FRANKFURT, Nov 14 (Reuters) – Three of Europe’s top
renewable companies said prices were still falling amid
oversupply and lower government incentives, echoing recent
comment from peers in China and the United States.
SolarWorld, Germany’s No.2 solar company by sales,
cut its outlook on Monday, saying it no longer expected 2011
revenue to reach last year’s 1.3 billion euros ($1.8 billion).
FRANKFURT, Nov 14 (Reuters) – Q-Cells said
its chief financial officer Marion Helmes resigned following a
wider-than-expected third-quarter operating loss as pricing
pressure and oversupply keep a tight grip on the solar sector.
The company said it posted a third-quarter operating loss of
47.3 million euros ($65 million), wider than the 42 million
average forecast in a Reuters poll, in what is considered the
worst year the industry has seen so far.
FRANKFURT, Nov 11 (Reuters) – SMA Solar,
Germany’s top solar power industry group by sales, posted a
better than expected quarterly profit on Friday as the company
benefited from a focus on maintenance and strong business in
Shares in the world’s largest maker of electric current
inverters, a key component of solar power generation systems,
were indicated 3.4 percent higher in pre-market trade,
outperforming the benchmark DAX index, which was seen
up 0.8 percent.
FRANKFURT (Reuters) – German solar wholesaler Phoenix Solar sees higher sales and order intake in the current quarter but no marked year-end rally in what its chief executive described as the worst year the industry has seen so far.
“I see a reasonable pickup in sales, solid demand with significantly higher order intake but no rally as we’ve seen in 2009,” Andreas Haenel told Reuters in an interview on Thursday.
FRANKFURT (Reuters) – Beaten-down solar stocks will bottom out in the first three months of 2012, a fund manager at U.S. asset manager Calvert Investments said, giving him an opportunity to increase his position in the sector ahead of a possible recovery.
“I think that the bottom for the solar market is probably going to be reached in the first quarter next year, which is traditionally weak,” Jens Peers said.
FRANKFURT (Reuters) – Germany’s Centrotherm (CTNG.DE: Quote, Profile, Research, Stock Buzz), the world’s No.2 solar equipment maker, cut its forecast for 2011 sales and operating margin, becoming the latest casualty of a crisis in the solar sector.
The news comes after U.S.-based First Solar (FSLR.O: Quote, Profile, Research, Stock Buzz) slashed its profit forecast earlier this week, adding it would slow spending as the industry struggles to adjust to a steep decline in the price of solar panels.
FRANKFURT, Oct 28 (Reuters) – German specialty chemicals
group Wacker Chemie cut its full-year outlook,
pointing to recovering production by Japanese competitors and
tighter inventories at its polysilicon clients in the fourth
Larger peer BASF warned of reduced inventories at
customers a day earlier while other European chemicals groups
braced for slowing demand in Europe.
FRANKFURT/NEW YORK (Reuters) – The solar industry is in for a dire quarter as falling government subsidies and low volumes further drive down equipment prices at a time when oversupply has already led many sector players to lower their full-year profit outlook.
A pick-up in demand for solar panels, widely expected by industry players for the second half, failed to materialize, pushing several U.S. companies, most notably panel maker Solyndra LLC, to file for bankruptcy in recent months.
FRANKFURT/HONG KONG, Oct 20 (Reuters) – Chinese solar
companies could soon find themselves bereft of some of their
biggest foreign markets as Western manufacturers intensify a
solar trade war and seek stiff anti-dumping duties on low-cost
German group SolarWorld said on Thursday it was
working on steps to curb alleged price dumping by Chinese rivals
in Europe .
FRANKFURT/DUESSELDORF, Oct 20 (Reuters) – German group
SolarWorld said it may take steps against alleged
price dumping by Chinese rivals in Europe after its U.S. unit
filed a complaint, the latest move in the solar trade war.
“We are currently reviewing several options for how to throw
this forward over here,” SolarWorld Chief Executive Frank Asbeck
told Reuters on Thursday.