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SFCE Aug 13
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SFCE Becomes Majority Stakeholder After Announcing Acquisition of Suniva, America's High-End Solar Manufacturer
Aug 13, 2015 | PR Newswire
Shunfeng International Clean Energy ("SFCE" or the "Company", and HK stock code: 1165) announced today that the company has entered into an agreement to acquire a majority share of Suniva Inc., a leading American manufacturer of high-efficiency, cost-competitive PV solar cells and modules. SFCE will acquire 63.13% equity interest in ... -
Suniva to Increase U.S. Manufacturing Capacity to Over 400MW
Aug 12, 2015 | BusinessWire
Suniva, Inc., a U.S. manufacturer of high-efficiency crystalline silicon solar cells and modules, today announced that it has initiated expansion of its U.S. manufacturing capacity, bringing its U.S. total to over 400MW. This expansion is facilitated by the acquisition of a 63.13% share of Suniva by leading global integrated clean energy provider... -
Shunfeng takes majority stake in U.S. solar manufacturer Suniva
Aug 12, 2015 | Reuters
By Nichola Groom
Aug 12 Shunfeng International Clean Energy Ltd said it will take a majority stake in U.S. solar panel manufacturer Suniva to gain a foothold in the fast-growing U.S. solar market. The deal will give the Hong Kong-based solar company 63 percent of Suniva, a privately held maker... -
Solar Billionaire-Backed Shunfeng Buys Majority Share of Suniva
Aug 13, 2015 | Bloomberg
By Ehren Goossens
Shunfeng International Clean Energy Ltd., the Hong Kong-based solar company controlled by billionaire Zheng Jianming, agreed to acquire a majority share of U.S. solar manufacturer Suniva for $57.8 million. Shunfeng intends to integrate Suniva’s high-efficiency products into its own and expand into the U.S.... -
Breaking: Shunfeng Acquires Majority Stake in US Solar Manufacturer Suniva For $57 Million
Aug 12, 2015 | Greentech Media
By Eric Wesoff
Shunfeng International Clean Energy (SFCE), the owner of 2012's largest solar company, Suntech, is now a 63 percent stakeholder in high-efficiency solar cell and module firm Suniva. Shunfeng joins Suniva investors NEA, Goldman Sachs, Warburg-Pincus, and Prelude Ventures. -
Shunfeng acquires majority stake in Suniva for US$57.8 million
Aug 13, 2015 | PV Tech
By Tom Kenning
Clean energy firm and PV developer Shunfeng International Clean Energy (SFCE) has acquired a majority stake (63.13%) in US-based solar cell and module manufacturer Suniva with an investment of US$57.76 million. Shunfeng, which owns module manufacturer Wuxi Suntech, will make a cash contribution of US$12 million ... -
Shunfeng to buy 63% stake in Suniva
Aug 13, 2015 | Recharge
By Brian Publicover
Hong Kong-based Shunfeng International Clean Energy (SFCE) has revealed plans to jump into the US solar market by purchasing a majority stake in PV module manufacturer Suniva. The ambitious Chinese group — which has aggressively acquired a wide range of companies over the past year — will pay $57.76m for a 63.13% stake in... -
Suniva to expand US manufacturing capacity on back of $57 million Shunfeng acquisition
Aug 13, 2015 | PV Magazine
By Becky Beetz
Suniva will increase its U.S. solar manufacturing capacity to 400 MW following an injection of US$57.7 million by China’s Shunfeng International Clean Energy, which yesterday announced a 63% stake in the U.S. company. A ramp up to 1 GW is on the cards, according to reports, however. -
Shunfeng to take control of US module maker Suniva
Aug 13, 2015 | See News Renewables
By Ivan Shumkov
August 13 (SeeNews) - Shunfeng International Clean Energy Ltd (HKG:1165), or SFCE, said on Wednesday it will buy a 63.13% stake in crystalline silicon solar cells and modules maker Suniva Inc and thus enter “the premium and more profitable” US market. -
Suniva to increase U.S. PV manufacturing capacity to over 400 MW; Shunfeng acquires majority share
Aug 13, 2015 | SolarServer
Suniva Inc. (Norcross, Georgia, U.S.), a manufacturer of crystalline silicon solar photovoltaic (PV) cells and modules, on August 12th, 2015 announced that it has initiated the expansion of its manufacturing capacity to a total of over 400 MW. This expansion is facilitated by the acquisition of a 63.13%... -
SFCE set to acquire majority stake in Suniva
Aug 13, 2015 | Greentech Lead
By Ajith Kumar S
Shunfeng International Clean Energy (SFCE) is set to acquire majority share of Suniva, an American manufacturer of solar photovoltaic cells and modules. Under the agreement signed by the companies, SFCE is to acquire 63.13 percent equity interest in Suniva. SFCE CEO Eric Luo says: “Our partnership with Suniva will strengthen our global -
Solar panels piloted in China
Aug 13, 2015 | ReNews
Shunfeng International Clean Energy has signed an agreement with the municipal government of Luoyang that will see solar panels installed in the Henan province of China. Developer SFCE will pilot solar panels and energy-efficiency equipment for commercial, industrial and residential buildings as well as transport systems. -
meteoconrol to provide monitoring and control systems to Zonergy’s projected multi-MW PV plant in Pakistan
Aug 12, 2015 | SolarServer
meteocontrol China, a subsidiary of Shunfeng International Clean Energy (Hong Kong, China), on August 11th, 2015 announced that it will provide integrated remote control systems to Zonergy Company Ltd.'s (Beijing China) soon to be completed phase one 100 MW solar photovoltaic (PV) power plant in Punjab, Pakistan. -
Why Green Energy Execs Don't Fear Falling Oil Prices
Aug 12, 2015 | The Huffington Post
By Alexander C. Kaufman
Investors are sweating over falling oil prices. Renewable energy executives, somewhat counterintuitively, are keeping their cool. West Texas Intermediate crude oil fell to a six-year low of $43 per barrel on Tuesday. That's getting pretty close to the $40 figure DoubleLine Capital founder Jeffrey Gundlach ... -
Can California turn the West green?
Aug 12, 2015 | The Sacramento Bee
By Dan Morain
California’s leaders quickly saluted last week when President Barack Obama released his Clean Power Plan, a 1,500-page proposal that would dramatically reduce the nation’s dependence on coal. We’re already there, or at least we think we are. At the Legislature’s urging, California’s private utilities have weaned themselves from coal, and... -
Community solar project to sell renewable energy
Aug 13, 2015 | AP (in the Washington Times)
A community solar project outside Kalispell will allow residents to purchase renewable energy without installing their own solar panels. The Flathead Beacon reports (http://bit.ly/1Ns0FBk ) that Flathead Electric Cooperative’s new Solar Utility Network should be running next month, giving members the ability to lower their electricity bills ... -
UN climate expert warns Australia's emissions target should not be final offer
Aug 13, 2015 | The Syndey Morning Herald
By Nicole Hasham
Australia should not attend global talks in Paris refusing to budge on its greenhouse gas emission pledge, the UN's scientific body on climate change has said, ahead of expected international pressure on the Abbott government to do better. Debate over the controversial climate policy continued... -
Afghanistan Eyes Indian Companies To Develop Renewable Energy Projects
Aug 13, 2015 | Clean Technica
By Smiti Mittal
Afghanistan is looking to enhance cooperation with India to develop its renewable energy sector and reduce its dependence upon imported energy. The Afghanistan Government has invited Indian companies to set up renewable energy projects in the war-torn country to increase electrification in its remote regions.
Press Release - SFCE Becomes Majority Stakeholder After Announcing Acquisition of Suniva, America's High-End Solar Manufacturer
SFCE/Suniva News
SFCE News
Meteocontrol News
Industry News
Full Text of Stories Below
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Aug 13, 2015 | PR Newswire
Shunfeng International Clean Energy ("SFCE" or the "Company", and HK stock code: 1165) announced today that the company has entered into an agreement to acquire a majority share of Suniva Inc., a leading American manufacturer of high-efficiency, cost-competitive PV solar cells and modules. SFCE will acquire 63.13% equity interest in Suniva, marking yet another milestone for the HSKE listed company as it enters into the premium and more profitable U.S. market.
Shunfeng International Clean Energy is a global leading clean energy technology company and an integrated service solutions provider. Since 2014, the company has accelerated its strategic investments and partnerships in its mission to create the world's largest portfolio of clean technologies and applications, with a platform capable of providing comprehensive clean energy solutions.
"As clean energy continues to be a prevalent global issue, SFCE's vision to reshape the clean energy sector through affordable and accessible alternatives to traditional energy sources has become even more important. We welcome the Obama administration's initiative and stringent emissions cuts in the power sector, and envisage that there will be a strong demand for clean energy alternatives and solutions across all business sectors," explains SFCE CEO, Eric Luo. "Our strategic partnership with Suniva will further strengthen SFCE's global position as an affordable, high efficiency manufacturer, while providing SFCE with US market access. Thanks to Suniva's renowned PV scientists and manufacturing experts, coupled with a leadership team of seasoned high-tech industry veterans, Suniva has built cutting edge solar technologies. Suniva holds a solid track record of delivering high efficiency solar cells and high-power modules, while reducing the cost of the PV value chain. We welcome Suniva to the SFCE family."
Suniva is known worldwide for their high-performance, high-quality solar cells and modules, along with its long-term reliable performance. Since its inception in 2007, Suniva has led the industry in high-performance, affordable cells and modules, supporting residential, commercial, and micro-utility projects with their high-end products.
Suniva's Chairman and CEO John Baumstark says, "We are very pleased to form this partnership with SFCE. To have an industry leader, such as SFCE, invest in Suniva validates the quality of our products and technology. As part of a shared strategy, we believe in the importance of having a strong U.S. manufacturer serve the U.S. market. We are excited to collaborate with SFCE's vast portfolio of companies and integrated solutions to enhance products, services, and production capacity to our current customers and to attract a stronger customer base. The U.S. solar industry will see a significant return on this global investment – as Suniva is pleased to announce our plans for the expansion of our U.S. production. We look to increase our manufacturing capacity to over 400MW within the next 12 months, while simultaneously bringing meaningful job growth in the United States."
About SFCE
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the largest low-carbon, integrated, clean energy generation provider globally. Through strategic acquisitions and integration, SFCE owns a number of well-known product and technology brands in the industry. SFCE fosters a continuous improvement in energy generation including in solar, sea water power and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households. SFCE's energy solutions can achieve energy cost reductions of 50% - 70%, creating energy generation choices for its customers to reduce both carbon emissions and energy costs. To learn more about the company, please visit www.sfcegroup.com.
About Suniva
Suniva® is the leading American manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells and high-power solar modules. The company is known for its high-quality products, industry-leading technology, reliability and high power density. Headquartered in metro-Atlanta, Georgia, and with manufacturing facilities inGeorgia and Michigan, Suniva sells its advanced PV cells and modules globally. For additional information on how Suniva is making solar sensible, visit www.suniva.com.
PR Newswire (English) Link: http://en.prnasia.com/story/archive/1474868_EN74868_0
PR Newswire (Chinese) Link: http://www.prnasia.com/story/archive/1474868_ZH74868_1
The Jakarta Post: http://prnw.cbe.thejakartapost.com/news/2015/sfce-becomes-majority-stakeholder-after-announcing-acquisition-of-suniva-americas-high-end-solar-manufacturer-2.html
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Suniva to Increase U.S. Manufacturing Capacity to Over 400MW
Aug 12, 2015 | BusinessWire
Suniva, Inc., a U.S. manufacturer of high-efficiency crystalline silicon solar cells and modules, today announced that it has initiated expansion of its U.S. manufacturing capacity, bringing its U.S. total to over 400MW. This expansion is facilitated by the acquisition of a 63.13% share of Suniva by leading global integrated clean energy provider, Shunfeng International Clean Energy (“SFCE”, Hong Kong-listed (stock code: 1165)).
“High demand for our products continues to validate that as the U.S. solar market matures, sophisticated buyers are increasingly valuing power density and quality,” said John Baumstark, chairman and chief executive officer of Suniva.
“This expansion was encouraged by the U.S. market’s interest in high-quality, high-value American-made solar products.”
Suniva’s continued growth further strengthens its position as the leading American solar manufacturer. As a U.S.-born, U.S.-operated company, Suniva prides itself on its role of American job creation. Suniva employs the highest percentage of American workers among all other major solar module manufacturers. The new expansion will bring an additional 300 jobs to the U.S. solar manufacturing landscape.
SFCE with technology and manufacturing assets and subsidiaries in the United States, Europe, and Asia, joins a roster of shareholders, including New Enterprise Associates (NEA), Goldman Sachs, Warburg-Pincus, and Prelude Ventures. These shareholders represent one of the most financially-strong ownership teams in the renewable energy industry.
“Developing cost-effective, high-efficiency solar solutions is an essential step in solving the world's energy challenges," said Mr. Eric Luo, chief executive officer of SFCE. “Suniva manufactures the best of American solar innovation, technology, and quality. We are excited to welcome Suniva into the SFCE family, along with its high quality investor group and management team, and work with Suniva to achieve its full potential in serving the U.S. solar market.”
For more information, visit www.suniva.com.
About Suniva
Suniva® is the leading American manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells and high-power solar modules. The company is known for its high-quality products, industry-leading technology, reliability and high power density. Headquartered in metro-Atlanta, Georgia, and with manufacturing facilities in Georgia and Michigan, Suniva sells its advanced PV cells and modules globally. For additional information on how Suniva is making solar sensible, visitwww.suniva.com.
About Shunfeng International Clean Energy Limited
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the largest low-carbon, integrated, clean energy generation provider globally. Through strategic acquisitions and integrations, SFCE owns a number of well-known product and technology brands in the industry. SFCE fosters continuous improvement in energy generation including in solar, sea water power and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households. SFCE's energy solutions can achieve energy cost reductions of 50% - 70%, creating energy generation choices for its customers to reduce both carbon emissions and energy costs.
BusinessWire Link: http://www.businesswire.com/news/home/20150812006419/en/Suniva-Increase-U.S.-Manufacturing-Capacity-400MW#.VcwszPmqqkp
Market Watch: http://www.marketwatch.com/story/suniva-to-increase-us-manufacturing-capacity-to-over-400mw-2015-08-12
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Shunfeng takes majority stake in U.S. solar manufacturer Suniva
Aug 12, 2015 | Reuters
By Nichola Groom
Aug 12 Shunfeng International Clean Energy Ltd said it will take a majority stake in U.S. solar panel manufacturer Suniva to gain a foothold in the fast-growing U.S. solar market.
The deal will give the Hong Kong-based solar company 63 percent of Suniva, a privately held maker of solar cells and modules whose investors include Goldman Sachs Group Inc. Terms of the deal were not disclosed.
The U.S. solar market is expected to grow by a third this year, and by investing in U.S. manufacturing Shunfeng can avoid U.S. government tariffs on Chinese-made solar panels.
"The U.S. market is the second largest solar market in the world and should be for the forseeable future," Suniva Chief Executive John Baumstark said in an interview. "It made abundant sense to invest in U.S. manufacturing and have local content for local markets."
With Shunfeng's investment, Suniva will more than double its manufacturing to 400 megawatts of solar cells and modules over the next year, according to Baumstark. The company currently manufactures about 150 MW in Georgia and Michigan.
It did not disclose the location of its new manufacturing capacity, but said the expansion will create 300 jobs. Suniva currently employs 350 people.
Suniva, which is based in Atlanta, moved all of its solar panel assembly to the United States from Asia over the last two years. By making panels at home, Suniva has been able to capture lucrative federal contracts, avoid tariffs and appeal to private sector customers who want American-made products.
Founded in 2007 by solar scientists from the Georgia Institute of Technology, Suniva has grown rapidly. While the company doesn't disclose its financials, a federal contract from 2014 said Suniva had $93 million in annual revenue.
The company's panels generate more electricity from the sun than typical Chinese-made panels, and they therefore command a premium price in the market.
Goldman Sachs as well as Suniva's other investors - Warburg Pincus, New Enterprise Associates, Prelude Ventures and H.I.G. Ventures - will continue to hold stakes in the company.
Link: http://www.reuters.com/article/2015/08/13/suniva-ma-shunfeng-idUSL1N10N2X620150813
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Solar Billionaire-Backed Shunfeng Buys Majority Share of Suniva
Aug 13, 2015 | Bloomberg
By Ehren Goossens
Shunfeng International Clean Energy Ltd., the Hong Kong-based solar company controlled by billionaire Zheng Jianming, agreed to acquire a majority share of U.S. solar manufacturer Suniva for $57.8 million.
Shunfeng intends to integrate Suniva’s high-efficiency products into its own and expand into the U.S. market, the Changzhou, China-based company said Thursday in a statement announcing the deal.
The company, which will own 64 percent of Suniva, has been expanding production capacity as it seeks to become the world’s biggest renewable energy provider, including the portfolio of companies owned by its parent, Asia Pacific Resources Development Investment Ltd.
“We wanted something that could move quickly and maintain the U.S. brand,” Chief Executive Officer Eric Luo said in an interview. “The U.S. has always been considered a strategic market.”
After the acquisition, both sides have agreed to expand Suniva to 1 gigawatt in capacity, Luo said. He sees the U.S. market growing to 7 gigawatts to 8 gigawatts a year, up from 6.2 gigawatts last year.
In June, Luo said the company was considering an acquisition in North America to expand the solar production capacity of its Wuxi Suntech Power Co. unit. Suniva has a factory to produce solar cells and modules at its headquarters in Norcross, Georgia, and opened a new factory in Saginaw Township, Michigan.Overseas Expansion
With the acquisition, Shunfeng gains a foothold in the U.S. without being subject to thetariffs and duties imposed on solar panels and cells made in China, said Jade Jones, analyst at GTM Research in San Francisco. “It will help the company penetrate the U.S. market in a way that it doesn’t have access to now.”
Other solar manufacturers are opening sites overseas to avoid U.S. trade barriers. Trina Solar Ltd., the world’s largest solar panel manufacturer, is building a plant in Thailandand JinkoSolar Holding Co. opened one in Malaysia.
The portfolio of Shunfeng’s parent includes energy storage companies Boston Power and Powin Energy, electric vehicle maker GreenWheel EV and light-emitting diode chip maker Lattice Power Corp. Lattice joined a group of investors that bought 80 percent of Royal Philips NV’s LED light bulb business in April.
Zheng, is a Hong Kong property tycoon who has built a group of Chinese solar manufacturing assets worth about $20 billion.
Suniva’s current investors will retain ownership in the company, including Warburg Pincus, New Enterprise Associates Inc., Goldman Sachs Group Inc.
Link: http://www.bloomberg.com/news/articles/2015-08-13/solar-billionaire-backed-shunfeng-buys-majority-share-of-suniva
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Breaking: Shunfeng Acquires Majority Stake in US Solar Manufacturer Suniva For $57 Million
Aug 12, 2015 | Greentech Media
By Eric Wesoff
Shunfeng International Clean Energy (SFCE), the owner of 2012's largest solar company, Suntech, is now a 63 percent stakeholder in high-efficiency solar cell and module firm Suniva. Shunfeng joins Suniva investors NEA, Goldman Sachs, Warburg-Pincus, and Prelude Ventures.
According to a Hong Kong exchange document, "The Consideration is US$57,760,000, which is to be settled as follows:(a) the Company shall make the Cash Contribution of US$12,000,000 upon Completion;(b) for the remaining portion of the Consideration, the Company shall allot and issue 70,928,000 new Shares at the Issue Price to the Participating Stockholders."
Suniva lost $15 million in 2014, less than the $44 million it lost in 2013, according to the same document.
According to GTM Research's PV Pulse and GTM solar analyst Jade Jones, Suniva is the No. 2 U.S. c-Si manufacturer in terms of total capacity. The investment by SFCE will allow Suniva to expand its capacity to over 400 megawatts.
SFCE has the now viable Suntech manufacturing under its roof as well as ground source heat pumps, PV inverters, energy management and battery storage capabilities, all gained through acquisition. The company has a market cap of approximately $1 billion on the Hong Kong stock exchange.
The once bankrupt Suntech is now thriving with business in China -- but it can't ship to the U.S.
GTM's Jones notes that "Suntech's new anti-dumping tariff rate is 33.08 percent and has a separate countervailing duty of 20.94 percent. That's a cumulative duty of 54.02 percent, which is higher than most major manufacturers (Yingli at 21.7 percent, most others at 30.61 percent). Shunfeng, the original company majority producing cells, can't use Suntech's brand in the U.S. [if they want to be competitive]"
Jones suggests that "Suniva gives them that opportunity."
Matt Card VP of global sales and marketing spoke with GTM today, a few hours after the deal was signed.
Card suggested that the "power dense" product from Suniva (with cell efficiencies hitting 21 percent and power ratings up to 330 watts) is best suited for residential, commercial & industrial, and what he called "micro-utility" scale up to 15 megawatts. Card pointed out the advantage of American-made solar modules when it comes to government procurement.
Suniva claims that it "employs the highest percentage of American workers among all other major solar module manufacturers." The expansion is supposed to create 300 jobs.
U.S. module manufacturing capacity is now on track to surpass 3.5 gigawatts by 2018, up from 1.6 gigawatts today. Cell manufacturing capacity could increase to 2 gigawatts, up from 0.7 gigawatts, over the same period, according to GTM Research's PV Pulse.
Link: http://www.greentechmedia.com/articles/read/Breaking-Shunfeng-Acquires-Majority-Stake-in-US-Solar-Manufacturer-Suniva
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Shunfeng acquires majority stake in Suniva for US$57.8 million
Aug 13, 2015 | PV Tech
By Tom Kenning
Clean energy firm and PV developer Shunfeng International Clean Energy (SFCE) has acquired a majority stake (63.13%) in US-based solar cell and module manufacturer Suniva with an investment of US$57.76 million.
Shunfeng, which owns module manufacturer Wuxi Suntech, will make a cash contribution of US$12 million to Suniva with the remainder of the US$58 million to be settled through the issuance of more than 70 million shares.
An SFCE spokesperson told PV Tech that the cash and shares would be used for "US market expansion”.
In a filing on the Hong Kong stock exchange, Shunfeng said the acquisition “could further strengthen the company’s global position in high efficiency cells manufacturing at affordable costs, and more importantly enable the company to reap the huge potentials of the solar market in the United States”.
In July 2014, Suniva announced it would expand its US manufacturing capacity by 200MW. Suniva today announced it had started this same expansion, and targets a total capacity of 400MW. The SFCE spokesperson said the expansion would involve cells and modules.
Finlay Colville, head of Solar Intelligence at PV Tech’s publisher Solar Media, said: “Suniva has been somewhat of an anomaly since its formation, largely focusing on domestic module supply, and being one of the few cell makers to have production within the US. While the injection of funds from China may appear to be good news, when this will really materialise and in what format, remains to be seen.”
Colville added that Shunfeng’s strategy regarding the US market was interesting, given that peers across Asia, including c-Si manufacturers in Korea and Southeast Asia have amassed enough supply deals with US installers and EPCs in the past 12-18 months to not need to look into US-based manufacturing facilities.
Shunfeng’s annual report for the year ended 31 December 2014, said that the company sold 645MW modules globally, but just 26.1% of the company's total revenue was from overseas.
Colville said: “Whether Shunfeng's approach is successful will ultimately take much more than accessing domestic manufacturing facilities or indeed adding new capacity. Whether Shunfeng can secure volume business supply is yet to be seen, a situation that may confine deliveries to regional one-off deals on a case-by-case basis.”
However, John Baumstark, chairman and chief executive officer of Suniva, said: “This expansion was encouraged by the US market’s interest in high-quality, high-value American-made solar products.”
The Hong Kong stock exchange filing also said that Suniva had a net loss after taxation of US$44.4 million in 2013, which was followed by a net loss of US$15.5 million in 2014. Meanwhile the audited total asset value of Suniva as at 31 December 2014 was around US$74.6 million.
Link: http://www.pv-tech.org/news/shunfeng_acquires_majority_stake_in_suniva_for_us57.8_million
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Shunfeng to buy 63% stake in Suniva
Aug 13, 2015 | Recharge
By Brian Publicover
Hong Kong-based Shunfeng International Clean Energy (SFCE) has revealed plans to jump into the US solar market by purchasing a majority stake in PV module manufacturer Suniva.
The ambitious Chinese group — which has aggressively acquired a wide range of companies over the past year — will pay $57.76m for a 63.13% stake in Atlanta-based Suniva.
The acquisition will give SFCE a chance to “reap the huge potential” of the US solar market and “strengthen the company’s global position” in the production of low-cost, high efficiency PV cells, according to a statement to the Hong Kong stock exchange.
Suniva will become a non-wholly owned subsidiary of SFCE.
In a separate statement, Suniva unveiled plans to expand its production capacity from 150MW to more than 400MW.
The planned output expansion will create new 300 jobs, it said.
The company currently operates factories in the US states of Georgia and Michigan.
In late July, SFCE canceled plans to invest $71m in a 723MW portfolio of wind farms in China. It scrapped the deal — which would have marked its initial foray into the wind sector — because a number of key conditions had not been met.
Link: http://www.rechargenews.com/solar/1408580/shunfeng-to-buy-63-percent-stake-in-suniva
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Suniva to expand US manufacturing capacity on back of $57 million Shunfeng acquisition
Aug 13, 2015 | PV Magazine
By Becky Beetz
Suniva will increase its U.S. solar manufacturing capacity to 400 MW following an injection of US$57.7 million by China’s Shunfeng International Clean Energy, which yesterday announced a 63% stake in the U.S. company. A ramp up to 1 GW is on the cards, according to reports, however.
Following the news that Suntech owner, Shunfeng will acquire a 63.13% stake in high efficiency crystalline silicon cell and module manufacturer, Suniva for $57.8 million, Suniva has said it will increase its U.S. manufacturing capacity to over 400 MW on the back of high demand, thus creating 300 new jobs.
"High demand for our products continues to validate that as the U.S. solar market matures, sophisticated buyers are increasingly valuing power density and quality," stated John Baumstark, chairman and CEO of Suniva. "This expansion was encouraged by the U.S. market’s interest in high quality, high-value American-made solar products."
The ramp up represents an increase of just 30 MW, with current manufacturing capacity sitting at around 370 MW. Bloomberg reports, however, both parties have agreed that Suniva will increase manufacturing capacity to 1 GW.
In an interview with Bloomberg, Shunfeng CEO, Eric Luo, added, "We wanted something that could move quickly and maintain the U.S. brand. The U.S. has always been considered a strategic market." He believes the country's solar market will grow from 6.2 GW in 2014, to 7 to 8 GW a year.
The acquisition
According to documents filed with the Hong Kong Stock Exchange, Shunfeng will pay $12 million of the $57.8 million in cash to Suniva, with the remaining issued as shares (around 70 million). The acquisition will present the Chinese giant the opportunity "to reap the huge potentials of the solar market in the United States." The possibility to enter America without facing trade tariffs will have also made Suniva an attractive target.
Shunfeng further explained the U.S. manufacturer was a valuable acquisition, due to its "cutting-edge technology in high conversion efficiency cells manufacturing and a solid track record to deliver high-power solar cells and modules while reducing the cost of the photovoltaics value chain," adding that its 19% conversion efficiencies render it the "world’s highest commercially-available cell efficiencies using low manufacturing costs."
In November 2008, Suniva completed its first 38 MW manufacturing line. It added a further 64 MW, which were completed in 2009. A year later, the company increased its 96 MW capacity to 170. Late last year, it bumped this up to around 370.
In the documents filed by Shunfeng, Suniva had a net loss (after taxation) of $44.4 million in 2013. This improved the following year, in 2014, to a loss of $15.5 million. The Chinese company further calculates assets totaling $74.6 million as of December 31, 2014.
Aside from Shunfeng, other shareholders in the company include Goldman Sachs, New Enterprise Associates, Warburg-Pincus and Prelude Ventures.
Link: http://www.pv-magazine.com/news/details/archive/2015/august/beitrag/suniva-to-expand-us-manufacturing-capacity-on-back-of-57-million-shunfeng-acquisition_100020585/#axzz3ihZPT5Q5
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Shunfeng to take control of US module maker Suniva
Aug 13, 2015 | See News Renewables
By Ivan Shumkov
August 13 (SeeNews) - Shunfeng International Clean Energy Ltd (HKG:1165), or SFCE, said on Wednesday it will buy a 63.13% stake in crystalline silicon solar cells and modules maker Suniva Inc and thus enter “the premium and more profitable” US market.
The Chinese clean energy technology company, previously known as Shunfeng Photovoltaic International, will pay about USD 57.8 million (EUR 52m) in cash and stock for the shares of Suniva.
With its investment, Shunfeng will facilitate an expansion of Suniva’s annual production capacity to over 400 MW within the next 12 months. The US company announced the start of the expansion project in a separate statement, saying that it will create 300 job positions.
"Our strategic partnership with Suniva will further strengthen SFCE's global position as an affordable, high efficiency manufacturer, while providing SFCE with US market access,” said Eric Luo, CEO of SFCE.
Suniva’s existing investors include New Enterprise Associates (NEA), Goldman Sachs, Warburg-Pincus and Prelude Ventures.
Link: http://renewables.seenews.com/news/shunfeng-to-take-control-of-us-module-maker-suniva-488269
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Suniva to increase U.S. PV manufacturing capacity to over 400 MW; Shunfeng acquires majority share
Aug 13, 2015 | SolarServer
Suniva Inc. (Norcross, Georgia, U.S.), a manufacturer of crystalline silicon solar photovoltaic (PV) cells and modules, on August 12th, 2015 announced that it has initiated the expansion of its manufacturing capacity to a total of over 400 MW.
This expansion is facilitated by the acquisition of a 63.13% share of Suniva by leading global integrated clean energy provider, Shunfeng International Clean Energy (SFCE, Hong Kong).
“High demand for our products continues to validate that as the U.S. solar market matures, sophisticated buyers are increasingly valuing power density and quality,” said John Baumstark, chairman and chief executive officer of Suniva.
“This expansion was encouraged by the U.S. market’s interest in high-quality, high-value American-made solar products.”
Suniva prides itself on its role of American job creation
Suniva’s continued growth further strengthens its position as a leading American solar manufacturer. As a U.S.-born, U.S.-operated company, Suniva prides itself on its role of American job creation. Suniva, on account, employs the highest percentage of American workers among all other major solar module manufacturers. The new expansion will bring an additional 300 jobs to the U.S. solar manufacturing landscape, the company emphasizes.
SFCE with technology and manufacturing assets and subsidiaries in the United States, Europe, and Asia, joins a roster of shareholders, including New Enterprise Associates (NEA), Goldman Sachs, Warburg-Pincus, and Prelude Ventures. These shareholders represent one of the most financially-strong ownership teams in the renewable energy industry.
“Developing cost-effective, high-efficiency solar solutions is an essential step in solving the world's energy challenges," said Eric Luo, chief executive officer of SFCE.
“Suniva manufactures the best of American solar innovation, technology, and quality. We are excited to welcome Suniva into the SFCE family, along with its high quality investor group and management team, and work with Suniva to achieve its full potential in serving the U.S. solar market.”
SolarServer (English) Link: http://www.solarserver.com/solar-magazine/solar-news/current/2015/kw33/suniva-to-increase-us-pv-manufacturing-capacity-to-over-400-mw-shunfeng-acquires-majority-share.html
SolarServer (German): http://www.solarserver.de/solar-magazin/nachrichten/aktuelles/2015/kw33/suniva-will-photovoltaik-produktion-in-den-usa-auf-ueber-400-mw-ausbauen-shunfeng-kauft-mehrheitsanteil.html
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SFCE set to acquire majority stake in Suniva
Aug 13, 2015 | Greentech Lead
By Ajith Kumar S
Shunfeng International Clean Energy (SFCE) is set to acquire majority share of Suniva, an American manufacturer of solar photovoltaic cells and modules.
Under the agreement signed by the companies, SFCE is to acquire 63.13 percent equity interest in Suniva.
SFCE CEO Eric Luo says: “Our partnership with Suniva will strengthen our global position as manufacturer of affordable, high-efficiency solar panels while also providing the company with access to the US market.”
Suniva’s Chairman and CEO John Baumstark says the company was looking at increasing its manufacturing capacity to more than 400MW within the next 12 months, “while simultaneously bringing meaningful job growth in the United States”.
According to the statement, energy solutions of SFCE can achieve reduction in energy cost in the 50 percent to 70 percent range, creating energy generation choices for its customers to reduce carbon emissions and energy costs.
Link: http://www.greentechlead.com/solar/sfce-set-to-acquire-majority-stake-in-suniva-27445
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Aug 13, 2015 | ReNews
Shunfeng International Clean Energy has signed an agreement with the municipal government of Luoyang that will see solar panels installed in the Henan province of China.
Developer SFCE will pilot solar panels and energy-efficiency equipment for commercial, industrial and residential buildings as well as transport systems.
The initial area of focus will be in Luoyang’s New District and High-tech Development Zone but could expand to the rest of the city later on.
The energy projects include solar power and ground source heat pumps.
Further decarbonisation will target low carbon transport, heating and cooling as well as lighting, for example with LED bulbs.
Work is to be carried out on SFCE’s turnkey model integrating design development, financing, building, operation and maintenance, as well as management.
SFCE has tailored the turnkey plan to fit the EU-China low carbon ecological and integrated urban pilot project, a “broad political initiative” targeting Luoyang and other Chinese cities.
The EC project was launched in March and provides technical assistance.
Link: http://renews.biz/93558/solar-panel-pilot-in-china/
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Aug 12, 2015 | SolarServer
meteocontrol China, a subsidiary of Shunfeng International Clean Energy (Hong Kong, China), on August 11th, 2015 announced that it will provide integrated remote control systems to Zonergy Company Ltd.'s (Beijing China) soon to be completed phase one 100 MW solar photovoltaic (PV) power plant in Punjab, Pakistan.
Upon completion, the ground-mounted PV project will have a generation capacity of 900 MW. The two sides agreed that meteocontrol will provide generation II data acquisition devices, sensor and portal software VCOM, along with associated configuration, commissioning and training services.
900 MW PV project is part of the "China-Pakistan Economic Corridor”
The 900 MW PV terrestrial PV project being constructed by Zonergy, officially agreed upon by the government leaders of China and Pakistan, has been given priority to be completed as part of the "China-Pakistan Economic Corridor," and is an important opening project for the "One Belt, One Road" strategy. The initial 100 MW phase one project will soon be completed.
"It is great pleasure to cooperate with Zonergy to provide professional and efficient solutions and service to the 100 MW phase one project of the 900 MW terrestrial PV power station in Punjab, Pakistan,” said meteocontrol China General Manager Henry Luo.
“This is also an excellent opportunity to deepen bilateral cooperation on smart operation and maintenance management of PV power stations.”
In addition, the two sides reached an agreement that meteocontrol will give priority to provide specialized monitoring as well as operation and maintenance solutions to the overall development plan of Zonergy's PV power station business segment.
"meteocontrol is the market leader for professional PV remote monitoring systems, currently monitoring almost 37,500 PV systems around the globe with total installed capacity of 12 GW. Zonergy and meteocontrol have reached a consensus that we will jointly seize the market opportunities brought by China's ‘One belt, One Road’ strategy, through leveraging meteocontrol's extensive expertise in PV power station operation and maintenance management," said Zonergy Vice President Jacky Jia.
SolarServer (English) Link: http://www.solarserver.com/solar-magazine/solar-news/current/2015/kw33/meteoconrol-to-provide-monitoring-and-control-systems-to-zonergys-projected-multi-mw-pv-plant-in-pakistan.html
SolarServer (German) Link: http://www.solarserver.de/solar-magazin/nachrichten/aktuelles/2015/kw33/meteocontrol-soll-monitoring-und-kontrollsysteme-fuer-ein-photovoltaik-grosskraftwerk-von-zonergy-in-pakistan-liefern.html
The Jakarta Post: http://prnw.cbe.thejakartapost.com/news/2015/meteoconrol-to-provide-remote-monitoring-and-central-control-solutions-to-the-worlds-largest-single-pv-power-station-3.html
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Why Green Energy Execs Don't Fear Falling Oil Prices
Aug 12, 2015 | The Huffington Post
By Alexander C. Kaufman
Investors are sweating over falling oil prices. Renewable energy executives, somewhat counterintuitively, are keeping their cool.
West Texas Intermediate crude oil fell to a six-year low of $43 per barrel on Tuesday. That's getting pretty close to the $40 figure DoubleLine Capital founder Jeffrey Gundlach warned in December would signal that "something is very, very wrong with the world, not just the economy."
But renewable energy executives -- whom you might expect to fear cheap gas, since it could siphon the demand for their solar, wind and other alternatives -- don't seem fazed.
"Oil is largely transportation fuel, and renewables are largely electricity sources that provide power," Brian Warshay, an analyst at Bloomberg New Energy Finance, told The Huffington Post. "They're not really competing against one another in the same energy application."
Just 1 percent of electricity generated in the United States last year came from oil, according to the U.S. Energy Information Administration. That figure has remained unchanged for the past five years. Renewable energy, on the other hand, accounted for 9 percent of U.S. electricity -- nearly doubling from 2010, when it accounted for just 5 percent.
"Renewable executives -- and savvy investors who do renewables, which of course is a growing number of investors -- are pretty sanguine about low oil prices," Jeremy Leggett, chairman of the U.K.-based think tank CarbonTracker, told HuffPost. "Renewables are primarily about electricity, not about motor fuels at the moment."
That is changing, albeit slowly. The electric auto industry has long struggled to gain ground in the U.S., and cheap gas only makes electric cars a harder sell.
Tesla Motors, which has led the charge toward all-electric, battery-powered vehicles, seems set to miss its sales goal for the year. The Nissan Leaf and the BMW i3, the two most popular electric cars after Tesla's Model S, also saw sales slump this year, according to data from the industry site Hybrid Cars.
Meanwhile, sales of gas-guzzling SUVs and pickup trucks have soared this year, despite long-term projections predicting an inevitable rise in oil prices.
"We live in such a short-termist society," Leggett said. "They should look a little bit more than the next few quarters into the future."
Link: http://www.huffingtonpost.com/entry/oil-prices-green-energy_55cb6637e4b0923c12bece98
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Can California turn the West green?
Aug 12, 2015 | The Sacramento Bee
By Dan Morain
California’s leaders quickly saluted last week when President Barack Obama released his Clean Power Plan, a 1,500-page proposal that would dramatically reduce the nation’s dependence on coal.
We’re already there, or at least we think we are.
At the Legislature’s urging, California’s private utilities have weaned themselves from coal, and public power agencies are ending their contracts with out-of-state coal plants.
“I welcome this bold and absolutely necessary carbon reduction plan,” Gov. Jerry Brown said in a statement.
That Brown would praise Obama’s plan is no surprise. This is, after all, the land of cap-and-trade and the heartfelt desire to cut greenhouse gas emissions by 50 percent within 15 years.
Nor did Gov. Matt Mead of Wyoming shock anyone when he called Obama’s Clean Power Plan “scientifically flawed” and warned “it is in fact damaging – not just to Wyoming, but the nation.”
Wyoming is the nation’s largest coal-mining state, responsible for 39 percent of the coal supply. At Mead’s urging, Wyoming is one of 16 states preparing to sue to block Obama’s Clean Power Plan.
And yet the authorities who run the California Independent System Operator, the Folsom-based entity that manages this state’s electricity transmission, are contemplating entering into a joint venture with PacifiCorp, the Portland, Ore.-based utility that supplies electricity to 1.8 million customers in Wyoming, Utah, Idaho, Washington and Oregon.
The proposal offers promises, but raises questions, too. California could lose a measure of independence. So could the other states. Oregon and Washington, blue states that they are, are fine with green energy. But Wyoming, Idaho and Utah are deep red states with voters who are contemptuous of Obama, and the energy policies advocated by him and, for that matter, Jerry Brown.
First, the upside. As California expands its renewable energy production, the state will have surpluses. By becoming part of a Western regional electricity grid, California could seamlessly wheel green power to the other states, helping them reduce their dependence on coal and other fossil fuels.
Next, a complicating factor: Electrons flow both ways. California would export electricity produced by the heavenly sun. But wouldn’t Mead send us electrons that are the devilish spawn of coal?
It won’t happen, say representatives of PacifiCorp and the California Independent System Operator. Because of California’s cap-and-trade program, the state Air Resources Board imposes fees on greenhouse gas producers. Because coal is a major greenhouse gas emitter, coal-produced electricity would be too costly in California.
“Coal is at a significant disadvantage,” said Phil Pettingill, the Cal-ISO official who oversees regional integration.
PacifiCorp mines and burns coal – lots of it. On its website, PacifiCorp says “coal is a valuable resource and fuels 58 percent of the electricity produced by PacifiCorp’s owned generating plants.” All that energy has to go somewhere. If California doesn’t use it, presumably red states would.
None of this is lost on Senate President pro tem Kevin de León, the author of pending legislation, Senate Bill 350, to dramatically cut greenhouse gas emissions.
“Regional energy markets can be a good thing if they don’t weaken California’s clean power program,” de León said. “It cannot – cannot – weaken our strong energy policies so that all of sudden we’re getting dirty coal. … I’ll be watching like a hawk.”
De León is carrying another bill, SB 185, to force the state’s massive public employee pension funds, the California Public Employees’ Retirement System and the California State Teachers’ Retirement System, to sell off their coal stocks.
The divestment bill is aimed at a handful of companies devoted to coal mining. PacifiCorp is not a target. Warren Buffett’s energy subsidiary, Berkshire Hathaway Energy, owns PacifiCorp, and its holdings extend far beyond coal.
PacifiCorp is pledging to shutter 14 coal plants, representing half its generation, by 2034. Its chief executive, Gregory Abel, was at the White House standing with Obama when the president announced the Clean Power Plan.
“We have long been on a path to reduce carbon emissions,” said Patrick Reiten, the president of PacifiCorp’s transmission operation, who makes regular trips to Sacramento to help bring about the venture with Cal-ISO. It won’t be easy.
Any joint venture likely would require legislation to restructure the California Independent System Operator’s governing board. As it is, the governor appoints the five-member Cal-ISO board, with Senate oversight.
What the new board might look like is to be determined. But would Wyoming, Utah and Idaho want to be without representation? Would California cede power to the nation’s largest coal-producing state?
These are questions worth keeping in mind as our energy policy sorts itself out in this climate-change era. As it strives to end reliance on fossil fuel, will California help turn the rest of the West green? Or will the Golden State end up being dusted with coal ash?
Read more here: http://www.sacbee.com/opinion/opn-columns-blogs/dan-morain/article30956595.html#storylink=cpy -
Community solar project to sell renewable energy
Aug 13, 2015 | AP (in the Washington Times)
A community solar project outside Kalispell will allow residents to purchase renewable energy without installing their own solar panels.
The Flathead Beacon reports (http://bit.ly/1Ns0FBk ) that Flathead Electric Cooperative’s new Solar Utility Network should be running next month, giving members the ability to lower their electricity bills and earn energy tax credits.
Flathead Electric officials say panels are now available for purchase panels for $900. The 285-watt panel will then be installed in a solar panel array on vacant land at the utility company’s Stillwater substation. Participating members will then get credit on their bills for the amount of electricity their panel generates over the next 25 years.
The project, which is slated for completion Sept. 15, is limited to one panel per member for the 25-year life of the program.
Link: http://www.washingtontimes.com/news/2015/aug/13/community-solar-project-to-sell-renewable-energy/
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UN climate expert warns Australia's emissions target should not be final offer
Aug 13, 2015 | The Syndey Morning Herald
By Nicole Hasham
Australia should not attend global talks in Paris refusing to budge on its greenhouse gas emission pledge, the UN's scientific body on climate change has said, ahead of expected international pressure on the Abbott government to do better.
Debate over the controversial climate policy continued in Parliament on Wednesday as the government repeated disputed claims to justify its decision, including how the target compares to the United States.
The government has proposed a 26 to 28 per cent cut to emissions by 2030, based on 2005 levels. Advertisement
Asked on Tuesday if the government's offer was final, Prime Minister Tony Abbott said: "Look, this is our target."
Foreign Affairs Minister Julie Bishop, who will lead Australia's delegation to Paris, said the talks were "not about negotiating targets" but aimed to secure a global agreement based on limiting warming to 2 degrees above pre-industrial levels.
In Canberra on Wednesday, Professor Jean-Pascal van Ypersele, vice-chairman of the UN Intergovernmental Panel on Climate Change, said the December talks in Paris were negotiations.
"No country can go to negotiations knowing or thinking, really, that the [emissions target] numbers cannot be touched," he said.
Professor van Ypersele said targets from each nation would be collated and assessed, adding the collective efforts may not be enough to keep warming below 2 degrees.
That would lead to "a discussion on how to increase the level of ambition and who needs to increase it first", he said.
While pledges from nations may not be formally negotiated at Paris, leaders will probably be urged to increase their ambitions, either during the conference or afterwards.
Ms Bishop on Wednesday said each nation would determine its own targets and any change to Australia's pledge "would require cabinet approval".
On Tuesday Mr Abbott told Parliament that Australia's target was "the same as the United States", despite that nation promising to meet its cuts five years earlier.
He also said modelling – which the government has so far failed to release - showed a 40 per cent emission cut would cost 2 per cent of GDP, leading to "a massive hit on our economy".
On Wednesday Labor said this conflicted with reports that the modelling showeds a 45 per cent cut would cost between 0.5 and 0.7 per cent of GDP.
It called on Mr Abbott to apologise over the US comparison, but he stood by the comments.
On Wednesday Labor leader Bill Shorten said he would attend the Paris talks.
The Marshall Islands, a Pacific nation highly vulnerable to the effects of climate change, has decried Australia's pledge as a "weak target" that erodes our international reputation.
Mr Abbott said the Minerals Council of Australia, which represents the mining industry, called the target is "ambitious".
The target has been interpreted as an effort to placate climate sceptics in the community and the government, while doing the minimum needed to meet Australia's international obligations.
Climate Institute deputy chief executive Erwin Jackson said Australia's target was "not the end of the story".
"Countries in Paris will be under pressure to lift their ambitions," he said.
"Both diplomatic and economic pressure is [also] going to build through time after Paris for countries to get in line with where the world needs to go, which is towards net zero emissions."
Link: http://www.smh.com.au/federal-politics/political-news/un-climate-expert-warns-australias-emissions-target-should-not-be-final-offer-20150812-gixa98.html
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Afghanistan Eyes Indian Companies To Develop Renewable Energy Projects
Aug 13, 2015 | Clean Technica
By Smiti Mittal
Afghanistan is looking to enhance cooperation with India to develop its renewable energy sector and reduce its dependence upon imported energy.
The Afghanistan Government has invited Indian companies to set up renewable energy projects in the war-torn country to increase electrification in its remote regions. Speaking at the India-Afghanistan Renewable Energy Summit held recently in New Delhi, ministers in the Afghan government called upon Indian companies to invest in and develop off-grid renewable energy projects in Afghanistan.
Given the low population density in Afghanistan, off-grid renewable energy projects will be more beneficial than setting up transmission grids through the country at high costs, Minster of Rural Rehabilitation and Development Nasir Ahmad Durrani said. The electrification rate in Afghanistan is a dismal 33% at the moment, which the government plans to increase to 65% over the next five years. The country is dependent on imported electricity from neighboring countries — a situation the government wants to change in order to ensure energy security and further independence.
Afghanistan counts India among its long-standing allies. India has been working on infrastructure development in Afghanistan for several years now and has increased its support following the launch of the global reconstruction initiative.
India is building a 42 MW hydro power project in the county which is expected to be commissioned next year. The project will not only generate electricity, but will also provide irrigation for neighbouring area. Masdar and the International Renewable Energy Agency (IRENA) have also supported development of distributed renewable energy projects in Afghanistan. Recently, South Korea and United Nations Commission on Human Rights also pledged support for the development of a small-scale wind energy project to provide electricity to a refugee camp in the country.
Link: http://cleantechnica.com/2015/08/13/afghanistan-eyes-indian-companies-develop-renewable-energy-projects/
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