BERLIN/FRANKFURT (Reuters) – Germany may trim incentives for solar power producers next year but still aims to double the proportion of energy it generates from renewable sources by 2020, despite overcapacity and a subdued economic outlook.
Senior government and industry officials told Reuters both sides want to work together in January to reform the Renewable Energy Act (EEG), which regulates a gradual annual drop in feed-in tariffs, to reflect a steeper overall slide in costs.
FRANKFURT (Reuters) – European shares were higher on Monday, on track for their third consecutive session of gains, as banking stocks added the most points to the leading index following Abu Dhabi’s $10 billion lifeline to Dubai.
By 1122 GMT (6:22 a.m. EST), the FTSEurofirst 300 index of leading European shares was up 0.6 percent at 1,016.04 points. The index is up 57 percent since reaching a record low in March and is 22 percent higher year-to-date.
FRANKFURT, Dec 11 (Reuters) – European shares rose on Friday
as commodity stocks and banking shares led the market higher,
while investors were awaiting a slew of key U.S. economic data
later in the day.
At 0915 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was up 0.9 percent at 1,014.34 points after
advancing 1 percent on Thursday.
FRANKFURT, Dec 4 (Reuters) – Q-Cells <QCEG.DE>, one of the
world’s largest makers of solar cells, renegotiated a contract
with the Chinese company LDK Solar <LDK.N>, a move that gives
the German company flexibility over component wafer supplies. An industry oversupply of solar parts, such as wafers, has caused prices for components to drop by up to 50 percent, leading analysts to question Q-Cells' future as it piled up losses of nearly 1 billion euros ($1.51 billion) this year. [ID:nL8642967] [ID:nLR576752] Both companies on Friday struck a deal not to take legal action against each other, freeing up Q-Cells to focus on its ongoing restructuring. As part of the agreement, Q-Cells said it would not seek a $244.5 million bank guarantee secured by a German bank as part of the original LDK contract, which was signed in 2007 and fell apart last month. Q-Cells and LDK said the contract, under which LDK supplies wafers to Q-Cells from 2009 to 2018, would remain intact, but with conditions changed. "Q-Cells and LDK Solar have agreed to increase the flexibility of delivery schedule. Flexible pricing based on market levels and Q-Cells' preferred customer status will apply for the entire remainder of the contract term," the companies said in a joint statement. "This is good news for Q-Cells, although they now will not have the $244.5 million guarantee," said SES Research analyst Karsten von Blumenthal. "The contract is much more flexible now and Q-Cells does not have to source that many wafers which eases the pressure," Blumenthal said. Shares in Q-Cells turned positive on the news and were up 3.12 percent at 1513 GMT, outperforming the S&P global clean energy index <.SPGTCLEE>, which stood 1.78 percent higher. The news also lifted shares of LDK, which were up 7.3 percent at $8.99 in trading on Friday on the New York Stock Exchange. Q-Cells had made a prepayment of $244.5 million shortly after it signed the contract with LDK in late 2007, when wafer prices were much higher. [ID:nLB171076] The row between Q-Cells and LDK had raised questions about the viability of a separate joint venture project which was set up in April. However, the companies said they were improving their cooperation, with Q-Cells set to supply cells for LDK's module production, while LDK's panels would then be used in Q-Cells's solar parks. ($1=.6634 Euro) (Additional reporting by Laura Isensee in Los Angeles; Editing by Sharon Lindores) ((firstname.lastname@example.org; + 49 69 7565 1269; Reuters Messaging: email@example.com))
FRANKFURT/LONDON (Reuters) – Google Inc <GOOG.O> prides itself on setting trends and its $750 million buy of mobile advertising group AdMob may be no exception.
A flurry of mergers and acquisitions is on the cards next year in the mobile ad industry as media players are encouraged by Google’s move in their quest for new revenue streams in the fast-growing area.
FRANKFURT, Dec 3 (Reuters) – European stocks were slightly
firmer on Thursday as the European Central Bank kept its main
interest rate unchanged as expected and news from Bank of
America <BAC.N> pushed banking stocks higher.
At 1251 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was up 0.3 percent at 1,019.07 points.
FRANKFURT, Dec 3 (Reuters) – European shares rose for a
third consecutive session on Thursday, with Bank of America’s
<BAC.N> plan to repay government debt boosting financials and
improving market sentiment.
At 1103 GMT the FTSEurofirst 300 <.FTEU3> index of top
European shares was up 0.4 percent at 1,020.20 points.
FRANKFURT, Dec 2 (Reuters) – European equities edged lower
on Wednesday after their biggest one-day gain in more than 4
months in the previous session, as a decline in banking stocks
offset higher pharma and food shares.
At 1132 GMT, the pan-European FTSEurofirst 300 <.FTEU3>
index of top shares was 0.2 percent lower at 1,009.49 points.
FRANKFURT (Reuters) – Heliocentris Fuel Cells, a German expert for clean energy storage, sees higher sales next year as it hopes to benefit from support programmes around the world, its chief financial officer told Reuters.
“Next year, we want to grow regarding revenues as we expect the market for clean energy storage to pick up further,” Andras Gosztonyi said in an interview on Tuesday.
FRANKFURT (Reuters) – European shares fell further on Friday, a day after posting their biggest one-day drop in seven months, as concerns about contagion from Dubai’s debt crisis curbed investors’ appetite for riskier assets.
By 0922 GMT, the FTSEurofirst 3000 was down 0.3 percent at 984.99 points but trimmed earlier losses, having been down as much as 1.7 percent.