This just came in JLM Pacific Epoch research company:
With an offer of RMB 1.09/kWh, three companies have won the tender to construct a 10MW photovoltaic project in Dunhuang, Gansu province:
-- Best Solar, a Jiangsu thin film and crystal solar module provider that has received investment from Peng Xiaofeng, chairman and CEO of Jiangxi-based LDK Solar (NYSE:LDK);
-- China Guangdong Nuclear (CGN) Energy Development Company, a wholly owned subsidiary of CGN Power Group;
-- and Enfinity NV, a solar installation specialist established in Belgium, reports the Economic Observer.
A related CGN insider said CGN Energy Development, Enfinity, and Best Solar will take 51%, 29% and 20% stake of the 25-year contract, respectively. More than 60 companies participated in the bidding.
Monday, June 29, 2009
Friday, June 26, 2009
ASB, Wenzhou Dazhan to invest RMB 530 mln in PV base
Jun. 26, 2009 (China Knowledge) - Saudi Arabia's Ahmed Salem Bugshan Group (ASB) have signed an agreement with Wenzhou Dazhan International Trading Company to jointly invest a total of RMB 530 million to build a photovoltaic (PV) industrial base in Wenzhou City, Zhejiang Province.
The PV industrial base will be used to produce solar energy cells and solar LED automatic lighting systems, and will be completed within three years. It is estimated that the PV projects will generate an annual production value of more than RMB 1 billion.
The two sides will invest RMB 100 million in the project and will set up a joint venture (JV), Dazhan Photovoltaic Co, the report said. Wenzhou Dazhan will hold a 70% in the JV and will provide technology support. ASB will invest cash and will hold a 30% stake in the JV.
ASB said its motive is to explore China's potential PV market and that it trusts Wenzhou Dazhan because the two companies have already been in cooperation for many years.
Last year Wenzhou Dazhan's chairman bought into a local firm in Anhui Province that is mainly engaged in manufacturing fuel-sensitized solar cells and solar LED automatic lighting systems.
The PV industrial base will be used to produce solar energy cells and solar LED automatic lighting systems, and will be completed within three years. It is estimated that the PV projects will generate an annual production value of more than RMB 1 billion.
The two sides will invest RMB 100 million in the project and will set up a joint venture (JV), Dazhan Photovoltaic Co, the report said. Wenzhou Dazhan will hold a 70% in the JV and will provide technology support. ASB will invest cash and will hold a 30% stake in the JV.
ASB said its motive is to explore China's potential PV market and that it trusts Wenzhou Dazhan because the two companies have already been in cooperation for many years.
Last year Wenzhou Dazhan's chairman bought into a local firm in Anhui Province that is mainly engaged in manufacturing fuel-sensitized solar cells and solar LED automatic lighting systems.
Thursday, June 25, 2009
Trina Solar Secures $57 Million Credit Facilities
CHANGZHOU, China, June 25 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, today announced it has secured from Standard Chartered Bank (China) Limited new credit facilities totaling approximately $57 million, consisting of trade financing and defensive hedging products. The facilities are aimed to provide financial support to Trina Solar's raw material procurement and product sales while helping Trina Solar to mitigate foreign exchange risks associated with market volatilities.
"The credit facilities offer us greater flexibility to strengthen our cash flow position to further enhance our capital resources", said Terry Wang, Trina Solar's Chief Financial Officer. "We are very pleased to work with Standard Chartered, a well-known international bank with extensive experience and presence in China. Our strategic collaboration with Standard Chartered confirms Trina Solar's financial strength and ability to secure funding in a challenging economic environment."
The Company's total credit facilities stand currently at approximately $520 million, up from $460 million as previously announced. The new credit facilities are part of the Company's on-going strategy to optimize its long- term capital structure.
About Trina Solar Limited
Trina Solar Limited is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 70,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which 70 are represented among senior management.
In China, the Bank set up its first branch in Shanghai in 1858 and has remained in operation throughout the past 150 years. Standard Chartered Bank (China) Limited is one of the first foreign banks to locally incorporate in China in April 2007. This demonstrates the Bank's commitment to the China market, and its leading position as a foreign bank in the banking industry.
Standard Chartered has one of the largest foreign bank networks -- with 15 branches, 37 sub-branches, 1 representative office and a Village Bank in China. In 2008, Standard Chartered China clinched the Asian Banker's Best Foreign Retail Bank in China Award, and the "Outstanding Corporate Award of 2008 Corporate Social Responsibility Ranking in China" by China Business Network.
For more information on Standard Chartered, please log on http://www.standardchartered.com
Safe Harbor Statement
This announcement 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 announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
"The credit facilities offer us greater flexibility to strengthen our cash flow position to further enhance our capital resources", said Terry Wang, Trina Solar's Chief Financial Officer. "We are very pleased to work with Standard Chartered, a well-known international bank with extensive experience and presence in China. Our strategic collaboration with Standard Chartered confirms Trina Solar's financial strength and ability to secure funding in a challenging economic environment."
The Company's total credit facilities stand currently at approximately $520 million, up from $460 million as previously announced. The new credit facilities are part of the Company's on-going strategy to optimize its long- term capital structure.
About Trina Solar Limited
Trina Solar Limited is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 70,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which 70 are represented among senior management.
In China, the Bank set up its first branch in Shanghai in 1858 and has remained in operation throughout the past 150 years. Standard Chartered Bank (China) Limited is one of the first foreign banks to locally incorporate in China in April 2007. This demonstrates the Bank's commitment to the China market, and its leading position as a foreign bank in the banking industry.
Standard Chartered has one of the largest foreign bank networks -- with 15 branches, 37 sub-branches, 1 representative office and a Village Bank in China. In 2008, Standard Chartered China clinched the Asian Banker's Best Foreign Retail Bank in China Award, and the "Outstanding Corporate Award of 2008 Corporate Social Responsibility Ranking in China" by China Business Network.
For more information on Standard Chartered, please log on http://www.standardchartered.com
Safe Harbor Statement
This announcement 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 announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Wednesday, June 24, 2009
LDK completes first 5,000-ton train in new Chinese poly plant
Marking the second company milestone in a week, LDK Solar’s progress with the construction of its 15,000MT polysilicon plant in Xinyu, China has seen the completion of its first 5,000 metric ton train. Following completion of installation at the company’s Utilities, Infrastructure and Offsite facilities, LDK will begin preparation for initial production of polysilicon in the first 5,000 MT train.
"We are very excited to reach this major milestone in the construction of our 15,000 MT polysilicon facility," commented Nick Sarno, Senior Vice President of Manufacturing at LDK Solar. "Commissioning of the first train and startup plans in this facility are underway. We remain on target to ramp to full 5,000 MT capacity over the next two quarters."
23 June 2009
By Síle Mc Mahon
"We are very excited to reach this major milestone in the construction of our 15,000 MT polysilicon facility," commented Nick Sarno, Senior Vice President of Manufacturing at LDK Solar. "Commissioning of the first train and startup plans in this facility are underway. We remain on target to ramp to full 5,000 MT capacity over the next two quarters."
23 June 2009
By Síle Mc Mahon
Monday, June 22, 2009
China top-5 power distributors looking to step into thin-film PV segment
Staff reporter, Taipei; Adam Hwang, DIGITIMES [Friday 19 June 2009]
The top-five state-run enterprises generating and distributing conventional electricity in China are all evaluating the feasibility of stepping into production of thin-film photovoltaic (PV) modules/systems due to strong incentives provided by the China government, according to industry sources in Taiwan.
The five enterprises are China Huaneng Group, China Huadian, China Datang, China Power Investment and State Grid of China, the sources indicated.
Two or three of the five enterprises have talked with two international suppliers of turnkey solutions for production of amorphous silicon thin-film PV modules, the sources noted.
In addition to offering a subsidization program for building-integrated PV (BIPV) installation projects, the China government has decided to offer a feed-in rate of 1.09 yuan (US$0.16) per kilowatt-hour for a 10MWp (megawatt-peak) PV power-generating station located in Dunhuang, northwestern China, the sources pointed out.
The top-five state-run enterprises generating and distributing conventional electricity in China are all evaluating the feasibility of stepping into production of thin-film photovoltaic (PV) modules/systems due to strong incentives provided by the China government, according to industry sources in Taiwan.
The five enterprises are China Huaneng Group, China Huadian, China Datang, China Power Investment and State Grid of China, the sources indicated.
Two or three of the five enterprises have talked with two international suppliers of turnkey solutions for production of amorphous silicon thin-film PV modules, the sources noted.
In addition to offering a subsidization program for building-integrated PV (BIPV) installation projects, the China government has decided to offer a feed-in rate of 1.09 yuan (US$0.16) per kilowatt-hour for a 10MWp (megawatt-peak) PV power-generating station located in Dunhuang, northwestern China, the sources pointed out.
Au Optronics Invests in solar panels and LCD Modules
Monday, June 22, 2009
AU Optronics, the world's third largest make of LCD screens, is planning two new investments this year, one in solar panels and another in an LCD module venture in China.
The Taiwanese company plans to buy US$125 million in shares of Japanese polysilicon producer M.Setek for a majority share of the company, AU said in a statement Monday. The company is the largets Japanese manufacturer of monocrystal silicon wafers
AU has already established an energy subsidiary, AUO Energy Taiwan Corp., and dedicated research and development team for its new energy business. The venture will focus on renewable energy projects.
AU Optronics also on Monday announced an agreement to build a joint venture LCD module production plant in Sichuan, China, site of a major earthquake last summer that killed tens of thousands of people.
AU will partner with Sichuan Changhong Electric Co. on the venture, which will be called BVCH Optronics (Sichuan) Corporation. AU will hold a majority 51 percent share of the company, which will be capitalized at Chinese yuan 100 million (US$14.65 million).
The joint venture will produce screen modules for LCD monitors, LCD TVs, and other components, AU said.
AU Optronics, the world's third largest make of LCD screens, is planning two new investments this year, one in solar panels and another in an LCD module venture in China.
The Taiwanese company plans to buy US$125 million in shares of Japanese polysilicon producer M.Setek for a majority share of the company, AU said in a statement Monday. The company is the largets Japanese manufacturer of monocrystal silicon wafers
AU has already established an energy subsidiary, AUO Energy Taiwan Corp., and dedicated research and development team for its new energy business. The venture will focus on renewable energy projects.
AU Optronics also on Monday announced an agreement to build a joint venture LCD module production plant in Sichuan, China, site of a major earthquake last summer that killed tens of thousands of people.
AU will partner with Sichuan Changhong Electric Co. on the venture, which will be called BVCH Optronics (Sichuan) Corporation. AU will hold a majority 51 percent share of the company, which will be capitalized at Chinese yuan 100 million (US$14.65 million).
The joint venture will produce screen modules for LCD monitors, LCD TVs, and other components, AU said.
Friday, June 19, 2009
Suntech Opens PV Module Testing Facility With UL
Suntech Power Holdings Co. Ltd. says it has opened the first PV module testing laboratory in China to be awarded the Underwriters Laboratories (UL) Witness Testing Data Program (WTDP) Certificate. Located at Suntech's headquarters in Wuxi, China, the PV module testing facility is the largest in the country, with 1,400 square meters and 7,000 square meters of indoor and outdoor testing space, respectively.
Test equipment includes pulse and continuous solar simulators, walk-in climate chambers, mechanical load and hail testers, electroluminescence testers and high-precision infrared cameras to evaluate all aspects of module quality and performance. All the equipment and testing procedures accord with the stringent standards of UL1703, IEC61215 and IEC61730-2.
Through UL's WTDP, PV module tests may be conducted under the supervision of UL personnel and subsequently awarded certification, enabling Suntech to bring solar products to market faster, the company says.
SOURCE: Suntech Power Holdings Co. Ltd.
Test equipment includes pulse and continuous solar simulators, walk-in climate chambers, mechanical load and hail testers, electroluminescence testers and high-precision infrared cameras to evaluate all aspects of module quality and performance. All the equipment and testing procedures accord with the stringent standards of UL1703, IEC61215 and IEC61730-2.
Through UL's WTDP, PV module tests may be conducted under the supervision of UL personnel and subsequently awarded certification, enabling Suntech to bring solar products to market faster, the company says.
SOURCE: Suntech Power Holdings Co. Ltd.
Thursday, June 18, 2009
Analyst predicts First Solar to become largest solar module manufacturer in ‘09
17 June 2009, by Mark Osborne
The meteoric rise of cadmium telluride (CdTe) thin-film photovoltaics module manufacturer, First Solar, Inc. is set to continue in 2009, according to Paula Mints, Principal Analyst at Navigant Consulting. In a presentation at the Solar Economics Forum held in London this week by GreenPower Conferences, Mints noted that First Solar could become the largest PV module producer in the world in 2009, surpassing the likes of Suntech and Sharp. On a solar megawatts-produced basis, First Solar is also expected to surpass Q-Cells for the first time, making it the world’s largest PV producer. Mints noted that CdTe thin-film production had achieved a CAGR of 193% between 2003 and 2008, with First Solar responsible for virtually all CdTe thin-film production.
“As everyone knows, 2009 is a depressed market. I wouldn’t be surprised if First Solar isn’t number 1 or number 2 in 2009”, commented Mints. “They are very aggressive, are vertically integrated in the U.S. and no-one can beat them when they are vertically integrated.”
Currently, First Solar has the lowest cost-per-watt of US$1.00, which was achieved in the fourth quarter of 2008. However, Mints noted that First Solar’s climb to the top may be short-lived!
The market researcher believes that conventional c-Si PV manufacturers will recover from 2010 onwards as the market returns to growth, especially in 2011. As the dominant technology by a wide margin, leading c-Si manufacturers such as Q-Cells, Sharp and Suntech could once again overtake First Solar in megawatt shipments.
Mints also noted that c-Si production costs had greater scope to be lowered than thin-film technologies that were in volume production. As polysilicon is a key cost, lower prices have a significant impact on competiveness. Thin-film technologies are also limited in their ability to raise conversion efficiencies, further hampering their ability to gain considerable market share over c-Si.
The meteoric rise of cadmium telluride (CdTe) thin-film photovoltaics module manufacturer, First Solar, Inc. is set to continue in 2009, according to Paula Mints, Principal Analyst at Navigant Consulting. In a presentation at the Solar Economics Forum held in London this week by GreenPower Conferences, Mints noted that First Solar could become the largest PV module producer in the world in 2009, surpassing the likes of Suntech and Sharp. On a solar megawatts-produced basis, First Solar is also expected to surpass Q-Cells for the first time, making it the world’s largest PV producer. Mints noted that CdTe thin-film production had achieved a CAGR of 193% between 2003 and 2008, with First Solar responsible for virtually all CdTe thin-film production.
“As everyone knows, 2009 is a depressed market. I wouldn’t be surprised if First Solar isn’t number 1 or number 2 in 2009”, commented Mints. “They are very aggressive, are vertically integrated in the U.S. and no-one can beat them when they are vertically integrated.”
Currently, First Solar has the lowest cost-per-watt of US$1.00, which was achieved in the fourth quarter of 2008. However, Mints noted that First Solar’s climb to the top may be short-lived!
The market researcher believes that conventional c-Si PV manufacturers will recover from 2010 onwards as the market returns to growth, especially in 2011. As the dominant technology by a wide margin, leading c-Si manufacturers such as Q-Cells, Sharp and Suntech could once again overtake First Solar in megawatt shipments.
Mints also noted that c-Si production costs had greater scope to be lowered than thin-film technologies that were in volume production. As polysilicon is a key cost, lower prices have a significant impact on competiveness. Thin-film technologies are also limited in their ability to raise conversion efficiencies, further hampering their ability to gain considerable market share over c-Si.
Thursday, June 11, 2009
China Moves to Boost Foreign Investment
BEIJING (AFP) — China has loosened foreign exchange curbs on firms wanting to invest abroad, with up to 30 billion dollars expected to flow out, state media has reported.
All Chinese firms can use their own foreign exchange funds or buy from the state reserve to finance operations at their overseas arms from August 1, the State Administration of Foreign Exchange (SAFE) said in a statement.
In the past, only large multinational companies were allowed to use their forex to lend to overseas ventures, according to the statement, which was posted on SAFE's website Tuesday.
"We had done a stress test, and the maximum possible capital outflow from this new mechanism will be 30 billion dollars," said Sun Lujun, a SAFE official, according to Wednesday's China Daily.
The move was aimed at helping Chinese companies expand overseas as it has become increasingly hard for them to raise fund abroad due to the global international crisis, SAFE said in a separate statement on its website.
However, the amount that can be lent is capped at 30 percent of the parent's net assets and should not exceed the subsidiary's total investment registered with SAFE, according to the new rules.
The easing of controls on forex outflow "will not cause (a) major impact on China's balance of payments" because the amount of cash unleashed is limited compared with the China's foreign exchange reserves, SAFE said.
China holds the world's largest forex reserves, which stood at 1.95 trillion dollars at the end of March, official data showed.
By the end of 2008, the country had 2.9 trillion dollars in foreign financial assets including both official forex reserves and private holdings, according to the China Daily.
Overseas investment has picked up in recent years, nearly doubling to 52.2 billion dollars last year from 26.5 billion dollars in 2007, it added.
All Chinese firms can use their own foreign exchange funds or buy from the state reserve to finance operations at their overseas arms from August 1, the State Administration of Foreign Exchange (SAFE) said in a statement.
In the past, only large multinational companies were allowed to use their forex to lend to overseas ventures, according to the statement, which was posted on SAFE's website Tuesday.
"We had done a stress test, and the maximum possible capital outflow from this new mechanism will be 30 billion dollars," said Sun Lujun, a SAFE official, according to Wednesday's China Daily.
The move was aimed at helping Chinese companies expand overseas as it has become increasingly hard for them to raise fund abroad due to the global international crisis, SAFE said in a separate statement on its website.
However, the amount that can be lent is capped at 30 percent of the parent's net assets and should not exceed the subsidiary's total investment registered with SAFE, according to the new rules.
The easing of controls on forex outflow "will not cause (a) major impact on China's balance of payments" because the amount of cash unleashed is limited compared with the China's foreign exchange reserves, SAFE said.
China holds the world's largest forex reserves, which stood at 1.95 trillion dollars at the end of March, official data showed.
By the end of 2008, the country had 2.9 trillion dollars in foreign financial assets including both official forex reserves and private holdings, according to the China Daily.
Overseas investment has picked up in recent years, nearly doubling to 52.2 billion dollars last year from 26.5 billion dollars in 2007, it added.
China Becomes Global Green Leader with Massive Solar Projects
I have been reading Seeking Alpha a lot lately. Kelvin Schulle wrote this article today:
During the last six months, the Chinese government has planned massive solar projects ahead of the Obama administration in the U.S. Wall street can hardly obtain first hand information because of the communication obstacle between the east and the the west as lauguage is a major cause of the delay. Many westerners rely on the translation from media such as Tanwain's DiGitimes, and JML Pacific Epoch, a research firm located in China that publishes in English.
Back in Jan 2009, the Qinghai province Haixi region rolled out the world's first 1GW solar farm project. Suntech power (STP) has been reportedly selected for the first 400MW, ReneSola (SOL) and JA Solar (JASO) are likely to win 200MW each, to reach 80% of its 1GW target (note: none of the companies have officially released any contracts yet). Many other Chinese solar companies are also competing for the rest of the 200MW - companies such as Solarfun Power Holding (SOLF), Yingli Green (YGE), Trina Solar (TSL).
Moreover, Qinghai is just one of the provinces that the central government fully supports for the nation's ambitions. Before Qinghai's 1GW solar farm, Yunnan province rolled out its first on-grid 166MW solar farm. According to the Guardian's report, both the Gangsu province and Inner Mongolia province are planning for 2GW or bigger solar farms in their regions. The other 10 provinces have also submitted solar energy projects to the central government for approval. China's target for renewable energy is to achieve 15% of total energy consumption for the nation - that will translate to roughly 30-40GW by 2020. But we should not ignore the contribution from other forms of renewable energy such as wind, geothermal, biomass, etc.
It is worth noting that , with huge solar projects on the way in China, there are only two major solar wafer providers, LDK solar (LDK) and ReneSola (SOL). ReneSola is also a vertical integration company, providing PV models.
Now let's take a look at the big solar projects in U.S. The largest one so far is the 800MW in California, to be built by Optisolar. Sunpower is going to provide 250MW PV panels to the project. We also have some small scale solar farms on schedule, such as the 75MW solar project in Charlotte County, Florida. First Solar (FSLR) is also planning a 48MW Nevada solar farm that will start generating electricity this year.
Over all, President Obama's renewable energy plan is left behind, and our competitor China is moving forward with full speed.
During the last six months, the Chinese government has planned massive solar projects ahead of the Obama administration in the U.S. Wall street can hardly obtain first hand information because of the communication obstacle between the east and the the west as lauguage is a major cause of the delay. Many westerners rely on the translation from media such as Tanwain's DiGitimes, and JML Pacific Epoch, a research firm located in China that publishes in English.
Back in Jan 2009, the Qinghai province Haixi region rolled out the world's first 1GW solar farm project. Suntech power (STP) has been reportedly selected for the first 400MW, ReneSola (SOL) and JA Solar (JASO) are likely to win 200MW each, to reach 80% of its 1GW target (note: none of the companies have officially released any contracts yet). Many other Chinese solar companies are also competing for the rest of the 200MW - companies such as Solarfun Power Holding (SOLF), Yingli Green (YGE), Trina Solar (TSL).
Moreover, Qinghai is just one of the provinces that the central government fully supports for the nation's ambitions. Before Qinghai's 1GW solar farm, Yunnan province rolled out its first on-grid 166MW solar farm. According to the Guardian's report, both the Gangsu province and Inner Mongolia province are planning for 2GW or bigger solar farms in their regions. The other 10 provinces have also submitted solar energy projects to the central government for approval. China's target for renewable energy is to achieve 15% of total energy consumption for the nation - that will translate to roughly 30-40GW by 2020. But we should not ignore the contribution from other forms of renewable energy such as wind, geothermal, biomass, etc.
It is worth noting that , with huge solar projects on the way in China, there are only two major solar wafer providers, LDK solar (LDK) and ReneSola (SOL). ReneSola is also a vertical integration company, providing PV models.
Now let's take a look at the big solar projects in U.S. The largest one so far is the 800MW in California, to be built by Optisolar. Sunpower is going to provide 250MW PV panels to the project. We also have some small scale solar farms on schedule, such as the 75MW solar project in Charlotte County, Florida. First Solar (FSLR) is also planning a 48MW Nevada solar farm that will start generating electricity this year.
Over all, President Obama's renewable energy plan is left behind, and our competitor China is moving forward with full speed.
Tuesday, June 9, 2009
Yingli Green to supply PV modules to Czech solar power plant
Yingli Green Energy Holding Company has announced that its photovoltaic modules will be installed at a 13MW plant in the Czech Republic to be constructed by SAG Solarstrom, which is engaged in the construction and operation of solar power plants.
Pursuant to the Czech Republic's current feed-in tariff, installations of more than 30kWp are remunerated with CZK12.79/kWh.
Construction of the plant is scheduled to begin in July 2009 for completion in autumn 2009. The plant is expected to produce an estimated 13.65 million kWh of electricity per year, enough to supply more than 3,000 households.
Karl Kuhlmann, CEO of SAG Solarstrom, said: "SAG stands for quality. This is why we only use high quality components for our photovoltaic (PV) power plants. Yingli has a proven track record from numerous projects at SAG of delivering high quality modules with an excellent and reliable performance and yield."
Pursuant to the Czech Republic's current feed-in tariff, installations of more than 30kWp are remunerated with CZK12.79/kWh.
Construction of the plant is scheduled to begin in July 2009 for completion in autumn 2009. The plant is expected to produce an estimated 13.65 million kWh of electricity per year, enough to supply more than 3,000 households.
Karl Kuhlmann, CEO of SAG Solarstrom, said: "SAG stands for quality. This is why we only use high quality components for our photovoltaic (PV) power plants. Yingli has a proven track record from numerous projects at SAG of delivering high quality modules with an excellent and reliable performance and yield."
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