Suntech Power painted a gloomy picture for investors back in February. The company’s fourth quarter and full year earnings came in below estimates, and its failure to lock in sufficient polysilicon supplies forced Suntech to revise down its 2008 production estimates from 700 MW to 530 MW. Rising spot market prices and difficulties finding suppliers [...]
A former Imperium Renewables employee has sued the beleaguered biodiesel company. Kenneth Orr, the company’s former managing director of trading and commodities, is suing his former employer for $12 million, seeking double damages, attorney’s fees, and interest. Orr had earned $58 million buying and selling biodiesel commodities and, according to the complaint, he was entitled [...]
A 2:00 A.M. Friday morning a compromise was reached between the Christian Democratic Union and the opposition Social Democratic Party to cut feed-in tariffs at a rate lower than the initial 25 percent to 30 percent proposed earlier this month by CDU MP Joachim Pfeiffer. Herman Scheer, president of Eurosolar and an SDU MP, acknowledged [...]
Crude oil prices settled down $4.41 to close the day at $126.62 in New York trading. This is lowest price level since May 16, and the largest single day drop in the price of light sweet crude since March 31. The drop came in only after a sharp spike in morning trading following the release [...]
Rumors spread yesterday that Germany’s Q-Cells was planning to sell its 17.9 percent stake in Renewable Energy Corporation. Q-Cells, the world’s largest solar cell manufacturer, declined to comment on the rumor that sent its stock down 3.7 percent to €73.53. Norway-based REC is currently building 1.5 GW manufacturing plant in Singapore that will combine its [...]
Abu Dhabi is shopping its way into the solar industry.
Masdar PV, the solar subsidiary of the multibillion-dollar cleantech effort, will invest approximately $2 billion into thin film silicon solar plants. The first plant, in Erfurt, Germany, will be open by the third quarter of next year. A second facility in Abu Dhabi will be open [...]
Green Light is the traffic cop at the intersection of green technology, business and policy. We cover the highs and lows of the greentech market, providing news, commentary and analysis on the companies and personalities–-winners and losers alike-–driving its growth and evolution.
Buildings are the George Harrison of green tech. Usually, it's the first two guys--solar and biofuels--that come to mind when the green tech gets debated. ...
Tesla Motors chairman Elon Musk is serious about getting beyond sports cars. At a press conference with California Governor Arnold Schwarzenegger, Tesla co-founder and chairman Elon ...
Despite the near daily hum telling us that we're in big trouble, sometimes we read something that makes us think: wow, we're in big trouble. ...
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