- Press Releases
(SeeNews) - Dec 12, 2014 - Over the past week Shanghai Electric unveiled plans to build 300 MW of wind and solar projects in Malta and the EU, Hanwha SolarOne agreed to merge with German Q Cells, and Britain said yes to the 1.2-GW Hornsea 1 offshore wind proposal.
Chinese power producer Shanghai Electric Power Co Ltd (SHA:600021) said Saturday it will partner with Malta-based renewable energy firm Enemalta Plc for a series of investments. Their joint plans involve 100 MW of solar and 200 MW of wind farms to be built Malta and the European Union (EU) over three years.
The Chinese firm's move to Malta was followed by news that a number of Russian companies wish to install a 100-MW solar power plant in Sialkot, in the Pakistani province of Punjab.
US INSTALLS 1.4 GW OF PV IN Q3
Turning our attention to more mature solar energy markets, we see that the USA installed 1,354 MW of fresh photovoltaic (PV) capacity in the third quarter of 2014, up 41% in annual terms. It thus raised the cumulative to 16,100 MW. July-September 2014 was the second strongest quarter on record for PV additions in the country.
CHINA-MADE PV PRODUCTS FACE PROBES IN CANADA
A bit to the north, the Canada Border Services Agency (CBSA) is starting an investigation into Chinese imports of PV modules and laminates. It said that Canada-based solar product makers are blaming Chinese imports for lost sales, reduced production, job cuts and insolvencies.
CBSA will issue a preliminary decision on March 5, 2015.
SHARP TO SHED US SOLAR OPS TO CANADIAN SOLAR, MERGER OF HANWHA SOLARONE WITH Q CELLS
Two big M&A transactions in the solar sector were also announced over the week. Japanese group Sharp Corp (TYO:6753) intends to sell its US solar unit Recurrent Energy to Canadian Solar Inc (NASDAQ:CSIQ), while China’s Hanwha SolarOne Co Ltd (NASDAQ:HSOL) has struck an all-stock deal to buy Hanwha Q Cells in Germany.
If the first deal is finalised, Sharp will exit the solar market in North America. Recurrent Energy owns a solar project pipeline of some 3.3 GW and has more than 1.1 GW of power purchase agreements (PPAs).
The combination of Hanwha SolarOne and Q Cells, on the other hand, will create a solar cell maker with a production capacity of 3.28 GW. The combined business generated a total revenue of about USD 733 million (EUR 590m) in the six months to June 30, 2014.
AELA ENERGIA SECURES PPAS FOR 343 MW OF WIND IN CHILE
On the wind energy front a joint venture between private equity investor Actis and Ireland-based Mainstream Renewable Power won 15-year power purchase agreements (PPAs) for 343 MW of wind farms in Chile. Aela Energia will invest some USD 860 million in the projects.
UK GOVT CLEARS 1.2-GW HORNSEA 1 OFFSHORE WIND PROJECT, DONG BUYS 215 MW
Mainstream Renewable got another reason to cheer in the middle of the week as the UK government gave its nod to the 1,200-MW Hornsea 1 wind project. The Irish company is partnering with Siemens Project Ventures and Dong Energy on the project.
Meanwhile on Tuesday, Danish state-owned utility Dong said it had acquired the Borkum Riffgrund West 2 offshore wind scheme of at least 215 MW from German sector player Energiekontor AG.
CHINA’S NEA PRESENTS 10.5-GW OFFSHORE WIND PLAN
Last but not least, China’s National Energy Administration (NEA) today released a 10.53-GW offshore wind plan for the 2014-2016 period, which envisages the development of a total 44 wind projects at sea. To achieve the target, NEA is calling on local governments, power utilities, construction and equipment manufacturing companies to back the projects by facilitating approval procedures and through simplifying the construction and management process.