A-Power (APWR) To Work With U.S. Renewable Energy Group and American Nevada Group On Wind Turbine Production And Assembly Plant
A-Power Energy Generation Systems just announced that will work with US Renewable Energy Group and American Nevada Group to build a wind turbine production and assembly plant in Nevada. Once completed, the plant will be capable of producing 1,100 megawatts worth of advanced wind turbines each year.
The plant will also bring approximately 1,000 long-term jobs to Nevada, plus jobs generated by construction.
In a press release, John Lin, A-Power’s Director and COO, commented on the news:
“We are committed to clean energy development and this partnership, which will allow us to expand our presence in the American renewable energy sector and create over a thousand jobs in Nevada. A-Power highly values the opportunities in renewable energy in America and this state-of-the-art facility will be our first major manufacturing plant in the United States.”
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SunEdison (WFR) To Construct 72 MW Italian Solar Power Plant
MEMC Electronic Materials just announced that its division SunEdison has been selected to build a 72 MW solar power plant in Rovigo, Italy. The project is expected to be the largest European solar power plant. It is expected to begin producing power in the second half of this year, and to be completely finished by the end of 2010. SunEdison is partnering with Banco Santander for financing and expects to line up other financial partners as well.
In a press release, Carlos Domenech, President of SunEdison, commented on the news:
“SunEdison is focused on enabling the growth of global solar markets through strong capabilities in project finance, engineering, low-cost procurement and operations and maintenance services.”
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SunPower (SPWRA) Gets 200MW Order From Southern California Edison
SunPower just announced that it has been awarded a contract to provide SunPower T5 Solar Roof Tiles to generate up to 200 megawatts of solar energy. With this contract, SunPower will provide 80 percent of the energy needed for Southern California Edison’s solar PV installation program, in which the company plans to install, own and operate 250 megawatts of solar generating capacity over the next 5 years.
In a press release, Howard Wenger, president of SunPower’s utilities and power plant business group, commented on the project:
“The SCE program reflects the growing value of advanced solar panel technology as a reliable, cost-effective energy resource that can be installed quickly, anywhere and at any scale. SunPower applauds SCE’s commitment to rooftop solar development, which is unprecedented in the utility industry.”
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SunPower (SPWRA) Working With K6 S.a.S To Build 2 Italian Solar Plants
SunPower just announced that it will work in partnership with K6 S.a.S to build 2 1-megawatt PV solar plants in Puglia, Italy. The solar plants are expected to be up and running by August 2010. Sunpower will install its solar panels as well as its SunPower® T20 Tracker, which follows the sun to increase energy production by 30% energy.
In a press release, Luca Bandini, general manager of SunPower Italia, commented on the agreement:
“We are delighted to expand our portfolio of Italian solar power plant projects with these two latest parks we are designing and building for K6. SunPower has leveraged its global power plant experience to offer cost saving enhancements to its T20 Tracker technology, including remote monitoring and control capabilities that enable seamless integration with power plant supervisory control and data acquisition (SCADA) systems.”
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A-Power (APWR) Subsidiary Awarded $1.7 Million Solar Contract
According to this press release, A-Power just announced that its wholly-owned subsidiary, EVATECH, has been awarded a $1.7 million contract by an unnamed a Chinese leading renewable energy company. Under the terms of the agreement, EVATECH will design, build and install one set of photovoltaic solar machines, which it is expected to ship on May 31, 2010. The Chinese company has already made a downpayment.
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Pacific Ethanol (PEIX) Enters Into Agreements With Socius To Satisfy $34.7 Million Of Outstanding Debt With Lyle
Pacific Ethanol just announced that it will be partnering with Socius CG II, Ltd. to satisfy $34.7 million of outstanding debt with Lyles United LLC and its affiliate Lyles Mechanical Co. Under the agreement between the 3 companies, Lyle has agreed to sell the debt to Socius in $5 million segments.In exchange, Pacific Ethanol will provide Socius with free-trading shares of the Company’s common stock. These shares will be provided at a 20 percent discount based on the volume weighted average price of the Company’s common stock over the 5-day trading period immediately following the date when the shares are initially issued. However, Pacific Ethanol states that Socius will not be given any more than 9.99% of the total number of Pacific Ethanol shares that are outstanding.
In a press release, Pacific Ethanol CEO Neil Koehler commented on the agreements:
“We are pleased to have Socius as a new financial partner as we pursue our mission to be a leading producer and marketer of low carbon renewable fuels. This transaction supports our strategy to reduce debt, efficiently operate our production assets, and lower expenses. We believe this puts the Company in a stronger financial position to complete the reorganization of our ethanol plant subsidiaries currently the subject of Chapter 11 proceedings.”
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American Superconductor Corporation (AMSC) Announces Follow-On Order From CSR-ZELRI
American Superconductor just announced that it has received a follow-on order from CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (CSR-ZELRI). The wind turbine core electrical component order, worth $10 million, is the fifth order that CSR-ZELRI has placed with AMSC. AMSC will deliver the components to CSR-ZELRI by the end of the calendar year.
In a press release, Dan McGahn, president and chief operating officer of AMSC, commented on the news:
“CSR-ZELRI has done an excellent job of rapidly scaling its wind turbine manufacturing operation to capitalize on the strong growth of China’s wind industry. This success has led to a quick succession of core component orders, each larger than the last. With five Chinese wind turbine manufacturers who have adopted AMSC Windtec designs either in production or set to enter production soon, 2010 is shaping up to be another record year for AMSC.”
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Yingli Green Energy (YGE) To Expand Manufacturing Capacity
Yingli Green Energy just announced that it will be expanding manufacturing capacity at its Baoding headquarters. The project will involve building PANDA mono-crystalline silicon-based manufacturing lines capable of producing 300 MW per year of mono-crystalline ingots and wafers, cells and modules. The PANDA production lines use technology developed through Project PANDA, Yingli Green Energy’s collaboration with Energy Research Centre of the Netherlands and Amtech Systems, Inc.
To finance the project, Yingli also announced that it has been granted a project loan of RMB 1.5 billion and a working capital credit facility of RMB 250 million by the the Bank of Communications Co., Ltd.
In a press release, Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented on the expansion:
“Shared anticipation of global PV industry growth, the robust flow of orders and inquiries that we have already received in 2010 and our global growth strategy are the main motivations for this strategic capacity expansion plan. We believe this expansion will allow us to meet the increasing demand for our bankable, cost-effective products and further drive down costs through increased cell conversion efficiency and the larger scale of manufacturing. On the Project PANDA pilot line, we have already successfully produced next-generation cells with an average efficiency rate of 18% or higher. Looking ahead, we expect to increase the average efficiency rate to at least 18.5% on the commercial production lines by the end of this year. Combined with the existing 600 MW production capacity in Baoding and the 100 MW capacity under construction in Hainan Province, this new expansion project is expected to bring our total production capacity to 1 GW by the end of 2010. With this expansion in place, we will be better positioned than ever to solidify our leadership in the global PV market.”
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NRG Energy (NRG) To Acquire Texas Wind Farm
NRG Energy just announced that it has signed a letter of intent to purchase the South Trent wind farm, a 101 MW wind farm located near Sweetwater, Texas. Once the Public Utility Commission of Texas approves the purchase, the wind farm will become the fourth onshore plant that NRG owns. All of the power produced will be purchased by AEP Energy Partners under a 20-year power purchase agreement.
In a press release, David Crane, NRG President and Chief Executive Officer, commented on the news:
“South Trent is a proven performer and, as a renewable asset with a long term sales agreement with a highly credible offtaker, is indicative of the type of renewable project in which we are looking to invest in our core markets. We will continue to look both to develop and acquire contracted land-based and offshore wind projects as well as solar and other sustainable technology-based assets where it makes sense as we expand our clean energy portfolio.”
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LDK Solar (LDK) Settles Class Action Lawsuit
LDK Solar just announced that it has settled a class action lawsuit that had been brought against the company in the U.S. District Court of Northern California. The settlement is not yet final but has received preliminary approval from the court.
In the settlement, LDK is not admitting wrongdoing, but the company and its insurance carrier will compensate the class members to the tune of $16 million.
In a press release, Xiaofeng Peng, Chairman and CEO of LDK Solar, commented on the news:
“After more than a two year-period of litigation, LDK Solar believes the settlement is in the best interest of the Company and its shareholders. The resolution of this matter puts the litigation behind us and reduces the Company’s ongoing legal expenses.”
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