Hareon Solar forms JV with Nereus Capital and Treasury Group

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  The new projects in India are expected to produce enough energy to power over 13,000 homes. Image: Hareon

Chinese solar energy company Hareon Solar has agreed to a joint venture (JV) with Nereus Capital and Treasury Group, with the JV company — Nereus Capital Investments Singapore — will be majority owned by Hareon Solar  and will invest in PV projects in India.

Nereus Capital Investments Singapore will develop, construct and operate around 32MW of projects through wholly owned project companies in India. The project companies will largely sell off electricity to publically listed companies in India, with the installations set to ramp up operations in late 2015.

The projects are expected to produce around 52,000,000 kWh of electricity annually — enough to power over 13,000 homes.

Dr. Jie Zhang, VP of global business development at Hareon Solar, said: “This is Hareon Solar’s third Indian investment this year, following announcements last month about our partnership with ReNew Power for a 72MW project, and our partnership with Keshav Power Limited for a strategic investment in solar cell manufacturing unit in India. Hareon Solar has been serving India market since 2011, and we are committed to investing more in India.”

ET Solar launches “Smart Flex” modules in Mexico

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  The new modules are equipped with Tigo Energy’s TS4 platform solution. Image: ET Solar

Renewable energy equipment provider ET Solar has announced a new slate of modules, tabbed as the “ET Smart Flex.”

ET Solar developed the new modules, which are comprised of Tigo Energy’s TS4 platform, a universal junction box solution.

The modules, which are assembled in Mexico, have been developed to assimilate the applications of a wide swath of Module Level Power Electronic (MLPE) functions, including diodes, monitoring, safety, optimization and longer strings.

Patrick Guo, vice president of ET Solar, said: "Mexico enjoys one of the best solar irradiation levels, its PV market has the potential for steady growth. With our strong affiliations with Tigo Energy, EXEL Solar and other local partners, we are delighted to deliver this innovative PV module to Mexican customers, and to solve problems in a smart and easy way."

Catalogue of woes at PV encapsulant producer STR Holdings

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  PV encapsulant producer STR Holdings is battling continued losses, laclustre sales and second warning from NYSE regarding de-listing. Image: PV Tech

Financials

• STRI
  NYSE
  0.910
  -0.200 (-18.02%)
  4:02PM EDT

PV encapsulant producer STR Holdings is battling continued losses, laclustre sales and second warning from NYSE regarding de-listing. 

According to SEC filings, STR has been threatened with delisting from NYSE, due to its share price trading below the US$1.0 threshold for more than 30 consecutive trading days. 

In January, 2015 the company undertook a reverse stock split to regain compliance. Not surprisingly, STR noted that it did not plan a second reverse stock split, at this time.

Although STR has around six months to address the US$1.0 threshold, it does not have that luxury in relation to meeting an average market capitalisation of US$15 million on a 30 day consecutive trading timeframe, as no ‘cure’ period exists under NYSE rules.

However, PV related stocks have been hit by a number of sell-offs this year, driven by oil prices to China’s slowing economy. 

Not helping has been annual losses of US$211.6 million in 2012, US$18.3 million in 2014 and US$22.7 million in 2014. The company has reported a net loss of US$5.9 million in the first half of 2015. 

Sales had followed a similar pattern even after China-based PV project developer Zhenfa Energy Group acquired a majority stake in the company and pushed sales through its PV module assembly subsidiary in China. 

STR had sales of US$15.3 million in the first six months of 2015, down from US$20 million. Sales have at least improved slightly in the second quarter, reaching US$8.5 million, supported by the highly unusual bartering route of accepting PV modules as payment instead of cash from its customer ReneSola. 

ReneSola accounted for approximately 37% of STR’s net sales in 2014, its largest single customer. However, STR was forced to close its production plant in Malaysia after ReneSola said it was withdrawing from the OEM business model. 

STR said that during the second quarter it had entered into a module-for-encapsulant swap transaction with Zhenfa and ReneSola to settle outstanding payments of around US$7.5 million. 

STR received modules from ReneSola that were then sold to Zhenfa, providing STR with US$2.2 million in cash in the quarter. 

STR finished the second quarter of 2015 with US$10.4 million in cash and no debt.Cash and cash equivalents balance stood at US$16.5 million at the end of 2014, compared to US$58.1 million at the end of 2014, equating to a net decease of US$41.62 million in the year. The Zhenfa acquisition was completed in late 2014. A total of around US$24 million of cash was returned to investors via buying outstanding shares at the beginning of the year. 

Going downstream 

In reported second quarter earnings, STR Holdings confirmed PV Tech’s previous assertions that the company was planning to target the downstream project business in the US as possibly its only chance to return to near-term profitability. 

STR noted that it had engaged the services of a US-based investment bank to assist in finding ways to enter the downstream sector, while advising on potential investments. 

Robert S. Yorgensen, chairman, president and CEO of STR Holdings said, "We believe that the battle for success in the encapsulant business will be won in China, where we are currently focusing our related growth initiatives and working more closely than ever with our majority shareholder to leverage synergies and drive new sales. Pertinent examples include the initial swap agreement with Zhenfa and ReneSola, executed in the second quarter, and the recent appointment of two key Zhenfa executives to positions within STR Holdings."At the same time, we are also seeking to diversify the Company toward more lucrative sectors of the renewable energy industry, where earnings and valuation multiples have been more attractive."

Business development 

STR also noted that it had 14 PV module manufacturers in certification testing of its paperless encapsulant in the second quarter of 2015, while eight companies had completed certification testing, while two potential customers required re-testing. 

According to the company, six new customers (one said to be a leading player) had placed initial unspecified volume encapsulant orders in the quarter. 

However, management also noted that it had delayed supplying Zhenfa's PV module assembly subsidiary, formerly known as Zhangjiagang Huhui Segpv Co, until the end of 2015.

Daqo hit by big fall in polysilicon ASP’s

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  Daqo reported second quarter revenue of US$34.3 million, down from US$41.9 million in the prior quarter. Image: Daqo

Financials

• DQ
  NYSE
  16.01
  +0.58 (3.76%)
  4:02PM EDT

China-based polysilicon producer Daqo New Energy’s financial results were impacted by a sharp decline in polysilicon prices in the second quarter of 2015. 

Daqo reported second quarter revenue of US$34.3 million, down from US$41.9 million in the prior quarter. 

The sales decline was primarily attributed to polysilicon ASP’s declining from US$18.09/kg in the first quarter of 2015, to US$15.95/kg in the second quarter. 

Gongda Yao, CEO of Daqo New Energy, said in an earnings call: “The situation was exacerbated by escalating poly imports from outside of China where we saw an increase of 30% versus the first half of 2014. In particular customer data indicated Korea poly imports increased significantly high by 70% versus the first half of 2014. However, since June we have seen encouraging sign of a strong end market demand with poly prices stabilising.”

The company also noted that it had conducted annual maintenance of its Xinjiang polysilicon facilities, which had affected polysilicon production for five days. As a result, the production volume and sales volume of polysilicon in decreased slightly, compared to Q1 2015.

Polysilicon production volume was therefore 1,734MT in the second quarter, compared to 1,801MT in the prior quarter. Polysilicon sales volume was 1,363MT in, compared to 1,502MT in the first quarter.

The knock-on effect of the lower production due to the annual facility maintenance was that the production cost for polysilicon was said to have increased to US$12.98/kg, compared to US$12.8/kg in the prior quarter. 

Gross profit was around US$$3.6 million, compared to US$8.5 million in the first quarter of 2015.

Daqo also reported wafer sales volume of 18.3 million pieces in the quarter, compared to 18.1 million pieces in the previous quarter. 

With the ‘process in trade’ import exemption expiring at the end of August, Daqo noted that a 4% import tariff in addition to AD and CVD tariff in the range of 2.4% to 57% would be implemented, creating total import tariffs in the order of 6.4% to 61%. 

Daqo expects the import duties to improve the supply and demand situation for polysilicon within China, with polysilicon ASP’s possibly rising again in the fourth quarter of 2015 or in the first quarter of 2016. 

Management noted in the earnings call that it did not expect polysilicon ASPs to make further declines as was trading for many companies at production cost levels. 

The company recently announced plans to expand polysilicon production to reach around 18,000MT annually by the beginning of 2017, providing further scale to reduce polysilicon costs. 

meteocontrol to offer remote control systems for first phase of 900MW PV plant in Pakistan

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  meteocontrol will also provide data acquisition devices, sensor and portal software, as well as configuration, commissioning and training services. Image: Shunfeng International

meteocontrol China, a subsidiary of Shunfeng International Clean Energy, is set to offer integrated remote control systems to PV development and investment company Zonergy’s 100MW phase-one set for a power station in Punjab Province, Pakistan.

Once completed, the installation is estimated to stand as the largest single PV power project at 900MW. As part of the agreement between the two parties, meteocontrol will offer data acquisition devices, sensor and portal software, along with related configuration, commissioning and training services.

meteocontrol will also provide specialized monitoring — in addition to operation and maintenance solutions — for Zonergy’s total development plan for its PV power plant business segment.

Jacky Jia, vice president of Zonergy, said: “Zonergy and meteocontrol have reached a consensus that we will jointly seize the market opportunities brought by China's "One Belt, One Road" strategy, through leveraging meteocontrol's extensive expertise in PV power station operation and maintenance management, so as to ensure the quality of our power station, provide greater efficiency, reduce generation costs, and create more value for the customers.”

Wircon starts work on Scandinavia’s largest solar plant

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  Expected annual electricity production is about 61,000 MWh, which is enough to supply electricity to around 90,000 households. Image: Eon.

German-based PV developer Wircon has begun preparing a 60MW solar plant near Copenhagen, Denmark, the biggest PV plant in Scandinavia.

The firm began preparatory work three weeks ago and is holding a ground-breaking ceremony on 11 August.

Expected annual electricity production is about 61,000 MWh, which is enough to supply electricity to around 90,000 households.

It consists of 239,000 solar modules from Astroenergy, which belongs to China Chint Group. It also includes 1,700 inverters from leading manufacturer SMA Solar Technology.

The solar park is due to be completed by the end of November 2015 and connected to the grid this year.

Peter Vest, chief executive of Wircon, said: "The site is suitable because of its high radiation and the constant winds for cooling modules.”

Pattern Energy enters solar market by constructing 122MW Chile project

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  Conejo Solar has a 22-year power purchase agreement (PPA) with Minera Los Pelambres, an affiliate of Antofagasta Minerals, for roughly 65% of the project's output. Source: Flickr/Nicolas De Camaret.

Renewable energy developer Pattern Energy Group has started construction on its 122MW Conejo Solar PV project in Chile and completed around US$205 million of project financing.

The project is located around 30 kilometres east of Taltal in the Atacama Desert on public lands owned by the government of Chile, under a long-term concession. Construction is expected to be completed in the summer of 2016.

Conejo Solar has a 22-year power purchase agreement (PPA) with Minera Los Pelambres, an affiliate of Antofagasta Minerals, for roughly 65% of the project's output. The project will connect to the Sistema Interconectado Central (SIC) grid system.

Mike Garland, president and chief executive of Pattern Development, said the company was expanding into the solar market with one of the largest solar projects in Latin America.

“Solar power is an excellent fit with our wind business that allows us to leverage our extensive development expertise. In addition to our El Arrayán wind facility, the largest in Chile, we now have a strong platform and an exciting pipeline of projects for future growth in the country.

“When combined with our recent Japanese solar project additions, we are making a significant step to diversify into solar on a global basis."

China Sunergy signs off on EPC deal to develop 14.5MW PV plant in Philippines

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  The site is slated to become operational by the first quarter of 2016. Image: China Sunergy

Solar cell and module manufacturer China Sunergy has announced that its subsidiary, engineering, procurement, and construction (EPC) service provider CSUN-Solar International Limited, has signed off on an EPC deal with green power developer YH Green Energy Incorporated to construct a 14.5MW PV installation in the Philippines. 

The development of the project is slated to begin in the third quarter of 2015, and is expected to completed and operational by the first quarter of 2016.

Tingxiu Lu, chairman and CEO of CSUN, said: “We are delighted to cooperate with YH Green Energy on the construction of the solar power project. We believe that this transaction demonstrates our solar project experience, expansion in the south-east Asia market as well as our capability of providing solar energy solutions on a global basis, which positions us well in the steady growth of green energy industry in the years to come."

Foresight says UK ‘remains an attractive market’, pursues 300MW pipeline

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  The Kencot project, part of Foresight's solar portfolio. Source: Foresight.

London-based asset management group Foresight Solar Fund has said the UK “remains an attractive market” despite recent policy changes and confirmed it will pursue a 300MW pipeline in the second half of this year.

On Wednesday Foresight revealed that its existing portfolio of 263MW performed 7.4% above expectations during the six-month period ended 30 June, resulting in total generation of 131GWh and H1 revenues of £14.9 million (US$23.3 million).

Profit for the period reached £5.38 million (US$8.40 million), however the company did note that it expects the recent removal of the climate change levy (CCL) exemption for renewable energies to reduce its Net Asset Value – £277.9 million (US$433.9 million) as of 30 June – by 3%.

Chancellor George Osborne’s decision to remove the CCL exemption, coupled with more recent proposals to scrap or reduce other subsidy support for solar PV, has lead to increasing concern over investor confidence in the UK but Alexander Ohlsson, chairman at Foresight Solar Fund, believes the market is still an attractive one.

The company has outlined a pipeline of assets with a total generation capacity of 300MW that it is to pursue over the next six months of the year, having last week extended its acquisition by an additional £30 million (US$46.8 million).

Ohlsson confirmed that Foresight’s immediate pipeline of assets were all either connected before support for projects over 5MW under the renewable obligation expired on 1 April 2015 or qualify for the grace period at a slightly reduceded support level.

“Despite the changes the Board and Investment Manager believe that a combination of the investments made to date and the strong pipeline of potential opportunities currently being considered will continue to provide attractive returns together with the associated benefits of scale to shareholders over the longer term,” Ohlsson said.

Reacting to the results Finlay Colville, head of intelligence at Solar Intelligence, said Foresight remains one of the leading challengers to current market leaders Lightsource and Octopus and estimated that the company could be less selective in the marketplace in the coming months.

“Until now, Foresight has been somewhat selective in its portfolio additions, with approximately 56% coming from four well-defined developer/EPC acquisition routes. With the range of developers and SPV-owning EPCs set to increase between now and 31 March 2016 across the 450 plus sites that are targeting 1.3ROC accreditation, the percentage coming from these four routes may in fact decline, with a greater number of options available to Foresight to further increase its portfolio before April 2016,” he said.

EDF Renewable Energy closes acquisition deal with Dominion

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  Power generated by the plant will be sold to utility Southern California Edison through a 20-year PPA. Image: EDF Renewable Energy

US independent power producer EDF Renewable Energy (EDF RE) has closed the sale on the 24.3MW Catalina Solar 2 Project — located in Kern County, California — to Dominion.

The purchase and sale deal, announced in September 2014, was closed on 30 June 2015 when the installation of the project was completed.

EDF RE managed the installation throughout the commissioning phase to put the site in service on 22 July 2015. Electricity generated by the plant will be offered to utility Southern California Edison through a 20-year PPA.

REC Solar almost sold-out for 2015

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  REC Solar, part of Chinese investment firm Elkem Bluestar provided bullish business figures for the second quarter of 2015. Image: REC Solar
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  REC Solar said PV module sales reached US$168 million, up 12% from the prior quarter, driven by 130MW of module shipments to the US in the quarter. Image: REC Solar

Singapore-based tier-1 PV manufacturer REC Solar, part of Chinese investment firm Elkem Bluestar provided bullish business figures for the second quarter of 2015. 

REC Solar said PV module sales reached US$168 million, up 12% from the prior quarter, driven by 130MW of module shipments to the US in the quarter, which accounted for 50% of total sales. REC Solar is a key supplier to SolarCity, which posted 189MW of installations in the quarter, up from 153MW in the first quarter of 2015. 

However, other US customers across residential, commercial and utility-scale segments also contributed to the sales increase in the country which was up 44% from the previous quarter. 

Talking to PV Tech, Luc Graré senior vice president, sales and marketing, EMEA and South America said, “We are almost fully-booked for Q3 and Q4 [2015] and much more demand than we can manufacturer, especially for our 72-cell modules primarily for the US market. 

The company stated that it had secured 818MW of module shipments into the US in 2015 and 2016 and reiterated it would complete its capacity expansion to 1.3GW by the end of the year. 

REC Solar remains bullish on the US market post ITC reductions at the end of 2016, noting that both residential and commercial segments were anticipated to grow further. 

“There may be some dip in demand in the US post ITC but our thinking is this will not be big. The emergence of new forms of low cost capital after the ITC reduction and continued cost reductions should support further growth,” added Graré, and reinforcing SolarCity’s management view of the US residential market after the ITC reduction. 

REC management said in a statement that it expected annual global module installations to reach around 58GW in 2015, an increase of 30% compared to 2014.

The company also noted that weaker demand expected in Europe over the next few years, previously its key end-market had enabled the company, despite being capacity constrained to broaden its global market footprint. 

REC Solar said that it was expanding its sales efforts across South East Asia and planning a longer-term approach the key emerging markets in Africa, such as Ghana, South Africa and Kenya, while Japan remained an important secondary market. 

The company said that it had secured 35MW of module supply deals in Thailand and accounted for 78% of REC’s total sales in APAC in the second quarter of 2015.

Graré told PV Tech that the company was still in site selection mode for its next capacity expansion, though expected the company to add around 400MW of new capacity when the location and timing of the expansion is decided. 

The key market demand driver is expected to remain in the US for the eventual capacity expansion. 

ET Solar releases AC PV module with integrated ultra-thin microinverter

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  The AC modules are using NEP’s BDM-300 microinverters, which is said to be only 25mm in thickness, enabling it to fit flush in the top right-hand corner of the backside of the module.

PV manufacturer ET Solar is launching a new multicrystalline AC module with a new ultra-thin integrated microinverter from Northern Electric and Power (NEP). 

ET Solar said it was showcasing the new module at PV Japan 2015.

The AC modules are using NEP’s BDM-300 microinverters, which is said to be only 25mm in thickness, enabling it to fit flush in the top right-hand corner of the backside of the module. 

Patrick Guo, Vice President of ET Solar said, "With NEP's cutting-edge technologies and industry-leading solar inverters, our new generation AC modules will play a very meaningful role in the Japanese PV market."

Mr. Nakamura, CEO of NEP Japan added, "Japan's residential market is huge and still growing. Micro inverters do not have uninterrupted high DC voltage, while other inverters have uninterrupted high DC voltage on roofs all the time. Safety is always our first concern. NEP's micro inverter has been certified and can be sold throughout Japan.”

The Japanese residential market remains attractive due to its high FiT, however leading Japanese PV manufacturers have been struggling to retain market share in the last 12-months due to increased foreign competition and grid connection restrictions for large-scale ‘mega solar’ projects in certain regions of the country. 

Kyocera expects improving solar business profitability despite revenue decline

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  Kyocera’s Applied Ceramic Products Group, which houses its solar operations, had first quarter sales of 52,514 million yen (US$422.2 million), down 2.4% from the prior year period. Image: Kyocera

Japanese electronics firm Kyocera Corporation reported a small but consistent decline in PV sales in the first quarter of its 2016 financial results. 

Kyocera’s Applied Ceramic Products Group, which houses its solar operations, had first quarter sales of 52,514 million yen (US$422.2 million), down 2.4% from the prior year period. 

However, profits increased due to cost reduction measures, according to the company, resulting in a reported profit of 3,581 million yen (US$28.7 million). 

Applied Ceramic Products Group sales in the quarter declined compared with the previous first quarter due to weaker solar energy business for the public and commercial sectors primarily in Japan. 

Overall, Kyocera expects the Applied Ceramic Products Group to have FY2016 sales of 247,000 million yen (US$1.98 billion) down 11% from the previous year. Profit guidance of 19,000 million yen (US$152.7 million) for the financial year equates to a 500% increase of the previous year. 

JA Solar appoints outside specialist to advise on founder’s de-listing petition

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  JA Solar has appointed an outside financial advisor and legal counsel to advise on the petition by its chairman and CEO, Baofang Jin to take the company private and de-list from the NYSE. Image: JA Solar.

Financials

• SOL
  NYSE
  1.31
  -0.01 (-0.76%)
  4:02PM EDT

Major PV manufacturer JA Solar has appointed an outside financial advisor and legal counsel to advise on the petition by its chairman and CEO, Baofang Jin to take the company private and de-list from the NYSE. 

The special committee of its board of directors, fronted by two of JA Solar’s independent directors has appointed the firms of Houlihan Lokey (China) Limited as its financial advisor and Gibson, Dunn & Crutcher LLP as its legal counsel. 

JA Solar has not provided any timelines to which a decision will be made and reiterated that any definitive agreement on the proposal is not guaranteed. 

SunPower guides 2015 revenue 50% lower than previous year

•  
  SunPower expects full-year 2015 GAAP revenue to be around 50% lower than in 2014, due to the impact of establishing its JV yieldco vehicle with First Solar.
•  
  Second quarter GAAP revenue was below market expectations at US$381 million, compared to US$440.9 million in the first quarter of 2015. Gross margin (GAAP) dropped to 18.6%, down from 20.6% in the prior quarter.
•  
  The company guided 2015 GAAP revenue of US$1.50 billion to US$1.70 billion, down 50% at the low point of guidance, compared to 2014 GAAP revenue of US$3.027 billion.

Financials

• SPWR
  NASDAQ
  25.66
  +0.55 (2.19%)
  4:15PM EDT

Major PVEP (Photovoltaics Energy Provider) SunPower expects full-year 2015 GAAP revenue to be around 50% lower than in 2014, due to the impact of establishing its JV yieldco vehicle with First Solar. 

After the IPO of 8point3 Energy Partners, SunPower has for the first time this year provided full-year guidance. 

The company guided 2015 GAAP revenue of US$1.50 billion to US$1.70 billion, down 50% at the low point of guidance, compared to 2014 GAAP revenue of US$3.027 billion, up from US$2.507 billion in 2013. Gross margin for the year was guided at between 10 to 12% and a net loss per diluted share of US$2.35 to US$2.05.

Capital expenditure was also lowered from previous guidance of US$300 million to US$350 million to a range between US$250 million to US$300 million in 2015. 

Remaining capacity constrained, SunPower guided full-year module deployments of 1.25GW to 1.3GW for 2015, compared to PV Tech estimates of 1.3GW in 2014 and 1.03GW in 2012.

Second quarter GAAP revenue was below market expectations at US$381 million, compared to US$440.9 million in the first quarter of 2015. Gross margin (GAAP) dropped to 18.6%, down from 20.6% in the prior quarter. 

SunPower noted in an earnings call that it remained at full production utilisation rates and expected the new Fab 4 to produce around 225MW of solar cells in 2016. 

‘Meaningful megawatts’ from Fab 4 were said to be expected in the first quarter of 2016, compared to previous stated expectations of Fab 4 operating by mid-2015.

The fab was said to be coming online ‘later this year,’ according to management.

The company expects third quarter GAAP revenue to be in the range of US$400 million to US$450 million and have deployed between 300MW to 330MW.

The company said that it was raising its EBITDA guidance range for 2015, originally given at its Analyst Day event last November due to the positive impact of the yieldco. 

SunPower expects EBITDA to be in the range of US$425 - US$475 million, compared to US$400 - US$450 million. 

Spain environment ministry approves Juwi’s 450MW PV project plans

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  Juwi: The latest approval 'is just an intermediate step in the process – although an important milestone.' Image: Juwi

Spain’s Ministry of Environmental Affairs has approved a 450MW PV project, which Germany-based renewable energy firm Juwi plans to develop in Mula, in the the country's Murcia region.

The development would cover 1,088 hectares, and require a further EUR450 million (US$499 million) investment from Juwi.

When announced in May 2013, the project was assigned ‘strategic’ status by the government of Murcia in order to cut in half the time needed to obtain the necessary authorisations. The project was expected to create 200 jobs during the design phase and more than 1,000 jobs during construction and engineering.

A Juwi spokesman told PV Tech that the latest approval “is just an intermediate step in the process – although an important milestone”.

He added that the next major step is to gain administrative authorisation and project approval from the Ministry of Industry. Juwi hopes to receive these specific approvals by the first quarter of 2016.

The spokesperson added: “We have been busy working on the project since 2012 and hope to have received all approvals by Q4 2016."

The news comes after difficult conditions for the solar industry in Spain.

Back in January 2014, Juwi announced that it would pull out of its Spanish operations and cut a total 80 jobs in Europe as part of restructuring efforts.

Meanwhile, the Spanish government has introduced a range of punititive retroactive policies targetting solar installations receiving the country's feed-in tariff and other forms of support. The most recent, in June, was a proposed “sun tax” on the use of batteries for residential self-consumption of solar energy in Spain which would be punishable by a fined double that for leaking radioactive waste. However, in less than a week, more than 180,000 Spanish citizens signed a petition against plans.

It is understood the Murcia project will be built without any FiT support, instead competing in the open market with other generation technologies.

Ecosolifer planning heterojunction cell module assembly plant in Brazil

• 
  An initial investment in the assembly plant was said to be around US$8.7 million, indicating small-scale module production.

Swiss/Hungarian silicon thin-film equipment and technology firm Ecosolifer has been reported to be planning an 80MW module assembly plant in Brazil, using its proprietary amorphous silicon deposition technology on monocrystalline wafers produced at its plant in Csorna, Hungary. 

The Bloomberg report reveals that the company has yet to decide a location for the assembly plant and the heterojunction cells would be supplied to the assembly beginning in April 2016. 

An initial investment in the assembly plant was said to be around US$8.7 million, indicating small-scale module production. 

The report cites Bruno Zacharias, head of Ecosolifer’s operations in Brazil as wanting to be the first to produce solar cells in Brazil. 

EcoSolifer has claimed on its website to have developed deposition process on both sides of monocrystalline wafers capable of producing conversion efficiencies above 20%. 

SunPower to develop 100MW plant in Boulder City, Nevada

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  The plant is expected to produce enough energy to power 15,000 homes. Image: SunPower

Solar panel developer and manufacturer SunPower has signed off on a 20-year power purchase agreement (PPA) with NV Energy to develop a 100MW PV plant in the Eldorado Valley in Boulder City, Nevada.

Tom Werner, CEO and president of SunPower said: "Today, power generated from solar plants is cost-competitive with power from traditional, fossil fuel burning plants – and becoming more cost-competitive every day.

“Increasingly, utilities are adding solar to their energy mix to ensure their customers are taking advantage of the reliable and emission-free power of the sun. We are pleased to partner again with NV Energy to enable more Nevada homes and businesses to take advantage of the state's abundant solar resource."

The installation, titled "Boulder Solar," is expected to create 200 jobs during its development, with a completion date set before the end of 2015 and commercial operation slated for 2016.

Once completed, the plant will produce enough energy to power 15,000 homes — based on estimates calculated by the Solar Energy Industries Association.

SunPower acquired the project from KOMIPO America — a subsidiary of Korea Midland Power — earlier this year. KOMIPO America will still take part in the construction and maintenance of the plant, while the PPA with NV Energy is still subject to approval by the Nevada Public Utilities Commission.

Comprised of SunPower Oasis Power Plant systems, the site is estimated to offset nearly 192,000 tonnes of CO2 annually — the equivalent of removing 740,000 cars from the road over the next 20 years.

Solect Energy hits 20MW in commercial-scale projects

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  Solect's 20MW of PV projects serve as the equivalent of taking 3,200 cars off the road. Image: Jeremy Levine/Flickr

Massachusetts-based PV project developer Solect Energy announced that it has reached 20MW of solar power through over 150 finished commercial-scale projects — highlighting the company’s focus on delivering solar solutions to small and medium-sized businesses and groups across “The Bay State.”

Ken Driscoll, founder and CEO of Solect, said: “This is an exciting milestone for Solect Energy, which has grown by successfully working with a historically underserved market, small to medium-sized businesses, not-for-profit organizations and municipalities.

“Massachusetts manufacturing companies, commercial enterprises and institutions operate with tight budgets and require customized solutions to gain the maximum return on their capital investments. We are proud that all of our customers view us as a long-term, trusted advisor that will guide them through all phases of the process including feasibility, financing, installation and ongoing system support – with many of these customers coming back to do a second system with us or referring us to their professional network.”

Making up part of Solect’s 150-project portfolio is a 260kW installation on the roof of family-owned apple picking and shipping company Joseph P. Sullivan & Co (JP Sullivan), which, combined with another 99.5kW system on the group’s office building, will help account for over 75% of the company’s electricity needs.

Ned O’Neill, vice president at JP Sullivan, said: “When we first looked at solar with another developer five years ago, the economics did not make sense. However, with today’s financial and tax incentives in Massachusetts, a strong business case emerged.”

In addition, Solect’s 20MW of new projects serve as the equivalent of taking 3,200 cars off the road or cutting down on over 5,500 tonnes of waste sent out to landfill.b

Chile installed 16MW of PV in June

• 
  Figures from Chile’s Ministry of Energy (CIFES) oddly reported a drop in operational capacity of 9MW between April and May. Image: SunEdison

Chile installed 16MW of solar PV in June with operational capacity now standing at 553MW, up from 537MW the previous month.

Figures from Chile's renewable energy research institute Centro para la Innovación y Fomento de las Energías Sustentables (CIFES) oddly reported a drop in operational capacity of 9MW between April and May, but the new figures show a rise in capacity again in June.

Solar now represents 24% of Chile’s renewable energy capacity.

The latest findings show that a 250MW solar plant is also under environmental assessment, as is a 105MW concentrated solar power (CSP) plant.

Meanwhile PV capacity under construction stood at 1.84GW at the end of June, down from 1.98GW at the end of May.

SunEdison’s Vivint buyout reinforces case for SolarCity yieldco – Vishal Shah

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  Vivint Solar's sale to SunEdison and TerraForm Power bolsters the case for a SolarCity yieldco, according to Deutsche Bank analyst Vishal Shah. Image: Vivint Solar.

Deutsche Bank analyst Vishal Shah has said US installer SolarCity could be one of the indirect winners from news that SunEdison and its yieldco, TerraForm Power, are to acquire residential installer Vivint Solar.

Responding to this morning’s announcement of the US$2 billion Vivint Solar buyout, Shah said in a briefing note to investors that the move was “positive” for the solar sector overall.

But he went on to say that it was also positive news specifically for SolarCity, which is one of the few heavyweight US downstream players yet to form a yieldco, despite speculation that it could go down this route.

“SolarCity has talked about evaluating a potential yieldco in future and this acquisition makes that strategy more credible,” Shah said.

On SunEdison and TerraForm Power’s prospects following the deal, Shah was also upbeat.

“This acquisition also accelerates SUNE's [SunEdison’s] presence into the residential solar market where entry barriers are high and profit margins are more attractive. This transaction also reiterates our view that SUNE/TERP [SunEdison/Terraform Power] platform is best positioned to acquire assets due to cost of capital/structure and scale advantages over other players in the industry,” he wrote.

RBC Capital Markets analyst Mahesh Sanganeria took a similar line, writing in a briefing note: “In a first read, we view the acquisition as a positive to SunEdison as it accelerates company’s expansion into the US residential solar market.”

However, off the back of the acquisition news, New York City-based securities firm Faruqi & Faruqi announced it was investigating Vivint Solar’s board for “potential breaches of fiduciary duties” in connection with the sale.

The firm maintained that under the US$2 billion cash and stock sale Vivint stockholders would only receive US$16.50 a share whereas the median share price target is US$20 per share, and could go higher.

Swinerton signs Array Technologies trackers for 1GW US pipeline

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  Array Technologies claims its latest DuraTrack HZ v3 tracker needs no scheduled maintenance over its 30-year lifespan. Image: Array Technologies.

Developer Swinerton Renewable Energy has signed a deal to use the latest trackers from Array Technologies on a 1GW pipeline of US PV plant projects.

The tracker manufacturer announced yesterday that over a dozen utility-scale projects will be built in various regions, using the DuraTrack HZ v3, which Array claims is a “groundbreaking design built to lower the levelised cost of electricity”.

As of June, when a 40MW supply deal for two plants in California was announced, the two companies had worked together on 270MW of solar installations, with yesterday’s announcement therefore representing a significant scaling up of the partnership.

Array Technologies, the solar market’s leader for tracker sales, has seen 3GW of its trackers installed worldwide. The company claims DuraTrack HZ v3 needs no scheduled maintenance over its 30-year expected lifetime and has a 6% power density advantage over rivals.

“Its advancements will allow us to provide the lowest installed cost tracker in the industry,” Swinerton Renewable Energy vice president and division manager George Hershman said of the single-axis tracker.

“ATI’s high reliability and low maintenance costs provide our clients the best overall plant performance. Swinerton is proud to be a long-term partner with ATI and we look forward to successfully delivering our 1GW portfolio together.”

Array Technologies CEO Ron Corio meanwhile talked up the company’s partnership with Swinerton.

“Our partnership is based on a mutual interest to increase the dissemination of solar by lowering LCOE and improving its economic viability. We are honored to work with such a well-respected organisation and believe that the experienced team at Swinerton proves to be a superior asset to the solar industry,” Corio said.

Corio recently said that Array had expanded manufacturing output and increased automation at its production lines in order to meet an expected surge in demand for utility-scale system components as the US solar industry readies itself for the likely scaling down of the investment tax credit (ITC) support in December 2016.

Power optimiser firm Ampt fuels expansion with US$25 million funding round

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  A report out this week - funded by First Solar - appeared to show that utility-scale solar has better economic and environmental impacts than residential, coincidentally based on a study conducted in Ampt's home state, Colorado. Image: First Solar.

US power optimiser supplier Ampt has raised US$25 million to ramp up its production, sales and product innovation, with its optimisers aimed at the commercial and utility-scale PV plant markets.

After securing a Series C funding round worth US$20 million and raising working capital worth US$5 million, the company said yesterday that it was seeking to “support continued growth”. Ampt’s module level power electronics range includes a string DC optimiser, which the company claims can lower PV plant costs.

In a statement given to PV Tech this morning, an Ampt spokeswoman said that as PV panel costs decline, reducing the cost of inverters and other electrical balance of systems (BoS) components is becoming more important, and claimed that adjusting PV power output at the module level could help address this.

“Globally, 60% of deployments are utility scale, which is the fastest-growing segment in solar,” the spokeswoman said.

“PV panels used to be bulk of the cost of PV systems, but now it’s less than 50% – and component costs, such as inverters, make up more of the expense. Ampt’s DC optimisers reduce inverter and electrical BoS costs by up to 50%, while distributing MPP tracking throughout the PV array to deliver more energy.”

An investment firm in Ampt’s home state of Colorado, Bohemian Investments, led the Series C round, while other investors included the family trust of Ampt founder Doug Schatz, who is already a strategic investor in his own company.

Ampt’s optimisers use two patented technologies, String Stretch and Ampt Mode. The company claims both can result in significant savings, for electrical BoS costs and PV inverter costs per watt respectively. Ampt has been looking to broaden its horizons already this year, sending a representative to the PV Expo show in Tokyo earlier this year, spying opportunities in the Japanese market, a belief that appeared to be backed up by the analysis of Cormac Gilligan at IHS, who called Japan a "huge opportunity" for power electronics firms.

In today’s statement the spokeswoman said that the latest funding round was the company’s largest to date and “will be used to drive our global expansion and allow us to continue to innovate – making technology that creates cost reductions for commercial and utility scale PV systems”.  

HydroRevolution to develop solar desalination facility in California

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  Once the site is completed, HydroRevolution will be able to produce enough water for 10,000 homes. Image: HydroRevolution

HydroRevolution — a subsidiary of renewable-energy water reuse system provider WaterFX — has announced plans to develop a commercial solar desalination plant in the Panoche Water and Drainage District, located in California’s Central Valley.

Once the site is completed, HydroRevolution will be able to offer a sustainable water source to water districts by utilising solar energy to change salt water into freshwater.

Aaron Mandell, chairman of HydroRevolution, said: "The demonstration plant proved that we can reliably treat drainage water, and also showed that the treated water is not a waste product; it is a valuable new source of freshwater.  Using a sustainable source of energy to recycle or desalinate water will become a mainstay in regions with water scarcity."

The new plant will be built over 14 hectares of land, with the potential for the site to expand to 28 hectares. The spot that will hold the solar desalination facility makes up just a small fraction of the 2428-hectare area that is used to oversee and reuse irrigation drainage water for the Panoche Water District.

HydroRevolution will be able to produce 5,000 acre-feet of water annually — enough water for 10,000 homes or 809 hectares of cropland.

Dennis Falaschi, manager of Panoche Water and Drainage District, said: "Given the trend of highly uncertain inputs from the Delta, we need to develop a reliable supply of water in the Central Valley. This is a sustainable solution that can provide a substantial amount of additional water. After seeing the results from the demonstration plant by WaterFX, we're eager to get the HydroRevolution plant online quickly and optimistic about seeing others replicate what we're doing here. There is an enormous resource of subsurface water that can be utilized."

New WINAICO modules pass TÜV Rheinland’s IEC certification tests

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  WINAICO has managed to reduce CTM losses to below 1% in its new modules. Image: WINAICO

Taiwanese PV module company WINAICO has completed TÜV Rheinland’s IEC 61215 and IEC 61730 certification tests for its 300 W monocrystalline PERC module.

The completion of these tests signals that the modules are ready for mass production and shipping to all major markets across the globe.

In an effort to cut down on CTM (cell to module) losses, WINAICO implemented PERC technology into its modules, reducing CTM losses to below 1%.

Sascha Rossmann, vice president of global sales for WINAICO, said: “WINAICO has more than 2 years of experience in mass producing PERC solar modules, so it is not surprising for us to be the first in the world to mass produce 300 W 60-cell PERC monocrystalline modules.

“Passing the IEC certification tests with TÜV Rheinland shows we are ready to mass produce and ship the 300 W modules to all major markets worldwide.”

PowerSecure receives US$100 million in utility-scale PV installations

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  PowerSecure plans to expect around US$15 million in revenue from these plants in the fourth quarter of 2015. Image: Chandra Marsono/Creative Commons

PowerSecure International has been awarded US$100 million in new solar plants, including a ground-mounted project for one of the largest investor owned utilities (IOUs) in the United States.

PowerSecure plans to recognise around US$15 million in revenue from these plants in the fourth quarter of 2015 and US$85 million through 2016.

The awards follow US$120 million in utility grade solar plants that were announced in mid-2014 for a large IOU customer, as well as around US$30 million of microgrid and energy storage projects.

Sidney Hinton, chief executive officer of PowerSecure, said: "The solar marketplace remains very active and we are excited to add these new large awards to our growing backlog of utility-scale solar projects and complex microgrid solutions which integrate solar energy. Projects like these new solar awards build on our strong start to 2015 and add to the backlog that is already building for 2016.”

World’s largest bifacial PV plant nears completion in Chile

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  The facility contains 9,180 bifacial PV n-type silicon modules with a nominal peak power of 270Wp each containing BISoN solar cells produced by Megacell. Image: MegaCell

Power systems company Griguol Impianti Elettrici is at an advanced stage of constructing the world’s largest bifacial PV system ‘La Hormiga’ at 2.5MWp capacity in Chile, using technology from Italy-based module manufacturer MegaCell, which is part of Mega Group.

The plant, located in the Valparaíso region, is due for completion in Q3 this year.

Total electricity generation will be around 5.78GWh per year, with the possibility of reaching a levelised cost of electricity (LCOE) value lower than US$59MWh per year, MegaCell claimed.

The facility contains 9,180 bifacial PV n-type silicon modules with a nominal peak power of 270Wp each. They contain BISoN solar cells produced by Megacell.

The modules are mounted on a fixed rack and produced in Carmignano di Brenta factory in Padova, Italy. There are also 240 standard monofacial modules.

The ‘glass-glass’ architecture of the bifacial PV module is expected to guarantee a life span of more than 40 years.

A Chile-based investor is also involved in the project.

Franco Traverso, chairman and chief executive at MegaGroup, said: “We are proud to contribute to the construction of such an ambitious project which has an international renown and [which involves] experienced Italian companies with high innovative capabilities.

“Together with our partner, Griguol Impianti, we will actively contribute to the solar international development and in particular to the Chilean one, which will render Chile the photovoltaic hub of Latin America.”

IBC Solar starts work on Hungary’s largest PV plant

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  The 30-hectare slag heap of the country's largest coal-fired power plant Matrai Erömü will be covered with 72,480 solar modules in a few weeks. Image: IBC Solar

German firm IBC Solar has started working on what is expected to be the biggest solar plant in Hungary with a nameplate capacity of 18.5MWp.

The 30-hectare slag heap of the country's largest coal-fired power plant Matrai Erömü will be covered with 72,480 solar modules within a few weeks, said an IBC statement.

The plant will be able to supply electricity to around 1,000 households per year.

IBC solar, along with Romania’s EnergoBit Group and Hungarian company Wire-Vill Energetics, are responsible for the development, procurement and construction of the plant.

A six-week test operation of the plant will begin in August 2015

In January, the Hungarian government imposed an import tax on solar panels claiming the move is necessary on environmental grounds in a move that was condemned by the European Photovoltaic Industry Association (EPIA).

PDO, GlassPoint Solar to develop solar thermal plant in Oman oilfield

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  Steam generation is expected to begin at the site in 2017. Image: Glasspoint Solar

Petroleum Development Oman (PDO) — the largest generator of oil and gas in Oman — and solar enhanced oil recovery (EOR) company GlassPoint Solar has announced its mission to develop one of the largest solar plants in the world.

The project, called Miraah, will stand as a 1,021MW solar thermal plant in South Oman, utilizing the sun’s rays to generate steam. The steam will then be used in thermal EOR to withdraw oil from the Amal oilfield.

Once completed, Miraah will dole out the greatest peak energy output of any solar plant in the world. It is projected to save 5.6 trillion British Thermal Units (BTUs) of natural gas per year.

Raoul Restucci, managing director of PDO, said: “PDO is proud to lead the industry by deploying solar-powered oil production at an unprecedented scale and level of efficiency. The project will provide a significant portion of the steam demand at Amal and is an important part of PDO’s production plans.

“The use of solar for oil recovery is a long-term strategic solution to develop PDO’s viscous oil portfolio and reduce consumption of valuable natural gas, which is needed elsewhere to diversify Oman’s economy and create economic growth. It also will displace diesel and higher carbon intensive power generation and oil burning in future thermal projects.

“PDO has been a pioneering force in EOR for a number of years and it will play an increasingly important part in the Company’s portfolio, accounting for around a third of our production by 2023.”

The full-scale installation will be comprised of 36 glasshouse modules — with the total project area spanning an swath of land equivalent to over 360 football pitches.

Restucci added: "PDO awarded GlassPoint the contract based on the strength of our successful solar steam pilot, which has exceeded expectations for reliable operations and steam delivery for the past two years. GlassPoint’s proven track record propelled us toward this historic project that will be over 100 times larger.”

At this time, the project is expected to break ground in 2015, with steam generation beginning in 2017. Once developed, it will also reduce CO2 emissions by over 300,000 tonnes annually.

Rod MacGregor, president and CEO of GlassPoint Solar, noted: “The oil and gas industry is the next major market for solar energy. It takes a tremendous amount of energy to produce heavy and viscous oil, with a typical oil field consuming the same amount of energy as a small city. PDO is the global leader in oil and gas innovation and the first to realise the value of using solar to replace traditional fuel sources to generate steam for EOR."

The top process used in extracting oil is steam flooding, an EOR method in which steam is sent into a reservoir in order to heat up the oil and lower its viscosity, making it much easier to pump it out of the ground. GlassPoint’s solar EOR method creates steam from solar energy, lowering an oilfield’s gas consumption by up to 80%.

Restucci stated: “This project has the potential to make Oman a world centre of excellence for solar EOR with obvious benefits in terms of job and training opportunities for Omanis, building a robust Omani supply chain and attracting further foreign investment, whilst building a reliable and sustainable proposition for solar EOR worldwide."