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  • AzureAzure Power solar power project | Uttar Pradesh | 50 MW
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, has announced that it has commissioned the final phase of its 50 megawatt (MW) solar power plant in the state of Uttar Pradesh. The 50 MW project is spread across 300+ acres of land.

Azure Power will provide power for 25 years at a tariff of INR 4.78 (~US$ 0.07) per kWh to NTPC, the largest power utility of the Government of India. NTPC received a AAA debt rating from CRISIL, a Standard & Poor’s Company. Azure Power secured the 50 MW PPA through an auction under the National Solar Mission Phase II, Batch-II Tranche I.

Uttar Pradesh is the most populous state in India and has a large peak energy supply deficit, according to the Central Electricity Authority. In addition, CRISIL projects that over 10 million unelectrified households will be connected by 2019. Azure Power is one the largest solar developers in Uttar Pradesh and built the first utility-scale solar project in Uttar Pradesh in 2015.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With the commissioning of this plant, we have once again demonstrated our strong project development, engineering, and execution capabilities. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the state of Uttar Pradesh for all the cooperation and support extended.”

About Azure Power

Azure Power (NYSE:AZRE) is a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories. With over 150 MWs of high quality solar rooftop assets, the company has one of the largest rooftop portfolios in the country. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced that it has partnered with Waaree Energies Limited (Waaree), India’s largest Tier 1 solar panel manufacturer.

SIMI VALLEY, Calif., Sept. 22, 2017 /PRNewswire/ -- The City of Simi Valley celebrated the energization of a city-wide solar program during a ribbon cutting event at the Simi Valley Police Department yesterday. The Police Department is one of five City locations with new rooftop solar, solar ground mount, and solar canopy parking structures that is now generating enough clean, renewable energy to power one third of all City facilities.

Through a long-term relationship with a Pasadena-based team from OpTerra Energy Services, Simi Valley held the community event to showcase the 2.2MW of solar that was recently completed. Regional leaders from the Ventura County Office of Education, and other local elected officials attended in support of the impactful energy project, which is expected to save the City $15.5 million in energy savings over the first 20 years of production.

Energizing Long-Term Success
As a result of Simi Valley's solar and site modernization plan across five community sites, the City of Simi Valley is set to accomplish the following:

  • $15.5MM in expected net savings over the 20-year program life, and $1.3 million per year thereafter
  • 2.2 MW of solar photovoltaic (PV) capacity at 5 sites, including City Hall, the Police Department, the Public Library, the Senior Center, and the Water Quality Control Plant
  • 1/3 of the City's energy will be supplied by clean, solar generation
  • 2,450 metric tons in CO2 emissions eliminated per year, the equivalent to removing 518 cars from the road
  • 15 internships created for Simi Valley high school students to give them real world experience in energy and STEM careers, aligned with the implementation of the solar project

Simi Valley Conserves
In addition to the successful solar implementation project, the partnership between the City of Simi Valley and OpTerra encompasses an energy conservation awareness program called Simi Valley Conserves. Over the solar program development in 2017, Simi Valley Conserves helped build workforce capacity in clean tech and energy by training and hiring 15 Simi Valley Unified School District senior high school students as Energy Ambassadors.

As Mayor Bob Huber shared during the event, "Along with our successful solar program this year, we are also very proud of our high school Energy Ambassadors who helped educate our residents about easy steps we can all take to be more sustainable with our resources – helping to save Simi Valley households financially as well. As a result of Simi Valley Conserves, these hardworking students engaged community members at 80 events and helped organize energy consultations for 280 homes." 

Showcasing Leadership in Ventura County
During Wednesday's site energization celebration, local elected officials and regional stakeholders commended the City leadership for continuing its track record of ongoing sustainability programs aligned with upgrades to civic spaces.

John Mahoney, President and CEO of OpTerra Energy Services, stated, "Through a successful, united partnership, the City of Simi Valley and OpTerra have achieved a fiscally and environmentally advantageous program that will have long-term positive economic and human impact in the community. OpTerra is proud to recognize Simi Valley's leadership as a steward of taxpayer dollars in Ventura County, integrating long-term energy savings projects into plans to improve public services, as well as prioritizing the build-out of a successful student internship program tied to the energy work."

About the City of Simi Valley:
For more information about the City of Simi Valley, visit http://www.simivalley.org/.

About OpTerra Energy Services:
OpTerra Energy Services is a national energy company that works with education, local government, commercial, industrial, and institutional organizations to implement efficiency and sustainable energy solutions that save money, enhance safety, improve assets, and protect the environment. As a subsidiary of ENGIE, the number one energy efficiency services provider in the world, OpTerra Energy Services provides a unique and extensive set of energy and sustainability management services to thousands of customers across the U.S. The company has provided more than $2 billion in energy savings for its customers over the past 40 years. For more information, please visit www.opterraenergy.com or contact Lani Wild, Communications Manager, at 415-735-9080.

View original content with multimedia:http://www.prnewswire.com/news-releases/city-of-simi-valley-celebrates-energy-program-expected-to-save-155-million-and-power-one-third-of-all-facilities-300524441.html

SOURCE OpTerra Energy Services

Related Links

http://www.opterraenergy.com

fossil fuels, Renewable energy, india, Ministry of New and Renewable Energy, Anand kumar Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India. (Reuters)

Renewable energy is the only way for a country like India with the population as large as 1.25 billion that has finite fossil fuels to cater to the needs of all, said Anand Kumar, Secretary Ministry of New and Renewable Energy (MNRE). However, asserting the fact that India is determed to achieve the target of installing 175 gigawatt (GW) of renewable energy capacity by 2022, Kumar said that advancements in technology and dropping prices of solar and wind, the country can even surpass the target. “Under Prime Minister Modi, we up-scaled our total renewable energy target to 175 GW by 2022. With advancements in technology, and with price of solar and wind reducing, we are not only sure but confident that we will not only achieve the target, but exceed it,” he said.

While speaking at the 11th edition of Renewable Energy India Expo in Greater Noida on Wednesday, Kumar also said that in recent consultations, the MNRE has begun to take more seriously the potential of India’s offshore wind and hydropower capacities, and hinted that these technologies will be brought under the renewable energy target.

Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India, at a cost people are willing to pay, and not only willing to pay, but able to pay as well. He affirmed the path of least resistance is the one with the lowest carbon intensity. “India has limited fossil fuels. We depend on imports for petroleum. If we have to support and meet the demand of 1.25 billion people, then renewables are the only way.”

Kumar also turned his attention to manufacturing, particularly solar manufacturing where, he said India’s capabilities are “modest” at best. He concluded. “We should set up manufacturing bases for batteries in India. Once we overcome the obstacle of storage, then the ideal of 24-hour free energy for the people can be realized.”

On Tuesday 19 September, Climate Action, in official partnership with UNEP Finance Initiative, held the second Sustainable Investment Forum 2017 at the Crowne Plaza Hotel Times Square in New York during Climate Week NYC.

Chaired by Ed Crooks, US Industry and Energy Editor at the Financial Times, the conference started with a keynote address from Howard Bamsey, the Executive Director of the Green Climate Fund. Mr Bamsey outlined the importance of dealing with the impact of climate change as well as reducing GHG emissions. The Envoy of the Governor of the Mexican State of Quintana Roo, Rosa Elena Lozano Vázquez also addressed the audience, and emphasized the dramatic impact of climate change and adverse weather on the state.

Rosa Elena Lozano Vázquez also said: “It's time to recognize that climate change is an economic phenomenon with environmental and social impacts.”

The morning of the Forum saw three panel sessions discussing the necessary leadership from the private sector and regional and city governments, as well as ways, to accelerate investment in low carbon innovation. The California State Controller Betty Yee took part in the opening plenary. As Board Member of CALPERS AND CALSTRS, she emphasized both of the pension funds’ interest in what the businesses they are investing in are doing to address climate risks, and more and more large US firms are taking climate change seriously.

Benoit Potier, CEO of Air Liquide and Chair of the Hydrogen Council said: “The Paris Agreement has generated an acceleration of the need to invest into solutions. Hydrogen, as a systemic solution for the energy transition, is a part of this.”

He added: “We are reaching the point when customers will select you when you have the best sustainable strategy.”

Philippe Desfossés, CEO of the French pension fund Retraite Additionnelle de la Fonction Publique (ERAFP), Kerry Adler, CEO of energy firm Skypower, Frédéric Samama from Amundi and high level state representatives from Oregon, US, Alberta Canada and South Australia took part in the other morning plenaries and discussed how investment processes need to evolve towards more sustainable practices. Mindy Lubber, CEO of Ceres, said that “climate risks are just risks” and therefore all investors need to take them into account, and Lance Pierce from CDP added that focusing on risk helps understand opportunity. Ms Lubber added that three things that are needed going forward are: a price on carbon, better disclosure and changing investment patterns.

Tom Steyer, in his morning speech, said that investing in ESG will bring more returns on the long term, reminding the audience that the oil and gas sector has underperformed the S&P500 for 5 years. Laszlo Giricz also announced the launch of the new venture Poseidon Foundation, which will help develop efficient and secure carbon markets thanks to Blockchain.

The afternoon of the Forum was split in two parallel streams, with sessions addressing both how to use traditional finance to shift investment and disruptive finance with blockchain, as well as more advanced low carbon sectors and how to transform the energy sector, and sectors that still need to get up to speed such as sustainable agriculture and landscape management. Blended finance, new low carbon technologies and initiatives were discussed by speakers from NY Green Bank, the city government of Oslo, Poseidon Foundation, Third Way, GE Ventures, YES Bank and many others.

The Forum ended on a high-level panel discussion between NYS Comptroller DiNapoli, the CEOs of Royal DSM and Swedish insurance firm Länsförsäkringar, and senior representatives from CDP and Citigroup on aligning capital flows with the Paris Agreement.

Ann Sommer, CEO of Länsförsäkringar, said: “There is a lot to gain, but there is also so much to lose if we don't act now.”

CEO of DSM, Feike Sijbesma also said: “Let's keep the momentum from the Paris Agreement and keep tackling climate change.”

The event was made possible thanks to the close partnership with UNEP Finance Initiative, and the great support of Eric Usher, Head of UNEP FI. Climate Action also worked closely with its event sponsors. Platinum and gold sponsors were: Poseidon Foundation, which was launched at the Forum, the State of Quintana Roo in Mexico, Amundi Pioneer, the Hydrogen Council, UBS, Sumitomo Corporation of Americas and SkyPower.

Climate Action has also announced the launch of the new Sustainable Investment Forum Europe, which will be held on 13 March 2018 in Paris. The event will be focusing on specific European challenges and topics. The New York event will be held again next year for its third edition, alongside Climate Week NYC and the UN General Assembly.

Evian, a subsidiary of Danone, introduced its first carbon-neutral bottling facility as part of the company’s plans to become 100 percent carbon neutral by 2020.

Located in Evian-les-Bains, the state-of-the-art bottling plant is fully powered by renewable energy sources, including hydropower, and is certified carbon neutral by the Carbon Trust.

Emmanuel Faber, Danone’s owner said that the company is spent $336 million on the project.

He explained that the project was realised by working closely with all local stakeholders in its natural water cycle upstream, its labour pool and its logistics network downstream.

The new production line of the site will be producing 72,000 bottles per hour, all of which will be 100 percent recyclable.

In an interview  with TriplePundit Véronique Penchienati, President of Evian said: “We will be the first brand in Danone to be carbon neutral, so we are a pilot in this adventure”.

She added: “This is only the first step, but it is a very important one. It creates pride among our employees, partners and customers, and it motivates us to go even further to reach our 2020 objective”.

Regarding the 100 per cent neutrality target she commented: “To meet our goal, we need to increase all of our efforts and work through the entire lifecycle of our product and our bottle — from conception, to production, to shipping and to the end of life”.

The company also aims at offsetting carbon emission caused by the transportation of Evian across the world by expanding rail transport and by promoting biogas.

Danone is switching from roads to rails, operating its own private terminal with trains departing every four hours.

Approximately 60 per cent of the site’s production is shipped by train, and the company aims to increase that to 90 per cent, which is claimed to reduce emissions by 75 per cent.  

The company is also working with farmers in the region of Evian to collect waste for biogas energy.

The announcement from the company triggered criticism that packaging water from the French Alps and transporting it around the world causes unnecessary environmental damage.

In a phone interview with The Star Mr Faber commented: “I’m aware, and more and more consumers are aware, that transporting water is not ideally what you’d like to do”.

“If you want to build a model that’s sustainable, you need to deal with this reality.”

Mathis Wackernagel, CEO of Global Footprint Network, an Oakland, California-based think tank, argued that Danone’s move will put pressure on other water brands to follow, but still questioned the initiative.

“Often it is environmentally absurd to sell bottled water when tap water is cheaper, better, and far less energy-intensive”.

Mrs Penchienati commented: “We believe that we have a role to play in promoting healthy hydration everywhere, but we need to do it in a responsible way. That’s why we’re doing all of this, because we are aware of the impact that we have”. 

In the immediate vicinity of many embassies, on a carport at the giant Brooklyn Mall in Pretoria, 9,600 solar modules gleam in the South African sun. juwi started work on the construction of the one-megawatt system at the end of January.

The Government of Zambia signed agreements  for a second mandate with Scaling Solar, the World Bank Group program that is helping developing countries procure low cost, privately financed, solar power.

100 Thousand Solar Lanterns Project has achieved over 80,000 donations in total

South Africa is increasingly focusing on renewable energies. By 2020, solar energy is forecast to expand to over 5.7 gigawatts.

The Government of Zambia signed agreements  for a second mandate with Scaling Solar, the World Bank Group program that is helping developing countries procure low cost, privately financed, solar power.

Azuri is delighted to announce a partnership with the Niger Delta Power Holding Company (NDPHC) to launch its PayGo Solar Home Systems in Nigeria, to deliver affordable, clean energy to 20,000 rural households living without electricity. 

After a phase 1 project successfully delivered in 2016, MeteoPole Zephy-Science’s revolutionary ZephyCloud platform has been awarded by the European Commission under the framework of Horizon 2020 Program with an additional phase 2 grant of €1.3 million for its ambitious 2-year R&D program.

Direct access to technical support and a new web presence to premiere at SPI 2017

Voltalia, an international player in renewable energies, announces the launch of the construction of a new 8.2 MW solar power plant in France, in the Bouches-du-Rhône department.

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces the start of construction works at the French solar power plants of Canadel (10.4 MW) and Castellet 2 (3.8 MW) located in the southern-France region of Var. 

Intersolar Europe, the world’s leading exhibition for the solar industry and its partners, is now open.

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company"), a global leader in the Photovoltaic (PV) industry, announced that as the only Chinese company, it was invited to dialogue at The Business 20 (B20) Summit held in Berlin on May 2-3, 2017.

Enables residential solar asset owners, loan providers, installers, developers, and distributors to truly understand how their PV systems are performing

Locus Energy announced new, advanced hardware flexibility, with an enhanced capability to collect data from on-site aggregators and third-party equipment directly.

IFC, a member of the World Bank Group, and fashion retailer, H&M Hennes & Mauritz (H&M), launched a joint partnership to boost the use of clean, renewable energy in the garment sector, while also slashing greenhouse gas emissions.

Larson Electronics LLC, a leading industrial lighting company, announced the release of a new solar panel kit to be added to its catalog of products.

Once 80 Year Rivals, Poyant Signs partners with Beaumont Solar to meet all industry deadlines

Green Power EMC, the renewable energy supplier for 38 Georgia Electric Membership Corporations (EMCs), and Silicon Ranch, one of the nation's largest independent solar power producers, officially dedicated a 52-Megawatt (MWAC) solar energy plant in Jeff Davis County, Georgia. 

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  • AzureAzure Power solar power project | Uttar Pradesh | 50 MW
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, has announced that it has commissioned the final phase of its 50 megawatt (MW) solar power plant in the state of Uttar Pradesh. The 50 MW project is spread across 300+ acres of land.

Azure Power will provide power for 25 years at a tariff of INR 4.78 (~US$ 0.07) per kWh to NTPC, the largest power utility of the Government of India. NTPC received a AAA debt rating from CRISIL, a Standard & Poor’s Company. Azure Power secured the 50 MW PPA through an auction under the National Solar Mission Phase II, Batch-II Tranche I.

Uttar Pradesh is the most populous state in India and has a large peak energy supply deficit, according to the Central Electricity Authority. In addition, CRISIL projects that over 10 million unelectrified households will be connected by 2019. Azure Power is one the largest solar developers in Uttar Pradesh and built the first utility-scale solar project in Uttar Pradesh in 2015.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With the commissioning of this plant, we have once again demonstrated our strong project development, engineering, and execution capabilities. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the state of Uttar Pradesh for all the cooperation and support extended.”

About Azure Power

Azure Power (NYSE:AZRE) is a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories. With over 150 MWs of high quality solar rooftop assets, the company has one of the largest rooftop portfolios in the country. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced that it has partnered with Waaree Energies Limited (Waaree), India’s largest Tier 1 solar panel manufacturer.

DuPont Photovoltaics Solutions (DuPont), the industry leader delivering proven power and lasting value for customers around the world, wins the REI award in the “Renewable Energy International Excellence in Materials and R&D” category.

Tata BlueScope Steel announces the launch of its indigenous brand ILIOS™ a Solar Module Mounting Solution to cater, to the increasing demand of the renewable energy sector in India

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") , the global leader in the photovoltaic (“PV”) industry announces its presence at the 11th Renewable Energy India Expo (REI) from 20th – 22nd September at India Expo Centre, Greater Noida.

Dubai Electricity and Water Authority (DEWA) has achieved another world record by awarding the 700MW AED14.2 billion fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. This is the largest single-site Concentrated Solar Power (CSP) project in the world, based on the Independent Power Producer (IPP) model. The contract is awarded to a consortium comprising Saudi Arabia’s ACWA Power and China’s Shanghai Electric.

 

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170916005007/en/

 

DEWA project will have the world’s tallest solar tower, measuring 260 metres (Photo: AETOS Wire)

DEWA project will have the world’s tallest solar tower, measuring 260 metres (Photo: AETOS Wire)

The consortium bid the lowest Levelised Cost of Electricity (LCOE) of USD 7.3 cents per kilowatt hour (kW/h). The project will have the world’s tallest solar tower, measuring 260 metres. The power purchase agreement and the financial close are due to be finished shortly. The project will be commissioned in stages, starting from Q4 of 2020.

 

“Awarding this strategic project supports the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to promote sustainability, and make Dubai a global centre for clean energy and a green economy. This vision is supported by the Dubai Clean Energy Strategy 2050 to increase the share of clean energy in Dubai’s total power output to 7% by 2020, 25% by 2030, and 75% by 2050.

 

“Our focus on renewable energy generation has led to a drop in prices worldwide and has lowered the price of solar power bids in Europe and the Middle East. This was evident today when we received the lowest CSP project cost in the world,” said HE Saeed Mohammed Al Tayer, MD&CEO of DEWA.

 

The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world, based on the IPP model. It will generate 1,000MW by 2020 and 5,000MW by 2030. The 13MW photovoltaic first phase became operational in 2013. The 200MW photovoltaic second phase of the solar park was launched in March 2017. The 800MW photovoltaic third phase will be operational by 2020, and the first stage of the 700MW CSP fourth phase will be commissioned in Q4 of 2020.

 

*Source: AETOS Wire

 

 

 

 
MULTIMEDIA AVAILABLE :
http://www.businesswire.com/news/home/20170916005007/en/

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has supplied 23MW of high-

For AlsoEnergy, the top selling independent monitoring provider for commercial PV in North America, this partnership is an opportunity to extend international coverage for sales and support.

High voltage switchgear to support Saudi Arabia’s first integrated solar and natural gas power plant

  •       Dedicates Deendayal Hastkala Sankul to the nation
  •    Flags off Mahamana Express between Varanasi and Vadodara
  •      Launches several development projects

The Prime Minister, Shri Narendra Modi, today dedicated to the nation, the Deendayal Hastkala Sankul – a trade facilitation centre for handicrafts – at Varanasi. The Prime Minister had laid the foundation stone of this Centre in November 2014. Today, he visited the Centre, and was given an overview of the facilities developed there, before arriving on the dais for the dedication.

Shri Narendra Modi flagged off the Mahamana Express through a video link. This train will connect Varanasi with Surat and Vadodara in Gujarat.

The Prime Minister also unveiled plaques to mark the laying of Foundation Stone and dedication of various development works in the city. He inaugurated banking services of the Utkarsh Bank, and unveiled a plaque to mark the laying of foundation stone of the headquarters building of the Bank.

The Prime Minister dedicated a Jal Ambulance service, and a Jal Shav Vahan service to the people of Varanasi, through a video link. He distributed tool-kits and solar lamps to weavers and their children.

Speaking on the occasion, the Prime Minister said that in one programme from one dais, projects worth over 1000 crore have been either dedicated, or their foundation stone laid.

He described the Trade Facilitation Centre as one of the biggest projects for Varanasi for a long time. He said this Centre would help the artisans and weavers showcase their skills to the world, and facilitate a brighter future for them. He asked the people to encourage all tourists to visit this Centre. He said this would result in increased demand of handicrafts, and also boost the tourism potential of Varanasi, and indeed the economy of the city.

The Prime Minister said the solution to all problems is through development. He said the Government is focused on bringing about positive change in the lives of the poor and of succeeding generations. In this context, he praised the efforts of Utkarsh Bank.

Referring to the Jal Ambulance and Jal Shav Vahini launched today, the Prime Minister said that these represent the drive for development even through water-ways.

In the context of the Mahamana Express, the Prime Minister observed that Vadodara and Varanasi, which happen to be the two constituencies from which he contested the 2014 Parliamentary elections, are now connected via railway.

The Prime Minister said the country is progressing rapidly today, and firm decisions are being taken in the interest of the nation. He said eastern India must match the progress of the western part of the country, and the projects being launched today would go a long way in achieving this objective.

 

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AKT/NT

Department of Science and Technology is implementing several initiatives for upliftment and economic development of rural areas in the country.  A number of appropriate technologies have been developed, demonstrated and deployed at several locations in the country.

The Minister of Science & Technology, Earth Sciences and Environment, Forest & Climate Change, Dr. Harshvardhan today launched “Pt Deen Dayal Upadhayay Vigyan Gram Sankul Pariyojana” which will experiment and endeavour to formulate and implement appropriate S&T Interventions for Sustainable Development through cluster approach in Uttarakhand.

Addressing the press, the Minister said that this project has been inspired by teachings and ideals of Pt. Deen Dayal Upadhayay whose birth centenary is being celebrated this year.

DST has conceived to adopt a few clusters of villages in Uttarakhand and transform them to become self-sustainable in a time bound manner through the tools of Science and Technology (S&T). The key deliverable in this approach is to utilise local resources and locally available skill sets and convert them in a manner using science and technology, that substantial value addition takes place in their local produce and services which can sustain the rural population locally.  Further, the local communities are not compelled to migrate from their native places in search of jobs and livelihoods. Once this concept is validated in the few selected clusters, it can be replicated across large number of village clusters in the country.

Four clusters at Gaindikhata, Bazeera, Bhigun (in Garhwal) and Kausani (in Kumaon) have been selected for the intervention through a series of dialogues held among officials of DST and Uttarakhand State Council of Science and Technology (UCOST); Gramodaya Network, Surabhi Foundation and Uttarakhand Utthan Parishad; and other experts. Intensive interaction with local population and field visits were carried out to identify the challenges and opportunities that exist in the clusters.

About a lakh of people would benefit directly or indirectly through this project in four identified clusters of 60 villages in Uttarakhand for pilot phase which are located at different altitudes (up to 3000 meters). As the living conditions and resources available at different altitude is relatively different, the adopted strategy would help in creating models that are appropriate for different altitudes and could then be replicated in other hill states as well.

Areas of interventions in these selected clusters would be processing and value addition of milk, honey, mushroom, herbal tea, forest produce, horticulture and local crops, medicinal & aromatic plants and traditional craft and handloom of Uttarakhand.  Post-harvest processing of Kiwi, Strawberry, Cherry, Tulsi, Adrak, Badi Elaichi through solar drying technology, extraction of apricot oil using cold press technology. Stringent product and process control interventions for energy and water conservation would also be ensured through this project.

Novel strategies for sustainable development in this ecologically fragile state are important. Practice of agriculture, agro-based cottage industries and animal husbandry in an eco-friendly manner will be emphasized during the implementation of the project.  

Sustainable employment and livelihood options within the clusters such as eco-tourism, naturopathy and yoga, are also planned to be promoted.

These clusters would act as model production cum training and demonstration centres. There is a possibility of replicating this pilot phase initiative in other hill states of the country once it is established and stabilized. Various scientific institutions would participate collectively in this endeavour to accomplish the dream of Pandit Deen Dayal Upadhyay  towards ‘Swavlamban’.

Department of Science and Technology (DST) has committed Rs 6.3 crore support for a period of three years for this project.

Dr. Mahesh Sharma, former Chairman, KVIC and Director General, Madhya Pradesh Council of Science and Technology and now Chairman, Gramodaya Network and Coordinator Gram Sankul Yojana is steering this unique initiative. Addressing the gathering, he said, ”In my opinion, this is not a routine project.  DST has responded to a call from the grassroots by providing technical and scientific inputs which is critical for any project.”

*****

RDS/nb

 

 

The Union Minister of Civil Aviation Shri P. Ashok Gajapathi Raju today inaugurated the new state of the art campus of Indian Aviation Academy (IAA) in New Delhi. With the inauguration of this new world class campus, the IAA academy aims to enhance and augment its training and hostel capabilities to more than double. Speaking on the occasion Shri Raju said that with its enhanced strength the IAA academy would go a long way in meeting the growing demand for skilled manpower in the aviation sector.

The Indian Aviation Academy was constituted under the aegis of NIAMAR (National Institute of Aviation Management and research Society) on 22nd July, 2010 as a joint training academy of Airports Authority of India, Bureau of Civil Aviation Security and Directorate General of Civil Aviation. The aim of the academy is to provide training and conduct research and consultancy services in various areas of the aviation sector, like Airports and Aviation Management, Safety Regulations, Security and other related areas. IAA runs training programmes in Airports Operations & Aviation Safety, Airport Engineering & Planning, Air Cargo Management, Environment concerns in Aviation, besides regulatory training through DGCA and Security training through BCAS. AAI also offers internationally recognised aviation accredited programmes to participant across the globe in cooperation with ICAO, IATA and ACI. AAI has also acquired full membership of ICAO Train air Plus programme.

Also speaking on the occasion Secretary Civil Aviation Shri R.N.Choubey said that the Institute Director and faculty should regularly assess the manpower needs of the aviation industry and keep updating the syllabus accordingly to make the courses relevant.

The New IAA campus has been equipped to meet the skilling and training needs of the future as a large number of professionally skilled and trained manpower are required to operate, manage and maintain the future international air transport system.

The new IAA campus is spread over 8 acres and has 12 training halls of different capacities, two computer based training facilities and auditorium of sitting capacity of 200 apart from meeting rooms, library and video conferencing facility. The hostel has a capacity to house 100 trainees and 4 suites for faculty apart from an open air theatre, 2 gymnasium and various other sports and recreational facilities. The new building has been designed with green building compliance and has 200 KW of solar power generation and 5000 litres of solar water heating system apart from using energy efficient and conservation power appliances and devices.

Chairman AAI, Dr Guruprasad Mahapatra and DG BCAS, Shri Kumar Rajesh Chandra also spoke on the occasion.

******

NP/MS

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of August, 2017 rose by 0.8 percent to 114.8 (provisional) from 113.9 (provisional) for the previous month.

The annual rate of inflation, based on monthly WPI, stood at 3.24% (provisional) for the month of August, 2017 (over August,2016) as compared to 1.88% (provisional) for the previous month and 1.09% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.41% compared to a build up rate of 3.25% in the corresponding period of the previous year

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.

The index for this major group rose by 1.9 percent to 134.9 (provisional) from 132.4 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 2.2 percent to 150.8 (provisional) from 147.6 (provisional) for the previous month due to higher price of betel leaves (9%), fruits & vegetables (8%), ragi (6%), condiments & spices (3%), peas/chawali and fish-marine (2% each) and arhar, beef & buffalo meat, fish-inland, milk and wheat (1% each). However, the price of poultry chicken (10%), urad (5%), coffee and tea (3% each) and jowar, maize, masur, bajra, moong, paddy and egg (1% each) declined.

The index for ‘Non-Food Articles’ group rose by 1.8 percent to 120.6 (provisional) from 118.5 (provisional) for the previous month due to higher price of floriculture (25%), copra (coconut) (23%), guar seed (8%), safflower (kardi seed) (4%), castor seed (3%), gingelly seed, rape & mustard seed and raw wool (2% each) and soyabean and skins (raw) (1% each).  However, the price of raw silk (4%), linseed and groundnut seed (3% each), sunflower, raw jute and raw rubber (2% each) and hides (raw), niger seed, mesta, cotton seed and raw cotton (1% each) declined.

The index for ‘Minerals’ group declined by 1.2 percent to 118.2 (provisional) from 119.6 (provisional) for the previous month due to lower price of sillimanite (18%), chromite (16%), copper concentrate (6%), phosphorite (3%) and iron ore (2%).  However, the price of lead concentrate (22%), limestone (11%), zinc concentrate (10%) and bauxite (6%) moved up.

The index for ‘Crude Petroleum & Natural Gas’ group rose by 0.5 percent to 64.3 (provisional) from 64.0 (provisional) for the previous month due to higher price of crude petroleum (1%). However, the price of natural gas (1%) declined.

The index for this major group rose by 0.9 percent to 89.2 (provisional) from 88.4 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-


The index for ‘Mineral Oils’ group rose by 1.7 percent to 76.6 (provisional) from 75.3 (provisional) for the previous month due to higher price of naphtha (5%), petrol and kerosene (3% each), HSD and ATF (2% each) and furnace oil (1%). However, the price of LPG (5%) and bitumen and petroleum coke (1% each) declined.

The index for this major group rose by 0.2 percent to 112.9 (provisional) from 112.7 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-


The index for ‘Manufacture of Food Products’ group rose by 0.3 percent to 127.3 (provisional) from 126.9 (provisional) for the previous month due to higher price of copra oil (8%), rice bran oil (4%), instant coffee, cotton seed oil, condensed milk, castor oil and rice products (3% each), rice, non-basmati, soyabean oil and salt (2% each) and maida, other meats, (preserved/processed), palm oil, sugar, processed tea, gur, rapeseed oil, ghee and ice cream (1% each).  However, the price of processing & preserving of fish, crustaceans & molluscs & products thereof, manufacture of macaroni, noodles, couscous & similar farinaceous products and groundnut oil (4% each), honey, molasses and spices (including mixed spices) (3% each), powder milk, coffee powder with chicory, manufacture of cocoa, chocolate & sugar confectionery, basmati rice and manufacture of health supplements (2% each) and manufacture of bakery products, manufacture of prepared animal feeds, manufacture of processed ready to eat food, manufacture of starches & starch products, wheat flour (atta), wheat bran, processing & preserving of fruit and vegetables, butter and bagasse (1% each) declined.


The index for ‘Manufacture of Beverages’ group rose by 1.4 percent to 119.1 (provisional) from 117.4 (provisional) for the previous month due to higher price of bottled mineral water (5%), aerated drinks/soft drinks (incl. soft drink concentrates) (4%), rectified spirit (2%) and wine, beer and country liquor (1% each). However, the price of spirits (1%) declined.


The index for ‘Manufacture of Tobacco Products’ group rose by 2.9 percent to 147.7 (provisional) from 143.6 (provisional) for the previous month due to higher price of other tobacco products (7%) and biri (6%).  However, the price of cigarette (4%) declined.


The index for ‘Manufacture of Textiles’ group declined by 0.6 percent to 112.7 (provisional) from 113.4 (provisional) for the previous month due to lower price of cotton yarn (2%) and synthetic yarn and manufacture of other textiles (1% each). However, the price of texturised & twisted yarn (1%) moved up.


The index for ‘Manufacture of Wearing Apparel’ group rose by 0.4 percent to 136.5 (provisional) from 136 (provisional) for the previous month due to higher price of manufacture of knitted and crocheted apparel (4%).  However, the price of  manufacture of wearing apparel (woven), except fur apparel (1%) declined.


The index for ‘Manufacture of Leather and Related Products’ group rose by 1.2 percent to 120.9 (provisional) from 119.5 (provisional) for the previous month due to higher price of chrome tanned leather (3%), belt & other articles of leather and leather shoe (2% each) and waterproof footwear (1%). However, the price of gloves of leather (8%), travel goods, handbags, office bags, etc. (3%) and harness, saddles & other related items (1%) declined.


The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group rose by 0.3 percent to 132.1 (provisional) from 131.7 (provisional) for the previous month due to higher price of wooden panel (2%) and wooden board (non-electrical), plywood block boards, wooden block-compressed or not, timber/wooden plank, sawn/resawn and wooden splint (1% each).  However, the price of wood cutting, processed/sized and particle boards (1% each) declined.


The index for ‘Manufacture of Paper and Paper Products’ group rose by 0.9 percent to 118.5 (provisional) from 117.5 (provisional) for the previous month due to higher price of duplex paper (6%), paper carton/box and card board box (4% each), pulp board (2%) and base paper (1%).  However, the price of tissue paper (6%), bristle paper board (4%), paper bag including craft paper bag (3%), corrugated paper board and card board (2% each) and newsprint and laminated paper (1% each) declined.


The index for ‘Printing and Reproduction of Recorded Media ‘ group rose by 0.5 percent to 144.3 (provisional) from 143.6 (provisional) for the previous month due to higher price of printed form & schedule (6%), printed books and newspaper (2% each). However, the price of hologram (3d) (6%) and journal/periodical and sticker plastic (2% each) declined.


The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.1 percent to 111.2 (provisional) from 111.3 (provisional) for the previous month due to lower price of nitric acid (14%), phosphoric acid (9%), sulphuric acid and organic surface active agent (6% each), agro chemical formulation (4%), plasticizer, soda ash/washing soda and ammonium sulphate (3% each), aniline (including pna, ona, ocpna), fatty acid, aromatic chemicals, alkyl benzene, insecticide & pesticide, xlpe compound, poly vinyl chloride (pvc) and hair oil/body oil (2% each) and tooth paste/tooth powder, mixed fertilizer, menthol, ammonium nitrate, acrylic fibre, adhesive excluding gum, printing ink, sodium silicate, polyethylene, polyester fibre fabric, perfume/scent, explosive, adhesive tape (non-medicinal) and nitrogenous fertilizer, others (1% each).   However, the price of mono ethyl glycol (11%), poly propylene (pp) (9%), acetic acid and its derivatives (7%), amine (4%), carbon black (3%), ammonia liquid, catalysts, safety matches (match box) and polyester chips or polyethylene terepthalate (pet) chips (2% each) and liquid air & other gaseous products, face/body powder, other inorganic chemicals, hydrogen peroxide, toilet soap, caustic soda (sodium hydroxide), varnish (all types), gelatine, ethyl acetate, foundry chemical and organic chemicals (1% each) moved up.


The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.8 percent to 120.9 (provisional) from 120 (provisional) for the previous month due to higher price of antiseptics & disinfectants (5%), antioxidants (4%), antibiotics & preparations thereof (3%), plastic capsules, medical accessories, antipyretic, analgesic, anti-inflammatory formulations, anti-retroviral drugs for HIV treatment and anti cancer drugs (2% each) and cotton wool (medicinal), antidiabetic drug excluding insulin (i.e. tolbutam) and api & formulations of vitamins (1% each).  However, the price of steroids & hormonal preparations (including anti-fungal preparations) (10%), simvastatin and vaccine for hepatitis b (4% each), anti-malarial drugs (3%), sulpha drugs (2%) and anti inflammatory preparation, digestive enzymes and antacids, ayurvedic medicaments and anti allergic drugs (1% each) declined.


The index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.6 percent to 107.2 (provisional) from 107.9 (provisional) for the previous month due to lower price of motor car tyre and plastic tape (7% each), plastic button (6%), tractor tyre (5%), 2/3 wheeler tyre (4%), rubber tread and thermocol (3% each), medium & heavy commercial vehicle tyre and pvc fittings & other accessories (2% each) and motor car tube, solid rubber tyres/wheels, rubber cloth/sheet, v belt, processed rubber and acrylic/plastic sheet (1% each).   However, the price of tooth brush (7%), condoms (6%), rubberized dipped fabric (4%), rubber moulded goods (3%), cycle/cycle rickshaw tyre, plastic bottle, polythene film and polypropylene film (2% each) and rubber crumb, medium & heavy commercial vehicle tube, plastic bag, conveyer belt (fibre based), plastic components, polyester film (non-metalized), 2/3 wheeler rubber tube and plastic furniture (1% each) moved up.


The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group declined by 0.8 percent to 111.9 (provisional) from 112.8 (provisional) for the previous month due to lower price of porcelain sanitary ware (10%), ceramic tiles (vitrified tiles) (7%), clinker (5%), marble slab (2%) and ordinary portland cement, pozzolana cement, granite, toughened glass, plain bricks and stone, chip (1% each).  However, the price of graphite rod (13%), slag cement (6%), ordinary sheet glass (4%), non ceramic tiles (3%) and poles & posts of concrete, porcelain crockery, white cement, asbestos corrugated sheet and glass bottle (2% each) and cement blocks (concrete) (1%) moved up.


The index for ‘Manufacture of Basic Metals’ group rose by 0.8 percent to 97.8 (provisional) from 97.0 (provisional) for the previous month due to higher price of pig iron (6%), stainless steel pencil ingots/billets/slabs (4%), mild steel (ms) blooms, steel cables, lead ingots, bars, blocks, plates, ms pencil ingots and stainless steel tubes (3% each), brass metal/sheet/coils, ms bright bars and aluminium ingot (2% each) and ferromanganese, copper shapes - bars/rods/plates/strips, aluminium powder, galvanized iron pipes, hot rolled (hr) coils & sheets, including narrow strip, cold rolled (cr) coils & sheets, including narrow strip, aluminium shapes - bars/rods/flats and copper metal/copper rings (1% each).  However, the price of stainless steel coils, strips & sheets (9%), other ferro alloys (5%), angles, channels, sections, steel (coated/not) (3%), alloy steel castings, ms castings and aluminium disk and circles (2% each) and gp/gc sheet, aluminium metal, aluminium alloys, ferrochrome, silicomanganese, stainless steel bars & rods, including flats and cast iron, castings (1% each) declined.


The index for ‘Manufacture of Fabricated Metal Products, Except Machinery & Equipment’ group declined by 0.3 percent to 107.5 (provisional) from 107.8 (provisional) for the previous month due to lower price of stainless steel utensils (4%), steel structures (2%) and electrical stamping- laminated or otherwise, iron/steel cap, hose pipes in set or otherwise, forged steel rings and metal cutting tools & accessories (1% each).  However, the price of iron/steel hinges (4%), steel door (3%), bolts, screws, nuts & nails of iron & steel, boilers and pressure cooker (2% each) and aluminium utensils, copper bolts, screws, nuts, steel pipes, tubes & poles, jigs & fixture and lock/padlock (1% each) moved up.


The index for ‘Manufacture of Computer, Electronic & Optical Products’ group declined by 0.4 percent to 108.9 (provisional) from 109.3 (provisional) for the previous month due to lower price of capacitors (2%) and electro-diagnostic apparatus, used in medical, surgical, dental or veterinary sciences, air conditioner, computer peripherals and electronic printed circuit board (pcb)/micro circuit (1% each).  However, the price of sunglasses (8%), clock (5%), scientific time keeping device (3%) and telephone sets including mobile hand sets (1%) moved up.


The index for ‘Manufacture of Electrical Equipment’ group rose by 0.8 percent to 109.3 (provisional) from 108.4 (provisional) for the previous month due to higher price of electric switch and electrical resistors (except heating resistors) (9% each), fibre optic cables (7%), domestic gas stove and electric accumulators (6% each), insulating & flexible wire, solenoid valve, geyser and incandescent lamps (3% each), electric heaters, light fitting accessories, electric filament type lamps and generators & alternators (2% each) and aluminium wire, fan, connector/plug/socket/holder-electric, lead acid batteries for vehicles & other uses, washing machines/laundry machines, electric welding machine, meter panel and  flourescent tube (1% each).  However, the price of dry cells such as torch light batteries (9%), amplifier (8%), microwave oven (5%), batteries (4%), electric switch gear control/starter (2%) and rotor/magneto rotor assembly, pvc insulated cable, insulator, electrical relay/conductor, electric wires & cables and refrigerators (1% each) declined.


The index for ‘Manufacture of Machinery and Equipment’ group rose by 0.3 percent to 108.4 (provisional) from 108.1 (provisional) for the previous month due to higher price of pressure vessel and tank for fermentation & other food processing (9%), solar power system (solar panel & attachable equipment), packing machine and roller and ball bearings (4% each), manufacture of bearings, gears, gearing and driving elements (3%), conveyors - non-roller type, roller mill (raymond), air filters and rice mill machinery (2% each) and machinery used in the milling industry, oil pump, drilling machine, machinery for plastic products-extruded, pump sets without motor, gasket kit, agriculture implements and open end spinning machinery (1% each). However, the price of precision machinery equipment/form tools (6%), printing machinery (5%), chillers and separator (4% each), excavator, injection pump and chemical equipment & system (3% each), harvesters and pharmaceutical machinery (2% each) and grinding or polishing machine, lathes and agricultural tractors (1% each) declined.


The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group rose by 0.7 percent to 111.9 (provisional) from 111.1 (provisional) for the previous month due to higher price of piston ring/piston and compressor (4%), cylinder liners and minibus/bus (3% each), wheels/wheels & parts (2%) and shafts of all kinds, body (for commercial motor vehicles), radiators & coolers and engine (1% each).  However, the price of chassis of different vehicle types (2%) and steering gear control system, release valve and silencer and damper (1% each) declined.


The index for ‘Manufacture of other Transport Equipment’ group declined by 1.4 percent to 109.5 (provisional) from 111 (provisional) for the previous month due to lower price of motor cycles and scooters (2% each) and wagons (1%). However, the price of auto rickshaw/tempo/matador/three wheelers and bicycles of all types (1% each) moved up.


The index for ‘Manufacture of Furniture’ group rose by 1.4 percent to 119.5 (provisional) from 117.8 (provisional) for the previous month due to higher price of steel shutter gate (3%), foam and rubber mattress, iron/steel furniture and wooden furniture (2% each). However, the price of plastic fixtures (3%) declined.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 2.12% in July, 2017 to 4.41% in August, 2017.

For the month of June, 2017, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) and annual rate of inflation remained unchanged at its provisional level of 112.7 and 0.90 percent respectively as reported on 14.07.2017.

Emphasising the need to create an enabling environment through small steps such as planting more trees, Union Minister of Environment, Forest and Climate Change, Dr. Harsh Vardhan has said that new and innovative ways must be thought of, to bring more areas under forest and tree cover. Inaugurating a two-day conference on “Sustainable landscapes and forest ecosystems: Theory to Practice” here today, the Environment Minister urged the gathering to deliberate and come out with out-of-the-box ideas and solutions on increasing the forest cover much beyond the stipulated 33 per cent. “Innovation is the need of the hour. Innovation co-efficient now is more important than any other co-efficient”, Dr. Harsh Vardhan said.

Reiterating the Government’s commitment to increase the country’s forest cover from 24% to 33% of the geographical area and creating an additional carbon sink of 2.5 to 3 billion tons of CO2 equivalent in forests, as reflected in Nationally Determined Contribution, Dr. Harsh Vardhan said that the target is proposed to be achieved through a number of planned afforestation drives and initiatives. The Minister advocated the balancing of environmental and developmental concerns and also urged the gathering of scientists and foresters to devise a solution to the problem of weeds.

Referring to the forests being an integral part of Indian culture and tradition, the Environment Minister said that India has managed to successfully conserve and enhance its forest resources. He reminded the gathering that our ancestors had given us clean air and clean water and we must make efforts to preserve them for the future generations.

Dr. Harsh Vardhan launched the “Wood is Good” campaign on the occasion. Wood is a climate-friendly material, as it is a renewable resource, having zero carbon footprint.

The Partnership for Land Use Science (Forest-Plus) is a joint programme by the United States Agency for International Development (USAID) and Ministry of Environment, Forest and Climate Change (MoEF&CC) to strengthen capacity for REDD (Reducing Emissions from Deforestation and Forest Degradation) implementation in India. The programme brings together experts from India and the United States to develop technologies, tools and methods of forest management to meet the technical challenges of managing forests for the health of ecosystem, carbon stocks, biodiversity and livelihood. Some of the objectives of the conference include – exploring issues and opportunities for ecosystem approach to land management in India; discussing how the approaches and tools developed under the Forest-PLUS programme can be used to improve forest management in India and to document and disseminate that learning with a wider group.

Director General, Forest and Special Secretary, MoEFCC, Mr. Siddhanta Das, Mission Director, USAID India, Mr. White, USAID Director for Energy & Environment, officers of the MOEF&CC, Inspector General, MoEF&CC, Ms. Rekha Pai, State Forest Departments and representatives of national institutes and Non-Governmental Organisations were among the distinguished ones present in the gathering.

*****

HK

Smt. Nirmala Sitharaman, Hon’ble Raksha Mantri flagged-off Indian Naval Sailing Vessel Tarini (INSV Tarini) with an all women crew from INS Mandovi boat pool, Goa at 01:00 PM today (10 Sep17). This is the first-ever Indian circumnavigation of the globe by an all-women crew and shall attempt to circumnavigate the globe on Indian Navy’s sailing vessel INSV Tarini. The crew is expected to return to Goa in April 2018, on completion of the voyage. The expedition will be covered in five legs, with stop-overs at 4 ports viz. Fremantle (Australia), Lyttleton (New Zealand), Port Stanley (Falklands), and Cape Town (South Africa).

The event was attended by Shri Manohar Parrikar, Hon’ble Chief Minister of Goa, Admiral Sunil Lanba, the Chief of the Naval Staff, Vice Admiral AR Karve Flag Officer Commanding-in-Chief, Southern Naval Command, Vice Admiral R Hari Kumar, Controller Personnel Services, IHQ MoD (Navy) besides other senior naval retired and serving officials as well as civilian dignitaries including family members of the crew and sailing enthusiasts.

During the ceremony at Goa, the Hon’ble Raksha Mantri said that, “this is a historic day for the country, which will be marked in the Navigation history of the world, and globally our women are going to stand out for something which most navies of the world would not have even thought of”. She further said that, “For this initiative I appreciate the Indian Navy and the mentors for inspiring, motivating and training these brave and courageous women”. She expressed her absolute pleasure for being present at the momentous occasion and felt honoured to be amongst the crew and wished them a successful voyage.

The Chief of the Naval Staff, Admiral Sunil Lanba expressed satisfaction at continuation of the legacy of Indian Navy’s Ocean sailing expeditions which commenced in 1988 with expedition ‘Samudra’. This was followed by first solo circumnavigation by Captain Dilip Donde (Retd) and non-stop circumnavigation of the globe by Cdr Abhilash Tomy resulting in India joining a select group of nine nations which have achieved such feats. He said that the present circumnavigation by an all women crew is an extension of the above efforts and reflection of the Government’s efforts at Women Empowerment – “Nari Shakti”.

INSV Tarini is a 55-foot sailing vessel, which has been built indigenously, and was inducted in the Indian Navy earlier this year, thus showcasing the ‘Make in India’ initiative on the World forum. INSV Tarini is being skippered by Lt. Commander Vartika Joshi, and the crew comprises Lt. Commanders Pratibha Jamwal, P Swathi, and Lieutenants S Vijaya Devi, B Aishwarya and Payal Gupta.

During the voyage, the crew would monitor and report marine pollution on the high seas, as also interact extensively with local PIOs during various port halts to promote Ocean sailing.

During their voyage, the crew would also collate and update Meteorological/ Ocean/ Wave data on a regular basis for accurate weather forecast by India Meteorological Department (IMD) and subsequent analysis by research and development organisations.

The expedition titled ‘Navika Sagar Parikrama’, is in consonance with the National policy to empower women to attain their full potential. It also aims to help discard the societal attitudes and mindset towards women in India by raising visibility of their participation in challenging environment.

Sailing encourages the use of environment friendly non-conventional renewable energy resources and this expedition therefore aims at harnessing the renewable energy.

________________________________________________________________________________________

DKS/ SW/RS/SDR                                                                                                               60/17

The twin-island state Antigua and Barbuda has taken a leading role in terms of clean energy supply in the Caribbean.

Tamarugal Solar Project in the Tarapacá region will provide reliable, non-intermittent electricity from solar energy 24-hours a day 

SolarXXL is an already well known and successful company for photovoltaics in Europe.

France’s EDF Renewable Energy (EN) has inaugurated the 146 MW Boléro solar plant in the Atacama Desert of Northern Chile, according to a press release.

Omron is ready to realise new photovoltaic business opportunities in Argentina.

SUNEW, a Brazilian company located in one of the principal poles of solar energy on the planet, just announced the largest global use of OPV (Organic Photovoltaic) technology, considered to be the third generation in solar energy, installed on the outside of a commercial building.

SIMI VALLEY, Calif., Sept. 22, 2017 /PRNewswire/ -- The City of Simi Valley celebrated the energization of a city-wide solar program during a ribbon cutting event at the Simi Valley Police Department yesterday. The Police Department is one of five City locations with new rooftop solar, solar ground mount, and solar canopy parking structures that is now generating enough clean, renewable energy to power one third of all City facilities.

Through a long-term relationship with a Pasadena-based team from OpTerra Energy Services, Simi Valley held the community event to showcase the 2.2MW of solar that was recently completed. Regional leaders from the Ventura County Office of Education, and other local elected officials attended in support of the impactful energy project, which is expected to save the City $15.5 million in energy savings over the first 20 years of production.

Energizing Long-Term Success
As a result of Simi Valley's solar and site modernization plan across five community sites, the City of Simi Valley is set to accomplish the following:

  • $15.5MM in expected net savings over the 20-year program life, and $1.3 million per year thereafter
  • 2.2 MW of solar photovoltaic (PV) capacity at 5 sites, including City Hall, the Police Department, the Public Library, the Senior Center, and the Water Quality Control Plant
  • 1/3 of the City's energy will be supplied by clean, solar generation
  • 2,450 metric tons in CO2 emissions eliminated per year, the equivalent to removing 518 cars from the road
  • 15 internships created for Simi Valley high school students to give them real world experience in energy and STEM careers, aligned with the implementation of the solar project

Simi Valley Conserves
In addition to the successful solar implementation project, the partnership between the City of Simi Valley and OpTerra encompasses an energy conservation awareness program called Simi Valley Conserves. Over the solar program development in 2017, Simi Valley Conserves helped build workforce capacity in clean tech and energy by training and hiring 15 Simi Valley Unified School District senior high school students as Energy Ambassadors.

As Mayor Bob Huber shared during the event, "Along with our successful solar program this year, we are also very proud of our high school Energy Ambassadors who helped educate our residents about easy steps we can all take to be more sustainable with our resources – helping to save Simi Valley households financially as well. As a result of Simi Valley Conserves, these hardworking students engaged community members at 80 events and helped organize energy consultations for 280 homes." 

Showcasing Leadership in Ventura County
During Wednesday's site energization celebration, local elected officials and regional stakeholders commended the City leadership for continuing its track record of ongoing sustainability programs aligned with upgrades to civic spaces.

John Mahoney, President and CEO of OpTerra Energy Services, stated, "Through a successful, united partnership, the City of Simi Valley and OpTerra have achieved a fiscally and environmentally advantageous program that will have long-term positive economic and human impact in the community. OpTerra is proud to recognize Simi Valley's leadership as a steward of taxpayer dollars in Ventura County, integrating long-term energy savings projects into plans to improve public services, as well as prioritizing the build-out of a successful student internship program tied to the energy work."

About the City of Simi Valley:
For more information about the City of Simi Valley, visit http://www.simivalley.org/.

About OpTerra Energy Services:
OpTerra Energy Services is a national energy company that works with education, local government, commercial, industrial, and institutional organizations to implement efficiency and sustainable energy solutions that save money, enhance safety, improve assets, and protect the environment. As a subsidiary of ENGIE, the number one energy efficiency services provider in the world, OpTerra Energy Services provides a unique and extensive set of energy and sustainability management services to thousands of customers across the U.S. The company has provided more than $2 billion in energy savings for its customers over the past 40 years. For more information, please visit www.opterraenergy.com or contact Lani Wild, Communications Manager, at 415-735-9080.

View original content with multimedia:http://www.prnewswire.com/news-releases/city-of-simi-valley-celebrates-energy-program-expected-to-save-155-million-and-power-one-third-of-all-facilities-300524441.html

SOURCE OpTerra Energy Services

Related Links

http://www.opterraenergy.com

HILLSBORO, Ore.--(BUSINESS WIRE)--SolarWorld Americas Inc., the largest U.S. crystalline-silicon solar-technology manufacturer for more than 42 years, commended today’s 4-0, bipartisan vote of the U.S. International Trade Commission (ITC) that determined a surge of imports has seriously injured the domestic solar cell and panel manufacturing industry.

The determination means that the underlying Section 201 case will move into a remedy phase. SolarWorld and Suniva Inc. are co-petitioners in the case.

“On behalf of the entire solar cell and panel manufacturing industry, we welcome this important step toward securing relief from a surge of imports that has idled and shuttered dozens of factories, leaving thousands of workers without jobs,” said Juergen Stein, CEO and president of SolarWorld Americas. “In the remedy phase of the process, we will strive to help fashion a remedy that will put the U.S. industry as a whole back on a growth path. We will continue to invite the Solar Energy Industries Association (SEIA) and our industry partners to work on good solutions for the entire industry. It is time for the industry to come together to strengthen American solar manufacturing for the long term.”

Nearly 30 U.S. solar-panel producers ceased manufacturing operations from 2012 to 2016, the period of investigation in the case, according to ITC figures. During this period, global imports increased nearly five-fold. This surge was led by China, whose imports rose by more than 700 percent, according to International Trade Commission data.

The ITC will now conduct the remedy phase, including a hearing on Oct. 3 and a recommendation to the President on Nov. 13. President Trump then will have about two months to adopt that recommendation or another remedy.

About SolarWorld REAL VALUE: SolarWorld Americas Inc., the largest U.S. crystalline-silicon solar manufacturer for more than 42 years, produces and sells high-tech solar power solutions and, in doing so, contributes to a cleaner energy supply throughout the Americas. The company maintains 430 megawatts of annual capacity to produce solar cells and 550 MW of capacity to manufacture solar modules. The company’s brand stands for a proven track record of quality and reliability, and SolarWorld is the only producer whose industrial lineage has outlived its products’ 25- and 30-year performance guarantees. SolarWorld upholds high social standards and commits itself to resource- and energy-efficient production. With its program Solar2World, the company supports the expansion of solar power in developing countries in Latin America. Connect with SolarWorld on Facebook, Twitter, LinkedIn, Instagram and www.solarworld.com.

NEW DELHI--(BUSINESS WIRE)--Azure Power (NYSE: AZRE), a leading independent solar power producer in India, has announced that it has commissioned the final phase of its 50 megawatt (MW) solar power plant in the state of Uttar Pradesh. The 50 MW project is spread across 300+ acres of land.

Azure Power will provide power for 25 years at a tariff of INR 4.78 (~US$ 0.07) per kWh to NTPC, the largest power utility of the Government of India. NTPC received a AAA debt rating from CRISIL, a Standard & Poor’s Company. Azure Power secured the 50 MW PPA through an auction under the National Solar Mission Phase II, Batch-II Tranche I.

Uttar Pradesh is the most populous state in India and has a large peak energy supply deficit, according to the Central Electricity Authority. In addition, CRISIL projects that over 10 million unelectrified households will be connected by 2019. Azure Power is one the largest solar developers in Uttar Pradesh and built the first utility scale solar project in Uttar Pradesh in 2015.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With the commissioning of this plant, we have once again demonstrated our strong project development, engineering, and execution capabilities. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the state of Uttar Pradesh for all the cooperation and support extended.”

About Azure Power

Azure Power (NYSE::AZRE) is a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories. With over 150 MWs of high quality solar rooftop assets, the company has one of the largest rooftop portfolios in the country. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.

For more information, visit: www.azurepower.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

PLANO, Texas, Sept. 22, 2017 /PRNewswire/ -- Everything is bigger in Texas. Everything, that is, except Toyota's environmental footprint. 

Toyota Motor North America's (TMNA) headquarters campus in Plano, Texas has officially achieved LEED Platinum from the U.S. Green Building Council (USGBC). Jonathan Kraatz, executive director, USGBC Texas Chapter, presented the prized Platinum plaque to Jim Lentz, TMNA president and chief executive officer, today at the new campus. LEED, or Leadership in Energy and Environmental Design, is the most widely used green building rating system in the world.

"At Toyota, we have a longstanding commitment to sustainability and preserving our natural resources," said Lentz. "With the installation of greenspaces, thousands of solar panels, a massive rain water capture system, and natural light wells, we have designed our new headquarters to reflect the local habitat and enhance its biodiversity. Recognition as a LEED Platinum facility is a testament of our efforts to become a model for energy efficiency and sustainability, and speaks to our challenge to ourselves to create a net positive impact on the planet by 2050."

"USGBC is proud to award LEED Platinum to Toyota, for their thoughtfulness in their campus energy planning and space design as well as the overall net positive impact on the community and environment," said Kraatz. "Our mission at USGBC has challenged organizations to move faster and reach further than ever before, and Toyota's new Texas campus is a great example of what can be accomplished with the right leadership."

The state-of-the-art, 100-acre campus boasts a Platinum-sized list of sustainability aspects, from renewable energy to drought resistant landscaping:  

Renewable Energy

  • Largest onsite corporate solar installation among non-utility companies in Texas
  • 8.79-Megawatt solar power system, designed and installed by SunPower Corp.
  • Produces up to 33 percent of daily electric needs for headquarters campus
  • Reduces annual carbon dioxide emissions by 7,198 metric tons
  • Creates enough energy to power 1,200 average US homes for a year
  • Installation of high efficiency lighting and building envelopes to reduce energy usage on campus
  • Specialized rooftop design teeming with plant life to manage rainwater, reduce heat and further insulate the buildings
  • Flexible energy contract to preserve and resell excess power generation back to the grid
  • Grid energy offset by Texas wind farm renewable energy credits

Repurposed Rainwater

  • State-of-the-art rainwater capture system will provide up to three months of water supply for irrigation use
  • Cistern water storage with a capacity to hold 400,000 gallons of harvested rain water
  • Estimated to save more than 11 million gallons of potable (drinking) water annually
  • Excess drain water will be collected and repurposed for sanitary facility use

Recycling

  • More than 99 percent of the construction waste was recycled
  • Construction waste was sorted offsite at North Texas' first Construction and Demolition waste processing facility

Sustainable Landscaping

  • Exterior landscaping features drought-tolerant, North Texas indigenous plants like savannah, oaklands and wildflower meadows
  • Campus landscape will provide a natural habitat for endangered pollinators and monarch butterflies
  • Approximately 1,300 trees planted onsite by Toyota
  • More than 80 mature trees saved or relocated onsite, including a 100-year-old oak tree
  • Landscaping will be managed without expensive mowing, fertilizers, chemicals or artificial irrigation
  • Historic wetlands on the northeast corner of the campus were preserved to protect its natural state

Professionals who led this project include a host of Dallas-based firms: KDC Real Estate Development & Investments to develop and build the campus, architect Corgan Associates to design the campus, and Austin Commercial to manage the construction.

In late 2015, Toyota Motor Corporation announced the 2050 Toyota Environmental Challenge, a set of ambitious environmental goals to reach beyond net zero, and create a net positive impact on the planet. To learn more, please visit http://www.toyota-global.com/sustainability/environment/challenge2050/.

About Toyota

Toyota (NYSE: TM) has been a part of the cultural fabric in the U.S. and North America for 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands. During that time, Toyota has created a tremendous value chain as our teams have contributed to world-class design, engineering, and assembly of more than 33 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 46,000 people (more than 36,000 in the U.S.).  Our 1,800 North American dealerships (nearly 1,500 in the U.S.) sold almost 2.7 million cars and trucks (2.45 million in the U.S.) in 2016 – and about 85 percent of all Toyota vehicles sold over the past 15 years are still on the road today.  

Toyota partners with community, civic, academic, and governmental organizations to address our society's most pressing mobility challenges. We share company resources and extensive know-how to support non-profits to help expand their ability to assist more people move more places. For more information about Toyota, visit www.toyotanewsroom.com. 

View original content with multimedia:http://www.prnewswire.com/news-releases/toyota-takes-the-leed-in-texas-300524048.html

SOURCE Toyota Motor North America

Related Links

https://www.toyota.com

SHANGHAI, Sept.  22, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it supplied 28.2 MW dc of its solar PV modules to Swinerton Renewable Energy, for the construction of the Jacumba Solar Project.

Located in San Diego County, California, the Jacumba Solar Project consists of more than 80,000 JinkoSolar 1500 volt monocrystalline PERC modules. The project was energized in early August, seven months after it was acquired by BayWa r.e in late 2016. Swinerton Renewable Energy provided engineering, procurement, and construction (EPC) for the project.

"JinkoSolar has worked tirelessly to build and maintain its reputation as the most reliable module supplier in the utility market," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. "Swinerton's decision to select Jinko for a project with an aggressive schedule is a testament to our ability to deliver on-time."

"Our continued partnership with JinkoSolar, a trusted solar provider in our industry, helped us deliver this project on-time and on-budget, providing maximum value to our client, BayWa r.e.," said George Hershman, Senior Vice President and General Manager of Swinerton Renewable Energy. "This value is passed on to the larger U.S. economy, creating jobs and stimulating the local economies in which we work."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

About Swinerton Renewable Energy

Swinerton Renewable Energy (SRE) offers engineering, procurement, construction, and SOLV® services for solar photovoltaic plants throughout North America to a diverse range of clients. Over 125 years of building landmark projects, Swinerton has forged a reputation for unsurpassed safety, workmanship, on-time delivery, and customer satisfaction. Today, our team takes pride in building cost-effective solar systems that will generate reliable, clean power for many years to come. SRE has delivered over 2.5 GW of solar projects and our SOLV team manages over 4 GW of PV plants. Learn more about Swinerton Renewable Energy at swinertonrenewable.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-supplies-28-mwdc-of-solar-pv-modules-to-jacumba-solar-project-in-the-us-300524244.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept.  22, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it supplied 28.2 MW dc of its solar PV modules to Swinerton Renewable Energy, for the construction of the Jacumba Solar Project.

Located in San Diego County, California, the Jacumba Solar Project consists of more than 80,000 JinkoSolar 1500 volt monocrystalline PERC modules. The project was energized in early August, seven months after it was acquired by BayWa r.e in late 2016. Swinerton Renewable Energy provided engineering, procurement, and construction (EPC) for the project.

"JinkoSolar has worked tirelessly to build and maintain its reputation as the most reliable module supplier in the utility market," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. "Swinerton's decision to select Jinko for a project with an aggressive schedule is a testament to our ability to deliver on-time."

"Our continued partnership with JinkoSolar, a trusted solar provider in our industry, helped us deliver this project on-time and on-budget, providing maximum value to our client, BayWa r.e.," said George Hershman, Senior Vice President and General Manager of Swinerton Renewable Energy. "This value is passed on to the larger U.S. economy, creating jobs and stimulating the local economies in which we work."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

About Swinerton Renewable Energy

Swinerton Renewable Energy (SRE) offers engineering, procurement, construction, and SOLV® services for solar photovoltaic plants throughout North America to a diverse range of clients. Over 125 years of building landmark projects, Swinerton has forged a reputation for unsurpassed safety, workmanship, on-time delivery, and customer satisfaction. Today, our team takes pride in building cost-effective solar systems that will generate reliable, clean power for many years to come. SRE has delivered over 2.5 GW of solar projects and our SOLV team manages over 4 GW of PV plants. Learn more about Swinerton Renewable Energy at swinertonrenewable.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-supplies-28-mwdc-of-solar-pv-modules-to-jacumba-solar-project-in-the-us-300524244.html

SOURCE JinkoSolar Holding Co., Ltd.

Related Links

http://www.jinkosolar.com

SHANGHAI, Sept.  22, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, today announced that it supplied 28.2 MW dc of its solar PV modules to Swinerton Renewable Energy, for the construction of the Jacumba Solar Project.

Located in San Diego County, California, the Jacumba Solar Project consists of more than 80,000 JinkoSolar 1500 volt monocrystalline PERC modules. The project was energized in early August, seven months after it was acquired by BayWa r.e in late 2016. Swinerton Renewable Energy provided engineering, procurement, and construction (EPC) for the project.

"JinkoSolar has worked tirelessly to build and maintain its reputation as the most reliable module supplier in the utility market," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. "Swinerton's decision to select Jinko for a project with an aggressive schedule is a testament to our ability to deliver on-time."

"Our continued partnership with JinkoSolar, a trusted solar provider in our industry, helped us deliver this project on-time and on-budget, providing maximum value to our client, BayWa r.e.," said George Hershman, Senior Vice President and General Manager of Swinerton Renewable Energy. "This value is passed on to the larger U.S. economy, creating jobs and stimulating the local economies in which we work."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

About Swinerton Renewable Energy

Swinerton Renewable Energy (SRE) offers engineering, procurement, construction, and SOLV® services for solar photovoltaic plants throughout North America to a diverse range of clients. Over 125 years of building landmark projects, Swinerton has forged a reputation for unsurpassed safety, workmanship, on-time delivery, and customer satisfaction. Today, our team takes pride in building cost-effective solar systems that will generate reliable, clean power for many years to come. SRE has delivered over 2.5 GW of solar projects and our SOLV team manages over 4 GW of PV plants. Learn more about Swinerton Renewable Energy at swinertonrenewable.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-supplies-28-mwdc-of-solar-pv-modules-to-jacumba-solar-project-in-the-us-300524244.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 20, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the photovoltaic (PV) industry, today announced that, in addition to being ranked as a top solar brand in debt financed projects, it was named the most "bankable" PV manufacturer by Bloomberg New Energy Finance (BNEF) among 52 module brands. The rankings are based on BNEF's global survey to key PV stakeholders on which module brands used in projects are most likely to obtain non-recourse debt financing from commercial banks.

Survey respondents include banks, technical consultants, EPCs, and independent power producers (IPPs) from all around the world. Considering product quality, long term reliability, field deployment performance, and the manufacturer's financial strength, 100% of survey respondents considered JinkoSolar as bankable. Aligning with JinkoSolar's high bankability score, BNEF's database also shows that projects using JinkoSolar's modules has secured more debt financing than any other brand since July 2015.

"The result of this survey confirms that JinkoSolar is the most preferred brand by banks, the top brand that industry players are most willing to use in their projects, and also the top brand that source of finances are most willing to fund," said Kangping Chen, CEO of JinkoSolar. "We maintained our leading position as the largest manufacturer of PV modules in the world by delivering 4.9GW module in the first half of 2017 thanks to our continuous endeavors in quality and technology improvements. We will continue invest in quality to assure delivery of power and performance in the field with a higher level of product quality and reliability as we pursue further growth both in established markets and emerging ones."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions.  JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Christian Arnell
Christensen, Beijing 
Tel: +86 10 5900 2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-ranked-as-top-solar-brand-used-in-debt-financed-projects-and-most-bankable-pv-manufacturer-by-bloomberg-new-energy-finance-300522725.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 11, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar"), a global leader in the photovoltaic (PV) industry, today introduced new technology and customer-centric solar solutions at Solar Power International (SPI).

"As an industry leader, JinkoSolar continues to invest in R&D and complementary solutions that help its customers better compete in the solar market," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc.  "The various solutions we are showcasing this year should provide customers with winning combinations."

Half-Cell and Bifacial Cell Technology
Eagle HC is a half cell module, which increases power output beyond 305 watts and 370 watts for both 60 and 72 cell formats.  Eagle BF is a bifacial module, which is under development and ready for deployment soon. 

Module Level Power Electronics
Eagle AC is JinkoSolar's new AC module with partner Enphase.  As a single integrated unit, the Eagle AC offers customers simplified logistics and faster installation times.  Eagle MX G2 is JinkoSolar's second generation module with partner Maxim.  The Eagle MX G2 has embedded optimizers and now introduces a voltage limiting feature which allows for longer strings.

Smart + Solar
JinkoSolar's all black mono PERC modules can also be found on Green Builder Media's Flex House at SPI, a small, flexible demonstration home that is completely connected, intelligent, resilient, and sustainable, including a fully integrated smart plus solar system. 

Financing
Supplementing its current stable of distributed financing offerings is JinkoSolar's new partnership with CleanFund's commercial PACE program.  Customers who use both JinkoSolar modules and CleanFund's commercial PACE financing for projects will be eligible for special pricing and incentives. 

More information is available at JinkoSolar's booth #3965 at Solar Power International, taking place in Las Vegas, Nevada, September 11-13.  

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 5.0GW for silicon ingots and wafers, 4.0GW for solar cells, and 6.5 GW for solar modules, as of March 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities in China (5), Malaysia, Portugal and South Africa, and 16 overseas subsidiaries across Japan (2),  Singapore, India, Turkey, Germany, Italy, Switzerland, Spain, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa. JinkoSolar has 16 global sales offices across China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email:
This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-showcases-new-solutions-at-solar-power-international-spi-300516860.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 8, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the photovoltaic (PV) industry, today announced that its wholly owned subsidiary, JINKOSOLAR CANADA CO., LTD, will supply approximately 17 MW dc of its solar PV modules to Borea Construction ULC ("Borea Construction") for the construction of the Brooks Solar Project in Brooks, Alberta in Canada.

The Brooks Solar Project is the first utility-scale solar project in western Canada and is owned by Elemental Energy Inc. ("Elemental"), a Vancouver-based renewable energy developer, investor, and operator. Elemental worked collaboratively with many stakeholders to successfully advance the project through late stage development and construction phases. Emissions Reduction Alberta is a contributing partner on the project.

Over 48,500 of JinkoSolar's high-efficiency Mono PERC modules will be used for the Brooks Solar Project, Canada's first solar project utilizing Mono PERC solar PV modules.

"We are proud to work with Borea Construction and Elemental Energy on the Brooks Solar Project, a landmark project for the province of Alberta," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc.

"We needed very high efficiency modules for the Brooks Solar Project," said Murray Westerberg, Director, Western Canada of Borea Construction, "and JinkoSolar presented the best value."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

About Elemental Energy Inc. (Elemental)

Elemental is a developer, investor and operator of renewable energy projects, with interests in operating and development stage hydro, wind, and solar projects throughout North America. Elemental provided 100% of the equity financing for Brooks Solar and will be the long-term owner and operator of the project.

To learn more visit: www.elementalenergy.ca

About Borea Construction ULC (Borea Construction)

Borea Construction is Canada's leader in renewable energy construction having constructed nearly 1/3 of all renewable energy projects in Canada, which translates into 40+ projects and 4,300+ MW of wind and solar energy from coast to coast.

Borea Construction is a family-owned joint venture between Pomerleau, one of Canada's premier construction firms, and Blattner Energy, the largest contractor specializing in renewable energy construction in North America.

To learn more visit www.boreaconstruction.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-supplies-17-mwdc-of-solar-pv-modules-to-brooks-solar-project-in-canada-300516242.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 6, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced its unaudited financial results for the second quarter ended June 30, 2017.

Second Quarter 2017 Highlights

  • Total solar module shipments were 2,884 megawatts ("MW"), an increase of 39.5% from 2,068 MW in the first quarter of 2017 and an increase of 68.1% from 1,716 MW in the second quarter of 2016.
  • Total revenues were RMB7.92 billion (US$1.17 billion), an increase of 37.2% from the first quarter of 2017 and an increase of 39.8% from the second quarter of 2016.
  • Gross margin was 10.5%, compared with 11.2% in the first quarter of 2017 and 18.1% in the second quarter of 2016.
  • Income from operations was RMB85.3 million (US$12.6 million), compared with RMB56.8 million in the first quarter of 2017 and RMB308.8 million in the second quarter of 2016.
  • Net income attributable to the Company's ordinary shareholders from continuing operations was RMB47.4 million (US$7.0 million) in the second quarter of 2017, compared with RMB60.6 million in the first quarter of 2017 and RMB280.1 million in the second quarter of 2016.
  • Diluted earnings per American depositary share ("ADS") from continuing operations were RMB1.48(US$0.20).
  • Non-GAAP net income attributable to the Company's ordinary shareholders from continuing operations in the second quarter of 2017 was RMB61.2 million (US$9.0 million), compared with RMB80.4 million in the first quarter of 2017 and RMB344.1 million in the second quarter of 2016.
  • Non-GAAP basic and diluted earnings per ADS from continuing operations were RMB1.92(US$0.28) and RMB1.88(US$0.28), respectively, in the second quarter of 2017.

Mr. Kangping Chen, JinkoSolar's Chief Executive Officer commented, "Second quarter module shipments once again hit a record high, increasing 39.5% sequentially to 2,884MW. Total revenues hit $1.17 billion, an increase of 37.2% sequentially while our gross margin dropped slightly to 10.5%, from 11.2% in the first quarter of 2017."

"Shipments over the past few quarters have surged to new highs, allowing us to continuously capitalize on the growing recognition of JinkoSolar's brand and excellent products and services to increase our market share. While ASPs declined during the quarter, prices along our supply chain remained relatively high and impacting our margins. We also worked with our OEM partners more extensively than expected during the quarter to ensure timely delivery, which adversely impacted our margins. We are currently reviewing our strategy in order to improve profitability and further cut down the use of OEM going forward. Our efforts will also be focused on strengthening inventory management and controlling operating expenses." 

"Demand in China was very strong during the quarter, boosted by rush orders before the June 30th Feed-in-Tariff cutoff. This momentum is carrying on into the third quarter with the Top Runner projects, PV Poverty Alleviation projects, and DG projects generating stable demand, which is expected to continue throughout the rest of the year. The long-term demand of Chinese market will be supported by the upwards revision of 5-year targets set by the NEA. The Section 201 petition in the US continues to create market uncertainties. We remain committed to the US market and believe its long-term growth momentum will not change. Demand in emerging markets continued to grow, accounting for a larger portion of our shipments during the quarter. India's 100 GW target by 2022 is solid and will continue to create strong demand going forward. The solar markets of Mexico, Argentina and Brazil in Latin America are rapidly growing in scale while Egypt and Jordan in Middle East have the potential to become GW level markets next year. We expect demand in emerging markets to continue to grow in 2018."

"We are ramping up our mono wafer and PERC cell capacity. Our diamond wire-cutting multiply wafers are now in mass production and are combined with our black silicon cell technology. Our technological focus remains on efficiency and cost. With solid progress being made in the development of new technology, we will continue to maintain flexible and dynamic production capacity in order to meet demand from a rapidly changing market.

"We already have strong visibility in our order book through the rest of the year and have already begun to take orders for next year. We expect ASPs to remain stable during the second half of the year. With our focus now shifting towards profitability, I am confident that we will benefit from the long-term growth prospects of the industry while generating sustainable returns for our shareholders."

Second Quarter 2017 Financial Results

Total Revenues

Total revenues in the second quarter of 2017 were RMB7.92 billion (US$1.17 billion), an increase of 37.2% from RMB5.78 billion in the first quarter of 2017 and an increase of 39.8% from RMB5.67 billion in the second quarter of 2016. The sequential and year-over-year increases were mainly attributable to an increase in solar module shipments, partially offset by the decline of average selling price of solar modules in the second quarter of 2017.

Gross Profit and Gross Margin

Gross profit in the second quarter of 2017 was RMB834.8 million (US$123.1 million), compared with RMB649.0 million in the first quarter of 2017 and RMB1.03 billion in the second quarter of 2016. The sequential increase was mainly attributable to the increase in solar module shipments. The year-over-year decrease was mainly attributable to a decline in the average selling price of solar modules in the second quarter of 2017.

Gross margin was 10.5% in the second quarter of 2017, compared with 11.2% in the first quarter of 2017 and 18.1% in the second quarter of 2016 mainly attributable to a decline in the average selling price of solar modules in the second quarter of 2017.

Income from Operations and Operating Margin

Income from operations in the second quarter of 2017 was RMB85.3 million (US$12.6 million), compared with RMB56.8 million in the first quarter of 2017 and RMB308.8 million in the second quarter of 2016. Operating margin in the second quarter of 2017 was 1.1%, compared with 1.0% in the first quarter of 2017 and 5.4% in the second quarter of 2016. The year-over-year decrease of operating margin was mainly attributable to a decline in gross margin in the second quarter of 2017.

Total operating expenses in the second quarter of 2017 were RMB749.5 million (US$110.6 million), an increase of 26.6% from RMB592.2 million in the first quarter of 2017 and an increase of 4.2% from RMB719.6 million in the second quarter of 2016. The sequential and year-over-year increases were primarily due to the increase in shipping costs, which was in line with the increase in solar module shipments.

Total operating expenses accounted for 9.5% of total revenues in the second quarter of 2017, compared to 10.3% in the first quarter of 2017 and 12.7% in the second quarter of 2016.

Interest Expense, Net

Net interest expense in the second quarter of 2017 was RMB80.6 million (US$11.9 million), an increase of 41.1% from RMB57.1 million in the first quarter of 2017 and an increase of 7.4% from RMB75.0 million in the second quarter of 2016. The sequential increase was due to the interest expense associated with the discounted notes receivable.

Exchange Gain / (Loss), Net

The Company recorded a net exchange loss of RMB34.2 million (US$5.0 million) in the second quarter of 2017, compared to a net exchange loss of RMB5.2 million in the first quarter of 2017 and a net exchange gain of RMB67.1 million in the second quarter of 2016.

Income Tax Expense / (Benefit), Net

The Company recorded an income tax benefit of RMB32.5 million (US$4.8 million) in the second quarter of 2017, compared with an income tax expense of RMB1.5 million in the first quarter of 2017 and an income tax expense of RMB90.4 million in the second quarter of 2016. The sequential change was mainly due to the additional 2016 income tax deduction for R&D costs approved by local tax bureau in the second quarter of 2017.

Net Income and Earnings per Share

Net income attributable to the Company's ordinary shareholders from continuing operations in the second quarter of 2017 was RMB47.4 million (US$7.0 million), compared with RMB60.6 million in the first quarter of 2017 and RMB280.1 million in the second quarter of 2016.

Basic and diluted earnings per ordinary share from continuing operations were both RMB0.37(US$0.05) during the second quarter of 2017. This translates into basic and diluted earnings per ADS from continuing operations of both RMB1.48(US$0.20).

Non-GAAP net income in the second quarter of 2017 was RMB61.2 million (US$9.0 million), compared with RMB80.4 million in the first quarter of 2017 and RMB344.1 million in the second quarter of 2016.

Non-GAAP basic and diluted earnings per ordinary share from continuing operations were RMB0.48(US$0.07) and RMB0.47(US$0.07), respectively, during the second quarter of 2017. This translates into non-GAAP basic and diluted earnings per ADS from continuing operations of RMB1.92(US$0.28) and RMB1.88(US$0.28), respectively.

Financial Position

As of June 30, 2017, the Company had RMB1.90 billion (US$280.1 million) in cash and cash equivalents and restricted cash, compared with RMB1.71 billion as of March 31, 2017.

As of June 30, 2017, the Company's accounts receivables due from third parties were RMB6.47 billion (US$954.5 million), compared with RMB5.93 billion as of March 31, 2017.

As of June 30, 2017, the Company's inventories were RMB5.20 billion (US$767.7 million), compared with RMB5.37 billion as of March 31, 2017.

As of June 30, 2017, the Company's total interest-bearing debts were RMB7.41 billion (US$1.09 billion), compared with RMB6.10 billion as of March 31, 2017.

Second Quarter 2017 Operational Highlights

Solar Module Shipments

Total solar module shipments in the second quarter of 2017 amounted to 2,884 MW.

Solar Products Production Capacity

As of June 30, 2017, the Company's in-house annual silicon wafer, solar cell and solar module production capacity was 6.0 GW, 4.5 GW and 7.5 GW, respectively.

Recent Business Developments

  • In August 2017, JinkoSolar supplied 35.46 MW to Gransolar for PV project in Mexico.
  • In July 2017, JinkoSolar announced that it has become the first PV module provider to guarantee that all JinkoSolar Standard Mass Produced PV Modules meet IEC62804 double anti-PID standards.
  • In July 2017, JinkoSolar supplied 30 MW ac of PV modules for 2 solar projects in Virginia to Hecate Energy, a leading developer, owner, and operator of power plants in North America and abroad.
  • In July 2017, JinkoSolar announced that it is partnering with TUVRheinland, an independent provider of technical services for testing, inspection, certification, consultation and training, to develop standardized testing methods for bifacial PV technology.
  • In June 2017, JinkoSolar signed a JPY4.1 billion syndicated loan agreement up to two years with a bank consortium led by Sumitomo Mitsui Banking Corporation.
  • In June 2017, JinkoSolar entered into an agreement with Quantum Power GK in Japan to exclusively supply 187MW worth of 275Wp modules for three projects located in Ibaraki, Gunma and Mie prefecture.
  • In May 2017, JinkoSolar supplied 65 MW of high efficiency Eagle Series modules for Energon Solar in Medak, Telangana, India.
  • In May 2017, Abu Dhabi Water and Electricity Authority, Sweihan Solar Holding Company Limited ("Sweihan"), a joint venture between JinkoSolar and Marubeni Corporation and a syndicate of international and local banks entered into financial agreements for the Sweihan Photovoltaic Independent Power Project in Abu Dhabi.
  • In May 2017, JinkoSolar became first Chinese PV manufacturer that passed 160 KWh/m2 UV test in terms of IEC61345 from TUV Rheinland.

Operations and Business Outlook

Strategic Shift in Overseas Downstream Solar Project Business

With the Company's focuses shifting towards its core competencies in manufacturing, JinkoSolar will cease developing new overseas downstream solar projects starting in the third quarter of 2017. The Company will continue to develop, construct and connect to the grid its existing overseas downstream solar projects.

The Company provided a debt payment guarantee in connection with a loan facility granted to Sweihan PV Power Company P.J.S.C, equity investee of the Company for developing overseas solar power project, in a maximum aggregate principal amount not exceeding US$50 million.

Third Quarter and Full Year 2017 Guidance

For the third quarter of 2017, the Company estimates total solar module shipments to be in the range of 2.1 GW to 2.3 GW.

For the full year 2017, the Company estimates total solar module shipments to be in the range of 8.5 GW and 9.0 GW.

Conference Call Information

JinkoSolar's management will host an earnings conference call on Thursday, September 6, 2017 at 7:30 a.m. U.S. Eastern Time (7:30 p.m.Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

Hong Kong / International:

+852 3008 1527


U.S. Toll Free:

+1 866-564-2842


Passcode:

9936267





Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, September 13, 2017. The dial-in details for the replay are as follows:

International:

+61 (0) 2 9101 1954


U.S. Toll Free:

+1-888-203-1112


Passcode:

9936267





Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at www.jinkosolar.com.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities in China (5), Malaysia, Portugal and South Africa, 15 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa, and 18 global sales offices in China (2) ,United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.

To find out more, please see: www.jinkosolar.com

Use of Non-GAAP Financial Measures

To supplement its consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), JinkoSolar uses certain non-GAAP financial measures including, non-GAAP net income , non-GAAP earnings per Share, non-GAAP earnings per ADS, and non-GAAP diluted weighted average ordinary shares outstanding, which are adjusted from the comparable GAAP results to exclude certain expenses or incremental ordinary shares relating to share-based compensation, convertible senior notes and capped call options:

  • Non-GAAP net income is adjusted to exclude the expenses relating to changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes, exchange gain on the convertible senior notes and capped call options, stock-based compensation, allocation of net income to redeemable non-controlling interests, and accretion to redemption value of redeemable non-controlling interests; given these Non-GAAP net income adjustments above are either related to the Company or its subsidiaries incorporated in Cayman Islands, which are not subject to tax exposures, or related to those subsidiaries with tax loss positions which result in no tax impacts, therefore no tax adjustment is needed in conjunction with these Non-GAAP net income adjustments; and
  • Non-GAAP earnings per Share and non-GAAP earnings per ADS are adjusted to exclude the expenses relating to the issuance costs of convertible senior notes, changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes and exchange gain on the convertible senior notes and capped call options, stock-based compensation, and accretion to redemption value of redeemable non-controlling interests.

The Company believes that the use of non-GAAP information is useful for analysts and investors to evaluate JinkoSolar's current and future performances based on a more meaningful comparison of net income and diluted net income per ADS when compared with its peers and historical results from prior periods. These measures are not intended to represent or substitute numbers as measured under GAAP. The submission of non-GAAP numbers is voluntary and should be reviewed together with GAAP results.

Currency Convenience Translation

The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the readers, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2017, which was RMB6.7793 to US$1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate or any other rate. The percentages stated in this press release are calculated based on Renminbi.

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JINKOSOLAR HOLDING CO., LTD. 



UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except ADS and Share data)



For the quarter ended


For the six months ended     




June 30, 2016


March 31, 2017


June 30, 2017


June 30, 2016


June 30, 2017



 Continuing operations 

RMB


RMB


RMB


USD


RMB


RMB


USD



 Revenues from third parties 

5,630,411


5,753,080


7,908,533


1,166,571


10,844,943


13,661,612


2,015,195



















 Revenues from related parties 

36,349


23,724


15,555


2,294


102,960


39,279


5,794



















 Total revenues 

5,666,760


5,776,804


7,924,088


1,168,865


10,947,903


13,700,891


2,020,989



















 Cost of revenues 

(4,638,350)


(5,127,779)


(7,089,255)


(1,045,721)


(8,834,615)


(12,217,034)


(1,802,108)



















 Gross profit 

1,028,410


649,025


834,833


123,144


2,113,288


1,483,857


218,881



















 Operating expenses: 
















   Selling and marketing 

(373,336)


(413,812)


(550,823)


(81,251)


(711,707)


(964,635)


(142,291)



   General and administrative 

(203,360)


(115,950)


(125,029)


(18,443)


(382,342)


(240,979)


(35,546)



   Research and development 

(43,617)


(62,486)


(73,694)


(10,870)


(82,012)


(136,180)


(20,088)



   Impairment of long-lived assets 

(99,328)


-


-


-


(99,328)


-


-



 Total operating expenses 

(719,641)


(592,248)


(749,546)


(110,564)


(1,275,389)


(1,341,794)


(197,925)



















 Income from operations 

308,769


56,777


85,287


12,580


837,899


142,063


20,956



 Interest expenses, net 

(75,008)


(57,121)


(80,572)


(11,885)


(151,899)


(137,693)


(20,311)



 Change in fair value of derivative liability 

(2)


376


(16,394)


(2,418)


(1,109)


(16,018)


(2,363)



 Subsidy income 

39,423


55,192


49,038


7,233


74,615


104,229


15,375



 Exchange gain/(loss) 

140,943


(6,339)


(29,810)


(4,397)


188,535


(36,149)


(5,332)



 Change in fair value of forward contracts 

(24,741)


1,105


(4,341)


(640)


(42,828)


(3,235)


(477)



 Change in fair value of convertible senior
   notes and capped call options 

(49,076)


-


-


-


(79,847)


-


-



 Other income/(expense), net 

1,108


11,943


11,773


1,737


(377)


23,716


3,498



 Investment loss 

(1,158)


-


(194)


(29)


(1,640)


(194)


(29)



 Income from continuing operations before income taxes

340,258


61,933


14,787


2,181


823,349


76,719


11,317



 Income tax (expense)/benefit 

(90,410)


(1,528)


32,460


4,788


(190,714)


30,933


4,563



Income from continuing operations, net of tax

249,848


60,405


47,247


6,969


632,635


107,652


15,880



 Discontinued operations 
















Income from discontinued operations before income taxes   

83,867


-


-


-


62,456


-


-



Income tax expense, net

(479)


-


-


-


(615)


-


-



Income from discontinued operations, net of tax

83,388


-


-


-


61,841


-


-



















 Net income 

333,236


60,405


47,247


6,969


694,476


107,652


15,880



 Less: Net loss attributable to non-controlling
          interests from continuing operations 

(178)


(169)


(121)


(18)


(88)


(290)


(43)



 Less: Net income attributable to non-controlling
          interests from discontinued operations 

2,128


-


-


-


3,723


-


-



 Less: Allocation of net income to participating 
          preferred shares issued
          by discontinued operations 

3,648


-


-


-


3,648


-


-



 Less: Accretion to redemption value of redeemable 
          non-controlling
          interests of discontinued operations 

47,555


-


-


-


93,780


-


-



 Net income attributable to JinkoSolar
 Holding Co., Ltd.'s ordinary shareholders 

280,083


60,574


47,368


6,987


593,413


107,942


15,923



































































 Earnings/(loss) per share for ordinary shareholders,
basic 
















 Continuing operations 

1.99


0.48


0.37


0.05


5.04


0.84


0.16



 Discontinued operations 

0.24


-


-


-


(0.31)


-


-



 Total earnings/(loss) per share for ordinary
shareholders, basic 

2.23


0.48


0.37


0.05


4.73


0.84


0.16



































 Earnings/(loss) per share for ordinary shareholders,
diluted 
















 Continuing operations 

1.90


0.47


0.37


0.05


4.73


0.84


0.16



 Discontinued operations 

0.23


-


-


-


(0.31)


-


-



 Total earnings/(loss) per share for ordinary
shareholders, diluted 

2.13


0.47


0.37


0.05


4.42


0.84


0.16



















 Earnings/(loss) per ADS for ordinary shareholders,
basic 
















 Continuing operations 

7.96


1.92


1.48


0.20


20.16


3.36


0.64



 Discontinued operations 

0.96


-


-


-


(1.24)


-


-



 Total earnings/(loss) per ADS for ordinary
shareholders, basic 

8.92


1.92

#

1.48


0.20


18.92


3.36


0.64



















 Earnings/(loss) per ADS for ordinary shareholders,
diluted 
















 Continuing operations 

7.60


1.88


1.48


0.20


18.92


3.36


0.64



 Discontinued operations 

0.92


-


-


-


(1.24)


-


-



 Total earnings/(loss) per ADS for ordinary
shareholders, diluted 

8.52


1.88


1.48


0.20


17.68


3.36


0.64



















 Weighted average ordinary shares outstanding: 
















   Basic 

125,501,184


126,820,607


128,247,292


128,247,292


125,489,224


127,556,967


127,556,967



   Diluted 

132,545,247


128,179,515


129,493,716


129,493,716


135,035,911


128,859,633


128,859,633



















 Weighted average ADS outstanding: 
















   Basic 

31,375,296


31,705,152


32,061,823


32,061,823


31,372,306


31,889,242


31,889,242



   Diluted 

33,136,312


32,044,879


32,373,429


32,373,429


33,758,978


32,214,908


32,214,908



















UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

























 Net income 

333,236


60,405


47,247


6,969


694,476


107,652


15,880



 Other comprehensive income: 
















   -Foreign currency translation adjustments 

(10,887)


(17,563)


(22,391)


(3,303)


(12,466)


(39,954)


(5,894)



 Comprehensive income 

322,349


42,842


24,856


3,666


682,010


67,698


9,986



 Less: Comprehensive income attributable to non-
controlling interests 

1,950


(169)


(121)


(18)


3,635


(290)


(43)



 Comprehensive income attributable to JinkoSolar
Holding Co., Ltd.'s ordinary shareholders 

320,399


43,011


24,977


3,684


678,375


67,988


10,029



















































 Reconciliation of GAAP and non-GAAP Results(Excluding discontinued
operations) 































 1. Non-GAAP earnings per share and non-GAAP
earnings per ADS 
































 GAAP net income attributable to ordinary
shareholders from continuing operations 

250,026


60,574


47,368


6,987


632,723


107,942


15,923



















 Change in fair value of convertible senior notes and
capped call options 

49,076


-


-


-


79,847


-


-



















 4% of interest expense of convertible senior notes 

10,463


1,555


1


-


23,992


1,556


230



















 Exchange loss/(gain) on  convertible senior notes
and capped call options 

21,224


844


(1)


-


18,219


843


124



















 Stock-based compensation expense 

13,353


17,402


13,822


2,039


26,023


31,224


4,606



















 Non-GAAP net income attributable to ordinary
shareholders from continuing operations 

344,141


80,375


61,190


9,026


780,804


141,565


20,883



















 Non-GAAP earnings per share attributable to
ordinary shareholders from continuing operations - 
















   Basic 

2.74


0.63


0.48


0.07


3.37


1.11


0.16



   Diluted 

2.60


0.62


0.47


0.07


3.18


1.10


0.16



















 Non-GAAP earnings per ADS attributable to ordinary
shareholders from continuing operations - 
















   Basic 

10.96


2.52


1.92


0.28


13.48


4.44


0.64



   Diluted 

10.40


2.48


1.88


0.28


12.72


4.40


0.64



















 Non-GAAP weighted average ordinary shares
outstanding  
















   Basic 

125,501,184


126,820,607


128,247,292


128,247,292


125,489,224


127,556,967


127,556,967



   Diluted 

132,545,247


128,179,515


129,493,716


129,493,716


135,035,911


128,859,633


128,859,633



















 Non-GAAP weighted average ADS outstanding  
















   Basic 

31,375,296


31,705,152


32,061,823


32,061,823


31,372,306


31,889,242


31,889,242



   Diluted 

33,136,312


32,044,879


32,373,429


32,373,429


33,758,978


32,214,908


32,214,908



















Results presented herein exclude Jinko Power-related discontinued operations, unless specified otherwise
































JINKOSOLAR HOLDING CO., LTD. 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)



December 31, 2016


June 30, 2017


RMB


RMB


USD

ASSETS






Current assets:






  Cash and cash equivalents

2,501,417


1,531,000


225,835

  Restricted cash 

318,785


368,125


54,301

  Restricted short-term investments

3,333,450


3,168,027


467,309

  Short-term investments

71,301


93,282


13,760

  Accounts receivable, net - related parties

1,414,084


786,644


116,036

  Accounts receivable, net - third parties

4,753,715


6,470,520


954,453

  Notes receivable, net - related parties

610,200


600,000


88,505

  Notes receivable, net - third parties

915,315


310,284


45,769

  Advances to suppliers, net - related parties

662


-


-

  Advances to suppliers, net - third parties

325,766


431,100


63,591

  Inventories, net

4,473,515


5,204,392


767,689

  Forward contract receivables

641


-


-

  Deferred tax assets 

130,676


-


-

  Other receivables - related parties

79,125


122,484


18,067

  Prepayments and other current assets

766,645


1,377,668


203,216

Total current assets

19,695,297


20,463,526


3,018,531







Non-current assets:






  Restricted cash

197,214


157,466


23,227

  Project Assets

55,063


140,256


20,689

  Long-term investments

7,200


8,886


1,311

  Property, plant and equipment, net

4,738,681


5,885,094


868,098

  Land use rights, net

450,941


449,034


66,236

  Intangible assets, net

20,297


23,411


3,453

  Deferred tax assets 

134,791


265,467


39,158

  Other assets - related parties

173,376


336,906


49,696

  Other assets - third parties

617,780


341,816


50,422

Total non-current assets

6,395,343


7,608,336


1,122,290







Total assets

26,090,640


28,071,862


4,140,821







LIABILITIES






Current liabilities:






  Accounts payable - related parties

-


689


102

  Accounts payable - third parties

4,290,071


5,986,366


883,036

  Notes payable - third parties

4,796,766


4,199,871


619,514

  Accrued payroll and welfare expenses

582,276


596,698


88,018

  Advances from related parties

60,541


76,089


11,224

  Advances from  third parties

1,376,920


988,464


145,806

  Income tax payable

168,112


63,129


9,312

  Other payables and accruals

1,019,419


1,451,915


214,169

  Other payables due to related parties

76,034


12,935


1,908

  Forward contract payables

-


3,116


460

  Convertible senior notes - current

423,740


-


-

  Deferred tax liabilities 

17,074


-


-

  Derivative liability -  current

10,364


26,382


3,892

  Short-term borrowings from third parties,
     including current portion of long-term bank
     borrowings

5,488,629


6,633,893


978,551

  Guarantee liabilities to related parties

52,711


37,594


5,545

Total current liabilities

18,362,657


20,077,141


2,961,537







Non-current liabilities:






  Long-term borrowings

488,520


467,518


68,963

  Long-term payables

44,014


125,693


18,541

  Accrued warranty costs - non current

511,209


562,863


83,027

  Convertible senior notes

-


68


10

  Deferred tax liability

50,651


67,725


9,990

  Guarantee liabilities to related parties 
   - non current

173,376


147,926


21,820

Total non-current liabilities

1,267,770


1,371,793


202,350







Total liabilities

19,630,427


21,448,934


3,163,887







SHAREHOLDERS' EQUITY






Ordinary shares (US$0.00002 par value,
500,000,000 shares authorized, 126,733,266
and  130,186,074 shares issued and
outstanding as of  December 31, 2016 and
June 30, 2017, respectively)

18


18


3

Additional paid-in capital

3,145,262


3,240,279


477,967

Statutory reserves

466,253


466,253


68,776

Accumulated other comprehensive income

104,784


64,830


9,563

Treasury stock, at cost; 1,723,200 shares of
ordinary shares as of  December 31, 2016
and June 30, 2017, respectively

(13,876)


(13,876)


(2,047)

Accumulated retained earnings

2,758,268


2,866,210


422,788







Total JinkoSolar Holding Co., Ltd.

shareholders' equity

6,460,709


6,623,714


977,050







Non-controlling interests

(496)


(786)


(116)







Total liabilities and shareholders' equity

26,090,640


28,071,862


4,140,821

View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-second-quarter-2017-financial-results-300514462.html

SOURCE JinkoSolar Holding Co., Ltd.

XIAMEN, China, Sept. 3, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, was invited to attend the 9th BRICS Summit hosted in Xiamen, China from September 3rd to 5th. The theme of the summit is "BRICS: Stronger Partnership for a Brighter Future". At the summit, JinkoSolar will provide insight on how the BRICS nations can fulfill their Paris Climate Agreement commitments through further cooperation in trade and in renewable energy development.

Paris agreement is deemed the "world's greatest diplomatic success," as it is the first comprehensive agreement that "brings all nations into a common cause to undertake ambitious efforts to combat climate change." The success of the agreement rests on a strong consensus on the cause of global warming and a unified commitment to curb this devastating crisis. The record low bid of 2.42 cent per kWh by JinkoSolar for the milestone 1117MW Abu Dhabi solar project demonstrated that solar can undercut coal as cheapest energy source and is the most economically viable and scalable energy alternative to coal. Solar's unique advantages of dispersed distribution and decentralized deployment will accelerate its adoption in more and more regions. Solar is the only feasible way to help all countries realize energy transformation and energy independence.

"Solar is not a conventional commodity, instead, it is a cross-boundary solution to addressing climate change and the antidote to save our earth. The setbacks to solar amidst growing anti-globalization will hurt our humanity in the long run. Given its social development nature, solar products should be treated with exception and free from nationalistic trade barriers. The acceleration and cheapening of efforts to replace coal-fired power plant will only be to the benefit of all 7 billion souls currently living on our mother earth. Humanity's sustainability and survival should be the world's upmost objective. Competing economic interests and man-made trade barriers will only discourage the world from coming together to tackle climate change, the most critical issues facing our planet today and the generations to come. Solar should be opt out of the endless trade war because the failure to develop solar threatens the future of all people, no matter of nationality," said Dany Qian, Vice President of JinkoSolar.

Regarding the role New Development Bank in BRICS renewable energy development, Dany Qian commented that, "New Development Bank (NDB) was set up to fund infrastructure projects in BRICS countries and promote sustainable development. With the dramatic drop in cost, solar projects' positive economic benefit and investment yields has been widely witnessed. We expect that in addition to direct investments in solar and other renewable energy projects, NDB can act as catalysts for attracting private funds into the sector through blended finance mechanisms that bridge the investment gap. Moreover, we hope that NDB will be a pioneer in launching and advancing green loans to finance clean energy projects, and initiate more innovative green financing tools."

Given its world' leading status, JinkoSolar has taken the lead in transitioning the BRICS nations towards a future-oriented and sustainable economy by driving down the cost of solar power, making the switch to renewable energy more economically viable, and increasing the feasibility of implementing the Paris Climate Agreement. JinkoSolar's insights at the conference will also help power the sustainable development of the BRICS nations.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-invited-to-attend-the-9th-brics-summit-300513398.html

SOURCE JinkoSolar

For investor and media inquiries, please contact: In China: Mr. Sebastian Liu, JinkoSolar Holding Co., Ltd., Tel: +86 21-5183-3056, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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ET | Source: BluEarth Renewables Inc.

CALGARY, Alberta, Sept. 18, 2017 (GLOBE NEWSWIRE) -- BluEarth Renewables LP (BluEarth) is pleased to announce it has completed the acquisition of four operating renewable energy facilities from Veresen Inc., including three run-of-river hydro facilities in British Columbia and one wind facility in Ontario. These facilities have a weighted average contract life of 22 years and represent 85 megawatts (MW). Financial terms of the acquisition are confidential.

“In addition to pursuing greenfield opportunities, BluEarth’s growth strategy includes pursuing targeted acquisitions where we can take full advantage of our existing footprint and operational bench strength,” said Grant Arnold, BluEarth’s President & Chief Executive Officer. “With this acquisition, we now have a portfolio of over $1.7 billion of renewable energy facilities in operation and construction.”

Mr. Arnold added, “In just seven short years, we have built one of the strongest portfolios of long-term contracted renewable energy assets, a strong balance sheet supported by our strategic owner, Ontario Teachers’ Pension Plan Board, and one of the most experienced, passionate and dedicated teams in our industry. Beyond our operated facilities and those under construction, we also have a robust development portfolio across Canada. We are proud to show how business can be sustainable and profitable, leaving the world a better place.” 

Blake, Cassels & Graydon LLP acted as legal counsel and RBC Capital Markets acted as financial advisor to BluEarth for the acquisition.

About BluEarth Renewables

Headquartered in Calgary, BluEarth is a private, independent renewable power producer, focused on the acquisition, development, construction, and operation of wind, water, and solar projects. BluEarth’s majority shareholder is the Ontario Teachers’ Pension Plan Board.  BluEarth's mission is to be a Canadian based renewable energy leader by developing, building, and operating a portfolio that optimizes people, planet, and profit. BluEarth believes it has The Power to Change the FutureTM by demonstrating how to be sustainable and profitable, leaving the world a better place. For more information, visit www.bluearth.ca or follow us on twitter @BERenewables.

For more information, contact:

Dorreen Miller                   
Director, Communications                      
BluEarth Renewables
(587) 324-4238                          
This email address is being protected from spambots. You need JavaScript enabled to view it.

Calgary, Alberta, CANADA

  http://www.bluearthrenewables.com/

BluEarth Renewables Inc. Logo

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ET | Source: RGS Energy

DENVER, Aug. 24, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, and Sonnen, Inc., a global leader in smart energy storage systems, are immediately offering U.S. manufactured battery storage options to its mainland residential solar customers.

“We believe battery storage provides great value for our residential solar customers,” said Chris Gorski, RGS Energy’s director of Special Projects. “We chose Sonnen because of the safety, stability and long lifecycle of their lithium-iron phosphate batteries, and the fact that they have more than 20,000 sonnenBatterie systems installed worldwide. Battery storage is at the forefront of the solar industry as customers are seeking solutions to minimize the impact of power outages and the high cost of time-of-use power rates charged by an increasing number of utilities.”  

A sonnenBatterie system provides a variety of services to solar homeowners, including back-up power during utility outages and a reduction in expensive peak energy draws from the power grid. In 2016 alone, there were over 3,800 power outages in the U.S. The addition of a battery storage system allows solar systems to continue to function independently of the power grid, enabling solar homes to provide their own power day and night during an outage to keep key home appliances running, such as lights, refrigeration, security systems and sump pumps.

“Energy storage is still in the early stages of adoption in the U.S., but smart systems, like the sonnenBatterie, are the key to creating a foundation for clean and reliable energy for all,” said Blake Richetta, SVP of sonnen. “RGS is an ideal partner for sonnen as we both value high quality standards, have a history of proven performance and view our capability to innovate as the best options for customers.”

RGS Energy is a Sonnen certified installer and expects to begin deploying sonnenBatterie systems this fall.

About Sonnen

Sonnen believes clean, affordable, and reliable energy for all is one of the greatest challenges of our time. With over 20,000 sonnenBatterie systems installed worldwide, sonnen is a proven global leader in intelligent energy management solutions that provide greater energy control for residential customers through increased solar self-consumption, reduced peak energy usage and reliable backup power during outages – contributing to a cleaner and more reliable energy future. sonnen has won several awards for its energy innovations and sonnenBatterie products, including the 2017 Zayed Future Energy Prize, Fast Company’s Most Innovative Companies for 2017, MIT’s Technology Review’s 50 Smartest Companies in 2016, Global Cleantech 100 for 2015-2017, Greentech Media’s 2016 Grid Edge Award for innovation, and Cleantech’s 2015 Company of the Year Award in both Israel and Europe. For more information, visit www.sonnen-batterie.com/en-us/start

About RGS Energy 

RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: demand for battery storage solutions, the realized value to customers of use of battery storage solutions, and customers’ ability to reduce peak energy usage as a result of the use of a battery storage solution.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy’s Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

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ET | Source: BioLargo, Inc.

Westminster, CA , Aug. 22, 2017 (GLOBE NEWSWIRE) -- BioLargo, Inc., (OTCQB: BLGO; www.biolargo.com), a sustainable science and technology company that delivers practical solutions for clean water, clean air and advanced wound care, announced in a blog post yesterday highlights from its 3rd annual technical symposium held at the Snow Valley Conference Center in Edmonton Alberta. The blog post, found here, included highlights regarding the successful tests conducted by a leading water engineering firm of BioLargo’s AOS system on industry-provided water, potential scalable designs of the AOS system to handle increased water flow in commercial settings, and a solar powered “AOS Mini” demonstrating the low power and flexibility of the AOS system in a design that could potentially provide clean water to extremely water-scarce or disaster-prone areas.

The company promises further updates and developments of its AOS and technical achievements in future blog posts.

About BioLargo, Inc.

BioLargo, Inc. is a sustainable science and technology company that makes life better by delivering award-winning products for clean water, clean air and advanced wound care. More information can be found about the company and its subsidiaries at www.BioLargo.com. Its subsidiary BioLargo Water, Inc. (www.BioLargoWater.com) showcases its emerging technology, the Advanced Oxidation System “AOS”, an award-winning product, having been awarded more than 35 research grants and counting, specifically designed to eliminate common, troublesome, and dangerous (toxic) contaminants in water in a fraction of the time and cost of current technologies. BioLargo's subsidiary Odor-No-More Inc., features sustainable odor elimination products including its CupriDyne Clean (www.CupriDyne.com) Industrial Odor Eliminator, a product currently serving the leading solid waste handling and wastewater treatment companies as well as any industry that must contend with malodors, VOC’s or similar air quality related problems. Its personal care products are finding adoption through white labeling or early market entry in the pet, equine, military supply and consumer markets, and include the Nature's Best Solution® and Deodorall® brands (www.OdorNoMore.com). BioLargo's subsidiary Clyra Medical Technologies, Inc. (www.ClyraMedical.com) focuses on advanced wound care management featuring effective and gentle solutions for chronic infected wounds and other uses to promote infection control. BioLargo also owns a 50% interest in the Isan System, a fully automated iodine dosing system being commercialized under a license to Clarion Water, Inc.

Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the risks and uncertainties included in BioLargo's current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo's Annual Report on Form 10-K.

Source: Uptick Newswire

Contact:
Company Contact
Dennis Calvert
President and CEO
BioLargo, Inc.
949-643-9540 x2

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, Aug. 22, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced its unaudited financial results for its second quarter ended June 30, 2017.

Second Quarter 2017 Highlights

  • Total shipments were 2,389.2 megawatts (“MW”), consisting of 2,147.5 MW of modules and 167.2 MW of cells to external customers, and 74.5 MW of modules to the Company’s downstream projects.  External shipments were up 88.3% y/y and 68.3% sequentially
     
  • Shipments of modules were 2,147.5 MW, an increase of 89.3% y/y and 62.1% sequentially
     
  • Shipments of cells were 167.2 MW, an increase of 75.8% y/y and 233.1% sequentially
     
  • Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially
     
  • Gross margin was 12.9%, a decrease of 240 basis points y/y and an increase of 120 basis points sequentially
     
  • Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the second quarter of 2016, and RMB 80.0 million ($11.8 million) in the first quarter of 2017
     
  • Net income was RMB 134.6 million ($19.9 million), compared to RMB 164.1 million ($24.2 million) in the second quarter of 2016, and RMB 8.1 million ($1.2 million) in the first quarter of 2017
     
  • Earnings per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.87 or $0.42 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017
     
  • Cash and cash equivalents were RMB 3.2 billion ($477.0 million), an increase of RMB 947.6 million ($139.8 million) during the quarter
     
  • Non-GAAP earnings1 per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.04 or $0.30 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, "Second quarter results exceeded our expectations.  Robust shipments in China, primarily attributable to accelerated activity ahead of subsidy reductions, drove our year-over-year double-digit revenue growth in the quarter.  Additionally, better-than-expected average selling price and lower blended costs resulted in 120 basis-point sequential improvement in gross margin."

Mr. Jin continued, "We remain cautious on our business outlook as we enter the second half of 2017, given the slowdown in demand in our domestic market, coupled with the uncertainty around the Section 201 trade case in the U.S.  While anticipated changes in incentives is expected to slow the Chinese market in the second half of the year, we continue to believe our balanced global footprint and flexible business model will enable us to adjust to evolving market conditions.  Our team remains focused on prudently managing our working capital, strengthening our balance sheet and executing our business strategy to provide our customers with high-quality products.”

All shipment and financial figures refer to the quarter ended June 30, 2017, unless otherwise specified.  All “year over year” or “y/y” comparisons are against the quarter ended June 30, 2016.  All “sequential” comparisons are against the quarter ended March 31, 2017.

Total shipments were 2,389.2 MW, well above the guidance of 1,550 to 1,650 MW. This is mainly due to stronger than expected pull-in orders from the China market. External shipments of 2,314.7 MW increased 88.3% year over year and 68.3% sequentially.

External shipments breakdown by product (MW)

  2016Q2 2017Q1 2017Q2 QoQ% YoY%
Modules and module tolling 1,134.2 1,325.1 2,147.5 62.1 % 89.3 %
Cells and cell tolling 95.1 50.2 167.2 233.1 % 75.8 %
Total 1,229.3 1,375.3 2,314.7 68.3 % 88.3 %

External shipments breakdown by region (percentage)

  2016Q2 2017Q1 2017Q2 QoQ(pp) YoY(pp)
China 63.9 % 39.7 % 59.2 % 19.50 -4.70
APAC ex-China 12.0 % 44.2 % 24.9 % -19.30 12.90
Europe 3.7 % 5.5 % 5.1 % -0.40 1.40
North America 9.3 % 8.1 % 8.1 % 0 -1.20
South America 9.9 % 0.1 % 0.4 % 0.30 -9.50
Others 1.2 % 2.4 % 2.3 % -0.10 1.10

Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially.

Gross profit of RMB 770.8 million ($113.7 million) increased 22.7% y/y and 77.9% sequentially.  Gross margin was 12.9%, which compares to 15.3% in the year-ago quarter, and 11.7% in the first quarter of 2017.

Total operating expenses of RMB 515.7 million ($76.1 million) were 8.7% of revenue.  This compares to operating expenses of 10.7% of revenue in the year-ago quarter, and 9.6% of revenue in the first quarter of 2017.

Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the year-ago quarter, and RMB 80.0 million ($11.8 million) in the first quarter of 2017.  Operating margin was 4.3%, compared with 4.6% in the prior year period and 2.2% in the previous quarter.

Interest expense was RMB 82.6 million ($12.2 million), compared to RMB 68.8 million ($10.1 million) in the year-ago quarter, and RMB 83.3 million ($12.3 million) in the first quarter of 2017. 

The change in fair value of warrant derivatives was nil, compared with positive RMB 47.4 million ($7.0 million) in the year-ago quarter, and nil in the first quarter of 2017. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016.
Earnings per diluted ADS were RMB 2.87 or $0.42, compared to earnings per diluted ADS of RMB 2.87 or $0.42 in the year-ago quarter, and earnings per diluted ADS of RMB 0.17 or $0.03 in the first quarter of 2017.

Liquidity
As of June 30, 2017, the Company had cash and cash equivalents of RMB 3.2 billion ($477.0 million), and total working capital of RMB 857.2 million ($126.5 million).  Total short-term borrowings were RMB 3.3 billion ($491.7 million). Total long-term borrowings were RMB 2.8 billion ($419.4 million), of which RMB 792.1 million ($116.8 million) were due in one year.

Business Outlook
For the third quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,600 to 1,700 MW.  Nearly all will be external shipments.

For the full year 2017, the Company is raising its shipment outlook.  Total cell and module shipments are now expected to range between 6.5 and 7.0 GW, up from 6.0-6.5 GW in the prior guidance.  This includes 100-150 MW of module shipments to the Company's downstream projects, down from 200-250 MW in the previous guidance.  Revenues will not be recognized for the modules shipped to the Company's downstream projects as required by US GAAP.

Update on Yangzhou Facility Fire and Production Capacity
The Company provided an update regarding the July 13 fire at the Company’s cell production facility in Yangzhou, Jiangsu province. There were no injuries in the incident. The Company maintains insurance coverage for its production equipment and is in the process of filing insurance claims related to the incident. The cause of the fire remains under investigation.

The Company estimates a loss in cell production capacity of 500 MW per annum as a result of the accident. Therefore, the Company expects its year-end cell capacity to be 6.5 GW, instead of the previous guidance of 7.0 GW. The Company now expects year-end module capacity to be 7.0 GW, instead of the previous guidance of 6.0 GW. Year-end wafer capacity guidance remains unchanged at 3.0 GW. The Company expects to restore the lost cell capacity by the first quarter of 2018.

All information regarding the impact of the fire is subject to change based on further evaluation and investigation.

Investor Conference Call / Webcast Details
JA Solar's management will host an earnings conference call on August 22, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

  Phone Number Toll-Free Number
United States +1 8456750437 +1 8665194004
Hong Kong +852 30186771 +852 800906601
Mainland China +86 8008190121
+86 4006208038
 
Other International +65 67135090  

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 66045523.

A replay of the conference call may be accessed by phone at the following numbers until August 30, 2017.  To access the replay, please reference the conference ID 66045523.

  Phone Number Toll-Free Number
United States +1 6462543697 +1 8554525696
Hong Kong +852 30512780 +852 800963117
Mainland China +86 8008700206
+86 4006322162
 
Other International +61 281990299  

Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2017, which was RMB 6.7793 to $1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on June 30, 2017, or at any other date. The percentages stated in this press release are calculated based on Renminbi.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world’s largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.

For more information, please visit www.jasolar.com.

1 JA Solar adjusts net income attributable to the Company's ordinary shareholders to exclude changes in fair value of certain warrants granted to certain investors in a registered direct offering (the "Offering") closed on August 16, 2013.

JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations and Comprehensive Income  
(Unaudited)  
  For three months ended  
  Jun. 30, 2016 Mar. 31, 2017 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 RMB'000 USD'000  
           
Net revenues 4,113,592   3,692,405   5,953,211   878,145    
Cost of sales (3,485,300 ) (3,259,070 ) (5,182,372 ) (764,441 )  
Gross profit 628,292   433,335   770,839   113,704    
Selling, general and administrative expenses (396,294 ) (312,858 ) (480,065 ) (70,813 )  
Research and development expenses (44,043 ) (40,460 ) (35,667 ) (5,261 )  
Total operating expenses (440,337 ) (353,318 ) (515,732 ) (76,074 )  
Income from operations 187,955   80,017   255,107   37,630    
Interest expense (68,804 ) (83,274 ) (82,617 ) (12,187 )  
Change in fair value of warrant derivatives 47,417     -      -      -     
Other income, net 30,878   22,516   13,654   2,014    
Income before income taxes 197,446   19,259   186,144   27,457    
Income tax expense (33,357 ) (11,136 ) (51,536 ) (7,602 )  
Net income 164,089   8,123   134,608   19,855    
Less: income attributable to noncontrolling interest 388     -      -      -     
Net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
           
Net income per share attributable to ordinary shareholders:          
  Basic 0.57   0.03   0.57   0.08    
  Diluted 0.57   0.03   0.57   0.08    
           
Weighted average number of shares outstanding:          
  Basic  234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
Comprehensive income          
Net income 164,089   8,123   134,608   19,855    
  Foreign currency translation adjustments, net of tax (22,068 ) 1,082   (786 ) (116 )  
Other comprehensive loss (22,068 ) 1,082   (786 ) (116 )  
Comprehensive income 142,021   9,205   133,822   19,739    
Income attributable to noncontrolling interest 388     -      -      -     
Comprehensive income attributable to JA Solar Holdings 141,633   9,205   133,822   19,739    
           
NON-GAAP RECONCILIATION          
           
GAAP net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
Change in fair value of warrant derivatives (47,417 )   -      -      -     
Non-GAAP net income attributable to JA Solar Holdings 116,284   8,123   134,608   19,855    
           
Non-GAAP net income per share attributable to ordinary shareholders:          
  Basic 0.41   0.03   0.57   0.08    
  Diluted 0.41   0.03   0.57   0.08    
           
Non-GAAP weighted average number of shares outstanding:          
  Basic 234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations  
(Unaudited)  
  For six months ended  
  Jun. 30, 2016 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 USD'000  
         
Net revenues 7,583,306   9,645,616   1,422,804    
Cost of sales (6,379,652 ) (8,441,442 ) (1,245,179 )  
Gross profit 1,203,654   1,204,174   177,625    
Selling, general and administrative expenses (708,769 ) (792,923 ) (116,962 )  
Research and development expenses (83,642 ) (76,127 ) (11,229 )  
Total operating expenses (792,411 ) (869,050 ) (128,191 )  
Income from operations 411,243   335,124   49,434    
Interest expense (136,077 ) (165,891 ) (24,470 )  
Change in fair value of warrant derivatives 70,864     -      -     
Other income, net 47,159   36,170   5,335    
Income before income taxes 393,189   205,403   30,299    
Income tax expenses (71,126 ) (62,672 ) (9,245 )  
Net income 322,063   142,731   21,054    
Less: income/(loss) attributable to noncontrolling interest 1,705     -      -     
Net income attributable to JA Solar Holdings 320,358   142,731   21,054    
         
Net income per share attributable to ordinary shareholders:        
  Basic 1.12   0.61   0.09    
  Diluted 1.12   0.61   0.09    
         
Weighted average number of shares outstanding:        
  Basic   234,290,842     234,301,342     234,301,342    
  Diluted   234,482,552     234,317,372     234,317,372    
         
Comprehensive income        
Net income 322,063   142,731   21,054    
  Foreign currency translation adjustments, net of tax (22,208 ) 296   43    
Other comprehensive loss (22,208 ) 296   43    
Comprehensive income 299,855   143,027   21,097    
Income/(loss) attributable to noncontrolling interest 1,705     -      -     
Comprehensive income attributable to JA Solar Holdings 298,150   143,027   21,097    
         
NON-GAAP RECONCILIATION        
         
GAAP net income attributable to JA Solar Holdings 320,358   142,731   21,054    
Change in fair value of warrant derivatives (70,864 )   -      -     
Non-GAAP net income attributable to JA Solar Holdings 249,494   142,731   21,054    
         
Non-GAAP net income per share attributable to ordinary shareholders:        
  Basic 0.87   0.61   0.09    
  Diluted 0.87   0.61   0.09    
         
Non-GAAP weighted average number of shares outstanding:        
  Basic 234,290,842   234,301,342   234,301,342    
  Diluted 234,482,552   234,317,372   234,317,372    
         
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Balance Sheets  
(Unaudited)  
         
  Dec. 31, Jun. 30,  
  2016 2017 2017  
  RMB'000 RMB'000 USD'000  
     
ASSETS        
Current assets:         
Cash and cash equivalents   2,569,402   3,233,663   476,991  
Restricted cash   836,761   1,137,672   167,816  
Accounts receivable    2,753,678   3,063,867   451,945  
Notes receivable    563,144   473,661   69,869  
Inventories   2,460,488   2,431,682   358,692  
Advances to suppliers   282,369   267,858   39,511  
Other current assets   799,314   552,080   81,436  
Total current assets   10,265,156   11,160,483   1,646,260  
Property and equipment, net   5,219,501   5,595,275   825,347  
Project asset   2,338,648   2,671,375   394,049  
Advances to suppliers   97,429   56,538   8,340  
Prepaid land use rights   524,208   531,723   78,433  
Long-term investment   69,022   71,717   10,579  
Other long term assets   517,292   700,988   103,401  
Total assets   19,031,256   20,788,099   3,066,409  
LIABILITIES AND SHAREHOLDERS’ EQUITY        
Current liabilities:        
Short-term borrowings    2,912,866   3,333,565   491,727  
Accounts payable    2,635,525   3,406,588   502,499  
Advances from customers   610,718   1,072,069   158,139  
Current portion of long term borrowings   525,256   792,123   116,844  
Accrued and other liabilities    1,966,475   1,698,903   250,601  
Total current liabilities   8,650,840   10,303,248   1,519,810  
Long-term borrowings    2,701,438   2,050,914   302,526  
Other long term liabilities   1,217,648   1,829,175   269,818  
Total liabilities   12,569,926   14,183,337   2,092,154  
Total JA Solar Holdings shareholders' equity   6,461,130   6,604,562   974,225  
Noncontrolling interest   200   200   30  
Total shareholders' equity   6,461,330   6,604,762   974,255  
Total liabilities and shareholders’ equity   19,031,256   20,788,099   3,066,409  
         
Contact:

The Blueshirt Group

Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Print
ET | Source: RGS Energy

DENVER, Aug. 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, reported results for its second quarter ended June 30, 2017. The company also filed its quarterly report on Form 10-Q, as well as posted supplemental financial information on the quarterly results page in the Investor Relations section of its company website.

Q2 2017 Financial Summary

(000’s omitted) Q2 2017
  Q1 2017
  Q2 2016
Net loss $(4,030)   $(4,034)   $(3,463)
Stockholders’ equity (deficit)   13,904     17,886     (4,966)
Working capital $12,743     $15,857     $(2,653)

The company believes it has adequate financial capital to grow its top-line revenue and achieve break-even and thereafter better results, in future periods. Implementation of this strategy requires up-front expenses to expand sales teams, marketing for customer leads and development and implementation of new products and services, which are required investments before the company can expect to realize increased sales. 

Growth Strategy Update
The company earlier issued a business update announcing progress on its top-line revenue growth strategy.

Second quarter of 2017 results compared to the first quarter of 2017:

  • Gross sales increased 2X
  • Net sales increased 3X
  • Size of the company’s sales organization increased 40%
  • Average number of sales per direct sales person increased 24%
  • Acquisition cost-per-sale decreased 34%
  • Residential cycle time reduced 31%

Management Commentary
“In Q2, our progress was in-line with expectations that we set in our last business update,” said Dennis Lacey, CEO of RGS Energy. “It is important to note that Q2 was our first full quarter of operating with what we believe is appropriate working capital in place to effectively pursue our growth strategy. As this is the first quarter on this basis, we are heartened by the positive trends.”

Conference Call
RGS Energy will hold a conference call to discuss its second quarter 2017 financial results later today.

Date: Wednesday, August 9, 2017
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-877-545-1407
International dial-in number: 1-719-325-4929
Conference ID: 9865811
Webcast: http://public.viavid.com/index.php?id=125727

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through August 16, 2017.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9865811

About RGS Energy 
RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “expect,” “target,” “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: RGS Energy’s ability to successfully implement its growth strategy, achieve its target level of sales, generate cash flow from operations, achieve break-even and better results, expand its sales teams and marketing, decrease its customer acquisition cost, and develop and implement new products and services; and RGS Energy’s current capital resources being sufficient to implement its growth strategy.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy
Condensed Consolidated Balance Sheets
(in thousands)
  June 30, 2017 December 31, 2016 June 30, 2016
Cash $9,745 $2,940 $490
Restricted Cash - 173 8,250
Other current assets 6,516 6,742 8,844
Total current assets 16,261 9,855 17,584
Non-current assets 4,196 4,518 4,386
Total assets $20,457 $14,373 $21,970
       
Debt $1 $787 $5,609
Accounts payable 547 2,019 7,107
Other current liabilities 2,970 3,469 7,521
Total current liabilities 3,518 6,275 20,237
Non-current liabilities 3,035 3,120 6,698
Total liabilities 6,553 9,395 26,935
       
Stockholders’ equity (deficit) 13,904 4,978 (4,965)
Total liabilities and stockholders’ equity $20,457 $14,373 $21,970
       
Other information:      
Working Capital $12,743 $3,580 $(2,653)
RGS Energy
Consolidated Summary Statements of Operations
(in thousands, except per share amounts)
  Three Months Ended June 30, Six Months Ended June 30,
  2017 2016 2017 2016
Contract Revenue:        
Sale and Installation of Solar Systems $2,708 $4,750 $6,070 $9,553
Service 277 133 568 270
Leasing 12 14 25 28
Contract Expense:        
Installation of solar systems 2,668 4,175 5,744 8,692
Service 491 291 809 630
Customer acquisition expense 1,329 618 2,251 1,416
Contribution (1,491) (187) (2,141) (887)
Operating expense 2,461 2,743 5,432 5,759
Other expense - - - -
Litigation expense 55 - 135 24
Operating loss (4,007) (2,930) (7,708) (6,670)
Taxes - (27) - (27)
Derivative & Other 10 (576) (368) (648)
Income (loss) from continuing operations (3,997) (3,533) (8,076) (7,345)
Income (loss) from discontinued operations (33) 70 12 231
Net Income $(4,030) $(3,463) $(8,064) $(7,114)
         
Other Information:        
Loss per Share $(0.53) $(162.60) $(1.32) $(338.40)
Weighted average shares outstanding 7,481 21 6,102 21
Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

fossil fuels, Renewable energy, india, Ministry of New and Renewable Energy, Anand kumar Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India. (Reuters)

Renewable energy is the only way for a country like India with the population as large as 1.25 billion that has finite fossil fuels to cater to the needs of all, said Anand Kumar, Secretary Ministry of New and Renewable Energy (MNRE). However, asserting the fact that India is determed to achieve the target of installing 175 gigawatt (GW) of renewable energy capacity by 2022, Kumar said that advancements in technology and dropping prices of solar and wind, the country can even surpass the target. “Under Prime Minister Modi, we up-scaled our total renewable energy target to 175 GW by 2022. With advancements in technology, and with price of solar and wind reducing, we are not only sure but confident that we will not only achieve the target, but exceed it,” he said.

While speaking at the 11th edition of Renewable Energy India Expo in Greater Noida on Wednesday, Kumar also said that in recent consultations, the MNRE has begun to take more seriously the potential of India’s offshore wind and hydropower capacities, and hinted that these technologies will be brought under the renewable energy target.

Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India, at a cost people are willing to pay, and not only willing to pay, but able to pay as well. He affirmed the path of least resistance is the one with the lowest carbon intensity. “India has limited fossil fuels. We depend on imports for petroleum. If we have to support and meet the demand of 1.25 billion people, then renewables are the only way.”

Kumar also turned his attention to manufacturing, particularly solar manufacturing where, he said India’s capabilities are “modest” at best. He concluded. “We should set up manufacturing bases for batteries in India. Once we overcome the obstacle of storage, then the ideal of 24-hour free energy for the people can be realized.”

BHEL, BHEL to diversify portfolio, next wave of growth, solar energy, power equipment maker BHEL, Going beyond thermal power State-owned power equipment maker BHEL today said it will create a diversified portfolio for its next wave of growth that will include areas like solar energy, transportation and water business. (Image: PTI)

State-owned power equipment maker BHEL today said it will create a diversified portfolio for its next wave of growth that will include areas like solar energy, transportation and water business. Going beyond thermal power, other areas for capitalising on emerging opportunities include defence and aerospace “to increase the share of business from non-coal areas”, BHEL CMD Atul Sobti said at the 53rd Annual General Meeting here. He said BHEL is facing newer challenges being thrown up by forces of change such as climate, technology disruptions, fragile geopolitics, newer regulations, suboptimal investment from private sector and changing energy-mix. The company’s manufacturing capacity for solar cells and modules has been expanded to 105 MW and 226 MW per annum, he said. On building capacity and capability through in-house resources and collaboration with global technology leaders, he said BHEL has recently entered into a pact with Kawasaki Heavy Industries Ltd for the manufacture of stainless steel coaches and bogies for Metro Rail.

Sobti further said: “The recent launch of bullet train project from Mumbai to Ahmedabad and new metro rail projects would bring new business opportunities for us.” He said BHEL has achieved capacity addition of 45,274 MW during the 12th Five Year Plan period (2012-17), surpassing the target of 41,661 MW set by the government by 9 per cent. On the defence sector, he said: “76/62 mm Super Rapid Gun Mount (SRGM) and Auxiliary Control System (ACS) was commissioned on INS Chennai, the third ship of the Kolkata- class stealth guided missile destroyers of the Indian Navy.

“With this, all the three ships of this class have been equipped with BHEL manufactured SRGM and ACS.” He added that despite intense competitive pressure during last fiscal, BHEL booked orders worth Rs 23,489 crore, ending the year with a total order book of Rs 1,05,200 crore for execution in 2017-18 and beyond. “Efforts are being made to convert stranded/slow moving orders into executable ones. Around Rs 12,000 crore of non- executable orders have been converted to executable during the year (2016-17),” he added.

Customer-focused business groups have been created for nuclear, hydro, defence & aerospace, and transportation for strengthening diversification efforts, he said. He further said that a dedicated ‘Project Closure Synergy Group’ has been created to ensure “early closure of project sites, optimise manpower utilisation, resolving outstanding issues with various stakeholders, and realising cash”. The BHEL achieved a carbon footprint avoidance of 14,378 MT CO2 equivalent during 2016-17 by generating 14.82 MU energy through in-house solar power installations. Sobti also told shareholders that the company has recommended issue of bonus shares in the ratio of 1 bonus share for every 2 held.

State-owned power equipment maker BHEL today said it will create a diversified portfolio for its...

Apple, iPhone, electric cars, electric cars can create disruption,  mobile phone industry, mobile phone giants It’s 10 years since Apple Inc. unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil. (Image: Reuters)

It’s 10 years since Apple Inc. unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil. The rise of Tesla Inc. and its rivals could be turbo charged by complementary services from Uber Technologies Inc. and Alphabet Inc.’s Waymo unit, just as the iPhone rode the app economy and fast mobile internet to decimate mobile phone giants like Nokia Oyj. The culmination of these technologies — autonomous electric cars available on demand — could transform how people travel and confound predictions that battery-powered vehicles will have a limited impact on oil demand in the coming decades. “Electric cars on their own may not add up to much,” David Eyton, head of technology at London-based oil giant BP Plc, said in an interview. “But when you add in car sharing, ride pooling, the numbers can get significantly greater.” Most forecasters see the shift away from oil in transport as an incremental process guided by slow improvements in the cost and capacity of batteries and progressive tightening of emissions standards. But big economic shifts are rarely that straightforward, said Tim Harford, the economist behind a book and BBC radio series on historic innovations that disrupted the economy.

Systemic Change

“These things are a lot more complicated,” he said. Rather than electric motors gradually replacing internal combustion engines within the existing model, there’s probably going to be “some degree of systemic change.” That’s what happened ten years ago. The iPhone didn’t just offer people a new way to make phone calls; it created an entirely new economy for multibillion-dollar companies like Angry Birds maker Rovio Entertainment Oy or WhatsApp Inc. The fundamental nature of the mobile phone business changed and incumbents like Nokia and BlackBerry Ltd. were replaced by Apple and makers of Android handsets like Samsung Electronics Co. Ltd.

Today, as Elon Musk’s Tesla and established automakers like General Motors Co. are striving to make their electric cars desirable consumer products, companies like Uber and Lyft Inc. are turning transport into an on-demand service and Waymo is testing fully autonomous vehicles on the streets of California and Arizona. Combine all three, for example through an Alphabet investment in Lyft, and you have a new model of transport as a service that would be a cheap compelling alternative to traditional car ownership, according to RethinkX, a think tank that analyzes technology-driven disruption.

One key advantage of electric cars is the lack of mechanical complexity, which makes them more suitable for the heavy use allowed by driverless technology, Francesco Starace, chief executive officer of Enel SpA, Italy’s largest utility, said in an interview. After disassembling General Motors’s Chevrolet Bolt, UBS Group AG concluded it required almost no maintenance, with the electric motor having just three moving parts compared with 133 in a four-cylinder internal combustion engine.

“Competitiveness very much depends on the utilization of the car,” Laszlo Varro, chief economist at the International Energy Agency, said in an interview. The average Uber vehicle covers a third more distance than the typical middle-class family car in Europe, amplifying the benefit of lower running costs to the point that “the oil price at which it makes sense to switch to electric is $30 per barrel lower,” he said.

Uber on Steroids

The total cost of ownership of electric and oil-fueled vehicles will reach parity in 2020 for shared-mobility fleets, five years earlier than for individually-owned vehicles, according to Bloomberg New Energy Finance. Already in London, Uber plans for its UberX service to be hybrid or fully electric by the end of 2019. Its rival Lyft aims to provide at least 1 billion rides a year in autonomous electric vehicles by 2025, saying they can be used much more efficiently than gasoline-powered cars. This combination would be “the Uber model on steroids,” Steven Martin, chief digital officer and vice president of General Electric Co.’s Energy Connections unit, said in an interview. “Once you have complete autonomous operation of a vehicle, then my desire to own one is going to go down and I’ll be more willing to sign up to a subscription service.”

Autonomous Hurdles

The transition to fully autonomous fleets may not match the speed of the smartphone revolution because of the many regulatory, legal, ethical and behavioral hurdles. Self-driving technology should become available in the 2020s, but won’t be widely adopted until 2030, BNEF says. Even so, the shift to electric cars could displace about 8 million barrels a day of oil demand by 2040, more than the 7 million barrels a day Saudi Arabia exports today, the London-based researcher says. That could have a significant impact on oil prices—a drop of 1.7 million barrels a day in global consumption during the 2008-2009 financial crisis caused prices to slump from $146 a barrel to $36.

That doesn’t mean oil giants like BP or Exxon Mobil Corp. are heading for an inevitable Nokia-style downfall. While transport fuels account for the majority of their sales, they also have huge businesses turning crude into chemicals used for everything from plastics to fertilizer. They also pump large volumes of natural gas and generate renewable energy, both of which could benefit from increased electricity demand.

Even if electric vehicles do grow as rapidly as BNEF forecasts, the world currently consumes 95 million barrels a day and other sources of demand will keep growing, said Spencer Dale, BP’s chief economist. The London-based energy giant expects battery-powered cars to reduce oil demand by just 1 million barrels a day by 2035, while also acknowledging the potential for a much larger impact if the industry has an iPhone moment.

The sheer breadth of the potential disruption makes it hard to predict what will happen. When Steve Jobs unveiled the iPhone, few people anticipated that it meant trouble for makers of everything from cameras to chewing gum. “The smartphone and its apps made new business models possible,” said Tony Seba, a Stanford University economist and one of the founders of RethinkX. “The mix of sharing, electric and driverless cars could disrupt everything from parking to insurance, oil demand and retail.”

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Mahindra Group has started getting a sense that the electric vehicle (EV)...

The Route 55 in Gothenburg, Sweden (pictured). It is a dedicated line for hybrid and full electric buses. Operational since June 2015, the 10 electrified buses have carried 1.5 million passengers. Can we replicate this success story in India?

India spends $100 billion annually on the import of fossil fuels. The transportation sector (including railways) accounts for 70% of diesel consumption—and 40% of diesel consumption can be attributed to commercial vehicles. It is easy to understand India’s drive to join countries like Sweden, Germany, France and Norway to eliminate vehicles powered by fossil fuel in foreseeable future. We, at Volvo Buses, have adopted a proactive strategy towards green fuels. Since 2008, we have sold more than 3,500 hybrids and electric buses globally. The India journey began with the delivery of two hybrid buses to the Navi Mumbai Municipal Corporation—these have performed to expectations, delivering 35% reduction in fuel consumption and emissions, without the need for investment in incremental infrastructure. The government has been supportive in releasing considerable subsidy under FAME scheme. It is welcome news that as the second phase is being formulated, the first phase of FAME has been extended to March 31, 2018.

Hybrid buses represent the most optimal intermediate phase as we migrate towards full electric vehicles. One needs to emphasise on the word ‘gradual’. The introduction of full electric buses must be seen as a turnkey project that involves policy-makers, manufacturers, operators, infrastructure providers, financiers, charging systems specialists, utilities and academia, among others. A case in point is Route 55 in Gothenburg, Sweden. As many as 15 stakeholders have come together to set up a dedicated line for hybrid and full electric buses. Operational since June 2015, the 10 electrified buses have carried more than 1.5 million passengers.

What would it take to replicate this success story in India?

In a nutshell, we require (1) economies of scale, and (2) standardisation of technology and interoperability. Economies of scale: Any capital-intensive venture has to grapple with the chicken and egg story. Will assured demand result in lowering of costs or is it the other way round? To solve this puzzle, we must adopt the ‘and’ approach. Economies of scale can be realised if demand and supply can be simultaneously triggered. Across important cities, we need green zones that mandate assured procurement and deployment of electrified buses. Supporting infrastructure in the shape of dedicated corridors, unhindered access to electricity and charging infrastructure is called for. This green public transport ecosystem needs to be accorded infrastructure status so that it may receive priority funding.

Congestion and entry taxes on personal vehicles can complement. Correspondingly, users must be incentivised to opt for greener buses. Against this backdrop, manufacturers, battery makers, charging system providers can embark on localisation. Buses, battery management, set-up and access to charging stations as well as finance may be offered as a bundled offering to customers. Such an approach will prevent electric vehicles from being overly dependent on subsidies.

Standardisation of technology and interoperability: The promotion of common open standards, data interoperability and efficient data exchange is closely correlated with promoting sustainability and realisation of economies of scale. Standardisation needs to happen in areas of battery technology, charging infrastructure, vehicle propulsion technologies. Specific protocols need to be in place to ensure high standards of performance, safety, reliability and emission benefits. For electric vehicle propulsion, we have a many battery technology options such as lithium-nickel-cobalt-aluminium, lithium-nickel-manganese-cobalt, lithium-manganese-spinel, silver-zinc batteries, metal-air batteries, etc. Each of these battery types has trade-offs in terms of safety, life, cost, performance, power, energy and availability. For instance, lithium-nickel-manganese-cobalt batteries are safer than lithium-nickel-cobalt-aluminium batteries, but the reverse is true for their respective lifetimes. Each of these technologies will evolve. Hence, standardisation must be undertaken to account for current and future applications.

Standardisation of charging infrastructure is one of the most challenging aspects of a budding electro-mobility programme. A number of country-specific AC and DC fast-charging systems are in existence. These systems have issues with interoperability, mainly in terms of standard connectors and voltage compatibility. We have been championing OPPCharge, which is a fast DC charging system developed as an open industry standard in partnership with European electric bus makers, as well as charging solution providers ABB and Siemens. The primary objective is to ensure open interface for charging infrastructure that will enable buses from various suppliers and allow for interoperability in terms of charging. The system is fully automated and Wi-Fi communication enables buses to connect with chargers precisely and safely. OppCharge is flexible and versatile—with charging rails positioned over the front axle, it can also be used to charge electric double-decker buses and trucks. Electro-mobility must be a part of holistic urban planning and multi-modal transport framework. The objective is to offer green public transport solutions without compromise on flexibility and reliability so that citizens have a desirable alternative to personal modes of transport.

Different approaches to electro-mobility call for correspondingly varied infrastructure. For instance, an overnight-charged electric bus will require assured power supply at night when the load on the power grid is low. Such a bus must also carry larger batteries to account for extended charging intervals. This scenario is reversed for electric vehicles that rely on fast opportunity charging. Batteries are smaller and thus more passengers can be carried. In this case, the imperative is that the charging infrastructure at bus stops and depots must be flexible and extensive. Buses depending on battery swaps do not have to worry about charging, but battery size and, by implication, passenger carrying capacity will depend on access to battery swap stations. Irrespective of which electric vehicle technology a city opts for, there must be a system to change old batteries and dispose those that have reached the end of life. Given the complex considerations, a city must decide clearly which technology approach is best suited to its needs.

Finally, clean energy is thus far the missing block in the electro-mobility Lego game. Coal-based thermal energy powering electric vehicles is a paradox. But this situation is poised to change for good. The MNRE targets to quadruple renewable energy generation—from 43GW in 2016 to 173GW in 2022. The electro-mobility journey is a marathon at the moment. We need to be prepared for the sprint.

VRV Sriprasad
The author is MD, Volvo Buses, South Asia

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