Lithuanian solar investors sue government over FIT cuts
Solar developers in Lithuania are up in arms after the government slashed country’s photovoltaic feed-in tariffs and are taking legal action in the hopes that the once generous rates are restored.
Analysis: First Solar raising cash at opportune time
Goetz Fischbeck, executive director of Equity Research at Bankhaus Lampe, discusses First Solar’s capital increase, the company’s strategy and potential growth possibilites, particularly in China.
Belectric extends credit line
Germany’s Belectric has managed to increase its credit facility by 30%, which will allow it to better respond to new growth markets.
SolarWorld possibly saved by Qatar-based subsidiary
Qatar Solar Technologies looks set to rescue SolarWorld with a 35 million investment, making it a 30% shareholder in the financially troubled German company.
Siemens to close down its solar division
Siemens will shut down its solar division after failing to find a buyer for the unit, which has been on the block since October.
MidAmerican to raise $700 million for 579 MW AVSP
Berkshire Hathaway subsidiary MidAmerican Energy Holdings has issued $700 million in series A senior secured notes, to help finance its 579 MW Antelope Valley Solar Projects (AVSP). The notes will be due in 2035.
EU anti-dumping duties expected to eliminate 1.3 GW of PV installations
European PV installations are set to fall by more than 6 GW this year and the EUs incoming anti-dumping duties on Chinese modules will account for 1.3 GW of the decline, according to a report by research group IHS. Global installations will still see double-digit growth rates, however.
LDK Solars Q1 results remain in the red
Hit by falling prices and increased competition, LDK Solar remained deep in red ink in the first three months of the year with a net loss of $187.1 million, $104.3 million in revenue and liabilities totaling $5.3 billion.
Romania to cut green certificates
The Romanian government has approved legislation that will severely cut PV incentives for investors. Critics say the move could lead to a halt in foreign investment for the country’s solar market.
Isofotón seeks to restructure 284 million debt pile
Spanish solar group Isofotón filed for restructuring legal proceedings this week in the face of 284 million ($372 million) in liabilities. The company is hoping to reach an agreement with creditors and implement a debt-for-equity plan.
