National Semiconductor is entering the photovoltaic market with new technology designed to increase the effectiveness of solar panels under variable light conditions. National's SolarMagic™ technology recoups up to 50 percent of the lost energy, dramatically improving the economics in shaded and other real-world conditions. The SolarMagic technology maximizes the energy output of each solar panel, compensating for much of the energy lost due to shadows from tree branches or power lines, dust and debris, and panel-to-panel mismatch.
Today's solar installations are disproportionately impacted by shading conditions, which significantly limits the design, location, and energy output of typical residential solar installations. Shading conditions can even invalidate local and government incentives, making these installations cost-prohibitive. National's SolarMagic technology minimizes the system impact of shading and other outdoor conditions, maximizing the energy output of each solar panel.
Monday, June 30, 2008
Soccer Goes Solar In Spain
By means of this agreement, Trina Solar will supply Espanyol with 500 KW of photovoltaic modules for the construction of a roof-top PV installation in the club’s new Stadium. Moreover Trina Solar will be the official sponsor of the rear part of the T-shirt of the football team for the next 3 football seasons.
This announcement was held at the Olympic Stadium in Barcelona with great attendance of sports, general and renewable energy media. The event was presented by the club’s CEO, Mr. Pedro Tomás; Marketing Director, Mr Adolfo Bara, as well as by Trina Solar’s Vice-President of Sales & Marketing, Mr. Arturo Herrero, and Marketing & Communication Manager for Europe, Ms. Vanessa Membrive.
According to Mr Bara, “For Espanyol it is a great opportunity to work together with a large multinational company like Trina Solar, who has a strong bet on new technologies and renewable energies. It is very important for us that a leader in the solar sector believes in our project”.
“We are very excited to have reached this co-operation agreement with RCD Espanyol” remarked Mr Herrero, “since it means participating in the building of an ecological football stadium, pioneer in Spain and an example to follow around the world. For an international PV module manufacturer like Trina Solar, this commitment confirms the clear bet of the company for a sustainable expansion as we become a reference in the sector in Europe. We are very proud to count on this flagship PV installation and to work together with a well-known Spanish Premier League football team such as Espanyol, performing very well in the Spanish Liga, one of the most important football leagues in the world.”
This announcement was held at the Olympic Stadium in Barcelona with great attendance of sports, general and renewable energy media. The event was presented by the club’s CEO, Mr. Pedro Tomás; Marketing Director, Mr Adolfo Bara, as well as by Trina Solar’s Vice-President of Sales & Marketing, Mr. Arturo Herrero, and Marketing & Communication Manager for Europe, Ms. Vanessa Membrive.
According to Mr Bara, “For Espanyol it is a great opportunity to work together with a large multinational company like Trina Solar, who has a strong bet on new technologies and renewable energies. It is very important for us that a leader in the solar sector believes in our project”.
“We are very excited to have reached this co-operation agreement with RCD Espanyol” remarked Mr Herrero, “since it means participating in the building of an ecological football stadium, pioneer in Spain and an example to follow around the world. For an international PV module manufacturer like Trina Solar, this commitment confirms the clear bet of the company for a sustainable expansion as we become a reference in the sector in Europe. We are very proud to count on this flagship PV installation and to work together with a well-known Spanish Premier League football team such as Espanyol, performing very well in the Spanish Liga, one of the most important football leagues in the world.”
4 Proposed Solar Projects For Pima Co Arizona
Solar-power generation in Pima County would more than double by the end of the year — and could more than double again the following year — if the city of Tucson, the University of Arizona and Davis-Monthan Air Force Base attract bidders for four large solar projects.
The two largest projects — a photovoltaic array on up to 350 acres at the base and a similar-sized array at the city's water recharge site in Avra Valley — would each generate at least 1 megawatt (a million watts) of power initially.
In all, the three governments are planning a minimum of 3.1 megawatts of solar generation, which could eventually grow to 10 or more megawatts. Currently, about 1,500 kilowatts of power (1.5 megawatts) are generated from solar panels in Pima County.
Most of the projects would be power-purchase agreements, in which contractors would build and own the systems. They could claim tax and environmental credits and recoup costs with the sale of power to the governmental entity.
"These are really big — some of the largest ones in the country," said Dennis Dickerson, environmental planning coordinator for the Pima Association of Governments. "The good news is people have really realized we're looking at an energy transformation," he said.
Rising energy prices and increased efficiency have combined to make solar-power generation more economical, he said, though the arithmetic still depends on federal tax credits that run out at the end of this year. That's why the UA and one of the city's projects require that installation be completed by the end of the year.
Both the city and UA plan expansion of the projects if solar-energy tax credits are extended by Congress. Governments can't use tax credits, but contractors can claim them and reduce the cost for purchase of the systems or the power they generate.
The UA is currently prevented from generating more than 500 kilowatts of power from solar under the terms of its agreement with Tucson Electric Power. Both sides want to change that agreement, which would need approval from the Arizona Corporation Commission, said Tom Thompson, assistant to UA Senior Vice President Joel Valdez.
"We're all working to change those rules," said TEP spokesman Joe Salkowski. "When those rules were written, the prospect of large-scale photovoltaic generation was not on anybody's radar," he said.
Thompson said the university would prefer to start small anyway. "The idea is to put on suitable university roofs a small number, to begin with, of photovoltaic generators and see how it goes," he said... read the rest
The two largest projects — a photovoltaic array on up to 350 acres at the base and a similar-sized array at the city's water recharge site in Avra Valley — would each generate at least 1 megawatt (a million watts) of power initially.
In all, the three governments are planning a minimum of 3.1 megawatts of solar generation, which could eventually grow to 10 or more megawatts. Currently, about 1,500 kilowatts of power (1.5 megawatts) are generated from solar panels in Pima County.
Most of the projects would be power-purchase agreements, in which contractors would build and own the systems. They could claim tax and environmental credits and recoup costs with the sale of power to the governmental entity.
"These are really big — some of the largest ones in the country," said Dennis Dickerson, environmental planning coordinator for the Pima Association of Governments. "The good news is people have really realized we're looking at an energy transformation," he said.
Rising energy prices and increased efficiency have combined to make solar-power generation more economical, he said, though the arithmetic still depends on federal tax credits that run out at the end of this year. That's why the UA and one of the city's projects require that installation be completed by the end of the year.
Both the city and UA plan expansion of the projects if solar-energy tax credits are extended by Congress. Governments can't use tax credits, but contractors can claim them and reduce the cost for purchase of the systems or the power they generate.
The UA is currently prevented from generating more than 500 kilowatts of power from solar under the terms of its agreement with Tucson Electric Power. Both sides want to change that agreement, which would need approval from the Arizona Corporation Commission, said Tom Thompson, assistant to UA Senior Vice President Joel Valdez.
"We're all working to change those rules," said TEP spokesman Joe Salkowski. "When those rules were written, the prospect of large-scale photovoltaic generation was not on anybody's radar," he said.
Thompson said the university would prefer to start small anyway. "The idea is to put on suitable university roofs a small number, to begin with, of photovoltaic generators and see how it goes," he said... read the rest
Grant Turns The Big Easy Into Solar City
Gathered around a mock roof in the middle of a workshop at the Louisiana Technical College Jefferson campus this week, 13 potential solar panel installers analyzed a quartet of photovoltaic panels mounted in a continuous row. The group had spent the past two days in class learning the basics of solar technology installation, and they seemed ready to put their skills to use.
"Do they have to be all together like that?" asked Larry Chan, chief electrical inspector for the New Orleans Department of Safety and Permits, who attended the course to familiarize himself and his department with solar technology. "See, now I would spread them apart, so there's room to walk between them."
Some group members nodded their heads, and they discussed other options for making the panels more accessible. The solar students finished the first part of the training course Wednesday; by the time they complete a second training series in mid-July, they will be solar installers certified by the federal Department of Energy and ready to supply the New Orleans area with renewable energy.
The training course, the first of its kind in the New Orleans area, was partially funded by a $200,000 grant from the Department of Energy, which was given in June 2007 to a total of 13 "Solar Cities" across the country to encourage the use of solar power. The grant was divided between the city's Office of Recovery and Development Administration; the New Orleans branch of Global Green USA; the Alliance for Affordable Energy, which organized the training course; and New Orleans-based sustainable design consultancy FutureProof.
The city and other recipients are matching the grant with in-kind services, said John McGowan, who last month signed on as energy director for the city of New Orleans. The grant also includes technical support and training from the Department of Energy's "Tiger Team," a group of energy experts throughout the country, including the Florida Solar Energy Center, which provided instructors and materials for the training course.
As Louisianians face unprecedented state and federal tax credits offering up to $12,500 off the cost of solar panel systems, solar technology has yet to become a significant trend. A barely-there solar business infrastructure (there are currently five certified solar installers in the entire state, said Forest Bradley-Wright with the Alliance), a lack of public information about the technology and the financial hump of buying a solar system, even with the tax credits, are the main obstacles the grant will tackle through programs such as the solar installation course, McGowan said... read the rest
"Do they have to be all together like that?" asked Larry Chan, chief electrical inspector for the New Orleans Department of Safety and Permits, who attended the course to familiarize himself and his department with solar technology. "See, now I would spread them apart, so there's room to walk between them."
Some group members nodded their heads, and they discussed other options for making the panels more accessible. The solar students finished the first part of the training course Wednesday; by the time they complete a second training series in mid-July, they will be solar installers certified by the federal Department of Energy and ready to supply the New Orleans area with renewable energy.
The training course, the first of its kind in the New Orleans area, was partially funded by a $200,000 grant from the Department of Energy, which was given in June 2007 to a total of 13 "Solar Cities" across the country to encourage the use of solar power. The grant was divided between the city's Office of Recovery and Development Administration; the New Orleans branch of Global Green USA; the Alliance for Affordable Energy, which organized the training course; and New Orleans-based sustainable design consultancy FutureProof.
The city and other recipients are matching the grant with in-kind services, said John McGowan, who last month signed on as energy director for the city of New Orleans. The grant also includes technical support and training from the Department of Energy's "Tiger Team," a group of energy experts throughout the country, including the Florida Solar Energy Center, which provided instructors and materials for the training course.
As Louisianians face unprecedented state and federal tax credits offering up to $12,500 off the cost of solar panel systems, solar technology has yet to become a significant trend. A barely-there solar business infrastructure (there are currently five certified solar installers in the entire state, said Forest Bradley-Wright with the Alliance), a lack of public information about the technology and the financial hump of buying a solar system, even with the tax credits, are the main obstacles the grant will tackle through programs such as the solar installation course, McGowan said... read the rest
BLM Places Moratorium On New Solar Projects
The Bureau of Land Management has placed a two year moratorium on new solar power projects proposed for building on public lands.
"Faced with a surge in the number of proposed solar power plants, the federal government has placed a moratorium on new solar projects on public land until it studies their environmental impact, which is expected to take about two years."
The Bureau of Land Management says an extensive environmental study is needed to determine how large solar plants might affect millions of acres it oversees in six Western states — Arizona, California, Colorado, Nevada, New Mexico and Utah.
Now, this won’t affect any pending proposal–apparently there are about 130 in the works. But at least on face, this ban doesn’t appear to make a lot of sense. It seems to me that there isn’t any reason why the BLM couldn’t study the environmental impacts of solar power while still allowing new proposals–as new information is gathered, the EIR’s for new projects could just be changed accordingly. At a time when we’re giving due consideration to opening up new oil and gas projects on public lands, a freeze on solar power seems counterproductive.
"Faced with a surge in the number of proposed solar power plants, the federal government has placed a moratorium on new solar projects on public land until it studies their environmental impact, which is expected to take about two years."
The Bureau of Land Management says an extensive environmental study is needed to determine how large solar plants might affect millions of acres it oversees in six Western states — Arizona, California, Colorado, Nevada, New Mexico and Utah.
Now, this won’t affect any pending proposal–apparently there are about 130 in the works. But at least on face, this ban doesn’t appear to make a lot of sense. It seems to me that there isn’t any reason why the BLM couldn’t study the environmental impacts of solar power while still allowing new proposals–as new information is gathered, the EIR’s for new projects could just be changed accordingly. At a time when we’re giving due consideration to opening up new oil and gas projects on public lands, a freeze on solar power seems counterproductive.
Australia Announces First Grid Connected Solar Power Plant
The Western Australian mining town of Kalgoorlie will house the nation's first solar power station connected to a main grid, Premier Alan Carpenter says.
At the Australian Labor Party's state conference in Perth Mr Carpenter has used the backdrop of the energy supply crisis to announce new projects in renewable energy and public transport.
The $13 million solar power station will supply 1.77 mega watts of electricity to around 500 homes in the Goldfields town.
The state will also fund research into a harvesting machine for oil mallee trees, a bio-energy source that can be grown alongside conventional cereal crops.
A third plank of the government's announcement was an expanded public transport network, including a link from the Perth city centre to the airport, light rail and tram routes, and the extension of existing railway lines.
Mr Carpenter also restated Labor's commitment not to mine WA uranium after the Australian Workers Union and former NSW premier Bob Carr said it was time for the ALP to drop its long standing opposition to nuclear power.
"No nuclear power, no nuclear waste, no uranium mining in Western Australia," Mr Carpenter said.
With an election looming, the premier also used his speech to attack the state opposition for what he says has been an appalling lack of leadership over the energy crisis.
Last week, the opposition accused the government of misleading voters over their efforts to reduce household power, claiming on 2.34 per cent of the state's gas supply was consumed by domestic users.
The Liberals also called for greater accountability over public information, after the Office for Energy issued disclaimers on public facts sheets.
"We don't want that sort of immature stupidity from our political opponents," Mr Carpenter said.
At the Australian Labor Party's state conference in Perth Mr Carpenter has used the backdrop of the energy supply crisis to announce new projects in renewable energy and public transport.
The $13 million solar power station will supply 1.77 mega watts of electricity to around 500 homes in the Goldfields town.
The state will also fund research into a harvesting machine for oil mallee trees, a bio-energy source that can be grown alongside conventional cereal crops.
A third plank of the government's announcement was an expanded public transport network, including a link from the Perth city centre to the airport, light rail and tram routes, and the extension of existing railway lines.
Mr Carpenter also restated Labor's commitment not to mine WA uranium after the Australian Workers Union and former NSW premier Bob Carr said it was time for the ALP to drop its long standing opposition to nuclear power.
"No nuclear power, no nuclear waste, no uranium mining in Western Australia," Mr Carpenter said.
With an election looming, the premier also used his speech to attack the state opposition for what he says has been an appalling lack of leadership over the energy crisis.
Last week, the opposition accused the government of misleading voters over their efforts to reduce household power, claiming on 2.34 per cent of the state's gas supply was consumed by domestic users.
The Liberals also called for greater accountability over public information, after the Office for Energy issued disclaimers on public facts sheets.
"We don't want that sort of immature stupidity from our political opponents," Mr Carpenter said.
Evolution Solar to Acquire Hong Kong-Based R&D Company
GILBERT, Ariz.--(BUSINESS WIRE)--Evolution Solar Corp. (OTC:EVSO) signed a Letter of Intent to acquire a Hong Kong based R&D and Procurement Company. Evolution Solar most recently announced its plans to develop alternative energy technologies using thin film solar panels.
“The process of purchasing of the Hong Kong-based R&D Company is tracking well,” stated Robert Kaapke, CEO of Evolution Solar. “We believe better engineering and technological innovations are the keys to delivering increasingly cost effective solar panels.”
Evolution Solar is planning to establish a footprint with the manufacturing capabilities in the Asian markets that can assist in the reduction in the manufacturing and procurement of materials in the heavy technology manufacturing providence of Shanghai, China.
China, which passed a landmark renewable energy law in January 2007, has pledged to spend some $200 billion over the next 15 years on renewable energy. The goal: Achieve 20 percent total energy consumption from green fuel sources.
China's interest in renewables has translated into a rapidly expanding base of at least a dozen publicly held domestic solar energy and wind energy concerns, among them: Solarfun Power Holdings (NASDAQ:SOLF) and JA Solar Holdings (NASDAQ:JASO).
Having captured a good portion of the wind market, General Electric Co’s (NYSE:GE) energy division, GE Energy, has announced its entry into the solar market with GAF Materials Corp. GAF is North America's largest manufacturer of residential and commercial roofing, with more than 12,000 contractors.
Exxon Mobil (NYSE:XOM) projects that by 2030, global energy demand will be 40 percent higher than in 2005. In developing countries such as those in Asia-Pacific, per capita energy use is expected to soar by 70 percent by 2030.
“The process of purchasing of the Hong Kong-based R&D Company is tracking well,” stated Robert Kaapke, CEO of Evolution Solar. “We believe better engineering and technological innovations are the keys to delivering increasingly cost effective solar panels.”
Evolution Solar is planning to establish a footprint with the manufacturing capabilities in the Asian markets that can assist in the reduction in the manufacturing and procurement of materials in the heavy technology manufacturing providence of Shanghai, China.
China, which passed a landmark renewable energy law in January 2007, has pledged to spend some $200 billion over the next 15 years on renewable energy. The goal: Achieve 20 percent total energy consumption from green fuel sources.
China's interest in renewables has translated into a rapidly expanding base of at least a dozen publicly held domestic solar energy and wind energy concerns, among them: Solarfun Power Holdings (NASDAQ:SOLF) and JA Solar Holdings (NASDAQ:JASO).
Having captured a good portion of the wind market, General Electric Co’s (NYSE:GE) energy division, GE Energy, has announced its entry into the solar market with GAF Materials Corp. GAF is North America's largest manufacturer of residential and commercial roofing, with more than 12,000 contractors.
Exxon Mobil (NYSE:XOM) projects that by 2030, global energy demand will be 40 percent higher than in 2005. In developing countries such as those in Asia-Pacific, per capita energy use is expected to soar by 70 percent by 2030.
Akeena Awarded Innovative Home Technology Award
LOS GATOS, Calif.--(BUSINESS WIRE)--Akeena Solar (NASDAQ:AKNS), one of the United States’ largest solar installers, today announced that its Andalay solar panel won the Innovative Home Technology Award in the Alternative Energy category from TecHome Builder Magazine. A panel of housing industry experts singled out the sleek, high-performance solar panel from six finalists. This win follows the conclusion of the Pacific Coast Builders’ Conference (PCBC), where Andalay was also honored with an award as one of the conference’s overall 15 Cool Products.
In its eighth year, the Innovative Home Technology Award recognizes significant advances and best practices by manufacturers, integrators and builders in technology development and implementation. More than 110 products and companies were submitted—the highest in competition history.
“We are thrilled that one of the most prestigious housing technology competitions recognized Akeena’s Andalay solar power systems as the best alternative energy innovation in the industry,” said Gary Mull, vice president of marketing at Akeena Solar. “As the green building industry grows and electricity prices skyrocket, homeowners are turning to alternative energy to reduce utility costs and their green house gas. Andalay offers a reliable, high performance solar power system that is beautiful, sleek and elegant. Homeowners are no longer stuck with bulky, ordinary systems that clash with the design of their homes.”
Andalay debuted in September 2007. Based on Akeena Solar’s years of installation experience, the Andalay panels streamline installation processes by incorporating the racking and electrical wiring into the panels themselves. This breakthrough design eliminates 70 percent of the parts and reduces 25 percent or more of rooftop penetrations often found in ordinary rack-mounted installations. In addition, Andalay averts installation complexities and protects electrical wires from weather exposure—both deficiencies of ordinary systems that affect the overall performance over its 25-year life.
In its eighth year, the Innovative Home Technology Award recognizes significant advances and best practices by manufacturers, integrators and builders in technology development and implementation. More than 110 products and companies were submitted—the highest in competition history.
“We are thrilled that one of the most prestigious housing technology competitions recognized Akeena’s Andalay solar power systems as the best alternative energy innovation in the industry,” said Gary Mull, vice president of marketing at Akeena Solar. “As the green building industry grows and electricity prices skyrocket, homeowners are turning to alternative energy to reduce utility costs and their green house gas. Andalay offers a reliable, high performance solar power system that is beautiful, sleek and elegant. Homeowners are no longer stuck with bulky, ordinary systems that clash with the design of their homes.”
Andalay debuted in September 2007. Based on Akeena Solar’s years of installation experience, the Andalay panels streamline installation processes by incorporating the racking and electrical wiring into the panels themselves. This breakthrough design eliminates 70 percent of the parts and reduces 25 percent or more of rooftop penetrations often found in ordinary rack-mounted installations. In addition, Andalay averts installation complexities and protects electrical wires from weather exposure—both deficiencies of ordinary systems that affect the overall performance over its 25-year life.
Solarfun Announces New Business Developments
SHANGHAI, China--(BUSINESS WIRE)--Solarfun Power Holdings Co., Ltd. (“Solarfun” or “the Company”) (NASDAQ:SOLF), an established vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today announced several major business developments. Jiangsu Linyang Solarfun Co., Ltd, a 100% subsidiary of Solarfun (“Linyang Solarfun”), has entered into a long-term polysilicon supply agreement with Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., a subsidiary of GCL Silicon Technology Holdings Ltd. (“GCL Silicon Technology”'). Solarfun has also entered into an agreement to purchase the remaining 48% stake in Jiangsu Yangguang Solar that it did not own.
Long-term Supply Agreement with GCL Silicon Technology
Under an agreement dated June 22, 2008, GCL Silicon Technology will supply Solarfun with virgin polysilicon sufficient to produce approximately 1.2 gigawatts (“GW”) of solar modules in aggregate over eight years. Deliveries begin immediately. This agreement provides further security for the Company’s ability to meet its polysilicon needs and reach its target of 160 to 180 MW of module shipments in 2008.
Harold Hoskens, Chief Executive Officer of Solarfun, commented, “This agreement is an important addition to Solarfun’s existing supply arrangements for silicon-related materials. The agreement helps improve visibility of our long-term polysilicon supply and strengthens our ability to execute our vertical integration strategy. The new supply will help reduce our costs, improve our quality, and allow us to gain greater control over our future delivery schedule and better leverage our recent wire saw investment.”
Hunter Jiang, CEO of GCL Silicon Technology noted, “We are very happy to sign this contract with Solarfun. We already have a good relationship with them and we look forward to building on this in the coming years. We plan to continue to expand our production capacity in order to meet the growing demands of our customers.”
Solarfun Purchases Remaining 48% Stake in Jiangsu Yangguang Solar
On June 23, 2008, Linyang Solarfun also entered into an agreement to acquire the remaining 48% equity interest in Jiangsu Yangguang Solar Technology Co. Ltd. (“Yangguang Solar”) from Nantong Linyang Electric Power Investment Co., Ltd. (“Linyang Electric”) (as to 18%), Jiangsu Qitian Group Co., Ltd. (as to 20%), and Jiangsu Guangyi Technology Co., Ltd. (as to 10%) for an aggregate consideration of approximately RMB355 million (US$51.5 million1), to be paid in installments. As Linyang Electric is 70% owned by Solarfun’s founder, Chairman and significant shareholder, Mr. Yonghua Lu, this transaction was also separately approved by the Company’s audit committee, which is composed entirely of independent directors. Linyang Solarfun had previously acquired a 52% equity interest in Yangguang Solar Linyang Electric in August 2007. The latest agreement will allow Linyang Solarfun to acquire the remaining stake and take full control of the company. Formal completion of the transaction is subject to customary due diligence and closing procedures.
Yangguang Solar is engaged in silicon ingot production. It is expected to rapidly expand production capacity to 200MW by year-end 2008 and 300MW by year-end 2009.
“This agreement is a significant development for Solarfun,” said Mr. Hoskens. “It is key to further advancing the execution of our vertical integration strategy. It will better enable Solarfun to align silicon specifications and quality along the value chain to bring the best value products to our customers. In the time that we have been involved with Yangguang Solar, we have been impressed with both its ability to ramp up capacity and its ingot quality. Bringing together the capabilities of the teams from both Yangguang Solar and Solarfun will allow us to better serve our customers.”
Long-term Supply Agreement with GCL Silicon Technology
Under an agreement dated June 22, 2008, GCL Silicon Technology will supply Solarfun with virgin polysilicon sufficient to produce approximately 1.2 gigawatts (“GW”) of solar modules in aggregate over eight years. Deliveries begin immediately. This agreement provides further security for the Company’s ability to meet its polysilicon needs and reach its target of 160 to 180 MW of module shipments in 2008.
Harold Hoskens, Chief Executive Officer of Solarfun, commented, “This agreement is an important addition to Solarfun’s existing supply arrangements for silicon-related materials. The agreement helps improve visibility of our long-term polysilicon supply and strengthens our ability to execute our vertical integration strategy. The new supply will help reduce our costs, improve our quality, and allow us to gain greater control over our future delivery schedule and better leverage our recent wire saw investment.”
Hunter Jiang, CEO of GCL Silicon Technology noted, “We are very happy to sign this contract with Solarfun. We already have a good relationship with them and we look forward to building on this in the coming years. We plan to continue to expand our production capacity in order to meet the growing demands of our customers.”
Solarfun Purchases Remaining 48% Stake in Jiangsu Yangguang Solar
On June 23, 2008, Linyang Solarfun also entered into an agreement to acquire the remaining 48% equity interest in Jiangsu Yangguang Solar Technology Co. Ltd. (“Yangguang Solar”) from Nantong Linyang Electric Power Investment Co., Ltd. (“Linyang Electric”) (as to 18%), Jiangsu Qitian Group Co., Ltd. (as to 20%), and Jiangsu Guangyi Technology Co., Ltd. (as to 10%) for an aggregate consideration of approximately RMB355 million (US$51.5 million1), to be paid in installments. As Linyang Electric is 70% owned by Solarfun’s founder, Chairman and significant shareholder, Mr. Yonghua Lu, this transaction was also separately approved by the Company’s audit committee, which is composed entirely of independent directors. Linyang Solarfun had previously acquired a 52% equity interest in Yangguang Solar Linyang Electric in August 2007. The latest agreement will allow Linyang Solarfun to acquire the remaining stake and take full control of the company. Formal completion of the transaction is subject to customary due diligence and closing procedures.
Yangguang Solar is engaged in silicon ingot production. It is expected to rapidly expand production capacity to 200MW by year-end 2008 and 300MW by year-end 2009.
“This agreement is a significant development for Solarfun,” said Mr. Hoskens. “It is key to further advancing the execution of our vertical integration strategy. It will better enable Solarfun to align silicon specifications and quality along the value chain to bring the best value products to our customers. In the time that we have been involved with Yangguang Solar, we have been impressed with both its ability to ramp up capacity and its ingot quality. Bringing together the capabilities of the teams from both Yangguang Solar and Solarfun will allow us to better serve our customers.”
Friday, June 27, 2008
Japan To Push Solar Power In Homes
The Japanese government will come up with measures on Tuesday to promote the household use of solar power systems by introducing subsidies and tax breaks from next year, the Nikkei financial daily reported on Sunday.
The paper said the steps, following an environment initiative announced earlier by Prime Minister Yasuo Fukuda, include halving the cost of buying solar power systems in Japan, home to major solar component makers.
These include Sharp Corp, Kyocera Corp and Sanyo Electric Co.
The government also aims to introduce new legislation next year to require oil and gas firms to use a certain amount of cleaner energy, such as biofuels, from 2010 when making petroleum products and providing gas, Nikkei reported.
The paper said details of subsidies and tax cuts would be decided by the end of August, the deadline for budget requests by government offices for the next fiscal year starting on April 1.
The measures are expected to help cut the cost of a solar power system, which now sells for about 2.3 million yen ($21,440), to 1.1 million yen in three to five years, it added.
A senior official at the Ministry of Economy, Trade and Industry (METI) declined to comment on the report but said the ministry would receive "urgent recommendations" from its panel tasked with discussing clean energy on Tuesday.
The prime minister, aiming to take the lead in the fight against climate change as host of the Group of Eight leaders' summit next month, unveiled on June 9 a long-term goal to cut greenhouse gas emissions by 60-80 percent from current levels by 2050.
The initiative, including an aim to have more than 70% of newly built houses equipped with solar panels by 2020, prompted the call for drastic measures to accelerate the use of new energies, Nikkei reported.
Japan imports most of its fuel and oil and gas account for more than half of all its energy consumption.
Faced with soaring crude oil prices, the government wants to trim its reliance on fossil fuels, in addition to improving its green credentials, the paper said.
The paper said the steps, following an environment initiative announced earlier by Prime Minister Yasuo Fukuda, include halving the cost of buying solar power systems in Japan, home to major solar component makers.
These include Sharp Corp, Kyocera Corp and Sanyo Electric Co.
The government also aims to introduce new legislation next year to require oil and gas firms to use a certain amount of cleaner energy, such as biofuels, from 2010 when making petroleum products and providing gas, Nikkei reported.
The paper said details of subsidies and tax cuts would be decided by the end of August, the deadline for budget requests by government offices for the next fiscal year starting on April 1.
The measures are expected to help cut the cost of a solar power system, which now sells for about 2.3 million yen ($21,440), to 1.1 million yen in three to five years, it added.
A senior official at the Ministry of Economy, Trade and Industry (METI) declined to comment on the report but said the ministry would receive "urgent recommendations" from its panel tasked with discussing clean energy on Tuesday.
The prime minister, aiming to take the lead in the fight against climate change as host of the Group of Eight leaders' summit next month, unveiled on June 9 a long-term goal to cut greenhouse gas emissions by 60-80 percent from current levels by 2050.
The initiative, including an aim to have more than 70% of newly built houses equipped with solar panels by 2020, prompted the call for drastic measures to accelerate the use of new energies, Nikkei reported.
Japan imports most of its fuel and oil and gas account for more than half of all its energy consumption.
Faced with soaring crude oil prices, the government wants to trim its reliance on fossil fuels, in addition to improving its green credentials, the paper said.
West Bengal Gets India's Largest Solar Power Project
Asansol (West Bengal), June 22 (IANS) The country's first grid-connected 2 MW solar power project will start functioning here from December, West Bengal Green Energy Development Corp (WBGEDC) managing director S.P. Gon Choudhuri said Sunday.
Laying the foundation stone of the photovoltaic plant, Choudhuri said: 'West Bengal is the first state in India to undertake a solar power project of such a scale.'
The WBGEDC is executing the Rs.400 million ($9.5 million) project at the Dishergarh Power Station Complex (DPSC) in this Burdwan district town of southern West Bengal. The company is planning to take Rs.309 million loan from Power Finance Corp (PFC) for the project.
Choudhuri said West Bengal started working on solar energy since 1983 with the first plant generating 30 watt.
'After 25 years, we now have the capacity to generate 2 MW from solar energy from a single project,' he added.
'DPSC, which has provided a little over eight acres for the plant, will buy the entire generation of about three million units per year at Rs.5 per unit. The central government will pay a generation-based incentive of Rs.10 per unit,' Choudhuri said.
The central incentive would offset the entire PFC loan over 10 years, he added.
He said states like Punjab, Rajasthan and Gujarat have shown interest in setting up similar projects. 'They have asked the WBGEDC to help them with detailed project report and regulatory measures so that they can replicate such projects in their states.'
Expressing optimism about the future of green energy, Choudhuri said by 2030 India would require 800,000 MW of power, of which a maximum of 500,000 to 600,000 MW would come from conventional, nuclear and hydel sources.
West Bengal Power Minister Mrinal Banerjee said the state has received a proposal to set up a 1,000 tonne per annum polysilicon plant. Polysilicon, when used in a solar power plant, will have the capability to generate 1,200 MW solar power.
New and Renewable Energy Secretary V. Subramanian said although the cost of producing green power was quite high now, it would be at par with conventional energy costs by 2017.
The WBGEDC is promoted by the state government for promotion and development of grid-connected renewable sources of energy. It is implementing renewable energy programmes of the central and state governments.
Laying the foundation stone of the photovoltaic plant, Choudhuri said: 'West Bengal is the first state in India to undertake a solar power project of such a scale.'
The WBGEDC is executing the Rs.400 million ($9.5 million) project at the Dishergarh Power Station Complex (DPSC) in this Burdwan district town of southern West Bengal. The company is planning to take Rs.309 million loan from Power Finance Corp (PFC) for the project.
Choudhuri said West Bengal started working on solar energy since 1983 with the first plant generating 30 watt.
'After 25 years, we now have the capacity to generate 2 MW from solar energy from a single project,' he added.
'DPSC, which has provided a little over eight acres for the plant, will buy the entire generation of about three million units per year at Rs.5 per unit. The central government will pay a generation-based incentive of Rs.10 per unit,' Choudhuri said.
The central incentive would offset the entire PFC loan over 10 years, he added.
He said states like Punjab, Rajasthan and Gujarat have shown interest in setting up similar projects. 'They have asked the WBGEDC to help them with detailed project report and regulatory measures so that they can replicate such projects in their states.'
Expressing optimism about the future of green energy, Choudhuri said by 2030 India would require 800,000 MW of power, of which a maximum of 500,000 to 600,000 MW would come from conventional, nuclear and hydel sources.
West Bengal Power Minister Mrinal Banerjee said the state has received a proposal to set up a 1,000 tonne per annum polysilicon plant. Polysilicon, when used in a solar power plant, will have the capability to generate 1,200 MW solar power.
New and Renewable Energy Secretary V. Subramanian said although the cost of producing green power was quite high now, it would be at par with conventional energy costs by 2017.
The WBGEDC is promoted by the state government for promotion and development of grid-connected renewable sources of energy. It is implementing renewable energy programmes of the central and state governments.
Wednesday, June 25, 2008
Evergreen Solar To Raise $300 Million For Expansion Project
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (“Evergreen Solar”) (Nasdaq: ESLR), a manufacturer of solar power panels, announced today that it has filed a universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (the “SEC”) pursuant to which it intends to offer, subject to market and other conditions, $300 million aggregate principal amount of senior convertible notes due 2013 (the “notes”). Evergreen Solar expects to grant to the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to an additional $45 million aggregate principal amount of notes to the extent the underwriters sell more than $300 million aggregate principal amount of notes in the note offering.
The notes will be convertible into cash up to their principal amount and shares of Evergreen Solar’s common stock for the remainder, if any, of the conversion value in excess of such principal amount. The interest rate, conversion rate, conversion price, offering price and other terms of the notes will be determined at the time of pricing of the notes. Lehman Brothers Inc. is acting as the sole book-running manager for the notes offering.
Evergreen Solar intends to use the net proceeds from the notes offering, after deducting underwriting discounts and Evergreen Solar’s estimated expenses related to the offering, including the cost of the capped call transaction and registered sale of borrowed shares of common stock described below, to complete the construction and equipping of its fully integrated solar panel manufacturing facility located in Devens, Massachusetts, to begin construction of a manufacturing facility that will produce heat resistant string to be used in the manufacturing of Evergreen Solar’s wafers and for general corporate purposes, including purchases of or prepayments for polysilicon and other raw materials, and working capital needs.
The notes will be convertible into cash up to their principal amount and shares of Evergreen Solar’s common stock for the remainder, if any, of the conversion value in excess of such principal amount. The interest rate, conversion rate, conversion price, offering price and other terms of the notes will be determined at the time of pricing of the notes. Lehman Brothers Inc. is acting as the sole book-running manager for the notes offering.
Evergreen Solar intends to use the net proceeds from the notes offering, after deducting underwriting discounts and Evergreen Solar’s estimated expenses related to the offering, including the cost of the capped call transaction and registered sale of borrowed shares of common stock described below, to complete the construction and equipping of its fully integrated solar panel manufacturing facility located in Devens, Massachusetts, to begin construction of a manufacturing facility that will produce heat resistant string to be used in the manufacturing of Evergreen Solar’s wafers and for general corporate purposes, including purchases of or prepayments for polysilicon and other raw materials, and working capital needs.
Suniva Secures Solar Wafer Supply Agreement with REC Through 2013
ATLANTA--(BUSINESS WIRE)--Suniva Inc., a manufacturer of high value crystalline silicon solar cells, has signed a long-term agreement with REC, the world’s largest producer of polysilicon and wafers for solar applications. The contract ensures Suniva access to more than $300 million worth of monocrystalline silicon wafers over the next five years for use at the company’s new high volume production facility in Georgia.
“This contract is aligned with our increasing presence in the high efficiency monocrystalline cell segment and comes in addition to the significant contract portfolio signed to date,” said Erik Thorsen, president and CEO of REC. Ingelise Arntsen, EVP of REC Wafer added, “We look forward to work with the technical team of Dr. Ajeet Rohatgi to further improve the performance of monocrystalline silicon cells.”
REC is significantly expanding its monocrystalline silicon wafer capacity in Norway as Suniva scales its manufacturing operations in the United States. Suniva’s facility, announced earlier this month, will have an initial capacity of 32 megawatts (MW) on its first line, with additional lines planned to produce more than 130 MW over the next two years.
“Suniva is building its brand based on our company’s high value solar cells, which achieve increased conversion efficiency while maintaining low costs. Our long-term supply agreement with REC, a respected global market leader, cements Suniva’s position at the forefront of the US-based solar cell manufacturing market,” said Suniva CEO John Baumstark.
About REC
REC is uniquely positioned as one of the most integrated companies in the solar energy industry. REC Silicon and REC Wafer are the world's largest producers of polysilicon and wafers for solar applications. REC Solar produces solar cells and solar modules and engage in project development activities in selected segments of the PV market. REC Group had revenues in 2007 of NOK 6,642 million and an operating profit of NOK 2,588 million. Please also see www.recgroup.com
About Suniva
Based in Atlanta, Suniva develops, manufactures and markets high-value crystalline silicon photovoltaic (PV) cells for clean solar power generation. The company has an exclusive license to critical patents and patent-pending intellectual property developed by founder and CTO Dr. Ajeet Rohatgi at the Georgia Institute of Technology’s University Center of Excellence in Photovoltaics, the nation’s premier silicon PV research center. In addition, the company’s deep process know-how and unique approach to manufacturing delivers leading solar cell performance while dramatically cutting the cost of PV-generated electricity. For additional information, please visit http://www.suniva.com.
“This contract is aligned with our increasing presence in the high efficiency monocrystalline cell segment and comes in addition to the significant contract portfolio signed to date,” said Erik Thorsen, president and CEO of REC. Ingelise Arntsen, EVP of REC Wafer added, “We look forward to work with the technical team of Dr. Ajeet Rohatgi to further improve the performance of monocrystalline silicon cells.”
REC is significantly expanding its monocrystalline silicon wafer capacity in Norway as Suniva scales its manufacturing operations in the United States. Suniva’s facility, announced earlier this month, will have an initial capacity of 32 megawatts (MW) on its first line, with additional lines planned to produce more than 130 MW over the next two years.
“Suniva is building its brand based on our company’s high value solar cells, which achieve increased conversion efficiency while maintaining low costs. Our long-term supply agreement with REC, a respected global market leader, cements Suniva’s position at the forefront of the US-based solar cell manufacturing market,” said Suniva CEO John Baumstark.
About REC
REC is uniquely positioned as one of the most integrated companies in the solar energy industry. REC Silicon and REC Wafer are the world's largest producers of polysilicon and wafers for solar applications. REC Solar produces solar cells and solar modules and engage in project development activities in selected segments of the PV market. REC Group had revenues in 2007 of NOK 6,642 million and an operating profit of NOK 2,588 million. Please also see www.recgroup.com
About Suniva
Based in Atlanta, Suniva develops, manufactures and markets high-value crystalline silicon photovoltaic (PV) cells for clean solar power generation. The company has an exclusive license to critical patents and patent-pending intellectual property developed by founder and CTO Dr. Ajeet Rohatgi at the Georgia Institute of Technology’s University Center of Excellence in Photovoltaics, the nation’s premier silicon PV research center. In addition, the company’s deep process know-how and unique approach to manufacturing delivers leading solar cell performance while dramatically cutting the cost of PV-generated electricity. For additional information, please visit http://www.suniva.com.
SAS Greenlights 1-Megawatt Solar Power Farm
CARY, N.C.--(BUSINESS WIRE)--SAS, the leader in business intelligence and analytics software, working with Progress Energy Carolinas (NYSE: PGN) and SunPower Corp. (Nasdaq: SPWR), will develop a solar electric power farm on the company’s Cary, NC, headquarters campus. Scheduled to go online in late 2008, the project is the latest in the company’s continuing sustainability efforts to conserve environmental resources.
“I’m fortunate to participate in global business forums with some of the world's finest corporate and government leaders. Without fail, the environment ranks among their top concerns. Additionally, our employees and customers expect us to be responsible corporate citizens. This solar farm is one small gesture among many green initiatives within SAS to diminish the impact on our environment,” said SAS CEO Jim Goodnight. “Future generations depend on us to do the right thing today."
Covering five acres, the 1-megawatt photovoltaic (PV) solar array will feature SunPower® Tracker solar tracking systems. The Tracker tilts toward the sun as it moves across the sky, increasing energy capture by up to 25 percent over fixed systems while reducing land-use requirements. SAS’ solar farm is estimated to generate 1.7 million kilowatt-hours (kWh) per year, reducing carbon dioxide emissions by over 1,600 tons annually. This is equivalent to the carbon dioxide emissions from the consumption of more than 167,000 gallons of gasoline.
"This project is a perfect example of the kind of innovation and leadership our state needs to expand the important role of renewable energy," said Lloyd M. Yates, President and CEO of Progress Energy Carolinas. "Progress Energy is moving forward aggressively and cost-effectively on renewable and alternative energy projects as part of a balanced strategy for meeting the needs of our growing region. We're proud to be part of this milestone. Our hope is that this project, and the partnership and collaboration it represents, will be a model and catalyst for many more like it."
The North Carolina Solar Center at North Carolina State University collaborated with SAS on the initial feasibility study and will continue to help identify best practices and share information as the project progresses.
Under North Carolina’s Renewable Energy and Energy Efficiency Portfolio Standard (REPS) utility companies must obtain up to 12.5 percent of their energy through renewable resources or energy efficiency measures by 2021. They must also begin including solar-generated energy by 2010. SAS’ solar array, which will be one of the largest of its kind in the southeastern US, is the largest PV project announced in Progress Energy’s service area since North Carolina’s energy law took effect in 2007. SunPower will build the solar array; Progress Energy will purchase the Renewable Energy Certificates (RECs) and electricity generated by the solar farm for use on the public energy grid.
“By using high-efficiency SunPower solar technology, SAS and Progress Energy are maximizing both their financial returns and the environmental benefits of this installation,” said Tom Werner, Chief Executive Officer of SunPower. “They are demonstrating leadership in the region by addressing local energy needs with clean, renewable solar power.”
“I’m fortunate to participate in global business forums with some of the world's finest corporate and government leaders. Without fail, the environment ranks among their top concerns. Additionally, our employees and customers expect us to be responsible corporate citizens. This solar farm is one small gesture among many green initiatives within SAS to diminish the impact on our environment,” said SAS CEO Jim Goodnight. “Future generations depend on us to do the right thing today."
Covering five acres, the 1-megawatt photovoltaic (PV) solar array will feature SunPower® Tracker solar tracking systems. The Tracker tilts toward the sun as it moves across the sky, increasing energy capture by up to 25 percent over fixed systems while reducing land-use requirements. SAS’ solar farm is estimated to generate 1.7 million kilowatt-hours (kWh) per year, reducing carbon dioxide emissions by over 1,600 tons annually. This is equivalent to the carbon dioxide emissions from the consumption of more than 167,000 gallons of gasoline.
"This project is a perfect example of the kind of innovation and leadership our state needs to expand the important role of renewable energy," said Lloyd M. Yates, President and CEO of Progress Energy Carolinas. "Progress Energy is moving forward aggressively and cost-effectively on renewable and alternative energy projects as part of a balanced strategy for meeting the needs of our growing region. We're proud to be part of this milestone. Our hope is that this project, and the partnership and collaboration it represents, will be a model and catalyst for many more like it."
The North Carolina Solar Center at North Carolina State University collaborated with SAS on the initial feasibility study and will continue to help identify best practices and share information as the project progresses.
Under North Carolina’s Renewable Energy and Energy Efficiency Portfolio Standard (REPS) utility companies must obtain up to 12.5 percent of their energy through renewable resources or energy efficiency measures by 2021. They must also begin including solar-generated energy by 2010. SAS’ solar array, which will be one of the largest of its kind in the southeastern US, is the largest PV project announced in Progress Energy’s service area since North Carolina’s energy law took effect in 2007. SunPower will build the solar array; Progress Energy will purchase the Renewable Energy Certificates (RECs) and electricity generated by the solar farm for use on the public energy grid.
“By using high-efficiency SunPower solar technology, SAS and Progress Energy are maximizing both their financial returns and the environmental benefits of this installation,” said Tom Werner, Chief Executive Officer of SunPower. “They are demonstrating leadership in the region by addressing local energy needs with clean, renewable solar power.”
Fluor’s LDK Solar Plant Reaches Safety Milestone
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today its polysilicon project in China for LDK Solar (NYSE: LDK), the world-class solar wafer manufacturer, logged more than 2 million craft hours without a single safety incident effective through the end of April 2008. The LDK Polysilicon manufacturing facility, when complete, will be the largest polysilicon production facility of its kind in the world.
“This is a major accomplishment for everybody involved. Due to the large scope of this project, a considerable labor force is needed, and with the project expected to peak near 8,000 workers, it is essential to pay especial attention to safety,” said Ken Choudhary, vice president of Fluor’s chemicals business line.
The company implemented its “Zero Incident” program to educate employees and make them more aware of safe habits for work. Fluor applies this program to every project across the globe.
The completed facility will be located in Xinyu City, Jiangxi, China, near LDK’s already existing solar wafer manufacturing facilities and headquarters. Construction began in August 2007 with an expected completion date of mid-2009.
Fluor is providing front-end engineering and design (FEED) and engineering, procurement, and construction-management (EPCM) services for the $1 billion project.
The growing demand for polysilicon-based renewable energy resources throughout the globe, coupled with Fluor’s world-class project management capabilities, has contributed to the company becoming a world leader in the polysilicon new-build arena. Fluor’s participation in the LDK project, as well as several other polysilicon projects all over the world, serves as evidence of the firm’s engineering-construction leadership in this growing market.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $16.7 billion in 2007. For more information, visit www.fluor.com.
“This is a major accomplishment for everybody involved. Due to the large scope of this project, a considerable labor force is needed, and with the project expected to peak near 8,000 workers, it is essential to pay especial attention to safety,” said Ken Choudhary, vice president of Fluor’s chemicals business line.
The company implemented its “Zero Incident” program to educate employees and make them more aware of safe habits for work. Fluor applies this program to every project across the globe.
The completed facility will be located in Xinyu City, Jiangxi, China, near LDK’s already existing solar wafer manufacturing facilities and headquarters. Construction began in August 2007 with an expected completion date of mid-2009.
Fluor is providing front-end engineering and design (FEED) and engineering, procurement, and construction-management (EPCM) services for the $1 billion project.
The growing demand for polysilicon-based renewable energy resources throughout the globe, coupled with Fluor’s world-class project management capabilities, has contributed to the company becoming a world leader in the polysilicon new-build arena. Fluor’s participation in the LDK project, as well as several other polysilicon projects all over the world, serves as evidence of the firm’s engineering-construction leadership in this growing market.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $16.7 billion in 2007. For more information, visit www.fluor.com.
Thursday, June 19, 2008
Opel Energy To Provide Solar To Connecticut Schools
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - June 18, 2008) - OPEL International (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global developer and supplier of concentrating photovoltaic panels (CPVs), today announced that it has entered into an agreement with the Town of Plainville, CT, under which OPEL will install solar power panels on the roof of Linden Street School.
Under this innovative 20-year program, OPEL will own and operate the installation and sell clean electricity to the Town at rates below those currently being paid, with no capital costs incurred by the Town.
"Plainville is thrilled to be a leading town in Connecticut introducing a solar power program for its schools," said Robert Lee, Plainville Town Manager. "Not only are we reducing our electricity costs, we're making a meaningful contribution to environmentally responsible energy consumption. We look forward to broadening our use of this innovative program and technology."
"This agreement is the result of a concerted effort by Plainville's leadership to incorporate clean solar power in our jurisdiction," said Jason Rupaka, a member of Plainville's town council. "I look forward to bringing this program to other schools and municipal buildings in our community."
"We're very excited about this initial installation, which represents a very attractive way for municipalities to reduce electricity costs in an environmentally responsible manner," said Bob Malton, Manager of Business Development for OPEL. "We believe this is a template for a potential large scale program of similar installations that present a great win-win solution for both OPEL and municipalities across Connecticut and elsewhere."
The solar panels, which OPEL sources under an agreement with Solarfun Power Holding Co. Ltd., are listed with both UL (Underwriters Laboratories Inc.) and California's Energy Commission, making them eligible to participate in the solar incentive programs of various states in the US. OPEL integrates the panels with its product line of solar trackers, resulting in an increase of up to 40% in the power output of the panels when compared with fixed mounted installations. This combination results in a faster payback and lower kilowatt-hour costs.
Under this innovative 20-year program, OPEL will own and operate the installation and sell clean electricity to the Town at rates below those currently being paid, with no capital costs incurred by the Town.
"Plainville is thrilled to be a leading town in Connecticut introducing a solar power program for its schools," said Robert Lee, Plainville Town Manager. "Not only are we reducing our electricity costs, we're making a meaningful contribution to environmentally responsible energy consumption. We look forward to broadening our use of this innovative program and technology."
"This agreement is the result of a concerted effort by Plainville's leadership to incorporate clean solar power in our jurisdiction," said Jason Rupaka, a member of Plainville's town council. "I look forward to bringing this program to other schools and municipal buildings in our community."
"We're very excited about this initial installation, which represents a very attractive way for municipalities to reduce electricity costs in an environmentally responsible manner," said Bob Malton, Manager of Business Development for OPEL. "We believe this is a template for a potential large scale program of similar installations that present a great win-win solution for both OPEL and municipalities across Connecticut and elsewhere."
The solar panels, which OPEL sources under an agreement with Solarfun Power Holding Co. Ltd., are listed with both UL (Underwriters Laboratories Inc.) and California's Energy Commission, making them eligible to participate in the solar incentive programs of various states in the US. OPEL integrates the panels with its product line of solar trackers, resulting in an increase of up to 40% in the power output of the panels when compared with fixed mounted installations. This combination results in a faster payback and lower kilowatt-hour costs.
Akeena Solar Helps Irvine 'Go Green'
LOS GATOS, Calif.--(BUSINESS WIRE)--Akeena Solar, Inc. (NASDAQ:AKNS), a leading designer and installer of solar power systems, today announced Kevin Blake, Southern California Regional Sales Manager, will chair the Irvine Chamber of Commerce new “Go Green Committee.”
The city of Irvine has recently seen an upswing in solar interest, most notably with the recent deal to build a 1.2 megawatts system on the rooftops of University of California, Irvine. However, this committee marks the first attempt at a joint community effort to green the city.
Kevin Blake has a long history in the renewable energy industry with over twenty-five years of experience developing, marketing and selling products and service solutions in both consumer and commercial markets. His recent work for Akeena Solar has been an extension of his commitment to the solar industry.
“Being named Chair of the Go Green Committee is an absolute honor and a task I feel compelled to take on,” said Mr. Blake. “With green house gas rising, and gas and electricity prices skyrocketing residents are looking for ways to handle the problem. Our first and most important job is to spread awareness and education on the significance of renewable energy, and what it can do to solve these issues.”
The committee currently boasts more than 20 members, including Shawn Thompson, Environmental Programs Coordinator for the City of Irvine. The committee had its first meeting on June 17, 2008 and will have them monthly. As Chair, Mr. Blake, will continue to build out the committee’s membership and spearhead the creation of more specialized subcommittees.
“Having an Akeena Solar representative serve as chair of this committee is a real testament to the company’s dedication to community outreach,” said Jacquie Ellis, President and C.E.O. of the Irvine Chamber of Commerce. “We are delighted to have Mr. Blake on board and look forward to working closely with him to green the city of Irvine.”
The city of Irvine has recently seen an upswing in solar interest, most notably with the recent deal to build a 1.2 megawatts system on the rooftops of University of California, Irvine. However, this committee marks the first attempt at a joint community effort to green the city.
Kevin Blake has a long history in the renewable energy industry with over twenty-five years of experience developing, marketing and selling products and service solutions in both consumer and commercial markets. His recent work for Akeena Solar has been an extension of his commitment to the solar industry.
“Being named Chair of the Go Green Committee is an absolute honor and a task I feel compelled to take on,” said Mr. Blake. “With green house gas rising, and gas and electricity prices skyrocketing residents are looking for ways to handle the problem. Our first and most important job is to spread awareness and education on the significance of renewable energy, and what it can do to solve these issues.”
The committee currently boasts more than 20 members, including Shawn Thompson, Environmental Programs Coordinator for the City of Irvine. The committee had its first meeting on June 17, 2008 and will have them monthly. As Chair, Mr. Blake, will continue to build out the committee’s membership and spearhead the creation of more specialized subcommittees.
“Having an Akeena Solar representative serve as chair of this committee is a real testament to the company’s dedication to community outreach,” said Jacquie Ellis, President and C.E.O. of the Irvine Chamber of Commerce. “We are delighted to have Mr. Blake on board and look forward to working closely with him to green the city of Irvine.”
Evergreen Solar Books $600 Million in New Contracts
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power panels with its proprietary, low-cost String Ribbon™ wafer technology, announced it has signed two new long-term sales contracts valued at approximately $600 million with United States-based groSolar and German-based Wagner & Co Solartechnik GmbH. These contracts extend through 2012 and bring the company’s total contractual backlog to approximately $1.7 billion.
The solar panels for these two contracts and the two contracts previously announced in May will be manufactured at the company’s Devens, Massachusetts facility, which will begin panel production in July. These four contracts represent approximately 65 percent of the expected 160MW of annual production capacity at Devens through 2013. Evergreen Solar also has six other customer contracts with a current total backlog of approximately $850 million, which will primarily be supplied by EverQ, its German-based joint venture.
"The four multi-year contracts that we have signed in the last 30 days continue to validate that our String Ribbon technology combined with the features and functionality of our solar panel design, provides a compelling value proposition for our customers," said Richard M. Feldt, Evergreen Solar's chairman, president and chief executive officer. “We continue in discussions with other potential customers as we look to commit up to 75% of Devens capacity to long term contracts."
The solar panels for these two contracts and the two contracts previously announced in May will be manufactured at the company’s Devens, Massachusetts facility, which will begin panel production in July. These four contracts represent approximately 65 percent of the expected 160MW of annual production capacity at Devens through 2013. Evergreen Solar also has six other customer contracts with a current total backlog of approximately $850 million, which will primarily be supplied by EverQ, its German-based joint venture.
"The four multi-year contracts that we have signed in the last 30 days continue to validate that our String Ribbon technology combined with the features and functionality of our solar panel design, provides a compelling value proposition for our customers," said Richard M. Feldt, Evergreen Solar's chairman, president and chief executive officer. “We continue in discussions with other potential customers as we look to commit up to 75% of Devens capacity to long term contracts."
Habitat For Humanity Gets Some Solar Help From Their Friends
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Two families in Glendale, Arizona will begin saving money on their utility bills with solar technology in the coming weeks. Arizona-based American Solar Electric has donated equipment and installation services for two grid-tied solar electric (photovoltaic) systems to Habitat for Humanity Valley of the Sun.
Installed in early June, the systems are comprised of Kaneka thin-film silicon 60-watt panels which offer high performance under high temperatures. Electricity generated by the solar electric systems will be used to offset utility power, thereby reducing the cost of electricity for the new homeowners. Each system will produce over 2,500 kilowatt-hours of electricity per year.
“Our contribution today seems small compared to those that donated significant time and money to build the homes,” said Sean Seitz, President of American Solar Electric. “We’re proud to help the new homeowners. Undoubtedly they will recognize a significant contribution to their personal finances for years to come from the energy savings they obtain with their new solar electric systems.”
“Habitat for Humanity Valley of the Sun is pleased to partner with American Solar,” said Roger Schwierjohn, President and CEO of Habitat. “This partnership allows Habitat to continue the efforts to be an environmentally friendly builder and make our homes more affordable for families. Because of the generosity of American Solar, Habitat is once again able to progress in our efforts to be a responsible home builder.”
A dedication will be held on Saturday, June 21st to celebrate the completion of the homes. Both families are thrilled to be first-time homeowners.
Installed in early June, the systems are comprised of Kaneka thin-film silicon 60-watt panels which offer high performance under high temperatures. Electricity generated by the solar electric systems will be used to offset utility power, thereby reducing the cost of electricity for the new homeowners. Each system will produce over 2,500 kilowatt-hours of electricity per year.
“Our contribution today seems small compared to those that donated significant time and money to build the homes,” said Sean Seitz, President of American Solar Electric. “We’re proud to help the new homeowners. Undoubtedly they will recognize a significant contribution to their personal finances for years to come from the energy savings they obtain with their new solar electric systems.”
“Habitat for Humanity Valley of the Sun is pleased to partner with American Solar,” said Roger Schwierjohn, President and CEO of Habitat. “This partnership allows Habitat to continue the efforts to be an environmentally friendly builder and make our homes more affordable for families. Because of the generosity of American Solar, Habitat is once again able to progress in our efforts to be a responsible home builder.”
A dedication will be held on Saturday, June 21st to celebrate the completion of the homes. Both families are thrilled to be first-time homeowners.
REC Solar to Host Walnut Creek Solar Challenge
WALNUT CREEK, Calif.--(BUSINESS WIRE)--REC Solar, California’s leading solar installation company, announced its exciting new program today, The Walnut Creek Solar Challenge. This Challenge is expected to dramatically increase the amount of solar electricity generated by residents of the community. The innovative program combines community discounts with a donation of a solar electric system to The Ruth Bancroft Garden when the goal of 100 kilowatts of solar is reached. The Ruth Bancroft Garden is deservedly recognized as one of the finest dry gardens in the world. As The Garden prepares to celebrate the Centennial Birthday of its Founder, REC Solar is honoring Ruth by building on her vision of conservation to include energy as well as water.
According to Walnut Creek resident Stuart Rowley, “Walnut Creek residents have a unique opportunity to save money on a solar installation through this community discount program. At the same time, they can help benefit the Ruth Bancroft Garden, which gets a complimentary solar system if the program target is met. With this program, Walnut Creek residents can go solar now to help save energy, reduce CO2 emissions, save money on their energy bill, and help the Ruth Bancroft Garden – how sweet is that! This program gives the incentive to act now.”
“This may be the best chance for Walnut Creek residents to learn about solar and to take advantage of the community discount as well as state and federal incentives, which are rapidly decreasing or expiring,” said Matthew Woods, Director of Sales at REC Solar.
For those interested in learning more about this inspiring challenge, REC Solar will be hosting an educational seminar on Thursday, June 26th at the Shadelands Arts Center Auditorium at 111 N. Wiget Lane in Walnut Creek from 7:00p.m.-8:30p.m.
For more information, please contact Jay Hermon at jhermon@recsolar.com or (925) 324-9920 or visit www.wcsolarchallenge.blogspot.com.
According to Walnut Creek resident Stuart Rowley, “Walnut Creek residents have a unique opportunity to save money on a solar installation through this community discount program. At the same time, they can help benefit the Ruth Bancroft Garden, which gets a complimentary solar system if the program target is met. With this program, Walnut Creek residents can go solar now to help save energy, reduce CO2 emissions, save money on their energy bill, and help the Ruth Bancroft Garden – how sweet is that! This program gives the incentive to act now.”
“This may be the best chance for Walnut Creek residents to learn about solar and to take advantage of the community discount as well as state and federal incentives, which are rapidly decreasing or expiring,” said Matthew Woods, Director of Sales at REC Solar.
For those interested in learning more about this inspiring challenge, REC Solar will be hosting an educational seminar on Thursday, June 26th at the Shadelands Arts Center Auditorium at 111 N. Wiget Lane in Walnut Creek from 7:00p.m.-8:30p.m.
For more information, please contact Jay Hermon at jhermon@recsolar.com or (925) 324-9920 or visit www.wcsolarchallenge.blogspot.com.
Monday, June 16, 2008
Intel Spins Off Solar Unit
SANTA CLARA, Calif., June 16, 2008 – To spur new development and demand for renewable energy sources, Intel Corporation is spinning off key assets of a start-up business effort inside Intel's New Business Initiatives group to form an independent company called SpectraWatt Inc. Intel Capital, Intel's global investment organization, is leading a $50 million investment round in SpectraWatt and is joined by Cogentrix Energy, LLC, a wholly owned subsidiary of The Goldman Sachs Group, Inc., PCG Clean Energy and Technology Fund ("CETF") and Solon AG. The transaction is expected to close in the second quarter of 2008.
SpectraWatt will manufacture and supply photovoltaic cells to solar module makers. In addition to focusing on advanced solar cell technologies, SpectraWatt will concentrate development efforts on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation. SpectraWatt expects to break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008 with first product shipments expected by mid-2009.
"SpectraWatt is a great example of technology resulting from entrepreneurial efforts inside Intel," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "This is an important investment for Intel Capital in the growing cleantech sector and we look forward to working with the company to support its expansion."
Solar cells are the discrete components in a solar energy generation system responsible for converting sunlight to electricity. The end-user market segment for solar technology in 2007 was approximately $30 billion, a 50 percent increase from 2006, according to Photon Consulting. Solar industry growth of 30 to 40 percent annually is expected to continue in years to come as the economics of solar, which is currently approximately twice the cost of delivered retail electricity on a per kilowatt basis, begins to approach that of traditional electricity-generation technologies.
Intel has a long history of commitment to the environment and has applied technology innovation to drive energy-efficiencies within its own products and operations. The development of a small solar business within Intel is consistent with the philosophy to protect the environment as well as seek new business opportunities. Intel is on track to reduce its total worldwide greenhouse gas emissions by 30 percent from 2004 levels through 2010, and also recently introduced lead- and halogen-free microprocessors. Additionally, Intel currently tops the Environmental Protection Agency's Green Power list as the largest purchaser of renewable energy credits.
"The formation of SpectraWatt is an important step forward in the renewable energy market," said Andrew B. Wilson, SpectraWatt CEO and former general manager in the Intel New Business Initiatives group. "We are pleased to work with these companies in the goal of moving toward long-term national energy independence."
"We are very proud to be part of this exciting new venture," said Thomas Krupke, SOLON AG CEO. "With the experience and commitment of all companies involved, we are confident to reach our common goal -- advancing solar technology to a new stage."
SpectraWatt will manufacture and supply photovoltaic cells to solar module makers. In addition to focusing on advanced solar cell technologies, SpectraWatt will concentrate development efforts on improvements in current manufacturing processes and capabilities to reduce the cost of photovoltaic energy generation. SpectraWatt expects to break ground on its manufacturing and advanced technology development facility in Oregon in the second half of 2008 with first product shipments expected by mid-2009.
"SpectraWatt is a great example of technology resulting from entrepreneurial efforts inside Intel," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "This is an important investment for Intel Capital in the growing cleantech sector and we look forward to working with the company to support its expansion."
Solar cells are the discrete components in a solar energy generation system responsible for converting sunlight to electricity. The end-user market segment for solar technology in 2007 was approximately $30 billion, a 50 percent increase from 2006, according to Photon Consulting. Solar industry growth of 30 to 40 percent annually is expected to continue in years to come as the economics of solar, which is currently approximately twice the cost of delivered retail electricity on a per kilowatt basis, begins to approach that of traditional electricity-generation technologies.
Intel has a long history of commitment to the environment and has applied technology innovation to drive energy-efficiencies within its own products and operations. The development of a small solar business within Intel is consistent with the philosophy to protect the environment as well as seek new business opportunities. Intel is on track to reduce its total worldwide greenhouse gas emissions by 30 percent from 2004 levels through 2010, and also recently introduced lead- and halogen-free microprocessors. Additionally, Intel currently tops the Environmental Protection Agency's Green Power list as the largest purchaser of renewable energy credits.
"The formation of SpectraWatt is an important step forward in the renewable energy market," said Andrew B. Wilson, SpectraWatt CEO and former general manager in the Intel New Business Initiatives group. "We are pleased to work with these companies in the goal of moving toward long-term national energy independence."
"We are very proud to be part of this exciting new venture," said Thomas Krupke, SOLON AG CEO. "With the experience and commitment of all companies involved, we are confident to reach our common goal -- advancing solar technology to a new stage."
Monday, June 09, 2008
Duke Energy To Make Major Investment In Solar Power
CHARLOTTE, N.C. - Duke Energy Carolinas is proposing a $100 million plan to install electricity generating solar panels at up to 850 North Carolina sites including homes, schools, stores and factories.
Last Friday, the company filed an application with the North Carolina Utilities Commission asking for approval to implement this solar distributed generation program. Distributed generation is energy created close to where it is used, rather than being produced in large power plants and transported to customers over power lines.
“We believe an initiative of this scope and scale will help us meet the requirement of North Carolina’s new Renewable and Energy Efficiency Portfolio Standard (REPS),” said Keith Trent, group executive and chief strategy, policy and regulatory officer. “This program also will enable us to evaluate the role of distributed generation on our system, and gain experience in owning and operating renewable energy resources.”
If the program is approved by regulators, Duke Energy Carolinas would spend two years installing approximately 20 megawatts of distributed solar generation on rooftops of customer businesses and homes or on ground sites within the company’s North Carolina service area.
Solar power has to be converted from direct to alternating current. Once that’s done, Duke Energy Carolinas customers will benefit from more than 16 megawatts of power, enough energy to serve more than 2,600 homes.
Duke Energy Carolinas would own and operate the equipment and the power produced by each installation would be used to serve the utility’s customers. Customers who agree to place solar panels at their location would be rewarded based on the size of the installation and the amount of energy it produces.
The company plans to recover its $100 million investment through North Carolina’s new REPS cost recovery mechanism. The company estimates that, over its life, the program will increase the average customer’s bill by no more than 25 cents a month. The average customer uses about 1000 kilowatt-hours of electricity each month.
In 2007, the company supported the development of the REPS. It requires the utility to satisfy 12.5 percent of its customers’ power needs with renewables or energy efficiency by 2021. The new law has specific provisions for solar energy. Beginning in 2010, 0.02 percent of the electricity sold to customers in the state, or an equivalent amount of energy, must be produced by solar energy resources. That requirement grows to 0.2 percent in 2018 and thereafter.
In addition to this proposal, the company is purchasing solar power. Recently, Duke Energy Carolinas announced it would buy approximately 16 megawatts of energy from the nation’s largest photovoltaic solar farm, to be built by SunEdison in Davidson County, N.C. Once operational in late 2010, the farm will supply enough energy to power more than 2,600 homes.
As a corporation, Duke Energy is also pursuing other alternative energy projects. In April 2008, a wind farm in Indiana began supplying 100 megawatts of power to Duke Energy Indiana customers.
In addition, Duke Energy Generation Services has more than 3,000 megawatts of wind projects under development in eight different states.
Duke Energy's Carolinas’ operations include nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides nearly 21,000 megawatts of safe, reliable and competitively priced electricity to more than 2.3 million electric customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
Last Friday, the company filed an application with the North Carolina Utilities Commission asking for approval to implement this solar distributed generation program. Distributed generation is energy created close to where it is used, rather than being produced in large power plants and transported to customers over power lines.
“We believe an initiative of this scope and scale will help us meet the requirement of North Carolina’s new Renewable and Energy Efficiency Portfolio Standard (REPS),” said Keith Trent, group executive and chief strategy, policy and regulatory officer. “This program also will enable us to evaluate the role of distributed generation on our system, and gain experience in owning and operating renewable energy resources.”
If the program is approved by regulators, Duke Energy Carolinas would spend two years installing approximately 20 megawatts of distributed solar generation on rooftops of customer businesses and homes or on ground sites within the company’s North Carolina service area.
Solar power has to be converted from direct to alternating current. Once that’s done, Duke Energy Carolinas customers will benefit from more than 16 megawatts of power, enough energy to serve more than 2,600 homes.
Duke Energy Carolinas would own and operate the equipment and the power produced by each installation would be used to serve the utility’s customers. Customers who agree to place solar panels at their location would be rewarded based on the size of the installation and the amount of energy it produces.
The company plans to recover its $100 million investment through North Carolina’s new REPS cost recovery mechanism. The company estimates that, over its life, the program will increase the average customer’s bill by no more than 25 cents a month. The average customer uses about 1000 kilowatt-hours of electricity each month.
In 2007, the company supported the development of the REPS. It requires the utility to satisfy 12.5 percent of its customers’ power needs with renewables or energy efficiency by 2021. The new law has specific provisions for solar energy. Beginning in 2010, 0.02 percent of the electricity sold to customers in the state, or an equivalent amount of energy, must be produced by solar energy resources. That requirement grows to 0.2 percent in 2018 and thereafter.
In addition to this proposal, the company is purchasing solar power. Recently, Duke Energy Carolinas announced it would buy approximately 16 megawatts of energy from the nation’s largest photovoltaic solar farm, to be built by SunEdison in Davidson County, N.C. Once operational in late 2010, the farm will supply enough energy to power more than 2,600 homes.
As a corporation, Duke Energy is also pursuing other alternative energy projects. In April 2008, a wind farm in Indiana began supplying 100 megawatts of power to Duke Energy Indiana customers.
In addition, Duke Energy Generation Services has more than 3,000 megawatts of wind projects under development in eight different states.
Duke Energy's Carolinas’ operations include nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides nearly 21,000 megawatts of safe, reliable and competitively priced electricity to more than 2.3 million electric customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
Evergreen Solar Announces Investor Day Webcast
MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products with its proprietary, low-cost String Ribbon™ wafer technology, today announced that it will be webcasting its Analyst Day on Thursday, June 19, 2008, from 9:00 a.m. to 12:00 p.m. (ET).
All interested parties are invited to listen as Evergreen Solar Chairman and CEO Richard M. Feldt, Chief Financial Officer Michael El-Hillow and other members of the executive team will provide a strategic overview of the Company's business through a series of presentations. The meeting will be followed by a factory tour of the company’s new state-of the-art wafer, cell and String Ribbon™ solar panel manufacturing facility.
The webcast can be accessed by logging on to the "Investors" section of Evergreen Solar's website, www.evergreensolar.com, prior to the event. The call can also be accessed by dialing (866) 578-5801 or (617) 213-8058 (for International participants) prior to the start of the call. The conference passcode is 45897489.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar panels using proprietary, low-cost manufacturing technologies. The Company's patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. 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.
All interested parties are invited to listen as Evergreen Solar Chairman and CEO Richard M. Feldt, Chief Financial Officer Michael El-Hillow and other members of the executive team will provide a strategic overview of the Company's business through a series of presentations. The meeting will be followed by a factory tour of the company’s new state-of the-art wafer, cell and String Ribbon™ solar panel manufacturing facility.
The webcast can be accessed by logging on to the "Investors" section of Evergreen Solar's website, www.evergreensolar.com, prior to the event. The call can also be accessed by dialing (866) 578-5801 or (617) 213-8058 (for International participants) prior to the start of the call. The conference passcode is 45897489.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar panels using proprietary, low-cost manufacturing technologies. The Company's patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. 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.
Lumeta Launches New Line Of Building Integrated Solar Panels
RVINE, Calif.--(BUSINESS WIRE)--Lumeta, Inc. today announced the European launch of its full line of Building Integrated Photovoltaic (BIPV) modules for the residential and commercial markets. Manufactured by Suntech, one of the world’s leading photovoltaic manufacturers, Lumeta integrated solar modules become a part of the roof, creating clean, renewable energy without compromising the aesthetics and functionality of the roof system.
Developed by the leaders of parent group DRI Companies, California’s premier roofing contracting company, Lumeta was designed to integrate with most major flat and profiled roof systems and remove existing barriers to solar adoption.
“Our 30 years of experience in the roofing industry has enabled Lumeta to design lightweight, easy to install, and aesthetically pleasing solar modules,” said Timothy Davey, CEO of DRI Companies. “The Lumeta products will change the way commercial and residential building owners perceive solar.”
Lumeta PowerPly modules save balance of system costs (BOS), as well as installation time and costs as a result of its “Peel and Stick” technology. The S and Flat Tile panels blend naturally with the architectural design of residential homes by replicating the existing aesthetics.
“The solar industry has experienced record growth in recent years, but there’s still been a challenge in reaching customers who are looking for something different,” said Stephen Torres, Chief Operating Officer of Lumeta. “Our BIPV solar modules represent the cutting edge in solar technology – the perfect marriage of form and function. Finally, homebuilders have access to solar modules that become a part of your roof rather than a burden on it.”
Developed by the leaders of parent group DRI Companies, California’s premier roofing contracting company, Lumeta was designed to integrate with most major flat and profiled roof systems and remove existing barriers to solar adoption.
“Our 30 years of experience in the roofing industry has enabled Lumeta to design lightweight, easy to install, and aesthetically pleasing solar modules,” said Timothy Davey, CEO of DRI Companies. “The Lumeta products will change the way commercial and residential building owners perceive solar.”
Lumeta PowerPly modules save balance of system costs (BOS), as well as installation time and costs as a result of its “Peel and Stick” technology. The S and Flat Tile panels blend naturally with the architectural design of residential homes by replicating the existing aesthetics.
“The solar industry has experienced record growth in recent years, but there’s still been a challenge in reaching customers who are looking for something different,” said Stephen Torres, Chief Operating Officer of Lumeta. “Our BIPV solar modules represent the cutting edge in solar technology – the perfect marriage of form and function. Finally, homebuilders have access to solar modules that become a part of your roof rather than a burden on it.”
Xantrex Receives $1.9 Million Order For Solar Inverters
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Xantrex Technology Inc. (TSX:XTX) announced today it has received an order valued at approximately US$1.9 million from OptiSolar, Inc. This initial order from OptiSolar is for Xantrex's 500 kilowatt (kW) medium voltage commercial solar grid-tie inverters (GT500MV). The Xantrex GT500MV solar inverters will be deployed at the Sarnia Ontario Solar Farm, to be developed by OptiSolar Farms Canada Inc. Delivery of the Xantrex GT500MV inverters is scheduled for the fourth quarter of 2008.
"OptiSolar's order of Xantrex's solar inverters is for the first phase of the largest Canadian solar project to date," said Mossadiq S. Umedaly, Xantrex Chairman. "The development of this large solar farm in Sarnia, Ontario is the result of enlightened policies by the Government of Ontario and the Ontario Power Authority."
The Xantrex GT500MV inverters selected for this project efficiently convert direct current (DC) power from solar modules into high-quality alternating current (AC) electricity for delivery to the grid. Easy to install and operate, these commercial grid-tie inverters have automatic start up and shut down features with Maximum Power Point Tracking technology to optimize the energy harvested from the photovoltaic (PV) array. The inverters are designed to connect directly to higher utility voltages in order to reduce system losses from multiple transformers. To maximize power conversion efficiency, the switching circuitry for these inverters uses insulated gate bi-polar transistors (IGBT). Xantrex solar inverters offer high quality, performance, efficiency, reliability, value, ease of installation, and high power density; making them the preferred choice for an increasing number of projects around the world.
Xantrex CEO John Wallace stated, "We are delighted with the opportunity to build this strategic customer relationship with OptiSolar and provide the new GT500MV solar inverter for the Canadian solar market. We look forward to building a mutually successful partnership with the OptiSolar team."
"OptiSolar's order of Xantrex's solar inverters is for the first phase of the largest Canadian solar project to date," said Mossadiq S. Umedaly, Xantrex Chairman. "The development of this large solar farm in Sarnia, Ontario is the result of enlightened policies by the Government of Ontario and the Ontario Power Authority."
The Xantrex GT500MV inverters selected for this project efficiently convert direct current (DC) power from solar modules into high-quality alternating current (AC) electricity for delivery to the grid. Easy to install and operate, these commercial grid-tie inverters have automatic start up and shut down features with Maximum Power Point Tracking technology to optimize the energy harvested from the photovoltaic (PV) array. The inverters are designed to connect directly to higher utility voltages in order to reduce system losses from multiple transformers. To maximize power conversion efficiency, the switching circuitry for these inverters uses insulated gate bi-polar transistors (IGBT). Xantrex solar inverters offer high quality, performance, efficiency, reliability, value, ease of installation, and high power density; making them the preferred choice for an increasing number of projects around the world.
Xantrex CEO John Wallace stated, "We are delighted with the opportunity to build this strategic customer relationship with OptiSolar and provide the new GT500MV solar inverter for the Canadian solar market. We look forward to building a mutually successful partnership with the OptiSolar team."
Young Brothers Signs Agreement With Hoku For Solar Power
HONOLULU, HI--(Marketwire - June 9, 2008) - Hoku Solar, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ: HOKU) established to design, engineer and install photovoltaic (PV) power systems, and Young Brothers today announced that they have entered into a definitive agreement for Young Brothers to purchase solar electricity generated by a 224-kilowatt photovoltaic (PV) system to be installed, owned and operated by Hoku Solar. Young Brothers is the leading provider of inter-island ocean cargo service in Hawaii.
Hoku Solar plans to install the PV power system on the roughly 25,000 square foot rooftop of the Young Brothers' maintenance building at Young Brothers' Honolulu port at Pier 39 and 40. Young Brothers will buy the electricity generated by Hoku Solar or its affiliate, which would own and operate the system, and sell the electricity generated by the PV power system to Young Brothers at a predetermined rate over a period of 20 years. A 224-kilowatt system produces enough electricity in 20 years to power roughly 800 average homes for an entire year.
"Young Brothers is demonstrating its commitment to sustainability in Hawaii with this agreement to purchase clean, solar electricity," said Dustin Shindo, chairman and chief executive officer of Hoku Scientific. "We're excited to be working with them on this project."
"This is a great partnership that allows Young Brothers to take advantage of renewable energy at a predictable rate, with no upfront costs," said Glenn Hong, president of Young Brothers. "We are confident in Hoku's technical capabilities and their track record of success, and we look forward to building a long-term relationship with them."
"This initiative will lend greater stability to our future energy costs for the benefit of our customers and the environment," said Hong. "We constantly seek ways to conduct our cargo operations more efficiently and sustainably, and we are happy that this opportunity allows us to contribute towards a greener Hawaii."
Over the 20-year life of the contract, the power generated by the 224 kilowatt PV system is expected to offset more than 4,000 tons of carbon dioxide emissions.
Hoku Solar plans to complete the installation in 2008, subject to its ability to obtain third party financing for the procurement and construction of the PV system.
Hoku Solar plans to install the PV power system on the roughly 25,000 square foot rooftop of the Young Brothers' maintenance building at Young Brothers' Honolulu port at Pier 39 and 40. Young Brothers will buy the electricity generated by Hoku Solar or its affiliate, which would own and operate the system, and sell the electricity generated by the PV power system to Young Brothers at a predetermined rate over a period of 20 years. A 224-kilowatt system produces enough electricity in 20 years to power roughly 800 average homes for an entire year.
"Young Brothers is demonstrating its commitment to sustainability in Hawaii with this agreement to purchase clean, solar electricity," said Dustin Shindo, chairman and chief executive officer of Hoku Scientific. "We're excited to be working with them on this project."
"This is a great partnership that allows Young Brothers to take advantage of renewable energy at a predictable rate, with no upfront costs," said Glenn Hong, president of Young Brothers. "We are confident in Hoku's technical capabilities and their track record of success, and we look forward to building a long-term relationship with them."
"This initiative will lend greater stability to our future energy costs for the benefit of our customers and the environment," said Hong. "We constantly seek ways to conduct our cargo operations more efficiently and sustainably, and we are happy that this opportunity allows us to contribute towards a greener Hawaii."
Over the 20-year life of the contract, the power generated by the 224 kilowatt PV system is expected to offset more than 4,000 tons of carbon dioxide emissions.
Hoku Solar plans to complete the installation in 2008, subject to its ability to obtain third party financing for the procurement and construction of the PV system.
Thursday, June 05, 2008
Bosch Offers $1.7 Billion For Ersol
Bosch has made a 1.1bn euro($1.7bn) takeover bid for Ersol, the German solar energy company, marking the first big move by one of the world's major industrial groups in this part of the renewable sector.
Bosch, the privately-owned German conglomerate, is offering &euro101 a share in cash, a 63 per cent premium to Ersol's closing price on Friday. Bosch has secured 50.1 per cent of the group through the &euro546m purchase of the stake held by Ventizz, a private equity firm.
The offer for Ersol is likely to be watched with interest by industrial groups. It, along with Conergy and Q-Cells, are the largest solar groups in the world.
Companies such as General Electric and Siemens have monitored the solar energy sector closely but apart from a few small purchases by GE, the large industrial companies have yet to act.
Some executives remain sceptical and believe that oversupply and a fall in subsidies could hit prices and margins.
However, Franz Fehrenbach, Bosch's chief executive, said the group – owned by a charitable foundation – wanted to add to its renewable energy activities, which included making wind turbines, thermal pumps and drives for marine power.
Bosch already makes solar collectors for hot-water generation and has a partnership with BASF and Heliatek, both of Germany, to produce cheaper organic photovoltaic cells used in the industry.
However the offer for Ersol, which had &euro160m in sales last year and is expected to have &euro300m this year, represents a significant increase.
Bosch, the privately-owned German conglomerate, is offering &euro101 a share in cash, a 63 per cent premium to Ersol's closing price on Friday. Bosch has secured 50.1 per cent of the group through the &euro546m purchase of the stake held by Ventizz, a private equity firm.
The offer for Ersol is likely to be watched with interest by industrial groups. It, along with Conergy and Q-Cells, are the largest solar groups in the world.
Companies such as General Electric and Siemens have monitored the solar energy sector closely but apart from a few small purchases by GE, the large industrial companies have yet to act.
Some executives remain sceptical and believe that oversupply and a fall in subsidies could hit prices and margins.
However, Franz Fehrenbach, Bosch's chief executive, said the group – owned by a charitable foundation – wanted to add to its renewable energy activities, which included making wind turbines, thermal pumps and drives for marine power.
Bosch already makes solar collectors for hot-water generation and has a partnership with BASF and Heliatek, both of Germany, to produce cheaper organic photovoltaic cells used in the industry.
However the offer for Ersol, which had &euro160m in sales last year and is expected to have &euro300m this year, represents a significant increase.
Wednesday, June 04, 2008
FTL Solar Closes First Round Of Funding
NEW YORK, June 3 /PRNewswire/ -- FTL Solar, a developer of lightweight, flexible tensile structures embedded with thin-film solar cells providing military and commercial enterprises with economical, scalable and portable sources of electrical power and shelter, announced today that the Company had closed a successful first round of funding, as Phase I of the Company's
$50 million capital acquisition initiative.
The financing, spearheaded by Austin, TX based Terra Firma Capital Group, LLC, The Josh Mailman Foundation and individual investors, completes the initial phase of FTL Solar's robust investment strategy, which is projected to raise at least $50 million in equity capital by Q4 2008. In addition to funds provided by the Company's investors, FTL Solar was awarded a $200,000 matching grant from the New York State Energy Research Development Authority.
Proceeds from the present and subsequent rounds of funding will be used to expand FTL Solar's domestic and international R&D, Plant, Marketing and Business Development initiatives.
"Today, FTL Solar is the first provider in the world for flexible, transportable and lightweight energy generation products and structures using a flexible solar cell and structural fabric solution," said Todd Dalland FAIA, Co-Founder and Chairman of FTL Solar.
The U.S. Department of Defense, FEMA, Solar Net, Solar Power & Light, and the Cooper-Hewitt National Design Museum of the Smithsonian Institution, are among a fast-growing group of governmental, commercial, academic and cultural leaders using FTL Solar's proprietary flexible solar cell and shelter solutions to accomplish a range of critical tasks.
Atlanta's Olympic Games National Park and NY Fashion Week, have all utilized FTL's structural, design and engineering expertise.
"FTL Solar's products can generate power anywhere on earth where there is sunlight, and can operate maintenance-free in excess of ten years," said Robert Lerner AIA, FTL Solar's Co-Founder and COO.
"Our defense and corporate clients can adapt our power generating units to almost every task, from small installations which can power residential needs, charge lap-tops, cell phones, power water purification and sanitation systems, to large-scale megawatt-generating solar farms," said
Tony Saxton, CEO of FTL Solar.
Marketing and distribution of FTL Solar products is facilitated through the Allbaugh Group, headed by Joe Allbaugh, the former Director of FEMA (2000-2003) and the Repton Group.
FTL Solar's successful capital acquisition and growth strategies reflect positive, sustainable trends within the alternative energy sector. For 2007, private equity led investments in solar power totaled $3.0 billion dollars. FTL Solar's award winning technologies and products provide innovative power solutions to a global market with an estimated value of $11.2 billion dollars.
$50 million capital acquisition initiative.
The financing, spearheaded by Austin, TX based Terra Firma Capital Group, LLC, The Josh Mailman Foundation and individual investors, completes the initial phase of FTL Solar's robust investment strategy, which is projected to raise at least $50 million in equity capital by Q4 2008. In addition to funds provided by the Company's investors, FTL Solar was awarded a $200,000 matching grant from the New York State Energy Research Development Authority.
Proceeds from the present and subsequent rounds of funding will be used to expand FTL Solar's domestic and international R&D, Plant, Marketing and Business Development initiatives.
"Today, FTL Solar is the first provider in the world for flexible, transportable and lightweight energy generation products and structures using a flexible solar cell and structural fabric solution," said Todd Dalland FAIA, Co-Founder and Chairman of FTL Solar.
The U.S. Department of Defense, FEMA, Solar Net, Solar Power & Light, and the Cooper-Hewitt National Design Museum of the Smithsonian Institution, are among a fast-growing group of governmental, commercial, academic and cultural leaders using FTL Solar's proprietary flexible solar cell and shelter solutions to accomplish a range of critical tasks.
Atlanta's Olympic Games National Park and NY Fashion Week, have all utilized FTL's structural, design and engineering expertise.
"FTL Solar's products can generate power anywhere on earth where there is sunlight, and can operate maintenance-free in excess of ten years," said Robert Lerner AIA, FTL Solar's Co-Founder and COO.
"Our defense and corporate clients can adapt our power generating units to almost every task, from small installations which can power residential needs, charge lap-tops, cell phones, power water purification and sanitation systems, to large-scale megawatt-generating solar farms," said
Tony Saxton, CEO of FTL Solar.
Marketing and distribution of FTL Solar products is facilitated through the Allbaugh Group, headed by Joe Allbaugh, the former Director of FEMA (2000-2003) and the Repton Group.
FTL Solar's successful capital acquisition and growth strategies reflect positive, sustainable trends within the alternative energy sector. For 2007, private equity led investments in solar power totaled $3.0 billion dollars. FTL Solar's award winning technologies and products provide innovative power solutions to a global market with an estimated value of $11.2 billion dollars.
United Solar Ovonic Expands It's Michigan Workforce
GREENVILLE, Mich., June 2 /PRNewswire-FirstCall/ -- United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc. (Nasdaq: ENER) and the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, announced today that it will begin hiring to accommodate the
recently announced expansion to add 120MWs nameplate capacity to its existing Greenville Campus. With this expansion the total employment at the site is planned to reach approximately 800 team members.
Together with a previously announced expansion the company's nameplate capacity will expand to approximately 300MWs by the end of fiscal 2010.
"This is great news for our employees and the community. It takes a large pool of talented people for United Solar to build and ramp-up a solar production facility," said Gary DiDio, plant manager of United Solar Ovonic in Greenville, Michigan. "Greenville is a wonderful place to work. We were still very busy hiring for our initial production needs. The expansion will require an additional 400 employees. The majority of our hiring will be for production technicians, but there are immediate needs for supervisors, engineers, and many other roles," he added.
recently announced expansion to add 120MWs nameplate capacity to its existing Greenville Campus. With this expansion the total employment at the site is planned to reach approximately 800 team members.
Together with a previously announced expansion the company's nameplate capacity will expand to approximately 300MWs by the end of fiscal 2010.
"This is great news for our employees and the community. It takes a large pool of talented people for United Solar to build and ramp-up a solar production facility," said Gary DiDio, plant manager of United Solar Ovonic in Greenville, Michigan. "Greenville is a wonderful place to work. We were still very busy hiring for our initial production needs. The expansion will require an additional 400 employees. The majority of our hiring will be for production technicians, but there are immediate needs for supervisors, engineers, and many other roles," he added.
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