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Fri, Sep

Canadian Solar Inc., one of the world's largest solar power companies, today announced it has closed a $125 million global guarantee facility with Export Development Canada ("EDC"), Canada's export credit agency. The facility was increased to US$125 million from US$100 million, and will support existing and future project development activities undertaken by Canadian Solar across North America, Latin America, Europe, Asia and Australia.Canadian Solar Inc., one of the world's largest solar power companies, today announced it has closed a $125 million global guarantee facility with Export Development Canada ("EDC"), Canada's export credit agency.

 

The facility was increased to US$125 million from US$100 million, and will support existing and future project development activities undertaken by Canadian Solar across North America, Latin America, Europe, Asia and Australia.


Under the global facility, EDC will provide Performance Security Guarantees for up to US$125 million to cover credit exposure of Royal Bank of Canada and China Construction Bank Corporation on letters of credit and letters of guarantee issued on behalf of Canadian Solar.


"We highly value our relationship with EDC as we continue to promote clean, reliable and emission-free solar energy worldwide. This represents the fourth consecutive year of financial support from EDC, testament to our leading position in the global solar industry," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, "This expanded global facility provides us with a flexible capital source and enhances our capacity and competitiveness across multiple solar development opportunities."

Daqo New Energy Corp., a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that it plans to discontinue its solar wafer manufacturing operations in September 2018 so that the Company can focus on its core polysilicon manufacturing business. Daqo New Energy Corp. , a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that it plans to discontinue its solar wafer manufacturing operations in September 2018 so that the Company can focus on its core polysilicon manufacturing business. 


The Company expects to incur approximately US$21.6 million in fixed-asset impairment and restructuring charges during the third quarter of 2018, including approximately US$1.6 million in employee severance payments and approximately US$20.0 million in impairment of long-lived assets.


Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We made a strategic decision to discontinue our solar wafer manufacturing operations to accommodate the increasingly challenging market conditions for multi-crystalline wafers. We expect to complete the shutdown of the solar wafer business in the third quarter of 2018. This move will allow us to focus all of our resources and expertise on our core polysilicon manufacturing business and Phase 3B expansion project which will begin pilot production in the fourth quarter of 2018."

Sungrow, a global leading inverter solution supplier for renewables, announced recently that it is supplying 80 MW PV inverters for the first utility-scale solar project in Wyoming, which highlights Sungrow's high recognition and strong brand influence in the North American PV market.

Wyoming, known for Yellowstone National Park, has strict regulations on the environmental protection. Once this project is completed, the 80 MW system can meet the daily electricity demand of local residents, reduce the dependence on gas and thermal power, and improve energy structure effectively.Wyoming, known for Yellowstone National Park, has strict regulations on the environmental protection. Once this project is completed, the 80 MW system can meet the daily electricity demand of local residents, reduce the dependence on gas and thermal power, and improve energy structure effectively.


The plant is located in an unmanned area, with grid voltage usually fluctuating acutely, under extreme environmental conditions of extremely cold temperatures in winter and a sharp temperature difference in summer. These extremities require high reliability and easy maintenance for inverters. Sungrow's high-quality PV inverters used in this project are rated at 2.75 MW and feature a turnkey solution for 1500 Vdc system. The inverters are able to perform with full power available from -30 to 60 degrees Celsius, efficiently generating power in harsh conditions. In addition, the turnkey solution with a central inverter and transformer significantly saves the cost for commissioning and installation, making it the ideal solution for this project, and maximizing the return on the investment.


"This project creates sustainable value for our customer and will provide clean renewable energy for thousands of Wyomingites for years to come, which underscores our leading position to provide PV solutions across the globe," said Professor Cao Renxian, Chairman of Sungrow. "We will continue to leverage our expertise to accelerate the adoption of clean power across the entire globe."

 

Trina Solar Limited, a leading total solutions provider for solar energy, has received a top rating in the latest annual module bankability report, published by Bloomberg NEF (BNEF). With this latest report, Trina Solar is now the only module manufacturer to be rated as fully bankable three times in a row by 100% of industry experts participating in the BNEF survey. Trina Solar Limited, a leading total solutions provider for solar energy, has received a top rating in the latest annual module bankability report, published by Bloomberg NEF (BNEF).

With this latest report, Trina Solar is now the only module manufacturer to be rated as fully bankable three times in a row by 100% of industry experts participating in the BNEF survey.


When assessing the bankability of a PV manufacturer, banks focus on the financial health of the company; the track-record of its modules in the field; and the manufacturer's warranties, according to survey participants. For its survey, Bloomberg NEF reached out to banks, funds, EPCs, independent power providers (IPPs) and technical advisors worldwide. These experts represent an installed PV capacity of 29GW globally. BNEF also conducted a series of in-depth interviews with quality inspectors and technical advisors, complementing the survey.


Rongfang Yin, Executive Vice President of Trina Solar, commented: "We are very proud of the great result Trina Solar has achieved once again in this renowned industry report. The fact that we keep holding the top spot for the third year in a row is not a coincidence, but reflects a solid financial situation and healthy quality record, which are both valued by banks and investors around the world who are deeply involved in project financing." Yin added, "This unbiased distinction may give additional reassurance to companies looking for a reliable long-time partner in an industry situation characterized by uncertainties and where more fragile players are dropping out of the market."


The latest BNEF report also quotes the PV Module Reliability Scorecard, published by DNV GL, where Trina Solar has emerged as "Top Performer" among global module manufacturers for the fourth time since 2014. The scorecard is the most comprehensive comparison of PV module reliability test results publicly available on the market today. According to DNV GL, participating manufacturers are seeking third-party endorsement for their high-quality mindset.

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