XINYU CITY, China and SUNNYVALE, Calif., March 11 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK) announced today that Munich Re's Special Enterprise Risk unit's new insurance solution will cover the performance warranty of its photovoltaic modules.
The insurance solution covers the performance warranty of LDK Solar modules for a period of 25 years. The warranty guarantees that the modules will perform to at least 90 percent capacity in the first ten years and to at least 80 percent in the remaining 15 years.
The cover offers LDK Solar a greater degree of business certainty and thus constitutes a powerful differentiator in a competitive marketplace. Ultimately it gives operators of solar parks additional economic security in the event of an unforeseen loss in performance of the modules. This new insurance solution is a major stepping-stone in financing photovoltaic projects as it provides additional financial security.
Thomas Blunck, Member of the Board of Management at Munich Re: "We are happy that we acquired LDK Solar as a new client. It shows that our innovative photovoltaic module guarantee cover is beginning to establish a standard in the industry. Investors and lenders will welcome this development."
"We are pleased to become a client of Munich Re and view this insurance solution as a positive development for the PV industry as it provides additional fiscal security in guaranteeing the long-term performance of solar modules," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
The insurance cover developed by Munich Re's unit Special Enterprise Risk will be implemented for Munich Re by one of the group's primary insurers.
Thursday, March 11, 2010
Ventura County Turns Vision for Solar Energy into Action with Dedication of Two New Systems
ROSEVILLE, Calif.--(BUSINESS WIRE)--The County of Ventura, Solar Power, Inc. (“SPI”) (OTCBB: SOPW), and Solar Power Partners (“SPP”) held a dedication ceremony on March 10, 2010 at Ventura County’s Saticoy Operations Yard celebrating the completion of the installation of photovoltaic (“PV”) solar systems on two of the County’s buildings. The two systems, a 334.56 kW DC system on the Fleet Services and Public Works buildings at the Saticoy Operations Yard, and a 157.44 kW DC system on the County’s Vanguard building, have begun to provide power to the County’s operations at each location. Combined, the 492 kilowatts DC will generate an estimated 728,000 kilowatt hours of electricity during the first year of production. The system will also provide the County with a hedge against rising electricity rates for years to come. In addition, the systems will also provide the County with significant environmental benefit, producing an environmental offset that is the equivalent of removing 523 pounds (242.27 metric tons) of CO2 from the environment during their first year of operation.
Officials within Ventura County have been working to make solar energy a reality at the County’s facilities since January 2008. In 2009, they turned to Solar Power, Inc. a leading manufacturer and developer of residential, commercial and utility-scale systems to help turn their vision into action. Solar Power, Inc. partnered with Solar Power Partners to finance the systems. SPP will own and operate the systems, while selling the solar-generated electricity back to the County. Jointly, the project is financed by SPP, US Bank and another financial institution through an LLC. It is under a solar Power Purchase Agreement that electricity will be sold, requiring no up-front capital outlay from the County for the systems.
The project’s completion serves as a strong starting point for the County’s entry into sustainable alternative energy solutions and is an example of its enduring commitment to fiscal and social responsibility. “We are very happy to have completed installation of this project. We now have two state-of-the-art systems ready to produce clean, renewable solar electricity for us,” said Steve Morgan, Chief Deputy Director GSA for Ventura County. “The ultimate beneficiaries of this project will be the taxpayers across our County through the cost savings and environmental offsets these systems will generate.”
The two systems are a combination of conventional roof-mounted solar and Solar Power, Inc.’s proprietary SkyMount® system. SkyMount® enabled minimal roof penetrations, reduced installation time during the project, and will optimize the system’s solar module performance. The installations utilize 2,448 of SPI’s 205-watt modules, ranked with the California Energy Commission as the industry’s top performing solar modules in their category.
“We have enjoyed working with the entire team at the County of Ventura during the course of this project. It will be especially rewarding to see the systems we’ve produced help the County achieve their cost saving goals,” said Bradley Ferrell, President of Business Development for Solar Power, Inc. “We hope to work with the County of Ventura team again as they continue their migration to solar energy and expand their sustainability initiative across other areas of the County’s operations,” Mr. Ferrell concluded.
“We’re delighted to continue helping counties like Ventura realize the benefits of solar in a cost-effective, streamlined way,” said Bob Powell, President and CEO of Solar Power Partners. “We were especially pleased to lend our project financing and system operations experience to this partnership, and demonstrate the benefits of solar energy to local ratepayers through a smart financing and ownership model.”
The project’s completion serves as a strong starting point for the County’s entry into sustainable alternative energy solutions and is an example of its enduring commitment to fiscal and social responsibility.
Officials within Ventura County have been working to make solar energy a reality at the County’s facilities since January 2008. In 2009, they turned to Solar Power, Inc. a leading manufacturer and developer of residential, commercial and utility-scale systems to help turn their vision into action. Solar Power, Inc. partnered with Solar Power Partners to finance the systems. SPP will own and operate the systems, while selling the solar-generated electricity back to the County. Jointly, the project is financed by SPP, US Bank and another financial institution through an LLC. It is under a solar Power Purchase Agreement that electricity will be sold, requiring no up-front capital outlay from the County for the systems.
The project’s completion serves as a strong starting point for the County’s entry into sustainable alternative energy solutions and is an example of its enduring commitment to fiscal and social responsibility. “We are very happy to have completed installation of this project. We now have two state-of-the-art systems ready to produce clean, renewable solar electricity for us,” said Steve Morgan, Chief Deputy Director GSA for Ventura County. “The ultimate beneficiaries of this project will be the taxpayers across our County through the cost savings and environmental offsets these systems will generate.”
The two systems are a combination of conventional roof-mounted solar and Solar Power, Inc.’s proprietary SkyMount® system. SkyMount® enabled minimal roof penetrations, reduced installation time during the project, and will optimize the system’s solar module performance. The installations utilize 2,448 of SPI’s 205-watt modules, ranked with the California Energy Commission as the industry’s top performing solar modules in their category.
“We have enjoyed working with the entire team at the County of Ventura during the course of this project. It will be especially rewarding to see the systems we’ve produced help the County achieve their cost saving goals,” said Bradley Ferrell, President of Business Development for Solar Power, Inc. “We hope to work with the County of Ventura team again as they continue their migration to solar energy and expand their sustainability initiative across other areas of the County’s operations,” Mr. Ferrell concluded.
“We’re delighted to continue helping counties like Ventura realize the benefits of solar in a cost-effective, streamlined way,” said Bob Powell, President and CEO of Solar Power Partners. “We were especially pleased to lend our project financing and system operations experience to this partnership, and demonstrate the benefits of solar energy to local ratepayers through a smart financing and ownership model.”
The project’s completion serves as a strong starting point for the County’s entry into sustainable alternative energy solutions and is an example of its enduring commitment to fiscal and social responsibility.
Applied Materials Expands Display, Solar Equipment Manufacturing Capability in Taiwan
TAINAN, Taiwan--(BUSINESS WIRE)--Applied Materials, Inc., the world’s largest supplier of equipment to the semiconductor, flat panel display (FPD) and solar photovoltaic (PV) industries, today announced the opening of its newly expanded Tainan Manufacturing Center in Tainan, Taiwan. The nearly 15,000 square meter facility will enhance Applied’s capability to serve its FPD and thin film solar PV customers in Asia while capitalizing on Taiwan’s excellent location, strong talent pool and supply chain efficiencies.
“The Tainan Manufacturing Center is one of our biggest investments in Asia and puts Taiwan at the center of our display and solar equipment technology efforts,” said Mike Splinter, chairman and CEO of Applied Materials. “Applied has a 20-year history of success in Taiwan and with this expanded center, we are setting a strong foundation for even greater success in the next 20 years. I would like to thank our customers, employees and the Taiwan government who helped make this state-of-the-art manufacturing facility possible.”
The Tainan Manufacturing Center employs approximately 150 people and is expected to build and ship about 100 new PECVD* and PVD* systems this year – a 400% increase in shipments from last year. The Center’s Tainan location and extensive supply chain in Asia will enable Applied to more rapidly meet the demands of its large base of display and solar customers in Asia.
Applied Materials has a major presence in Taiwan with more than 800 employees in 10 offices across the country. A leading market for semiconductor and FPD manufacturing, Taiwan is also becoming an increasingly active region for solar energy. In 2009, Taiwan passed renewable energy legislation aimed at promoting the use of renewable energy and boosting energy diversification. Applied has donated R&D systems for thin film solar energy research to some of Taiwan’s leading universities and supports education efforts through its Applied Young Talent program.
Taiwanese Premier D.Y. Wu, Dr. L.C. Lee, minister of Taiwan’s National Science Council, Tainan County Mayor H.J. Su and S.C. Lin, vice minister of Taiwan Economic Affairs, attended the festivities and recognized the contributions Applied has made to the country after 20 years of doing business in Taiwan.
“I am pleased that Applied Materials, a globally recognized company, is continuing to invest in Tainan and we will provide our full support to making the Center a great success,” said Premier D.Y. Wu. “This is an exciting time for Taiwan’s technology industry as solar energy and flat panel displays emerge as major opportunities for our economic development in the 21st century. We celebrate Applied’s successful history in Taiwan and the extraordinary achievements made through the collaboration and commitment of our people.”
“The Tainan Manufacturing Center is one of our biggest investments in Asia and puts Taiwan at the center of our display and solar equipment technology efforts,” said Mike Splinter, chairman and CEO of Applied Materials. “Applied has a 20-year history of success in Taiwan and with this expanded center, we are setting a strong foundation for even greater success in the next 20 years. I would like to thank our customers, employees and the Taiwan government who helped make this state-of-the-art manufacturing facility possible.”
The Tainan Manufacturing Center employs approximately 150 people and is expected to build and ship about 100 new PECVD* and PVD* systems this year – a 400% increase in shipments from last year. The Center’s Tainan location and extensive supply chain in Asia will enable Applied to more rapidly meet the demands of its large base of display and solar customers in Asia.
Applied Materials has a major presence in Taiwan with more than 800 employees in 10 offices across the country. A leading market for semiconductor and FPD manufacturing, Taiwan is also becoming an increasingly active region for solar energy. In 2009, Taiwan passed renewable energy legislation aimed at promoting the use of renewable energy and boosting energy diversification. Applied has donated R&D systems for thin film solar energy research to some of Taiwan’s leading universities and supports education efforts through its Applied Young Talent program.
Taiwanese Premier D.Y. Wu, Dr. L.C. Lee, minister of Taiwan’s National Science Council, Tainan County Mayor H.J. Su and S.C. Lin, vice minister of Taiwan Economic Affairs, attended the festivities and recognized the contributions Applied has made to the country after 20 years of doing business in Taiwan.
“I am pleased that Applied Materials, a globally recognized company, is continuing to invest in Tainan and we will provide our full support to making the Center a great success,” said Premier D.Y. Wu. “This is an exciting time for Taiwan’s technology industry as solar energy and flat panel displays emerge as major opportunities for our economic development in the 21st century. We celebrate Applied’s successful history in Taiwan and the extraordinary achievements made through the collaboration and commitment of our people.”
SunEdison to Build Europe’s Largest Solar Power Plant in Rovigo, Italy
ROVIGO, Italy--(BUSINESS WIRE)--SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), received final approval from the Italian government to develop and construct a 72 Megawatt (MW) photovoltaic solar power plant in Northeastern Italy, near the town of Rovigo. When completed, this is expected to be the largest photovoltaic (PV) solar power plant in Europe.
Power generation will begin in the second half of 2010 with final completion expected by year end. In the first full year of operation, the system will generate sufficient energy to power 17,150 homes and avoid 41,000 tons of CO2 – the equivalent of removing 8,000 cars from the road.
SunEdison will jointly develop the project with financing partner Banco Santander. Additional financial partners are expected to join the project for final ownership.
“SunEdison is focused on enabling the growth of global solar markets through strong capabilities in project finance, engineering, low-cost procurement and operations and maintenance services,” commented Carlos Domenech, President of SunEdison.
“Veneto is taking decisive action to advance the use of clean, renewable energy sources,” said Renzo Marangon, government official of the Veneto region. “At the same time, this project is expected to create over 350 local construction jobs and build expertise in advanced energy technologies. We expect Rovigo to serve as a European model for large-scale, alternative-energy projects.”
“A critical element of our approach is working closely with the right partners,” added Pancho Perez, General Manager for Europe and MENA region at SunEdison, “including developers, suppliers and contractors. For the Rovigo project, we selected Isolux Corsán, a large-scale infrastructure construction company with a strong track record in utility-scale solar plants.”
“We are pleased to be selected by SunEdison to construct the largest PV solar plant in Europe. We are looking forward to extending this partnership beyond Italy,” said Luis Delso, President of Isolux Corsán.
At 72 megawatts, this solar-power plant will be the largest in Europe. Currently, the largest facility is a 60MW solar farm in Olmedilla, Spain, followed by a 50 MW in Strasskirchen, Germany, built by MEMC through a joint venture agreement.
Power generation will begin in the second half of 2010 with final completion expected by year end. In the first full year of operation, the system will generate sufficient energy to power 17,150 homes and avoid 41,000 tons of CO2 – the equivalent of removing 8,000 cars from the road.
SunEdison will jointly develop the project with financing partner Banco Santander. Additional financial partners are expected to join the project for final ownership.
“SunEdison is focused on enabling the growth of global solar markets through strong capabilities in project finance, engineering, low-cost procurement and operations and maintenance services,” commented Carlos Domenech, President of SunEdison.
“Veneto is taking decisive action to advance the use of clean, renewable energy sources,” said Renzo Marangon, government official of the Veneto region. “At the same time, this project is expected to create over 350 local construction jobs and build expertise in advanced energy technologies. We expect Rovigo to serve as a European model for large-scale, alternative-energy projects.”
“A critical element of our approach is working closely with the right partners,” added Pancho Perez, General Manager for Europe and MENA region at SunEdison, “including developers, suppliers and contractors. For the Rovigo project, we selected Isolux Corsán, a large-scale infrastructure construction company with a strong track record in utility-scale solar plants.”
“We are pleased to be selected by SunEdison to construct the largest PV solar plant in Europe. We are looking forward to extending this partnership beyond Italy,” said Luis Delso, President of Isolux Corsán.
At 72 megawatts, this solar-power plant will be the largest in Europe. Currently, the largest facility is a 60MW solar farm in Olmedilla, Spain, followed by a 50 MW in Strasskirchen, Germany, built by MEMC through a joint venture agreement.
Suniva Named “Renewable Energy Exporter of the Year” by Export-Import Bank of the United States
WASHINGTON--(BUSINESS WIRE)--Suniva, Inc., a U.S. manufacturer of high-efficiency monocrystalline silicon solar cells and modules, today announced that it has been named “Renewable Energy Exporter of the Year” by the Export-Import Bank of the United States. The award was presented today at the EX-IM Bank Annual Conference prior to Suniva CEO John Baumstark’s introduction of President Barack Obama to attendees.
Last year, Suniva exported more than 90 percent of its product to Asia and Europe. The company has created more than 150 new jobs and plans to hire 500 additional staff at a new manufacturing plant in Michigan. Suniva employs a diverse workforce—approximately a quarter of employees are military veterans and many others were hired from shuttered automotive plants.
“As America’s only manufacturer of high-efficiency, monocrystalline solar cells, Suniva is proud to be doing its part to help make President Obama’s vision of doubling exports over the next five years a reality,” said John Baumstark, chairman and chief executive officer of Suniva. “The Suniva team is working hard to protect the environment and create new jobs for the next generation of Americans.”
Suniva was also featured in several prestigious venture capital backed company lists during the past week. The company ranked as The Wall Street Journal’s 2nd most promising Venture-Backed Clean Technology Company and the 15th overall Venture-Backed Company across all industries. Greentech Media also included Suniva in its list of the Top 50 VC-Funded Greentech Startups.
With its expanding and skilled workforce, Suniva is producing world-class technology and generating record setting screen printed solar cell efficiencies in development and production. For more information about Suniva and its products, please visit www.suniva.com.
Last year, Suniva exported more than 90 percent of its product to Asia and Europe. The company has created more than 150 new jobs and plans to hire 500 additional staff at a new manufacturing plant in Michigan. Suniva employs a diverse workforce—approximately a quarter of employees are military veterans and many others were hired from shuttered automotive plants.
“As America’s only manufacturer of high-efficiency, monocrystalline solar cells, Suniva is proud to be doing its part to help make President Obama’s vision of doubling exports over the next five years a reality,” said John Baumstark, chairman and chief executive officer of Suniva. “The Suniva team is working hard to protect the environment and create new jobs for the next generation of Americans.”
Suniva was also featured in several prestigious venture capital backed company lists during the past week. The company ranked as The Wall Street Journal’s 2nd most promising Venture-Backed Clean Technology Company and the 15th overall Venture-Backed Company across all industries. Greentech Media also included Suniva in its list of the Top 50 VC-Funded Greentech Startups.
With its expanding and skilled workforce, Suniva is producing world-class technology and generating record setting screen printed solar cell efficiencies in development and production. For more information about Suniva and its products, please visit www.suniva.com.
Chevron Energy Solutions to Build 3.7MW Solar Project for East Side Union High School District
SAN JOSE, Calif.--(BUSINESS WIRE)--Chevron Energy Solutions, a unit of Chevron Corporation (NYSE:CVX), and East Side Union High School District in San José, California, today announced the start of construction on a 3.7-megawatt solar project that is expected to provide more than $1.5 million in budget relief to the district’s general fund in the first year and $7.6 million over five years. It is anticipated that the project will reduce the district’s electric utility costs by 30 percent and deliver $36 million in savings over the life of the project.
“Our schools will all benefit from these savings, especially in these tough economic times when they’re needed most,” said East Side Union High School District Interim Superintendent Dan Moser. “Also, this project reduces our carbon footprint and allows us to incorporate solar into our teaching curriculum so our teachers and students can learn about renewable energy technologies firsthand.”
The solar panels at six school sites will generate enough power to light more than 250,000 average-sized compact fluorescent light bulbs. The district will also reduce its purchase of utility power through this project, which is expected to reduce carbon emissions by more than 3,100 metric tons per year, equivalent to planting more than 980 acres of trees. Through professional development workshops, the district’s teachers will learn how they can use hands-on solar kits and activity guides in the classroom to teach students about solar energy.
Chevron Energy Solutions will design, build, operate, maintain, measure and guarantee the solar energy system’s performance for the district. The project will also help stimulate the local Silicon Valley economy by hiring more than 100 local union contractors. Chevron Energy Solutions is the nation’s largest installer of solar energy for education institutions and has developed hundreds of projects involving energy efficiency and renewable power for education, government and business customers in the United States since 2000.
“We are pleased to help East Side Union High School District celebrate its 60th anniversary by creating savings and learning opportunities through solar energy,” said Jim Davis, president of Chevron Energy Solutions. “This project is a prime example of how education institutions can use solar projects to provide budget relief and teach the next generation about clean technologies.”
The groundbreaking for this project is being celebrated today at Santa Teresa High School in San José, at an event attended by students and district, government and business officials. The project is expected to be completed later this year.
Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
“Our schools will all benefit from these savings, especially in these tough economic times when they’re needed most,” said East Side Union High School District Interim Superintendent Dan Moser. “Also, this project reduces our carbon footprint and allows us to incorporate solar into our teaching curriculum so our teachers and students can learn about renewable energy technologies firsthand.”
The solar panels at six school sites will generate enough power to light more than 250,000 average-sized compact fluorescent light bulbs. The district will also reduce its purchase of utility power through this project, which is expected to reduce carbon emissions by more than 3,100 metric tons per year, equivalent to planting more than 980 acres of trees. Through professional development workshops, the district’s teachers will learn how they can use hands-on solar kits and activity guides in the classroom to teach students about solar energy.
Chevron Energy Solutions will design, build, operate, maintain, measure and guarantee the solar energy system’s performance for the district. The project will also help stimulate the local Silicon Valley economy by hiring more than 100 local union contractors. Chevron Energy Solutions is the nation’s largest installer of solar energy for education institutions and has developed hundreds of projects involving energy efficiency and renewable power for education, government and business customers in the United States since 2000.
“We are pleased to help East Side Union High School District celebrate its 60th anniversary by creating savings and learning opportunities through solar energy,” said Jim Davis, president of Chevron Energy Solutions. “This project is a prime example of how education institutions can use solar projects to provide budget relief and teach the next generation about clean technologies.”
The groundbreaking for this project is being celebrated today at Santa Teresa High School in San José, at an event attended by students and district, government and business officials. The project is expected to be completed later this year.
Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
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