Chinese solar product manufacturer ReneSola has signed a share purchase agreement to acquire 100 per cent of the shares in Dynamic Green Energy in exchange for a $10m convertible promissory note and nearly 26 million ReneSola shares.
Dynamic Green produces a range of photovoltaic products and equipment. The company operates several facilities in China including wafer manufacturing facilities in Hebei province, a silicon manufacturing facility in Guizhou province, cell manufacturing facilities in Hubei province and OEM facilities in Guangdong province.
ReneSola’s CEO, Xianshou Li, said, ‘We believe the strategic benefits of uniting two highly complementary companies will create additional shareholder value through earnings accretion and access to new growth opportunities.’
Investors are positive about the move. Mark Chen, senior managing director at Dynamic Green’s second largest investor GE Capital Asia Pacific, said, ‘As a strategic investor, we believe the combination of these two leading players in the solar energy space will create a stronger platform to capture even more growth opportunities. The powerful merger synergies will also ultimately benefit customers and shareholders for the enlarged company.’
In 2007, Dynamic Green had a net loss of $10.4m and net income of $5.6m in 2008. In the first half of 2009, Dynamic Green estimates that it had net revenues of approximately $15m and gross profit of approximately $3m. Dynamic Green expects to incur a net loss in the first half of 2009.
Dynamic Green, owner of subsidiary Jiawei, is a photovoltaic solar products manufacturer in China. ReneSola is a manufacturer of solar products based in China that has a global network of suppliers and customers including manufacturers of solar cells and modules.
Copyright © 2009 NewNet
Tuesday, September 29, 2009
Friday, September 25, 2009
Foreign PV enterprises seek opportunities in China
Despite China's domestic worries about an overcapacity forming in the photovoltaic (PV) industry, many foreign PV enterprises are now seeking opportunities in China.
PV enterprises including Phoenix Solar AG of Germany and Duke Energy of the US are included in those foreign enterprises entering China's PV market.
"So far no discrimination against foreign companies has been detected in China's PV field," Murray Cameron, the chief operating officer of Phoenix Solar AG, said to the 21st Century Business Herald. "Many foreign companies can fully participate in the competition for power station projects in China."
Duke Energy, the third largest US electric power holding company, has entered deeper into the Chinese market than Phoenix Solar. Jim Rogers, the CEO of Duke Energy, noted that the company has signed agreements with several Chinese enterprises to develop energy technology including solar power.
Besides, the global PV modules giant First Solar landed in China this September to kick off the construction of a solar power plant.
However, as the foreign PV enterprises advance towards China's market, domestic worries of an overheating are strong. But Cameron noted that international companies rich in experience would consider their operational risks when entering China's market.
One insider pointed out that many foreign PV giants choose to cooperate with China's state-owned enterprises to reduce their investment risks.
PV enterprises including Phoenix Solar AG of Germany and Duke Energy of the US are included in those foreign enterprises entering China's PV market.
"So far no discrimination against foreign companies has been detected in China's PV field," Murray Cameron, the chief operating officer of Phoenix Solar AG, said to the 21st Century Business Herald. "Many foreign companies can fully participate in the competition for power station projects in China."
Duke Energy, the third largest US electric power holding company, has entered deeper into the Chinese market than Phoenix Solar. Jim Rogers, the CEO of Duke Energy, noted that the company has signed agreements with several Chinese enterprises to develop energy technology including solar power.
Besides, the global PV modules giant First Solar landed in China this September to kick off the construction of a solar power plant.
However, as the foreign PV enterprises advance towards China's market, domestic worries of an overheating are strong. But Cameron noted that international companies rich in experience would consider their operational risks when entering China's market.
One insider pointed out that many foreign PV giants choose to cooperate with China's state-owned enterprises to reduce their investment risks.
Thursday, September 24, 2009
Polysilicon Prices
Polysilicon price will continue to decline to $50/kg by the end of 2009 and further to $40/kg next year due to deteriorating oversupply and continued inventory de-stocking. Due to the relatively low entry barriers and cost reduction along the rest of the manufacturing process, module price could decline to $1.6/Wp before end of FY10.
The only way for the China solar industry to find a demand supply balance would be for the polysilicon price to drop to a level so that high cost producers temporarily shut down capacity or reduce capacity utilization. Therefore, for the polysilicon price to stabilize at $70/Kg will require a total solar demand of 15GW next year. Even if there is an unexpected positive policy response over the next 12 months, we believe an end demand of 15GW is far too optimistic. So polysilicon price declines must continue.
The only way for the China solar industry to find a demand supply balance would be for the polysilicon price to drop to a level so that high cost producers temporarily shut down capacity or reduce capacity utilization. Therefore, for the polysilicon price to stabilize at $70/Kg will require a total solar demand of 15GW next year. Even if there is an unexpected positive policy response over the next 12 months, we believe an end demand of 15GW is far too optimistic. So polysilicon price declines must continue.
China's Exit Strategy - CNBC.com
Andy Rothman, China macro strategist at CLSA says Beijing will make policy choices to prevent the economy from overheating next year. China's leadership is planning an exit strategy and should come out of downturn in relatively good shape.
China's Exit Strategy - CNBC.com
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China's Exit Strategy - CNBC.com
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Four Key Trina Catalysts
Here are the four key catalysts for Trina over the next twelve months:
1. Strong Shipment Growth (3Q09): Trina will ship 323MW with QoQ shipment growth rates of 55% in 3Q09 and 13% in 4Q09, which will still clearly demonstrate an increase in market share.
2. Installations in domestic China market (4Q09): Trina has filed for 20MW of rooftop projects for MoF subsidy. Although MoF is unlikely to approve all 20MW due to 20MW cap for each province, the submitted projects may still continue with financial support from Jiangsu provincial DRC. Installations will start in 4Q09, which will help improve shipment growth.
3. Cost Reduction (4Q09): In 2Q09, Trina reported multi non-Si manufacturing costs of $0.73/Wp (excluding depreciation), which implies a blended non-Si cost of $0.88/Wp, including depreciation. Management is targeting a further reduction in non-Si cost. If it were to deliver, it could make a significant positive impact on company's gross margin.
4. Credit Crisis Easing (2010): This will be a long, slow process. As government stimulus packages gain some traction, however, financial institutions get recapitalized and solar project IRR's continue to improve, project financing for solar projects should gradually improve.
1. Strong Shipment Growth (3Q09): Trina will ship 323MW with QoQ shipment growth rates of 55% in 3Q09 and 13% in 4Q09, which will still clearly demonstrate an increase in market share.
2. Installations in domestic China market (4Q09): Trina has filed for 20MW of rooftop projects for MoF subsidy. Although MoF is unlikely to approve all 20MW due to 20MW cap for each province, the submitted projects may still continue with financial support from Jiangsu provincial DRC. Installations will start in 4Q09, which will help improve shipment growth.
3. Cost Reduction (4Q09): In 2Q09, Trina reported multi non-Si manufacturing costs of $0.73/Wp (excluding depreciation), which implies a blended non-Si cost of $0.88/Wp, including depreciation. Management is targeting a further reduction in non-Si cost. If it were to deliver, it could make a significant positive impact on company's gross margin.
4. Credit Crisis Easing (2010): This will be a long, slow process. As government stimulus packages gain some traction, however, financial institutions get recapitalized and solar project IRR's continue to improve, project financing for solar projects should gradually improve.
Trina Solar Analysis
Trina's gross margin as well as profitability has improved significantly thanks to its cost advantage. With focus on non-Si cost reduction and supply chain management, Trina reported 27.4% gross margin in Q2'09. Most likely there will be continuous reduction in both materials and non-Si cost.
China Solar Industry's Path to Success
There are very few solar companies globally which are currently truly differentiated. China's solar companies have been successfully finding other ways to make money. You can generate good investment returns by cost efficiency. This is Suntech's main strength and will continue to make the company profitable. Trina may be able to combine low costs with an efficient balance sheet and a moderate capex intensive business. Yingli, on the other hand, has cost efficiencies but is following a capex intensive model.
Yingli Green Energy Wins Global Renewable Energy Award
Baoding, China, September 22, 2009 - Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, has received a Euromoney and Ernst & Young Global Renewable Energy Award. The Awards were founded in 2004 to recognize the projects, companies and individuals who have made significant contributions to the global renewable energy sector.
The 6th annual Euromoney and Ernst & Young Global Renewable Energy Awards, dubbed the "Green Oscars," were presented at the London Science Museum on September 21, 2009. Awards were given in nine categories, from "Lender of the Year" to "Climate Change Investment Program of the Year." Mr. Bryan Li, Chief Financial Officer of Yingli Green Energy, was present on behalf of the Company to accept the "Equity Deal of the Year - Technology" award in recognition of the Company's successful June 2009 equity follow-on offering of 18,390,000 ADSs which helped to raise investors' confidence in the renewable energy sector.
"We are honored to be the first Chinese Company to receive the most prestigious financial award in the renewable energy industry," commented Mr. Li, "At Yingli Green Energy we strive to support sustainable development by supplying global solar markets with low cost, high-quality PV modules. This award is a confirmation and acknowledgment of Yingli Green Energy's continuous efforts and commitment to making a greener world."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE:YGE) is one of the world's leading vertically integrated PV product manufacturers. Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. Based in Baoding, China, Yingli Green Energy sells its PV modules to system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com/ .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For More Information Contact
In China:
Qing Miao
Director, Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86-312-3100-502
www.yinglisolar.com
ir@yinglisolar.com
----------------------------------------
In the United States:
Katie Cralle
Brunswick Group LLC
Tel: +1-212-333-3810
kcralle@brunswickgroup.com
----------------------------------------
The 6th annual Euromoney and Ernst & Young Global Renewable Energy Awards, dubbed the "Green Oscars," were presented at the London Science Museum on September 21, 2009. Awards were given in nine categories, from "Lender of the Year" to "Climate Change Investment Program of the Year." Mr. Bryan Li, Chief Financial Officer of Yingli Green Energy, was present on behalf of the Company to accept the "Equity Deal of the Year - Technology" award in recognition of the Company's successful June 2009 equity follow-on offering of 18,390,000 ADSs which helped to raise investors' confidence in the renewable energy sector.
"We are honored to be the first Chinese Company to receive the most prestigious financial award in the renewable energy industry," commented Mr. Li, "At Yingli Green Energy we strive to support sustainable development by supplying global solar markets with low cost, high-quality PV modules. This award is a confirmation and acknowledgment of Yingli Green Energy's continuous efforts and commitment to making a greener world."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE:YGE) is one of the world's leading vertically integrated PV product manufacturers. Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. Based in Baoding, China, Yingli Green Energy sells its PV modules to system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com/ .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For More Information Contact
In China:
Qing Miao
Director, Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86-312-3100-502
www.yinglisolar.com
ir@yinglisolar.com
----------------------------------------
In the United States:
Katie Cralle
Brunswick Group LLC
Tel: +1-212-333-3810
kcralle@brunswickgroup.com
----------------------------------------
Cleantech investors flock to Asian market amid hopes of a growth boom
Cleantech investors are flocking to the Asian market amid expectations that the Asian environmental market is on the brink of a growth boom. Following the launch of its Asian environmental investment trust, Impax Asset Management believes that a growing need for electricity will make Asia a hot global contender for a cleantech explosion.
Continuous industrialisation and urbanisationin in certain Asian regions, particularly China, is putting immense pressure on urban infrastructure and rising demand for energy efficient methods.
As a result, China recently announced plans to improve the energy efficiency of its factories, homes and power plants and has pledged to increase renewable energy to 15 per cent of the total energy use by 2020.
In addition, Korea’s recent stimulus package has devoted 80 per cent to environmental issues, while the Japanese government appears to be far more vocal on environmental goals than its predecessors.
Furthermore, the Australian government has also taken a crucial step in boosting renewable energy growth, by mandating a 20 per cent renewable energy target by 2020, which could potentially unleash AU$22bn of investment into the sector.
Impax Asset Management said Asian companies are supplying expanding global environmental markets due to their relatively low manufacturing costs.
Bruce Jenkyn-Jones said, ‘We believe the environmental sector has shown overall resilience so far to the global economic slowdown and we are optimistic this will continue, particularly with the growing interest in energy/ climate change issues and strong policy response to rising environmental problems.
‘Our analysis of the environmental market as a whole has revealed there is a lag between Asian environmental stocks and the rest of Europe. Our aim is to capitalise on this rapidly developing sector with its abundance of exciting undervalued companies, and raise the profile of the Asian environmental market to a position commensurate with its huge growth potential.’
Copyright © 2009 NewNet
Continuous industrialisation and urbanisationin in certain Asian regions, particularly China, is putting immense pressure on urban infrastructure and rising demand for energy efficient methods.
As a result, China recently announced plans to improve the energy efficiency of its factories, homes and power plants and has pledged to increase renewable energy to 15 per cent of the total energy use by 2020.
In addition, Korea’s recent stimulus package has devoted 80 per cent to environmental issues, while the Japanese government appears to be far more vocal on environmental goals than its predecessors.
Furthermore, the Australian government has also taken a crucial step in boosting renewable energy growth, by mandating a 20 per cent renewable energy target by 2020, which could potentially unleash AU$22bn of investment into the sector.
Impax Asset Management said Asian companies are supplying expanding global environmental markets due to their relatively low manufacturing costs.
Bruce Jenkyn-Jones said, ‘We believe the environmental sector has shown overall resilience so far to the global economic slowdown and we are optimistic this will continue, particularly with the growing interest in energy/ climate change issues and strong policy response to rising environmental problems.
‘Our analysis of the environmental market as a whole has revealed there is a lag between Asian environmental stocks and the rest of Europe. Our aim is to capitalise on this rapidly developing sector with its abundance of exciting undervalued companies, and raise the profile of the Asian environmental market to a position commensurate with its huge growth potential.’
Copyright © 2009 NewNet
Friday, September 18, 2009
JA Solar Planning To Commercialize Innovalight's Silicon Ink Tech
JA Solar Holdings Co. Ltd. says it is working to commercialize high-performance solar products using silicon ink technology from Innovalight Inc., a privately held firm based in Sunnyvale, Calif.
Innovalight recently announced that it has demonstrated a record 18% conversion efficiency using silicon ink technology and conventional silicon wafers. Results were independently certified by the U.S. Department of Energy's National Renewable Energy Laboratory and The Fraunhofer Institute for Solar Energy Systems in Germany.
JA Solar is currently developing silicon ink-based high-efficiency solar cells at its R&D pilot line in Yangzhou, China, with plans for initial commercialization in 2010.
SOURCE: JA Solar Holdings Co. Ltd.
Innovalight recently announced that it has demonstrated a record 18% conversion efficiency using silicon ink technology and conventional silicon wafers. Results were independently certified by the U.S. Department of Energy's National Renewable Energy Laboratory and The Fraunhofer Institute for Solar Energy Systems in Germany.
JA Solar is currently developing silicon ink-based high-efficiency solar cells at its R&D pilot line in Yangzhou, China, with plans for initial commercialization in 2010.
SOURCE: JA Solar Holdings Co. Ltd.
AES begins commercial operation of three new power plants in Chile, China and Jordan
17th September 2009
AES Corporation, headquartered in Virginia, US, has launched the commercial operations of three new facilities across its global portfolio: Guacolda 3, a 152MW coal plant in Chile; Huanghua I, a 49.5MW wind farm in China; and Amman East, a 380MW combined cycle gas plant in Jordan.
The facilities build on AES’ diverse portfolio of generation and distribution businesses across energy source, technology, and geography.
‘We are helping to meet each country’s growing demand for power, using the best energy source and technology for each market,’ said Andrés Gluski, executive vice president and COO of AES. ‘Achieving operational excellence, as demonstrated by the performance of our dedicated team of construction and engineering professionals, enables us to continue to meet our financial commitments.’
The company said the Guacolda 3 facility is the first coal plant to come on-line in Chile in 12 years, and adds a stable source of energy to the country’s generation portfolio. It is also the first facility in Chile equipped with flue gas desulphurisation technology. Through its subsidiary, AES Gener, AES operates more than 2,800MW of biomass, coal, hydroelectric, diesel and natural gas facilities used to supply the Chilean market.
Huanghua I, a 49.5MW wind project located in the Hebei Province of China, came on-line in September 2009, and the second phase, Huanghua II, is on track to come on-line during the first half of 2010. The Hebei Provincial Power Company will purchase all of the power generated by the wind farm. With this project coming on-line, AES’ wind operations in China has increased from 49.5MW to 98MW, and its total wind portfolio increased from 1,302MW to 1,352MW worldwide.
The Amman East combined cycle gas plant is the first independent power producer in Jordan and increases the country’s electricity generation capacity by 18 per cent, according to AES. Amman East is also one of the most efficient generation facilities in Jordan.
This year AES has completed construction of six projects, totalling 804MW. The company has also started operations at the 80MW Kilroot peaker expansion in Northern Ireland, 12MW of Innovent wind projects in France, and the 130MW Santa Lidia diesel facility this year.
Copyright © 2009 NewNet
AES Corporation, headquartered in Virginia, US, has launched the commercial operations of three new facilities across its global portfolio: Guacolda 3, a 152MW coal plant in Chile; Huanghua I, a 49.5MW wind farm in China; and Amman East, a 380MW combined cycle gas plant in Jordan.
The facilities build on AES’ diverse portfolio of generation and distribution businesses across energy source, technology, and geography.
‘We are helping to meet each country’s growing demand for power, using the best energy source and technology for each market,’ said Andrés Gluski, executive vice president and COO of AES. ‘Achieving operational excellence, as demonstrated by the performance of our dedicated team of construction and engineering professionals, enables us to continue to meet our financial commitments.’
The company said the Guacolda 3 facility is the first coal plant to come on-line in Chile in 12 years, and adds a stable source of energy to the country’s generation portfolio. It is also the first facility in Chile equipped with flue gas desulphurisation technology. Through its subsidiary, AES Gener, AES operates more than 2,800MW of biomass, coal, hydroelectric, diesel and natural gas facilities used to supply the Chilean market.
Huanghua I, a 49.5MW wind project located in the Hebei Province of China, came on-line in September 2009, and the second phase, Huanghua II, is on track to come on-line during the first half of 2010. The Hebei Provincial Power Company will purchase all of the power generated by the wind farm. With this project coming on-line, AES’ wind operations in China has increased from 49.5MW to 98MW, and its total wind portfolio increased from 1,302MW to 1,352MW worldwide.
The Amman East combined cycle gas plant is the first independent power producer in Jordan and increases the country’s electricity generation capacity by 18 per cent, according to AES. Amman East is also one of the most efficient generation facilities in Jordan.
This year AES has completed construction of six projects, totalling 804MW. The company has also started operations at the 80MW Kilroot peaker expansion in Northern Ireland, 12MW of Innovent wind projects in France, and the 130MW Santa Lidia diesel facility this year.
Copyright © 2009 NewNet
Monday, September 14, 2009
Shanghai, China: Solarfun Signs Letter of Intent With Hohhot City
September 8, 2009
Solarfun Power has signed a letter of intent with the government of Hohhot City, the capital city of the Inner Mongolia Autonomous Region in China, to develop two solar projects with an aggregate capacity of 600MW. In support of these two projects, Solarfun also intends to construct a 100MW PV module production facility.
This project is subject to feasibility studies, financing and further government approval.
Vice Mayor of Hohhot City, Wu Wenyuan, commented, "Hohhot City has a number of advantages in developing PV projects, including abundant sunshine and national support. After discussing with and inspecting a number of major PV manufactures in China, we selected Solarfun as a major supplier for these projects. We are excited to partner with Solarfun."
Peter Xie, President of Solarfun, commented, "We are pleased to have signed this strategic agreement with the government of Hohhot City. This agreement demonstrates our solid market position in China and our commitment to the development of China's PV market. Hohhot City has been approved to be one of the pioneer cities for using PV systems by the National Development and Reform Commission and it is a key junction that connects to the North China grid. Hohhot City currently has the largest wind power generation capacity in China and is generally known for its extensive sunshine and commitment to renewable energy projects. We are delighted to supply Hohhot City with our high quality products and expect to further grow our business by taking advantage of the opportunities presented by the new PV incentive policies in China."
Further details about: Solarfun Power
Solarfun Power has signed a letter of intent with the government of Hohhot City, the capital city of the Inner Mongolia Autonomous Region in China, to develop two solar projects with an aggregate capacity of 600MW. In support of these two projects, Solarfun also intends to construct a 100MW PV module production facility.
This project is subject to feasibility studies, financing and further government approval.
Vice Mayor of Hohhot City, Wu Wenyuan, commented, "Hohhot City has a number of advantages in developing PV projects, including abundant sunshine and national support. After discussing with and inspecting a number of major PV manufactures in China, we selected Solarfun as a major supplier for these projects. We are excited to partner with Solarfun."
Peter Xie, President of Solarfun, commented, "We are pleased to have signed this strategic agreement with the government of Hohhot City. This agreement demonstrates our solid market position in China and our commitment to the development of China's PV market. Hohhot City has been approved to be one of the pioneer cities for using PV systems by the National Development and Reform Commission and it is a key junction that connects to the North China grid. Hohhot City currently has the largest wind power generation capacity in China and is generally known for its extensive sunshine and commitment to renewable energy projects. We are delighted to supply Hohhot City with our high quality products and expect to further grow our business by taking advantage of the opportunities presented by the new PV incentive policies in China."
Further details about: Solarfun Power
Solar company REC terminates long-term mono wafer delivery contract with China Sunergy
Solar energy company REC has terminated a long-term contract with China Sunergy for the deliveries of mono wafers.
China Sunergy has not renewed the required guarantees and the companies have not agreed or revised terms and so REC has called upon a $50m bank guarantee established by the customer to cover its payment obligations.
The contract between the two parties covered the delivery of predefined volumes of mono wafers at predefined prices over a six-year period. However, despite efforts to find solutions to the difficult market conditions brought about by the economic downturn, the situation remains unresolved.
REC has stated its willingness to continue negotiations with China Sunergy to come to a solution but if one is not reached REC will consider further legal actions to cover financial losses.
Copyright © 2009 NewNet
China Sunergy has not renewed the required guarantees and the companies have not agreed or revised terms and so REC has called upon a $50m bank guarantee established by the customer to cover its payment obligations.
The contract between the two parties covered the delivery of predefined volumes of mono wafers at predefined prices over a six-year period. However, despite efforts to find solutions to the difficult market conditions brought about by the economic downturn, the situation remains unresolved.
REC has stated its willingness to continue negotiations with China Sunergy to come to a solution but if one is not reached REC will consider further legal actions to cover financial losses.
Copyright © 2009 NewNet
Solar cell manufacturer China Sunergy wins right to suspend payment to Norwegian solar company
Solar cell maker China Sunergy has been granted permission by a court in China to suspend payment of a bank guarantee for $50m to Norwegian solar group Renewable Energy Corporation.
According to reports the Chinese company is disputing REC’s right to cancel a long-term agreement between the companies.
Sunergy consulted Norwegian law firm Bjerknes Wahl-Larsen after REC terminated the contract earlier in the week. REC said its decision came after the partners failed to agree on revised terms of the current contract as Sunergy did not renew the required guarantees as called for under the terms of the contract.
Sunergy recently sold 10MW of solar cells to an Austrian company.
Copyright © 2009 NewNet
According to reports the Chinese company is disputing REC’s right to cancel a long-term agreement between the companies.
Sunergy consulted Norwegian law firm Bjerknes Wahl-Larsen after REC terminated the contract earlier in the week. REC said its decision came after the partners failed to agree on revised terms of the current contract as Sunergy did not renew the required guarantees as called for under the terms of the contract.
Sunergy recently sold 10MW of solar cells to an Austrian company.
Copyright © 2009 NewNet
Thursday, September 10, 2009
Enfinity Will Build 10 MW Solar Project In Dunhuang
Enfinity, a Belgian solar energy company with U.S. headquarters in Sacramento, has been selected to build a major photovoltaic power station in China, in partnership with two China companies.
Enfinity was selected from 14 companies by the Chinese National Development and Reform Commission to build the 10-megawatt project in Dunhuang City, the company said. Enfinity was the only foreign company to participate in the bidding process.
Enfinity’s plans call for building 500 megawatts of solar-panel installations in the Dunhuang region.
Founded five years ago, Enfinity established its U.S. headquarters in Sacramento 18 months ago. Of its 150 employees worldwide, nine work in Sacramento.
“This is a landmark project and the fact that Enfinity was selected amongst so many viable competitors represents a strong vote of confidence in our company’s global scale and capabilities,” Enfinity U.S. general manager Geert Ramault said in a news release.
The winning bidding team includes Enfinity, state-owed China Guandong Nuclear Power Holdings Co. and manufacturer LDK Solar. They won the project with a price of 16 cents per kilowatt-hour.
Enfinity was selected from 14 companies by the Chinese National Development and Reform Commission to build the 10-megawatt project in Dunhuang City, the company said. Enfinity was the only foreign company to participate in the bidding process.
Enfinity’s plans call for building 500 megawatts of solar-panel installations in the Dunhuang region.
Founded five years ago, Enfinity established its U.S. headquarters in Sacramento 18 months ago. Of its 150 employees worldwide, nine work in Sacramento.
“This is a landmark project and the fact that Enfinity was selected amongst so many viable competitors represents a strong vote of confidence in our company’s global scale and capabilities,” Enfinity U.S. general manager Geert Ramault said in a news release.
The winning bidding team includes Enfinity, state-owed China Guandong Nuclear Power Holdings Co. and manufacturer LDK Solar. They won the project with a price of 16 cents per kilowatt-hour.
Sino-US solar power deal generates optimism
China and the US will work together on $12.38-billion of agreements and contracts - including the largest solar power project between the two countries - deals that illuminate the healthy state of bilateral trade ties.
The 41 projects, many centered on investment as well as economic and technological cooperation, were signed in the presence of China's National People's Congress Standing Committee Chairman Wu Bangguo while he attended the one-day US-China Economic and Trade Cooperation Forum in Phoenix on Tuesday.
Wu is the most senior Chinese official to visit the US since President Barack Obama took office.
He traveled to the country at the invitation of Nancy Pelosi, the Speaker of the House of Representatives.
In addition to meeting Pelosi, Wu was expected to sit down with President Obama.
He told delegates at the forum that bilateral trade ties were strong.
"Although no clear signs of world economic recovery have emerged and the long-term impact of the international financial crisis cannot be overlooked, we can be confident about a bright future for China-US economic cooperation and trade," he said.
Among the deals signed was one with First Solar Inc, the world's largest thin-film solar module manufacturer. The company will build a two-gigawatt solar power plant in Ordos, Inner Mongolia.
While touring First Solar, Wu said the Chinese government is seeking a legislature guarantee for the development of renewable energy and he suggested joint research and development efforts, pilot projects and the expansion of mutual investment as ways to increase both countries' solar energy capacity.
Shi Yinhong, an expert in international studies at Renmin University of China in Beijing, said Wu's visit had a "green focus".
"This is also an opportunity to follow up on some issues of mutual interest, such as the adjustment of trade and financial mechanisms to encourage the world economic recovery," he said. Also among the agreements signed in Wu's presence was a $607-million purchase deal between the restructured General Motors and its China joint-venture Shanghai GM.
The Chinese venture will import complete vehicles, vehicle kits, machinery and equipment from its parent company in the US. Buick, Chevrolet and Cadillac vehicles are part of the deal.
Wu also paid a visit to Honeywell International's aerospace headquarters in Phoenix, where he said he would like to see further development "of technological and industrial cooperation between Honeywell and Chinese enterprises".
Gong Li, deputy director of the International Institute for Strategic Studies in Central Party School, pointed out that Wu was the first top legislator to visit the US for many years. "Wu's visit to the US is a breakthrough and a first in the last two decades because inter-congressional exchanges between China and the US have been frozen during the past 20 years because of differences on certain nation-level issues," Gong said.
In 2008, bilateral trade between the nations amounted to $333.74 billion, making China and the US each other's second-largest trading partners. In the first seven months of the year, China and the US signed 888 technology contracts, worth $3.26 billion, up 41.3 percent on last year.
(China Daily, September 10, 2009)
The 41 projects, many centered on investment as well as economic and technological cooperation, were signed in the presence of China's National People's Congress Standing Committee Chairman Wu Bangguo while he attended the one-day US-China Economic and Trade Cooperation Forum in Phoenix on Tuesday.
Wu is the most senior Chinese official to visit the US since President Barack Obama took office.
He traveled to the country at the invitation of Nancy Pelosi, the Speaker of the House of Representatives.
In addition to meeting Pelosi, Wu was expected to sit down with President Obama.
He told delegates at the forum that bilateral trade ties were strong.
"Although no clear signs of world economic recovery have emerged and the long-term impact of the international financial crisis cannot be overlooked, we can be confident about a bright future for China-US economic cooperation and trade," he said.
Among the deals signed was one with First Solar Inc, the world's largest thin-film solar module manufacturer. The company will build a two-gigawatt solar power plant in Ordos, Inner Mongolia.
While touring First Solar, Wu said the Chinese government is seeking a legislature guarantee for the development of renewable energy and he suggested joint research and development efforts, pilot projects and the expansion of mutual investment as ways to increase both countries' solar energy capacity.
Shi Yinhong, an expert in international studies at Renmin University of China in Beijing, said Wu's visit had a "green focus".
"This is also an opportunity to follow up on some issues of mutual interest, such as the adjustment of trade and financial mechanisms to encourage the world economic recovery," he said. Also among the agreements signed in Wu's presence was a $607-million purchase deal between the restructured General Motors and its China joint-venture Shanghai GM.
The Chinese venture will import complete vehicles, vehicle kits, machinery and equipment from its parent company in the US. Buick, Chevrolet and Cadillac vehicles are part of the deal.
Wu also paid a visit to Honeywell International's aerospace headquarters in Phoenix, where he said he would like to see further development "of technological and industrial cooperation between Honeywell and Chinese enterprises".
Gong Li, deputy director of the International Institute for Strategic Studies in Central Party School, pointed out that Wu was the first top legislator to visit the US for many years. "Wu's visit to the US is a breakthrough and a first in the last two decades because inter-congressional exchanges between China and the US have been frozen during the past 20 years because of differences on certain nation-level issues," Gong said.
In 2008, bilateral trade between the nations amounted to $333.74 billion, making China and the US each other's second-largest trading partners. In the first seven months of the year, China and the US signed 888 technology contracts, worth $3.26 billion, up 41.3 percent on last year.
(China Daily, September 10, 2009)
Tianwei Baobian Electric to invest RMB 3.1 bln in solar project
Baoding Tianwei Baobian Electric Co<600550>, a transformer producer based in Baoding, Hebei Province, on Sep. 8 announced that it plans to invest RMB 3.1 billion in a solar project of subsidiary firm Baoding TianWei SolarFilms Co Ltd, in which it owns a 97.22% stake, sources reported.
The subsidiary, which has a registered capital of 360 million, on Jun. 25 successfully produced the first batch of solar modules, having completing phase one of the project. The plant currently has a production capacity of 46.5 megawatts of modules a year.
In the second phase of the project, Baoding Tianwei Baobian Electric will build an assembly line to produce 150 MW of solar modules a year. RMB 2.97 billion of the total RMB 3.1-billion investment will be used for construction.
The subsidiary, which has a registered capital of 360 million, on Jun. 25 successfully produced the first batch of solar modules, having completing phase one of the project. The plant currently has a production capacity of 46.5 megawatts of modules a year.
In the second phase of the project, Baoding Tianwei Baobian Electric will build an assembly line to produce 150 MW of solar modules a year. RMB 2.97 billion of the total RMB 3.1-billion investment will be used for construction.
China's Solar Boom
Under the new initiative passed by the Chinese congress, China has set a goal of 20GW in solar energy by 2020. Many companies have signed mega contracts with local governments, with sizes ranging from 100MW to 600MW. On Tuesday, China granted a solar farm contract to First Solar (FSLR), and the company has agreed to built a 2GW solar farm in Inner Mongolia by 2019. The latest winner is China's Solarfun (SOLF), which signed a 600MW contract to build a farm that is adjacent to First Solar's 2GW farm. China has set Inner Mongolia as the solar energy base for providing electricity to the entire nation. It is expected that Solarfun (SOLF) and some other Chinese solar names will get more contracts down the road. Companies such as Renesola (SOL), JA Solar (JASO), Yingli Green (YGE) and Suntech Power (STP) are gaining ground in the Chinese solar market. Goldman Sachs has put Renesola in the conviction buy list due to its improving business model and the potential. The following is the listed of companies who recently signed mega contracts:
* Solarfun (SOLF, $280M): 600MW, Inner Mongolia
* ReneSola (SOL, $310M): 650MW, Jiangsu
* Yingli (YGE, $1.5B): 600MW, Multiple locations
* Suntech (STP, $2.6B): 1.8GW, Multiple locations
* Canadian Solar (CSIQ, $600M): 500MW, Inner Mongolia
* LDK (LDK, $1.1B): 500MW, Jiangsu
* First Solar (FSLR, $12B): 2GW, Inner Mongolia
With many solar farms planned by the Chinese government, the blame of oversupply of polysilicon seems overdone, and we may see wafer prices pick up sooner than later when these solar projects kick off in the near future. The Chinese government seems to have decided to promote solar energy instead of wind energy.
* Solarfun (SOLF, $280M): 600MW, Inner Mongolia
* ReneSola (SOL, $310M): 650MW, Jiangsu
* Yingli (YGE, $1.5B): 600MW, Multiple locations
* Suntech (STP, $2.6B): 1.8GW, Multiple locations
* Canadian Solar (CSIQ, $600M): 500MW, Inner Mongolia
* LDK (LDK, $1.1B): 500MW, Jiangsu
* First Solar (FSLR, $12B): 2GW, Inner Mongolia
With many solar farms planned by the Chinese government, the blame of oversupply of polysilicon seems overdone, and we may see wafer prices pick up sooner than later when these solar projects kick off in the near future. The Chinese government seems to have decided to promote solar energy instead of wind energy.
New Solar Plant, Spurred by Subsidies
Since the China government talked about the first subsidy for building solar power plants earlier this year, a host of Chinese manufacturers have announced their signing of preliminary agreements with local governments, investors and power companies to build power plants.
Those projects tend to be in the hundreds of megawatts each. Chinese solar companies that have announced projects include Suntech Power (STP), Yingli Green Energy (YGE), LDK Solar (LDK) and ReneSola (SOL).
China currently has less than 100 megawatts of solar energy installations now, many of which are off the grid. The government is looking at setting a goal of installing 10 gigawatts by 2020.
Some analysts are skeptical about whether China's solar market will grow so quickly.
Aside from its plan to subsidize power plant construction, China also intends to subsidize solar electricity generation. The government is expected to announce a feed-in tariff soon that would set a long-term purchase price for solar power that is higher than the price for electricity from coal-fired power plants. Similar policies have made Germany and Spain the top solar energy markets in the world.
Those projects tend to be in the hundreds of megawatts each. Chinese solar companies that have announced projects include Suntech Power (STP), Yingli Green Energy (YGE), LDK Solar (LDK) and ReneSola (SOL).
China currently has less than 100 megawatts of solar energy installations now, many of which are off the grid. The government is looking at setting a goal of installing 10 gigawatts by 2020.
Some analysts are skeptical about whether China's solar market will grow so quickly.
Aside from its plan to subsidize power plant construction, China also intends to subsidize solar electricity generation. The government is expected to announce a feed-in tariff soon that would set a long-term purchase price for solar power that is higher than the price for electricity from coal-fired power plants. Similar policies have made Germany and Spain the top solar energy markets in the world.
Does China's One-Party System Make it Easier to Implement National Renewable Policies?
How successful is China in its clean energy push? How much of an advantage is their one-party system?
Julian Wong from the Center for American Progress has a good point on the topic. He says one-party rule admittedly makes it easier to implement national policies, but that is not always the case. The large land mass of China means that while there is lots of central planning, power is actually quite decentralized to the provinces. Provinces, in turn, devolve power to the cities and towns. So the effectiveness of local implementation of national laws has been mixed. Environmental policies have particularly been difficult to implement because they have historically conflicted with economic goals and performance evaluations of local officials were tied to GDP targets rather than environmental performance. This appears to be changing. Julian says energy conservation is now a pillar economic strategy and a key metric in promotion evaluations of local officials. This perhaps accounts for why China seems to be making steady progress in meeting its 2010 goal of reducing energy intensity by 20% from 2005 levels.
Julian Wong from the Center for American Progress has a good point on the topic. He says one-party rule admittedly makes it easier to implement national policies, but that is not always the case. The large land mass of China means that while there is lots of central planning, power is actually quite decentralized to the provinces. Provinces, in turn, devolve power to the cities and towns. So the effectiveness of local implementation of national laws has been mixed. Environmental policies have particularly been difficult to implement because they have historically conflicted with economic goals and performance evaluations of local officials were tied to GDP targets rather than environmental performance. This appears to be changing. Julian says energy conservation is now a pillar economic strategy and a key metric in promotion evaluations of local officials. This perhaps accounts for why China seems to be making steady progress in meeting its 2010 goal of reducing energy intensity by 20% from 2005 levels.
China is Taking Targeted Action to Mitigate Greenhouse Emissions
China's aggressive solar policy is part of their efforts to tackle climate change. China's transition to low carbon solutions is already generating jobs, profits and increased energy security. Some of the key strategies that are being used in China to drive low carbon growth:
1. Clear government and strong policy support. Beijing has rolled out a comprehensive series of medium- and low-term goals for low carbon development covering almost every carbon emitting industry. Coupled with other supporting policies, these targets have given companies the incentive and confidence to move into low carbon sectors - often exceeding targets.
2. Moving into low carbon sector with global demand. China's solar PV market has grown form almost nothing to be the world's leader with very little support from government policies or subsidies. Taking advantage of international capital opportunities such as public markets, cooperating with international technology providers, and expanding exports to generate economies of scale have all been winning strategies for Chinese low carbon companies.
3. Breaking down barriers to low carbon finance. After a slow start in carbon emissions reduction market, China has now become the largest supplier of CDM credits in the world.
4. Allowing low carbon companies to reap profits. A vibrant and innovative low carbon business community has grown up in China in response to consumer demand, government targets and policy, export opportunities and greater availability of finance.
1. Clear government and strong policy support. Beijing has rolled out a comprehensive series of medium- and low-term goals for low carbon development covering almost every carbon emitting industry. Coupled with other supporting policies, these targets have given companies the incentive and confidence to move into low carbon sectors - often exceeding targets.
2. Moving into low carbon sector with global demand. China's solar PV market has grown form almost nothing to be the world's leader with very little support from government policies or subsidies. Taking advantage of international capital opportunities such as public markets, cooperating with international technology providers, and expanding exports to generate economies of scale have all been winning strategies for Chinese low carbon companies.
3. Breaking down barriers to low carbon finance. After a slow start in carbon emissions reduction market, China has now become the largest supplier of CDM credits in the world.
4. Allowing low carbon companies to reap profits. A vibrant and innovative low carbon business community has grown up in China in response to consumer demand, government targets and policy, export opportunities and greater availability of finance.
Backlash to Thomas Friedman Suggesting China's political system is better equipped than US's for dealing with Climate Change
I have been reading blogs, articles this morning reacting to Thomas Friedman's NYT op-ed piece suggesting that China's political system is better equipped to deal with the climate change issues than the US's. This quote from climateprogress.org's Joe Romm, sums up the gist of the piece well - “China is going to eat our lunch and take our jobs on clean energy — an industry that we largely invented — and they are going to do it with a managed economy we don’t have and don’t want."
The reaction has been extreme, personal, and revealing. Here is an example from Small Dead Animals blog: "Is that man drunk? How can a Third-World dictatorship with extremely poor air quality, a large standing army, dreadful working conditions and no basic freedoms be enlightened?" People are calling him a commie, Chamberlain, arrogant elitist, etc.
There appears to be two themes to the attacks. One is he is appeasing an increasing threatening China who will soon be our enemy. He is accused of kissing Beijing's butt because he must be getting some special access to their leadership or some other incentive. The other theme is how can China lead on climate change issues when their pollution is so serious and government so corrupt and rotten. I'm surprised by their lack of imagination and intelligence. Friedman is simply saying their system is better at dealing with climate change issues than our system. He isn't talking about their repression of political opponents, corruption, or anything else. Why is it so difficult in the US to say another country can do something better than we can?
The reaction has been extreme, personal, and revealing. Here is an example from Small Dead Animals blog: "Is that man drunk? How can a Third-World dictatorship with extremely poor air quality, a large standing army, dreadful working conditions and no basic freedoms be enlightened?" People are calling him a commie, Chamberlain, arrogant elitist, etc.
There appears to be two themes to the attacks. One is he is appeasing an increasing threatening China who will soon be our enemy. He is accused of kissing Beijing's butt because he must be getting some special access to their leadership or some other incentive. The other theme is how can China lead on climate change issues when their pollution is so serious and government so corrupt and rotten. I'm surprised by their lack of imagination and intelligence. Friedman is simply saying their system is better at dealing with climate change issues than our system. He isn't talking about their repression of political opponents, corruption, or anything else. Why is it so difficult in the US to say another country can do something better than we can?
China Leading US in Pushing Solar
First Solar CEO Mike Ahearn says it would be nearly impossible to install a solar field of this size in the United States. There's plenty of land, but there's not enough near transmission lines, Ahearn said. And efforts to build new power lines are regularly stymied by competing interests from government agencies, environmental groups and disgruntled residents. Unfortunately it seems yet another American has turned to an advocate of 'socialism' -- it's funny how profits makes "capitalists" change their tune so quickly. "There's an advantage to planning this from the top," Ahearn said. "The speed and execution advantage is in China."
"China is further along in its thinking about solar than we've imaged"
The big news over the last couple of days has been First Solar's Inner Mongolia solar project. On Tuesday, the company said it has received initial approval from the Chinese government to build what may become the largest solar field in the world. First Solar, which makes more solar cells than any other company, said it struck a tentative 10-year deal to build in China's vast desert north of the Great Wall. The project would eventually blanket 25 square miles (64 sq. kilometers) of Inner Mongolia -- slightly larger than the size of Manhattan -- with a sea of black, light-absorbing glass.
First Solar CEO Mike Ahearn told The Associated Press before the announcement. "The Chinese government is further along in its thinking about solar than we've imagined." I have heard this sentiment over the last month or so. During a recent Carnegie Council panel on US-China cooperation in Climate Control, a China energy policy scholar who has recently been interviewing top Beijing officials said that China's internal clean energy goals are more aggressive than they are announcing.
Based on the recent solar activity, I believe that China is determined to be the world's clean energy leader.
First Solar CEO Mike Ahearn told The Associated Press before the announcement. "The Chinese government is further along in its thinking about solar than we've imagined." I have heard this sentiment over the last month or so. During a recent Carnegie Council panel on US-China cooperation in Climate Control, a China energy policy scholar who has recently been interviewing top Beijing officials said that China's internal clean energy goals are more aggressive than they are announcing.
Based on the recent solar activity, I believe that China is determined to be the world's clean energy leader.
Tuesday, September 8, 2009
China signs deal with U.S. firm for world’s biggest photovoltaic power plant
Remember how we told you recently that China, the world's largest emitter of greenhouse gases, was now pushing ahead on solar, wind and other alternative energy projects?
Chinese government officials signed an agreement on Tuesday with an American solar energy developer called First Solar for a 2,000-megawatt photovoltaic farm to be built in the Mongolian desert, the New York Times is reporting today.
They plan to build the world’s biggest photovoltaic power plant project to date, says the NYT, as part of an 11,950-megawatt renewable-energy park planned for Ordos City in Inner Mongolia. "The project would eventually blanket 25 square miles of Inner Mongolia — slightly larger than the size of Manhattan — with a sea of black, light-absorbing glass," the Associated Press reports.
The plant, when finished, "could provide enough power for 3 million typical Chinese homes -- the equivalent of two large modern coal-fired power plants," says the Los Angeles Times.
In a company press release, First Solar CEO Mike Ahearn said the project "is an encouraging step forward toward the mass-scale deployment of solar power worldwide to help mitigate climate change concerns." Prior to Tuesday's announcement, the largest single photovoltaic power plant in the world was another First Solar project, the 550-megawatt Topaz solar farm in California's Mojave Desert.
Chinese government officials signed an agreement on Tuesday with an American solar energy developer called First Solar for a 2,000-megawatt photovoltaic farm to be built in the Mongolian desert, the New York Times is reporting today.
They plan to build the world’s biggest photovoltaic power plant project to date, says the NYT, as part of an 11,950-megawatt renewable-energy park planned for Ordos City in Inner Mongolia. "The project would eventually blanket 25 square miles of Inner Mongolia — slightly larger than the size of Manhattan — with a sea of black, light-absorbing glass," the Associated Press reports.
The plant, when finished, "could provide enough power for 3 million typical Chinese homes -- the equivalent of two large modern coal-fired power plants," says the Los Angeles Times.
In a company press release, First Solar CEO Mike Ahearn said the project "is an encouraging step forward toward the mass-scale deployment of solar power worldwide to help mitigate climate change concerns." Prior to Tuesday's announcement, the largest single photovoltaic power plant in the world was another First Solar project, the 550-megawatt Topaz solar farm in California's Mojave Desert.
Canadian Solar to build 500MW solar plant in Inner Mongolia
7th September 2009
Canadian Solar has obtained the rights to design, install, operate and maintain a 500MW solar power plant in Baotou, Inner Mongolia.
The first phase is expected to get underway this month and run until December 2011, in which time up to 100MW of solar photovoltaic power will be installed. The second and third phases will each cover 200MW of power.
Fu Ren, the director of the Administration Committee of Baotou National Rare Earth Hi-Tech Industrial Development Zone, said, ‘I am very pleased to have Canadian Solar, a well-known provider of quality photovoltaic products, agree to develop a signature solar project in our city. To have a solar project of such magnitude in Baotou demonstrates our determination to develop the PV end-user market in China, as well as our commitment to cleaner and more sustainable economic development in Baotou. This project also reflects our city’s importance as a center of commerce and commitment to further growth.’
Dr Shawn Qu, CEO of Canadian Solar, added, ‘We are honored and proud that Canadian Solar has been chosen to design, install, operate and maintain this showcase 500MW Solar power plant in the City of Baotou. This project clearly shows the Chinese government’s determination to develop its domestic photovoltaic market. Our successful track record of providing high quality modules to many solar power projects around the world helped us to win the development rights for this major project.’
Canadian Solar is a vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications. Canadian Solar designs, manufactures and delivers solar products and solar systems for on-grid and off-grid use to customers worldwide.
Copyright © 2009 NewNet
Canadian Solar has obtained the rights to design, install, operate and maintain a 500MW solar power plant in Baotou, Inner Mongolia.
The first phase is expected to get underway this month and run until December 2011, in which time up to 100MW of solar photovoltaic power will be installed. The second and third phases will each cover 200MW of power.
Fu Ren, the director of the Administration Committee of Baotou National Rare Earth Hi-Tech Industrial Development Zone, said, ‘I am very pleased to have Canadian Solar, a well-known provider of quality photovoltaic products, agree to develop a signature solar project in our city. To have a solar project of such magnitude in Baotou demonstrates our determination to develop the PV end-user market in China, as well as our commitment to cleaner and more sustainable economic development in Baotou. This project also reflects our city’s importance as a center of commerce and commitment to further growth.’
Dr Shawn Qu, CEO of Canadian Solar, added, ‘We are honored and proud that Canadian Solar has been chosen to design, install, operate and maintain this showcase 500MW Solar power plant in the City of Baotou. This project clearly shows the Chinese government’s determination to develop its domestic photovoltaic market. Our successful track record of providing high quality modules to many solar power projects around the world helped us to win the development rights for this major project.’
Canadian Solar is a vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications. Canadian Solar designs, manufactures and delivers solar products and solar systems for on-grid and off-grid use to customers worldwide.
Copyright © 2009 NewNet
Thursday, September 3, 2009
Astronergy wins bid for a 2MW Chinese photovoltaic project
Chinese photovoltaic manufacturer, Astronergy has won its bid for a 2MW rooftop photovoltaic project located in Hangzhou Energy and Environment Industrial Park, China, through a selective bidding process.
This project is fully financed by the government’s environmental body, China Energy Conservation Investment Corporation, and is Zhejiang Province’s first large-scale on-grid photovoltaic plant.
The industrial park is situated in the northeast corner of Hangzhou city, covering an area of 23.8 square kilometres. Astronergy will design and install the entire project with a combination of crystalline silicon based modules and high efficiency tandem thin film photovoltaic modules and is scheduled to be completed by September 30 2009.
The Chinese government put forth its Golden Sun programme on July 22 2009 to financially support the growth and development of the domestic photovoltaic market and industry. Under this policy, the government plans to finance at least 500MW in various photovoltaic stations and projects in a two to three year timeline.
‘This programme will create many excellent opportunities such as this project to showcase Astronergy’s revolutionary new thin film technology, which will help us to differentiate ourselves and to establish our position in the industry.’ said Dr Liyou Yang, CEO of Astronergy.
Copyright © 2009 NewNet
This project is fully financed by the government’s environmental body, China Energy Conservation Investment Corporation, and is Zhejiang Province’s first large-scale on-grid photovoltaic plant.
The industrial park is situated in the northeast corner of Hangzhou city, covering an area of 23.8 square kilometres. Astronergy will design and install the entire project with a combination of crystalline silicon based modules and high efficiency tandem thin film photovoltaic modules and is scheduled to be completed by September 30 2009.
The Chinese government put forth its Golden Sun programme on July 22 2009 to financially support the growth and development of the domestic photovoltaic market and industry. Under this policy, the government plans to finance at least 500MW in various photovoltaic stations and projects in a two to three year timeline.
‘This programme will create many excellent opportunities such as this project to showcase Astronergy’s revolutionary new thin film technology, which will help us to differentiate ourselves and to establish our position in the industry.’ said Dr Liyou Yang, CEO of Astronergy.
Copyright © 2009 NewNet
Tuesday, September 1, 2009
China May Boost Solar Power Output Capacity 13-Fold by 2011
China may raise its solar power capacity to 2000 MW by 2011 and 20000 by 2020, according to Cui Rongqiang, head of the Shanghai Solar Energy Society, in an interview with Bloomberg on 30 Aug 09.
"The stimulus plan will largely boost the development of solar power projects and will provide state subsidies for those projects," Cui said "And there shouldn't be any big technical problems feeding solar power into grids."
The solar power targets may still change for the stimulus plan is announced, said Cui, whose organization includes Shanghai-based makers of solar modules.
"The stimulus plan will largely boost the development of solar power projects and will provide state subsidies for those projects," Cui said "And there shouldn't be any big technical problems feeding solar power into grids."
The solar power targets may still change for the stimulus plan is announced, said Cui, whose organization includes Shanghai-based makers of solar modules.
LDK in Agreement with Jiangsu's Suqian City to Develop Solar Project
According to energycurrent.com, 31 Aug 09, LDK Solar has entered into an agreement with Jiangsu's Suqian City to develop PV power projects. According to the agreement, LDK Solar will create PV projects in buildings, plants and integration systems, totalling up to 300 MW by 2015.
The terms, including financing, design and specific location of each project will require a feasibility study as well as the final approval from the relevant government departments.
The terms, including financing, design and specific location of each project will require a feasibility study as well as the final approval from the relevant government departments.
New Hubei Solar Plant
According to the Shanghai Daily on 30 Aug 09, China's Greenway Solar-Tech and US's Evergreen launched a solar power project in Wuhan. The 500 MGW project has an investment of US$450 million and is scheduled go into production in three years.
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