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SFCE Aug 18
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SFCE Becomes Majority Stakeholder After Announcing Acquisition Of Suniva, America’s High-End Solar Manufacturer
Aug 17, 2015 | PV Buzz
Shunfeng International Clean Energy has entered into an agreement to acquire a majority share of Suniva. 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. -
The UK’s top polluter wants to be its biggest renewable energy producer
Aug 17, 2015 | Quartz
By Cassie Werber
Twelve grey towers rise up from the fields of wheat and barley near the village of Drax in North Yorkshire. As you approach, the oak and ash trees that line the road briefly obscure the cooling stacks and their plumes of steam. Then you round a corner and there they are, looming over you, dwarfing everything around them... -
India releases annual targets for 100GW 2022 solar goal
Aug 17, 2015 | Recharge
By Anamaria Deduleasa
India has released its INR6 tr ($92bn) road map for reaching 100GW of solar by 2022. The Ministry of New and Renewable Energy says 40% of the new capacity in the next seven years will be added in the rooftop sector (both residential and larger commercial), with grid-scale projects making up the remaining capacity. -
Germany Struggles With Too Much Renewable Energy
Aug 17, 2015 | Oil Price
By Gaurav Agnihotri
Since the 2011 Fukushima nuclear disaster, Germany has been one of the few countries that have successfully moved away from nuclear energy. Germany has so far successfully shut down its nine units that had the capacity of generating enough power for at least 20 million homes in Europe. In fact, the contribution... -
Yingli Green heading towards NYSE de-listing warning
Aug 18, 2015 | PV Tech
By Mark Osborne
Major tier-1 PV manufacturer Yingli Green Energy is at threat of receiving a NYSE de-listing warning as its shares have traded below the US$1.0 threshold for the last 20 days of consecutive trading. Yingli Green’s shares have traded on the NYSE below the US$1.0 threshold since July 21, 2015 and would trigger a de-listing notice after trading... -
Google launches rooftop PV analysis program
Aug 18, 2015 | Recharge
By Anamaria Deduleasa
Google has launched “Project Sunroof” – a digital mapping and analysis tool to help households think of installing a PV system. The new feature will analyse potential customers' roofs for potential costs, savings and project size. -
SunEdison forms $1 billion investment vehicle with Goldman Sachs
Aug 18, 2015 | PV Magazine
By Becky Beetz
SunEdison has formed a US$1 billion warehouse investment vehicle with investment funds managed by Goldman Sachs. There is the possibility to expand this to $2 billion. If exercised, this would bring the renewable energy giant’s total warehouse platforms to $4 billion. -
Zambia looks to add 1.2GW of solar in the next year
Aug 17, 2015 | Recharge
By Christopher Hopson
Zambia plans to add 1.2GW of solar to its national grid by August next year. Christopher Yaluma, the minister of mines, energy and water development, says the government is working hard to exploit all sources of energy, in a country that suffers severe electricity shortages. -
California green jobs program failing to meet expectations
Aug 17, 2015 | The Hill - E2 Wire
By Devin Henry
A green jobs program in California is falling well short of the expectations initially set for it three years ago, The Associated Press reported Monday. The Clean Energy Jobs Act, a voter-approved program that raised taxes on corporations to fund energy-efficiency... -
Global Green Building Market Outlook 2020
Aug 17, 2015 | Market Watch
As green building techniques lead to a much lower level of greenhouse gas emissions, thus the global green building market is witnessing a strong growth in recent years on the back of rising awareness concerning global warming and climate change. The governments in different countries are also taking various regulatory measures...
SFCE News
Industry News
Full Text of Stories Below
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Aug 17, 2015 | PV Buzz
Shunfeng International Clean Energy has entered into an agreement to acquire a majority share of Suniva. 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.
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.
Link: http://www.pvbuzz.com/emerging-markets/sfce-becomes-majority-stakeholder-after-announcing-acquisition-of-suniva-americas-high-end-solar-manufacturer/
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The UK’s top polluter wants to be its biggest renewable energy producer
Aug 17, 2015 | Quartz
By Cassie Werber
Twelve grey towers rise up from the fields of wheat and barley near the village of Drax in North Yorkshire. As you approach, the oak and ash trees that line the road briefly obscure the cooling stacks and their plumes of steam. Then you round a corner and there they are, looming over you, dwarfing everything around them, like a child’s illustration of a belching power station.
But Drax, the biggest power plant in England, isn’t the coal-hungry beast it once was. Half of the plant continues to run on fossilized carbon, and the other half has been converted, in a multi-million pound project, to burn biomass—pellets made from wood. Drax is trying to ensure its survival by moving away from fossil fuel and towards a technology that, it says, is more sustainable. It didn’t have much choice. Tightening environmental legislation has been forcing coal-fired power stations across Europe to close.
Drax’s conversion, while allowing it to sidestep closure, has opened it up to a whole new set of pressures. For starters, no-one really agrees on how much carbon biomass actually releases, nor where and how it should be grown. Added to this are the swoops and swerves of government policy, as Britain and the EU struggle to cut emissions while fulfilling their energy needs. For now, biomass forms a huge part of the bloc’s plan to transform its energy sources, and Drax stands as Europe’s test-case for decarbonization. But there are no guarantees biomass will continue to command center stage. Its partial metamorphosis leaves Drax precariously balanced on the cusp of the old world, and what might turn out to be the new.
Its partial metamorphosis leaves Drax precariously balanced on the cusp of the old world, and what might turn out to be the new. Big biomass
Superlatives, noted Pauline Butler, Drax’s encyclopedic head guide, quickly fail. She had stopped her car in front of a metal pipe that carries gas produced by burning coal to the part of the plant that strips out much of the harmful sulphur dioxide before it’s released into the atmosphere. But even the word “pipe” belittles a structure which, she says, is wider in diameter than the undersea train tunnel running between England and France. “You could easily get a Eurostar in there and still have head room,” says Butler, a former dairy farmer who has worked at Drax for the past 24 years. Everything about the plant is enormous.
There are the cooling stacks. There are vast, diagonal casings connected to metal towers like parts of an industrial rollercoaster. The casings house 139 conveyor belts that feed the pulverizing mills, which grind fuel to a consistency “as fine as face powder” before it’s incinerated. There are pipes for powdered fuel, pipes for dust, pipes to channel water from the River Ouse to act as a coolant. There are six boilers. Each weighs 4,000 tonnes (4,409 tons) and is suspended from the roof of the giant building that houses it, because heating causes them to expand, contract, and sway, making them unsuitable to stand on the ground. There is a heap of coal, one million tonnes (1.1 million tons) in all (a third of what Drax used to store in its fossil heyday.) This is what it takes to provide power to close to a tenth of Britain.
Everything about the plant is enormous. Of one pipe, the guide says: “You could easily get a Eurostar in there and still have head room.”
And then there are the biomass domes. Biomass is the newest addition to Drax’s energy production process, and it’s brought with it big changes, including the construction of two storage domes that were created by inflating polypropylene sheathes—something like building-sized balloons—and then layering the insides with concrete. Each dome can hold 75,000 tonnes (83,000 tons) of wood pellets that are shipped mainly from America to nearby ports at Immingham, Hull and Port of Tyne, and delivered to Drax on purpose-built trains that run on its own private railway.
Two of Drax’s six boilers have been fully converted to burn biomass. A third is burning 85% wood pellets and making up the shortfall with coal while it waits for the necessary permissions from the European Commission for full conversion. Getting to this point has taken about 12 years of research and development—during which the company tried burning bushels of locally-grown elephant grass and willow before settling on wood—and three years of construction for the infrastructure to manage a new fuel that produces harmful, flammable dust and can’t be left out in the rain, as coal can. The bill thus far stands at £750 million ($1.2 billion). But the time, effort and money has yet to buy it any measure of certainty over its future.
Tipping point
Drax encapsulates most of the problems afflicting the West’s energy supply equation.
There’s the old world: Burning coal, to create reliable electricity. Such “baseload” production is seen as essential to powering a western lifestyle of constantly charging phones, cooled air, and boiling kettles. The power station has various fail-safes in place—like locating its control room far from its boilers—that would allow operators to remain at their posts even if a major incident occurred at the plant. It’s needed, and it knows it. It has huge lobbying power.
Pauline Butler in the turbine hall.(Quartz)
Coal combustion, meanwhile, causes massive harm to the environment. When it only burned coal, Drax was the biggest single emitter of carbon in the UK. It pumped over 20 million tonnes into the air each year, as well as all the other pollutants, like nitrous oxides, that come with burning coal. In 2008, a group of climate activists stopped one of its trains, and shoveled coal from the hoppers onto the track in an attempt tohighlight the damage the plant was doing.
Then there’s the new world. Drax calls its switch to biomass “Europe’s single largest decarbonisation project,” (pdf, p6) one that makes is the “largest single renewable generator in the UK.” It’s a turnaround born of great pressure. Coal has found itself at the sharpest end of climate policy in western Europe.
But biomass is no garden of roses either. In theory, it’s enabled Drax toclaim a massive reduction in carbon emissions. Critics say they haven’tshrunk, they’ve just become much harder to measure. Meanwhile, policy and subsidy chicanes have proved every bit as tricky to navigate as coal’s. Without the tax exemptions and other government support it’s received, the conversion project would have been a very bad economic decision.
What “sustainable” means
Scientists are still divided on the benefits and pitfalls of biomass, but one thing is clear: Drax will only save carbon if it sources its wood pellets using a set of strict criteria. The alternative could be more carbon emissions than coal, not less.
Here, Quartz would normally provide you with a chart. But even that is difficult.
Drax will only save carbon if it sources its wood pellets using a set of strict criteria. The alternative could be more carbon emissions than coal, not less.
So many factors have to be taken into account when working out the actual emission from burning biomass that scientists at the UK Department for Energy and Climate Change (DECC) created a calculator (pdf) to test out different scenarios. Everything from the use of sawmill shavings and other “residues” of forestry, like twigs and branches, to the chopping down of slow-growing forest and replacing it with faster-growing trees, was considered.
The results varied wildly. In the very best-case scenario, where material that would otherwise be burned at the roadside was made into pellets and shipped to the UK, greenhouse gas emissions could actually be negative, or very low: between -17 and 121 kilograms of CO2 emissions per megawatt hour of electricity. But in the worst-case scenario, emissions were almost five times higher than coal. This calculation counted the chopping down of slow-growing trees that would otherwise have remained standing, storing carbon, and replacing them with often-harvested pines.
With this in mind, here’s that chart:
The very idea of burning an organic material for energy is anathema to many. The Dogwood Alliance, a non-govermental group formed to protect forests in the southern US, contends that going back to burning wood for energy is a massive mistake. It notes that three fully converted boilers at Drax will consume 7.5 million tonnes (8.3 million tons) of pellets a year. “Once these investments are completed, Drax will require quantities of woody biomass equivalent to harvesting a forest four times the size of Rhode Island each year or more than the total wood harvest from all UK forests,” they say.
Indeed, four years after Drax committed to using high-grade wood for fuel, the UK has become the biggest importer of wood pellets in the world, and Drax the biggest single importer in the UK. It needs so many wood pellets it has its own pellet mills in the US, and buys the rest from other companies. A 2014 Wall Street Journal investigation found that some older trees could be finding their way into the pellet supply chain. Most of its accusations focused on a company called Enviva. Enviva is still a supplier to Drax.
Andy Koss, CEO of Drax Power, says the company is “very confident that we’re sourcing sustainable biomass.” What does sustainability mean to them? “Principally, the forests that we’re taking our biomass from are actually growing more than is being harvested. The carbon cycle is preserved,” he said. The material used to make pellets is forest “residue”, including branches and twigs, that would otherwise go to waste. He said they do not burn wood from whole trees.
Biomass’s “carbon-neutral” status can only be ensured if enough trees are planted to absorb the carbon released not just from the burning, but from the production of pellets and their transportation halfway across the world by ship. In the US, Mr Koss said, forest cover has doubled over a period of around 50 years. “So, we believe we’re actually helping. I know it sounds counterintuitive at times, we’re actually helping to preserve forest as forest, by bringing economic value to some bits of the forest that would otherwise be burned by the side of the road, or would just be waste.”
A project is also in the pipeline which, if built, could eventually allow Drax to capture some of the carbon emitted, and bury it. Meanwhile, Drax does not have to buy carbon allowances for the biomass it burns, as it does with coal.
Hungry Europe
Europe’s Large Combustion Plant Directive came into effect in 2001. Its enactment in the UK means that coal power stations had to make themselves cleaner, or close.
But Europe needs baseload power, its commitment to carbon emissions reductions notwithstanding. As it struggles to meet its energy needs, the debate over the potential flaws of biomass is often pushed to the side. Biomass and energy from waste already accounts for more than 64% of the renewable energy produced in Europe. Far less-polluting alternatives like wind and solar are gaining traction, but they’re dependent on the unreliable wind and sun, and can’t be called on at any moment, especially not at moments of surging need.
Drax, with half its boilers burning coal dust and the other American wood power, has hit a problem every energy company dreads: the government.
Drax is looked to as a trailblazer, a test case for the conversion of the world’s dirtiest electricity production facilities that could, in the best case scenario, offset their own emissions with local, sustainable trees and plants. Sites at Lynemouth and Ironbridge in the UK, as well as in Denmark, Belgium and the Netherlands, are following its lead. But Drax, with half its boilers burning coal dust and the other American wood power, has hit a problem every energy company dreads: the government.
Changing the goal posts
Reining-in spending was a prominent feature of the current UK government’s election campaign. Since it came to power in May, the administration has been clear that cutting costs comes before cutting emissions.
Recent cuts in subsidies have hit renewables, like onshore wind, hard. Biomass didn’t escape. Previously, producers of renewable energy were exempt from a tax called the Climate Change Levy, and could sell on their “exemption certificates” to users who needed them. But in July, George Osborne, Britain’s chancellor of the exchequer, reversed that policy. Drax lost a quarter of its share value that day. Dorothy Thompson, the group CEO, called it (pdf) “a shock to the industry, representing an about-turn in a well entrenched policy that has been a key underpinning for renewable investments since 2001.”
Energy generators value certainty. Knowing that a subsidy won’t be retroactively withdrawn (as happened to Spanish solar with disastrous effect), or that a support mechanism isn’t going to be change is important to secure the investment needed for, say, a £750 million biomass conversion project.
Neil Woodford, a fund manager and long-term investor in Drax, wasdeeply critical of the government’s “back-pedalling”. The change, he wrote in a blog, “demonstrates that Government believes that policy can be amended to suit changing political priorities” without considering implications for the wider economy or private funders. A spokeswoman for the Department for Energy and Climate Change said that it will be releasing more information on its plans for renewable energy in the coming months.
But policy change may—in theory, at least— sometimes be necessary, explained Dr Bridget Woodman, an expert in energy policy from the University of Exeter.
“There is no such thing as perfect energy policy,” she said. “All there is is a set of balances and compromises and trade-offs.”
“There is no such thing as perfect energy policy. All there is is a set of balances and compromises and trade-offs.”
In setting policy, government must try to balance decarbonisation, with ensuring that energy is affordable, and that the supply of energy is secure. Having said that, she added, the UK government’s current changes are hard to fathom. “They’re chucking out a large quantity of their low carbon policies, in favor of, I think, things that they think are going to deliver more affordability and more security. But they’re very much focused on the short term.”
Drax’s Andy Koss said, “What the government have done is pressed the pause button, and they’re looking to develop their policy as how do we hit 2020 targets and then beyond that.” Is there really a “pause button”? Mr Koss conceded that “it’s very hard to slow down investment.”
“I think that the pause has to be short,” he said.
For many people in the Western world, it’s almost impossible to see how we’d do without electricity. And we’re not trying to; we’re just shuffling and reshuffling a deck that includes carbon and climate change, price and place. And playing a game that can never stop.
Link: http://qz.com/465152/dont-believe-those-who-tell-you-american-innovation-is-losing-its-way/
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India releases annual targets for 100GW 2022 solar goal
Aug 17, 2015 | Recharge
By Anamaria Deduleasa
India has released its INR6 tr ($92bn) road map for reaching 100GW of solar by 2022.The Ministry of New and Renewable Energy says 40% of the new capacity in the next seven years will be added in the rooftop sector (both residential and larger commercial), with grid-scale projects making up the remaining capacity.
The sector, which has a cumulative installed grid-connected capacity of more than 4GW, is planning an additional 2GW in 2015-16 - 200MW of rooftop and 1.8GW of ground-mounted projects.
Between 2016 and 2017, the target is 12GW (4.8GW goal for rooftops and 7.2GW for ground arrays).
The target for 2017-18 is 15GW (5GW rooftop and 10GW ground-mounted projects), while 2018-19 has a 16GW target (6GW rooftop and 10GW ground-mounted), and 2019-20 has a target of 17GW (7GW rooftop and 10GW ground-mounted).
Meanwhile, 2020-21 and 2021-22 both have an annual target of 17.5GW, which should bring total installed capacity in the next seven years to nearly 97GW.
However, according to a report this month by the Institute for Energy Economics and Financial Analysis and Indian energy analysis firm Equatorials, the country will fall 25GW of its goal.
Link: http://www.rechargenews.com/incoming/1408863/india-releases-annual-targets-for-100gw-2022-solar-goal
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Germany Struggles With Too Much Renewable Energy
Aug 17, 2015 | Oil Price
By Gaurav Agnihotri
Since the 2011 Fukushima nuclear disaster, Germany has been one of the few countries that have successfully moved away from nuclear energy. Germany has so far successfully shut down its nine units that had the capacity of generating enough power for at least 20 million homes in Europe. In fact, the contribution of nuclear power in Germany’s electricity generation has now fallen to just 16 percent and renewables are now the preferred source of electricity generation in the country.
However, Germany and its neighbors are now facing an unusual problem. With the dramatic increase in green energy usage, Germany is generating so much electricity from renewables that it is finding it hard to handle it. The excess electricity that is generated is being spilled over to its neighboring countries, thereby increasing the threat of a power blackout should there be a sudden supply disruption.
How much should Germany invest to solve this problem?
Although Germany has increased its renewable energy generation by almost five times in the last decade, it has failed to invest in building the necessary infrastructure to carry this energy. The excess electricity that is being generated by Germany is spilling over to Poland and Czech Republic, two countries that are investing close to $180 million to shore up their grids from Germany’s power spillage.
“A huge accumulation of overflow increases the threat of a blackout. The root of the situation is allowing a huge amount of electricity to be generated regardless of the capacity of the grid,” said Zbynek Boldis of Czech grid CEPS AS. It is quite obvious that Germany needs to upgrade its network to accommodate the excess power. In fact, grid companies in Germany are set to invest close to $24 billion for upgrading their network and modify its existing high voltage power lines.
Is there a way that this excess power is stored?
Yes, there is an energy storage technology that has the capability of storing this excess power. The power to gas technology basically converts the excess electricity into gaseous energy by producing a zero carbon hydrogen gas. This gas can then be converted into renewable methane and used as an energy source in future. German auto giant Audi was the first to use this technology by setting up the world’s first 6 MW- ‘power to gas’ plant in its home country.
In fact, Audi’s E-gas plant is now directly contributing to the stabilization of the country’s power grid. German grid operators are welcoming players that can contribute to stabilize its fluctuating energy production. According to Germany’s second biggest grid operator, Tennet TSO GmbH, an energy-balance player must be capable of drawing close to 6MW power from the grid within a period of five minutes while operating on its standard load profile. Audi’s e-gas plant has been successful in meeting this criterion and has been able to produce more e-gas at the same time by increasing its targets.
What is the price of this power?
The balancing power market has created a tremendous buzz in Germany as several new players are entering this market where utilities can end up getting paid 400 times more than the wholesale electricity rates. However, the increase in the number of new players has reduced overall prices.
“More supply means lower prices and that means lower costs for German end users,” said Armasari Soetarto who is a spokeswoman of the Bonn based authority. According to data from Next Kraftwerke, the price of power capacity that is available in the span of five minutes has reduced to around $1232 per MWh from $1,877 per MWh in January 2015.
However the biggest price drop is for electricity capacity with the capability of reducing output within 15 minutes. Those prices have dropped to $401 per MWh from the earlier $1,794 per MWh in January 2015. In 2014, companies operating in the balancing power market got close to $1.1 billion through direct payments. As Germany tries to double its power output from renewables by 2034, the balancing power market is set to grow in the next few decades.
Related: The “Thin Green Line” Holding Back U.S. Energy Exports
Can companies from neighboring countries gain from cheap German electricity?
Traders based in Austria have, in fact, gained at lot from cheap German electricity. These traders sell German electricity at higher prices to other countries at capacities that far exceed the planned figures. However, the German-Austrian market is now coming under scrutiny from European regulators and Austrian traders are now blocked from buying German power.
Cheap German electricity would indeed find a lot of takers, especially the companies and grid operators in neighboring countries Poland and Czech Republic. The price of German electricity is around 18 percent less than what is available in Poland, so it makes financial sense to buy cheaper electricity from Germany. “My boss keeps asking why we aren’t buying power from Germany, but this is practically impossible,” said Henryk Kalis who is an energy buyer for ZGH Boleslaw that is controlled by Arcellor Mittal.
In order to change this market outlook, it is extremely important that Germany invests in its energy infrastructure and brings it in line with its renewable energy generation. It is ironic that a country which produced around 78 percent of its power consumption from renewables in July 2015 still struggles to ship its cheap power from the northern region to its southern region.
Link: http://oilprice.com/Alternative-Energy/Renewable-Energy/Germany-Struggles-With-Too-Much-Renewable-Energy.html
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Yingli Green heading towards NYSE de-listing warning
Aug 18, 2015 | PV Tech
By Mark Osborne
Major tier-1 PV manufacturer Yingli Green Energy is at threat of receiving a NYSE de-listing warning as its shares have traded below the US$1.0 threshold for the last 20 days of consecutive trading.
Yingli Green’s shares have traded on the NYSE below the US$1.0 threshold since July 21, 2015 and would trigger a de-listing notice after trading below the threshold for 30 consecutive trading days.
The company issued a ‘going concern’ warning in its 2014 annual report, in mid-May, while its shares have declined around 75% in the last 12 months.
However, solar stocks in general have been taking a beating on both the NYSE and NASDAQ exchanges in the US in recent months, primarily driven by continued weakness in oil prices that investors translate to weak demand in energy and therefore energy listed companies, despite no actual relation to PV related demand, globally.
Concern surrounding Yingli Green’s share price and potential de-listing trigger point around the time of the release of its second quarter financial results on August 27, have resulted in larger share trading volumes yesterday, driving the share price to US$0.98 briefly and US$0.86 at close of trading.
Link: http://www.pv-tech.org/news/yingli_green_heading_towards_nyse_de_listing_warning
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Google launches rooftop PV analysis program
Aug 18, 2015 | Recharge
By Anamaria Deduleasa
Google has launched “Project Sunroof” – a digital mapping and analysis tool to help households think of installing a PV system.
The new feature will analyse potential customers' roofs for potential costs, savings and project size.
Project Sunroof will also connect users with solar providers in their area. SunEdison, NRG and SunPower stand as a few of the groups that Google lists as solar developers.
Initially Residents in Boston, Fresno, California and the San Francisco Bay Area can participate by entering their address into the program’s home page, after which Google analyses their building’s rooftop, calculating how much sunlight it receives in a year.
The project will then list its recommended installation size for a PV system.
Link: http://www.rechargenews.com/incoming/1408920/google-launches-rooftop-pv-analysis-program
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SunEdison forms $1 billion investment vehicle with Goldman Sachs
Aug 18, 2015 | PV Magazine
By Becky Beetz
SunEdison has formed a US$1 billion warehouse investment vehicle with investment funds managed by Goldman Sachs. There is the possibility to expand this to $2 billion. If exercised, this would bring the renewable energy giant’s total warehouse platforms to $4 billion.
West Street Infrastructure Partners III (WSIP), and affiliates, have joined forces with SunEdison to create the $1 billion WSIP Warehouse, to fund construction and acquire operating assets in the renewable energy field. Yieldco, TerraForm Power Inc. has exclusive call of rights. The transaction details are expected to be finalized this October 31.
WSIP, a Goldman Sachs-managed investment fund has committed $300 million worth of equity, while Morgan Stanley, Bank of America and Deutsche Bank will cover the remaining $700 million, comprised of a $500 million five year loan and a $200 million four-year revolving credit facility. Subject to certain, unidentified, conditions being met, SunEdison has the option to expand the WSIP Warehouse to $2 billion.
SunEdison already has two existing warehouse facilities worth $2 billion in the form of the $1.5 billion First Reserve Warehouse and the $500 million TerraForm Private Warehouse. "Our new warehouse supports SunEdison's 2016 guidance for growth, reinforces the depth of demand for investor participation in SunEdison's warehouse platform and provides repeatable and scalable funding for the future," commented Brian Wuebbels, SunEdison CFO.
The company has not ruled out expanding its existing warehouse facilities, or adding further ones in the coming future, as it continues to explore financing alternatives.
In a separate statement released, SunEdison said it would offer 500,000 shares of its Perpetual Convertible Preferred Stock worth $500 million. The proceeds are expected to go towards "general corporate purposes, including funding working capital and growth initiatives."
Helping to cement it as the world’s biggest renewable energy development company, SunEdison has made a number of significant announcements over the past year, including the establishment of TerraForm Power and TerraForm Global; the acquisition of three wind companies, including giant, First Wind, and residential solar rooftop installer, Vivint Solar; and a number of wind and solar portfolios across the globe.
Link: http://www.pv-magazine.com/news/details/beitrag/sunedison-forms-1-billion-investment-vehicle-with-goldman-sachs_100020634/#axzz3j4yVHGh1
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Zambia looks to add 1.2GW of solar in the next year
Aug 17, 2015 | Recharge
By Christopher Hopson
Zambia plans to add 1.2GW of solar to its national grid by August next year.
Christopher Yaluma, the minister of mines, energy and water development, says the government is working hard to exploit all sources of energy, in a country that suffers severe electricity shortages.
Yaluma says the government is making progress in negotiating with independent power producers.
The country, which depends on hydro for more than 90% of its power supply, is concerned in case it does not have enough rainfall to generate power next year.
Zambia is importing 100MW of electricity from Mozambique and will import 60MW from South Africa towards the end of December.
Link: http://www.rechargenews.com/incoming/1408858/zambia-looks-to-add-12gw-of-solar-in-the-next-year
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California green jobs program failing to meet expectations
Aug 17, 2015 | The Hill - E2 Wire
By Devin Henry
A green jobs program in California is falling well short of the expectations initially set for it three years ago, The Associated Press reported Monday.
The Clean Energy Jobs Act, a voter-approved program that raised taxes on corporations to fund energy-efficiency construction projects, has brought in less money than anticipated and has created only one-tenth the jobs its backers promised in 2012.
California lawmakers directed the tax revenue raised by the program to clean energy projects at schools around the state, predicting it could create 11,000 jobs every year. But the program is so far responsible for only 1,700 jobs total, according to the AP.
State officials told the AP they didn’t have details on the number of projects the program has been able to fund or the amount of energy savings it’s found. They also didn’t have information on the types of jobs created by the fund.
It's also bringing in less money than expected. When pushing the program ahead of its 2012 referendum, supporters said the fund would lead to $550 million in new clean energy spending, but it raised less than $280 million last year.
School districts have applied for only have the money made available for efficiency upgrades, according to the report, and half the funding distributed so far has gone to consultants and auditors.
The Clean Energy Jobs Act won the backing of several high-profile environmentalists and lawmakers in California ahead of the referendum on it in 2012. Billionaire environmental activist Tom Steyer pushed the proposal hard, putting $30 million behind the ballot measure, which passed with more than 61 percent of the vote.
In a statement to the AP, Steyer reiterated his support for the program.
“Proposition 39 has already accomplished its goal of protecting California jobs and employers by closing a corporate tax loophole for companies that ship California jobs to other states," he said.
Link: http://thehill.com/policy/energy-environment/251278-california-green-jobs-program-failing-to-meet-expectations
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Global Green Building Market Outlook 2020
Aug 17, 2015 | Market Watch
As green building techniques lead to a much lower level of greenhouse gas emissions, thus the global green building market is witnessing a strong growth in recent years on the back of rising awareness concerning global warming and climate change. The governments in different countries are also taking various regulatory measures to expand the green building market. As per our latest research report "Global Green Building Market Outlook 2020", the global green building market is anticipated to grow at a CAGR of around 13% during 2015-2020.
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As per our study, though US have the biggest market for green building construction, developing economies in Asia-Pacific are also showing significant growth in this sector. To provide further comprehensive information on major green building markets, a detailed description has been incorporated in country level analysis which includes US, Canada, Germany, UK, India, China, UAE and Brazil market. The report is a comprehensive research closely tracking the global green building industry, which will facilitate the interested investors in this industry to formulate strategies for an investment/partnership in the green building market.
A detailed section on trends and drivers has been done which shows that multiple government policies supporting green building construction, growing awareness regarding global warming, energy efficiency and cost effectiveness of green buildings has been propelling the global market. Besides, our report also provides the business overview, product portfolio, key financials, and recent developments of leading global players like BASF, DuPont, Owens Corning, PPG Industries, Saint Gobain, Lafarge, Kingspan, Forbo Intenational, Interface and Alumasc Group that will be beneficial for the readers to understand the market further.Link: http://www.marketwatch.com/story/global-green-building-market-outlook-2020-2015-08-17
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