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Sat, Sep

Canadian Solar Inc., one of the world's largest solar power companies, announced today it has been awarded a contract to supply 164 MW of photovoltaic (PV) modules to the 350 MWp Escatrón Solar power project owned by COBRA Group, a subsidiary of ACS Group in Spain.Canadian Solar Inc., one of the world's largest solar power companies, announced today it has been awarded a contract to supply 164 MW of photovoltaic (PV) modules to the 350 MWp Escatrón Solar power project owned by COBRA Group, a subsidiary of ACS Group in Spain.


ACS Group will serve as the EPC provider of the project that was awarded in the recent round of Spain's renewables auction in July 2018. Over 481,900 Canadian Solar's high-efficiency MaxPower modules (CS6U-P 345/350 W) will be installed.  This 72-cell polycrystalline module is the best solution for this large-scale project, as it offers industry-leading cell technology and low power loss in cell connections, which are the key factors for the success of the project.  Module shipments will commence in September 2018 and the project is expected to reach commercial operation in 2019. 


Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "We are delighted to partner with COBRA and supply our high-efficiency modules to this mega project in Spain. It is good to see market demand has started to rebound in Europe and we look forward to delivering more clean and affordable solar energy to the continent."


The Escatrón solar project is one of several large-scale solar projects awarded in Spain's renewable energy auction held in 2018.  ACS Group had the largest share of the solar projects awarded with around 1.55 GWp of assigned capacity. The PV projects selected in the contest must start delivering power in 2019.

JinkoSolar Holding Co., Ltd., a global leader in the photovoltaic (PV) industry, today announced that it was ranked as a top solar brand in debt financed projects and named the most "bankable" PV manufacturer by Bloomberg New Energy Finance (BNEF) for the second consecutive year. 57 solar manufacturers were ranked based on BNEF's global survey of key PV stakeholders assessing which module brands used in projects are most likely to obtain non-recourse debt financing from commercial banks.

JinkoSolar Holding Co., Ltd., a global leader in the photovoltaic (PV) industry, today announced that it was ranked as a top solar brand in debt financed projects and named the most "bankable" PV manufacturer by Bloomberg New Energy Finance (BNEF) for the second consecutive year. 57 solar manufacturers were ranked based on BNEF's global survey of key PV stakeholders assessing which module brands used in projects are most likely to obtain non-recourse debt financing from commercial banks.


Survey respondents included 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 modules have secured more debt financing than any other brand since July 2016.


"To be nominated again by BNEF confirms that JinkoSolar is the preferred brand by customers, investors, and banks due to their high quality," said Kangping Chen, CEO of JinkoSolar. "The brand that industry players and banks are more willing to use in their projects and finance is JinkoSolar, which I am extremely proud of. Our R&D team is committed to nurturing technological innovation and quality improvements. We believe that high-quality products will bring better returns to investors."

Sembcorp Industries (Sembcorp) is pleased to announce that it has signed a long-term solar energy deal with US-headquartered tech company, Facebook. Under this deal, Sembcorp will help provide locally-sourced renewable power to support Facebook’s recently announced 170,000 square metre Singapore data centre, as well as its other Singapore operations, over the next 20 years.  Sembcorp Industries (Sembcorp) is pleased to announce that it has signed a long-term solar energy deal with US-headquartered tech company, Facebook. Under this deal, Sembcorp will help provide locally-sourced renewable power to support Facebook’s recently announced 170,000 square metre Singapore data centre, as well as its other Singapore operations, over the next 20 years. 

Sembcorp is a homegrown Singapore power player with over two decades in the business. It is the only established power gentailer (generation affiliated retailer) in the country to offer renewable energy, and has one of Singapore’s largest solar power portfolios. Sembcorp will serve Facebook’s renewable energy needs through offsite solar panels totaling 50 MWp in capacity. These panels will be installed on close to 900 rooftops in the land-scarce island state, between the end of this year and 2020.

Koh Chiap Khiong, Head of Sembcorp’s energy business in Singapore, Southeast Asia and China, said, “At Sembcorp, our goal is to provide energy that makes a difference. One key way is through providing clean energy to companies and our community. Against this background, Sembcorp is very honoured to become Facebook’s first renewable energy partner in Asia, with our new 20-year solar power deal.  This demonstrates our ability to offer clients a strong value proposition to support their power needs and meet their environmental goals at the same time.  We look forward to working with more companies for such solutions in the future.”

Commenting on the deal, Neil McGregor, Group President & CEO of Sembcorp Industries, said, “Our deal with Facebook is an example of how Sembcorp is aligning its business to the future. As our world moves towards renewables and lower-carbon energy, there is an increasing demand for solutions that enable businesses to achieve growth while managing their impact on the environment. Sembcorp is actively working with companies in this, and supporting their efforts towards this dual objective.”

Bobby Hollis, Head of Global Energy at Facebook, also welcomed the deal.  “This agreement represents our first step towards supporting our Singapore Data Center and local offices with 100% renewable energy,” he said.  “We are thrilled to have Sembcorp as our partner on this project and excited to see the continued acceleration in the growth of the renewable energy market in Singapore.”

Sembcorp has a strong commitment to sustainability. The company has been steadily growing its renewable energy business, and now has over 2,500 megawatts of wind and solar power projects across Singapore, China and India. Earlier this year the company announced ambitious targets to double its renewables portfolio and reduce its carbon intensity by around 25% by 2022.

This contract involves the sale of 100% of the renewable energy attributes from the surplus power generated by Sembcorp’s 50 MWp of solar panels. These sales will commence in tandem with the installation of the rooftop panels between end-2018 and 2020. The contract is not expected to have a material impact on the earnings per share and net asset value of Sembcorp Industries for the financial year ending December 31, 2018.

For the total offered capacity of 500 megawatts, GUVNL had received bids from 13 project developers willing to develop over 1,900 megawatts of capacity — an oversubscription of nearly four times the tender. Some of the major developers that have submitted bids include Orange Renewables, Eden Renewables, Aditya Birla Renewables, Canadian Solar, Azure Power, Adani Green Energy, and Tata Power. Some of the major omissions from this list were Acme Solar and SB Energy — both these companies have been among the largest and most competitive bidders in national level solar power tenders.

The initial offers to set up capacity under this tender varied from just 30 megawatts to a full bid of 500 megawatts, by Azure Power.Against the total offered capacity of 500 megawatts, GUVNL had received bids from 13 project developers willing to develop over 1,900 megawatts of capacity — an oversubscription of nearly four times the tender. Some of the major developers that have submitted bids include Orange Renewables, Eden Renewables, Aditya Birla Renewables, Canadian Solar, Azure Power, Adani Green Energy, and Tata Power.

Some of the major omissions from this list were Acme Solar and SB Energy — both these companies have been among the largest and most competitive bidders in national level solar power tenders. The initial offers to set up capacity under this tender varied from just 30 megawatts to a full bid of 500 megawatts, by Azure Power.

It is interesting to note that GUVNL has re-tendered this capacity after first completing an auction of 500 megawatts in February this year, and then cancelling the same. While GUVNL did not specify any reasons for the cancellation of the auction, it is widely believed GUVNL found the tariff bids quoted by developers to be too high.

 

Company Name INR/ kWh MW
Aditya Birla Renewables Pvt Ltd 2.44 100
Giriraj Renewables Pvt Ltd 2.44 300
Azure Power India Pvt Ltd 2.45 500
Adani Green Energy Ltd 2.49 200
UPC Solar India Pvt Ltd 2.55 50
Fortum Solar Plus Pvt Ltd 2.63 100
Feynman Solarfarms 2.79 250
Tata Power Renewable Energy 2.85 50
Kalthia Engg & Construction Ltd 2.88 50
     
Reserve Price 2.7  

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