Specialist PV system monitoring firm, Solare Datensysteme said that sales had reached almost €7 million in the first quarter of 2012, a 118% increase over the same quarter in 2011. The company guided sales in the second quarter of 2012 would be inline with the first quarter. The increase in sales was said to be due to sales success in a wider number of countries, including Canada and the US.
In a joint venture, NYSE Euronext and research company Bloomberg New Energy Finance (BNEF) have developed three new sector indices covering solar and wind energy as well as energy smart technologies (EST). Each index is produced using the different global stock market values of 70–200 industry companies, and a minimum threshold exposure to applicable renewable energy sectors is also calculated.
PV project developer, Premier Power reported 2011 full-year revenue results of US$70.2 million, including fourth quarter revenue of US$15.5 million. Fourth quarter revenue was down 66% or US$30.6 million from US$46.1 million achieved in the same period in 2010. Full-year results were down 19%, compared to 2010, while non-GAAP operating loss increased to US$3.8 million in 2011, up from US$2.8 million in 2010. This decrease in revenue was said to be mainly due to project delays in Bulgaria that were pushed into the first quarter of 2012.
Big funding deals maybe a thing of the past but overall VC funding deals remain at record levels, according to the latest quarterly report of solar VC funding activity by Mercom Capital Group. Citing a slow start to 2012, VC funding in the first quarter of 2012 reached only US$329 million the lowest dollar amount recorded since Q4 2010. However, 34 deals were reported, suggesting VC’s are taking a lower risk approach to the sector, according to the report authors.
Tenaska is breaking its way into the solar power generation market with an announcement that it has closed commercial financing for its Imperial Solar Energy Center South in southern California. The utility-scale PV plant is the first of what the company expects to be several solar generating facilities it will develop in California and other US states. Located in Imperial County, the 946-acre solar project was developed by Tenaska Solar Ventures, with the company advising that a second solar project is under development nearby.
Soventix Canada, formally Sovello Canada, announced at the Ontario Feed-In Tariff Forum 2012 that it has extended its material and workmanship warranty from five to ten years. The new warranty covers Soventix Canada's Sovello Project Pro Series and Consumer Pro Series solar modules, effective April 1, 2012.
Eyelit has completed tallying its financial results for Q4 and the full year 2011. The company did not release specific numbers, but advised that it had completed a record high in Q4 revenue with new customer sales doubling in 2011, over numbers in 2010. Eyelit noted that 50% of its new customers are large multinational corporations with revenues topping US$1 billion.
Solar Millennium’s week has started with a low as the company revealed that its US subsidiaries and investment filed for Chapter 11 bankruptcy. Furthermore, the company’s former CEO, Utz Claassen, is suing the company, and certain of its subsidiaries, for US$265 million, claiming harm by defamatory statements to the public and press after he retired in March 2010.
Phoenix Solar advised that it had recently amended its restructuring plan, including its business development plan for the next few years, due to cuts in FiTs for solar power in several of its key markets. Due to the changes, the financial negotiations have been put on hold and the moratorium that was agreed to with the syndicate banks and other bilateral lenders and guarantors, including trade credit insurers, was extended at the end of last month to allow financing negotiations to continue.
Yingli Green Energy and FC Bayern Munich are jointly hosting the FC Bayern Youth Cup finals. The tournament comes after Yingli Green became an official sponsor of the FC Bayern last year, amidst a flurry of Chinese sponsorship in German football clubs. Yingli’s 3 year sponsorship deal with the club will give them marketing rights to areas such as tickets, advertising and public relations. It is hoped the event will help provide underprivileged children with the opportunity to play football and showcase their talents.
