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.


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.

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


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 .

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 .

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.