in News Departments > FYI
print the content item

comments: 0

Citing flagging revenues and operational losses, AEG Power Solutions (PS) has decided to close its subsidiary in Lannion, France.

The AEG PS Group says its total revenues decreased nearly 11% from 2011 to 2012, and the group is expecting a 25% decrease in 2013. Earnings were down 66% in 2012 compared with 2011, and losses are expected for 2013 as well.

The board of 3W Power, the holding company of AEG PS, has appointed Jeffrey Casper, chief financial officer of the group, as chief restructuring officer in charge of a recovery program for the company.

The Lannion business intends to file for bankruptcy. France's solar sector has been struggling with job losses.


IronRidge_id1414

ModSolar_A_id1434
Latest Top Stories

TVA Reconsiders Solar's Role And Value In New Resource Plan And Grid Study

Critics point to wide variations in caps and premiums paid for solar under the Tennessee Valley Authority's (TVA) current plan. The utility agency says it will incorporate more solar stakeholders in future programs.


After Massachusetts' 'Godfather Of Solar' Exits, Will The New Gov. Step Up?

Bay State solar developers and suppliers look back on the legacy of Gov. Deval Patrick while awaiting Massachusetts’ incoming chief executive.


Do PV Customers Benefit From Incentive Programs In California?

Government incentives, such as the California Solar Initiative, have been instrumental in the growth of the photovoltaic industry over the past decade. Researchers have studied the degree to which these incentives have been passed on to PV customers.


Volatility Creeping Into Mass. Solar Sector Shakes Up Larger Developers

Players in the so-called "managed growth" sector of the commonwealth - 6 MW and larger - are concerned that the field keeps shifting under their feet.


New UL Energy Storage Standard Aims For Better, Safer Renewable Power

As the Talking Heads said, "Things fall apart. It's scientific." UL is turning its scientific study of how and why things fail to produce a testing and certification regime for building better renewable energy grids.

CanSolIndus_id1429
Lufft_id1410
Heilind_id1430
PVcobra_id1394
Ingeteam_id1433