September 24, 2008
LDK Solar this afternoon said it completed the sale of 4.8 million American depositary shares at $41.75 a piece, for total proceeds to the company of $192,384,000. The deal had been priced on Friday. LDK said it will use 60% of the proceeds to fund construction of its polysilicon plant, 30% to fund the expansion of wafer production and 10% for general corporate purposes.
Unfortunate timing for the participants in the deal: LDK today rose $1.50, or 4.3%, to $36.42, after trading sharply lower in the previous two sessions. Investors who bought in at the deal price are sitting on a loss of $5.33 a share, or nearly 13%.
Thursday, September 25, 2008
Fengfan, Amelio Solar plan a-Si project in China
BAODING, Sep 24, 2008 (SinoCast via COMTEX) -- Baoding-based Fengfan Co., Ltd. (SHSE: 600482) says today that it and US-based Amelio Solar, Inc. will form a 75-25 photovoltaic solar joint venture with registered capital of USD 10 million, for a planned amorphous thin-film silicon cell project in Baoding City, Hebei Province, North China, in line with an agreement signed on September 19.
With a total investment of USD 15 million, Phase I of the project is designed to be capable of producing 5 megawatts of cells per year and would need a year for construction. It is predicted to have annual sales revenue of CNY 100 million after operation.
Besides, the project is expect to expand the capacity to 25MW in 2010 and finally to 100MW in the future. And the US company will provide technology for the project for free.
Fengfan is engaged in the R&D, production and sales of lead-acid storage batteries. Amelio Solar produces thin-film photovoltaic modules and module manufacturing facilities.
With a total investment of USD 15 million, Phase I of the project is designed to be capable of producing 5 megawatts of cells per year and would need a year for construction. It is predicted to have annual sales revenue of CNY 100 million after operation.
Besides, the project is expect to expand the capacity to 25MW in 2010 and finally to 100MW in the future. And the US company will provide technology for the project for free.
Fengfan is engaged in the R&D, production and sales of lead-acid storage batteries. Amelio Solar produces thin-film photovoltaic modules and module manufacturing facilities.
CTDC Announces Agreement to Raise $1,500,000 Through Private Placement of Common Equity
HONG KONG, Sep 24, 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 it has executed a Securities Purchase Agreement ("the agreement") to raise $1,500,000 in a private placement of common stock and warrants with several U.S. institutional accredited investors.
Under the agreement, CTDC will issue 498,338 shares of its common stock at the price of $3.01 per share with 50% warrant coverage at exercise price of $6.00 per share through a private placement. The warrants will have a five-year term following the closing of this transaction. The Company intends to use the proceeds from the financing to prepare for the manufacturing band expansion of the SnO2 solar base plates as well as for working capital and general corporate purposes. For all details of the offering, please visit Company's SEC Filings of the 6K, http://www.nasdaq.com/asp/quotes_sec.asp?selected=CTDC&symbol=CTDC, filed by 9:00 a.m. EDT on Wednesday, September 24, 2008.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The shares sold in the private placement and the shares issuable upon the exercise of the related warrants have not been and will not be registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission ("SEC") or through an applicable exemption from SEC registration requirements. The shares and warrants were offered and sold only to institutional and accredited investors.
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 about CTDC, please visit our website at http://www.chinactdc.com
Under the agreement, CTDC will issue 498,338 shares of its common stock at the price of $3.01 per share with 50% warrant coverage at exercise price of $6.00 per share through a private placement. The warrants will have a five-year term following the closing of this transaction. The Company intends to use the proceeds from the financing to prepare for the manufacturing band expansion of the SnO2 solar base plates as well as for working capital and general corporate purposes. For all details of the offering, please visit Company's SEC Filings of the 6K, http://www.nasdaq.com/asp/quotes_sec.asp?selected=CTDC&symbol=CTDC, filed by 9:00 a.m. EDT on Wednesday, September 24, 2008.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The shares sold in the private placement and the shares issuable upon the exercise of the related warrants have not been and will not be registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission ("SEC") or through an applicable exemption from SEC registration requirements. The shares and warrants were offered and sold only to institutional and accredited investors.
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 about CTDC, please visit our website at http://www.chinactdc.com
Yingli Green Energy will Supply PV Modules to Largest University Campus Solar Energy Facility in the United States
BAODING, China, Sep 24, 2008 (BUSINESS WIRE) -- 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 a sales contract with SunDurance Energy, LLC ("SunDurance"), which develops, designs and builds large-scale solar energy facilities for private and public entities in the United States. Pursuant to this agreement, Yingli Green Energy has agreed to supply an aggregate of 1.4 MW of PV modules to SunDurance from December 2008 to January 2009, which will be used for a solar power plant under construction on the Livingston Campus of Rutgers University.The $10 million solar farm project will be financed by Rutgers University and the Clean Energy Program of the New Jersey Board of Public Utilities.
According to Rutgers University, this project will be largest campus solar energy facility in the United States, and is expected to generate approximately 10 percent of the electrical demand for the Livingston Campus while reducing the university's carbon dioxide emissions by more than 1,200 tons per year.
"We are very pleased to be working with Yingli Green Energy on the Rutgers University project," said Al Bucknam, Chief Executive Officer of SunDurance Energy. "Yingli's products meet the demanding performance requirements of this project and the module design enables a more space-efficient layout."
"We are pleased to work with SunDurance and to be a part of Rutgers University's efforts to bring environmentally sound practices to higher education," commented Mr. Robert Petrina, the Business Development Manager of Yingli Green Energy."I believe solar power will play an increasingly important role in the energy generation mix of the United States, and this project and our relationship with SunDurance highlights our commitment to the U.S. market."
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 200 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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-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, France, China and the United States. For more information, please visit www.yinglisolar.com.
According to Rutgers University, this project will be largest campus solar energy facility in the United States, and is expected to generate approximately 10 percent of the electrical demand for the Livingston Campus while reducing the university's carbon dioxide emissions by more than 1,200 tons per year.
"We are very pleased to be working with Yingli Green Energy on the Rutgers University project," said Al Bucknam, Chief Executive Officer of SunDurance Energy. "Yingli's products meet the demanding performance requirements of this project and the module design enables a more space-efficient layout."
"We are pleased to work with SunDurance and to be a part of Rutgers University's efforts to bring environmentally sound practices to higher education," commented Mr. Robert Petrina, the Business Development Manager of Yingli Green Energy."I believe solar power will play an increasingly important role in the energy generation mix of the United States, and this project and our relationship with SunDurance highlights our commitment to the U.S. market."
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 200 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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-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, France, China and the United States. For more information, please visit www.yinglisolar.com.
Trina Solar to Power North America's Largest Single Rooftop Installation
CHANGZHOU, China, Sept 24, 2008
Xinhua-PRNewswire-FirstCall via COMTEX/ -- Trina Solar Limited (NYSE: TSL; "Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that shipments began this month to provide more than 13,400 solar PV modules to power the Atlantic City Convention Center ("ACCC"). This supply comes as part of a signed agreement with general contractor American Capital Energy, who is managing project integration and installation for Pepco Energy Services and the Atlantic City Convention & Visitors Authority ("ACCVA"). The agreement provides for up to four additional megawatts ("MW") to be supplied during 2009.
Once complete, the ACCC project will be North America's largest single roof-mounted solar array, with approximately 185,000 square feet of solar panels for a system size of approximately 2.4 MW. The system is expected to generate over 2.8 million kilowatt-hours of energy per year, or enough to power 280 US homes. The system is being developed under a 20-year Power Purchase Agreement with Pepco Energy Services, a subsidiary of Pepco Holdings, Inc., and will provide the ACCC with energy savings of $4.4 million over 20 years.
"We are very pleased that Trina Solar modules were chosen for this landmark roof-mounted system," stated Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "We are delighted to work with a proven solar system developer such as American Capital Energy as we enter this key growth market to provide efficient, clean solar energy in the years ahead."
Tom Hunton, President of North Chelmsford, Massachusetts based American Capital Energy, remarked, "Trina Solar is our preferred provider on this project due to their ability to deliver a superior product on time and within budget. We look forward to working with them as a key partner on this and future projects as more large organizations recognize the quantifiable return on investment a commercial-scale solar implementation offers."
About Trina Solar Limited
Trina Solar Limited 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 .
About American Capital Energy
American Capital Energy provides full-service solar energy project integration and installation for large commercial enterprises. The company is committed to furthering the utilization of solar energy by America's most forward-thinking companies by offering customized turnkey solar systems designed for long term performance and verifiable return on investment. Interested media may contact Richard Schineller at +1(941)780-8100 or rich@prmgt.com. For more info, visit http://www.americancapitalenergy.com .
Xinhua-PRNewswire-FirstCall via COMTEX/ -- Trina Solar Limited (NYSE: TSL; "Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that shipments began this month to provide more than 13,400 solar PV modules to power the Atlantic City Convention Center ("ACCC"). This supply comes as part of a signed agreement with general contractor American Capital Energy, who is managing project integration and installation for Pepco Energy Services and the Atlantic City Convention & Visitors Authority ("ACCVA"). The agreement provides for up to four additional megawatts ("MW") to be supplied during 2009.
Once complete, the ACCC project will be North America's largest single roof-mounted solar array, with approximately 185,000 square feet of solar panels for a system size of approximately 2.4 MW. The system is expected to generate over 2.8 million kilowatt-hours of energy per year, or enough to power 280 US homes. The system is being developed under a 20-year Power Purchase Agreement with Pepco Energy Services, a subsidiary of Pepco Holdings, Inc., and will provide the ACCC with energy savings of $4.4 million over 20 years.
"We are very pleased that Trina Solar modules were chosen for this landmark roof-mounted system," stated Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "We are delighted to work with a proven solar system developer such as American Capital Energy as we enter this key growth market to provide efficient, clean solar energy in the years ahead."
Tom Hunton, President of North Chelmsford, Massachusetts based American Capital Energy, remarked, "Trina Solar is our preferred provider on this project due to their ability to deliver a superior product on time and within budget. We look forward to working with them as a key partner on this and future projects as more large organizations recognize the quantifiable return on investment a commercial-scale solar implementation offers."
About Trina Solar Limited
Trina Solar Limited 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 .
About American Capital Energy
American Capital Energy provides full-service solar energy project integration and installation for large commercial enterprises. The company is committed to furthering the utilization of solar energy by America's most forward-thinking companies by offering customized turnkey solar systems designed for long term performance and verifiable return on investment. Interested media may contact Richard Schineller at +1(941)780-8100 or rich@prmgt.com. For more info, visit http://www.americancapitalenergy.com .
Yingli Green Energy's Principal Operating Subsidiary Named "China Environmental Friendly Enterprise"
BAODING, China, Sep 24, 2008 (BUSINESS WIRE) -- 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 its principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., has been awarded the title "China Environmental Friendly Enterprise" by China's Ministry of Environmental Protection.
The award recognizes Chinese companies with outstanding achievements in discharge control, resource conservation, industrial waste recycling and disposal, environmental management system construction and environment friendly products manufacturing.
"We are honored to receive this title together with five other companies in 2008, which we believe is a recognition of our continued efforts to be a successful and socially responsible company," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "In addition to manufacturing products which provide clean energy, our efforts to develop more efficient and environmentally friendly manufacturing processes have provided us with both economic rewards and lowered environmental impact. On behalf of the Company, I wish to congratulate our technicians and other team members and thank them for their contributions to making Yingli Green Energy a socially and environmentally conscious manufacturer."
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 those that operate on a stand-alone basis. With 200 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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-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, Korea, France, China and the United States. For more information, please visit www.yinglisolar.com.
The award recognizes Chinese companies with outstanding achievements in discharge control, resource conservation, industrial waste recycling and disposal, environmental management system construction and environment friendly products manufacturing.
"We are honored to receive this title together with five other companies in 2008, which we believe is a recognition of our continued efforts to be a successful and socially responsible company," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "In addition to manufacturing products which provide clean energy, our efforts to develop more efficient and environmentally friendly manufacturing processes have provided us with both economic rewards and lowered environmental impact. On behalf of the Company, I wish to congratulate our technicians and other team members and thank them for their contributions to making Yingli Green Energy a socially and environmentally conscious manufacturer."
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 those that operate on a stand-alone basis. With 200 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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-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, Korea, France, China and the United States. For more information, please visit www.yinglisolar.com.
ANU, Chinese scientists to make cheap solar energy
Posted Wed Sep 24, 2008 1:35pm AEST Updated Wed Sep 24, 2008 3:20pm AEST
Scientists from the Australian National University are working with Chinese researchers to make solar power technology more affordable for households.
The new solar panels are being developed by the ANU's Centre for Sustainable Energy Systems in conjunction with scientists from the Tianjin University in China.
ANU project leader Professor Andrew Blakers says the new roof-mounted solar power system will be much cheaper than existing technology.
"Traditionally these kinds of systems have been built with expensive, specialist concentrator cells," he said.
"We'll be modifying and upgrading commercially available non-concentrator solar cells which should result in major savings.
"We'll also be developing more efficient techniques to reduce the influence of moving shadows which have the potential to eat into the amount of energy being generated."
The ANU's Dr Igor Skryabin says their Chinese counterparts are eager to get started.
"Their team in China is willing to extend this collaboration and it will involve the exchange of students, lectures and a broad range of educational activities," he said.
"So there are many opportunity for us and our partners."
Scientists from the Australian National University are working with Chinese researchers to make solar power technology more affordable for households.
The new solar panels are being developed by the ANU's Centre for Sustainable Energy Systems in conjunction with scientists from the Tianjin University in China.
ANU project leader Professor Andrew Blakers says the new roof-mounted solar power system will be much cheaper than existing technology.
"Traditionally these kinds of systems have been built with expensive, specialist concentrator cells," he said.
"We'll be modifying and upgrading commercially available non-concentrator solar cells which should result in major savings.
"We'll also be developing more efficient techniques to reduce the influence of moving shadows which have the potential to eat into the amount of energy being generated."
The ANU's Dr Igor Skryabin says their Chinese counterparts are eager to get started.
"Their team in China is willing to extend this collaboration and it will involve the exchange of students, lectures and a broad range of educational activities," he said.
"So there are many opportunity for us and our partners."
Jetion eyes North America
By David Blackwell
Published: September 23 2008 03:00 Last updated: September 23 2008 03:00
The addition of two production lines following flotation on Aim in the summer of last year helped Jetion, which makes solar cells in China's Jiangsu province, lift first-half turnover from $38.6m to $100.7m (£55m).
The company, which exports more than 80 per cent of its output to Europe, hopes to start selling in North America next year.
Pre-tax profits for the six months to June 30 were $12.1m, up from $2.8m.
The shares - pitched at 151p for the IPO, which raised £30m - closed up 1p at 79p. The company said it was considering further expansion .David Blackwell
Published: September 23 2008 03:00 Last updated: September 23 2008 03:00
The addition of two production lines following flotation on Aim in the summer of last year helped Jetion, which makes solar cells in China's Jiangsu province, lift first-half turnover from $38.6m to $100.7m (£55m).
The company, which exports more than 80 per cent of its output to Europe, hopes to start selling in North America next year.
Pre-tax profits for the six months to June 30 were $12.1m, up from $2.8m.
The shares - pitched at 151p for the IPO, which raised £30m - closed up 1p at 79p. The company said it was considering further expansion .David Blackwell
Subscribe to:
Posts (Atom)
