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2013/02/12Dow Corning Published Fourth Quarter and 2012 Year End Results
Dow Corning Corp. today reported its financial performance for the fourth quarter and full year of 2012. Dow Corning recorded sales of $6.12 billion and net income of $188 million for 2012. Dow Corning’s year-to-date sales and adjusted net income were down 5 percent and 45 percent, respectively, compared to 2011 as oversupply, economic volatility and high raw material costs significantly reduced the company’s profits. Adjusted net income for 2012 excluded charges for asset abandonments and restructuring expenses. Adjusted net income for 2011 excluded a gain on long-term sales agreements. Additional information about Dow Corning’s financial results: Fourth Quarter Results Sales were $1.48 billion, 3 percent lower than last year’s fourth quarter. Adjusted net income was $69 million, 10 percent lower than last year's fourth quarter. Dow Corning's Hemlock Semiconductor Group joint ventures continued to be challenged by significant oversupply in the polysilicon industry and the threat of potential duties on its products sold into China. Sales in Europe continued to be significantly lower due to continuing economic volatility. Year-to-Date Results -
2013/02/12Vikram Solar To Commission 40MW Plant In Rajasthan
Aiming to set up solar power projects of 300 MW over next 3-5 years, leading solar product manufacturer Vikram Solar today said it will soon commission its 40-MW plant in Rajasthan. The 40-MW solar power generating plant in Rajasthan is being set up with an investment of over Rs 400 crore under the government's National Solar Mission (NSM). "It is in the process of completion. It will be commissioned in an another week's time," Vikram Solar Director Gyanesh Chaudhary told PTI.Chaudhary said that the Kolkata-based company has completed engineering procurement construction ( EPC) contracts of 100 MW in the last two years. -
2013/02/12Wacker Stops Short-Time Work at Burghausen's Polysilicon
Wacker Chemie AG has stopped the short-time work schedule introduced at Burg-hausen’s polysilicon facilities back in early October 2012. The Munich-based chemical company took this decision amid growing demand from its solar-sector customers. To serve this demand growth, the company is ramping up its current capacities – which are currently curbed to two-thirds of full utilization – and is, thus, ending short-time work at Wacker polysilicon. -
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2013/02/11Jinko Solar Announced Issuance of Six-Year Bonds of RMB800 Million
JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a leading global solar power product manufacturer, announced that Jinko Solar Co., Ltd. (“Jiangxi Jinko”), one of the Company’s wholly owned subsidiaries, has successfully completed the issuance of six-year bonds with a principal amount of RMB800 million. The bonds bear a fixed annual interest rate of 8.99% and will mature on January 29, 2019. The interest rate is based on current one year Shibor (Shanghai Interbank Offered Rate) of 4.40% plus 459 basis points (4.59%). At the end of the third year in the life of the bonds, Jiangxi Jinko has the option to raise the interest rate by up to 100 basis points, and the bondholders will have the right to require Jiangxi Jinko to repurchase all or part of their bonds upon Jiangxi Jinko’s announcement of whether or not it decides to raise the interest rate, and by how much, at such time. The bonds were approved by the Chinese National Development and Reform Commission’s (“NDRC”) Financial Division. Industrial Securities acted as the lead underwriter and book runner for the bonds and the underwriters provided standby commitment. The proceeds from the issuance of the bonds will be used for capital expenditure and working capital purposes. “We are extremely proud to be the first solar company approved to issue corporate bonds in China this year,” stated Mr. Kangping Chen, Chief Executive Officer of JinkoSolar. “This round of fund raising reflects strong market confidence in our long-term growth potential and sustainable business development.” -
2013/02/11
Sunpower Reports Fourth-Quarter and Fiscal Year 2012 Results
SunPower Corp. (NASDAQ: SPWR)announced financial results for its 2012 fourth quarter and fiscal year ended Dec. 30, 2012. -
2013/02/08REC Published Fourth Quarter and Year 2012 Results
Renewable Energy Corporation ASA (REC) reported fourth quarter 2012 revenues from continuing operations of NOK 1,687 million and negative EBITDA of NOK 34 million. EBIT was negative NOK 2,178 after NOK 1.8 billion impairment on fixed assets related to the REC Silicon operations in the USA. Net debt remained unchanged at NOK 1.8 billion from the previous quarter. -
2013/02/08
$100 Million Funding Available For Qualified Buyers From Aleo Solar and Bosch Solar
Aleo solar and Bosch Solar Energy North America have organized more than $100 million of immediately available funding for select commercial and residential solar projects within the continental United States. -
2013/02/08
Draker Selected for 2MW Utility-scale PV Plant Monitoring at Massachusetts
Draker is pleased to announce today that it has been selected to install its fully integrated Draker AC and Clarity™ DC panel-to-grid (P2G) monitoring solution at a 2 MW-AC site, the largest installation to date for a fully integrated Draker AC and Clarity DC monitoring system. The solar PV plant in Massachusetts is a fixed mount, 600V system with utility grid interconnection.