SOUTH BEND, Ind., March 30 /PRNewswire/ -- Inovateus Solar is pleased to announce its plans for the installation of a 150kW solar power array project at the Torresen Marine facility in Muskegon, Michigan, representing the largest solar power project to date in the State of Michigan. Inovateus Solar is partnering with project manager Chart House Energy and Torresen Marine, to provide the marina and the community of Muskegon with a new power source atop Torresen's existing 28,000 square foot sailboat storage facility.
Inovateus Solar, Chart House Energy and Torresen Marine are partnering on this $740,000 solar power development. The new system will offset the power of the Torresen Marine facility by 30 percent and produce the equivalent energy it takes to power 20 homes in the Muskegon area.
Inovateus specified 750 Scheuten Solar USA panels for the project that will become the first application of this Scheuten Solar technology in the United States. "We chose Scheuten Solar technology for this installation because their high-quality modules are a great application for solar power in the harsh environment of snow, ice and high winds near Lake Michigan," explained T.J. Kanczuzewski, Executive Vice President of Inovateus Solar.
Torresen Marine, a family owned fixture on the Muskegon, Michigan waterfront since 1965, was first approached by Robert Rafson, president of Chart House Energy, a renewable independent power producer (IPP), because of Torresen's environmental reputation of "clean and green" business practices.
"Torresen was one of the first marinas in Michigan to achieve a certified clean business standard," said Rafson. "The way in which they operate their business is very eco-friendly making them a perfect candidate for solar power," said Rafson.
"We were approached by Chart House Energy for this project with the concept of what was available between federal stimulus funds, a feed-in tariff program from Consumer's Energy and the potential to do the right thing for the environment with renewable energy," said Brian Torresen, co-owner of Torresen Marine. "Our sailboat customers are very environmentally friendly. Our waterfront location was also a perfect fit for the technology Inovateus Solar specified for us with the high winds keeping the snow off the panels," he added.
Torresen Marine, a marina known for its new and brokerage sailboat sales, specialty sailboat rigging, service and storage throughout the Great Lakes region, manages 150 slips and storage for 600 sailboats. The company employs 35 from its 17-acre facility on the Muskegon waterfront.
Mayor of Muskegon, Steve Warmington, is excited about the project, one of many of the burgeoning sustainable, eco-friendly projects in his region. "We're thrilled that Torresen Marine and Chart House Energy are taking a leadership role in renewable energy in the state of Michigan to produce this solar energy project right here in Muskegon," said Warmington.
T.J. Kanczuzewski of Inovateus Solar stated that this project is a perfect example of how his company's ability to match technology to the region demonstrates that solar power is a viable energy alternative here in the Midwest.
"Since we offer so many solar solutions to our clients, we can meet the power requirements of the most extreme environments. The front-side load of the Scheuten panels have the equivalent of 110 pounds per square foot and uses 4-millimeter glass which is 25 percent thicker than the industry standard of 3.2 millimeters. Over one Gigawatt of Scheuten Solar panels have been installed in Europe and a large percentage of these projects are in Germany, a country that actually receives less sunlight than Michigan. We are very excited to be working with Chart House Energy, Torresen Marine and Scheuten Solar USA on this ground breaking project in Muskegon, Michigan."
Tuesday, March 30, 2010
Clear Skies Solar Discusses Future Growth
MINEOLA, N.Y., March 30 /PRNewswire-FirstCall/ -- Clear Skies Solar, Inc. (CSS) (OTC Bulletin Board: CSKH), a full-service renewable energy provider to commercial, industrial, and agricultural clients today announced its anticipated performance in the first quarter of 2010 and discussed the future prospects available for the balance of the year. CSS had generated revenue of $2,400,000 in 2008, the first year of operations as a public entity and due to the financial crisis could not complete an additional $10 million in projects that same year. With financial markets in flux or non-existent through 2009, CSS generated $200,000 primarily from a 3-month consulting contract with Toshiba Corporation.
For the first quarter of 2010, the Company is expected to generate revenues of approximately $1,750,000, which represents 75% of the total revenue level the Company achieved during the full year 2008 and much more than was realized during all of 2009. Clear Skies' management team sees continued growth moving forward into the remainder of this year 2010 and expects the next three quarters to show substantial growth as the credit markets demonstrate renewed stability and consistency.
Clear Skies CEO Ezra Green commented, "With several additional projects awaiting engineering results, as well as projects already under letters of intent, we fully expect to continue expanding our revenues beyond our solid first quarter 2010 results. Importantly, we are also pleased to announce that we have implemented a streamlined process to help our clients pursue project financing."
"With strong strategic allies and high level client relationships, we have developed a large outstanding backlog of proposals exceeding $100 million, much of which is in the sub-megawatt arena. These sub-megawatt projects should allow us to complete work more quickly and with a shorter development lead time, thus stabilizing our revenue generation. With this strategy in place our shortened financing cycle, development and installation times, we currently expect to report a minimum of $16,000,000 in revenue for 2010 with expected average project gross profit margins at 15%," said Mr. Green. Continuing, "These forecasts do not include any Utility projects or Utility scale projects as the cycles can take several quarters to close making it difficult to anticipate start times".
CSS has been recognized as a premier solar design and installation company that continues to reach new levels of cost effectiveness. Because the organization has the proven capacity to construct systems at the rate of 200kw, approximately $900,000, per week using only its existing in-house infrastructure, it is expected that little or no additional staff will be need to achieve the forecasted 2010 revenue level of $16 million.
For the first quarter of 2010, the Company is expected to generate revenues of approximately $1,750,000, which represents 75% of the total revenue level the Company achieved during the full year 2008 and much more than was realized during all of 2009. Clear Skies' management team sees continued growth moving forward into the remainder of this year 2010 and expects the next three quarters to show substantial growth as the credit markets demonstrate renewed stability and consistency.
Clear Skies CEO Ezra Green commented, "With several additional projects awaiting engineering results, as well as projects already under letters of intent, we fully expect to continue expanding our revenues beyond our solid first quarter 2010 results. Importantly, we are also pleased to announce that we have implemented a streamlined process to help our clients pursue project financing."
"With strong strategic allies and high level client relationships, we have developed a large outstanding backlog of proposals exceeding $100 million, much of which is in the sub-megawatt arena. These sub-megawatt projects should allow us to complete work more quickly and with a shorter development lead time, thus stabilizing our revenue generation. With this strategy in place our shortened financing cycle, development and installation times, we currently expect to report a minimum of $16,000,000 in revenue for 2010 with expected average project gross profit margins at 15%," said Mr. Green. Continuing, "These forecasts do not include any Utility projects or Utility scale projects as the cycles can take several quarters to close making it difficult to anticipate start times".
CSS has been recognized as a premier solar design and installation company that continues to reach new levels of cost effectiveness. Because the organization has the proven capacity to construct systems at the rate of 200kw, approximately $900,000, per week using only its existing in-house infrastructure, it is expected that little or no additional staff will be need to achieve the forecasted 2010 revenue level of $16 million.
Solar Power, Inc. to Present at the 6th Annual Spring Growth Stock Conference Hosted by Security Research Associates, Inc.
ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI”) (OTCBB:SOPW) announced today that Mr. Stephen Kircher, Chairman and CEO of Solar Power, Inc., will be presenting at the 6th Annual Spring Growth Stock Conference hosted by Security Research Associates, Inc. The conference will be held on Tuesday, April 6th at the Omni Hotel in San Francisco, California.
Mr. Kircher’s presentation will cover the Company’s earnings for 2009; provide insight into the Company’s new positioning strategy and recent announcements regarding manufacturing in the U.S. and the Company’s utilization of Recovery Zone Facility Bonds. Mr. Kircher’s presentation will also include a discussion of pipeline opportunities and milestones for 2010 which are aimed at strengthening the Company’s U.S. operations and its position to capitalize on growing opportunities for solar energy across the country. A copy of the presentation will be available at www.solarpowerinc.net after the conference has concluded and will be archived for 90 days.
Conference attendees will include a select group of institutional portfolio managers and analysts, and will feature CEO’s and CFO’s from some of the fastest growing companies in the technology sector.
About Solar Power, Inc.:
Founded in 2005, Solar Power, Inc. is a vertically integrated solar developer; the Company manages its value chain from material sourcing, to manufacturing through post-installation asset management of its systems and manufactures its own line of world-class solar modules and balance-of-system products. The Company designs, manufactures and delivers world-class photovoltaic solar systems to its residential, business, government and utility customers. For additional information visit: www.solarpowerinc.net.
Mr. Kircher’s presentation will cover the Company’s earnings for 2009; provide insight into the Company’s new positioning strategy and recent announcements regarding manufacturing in the U.S. and the Company’s utilization of Recovery Zone Facility Bonds. Mr. Kircher’s presentation will also include a discussion of pipeline opportunities and milestones for 2010 which are aimed at strengthening the Company’s U.S. operations and its position to capitalize on growing opportunities for solar energy across the country. A copy of the presentation will be available at www.solarpowerinc.net after the conference has concluded and will be archived for 90 days.
Conference attendees will include a select group of institutional portfolio managers and analysts, and will feature CEO’s and CFO’s from some of the fastest growing companies in the technology sector.
About Solar Power, Inc.:
Founded in 2005, Solar Power, Inc. is a vertically integrated solar developer; the Company manages its value chain from material sourcing, to manufacturing through post-installation asset management of its systems and manufactures its own line of world-class solar modules and balance-of-system products. The Company designs, manufactures and delivers world-class photovoltaic solar systems to its residential, business, government and utility customers. For additional information visit: www.solarpowerinc.net.
Recurrent Energy to Develop 15 MW of Solar Projects at Kaiser Permanente Facilities
SAN FRANCISCO--(BUSINESS WIRE)--Recurrent Energy, an independent power producer and a leading developer of solar power projects, today announced it has signed agreements with Kaiser Permanente to develop 15 MW of solar power systems at multiple locations across California. Recurrent Energy will build, own, and operate 16 solar power systems located across 15 Kaiser Permanente hospitals and office facilities.
“These 16 solar power systems reaffirm the demand for distributed-scale projects, which can be aggregated to generate a significant amount of power,” said Arno Harris, CEO of Recurrent Energy. “We have over 1 GW of distributed-scale projects in development across North America and Europe, and this project reinforces the role that commercial and industrial rooftops can play in distributed-scale solar power deployment.”
The 16 solar power systems will be implemented across the 15 sites through rooftop solar, ground mount solar, and elevated solar above existing ground-level parking spaces and garages. Several projects are underway and all sites are expected to be completed by the summer of 2011.
“Kaiser Permanente sees renewable and clean energy as a key part of our environmental and sustainability strategy,” said John Kouletsis, director of strategy, planning and design at Kaiser Permanente. “As a health care organization, we are concerned with the health of our patients and our communities.”
Citigroup, an equity investor on a portion of the projects, was a key partner in structuring the agreements between Recurrent Energy and Kaiser Permanente.
“These 16 solar power systems reaffirm the demand for distributed-scale projects, which can be aggregated to generate a significant amount of power,” said Arno Harris, CEO of Recurrent Energy. “We have over 1 GW of distributed-scale projects in development across North America and Europe, and this project reinforces the role that commercial and industrial rooftops can play in distributed-scale solar power deployment.”
The 16 solar power systems will be implemented across the 15 sites through rooftop solar, ground mount solar, and elevated solar above existing ground-level parking spaces and garages. Several projects are underway and all sites are expected to be completed by the summer of 2011.
“Kaiser Permanente sees renewable and clean energy as a key part of our environmental and sustainability strategy,” said John Kouletsis, director of strategy, planning and design at Kaiser Permanente. “As a health care organization, we are concerned with the health of our patients and our communities.”
Citigroup, an equity investor on a portion of the projects, was a key partner in structuring the agreements between Recurrent Energy and Kaiser Permanente.
EVSO and TSU Make Advances on Solar Demonstration Site Project
THE WOODLANDS, Texas--(BUSINESS WIRE)--Management of Evolution Solar (Pink Sheets: EVSO) announced that the Company and Texas Southern University have selected a potential site on the University’s Houston Campus, pending final approvals by TSU Provost, for the solar demonstration project they are jointly developing. The solar demonstration site is an opportunity for Evolution Solar to exhibit a functional product. The University will utilize students and faculty to assist in the design and engineering of the project. The project location is slated to be an integral part of a new TSU “Green Technology Center.”
Dr. David Olowokere, Chair/Professor of the TSU Department of Engineering Technologies, stated, "We look forward to our partnership with Evolution Solar as this is one of the first steps in the development of our Green Technology Center."
Dr. Olowokere is the University’s assigned point person on the project. The University also plans to use the site for additional research and development to benefit TSU, its students and ultimately the consumer.
"A Green Technology Center on campus is just the start for what's to come out of Texas Southern University," stated Robert Hines, President of Evolution Solar.
The solar demonstration project should help Evolution Solar acquire new projects in a sector that is growing to compete in the energy industry, which contains BP (NYSE: BP), Valero Energy Corporation (NYSE: VLO), Chevron (NYSE: CVX) and Chesapeake Energy (NYSE: CHK).
Dr. David Olowokere, Chair/Professor of the TSU Department of Engineering Technologies, stated, "We look forward to our partnership with Evolution Solar as this is one of the first steps in the development of our Green Technology Center."
Dr. Olowokere is the University’s assigned point person on the project. The University also plans to use the site for additional research and development to benefit TSU, its students and ultimately the consumer.
"A Green Technology Center on campus is just the start for what's to come out of Texas Southern University," stated Robert Hines, President of Evolution Solar.
The solar demonstration project should help Evolution Solar acquire new projects in a sector that is growing to compete in the energy industry, which contains BP (NYSE: BP), Valero Energy Corporation (NYSE: VLO), Chevron (NYSE: CVX) and Chesapeake Energy (NYSE: CHK).
Solar Power, Inc. Reschedules Fourth Quarter and Fiscal 2009 Earnings Conference Call
ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI”) (OTCBB: SOPW) announced today that it has postponed its fourth quarter and fiscal 2009 earnings call, originally scheduled for March 31, 2010, until the Company’s audit is complete. Scheduling details for interested participants will be announced in the near future.
About Solar Power, Inc.:
Founded in 2005, Solar Power, Inc. is a vertically integrated developer which manufacturers its own line of world-class solar modules and balance-of-system products, managing all aspects of system development from material sourcing through post-installation system performance monitoring. The Company designs, manufactures and delivers world-class photovoltaic solar systems to a global market of residential, business, government and utility customers. For additional information visit: www.solarpowerinc.net.
About Solar Power, Inc.:
Founded in 2005, Solar Power, Inc. is a vertically integrated developer which manufacturers its own line of world-class solar modules and balance-of-system products, managing all aspects of system development from material sourcing through post-installation system performance monitoring. The Company designs, manufactures and delivers world-class photovoltaic solar systems to a global market of residential, business, government and utility customers. For additional information visit: www.solarpowerinc.net.
Aide Solar Panels Installed at Phoenix Non-Profit Organization Horses Help as Part of Self-Sustaining Green Urban Farm Model
TEMPE, Ariz.--(BUSINESS WIRE)--Aide Solar (http://www.aidesolar.com), a large-scale producer of photovoltaic (PV) modules, today announced that its 180 watt mono-crystalline solar panels have been installed at Non-Profit Organization Horses Help in Phoenix as part of a larger Urban Farm Model designed by the therapeutic riding center to conserve resources and control costs. In addition to the solar panels, a composting system, a water cistern, a weather station and a community garden all contribute to a system of sustainable green solutions.
“The entire project fits in well with our overall organizational goals which are education and rehabilitation,” said Gregg Goodman, executive director, Horses Help Therapeutic Riding Center. “Not only will we be able to serve more of the special needs population with the money we save, we have created a model that we can teach to other non-profit organizations.”
With the installation of the current components nearly complete, Goodman says future plans call for additional solar panels, a geothermal cooling and heating system and a series of classes to teach others the interworking relationships of conservation and sustainability with a hands-on component of gardening, composting and water harvesting.
Thomas Carter III, project manager of Horses Help's sustainability project, believes that solar has a big role to play in helping non-profit groups and people in low income brackets cut anticipated electricity costs.
“The way I look at it, every kilowatt of energy saved has the potential to benefit another person in need,” Carter said. “You can drastically cut anticipated electricity costs through the installation of solar modules and greatly benefit from the sustainable savings.”
The Phase-I solar installation at Horses Help has 3.6kW of capacity that will provide power for the educational facility and administrative offices.
A Phase-II solar installation will power the large DC driven fans used in the composting process. When the fans are not in use, the power generated will be used to meet other off-grid electrical needs of the composting and permaculture operations.
“Having our solar modules as part of this unique sustainability project in a non-profit organization is very rewarding,” said Raymond C. Wiley, director, North America Sales, Aide Solar, U.S.A. and member of the Arizona Department of Commerce’s Green Economy Advisory Committee. “The Horses Help Urban Farm Model is just one more example of how solar can be integrated into a larger Green concept. The people at Horses Help deserve a tremendous amount of credit for implementing it.”
“The entire project fits in well with our overall organizational goals which are education and rehabilitation,” said Gregg Goodman, executive director, Horses Help Therapeutic Riding Center. “Not only will we be able to serve more of the special needs population with the money we save, we have created a model that we can teach to other non-profit organizations.”
With the installation of the current components nearly complete, Goodman says future plans call for additional solar panels, a geothermal cooling and heating system and a series of classes to teach others the interworking relationships of conservation and sustainability with a hands-on component of gardening, composting and water harvesting.
Thomas Carter III, project manager of Horses Help's sustainability project, believes that solar has a big role to play in helping non-profit groups and people in low income brackets cut anticipated electricity costs.
“The way I look at it, every kilowatt of energy saved has the potential to benefit another person in need,” Carter said. “You can drastically cut anticipated electricity costs through the installation of solar modules and greatly benefit from the sustainable savings.”
The Phase-I solar installation at Horses Help has 3.6kW of capacity that will provide power for the educational facility and administrative offices.
A Phase-II solar installation will power the large DC driven fans used in the composting process. When the fans are not in use, the power generated will be used to meet other off-grid electrical needs of the composting and permaculture operations.
“Having our solar modules as part of this unique sustainability project in a non-profit organization is very rewarding,” said Raymond C. Wiley, director, North America Sales, Aide Solar, U.S.A. and member of the Arizona Department of Commerce’s Green Economy Advisory Committee. “The Horses Help Urban Farm Model is just one more example of how solar can be integrated into a larger Green concept. The people at Horses Help deserve a tremendous amount of credit for implementing it.”
Monday, March 29, 2010
MP2 Capital Completes Solar PV System to Power Connecticut School District
WINSTED, CT--(Marketwire - March 29, 2010) - MP2 Capital, a leading developer, financier and operator of solar projects throughout North America, announced the commissioning of a 445 kilowatt solar photovoltaic (PV) array in Winsted, Connecticut. MP2 Capital has entered into a power purchase agreement to sell all of the electricity generated by the system to the Regional School District No. 7 for a period of 20 years. This clean energy project was made possible by a grant from the Connecticut Clean Energy Fund (CCEF).
"This represents MP2 Capital's second completed project in the state of Connecticut. We are pleased to partner with the School District to help improve the environment -- both by reducing the carbon footprint of the school district and creating a shining example of clean, renewable energy for the students and the community," said Mark Lerdal, chief executive officer of MP2 Capital.
The system, which sits atop multiple rooftops of the school district, was built by groSolar and is composed of 1,937 PV panels from Canadian Solar. It is expected to produce approximately 492,000 kilowatt hours (kWh) of clean solar electricity and save the School District an estimated $26,000 in energy costs during the first year of the operation. Over the term of the agreement, the system is expected to produce approximately 9,380,000 kWh to offset the school's energy use.
"This solar project has energized our students, staff and larger community by providing a concrete example of what can be done to reduce a school's carbon footprint. As we anticipated, the students have become the leaders in advocating for clean and sustainable energy for our school district. They are proud of the solar panels on the building and excited about the ways this new system has been integrated in the entire school curriculum and school culture," said Clint Montgomery, superintendent of schools for Regional School District 7. "This is a great example of a successful partnership between a public school district and the business community. We are extremely happy with the relationship with MP2 Capital and hope for more projects in the future."
"The solar PV installation at Northwestern High School and Middle School in Regional School District No. 7 will serve as an excellent teaching tool to help educate students about the importance of renewable energy in meeting our future energy needs and protecting the environment," said Lise Dondy, president of CCEF. "We are pleased to see this school district and many educational institutions around the state taking a leadership role in making the commitment to clean energy in such a significant way."
"This represents MP2 Capital's second completed project in the state of Connecticut. We are pleased to partner with the School District to help improve the environment -- both by reducing the carbon footprint of the school district and creating a shining example of clean, renewable energy for the students and the community," said Mark Lerdal, chief executive officer of MP2 Capital.
The system, which sits atop multiple rooftops of the school district, was built by groSolar and is composed of 1,937 PV panels from Canadian Solar. It is expected to produce approximately 492,000 kilowatt hours (kWh) of clean solar electricity and save the School District an estimated $26,000 in energy costs during the first year of the operation. Over the term of the agreement, the system is expected to produce approximately 9,380,000 kWh to offset the school's energy use.
"This solar project has energized our students, staff and larger community by providing a concrete example of what can be done to reduce a school's carbon footprint. As we anticipated, the students have become the leaders in advocating for clean and sustainable energy for our school district. They are proud of the solar panels on the building and excited about the ways this new system has been integrated in the entire school curriculum and school culture," said Clint Montgomery, superintendent of schools for Regional School District 7. "This is a great example of a successful partnership between a public school district and the business community. We are extremely happy with the relationship with MP2 Capital and hope for more projects in the future."
"The solar PV installation at Northwestern High School and Middle School in Regional School District No. 7 will serve as an excellent teaching tool to help educate students about the importance of renewable energy in meeting our future energy needs and protecting the environment," said Lise Dondy, president of CCEF. "We are pleased to see this school district and many educational institutions around the state taking a leadership role in making the commitment to clean energy in such a significant way."
Silicon Valley Solar Pioneer and Wild Brush Energy Announce the Signing of a LOI
SEATTLE, WA--(Marketwire - March 29, 2010) - Wild Brush Energy (PINKSHEETS: WBRE) has signed a Letter of Intent with Californian solar panel manufacturer Auxin Solar. The letter outlines an agreement between Auxin Solar and Wild Brush Energy to supply solar paneling for the Company's U.S. Solar Park Developments.
Auxin Solar is located in the heart of Silicon Valley in Northern California. The Company Founders have over 30 years of silicon design experience. They bring a wealth of experience to photovoltaic module design, manufacturing, and production quality.
The project target size is approximately 4MW. This would provide an annual power output upwards of 5.5 GWh. A solar park of this scale will supply approximately 1200 households with renewable energy, and reduce carbon emissions by about 3100 tons annually.
Part of Wild Brush Energy's diversified renewable energy strategy includes the construction of mid- to large-scale solar parks. These parks will range in size from 2-5 Mw in scale. The location of these parks will be in southern and southwest regions of the U.S. and southern European countries with favorable renewable energy policies and economic returns.
Auxin Solar is located in the heart of Silicon Valley in Northern California. The Company Founders have over 30 years of silicon design experience. They bring a wealth of experience to photovoltaic module design, manufacturing, and production quality.
The project target size is approximately 4MW. This would provide an annual power output upwards of 5.5 GWh. A solar park of this scale will supply approximately 1200 households with renewable energy, and reduce carbon emissions by about 3100 tons annually.
Part of Wild Brush Energy's diversified renewable energy strategy includes the construction of mid- to large-scale solar parks. These parks will range in size from 2-5 Mw in scale. The location of these parks will be in southern and southwest regions of the U.S. and southern European countries with favorable renewable energy policies and economic returns.
New Farmer-Owned Solar Energy Company Launched
RIDGETOWN, ONTARIO--(Marketwire - March 29, 2010) - A new dynamic community based, farmer-owned solar energy company located in southwestern Ontario was announced last week, called AGRIS Solar Co-operative.
This new solar energy co-operative will operate in partnership with SPARK SOLAR, Ontario based developer of renewable energy projects. SPARK SOLAR will manage installation of the solar units and the day to day business operations.
"The creation of this new solar co-operative will allow local ownership and our members the opportunity to invest and participate in the development of renewable energy within our own communities," says David Malott, AGRIS Solar Co-operatives board president. "Our goal is to construct, install and operate more than 1000 solar units across Ontario, which will provide enough power for 20,000 homes annually" added Malott.
This new solar energy co-operative will take advantage of the incentives provided in the Ontario's Green Energy Act and microFIT (Feed in Tariff) Program which will allow for expanding the electrical grid that allows for long-term price guarantees for investors. "Today's announcement shows the vitality of the Green Energy Act, and its focus on a better economy and a cleaner environment," said Chatham-Kent-Essex MPP Pat Hoy. "I congratulate AGRIS Co-op for their foresight and wish them success with this important venture."
AGRIS Solar Co-operative is expected to have more than $70 million in assets once the enrolment goal of 1,000 installations is reached. Members will be asked to contribute $20,000 towards the capital cost of each installation of a solar module that is capable of generating up to 10 kilowatts of nameplate power. Members will sell the electrical power generated to Ontario Power Authority who is contractually obligated to purchase the power for a period of 20 years at a rate of $0.802 per kilowatt-hour.
AGRIS Solar Co-operative has already signed new members and established a board of directors. Elected to serve as board president is Muirkirk area farmer David Malott, vice president Larry Pajot, a Windsor area farmer and Jim Campbell, general manager of AGRIS Co-operative from the Blenheim area was elected as secretary. Other elected directors are Kim Fysh of Thamesville and Paul Repko, Kingsville.
A series of informational meetings for the public about AGRIS Solar Co-operative are being planned to take place across southwestern Ontario during the first week of April.
This new solar energy co-operative will operate in partnership with SPARK SOLAR, Ontario based developer of renewable energy projects. SPARK SOLAR will manage installation of the solar units and the day to day business operations.
"The creation of this new solar co-operative will allow local ownership and our members the opportunity to invest and participate in the development of renewable energy within our own communities," says David Malott, AGRIS Solar Co-operatives board president. "Our goal is to construct, install and operate more than 1000 solar units across Ontario, which will provide enough power for 20,000 homes annually" added Malott.
This new solar energy co-operative will take advantage of the incentives provided in the Ontario's Green Energy Act and microFIT (Feed in Tariff) Program which will allow for expanding the electrical grid that allows for long-term price guarantees for investors. "Today's announcement shows the vitality of the Green Energy Act, and its focus on a better economy and a cleaner environment," said Chatham-Kent-Essex MPP Pat Hoy. "I congratulate AGRIS Co-op for their foresight and wish them success with this important venture."
AGRIS Solar Co-operative is expected to have more than $70 million in assets once the enrolment goal of 1,000 installations is reached. Members will be asked to contribute $20,000 towards the capital cost of each installation of a solar module that is capable of generating up to 10 kilowatts of nameplate power. Members will sell the electrical power generated to Ontario Power Authority who is contractually obligated to purchase the power for a period of 20 years at a rate of $0.802 per kilowatt-hour.
AGRIS Solar Co-operative has already signed new members and established a board of directors. Elected to serve as board president is Muirkirk area farmer David Malott, vice president Larry Pajot, a Windsor area farmer and Jim Campbell, general manager of AGRIS Co-operative from the Blenheim area was elected as secretary. Other elected directors are Kim Fysh of Thamesville and Paul Repko, Kingsville.
A series of informational meetings for the public about AGRIS Solar Co-operative are being planned to take place across southwestern Ontario during the first week of April.
SunPower Finalizes Acquisition of SunRay
SAN JOSE, Calif., March 29 /PRNewswire-FirstCall/ -- SunPower Corp. ( SPWRA, SPWRB) today announced that it has completed its acquisition of SunRay Renewable Energy, a leading European solar power plant developer with offices in Europe and the Middle East. As a result, SunPower has expanded its project pipeline to include more than 1,200 megawatts (MW) of solar photovoltaic (PV) projects in various stages of development in Italy, France, Israel, Spain, the United Kingdom and Greece. SunRay's power plant development and project finance team consists of approximately 70 employees.
"With this acquisition complete, SunPower is accelerating growth in the Italian market, and pursuing new opportunities in other parts of Europe and Middle East," said Howard Wenger, president of SunPower's utilities and power plants business group. "The acquisition of SunRay provides us with strong visibility in the second half of 2010 and in 2011, and is consistent with our long-term company strategy to develop a strong brand and complementary channels to market."
"We are pleased to join the global solar technology, performance and quality leader for solar power plants," said Yoram Amiga, CEO of SunRay. "The global experience of SunPower and SunRay combined benefits our customers with the delivery of reliable energy at competitive prices."
The total consideration for the acquisition is approximately $277 million, including approximately $263 million in cash and $14 million in promissory notes.
"With this acquisition complete, SunPower is accelerating growth in the Italian market, and pursuing new opportunities in other parts of Europe and Middle East," said Howard Wenger, president of SunPower's utilities and power plants business group. "The acquisition of SunRay provides us with strong visibility in the second half of 2010 and in 2011, and is consistent with our long-term company strategy to develop a strong brand and complementary channels to market."
"We are pleased to join the global solar technology, performance and quality leader for solar power plants," said Yoram Amiga, CEO of SunRay. "The global experience of SunPower and SunRay combined benefits our customers with the delivery of reliable energy at competitive prices."
The total consideration for the acquisition is approximately $277 million, including approximately $263 million in cash and $14 million in promissory notes.
Detroit Edison Invites Business, Education Participants To SolarCurrents Program
DETROIT, March 29 /PRNewswire-FirstCall/ -- Detroit Edison is looking for several businesses and educational institutions with large rooftops or ground area to host solar energy installations that will provide renewable energy and reduce their energy bills.
The utility is starting another aspect of its pilot SolarCurrents program that calls for photovoltaic systems installed on customer rooftops or property to generate 15 megawatts (MW) of electricity throughout its Southeast Michigan service area over the next five years.
"SolarCurrents represents one of the largest distributed solar programs in the country, which will provide opportunities to the emerging solar manufacturing industry," said Trevor Lauer, DTE Energy vice president, Retail Marketing. "The program also will encourage the development of new green energy projects by providing financial incentives to non-residential customers interested in solar energy systems."
Detroit Edison plans to invest more than $100 million in the program, which requires customers to participate for 20 years. The solar energy systems will be owned, installed, operated and maintained by the utility. In return, customers will get an annual credit on their energy bill based on the system size, as well as a one-time, upfront construction payment to cover any inconvenience during installation.
The utility is accepting applications until April 29. Interested participants should own a facility with 15,000 square feet of unobstructed roof in good condition or a similarly sized area on the ground.
Detroit Edison continues to offer incentives to residential customers who install their own photovoltaic systems. For more information on both programs, visit dteenergy.com/solar.
Detroit Edison expects to invest nearly $2 billion in the coming years to add more than 1,200 MW of renewable energy to meet the state's renewable energy goals. In addition to the solar installations, the company plans to acquire or build wind farms and other green energy facilities for half of that capacity, and contract with third party vendors for the rest.
Detroit Edison is an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan and a subsidiary of DTE Energy (NYSE: DTE), a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Information about DTE Energy is available at www.dteenergy.com.
The utility is starting another aspect of its pilot SolarCurrents program that calls for photovoltaic systems installed on customer rooftops or property to generate 15 megawatts (MW) of electricity throughout its Southeast Michigan service area over the next five years.
"SolarCurrents represents one of the largest distributed solar programs in the country, which will provide opportunities to the emerging solar manufacturing industry," said Trevor Lauer, DTE Energy vice president, Retail Marketing. "The program also will encourage the development of new green energy projects by providing financial incentives to non-residential customers interested in solar energy systems."
Detroit Edison plans to invest more than $100 million in the program, which requires customers to participate for 20 years. The solar energy systems will be owned, installed, operated and maintained by the utility. In return, customers will get an annual credit on their energy bill based on the system size, as well as a one-time, upfront construction payment to cover any inconvenience during installation.
The utility is accepting applications until April 29. Interested participants should own a facility with 15,000 square feet of unobstructed roof in good condition or a similarly sized area on the ground.
Detroit Edison continues to offer incentives to residential customers who install their own photovoltaic systems. For more information on both programs, visit dteenergy.com/solar.
Detroit Edison expects to invest nearly $2 billion in the coming years to add more than 1,200 MW of renewable energy to meet the state's renewable energy goals. In addition to the solar installations, the company plans to acquire or build wind farms and other green energy facilities for half of that capacity, and contract with third party vendors for the rest.
Detroit Edison is an investor-owned electric utility serving 2.1 million customers in Southeastern Michigan and a subsidiary of DTE Energy (NYSE: DTE), a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Information about DTE Energy is available at www.dteenergy.com.
Largest First Solar Photovoltaic Power Plant in Spain
GRANADA, Spain, March 29 /PRNewswire/ -- The Spanish system integrator, Assyce Fotovoltaica, is constructing the largest First Solar free-field solar power plant in Extremadura, with a capacity of more than 26 MWp. The power plant with a land area of 69 hectares should be completed by the end of the year and will generate more than 42 million kilowatt-hours of electricity per year.
"The area offers very good conditions for photovoltaics," explains Luis Garrido, managing director of Assyce Fotovoltaica. "Due to the high level of solar radiation in the south of Spain, we can expect a very good yield of electricity." The electricity yield will also benefit from the implementation of a new transformer technology. "In contrast to traditional power plants, electricity loss is considerably reduced," says Luis Garrido. Assyce is also implementing in this project the worldwide established inverter system technology from market-leader SMA Technology AG, based in Kassel, Germany. 36 transformer stations will be built up on the 69-hectare site. With more than 337,000 modules capturing solar radiation, Assyce Fotovoltaica, currently the only First Solar system integrator in Spain, is putting its trust in First Solar's thin film technology which has already proven its worth in many other solar power plants. "The modules are very effective and durable and they are perfect for use in hot climate regions," explains Luis Garrido. The First Solar modules offer a high level of operating reliability for the project. Assyce Fotovoltaica has been working together with First Solar with excellent success for years. Basically this partnership makes the realisation of this remarkable large-scale project possible.
The construction of the free-field solar power plant began at the end of January. The whole power plant should be completed by the end of the year at the latest. With the eco-friendly solar electricity over 30 tonnes of carbon dioxide could be saved every year and the electricity yield is enough to energize more than 14,000 four-person households for a whole year. "We are making an important contribution to the climate protection and to the expansion of renewable energy resources," explains Luis Garrido. "Power from the sun always has a future and will remain an important pillar of renewable energy."
Due to the limitation of 200 Megawatts per year for new free-field solar power plants (since the end of 2008), Assyce is particularly excited about being able to construct a power plant with a dimension of 10% of the total annual volume together with First Solar. Assyce Fotovoltaica is one of the pioneers in the Spanish free-field solar power plant market. The company, based in Padul (Granada), has already constructed more than 12 solar power plants all over Spain over the last few years.
"The area offers very good conditions for photovoltaics," explains Luis Garrido, managing director of Assyce Fotovoltaica. "Due to the high level of solar radiation in the south of Spain, we can expect a very good yield of electricity." The electricity yield will also benefit from the implementation of a new transformer technology. "In contrast to traditional power plants, electricity loss is considerably reduced," says Luis Garrido. Assyce is also implementing in this project the worldwide established inverter system technology from market-leader SMA Technology AG, based in Kassel, Germany. 36 transformer stations will be built up on the 69-hectare site. With more than 337,000 modules capturing solar radiation, Assyce Fotovoltaica, currently the only First Solar system integrator in Spain, is putting its trust in First Solar's thin film technology which has already proven its worth in many other solar power plants. "The modules are very effective and durable and they are perfect for use in hot climate regions," explains Luis Garrido. The First Solar modules offer a high level of operating reliability for the project. Assyce Fotovoltaica has been working together with First Solar with excellent success for years. Basically this partnership makes the realisation of this remarkable large-scale project possible.
The construction of the free-field solar power plant began at the end of January. The whole power plant should be completed by the end of the year at the latest. With the eco-friendly solar electricity over 30 tonnes of carbon dioxide could be saved every year and the electricity yield is enough to energize more than 14,000 four-person households for a whole year. "We are making an important contribution to the climate protection and to the expansion of renewable energy resources," explains Luis Garrido. "Power from the sun always has a future and will remain an important pillar of renewable energy."
Due to the limitation of 200 Megawatts per year for new free-field solar power plants (since the end of 2008), Assyce is particularly excited about being able to construct a power plant with a dimension of 10% of the total annual volume together with First Solar. Assyce Fotovoltaica is one of the pioneers in the Spanish free-field solar power plant market. The company, based in Padul (Granada), has already constructed more than 12 solar power plants all over Spain over the last few years.
Solar Power, Inc. Selects McClellan Business Park for Manufacturing Facility and New World Headquarters
ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (OTCBB: SOPW) announced today that it has selected McClellan Business Park as the site for its U.S. manufacturing facility, subject to finalization of building agreements. As announced on March 9th, the Company has received an initial commitment of $24.7 million in Recovery Zone Facility Bonds (“RZFB”) from Sacramento County and plans to use the proceeds from the sale of these bonds to help finance renovation and outfitting of the manufacturing facility to build its high-performance solar panels. The Company engaged a leading, international middle market investment bank and institutional securities firm to assist with its efforts. A portion of the RZFB Bond proceeds, upon successful placement, will also go in part towards the development of a utility-scale photovoltaic solar system in Sacramento County that will exceed 10 megawatts and have an estimated value of $50 million.
Solar Power, Inc.’s recent announcement of plans to open a major manufacturing operation in Sacramento has garnered attention and support from the State’s capitol, as well as from leading regional business development organizations. Heralding the Company’s move, Governor Schwarzenegger said, “The addition of this renewable energy manufacturing facility is great news for Sacramento and the rest of the State because it will lead to more homes and businesses powered by sunshine while creating jobs in the clean-tech industry. California has led the world in enacting policies that harness the sun, combat climate change and reduce our dependency on foreign oil, and it is companies like Solar Power, Inc. that are helping us reach a more sustainable, clean energy future.”
The proposed manufacturing facility at the McClellan site will be approximately 100,000 square feet with an annual production capacity of 50 megawatts of Solar Power, Inc.’s top-ranked solar panels. It is estimated that the facility will bring 120 new construction jobs to the region during the 9-month construction period and 100 full-time skilled workers and office staff to the facility upon completion. Together with Solar Power, Inc.’s current manufacturing facility in China, the McClellan facility is expected to double the Company’s annual production capacity to 100 megawatts. “We are very excited to have one of the solar industry’s leaders select McClellan Business Park for its world headquarters and manufacturing operations,” said Ken Giannotti, Senior Vice President with McClellan Business Park, LLC. “We couldn’t be more pleased with their decision.”
“Solar Power, Inc.’s announcement is a brilliant example of how green businesses are thriving in the Sacramento region. As a leader in the solar industry, Solar Power, Inc.’s decision to make this commitment to our region’s development is a milestone event for us,” said Robert Burris, Deputy Director for SACTO, the Sacramento Region’s leading facilitator of economic development. Roger Dickinson, Chair of the Sacramento County Board of Supervisors said, “The type of investment Solar Power, Inc. is making in our region is precisely what’s needed to build sustainable economic growth. Sacramento will be the ultimate beneficiary of this move.” And Rob Leonard, Director of Economic Development for Sacramento County said, "Solar Power Inc.'s development at McClellan reinforces Sacramento County as a national focal point for green-tech company growth."
“We are very pleased with our site selection at McClellan Business Park, and the outpouring of support we have received since our initial announcement,” said Steve Kircher, Chairman and CEO of Solar Power, Inc. “The management team at McClellan Business Park has been incredible to work with and helped to make this decision an easy one for us. The site provides an excellent geographic location for us as we pursue a growing number of new business opportunities within California and across the country. It’s the right move at the right time for us,” Mr. Kircher concluded.
Solar Power, Inc. anticipates receiving the bond proceeds and beginning construction on the new headquarters and manufacturing facility in July with completion in early 2011.
Solar Power, Inc.’s recent announcement of plans to open a major manufacturing operation in Sacramento has garnered attention and support from the State’s capitol, as well as from leading regional business development organizations. Heralding the Company’s move, Governor Schwarzenegger said, “The addition of this renewable energy manufacturing facility is great news for Sacramento and the rest of the State because it will lead to more homes and businesses powered by sunshine while creating jobs in the clean-tech industry. California has led the world in enacting policies that harness the sun, combat climate change and reduce our dependency on foreign oil, and it is companies like Solar Power, Inc. that are helping us reach a more sustainable, clean energy future.”
The proposed manufacturing facility at the McClellan site will be approximately 100,000 square feet with an annual production capacity of 50 megawatts of Solar Power, Inc.’s top-ranked solar panels. It is estimated that the facility will bring 120 new construction jobs to the region during the 9-month construction period and 100 full-time skilled workers and office staff to the facility upon completion. Together with Solar Power, Inc.’s current manufacturing facility in China, the McClellan facility is expected to double the Company’s annual production capacity to 100 megawatts. “We are very excited to have one of the solar industry’s leaders select McClellan Business Park for its world headquarters and manufacturing operations,” said Ken Giannotti, Senior Vice President with McClellan Business Park, LLC. “We couldn’t be more pleased with their decision.”
“Solar Power, Inc.’s announcement is a brilliant example of how green businesses are thriving in the Sacramento region. As a leader in the solar industry, Solar Power, Inc.’s decision to make this commitment to our region’s development is a milestone event for us,” said Robert Burris, Deputy Director for SACTO, the Sacramento Region’s leading facilitator of economic development. Roger Dickinson, Chair of the Sacramento County Board of Supervisors said, “The type of investment Solar Power, Inc. is making in our region is precisely what’s needed to build sustainable economic growth. Sacramento will be the ultimate beneficiary of this move.” And Rob Leonard, Director of Economic Development for Sacramento County said, "Solar Power Inc.'s development at McClellan reinforces Sacramento County as a national focal point for green-tech company growth."
“We are very pleased with our site selection at McClellan Business Park, and the outpouring of support we have received since our initial announcement,” said Steve Kircher, Chairman and CEO of Solar Power, Inc. “The management team at McClellan Business Park has been incredible to work with and helped to make this decision an easy one for us. The site provides an excellent geographic location for us as we pursue a growing number of new business opportunities within California and across the country. It’s the right move at the right time for us,” Mr. Kircher concluded.
Solar Power, Inc. anticipates receiving the bond proceeds and beginning construction on the new headquarters and manufacturing facility in July with completion in early 2011.
Constellation Energy Completes Solar and Wind Installation for University of Toledo
BALTIMORE--(BUSINESS WIRE)--Constellation Energy (NYSE:CEG) today announced that its subsidiary, Constellation Energy’s Projects & Services Group, has completed installation of a 1.2 megawatt solar and wind power system at the University of Toledo’s Scott Park Campus of Energy and Innovation in Toledo, Ohio. The campus will utilize solar and wind power to generate electricity and the university’s commitment to sustainability also provides students with firsthand educational experiences with renewable technologies.
“Renewables have a twofold importance for colleges and universities that are looking to improve their sustainability and expose students to careers in alternative energy,” said Mark Huston, managing director of retail energy, Constellation Energy. “We are proud to have developed this project with the University of Toledo and look forward to years of clean energy production as well as years of inspiration for a generation of students that will embark on green careers.”
“The creation and production of clean, renewable energy sources is vital to the way we power our world. That’s why The University of Toledo created the Scott Park Campus of Energy and Innovation,” UT President Dr. Lloyd Jacobs said. “Our relationship with Constellation Energy for the solar and wind electric generation systems on that campus will help students and researchers advance the technology that will power our future.”
The project utilizes thin-film-on-glass photovoltaic solar technology that was originally developed based on research at the University of Toledo. Constellation Energy’s Projects & Services Group also installed a 132-foot wind turbine at the site. Together, the solar and wind systems are expected annually to generate power equivalent to the amount of electricity used by 140 homes in a year. Generating that same amount of electricity using non-renewable sources would result in the release of more than 1,000 metric tons of carbon dioxide, a greenhouse gas, and the equivalent of the emissions from 200 passenger vehicles annually.
Constellation Energy finances, designs, constructs and owns these solar installations and supplies power generated on-site to the customer over a period of 15 to 20 years. This creates an attractive and affordable model that requires no upfront capital from customers, such as The University of Toledo, and reduces customers’ use of power from the electrical grid and associated carbon emissions. Constellation Energy’s Projects & Services Group has developed a number of renewable energy projects for universities throughout the U.S., including a 17.1 megawatt system under development on the grounds of Mount St. Mary’s University in Emmitsburg, Md., that will be one of the largest solar installations in the U.S. when completed.
Constellation Energy currently has approximately 25 megawatts of on-site solar projects completed or under development throughout the U.S., and announced last month that it has set aside $90 million to fund the development of similar solar installations in 2010. Qualifying projects of 500 kilowatts generally require at least 100,000 square feet of roof space or two acres of open ground. Colleges and universities and other commercial customers interested in developing solar projects can contact Constellation Energy at Sustainable-Solutions@constellation.com or .
Constellation Energy’s Projects & Services Group utilized the design and build services of Advanced Distribution Generation (ADG) LLC of Northwest Ohio for the project. Plug Smart Solutions consulted and managed the project for the University of Toledo. Solar panels were supplied by First Solar, and photovoltaic inverters were supplied by PV Powered. The wind turbine was manufactured by Wind Energy Solutions (WES) of Holland.
“Renewables have a twofold importance for colleges and universities that are looking to improve their sustainability and expose students to careers in alternative energy,” said Mark Huston, managing director of retail energy, Constellation Energy. “We are proud to have developed this project with the University of Toledo and look forward to years of clean energy production as well as years of inspiration for a generation of students that will embark on green careers.”
“The creation and production of clean, renewable energy sources is vital to the way we power our world. That’s why The University of Toledo created the Scott Park Campus of Energy and Innovation,” UT President Dr. Lloyd Jacobs said. “Our relationship with Constellation Energy for the solar and wind electric generation systems on that campus will help students and researchers advance the technology that will power our future.”
The project utilizes thin-film-on-glass photovoltaic solar technology that was originally developed based on research at the University of Toledo. Constellation Energy’s Projects & Services Group also installed a 132-foot wind turbine at the site. Together, the solar and wind systems are expected annually to generate power equivalent to the amount of electricity used by 140 homes in a year. Generating that same amount of electricity using non-renewable sources would result in the release of more than 1,000 metric tons of carbon dioxide, a greenhouse gas, and the equivalent of the emissions from 200 passenger vehicles annually.
Constellation Energy finances, designs, constructs and owns these solar installations and supplies power generated on-site to the customer over a period of 15 to 20 years. This creates an attractive and affordable model that requires no upfront capital from customers, such as The University of Toledo, and reduces customers’ use of power from the electrical grid and associated carbon emissions. Constellation Energy’s Projects & Services Group has developed a number of renewable energy projects for universities throughout the U.S., including a 17.1 megawatt system under development on the grounds of Mount St. Mary’s University in Emmitsburg, Md., that will be one of the largest solar installations in the U.S. when completed.
Constellation Energy currently has approximately 25 megawatts of on-site solar projects completed or under development throughout the U.S., and announced last month that it has set aside $90 million to fund the development of similar solar installations in 2010. Qualifying projects of 500 kilowatts generally require at least 100,000 square feet of roof space or two acres of open ground. Colleges and universities and other commercial customers interested in developing solar projects can contact Constellation Energy at Sustainable-Solutions@constellation.com or .
Constellation Energy’s Projects & Services Group utilized the design and build services of Advanced Distribution Generation (ADG) LLC of Northwest Ohio for the project. Plug Smart Solutions consulted and managed the project for the University of Toledo. Solar panels were supplied by First Solar, and photovoltaic inverters were supplied by PV Powered. The wind turbine was manufactured by Wind Energy Solutions (WES) of Holland.
Acro Energy Expands to Arizona
HOUSTON--(BUSINESS WIRE)--Acro Energy Technologies Corp. (TSX Venture: ART), a leading US solar integrator, announced its expansion to the state of Arizona to bring affordable solar energy to Arizona homeowners and businesses that want to lower their utility bills using renewable energy.
The Company expects to move into a new facility in Tempe next quarter and start installing solar systems immediately. Through Acro Energy’s strategic alliance with SunRun, Inc., that was announced in October 2009, Arizona customers will be able to enter into power purchase agreements with SunRun for solar systems installed by Acro Energy.
“Arizona has the right fundamentals to make solar valuable for consumers and businesses,” said Nat Kreamer, president of Acro Energy. “Just as we’ve built a leading solar integration business in California, we plan to be a leader in this fast growing, important solar market.”
Steve Vella, director of business development for Acro Energy, will serve as the Qualifying Party for the Company’s Arizona Contractor’s License and oversee field services in the market.
“Steve’s background and experience building Acro Electric is instrumental to our expansion into Arizona,” said Harry Fleming, chief executive officer of Acro Energy. “With this organic expansion underway, Acro Energy continues to evaluate acquisition candidates to create a profitable national solar integration company.”
The Company expects to move into a new facility in Tempe next quarter and start installing solar systems immediately. Through Acro Energy’s strategic alliance with SunRun, Inc., that was announced in October 2009, Arizona customers will be able to enter into power purchase agreements with SunRun for solar systems installed by Acro Energy.
“Arizona has the right fundamentals to make solar valuable for consumers and businesses,” said Nat Kreamer, president of Acro Energy. “Just as we’ve built a leading solar integration business in California, we plan to be a leader in this fast growing, important solar market.”
Steve Vella, director of business development for Acro Energy, will serve as the Qualifying Party for the Company’s Arizona Contractor’s License and oversee field services in the market.
“Steve’s background and experience building Acro Electric is instrumental to our expansion into Arizona,” said Harry Fleming, chief executive officer of Acro Energy. “With this organic expansion underway, Acro Energy continues to evaluate acquisition candidates to create a profitable national solar integration company.”
Friday, March 26, 2010
SunPower Announces Pricing of $220 Million Aggregate Principal Amount of Its 4.5% Senior Cash Convertible Debentures
SAN JOSE, Calif., March 26 /PRNewswire-FirstCall/ -- SunPower Corporation (Nasdaq: SPWRA; SPWRB), a Silicon Valley-based provider of high efficiency solar cells, solar panels, and solar systems, today announced that it has priced an offering of $220 million aggregate principal amount of its 4.5% senior cash convertible debentures due 2015. In connection with this offering, SunPower has granted the initial purchasers an option to purchase up to an additional $30 million aggregate principal amount of such debentures to cover overallotments, if any. SunPower intends to use the proceeds from the offering to replenish cash reserves it expects to use in its acquisition of SunRay Renewable Energy, for working capital, capital expenditures and general corporate purposes, to pay the cost of the cash convertible debenture hedge and warrant transactions described below and, potentially, for the repayment of indebtedness. The sale of the debentures is subject to market and other customary conditions and is expected to close on April 1, 2010.
The debentures will pay interest semi-annually on March 15 and September 15 beginning on September 15, 2010, at a rate of 4.5% per annum, and will mature on March 15, 2015. The debentures will be convertible only into cash, and not into shares of SunPower's common stock (or any other securities). Prior to December 15, 2014, the debentures will be convertible only upon specified events and, thereafter, they will be convertible at any time, based on an initial conversion price of $22.53 per share of class A common stock (which is equivalent to a conversion rate of approximately 44.3853 shares of SunPower's class A common stock per $1,000 principal amount of debentures, representing a conversion premium of approximately 25% over the closing sale price of $18.02 per share of SunPower's class A common stock on the NASDAQ Global Select Market on March 25, 2010). The debentures will not be convertible upon the satisfaction of customary market price trigger conditions until the first quarter of 2011. The conversion price and the conversion rate will be subject to adjustment in certain events, such as distributions of dividends or stock splits. Upon conversion, SunPower will deliver an amount of cash calculated by reference to the price of SunPower's class A common stock over the applicable observation period. SunPower may not redeem the debentures prior to maturity. In connection with the sale of the debentures, SunPower entered into convertible debenture hedge and warrant transactions intended to reduce its potential exposure to cash payments upon conversion of the debentures.
The debentures are being offered in a private placement only to qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933 (the "Act"). The debentures have not been registered under the Act or any other state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities law.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the debentures. This press release is being issued pursuant to and in accordance with Rule 135c under the Act. Any offers of the debentures will be made only by means of a private offering memorandum. The debentures being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the applicable private offering memorandum.
The debentures will pay interest semi-annually on March 15 and September 15 beginning on September 15, 2010, at a rate of 4.5% per annum, and will mature on March 15, 2015. The debentures will be convertible only into cash, and not into shares of SunPower's common stock (or any other securities). Prior to December 15, 2014, the debentures will be convertible only upon specified events and, thereafter, they will be convertible at any time, based on an initial conversion price of $22.53 per share of class A common stock (which is equivalent to a conversion rate of approximately 44.3853 shares of SunPower's class A common stock per $1,000 principal amount of debentures, representing a conversion premium of approximately 25% over the closing sale price of $18.02 per share of SunPower's class A common stock on the NASDAQ Global Select Market on March 25, 2010). The debentures will not be convertible upon the satisfaction of customary market price trigger conditions until the first quarter of 2011. The conversion price and the conversion rate will be subject to adjustment in certain events, such as distributions of dividends or stock splits. Upon conversion, SunPower will deliver an amount of cash calculated by reference to the price of SunPower's class A common stock over the applicable observation period. SunPower may not redeem the debentures prior to maturity. In connection with the sale of the debentures, SunPower entered into convertible debenture hedge and warrant transactions intended to reduce its potential exposure to cash payments upon conversion of the debentures.
The debentures are being offered in a private placement only to qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933 (the "Act"). The debentures have not been registered under the Act or any other state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities law.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the debentures. This press release is being issued pursuant to and in accordance with Rule 135c under the Act. Any offers of the debentures will be made only by means of a private offering memorandum. The debentures being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the applicable private offering memorandum.
Sungevity and U.S. Bank Create $24 Million Fund for Ten-Year Solar Lease
OAKLAND, Calif., March 26 /PRNewswire-FirstCall/ -- Sungevity, the leading online residential solar provider, announced today a new partnership with U.S. Bancorp to finance solar systems for Californian homes. U.S. Bancorp (NYSE: USB) is the parent of U.S. Bank, the fifth largest commercial bank in the United States.
"We're excited to partner with Sungevity on their solar lease program," said Darren Van't Hof, Vice President of Renewable Energy Investments for U.S. Bank. "We like the residential solar space and are convinced its growth will outpace commercial solar development in the coming years."
Together the two companies have created a new tax equity fund to finance solar leases for Sungevity's future customers. Sungevity has become a leader in the solar industry because of its ability to offer easy and affordable residential solutions with its unique online design and sales process.
"Sungevity has always put its customers first, and we are thrilled to be able to offer the best solar lease on the market with the first ever 10-year term using this fund while maintaining a service unparalleled by our competitors," said Danny Kennedy, President and co-founder of Sungevity. "Having a great partner like U.S. Bank that believes in the power of solar helps ensure that more home owners than ever can reap the savings coming from solar power in their own homes."
Sungevity started providing solar leases this month and has already sold one-quarter of a megawatt under the offer. Leveraging the easy online "iQuote" process, which enables Sungevity to use satellite images and aerial photography to assess customers' roofs remotely and accurately determine the homes' solar potential, the company has been able to furnish thousands of customers with a firm proposal to use solar power with no capital cost. Demand has been huge with over 1000 iQuotes requested through www.sungevity.com in the last week alone.
The offer gives most customers savings from the start of their Sungevity Solar Lease. The graphic compares a typical customer's monthly electric bill over a ten year period – savings from the solar lease starts immediately and increases significantly over time.
"This is the killer app for driving the mass adoption of solar," said Kennedy. "We've made it more than affordable to access electricity free from the sun, and we've made it easy by selling it over the internet."
"The Sungevity Solar Lease is a game changer: In one day this month we sold more solar power than our previous biggest month – people are voting with their mouses to get a lower electricity bill and do something for the planet."
"We're excited to partner with Sungevity on their solar lease program," said Darren Van't Hof, Vice President of Renewable Energy Investments for U.S. Bank. "We like the residential solar space and are convinced its growth will outpace commercial solar development in the coming years."
Together the two companies have created a new tax equity fund to finance solar leases for Sungevity's future customers. Sungevity has become a leader in the solar industry because of its ability to offer easy and affordable residential solutions with its unique online design and sales process.
"Sungevity has always put its customers first, and we are thrilled to be able to offer the best solar lease on the market with the first ever 10-year term using this fund while maintaining a service unparalleled by our competitors," said Danny Kennedy, President and co-founder of Sungevity. "Having a great partner like U.S. Bank that believes in the power of solar helps ensure that more home owners than ever can reap the savings coming from solar power in their own homes."
Sungevity started providing solar leases this month and has already sold one-quarter of a megawatt under the offer. Leveraging the easy online "iQuote" process, which enables Sungevity to use satellite images and aerial photography to assess customers' roofs remotely and accurately determine the homes' solar potential, the company has been able to furnish thousands of customers with a firm proposal to use solar power with no capital cost. Demand has been huge with over 1000 iQuotes requested through www.sungevity.com in the last week alone.
The offer gives most customers savings from the start of their Sungevity Solar Lease. The graphic compares a typical customer's monthly electric bill over a ten year period – savings from the solar lease starts immediately and increases significantly over time.
"This is the killer app for driving the mass adoption of solar," said Kennedy. "We've made it more than affordable to access electricity free from the sun, and we've made it easy by selling it over the internet."
"The Sungevity Solar Lease is a game changer: In one day this month we sold more solar power than our previous biggest month – people are voting with their mouses to get a lower electricity bill and do something for the planet."
Entech Solar to Host Question and Answer Conference Call to Discuss 2009 Results
FORT WORTH, Texas.--(BUSINESS WIRE)--Entech Solar, Inc. (OTC BB:ENSL.OB) (the “Company”), with plans to become a leading developer of renewable energy technologies, today announced that it will host a conference call at 10:00 a.m. Eastern on March 31, 2010 to answer questions on the Company’s 2009 results with those participating on the conference call. The Company’s fiscal year 2009 press release will be issued before the market opens that day. The telephone number for the conference call is domestically and 617-597-5312 internationally, with conference ID #94615423. A live webcast of the call will also be available on the company's website, www.entechsolar.com.
The webcast will be archived on the site, and investors will be able to access a recording of the conference call for thirty days by calling 888-286-8010 domestically or 617-801-6888 internationally, with conference ID #74948346. The recording will be available two hours after the conference call has concluded.
About Entech Solar
Entech Solar, Inc. is a leading developer of renewable energy technologies and sustainable daylighting solutions for the commercial, industrial and utility markets. Entech Solar designs concentrating solar modules that provide both electricity and thermal energy as part of its ThermaVolt™ product line and electricity only as part of the SolarVolt™ product line. The Company also manufactures and markets the Entech™ Tubular Skylight, a state-of-the-art tubular skylight that provides superior light output and optical efficiency for the commercial and industrial green building initiatives. For more information, please visit www.entechsolar.com.
The webcast will be archived on the site, and investors will be able to access a recording of the conference call for thirty days by calling 888-286-8010 domestically or 617-801-6888 internationally, with conference ID #74948346. The recording will be available two hours after the conference call has concluded.
About Entech Solar
Entech Solar, Inc. is a leading developer of renewable energy technologies and sustainable daylighting solutions for the commercial, industrial and utility markets. Entech Solar designs concentrating solar modules that provide both electricity and thermal energy as part of its ThermaVolt™ product line and electricity only as part of the SolarVolt™ product line. The Company also manufactures and markets the Entech™ Tubular Skylight, a state-of-the-art tubular skylight that provides superior light output and optical efficiency for the commercial and industrial green building initiatives. For more information, please visit www.entechsolar.com.
Thursday, March 25, 2010
Mitsubishi Electric PV System Powers Toyo Suisan's First Solar Installation
TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has completed installation of a 62 kilowatt (kW) photovoltaic (PV) system at Toyo Suisan Kaisha, Ltd.'s Kanto Factory in Tatebayashi City, Gunma Prefecture, Japan. The installation, which is Toyo Suisan's first, has also become the largest PV system at a business operation in Tatebayashi City.
The electricity generated by a total of 330 PV modules installed on a surface area of 460 square meters will cover part of the electricity consumption used for air conditioning and lighting at the Toyo Suisan Group's largest instant noodle processing factory in Japan. Annually, the system is expected to generate approximately 60 megawatt-hours (MWh) of electricity and reduce 18.9 tons of carbon dioxide emissions.
Toyo Suisan, the food processing and sales company well known for its Maruchan brand and also the leading company in the North American and Mexican noodle market, has to date put in efforts to tackle global warming by saving energy through changing boiler fuels to natural gas and replacing manufacturing facilities to inverter-driven equipment, as well as by planting trees on factory roofs. To further reduce carbon dioxide emissions, Toyo Suisan decided to install a 62kW system at its Kanto Factory, partly funded by subsidies from the New Energy Promotion Council in Japan.
Meanwhile, Mitsubishi Electric is the only Japanese manufacturer that makes all key equipment that composes a PV system, such as PV modules and inverters in addition to power devices, which is the main component in inverters. Mitsubishi Electric was chosen to supply the entire system for this project as a result of high recognition for the company's product quality, reliability and the best system proposal.
Of the 62kW system, a 51kW system composed of 270 PV modules has been installed on the warehouse roof of the Kanto Factory, equipped with Mitsubishi Electric's three-phase 50kW PV inverter that will convert generated electricity into AC current. There is also a 11kW system of 60 modules on the main gate arch, whose electricity will be converted using a 10kW inverter, also supplied by Mitsubishi Electric.
The electricity generated by a total of 330 PV modules installed on a surface area of 460 square meters will cover part of the electricity consumption used for air conditioning and lighting at the Toyo Suisan Group's largest instant noodle processing factory in Japan. Annually, the system is expected to generate approximately 60 megawatt-hours (MWh) of electricity and reduce 18.9 tons of carbon dioxide emissions.
Toyo Suisan, the food processing and sales company well known for its Maruchan brand and also the leading company in the North American and Mexican noodle market, has to date put in efforts to tackle global warming by saving energy through changing boiler fuels to natural gas and replacing manufacturing facilities to inverter-driven equipment, as well as by planting trees on factory roofs. To further reduce carbon dioxide emissions, Toyo Suisan decided to install a 62kW system at its Kanto Factory, partly funded by subsidies from the New Energy Promotion Council in Japan.
Meanwhile, Mitsubishi Electric is the only Japanese manufacturer that makes all key equipment that composes a PV system, such as PV modules and inverters in addition to power devices, which is the main component in inverters. Mitsubishi Electric was chosen to supply the entire system for this project as a result of high recognition for the company's product quality, reliability and the best system proposal.
Of the 62kW system, a 51kW system composed of 270 PV modules has been installed on the warehouse roof of the Kanto Factory, equipped with Mitsubishi Electric's three-phase 50kW PV inverter that will convert generated electricity into AC current. There is also a 11kW system of 60 modules on the main gate arch, whose electricity will be converted using a 10kW inverter, also supplied by Mitsubishi Electric.
eSolar Introduces Semiconductor Veteran as SVP of Operations
PASADENA, Calif.--(BUSINESS WIRE)--eSolar, a leading producer of modular, scalable concentrating solar thermal power plants, announced today it has named Gary J. Breton as senior vice president of operations. Mr. Breton brings to the eSolar team more than 20 years' experience in executing global expansion and improving the operational profitability of leading semiconductor companies.
Prior to joining eSolar, Mr. Breton oversaw financial operations for Aurora Semiconductor and led sourcing efficiency initiatives at Cypress Semiconductor. Previously, as a senior vice president at Amkor Technologies, Mr. Breton supervised the operations of seven factories in six countries, where he successfully drove growth in Asian markets.
“To realize our vision of making solar power competitive with fossil fuels, eSolar is drawing on the legacy of seasoned industries,” said John Van Scoter, eSolar's CEO. “eSolar will benefit from Gary’s expertise in reducing operational and equipment costs, while driving international growth.”
“I look forward to applying my skill set to the dynamic concentrated solar power industry,” said Mr. Breton. “My ability to reduce costs and improve processes in the semiconductor industry is well-suited for helping to drive eSolar’s technology model and business strategy.”
Over the course of his career, Gary Breton has led teams in creating and implementing effective solutions involved with overall financial growth, government interaction, operations, and customer relationships in foreign markets. Mr. Breton holds an MBA and BS in Management from the University of La Salle.
Prior to joining eSolar, Mr. Breton oversaw financial operations for Aurora Semiconductor and led sourcing efficiency initiatives at Cypress Semiconductor. Previously, as a senior vice president at Amkor Technologies, Mr. Breton supervised the operations of seven factories in six countries, where he successfully drove growth in Asian markets.
“To realize our vision of making solar power competitive with fossil fuels, eSolar is drawing on the legacy of seasoned industries,” said John Van Scoter, eSolar's CEO. “eSolar will benefit from Gary’s expertise in reducing operational and equipment costs, while driving international growth.”
“I look forward to applying my skill set to the dynamic concentrated solar power industry,” said Mr. Breton. “My ability to reduce costs and improve processes in the semiconductor industry is well-suited for helping to drive eSolar’s technology model and business strategy.”
Over the course of his career, Gary Breton has led teams in creating and implementing effective solutions involved with overall financial growth, government interaction, operations, and customer relationships in foreign markets. Mr. Breton holds an MBA and BS in Management from the University of La Salle.
Cohen Milstein Sellers & Toll PLLC Announces a Proposed Settlement in a Class Action Lawsuit Against LDK Solar
WASHINGTON--(BUSINESS WIRE)--The law firm of Cohen Milstein Sellers & Toll PLLC (Cohen Milstein) announces that the United States District Court for the Northern District of California has preliminarily approved a proposed settlement in a class action lawsuit brought on behalf of certain persons who purchased or sold certain LDK Solar Co., Ltd. (NYSE: LDK) securities in 2007. If given final approval by the court, the settlement will resolve a class action lawsuit filed in 2007 that alleges that the defendants in the case, LDK and certain of its officers, directors, and subsidiaries, violated the federal securities laws. Defendants deny that they have done anything wrong. The court has not ruled on whether or not the allegations made on behalf of the plaintiff class are true. Cohen Milstein and the law firm of Berman DeValerio represent the plaintiff class.
The settlement, which will only enter into force if given final approval by the court, requires that the defendants cause $16 million to be paid into a settlement fund for the benefit of the plaintiff class. The settlement provides that, after the deduction of attorneys’ fees and expenses and the costs of administering the settlement, this amount, plus accruing interest, will be paid to the plaintiff class members who suffered losses as a result of the decline in the value of LDK shares that the lawsuit alleges was caused by the alleged violation of securities laws.
With certain exceptions, the plaintiff class includes all persons and entities that (a) purchased LDK American Depository Shares, (b) purchased call options for LDK American Depository Shares, or (c) sold put options for LDK American Depository Shares from June 1, 2007, through October 7, 2007, inclusive. If you purchased LDK common stock in the United States, you likely purchased LDK American Depository Shares. If approved, the settlement will affect the legal rights of all persons in the plaintiff class.
Any person or entity that thinks they may be a member of the class should obtain a copy of the court-approved notice that is being distributed to the class. A copy of the notice can be obtained at www.ldksolarsecuritieslitigation.com or by calling the settlement claims administrator at . Among other things, the notice explains how class members can file a claim to receive a payment from the settlement fund. The notice also explains how class members can tell the court that they do not like the settlement or any part of it, including the plan of allocation for the settlement and the request for attorneys’ fees and costs that will be filed with the court by class counsel.
A hearing to consider, among other matters, final approval of the settlement, is scheduled for June 17, 2010. The deadlines to object to the settlement or any part of it and to file claims to participate in the settlement are also set forth in the court-approved notice.
The settlement, which will only enter into force if given final approval by the court, requires that the defendants cause $16 million to be paid into a settlement fund for the benefit of the plaintiff class. The settlement provides that, after the deduction of attorneys’ fees and expenses and the costs of administering the settlement, this amount, plus accruing interest, will be paid to the plaintiff class members who suffered losses as a result of the decline in the value of LDK shares that the lawsuit alleges was caused by the alleged violation of securities laws.
With certain exceptions, the plaintiff class includes all persons and entities that (a) purchased LDK American Depository Shares, (b) purchased call options for LDK American Depository Shares, or (c) sold put options for LDK American Depository Shares from June 1, 2007, through October 7, 2007, inclusive. If you purchased LDK common stock in the United States, you likely purchased LDK American Depository Shares. If approved, the settlement will affect the legal rights of all persons in the plaintiff class.
Any person or entity that thinks they may be a member of the class should obtain a copy of the court-approved notice that is being distributed to the class. A copy of the notice can be obtained at www.ldksolarsecuritieslitigation.com or by calling the settlement claims administrator at . Among other things, the notice explains how class members can file a claim to receive a payment from the settlement fund. The notice also explains how class members can tell the court that they do not like the settlement or any part of it, including the plan of allocation for the settlement and the request for attorneys’ fees and costs that will be filed with the court by class counsel.
A hearing to consider, among other matters, final approval of the settlement, is scheduled for June 17, 2010. The deadlines to object to the settlement or any part of it and to file claims to participate in the settlement are also set forth in the court-approved notice.
Evolution Solar Contracted by Polyven International for Wafer Sourcing
THE WOODLANDS, Texas--(BUSINESS WIRE)--Evolution Solar Corporation’s (PinkSheets: EVSO) Director of Asian Operations, Michael Franklin, has successfully sourced special solar wafer needs for Polyven International. Polyven International is a US based company which supplies a complete line of solar materials with a vertically integrated strategy worldwide. Their first end user is a leading Italian PV solar panel manufacturer who supplies state of the art products globally. Mr. John Denzer, CEO of Polyven International, has contracted EVSO for his Asian sourcing needs of which China is an integral part its global strategy. The first shipment of EVSO wafers was successfully delivered to Italy for trial, evaluation and commercial approval. Polyven International is also working with EVSO to source similar materials for the solar industry needs in South America.
Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be placed at the university’s Houston campus. This project should help Evolution Solar acquire new projects in an industry that is growing to compete in the energy industry, which contains the Peabody Energy Corporation (NYSE: BTU), Valero Energy Corporation (NYSE: VLO), CenterPoint Energy (NYSE: CNP) and Chesapeake Energy (NYSE: CHK).
Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be placed at the university’s Houston campus. This project should help Evolution Solar acquire new projects in an industry that is growing to compete in the energy industry, which contains the Peabody Energy Corporation (NYSE: BTU), Valero Energy Corporation (NYSE: VLO), CenterPoint Energy (NYSE: CNP) and Chesapeake Energy (NYSE: CHK).
Wednesday, March 24, 2010
Datapipe Goes Green With 100 Percent Renewable Electricity
JERSEY CITY, NJ--(Marketwire - March 24, 2010) - Datapipe, a leading provider of managed hosting and IT services, announced today a significant expansion of its green initiatives. Through a strategic relationship with Constellation NewEnergy, Datapipe's Somerset One data center, located in New Jersey, will now run on 100 percent renewable electricity. Datapipe will utilize Green-e Energy certified renewable energy certificates through Constellation NewEnergy's NewMix(SM) Wind energy solution to match electricity consumption at its data center, while maintaining its diverse and redundant connections to the main power grid.
"We believe we have a responsibility to support long-term sustainability through the technologies we implement and the electricity we consume," said Robb Allen, CEO of Datapipe. "Converting to 100 percent renewable electricity sources is a big win for our clients, our company and our community. The impact is significant and is expected to result in an initial reduction of more than 8.5 million pounds of carbon emissions," Allen added.
The U.S. Environmental Protection Agency estimates that data centers account for 1.5 percent of the nation's electricity consumption. As the demand for digital resources continues to rise, the EPA estimates this figure will increase by 12 percent annually.
Renewable energy certificates (RECs) represent the environmental benefits of electricity generated from wind, solar or other renewable power. Eligible facilities that generate renewable power are issued RECs that can be sold to help support the development and operation of renewable energy generation.
"Visionary organizations are making the choice to support renewable power resources," said Keith Black, vice president of Constellation NewEnergy. "We are proud to supply the green electricity, primarily sourced from wind resources, that enables Datapipe to make a significant reduction to its carbon footprint," Black added.
Datapipe's global facilities feature numerous green initiatives. These include corporate recycling programs and alternative energy.
"We believe we have a responsibility to support long-term sustainability through the technologies we implement and the electricity we consume," said Robb Allen, CEO of Datapipe. "Converting to 100 percent renewable electricity sources is a big win for our clients, our company and our community. The impact is significant and is expected to result in an initial reduction of more than 8.5 million pounds of carbon emissions," Allen added.
The U.S. Environmental Protection Agency estimates that data centers account for 1.5 percent of the nation's electricity consumption. As the demand for digital resources continues to rise, the EPA estimates this figure will increase by 12 percent annually.
Renewable energy certificates (RECs) represent the environmental benefits of electricity generated from wind, solar or other renewable power. Eligible facilities that generate renewable power are issued RECs that can be sold to help support the development and operation of renewable energy generation.
"Visionary organizations are making the choice to support renewable power resources," said Keith Black, vice president of Constellation NewEnergy. "We are proud to supply the green electricity, primarily sourced from wind resources, that enables Datapipe to make a significant reduction to its carbon footprint," Black added.
Datapipe's global facilities feature numerous green initiatives. These include corporate recycling programs and alternative energy.
Suntech Brings Solar Power to Harrah's Rincon Casino
VALLEY CENTER, Calif., March 24 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of crystalline silicon solar panels, today announced that it has completed a 1 megawatt (MW) solar installation for Harrah's Rincon Casino in Southern California, a top resort-gaming destination. The system will offset nearly a quarter of the Casino's total energy consumption and is part of Harrah's ongoing conservation and sustainability effort.
With over 4,000 Suntech solar panels installed at the Harrah's Rincon site, the system covers over five-and-a-half acres and will provide enough power to run nearly 90% of the 662-room property's HVAC system. The Harrah's Suntech solar installation is expected to provide the Casino with considerable energy cost savings over time.
"Led by the Rincon Band of Luiseno Indians in partnership with the California Center for Sustainable Energy, TRANE and San Diego Gas & Electric, the Harrah's Rincon Casino solar plant is a model for California businesses to follow and speaks to the success of the California Solar Initiative program," explained Steven Chan, Chief Strategy Officer of Suntech. "We're thrilled with the environmental and cost benefits from Harrah's solar installation as well as the education opportunity it provides for visitors to its resort."
Bo Mazzetti, Chairman of the Rincon Band of Luiseno Indians, said, "This is an important step forward in energy efficiency. It is just the beginning of what we, as a tribe, look to accomplish as responsible members of our community which is addressing the multiple energy and environmental issues that currently face all governments."
With over 4,000 Suntech solar panels installed at the Harrah's Rincon site, the system covers over five-and-a-half acres and will provide enough power to run nearly 90% of the 662-room property's HVAC system. The Harrah's Suntech solar installation is expected to provide the Casino with considerable energy cost savings over time.
"Led by the Rincon Band of Luiseno Indians in partnership with the California Center for Sustainable Energy, TRANE and San Diego Gas & Electric, the Harrah's Rincon Casino solar plant is a model for California businesses to follow and speaks to the success of the California Solar Initiative program," explained Steven Chan, Chief Strategy Officer of Suntech. "We're thrilled with the environmental and cost benefits from Harrah's solar installation as well as the education opportunity it provides for visitors to its resort."
Bo Mazzetti, Chairman of the Rincon Band of Luiseno Indians, said, "This is an important step forward in energy efficiency. It is just the beginning of what we, as a tribe, look to accomplish as responsible members of our community which is addressing the multiple energy and environmental issues that currently face all governments."
Suntech Energises with SuccessFactors
BEIJING, March 24 /PRNewswire-FirstCall/ -- Today, SuccessFactors, Inc. (Nasdaq: SFSF) announced that Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading producer of crystalline silicon solar panels, has deployed the SuccessFactors Business Execution (BizX) Suite to drive their talent process, pay-for-performance culture and optimize its company's performance for increased growth.
A leading Chinese company with a market capitalization of over $2.5 billion, Suntech is a worldwide leader in the design and manufacture of innovative solar energy solutions for a wide variety of customers and applications across North America, Europe, Asia and Australia. Their global research and development team continues to pioneer technology advances in solar power generation products. The company is also expanding its business globally and building more factories and installing cutting-edge technology to make solar energy a practical and cost-effective solution for more customers around the globe.
Due to this massive growth, Suntech identified the need to significantly expand their goal alignment strategy across all geographical regions at the mid to senior management level. In addition, they wanted to introduce a pay-for-performance culture to optimise performance amongst its sales organisation. SuccessFactors was the solution of choice due to its proven globally-deployed technology, local presence in China and world renowned reputation in the market place.
"We know that high performing Managers in turn make for engaged loyal customers, so we are pleased to launch this relationship with SuccessFactors," said Cindy Shao, VP of Suntech. "We believe the SuccessFactors solution will improve execution of goals and our management will be able to drive increased performance across our business. We also strongly believe in investing in employee development and with this solution, we'll be able to better spot and reward high performing employees that are on the path of becoming future leaders at Suntech."
"We are thrilled to be working with Suntech and to assist its mid to senior management," said Kevin Lin, SuccessFactors Mainland China and Hong Kong Country Manager. "In these very competitive times, organisations are focusing more than ever on their people to drive performance and compensating high performers."
A leading Chinese company with a market capitalization of over $2.5 billion, Suntech is a worldwide leader in the design and manufacture of innovative solar energy solutions for a wide variety of customers and applications across North America, Europe, Asia and Australia. Their global research and development team continues to pioneer technology advances in solar power generation products. The company is also expanding its business globally and building more factories and installing cutting-edge technology to make solar energy a practical and cost-effective solution for more customers around the globe.
Due to this massive growth, Suntech identified the need to significantly expand their goal alignment strategy across all geographical regions at the mid to senior management level. In addition, they wanted to introduce a pay-for-performance culture to optimise performance amongst its sales organisation. SuccessFactors was the solution of choice due to its proven globally-deployed technology, local presence in China and world renowned reputation in the market place.
"We know that high performing Managers in turn make for engaged loyal customers, so we are pleased to launch this relationship with SuccessFactors," said Cindy Shao, VP of Suntech. "We believe the SuccessFactors solution will improve execution of goals and our management will be able to drive increased performance across our business. We also strongly believe in investing in employee development and with this solution, we'll be able to better spot and reward high performing employees that are on the path of becoming future leaders at Suntech."
"We are thrilled to be working with Suntech and to assist its mid to senior management," said Kevin Lin, SuccessFactors Mainland China and Hong Kong Country Manager. "In these very competitive times, organisations are focusing more than ever on their people to drive performance and compensating high performers."
Advanced Energy Announces Acquisition of Solar Inverter Provider, PV Powered
FORT COLLINS, Colo., March 24 /PRNewswire-FirstCall/ -- Advanced Energy Industries, Inc. (Nasdaq: AEIS) today announced it has signed a definitive agreement to acquire PV Powered Inc., a leading manufacturer of grid-tied PV inverters in the residential, commercial, and utility-scale markets. The acquisition is expected to add an estimated $40-50 million to Advanced Energy's 2010 revenues and be neutral to marginally dilutive to GAAP net income in 2010.
"We are very excited to announce this acquisition and believe the combination of Advanced Energy and PV Powered will continue our strong momentum in the inverter market, propelling us forward as a leading manufacturer of solar inverters in North America. The addition of PV Powered's transformer-based inverters with power levels below 500kw for the small to mid range commercial inverter market allows Advanced Energy to target a portion of the market that we have not yet addressed. As a combined company, our comprehensive portfolio of both transformerless and transformer-based inverter products will serve the entire spectrum of commercial project sizes from 30kw to multi-megawatt utility installations, placing us firmly at the heart of the emerging and fast-growing solar inverter market," said Hans Betz, chief executive officer of Advanced Energy.
PV Powered is an innovation leader for high-reliability transformer-based PV inverters utilized in commercial roof top and ground mount systems in the North American market. Founded in 2003 and based in Bend, Oregon, PV Powered is a privately held company with approximately 90 employees and $21 million of revenues in 2009. Its inverters range in size from 30kw to 260kw for the commercial market and 1kw to 5kw for the residential market, with market leading efficiency ratings. PV Powered's experienced inverter engineering team has continuously optimized the performance and reliability of its inverters allowing PV Powered to offer the industry's first standard 10 year product warranty and optional 20 year extended warranty.
"The employees and management of PV Powered are extremely excited at the prospect of joining Advanced Energy," said Gregg Patterson, chief executive officer of PV Powered. "PV Powered and Advanced Energy have a collective history of industry innovation, driven by a commitment to power conversion efficiency and inverter reliability that leads the market. Both organizations share a common mission to deliver the lowest levelized cost of energy and the highest levels of customer satisfaction. Together, we can offer the broadest technology and product portfolio in the industry."
Under the agreement, Advanced Energy will acquire PV Powered for a purchase price of up to $90 million consisting of $50 million to be paid at closing in the form of $35 million in cash and $15 million in Advanced Energy's common stock, as well as up to $40 million in a potential earn-out based on PV Powered's full year 2010 financial results. The transaction will be subject to a number of other customary closing conditions and regulatory approvals including Hart Scott Rodino. Throughout 2010, PV Powered will operate as a wholly-owned subsidiary, continuing to sell and support its PV Powered branded inverters.
Currently, we anticipate sales of PV Powered's inverter to contribute as much as $40M-$50 million to Advanced Energy's 2010 revenue. Of that, we expect $30-35 million to come from sales to the commercial market and $10-15 million from the residential market. We anticipate gross margins on these products to be in the range of 26-29% and have additional operating expenses of $3-4 million.
Needham & Company, LLC acted as the financial advisor and provided a fairness opinion to Advanced Energy related to this transaction.
"We are very excited to announce this acquisition and believe the combination of Advanced Energy and PV Powered will continue our strong momentum in the inverter market, propelling us forward as a leading manufacturer of solar inverters in North America. The addition of PV Powered's transformer-based inverters with power levels below 500kw for the small to mid range commercial inverter market allows Advanced Energy to target a portion of the market that we have not yet addressed. As a combined company, our comprehensive portfolio of both transformerless and transformer-based inverter products will serve the entire spectrum of commercial project sizes from 30kw to multi-megawatt utility installations, placing us firmly at the heart of the emerging and fast-growing solar inverter market," said Hans Betz, chief executive officer of Advanced Energy.
PV Powered is an innovation leader for high-reliability transformer-based PV inverters utilized in commercial roof top and ground mount systems in the North American market. Founded in 2003 and based in Bend, Oregon, PV Powered is a privately held company with approximately 90 employees and $21 million of revenues in 2009. Its inverters range in size from 30kw to 260kw for the commercial market and 1kw to 5kw for the residential market, with market leading efficiency ratings. PV Powered's experienced inverter engineering team has continuously optimized the performance and reliability of its inverters allowing PV Powered to offer the industry's first standard 10 year product warranty and optional 20 year extended warranty.
"The employees and management of PV Powered are extremely excited at the prospect of joining Advanced Energy," said Gregg Patterson, chief executive officer of PV Powered. "PV Powered and Advanced Energy have a collective history of industry innovation, driven by a commitment to power conversion efficiency and inverter reliability that leads the market. Both organizations share a common mission to deliver the lowest levelized cost of energy and the highest levels of customer satisfaction. Together, we can offer the broadest technology and product portfolio in the industry."
Under the agreement, Advanced Energy will acquire PV Powered for a purchase price of up to $90 million consisting of $50 million to be paid at closing in the form of $35 million in cash and $15 million in Advanced Energy's common stock, as well as up to $40 million in a potential earn-out based on PV Powered's full year 2010 financial results. The transaction will be subject to a number of other customary closing conditions and regulatory approvals including Hart Scott Rodino. Throughout 2010, PV Powered will operate as a wholly-owned subsidiary, continuing to sell and support its PV Powered branded inverters.
Currently, we anticipate sales of PV Powered's inverter to contribute as much as $40M-$50 million to Advanced Energy's 2010 revenue. Of that, we expect $30-35 million to come from sales to the commercial market and $10-15 million from the residential market. We anticipate gross margins on these products to be in the range of 26-29% and have additional operating expenses of $3-4 million.
Needham & Company, LLC acted as the financial advisor and provided a fairness opinion to Advanced Energy related to this transaction.
HelioVolt Chooses GE Intelligent Platforms’ Proficy Software To Achieve a Competitive Advantage Through Complete Visibility and Control Over Solar Pan
CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--GE Intelligent Platforms today announced that HelioVolt has implemented the Proficy® Software suite in its new thin film solar PV module manufacturing plant. The company, based in Austin, Texas, chose GE’s software to increase plant yield and throughput, while meeting strict control and traceability requirements. With the solution, HelioVolt will be able to achieve a rapid return on its investment and gain immediate visibility into its manufacturing processes.
HelioVolt is producing thin film solar PV modules for commercial rooftop, utility-scale ground mount, residential, BIPV and custom installations. It is the first thin-film company combining high-efficiency products with low-cost manufacturing capabilities to create a new generation of Copper Indium Gallium Selenide (CIGS) based solar modules. Thin film technologies reduce the amount (or mass) of light absorbing material required to create a solar cell. This can lead to reduced processing costs from that of bulk materials.
“Our automated and fully integrated manufacturing process, from substrate to final module assembly and test, allows us to reach high manufacturing efficiencies and low costs more rapidly than other competing technologies,” said Iga Hallberg, Vice President of Business Development for HelioVolt. “The Proficy solution can help us to keep plant yield and throughput high, as well as ensure quality. Ultimately, this will lead to better and more cost-effective solar modules for our customers.”
As a new company, HelioVolt needed a solution that is easily replicated to new plants, but also needed the solution to scale data storage for up to 30 years to satisfy warranty requirements. In addition, high volume manufacturing was a must to drive cost down while maintaining quality.
“HelioVolt had some tight project deadlines to meet to satisfy their investors, so only a turnkey solution supported by rapid implementation services would work for them,” said Erik Udstuen, Vice President of Software and Services for GE Intelligent Platforms. “Proficy offers a complete Lean Manufacturing solution that provides the flexibility to add equipment and optimized work processes as HelioVolt scales its business.”
The software system employed at HelioVolt is made up of five core elements of the Proficy suite providing the company with robust redundancy, enhanced data security, reliable information and increased control of every aspect of operations through access to critical data. By delivering web-based visualization and real-time analytics, operators are able to increase efficiency and optimize production processes in real-time resulting in reduced costs and increased profitability.
“GE’s experience in manufacturing as well as the company’s ability to get a complete system up and running in a short time frame were key to working with HelioVolt,” concluded HelioVolt’s Hallberg. “We are looking forward to a bright future in the solar business and we think this software solution will help us get there.”
For more information: www.ge-ip.com/solar.
HelioVolt is producing thin film solar PV modules for commercial rooftop, utility-scale ground mount, residential, BIPV and custom installations. It is the first thin-film company combining high-efficiency products with low-cost manufacturing capabilities to create a new generation of Copper Indium Gallium Selenide (CIGS) based solar modules. Thin film technologies reduce the amount (or mass) of light absorbing material required to create a solar cell. This can lead to reduced processing costs from that of bulk materials.
“Our automated and fully integrated manufacturing process, from substrate to final module assembly and test, allows us to reach high manufacturing efficiencies and low costs more rapidly than other competing technologies,” said Iga Hallberg, Vice President of Business Development for HelioVolt. “The Proficy solution can help us to keep plant yield and throughput high, as well as ensure quality. Ultimately, this will lead to better and more cost-effective solar modules for our customers.”
As a new company, HelioVolt needed a solution that is easily replicated to new plants, but also needed the solution to scale data storage for up to 30 years to satisfy warranty requirements. In addition, high volume manufacturing was a must to drive cost down while maintaining quality.
“HelioVolt had some tight project deadlines to meet to satisfy their investors, so only a turnkey solution supported by rapid implementation services would work for them,” said Erik Udstuen, Vice President of Software and Services for GE Intelligent Platforms. “Proficy offers a complete Lean Manufacturing solution that provides the flexibility to add equipment and optimized work processes as HelioVolt scales its business.”
The software system employed at HelioVolt is made up of five core elements of the Proficy suite providing the company with robust redundancy, enhanced data security, reliable information and increased control of every aspect of operations through access to critical data. By delivering web-based visualization and real-time analytics, operators are able to increase efficiency and optimize production processes in real-time resulting in reduced costs and increased profitability.
“GE’s experience in manufacturing as well as the company’s ability to get a complete system up and running in a short time frame were key to working with HelioVolt,” concluded HelioVolt’s Hallberg. “We are looking forward to a bright future in the solar business and we think this software solution will help us get there.”
For more information: www.ge-ip.com/solar.
DOW™ POWERHOUSE™ Solar Shingle Wins GLOBE Award for Environmental Excellence in Emerging Technology
VANCOUVER, British Columbia--(BUSINESS WIRE)--The Dow Chemical Company (NYSE: DOW) today announced that its new DOW™ POWERHOUSE™ Solar Shingle received a GLOBE Foundation award for “Environmental Excellence in Emerging Technology.” The GLOBE Awards are presented annually to extraordinary companies and industry groups who have managed to balance competitive business strategies and sustainable development. The award was presented on March 23rd in Vancouver, Canada, on the eve of GLOBE 2010, the largest and longest-running international conference and tradeshow dedicated to the business of the environment.
Dow is bringing the power of chemistry to the GLOBE 2010 conference and showcasing its suite of smart solutions, new innovations, operational best practices, partnerships and expertise. Dow’s solutions for today and innovations for tomorrow include technologies and advanced materials aimed at solving some of the world’s most pressing challenges, from energy and climate change to water, food, health, housing and infrastructure.
About POWERHOUSE Solar Shingles
Unveiled in 2009, the DOW™ POWERHOUSE™ Solar Shingle installs and performs like a standard asphalt shingle while harnessing the power of the sun to offset a portion of a home's energy usage. Dow's Solar Solutions (DSS) technology uses a cost-effective and durable PV material called CIGS (Copper Indium Gallium diSelenide). The unique product design has similar reveal, weight, and installation practices as an asphalt shingle and also generates electricity. Electrical circuitry is integrated into each shingle and the shingles are connected by wireless plug-style connectors. The technology blends form and function, aesthetics and performance into a solar solution that is accessible and affordable for homeowners.
The DOW™ POWERHOUSE™ Solar Shingle was named one of the "50 Best Inventions of 2009" by Time magazine, and is expected to be available in 2011.
Dow is bringing the power of chemistry to the GLOBE 2010 conference and showcasing its suite of smart solutions, new innovations, operational best practices, partnerships and expertise. Dow’s solutions for today and innovations for tomorrow include technologies and advanced materials aimed at solving some of the world’s most pressing challenges, from energy and climate change to water, food, health, housing and infrastructure.
About POWERHOUSE Solar Shingles
Unveiled in 2009, the DOW™ POWERHOUSE™ Solar Shingle installs and performs like a standard asphalt shingle while harnessing the power of the sun to offset a portion of a home's energy usage. Dow's Solar Solutions (DSS) technology uses a cost-effective and durable PV material called CIGS (Copper Indium Gallium diSelenide). The unique product design has similar reveal, weight, and installation practices as an asphalt shingle and also generates electricity. Electrical circuitry is integrated into each shingle and the shingles are connected by wireless plug-style connectors. The technology blends form and function, aesthetics and performance into a solar solution that is accessible and affordable for homeowners.
The DOW™ POWERHOUSE™ Solar Shingle was named one of the "50 Best Inventions of 2009" by Time magazine, and is expected to be available in 2011.
Tuesday, March 23, 2010
Solarize Pendleton Gives Eastern Oregonian Homeowners a Green Light
PORTLAND, Ore., March 23 /PRNewswire/ -- The City of Pendleton has launched a low-cost group buy solar program so that homeowners may take advantage of the savings and multiple benefits of solar photovoltaic (PV) systems. The program is open to Pendleton businesses and residents in the surrounding area. Pendleton's Residential Solar Program is based on a community scale group purchasing model successfully used in Portland, Ore. that uses state and federal incentives and tax credits, lowering the sticker price of a residential solar system by an average of 80 percent while providing homeowners with a high quality and complete solar power system. According to solar analysts, homeowners can save at least one-third of their heating and other energy bills by using solar photovoltaic systems. Free workshops, conducted by Energy Trust of Oregon and Solar Oregon will be offered beginning Monday, March 29, to explain the program and outline solar energy cost-savings. Workshop reservations may be made by contacting Lee Jorgensen at the City of Pendleton, , email: Lee.Jorgensen@ci.pendleton.or.us. Leaders within the City of Pendleton are currently researching zero-interest loans and other funding programs so that the maximum number of Pendleton's estimated 17,500 residents can take advantage of the program.
Central to the success of Solarize Pendleton is LiveLight Energy of Beaverton (www.livelightenergy.com); the family-owned Oregon solar construction company awarded the Pendleton contract in a highly competitive bidding process. LiveLight Energy is offering free solar site assessments to determine exact costs and the best solar instillation process for residents' homes. To schedule a free assessment contact Cory Zielsdorf, 503-863-7721, email: corey@livelightenergy.com.
LiveLight Energy President Keith Knowles says that company staff will be available throughout Solarize Pendleton, which begins this month and runs though October, to explain how residents can take advantage of other energy efficiency measures. Knowles has also committed his company to donate a percentage of the project allocation so that a Pendleton community nonprofit will receive a complete solar system. Details on how nonprofits may apply for this program will be available mid-April.
Solarize Pendleton project leaders say there is no limit to the number of Pendleton homeowners and businesses who can take advantage of this low-cost program. The program is slated to end in October of 2010.
Editors note: For more information call Mara Woloshin at 503-310-4504 for details. Photographs of photovoltaic homes and construction are available electronically.
Central to the success of Solarize Pendleton is LiveLight Energy of Beaverton (www.livelightenergy.com); the family-owned Oregon solar construction company awarded the Pendleton contract in a highly competitive bidding process. LiveLight Energy is offering free solar site assessments to determine exact costs and the best solar instillation process for residents' homes. To schedule a free assessment contact Cory Zielsdorf, 503-863-7721, email: corey@livelightenergy.com.
LiveLight Energy President Keith Knowles says that company staff will be available throughout Solarize Pendleton, which begins this month and runs though October, to explain how residents can take advantage of other energy efficiency measures. Knowles has also committed his company to donate a percentage of the project allocation so that a Pendleton community nonprofit will receive a complete solar system. Details on how nonprofits may apply for this program will be available mid-April.
Solarize Pendleton project leaders say there is no limit to the number of Pendleton homeowners and businesses who can take advantage of this low-cost program. The program is slated to end in October of 2010.
Editors note: For more information call Mara Woloshin at 503-310-4504 for details. Photographs of photovoltaic homes and construction are available electronically.
SunSetter Products Harnesses Solar Power to Make Retractable Awnings
MALDEN, MA--(Marketwire - March 23, 2010) - SunSetter Products, the largest manufacturer of retractable residential awnings in the US, announced today that it recently completed extensive renewable energy and energy efficiency improvements in its 64,000 square foot facility. The improvements include upgrading to energy-efficient lighting fixtures and the installation of two solar photovoltaic systems on its roof.
Nexamp, Inc., a North Andover, MA-based clean energy company that delivers a broad range of turnkey solutions to reduce energy costs and carbon emissions for businesses, governments, and homeowners, was selected by SunSetter as the advisor and general contractor for this project.
The solar photovoltaic systems, with 616 solar panels installed on the roof, were engineered by Nexamp to last 30-plus years. All of the major components come from Massachusetts-based companies including Evergreen Solar, Solectria Renewables, and PanelClaw. This project was partially funded through the Massachusetts Renewable Energy Trust.
"We are very excited about this investment in green energy," said Ido Eilam, CEO of SunSetter. "It's like closing a circle: we are using the sun's energy to protect consumers from the sun. We use solar energy in our manufacturing process; consumers use our awnings to protect them from the harmful UV rays and heat of the sun, and we both reduce our carbon footprint and help the environment. It's a win-win proposition."
"The solar photovoltaic system feeds power directly into our building," explained Eilam, "offsetting the amount of power that must otherwise be purchased from the utility, and through a process called net metering, we sell surplus generated energy back to the utility company for others to use."
On an annual basis, SunSetter expects to generate about 138,000 kWh of electricity from the sun, which will reduce the amount of electricity it purchases from the utility by 35-40%. It expects to see a return on its investment in less than five years -- before enjoying 25 years of free power from the sun. Additionally, SunSetter's high-efficiency lighting upgrade is expected to reduce the company's lighting-related electricity costs by approximately 50%, saving $9,300 annually while improving overall lighting levels.
"By taking a comprehensive approach to their energy strategy, SunSetter is making a well-informed investment in its future. Reducing energy costs with clean energy solutions like high-efficiency lighting and solar electricity will help the company keep its product costs low," said Dan Leary, President of Nexamp. "Nexamp is honored to have been chosen by SunSetter to design and implement these extensive clean energy improvements."
Nexamp, Inc., a North Andover, MA-based clean energy company that delivers a broad range of turnkey solutions to reduce energy costs and carbon emissions for businesses, governments, and homeowners, was selected by SunSetter as the advisor and general contractor for this project.
The solar photovoltaic systems, with 616 solar panels installed on the roof, were engineered by Nexamp to last 30-plus years. All of the major components come from Massachusetts-based companies including Evergreen Solar, Solectria Renewables, and PanelClaw. This project was partially funded through the Massachusetts Renewable Energy Trust.
"We are very excited about this investment in green energy," said Ido Eilam, CEO of SunSetter. "It's like closing a circle: we are using the sun's energy to protect consumers from the sun. We use solar energy in our manufacturing process; consumers use our awnings to protect them from the harmful UV rays and heat of the sun, and we both reduce our carbon footprint and help the environment. It's a win-win proposition."
"The solar photovoltaic system feeds power directly into our building," explained Eilam, "offsetting the amount of power that must otherwise be purchased from the utility, and through a process called net metering, we sell surplus generated energy back to the utility company for others to use."
On an annual basis, SunSetter expects to generate about 138,000 kWh of electricity from the sun, which will reduce the amount of electricity it purchases from the utility by 35-40%. It expects to see a return on its investment in less than five years -- before enjoying 25 years of free power from the sun. Additionally, SunSetter's high-efficiency lighting upgrade is expected to reduce the company's lighting-related electricity costs by approximately 50%, saving $9,300 annually while improving overall lighting levels.
"By taking a comprehensive approach to their energy strategy, SunSetter is making a well-informed investment in its future. Reducing energy costs with clean energy solutions like high-efficiency lighting and solar electricity will help the company keep its product costs low," said Dan Leary, President of Nexamp. "Nexamp is honored to have been chosen by SunSetter to design and implement these extensive clean energy improvements."
Morrison Hershfield and Sustainable Energy To Team Up for Joint Solar PV Projects in Ontario
TORONTO, ONTARIO--(Marketwire - March 23, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") and Morrison Hershfield Limited ("Morrison Hershfield") a leading North American engineering and management firm, today jointly announced their collaboration to provide complete project design and installation services for commercial and institutional rooftop and land based solar photovoltaic systems under the Ontario Green Energy Act and Feed-in-Tariff ("FIT") Program.
The collaboration responds to a need on the part of building and ground mount site owners, developers and their financial supporters for a professional process to review buildings for structural integrity and to identify, develop, install and commission the best solar PV system possible for the application. The firms also provide detailed project scheduling and costing along with the necessary support and training to ensure long-term operating and financial success.
With over 700 employees across North America, Morrison Hershfield provides an integrated multidisciplinary engineering approach to roof structural analysis, determining the suitability of appropriate, sustainable and cost effective solar PV system designs. Morrison Hershfield will perform the site analysis, detailed design, engineering, and project and construction management enabling a comprehensive professional approach to solar PV system design and installation.
Sustainable Energy's new PARALEXTM Bosch Solar system combines the patented SUNERGYTM low voltage inverter and the premium, high efficiency Bosch Solar micro-morph amorphous silicon, thin film photovoltaic modules to deliver higher energy yields, reduce installation cost and enable the industry's first inherently safe solar PV system. A video explaining PARALEXTM and its advantages can be found at www.ParalexSolar.com.
Combining the resources of both firms, the collaboration enables the delivery of effective and comprehensive "turnkey" solutions for commercial and institutional rooftop solar power applications with the goal of enabling lowest installed cost per watt and the highest return on investment for rooftop solar PV systems in Ontario. The collaboration and the PARALEX Bosch Solar product meet the minimum domestic content thresholds for the Ontario FIT Program.
The collaboration responds to a need on the part of building and ground mount site owners, developers and their financial supporters for a professional process to review buildings for structural integrity and to identify, develop, install and commission the best solar PV system possible for the application. The firms also provide detailed project scheduling and costing along with the necessary support and training to ensure long-term operating and financial success.
With over 700 employees across North America, Morrison Hershfield provides an integrated multidisciplinary engineering approach to roof structural analysis, determining the suitability of appropriate, sustainable and cost effective solar PV system designs. Morrison Hershfield will perform the site analysis, detailed design, engineering, and project and construction management enabling a comprehensive professional approach to solar PV system design and installation.
Sustainable Energy's new PARALEXTM Bosch Solar system combines the patented SUNERGYTM low voltage inverter and the premium, high efficiency Bosch Solar micro-morph amorphous silicon, thin film photovoltaic modules to deliver higher energy yields, reduce installation cost and enable the industry's first inherently safe solar PV system. A video explaining PARALEXTM and its advantages can be found at www.ParalexSolar.com.
Combining the resources of both firms, the collaboration enables the delivery of effective and comprehensive "turnkey" solutions for commercial and institutional rooftop solar power applications with the goal of enabling lowest installed cost per watt and the highest return on investment for rooftop solar PV systems in Ontario. The collaboration and the PARALEX Bosch Solar product meet the minimum domestic content thresholds for the Ontario FIT Program.
Yingli Green Energy Hosted Global Media at Headquarters in Baoding
BAODING, China, March 23 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which holds the brand "Yingli Solar," today announced it hosted a group of more than 40 journalists from Germany, Spain, Italy, France, the United States and China at its corporate headquarters in Baoding from March 22 to 23. The tour marked the beginning of a series of global strategic marketing and communications projects Yingli Green Energy is undertaking following the announcement of its global sponsorship of the 2010 FIFA World Cup(TM) in South Africa.
During the two-day press tour, global media representatives visited Yingli Green Energy's manufacturing facilities, including the in-house polysilicon plant, Fine Silicon, and experienced one of the world's first solar powered five-star hotels, Power Valley Jinjiang International Hotel. They also engaged in in-depth discussions with Yingli Green Energy's management team, which provided them with insight into the solar industry, the Company's 12-year history and long-term strategy, industry-leading technology and production facilities, global marketing network, unique corporate culture and strong sense of social responsibility.
In addition, the press heard from several renewable energy industry players, including one of the Company's largest US-based customers, SunDurance Energy. SunDurance's CEO, Al Bucknam, provided insight into a recent 10-megawatt supply agreement, resulting in the naming of Yingli Green Energy Americas as SunDurance's "2009 Most Valuable Partner." The honor was marked with an award presentation from Mr. Bucknam to Chairman and CEO of Yingli Green Energy, Mr. Liansheng Miao.
"As a leading solar energy company, Yingli Green Energy aspires to drive technological innovation and reduce the cost of PV power, with the goal of making solar power a sustainable, economic and clean energy that benefits mankind for generations to come," said Mr. Liansheng Miao during one of the break-out sessions. "We're pleased to welcome the press to this significant event in Baoding and to showcase our innovation and customer appreciation first-hand."
Following the press tour, a reporter with 21st Century Business Herald, commented, "I was deeply impressed during the two-day visit. Yingli Green Energy is clearly a leader in the solar energy industry. Its advanced technology, international management practice, active corporate culture, and emphasis on social responsibility allow Yingli Green Energy to stand out in the renewable energy space."
During the press tour, Yingli Green Energy also unveiled its corporate mascot, "Yingying." Yingying will bring the "Power the Game - Power Your Life" campaign to the FIFA World Cup(TM) stadiums in South Africa, helping to make the vision of a green FIFA World Cup(TM) a reality.
Mr. Liansheng Miao further remarked, "As the first renewable energy company to sponsor the 2010 FIFA World Cup(TM), we hope to serve as a bridge to help people understand the potentials of renewable energy and the importance of environmental protection. By fulfilling this social responsibility, we look forward to increasing awareness of our brand and philosophy as well."
During the two-day press tour, global media representatives visited Yingli Green Energy's manufacturing facilities, including the in-house polysilicon plant, Fine Silicon, and experienced one of the world's first solar powered five-star hotels, Power Valley Jinjiang International Hotel. They also engaged in in-depth discussions with Yingli Green Energy's management team, which provided them with insight into the solar industry, the Company's 12-year history and long-term strategy, industry-leading technology and production facilities, global marketing network, unique corporate culture and strong sense of social responsibility.
In addition, the press heard from several renewable energy industry players, including one of the Company's largest US-based customers, SunDurance Energy. SunDurance's CEO, Al Bucknam, provided insight into a recent 10-megawatt supply agreement, resulting in the naming of Yingli Green Energy Americas as SunDurance's "2009 Most Valuable Partner." The honor was marked with an award presentation from Mr. Bucknam to Chairman and CEO of Yingli Green Energy, Mr. Liansheng Miao.
"As a leading solar energy company, Yingli Green Energy aspires to drive technological innovation and reduce the cost of PV power, with the goal of making solar power a sustainable, economic and clean energy that benefits mankind for generations to come," said Mr. Liansheng Miao during one of the break-out sessions. "We're pleased to welcome the press to this significant event in Baoding and to showcase our innovation and customer appreciation first-hand."
Following the press tour, a reporter with 21st Century Business Herald, commented, "I was deeply impressed during the two-day visit. Yingli Green Energy is clearly a leader in the solar energy industry. Its advanced technology, international management practice, active corporate culture, and emphasis on social responsibility allow Yingli Green Energy to stand out in the renewable energy space."
During the press tour, Yingli Green Energy also unveiled its corporate mascot, "Yingying." Yingying will bring the "Power the Game - Power Your Life" campaign to the FIFA World Cup(TM) stadiums in South Africa, helping to make the vision of a green FIFA World Cup(TM) a reality.
Mr. Liansheng Miao further remarked, "As the first renewable energy company to sponsor the 2010 FIFA World Cup(TM), we hope to serve as a bridge to help people understand the potentials of renewable energy and the importance of environmental protection. By fulfilling this social responsibility, we look forward to increasing awareness of our brand and philosophy as well."
Canadian Solar PV Modules Power Aircraft Spruce & Specialty Co. Distribution Warehouses
ONTARIO, Canada, March 23 /PRNewswire-Asia-FirstCall/ -- Canadian Solar Inc. ("the Company," "Canadian Solar" or "we") (Nasdaq: CSIQ), one of the world's largest solar companies, today announced its Canadian Solar CS6P-M 6" high-efficiency silicon cell modules have been installed and activated in two 119 kW solar electric systems at Aircraft Spruce & Specialty Co. distribution warehouses. Aircraft Spruce is utilizing more than 1,000 of the Canadian Solar high quality photovoltaic (PV) solar modules in Corona, Calif., and Peachtree, Ga. These 230-watt CS6P modules are among the highest rated by PV USA (PTC) rankings, an indicator of the quality and performance for which Canadian Solar modules are known. Together, the two solar electric systems are harvesting approximately 332,264 kilowatt-hour (kW/h) per year at peak capacity, offsetting the Aircraft Spruce's annual electric costs by more than 65 percent. The systems are also curtailing the release of more than 5,634 tons of carbon dioxide a year.
"Aircraft Spruce's investment in solar energy to power their distribution warehouses is a leading example of a company conducting business in an environmentally conscious manner," said Mike Miskovsky, U.S. general manager of Canadian Solar, Inc. "The Aircraft Spruce solar electric installations will yield great financial savings for the company and will greatly offset its power requirements with use of the world's most abundant, free source of power, the sun. We applaud the company's commitment to renewable energy and sustainable business practices, and are pleased to be supplying our high quality PV modules."
The Corona warehouse is a 518-module roof-mounted PV system with an estimated annual production of 165,812 kW/h per year at peak capacity. The Peachtree warehouse -- the second largest solar electric system in Georgia -- is a 540-module ballast-mounted PV electric system located on the roof. It is estimated to produce 166,452 kW/h per year at peak capacity. Together, the two Aircraft Spruce systems will result in massive electrical savings of approximately 7,117,868 kW/h over the 25-year life of the systems. The environmental impact is comparable to roughly 132,448 newly planted trees or taking 936 cars completely off the road.
"We are excited to be producing our own clean, renewable energy with the use of Canadian Solar's high quality PV modules," said Jim Irwin, President of Aircraft Spruce and Specialty Company. "We have always strived to be an environmentally responsible company and these installations are a great stride for us. Canadian Solar has helped enable us to receive the most power production and efficiency from our investment, and realize significant cost savings."
Aircraft Spruce was able to take advantage of generous federal and state credits and incentives, and will realize return on investment for the systems in roughly three to four years. Aliso Electric, Inc. of Laguna Hills, Calif., contracted and installed the solar electric systems for Aircraft Spruce, and PV Powered, Inc., a leader in solar inverter reliability, performance and serviceability, supplied the commercial inverters that were installed at the warehouses.
"The high quality, efficiency and affordability of Canadian Solar's modules were imperative elements to the success of the Aircraft Spruce installations and its subsequent power production," said Karla Martinez, project coordinator of the Solar Division at Aliso Electric, Inc. "As our company moves further into the solar installation business with success, Canadian Solar's strong, long-standing warranty and vast solar expertise makes them the perfect choice for this and other pivotal solar electric projects."
"Aircraft Spruce's investment in solar energy to power their distribution warehouses is a leading example of a company conducting business in an environmentally conscious manner," said Mike Miskovsky, U.S. general manager of Canadian Solar, Inc. "The Aircraft Spruce solar electric installations will yield great financial savings for the company and will greatly offset its power requirements with use of the world's most abundant, free source of power, the sun. We applaud the company's commitment to renewable energy and sustainable business practices, and are pleased to be supplying our high quality PV modules."
The Corona warehouse is a 518-module roof-mounted PV system with an estimated annual production of 165,812 kW/h per year at peak capacity. The Peachtree warehouse -- the second largest solar electric system in Georgia -- is a 540-module ballast-mounted PV electric system located on the roof. It is estimated to produce 166,452 kW/h per year at peak capacity. Together, the two Aircraft Spruce systems will result in massive electrical savings of approximately 7,117,868 kW/h over the 25-year life of the systems. The environmental impact is comparable to roughly 132,448 newly planted trees or taking 936 cars completely off the road.
"We are excited to be producing our own clean, renewable energy with the use of Canadian Solar's high quality PV modules," said Jim Irwin, President of Aircraft Spruce and Specialty Company. "We have always strived to be an environmentally responsible company and these installations are a great stride for us. Canadian Solar has helped enable us to receive the most power production and efficiency from our investment, and realize significant cost savings."
Aircraft Spruce was able to take advantage of generous federal and state credits and incentives, and will realize return on investment for the systems in roughly three to four years. Aliso Electric, Inc. of Laguna Hills, Calif., contracted and installed the solar electric systems for Aircraft Spruce, and PV Powered, Inc., a leader in solar inverter reliability, performance and serviceability, supplied the commercial inverters that were installed at the warehouses.
"The high quality, efficiency and affordability of Canadian Solar's modules were imperative elements to the success of the Aircraft Spruce installations and its subsequent power production," said Karla Martinez, project coordinator of the Solar Division at Aliso Electric, Inc. "As our company moves further into the solar installation business with success, Canadian Solar's strong, long-standing warranty and vast solar expertise makes them the perfect choice for this and other pivotal solar electric projects."
Underwriters Laboratories Opens Europe's Largest Photovoltaic Testing and Certification Facility in Germany
NORTHBROOK, Ill., March 23 /PRNewswire/ -- Underwriters Laboratories (UL), a global leader in safety testing and certification, announced today the expansion of its global photovoltaic (PV) footprint near the Frankfurt/Main airport in Germany, where it opens Europe's largest photovoltaic testing and certification facility. The new Photovoltaic Technology Center of Excellence reinforces UL's commitment to drive global progress and innovation of safe and reliable solar energy technologies and equipment.
UL is expanding its presence in Europe and Asia as the PV industry continues to experience significant global progress. The global installed capacity of solar photovoltaic power in GW has grown more than 1,000 percent from 2001 to 2008 and sales of photovoltaic technologies is predicted to reach $32.3 billion by 2012, according to BBC Research. Local service capabilities in San Jose, Calif., Suzhou, China, Frankfurt, Germany and upcoming facilities in Japan and India allow UL to bring an industry-leading portfolio of services to local markets and help manufacturers succeed in a rapidly changing environment.
The new state-of-the-art 22,600 square-foot testing facility in Germany houses 22 world-class testing chambers, including: fourteen climate chambers, four damp heat chambers, two large walk-ins and two temperature and humidity ovens and other cutting edge testing equipment. This added capacity allows UL to offer its European customers faster and more cost efficient testing processes due to the local presence and a highly skilled engineering team that speaks the local language. The comprehensive portfolio of services allows for global conformity assessment according to UL, IEC and EN certification requirements and enables faster global market access for UL's customers.
"The opening of the German facility marks another milestone in our photovoltaic global expansion and underscores our commitment to the industry and our customers," said Jeff Smidt, Vice President and General Manager for UL's Global Energy business. "Whether it is through our industry expertise, innovations in our service portfolio or investing in state-of-the-art facilities, we are expanding our capabilities to help manufacturers deliver innovative and safe PV products to the market."
UL is currently the only company in Europe that is fully accredited to test to UL 1703 and IEC/EN 61730 standards and its UL Mark has complete market acceptance in the U.S. The new facility enables small and large European manufacturers to locally test PV technologies and gain efficient access to the global market.
The Photovoltaic Technology Center of Excellence in Neu-Isenburg near Frankfurt/Main is located at Admiral-Rosendahl-Strasse 23, Neu-Isenburg (Zeppelinheim). To learn more about the new facility, visit: www.ul.com/pv-video. For more information on UL's PV services, visit: http://www.ul.com/dge/photovoltaics/.
UL is expanding its presence in Europe and Asia as the PV industry continues to experience significant global progress. The global installed capacity of solar photovoltaic power in GW has grown more than 1,000 percent from 2001 to 2008 and sales of photovoltaic technologies is predicted to reach $32.3 billion by 2012, according to BBC Research. Local service capabilities in San Jose, Calif., Suzhou, China, Frankfurt, Germany and upcoming facilities in Japan and India allow UL to bring an industry-leading portfolio of services to local markets and help manufacturers succeed in a rapidly changing environment.
The new state-of-the-art 22,600 square-foot testing facility in Germany houses 22 world-class testing chambers, including: fourteen climate chambers, four damp heat chambers, two large walk-ins and two temperature and humidity ovens and other cutting edge testing equipment. This added capacity allows UL to offer its European customers faster and more cost efficient testing processes due to the local presence and a highly skilled engineering team that speaks the local language. The comprehensive portfolio of services allows for global conformity assessment according to UL, IEC and EN certification requirements and enables faster global market access for UL's customers.
"The opening of the German facility marks another milestone in our photovoltaic global expansion and underscores our commitment to the industry and our customers," said Jeff Smidt, Vice President and General Manager for UL's Global Energy business. "Whether it is through our industry expertise, innovations in our service portfolio or investing in state-of-the-art facilities, we are expanding our capabilities to help manufacturers deliver innovative and safe PV products to the market."
UL is currently the only company in Europe that is fully accredited to test to UL 1703 and IEC/EN 61730 standards and its UL Mark has complete market acceptance in the U.S. The new facility enables small and large European manufacturers to locally test PV technologies and gain efficient access to the global market.
The Photovoltaic Technology Center of Excellence in Neu-Isenburg near Frankfurt/Main is located at Admiral-Rosendahl-Strasse 23, Neu-Isenburg (Zeppelinheim). To learn more about the new facility, visit: www.ul.com/pv-video. For more information on UL's PV services, visit: http://www.ul.com/dge/photovoltaics/.
ReneSola Announces Highlights from Its 2010 Analyst and Investor Day
JIASHAN, China, March 23 /PRNewswire-Asia-FirstCall/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA), a leading global manufacturer of solar wafers and provider of solar module original equipment manufacturer ("OEM") services, today summarized key highlights from its 2010 Analyst and Investor Day held March 18-19, 2010.
Members from ReneSola's senior management team led in-depth discussions regarding the Company's performance and strategies, as well as provided guided tours of its wafer, cell, module and polysilicon production facilities in Jiashan, Zhejiang province; Yixing, Jiangsu province; and Meishan, Sichuan province. Speakers at the event included Mr. Xianshou Li, Director and CEO; Mr. Charles Bai, CFO and recently appointed CSO effective April 1, 2010; Dr. Panjian Li, COO; and Ms. Julia Xu, VP of Corporate Finance and Corporate Communications and recently appointed CFO effective April 1, 2010.
Mr. Xianshou Li commented on the event, "We are excited to have hosted our first Analyst and Investor Day, in which we were able to reiterate our strategic vision to become a leading producer of high-quality solar products with large-scale, cost-competitive wafer manufacturing and complementary solar module OEM services."
Mr. Li opened the event at the Company's Jiashan headquarters with a presentation highlighting ReneSola's recent milestones and company performance while emphasizing ReneSola's scale and cost advantages as significant drivers for the Company's success. In 2009, ReneSola ranked as one of the top global wafer producers in the world based on total wafer production capacity. The Company expects to achieve continued cost reductions by capitalizing on economies of scale and improved technologies, which are expected to reduce wafer cost to US$0.55 per watt by the end of 2010.
Following the presentation and wafer plant tour, participants travelled to Yixing for a tour of JC Solar, the Company's downstream solar module OEM provider. ReneSola expects to see a significant contribution from JC Solar, whose OEM services provide existing wafer customers value-added manufacturing capabilities. The Company currently has contracts for over 250 megawatts ("MW") of solar modules in 2010 and expects solar module production capacity to reach 375 MW by the end of March. Mr. Li noted that the Company's OEM contracts, which are usually large and fixed orders over an extended period of time, provide stable returns for the Company.
The tour concluded in Sichuan province with participants visiting the Company's polysilicon plant in Meishan. The plant's two phases have begun trial production with Phase 1 expected to achieve closed loop manufacturing integration in March following the activation of Trichlorosilane ("TCS") synthesis and hydrogenation. Closed loop manufacturing for Phase 2 is expected to be fully integrated within a few months. Mr. Li noted that the plant's Meishan location provides important competitive advantages including access to low-cost electricity and a talented pool of experienced engineers located in Sichuan province. ReneSola plans to produce 1,500 to 1,900 metric tonnes ("MT") of polysilicon in 2010, which is expected to help decrease in-house polysilicon production cost to approximately US$40 per kilogram by the end of 2010.
ReneSola reiterated that for the full year 2010, the Company expects to ship 900 MW to 950 MW of solar products, while achieving gross margins of 17% to 20% and positive net income. ReneSola also expects to reach wafer production capacity of approximately 1 GW in 2010, contributing to the Company's goal of achieving 10% to 12% of global market share in terms of total solar product shipments.
An archived webcast and presentation slides are available on the Investor Relations section of the Company's website at http://www.renesola.com .
Members from ReneSola's senior management team led in-depth discussions regarding the Company's performance and strategies, as well as provided guided tours of its wafer, cell, module and polysilicon production facilities in Jiashan, Zhejiang province; Yixing, Jiangsu province; and Meishan, Sichuan province. Speakers at the event included Mr. Xianshou Li, Director and CEO; Mr. Charles Bai, CFO and recently appointed CSO effective April 1, 2010; Dr. Panjian Li, COO; and Ms. Julia Xu, VP of Corporate Finance and Corporate Communications and recently appointed CFO effective April 1, 2010.
Mr. Xianshou Li commented on the event, "We are excited to have hosted our first Analyst and Investor Day, in which we were able to reiterate our strategic vision to become a leading producer of high-quality solar products with large-scale, cost-competitive wafer manufacturing and complementary solar module OEM services."
Mr. Li opened the event at the Company's Jiashan headquarters with a presentation highlighting ReneSola's recent milestones and company performance while emphasizing ReneSola's scale and cost advantages as significant drivers for the Company's success. In 2009, ReneSola ranked as one of the top global wafer producers in the world based on total wafer production capacity. The Company expects to achieve continued cost reductions by capitalizing on economies of scale and improved technologies, which are expected to reduce wafer cost to US$0.55 per watt by the end of 2010.
Following the presentation and wafer plant tour, participants travelled to Yixing for a tour of JC Solar, the Company's downstream solar module OEM provider. ReneSola expects to see a significant contribution from JC Solar, whose OEM services provide existing wafer customers value-added manufacturing capabilities. The Company currently has contracts for over 250 megawatts ("MW") of solar modules in 2010 and expects solar module production capacity to reach 375 MW by the end of March. Mr. Li noted that the Company's OEM contracts, which are usually large and fixed orders over an extended period of time, provide stable returns for the Company.
The tour concluded in Sichuan province with participants visiting the Company's polysilicon plant in Meishan. The plant's two phases have begun trial production with Phase 1 expected to achieve closed loop manufacturing integration in March following the activation of Trichlorosilane ("TCS") synthesis and hydrogenation. Closed loop manufacturing for Phase 2 is expected to be fully integrated within a few months. Mr. Li noted that the plant's Meishan location provides important competitive advantages including access to low-cost electricity and a talented pool of experienced engineers located in Sichuan province. ReneSola plans to produce 1,500 to 1,900 metric tonnes ("MT") of polysilicon in 2010, which is expected to help decrease in-house polysilicon production cost to approximately US$40 per kilogram by the end of 2010.
ReneSola reiterated that for the full year 2010, the Company expects to ship 900 MW to 950 MW of solar products, while achieving gross margins of 17% to 20% and positive net income. ReneSola also expects to reach wafer production capacity of approximately 1 GW in 2010, contributing to the Company's goal of achieving 10% to 12% of global market share in terms of total solar product shipments.
An archived webcast and presentation slides are available on the Investor Relations section of the Company's website at http://www.renesola.com .
Voltaix Receives $10 Million in Equity Financing from MissionPoint Capital
BRANCHBURG, N.J., March 23 /PRNewswire/ -- Voltaix, a leading provider of materials that enhance the performance of semiconductor chips and solar cells, announced today that it has received $10 million in equity financing from MissionPoint Capital Partners, a private investment firm providing growth capital to companies focused on clean energy solutions. Voltaix also announced that Mark Schwartz, co-founder and Chairman of MissionPoint and formerly Chairman of Goldman Sachs Asia, has joined the Voltaix board of directors.
"Mark Schwartz brings tremendous experience and insight to our board of directors and will help Voltaix become a global leader in advanced materials manufacturing," said Peter B. de Neufville, Chairman of Voltaix. "This equity financing will help Voltaix significantly increase our production and development capabilities, and will enable Voltaix to expand our activity in Asian markets."
"With a quarter century of technology leadership, Voltaix has a strong legacy of innovation that has helped electronics manufacturers support the expanding demand for applications such as thin film photovoltaics," said Schwartz. "Voltaix is positioned to capitalize on extraordinary growth opportunities as a result of the transition to low-carbon technologies. Our investment in Voltaix is consistent with MissionPoint's strategy to partner with companies spearheading this global transformation."
"Solar cell producers are increasingly focused on materials that increase cell efficiency, and Voltaix is on the leading edge of innovation in this area," said Mark K. Fine, Chief Executive Officer of Voltaix. "This partnership with MissionPoint strengthens our ability to maintain our leadership position as a developer of enhanced products for the PV and semiconductor industry."
According to Paula Mints, Principal Analyst at Navigant Consulting, shipments of thin film photovoltaics (using amorphous silicon, CdTe and CIGS technologies) grew at a compound annual rate of more than 100% from 2005 through 2009 and should reach $9 billion by 2015.
Following a 22-year career at Goldman Sachs, Mark Schwartz served as President and CEO of Soros Fund Management from 2002 through 2004.
"Mark Schwartz brings tremendous experience and insight to our board of directors and will help Voltaix become a global leader in advanced materials manufacturing," said Peter B. de Neufville, Chairman of Voltaix. "This equity financing will help Voltaix significantly increase our production and development capabilities, and will enable Voltaix to expand our activity in Asian markets."
"With a quarter century of technology leadership, Voltaix has a strong legacy of innovation that has helped electronics manufacturers support the expanding demand for applications such as thin film photovoltaics," said Schwartz. "Voltaix is positioned to capitalize on extraordinary growth opportunities as a result of the transition to low-carbon technologies. Our investment in Voltaix is consistent with MissionPoint's strategy to partner with companies spearheading this global transformation."
"Solar cell producers are increasingly focused on materials that increase cell efficiency, and Voltaix is on the leading edge of innovation in this area," said Mark K. Fine, Chief Executive Officer of Voltaix. "This partnership with MissionPoint strengthens our ability to maintain our leadership position as a developer of enhanced products for the PV and semiconductor industry."
According to Paula Mints, Principal Analyst at Navigant Consulting, shipments of thin film photovoltaics (using amorphous silicon, CdTe and CIGS technologies) grew at a compound annual rate of more than 100% from 2005 through 2009 and should reach $9 billion by 2015.
Following a 22-year career at Goldman Sachs, Mark Schwartz served as President and CEO of Soros Fund Management from 2002 through 2004.
AccuStrata Inc. Receives $70,000 EPA Grant
COLLEGE PARK, Md., March 23 /PRNewswire-USNewswire/ -- AccuStrata Inc., a company in the Maryland Technology Enterprise Institute's Technology Advancement Program incubator developing intelligent, real-time optical control systems that improve the manufacturing yield and efficiency of thin-film solar panels, has been awarded a $70,000, phase-one Small Business Innovation Research (SBIR) grant from the Environmental Protection Agency, university officials announce today.
AccuStrata will use the funding to refine its field-tested, patent-protected system for monitoring the effectiveness of thin-film solar panel production in real time, enabling manufacturers to make on-the-fly adjustments and ensure panels' efficiency.
"This funding will enable us to advance our novel thin-film solar panel manufacturing control system," says George Atanasoff, president of AccuStrata. "Our pilot tests in real production environments have shown that solar cells manufactured with our system should be able to produce 15-20 percent more power, resulting in increased revenue and profit for manufacturers."
AccuStrata is developing solutions for both thin-film solar panel and crystalline silicon solar cell manufacturers. The company also plans to enter additional markets using thin-film deposition, such as nanotechnology, touch screen displays, and high-brightness LEDs.
In late 2009, AccuStrata won a $150,000, phase-one Department of Energy Small Business Innovation Research grant. In June 2009, the company received a National Science Foundation phase-one SBIR grant for $100,000. In August 2009, the company won another DOE Supply Chain grant for $150,000. The company also received funding from the Maryland Technology Development Corporation through the Maryland Technology Transfer Fund.
AccuStrata was selected as the Maryland Incubator Company of the Year in 2008 and was again nominated for Maryland Incubator Company of the Year in 2009.
AccuStrata will use the funding to refine its field-tested, patent-protected system for monitoring the effectiveness of thin-film solar panel production in real time, enabling manufacturers to make on-the-fly adjustments and ensure panels' efficiency.
"This funding will enable us to advance our novel thin-film solar panel manufacturing control system," says George Atanasoff, president of AccuStrata. "Our pilot tests in real production environments have shown that solar cells manufactured with our system should be able to produce 15-20 percent more power, resulting in increased revenue and profit for manufacturers."
AccuStrata is developing solutions for both thin-film solar panel and crystalline silicon solar cell manufacturers. The company also plans to enter additional markets using thin-film deposition, such as nanotechnology, touch screen displays, and high-brightness LEDs.
In late 2009, AccuStrata won a $150,000, phase-one Department of Energy Small Business Innovation Research grant. In June 2009, the company received a National Science Foundation phase-one SBIR grant for $100,000. In August 2009, the company won another DOE Supply Chain grant for $150,000. The company also received funding from the Maryland Technology Development Corporation through the Maryland Technology Transfer Fund.
AccuStrata was selected as the Maryland Incubator Company of the Year in 2008 and was again nominated for Maryland Incubator Company of the Year in 2009.
Portland Radio Personality Moves Into an EarthSmart Home, Offering Real-Time Commentary.
PORTLAND, Ore., March 23 /PRNewswire/ -- This Thursday, March 25, Sheryl Stewart, environmentally conscious radio personality at KRSK FM, 105.1 The Buzz, along with her husband, will move into an EarthSmart home at the Edgewater on the Tualatin, an Oregon community. This social media "test drive" will give homebuyers the opportunity to hear, read, and see what it is like to live in the premier solar, sustainable and affordable community in the Pacific Northwest. Stewart will comment, write and shoot video clips about living in a new home that has taken building sciences a further step, by utilizing the latest green building technologies to be more sustainable.
EarthSmart homes have a smaller footprint while maintaining a high level of energy efficiency, healthy indoor air quality and environmental responsibility. Legend Homes is the first major Northwest homebuilder to incorporate solar energy as a standard feature in this new community that also features native plantings, numerous walkways, a park and bicycle paths. Edgewater on the Tualatin, encircled by the Tualatin River also has several wetland areas that were restored by Legend Homes in 2005.
According to the SmartMarket Consumer Report on Green Consumers, 70 percent of all new homebuyers believe the cost of sustainable homes are beyond their means. EarthSmart Legend Homes start at $296,323, consumers can still take advantage of federal tax credits, including the $8,000 credit for first homebuyers slated to end April 30, 2010 as well as up to $2,000 for the solar federal tax incentive.
EarthSmart homes are certified by Earth Advantage and Energy Star, and feature some of the newest and most innovative products and technologies including a 91.5 percent high-efficiency gas furnace built into the living space of the home, sealed HVAC duct systems, raised heel roof trusses, blown-in loose fill wall insulations, extensive air sealing and window tightening systems, and more. For information about the green construction science standard to an EarthSmart home, go to legendhomes.com.
EarthSmart homes have a smaller footprint while maintaining a high level of energy efficiency, healthy indoor air quality and environmental responsibility. Legend Homes is the first major Northwest homebuilder to incorporate solar energy as a standard feature in this new community that also features native plantings, numerous walkways, a park and bicycle paths. Edgewater on the Tualatin, encircled by the Tualatin River also has several wetland areas that were restored by Legend Homes in 2005.
According to the SmartMarket Consumer Report on Green Consumers, 70 percent of all new homebuyers believe the cost of sustainable homes are beyond their means. EarthSmart Legend Homes start at $296,323, consumers can still take advantage of federal tax credits, including the $8,000 credit for first homebuyers slated to end April 30, 2010 as well as up to $2,000 for the solar federal tax incentive.
EarthSmart homes are certified by Earth Advantage and Energy Star, and feature some of the newest and most innovative products and technologies including a 91.5 percent high-efficiency gas furnace built into the living space of the home, sealed HVAC duct systems, raised heel roof trusses, blown-in loose fill wall insulations, extensive air sealing and window tightening systems, and more. For information about the green construction science standard to an EarthSmart home, go to legendhomes.com.
Silicon Valley Toxics Coalition Sheds Light on Solar Industry Practices With Manufacturer Scorecard
SAN JOSE, Calif.--(BUSINESS WIRE)--The Silicon Valley Toxics Coalition (SVTC) today released its 2010 Solar Company Scorecard that ranks manufacturers of solar photovoltaic (PV) modules according to a range of factors including environmental health and safety, sustainability, workers’ rights, and social justice. Companies self-reported on these areas and the results serve as a resource for institutional purchasers, investors and consumers.
“Solar power is key to helping solve the world’s climate crisis,” explained Sheila Davis, executive director of SVTC. “But the industry still faces serious issues that need to be addressed before it can be considered truly ‘clean and green’ and socially just.”
The 14 responding companies represented 24 percent of the 2008 module market share and 31 percent of the cumulative market share. The top three scores were earned by German manufacturers Calyxo, SolarWorld and Sovello, scoring 90, 88 and 73 respectively. The two U.S.-based respondents scored in the mid range: First Solar in Arizona received a score of 67 and Colorado-based Abound received a 63. The report also found that:
“The solar industry needs high corporate responsibility standards if it is to fulfill its potential as a truly sustainable industry,” said Seb Beloe, head of sustainable and responsible investment (SRI) research at Henderson Global Investors, which sponsored the survey. “Supporting SVTC’s groundbreaking research was significant because it is the first time that the social and environmental performance of solar companies has been assessed and compared.”
“The solar industry can learn from other industries that have adopted responsible social, environmental and supply chain standards in order to prevent future problems,” added Steven Heim, director of social research and advocacy for Boston Common Asset Management, another sponsor. “SVTC’s research will help promote best practices by the solar industry.”
SVTC is calling for mandatory takeback and responsible recycling by solar companies as a step toward reducing the solar industry’s environmental footprint. As the solar industry works to replace fossil fuels, it is in the industry’s best interest to ensure that pollutants from the panels don’t enter the environment. Only the solar producers can ensure that this will happen by eliminating toxic chemicals from their products and by taking responsibility for their environmental and health impacts throughout the entire lifecycle. To view the full scorecard, please visit www.solarscorecard.com.
The Solar Company Scorecard follows the release of SVTC’s Toward a Just and Sustainable Solar Energy Industry report issued in January 2009 as part of the organization’s Clean and Just Solar Energy Campaign. The report detailed the hazards related to the manufacturing and disposal of solar PV panels and recommends actions that the solar industry can take toward creating a sustainable sector.
“Solar power is key to helping solve the world’s climate crisis,” explained Sheila Davis, executive director of SVTC. “But the industry still faces serious issues that need to be addressed before it can be considered truly ‘clean and green’ and socially just.”
The 14 responding companies represented 24 percent of the 2008 module market share and 31 percent of the cumulative market share. The top three scores were earned by German manufacturers Calyxo, SolarWorld and Sovello, scoring 90, 88 and 73 respectively. The two U.S.-based respondents scored in the mid range: First Solar in Arizona received a score of 67 and Colorado-based Abound received a 63. The report also found that:
- 57% of respondents would support mandatory takeback and recycling programs in the markets where they sell solar panels.
- 42.8% of companies are setting aside money to finance the collection and disposal of end-of-life panels and 50% said that they provide recycling services free of charge.
- 50% have undertaken analysis of their supply chain to document the social and environmental impacts associated with different production phases.
- 36% of companies said that they conduct lifecycle analyses or risk assessments on new chemicals, including nanomaterials.
“The solar industry needs high corporate responsibility standards if it is to fulfill its potential as a truly sustainable industry,” said Seb Beloe, head of sustainable and responsible investment (SRI) research at Henderson Global Investors, which sponsored the survey. “Supporting SVTC’s groundbreaking research was significant because it is the first time that the social and environmental performance of solar companies has been assessed and compared.”
“The solar industry can learn from other industries that have adopted responsible social, environmental and supply chain standards in order to prevent future problems,” added Steven Heim, director of social research and advocacy for Boston Common Asset Management, another sponsor. “SVTC’s research will help promote best practices by the solar industry.”
SVTC is calling for mandatory takeback and responsible recycling by solar companies as a step toward reducing the solar industry’s environmental footprint. As the solar industry works to replace fossil fuels, it is in the industry’s best interest to ensure that pollutants from the panels don’t enter the environment. Only the solar producers can ensure that this will happen by eliminating toxic chemicals from their products and by taking responsibility for their environmental and health impacts throughout the entire lifecycle. To view the full scorecard, please visit www.solarscorecard.com.
The Solar Company Scorecard follows the release of SVTC’s Toward a Just and Sustainable Solar Energy Industry report issued in January 2009 as part of the organization’s Clean and Just Solar Energy Campaign. The report detailed the hazards related to the manufacturing and disposal of solar PV panels and recommends actions that the solar industry can take toward creating a sustainable sector.
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