GCL New Energy gets approval to issue US$245 million green bond

GCL New Energy gets approval to issue US$245 million green bond

http://bit.ly/2luNIPF

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In the first half of 2016, GCL New Energy operated 68 solar power plants in China with a total capacity of approximately 2,735MW. Image: GCL

In the first half of 2016, GCL New Energy operated 68 solar power plants in China with a total capacity of approximately 2,735MW. Image: GCL

China-based PV project developer GCL New Energy said that the Shenzhen Stock Exchange has not objected to its proposed issuing of a green bond.

GCL New Energy had previously announced plans for a US$245 million green bond that would enable the company to reduce debt and continue to build PV power plants.

The green bonds would be for three years, although the company said that issue process may or may not proceed. The non-public issuance of the green bonds is through its subsidiary, Suzhou GCL New Energy Investment Company.

In the first half of 2016, GCL New Energy operated 68 solar power plants in China with a total capacity of approximately 2,735MW.

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February 28, 2017 at 06:24AM

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LM Wind 2016 revenue and profit soar ahead of closing of GE deal

LM Wind 2016 revenue and profit soar ahead of closing of GE deal

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Profits and revenue surged in 2016 at LM Group, the parent of LM Wind Power, ahead of the closing of the acquisition of the Danish wind rotor blade manufacturer by US industrial giant GE.

LM, which makes blades for many of the world’s top wind-turbine suppliers, last year posted a 41.2% increase in revenue to €1.059bn ($1.121bn), mainly due to higher volumes, and the inclusion into its 2016 figures of Brazil, which previously was not consolidated, as well as a new plant in India.

The company had 68% rise in earnings before interest, taxes, depreciation and amortisation (Ebitda) to €174.3m, while full-year net profit soared from €5.9m in 2015 to €51.7m on higher sales and better operational performance.

GE last year unveiled a deal to buy-out the controlling stake in LM held by UK private-equity firm Doughty Hanson, in an acquisition with potentially significant consequences for the global wind supply chain. LM, which operates 13 factories on four continents, counts many of GE’s turbine-supplying rivals among its customers, including Siemens/Gamesa, Nordex and Adwen.

The acquisition is slated to close during the first half of 2017, GE has earlier said.

It is part of a remarkable M&A frenzy in the global wind industry, following acquisitions or mergers between GE and Alstom; Siemens and Gamesa; Nordex and Acciona; and Vestas and O&M specialists UpWind and Availon. Nordex earlier this year also announced it will buy Danish rotor blade pioneer SSP Technology.

LM Wind to open French offshore blade plant in Cherbourg


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LM Wind earlier in February announced it will build a new offshore blade factory in Cherbourg, France, and signed a supply deal with GE.

Construction of the new plant that will be able to make LM’s 88.4P blade that is to be used off France by Adwen’s 8MW turbine is scheduled to begin next month, with production expected from June 2018.

The announcement of the new blade factory in France is not without political risk.

Marine Le Pen, the candidate for the French presidential elections, has promised to impose a moratorium on all new wind power in the country in case she gets elected.

Le Pen according to opinion polls currently is front-runner for the first round of the presidential race in April. Although she is seen as losing in a likely run-off in May, political experts don’t completely discard a possible victory by the right-wing populist candidate.

LM Wind didn’t want to comment on political questions when asked by Recharge.

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February 28, 2017 at 08:33AM

HT-SAAE in production with 21.2% mono-PERC cells and 300W modules

HT-SAAE in production with 21.2% mono-PERC cells and 300W modules

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HT-SAAE also said that the HyperC module featured 5 busbar cell technology and high specification encapsulation. Image: HT-SAAE

HT-SAAE also said that the HyperC module featured 5 busbar cell technology and high specification encapsulation. Image: HT-SAAE

China-based high-efficiency monocrystalline module producer Shanghai Aerospace Automobile Electromechanical Co (HT-SAAE) has launched several new products that include a 60-cell 300W module with a cell efficiency of 21.2% that is in production. 

The ‘HyperC’ PV module series is a step-up from its ‘HIGHWAY’ monocrystalline modules that had came with a 280W performance, a 7% increase per square meter, and a claimed 4.7% reduction in BOS (Balance of Material) per Watt. The new module was said to have passed anti-ammonia gas test, anti-salt mist test, anti-dust and anti-PID tests.

HT-SAAE also said that the HyperC module featured 5 busbar cell technology and high specification encapsulation. 

The company highlighted several new high-efficiency modules that are being showcased at PV Japan in Tokyo this week. 

Specific to the Japanese market and small area roofs, HT-SAAE has also developed at 50-cell HyperC module to accommodate small-area residential rooftops and the maximization of rooftop space that still provides 250W individual module performance capability.

At PV Japan, HT-SAAE is also showcasing its ‘Hyper Black’ multicrystalline PV module series that are fabricated with diamond wire saws and a new generation of metal-assisted chemical etching (MACE) texturing for PERC cell architecture. The result is cell efficiencies of 19.8% and the output power of 280W in a 60-cell format.

The company has also launched an upgraded version of the ‘Milky Way’ bifacial N-type PERT monocrystalline module that adopts a 5BB cell format, providing a 10W increase in power output compared with its first generation Milky Way modules with 4BB connect technology.

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February 28, 2017 at 05:24AM

The Global Energy Storage Opportunity – free report available now

The Global Energy Storage Opportunity – free report available now

http://bit.ly/2m0oeNq

A special online-only supplement magazine that looks at some of the exciting recent developments in all segments from microgrids and residential to grid-scale and commercial. Credit: Solar Media

A special online-only supplement magazine that looks at some of the exciting recent developments in all segments from microgrids and residential to grid-scale and commercial. Credit: Solar Media

From PV-Tech’s publisher comes The Global Energy Storage Opportunity, a special online-only supplement magazine that looks at some of the exciting recent developments in all segments from microgrids and residential to grid-scale and commercial.  

Free to download, The Global Energy Storage Opportunity comes from the Solar Media editorial team and a stellar range of guest contributors, including Fraunhofer ISE, Navigant Research and S&C Electric.

It looks at 15 different products from big names like sonnen, Samsung SDI, Mercedez-Benz Energy and of course the ubiquitous Tesla, taken from the news pages of Energy-Storage.News, technologies including vehicle-to-grid, energy storage software and bromine flow batteries.

For the financially-minded, there’s a feature on why some big solar investors are so far holding back from plunging into energy storage, despite an obvious desire to do so and a fascinating in-depth Q&A with Nancy Pfund of DBL Partners, who probably isn’t yet tired of being described as one of Tesla’s earliest backers – and SolarCity too. Speaking of Tesla (again), there’s also a look at how the first Powerpack project in Europe was financed and developed.

In all, there’s a wealth of material on offer and in addition to informing we hope it will also serve to whet the appetite of those of you who will be joining us at the Energy Storage Summit, in London on 28 February and 1 March.   

To download the special report for free, click here.

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energy-storage.news, dbl, samsung, sonnen, mercedes, tesla, energy storage summit

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February 27, 2017 at 07:51AM

JinkoSolar guides astonishing 9GW of module shipments for 2017

JinkoSolar guides astonishing 9GW of module shipments for 2017

http://bit.ly/2l6Np1e

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JinkoSolar has guided 2017 PV module shipments to be in the range of 8.5GW and 9.0GW, a potentially astonishing sequential growth rate after reporting 6.65GW of module shipments in 2016, an increase of 47.5% from 4.5GW in 2015. Image: JinkoSolar

JinkoSolar has guided 2017 PV module shipments to be in the range of 8.5GW and 9.0GW, a potentially astonishing sequential growth rate after reporting 6.65GW of module shipments in 2016, an increase of 47.5% from 4.5GW in 2015. Image: JinkoSolar

Leading ‘Silicon Module Super League’ (SMSL) member JinkoSolar has guided 2017 PV module shipments to be in the range of 8.5GW and 9.0GW, a potentially astonishing sequential growth rate after reporting 6.65GW of module shipments in 2016, an increase of 47.5% from 4.5GW in 2015. 

JinkoSolar reported total revenues for 2016 of RMB21.40 billion (US$3.08 billion), an increase of 38.5% from RMB15.45 billion for the full year 2015. Total revenues including electricity revenue from discontinued operations were RMB22.35 billion (US$3.22 billion), an increase of 39.0% from RMB16.08 billion for the full year 2015. 

Kangping Chen, JinkoSolar’s Chief Executive Officer commented, “I am pleased to announce a strong quarter to finish out the year with module shipments hitting 1,733 MW and 6,656 MW in the fourth quarter and full year 2016, respectively. I am proud to say that this puts us firmly in the position as the largest module supplier globally. Total revenues during the quarter hit US$737.6 million and US$3.08 billion for the whole year. While market sentiment is gloomy overall, we remain optimistic about the global demand in 2017.”  

“We successfully complete the spin-off process of Jinko Power’s project business which generated US$145.2 million in investment gain for JinkoSolar and strengthened our balance sheet by cutting debt to US$892 million from US$2.1 billion. In January 2017, we further cut our debt by repurchasing almost all of our convertible notes due in 2019 at holders’ put option. These initiatives have increased our corporate flexibility and reinforced our financial position which will allow us to take advantage of more opportunities in 2017.” 

More updates to follow. 

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jinkosolar, c-si manufacturing, pv modules

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February 27, 2017 at 08:21AM

Work starts on 1GW UK-France link to share renewable power

Work starts on 1GW UK-France link to share renewable power

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Work has started on installing a new 1GW power link between the UK and France – a project that could help spur trading of renewable power as part of a future European ‘supergrid’.

ElecLink, a unit of Channel Tunnel operator Eurotunnel, is to invest around €580m ($614m) on the 69km link – the first interconnector project to be commissioned between the UK and France since 1986. 

Germany’s Siemens has won a €315m order to construct the HVDC converter stations in the UK and France at both ends of the DC power line. 

“With this new interconnection we support [the implementation of] efficient market trading arrangements and the expanded integration of renewable energy sources,” said Ralf Christian, chief executive of Siemens Energy Management Division.

EU energy package is first step in a long journey


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A consortium including infrastructure group Balfour Beatty and Prysmian has been awarded the €219m contract to install the 65km cable through the Channel Tunnel.  The project could support the development of Europe’s supergrid, a potential future project that would lower the cost of power by allowing the entire region to share costs of creating and distributing energy.

The link is scheduled to start commercial operations in early 2020.

The UK and French governments are supporting the interconnector, which has been recognised a Project of Common Interest by the European Commission.

Its construction comes as the UK and EU prepare to wrestle with the implications of Brexit on Europe’s future energy market and the continent’s wider renewables ambitions.

UK industry and energy minister Jesse Norman claimed the British government is strongly supportive of greater electricity trading with Europe in order to lower household bills and deliver energy security as part of the UK’s modern industrial strategy.

“We’ve created the right environment for cooperative projects like ElecLink to attract investment and compete in the market without needing financial support from our tax and bill payers,” said Norman.

“As markets expand it makes sense for us to sell energy we don’t need at a higher price to the French and to buy energy at a lower price when we do need it.  That ends up with a bigger market, which is more secure from our point of view and also less expensive for consumers.”

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February 27, 2017 at 08:24AM

Shell eyes role for renewables alongside African oil & gas

Shell eyes role for renewables alongside African oil & gas

http://bit.ly/2lOhp0U

Oil supermajor Shell is looking to integrate renewables into its operations across sub-Saharan Africa, a senior company official said.

Shell’s new business development manager for the region, Tayo Ariyo, urged the wider oil and gas industry to invest in renewables “as a means of providing access to energy in remote locations”.

“As an industry we must focus on developing lower carbon solutions, and we must rapidly invest in renewables, like solar, hydro and wind,” said Ariyo. “This will require the development of innovative new partnerships and business models that seamlessly integrate renewables into the energy mix.

“The sort of project we should be doing more of in Africa is what Shell currently has in Oman – a hybrid gas-solar project that Shell implemented in the Amal oilfield,” she said during a speech at International Petroleum Week in London.

Oman to build 1GW solar plant to aid oil extraction


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In 2012, Shell invested in GlassPoint Solar, a US company that uses solar-thermal technology to aid recovery of hard-to-extract oil deposits. GlassPoint’s thermal enhanced oil recovery (EOR) system is designed to produce the steam needed to help get at heavy oil that is too thick to be pumped to the surface using conventional techniques.

A 7MW pilot of the system was first deployed by Petroleum Development Oman (PDO) at a site in the Middle Eastern sultanate. PDO later unveiled plans for the giant 1.02GW Miraah solar-thermal plant that was designed to aid oil extraction at the Amal field from 2017.

“Gas use was reduced by 80% in the oilfield activity, which means we could use what we saved somewhere else,” said Ariyo.

Now Shell is eyeing similar projects to power up its African oil projects, although Ariyo gave no details about where and when this technology could be implemented.

She said: “Gas and renewables is the ideal partnership to address the challenge brought on by increased energy demand. In order to have success, we need new trusted partnerships between governments and industry in order to ensure access to energy is a reality for Africans in Africa.”   

Renewables a must-have as shadows lengthen over Big Oil


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“Therefore, as an industry, we need to continue to make substantial investments across all sectors, including oil and gas, and renewables. But we will have to do all this while mitigating climate change issues,” she said. 

Shell – which is also currently active in the offshore wind sector – is not the only oil supermajor to increasingly consider clean energy projects. Most of its oil rivals have acknowledged that the energy picture is changing, as recent energy outlooks have boosted the forecast for renewables in the long term.

BP claims to own the largest renewables business of any major international oil and gas company, but the company has not brought a new wind farm online since 2012.

However, the oil giant is reportedly considering repowering up to 400MW of its 2.3GW of operating US wind capacity to take full advantage of the production tax credit.

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February 27, 2017 at 09:06AM