LATEST UPDATES ON INDUSTRY DYNAMICS
Recently, there has been a sudden surge in the market of Photovoltaic Solar Cells. Read on to know about the three biggest deals that can change the industry.
HANWHA
Hanwha has decided to streamline trade division due to the economic slowdown caused by the pandemic. The workers have started to take early retirement. The company hired 281 employees in June.
The trading unit has lost more than 24 million won in since the last year.
The officials at Hanwha have said that it was inevitable for this to take place in order to ease the losses caused by the pandemic.
FIRST SOLAR
Verizon entered into two Renewable Energy Purchase Agreements (REPAs) with First Solar for an aggregate of up to 296 MW of capacity from two solar facilities that are under development in the PJM Interconnection regional market and that First Solar intends to power using its lowest carbon footprint solar modules. The agreements with First Solar have 15-year terms from the commencement of each facility’s entry into commercial operations, which is expected in late 2022. The agreements are generally expected to be financially settled.
SUNPOWER
SunPower has announced today the breaking of its ties with its long time Singapore based partner, Maxeon Solar Technologies. The holders of SunPower stock have received one Maxeon share for every eight shares they held on close of business. As a result, Maxon’s ordinary shares today start trading on Nasdaq under the ticker symbol “MAXN”
Sunpower will still be led by CEO Tim Burner. It will focus on being a North American distributed generation (DG), storage and energy services company with headquarters in California’s Silicon Valley. Maxeon and SunPower are now working together to develop and commercialise next-generation solar panel technologies. Early-stage research is being carried out by SunPower’s Silicon Valley-based research and development (R&D) team, while deployment-focused innovation and scale-up are conducted by Maxeon.
