BEIJING (AP) — Suntech, one of the world's biggest solar panel manufacturers, said Monday it had defaulted on a $541 million bond payment in the latest sign of the financial squeeze on the struggling global solar industry.
Suntech Power Holdings Co. has no plans to make a principle payment on $541 in convertible bonds, a move that could ultimately lead to default, Bloomberg reports.
The Solar Energy Industries Association said new U.S. solar power capacity increased 76 percent from 2011 levels last year, making 2012 the best year to date for the domestic solar market, The New York Times reports.
House Budget Chairman Paul Ryan's budget refers to two solar projects backed by Energy Department loans as "ill-fated ventures" despite the continued viability of both projects, The Washington Post reports.
Wind and solar developers have filed hundreds of proposals for projects on federal property in a renewable energy land rush that started with passage of the 2005 energy law, though only a relative few have been approved.
In a new report issued Wednesday, the Government Accountability Office said 416 applications have been filed with the Bureau of Land Management for utility-scale projects since the law's passage. Of those, 350 were for solar development on lands in Arizona, California and Nevada.
Interior Secretary Ken Salazar joined California Gov. Jerry Brown to announce the approval of construction for three renewable energy projects on Bureau of Land Management land in Nevada and California, The Associated Press reports.
Government sources say China will not bailout struggling Suntech Power Holdings, once the largest solar-panel manufacturer in the world, Bloomberg reports.
WASHINGTON (AP) — American businesses complained to lawmakers Wednesday about Indian trade protectionism, contending that tariff and regulatory barriers are shutting out foreign firms despite the nation's market-opening reforms.
Analysts predict the solar energy industry will grow the most since 2011, driven by China becoming the largest market for the $77 billion industry, Bloomberg reports.
Liberal watchdog group Checks and Balances Project said the State Department inspector general is investigating potential conflicts of interests in the department's environmental review of the Keystone XL pipeline, The Hill reports.
West Virginia Gov. Earl Ray Tomblin and Attorney General Patrick Morrisey joined a push to have the Supreme Court rule to overturn EPA greenhouse gas regulations, The Charleston Gazette reports.
Sen. Tim Kaine, D-Va., voiced optimism that President Obama would not veto his bill to authorize oil and gas drilling off the coast of Virginia, The Hill reports.
The National Oceanic and Atmospheric Administration said a key satellite tasked with tracking severe eastern weather failed and a spare has been activated, Reuters reports.
The new chemical safety compromise bill introduced by Sens. David Vitter, R-La., and Frank Lautenberg, D-N.J., now has 20 co-sponsors, The Hill reports.
Participants in the Energy Department's Better Buildings Challenge, designed to reduce energy consumption at buildings, saved about $58 million in energy costs last year, The Journal Sentinel reports.
In a Q&A with State House News Service, Massachusetts Senate candidates Rep. Ed Markey, D, and Gabriel Gomez, R, give their take on the Senate battle to confirm EPA nominee Gina McCarthy.
In an interview with GreenBiz.com, Massachusetts Gov. Deval Patrick discusses his vision for his state's energy policy, including his plans for offshore wind generation.
New York Gov. Andrew Cuomo's plan to reform the Long Island Power Authority over flaws exposed by Hurricane Sandy is unpopular among municipal bond investors, Bloomberg reports.
