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.


SolarEnergyTradeShow_id1384

Solar Careers
Latest Top Stories

Fees For DG Solar Fire Up Advocates And Utilities In Utah And Massachusetts

Regulatory hearings in Utah and legislative wrangles in Massachusetts are two of the latest examples of the transformative effect distributed generation (DG) solar is having on the U.S. electric power industry.


Report Benchmarks U.S. Electric Utility Clean Energy Deployment

As the U.S. Environmental Protection Agency prepares for its listening sessions on its Clean Power Plan for existing power plants next week, a new report ranks the cleantech performance of nation’s largest electric utilities.


Solar Sector Fears WTO Ruling Against Tariffs Won't Save The U.S. From Itself

Although the WTO says U.S. anti-dumping tariffs levied on Chinese PV manufacturers are improper, few expect the ruling to prevent a rise in module prices.


Xcel Energy Offers Solar*Rewards 'Bridge' For Colorado Solar Installations

As an incentive for the continued development of customer-sited solar, Public Service Co. of Colorado has agreed to advance capacity for its popular Solar*Rewards program.


Flexible Sources Key To Integrating Solar PV Into Utility Operations

A report from three U.S. Department of Energy labs proposes a framework for integrating various amounts of PV into the grid.

Lufft_id
S&C Electric_id1352
PVcobra_id1394
WIP_id1320
SnakeTray_id1373