PV inverter supplier, Satcon Technology is realigning its business operations and significantly cutting operating expenses to reach breakeven mid-year. Europe and Canada business efforts are being scaled back, which includes the closure of its manufacturing facility in Ontario, Canada and an overall headcount reduction of 140 worldwide, or approximately 35%. Satcon will also stop production of its Solstice product line.
New Energy Technologies advised that it had appointed Dr. Scott Hammond as principal scientist and Dr. Christopher Harris to its board of advisors. Both Hammond and Harris join New Energy from the US DOE’s National Renewable Energy Laboratory (NREL), which has been partnering with New Energy through a cooperative research and development agreement for the advancement of the company’s SolarWindow technology.
Taiwan-based solar wafer producer, Green Energy Technology (GET) reported net sales for December 2011 of NT$880 million (US$29.05 million), down approximately 57%, compared to the same month in 2010. Total net sales for 2011 reached NT$18,615 million, (US$614.5 million) up 7.6% from 2010.
A highly anticipated deal expected since Total bought a majority share holding in SunPower earlier this year, should be completed in early 2012. SunPower is to acquire module manufacturer, Tenesol from Total for US$165.4 million in cash. Ownership of Total in SunPower will increase to 66% as part of the transaction. SunPower noted that the acquisition would positively affect its financial position in 2012.
AU Optronics (AUO) has appointed Paul Peng as its new president. Peng will start his new role on January 1, 2012 and is replacing Dr. L. J. Chen, who will now serve as AUO’s president of solar business operation. AUO hopes that its management reshuffle will improve the competitiveness of its products and technologies and in turn profitability.
T-Solar has signed three loan agreements worth US$145 million to finance two PV plants in Peru. The systems, which have a combined capacity of 44MW, are the first large-scale solar installations in Latin America and will cover 206 hectares of land in the Arequipa region of southern Peru.
Oerlikon CEO, Andreas Dill has been appointed a member of the SEMI Europe Advisory Board. Dill comes from an engineering background having joined the Swiss company in 1998 and has served in a succession of senior management positions. He is also a board member of Colibrys and Cicor Technology.
Unable to secure closure on a previous deal to sell its solar project pipeline to solarhybrid and investor funding for its planned expansion of its Ibersol parabolic trough power plant project, Solar Millennium has filed for the opening of insolvency proceedings at the district court in Fuerth, Germany. The module supply deal between First Solar and solarhybrid becomes suspect.
In a brief market update, aleo solar said that it expected losses in 2011 to be in the range of €25-€30 million. The PV module manufacturer had reported an EBIT profit of €7.4 million, with an EBIT margin of 2.2% for the first 9-months of the year.
Following the Canadian government’s announcement to reduce FiT prices for new projects, The Green Energy Act Alliance and Shine Ontario Association have joined forces by releasing the Ontario Feed-in Tariff 2011 Review: More Jobs, Affordable, Clean Energy, and a Brighter Future for Ontario report. The groups represent Canada’s leading environmental and energy groups, as well as the key players in Canada’s solar industry.
