Effective January 1, 2012, Robert Yorgensen will be STR Holdings’ new CEO and president. Dennis Jilot, who has served as the company’s CEO since 1997 will be retiring from the positions, but intends to remain as chairman of the board of directors.
Nearly one month after Q-Cells released its third quarter results, and its former CFO, the company has announced the addition of Clemens Jargon as the marketing and product management lead for Q-Cells’ sales products and systems division.
India’s Ministry of New and Renewable Energy has awarded PV project contracts worth 350MW to 28 developers in its latest National Solar Mission (NSM) auction. Projects in batch II of phase II were allotted by a reverse bidding process and have an initial completion deadline of March 2013.
With almost perfect conditions for solar technology deployment, a significant energy need and weak infrastructure, South Africa as highlighted in a detailed EPIA report last year should be one of the best emerging markets. However, lack of financial support was said to be the key obstacle. That my now be changing with one example of funding being made available with the support of the European Investment Bank and Investec to the tune of €100 million for the promotion of clean energy generation and energy efficiency initiatives in South Africa.
David Brady, First Solar’s VP of Treasury is also taking over the role of Investor Relations, reporting to Mark Widmar, Chief Financial Officer. Former investor relations officer, Larry Polizzotto remains within the company, though no formal position has been chosen. Reasons for the shuffle were not given.
Solar manufacturing giant Suntech Power has appointed Pawel Nowotny as the new head of its European marketing team. Nowotny will be based out of Suntech’s European headquarters in Schaffhausen, Switzerland and responsible for implementing the company’s long-term brand-building strategy across Europe.
Late Friday, November 25, Evergreen Solar issued a statement announcing that senior executives, including CEO, Michael El-Hillow had been sacked with immediate effect on November 21, 2011. The board of directors appointed Christian M. Ehrbar as its new CEO and Paul Kawa as CFO, without providing reasons for the sacking or new appointments. Evergreen Solar is currently in Chapter 11 bankruptcy and recently conducted a sale of some of its core assets to Max Era Properties Limited.
Algonquin Power has entered into a share purchase agreement with EffiSolar Energy to buy all the issued and outstanding shares in Cornwall Solar and its 110MW project pipeline.
Third quarter results from Hanwha SolarOne echoed pricing pressure and weak demand, especially from Germany that led to margin pressure, inventory write downs and losses. Hanwha SolarOne reported US$225.4 million in revenue, a decrease of 20.1% from 2Q11 when revenue reached US$277.1 million. The company recorded a non-cash inventory write-down of US$30.6 million and a net loss of US$46.4 million.
