Friday, May 15, 2009

ReneSola gets gov't OK for rooftop solar plan

Associated Press, 05.13.09

Chinese solar wafer maker ReneSola Ltd. said Wednesday it has received government approval to build a solar rooftop project in China's Zhejiang province.

The five megawatt building integrated photovoltaic rooftop project has a total planned area of 80,400 square meters on several government buildings in the province. It is subject to final approval by two government organizations.

The project will cost about $23.4 million and will be partially funded through a government subsidy.

China's Suntech to set up U.S. factory

Mon May 11, 2009

LOS ANGELES (Reuters) - Chinese solar panel maker Suntech Power Holdings Co Ltd on Monday said it plans to establish a manufacturing facility in the United States, though it has yet to choose a location.

The company said it is exploring opportunities in several states as it seeks to expand its presence in the U.S. solar market. It plans to make a decision on the location in the next six months.

Suntech Chief Executive Zhenrong Shi said in a statement that strong growth in solar demand from U.S. utilities and federal incentives for solar power had helped lead to the company's decision to set up a U.S. production plant.

With Monday's announcement, Suntech joins a growing list of overseas renewable energy companies who are setting up production plants in the United States.

Suntech Announces Additional Repurchase of $150.4 Million 2012 Convertible Senior Notes

SAN FRANCISCO and WUXI, China, May 8, 2009 /PRNewswire-Asia via COMTEX/ -- Suntech Power Holdings Co., Ltd., the world's largest manufacturer of crystalline silicon photovoltaic (PV) modules, today announced that in the first quarter of 2009, Suntech re-purchased $150.4 million aggregate principal amount of its 0.25% convertible senior notes due 2012 for a total cash consideration of $129.9 million. As of May 8, 2009, Suntech had $255.8 million principal amount of its 2012 convertible senior notes outstanding.

Suntech may from time to time seek to make additional repurchases of its convertible senior notes. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements and other factors.

Friday, May 8, 2009

Suntech Joins Solar Panel Recycling Program

While the serviceable life of most solar panels is at least a couple of decades and some solar panel installations commissioned in the 1970's are still functioning today; at some stage in the time ahead a flood of panels will need to be disposed of - and preferably recycled.

Solar panels are essentially simple devices containing materials such as silicon, glass, aluminium and semiconductor materials that are all recyclable. Only a very small percentage of a solar panel's weight need ever be totally discarded. Recycling of solar panels is not only technically and economically feasible, but it could greatly decrease the overall ecological footprint associated with production

Suntech Power Holdings Co., Ltd. (stock: STP) the world's largest manufacturer of crystalline silicon photovoltaic (PV) modules, announced recently that the company has joined PV Cycle; a European association establishing a voluntary take-back and recycling program for solar panels. Suntech said that with 1GW of Suntech solar panels sold since its inception, the company believes it is essential that Suntech take a proactive role in developing effective recycling programs.

Through PV Cycle, the solar panel industry aims to develop overall waste management and recycling policy that achieves the highest economically feasible and environmentally responsible collection and recycling of PV modules. PV Cycle now covers around 80% of the European photovoltaic market with its 35 member companies spread around the world.

While PV Cycle is only covering the European market at present and no similar organisation yet exists in Australia, PV Cycle's efforts will certainly lay the groundwork that other regions will be able to follow.

China SDIC Huajing plans $293 mln solar project

SHANGHAI, May 7 (Reuters) - China SDIC Huajing Power Holdings Co (600886.SS) said on Thursday it plans to build a solar power station with a capacity of 200 megawatts and an initial investment of 2 billion yuan ($293.2 million).

The first phase of the the project, to be located in the western province of Qinghai, would have a capacity of 100 megawatt, the company said in a filing to the Shanghai Stock Exchange.

The company, a unit of the State Development and Investment Corp, said the plan would need approval from state authorities.

Beijing is expected to increase the target for solar power for 2020 at least fourfold, as part of a stimulus plan for the renewable energy industry.