Oct 11, 2013 - This week Shunfeng makes bid for Wuxi Suntech stake, LM Wind says it expects to reach US headcount of 1,200 in 2014 and SolarCity agreed to buy Zep Solar Inc for USD 158 million, while the government of Pakistan’s Punjab province signs deal for 700-MW solar complex.
Shunfeng Photovoltaic International Ltd (HKG:1165) said Wednesday it was pursuing “certain equity interests” in Wuxi Suntech Power Holdings, the principal unit of Suntech Power Holdings Co Ltd (NYSE:STP) in China. The company has placed a bid with Wuxi Suntech’s administrator.
China-based Shunfeng makes solar cells, wafers and modules and also recently started developing solar projects. It explained that the possible acquisition corresponded to its growth strategy. Wuxi Suntech entered insolvency proceedings and restructuring in March.
More details on: http://renewables.seenews.com/news/shunfeng-pv-bids-for-wuxi-suntech-interest-382383
FIRST SOLAR SELLS PLANT, SOLARCITY BUYS ZEP, GOOGLE JOINS 265.7-MW SOLAR PROJECT
Across the North Pacific three important solar deals were unveiled this week. Suntech’s US peer First Solar Inc (NASDAQ:FSLR) on Wednesday said it had agreed to dispose of its non-functioning solar factory in Mesa, Arizona, for cash sale proceeds of over USD 100 million (EUR 74m). The plant was designed for the production of cadmium telluride photovoltaic (PV) modules but was never commissioned.
On the same day, US photovoltaic (PV) system installer SolarCity Corp (NASDAQ:SCTY) said it would buy solar installation hardware firm Zep Solar Inc for around USD 158 million in stock. The buyer explained that thanks to Zep Solar’s technology its crews had been able to double their installation speed.
On Thursday, Google (NASDAQ:GOOG) said it would invest about USD 103 million in Silver Ridge Power’s 265.7-MW Mount Signal solar project in California. The PV plant is currently being built in California’s Imperial county and is to be switched on next year.
More details on: http://renewables.seenews.com/news/first-solar-to-sell-arizona-pv-factory-382653
on: http://renewables.seenews.com/news/solarcity-agrees-usd-158m-deal-to-buy-zep-solar-382525
and on: http://renewables.seenews.com/news/google-puts-usd-103m-into-265-7-mw-california-solar-scheme-382892
LM WIND POWER TO ADD TO US WORKFORCE
The week started with good news on the US wind front as Danish wind turbine blade maker LM Wind Power said it expected to employ a total 1,200 people in the country next year. The company's headcount in the US has already increased to a little over 700 people in August from 350 in April. It keeps hiring in an effort to respond to higher demand.
The head of LM Wind Power’s US business, Bill Burga, commented that the market is gaining momentum after a period of uncertainty due to the last-minute extension of the Production Tax Credit (PTC). He stressed how important it is for “politicians [to] remain committed to securing a stable economic framework to enable continued industry growth and increased US employment”.
More details on: http://renewables.seenews.com/news/lm-wind-power-to-add-850-us-employees-382068
BETA RENEWABLES UNVEILS EUR 150M BIOETHANOL PLANT IN ITALY
On Wednesday, Beta Renewables, a company controlled by Italian chemicals group Mossi&Ghisolfi, opened a commercial-scale cellulose ethanol plant, the Crescentino bio-refinery in northern Italy, worth EUR 150 million. The facility has an annual production capacity of 75 million litres of bioethanol, earmarked for the European market. The technology deployed at the site transforms the cellulose and hemicellulose contained in non-food agricultural sources into simple sugars.
More details on: http://renewables.seenews.com/news/beta-renewables-unveils-eur-150m-bioethanol-plant-in-italy-382659
PAKISTAN TO START WORK ON 700-MW SOLAR PROJECT
Last but not least, daily the Nation said on Sunday that the government of Pakistan’s Punjab province had sealed a memorandum of understanding (MoU) with UK firm Pan Africa for the construction of a 100-MW solar park. The project represents a piece of the 700-MW Quaid-e-Azam photovoltaic (PV) complex in the Cholistan Desert. It is in line with the Pakistani government’s efforts to cope with energy shortage in the country through using conventional and renewable energy sources.
More details on: http://renewables.seenews.com/news/pakistan-to-start-work-on-700-mw-solar-project-report-381838
(USD 1 = EUR 0.737)
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