Finance

Failure to correctly vertically integrate its business operations, the impacts of the U.S.-Sino trade case and the fallout of the GSF Fund debacle all led to Suntech’s current situation, according to IHS Solar. Furthermore, the research company adds, China appears less willing to prop up its ailing manufacturers.

Centrosolar Group AG will sell its solar glass division off, following a year of devastating financial losses. The Germany-based company has also postponed the publication of its annual report and announced the continuation of its restructuring measures.

Photovoltaic laminator producers see little sign of any upturn in the months ahead, on the back of a tumultuous 2012. Weak demand and factory closures are characterizing the industry, as are overcapacity and U.S. sanctions on Chinese exports. Cost reduction and innovation hold the key to long term survival, however.

It is clear the fall from grace of one of the world’s largest PV manufacturers – a key topic at this year’s Solarcon China 2013 – will impact other Chinese top-tier companies. Other discussion points at the event included shifting policy models and the imminent overhaul of China’s PV FITs.

After months of speculation, Bosch has today confirmed it will exit the crystalline solar sector. As of 2014, the German company will cease production of its photovoltaic ingots, wafers and cells. It will also “quickly” sell its solar business units, including its majority stake in aleo. Decreasing prices has been blamed for the decision. Up to 3,000 employees will be affected.

The first project stemming from Solar Frontier and Belectric’s collaboration in Japan has been connected to the grid today. The 3.3 MW photovoltaic power plant was completed by the companies, with Shoseki Engineering and Construction (SEC), in the town where Solar Frontier’s 900 MW fab is based.

The Wuxi Municipal Intermediate People’s Court in Jiangsu Province, China, has officially accepted the petition for the insolvency and restructuring of Suntech Power Holdings Co., Ltd’s main subsidiary, Wuxi Suntech Power Co., Ltd, submitted by eight Chinese Banks on March 18.

A European Committee has spoken out in favor Germany-style renewable energy (EEG) feed-in tariffs, as opposed to a European-wide quota model, despite opposition from the EU Energy Commissioner.

ReneSola Ltd has secured a loan guarantee worth RMB 320 million (around US$51.5 million, €39.9 million). The funds are expected to be used towards the company’s domestic development in China.

Suntech Power Holdings Co. Ltd has today announced that a petition for insolvency and restructuring was filed against subsidiary Wuxi Suntech Power Holdings Co., Ltd on Monday, March 18. Wuxi Suntech has not objected to the filing.