At 1 gigawatt, the solar power plant in northwest China would be the world's biggest, but the timeline is a bit iffy at the moment. Construction starts next year.
by: Jeff St. John December 31, 2008
Two Chinese companies have proposed a massive, 1-gigawatt solar photovoltaic power plant in China's northwest, one that would be the worlds biggest if it's completed.
The China Technology Development Group Corp. (NSDQ: CTDC) and Qinghai New Energy Co. announced this week that they had formed an agreement with local Chinese officials to start the project, according to a report from research firm JL McGregor & Company.
The project in Qinghai's Qaidam Basin will start out in 2009 with a more modest initial goal of 30 megawatts at a cost of 1 billion Yuan ($146 million), and will combine crystalline silicon and thin-film solar panels, the firm reported. The timeline and projected cost of the entire 1-gigawatt project were not disclosed.
But if built, it would be almost twice the size of the largest solar photovoltaic power project announced so far, a 550-megawatt thin-film power plant to be built in San Luis Obispo, Calif. by OptiSolar to supply power to California utility Pacific Gas & Electric Co.
Hong Kong-based China Technology Development Group entered the solar market in 2007 with a focus on manufacturing tin oxide glass plates for use as substrates for amorphous silicon thin-film solar cells. In September it announced the opening of a factory expected to build enough of the plates to supply 20 megawatts to 30 megawatts of thin-film cells by 2009.
Given China's meager installations of photovoltaic solar power plants so far, China Technology Development Group and other Chinese solar companies like Suntech Power Holdings, China Sunergy and Yingli Green Energy Holding Co. have so far focused on exporting products to the rest of the world.
A Worldwatch Institute report released in May said that solar photovoltaic power projects within China remain in their infancy compared to Japan, Germany and the United States, with most of the estimated 20 megawatts of generation capacity installed in 2007 being used for remote, off-grid applications.
Earlier this month, an experimental, 166-megawatt grid-connected solar photovoltaic power project started construction in the town of Chilin in southwestern China, People's Daily Online reported. That project is expected to cost 9.1 billion Yuan ($1.3 billion).
Showing posts with label CTDC. Show all posts
Showing posts with label CTDC. Show all posts
Sunday, January 4, 2009
Wednesday, December 3, 2008
CTDC, CMZD and TSG Sign Agreement to Co-develop the Xiamen Bay Solar City
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.
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.
Thursday, September 25, 2008
CTDC Announces Agreement to Raise $1,500,000 Through Private Placement of Common Equity
HONG KONG, Sep 24, 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 it has executed a Securities Purchase Agreement ("the agreement") to raise $1,500,000 in a private placement of common stock and warrants with several U.S. institutional accredited investors.
Under the agreement, CTDC will issue 498,338 shares of its common stock at the price of $3.01 per share with 50% warrant coverage at exercise price of $6.00 per share through a private placement. The warrants will have a five-year term following the closing of this transaction. The Company intends to use the proceeds from the financing to prepare for the manufacturing band expansion of the SnO2 solar base plates as well as for working capital and general corporate purposes. For all details of the offering, please visit Company's SEC Filings of the 6K, http://www.nasdaq.com/asp/quotes_sec.asp?selected=CTDC&symbol=CTDC, filed by 9:00 a.m. EDT on Wednesday, September 24, 2008.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The shares sold in the private placement and the shares issuable upon the exercise of the related warrants have not been and will not be registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission ("SEC") or through an applicable exemption from SEC registration requirements. The shares and warrants were offered and sold only to institutional and accredited investors.
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 about CTDC, please visit our website at http://www.chinactdc.com
Under the agreement, CTDC will issue 498,338 shares of its common stock at the price of $3.01 per share with 50% warrant coverage at exercise price of $6.00 per share through a private placement. The warrants will have a five-year term following the closing of this transaction. The Company intends to use the proceeds from the financing to prepare for the manufacturing band expansion of the SnO2 solar base plates as well as for working capital and general corporate purposes. For all details of the offering, please visit Company's SEC Filings of the 6K, http://www.nasdaq.com/asp/quotes_sec.asp?selected=CTDC&symbol=CTDC, filed by 9:00 a.m. EDT on Wednesday, September 24, 2008.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The shares sold in the private placement and the shares issuable upon the exercise of the related warrants have not been and will not be registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission ("SEC") or through an applicable exemption from SEC registration requirements. The shares and warrants were offered and sold only to institutional and accredited investors.
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 about CTDC, please visit our website at http://www.chinactdc.com
Friday, June 13, 2008
CTDC Begins Construction of the First a-Si Thin-Film Solar Energy Rooftop System in China's Fujian Province
HONG KONG, June 12 /Xinhua-PRNewswire-FirstCall/ -- China Technology Development Group Corporation (Nasdaq: CTDC; "CTDC" ; "the Company"), aprovider of clean and renewable energy products and solutions focusing on solar energy in China, today announced that construction has begun on the Company's pilot amorphous silicon (a-Si) thin-film solar energy rooftop system at their production plant in China Merchants' Zhangzhou Development Zone("CMZD") in the Fujian province of southern China.
The a-Si thin-film rooftop project was designed by Terra Solar Global Inc., CTDC's strategic partner in the U.S., and in collaboration with China Merchants Shenzhen Electric Power Company ("CMSEPC") and CMZD. The project began in May 2008, with engineering, delivery and installation expected to take under six weeks, demonstrating the technology's capacity for rapid roll-out on demand. Upon completion in June, the Company expects this phase of the system to reach a capacity of over 7,500 Kilowatt hours (KWh) per year, providing environmental friendly energy to CTDC's manufacturing facility. The reduction in the building's dependence on the electrical grid will lead to an annual reduction of more than 4.7 tons of CO2 emissions.
"We are excited to have begun the installation of our pilot a-Sithin-film solar energy rooftop system, marking another milestone in CTDC's development as a provider of clean energy in China", Alan Li, Chairman and CEO of the Company, commented. "The construction of the solar power rooftop system is in complete accord with the renewable energy policy in China and demonstrates our commitment to the entire thin-film solar value chain. Meanwhile, we continue to focus on the commercialization of our SnO2 solar base plates in the near term."
About CTDC:
CTDC is a provider of clean and renewable energy products and solutions focusing on solar energy business in China. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com ), one of the biggest state-owned conglomerates in China.
The a-Si thin-film rooftop project was designed by Terra Solar Global Inc., CTDC's strategic partner in the U.S., and in collaboration with China Merchants Shenzhen Electric Power Company ("CMSEPC") and CMZD. The project began in May 2008, with engineering, delivery and installation expected to take under six weeks, demonstrating the technology's capacity for rapid roll-out on demand. Upon completion in June, the Company expects this phase of the system to reach a capacity of over 7,500 Kilowatt hours (KWh) per year, providing environmental friendly energy to CTDC's manufacturing facility. The reduction in the building's dependence on the electrical grid will lead to an annual reduction of more than 4.7 tons of CO2 emissions.
"We are excited to have begun the installation of our pilot a-Sithin-film solar energy rooftop system, marking another milestone in CTDC's development as a provider of clean energy in China", Alan Li, Chairman and CEO of the Company, commented. "The construction of the solar power rooftop system is in complete accord with the renewable energy policy in China and demonstrates our commitment to the entire thin-film solar value chain. Meanwhile, we continue to focus on the commercialization of our SnO2 solar base plates in the near term."
About CTDC:
CTDC is a provider of clean and renewable energy products and solutions focusing on solar energy business in China. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com ), one of the biggest state-owned conglomerates in China.
Subscribe to:
Posts (Atom)
