The power plant was invested by Yitai Coal Group. The system consists of 200KW CSP PV system and 5KW conventional solar PV system for comparison.
This project was led by professor, Chen Yingtian. They adopt solar concentrators to track and focus the sunlight to the solar cell to lower the power generation cost.
The total investment is 9 million RMB, and it is just the 75% of the conventional PV power generation system with the same capacity.
The power output of the solar photovoltaic panel in this project is increased to 3 to 4 times.
Thursday, September 20, 2007
China Sunergy was sued in U.S.A by stock investor.
China Sunergy, certain of its officers and directors, and the Company's underwriters are charged with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in violation of the Securities Act of 1933 by one stock investor, Thomas Brown, at New York South District court on September 7th.
Particularly, the Complaint charges that China Sunergy raised over $107.52 million through the issuance of 9.775 million shares, despite the Registration Statement's false and misleading statements that the Company: (1) was a "leading manufacturer of solar cell products, as measured by production capacity" that was experiencing remarkable revenue growth; and (2) had secured a sufficient supply of polysilicon, a raw material necessary to the continued production of its solar cell products. Yet at the time of the IPO and unbeknownst to shareholders, the Registration Statement failed to disclose that China Sunergy was already having difficulty obtaining a sufficient supply of polysilicon, which foreseeably would have a near-term adverse impact on earnings.
On July 3, 2007, only weeks after the IPO, China Sunergy issued a press release announcing preliminary results for 2Q:07 well below guidance, and claimed that it could suddenly not obtain critical raw materials necessary for production and its revenue goals. The Company's press release stated that "the relatively tight supply of polysilicon affected the quality, quantity and delivery of wafers and drove up overall wafer prices in the spot market, resulting in increased pressure on China Sunergy's margins."
The complaint further alleges that on this news, shares of China Sunergy fell nearly 25% in a single trading day, from a high of $14.90 on July 2, 2007, to a close of $11.28 the following day, on exceedingly high volume of 3.659 million shares. As the impact of China Sunergy's belated disclosures resonated in the market, shares of the Company continued to decline, to about $7.50 per share by August 23, 2007. Shares fell significantly lower days later, to below $5.00 per share -- on news that the Company's CFO was resigning – after China Sunergy revealed a loss of at least $.14 per share for 2Q:07. In all, China Sunergy shares fell from $16.70 per share from the highs following the IPO, to a low of below $5.00 per share -- all within approximately 10 weeks.
Particularly, the Complaint charges that China Sunergy raised over $107.52 million through the issuance of 9.775 million shares, despite the Registration Statement's false and misleading statements that the Company: (1) was a "leading manufacturer of solar cell products, as measured by production capacity" that was experiencing remarkable revenue growth; and (2) had secured a sufficient supply of polysilicon, a raw material necessary to the continued production of its solar cell products. Yet at the time of the IPO and unbeknownst to shareholders, the Registration Statement failed to disclose that China Sunergy was already having difficulty obtaining a sufficient supply of polysilicon, which foreseeably would have a near-term adverse impact on earnings.
On July 3, 2007, only weeks after the IPO, China Sunergy issued a press release announcing preliminary results for 2Q:07 well below guidance, and claimed that it could suddenly not obtain critical raw materials necessary for production and its revenue goals. The Company's press release stated that "the relatively tight supply of polysilicon affected the quality, quantity and delivery of wafers and drove up overall wafer prices in the spot market, resulting in increased pressure on China Sunergy's margins."
The complaint further alleges that on this news, shares of China Sunergy fell nearly 25% in a single trading day, from a high of $14.90 on July 2, 2007, to a close of $11.28 the following day, on exceedingly high volume of 3.659 million shares. As the impact of China Sunergy's belated disclosures resonated in the market, shares of the Company continued to decline, to about $7.50 per share by August 23, 2007. Shares fell significantly lower days later, to below $5.00 per share -- on news that the Company's CFO was resigning – after China Sunergy revealed a loss of at least $.14 per share for 2Q:07. In all, China Sunergy shares fell from $16.70 per share from the highs following the IPO, to a low of below $5.00 per share -- all within approximately 10 weeks.
Great Solar Photovoltaic Potential in China
According to the China Solar Photovoltaic Development Report released at World Solar Congress 2007 in Beijing, the cost of solar photovoltaic power in China will be reduced to almost the same level of the conventional power by 2030, and solar photovoltaic power will become one mainstream power.
The report says that the installed solar photovoltaic power generation capacity in China will reach 100 million KW, and the annual power generation output will reach 130 billion KW by 2030.
At present China is the third largest solar cell producing country, but 90% of the solar photovoltaic products are exported, and the domestic solar photovoltaic applications are installed in the remote or rural regions. The solar photovoltaic development is hindered by the high power generation cost.
The report says that the installed solar photovoltaic power generation capacity in China will reach 100 million KW, and the annual power generation output will reach 130 billion KW by 2030.
At present China is the third largest solar cell producing country, but 90% of the solar photovoltaic products are exported, and the domestic solar photovoltaic applications are installed in the remote or rural regions. The solar photovoltaic development is hindered by the high power generation cost.
Wednesday, September 19, 2007
Renewable energy may account for 30% of energy supply
(Xinhua)
Updated: 2007-09-19 09:53
Renewable energy could contribute to 30 percent of China's total energy supply by 2050, an energy expert estimated on Tuesday.
Chinese wind power stations may have the ability to generate 300 to 500 million kw of electricity in 2050 and another 200 million to 300 million kw will be generated by solar energy, Shi Dinghuan, president of the Chinese Renewable Energy Society, said at the Solar World Congress 2007 in Beijing.
Small hydropower stations could generate 100 million kilowatts of electric power by 2030 which would account for 10 percent of overall energy supply at that time, said Shi.
Shi said China had to pay more attention to developing renewable energy in order to ease the conflict between economic development and environmental protection.
It is the first time the International Solar Energy Society's Solar World Congress has been held in China since it was initiated more than two decades ago.
Updated: 2007-09-19 09:53
Renewable energy could contribute to 30 percent of China's total energy supply by 2050, an energy expert estimated on Tuesday.
Chinese wind power stations may have the ability to generate 300 to 500 million kw of electricity in 2050 and another 200 million to 300 million kw will be generated by solar energy, Shi Dinghuan, president of the Chinese Renewable Energy Society, said at the Solar World Congress 2007 in Beijing.
Small hydropower stations could generate 100 million kilowatts of electric power by 2030 which would account for 10 percent of overall energy supply at that time, said Shi.
Shi said China had to pay more attention to developing renewable energy in order to ease the conflict between economic development and environmental protection.
It is the first time the International Solar Energy Society's Solar World Congress has been held in China since it was initiated more than two decades ago.
First 'Solar' Primary School in E. China
China's first solar-powered primary school was formally inaugurated on Monday in the city of Qingdao, east China's Shandong Province.
Peninsula Metropolitan News reported on Tuesday that the Hushanlu primary school, integrated with solar energy heat and photovoltaic generating systems, can generate electricity to support its water supply and heating system.
With a combined generating capacity of 30 kilowatts, the photovoltaic generating system can produce150 kilowatt-hours of electricity everyday.
Meanwhile, the heat utilization system, which is able to collect sunlight in an area of 600 square meters, can convert solar energy for heating and boiling water for 30 classrooms, 860 students and teachers.
The system, which costs about 3 million yuan, also less than one ninth of the total investment in building the primary school, can work even on a cloudy or rainy day because its stored electricity can support the normal need of the school for five days. There are also more than 100 solar-powered lights on campus.
Staff members of the school were quoted by the newspaper as saying that by using solar energy, the school will be able to save about 65 million kilowatt-hours of electricity and over 261tons of coal, reducing at the same time some 695 tons of carbon dioxide, 4.6 tons of sulfur dioxide, and 4.9 tons of industrial waste emissions, as well as decreasing atmospheric pollutants by 4 tons every year.
The authority of the school believes that their experiment will better help their students learn how important renewable energy resources will be in their daily life and studies.
Peninsula Metropolitan News reported on Tuesday that the Hushanlu primary school, integrated with solar energy heat and photovoltaic generating systems, can generate electricity to support its water supply and heating system.
With a combined generating capacity of 30 kilowatts, the photovoltaic generating system can produce150 kilowatt-hours of electricity everyday.
Meanwhile, the heat utilization system, which is able to collect sunlight in an area of 600 square meters, can convert solar energy for heating and boiling water for 30 classrooms, 860 students and teachers.
The system, which costs about 3 million yuan, also less than one ninth of the total investment in building the primary school, can work even on a cloudy or rainy day because its stored electricity can support the normal need of the school for five days. There are also more than 100 solar-powered lights on campus.
Staff members of the school were quoted by the newspaper as saying that by using solar energy, the school will be able to save about 65 million kilowatt-hours of electricity and over 261tons of coal, reducing at the same time some 695 tons of carbon dioxide, 4.6 tons of sulfur dioxide, and 4.9 tons of industrial waste emissions, as well as decreasing atmospheric pollutants by 4 tons every year.
The authority of the school believes that their experiment will better help their students learn how important renewable energy resources will be in their daily life and studies.
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