Continuing with the impact of overcapacity and falling prices, REC has said that another long-term wafer sales contract signed in the 2006-2008 period had been terminated. REC said that it would receive a cash compensation of approximately US$34.2 million (NOK 220 million) in relation to the cancellation. REC did not disclose the customer involved.
The Coalition for Affordable Solar Energy (CASE) has commissioned an economic analysis to counter the petitions to the US Commerce Department and the US International Trade Commission by SolarWorld, demanding 250% tariffs on Chinese imports. The Brattle Group has found that a 100% tariff on imported solar PV cells and modules from China would result in as many as 50,000 net lost jobs in the US over the next three years. Furthermore, retaliatory tariffs placed on US exports of polysilicon to China would put nearly 11,000 more American jobs at risk in the first year following tariff imposition.
Following its win at the 2011 Solar Decathlon event, the University of Maryland has found a buyer for its winning entry, WaterShed. Pepco, the electric service provider, has purchased the solar-powered house and will transport the building to one of its facilities in Montgomery County, Maryland where it will act as a ‘living classroom’ to illustrate the clean energy possibilities.
The Ontario Superior Court of Justice gave Timminco, and its subsidiary Bécancour Silicon, an extension of the Companies’ Creditors Arrangement Act stay of proceedings. The stay proceeds will now be allowed to continue until April 30.
Spain has made the controversial decision to cease renewables subsidies for new solar, wind, co-generation and waste incineration plants in the face of an ever-growing government budget deficit of €24 billion. The power-system borrowings have been backed by the state but it appears that revenue generated by state-controlled energy prices has not been covering the high costs associated with delivering power, including the payment of renewables subsidies that have been put in place.
Hyderabad, India-based Surana Ventures has completed construction of its 5MW solar module manufacturing facility in the Fab City, approximately 40km from Hyderabad. The company has also announced that it is seeking the necessary permission to commission a second 5MW module manufacturing plant in Gujarat.
Yingli Green is to supply project developer, IBC Solar, with 180MW of multicrystalline and monocrystalline (Panda) PV modules in 2012 under a new supply agreement. IBC has an option for a further 20MW under the new agreement. IBC is expected to use the modules in projects within Germany, Europe and other regions during the year.
National Solar Power and Liberty County, Florida, have entered into a 100MW solar energy project agreement. The project, representing a US$350 million investment at full build out, is National Solar Power’s third in Florida with the others being in Gadsden and Hardee counties.
Major materials provider to the PV industry, DuPont reported Electronics & Communications segment sales of US$630 million in the fourth quarter, a decline 18% compared to the same period last year, with 33% lower volume which was offset by 15% higher prices. PV related revenue represent about 40% of DuPont’s electronics segment sales. Management noted that material destocking at PV manufacturers had continued in the fourth quarter due to inventory issues, impacting pre-tax earnings, which were down from US$56 million in the fourth quarter of 2010 to US$42 million in the fourth quarter of 2011.
London-based private-equity group Amplio has commissioned 7MW of PV capacity in the Italian region of Lazio, just outside of Rome. The company secured €16m from an Italian bank for the project – details for which are yet to be disclosed.
