Indonesian State oil and gas company PT Pertamina has signed a memorandum of understanding (MoU) with PT LEN to develop a local PV industry, the company has announced. The current Indonesian solar capacity is 17MW and PT Pertamina hopes to boost the solar industry by producing solar cells locally instead of having to import them. To date, only modules and PV systems are manufactured in Indonesia, cells have to be imported.
Heritage Global Partners and Schneider have entered a partnership for an asset auction, the companies have announced. The two companies have scheduled the auction for AE Polysilicon’s Pennsylvania manufacturing facility for Tuesday, July 31, 2010, beginning at 9am Eastern Time.
Blaubeuren, Germany-based Centrotherm has filed for Chapter 11-type bankruptcy protection in Ulm’s district court to start insolvency proceedings. Centrotherm has a three-month window to restructure before creditors come knocking on its door. The company named insolvency lawyer Tobias Hoefer to the board in a bid to oversee the restructuring. Last month, Hans Autenrieth, member of the management board and co-CEO stepped down from his board position. Jan von Schuckmann replaced him and was appointed chief restructuring officer.
Bloomberg has reported that General Electric (GE) will be putting the construction of its Colorado-based solar panel factory on hold for at least 18 months. Lindsay Theile, GE spokeswoman, noted that sharp price declines and a global oversupply of panels were factors in the company’s decision.
Several reports cite General Electric’s general manger of solar technology operations, Danielle Merfeld, saying that the company has suspended the construction and commercial roll-out of its CdTe thin-film modules due to the current market conditions. GE announced the location of its first thin-film plant in October 2011 which would have a nameplate capacity of 400MW and start commercial shipments in 2013. The facility was at the core of a US$600 million investment in entering the solar industry.
Following yesterday’s report that US-based Konarka Technologies is undergoing liquidation proceedings pursuant to Chapter 7 of the US Bankruptcy Code, it has now been announced that the thin-film company’s subsidiary in Germany has also filed for bankruptcy. Attorney Alexander Kubusch of national German insolvency administration firm CURATOR AG has been appointed as the preliminary insolvency administrator.
Continuing market constraints and unattainable cost bases have conspired to force Schott Solar’s management to withdraw from c-Si PV manufacturing completely. Although the company’s thin-film and CSP activities are unaffected by this news, this exit from the c-Si sector will affect around 870 employees as well as its Mainz and Alzenau plants in Germany, Valasske Mezirici in the Czech Republic and Albuquerque in New Mexico.
It appears that the next victim of this most ruthless of competitions – the solar shakeout – is CdTe thin-film manufacturer Abound Solar. Another controversial recipient of a DOE loan guarantee, the company will be closing its doors next week, a claim that has been confirmed on the DOE's website today. According to a GTM Research report, the company will finally cave to cost pressure from CdTe leader First Solar and the general plummeting product costs across the PV manufacturing board.
Global Solar Energy Deutschland has begun insolvency proceedings at a German court, the company has announced. Global Solar Energy Inc., based in Tucson, Arizona, announced the news that the German executive team’s decision will not influence its Tucson production line. The company will cease operation of its 35MW German facility in Berlin, though.
Updated. Business conditions at LDK Solar have worsened considerably since reporting fourth quarter financial results at the end of April, 2012. The integrated PV manufacturer has slashed both polysilicon production and full-year revenue guidance, while meeting the low mark of guided sales in its first quarter 2012 results.
