Subscribe today and receive an extra account for free.
Subscribe(SeeNews) - Mar 22, 2013 - German industrial group Robert Bosch said today it will withdraw from its solar business after a loss of about EUR 1 billion (USD 1.3bn) last year.
The company plans to discontinue its production of crystalline solar cells in the German town of Arnstadt at the start of 2014 as well as all its development and marketing activities. Bosch intends to sell its plant in France and the shares in subsidiary Aleo Solar.
According to preliminary data, the solar business pushed down the company's 2012 performance by about EUR 1 billion. The unit booked an operating loss of EUR 450 million and unplanned impairments of about EUR 600 million. The company already wrote off EUR 560 million in 2011 and EUR 425 million in 2009.
Bosch announced at the end of January that its solar activities have no accounting value left and the company sees no chances to make profit in the segment.
(EUR 1 = USD 1.3)
Toyota, Chubu Electric to form renewable power venture
Apr 03, 2020 14:38 CEST
NextEnergy Capital buys 100-MWp community PV portfolio in New York
Apr 03, 2020 11:43 CEST
Iberdrola to turn on money tap in 2020 against COVID-19 economic slump
Apr 02, 2020 18:00 CEST
Malaysia's Yinson buys into 140-MW bundle of Indian solar parks
Apr 02, 2020 13:16 CEST
Glennmont to sell 30-MW Portuguese PV portfolio to Finerge
Mar 31, 2020 15:39 CEST
Spanish PV players under lockdown see the sun in the long term
Mar 30, 2020 23:00 CEST