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SFCE Nov 24
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Shunfeng and state nuclear subsidiary promote large-scale clean energy in ‘regions such as Europe
Nov 23, 2015 | PV Tech
By Andy Colthorpe
Shunfeng International Clean Energy (SFCE) and a branch of the state-owned China General Nuclear Power Group have signalled their shared intent to develop clean energy facilities in regions including Europe. Shunfeng owns PV module manufacturer Suntech and a number of other interests, including the a Germany-based ... -
Shunfeng, CGN tie up on PV, storage, energy-efficient solutions in Europe
Nov 23, 2015 | Recharge
By Brian Publicover
Shunfeng International Clean Energy (SFCE) and a unit of China General Nuclear Power have agreed to collaborate on the development of PV, energy storage and energy-efficient technologies. CGN European Energy and SFCE — the Changzhou-based owner of Suntech — signed the strategic cooperation... -
SFCE inks clean energy cooperation with CGN European Energy
Nov 23, 2015 | See News Renewables
By Mariyana Yaneva
Chinese Shunfeng International Clean Energy Ltd (HKG:1165), or SFCE, today announced it signed a strategic cooperation agreement on clean energy with CGN European Energy, a subsidiary of the China General Nuclear Power Group. The two companies will actively team up on solutions in the field... -
SFCE partners with CGN European Energy to provide clean energy solutions
Nov 23, 2015 | Energy Business Review
Shunfeng International Clean Energy (SFCE) has entered into a strategic cooperation agreement China General Nuclear Power Group’s subsidiary CGN European Energy for providing various environmental and energy solutions. Shunfeng International Clean Energy (SFCE) has entered into a strategic cooperation agreement China General... -
China’s CGN Power enters Malaysian energy market
Nov 24, 2015 | GB Times
China General Nuclear Power Group (CGN) has signed an agreement worth $2.27 billion to acquire the entire power assets of 1Malaysia Development Berhad (1MDB), China News Service reported. Announced on Monday in Kuala Lumpur, the deal marks the state-owned company's first foray into the Malaysian energy market as a part of ... -
COP21: Microsoft, HSBC and others declare private sector ’responsibility’ to act on climate
Nov 24, 2015 | PV Tech
By Andy Colthorpe
The CEOs of almost 80 companies, operating in more than 150 countries, have put their names to an open letter urging governments and businesses to act on climate change. Published yesterday, the bosses of companies as diverse as HSBC Holdings, Microsoft, Nestlé, Dow Chemical Company and Unilever declared that the private ... -
$45 million Solyndra settlement behind Trina Q3 loss, despite 1.7 GW record shipments
Nov 23, 2015 | PV Magazine
By Jonathan Gifford
With soaring shipment volumes and strong project growth, Trina joins many major solar module manufacturers in registering a successful Q3. However the presence of a ghost of solar’s past and currency exchange losses has resulted in Trina registering a $20 million loss for the quarters. -
Trina returns to quarterly losses on Solyndra lawsuit hit
Nov 23, 2015 | Recharge
By Karl-Erik Stromsta
Trina Solar took a $45m hit in the third quarter after settling a longstanding lawsuit with bankrupt US module maker Solyndra, forcing the world’s largest supplier of PV modules back into the red ink. Two years after rebounding to profitability in the wake of the last industry downturn, Trina posted a net loss of $20m ... -
China Again Tops for Clean Energy Investment, Study Shows
Nov 24, 2015 | BNA Daily Environment Report
China, the world's biggest emitter of carbon pollution, continues to hold the top position as the best developing country in which to invest in clean energy, according to a study by Climatescope, a research project whose partners include Bloomberg New Energy Finance and the U.K. Department for International Development. -
Looking for Volatility? Try Germany's Shift to Renewable Energy
Nov 24, 2015 | Bloomberg
By Weixin Zha
Germany’s shift to renewable energy has created a power market so volatile that humans are having trouble keeping up with it. Four-year-old Grundgruen Energie GmbH, whose glass-walled office is just off Berlin’s most fashionable shopping street, uses a coping technique more likely found in markets for stocks -
11 Best Countries in Renewable Energy
Nov 24, 2015 | Indsider Monkey
By Ty Haqqi
Renewable energy is the future of the world, which means that these 11 best countries in renewable energy are way ahead of the rest of the planet. Everyone knows fossil fuels not only harm the atmosphere but are non-renewable, that is to say, they are not permanent and will end some day. On the other hand, renewable energy refers to energy ... -
782 Richest People Could Power Half the World With 100% Renewable Energy
Nov 23, 2015 | EcoWatch
The personal fortunes of the 782 wealthiest people on the planet, many CEOs of major corporations, could power Africa, Latin America and most of Asia with 100 percent renewable energy by 2030, said Friends of the Earth International in a new report released today. -
One Step Closer to 50 Percent Renewable Energy by 2030 in New York State: It's Getting Real Now
Nov 23, 2015 | Natural Resources Defense Council Blog
By Kit Kennedy
The New York Times reported today that Governor Cuomo will direct the New York Public Service Commission to adopt a requirement that New York achieve 50 percent of its electricity from renewable sources like solar, wind and offshore wind by 2030. New York's "energy czar," Richard Kauffman, New York's Chairman of Energy and Finance... -
Alberta’s new climate plan targets 30% renewable energy integration by 2030
Nov 24, 2015 | PV Magazine
By Conor Ryan
A new set of renewable energy guidelines and targets set down by the government of Alberta, known as the Climate Leadership Plan, has been introduced in order to push the province’s transition from coal to new green energy options. Features of the new plan include setting emissions limits for oil sands and introducing new programs designed to improve energy efficiency, spur green technology innovation and cut down methane emissions. -
Australian offgrid push may leave unfair burden of grid costs
Nov 24, 2015 | PV Magazine
By Jonathan Gifford
The movement towards solar+storage Down Under is clear. The combination of high and rising utility bills, meager and falling solar feed-in tariffs and a fleet of over 1.4 million solar households is driving an uptake of battery storage. But it might be a poor outcome when considering how Australia’s vast electricity network upgrades will be paid for. -
Trina Solar hits industry record quarterly shipments of over 1.7GW
Nov 23, 2015 | PV Tech
By Mark Osborne
Updated: Leading ‘Silicon Module Super League (SMSL) member Trina Solar has reported record module shipments in the third quarter of 2015, surpassing previous guidance and setting a new quarterly shipment record in the PV industry. Trina Solar reported shipments of 1,703.2MW...
Press Release - SFCE Signs Strategic Cooperation Agreement with CGN European Energy
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Shunfeng and state nuclear subsidiary promote large-scale clean energy in ‘regions such as Europe
Nov 23, 2015 | PV Tech
By Andy Colthorpe
Shunfeng International Clean Energy (SFCE) and a branch of the state-owned China General Nuclear Power Group have signalled their shared intent to develop clean energy facilities in regions including Europe.
Shunfeng owns PV module manufacturer Suntech and a number of other interests, including the a Germany-based operations and maintenance (O&M) firm launched in October, Raising Power. A month before that the company also bought project developer SAG Solarstrom, also from Germany, which had become insolvent.
A statement announcing the strategic agreement with China General Nuclear Power Group subsidiary CGN European Energy was fairly unclear on the exact scope of the partnership between the two. However, the CEO of CGN European Energy, Lu Wei, revealed that the companies were likely to focus on large-scale clean energy projects in Europe.
“The cooperation is mutually beneficial, fully leveraging our capital, as well as our market and technology advantages in the clean energy sector. It is aimed at promoting large-scale clean energy applications in regions such as Europe, and facilitates the rapid development of clean energy around the world,” Lu Wei said, talking up Shunfeng’s experience in developing PV power plants, energy storage and in O&M.
Wei said that as well as nuclear, his own company had been involved in overseas projects in clean energy, in managing assets, mergers and acquisitions as well as development and construction.
In September 2014, parent company China General Nuclear Power Group raised US$227 million in an IPO on the Hong Kong Stock Exchange for renewables, exceeding an expected US$197 million. That amount was raised for another subsidiary, Meiya Power.
Opportunities for utility-scale are much less apparent in Europe than they had been in the past few years, although they do exist. Germany is holding auctions to tender 1.2GW of large-scale solar between now and 2017, while Turkey’s utility-scale market is starting to gather interest, with fellow vertically integrated Chinese PV manufacturer Yingli Green recently completing its first project there.
Link: http://www.pv-tech.org/news/shunfeng-and-state-nuclear-subsidiary-promote-large-scale-clean-energy-in-r
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Shunfeng, CGN tie up on PV, storage, energy-efficient solutions in Europe
Nov 23, 2015 | Recharge
By Brian Publicover
Shunfeng International Clean Energy (SFCE) and a unit of China General Nuclear Power have agreed to collaborate on the development of PV, energy storage and energy-efficient technologies.
CGN European Energy and SFCE — the Changzhou-based owner of Suntech — signed the strategic cooperation agreement in Paris, as part of their joint efforts to “deliver solutions to counter global carbon emissions.”
They did not reveal the terms of the deal, but they said that they plan to build large-scale projects in various parts of the world, including Europe.
“SFCE is driving a business transition towards energy as a service, including clean energy production, as well as energy storage and management,” SFCE executive director and CEO Eric Luo said in an online statement.
The ambitious group — which has aggressively expanded into foreign markets in recent years — reported a 172.5m yuan ($27.1m) net profit in the first half.
In late October, it finished installing a number of technologies — including rooftop PV, ground-source heat pumps and LED lighting — at a school in Shanghai.
It was the first project under a new strategy that will see it leverage the strengths of its various subsidiaries to deliver a diverse range of energy solutions to clients.
CGN European Energy’s Beijing-based parent, meanwhile, has been particularly active in wind development, most recently with its plans to build the second 152MW phase of the Rudong inter-tidal wind project off the coast of China’s Jiangsu province.
Link: http://www.rechargenews.com/solar/1417539/shunfeng-cgn-tie-up-on-pv-storage-energy-efficient-solutions-in-europe
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SFCE inks clean energy cooperation with CGN European Energy
Nov 23, 2015 | See News Renewables
By Mariyana Yaneva
Chinese Shunfeng International Clean Energy Ltd (HKG:1165), or SFCE, today announced it signed a strategic cooperation agreement on clean energy with CGN European Energy, a subsidiary of the China General Nuclear Power Group.
The two companies will actively team up on solutions in the field of photovoltaics (PV), energy storage, energy management, low-carbon energy saving solutions and hi-tech.
"Through strategic acquisitions and integration, SFCE is driving a business transition towards energy as a service, including clean energy production, as well as energy storage and management," said Eric Luo, executive director at SFCE.
"Against the backdrop of changes in the global energy landscape, China General Nuclear is fully implementing the national strategy of 'Go Global'," said Lu Wei, CGN European Energy CEO.
"The cooperation with SFCE is aimed at promoting large-scale clean energy applications in regions such as Europe, and facilitates the rapid development of clean energy around the world," he added.
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the largest low-carbon, integrated, clean energy generation provider globally. It is targeting the large-business segment with clean energy solutions suited to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households.
Link: http://renewables.seenews.com/news/sfce-inks-clean-energy-cooperation-with-cgn-european-energy-502728
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SFCE partners with CGN European Energy to provide clean energy solutions
Nov 23, 2015 | Energy Business Review
Shunfeng International Clean Energy (SFCE) has entered into a strategic cooperation agreement China General Nuclear Power Group’s subsidiary CGN European Energy for providing various environmental and energy solutions.
Shunfeng International Clean Energy (SFCE) has entered into a strategic cooperation agreement China General Nuclear Power Group's subsidiary CGN European Energy for providing various environmental and energy solutions.
The agreement was signed in Paris.
Both the companies plan to provide solutions to combat carbon emissions, offer clean energy, which involves PV, energy storage, energy management, low-carbon energy saving solutions and hi-tech as well as strengthening their partnership.
SFCE executive director and CEO Eric Luo said: "Through strategic acquisitions and integration, SFCE is driving a business transition towards energy as a service, including clean energy production, as well as energy storage and management.
"SFCE is committed to become the largest provider of integrated clean energy solutions, with best in class technology in PV manufacturing, PV power generation, EPC and O&M, as well as low-carbon energy saving solutions, that delivers energy and cost savings solutions to our customers and makes clean energy affordable and accessible.
"The strategic partnership will enhance the advantages possessed by both parties in the clean energy sector, allowing complementary efforts and achieving a win-win, exploration and promotion of clean energy technology and applications."
In May this year, SFCE has signed another strategic cooperation contract with the municipal government of Luoyang, Henan province, China for creating a green and low-carbon economy.
Under the agreement, both the parties expect to cooperate in undertaking different low-carbon, energy-saving projects in several sectors including industrial, commercial, residential and transport.
CGN European Energy CEO Lu Wei said: "Against the backdrop of changes in the global energy landscape, China General Nuclear is fully implementing the national strategy of 'Go Global.
"Besides nuclear energy, we are actively involved overseas in clean energy, including mergers and acquisitions, development and construction, as well as O&M and asset management in renewable energy projects, including wind power and solar energy.
"The cooperation is mutually beneficial, fully leveraging our capital, as well as our market and technology advantages in the clean energy sector.
"It is aimed at promoting large-scale clean energy applications in regions such as Europe, and facilitates the rapid development of clean energy around the world."
Energy Business Review: http://www.energy-business-review.com/news/sfce-partners-with-cgn-european-energy-to-provide-clean-energy-solutions-4734608
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China’s CGN Power enters Malaysian energy market
Nov 24, 2015 | GB Times
China General Nuclear Power Group (CGN) has signed an agreement worth $2.27 billion to acquire the entire power assets of 1Malaysia Development Berhad (1MDB), China News Service reported.
Announced on Monday in Kuala Lumpur, the deal marks the state-owned company's first foray into the Malaysian energy market as a part of long-term investment in clean energy. It is expected to be completed within six months.The leading independent power producer in Southeast Asia, also known as Edra, owns 13 power plants in five countries along the Belt and Road including Malaysia, Egypt, Bangladesh, Pakistan and the United Arab Emirates.
Subsidiary CGN European Energy on Sunday announced a strategic partnership with Hong Kong based Shunfeng International Clean Energy Limited, reports PR Newswire.The two will cooperate on clean energy production, as well as energy storage and management.
Link: http://gbtimes.com/china/chinas-cgn-power-enters-malaysian-energy-market
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COP21: Microsoft, HSBC and others declare private sector ’responsibility’ to act on climate
Nov 24, 2015 | PV Tech
By Andy Colthorpe
The CEOs of almost 80 companies, operating in more than 150 countries, have put their names to an open letter urging governments and businesses to act on climate change.
Published yesterday, the bosses of companies as diverse as HSBC Holdings, Microsoft, Nestlé, Dow Chemical Company and Unilever declared that the private sector “has a responsibility to engage actively in global efforts to reduce greenhouse gas emissions, and to help the world move to a low-carbon, climate-resilient economy”. Governments called upon to ‘take bold action’
In total, 78 CEOs across 20 economic sectors, claiming to have generated between them over US$2.1 trillion in 2014 alone. The letter stated that signatories and their companies were already acting to limit or combat the effects of climate change and requested that heads of governments take bold action when they convene in Paris for the multilateral COP21 talks on the climate, taking place next month.
The letter’s publication was facilitated by the World Economic Forum, the non-profit organisation which co-ordinates public-private partnerships in areas including international development.
The CEOs urged “the world’s leaders to reach an ambitious deal” in Paris, stating that each of their own companies had taken voluntary action to reduce their carbon footprint, that the message that climate change is a reality and not up for debate must get across to the public. The CEOs said their companies would all “actively manage climate risks” on their part. Carbon pricing
The coalition of CEOs said that fostering a low carbon economy would enable growth in both the developed and developing worlds. In order to do this, they claimed carbon pricing mechanisms internationally would be crucial.
“We support global mitigation approaches that promote cost effective incentives for cutting emissions, while respecting level playing fields and preventing carbon leakage,” the CEOs’ letter said.
The group also called for a strategic action agenda, where emissions levels would be firmly monitored, reported and verified at government level. This in turn could work alongside and inform the efforts of businesses to decarbonise.
There is also a lack of “transparency and disclosure” when it comes to financial investing and in energy policy, the bosses argued. Along with the call to arms on carbon pricing, the company heads said efficiency and clean energy needed to be supported with new financial instruments. More transparent and more accountable assessments of the risk posed by climate were also needed, the letter said.
Finally, the CEOs’ letter said the signatories wanted governments to set emissions reduction and clean energy targets that were “science-based” at national and global level.
Names from solar and related industries such as Gao Jifan of Trina Solar, Ulrich Spiesshofer of ABB, Francesco Starace of Enel, Ignacio S Galán of Iberdrola, Eric Luo of Shunfeng International Clean Energy and Vineet Mittal of Welspun Energy were among those that put their names to the letter. In addition were CEOs from a broad range of other sectors, including finance, steel, software, recruitment, automation and food and drink.
Link: http://www.pv-tech.org/news/cop21-microsoft-hsbc-and-others-declare-private-sector-responsibility-to-ac
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$45 million Solyndra settlement behind Trina Q3 loss, despite 1.7 GW record shipments
Nov 23, 2015 | PV Magazine
By Jonathan Gifford
With soaring shipment volumes and strong project growth, Trina joins many major solar module manufacturers in registering a successful Q3. However the presence of a ghost of solar’s past and currency exchange losses has resulted in Trina registering a $20 million loss for the quarters.
Trina set aside $45 million in Q3, for the settlement of an antitrust lawsuit brought by failed U.S. thin film company Solyndra’s trustees. It also sustained a $13.1 million foreign currency exchange loss in the quarter, primarily as a result of RMB depreciation against the U.S. dollar. These two events have resulted in a temporary quarterly loss for Trina.
"We have entered into a settlement with Solyndra to avoid a burdensome and protracted litigation,” said Trina Solar CEO Jifan Gao. “The resolution to the litigation with Solyndra puts this matter behind us and allows us to focus our attention and resources on our business."
In 2012 the Solyndra trustee initiated legal proceedings against Trina, along with Suntech and Yingli. The antitrust lawsuit related to findings of dumping from Chinese manufacturers into the U.S. market, which the Solyndra trustees had argued had damaged the failed thin film manufacturers prospects in the market.
Despite this black spot, Trina recorded a strong Q3, with module shipments reaching 1.7 GW, a record for the company. Module shipments increased 38.3% Q/Q and 60.1% Y/Y. Of these shipments, 350 MW went to Trina’s in-house PV power plant projects.
Trina grid connected 251.9 MW of PV in Q3, including 38.9 MW of distributed generation projects. Margins on Trina’s project development business remain high, with its “build-to-own” projects bringing revenues of $10.2 million in Q3, on a gross margin of 66.9%. Distributed generation projects can be as large as 10 MW in China.
Trina registered revenues of $792.6 million in Q3, up 9.6% Q/Q and 16.7% Y/Y. The company’s gross margins were down slightly in Q3, to 17.4%, compared to 20% in Q2, 2015. Trina reports that this was due to a higher proportion of shipments going to China itself, or to PV markets such as India.
“We shipped a record 1.7 GW of modules, which enables us to achieve a significant milestone of over 15 GW of module shipments cumulatively since our inception,” said CEO Gao, in a statement. “We maintained strong growth momentum in China and the U.S., with record shipments to both markets and continued to execute our strategy to increase our presence in new and emerging markets, such as India and Thailand.” Gao added that emerging PV markets now represent Trina’s third largest shipment destination.
The Trina CEO also pointed to efficiency highlights in Q3. Its p-type multicrystalline R&D cell record of 21.3% was one such bright spot, as was its heterojunction process – with a 22% cell efficiency being achieved.
“In addition, we introduced a 'Desert Double Glass' module for hot and dry climates that will be ready for production by the end of the year,” said Gao.
Trina has upped its Q4 shipment forecast from 1.35 GW to 1.45 GW to 1.5 GW to 1.65 GW. It expects to connect between 280 GW and 320 MW in Q4.
On the back of the strong shipment volumes, Trina has raised its 2015 guidance to 5.5 GW to 5.6 GW, up from original guidance of 4.9 to 5.1 GW for 2015. This represents growth of 50.3% to 53% Y/Y.
Trina Solar closed Q3 with $486.1 million in cash and equivalents on borrowings of $1.173 billion, of which $1.0053 billion are short term borrowings.At the end of Q3, Trina's capacity stood at 2.3 GW ingot, 1.8 GW wafer, 3.4 GW cell and 4.7 GW module.
Link: http://www.pv-magazine.com/news/details/archive/2015/november/beitrag/45-million-solyndra-settlement-behind-trina-q3-loss--despite-17-gw-record-shipments_100022091/#axzz3sPfsUN1Y
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Trina returns to quarterly losses on Solyndra lawsuit hit
Nov 23, 2015 | Recharge
By Karl-Erik Stromsta
Trina Solar took a $45m hit in the third quarter after settling a longstanding lawsuit with bankrupt US module maker Solyndra, forcing the world’s largest supplier of PV modules back into the red ink.
Two years after rebounding to profitability in the wake of the last industry downturn, Trina posted a net loss of $20m for the third quarter of 2015. That loss compares to a net profit of $41m in the previous quarter, and a $10.6m profit in the third quarter of last year.
Solyndra, a maker of novel thin-film panels, went bankrupt in 2011 after receiving a $535m loan guarantee from the US government. Its bankruptcy created significant political headwinds for the US solar industry.
The following year Solyndra filed a lawsuit against Trina, Suntech and Yingli – the world’s three largest module suppliers at the time – alleging that the trio had colluded to reduce their prices in the US, with an eye toward driving their US rivals into bankruptcy.
At the time, Trina said the lawsuit was “without merit” and insisted it would “vigorously defend itself against the baseless allegations”.
On the latter point, however, Trina appears to have given up.
Trina settled the lawsuit with Solyndra on 17 November, the company says, agreeing to pay $45m by the end of this year. In exchange, all of Solyndra’s claims against the company have been dropped. Trina has not admitted to any wrongdoing in the case.
Earlier this year the US chose to maintain its anti-subsidy and anti-dumping trade tariffs on Chinese solar manufacturers, which were first put in place in 2012.
Aside from the one-off Solyndra knock and adverse currency fluctuations, Trina’s third-quarter results “came in ahead of our expectations”, says chief executive Jifan Gao.
Total module shipments grew 60% year on year to 1.7GW, and the 252MW of capacity its projects arm connected to the grid during the quarter far exceeded the company’s 190MW guidance.
Trina’s quarterly revenue grew 29% year on year, to $793m.
Trina’s position in the global solar industry is bolstered by the serious financial challenges facing its closest Chinese rival, Yingli.
Trina, expected to claim a roughly 10% share of the global module market in 2015, recently surpassed 15GW of cumulative shipments.
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China Again Tops for Clean Energy Investment, Study Shows
Nov 24, 2015 | BNA Daily Environment Report
China, the world's biggest emitter of carbon pollution, continues to hold the top position as the best developing country in which to invest in clean energy, according to a study by Climatescope, a research project whose partners include Bloomberg New Energy Finance and the U.K. Department for International Development.
The nation scored highest for a second consecutive year in an analysis of 55 emerging market nations including South Africa, Uruguay and Kenya that mapped important progress in the areas of spending, capacity deployment and policy development. Brazil and Chile followed China in the rankings, according to Climatescope scores, which were based on data from 2014.
“The year brought further proof that the clean energy center of gravity is shifting inexorably from ‘north’ to ‘south,’ from developed to developing countries,” according to the executive summary of the report released Nov. 23.
In 2014, China added 35 gigawatts of new renewable power generating capacity—greater than all the capacity online today in sub-Saharan Africa's 49 nations combined, excluding South Africa and Nigeria—and attracted $89 billion in all types of new clean energy capital, the report said.
The report comes as world leaders prepare to gather for climate talks in Paris, where representatives from more than 190 countries will work on an agreement to set a global framework to address climate change, including limits on fossil fuel emissions that will apply for the first time to all nations. China has become a driving force for a possible deal in the French capital.
Latin America Dominates
Latin America dominated the list of top emerging nations for clean energy investments, as governments across the region step up efforts to diversify their power supplies.
Brazil, Chile, Mexico and Uruguay attracted almost $20 billion in clean energy investments last year, 16 percent of the total directed to the top 10 countries on Climatescope's ranking. A total of $14 billion was committed to clean energy projects in Brazil in 2014, almost double the figure for 2013.
The region accounted for 14 of the top 30 countries evaluated for their ability to attract capital for low-carbon energy projects, with $23 billion in total investments last year, up 49 percent from 2013.
“Latin America boasts higher clean energy penetration than any other region assessed on Climatescope,” said Ethan Zindler, a New Energy Finance analyst. “There is an explicit proactive effort in the policy side in these countries. There is also an openness to the private sector to participate in the energy generation sector.”
Of 26 Latin American and Caribbean nations surveyed, 10 have adopted targets to generate or consume specific amounts of clean energy, according to the report. In addition, 12 countries have held or plan to hold auctions where clean energy project developers compete for power contracts.
“That creates opportunities to new players,” Zindler said.
Chile Surpasses India
India ranked fifth among 55 developing nations, down one slot from a year ago, according to the survey. It was displaced by Chile, which ranked third behind China and Brazil.
The findings are a reminder that developing nations are increasingly competing for capital to fulfill their ambitions for producing more electricity without increasing pollution. With environmental groups concerned that India's cities, including New Delhi, have some of the dirtiest air in the world, Prime Minister Narendra Modi's government is under pressure to spur renewables as an alternative to more polluting fossil fuels.
The research showed enthusiasm in the industry for Modi's goal to stimulate 175 gigawatts of renewable energy. That includes 100 gigawatts of solar by 2022, up from about 4 gigawatts now.
Elected in 2014, Modi's government brought in green policies that are only now starting to have an impact, said Bharat Bhushan Agrawal, an analyst for BNEF.
“For example, in 2015 we see new permits of almost 10 gigawatts of solar being issued and work on improving the transmission lines for clean energy expedited,” Agrawal said.
Key government policies include quintupling solar target for 2022 to 100 gigawatts under the National Solar Mission and an effort to achieve 20 percent biofuel content in motor fuels by 2017. Modi is seeking $200 billion of investment to fund India's clean energy ambitions.
The Climatescope assessment includes 10 Indian states with top clean energy activity. They are: Tamil Nadu, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Gujarat, Uttar Pradesh, Andhra Pradesh, Punjab and West Bengal.
Capacity Additions
Among the 54 other nations in the Climatescope study, 15.5 gigawatts of new clean energy capacity was added in 2014, up 64 percent from a year earlier. Emerging markets are now installing capacity at twice the rate as wealthier Organization for Economic Cooperation and Development nations, according to the report.
For the first time, more than half of all new annual investment in clean energy projects went to emerging countries, the findings showed.
Among the 55 countries studied, new investment in renewable power generation surged to $126 billion in 2014, up 39 percent from 2013, the analysis found.
With assistance from Vanessa Dezem in Sao Paulo and Anindya Upadhyay in New Delhi.
Link (subscription): http://news.bna.com/deln/DELNWB/split_display.adp?fedfid=79540687&vname=dennotallissues&fn=79540687&jd=79540687
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Looking for Volatility? Try Germany's Shift to Renewable Energy
Nov 24, 2015 | Bloomberg
By Weixin Zha
Germany’s shift to renewable energy has created a power market so volatile that humans are having trouble keeping up with it.
Four-year-old Grundgruen Energie GmbH, whose glass-walled office is just off Berlin’s most fashionable shopping street, uses a coping technique more likely found in markets for stocks, bonds and currencies: It lets a computer program do the hard stuff. About nine other trading firms are doing the same in the German market, most starting just last year, according to an estimate by the Epex Spot SE exchange in Paris. Grundgruen Energie GmbH offices Photographer: Krisztian Bocsi/Bloomberg
The price movements in the nine-year-old intraday German power market are “about 200 times that of financial markets,” said Karl Frauendorfer, a professor of operations research at University of St. Gallen in Switzerland who has worked with electricity traders for almost 20 years. “The volatility makes it impossible for humans to efficiently comply with risk limits.”
German Chancellor Angela Merkel’s commitment to green energy has led to a three-fold increase in solar and wind power in the past decade as well as an exit from more predictable nuclear. The intermittent renewable output has made traders increasingly focus on hourly or 15 minutes electricity contracts to quickly react to changes in weather that alter the power supply. That’s increased the need for algorithmic computer programs that can do the buying and selling on their own.
“Trading is requiring ever more rapid decision-making,” Eberhard Holstein, the founder and chief executive officer of Grundgruen, said. “Automated trading is without question a competitive advantage, we can see that in our books.”
Here’s an example of how it works. On a cloudy Oct. 7, solar output was the lowest since March at 37.5 gigawatt-hours compared with an annual average of 93 gigawatt-hours. At Grundgruen’s office, minutes from Kurfuerstendamm, a red flash appeared every few seconds and jumped around on one of the company’s computer screens.
As power prices climbed and fell with the output of more than 1.5 million photovoltaic plants and wind mills in Germany, Gundgruen’s computer robot was busy buying and selling on Epex’s market for any of the day’s 24 hour-long segments or the 96 15-minute periods. The potential profit was there as prices fluctuated from 0 to 84 euros per megawatt-hour.Algorithms Role
While algorithms -- computer programs that detect slight price variations -- trade 40 to 50 percent of European bonds and stocks, they’re used for less than 10 percent in European gas and power so far, according to Intalus GmbH, a financial software provider.
Many companies, including Statkraft AS, EnBW AG and Axpo AG, use the programs as support rather than letting them trade directly. Axpo employs them for only for 1 percent of trades in German power and carbon permits, James Isilay, an algorithmic trader at the Swiss utility, said.
Bigger utilities with gas or coal plants can balance intermittent solar and wind output, something that companies with solely renewables can’t. Instead they must forecast and trade their volatile output carefully, Ralf Burgdorf, Grundgruen’s head of trading and generation, said. The company sells renewable generation with a capacity equivalent to three nuclear reactors.
At Grundgruen and its peers, computers take over after traders sell the expected output from solar and wind farms based on the weather forecast from the day before. As production diverges from the prognosis, a computer algorithm makes sure that the amount of electricity sold matches what is produced, while also weighing prices and transaction cost.Trader’s Role
During the day a Grundgruen trader can decide to override an order set by the computer. At night the robots are pretty much on their own, unless difficult weather conditions are forecast. Other companies rely even more on the machines. At Kom-Solution GmbH, a German energy trader owned by five municipal utilities, trading is left to the computers overnight and on weekends, saving costs.
Even though it’s still the minutes, not seconds, that count for computers trading on the power market, the work of traders is changing as Germany aims to double renewable generation to 60 percent within 20 years.
“In the 90s, it was the Gordon Gekko guy, settling things over the phone with exclusive information,” Andreas Keil, chief executive officer of Energy2Market GmbH, said. His company also uses computers to trade that are monitored around the clock by employees. "There was the classical trader with 12 screens in the 2000s and increasingly it’s a person with math skills dealing with algorithms."
Link: http://www.bloomberg.com/news/articles/2015-11-24/looking-for-volatility-try-germany-s-shift-to-renewable-energy
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11 Best Countries in Renewable Energy
Nov 24, 2015 | Indsider Monkey
By Ty Haqqi
Renewable energy is the future of the world, which means that these 11 best countries in renewable energy are way ahead of the rest of the planet. Everyone knows fossil fuels not only harm the atmosphere but are non-renewable, that is to say, they are not permanent and will end some day. On the other hand, renewable energy refers to energy whose sources are permanent, or in layman terms the sources will never run out; examples of resources for renewable energy are the wind, water and sunlight.
Of course, as is true for any new technology, shifting from non-renewable to renewable energy has resulted in a lot of controversy, with many believing it will not be sufficient for the energy needs of the world, while others simply oppose it on the belief that establishing windmills and solar panels will affect the beauty of their area. We are sure that the 11 best countries in robotics faced some opposition as well.
We tried to determine the countries which have already realized the potential of renewable energy and are doing their best to exploit it. While ‘best’ is a subjective term, we took it to mean a country which produces a considerable amount of electricity from renewable energy as well as a country whose electricity generation from renewable energy production is a large percentage of its total electricity production. We used multiple criteria in order to create a more objective ranking. For example, while China produces the most electricity from renewable energy, it only makes up a small percentage of its total electricity production, which is why the country doesn’t even place in the top 10.We traced our information from International Energy Statistics.
Without further ado, here is the list of best countries in renewable energy, starting from No. 11.
11. Kyrgyzstan
Total electricity produced from renewable energy (in terawatt-hours per year): 14.037
Ranking according to electricity produced from renewable energy:40
Total electricity produced from renewable energy as a percentage of total electricity produced: 93.79%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 15
Overall score: 27.510. Zambia
Total electricity produced from renewable energy (in terawatt-hours per year): 11.696
Ranking according to electricity produced from renewable energy: 46
Total electricity produced from renewable energy as a percentage of total electricity produced: 99.71%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 7
Overall score: 26.5
Vadim Petrakov/Shutterstock.com 9. Tajikistan
Total electricity produced from renewable energy (in terawatt-hours per year): 16.731
Ranking according to electricity produced from renewable energy: 35
Total electricity produced from renewable energy as a percentage of total electricity produced: 95.45%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 14
Overall score: 24.5
Rosliak Oleksandr/Shutterstock.com 8. Canada
Total electricity produced from renewable energy (in terawatt-hours per year): 397.344
Ranking according to electricity produced from renewable energy: 4
Total electricity produced from renewable energy as a percentage of total electricity produced: 64.48%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 44
Overall score: 24
Elena_Suvorova/Shutterstock.com 7. Austria
Total electricity produced from renewable energy (in terawatt-hours per year): 50.881
Ranking according to electricity produced from renewable energy: 18
Total electricity produced from renewable energy as a percentage of total electricity produced: 78.39%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 26
Overall score: 22
Andrew Mayovskyy/Shutterstock.com 6. Colombia
Total electricity produced from renewable energy (in terawatt-hours per year): 47.661
Ranking according to electricity produced from renewable energy: 19
Total electricity produced from renewable energy as a percentage of total electricity produced: 82.44%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 24
Overall score: 21.5
Jess Kraft/Shutterstock.com 5. Mozambique
Total electricity produced from renewable energy (in terawatt-hours per year): 14.994
Ranking according to electricity produced from renewable energy: 36
Total electricity produced from renewable energy as a percentage of total electricity produced: 99.87%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 6
Overall score: 21
Simon_g/Shutterstock.com 4. Iceland
Total electricity produced from renewable energy (in terawatt-hours per year): 17.423
Ranking according to electricity produced from renewable energy: 33
Total electricity produced from renewable energy as a percentage of total electricity produced: 99.98%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 4
Overall score: 18.5
Filip Fuxa/Shutterstock.com 3. Brazil
Total electricity produced from renewable energy (in terawatt-hours per year): 451.476
Ranking according to electricity produced from renewable energy: 3
Total electricity produced from renewable energy as a percentage of total electricity produced: 83.98%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 22
Overall score: 12.5
Kanokratnok/Shutterstock.com 2. Norway
Total electricity produced from renewable energy (in terawatt-hours per year): 142.412
Ranking according to electricity produced from renewable energy: 8
Total electricity produced from renewable energy as a percentage of total electricity produced: 98.47%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 12
Overall score: 10
Sergey_Bogomyako/Shutterstock.com And the best country in renewable energy is…… Paraguay
Total electricity produced from renewable energy (in terawatt-hours per year): 59.63
Ranking according to electricity produced from renewable energy: 16
Total electricity produced from renewable energy as a percentage of total electricity produced: 99.99%
Ranking according to electricity produced from renewable energy as a percentage of total electricity produced: 2
Overall score: 9
Link: http://www.insidermonkey.com/blog/11-best-countries-in-renewable-energy-385632/
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782 Richest People Could Power Half the World With 100% Renewable Energy
Nov 23, 2015 | EcoWatch
The personal fortunes of the 782 wealthiest people on the planet, many CEOs of major corporations, could power Africa, Latin America and most of Asia with 100 percent renewable energy by 2030, said Friends of the Earth International in a new report released today.
Launched seven days before the UN climate summit in Paris, the report illustrates that the finance for an energy revolution certainly exists, while the political will to drive the transformation is so far shockingly absent.
Some of the key finding of the report, An Energy Revolution is Possible, include: The wealth of the richest 53 people globally could power the whole of Africa with 100 percent renewable energy by 2030. The wealth of the richest 32 people could power most of Latin America with 100 percent renewable energy by 2030. $5,148 billion of extra investment would be required to generate half the world’s electricity with 100 percent renewables by 2030. This is an investment equal to the wealth currently held by 0.00001 percent of the global population or 782 people.
“This report is a wake up call for policy makers and governments. Our world faces two destructive and entwined crises—growing inequality and climate change. The time has come to address them together,” said Sam Cossar-Gilbert of Friends of the Earth International.
Climate change is already happening—wreaking devastation on communities and ecosystems around the world. Without urgent and drastic action to reduce global greenhouse gas emissions, we face far worse runaway climate change, with impacts that would dramatically overshadow anything we see today and affect predominantly the poorer people and nations, which are the least responsible for climate change.
Energy production from fossil fuels is one of the main contributors to sky-high levels of carbon emissions and tackling it is central to stopping a climate disaster.
“Business as usual is now longer an option. Carbon emissions continue to rise. We need an energy revolution,” said Dipti Bhatnagar, Friends of the Earth International climate justice and energy coordinator.
“The energy transformation involves not just switching from fossil fuels to renewable energy, but also a deeper transformation including democratic ownership of renewable energy resources,” she said.
The comparisons with individual wealth are used as a stark reminder that the finance for halting dangerous climate change is certainly available. The report does not suggest that the wealth of some individuals can or should be directly used to drive the needed energy transformation.
Link: http://ecowatch.com/2015/11/23/rich-people-power-world-renewables/
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One Step Closer to 50 Percent Renewable Energy by 2030 in New York State: It's Getting Real Now
Nov 23, 2015 | Natural Resources Defense Council Blog
By Kit Kennedy
The New York Times reported today that Governor Cuomo will direct the New York Public Service Commission to adopt a requirement that New York achieve 50 percent of its electricity from renewable sources like solar, wind and offshore wind by 2030. New York's "energy czar," Richard Kauffman, New York's Chairman of Energy and Finance, has confirmed that this exciting news is real, explaining in a widely distributed email that: "Governor Cuomo will issue a mandate, called the Clean Energy Standard, to ensure that New York State will achieve 50% of its power from renewable sources by 2030." This is a huge step forward. The "50 by '30" goal was included in the State Energy Plan this year, but action by the Public Service Commission is needed to make this goal a reality that is measurable, implementable and enforceable. We're excited to learn all the details and are hoping for a formal announcement from the governor soon.
Governor Cuomo's new mandate will require New York State to get 50 percent of its electricity from renewable sources, like this upstate wind farm, by 2030. (photo: Chris Bentley via Creative Commons)
How significant is making the "50 x '30" goal a real, enforceable requirement?
It's a game changer. Governor Cuomo will cement his growing climate leadership by taking this bold action. By directing the Public Service Commission, which regulates the state's utilities and electric system, to adopt and implement enforceable policies needed to get half our electricity from renewable sources like wind and solar by 2030, Cuomo will win New York a place as one of the leaders nationally in this space. This ambitious but eminently achievable goal will slash carbon and other pollution while creating jobs and attracting private sector investment. This move builds upon the state's successful (and soon to expire) Renewable Portfolio Standard (RPS). New York's RPS has driven more than 2,000 megawatts of renewable projects--predominantly onshore wind, and more recently a significant expansion in rooftop solar as a result of the NY-Sun Initiative--all while driving over $2.7 billion of direct investments in the state economy. It's been highly cost-effective as well, generating roughly $3 of investment for every $1 of public support for the programs.
New York currently gets roughly 24 percent of its electricity from renewables. So more than doubling that number over the next 15 years will only be achieved through a combination of sustaining the strong political will being demonstrated by the governor, along with smart program implementation by the state. There will need to be robust budgets and implementation strategies that maximize the megawatts of renewables installed per public dollar invested. The state will also need to pursue strategies to accelerate the deployment of offshore wind power and solar projects both large and small. Just as important, greater clarity on how the state plans to scale up energy efficiency will be vital, since meeting demand with "negawatts" means chasing 50 percent of a smaller overall energy pie in 2030.
What about the upstate nuclear power plants?
The New York Times also reported -- and Richard Kauffman has confirmed -- that as part of the Clean Energy Standard, Governor Cuomo also plans to direct the Public Service Commission to develop a program to support the continued operation of several aging nuclear reactors located in Oswego County, near Lake Ontario, that have been operating in the red because natural gas and renewable electricity are cheaper and are out-competing them. The owners of these nuclear plants -- the Fitzpatrick and Ginna plants -- have announced plans to close them down because the plants are losing money, even though their operating licenses allow their continued operation for more than a decade longer. Kauffman has explained that New York's goal in seeking to prop up these plants is "not to lose ground in reducing climate emissions," while New York State builds its energy efficiency and renewable energy resources. While we don't have enough information yet to assess this part of the plan -- the details will be very important -- here are a few initial thoughts.
First, while nuclear power is a low-carbon technology, it is not the long-term solution to fighting climate change. And nuclear power is not clean or renewable: There are environmental, public health and safety concerns associated with every step of the nuclear fuel cycle. So New York State must take care to ensure that any program to provide economic support for the continued operation of the Central New York nuclear reactors will be kept totally separate from the "50 by '30" renewable energy requirement -- which must be firmly limited to truly renewable resources such as solar, wind and offshore wind -- and that support for nuclear power is absolutely never drawn from funds that are dedicated to renewable energy and energy efficiency. Importantly, Kauffman's note suggests that New York agrees: he says, "To be clear, nuclear sources will not count toward our 50% renewable mandate." However, even lumping the two programs together under a "clean energy standard" banner still runs the risk that these two programs will be confused and that support for renewable energy will be siphoned off to support existing power plants in the future.
Second, we will need more details and a thorough analysis of what it would cost of keeping these currently uneconomic reactors operating and whether keeping these plants running until 2030 is the best use of New York ratepayer funds.
Third, significantly, the Times reports that the Governor's proposal would be limited to the upstate nuclear reactors whose operating licenses still have many years to run, and would not include the Indian Point reactors in Westchester, located within 50 miles of over 17 million people, whose operating license is expiring. NRDC opposes the relicensing of Indian Point based on long-standing safety and environmental risks associated with that plant.
Bottom line: While important questions remain about the role of the Central New York reactors, the governor's move to establish a "50 by '30" enforceable renewable electricity requirement is another big step forward for clean energy in New York. We look forward to digging into the details and working with New York State and other stakeholders to build a program that will help boost our reserve of truly clean power sources -- wind, offshore wind, solar and efficiency -- while building the clean energy economy and helping to further reduce the state's reliance on the polluting energy sources of the past.
Link: http://switchboard.nrdc.org/blogs/kkennedy/one_step_closer_to_50_percent_.html
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Alberta’s new climate plan targets 30% renewable energy integration by 2030
Nov 24, 2015 | PV Magazine
By Conor Ryan
A new set of renewable energy guidelines and targets set down by the government of Alberta, known as the Climate Leadership Plan, has been introduced in order to push the province’s transition from coal to new green energy options.
Features of the new plan include setting emissions limits for oil sands and introducing new programs designed to improve energy efficiency, spur green technology innovation and cut down methane emissions.
Goals for the program include setting a target for 2030, in which renewable energy sources would make up 30% of Alberta’s electricity production.
Rachel Notley, Premier of Alberta, said: “Responding to climate change is about doing what’s right for future generations of Albertans – protecting our jobs, health and the environment. It will help us access new markets for our energy products, and diversify our economy with renewable energy and energy efficiency technology. Alberta is showing leadership on one of the world’s biggest problems, and doing our part.”
The plan was based on information provided by the Climate Change Advisory Panel, led by Dr. Andrew Leach, which weighed the opinions of thousands of Albertans and stakeholder groups this fall.
Murray Edwards, chair of Canadian Natural Resources Limited, said: “The announcement is a significant step forward for Alberta. We appreciate the strong leadership demonstrated by Premier Notley and her government. The framework announced will allow ongoing innovation and technology investment in the oil and natural gas sector. In this way, we will do our part to address climate change while protecting jobs and industry competitiveness in Alberta.”
As part of the plan, Alberta is set to cut out all pollution created by burning coal and transition to more renewable sources of energy by 2030. The province’s new methane reduction strategy is also expected to cut emissions by 45% from 2014 levels by 2025.
Notley added: “We are going to do our part to address one of the world’s greatest problems. We are going to put capital to work, investing in new technologies, better efficiency, and job-creating investments in green infrastructure. We are going to write a made-in-Alberta policy that works for our province and our industries, and keeps our capital here in Alberta.”
Link: http://www.pv-tech.org/news/albertas-new-climate-plan-targets-30-renewable-energy-integration-by-2030
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Australian offgrid push may leave unfair burden of grid costs
Nov 24, 2015 | PV Magazine
By Jonathan Gifford
The movement towards solar+storage Down Under is clear. The combination of high and rising utility bills, meager and falling solar feed-in tariffs and a fleet of over 1.4 million solar households is driving an uptake of battery storage. But it might be a poor outcome when considering how Australia’s vast electricity network upgrades will be paid for.
An array of battery providers have pushed into the growing Australian storage market and there is widespread sentiment from consumers that “going off grid” may offer protection from future electricity price hikes. This has even been encouraged by some comments from within the Federal Government, with Environment Minister Greg Hunt saying that it is “inevitable” that eventually households will begin to add large storage arrays and say goodbye to their electric utility forever.
“Already we have about 15 per cent of Australians, the highest level in the world, who have solar power,” Hunt told the Australian Broadcasting Corporation. “Increasingly we will see adoption of storage, which is the key thing that allows people to be off-grid.”
However Ric Brazzale, from Green Energy Trading, says that a large-scale move offgrid may not be a good thing for ratepayers generally.
“I think it would be a tragedy in some ways if we saw a failure to properly price networks, driving a lot of battery storage, making more networks redundant and then we have a vicious cycle,” Brazzale told pv magazine. “I think ultimately we have to fix up our network pricing and the network business will need to write down their assets because the value of their services can’t compete with PV and batteries.”
A debate is currently underway in Australia regarding grid pricing, with some grid operators arguing for an increased in fixed electricity charges to pay for grid assets. Total electricity demand in Australia has fallen in recent years as a result of rising electricity rates, increased energy efficiency in homes and the rollout of residential rooftop storage.
Green Energy Trading monetizes and trades the renewable energy credits generated when a household installs a PV array. It also tracks the amount of PV going onto Australian roofs as those certificates are generated. Brazzale says that consumers without the resources to install a large battery array may be forced to shoulder a larger proportion of the grid costs while others disconnect.
“There is always going to be a grid,” said Brazzale. “I would put to you that in the short term Australia is likely to become a good market for battery storage but in the long term there can’t be half of consumers going off grid while the other half paying twice as much. Eventually there will have to be some sanity come back to network pricing and to PV export prices, and it might take five to ten years to go through that adjustment process”
By contrast, Brazzale notes that both distributed and large battery storage systems can be deployed strategically to strengthen the grid in rural areas or in new housing developments.
“Australia also has a really long and skinny grid and a lot of network businesses will move towards distributed batteries as a solution before they expand and augment their grids anymore,” says Brazzale.
Some such programs are already being rolled out, including the Alkimos Beach project in Western Australia. The project is being supported by the Australian Renewable Energy Agency and will see a large battery array added to a new residential development. By doing so, the project and property developers hope to reduce peak electricity demand from households and therefore the capacity of the grid infrastructure supplying the suburb.
Brazzale notes that such projects represent an intelligent deployment of electricity storage, rather than in places where existing grid infrastructure is sufficiently robust, and importantly, needs to be paid for.
“The [Australian] grid is pretty robust. So much money has been invested on the network over the years, there has been billions of dollars spent,” he explains. “So I can’t see the rationale for battery subsidies, unless it is for avoided network augmentation. Batteries per se do not reduce CO2 emissions, pricing PV exports properly which supports further roll-out of rooftop PV will be what results in lower CO2 emissions.”
Link: http://www.pv-magazine.com/news/details/beitrag/australian-offgrid-push-may-leave-unfair-burden-of-grid-costs_100022104/#axzz3sPfsUN1Y
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Trina Solar hits industry record quarterly shipments of over 1.7GW
Nov 23, 2015 | PV Tech
By Mark Osborne
Updated: Leading ‘Silicon Module Super League (SMSL) member Trina Solar has reported record module shipments in the third quarter of 2015, surpassing previous guidance and setting a new quarterly shipment record in the PV industry.
Trina Solar reported shipments of 1,703.2MW, consisting of 1,353.2MW of external shipments and 350MW of shipments to its own downstream PV power projects. Total module shipments increased 38.3% sequentially and 60.1% year-over-year.
The company also significantly raised full year shipment guidance from a previously upward revision of between 4.9GW to 5.1GW to 5.5GW to 5.6GW, solidifying its position as the leading PV module manufacturing in the world in 2015.
Jifan Gao, chairman and CEO of Trina Solar, commented: "We had a solid quarter of operations that came in ahead of our expectations, despite the one-off negative impact from the settlement of the Solyndra lawsuit and currency fluctuations that we experienced. We shipped a record 1.7GW of modules, which enables us to achieve a significant milestone of over 15GW of module shipments cumulatively since our inception. We also connected 251.9MW of projects to the grid in the third quarter, making our total retained projects reach 610.4MW. This further strengthened our position as a leading module manufacturer and positioned us well to become a world-class solar project player. We maintained strong growth momentum in China and the US, with record shipments to both markets and continued to execute our strategy to increase our presence in new and emerging markets, such as India and Thailand. New and emerging markets have become our third largest destination for shipments over the past two quarters.”
Trina Solar reported net revenue of US$792.6 million, an increase of 9.6% sequentially and 28.5% year-over-year, including electricity revenues from downstream solar power projects of US$15.3 million.
Gross margin was 17.4%, compared with 20.0% in the second quarter of 2015 and 16.7% in the third quarter of 2014.
Trina Solar reported a third quarter operating income of US$5.8 million, compared with operating income of US$60.7 million from the second quarter of 2015 and US$35.6 million from the third quarter of 2014.
The company noted that its non-GAAP operating income, which excluded the impact of the Solyndra settlement provision, was US$50.8 million. The Solyndra settlement provision relates to a lawsuit against a number of China-based PV manufacturers after the US-based CIGS thin-film producer went bankrupt.
Net loss attributable to Trina Solar's ordinary shareholders was US$20.0 million, compared with net income attributable to its ordinary shareholders of US$40.9 million in the second quarter of 2015, and net income attributable to its ordinary shareholders of US$11.5 million in the third quarter of 2014. Manufacturing update
Updated: Trina Solar said that its OEM Malaysia-based facility was ramping as well as its OEM facility in Vietnam that would supply local regional markets.
The company noted that in-house ingot production capacity at the end of the third quarter stood at approximately 2.3 GW, while wafer capacity stood at around 1.8GW.
Solar cell capacity was 3.5GW at the end of the quarter and PV module capacity stood at around 4.7GW.
Trina Solar said in its third quarter earnings call that it planned to expand in-house ingot production by the end of 2016 to 2.4GW, while wafer production would be increased to 1.9GW, only a 100MW increase, which could be expected to come from upgrades and debottlenecking.
However, in-house solar cell capacity is expected to reach 4.8GW by the end of 2016, up 1.3GW, while in-house module capacity is expected to reach 6.1GW by the end of next year, up 1.4GW.
Management guided capital expenditure in 2016 to meet capacity expansion targets of around US$300 million. Guidance Q4
Trina Solar said that it expected to ship between 1,500MW to 1,650 MW of PV modules in the fourth quarter of 2015, of which 1,350MW to 1,450MW was expected to be shipped to third party customers.
The company expects to connect 280MW to 320MW of PV projects to the grid in the fourth quarter of 2015. Trina Solar said it had connected a total of 251.9MW PV power projects to the grid, including 38.9 MW of DG projects and 213.0 MW of utility projects in China in the third quarter of 2015.
Trina Solar said it had a total of 610.4MW downstream operating assets that generated electricity power, including 588.2MW in China, 4.2MW in the US, and 18.0MW in Europe. The 588.2MW projects in China consisted of 513.0MW of utility projects and 75.2MW of DG projects.
Link: http://www.pv-tech.org/news/trina-solar-hits-industry-record-quarterly-shipments-of-over-1.7gw
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