21 November 2008
Emcore Corp of Albuquerque, NM, USA, which manufactures components and subsystems for the broadband, fiber optic, and solar power markets, has announced its first deployment of a concentrator photovolataics (CPV) systemin China with the XinAo Group, one of China's largest energy companies.
As part of an agreement reached in April, the 50kW test and evaluation system is fully installed and operational, and is producing power in accordance with specifications. Emcore said in April that, once the expected reliability and performance metrics have been demonstrated, XinAo plans to install CPV systems to provide electric power for its coal gasification project, which is estimated to have a requirement of 60MW of power. Also, Emcore and XinAo continue to have discussions regarding the possibleconstruction of a joint-owned plant in China, to manufacture CPV systems designed and certified by Emcore for the coal gasification project as well as the Chinese market.
"We are pleased to introduce the first CPV terrestrial power system in China in partnership with the XinAo Group and look forward to pursuing other solar power opportunities in China's emerging renewable energy market," says DrJohn Iannelli, corporate chief technology officer & general manager of Emcore's Solar Power Division.
In early October, Emcore was also granted access permits for its 850kW commercial solar park installation in the Extremedora region of Spain. In addition to these two deployments, Emcore expects several other pilot sitesto be deployed by the end of the year.
Emcore's deployed CPV systems are powered by its multi-junction solar cells, operating with 500x concentration. The firm says that it is developing a new 'Generation III' system design - scheduled to be in volume production bysecond-half 2009 - with enhanced performance (including a module efficiency of about 30%) and much improved cost structure. Emcore says that it has recently responded to several RFPs from public utility companies usingGen-III products as its baseline and expects to receive positive feedback on these proposals by the end of 2008.
Saturday, November 22, 2008
Chinese producer expects solar energy market to rebound in early 2009
BEIJING, Nov 21, 2008 (Xinhua via COMTEX) -- Solar energy industry will receive moderate and no long-lasting impacts from global financial market, said Wang Runsheng, chief executive officer of China's major solar cell producer China Sunergy Co., Ltd. (CSUN.Nasdaq).
As the main driving force of solar photovoltaic (PV) industry, governmental subsidy policies haven't been removed or delayed due to the financial turmoil, said Wang, citing recent solar-favoring legislative adjustment in France.
Wang forecast that solar PV market would witness up-turn in the first or second quarter of 2009 since many solar module developers holds on to money anticipating price declines in year end 2008.
Plus, the price drop of solar module and systems will trigger additional demands because solar PV products carry high price elasticity.
The industry chain of solar PV business is capable to bear and absorb price decreases in downstream solar system products.
In 2008, the sales price of polycrystalline silicon reached as high as 450-500 U.S. dollars per kg with production cost ranging from 20-30 U.S. dollars.
As the main driving force of solar photovoltaic (PV) industry, governmental subsidy policies haven't been removed or delayed due to the financial turmoil, said Wang, citing recent solar-favoring legislative adjustment in France.
Wang forecast that solar PV market would witness up-turn in the first or second quarter of 2009 since many solar module developers holds on to money anticipating price declines in year end 2008.
Plus, the price drop of solar module and systems will trigger additional demands because solar PV products carry high price elasticity.
The industry chain of solar PV business is capable to bear and absorb price decreases in downstream solar system products.
In 2008, the sales price of polycrystalline silicon reached as high as 450-500 U.S. dollars per kg with production cost ranging from 20-30 U.S. dollars.
Canadian Solar Q3 income surges; cuts FY08 revenue outlook, expects net loss in Q4
11/21/2008
(RTTNews) - Friday, solar cell manufacturer Canadian Solar, Inc. reported an increase in third-quarter net income, driven by a surge in revenues, with growth across all geographies. However, cautious of the uncertain economic environment, the company lowered its full-year revenue outlook.
The Markham, Canada-based company posted net income of $11.07 million or $0.31 per share, compared to net income of $522 thousands or $0.02 per share in the same period of last year.
Excluding stock based compensation, adjusted net income declined to $14.60 million or $0.41 per share from $23.05 million or $0.78 per share in the year-ago period.
On average, eight analysts polled by First Call/Thomson Financial expected the company to earn $0.54 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter rose 160% to $252.4 million from $97.4 million in the previous year, and came above the analysts' consensus of $248.00 million.
In the sequentially preceding quarter, the company reported net income of $10.5 million, or $0.36 per share, on revenues of $212.6 million.
Geographically, revenues in Europe rose to $222.4 million from $95.5 million last year. Asian revenues grew to $16.5 million from $4.1 million in the previous year, while the company generated $13.5 million as revenues in America, compared to nil revenue in the preceding year.
Total operating expenses increased to $13.35 million from $7.03 million in the same quarter a year ago. Shawn Qu, the company's chairman and chief executive officer, said the results reflected the company's conservative approach to the business and its balanced financial management. He added that the successful production ramp up of the low-cost e-Modules products, helped in maintaining the gross margin in the quarter.
Further, in July the company took measures to hedge against currency risk, which are believed to offset the impact of Euro against US Dollar foreign exchange fluctuations in the fourth quarter and the first quarter of 2009.
For the first nine months, the company reported net income of $40.6 million or $1.30 per share, compared to net loss of $6.2 million or $0.23 per share in the comparable period of last year.
Year-to-date revenues rose to $636.18 million from $175.34 million in the year-ago period.
Looking ahead, for full year 2008, the company lowered its revenue guidance to $650 million - $750 million, based on the uncertainty of project and customers' financing, and softening solar demand in Europe and USA at the year-end. Earlier, the company had issued full-year revenue guidance of $850 million - $970 million. Analysts have a consensus revenue estimate of $901.87 million for the full year.
The company expects fourth-quarter shipments in a range of 20 megawatts to 25 megawatts, which would result in revenues of approximately $70 million to $85 million. Further, the company expects to report a loss in the fourth quarter, reflecting the present market environment, which might necessitate adjustments to the balance sheet.
Analysts are expecting earnings of $0.39 per share on revenues of $270.06 million for the fourth quarter.
Shares of CSIQ closed Thursday's regular trading session at $3.78. In the past 52 weeks, the stock has been trading in the range of $3.53 to $51.80.
(RTTNews) - Friday, solar cell manufacturer Canadian Solar, Inc. reported an increase in third-quarter net income, driven by a surge in revenues, with growth across all geographies. However, cautious of the uncertain economic environment, the company lowered its full-year revenue outlook.
The Markham, Canada-based company posted net income of $11.07 million or $0.31 per share, compared to net income of $522 thousands or $0.02 per share in the same period of last year.
Excluding stock based compensation, adjusted net income declined to $14.60 million or $0.41 per share from $23.05 million or $0.78 per share in the year-ago period.
On average, eight analysts polled by First Call/Thomson Financial expected the company to earn $0.54 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter rose 160% to $252.4 million from $97.4 million in the previous year, and came above the analysts' consensus of $248.00 million.
In the sequentially preceding quarter, the company reported net income of $10.5 million, or $0.36 per share, on revenues of $212.6 million.
Geographically, revenues in Europe rose to $222.4 million from $95.5 million last year. Asian revenues grew to $16.5 million from $4.1 million in the previous year, while the company generated $13.5 million as revenues in America, compared to nil revenue in the preceding year.
Total operating expenses increased to $13.35 million from $7.03 million in the same quarter a year ago. Shawn Qu, the company's chairman and chief executive officer, said the results reflected the company's conservative approach to the business and its balanced financial management. He added that the successful production ramp up of the low-cost e-Modules products, helped in maintaining the gross margin in the quarter.
Further, in July the company took measures to hedge against currency risk, which are believed to offset the impact of Euro against US Dollar foreign exchange fluctuations in the fourth quarter and the first quarter of 2009.
For the first nine months, the company reported net income of $40.6 million or $1.30 per share, compared to net loss of $6.2 million or $0.23 per share in the comparable period of last year.
Year-to-date revenues rose to $636.18 million from $175.34 million in the year-ago period.
Looking ahead, for full year 2008, the company lowered its revenue guidance to $650 million - $750 million, based on the uncertainty of project and customers' financing, and softening solar demand in Europe and USA at the year-end. Earlier, the company had issued full-year revenue guidance of $850 million - $970 million. Analysts have a consensus revenue estimate of $901.87 million for the full year.
The company expects fourth-quarter shipments in a range of 20 megawatts to 25 megawatts, which would result in revenues of approximately $70 million to $85 million. Further, the company expects to report a loss in the fourth quarter, reflecting the present market environment, which might necessitate adjustments to the balance sheet.
Analysts are expecting earnings of $0.39 per share on revenues of $270.06 million for the fourth quarter.
Shares of CSIQ closed Thursday's regular trading session at $3.78. In the past 52 weeks, the stock has been trading in the range of $3.53 to $51.80.
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