FRANKFURT, March 27 (Reuters) – German solar power firms
Centrotherm and Q-Cells both reported annual
losses on Tuesday in results symptomatic of an industry
struggling worldwide with rapid price declines, production
overcapacities and plunging government subsidies.
Centrotherm, a maker of machines needed to produce solar
cells and modules, reported on Tuesday it made a net loss of
15.9 million euros ($21.2 million), compared with a net profit
of 51.1 million euros in 2010. It did not provide an outlook for
sales and profits this year.
BONN, Germany, March 22 (Reuters) – Germany’s SolarWorld
aims to return to profit on an operating level this
year, after massive declines in module prices and factory
closures led it to post a huge net loss in 2011, considered the
worst year for the industry so far.
“The year 2011 was a tough one for the industry and not
satisfactory for SolarWorld,” said Chief Executive Frank Asbeck,
nicknamed “sun king” for his outgoing nature.
DUESSELDORF, Germany, March 14 (Reuters) – Germany’s
biggest utility, E.ON, expects renewable energy and
foreign expansion to lift core profit this year and next after
the country’s decision to phase out nuclear power accounted for
most of its first-ever full-year net loss.
Chief Executive Johannes Teyssen said on Wednesday that E.ON
was pleased with growth at its renewable unit – spanning wind,
solar and hydro power – where 2011 core profit rose 21 percent
to 1.5 billion euros.
DUESSELDORF, Germany (Reuters) – E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) said renewable energy and foreign expansion should help lift core profit this year and next, after Germany’s decision to phase out nuclear power led to the country’s biggest utility posting its first full-year net loss.
Chief executive Johannes Teyssen said on Wednesday E.ON was pleased with the growth in its renewable unit — spanning wind, solar and hydro power — where 2011 core profit rose 21 percent to 1.5 billion euros ($2.0 billion).
FRANKFURT, March 5 (Reuters) – RWE AG’s
pragmatic, hybrid-car driving new leader Peter Terium faces a
major challenge as he tries to reposition a company that was
defined for years by its outgoing chief and his “nuclear Rambo”
Terium may bring less charisma to the top job of Germany’s
No.2 utility than Juergen Grossmann, whom he is scheduled to
replace as CEO on July 1, 2012 and whose pro-nuclear power
stance earned him the tough guy nickname.
BERLIN/FRANKFURT (Reuters) – Germany plans to bring forward cuts in solar power subsidies of up to 30 percent by almost a month to March 9, spelling further trouble for companies selling solar panels in the world’s No.2 market.
Government sources had told Reuters on Wednesday the cuts of 20 to 30 percent would be moved forward to April 1, news that sent share prices tumbling. On Thursday Environment Minister Norbert Roettgen and Economy Minister Philipp said the cuts would be moved forward even more, to March 9, to thwart any last-minute boom in projects, a further blow to producers.
BERLIN/FRANKFURT, Feb 23 (Reuters) – Germany aims to
reduce solar power incentives by between 20 percent and 30
percent from March 9, rather than from April 1, which is what
had been expected, spelling further trouble for companies
selling panels in the world’s No.2 photovoltaic market.
Shares in European solar companies fell on the news, with
sector bellwethers SolarWorld (SWVG.DE: Quote, Profile, Research), SMA Solar (S92G.DE: Quote, Profile, Research),
Q-Cells (QCEG.DE: Quote, Profile, Research), Renewable Energy Corp (REC) (REC.OL: Quote, Profile, Research) and
Centrotherm (CTNG.DE: Quote, Profile, Research) down by between 3.2 and 8.3 percent by
FRANKFURT (Reuters) – A Kosovo-Albanian man who killed two U.S. airmen and wounded two others in a gun attack at Frankfurt airport last March was sentenced to life in prison by German court on Friday.
Arid Uka, a 22-year-old who was raised in Germany, had confessed to the attack and said he acted after seeing a video apparently showing U.S. soldiers raping Muslim women.
FRANKFURT, Feb 10 (Reuters) – A German court found a
Kosovo-Albanian man guilty on Friday of killing two U.S. airmen
in a gun attack at Frankfurt airport in March 2010 and wounding
two others, sentencing him to life in prison.
Arid Uka, a 22-year-old who was raised in Germany, has
confessed to the attack and said he acted after seeing a video
apparently showing U.S. soldiers raping Muslim women.
FRANKFURT (Reuters) – Fears Germany will cap or cut green energy subsidies is boosting demand for solar panels, and uncertainty about the shape of the measures could give the country’s battered solar sector an advantage against Chinese rivals.
Installations of solar panels have boomed in Germany over the last two years due to feed-in tariffs, lavish subsidies utilities are forced to pay by the government to those who generate their own solar power. Ultimately power companies pass on the costs to their customers.