Nov 15, 2013 - This week IEA says renewables will hit a 31% share in global power generation by 2035 and Navigant Research guides for 73.4 GW of annual PV installations by 2020, while reports say Sowitec will install 200-MW wind park in Russia and Acme Group will build 1 GW of solar plants in India.
Renewables will reach a share of 31% in total power generation worldwide by 2035, as compared to 20% in 2011, according to the World Energy Outlook released Tuesday by the International Energy Agency (IEA). Overall, renewables will be responsible for nearly 50% of the growth in global power production to 2035, with wind and photovoltaics (PV) taking a significant share, IEA says. China will experience the biggest jump in renewable power generation, surpassing that in the European Union (EU), the US and Japan combined.
More details on: http://renewables.seenews.com/news/renewables-to-bring-31-of-global-power-in-2035-iea-389307
NAVIGANT SEES ANNUAL SOLAR PV MARKET AT 73.4 GW IN 2020
China was also mentioned as the top market for one specific renewable energy technology -- solar PV -- in a forecast released last Friday. According to market intelligence firm Navigant Research, annual solar PV installations around the globe will hit 73.4 GW by the end of the decade, as compared to 35.9 GW in 2013, regardless of declining government support, trade conflicts and bankruptcies in the sector. China is expected to install over 100 GW of solar PV by the decade’s finale.
Overall, capacity growth will be driven by demand in the Asia Pacific region, Navigant said.
More details on: http://renewables.seenews.com/news/acme-group-to-build-1-gw-of-solar-parks-in-india-report-388648
ACME TO BUILD 1 GW OF SOLAR PARKS IN INDIA. GOLDPOLY, CNPC TEAM UP ON 500-MW SOLAR BUY
The evidence supporting the researcher’s expectations for the Asia Pacific are many and the Press Trust of India provided another one on Sunday. It said that Indian energy solutions provider Acme Group intended to spend up to USD 1.43 billion (EUR 1.06bn) to construct 1 GW of solar farms in four to five years. The news agency quoted chairman and managing director Manoj Upadhyay as saying that by March 2014, Acme Group’s total solar power capacity will increase to about 100 MW from 18 MW currently.
Chinese solar cell maker Goldpoly New Energy (HKG:0686) and Kunlun Trust Co Ltd, a unit of China National Petroleum Corp (CNPC), revealed Tuesday a deal to jointly acquire 500 MW of solar power plants between 2013 and 2015. Under the plan, Goldpoly will take 60% and Kunlun will own the remaining 40% in the solar parks to be purchased. Details on the potential vendors or the specific solar power generation assets were not disclosed.
More details on: http://renewables.seenews.com/news/navigant-sees-annual-solar-pv-market-at-73-4-gw-in-2020-388513
and on: http://renewables.seenews.com/news/goldpoly-kunlun-team-up-on-500-mw-solar-acquisitions-plan-389072
CAYMANS COURT ACCEPTS SUNTECH’S LIQUIDATION FILING
Not all news from China were so positive as Chinese group Suntech Power Holdings Co Ltd (NYSE:STP) said Saturday that its application for provisional liquidation had been accepted by the Grand Court of the Cayman Islands. Restructuring liquidators from PriceWaterhouseCoopers will now collaborate with the managing board of the photovoltaics (PV) maker to “continue progressing a restructuring of the company.” It became clear that these same liquidators had informed Shunfeng Photovoltaic International Ltd (HKG:1165) that they have not approved any acquisition deals related to Wuxi Suntech Power Holdings. The news came days after Shunfeng’s plan to buy Wuxi Suntech for USD 492 million was approved at creditors’ and equity interests holder’s meetings on November 12.
More details on: http://renewables.seenews.com/news/caymans-court-accepts-suntech-s-liquidation-filing-388643
and on: http://renewables.seenews.com/news/shunfeng-says-no-wuxi-deal-approved-by-suntech-liquidators-389773
SOWITEC TO BUILD 200-MW WIND FARM IN RUSSIA
Within the wind power sector, newspaper Rossiyskaya Gazeta said last Friday that German wind farm developer Sowitec would construct a 200-MW wind park in Russia’s southeastern Rostov region. The project, valued at USD 180 million, envisages the installation of several dozen turbines at a former gambling zone in the town of Azov. The developer has already installed a met mast at the site that will measure the wind speed.
http://renewables.seenews.com/news/sowitec-to-build-200-mw-wind-farm-in-russia-report-388894
INFINIS' IPO CAN RAISE GBP 269.1M
To wrap up the week's top news, UK renewable energy firm Infinis Energy Plc (LON:INFI) said on Friday it had priced its initial public offering (IPO) at GBP 2.60 apiece (USD 4.18/EUR 3.11) which means it could raise up to GBP 269.1 million if over-allotments are exercised in full. The offer price values the company at GBP 780 million.
British private equity group Terra Firma sold 90 million shares, or some 30% of Infinis Energy's common stock in the London IPO.
More details on: http://renewables.seenews.com/news/infinis-ipo-can-raise-gbp-269-1m-389865
(USD 1 = EUR 0.744)
(GBP 1 = USD 1.607/EUR 1.195)
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