Japanese PV and technology company Kyocera has seen its income drop by ¥20 billion (USD250 million) to ¥253 billion (USD325 million) in the first half of its current fiscal year due to a steep decline in sales of solar products outside Japan.
News that Suzlon Energy is set to default on over USD200 million in overseas convertible bonds and that Sinovel's net profits for the first nine months of the year would be down 50 percent, indicate that global wind turbine companies are facing financial hurdles so far mainly experienced by the solar sector.
Yingli Green Energy Holding and JA Solar Holdings, two of China’s top four solar cell makers, cut forecasts for total shipments for the year after losses widened and prices of their products plunged.
Sinovel Wind Group, which was until last year China's largest wind turbine maker, saw its net profits plummet 96.25 percent year-on-year in the first half of 2012 due to sluggish demand and fierce competition.
Chinese photovoltaic (PV) company JA Solar recorded a net loss of RMB375.6 million (USD89.7 million) for 2011, compared to an income worth RMB1.3 billion the previous year.
LDK Solar Co. (LDK), the world’s second-largest maker of solar wafers, lost 38 percent of its market value in four trading days as analysts cut estimates and questioned whether its balance sheet can withstand a global oversupply and threats from US tariffs, according to a Bloomberg report today.
India-based wind turbine manufacturer Suzlon has recorded a Rs479 crore (USD87m) net loss for the 2011 financial year although reporting a yearly revenue growth of 18 percent to Rs21,000 crore.
This report by the World Bank spells out what the world would be like if it warmed by 4 degrees Celsius, which is what scientists are nearly unanimously predicting by the end of the century, without serious policy changes.
Companies in Asia reveal expectations that regulations that could lead to rising costs for reporting and reducing GHG emissions will also be the main sources of climate-related business opportunities.
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