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SFCE Oct 30
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SFCE signs strategic cooperation agreement with Chongqing Road & Bridge Co., Ltd.
Oct 29, 2015 | Your Renewable News
Shunfeng International Clean Energy Limited ("SFCE" or the "company", HK stock code: 1165) today announced the signing of a strategic cooperation agreement with Chongqing Road & Bridge Co., Ltd. ("Chongqing Road & Bridge", SSE Code: 600106). Both parties will cooperate closely in various fields of clean energy, working together ... -
Chamber Celebrates 100 Years
Oct 30, 2015 | China Money Network
...In the afternoon, Huang Gan, Chairman of HNA Logistics and Jing Nealis, CFO of Shunfeng International Clean Energy talked about China's outbound investment with the founding partner of Rhodium Group, Dan Rosen... -
5 energy trends driving climate progress in 2015
Oct 29, 2015 | Environmental Defense Fund
By Ben N. Ratner
What a difference a year can make. Even before the last weeks tick away, 2015 stands out as a remarkable and dynamic year for climate and energy in the United States. Read on for five bold trends that are beginning to reshape our economy - and our national discourse on climate change. -
SolarCity to slow growth and focus on cost reduction
Oct 29, 2015 | PV Magazine
By Christian Roselund
SolarCity has been on a path of very strong growth over the past few years, nearly doubling installations every year. During the third quarter of 2015 the company installed 256 MW of solar PV and booked 345 MW, an increase of 86% and 50% year-over-year respectively.
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SFCE signs strategic cooperation agreement with Chongqing Road & Bridge Co., Ltd.
Oct 29, 2015 | Your Renewable News
Shunfeng International Clean Energy Limited ("SFCE" or the "company", HK stock code: 1165) today announced the signing of a strategic cooperation agreement with Chongqing Road & Bridge Co., Ltd. ("Chongqing Road & Bridge", SSE Code: 600106). Both parties will cooperate closely in various fields of clean energy, working together across the entire PV industry value chain, raising the overall operational efficiency of both parties, and enhancing a win-win and sustainable strategic partnership.
According to the strategic cooperation agreement, both parties will jointly leverage capital, technology and management, and start cooperation on the development and transfer of PV power plant projects in accordance with the relevant regulations. At the same time, both parties will collaborate on future implementation of PV power plant projects of a certain scale.
"I am very excited for the strategic cooperation agreement with Chongqing Road & Bridge," says Eric Luo, SFCE CEO. "Against the backdrop of changes in global energy landscape, and in line with the national industrial policy in the new energy sector, SFCE is initiating a strategic transformation of the company's solar business to focus on the provision of comprehensive solutions for PV power plants. This will include investment, development, construction, O&M services, as well as ownership and transfer. This new strategic approach will enable sustainable robust growth for SFCE's long-term O&M services. We will continue to discuss with Chongqing Road & Bridge proactively to reach a win-win, formal cooperation agreement with them as soon as possible."Link: http://www.yourrenewablenews.com/sfce+signs+strategic+cooperation+agreement+with+chongqing+road+%26+bridge+co.,+ltd._123081.html
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Oct 30, 2015 | China Money Network
AmCham Shanghai was established on June 9, 1915. For 100 years, AmCham Shanghai has been at the forefront of American business success in China. To celebrate its 100th anniversary, the Chamber held a special two-day event that featured a gala dinner for over 500 distinguished guests, including U.S. and Chinese government officials, and a forum with top business and investment leaders, industry experts and entrepreneurs. The gala dinner and forum were both held at the Ritz Carlton Pudong.
Top government officials attended the gala dinner, which was held the evening of October 28, including U.S. Ambassador to China Max Baucus; Vice Mayor of Shanghai Zhou Bo; U.S. Consul General Hanscom Smith; Suzhou Vice Mayor Sheng Lei; Wuxi Vice Mayor Wang Jinjian; Yiwu Vice Mayor Xiong Tao.
The event, emceed by television personality Yuan Ming, began with a video celebrating the Chamber's 100-year history, with archival footage showing the Chamber's growth since 1915, set against a backdrop of major events in China's modern history.
This was followed by remarks from AmCham Shanghai Chair, Robert Theleen. Theleen commented on the importance of American and Chinese ties and the drastic changes he has witnessed in his 35 years in China. "Now we know that China is essential to any American business with aspirations of being a global company and we know what the people of Shanghai and the Yangtze River Delta are capable of," he said.
In a reflection of the Chamber's efforts to build not just strong commercial ties but also to contribute to Shanghai's community, the Chamber presented the Soong Ching Ling Foundation Scholarship Fund to students in need at Fudan and Jiaotong Universities. RMB 375,000 will help finance the university education of 75 students over the next two years. As AmCham Chair Robert Theleen said, "There is no better way to demonstrate our commitment to 'people, partnership and progress' than to invest in the next generation of China's leaders."
U.S. Ambassador to China Max Baucus commented on AmCham's value in building a global economy. "Your work creating jobs has led to a consumer spending boom on everything from iPhones to travel and study in the United States. And your assistance to the development of civil society and corporate social responsibility is vital to our work in China," he said.
Following Ambassador Baucus, Shanghai's Vice Mayor Zhou Bo spoke about the 2008 financial crisis and how the U.S. and China worked in cooperation to address various issues at the time and continues to do so today. He said that both countries have been instrumental in pushing the world's economy since that time, and the relationship will only continue to grow.
On October 29, the full-day AmCham Shanghai 100th Anniversary Forum showcased many of China's most influential business heads as well as entrepreneurs and other key business personalities. The forum began with a panel discussion featuring the China heads of major American businesses. Andrew Au, CEO of Citi China; John Lawler, Chairman of Ford China; Abinta Malik, General Manager and Senior Vice President of Gap Greater China; Amit Midha, President of Dell Asia Pacif ic and Japan Region; and Glen Walter, CEO of Coca-Cola Bottling Investments Group China shared how they build sustainable businesses in an environment that is complex and challenging yet full of opportunity.
In the next panel, Young CEOs: The Next Generation of China's Business Leaders, panelists discussed the factors they believe will guide the future of business in China as well as their approaches to running businesses in this swiftly changing economy. They included Kevin Guo, Co-Founder and Co-CEO of Dianrong; Zhou Li, Vice President and Co-Founder of Wind Information; and Jane Sun, Co-President of Ctrip International.
As China's economy continues to develop, many Chinese educated abroad have returned home for job opportunities. A group of successful business returnees discussed why they returned to China and the opportunities that resulted. A panel titled Creative Disruption: Innovation and New Business Models in China looked at the role of innovation in China's growth and modernization.
In the afternoon, Huang Gan, Chairman of HNA Logistics and Jing Nealis, CFO of Shunfeng International Clean Energy talked about China's outbound investment with the founding partner of Rhodium Group, Dan Rosen.
James McGregor, Chairman of APCO Worldwide Greater China Region; Patrick Zhong, Head of Global Investments & Strategies at Fosun; J.P. Morgan's chief China economist Haibin Zhu; and Fan Bao, Chairman Chief Executive of China Renaissance, concluded the Forum with their views on the future of business in China, the economy and the potential impact of future economic reforms.
"Our centennial anniversary is a celebration of the contributions of the American business community over the past hundred years to China's economic development and the prosperity of the Chinese people, as well as the enduring friendship between the American and Chinese people. People, Partnership and Progress -- that's the theme of our anniversary year and of this forum," said Kenneth Jarrett, President of AmCham Shanghai.
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5 energy trends driving climate progress in 2015
Oct 29, 2015 | Environmental Defense Fund
By Ben N. Ratner
What a difference a year can make. Even before the last weeks tick away, 2015 stands out as a remarkable and dynamic year for climate and energy in the United States.
Read on for five bold trends that are beginning to reshape our economy - and our national discourse on climate change.
1. Investments in renewables soar
I admit it: For years, I thought renewable energy was more hype than reality. I’m happy to report that recent data proves me wrong.
In just five years, solar panel prices have fallen 80 percent, and solar capacity installed worldwide grew more than six-fold. The overall cost of solar per kilowatt-hour, meanwhile, plummeted 50 percent.
For the first time in history, energy from the sun is as cheap as traditional energy in states such as Arizona, California and Texas.
The proof is in the pudding. Apple, for example, recently signed an $848-million power agreement with a solar provider – bypassing the electric grid. A deal of this magnitude shows where solar is today, and where it is headed.
2. Energy storage bursts onto the scene
If price has been the main barrier to clean energy adoption at vast scale, variability remains a second obstacle – though likely not for much longer.
Because the sun shines when people are at work, and goes down before they get home and fire up air conditioners, furnaces and electronics, there is a mismatch between when most solar energy is produced and most is needed. The key to unlocking a match is energy storage – what Deutsche bank calls “the missing link of solar adoption.”
This was the year that breakthroughs in energy storage became inevitable with Tesla first out of the gate and other companies following close behind. With firms such as GE and Lockheed Martin now part of the contest, hundreds of millions of dollars of capital is flowing toward research, development and commercialization.
In fact, Deutsche Bank predicts energy storage is headed toward market readiness, with incremental storage costs likely to drop from about 14 cents per kilowatt-hour to about 2 cents within the next five years.
3. Clean Power Plan enjoys a head-start
The recently finalized Clean Power Plan puts long-overdue limits on carbon pollution from America’s power plants and will cut emissions by more than 30 percent by 2030, while preventing 90,000 childhood asthma attacks annually.
The interesting trend here is that while compliance is not required until 2022, many states are earning a big head start. Just look at Texas. While some politicians in Austin were quick to denounce the pollution limits as unaffordable, the facts paint a very different story.
The sky is not falling, it turns out. The sky is generating wind power.
Thanks in part to West Texas wind, current trends alone can carry the state to 88 percent of its 2030 power plant pollution reduction goal, while generating clean energy jobs and economic growth.
4. Fossil fuel scrutiny ramps up
While trends suggest a bright future for renewable energy, fossil fuels continue to produce two-thirds of the energy we use. But scrutiny is growing from the public, investors and the media.
2015 was the year methane popped on the national energy policy agenda. It’s a key issue because every ounce of methane emissions undermines the potential climate benefits of natural gas relative to other traditional fuels. New federal methane rules are a first step to meeting scrutiny with solutions and mark a needed trend toward regulating this potent greenhouse gas.
As New York City Comptroller Scott Stringer recently put it, “As long-term investors, we understand that strong methane emissions regulations will help to stimulate capital investment in the energy sector, reduce reputational risk and improve performance.”
5. Corporate climate action goes mainstream
General Motors. Walmart. Goldman Sachs. IKEA. These are just a few of the 81 companies that are already supporting the White House’s climate initiative in the run-up to the United Nations-led climate talks in Paris this fall. All signed the American Business Act on Climate Pledge.
This outpouring of corporate support shows that climate action has finally gone mainstream. And it’s no wonder. With Americans acknowledging the reality of climate change by increasing margins, and supporting action to cut fossil fuel pollution by a clear majority, the signal to business leaders is unequivocal.
And because getting ahead of climate can unlock new business models, energy savings and lesser risk, the business case is a stool with many solid legs.
2015 is the year when we can truly say that our national energy landscape began to change in tandem with climate awareness. So much so that even some lawmakers who resisted change may now be reaching a tipping point.
Link: https://www.edf.org/blog/2015/10/29/5-energy-trends-driving-climate-progress-2015
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SolarCity to slow growth and focus on cost reduction
Oct 29, 2015 | PV Magazine
By Christian Roselund
SolarCity has been on a path of very strong growth over the past few years, nearly doubling installations every year. During the third quarter of 2015 the company installed 256 MW of solar PV and booked 345 MW, an increase of 86% and 50% year-over-year respectively.
This slower rate of bookings compared to installed solar is where SolarCity is intentionally heading. In its third quarter 2015 results call, the company has announced a new strategy where it will only seek to grow 40% annually and reduce costs with the aim to become cash-flow positive by the end of 2016.
The timing of this to coincide with the pending drop-down of the U.S. investment tax credit to 10% at the beginning of 2017 is not accidental. “The competitive landscape is going to be completely different, and we are taking action now to make sure that we are the leader at that point,” notes CEO Lyndon Rive.
SolarCity has already done an enviable job of reducing costs. Even with a US$0.64 customer acquisition cost, the company reported an average system cost of $2.84 per watt, a very slight decrease year-over-year. With its new focus on cost reduction, SolarCity expressed confidence that it will reach its goal of installing solar at $2.50 per watt in 2017, and that it expects to remain cash-positive that year as well, despite the ITC drop-down.
In terms of other metrics, it is always challenging to measure SolarCity's progress using conventional measures, given both the company's strategy of creating long-term value and its investment in rapid growth.
SolarCity brought in $114 million in revenue during Q3, with a loss from operations of $191 million. However, it retains plenty of available cash, with $418 million in cash and short-term investments.
“The last nine years its all been about growth, to improve scale,” explains Rive. “When you are growing at 80%, you have to make big, big investments, but you are only going to see the results of these investments 2-3 quarters later.”
The company added 298,000 customers during the quarter, and ended the quarter with 1.6 GW of energy contracts and a net retained value of $3.3 billion in the PV systems it has deployed.
In addition to the 19 U.S. states that SolarCity is present in, the company also installed its first PV systems in Mexico during the third quarter, as its first international expansion. SolarCity says that it will be moving slowly and incrementally with international expansions.
Finally, SolarCity says that it is on track to ramp production from its “gigafactory” in Upstate New York during the first half of 2016, and notes that results from its technology are better than its expected. Related News:
Link: http://www.pv-magazine.com/news/details/beitrag/solarcity-to-slow-growth-and-focus-on-cost-reduction_100021788/#axzz3prbHcLjs
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