Chint Solar, a Chinese solar power producer, has raised $50 million in venture capital funding co-led by Cybernaut and Shanghai Alliance Investment Ltd. Chint Solar was formed in 2006 as a subsidiary of Chinese electrical and power conglomerate Chint Group. It reached 100 MW of production capacity in July 2008, and expects to reach 1,100 MW production capacity by 2012.
PRESS RELEASE
Chint Solar announced that it has successfully closed a US$50 million round of fundraising - in the worst global financial conditions in decades - from a syndicate of global investors.
Cybernaut and Shanghai Alliance Investment Limited were lead investors in this round. A number of notable overseas and domestic funds formed the rest of the syndicate.
Founded in 2006 as a subsidiary of the Chint Group, China's leading electrical and power conglomerate, Chint Solar reached 100 MW of production capacity in July 2008, and is on track to increase exponentially to 1,100 MW production capacity by 2012.
Chint Solar's main product line features both thin film and crystalline silicon photovoltaic cells and modules. The company has made an aggressive push to focus its business on amorphous microcrystalline (a-Si/µc-Si) tandem junction thin film, a next-generation solar technology with dramatically lower costs-per-watt than conventional crystalline silicon.
Through a-Si/µc-Si thin film, Chint Solar expects to be among the first companies in the world to reduce PV module cost to below US$1 per watt, and total PV system cost to below US$2 per watt, a critical industry benchmark known as "grid parity".
"The successful closure of this round of fundraising under unprecedented and turbulent financial conditions that witnessed the near-total shutdown of global capital markets is a testament to the superiority of Chint Solar's technology, the viability of Chint Solar's business strategy, and the strength of Chint Solar's team," said Dr. Liyou Yang, CEO of Chint Solar.
"We are very pleased to lead this effort," said Min Zhu, founder and Managing Partner of Cybernaut. "Chint Solar's technical strengths are well-known, and its partnership with Chint Group, China's leading electrical manufacturer, makes it the only photovoltaic company in the world that can achieve a complete systems-level integration. I am confident that, as a result, Chint Solar's products will be among the highest in reliability and lowest in cost in the industry, and Chint Solar will rapidly become one of the world's leading photovoltaic solutions providers."
Cybernaut is a leading global venture capital firm based in Hangzhou, China. Founded in 2005 by Mr. Min Zhu, the co-founder and former President and CTO of WebEx Communications, which was acquired by Cisco Systems in 2007 for US$3.2 billion, Cybernaut has an outstanding track record and has won numerous accolades including the Forbes 2008 China's Most Influential VC.
Shanghai Alliance Investment Limited (SAIL) is a leading domestic investment company and designated asset manager for China's State-owned Assets Supervision and Administration Commission (SASAC) in the areas of high-tech and financial services.
Showing posts with label thin film. Show all posts
Showing posts with label thin film. Show all posts
Tuesday, April 28, 2009
Sunday, April 26, 2009
China Seeing Drop in Manufacturing Cost of Crystalline Si Solar Cell Module
Apr 24, 2009 19:01
Motonobu Kawai, Nikkei Microdevices
"The spot price of silicon materials in China will drop to US$50/kg within 2009," said Dylen Liu of JL McGregor & Company, a research firm in China.
He delivered a speech on the Chinese solar cell industry at Solar Cell Market Seminar 2009 hosted by Nikkei Market Access with help from Nikkei Microdevices in Japan.
In his speech, Liu introduced recent drops in the spot price of polycrystalline silicon materials in China. The price was more than US$350/kg until October 2008 but dropped by half in November 2008, being hit by the financial crisis and other issues. And it continued to fall to less than US$80/kg in April 2009.
Liu forecast that the spot price will further decline to US$50/kg within 2009. And he calculated the manufacturing cost of a crystalline silicon solar cell module when the price of polycrystalline silicon materials is US$50/kg. The cost will be US$1.1 to 1.2/W at vertically integrated solar cell manufacturers in China, he said.
On the other hand, the manufacturing cost of a thin-film silicon solar cell module will be US$1 to 2 per watt at average Chinese solar cell manufacturers, Liu said. The manufacturing costs of the two types of solar cell modules are getting closer to each other due to the decreasing polycrystalline silicon material price.
At First Solar Inc, a US solar cell manufacturer that is a leader in cost reduction, the manufacturing cost of the CdTe type solar cell module was US$0.98/W as of the fourth quarter of 2008.
Motonobu Kawai, Nikkei Microdevices
"The spot price of silicon materials in China will drop to US$50/kg within 2009," said Dylen Liu of JL McGregor & Company, a research firm in China.
He delivered a speech on the Chinese solar cell industry at Solar Cell Market Seminar 2009 hosted by Nikkei Market Access with help from Nikkei Microdevices in Japan.
In his speech, Liu introduced recent drops in the spot price of polycrystalline silicon materials in China. The price was more than US$350/kg until October 2008 but dropped by half in November 2008, being hit by the financial crisis and other issues. And it continued to fall to less than US$80/kg in April 2009.
Liu forecast that the spot price will further decline to US$50/kg within 2009. And he calculated the manufacturing cost of a crystalline silicon solar cell module when the price of polycrystalline silicon materials is US$50/kg. The cost will be US$1.1 to 1.2/W at vertically integrated solar cell manufacturers in China, he said.
On the other hand, the manufacturing cost of a thin-film silicon solar cell module will be US$1 to 2 per watt at average Chinese solar cell manufacturers, Liu said. The manufacturing costs of the two types of solar cell modules are getting closer to each other due to the decreasing polycrystalline silicon material price.
At First Solar Inc, a US solar cell manufacturer that is a leader in cost reduction, the manufacturing cost of the CdTe type solar cell module was US$0.98/W as of the fourth quarter of 2008.
Monday, March 9, 2009
Energosolar, Parity Solar Sign For 24 MW In China
Thursday 05 March 2009
Energosolar Hungary Equipment Manufacturing Ltd. and Parity Solar Ltd. have signed a contract for a new production line of solar modules in Jiangsu province, China. The agreement calls for 24 MW of EnergoSolar's turnkey end-to-end module manufacturing factory for the production of a-Si thin-film photovoltaic modules.
Energosolar confirmed that the down payment has been received and the production of the equipment has started. Parity plans to expand the manufacturing capacity to 96 MW in 2010-2011. Energosolar will deliver all production equipment for front end and back end, from the glass preparation until the final testing of the ready-to-install thin-film modules. The first phase of installation will start in the third quarter of this year.
Energosolar Hungary Equipment Manufacturing Ltd. and Parity Solar Ltd. have signed a contract for a new production line of solar modules in Jiangsu province, China. The agreement calls for 24 MW of EnergoSolar's turnkey end-to-end module manufacturing factory for the production of a-Si thin-film photovoltaic modules.
Energosolar confirmed that the down payment has been received and the production of the equipment has started. Parity plans to expand the manufacturing capacity to 96 MW in 2010-2011. Energosolar will deliver all production equipment for front end and back end, from the glass preparation until the final testing of the ready-to-install thin-film modules. The first phase of installation will start in the third quarter of this year.
Friday, February 6, 2009
Yingli Green Energy Appoints New Chief Technology Officer
BAODING, China, Feb. 3 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) (''Yingli Green Energy'' or the ''Company''), one of the world's leading vertically integrated photovoltaic (''PV'') product manufacturers, today announced the appointment of Dr. Dengyuan Song to the position of Chief Technology Officer. Dr. Song will oversee Yingli Green Energy's research and development initiatives, particularly the development of state-of-the-art and cost-competitive PV products as an integral part of the Company's overall business strategies. Dr. Song will replace Dr. Guoxiao Yao, who has resigned to pursue other interests.
Dr. Song has more than 27 years of experience in the research and development of solar cells, silicon materials, and semiconductor PV devices in both Australia and China, including nearly 10 years of research and development in silicon-based solar cells, polycrystalline silicon thin-film solar cells and third-generation solar cells at the ARC Photovoltaics Centre of Excellence at the University of New South Wales in Sydney, Australia. Prior to joining UNSW, Dr. Song served as a professor at Hebei University in China, where his teaching and research covered a broad spectrum of topics, including solar cells, silicon materials, photoelectric devices and automation engineering. Dr. Song has published and presented over 150 papers in scientific and technical journals and at various PV industry conferences.
''I am very pleased to welcome Dr. Song to the Yingli team,'' said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. ''We believe Dr. Song's deep industry knowledge and extensive technical expertise will contribute to our leadership in the renewable energy sector. We have always recognized the importance of improving yield rates, increasing cost savings and enhancing cell conversion efficiencies. We look forward to having Dr. Song lead our efforts in these areas while strengthening our focus on innovation and the creation of superior technology throughout the Company.''
''We greatly appreciate the contributions Dr. Yao made during his tenure at Yingli and we wish him the best in his future endeavors,'' Mr. Miao concluded.
Dr. Song has more than 27 years of experience in the research and development of solar cells, silicon materials, and semiconductor PV devices in both Australia and China, including nearly 10 years of research and development in silicon-based solar cells, polycrystalline silicon thin-film solar cells and third-generation solar cells at the ARC Photovoltaics Centre of Excellence at the University of New South Wales in Sydney, Australia. Prior to joining UNSW, Dr. Song served as a professor at Hebei University in China, where his teaching and research covered a broad spectrum of topics, including solar cells, silicon materials, photoelectric devices and automation engineering. Dr. Song has published and presented over 150 papers in scientific and technical journals and at various PV industry conferences.
''I am very pleased to welcome Dr. Song to the Yingli team,'' said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. ''We believe Dr. Song's deep industry knowledge and extensive technical expertise will contribute to our leadership in the renewable energy sector. We have always recognized the importance of improving yield rates, increasing cost savings and enhancing cell conversion efficiencies. We look forward to having Dr. Song lead our efforts in these areas while strengthening our focus on innovation and the creation of superior technology throughout the Company.''
''We greatly appreciate the contributions Dr. Yao made during his tenure at Yingli and we wish him the best in his future endeavors,'' Mr. Miao concluded.
Sunday, January 4, 2009
China Plans World's Largest Solar Power Plant
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).
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).
Thursday, December 25, 2008
Hongkong Sheng Rui invested in thin film solar panel production project in Zhenjiang, China
2008 December 24th, Hongkong Sheng Rui Solar Technology Company and Zhenjiang New Zone Ecnomic Development Company signed cooperation agreement to build thin film solar panel production project in Zhenjiang.
The first phase project will cost about USD 36 million and the thin film solar panel production capacity will reach 96MW by the end of 2010, and reach 120MW by the end of 2011.
The first phase project will cost about USD 36 million and the thin film solar panel production capacity will reach 96MW by the end of 2010, and reach 120MW by the end of 2011.
Tuesday, December 23, 2008
CCID Consulting: Review and Forecast on China's Solar Cell Industry
BEIJING, Dec.23 /PRNewswire-Asia/ -- CCID Consulting, China's leadingresearch, consulting and IT outsourcing service provider, and the firstChinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange:HK08235), recently released its article on China's solar cell industry.
Affected by global financial crisis in 2008, the global economy is going through a difficult winter. China's solar cell industry has been enjoying a period of stable and rapid growth in recent years, which is likely to be slowed under the current economic environment. However, China's solar cell industry still attracts manufacturers' and investors' attention in 2008. The output of China's solar cell industry in 2008 is expected to break through 2000MW. Compared with 2007, China's solar cell industry maintains a rapid development pace.
Figure: China's Solar Cell Output, 2005-2008
Source: CCID Consulting, Dec.2008
CCID Consulting forecasts that in 2009, with demands for renewable, clean and security energies increasing, innovations in thin film techniques and falling costs, China's solar cell industry will undergo a restructure period in its industry chain. The new application of thin film solar cell and other power supply will appear.
Governmental Support Brings Opportunities to the Solar Cell Industry
The promulgation and implementation of China's Renewable Energy Law will allow the size of China's photovoltaic industry to expand in the next two years; China's solar cell industry will become gradually mature. Among the 4 trillion Yuan the nation promised to invest to boost economic growth, energy-saving, environmental protection and new energy industries will be playing important roles, that these investment will drive the rapid development of the solar cell industry.
Thin Film Technology Under Spotlight
Among amorphous silicon photovoltaic cell technologies, thin film solar cell technology is considered to be most suitable for large scale industrialization. In next two years, thin film technical progress and conversion rate's improvement will gradually highlight thin film solar cell's cost advantage. Restricted by silicon materials, major manufacturers have transferred to invest in thin film. In 2009, this trend will be more obvious. With major manufacturers' thin film technical successive investment and production, despite that thin film technology cannot completely replace crystalline silicon technology in the short term, based on its cost advantage, its market share will increase rapidly.
Industry Chain Faces Local Adjustment
Solar power generation (photovoltaic generation) industry chain includes upstream polysilicon production, midstream silicon cutting and solar cell production and downstream solar cell components production. More and more enterprises will focus on the midstream and downstream. Upstream manufacturers and VC will enlarge their investment in silicon cutting and solar cell production. Industrial integration trend will strengthen.
Demands in China's Domestic Market to Surge Next Year
In the short term, China's solar cell industry will still need to rely heavily on silicon raw materials and terminal market. More than 90% of polysilicon, main raw material of solar battery depends on import and more than 90% terminal products rely on export. Demands on domestic solar battery market are to be lifted.
Solar battery products will be more popular, getting along with environment protection and energy saving policies. Mobile solar battery will appear in the market due to energy saving, 3G, uniform mobile phone charging interface, and other policies.
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as CCID Consulting), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: 8235.HK), is directly affiliated with China Center for Information Industry Development (hereinafter known as CCID Group). Headquartered in Beijing, CCID Consulting has so far set up branch offices in Shanghai, Guangzhou, Shenzhen, Wuhan and Chengdu, with over 300 professional consultants after many years of development. The company's business scope has covered over 200 large and medium-sized cities in China.
Based on major areas of competitiveness: industrial resources, information technology and data channels, CCID Consulting provides customers with public policy establishment, industry competitiveness upgrading, development strategy and planning, marketing strategy and research, HR management, IT programming and management. CCID Consulting's customers range from industrial users in electronics, telecommunications, energy, finance, automobile, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to becoming the No. 1 advisor for enterprise management, the No.1 consultancy for government decisions and the No. 1 brand for informatization consulting.
Friday, December 12, 2008
Astronergy Aims at Thin Film PV Market
Yang Liyou, CEO of Astronergy, a Chinese photovoltaics startup, discussed his company and China's PV scene with Hedy Qian, managing editor of Semiconductor International China.
Crystalline silicon-based PV technology is relatively mature, and much of the future growth will come from improving thin-film PV efficiencies, said Yang, who previously worked at BP Solar.
Hedy Qian, Managing Editor, SI China -- Semiconductor International, 12/11/2008 10:25:00 AM
Starting from crystalline silicon photovoltaics products with plans for the high-end thin-film solar cell market, Astronergy Inc. (Hangzhou, Zhejiang) launched its line for making amorphous/microcrystalline silicon (a-Si/µc-Si) tandem PV modules in November this year.
Yang Liyou, CEO of AstronergyAccording to the company, the initial average conversion efficiency will reach 9%, and the goal is to achieve a 10% average conversion efficiency in the near future. "Whether in terms of technology or in terms of scale, Astronergy is leading China's market for high-end thin-film PV modules," said Yang Liyou, who is both the CEO and CTO of Astronergy. Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.
SI China: Can you talk about the current status and future prospects of the industry from two perspectives - thin film and crystalline solar cell?
Yang: Market demand is closely related to the quality and price of PV products. Price can constrain the demand to some extent. With the continuous development of technologies — in terms of the commercialization process of crystalline silicon technology, conversion efficiency, and production and manufacturing levels - China's PV market is closely following the beat set by the global PV market. But the crystalline silicon technology is relatively mature, and at the current technological level, future growth will slow down.
The thin-film cell belongs to another product category, and the materials used are completely different from those used for crystalline silicon products. When the market is in urgent need of a new generation of products with a better performance-price ratio and a lower cost to meet the demand for PV products, it's obvious that the future of the thin-film cell is very promising.
In the marketplace, the gross profit margin is close to 50% for thin-film cells, whereas it's only about 15% for crystalline silicon cells. With the increased production of polycrystalline silicon, the cost of crystalline silicon cells also will be going down. However, the final cost of the thin-film cell will still be much lower than that of crystalline silicon cells.
SI China: For Astronergy, which specializes in thin-film cells, how is the thin-film cell business doing? And what kind of role will crystalline silicon cells play in the future?
Yang: Crystalline silicon products are currently the mainstream products in the marketplace. They can be launched quickly and be easily accepted by the market. The strategy of Astronergy is to start from crystalline silicon, and then to move into the PV market quickly, to create its own customer groups. This will be very helpful for our future development. The thin-film cell business is still in the preparation stage, but the technology is essentially already in place - the a-Si/µc-Si tandem technology will be used. Globally Astronergy is among the earliest manufacturers to enter the high-end multinode thin-film cell field. Most domestic companies in the thin-film cell field now choose the single-junction amorphous silicon technology, which is relatively simple, to start from. The a-Si/µc-Si tandem technology is much more difficult, but the products will have better functions, and their average conversion efficiency will also be higher. In the initial stage, after the thin-film products become stable, the average conversion efficiency will be around 9%; and in a very short time, a 10% average conversion efficiency can be expected through technological improvement.
Currently we are focusing on transferring foreign thin-film experiences and technologies into China. We are very confident that we can bring the products out of the laboratories by building a mature commercialized production line with a high conversion rate.
SI China: Can you please talk about the impact of the global financial crisis on China’s PV industry?
Yang: I think that the impact on China is relatively small. Before the financial crisis, I had said that China needs to jump out of the low-level processing industry and actively pursue structural transformation. In the future, new energy will become a significant industry in the world and PV is a very good cut-in point, because this industry is especially suitable for China, and China does not have a big technological gap with the world in this field.
SI China: Can you talk about the roadmap for Astronergy in the next two or three years?
Astronergy will emphasize thin-film PV technology.Yang: At the end of November, our first intermediary experimental line was installed and underwent a test run, and we will have our own products early next year. At the beginning the output will not be very high. First of all, we will reach our preset goal for average conversion efficiency. The mass production line is expected to be installed and test run in the first quarter of next year, and will go into mass production in the middle of next year. This is our first goal. After this goal is reached, Astronergy will increase the production scale as soon as possible, and the production capacity will reach 60 MW in 2009 and180 MW in 2010, and will become higher and higher after 2011. Of course, the growth rate may be adjusted based on some unexpected factors. If the market needs a higher production capacity, we can grow faster. In the next 3-4 years, the production capacity can be expected to reach 300-400 MW.
I believe that by 2011 the thin-film cell from Astronergy will be able to take a significant share — 20% or even higher — in China’s market for high-end thin-film cells. Within a period of time, the thin-film market will shift from the low-end thin films to the high-end ones, and in this process, we hope that we can capitalize on our advantage in production capacity accumulated in the initial stage to go faster in realizing the economy of scale in mass production.
Crystalline silicon-based PV technology is relatively mature, and much of the future growth will come from improving thin-film PV efficiencies, said Yang, who previously worked at BP Solar.
Hedy Qian, Managing Editor, SI China -- Semiconductor International, 12/11/2008 10:25:00 AM
Starting from crystalline silicon photovoltaics products with plans for the high-end thin-film solar cell market, Astronergy Inc. (Hangzhou, Zhejiang) launched its line for making amorphous/microcrystalline silicon (a-Si/µc-Si) tandem PV modules in November this year.
Yang Liyou, CEO of AstronergyAccording to the company, the initial average conversion efficiency will reach 9%, and the goal is to achieve a 10% average conversion efficiency in the near future. "Whether in terms of technology or in terms of scale, Astronergy is leading China's market for high-end thin-film PV modules," said Yang Liyou, who is both the CEO and CTO of Astronergy. Yang spent 20 years in thin-film R&D, including an earlier role at BP Solar. He holds 18 patents in the field.
SI China: Can you talk about the current status and future prospects of the industry from two perspectives - thin film and crystalline solar cell?
Yang: Market demand is closely related to the quality and price of PV products. Price can constrain the demand to some extent. With the continuous development of technologies — in terms of the commercialization process of crystalline silicon technology, conversion efficiency, and production and manufacturing levels - China's PV market is closely following the beat set by the global PV market. But the crystalline silicon technology is relatively mature, and at the current technological level, future growth will slow down.
The thin-film cell belongs to another product category, and the materials used are completely different from those used for crystalline silicon products. When the market is in urgent need of a new generation of products with a better performance-price ratio and a lower cost to meet the demand for PV products, it's obvious that the future of the thin-film cell is very promising.
In the marketplace, the gross profit margin is close to 50% for thin-film cells, whereas it's only about 15% for crystalline silicon cells. With the increased production of polycrystalline silicon, the cost of crystalline silicon cells also will be going down. However, the final cost of the thin-film cell will still be much lower than that of crystalline silicon cells.
SI China: For Astronergy, which specializes in thin-film cells, how is the thin-film cell business doing? And what kind of role will crystalline silicon cells play in the future?
Yang: Crystalline silicon products are currently the mainstream products in the marketplace. They can be launched quickly and be easily accepted by the market. The strategy of Astronergy is to start from crystalline silicon, and then to move into the PV market quickly, to create its own customer groups. This will be very helpful for our future development. The thin-film cell business is still in the preparation stage, but the technology is essentially already in place - the a-Si/µc-Si tandem technology will be used. Globally Astronergy is among the earliest manufacturers to enter the high-end multinode thin-film cell field. Most domestic companies in the thin-film cell field now choose the single-junction amorphous silicon technology, which is relatively simple, to start from. The a-Si/µc-Si tandem technology is much more difficult, but the products will have better functions, and their average conversion efficiency will also be higher. In the initial stage, after the thin-film products become stable, the average conversion efficiency will be around 9%; and in a very short time, a 10% average conversion efficiency can be expected through technological improvement.
Currently we are focusing on transferring foreign thin-film experiences and technologies into China. We are very confident that we can bring the products out of the laboratories by building a mature commercialized production line with a high conversion rate.
SI China: Can you please talk about the impact of the global financial crisis on China’s PV industry?
Yang: I think that the impact on China is relatively small. Before the financial crisis, I had said that China needs to jump out of the low-level processing industry and actively pursue structural transformation. In the future, new energy will become a significant industry in the world and PV is a very good cut-in point, because this industry is especially suitable for China, and China does not have a big technological gap with the world in this field.
SI China: Can you talk about the roadmap for Astronergy in the next two or three years?
Astronergy will emphasize thin-film PV technology.Yang: At the end of November, our first intermediary experimental line was installed and underwent a test run, and we will have our own products early next year. At the beginning the output will not be very high. First of all, we will reach our preset goal for average conversion efficiency. The mass production line is expected to be installed and test run in the first quarter of next year, and will go into mass production in the middle of next year. This is our first goal. After this goal is reached, Astronergy will increase the production scale as soon as possible, and the production capacity will reach 60 MW in 2009 and180 MW in 2010, and will become higher and higher after 2011. Of course, the growth rate may be adjusted based on some unexpected factors. If the market needs a higher production capacity, we can grow faster. In the next 3-4 years, the production capacity can be expected to reach 300-400 MW.
I believe that by 2011 the thin-film cell from Astronergy will be able to take a significant share — 20% or even higher — in China’s market for high-end thin-film cells. Within a period of time, the thin-film market will shift from the low-end thin films to the high-end ones, and in this process, we hope that we can capitalize on our advantage in production capacity accumulated in the initial stage to go faster in realizing the economy of scale in mass production.
Wednesday, December 10, 2008
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.
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.
Wednesday, December 3, 2008
Air Products Signs Contract with China's Best Solar
LEHIGH VALLEY, Pa. (December 2, 2008) - Air Products (NYSE:APD) today announced it has signed a turnkey gas supply contract to provide on-site gases, liquid bulk gases, specialty gases and gas equipment to China's Best Solar Hi Tech Co., Ltd, which is building a new thin-film photovoltaic (PV) facility in the Wuzhong Economic Development Park in Suzhou, Jiangsu Province, China. When the facility comes on-stream at its full capacity, it will have an annual solar module manufacturing capacity of 330MW.
The contract between Air Products and Best Solar includes the long-term supply of hydrogen, nitrogen and argon, and specialty gases such as silane, nitrogen trifluoride (NF3) and dopant gases. Air Products will also install and manage the bulk gas and specialty gas supply systems.
"We are proud to have Best Solar's confidence in our supply capabilities for what will be one of the world's largest thin-film photovoltaic production facilities," said Corning Painter, vice president and general manager, Global Electronics, Air Products. "Our leadership position in the supply and delivery of the key materials for the PV market makes Air Products the safe and reliable choice for the growing PV industry."
Best Solar's thin-film PV modules, which convert sunlight directly into electricity, will be manufactured in much the same way as thin-film transistor-liquid crystal displays (TFT-LCD). As one of the largest suppliers to the TFT-LCD industry, Air Products is ideally suited to supply the new facility. This contract marks Air Products' largest investment in the burgeoning thin-film photovoltaic industry and complements its existing crystalline PV offerings.
With the demand for renewable energy and improved efficiency on the rise, Air Products is well positioned to take advantage of these developing markets with its expertise and project experience in areas including large scale hydrogen supply for cleaner transportation fuels, developmental work on the hydrogen economy, hydrogen vehicle fueling and infrastructure, leading natural gas liquefaction technology and now the growing supply of gases and services for the photovoltaic industry.
The contract between Air Products and Best Solar includes the long-term supply of hydrogen, nitrogen and argon, and specialty gases such as silane, nitrogen trifluoride (NF3) and dopant gases. Air Products will also install and manage the bulk gas and specialty gas supply systems.
"We are proud to have Best Solar's confidence in our supply capabilities for what will be one of the world's largest thin-film photovoltaic production facilities," said Corning Painter, vice president and general manager, Global Electronics, Air Products. "Our leadership position in the supply and delivery of the key materials for the PV market makes Air Products the safe and reliable choice for the growing PV industry."
Best Solar's thin-film PV modules, which convert sunlight directly into electricity, will be manufactured in much the same way as thin-film transistor-liquid crystal displays (TFT-LCD). As one of the largest suppliers to the TFT-LCD industry, Air Products is ideally suited to supply the new facility. This contract marks Air Products' largest investment in the burgeoning thin-film photovoltaic industry and complements its existing crystalline PV offerings.
With the demand for renewable energy and improved efficiency on the rise, Air Products is well positioned to take advantage of these developing markets with its expertise and project experience in areas including large scale hydrogen supply for cleaner transportation fuels, developmental work on the hydrogen economy, hydrogen vehicle fueling and infrastructure, leading natural gas liquefaction technology and now the growing supply of gases and services for the photovoltaic industry.
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.
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.
Tuesday, December 2, 2008
Chinese PV product makers face gloomy fourth quarter
Beijing. December 2. INTERFAX-CHINA - Chinese photovoltaic product manufacturers, who have just enjoyed a two-year boom period, are concerned that the global financial crisis will cool overseas demand and impact their bottom lines in the fourth quarter.
Chinese PV product manufacturers rely on exports for 95 percent to 98 percent of their sales, and as such, the industry could be in for a long winter, Qu Xiaohua, president of Suzhou-based PV product maker CSI Solar Manufacturing Inc., told Interfax at the 3rd China New Energy International Forum. According to CSI's third quarter report, the company has lowered its expectations for shipments, margins and earnings for the fourth quarter.
Changzhou-based Trina Solar Ltd., another PV product manufacturer, has seen demand for its products shrink in recent months and some of its customers have even reneged on contracts, according to the company's technology committee director Qiu Diming.
Shi Zhengrong, chairman and CEO of Suntech Power, China's largest solar cell producer and a major exporter to Europe, agreed that China's PV product market is entering a tough period. Suntech Power stated in its third quarter report that the weakening of the Euro against the U.S. dollar, combined with unstable credit markets, would hurt its profitability in the fourth quarter.
Meanwhile, manufacturers have been unable to gain some breathing room by capitalizing on the recent tumble in prices for polysilicon, a raw material used to make PV products, which have halved from a high of RMB 3,000 ($439.24) per kilogram in July, as they have also cut solar cell and solar module prices on poor demand.
According to Shi from Suntec Power, which is also operates solar power stations, the industry should band together to petition for more government support, with the aim of extracting policies that will stimulate the domestic market as overseas markets weaken.
One of the problems that Suntech faces is that there are no incentives for power grid companies to spend money to connect solar power stations to their grids, despite China's Renewable Energy Law, which requires them to do so. Shi said that it took two years for one of Suntech Power's projects to be connected to the local grid.
Song Shucai, deputy general manager of Tianwei Group, a large Hebei-based renewable energy developer, suggested that the government raise power tariffs by RMB 0.02 ($0.0029) and use the proceeds to subsidize renewable energy projects.
Despite their concerns, Chinese PV product manufacturers are trying to look on the bright side of things. Several executives pointed out that the European Union, the United States and Japan are now encouraging solar power development as a way to stimulate economic growth.
In the meantime, Chinese PV product manufacturers could increase their focus on thin-film silicon PV modules, a sub-area that is attracting significant interest, especially from state-owned companies with deep pockets.
Jeannine Sargent from Oerlikon Solar, the world's leading manufacturer of thin-film PV silicon solutions, told Interfax that China's thin-film PV market will still be one of the fastest growing markets when compared with others around the globe. "For Oerlikon Solar, we are expecting a 200 percent increase in revenue from 2007 to 2009 in China."
Dr. Sun Haiyan, head of Oerlikon Solar Technical Marketing Asia, believes there are a couple of reasons why the sector will remain strong in the near term. "The price of glass, which is used as a raw material in thin-film solar module production, is quite cheap in China, which is an advantage when it comes to manufacturing," he said, adding that state-owned companies will likely support development in this field.
In this April and July, Oerlikon Solar signed two turnkey contracts with China's Tianwei Group and Chint Solar to supply thin-film solar module production lines. "We anticipate that we will not only build manufacturing facilities, but also partner with our customers on an R & D center as well," Sargent said.
Chinese PV product manufacturers rely on exports for 95 percent to 98 percent of their sales, and as such, the industry could be in for a long winter, Qu Xiaohua, president of Suzhou-based PV product maker CSI Solar Manufacturing Inc., told Interfax at the 3rd China New Energy International Forum. According to CSI's third quarter report, the company has lowered its expectations for shipments, margins and earnings for the fourth quarter.
Changzhou-based Trina Solar Ltd., another PV product manufacturer, has seen demand for its products shrink in recent months and some of its customers have even reneged on contracts, according to the company's technology committee director Qiu Diming.
Shi Zhengrong, chairman and CEO of Suntech Power, China's largest solar cell producer and a major exporter to Europe, agreed that China's PV product market is entering a tough period. Suntech Power stated in its third quarter report that the weakening of the Euro against the U.S. dollar, combined with unstable credit markets, would hurt its profitability in the fourth quarter.
Meanwhile, manufacturers have been unable to gain some breathing room by capitalizing on the recent tumble in prices for polysilicon, a raw material used to make PV products, which have halved from a high of RMB 3,000 ($439.24) per kilogram in July, as they have also cut solar cell and solar module prices on poor demand.
According to Shi from Suntec Power, which is also operates solar power stations, the industry should band together to petition for more government support, with the aim of extracting policies that will stimulate the domestic market as overseas markets weaken.
One of the problems that Suntech faces is that there are no incentives for power grid companies to spend money to connect solar power stations to their grids, despite China's Renewable Energy Law, which requires them to do so. Shi said that it took two years for one of Suntech Power's projects to be connected to the local grid.
Song Shucai, deputy general manager of Tianwei Group, a large Hebei-based renewable energy developer, suggested that the government raise power tariffs by RMB 0.02 ($0.0029) and use the proceeds to subsidize renewable energy projects.
Despite their concerns, Chinese PV product manufacturers are trying to look on the bright side of things. Several executives pointed out that the European Union, the United States and Japan are now encouraging solar power development as a way to stimulate economic growth.
In the meantime, Chinese PV product manufacturers could increase their focus on thin-film silicon PV modules, a sub-area that is attracting significant interest, especially from state-owned companies with deep pockets.
Jeannine Sargent from Oerlikon Solar, the world's leading manufacturer of thin-film PV silicon solutions, told Interfax that China's thin-film PV market will still be one of the fastest growing markets when compared with others around the globe. "For Oerlikon Solar, we are expecting a 200 percent increase in revenue from 2007 to 2009 in China."
Dr. Sun Haiyan, head of Oerlikon Solar Technical Marketing Asia, believes there are a couple of reasons why the sector will remain strong in the near term. "The price of glass, which is used as a raw material in thin-film solar module production, is quite cheap in China, which is an advantage when it comes to manufacturing," he said, adding that state-owned companies will likely support development in this field.
In this April and July, Oerlikon Solar signed two turnkey contracts with China's Tianwei Group and Chint Solar to supply thin-film solar module production lines. "We anticipate that we will not only build manufacturing facilities, but also partner with our customers on an R & D center as well," Sargent said.
Thursday, November 27, 2008
Linde Signs 3 Thin Film Contracts, Captures over 50% of Market in China
Nov 26, 2008
The Linde Group's local subsidiary, Linde LienHwa, has signed contracts with Tianwei Baoding, Hangzhou Amplesun Solar and ENN Solar in China. These three new multi-million US dollar contracts are believed by the company to enable it to capture more than 50% of the thin film photovoltaic (PV) market in China.
As part of these long-term contracts, The Linde Group will be providing ongoing delivery of bulk and specialty gases essential to making thin film solar cells-- including large volumes of silane and hydrogen gas, used to deposit silicon light absorbing layers on large-area sheets of glass used in solar panels.The first phase of the ENN Solar plant in Langfang will start commercial production by Q2 of 2009, with a capacity of 60MW, and possible future expansion up to 0.5GW.
Baoding Tianwei Solarfilms is working with Linde to future-proof its gas installation and supply chain. Tianwei's new thin film solar production facility in Baoding, worth over Rmb1.2 billion (about US$180 million), will go online in the first quarter of 2009.
Hangzhou Amplesun Solar Technology Co Ltd is a privately invested high-tech company devoted to next-generation "green" power with a current investment of Rmb2.2 billion (about US$320 million). Jin Qing Guo, CEO of Amplesun Solar said: "Linde has been facilitating our needs on specialty gases as well as on-site services, which will greatly speed up our capacity scale-up in the production of thin film solar modules."
The Linde Group's local subsidiary, Linde LienHwa, has signed contracts with Tianwei Baoding, Hangzhou Amplesun Solar and ENN Solar in China. These three new multi-million US dollar contracts are believed by the company to enable it to capture more than 50% of the thin film photovoltaic (PV) market in China.
As part of these long-term contracts, The Linde Group will be providing ongoing delivery of bulk and specialty gases essential to making thin film solar cells-- including large volumes of silane and hydrogen gas, used to deposit silicon light absorbing layers on large-area sheets of glass used in solar panels.The first phase of the ENN Solar plant in Langfang will start commercial production by Q2 of 2009, with a capacity of 60MW, and possible future expansion up to 0.5GW.
Baoding Tianwei Solarfilms is working with Linde to future-proof its gas installation and supply chain. Tianwei's new thin film solar production facility in Baoding, worth over Rmb1.2 billion (about US$180 million), will go online in the first quarter of 2009.
Hangzhou Amplesun Solar Technology Co Ltd is a privately invested high-tech company devoted to next-generation "green" power with a current investment of Rmb2.2 billion (about US$320 million). Jin Qing Guo, CEO of Amplesun Solar said: "Linde has been facilitating our needs on specialty gases as well as on-site services, which will greatly speed up our capacity scale-up in the production of thin film solar modules."
Tuesday, November 25, 2008
Two thin film projects landed in Zhenjiang
November 23rd 2008, Taiwan Asia Solar Company and Hongkong Cambridge Thin Film Solar Company signed investment agreement with Zhenjiang government to build thin film projects in Zhenjiang.
Taiwan Asia Solar Company will invest 45 million USD to produce thin film solar cell production equipments, and the first production line will be installed in the first half year 2009, and the production capacity will reach 48 thin film solar cell production lines in 5 years.
Hongkong Cambridge Thin Film Solar Company will invest 90 million USD to produce thin film solar cells, and the production lines will be purchased from Taiwan Asia Solar Company. 4 thin film solar cell production lines will be installed in 3 years, 2 pcs of 50MW production lines and 2 pcs of 100MW production lines, then the total production capacity will reach 300MW.
Taiwan Asia Solar Company will invest 45 million USD to produce thin film solar cell production equipments, and the first production line will be installed in the first half year 2009, and the production capacity will reach 48 thin film solar cell production lines in 5 years.
Hongkong Cambridge Thin Film Solar Company will invest 90 million USD to produce thin film solar cells, and the production lines will be purchased from Taiwan Asia Solar Company. 4 thin film solar cell production lines will be installed in 3 years, 2 pcs of 50MW production lines and 2 pcs of 100MW production lines, then the total production capacity will reach 300MW.
Friday, November 7, 2008
Solar Power Generation Cost to Drop to CNY1 per KWH in 2012
WUXI, Nov 07, 2008 (SinoCast via COMTEX) -- China's generation cost of solar power will reach CNY 1 per KWH in 2012, predicted Shi Zhengrong, board chairman and CEO of Suntech Power.
Peng Xiaofeng, board chairman and CEO of solar wafer manufacturer LDK Solar Co., Ltd. (NYSE: LDK), declares that the financial crisis will further lower the company's procurement and labor costs by 40% to 50%.
And China Guodian Corporation (CGDC) has announced the foundation of Guodian Ningxia Solar Energy Company, to build polycrystalline silicon and thin-film cell projects, with a designed production capacity of 10,000 tons per year.
Moreover, Huaneng New Energy Industrial Co., Ltd. (HNEIC) General Manager Zhao Shiming releases that the generation cost of wind power has dropped to CNY 0.5 to CNY 0.6 per KWH, and that of thermal power is CNY 0.2 to CNY 0.3 per KWH.
Shanghai Electric Group Co., Ltd. (SEHK: 2727) Board Chairman and CEO Xu Jianguo reveals that wind power equipment has contributed to 50% of the company's sales revenues, and 60% of its profit.
Peng Xiaofeng, board chairman and CEO of solar wafer manufacturer LDK Solar Co., Ltd. (NYSE: LDK), declares that the financial crisis will further lower the company's procurement and labor costs by 40% to 50%.
And China Guodian Corporation (CGDC) has announced the foundation of Guodian Ningxia Solar Energy Company, to build polycrystalline silicon and thin-film cell projects, with a designed production capacity of 10,000 tons per year.
Moreover, Huaneng New Energy Industrial Co., Ltd. (HNEIC) General Manager Zhao Shiming releases that the generation cost of wind power has dropped to CNY 0.5 to CNY 0.6 per KWH, and that of thermal power is CNY 0.2 to CNY 0.3 per KWH.
Shanghai Electric Group Co., Ltd. (SEHK: 2727) Board Chairman and CEO Xu Jianguo reveals that wind power equipment has contributed to 50% of the company's sales revenues, and 60% of its profit.
Thursday, November 6, 2008
IFC channels USD136 mln into ENN Solar Energy in N.China
BEIJING, Nov 05, 2008 (Xinhua via COMTEX) -- International Finance Corporation (IFC) recently announced that it would arrange for 136 million U.S. dollars to finance China's first thin-film solar module production plant of ENN Solar Energy Co., Ltd.
This financing package includes 45 million U.S. dollars loan from IFC, 76 million U.S. dollars from syndicated loans and 15 million U.S. dollars as IFC's equity investment.
Situated in Langfang of North China's Hebei Province, this thin-film solar module program has planned overall investment of 14 billion yuan to build nine production lines in three phases.
The first production line is expected to come into commercial production in the second quarter of 2009 with annual production capacity at 600 MW.
IFC investment is aimed to help reduce the production cost of solar power generation and stimulate the development of Chinese photovoltaic market, according to IFC.
Earlier this year, ENN Group, parent of ENN Solar Energy, announced a plan to introduce automatic production line of Applied Materials Inc. (AMAT.Nasdaq).
Founded in 1989, ENN Group is one of China's major private town gas operators with total assets exceeding 20 billion yuan as of yearend 2007.
This financing package includes 45 million U.S. dollars loan from IFC, 76 million U.S. dollars from syndicated loans and 15 million U.S. dollars as IFC's equity investment.
Situated in Langfang of North China's Hebei Province, this thin-film solar module program has planned overall investment of 14 billion yuan to build nine production lines in three phases.
The first production line is expected to come into commercial production in the second quarter of 2009 with annual production capacity at 600 MW.
IFC investment is aimed to help reduce the production cost of solar power generation and stimulate the development of Chinese photovoltaic market, according to IFC.
Earlier this year, ENN Group, parent of ENN Solar Energy, announced a plan to introduce automatic production line of Applied Materials Inc. (AMAT.Nasdaq).
Founded in 1989, ENN Group is one of China's major private town gas operators with total assets exceeding 20 billion yuan as of yearend 2007.
Saturday, November 1, 2008
Second wave of major new Chinese module manufacturers coming in 2009
Current financial crisis could speed up consolidation in PV industry
By: Edwin Koot (CEO solarplaza)
31 October 2008 - The global solar energy market in 2008 is expected to grow by 50% compared to 2007. The Chinese solar PV industry is growing rapidly and will soon be the biggest producer of solar cells and modules in the world. There are now over 100 Chinese solar module manufacturers, and even more new market players are expected in the short term. The question is: what might the current credit crisis and pessimistic economic forecasts mean for the PV market and industry in 2009? With solar modules becoming a commodity product, China will definitely be playing a key role as a major producer of solar cells and modules. However, if we look at the maturity of the PV industry right now, and what has happened in other industries, an imminent consolidation phase seems likely. That could mean that fewer producers, and only the bigger ones among them, will survive. So which companies are likely to be the winners, and be reliable business partners for the long term?
Global PV market developments
The PV market is likely to grow less rapidly in 2009. First of all, the world's biggest market in 2008 - Spain - has reduced its support for solar energy. Feed-in tariffs will be cut by 30% in 2009 and, even more significantly, only 500 MWp of new installed PV power will be eligible for this feed-in tariff. This could lead to a decrease in volume for the Spanish market of more than 60%. With feed-in tariffs going down by around 10% in the German PV market, which was the world's biggest PV market for many years, it is likely to grow, but at a moderate rate. Growth in other markets is also dependent on government support programs. And although the US government recently agreed on an eight-year extension of the federal tax credit scheme for solar energy, the US market is not likely to grow very rapidly. The current credit crisis, and the economic recession forecasted for 2009, will limit the available finance from banks, and therefore also limit the development of new PV projects.
On the supply side, along with the global PV industry as a whole, supply will grow even faster than market demand in 2009. A conservative forecast by the Prometheus Institute suggests that solar module production volume will grow by a massive 80% in 2009. Most of the investments in new production capacity were planned between late 2007 and 2008, under the highly profitable market conditions.
Consolidation phase
Last September, SolarPlaza held the second Global PV Demand Conference in Valencia, Spain. The conclusion was that the huge growth in solar module production over the next two years, compared with the ?modest? growth in demand, would lead to an oversupply situation commencing in 2009. The experts in attendance predicted that this would create a consolidation phase in the PV industry. This conclusion was drawn even before the international credit crisis began. The difficulty in obtaining finance for new solar energy systems is now visible in the European PV markets. Even worse is the situation in the USA. Not only is the credit market frozen, the country is also facing economic recession in 2009 and possibly even 2010. Under these conditions, with the oil price falling and with no bank to finance PV system investments, customers might think twice about spending their savings on solar energy. Therefore, the credit and economic crisis may prevent rapid growth in both the US and the global PV markets. Together with the inevitable oversupply situation already predicted for 2009, the solar PV industry could be facing very hard times over the next two years. For the longer term, market forecasts are extremely positive. Industry consolidation will bring module prices down further. And, within a few years, one solar kilowatt hour will equal the price of electricity from the grid (?grid parity?) in the world's sunny regions. This will unleash unlimited market potential.
As a result, for the short term, financially weaker solar cell and module manufacturers, and those without a foothold in the world's key PV markets, will be put out of business or driven into the hands of some larger partner. In other words, the global economic crisis will speed up the consolidation phase in the PV industry.
Who will be the winners?
The world's leading manufacturers in the solar industry are well placed for continued growth in 2009. The top 10 of the world's biggest solar module manufacturers includes several Chinese companies, like Suntech Power, Yingli Solar and Trina Solar. These companies started up during the first wave of new Chinese PV industries a few years ago, and all three of them are listed on the New York Stock Exchange. They have grown rapidly and made healthy profits in 2007 and 2008. Their track record will help them to remain on the shortlist of banks financing PV projects. Their full order books will help them through a more difficult market phase in 2009. However, there are dozens of other manufacturers out there on the market. Many of them are relatively small, or just started trading in 2007, following the hype to produce solar modules. Back in 2007, the market became very hungry for modules. The availability of modules counted for more than the brand name. Now European and US banks are hesitant to provide PV project finance. A manufacturer needs to be highly bankable, or at least will need to offer sufficient financial guarantees, before any shipments can take place. If a company fails, all its modules will need to be returned, or the investor repaid. Only the bigger, financially sound companies will be able to fulfill these requirements. The first signs from China are that several smaller manufacturers are stopping production or actively looking for a takeover.
Companies and (big) manufacturers with healthy balance sheets and full order books will be in a good position to survive a difficult 2009.
The second wave
Nevertheless, it could turn out that the future winners among the manufacturers will be relatively unknown players: companies that have just started producing solar wafers, cells and modules, that have a strong vision, a conviction that the solar energy market will continue to grow in the long term, and deep pockets to see them through a difficult start-up phase under the current economic conditions.
Some major production initiatives by industrial companies or conglomerates with a variety of backgrounds have been announced or are underway ? from a glass manufacturer (CSG), to an industrial glove manufacturer (QS solar), to an energy utility (ENN), to a manufacturer of electronic devices (Chint). Their balance sheets will easily be more robust than those of the better-known existing European module manufacturers.
The benefit for European and US companies is that the Chinese companies will still need to develop their sales and distribution network structures in key markets. They are keen to do business directly with bigger end customers like PV project developers. And they are willing to offer financial security packages to overcome the doubts of banks and customers. Developers in Europe might ask themselves why they should pay ?0.30/Wp more for a well-known European module brand if the Chinese manufacturer is offering a full financial security package and is backed by a hundredmillion or more dollar parent company with thousands of employees.
It is difficult to give prices for their modules, since currencies are so volatile, but recently prices have been offered of between $3.60 and $3.75/Wp for deliveries of crystalline modules up to the end of 2008.
Several of these major new Chinese players have moved into thin film. In 2009 alone, total installed capacity could exceed 1.5 GW, then rapidly expand to double that figure one year later. This new wave of solar modules will start coming onto the market in early 2009, when the products will have their full IEC/UL certification. Prices will depend on the state of the dollar, but offers have been seen of $2.50/Wp.
These major new players may very well be among the manufacturers that survive the imminent consolidation phase. They can take a little head wind and prepare themselves for rapid market growth in the long term, when it will be full steam ahead once more.
By: Edwin Koot (CEO solarplaza)
31 October 2008 - The global solar energy market in 2008 is expected to grow by 50% compared to 2007. The Chinese solar PV industry is growing rapidly and will soon be the biggest producer of solar cells and modules in the world. There are now over 100 Chinese solar module manufacturers, and even more new market players are expected in the short term. The question is: what might the current credit crisis and pessimistic economic forecasts mean for the PV market and industry in 2009? With solar modules becoming a commodity product, China will definitely be playing a key role as a major producer of solar cells and modules. However, if we look at the maturity of the PV industry right now, and what has happened in other industries, an imminent consolidation phase seems likely. That could mean that fewer producers, and only the bigger ones among them, will survive. So which companies are likely to be the winners, and be reliable business partners for the long term?
Global PV market developments
The PV market is likely to grow less rapidly in 2009. First of all, the world's biggest market in 2008 - Spain - has reduced its support for solar energy. Feed-in tariffs will be cut by 30% in 2009 and, even more significantly, only 500 MWp of new installed PV power will be eligible for this feed-in tariff. This could lead to a decrease in volume for the Spanish market of more than 60%. With feed-in tariffs going down by around 10% in the German PV market, which was the world's biggest PV market for many years, it is likely to grow, but at a moderate rate. Growth in other markets is also dependent on government support programs. And although the US government recently agreed on an eight-year extension of the federal tax credit scheme for solar energy, the US market is not likely to grow very rapidly. The current credit crisis, and the economic recession forecasted for 2009, will limit the available finance from banks, and therefore also limit the development of new PV projects.
On the supply side, along with the global PV industry as a whole, supply will grow even faster than market demand in 2009. A conservative forecast by the Prometheus Institute suggests that solar module production volume will grow by a massive 80% in 2009. Most of the investments in new production capacity were planned between late 2007 and 2008, under the highly profitable market conditions.
Consolidation phase
Last September, SolarPlaza held the second Global PV Demand Conference in Valencia, Spain. The conclusion was that the huge growth in solar module production over the next two years, compared with the ?modest? growth in demand, would lead to an oversupply situation commencing in 2009. The experts in attendance predicted that this would create a consolidation phase in the PV industry. This conclusion was drawn even before the international credit crisis began. The difficulty in obtaining finance for new solar energy systems is now visible in the European PV markets. Even worse is the situation in the USA. Not only is the credit market frozen, the country is also facing economic recession in 2009 and possibly even 2010. Under these conditions, with the oil price falling and with no bank to finance PV system investments, customers might think twice about spending their savings on solar energy. Therefore, the credit and economic crisis may prevent rapid growth in both the US and the global PV markets. Together with the inevitable oversupply situation already predicted for 2009, the solar PV industry could be facing very hard times over the next two years. For the longer term, market forecasts are extremely positive. Industry consolidation will bring module prices down further. And, within a few years, one solar kilowatt hour will equal the price of electricity from the grid (?grid parity?) in the world's sunny regions. This will unleash unlimited market potential.
As a result, for the short term, financially weaker solar cell and module manufacturers, and those without a foothold in the world's key PV markets, will be put out of business or driven into the hands of some larger partner. In other words, the global economic crisis will speed up the consolidation phase in the PV industry.
Who will be the winners?
The world's leading manufacturers in the solar industry are well placed for continued growth in 2009. The top 10 of the world's biggest solar module manufacturers includes several Chinese companies, like Suntech Power, Yingli Solar and Trina Solar. These companies started up during the first wave of new Chinese PV industries a few years ago, and all three of them are listed on the New York Stock Exchange. They have grown rapidly and made healthy profits in 2007 and 2008. Their track record will help them to remain on the shortlist of banks financing PV projects. Their full order books will help them through a more difficult market phase in 2009. However, there are dozens of other manufacturers out there on the market. Many of them are relatively small, or just started trading in 2007, following the hype to produce solar modules. Back in 2007, the market became very hungry for modules. The availability of modules counted for more than the brand name. Now European and US banks are hesitant to provide PV project finance. A manufacturer needs to be highly bankable, or at least will need to offer sufficient financial guarantees, before any shipments can take place. If a company fails, all its modules will need to be returned, or the investor repaid. Only the bigger, financially sound companies will be able to fulfill these requirements. The first signs from China are that several smaller manufacturers are stopping production or actively looking for a takeover.
Companies and (big) manufacturers with healthy balance sheets and full order books will be in a good position to survive a difficult 2009.
The second wave
Nevertheless, it could turn out that the future winners among the manufacturers will be relatively unknown players: companies that have just started producing solar wafers, cells and modules, that have a strong vision, a conviction that the solar energy market will continue to grow in the long term, and deep pockets to see them through a difficult start-up phase under the current economic conditions.
Some major production initiatives by industrial companies or conglomerates with a variety of backgrounds have been announced or are underway ? from a glass manufacturer (CSG), to an industrial glove manufacturer (QS solar), to an energy utility (ENN), to a manufacturer of electronic devices (Chint). Their balance sheets will easily be more robust than those of the better-known existing European module manufacturers.
The benefit for European and US companies is that the Chinese companies will still need to develop their sales and distribution network structures in key markets. They are keen to do business directly with bigger end customers like PV project developers. And they are willing to offer financial security packages to overcome the doubts of banks and customers. Developers in Europe might ask themselves why they should pay ?0.30/Wp more for a well-known European module brand if the Chinese manufacturer is offering a full financial security package and is backed by a hundredmillion or more dollar parent company with thousands of employees.
It is difficult to give prices for their modules, since currencies are so volatile, but recently prices have been offered of between $3.60 and $3.75/Wp for deliveries of crystalline modules up to the end of 2008.
Several of these major new Chinese players have moved into thin film. In 2009 alone, total installed capacity could exceed 1.5 GW, then rapidly expand to double that figure one year later. This new wave of solar modules will start coming onto the market in early 2009, when the products will have their full IEC/UL certification. Prices will depend on the state of the dollar, but offers have been seen of $2.50/Wp.
These major new players may very well be among the manufacturers that survive the imminent consolidation phase. They can take a little head wind and prepare themselves for rapid market growth in the long term, when it will be full steam ahead once more.
Tuesday, October 28, 2008
Intel Capital to invest 20 mln usd in Trony Solar Holdings - UPDATE
BEIJING (XFN-ASIA) - Intel Capital, the global investment arm of US chip maker Intel Corp, said it will invest 20 mln usd in Trony Solar Holdings, a leading Chinese thin-film solar cell company.
Intel Capital said it will also invest in two other Chinese firms - NP Holdings Ltd, which is involved in massive electricity storage systems, and View High, a software provider for the healthcare industry.
It revealed no financial details about these two investments.
Stephen Eichenlaub, an Intel Capital managing director for emerging platform technologies and the clean technology sector said Trony Solar Holdings and NP Holdings are Intel's first Chinese cleantech investments.
Eichenlaub said that China's cleantech industry is experiencing rapid development and Intel Capital expects to focus more on the sector in future.
Cadol Cheung, Intel Capital managing director for the Asia and Pacific Region, said despite the global financial turmoil, Intel Capital remains committed to the China market and has no plans to slow down investment in the mainland.
Cheung said the 500 mln usd Intel Technology Fund II, which was launched in April, has invested in six projects so far, mostly as a strategic investor. The companies it invests in are seen as potential acquisition targets or listing candidates.
susan.wang@xfn.com - xfnzw/xfjamesa/xfaws/xfntm
28 October 2008
Intel Capital said it will also invest in two other Chinese firms - NP Holdings Ltd, which is involved in massive electricity storage systems, and View High, a software provider for the healthcare industry.
It revealed no financial details about these two investments.
Stephen Eichenlaub, an Intel Capital managing director for emerging platform technologies and the clean technology sector said Trony Solar Holdings and NP Holdings are Intel's first Chinese cleantech investments.
Eichenlaub said that China's cleantech industry is experiencing rapid development and Intel Capital expects to focus more on the sector in future.
Cadol Cheung, Intel Capital managing director for the Asia and Pacific Region, said despite the global financial turmoil, Intel Capital remains committed to the China market and has no plans to slow down investment in the mainland.
Cheung said the 500 mln usd Intel Technology Fund II, which was launched in April, has invested in six projects so far, mostly as a strategic investor. The companies it invests in are seen as potential acquisition targets or listing candidates.
susan.wang@xfn.com - xfnzw/xfjamesa/xfaws/xfntm
28 October 2008
Thursday, October 23, 2008
Guodian Technology & Environment Group founded Guodian Ningxia Solar Energy to produce solar products
2008 October 13th, Guodian Ningxia Solar Energy Company was founded by Guodian Technology & Environment Group to produce solar products.
Guodian Ningxia Solar Energy Company will start from polysilicon production, then expand to silicon solar cell and thin film solar cell production. The planned polysilicon project capacity is 10,000 metric tons per year, and the first phase project is 2,500 metric tons of electronic grade polysilicon.
Early this year Guodian Technology & Environment Group once signed an agreement with Daqo Group to build polysilicon production project together, and the announced capacity was 6,000 metric tons.
Guodian Ningxia Solar Energy Company will start from polysilicon production, then expand to silicon solar cell and thin film solar cell production. The planned polysilicon project capacity is 10,000 metric tons per year, and the first phase project is 2,500 metric tons of electronic grade polysilicon.
Early this year Guodian Technology & Environment Group once signed an agreement with Daqo Group to build polysilicon production project together, and the announced capacity was 6,000 metric tons.
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