Friday, May 15, 2009

ReneSola gets gov't OK for rooftop solar plan

Associated Press, 05.13.09

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

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

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

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

Mon May 11, 2009

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

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

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

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

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

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

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