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15.08.2011
China to double solar facilties by end of 2011
China is set to double its solar capacity to 2GW by the end of the year as the world’s largest producer of modules encourages an increase in domestic installations through a new feed-in tariff.
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12.08.2011
Solarig surpasses 105MW of PV in Europe
Spanish photovoltaic (PV) company Solarig has so far invested €65m in 2010 into 21MW of solar projects in Italy, Spain and France. Cumulative investment is now more €400m and the company has now connected 105MW of PV projects in Europe.
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12.08.2011
SMA Solar’s first half sales down by €100m
German photovoltaic (PV) manufacturer SMA Solar has recorded first half sales of €715m, €100m less than the same period last year. Consolidated net profit in the first six months was down by more than 50 per cent as the company recorded net profit of €73.5m, compared with €158.2m in 2010. SMA generated EBIT of €103.7m, a significant reduction from last year’s figure of €219.9m which was a record period for the company.
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11.08.2011
Solar company Conergy sees margins squeezed in Q1
German solar company Conergy has reported second quarter sales of €225.2m, a 40 per cent increase on the first quarter but a decrease compared to the same period in 2010 when sales were €239.4m.
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10.08.2011
AEG receives order for 5MW project in India
Energy component manufacturer AEG has been contracted by India-based Surana Ventures to provide electrical systems including inverters, monitoring and measuring equipment for a 5MW solar plant in Gujarath, west India. Since March, AEG has had orders in the country for projects with a combined capacity of 25MW.
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09.08.2011
Vestas receives 92MW turbine order in Spain
Global energy company Vestas has been contracted to supply wind turbines with a capacity of 92MW for two wind projects in the north of Spain by subsidiaries of the Vapat group Bruilles Eolica and Cyl Energia Eolica.
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09.08.2011
nkt cables contracted by 50Hertz to connect Baltic 2 offshore wind farm
Danish transmission specialist nkt cables has been contracted by German energy company 50Hertz to install high voltage subsea cables for the Baltic 2 offshore wind farm. The deal is valued at DKK750m (€95m) and equipment for the project will be manufactured at a facility in Cologne.
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09.08.2011
GE invests $40m in eSolar, enters joint venture
Electronics giant General Electric (GE) has closed a strategic investment worth $40m into US solar thermal developer eSolar. As part of the deal the CEO of GE’s thermal products division Paul Browning will join the board of eSolar.
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08.08.2011
Natural Power contracted by Bord Gais to manage 13 Irish wind farms
Irish power producer Bord Gais Energy has contracted renewable consultancy Natural Power to manage operations of it portfolio of wind farms across Ireland. Natural Power will deploy wind farm monitoring, management and control solution WindCentre to observe and respond to the 13 sites, which have a combined capacity of 225MW.
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08.08.2011
JA Solar’s board to buy back $100m in shares
Photovoltaic (PV) component producer JA Solar’s board of directors have approved a share repurchase programme authorising the company to reacquire up to $100m of the company’s American Depositary Shares (ADS). The arrangement is effective immediately and allows the company to purchase ADSs on the open market at prevailing rates, in negotiated transactions off the market and in block trades.
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08.08.2011
German wind developer PNE sees 50% turnover decline in H1 2011
German wind energy developer PNE Wind has announced turnover of €16.6m for the first half of the year, a huge decrease from the same period in 2010 when turnover stood at €41.1m. EBIT decreased to €0.9m from €8.2m in the first six months of last year. The company attributed falling revenue to a decision to focus on offshore wind projects, which have a higher investment and construction time than onshore developments. The company predicts EBIT to grow to at least €60m by 2013.
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05.08.2011
Sempra Generation enters PPA with PG&E for Nevada PV expansion
US energy company Sempra Generation has entered into a 25-year purchase power agreement with utility the Pacific Gas and Electric Company (PG&E) for the sale of electricity from the 150MW expansion of Sempra’s Copper Mountain Solar facility in Nevada.
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05.08.2011
First Solar becomes latest PV company to see sharp drop in sales
US photovoltaic (PV) company First Solar announced net sales of $533m in the second quarter of 2011, a decrease of $34.5m from the first quarter and $55m compared with the same period in 2010. The company attributed the decrease in revenue to lower average selling prices and policy uncertainties in Europe.
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05.08.2011
EcoEnergy completes 1.6MW rooftop solar development
US renewable company EcoEnergy has completed a 1.6MW rooftop solar installation on a warehouse used by catering supply-chain business WEBstaurant Restaurant Supply. The 7,000 panel development is the first of three that WEBstaurant plans for solar arrays on its facilities in the US and the company estimates this will lead to energy savings of $74,000 a year. The warehouse is located in the Upper Leacock Township around 60 miles west of Philidelphia.
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04.08.2011
MEMC to purchase Fotowatio Renewable Ventures in $100m deal
US solar wafer manufacturer MEMC and subsidiary SunEdison have reached a definitive agreement to acquire photovoltaic factory builder Fotowatio Renewable Ventures’ (FRV) US division. It will pay $122m for the acquisition and repayments of $22.9m in intercompany loans and capital contributions. The final purchase price is subject to adjustments based on the actual figure for intercompany loans and capital contributions at closing. The deal also includes deferred payment of up to $103.6m if FRV meets certain performance criteria.
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