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Solar: Germany's Q-Cells Announces IPO

Q-Cells, a leading solar cell manufacturer, announced its much anticipated IPO. The company will give details during a Frankfurt news conference today. According to Reuters, financial sources expect Q-Cells to make its stock exchange debut on Oct. 5. In an official announcement in the Frankfurter Allgemeine Zeitung newspaper, Q-Cells said its subscription period will run from Sept. 21 to Oct. 4, and will offer shares in a range of 29 euros to 34 euros per share in the IPO. The company plans to offer about 8.24 million shares which values the IPO at 280 million euros (US$340.3 million).

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United Solar Ovonic Enters Into Chinese Joint Venture

Energy Conversion Devices, Inc. Nasdaq: ENER) announced its subsidiary, United Solar Ovonic, has entered into a Memorandum of Understanding with Tianjin Jinneng Investment Company to form a joint venture to establish a 25-megawatt thin-film triple-junction amorphous silicon photovoltaic module manufacturing operation in Tianjin, the People’s Republic of China. ECD Ovonics’ Production Technology and Machine Building Division will build the manufacturing equipment for the joint venture. ECD Ovonics designed and built United Solar Ovonic’s existing 25MW photovoltaic manufacturing equipment and is building the second facility, which will double United Solar Ovonic’s U.S. manufacturing capacity. In addition to its existing 25MW photovoltaic manufacturing plant, United Solar Ovonic broke ground in July 2005 for its second state-of-the-art solar module manufacturing plant in Auburn Hills, Mich., to double its solar cell/module manufacturing capacity. Occupancy of the new facility is scheduled for May 2006, and it is anticipated that the plant will begin manufacturing products in the fall of 2006 following optimization of the manufacturing equipment. Compared to conventional solar technology utilizing single crystal or polycrystal silicon, United Solar Ovonic’s thin-film solar cells are 100 times thinner, do not use crystalline silicon material and, therefore, are unaffected by the scarcity of silicon worldwide. The products, […]

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SCHOTT AG to Acquire RWE Share in RWE SCHOTT Solar GmbH

Effective October 1, 2005, SCHOTT AG (Mainz, Germany) will acquire the 50 percent share that RWE Solutions AG (Neu-Isenburg) holds in RWE SCHOTT Solar GmbH (Alzenau, Germany). The move means that SCHOTT will become the sole shareholder in the joint venture, first formed in 2002. The company will conduct business under its new name, SCHOTT Solar GmbH (SCHOTT Solar, Inc. in America), and its main office will remain in Alzenau. Completion of the transaction is subject to approval by German antitrust authorities. RWE SCHOTT Solar GmbH employs a total staff of more than 900 employees in various regions of the world, and ranks as one of the world’s leading manufacturers of PV solar electricity components. The company covers basically all areas of the value creation chain, including wafers, cells and modules. Michael Stadler, Chairman of the Management Board at RWE Solutions AG: “SCHOTT and RWE Solutions have been successful in advancing PV solar electricity technology over the past few years. Now that large scale industrial production has commenced, this represents the perfect point in time for us to transfer our shares to SCHOTT AG. RWE does not view itself to be a manufacturer of power plants but rather is focusing […]

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