Yingli has entered into an agreement to supply PV modules for Etrion Corporation's 10 MW Helios ITA-3 solar power project under construction in Italy's Puglia region. The power project includes two 5MW ground-mounted solar PV plants - Brindisi and Mesagne.
Power and automation technology group ABB has been engaged by Etrion to complete the solar parks using Yingli poly-crystalline PV modules installed on SunPower trackers with power conversion completed through Bonfiglioli inverters. Construction of the solar project is expected to be completed by the end of August 2011.
Monday, June 20, 2011
New Chinese PV Consortium aimed at European Market
Three public Chinese companies are forming a new PV-focused investment consortium with access to a $10 billion credit facility. China Technology Development Group (CTDC), TBEA SunOasis and Goldpoly New Energy Holdings revealed their move at the InterSolar Europe event held in Munich, 11-15 June.
The consortium is backed by China Development Bank and the China Merchants Bank and will participate at all levels of the European supply chain, from raw materials to PV modules. It will also start a project company that will invest in and construct its own plants. It will also focus on domestic installations in France, the creation of a renewable energy investment fund, and further PV installations in China.
The consortium is backed by China Development Bank and the China Merchants Bank and will participate at all levels of the European supply chain, from raw materials to PV modules. It will also start a project company that will invest in and construct its own plants. It will also focus on domestic installations in France, the creation of a renewable energy investment fund, and further PV installations in China.
Suntech will Raise Solar Panel Capacity
Reuters is reporting that on 20 June, Dr. Shi Zhengrong told them Suntech will raise its solar panel capacity to 2.4 GW by end-2011. At the sidelines of a Seoul summit, Dr. Shi said, "We intend to produce wafers ourselves to 50 percent of (our) cell capacity." Suntech has focused on increasing production of the silicon wafers used in its modules in order to cut its reliance on suppliers. Dr. Shi added that it would raise funds to boost capacity through joint ventures, bank loans and its own capital.
Saturday, June 18, 2011
Suntech Launching US Financing Programs
I have been coming up with lessons learned from Evergreen Solar packing up the Devens, MA string ribbon panel manufacturing plant and moving it to Wuhan. I have been comparing Evergreen's failure to Suntech's Arizona manufacturing plant and booming North America business.
How the two companies financed these projects is a key difference and I will write more on this soon. I mention this now because Wednesday this week, Reuters reported Suntech plans to launch four or five financing programs for the US market in the next six to nine months. The initiatives will utility-level and residential solar projects, Suntech America President Steven Chan said at the Reuters Global Energy and Climate Summit in San Francisco.
"We about have four or five parallel initiatives that all relate to financing, and in different channels," Chan said. "So financing for the residential channel, the commercial channel, and also the utility channel."
Suntech launched a construction line of credit just last week and is working on a residential financing program that will launch in the next quarter. Chan said that by increasing access to financing they are hoping to stimulate sales.
"It moves the needle not so much from a return perspective, but from an opening up of the market perspective," Chan said.
Solar panel maker Suntech Power Holdings Co Ltd plans to launch four or five financing programs for the U.S. market in the next six to nine months, the head of its North American business said on Tuesday.
The initiatives will cover various parts of the industry, including residential solar, Suntech America President Steven Chan said at the Reuters Global Energy and Climate Summit in San Francisco.
"We about have four or five parallel initiatives that all relate to financing, and in different channels," Chan said. "So financing for the residential channel, the commercial channel, and also the utility channel."
Suntech launched a construction line of credit just last week and is working on a residential financing program that will launch in the next quarter. According to Chan, increasing access to financing is similar to cutting prices in that it stimulates sales.
"It moves the needle not so much from a return perspective, but from an opening up of the market perspective," Chan said.
Polysilicon prices having fallen dramatically this year and currently hovering in the low $40's. This is has been due to the glut of solar products but also European subsidy cuts. With fear of further unreliability of that market, it makes sense that Suntech is looking at the North American market for the future.
Does this optimistic outlook for the North American solar market justify Suntech's spending more on land and labor in Arizona rather than manufacturing its panels in China? Still trying to figure this out and I will write more soon.
How the two companies financed these projects is a key difference and I will write more on this soon. I mention this now because Wednesday this week, Reuters reported Suntech plans to launch four or five financing programs for the US market in the next six to nine months. The initiatives will utility-level and residential solar projects, Suntech America President Steven Chan said at the Reuters Global Energy and Climate Summit in San Francisco.
"We about have four or five parallel initiatives that all relate to financing, and in different channels," Chan said. "So financing for the residential channel, the commercial channel, and also the utility channel."
Suntech launched a construction line of credit just last week and is working on a residential financing program that will launch in the next quarter. Chan said that by increasing access to financing they are hoping to stimulate sales.
"It moves the needle not so much from a return perspective, but from an opening up of the market perspective," Chan said.
Solar panel maker Suntech Power Holdings Co Ltd plans to launch four or five financing programs for the U.S. market in the next six to nine months, the head of its North American business said on Tuesday.
The initiatives will cover various parts of the industry, including residential solar, Suntech America President Steven Chan said at the Reuters Global Energy and Climate Summit in San Francisco.
"We about have four or five parallel initiatives that all relate to financing, and in different channels," Chan said. "So financing for the residential channel, the commercial channel, and also the utility channel."
Suntech launched a construction line of credit just last week and is working on a residential financing program that will launch in the next quarter. According to Chan, increasing access to financing is similar to cutting prices in that it stimulates sales.
"It moves the needle not so much from a return perspective, but from an opening up of the market perspective," Chan said.
Polysilicon prices having fallen dramatically this year and currently hovering in the low $40's. This is has been due to the glut of solar products but also European subsidy cuts. With fear of further unreliability of that market, it makes sense that Suntech is looking at the North American market for the future.
Does this optimistic outlook for the North American solar market justify Suntech's spending more on land and labor in Arizona rather than manufacturing its panels in China? Still trying to figure this out and I will write more soon.
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