SkyPower has secured a CAD$67 million revolving credit facility from Deutsche Bank, to be used to support the ongoing development of SkyPower's portfolio of utility-scale solar projects in Ontario, Canada. The facility is a letter credit facility innovatively structured to leverage the benefits of Ontario's green energy program and feed-in tariff.
Bringing two decades of extensive experience in renewable energy, software and semiconductors to the company, solar industry veteran Cary Vandenberg has joined eIQ Energy’s executive team. As vice president of sales he will be responsible for strengthening its sales management, business development and international business in order to expand its product offerings and customer installations.
German Chancellor Angela Merkel has dealt a blow to Germany’s flagging downstream sector by questioning its credibility as a commercially viable energy source and calling for a further cut to its feed-in tariff.
The Meyer Burger takeover of Roth & Rau is on its way to becoming more of a reality as the management board team has undergone a reshuffle, and former Roth & Rau chairman Dr. Dietmar Roth has left his former role for a seat on the Meyer Burger board of directors.
Citing the ongoing challenging market conditions, notably in its residential and commercial segments, SunPower will revise its revenue and earnings outlook for 2011. However, SunPower has a strong utility-scale project pipeline, especially within the US. The new 2011 guidance will be announced in a month, during its third quarter financial results, issued on November 3.
Trichlorosilane producer, SunSi Energies is attempting to join the NASDAQ Capital Market to fund further expansion of TCS production. The company recently noted that it expected revenue for 2012 to be between US$49-US$52 million, compared to US$15.1 million in revenue reported in fiscal 2011.
The US Department of Energy (DOE) advised that it had awarded a US$737 million loan guarantee to Tonopah Solar Energy for its 110MW Crescent Dunes Solar Energy Project. Sponsored by SolarReserve, the 100MW CSP solar power tower is said to be the first of its kind in the US and the tallest molten salt tower in the world. The project will be built on land leased from the Bureau of Land Management in Tonopah, Nevada.
Effective September 22, Steven Pleging was named chief executive officer, president and director of Quantum Solar Power. Pleging has served as the company’s chairman of the board of directors since July. Quantum’s former president and CEO, Daryl Ehrmantraut, will continue working with the company as its chief operating officer and director of operational and administrative functions.
Although the company has long held a presence in the country via its distribution network, Tenesol has decided to establish a subsidiary company in Marousi, central Greece. The company has appointed Manthos Kallios, formerly of PPC Renewables, as general manager of the subsidiary.
In a move likely to expand the module manufacturer’s reach in Asian markets, Solaria Energía y Medio Ambiente has signed a cooperative agreement with Chengdu, China-based Dongfang Electric Corporation (DEC), and has secured a purchasing credit line worth US$30 million from DEC for the purchase of cells and project components.
