22
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."

Grasshopper Solar, Canada's largest vertically integrated solar energy company announces a USD $80 million investment in Setouchi Koken's Iizuka Solar Plant located in Fukuoka, Japan. This 21.6MW ground mount project will utilize 65,455 solar panels, generate 26,136 MWh of clean energy and offset 19,451 tons of carbon emissions per annum.Grasshopper Solar, Canada's largest vertically integrated solar energy company announces a USD $80 million investment in Setouchi Koken's Iizuka Solar Plant located in Fukuoka, Japan. This 21.6MW ground mount project will utilize 65,455 solar panels, generate 26,136 MWh of clean energy and offset 19,451 tons of carbon emissions per annum.


The Iizuka Power Plant will be developed by Setouchi and its Japanese partners with construction commencing in Q4 2018 and expected to achieve commercial operation by Q3 of 2020. This project once completed will participate in the country's Feed-in Tariff program with a 20-year JPY ¥36/kWh contract awarded by METI (Ministry of Economy, Trade and Industry).


"We are pleased to have made this milestone investment in Japan. We expect strong growth of our asset base as we continue through with our expansion plans into this market. We chose Japan given the country's strong commitment to renewable energy reflected in public opinion and the regulatory and policy framework," said Azeem M. Qureshi, CEO, Grasshopper Solar.


"We will continue to grow and execute on our existing Japanese pipeline of USD $1.2 billion of solar projects. As our asset base continues to scale, our team continues to originate creative solutions, enabling projects to provide maximum value for all stakeholders," said Jonathan Persaud, Chief Development Officer, Grasshopper Solar.


The solar power boom in Japan has accelerated dramatically over the years. Japan installed 7GW in 2017 for a total 50GW and is on track to install another 7GW by the end of 2018. Solar energy's share of electricity production in Japan is now estimated at 7% and projected to grow to 12% by 2030.

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.

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.

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."

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  

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."

The world’s largest thin-film power solution company, Hanergy Thin Film PowerGroup (00566.hk), today announced that its US based subsidiary, MiaSolé has finished Europe’sbiggest flexible modules solar project in a Dutch city, Den Bosch, recently.As part of this ground-breaking project, 418 lightweight MiaSolé flexible modules were installed onthe roof of Maaspoort Sports Center, a large sports complex, realizing approx. 125 MHh of cleanenergy per year.Further, on the science of the project, these 418 flexible solar modules, each measuring 2.6m * 1m,were agglutinated to the Evalon roof.

Evalon happens to be very environment friendly and longlasting (up to 40 years) roof membrane which is more suitable for PV solar modules compared toother roofing materials.Notably, Hanergy’s solar solution used at the Maaspoort Sports Center in Den Bosch makes thebuilding being labelled as the largest sustainable building with flexible modules, ensuing additionalgovernment subsidies.Weka Company was the installer.

Its spokesperson Dick Groenenberg said, “We were confident thatthe project combining Evalon with flexible thin film PV would have great market potential. While,we’re aware that there are varied roofing materials available in the market but this lightweightmodule photovoltaic solution from Hanergy is the only way to further enhance large-scalesustainability. We’re happy to associate with Hanergy Netherlands, more so, our identical expertisein thin film solar and roofing will help us win many accolades in the future.”

Mr. Albert Lin, Senior Vice President of Hanergy Netherlands, said “We look forward to work onmore significant projects with Weka and together lead the thin film solar industry. Thanks to WeKa's unparalleled expertise in roofing materials and coatings and our synergies, this project turned out tobe most effective and successful.”

MiaSolés FLEX-02W 370W modules weight approximately 3kg per square meter, compared totraditional crystalline silicon solar modules weight approximately 18kg per square meter.The advantage of flexible module is that it can be agglutinated directly to the roof surface with noballast.

Flexible modules are comparable to crystalline silicon components in terms of efficiency and outputand are available in different lengths and widths. MiaSolé is a US based subsidiary of Hanergy.

MiaSole products include the flexible lightweight andpowerful solar cell and solar module. These MiaSole products are ideal for a variety of applications.

Since 2009, Hanergy is painstakingly working to integrate worldwide solar technology, and makingrobust investment for the research and innovation in field of thin-film solar power.Hanergy recently announced several cooperative associations with foreign companies,including US$4.3 million sales contracts with 15 Latin American companies anda US$1.3billion HanTile sales contract with Japanese construction and solar power conglomerate,Forest Group.

Till the present day, Hanergy Thin Film Power Group has applied more than 4,000 patents, amongwhich nearly 1,000 have been granted. Hanergy is all set to revolutionize the global mobile energyindustry through its varied offerings equipped with advanced technologies.

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."

 

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