Solar Energy News

JA Solar Announces Third Quarter 2009 Results

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:43:00 +0000

SHANGHAI, Nov. 10 /PRNewswire-FirstCall/ -- JA Solar Holdings Co., Ltd. (Nasdaq: JASO), a leading manufacturer of high-performance solar products, today announced financial results for its third quarter ended Sept. 30, 2009.

Third Quarter 2009 Results

Revenue in the third quarter of 2009 was RMB 1.3 billion ($193.3 million), an increase of 119.6 percent from RMB 600.7 million ($88.0 million) reported in the second quarter of 2009 and a decrease of 37.8 percent from RMB 2.1 billion ($310.7 million) reported in the third quarter of 2008. Total shipments in the third quarter were a record 177MW, compared with the second quarter shipments of 77MW, representing a sequential growth of 129.9 percent. Compared with the same period last year, shipment growth was 78.8 percent, up from 99 MW in the third quarter of 2008.

"We are pleased to report the highest quarterly shipments in our company's history, with increasing demand for our products worldwide," said Baofang Jin, JA Solar's chairman and CEO. "Our Q3 results demonstrate many advantages that JA Solar has, including scale, technological leadership, a strong brand, high quality products and a low cost structure, making JA Solar the preferred supplier to many customers," he said.

"We also gained significant market share during the quarter and made further progress diversifying our customer base. JASO is the top choice for companies that are purchasing multiple-megawatts of products in a short time, with requirements for high conversion efficiency at a competitive price," he said.

Total gross profit in the third quarter of 2009 was RMB 220.5 million ($32.3 million), or 16.7 percent, compared with RMB 68.3 million ($10.0 million) or 11.4 percent in the second quarter of 2009 and RMB 458.1 million ($67.1 million) or 21.6 percent in the third quarter of 2008.

Total operating expenses in the third quarter of 2009 were RMB 72.3 million ($10.6 million), compared with RMB 177.4 million ($26.0 million) in the second quarter of 2009 and RMB 24.8 million ($3.6 million) in the third quarter of 2008.

Included in the third quarter of 2009 operating expenses was a non-cash stock-based compensation charge of RMB 11.7 million ($1.7 million), compared with RMB 81.1 million ($11.9 million) in the second quarter of 2009 and a non-cash gain of RMB 17.2 million ($2.5 million) in the third quarter of 2008.

Operating income in the third quarter of 2009 was RMB 148.2 million ($21.7 million), compared with an operating loss of RMB 109.0 million (a loss of $16.0 million) in the second quarter of 2009 and operating income of RMB 433.3 million ($63.5 million) in the third quarter of 2008. Excluding the stock-based compensation charge, the company generated an operating income of RMB 159.9 million ($23.4 million) for the third quarter of 2009.

Earnings per diluted ADS in the third quarter of 2009 were RMB 0.66 ($0.10), compared with net loss per diluted ADS of RMB 1.21 (a loss of $0.18) in the second quarter of 2009 and net loss per diluted ADS of RMB 2.47 (a loss of $0.36) in the third quarter of 2008.

Operating cash flow for the third quarter of 2009 was a positive cash flow of RMB 288.6 million ($42.3 million), compared with RMB 194.7 million ($28.5 million) in the second quarter of 2009 and a negative cash flow of RMB 458.1 million ($67.1 million) in the third quarter of 2008.

At Sept. 30, 2009, JA Solar had cash and cash equivalents of RMB 1.7 billion ($256.1 million), compared with RMB 2.2 billion ($329.0 million) at June 30, 2009. The convertible bonds outstanding at Sept. 30, 2009 were RMB 1.7 billion ($253.5 million) and total long-term bank loans outstanding at Sept. 30, 2009 were RMB 680.0 million ($99.6 million). Total working capital at Sept. 30, 2009 was RMB 3.3 billion ($483.5 million).

Fourth Quarter and Full Year 2009 Guidance

"As demand for solar products has improved significantly across multiple geographies, we are seeing robust demand from our customers with improved visibility," said Mr. Jin.

Based on current customer orders, the company expects the fourth quarter of 2009 shipments to be in the range of 170MW to 200MW, and full year 2009 shipments to be in the range of 448MW to 478MW. The nameplate production capacity by year-end 2009 is expected to be 800 MW.

SunPower Completes 1-Megawatt Solar Tracking System at UC Merced

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:42:00 +0000

SAN JOSE, Calif., Nov. 10 /PRNewswire-FirstCall/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced the completion of a 1-megawatt solar power system on the University of California, Merced campus. The university expects the system, which SunPower will finance with Wells Fargo through a sale leaseback transaction, to produce two-thirds of the campus' electricity on summer afternoons, and 20 percent of its annual electricity needs.

"The solar array project exemplifies UC Merced's founding vision to become an international model for sustainable development and environmental stewardship," said Mary Miller, vice chancellor for administration at UC Merced.

The system utilizes SunPower solar panels, the most efficient solar panels on the market, with the SunPower T20 Tracker® system. The T20 Tracker follows the sun's movement during the day, increasing sunlight capture by up to 30 percent over conventional fixed-tilt systems, while significantly reducing land use requirements.

"Colleges and universities in California are seizing the opportunity to help the state meet its growing energy demand and renewable energy goals," said Bill Kelly, managing director, at SunPower. "UC Merced understands the significant return on investment that SunPower systems deliver, and the added value of working with an experienced partner."

According to conversion formulas provided by The Climate Registry, the system is expected to remove more than 45 million pounds of carbon dioxide over the next 30 years. That is equivalent to the emissions displaced from removing more than 3,600 cars from California's roads. Under the terms of a long-term power purchase agreement, UC Merced will be entitled to the renewable energy credits and all environmental attributes associated with the system.

SunPower has more than 550 solar power systems in operation or under contract globally. Other California colleges and universities the company has built solar power systems for include California State-East Bay, Napa Valley College, Ohlone College, Mendocino College and the Los Angeles Community College District.

Treasure Valley Solar Evolves Mobile Solutions with New Strategic Partnership

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:41:00 +0000

BOISE, Idaho, Nov. 10 /PRNewswire/ -- Treasure Valley Solar, LLC entered into a strategic partnership with Zenware, Inc. to bring solar-powered mobile solutions to business and government sectors.

As mobile technology has improved the ability for field employees to work independently, this improvement has increased demands for power in the field.

"We now see companies deploy a rich blend of mobile technologies including PDAs, mobile printers, Bluetooth devices and more to their field workers. As the utilization of mobile devices increases as a part of a company's business solutions, these companies are confronted with a new challenge of keeping those devices charged so field workers can complete their remote tasks without interruption," commented Jody Sedrick, CEO of Zenware, Inc. "While battery capacities have increased with new technology, smaller devices mean that there are still limits on space and weight for the batteries. Having enough power to keep equipment charged when it is in the vehicle with the engine off is critical to the ongoing success of field operations," he continued.

Solar Fleet Elite(TM) by Treasure Valley Solar is a total mobile solar solution that powers mobile devices with clean and renewable energy from the sun. Wayne Whitt, Director of Customer Solutions, elaborated, "We mount solar panels right on the vehicle and link the panel through an advanced power control unit connected to your existing battery. This keeps mobile devices charged without having to idle the vehicle, saving money on expensive gasoline and reducing your emissions."

Treasure Valley Solar's solution takes proven solar technology and applies it to this growing mobile problem for less than the cost of most mobile devices. "We can now create a fully integrated and powered, green solution for our customers," commented Rod Puzey, VP Director of Operations for Zenware, Inc.

Satcon Selected for Largest Urban Solar Power Plant in the U.S.

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:37:00 +0000

BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation (NASDAQ CM: SATC), a leading provider of utility scale power solutions for the renewable energy market, today announced that it has been selected for the 10-megawatt Exelon City Solar photovoltaic (PV) power plant, the nation's largest urban solar power plant, which will be built at a former industrial site in the West Pullman neighborhood on Chicago's South Side. The site, owned and operated by Exelon Generation, was designed and is being constructed by SunPower Corp., a manufacturer of high-efficiency solar cells, solar panels and solar systems.

The 41-acre solar facility will utilize Satcon Prism™, a fully customizable one megawatt medium voltage package complete with factory integrated step-up transformers, switchgear, and electronics. The Prism solutions will connect nearly 32,300 SunPower solar panels to the local utility and efficiently convert the sun's rays into enough clean, reliable electricity to meet the annual energy requirements of up to 1,500 homes per year.

“The Exelon City Solar project demonstrates solar power’s integration as a stable and viable core contributor into one of the country’s largest energy markets,” said Howard Wenger, president, global business unit at SunPower. “This project is a clear example of the unique demands of large scale solar power generation, and required that we design a system that is comprised of the industry’s highest performing and most reliable components. Satcon’s experience and expertise in large scale solar made them the natural choice for us.”

The Exelon City Solar plant will combine Satcon’s Prism solution, designed to deliver the highest levels of energy harvesting, efficiency and system uptime, with SunPower panels, which generate up to 50 percent more power than conventional solar panels and two to four times as much power as thin-film solar technology. The site will also use SunPower® Trackers, solar tracking systems that tilt toward the sun as it moves across the sky, increasing daily energy production by up to 25 percent.

Satcon Prism is built on the foundation of the industry standard setting PowerGate(R) Plus 500kW solar PV inverter platform, the most advanced and field proven large scale inverter solution, with over 400 megawatts delivered since 2005. The solution is delivered complete in an all-climate outdoor enclosure and ready to connect to the PV array and utility grid, enabling rapid installation through a modular prepackaged design.

“We are honored to be chosen as a key partner by SunPower to deliver our Prism solutions to Exelon City Solar," said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Satcon’s solutions have been used on some of the largest renewable energy sites in the world with hundreds of millions of grid connect kW hours delivered to date. Exelon City Solar showcases today’s best in class total system solutions, optimally designed to deliver the highest levels of reliable large scale solar power production.”

Konarka and Arch Aluminum & Glass Announce Unique Solar Curtain Wall Pilot Project

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:36:00 +0000

LOWELL, Mass.--(BUSINESS WIRE)--Konarka Technologies, Inc., an innovator in development and commercialization of Konarka Power Plastic^®, a material that converts light to energy, today announced the company, along with Arch Aluminum & Glass Co., Inc, has launched the first curtain wall pilot project that will integrate Konarka Power Plastic into a wall structure at Arch’s office building in Tamarac, Florida. The solar panels, generating 1.5 kilowatts of power to the facility, are expected to be fully operational by year’s end. The technology leading installation will advance the development of a colored solar glass panel for integration into a wide range of buildings.

“The purpose of this project is to test the performance and robustness of our solar panel solution for a curtain wall application with a variety of glass and window configurations under a wide range of environmental and insolation conditions,” commented Dr. Terri Jordan, vice president of business development at Konarka. “The yielded data and information will guide our development of the first-of-its-kind vision application, a transparent, colored solar glass panel, and we are pleased to launch this first-class pilot installation with Arch.”

The testing facility includes east and south facing walls with both sunny and shadowed areas. The installation is a living laboratory with full modularity including the ability to simultaneously test a wide range of panels under various conditions. The curtain wall is an array of solar panels, glass and aluminum, with a peak output of 40 watts per panel. Yielded data will be shared with architects, building developers and owners as well as alpha and beta field testing customers selected in 2010-2011.

“Integrating ‘active solar glass’ into a wall structure allows us to make use of a typical manufacturing building by giving it the ability to generate its own energy,” commented Arch’s vice president of marketing, Max Perilstein. “This pilot facility and Konarka’s flexible, light-weight solar material are allowing us to move forward in the feasibility and development of a solar solution that will add tremendous energy-producing value to a wall structure.”

In May, the two companies announced product development plans to collaborate on building integrated photovoltaics (BIPV), photovoltaic materials used to replace conventional building materials.

Konarka Power Plastic will be featured in the Exhibition at Greenbuild^® International Conference and Expo, November 10-12, 2009, Arch booth #5434 in Phoenix, Arizona. For more information, visit: http://www.greenbuildexpo.org.

GWS Technologies Announces Development of a 7 Megawatt Solar Farm in Arizona

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:34:00 +0000

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GWS Technologies, Inc. (OTCBB:GWSC), an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, announced today that it is working with Dominion Real Estate Investments, LLC to develop a 36-acre solar farm in Florence, Arizona. The project will cost approximately $28 million.

The company plans to install six megawatts of mono-crystalline fixed solar panels, as well as one megawatt of a concentrating solar power (CSP) system, as a beta test for use in the company’s future projects. Fixed solar panels have no moving parts, collect sunlight and convert it into electricity, while CSP systems use lenses or mirrors and tracking systems to focus sunlight into a small beam which is concentrated onto a photovoltaic surface.

“This project would be one of the largest projects in Arizona and, in conjunction with other projects, gives us 40 megawatts under development, which positions us to be a leader in solar farm development in the Southwest,” said GWS Technologies President Richard Reincke. “Forty megawatts generates enough electricity to provide power to approximately 12,000 homes,” Mr. Reincke added.

The Arizona Corporation Commission has set renewable energy standards mandating that regulated utilities generate at least 15 percent of their power from renewable resources such as solar and wind by 2025.

Premier Power Signs 300kW Contract for Solar Medical Facility in Lakewood, NJ

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:33:00 +0000

EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Premier Power Renewable Energy (OTCBB: PPRW), a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S. and Europe, today announced that it has contracted with Soar Energy Partners, LLC to install a 300kW solar photovoltaic system at the CHE Medical Building in Lakewood, NJ.

The project will utilize the cylindrical thin film technology developed by Solyndra to maximize the use of both direct sunlight as well as diffused light and reflectivity off the medical building’s white roof. The solar system will save the medical center approximately $84,000 per year in utility costs, while generating approximately $190,000 annually in SREC revenue for Soar Energy Partners, LLC. Approximately 325 tons of greenhouse gases will be avoided in year one by using the solar photovoltaic system. Soar was advised on this transaction by Sunleit Partners, a renewable energy advisory firm. Sunleit and Premier Power are currently collaborating on several other project development opportunities.

Dan Czermak, CEO of Soar Energy Partners, stated, “We are pleased to be working with Premier Power on this important project to help the medical center continue its tradition of leadership in the Lakewood community. With Soar Energy Partners owning and operating the solar system they can take full advantage of the tax and renewable energy credits, while the medical center will be able to obtain electricity at a more affordable price than it would otherwise be able to obtain on its own.”

“We are very pleased that Soar Energy Partners selected Premier Power to develop the system for them,” said Stephen Clevett, Premier Power’s Executive Vice President. “Using solar power to assist the CHE Medical Center fulfill its mission to the community, complements our core mission as a company as well. We're very pleased to work with CHE Medical Center, Soar Energy Partners and Sunleit Partners to set a practical example of affordable, sustainable and clean energy for healthcare facilities nationwide.”

China Solar Power Purchases ThinSilicon

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:31:00 +0000

HONG KONG--(BUSINESS WIRE)--China Solar Power (Holdings) Ltd. (“CSP”), a manufacturer of thin film amorphous silicon photovoltaic modules, today announced that it purchased ThinSilicon, Inc., a leading developer of thin film manufacturing process technology based in Mountain View, CA. No financial terms were disclosed.

CSP’s initial manufacturing facility, located in the city of Yantai, China, recently commenced commercial operation. The plant, whose initial configuration will produce a-Si solar panels utilizing production equipment supplied by ULVAC, Inc. of Japan, will have an annual capacity of approximately 32MW once it reaches full production in 2010. The company recently broke ground on its second manufacturing facility, located in Jiangyin, China, and has entered into development and financing agreements with two other Chinese municipalities to build and operate additional production facilities within those cities. Upon completion of manufacturing facilities under construction and currently under development, CSP’s annual production capacity is expected to exceed 500MW, making it by far China’s largest manufacturer of thin film PV modules.

ThinSilicon was founded three years ago and has since developed a unique device and process technology that significantly boosts both panel efficiency and manufacturing throughput. This advanced technology enables modules to convert a greater proportion of the sun’s energy into electricity, allowing thin-film silicon solar modules to approach the efficiency of wafer-based modules at a much lower manufacturing cost. This will enable installations utilizing these modules to compete directly with grid-produced electricity and thereby help reduce greenhouse gas emissions.

“The world must aggressively embrace solar energy to address its growing energy and environmental challenges,” said Charles E. Johnson, CSP’s Co-Founder and Chairman, and former Co-President of Franklin Templeton Investments. “China Solar Power’s mission is to become a major global, low-cost manufacturer of thin film PV modules. The environmental benefits of thin film technology over traditional mono and polycrystalline silicon are well documented. The acquisition of ThinSilicon will help position us as China’s lowest-cost manufacturer of PV modules, in addition to having the lowest carbon footprint per MW of any PV module manufacturer in China.”

Industry analysts estimate that thin film technology accounted for about 10% of the PV industry’s installed manufacturing capacity in 2008. With the emergence of new entrants and thin film’s inherent cost advantages, thin film’s share of the global PV market is expected to increase to 20 – 25% within the next 3-5 years.

“We’re extremely excited by the opportunity to join forces with China Solar Power,” said Jason Stephens, Co-Founder and principal scientist of ThinSilicon. “China Solar Power’s strong manufacturing foundation in one of the world’s largest PV markets will provide an excellent outlet and greatly accelerate the commercialization of our proprietary process and device technology.”

“This transaction represents a classic combination of Silicon Valley innovation with large-scale, low-cost Chinese manufacturing,” said Frank Liu, Co-Founder and current CEO of CSP. “To sustain our competitive cost advantage, we recognize the need to continually innovate in the R&D lab and on the manufacturing floor. We will remain vigilant in our search for technologies that have the potential to further enhance our low-cost position.”

Acro Energy Closes Los Angeles Acquisition and Announces Private Placement

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:29:00 +0000

HOUSTON--(BUSINESS WIRE)--Acro Energy Technologies Corp. (TSX Venture: ART), a leading US solar integrator, announces that the TSX Venture Exchange has accepted for filing documentation relating to the October 28, 2009 Stock Purchase Agreement (the “Agreement”) between Acro Energy and Energy Efficiency Solar, Inc., a California corporation headquartered in Pomona, Calif. (“EE Solar”), and William Korthof, the sole shareholder of EE Solar, and that closing of the acquisition has been completed.

Under the Agreement, Acro Energy acquired all of the issued and outstanding shares of EE Solar for consideration consisting of US$250,000 cash, a promissory note in the amount of $740,700, and 2,216,250 common shares issued from the treasury of the Company at a deemed value of CDN$0.24 per share.

The Company also announces that, subject to the approval of the TSX Venture Exchange, it has arranged a non-brokered private placement (the “Private Placement”) of approximately 1,190,000 units (the “Units”) at a price of CDN $0.185 per Unit, for aggregate gross proceeds of approximately CDN $220,800. Each Unit is composed of one common share in the Company and one share purchase warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional share of the Company at a price of CDN$0.35 per Share for a period of two years following the closing of the Private Placement. The shares issued in connection with this non-brokered private placement will be subject to a four-month hold period.

The Company intends to utilize the proceeds from the Private Placement for ongoing acquisition efforts and for general corporate overhead purposes.

Solar Power, Inc. Announces Third Quarter 2009 Financial Results

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:28:00 +0000

ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (OTCBB:SOPW), a vertically integrated international designer, manufacturer and marketer of photovoltaic (PV) modules and balance-of-system components and installer of PV solar electric systems for U.S. commercial, public and residential customers today announced results for the third quarter and nine months ended September 30, 2009.

Third Quarter of 2009 Results:

Net sales for the third quarter of 2009 were $22.3 million compared to $19.6 million in net sales in the third quarter of 2008, an increase of 13.5% over the comparative period. Gross profit for the third quarter of 2009 was $5.1 million, or 23.1% of sales, compared to $1.9 million, or 9.5% of sales, for the third quarter of 2008. Operating expenses for the third quarter of 2009 were $3.5 million (15.6% of sales) compared to $2.8 million (14.4% of sales) for the same period last year. Other income, net, including interest and taxes was $79 thousand. Net income for the third quarter of 2009 was $1.7 million, or $0.05 per basic share and $0.04 diluted share, compared to a net loss of $1.0 million, or ($0.03) per basic and diluted share, in the third quarter of 2008. Weighted average number of common shares outstanding used in computing basic per share amounts for the three months ended September 30, 2009 was 38,994,000 and the weighted average number of common shares outstanding used in computing the diluted per share amounts for the three months ended September 30, 2009 was 39,201,234. The weighted average number of common shares outstanding used in computing the basic and diluted per share amounts for the three months ended September 30, 2008 was 37,740,368.

Nine Months Ended September 30, 2009 Results:

Net sales for the nine months ended September 30, 2009 were $38.5 million compared to $35.5 million in net sales in the comparative period of 2008, an increase of 8.4%. Gross profit for the nine months ended September 30, 2009 was $7.3 million, or 19.0% of sales, compared to $3.3 million, or 9.2% of sales, for the comparative period of 2008.

Operating expenses for the nine months ended September 30, 2009 were $9.9 million (25.9% of sales) compared to $9.0 million (25.2% of sales) for the same period last year. Other income, net, including interest and taxes was $43 thousand. Net loss for the nine months ended September 30, 2009 was $2.6 million, or $0.07 per basic and diluted share, compared to a net loss of $5.7 million, or $0.15 per basic and diluted share, in the comparative period of 2008. Weighted average number of common shares outstanding used in computing basic and diluted per share amounts for the nine months ended September 30, 2009 and 2008 were 38,286,787 and 37,671,794, respectively.

Balance Sheet:

Assets include cash and cash equivalents at September 30, 2009 of $9.3 million and accounts receivable (net) and costs and estimated earnings in excess of billings of $21.8 million. Inventory was $5.9 million. Total assets were $40.9 million while total liabilities were $22.2 million. Common shares outstanding at September 30, 2009 were 50,020,826.

Recent Company Highlights:

The Company completed a private placement to accredited investors of 14,077,000 shares of its common stock with net proceeds of approximately $12.8 million.
The Company began installation on the 3.5 megawatt P.V. system at Aerojet in Rancho Cordova, CA. The first year environmental benefits of this system equate to offsetting approximately 8,270,000 car miles driven or the clean air benefits realized from planting 976,520 trees.
Ventura County California Board of Supervisors selected SPI to install 497 kW PV solar systems on two of the county’s buildings.

Management Comments:

“As we have continually stressed, our model is based upon growing top-line revenue, increasing gross margin in a volatile silicon market and managing spending,” said Steve Kircher, CEO & Chairman of SPI. “Our third quarter results highlight our focus on the execution of these key metrics. We continued our momentum from the second quarter, took advantage of a declining silicon market, and achieved gross margins that are actually slightly higher than what we anticipate margins will be in a stabilized market. Credit, especially construction financing is still difficult to obtain but take-out financing for larger projects is loosening up,” Mr. Kircher stated.

“We will be commissioning our 3.5 megawatt project at Aerojet tomorrow and interconnecting shortly thereafter,” Mr. Kircher announced. “This system will be one of the largest systems commissioned this year and is another great reference project for us.”

“Our international business remains very solid and we continue to develop new customers interested in both our top-ranked modules and our suite of proprietary racking systems,” Mr. Kircher said.

“With regard to our plan to develop utility-scale projects, we have exercised our options on two pieces of property that we anticipate we will commence construction on next year,” said Mr. Kircher. “These two projects alone total over 13 megawatts. We have several other utility scale projects that we believe can bring us a large, predictable base of business for the next several years.”

“We expensed over $250,000 in the third quarter while changing the direction of the Yes! business model from a franchise model to a direct distribution model,” Mr. Kircher stated. “We have signed up 6 additional dealers for our Yes! products since September 30, 2009 and received many qualified leads for our Yes! distributorships at the recent solar show held in Anaheim, California,” Mr. Kircher pointed out. “We remain convinced that the residential market will start to grow very fast and that we can participate in this growth through the sale of our already well established solar kits.”

“In short, we are very excited about delivering on our key performance metrics, we’re confident that our solar sales pipeline and opportunities will continue to allow us to drive top line growth and we are proving that we can scale up our top-line while maintaining reasonably flat spending,” Mr. Kircher concluded.

2009 Outlook:

Based on 2009 year to date` financial results, current and anticipated commercial installations, and anticipated product sales to international markets, the Company reiterates its projected revenues between $60 to $70 million for 2009.

Conference Call Information:

The conference call will take place at 4:30pm EST on Wednesday, November 11, 2009. Interested participants should call 1-888-549-7704 when calling within the United States or 1-480-629-9857 when calling internationally.

A playback will be available through November 18, 2009. To listen, please call 1-800-406-7325 within the United States or 1-303-590-3030 when calling internationally. Utilize the PIN number 4180621 for the replay.

This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this link http://viavid.net/dce.aspx?sid=00006CA5, or visiting www.solarpowerinc.net, or at ViaVid's website at www.viavid.net, where the webcast can be accessed through November 18, 2009.

GT Solar International, Inc. Reports Results for Second Quarter Fiscal Year 2010

noreply@blogger.com (Kevin) — Tue, 10 Nov 2009 17:26:00 +0000

MERRIMACK, N.H.--(BUSINESS WIRE)--GT Solar International, Inc. (NASDAQ: SOLR), a global provider of specialized production equipment, process technology and turnkey manufacturing services for the solar power industry, today reported results for its second quarter of fiscal year 2010, which ended September 26, 2009.

Revenue for the second fiscal quarter totaled $104.2 million, compared with $140.2 million in the second quarter of fiscal year 2009. Revenue for the second fiscal quarter included $62.4 million in the PV segment and $41.8 million in the polysilicon segment.

Gross profit for the quarter totaled $34.3 million, or 32.9 percent of revenue, compared to $61.4 million, or 43.8 percent of revenue, for the second quarter of fiscal year 2009. The company’s gross margin for the first half of fiscal 2010 was 39.3 percent. Operating margin for the quarter was 14.8 percent, compared to 30.8 percent in the second quarter of fiscal 2009. Operating margin for the first half of fiscal year 2010 was 17.6 percent. The company had net income of $9.4 million in the second quarter of fiscal 2010 versus $27.9 million for the same quarter of fiscal 2009. Earnings per share in the second quarter on a fully diluted basis were $0.06, versus $0.19 for the same quarter last year.

At quarter’s end, the company’s backlog was $1.03 billion, with $279 million in the PV segment and $752 million in the polysilicon segment. New orders for the quarter, net of de-bookings, were $20.1 million.

Management Commentary

“Our focus has been and continues to be on strengthening GT Solar’s competitive and technology leadership positions in the solar equipment industry,” said Tom Gutierrez, president and chief executive officer. “In fiscal year 2010 to date, we have posted solid financial results, maintained what we believe to be one of the industry’s strongest balance sheets with $204 million of cash and no debt, and we are continuing to significantly increase our investment in R&D.

“In the second quarter, we received new orders of $30.7 million including the first for our new SDR-400 reactor and for engineering services in our new silane business, as well as an order for our multi-crystalline furnaces from a new customer that has historically been a mono-crystalline wafer manufacturer,” continued Gutierrez. “We are also seeing continued evidence that our reputation for quality, performance and industry-leading efficiencies is providing strong differentiation in the marketplace.”

Business Outlook

The company indicated today that its previous guidance for fiscal year ending April 3, 2010, for revenue of $450 million to $550 million and fully diluted earnings per share of $0.45 to $0.60, remains unchanged. The company also indicated its overall gross margin for the year is expected to be comparable to its year to date gross margin of approximately 39 percent.

Conference Call, Webcast

The company will host a live conference call and webcast at 5:00 p.m. Eastern Time today with Tom Gutierrez, president and chief executive officer, and Rich Johnson, vice president of finance.

To listen to the conference call, callers in the United States and Canada may dial 1.800.510.9834. International callers may dial 1.617.614.3669. The conference call passcode is SOLR. A link to the live audio webcast of the company's earnings conference call may be found under ‘Events’ at http://investor.gtsolar.com/.

A telephone replay will be available through January 8, 2010. To listen to the replay, callers in the United States and Canada may dial 1.888.286.8010. International callers may dial 1.617.801.6888. The replay passcode is 18866870.

Energy Conversion Devices To Install Solar Roofing System at East Los Angeles College

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 20:21:00 +0000

ROCHESTER HILLS, Mich., Nov. 9 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), a manufacturer of proprietary, thin-film amorphous silicon-based photovoltaic (PV) laminates, along with its wholly owned subsidiary Solar Integrated Technologies, announced today an agreement to install a 365kW building-integrated solar roofing system at East Los Angeles College (ELAC) as part of a contract with Chevron Energy Solutions, energy services provider for the ELAC project.

"This project provides us with a unique opportunity to help East Los Angeles College save money and prepare for a greener future," said Mark Morelli, president and CEO of ECD. "Our recent acquisition of Solar Integrated Technologies more vertically integrates our company and gives us the capabilities we need to install this UNI-SOLAR building-integrated membrane roof for ELAC."

In addition to installing a new, energy-efficient PV roofing system, the energy services contract bundles multiple energy efficiency improvements into a single package that includes upgrading the facilities' lighting, insulation and HVAC systems.

About Energy Conversion Devices

Energy Conversion Devices is a leader in building integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR(®) brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems which enable customers to transform unused space on the rooftop into a value-generating asset. For more information, please visit www.energyconversiondevices.com.

MARS and PSEG Solar Source Celebrate Completion of New Solar Garden

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 20:07:00 +0000

HACKETTSTOWN, N.J., Nov. 9 /PRNewswire-FirstCall/ -- Red, Yellow and Ms. Green M&M'S® Spokescandies mingled with government officials and executives from MARS and PSEG today at an event in Hackettstown celebrating the completion of a new solar garden. The project is the largest solar facility installed in New Jersey by a food manufacturing plant, and it is the first project completed by PSEG Solar Source, a subsidiary of PSEG.

The solar garden is comprised of more than 28,000 ground-mounted solar panels on 18 acres adjacent to Mars Chocolate North America's headquarters, where more than 1,200 associates work and M&M'S® Brand Chocolate Candies are manufactured. The solar garden provides 2 MW of power during peak hours, which is equivalent to approximately 20 percent of the plant's peak energy consumption. It will reduce carbon dioxide emissions by more than 1,000 metric tons, equivalent to removing 190 vehicles from the road each year.

A long term partnership between Mars Chocolate North America and PSEG Solar Source will ensure the solar garden's success. PSEG Solar Source owns the system, which is located on Mars Chocolate North America's property, and Mars has contracted for the entire output of the system. juwi solar Inc., a solar energy company located in Boulder, Colorado, performed the engineering, procurement and construction services for the system and will also be providing the initial operation and maintenance services. Thin film panels were provided by First Solar.

"Sustainability is one of the most pressing concerns of our time. At Mars, we are aware of the scale of the challenge, and we are determined to be part of the solution," said Todd Lachman, president of Mars Chocolate North America. "As we celebrate with our partner, PSEG Solar Source, the opening of the largest solar garden in the State of New Jersey by a food manufacturer, we also celebrate our commitment to the environment and the communities in which we conduct business. The solar garden strengthens our pledge to serve as an environmentally-friendly corporate citizen, reinforcing our commitment to the town of Hackettstown and the state of New Jersey."

The solar garden project supports aggressive energy goals put in place by the State of New Jersey. Its Energy Master Plan calls for 20 percent of the state's energy to come from renewable sources by the year 2020. The state has made significant inroads in the last few years, installing more than 100 MW of solar energy, making it second only to California in terms of the amount of solar capacity installed.

"We are pleased with the completion and initial performance of the solar system and with the partnership with Mars that got us here," said Diana Drysdale, who heads PSEG Solar Source. "Large scale solar facilities are essential for New Jersey to meet its aggressive solar mandate and this project proves that they can be a very real part of the state's energy mix."

PSEG Solar Source currently owns two other utility-scale solar projects - one in Florida and another in Ohio. Those projects, done with juwi solar Inc, total 27 MW and are expected to be completed by the end of next year. These assets are the first in a planned portfolio of solar facilities throughout the U.S. to be developed, owned and operated by PSEG Solar Source.

Mars Chocolate North America also unveiled today significant renovations to its Hackettstown site, which includes corporate headquarters and manufacturing. The cutting-edge renovations are sustainable, and were designed to help retain existing staff, attract new talent and improve productivity. The colorful, open design encourages flexible, more efficient ways of working, including a variety of unassigned work spaces and conference rooms, each featuring unique seating arrangements - from booths with bench seats to café seating and upholstered chairs paired with small coffee tables.

With the environmentally friendly renovations completed, the company will apply for LEED Gold Certification. If granted, the Hackettstown building will be the first Mars legacy site to achieve LEED Certification. A few of the enhancements include the installation of water-conserving fixtures that reduce water usage by more than 30 percent; a reduction in energy use by 15 percent through the use of a newly upgraded Building Energy Management System, variable frequency drives and energy-efficient lighting and controls; an upgraded roof utilizing a highly reflective roofing material that offsets the direct heat gain to the building; and the utilization of more than 20 percent recycled content in materials, from carpet to ceiling tiles.

Joule Reports Breakthrough in Renewable Diesel Production Through Solar Power

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 19:33:00 +0000

HONOLULU--(BUSINESS WIRE)--Joule Biotechnologies, Inc. today announced a major step forward in its development of renewable fuels, achieving direct microbial conversion of carbon dioxide (CO₂) into hydrocarbons via engineered organisms, powered by solar energy.

Joule is advancing a new, photosynthesis-driven approach to producing renewable fuels, avoiding the economic and environmental burden of multi-step, cellulosic or algal biomass-derived methods. The company employs a novel SolarConverter™ system, together with proprietary, product-specific organisms and state-of-the-art process design, to harness the power of sunlight while consuming waste CO₂. Its pioneering technology platform has already been proven out with the conversion of CO₂ into ethanol at high productivities, a process that enters pilot development in early 2010. With this latest feat of genome engineering, Joule is now capable of directly producing hydrocarbons – setting the stage for delivery of infrastructure-compatible diesel fuel without the need for raw material feedstocks or complex refining.

The breakthrough was made possible by the discovery of unique genes coding for enzymatic mechanisms that enable the direct synthesis of both alkane and olefin molecules – the chemical composition of diesel. Production was achieved at lab scale, with pilot development slated for early 2011.

“This achievement marks a critical step towards making renewable diesel fuel a reality at high volumes and competitive costs,” said Bill Sims, President and CEO, Joule Biotechnologies. “We are accelerating the pace to create a direct replacement for petroleum-based diesel that can use today’s storage and distribution methods, with a very high net energy balance, and without the depletion of natural resources incurred by biomass-to-liquid approaches. It won’t happen overnight, but this latest milestone opens the door to an industry-changing technology.”

According to OPEC’s 2009 World Outlook, world demand for middle distillate fuel, chiefly diesel, will grow faster than any other refined oil product to 34.2 million barrels per day by 2030. The U.S. currently consumes approximately 19 million barrels of fuel per day, with diesel accounting for three million of that amount.

Joule is directly targeting this opportunity with a production process that requires only CO₂ as opposed to raw material feedstocks, removing a costly component that can be subject to significant fluctuations in price and availability. Because its organisms are being engineered to directly secrete hydrocarbon molecules, Joule will avoid costly steps such as large-scale biomass collection, energy-intensive degradation, or other downstream refinement. In addition, Joule’s process requires just marginal, non-arable land, no crops and no fresh water.

David Berry, company founder and director, will discuss Joule’s latest developments at the BIO Pacific Rim Summit on Industrial Biotechnology and Bioenergy during the plenary lunch session on Tuesday, November 10. Additional information about the conference is available at www.bio.org/pacrim.

Owens Corning and SunEdison Activate 440 Kilowatt PV Solar System in Kearny, NJ

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 19:31:00 +0000

TOLEDO, Ohio--(BUSINESS WIRE)--Owens Corning (NYSE: OC), world leader in building materials and glass fiber reinforcements, and SunEdison, North America’s largest solar services provider, announced the activation of a 440 kilowatt (kW) roof-mount photovoltaic (PV) solar system at Owens Corning’s Kearny, New Jersey facility. The activation took place on Sept. 21, the day before SunEdison was awarded the first energy stimulus grant in the solar industry, under the American Recovery and Reinvestment Act (Recovery Act).

Under a long-term solar power services agreement (SPSA), Owens Corning will use a PV solar system at its Kearny facility that is financed, constructed and to be maintained by SunEdison. The new system will produce more than 522,000 kilowatt hours (kWh) of clean, solar energy in the first year of operation alone. Over 20 years, the PV solar system in use at Kearny will produce more than 9.5 million kWh, enough energy to power 893 average U.S. homes for a year, according to SunEdison projections.

“A critical part of Owens Corning’s sustainability strategy is greening our operations,” said Frank O’Brien-Bernini, Owens Corning’s chief sustainability officer. “By using a zero-emissions solar system, we’re continuing our long-term commitment to operate in ways that are environmentally safe and energy efficient. This solar installation is expected to offset nearly 14 million pounds of carbon dioxide over the life of the agreement,” O’Brien-Bernini said.

“I’m proud of our people and what they’ve done to help further green our operations,” said Evelyn Cruz, Owens Corning plant leader for Kearny. “This is a great example of how commitment and teamwork can make a big difference in our community and in the world.”

Owens Corning makes fiberglass and foam insulation products that significantly improve the energy efficiency of buildings. Homes and commercial buildings consume 40 percent of the world's energy, including more than 70 percent of the electricity in the United States. Owens Corning is also the largest manufacturer of reinforcements used in the production of blades for wind turbines, a growing source of renewable energy,

According to Brian Jacolick, General Manager, North America for SunEdison, “The Owens Corning Kearny facility raises the profile of solar adoption in the United States. The company’s forward-thinking view of solar serves as a model for businesses who want to control high energy costs while preserving the environment. Owens Corning also takes the lead with this solar installation as one of the first sites to be funded by the Recovery Act’s Section 1603 (Grant-in-lieu of Investment Tax Credit). The grant is a great stimulus to solar adoption and renewable energy, and we are pleased that this first project was developed with an industry-leader like Owens Corning.”

"In this challenging economy, PSE&G's $105 million solar loan program provides financing that removes risk for customers who want to install affordable and pollution-free solar systems," said Al Matos, PSE&G's vice president for renewables and energy solutions. "We have a huge challenge facing us in New Jersey if we’re going to meet the state’s renewables goals for the year 2020. It's going to take partnerships like this one, a partnership of developers, utilities and government working collectively to meet the goal. Owens Corning has stepped up, and we congratulate them on the completion of their first solar project."

Owens Corning’s Kearny facility produces roofing shingles, including Duration, Duration Premium and Oakridge products. The facility is located at 1249 Newark Turnpike in Kearny.

AES Solar Energy Closes on €25 Million Non-Recourse Financing for Its First Photovoltaic Project in Greece

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 19:30:00 +0000

ARLINGTON, Va.--(BUSINESS WIRE)--AES Solar Energy Ltd (AES Solar), a joint venture between The AES Corporation and Riverstone Holdings LLC, announced that on October 20, 2009 one of its subsidiaries closed a €25 million non-recourse debt facility for the Iktinos project, a 4.3 MW photovoltaic (PV) facility located in Florina, Greece. The loan was extended by Landesbank Baden Wurttemberg (LBBW) of Germany in several tranches including an 18 year term tranche and three shorter term tranches. The financing has been syndicated to one other bank.

When completed, the project will be the largest solar PV installation in Greece and will provide enough renewable electricity to power over 400 homes. The project is expected to reach commercial operation in early 2010. It qualifies for the favorable regulated tariff under the Renewable Energy Sources Law 3468/2006 (“RES Law”) as well as a capital subsidy to support eligible project expenditures.

“We are very pleased to reach financial close on our first Solar PV deal in Greece. The credit markets remain challenging, but this project demonstrates our ability to raise non-recourse finance, even in a market where there are few precedents for such deals. This is the successful result of combining a well-structured project with committed people on both sides of the deal. We hope to accomplish further projects in Greece in the near future,” said Robert Hemphill, CEO of AES Solar.

“The regulatory environment in Greece may be highly attractive to investors on one hand but on the other hand it is rather complex to document sophisticated financing structures. AES Solar certainly is amongst the most experienced sponsors of energy related projects in the world. In such markets it is very important to have partners who have the team and the infrastructure enabling them to deliver,” said Alexander Bagiaos, Vice President at LBBWs Project Finance Renewables division.

Polycrystalline panels manufactured by Yingli are used in the project. This financing represents the largest project financing completed in Greece for solar installations to date.

Solar Energy Initiatives Announces Securing Land to Build a 100 Megawatt Solar Park in California

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 19:30:00 +0000

PONTE VEDRA BEACH, Fla.--(BUSINESS WIRE)--Solar Energy Initiatives, Inc. (OTCBB:SNRY), executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced that the Company’s wholly owned subsidiary, Solar Park Initiatives, signed a contract securing land for the design, construction and operation of a solar park in California. Solar Park Initiatives will be responsible for providing engineering, permitting, construction, operations and maintenance as well as obtaining the financing of the solar park. Solar Energy Initiatives will procure the solar panels and balance of system for the project.

Solar Park Initiatives will begin preliminary work, including zoning, permitting, EPA approvals and other activities immediately with construction estimated to begin in late 2010. The contract possesses a 25 year life with additional renewal options. The 100 megawatt project will be constructed in various increments over a three year time frame.

“This endeavor represents strong validation that Solar Energy Initiatives and Solar Park Initiatives’ synergistic relationship is extremely capable of securing large scale contracts and expanding market presence,” stated, David Fann, Chief Executive Officer of Solar Energy Initiatives. “We believe that as Solar Energy Initiatives and Solar Park Initiatives continue to grow as market leaders and establish credibility with municipalities and landowners that both companies will secure additional contracts, increase our earnings and achieve our primary goal of improved shareholder value. Combined with our previously announced solar park in Western Texas we now have a combined 400 megawatts worth of projects that will begin in the next eighteen months.”

Mr. Michael Gorton has joined the team as Chief Executive Officer of Solar Park Initiatives stated, “We are pleased with the success we are having in gaining traction with the assistance of SNRY management team. Our priority is to review and attain additional solar park projects as we continue to gain traction as a leading developer of large scale solar parks. We look forward to implementing this large revenue contract and have several others we will be announcing in the near future..”

Solar Park Initiatives is a recent spin-off of Solar Energy Initiatives. SNRY’s shareholders of record, as of October 15, 2009, shall receive one common share of Solar Park Initiatives, Inc. for every two common shares of SNRY owned. The transaction is cash and tax free for all SNRY shareholders.

Entech Solar Announces 2009 Third Quarter Results

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 18:17:00 +0000

FORT WORTH, Texas--(BUSINESS WIRE)--Entech Solar, Inc. (OTC BB: ENSL.OB) (the “Company” or “Entech Solar”), with plans to become a leading developer of renewable energy technologies, today announced its financial results for the quarter ended September 30, 2009.

Third Quarter Operational Highlights

ThermaVolt™ II: The Company completed the assembly and test of multiple working modules using its proprietary concentrating photovoltaic (PV) and thermal technology, and has started the next crucial phase in the product’s development – design-verification-testing (DVT). DVT allows Entech Solar’s engineers and scientists to test and validate the performance and quality of the modules prior to the commencement of independent third-party product certification. ThermaVolt II modules, which produce both electricity and hot water, have the same length and width dimensions (form factor) as industry-standard PV modules.
SolarVolt™ II: Entech Solar announced plans to develop an electricity-only concentrating photovoltaic solar module. With a form factor similar to the ThermaVolt II module, this Concentrated Power Product (CPP) offers customers large-scale utility solutions.
Tubular Skylight Lighting Solution: The Company completed the critical design review of its patented lighting solution product and the development of its go-to-market commercialization strategy. Product certification has started with independent third-party testing laboratories. The Company plans to begin selling this product in early 2010 with an initial launch in North Texas.

“I am pleased to update investors on Entech Solar’s product development progress. We received positive comments on our ThermaVolt II prototype module that was recently on exhibit at Solar Power International, North America’s largest solar industry conference in Anaheim, California,” said Dr. Frank Smith, Chief Executive Officer.

“We continue to advance our products through critical development and gate reviews. We expect ThermaVolt II to offer a compelling value proposition to the multi-billion dollar U.S. combined heat and power market with its dual output of electricity and thermal energy, standard manufacturing and competitive price point. The Company’s strategic goal is to be a leading developer of renewable energy technologies for the commercial, industrial and utility markets.”

Financial Results

As the Company completes its transition from the flat-plate solar installation business, revenues for the 2009 third quarter amounted to $75 thousand, compared with $6.5 million reported in the third quarter last year. The Company recorded a gross profit for the quarter ended September 30, 2009 of $3 thousand, versus a gross loss of $2.3 million in the prior-year period. The Company’s net loss attributable to common shareholders for the third quarter of 2009 was $4.7 million, or $(0.02) per share, versus a comparable loss of $7.4 million, or $(0.03) per share in the third quarter of 2008.

As of September 30, 2009, the Company’s cash and cash equivalents totaled $4.8 million, $2 million of which was provided by a related party loan from The Quercus Trust. This loan will be repaid upon completion of the previously announced rights offering.

Conference Call

Entech Solar will host a conference call at 10:00 a.m. Eastern on November 9, 2009 for the quarter ended September 30, 2009. During the call, Frank W. Smith, Chief Executive Officer, and Sandy J. Martin, Chief Financial Officer, will review the Company’s operations, business and financial matters. The telephone number for the conference call is 800-435-1261 domestically and 617-614-4076 internationally, with conference ID #69649664. A live webcast of the call will also be available on the company's website, www.entechsolar.com.

The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for thirty days by calling 888-286-8010 domestically or 617-801-6888 internationally, with conference ID #21627169. The encore recording will be available two hours after the conference call has concluded.

India’s Booming Solar Industry Reinforces Linde as Frontrunner in PV Industry

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 17:32:00 +0000

MUNICH--(BUSINESS WIRE)--Reinforcing its position as India’s leading gas technology supplier to the photovoltaic (PV) industry, BOC India (BOCI), a member of The Linde Group, has won four new long-term gas supply deals with large PV manufacturers, Moser Baer, Euro Multivision, Solar Semiconductor and Indo Solar (formally Phoenix Solar).

Gases are critical to the production of solar cells, and can account for up to 20 percent of the total cost of thin film silicon manufacturing. These significant deals for BOCI come at a time when India readies to unveil its first solar power target, pledging to boost output from near zero to 20 Giga Watts (GW) by 2020, as it firms up its national plan to fight global warming through the development of alternative energy sources and reduction of greenhouse gas emissions.

“As India plans its solar energy production targets, BOCI is committed to the common goal of bringing the cost of solar electricity to grid parity for mass adoption, by reducing cost per watt of solar cell production,” said Srikumar Menon, Managing Director, BOC India. “Our relationships with this growing list of leading Indian manufacturers are testament to the value of our investment in establishing world class execution capability to serve this rapidly growing and technically demanding industry.”

For Moser Baer’s first PV production unit in Greater Noida, India, BOCI has created one of the largest supply schemes for industrial gases for electronics manufacturing throughout South and East Asia. In addition to the on-site manufacturing of critical gases, BOCI’s partnership with Moser Baer includes a focus on employing technology solutions to optimise gas usage as well as India’s first on site Total Gas Management (TGM) service.

For Indo Solar’s first crystalline silicon PV cells manufacturing plant in India, and also in Greater Noida, BOCI has been selected as its exclusive supplier of bulk nitrogen (N₂), silane (SiH₄) and other specialty gases. BOCI will provide a full TGM service and also install the distribution and monitoring systems required for safe and reliable supply of these specialty gases to the manufacturing facility. In Phase One, Indo Solar will have an annual cell capacity of 160MW, which will ramp up by an additional 200MW in Phase Two (anticipated completion by end of 2009).

In Fab City Hyderabad, BOCI has been selected to pioneer the development of gas supply infrastructure in conjunction with the first large PV investment. Solar Semiconductor’s new crystalline silicon cell plant in Fab City has an initial capacity of 30 MW and plans to ramp up to 120MW by 2010. BOCI also plans to further expand its gas and chemical infrastructure in Fab City Hyderabad to support future investments.

Finally, in Gujarat BOCI is working with Euro Multivision Limited on the bulk and special gas supply to their new 40MW crystalline cell manufacturing facility in Kutch.

In India, solar manufacturing clusters are mainly in the north (Delhi and Noida) and the south (Hyderabad, Bangalore and Chennai).

About The Linde Group:

The Linde Group is a world leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide. In the 2008 financial year it achieved sales of EUR 12.7 billion. The strategy of The Linde Group is geared towards earnings-based and sustainable growth and focuses on the expansion of its international business with forward-looking products and services.

Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group web site at www.linde.com

BOC India Limited (BOCI), a member of The Linde Group, is the leader in gas business in India since 1935. BOC India provides a one-stop solution to every sphere of gas and gas related business as well as manufacture of cryogenic and non-cryogenic vessels and designing and commissioning of projects. BOC India has excelled through successfully blending of local innovation and adaptation with international expertise from The Linde Group. Be it for food processing, medical, domestic or industrial use, BOC India provides tailor made solutions for its customers. While providing the best solutions to its customers, BOC India has always conformed to the strictest international standards of production and safety.

Applied Materials Acquires the Assets of Advent Solar

noreply@blogger.com (Kevin) — Mon, 09 Nov 2009 17:31:00 +0000

SANTA CLARA, Calif.--(BUSINESS WIRE)--Applied Materials, Inc., the leading supplier of equipment and services to the solar photovoltaic (PV) industry, announced today that it has acquired substantially all the assets, including the intellectual property, of Advent Solar, Inc. for an undisclosed cash amount. Advent Solar is a developer of advanced technology for crystalline silicon (c-Si) PVs. This acquisition is expected to complement Applied’s portfolio of solar PV technologies and enhance its leadership in the c-Si equipment market.

Advent Solar has pioneered several innovations for producing c-Si cells and modules, including technology for streamlining module assembly processes and advanced efficiency device architectures. The company, founded in 2002, is headquartered in Albuquerque, New Mexico.

“We believe the acquisition of Advent Solar will increase our opportunities to provide innovative solutions for reducing module production costs,” said Dr. Mark Pinto, chief technology officer and general manager of Applied’s Energy and Environmental Solutions Group. “Combining Advent Solar’s PV technology with Applied’s expertise in automated wafering and cell production equipment, we expect to deliver systems that will enhance customers’ c-Si roadmaps and accelerate the reduction in cost per watt of solar electricity.”

After the close of this transaction, Advent Solar’s assets will be integrated with Applied’s Energy and Environmental Solutions Group.

EarthSure’s “AirRay™ Auto”: the Car That Oil Companies Don’t Want You to Know About

noreply@blogger.com (Kevin) — Thu, 05 Nov 2009 18:26:00 +0000

WOODBRIDGE, N.J.--(BUSINESS WIRE)--EarthSure, a renewable energy company and innovator in alternative energy sources introduces its most ground-breaking invention to date. Patent pending AirRay™ is the name given to the car that will produce energy through solar power and wind power; enough energy to reduce or eliminate your electric bill and eventually allow your car to solely run on electric. This is the car that is destined to be the new “Car of the Future”.

AirRay’s™ entire system is unique. The roof of the car consists of a solar honeycomb-membrane panel which collects the sun’s rays when parked and when moving, and transfers that energy to the main energy storage system located in the back of the vehicle. The front hood of the car boasts three wind turbines which transfer air into electric energy and is then stored in the main battery. The remaining wind turbine is located on the trunk of the car, grasping at the airflow that surrounds the car when driving. Engineers have incorporated the vehicle with Vehicle to Grid (V2G) capabilities which will enable the user to transfer renewable power back into their home for use in their household or right back into the electrical grid to deplete their electric bills.

The initial AirRay™ concept car will have these features incorporated within a hybrid auto or traditional gas or diesel run vehicle. EarthSure CEO Raymond Saluccio adds, “Our final masterpiece of automobile will be solely electric powered and not have any need for gas or oil. The energy the car creates through the solar panels and the wind turbines will be enough for the automobile to run without worry of losing power. Not only that, but it is a sleek looking car! The AirRay car not only turns air and light into energy, but will turn a lot of heads too!” This final version of the AirRay car is a work in progress but EarthSure has filed numerous patents with the U.S. Patent and Trademark Office to ensure their car will be able to quickly make it to market once approved.

Evergreen Solar’s Sequential Shipments Increase 35% to 31 MW for the Third Quarter

noreply@blogger.com (Kevin) — Thu, 05 Nov 2009 18:03:00 +0000

MARLBORO, Mass.--(BUSINESS WIRE)--Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of String Ribbon™ solar power products with its proprietary, low-cost silicon wafer technology, today announced financial results for the third quarter ended October 3, 2009.

Key accomplishments during the quarter were:

Shipped 31.3 MW from our Devens facility, an increase of 35% over second quarter shipments of 23.2 MW;
Reduced total manufacturing cost to $2.24 per watt, down 17% from $2.70 per watt for the second quarter. Wafer manufacturing cost was approximately $0.75 per watt, down from $0.85 per watt in the second quarter;
Generated EBITDA of $6.3 million, compared to $1.4 million in the second quarter;
Finalized agreements with Jiawei Solar and the Wuhan, China Government’s Hubei Science & Technology Investment Co., Ltd. (“HSTIC”), under which:
- Evergreen Solar will manufacture String Ribbon wafers using our state-of-the-art Quad furnaces at a leased facility currently being built by Jiawei in Wuhan, China on Jiawei’s campus;
- Jiawei will convert the String Ribbon wafers into Evergreen Solar-branded panels on a contract manufacturing basis beginning in the spring 2010; and
- HSTIC provided $33 million of 7.5% financing, which Evergreen Solar must repay no later than July 2014, all of which has been received.
Hired our Chinese executive team, including Henry Ng, former General Manager of Suntech Power Company Ltd.’s factory in Wuxi, China;
Began pilot production at our Michigan high-temperature filament plant.

“Due to strong demand from our customers, we were able to increase our sequential production substantially and sell everything we produced,” stated Richard M. Feldt, Chairman, CEO and President. “While demand continues to be solid early in the fourth quarter, we expect to experience some of the typical seasonal moderation in December which we expect will extend into the first quarter.

“Our Devens facility has continuously met its key operational goals of rapid sequential production increases and significantly reduced manufacturing costs since opening in mid-2008. In particular, we are especially pleased with the success of our Quad wafer production performance, which has met or exceeded our expectations to date. However, panel prices have fallen over 30% since mid-2008 making it very difficult for manufacturers located in high-cost regions to remain price competitive. Therefore, we are accelerating our strategic initiative of increasing the focus on our unique wafer manufacturing technology; and we will begin to transition our Devens-based panel assembly to China in mid-2010,” continued Feldt.

“Until we begin this transition, we expect to produce approximately 30 to 35 megawatts each quarter at our Devens facility. After the transition is complete, we will continue to produce wafers and cells at our Devens facility and may increase capacity if market demand warrants. If long-term demand for panels manufactured in the United States significantly increases, we will be well-positioned to quickly reintroduce panel assembly again at Devens,” Feldt concluded.

Third Quarter 2009 Financial Results

Revenues for the third quarter of 2009 were $77.7 million, including $2.2 million of fees from our Sovello joint venture, compared to $63.8 million for the second quarter of 2009, including $1.1 million of fees and $22.1 million for the third quarter of 2008, including $4.3 million of fees.

Gross margin for the third quarter of 2009 was 9.7%, compared to 1.9% for the second quarter of 2009 and 5.7% for the third quarter of 2008.

Operating loss for the third quarter was $6.0 million, compared to $11.5 million for the second quarter of 2009 and $22.1 million for the third quarter of 2008. Net loss for the third quarter of 2009 was $82.4 million compared to $20.3 million in the second quarter of 2009 and $24.6 million for the third quarter 2008. Net loss for the third quarter 2009 includes a charge of approximately $70 million reflecting the write-down of our investment in Sovello to its estimated fair value. In making the assessment, we considered Sovello’s cash position, projected cash flow, comparable market data, the current investing environment, management changes and competition. If Sovello is not able to restructure the terms of its loan agreements or its operations continue to deteriorate, the carrying value of this investment could be further impaired in the future.

This press release contains both GAAP and non-GAAP financial information. Non-GAAP figures are reconciled to the closest GAAP equivalent categories in the financial attachment of this press release.

Conference Call Information

Management will conduct a conference call at 8:30 a.m. (ET) tomorrow (November 5, 2009) to review the Company's third quarter financial results and highlights. The call will be webcast live over the Internet and can be accessed by logging on to the "Investors" section of Evergreen Solar's website, www.evergreensolar.com prior to the event.

The call also can be accessed by dialing (877) 704-5378 or (913) 312-1294 (International) prior to the start of the call and refer to confirmation code 3659743.

For those unable to join the live conference call, a webcast replay will be available from 11:00 a.m. (ET) on November 5 through 8:00 p.m. (ET) on November 13. To access the replay, logon to the “Investors” section of Evergreen Solar’s website, www.evergreensolar.com.

Solar Power International Breaks Attendance Records and Reports Strong Interest in Solar Across Economic Sectors

noreply@blogger.com (Kevin) — Thu, 05 Nov 2009 18:02:00 +0000

ANAHEIM, Calif.--(BUSINESS WIRE)--Solar Power International 2009, the largest business-to-business solar energy conference and expo in North America, broke attendance records for the sixth year in a row last week. The 2009 conference drew more than 24,000 industry professionals, an increase from 17,500 in the previous year. Attendees originated from 99 countries and a broad cross-section of solar and related industries, including electric utilities, construction and investment banking. The annual Public Night event, open free to the general public, attracted an additional 2,700 people from the Southern California region.

The exhibit floor more than doubled in size from the previous year, featuring 929 companies from every part of the solar value chain. Industry leaders predicted growth in 2010 due to pent-up demand in emerging markets, the falling cost of solar electric power generation, the increased involvement of electric utility sector, and the confluence of business innovation and progressive energy policy. Politicians, dignitaries and celebrities converged on Anaheim to speak of the vast potential of solar to create a new, clean energy economy.

Growing attendance prompted the co-presenters of the conference, Solar Electric Power Association (SEPA) and Solar Energy Industries Association (SEIA), to create a new entity, Solar Energy Trade Show LLC, which will produce future events such as Solar Power International 2010 (Oct. 12-14, 2010, in Los Angeles) and the upcoming PV America 2010 (April 8-10, 2010, in Washington, D.C.).

“Solar Power International was recently named one of Trade Show Week’s ‘Fastest 50’ growing conferences, but it is also one of the most inclusive. Year after year, our sold-out event attracts thousands of new participants from an increasing range of countries and economic sectors,” said Julia Hamm, executive director of SEPA. “The 2009 event was our most diverse yet, with 27 percent attending from outside the U.S. As the U.S. solar market matures, it is our top priority to remain vital and accessible to industry veterans and newcomers alike. We are excited to continue our partnership with SEIA through the Solar Energy Trade Show LLC, producing not just Solar Power International but a series of business-to-business events for our growing customer base.”

“The size and scope of Solar Power International reflects solar energy’s potential as an engine of economic growth,” said Rhone Resch, president and CEO of SEIA. “Now, as attendees head back to their offices and project sites, they need to focus the energy they felt at SPI onto their local and federal leaders, and demand policies which allow solar to compete fairly, let consumers to choose, and expand the U.S. solar market. We’re headed back to Washington ready to lead the fight to foster a policy environment that will create more jobs and more opportunities for consumers to go solar. We need everyone in the solar industry to come together and put our message into practice.”

SANYO Celebrates Grand Opening of New Monterrey Solar Module Assembly Manufacturing Plant with Ceremony

noreply@blogger.com (Kevin) — Thu, 05 Nov 2009 18:01:00 +0000

MONTERREY, Mexico--(BUSINESS WIRE)--SANYO Energy, S.A. de C.V. (SANYO Energy), a subsidiary of SANYO Electric Co., Ltd. (SANYO), has officially opened and started production in Monterrey. The plant, located in Nuevo Leon, Mexico, will be assembling SANYO’s patented HIT (Heterjunction with Intrinsic Thin-layer) solar modules. SANYO’s HIT solar cells and modules have the world’s highest solar light to electric energy conversion efficiency per installed square foot. SANYO Energy will be producing at a capacity of 50-Megawatts annually, with the assembled panels to be used in installations in North America, including the United States.

“Our Monterrey plant was our first overseas module assembly facility in our solar business,” said Mr. Mitsuru Homma, Executive Vice President and Member of the Board of SANYO Electric Co., Ltd. “The Monterrey plant is important and vital in North America for the assembly of our world’s highest efficiency HIT modules and the work done here has largely contributed to the growth in sales in North America, and will remain a factor as this region continues to grow.”

SANYO is augmenting its facilities with the necessary equipment and construction of new facilities for future growth in response to market demand, moving forward to reach goals set for an annual global production capacity of at least 600 MW by FY 2010.

SANYO began researching and developing amorphous solar cells in 1975 and was the world’s first to commercialize amorphous-type solar cell production in 1980. In 1997, SANYO started mass production and sales of its world-leading conversion efficiency HIT solar cells. SANYO currently manufactures silicon ingot and wafers in the US, the solar cells are made in Japan, with module assembly plants located in Mexico, Hungary and Japan.

For more information on SANYO’s solar products, please visit: http://us.sanyo.com/Solar

Satcon to Present at Thomas Weisel Partners Alternative Energy & Natural Resources Conference on November 10

noreply@blogger.com (Kevin) — Thu, 05 Nov 2009 18:00:00 +0000

BOSTON--(BUSINESS WIRE)--Satcon (NASDAQ CM: SATC), a leading provider of utility scale power solutions for the renewable energy market, announced today that the company will be presenting at the Thomas Weisel Partners Alternative Energy & Natural Resources Conference in New York on Tuesday, November 10, 2009 at 11:30 a.m. ET.

President and Chief Executive Officer Steve Rhoades will discuss Satcon’s recent business highlights at the conference. Those interested in listening to the live or archived webcasts via the Internet should log on to the “Investor Relations” section of Satcon’s website, http://investor.satcon.com.

About Satcon

Satcon Technology Corporation is a leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry’s most advanced, reliable and proven clean energy alternatives. For over 24 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.