PRINCETON, N.J.--(BUSINESS WIRE)--NRG Solar, a subsidiary of NRG Energy, Inc. (NYSE: NRG), started producing electricity at its 20-megawatt (MW) Roadrunner Solar Generating Facility, the second-largest photovoltaic (PV) project in the state of New Mexico. It is the third large-scale solar generation plant NRG has brought online and the Company’s first outside California.
The Roadrunner facility created more than 200 jobs during its construction over the past nine months and now will generate enough renewable power to supply thousands of homes when operating at full capacity. First Solar Inc. (Nasdaq: FSLR) provided engineering, construction and procurement services for the project using its advanced thin film photovoltaic solar modules, and will also be the operations and maintenance contractor for the facility.
“On the heels of our recent commencement of operations at the Avenal Solar Generating Facility in California we now have our first solar facility operating in New Mexico, signaling that our diligent labors last year are starting to bear fruit,” said Tom Doyle, President of NRG Solar and NRG’s West Region. “We celebrate this milestone with our customers and business partners in New Mexico, where our facility will help harness the state’s plentiful solar resources to meet its renewable energy goals.”
The Roadrunner facility uses First Solar’s advanced thin-film modules mounted on single-axis trackers. The system rotates the PV solar panels to follow the sun throughout the day, increasing electricity production compared with a fixed tilt installation.
The facility is located on a 210-acre privately owned parcel of industrial-zoned land near Santa Teresa, New Mexico, about 10 miles from El Paso, Texas. Cost-competitive, renewable power generated by the Roadrunner facility will be sold to El Paso Electric under a 20-year power purchase agreement.
Wednesday, August 31, 2011
China Solar & Clean Energy Solutions, Inc. Announces the Appointments for the Guizhou Eco-Buildings Projects
BEIJING, Aug. 31, 2011 /PRNewswire-Asia/ -- China Solar & Clean Energy Solutions, Inc. (OTC Bulletin Board: CSOL) ('CSOL' or the 'Company'), a premier manufacturer and distributor of solar water heaters, space heating devices, and integrated low carbon solutions providers in the People's Republic of China, today announced the appointments of Mr. Nie ErSen as the CEO Assistant & Manager of Large Projects Operations, and Ms. Li Fen as the Chief Technology Officer (CTO) on Integrated Low Carbon Eco-Solutions System.
Effective Aug. 30th, 2011, Mr. Nie ErSen is appointed as the CEO Assistant & Manager of Large Projects Operations. Mr. Nie is a Chinese, male, aged 45, with a Doctors degree from China Forestry and Science Institute, Masters degree from Chinese Academy of Agricultural Sciences in Agriculture Products Preservation and Processing, and a B.S. Degree from Tsinghua University majoring in Heating, Ventilation and A/C from Heat Energy Engineering School. From 2008 to July 2011, he worked in Beijing North Solar Engineering & Technology Co., Ltd. as Vice-GM. From 2005 to 2008, he served in the UK ICA company Beijing representative office as the Chief Representative and was dispatched to the UK for overseas study in Agriculture Engineering Technology. From 2001 to 2005, he was the Chief Representative of Holland GEERLOFS company Shanghai representative office and dispatched to Holland for further education in Agriculture Devices Technologies.
Effective Aug. 30th, 2011, Ms. Li Fen is appointed as the Chief Technology Officer (CTO) on Integrated Low Carbon Eco-Solutions System. Ms. Li Fen, Chinese, aged 37, is a French national registered architect with a Doctors degree from CEDETE and Masters degree in Researching Urban City Planning and Renovation. She is the founder of the Sino-France Urban Sustainable Development Association and partner of XLGD architecture consulting firm with profound international experience in architecture designing and urban planning (5yrs in China and 4yrs in France). In 2005, she won the design prize on international solar architecture organized and issued by International Solar Association and China Renewable Energy Association. In 2009, she joined Deli Solar (Beijing office) as the Chief Representative in EU responsible of investigating and introducing European energy saving products and green technologies and then, in 2011, she is in charge of integrated eco-solutions system operation of the company.
Effective Aug. 30th, 2011, Mr. Nie ErSen is appointed as the CEO Assistant & Manager of Large Projects Operations. Mr. Nie is a Chinese, male, aged 45, with a Doctors degree from China Forestry and Science Institute, Masters degree from Chinese Academy of Agricultural Sciences in Agriculture Products Preservation and Processing, and a B.S. Degree from Tsinghua University majoring in Heating, Ventilation and A/C from Heat Energy Engineering School. From 2008 to July 2011, he worked in Beijing North Solar Engineering & Technology Co., Ltd. as Vice-GM. From 2005 to 2008, he served in the UK ICA company Beijing representative office as the Chief Representative and was dispatched to the UK for overseas study in Agriculture Engineering Technology. From 2001 to 2005, he was the Chief Representative of Holland GEERLOFS company Shanghai representative office and dispatched to Holland for further education in Agriculture Devices Technologies.
Effective Aug. 30th, 2011, Ms. Li Fen is appointed as the Chief Technology Officer (CTO) on Integrated Low Carbon Eco-Solutions System. Ms. Li Fen, Chinese, aged 37, is a French national registered architect with a Doctors degree from CEDETE and Masters degree in Researching Urban City Planning and Renovation. She is the founder of the Sino-France Urban Sustainable Development Association and partner of XLGD architecture consulting firm with profound international experience in architecture designing and urban planning (5yrs in China and 4yrs in France). In 2005, she won the design prize on international solar architecture organized and issued by International Solar Association and China Renewable Energy Association. In 2009, she joined Deli Solar (Beijing office) as the Chief Representative in EU responsible of investigating and introducing European energy saving products and green technologies and then, in 2011, she is in charge of integrated eco-solutions system operation of the company.
ET Solar Announces Linear Power Performance Warranty
NANJING, China, Aug. 31, 2011 /PRNewswire-Asia/ -- ET Solar Group Corp. ("ET Solar"), a China-based vertically integrated producer and provider of solar modules and related PV solutions to the global solar market, today announces linear power performance warranty for its solar module products.
ET Solar 25-year linear power performance warranty guarantees no less than 97% of the nominal power output in the first year and then a maximum annual output degradation of 0.65% thereafter. By the end of the 25th year, the actual power output will be no less than 81.4% of the nominal power output. This warranty applies to both mono and multi-crystalline modules of ET Solar.
Dennis Shaw, Chief Executive Officer of ET Solar, commented, "The linear power performance warranty is a result of our continuous R&D and quality control efforts. This new warranty program, together with the 10-year workmanship warranty program that we launched in this May for our module products, will provide stronger assurance to our customers on quality of our modules and the financial returns they bring."
ET Solar 25-year linear power performance warranty guarantees no less than 97% of the nominal power output in the first year and then a maximum annual output degradation of 0.65% thereafter. By the end of the 25th year, the actual power output will be no less than 81.4% of the nominal power output. This warranty applies to both mono and multi-crystalline modules of ET Solar.
Dennis Shaw, Chief Executive Officer of ET Solar, commented, "The linear power performance warranty is a result of our continuous R&D and quality control efforts. This new warranty program, together with the 10-year workmanship warranty program that we launched in this May for our module products, will provide stronger assurance to our customers on quality of our modules and the financial returns they bring."
Solyndra Files Bankruptcy, Suspends Operations
FREMONT, Calif., August 31, 2011 – Solyndra LLC, the American manufacturer of innovative cylindrical solar systems for commercial rooftops today announced that global economic and solar industry market conditions have forced the Company to suspend its manufacturing operations. Solyndra intends to file a petition for relief under Chapter 11 of the U.S. Bankruptcy Code while it evaluates options, including a sale of the business and licensing of its advanced CIGS technology and manufacturing expertise. As a result of the suspension of operations approximately 1,100 full-time and temporary employees are being laid off effective immediately.
Despite strong growth in the first half of 2011 and traction in North America with a number of orders for very large commercial rooftops, Solyndra could not achieve full-scale operations rapidly enough to compete in the near term with the resources of larger foreign manufacturers. This competitive challenge was exacerbated by a global oversupply of solar panels and a severe compression of prices that in part resulted from uncertainty in governmental incentive programs in Europe and the decline in credit markets that finance solar systems.
“We are incredibly proud of our employees, and we would like to thank our investors, channel partners, customers and suppliers, for the years of support that allowed us to bring our innovative technology to market. Distributed rooftop solar power makes sense, and our customers clearly recognize the advantages of Solyndra systems,” said Solyndra’s president and CEO, Brian Harrison. “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion. Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”
Customers who have implemented Solyndra solutions can be assured that their systems will generate economical, clean, solar power for decades.
Contact: Dave Miller, Director Corporate Communications (510) 440-2979.
Despite strong growth in the first half of 2011 and traction in North America with a number of orders for very large commercial rooftops, Solyndra could not achieve full-scale operations rapidly enough to compete in the near term with the resources of larger foreign manufacturers. This competitive challenge was exacerbated by a global oversupply of solar panels and a severe compression of prices that in part resulted from uncertainty in governmental incentive programs in Europe and the decline in credit markets that finance solar systems.
“We are incredibly proud of our employees, and we would like to thank our investors, channel partners, customers and suppliers, for the years of support that allowed us to bring our innovative technology to market. Distributed rooftop solar power makes sense, and our customers clearly recognize the advantages of Solyndra systems,” said Solyndra’s president and CEO, Brian Harrison. “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion. Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”
Customers who have implemented Solyndra solutions can be assured that their systems will generate economical, clean, solar power for decades.
Contact: Dave Miller, Director Corporate Communications (510) 440-2979.
Australia’s First Utility-Scale Solar PV Project Under Way in Western Australia
GERALDTON, Australia--(BUSINESS WIRE)--First Solar, Inc. (Nasdaq: FSLR), Verve Energy and GE (NYSE: GE) unit GE Energy Financial Services announced today that Australia’s first utility-scale solar power project is under way. Output from the 10-megawatt AC project on 80 hectares of cleared land 50km southeast of Geraldton will contribute to offsetting the energy requirements of the Southern Seawater Desalination Plant.
Western Australian state-owned power utility Verve Energy and GE Energy Financial Services will each own 50 percent of the Greenough River Solar Farm, with the WA Government providing A$20 million, including A$10 million from the WA Royalties for Regions program. No debt will be raised to fund the project.
The WA Water Corporation, which is building the Southern Seawater Desalination Plant, has committed to purchase 100 percent of the solar farm’s output.
First Solar has agreed to supply the project with over 150,000 of its advanced thin film photovoltaic (PV) modules and provide engineering, procurement and construction services, in addition to operations and maintenance support once the solar farm is operational. The agreement is subject to the satisfaction of certain statutory requirements.
Welcoming the go-ahead for this green project, Verve Energy Strategy and Business Development Manager Tony Narvaez said: “The solar farm is important for Verve Energy, for Western Australia and for the local renewable energy sector. It enhances Verve Energy’s reputation as a renewable energy innovator.”
The solar farm will be the first utility-scale PV project in Australia, 10 times larger than any other operating solar project in the country.
Taking advantage of the area’s vast dry, flat and sunny conditions, it is expected to be fully operational mid next year.
“This announcement demonstrates the significant potential for renewable energy generation – especially utility-scale solar in WA and throughout Australia,” said Jim Brown, who will become President of Utility Systems Business Group for First Solar, effective Sept. 1. “We’re pleased to bring our expertise in advanced PV technology and utility-scale solar deployment to Verve Energy and GE Energy Financial Services to deliver this groundbreaking project.”
For GE Energy Financial Services, the project represents its first renewable energy investment in Australia, adding to its global portfolio of more than US$400 million of solar power equity and debt investments in 42 projects.
“This transaction enables us to apply our renewable energy investment expertise to a new market, add to our portfolio of projects with First Solar and to GE’s broader work with Verve Energy,” said Jason Willoughby, GE Energy Financial Services’ Australia business leader. “This project also will support GE’s ecomagination program, in our aim to help customers meet their environmental challenges.”
Providing clean, affordable and sustainable energy to partially power the Southern Seawater Desalination Plant, near the town of Binningup, the solar project is expected to create more than 50 construction jobs. The project, which will produce energy when it is most needed – during the day, will displace 25,000 tonnes per year of greenhouse gas emissions, the equivalent of taking 5,000 cars off the road.
Western Australia requires new desalination plants to use power generated from renewable sources. The state’s primary supplier of water, wastewater and drainage services, the Water Corporation, will purchase the power generated by the solar farm for the Southern Seawater Desalination Plant under a 15-year contract. The plant will produce about 50 gigalitres of potable water per year.
The project will boost Western Australia’s share of the Federal Government’s renewable energy target of 20 percent by 2020.
Western Australian state-owned power utility Verve Energy and GE Energy Financial Services will each own 50 percent of the Greenough River Solar Farm, with the WA Government providing A$20 million, including A$10 million from the WA Royalties for Regions program. No debt will be raised to fund the project.
The WA Water Corporation, which is building the Southern Seawater Desalination Plant, has committed to purchase 100 percent of the solar farm’s output.
First Solar has agreed to supply the project with over 150,000 of its advanced thin film photovoltaic (PV) modules and provide engineering, procurement and construction services, in addition to operations and maintenance support once the solar farm is operational. The agreement is subject to the satisfaction of certain statutory requirements.
Welcoming the go-ahead for this green project, Verve Energy Strategy and Business Development Manager Tony Narvaez said: “The solar farm is important for Verve Energy, for Western Australia and for the local renewable energy sector. It enhances Verve Energy’s reputation as a renewable energy innovator.”
The solar farm will be the first utility-scale PV project in Australia, 10 times larger than any other operating solar project in the country.
Taking advantage of the area’s vast dry, flat and sunny conditions, it is expected to be fully operational mid next year.
“This announcement demonstrates the significant potential for renewable energy generation – especially utility-scale solar in WA and throughout Australia,” said Jim Brown, who will become President of Utility Systems Business Group for First Solar, effective Sept. 1. “We’re pleased to bring our expertise in advanced PV technology and utility-scale solar deployment to Verve Energy and GE Energy Financial Services to deliver this groundbreaking project.”
For GE Energy Financial Services, the project represents its first renewable energy investment in Australia, adding to its global portfolio of more than US$400 million of solar power equity and debt investments in 42 projects.
“This transaction enables us to apply our renewable energy investment expertise to a new market, add to our portfolio of projects with First Solar and to GE’s broader work with Verve Energy,” said Jason Willoughby, GE Energy Financial Services’ Australia business leader. “This project also will support GE’s ecomagination program, in our aim to help customers meet their environmental challenges.”
Providing clean, affordable and sustainable energy to partially power the Southern Seawater Desalination Plant, near the town of Binningup, the solar project is expected to create more than 50 construction jobs. The project, which will produce energy when it is most needed – during the day, will displace 25,000 tonnes per year of greenhouse gas emissions, the equivalent of taking 5,000 cars off the road.
Western Australia requires new desalination plants to use power generated from renewable sources. The state’s primary supplier of water, wastewater and drainage services, the Water Corporation, will purchase the power generated by the solar farm for the Southern Seawater Desalination Plant under a 15-year contract. The plant will produce about 50 gigalitres of potable water per year.
The project will boost Western Australia’s share of the Federal Government’s renewable energy target of 20 percent by 2020.
Heraeus Highlights SOL9410 and SOL9411 at the 26th European Photovoltaic Solar Energy Conference and Exhibition
WEST CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--The Heraeus Photovoltaic Business Unit, a world leader in developing front and back-side silver pastes for crystalline solar cells, will continue to highlight its SOL9410 and SOL9411 pastes for conventional solar cells at this year’s 26th annual European Photovoltaic Solar Energy Conference and Exhibition (PVSEC) from September 5-8 in Hamburg, Germany.
Heraeus has continued to improve its metallization pastes in a strong effort to meet the industry’s need to reduce the cost-per-watt of PV systems. Heraeus’ creation of SOL9410 and SOL9411 has allowed customers to use 20% less paste per cell than its industry leading SOL9235H. While maintaining its high efficiency and processing characteristics, SOL9410 and SOL9411 improves customers’ bottom line.
“SOL9410 and SOL9411 are continuing to provide added benefits to our customers, and the 20% reduction in paste usage improves their cost position in the market. Efficiency is still the primary benefit our customers are finding in this series of paste, but the ability to improve their product’s cost structure with our pastes is an added advantage as the market becomes more cost sensitive,” said Dr. Weiming Zhang, Vice President of Technology for the Photovoltaic Business Unit.
SOL9410 and SOL9411 are optimized for high efficiency and throughput processing. These pastes exceed the quality of standard pastes and are designed for varying emitter depths and concentrations. This series of paste provides the user with an excellent aspect ratio and contact quality on various emitters and wafers.
“We will be excited to talk to the industry about this and other new products we have developed while we are attending PVSEC in Hamburg,” said Andy London, Global Manager for the Photovoltaic Business Unit.
To learn more about Heraeus’ SOL9410 and SOL9411 pastes and other metallization pastes for the photovoltaic industry, go to www.pvsilverpaste.com, or visit us at this year’s PVSEC trade show at the CCH Congress Center and International Fair in Hamburg, Germany, September 5 – 8, Hall A4 booth number B9.
About the Heraeus Photovoltaics Business Unit
Heraeus manufactures high volumes of thick film pastes for some of the most prominent companies within a variety of industries. For over 40 years, it has built a reputation of innovation, extensive research and new product development. The Heraeus Photovoltaics Business Unit applies its innovative technology to the field of photovoltaics, offering silver pastes for crystalline solar cells. The Heraeus SOL Series of silver pastes is specially formulated to provide higher efficiencies and wider processing windows, resulting in better yields and higher output for cell manufacturers.
Heraeus, the precious metals and technology group headquartered in Hanau, Germany, is a global, private company with 160 years of tradition. Our fields of competence include precious metals, materials, and technologies, sensors, biomaterials, and medical products, as well as dental products, quartz glass, and specialty light sources. With product revenues of €4.1 billion and precious metal trading revenues of €17.9 billion, as well as more than 12,900 employees in over 120 subsidiaries worldwide, Heraeus holds a leading position in its global markets.
Heraeus has continued to improve its metallization pastes in a strong effort to meet the industry’s need to reduce the cost-per-watt of PV systems. Heraeus’ creation of SOL9410 and SOL9411 has allowed customers to use 20% less paste per cell than its industry leading SOL9235H. While maintaining its high efficiency and processing characteristics, SOL9410 and SOL9411 improves customers’ bottom line.
“SOL9410 and SOL9411 are continuing to provide added benefits to our customers, and the 20% reduction in paste usage improves their cost position in the market. Efficiency is still the primary benefit our customers are finding in this series of paste, but the ability to improve their product’s cost structure with our pastes is an added advantage as the market becomes more cost sensitive,” said Dr. Weiming Zhang, Vice President of Technology for the Photovoltaic Business Unit.
SOL9410 and SOL9411 are optimized for high efficiency and throughput processing. These pastes exceed the quality of standard pastes and are designed for varying emitter depths and concentrations. This series of paste provides the user with an excellent aspect ratio and contact quality on various emitters and wafers.
“We will be excited to talk to the industry about this and other new products we have developed while we are attending PVSEC in Hamburg,” said Andy London, Global Manager for the Photovoltaic Business Unit.
To learn more about Heraeus’ SOL9410 and SOL9411 pastes and other metallization pastes for the photovoltaic industry, go to www.pvsilverpaste.com, or visit us at this year’s PVSEC trade show at the CCH Congress Center and International Fair in Hamburg, Germany, September 5 – 8, Hall A4 booth number B9.
About the Heraeus Photovoltaics Business Unit
Heraeus manufactures high volumes of thick film pastes for some of the most prominent companies within a variety of industries. For over 40 years, it has built a reputation of innovation, extensive research and new product development. The Heraeus Photovoltaics Business Unit applies its innovative technology to the field of photovoltaics, offering silver pastes for crystalline solar cells. The Heraeus SOL Series of silver pastes is specially formulated to provide higher efficiencies and wider processing windows, resulting in better yields and higher output for cell manufacturers.
Heraeus, the precious metals and technology group headquartered in Hanau, Germany, is a global, private company with 160 years of tradition. Our fields of competence include precious metals, materials, and technologies, sensors, biomaterials, and medical products, as well as dental products, quartz glass, and specialty light sources. With product revenues of €4.1 billion and precious metal trading revenues of €17.9 billion, as well as more than 12,900 employees in over 120 subsidiaries worldwide, Heraeus holds a leading position in its global markets.
Tuesday, August 30, 2011
Renewable Social Benefit Funds and Xzerta Energy Group Announce The Sol Haven Fund
NEW YORK--(BUSINESS WIRE)--Renewable Social Benefit Funds, and Xzerta Energy Group today announced the formation of a solar-focused safe harbor fund targeted at $200-400 million of projects. The Fund, named Sol Haven Fund, will be immediately reaching out to industry front line developers, EPC providers, integrators and installers to identify and facilitate realization of solar projects qualifying for safe harbor under the current ITC Grant program.
Renewable Social Benefit Funds, whose sole focus is assisting nonprofits and municipalities in obtaining clean energy without upfront cost while producing immediate and long-term energy savings, is leading this effort to make sure that these projects remain viable and will actually be built. “These systems, the savings they produce, and the benefits to the fight against climate change are too important to our local communities to be held hostage by expiring federal incentives,” said Jonathan Jaffrey, president of Renewable Social Benefit Funds. “With the difficulties we are experiencing in the economy, we need — more than ever — to make sure that these systems are built.”
The solar industry has been fueled over the last few years by the creation of the Federal ITC Grant program, expected to sunset December 31st of this year. This program has provided significant assistance to the renewable energy sector and has helped to facilitate its growth. The expected expiration of this program will mean many good projects that would otherwise provide millions of dollars of value to local communities in the form of energy savings and new jobs may never come to fruition.
The fund will be targeting the safe harbor of over 100 megawatts of projects for 2012. Xzerta Energy Group is an affiliate of Aurgia Holdings, which will be facilitating the financing for these projects. According to John Tartaglia, CEO of Xzerta Energy Group: “Solar projects provide attractive returns for our clients, while at the same time benefitting local communities and the environment. We are pleased to be partnering with Renewable Social Benefit Funds to bring this Fund to reality.”
For more information on how your project can be part of this program, please contact Jonathan Jaffrey at 855-RSB-FUND or at jdj@rsbfunds.com or Lauren Carson at 646-998-6457 or at lauren@xzertaenergy.com.
Renewable Social Benefit Funds, whose sole focus is assisting nonprofits and municipalities in obtaining clean energy without upfront cost while producing immediate and long-term energy savings, is leading this effort to make sure that these projects remain viable and will actually be built. “These systems, the savings they produce, and the benefits to the fight against climate change are too important to our local communities to be held hostage by expiring federal incentives,” said Jonathan Jaffrey, president of Renewable Social Benefit Funds. “With the difficulties we are experiencing in the economy, we need — more than ever — to make sure that these systems are built.”
The solar industry has been fueled over the last few years by the creation of the Federal ITC Grant program, expected to sunset December 31st of this year. This program has provided significant assistance to the renewable energy sector and has helped to facilitate its growth. The expected expiration of this program will mean many good projects that would otherwise provide millions of dollars of value to local communities in the form of energy savings and new jobs may never come to fruition.
The fund will be targeting the safe harbor of over 100 megawatts of projects for 2012. Xzerta Energy Group is an affiliate of Aurgia Holdings, which will be facilitating the financing for these projects. According to John Tartaglia, CEO of Xzerta Energy Group: “Solar projects provide attractive returns for our clients, while at the same time benefitting local communities and the environment. We are pleased to be partnering with Renewable Social Benefit Funds to bring this Fund to reality.”
For more information on how your project can be part of this program, please contact Jonathan Jaffrey at 855-RSB-FUND or at jdj@rsbfunds.com or Lauren Carson at 646-998-6457 or at lauren@xzertaenergy.com.
Mainstream Energy Names Lee Johnson as New CEO and President
SAN LUIS OBISPO, Calif.--(BUSINESS WIRE)--Mainstream Energy Corporation and its two subsidiaries, REC Solar and AEE Solar, each among the oldest, largest and most experienced solar energy companies in the country, today announced the appointment of Lee Johnson as chief executive officer and president. Johnson will have direct responsibility for all operations at Mainstream Energy and its subsidiaries REC Solar and AEE Solar.
Johnson joins Mainstream Energy after 18 years in international business with the A.P. Moller – Maersk Group, a worldwide conglomerate, where he was responsible for all Latin American operations, overseeing 5,000 employees. Most recently, Johnson was at Collaboration Consulting, a business and technology consulting firm. Johnson also brings direct experience in the solar industry, having led Mainstream Energy’s distribution business for nine months in 2009 and 2010.
“I’m pleased to return to Mainstream Energy, a company I believe is poised to continue its tremendous growth, as well as its role in bringing solar power to the mainstream,” said Lee Johnson, Mainstream Energy CEO and president. “With my strong background in operations management, I look forward to expanding the company’s leadership position nationally. I share the company’s belief that rapid integration of solar and other renewable energy sources into the conventional electricity grid is both inevitable and absolutely vital to creating a more secure and sustainable world.”
Angiolo Laviziano, former CEO and president of Mainstream Energy, will continue his commitment to bringing solar into the mainstream through superior service and enhancing solar's value proposition in each of Mainstream Energy's primary end markets as a board member. Having joined REC Solar in 2005, Laviziano brings 10 years of experience in the solar market to the Mainstream Energy board of directors, made up of seasoned professionals with more than 100 years of collective experience building and operating renewable energy companies.
“It has been one of the greatest joys in my life to work for all of you,” said Mainstream Energy board member Angiolo Laviziano to his team of 600 professionals. “Through your combined efforts, you have brought Mainstream Energy to where it is today -- one of the largest and most respected companies in the U.S. photovoltaic downstream market. We have delivered enough megawatts of solar since 2005 to avoid 6.1 billion pounds of CO2 emissions, the equivalent of having planted 14.5 million trees!”
About Mainstream Energy
Mainstream Energy currently operates two wholly owned subsidiaries both of which are respected leaders in their respective sector. The companies serve different customer groups within the solar marketplace, but leverage tools, systems and expertise from the parent company to drive growth and excellence in quality, service and cost. AEE Solar Inc. is one of America's oldest, largest and most respected wholesale distributors of renewable energy systems and equipment. Headquartered in Northern California, AEE Solar is a full-service distributor offering a comprehensive range of solar and renewable energy products and services to support the growth of solar contractors, dealers and installers, primarily in North America. REC Solar Inc., established in 1997 in San Luis Obispo, California, is an industry leading solar power provider specializing in grid-tied residential and commercial installations. With a local presence in all major solar markets in the USA and thousands of kilowatts installed, REC Solar is committed to lowering the cost of solar power through efficient processes, innovative products and outstanding customer service.
Johnson joins Mainstream Energy after 18 years in international business with the A.P. Moller – Maersk Group, a worldwide conglomerate, where he was responsible for all Latin American operations, overseeing 5,000 employees. Most recently, Johnson was at Collaboration Consulting, a business and technology consulting firm. Johnson also brings direct experience in the solar industry, having led Mainstream Energy’s distribution business for nine months in 2009 and 2010.
“I’m pleased to return to Mainstream Energy, a company I believe is poised to continue its tremendous growth, as well as its role in bringing solar power to the mainstream,” said Lee Johnson, Mainstream Energy CEO and president. “With my strong background in operations management, I look forward to expanding the company’s leadership position nationally. I share the company’s belief that rapid integration of solar and other renewable energy sources into the conventional electricity grid is both inevitable and absolutely vital to creating a more secure and sustainable world.”
Angiolo Laviziano, former CEO and president of Mainstream Energy, will continue his commitment to bringing solar into the mainstream through superior service and enhancing solar's value proposition in each of Mainstream Energy's primary end markets as a board member. Having joined REC Solar in 2005, Laviziano brings 10 years of experience in the solar market to the Mainstream Energy board of directors, made up of seasoned professionals with more than 100 years of collective experience building and operating renewable energy companies.
“It has been one of the greatest joys in my life to work for all of you,” said Mainstream Energy board member Angiolo Laviziano to his team of 600 professionals. “Through your combined efforts, you have brought Mainstream Energy to where it is today -- one of the largest and most respected companies in the U.S. photovoltaic downstream market. We have delivered enough megawatts of solar since 2005 to avoid 6.1 billion pounds of CO2 emissions, the equivalent of having planted 14.5 million trees!”
About Mainstream Energy
Mainstream Energy currently operates two wholly owned subsidiaries both of which are respected leaders in their respective sector. The companies serve different customer groups within the solar marketplace, but leverage tools, systems and expertise from the parent company to drive growth and excellence in quality, service and cost. AEE Solar Inc. is one of America's oldest, largest and most respected wholesale distributors of renewable energy systems and equipment. Headquartered in Northern California, AEE Solar is a full-service distributor offering a comprehensive range of solar and renewable energy products and services to support the growth of solar contractors, dealers and installers, primarily in North America. REC Solar Inc., established in 1997 in San Luis Obispo, California, is an industry leading solar power provider specializing in grid-tied residential and commercial installations. With a local presence in all major solar markets in the USA and thousands of kilowatts installed, REC Solar is committed to lowering the cost of solar power through efficient processes, innovative products and outstanding customer service.
Level 3 Data Centre Facilities in London and Amsterdam Powered by 100 Percent Renewable Energy
LONDON, Aug. 30, 2011 /PRNewswire/ -- Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that it has taken significant steps toward decreasing its carbon footprint by relying solely on renewable energy for commercial power at three European data centre facilities. Level 3's colocation facility in Amsterdam and two colocation facilities in London now rely 100 percent on green energy for commercial power.
As part of the company's commitment to responsible and efficient operations, Level 3 has received certifications from energy providers in both countries stating that the specified facilities now receive all commercial electric power from renewable energy sources, including wind power, hydroelectric power and solar power.
"Our data centres house some of the most critical information, and it takes a lot of energy to ensure that information is properly stored, protected and accessible," said James Heard, president of European Markets for Level 3. "With three data centres 100 percent reliant on renewable energy for commercial power, Level 3 not only demonstrates our commitment to achieving excellence in its protection of the environment and sustainability, we also demonstrate our commitment to monitoring, assessing and implementing innovative technology."
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT) is a leading international provider of fiber-based communications services. Enterprise, content, wholesale and government customers rely on Level 3 to deliver services with an industry-leading combination of scalability and value over an end-to-end fiber network. Level 3 offers a portfolio of metro and long-haul services, including transport, data, Internet, content delivery and voice. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. For more information, visit www.Level3.com.
As part of the company's commitment to responsible and efficient operations, Level 3 has received certifications from energy providers in both countries stating that the specified facilities now receive all commercial electric power from renewable energy sources, including wind power, hydroelectric power and solar power.
"Our data centres house some of the most critical information, and it takes a lot of energy to ensure that information is properly stored, protected and accessible," said James Heard, president of European Markets for Level 3. "With three data centres 100 percent reliant on renewable energy for commercial power, Level 3 not only demonstrates our commitment to achieving excellence in its protection of the environment and sustainability, we also demonstrate our commitment to monitoring, assessing and implementing innovative technology."
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT) is a leading international provider of fiber-based communications services. Enterprise, content, wholesale and government customers rely on Level 3 to deliver services with an industry-leading combination of scalability and value over an end-to-end fiber network. Level 3 offers a portfolio of metro and long-haul services, including transport, data, Internet, content delivery and voice. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. For more information, visit www.Level3.com.
Verengo Solar Plus Named on 2011 Inc. Magazine 500/5000
ORANGE, CA--(Marketwire - Aug 30, 2011) - Inc. magazine this week ranked Verengo Solar Plus #66 on its fifth annual Inc. 500/5000 list of the nation's fastest-growing energy companies. For the past two years Verengo has been the leading residential solar installer in Southern California and recently opened offices in California's Central Valley and in New Jersey as the company continues to expand.
The Inc. 500/5000 acknowledgement is testament to Verengo's growth over the past three years. Verengo now joins a prestigious list of powerhouses who gained early exposure as members of the Inc. 500 including Microsoft, Dunkin Donuts, Intuit, GoDaddy, Vizio, Clif Bar, American Apparel, and Oracle.
In a stagnant economic environment, median growth rate of 2011 Inc. 500/5000 companies remains an impressive 94 percent. The companies on this year's list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
"Fast growth at any time is a big achievement; fast growth during the past few years is just-short-of-miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of-miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Randy Bishop, Chief Executive Officer and Co-Founder of Verengo, commented, "This is an incredible milestone for our company and is testament to the unwavering commitment of each and every one of our employees who have helped shape Verengo into the trusted solar company it is today."
"We have hired over 300 employees this year alone and continue to hire more every day to meet our customer needs. It's wonderful to be able to hire at a tough economic time like this," said Verengo President and Co-Founder Ken Button.
ABOUT VERENGO SOLAR PLUS
Verengo Solar Plus is changing the way America thinks about solar! As the #1 residential solar integrator based in Southern California, Verengo offers comprehensive financial options and superior customer service, and consistently earns an A+ with the Better Business Bureau. Verengo has reduced carbon emissions through its solar power systems, accomplishing the equivalent of planting 120,000 acres of trees and taking more than 48,000 cars off the road, and saving homeowners $100 million in energy costs over the lifetime of Verengo's installed systems to date. For more information on Verengo Solar Plus, please visit www.VerengoSolar.com
The Inc. 500/5000 acknowledgement is testament to Verengo's growth over the past three years. Verengo now joins a prestigious list of powerhouses who gained early exposure as members of the Inc. 500 including Microsoft, Dunkin Donuts, Intuit, GoDaddy, Vizio, Clif Bar, American Apparel, and Oracle.
In a stagnant economic environment, median growth rate of 2011 Inc. 500/5000 companies remains an impressive 94 percent. The companies on this year's list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
"Fast growth at any time is a big achievement; fast growth during the past few years is just-short-of-miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of-miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Randy Bishop, Chief Executive Officer and Co-Founder of Verengo, commented, "This is an incredible milestone for our company and is testament to the unwavering commitment of each and every one of our employees who have helped shape Verengo into the trusted solar company it is today."
"We have hired over 300 employees this year alone and continue to hire more every day to meet our customer needs. It's wonderful to be able to hire at a tough economic time like this," said Verengo President and Co-Founder Ken Button.
ABOUT VERENGO SOLAR PLUS
Verengo Solar Plus is changing the way America thinks about solar! As the #1 residential solar integrator based in Southern California, Verengo offers comprehensive financial options and superior customer service, and consistently earns an A+ with the Better Business Bureau. Verengo has reduced carbon emissions through its solar power systems, accomplishing the equivalent of planting 120,000 acres of trees and taking more than 48,000 cars off the road, and saving homeowners $100 million in energy costs over the lifetime of Verengo's installed systems to date. For more information on Verengo Solar Plus, please visit www.VerengoSolar.com
FPL to reopen application period for 2011 solar rebate program at 8:30 a.m. Aug. 30
JUNO BEACH, Fla., Aug. 29, 2011 /PRNewswire/ -- Florida Power & Light Company is reopening the application period for its 2011 solar rebate program next week to distribute approximately $5 million in remaining funds. Customers who are interested in installing solar systems in their homes and businesses can apply at www.FPL.com/solarrebates starting at 8:30 a.m. on Tuesday, Aug. 30. Rebates will be available on a first-come, first-served basis, and funds are expected to run out quickly.
The solar rebate program is designed to help reduce energy consumption and peak demand and is part of a pilot project approved by the Florida Public Service Commission. The application process for the 2011 rebates first opened on Wednesday, June 29, and customers claimed reservations for the available solar PV funds in less than an hour. The company is reallocating funding based on strong consumer demand for solar PV funding and less strong demand for residential solar water heating within the FPL service territory during the initial pilot period. Rebates for solar water heating are still available, and interested customers do not need to wait until Aug. 30 to apply for those rebates.
"These incentives can help make investments in distributed renewable energy generation more affordable, and we are pleased that more of our customers will now be able to take advantage of the program this year," said Marlene Santos, FPL's vice president of customer service.
Customers who did not receive reservations in the first round can reapply as long as installation has not begun on their systems.
Updates on the amount of funding remaining for each program, as well as more information on the application process, are available at www.FPL.com/solarrebates.
Florida Power & Light Company
Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.
The solar rebate program is designed to help reduce energy consumption and peak demand and is part of a pilot project approved by the Florida Public Service Commission. The application process for the 2011 rebates first opened on Wednesday, June 29, and customers claimed reservations for the available solar PV funds in less than an hour. The company is reallocating funding based on strong consumer demand for solar PV funding and less strong demand for residential solar water heating within the FPL service territory during the initial pilot period. Rebates for solar water heating are still available, and interested customers do not need to wait until Aug. 30 to apply for those rebates.
"These incentives can help make investments in distributed renewable energy generation more affordable, and we are pleased that more of our customers will now be able to take advantage of the program this year," said Marlene Santos, FPL's vice president of customer service.
Customers who did not receive reservations in the first round can reapply as long as installation has not begun on their systems.
Updates on the amount of funding remaining for each program, as well as more information on the application process, are available at www.FPL.com/solarrebates.
Florida Power & Light Company
Florida Power & Light Company is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. FPL serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees. The company consistently outperforms national averages for service reliability while customer bills are below the national average. A clean energy leader, FPL has one of the lowest emissions profiles and one of the leading energy efficiency programs among utilities nationwide. FPL is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.FPL.com.
NextEra Energy Resources' Subsidiary Closes on $935 Million Financing and Secures a DOE Loan Guarantee for its Genesis Solar Project
JUNO BEACH, Fla., Aug. 29, 2011 /PRNewswire-FirstCall/ -- NextEra Energy Resources, LLC, announced that its subsidiary, Genesis Solar, LLC, has closed on construction and term financing consisting of $702 million in project bonds, a $150 million project term loan facility and an $83 million project letter of credit facility. The U.S. Department of Energy has provided a loan guarantee of 80 percent of the principal and interest on the project bonds and project term loan under its Financial Institution Partnership Program. Proceeds from the financing will be used primarily for the construction of the Genesis project, a 250-megawatt utility-scale concentrating solar thermal generating facility featuring proven parabolic trough solar thermal technology, located in Riverside County, Calif.
"This financing marks a significant milestone in the development of the Genesis project," said Armando Pimentel, executive vice president and chief financial officer of NextEra Energy, Inc., the parent of NextEra Energy Resources. "We are very pleased with both the strong investor reception for this financing, which we view as a validation of our solar development efforts, and the receipt of a loan guarantee from the Department of Energy Loan Programs Office."
Credit Suisse served as the lender applicant for the loan guarantee, the initial purchaser of the project bonds and the lender under the project term loan facility. Banco Bilbao Vizcaya Argentaria provided the letter of credit facility.
The securities offered have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
"This financing marks a significant milestone in the development of the Genesis project," said Armando Pimentel, executive vice president and chief financial officer of NextEra Energy, Inc., the parent of NextEra Energy Resources. "We are very pleased with both the strong investor reception for this financing, which we view as a validation of our solar development efforts, and the receipt of a loan guarantee from the Department of Energy Loan Programs Office."
Credit Suisse served as the lender applicant for the loan guarantee, the initial purchaser of the project bonds and the lender under the project term loan facility. Banco Bilbao Vizcaya Argentaria provided the letter of credit facility.
The securities offered have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Real Goods Solar Introduces PowerSavings™ Plan
SAN RAFAEL, Calif., Aug. 29, 2011 /PRNewswire/ -- National solar powerhouse Real Goods Solar recently introduced new financing and purchasing options available to homeowners throughout California and Colorado that offer all of the benefits of solar power typically with no upfront investment. The new Real Goods Solar PowerSavings™ Plan provides flexibility that makes going solar easier and more affordable then ever before. Unlike other power purchase programs currently on the market, it gives homeowners an affordable option to own the system after six years. A typical homeowner can now add solar to their home for no money down and pay less monthly than their current electric bill.
According to the U.S. Energy Information Administration (USEIA), while solar energy use is on the rise in the United States, it still makes up less than 1% of total energy produced. Cost is often cited as one of the key reasons U.S. consumers are resistant to embracing renewable energy. Growing awareness about proven, off-the-shelf technology concerns about rising fossil fuel costs, energy security and supplies, coupled with Real Goods' new PowerSavings Plan, mean that deployment of solar energy will likely expand significantly in the country.
"It is more affordable than ever for homeowners to go green with solar power," said John Schaeffer, Founder Residential President of Real Goods Solar, "By having options that allow residential customers to live a more sustainable lifestyle with solar power with zero cash outlay, we are eliminating cost as a hurdle for homeowners looking to reduce their carbon footprint and their dependence on fossil fuels. With lower utility bills and zero money down, going solar is a no brainer."
According to the U.S. Energy Information Administration (USEIA), while solar energy use is on the rise in the United States, it still makes up less than 1% of total energy produced. Cost is often cited as one of the key reasons U.S. consumers are resistant to embracing renewable energy. Growing awareness about proven, off-the-shelf technology concerns about rising fossil fuel costs, energy security and supplies, coupled with Real Goods' new PowerSavings Plan, mean that deployment of solar energy will likely expand significantly in the country.
"It is more affordable than ever for homeowners to go green with solar power," said John Schaeffer, Founder Residential President of Real Goods Solar, "By having options that allow residential customers to live a more sustainable lifestyle with solar power with zero cash outlay, we are eliminating cost as a hurdle for homeowners looking to reduce their carbon footprint and their dependence on fossil fuels. With lower utility bills and zero money down, going solar is a no brainer."
Alex Solar Invests in 8 MW Solar Park in Potsdam Friedrich Park
SHANGHAI, Aug.29, 2011 /PRNewswire-Asia/ -- Mr. Alex Zhang (Zhang Lianwen), President of Alex Solar (manufacturer of high quality solar products), invests in an area of 200,000 square meters of open space for the local largest solar power plant in Potsdam, Berlin. The 8 MW power plant can supply up to 4270 households with clean electricity and ensure reduction of 143 360 tons of CO2 emissions. The project comes into fold with the support from government agencies, banks, planners, and other stakeholders. In addition to the generation of electricity from the solar plant, the project will be utilized as a photovoltaic information and training center. Alex Solar is investing in several solar projects in Berlin and Munich and aims to become the best green energy solution provider globally.
About Alex Solar
Alex Solar was founded in 2007 by HY group (New Zealand) and Shanghai Hua Yi Electricity Group. Alex consists of Shanghai Alex New Energy Co., Ltd. and Shanghai Alex Solar Energy Science & Technology Co., Ltd. Alex Solar is a high-tech enterprise engaged in the research and development, manufacture, sales, and technical support of crystalline silicon solar modules and solar cells, photovoltaic application systems, and other relevant solar products. It is committed to providing the highest quality products and superior customer service. Company headquarters and production center is located in the Fengxian District of Shanghai and its facilities cover an area of over 200,000 square meters. Alex's global sales offices are located in the USA, Germany, France and Italy. Alex Solar currently has a vertically integrated annual production capacity of 600MW with a target to reach 1GW by the end of 2011.
About Alex Solar
Alex Solar was founded in 2007 by HY group (New Zealand) and Shanghai Hua Yi Electricity Group. Alex consists of Shanghai Alex New Energy Co., Ltd. and Shanghai Alex Solar Energy Science & Technology Co., Ltd. Alex Solar is a high-tech enterprise engaged in the research and development, manufacture, sales, and technical support of crystalline silicon solar modules and solar cells, photovoltaic application systems, and other relevant solar products. It is committed to providing the highest quality products and superior customer service. Company headquarters and production center is located in the Fengxian District of Shanghai and its facilities cover an area of over 200,000 square meters. Alex's global sales offices are located in the USA, Germany, France and Italy. Alex Solar currently has a vertically integrated annual production capacity of 600MW with a target to reach 1GW by the end of 2011.
Monday, August 29, 2011
MEMC Launches Exchange Offer for 7.750% Senior Notes Due 2019
ST. PETERS, Mo., Aug. 29, 2011 /PRNewswire/ -- MEMC Electronic Materials, Inc. (NYSE: WFR) today announced that it has commenced an offer to exchange any and all of its outstanding $550,000,000 aggregate principal amount of 7.750% Senior Notes due 2019 (the "outstanding notes") for a like principal amount of new 7.750% Senior Notes due 2019 (the "exchange notes") which have been registered under the Securities Act of 1933, as amended (the "Securities Act") pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. The outstanding notes were originally issued on March 10, 2011 in a private placement exempt from the registration requirements of the Securities Act. Holders of these notes may exchange them for an equal principal amount of exchange notes.
Terms of the exchange notes are substantially identical to those of the original notes, except that the transfer restrictions and registration rights relating to the original notes do not apply to the exchange notes. Any notes not tendered will remain outstanding and continue to accrue interest. The exchange offer is being conducted to satisfy MEMC's obligations under the terms of a registration rights agreement entered into in connection with the initial issuance of the outstanding notes, and does not represent a new financing transaction. MEMC will not receive any proceeds from the exchange offer.
The exchange offer will expire at 5:00 p.m., New York City time, on September 28, 2011, unless extended or terminated. Tenders of outstanding notes must be properly made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires.
Terms of the exchange notes are substantially identical to those of the original notes, except that the transfer restrictions and registration rights relating to the original notes do not apply to the exchange notes. Any notes not tendered will remain outstanding and continue to accrue interest. The exchange offer is being conducted to satisfy MEMC's obligations under the terms of a registration rights agreement entered into in connection with the initial issuance of the outstanding notes, and does not represent a new financing transaction. MEMC will not receive any proceeds from the exchange offer.
The exchange offer will expire at 5:00 p.m., New York City time, on September 28, 2011, unless extended or terminated. Tenders of outstanding notes must be properly made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires.
Etrion Completes 10 MW Solar Project in Italy
GENEVA--(BUSINESS WIRE)--Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), an independent solar power producer, announces the completion of the Helios ITA-3 solar project in Puglia, Italy.
The Helios ITA-3 solar project has a total capacity of 10 megawatts (“MW”) and is expected to produce 16.8 million kilowatt hours (“kWh”) of clean electricity and 5.0 million euros of earnings before interest, taxes, depreciation and amortization (“EBITDA”) per year.
The project is expected to benefit from the feed-in-tariff (“FiT”) of 0.25 euros per kWh plus a market price of approximately 0.08 euros per kWh.
The Italian FiT is a premium purchase price for solar electricity that is guaranteed by the Italian government for 20 years from the start of operations.
The Helios ITA-3 project includes two 5 MW ground-mounted solar photovoltaic (“PV”) parks, Brindisi and Mesagne. Both parks were built by ABB using Yingli poly-crystalline PV modules mounted on SunPower single axis trackers with Bonfiglioli inverters.
A syndicate of banks, including Natixis, WestLB and Mediocreval, provided 80% of the financing for the project with an 18-year, non-recourse loan.
Marco Northland, the Company’s CEO, commented, “We completed the Helios ITA-3 parks ahead of schedule and under budget thanks to the hard work of our superb local team, our contractors and the local utility, Enel. Etrion now has a fully-funded, operational solar portfolio of 60 MW in Italy with significant cash flow. We continue to review opportunities for growth in Italy and abroad.”
The Helios ITA-3 solar project has a total capacity of 10 megawatts (“MW”) and is expected to produce 16.8 million kilowatt hours (“kWh”) of clean electricity and 5.0 million euros of earnings before interest, taxes, depreciation and amortization (“EBITDA”) per year.
The project is expected to benefit from the feed-in-tariff (“FiT”) of 0.25 euros per kWh plus a market price of approximately 0.08 euros per kWh.
The Italian FiT is a premium purchase price for solar electricity that is guaranteed by the Italian government for 20 years from the start of operations.
The Helios ITA-3 project includes two 5 MW ground-mounted solar photovoltaic (“PV”) parks, Brindisi and Mesagne. Both parks were built by ABB using Yingli poly-crystalline PV modules mounted on SunPower single axis trackers with Bonfiglioli inverters.
A syndicate of banks, including Natixis, WestLB and Mediocreval, provided 80% of the financing for the project with an 18-year, non-recourse loan.
Marco Northland, the Company’s CEO, commented, “We completed the Helios ITA-3 parks ahead of schedule and under budget thanks to the hard work of our superb local team, our contractors and the local utility, Enel. Etrion now has a fully-funded, operational solar portfolio of 60 MW in Italy with significant cash flow. We continue to review opportunities for growth in Italy and abroad.”
LDK Solar Reports Financial Results for Second Quarter of Fiscal 2011
XINYU CITY, China and SUNNYVALE, Calif., Aug. 29, 2011 /PRNewswire/ -- LDK Solar Co., Ltd. ("LDK Solar"; NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic products, today reported its unaudited financial results for the second quarter ended June 30, 2011.
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
Second Quarter Highlights:
Net sales for the second quarter of fiscal 2011 were $499.4 million, compared to $766.3 million for the first quarter of fiscal 2011, and $565.3 million for the second quarter of fiscal 2010.
Gross profit for the second quarter of fiscal 2011, was $11.0 million, compared to $241.6 million in the first quarter of fiscal 2011, and $101.8 million for the second quarter of fiscal 2010.
During the preparation of its second quarter 2011 financial results, LDK Solar's management determined that an inventory write-down of $52.9 million was required as a result of the significant drop in market price for wafers and modules during the second quarter. As a result, gross margin and results from operations were negatively impacted in the second quarter of fiscal 2011.
Gross margin for the second quarter of fiscal 2011 was 2.2%, compared to 31.5% in the first quarter of fiscal 2011 and 18.0% in the second quarter of fiscal 2010.
Loss from operations for the second quarter of fiscal 2011 was $47.9 million, compared to income from operations of $196.1 million for the first quarter of fiscal 2011, and $78.6 million for the second quarter of fiscal 2010.
Operating margin for the second quarter of fiscal 2011 was negative 9.6% compared to positive 25.6% in the first quarter of fiscal 2011 and 13.9% in the second quarter of fiscal 2010.
Income tax expense for the second quarter of fiscal 2011 was $6.7 million, compared to income tax expense of $44.2 million in the first quarter of fiscal 2011 and income tax expense of $7.7 million in the second quarter of fiscal 2010.
Net loss attributable to LDK Solar's shareholders for the second quarter of fiscal 2011 was $87.7 million, or a loss of $0.62 per diluted ADS, compared to net income of $135.4 million, or $0.95 per diluted ADS for the first quarter of fiscal 2011 and $45.0 million, or $0.36 per diluted ADS for the second quarter of fiscal 2010. The number of shares for calculating diluted ADS was approximately 140.7 million for the second quarter of fiscal 2011.
LDK Solar ended the second quarter of fiscal 2011 with $636.4 million in cash and cash equivalents and $515.3 million in short-term pledged bank deposits.
"Our second quarter results reflect the challenging solar industry dynamics that resulted from recent policy revisions in Europe and consequently reduced demand for PV products," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "Lower pricing across the supply chain negatively impacted our financial results for the quarter.
"In recent weeks, we have seen average selling prices begin to stabilize and improvement to order patterns. We have continued to gain traction in expanding our presence in key markets such as North America and China. In the U.S., our recently established sales and marketing operation has already begun to gain traction in winning large module contracts. In China, we are encouraged by the announcement of the unified national feed-in-tariff program. We have an established, strong market position in our domestic market and see significant long-term growth opportunities.
"We are actively taking steps to improve our cost structure and strengthen our balance sheet. We continue to make progress on lowering our manufacturing costs as we gain scale in our newer PV product areas such as solar cells. Going forward, based on our current pipeline of business, we believe growth will resume in the second half of 2011," concluded Mr. Peng.
Business Outlook
The following statements are based upon management's current expectations. These statements are forward-looking in nature, and the actual results may differ materially. You should read the "Safe Harbor Statement" below with respect to the risks and uncertainties relating to these forward-looking statements.
For the third quarter of fiscal 2011, LDK Solar estimates its revenue to be in the range of $630 million to $680 million with wafer shipments between 350 MW and 400 MW, and module shipments between 250 MW and 300 MW, in-house polysilicon production between 2,600 MT and 2,700 MT, in-house cell production between 200 MW and 220 MW and gross margin between 11% and 16%.
For fiscal 2011, LDK Solar estimates its revenue to be in the range of $2.5 to $2.7 billion, wafer shipments between 1.8 gigawatts (GW) and 2.0 GW, module shipments between 750 MW and 800 MW, in-house polysilicon production between 10,000 MT and 11,000 MT, in-house cell production between 600 MW and 700 MW and gross margin between 15% and 20%.
Conference Call Details
The LDK Solar Second Quarter 2011 teleconference and webcast is scheduled to begin at 8:00 a.m. Eastern Time (ET), on August 29, 2011. To listen to the live conference call, please dial 877-941-1427 (within U.S.) or 480-629-9664 (outside U.S.) at 8:00 a.m. ET on August 29, 2011. An audio replay of the call will be available through September 5, 2011, by dialing 800-406-7325 (within U.S.) or 303-590-3030 (outside U.S.) and entering the pass code 4463854#.
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
Second Quarter Highlights:
- Net sales of $499.4 million, a decrease of 34.8% sequentially and a decrease of 11.6% year-over-year;
- Shipped 429.2 MW of wafers, 79.4 MW of modules in the second quarter;
- Produced a total of approximately 2,774 MT of polysilicon during the second quarter; and
- Produced a total of approximately 123 MW of cells during the second quarter
Net sales for the second quarter of fiscal 2011 were $499.4 million, compared to $766.3 million for the first quarter of fiscal 2011, and $565.3 million for the second quarter of fiscal 2010.
Gross profit for the second quarter of fiscal 2011, was $11.0 million, compared to $241.6 million in the first quarter of fiscal 2011, and $101.8 million for the second quarter of fiscal 2010.
During the preparation of its second quarter 2011 financial results, LDK Solar's management determined that an inventory write-down of $52.9 million was required as a result of the significant drop in market price for wafers and modules during the second quarter. As a result, gross margin and results from operations were negatively impacted in the second quarter of fiscal 2011.
Gross margin for the second quarter of fiscal 2011 was 2.2%, compared to 31.5% in the first quarter of fiscal 2011 and 18.0% in the second quarter of fiscal 2010.
Loss from operations for the second quarter of fiscal 2011 was $47.9 million, compared to income from operations of $196.1 million for the first quarter of fiscal 2011, and $78.6 million for the second quarter of fiscal 2010.
Operating margin for the second quarter of fiscal 2011 was negative 9.6% compared to positive 25.6% in the first quarter of fiscal 2011 and 13.9% in the second quarter of fiscal 2010.
Income tax expense for the second quarter of fiscal 2011 was $6.7 million, compared to income tax expense of $44.2 million in the first quarter of fiscal 2011 and income tax expense of $7.7 million in the second quarter of fiscal 2010.
Net loss attributable to LDK Solar's shareholders for the second quarter of fiscal 2011 was $87.7 million, or a loss of $0.62 per diluted ADS, compared to net income of $135.4 million, or $0.95 per diluted ADS for the first quarter of fiscal 2011 and $45.0 million, or $0.36 per diluted ADS for the second quarter of fiscal 2010. The number of shares for calculating diluted ADS was approximately 140.7 million for the second quarter of fiscal 2011.
LDK Solar ended the second quarter of fiscal 2011 with $636.4 million in cash and cash equivalents and $515.3 million in short-term pledged bank deposits.
"Our second quarter results reflect the challenging solar industry dynamics that resulted from recent policy revisions in Europe and consequently reduced demand for PV products," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "Lower pricing across the supply chain negatively impacted our financial results for the quarter.
"In recent weeks, we have seen average selling prices begin to stabilize and improvement to order patterns. We have continued to gain traction in expanding our presence in key markets such as North America and China. In the U.S., our recently established sales and marketing operation has already begun to gain traction in winning large module contracts. In China, we are encouraged by the announcement of the unified national feed-in-tariff program. We have an established, strong market position in our domestic market and see significant long-term growth opportunities.
"We are actively taking steps to improve our cost structure and strengthen our balance sheet. We continue to make progress on lowering our manufacturing costs as we gain scale in our newer PV product areas such as solar cells. Going forward, based on our current pipeline of business, we believe growth will resume in the second half of 2011," concluded Mr. Peng.
Business Outlook
The following statements are based upon management's current expectations. These statements are forward-looking in nature, and the actual results may differ materially. You should read the "Safe Harbor Statement" below with respect to the risks and uncertainties relating to these forward-looking statements.
For the third quarter of fiscal 2011, LDK Solar estimates its revenue to be in the range of $630 million to $680 million with wafer shipments between 350 MW and 400 MW, and module shipments between 250 MW and 300 MW, in-house polysilicon production between 2,600 MT and 2,700 MT, in-house cell production between 200 MW and 220 MW and gross margin between 11% and 16%.
For fiscal 2011, LDK Solar estimates its revenue to be in the range of $2.5 to $2.7 billion, wafer shipments between 1.8 gigawatts (GW) and 2.0 GW, module shipments between 750 MW and 800 MW, in-house polysilicon production between 10,000 MT and 11,000 MT, in-house cell production between 600 MW and 700 MW and gross margin between 15% and 20%.
Conference Call Details
The LDK Solar Second Quarter 2011 teleconference and webcast is scheduled to begin at 8:00 a.m. Eastern Time (ET), on August 29, 2011. To listen to the live conference call, please dial 877-941-1427 (within U.S.) or 480-629-9664 (outside U.S.) at 8:00 a.m. ET on August 29, 2011. An audio replay of the call will be available through September 5, 2011, by dialing 800-406-7325 (within U.S.) or 303-590-3030 (outside U.S.) and entering the pass code 4463854#.
SunPower Signs 24-Megawatt Supply Agreement With Akuo Solar
SAN JOSE, Calif., Aug. 29, 2011 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWRA, SPWRB), a Silicon Valley manufacturer of high-efficiency solar cells, solar panels and solar systems, announced today that Akuo Solar, a subsidiary of Paris-based Akuo Energy, has ordered 75,000 high efficiency SunPower solar panels for Akuo's planned 24-megawatt solar development. The development consists of two power plants that will be located in the Provence-Alps-Cotes d'Azur Region in the South of France.
The SunPower™ E19/320 watt high efficiency solar panels will be integrated into fixed-tilt, ground mounted systems for both power plants. Construction has begun and is expected to be completed before the end of 2011. When combined, the solar power plants are expected to generate about 36 gigawatt hours of electricity annually.
"We have partnered with SunPower in the past and are pleased to work with them again on this project," said Romain Forest, managing director at Akuo Solar. "With 1.7 gigawatts of solar deployed worldwide, SunPower's proven track record in terms of panel performance and reliability will allow us to maximize the amount of installed peak power while using less land, and also contribute to the environment with an annual carbon footprint reduction."
"SunPower delivers the highest efficiency, most reliable solar panels on the market today, which makes us ideally suited for Akuo's new development in the South of France," said Howard Wenger, president of SunPower's utility and power plants business group. "Large projects with top tier companies such as Akuo will continue to position SunPower as a global leader for residential, commercial and power plant markets."
Akuo Energy is a French independent power producer specializing in developing, financing and operating power plants from renewable resources and has partnered to date with SunPower on projects exceeding 30 megawatts. Akuo Energy has offices in Continental France, Corsica, Italy, Uruguay, Turkey, Reunion Island, French Caribean Islands, Poland, Croatia, Bulgaria, Morocco and the U.S.
The SunPower™ E19/320 watt high efficiency solar panels will be integrated into fixed-tilt, ground mounted systems for both power plants. Construction has begun and is expected to be completed before the end of 2011. When combined, the solar power plants are expected to generate about 36 gigawatt hours of electricity annually.
"We have partnered with SunPower in the past and are pleased to work with them again on this project," said Romain Forest, managing director at Akuo Solar. "With 1.7 gigawatts of solar deployed worldwide, SunPower's proven track record in terms of panel performance and reliability will allow us to maximize the amount of installed peak power while using less land, and also contribute to the environment with an annual carbon footprint reduction."
"SunPower delivers the highest efficiency, most reliable solar panels on the market today, which makes us ideally suited for Akuo's new development in the South of France," said Howard Wenger, president of SunPower's utility and power plants business group. "Large projects with top tier companies such as Akuo will continue to position SunPower as a global leader for residential, commercial and power plant markets."
Akuo Energy is a French independent power producer specializing in developing, financing and operating power plants from renewable resources and has partnered to date with SunPower on projects exceeding 30 megawatts. Akuo Energy has offices in Continental France, Corsica, Italy, Uruguay, Turkey, Reunion Island, French Caribean Islands, Poland, Croatia, Bulgaria, Morocco and the U.S.
Friday, August 26, 2011
TGI Solar (TSPG) CEO Updates on Current Company Developments
RED BANK, N.J., Aug. 26, 2011 /PRNewswire/ -- TGI Group's (PINK SHEETS: TSPG) CEO Henry Val updated the public on the current developments as the company undergoes significant corporate changes.
TGI Solar is proceeding with asset sales and continues its mission to focus on its core business in alternative energy.
Regarding the sale of Edgetech, the process is well underway, and the management expects to announce the definitive agreement regarding this sale in short time. The delay regarding the sale provided extra benefits for TGI Solar which of the company was not aware during the initial due diligence of the sale.
Regarding other assets, the management seeks the best way of executing their divestiture, with the goal of not infringing on the company creditors and others alike, and deliver the greatest possible worth to the company.
Following the sale of these assets, the company will focus on the renewable energy sector, not limited to possible mergers, if suitable opportunity presents itself. Besides that, the company will be focusing on organic growth.
Besides the major corporate changes, TGI continues to pursue its International interests in the Philippines, and the opportunity in South America to produce solar panels (Updates on this deal will be made available once specific advances are made).
TGI Solar's priority lies in the improvement of TSPG's share price, addressing the current unfavorable share price, debt restructuring, paying down debt, asset sale of non-core assets, and company growth.
To dismiss all rumors, TGI management confirmed that there is no plan for any form of a stock split whatsoever.
More details on progress of all corporate and business matter to follow shortly.
TGI Solar is proceeding with asset sales and continues its mission to focus on its core business in alternative energy.
Regarding the sale of Edgetech, the process is well underway, and the management expects to announce the definitive agreement regarding this sale in short time. The delay regarding the sale provided extra benefits for TGI Solar which of the company was not aware during the initial due diligence of the sale.
Regarding other assets, the management seeks the best way of executing their divestiture, with the goal of not infringing on the company creditors and others alike, and deliver the greatest possible worth to the company.
Following the sale of these assets, the company will focus on the renewable energy sector, not limited to possible mergers, if suitable opportunity presents itself. Besides that, the company will be focusing on organic growth.
Besides the major corporate changes, TGI continues to pursue its International interests in the Philippines, and the opportunity in South America to produce solar panels (Updates on this deal will be made available once specific advances are made).
TGI Solar's priority lies in the improvement of TSPG's share price, addressing the current unfavorable share price, debt restructuring, paying down debt, asset sale of non-core assets, and company growth.
To dismiss all rumors, TGI management confirmed that there is no plan for any form of a stock split whatsoever.
More details on progress of all corporate and business matter to follow shortly.
REC Solar and Fresh & Easy Neighborhood Market Unveil 536 kW of Solar Power
PHOENIX--(BUSINESS WIRE)--REC Solar, a leading provider of home and commercial solar electric systems in the United States, today unveiled a 39-kilowatt installation at the Fresh & Easy Neighborhood market on Glendale Avenue in Phoenix. Local politicians and solar advocates were on hand at a flip-the-switch event, which celebrated the completion of solar systems REC Solar installed on Fresh & Easy stores in Arizona and California totaling nearly 536 kilowatts. The systems will produce 746,000 kilowatt-hours (kWh) of electricity annually to meet approximately 20 percent of the stores’ energy production needs — equivalent to reducing 26 million pounds of greenhouse gas emissions, or eliminating 38 million miles driven by cars over the next 25 years.
"I am excited to see Fresh & Easy's commitment to sustainability, District 5 and the City of Phoenix. I especially appreciate their choosing a District 5 store for this renewable energy program and I applaud their corporate commitment to our environment,” said District 5 Councilman Claude Mattox. “This announcement today demonstrates once again that Phoenix and the entire state is becoming a leader in solar technology."
REC Solar installed roof-mounted solar systems on 10 stores throughout the greater Phoenix metro area, including stores in Chandler, Gilbert, Mesa and Avondale, Arizona. The systems feature REC Peak Energy Series Panels, from global solar panel manufacturing leader, REC Group.
“Through participation in the SRP EarthWise Solar Energy Incentive Program, Fresh & Easy has become one of our greenest grocery store chains,” said Lori Singleton, Manager of Sustainable Initiatives and Technologies. “More businesses in Arizona are seeing the value of investing in solar energy and we are proud to be a part of that.
”REC Group is proud to have supplied solar panels for this project. Fresh & Easy is a great example of how a company with vision can make a difference for everyone,” said Marius Kroksjø, the Regional Director USA for REC Group. “With selecting REC Peak Energy panels for their installations, Fresh & Easy shows that they have chosen not only a source of clean energy, but one that was produced with the lightest carbon footprint possible.”
Additionally, each of the 10 stores features an in-store display that reports real-time solar energy production at the store while explaining how solar systems work to store customers. On average, Fresh & Easy stores use 30 percent less energy than a typical supermarket. Fresh & Easy has also worked to reduce emissions and has the most currently certified stores through the EPA’s GreenChill program.
“Fresh & Easy’s commitment to the environment is not just about reducing our carbon footprint, but also about saving money that we pass on to our customers,” said Tim Mason, president and CEO of Fresh & Easy. “These solar panels will provide about 20% of our store’s energy needs at more than one-third of our Arizona stores.”
“Partnerships with innovative and forward-thinking companies like Fresh & Easy are critical to expanding the solar market in the United States and bringing solar into the mainstream,” said REC Solar CEO Angiolo Laviziano. “The projects as a whole demonstrate that a large number of smaller individual store rooftops can add up to significant operating savings.”
About Fresh & Easy Neighborhood Market
Fresh & Easy operates 177 stores in California, Arizona and Nevada. In addition to wholesome, fresh prepared meals, meats and produce, Fresh & Easy offers everyone’s favorite national brand products and household items, all at unbelievably low prices. The grocer’s popular fresh&easy brand products contain no artificial colors, flavors or added trans fats and use preservatives only when absolutely necessary.
For more information about Fresh & Easy, visit www.freshandeasy.com. Also follow the company on Twitter at: www.twitter.com/freshandeasy and become a fan on Facebook at www.facebook.com/freshandeasy.
About REC Solar
REC Solar is an industry leading solar power provider specializing in grid-tied residential and commercial installations. With a local presence in all major solar markets in the USA and thousands of kilowatts installed, REC Solar is committed to lowering the cost of solar power through efficient processes, innovative products and outstanding customer service. REC Solar has more than a dozen offices in six states (California, Colorado, Hawaii, Oregon, Arizona and New Jersey). For additional information on REC Solar visit www.recsolar.com or call 1-888-OK-SOLAR (888-657-6527).
"I am excited to see Fresh & Easy's commitment to sustainability, District 5 and the City of Phoenix. I especially appreciate their choosing a District 5 store for this renewable energy program and I applaud their corporate commitment to our environment,” said District 5 Councilman Claude Mattox. “This announcement today demonstrates once again that Phoenix and the entire state is becoming a leader in solar technology."
REC Solar installed roof-mounted solar systems on 10 stores throughout the greater Phoenix metro area, including stores in Chandler, Gilbert, Mesa and Avondale, Arizona. The systems feature REC Peak Energy Series Panels, from global solar panel manufacturing leader, REC Group.
“Through participation in the SRP EarthWise Solar Energy Incentive Program, Fresh & Easy has become one of our greenest grocery store chains,” said Lori Singleton, Manager of Sustainable Initiatives and Technologies. “More businesses in Arizona are seeing the value of investing in solar energy and we are proud to be a part of that.
”REC Group is proud to have supplied solar panels for this project. Fresh & Easy is a great example of how a company with vision can make a difference for everyone,” said Marius Kroksjø, the Regional Director USA for REC Group. “With selecting REC Peak Energy panels for their installations, Fresh & Easy shows that they have chosen not only a source of clean energy, but one that was produced with the lightest carbon footprint possible.”
Additionally, each of the 10 stores features an in-store display that reports real-time solar energy production at the store while explaining how solar systems work to store customers. On average, Fresh & Easy stores use 30 percent less energy than a typical supermarket. Fresh & Easy has also worked to reduce emissions and has the most currently certified stores through the EPA’s GreenChill program.
“Fresh & Easy’s commitment to the environment is not just about reducing our carbon footprint, but also about saving money that we pass on to our customers,” said Tim Mason, president and CEO of Fresh & Easy. “These solar panels will provide about 20% of our store’s energy needs at more than one-third of our Arizona stores.”
“Partnerships with innovative and forward-thinking companies like Fresh & Easy are critical to expanding the solar market in the United States and bringing solar into the mainstream,” said REC Solar CEO Angiolo Laviziano. “The projects as a whole demonstrate that a large number of smaller individual store rooftops can add up to significant operating savings.”
About Fresh & Easy Neighborhood Market
Fresh & Easy operates 177 stores in California, Arizona and Nevada. In addition to wholesome, fresh prepared meals, meats and produce, Fresh & Easy offers everyone’s favorite national brand products and household items, all at unbelievably low prices. The grocer’s popular fresh&easy brand products contain no artificial colors, flavors or added trans fats and use preservatives only when absolutely necessary.
For more information about Fresh & Easy, visit www.freshandeasy.com. Also follow the company on Twitter at: www.twitter.com/freshandeasy and become a fan on Facebook at www.facebook.com/freshandeasy.
About REC Solar
REC Solar is an industry leading solar power provider specializing in grid-tied residential and commercial installations. With a local presence in all major solar markets in the USA and thousands of kilowatts installed, REC Solar is committed to lowering the cost of solar power through efficient processes, innovative products and outstanding customer service. REC Solar has more than a dozen offices in six states (California, Colorado, Hawaii, Oregon, Arizona and New Jersey). For additional information on REC Solar visit www.recsolar.com or call 1-888-OK-SOLAR (888-657-6527).
Thursday, August 25, 2011
Intevac to Participate in the 26th European Photovoltaic Solar Energy Conference and Exhibition
SANTA CLARA, Calif.--(BUSINESS WIRE)--Intevac, Inc. (Nasdaq:IVAC) announced today that the company will participate in the EU PVSEC, taking place September 5th through 9th in Hamburg, Germany. Intevac will showcase its revolutionary high-value equipment solutions for the solar industry.
Intevac offers a suite of process technology solutions on the high-throughput Lean Solar™ platform. The in-line processing system offers precise process control and can be configured for PVD, etch and ion implant applications for solar cell manufacturing.
Intevac will take the opportunity at EU PVSEC to introduce a high productivity, small footprint implant module which enables increased cell efficiency, technology extendibility and lower costs.
Intevac will also feature NanoVista™, a high-sensitivity photoluminescence inspection system for cell quality and efficiency monitoring that captures high resolution images of both as-cut and in-process cells at up to 3,600 cells per hour.
Intevac will take part in the Visual Presentation Program and will present on both Ion Implantation and Image Processing Techniques on Tuesday, September 6th from 8:30 to 10:00 a.m. and on Wednesday, September 7th, from 1:30 to 3:00 p.m. in the CCH Congress Centre, Halls 3 and 4 on the Ground Level.
Intevac Booth C32 will be located in Hall A1 at the International Fair, Hamburg, Germany, Monday through Thursday, from 9 a.m. to 6 p.m.
About EU PVSEC
The European Photovoltaic Solar Energy Conference and Exhibition is the leading science-to-science, business-to-business and science-to-industry forum for the global PV solar energy sector. The show expects over 950 exhibitors and more than 40,000 trade visitors from 100 countries in Hamburg’s International Fair Hamburg from September 5th through 8th, and CCH Congress Centre from September 5th through 9th. www.photovoltaic-conference.com
About Intevac
Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics.
Equipment Business: We are a leader in the design, development and marketing of high productivity lean manufacturing systems and have been producing Lean Thinking platforms since 1994. We provide process manufacturing equipment solutions to the hard disk drive industry, high-productivity process manufacturing equipment and inspection solutions to the solar photovoltaic industry and wafer handling platforms to the semiconductor industry.
Intevac Photonics: We are a leader in the development and manufacture of leading edge, high-sensitivity imaging products and vision systems, as well as table-top and handheld Raman instruments. Markets addressed include military, industrial, medical and scientific.
For more information call 408-986-9888, or visit the company's website at www.intevac.com.
LEAN SOLAR and NanoVista are trademarks of Intevac, Inc.
Intevac offers a suite of process technology solutions on the high-throughput Lean Solar™ platform. The in-line processing system offers precise process control and can be configured for PVD, etch and ion implant applications for solar cell manufacturing.
Intevac will take the opportunity at EU PVSEC to introduce a high productivity, small footprint implant module which enables increased cell efficiency, technology extendibility and lower costs.
Intevac will also feature NanoVista™, a high-sensitivity photoluminescence inspection system for cell quality and efficiency monitoring that captures high resolution images of both as-cut and in-process cells at up to 3,600 cells per hour.
Intevac will take part in the Visual Presentation Program and will present on both Ion Implantation and Image Processing Techniques on Tuesday, September 6th from 8:30 to 10:00 a.m. and on Wednesday, September 7th, from 1:30 to 3:00 p.m. in the CCH Congress Centre, Halls 3 and 4 on the Ground Level.
Intevac Booth C32 will be located in Hall A1 at the International Fair, Hamburg, Germany, Monday through Thursday, from 9 a.m. to 6 p.m.
About EU PVSEC
The European Photovoltaic Solar Energy Conference and Exhibition is the leading science-to-science, business-to-business and science-to-industry forum for the global PV solar energy sector. The show expects over 950 exhibitors and more than 40,000 trade visitors from 100 countries in Hamburg’s International Fair Hamburg from September 5th through 8th, and CCH Congress Centre from September 5th through 9th. www.photovoltaic-conference.com
About Intevac
Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics.
Equipment Business: We are a leader in the design, development and marketing of high productivity lean manufacturing systems and have been producing Lean Thinking platforms since 1994. We provide process manufacturing equipment solutions to the hard disk drive industry, high-productivity process manufacturing equipment and inspection solutions to the solar photovoltaic industry and wafer handling platforms to the semiconductor industry.
Intevac Photonics: We are a leader in the development and manufacture of leading edge, high-sensitivity imaging products and vision systems, as well as table-top and handheld Raman instruments. Markets addressed include military, industrial, medical and scientific.
For more information call 408-986-9888, or visit the company's website at www.intevac.com.
LEAN SOLAR and NanoVista are trademarks of Intevac, Inc.
GT Advanced Technologies Acquires Confluence Solar, Inc., Developer of Innovative Continuous Czochralski Growth Process
MERRIMACK, N.H.--(BUSINESS WIRE)--GT Advanced Technologies Inc., (NASDAQ: GTAT), today announced that it has acquired privately-held Confluence Solar, Inc., the developer of HiCz™, a continuously-fed Czochralski (CCz) growth technology, that enables the production of high efficiency monocrystalline solar ingots, which is expected to lower production costs.
The purchase price consisted of $60 million in cash paid to Confluence Solar’s shareholders at closing and an additional $20 million of cash earn-outs payable upon the achievement of certain financial and technical milestones through GT’s FY13. Investors in Confluence Solar include Convexa Capital, OCI and Oceanshore Investors.
Inclusive of incremental R&D and capital investments to accelerate GT’s time to market with a CCz product, the acquisition is expected to become accretive in the second half of GT’s FY13. The company indicated that the acquisition will eliminate certain previously planned organic development costs in both fiscal 2012 and 2013 which, when netted against the costs incurred in the acquired business, will make the acquisition additionally accretive in fiscal 2013.
“This acquisition adds an innovative technology to GT’s PV product portfolio that is well aligned with our strategy to rapidly innovate and develop next-generation crystal growth solutions,” said Tom Gutierrez, GT Advanced Technologies president and CEO. “PV manufacturers are focusing more closely on increasing cell efficiency as a way to lower the cost of solar energy. Confluence’s HiCz™ technology is expected to drive down the cost of monocrystalline wafers below traditional Czochralski methods while enabling flexible production of advanced materials used in next generation cell architectures. Similar to our strategy deployed in the acquisition of Crystal Systems, our primary goal is to become a major equipment supplier to the CCz monocrystalline market by commercializing the technology that we have acquired. We expect to launch a commercial CCz mono equipment offering in our fiscal year 2013.”
GT Advanced Technologies is investing in a number of next generation silicon crystal growth technologies aimed at taking cost out of the solar PV value chain. The company recently announced that by the end of its second fiscal quarter it expects to introduce its MonoCast™ growth technology, which will improve material quality produced in its industry-leading directional solidification process and allow customers to leverage the value of their investment in GT’s DSS multicrystalline furnaces. The acquisition of Confluence Solar takes GT into a new market segment with a next generation technology offering that will further improve efficiency and lower cost at the high end of the solar PV market.
GT Advanced Technologies will hold a conference call on August 25, 2011 at 8:00am ET to discuss the details of the acquisition and an updated view of Fiscal 2012. The call will be webcast live and can be accessed by logging on to the "Investors" section of GT Advanced Technologies web site, www.gtat.com, or by dialing 1.800.901.5247 or +1.617.786.4501 (international). The telephone passcode is GTAT. A replay will also be available for 90 days and can be accessed on the Investor section of www.gtat.com or by dialing 888 286.8010 or 617.801.6888 (international). The replay passcode is 94974508.
The purchase price consisted of $60 million in cash paid to Confluence Solar’s shareholders at closing and an additional $20 million of cash earn-outs payable upon the achievement of certain financial and technical milestones through GT’s FY13. Investors in Confluence Solar include Convexa Capital, OCI and Oceanshore Investors.
Inclusive of incremental R&D and capital investments to accelerate GT’s time to market with a CCz product, the acquisition is expected to become accretive in the second half of GT’s FY13. The company indicated that the acquisition will eliminate certain previously planned organic development costs in both fiscal 2012 and 2013 which, when netted against the costs incurred in the acquired business, will make the acquisition additionally accretive in fiscal 2013.
“This acquisition adds an innovative technology to GT’s PV product portfolio that is well aligned with our strategy to rapidly innovate and develop next-generation crystal growth solutions,” said Tom Gutierrez, GT Advanced Technologies president and CEO. “PV manufacturers are focusing more closely on increasing cell efficiency as a way to lower the cost of solar energy. Confluence’s HiCz™ technology is expected to drive down the cost of monocrystalline wafers below traditional Czochralski methods while enabling flexible production of advanced materials used in next generation cell architectures. Similar to our strategy deployed in the acquisition of Crystal Systems, our primary goal is to become a major equipment supplier to the CCz monocrystalline market by commercializing the technology that we have acquired. We expect to launch a commercial CCz mono equipment offering in our fiscal year 2013.”
GT Advanced Technologies is investing in a number of next generation silicon crystal growth technologies aimed at taking cost out of the solar PV value chain. The company recently announced that by the end of its second fiscal quarter it expects to introduce its MonoCast™ growth technology, which will improve material quality produced in its industry-leading directional solidification process and allow customers to leverage the value of their investment in GT’s DSS multicrystalline furnaces. The acquisition of Confluence Solar takes GT into a new market segment with a next generation technology offering that will further improve efficiency and lower cost at the high end of the solar PV market.
GT Advanced Technologies will hold a conference call on August 25, 2011 at 8:00am ET to discuss the details of the acquisition and an updated view of Fiscal 2012. The call will be webcast live and can be accessed by logging on to the "Investors" section of GT Advanced Technologies web site, www.gtat.com, or by dialing 1.800.901.5247 or +1.617.786.4501 (international). The telephone passcode is GTAT. A replay will also be available for 90 days and can be accessed on the Investor section of www.gtat.com or by dialing 888 286.8010 or 617.801.6888 (international). The replay passcode is 94974508.
Five First Solar Executives Purchase Company Stock
TEMPE, Ariz.--(BUSINESS WIRE)--First Solar, Inc. (NASDAQ: FSLR) today announced that five of its senior executives purchased a total of 5,500 shares of company stock this week to add to their current holdings. The purchases were made during one of four annual open trading windows for First Solar’s Directors and Section 16 officers and have been reported to the Securities and Exchange Commission in Form 4 filings where applicable.
Each of the First Solar executives purchased shares on the open market using personal funds.
"First Solar's leadership team has confidence in the company's long-term growth prospects and our ability to develop new markets and execute our cost, technology and project road maps," said Rob Gillette, CEO of First Solar.
Each of the First Solar executives purchased shares on the open market using personal funds.
- Tymen DeJong purchased 1,000 shares. DeJong is Senior Vice President of Global Operations, responsible for First Solar’s global manufacturing operations.
- Frank DeRosa purchased 500 shares. DeRosa was recently appointed to an expanded role as Senior Vice President of Business Development for the Americas, where he will oversee Project Development, Sales and Business Development for the Utility Systems Business Group in the Americas.
- TK Kallenbach purchased 1,000 shares. Kallenbach is President of the Components Business Group, responsible for sales of First Solar modules and balance-of-systems products, including First Solar’s European distribution network.
- Jim Lamon purchased 2,000 shares. Lamon is Senior Vice President of Engineering, Procurement and Construction (EPC), which builds and operates utility-scale solar projects, including both First Solar’s 2.6 gigawatt project pipeline and customer projects.
- Mark Widmar purchased 1,000 shares. Widmar joined First Solar in April as Chief Financial Officer.
"First Solar's leadership team has confidence in the company's long-term growth prospects and our ability to develop new markets and execute our cost, technology and project road maps," said Rob Gillette, CEO of First Solar.
Envision Solar Announces Commencement of a Solar Grove® Deployment for a Major US Government Entity
SAN DIEGO, Aug. 25, 2011 /PRNewswire/ -- Envision Solar International, Inc., ("Envision Solar")(OTCBB: EVSI), a leading sustainable infrastructure product designer and developer, today announced that the company has commenced work on 15 electric-vehicle (EV) charging enabled Solar Tree® structures with their integrated EnvisionTrak™ proprietary and patent pending tracking systems for a major US Government entity. The project will generate over $800,000 of revenue for the company and is expected to be completed in Q4 of 2011.
Envision Solar's President and CEO, Desmond Wheatley, said, "Our ability to deliver high quality products to equally high quality customers with whom we have huge scaling potential is key to our growth strategy. This deployment of 15 of our CleanCharge™ enabled EnvisionTrak™ Solar Tree® structures for the world's largest customer is another significant indication of our ability to repeatedly execute on that strategy. We are proud and delighted to have been selected for this very high visibility project and look forward to many more."
Company Chairman and Founder Robert Noble stated, "We are excited about seeing 15 of our iconic, archetypal "Smart Trees™" deployed at this highly visible location right here in our home town, San Diego. For many years to come, visitors to this Solar Grove™ will be able to charge their EVs, see clean energy generation in action, up close, and experience the sheer pleasure of a shady park of beautiful Solar Trees™. It is truly an honor for us to be working on such a forward-looking project which we know will be a powerful demonstration of the government's growing real commitment to a sustainable future."
Envision Solar's President and CEO, Desmond Wheatley, said, "Our ability to deliver high quality products to equally high quality customers with whom we have huge scaling potential is key to our growth strategy. This deployment of 15 of our CleanCharge™ enabled EnvisionTrak™ Solar Tree® structures for the world's largest customer is another significant indication of our ability to repeatedly execute on that strategy. We are proud and delighted to have been selected for this very high visibility project and look forward to many more."
Company Chairman and Founder Robert Noble stated, "We are excited about seeing 15 of our iconic, archetypal "Smart Trees™" deployed at this highly visible location right here in our home town, San Diego. For many years to come, visitors to this Solar Grove™ will be able to charge their EVs, see clean energy generation in action, up close, and experience the sheer pleasure of a shady park of beautiful Solar Trees™. It is truly an honor for us to be working on such a forward-looking project which we know will be a powerful demonstration of the government's growing real commitment to a sustainable future."
Bellevue Union School District and Chevron Energy Solutions Announce Solar Project Expected to Save District $3.3 Million
SANTA ROSA, Calif., Aug. 25, 2011 /PRNewswire/ -- Bellevue Union School District and Chevron Energy Solutions announced today the completion of a 618-kilowatt solar power generating system expected to save the district more than $3.3 million over the life of the project. The district is guaranteed to save more than $750,000 in the first five years.
The system is installed at four elementary school campuses and reduces the district's electrical utility costs by more than 80 percent. By reducing its purchase of utility power, the district is reducing its annual carbon emissions by 407 metric tons, equivalent to the carbon sequestered by 87 acres of pine forest.
"Bellevue Union is proud to take this bold step forward for Sonoma County," said Bellevue Union School District's Superintendent Tony Roehrick, Ed.D. "Through this project, we're making our schools better, more environmentally friendly places to learn and we're teaching our children the importance of renewable energy."
Chevron Energy Solutions designed, engineered and constructed the project and will operate and maintain the solar system's performance for 10 years.
"As a leader in solar and energy efficiency projects for educational institutions, we are pleased to work with the Bellevue Union School District," said Chevron Energy Solutions President Jim Davis. "Through this project, the district is investing in long-term sustainability for the community."
An event to celebrate the completion of the project is scheduled for 9:30 a.m. at Taylor Mountain School in Santa Rosa, Calif. Students, district representatives, local government and business officials will participate in the celebration.
The system is installed at four elementary school campuses and reduces the district's electrical utility costs by more than 80 percent. By reducing its purchase of utility power, the district is reducing its annual carbon emissions by 407 metric tons, equivalent to the carbon sequestered by 87 acres of pine forest.
"Bellevue Union is proud to take this bold step forward for Sonoma County," said Bellevue Union School District's Superintendent Tony Roehrick, Ed.D. "Through this project, we're making our schools better, more environmentally friendly places to learn and we're teaching our children the importance of renewable energy."
Chevron Energy Solutions designed, engineered and constructed the project and will operate and maintain the solar system's performance for 10 years.
"As a leader in solar and energy efficiency projects for educational institutions, we are pleased to work with the Bellevue Union School District," said Chevron Energy Solutions President Jim Davis. "Through this project, the district is investing in long-term sustainability for the community."
An event to celebrate the completion of the project is scheduled for 9:30 a.m. at Taylor Mountain School in Santa Rosa, Calif. Students, district representatives, local government and business officials will participate in the celebration.
eIQ Energy Enables Solar Curtain Wall Collaboration
SAN JOSE, Calif.--(BUSINESS WIRE)--eIQ Energy, developer of Parallel Solar technology, announced today that its vBoost DC-to-DC converter modules have been selected to provide voltage regulation and interconnection for a new line of innovative glass curtain wall components with integrated solar photovoltaic (PV) energy generating capabilities.
Focus Materials, Inc., of Sacramento, Calif., is now offering Focus Wall custom-fabricated glass-and-aluminum curtain walls, with built-in thin-film solar technology from Abound Solar, along with eIQ Energy’s vBoost modules. Abound Solar’s semi-transparent PV technology performs well in both high-temperature and low-light conditions and, when combined with eIQ Energy’s constant-voltage vBoost converters, adds only about 30 percent to the cost of standard curtain wall systems. Available both for new building construction and renovations, this unique solution uses natural solar energy to generate a significant amount of buildings’ electricity needs.
“We’re happy to participate in this groundbreaking technology partnership,” said Michael Lamb, vice president of business development for eIQ Energy. “Our Parallel Solar vBoost modules are ideally suited for large-scale building solar arrays, where they can not only improve the systems’ overall energy output, but also contribute to lower materials and installation costs.”
Focus Materials integrates eIQ Energy’s vBoost modules and wiring into each panel’s glass support structure, out of building users’ sight, along with snap-together electrical connectors that make panels easy to install and connect to the larger solar system. Integrating the components within the glass support structure ensures that the aesthetics of the curtain wall remain uncompromised.
“The simplicity and cost-saving advantages of eIQ Energy’s technology appealed to us as we looked for the best way to add solar PV capability to our photovoltaic curtain wall systems,” said Nicholas Bagatelos, Focus Materials president and founder. “Thanks to eIQ Energy and Abound Solar, we expect this integrated solution to be very popular with our clientele who are increasingly interested in Net Zero Energy Buildings.”
Conventional solar arrays consist of closely matched PV panels wired in series. But shading, soiling, and other issues often reduce individual panels’ electricity output, which in a series architecture can reduce the entire system’s energy output by up to 30 percent. With eIQ Energy’s Parallel Solar architecture, underperforming panels no longer drag down the entire system. Each panel maintains its own peak performance, while the vBoost modules’ predictable, constant voltage output allows the system’s inverter to run at optimal efficiency. This patent-pending power management and architectural approach reduces the complexity of system design and wiring, resulting in lower materials, labor and overall installation costs.
Focus Materials, Inc., of Sacramento, Calif., is now offering Focus Wall custom-fabricated glass-and-aluminum curtain walls, with built-in thin-film solar technology from Abound Solar, along with eIQ Energy’s vBoost modules. Abound Solar’s semi-transparent PV technology performs well in both high-temperature and low-light conditions and, when combined with eIQ Energy’s constant-voltage vBoost converters, adds only about 30 percent to the cost of standard curtain wall systems. Available both for new building construction and renovations, this unique solution uses natural solar energy to generate a significant amount of buildings’ electricity needs.
“We’re happy to participate in this groundbreaking technology partnership,” said Michael Lamb, vice president of business development for eIQ Energy. “Our Parallel Solar vBoost modules are ideally suited for large-scale building solar arrays, where they can not only improve the systems’ overall energy output, but also contribute to lower materials and installation costs.”
Focus Materials integrates eIQ Energy’s vBoost modules and wiring into each panel’s glass support structure, out of building users’ sight, along with snap-together electrical connectors that make panels easy to install and connect to the larger solar system. Integrating the components within the glass support structure ensures that the aesthetics of the curtain wall remain uncompromised.
“The simplicity and cost-saving advantages of eIQ Energy’s technology appealed to us as we looked for the best way to add solar PV capability to our photovoltaic curtain wall systems,” said Nicholas Bagatelos, Focus Materials president and founder. “Thanks to eIQ Energy and Abound Solar, we expect this integrated solution to be very popular with our clientele who are increasingly interested in Net Zero Energy Buildings.”
Conventional solar arrays consist of closely matched PV panels wired in series. But shading, soiling, and other issues often reduce individual panels’ electricity output, which in a series architecture can reduce the entire system’s energy output by up to 30 percent. With eIQ Energy’s Parallel Solar architecture, underperforming panels no longer drag down the entire system. Each panel maintains its own peak performance, while the vBoost modules’ predictable, constant voltage output allows the system’s inverter to run at optimal efficiency. This patent-pending power management and architectural approach reduces the complexity of system design and wiring, resulting in lower materials, labor and overall installation costs.
China Sunergy Announces Shareholder Resolutions Adopted at 2011 Annual General Meeting
BEIJING, Aug. 25, 2011 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that the following shareholder resolutions were adopted at its annual general meeting of shareholders held in Nanjing on August 25, 2011.
China Sunergy's shareholders adopted the following ordinary resolutions proposed by the Company:
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
China Sunergy's shareholders adopted the following ordinary resolutions proposed by the Company:
- Re-election of Mr. Tingxiu Lu as a Class A director of the Company;
- Re-election of Mr. Jian Li as a Class A director of the Company;
- Re-election of Mr. Zhifang Cai as a Class A director of the Company;
- Appointment of the Independent Auditor Deloitte Touche Tohmatsu CPA Ltd. for the fiscal year 2011; and
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
Entech Solar Successfully Completes Testing Required for IEC 62108 Certification for Its Latest CPV Module
FORT WORTH, Texas, Aug. 24, 2011 /PRNewswire/ -- Entech Solar, Inc. (OTC BB: ENSL.OB) (the "Company" or "Entech Solar") today announced that it has received notification from TUV Rheinland Photovoltaic Testing Laboratory that the Company's latest concentrating photovoltaic (CPV) module called SolarVolt™ has met the CPV module testing and construction evaluation requirements of IEC 62108 and the safety requirements as outlined in draft standard IEC 62688. This milestone is a key step in commercializing the SolarVolt product designed to produce electricity for large commercial, industrial, government and utility applications. This new Entech Solar product is protected by several issued and pending patents.
The formal certification protocol under which the Company's SolarVolt was tested is defined in two official documents, IEC 62108: 2007, First Edition : "Concentrator photovoltaic (CPV) modules and assemblies – Design qualification and type approval," and draft standard IEC 62688: Ed 1: "Concentrator photovoltaic (CPV) module and assembly safety qualification", Committee Draft (CD) 82/631/CD, issued by the International Electrotechnical Commission (IEC), the leading global organization that prepares and publishes international standards for all electrical, electronic, and related technologies. Tests in accordance with these documents simulate environmental conditions and influences on CPV modules to verify the performance and reliability during and after accelerated aging, hail impact, mechanical loading, hot and cold, wet and dry environmental conditions, as well as extended outdoor exposure.
Over the past two years, the price per watt of one-sun photovoltaic modules has dropped dramatically, by approximately 50%. To meet this lower price challenge, Entech Solar accelerated the development of a low-cost, highly reliable CPV module design aimed at keeping the Company's technology cost-competitive for many years ahead. This advanced fifth generation module is firmly based on the field-proven heritage of Entech Solar's previous generations of CPV modules and systems. The Entech Solar team has been involved in the research, development, field testing and commercialization of CPV technology for both ground and space applications for more than three decades. Entech Solar relied not only on its long heritage in ground-based CPV technology, but also its 25 year heritage in space-based CPV technology for NASA and U.S. Department of Defense (DOD) applications, to develop SolarVolt. In fact, NASA recently published a success story on the synergy and spin-off relationship between Entech's space CPV technology and SolarVolt. More information on this success story is provided on the following website: http://technology.grc.nasa.gov/SS-solar-concentrator.shtm.
The earlier generations of the Company's CPV technology have all relied on a robust and efficient primary optical concentrator, based on the symmetrical-refraction, arched shape, Fresnel lens design principle. For space applications, the Company uses multi-junction solar cells with similar lens technology. This includes triple-junction cells in the SCARLET array that performed flawlessly on NASA's Deep Space 1 mission in 1998-2001 as well as more advanced space solar power platforms currently being developed. However, for terrestrial applications, the Company has selected high-efficiency, low-cost silicon cells under the line-focus lenses to obtain the best combination of low-cost and high reliability. Conventional one-sun silicon cell processing methods are readily adaptable to produce efficient and low-cost cells for Entech's terrestrial CPV modules operating at 20X geometric concentration ratio, which corresponds to approximately 95% savings in solar cell area.
"The Company is very pleased to have completed this major milestone in our CPV product development. We have been testing the SolarVolt on different two-axis tracking platforms to select one with the lowest capital cost, lowest maintenance and operations costs, and highest long-term reliability in order to field the SolarVolt system in several beta sites so customers, investors and other stake holders are satisfied with the certified product operating in a commercial environment," said David Gelbaum, Entech Solar CEO. Mr. Gelbaum also stated, "I congratulate our CPV team that conducted the detailed design, development and testing to build an excellent product that met or exceeded all of the rigorous test requirements for IEC 62108 and IEC 62688. Our highly experienced CPV team, working under the direction of our CTO, Mark O'Neill, was able to draw upon decades of CPV development, testing and field operations aimed at perfecting this product."
Entech Solar partnered with TUV Rheinland Photovoltaic Testing Laboratory (PTL), LLC, in Tempe, AZ, to carry out the test and certification program that was initiated in September 2010. TUV Rheinland PTL is an ISO 17025 accredited laboratory by the American Association for Laboratory Accreditation – A2LA, is an OSHA recognized NRTL, and is a recognized CBTL under the IEC standards for photovoltaic technology. The Tempe Laboratory is part of the TUV Rheinland group of global solar laboratories. The IEC certificate that results from this successful completion of the testing protocol is recognized globally. Meeting the requirements of the IEC 62108 and IEC Draft 62688 standards, which were designed to be universal, take into account different environments and applications around the world and enhances the Entech Solar's ability to sell the SolarVolt product world-wide. Also, these tests complete the CEC (California Energy Commission) performance requirements so that the Company can apply for a CEC listing. A CEC listing of the SolarVolt will qualify it for performance-based incentives in the California Solar Initiative rebate program.
The formal certification protocol under which the Company's SolarVolt was tested is defined in two official documents, IEC 62108: 2007, First Edition : "Concentrator photovoltaic (CPV) modules and assemblies – Design qualification and type approval," and draft standard IEC 62688: Ed 1: "Concentrator photovoltaic (CPV) module and assembly safety qualification", Committee Draft (CD) 82/631/CD, issued by the International Electrotechnical Commission (IEC), the leading global organization that prepares and publishes international standards for all electrical, electronic, and related technologies. Tests in accordance with these documents simulate environmental conditions and influences on CPV modules to verify the performance and reliability during and after accelerated aging, hail impact, mechanical loading, hot and cold, wet and dry environmental conditions, as well as extended outdoor exposure.
Over the past two years, the price per watt of one-sun photovoltaic modules has dropped dramatically, by approximately 50%. To meet this lower price challenge, Entech Solar accelerated the development of a low-cost, highly reliable CPV module design aimed at keeping the Company's technology cost-competitive for many years ahead. This advanced fifth generation module is firmly based on the field-proven heritage of Entech Solar's previous generations of CPV modules and systems. The Entech Solar team has been involved in the research, development, field testing and commercialization of CPV technology for both ground and space applications for more than three decades. Entech Solar relied not only on its long heritage in ground-based CPV technology, but also its 25 year heritage in space-based CPV technology for NASA and U.S. Department of Defense (DOD) applications, to develop SolarVolt. In fact, NASA recently published a success story on the synergy and spin-off relationship between Entech's space CPV technology and SolarVolt. More information on this success story is provided on the following website: http://technology.grc.nasa.gov/SS-solar-concentrator.shtm.
The earlier generations of the Company's CPV technology have all relied on a robust and efficient primary optical concentrator, based on the symmetrical-refraction, arched shape, Fresnel lens design principle. For space applications, the Company uses multi-junction solar cells with similar lens technology. This includes triple-junction cells in the SCARLET array that performed flawlessly on NASA's Deep Space 1 mission in 1998-2001 as well as more advanced space solar power platforms currently being developed. However, for terrestrial applications, the Company has selected high-efficiency, low-cost silicon cells under the line-focus lenses to obtain the best combination of low-cost and high reliability. Conventional one-sun silicon cell processing methods are readily adaptable to produce efficient and low-cost cells for Entech's terrestrial CPV modules operating at 20X geometric concentration ratio, which corresponds to approximately 95% savings in solar cell area.
"The Company is very pleased to have completed this major milestone in our CPV product development. We have been testing the SolarVolt on different two-axis tracking platforms to select one with the lowest capital cost, lowest maintenance and operations costs, and highest long-term reliability in order to field the SolarVolt system in several beta sites so customers, investors and other stake holders are satisfied with the certified product operating in a commercial environment," said David Gelbaum, Entech Solar CEO. Mr. Gelbaum also stated, "I congratulate our CPV team that conducted the detailed design, development and testing to build an excellent product that met or exceeded all of the rigorous test requirements for IEC 62108 and IEC 62688. Our highly experienced CPV team, working under the direction of our CTO, Mark O'Neill, was able to draw upon decades of CPV development, testing and field operations aimed at perfecting this product."
Entech Solar partnered with TUV Rheinland Photovoltaic Testing Laboratory (PTL), LLC, in Tempe, AZ, to carry out the test and certification program that was initiated in September 2010. TUV Rheinland PTL is an ISO 17025 accredited laboratory by the American Association for Laboratory Accreditation – A2LA, is an OSHA recognized NRTL, and is a recognized CBTL under the IEC standards for photovoltaic technology. The Tempe Laboratory is part of the TUV Rheinland group of global solar laboratories. The IEC certificate that results from this successful completion of the testing protocol is recognized globally. Meeting the requirements of the IEC 62108 and IEC Draft 62688 standards, which were designed to be universal, take into account different environments and applications around the world and enhances the Entech Solar's ability to sell the SolarVolt product world-wide. Also, these tests complete the CEC (California Energy Commission) performance requirements so that the Company can apply for a CEC listing. A CEC listing of the SolarVolt will qualify it for performance-based incentives in the California Solar Initiative rebate program.
Foster Wheeler Awarded Two Solar Steam Generator Contracts in Spain
ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded contracts to supply solar steam generator systems to two separate solar projects in Spain.
The first of the two contracts is with UTE Africa Solar, the Engineering, Procurement and Construction (EPC) contractor for the La Africana Solar Thermal Power Plant, located in Fuente Palmera (Cordoba, Spain) to supply steam generating components (feedwater heaters, preheaters, evaporators, superheaters, and reheaters) for a single 50 MWe train thermal plant. The equipment will be integrated into a concentrated parabolic trough thermal solar plant using molten salts to store the sun’s energy and provide additional hours of plant operation without sun radiation. The equipment delivery is scheduled for second-quarter 2012. Foster Wheeler will also provide site advisory services during the plant’s commissioning phase.
The second of the two contracts is with UTE Termosolar Olivenza (a joint venture created by Acciona and Seridom), the EPC contractor for the Olivenza Solar Thermal Power Plant, located in Olivenza (Badajoz, Spain) to supply a similar scope as that of the La Africana project. This 50 MWe plant consists of 2 x 25 MWe trains and also utilizes concentrated parabolic trough technology with thermal oil as the heat transfer fluid. The equipment delivery is scheduled for first-quarter 2012.
Foster Wheeler has received full notices to proceed on both contracts. The terms of the agreements were not disclosed, and the contract values were included in the company’s first-quarter 2011 bookings.
"Undoubtedly, these awards are recognition of our commitment to solar energy and our client’s confidence in Foster Wheeler as a reliable thermal solar equipment supplier,” said Jesús MartÃ, Chief Executive Officer of Foster Wheeler Energia, S.L. in Madrid. “Since 1973 we have been a leader in the solar thermal power market and are thrilled to be a part of its fast paced future.”
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
The first of the two contracts is with UTE Africa Solar, the Engineering, Procurement and Construction (EPC) contractor for the La Africana Solar Thermal Power Plant, located in Fuente Palmera (Cordoba, Spain) to supply steam generating components (feedwater heaters, preheaters, evaporators, superheaters, and reheaters) for a single 50 MWe train thermal plant. The equipment will be integrated into a concentrated parabolic trough thermal solar plant using molten salts to store the sun’s energy and provide additional hours of plant operation without sun radiation. The equipment delivery is scheduled for second-quarter 2012. Foster Wheeler will also provide site advisory services during the plant’s commissioning phase.
The second of the two contracts is with UTE Termosolar Olivenza (a joint venture created by Acciona and Seridom), the EPC contractor for the Olivenza Solar Thermal Power Plant, located in Olivenza (Badajoz, Spain) to supply a similar scope as that of the La Africana project. This 50 MWe plant consists of 2 x 25 MWe trains and also utilizes concentrated parabolic trough technology with thermal oil as the heat transfer fluid. The equipment delivery is scheduled for first-quarter 2012.
Foster Wheeler has received full notices to proceed on both contracts. The terms of the agreements were not disclosed, and the contract values were included in the company’s first-quarter 2011 bookings.
"Undoubtedly, these awards are recognition of our commitment to solar energy and our client’s confidence in Foster Wheeler as a reliable thermal solar equipment supplier,” said Jesús MartÃ, Chief Executive Officer of Foster Wheeler Energia, S.L. in Madrid. “Since 1973 we have been a leader in the solar thermal power market and are thrilled to be a part of its fast paced future.”
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
Panasonic HIT® Solar Cells and High-Capacity Batteries to Support Tokai University's Solar Car Team
OSAKA, Japan--(BUSINESS WIRE)--Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today announced its sponsorship of Tokai University's solar car team, the defending champion for the 2011 World Solar Challenge (WSC) in Australia, one of the largest solar-powered car races in the world. Under the sponsorship agreement, Panasonic will supply the Japanese university team with its HIT®*1 solar cells boasting the world's highest level*2 of energy conversion rate, as well as high-capacity lithium-ion batteries.
The solar car race, first held in 1987, sees many teams from universities, corporations and other groups around the world competing to race 3,021 km through central Australia from Darwin in the north to Adelaide in the south. The Tokai University team, who won the last race held in 2009 with its solar car using Panasonic lithium-ion battery cells to store its solar generated power, will look for its second straight win at 2011 WSC, which will be held from October 16 to 23.
Panasonic HIT solar cells are hybrids of single crystalline silicon surrounded by ultra-thin amorphous silicon layers. With high conversion efficiency, excellent temperature performance and high energy output per unit area, the cells are ideal for obtaining maximum power within a limited space, such as the rooftops of private homes. HIT cells are also suited for solar cars competing in the WSC because the WSC regulations limit the total area of solar cells installed on the body.
The batteries Panasonic is providing are cylindrical 18650-type (18 mm diameter, 65 mm length) high-capacity lithium-ion battery cells having the company's proprietary nickel-based positive electrode. They will be mounted in arrays within a storage battery module. Featuring the industry's highest level of energy density, the battery cell is light, high capacity and long-lasting and enables making battery module lighter. As the WSC also limits the weight of the rechargeable battery module mounted on the solar car, the high capacity and lightweight Panasonic battery cells are favored by many contenders. This year, Panasonic will provide the high-capacity lithium-ion battery cells to five other solar car teams including Delft University of Technology and University of Twente from the Netherlands, Stanford University and University of California from the U.S.A., and Nanyang Technological University from Singapore.
By providing energy solutions to create electricity from sunlight and store excess power using a combination of its high-efficiency HIT solar cells and high-capacity lithium-ion batteries, Panasonic will support the students' challenge in the solar car race that will be run under harsh weather conditions.
The solar car race, first held in 1987, sees many teams from universities, corporations and other groups around the world competing to race 3,021 km through central Australia from Darwin in the north to Adelaide in the south. The Tokai University team, who won the last race held in 2009 with its solar car using Panasonic lithium-ion battery cells to store its solar generated power, will look for its second straight win at 2011 WSC, which will be held from October 16 to 23.
Panasonic HIT solar cells are hybrids of single crystalline silicon surrounded by ultra-thin amorphous silicon layers. With high conversion efficiency, excellent temperature performance and high energy output per unit area, the cells are ideal for obtaining maximum power within a limited space, such as the rooftops of private homes. HIT cells are also suited for solar cars competing in the WSC because the WSC regulations limit the total area of solar cells installed on the body.
The batteries Panasonic is providing are cylindrical 18650-type (18 mm diameter, 65 mm length) high-capacity lithium-ion battery cells having the company's proprietary nickel-based positive electrode. They will be mounted in arrays within a storage battery module. Featuring the industry's highest level of energy density, the battery cell is light, high capacity and long-lasting and enables making battery module lighter. As the WSC also limits the weight of the rechargeable battery module mounted on the solar car, the high capacity and lightweight Panasonic battery cells are favored by many contenders. This year, Panasonic will provide the high-capacity lithium-ion battery cells to five other solar car teams including Delft University of Technology and University of Twente from the Netherlands, Stanford University and University of California from the U.S.A., and Nanyang Technological University from Singapore.
By providing energy solutions to create electricity from sunlight and store excess power using a combination of its high-efficiency HIT solar cells and high-capacity lithium-ion batteries, Panasonic will support the students' challenge in the solar car race that will be run under harsh weather conditions.
Wednesday, August 24, 2011
China Nuvo Solar Target Acquisition SurgLine Reports on Marketing Progress
WEST PALM BEACH, Fla., Aug. 24, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) today announced that SurgLine's various sales channels are all reporting success that is exceeding expectations for the distribution of the Company's product lines. The Company's plan of action to sell through stocking distributors as well as channel distributors and potentially with medical co-ops and other third party outsourcing solutions is being received better than originally forecasted throughout the industry. SurgLine's product lines include trauma, orthopedic, spine and ENT medical and surgical products selling into hospitals and surgery centers.
Mr. Tom Toland, CEO of SurgLine was quoted as saying "As we speak to CFO's and CEO's of hospitals and surgery centers across the country, one common theme seems to emerge, they must cut costs without sacrificing the quality and healthcare at their facilities. SurgLine is able to meet both of these expectations by providing significant cost savings while maintaining their existing product quality."
Toland continued, SurgLine's corporate business proposition is simple, "More Value for Your Healthcare Dollar." Our team has the ability to source the same or similar surgical and medical products from the original manufacturer sources and bring them to the end user with significant savings. As we begin to source more surgical and medical products for our potential clients, we anticipate deeper penetration as a result of savings we can provide for the client base. In some instances, SurgLine is negotiating for the exclusive distribution rights to market these products in the United States, which will provide SurgLine with an even greater value proposition to the end users in these important markets."
Richard Dutch, COO of SurgLine stated "We believe all of our sales partners will have continued success by transitioning more of their customers and taking advantage of our value-based pricing that does not compromise quality to the end user. The downward reimbursement pressures from insurance payers including the Federal Government and State Governments continues to erode operating margins for the hospital and surgical center operators. We believe we will continue to see substantial demand for our high quality, low cost products to be of significant value as a result of the quantifiable savings we can provide. One would expect that our orders will climb as we continue to introduce our value line of surgical products known as SURG to the marketplace."
Mr. Tom Toland, CEO of SurgLine was quoted as saying "As we speak to CFO's and CEO's of hospitals and surgery centers across the country, one common theme seems to emerge, they must cut costs without sacrificing the quality and healthcare at their facilities. SurgLine is able to meet both of these expectations by providing significant cost savings while maintaining their existing product quality."
Toland continued, SurgLine's corporate business proposition is simple, "More Value for Your Healthcare Dollar." Our team has the ability to source the same or similar surgical and medical products from the original manufacturer sources and bring them to the end user with significant savings. As we begin to source more surgical and medical products for our potential clients, we anticipate deeper penetration as a result of savings we can provide for the client base. In some instances, SurgLine is negotiating for the exclusive distribution rights to market these products in the United States, which will provide SurgLine with an even greater value proposition to the end users in these important markets."
Richard Dutch, COO of SurgLine stated "We believe all of our sales partners will have continued success by transitioning more of their customers and taking advantage of our value-based pricing that does not compromise quality to the end user. The downward reimbursement pressures from insurance payers including the Federal Government and State Governments continues to erode operating margins for the hospital and surgical center operators. We believe we will continue to see substantial demand for our high quality, low cost products to be of significant value as a result of the quantifiable savings we can provide. One would expect that our orders will climb as we continue to introduce our value line of surgical products known as SURG to the marketplace."
SunPeak Solar Selects Suntech for 23MW Power Plant in Southern California
SAN FRANCISCO, Aug. 24, 2011 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, today announced that it has been selected by SunPeak Solar, LLC, a California-based, privately-owned solar energy project developer, to supply 28.7MW (DC) of solar panels for a 23MW (AC) solar power plant in Niland, California.
SunPeak Solar's subsidiary Imperial Valley Solar Company (IVSC) 1, LLC will oversee the project's construction including the installation of about 100,000 units of Suntech's 285/290W Vd-Series modules with advanced SuperPoly silicon processing technology.
The SuperPoly technology produces high-quality silicon ingots and wafers using modified multicrystalline silicon casting equipment that improves module performance by up to 10%. The 72-cell Vd-Series module comes with Suntech's industry-leading 25-year power output warranty - including 0/+5% positive power tolerance - that warrants 6.7% more power than the standard industry warranty. The product meets UL1703, IEC 61215, and IEC 61730 standards.
Constructed on a 123-acre lot located adjacent to the Imperial Irrigation District's (IID) Niland electric substation and natural gas turbine facilities, the solar power plant will generate enough energy to power approximately 14,000 homes within the utility's service area in Imperial County and parts of Riverside and San Diego counties. The project will support IID's plan to comply with California's Renewable Portfolio Standard (RPS) which requires electricity service providers to meet 33% of retail electricity sales with renewable sources by the end of 2020.
The solar power plant will also help IID meet daily peak electricity demands, as last year IID reached its highest peak demand ever of 1,004 MW. The solar project will potentially provide for approximately 2.29% of the utility's peak demand, supplying decades of clean electricity primarily during peak demand hours.
"We're excited to support SunPeak Solar in helping IID meet its RPS goals and satisfy growing peak power demands," said Mick McDaniel, Vice President of the Utility Sales Division for Suntech America. "This well-designed project demonstrates how solar power can efficiently complement existing grid assets, while maximizing value for grid operators and off-takers. Solar electricity serves as an effective hedge against volatile fuel prices and can significantly reduce the aggregate costs of electricity generation."
The North American Development Bank (NADB) will provide a US$77.4 million credit facility to support the project. To date, NADB has helped finance 150 infrastructure projects worth more than US$3.26 billion, benefiting an estimated thirteen million people throughout the U.S.-Mexico border region.
"We are very pleased to participate in this project that will provide a cleaner energy alternative to citizens in Southern California," stated NADB Managing Director Geronimo Gutierrez. "We have been working to build partnerships in the renewable energy sector, with both public entities and private companies and with the signing of this loan, we are opening a new chapter in the evolution of the Bank that will help us move forward in the development of renewable energy projects."
SunPeak Solar's subsidiary Imperial Valley Solar Company (IVSC) 1, LLC will oversee the project's construction including the installation of about 100,000 units of Suntech's 285/290W Vd-Series modules with advanced SuperPoly silicon processing technology.
The SuperPoly technology produces high-quality silicon ingots and wafers using modified multicrystalline silicon casting equipment that improves module performance by up to 10%. The 72-cell Vd-Series module comes with Suntech's industry-leading 25-year power output warranty - including 0/+5% positive power tolerance - that warrants 6.7% more power than the standard industry warranty. The product meets UL1703, IEC 61215, and IEC 61730 standards.
Constructed on a 123-acre lot located adjacent to the Imperial Irrigation District's (IID) Niland electric substation and natural gas turbine facilities, the solar power plant will generate enough energy to power approximately 14,000 homes within the utility's service area in Imperial County and parts of Riverside and San Diego counties. The project will support IID's plan to comply with California's Renewable Portfolio Standard (RPS) which requires electricity service providers to meet 33% of retail electricity sales with renewable sources by the end of 2020.
The solar power plant will also help IID meet daily peak electricity demands, as last year IID reached its highest peak demand ever of 1,004 MW. The solar project will potentially provide for approximately 2.29% of the utility's peak demand, supplying decades of clean electricity primarily during peak demand hours.
"We're excited to support SunPeak Solar in helping IID meet its RPS goals and satisfy growing peak power demands," said Mick McDaniel, Vice President of the Utility Sales Division for Suntech America. "This well-designed project demonstrates how solar power can efficiently complement existing grid assets, while maximizing value for grid operators and off-takers. Solar electricity serves as an effective hedge against volatile fuel prices and can significantly reduce the aggregate costs of electricity generation."
The North American Development Bank (NADB) will provide a US$77.4 million credit facility to support the project. To date, NADB has helped finance 150 infrastructure projects worth more than US$3.26 billion, benefiting an estimated thirteen million people throughout the U.S.-Mexico border region.
"We are very pleased to participate in this project that will provide a cleaner energy alternative to citizens in Southern California," stated NADB Managing Director Geronimo Gutierrez. "We have been working to build partnerships in the renewable energy sector, with both public entities and private companies and with the signing of this loan, we are opening a new chapter in the evolution of the Bank that will help us move forward in the development of renewable energy projects."
MiaSole Celebrates Wales Solar Park With ArtAt Festival Sponsorship
SANTA CLARA, Calif., Aug. 24, 2011 /PRNewswire/ -- MiaSole, the leading manufacturer of copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels, today announced its sponsorship of the ArtAt 2011 Festival to commemorate the launch of the new Western Solar Park at Rhosygilwen, Wales. The festival takes places in the Rhosygilwen's extensive grounds from August 26-29, 2011.
The Western Solar Park is a first for Wales and one of the largest in the United Kingdom. Comprising over 9,000 panels that equal 1MW, the park will generate enough green energy to power 600 homes when it is connected to the UK's national grid this summer. This creates a large carbon neutral region in North Pembrokeshire and Ceredigion. The Park is also the first site in the U.K. where MiaSole CIGS (copper indium gallium selenide) panels, one of the highest efficiency thin-film photovoltaic solar panels in the world, are installed.
"MiaSole is delighted to have partnered with Rhosygilwen and Czech installer FitCraft Production to create an environmentally friendly footprint in West Wales," said Joseph Laia, President and Chief Executive Officer, MiaSole. "At MiaSole we're committed to advancing the extraordinary potential of solar power as a competitive, sustainable energy source and the Western Solar Park is an excellent example of this."
Now in its fourth year, ArtAt exhibits works by nationally recognized and impressive emerging artists with connections to Wales in Neuadd y Dderwen (Oak Hall) and outdoor sculptures in the Park.
Many of the works created for this year's festival reflect the artists' concerns with environmental, recycling, and green energy issues. Standing at the entrance to the Western Solar Park will be "Sol," a dramatic horse's head sculpted by Chris Crane out of recycled parts of wind turbines, gas gaskets and other scrap metals. John Binet-Fauvel knits his sculpture out of discarded electrical wiring. Michelle Caine weaves hers out of willow. Cassandra Lishman has also chosen willow to weave a group of Herons on legs of sculpted metal made in partnership with a local blacksmith. Dawny Tootes has used salvaged aluminium to create a Chandelier that will hang from a tree and be lit by solar lights. Melissa Warren incorporates found and recycled materials to create works that can integrate with plants and weather with the seasons. Trashion Fashion in the Gazebo will display ravishing designer clothing created out of discarded materials by six West Wales designers and textile students from Carmarthen College.
The Western Solar Park is a first for Wales and one of the largest in the United Kingdom. Comprising over 9,000 panels that equal 1MW, the park will generate enough green energy to power 600 homes when it is connected to the UK's national grid this summer. This creates a large carbon neutral region in North Pembrokeshire and Ceredigion. The Park is also the first site in the U.K. where MiaSole CIGS (copper indium gallium selenide) panels, one of the highest efficiency thin-film photovoltaic solar panels in the world, are installed.
"MiaSole is delighted to have partnered with Rhosygilwen and Czech installer FitCraft Production to create an environmentally friendly footprint in West Wales," said Joseph Laia, President and Chief Executive Officer, MiaSole. "At MiaSole we're committed to advancing the extraordinary potential of solar power as a competitive, sustainable energy source and the Western Solar Park is an excellent example of this."
Now in its fourth year, ArtAt exhibits works by nationally recognized and impressive emerging artists with connections to Wales in Neuadd y Dderwen (Oak Hall) and outdoor sculptures in the Park.
Many of the works created for this year's festival reflect the artists' concerns with environmental, recycling, and green energy issues. Standing at the entrance to the Western Solar Park will be "Sol," a dramatic horse's head sculpted by Chris Crane out of recycled parts of wind turbines, gas gaskets and other scrap metals. John Binet-Fauvel knits his sculpture out of discarded electrical wiring. Michelle Caine weaves hers out of willow. Cassandra Lishman has also chosen willow to weave a group of Herons on legs of sculpted metal made in partnership with a local blacksmith. Dawny Tootes has used salvaged aluminium to create a Chandelier that will hang from a tree and be lit by solar lights. Melissa Warren incorporates found and recycled materials to create works that can integrate with plants and weather with the seasons. Trashion Fashion in the Gazebo will display ravishing designer clothing created out of discarded materials by six West Wales designers and textile students from Carmarthen College.
CNPV Announces Appointment of Key Personnel in Americas
LUXEMBOURG and DONGYING, China, Aug. 24, 2011 /PRNewswire-Asia/ -- CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today announced the key personnel appointments of Ms. Loan Tran as Vice President of Sales and Marketing Americas, and Dr. Mike Stowell as Director of Business Development Americas w.e.f. July 1, 2011.
"Our Americas penetration is on track with our strategy," affirmed Mr. B. Veerraju Chaudary, CNPV's Chief Operating Officer. "Ensuring that we underscore our progress with key individuals is paramount to maximising our 'rate of change' of growth. We are delighted to have Loan and Mike within our team; they will bring huge additional benefits both to our organisation and our customers."
Ms. Loan Tran received her Bachelor's Degree from the University of Colorado in Boulder. Loan's experience has focused upon the inception and creation of successful business operation from the ground up. Developing sustainable growth and brand development within the solar industry during her career, the geographical successes have occurred across Asia Pacific, Europe and the Americas regions. Loan's appointment as Vice President of Sales & Marketing Americas brings a "hands on" delivery of the positive localized international approach to CNPV's business and market expansion.
Dr. M.H.B. Stowell received his Ph.D. from the California Institute of Technology in chemistry and biophysics. He has published numerous scientific articles and is the inventor on over 20 patents. His extensive technological experience has encased in depth solar pv evaluation and application, delivering "more for less" on a daily basis to customers internationally. His far-reaching practical expertise is now made available to facilitate cost effective solutions and increased profit generation for the CNPV market, its customers and the end users.
Both Ms. Tran and Dr. Stowell will be located in Boulder Colorado to best serve the Americas market. Reporting directly to Mr. B. Veerraju Chaudary COO and CTO of CNPV, they will increase the effectiveness of the regional support and the efficiency of the Company as a whole.
"Our Americas penetration is on track with our strategy," affirmed Mr. B. Veerraju Chaudary, CNPV's Chief Operating Officer. "Ensuring that we underscore our progress with key individuals is paramount to maximising our 'rate of change' of growth. We are delighted to have Loan and Mike within our team; they will bring huge additional benefits both to our organisation and our customers."
Ms. Loan Tran received her Bachelor's Degree from the University of Colorado in Boulder. Loan's experience has focused upon the inception and creation of successful business operation from the ground up. Developing sustainable growth and brand development within the solar industry during her career, the geographical successes have occurred across Asia Pacific, Europe and the Americas regions. Loan's appointment as Vice President of Sales & Marketing Americas brings a "hands on" delivery of the positive localized international approach to CNPV's business and market expansion.
Dr. M.H.B. Stowell received his Ph.D. from the California Institute of Technology in chemistry and biophysics. He has published numerous scientific articles and is the inventor on over 20 patents. His extensive technological experience has encased in depth solar pv evaluation and application, delivering "more for less" on a daily basis to customers internationally. His far-reaching practical expertise is now made available to facilitate cost effective solutions and increased profit generation for the CNPV market, its customers and the end users.
Both Ms. Tran and Dr. Stowell will be located in Boulder Colorado to best serve the Americas market. Reporting directly to Mr. B. Veerraju Chaudary COO and CTO of CNPV, they will increase the effectiveness of the regional support and the efficiency of the Company as a whole.
JinkoSolar Expands Global Footprint in Switzerland
HANGHAI, Aug. 24, 2011 /PRNewswire-Asia-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("the company") (NYSE: JKS), a fast-growing, vertically integrated solar power product manufacturer headquartered in China, today announced the establishment of the company's new branch in Zug, Switzerland. The office commenced operations earlier this month.
JinkoSolar's new location represents the latest strategic step in the expansion of the company's global footprint. In establishing JinkoSolar (Switzerland) AG, the company aims to reinforce its global presence, while expanding its local operational capabilities throughout Europe to better service its growing clientele.
"In recent years, JinkoSolar has cemented itself as one of the most trustworthy partners across Europe. This success can be largely attributed to the company's commitment to ensuring that our customers have a reliable, local support team available," said Mr. Xiande Li, Chairman of JinkoSolar. "To this end, we are pleased to announce the opening of our new branch in Switzerland. The Zug region has a stellar reputation due to its favorable business climate, and we are looking forward to establishing operations in this region to enhance our customers' experiences in the European market."
About JinkoSolar
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing, vertically integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, U.S. and Bologna, Italy. JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of 1.1 GW each for silicon ingots, wafers, solar cells and solar modules as of June 30, 2011, and plans to expand its annual capacity to 1.5GW each for silicon wafers, solar cells and solar modules by end of 2011. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Italy, Germany, Belgium, Spain, the United States, France and other countries and regions.
JinkoSolar's new location represents the latest strategic step in the expansion of the company's global footprint. In establishing JinkoSolar (Switzerland) AG, the company aims to reinforce its global presence, while expanding its local operational capabilities throughout Europe to better service its growing clientele.
"In recent years, JinkoSolar has cemented itself as one of the most trustworthy partners across Europe. This success can be largely attributed to the company's commitment to ensuring that our customers have a reliable, local support team available," said Mr. Xiande Li, Chairman of JinkoSolar. "To this end, we are pleased to announce the opening of our new branch in Switzerland. The Zug region has a stellar reputation due to its favorable business climate, and we are looking forward to establishing operations in this region to enhance our customers' experiences in the European market."
About JinkoSolar
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing, vertically integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, U.S. and Bologna, Italy. JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of 1.1 GW each for silicon ingots, wafers, solar cells and solar modules as of June 30, 2011, and plans to expand its annual capacity to 1.5GW each for silicon wafers, solar cells and solar modules by end of 2011. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Italy, Germany, Belgium, Spain, the United States, France and other countries and regions.
Magnum Pv offers bankable financing solutions for solar energy customers
TORONTO, Aug. 24, 2011 /PRNewswire/ - Magnum Pv is pleased to announce an agreement with one of the largest Canadian Schedule A banks to provide solar installation financing utilizing Magnum Pv panels. As a member of the select group of Bankable renewable energy manufacturers, Magnum Pv provides secure financing solutions to stakeholders wishing to develop solar energy projects in North America.
Magnum Pv is currently filling orders for its 2012 production run. Magnum Pv offers the highest quality multicrystalline and monocrystalline PV modules in Ontario, available in 245, 250, 290 and 300 watt models. In addition to its solar PV modules, Magnum Pv offers debt and equity financing as well as complete installation packages for rooftop and ground-mount solar PV projects. All Magnum Pv modules are backed by a best-in-class 25-year comprehensive product warranty.
Magnum Pv is a division of Viceroy Capital Corp.
Magnum Pv is currently filling orders for its 2012 production run. Magnum Pv offers the highest quality multicrystalline and monocrystalline PV modules in Ontario, available in 245, 250, 290 and 300 watt models. In addition to its solar PV modules, Magnum Pv offers debt and equity financing as well as complete installation packages for rooftop and ground-mount solar PV projects. All Magnum Pv modules are backed by a best-in-class 25-year comprehensive product warranty.
Magnum Pv is a division of Viceroy Capital Corp.
Evergreen Solar Receives Letter From NASDAQ Relating to Its Late Form 10-Q
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (NasdaqCM: ESLR), a manufacturer of String Ribbon® solar power products with its proprietary, low-cost silicon wafer technology, received a letter from The Nasdaq Listing Qualifications Staff on August 17, 2011, notifying the Company that it is currently not in compliance with Nasdaq Marketplace Rule 5250(c)(1) because it has not filed its report on Form 10-Q for the quarter ended July 2, 2011 in a timely manner. As previously disclosed, the Company has received an additional notice from Nasdaq as a result of having filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware seeking relief under the provisions of Chapter 11 of the Bankruptcy Code (Case No. 11-12590). The Company does not plan to appeal Nasdaq’s determination to delist the Company’s common stock and, as a result, trading of the Company’s common stock will be suspended at the opening of business on August 24, 2011.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon solar power products using its proprietary, low-cost silicon wafer technology. The Company’s patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar’s products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar and String Ribbon are registered trademarks of Evergreen Solar, Inc.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon solar power products using its proprietary, low-cost silicon wafer technology. The Company’s patented wafer manufacturing technology uses significantly less polysilicon than conventional processes. Evergreen Solar’s products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the Company, please visit www.evergreensolar.com. Evergreen Solar and String Ribbon are registered trademarks of Evergreen Solar, Inc.
Tuesday, August 23, 2011
West Sonoma County Union High School District Flips the Switch on 834kW Solar Installation by Real Goods Solar
SAN RAFAEL, Calif., Aug. 23, 2011 /PRNewswire/ -- With the commencement of the school year, West Sonoma County Union High School District (WSCUHSD) announced the commissioning of a solar power system which will provide approximately 80% of the power needs at Analy, El Molino and Laguna High Schools. Real Goods Solar designed, engineered and installed the 834kW system, remarkably, in less than four months.
Funded through Measure I bond money, the District will own the system, which will help it balance its budget and focus on its core mission, education.
The system, 70% elevated solar array and 30% ground mount, employs more than 2,600 Sunpower 320 modules. American Recovery and Reinvestment Act (ARRA) compliant, all parts are made in America. Using some of the most efficient solar panels available, the district is expected to produce approximately 1,250 megawatt hours of electricity annually, enough to power roughly 300 homes.
WSCUHSD Superintendent Keller McDonald explained, "Using solar will save the school district approximately $250,000 a year, plus the state of California will be providing an incentive for building the project of approximately $1.1 million, to be paid out over the next five years."
Real Goods Solar intends to maximize the educational value of the system by installing a state of the art monitoring device and touch screen monitors, providing students hands-on lessons in renewable energy. In addition, the company is developing a solar curriculum to include training, educational materials and field trips provided by the Solar Living Institute near Hopland, California, where students will visit Real Goods Solar's 12-acre solar demonstration center.
According to Tyson Grul, Director of Commercial Solar for Real Goods, the tight timeframe provided some challenges, but the work was worth the reward, "As a graduate of WSCUHSD, I find it particularly gratifying to be helping reduce its carbon footprint. With school continually facing budget cuts, this is a great example of a district taking control over its financial future and proving that 'green energy' is good for the environment and the economy."
Funded through Measure I bond money, the District will own the system, which will help it balance its budget and focus on its core mission, education.
The system, 70% elevated solar array and 30% ground mount, employs more than 2,600 Sunpower 320 modules. American Recovery and Reinvestment Act (ARRA) compliant, all parts are made in America. Using some of the most efficient solar panels available, the district is expected to produce approximately 1,250 megawatt hours of electricity annually, enough to power roughly 300 homes.
WSCUHSD Superintendent Keller McDonald explained, "Using solar will save the school district approximately $250,000 a year, plus the state of California will be providing an incentive for building the project of approximately $1.1 million, to be paid out over the next five years."
Real Goods Solar intends to maximize the educational value of the system by installing a state of the art monitoring device and touch screen monitors, providing students hands-on lessons in renewable energy. In addition, the company is developing a solar curriculum to include training, educational materials and field trips provided by the Solar Living Institute near Hopland, California, where students will visit Real Goods Solar's 12-acre solar demonstration center.
According to Tyson Grul, Director of Commercial Solar for Real Goods, the tight timeframe provided some challenges, but the work was worth the reward, "As a graduate of WSCUHSD, I find it particularly gratifying to be helping reduce its carbon footprint. With school continually facing budget cuts, this is a great example of a district taking control over its financial future and proving that 'green energy' is good for the environment and the economy."
SunRun President Lynn Jurich Joins Founding Board of Startup America Partnership
SAN FRANCISCO, Aug. 23, 2011 /PRNewswire/ -- SunRun, the nation's leading home solar company, today announced that its President and Co-founder Lynn Jurich joined the Startup America Partnership's founding board. Launched at the White House in January of 2011, the Startup America Partnership helps entrepreneurs start and scale their companies to accelerate job growth in the U.S.
"As the co-founder of a fast-growth company with vivid memories of what it's like when you're just starting out, I'm honored to serve on the board of an organization that exists to help other entrepreneurs succeed," said Jurich. "Innovation and entrepreneurship are two things America does well, and we can use them to create jobs and improve the economy."
Chaired by AOL Co-founder Steve Case, the Startup America Partnership aligns with President Obama's Startup America Initiative and is a project of the Case and Kauffman foundations. The organization brings together a coalition of mentors, advisors, funders, major corporations and service providers to deliver useful resources and advice to entrepreneurs. Other members of the Founding Board include: Michael Dell, chairman of the Board and CEO of Dell, Inc.; Reed Hastings, founder and CEO of Netflix; Magic Johnson, founder and CEO of Magic Johnson Enterprises; and Tory Burch, CEO of Tory Burch LLC.
"Lynn is a fantastic example of the type of high-growth entrepreneur the Startup America Partnership is targeting," said Scott Case, CEO of the Startup America Partnership. "In less than four years, she has built a solar energy business that supports a network of thousands of jobs across nine states. Her practical insights will guide us in supporting America's job-creating startups."
SunRun owns, installs, and maintains home solar panels so families don't have to pay $30,000 or more for them. Families lock in low solar electricity rates for 20 years to ensure predictable energy costs.
In addition to her commitment to the Startup America Partnership, Jurich is a member of the Sierra Club Foundation Board of Directors. She and SunRun Co-founder Edward Fenster are 2010 Ernst & Young Entrepreneurs of the Year, and in 2009, FORTUNE Magazine named Jurich to its list of Most Powerful Women Entrepreneurs.
"As the co-founder of a fast-growth company with vivid memories of what it's like when you're just starting out, I'm honored to serve on the board of an organization that exists to help other entrepreneurs succeed," said Jurich. "Innovation and entrepreneurship are two things America does well, and we can use them to create jobs and improve the economy."
Chaired by AOL Co-founder Steve Case, the Startup America Partnership aligns with President Obama's Startup America Initiative and is a project of the Case and Kauffman foundations. The organization brings together a coalition of mentors, advisors, funders, major corporations and service providers to deliver useful resources and advice to entrepreneurs. Other members of the Founding Board include: Michael Dell, chairman of the Board and CEO of Dell, Inc.; Reed Hastings, founder and CEO of Netflix; Magic Johnson, founder and CEO of Magic Johnson Enterprises; and Tory Burch, CEO of Tory Burch LLC.
"Lynn is a fantastic example of the type of high-growth entrepreneur the Startup America Partnership is targeting," said Scott Case, CEO of the Startup America Partnership. "In less than four years, she has built a solar energy business that supports a network of thousands of jobs across nine states. Her practical insights will guide us in supporting America's job-creating startups."
SunRun owns, installs, and maintains home solar panels so families don't have to pay $30,000 or more for them. Families lock in low solar electricity rates for 20 years to ensure predictable energy costs.
In addition to her commitment to the Startup America Partnership, Jurich is a member of the Sierra Club Foundation Board of Directors. She and SunRun Co-founder Edward Fenster are 2010 Ernst & Young Entrepreneurs of the Year, and in 2009, FORTUNE Magazine named Jurich to its list of Most Powerful Women Entrepreneurs.
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