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Suntech 01/06
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IN DEPTH: Ambitious Shunfeng is just getting started
Jun 1, 2015 | Recharge Magazine
By Brian Publicover
One of these acquisitions, in particular, has helped propel SFCE into the PV major league — its $483m acquisition of Wuxi Suntech, the manufacturing arm of former global leader Suntech. Shunfeng was quick to reap the rewards. -
Wuxi Suntech to equip 63 MW of Thai solar farms
May 29, 2015 | See Renewables
By Militsa Mancheva
Chinese solar products maker Wuxi Suntech said Friday it will supply 63 MW of its photovoltaic (PV) modules to electrical equipment firm Gunkul Engineering Public Co Ltd for eight solar projects across Thailand. -
Suntech to Provide 63 Megawatts for Solar Projects in Thailand
May 29, 2015 | Bloomberg
By Justin Doom
Wuxi Suntech Power Co., a Chinese solar manufacturer, agreed to supply panels with 63 megawatts of capacity for eight projects in Thailand. -
Suntech and Gunkul Engineering work on 63MW of Thailand solar projects
Jun 1, 2015 | PV Tech
By Tom Kenning
Chinese tier-one manufacturer Suntech will supply 63MW of PV panels to eight projects being constructed across Thailand by Thai Stock Exchange-listed company Gunkul Engineering. -
Suntech to Provide 63MW of Solar Panels to Gunkul Engineering
Jun 1, 2015 | Azo Cleantech
Suntech has announced today that it will supply approximately 63 megawatts (MW) of solar panels to 8 separate Gunkul Engineering projects being constructed across Thailand. The projects are expected to be grid connected and operational by the end of 2015.
SFCE News
Press Release: Suntech and Gunkul Engineering Collaborate on 63MW of Solar Projects in Thailand
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IN DEPTH: Ambitious Shunfeng is just getting started
Jun 1, 2015 | Recharge Magazine
By Brian Publicover
It may be one of the world’s most ambitious renewable-energy companies, but it is only just warming up.“Our goal — in the next three to five years — is to become the [world’s] largest integrated clean-energy service provider,” Eric Luo, chief executive of Shunfeng International Clean Energy (SFCE), tells Recharge.
A few years ago, the company (known as Shunfeng Photovoltaic International until late 2014), was little more than a Tier-2 Chinese cell manufacturer. But in the past year or so, SFCE has expanded massively, acquiring ten companies and significantly broadening its influence in both the solar industry and the wider clean-energy sector.
One of these acquisitions, in particular, has helped propel SFCE into the PV major league — its $483m acquisition of Wuxi Suntech, the manufacturing arm of former global leader Suntech. Shunfeng was quick to reap the rewards.
In March, SFCE posted record annual net profits of 1.3bn yuan ($209.5m) for 2014 — up from a deficit of 1.8bn yuan 12 months earlier. Shipments of wafers, cells and modules had increased from 480.5MW to 1.5GW, partly by taking full advantage of Wuxi Suntech’s overseas sales channels.
Shunfeng’s other purchases over the past year include German PV project developer SAG Solarstrom, along with its project monitoring unit Meteocontrol, which oversees 8.8GW of projects worldwide; the PV inverter and building-integrated-PV (BIPV) arm of bankrupt German firm Sunways; and Qianguo Fuhui Wind Power, with its 723MW project portfolio in northern China — SFCE’s first business in the wind segment.
This explosive growth has been largely driven and financed by Hong Kong property tycoon Cheng Kin Ming, who owns SFCE’s various group companies through his investment holding company, Asia Pacific Resources Development Investment.
“He has been watching this industry for more than 15 years because he knew the renewable-energy segment would be a big business,” explains Luo, a former senior executive at Suntech and a RechargeThought Leader. “He set up this vision a long time ago; that has helped us to move quite fast in terms of acquisitions and building our portfolio and defining our business model.”
“It’s not coming from nowhere,” says Patrick Dai, a senior analyst at Macquarie in Hong Kong, arguing that Cheng moved at the right time to snap up Wuxi Suntech.
“When solar was really down, he wanted to acquire solar assets, through the supply chain from the beginning to the end.”
Wuxi Suntech gave SFCE more than just the ability to ramp up module production under an established brand name, says Luo.
It also acquired a global team of people with years of experience in the industry. “It’s cash, technology, the right team, the right time, plus the policy, which pushed us to where we are,” he says.
At the same time as Shunfeng built up its manufacturing business, it also ramped up its PV project development arm, largely through acquisitions.
Having kicked off construction of 1.4GW of solar arrays in China in 2014, with 644MW connected to the grid, it said it would build a further 9GW of PV capacity over the next three years, reaching 10GW by the end of 2016.
Shunfeng has also started casting its eyes overseas; it may install as much as 1GW in Japan, and it has already started building its first 30MW in the UK. Globally, it aims to install 10GW by the end of next year.
The timing of its acquisitions certainly appears opportune, given the Chinese government’s recent announcement of a 17.8GW solar installation target for this year. The company’s aims are also broadly aligned with the country’s promise to cap its carbon emissions by 2030, as part of the climate agreement Beijing signed with the US in November 2014.
“Shunfeng’s expansion really takes advantage of the market and policy,” says Isabella Ni, an energy storage analyst at IHS. “It fits the national strategy for energy.”
One of the keys to SFCE’s success, Luo argues, is that the group maintains the independence of each of its individual companies.
“We’re not going to have a Chinese person go to New York to sell these solutions,” he says.
This hands-off approach is “applied to everything” the company does, including SFCE’s recent foray into wind power.
“That’s why we acquired an entire company with expertise, with a team, with technology. We didn’t acquire the projects and then say we’re going to build wind, because we don’t have experience,” Luo says.
The group is now preparing to take the next step in its transformation into a provider of low-carbon integrated energy solutions.
By the end of the third quarter, it aims to finish building its first seawater power generation pilot project — a collaborative effort with new acquisition Taiwan Carbon Nanotube Technology (TCNT) — in Nantong, Jiangsu province. The patented technology uses carbon nanotubes and graphene to generate electricity from salt water.
And later this month, the scale of SFCE’s breadth will be showcased at the Hongqiao International School in Shanghai, where it will install a complete energy system including rooftop PV, water heating and cooling, LED lighting and controls — all supplied by various recently acquired units.
“We hope that with Mr Cheng and Shunfeng as the driver, we can act as a catalyst for the world, so people focus on renewable energy. Our goal is to have electricity generation around the clock, 24 hours — from the sky, ocean and from underground,” Luo says.
The company will prevail because of the speed with which it acts, he adds.
“It’s too early to say if they can succeed or not,” says Dai.
“But it will be quite challenging for a company that doesn’t have a track record for developing renewables assets.”
http://www.rechargenews.com/solar/1401159/in-depth-ambitious-chinese-group-shunfeng-is-just-getting-started
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Wuxi Suntech to equip 63 MW of Thai solar farms
May 29, 2015 | See Renewables
By Militsa Mancheva
May 29 (SeeNews) - Chinese solar products maker Wuxi Suntech said Friday it will supply 63 MW of its photovoltaic (PV) modules to electrical equipment firm Gunkul Engineering Public Co Ltd for eight solar projects across Thailand.
The deal is for Wuxi Suntech’s Vem series modules compatible with utility-scale power plants. “These panels are well suited for Thailand's hot and humid climate, providing higher power performance, while reducing the probability of micro-cracks and hotspots,” president Haibo Xiong noted.
The PV parks are scheduled to be hooked to the grid by end-2015. They are expected to generate roughly 94 GWh of electricity per year, enough to power approximately 24,000 local households and offset some 56,000 tonnes of carbon dioxide (CO2) emissions annually, the manufacturer calculates.
Wuxi Suntech was the main unit in China of Suntech Power Holdings before it was acquired by Shunfeng International. So far, it has shipped more than 260 MW of its panels to Thailand.
http://renewables.seenews.com/news/wuxi-suntech-to-equip-63-mw-of-thai-solar-farms-478466
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Suntech to Provide 63 Megawatts for Solar Projects in Thailand
May 29, 2015 | Bloomberg
By Justin Doom
Wuxi Suntech Power Co., a Chinese solar manufacturer, agreed to supply panels with 63 megawatts of capacity for eight projects in Thailand.
The solar farms will generate enough power for about 24,000 homes, and the customer, Gunkul Engineering PCL, expects them to be complete by the end of the year, Wuxi-based Suntech said in a statement Friday. Terms weren’t disclosed.
Suntech has delivered panels with more than 260 megawatts of capacity in Thailand, according to the statement.
Thailand may install more than 600 megawatts of solar capacity in 2015, according to data compiled by Bloomberg New Energy Finance, up from 381 megawatts last year.
http://www.bloomberg.com/news/articles/2015-05-29/suntech-to-provide-63-megawatts-for-solar-projects-in-thailand
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Suntech and Gunkul Engineering work on 63MW of Thailand solar projects
Jun 1, 2015 | PV Tech
By Tom Kenning
Chinese tier-one manufacturer Suntech will supply 63MW of PV panels to eight projects being constructed across Thailand by Thai Stock Exchange-listed company Gunkul Engineering.
The plants are expected to be operational by the end of this year and to generate 94,000MWh of electricity annually, enough to power around 24,000 homes, according to Suntech.
Suntech will supply the installations with its Vem series modules, suitable for utility-scale plants. The company has recently upgraded its solar panels to a four busbar module, which is suitable for Thailand’s humid climate by reducing the probability of micro-cracks and hotspots, according to Suntech president Haibo Xiong.
He said: "Suntech has shipped more than 260MW of panels to various projects throughout Thailand. Working side by side, in a strong partnership with Gunkul Engineering, we're proud to continue supporting Thailand's important solar market.”
Gunkul Engineering president Sopacha Dhumrongpiyawut said: “Suntech has a proven track record in Thailand, when it comes to performance and quality, as seen with the panels provided to the Sunny Bangchak solar project. Following the floods in 2011, the panels were submerged in water for 2 months. When the water finally receded, 80% of the panels were still producing solar.”
http://www.pv-tech.org/news/suntech_and_gunkul_engineering_work_on_63mw_of_thailand_solar_projects
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Suntech to Provide 63MW of Solar Panels to Gunkul Engineering
Jun 1, 2015 | Azo Cleantech
Suntech has announced today that it will supply approximately 63 megawatts (MW) of solar panels to 8 separate Gunkul Engineering projects being constructed across Thailand. The projects are expected to be grid connected and operational by the end of 2015."Suntech has shipped more than 260MW of panels to various projects throughout Thailand. Working side-by-side, in a strong partnership with Gunkul Engineering, we're proud to continue supporting Thailand's important solar market," said Haibo Xiong, president of Suntech. "We have recently upgraded all our solar panels to a four busbar module. These panels are well suited for Thailand's hot and humid climate, providing higher power performance, while reducing the probability of micro-cracks and hotspots."
Suntech is supplying the Gunkul Engineering projects with its Vem series modules, which are compatible with utility-scale size power installations. The solar plants are expected to generate 94,000 MWh of electricity per year, enough to power approximately 24,000 households, while reducing approximately 56,000 tons of carbon emissions annually.
"We chose to partner with Suntech particularly because of their continual investment in research and development and product performance enhancement, which had allowed Suntech to deliver the highest performing solar modules available in the market," said Ms. Sopacha Dhumrongpiyawut, president of Gunkul Engineering. "Suntech has a proven track record in Thailand, when it comes to performance and quality, as seen with the panels provided to the Sunny Bangchak solar project. Following the floods in 2011, the panels were submerged in water for 2 months. When the water finally receded, 80% of the panels were still producing solar," she noted.
Suntech will be present at Renewable Energy Asia 2015 in Bangkok from June 03 to 06, 2015, booth number C19. The following products will be featured at the exhibition: the 'HyPro' with PERC technology, whose mass production cell efficiency can reach an average of 20.5%; an integrated AC module designed for the residential market, which produces a high energy yield at lower installation and maintenance costs; and a standard module that is suitable for both rooftop and utility projects. The products are all PID free and provide high performance yields in low light conditions. Along with excellent, international customer service, Suntech's products come with a 10-year product warranty.
About Wuxi Suntech Power Co., Ltd.
Wuxi Suntech Power Co., Ltd., a company incorporated in the PRC in January 2001, produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech is a Bloomberg New Energy Finance tier 1 solar company, based on its bankability and has delivered more than 30 million photovoltaic panels or 9 GWs of installed capacity to more than 1 thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide reliable access to nature's cleanest and most abundant energy source.About Gunkul Engineering Public Company Limited
Gunkul Engineering Public Company Limited was established on August 5, 1982 by Mr. Gunkul Dhumrongpiyawut. The company originally imported electrical equipment to support the fast-growing economy in Thailand. The company's subsidiaries include G.K. Assembly Co., Ltd., which produces and assembles protective equipment used in the electrical power transmission system, and G.K. Power Products Co., Ltd, which produces low- and high-voltage electrical equipment. Business operations and support for the subsidiaries are provided by GK Group.Azo Cleantech: http://www.azocleantech.com/news.aspx?newsID=21952
Energy Infrastructure: http://energyinfrastructure.cleantechnology-business-review.com/news/suntech-to-supply-63-mw-of-solar-panels-to-gunkul-engineerings-thai-projects-010615-4589917
SolarServer (German): http://www.solarserver.de/solar-magazin/nachrichten/aktuelles/2015/kw23/suntech-und-gunkul-engineering-arbeiten-an-photovoltaik-projekten-mit-63-mw-in-thailand.html
SFCE News
Press Release: Suntech and Gunkul Engineering Collaborate on 63MW of Solar Projects in Thailand
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