DENVER--(BUSINESS WIRE)--Xcel Energy is now operating a first-of-its-kind demonstration of a hybrid solar-coal approach, using parabolic-trough solar technology integrated with a coal-fired power plant. The project, located at Xcel Energy’s Cameo Generating Station near Grand Junction, Colo., is designed to increase the plant’s efficiency, decrease the use of coal, test the commercial viability of concentrating solar power thermal integration, and lower carbon dioxide emissions. Abengoa Solar developed the parabolic-trough technology, which concentrates solar energy to provide heat for producing supplemental steam for electric power production.
“We are very excited about getting this unique renewable energy project on line,” said Kent Larson, vice president and chief energy supply officer for Xcel Energy. “If this project produces the successful results we expect, this type of solar thermal integration will help move the use of solar energy one step closer to being a potential technology for improving the environmental performance of coal-fired power plants for Xcel Energy and for utilities around the country.”
“We are pleased to work with Xcel Energy on this important innovative clean technology project. We believe that the solar approach being implemented at Cameo will provide a cost-effective way of delivering solar energy,” said Santiago Seage, Abengoa Solar CEO.
The project is the first under Xcel Energy’s new Innovative Clean Technology (ICT) Program, an initiative to test promising new technologies with potential to lower greenhouse gas emissions and result in other environmental improvements. Through the ICT Program, the company can pursue the development, commercialization and deployment of new power generation, energy storage and other technologies that support its clean energy strategy. It provides the opportunity to test these technologies and evaluate their cost, reliability and environmental performance at a demonstration scale before determining whether they should be deployed more widely for Colorado customers.
Customers can log on to www.xcelenergy.com where they will find more information and a video of the project. They will also learn more about Xcel Energy’s commitment to the environment by choosing the environment page under the company tab.
Wednesday, June 30, 2010
Solar Energy Initiatives, Inc. Announces Letter of Intent for $4 Million Solar Project in Georgia
PONTE VEDRA BEACH, FL--(Marketwire - June 30, 2010) - Solar Energy Initiatives, Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, today announced it has signed a letter of intent with a private developer to initiate a $4 million turn-key solar project in the State of Georgia. Under the completed agreement, Solar Energy Initiatives, Inc. will lead the project development effort including system design, installation, and operation of the proposed 1 megawatt (MW) of photovoltaic (PV) systems on site. The Company anticipates that the projects will break ground in the Winter of 2010 with completion scheduled sometime in the Summer of 2011.
"This announcement marks yet another success for the project development team at SNRY," stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. "Our ability to quickly secure these opportunities is the result of diligent preparation on the part of our management team. The market is moving quickly and we are poised to react favorably for the benefit of our shareholders."
Solar Energy Initiatives will serve as the developer of the project and will provide all of the solar equipment and balance of system to the commercial site. In addition to product sales and services, the Company will also receive revenue from the management of the sale of the newly generated solar electricity and solar renewable energy credits (SRECS) to the local utility, over a 10-year contract period. SNRY plans to partner with a major funding source, as well as a recognized local solar installer, to launch the solar system. The project is designed to utilize approximately 4,250 solar panels totaling 1 megawatts of installed capacity and is projected to reduce hazardous carbon dioxide emissions by 1,500 tons, annually.
"This announcement marks yet another success for the project development team at SNRY," stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. "Our ability to quickly secure these opportunities is the result of diligent preparation on the part of our management team. The market is moving quickly and we are poised to react favorably for the benefit of our shareholders."
Solar Energy Initiatives will serve as the developer of the project and will provide all of the solar equipment and balance of system to the commercial site. In addition to product sales and services, the Company will also receive revenue from the management of the sale of the newly generated solar electricity and solar renewable energy credits (SRECS) to the local utility, over a 10-year contract period. SNRY plans to partner with a major funding source, as well as a recognized local solar installer, to launch the solar system. The project is designed to utilize approximately 4,250 solar panels totaling 1 megawatts of installed capacity and is projected to reduce hazardous carbon dioxide emissions by 1,500 tons, annually.
Alanod-Solar Introduces New MIRO-Fin Solar Thermal Absorbers
ENNEPETAL, GERMANY--(Marketwire - June 30, 2010) - Alanod-Solar, the worldwide leader in advanced reflective and absorptive solar surfaces, today introduced two new solar thermal absorber surfaces that provide an economical, highly efficient, and durable solution for North American flat plate collector manufacturers.
The new mirosol® TS and mirosol® WP surfaces are black lacquered selective surfaces on aluminum that will also be available as laser welded MIRO-Fin® absorbers manufactured by Alanod-Westlake. Both materials will be on display for the first time in North America at Intersolar in San Francisco, booth 7922C from July 13-15, 2010.
"This is a quantum leap forward in technology over the black paint absorbers used in many collectors in the United States today," said Andy Sabel, North American market manager for Alanod-Solar. "Flat plate collectors built with Alanod-Solar's new absorbers can economically attain significantly higher levels of efficiency and durability than current collectors."
Both new surfaces are designed for more rugged applications in higher radiation or DNI areas such as the Southwestern United States and Hawaii. These new surfaces feature a black selective surface to economically achieve a high level of efficiency and low emissivity. The selective coating means that these surfaces are far superior to traditional black painted surfaces used in more rudimentary solar thermal collectors. mirosol TS and mirosol WP are each guaranteed for ten years.
mirosol TS is specifically designed for high radiation areas. It boasts a high level of thermal sensitivity with 90 percent absorption and 20 percent emission. It features a lacquer coating on aluminum, and is insensitive to fingerprints.
mirosol WP has been developed for use in air collectors and along coastal areas with a high resistance to corrosion, even in salt-water environments. A lacquer coating on aluminum, it is hydrophobic and insensitive to fingerprints.
For more information about mirosol TS or mirosol WP, or to learn about the company's complete line of reflecting and absorbing surfaces for solar applications, please visit http://www.alanod-solar.us or call 1-888-52-SOLAR. Samples of mirosol TS and mirosol WP will be available for viewing at Alanod-Solar booth 7922C at Intersolar North America in San Francisco from July 13-15, 2010.
The new mirosol® TS and mirosol® WP surfaces are black lacquered selective surfaces on aluminum that will also be available as laser welded MIRO-Fin® absorbers manufactured by Alanod-Westlake. Both materials will be on display for the first time in North America at Intersolar in San Francisco, booth 7922C from July 13-15, 2010.
"This is a quantum leap forward in technology over the black paint absorbers used in many collectors in the United States today," said Andy Sabel, North American market manager for Alanod-Solar. "Flat plate collectors built with Alanod-Solar's new absorbers can economically attain significantly higher levels of efficiency and durability than current collectors."
Both new surfaces are designed for more rugged applications in higher radiation or DNI areas such as the Southwestern United States and Hawaii. These new surfaces feature a black selective surface to economically achieve a high level of efficiency and low emissivity. The selective coating means that these surfaces are far superior to traditional black painted surfaces used in more rudimentary solar thermal collectors. mirosol TS and mirosol WP are each guaranteed for ten years.
mirosol TS is specifically designed for high radiation areas. It boasts a high level of thermal sensitivity with 90 percent absorption and 20 percent emission. It features a lacquer coating on aluminum, and is insensitive to fingerprints.
mirosol WP has been developed for use in air collectors and along coastal areas with a high resistance to corrosion, even in salt-water environments. A lacquer coating on aluminum, it is hydrophobic and insensitive to fingerprints.
For more information about mirosol TS or mirosol WP, or to learn about the company's complete line of reflecting and absorbing surfaces for solar applications, please visit http://www.alanod-solar.us or call 1-888-52-SOLAR. Samples of mirosol TS and mirosol WP will be available for viewing at Alanod-Solar booth 7922C at Intersolar North America in San Francisco from July 13-15, 2010.
Pacific Blue Energy Corp. Secures Purchase Option For Ideal 800 Acre Solar Energy Site in Gila Bend, Arizona
PHOENIX, AZ, June 30 /PRNewswire-FirstCall/ - Pacific Blue Energy Corp. (OTCBB: PBEC), a publicly traded developer of renewable energy projects, is pleased to announce that it has secured the option to purchase 807 acres of solar energy zoned land in Gila Bend, Arizona. The option to purchase is the next important step in the company's progress as a developer of clean, affordable renewable energy.
Located only thirty miles West of downtown Phoenix, the three noncontiguous parcels comprise an ideal site for a solar energy farm. The parcels are relatively flat, have no drainage problems and are within a quarter mile of an electrical substation. The property has already been zoned for solar energy by the local municipal authority and three other solar projects are under construction in the area.
"We have been eyeing this property for some time because of the existing zoning, its outstanding potential as a site for a substantial 150 megawatt solar farm and its proximity to a large urban market," said Pacific Blue Energy Corp. CEO Joel Franklin. "Most importantly, the land is in a completely unconstrained area, which means that there is plenty of capacity on the local power lines to accommodate more sources of power."
Once the land is secured, the company will seek construction permits and - once approved - begin construction of the project. Franklin also noted that with the resources and management team recently put in place, Pacific Blue Energy Corp. can proceed simultaneously with its current Sunshine Solar Farm project near Flagstaff, Arizona, as well as the construction of the new much larger Gila Bend solar project.
"This is a very exciting venture for Pacific Blue Energy Corp. as this important new project helps us continue to make all of our plans a reality," Franklin said.
Located only thirty miles West of downtown Phoenix, the three noncontiguous parcels comprise an ideal site for a solar energy farm. The parcels are relatively flat, have no drainage problems and are within a quarter mile of an electrical substation. The property has already been zoned for solar energy by the local municipal authority and three other solar projects are under construction in the area.
"We have been eyeing this property for some time because of the existing zoning, its outstanding potential as a site for a substantial 150 megawatt solar farm and its proximity to a large urban market," said Pacific Blue Energy Corp. CEO Joel Franklin. "Most importantly, the land is in a completely unconstrained area, which means that there is plenty of capacity on the local power lines to accommodate more sources of power."
Once the land is secured, the company will seek construction permits and - once approved - begin construction of the project. Franklin also noted that with the resources and management team recently put in place, Pacific Blue Energy Corp. can proceed simultaneously with its current Sunshine Solar Farm project near Flagstaff, Arizona, as well as the construction of the new much larger Gila Bend solar project.
"This is a very exciting venture for Pacific Blue Energy Corp. as this important new project helps us continue to make all of our plans a reality," Franklin said.
First Ronald McDonald House in California Goes Solar
ONTARIO, Canada and SAN DIEGO, Calif., June 30 /PRNewswire-Asia-FirstCall/ -- Ronald McDonald House Charities of San Diego, Canadian Solar Inc. ("the Company," "Canadian Solar" or "we") (Nasdaq: CSIQ), one of the world's largest solar companies, and HelioPower, a leading solar power engineering and installation firm, announced today a new 116kW roof- mount photovoltaic (PV) solar electric system at the Ronald McDonald House of San Diego at 2929 Children's Way in San Diego. This is the first Ronald McDonald House in California to use solar energy to help power the House that supports families with seriously ill children in local hospitals.
Ronald McDonald House of San Diego will serve more than 20,000 families this year alone, and the solar electric installation will help offset the electrical needs of the families with clean energy. This month, the House celebrates the one-year anniversary of its 47-bedroom House for overnight guests and its Family Care Center, which serves as a day-time refuge for anyone with a child in a San Diego hospital.
"The Ronald McDonald House ensures families in San Diego receive the necessities they need as they care for their sick child, and we are so pleased to be able to provide our high-quality modules to this pivotal community facility," said Mike Miskovsky, U.S. general manager of Canadian Solar, Inc. "Through its leadership in California implementing a renewable energy solution, the Ronald McDonald House of San Diego will reap significant financial savings while contributing to environmental sustainability for years to come."
The Ronald McDonald House of San Diego solar electric system will produce an average of 147,846 kilowatt hours (kW/h) per year. The environmental offset is equivalent to curtailing the release of 151,420 pounds of carbon dioxide each year, or planting 554 new trees and sequestering the carbon dioxide over their lifetime.
The solar installation was designed and constructed by HelioPower and financed by Helio Micro Utility, and consists of 518 Canadian Solar CS6P-220P polycrystalline modules. These modules are among the top-ranked in the industry in PV USA (PTC) ratings, which are quickly becoming universally accepted standards for measuring real-world module energy production and performance. PV Powered, Inc., an Advanced Energy company, supplied the 100kW inverter. Canadian Solar, HelioPower and PV Powered all donated price reductions to benefit the charity.
"Ronald McDonald House decided to pursue solar energy to create a healthy and sustainable environment for the children and families we serve, and to help greatly offset power costs," said Bill Lennartz, president and CEO of Ronald McDonald House of San Diego. "Our partners have been vital to our success as a resource to families in some of the most challenging times of their lives, and we are excited to now be producing clean solar energy to help us provide care to even more families."
The solar installation is part of the Ronald McDonald House of San Diego's pursuit of U.S. Green Building Council Leadership in Energy and Environmental Design (LEED) certification. The House was built according to strict green building standards, using a combination of high-efficiency mechanical systems and envelope and lighting design; it uses 17.5 percent less energy than a typical building in California. Materials used to create the building contain significant amounts of recycled content, and the building provides recycling collection stations to all house guests and employees.
"This is the first Ronald MacDonald House in California to go solar," said Steve LoRusso, vice president of commercial sales at HelioPower. "Working with our affiliate company, Helio Micro Utility, we developed the critical solar financing structure that worked for them as a nonprofit entity and supported their green building goals."
"Ronald McDonald House of San Diego makes life easier and more comfortable for many families in need. We are honored to be a part of helping so many people by providing our inverter, with its field-proven reliability and uptime, to this important solar installation" said Erick Petersen, VP of Sales and Marketing at PV Powered.
Ronald McDonald House of San Diego will serve more than 20,000 families this year alone, and the solar electric installation will help offset the electrical needs of the families with clean energy. This month, the House celebrates the one-year anniversary of its 47-bedroom House for overnight guests and its Family Care Center, which serves as a day-time refuge for anyone with a child in a San Diego hospital.
"The Ronald McDonald House ensures families in San Diego receive the necessities they need as they care for their sick child, and we are so pleased to be able to provide our high-quality modules to this pivotal community facility," said Mike Miskovsky, U.S. general manager of Canadian Solar, Inc. "Through its leadership in California implementing a renewable energy solution, the Ronald McDonald House of San Diego will reap significant financial savings while contributing to environmental sustainability for years to come."
The Ronald McDonald House of San Diego solar electric system will produce an average of 147,846 kilowatt hours (kW/h) per year. The environmental offset is equivalent to curtailing the release of 151,420 pounds of carbon dioxide each year, or planting 554 new trees and sequestering the carbon dioxide over their lifetime.
The solar installation was designed and constructed by HelioPower and financed by Helio Micro Utility, and consists of 518 Canadian Solar CS6P-220P polycrystalline modules. These modules are among the top-ranked in the industry in PV USA (PTC) ratings, which are quickly becoming universally accepted standards for measuring real-world module energy production and performance. PV Powered, Inc., an Advanced Energy company, supplied the 100kW inverter. Canadian Solar, HelioPower and PV Powered all donated price reductions to benefit the charity.
"Ronald McDonald House decided to pursue solar energy to create a healthy and sustainable environment for the children and families we serve, and to help greatly offset power costs," said Bill Lennartz, president and CEO of Ronald McDonald House of San Diego. "Our partners have been vital to our success as a resource to families in some of the most challenging times of their lives, and we are excited to now be producing clean solar energy to help us provide care to even more families."
The solar installation is part of the Ronald McDonald House of San Diego's pursuit of U.S. Green Building Council Leadership in Energy and Environmental Design (LEED) certification. The House was built according to strict green building standards, using a combination of high-efficiency mechanical systems and envelope and lighting design; it uses 17.5 percent less energy than a typical building in California. Materials used to create the building contain significant amounts of recycled content, and the building provides recycling collection stations to all house guests and employees.
"This is the first Ronald MacDonald House in California to go solar," said Steve LoRusso, vice president of commercial sales at HelioPower. "Working with our affiliate company, Helio Micro Utility, we developed the critical solar financing structure that worked for them as a nonprofit entity and supported their green building goals."
"Ronald McDonald House of San Diego makes life easier and more comfortable for many families in need. We are honored to be a part of helping so many people by providing our inverter, with its field-proven reliability and uptime, to this important solar installation" said Erick Petersen, VP of Sales and Marketing at PV Powered.
British Gas to Give 15 Million Pounds Sterling of Free Solar Panels to British Schools
LONDON, June 30 /PRNewswire/ -- British Gas today unveiled an unprecedented 15 million pounds Sterling investment in solar technology for the nation's schools.
The company will donate and install solar panels - worth between 20,000 and 40,000 pounds per school - in up to 750 schools. Each school will be able to generate its own free, green electricity, cutting as much as 20% off its annual electricity bill.
The energy produced by the panels is anticipated to create around 1.3m pounds per year for the next 25 years. This will be reinvested in installing solar panels on yet more schools. This means that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
The panels will also help the selected schools to meet their carbon reduction targets, reducing emissions by up to 1,400 tonnes per year, equivalent to taking almost 400 cars off the road.
The schools receiving solar panels will receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making. Specially created Generation Green lesson plans will help teachers engage their pupils in learning about renewable energy, and schools will be able to track their performance against others and share tips and advice via a specially designed website.
All schools in the UK can register for an application form at http://www.generationgreen.co.uk/. British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government's Community Energy Saving Programme (CESP).
Phil Bentley, Managing Director, British Gas, said:
"This is the biggest investment of its kind in solar technology for our nation's schools, which will help them cut both their carbon emissions and their electricity bills - as well as learn about renewable energy in a hands-on way.
"The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times."
Schools Minister Nick Gibb said:
"This is a very generous offer and I'm sure many schools will feel they can benefit from solar panels. Cutting down on energy costs and reducing carbon emissions are absolutely the right thing to do. It's a valuable lesson for pupils that we can all help to use energy sparingly, and where possible, generate it from sustainable or renewable resources."
Based on a formula created by the University of Bath's Centre for Research in Education and the Environment to measure the impact that teachers can have beyond the classroom, up to 1.8 million parents and family members could learn about renewable energy as a result of the initiative.
British Gas are the country's leading energy supplier; offering cheap electricity and energy saving schemes for all.
The company will donate and install solar panels - worth between 20,000 and 40,000 pounds per school - in up to 750 schools. Each school will be able to generate its own free, green electricity, cutting as much as 20% off its annual electricity bill.
The energy produced by the panels is anticipated to create around 1.3m pounds per year for the next 25 years. This will be reinvested in installing solar panels on yet more schools. This means that, in the next five years alone, British Gas could install free solar panels on a total of 1,100 schools.
The panels will also help the selected schools to meet their carbon reduction targets, reducing emissions by up to 1,400 tonnes per year, equivalent to taking almost 400 cars off the road.
The schools receiving solar panels will receive a British Gas smart meter, offering real time information so pupils can see the difference their solar panels are making. Specially created Generation Green lesson plans will help teachers engage their pupils in learning about renewable energy, and schools will be able to track their performance against others and share tips and advice via a specially designed website.
All schools in the UK can register for an application form at http://www.generationgreen.co.uk/. British Gas has already earmarked half of the total investment to ensure that schools in low income areas benefit from the initiative, and intends to deliver the technology to these schools in conjunction with the Government's Community Energy Saving Programme (CESP).
Phil Bentley, Managing Director, British Gas, said:
"This is the biggest investment of its kind in solar technology for our nation's schools, which will help them cut both their carbon emissions and their electricity bills - as well as learn about renewable energy in a hands-on way.
"The electricity generated by these schools will help pay for the scheme to be extended to even more schools throughout the country, which is great news for school leaders, parents and pupils who are all looking for ways to save money during these tough economic times."
Schools Minister Nick Gibb said:
"This is a very generous offer and I'm sure many schools will feel they can benefit from solar panels. Cutting down on energy costs and reducing carbon emissions are absolutely the right thing to do. It's a valuable lesson for pupils that we can all help to use energy sparingly, and where possible, generate it from sustainable or renewable resources."
Based on a formula created by the University of Bath's Centre for Research in Education and the Environment to measure the impact that teachers can have beyond the classroom, up to 1.8 million parents and family members could learn about renewable energy as a result of the initiative.
British Gas are the country's leading energy supplier; offering cheap electricity and energy saving schemes for all.
QuantaSol Restructures in Gear-Up to Volume Manufacture
KINGSTON-UPON-THAMES, England--(BUSINESS WIRE)--QuantaSol Ltd, the independent designer and manufacturer of strain-balanced quantum-well solar cells, has undergone significant restructuring as it readies for volume manufacture.
In late 2009 Chris Shannon was appointed CEO, in a strategic move to drive the business forward. Chris brings with him more than 20 years of experience and an impressive track record in product marketing, product development to manufacturing, and international sales growth. Throughout his career Chris has proven an ability to lead the successful growth and commercialisation of start-up companies including roles at Ezurio and Queensgate Instruments.
Since his appointment, Shannon has overseen two new appointments to the QuantaSol management team. Ivor Thomas joins as Chief Financial Officer and brings extensive experience from within several UK listed technology companies. His role at QuantaSol will involve the introduction of financial and operational systems in preparation for rapid growth.
Also joining as VP of Engineering is Dr Gianluca Bacchin, whose previous positions include Product Development Director at Intense Ltd and Senior Researcher/Engineer at Corning OTI.
Dr Tom Tibbits has become Director of Product Marketing in a move from his previous role at QuantaSol as Product Engineering Director. Tom has been with QuantaSol since its outset, having been a protégé of Keith Barnham, QuantaSol’s Chief Scientific Officer, whilst studying at Imperial College. Keith is Emeritus Professor of Physics and Senior Research Investigator in the Physics Department at Imperial, and his research is at the core of QuantaSol’s technology. Dr Tibbits was also privileged to have spent a year at the Fraunhofer Institute of Solar Energy Systems, furthering developments in this exciting area.
In June last year, QuantaSol announced it had a single-junction device, which achieved a record breaking 28.3% efficiency at greater than 500 suns when independently tested by Fraunhofer ISE. Following continual development to achieve multi-junction cells at even higher efficiency, the newly restructured company is now driving toward volume production and a product launch is expected later this year.
QuantaSol is funded and backed by the Low Carbon Accelerator and Imperial Innovations, and its strain-balanced quantum-well solar cell (SB-QWSC) is believed to be the highest performing single-junction concentrator cell in the world with the potential to enhance multi-junction cells to record efficiencies very soon.
Today’s triple junction solar cells are the workhorse of a typical high concentration photovoltaic (HCPV) system. By splitting the solar spectrum into three colour ‘bands’, each sub-cell in a triple junction device can convert the band of the spectrum to which it is sensitive at the best efficiency – this has led to world record efficiencies of >40% as compared to ~25% for traditional Silicon based technology.
The materials used in today’s leading triple-junction cells (InGaP, InGaAs, and Ge) are not the optimum combination of materials to maximise the potential efficiency of a triple-junction solar cell. QuantaSol can further enhance the efficiency of a triple-junction solar cell by using its Quantum Well technology to adjust, or ‘tune’, the sub-cells of a triple junction cell. By doing this, efficiency increases are possible, since the cell can be tuned to absorb and convert more of the available light. Both triple-junction solar cells and optoelectronic devices containing quantum wells (for example, semiconductor LASERs) are technologies with a long heritage in both research and commercial production. QuantaSol is able to combine these two technologies to enhance the efficiency of today’s market leading multi-junction solar cells, maintaining reliability and at a competitive cost to the CPV market in manufacture.
Professor Barnham's research team at Imperial College has pioneered the application of nanostructures such as quantum wells and quantum dots for solar photovoltaics.
The intellectual property generated through his research has resulted in a number of patents for the use of quantum wells in concentrator cells, the use of stress-balanced quantum wells in photovoltaic cells (SB-QWSC) and quantum dot light concentration (QDC).
QuantaSol was formed in 2007 to commercialise the technology. It was quick to develop high efficiency single junction quantum well solar cells, and has now developed very high efficiency triple junction solar cells, enabling the market for this new, lower-cost renewable electricity generating technology.
In late 2009 Chris Shannon was appointed CEO, in a strategic move to drive the business forward. Chris brings with him more than 20 years of experience and an impressive track record in product marketing, product development to manufacturing, and international sales growth. Throughout his career Chris has proven an ability to lead the successful growth and commercialisation of start-up companies including roles at Ezurio and Queensgate Instruments.
Since his appointment, Shannon has overseen two new appointments to the QuantaSol management team. Ivor Thomas joins as Chief Financial Officer and brings extensive experience from within several UK listed technology companies. His role at QuantaSol will involve the introduction of financial and operational systems in preparation for rapid growth.
Also joining as VP of Engineering is Dr Gianluca Bacchin, whose previous positions include Product Development Director at Intense Ltd and Senior Researcher/Engineer at Corning OTI.
Dr Tom Tibbits has become Director of Product Marketing in a move from his previous role at QuantaSol as Product Engineering Director. Tom has been with QuantaSol since its outset, having been a protégé of Keith Barnham, QuantaSol’s Chief Scientific Officer, whilst studying at Imperial College. Keith is Emeritus Professor of Physics and Senior Research Investigator in the Physics Department at Imperial, and his research is at the core of QuantaSol’s technology. Dr Tibbits was also privileged to have spent a year at the Fraunhofer Institute of Solar Energy Systems, furthering developments in this exciting area.
In June last year, QuantaSol announced it had a single-junction device, which achieved a record breaking 28.3% efficiency at greater than 500 suns when independently tested by Fraunhofer ISE. Following continual development to achieve multi-junction cells at even higher efficiency, the newly restructured company is now driving toward volume production and a product launch is expected later this year.
QuantaSol is funded and backed by the Low Carbon Accelerator and Imperial Innovations, and its strain-balanced quantum-well solar cell (SB-QWSC) is believed to be the highest performing single-junction concentrator cell in the world with the potential to enhance multi-junction cells to record efficiencies very soon.
Today’s triple junction solar cells are the workhorse of a typical high concentration photovoltaic (HCPV) system. By splitting the solar spectrum into three colour ‘bands’, each sub-cell in a triple junction device can convert the band of the spectrum to which it is sensitive at the best efficiency – this has led to world record efficiencies of >40% as compared to ~25% for traditional Silicon based technology.
The materials used in today’s leading triple-junction cells (InGaP, InGaAs, and Ge) are not the optimum combination of materials to maximise the potential efficiency of a triple-junction solar cell. QuantaSol can further enhance the efficiency of a triple-junction solar cell by using its Quantum Well technology to adjust, or ‘tune’, the sub-cells of a triple junction cell. By doing this, efficiency increases are possible, since the cell can be tuned to absorb and convert more of the available light. Both triple-junction solar cells and optoelectronic devices containing quantum wells (for example, semiconductor LASERs) are technologies with a long heritage in both research and commercial production. QuantaSol is able to combine these two technologies to enhance the efficiency of today’s market leading multi-junction solar cells, maintaining reliability and at a competitive cost to the CPV market in manufacture.
Professor Barnham's research team at Imperial College has pioneered the application of nanostructures such as quantum wells and quantum dots for solar photovoltaics.
The intellectual property generated through his research has resulted in a number of patents for the use of quantum wells in concentrator cells, the use of stress-balanced quantum wells in photovoltaic cells (SB-QWSC) and quantum dot light concentration (QDC).
QuantaSol was formed in 2007 to commercialise the technology. It was quick to develop high efficiency single junction quantum well solar cells, and has now developed very high efficiency triple junction solar cells, enabling the market for this new, lower-cost renewable electricity generating technology.
Ten at SolarWorld Celebrate 30 Years of Solar-Pioneer Leadership
CAMARILLO, Calif.--(BUSINESS WIRE)--A contingent of SolarWorld employees here is celebrating at least 30 years of building the world’s best-performing solar modules at a factory that has continuously blazed a trail for the U.S. photovoltaic manufacturing industry.
Raju Yenamandra went to work at the plant in June 1980, for instance, after earning a master’s degree in engineering with a concentration on solar at Florida Institute of Technology in the late 1970s, just as industry-scale manufacturing began to gain traction. He is among the 10 most veteran employees, two of whom started in 1979. Their specializations, centered on Camarillo’s module assembly operations, includes lamination, quality control, logistics, document control and facilities.
Now vice president of U.S. sales, Mr. Yenamandra recently was quoted on Greenbuildingadvisor.com. Writer Martin Holladay reported dismantling a module produced at the plant and installed on his roof in 1980, then testing the module’s performance. Concluding the module still generates electricity at original specifications, he wrote in the article, “It certainly looks as if it’s ready to perform for another decade.”
The most enduring U.S. solar production facility, the Camarillo plant was first to produce 1 megawatt of solar technology in a year, secure UL certification for a panel and offer a 25-year performance warranty. This year, it was first to offer a linear warranty. As the company aggressively expands this year, the sales and marketing unit based in Camarillo is doubling in size to deploy much higher volumes.
Mr. Yenamandra is directing implementation of the redoubled sales strategy. “SolarWorld’s dogged and bold advance in technological leadership and economies of scale in production on U.S. soil has continued to realize decades of vision, research and pioneering by my many colleagues since the 1970s,” Mr. Yenamandra said. “The achievement is both professionally and personally awesome to behold.”
The Camarillo site grew out of a startup launched in 1975. It sold to ARCO Solar, ARCO to Siemens Solar, and Siemens to Shell Solar. SolarWorld purchased Shell’s solar factories in 2006 and opened an even bigger plant in Hillsboro, Ore., in 2008. Many key U.S. company personnel, however, remain the same.
Raju Yenamandra went to work at the plant in June 1980, for instance, after earning a master’s degree in engineering with a concentration on solar at Florida Institute of Technology in the late 1970s, just as industry-scale manufacturing began to gain traction. He is among the 10 most veteran employees, two of whom started in 1979. Their specializations, centered on Camarillo’s module assembly operations, includes lamination, quality control, logistics, document control and facilities.
Now vice president of U.S. sales, Mr. Yenamandra recently was quoted on Greenbuildingadvisor.com. Writer Martin Holladay reported dismantling a module produced at the plant and installed on his roof in 1980, then testing the module’s performance. Concluding the module still generates electricity at original specifications, he wrote in the article, “It certainly looks as if it’s ready to perform for another decade.”
The most enduring U.S. solar production facility, the Camarillo plant was first to produce 1 megawatt of solar technology in a year, secure UL certification for a panel and offer a 25-year performance warranty. This year, it was first to offer a linear warranty. As the company aggressively expands this year, the sales and marketing unit based in Camarillo is doubling in size to deploy much higher volumes.
Mr. Yenamandra is directing implementation of the redoubled sales strategy. “SolarWorld’s dogged and bold advance in technological leadership and economies of scale in production on U.S. soil has continued to realize decades of vision, research and pioneering by my many colleagues since the 1970s,” Mr. Yenamandra said. “The achievement is both professionally and personally awesome to behold.”
The Camarillo site grew out of a startup launched in 1975. It sold to ARCO Solar, ARCO to Siemens Solar, and Siemens to Shell Solar. SolarWorld purchased Shell’s solar factories in 2006 and opened an even bigger plant in Hillsboro, Ore., in 2008. Many key U.S. company personnel, however, remain the same.
KYOCERA Supplies Solar Modules for Toyota Marine Recreational Boats
KYOTO,Japan--(BUSINESS WIRE)--Kyocera Corporation (NYSE:KYO) today announced that the company has started supplying solar modules for "Toyota Solar Panels," which are to be installed in recreational boats manufactured and sold by Toyota Motor Corporation (herein "Toyota"). Toyota Solar Panels can also be installed as an optional unit on recreational boats manufactured by other companies.
This solar module will be exhibited in the Kyocera booth at PV Japan 2010, the solar energy trade exhibition, held at Pacifico Yokohama, Japan from June 30 through July 2, 2010.
Electricity generated by the solar modules can be used to charge a battery to provide a supplemental, durable power source for the various electronics and appliances installed on recreational boats. In addition to reducing CO2 emissions, the solar charging system prevents a battery from deteriorating during extended periods of non-use while docked.
This new marine application follows the introduction of Kyocera solar modules as an optional feature on the Toyota Prius beginning in May 2009.
For this product, Kyocera has implemented strict quality control measures, with rigorous testing to confirm heat resistance, vibration resistance, shock resistance and other evaluations to ensure reliability. Furthermore, Kyocera has established a dedicated production line with specialized engineers to ensure thorough control of the manufacturing process.
As a leader in solar energy since 1975, Kyocera will apply its extensive R&D resources to further enhance the quality of its solar cells and modules while exploring new applications for clean, renewable solar energy technology.
This solar module will be exhibited in the Kyocera booth at PV Japan 2010, the solar energy trade exhibition, held at Pacifico Yokohama, Japan from June 30 through July 2, 2010.
Electricity generated by the solar modules can be used to charge a battery to provide a supplemental, durable power source for the various electronics and appliances installed on recreational boats. In addition to reducing CO2 emissions, the solar charging system prevents a battery from deteriorating during extended periods of non-use while docked.
This new marine application follows the introduction of Kyocera solar modules as an optional feature on the Toyota Prius beginning in May 2009.
For this product, Kyocera has implemented strict quality control measures, with rigorous testing to confirm heat resistance, vibration resistance, shock resistance and other evaluations to ensure reliability. Furthermore, Kyocera has established a dedicated production line with specialized engineers to ensure thorough control of the manufacturing process.
As a leader in solar energy since 1975, Kyocera will apply its extensive R&D resources to further enhance the quality of its solar cells and modules while exploring new applications for clean, renewable solar energy technology.
BTU International Receives $16 Million Order for In-Line Diffusion Equipment
NORTH BILLERICA, Mass.--(BUSINESS WIRE)--BTU International (Nasdaq: BTUI), a leading supplier of advanced thermal processing equipment to the alternative energy and electronics manufacturing markets, today announced that it received a $16 million order for solar cell processing equipment. Revenue recognition for this order is projected to start in the fourth quarter of 2010 and continue through the first half of 2011.
“We are very pleased with this breakthrough win for in-line silicon cell manufacturing,” said Paul van der Wansem, chairman and CEO of BTU International. “Our vision—shared by certain key customers —of using in-line thermal processing for the diffusion step in the production of silicon solar cells, has now been validated after several years of development. In particular, BTU’s knowhow in precision temperature uniformity and atmosphere control for high volume processing has been a major enabler to achieving the process and cost goals set by our customer. In-line diffusion can significantly reduce the cost per watt while delivering equivalent cell efficiency compared to traditional batch equipment.”
BTU offers solar processing equipment for both silicon and thin film photovoltaics. For silicon photovoltaic applications BTU’s systems are used for metallization and in-line diffusion processes. For thin film photovoltaics, BTU leverages its technologies and decades of experience to provide scalable, custom, in-line thermal process systems for rigid as well as flexible substrates.
“We are very pleased with this breakthrough win for in-line silicon cell manufacturing,” said Paul van der Wansem, chairman and CEO of BTU International. “Our vision—shared by certain key customers —of using in-line thermal processing for the diffusion step in the production of silicon solar cells, has now been validated after several years of development. In particular, BTU’s knowhow in precision temperature uniformity and atmosphere control for high volume processing has been a major enabler to achieving the process and cost goals set by our customer. In-line diffusion can significantly reduce the cost per watt while delivering equivalent cell efficiency compared to traditional batch equipment.”
BTU offers solar processing equipment for both silicon and thin film photovoltaics. For silicon photovoltaic applications BTU’s systems are used for metallization and in-line diffusion processes. For thin film photovoltaics, BTU leverages its technologies and decades of experience to provide scalable, custom, in-line thermal process systems for rigid as well as flexible substrates.
TrendSetter® Solar Products Announces U.S. Manufacturing Plan
EUREKA, Calif.--(BUSINESS WIRE)--TrendSetter® Solar Products, Inc. (Pink Sheets: TSSP) today announced the Company’s intention to move its sourcing of thermal solar panel from China to the U.S.
Norman Ehrlich, Trendsetter’s Founder, Chairman and CEO, said, “We are planning to establish manufacturing of solar thermal collectors, together with the manufacture of its proprietary Piggyback residential solar water heaters, in a strategic alliance with a major production facility. We plan to establish the manufacturing in northern Nevada with an established, major production company.
“We believe homeowners and businesses such as hotels, apartments, restaurants and food processors will soon take advantage of the federal and state incentives. We can expect energy projects to be one of the leading indicators of an economic recovery.”
Mr. Ehrlich went on to say, “Our commercial tank orders have seen an increase, with near a $1 million of proposals on hand, as projects complete the design states and enter the construction phase.”
Norman Ehrlich, Trendsetter’s Founder, Chairman and CEO, said, “We are planning to establish manufacturing of solar thermal collectors, together with the manufacture of its proprietary Piggyback residential solar water heaters, in a strategic alliance with a major production facility. We plan to establish the manufacturing in northern Nevada with an established, major production company.
“We believe homeowners and businesses such as hotels, apartments, restaurants and food processors will soon take advantage of the federal and state incentives. We can expect energy projects to be one of the leading indicators of an economic recovery.”
Mr. Ehrlich went on to say, “Our commercial tank orders have seen an increase, with near a $1 million of proposals on hand, as projects complete the design states and enter the construction phase.”
Tuesday, June 29, 2010
Suntech Grows with Solar Industry in France
WUXI, China and GRENOBLE, France, June 29 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of crystalline silicon solar panels, today opened a representative office in Montbonnot (Isere), France, to better serve its local partners throughout the region's growing solar industry. Since Suntech established its presence in France in 2008, the French solar market has become one of Suntech's top three markets in Europe.
"We are going the distance to meet the needs of our local partners, including distributors and installers, by providing them with responsive and top-quality service," said Jean-Yves Lindheimer, recently appointed head of Suntech France, after welcoming key industry partners and public representatives to the new office. "The Grenoble area provides an ideal environment for our office in France, as this community shares Suntech's commitment to driving technology innovation and sustainable development."
The event was also attended by Frank Weber, Marketing Director for Suntech Europe, who stressed the strategic importance of this new development: "The French solar market is booming; and, in our view, sustainable, long-term growth will require steady commitment and support from major industry players," he said. "Above and beyond our high-value solar products, we will continue to provide our partners with reliable services and support - giving them the tools and confidence to drive market growth."
The new office features a solar product training center for distributors and installers to learn more about the advantages of Suntech's industry- leading product offerings. In addition, Suntech professionals will provide hands-on installation training, particularly for Suntech's popular Just Roof(TM) offering that elegantly replaces traditional roofing materials with long-lasting, high-performing solar panels. The office will be home to a technical customer support team with decades of local industry experience, and is expected to grow in tandem with local market demand.
"As Europe is Suntech's largest sales region globally, we must not forget that our local partners here are the chief ambassadors for Suntech products and the entire solar industry," said Frank Weber. "We are focused on providing all of our partners every asset they need as we grow together in France, Europe, and around the world."
"We are going the distance to meet the needs of our local partners, including distributors and installers, by providing them with responsive and top-quality service," said Jean-Yves Lindheimer, recently appointed head of Suntech France, after welcoming key industry partners and public representatives to the new office. "The Grenoble area provides an ideal environment for our office in France, as this community shares Suntech's commitment to driving technology innovation and sustainable development."
The event was also attended by Frank Weber, Marketing Director for Suntech Europe, who stressed the strategic importance of this new development: "The French solar market is booming; and, in our view, sustainable, long-term growth will require steady commitment and support from major industry players," he said. "Above and beyond our high-value solar products, we will continue to provide our partners with reliable services and support - giving them the tools and confidence to drive market growth."
The new office features a solar product training center for distributors and installers to learn more about the advantages of Suntech's industry- leading product offerings. In addition, Suntech professionals will provide hands-on installation training, particularly for Suntech's popular Just Roof(TM) offering that elegantly replaces traditional roofing materials with long-lasting, high-performing solar panels. The office will be home to a technical customer support team with decades of local industry experience, and is expected to grow in tandem with local market demand.
"As Europe is Suntech's largest sales region globally, we must not forget that our local partners here are the chief ambassadors for Suntech products and the entire solar industry," said Frank Weber. "We are focused on providing all of our partners every asset they need as we grow together in France, Europe, and around the world."
Monday, June 28, 2010
Goldman Sach's Sets Buy Rating on First Solar
By Eric Savitz
Goldman Sachs analyst Mark Wienkes this morning launched coverage of the solar sector with a Neutral rating on the group; among U.S.-based companies, his best Buy idea is First Solar (FSLR), while he cites MEMC Electronic Materials (WFR) as his best Sell idea.
“We initiate coverage of the U.S. solar industry with a Neutral coverage view,” he writes. “We see benefits from large-scale projects ultimately overwhelming near-term challenges and accelerating the transition from subsidized markets towards parity.”
Wienkes contends that utility projects in the U.S. and China will drive the industry toward pricing parity with other forms of power generation int he 2012-2015 period, “sooner than the Street expects.”
The analyst writes that the firm’s global solar research team sees demand reaching 13 GW in 2010 and 17 GW in 2017, about 20% ahead of consensus, driven by stable project returns despite lower subsidies. “We believe higher-than-expected demand and price declines will accelerate the profit share shift from high-cost European manufacturers to First Solar and low-cost producers in China.”
Here’s a rundown on his stock calls on the group:
Goldman Sachs analyst Mark Wienkes this morning launched coverage of the solar sector with a Neutral rating on the group; among U.S.-based companies, his best Buy idea is First Solar (FSLR), while he cites MEMC Electronic Materials (WFR) as his best Sell idea.
“We initiate coverage of the U.S. solar industry with a Neutral coverage view,” he writes. “We see benefits from large-scale projects ultimately overwhelming near-term challenges and accelerating the transition from subsidized markets towards parity.”
Wienkes contends that utility projects in the U.S. and China will drive the industry toward pricing parity with other forms of power generation int he 2012-2015 period, “sooner than the Street expects.”
The analyst writes that the firm’s global solar research team sees demand reaching 13 GW in 2010 and 17 GW in 2017, about 20% ahead of consensus, driven by stable project returns despite lower subsidies. “We believe higher-than-expected demand and price declines will accelerate the profit share shift from high-cost European manufacturers to First Solar and low-cost producers in China.”
Here’s a rundown on his stock calls on the group:
- First Solar: He sets a Buy rating and $150 price target, asserting that “increasing exposure to U.S. utility scale installations should solidify visibility into our above consensus 2011 EPS and dredge a wider competitive moat for First Solar.”
- SunPower (SPWRA): Neutral rating, $15 price target.
- MEMC: Sell rating, $9 price target. He says there is more risk than reward, given a “below consensus and sub-peer margin recovery, higher executive risk and lower expected returns given a more capital-intensive business mix and lower financial flexibility and a higher valuation than is commonly perceived.”
Virgina Tech Takes Home Award From Solar Decathalon Europe
Today the Villa Solar has closed its doors, after 10 days of competition, with the last award ceremony announcing the winner of the Solar Decathlon Europe. The house, LUMENHAUS, from the team from Virginia Polytechnic Institute & State University, has been pronounced the most efficient of the competition, and following it in second and third place, respectively, were the University of Applied Sciences Rosenheim and the Stuttgart University of Applied Sciences.
Founded in 1872 as a land-grant college named Virginia Agricultural and Mechanical College, Virginia Tech is now a comprehensive, innovative research university with the largest full-time student population in Virginia. Through a combination of its three missions of learning, discovery, and engagement, Virginia Tech continually strives to accomplish the charge of its motto: Ut Prosim (That I May Serve).
Inspired in the Farnsworth house by Miles Van Der Rohe, Lumenhaus house presents an open distribution that connects the inhabitants of the house and them with the external environment
The awards for the last two contests of the competition were given out. University of Applied Sciences Rosenheim with their solar house Ikaros, was the winner of the Electrical Energy Balance Contest. In this contest, the electricity self-sufficiency and the solar energy consumption efficiency of the houses have been evaluated. The University of Florida and the Ecole National Supérieure d’Architecture de Grenoble came in at second and third place.
University of Applied Sciences Rosenheim was also given the Award for Appliances and Functioning. Throughout this contest, the houses’ functioning was been evaluated along with the efficiency of all equipment and appliances, simulating the daily function of a contemporary home. Stuttgart University of Applied Sciences and Virginia Polytechnic Institute & State University took the second and third places in this competition.
The prize for Solar Systems has also been awarded. Fachochschule fur Technik und Wirtschaft Berlin, with the house, Living Equia, is the winner for this contest. The jury, formed by Willi Ernst, Marcos Calvo Fernández, and Christian Bongartz, has evaluated the functionability, efficiency, robustness, and economic value of the solar systems and the domestic hot water. Second and third place have been awarded to Stuttgart University of Applied Sciences and Arts et Métiers Paris Tech, respectively.
Also, two extra competition awards have been given out and even though they will not impact overall scoring, they symbolize some extra recognition for the teams in those areas that have not been considered in the competition.
From the beginning of the competition last June 18th, the public was able to vote online at www.sdeurope.org for their favorite project. As a result, the Internet Award went to the University of Florida.
Lastly, the Public’s Choice Award was given to the Instituto Avanzado de Arquitectura de Cataluña and the Universidad CEU Cardenal Herrera after the Villa’s visitors casted their votes, during the competition’s 10 open days, for the house that they believed was the best solar home. Both awards, despite their inability to influence classification scorings, symbolize an extra recognition for the teams in areas that were not included in the official competition.
The Solar Decathlon Europe, organized by the Ministry of Housing with the collaboration of the Universidad Politécnica de Madrid and the support of the US Department of Energy, says “adios” until 2012. 190,000 people visited the Villa Solar.
Seventeen university teams from seven countries and three continents participate in this competition constructing real, sustainable, self-sufficient and comfortable houses exclusively sustained by solar energy.
The main sponsor of Solar Decathlon Europe is Saint-Gobain, along with contributions from Schneider Electric, Rockwool, Kömmerling, and FCC.
Founded in 1872 as a land-grant college named Virginia Agricultural and Mechanical College, Virginia Tech is now a comprehensive, innovative research university with the largest full-time student population in Virginia. Through a combination of its three missions of learning, discovery, and engagement, Virginia Tech continually strives to accomplish the charge of its motto: Ut Prosim (That I May Serve).
Inspired in the Farnsworth house by Miles Van Der Rohe, Lumenhaus house presents an open distribution that connects the inhabitants of the house and them with the external environment
The awards for the last two contests of the competition were given out. University of Applied Sciences Rosenheim with their solar house Ikaros, was the winner of the Electrical Energy Balance Contest. In this contest, the electricity self-sufficiency and the solar energy consumption efficiency of the houses have been evaluated. The University of Florida and the Ecole National Supérieure d’Architecture de Grenoble came in at second and third place.
University of Applied Sciences Rosenheim was also given the Award for Appliances and Functioning. Throughout this contest, the houses’ functioning was been evaluated along with the efficiency of all equipment and appliances, simulating the daily function of a contemporary home. Stuttgart University of Applied Sciences and Virginia Polytechnic Institute & State University took the second and third places in this competition.
The prize for Solar Systems has also been awarded. Fachochschule fur Technik und Wirtschaft Berlin, with the house, Living Equia, is the winner for this contest. The jury, formed by Willi Ernst, Marcos Calvo Fernández, and Christian Bongartz, has evaluated the functionability, efficiency, robustness, and economic value of the solar systems and the domestic hot water. Second and third place have been awarded to Stuttgart University of Applied Sciences and Arts et Métiers Paris Tech, respectively.
Also, two extra competition awards have been given out and even though they will not impact overall scoring, they symbolize some extra recognition for the teams in those areas that have not been considered in the competition.
From the beginning of the competition last June 18th, the public was able to vote online at www.sdeurope.org for their favorite project. As a result, the Internet Award went to the University of Florida.
Lastly, the Public’s Choice Award was given to the Instituto Avanzado de Arquitectura de Cataluña and the Universidad CEU Cardenal Herrera after the Villa’s visitors casted their votes, during the competition’s 10 open days, for the house that they believed was the best solar home. Both awards, despite their inability to influence classification scorings, symbolize an extra recognition for the teams in areas that were not included in the official competition.
The Solar Decathlon Europe, organized by the Ministry of Housing with the collaboration of the Universidad Politécnica de Madrid and the support of the US Department of Energy, says “adios” until 2012. 190,000 people visited the Villa Solar.
Seventeen university teams from seven countries and three continents participate in this competition constructing real, sustainable, self-sufficient and comfortable houses exclusively sustained by solar energy.
The main sponsor of Solar Decathlon Europe is Saint-Gobain, along with contributions from Schneider Electric, Rockwool, Kömmerling, and FCC.
Solar Energy Initiatives Announces Letter of Intent for $16 Million School District Project in Pennsylvania
PONTE VEDRA BEACH, FL--(Marketwire - June 28, 2010) - Solar Energy Initiatives, Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, today announced it has signed a letter of intent with a School District in Pennsylvania to install and operate approximately 4 megawatts (MW) of photovoltaic (PV) systems on government buildings. The Company anticipates that the projects will break ground in the Fall of 2010 and be completed sometime in the Spring of 2011.
Solar Energy Initiatives will provide all solar equipment for the installation on the sites and sell the newly generated solar electricity to the buildings at a discounted rate. The Project is expected to provide energy savings to the District over a 20-year term and does not require any out of pocket costs to the District. The project will utilize approximately 17,000 solar panels totaling 4 megawatts of installed capacity and is projected to reduce hazardous carbon dioxide emissions by 6,000 tons, annually.
"I am extremely pleased with SNRY's capacity to secure these profitable commercial agreements," stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. "These contracts represent a fraction of the vast amount of pending commercial opportunities in our constantly growing operational pipeline. We are encouraged by the significant growth opportunity that they represent in Pennsylvania and throughout the U.S. where government leadership is focused on Green Energy. Solar Energy Initiatives will remain dedicated to following this proven business model in order to continue growing market presence, secure additional contracts, and increase earnings to the bottom-line."
The Company will partner with a local Solar Dealer for the construction and utilize local labor throughout the Project development effort. Solar Energy Initiatives will recognize energy sales over a 20-year period from the project ownership and the sale of Solar Alternative Energy Credits through a State program supported by the Pennsylvania Public Utilities Commission.
Solar Energy Initiatives will provide all solar equipment for the installation on the sites and sell the newly generated solar electricity to the buildings at a discounted rate. The Project is expected to provide energy savings to the District over a 20-year term and does not require any out of pocket costs to the District. The project will utilize approximately 17,000 solar panels totaling 4 megawatts of installed capacity and is projected to reduce hazardous carbon dioxide emissions by 6,000 tons, annually.
"I am extremely pleased with SNRY's capacity to secure these profitable commercial agreements," stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. "These contracts represent a fraction of the vast amount of pending commercial opportunities in our constantly growing operational pipeline. We are encouraged by the significant growth opportunity that they represent in Pennsylvania and throughout the U.S. where government leadership is focused on Green Energy. Solar Energy Initiatives will remain dedicated to following this proven business model in order to continue growing market presence, secure additional contracts, and increase earnings to the bottom-line."
The Company will partner with a local Solar Dealer for the construction and utilize local labor throughout the Project development effort. Solar Energy Initiatives will recognize energy sales over a 20-year period from the project ownership and the sale of Solar Alternative Energy Credits through a State program supported by the Pennsylvania Public Utilities Commission.
Yingli Green Energy Aiming to Leave a Sunny Legacy in Africa
OHANNESBURG, South Africa, June 28 /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 that it will provide its expertise in solar energy to power "20 Centres for 2010", the official campaign of the 2010 FIFA World Cup South Africa(TM). This campaign is part of the Football for Hope movement, which is using the power of the game for positive social change. It is led by FIFA, world's football governing body, and streetfootballworld, a social profit organisation that links relevant actors in the field of development through football, and their affiliates such as Yingli Green Energy.
Yingli Green Energy will actively support the campaign by providing solar power to training centres across Africa. Yingli Solar calls this "Football for Hope. Energy for Hope." The company will supply the centres with solar installations that will, for instance, power pitch lighting, computers or study rooms in those centres. Of the 20 centres, five are being built in South Africa and 15 in other African countries. The first six centres to be built are located in South Africa, Kenya, Rwanda, Mali, Namibia and Ghana.
Yingli Green Energy is hosting a "Football for Hope. Energy for Hope." press conference on 30 June in Johannesburg, South Africa in cooperation with FIFA. Federico Addiechi, Head of FIFA's Corporate Social Responsibility Division, and Yingli Green Energy's senior management will present and hold one-on-one interviews at the press conference. Furthermore, the company will also showcase the wide range of solar applications which it plans to contribute to those centres based upon each centre's specific needs.
"The FIFA World Cup(TM) offers an ideal opportunity for Yingli Solar to be involved with Football for Hope and to support the '20 Centres for 2010' project with highly desired solar power," Liansheng Miao, chairman and chief executive officer of Yingli Green Energy, commented. "Social responsibility is an important pillar of Yingli Green Energy's core values. We are engaged in a variety of community-focused projects around the world - aiming to make solar power a sustainable and cost-effective energy for the world."
Federico Addiechi, FIFA's Head of Corporate Social Responsibility, said: "We are extremely pleased that Yingli Solar is not only a sponsor of the 2010 FIFA World Cup(TM), but also a strong supporter of the Football for Hope movement and, in particular, of '20 Centres for 2010' by offering its expertise in renewable energy. We want to commend Yingli Solar on their commitment to helping us build a better future, which is a fundamental pillar of our organisation. This is truly the beginning of a sunny legacy in Africa."
All members of the press are cordially invited to join the press conference in Johannesburg, South Africa on 30 June. Please contact us for more details.
Yingli Green Energy will actively support the campaign by providing solar power to training centres across Africa. Yingli Solar calls this "Football for Hope. Energy for Hope." The company will supply the centres with solar installations that will, for instance, power pitch lighting, computers or study rooms in those centres. Of the 20 centres, five are being built in South Africa and 15 in other African countries. The first six centres to be built are located in South Africa, Kenya, Rwanda, Mali, Namibia and Ghana.
Yingli Green Energy is hosting a "Football for Hope. Energy for Hope." press conference on 30 June in Johannesburg, South Africa in cooperation with FIFA. Federico Addiechi, Head of FIFA's Corporate Social Responsibility Division, and Yingli Green Energy's senior management will present and hold one-on-one interviews at the press conference. Furthermore, the company will also showcase the wide range of solar applications which it plans to contribute to those centres based upon each centre's specific needs.
"The FIFA World Cup(TM) offers an ideal opportunity for Yingli Solar to be involved with Football for Hope and to support the '20 Centres for 2010' project with highly desired solar power," Liansheng Miao, chairman and chief executive officer of Yingli Green Energy, commented. "Social responsibility is an important pillar of Yingli Green Energy's core values. We are engaged in a variety of community-focused projects around the world - aiming to make solar power a sustainable and cost-effective energy for the world."
Federico Addiechi, FIFA's Head of Corporate Social Responsibility, said: "We are extremely pleased that Yingli Solar is not only a sponsor of the 2010 FIFA World Cup(TM), but also a strong supporter of the Football for Hope movement and, in particular, of '20 Centres for 2010' by offering its expertise in renewable energy. We want to commend Yingli Solar on their commitment to helping us build a better future, which is a fundamental pillar of our organisation. This is truly the beginning of a sunny legacy in Africa."
All members of the press are cordially invited to join the press conference in Johannesburg, South Africa on 30 June. Please contact us for more details.
C&D Technologies Awarded $5 Million Contract for Development of Advanced Lead-Carbon Energy Storage System for Renewable Energy Applications
BLUE BELL, Pa., June 28 /PRNewswire-FirstCall/ -- C&D Technologies, Inc. (NYSE: CHP), a leading producer and marketer of batteries, battery systems and integrated standby power systems, today announced that the company has been awarded a contract by the US Army for the development of an advanced energy storage system for renewable energy applications incorporating advanced lead carbon batteries. The new contract will span an estimated three year period from June 15, 2010, with the objective of developing an energy storage system for use in grid connected systems, off-grid applications, and micro-grid environments in conjunction with the Army Renewable Energy Generation Systems (REGS). The technologies developed under the program will also be utilized in meeting the needs of C&D's commercial customers with potential application to large-scale grid-energy storage, community energy storage, and renewable energy applications, in addition to broader application in other branches of the military. The result will be a domestic U.S. source for a modular, highly reliable energy storage system with the potential for achieving economies of scale to ensure affordability for a range of military and commercial renewable energy applications. This new advanced energy storage system will be developed and produced in C&D's Blue Bell and Leola, Pennsylvania facilities.
With power demands growing in the many global deployments, the U.S. Army is working to increase the use of renewable energy to reduce dependence on fossil fuel resources and to achieve 'net zero energy' (NZE) for their base grid and micro-grid systems. Achieving NZE requires modular electrical energy storage systems to both store and dispense energy to maximize the renewable energy generation now being deployed. The market for NZE systems is expected to grow as more military systems utilize renewable energy to provide grid power, backup power and supplemental power to the many deployed electronic systems supporting U.S. soldiers and their equipment in the field. These systems provide basic living needs and also support equipment supplying vital information and support for the military infrastructure deployed in foreign lands.
A central focus of the program is the development of a new generation of energy storage batteries that incorporate carbon nano-phase technologies. These batteries will have exceptional cycling properties that are required for effective wind and solar application, and yet will be highly cost effective, reliable and fully recyclable at the end of product life.
"This contract will allow C&D Technologies to develop a modular energy storage system using advanced lead-carbon batteries to support the Department of Defense initiatives to incorporate renewable energy generation sources into their grid and micro-grid systems," said Dr. Jeffrey Graves, President and CEO of C&D Technologies. Dr. Graves continued, "This contract effectively leverages our most advanced R&D investments in carbon nano-technology and advanced battery manufacturing processes, to create sustainable, high value 'green collar' manufacturing and R&D jobs at our Pennsylvania facilities."
The funding profile for the contract includes an initial installment of approximately $1.2 million for use immediately, with the balance of the contract funding anticipated over the remaining two years of the program. The U.S. Army Research, Development and Engineering Command Contracting Center, Adelphi, Md., is the contracting agency (number W911QX-09-C-0076).
With power demands growing in the many global deployments, the U.S. Army is working to increase the use of renewable energy to reduce dependence on fossil fuel resources and to achieve 'net zero energy' (NZE) for their base grid and micro-grid systems. Achieving NZE requires modular electrical energy storage systems to both store and dispense energy to maximize the renewable energy generation now being deployed. The market for NZE systems is expected to grow as more military systems utilize renewable energy to provide grid power, backup power and supplemental power to the many deployed electronic systems supporting U.S. soldiers and their equipment in the field. These systems provide basic living needs and also support equipment supplying vital information and support for the military infrastructure deployed in foreign lands.
A central focus of the program is the development of a new generation of energy storage batteries that incorporate carbon nano-phase technologies. These batteries will have exceptional cycling properties that are required for effective wind and solar application, and yet will be highly cost effective, reliable and fully recyclable at the end of product life.
"This contract will allow C&D Technologies to develop a modular energy storage system using advanced lead-carbon batteries to support the Department of Defense initiatives to incorporate renewable energy generation sources into their grid and micro-grid systems," said Dr. Jeffrey Graves, President and CEO of C&D Technologies. Dr. Graves continued, "This contract effectively leverages our most advanced R&D investments in carbon nano-technology and advanced battery manufacturing processes, to create sustainable, high value 'green collar' manufacturing and R&D jobs at our Pennsylvania facilities."
The funding profile for the contract includes an initial installment of approximately $1.2 million for use immediately, with the balance of the contract funding anticipated over the remaining two years of the program. The U.S. Army Research, Development and Engineering Command Contracting Center, Adelphi, Md., is the contracting agency (number W911QX-09-C-0076).
RoseStreet Lab Scientists Announce Breakthrough Multiband Solar Cell Technology
PHOENIX, June 28 /PRNewswire/ -- RoseStreet Labs Energy, Inc. (RSLE) announced today a breakthrough laboratory demonstration of the first known multiband photovoltaic device featuring three distinct light absorption regions integrated into a single layer thin film device. This breakthrough is based on RSLE's IBand™ technology and is the first known intermediate band solar cell reduced to practice in a laboratory demonstration. This technology illustrates great promise for high efficiency thin film solar efficiencies above 35% by potentially capturing the full spectrum of the sun's spectrum.
Efficient solar cells require optimized utilization of the whole solar spectrum. Currently this is achieved in a complex and expensive technology in which several solar cells with different band gaps are connected in series. A much simpler approach in which a single semiconductor has several different gaps sensitive to different parts of the solar spectrum has been proposed but never realized.
The intermediate band solar cell developed by RSLE, is a thin film technology based on the discovery of highly mismatched alloys. The simple and elegant three bandgaps, one junction device has the potential of significantly improved solar light absorption and higher power output than the III-V triple junction compound semiconductor devices that presently hold the world record for solar efficiency. RSLE's demonstration device was fabricated on high volume CVD technology thereby validating the potential for high volume commercialization.
Bob Forcier, CEO, of RSLE, stated, "Although we are three to four years away from high volume production with the IBand product, this development opens up a new class of semiconductor devices for photovoltaic conversion and other advanced semiconductor applications. It fits seamlessly with our Hybrid PV commercialization."
Wladek Walukiewicz, CTO, of RSLE, announced, "This demonstration is a major breakthrough in our photovoltaic semiconductor roadmap which will allow us to go to the next step in our PV research at an accelerated pace. The IBand™ technology is synergistic with our thin film Nitride Hybrid product development and will allow upside potential for higher solar conversion efficiencies compared to conventional technologies."
RoseStreet Labs Energy, Inc. (RSLE) is a privately held firm headquartered in Phoenix, Arizona. RSLE is commercializing full spectrum photovoltaic devices for high performance applications. RoseStreet Labs LLC, the parent company of RSLE, is a privately held supplier of products and services for the renewable energy, semiconductor and life science markets.
Efficient solar cells require optimized utilization of the whole solar spectrum. Currently this is achieved in a complex and expensive technology in which several solar cells with different band gaps are connected in series. A much simpler approach in which a single semiconductor has several different gaps sensitive to different parts of the solar spectrum has been proposed but never realized.
The intermediate band solar cell developed by RSLE, is a thin film technology based on the discovery of highly mismatched alloys. The simple and elegant three bandgaps, one junction device has the potential of significantly improved solar light absorption and higher power output than the III-V triple junction compound semiconductor devices that presently hold the world record for solar efficiency. RSLE's demonstration device was fabricated on high volume CVD technology thereby validating the potential for high volume commercialization.
Bob Forcier, CEO, of RSLE, stated, "Although we are three to four years away from high volume production with the IBand product, this development opens up a new class of semiconductor devices for photovoltaic conversion and other advanced semiconductor applications. It fits seamlessly with our Hybrid PV commercialization."
Wladek Walukiewicz, CTO, of RSLE, announced, "This demonstration is a major breakthrough in our photovoltaic semiconductor roadmap which will allow us to go to the next step in our PV research at an accelerated pace. The IBand™ technology is synergistic with our thin film Nitride Hybrid product development and will allow upside potential for higher solar conversion efficiencies compared to conventional technologies."
RoseStreet Labs Energy, Inc. (RSLE) is a privately held firm headquartered in Phoenix, Arizona. RSLE is commercializing full spectrum photovoltaic devices for high performance applications. RoseStreet Labs LLC, the parent company of RSLE, is a privately held supplier of products and services for the renewable energy, semiconductor and life science markets.
SolarWorld Exceeds 1 MW in Oregon’s Group-Buy Innovation
HILLSBORO, Ore.--(BUSINESS WIRE)--SolarWorld is on track to supply about 1 MW of high-performance solar panels this year through a nation-leading, volunteer-driven, low-cost program that enables Oregon residents to more easily and affordably put solar power systems on their rooftops.
Under the Solarize program, Portland’s Bureau of Planning and Sustainability and Energy Trust of Oregon, a nonprofit promoting energy efficiency and renewable energy, support groups of residents as they join together to secure volume pricing for buying and installing solar power systems.
Two installation partners – Mr. Sun Solar for the Solarize resident group in Southwest Portland and Imagine Energy for Southeast Portland – each expect to install more than 400 kilowatts of high-quality SolarWorld Sunmodules on homes. In a separate Solarize program orchestrated by the Eastern Oregon city of Pendleton, Livelight Energy expects to install more than 175 kilowatts of Sunmodules. In all, SolarWorld’s monocrystalline photovoltaic product will provide power to about 425 homes.
In Hillsboro, located west of Portland, SolarWorld operates the largest solar technology factory in the Americas. There, the company is culminating an expansion to reach annual production capacity of 500 MW and 1,000 employees by year’s end.
“Solarize Portland reflects the best spirit of Portland’s DIY, grassroots commitment to sustainability,” said Mayor Sam Adams. “That this program would be able to count SolarWorld – a big part of the Portland region's burgeoning solar technology industry – as a participant and supplier only strengthens Portland's, and my, commitment to fusing environmental sustainability with economic prosperity.”
Kevin Kilkelly, SolarWorld’s president of U.S. sales, said SolarWorld’s top-rated performance and domestic production maximize the sustainable impact of the grass-roots program. “The spread of high-performance, domestically manufactured solar into the very U.S. neighborhoods where residents will use the power fulfills the highest promise of power from the sun,” Kilkelly said.
Under the Solarize program, Portland’s Bureau of Planning and Sustainability and Energy Trust of Oregon, a nonprofit promoting energy efficiency and renewable energy, support groups of residents as they join together to secure volume pricing for buying and installing solar power systems.
Two installation partners – Mr. Sun Solar for the Solarize resident group in Southwest Portland and Imagine Energy for Southeast Portland – each expect to install more than 400 kilowatts of high-quality SolarWorld Sunmodules on homes. In a separate Solarize program orchestrated by the Eastern Oregon city of Pendleton, Livelight Energy expects to install more than 175 kilowatts of Sunmodules. In all, SolarWorld’s monocrystalline photovoltaic product will provide power to about 425 homes.
In Hillsboro, located west of Portland, SolarWorld operates the largest solar technology factory in the Americas. There, the company is culminating an expansion to reach annual production capacity of 500 MW and 1,000 employees by year’s end.
“Solarize Portland reflects the best spirit of Portland’s DIY, grassroots commitment to sustainability,” said Mayor Sam Adams. “That this program would be able to count SolarWorld – a big part of the Portland region's burgeoning solar technology industry – as a participant and supplier only strengthens Portland's, and my, commitment to fusing environmental sustainability with economic prosperity.”
Kevin Kilkelly, SolarWorld’s president of U.S. sales, said SolarWorld’s top-rated performance and domestic production maximize the sustainable impact of the grass-roots program. “The spread of high-performance, domestically manufactured solar into the very U.S. neighborhoods where residents will use the power fulfills the highest promise of power from the sun,” Kilkelly said.
Veeco Awarded $800K in Matching Funds from Minnesota for Solar Technology
ST. PAUL, Minn.--(BUSINESS WIRE)--Veeco Instruments Inc. (Nasdaq: VECO) announced today that its St. Paul operations was awarded $800,000 in matching funds by the Minnesota Department of Commerce’s Office of Energy Security provided by the American Recovery and Reinvestment Act to support emerging renewable energy technology.
The matching funds were awarded for a 1.5 year project that will expedite Veeco’s CIGS (copper, indium, gallium, selenium) deposition equipment technology to market. This technology helps solar panel manufacturers to reduce their production costs and increase the feasibility of solar panels as an alternative energy.
According to David Bruns, Senior Vice President of Veeco’s Solar Operations, “Veeco will facilitate the development of this critical technology, creating green energy jobs. We would like to acknowledge the integral support of MN District 53B House Representative Carol McFarlane, in addition to MN District 53 Senator Sandy Rummel, MN 4th District Congresswoman Betty McCollum, and other various high-ranking elected government officials. Through visits to Veeco and encouragement of our efforts, they clearly demonstrated their strong support of green energy technology and its advancement in the state of Minnesota.”
In total, the state of Minnesota awarded just over $4 million dollars in funding for the Emerging Renewable Energy Industries Grant Program. Veeco’s proposal was one of approximately nine selected by the Minnesota Department of Commerce Office of Energy Security (OES) OES-101920009. The purpose of this grant program is to provide funding for a portion of the cost of multiple activities to promote improved economic performance of both the direct recipient and its Minnesota suppliers and customers.
The matching funds were awarded for a 1.5 year project that will expedite Veeco’s CIGS (copper, indium, gallium, selenium) deposition equipment technology to market. This technology helps solar panel manufacturers to reduce their production costs and increase the feasibility of solar panels as an alternative energy.
According to David Bruns, Senior Vice President of Veeco’s Solar Operations, “Veeco will facilitate the development of this critical technology, creating green energy jobs. We would like to acknowledge the integral support of MN District 53B House Representative Carol McFarlane, in addition to MN District 53 Senator Sandy Rummel, MN 4th District Congresswoman Betty McCollum, and other various high-ranking elected government officials. Through visits to Veeco and encouragement of our efforts, they clearly demonstrated their strong support of green energy technology and its advancement in the state of Minnesota.”
In total, the state of Minnesota awarded just over $4 million dollars in funding for the Emerging Renewable Energy Industries Grant Program. Veeco’s proposal was one of approximately nine selected by the Minnesota Department of Commerce Office of Energy Security (OES) OES-101920009. The purpose of this grant program is to provide funding for a portion of the cost of multiple activities to promote improved economic performance of both the direct recipient and its Minnesota suppliers and customers.
Wednesday, June 23, 2010
Praxair China Signs Agreement with Evergreen Solar
SHANGHAI--(BUSINESS WIRE)--Praxair China has signed a multi-year agreement with Evergreen Solar Energy China Co., Ltd. (NasdaqGM: ESLR) to supply bulk industrial gases for its solar wafer manufacturing facility in Wuhan, China. Evergreen Solar develops, manufactures and markets solar-power products based on its proprietary, low-cost STRING RIBBON™ wafer methodology which uses significantly less polysilicon than conventional ingot processes.
“Praxair has been a critical supplier of Evergreen Solar in the U.S. for several years, and has proven to be a highly reliable supplier of bulk gas to our manufacturing operations. We look forward to their strong presence in China to assist us with our growth plans,” said Henry Ng, Evergreen Solar Energy’s manager of Asia operations.
“Evergreen Solar is a valued customer of Praxair in the U.S., and we look forward to enabling their expansion into China,” said David Chow, president of Praxair China. “Praxair is well positioned to serve the rapidly growing photovoltaic market within China, with its comprehensive offering of gas and sputtering target products and its reliable global supply network.”
Praxair’s products, delivery systems and technologies are provided worldwide throughout the photovoltaic supply chain, enabling the production of crystalline and thin-film photovoltaic devices. Praxair is the largest industrial gas supplier to the polysilicon market, and is currently serving more than 50 photovoltaic manufacturing facilities worldwide with a combined capacity of over 6 gigawatts.
Praxair gas offerings used in photovoltaic manufacturing include bulk, onsite and specialty gases such as silane, ammonia, high purity argon, nitrogen, hydrogen, phosphorous and boron dopants, and associated gas delivery systems.
Praxair also offers a full suite of planar and tubular sputtering targets for the deposition of metal and transparent conducting oxide thin-film layers which are critical to the performance of photovoltaic devices. Praxair is a leader in the development of aluminum-zinc-oxide, copper, nickel vanadium and aluminum next-generation tubular targets, which enable more cost-effective fabrication of thin-film photovoltaic cells.
“Praxair has been a critical supplier of Evergreen Solar in the U.S. for several years, and has proven to be a highly reliable supplier of bulk gas to our manufacturing operations. We look forward to their strong presence in China to assist us with our growth plans,” said Henry Ng, Evergreen Solar Energy’s manager of Asia operations.
“Evergreen Solar is a valued customer of Praxair in the U.S., and we look forward to enabling their expansion into China,” said David Chow, president of Praxair China. “Praxair is well positioned to serve the rapidly growing photovoltaic market within China, with its comprehensive offering of gas and sputtering target products and its reliable global supply network.”
Praxair’s products, delivery systems and technologies are provided worldwide throughout the photovoltaic supply chain, enabling the production of crystalline and thin-film photovoltaic devices. Praxair is the largest industrial gas supplier to the polysilicon market, and is currently serving more than 50 photovoltaic manufacturing facilities worldwide with a combined capacity of over 6 gigawatts.
Praxair gas offerings used in photovoltaic manufacturing include bulk, onsite and specialty gases such as silane, ammonia, high purity argon, nitrogen, hydrogen, phosphorous and boron dopants, and associated gas delivery systems.
Praxair also offers a full suite of planar and tubular sputtering targets for the deposition of metal and transparent conducting oxide thin-film layers which are critical to the performance of photovoltaic devices. Praxair is a leader in the development of aluminum-zinc-oxide, copper, nickel vanadium and aluminum next-generation tubular targets, which enable more cost-effective fabrication of thin-film photovoltaic cells.
DARPA Awards Ascent Solar Team Multi-Million Dollar Contract for High-Efficiency Low-Cost Portable Photovoltaics (PoP) Program
THORNTON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state of the art flexible thin-film solar modules, announced today that the Defense Advanced Research Projects Agency (DARPA) has selected their team for an award under the Low-Cost Lightweight Portable Photovoltaics (PoP) solicitation. The ASTI-led program, entitled “Flexible High-performance Tandem-junction PV Array”, consists of three gated phases, the first of which is 18 months and has an approximate contract value of $3.8M. The entire program is anticipated to continue over the next 54 months. The goal of PoP is to demonstrate low-cost, lightweight photovoltaics (PV) that can stand up to battle conditions and environmental extremes while delivering a power conversion efficiency of 20% or greater by the end of the program.
ASTI leads a highly-talented team of small businesses (ITN Energy Systems, Littleton, CO, Cambrios Technologies Company, Sunnyvale, CA, Brewer Science, Rolla, MO), large business (QinetiQ North America-TSG, Boston, MA) and academia (Institute of Energy Conversion (IEC), Newark, DE) partners to leverage their collective expertise with dedicated funding from DARPA to meet the highly aggressive goals of the PoP program.
“We are excited that DARPA selected our team for the PoP project,” stated Farhad Moghadam, President and CEO of Ascent Solar. ”In order to meet the aggressive goals of performance, capacity, and military toughness, our team has put together a definitive plan that combines our flexible CIGS production experience and existing MILSTD 810G military product, advanced high-temperature substrates from QinetiQ, the combined expertise in multijunction thin film technology from ASTI and IEC, films for optical and electrical enhancement from Brewer and Cambrios, and enhanced packaging technologies being developed by ITN and ASTI. The outcome of the program dovetails nicely with our existing technology improvement pathway for our flexible thin film monolithically integrated CIGS-based PV modules at 20% module efficiency for the Department of Defense (DoD).”
ASTI leads a highly-talented team of small businesses (ITN Energy Systems, Littleton, CO, Cambrios Technologies Company, Sunnyvale, CA, Brewer Science, Rolla, MO), large business (QinetiQ North America-TSG, Boston, MA) and academia (Institute of Energy Conversion (IEC), Newark, DE) partners to leverage their collective expertise with dedicated funding from DARPA to meet the highly aggressive goals of the PoP program.
“We are excited that DARPA selected our team for the PoP project,” stated Farhad Moghadam, President and CEO of Ascent Solar. ”In order to meet the aggressive goals of performance, capacity, and military toughness, our team has put together a definitive plan that combines our flexible CIGS production experience and existing MILSTD 810G military product, advanced high-temperature substrates from QinetiQ, the combined expertise in multijunction thin film technology from ASTI and IEC, films for optical and electrical enhancement from Brewer and Cambrios, and enhanced packaging technologies being developed by ITN and ASTI. The outcome of the program dovetails nicely with our existing technology improvement pathway for our flexible thin film monolithically integrated CIGS-based PV modules at 20% module efficiency for the Department of Defense (DoD).”
Morris County, Tioga Energy and SunDurance Energy Kickoff First Solar Installation in Innovative Renewable Energy Program Pilot
MORRISTOWN, N.J.--(BUSINESS WIRE)--Today, the Morris County Improvement Authority (MCIA) of New Jersey along with solar energy provider Tioga Energy and installation contractor SunDurance Energy, will celebrate the start of construction on a 1.57 megawatt (MW) solar project at the William G. Mennen Sports Arena. The kickoff event heralds the initiation of the County’s 3.2 MW renewable energy program pilot, which encompasses 19 local facilities and is being financed through a landmark public-private solar development model, referred to as the “Morris Model.” Construction is starting just six months after the County announced their plans in January 2010.
“The sun is shining on Morris County, New Jersey, and we have an ingenious model of solar financing to thank for capturing that energy,” said Morris County Freeholder William Chegwidden, liaison to the Improvement Authority. “This ambitious project demonstrates a true feat of collaboration and innovation between the public and private sector. Tioga and SunDurance brought to the table unparalleled expertise in piecing together the finance and operations of solar development. County officials and stakeholders secured responsible financing and demonstrated unwavering commitment.”
“New Jersey can be a leader in energy as an industry if we continue to harness our innovation, resources and workforce,” said New Jersey Governor Chris Christie. "Powered by smart businesses and communities, as exemplified today in Morris County, and strategic financial incentives, this new marketplace is opening up jobs and revenue for the state at a rapid pace."
Today’s event will ceremonially unveil the first of the 14,000 solar panels to be installed at 19 schools and county government buildings throughout the County. When completed, the total project will result in an energy savings of more than $3.8 million. The Mennen Sports Arena solar system—which comprises installations on all three ice rink rooftops plus elevated solar structures covering more than 500 parking spaces—will produce 30 percent of the facility’s electricity.
“The entire Morris County community should take pride in today’s kick-off event,” said Paul Detering, CEO Tioga Energy. “The Morris Model has grabbed the attention of county officials from across the state and the nation; they’re taking note of how to replicate this blueprint of affordable solar electricity.”
David Helmer, Executive Director of Morris County Parks Commission comments, “This committed and savvy team has laid the groundwork for a new path to solar—one that generates significant cost and carbon savings and even utilizes the sun to make ice. We’ll see the impact in Morris County and beyond.”
“In addition to its positive environmental impact, the project is bringing employment to the area and, by reducing the price of energy at Morris County schools, helping to strengthen school finances and reduce the local tax base,” said Al Bucknam, CEO of SunDurance Energy, the company that is engineering and installing the systems. “As a New Jersey company, SunDurance is especially proud to be a part of this tremendous undertaking.”
The “Morris Model” refers to the hybrid solar financing deployed, whereby the MCIA issued state-approved government bonds to finance renewable energy projects, and the project developer, Tioga Energy, qualifies for the Federal tax incentives that would normally not be available to public entities. Tioga passes along the savings to the County with clean electricity at a lower rate: under the terms of the 15-year power purchase agreement (PPA) with Tioga, Morris County will purchase the electricity generated by the systems at a price that is approximately 35 percent less than that charged by the utility. During that 15-year period, the combined solar energy systems will generate 51,500 megawatt-hours (MWh) of clean energy, which creates carbon offsets equivalent to taking more than 200 passenger vehicles off the road each year.
“The sun is shining on Morris County, New Jersey, and we have an ingenious model of solar financing to thank for capturing that energy,” said Morris County Freeholder William Chegwidden, liaison to the Improvement Authority. “This ambitious project demonstrates a true feat of collaboration and innovation between the public and private sector. Tioga and SunDurance brought to the table unparalleled expertise in piecing together the finance and operations of solar development. County officials and stakeholders secured responsible financing and demonstrated unwavering commitment.”
“New Jersey can be a leader in energy as an industry if we continue to harness our innovation, resources and workforce,” said New Jersey Governor Chris Christie. "Powered by smart businesses and communities, as exemplified today in Morris County, and strategic financial incentives, this new marketplace is opening up jobs and revenue for the state at a rapid pace."
Today’s event will ceremonially unveil the first of the 14,000 solar panels to be installed at 19 schools and county government buildings throughout the County. When completed, the total project will result in an energy savings of more than $3.8 million. The Mennen Sports Arena solar system—which comprises installations on all three ice rink rooftops plus elevated solar structures covering more than 500 parking spaces—will produce 30 percent of the facility’s electricity.
“The entire Morris County community should take pride in today’s kick-off event,” said Paul Detering, CEO Tioga Energy. “The Morris Model has grabbed the attention of county officials from across the state and the nation; they’re taking note of how to replicate this blueprint of affordable solar electricity.”
David Helmer, Executive Director of Morris County Parks Commission comments, “This committed and savvy team has laid the groundwork for a new path to solar—one that generates significant cost and carbon savings and even utilizes the sun to make ice. We’ll see the impact in Morris County and beyond.”
“In addition to its positive environmental impact, the project is bringing employment to the area and, by reducing the price of energy at Morris County schools, helping to strengthen school finances and reduce the local tax base,” said Al Bucknam, CEO of SunDurance Energy, the company that is engineering and installing the systems. “As a New Jersey company, SunDurance is especially proud to be a part of this tremendous undertaking.”
The “Morris Model” refers to the hybrid solar financing deployed, whereby the MCIA issued state-approved government bonds to finance renewable energy projects, and the project developer, Tioga Energy, qualifies for the Federal tax incentives that would normally not be available to public entities. Tioga passes along the savings to the County with clean electricity at a lower rate: under the terms of the 15-year power purchase agreement (PPA) with Tioga, Morris County will purchase the electricity generated by the systems at a price that is approximately 35 percent less than that charged by the utility. During that 15-year period, the combined solar energy systems will generate 51,500 megawatt-hours (MWh) of clean energy, which creates carbon offsets equivalent to taking more than 200 passenger vehicles off the road each year.
Sulfurcell Offers CIS Thin-film Solar Modules in US Market for First Time
LOS ANGELES--(BUSINESS WIRE)--Sulfurcell, one of the leading manufacturers of CIS/CIGSe-based thin-film solar modules in the world, today announced the initiation of US operations. Sulfurcell’s full line of highly aesthetic German-made CIS thin-film modules is now available in the United States for a variety of rooftop and building integrated applications. The Berlin based company, which is partly financed by Intel Capital, plans to develop a robust network of system integrators and installers throughout North America in the coming months.
“We’re confident Sulfurcell’s industry-leading thin-film modules will enjoy broad adoption in the American market,” said Nikolaus Meyer, CEO of Sulfurcell. “Sulfurcell’s thin-film modules combine black-tile aesthetics and high performance within a wide range of temperatures making them ideal for building integrated, residential and commercial rooftop applications.”
Sulfurcell’s North American operations will be run out of new offices in Los Angeles, CA. Inquiries regarding sales and distribution opportunities should be directed to Boris von Bormann at vonbormann@sulfurcell.de.
Sulfurcell’s copper-indium-sulfide (CIS) thin-film solar power modules have a smooth black appearance and a compact format. The combination of color, size and quality make them a very attractive building integrated photovoltaics choice for leading architects and discerning property owners. An excellent temperature co-efficient ensures high yields at hot locations, making them an ideal choice for desert utility-scale projects. The company’s product offering includes framed, frameless, and roof-integrated modules.
Sulfurcell thin-film modules were first made available to the European market in 2005. The modules are IEC-certified and exceed standards. For example, they maintain their performance not only when aged for the standard 1,000 hours at 85°C and 85% humidity but also after 2,000 hours. Sulfurcell’s CIS-based production process enables substantially thinner PV modules and requires only half the energy used for manufacturing conventional solar modules.
Since initiating commercial-scale production in 2005, the company has manufactured and sold over 100,000 modules, making it one of the three largest manufacturers of CIS/CIGSe-based thin-film modules in the world. In 2008, Sulfurcell was provided 85MM Euros (US$110) in growth financing by renowned international investors, including Intel Capital and the BEU fund supported by Vattenfall Europe and Gaz de France. This capital was utilized for constructing new production facilities and for research and development.
“We’re confident Sulfurcell’s industry-leading thin-film modules will enjoy broad adoption in the American market,” said Nikolaus Meyer, CEO of Sulfurcell. “Sulfurcell’s thin-film modules combine black-tile aesthetics and high performance within a wide range of temperatures making them ideal for building integrated, residential and commercial rooftop applications.”
Sulfurcell’s North American operations will be run out of new offices in Los Angeles, CA. Inquiries regarding sales and distribution opportunities should be directed to Boris von Bormann at vonbormann@sulfurcell.de.
Sulfurcell’s copper-indium-sulfide (CIS) thin-film solar power modules have a smooth black appearance and a compact format. The combination of color, size and quality make them a very attractive building integrated photovoltaics choice for leading architects and discerning property owners. An excellent temperature co-efficient ensures high yields at hot locations, making them an ideal choice for desert utility-scale projects. The company’s product offering includes framed, frameless, and roof-integrated modules.
Sulfurcell thin-film modules were first made available to the European market in 2005. The modules are IEC-certified and exceed standards. For example, they maintain their performance not only when aged for the standard 1,000 hours at 85°C and 85% humidity but also after 2,000 hours. Sulfurcell’s CIS-based production process enables substantially thinner PV modules and requires only half the energy used for manufacturing conventional solar modules.
Since initiating commercial-scale production in 2005, the company has manufactured and sold over 100,000 modules, making it one of the three largest manufacturers of CIS/CIGSe-based thin-film modules in the world. In 2008, Sulfurcell was provided 85MM Euros (US$110) in growth financing by renowned international investors, including Intel Capital and the BEU fund supported by Vattenfall Europe and Gaz de France. This capital was utilized for constructing new production facilities and for research and development.
Friday, June 18, 2010
Goldfarb Branham Law Firm Investigates Akeena Solar for Investors
DALLAS--(BUSINESS WIRE)--Goldfarb Branham is investigating certain officers and directors at Akeena Solar, Inc. (NASDAQ: AKNS) for shareholders of the company because of allegedly false and misleading statements made about Akeena’s financial condition. Shareholders who purchased Akeena stock on or before December 26, 2007, are encouraged to contact attorney Hamilton Lindley at 877-583-2855 or by email at hlindley@goldfarbbranham.com for more information.
According to a class action complaint filed against the company, Akeena Solar concealed for a year that a purported increase in a credit line from $7.5 million to $25 million was a mere cash collateralization agreement, whereby Akeena Solar agreed to maintain a cash deposit of the same amount. Akeena then reported it had significantly missed the sales backlog by more than 20%. When the truth emerged, Akeena’s stock price plummeted, erasing tens of millions of dollars in market capitalization.
Goldfarb Branham is investigating a derivative lawsuit against company executives for allowing this scheme to occur. Derivative lawsuits often lead to restored confidence in companies involved in financial scandal and a resulting increase in shareholder value. If you purchased Akeena Solar stock prior to December 26, 2007 and continue to hold those shares, contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com for more details. Goldfarb Branham lawyers have significant experience working on important derivative cases that have resulted in substantial recoveries benefiting shareholders.
According to a class action complaint filed against the company, Akeena Solar concealed for a year that a purported increase in a credit line from $7.5 million to $25 million was a mere cash collateralization agreement, whereby Akeena Solar agreed to maintain a cash deposit of the same amount. Akeena then reported it had significantly missed the sales backlog by more than 20%. When the truth emerged, Akeena’s stock price plummeted, erasing tens of millions of dollars in market capitalization.
Goldfarb Branham is investigating a derivative lawsuit against company executives for allowing this scheme to occur. Derivative lawsuits often lead to restored confidence in companies involved in financial scandal and a resulting increase in shareholder value. If you purchased Akeena Solar stock prior to December 26, 2007 and continue to hold those shares, contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com for more details. Goldfarb Branham lawyers have significant experience working on important derivative cases that have resulted in substantial recoveries benefiting shareholders.
SolarWorld’s Sun-Fueled Vehicle to Race in Tulsa-Chicago Run
Future engineers studying at Hochschule Bochum – the Bochum University of Applied Sciences in Germany – form the SolarWorld No. 1 team. Similar to a road rally, the event tests engineering know-how, teamwork and endurance.
In the 1,100-mile race, the Bochum team will compete in timed stages as it vies to complete the every-other-year contest with the lowest total elapsed time. Its vehicle will harness high-efficiency photovoltaic cells to demonstrate mobility without fossil fuels and carbon emissions.
“Our solar racer will model the clean power from the sun across an expanse of the U.S. landscape, where SolarWorld has pioneered solar technology since the mid-1970s,” said Kevin Kilkelly, president of SolarWorld California, the company’s sales and marketing unit.
Also competing is a team from Oregon State University in Corvallis. Its racer is powered by solar cells made in Hillsboro, Ore., where SolarWorld operates its U.S. headquarters and the nation’s largest solar factory.
GoSolarUSA: Massive Sales of the iPhone 4 Raises the Stakes for PREE Technology
NEW ORLEANS--(BUSINESS WIRE)--Management of GoSolarUSA (Pinksheets:GSLO) is encountering another flood of interest in the PREE™ technology in the wake of the unexpected enormity of iPhone 4 sales by Apple (NASDAQ: AAPL). Analysts expect Apple to announce shipping over 2 million iPhone 4 Smartphones over opening weekend. GSLO had already announced executing an option on the breakthrough technology named PREE™ that uses wireless internet signals and solar energy to constantly keep Smartphones charged all of the time without having to be plugged in. Management of GSLO has begun fast-tracking their deal with PREE™ as a result of the original spike in public interest regarding PREE™ product details, possible PREE™ distributorships and interest in investment.
“We are focusing all of our available resources on the PREE™ deal right now,” stated Thomas Massey, President of GSLO. “We understand the huge opportunity that PREE™ represents in the marketplace.”
The breakthrough PREE™ technology captures the power of wireless Internet signals and solar energy to keep Smartphone batteries charged all of the time. The technology is being designed for use with the iPhone 4 as well as Research in Motion’s BlackBerry (NASDAQ: RIMM) and Google’s Android (NASDAQ: GOOG). With well over 150 million Smartphones in use today, GSLO expects this new technology to be very popular with tens of millions of Smartphone users worldwide. GSLO is anticipating investment in the Company as well as the development, delivery and marketing of the PREE™ product.
Smartphone accessories generate billions of dollars of revenue to manufacturers. GSLO is excited to be a part of bringing a new American technology to the market that can be sold worldwide. The Smartphone accessory market is projected to reach $80 billion by 2012. The Company strongly feels that this product has major market potential.
For more information on the PREE product see: www.GoSolarUSA.com/technology.html
“We are focusing all of our available resources on the PREE™ deal right now,” stated Thomas Massey, President of GSLO. “We understand the huge opportunity that PREE™ represents in the marketplace.”
The breakthrough PREE™ technology captures the power of wireless Internet signals and solar energy to keep Smartphone batteries charged all of the time. The technology is being designed for use with the iPhone 4 as well as Research in Motion’s BlackBerry (NASDAQ: RIMM) and Google’s Android (NASDAQ: GOOG). With well over 150 million Smartphones in use today, GSLO expects this new technology to be very popular with tens of millions of Smartphone users worldwide. GSLO is anticipating investment in the Company as well as the development, delivery and marketing of the PREE™ product.
Smartphone accessories generate billions of dollars of revenue to manufacturers. GSLO is excited to be a part of bringing a new American technology to the market that can be sold worldwide. The Smartphone accessory market is projected to reach $80 billion by 2012. The Company strongly feels that this product has major market potential.
For more information on the PREE product see: www.GoSolarUSA.com/technology.html
Thursday, June 17, 2010
Apollo Solar Energy Technology Holdings Limited Awards a Sales Contract Worths approx. HK$ 20 Billion with Hanergy
HONG KONG, June 17 /PRNewswire-Asia/ -- Apollo Solar Energy Technology Holdings Limited ("Apollo Solar" or "the Group") (HKEx: 566) announces that on 20 May 2010, Fujian Apollo (an indirect wholly-owned subsidiary of the Group) and Hanergy (unofficial English translation as Hanergy Holding Group Limited) entered into the principal sales contract of providing Hanergy equipment and integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules, for a total contract sum of US$2.55 billion (equivalent to approximately HK$19.84 billion). An application has been made to the Stock Exchange for resumption of trading in the shares with effect from 9:30 am on 17 June 2010.
Apollo Solar is also pleased to announce that the Group has introduced Hanergy as a strategic investor and one of the major shareholders of the Group. On 20 May 2010, the Group and Hanergy entered into the principal subscription agreement pursuant to which Hanergy has agreed to subscribe, or procure the Hanergy nominee to subscribe, for 4,911,528,960 subscription shares at the subscription price of HK$0.239 per subscription share.
Mr. Peng Li Bin, Executive Director of the Group said, "Hanergy is one of the largest and leading non-state-owned clean energy generation enterprises in China. Having Hanergy to be our strategic investor and one of our major shareholders serves to demonstrate that the technology level and R&D capability of Apollo have been recognized by Hanergy. The mega order will generate large amounts of cash flow to Apollo, thus will highly enhance its R&D resources and increase the capital investment of Apollo's R&D team, strengthening our R&D capability. It can also significantly enlarge the market share of Apollo in the global equipment and integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules supplier market and further strengthen Apollo's leading position."
About the Sales Contract
The subject matter to be sold by Fujian Apollo to Hanergy under the sales contract is the equipment, which will be divided into three batches of production lines and to be produced and delivered by Fujian Apollo in three phases. Each batch of the production lines consists of, among other items, 140 units of PECVD equipment and 30 units of PVD equipment, which are the core equipment of the new turnkey equipment, tools and machinery of the solar PV modules production system. Fujian Apollo shall complete the delivery of all equipment for each batch of the production lines within six months after the payment of the first installment of the prepayment for such batch of the production lines.
The aggregate equipment consideration is US$2.55 billion (equivalent to approximately HK$19.84 billion) which was arrived at by reference to the historical selling price of similar equipment with similar capacity for the production of the thin film solar PV modules. The equipment consideration for each batch of production lines is US$850 million (equivalent to HK$6.613 billion).
About the Subscription Shares
Hanergy will subscribe for, in three tranches, an aggregate of 4,911,528,960 subscription shares, representing approximately (i) 106.49% of the existing issued share capital of the Company, and (ii) 51.57% of the issued share capital of the Company as enlarged by the issue of such subscription shares. The subscription of shares will take place on the third business day after the down payment 50% of contract sum is made by Hanergy for each of the three batch of production lines. The fist tranche of shares will be locked up for a period of six months. Hanergy will appoint three directors to the board of Apollo and two of them are executive directors.
The gross proceeds of the subscription are approximately HK$1.17 billion. The Directors intend to utilize the net proceeds of the subscription to (i) increase the production capacity of the Group so as to fulfill the sales order placed by Hanergy under the sales contract, (ii) invest in research and development activities and (iii) expand solar-related technology or business by way of acquisition.
About Apollo Solar Energy Technology Holdings Limited (HKEx: 566)
Apollo Solar Energy Technology Holdings Limited supplies equipment and provides integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules in the PRC. The Group manufactures specialized equipment for production of silicon based thin film PV modules, and sells the equipment to customers which produce thin film PV modules. The Group provides design, engineering and system integration service as well as optimally configured, high-performance equipment at highly competitive prices. The Group also provides original equipment manufacturing and co-licensing options as well as consultation services. Its equipment research and development team is also based in Beijing whereas its process research and development team is based in Quanzhou, PRC. Apollo Solar is the only proven thin film turnkey provider in China certified by both the TUV/IEC and the UL. Apollo has been added to Morgan Stanley Capital International (MSCI) Hong Kong Small Cap Index on 26 May 2010. The turnover of the solar energy business from 25 November 2009 to 31 December 2009 is HK$315,292,000, the gross profit is HK$ 234,941,000 and the profit before income tax is HK$231,436,000. The gross margin and profit before income tax margin reached 74.5% and 73.5% respectively. The audited profit amounted to approximately US$21 million which exceeds the 2009 profit guarantee by 42%.
Apollo Solar is also pleased to announce that the Group has introduced Hanergy as a strategic investor and one of the major shareholders of the Group. On 20 May 2010, the Group and Hanergy entered into the principal subscription agreement pursuant to which Hanergy has agreed to subscribe, or procure the Hanergy nominee to subscribe, for 4,911,528,960 subscription shares at the subscription price of HK$0.239 per subscription share.
Mr. Peng Li Bin, Executive Director of the Group said, "Hanergy is one of the largest and leading non-state-owned clean energy generation enterprises in China. Having Hanergy to be our strategic investor and one of our major shareholders serves to demonstrate that the technology level and R&D capability of Apollo have been recognized by Hanergy. The mega order will generate large amounts of cash flow to Apollo, thus will highly enhance its R&D resources and increase the capital investment of Apollo's R&D team, strengthening our R&D capability. It can also significantly enlarge the market share of Apollo in the global equipment and integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules supplier market and further strengthen Apollo's leading position."
About the Sales Contract
The subject matter to be sold by Fujian Apollo to Hanergy under the sales contract is the equipment, which will be divided into three batches of production lines and to be produced and delivered by Fujian Apollo in three phases. Each batch of the production lines consists of, among other items, 140 units of PECVD equipment and 30 units of PVD equipment, which are the core equipment of the new turnkey equipment, tools and machinery of the solar PV modules production system. Fujian Apollo shall complete the delivery of all equipment for each batch of the production lines within six months after the payment of the first installment of the prepayment for such batch of the production lines.
The aggregate equipment consideration is US$2.55 billion (equivalent to approximately HK$19.84 billion) which was arrived at by reference to the historical selling price of similar equipment with similar capacity for the production of the thin film solar PV modules. The equipment consideration for each batch of production lines is US$850 million (equivalent to HK$6.613 billion).
About the Subscription Shares
Hanergy will subscribe for, in three tranches, an aggregate of 4,911,528,960 subscription shares, representing approximately (i) 106.49% of the existing issued share capital of the Company, and (ii) 51.57% of the issued share capital of the Company as enlarged by the issue of such subscription shares. The subscription of shares will take place on the third business day after the down payment 50% of contract sum is made by Hanergy for each of the three batch of production lines. The fist tranche of shares will be locked up for a period of six months. Hanergy will appoint three directors to the board of Apollo and two of them are executive directors.
The gross proceeds of the subscription are approximately HK$1.17 billion. The Directors intend to utilize the net proceeds of the subscription to (i) increase the production capacity of the Group so as to fulfill the sales order placed by Hanergy under the sales contract, (ii) invest in research and development activities and (iii) expand solar-related technology or business by way of acquisition.
About Apollo Solar Energy Technology Holdings Limited (HKEx: 566)
Apollo Solar Energy Technology Holdings Limited supplies equipment and provides integrated turnkey solution for the manufacturing of silicon-based thin film solar PV modules in the PRC. The Group manufactures specialized equipment for production of silicon based thin film PV modules, and sells the equipment to customers which produce thin film PV modules. The Group provides design, engineering and system integration service as well as optimally configured, high-performance equipment at highly competitive prices. The Group also provides original equipment manufacturing and co-licensing options as well as consultation services. Its equipment research and development team is also based in Beijing whereas its process research and development team is based in Quanzhou, PRC. Apollo Solar is the only proven thin film turnkey provider in China certified by both the TUV/IEC and the UL. Apollo has been added to Morgan Stanley Capital International (MSCI) Hong Kong Small Cap Index on 26 May 2010. The turnover of the solar energy business from 25 November 2009 to 31 December 2009 is HK$315,292,000, the gross profit is HK$ 234,941,000 and the profit before income tax is HK$231,436,000. The gross margin and profit before income tax margin reached 74.5% and 73.5% respectively. The audited profit amounted to approximately US$21 million which exceeds the 2009 profit guarantee by 42%.
First Solar Jumps After Analyst Upgrade
DENVER (AP) -- Shares of First Solar Inc. rose Thursday after an analyst raised his ratings on the stock and company earnings, forecasting improved demand for solar products.
THE SPARK: Credit Suisse analyst Satya Kumar raised the rating on First Solar to "Outperform" from "Neutral" and the 12-month price target to $150 per share from $110 per share.
Kumar increased the calendar year 2010 earnings-per-share estimate to $7.53 from $6.79 and 2011 earnings-per-share estimate to $8.32 from $7.34.
The analyst also upgraded the estimate on calendar year 2010 revenue to $2.7 billion from $2.6 billion.
Analysts surveyed by Thomson Reuters have predicted 2010 fiscal earnings of $6.93 a share and 2011 fiscal earnings of $7.57 a share.
First Solar has forecast 2010 net sales of $2.6 to $2.7 billion, and earnings per share in a range between $6.80 and $7.30... read more
THE SPARK: Credit Suisse analyst Satya Kumar raised the rating on First Solar to "Outperform" from "Neutral" and the 12-month price target to $150 per share from $110 per share.
Kumar increased the calendar year 2010 earnings-per-share estimate to $7.53 from $6.79 and 2011 earnings-per-share estimate to $8.32 from $7.34.
The analyst also upgraded the estimate on calendar year 2010 revenue to $2.7 billion from $2.6 billion.
Analysts surveyed by Thomson Reuters have predicted 2010 fiscal earnings of $6.93 a share and 2011 fiscal earnings of $7.57 a share.
First Solar has forecast 2010 net sales of $2.6 to $2.7 billion, and earnings per share in a range between $6.80 and $7.30... read more
Solar Choice Calls for More Feed-In Tariff Publicity
MANCHESTER, England, June 17 /PRNewswire/ -- Solar panel installation experts at Solar Choice believe the Government is failing consumers by neglecting to publicise vital information about the Feed-In Tariff widely enough.
The UK's Feed-In Tariff came into effect in April 2010 and offers generous financial incentives to consumers opting to install solar PV panels in their homes. Yet despite this, there has been relatively little by way of information and publicity about the tariff made available to consumers.
Solar Choice Sales Director, Ajay Hargreaves, believes this must be rectified, commenting that:
"The Government has introduced this amazing scheme. They've made solar panels an investment, rather than an expense. But we're still continually finding that people simply either don't know exactly what it's all about or even don't know about it at all! The Feed-In Tariff here is particularly generous. It's been covered in newspapers and on TV all over the globe, yet we're failing to inform the very people it benefits, the UK consumers."
It is hoped that the Feed-In Tariff will encourage a higher uptake of solar panel installation here in the UK and that this in turn will contribute to the Government's carbon emission reduction targets. Ajay considers publicising the tariff as imperative to the success of meeting these targets.
"The British Government has pledged to cut our carbon emissions by 60% by 2050. Those are ambitious targets. The Feed-In Tariff is an incredible way to encourage solar installation and therefore reduce carbon emissions but if consumers aren't even aware of it, we'll never see its full potential."
The UK's Feed-In Tariff came into effect in April 2010 and offers generous financial incentives to consumers opting to install solar PV panels in their homes. Yet despite this, there has been relatively little by way of information and publicity about the tariff made available to consumers.
Solar Choice Sales Director, Ajay Hargreaves, believes this must be rectified, commenting that:
"The Government has introduced this amazing scheme. They've made solar panels an investment, rather than an expense. But we're still continually finding that people simply either don't know exactly what it's all about or even don't know about it at all! The Feed-In Tariff here is particularly generous. It's been covered in newspapers and on TV all over the globe, yet we're failing to inform the very people it benefits, the UK consumers."
It is hoped that the Feed-In Tariff will encourage a higher uptake of solar panel installation here in the UK and that this in turn will contribute to the Government's carbon emission reduction targets. Ajay considers publicising the tariff as imperative to the success of meeting these targets.
"The British Government has pledged to cut our carbon emissions by 60% by 2050. Those are ambitious targets. The Feed-In Tariff is an incredible way to encourage solar installation and therefore reduce carbon emissions but if consumers aren't even aware of it, we'll never see its full potential."
Sungevity Challenges CA Governor Candidates to Celebrate Summer Solstice by Getting Involved in California's Clean Energy Future
OAKLAND, Calif., June 17 /PRNewswire/ -- Sungevity, the leading online residential solar provider, today challenged California gubernatorial candidates Jerry Brown and Meg Whitman to keep the state's clean energy momentum alive by installing solar on their own homes.
"When it comes to clean energy, California is a leading example for other states. As their campaigns hit full swing, we're asking Jerry Brown and Meg Whitman to lead by example and support our growing clean economy where jobs and the environment work together," said Danny Kennedy, Founder of Sungevity. "As President Obama calls for a widespread broadening of clean energy adoption – now a front burner issue with the true costs of oil clear – we are asking our state's candidates to step up to the plate."
Clean energy is of increasing importance to the nation, as echoed in President Barack Obama's speech to the nation on Tuesday: "The time to embrace a clean energy future is now. Now is the moment for this generation to embark on a national mission to unleash American innovation and seize control of our own destiny. I say we can't afford not to change how we produce and use energy – because the long-term costs to our economy, our national security, and our environment are far greater." Sungevity has also provided an offer of a solar system for the First Family's Home at www.solaronthewhitehouse.com.
And now to help Brown and Whitman realize their personal potential for going solar as an important step to leading by example toward a cleaner energy future, Sungevity is creating estimates of solar savings for both candidates' homes, based on calculations of their roof's exposure to the sun and the electricity rates they are charged. The results will be announced next week on Monday, the Summer Solstice. If either candidate accepts, Sungevity will install the solar for no money down, and they can pay a monthly fee for the clean electricity they will use. This is now the main way solar is consumed in California – on a lease.
"Campaign promises come and go, but the ability to draw energy from the sun will never expire. Our team is ready to deliver solar for Jerry and Meg. In an era of heated debates, oil spills and rising energy bills it is good to know that you can access solar power for no money down at the click of a mouse," continued Kennedy. "By taking up our offer these politicians can create Californian jobs and take a leadership role in the creation of a stronger, clean economy. Now is the time for deeds not words."
"When it comes to clean energy, California is a leading example for other states. As their campaigns hit full swing, we're asking Jerry Brown and Meg Whitman to lead by example and support our growing clean economy where jobs and the environment work together," said Danny Kennedy, Founder of Sungevity. "As President Obama calls for a widespread broadening of clean energy adoption – now a front burner issue with the true costs of oil clear – we are asking our state's candidates to step up to the plate."
Clean energy is of increasing importance to the nation, as echoed in President Barack Obama's speech to the nation on Tuesday: "The time to embrace a clean energy future is now. Now is the moment for this generation to embark on a national mission to unleash American innovation and seize control of our own destiny. I say we can't afford not to change how we produce and use energy – because the long-term costs to our economy, our national security, and our environment are far greater." Sungevity has also provided an offer of a solar system for the First Family's Home at www.solaronthewhitehouse.com.
And now to help Brown and Whitman realize their personal potential for going solar as an important step to leading by example toward a cleaner energy future, Sungevity is creating estimates of solar savings for both candidates' homes, based on calculations of their roof's exposure to the sun and the electricity rates they are charged. The results will be announced next week on Monday, the Summer Solstice. If either candidate accepts, Sungevity will install the solar for no money down, and they can pay a monthly fee for the clean electricity they will use. This is now the main way solar is consumed in California – on a lease.
"Campaign promises come and go, but the ability to draw energy from the sun will never expire. Our team is ready to deliver solar for Jerry and Meg. In an era of heated debates, oil spills and rising energy bills it is good to know that you can access solar power for no money down at the click of a mouse," continued Kennedy. "By taking up our offer these politicians can create Californian jobs and take a leadership role in the creation of a stronger, clean economy. Now is the time for deeds not words."
Sunovia Energy Announces New Board Member
SARASOTA, Fla., June 17 /PRNewswire-FirstCall/ -- Sunovia Energy Technologies, Inc. (OTC Bulletin Board: SUNV) today announced the appointment of Erich Hofer to its board of directors. Hofer's multifaceted background should assist the company in raising capital, and exploring international sales opportunities and operations, including financial operations. Hofer has an accomplished 20-year career in the financial and banking industries.
Hofer currently serves as a director at Arkanova Energy Corporation, where he was involved in securing the company's largest project acquisition to date and utilized his resources from Europe to provide significant capital for the operation. Hofer was a financial analyst and business consultant at PetroHunter, where he supported corporate and business initiatives through strategizing methods for development and growth. Having completed his goal of restructuring the company's operations, he has resigned from PetroHunter and plans to devote more of his time to Sunovia.
Hofer has held a number of key leadership positions, including financial controller at Zurich Cantonal Bank, the largest state bank in Switzerland. Hofer was also the Chief of Staff at Schneeberger, a technology manufacturing company. In Switzerland, he was the CFO at Argo-Hytos, an international manufacturer of industrial and mobile hydraulic systems. The experience he gained through overseeing all internal and external transactions at Argo-Hytos will be invaluable to Sunovia.
Hofer is a Certified Management Accountant and received his bachelor's degree in economics and management from the University for Applied Science for Business and Administration in Zurich. He also holds an MBA from the University of Chicago. Hofer is a Colonel for the Swiss Armed Forces Division and a member of the General Staff. Speaking more than four languages and managing business in ten different countries, Hofer is a veritable global entrepreneur.
Carl Smith, CEO of Sunovia, said, "Whether it's his ability to understand each industry or his cultural and international intelligence, Erich skillfully blends his dynamic leadership style with truly innovative methods. We are confident that with his guidance, we will bring out the best in Sunovia."
"I am pleased to join the board of directors and am looking forward to working with the skilled and ambitious team at Sunovia," Hofer said. "I am confident in the products, business opportunities and the ecological achievement of Sunovia and I'm proud to be a part of such an impressive organization. I am eager to focus my knowledge and expertise toward the advancement of Sunovia into a leadership position in the energy technology industry."
Hofer currently serves as a director at Arkanova Energy Corporation, where he was involved in securing the company's largest project acquisition to date and utilized his resources from Europe to provide significant capital for the operation. Hofer was a financial analyst and business consultant at PetroHunter, where he supported corporate and business initiatives through strategizing methods for development and growth. Having completed his goal of restructuring the company's operations, he has resigned from PetroHunter and plans to devote more of his time to Sunovia.
Hofer has held a number of key leadership positions, including financial controller at Zurich Cantonal Bank, the largest state bank in Switzerland. Hofer was also the Chief of Staff at Schneeberger, a technology manufacturing company. In Switzerland, he was the CFO at Argo-Hytos, an international manufacturer of industrial and mobile hydraulic systems. The experience he gained through overseeing all internal and external transactions at Argo-Hytos will be invaluable to Sunovia.
Hofer is a Certified Management Accountant and received his bachelor's degree in economics and management from the University for Applied Science for Business and Administration in Zurich. He also holds an MBA from the University of Chicago. Hofer is a Colonel for the Swiss Armed Forces Division and a member of the General Staff. Speaking more than four languages and managing business in ten different countries, Hofer is a veritable global entrepreneur.
Carl Smith, CEO of Sunovia, said, "Whether it's his ability to understand each industry or his cultural and international intelligence, Erich skillfully blends his dynamic leadership style with truly innovative methods. We are confident that with his guidance, we will bring out the best in Sunovia."
"I am pleased to join the board of directors and am looking forward to working with the skilled and ambitious team at Sunovia," Hofer said. "I am confident in the products, business opportunities and the ecological achievement of Sunovia and I'm proud to be a part of such an impressive organization. I am eager to focus my knowledge and expertise toward the advancement of Sunovia into a leadership position in the energy technology industry."
Boots on the Roof to Launch Three New Master Certificates in Renewable Energy at Intersolar
SAN JOSE, Calif.--(BUSINESS WIRE)--Stion, a manufacturer of high-efficiency thin-film solar panels, announced today a production partnership with TSMC of Taiwan. Stion will commence a 100 MW expansion of its San Jose, Calif. facility following the close of its $70 million Series D financing. Stion had previously raised $44.6 million in equity financing.
“TSMC has evaluated a number of thin-film technologies and believes by working with Stion we will gain a robust thin film technology with inherent low cost structure,” said Mr. YC Chao, TSMC’s Senior Director of New Businesses.
Chet Farris, Stion’s President and CEO, added, “Beyond our 100 MW production facility, the strategic partnerships result in a very capital efficient production model as we will gain access to a certain amount of capacity without additional capital commitment from Stion.”
“In the crowded field of thin film solar with mostly undifferentiated technology, Stion has distinguished itself with the highest efficiency production ready technology on one square meter, 120 W to 130 W monolithic panels. Stion will show how a PV startup gets to positive cash flow with a $100m dollar equity investment,” said Vinod Khosla, Partner at Khosla Ventures.
Stion’s panels are specifically designed for use in all major applications, including commercial / government, residential, utility and off-grid. The panels are produced using monolithically integrated circuits and offer a number of advantages over competing products, including high efficiency, a convenient form factor (2 ft. x 5 ft), improved performance in partial shading, and superb aesthetics.
As part of the expansion, Stion expects to bring more than 500 direct and indirect jobs to the region in 2010 and 2011. FREMONT, Calif., June 17 /PRNewswire/ -- Illustrating its responsiveness to increasing consumer demand for renewable energy systems, at the Intersolar 2010 Conference, Boots on the Roof will unveil its latest education and training innovation: three new Master Certificates in Renewable Energy programs. Training for each Master Certificate will be delivered via a first-of-its-kind accelerated program model, uniquely designed to provide instruction, hands-on experience, and post-certification assistance in putting graduates' new skills to work.
When Boots on the Roof started offering courses on the three major renewable energy technologies (solar PV, solar thermal, and wind) it was assumed that students would enroll only in the technologies that matched their experience. Plumbers & HVAC workers seemed like a natural fit for solar thermal training, while grid-connected systems like Solar PV and Wind made sense for people with electrical skills. It rapidly became apparent, however, that many people wanted to gain skills in multiple technologies in order to broaden their areas of specialization. Doing so would allow them to offer practical expertise in several renewable energy system types, and to tailor their services to meet each individual customer's unique needs.
Boots on the Roof picked up on this desire immediately and, almost as quickly, three new Master Certificates were born:
According to Chuck Rames, Program Director at Boots on the Roof, "All the courses within the Master Certificate programs are successful stand-alone classes at Boots on the Roof, and will continue to be offered as such. Combining them into three seamless certification tracks was challenging from an operations and logistics standpoint, but we succeeded, and we are confident that each program track will prepare our Master Certificate graduates to make an immediate contribution to the renewable energy industry and its customers."
Boots on the Roof began in 2008 by combining veterans from both education and the energy industry to create renewable energy training programs that meet the needs of tomorrow's energy systems professionals. Now, only 2 years later, they offer courses and programs that are second to none.
Boots on the Roof is the one and only program in the US that delivers this kind of complete, comprehensive training in renewable energy technologies and applications. For more information about where and how you can earn a Master Certificate in one of the renewable energy programs, visit our site at http://www.BootsOnTheRoof.com.
Boots on the Roof will be exhibiting at Intersolar North America 2010 in San Francisco's Moscone Center West Hall from July 13-15, booth number 8940.
“TSMC has evaluated a number of thin-film technologies and believes by working with Stion we will gain a robust thin film technology with inherent low cost structure,” said Mr. YC Chao, TSMC’s Senior Director of New Businesses.
Chet Farris, Stion’s President and CEO, added, “Beyond our 100 MW production facility, the strategic partnerships result in a very capital efficient production model as we will gain access to a certain amount of capacity without additional capital commitment from Stion.”
“In the crowded field of thin film solar with mostly undifferentiated technology, Stion has distinguished itself with the highest efficiency production ready technology on one square meter, 120 W to 130 W monolithic panels. Stion will show how a PV startup gets to positive cash flow with a $100m dollar equity investment,” said Vinod Khosla, Partner at Khosla Ventures.
Stion’s panels are specifically designed for use in all major applications, including commercial / government, residential, utility and off-grid. The panels are produced using monolithically integrated circuits and offer a number of advantages over competing products, including high efficiency, a convenient form factor (2 ft. x 5 ft), improved performance in partial shading, and superb aesthetics.
As part of the expansion, Stion expects to bring more than 500 direct and indirect jobs to the region in 2010 and 2011. FREMONT, Calif., June 17 /PRNewswire/ -- Illustrating its responsiveness to increasing consumer demand for renewable energy systems, at the Intersolar 2010 Conference, Boots on the Roof will unveil its latest education and training innovation: three new Master Certificates in Renewable Energy programs. Training for each Master Certificate will be delivered via a first-of-its-kind accelerated program model, uniquely designed to provide instruction, hands-on experience, and post-certification assistance in putting graduates' new skills to work.
When Boots on the Roof started offering courses on the three major renewable energy technologies (solar PV, solar thermal, and wind) it was assumed that students would enroll only in the technologies that matched their experience. Plumbers & HVAC workers seemed like a natural fit for solar thermal training, while grid-connected systems like Solar PV and Wind made sense for people with electrical skills. It rapidly became apparent, however, that many people wanted to gain skills in multiple technologies in order to broaden their areas of specialization. Doing so would allow them to offer practical expertise in several renewable energy system types, and to tailor their services to meet each individual customer's unique needs.
Boots on the Roof picked up on this desire immediately and, almost as quickly, three new Master Certificates were born:
- Green Energy (covering the three major green energy systems: Solar Thermal, Solar Photovoltaic (PV), and Wind Energy),
- Solar + Energy Retrofit (covering Energy Audits to determine energy efficiency of existing structure [frequently required prior to solar installations], Solar Thermal, and Solar PV)
- Solar Expert (the most comprehensive Solar training available; a "deep dive" into Solar Thermal and Solar PV for residential and small commercial applications).
According to Chuck Rames, Program Director at Boots on the Roof, "All the courses within the Master Certificate programs are successful stand-alone classes at Boots on the Roof, and will continue to be offered as such. Combining them into three seamless certification tracks was challenging from an operations and logistics standpoint, but we succeeded, and we are confident that each program track will prepare our Master Certificate graduates to make an immediate contribution to the renewable energy industry and its customers."
Boots on the Roof began in 2008 by combining veterans from both education and the energy industry to create renewable energy training programs that meet the needs of tomorrow's energy systems professionals. Now, only 2 years later, they offer courses and programs that are second to none.
Boots on the Roof is the one and only program in the US that delivers this kind of complete, comprehensive training in renewable energy technologies and applications. For more information about where and how you can earn a Master Certificate in one of the renewable energy programs, visit our site at http://www.BootsOnTheRoof.com.
Boots on the Roof will be exhibiting at Intersolar North America 2010 in San Francisco's Moscone Center West Hall from July 13-15, booth number 8940.
Stion Kicks Off 100 MW Expansion and Partnership With TSMC
SAN JOSE, Calif.--(BUSINESS WIRE)--Stion, a manufacturer of high-efficiency thin-film solar panels, announced today a production partnership with TSMC of Taiwan. Stion will commence a 100 MW expansion of its San Jose, Calif. facility following the close of its $70 million Series D financing. Stion had previously raised $44.6 million in equity financing.
“TSMC has evaluated a number of thin-film technologies and believes by working with Stion we will gain a robust thin film technology with inherent low cost structure,” said Mr. YC Chao, TSMC’s Senior Director of New Businesses.
Chet Farris, Stion’s President and CEO, added, “Beyond our 100 MW production facility, the strategic partnerships result in a very capital efficient production model as we will gain access to a certain amount of capacity without additional capital commitment from Stion.”
“In the crowded field of thin film solar with mostly undifferentiated technology, Stion has distinguished itself with the highest efficiency production ready technology on one square meter, 120 W to 130 W monolithic panels. Stion will show how a PV startup gets to positive cash flow with a $100m dollar equity investment,” said Vinod Khosla, Partner at Khosla Ventures.
Stion’s panels are specifically designed for use in all major applications, including commercial / government, residential, utility and off-grid. The panels are produced using monolithically integrated circuits and offer a number of advantages over competing products, including high efficiency, a convenient form factor (2 ft. x 5 ft), improved performance in partial shading, and superb aesthetics.
As part of the expansion, Stion expects to bring more than 500 direct and indirect jobs to the region in 2010 and 2011.
“TSMC has evaluated a number of thin-film technologies and believes by working with Stion we will gain a robust thin film technology with inherent low cost structure,” said Mr. YC Chao, TSMC’s Senior Director of New Businesses.
Chet Farris, Stion’s President and CEO, added, “Beyond our 100 MW production facility, the strategic partnerships result in a very capital efficient production model as we will gain access to a certain amount of capacity without additional capital commitment from Stion.”
“In the crowded field of thin film solar with mostly undifferentiated technology, Stion has distinguished itself with the highest efficiency production ready technology on one square meter, 120 W to 130 W monolithic panels. Stion will show how a PV startup gets to positive cash flow with a $100m dollar equity investment,” said Vinod Khosla, Partner at Khosla Ventures.
Stion’s panels are specifically designed for use in all major applications, including commercial / government, residential, utility and off-grid. The panels are produced using monolithically integrated circuits and offer a number of advantages over competing products, including high efficiency, a convenient form factor (2 ft. x 5 ft), improved performance in partial shading, and superb aesthetics.
As part of the expansion, Stion expects to bring more than 500 direct and indirect jobs to the region in 2010 and 2011.
EVSO President is Speaker at 2010 Building Green Learning Institutes Conference
THE WOODLANDS, Texas--(BUSINESS WIRE)--Evolution Solar (Pink Sheets:EVSO). Company President Robert Hines was a guest speaker at the 2010 Building Green Learning Institutes Conference held in San Antonio from June 10th through the 12th. The Conference was hosted by the United Negro College Fund's Institute for Capacity Building, in partnership with the American Indian Higher Education Consortium, Hispanic Association of Colleges & Universities (HACU), Second Nature and the Thurgood Marshall College Fund.
During the Conference breakout session titled “Renewable Energy Technologies”, Mr. Hines focused on the topics of new solar technology, Evolution Solar Corporation and the Company’s upcoming projects at Texas Southern University and the City of Brookshire, Texas.
"It was an honor to be in the presence of institutions not only committed to academic excellence, but focused on global green transformation,” stated Mr. Hines. "I am looking forward to working with colleges and universities across the country to assist in the enhancement of their facilities and embrace energy efficiency."
Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University’s Houston Campus. Evolution Solar is also developing a solar demonstration project with the City of Brookshire, Texas. These projects should help Evolution Solar acquire new business in a sector that is growing to compete in the energy industry, which includes BP (NYSE: BP), Duke Energy (NYSE: DUK), Penn West Energy (NYSE: PWE) and Occidental Petroleum (NYSE: OXY).
During the Conference breakout session titled “Renewable Energy Technologies”, Mr. Hines focused on the topics of new solar technology, Evolution Solar Corporation and the Company’s upcoming projects at Texas Southern University and the City of Brookshire, Texas.
"It was an honor to be in the presence of institutions not only committed to academic excellence, but focused on global green transformation,” stated Mr. Hines. "I am looking forward to working with colleges and universities across the country to assist in the enhancement of their facilities and embrace energy efficiency."
Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University’s Houston Campus. Evolution Solar is also developing a solar demonstration project with the City of Brookshire, Texas. These projects should help Evolution Solar acquire new business in a sector that is growing to compete in the energy industry, which includes BP (NYSE: BP), Duke Energy (NYSE: DUK), Penn West Energy (NYSE: PWE) and Occidental Petroleum (NYSE: OXY).
Wednesday, June 16, 2010
Etrion Signs Term Sheet to Acquire More Than 30 MW of Solar Power Projects in Italy
Etrion Corporation ("Etrion" or the "Company") (TSX:ETX), a Canadian energy company, has signed a non-binding term sheet to acquire more than 30 megawatts ("MW") of solar power projects in Italy for cash consideration of approximately 45 million Euros plus the assumption of the related non-recourse loan facilities.
Marco Northland, the Company's CEO, commented, "We are very excited about this potential acquisition to strengthen our solar PV portfolio in Italy. If completed, the acquisition would more than triple the size of our company in terms of installed capacity, and it would make us one of the major solar power players in Italy. We look forward to closing the transaction soon."
The solar power plants that Etrion intends to acquire are expected to produce over 55 million kilowatt hours ("kWh") of electricity and more than 20 million Euros of cash flow ("EBITDA") per year. The projects are operational or near-operational, ground-based solar photovoltaic ("PV") power plants that benefit from the 2009 feed-in-tariff of 0.353 Euros per kWh or the 2010 feed-in-tariff of 0.346 Euros per kWh plus a market price of approximately 0.08 Euros per kWh.
The Italian feed-in-tariff is a premium purchase price for renewable electricity that is guaranteed by the Italian government for 20 years from the start of operations.
The acquisition of the solar projects is subject to completing the negotiation of a definitive agreement, which is expected by July 2010, and which will include standard closing conditions such as change of control waivers for the existing debt facility agreements.
The Company intends to fund the acquisition through a bridge loan from its major shareholder, Lundin Petroleum, subject to regulatory approval. The bridge loan would carry interest at LIBOR plus 3%.
Marco Northland, the Company's CEO, commented, "We are very excited about this potential acquisition to strengthen our solar PV portfolio in Italy. If completed, the acquisition would more than triple the size of our company in terms of installed capacity, and it would make us one of the major solar power players in Italy. We look forward to closing the transaction soon."
The solar power plants that Etrion intends to acquire are expected to produce over 55 million kilowatt hours ("kWh") of electricity and more than 20 million Euros of cash flow ("EBITDA") per year. The projects are operational or near-operational, ground-based solar photovoltaic ("PV") power plants that benefit from the 2009 feed-in-tariff of 0.353 Euros per kWh or the 2010 feed-in-tariff of 0.346 Euros per kWh plus a market price of approximately 0.08 Euros per kWh.
The Italian feed-in-tariff is a premium purchase price for renewable electricity that is guaranteed by the Italian government for 20 years from the start of operations.
The acquisition of the solar projects is subject to completing the negotiation of a definitive agreement, which is expected by July 2010, and which will include standard closing conditions such as change of control waivers for the existing debt facility agreements.
The Company intends to fund the acquisition through a bridge loan from its major shareholder, Lundin Petroleum, subject to regulatory approval. The bridge loan would carry interest at LIBOR plus 3%.
SunEdison Acquires Two Solar PV Projects From TransAlta
TORONTO, June 16 /PRNewswire/ -- SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), today announced its purchase of two ground-mount solar photovoltaic (PV) development projects in Ontario from TransAlta, Canada's largest publicly traded generator and marketer of electricity and renewable power. This acquisition is part of SunEdison's ongoing activities to accelerate the development of solar PV projects in Ontario.
Under the terms of the sale, SunEdison acquired more than 300 acres of land across two sites near Sandhurst, Ontario (south of Napanee). The first site will be used to develop and construct a 10-MW Renewable Energy Standard Offer Program (RESOP) project. The second site will be developed for Ontario's Feed-in-Tariff (FIT) program.
SunEdison will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario's RESOP and FIT programs, both enabled by Ontario's Green Energy Act.
"We are excited to have purchased these solar photovoltaic development projects," said Jason Gray, Canada Country Manager for SunEdison. "SunEdison has a successful record of utility-scale solar PV system installations. We have the proven ability to bring solar energy projects to fruition and to do so quickly, so that we can all enjoy a cleaner, greener Ontario."
SunEdison will work with Hydro One, Greater Napanee officials, and the local community to begin construction on the RESOP project in early 2011. It is estimated the system will offset more than 50 million kilograms of CO2 over the initial 20 years of operation. The timing for the deployment of the FIT project will be determined at a later date.
"We are pleased to see SunEdison continue their efforts in developing solar PV projects in Ontario," commented Laura Formusa, CEO of Hydro One. "Their expertise in solar has been a benefit to the province and we look forward to working with them in interconnecting another one of their projects."
Under the terms of the sale, SunEdison acquired more than 300 acres of land across two sites near Sandhurst, Ontario (south of Napanee). The first site will be used to develop and construct a 10-MW Renewable Energy Standard Offer Program (RESOP) project. The second site will be developed for Ontario's Feed-in-Tariff (FIT) program.
SunEdison will finance, build, own, operate, monitor and maintain the solar energy systems. The Ontario Power Authority will purchase the energy produced under the terms of Ontario's RESOP and FIT programs, both enabled by Ontario's Green Energy Act.
"We are excited to have purchased these solar photovoltaic development projects," said Jason Gray, Canada Country Manager for SunEdison. "SunEdison has a successful record of utility-scale solar PV system installations. We have the proven ability to bring solar energy projects to fruition and to do so quickly, so that we can all enjoy a cleaner, greener Ontario."
SunEdison will work with Hydro One, Greater Napanee officials, and the local community to begin construction on the RESOP project in early 2011. It is estimated the system will offset more than 50 million kilograms of CO2 over the initial 20 years of operation. The timing for the deployment of the FIT project will be determined at a later date.
"We are pleased to see SunEdison continue their efforts in developing solar PV projects in Ontario," commented Laura Formusa, CEO of Hydro One. "Their expertise in solar has been a benefit to the province and we look forward to working with them in interconnecting another one of their projects."
Evergreen Solar Introduces its New Panels with BOOST™ Cell Technology for the French Market at Salon des Energies Renouvelables in Paris
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of String Ribbon™ solar panels with its proprietary silicon wafer technology, will unveil its upcoming line of higher efficiency solar panels featuring its newly developed BOOST™ Cell Technology, at Salon des Energies Renouvelables in Paris, France, June 16-18, 2010.
The new ES-D and ES-E series of panels for residential and commercial markets feature Evergreen’s new Boost Cell Technology that uses micro wires instead of conventional bus-bars to reduce cell shading, improve current collection and ultimately increase the overall panel efficiency. This innovative new cell technology gives our new panels a superior aesthetic, positioning them well in the French building integrated market where aesthetics are of primary concern. The new panels will begin to be available commercially from Q4 2010 onwards and are on display for viewing throughout the Salon des Energies Renouvelables at the company’s booth located in Hall 1, Stand H68.
The ES-D series panels, designed primarily for residential roofs, are lighter weight for ease of installation and smaller in size to ensure a better fit of the panels to any shape or size of roof. The ES-D series will be produced with two sets of specifications:
The ES-E series panels will be the most powerful Evergreen Solar panels ever made, with a larger panel design to meet the needs of commercial applications where the larger size helps to minimize installation costs. The ES-E series panels will be available in 220, 225 and 230W power grades.
Both the ES-D and ES-E series panels with BOOST Cell Technology will continue to deliver the exceptional performance and industry-leading environmental credentials that Evergreen panels have become known for. All the new panels will feature an industry leading -0 / +5W power tolerance and anti-reflective treated glass as standard.
“The new ES-D and ES-E series solar panels with our innovative BOOST Cell Technology are a major advance for Evergreen Solar,” said Scott Gish, Evergreen Solar’s Vice President, Sales and Marketing. “These panels are the highest efficiency product we have ever made which enables us to deliver our customers even more electricity while continuing to have less impact on the environment. And the ability to offer product options tailored specifically for either the residential or commercial end-user - whether their priority is aesthetics or performance – allows us to meet our customers specific needs much better.”
The new ES-D and ES-E series panels will continue to be manufactured using Evergreen Solar’s proprietary wafer manufacturing technology which is the most environmentally-friendly process in the industry with virtually no wasted silicon. The carbon footprint of these panels is up to 30% smaller than that of its competitors and they also have the quickest energy payback in the industry, now less than 12 months.
The new ES-D and ES-E series of panels for residential and commercial markets feature Evergreen’s new Boost Cell Technology that uses micro wires instead of conventional bus-bars to reduce cell shading, improve current collection and ultimately increase the overall panel efficiency. This innovative new cell technology gives our new panels a superior aesthetic, positioning them well in the French building integrated market where aesthetics are of primary concern. The new panels will begin to be available commercially from Q4 2010 onwards and are on display for viewing throughout the Salon des Energies Renouvelables at the company’s booth located in Hall 1, Stand H68.
The ES-D series panels, designed primarily for residential roofs, are lighter weight for ease of installation and smaller in size to ensure a better fit of the panels to any shape or size of roof. The ES-D series will be produced with two sets of specifications:
- ES-D Aesthetic series: This product features an all-black panel with an attractive uniform appearance for when aesthetics and the look on the roof is a priority. They will be available in 195, 200 and 205W power grades.
- ES-D Performance series: This product is designed for optimizing performance. They will be available in 200, 205 and 210W power grades.
The ES-E series panels will be the most powerful Evergreen Solar panels ever made, with a larger panel design to meet the needs of commercial applications where the larger size helps to minimize installation costs. The ES-E series panels will be available in 220, 225 and 230W power grades.
Both the ES-D and ES-E series panels with BOOST Cell Technology will continue to deliver the exceptional performance and industry-leading environmental credentials that Evergreen panels have become known for. All the new panels will feature an industry leading -0 / +5W power tolerance and anti-reflective treated glass as standard.
“The new ES-D and ES-E series solar panels with our innovative BOOST Cell Technology are a major advance for Evergreen Solar,” said Scott Gish, Evergreen Solar’s Vice President, Sales and Marketing. “These panels are the highest efficiency product we have ever made which enables us to deliver our customers even more electricity while continuing to have less impact on the environment. And the ability to offer product options tailored specifically for either the residential or commercial end-user - whether their priority is aesthetics or performance – allows us to meet our customers specific needs much better.”
The new ES-D and ES-E series panels will continue to be manufactured using Evergreen Solar’s proprietary wafer manufacturing technology which is the most environmentally-friendly process in the industry with virtually no wasted silicon. The carbon footprint of these panels is up to 30% smaller than that of its competitors and they also have the quickest energy payback in the industry, now less than 12 months.
XcelPlus Global Holdings Acquiring Solar Hot Water Systems – Eyes Market Expansion
DOTHAN, Ala.--(BUSINESS WIRE)--XcelPlus Global Holdings Inc. (Pink Sheets: XPGH) will receive its first shipment of solar hot water systems in July and has already entered negotiations for additional units, following through on its plan announced earlier this month to diversify the company's customer base and product lines.
"XcelPlus Global is a green energy company at its core, so expansion into the solar segment is a natural evolution," said Chief Operating Officer David Poston. "Our near-term goal is to install several units and verify the performance. Longer term, we are in negotiation for purchase of additional units or possibly acquiring the supplier, though nothing is final." The solar systems are designed for home and light commercial/industrial applications. The Federal government currently provides a 30 percent tax credit for the purchase of a home solar unit. States may offer additional incentives.
With the delay in renewal of the biofuel subsidy, XcelPlus Global's management moved purposefully to expand the company's technology base, Poston explained. "The income from the subsidy helped build this company in its early stages. However, the increasing delays in the subsidy's renewal, and the need for it to be renewed annually, caused management to explore additional revenue streams."
This release includes forward-looking statements, including statements about future growth. These forward-looking statements are not guarantees of future performance, and a variety of factors could cause the company’s actual results to differ materially from the anticipated or expected results expressed in these forward-looking statements, including the risks that: the federal government will fail to renew certain tax credits; the Company will not be able to continue to acquire suitable raw materials; and the Company will not be able to expand its customer base as it anticipates.
"XcelPlus Global is a green energy company at its core, so expansion into the solar segment is a natural evolution," said Chief Operating Officer David Poston. "Our near-term goal is to install several units and verify the performance. Longer term, we are in negotiation for purchase of additional units or possibly acquiring the supplier, though nothing is final." The solar systems are designed for home and light commercial/industrial applications. The Federal government currently provides a 30 percent tax credit for the purchase of a home solar unit. States may offer additional incentives.
With the delay in renewal of the biofuel subsidy, XcelPlus Global's management moved purposefully to expand the company's technology base, Poston explained. "The income from the subsidy helped build this company in its early stages. However, the increasing delays in the subsidy's renewal, and the need for it to be renewed annually, caused management to explore additional revenue streams."
This release includes forward-looking statements, including statements about future growth. These forward-looking statements are not guarantees of future performance, and a variety of factors could cause the company’s actual results to differ materially from the anticipated or expected results expressed in these forward-looking statements, including the risks that: the federal government will fail to renew certain tax credits; the Company will not be able to continue to acquire suitable raw materials; and the Company will not be able to expand its customer base as it anticipates.
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