KAUAI, Hawaii, Jan. 30 /PRNewswire/ -- DuPont today announced the installation of its largest photovoltaic solar energy facility at its Pioneer Hi-Bred Waimea Research Center in Kauai, Hawaii.
The Waimea photovoltaic installation is comprised of 1,500 panels - made from several DuPont photovoltaic materials -- produced by Evergreen Solar and installed by REC Solar. The one-acre array is capable of generating about 85 percent of the energy needs of the research facility. It is expected to generate 706,205 kilowatt hours (kwh) annually, or enough power for 64 average-size homes. By using renewable energy, the facility will avoid the emissions (equivalent carbon dioxide) from approximately 100 cars annually, saving Pioneer about $200,000 per year in avoided purchased electricity costs. The installation was completed and fully operational in December 2008.
DuPont has already installed photovoltaic solar power systems for its R&D and business facilities in Wilmington, Del., and Taoyuan, Taiwan.
"This installation is a great example of our commitment to be both a key materials and technology supplier to the photovoltaic industry, and also a leader of solar power use," said Marc Doyle, global business director - DuPont Photovoltaic Solutions. "Our products can help make clean renewable energy a reality while also powering our facilities as part of DuPont's sustainability goals."
REC Solar chief executive officer Angiolo Laviziano commented on the positive business and environmental reasons for companies to embrace solar power to meet their energy needs. "Companies like DuPont are turning to solar power because it makes good business sense and supports their environmental initiatives," said Angiolo Laviziano, chief executive officer of REC Solar. "DuPont is an innovative business leader that has chosen the most reliable solar technology available today to maximize the amount of clean, renewable solar power generated at its Kauai facility."
Pioneer Hi-Bred International, Inc., a DuPont business, uses innovative technology to carry out crop seed research and development. Randal Francisco, President of the Kauai Chamber of Commerce, noted Pioneer recently celebrated their 40th year as part of Kauai's business and agriculture community. "The Kauai Chamber of Commerce salutes and congratulates Pioneer Hi-Bred in its investment and commitment to renewable energy thereby reducing its dependence on fossil-fuel and returning energy back to Kauai's power grid. It's also economic sense that Pioneer Hi-Bred joins a growing list of Kauai Chamber of Commerce members such as Costco Wholesale Warehouse and Grand Hyatt Kauai Resort & Spa as Kauai companies who in the past year invested significant amounts of time and money to join Kauai's ever growing list of businesses and residents who believe in the benefits of renewable energy and a sustainable Kauai future."
Mattie Yoshioka, president and chief executive officer of Kauai Economic Development Board Inc. noted the enthusiasm of participants at its recent Kauai renewable energy conference, complimented Pioneer Hi-Bred International for continuing the momentum generated at the conference. "Pioneer is a committed member of the science and technology community on Kauai, and they are a demonstrated leader in advancing renewable clean energy here with the establishment of the largest ground solar panel installation on Kauai. What could be better for our island than a renewable energy project using one of Kauai's best clean energy resources, sunlight."
DuPont offers the broadest portfolio in the solar energy market with eight essential products. DuPont is a leading material and technology supplier to the photovoltaic industry with more than 25 years of experience in photovoltaic materials development. DuPont technologies enable higher power output with improved productivity and increased solar module lifetime. The company offers a broad and growing portfolio of materials solutions for both crystalline silicon and thin film cells and modules including:
* DuPont(TM) Elvax(R) EVA resins for the encapsulant sheet: cushions individual cells from impact and enables the transmission of sunlight to the cells;
* DuPont PV Encapsulant Sheets: Ranging from soft to structural, clear DuPont(TM) PV5200 and PV5300 Series encapsulant sheets offer proven safety and laminating performance, and deliver long-term protection for the most sensitive portions of photovoltaic modules;
* DuPont(TM) Teflon(R) fluoropolymer film for front sheets and flexible panels: offers mechanical strength and durability against cracking and abrasion, flexibility and nearly 100 percent transparency;
* DuPont(TM) Tedlar(R) polyvinyl fluoride films: delivers long-lasting UV and weather-resistant back sheets;
* DuPont(TM) Solamet(R) thick film metallization pastes: increases the efficiency and yield of solar cells;
* DuPont(TM) Rynite(R) PET thermoplastic resins: increases safety, eliminates corrosion, and provides long-lasting performance for junction boxes and structural supports in harsh environments;
* DuPont(TM) Kapton(R) polyimide film for thin film substrates: provides excellent electrical and thermal properties to thin film modules;
* DuPont Teijin Films (Mylar(R), Melinex(R) and Tetoron(R) polyester films) for backsheet interlayers: provides added protection from the environment;
* Kalrez(R) perfluoroelastomer parts from DuPont Performance Elastomers: provides excellent resistance to aggressive chemicals and high temperatures to help reduce the risk of unplanned maintenance.
DuPont - one of the first companies to publicly establish environmental goals 19 years ago - has broadened its sustainability commitments beyond internal footprint reduction to include market-driven targets for both revenue and research and development investment. The goals are tied directly to business growth, specifically to the development of safer and environmentally improved new products for key global markets.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Saturday, January 31, 2009
Chinese Solar Company Goes Public Via Reverse Merger With Blackhawk Financial
CARDIFF, Calif., Jan. 29 /PRNewswire-FirstCall/ -- Blackhawk Financial, Inc., (Pink Sheets: BLWK) is providing this update to its shareholders in response to the numerous questions received since the recently announced acquisition by http://www.winsaint.com/eindex.html China Winsaint Solar ("Winsaint"). Blackhawk Financial was used as a public entity in order for Winsaint to go public via the OTC market and The Definitive Agreement has been signed. Any and all current shareholders of BLWK shares will now own and become shareholders of Winsaint. Any and all future investors that choose to buy BLWK shares in the open market prior to our name and symbol change will also own shares equally in Winsaint.
This is great news for shareholders of BLWK, due to the fact that the value of Winsaint greatly exceeds the value of Blackhawk Financial, Inc. Winsaint posted unaudited revenue of $46,000,000 with earnings of $3,900,000 this past year, with 2009 revenue expected to reach $90,000,000 with earnings of $15,000,000.
Winsaint manufactures high-end mono-crystalline solar wafers for customers inside and outside China. The company has established a solid base of recurring revenues and is now focused on expanding production by offering poly-crystalline solar wafers, a lower-end product with broad applications.
According to data from 2008 China Solar grade Wafer or Ingot Industry Research Report; in 2007 China solar wafer shipments were up 146.8% from 2006. In 2008 wafer shipments increase 99.4% and are expected to maintain double digit levels of growth in the coming years.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
This is great news for shareholders of BLWK, due to the fact that the value of Winsaint greatly exceeds the value of Blackhawk Financial, Inc. Winsaint posted unaudited revenue of $46,000,000 with earnings of $3,900,000 this past year, with 2009 revenue expected to reach $90,000,000 with earnings of $15,000,000.
Winsaint manufactures high-end mono-crystalline solar wafers for customers inside and outside China. The company has established a solid base of recurring revenues and is now focused on expanding production by offering poly-crystalline solar wafers, a lower-end product with broad applications.
According to data from 2008 China Solar grade Wafer or Ingot Industry Research Report; in 2007 China solar wafer shipments were up 146.8% from 2006. In 2008 wafer shipments increase 99.4% and are expected to maintain double digit levels of growth in the coming years.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
Trina Solar Signs Sales Agreement With GA Solar
CHANGZHOU, China, Jan. 29 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("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 that its subsidiary, Changzhou Trina Solar Energy Co., Ltd., entered into a sales agreement with Spanish customer Gestamp Asetym Solar, S.L. ("GA Solar"). The agreement was signed during the recent World Future Energy Summit 2009 in Abu Dhabi, held on January 19-21.
Under the terms of this agreement, Trina Solar will supply GA Solar between 20 to 36 MW of PV modules for one year at pre-determined prices. Shipments under this agreement have recently been initiated.
"We are excited to have entered into this sales agreement which affirms our successful long-term supply partnership with GA Solar in the past," stated Mr. Arturo Herrero, Vice-President of Sales & Marketing of Trina Solar. "GA Solar's plan to implement new solar projects in markets such as Italy, Greece, the United States and the Middle East will be supported by their parent company's presence in over twenty countries, and we believe that our experience in working with PV system integrators can play an important part in GA\'s expansion plan."
"This agreement reinforces and confirms the strategic alliance between both companies," declared Mr. Jose Maria Rodriguez Paraja, Strategic Development Director of GA Solar. "This association assures a high quality technical solution that will enable us to successfully approach diverse PV markets worldwide, thereby assuring our needed requirements are fulfilled in terms of reliability, competitiveness and excellence proven by Trina Solar in our recent years of partnership."
Under the terms of this agreement, Trina Solar will supply GA Solar between 20 to 36 MW of PV modules for one year at pre-determined prices. Shipments under this agreement have recently been initiated.
"We are excited to have entered into this sales agreement which affirms our successful long-term supply partnership with GA Solar in the past," stated Mr. Arturo Herrero, Vice-President of Sales & Marketing of Trina Solar. "GA Solar's plan to implement new solar projects in markets such as Italy, Greece, the United States and the Middle East will be supported by their parent company's presence in over twenty countries, and we believe that our experience in working with PV system integrators can play an important part in GA\'s expansion plan."
"This agreement reinforces and confirms the strategic alliance between both companies," declared Mr. Jose Maria Rodriguez Paraja, Strategic Development Director of GA Solar. "This association assures a high quality technical solution that will enable us to successfully approach diverse PV markets worldwide, thereby assuring our needed requirements are fulfilled in terms of reliability, competitiveness and excellence proven by Trina Solar in our recent years of partnership."
California ISO Symposium Sheds New Light on Integrating Solar Power
FOLSOM, Calif.--(BUSINESS WIRE)--The California Independent System Operator Corporation (California ISO) hosted an international symposium at its Folsom headquarters to learn more about how to reduce barriers for solar power projects hoping to compete in the ISO energy markets. The gathering of more than 175 participants, many in person and others via phone and webcast, focused on better production forecasting for large solar power plants.
“Solar power is fast becoming a viable competitor to conventional power plants,” said ISO Senior Policy Issues Representative Jim Blatchford. “We learned from the wind industry that good forecasting makes it much easier to manage the ups and downs of wind production. We want to apply that same lesson to solar generation.”
Blatchford notes, however, that forecasting the sun is different than forecasting the wind. “Some of the tools will be the same, but there will be some significant differences, too. This symposium is helping us identify and develop the right forecasting tools before several thousand megawatts of new solar production come on line.”
One participant at the solar symposium, BrightSource Energy based in Oakland California, plans to develop more than 4,000 megawatts of solar thermal generation in California and Nevada. “The Mohave Desert is one of the best places in the world for solar thermal power,” said Senior Director of Transmission Bob Stuart. “There is an immense capacity there. And we’re very pleased the ISO convened this meeting because the end result should be a better understanding for all of us how solar power can participate and compete in California.”
The California ISO is committed to helping the state meets its’ Renewables Portfolio Standard (RPS). The current goal of 20 percent will likely be increased to 33 percent. That is driving a large expansion of wind, solar and other renewable power resources. Wind and solar are intermittent resources, meaning electricity production can vary with the weather.
The California ISO is responsible for keeping the supply in constant balance with the demand for electricity. Demand constantly fluctuates with the weather, the time of day, the season and many other variables. California ISO systems read the grid every four seconds and adjust the energy supply to keep pace with demand. With more wind and solar coming on line, the supply side will also fluctuate. Accurate and timely forecasts of power production from these intermittent generators can help reduce the impact on grid operations.
“We learned a lot from this symposium,” said Grant Rosenblum, manager of renewable integration at the California ISO. “There are several distinct types of solar generation and each one has different operating and forecasting characteristics. We need to allow for those differences as we work to accommodate more solar and more renewables in general.”
The California ISO is a not-for-profit public benefit corporation charged with managing the flow of electricity along California’s open-market wholesale power grid. The mission of the California ISO is to safeguard the reliable delivery of electricity, and ensure equal access to 25,000 circuit miles of “electron highway.” As the impartial operator of the wholesale power grid in the state, the California ISO conducts a small portion of the bulk power markets. These markets are used to allocate space on the transmission lines, maintain operating reserves and match supply with demand in real time.
“Solar power is fast becoming a viable competitor to conventional power plants,” said ISO Senior Policy Issues Representative Jim Blatchford. “We learned from the wind industry that good forecasting makes it much easier to manage the ups and downs of wind production. We want to apply that same lesson to solar generation.”
Blatchford notes, however, that forecasting the sun is different than forecasting the wind. “Some of the tools will be the same, but there will be some significant differences, too. This symposium is helping us identify and develop the right forecasting tools before several thousand megawatts of new solar production come on line.”
One participant at the solar symposium, BrightSource Energy based in Oakland California, plans to develop more than 4,000 megawatts of solar thermal generation in California and Nevada. “The Mohave Desert is one of the best places in the world for solar thermal power,” said Senior Director of Transmission Bob Stuart. “There is an immense capacity there. And we’re very pleased the ISO convened this meeting because the end result should be a better understanding for all of us how solar power can participate and compete in California.”
The California ISO is committed to helping the state meets its’ Renewables Portfolio Standard (RPS). The current goal of 20 percent will likely be increased to 33 percent. That is driving a large expansion of wind, solar and other renewable power resources. Wind and solar are intermittent resources, meaning electricity production can vary with the weather.
The California ISO is responsible for keeping the supply in constant balance with the demand for electricity. Demand constantly fluctuates with the weather, the time of day, the season and many other variables. California ISO systems read the grid every four seconds and adjust the energy supply to keep pace with demand. With more wind and solar coming on line, the supply side will also fluctuate. Accurate and timely forecasts of power production from these intermittent generators can help reduce the impact on grid operations.
“We learned a lot from this symposium,” said Grant Rosenblum, manager of renewable integration at the California ISO. “There are several distinct types of solar generation and each one has different operating and forecasting characteristics. We need to allow for those differences as we work to accommodate more solar and more renewables in general.”
The California ISO is a not-for-profit public benefit corporation charged with managing the flow of electricity along California’s open-market wholesale power grid. The mission of the California ISO is to safeguard the reliable delivery of electricity, and ensure equal access to 25,000 circuit miles of “electron highway.” As the impartial operator of the wholesale power grid in the state, the California ISO conducts a small portion of the bulk power markets. These markets are used to allocate space on the transmission lines, maintain operating reserves and match supply with demand in real time.
Friday, January 30, 2009
Solar Power, Inc. Receives Follow-on Order from German Solar Integrator
ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI”) (OTCBB:SOPW), a vertically integrated designer, manufacturer, and installer of photovoltaic (“PV”) energy systems announced today that it has received an additional order from a German solar integrator for the company’s 200-watt solar modules. On January 6th, SPI announced that an initial supply of the modules was shipped to the integrator during December, 2008. The initial product supply was well received from a quality and performance perspective, forming the basis for the order now in place.
“This order is significant as SPI continues to aggressively develop inroads into the European market,” said Bradley Ferrell, President of SPI’s Commercial Sales Division. “Our customer was obviously very happy with the performance and quality of our products in their initial trials, and has elected to engage with us on an ongoing basis. We believe our recent IEC certification and this order provide validation for our global sales, marketing and product development strategies. As a leading manufacturer and supplier in the world market for PV energy systems, we also believe our product quality and innovations, uniquely position us to continue to build global market share,” Mr. Ferrell concluded.
Product innovations and a growing body of well known commercial clientele continue to distinguish SPI. In 2007, SPI introduced its minimal or non-penetrating SkyMountTM commercial racking system for commercial roof-mounted arrays. SkyMount was most recently used at The STAPLES Center and the Nokia Theatre Live in Los Angeles, enabling the installation of more than 2,500 solar modules in just one week. SPI’s Peaq´TM elevated solar array systems, introduced earlier this month, now provides commercial enterprises with a means to significantly extend the footprint available to them for PV solar arrays in order to meet both financial and energy generation goals, while providing customers protection from heat and inclement weather.
“This order is significant as SPI continues to aggressively develop inroads into the European market,” said Bradley Ferrell, President of SPI’s Commercial Sales Division. “Our customer was obviously very happy with the performance and quality of our products in their initial trials, and has elected to engage with us on an ongoing basis. We believe our recent IEC certification and this order provide validation for our global sales, marketing and product development strategies. As a leading manufacturer and supplier in the world market for PV energy systems, we also believe our product quality and innovations, uniquely position us to continue to build global market share,” Mr. Ferrell concluded.
Product innovations and a growing body of well known commercial clientele continue to distinguish SPI. In 2007, SPI introduced its minimal or non-penetrating SkyMountTM commercial racking system for commercial roof-mounted arrays. SkyMount was most recently used at The STAPLES Center and the Nokia Theatre Live in Los Angeles, enabling the installation of more than 2,500 solar modules in just one week. SPI’s Peaq´TM elevated solar array systems, introduced earlier this month, now provides commercial enterprises with a means to significantly extend the footprint available to them for PV solar arrays in order to meet both financial and energy generation goals, while providing customers protection from heat and inclement weather.
McCormick and Constellation Energy Celebrate Completion of Solar Power Installation
HUNT VALLEY, Md.--(BUSINESS WIRE)--Representatives from McCormick and Company, Inc. [NYSE:MKC], Constellation Energy [NYSE:CEG] and state and local government joined together recently to recognize the completion of one of the largest solar power installations in Maryland.
A celebration was held in McCormick’s Hunt Valley Distribution Center on January 21 to recognize the completion of a project that brought solar power to the roofs of that building and the adjacent McCormick Spice Mill. The project was performed by Constellation Energy’s Projects & Services Group and resulted in the installation of 2,100 Solar World 175 watt crystalline solar panels and 92,000 square feet of lightweight, flexible thin-film photovoltaic material. The system is expected to generate approximately one megawatt of electricity supplying energy equivalent to the electricity used by about 110 homes in a year. It is estimated that McCormick’s electricity costs for these buildings will be reduced by approximately 30 percent in the first year alone, and the electricity produced by the system will reduce greenhouse gas emissions equivalent to removing about 150 vehicles from the road annually.
“We at McCormick are excited by this project because it is one of our most visible sustainability projects to date, but I’m proud to say that our commitment to the environment goes back many, many years,” said McCormick President and CEO Alan Wilson. “These solar panels provide renewable energy, reduce greenhouse gases within the community and provide McCormick with energy cost savings -- the classic win-win. We are an agriculturally-based business and are mindful of the environment and take measures to preserve and protect those resources.”
Greg Jarosinski, president and CEO of Constellation Energy’s Projects and Services Group, also offered remarks at the celebration.
“This project is an example of the right forces coming together at the right time to address the issues of energy and environment, and doing it in a way that makes economic sense,” Jarosinski remarked.
Others who addressed the gathering included Malcolm Woolf, Director of the Maryland Energy Administration; David Iannucci, Executive Director of the Baltimore County Department of Economic Development, and David Carroll, Director of the Baltimore County Office of Sustainability.
A celebration was held in McCormick’s Hunt Valley Distribution Center on January 21 to recognize the completion of a project that brought solar power to the roofs of that building and the adjacent McCormick Spice Mill. The project was performed by Constellation Energy’s Projects & Services Group and resulted in the installation of 2,100 Solar World 175 watt crystalline solar panels and 92,000 square feet of lightweight, flexible thin-film photovoltaic material. The system is expected to generate approximately one megawatt of electricity supplying energy equivalent to the electricity used by about 110 homes in a year. It is estimated that McCormick’s electricity costs for these buildings will be reduced by approximately 30 percent in the first year alone, and the electricity produced by the system will reduce greenhouse gas emissions equivalent to removing about 150 vehicles from the road annually.
“We at McCormick are excited by this project because it is one of our most visible sustainability projects to date, but I’m proud to say that our commitment to the environment goes back many, many years,” said McCormick President and CEO Alan Wilson. “These solar panels provide renewable energy, reduce greenhouse gases within the community and provide McCormick with energy cost savings -- the classic win-win. We are an agriculturally-based business and are mindful of the environment and take measures to preserve and protect those resources.”
Greg Jarosinski, president and CEO of Constellation Energy’s Projects and Services Group, also offered remarks at the celebration.
“This project is an example of the right forces coming together at the right time to address the issues of energy and environment, and doing it in a way that makes economic sense,” Jarosinski remarked.
Others who addressed the gathering included Malcolm Woolf, Director of the Maryland Energy Administration; David Iannucci, Executive Director of the Baltimore County Department of Economic Development, and David Carroll, Director of the Baltimore County Office of Sustainability.
Entech Solar Appoints Sean Rooney as Chief Operating Officer
FORT WORTH, Texas--(BUSINESS WIRE)--Entech Solar (OTCBB:ENSL.OB), a leader in concentrating solar energy systems, announced today that Sean Rooney has been named Chief Operating Officer for the Company.
Mr. Rooney joined Entech Solar in February 2008 as Vice President of the Company’s EPC (Engineering, Procurement, and Construction) Operations. Since then, he has implemented a new model for project management which has resulted in over five megawatts of solar projects being completed on schedule with high customer satisfaction. With the Company’s shift in strategy away from flat-plate projects to the production and installation of Entech’s proprietary concentrating solar systems, Mr. Rooney’s role has been expanded to include all manufacturing operations as well as its EPC business. His successful turnaround of the Company’s EPC installations made Mr. Rooney the ideal candidate to address the challenges facing Entech’s manufacturing operations.
“Although our engineering team has made progress in addressing the process and supply-chain issues discussed on the Company’s third quarter earnings conference call, the factory is not yet producing product suitable for certification,” stated Frank Smith, Entech Solar CEO. “Sean will bring the same sense of urgency, purpose, and discipline to our manufacturing challenges that he provided to our EPC projects at Fresno, Denver, Valley Center, and Ocean City. This appointment is part of the ongoing transformation of Entech from a research and development organization to a vertically integrated, product-driven, manufacturer and installer of advanced concentrating solar systems. Once we have established our manufacturing capability and achieved certification, we will have two channels to market – product sales to other integrators and management of our own EPC projects that incorporate Entech modules. Sean will have responsibility for the operations portion of our vertically integrated value chain.”
Mr. Rooney added, “I am very pleased to take on this critically important responsibility for the Company. Following my recent relocation from New Jersey to Texas, I am eager to provide leadership to our manufacturing operations.”
The Company is also augmenting its manufacturing team with additional personnel and training. Entech Solar has retained experts and is training existing staff in Six Sigma methodology to address process and supply-chain issues in a systematic, data-driven approach, employing best-in-class practices. Both of these developments support Entech Solar’s dedication to commercializing its concentrating solar ThermaVolt™ system.
Mr. Rooney joined Entech Solar in February 2008 as Vice President of the Company’s EPC (Engineering, Procurement, and Construction) Operations. Since then, he has implemented a new model for project management which has resulted in over five megawatts of solar projects being completed on schedule with high customer satisfaction. With the Company’s shift in strategy away from flat-plate projects to the production and installation of Entech’s proprietary concentrating solar systems, Mr. Rooney’s role has been expanded to include all manufacturing operations as well as its EPC business. His successful turnaround of the Company’s EPC installations made Mr. Rooney the ideal candidate to address the challenges facing Entech’s manufacturing operations.
“Although our engineering team has made progress in addressing the process and supply-chain issues discussed on the Company’s third quarter earnings conference call, the factory is not yet producing product suitable for certification,” stated Frank Smith, Entech Solar CEO. “Sean will bring the same sense of urgency, purpose, and discipline to our manufacturing challenges that he provided to our EPC projects at Fresno, Denver, Valley Center, and Ocean City. This appointment is part of the ongoing transformation of Entech from a research and development organization to a vertically integrated, product-driven, manufacturer and installer of advanced concentrating solar systems. Once we have established our manufacturing capability and achieved certification, we will have two channels to market – product sales to other integrators and management of our own EPC projects that incorporate Entech modules. Sean will have responsibility for the operations portion of our vertically integrated value chain.”
Mr. Rooney added, “I am very pleased to take on this critically important responsibility for the Company. Following my recent relocation from New Jersey to Texas, I am eager to provide leadership to our manufacturing operations.”
The Company is also augmenting its manufacturing team with additional personnel and training. Entech Solar has retained experts and is training existing staff in Six Sigma methodology to address process and supply-chain issues in a systematic, data-driven approach, employing best-in-class practices. Both of these developments support Entech Solar’s dedication to commercializing its concentrating solar ThermaVolt™ system.
Wednesday, January 28, 2009
Hoku Scientific, Inc. Reports Third Quarter Fiscal Year 2009 Results
HONOLULU, HI--(Marketwire - January 28, 2009) - Hoku Scientific, Inc. (
Financial Results
Revenue for the quarters ended December 31, 2008 and 2007 was $767,000 and $1.3 million, respectively, derived primarily from photovoltaic, or PV, system installation contracts. As of December 31, 2008 and March 31, 2008, deferred revenue of $12,000 and $36,000, respectively, was attributable to PV system installation projects and related service contracts.
Net loss, computed in accordance with U.S. generally accepted accounting principles, or GAAP, for the quarter ended December 31, 2008 was $863,000, or $0.04 per diluted share, compared to $538,000, or $0.03 per diluted share, for the same period in fiscal 2008.
Non-GAAP net loss for the quarter ended December 31, 2008 was $646,000, or $0.03 per diluted share, compared to $274,000, or $0.01 per diluted share, for the same period in fiscal 2008. Non-GAAP net loss for the quarters ended December 31, 2008 and 2007 excludes non-cash stock-based compensation of $217,000 and $264,000, respectively. The accompanying schedules provide a reconciliation of net loss per share computed on a GAAP basis to net loss per share computed on a non-GAAP basis.
Dustin Shindo, chairman, president and chief executive officer of Hoku Scientific, said, "Broader economic conditions had some effect on our PV system installation business during the third quarter of fiscal 2009 and are expected to continue to affect our sales in the quarter to come. However, in terms of aggregate capacity, we expect to install more than 1.4 megawatts of PV systems in fiscal 2009, compared to approximately 0.2 megawatts in fiscal 2008."
Mr. Shindo continued, "Regarding the financing for our power purchase agreements with the State of Hawaii Department of Transportation, we had previously expected to sell our turnkey PV systems directly to a third-party investor, who would have also assumed ownership of the associated power purchase agreements. Instead, we elected to enter into a joint venture with UFA Renewable Fund I, LLC to finance the design and installation of these PV systems. This approach remains consistent with our cash management strategy for the construction of our polysilicon production facility, and allows us to participate in the cash flows from the sale of power to DOT over the twenty-year duration of the PPAs. However, it does not allow us to recognize revenue from the sale of these PV systems. As a result, we now expect to recognize approximately $5 million in revenues in fiscal 2009."
"Despite this revision to our fiscal 2009 revenue guidance, we are pleased with these results," Mr. Shindo concluded. "We are proud to have successfully secured PPA financing for the Hawaii State government's first major solar power installation, despite notable turbulence in the finance markets. And, we are pleased with our continued progress in our solar installation business. We have dramatically increased the aggregate amount of PV installed compared to FY 2008, and are beginning to see a backlog of projects in the design phase for future construction."
Business Updates
Hoku Materials Polysilicon Plant Update
Commenting on the Company's polysilicon subsidiary, Hoku Materials, Inc., Mr. Shindo said, "We continued to make significant progress on the construction of our polysilicon production facility, finishing the calendar year on schedule."
The Company reported that construction efforts during the past quarter had been focused on preparing the reactor building for the arrival of the first shipment of reactors, and on completing the required components for demonstration testing and early-stage production, including the vent gas recovery system and key infrastructure, such as electric power. The Company has already taken delivery of the first six reactors, and expects the remaining ten from the first order to arrive in the first half of calendar year 2009. The second order of twelve reactors is expected to arrive in Pocatello beginning in the second half of calendar year 2009.
"We continue actively working to mitigate the impact of delayed customer prepayments, but now expect that this may result in a shift of our planned production demonstration from the first quarter of calendar year 2009 to the second quarter of calendar year 2009," Mr. Shindo said. "Looking ahead, this may also cause us to shift our planned first commercial shipment from the first half of 2009 to the second half of 2009. As before, we plan to ramp-up production throughout the second half of calendar year 2009 and into calendar year 2010, when we expect to reach full production capability. We expect this revised schedule will still allow us to meet all delivery obligations to our current customers, and we will continue managing our project to ensure this remains the case."
Mr. Shindo concluded, "Viewed in terms of market conditions and expected customer prepayments, this has been a challenging quarter. However, we have taken a proactive approach to managing these challenges: adjusting capital expenditures where required; amending customer agreements when necessary; and developing a number of viable contingency financing strategies to resolve the current funding shortfall. As a result, we continue to make progress on our polysilicon project and fully expect to meet our contractual commitments to our customers."
Polysilicon Plant Financing Update
Hoku Materials continues to estimate that it will cost approximately $390 million to engineer, procure and construct its polysilicon production plant, and does not believe it will need to procure any additional equipment to increase the original planned production from 3,500 to 4,000 metric tons.
Hoku had received $98.5 million in prepayment deposits from its current customers as of December 31, 2008, and in January 2009, received subsequent prepayments from Jinko Solar in the amount of $7.5 million, for a total of $106 million received to date. As of December 31, 2008, the construction-in-progress for the project was $140.2 million.
Hoku had previously confirmed that Wealthy Rise International, Ltd. (Solargiga) had failed to make prepayment deposits in the aggregate amount of $43 million, which, according to the terms of its contract, are past due. Hoku reported that the two companies remained in discussions to resolve the late payments, and that it expects to either amend its contract with Solargiga, or terminate the sales agreement altogether. In the event Hoku terminates the Solargiga agreement, Hoku expects to supplement the unmet prepayment commitments by reselling the polysilicon capacity to other current or future customers.
Notwithstanding Solargiga's current default, Hoku plans to fund the project cost through a combination of customer prepayment commitments, cash generated through operating activities, and through one or more additional financing strategies.
"To replace unmet and revised customer prepayment commitments, we are actively working to reallocate Solargiga production capacity and recaptured Jinko Solar capacity, and we have seen a marked uptick recently in new business inquiries," said Dustin Shindo. "And, while current market conditions are certainly not favorable for financing, our shelf registration statement remains active, so we have additional flexibility, should the markets improve over the coming quarters."
If required, Hoku has said it has the ability to defer some of its planned capital expenditure by delaying the construction of its trichlorosilane (TCS) production facility and purchasing TCS on a contract basis from a North American supplier. The Company has also reported that additional capital expenditure reductions may be possible by further delaying the arrival of additional reactors, while still ensuring enough production capacity to fulfill its current contractual obligations.
Mr. Shindo commented: "With the ongoing support of our customers and partners -- especially our project engineers, contractors and equipment providers -- we have successfully navigated a challenging quarter and look forward to resolving the current uncertainty regarding our contract with Solargiga. We also are increasingly optimistic about the outlook for establishing new polysilicon sales relationships."
Hoku Solar Update
The Company's wholly owned subsidiary, Hoku Solar, Inc., markets, sells and installs turnkey photovoltaic, or PV, power systems in Hawaii.
Commenting on Hoku Solar, Mr. Shindo said, "We continued to build our Hawaii-focused PV installation business during the past quarter, completing the installation of nearly 40 kilowatts of clean solar power for Xcel International (Billabong) and initiating the installation of the first two of seven projects for the State of Hawaii Department of Transportation, Airports Division (DOTA). We also successfully secured the financing for the DOTA projects by establishing a joint venture with U.S. Bancorp and United Fund Advisors."
Mr. Shindo continued, "During the upcoming quarter, Hoku Solar expects to complete the installation of all seven airport PV systems, and will focus on the financing and delivery of other pipeline PV integration projects."
Summary
"In summary, like many companies, we have been affected by the adverse macroeconomic conditions over the past quarter. However, we have been able to mitigate the long-term impacts through careful planning and conservative cash management," said Mr. Shindo. "Importantly, we believe Hoku Materials remains well-positioned for on-time delivery of polysilicon to our current customers. We have financing options, flexibility in our project CAPEX model and the continued, invaluable support of our customers and our project team -- including our engineering and construction partners, and our key equipment suppliers."
Mr. Shindo continued, "In Hawaii, Hoku Solar is in the process of completing the largest PV installation to date for the State government, so we continue to see good results from our ongoing efforts to grow our PV systems installation business."
"Thus, in both our solar installation and polysilicon businesses, a combination of strong partnerships, strategic planning and proactive management has allowed us to continue making progress, despite very challenging external market conditions. We are pleased by the results of this approach and expect to continue building momentum throughout 2009," concluded Mr. Shindo.
Worldwide Energy and Manufacturing Applies for NASDAQ Capital Market Listing
SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(Marketwire - January 28, 2009) - Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU), a U.S.-based China manufacturer specializing in the manufacturing and distribution of solar modules in the commercial sector, today announced that it has filed an application to have its common stock listed on the NASDAQ Capital Market.
CEO Jimmy Wang stated: "We have worked very hard over the last four years to put our company in a position to qualify for a NASDAQ listing. Our contract manufacturing division and our solar division are experiencing double- and triple-digit earnings and revenue growth, respectively. We have spent considerable time meeting with officials at the NASDAQ over the last 12 months, and we strongly believe this is the right time to take this significant step and apply for a listing on the NASDAQ. We also believe that a listing on NASDAQ will make it less difficult for retail brokers to build long-term positions in our stock and thus will contribute to producing more liquidity in the stock."
CEO Jimmy Wang stated: "We have worked very hard over the last four years to put our company in a position to qualify for a NASDAQ listing. Our contract manufacturing division and our solar division are experiencing double- and triple-digit earnings and revenue growth, respectively. We have spent considerable time meeting with officials at the NASDAQ over the last 12 months, and we strongly believe this is the right time to take this significant step and apply for a listing on the NASDAQ. We also believe that a listing on NASDAQ will make it less difficult for retail brokers to build long-term positions in our stock and thus will contribute to producing more liquidity in the stock."
Sustainable Builder Cuts CO2 Emissions With Solar Photovoltaic System
REDWOOD CITY, CA--(Marketwire - January 28, 2009) - As part of Rudolph and Sletten, Inc.'s continued commitment to sustainability, the company announced today the installation of its new solar photovoltaic system at its Irvine, California office. The photovoltaic panels which cover the roof operate like a miniature power plant converting the sun's rays into electric energy. The 50-kilowatt system reduces Rudolph and Sletten's reliance on conventional electricity at the office by 25%. This installation of "green" technology will pay for itself in just over ten years.
"As a leader in sustainable construction, we find it imperative to practice our own philosophies," says Martin Sisemore, CEO and President of Rudolph and Sletten. "Our corporate offices are LEED Gold Certified, our fleet is comprised of hybrid vehicles and we are requiring our managers to become LEED accredited, 180 already have." Sisemore continues, "We are always looking for ways to reduce our carbon footprint, and installing solar photovoltaic panels is a logical and viable option."
Over the 30-year-life of the photovoltaic system, Rudolph and Sletten's Irvine office will reduce their carbon emissions by more than 1,594 tons, the equivalent of planting 37,067 trees, removing 271 cars from the road, or not taking 1,547 round trips flights between San Francisco and New York.
Rudolph and Sletten owns its Irvine office. Its other California offices are leased and thus not under consideration for the same installation projects.
"As a leader in sustainable construction, we find it imperative to practice our own philosophies," says Martin Sisemore, CEO and President of Rudolph and Sletten. "Our corporate offices are LEED Gold Certified, our fleet is comprised of hybrid vehicles and we are requiring our managers to become LEED accredited, 180 already have." Sisemore continues, "We are always looking for ways to reduce our carbon footprint, and installing solar photovoltaic panels is a logical and viable option."
Over the 30-year-life of the photovoltaic system, Rudolph and Sletten's Irvine office will reduce their carbon emissions by more than 1,594 tons, the equivalent of planting 37,067 trees, removing 271 cars from the road, or not taking 1,547 round trips flights between San Francisco and New York.
Rudolph and Sletten owns its Irvine office. Its other California offices are leased and thus not under consideration for the same installation projects.
Ascent Solar Receives Governor’s Excellence in Renewable Energy Award
LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state of the art flexible thin-film solar modules, announced today the company has received the 2008 Governor’s Excellence in Renewable Energy (GERE) Award for the Large Business category.
The second annual “Governor’s Excellence in Renewable Energy Awards” recognizes individuals, businesses, institutions and nonprofits that are advancing renewable energy in outstanding ways in Colorado, announced The Governor’s Energy Office (GEO).
The awards were created to honor outstanding contributions that provide clean power through the promotion, usage, implementation and technology development of renewable energy in Colorado.
“Congratulations to Ascent Solar for their tremendous progress and innovation in advancing solar technologies,” said Gov. Ritter. “Colorado’s New Energy Economy is recognized as a leader thanks to Ascent Solar, which is helping to grow clean energy solutions and good jobs for our state and country.”
“Ascent Solar is extremely proud and honored to receive this prestigious award from Governor Ritter. Our team has worked very hard and faced many challenges over the years developing and expanding our business to create innovative solar products. Our goal is to bring our thin film solar products to the market as we commercialize our 1.5 MW line in Littleton and our 30 MW line under construction in Thornton,” stated Dr. Mohan Misra, Chairman and CEO of Ascent Solar.
The second annual “Governor’s Excellence in Renewable Energy Awards” recognizes individuals, businesses, institutions and nonprofits that are advancing renewable energy in outstanding ways in Colorado, announced The Governor’s Energy Office (GEO).
The awards were created to honor outstanding contributions that provide clean power through the promotion, usage, implementation and technology development of renewable energy in Colorado.
“Congratulations to Ascent Solar for their tremendous progress and innovation in advancing solar technologies,” said Gov. Ritter. “Colorado’s New Energy Economy is recognized as a leader thanks to Ascent Solar, which is helping to grow clean energy solutions and good jobs for our state and country.”
“Ascent Solar is extremely proud and honored to receive this prestigious award from Governor Ritter. Our team has worked very hard and faced many challenges over the years developing and expanding our business to create innovative solar products. Our goal is to bring our thin film solar products to the market as we commercialize our 1.5 MW line in Littleton and our 30 MW line under construction in Thornton,” stated Dr. Mohan Misra, Chairman and CEO of Ascent Solar.
TEP Provides Solar Power, Energy Efficiency to “Extreme Makeover” Home
TUCSON, Ariz.--(BUSINESS WIRE)--Tucson Electric Power (TEP) is donating photovoltaic panels and a solar water heating system to a house being built in Tucson by ABC-TV’s “Extreme Makeover: Home Edition” program.
The Foothills-area house will be a TEP Guarantee Home, built to maximize energy efficiency. Because the show aims to rebuild an entire home in just seven days, TEP Guarantee Home inspectors will be available around the clock to ensure that the program’s exacting standards are met throughout the construction process.
“Our partnership with ‘Extreme Makeover: Home Edition’ offers a great opportunity to promote the environmental benefits of energy conservation and renewable power,” said Philip J. Dion, Vice President of Legal and Environmental Services for TEP and its parent company, UniSource Energy (NYSE: UNS).
The combined energy output of the six-kilowatt (kW) photovoltaic system and the solar water heater would just about cover the annual electric needs of a typical Tucson home. That renewable power will go even further in a TEP Guarantee Home that features a custom airflow design, tight insulation and other features that promote energy efficiency.
“The energy efficient features of TEP Guarantee Homes can help homeowners make the most of their solar power systems,” Dion said. “It’s a powerful combination that can significantly reduce energy costs while providing real benefits for our environment.”
TEP’s SunShare program provides rebates of up to $3,000 per kW of installed DC-rated capacity to help reduce the up-front cost of solar energy systems like the 6-kW array featured in the “Extreme Makeover: Home Edition” project. TEP also offers rebates of up to $1,750 for solar water heaters. For more information, visit the “Green Energy” section of tep.com.
TEP’s Guarantee Home program works with Tucson’s leading builders to develop homes that deliver significant energy savings. Buyers of TEP Guarantee Homes receive a special low electric rate and a five-year written Heating/Cooling and Comfort Guarantee. They also enjoy a healthy home with balanced air pressure designed to keep out unwanted moisture, toxins and allergens.
SunShare rebates and TEP Guarantee Homes are part of TEP’s Bright Solutions, a portfolio of programs and services designed to protect our environment and support our community. For more information about Bright Solutions, visit tep.com.
For more information about “Extreme Makeover: Home Edition” and its Tucson project, visit extrememakeovertucson.com.
Tucson Electric Power, a subsidiary of UniSource Energy, provides safe, reliable power and a variety of green energy options to nearly 400,000 customers in the Tucson metropolitan area. For more information, visit tep.com. For more information about UniSource Energy, visit uns.com.
The Foothills-area house will be a TEP Guarantee Home, built to maximize energy efficiency. Because the show aims to rebuild an entire home in just seven days, TEP Guarantee Home inspectors will be available around the clock to ensure that the program’s exacting standards are met throughout the construction process.
“Our partnership with ‘Extreme Makeover: Home Edition’ offers a great opportunity to promote the environmental benefits of energy conservation and renewable power,” said Philip J. Dion, Vice President of Legal and Environmental Services for TEP and its parent company, UniSource Energy (NYSE: UNS).
The combined energy output of the six-kilowatt (kW) photovoltaic system and the solar water heater would just about cover the annual electric needs of a typical Tucson home. That renewable power will go even further in a TEP Guarantee Home that features a custom airflow design, tight insulation and other features that promote energy efficiency.
“The energy efficient features of TEP Guarantee Homes can help homeowners make the most of their solar power systems,” Dion said. “It’s a powerful combination that can significantly reduce energy costs while providing real benefits for our environment.”
TEP’s SunShare program provides rebates of up to $3,000 per kW of installed DC-rated capacity to help reduce the up-front cost of solar energy systems like the 6-kW array featured in the “Extreme Makeover: Home Edition” project. TEP also offers rebates of up to $1,750 for solar water heaters. For more information, visit the “Green Energy” section of tep.com.
TEP’s Guarantee Home program works with Tucson’s leading builders to develop homes that deliver significant energy savings. Buyers of TEP Guarantee Homes receive a special low electric rate and a five-year written Heating/Cooling and Comfort Guarantee. They also enjoy a healthy home with balanced air pressure designed to keep out unwanted moisture, toxins and allergens.
SunShare rebates and TEP Guarantee Homes are part of TEP’s Bright Solutions, a portfolio of programs and services designed to protect our environment and support our community. For more information about Bright Solutions, visit tep.com.
For more information about “Extreme Makeover: Home Edition” and its Tucson project, visit extrememakeovertucson.com.
Tucson Electric Power, a subsidiary of UniSource Energy, provides safe, reliable power and a variety of green energy options to nearly 400,000 customers in the Tucson metropolitan area. For more information, visit tep.com. For more information about UniSource Energy, visit uns.com.
Entech Solar Announces New Ticker Symbol
FORT WORTH, Texas--(BUSINESS WIRE)--Entech Solar (OTC BB: WWAT.OB), a leader in concentrating solar energy systems, today announced that the Company’s ticker symbol will change to ENSL.OB from WWAT.OB, effective January 28, 2009. This follows the Company’s recent name change, reflecting its commitment to commercializing Entech’s proprietary ThermaVolt™ system. Entech Solar will continue to trade on the over-the-counter (OTC) Bulletin Board under the new ticker.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems. Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications. Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy. For more information, please visit www.entechsolar.com.
About Entech Solar
Entech Solar is a leading provider of concentrating solar energy systems. Entech designs, manufactures and installs systems that provide both electricity and thermal energy for commercial and industrial applications. Entech uses its proprietary concentrating photovoltaic and thermal (CPVT) technology to deliver the ThermaVolt™ system, which produces cost-competitive distributed energy. For more information, please visit www.entechsolar.com.
enXco Signs Power Purchase Agreement with Carrier Clinic for Solar Array
ESCONDIDO, Calif.--(BUSINESS WIRE)--enXco, an EDF Energies Nouvelles Company, (PARIS: EEN) announced today the signing of a 25-year Power Purchase Agreement with Carrier Clinic, a not-for-profit behavioral healthcare system, located in Belle Mead, New Jersey. The agreement sets in motion the development of the solar photovoltaic array that could reach 1.9 megawatts when design is completed.
Under the agreement, enXco will own and operate the system and supply the project’s output to Carrier Clinic on a net-metering basis. enXco is scheduled to begin construction this spring and expects the project will produce energy in the second quarter of 2009.
The ground-mount fixed tilt solar array, utilizing First Solar modules deployed from EDF EN’s global supply agreement, will be constructed on 12 acres and will be the largest solar system on a New Jersey hospital campus. The project, co-developed by Clean Energy Holdings in association with Trinity Solar, will further qualify for New Jersey Renewable Energy Certificates which are essential to the economics of the project.
“enXco is pleased to deploy our solar development expertise with the Carrier Clinic and Clean Energy Holdings to provide clean, renewable energy for New Jersey” said Peter Solomon, senior manager distributed solar for enXco. “We are dedicated to helping New Jersey meet their renewable energy goals with this our fifth solar PV project built within a year in the state, and one of the first projects of 2009.”
C. Richard Sarle, CEO and president of Carrier Clinic, said “We are proud to be, at this time, the only hospital or behavioral health system in New Jersey with a ground-mount project of this scope. As we approach our 100th year anniversary, we remain committed to partnering with our community in an effort to meet the clean energy goals of the State of New Jersey. This photovoltaic array will provide reliable, economical and socially responsible energy to provide about 50% of the entire facility’s electrical services, which run 24 hours a day, 365 days a year.”
As the fastest growing market for solar photovoltaics in the U.S., New Jersey is also one of the largest in terms of installations, second only to California. New Jersey’s Renewable Portfolio Standard (RPS) requires that 22.5% of the state’s electricity will come from renewable sources by 2021 with 2.12% or 1,500 MW from solar – a goal that represents the nation’s largest solar commitment relative to population and electricity consumption.
Under the agreement, enXco will own and operate the system and supply the project’s output to Carrier Clinic on a net-metering basis. enXco is scheduled to begin construction this spring and expects the project will produce energy in the second quarter of 2009.
The ground-mount fixed tilt solar array, utilizing First Solar modules deployed from EDF EN’s global supply agreement, will be constructed on 12 acres and will be the largest solar system on a New Jersey hospital campus. The project, co-developed by Clean Energy Holdings in association with Trinity Solar, will further qualify for New Jersey Renewable Energy Certificates which are essential to the economics of the project.
“enXco is pleased to deploy our solar development expertise with the Carrier Clinic and Clean Energy Holdings to provide clean, renewable energy for New Jersey” said Peter Solomon, senior manager distributed solar for enXco. “We are dedicated to helping New Jersey meet their renewable energy goals with this our fifth solar PV project built within a year in the state, and one of the first projects of 2009.”
C. Richard Sarle, CEO and president of Carrier Clinic, said “We are proud to be, at this time, the only hospital or behavioral health system in New Jersey with a ground-mount project of this scope. As we approach our 100th year anniversary, we remain committed to partnering with our community in an effort to meet the clean energy goals of the State of New Jersey. This photovoltaic array will provide reliable, economical and socially responsible energy to provide about 50% of the entire facility’s electrical services, which run 24 hours a day, 365 days a year.”
As the fastest growing market for solar photovoltaics in the U.S., New Jersey is also one of the largest in terms of installations, second only to California. New Jersey’s Renewable Portfolio Standard (RPS) requires that 22.5% of the state’s electricity will come from renewable sources by 2021 with 2.12% or 1,500 MW from solar – a goal that represents the nation’s largest solar commitment relative to population and electricity consumption.
Tuesday, January 27, 2009
MMA Renewable Ventures Completes Its Solar Fund III
SAN FRANCISCO, Jan 27, 2009 /PRNewswire via COMTEX/ -- MMA Renewable Ventures, LLC, a subsidiary of Municipal Mortgage & Equity, LLC ("MuniMae") (Pink Sheets: MMAB) today announced that it has completed Solar Fund III, raising nearly $200 million to support the creation of new solar energy nationwide.
Through Solar Fund III, MMA Renewable Ventures successfully deployed 20.6 megawatts (MW) of new solar photovoltaic production capacity in the U.S. The company financed and completed -- and now owns and operates -- 20 new photovoltaic projects sited at governmental, retail, private and public sector locations, with third-party power purchase agreements. The company achieved this despite the challenging financial market and fluctuating energy prices in 2008.
"With the closing of Solar Fund III, we've confirmed that electricity customers in the U.S. are looking at the long term, and have identified clean, predictably-priced energy from the sun as an operational fit that makes sense," said Matt Cheney, CEO of MMA Renewable Ventures.
"We are well- positioned to meet the growing demand for solar. Thanks to our strong team and outstanding partners, we're able to negotiate deals and secure supply. Our excellent relationships -- with integrators, suppliers, and premier financial institutions that are making tax-advantaged investments -- enable us to complete projects quickly and successfully. Renewable energy, in particular solar, has proven it can weather the financial storm, and will continue to fuel the economy with jobs and economic growth, despite the difficult challenges currently facing the credit market."
"We are well- positioned to meet the growing demand for solar. Thanks to our strong team and outstanding partners, we're able to negotiate deals and secure supply. Our excellent relationships -- with integrators, suppliers, and premier financial institutions that are making tax-advantaged investments -- enable us to complete projects quickly and successfully. Renewable energy, in particular solar, has proven it can weather the financial storm, and will continue to fuel the economy with jobs and economic growth, despite the difficult challenges currently facing the credit market."
Solar Fund III included a tax equity investment from Wells Fargo that enabled MMA Renewable Ventures to finance solar energy projects nationwide. "We're pleased to work with MMA Renewable Ventures to help unlock the vast opportunities that exist to help our nation take advantage of clean, renewable energy," said Barry Neal, director of Environmental Finance at Wells Fargo. "Our companies have a mutual dedication to aligning renewable energy with real economic opportunity in ways that benefit our customers, community, shareholders and the environment."
Most of the construction debt, permanent debt, and rebate financing for the Solar Fund III projects was provided by the National Consumer Cooperative Bank ("NCB"). "NCB views renewable energy as an important priority; we supply innovative financial services, and have a strong commitment to community involvement and the environment," said Andrew Kho, Managing Director of NCB's renewable energy department. "NCB enjoys working with MMA Renewable Ventures, and we look forward to continuing our collaboration on future solar PV projects."
MMA closed 2008 with approximately 40 MW in total of solar projects under its management and operation, an increase of 75 percent from its 2007 portfolio. "Our most recent projections indicate another substantial step in our growth for 2009, further reinforcing MMA Renewable Ventures' position as the nation's leading independent developer, financier, owner, and operator of renewable energy projects," noted Cheney.
MMA Renewable Ventures leverages tax credits and other incentives to finance and develop large-scale solar power systems under long-term contracts known as Power Purchase Agreements (PPA). Among the 20.6 MW of new solar photovoltaic projects that MMA brought online across the U.S. is the landmark two-megawatt solar photovoltaic system at Denver International Airport (one of the most visible solar arrays in the nation), as well as solar projects for Macy's, Roche, University of California-San Francisco, Gap Inc., FPL, Bolthouse Farms, and Lowe's.
About MMA Renewable Ventures
A wholly-owned subsidiary of Municipal Mortgage & Equity, LLC (OTC: MMAB.PK), MMA Renewable Ventures is a provider of renewable energy to businesses, utilities and government. The company develops, finances, owns and operates solar, wind, biomass and energy efficiency projects that provide clean power to customers without capital investment or maintenance costs. MMA Renewable Ventures is dedicated to delivering competitively-priced, clean energy and energy savings to customers, strong partnership options for project developers, and exceptional opportunities for institutional investment in the clean energy sector. Our team of engineers, financiers and projects managers is passionate about building a sustainable future.
For more information, visit http://www.mmarenewableventures.com.
For more information, visit http://www.mmarenewableventures.com.
SOURCE MMA Renewable Ventures, LLC
San Domenico School to Dedicate Marin's Largest School Solar Installation
SAN FRANCISCO, CA and SAN ANSELMO, CA--(Marketwire - January 26, 2009) - San Domenico School, the oldest independent Catholic school in California, and Recurrent Energy, a distributed power company and a leading provider of onsite solar energy, today announced the dedication of a 412 kilowatt solar energy system, the largest school installation in Marin County. The installation consists of 2,358 photovoltaic panels, spread across several roof- and ground-mounted arrays, covering almost one full football field in total. A dedication ceremony for the system will be held on Friday, January 30, 2009 at San Domenico School in San Anselmo. Recurrent Energy is financing, owning and operating the solar energy system, and worked with Sonoma, Calif.-based Solaris Solar for construction of the installation. The company is selling 100% of the electricity produced -- which is expected to provide nearly 85 percent of San Domenico's annual need -- under a 15-year Power Purchase Agreement (PPA). In return, San Domenico receives predictable and reduced energy costs, without the upfront capital costs and risks of solar power plant ownership.
"We are excited to be running our school on electricity generated at our school," said Mathew Heersche, San Domenico's head of school. "While the students have already been actively involved in making sustainable lifestyle choices at home and in the community, we look forward to continuing their education in eco-responsibility and, overall, in a sustainable environment."
Recurrent Energy's installation is expected to reduce carbon emissions by 860,000 pounds annually as determined by the U.S. Environmental Protection Agency (EPA). That is equivalent to removing 70 vehicles from the road, preserving 3 acres of forest from deforestation, or serving 60 U.S. households' electricity needs. All renewable energy credits from this project are owned by Recurrent Energy and will be sold to a third party.
"We are grateful to San Domenico for hosting this solar energy system and for their tireless dedication throughout the installation," said Recurrent Energy's VP of Development, Sheldon Kimber. "Their commitment to this project has been inspiring and sets a high bar for schools across the country to follow suit."
The dedication ceremony held at the San Domenico School's campus in San Anselmo is expected to have more than six hundred students, faculty, parents and community members in attendance. The event is open to the San Domenico Community and press:
Evolution Solar Signs on to President Obama's New Energy Plan
TEMPE, Ariz.--(BUSINESS WIRE)--Evolution Solar Corp. (Pink Sheets: EVSO), signs on to President Obama\'s New Energy Plan. The plan is designed to create millions of new Green Collar Jobs, aid the U.S. in its goal to reach energy independence, dramatically reduce carbon emissions, and stimulate the economy.
The largest investors in the U.S. and Europe urged Congress to support energy efficiency and clean energy in the Economic Stimulus Bill in a letter delivered yesterday morning to the House, Senate, and Obama administration. The group of 44 investors managing over $1.7 Trillion in assets urged congressional leaders to include significant funding for energy efficiency, clean energy, and clean transportation. The letter identifies the need to clean up the electric grid and make substantial investments to the power grid. The power grid would operate much more efficiently on a digital system that is fully automated. Implementing these efficiencies would dramatically reduce energy waste and green house gasses. These improvements would make it much easier to link solar and wind power to the electric grid. The signatories to this letter were many of the top Pension Funds, State Treasurers, and State and City Comptrollers.
Both the House and the Senate Finance Committee bills are similar in many ways. Both bills include a 3 year extension of the production tax credit for renewable energy at an estimated 1 year cost of $13.1 billion. Both bills would also remove caps on residential renewable energy investment tax credits, allowing home owners to claim a 30% credit on small wind energy investments and residential solar and geothermal equipment. The bills also include incentives for home owners to improve the energy efficiency of their existing homes. They would extend a tax credit for efficiency upgrades through 2010 and increase it from 10% of the cost to 30% for 2009 and 2010.
Evolution Solar Corp. (Pink Sheets: EVSO) moved up 12.32 % yesterday on the news of our President\'s New Energy For America Plan.
The largest investors in the U.S. and Europe urged Congress to support energy efficiency and clean energy in the Economic Stimulus Bill in a letter delivered yesterday morning to the House, Senate, and Obama administration. The group of 44 investors managing over $1.7 Trillion in assets urged congressional leaders to include significant funding for energy efficiency, clean energy, and clean transportation. The letter identifies the need to clean up the electric grid and make substantial investments to the power grid. The power grid would operate much more efficiently on a digital system that is fully automated. Implementing these efficiencies would dramatically reduce energy waste and green house gasses. These improvements would make it much easier to link solar and wind power to the electric grid. The signatories to this letter were many of the top Pension Funds, State Treasurers, and State and City Comptrollers.
Both the House and the Senate Finance Committee bills are similar in many ways. Both bills include a 3 year extension of the production tax credit for renewable energy at an estimated 1 year cost of $13.1 billion. Both bills would also remove caps on residential renewable energy investment tax credits, allowing home owners to claim a 30% credit on small wind energy investments and residential solar and geothermal equipment. The bills also include incentives for home owners to improve the energy efficiency of their existing homes. They would extend a tax credit for efficiency upgrades through 2010 and increase it from 10% of the cost to 30% for 2009 and 2010.
Evolution Solar Corp. (Pink Sheets: EVSO) moved up 12.32 % yesterday on the news of our President\'s New Energy For America Plan.
Solar Power, Inc. Announces Peaq™ Solar Shade Structure
ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI”) (OTCBB:SOPW), a vertically integrated designer, manufacturer, and installer of photovoltaic (“PV”) energy systems, today announced the introduction of its latest product, a modular elevated solar shade structure system called Peaq™. The new product offers a striking design, innovative kit-build installation, and a price tag comparable to rooftop installations. Peaq elevated solar array systems provide commercial enterprises with a means to significantly extend the footprint available to them for PV solar arrays in order to meet both financial and energy generation goals.
Solar Power, Inc.’s Peaq has been designed to transform parking lots into appealing areas that not only generate clean solar energy, but also provide a variety of other benefits. Peaq’s unique design delivers shaded parking for vehicles, increased comfort for visitors, and facilitates infrastructure for electric vehicle charging. The Peaq system also includes highly efficient, under-canopy LED lighting. This feature provides exceptional night time security by delivering light at three times the normal parking lot lighting levels without creating “light pollution” in the night sky. By virtue of its shading feature, Peaq also helps to reduce the negative heat-islanding effect open areas of asphalt have on the environment. The Peaq system is sealed to provide a dry under-canopy area during inclement weather.
The price point for solar carports and shade structures has historically been much higher than that of rooftop systems. Solar Power, Inc.’s Peaq system, with its unique design attributes, is available for most applications at a price point approaching that of rooftop systems and at parity with electrical utility costs in many market areas. SPI will manufacture Peaq system components and pre-assemble subsystems at its factory in order to achieve the best possible price.
“Product innovation is a central part of our company’s mission,” said Steve Kircher, CEO for Solar Power, Inc. “Peaq is not only innovative; it is also an example of how we deliver adaptable products and services that increase global accessibility to clean energy from the sun. The Peaq product is consistent with that mission because it creates opportunities for greater use of parking lots to generate clean electricity.”
Solar Power, Inc.’s Peaq has been designed to transform parking lots into appealing areas that not only generate clean solar energy, but also provide a variety of other benefits. Peaq’s unique design delivers shaded parking for vehicles, increased comfort for visitors, and facilitates infrastructure for electric vehicle charging. The Peaq system also includes highly efficient, under-canopy LED lighting. This feature provides exceptional night time security by delivering light at three times the normal parking lot lighting levels without creating “light pollution” in the night sky. By virtue of its shading feature, Peaq also helps to reduce the negative heat-islanding effect open areas of asphalt have on the environment. The Peaq system is sealed to provide a dry under-canopy area during inclement weather.
The price point for solar carports and shade structures has historically been much higher than that of rooftop systems. Solar Power, Inc.’s Peaq system, with its unique design attributes, is available for most applications at a price point approaching that of rooftop systems and at parity with electrical utility costs in many market areas. SPI will manufacture Peaq system components and pre-assemble subsystems at its factory in order to achieve the best possible price.
“Product innovation is a central part of our company’s mission,” said Steve Kircher, CEO for Solar Power, Inc. “Peaq is not only innovative; it is also an example of how we deliver adaptable products and services that increase global accessibility to clean energy from the sun. The Peaq product is consistent with that mission because it creates opportunities for greater use of parking lots to generate clean electricity.”
Monday, January 26, 2009
Entech Solar Appoints Kent J. Van Houten as Chief Financial Officer
EWING, N.J.--(BUSINESS WIRE)--Entech Solar (OTC BB: WWAT.OB), a leader in concentrating solar energy systems, announced today that Kent J. Van Houten has been named Chief Financial Officer (CFO) of the Company, effective January 26, 2009. Mr. Van Houten has served in a variety of finance-related leadership positions during the past 30 years, most recently as Vice President of Finance & Accounts at Aegis Communications. At Entech, he will be charged with managing the Company’s overall financial strategy, corporate planning, treasury functions, internal controls, and SEC reporting.
\"I am proud to announce Mr. Van Houten as the CFO of Entech Solar,\" said Frank Smith, CEO of Entech Solar. \"His extensive experience with rapidly-growing companies will serve him well in his new role at Entech, and we are excited that he has decided to bring his talent and passion to our team.”
“I am very excited to join the Entech team,” added Mr. Van Houten. “Entech’s ThermaVolt system offers a great opportunity to grow the combined heat and power market in a clean and economical way. I am very impressed with Entech’s progress to date and look forward to helping the Company continue to grow.”
Prior to his joining Entech Solar, Mr. Van Houten, age 55, was Vice President of Finance & Accounts at Aegis Communications, where he was responsible for the company\'s accounting functions, internal controls, and tax compliance, as well as legal and corporate governance. Prior to this, Mr. Van Houten spent several years as a financial consultant and also served as Chief Financial Officer at Peerless Manufacturing, a supplier of filters and environmental protection equipment used in the petroleum, natural gas, petrochemical and electric utility industries. His background includes capital planning, treasury oversight, SEC reporting, business development, strategic planning, acquisition due diligence, corporate restructuring, and overall financial management. Mr. Van Houten is a 1975 graduate of Howard Payne University, holding a Bachelor’s in Business Administration degree in Accounting and minor in Economics. He is a Certified Public Accountant.
\"I am proud to announce Mr. Van Houten as the CFO of Entech Solar,\" said Frank Smith, CEO of Entech Solar. \"His extensive experience with rapidly-growing companies will serve him well in his new role at Entech, and we are excited that he has decided to bring his talent and passion to our team.”
“I am very excited to join the Entech team,” added Mr. Van Houten. “Entech’s ThermaVolt system offers a great opportunity to grow the combined heat and power market in a clean and economical way. I am very impressed with Entech’s progress to date and look forward to helping the Company continue to grow.”
Prior to his joining Entech Solar, Mr. Van Houten, age 55, was Vice President of Finance & Accounts at Aegis Communications, where he was responsible for the company\'s accounting functions, internal controls, and tax compliance, as well as legal and corporate governance. Prior to this, Mr. Van Houten spent several years as a financial consultant and also served as Chief Financial Officer at Peerless Manufacturing, a supplier of filters and environmental protection equipment used in the petroleum, natural gas, petrochemical and electric utility industries. His background includes capital planning, treasury oversight, SEC reporting, business development, strategic planning, acquisition due diligence, corporate restructuring, and overall financial management. Mr. Van Houten is a 1975 graduate of Howard Payne University, holding a Bachelor’s in Business Administration degree in Accounting and minor in Economics. He is a Certified Public Accountant.
Sunrise Solar Expands Portfolio With Projects in Mexico
SAN ANTONIO--(BUSINESS WIRE)--Sunrise Solar Corp. (OTCBB:SSLR) announced today that it has accepted the opportunity to provide solar power resources to two large hospitals in Mexico. SSLR is currently developing projects in Africa, Brazil and the United States. Mexico is seen as a large new market for solar power.
The United Sates has set a goal to double energy production from natural sources within three years. Industries worldwide now realize that solar power can reduce operating costs and provide increased energy security during times of energy volatility and economic uncertainty. Regardless of the economy or oil prices, the sun will still shine.
“We have elected to expand our development activities to Mexico because it has excellent sun resources and a growing population in need of clean, economic electricity,” said Mr. Eddie Austin, Chairman and CEO of Sunrise Solar Corp. “With a trillion dollars of stimulus coming down the pipeline and an economy starved for clean energy, we feel this is the time to expand our footprint in the industry.”
Examples of this can be seen in SunTech’s (NYSE:STP) recent decision to triple its office space and increase the number of employees it hires. Companies like Energy Conversion Devices, Inc. (NASDAQ:ENER) are working with Congress to ensure that stimulus plans work effectively to support clean energy development.
The United Sates has set a goal to double energy production from natural sources within three years. Industries worldwide now realize that solar power can reduce operating costs and provide increased energy security during times of energy volatility and economic uncertainty. Regardless of the economy or oil prices, the sun will still shine.
“We have elected to expand our development activities to Mexico because it has excellent sun resources and a growing population in need of clean, economic electricity,” said Mr. Eddie Austin, Chairman and CEO of Sunrise Solar Corp. “With a trillion dollars of stimulus coming down the pipeline and an economy starved for clean energy, we feel this is the time to expand our footprint in the industry.”
Examples of this can be seen in SunTech’s (NYSE:STP) recent decision to triple its office space and increase the number of employees it hires. Companies like Energy Conversion Devices, Inc. (NASDAQ:ENER) are working with Congress to ensure that stimulus plans work effectively to support clean energy development.
Telkonet Wins PLC Implementation for Sandia's National Solar Thermal Test Facility
GERMANTOWN, Md.--(BUSINESS WIRE)--Telkonet, Inc. (NSYE Alternext: TKO), a Clean Technology company that develops and manufactures proprietary energy management and SmartGrid networking technology, has won a ground-breaking contract to supply the Telkonet Series 5™ 200 Mbps powerline communications (PLC) system to the U.S. Department of Energy's National Solar Thermal Test Facility (NSTTF) in Albuquerque, New Mexico. Sandia National Laboratories, the operator of the NSTTF, required a cutting edge solution that would provide updated data connectivity for the site's solar array of 218 heliostats (individually-guided mirrors that reflect concentrated sunlight to a target located at various positions on a 200 ft tall tower. Telkonet Series 5 was selected after a comprehensive market evaluation of all viable technologies, including competing PLC solutions, demonstrating its networking capabilities for high performance, critical applications to handle the project's scale across a 9-acre site and challenging outdoor operational conditions. Telkonet's advanced PLC technology will provide the platform to communicate between a central control computer and each heliostat. Targeting coordinates will be transferred to each heliostat and heliostat position will be returned to the control computer. Installation is scheduled to commence in early 2009.
The NSTTF is the only test facility of its kind in the United States, providing experimental engineering data specializing in testing solar technologies, such as concentrating sunlight to heat a fluid that generates thermal energy to generate electricity. The facility is available to a wide cross-section of users for all types of solar and non-solar test applications, with projects including the U.S. Air Force, NASA and even applications requiring the simulation of a nuclear blast. The ability to analyze real-time data from the heliostats was a prime requirement as part of an ongoing upgrade program, as Cheryl Ghanbari, Test Engineer of Sandia National Laboratories explains, "The heliostat field has been in operation for more than 30 years. In spite of a site-wide counter poise system the field has experienced numerous direct lightning strikes that have caused a large number of component failures. The heliostat field has 480 volt AC power out to each heliostat, that is converted to 24 V DC to drive the motors that control the heliostats in azimuth and elevation, One of our main objectives was to be able to communicate utilizing the 480 V AC powerlines. After careful market research, we identified PLC as a viable option and conducted a series of tests. Telkonet provided hours of customer support and worked closely with us to optimize their equipment into our unique application."
Prime Core Systems is contracted to handle Sandia's NSTTF PLC implementation, and was responsible for conducting the preliminary testing during December 2008 to prove Telkonet Series 5's suitability. Key issues included proving resilience and reliability, as well as consistently high bandwidth performance across the site, as Systems Engineer Juan Ortiz-Moyet explains, "Setting up the Telkonet units was very straightforward, and they performed very well across every parameter we tested. Unlike other PLC equipment we tested, Telkonet Series 5 worked predictably from the outset. We were impressed, as this is a unique application for the Telkonet equipment despite the fact that they have been well tested in the harsh substation environment." More than 240 Telkonet iBridges™ and 260 inductive Telkonet Couplers™, plus 10 Telkonet eXtenders™ and 2 Telkonet Gateways for full redundancy will be deployed across the site. The entire upgrade will be completed by late summer 2009.
Telkonet Series 5 has been designed specifically to meet high performance, critical applications, setting unprecedented performance levels for security, speed, QoS and capacity. Telkonet Series 5 delivers a range of significant performance advances, including the following.
* Secure transmission – Incorporates hardware-based 128-bit AES encryption that meets stringent commercial requirements and provides industrial users with a highly secure remote management solution
* Incorporates additional optional physical access ports – Including both RS232 and RS485 to enable a wide range of different devices to be networked, such as non Ethernet-enabled monitoring and metering devices used in electric utility substations
* Optional support for both DC and AC applications – Meets environmental standards for both AC and DC operating environments for utility substations and the utility marketplace
* Withstands extended temperature ranges – Enables monitoring and control in tough, outdoor industrial environments
* Enhanced Quality of Service (QoS) – Handles up to 8 different communication levels, across high-speed data, Voice over IP (VoIP) and surveillance, with rate-limited bandwidth management per application
* Integrated energy management – Incorporates an optional ZigBee adapter for the initial integration of Networked Telkonet SmartEnergy, combining Ethernet connectivity with wireless-based monitoring and management
The NSTTF is the only test facility of its kind in the United States, providing experimental engineering data specializing in testing solar technologies, such as concentrating sunlight to heat a fluid that generates thermal energy to generate electricity. The facility is available to a wide cross-section of users for all types of solar and non-solar test applications, with projects including the U.S. Air Force, NASA and even applications requiring the simulation of a nuclear blast. The ability to analyze real-time data from the heliostats was a prime requirement as part of an ongoing upgrade program, as Cheryl Ghanbari, Test Engineer of Sandia National Laboratories explains, "The heliostat field has been in operation for more than 30 years. In spite of a site-wide counter poise system the field has experienced numerous direct lightning strikes that have caused a large number of component failures. The heliostat field has 480 volt AC power out to each heliostat, that is converted to 24 V DC to drive the motors that control the heliostats in azimuth and elevation, One of our main objectives was to be able to communicate utilizing the 480 V AC powerlines. After careful market research, we identified PLC as a viable option and conducted a series of tests. Telkonet provided hours of customer support and worked closely with us to optimize their equipment into our unique application."
Prime Core Systems is contracted to handle Sandia's NSTTF PLC implementation, and was responsible for conducting the preliminary testing during December 2008 to prove Telkonet Series 5's suitability. Key issues included proving resilience and reliability, as well as consistently high bandwidth performance across the site, as Systems Engineer Juan Ortiz-Moyet explains, "Setting up the Telkonet units was very straightforward, and they performed very well across every parameter we tested. Unlike other PLC equipment we tested, Telkonet Series 5 worked predictably from the outset. We were impressed, as this is a unique application for the Telkonet equipment despite the fact that they have been well tested in the harsh substation environment." More than 240 Telkonet iBridges™ and 260 inductive Telkonet Couplers™, plus 10 Telkonet eXtenders™ and 2 Telkonet Gateways for full redundancy will be deployed across the site. The entire upgrade will be completed by late summer 2009.
Telkonet Series 5 has been designed specifically to meet high performance, critical applications, setting unprecedented performance levels for security, speed, QoS and capacity. Telkonet Series 5 delivers a range of significant performance advances, including the following.
* Secure transmission – Incorporates hardware-based 128-bit AES encryption that meets stringent commercial requirements and provides industrial users with a highly secure remote management solution
* Incorporates additional optional physical access ports – Including both RS232 and RS485 to enable a wide range of different devices to be networked, such as non Ethernet-enabled monitoring and metering devices used in electric utility substations
* Optional support for both DC and AC applications – Meets environmental standards for both AC and DC operating environments for utility substations and the utility marketplace
* Withstands extended temperature ranges – Enables monitoring and control in tough, outdoor industrial environments
* Enhanced Quality of Service (QoS) – Handles up to 8 different communication levels, across high-speed data, Voice over IP (VoIP) and surveillance, with rate-limited bandwidth management per application
* Integrated energy management – Incorporates an optional ZigBee adapter for the initial integration of Networked Telkonet SmartEnergy, combining Ethernet connectivity with wireless-based monitoring and management
BioSolar Gears For Growth Following Obama Inauguration
SANTA CLARITA, Calif.--(BUSINESS WIRE)--BioSolar, Inc. (OTCBB:BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic solar cells, continues to sustain media attention for its cost-saving and environmentally-friendly BioBacksheet™ solar module component.
BioSolar "is ushering in the inherent benefits of biomass by leading a pioneering effort to reduce the costs of solar modules by replacing petroleum-based solar panel components with durable biomass-based materials," according to a web exclusive article posted December 10, 2008 on the website of BioMass Magazine and the January 9 edition of Energy Weekly News.
“With the new administration ready to push for legislation requiring the use of more alternative energy, solar energy companies, finishing a year of record growth in 2008, are expected to gain even more momentum,” said Dr. David Lee, CEO of BioSolar. “Companies like BioSolar are uniquely poised for growth in this climate.”
With growth and investment in the solar industry, manufacturers are constantly looking for ways to reduce solar module costs and increase efficiencies. Currently being readied for production, the BioBacksheet is expected to cost less than its petroleum-based counterpart used in solar panels. In addition, BioSolar recently developed a new material configuration and manufacturing technique to produce another patent-pending version of BioBacksheet that can potentially deliver a dramatic reduction in cost in the future.
BioSolar "is ushering in the inherent benefits of biomass by leading a pioneering effort to reduce the costs of solar modules by replacing petroleum-based solar panel components with durable biomass-based materials," according to a web exclusive article posted December 10, 2008 on the website of BioMass Magazine and the January 9 edition of Energy Weekly News.
“With the new administration ready to push for legislation requiring the use of more alternative energy, solar energy companies, finishing a year of record growth in 2008, are expected to gain even more momentum,” said Dr. David Lee, CEO of BioSolar. “Companies like BioSolar are uniquely poised for growth in this climate.”
With growth and investment in the solar industry, manufacturers are constantly looking for ways to reduce solar module costs and increase efficiencies. Currently being readied for production, the BioBacksheet is expected to cost less than its petroleum-based counterpart used in solar panels. In addition, BioSolar recently developed a new material configuration and manufacturing technique to produce another patent-pending version of BioBacksheet that can potentially deliver a dramatic reduction in cost in the future.
First Solar Applauds International Renewable Energy Initiative
TEMPE, Ariz.--(BUSINESS WIRE)--First Solar, Inc. (Nasdaq:FSLR) today applauded the creation of the new International Renewable Energy Agency (IRENA) as an important step in promoting investments in renewable energies worldwide.
IRENA is an international organization created to promote renewable energy options on a global scale. This ambitious initiative will offer both industrialized and developing nations advice and support when seeking renewable energy solutions.
“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”
It is IRENA’s goal to become the main driving force in promoting widespread sustainability. The agency plans to aid nations in accessing relevant information and reliable data on the renewable energy industry. IRENA will also help countries improve their regulatory frameworks and build their renewable energy capacity.
“The level of international support for IRENA shows that the need to invest in alternatives to fossil fuels is as important for developing countries as it is for developed countries,” Ahearn said. “We expect IRENA to become a powerful force in identifying and promoting best practices and thereby help governments and private investors optimize their investments in renewable energies.”
The agency plans to cooperate with other organizations that are already active in the renewable energy field in order to complement their initiatives. The Founding Conference for IRENA, where the Treaty will be signed, will be held today in Bonn, Germany.
IRENA is an international organization created to promote renewable energy options on a global scale. This ambitious initiative will offer both industrialized and developing nations advice and support when seeking renewable energy solutions.
“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”
It is IRENA’s goal to become the main driving force in promoting widespread sustainability. The agency plans to aid nations in accessing relevant information and reliable data on the renewable energy industry. IRENA will also help countries improve their regulatory frameworks and build their renewable energy capacity.
“The level of international support for IRENA shows that the need to invest in alternatives to fossil fuels is as important for developing countries as it is for developed countries,” Ahearn said. “We expect IRENA to become a powerful force in identifying and promoting best practices and thereby help governments and private investors optimize their investments in renewable energies.”
The agency plans to cooperate with other organizations that are already active in the renewable energy field in order to complement their initiatives. The Founding Conference for IRENA, where the Treaty will be signed, will be held today in Bonn, Germany.
Saturday, January 24, 2009
City of Richmond to Pilot Solar Thermal Rebate Program Linked to Local Green-Collar Jobs
RICHMOND, Calif.--(BUSINESS WIRE)--A ground-breaking initiative in Richmond, CA to pilot a solar thermal rebate program that requires the customer utilizes locally-trained labor passed unanimously at the city council meeting Tuesday night, January 20th. The initiative was introduced by Mayor Gayle McLaughlin and co-sponsored by Vice Mayor Lopez and Councilmember Ritterman.
Solar Richmond, Richmond BUILD, Grid Alternatives and Solar Living Institute are working in partnership to provide top-notch training to Richmond residents. Richmond BUILD offers a 12-week program that includes 7 weeks of pre-apprenticeship construction training and 5 weeks of solar instruction. Heliodyne, a local solar thermal company, is working with the partnership to add solar thermal training to the curriculum. Sal Vaca, Director of Employment and Training, says, “We are excited about partnering with our city to continue to create opportunities for our graduates.”
The initial pilot program will offer a $1,000 rebate per system for 25 rooftops. “Richmond is leading the way in providing pathways out of poverty in the solar field. My hope is that all the cities in the East Bay Green Corridor and beyond will also step up with a similar program,” says Mayor McLaughlin.
Heliodyne has been manufacturing solar thermal systems in Richmond for 33 years. “I am impressed that in these economic times, the City of Richmond’s leaders are willing to make such a bold investment,” says Ole Pilgaard, President/CEO of Heliodyne.
This program, initially proposed by Michele McGeoy, Founder and Director of Solar Richmond, is the first in the country to offer a thermal rebate tied to a job training program. “This powerful partnership between city, non-profits and industry is showing that we can clean up the planet while ensuring that this New Green Economy lifts all boats,” says McGeoy.
Solar Richmond, Richmond BUILD, Grid Alternatives and Solar Living Institute are working in partnership to provide top-notch training to Richmond residents. Richmond BUILD offers a 12-week program that includes 7 weeks of pre-apprenticeship construction training and 5 weeks of solar instruction. Heliodyne, a local solar thermal company, is working with the partnership to add solar thermal training to the curriculum. Sal Vaca, Director of Employment and Training, says, “We are excited about partnering with our city to continue to create opportunities for our graduates.”
The initial pilot program will offer a $1,000 rebate per system for 25 rooftops. “Richmond is leading the way in providing pathways out of poverty in the solar field. My hope is that all the cities in the East Bay Green Corridor and beyond will also step up with a similar program,” says Mayor McLaughlin.
Heliodyne has been manufacturing solar thermal systems in Richmond for 33 years. “I am impressed that in these economic times, the City of Richmond’s leaders are willing to make such a bold investment,” says Ole Pilgaard, President/CEO of Heliodyne.
This program, initially proposed by Michele McGeoy, Founder and Director of Solar Richmond, is the first in the country to offer a thermal rebate tied to a job training program. “This powerful partnership between city, non-profits and industry is showing that we can clean up the planet while ensuring that this New Green Economy lifts all boats,” says McGeoy.
Friday, January 23, 2009
Nevada Officials Help Dedicate Sempra Energy's First Solar Power Installation
SAN DIEGO, CA--(Marketwire - January 22, 2009) - Nevada Gov. Jim Gibbons, Boulder City Mayor Roger Tobler, Neal Schmale, president and chief operating officer of Sempra Energy, and other dignitaries were on hand today in southern Nevada to officially dedicate Sempra Energy's new El Dorado Energy Solar facility, the largest thin-film solar power facility in North America.
The 10-megawatt (MW) project is located adjacent to the company's existing 480 MW El Dorado Energy natural gas-fired power plant near Boulder City, Nev., about 40 miles southeast of Las Vegas.
The El Dorado Energy Solar project is Sempra Energy's first solar power-generation project and required just six months to build. Construction began in July 2008 and was completed in December 2008. It involved the installation of more than 167,000 solar modules on 80 acres of desert property designated as a renewable energy zone and leased from Boulder City.
The new project's entire 10-MW output has been contracted under a 20-year power purchase agreement with Pacific Gas and Electric, the Northern California utility. The contract is subject to approval by the California Public Utilities Commission.
At peak production, El Dorado Energy Solar will generate enough electricity to power approximately 6,400 homes.
"Sempra Energy's new solar project illustrates substantial foresight and the willingness to deploy an advanced photovoltaic technology on a scale attractive to utilities and other major power customers," Gov. Gibbons said. "I look forward to seeing more projects like this in the Silver State."
"Confronting climate change and the need for new, clean electric resources is one of the great challenges we face," said Schmale. "We are excited about the potential of solar power and see this project as an important advance in solar power in North America."
The new installation's advanced thin-film semiconductor technology converts sunlight into electricity without air emissions or water use. These modules, manufactured by Arizona-based First Solar, Inc. (NASDAQ: FSLR), can produce more electricity under real-world conditions than conventional solar modules with similar power ratings.
An additional 50-MW expansion phase of the project is under active consideration.
Unlike some solar power projects, El Dorado Energy's solar power plant will not use water or other liquids in the power-generation process. This water conservation feature makes the project especially suitable to the arid U.S. Southwest. As with other solar projects, the new Sempra Generation facility will generate electricity during the day when customer demand peaks.
First Solar manufactured the solar modules, was the engineering, procurement and construction contractor for the project and is charged with monitoring and maintaining the plant.
The 10-megawatt (MW) project is located adjacent to the company's existing 480 MW El Dorado Energy natural gas-fired power plant near Boulder City, Nev., about 40 miles southeast of Las Vegas.
The El Dorado Energy Solar project is Sempra Energy's first solar power-generation project and required just six months to build. Construction began in July 2008 and was completed in December 2008. It involved the installation of more than 167,000 solar modules on 80 acres of desert property designated as a renewable energy zone and leased from Boulder City.
The new project's entire 10-MW output has been contracted under a 20-year power purchase agreement with Pacific Gas and Electric, the Northern California utility. The contract is subject to approval by the California Public Utilities Commission.
At peak production, El Dorado Energy Solar will generate enough electricity to power approximately 6,400 homes.
"Sempra Energy's new solar project illustrates substantial foresight and the willingness to deploy an advanced photovoltaic technology on a scale attractive to utilities and other major power customers," Gov. Gibbons said. "I look forward to seeing more projects like this in the Silver State."
"Confronting climate change and the need for new, clean electric resources is one of the great challenges we face," said Schmale. "We are excited about the potential of solar power and see this project as an important advance in solar power in North America."
The new installation's advanced thin-film semiconductor technology converts sunlight into electricity without air emissions or water use. These modules, manufactured by Arizona-based First Solar, Inc. (NASDAQ: FSLR), can produce more electricity under real-world conditions than conventional solar modules with similar power ratings.
An additional 50-MW expansion phase of the project is under active consideration.
Unlike some solar power projects, El Dorado Energy's solar power plant will not use water or other liquids in the power-generation process. This water conservation feature makes the project especially suitable to the arid U.S. Southwest. As with other solar projects, the new Sempra Generation facility will generate electricity during the day when customer demand peaks.
First Solar manufactured the solar modules, was the engineering, procurement and construction contractor for the project and is charged with monitoring and maintaining the plant.
Salicru S.A. and Sustainable to Introduce High-Yield Parallel Solutions for Thin Film PV
CALGARY, ALBERTA--(Marketwire - Jan. 22, 2009) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") and Salicru S.A ("Salicru") announced today that the two companies will partner to bring Sustainable Energy's revolutionary "parallel" inverter technology to the European rooftop and building integrated solar power market.
Under the agreement, Salicru will distribute Sustainable's next generation of solar inverters ("Gen II") under the "Salicru" brand label throughout its markets in Southern Europe, North Africa, the Middle East and the Asia Pacific countries. Salicru is recognized as one of Europe's top power electronics companies, and is, indisputably, the market leader in Spain and Portugal, with an extensive distribution network throughout the region.
Sustainable's inverter technology is the first to offer the inherently higher yields and lower balance of system cost of a massively parallel system architecture to the thin film industry. In rooftop and building integrated solar applications, a parallel architecture enables more extensive coverage of the rooftop, much greater system design flexibility, and simpler lower cost installation of the modules.
"Salicru's commitment validates our vision that thin film technologies will be a major part of the future of the rooftop and building integrated solar PV markets, accelerating the industry's drive for grid parity" said Michael Carten, President and CEO of Sustainable Energy."We are very excited to be partnering with a company of Salicru's stature to introduce the power of the parallel architecture to the European market; and to demonstrate its contribution to lowering electricity costs and delivering higher investor yields," added Carten.
Commenting on the agreement, Eduard Salicru, Managing Director of Salicru said: "We are looking forward to our partnership with Sustainable. In our opinion, thin film PV will take a large share of the solar market within the next two years because of its lower cost per watt and better performance in hot weather markets. Sustainable has a product which enhances thin film's cost and hot weather advantages and Salicru is very optimistic about the market potential."
Highlights of the agreement are
- Sustainable will license Salicru to distribute inverters manufactured by Sustainable under the Salicru brand name in its markets throughout Europe, North Africa, the Middle East and the Asia Pacific region.
- Within Spain and Portugal, Sustainable will not grant any private label rights to any other companies during the term of the agreement. Sustainable may continue to sell products in Spain and Portugal through certain existing relationships, but will coordinate closely with Salicru in developing markets for the inverters in the region.
- Salicru has delivered a purchase order for a minimum number of Gen II inverter with first deliveries targeted for early Q3, 2009. The estimated value of the initial order is $6.2 million.
- Salicru will provide product warranty support at its facilities near Barcelona for all Sustainable products sold in the region, including products marketed under a Sustainable brand name.
- Under the agreement, Sustainable and Salicru have agreed to collaborate in the development of new products, using the Sustainable products and technologies as a platform. Salicru has a strong product development group and its facilities are among the best in Southern Europe.
Under the agreement, Salicru will distribute Sustainable's next generation of solar inverters ("Gen II") under the "Salicru" brand label throughout its markets in Southern Europe, North Africa, the Middle East and the Asia Pacific countries. Salicru is recognized as one of Europe's top power electronics companies, and is, indisputably, the market leader in Spain and Portugal, with an extensive distribution network throughout the region.
Sustainable's inverter technology is the first to offer the inherently higher yields and lower balance of system cost of a massively parallel system architecture to the thin film industry. In rooftop and building integrated solar applications, a parallel architecture enables more extensive coverage of the rooftop, much greater system design flexibility, and simpler lower cost installation of the modules.
"Salicru's commitment validates our vision that thin film technologies will be a major part of the future of the rooftop and building integrated solar PV markets, accelerating the industry's drive for grid parity" said Michael Carten, President and CEO of Sustainable Energy."We are very excited to be partnering with a company of Salicru's stature to introduce the power of the parallel architecture to the European market; and to demonstrate its contribution to lowering electricity costs and delivering higher investor yields," added Carten.
Commenting on the agreement, Eduard Salicru, Managing Director of Salicru said: "We are looking forward to our partnership with Sustainable. In our opinion, thin film PV will take a large share of the solar market within the next two years because of its lower cost per watt and better performance in hot weather markets. Sustainable has a product which enhances thin film's cost and hot weather advantages and Salicru is very optimistic about the market potential."
Highlights of the agreement are
- Sustainable will license Salicru to distribute inverters manufactured by Sustainable under the Salicru brand name in its markets throughout Europe, North Africa, the Middle East and the Asia Pacific region.
- Within Spain and Portugal, Sustainable will not grant any private label rights to any other companies during the term of the agreement. Sustainable may continue to sell products in Spain and Portugal through certain existing relationships, but will coordinate closely with Salicru in developing markets for the inverters in the region.
- Salicru has delivered a purchase order for a minimum number of Gen II inverter with first deliveries targeted for early Q3, 2009. The estimated value of the initial order is $6.2 million.
- Salicru will provide product warranty support at its facilities near Barcelona for all Sustainable products sold in the region, including products marketed under a Sustainable brand name.
- Under the agreement, Sustainable and Salicru have agreed to collaborate in the development of new products, using the Sustainable products and technologies as a platform. Salicru has a strong product development group and its facilities are among the best in Southern Europe.
Evergreen Solar to Host Fourth-Quarter Earnings Call on February 5, 2009
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of String Ribbon™ solar power products with its proprietary, low-cost silicon wafer technology, today announced that it will release its fourth-quarter 2008 financial results after the market closes on Thursday, February 5, 2009.
Management will conduct a conference call at 5:00 p.m. (ET) that evening. The call will be webcast live over the Internet and can be accessed by logging on to the \"Investors\" section of Evergreen Solar\'s website, www.evergreensolar.com prior to the event.
The call also can be accessed by dialing (888) 204-6674 or (913) 312-0665 (International) prior to the start of the call. For those unable to join the live conference call, a replay will be available from 8:00 p.m. (ET) on February 5th through 8:00 p.m. (ET) on February 12th. To access the replay, dial (888) 203-1112 or (719) 457-0820 and refer to confirmation code 8359425. The webcast also will be archived on the Company\'s website.
Management will conduct a conference call at 5:00 p.m. (ET) that evening. The call will be webcast live over the Internet and can be accessed by logging on to the \"Investors\" section of Evergreen Solar\'s website, www.evergreensolar.com prior to the event.
The call also can be accessed by dialing (888) 204-6674 or (913) 312-0665 (International) prior to the start of the call. For those unable to join the live conference call, a replay will be available from 8:00 p.m. (ET) on February 5th through 8:00 p.m. (ET) on February 12th. To access the replay, dial (888) 203-1112 or (719) 457-0820 and refer to confirmation code 8359425. The webcast also will be archived on the Company\'s website.
ATEL Ventures Commits $5MM in Equipment Lease Financing to 6N Silicon, Inc.
SAN FRANCISCO--(BUSINESS WIRE)--ATEL Ventures, a leading provider of secured financing to emerging growth companies, is pleased to announce it has committed $5 million in equipment lease financing to 6N Silicon Inc., a developer of solar-grade silicon purification technology whose revolutionary process features very low environmental impact and rapid scaling capability.
6N Silicon has experienced accelerating momentum in the photovoltaic industry as result of its proprietary process for purifying inexpensive, readily available metallurgical grade silicon into solar grade silicon using low cost metallurgical processing. The use of standard metal processing tools has allowed 6N to avoid the high energy requirements typical of traditional silicon processing plants.
“6N’s strong momentum and vision made it a compelling investment for ATEL,” said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group.
Paolo Maccario, 6N Silicon CEO, added, “We sincerely appreciate this support from ATEL and the relationship that we have built. Receiving this endorsement during the current economic cycle further validates our business model. This financing is allowing us to continue the expansion of our operations to satisfy our growing customer requirements.”
6N Silicon has experienced accelerating momentum in the photovoltaic industry as result of its proprietary process for purifying inexpensive, readily available metallurgical grade silicon into solar grade silicon using low cost metallurgical processing. The use of standard metal processing tools has allowed 6N to avoid the high energy requirements typical of traditional silicon processing plants.
“6N’s strong momentum and vision made it a compelling investment for ATEL,” said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group.
Paolo Maccario, 6N Silicon CEO, added, “We sincerely appreciate this support from ATEL and the relationship that we have built. Receiving this endorsement during the current economic cycle further validates our business model. This financing is allowing us to continue the expansion of our operations to satisfy our growing customer requirements.”
Electron Solar Energy Issues CEO Letter to Shareholders
MIAMI--(BUSINESS WIRE)--Electron Solar Energy (OTC:ESRG) issued the following letter to shareholders today:
Dear Electron Shareholders,
In a 2008 economy in which almost every business sector faced downturns and cutbacks, the alternative energy source industry improved significantly. Electron Solar Energy benefited substantially, achieving record sales and profits. In a world of diminishing fossil fuels, we are poised to continue that growth.
Electron ended 2008 with over $3 million in revenue, and is now running at an annualized pace of close to $5 million. In 2008 we doubled our core business for solar energy products, and completed two strategic acquisitions, a million-dollar business unit, Southern Automotive Products (www.sapfl.com), a fabricator and distributor of high-quality machine parts and tools, and Express Communications (www.expcomm.com), a multi-national manufacturer of custom cables and telecommunications equipment. These additions are part of our strategy to grow through acquisitions of synergistic companies, as well as increasing market penetration through our existing core businesses.
Marketplace attention is increasingly focused on advances in solar technology. This is a trend upon which Electron is now positioned to capitalize. As a large volume distributor, we have the flexibility to modify and maintain proper inventory levels to satisfy all emerging alternative energy demands.
Electron entered 2009 with significant orders on hand for all of our divisions; our solar energy installation unit in particular. We are investing in additional international sales resources, thereby increasing our volume, while vigorously controlling our overhead to maximize profit for our stockholders.
Our marketing efforts utilizing the Internet have proven very effective, resulting in both domestic and international inquiries and sales. (Please visit www.electronsolarenergy.com for a complete directory of websites.) We have expanded our regional penetration in the solar energy installation market with a dedicated website www.solarinstallationFL.com. National media attention is increasing, and we have retained a public relations firm to maximize media coverage. As an example, our installation of “solar panels as art” functioning installation at the world-renowned Art Basel Miami in December received rave media reviews. These steps are improving our position in the industry, the media, and local markets. In 2009, we will leverage that exposure to generate larger installation contracts.
With the recent change in Florida legislature a new property tax credit for alternative energy conversion, businesses and homeowners will have a greater incentive to act in 2009 than ever before. We anticipate that other States and the Federal Government will pass similar legislation. Electron is positioned to capitalize on these new opportunities.
Our network of international distributors and dealers is growing. We are poised and ready to capitalize on the explosive growth our industry is experiencing in 2009 and beyond. Our investments and acquisitions are strategically targeted toward increasing profits, as well as shareholder value. This will enable us to increase inventory levels sufficiently to meet growing market demand.
Your trust and confidence in management is greatly appreciated. Our entire management team is focused on growth of shareholder value. We thank you, our shareholders, for your past loyalty and support, and we look forward to a rewarding and exciting future for all of us.
Sincerely,
Christopher Quinn
Chief Executive Officer
Dear Electron Shareholders,
In a 2008 economy in which almost every business sector faced downturns and cutbacks, the alternative energy source industry improved significantly. Electron Solar Energy benefited substantially, achieving record sales and profits. In a world of diminishing fossil fuels, we are poised to continue that growth.
Electron ended 2008 with over $3 million in revenue, and is now running at an annualized pace of close to $5 million. In 2008 we doubled our core business for solar energy products, and completed two strategic acquisitions, a million-dollar business unit, Southern Automotive Products (www.sapfl.com), a fabricator and distributor of high-quality machine parts and tools, and Express Communications (www.expcomm.com), a multi-national manufacturer of custom cables and telecommunications equipment. These additions are part of our strategy to grow through acquisitions of synergistic companies, as well as increasing market penetration through our existing core businesses.
Marketplace attention is increasingly focused on advances in solar technology. This is a trend upon which Electron is now positioned to capitalize. As a large volume distributor, we have the flexibility to modify and maintain proper inventory levels to satisfy all emerging alternative energy demands.
Electron entered 2009 with significant orders on hand for all of our divisions; our solar energy installation unit in particular. We are investing in additional international sales resources, thereby increasing our volume, while vigorously controlling our overhead to maximize profit for our stockholders.
Our marketing efforts utilizing the Internet have proven very effective, resulting in both domestic and international inquiries and sales. (Please visit www.electronsolarenergy.com for a complete directory of websites.) We have expanded our regional penetration in the solar energy installation market with a dedicated website www.solarinstallationFL.com. National media attention is increasing, and we have retained a public relations firm to maximize media coverage. As an example, our installation of “solar panels as art” functioning installation at the world-renowned Art Basel Miami in December received rave media reviews. These steps are improving our position in the industry, the media, and local markets. In 2009, we will leverage that exposure to generate larger installation contracts.
With the recent change in Florida legislature a new property tax credit for alternative energy conversion, businesses and homeowners will have a greater incentive to act in 2009 than ever before. We anticipate that other States and the Federal Government will pass similar legislation. Electron is positioned to capitalize on these new opportunities.
Our network of international distributors and dealers is growing. We are poised and ready to capitalize on the explosive growth our industry is experiencing in 2009 and beyond. Our investments and acquisitions are strategically targeted toward increasing profits, as well as shareholder value. This will enable us to increase inventory levels sufficiently to meet growing market demand.
Your trust and confidence in management is greatly appreciated. Our entire management team is focused on growth of shareholder value. We thank you, our shareholders, for your past loyalty and support, and we look forward to a rewarding and exciting future for all of us.
Sincerely,
Christopher Quinn
Chief Executive Officer
SunEdison Acquires Business Institute Solar Strategy (BISS) GmbH
HAMBURG, Germany & BELTSVILLE, Md.--(BUSINESS WIRE)--SunEdison, North America’s largest solar energy services provider, today announced the acquisition of Business Institute Solar Strategy GmbH (BISS), with offices in Hamburg, Germany and Brescia, Italy.
The transaction provides SunEdison with 38 MW of solar photovoltaic (PV) projects under development in Italy and Spain and direct access to 300 MW of project opportunities in Europe. SunEdison has more than 68 MW of solar under management globally, with 9 MW of PV systems in Spain. Terms of the deal and projects were not disclosed.
In addition, SunEdison named BISS managing director Gerwin Dreesmann, as General Manager, Europe.
“The BISS acquisition, which provides SunEdison direct access to 300 MW of project opportunities, accelerates our European expansion. Gerwin and the BISS team have an excellent reputation in Germany and unparalleled insight into the European market. They share our rigorous focus on quality assurance in system execution and delivery of solar services. I look forward to working closely with Gerwin as he oversees our operations in Europe,” noted Carlos Domenech, COO and CFO, SunEdison.
The company has offices in the United States, Canada, Spain, Italy, France and Germany.
“We have worked closely with SunEdison since early 2008 in establishing European operations. I am proud to join the SunEdison global team and bring this successful cooperation to the next level. SunEdison pioneered the solar energy services model in North America and continues to create innovations in financing, design and construction, and long-term operation of PV systems. This will allow us to bring these innovations and our industry-leading quality assurance standards to current and future customers throughout Europe,” said Dr. Dreesmann.
BISS was founded in 2007 by Dr. Dreesmann, a renowned expert in the analysis, delivery and operation of maximum-performance photovoltaic energy systems. Prior to launching BISS, Dreesmann, a 15-year energy industry veteran, previously served as managing director for SunTechnics and BP Solar.
The transaction provides SunEdison with 38 MW of solar photovoltaic (PV) projects under development in Italy and Spain and direct access to 300 MW of project opportunities in Europe. SunEdison has more than 68 MW of solar under management globally, with 9 MW of PV systems in Spain. Terms of the deal and projects were not disclosed.
In addition, SunEdison named BISS managing director Gerwin Dreesmann, as General Manager, Europe.
“The BISS acquisition, which provides SunEdison direct access to 300 MW of project opportunities, accelerates our European expansion. Gerwin and the BISS team have an excellent reputation in Germany and unparalleled insight into the European market. They share our rigorous focus on quality assurance in system execution and delivery of solar services. I look forward to working closely with Gerwin as he oversees our operations in Europe,” noted Carlos Domenech, COO and CFO, SunEdison.
The company has offices in the United States, Canada, Spain, Italy, France and Germany.
“We have worked closely with SunEdison since early 2008 in establishing European operations. I am proud to join the SunEdison global team and bring this successful cooperation to the next level. SunEdison pioneered the solar energy services model in North America and continues to create innovations in financing, design and construction, and long-term operation of PV systems. This will allow us to bring these innovations and our industry-leading quality assurance standards to current and future customers throughout Europe,” said Dr. Dreesmann.
BISS was founded in 2007 by Dr. Dreesmann, a renowned expert in the analysis, delivery and operation of maximum-performance photovoltaic energy systems. Prior to launching BISS, Dreesmann, a 15-year energy industry veteran, previously served as managing director for SunTechnics and BP Solar.
Evolution Solar Selected as Partner to Pursue 5mw Solar Project
TEMPE, Ariz.--(BUSINESS WIRE)--Evolution Solar Corp. (Pink Sheets:EVSO) was selected by Atlantic Energy Solutions Inc. of Saratoga Springs, New York, to serve as a partner to pursue the development of a 5 megawatt Solar Plant in southern Florida. The $400,000,000.00 plant will be funded by a private Florida developer and will be built, operated, and maintained by the partnership. \"We are past the RFQ stage and are now detailing final negotiations,\" stated Tim Brock, CEO of Atlantic Energy Solutions.
Atlantic Energy Solutions Inc. (Pink Sheets:AESO) is a globally accredited Energy Efficiency and Resource Company and member of NAESCO (www.naesco.org), that identifies, implements and finances energy efficiency projects designed to improve the overall efficiency, water usage, and renewable resources reducing dependency on foreign oil and diminishing our carbon footprint. Atlantic Energy Solutions assesses the energy demands and usages of municipal, corporate, and industrial complexes to improve conservation and apply measures to bolster savings at the consumer level. Honeywell (NYSE:HON), Johnson Controls (NYSE:JCI), and Siemens (NYSE:SI) are among the well-known members of NAESCO.
\"We welcome the opportunity to work with a highly accredited organization such as Atlantic Energy and feel that this is the beginning of a mutually beneficial relationship,\" remarked Robert Kaapke, CEO of Evolution Solar Corp.
Solar stocks began a strong move upward Wednesday. The surge was attributed to President Obama\'s plan for alternative energy. GT Solar (NASDAQ:SOLR) increased 7.67%, Sun-Power (NASDAQ:SPWR) increased $1.65, Kyocera Corp. (NYSE:KYO) gained $2.31 per share while Evolution Solar (OTC:EVSO) maintained its momentum with a three day move in excess of 20%.
Atlantic Energy Solutions Inc. (Pink Sheets:AESO) is a globally accredited Energy Efficiency and Resource Company and member of NAESCO (www.naesco.org), that identifies, implements and finances energy efficiency projects designed to improve the overall efficiency, water usage, and renewable resources reducing dependency on foreign oil and diminishing our carbon footprint. Atlantic Energy Solutions assesses the energy demands and usages of municipal, corporate, and industrial complexes to improve conservation and apply measures to bolster savings at the consumer level. Honeywell (NYSE:HON), Johnson Controls (NYSE:JCI), and Siemens (NYSE:SI) are among the well-known members of NAESCO.
\"We welcome the opportunity to work with a highly accredited organization such as Atlantic Energy and feel that this is the beginning of a mutually beneficial relationship,\" remarked Robert Kaapke, CEO of Evolution Solar Corp.
Solar stocks began a strong move upward Wednesday. The surge was attributed to President Obama\'s plan for alternative energy. GT Solar (NASDAQ:SOLR) increased 7.67%, Sun-Power (NASDAQ:SPWR) increased $1.65, Kyocera Corp. (NYSE:KYO) gained $2.31 per share while Evolution Solar (OTC:EVSO) maintained its momentum with a three day move in excess of 20%.
GWS Technologies, Inc. adds iPhone Solar Chargers to its Microgeneration Product Line
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GWS Technologies, Inc. (OTCBB: GWSC) an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today announced that it has added Solar Arcadia’s iPhone Solar Chargers to its line of innovative microgeneration products.
“Solar Arcadia has come up with a tremendous product that lets consumers power their electronic devices with free, clean solar power,” said Michael Coskun, Vice President of GWS Technologies. “With over 13 million iPhones sold worldwide, this product has enormous market potential, and we are excited to be able to add the iPhone Solar Charger to our revenue stream.”
The iPhone Solar Charger can use natural or artificial light. It is sleek, highly functional, simple to operate and may also be used with an iTouch. It is available at www.greenwindsolar.com/store and is offered in black and white.
“Solar Arcadia has come up with a tremendous product that lets consumers power their electronic devices with free, clean solar power,” said Michael Coskun, Vice President of GWS Technologies. “With over 13 million iPhones sold worldwide, this product has enormous market potential, and we are excited to be able to add the iPhone Solar Charger to our revenue stream.”
The iPhone Solar Charger can use natural or artificial light. It is sleek, highly functional, simple to operate and may also be used with an iTouch. It is available at www.greenwindsolar.com/store and is offered in black and white.
Yes! Solar, Inc. Sells Two Northern California Territories
ROSEVILLE, Calif.--(BUSINESS WIRE)--Yes! Solar, Inc., a wholly owned subsidiary of Solar Power, Inc. (OTCBB:SOPW), announced today that it has executed franchise agreements for two additional California territories, extending coverage for the San Francisco bay area, and is adding coverage on California’s central coast region. The newest Yes! Solar SolutionsTM operation will serve California’s central coast through a territory that extends from Santa Cruz to San Miguel, California. Combined with existing contiguous territories, the newest California territories in the Yes! Solar Solutions franchise network extends reach to support more than one million owner occupied homes and many businesses that can benefit from Yes! Solar Solutions’ photovoltaic solar energy systems.
The new central coast franchise operation has been purchased by All In One Contractors Inc. based in Morgan Hill, CA. The franchise territory harbors approximately 156,000 owner occupied dwellings and numerous businesses throughout its 5,375 square miles. Borders of the new market area extend from Boulder Creek, near Santa Cruz, at the north, Carmel to the west, San Benito to the east and reach almost to San Miguel at the territory’s southernmost point.
“We are very impressed with the Yes! Solar Solutions product line of home energy systems. We are also very excited about this agreement,” said Mehyeddine Alayleh, Vice President of Marketing for All In One Contractors Inc. “As the number of people turning to renewable energy grows, we look forward to providing them with the solar solutions they need. Combined with California’s Solar Initiative rebate program and the recent addition of the 30% Federal Investment Tax Credit for homeowners purchasing a solar energy system, the opportunity for us to leverage our team’s collective experience couldn’t be better,” Alayleh said.
Trade Dimensions, Inc. (“TDI”) located in Pleasanton, CA, who recently purchased the Yes! Solar Solutions east bay area territory, have also purchased the south bay area territory, extending their overall area to include the greater San Jose region. The additional territory adds 324,000 owner occupied homes and thousands of prospective business customers to their market. The additional territory will host another Yes! Solar Solutions retail location. The east bay and south bay territories will be served by a single distribution hub also operated by TDI and located in Hayward, CA.
“Extending our market area into the south bay area is an excellent addition to our business,” said James Gitas, Vice President of Marketing. “As long-time residents of the bay area it is a real pleasure to be able to provide these communities with products and services that deliver a true win-win solution. Not only can we serve the environment, we are also providing home and business owners with energy independence and a means to reduce or eliminate their electricity costs.”
“These two recent additions extend our reach and bring a very experienced group of business professionals to California’s central coast and to our growing franchise network. With two additional San Francisco bay area territories remaining, and rising electricity rates, the bay area has become one of our fastest growing regions,” said Jeff Pontius, Executive Vice President for Yes! Solar, Inc. “In the current economic climate, the renewable energy industry, and solar energy specifically, offer a great deal of promise for the foreseeable future. We look forward to serving the home and business owners of the greater San Francisco bay with our solar energy solutions and a growing number of solar product innovations. More importantly, we look forward to making a difference in the communities our franchise owners serve.” Yes! Solar, Inc. is actively seeking franchisees for the two remaining territories within the greater San Francisco bay area.
The new central coast franchise operation has been purchased by All In One Contractors Inc. based in Morgan Hill, CA. The franchise territory harbors approximately 156,000 owner occupied dwellings and numerous businesses throughout its 5,375 square miles. Borders of the new market area extend from Boulder Creek, near Santa Cruz, at the north, Carmel to the west, San Benito to the east and reach almost to San Miguel at the territory’s southernmost point.
“We are very impressed with the Yes! Solar Solutions product line of home energy systems. We are also very excited about this agreement,” said Mehyeddine Alayleh, Vice President of Marketing for All In One Contractors Inc. “As the number of people turning to renewable energy grows, we look forward to providing them with the solar solutions they need. Combined with California’s Solar Initiative rebate program and the recent addition of the 30% Federal Investment Tax Credit for homeowners purchasing a solar energy system, the opportunity for us to leverage our team’s collective experience couldn’t be better,” Alayleh said.
Trade Dimensions, Inc. (“TDI”) located in Pleasanton, CA, who recently purchased the Yes! Solar Solutions east bay area territory, have also purchased the south bay area territory, extending their overall area to include the greater San Jose region. The additional territory adds 324,000 owner occupied homes and thousands of prospective business customers to their market. The additional territory will host another Yes! Solar Solutions retail location. The east bay and south bay territories will be served by a single distribution hub also operated by TDI and located in Hayward, CA.
“Extending our market area into the south bay area is an excellent addition to our business,” said James Gitas, Vice President of Marketing. “As long-time residents of the bay area it is a real pleasure to be able to provide these communities with products and services that deliver a true win-win solution. Not only can we serve the environment, we are also providing home and business owners with energy independence and a means to reduce or eliminate their electricity costs.”
“These two recent additions extend our reach and bring a very experienced group of business professionals to California’s central coast and to our growing franchise network. With two additional San Francisco bay area territories remaining, and rising electricity rates, the bay area has become one of our fastest growing regions,” said Jeff Pontius, Executive Vice President for Yes! Solar, Inc. “In the current economic climate, the renewable energy industry, and solar energy specifically, offer a great deal of promise for the foreseeable future. We look forward to serving the home and business owners of the greater San Francisco bay with our solar energy solutions and a growing number of solar product innovations. More importantly, we look forward to making a difference in the communities our franchise owners serve.” Yes! Solar, Inc. is actively seeking franchisees for the two remaining territories within the greater San Francisco bay area.
Wednesday, January 21, 2009
Petersen-Dean, Inc. Acquires OCR Solar & Roofing
NEWARK, Calif.--(BUSINESS WIRE)--Petersen-Dean, Inc. today announced the acquisition of OCR Solar & Roofing (OCR), further strengthening its position as the largest solar and roofing contractor in California and the U.S. As part of the acquisition, Petersen-Dean will also form a new subsidiary company, PD Solar, Inc., providing specialized expertise and quality, turn-key solar solutions for both residential and commercial applications.
Headquartered in Newark, Calif., Petersen-Dean operations include 20 field offices located throughout California, Arizona, Nevada, Texas and Florida. The Vacaville-based company OCR brings the greatest reach for solar and roofing in Northern California, with particular expertise in new home construction.
“Petersen-Dean is proud to unite with OCR for a combined 65 years experience in top-quality roofing and solar installations,” said Jim Petersen, president and CEO of Petersen-Dean. “This acquisition and the development of PD Solar reinforces our commitment to provide integrated solar solutions that help companies and individual homeowners save energy costs and do the right thing for the environment.”
Senior leadership at OCR will help run Petersen-Dean roofing projects in Northern California and be instrumental in developing the new PD Solar. OCR employees will immediately integrate with the Petersen-Dean family to continue providing top quality service and workmanship throughout Northern California.
“We are very pleased to join Petersen-Dean, Inc.,” said Dieter Folk, CEO of OCR. “This is an opportunity for us to extend the roofing knowledge and skills we have developed as a company over the past 35 years, while helping to drive solar roofing solutions across the nation.”
CEO of Evolution Solar Comments on Solar's Future
TEMPE, Ariz.--(BUSINESS WIRE)--Robert Kaapke, CEO of Evolution Solar Corp. (OTC: EVSO), provided guidance on Solar's future.
According to research done by The Solar Electric Power Association (SEPA), in 2008 over 5,000 megawatts of new photovoltaic and concentrating solar power projects were announced, and with the 8-year extension of the federal investment tax credit (ITC), the market is expected to grow significantly. Along with the tax credit extension, the revised ITC also allows electric utilities to utilize the credit for the first time, by both owning or investing in solar projects, potentially creating a critical source of new projects and capital financing during the current economic downturn. The effect of the ITC extension combined with the expansion of global solar manufacturing, rapidly declining costs and price curves, and federal and state environmental policies lays a foundation for utility solar innovation at unparalleled scales. In addition, the potential effect of the new administration's stimulus package with an emphasis on renewable energy is anticipated to be very dramatic as well.
"This is one of those times when we separate the wheat from the shaft and differentiate which solar companies are making the appropriate adjustments to move forward and thrive," stated Robert Kaapke CEO of Evolution Solar Corp. "We made a strong commitment to provide product procurement to our clients utilizing all the advantages the Asian markets have to offer and will continue to move forward in an aggressive fashion," Mr. Kaapke added.
According to the China Solar Association, China produced solar modules with an output of 1180 megawatts in 2008 making it the number one producer in the world, and the China Daily reports that there will be a 9.6% rise in gigawatt installizations of solar panels in 2009, growing to 4.2gw for the year, up from 3.8gw in 2008. The European Photovoltaic Industry Association predicted the United States will overtake Germany as the largest solar market in the world by 2012 with President Obama's strong support for green energy.
In a vote of confidence, Abu Dhabi, an oil-rich country, elected to move forward with its ambitious project to build a zero-emission technology utopia in the desert and named China's Suntech Power Holdings Co. Ltd. (NYSE:STP) Sunday as the second company that is providing 5 megawatts worth of solar panels for the power plant. First Solar (NASDAQ:FSLR), based in Tempe, Arizona, made it known three days earlier that it won the other 5 megawatts.
Napa Valley Eco-Resort Adds To It's Green Credentials
NAPA VALLEY, Calif.--(BUSINESS WIRE)--To put it simply, the Earth Tub System is a giant vessel. It’s a 68-inch by 90-inch, 450-pound, fully enclosed food waste composter powered by an auger motor and aerobically filtered by a bio-filtrating air purification system. The latter is essential for keeping odors at bay.
As part of a commitment to make the Napa Valley’s new Bardessono hotel, spa and restaurant one of the greenest and healthiest in the world, eco-developer Phil Sherburne added the Earth Tub to his long list of environmental initiatives. Composting waste and returning it to the grounds is one of many ways Bardessono intends to foster efficiency among its own staff and guests.
Guests generate waste. The kitchen generates waste. With the Earth Tub, yesterday’s scraps from the private dinner Chef Sean O’Toole created for 16 becomes today’s nutrient-rich fertilizer for the organic winter greens in Lucy’s Garden. Everything is broken down on site. Nothing gets hauled away.
Here’s how it works. The staff at Bardessono loads organic materials – food scraps, yard waste, and manure – into the tub, which will be discreetly situated on the loading dock away from guest view. A few times a week, they shred and mix any new organic material into the active compost. Because the tub generates 100-plus degree temperatures, food scraps rapidly break down. Waste is reduced by about 70-percent or more. Any liquid byproducts are collected and filtered into a sanitary holding tank in order to maintain the highest levels of cleanliness.
The Earth Tub can process up to 500 pounds of biomass each day and break it down into about 150 pounds of compost, which makes this self-contained unit ideal for a 62-suite hotel, spa and restaurant. As guest and service capacity increases, the system’s modular design makes it possible to increase the tub’s capacity.
Additional sustainable initiatives at Bardessono include a 200- kilowatt photo-voltaic solar energy system, a series of 82 geothermal wells for in-room temperature control, LED light fixtures, Low-VOC materials in every room, low water flow fixtures, dual flush toilets, drip irrigation and a landscape design using drought-resistant foliage. All of these efforts serve to enhance guest experiences while adhering to Bardessono’s Deep Green philosophy to reduce resource use, conserve energy and tread lightly upon the land.
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