Energy Conversion suspends manufacturing
Nov 8 (Reuters) - Energy Conversion Devices Inc on Tuesday said it temporarily suspended manufacturing of its lightweight solar products, is cutting 500 jobs and has hired an advisory firm to help attract additional investment as it struggles to compete in the cutthroat solar power industry.
The company said that "solar projects are having tremendous difficulty closing" with the cutback in solar incentives in Europe and a volatile credit market.
Enel Green Power sticks to full-year targets
MILAN, Nov 8 (Reuters) - Enel Green Power , Italy's biggest renewables company, stuck to its full-year targets on Tuesday and said it was in a position to fund its investment program to 2015 with its cash flow.
The company, controlled by Italy's biggest utility Enel , is targeting core earnings of 1.4 billion euros ($1.9 billion) in 2011 and additional capacity of 800 megawatts.
U.S. solar panel probe will undermine China trade-commentary
BEIJING, Nov 8 (Reuters) - A U.S. anti-dumping probe into Chinese solar panel makers will undermine bilateral trade and harm global efforts to develop clean energy and cut emissions, the official Chinese news agency Xinhua said in a commentary published on Tuesday.
It said the United States was blaming China "to cosset its own inefficiency and incompetence", and that the growing strength of the Chinese solar sector was a result of innovation, efficiency and hard work, rather than unfair trade practices or hidden subsidies.
Australia's green power drive could worry wind investors
SINGAPORE, Nov 8 (Reuters) - Australia is set to unlock more than A$13 billion in government funds for clean energy that could boost investments for large solar power stations, but wind farm developers are at risk if the money disrupts an existing green scheme.
The Senate on Tuesday passed laws supporting renewables and a national carbon price to accelerate investment in cleaner energy.
Yingli, ReneSola warn weak solar hurt 3rd quarter
Nov 7 (Reuters) - China's Yingli Green Energy Holding and ReneSola Ltd became the latest solar makers to cut shipment and profit margin forecasts as the industry struggles to cope with the steep decline in panel prices.
The news pushed Yingli's U.S. shares down 2.2 percent to $3.61 and ReneSola down 6.8 percent to $2.21 in early trading. Yingli stock is down 62 percent this year, while ReneSola has fallen 75 percent.
Vestas says is preferred supplier to Eneco wind farm
COPENHAGEN, Nov 7 (Reuters) - Denmark's Vestas Wind Systems A/S , the world's biggest maker of wind turbines, said on Monday it had been appointed preferred supplier by Netherlands-based integrated utility Eneco Holding NV for an offshore wind farm. Eneco earlier said Vestas would supply it with 43 of its V112-3.0 megawatt turbines at a total capacity of 129 MW.
ATS-owned French solar maker plans bankruptcy
Nov 4 (Reuters) - French solar panel maker Photowatt faced collapse on Friday after its parent ATS Automation Tooling Systems Inc said the unit had begun proceedings to file for bankruptcy, blaming a drop in demand and tough competition.
Canada's ATS failed to find a buyer for its struggling subsidiary last month against a backdrop of falling prices, squeezed profits and lower subsidies for solar power in Europe.
Spain's govt, wind sector fail to agree on subsidies
MADRID, Nov 4 (Reuters) - Spain's Socialist government and its wind power industry failed to reach agreement on subsidies for new capacity post 2012 and any decision on sector support should be left until after the Nov. 20 elections, wind power lobby AEE said on Friday.
The AEE said it had asked the government to scrap its plans to legislate on a wind power subsidy it says will cut financing for the sector, destroy over 15,000 jobs an make 2020 renewable energy installation targets unachievable.
Spain wind power sector pushes govt on final offer
MADRID, Nov 3 (Reuters) - Spain's wind power industry is pushing the government to further improve a proposal for subsidies after 2012 that the ruling Socialists have said is their 'final' offer, a spokeswoman for the sector's lobby AEE said on Thursday.
In a last ditch attempt to break a deadlock between the wind power sector and Spain's Socialist government over subsidies, the government has improved its original proposals for minimum returns for the industry, but wind energy generators say it is still not enough.
GE's Immelt worries U.S. not leading on renewables
Nov 3 (Reuters) - General Electric Co's Jeff Immelt worries the United States may lose ground to China in the renewable energy sector because it is not prepared to invest in solar, wind and other technologies on the same scale.
But the chief executive of the largest U.S. conglomerate said his company remains undaunted and will continue to work in the sector despite the recent bankruptcy of solar panel maker Solyndra, which has attracted intense public attention for failing despite federal loan guarantees.
Austria eyes hydro power projects in Serbia
SARAJEVO, Nov 3 (Reuters) - Austria and Serbia on Thursday signed a preliminary deal to invest hundreds of millions of euros to overhaul Serbia's ageing hydro-power plants and to build new ones.
Under the deal the two countries, which will jointly invest in projects, will set up an inter-government panel to identify potential deals.
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