I saw Jim Rogers speak a couple of weeks ago at a JUCCCE-Wilson Center panel on US-China cooperation on clean energy. He mentioned that there was potential for Duke and ENN to work together.
The two companies had signed a preliminary agreement in September in New York. “China is investing heavily in clean energy and we can make greater progress in the U.S. by joining forces and working together,” Jim Rogers told Recharge Magazine. “Duke Energy and ENN seek to not only accelerate the development of solar power in the U.S., but help achieve economies of scale and drive down the cost of renewable energy.”
“ENN and Duke Energy have very complementary strengths,” said ENN Chairman Wang Yusuo.
Duke unit Duke Energy Generation Services (DEGS) will team-up with ENN to develop, own and operate the solar projects.
DEGS owns and operates more than 630 megawatts (MW) of wind power projects in the U.S. and plans to add another 350 MW by the end of 2010. In the biopower market, DEGS is developing wood-waste-to-electricity power plants in the U.S through ADAGE, the company it formed in 2008 with France’s Areva.
ENN Group subsidiary ENN Solar Energy produces silicon thin film solar modules and has also created a system of integrated solar power stations.
Friday, October 23, 2009
Thursday, October 22, 2009
Yingli Green Energy to Set Up RMB 15b Energy Base
Yingli Green Energy (NYSE:YGE) reached an agreement on October 20 with Hebei Construction & Investment Group and the government of Hebei's Laiyuan County to invest a combined sum of RMB 15 billion to establish a green energy base, including solar and wind power generation, reports In-en.com.
Under the agreement, the three parties plan to break ground on a Laiyuan project in November that will receive RMB 1.8 billion investment and exceed capacity of 60MW, said the report. (JML Pacific Epoch, October 22, 2009)
Under the agreement, the three parties plan to break ground on a Laiyuan project in November that will receive RMB 1.8 billion investment and exceed capacity of 60MW, said the report. (JML Pacific Epoch, October 22, 2009)
Wuhan Train Station to House 2.2MW Solar Project
Wuhan-based Rixin Solar and Hubei Electrical Design Institute plan to break ground on a joint 2.2MW on-grid solar power project, invested in by China Energy Conservation Investment Corporation, in the Wuhan, Hubei province train station at the end of October, reports Solarbe.com. The project is expected to generate 2 million kWh annually after it is completed in late December, said the report. (JML Pacific Epoch, October 22, 2009)
Suntech Aims New Solar Panel At Utility Industry
Chinese solar-panel maker Suntech Power Holdings Co. Ltd. (STP) unveiled a new solar panel Wednesday as part of a move to expand into the U.S. utility solar-power market.
Suntech, based in Wuxi, China, is the world's second-largest supplier of solar modules, behind First Solar Inc. (FSLR) of Arizona, according to market research firm iSuppli. But the company lags behind First Solar and solar-panel maker SunPower Corp. (SPWRA) when it comes to developing large-scale solar farms to generate power for U.S. utilities.
Suntech's new modules, called Reliathon, are 270-watt solar panels that come with inverters and other components that are designed to be used together in a large-scale array mounted to the ground, as opposed to being used in smaller rooftop systems, said Steven Chan, Suntech's chief strategy officer in San Francisco. The new system uses fewer bolts, screws and other parts to cut labor and material costs by a total of about 10%, he said.
Suntech has "forward sold" its Reliathon panels and related components in bids with U.S. utilities for at least 500 megawatts of solar power generation, Chan said, although he declined to provide details of pending deals.
Suntech is supplying the panels for a 50-megawatt solar farm in Western China that began partial operations last month, and the company is working on a 30- megawatt solar farm in Texas under contract with municipal utility Austin Energy.
Shares of Suntech closed Tuesday 1.8% lower, at $14.86.
(Dow Jones, October 22, 2009)
Suntech, based in Wuxi, China, is the world's second-largest supplier of solar modules, behind First Solar Inc. (FSLR) of Arizona, according to market research firm iSuppli. But the company lags behind First Solar and solar-panel maker SunPower Corp. (SPWRA) when it comes to developing large-scale solar farms to generate power for U.S. utilities.
Suntech's new modules, called Reliathon, are 270-watt solar panels that come with inverters and other components that are designed to be used together in a large-scale array mounted to the ground, as opposed to being used in smaller rooftop systems, said Steven Chan, Suntech's chief strategy officer in San Francisco. The new system uses fewer bolts, screws and other parts to cut labor and material costs by a total of about 10%, he said.
Suntech has "forward sold" its Reliathon panels and related components in bids with U.S. utilities for at least 500 megawatts of solar power generation, Chan said, although he declined to provide details of pending deals.
Suntech is supplying the panels for a 50-megawatt solar farm in Western China that began partial operations last month, and the company is working on a 30- megawatt solar farm in Texas under contract with municipal utility Austin Energy.
Shares of Suntech closed Tuesday 1.8% lower, at $14.86.
(Dow Jones, October 22, 2009)
Suntech Introduces Reliathon - Utility Solar Platform that Reduces Costs and Speeds Up Development of Utility Scale Projects Across the U.S.
SAN FRANCISCO- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of crystalline silicon photovoltaic (PV) modules, today announced Reliathon(TM), an industry-first integrated solar platform combining product and business-term innovations to lower costs and accelerate the path to grid parity with the development of utility-scale solar plants. Reliathon reduces total system costs as much as 10% and offers increases in revenue potential, with 13.8% more power warranted over the lifetime of the system.
Replacing the industry's current 'patchwork' approach to designing large- scale systems, Reliathon combines Suntech module innovations, a new utility- grade warranty for the Suntech module, as well as pre-agreed preferential pricing and business terms with industry-leading inverter and tracking companies Advanced Energy, Array Technologies, Satcon, Siemens Industry and SMA.
Developed with specific customer feedback gathered from dozens of utility industry experts, Suntech developed Reliathon to combine product and business term innovations including:
-- Product innovations:
- The new Suntech Reliathon 270-watt module includes self-aligning
panels, integrated grounding, and wire management, as well as a
new "Two-in-One" design, with two 36-cell regions featuring
independent circuits that can create better output on fixed tilt
systems in early morning and late afternoon. All module
innovations result in far less labor time needed to install
Reliathon systems as well as significant reductions in material
costs.
- Array Technologies' DuraTrack(TM) system was designed specifically
for Suntech Reliathon, and makes use of two motors per MW AC
versus the typical four motors per MW, further reducing the
material costs of the system.
- The new Suntech Reliathon ground mount system perfectly matches
Reliathon modules to deliver fixed tilt solutions at lower cost
and greater profitability.
-- Utility-grade Reliathon module warranty: The Reliathon module
includes a 25-year utility-grade warranty offering an
industry-leading 12-year limited product warranty (extended from 5
years) and a 25-year peak power performance warranty now based on
annual degradation instead of 12 and 25-year step-downs. The new
annual peak power performance warranty provides Reliathon module
buyers with 13.8% more warranted power over 25 years. Overall, the
new terms warrant an industry-leading 85% power output level at 25
years.
-- Preferential pricing from industry-leading partners: Power plant
customers purchasing a Reliathon system will have access to
customized Reliathon partner products at preferred pricing and
pre-negotiated business terms offered by Advanced Energy, Array
Technologies, Satcon, Siemens Industry and SMA, providing greater
value over whole system purchase.
"To make the promising utility scale pipeline a reality, innovation and simplicity have to be driven into every level of the solar value chain -- especially installation, an area that offers huge opportunities for reduction of Balance of Plant costs," said Steven Chan, Chief Strategy Officer, Suntech. "Reliathon gives our customers exactly what they have requested: greater power output at lower cost, combined with a simplified development process."
With Reliathon, Engineering, Procurement and Construction companies, utilities and project developers have a straightforward path for vendor selection as they design their large-scale systems. Customers can select a variety of Reliathon components from the selected Suntech partners, each offering particular advantages for specific installation types, as they plan their power plants.
"Suntech has listened to the utility market and come through with innovations that simply make sense," said Frank Greb, Vice President and General Manager of leading solar engineering and construction firm RMT, Inc. "Reliathon makes it more cost effective, not to mention easier, to get utility-scale projects up and running."
Reliathon modules and system components will be available in the United States for immediate orders with shipment scheduled in Q2 2010, and have already been included in over 1GW of US solar project bids. Non-U.S. inquiries are welcome. Reliathon will be on display at this year's Solar Power International conference, from October 27-29th at booth #2009 at the Main Hall of the Anaheim Convention Center in Anaheim, California. Interested customers can also visit: http://www.suntech-power.com for more information.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP | Quote | Chart | News | PowerRating) is the world's leading solar energy company as measured by production output of crystalline silicon solar modules. Suntech designs, develops, manufactures, and markets premium quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods. Suntech also offers one of the broadest ranges of building-integrated solar products.
Suntech designs and delivers commercial and utility scale solar power systems in China and the United States. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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, and includes the ability of Reliathon to reduce costs, speed up development of utility scale projects, and increase profitability for solar power plants; the estimated savings for Balance of Plant costs and increase in warranted power over time by utilizing Reliathon; the reduced labor time and reductions in material costs by utilizing Reliathon; the availability of preferred pricing and pre-negotiated business terms with the Reliathon system; and the estimated shipment schedule for Reliathon. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech 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, please contact:
Media Contacts:
In the United States:
Sarahjane Sacchetti
Story Labs for Suntech America
Tel: +1-415-268-8881
Email: ssacchetti@suntechamerica.com
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
SOURCE Suntech Power Holdings Co., Ltd.
(suntech-power.com, October 21, 2009)
Replacing the industry's current 'patchwork' approach to designing large- scale systems, Reliathon combines Suntech module innovations, a new utility- grade warranty for the Suntech module, as well as pre-agreed preferential pricing and business terms with industry-leading inverter and tracking companies Advanced Energy, Array Technologies, Satcon, Siemens Industry and SMA.
Developed with specific customer feedback gathered from dozens of utility industry experts, Suntech developed Reliathon to combine product and business term innovations including:
-- Product innovations:
- The new Suntech Reliathon 270-watt module includes self-aligning
panels, integrated grounding, and wire management, as well as a
new "Two-in-One" design, with two 36-cell regions featuring
independent circuits that can create better output on fixed tilt
systems in early morning and late afternoon. All module
innovations result in far less labor time needed to install
Reliathon systems as well as significant reductions in material
costs.
- Array Technologies' DuraTrack(TM) system was designed specifically
for Suntech Reliathon, and makes use of two motors per MW AC
versus the typical four motors per MW, further reducing the
material costs of the system.
- The new Suntech Reliathon ground mount system perfectly matches
Reliathon modules to deliver fixed tilt solutions at lower cost
and greater profitability.
-- Utility-grade Reliathon module warranty: The Reliathon module
includes a 25-year utility-grade warranty offering an
industry-leading 12-year limited product warranty (extended from 5
years) and a 25-year peak power performance warranty now based on
annual degradation instead of 12 and 25-year step-downs. The new
annual peak power performance warranty provides Reliathon module
buyers with 13.8% more warranted power over 25 years. Overall, the
new terms warrant an industry-leading 85% power output level at 25
years.
-- Preferential pricing from industry-leading partners: Power plant
customers purchasing a Reliathon system will have access to
customized Reliathon partner products at preferred pricing and
pre-negotiated business terms offered by Advanced Energy, Array
Technologies, Satcon, Siemens Industry and SMA, providing greater
value over whole system purchase.
"To make the promising utility scale pipeline a reality, innovation and simplicity have to be driven into every level of the solar value chain -- especially installation, an area that offers huge opportunities for reduction of Balance of Plant costs," said Steven Chan, Chief Strategy Officer, Suntech. "Reliathon gives our customers exactly what they have requested: greater power output at lower cost, combined with a simplified development process."
With Reliathon, Engineering, Procurement and Construction companies, utilities and project developers have a straightforward path for vendor selection as they design their large-scale systems. Customers can select a variety of Reliathon components from the selected Suntech partners, each offering particular advantages for specific installation types, as they plan their power plants.
"Suntech has listened to the utility market and come through with innovations that simply make sense," said Frank Greb, Vice President and General Manager of leading solar engineering and construction firm RMT, Inc. "Reliathon makes it more cost effective, not to mention easier, to get utility-scale projects up and running."
Reliathon modules and system components will be available in the United States for immediate orders with shipment scheduled in Q2 2010, and have already been included in over 1GW of US solar project bids. Non-U.S. inquiries are welcome. Reliathon will be on display at this year's Solar Power International conference, from October 27-29th at booth #2009 at the Main Hall of the Anaheim Convention Center in Anaheim, California. Interested customers can also visit: http://www.suntech-power.com for more information.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP | Quote | Chart | News | PowerRating) is the world's leading solar energy company as measured by production output of crystalline silicon solar modules. Suntech designs, develops, manufactures, and markets premium quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods. Suntech also offers one of the broadest ranges of building-integrated solar products.
Suntech designs and delivers commercial and utility scale solar power systems in China and the United States. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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, and includes the ability of Reliathon to reduce costs, speed up development of utility scale projects, and increase profitability for solar power plants; the estimated savings for Balance of Plant costs and increase in warranted power over time by utilizing Reliathon; the reduced labor time and reductions in material costs by utilizing Reliathon; the availability of preferred pricing and pre-negotiated business terms with the Reliathon system; and the estimated shipment schedule for Reliathon. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech 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, please contact:
Media Contacts:
In the United States:
Sarahjane Sacchetti
Story Labs for Suntech America
Tel: +1-415-268-8881
Email: ssacchetti@suntechamerica.com
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
SOURCE Suntech Power Holdings Co., Ltd.
(suntech-power.com, October 21, 2009)
Enfinity Chooses LDK Solar for Largest Rooftop Solar Energy Installation Project With the Balta Group in Benelux
XINYU CITY, China and SUNNYVALE, Calif- LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, today announced a supply contract with Enfinity for the largest rooftop solar energy installation project in Benelux (an economic union comprising Belgium, the Netherlands and Luxembourg).
LDK Solar will provide approximately 18,000 solar modules to be installed on the Balta Group's factory rooftop in Sint-Baafs-Vijve, Belgium. The project will be the largest solar installation project in Benelux, with a capacity of 4.2 MWp (megawatt peak) and total panel surface of over 30,000 square meters. The solar panels will deliver an average power output of 3.6 million kW (kilowatt) hours per year, which is equivalent to the power consumption of approximately 1,200 families.
The Balta Group, a manufacturer of broadloom carpets, rugs and laminate flooring, will be utilizing a portion of the solar energy to power its own business activities, with any surplus flowing back to the public grid. For a 20-year duration of the project, Balta Group will enjoy reduced and more stable power bills, in addition to avoiding producing approximately 34.6 million kilograms in carbon dioxide( )emissions.
Enfinity, an international player in renewable energy, negotiated a 20-year lease for Balta Group's rooftop space and has already begun installation of this project. Enfinity is utilizing revenue from the energy produced and the Green Energy Certificates from the Flemish Government to fund its participation in this project.
"Balta's decision to manufacture green energy supports a broader view of sustainability in which the improvement in its energy efficiency and the reduction of CO2( )emission play an important role. As a market leader, we take responsibility to reduce our ecological footprint and contribute to achieving European goals in the area of renewable energy," commented Jules Noten, CEO of the Balta Group. "We are excited to be working with Enfinity, who brings proven expertise and a track record of speedy execution to this project, as well as LDK Solar, who will provide best-in-class solar modules. Balta has more than 61 hectares of rooftop space in Belgium alone, so there is plenty of potential for additional projects in the future."
"We are very pleased to partner with Balta and Enfinity for this ambitious project," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "As we work diligently to expand our presence in Europe, we are very excited to provide the solar modules for the largest solar rooftop project in Benelux. This four megawatt module shipment also represents a significant milestone for LDK Solar - our first module volume shipment to Europe."
About Balta Group
The Balta Group is a world leader in interior decoration. The company designs market-oriented, creative collections, including rugs, broadloom carpets and laminate flooring. Balta is a group of complementary businesses that together offer a complete set of decor solutions.
The group includes: Balta Broadloom (Sint-Baafs-Vijve), I.T.C. (Tielt), Balta Rugs (Avelgem, Sint-Baafs-Vijve & Waregem), Balterio (Sint-Baafs-Vijve & Vielsalm), Balta US (Dalton, USA), Balta Floorcovering and Balta Orient (Usak, Turkije).
In 2008, the Balta Group realised consolidated revenue of euro 667 million with a workforce today of 3,350 people.
For more information: www.baltagroup.com. Balta Groep - Wakkensteenweg 2 - B-8710 Sint-Baafs-Vijve - Belgium.
About Enfinity
Enfinity, located in Waregem, is a fast-growing and ambitious business, internationally active in renewable energy. As a project specialist, Enfinity looks after the development and financing of in-house solar and wind energy power stations for electricity generation and is currently present in 19 countries in Europe, Asia and North America.
Besides its own project development, Enfinity sells integrated solar installations to companies and individuals. For individuals, this happens through an extensive dealer network which is geographically spread across Flanders and Wallonia.
In 2008 Enfinity had a turn-over of euro 83 million and today Enfinity provides work to more than 150 employees. At the beginning of 2009 Enfinity strengthened its international position with an investment of euro 50 million by Waterland investment company.
Belgian site: www.enfinity.be - International site: www.enfinity.biz
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, LDK Solar's ability to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of LDK Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of LDK Solar's operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its ongoing construction projects, including its polysilicon plants, and other risks and uncertainties disclosed in LDK Solar's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar's management as of the date hereof and on its current expectations, assumptions, estimates and projections about LDK Solar and the solar industry. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
SOURCE LDK Solar Co., Ltd.
(ldksolar.com, October 21, 2009)
LDK Solar will provide approximately 18,000 solar modules to be installed on the Balta Group's factory rooftop in Sint-Baafs-Vijve, Belgium. The project will be the largest solar installation project in Benelux, with a capacity of 4.2 MWp (megawatt peak) and total panel surface of over 30,000 square meters. The solar panels will deliver an average power output of 3.6 million kW (kilowatt) hours per year, which is equivalent to the power consumption of approximately 1,200 families.
The Balta Group, a manufacturer of broadloom carpets, rugs and laminate flooring, will be utilizing a portion of the solar energy to power its own business activities, with any surplus flowing back to the public grid. For a 20-year duration of the project, Balta Group will enjoy reduced and more stable power bills, in addition to avoiding producing approximately 34.6 million kilograms in carbon dioxide( )emissions.
Enfinity, an international player in renewable energy, negotiated a 20-year lease for Balta Group's rooftop space and has already begun installation of this project. Enfinity is utilizing revenue from the energy produced and the Green Energy Certificates from the Flemish Government to fund its participation in this project.
"Balta's decision to manufacture green energy supports a broader view of sustainability in which the improvement in its energy efficiency and the reduction of CO2( )emission play an important role. As a market leader, we take responsibility to reduce our ecological footprint and contribute to achieving European goals in the area of renewable energy," commented Jules Noten, CEO of the Balta Group. "We are excited to be working with Enfinity, who brings proven expertise and a track record of speedy execution to this project, as well as LDK Solar, who will provide best-in-class solar modules. Balta has more than 61 hectares of rooftop space in Belgium alone, so there is plenty of potential for additional projects in the future."
"We are very pleased to partner with Balta and Enfinity for this ambitious project," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "As we work diligently to expand our presence in Europe, we are very excited to provide the solar modules for the largest solar rooftop project in Benelux. This four megawatt module shipment also represents a significant milestone for LDK Solar - our first module volume shipment to Europe."
About Balta Group
The Balta Group is a world leader in interior decoration. The company designs market-oriented, creative collections, including rugs, broadloom carpets and laminate flooring. Balta is a group of complementary businesses that together offer a complete set of decor solutions.
The group includes: Balta Broadloom (Sint-Baafs-Vijve), I.T.C. (Tielt), Balta Rugs (Avelgem, Sint-Baafs-Vijve & Waregem), Balterio (Sint-Baafs-Vijve & Vielsalm), Balta US (Dalton, USA), Balta Floorcovering and Balta Orient (Usak, Turkije).
In 2008, the Balta Group realised consolidated revenue of euro 667 million with a workforce today of 3,350 people.
For more information: www.baltagroup.com. Balta Groep - Wakkensteenweg 2 - B-8710 Sint-Baafs-Vijve - Belgium.
About Enfinity
Enfinity, located in Waregem, is a fast-growing and ambitious business, internationally active in renewable energy. As a project specialist, Enfinity looks after the development and financing of in-house solar and wind energy power stations for electricity generation and is currently present in 19 countries in Europe, Asia and North America.
Besides its own project development, Enfinity sells integrated solar installations to companies and individuals. For individuals, this happens through an extensive dealer network which is geographically spread across Flanders and Wallonia.
In 2008 Enfinity had a turn-over of euro 83 million and today Enfinity provides work to more than 150 employees. At the beginning of 2009 Enfinity strengthened its international position with an investment of euro 50 million by Waterland investment company.
Belgian site: www.enfinity.be - International site: www.enfinity.biz
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, LDK Solar's ability to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of LDK Solar to operate as a public company, the period of time during which its current liquidity will enable LDK Solar to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of LDK Solar's operating results and financial condition, its ability to attract and retain qualified senior management personnel and research and development staff, its ability to timely and efficiently complete its ongoing construction projects, including its polysilicon plants, and other risks and uncertainties disclosed in LDK Solar's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar's management as of the date hereof and on its current expectations, assumptions, estimates and projections about LDK Solar and the solar industry. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
SOURCE LDK Solar Co., Ltd.
(ldksolar.com, October 21, 2009)
China to create big home market for solar PV products
BEIJING- China is to carry out studies on polic y to expand domestic demand for solar photovoltaic (PV) products and e ncourage domestic multi-crystalline silicon makers to focus on China's indigenous market, said Chen Qiufa, vice Minister of Industry and Inf ormation Technology.
Speaking at the 2009 Western China International Economy and Trade Fair in Chengdu, Chen said that the government would maintain strict c ontrol on the new launch of multi-crystalline silicon projects, as the y demand a great deal of electrical power.
China will not approve or accept applications for those multi-cryst alline projects without comprehensive supporting facilities and the ap proval of environmental protection authorities.
Moreover, China plans to phase out the multi-crystalline projects w ith overall power consumption surpassing 200 kilowatts for each kilogr am of multi-crystalline silicon before 2011.
The government will also encourage multi-crystalline producers to c ooperate or merge with solar photovoltaic cell makers in a bid to exte nd the industry chain.
Multi-crystalline makers will have government support to form links with power plant and chemical operations, and to develop energy-savin g solar-class multi-crystalline silicon with the aim of cutting produc tion costs.
The capacity of new multi-crystalline silicon plants shall be more than 3,000 tons each year with less than six hectares of land to produ ce 1,000 tons of multi-crystalline silicon, and electricity consumptio n of solar class multi-crystalline silicon must be below 60 kilowatt p er kilogram, according to Chen.
Wang Shaoxiong, a high-ranking official with the state-owned assets watchdog in Sichuan province, said that Sichuan would employ stringen t industry access threshold when introducing multi-crystalline silicon projects.
Analysts have said that the central government is likely to announc e actions to rein in unnecessary construction, and the ongoing industr y reshuffle will pick up pace, with weak players to be phased out quic kly.
China will produce 140,000 tons of multi-crystalline silicon each y ear if multi-crystalline silicon plants under construction or planned are put into full operation. By contrast, world demand on multi-crysta lline silicon is predicted to stand at around 80,000 tons in 2010.
China produced 2,300 MW of solar cells in 2008, with only 50 MW, or less than 3 percent, absorbed by the domestic market.
(Xinhua, October 22, 2009)
Speaking at the 2009 Western China International Economy and Trade Fair in Chengdu, Chen said that the government would maintain strict c ontrol on the new launch of multi-crystalline silicon projects, as the y demand a great deal of electrical power.
China will not approve or accept applications for those multi-cryst alline projects without comprehensive supporting facilities and the ap proval of environmental protection authorities.
Moreover, China plans to phase out the multi-crystalline projects w ith overall power consumption surpassing 200 kilowatts for each kilogr am of multi-crystalline silicon before 2011.
The government will also encourage multi-crystalline producers to c ooperate or merge with solar photovoltaic cell makers in a bid to exte nd the industry chain.
Multi-crystalline makers will have government support to form links with power plant and chemical operations, and to develop energy-savin g solar-class multi-crystalline silicon with the aim of cutting produc tion costs.
The capacity of new multi-crystalline silicon plants shall be more than 3,000 tons each year with less than six hectares of land to produ ce 1,000 tons of multi-crystalline silicon, and electricity consumptio n of solar class multi-crystalline silicon must be below 60 kilowatt p er kilogram, according to Chen.
Wang Shaoxiong, a high-ranking official with the state-owned assets watchdog in Sichuan province, said that Sichuan would employ stringen t industry access threshold when introducing multi-crystalline silicon projects.
Analysts have said that the central government is likely to announc e actions to rein in unnecessary construction, and the ongoing industr y reshuffle will pick up pace, with weak players to be phased out quic kly.
China will produce 140,000 tons of multi-crystalline silicon each y ear if multi-crystalline silicon plants under construction or planned are put into full operation. By contrast, world demand on multi-crysta lline silicon is predicted to stand at around 80,000 tons in 2010.
China produced 2,300 MW of solar cells in 2008, with only 50 MW, or less than 3 percent, absorbed by the domestic market.
(Xinhua, October 22, 2009)
Solarfun Power and Meridian Neue Energien sign 5MW solar supply deal
China solar module producer Solarfun Power has signed an agreement to deliver 5MW of solar PV modules to German energy project developer Meridian Neue Energien.
Meridien’s managing director Henry Bolz said that the company demands high quality production standards from its suppliers, and that Solarfun have met those targets. Bolz said, ‘As owner and operator of large PV projects, we insist on comprehensive tests and quality controls. We have found that these can only be passed by manufacturers with a long history in the market, and we certainly believe that Solarfun meets the level of excellence that we expect.’
The modules are to be applied to six roof top projects, which are expected to be completed and grid connected in December 2009.
Solarfun president Peter Xie said, ‘We are pleased to sign this agreement with such a reputable and well established company. Meridian Neue Energien has stringent standards for the PV modules that they use and we are happy that they selected us for this project.’
Solarfun is a manufacturer of ingots, PV cells and PV modules, as well as processing services to convert PV cells into PV modules. The company recently signed a letter of intent with the government of Hohhot City, China, to develop two solar projects totalling 600MW of capacity, and has also announced plans to also to construct a 100MW photovoltaic module production facility in the Inner Mongolian region of China.
Copyright © 2009 NewNet
Meridien’s managing director Henry Bolz said that the company demands high quality production standards from its suppliers, and that Solarfun have met those targets. Bolz said, ‘As owner and operator of large PV projects, we insist on comprehensive tests and quality controls. We have found that these can only be passed by manufacturers with a long history in the market, and we certainly believe that Solarfun meets the level of excellence that we expect.’
The modules are to be applied to six roof top projects, which are expected to be completed and grid connected in December 2009.
Solarfun president Peter Xie said, ‘We are pleased to sign this agreement with such a reputable and well established company. Meridian Neue Energien has stringent standards for the PV modules that they use and we are happy that they selected us for this project.’
Solarfun is a manufacturer of ingots, PV cells and PV modules, as well as processing services to convert PV cells into PV modules. The company recently signed a letter of intent with the government of Hohhot City, China, to develop two solar projects totalling 600MW of capacity, and has also announced plans to also to construct a 100MW photovoltaic module production facility in the Inner Mongolian region of China.
Copyright © 2009 NewNet
Wednesday, October 21, 2009
CECIC to Build 100MW Inner Mongolia PV Station
China Energy Conservation Investment Corporation (CECIC) has signed a letter of intent to establish a 100MW PV station with a total investment of RMB 2.2 billion in the Alxa League, Inner Mongolia's westernmost prefecture, Solarbe.com reported October 19. The company expects to invest around RMB 220 million in the 10MW initial phase, and hopes to complete 30MW of output capacity by 2011, the report said.
(JLM Pacific Eoch, October 21, 2009)
(JLM Pacific Eoch, October 21, 2009)
ENN Solar to Invest RMB 200m in Qinghai, Gansu Solar Stations
Hebei-based module manufacturer ENN Solar Energy plans to invest RMB 200 million to establish photovoltaic power stations in Qinghai and Gansu provinces with installed capacity of 2-5MW, reports 163.com.
ENN Solar plans to list in 2011 at the latest and has not yet chosen a location for the offering, said company General Manager Zhou Min. Previous reports said ENN Solar planned to kick off a Hong Kong IPO as early as mid-2010.
(JLM Pacific Eoch, October 21, 2009)
ENN Solar plans to list in 2011 at the latest and has not yet chosen a location for the offering, said company General Manager Zhou Min. Previous reports said ENN Solar planned to kick off a Hong Kong IPO as early as mid-2010.
(JLM Pacific Eoch, October 21, 2009)
Hebei Yingxin Glass Group Sets to Work on 320MW Thin-Film Plant
Hebei Yingxin Glass Group has broken ground on the initial 10MW phase of a thin-film solar cell project with a planned total output capacity of 320MW per annum, spvchina.com reported October 20. The total cost of the project will be RMB 2.95 billion and construction is scheduled to be completed in 2015, the report said.
Hebei Yingxin Glass Group was established in 1993, claims total assets of RMB 1.5 billion and over 1,800 employees.
(JLM Pacific Eoch, October 21, 2009)
Hebei Yingxin Glass Group was established in 1993, claims total assets of RMB 1.5 billion and over 1,800 employees.
(JLM Pacific Eoch, October 21, 2009)
Guodian Breaks Ground on RMB 9bln PV Base in Yixing, Jiangsu
China Guodian Corporation began construction on an RMB 9 billion new energy industry base in Yixing, Jiangsu province on October 18, Xinhuanet.com reported October 19. Of the RMB 9 billion total investment, RMB 8 billion will be devoted to photovoltaic projects, focusing on system integration and new energy plants, said the report. China Guodian Corporation signed a contract for the new energy industry base on September 17.
(JML Pacific Epoch, October 21, 2009)
(JML Pacific Epoch, October 21, 2009)
Taiwan Government Firm on Use of Renewable Sources of Energy
TAIPEI -- The head of the Executive Yuan, Wu Den-yih, said yesterday, the administration is continuing to push the development of renewable energy in a bid to cut consumption of fossil fuels and reduce Taiwan's carbon dioxide emissions.
During a hearing at the Legislative Yuan, Wu said the government has promoted renewable energy development based on three principles - offering incentives, allowing renewable energy producers to make profits and ensuring social equality.
Wu was responding to a question from ruling Kuomintang legislator Lee Ching-hua on whether the administration's plans to impose "green" taxes, including energy and carbon taxes, were conceived to raise tax revenues or to conserve energy and reduce green house gas emissions.
The legislator contended that the KMT administration should provide renewable energy options for people to choose from rather than increasing or levying new taxes to reduce energy consumption.
Meanwhile, Wu reiterated that the government will not begin levying an energy tax without sound planning and said there is no timetable for the measure at present.
Wu said that although the proposed energy tax is commendable and has been implemented in several industrially-advanced countries, the time is not ripe yet to adopt it in Taiwan, especially "when the domestic economy has just begun to bottom out from a year-long downturn and the people's lives are still difficult."
Wu assured the public on Monday that a proposed energy tax will not be levied soon.
He said the energy tax, which would be assessed on the consumption of gasoline, diesel, kerosene, aviation fuel, fuel oil, and natural gas, is still on the drawing board, and that if it is imposed, complementary measures will be adopted to ease its sting.
"The fuel consumption fee and other taxes would be dropped," the premier said.
Amendments to existing laws would also have to be screened and approved by the legislature before the tax could be implemented, he added.
(China Daily, October 21, 2009)
During a hearing at the Legislative Yuan, Wu said the government has promoted renewable energy development based on three principles - offering incentives, allowing renewable energy producers to make profits and ensuring social equality.
Wu was responding to a question from ruling Kuomintang legislator Lee Ching-hua on whether the administration's plans to impose "green" taxes, including energy and carbon taxes, were conceived to raise tax revenues or to conserve energy and reduce green house gas emissions.
The legislator contended that the KMT administration should provide renewable energy options for people to choose from rather than increasing or levying new taxes to reduce energy consumption.
Meanwhile, Wu reiterated that the government will not begin levying an energy tax without sound planning and said there is no timetable for the measure at present.
Wu said that although the proposed energy tax is commendable and has been implemented in several industrially-advanced countries, the time is not ripe yet to adopt it in Taiwan, especially "when the domestic economy has just begun to bottom out from a year-long downturn and the people's lives are still difficult."
Wu assured the public on Monday that a proposed energy tax will not be levied soon.
He said the energy tax, which would be assessed on the consumption of gasoline, diesel, kerosene, aviation fuel, fuel oil, and natural gas, is still on the drawing board, and that if it is imposed, complementary measures will be adopted to ease its sting.
"The fuel consumption fee and other taxes would be dropped," the premier said.
Amendments to existing laws would also have to be screened and approved by the legislature before the tax could be implemented, he added.
(China Daily, October 21, 2009)
Tuesday, October 20, 2009
Solarfun and Meridian Neue Energien GmbH Sign PV Modules Supply Agreement ; -- Contract Signed for 5MW of Residential Projects in Germany--
SHANGHAI, Oct. 20 /PRNewswire-FirstCall/ -- Solarfun Power Holdings Co., Ltd. ("Solarfun" or "the Company") (Nasdaq: SOLF), a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today announced that is has signed a contract to deliver five megawatts ("MW") of PV modules to Meridian Neue Energien GmbH, a leading new energy project developer in Germany. The PV modules will be applied to six roof top projects, which are expected to be completed and grid connected in December 2009.
Henry Bolz, Managing Director of Meridian Neue Energien, commented, "European, and in particular German, companies active in the PV market insist on extremely high quality production standards from their suppliers. Solarfun has demonstrated that it is more than capable of living up to these expectations. They have built a strong track record over the years and we are certain that their 25- year PV module limited warranty will support our anticipated power output and forecasted investment returns. As owner and operator of large PV projects, we insist on comprehensive tests and quality controls. We have found that these can only be passed by manufacturers with a long history in the market, and we certainly believe that Solarfun meets the level of excellence that we expect."
Peter Xie, President of Solarfun, added, "We are pleased to sign this agreement with such a reputable and well established company. Meridian Neue Energien has stringent standards for the PV modules that they use and we are happy that they selected us for this project."
This Report on Form 6-K is hereby incorporated by reference into Solarfun's registration statement on Form F-3 (Registration No. 333- 152005) filed on July 14, 2008.
About Solarfun
Solarfun Power Holdings Co., Ltd. manufactures ingots, PV cells and PV modules, and provides PV module processing services to convert PV cells into PV modules. Solarfun produces both monocrystalline and multicrystalline silicon cells and modules. Solarfun sells its products both through third-party distributors, OEM manufacturers and directly to system integrators. Solarfun was founded in 2004 and its products have been certified to meet TUV and UL safety and quality standards.
Henry Bolz, Managing Director of Meridian Neue Energien, commented, "European, and in particular German, companies active in the PV market insist on extremely high quality production standards from their suppliers. Solarfun has demonstrated that it is more than capable of living up to these expectations. They have built a strong track record over the years and we are certain that their 25- year PV module limited warranty will support our anticipated power output and forecasted investment returns. As owner and operator of large PV projects, we insist on comprehensive tests and quality controls. We have found that these can only be passed by manufacturers with a long history in the market, and we certainly believe that Solarfun meets the level of excellence that we expect."
Peter Xie, President of Solarfun, added, "We are pleased to sign this agreement with such a reputable and well established company. Meridian Neue Energien has stringent standards for the PV modules that they use and we are happy that they selected us for this project."
This Report on Form 6-K is hereby incorporated by reference into Solarfun's registration statement on Form F-3 (Registration No. 333- 152005) filed on July 14, 2008.
About Solarfun
Solarfun Power Holdings Co., Ltd. manufactures ingots, PV cells and PV modules, and provides PV module processing services to convert PV cells into PV modules. Solarfun produces both monocrystalline and multicrystalline silicon cells and modules. Solarfun sells its products both through third-party distributors, OEM manufacturers and directly to system integrators. Solarfun was founded in 2004 and its products have been certified to meet TUV and UL safety and quality standards.
Origo Sino-India to merge with UK cleantech PE firm
Beijing-based private equity and consulting firm Origo Sino-India (OSI) is planning to merge with UK-based Origo Resource Partners (ORP), VCCircle reported late yesterday.
The combined company is expected to primarily focus on investments in China.
The combined company is expected to primarily focus on investments in China.
Hon Hai to Invest $1 Billion in China’s Chengdu for Green Tech
Hon Hai Precision Industry Co., the world’s largest contract electronics manufacturer, will invest $1 billion into China’s Chengdu City to develop and manufacture so-called green products, spokesman Edmund Ding said.
“The investment is part of our environmental-protection technology concept,” Ding said today in a telephone interview. Hon Hai will manufacture light-emitting diode backlights and liquid-crystal display modules at the site, Ding said without giving a timeline for the investment.
Hon Hai, based in Taipei, is the world’s largest contract electronics manufacturer whose clients include Apple Inc. and Hewlett-Packard Co.
(Bloomberg, October 17, 2009)
“The investment is part of our environmental-protection technology concept,” Ding said today in a telephone interview. Hon Hai will manufacture light-emitting diode backlights and liquid-crystal display modules at the site, Ding said without giving a timeline for the investment.
Hon Hai, based in Taipei, is the world’s largest contract electronics manufacturer whose clients include Apple Inc. and Hewlett-Packard Co.
(Bloomberg, October 17, 2009)
China Guodian pours 9 bln yuan in New Energy Program
China Guodian Corporation recently launched its new energy base program in Yixing, Jiangsu Province with overall investment of nine billion yuan in a bid to build solar power (OTCBB:SOPW) stations and wind power turbines
End-use products include integrated systems and power stations by new energy.
China Guodian will invest eight billion yuan in solar photovoltaic project highlighting development of high-efficient HIT solar cells and thin film silicon.
China Guodian also founded Guodian Jintech Solar Energy (Yixing) Co ., Ltd. through reorganizing Yixing Jintech Solar Energy Co., Ltd.
Guodian Union Power Technology Co., Ltd., a subsidiary of China Guodian will invest 360 million yuan to build a wind turbine production line, which is designed to produce 1,000 sets of 1.5-MW wind power turbines annually in the first phase, and 1,500 sets of 2.6-MW wind power turbines in the second phase.
As one of China's five power generation groups, China Guodian has 7 6,950 MW of controllable installed power capacity by September 2009 an d produces more than 22 million tons of coal each year.
(Xinhua News Agency, October 20, 2009)
End-use products include integrated systems and power stations by new energy.
China Guodian will invest eight billion yuan in solar photovoltaic project highlighting development of high-efficient HIT solar cells and thin film silicon.
China Guodian also founded Guodian Jintech Solar Energy (Yixing) Co ., Ltd. through reorganizing Yixing Jintech Solar Energy Co., Ltd.
Guodian Union Power Technology Co., Ltd., a subsidiary of China Guodian will invest 360 million yuan to build a wind turbine production line, which is designed to produce 1,000 sets of 1.5-MW wind power turbines annually in the first phase, and 1,500 sets of 2.6-MW wind power turbines in the second phase.
As one of China's five power generation groups, China Guodian has 7 6,950 MW of controllable installed power capacity by September 2009 an d produces more than 22 million tons of coal each year.
(Xinhua News Agency, October 20, 2009)
NDRC's ERI Tasked to Deal with Renewable Over Capacity
China's Energy Research Institute (ERI), which is affiliated with the NDRC, is being ordered to develop renewable energy in an effort to tackle over capacity, said Ren Dongming, an official with ERI.
Ren said the guidance is supported by the State Council and will be a milestone on the regulation of renewable energy.
Ren stressed that China only faces potential overcapacity in multi- crystalline production and structural overcapacity in the manufacturing of wind power turbine.
The official also urged the government to carry out industry planning and infrastructure building and release early warning information f or renewable energy industry.
China's stimulus package on new energy is awaiting approval of relevant departments and will be announced by the State Council, added Ren .
The stimulus plan will greatly hike development goals from the ones put forward in National Development Planning for Renewable Energy in 2006-2010 and Middle and Long-term Development Plan for Renewable Energy.
The revision of China Law of Renewable Energy is in need of more discussions before release, according to Ren.
(taken from Xinhua News Agency, October 20, 2009)
Ren said the guidance is supported by the State Council and will be a milestone on the regulation of renewable energy.
Ren stressed that China only faces potential overcapacity in multi- crystalline production and structural overcapacity in the manufacturing of wind power turbine.
The official also urged the government to carry out industry planning and infrastructure building and release early warning information f or renewable energy industry.
China's stimulus package on new energy is awaiting approval of relevant departments and will be announced by the State Council, added Ren .
The stimulus plan will greatly hike development goals from the ones put forward in National Development Planning for Renewable Energy in 2006-2010 and Middle and Long-term Development Plan for Renewable Energy.
The revision of China Law of Renewable Energy is in need of more discussions before release, according to Ren.
(taken from Xinhua News Agency, October 20, 2009)
Forum on Strategic China-U.S. Clean Energy Cooperation
Just found this announcement on 19 Oct People's Daily. As is usually the case in People's Daily, it's short on details. I have been to several conferences on US-China cooperation on clean energy and climate control. Most everyone agree that the two sides need to increase technological cooperation.
The first China-U.S. clean energy practical cooperation strategy forum will be held in Beijing between October 22 and 23.
It aims to explicitly outline the respective national strategy of China and the U.S. in the clean energy field through deep discussion between the two sides, seeking to find common ground between the two countries' clean energy strategies and interests and take this opportunity to promote the practical cooperation between Chinese and U.S. enterprises, research institutions and cities (as well as regions).
The forum was jointly initiated and established by the China Institute of Strategy and Management (CISM) and the US Brookings Institution.
(People's Daily, October 19, 2009)
The first China-U.S. clean energy practical cooperation strategy forum will be held in Beijing between October 22 and 23.
It aims to explicitly outline the respective national strategy of China and the U.S. in the clean energy field through deep discussion between the two sides, seeking to find common ground between the two countries' clean energy strategies and interests and take this opportunity to promote the practical cooperation between Chinese and U.S. enterprises, research institutions and cities (as well as regions).
The forum was jointly initiated and established by the China Institute of Strategy and Management (CISM) and the US Brookings Institution.
(People's Daily, October 19, 2009)
Aimee Barnes interview with Elizabeth Balkan and me
Make sure to go to Aimee Barnes's blog and see her interview with Elizabeth Balkan and me. Aimee has an excellent blog, well worth reading daily.
Elizabeth is another China energy analyst here in New York and it was an interesting discussion:
www.aimeebarnes.com/blog
I think the key analytical question is figuring out the obstacles to the implementation of China's renewable energy policy. There is little debate that China's clean energy policy is forward-looking and aggressive. The big question is whether the policy will lead to real action. I hear many stories about impressive wind farms in China which don't have the blades attached to the turbines. Not only that, since China is such a decentralized country, success will be spotty. In areas where corruption is more of a problem, stimulus funds will be more likely siphoned off and solar and wind plants will suffer. Aimee Barnes's analytical focus is China's corruption. I am planning on working with her to explore how this issue gets in way of the implementation of China's renewable energy policy.
Elizabeth is another China energy analyst here in New York and it was an interesting discussion:
www.aimeebarnes.com/blog
I think the key analytical question is figuring out the obstacles to the implementation of China's renewable energy policy. There is little debate that China's clean energy policy is forward-looking and aggressive. The big question is whether the policy will lead to real action. I hear many stories about impressive wind farms in China which don't have the blades attached to the turbines. Not only that, since China is such a decentralized country, success will be spotty. In areas where corruption is more of a problem, stimulus funds will be more likely siphoned off and solar and wind plants will suffer. Aimee Barnes's analytical focus is China's corruption. I am planning on working with her to explore how this issue gets in way of the implementation of China's renewable energy policy.
Wednesday, October 14, 2009
Hong Kong toy company RBI Holdings acquires solar company Apollo Precision for $539m
13th October 2009
Hong Kong toy and property investment group RBI Holdings has acquired Chinese solar company Apollo Precision Limited for HK$4.18bn ($539.3m). Apollo, which is to be renamed Apollo Solar Energy Technology, manufacturers specialised equipment for the production of thin-film solar PV modules, which it sells to manufacturers in China. RBI purchased the shares at HK$1.316, 1.23 per cent over the 3 September closing price.
Under the terms of the agreement, RBI is to dispose of 49 per cent of its toy business for HK$71m ($9.16m). The company will continue to trade in the toy business through its remaining 51 per cent holding, as well as its property investment arm and its newly acquired solar arm.
According to US semiconductor market researcher IC Insights, China accounted for 39 per cent of total global photovoltaic production in 2008, driven by the introduction of feed-in tariffs by the Chinese government, which has committed to providing 10 per cent of energy from renewable sources by 2010, and 15 per cent by 2020
RBI CEO Haeco Chau said, ‘The proposed acquisition together with the disposal agreements are in line with the Group’s strategy of exploring and investing in potential businesses and new investment opportunities. The Group is well positioned to tap into the renewable energy and related businesses.’
‘Apollo Precision strives to become the leading world-class company in providing equipment and turnkey solutions for the manufacturing of amorphous silicon thin film solar modules. These agreements allow the Group to enhance its earning capacity and diversify market risk,’ he added.
Copyright © 2009 NewNet
Hong Kong toy and property investment group RBI Holdings has acquired Chinese solar company Apollo Precision Limited for HK$4.18bn ($539.3m). Apollo, which is to be renamed Apollo Solar Energy Technology, manufacturers specialised equipment for the production of thin-film solar PV modules, which it sells to manufacturers in China. RBI purchased the shares at HK$1.316, 1.23 per cent over the 3 September closing price.
Under the terms of the agreement, RBI is to dispose of 49 per cent of its toy business for HK$71m ($9.16m). The company will continue to trade in the toy business through its remaining 51 per cent holding, as well as its property investment arm and its newly acquired solar arm.
According to US semiconductor market researcher IC Insights, China accounted for 39 per cent of total global photovoltaic production in 2008, driven by the introduction of feed-in tariffs by the Chinese government, which has committed to providing 10 per cent of energy from renewable sources by 2010, and 15 per cent by 2020
RBI CEO Haeco Chau said, ‘The proposed acquisition together with the disposal agreements are in line with the Group’s strategy of exploring and investing in potential businesses and new investment opportunities. The Group is well positioned to tap into the renewable energy and related businesses.’
‘Apollo Precision strives to become the leading world-class company in providing equipment and turnkey solutions for the manufacturing of amorphous silicon thin film solar modules. These agreements allow the Group to enhance its earning capacity and diversify market risk,’ he added.
Copyright © 2009 NewNet
ET Solar Group Announces Partners with US Solar Distributing for Module Distribution
NANJING, China- ET Solar Group Corp. ("ET Solar"), a Nanjing-based vertically integrated manufacturer of photovoltaic ("PV") products (ingot, wafer, modules and tracking systems) and system integrator, has named US Solar Distributing Inc (USSD) as its premier module distributor in USA.
USSD is a full-service, wholesale only, one-stop resource for solar professionals. With multiple distribution centers in the United States, USSD supplies complete solar systems to solar installers in every state.
Commenting on the announcement, Linhui Sui, Vice President of ET Solar, said, "We are very pleased to have US Solar Distributing as our distributor in the USA. Their extensive distribution experience, commitment to solar energy, and full value-added services are a perfect match for us. We look forward to achieving strong business growth with US Solar Distributing."
Andrew Barton, CEO of US Solar Distributing, said, "Our partnership with ET Solar is consistent with our core operating principles of adding value up and down the supply chain with a pure focus on professional installers. With nearly 30 years of distribution experience, and a highly qualified team of engineers, technical specialists, trainers, and customers service experts, we are well positioned to help installing contractors grow their business."
Barton added, "Our customers recognize that our business is here to support their business. We build long term relation-ships based on trust and service excellence. Outstanding manufacturing partners like ET Solar are an essential part of that equation."
About US Solar Distributing:
US Solar Distributing is a wholesale distributor of solar photovoltaic modules, inverters, mounting systems and accessories. With an experienced team of engineers, system designers, and customer support personnel, US Solar Distributing serves solar professionals from multiple locations in North America.
For more complete information, log onto
http://www.ussolardistributing.com .
About ET Solar Group:
ET Solar Group is a vertically integrated solar energy equipment manufacturer and turnkey solutions provider. With local sales and marketing subsidiaries and offices throughout Asia, Europe, and North America, ET Solar provides high quality photovoltaic modules, world leading solar tracking systems and smart turnkey solutions to our customers in more than 50 countries and areas.
For more information, please visit our corporate site at http://www.etsolar.com .
For more information, please contact:
Amanda Xu
Media Assistant
Marketing Dept
ET Solar Group
Tel: +86-25-8689-8096 x9023
Fax: +86-25-8689-8097
Email: amanda.xu@etsolar.com
SOURCE ET Solar Group Corp.
http://www.ussolardistributing.com
(PRNewswire-Asia, October 12, 2009)
USSD is a full-service, wholesale only, one-stop resource for solar professionals. With multiple distribution centers in the United States, USSD supplies complete solar systems to solar installers in every state.
Commenting on the announcement, Linhui Sui, Vice President of ET Solar, said, "We are very pleased to have US Solar Distributing as our distributor in the USA. Their extensive distribution experience, commitment to solar energy, and full value-added services are a perfect match for us. We look forward to achieving strong business growth with US Solar Distributing."
Andrew Barton, CEO of US Solar Distributing, said, "Our partnership with ET Solar is consistent with our core operating principles of adding value up and down the supply chain with a pure focus on professional installers. With nearly 30 years of distribution experience, and a highly qualified team of engineers, technical specialists, trainers, and customers service experts, we are well positioned to help installing contractors grow their business."
Barton added, "Our customers recognize that our business is here to support their business. We build long term relation-ships based on trust and service excellence. Outstanding manufacturing partners like ET Solar are an essential part of that equation."
About US Solar Distributing:
US Solar Distributing is a wholesale distributor of solar photovoltaic modules, inverters, mounting systems and accessories. With an experienced team of engineers, system designers, and customer support personnel, US Solar Distributing serves solar professionals from multiple locations in North America.
For more complete information, log onto
http://www.ussolardistributing.com .
About ET Solar Group:
ET Solar Group is a vertically integrated solar energy equipment manufacturer and turnkey solutions provider. With local sales and marketing subsidiaries and offices throughout Asia, Europe, and North America, ET Solar provides high quality photovoltaic modules, world leading solar tracking systems and smart turnkey solutions to our customers in more than 50 countries and areas.
For more information, please visit our corporate site at http://www.etsolar.com .
For more information, please contact:
Amanda Xu
Media Assistant
Marketing Dept
ET Solar Group
Tel: +86-25-8689-8096 x9023
Fax: +86-25-8689-8097
Email: amanda.xu@etsolar.com
SOURCE ET Solar Group Corp.
http://www.ussolardistributing.com
(PRNewswire-Asia, October 12, 2009)
Subscribe to:
Posts (Atom)
There was an error in this gadget
Facebook Share
There was an error in this gadget
