* Now sees 2011 sales of 1.5-1.7 billion euros
* Sees year EBIT of 220-300 million euros
* Reports minor recovery in demand for solar inverters
* Shares down 9.5 percent
(Adds details, background, share impact)
FRANKFURT, Sept19 – SMA Solar (S92G.DE: Quote, Profile, Research), the world’s biggest
maker of solar inverters, slashed full-year targets only days
after its chief executive called the outlook challenging,
confirming fears the industry bellwether was not immune to
The company said there had been only a minor recovery in
demand since mid-summer, blaming uncertainty on solar incentive
cuts in Germany, the world’s biggest solar market, and fallout
from the euro zone debt crisis.
FRANKFURT (Reuters) – E.ON is in talks with China’s wind turbine makers, the chief financial officer of its renewable operations said, adding the German utility may in future source turbines produced in the world’s largest wind market.
“We have been talking to half a dozen manufacturers and are looking in detail at costs and benefits,” Cord Landsmann, chief financial officer of E.ON’s climate and renewables unit, told Reuters in an interview.
BERLIN, Sept 5 (Reuters) – Power generated from solar
modules in Europe may take until the end of the decade to be
competitive vis-à-vis conventional forms of energy, the world’s
biggest solar association said on Monday, adding that point
could be reached sooner in some regions.
Based on a study looking at five major solar markets –
Germany, Italy, France, Spain and Britain — Brussels-based
European Photovoltaic Industry Association (EPIA) said
competitiveness could be reached by 2020.
BERLIN, Sept 2 (Reuters) – TV makers put on a brave face at
IFA, Europe’s biggest consumer electronics show in Berlin,
reassuring themselves that new products and brisk holiday
business would compensate a weak first six months of the year.
“The TV market need not shrink, it all depends on how
strongly prices will fall,” Rainer Hecker, chairman of the
German consumer electronics association (gfu) said.
BERLIN, Aug 31 (Reuters) – Germany’s renewables industry
needs faster cost cutting to attract investment necessary to
make solar, wind and other forms of alternative power a reliable
part of the energy mix, senior executives said.
The industry, particularly the solar sector, has had to
swallow drastic price cuts over the past two years, and even
Germany’s decision to abandon nuclear power by 2022 in response
to the disaster in Fukushima in March has not changed that trend
in a significant way.
BERLIN (Reuters) – Chinese solar module maker Yingli is unlikely to add production capacity in Europe, the head of its European operations told Reuters, pointing to slowing growth in the region after cuts in subsidies.
“It would be difficult to look at capacity expansion in Europe,” Stuart Brannigan, also a member of Yingli’s management board, said on Monday on the sidelines of the Handelsblatt conference for renewable energy, adding acquiring European solar companies was “probably not on our agenda.”
NEW YORK/FRANKFURT (Reuters) – A brutal 2011 has left the solar industry dazed, damaged and on the cusp of a major shakeout of weaker players who are more likely to shut down than be snapped up by their stronger rivals.
Solar subsidy cuts in top markets Italy and Germany prompted a 20 percent drop in the price of solar panels this year, bringing the fast-growing solar industry to a critical tipping point. Even companies that had been stock market heroes find themselves as the walking wounded, struggling to cut costs in a market awash with solar panels.
FRANKFURT (Reuters) – MAGE Solar has not been approached by Asian predators on the look-out for customer access in the world’s top solar market, nor is it willing to give up its independence, according to its chief executive.
“So far, no one has called us,” Norberto Philippi, CEO of Germany’s MAGE Solar, told Reuters in an interview on Wednesday. “We’re a 100-percent subsidiary of MAGE and it will stay that way,” he added. MAGE Solar makes solar modules and offers system installation.
FRANKFURT (Reuters) – Strong demand in overseas markets pushed Germany’s SMA Solar (S92G.DE: Quote, Profile, Research, Stock Buzz), the world’s largest maker of solar inverters, to forecast-busting second-quarter profit and confirmation of its ambitious outlook.
The large exposure to foreign markets was a key advantage compared with SMA’s biggest competitor Power-One (PWER.O: Quote, Profile, Research, Stock Buzz), which makes about half of its sales in Italy where demand was hit by falling government subsidies.
FRANKFURT (Reuters) – Major solar power companies warned of an uncertain outlook for the industry, faced with oversupply and falling prices as governments in key markets withdraw incentive schemes and Asian competitors circle.
SolarWorld (SWVG.DE: Quote, Profile, Research), Germany’s No.2 solar company by sales, echoed recent comments by global peers when it warned on Thursday that its outlook for higher sales in 2011 may be undermined by free-falling prices and overcapacity.