9/17/2007 3:22:39 PM China Technology Development Group Corporation (CTDC), a provider of information technology and network security services, said Monday it agreed to acquire all the solar energy assets and business of Shenzhen Soyin Electrical Appliance Industrial Co., Ltd. through a joint venture between the companies.
The Hong Kong-based CTDC expects to contribute US$5.8 million or RMB43.80 million in cash consideration to the new joint venture company, Shenzhen Shengguang New Energy Technology Co., Ltd. CTDC will hold the majority stake with 49% of ownership of the joint venture company.
Under the agreement, all of Soyin's existing solar energy business will be solely operated by the JV Company upon completion of its establishment. In addition, the board of directors of the JV Company will consist of five directors and three of them will be appointed by CTDC.
Soyin is a leading Photovoltaic application product provider in China.
"This acquisition of the solar energy business presents a significant opportunity to accelerate the expansion and growth of the Company's business portfolio in the solar energy market. We are committed to growing our business both through organic growth and strategic acquisitions," said Alan Li, Chairman and Chief Executive Officer of CTDC.
CTDC is trading at $6.30, up $0.30 or 5.00% on a volume of 2.57 million shares.
Tuesday, September 18, 2007
Yingli Green Energy Signs New Supply Agreement with Wacker Chemie AG
Business Wire, September 17, 2007 Monday 10:00 AM GMT
Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company"), a leading vertically integrated photovoltaic ("PV") product manufacturer in China, today announced that it has entered into a new mid to long term agreement with Wacker Chemie AG ("Wacker") of Germany. Under the terms of the agreement, Wacker will supply Yingli Green Energy with polysilicon from 2009 to 2011. The total amount of polysilicon supplied will allow Yingli Green Energy to produce over 80MW of PV modules over the life of the agreement.
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented, "This fourth supply agreement, together with our three existing long-term supply agreements with Wacker, further exemplifies the solid partnership that we have had with Wacker AG since 2003. We believe this additional agreement will further enable our ability to complete the next 200MW capacity expansion plan on schedule"
Mr. Reimund Huber, Director of Marketing & Sales of Wacker, commented, "As a market leader in an area facing rapidly growing demand, we are glad to strengthen and diversify our relationship with Yingli Green Energy. We believe this agreement will benefit both partners and it coincides with our previously announced strategy of reaching a total capacity of 21,500 metric tons by the end of 2010."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 megawatts by 2010. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, China and the United States.
Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company"), a leading vertically integrated photovoltaic ("PV") product manufacturer in China, today announced that it has entered into a new mid to long term agreement with Wacker Chemie AG ("Wacker") of Germany. Under the terms of the agreement, Wacker will supply Yingli Green Energy with polysilicon from 2009 to 2011. The total amount of polysilicon supplied will allow Yingli Green Energy to produce over 80MW of PV modules over the life of the agreement.
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented, "This fourth supply agreement, together with our three existing long-term supply agreements with Wacker, further exemplifies the solid partnership that we have had with Wacker AG since 2003. We believe this additional agreement will further enable our ability to complete the next 200MW capacity expansion plan on schedule"
Mr. Reimund Huber, Director of Marketing & Sales of Wacker, commented, "As a market leader in an area facing rapidly growing demand, we are glad to strengthen and diversify our relationship with Yingli Green Energy. We believe this agreement will benefit both partners and it coincides with our previously announced strategy of reaching a total capacity of 21,500 metric tons by the end of 2010."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 megawatts by 2010. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, China and the United States.
China Sunergy Signs Wafer Supply Agreement
September 17, 2007: 07:46 AM EST
NANJING, China, Sept. 17 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the "Agreement") with a leading Taiwan based wafer provider, for a high quality supply of approximately 68 megawatts of monocrystalline 156-millimeter wafers for 2007, 2008 and 2009.
The scheduled shipments are expected to begin in November 2007 and expire in December 2009. The Agreement provides for 8% of the wafer supplies to be shipped in 2007, and 46% to be shipped in 2008 and 2009, respectively. The pricing terms are generally subject to negotiation on a quarterly basis.
Commenting on the Agreement, Allen Wang, CEO of China Sunergy said, "Since I joined China Sunergy, one of my priorities has been to secure a reliable, long-term supply of poly-silicon and high-quality wafers to further enhance our product conversion efficiency and competitiveness. By partnering with our new supplier, we are reducing our reliance on the spot market, and I believe that the cost savings involved will ease the current pressure we are seeing on our margins."
About China Sunergy Co., Ltd.:
China Sunergy Co., Ltd. ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
NANJING, China, Sept. 17 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the "Agreement") with a leading Taiwan based wafer provider, for a high quality supply of approximately 68 megawatts of monocrystalline 156-millimeter wafers for 2007, 2008 and 2009.
The scheduled shipments are expected to begin in November 2007 and expire in December 2009. The Agreement provides for 8% of the wafer supplies to be shipped in 2007, and 46% to be shipped in 2008 and 2009, respectively. The pricing terms are generally subject to negotiation on a quarterly basis.
Commenting on the Agreement, Allen Wang, CEO of China Sunergy said, "Since I joined China Sunergy, one of my priorities has been to secure a reliable, long-term supply of poly-silicon and high-quality wafers to further enhance our product conversion efficiency and competitiveness. By partnering with our new supplier, we are reducing our reliance on the spot market, and I believe that the cost savings involved will ease the current pressure we are seeing on our margins."
About China Sunergy Co., Ltd.:
China Sunergy Co., Ltd. ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
Monday, September 17, 2007
Renewable energy to be a priority for nation
By Cai Cai (China Daily)
Updated: 2007-09-15 13:47
China plans to put even greater effort into developing its renewable energy industry and cut greenhouse gas emissions to maintain sustainable economic growth in the coming years.
Investments worth more than two trillion yuan, or 10 percent of the nation's gross domestic product (GDP) in 2006, are needed to meet the renewable energy target by 2020, according to the National Development and Reform Commission (NDRC).
Addressing a press conference in Beijing early this week, Chen Deming, vice minister of NDRC, reiterated that China's medium and long-term target is to boost its fledging renewable energy industry, which is expected to play an important role in sustaining the country's future economic development.
NDRC plans to raise the ratio of renewable energy in total energy consumption to 10 percent by 2010 and 15 percent by 2020, compared to eight percent at present, Chen said.
Currently, coal annually accounts for more than 70 percent of China's total energy consumption, leaving great potential for the development of hydropower, marsh gas, solar, wind and other clean and renewable energies, he added.
Ambitious plan
According to its ambitious development plan, China's installed hydropower, wind power and solar power generation capacity will increase by 190 million kilowatts, 29 million kilowatts and 1.73 million kilowatts respectively between 2006 and 2020.
By 2020, the nation's installed hydropower, wind power and solar power generation capacity will reach more than 300 million kilowatts, 30 million kilowatts and 1.8 million kilowatts respectively.
To achieve this goal, China will have to seek greater international financial support and cooperation to develop its renewable energy industries in the years ahead, Chen said.
The Chinese government also expects and encourages more domestic small and medium-sized enterprises (SMEs), especially private firms, to join hands in the development of the country's renewable energy industry, the vice-minister added.
He believes there is enough room for both foreign and domestic companies in the huge renewable energy sector.
The Chinese mainland has abundant renewable energy resources.
China generates much lower levels of greenhouse gases than developed countries, but treats the issue seriously and spares no effort to cut carbon dioxide emissions by enhancing energy efficiency and developing renewable energy, Chen pointed out.
Setting a specific target for renewable energy development is part of the country's commitment to saving energy and cutting emissions, he noted.
Incentives to go green
"We will adopt measures to guide and encourage the development of renewable energy. We will come up with various taxation and fiscal incentives, including subsidies and tax breaks," Vice-Minister Chen said.
The preferential policies will ensure equal treatment for all companies, whether private or State-owned, he promised.
Meanwhile China will continue to develop liquid biological fuel under the precondition of ensuring food security, said Chen.
The nation will not encourage the use of corn as bio-fuel raw material but turn to non-food crops, such as sweet potato and sorghum, to produce liquid bio-fuel, including ethanol and bio-diesel.
Most of such non-food crops grow in saline and barren lands that are unsuitable for growing grain, he said.
It is common practice around the world to produce bio-ethanol from corn; the United States annually produces 15 million tons of bio-ethanol from the crop, and has therefore increased corn output but decreased land area for growing soybean.
"In view of the per capita area of China's farmland, such a process is not suitable for the country," Chen said.
On the Chinese mainland, there are four facilities annually producing 1.02 million tons of bio-ethanol with long-preserved grain that has become inedible, he said.
"We will require real estate developers to install solar power equipment in their projects in the coming years to reduce energy consumption. And large State-owned energy enterprises will have quotas for investment in the development of renewable energy," the vice minister added.
Industrial analysts have said that most of the required two trillion yuan investment by 2020 will come from the market, with only a small proportion coming from the government.
As long as there are favorable government policies, market investment will support the development of renewable energy, analysts say.
Market-oriented preferential policies may include setting higher prices for electricity generated by renewable energy.
Hydropower and wind power are priority areas for developing renewable energy, because of the country's vast potential and advanced technology, said Chen.
Updated: 2007-09-15 13:47
China plans to put even greater effort into developing its renewable energy industry and cut greenhouse gas emissions to maintain sustainable economic growth in the coming years.
Investments worth more than two trillion yuan, or 10 percent of the nation's gross domestic product (GDP) in 2006, are needed to meet the renewable energy target by 2020, according to the National Development and Reform Commission (NDRC).
Addressing a press conference in Beijing early this week, Chen Deming, vice minister of NDRC, reiterated that China's medium and long-term target is to boost its fledging renewable energy industry, which is expected to play an important role in sustaining the country's future economic development.
NDRC plans to raise the ratio of renewable energy in total energy consumption to 10 percent by 2010 and 15 percent by 2020, compared to eight percent at present, Chen said.
Currently, coal annually accounts for more than 70 percent of China's total energy consumption, leaving great potential for the development of hydropower, marsh gas, solar, wind and other clean and renewable energies, he added.
Ambitious plan
According to its ambitious development plan, China's installed hydropower, wind power and solar power generation capacity will increase by 190 million kilowatts, 29 million kilowatts and 1.73 million kilowatts respectively between 2006 and 2020.
By 2020, the nation's installed hydropower, wind power and solar power generation capacity will reach more than 300 million kilowatts, 30 million kilowatts and 1.8 million kilowatts respectively.
To achieve this goal, China will have to seek greater international financial support and cooperation to develop its renewable energy industries in the years ahead, Chen said.
The Chinese government also expects and encourages more domestic small and medium-sized enterprises (SMEs), especially private firms, to join hands in the development of the country's renewable energy industry, the vice-minister added.
He believes there is enough room for both foreign and domestic companies in the huge renewable energy sector.
The Chinese mainland has abundant renewable energy resources.
China generates much lower levels of greenhouse gases than developed countries, but treats the issue seriously and spares no effort to cut carbon dioxide emissions by enhancing energy efficiency and developing renewable energy, Chen pointed out.
Setting a specific target for renewable energy development is part of the country's commitment to saving energy and cutting emissions, he noted.
Incentives to go green
"We will adopt measures to guide and encourage the development of renewable energy. We will come up with various taxation and fiscal incentives, including subsidies and tax breaks," Vice-Minister Chen said.
The preferential policies will ensure equal treatment for all companies, whether private or State-owned, he promised.
Meanwhile China will continue to develop liquid biological fuel under the precondition of ensuring food security, said Chen.
The nation will not encourage the use of corn as bio-fuel raw material but turn to non-food crops, such as sweet potato and sorghum, to produce liquid bio-fuel, including ethanol and bio-diesel.
Most of such non-food crops grow in saline and barren lands that are unsuitable for growing grain, he said.
It is common practice around the world to produce bio-ethanol from corn; the United States annually produces 15 million tons of bio-ethanol from the crop, and has therefore increased corn output but decreased land area for growing soybean.
"In view of the per capita area of China's farmland, such a process is not suitable for the country," Chen said.
On the Chinese mainland, there are four facilities annually producing 1.02 million tons of bio-ethanol with long-preserved grain that has become inedible, he said.
"We will require real estate developers to install solar power equipment in their projects in the coming years to reduce energy consumption. And large State-owned energy enterprises will have quotas for investment in the development of renewable energy," the vice minister added.
Industrial analysts have said that most of the required two trillion yuan investment by 2020 will come from the market, with only a small proportion coming from the government.
As long as there are favorable government policies, market investment will support the development of renewable energy, analysts say.
Market-oriented preferential policies may include setting higher prices for electricity generated by renewable energy.
Hydropower and wind power are priority areas for developing renewable energy, because of the country's vast potential and advanced technology, said Chen.
JA Solar Extends Wafer Supply Agreement With ReneSola; Terminates Agreement With Former PowerLight Corporation
September 14, 2007: 07:36 AM EST
HEBEI, China, Sept. 14, 2007 (PRIME NEWSWIRE) -- JA Solar Holdings Co., Ltd. ("JA Solar," "the Company") (Nasdaq:JASO) today announced that it has extended its wafer supply agreement with ReneSola Ltd. ("ReneSola") (LSE:SOLA). Under the new agreement, ReneSola will supply an additional 60MW of wafers to JingAo Solar Co., Ltd. ("JingAo"), the wholly-owned operating subsidiary of JA Solar, from 2008 to 2010.
Samuel Yang, Chief Executive Officer of JA Solar said, "This latest agreement is in line with our growth plans and continued efforts to meet customer demand. The agreement builds on our existing relationship with ReneSola, and further strengthens our supply chain."
Separately, JA Solar announced that SunPower Corporation, Systems ("SP Systems"), a subsidiary of SunPower Corporation ("SunPower") that was formerly known as PowerLight Corporation, and JingAo agreed to terminate, effective as of September 12, 2007, their Contract for the Delivery of Solar Cells (the "Agreement"), dated January 12, 2007. The Agreement was a three-year supply contract providing the general terms and conditions pursuant to which JingAo would supply SP Systems with up to 120 megawatts of silicon solar cells beginning in 2007. However, the parties have determined that an unanticipated quality problem with respect to metallurgical grade polysilicon could not be resolved in the near term. In addition, the Agreement provided pricing terms through only June 2007 and required the parties to renegotiate thereafter, but the parties have not reached any further agreement regarding pricing. Under the Agreement, if the parties do not agree on pricing terms after June 2007, JingAo is not obligated to sell and SP Systems is not obligated to purchase additional solar cells. As a result of the unresolved quality problems with respect to metallurgical grade polysilicon and unresolved pricing terms, the parties have agreed that it is mutually beneficial to terminate the Agreement. Termination of this agreement is not expected to have a material impact on JA Solar's 2007 or 2008 revenues or earnings.
About JA Solar Holdings Co., Ltd.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing manufacturer of high-performance monocrystalline solar cells. The Company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.
HEBEI, China, Sept. 14, 2007 (PRIME NEWSWIRE) -- JA Solar Holdings Co., Ltd. ("JA Solar," "the Company") (Nasdaq:JASO) today announced that it has extended its wafer supply agreement with ReneSola Ltd. ("ReneSola") (LSE:SOLA). Under the new agreement, ReneSola will supply an additional 60MW of wafers to JingAo Solar Co., Ltd. ("JingAo"), the wholly-owned operating subsidiary of JA Solar, from 2008 to 2010.
Samuel Yang, Chief Executive Officer of JA Solar said, "This latest agreement is in line with our growth plans and continued efforts to meet customer demand. The agreement builds on our existing relationship with ReneSola, and further strengthens our supply chain."
Separately, JA Solar announced that SunPower Corporation, Systems ("SP Systems"), a subsidiary of SunPower Corporation ("SunPower") that was formerly known as PowerLight Corporation, and JingAo agreed to terminate, effective as of September 12, 2007, their Contract for the Delivery of Solar Cells (the "Agreement"), dated January 12, 2007. The Agreement was a three-year supply contract providing the general terms and conditions pursuant to which JingAo would supply SP Systems with up to 120 megawatts of silicon solar cells beginning in 2007. However, the parties have determined that an unanticipated quality problem with respect to metallurgical grade polysilicon could not be resolved in the near term. In addition, the Agreement provided pricing terms through only June 2007 and required the parties to renegotiate thereafter, but the parties have not reached any further agreement regarding pricing. Under the Agreement, if the parties do not agree on pricing terms after June 2007, JingAo is not obligated to sell and SP Systems is not obligated to purchase additional solar cells. As a result of the unresolved quality problems with respect to metallurgical grade polysilicon and unresolved pricing terms, the parties have agreed that it is mutually beneficial to terminate the Agreement. Termination of this agreement is not expected to have a material impact on JA Solar's 2007 or 2008 revenues or earnings.
About JA Solar Holdings Co., Ltd.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing manufacturer of high-performance monocrystalline solar cells. The Company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.
Subscribe to:
Posts (Atom)
