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Energy

SolarWorld Operating Loss Highlights More Solar Dumping Woes for All Players

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By Jon C. Ogg Updated Published
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SolarWorld AG may not have a primary market listing in the United States, but the German solar power systems outfit often is considered a key player in the solar sector. Now the German outfit is blaming solar dumping for its loss in the first half. It also has warned of an operating loss for all of 2012 as the pressures in the sector (and of course in Europe) continue to mount.

SolarWorld shares are down almost 11% in Frankfurt trading and the gravitational pull is evident here in the United States as well. First Solar Inc. (NASDAQ: FSLR) is down about 1.5% at $21.11. However, SunPower Corp. (NASDAQ: SPWR) is bucking the trend; shares are more than 1% higher.

What is interesting is that SolarWorld managed to renegotiate terms of a 372 million euro loan just last month because it would have been at risk of breaking debt covenants.

If you will recall, we covered just last month how SolarWorld was the leader of the efforts in the complaints against Chinese companies. Solar makers Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), LDK Solar Co. Ltd. (NYSE: LDK), Trina Solar Ltd. (NYSE: TSL), Suntech Power Holdings Co. Ltd. (NYSE: STP), JA Solar Holdings Co. Ltd. (NASDAQ: JASO) and JinkoSolar Holding Co. Ltd. (NYSE: JKS) were all under pressure.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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