According to a report released by Bloomberg New Energy Finance, the price of polysilicon continued its downward march, dropping by 2.6% last week. The material’s average spot prices were US$23.17/kg last week, compared to US$23.78 the week before. The report further advised that the price is down around 15% this year.
In February, EuPD Research awarded Germany-based Sovello the TOP BRAND PV seal; this week, the module manufacturer announced it has filed for insolvency in self-administration at the district court in Dessau. This very same court handled proceedings for Q-Cells last month and CIGS thin-film firm Odersun. The dramatic reduction in government subsidies and competition from Chinese manufacturers are being blamed for the moves by German companies that are unable to pay their mounting debts.
S.A.G. Solarstrom has announced a significant increase in sales volume with a positive EBIT. The company closed the first quarter of 2012 with sales of €21.4 million (Q1 2011: €78.9 million) and an EBIT of -€2.8 million (Q1 2011: €5.1 million), claiming these results are in line with its schedule for 2012. The company states that in the previous year’s quarter, sales and EBIT had been influenced to a very great extent by the large-scale Serenissima project.
Bloomberg is reporting that Conergy stock rose to its highest point since February following a report from the Financial Times Deutschland. The paper stated that the company was near ready to sell a 30% stake of Conergy to an undisclosed Chinese buyer. Bloomberg noted that company stocks rose as much as 16% to €0.57 per share.
PV manufacturer PVA TePla AG has announced it has generated sales revenues of €31.0 million in the first quarter of 2012 (previous year: €23.1 million), its EBIT amounted to €2.9 million (previous year: €1.8 million).
Having made a few leaps in the last six months alone with a TÜV safety certification in September, announced the production of its first 100MW thin-film modules and partnering with altPOWER for future US-based BIPV projects, executive management of Soltecture have applied to open insolvency proceedings. Having extensively explored new financing options, including rebranding and restructuring initiatives towards the end of last year, the company has stated it saw no other viable option for averting the company’s impending insolvency at the present time.
Westinghouse Solar and CBD Energy are hoping that the definitive merger agreement both companies signed this week will be completed by Q3 2012. Approvals from both companies’ board of directors have been received. Limited closing conditions and approval by both companies’ shareholders need to be finalized in order to complete the deal.
MySolar, the new residential solar lease facility created by Clean Power Finance, MS Solar Solutions and Main Street Power Company, is being called the largest in the US. The program will provide funding for up to US$300 million in projects with Zions Energy Link being the first member of a syndicate of debt providers for the MySolar residential solar lease facility.
Kyocera Solar launched the Kyocera Solar Finance program, which aims to provide loan and lease options for customers looking to install light to mid-to-large commercial solar installations. The program is run in partnership with De Lage Landen Financial Services with Kyocera offering up to 100% financing for qualified borrowers.
JinkoSolar will continue to sponsor Valencia Football Club for two more years following the signing of a new contract. Valencia recently finished third in Spain’s La Liga and will play in the European Champions League next year. JinkoSolar will remain the club’s main sponsor and the company’s logo will be featured on Valencia’s home and away shirts throughout the season.
