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.
FRANKFURT, Aug 11 (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
SolarWorld , 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.
FRANKFURT (Reuters) – Plunging prices for solar cells and writedowns on its plants and inventories led German solar company Q-Cells to reveal a gigantic loss in the second quarter, sending its shares tumbling.
“We’ve been hit very hard by the market environment,” Chief Executive Nedim Cen said in a conference call on Wednesday, pointing to weak demand in Germany, the world’s No.1 solar market, and resulting low capacity utilisation.
FRANKFURT, Aug 10 (Reuters) – E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz), the world’s
largest utility by sales, joined peers in posting weak half-year
results as Germany’s decision to abandon nuclear power forced it
to slash its profit outlook, its dividend and up to 11,000 jobs.
E.ON said on Wednesday it now expected 2011 adjusted
earnings before interest, depreciation and amortisation (EBITDA)
of 9.1-9.8 billion euros ($12.8-13.8 billion), down from a
previous outlook range of 10.7-11.4 billion.
FRANKFURT (Reuters) – Europe’s biggest solar company is unlikely to meet profit margin forecasts this year, analysts say, as demand in its largest markets collapses and global competitors start to force down prices.
SMA Solar has long been seen as a cash cow for the sector, treating investors to margins near 30 percent. It is the world’s biggest maker of inverters, which feed solar power from daylight-converting panels into electricity grids.
LOS ANGELES/FRANKFURT (Reuters) – Solar investors should brace themselves for some downright dreadful second-quarter earnings reports in the coming weeks, though the rest of the year may provide some relief to battered solar stocks as panel prices stabilize and profit margins recover.
The solar market likely bottomed in the second quarter after pullbacks in subsidies in No. 2 solar market Italy stalled development of projects there this spring, creating an oversupply of solar panels in the market and sparking a more than 20 percent drop in prices.