Major Taiwanese PV manufacturer Motech Industries is making an investment in a PV module manufacturing subsidiary of monocrystalline solar cell producer Solargiga Energy that will drive an additional 600MW of new capacity at the plant in China through 2016.
Distributed renewable energy company UGE International is to acquire Toronto-based solar energy firm Endura Energy Project Corp.
UGE will use Endura’s project execution platform to accelerate deployment of projects in its focus markets including the US, Panama, the Philippines and China.
UGE also noted that the acquisition will give the company a leading market share in Ontario while Canada looks to acquire more progressive clean energy goals under its recently elected prime minister Justin Trudeau.
Under the agreement UGE will acquire all of the issued and outstanding common shares of Endura from a numbered company controlled by Cameron and Alison Steinman, the founders of Endura.
UGE shall pay CAD$1 million (US$746,000) in cash on closing of the acquisition, and shall issue 8,888,888 common shares of UGE to the numbered company.
Upon closing the acquisition, Cameron and Alison Steinman will become insiders of UGE and will hold around 32% of the issued and outstanding common shares of UGE indirectly through the numbered company.
Nick Blitterswyk, chief executive of UGE, said: “UGE is growing quickly in the commercial solar sector, both in North America and in key international markets. We have always been impressed with Endura’s professionalism and experience, and by combining our traditional strengths in sales, marketing and project finance with Endura’s strengths in engineering and project implementation, we are taking another significant step towards market leadership in this sector.”
Cameron Steinman, president of Endura, said: “UGE offers an unparalleled platform for working with businesses to lower their energy costs through distributed generation. In this fast growing industry, we’re proud to be aligned with UGE, and excited about the growth ahead.”
The energy ministry of the south Indian state of Karnataka has announced a 1.2GW ground-mount solar tender.
MNRE joint secretary Traun Kapoor also announced that India would be implementing three or four 'Solar Zones' and is likely to see capacity commissioned in what could be the world's largest solar projects in solar parks within India next year.
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Large-scale solar and wind can already compete on price with traditional generation in some parts of the world, even with the price of natural gas falling, according to financial advisory and asset management firm Lazard.
France-based renewable energy company Tenergie has successfully refinanced its 54.4MW of solar assets for €150 million (US$166 million) with a bank syndicate led by Credit Agricole Group.
Plans to bolster India’s struggling power distribution companies, seen as critical to delivering the country’s ambitious solar plans, must also include an overhaul of electricity tariffs, experts have claimed.
Concluding, Bridge to India said the financial health of Discoms had “serious ramifications” for the continued growth of solar in India: “The economic case for solar power is becoming stronger by the day but off-take concerns can imperil the solar sector in much the same way as they have for the thermal power sector. A successful revival of the power distribution sector and tariff reforms will immensely benefit both utility scale and rooftop solar.”
Renewables with energy storage can help build low carbon energy networks in the developing world – but the twin technologies still face competition from natural gas while they gradually mature, according to an electric power systems maker and integrator.
“I’d say that competition, between lower carbon generation versus renewables-plus-storage is something that will be in the market for some years, at least until the technology gets more mature,” Takiguchi said.
Global solar company Conergy is to send 10 American students to the COP21 climate change negotiations in Paris this December as part of its newly launched Future Solar Leaders programme.
The students chosen are Eric Beeler (George Washington University, Washington D.C.), Zach Bielak (Rice University, Houston, Texas), Rohith Desikan (Stanford University, Palo Alto, California), Emma Hutchinson (Stanford University, Palo Alto, California), Christina Cilento (Northwestern University, Chicago, Illinois), Shana Gallagher (Tufts University, Boston, Massachusetts), Jake Kornack (Willamette University, Salem, Oregon), Caroline Saunders (Vanderbilt, Nashville, Tennesse), Salwa Shameem (University of Chicago, Illinois), Kyle Sundman (University of Denver, Colorado).
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