HONG KONG, Dec 2, 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 the Company signed the Framework Agreement on Co-operation with China Merchants Zhangzhou Development Zone ("CMZD") and Terra Solar Global Inc. ("TSG"), to co-develop the Xiamen Bay Solar City ("the Solar City), about 115 acres located in CMZD, on November 21, 2008. It is aimed at jump starting the green economy in CMZD.
The Agreement was signed by Mr. Li Alan, Chairman and CEO of CTDC, Mr. Wu Bin, Executive Vice Chairman of management council of CMZD and Mr. Jack C. Chu, CEO of TSG. The Agreement clearly states the strategic targets, cooperative ways, duties and coordination mechanism of the three parties. The three parties will work closely to make the Solar City a leading thin film PV industrial park with the SnO2 TCO base plate as the pioneering sector, which is to encompass the thin film technology R&D center, thin film modules or other PV products manufacturing plants, PV applications deployed buildings as well as PV products logistics center. The Solar City will absolutely help diminish CMZD's carbon emissions and enable the Xiamen Bay to be green. Meanwhile, the leading clean and renewable energy technology is another engine to fuel its future growth and development.
Under the terms of the Agreement, the management council of CMZD will sort out the location of the Solar City and offer very favorable government policies and supporting facilities to CTDC, including land, tax, factory building, logistic service and R&D cooperation, etc. CTDC is committed to positively expanding the production capacity by adding minimum six SnO2 TCO production lines by the end of 2009. TSG also committed that they would provide cutting-edge thin film technologies and equipments to help CTDC optimize the SnO2 technology and explore more overseas market opportunities. In order to enhance the efficiency, the three parties will establish a working group to oversee and manage all day-to-day operations as to the Solar City project from signing, construction, operation to full production.
Commenting the cooperation, Li Alan, CEO of the Company, said: "We signed a MOU with TSG in October 2007 as well as a Letter of Intent with CMZD in June 2008. The signing of the Agreement marks our cooperation has entered into a new stage. We believe the strategic partnership will enable us to provide low-cost thin film PV products to the market and facilitate the widespread application of solar based technology in CMZD."
"Going solar will not only help clean up our environment, it will create job opportunities and help grow this sector of our local economy," commented by Mr. Wu Bin, Executive Vice Chairman of CMZD, "We think the Solar City project is of great importance to the development of CMZD. We will try our best to provide at large the necessary support to the project as well as help us become a national high-tech industrial park."
"We are honored to co-develop the Solar City with CTDC and CMZD," added Jack C. Chu, CEO of TSG. "With the extensive BIPV system delivery experience coupled with advanced thin-film technology over the last three decades, we are confident that our expertise will enable our strategic partners to grow in PV industry. With CTDC's extensive operation experience and NASDAQ capital platform and CMZD's strong local government support, we are all very well placed to be right partners to each other to co-develop the Solar City, which will ultimately benefit the Chinese people and Chinese economy."
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, please visit our website at http://www.chinactdc.com.
Wednesday, December 3, 2008
TGI Solar Creates Joint Venture SOLAR POWER CHINA CORPORATION LTD(HK)
NEW YORK, NY, Dec 02, 2008 (MARKET WIRE via COMTEX) -- TGI Solar Power Group Inc. (PINKSHEETS: TSPG), a turnkey supplier of vertically integrated solar systems for a variety of applications ranging from Solar Parks (solar to grid) to commercial markets, today announced it has formed a joint venture with Hong Kong-based Oriental Energy Group Ltd. (OEG) to target China's renewable energy market, under the name SOLAR POWER CHINA CORPORATION LTD.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
Econcern to lead $1 bln China wind farm investment
LONDON, Dec 2 (Reuters) - Clean energy company Econcern will partner with China National Offshore Oil Corp and Sinohydro to invest 863 million euros ($1.09 billion) to build four Chinese wind farms, the companies said on Tuesday.
Construction of the wind farms, which will generate around 720 megawatts (MW) of renewable energy, will begin in 2009, Netherlands-based Econcern said in a statement.
As atmospheric greenhouse gas levels from burning fossil fuels rise, increasing the threat of potentially devastating climate change, more companies are looking to invest in renewable sources of energy like wind and solar.
'Traditional energy suppliers focus on conventional models and solutions, but this is no longer sustainable in any sense,' Econcern Chairman Ad van Wijk said. 'Sustainable energy is the only long term viable option.'
Last month, BP Alternative Energy, a unit of oil group BP Plc, pulled out of a partnership in a 148.5 MW Chinese wind farm project, saying it had decided to suspend its wind power business in Asia.
Econcern's announcement comes on the sidelines of UN-sponsored climate talks in Poznan, Poland where governments are working towards a new treaty to fight climate change.
Construction of the wind farms, which will generate around 720 megawatts (MW) of renewable energy, will begin in 2009, Netherlands-based Econcern said in a statement.
As atmospheric greenhouse gas levels from burning fossil fuels rise, increasing the threat of potentially devastating climate change, more companies are looking to invest in renewable sources of energy like wind and solar.
'Traditional energy suppliers focus on conventional models and solutions, but this is no longer sustainable in any sense,' Econcern Chairman Ad van Wijk said. 'Sustainable energy is the only long term viable option.'
Last month, BP Alternative Energy, a unit of oil group BP Plc, pulled out of a partnership in a 148.5 MW Chinese wind farm project, saying it had decided to suspend its wind power business in Asia.
Econcern's announcement comes on the sidelines of UN-sponsored climate talks in Poznan, Poland where governments are working towards a new treaty to fight climate change.
Many China firms gearing up for poly-Si production, but few will enter into volume production 2009, say Taiwan makers
Staff reporter, Taipei; Adam Hwang, DIGITIMES [Tuesday 2 December 2008]
Due to fast growing demand for solar cells, there have been many newly established producers of polycrystalline silicon material (poly-Si) in China and the total number has reached about 50 currently, but no more than five of them will be capable of undertaking volume production in 2009, according to industry sources in Taiwan.
This is because poly-Si makers in China have been faced with a challenging situation, the sources indicated. It is increasingly difficult for them to raise funds for capacity expansion due to the global financial crisis, the sources pointed out. In addition, fast decreasing global demand for solar cells has caused continued drops in spot market pricing of poly-Si, which has led to high inventory levels, the sources noted.
China's solar energy industry has downwardly adjusted China's 2008 target output of poly-Si from 11,000 tons originally to 3,000 tons, the sources indicated.
Due to fast growing demand for solar cells, there have been many newly established producers of polycrystalline silicon material (poly-Si) in China and the total number has reached about 50 currently, but no more than five of them will be capable of undertaking volume production in 2009, according to industry sources in Taiwan.
This is because poly-Si makers in China have been faced with a challenging situation, the sources indicated. It is increasingly difficult for them to raise funds for capacity expansion due to the global financial crisis, the sources pointed out. In addition, fast decreasing global demand for solar cells has caused continued drops in spot market pricing of poly-Si, which has led to high inventory levels, the sources noted.
China's solar energy industry has downwardly adjusted China's 2008 target output of poly-Si from 11,000 tons originally to 3,000 tons, the sources indicated.
Funing Tehua Polysilicon Project Began Production
2008 November 30th, Tehua New Material Company successfully released their polysilicon product, and it took Tehua only 8 months to complete the polysilicon project.
The total investment is 500 million RMB, and the polysilicon production capacity is 500 metric tons per year.
The total investment is 500 million RMB, and the polysilicon production capacity is 500 metric tons per year.
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