Tuesday, December 30, 2008
Datang's Yunnan Subsidiary to Build 20MW Solar Power Station
The Yunnan Branch of China Datang Corporation plans to build an on-grid photovoltaic solar power plant with first-phase annual capacity of 20MW in Yunnan's Binchuan county. The subsidiary will be the third company to construct a large-scale on-grid photovoltaic solar station in Yunnan.
Vestas Receives Chinese Order for 116 Wind Turbines
Danish wind turbine manufacturer Vestas has received an order from China Guangdong Nuclear Wind Power Company for the delivery of 116 of its 850kW V52 wind turbines, bringing the total capacity of V52 wind turbines sold to the company to 500MW.
The agreement includes supply of the turbines, a VestasOnline Business supervisory control and data acquisition solution and a two-year maintenance and service agreement.
Lars Andersen, Vestas China managing director, said: "This latest sale, the eighth order from China Guangdong Nuclear Wind Power in the last 12 months, means that Vestas is now one of the largest single suppliers of wind turbines to the company."
The agreement includes supply of the turbines, a VestasOnline Business supervisory control and data acquisition solution and a two-year maintenance and service agreement.
Lars Andersen, Vestas China managing director, said: "This latest sale, the eighth order from China Guangdong Nuclear Wind Power in the last 12 months, means that Vestas is now one of the largest single suppliers of wind turbines to the company."
Power Company China Datang Exceeds 2GW of Wind Capacity
Beijing-based power company China Datang Corporation (601991.SH, 991.HK) began producing electricity in a 49.5MW wind project in Xilinhaote, Inner Mongolia on December 23, to bring the company's total wind capacity to 2.03GW. China Datang has realized 247.5MW of the 346.5MW total capacity of its Inner Mongolia wind projects.
Saturday, December 27, 2008
Ningxia Yangguang Silicon Will Begin Polysilicon Mass Production in March 2009
2008 December 25th, Ningxia Yangguang Silicon held the ceremony to celebrate the successful release of their polysilicon product.
Their first furnace polysilicon was released on December 23rd with polysilicon purity over 99.99999% and qualified for the solar cell production. The first phase polyslicon project has production capacity of 1,500 metric tons, and the total production capacity will reach 4,500 metric tons.
The first phase polysilicon project was launched on 2007 August 28th, began the production adjustment in 2008 November, and will begin the mass production in 2009 March.
Their first furnace polysilicon was released on December 23rd with polysilicon purity over 99.99999% and qualified for the solar cell production. The first phase polyslicon project has production capacity of 1,500 metric tons, and the total production capacity will reach 4,500 metric tons.
The first phase polysilicon project was launched on 2007 August 28th, began the production adjustment in 2008 November, and will begin the mass production in 2009 March.
Thursday, December 25, 2008
Hongkong Sheng Rui invested in thin film solar panel production project in Zhenjiang, China
2008 December 24th, Hongkong Sheng Rui Solar Technology Company and Zhenjiang New Zone Ecnomic Development Company signed cooperation agreement to build thin film solar panel production project in Zhenjiang.
The first phase project will cost about USD 36 million and the thin film solar panel production capacity will reach 96MW by the end of 2010, and reach 120MW by the end of 2011.
The first phase project will cost about USD 36 million and the thin film solar panel production capacity will reach 96MW by the end of 2010, and reach 120MW by the end of 2011.
Tuesday, December 23, 2008
Yingli Green Energy subsidiary enters 8-yr. loan agreement with China Development Bank
12/23/2008 6:48 AM ET
(RTTNews) - Tuesday, Yingli Green Energy Holding Company Ltd. said its subsidiary Yingli Energy Co. Ltd., China, has entered into an eight-year loan agreement with China Development Bank, or CDB.
As per the loan agreement, CDB has agreed to provide to Yingli China an aggregate of US$70 million to support Yingli China's construction of photovoltaic cell manufacturing lines with 100 megawatt annual production capacity, subject to certain conditions.
CDB, a government policy bank solely owned by China's central government, provides mid to long term financing support for the development of key government projects and for construction in the infrastructure sector, basic industries, pillar industries and high-technology industry.
Further, the company announced that it has appointed Jingfeng Xiong as the new Vice President of Technology effective December 23, replacing Nabih Cherradi, who has quit to pursue other interests. Xiong joined the company in 2000, and has served in a variety of roles, including as the Manager for Wafer, Cell, and Module Workshops, respectively, Quality Manager, Technical Department Manager, System Application Department Manager, and Chief Engineer.
(RTTNews) - Tuesday, Yingli Green Energy Holding Company Ltd. said its subsidiary Yingli Energy Co. Ltd., China, has entered into an eight-year loan agreement with China Development Bank, or CDB.
As per the loan agreement, CDB has agreed to provide to Yingli China an aggregate of US$70 million to support Yingli China's construction of photovoltaic cell manufacturing lines with 100 megawatt annual production capacity, subject to certain conditions.
CDB, a government policy bank solely owned by China's central government, provides mid to long term financing support for the development of key government projects and for construction in the infrastructure sector, basic industries, pillar industries and high-technology industry.
Further, the company announced that it has appointed Jingfeng Xiong as the new Vice President of Technology effective December 23, replacing Nabih Cherradi, who has quit to pursue other interests. Xiong joined the company in 2000, and has served in a variety of roles, including as the Manager for Wafer, Cell, and Module Workshops, respectively, Quality Manager, Technical Department Manager, System Application Department Manager, and Chief Engineer.
CCID Consulting: Review and Forecast on China's Solar Cell Industry
BEIJING, Dec.23 /PRNewswire-Asia/ -- CCID Consulting, China's leadingresearch, consulting and IT outsourcing service provider, and the firstChinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange:HK08235), recently released its article on China's solar cell industry.
Affected by global financial crisis in 2008, the global economy is going through a difficult winter. China's solar cell industry has been enjoying a period of stable and rapid growth in recent years, which is likely to be slowed under the current economic environment. However, China's solar cell industry still attracts manufacturers' and investors' attention in 2008. The output of China's solar cell industry in 2008 is expected to break through 2000MW. Compared with 2007, China's solar cell industry maintains a rapid development pace.
Figure: China's Solar Cell Output, 2005-2008
Source: CCID Consulting, Dec.2008
CCID Consulting forecasts that in 2009, with demands for renewable, clean and security energies increasing, innovations in thin film techniques and falling costs, China's solar cell industry will undergo a restructure period in its industry chain. The new application of thin film solar cell and other power supply will appear.
Governmental Support Brings Opportunities to the Solar Cell Industry
The promulgation and implementation of China's Renewable Energy Law will allow the size of China's photovoltaic industry to expand in the next two years; China's solar cell industry will become gradually mature. Among the 4 trillion Yuan the nation promised to invest to boost economic growth, energy-saving, environmental protection and new energy industries will be playing important roles, that these investment will drive the rapid development of the solar cell industry.
Thin Film Technology Under Spotlight
Among amorphous silicon photovoltaic cell technologies, thin film solar cell technology is considered to be most suitable for large scale industrialization. In next two years, thin film technical progress and conversion rate's improvement will gradually highlight thin film solar cell's cost advantage. Restricted by silicon materials, major manufacturers have transferred to invest in thin film. In 2009, this trend will be more obvious. With major manufacturers' thin film technical successive investment and production, despite that thin film technology cannot completely replace crystalline silicon technology in the short term, based on its cost advantage, its market share will increase rapidly.
Industry Chain Faces Local Adjustment
Solar power generation (photovoltaic generation) industry chain includes upstream polysilicon production, midstream silicon cutting and solar cell production and downstream solar cell components production. More and more enterprises will focus on the midstream and downstream. Upstream manufacturers and VC will enlarge their investment in silicon cutting and solar cell production. Industrial integration trend will strengthen.
Demands in China's Domestic Market to Surge Next Year
In the short term, China's solar cell industry will still need to rely heavily on silicon raw materials and terminal market. More than 90% of polysilicon, main raw material of solar battery depends on import and more than 90% terminal products rely on export. Demands on domestic solar battery market are to be lifted.
Solar battery products will be more popular, getting along with environment protection and energy saving policies. Mobile solar battery will appear in the market due to energy saving, 3G, uniform mobile phone charging interface, and other policies.
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as CCID Consulting), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: 8235.HK), is directly affiliated with China Center for Information Industry Development (hereinafter known as CCID Group). Headquartered in Beijing, CCID Consulting has so far set up branch offices in Shanghai, Guangzhou, Shenzhen, Wuhan and Chengdu, with over 300 professional consultants after many years of development. The company's business scope has covered over 200 large and medium-sized cities in China.
Based on major areas of competitiveness: industrial resources, information technology and data channels, CCID Consulting provides customers with public policy establishment, industry competitiveness upgrading, development strategy and planning, marketing strategy and research, HR management, IT programming and management. CCID Consulting's customers range from industrial users in electronics, telecommunications, energy, finance, automobile, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to becoming the No. 1 advisor for enterprise management, the No.1 consultancy for government decisions and the No. 1 brand for informatization consulting.
China Sunergy Signs Sales Agreement With Ajit Solar
NANJING, China, Dec. 23 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a one-year agreement with Ajit Solar Pvt Ltd ("Ajit Solar"), a privately-owned module manufacturer based in Jaipur, India.
Under the terms of the agreement, China Sunergy will supply and deliver a total volume of 12MW of multi-crystalline solar cells. It is expected that China Sunergy will deliver 5MW to Ajit Solar in the first half of the year, and the remaining 7MW in the latter half.
Commenting on the agreement, CEO of China Sunergy, Dr. Allen Wang, said:"Our partnership with Ajit Solar marks a significant step for China Sunergy as we venture into the growing Indian solar market. Despite the challenging market conditions, we continue to receive orders for our solar cells. We look forward to working closely with Ajit Solar and to further penetrating the Asian markets."
Located in Jaipur, India, Ajit Solar is a privately owned company of the Gehlot Group which manufactures world class photovoltaic modules.
About China Sunergy Co. Ltd.
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
Under the terms of the agreement, China Sunergy will supply and deliver a total volume of 12MW of multi-crystalline solar cells. It is expected that China Sunergy will deliver 5MW to Ajit Solar in the first half of the year, and the remaining 7MW in the latter half.
Commenting on the agreement, CEO of China Sunergy, Dr. Allen Wang, said:"Our partnership with Ajit Solar marks a significant step for China Sunergy as we venture into the growing Indian solar market. Despite the challenging market conditions, we continue to receive orders for our solar cells. We look forward to working closely with Ajit Solar and to further penetrating the Asian markets."
Located in Jaipur, India, Ajit Solar is a privately owned company of the Gehlot Group which manufactures world class photovoltaic modules.
About China Sunergy Co. Ltd.
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
Monday, December 22, 2008
SunTech to design, install 66 MW on-grid solar PV demon project in Yunnan
BEIJING, Dec 22, 2008 (Xinhua via COMTEX) -- China's solar product producer SunTech Power Holdings Co., Ltd. (STP.NYSE) will design and install a 66 MW solar photovoltaic (PV) power generating system for a large on-grid PV demo power station in Yunan in cooperation with Yunnan Provincial Power Investment Co., Ltd. and other investors.
The 66 MW solar PV power generating system to sever the popular science zone of a large experimental on-grid PV power station in Shilin, Southwest China's Yunnan Province, will involve total investment of 3.58 billion yuan and it is designed to generate 77.04 million kilowatts hours of electricity annually.
The system is scheduled to start construction in December 2008 and be completed in 18 months.
It is part of a 166 MW on-grid solar (PV) power station in Shilin, which is composed of a popular science zone and an experimental solar PV power generating zone with installed capacity of 66 MW and 100 MW, respectively. The whole project involves total investment of 9.1 billion yuan.
The 66 MW solar PV power generating system to sever the popular science zone of a large experimental on-grid PV power station in Shilin, Southwest China's Yunnan Province, will involve total investment of 3.58 billion yuan and it is designed to generate 77.04 million kilowatts hours of electricity annually.
The system is scheduled to start construction in December 2008 and be completed in 18 months.
It is part of a 166 MW on-grid solar (PV) power station in Shilin, which is composed of a popular science zone and an experimental solar PV power generating zone with installed capacity of 66 MW and 100 MW, respectively. The whole project involves total investment of 9.1 billion yuan.
Saturday, December 20, 2008
800 MW Solar Wafer Project Investment Agreement Signed in Hohehot
2008 December 15th, a 800 MW solar wafer project with 3 billion RMB investment landed in Hohehot City, Inner Mongolia, China.
The investors are Tianjin Zhonghuan Group and Shanghai Aerospace Group, and the first phase project will begin construction in the first quarter 2009 with 380 million RMB investment.
The investors are Tianjin Zhonghuan Group and Shanghai Aerospace Group, and the first phase project will begin construction in the first quarter 2009 with 380 million RMB investment.
Luoyang Century Xinyuan Group builds 10,000 metric ton polysilicon project
2008 December 16th,
Luoyang Century Xinyuan Group held the ground breaking ceremony for their 10,000 metric ton polysilicon project. The total investment will be 5 billion RMB, and the 10,000 metric ton polysilicon project covers 3,000 metric ton non-Simens polysilicon project.
The investment for the first phase project is 1.5 billion RMB, and the first phase project will be completed by 2009 October with 2,300 metric ton polysilicon production capacity. The second phase project will get started in 2010 with investment of 3.5 billion RMB.
Luoyang Century Xinyuan Group held the ground breaking ceremony for their 10,000 metric ton polysilicon project. The total investment will be 5 billion RMB, and the 10,000 metric ton polysilicon project covers 3,000 metric ton non-Simens polysilicon project.
The investment for the first phase project is 1.5 billion RMB, and the first phase project will be completed by 2009 October with 2,300 metric ton polysilicon production capacity. The second phase project will get started in 2010 with investment of 3.5 billion RMB.
Friday, December 19, 2008
Suntech to Deliver 3MW of Integrated Solar Systems to World Expo Shanghai 2010
SAN FRANCISCO and WUXI, China, Dec. 19 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest photovoltaic (PV) module manufacturer, today announced that it has won a bid to supply, design and install building integrated photovoltaic systems (BIPV) with a total capacityof 3MW on the China and Theme Pavilions at the World Expo Shanghai 2010 ("theExpo"). The projects, which will be the largest BIPV installations in China, are scheduled to be completed by September 2009.
Centered on the theme "Better City, Better Life", the Expo will explore global initiatives that enable sustainable urban development. The China and Theme Pavilions which will be developed by Shenergy Group, one of Shanghai's leading energy companies, will emphasize the importance of urban harmony with the natural environment, including the sustainable use of natural resources such as water and sunlight. The 3MW building integrated rooftop solar systems will be designed, developed and installed by Suntech's in-house system integration team. World Expo Shanghai 2010 will be held from May 1 - October31, 2010 in Shanghai, China.
"Building integrated solar systems, which turn common building materials such as rooftops and facades into power generators, are a logical step for the evolution of the urban environment. Our selection underscores Suntech's position as a global brand and world leader in the solar industry as well as our leading system integration capability in China. We are honored to display China's technological expertise in renewable energy to the world at the Expo,"said Dr. Zhengrong Shi, Suntech's Chairman and CEO.
The sustainable theme of the Expo echoes China's broader commitment to renewable energy solutions. As part of its Renewable Energy Law in 2005, China established a target to generate 15% of its total electricity from renewable energy sources by 2020. China plans to invest $180 billion in renewable energy over a 15-year period, fostering the emergence of renewable energy and sustainable development, including solar, wind, hydropower and biomass.
"Showcasing two of the world's largest building integrated solar systemsat the World Expo Shanghai 2010 indicates China's growing recognition of solar's ability to play a key role in renewable energy generation and sustainable urban development. With China's clear commitment to increasing adoption of renewable energy solutions, we are confident that the Chinese solar market will experience rapid growth in the next few years," Dr. Shi continued.
Suntech's system integration team is one of the most experienced and capable in China. They have completed a range of technically complex building integrated solar systems including the 120kW Beijing Jingya Hotel curtain wall, an 800kW Light Thru system on the Wuxi Airport, and the 1MW BIPV facade at Suntech's new headquarters in Wuxi.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of solar modules. Suntech designs, develops, manufactures, and markets premium-quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods.
Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM). Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with MMA RenewableVentures. With regional headquarters in China, Switzerland and San Franciscoand sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visithttp://www.suntech-power.com .
Centered on the theme "Better City, Better Life", the Expo will explore global initiatives that enable sustainable urban development. The China and Theme Pavilions which will be developed by Shenergy Group, one of Shanghai's leading energy companies, will emphasize the importance of urban harmony with the natural environment, including the sustainable use of natural resources such as water and sunlight. The 3MW building integrated rooftop solar systems will be designed, developed and installed by Suntech's in-house system integration team. World Expo Shanghai 2010 will be held from May 1 - October31, 2010 in Shanghai, China.
"Building integrated solar systems, which turn common building materials such as rooftops and facades into power generators, are a logical step for the evolution of the urban environment. Our selection underscores Suntech's position as a global brand and world leader in the solar industry as well as our leading system integration capability in China. We are honored to display China's technological expertise in renewable energy to the world at the Expo,"said Dr. Zhengrong Shi, Suntech's Chairman and CEO.
The sustainable theme of the Expo echoes China's broader commitment to renewable energy solutions. As part of its Renewable Energy Law in 2005, China established a target to generate 15% of its total electricity from renewable energy sources by 2020. China plans to invest $180 billion in renewable energy over a 15-year period, fostering the emergence of renewable energy and sustainable development, including solar, wind, hydropower and biomass.
"Showcasing two of the world's largest building integrated solar systemsat the World Expo Shanghai 2010 indicates China's growing recognition of solar's ability to play a key role in renewable energy generation and sustainable urban development. With China's clear commitment to increasing adoption of renewable energy solutions, we are confident that the Chinese solar market will experience rapid growth in the next few years," Dr. Shi continued.
Suntech's system integration team is one of the most experienced and capable in China. They have completed a range of technically complex building integrated solar systems including the 120kW Beijing Jingya Hotel curtain wall, an 800kW Light Thru system on the Wuxi Airport, and the 1MW BIPV facade at Suntech's new headquarters in Wuxi.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of solar modules. Suntech designs, develops, manufactures, and markets premium-quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods.
Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM). Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with MMA RenewableVentures. With regional headquarters in China, Switzerland and San Franciscoand sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visithttp://www.suntech-power.com .
Yingli Green Energy Signs Sales Agreements with Two Leading German PV System Integrators
BAODING, China, Dec. 19 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that it has entered into sales agreements with two leading German PV system integrators, City Solar Kraftwerke AG ("City Solar") and Wirsol Deutschland GmbH ("Wirsol").
20 MW PV Module Sales Agreement with City Solar
Under the sales agreement with City Solar, one of the leading German developers and turnkey providers of large-scale PV power plants, Yingli Green Energy is expected to supply 20 MW of PV modules to City Solar in 2009. In addition, City Solar has an option to purchase an additional 30 MW of PV modules from Yingli Green Energy in 2009.
"We are delighted to initiate our business relationship with Yingli Green Energy," commented Mr. Steffen Kammler, President and Chief Executive Officer of City Solar. "We believe we can provide more profitable solar power plants to our customers by using Yingli Green Energy's PV modules with their reliable quality and stable output performance, which are vital for the successful and profitable operation of solar power plants throughout their lifetime."
15 MW PV Module Sales Agreement with Wirsol
Under the sales agreement with Wirsol, one of the leading German PV system specialists delivering solar-based solutions to both residential and commercial customers, Yingli Green Energy is expected to supply 15 MW of PV modules to Wirsol from December 2008 through October 2009. In addition, Wirsol has an option to purchase an additional 20 MW of PV modules from Yingli Green Energy in 2009.
"We are please to sign this contract with Yingli Green Energy," commented Mr. Markus Wirth, managing director of Wirsol. "As a German solar specialist with the quality seal of RAL certification, we work under strictly controlled quality standards: All work processes are documented and transparent, from the first consultation to installation and beyond. We have gained sufficient confidence in Yingli Green Energy's capability to provide high-quality and reliable products through testing its products under real conditions in our own solar park and from our visits to its facilities which impressed us with its advanced automation level and rigorous quality program."
"We are pleased to announce our sales contract with City Solar and Wirsol," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We have established a solid position as a reliable PV module supplier for large-scale PV power plants and other solar power solutions worldwide, thanks to our successful track record and long history in cooperating with utilities and PV system installers in Europe. We expect to continue to capture market share in a more competitive environment with our high quality products, brand recognition and competitive PV module pricing. In addition, we believe the recent dramatic decrease in polysilicon prices and our excellent performance in maintaining low non-polysilicon costs will further help us along the way towards achieving grid parity."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com .
20 MW PV Module Sales Agreement with City Solar
Under the sales agreement with City Solar, one of the leading German developers and turnkey providers of large-scale PV power plants, Yingli Green Energy is expected to supply 20 MW of PV modules to City Solar in 2009. In addition, City Solar has an option to purchase an additional 30 MW of PV modules from Yingli Green Energy in 2009.
"We are delighted to initiate our business relationship with Yingli Green Energy," commented Mr. Steffen Kammler, President and Chief Executive Officer of City Solar. "We believe we can provide more profitable solar power plants to our customers by using Yingli Green Energy's PV modules with their reliable quality and stable output performance, which are vital for the successful and profitable operation of solar power plants throughout their lifetime."
15 MW PV Module Sales Agreement with Wirsol
Under the sales agreement with Wirsol, one of the leading German PV system specialists delivering solar-based solutions to both residential and commercial customers, Yingli Green Energy is expected to supply 15 MW of PV modules to Wirsol from December 2008 through October 2009. In addition, Wirsol has an option to purchase an additional 20 MW of PV modules from Yingli Green Energy in 2009.
"We are please to sign this contract with Yingli Green Energy," commented Mr. Markus Wirth, managing director of Wirsol. "As a German solar specialist with the quality seal of RAL certification, we work under strictly controlled quality standards: All work processes are documented and transparent, from the first consultation to installation and beyond. We have gained sufficient confidence in Yingli Green Energy's capability to provide high-quality and reliable products through testing its products under real conditions in our own solar park and from our visits to its facilities which impressed us with its advanced automation level and rigorous quality program."
"We are pleased to announce our sales contract with City Solar and Wirsol," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We have established a solid position as a reliable PV module supplier for large-scale PV power plants and other solar power solutions worldwide, thanks to our successful track record and long history in cooperating with utilities and PV system installers in Europe. We expect to continue to capture market share in a more competitive environment with our high quality products, brand recognition and competitive PV module pricing. In addition, we believe the recent dramatic decrease in polysilicon prices and our excellent performance in maintaining low non-polysilicon costs will further help us along the way towards achieving grid parity."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com .
TRINA SOLAR STARTS WAFER SHIPMENT FOR ATLANTA CONVENTION CENTER
BEIJING, Dec 19, 2008 (AsiaPulse via COMTEX) -- China's integrated solar modules producer Trina Solar Limited (NYSE:TSL) has commenced shipment of wafers and modules for Atlantic City Convention Center (ACCC) of the United States, a source with Trina Solar was quoted by local media.
Qiu Diming, director of the company's technology committee, declined to deliberate the exact quantity of shipment for the time being as well as its time table for the development of UMG-based modules.
Trina Solar will provide as many as 13,400 modules in a bid to build a rooftop solar power generation system at World Congress Center with acreage of 180,000 square feet.
This project is expected to generate 2.8 million kilowatt hours of electricity each year, serving 280 households.
As the largest rooftop power generation project in North America, the system has a capacity of 2.4 MW.
Qiu Diming, director of the company's technology committee, declined to deliberate the exact quantity of shipment for the time being as well as its time table for the development of UMG-based modules.
Trina Solar will provide as many as 13,400 modules in a bid to build a rooftop solar power generation system at World Congress Center with acreage of 180,000 square feet.
This project is expected to generate 2.8 million kilowatt hours of electricity each year, serving 280 households.
As the largest rooftop power generation project in North America, the system has a capacity of 2.4 MW.
Trina Solar Announces 'MeSolar' Brand UMG-Silicon Based Product Line
18 December 2008
CHANGZHOU, China, Dec. 18 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (''Trina Solar'' or the ''Company''), a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, today announced the launch of the brand name "MeSolar" for its newly in-house developed line of products based on Upgraded Metallurgical Grade ("UMG") silicon materials.
The product line is part of Trina Solar's strategy to expand its product portfolio in order to address customers' increasing demand for lower cost solar module systems. "We are pleased to introduce the brand name 'MeSolar' which represents our high quality and efficient modules using UMG silicon materials, with advantageous prices for our customers," stated Arturo Herrero, Trina Solar's Vice President of Sales & Marketing. "MeSolar" products undergo a stringent production process as well as rigorous quality control checks as a result of initial optimization and critical development stages during testing along the entire value chain, starting from UMG silicon materials, wafers, and cells, to modules, the final product.
Jifan Gao, Trina Solar's Chairman and CEO, stated, "We expect that UMG feedstock technology will continue to advance in the next year, which combine with improved manufacturing efficiencies should provide significant and sustainable cost advantages forward for added value to our customers."
Trina Solar plans to launch production of "MeSolar", employing its existing, dedicated manufacturing lines, with sales and deliveries planned throughout 2009. The UMG-based "MeSolar" modules have a 20-year warranty.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
CHANGZHOU, China, Dec. 18 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (''Trina Solar'' or the ''Company''), a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, today announced the launch of the brand name "MeSolar" for its newly in-house developed line of products based on Upgraded Metallurgical Grade ("UMG") silicon materials.
The product line is part of Trina Solar's strategy to expand its product portfolio in order to address customers' increasing demand for lower cost solar module systems. "We are pleased to introduce the brand name 'MeSolar' which represents our high quality and efficient modules using UMG silicon materials, with advantageous prices for our customers," stated Arturo Herrero, Trina Solar's Vice President of Sales & Marketing. "MeSolar" products undergo a stringent production process as well as rigorous quality control checks as a result of initial optimization and critical development stages during testing along the entire value chain, starting from UMG silicon materials, wafers, and cells, to modules, the final product.
Jifan Gao, Trina Solar's Chairman and CEO, stated, "We expect that UMG feedstock technology will continue to advance in the next year, which combine with improved manufacturing efficiencies should provide significant and sustainable cost advantages forward for added value to our customers."
Trina Solar plans to launch production of "MeSolar", employing its existing, dedicated manufacturing lines, with sales and deliveries planned throughout 2009. The UMG-based "MeSolar" modules have a 20-year warranty.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
China Sunergy initiates commercial production of four solar cell manufacturing lines
18 December 2008
Nanjing-based China Sunergy Co., Ltd. has brought four high-efficiency SE solar cell manufacturing lines into commercial production at a ceremony held to celebrate the commencement of China Sunergy's 3rd stage production. The door of the 3rd stage production lines was opened to visitors on the day, with attendees including China Sunergy executives Tingxiu Lu, Chairman, Dr. Allen Wang, CEO, and Dr. Jianhua Zhao, CTO.
These additional four lines bring the company's manufacturing line total to ten, five of which are for high-efficiency SE solar cells, four for HP solar cells, and one line that manufactures common P-type multicrystalline solar cells. The company now has an overall production capacity of close to 320MW.
The company also stated that it "has got enough cash for production and development in this year and next year" in its Q3 quarterly report. More than 50% of the company's orders for 2009 have at this point been finalised, including the recent deal with Solarwatt AG that will see Sunergy deliver over 22MW of solar cells over the course of next year.
Nanjing-based China Sunergy Co., Ltd. has brought four high-efficiency SE solar cell manufacturing lines into commercial production at a ceremony held to celebrate the commencement of China Sunergy's 3rd stage production. The door of the 3rd stage production lines was opened to visitors on the day, with attendees including China Sunergy executives Tingxiu Lu, Chairman, Dr. Allen Wang, CEO, and Dr. Jianhua Zhao, CTO.
These additional four lines bring the company's manufacturing line total to ten, five of which are for high-efficiency SE solar cells, four for HP solar cells, and one line that manufactures common P-type multicrystalline solar cells. The company now has an overall production capacity of close to 320MW.
The company also stated that it "has got enough cash for production and development in this year and next year" in its Q3 quarterly report. More than 50% of the company's orders for 2009 have at this point been finalised, including the recent deal with Solarwatt AG that will see Sunergy deliver over 22MW of solar cells over the course of next year.
Tuesday, December 16, 2008
Suntech Opens Sales and Customer Service Office in Italy
SAN FRANCISCO and WUXI, China, Dec. 16 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest photovoltaic (PV) module manufacturer, today announced the opening of a sales office in Milan, Italy to provide enhanced sales and service support to Suntech's Italian customer base.
Jerry Stokes, Suntech's President of Europe, said, "Our new office in Milan is another step towards the increasing globalization of Suntech's sales and service capabilities. To complement our core sales competency, we are building a multi-faceted team across Europe that is in tune with local market conditions and can respond to customer needs promptly. We believe our customers appreciate this commitment and see Suntech as a reliable, long term solar partner."
Mauro Sgherri, Suntech's Director of Sales, Italy, said, "Suntech's involvement in many of the highest profile solar projects in Europe combined with a deep dedication to quality and continuous technology improvement distinguishes Suntech's solar offering in the Italian market. Moreover, Suntech's industry leading scale, broad product portfolio and timely product delivery highlight our market leadership. We have established a top tier customer base of companies that have long term solar plans and have already built an order book in Italy of over 130 megawatts for 2009. We look forward to supporting the growth plans of our Italian customers through the stablesupply of high quality solar modules and responsive customer service."
The Italian market is set to grow rapidly in 2009 due to strong support from the Italian government in the form of solar subsidies that range from EUR0.36/kWh for large ground-mounted PV systems and up to EUR0.49/kWh for building integrated PV systems. The high solar irradiation provides excellent conditions for generating solar energy.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is a world-leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high-quality, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech hassales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
Jerry Stokes, Suntech's President of Europe, said, "Our new office in Milan is another step towards the increasing globalization of Suntech's sales and service capabilities. To complement our core sales competency, we are building a multi-faceted team across Europe that is in tune with local market conditions and can respond to customer needs promptly. We believe our customers appreciate this commitment and see Suntech as a reliable, long term solar partner."
Mauro Sgherri, Suntech's Director of Sales, Italy, said, "Suntech's involvement in many of the highest profile solar projects in Europe combined with a deep dedication to quality and continuous technology improvement distinguishes Suntech's solar offering in the Italian market. Moreover, Suntech's industry leading scale, broad product portfolio and timely product delivery highlight our market leadership. We have established a top tier customer base of companies that have long term solar plans and have already built an order book in Italy of over 130 megawatts for 2009. We look forward to supporting the growth plans of our Italian customers through the stablesupply of high quality solar modules and responsive customer service."
The Italian market is set to grow rapidly in 2009 due to strong support from the Italian government in the form of solar subsidies that range from EUR0.36/kWh for large ground-mounted PV systems and up to EUR0.49/kWh for building integrated PV systems. The high solar irradiation provides excellent conditions for generating solar energy.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is a world-leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high-quality, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech hassales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
Solar cell maker E-ton signs two long-term supply contracts
Nuying Huang, Taipei; Yvonne Yu, DIGITIMES [Tuesday 16 December 2008]
E-ton Solar Tech, a Taiwan-based maker of crystalline silicon solar cells, announced that the company has signed long-term silicon wafer supply contracts with two separate companies, according to a company filing with the Taiwan Stock Exchange (TSE).
According to the filing, E-ton will supply 6-inch polysilicon wafers totaling 309 MWp over six years to one company, while supplying a total of 326MWp worth of monocrystalline 6-inch wafers over seven years to another company.
E-ton did not revel the names of its customers.
E-ton Solar Tech, a Taiwan-based maker of crystalline silicon solar cells, announced that the company has signed long-term silicon wafer supply contracts with two separate companies, according to a company filing with the Taiwan Stock Exchange (TSE).
According to the filing, E-ton will supply 6-inch polysilicon wafers totaling 309 MWp over six years to one company, while supplying a total of 326MWp worth of monocrystalline 6-inch wafers over seven years to another company.
E-ton did not revel the names of its customers.
China solar cell makers may launch fresh price war
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Tuesday 16 December 2008]
Many second-tier and small makers of crystalline silicon solar cells in China, in order to clear high inventory levels for cash revenues, waged a fierce price war on the spot market in November, and some of them may do so again to further reduce inventories before the off-season period following Christmas and New Year, according to industry sources in Taiwan.
Spot prices of solar cells dropped to US$2.4-3.0/watt in November 2008 due to the price war, and have now fallen further to US$2.2-3.0/watt, the sources pointed out. Because current spot prices are almost at bottom levels, they are unlikely to slip much even if China-based makers kick off another wave of pricing competition, the sources analyzed.
Many second-tier and small makers of crystalline silicon solar cells in China, in order to clear high inventory levels for cash revenues, waged a fierce price war on the spot market in November, and some of them may do so again to further reduce inventories before the off-season period following Christmas and New Year, according to industry sources in Taiwan.
Spot prices of solar cells dropped to US$2.4-3.0/watt in November 2008 due to the price war, and have now fallen further to US$2.2-3.0/watt, the sources pointed out. Because current spot prices are almost at bottom levels, they are unlikely to slip much even if China-based makers kick off another wave of pricing competition, the sources analyzed.
Monday, December 15, 2008
Metallurgical Group, Baogang to tap polysilicon market
By Jiang Wei (chinadaily.com.cn)
Updated: 2008-12-15 13:13
China Metallurgical Group Corporation (MCC), the country's leading mining and smelting operator, and Baotou Iron and Steel Group (Baogang) plan to invest 8 billion yuan ($1.17 billion) in a polysilicon-manufacturing project, taking advantage of the consolidation of their respective industries.
The two sides signed an agreement last Thursday but details of the project are still being worked out, China Business Journal reported. The project, if completed, will produce 5,000 tons of polysilicon a year.
The price of polysilicon, a major material used in producing solar panels, has dipped to 1,000 yuan per ton from 5,000 yuan per ton earlier this year while capability increased in the country, a development that experts say indicates an imminent industry consolidation.
Yang Yu'an, an industry expert, was quoted by Chinese Business Journal as saying that MCC has been involved in the sector for years but that Baogang will take the initiative for strategic planning.
Updated: 2008-12-15 13:13
China Metallurgical Group Corporation (MCC), the country's leading mining and smelting operator, and Baotou Iron and Steel Group (Baogang) plan to invest 8 billion yuan ($1.17 billion) in a polysilicon-manufacturing project, taking advantage of the consolidation of their respective industries.
The two sides signed an agreement last Thursday but details of the project are still being worked out, China Business Journal reported. The project, if completed, will produce 5,000 tons of polysilicon a year.
The price of polysilicon, a major material used in producing solar panels, has dipped to 1,000 yuan per ton from 5,000 yuan per ton earlier this year while capability increased in the country, a development that experts say indicates an imminent industry consolidation.
Yang Yu'an, an industry expert, was quoted by Chinese Business Journal as saying that MCC has been involved in the sector for years but that Baogang will take the initiative for strategic planning.
Saturday, December 13, 2008
Shenyang 6,000 metric ton polysilicon project investment agreement signed
2008 December 8th, Liaoning Shuangyi Silicon, American Chemtex and Shenyang municapal government signed to invest in polysilicon production project.
The total investment will be over 5 billion RMB, and the project will be completed in 2014, and the total polysilicon production capacity will reach 6,000 metric tons.
The total investment will be over 5 billion RMB, and the project will be completed in 2014, and the total polysilicon production capacity will reach 6,000 metric tons.
Friday, December 12, 2008
Yichang Nanbo Silicon (CSG) Trichlorosilane Leaked
On the morning of 2008 October 10th, Trichlorosilane pipe leakage took place at Yichang Nanbo Silicon (CSG) during the polysilicon testing production.
The danger was removed two hours' later, and no wound and death is reported except that 18 people felt uncomfortable and stayed at the hospital.
It is said that the failure was caused by the crack of the weld seam.
The danger was removed two hours' later, and no wound and death is reported except that 18 people felt uncomfortable and stayed at the hospital.
It is said that the failure was caused by the crack of the weld seam.
Goldman Sachs, CDH invest nearly 100 mln usd in China's Himin Solar
12.12.08
BEIJING (XFN-ASIA) - Goldman Sachs and CDH Investment have jointly invested nearly 100 mln usd in Himin Solar Energy Group, based in eastern China's Shandong province, the three parties said.
Huang Ming, chairman of Himin, said at a media briefing that the funds would be used to help fuel the company's growth and finance research and development.
The deal was initially announced in early 2008, but was delayed due to the financial crisis, said Huang.
Himin will seek to float A-shares, Huang told reporters.
'The timing of a listing is not entirely up to us,' he said, adding that some 300 companies are in the queue for regulatory approval.
Huang declined to disclose the stake that Goldman Sachs and CDH have secured.
A source close to the matter told XFN-Asia that the stake is around 15 pct.
'Goldman Sachs and CDH will continue to fund Himin Solar if Himin continues to expand,' Goldman Sachs (Asia) managing director Zhang Yi said at the briefing.
Himin, China's top maker of solar water heaters, plans to set up marketing and logistics centers in Xi'an, Wuhan and Hangzhou. The company has a major R&D center in Qingdao.
The company is seeking to expand its market by 50 to 100 pct next year.
BEIJING (XFN-ASIA) - Goldman Sachs and CDH Investment have jointly invested nearly 100 mln usd in Himin Solar Energy Group, based in eastern China's Shandong province, the three parties said.
Huang Ming, chairman of Himin, said at a media briefing that the funds would be used to help fuel the company's growth and finance research and development.
The deal was initially announced in early 2008, but was delayed due to the financial crisis, said Huang.
Himin will seek to float A-shares, Huang told reporters.
'The timing of a listing is not entirely up to us,' he said, adding that some 300 companies are in the queue for regulatory approval.
Huang declined to disclose the stake that Goldman Sachs and CDH have secured.
A source close to the matter told XFN-Asia that the stake is around 15 pct.
'Goldman Sachs and CDH will continue to fund Himin Solar if Himin continues to expand,' Goldman Sachs (Asia) managing director Zhang Yi said at the briefing.
Himin, China's top maker of solar water heaters, plans to set up marketing and logistics centers in Xi'an, Wuhan and Hangzhou. The company has a major R&D center in Qingdao.
The company is seeking to expand its market by 50 to 100 pct next year.
Astronergy Aims at Thin Film PV Market
Yang Liyou, CEO of Astronergy, a Chinese photovoltaics startup, discussed his company and China's PV scene with Hedy Qian, managing editor of Semiconductor International China.
Crystalline silicon-based PV technology is relatively mature, and much of the future growth will come from improving thin-film PV efficiencies, said Yang, who previously worked at BP Solar.
Hedy Qian, Managing Editor, SI China -- Semiconductor International, 12/11/2008 10:25:00 AM
Starting from crystalline silicon photovoltaics products with plans for the high-end thin-film solar cell market, Astronergy Inc. (Hangzhou, Zhejiang) launched its line for making amorphous/microcrystalline silicon (a-Si/µc-Si) tandem PV modules in November this year.
Yang Liyou, CEO of AstronergyAccording to the company, the initial average conversion efficiency will reach 9%, and the goal is to achieve a 10% average conversion efficiency in the near future. "Whether in terms of technology or in terms of scale, Astronergy is leading China's market for high-end thin-film PV modules," said Yang Liyou, who is both the CEO and CTO of Astronergy. Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.
SI China: Can you talk about the current status and future prospects of the industry from two perspectives - thin film and crystalline solar cell?
Yang: Market demand is closely related to the quality and price of PV products. Price can constrain the demand to some extent. With the continuous development of technologies — in terms of the commercialization process of crystalline silicon technology, conversion efficiency, and production and manufacturing levels - China's PV market is closely following the beat set by the global PV market. But the crystalline silicon technology is relatively mature, and at the current technological level, future growth will slow down.
The thin-film cell belongs to another product category, and the materials used are completely different from those used for crystalline silicon products. When the market is in urgent need of a new generation of products with a better performance-price ratio and a lower cost to meet the demand for PV products, it's obvious that the future of the thin-film cell is very promising.
In the marketplace, the gross profit margin is close to 50% for thin-film cells, whereas it's only about 15% for crystalline silicon cells. With the increased production of polycrystalline silicon, the cost of crystalline silicon cells also will be going down. However, the final cost of the thin-film cell will still be much lower than that of crystalline silicon cells.
SI China: For Astronergy, which specializes in thin-film cells, how is the thin-film cell business doing? And what kind of role will crystalline silicon cells play in the future?
Yang: Crystalline silicon products are currently the mainstream products in the marketplace. They can be launched quickly and be easily accepted by the market. The strategy of Astronergy is to start from crystalline silicon, and then to move into the PV market quickly, to create its own customer groups. This will be very helpful for our future development. The thin-film cell business is still in the preparation stage, but the technology is essentially already in place - the a-Si/µc-Si tandem technology will be used. Globally Astronergy is among the earliest manufacturers to enter the high-end multinode thin-film cell field. Most domestic companies in the thin-film cell field now choose the single-junction amorphous silicon technology, which is relatively simple, to start from. The a-Si/µc-Si tandem technology is much more difficult, but the products will have better functions, and their average conversion efficiency will also be higher. In the initial stage, after the thin-film products become stable, the average conversion efficiency will be around 9%; and in a very short time, a 10% average conversion efficiency can be expected through technological improvement.
Currently we are focusing on transferring foreign thin-film experiences and technologies into China. We are very confident that we can bring the products out of the laboratories by building a mature commercialized production line with a high conversion rate.
SI China: Can you please talk about the impact of the global financial crisis on China’s PV industry?
Yang: I think that the impact on China is relatively small. Before the financial crisis, I had said that China needs to jump out of the low-level processing industry and actively pursue structural transformation. In the future, new energy will become a significant industry in the world and PV is a very good cut-in point, because this industry is especially suitable for China, and China does not have a big technological gap with the world in this field.
SI China: Can you talk about the roadmap for Astronergy in the next two or three years?
Astronergy will emphasize thin-film PV technology.Yang: At the end of November, our first intermediary experimental line was installed and underwent a test run, and we will have our own products early next year. At the beginning the output will not be very high. First of all, we will reach our preset goal for average conversion efficiency. The mass production line is expected to be installed and test run in the first quarter of next year, and will go into mass production in the middle of next year. This is our first goal. After this goal is reached, Astronergy will increase the production scale as soon as possible, and the production capacity will reach 60 MW in 2009 and180 MW in 2010, and will become higher and higher after 2011. Of course, the growth rate may be adjusted based on some unexpected factors. If the market needs a higher production capacity, we can grow faster. In the next 3-4 years, the production capacity can be expected to reach 300-400 MW.
I believe that by 2011 the thin-film cell from Astronergy will be able to take a significant share — 20% or even higher — in China’s market for high-end thin-film cells. Within a period of time, the thin-film market will shift from the low-end thin films to the high-end ones, and in this process, we hope that we can capitalize on our advantage in production capacity accumulated in the initial stage to go faster in realizing the economy of scale in mass production.
Crystalline silicon-based PV technology is relatively mature, and much of the future growth will come from improving thin-film PV efficiencies, said Yang, who previously worked at BP Solar.
Hedy Qian, Managing Editor, SI China -- Semiconductor International, 12/11/2008 10:25:00 AM
Starting from crystalline silicon photovoltaics products with plans for the high-end thin-film solar cell market, Astronergy Inc. (Hangzhou, Zhejiang) launched its line for making amorphous/microcrystalline silicon (a-Si/µc-Si) tandem PV modules in November this year.
Yang Liyou, CEO of AstronergyAccording to the company, the initial average conversion efficiency will reach 9%, and the goal is to achieve a 10% average conversion efficiency in the near future. "Whether in terms of technology or in terms of scale, Astronergy is leading China's market for high-end thin-film PV modules," said Yang Liyou, who is both the CEO and CTO of Astronergy. Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.
SI China: Can you talk about the current status and future prospects of the industry from two perspectives - thin film and crystalline solar cell?
Yang: Market demand is closely related to the quality and price of PV products. Price can constrain the demand to some extent. With the continuous development of technologies — in terms of the commercialization process of crystalline silicon technology, conversion efficiency, and production and manufacturing levels - China's PV market is closely following the beat set by the global PV market. But the crystalline silicon technology is relatively mature, and at the current technological level, future growth will slow down.
The thin-film cell belongs to another product category, and the materials used are completely different from those used for crystalline silicon products. When the market is in urgent need of a new generation of products with a better performance-price ratio and a lower cost to meet the demand for PV products, it's obvious that the future of the thin-film cell is very promising.
In the marketplace, the gross profit margin is close to 50% for thin-film cells, whereas it's only about 15% for crystalline silicon cells. With the increased production of polycrystalline silicon, the cost of crystalline silicon cells also will be going down. However, the final cost of the thin-film cell will still be much lower than that of crystalline silicon cells.
SI China: For Astronergy, which specializes in thin-film cells, how is the thin-film cell business doing? And what kind of role will crystalline silicon cells play in the future?
Yang: Crystalline silicon products are currently the mainstream products in the marketplace. They can be launched quickly and be easily accepted by the market. The strategy of Astronergy is to start from crystalline silicon, and then to move into the PV market quickly, to create its own customer groups. This will be very helpful for our future development. The thin-film cell business is still in the preparation stage, but the technology is essentially already in place - the a-Si/µc-Si tandem technology will be used. Globally Astronergy is among the earliest manufacturers to enter the high-end multinode thin-film cell field. Most domestic companies in the thin-film cell field now choose the single-junction amorphous silicon technology, which is relatively simple, to start from. The a-Si/µc-Si tandem technology is much more difficult, but the products will have better functions, and their average conversion efficiency will also be higher. In the initial stage, after the thin-film products become stable, the average conversion efficiency will be around 9%; and in a very short time, a 10% average conversion efficiency can be expected through technological improvement.
Currently we are focusing on transferring foreign thin-film experiences and technologies into China. We are very confident that we can bring the products out of the laboratories by building a mature commercialized production line with a high conversion rate.
SI China: Can you please talk about the impact of the global financial crisis on China’s PV industry?
Yang: I think that the impact on China is relatively small. Before the financial crisis, I had said that China needs to jump out of the low-level processing industry and actively pursue structural transformation. In the future, new energy will become a significant industry in the world and PV is a very good cut-in point, because this industry is especially suitable for China, and China does not have a big technological gap with the world in this field.
SI China: Can you talk about the roadmap for Astronergy in the next two or three years?
Astronergy will emphasize thin-film PV technology.Yang: At the end of November, our first intermediary experimental line was installed and underwent a test run, and we will have our own products early next year. At the beginning the output will not be very high. First of all, we will reach our preset goal for average conversion efficiency. The mass production line is expected to be installed and test run in the first quarter of next year, and will go into mass production in the middle of next year. This is our first goal. After this goal is reached, Astronergy will increase the production scale as soon as possible, and the production capacity will reach 60 MW in 2009 and180 MW in 2010, and will become higher and higher after 2011. Of course, the growth rate may be adjusted based on some unexpected factors. If the market needs a higher production capacity, we can grow faster. In the next 3-4 years, the production capacity can be expected to reach 300-400 MW.
I believe that by 2011 the thin-film cell from Astronergy will be able to take a significant share — 20% or even higher — in China’s market for high-end thin-film cells. Within a period of time, the thin-film market will shift from the low-end thin films to the high-end ones, and in this process, we hope that we can capitalize on our advantage in production capacity accumulated in the initial stage to go faster in realizing the economy of scale in mass production.
Thursday, December 11, 2008
Intertek launches PV module testing center in Shanghai
BEIJING, Dec 11, 2008 (Xinhua via COMTEX) --British product quality and safety solution provider Intertek Group Plc. (ITRK.LSE) recently launched a full-service testing center of solar photovoltaic modules in Shanghai in a bid to provide localized services.
As the first one of this kind in the Chinese mainland, this testing center will help local solar product makers gain certifications on global markets and slash the time of export cycle with less payout in this regard.
Greegg Tiemann, executive vice president of Intertek, said that Chinese solar PV producers are enabled to obtain access to world market more quickly since the testing center is situated near major solar product manufacturers in Southeast China's Zhejiang Province.
Now, Intertek could release ETL mark and CE mark for North American market and European market, respectively, in addition to Intertek PV mark.
Meanwhile, Intertek expects to get allowed to issue CB certificate and PV Cap certificate in the first half of 2009, with efforts under way to participate in IECEE CB scheme with 43 member countries.
As the first one of this kind in the Chinese mainland, this testing center will help local solar product makers gain certifications on global markets and slash the time of export cycle with less payout in this regard.
Greegg Tiemann, executive vice president of Intertek, said that Chinese solar PV producers are enabled to obtain access to world market more quickly since the testing center is situated near major solar product manufacturers in Southeast China's Zhejiang Province.
Now, Intertek could release ETL mark and CE mark for North American market and European market, respectively, in addition to Intertek PV mark.
Meanwhile, Intertek expects to get allowed to issue CB certificate and PV Cap certificate in the first half of 2009, with efforts under way to participate in IECEE CB scheme with 43 member countries.
JA Solar Again Cuts Q4 Guidance
Posted by Eric Savitz
The troubles in the solar sector continue to deepen.
JA Solar this afternoon again cut its Q4 guidance.
The solar cell company now sees revenue of about $124 million, down from previous guidance of $191.5 million to $220.9 million. The earlier guidance, which JA Solar had provided on November 12, had been dramatically below the then-consensus view of $371.4 million.
The company said it continues to see gross margin of 5% to 7%, and break-even non-GAAP earnings per ADS
JA Solar now sees 2008 production of 250-260 MW, down from earlier guidance of 310 MW.
In a statement, CEO Samuel Yang said that the company over the past few weeks has seen "a dramatic slowdown in orders" due to macro economic conditions.
Yang said he expects the company to be profitable in 2009.
After hours, JASO is down 17 cents, or 6%, to $2.68.
The troubles in the solar sector continue to deepen.
JA Solar this afternoon again cut its Q4 guidance.
The solar cell company now sees revenue of about $124 million, down from previous guidance of $191.5 million to $220.9 million. The earlier guidance, which JA Solar had provided on November 12, had been dramatically below the then-consensus view of $371.4 million.
The company said it continues to see gross margin of 5% to 7%, and break-even non-GAAP earnings per ADS
JA Solar now sees 2008 production of 250-260 MW, down from earlier guidance of 310 MW.
In a statement, CEO Samuel Yang said that the company over the past few weeks has seen "a dramatic slowdown in orders" due to macro economic conditions.
Yang said he expects the company to be profitable in 2009.
After hours, JASO is down 17 cents, or 6%, to $2.68.
China Sunergy, Solarwatt sign sales agreement
12/10/2008
NANJING, CHINA: Solar cell manufacturer China Sunergy has entered into an agreement with German solar module manufacturer Solarwatt AG to provide 22 MW of solar cells in 2009.
China Sunergy will supply Solarwatt with high efficiency mono-crystalline solar cells at fixed prices beginning in January 2009 and continuing at a consistent level over the rest of the year.
"I am pleased to have signed this agreement with Solarwatt, a leading firm within one of the most dynamic solar markets in the world,"said China Sunergy CEO and Director Dr. Ruennsheng Allen Wang.
"Despite the recent uncertain sales environment, we have been successful in securing important sales agreements with leading companies in key markets, and we remain well positioned to benefit as further clarity returns to the market."
NANJING, CHINA: Solar cell manufacturer China Sunergy has entered into an agreement with German solar module manufacturer Solarwatt AG to provide 22 MW of solar cells in 2009.
China Sunergy will supply Solarwatt with high efficiency mono-crystalline solar cells at fixed prices beginning in January 2009 and continuing at a consistent level over the rest of the year.
"I am pleased to have signed this agreement with Solarwatt, a leading firm within one of the most dynamic solar markets in the world,"said China Sunergy CEO and Director Dr. Ruennsheng Allen Wang.
"Despite the recent uncertain sales environment, we have been successful in securing important sales agreements with leading companies in key markets, and we remain well positioned to benefit as further clarity returns to the market."
Wednesday, December 10, 2008
BYD Solar Cell Project Broke Ground in Shangluo City
2008 December 10th, BYD Solar Cell Project broke ground in Shangluo City.
The investment agreement was signed on October 30th, and the total investment will be 2.5 billion RMB.
The investment for the first phase project is 500 million RMB, and will be completed in one year. Then BYD will have 100MW solar cell production capacity.
The investment agreement was signed on October 30th, and the total investment will be 2.5 billion RMB.
The investment for the first phase project is 500 million RMB, and will be completed in one year. Then BYD will have 100MW solar cell production capacity.
CHINA TO INCREASE SUPPORT FOR SOLAR POWER GENERATION
BEIJING, Dec 10, 2008 (AsiaPulse via COMTEX) -- The China National Development and Reform Commission (NDRC) and its affiliate National Energy Bureau are currently working on policy support and subsidy measures for solar power generation in China, said Shi Dinghuan, chairman of Chinese Renewable Energy Society (CRES) recently.
Shi noted that the government was increasing input in the development of renewable energy in terms of financial investment, R&D support and demonstration projects.
"Investment into energy projects, clean energy and ecological environment construction would contribute to stimulating domestic demand, which will also benefit further adjustment of China's energy structure in the development of low-carbon economy," said Shi.
Shi noted that the government was increasing input in the development of renewable energy in terms of financial investment, R&D support and demonstration projects.
"Investment into energy projects, clean energy and ecological environment construction would contribute to stimulating domestic demand, which will also benefit further adjustment of China's energy structure in the development of low-carbon economy," said Shi.
Suntech Power and Open Energy Sign Solar Roof Tile Licensing Deal
License Agreement Combines Open Energy's Award-Winning Design and Innovation with Suntech's Manufacturing and Marketing Expertise
[09-December-2008]
SAN DIEGO and SAN FRANCISCO, Dec. 9 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading manufacturer of photovoltaic (PV) modules, and Open Energy Corporation (OTC Bulletin Board: OEGY), a developer of innovative and elegant BIPV products, energy management applications and solar energy solutions announced that they have entered into an exclusive agreement licensing the worldwide manufacture, distribution and marketing of Open Energy's building integrated solar roof tile product to Suntech. Open Energy granted Suntech an exclusive license of the intellectual property incorporated into its solar roof tile product and any similar or new generation tile roof products. The solar roof tiles are 50 watt four foot BIPV tiles and are available in different color panels.
"The relationship with Suntech gives Open Energy access to unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia," said David Field, president & chief executive officer of Open Energy. "This allows us to reach even more international customers and gives us the opportunity to concentrate on our award-winning and innovative product design for next generation products. As the solar industry continues to grow in 2009 particularly in Europe, where BIPV solar systems enjoy substantial market premiums, it will be critical to have the reach and scale that the relationship with Suntech brings to our company. We chose to work with Suntech because they have world class manufacturing, an incredible sales force and a solid foundation of resources and customers."
"Open Energy is widely recognized for designing innovative, award-winning solar solutions, while Suntech is a world leader in manufacturing, marketing and sales of solar products," said Leonard May, Suntech Managing Director of BIPV Products. "By combining these core strengths, we are confident that we will consistently deliver innovative products, the highest quality and outstanding value to our customers capitalizing on the strengths of both companies."
Eagle Roofing Products is expected to continue as master distributor of the tile product in the U.S.
About Open Energy
Open Energy Corporation is a next-generation solar energy company that develops clean energy solutions, innovative solar products and energy management applications. Open Energy's award-winning products include proprietary, cost-competitive and attractive BIPV solar tiles, membranes and asphalt/composition products. In addition, the EcoTouch Energy Management System gives consumers control over their energy usage while saving money. Open Energy's portfolio of products and services are coupled with innovative financing to enable green Solar Communities to provide low-cost power with little to no upfront cost to the consumer. Open Energy is headquartered in Solana Beach, California. For more information, visit http://www.openenergycorp.com .
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK brand. Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
[09-December-2008]
SAN DIEGO and SAN FRANCISCO, Dec. 9 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading manufacturer of photovoltaic (PV) modules, and Open Energy Corporation (OTC Bulletin Board: OEGY), a developer of innovative and elegant BIPV products, energy management applications and solar energy solutions announced that they have entered into an exclusive agreement licensing the worldwide manufacture, distribution and marketing of Open Energy's building integrated solar roof tile product to Suntech. Open Energy granted Suntech an exclusive license of the intellectual property incorporated into its solar roof tile product and any similar or new generation tile roof products. The solar roof tiles are 50 watt four foot BIPV tiles and are available in different color panels.
"The relationship with Suntech gives Open Energy access to unmatched manufacturing capabilities and a worldwide distribution network, with particular strength in Europe and Asia," said David Field, president & chief executive officer of Open Energy. "This allows us to reach even more international customers and gives us the opportunity to concentrate on our award-winning and innovative product design for next generation products. As the solar industry continues to grow in 2009 particularly in Europe, where BIPV solar systems enjoy substantial market premiums, it will be critical to have the reach and scale that the relationship with Suntech brings to our company. We chose to work with Suntech because they have world class manufacturing, an incredible sales force and a solid foundation of resources and customers."
"Open Energy is widely recognized for designing innovative, award-winning solar solutions, while Suntech is a world leader in manufacturing, marketing and sales of solar products," said Leonard May, Suntech Managing Director of BIPV Products. "By combining these core strengths, we are confident that we will consistently deliver innovative products, the highest quality and outstanding value to our customers capitalizing on the strengths of both companies."
Eagle Roofing Products is expected to continue as master distributor of the tile product in the U.S.
About Open Energy
Open Energy Corporation is a next-generation solar energy company that develops clean energy solutions, innovative solar products and energy management applications. Open Energy's award-winning products include proprietary, cost-competitive and attractive BIPV solar tiles, membranes and asphalt/composition products. In addition, the EcoTouch Energy Management System gives consumers control over their energy usage while saving money. Open Energy's portfolio of products and services are coupled with innovative financing to enable green Solar Communities to provide low-cost power with little to no upfront cost to the consumer. Open Energy is headquartered in Solana Beach, California. For more information, visit http://www.openenergycorp.com .
About Suntech
Suntech Power Holdings Co., Ltd. is a world leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of building integrated photovoltaic (BIPV) products under the MSK brand. Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
Suntech Power: Now a Takeover Target
December 09, 2008
The United Nations Climate Change Conference is being held in Poland this week. Representatives from the top four Photovoltaic (PV) makers gathered in Poznan to propose the rapid implementation and expansion of policies designed to support the growth of the solar industry and the global adoption of solar technology as a major contributor to greenhouse gas (GHG) reduction in support of global climate goals.
As the top two solar companies, Suntech Power and First Solar dominate the European and U.S. markets respectively. According to Suntech CEO Dr. Zhengrong Shi, the company is dedicated to reducing the cost of solar electricity to grid parity through increasing economies of scale, improving efficient utilization of raw materials such as silicon, and developing more advanced technology and new applications. While no solar company has achieved grid parity, Suntech is leading the way. The company is also developing a new thin film technology with 50% efficiency.
Despite all of these positive developments, STP's stock price has been down as much as 90% from its 52-week high because of hedge fund redemptions in the last few months. Investors have started to realize its true value recently but it is still very much undervalued.
Recently, many solar companies have rolled out expansion plans for the coming years. For example, Sharp plans to invest $2.6B in Italy in a joint venture to tap growing demand of solar panels. Suntech power is also entering the U.S. solar market through acquiring EI Solutions, and will triple US sales by 2009. What makes STP extremely attractive is that China has set ambitious, long-term national goals that have helped to create a backdrop for a growing renewable energy industry such as a national renewable energy standard of 15% by 2020 and a commitment to invest US$180 billion in renewable energy by 2020.
With STP at such a low price, two companies might like to become bidders for Suntech. The first one is Sharp. Sharp has an ambitious plan to quickly reach the European and Chinese solar markets - acquiring Suntech provides a shortcut for the company to do this.
The second company that has been named in rumors is First Solar. FSLR mainly sells panels in the U.S. and Europe and a takeover of STP will give the company direct entry into the Asian market. A call to First Solar has not been returned. It is believed that Suntech will not consider any bid below $30 per share as the industry becomes very solar friendly going into 2009.
The United Nations Climate Change Conference is being held in Poland this week. Representatives from the top four Photovoltaic (PV) makers gathered in Poznan to propose the rapid implementation and expansion of policies designed to support the growth of the solar industry and the global adoption of solar technology as a major contributor to greenhouse gas (GHG) reduction in support of global climate goals.
As the top two solar companies, Suntech Power and First Solar dominate the European and U.S. markets respectively. According to Suntech CEO Dr. Zhengrong Shi, the company is dedicated to reducing the cost of solar electricity to grid parity through increasing economies of scale, improving efficient utilization of raw materials such as silicon, and developing more advanced technology and new applications. While no solar company has achieved grid parity, Suntech is leading the way. The company is also developing a new thin film technology with 50% efficiency.
Despite all of these positive developments, STP's stock price has been down as much as 90% from its 52-week high because of hedge fund redemptions in the last few months. Investors have started to realize its true value recently but it is still very much undervalued.
Recently, many solar companies have rolled out expansion plans for the coming years. For example, Sharp plans to invest $2.6B in Italy in a joint venture to tap growing demand of solar panels. Suntech power is also entering the U.S. solar market through acquiring EI Solutions, and will triple US sales by 2009. What makes STP extremely attractive is that China has set ambitious, long-term national goals that have helped to create a backdrop for a growing renewable energy industry such as a national renewable energy standard of 15% by 2020 and a commitment to invest US$180 billion in renewable energy by 2020.
With STP at such a low price, two companies might like to become bidders for Suntech. The first one is Sharp. Sharp has an ambitious plan to quickly reach the European and Chinese solar markets - acquiring Suntech provides a shortcut for the company to do this.
The second company that has been named in rumors is First Solar. FSLR mainly sells panels in the U.S. and Europe and a takeover of STP will give the company direct entry into the Asian market. A call to First Solar has not been returned. It is believed that Suntech will not consider any bid below $30 per share as the industry becomes very solar friendly going into 2009.
Tuesday, December 9, 2008
Hongkong Electric completes 1st mainland wind farm project
Dec. 9, 2008 (China Knowledge) - Hongkong Electric Holdings Ltd (HEH)<6>, an electricity operator controlled by Hong Kong business giant Li Ka-shing, announced on Tuesday it has completed its first wind farm project on the mainland and expected to commence commercial operation early next year, sources reported.
According to the report, the 48-megawatt Yunnan project with a total investment of RMB 500 million is a joint venture utility, in which Hongkong Electric owns a 45% stake while mainland power producer Huaneng New Energy Industrial holds the rest.
The wind farm, along with another one in Hebei province, was bought by the Hong Kong electricity operator this year, marking its first investments on the mainland to capitalize on the country's rising demand for renewable energy, China Knowledge reported earlier.
Hongkong Electric said the projects were awarded with government incentives, including priority in the purchase of power generated from the windmills, tax exemptions on construction work and value-added tax rebates on machinery, adding both projects were qualified with global environmental standard for cutting emission of greenhouse gas.
The investment would enable Hongkong Electric to take a bite of the nascent but massive renewable energy market, amid a looming government-ordered cut in the rate of return from supplying electricity to its local market, according to analysts.
According to the report, the 48-megawatt Yunnan project with a total investment of RMB 500 million is a joint venture utility, in which Hongkong Electric owns a 45% stake while mainland power producer Huaneng New Energy Industrial holds the rest.
The wind farm, along with another one in Hebei province, was bought by the Hong Kong electricity operator this year, marking its first investments on the mainland to capitalize on the country's rising demand for renewable energy, China Knowledge reported earlier.
Hongkong Electric said the projects were awarded with government incentives, including priority in the purchase of power generated from the windmills, tax exemptions on construction work and value-added tax rebates on machinery, adding both projects were qualified with global environmental standard for cutting emission of greenhouse gas.
The investment would enable Hongkong Electric to take a bite of the nascent but massive renewable energy market, amid a looming government-ordered cut in the rate of return from supplying electricity to its local market, according to analysts.
Chinese PV pioneer helps build Israel's biggest solar power station
www.chinaview.cn 2008-12-09 06:27:49
KATSRIN, Israel, Dec. 8 (Xinhua) -- Israel's biggest solar power station was inaugurated on Monday in this Israeli northern town, setting up a landmark in the Chinese-Israeli cooperation in the field of clean energy.
The 50 KW rooftop project, estimated to generate 85,000 KWH a year, was co-built by China's Suntech Power Holdings Co., Ltd., a world-leading solar energy company, mainly specialized in photovoltaic (PV) power generation technologies, and Solarit Doral, a major local player in Israel's renewable energy market.
Dubbed the biggest and most efficient of its kind so far in Israel, the solar power station is integrated into Israel's national grid, as the Jewish state has been carrying out incentive measures to prod the development of alternative energy, including purchasing cleanly generated electricity at a relatively higher price.
Highlighting the urgent need to find alternative resources to power the world and protect the environment, Zhao Jun, Chinese ambassador to Israel, said at the ceremony that China has been investing heavily in alternative energy, and shares great cooperation potentials with Israel in relevant respects.
"It is very appropriate and natural for Chinese and Israeli companies to work together on this," he told Israeli National Infrastructures Minister Binyamin Ben-Eliezer and local officials.
Ben-Eliezer, whose ministry has unveiled an ambitious plan to produce 20 percent of its electricity through renewable resources by 2020, stressed that Israeli government pays high attention to the development of clean energy, and noted that Israel and China should deepen cooperation in commonly-interested fields, particularly water resources and renewable energy.
Meanwhile, representatives from Suntech, a listed company in New York Stock Exchange, said that the company is planning with its Israeli counterpart to construct a larger solar power plant in southern Israel.
Editor: Sun
KATSRIN, Israel, Dec. 8 (Xinhua) -- Israel's biggest solar power station was inaugurated on Monday in this Israeli northern town, setting up a landmark in the Chinese-Israeli cooperation in the field of clean energy.
The 50 KW rooftop project, estimated to generate 85,000 KWH a year, was co-built by China's Suntech Power Holdings Co., Ltd., a world-leading solar energy company, mainly specialized in photovoltaic (PV) power generation technologies, and Solarit Doral, a major local player in Israel's renewable energy market.
Dubbed the biggest and most efficient of its kind so far in Israel, the solar power station is integrated into Israel's national grid, as the Jewish state has been carrying out incentive measures to prod the development of alternative energy, including purchasing cleanly generated electricity at a relatively higher price.
Highlighting the urgent need to find alternative resources to power the world and protect the environment, Zhao Jun, Chinese ambassador to Israel, said at the ceremony that China has been investing heavily in alternative energy, and shares great cooperation potentials with Israel in relevant respects.
"It is very appropriate and natural for Chinese and Israeli companies to work together on this," he told Israeli National Infrastructures Minister Binyamin Ben-Eliezer and local officials.
Ben-Eliezer, whose ministry has unveiled an ambitious plan to produce 20 percent of its electricity through renewable resources by 2020, stressed that Israeli government pays high attention to the development of clean energy, and noted that Israel and China should deepen cooperation in commonly-interested fields, particularly water resources and renewable energy.
Meanwhile, representatives from Suntech, a listed company in New York Stock Exchange, said that the company is planning with its Israeli counterpart to construct a larger solar power plant in southern Israel.
Editor: Sun
ReneSola Announces Divestment of Henan Polysilicon Joint Venture
JIASHAN, China, Dec 08, 2008 /PRNewswire-Asia-FirstCall via COMTEX/ -- ReneSola Ltd ("ReneSola" or the "Company") , a leading Chinese manufacturer of solar wafers, today announced that it has sold its 49% equity interest (the "Divestment") in Linzhou Zhongsheng Semiconductor Silicon Material Co., Ltd. (the "Joint Venture").
In August 2007, ReneSola and Linzhou Zhongsheng Steel Co., Ltd. ("Zhongsheng Steel") established the Joint Venture to engage in virgin polysilicon production in Linzhou, Henan Province, China. The Company invested approximately RMB103 million for an equity interest of 49% in the Joint Venture. In June 2008, the Company and Zhongsheng Steel amended the commercial arrangement in the joint venture contract to reduce the contracted obligation of the Company to purchase the output of the Joint Venture from 90% to a minimum of 55% at market price with a term of three years, instead of 30 years in the original agreement.
For the nine months ended September 30, 2008, the Joint Venture recorded revenues of RMB266 million and a net profit of approximately RMB131 million. Prior to the Divestment ReneSola equity accounted for its interest in the Joint Venture. In the three months ended September 30, 2008, the Company's equity interest in the earnings of the Joint Venture was US$5.2 million.
The Company has sold its 49% equity interest in the Joint Venture to Zhongsheng Steel for a total consideration of RMB200 million, represented by cash paid on completion of RMB44 million and either a credit of RMB156 million through a discount of RMB500/kg to the polysilicon spot price for future supplies or cash in the amount of RMB156 million.
"As part of our ongoing evaluation of our raw material sourcing strategy for 2009 we have determined it is in the best interests of our shareholders to divest our equity interest in the Henan polysilicon production facility," said Mr. Xianshou Li, ReneSola's chief executive officer.
Mr. Li continued, "The Linzhou facility will continue to provide us with polysilicon at a discounted price until the RMB156 million is fully credited. Our existing polysilicon purchase contracts, combined with the additional production from our Sichuan polysilicon plant and the Linzhou facility and expected tolling arrangements, should fully support our required feedstock for our 2009 wafer production output."
About ReneSola
ReneSola Ltd ("ReneSola") is a leading global manufacturer of solar wafers based in China. Capitalizing on proprietary technologies and technical know- how, ReneSola manufactures monocrystalline and multicrystalline solar wafers. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange and the AIM market of the London Stock Exchange. For more information about ReneSola, please visit http://www.renesola.com .
In August 2007, ReneSola and Linzhou Zhongsheng Steel Co., Ltd. ("Zhongsheng Steel") established the Joint Venture to engage in virgin polysilicon production in Linzhou, Henan Province, China. The Company invested approximately RMB103 million for an equity interest of 49% in the Joint Venture. In June 2008, the Company and Zhongsheng Steel amended the commercial arrangement in the joint venture contract to reduce the contracted obligation of the Company to purchase the output of the Joint Venture from 90% to a minimum of 55% at market price with a term of three years, instead of 30 years in the original agreement.
For the nine months ended September 30, 2008, the Joint Venture recorded revenues of RMB266 million and a net profit of approximately RMB131 million. Prior to the Divestment ReneSola equity accounted for its interest in the Joint Venture. In the three months ended September 30, 2008, the Company's equity interest in the earnings of the Joint Venture was US$5.2 million.
The Company has sold its 49% equity interest in the Joint Venture to Zhongsheng Steel for a total consideration of RMB200 million, represented by cash paid on completion of RMB44 million and either a credit of RMB156 million through a discount of RMB500/kg to the polysilicon spot price for future supplies or cash in the amount of RMB156 million.
"As part of our ongoing evaluation of our raw material sourcing strategy for 2009 we have determined it is in the best interests of our shareholders to divest our equity interest in the Henan polysilicon production facility," said Mr. Xianshou Li, ReneSola's chief executive officer.
Mr. Li continued, "The Linzhou facility will continue to provide us with polysilicon at a discounted price until the RMB156 million is fully credited. Our existing polysilicon purchase contracts, combined with the additional production from our Sichuan polysilicon plant and the Linzhou facility and expected tolling arrangements, should fully support our required feedstock for our 2009 wafer production output."
About ReneSola
ReneSola Ltd ("ReneSola") is a leading global manufacturer of solar wafers based in China. Capitalizing on proprietary technologies and technical know- how, ReneSola manufactures monocrystalline and multicrystalline solar wafers. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange and the AIM market of the London Stock Exchange. For more information about ReneSola, please visit http://www.renesola.com .
China's solar PV sector faces uncertainty
BEIJING, Dec 08, 2008 (Xinhua via COMTEX) -- The growth pace of China's new energy industry is seriously dented by oil price slump and demand shrinkage due to the global financial crisis, according to analysts.
Zhou Tao, analyst with Greatwall Securities, said that solar photovoltaic industry suffers adverse impact on demand shrinkage of solar cells from Western countries and losses from Euro depreciation.
Xiong Lin, analyst with China Jianyin Investment Securities, said that a number of small-sized module producers have gone bankruptcy in East China's Jiangsu Province as a result of lacking capital and order cut.
Xiong said that solar energy industry would demonstrate an obvious trend of integration and increased market concentration in addition to uncertain market situation and order amount in 2009 for SunTech Power Holdings Limited (STP.NYSE).
Xiong predicted that China's solar cell module producers would see a five-percent drop of gross profit margin, taking in consideration of order, exchange rate and other factors.
It's widely accepted that investment in new energy sector will get restrained due to oil price drop, and substitution value of new energy will get slashed resulting from coal price slides.
In the long run, new energy will continue to have bright prospectus in term of its value in environmental protection, according to Xiong.
The power generating cost of solar photovoltaic electricity will be in line with the power generating cost of traditional energy in 2030, according to a report in early 2008 by China Jianyin Investment Securities.
Xiong said that it's hard to judge when solar electricity power cost comes in line with the cost of traditional power generation in the near term, with expectation-beating technological improvement in polycrystalline silicon as well as oil price tumble.
Earlier, Chang Xiaofeng, chairman and CEO of LDK Solar Co., Ltd. (LDK.NYSE), predicted that solar power cost probably would drop to one yuan per kilowatt within two to three year thanks to raw material price decreases.
Yu Yingyi, analyst with Pacific Securities, said that governments at various levels would support the development of solar PV industry in the long term in consideration of energy security and environmental protection.
Yu is optimistic about the long-term demand of solar energy products.
Zhou Tao, analyst with Greatwall Securities, said that solar photovoltaic industry suffers adverse impact on demand shrinkage of solar cells from Western countries and losses from Euro depreciation.
Xiong Lin, analyst with China Jianyin Investment Securities, said that a number of small-sized module producers have gone bankruptcy in East China's Jiangsu Province as a result of lacking capital and order cut.
Xiong said that solar energy industry would demonstrate an obvious trend of integration and increased market concentration in addition to uncertain market situation and order amount in 2009 for SunTech Power Holdings Limited (STP.NYSE).
Xiong predicted that China's solar cell module producers would see a five-percent drop of gross profit margin, taking in consideration of order, exchange rate and other factors.
It's widely accepted that investment in new energy sector will get restrained due to oil price drop, and substitution value of new energy will get slashed resulting from coal price slides.
In the long run, new energy will continue to have bright prospectus in term of its value in environmental protection, according to Xiong.
The power generating cost of solar photovoltaic electricity will be in line with the power generating cost of traditional energy in 2030, according to a report in early 2008 by China Jianyin Investment Securities.
Xiong said that it's hard to judge when solar electricity power cost comes in line with the cost of traditional power generation in the near term, with expectation-beating technological improvement in polycrystalline silicon as well as oil price tumble.
Earlier, Chang Xiaofeng, chairman and CEO of LDK Solar Co., Ltd. (LDK.NYSE), predicted that solar power cost probably would drop to one yuan per kilowatt within two to three year thanks to raw material price decreases.
Yu Yingyi, analyst with Pacific Securities, said that governments at various levels would support the development of solar PV industry in the long term in consideration of energy security and environmental protection.
Yu is optimistic about the long-term demand of solar energy products.
China's largest grid-connected solar power photovoltaic power station starts construction
December 08, 2008
Kunming Shilin large-scale experiment demonstration power station formally started construction on December 6. With a total installed capacity of 166 megawatts, the power station will be the largest experiment demonstration grid-connected solar photovoltaic power station in China.
The power station, which required a total investment of 9.1 billion yuan, is located in the town of Shilin in Kunming Shilin Yi Autonomous County.
The project is divided into two parts: the popular science zone, and the experiment demonstration zone.
The popular science zone covers a total area of 2002.2 mu, with an installed capacity of 66 megawatts and an annual average generating capacity of 77.0389 million kilowatt hours. The experiment demonstration zone occupies a total area of 3649.35 mu, with an installed capacity of 100 megawatts and an annual average generating capacity of 118.285 million kilowatt hours.By People's Daily Online
Kunming Shilin large-scale experiment demonstration power station formally started construction on December 6. With a total installed capacity of 166 megawatts, the power station will be the largest experiment demonstration grid-connected solar photovoltaic power station in China.
The power station, which required a total investment of 9.1 billion yuan, is located in the town of Shilin in Kunming Shilin Yi Autonomous County.
The project is divided into two parts: the popular science zone, and the experiment demonstration zone.
The popular science zone covers a total area of 2002.2 mu, with an installed capacity of 66 megawatts and an annual average generating capacity of 77.0389 million kilowatt hours. The experiment demonstration zone occupies a total area of 3649.35 mu, with an installed capacity of 100 megawatts and an annual average generating capacity of 118.285 million kilowatt hours.By People's Daily Online
More than 50% of PV module makers in China stop production, claim sources
Staff reporter, Taipei; Adam Hwang, DIGITIMES [Monday 8 December 2008]
There were originally about 350 photovoltaic (PV) module makers in China, but approximately 200 of them have stopped production or shut down since two months ago, according to PV industry sources in Taiwan.
These makers have been forced to go out of business by financial troubles arising from the global financial crisis and decreased global demand for PV modules, the sources indicated.
Makers of crystalline silicon solar cells in China generally have high inventory levels that are unlikely to be cleaned in a quarter, the sources said. Some China makers of solar cells have offered spot market prices of as low as US$2.1-2.5/watt in an attempt to reduce inventories, while the spot market prices quoted by Taiwan-based competitors stand at US$2.6-2.7 currently, the sources noted.
There were originally about 350 photovoltaic (PV) module makers in China, but approximately 200 of them have stopped production or shut down since two months ago, according to PV industry sources in Taiwan.
These makers have been forced to go out of business by financial troubles arising from the global financial crisis and decreased global demand for PV modules, the sources indicated.
Makers of crystalline silicon solar cells in China generally have high inventory levels that are unlikely to be cleaned in a quarter, the sources said. Some China makers of solar cells have offered spot market prices of as low as US$2.1-2.5/watt in an attempt to reduce inventories, while the spot market prices quoted by Taiwan-based competitors stand at US$2.6-2.7 currently, the sources noted.
Friday, December 5, 2008
Yingli Green Energy Signs New Sales Contracts with IBC Solar AG for Supply of 91 MW of PV Modules
BAODING, China, Dec 05, 2008 /PRNewswire-Asia-FirstCall via COMTEX/ -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that it has entered into two sales contracts with IBC Solar AG ("IBC Solar"), one of the leading specialists in PV systems worldwide, to supply a total of 91 MW of PV modules to IBC Solar.
Under the terms of these contracts, Yingli Green Energy is expected to supply 91 MW of PV modules to IBC Solar from December 2008 to December 2009. Supplies under these contracts are agreed to be made at fixed prices for December 2008 and for the period from January through October 2009, which will be adjusted by mutual agreement if the market price falls below the fixed prices.
"The performance, reliability and quality of Yingli's PV modules, their excellent customer service and their brand recognition among our customers form the foundation of our business relationship," commented Mr. Udo Moehrstedt, president and founder of IBC Solar. "We are currently working on a range of significant projects with a broad range of customers. We believe our business cooperation with Yingli will help us expand our business in the future."
"We are very pleased to announce these significant new contracts, which we believe provide more visibility for our sales in 2009," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "The majority of our customers are companies with an established track record of successful operations, just like IBC Solar. We expect that these new contracts will further strengthen our leading position in the German market and provide a solid foundation for our continued success there in the coming year. In addition, we believe our competitive PV module pricing and reliable product quality, which are supported by our vertically integrated business model and one of the lowest non-polysilicon manufacturing cost structures in the industry, will further enhance customer loyalty and extend our market share in this competitive environment."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com .
About IBC SOLAR
Since it was established in 1982, IBC Solar has been exclusively active in the photovoltaics sector. The IBC Solar group with several subsidiaries in Europe, Asia and USA currently supplies the global market with high-performance systems of every magnitude, from single-family home roofs, to large-scale solar projects. To date more than 350 megawatts (MWp) of photovoltaic power have been delivered in more than 50,000 solar power systems around the world. For more information, please visit http://www.ibc-solar.com .
Under the terms of these contracts, Yingli Green Energy is expected to supply 91 MW of PV modules to IBC Solar from December 2008 to December 2009. Supplies under these contracts are agreed to be made at fixed prices for December 2008 and for the period from January through October 2009, which will be adjusted by mutual agreement if the market price falls below the fixed prices.
"The performance, reliability and quality of Yingli's PV modules, their excellent customer service and their brand recognition among our customers form the foundation of our business relationship," commented Mr. Udo Moehrstedt, president and founder of IBC Solar. "We are currently working on a range of significant projects with a broad range of customers. We believe our business cooperation with Yingli will help us expand our business in the future."
"We are very pleased to announce these significant new contracts, which we believe provide more visibility for our sales in 2009," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "The majority of our customers are companies with an established track record of successful operations, just like IBC Solar. We expect that these new contracts will further strengthen our leading position in the German market and provide a solid foundation for our continued success there in the coming year. In addition, we believe our competitive PV module pricing and reliable product quality, which are supported by our vertically integrated business model and one of the lowest non-polysilicon manufacturing cost structures in the industry, will further enhance customer loyalty and extend our market share in this competitive environment."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit http://www.yinglisolar.com .
About IBC SOLAR
Since it was established in 1982, IBC Solar has been exclusively active in the photovoltaics sector. The IBC Solar group with several subsidiaries in Europe, Asia and USA currently supplies the global market with high-performance systems of every magnitude, from single-family home roofs, to large-scale solar projects. To date more than 350 megawatts (MWp) of photovoltaic power have been delivered in more than 50,000 solar power systems around the world. For more information, please visit http://www.ibc-solar.com .
Yingli Green Energy Reaffirms Business Outlook for Fiscal Year 2009
Copyright 2008 PR Newswire. All Rights Reserved2008-12-05
BAODING, China, Dec. 5 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or "the Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today reaffirmed its business outlook for fiscal year 2009, as previously announced on the Company's earnings conference call on November 26, 2008, in response to certain recent news articles erroneously stating that the Company expected its total PV module shipments to reach 400 megawatts in 2009.
Based on current market and operating conditions, estimated production capacity and forecasted customer demand, as well as current exchange rates for the U.S. dollar, Euro and Renminbi, the Company estimates that its total PV module shipments in 2009 will be approximately 550 MW to 600 MW, subject to, among other factors, the successful installation and ramp-up of the Company's additional 200 MW planned expansion in the third quarter of 2009.
In addition, after taking into consideration the several mid- to long-term virgin polysilicon supply agreements with leading global polysilicon suppliers which will start delivery at the beginning of 2009, estimated polysilicon prices in 2009, the negative impact of expected decreases in the average sales price of PV modules and further depreciation of the Euro versus U.S. dollar, the Company estimates that its gross margin in 2009 will be at least 24%.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit .
BAODING, China, Dec. 5 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or "the Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today reaffirmed its business outlook for fiscal year 2009, as previously announced on the Company's earnings conference call on November 26, 2008, in response to certain recent news articles erroneously stating that the Company expected its total PV module shipments to reach 400 megawatts in 2009.
Based on current market and operating conditions, estimated production capacity and forecasted customer demand, as well as current exchange rates for the U.S. dollar, Euro and Renminbi, the Company estimates that its total PV module shipments in 2009 will be approximately 550 MW to 600 MW, subject to, among other factors, the successful installation and ramp-up of the Company's additional 200 MW planned expansion in the third quarter of 2009.
In addition, after taking into consideration the several mid- to long-term virgin polysilicon supply agreements with leading global polysilicon suppliers which will start delivery at the beginning of 2009, estimated polysilicon prices in 2009, the negative impact of expected decreases in the average sales price of PV modules and further depreciation of the Euro versus U.S. dollar, the Company estimates that its gross margin in 2009 will be at least 24%.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. With 400 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. For more information, please visit .
Thursday, December 4, 2008
Suntech and a+f Complete Two Solar Power Plants in Spain
SAN FRANCISCO and WUXI, China, Dec. 4 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd., the world's leading manufacturer of photovoltaic (PV) modules, today announced that it recently completed two solar power plants in Spain in collaboration with a+f GmbH, a subsidiary of the GILDEMEISTER group, whose high performance SunCarrier single axis tracker is a market leader.
Suntech supplied approximately 50% of all modules utilized in an 8.5MWp solar plant in Alange and a 7.4MWp solar plant in Alconera. The modules were installed on over 450 a+f SunCarrier trackers, which increase the power efficiency of the solar systems by up to 32% above that of fixed mounted solar systems. In total the two solar plants will produce enough energy to power around 9,300 households and save carbon dioxide emissions of approximately 19,000 tons per year.
a+f's Managing Director, Dr. Rico Wojanowski said, "Our advanced SunCarrier tracking technology is perfectly matched with Suntech's internationally acclaimed high output solar modules. The combination of these two products enabled us to efficiently use the land available and develop a high power output solar solution that can satisfy the energy needs of thousands of households."
Jerry Stokes, President of Suntech Europe, said, "These solar projects illustrate the potential for inter-value chain collaboration to provide highly efficient and completely sustainable energy solutions. Suntech's dedication to producing premium quality, high power output solar products is a key factor leading to our strong brand recognition in Europe."
Suntech has built strong partnerships with many leading solar project developers and distributors in Spain, Italy and Greece through the consistent supply of extremely reliable, high conversion efficiency solar modules. Suntech expects to ship over 230MW of solar modules to Southern Europe in 2008.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is a world-leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high-quality, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
About a+f
Wuerzburg, Germany based a+f GmbH has been working successfully over 15 years as a manufacturer of industrial plant equipment. As a subsidiary of the GILDEMEISTER group, a+f has access to the know-how and skills of this world- market leader in metal-cutting machine tools. In particular, the world-wide service network guarantees rapid reaction times and therefore constant availability for your installation.
Suntech supplied approximately 50% of all modules utilized in an 8.5MWp solar plant in Alange and a 7.4MWp solar plant in Alconera. The modules were installed on over 450 a+f SunCarrier trackers, which increase the power efficiency of the solar systems by up to 32% above that of fixed mounted solar systems. In total the two solar plants will produce enough energy to power around 9,300 households and save carbon dioxide emissions of approximately 19,000 tons per year.
a+f's Managing Director, Dr. Rico Wojanowski said, "Our advanced SunCarrier tracking technology is perfectly matched with Suntech's internationally acclaimed high output solar modules. The combination of these two products enabled us to efficiently use the land available and develop a high power output solar solution that can satisfy the energy needs of thousands of households."
Jerry Stokes, President of Suntech Europe, said, "These solar projects illustrate the potential for inter-value chain collaboration to provide highly efficient and completely sustainable energy solutions. Suntech's dedication to producing premium quality, high power output solar products is a key factor leading to our strong brand recognition in Europe."
Suntech has built strong partnerships with many leading solar project developers and distributors in Spain, Italy and Greece through the consistent supply of extremely reliable, high conversion efficiency solar modules. Suntech expects to ship over 230MW of solar modules to Southern Europe in 2008.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is a world-leading solar energy company as measured by both production output and capacity of solar cells and modules. Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. Suntech designs, develops, manufactures, and markets a variety of high-quality, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech offers one of the broadest ranges of BIPV products under the MSK Solar Design Line(TM). Suntech has sales offices worldwide and is a market share leader in key global solar markets. For more information, please visit http://www.suntech-power.com .
About a+f
Wuerzburg, Germany based a+f GmbH has been working successfully over 15 years as a manufacturer of industrial plant equipment. As a subsidiary of the GILDEMEISTER group, a+f has access to the know-how and skills of this world- market leader in metal-cutting machine tools. In particular, the world-wide service network guarantees rapid reaction times and therefore constant availability for your installation.
China solar wafer supplier LDK urged to cut prices
Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Thursday 4 December 2008]
Gintech Energy, a Taiwan-based maker of crystalline silicon solar cells, has asked LDK Solar, a China-based producer of solar-grade crystalline silicon wafers, to lower its product prices to facilitate the existing cooperation between LDK and Taiwan's solar cell makers, according to industry sources.
Gintech president and COO Ellick Liao made the request to LDK president and COO Xingxue Tong at Tong's visit to Gintech on December 3, the sources indicated. As Taiwan-based makers of solar cells account for about 50% of LDK's total wafer shipments, LDK's price reduction is important to maintain the existing supply chain between LDK and its Taiwan clients, the sources quoted Liao as saying. Tong basically agreed with Liao, but did not said whether LDK would lower prices, the sources noted.
Taiwan makers of solar cells have increasingly suffered from continued drops in spot market price of photovoltaic (PV) modules since November 2008, and therefore strongly hope for reduction in procurement costs of wafers through negotiation with their contract suppliers, of which LDK is a major one, the sources pointed out.
The PV module price drops have stemmed from high inventory levels in main markets: 1.5 months in Germany and 2-3 months in Spain, the sources noted. A reasonable inventory level is two weeks, the sources explained.
To cope with the falling prices of PV modules, Taiwan solar cell makers will have to accept cash-on-delivery orders only, control inventory levels to no more than two weeks, create product differentiation, and enhance sale-related services, the sources cited Liao as suggesting.
Gintech Energy, a Taiwan-based maker of crystalline silicon solar cells, has asked LDK Solar, a China-based producer of solar-grade crystalline silicon wafers, to lower its product prices to facilitate the existing cooperation between LDK and Taiwan's solar cell makers, according to industry sources.
Gintech president and COO Ellick Liao made the request to LDK president and COO Xingxue Tong at Tong's visit to Gintech on December 3, the sources indicated. As Taiwan-based makers of solar cells account for about 50% of LDK's total wafer shipments, LDK's price reduction is important to maintain the existing supply chain between LDK and its Taiwan clients, the sources quoted Liao as saying. Tong basically agreed with Liao, but did not said whether LDK would lower prices, the sources noted.
Taiwan makers of solar cells have increasingly suffered from continued drops in spot market price of photovoltaic (PV) modules since November 2008, and therefore strongly hope for reduction in procurement costs of wafers through negotiation with their contract suppliers, of which LDK is a major one, the sources pointed out.
The PV module price drops have stemmed from high inventory levels in main markets: 1.5 months in Germany and 2-3 months in Spain, the sources noted. A reasonable inventory level is two weeks, the sources explained.
To cope with the falling prices of PV modules, Taiwan solar cell makers will have to accept cash-on-delivery orders only, control inventory levels to no more than two weeks, create product differentiation, and enhance sale-related services, the sources cited Liao as suggesting.
China Yingli sees panel shipments up 60 pct in 2009
HONG KONG, Dec 3 (Reuters) - Chinese solar cell maker Yingli Green Energy Holding Co Ltd expects its shipments of solar modules to rise 60 percent next year, with demand for solar panels likely to exceed supply despite the global economic downturn.
Yingli expects shipments of solar modules to reach 400 megawatts (MW) next year from about 250 this year, Cherradi Nabih, Yingli Green's vice president for manufacturing, said on the sidelines of the Clinton Global Initiative conference.
"In a way the crisis has helped the industry. Because of the crisis, there has been big pressure on the price of materials, including polysilicon, which is down about 50 percent this year from last year," said Nabih.
The fall in the price of polysilicon, a key material for solar cells that turn sunlight to electricity, has made Yingli's production more cost efficient, he said.
(Reporting by Leonora Walet)
Yingli expects shipments of solar modules to reach 400 megawatts (MW) next year from about 250 this year, Cherradi Nabih, Yingli Green's vice president for manufacturing, said on the sidelines of the Clinton Global Initiative conference.
"In a way the crisis has helped the industry. Because of the crisis, there has been big pressure on the price of materials, including polysilicon, which is down about 50 percent this year from last year," said Nabih.
The fall in the price of polysilicon, a key material for solar cells that turn sunlight to electricity, has made Yingli's production more cost efficient, he said.
(Reporting by Leonora Walet)
Solar-Fabrik AG signs agreement with JA Solar Holdings Co., Ltd. for the supply of 30 MWp of solar cells
Freiburg (euro adhoc) - Freiburg, 03/12/2008. Solar-Fabrik AG (ISIN: DE0006614712) has entered into an agreement with JA Solar Holdings Co., Ltd of China for the supply of 30 megawatts of solar cells. The agreement initially has a term of one year, though both firms have expressed an interest in extending it.
The agreement specifies a supply of five-inch monocrystalline wafers. However, the contractual volume is to be expanded to include the supply of six-inch monocrystalline and polycrystalline cells. "We are pleased to add JA Solar to our list of high-quality partners for the supply of raw materials", commented Christoph Paradeis, CEO at Solar-Fabrik AG. "Tests conducted in advance of the agreement confirmed the high quality of the firm's solar cells. They fulfill Solar-Fabrik's quality requirements. With JA Solar we have added yet another crucial strategic partner to our team of suppliers that will help us successfully tackle the future challenges of the solar market."
Based in China, JA Solar is a manufacturer of high-performance solar cells and is considered a reliable and quality supplier that has exhibited impressive growth rates and currently has a capacity exceeding 500 MWp.
"We are pleased to be able to work with Solar-Fabrik, a pioneer and quality leader in the international solar industry", explains Ray Wilson, Vice President Sales & Marketing of JA Solar. "These new business relations with the Solar-Fabrik Group strengthen our customer base on the global solar market."
By forming a partnership with JA Solar, Solar-Fabrik has found a partner that can not only keep up with the Group's fast growth on this highly competitive market, but also offers a lot of value for the money. The agreement will allow Solar-Fabrik to expand its market share. In fiscal 2009, Solar-Fabrik plans to ramp up sales of solar panels by at least 70%.
The agreement specifies a supply of five-inch monocrystalline wafers. However, the contractual volume is to be expanded to include the supply of six-inch monocrystalline and polycrystalline cells. "We are pleased to add JA Solar to our list of high-quality partners for the supply of raw materials", commented Christoph Paradeis, CEO at Solar-Fabrik AG. "Tests conducted in advance of the agreement confirmed the high quality of the firm's solar cells. They fulfill Solar-Fabrik's quality requirements. With JA Solar we have added yet another crucial strategic partner to our team of suppliers that will help us successfully tackle the future challenges of the solar market."
Based in China, JA Solar is a manufacturer of high-performance solar cells and is considered a reliable and quality supplier that has exhibited impressive growth rates and currently has a capacity exceeding 500 MWp.
"We are pleased to be able to work with Solar-Fabrik, a pioneer and quality leader in the international solar industry", explains Ray Wilson, Vice President Sales & Marketing of JA Solar. "These new business relations with the Solar-Fabrik Group strengthen our customer base on the global solar market."
By forming a partnership with JA Solar, Solar-Fabrik has found a partner that can not only keep up with the Group's fast growth on this highly competitive market, but also offers a lot of value for the money. The agreement will allow Solar-Fabrik to expand its market share. In fiscal 2009, Solar-Fabrik plans to ramp up sales of solar panels by at least 70%.
Wednesday, December 3, 2008
Suntech's Seven Employee Injured in Production Facilities Accident
On November 28, 2008, seven Suntech employees were injured as a result of an accident that occurred due to the malfunction of a piece of module lamination equipment at Suntech Power's PV module facilities in Wuxi, China. The seven injured employees are receiving further medical treatment and are recovering in hospital.
China's solar energy industry was suffering the cold winter, and this further lowered the temperature.
To be frank, the working condition at many Chinese PV manufacturers are not good at all, and the employees working at the production lines are poorly paid.
China's solar energy industry was suffering the cold winter, and this further lowered the temperature.
To be frank, the working condition at many Chinese PV manufacturers are not good at all, and the employees working at the production lines are poorly paid.
Air Products Signs Contract with China's Best Solar
LEHIGH VALLEY, Pa. (December 2, 2008) - Air Products (NYSE:APD) today announced it has signed a turnkey gas supply contract to provide on-site gases, liquid bulk gases, specialty gases and gas equipment to China's Best Solar Hi Tech Co., Ltd, which is building a new thin-film photovoltaic (PV) facility in the Wuzhong Economic Development Park in Suzhou, Jiangsu Province, China. When the facility comes on-stream at its full capacity, it will have an annual solar module manufacturing capacity of 330MW.
The contract between Air Products and Best Solar includes the long-term supply of hydrogen, nitrogen and argon, and specialty gases such as silane, nitrogen trifluoride (NF3) and dopant gases. Air Products will also install and manage the bulk gas and specialty gas supply systems.
"We are proud to have Best Solar's confidence in our supply capabilities for what will be one of the world's largest thin-film photovoltaic production facilities," said Corning Painter, vice president and general manager, Global Electronics, Air Products. "Our leadership position in the supply and delivery of the key materials for the PV market makes Air Products the safe and reliable choice for the growing PV industry."
Best Solar's thin-film PV modules, which convert sunlight directly into electricity, will be manufactured in much the same way as thin-film transistor-liquid crystal displays (TFT-LCD). As one of the largest suppliers to the TFT-LCD industry, Air Products is ideally suited to supply the new facility. This contract marks Air Products' largest investment in the burgeoning thin-film photovoltaic industry and complements its existing crystalline PV offerings.
With the demand for renewable energy and improved efficiency on the rise, Air Products is well positioned to take advantage of these developing markets with its expertise and project experience in areas including large scale hydrogen supply for cleaner transportation fuels, developmental work on the hydrogen economy, hydrogen vehicle fueling and infrastructure, leading natural gas liquefaction technology and now the growing supply of gases and services for the photovoltaic industry.
The contract between Air Products and Best Solar includes the long-term supply of hydrogen, nitrogen and argon, and specialty gases such as silane, nitrogen trifluoride (NF3) and dopant gases. Air Products will also install and manage the bulk gas and specialty gas supply systems.
"We are proud to have Best Solar's confidence in our supply capabilities for what will be one of the world's largest thin-film photovoltaic production facilities," said Corning Painter, vice president and general manager, Global Electronics, Air Products. "Our leadership position in the supply and delivery of the key materials for the PV market makes Air Products the safe and reliable choice for the growing PV industry."
Best Solar's thin-film PV modules, which convert sunlight directly into electricity, will be manufactured in much the same way as thin-film transistor-liquid crystal displays (TFT-LCD). As one of the largest suppliers to the TFT-LCD industry, Air Products is ideally suited to supply the new facility. This contract marks Air Products' largest investment in the burgeoning thin-film photovoltaic industry and complements its existing crystalline PV offerings.
With the demand for renewable energy and improved efficiency on the rise, Air Products is well positioned to take advantage of these developing markets with its expertise and project experience in areas including large scale hydrogen supply for cleaner transportation fuels, developmental work on the hydrogen economy, hydrogen vehicle fueling and infrastructure, leading natural gas liquefaction technology and now the growing supply of gases and services for the photovoltaic industry.
Solarfun Reports Third Quarter 2008 Results
SHANGHAI, China, Dec 02, 2008 (BUSINESS WIRE) -- Solarfun Power Holdings Co., Ltd. ("Solarfun" or "the Company") , a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today reported its unaudited financial results for the third quarter ended September 30, 2008.
2008 THIRD QUARTER RESULTS
-- Net revenue was RMB 1,275 million (US$187.8 million), an increase of 69.1% from the third quarter of 2007, but down 5.7% from the second quarter of 2008.
-- Results were influenced by a total non-cash provision of US$16.5 million for inventory revaluation (US$12.9 million) and expected losses on pre-payments. Provisions were necessary as a result of mark-to-market inventory valuations in a period of rapidly declining raw material costs and some low-quality materials determined to be unusable, as well as supply pre-payments that were determined to be "at risk" and likely to not be recoverable.
-- PV module shipments reached 41.8 MW, representing an increase of 53% from the third quarter of 2007, and a slight decline from 43.1 MW in the second quarter of 2008. The Company's ability to meet customer demand was curtailed by lack of polysilicon material delivery.
-- Average selling price ("ASP") continued to be robust at US$4.04, but declined, as expected, from US$4.17 in the second quarter of 2008. This was primarily due to the weakening Euro against the U.S. Dollar. Business continued to be centered in Europe, with Germany and Spain accounting for 53% and 24% of net revenue in this quarter, respectively.
-- Gross profit was RMB 46.1 million (US$6.8 million), down 61.6% from RMB17.7 million in the third quarter of 2007, and also down from US$27.3 million in the second quarter of 2008.
-- Gross margin was 3.6% and was negatively impacted by the aforementioned provisions, as well as polysilicon-related material costs that continued to remain high during the quarter. Without the provisions, gross margins from normal operations would have reached 12.4%, which would have been in-line with previously expressed expectations.
-- The operating loss was RMB 25.9 million (US$3.8 million). Before provisions, operating income was RMB 86.3 million (US$12.7 million), or 6.8% of total revenues. Selling expenses were RMB 20.2 million (US$3.0 million), which was below the second quarter of 2008 due to an adjustment in accrued commission expenses.
-- Interest expense declined nearly US$1 million from the second quarter of 2008 to RMB 21.6 million (US$3.2 million) due to a reduction in outstanding bank debts and lower interest rates from refinancing.
-- The total exchange rate gain was US$0.4 million. The Company recorded a RMB 30 million (US$4.4 million) currency loss largely as a result of the impact of the declining Euro against the U.S. dollar, but was able to more than offset this through its foreign exchange hedging program, which resulted in a RMB 32.8 million (US$4.8 million) gain.
-- The net loss was RMB 44.3 million (US$6.5 million). The loss per basic ADS was RMB 0.86 or US$0.13. Before provision adjustments, net income and earnings per basic ADS would have been US$8.3 million and US$0.16, respectively.
Harold Hoskens, CEO of Solarfun, commented, "The third quarter was quite challenging in some respects. The unexpected shortfall in polysilicon material supply was certainly disappointing. This constrained our short-term ability to grow volume and fulfill customer demand. Our financial results were also impacted by the inventory and pre-payment-related provisions. We felt it necessary in view of the rapidly declining costs for polysilicon-related raw materials to adjust our inventory valuations, as well as account for any "at risk" pre-payments. Although current global economic and financial conditions remain uncertain, and we are not immune to these factors, we are maintaining a high degree of optimism in our ability to compete and grow in what we believe is undeniably a burgeoning market in the long-term as renewable energy continues to grow in acceptance. These macro conditions have impacted, and will continue to impact, the demand and pricing for photovoltaic-based solar products. However, we believe that the rapidly declining costs for polysilicon, combined with our low-cost manufacturing base, increasingly vertically integrated production process, customer loyalty and financial stability, will allow us to weather this environment and emerge as a stronger and viable long term player.
FINANCIAL POSITION
As of September 30, 2008, the Company had cash and cash equivalents of RMB 511.4 million (US$75.3 million) and working capital of RMB 2.1 billion (US$310.2 million). Total bank borrowings were RMB 1.2 billion (US$177.3 million), which was down from the previous quarter. During the quarter, the Company raised US$71.9 million in net proceeds from the sale of 5,421,093 ADSs via a sales agency agreement with Morgan Stanley & Co.
The Company continued to focus on working capital management and achieved another quarter-to-quarter reduction in days sales outstanding and inventory turnover days from 37 days and 63 days to 28 days and 58 days, respectively.
The Company spent US$16 million in capital expenditures, US$13 million for supply prepayments, and US$26 million in acquisition costs for the remaining 48% interest in Jiangsu Yangguang Solar, a silicon ingot producer.
THIRD QUARTER 2008 AND RECENT BUSINESS HIGHLIGHTS
The Company made a number of significant achievements, including:
-- Reached an agreement with Q-Cells AG, pending confirmation of both Boards and based on a previously signed letter of intent, for a three-year manufacturing services agreement for purchase by Q-Cells of 100 MW of PV modules per annum for three years beginning in early 2009. The agreement also provides for PV module technology cooperation.
-- Completed and successfully started operations of 120 MW of additional cell and module capacity. The Company's total nameplate capacity is now 360 MW.
-- Entered into an eight-year, 1.2 gigawatt contract for virgin polysilicon with GCL Silicon Technology.
-- Made significant progress towards vertical-integration, with continued expansion and increased operating volumes at its ingot and wafer slicing operations. The Company expects to end 2008 with 100 MW of wafer capacity (ingot and wire saw), and reach 250 MW by mid-2009.
-- Signed significant binding agreements with key customers, including a 47 MW contract to supply PV modules to Schuco International KG with installations targeted for the Middle East and southeast Europe, and a 30 MW contract to supply PV modules to Martifer Solar Sistemas Solares, a Portugal-based leading solar project developer, installer and producer in Europe.
BUSINESS OUTLOOK
The Company recognizes that the current operating environment is evolving rapidly and is less predictable than in previous periods. In light of these uncertainties and based on current operating trends and market conditions, the Company provides the following outlook:
For the fourth quarter of 2008, management expects:
-- Total 2008 shipments to be at or slightly below the low end of its previously stated guidance of 175 to 190 MW. ASPs in constant Euro terms will decline from the third quarter of 2008 by less than 5%.
-- Gross margin to improve from the third quarter of 2008, reflecting the positive impact of vertical integration, somewhat offset by the strengthening U.S. dollar.
-- Capital expenditures, supply pre-payments and further acquisition payments to be approximately US$100 million.
For the full year of 2009, management expects:
-- Shipment gains of 50%, although this will not be reflected in first quarter volumes. The Company currently has signed binding contracts with key customers totaling 150 MW. These contracts all include a commitment from the customer to provide cash or other monetary guarantees to Solarfun before the end of 2008.
-- ASP to decline 5 to 10% in constant Euro terms from the fourth quarter of 2008.
-- The relative rate of decline in ASPs to be more than offset by lower polysilicon pricing. With an increasing percentage of total wafer volume coming from the Company's in-house facilities, management believes that gross margins could reach 10 to 15%.
-- Raw material availability to be more than sufficient to meet expected demand. The Company is well positioned to take advantage of rapidly declining polysilicon prices. For 60% of the Company's polysilicon and wafer requirements, price levels will be determined based on prevailing market conditions.
-- A larger part of the Company's total wafer volume to come from in-house facilities, which should create greater opportunities for cost optimization and technical innovation.
-- Capacity expansion to be placed on hold until the demand picture becomes more clear.
-- Funding is expected to be adequate to meet 2009 anticipated spending requirements through a combination of cash on hand and access to commercial bank lines of credit. Management anticipates a return to cash flow positive during the second half of 2009.
Harold Hoskens concluded by stating, "Solarfun faces all the same near-term challenges as our competitors and our ability to predict our results with certainty is also reduced. However, we are confident that our longer-term competitive position as a low-cost converter of polysilicon will be enhanced during this period of dynamic market changes. Over the past year, we deliberately avoided signing long term polysilicon supply contracts with the belief that pricing was excessive. While the strategy was painful in the short term, we believe we are much better positioned now in this rapidly evolving environment of greater raw material supply and lower prices. Our customer traction is solid and growing, our quality is respected in the marketplace and improving, and we are prepared to profitably operate within the new industry dynamic. In the end, 2009 will prove to be a critical juncture for our industry; module supply/demand will be rationalized as players retrench from aggressive expansion plans, small or less-capitalized competitors face increasing challenges, and growth in demand in newer solar markets starts to overtake the large traditional markets in Europe. Ultimately, lower module prices will drive additional demand worldwide. We are optimistic that our low cost structure, flexible raw material purchasing program and vertical integration strategy will allow us to improve profitability and meet the near-term challenges confronting us."
2008 THIRD QUARTER RESULTS
-- Net revenue was RMB 1,275 million (US$187.8 million), an increase of 69.1% from the third quarter of 2007, but down 5.7% from the second quarter of 2008.
-- Results were influenced by a total non-cash provision of US$16.5 million for inventory revaluation (US$12.9 million) and expected losses on pre-payments. Provisions were necessary as a result of mark-to-market inventory valuations in a period of rapidly declining raw material costs and some low-quality materials determined to be unusable, as well as supply pre-payments that were determined to be "at risk" and likely to not be recoverable.
-- PV module shipments reached 41.8 MW, representing an increase of 53% from the third quarter of 2007, and a slight decline from 43.1 MW in the second quarter of 2008. The Company's ability to meet customer demand was curtailed by lack of polysilicon material delivery.
-- Average selling price ("ASP") continued to be robust at US$4.04, but declined, as expected, from US$4.17 in the second quarter of 2008. This was primarily due to the weakening Euro against the U.S. Dollar. Business continued to be centered in Europe, with Germany and Spain accounting for 53% and 24% of net revenue in this quarter, respectively.
-- Gross profit was RMB 46.1 million (US$6.8 million), down 61.6% from RMB17.7 million in the third quarter of 2007, and also down from US$27.3 million in the second quarter of 2008.
-- Gross margin was 3.6% and was negatively impacted by the aforementioned provisions, as well as polysilicon-related material costs that continued to remain high during the quarter. Without the provisions, gross margins from normal operations would have reached 12.4%, which would have been in-line with previously expressed expectations.
-- The operating loss was RMB 25.9 million (US$3.8 million). Before provisions, operating income was RMB 86.3 million (US$12.7 million), or 6.8% of total revenues. Selling expenses were RMB 20.2 million (US$3.0 million), which was below the second quarter of 2008 due to an adjustment in accrued commission expenses.
-- Interest expense declined nearly US$1 million from the second quarter of 2008 to RMB 21.6 million (US$3.2 million) due to a reduction in outstanding bank debts and lower interest rates from refinancing.
-- The total exchange rate gain was US$0.4 million. The Company recorded a RMB 30 million (US$4.4 million) currency loss largely as a result of the impact of the declining Euro against the U.S. dollar, but was able to more than offset this through its foreign exchange hedging program, which resulted in a RMB 32.8 million (US$4.8 million) gain.
-- The net loss was RMB 44.3 million (US$6.5 million). The loss per basic ADS was RMB 0.86 or US$0.13. Before provision adjustments, net income and earnings per basic ADS would have been US$8.3 million and US$0.16, respectively.
Harold Hoskens, CEO of Solarfun, commented, "The third quarter was quite challenging in some respects. The unexpected shortfall in polysilicon material supply was certainly disappointing. This constrained our short-term ability to grow volume and fulfill customer demand. Our financial results were also impacted by the inventory and pre-payment-related provisions. We felt it necessary in view of the rapidly declining costs for polysilicon-related raw materials to adjust our inventory valuations, as well as account for any "at risk" pre-payments. Although current global economic and financial conditions remain uncertain, and we are not immune to these factors, we are maintaining a high degree of optimism in our ability to compete and grow in what we believe is undeniably a burgeoning market in the long-term as renewable energy continues to grow in acceptance. These macro conditions have impacted, and will continue to impact, the demand and pricing for photovoltaic-based solar products. However, we believe that the rapidly declining costs for polysilicon, combined with our low-cost manufacturing base, increasingly vertically integrated production process, customer loyalty and financial stability, will allow us to weather this environment and emerge as a stronger and viable long term player.
FINANCIAL POSITION
As of September 30, 2008, the Company had cash and cash equivalents of RMB 511.4 million (US$75.3 million) and working capital of RMB 2.1 billion (US$310.2 million). Total bank borrowings were RMB 1.2 billion (US$177.3 million), which was down from the previous quarter. During the quarter, the Company raised US$71.9 million in net proceeds from the sale of 5,421,093 ADSs via a sales agency agreement with Morgan Stanley & Co.
The Company continued to focus on working capital management and achieved another quarter-to-quarter reduction in days sales outstanding and inventory turnover days from 37 days and 63 days to 28 days and 58 days, respectively.
The Company spent US$16 million in capital expenditures, US$13 million for supply prepayments, and US$26 million in acquisition costs for the remaining 48% interest in Jiangsu Yangguang Solar, a silicon ingot producer.
THIRD QUARTER 2008 AND RECENT BUSINESS HIGHLIGHTS
The Company made a number of significant achievements, including:
-- Reached an agreement with Q-Cells AG, pending confirmation of both Boards and based on a previously signed letter of intent, for a three-year manufacturing services agreement for purchase by Q-Cells of 100 MW of PV modules per annum for three years beginning in early 2009. The agreement also provides for PV module technology cooperation.
-- Completed and successfully started operations of 120 MW of additional cell and module capacity. The Company's total nameplate capacity is now 360 MW.
-- Entered into an eight-year, 1.2 gigawatt contract for virgin polysilicon with GCL Silicon Technology.
-- Made significant progress towards vertical-integration, with continued expansion and increased operating volumes at its ingot and wafer slicing operations. The Company expects to end 2008 with 100 MW of wafer capacity (ingot and wire saw), and reach 250 MW by mid-2009.
-- Signed significant binding agreements with key customers, including a 47 MW contract to supply PV modules to Schuco International KG with installations targeted for the Middle East and southeast Europe, and a 30 MW contract to supply PV modules to Martifer Solar Sistemas Solares, a Portugal-based leading solar project developer, installer and producer in Europe.
BUSINESS OUTLOOK
The Company recognizes that the current operating environment is evolving rapidly and is less predictable than in previous periods. In light of these uncertainties and based on current operating trends and market conditions, the Company provides the following outlook:
For the fourth quarter of 2008, management expects:
-- Total 2008 shipments to be at or slightly below the low end of its previously stated guidance of 175 to 190 MW. ASPs in constant Euro terms will decline from the third quarter of 2008 by less than 5%.
-- Gross margin to improve from the third quarter of 2008, reflecting the positive impact of vertical integration, somewhat offset by the strengthening U.S. dollar.
-- Capital expenditures, supply pre-payments and further acquisition payments to be approximately US$100 million.
For the full year of 2009, management expects:
-- Shipment gains of 50%, although this will not be reflected in first quarter volumes. The Company currently has signed binding contracts with key customers totaling 150 MW. These contracts all include a commitment from the customer to provide cash or other monetary guarantees to Solarfun before the end of 2008.
-- ASP to decline 5 to 10% in constant Euro terms from the fourth quarter of 2008.
-- The relative rate of decline in ASPs to be more than offset by lower polysilicon pricing. With an increasing percentage of total wafer volume coming from the Company's in-house facilities, management believes that gross margins could reach 10 to 15%.
-- Raw material availability to be more than sufficient to meet expected demand. The Company is well positioned to take advantage of rapidly declining polysilicon prices. For 60% of the Company's polysilicon and wafer requirements, price levels will be determined based on prevailing market conditions.
-- A larger part of the Company's total wafer volume to come from in-house facilities, which should create greater opportunities for cost optimization and technical innovation.
-- Capacity expansion to be placed on hold until the demand picture becomes more clear.
-- Funding is expected to be adequate to meet 2009 anticipated spending requirements through a combination of cash on hand and access to commercial bank lines of credit. Management anticipates a return to cash flow positive during the second half of 2009.
Harold Hoskens concluded by stating, "Solarfun faces all the same near-term challenges as our competitors and our ability to predict our results with certainty is also reduced. However, we are confident that our longer-term competitive position as a low-cost converter of polysilicon will be enhanced during this period of dynamic market changes. Over the past year, we deliberately avoided signing long term polysilicon supply contracts with the belief that pricing was excessive. While the strategy was painful in the short term, we believe we are much better positioned now in this rapidly evolving environment of greater raw material supply and lower prices. Our customer traction is solid and growing, our quality is respected in the marketplace and improving, and we are prepared to profitably operate within the new industry dynamic. In the end, 2009 will prove to be a critical juncture for our industry; module supply/demand will be rationalized as players retrench from aggressive expansion plans, small or less-capitalized competitors face increasing challenges, and growth in demand in newer solar markets starts to overtake the large traditional markets in Europe. Ultimately, lower module prices will drive additional demand worldwide. We are optimistic that our low cost structure, flexible raw material purchasing program and vertical integration strategy will allow us to improve profitability and meet the near-term challenges confronting us."
CTDC, CMZD and TSG Sign Agreement to Co-develop the Xiamen Bay Solar City
HONG KONG, Dec 2, 2008 (GlobeNewswire via COMTEX) -- China Technology Development Group Corporation ("CTDC" or "the Company"), a provider of solar energy products and solutions in China focusing on a-Si thin film technology, today announced that the Company signed the Framework Agreement on Co-operation with China Merchants Zhangzhou Development Zone ("CMZD") and Terra Solar Global Inc. ("TSG"), to co-develop the Xiamen Bay Solar City ("the Solar City), about 115 acres located in CMZD, on November 21, 2008. It is aimed at jump starting the green economy in CMZD.
The Agreement was signed by Mr. Li Alan, Chairman and CEO of CTDC, Mr. Wu Bin, Executive Vice Chairman of management council of CMZD and Mr. Jack C. Chu, CEO of TSG. The Agreement clearly states the strategic targets, cooperative ways, duties and coordination mechanism of the three parties. The three parties will work closely to make the Solar City a leading thin film PV industrial park with the SnO2 TCO base plate as the pioneering sector, which is to encompass the thin film technology R&D center, thin film modules or other PV products manufacturing plants, PV applications deployed buildings as well as PV products logistics center. The Solar City will absolutely help diminish CMZD's carbon emissions and enable the Xiamen Bay to be green. Meanwhile, the leading clean and renewable energy technology is another engine to fuel its future growth and development.
Under the terms of the Agreement, the management council of CMZD will sort out the location of the Solar City and offer very favorable government policies and supporting facilities to CTDC, including land, tax, factory building, logistic service and R&D cooperation, etc. CTDC is committed to positively expanding the production capacity by adding minimum six SnO2 TCO production lines by the end of 2009. TSG also committed that they would provide cutting-edge thin film technologies and equipments to help CTDC optimize the SnO2 technology and explore more overseas market opportunities. In order to enhance the efficiency, the three parties will establish a working group to oversee and manage all day-to-day operations as to the Solar City project from signing, construction, operation to full production.
Commenting the cooperation, Li Alan, CEO of the Company, said: "We signed a MOU with TSG in October 2007 as well as a Letter of Intent with CMZD in June 2008. The signing of the Agreement marks our cooperation has entered into a new stage. We believe the strategic partnership will enable us to provide low-cost thin film PV products to the market and facilitate the widespread application of solar based technology in CMZD."
"Going solar will not only help clean up our environment, it will create job opportunities and help grow this sector of our local economy," commented by Mr. Wu Bin, Executive Vice Chairman of CMZD, "We think the Solar City project is of great importance to the development of CMZD. We will try our best to provide at large the necessary support to the project as well as help us become a national high-tech industrial park."
"We are honored to co-develop the Solar City with CTDC and CMZD," added Jack C. Chu, CEO of TSG. "With the extensive BIPV system delivery experience coupled with advanced thin-film technology over the last three decades, we are confident that our expertise will enable our strategic partners to grow in PV industry. With CTDC's extensive operation experience and NASDAQ capital platform and CMZD's strong local government support, we are all very well placed to be right partners to each other to co-develop the Solar City, which will ultimately benefit the Chinese people and Chinese economy."
About CTDC:
CTDC is a provider of solar energy products and solutions in China focusing on a-Si thin-film technology. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com), one of the biggest state-owned conglomerates in China.
For more information, please visit our website at http://www.chinactdc.com.
The Agreement was signed by Mr. Li Alan, Chairman and CEO of CTDC, Mr. Wu Bin, Executive Vice Chairman of management council of CMZD and Mr. Jack C. Chu, CEO of TSG. The Agreement clearly states the strategic targets, cooperative ways, duties and coordination mechanism of the three parties. The three parties will work closely to make the Solar City a leading thin film PV industrial park with the SnO2 TCO base plate as the pioneering sector, which is to encompass the thin film technology R&D center, thin film modules or other PV products manufacturing plants, PV applications deployed buildings as well as PV products logistics center. The Solar City will absolutely help diminish CMZD's carbon emissions and enable the Xiamen Bay to be green. Meanwhile, the leading clean and renewable energy technology is another engine to fuel its future growth and development.
Under the terms of the Agreement, the management council of CMZD will sort out the location of the Solar City and offer very favorable government policies and supporting facilities to CTDC, including land, tax, factory building, logistic service and R&D cooperation, etc. CTDC is committed to positively expanding the production capacity by adding minimum six SnO2 TCO production lines by the end of 2009. TSG also committed that they would provide cutting-edge thin film technologies and equipments to help CTDC optimize the SnO2 technology and explore more overseas market opportunities. In order to enhance the efficiency, the three parties will establish a working group to oversee and manage all day-to-day operations as to the Solar City project from signing, construction, operation to full production.
Commenting the cooperation, Li Alan, CEO of the Company, said: "We signed a MOU with TSG in October 2007 as well as a Letter of Intent with CMZD in June 2008. The signing of the Agreement marks our cooperation has entered into a new stage. We believe the strategic partnership will enable us to provide low-cost thin film PV products to the market and facilitate the widespread application of solar based technology in CMZD."
"Going solar will not only help clean up our environment, it will create job opportunities and help grow this sector of our local economy," commented by Mr. Wu Bin, Executive Vice Chairman of CMZD, "We think the Solar City project is of great importance to the development of CMZD. We will try our best to provide at large the necessary support to the project as well as help us become a national high-tech industrial park."
"We are honored to co-develop the Solar City with CTDC and CMZD," added Jack C. Chu, CEO of TSG. "With the extensive BIPV system delivery experience coupled with advanced thin-film technology over the last three decades, we are confident that our expertise will enable our strategic partners to grow in PV industry. With CTDC's extensive operation experience and NASDAQ capital platform and CMZD's strong local government support, we are all very well placed to be right partners to each other to co-develop the Solar City, which will ultimately benefit the Chinese people and Chinese economy."
About CTDC:
CTDC is a provider of solar energy products and solutions in China focusing on a-Si thin-film technology. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com), one of the biggest state-owned conglomerates in China.
For more information, please visit our website at http://www.chinactdc.com.
TGI Solar Creates Joint Venture SOLAR POWER CHINA CORPORATION LTD(HK)
NEW YORK, NY, Dec 02, 2008 (MARKET WIRE via COMTEX) -- TGI Solar Power Group Inc. (PINKSHEETS: TSPG), a turnkey supplier of vertically integrated solar systems for a variety of applications ranging from Solar Parks (solar to grid) to commercial markets, today announced it has formed a joint venture with Hong Kong-based Oriental Energy Group Ltd. (OEG) to target China's renewable energy market, under the name SOLAR POWER CHINA CORPORATION LTD.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
Econcern to lead $1 bln China wind farm investment
LONDON, Dec 2 (Reuters) - Clean energy company Econcern will partner with China National Offshore Oil Corp and Sinohydro to invest 863 million euros ($1.09 billion) to build four Chinese wind farms, the companies said on Tuesday.
Construction of the wind farms, which will generate around 720 megawatts (MW) of renewable energy, will begin in 2009, Netherlands-based Econcern said in a statement.
As atmospheric greenhouse gas levels from burning fossil fuels rise, increasing the threat of potentially devastating climate change, more companies are looking to invest in renewable sources of energy like wind and solar.
'Traditional energy suppliers focus on conventional models and solutions, but this is no longer sustainable in any sense,' Econcern Chairman Ad van Wijk said. 'Sustainable energy is the only long term viable option.'
Last month, BP Alternative Energy, a unit of oil group BP Plc, pulled out of a partnership in a 148.5 MW Chinese wind farm project, saying it had decided to suspend its wind power business in Asia.
Econcern's announcement comes on the sidelines of UN-sponsored climate talks in Poznan, Poland where governments are working towards a new treaty to fight climate change.
Construction of the wind farms, which will generate around 720 megawatts (MW) of renewable energy, will begin in 2009, Netherlands-based Econcern said in a statement.
As atmospheric greenhouse gas levels from burning fossil fuels rise, increasing the threat of potentially devastating climate change, more companies are looking to invest in renewable sources of energy like wind and solar.
'Traditional energy suppliers focus on conventional models and solutions, but this is no longer sustainable in any sense,' Econcern Chairman Ad van Wijk said. 'Sustainable energy is the only long term viable option.'
Last month, BP Alternative Energy, a unit of oil group BP Plc, pulled out of a partnership in a 148.5 MW Chinese wind farm project, saying it had decided to suspend its wind power business in Asia.
Econcern's announcement comes on the sidelines of UN-sponsored climate talks in Poznan, Poland where governments are working towards a new treaty to fight climate change.
Many China firms gearing up for poly-Si production, but few will enter into volume production 2009, say Taiwan makers
Staff reporter, Taipei; Adam Hwang, DIGITIMES [Tuesday 2 December 2008]
Due to fast growing demand for solar cells, there have been many newly established producers of polycrystalline silicon material (poly-Si) in China and the total number has reached about 50 currently, but no more than five of them will be capable of undertaking volume production in 2009, according to industry sources in Taiwan.
This is because poly-Si makers in China have been faced with a challenging situation, the sources indicated. It is increasingly difficult for them to raise funds for capacity expansion due to the global financial crisis, the sources pointed out. In addition, fast decreasing global demand for solar cells has caused continued drops in spot market pricing of poly-Si, which has led to high inventory levels, the sources noted.
China's solar energy industry has downwardly adjusted China's 2008 target output of poly-Si from 11,000 tons originally to 3,000 tons, the sources indicated.
Due to fast growing demand for solar cells, there have been many newly established producers of polycrystalline silicon material (poly-Si) in China and the total number has reached about 50 currently, but no more than five of them will be capable of undertaking volume production in 2009, according to industry sources in Taiwan.
This is because poly-Si makers in China have been faced with a challenging situation, the sources indicated. It is increasingly difficult for them to raise funds for capacity expansion due to the global financial crisis, the sources pointed out. In addition, fast decreasing global demand for solar cells has caused continued drops in spot market pricing of poly-Si, which has led to high inventory levels, the sources noted.
China's solar energy industry has downwardly adjusted China's 2008 target output of poly-Si from 11,000 tons originally to 3,000 tons, the sources indicated.
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