{"id":471279,"date":"2010-03-25T12:43:02","date_gmt":"2010-03-25T16:43:02","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=7287"},"modified":"2010-03-25T12:43:02","modified_gmt":"2010-03-25T16:43:02","slug":"q-cells-sells-asset-and-gets-repaid","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/471279","title":{"rendered":"Q-Cells Sells Asset And Gets Repaid"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Funding\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/solar.png\" width=\"8\" height=\"8\" alt=\"\" title=\"Solar\" \/><\/p>\n<p><a href=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/03\/iStock_000003031633Small1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-6966\" title=\"iStock_000003031633Small\" src=\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/03\/iStock_000003031633Small1-150x150.jpg\" alt=\"\" width=\"118\" height=\"118\" \/><\/a>German photovoltaic panel maker Q-Cells and partners EverGreen Solar of the U.S. and Norway&#8217;s Renewable Energy Corp., have agreed to sell their shares in Sovello, a solar panel maker, to Ventizz Capital Partners, a private equity firm based in D\u00fcsseldorf.<br \/>\n<span id=\"more-7287\"><\/span><\/p>\n<p>The parties did not disclose the terms of the deal &#8212; <a href=\"http:\/\/www.ventizz.de\/en\/pm100324.php\" >see full press release<\/a>.<\/p>\n<p>The sale is part of an ongoing divestiture program Q-Cells launched last year, during the financial crisis, to strengthen its cash position.<\/p>\n<p>Earlier this month, Q-Cells&#8217;s founding Chief Executive Anton Milner <a href=\"http:\/\/greenenergyreporter.com\/2010\/03\/anton-milner-q-cells-ceo-resigns-cfo-cen-to-lead\/#more-6928\" >resigned shortly after the company<\/a> reported losses of \u20ac1.36 billion ($1.84 billion). Chief Financial Officer Nedim Cen has taken over as CEO.<\/p>\n<p>Things, though, seem to be looking up for the German solar company. On Thursday it announced that it expects sales this year to increase to between \u20ac1 billion and \u20ac1.2 billion, <a href=\"http:\/\/www.businessweek.com\/news\/2010-03-24\/q-cells-shares-surge-in-frankfurt-on-sales-forecast-asset-sale.html\" >reports BusinessWeek&#8217;s online edition<\/a>.<\/p>\n<p>Separately, the company said today that it had reached a deal with Canadian silicon supplier Timminco, <a href=\"http:\/\/www.timminco.com\/PressRelease.aspx?id=24&amp;prId=1137003\" >which plans to issue 15.9 million company shares to repay a majority of the \u20ac9.7 million it owes Q-Cells<\/a>, after it ended a long-term\u00a0supply contract in 2008.<\/p>\n<p>Image: iStockphoto<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/GreenEnergyReporter\/~4\/uNW9edlUmtE\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German photovoltaic panel maker Q-Cells and partners EverGreen Solar of the U.S. and Norway&#8217;s Renewable Energy Corp., have agreed to sell their shares in Sovello, a solar panel maker, to Ventizz Capital Partners, a private equity firm based in D\u00fcsseldorf. The parties did not disclose the terms of the deal &#8212; see full press release. [&hellip;]<\/p>\n","protected":false},"author":2814,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-471279","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/471279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/2814"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=471279"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/471279\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=471279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=471279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=471279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}