Oct 17, 2014 - This week, US firm SunEdison Inc said it will expand in China through a joint venture (JV) that aims to build up to 1 GW of utility-scale solar parks, GTM Research warned of global polysilicon overcapacity, again, as early as 2016, and Germany’s RWE pulled back from the 340-MW Galloper wind farm in UK waters.
One of the major news this week was US-based SunEdison Inc's (NYSE:SUNE) announcement of a solar JV with asset management company JIC Capital, part of China Jianyin Investment Corporation (JIC). The entity’s goal will be to finance and build up to 1 GW of utility-scale solar capacity in China over the next 3 years.
In addition, the US firm intends to build a large polysilicon production facility in China, president Ahmad Chatila told Bloomberg. SunEdison is currently holding talks with a Chinese firm to invest USD 2 billion (EUR 1.56bn) in the plant, which will have an annual manufacturing capacity of between 20,000 tonnes and 30,000 tonnes. It is also mulling a polysilicon base in Saudi Arabia.
More details at: http://renewables.seenews.com/news/sunedison-eyes-1-gw-of-solar-projects-in-china-with-new-jv-443381
and at: http://renewables.seenews.com/news/sunedison-plans-polysilicon-plants-in-chin-s-arabia-report-443514
GLOBAL POLYSILICON OVERCAPACITY MAY COME AGAIN, SOON
Just before SunEdison unveiled its ambitious plans, GTM Research said that polysilicon manufacturing capacity across the world is expected to rise to 481,000 tonnes in 2018, surpassing even the upper end of demand projections for 416,000 tonnes. The industry may once again face polysilicon overcapacity as early as 2016. At that time, the estimated minimum of photovoltaic (PV) installations needed to fill the gap between supply and demand is seen to be 60 GW.
More details at: http://renewables.seenews.com/news/gtm-warns-of-global-polysilicon-overcapacity-again-443193
WIND, SOLAR EPC MARKET IN US TO HIT USD 7.2BN IN 2015
Moving to the US, Bloomberg New Energy Finance (BNEF) said on Tuesday that the market for engineering, procurement and construction (EPC) services for utility-scale solar and wind in the country is projected to reach a peak of USD 7.2 billion in 2015. Then it is seen falling by 28% in 2016 and by a further 52% in 2017, the market analyst said.
More details at: http://renewables.seenews.com/news/wind-solar-epc-market-in-us-to-reach-usd-7-2bn-in-2015-bnef-443065
APEX EYES 200 MW OF ONSHORE WIND IN US, RENEXIA TO BET OFFSHORE
Remaining on the US market, wind and solar power developer Apex Clean Energy on Monday unveiled plans for the construction of a 200-MW wind farm in the state of New York. The developer plans to install between 60 and 75 turbines of 3 MW each on agricultural land in Niagara and Orleans counties.
Meanwhile, US Wind Inc said it will invest USD 2.5 billion to build an up to 1,450-MW wind farm off the coast of Maryland, after winning a lease from the US government. The firm, part of Italian renewable energy developer Renexia SpA, will install between 85 and 125 turbines.
More details at: http://renewables.seenews.com/news/apex-unveils-plans-for-200-mw-wind-project-in-new-york-443026
and at: http://renewables.seenews.com/news/italy-s-renexia-to-invest-usd-2-5bn-in-maryland-offshore-wind-farm-443555
RWE SCRAPS 340-GALLOPER WIND WHILE SKANSKA, ECOTRICITY PLAN 350-MW UK JV
On the British wind energy front came the news that German energy group RWE AG (ETR:RWE) has decided to discontinue the development of the 340-MW Galloper offshore wind farm. It said the withdrawal is a result of the “tight timescales” for securing financing and achieving accreditation under the UK’s Renewable Obligation mechanism.
On a more positive note, Swedish builder and project developer Skanska AB (STO:SKA-B) announced a JV with UK green energy supplier Ecotricity to jointly build 350 MW of wind farms in the UK within five years. The new entity, named Skylark, will invest up to USD 803 million in the project, Ecotricity said on Monday.
More details at: http://renewables.seenews.com/news/rwe-pulls-back-from-340-mw-galloper-offshore-wind-project-442557
and at: http://renewables.seenews.com/news/skanska-ecotricity-form-350-mw-wind-jv-in-uk-442811
SUZLON EYES USD 1.1BN FROM SENVION IPO
In Germany, Indian wind turbine maker Suzlon Energy Ltd (BOM:532667) may be aiming to raise almost USD 1.1 billion from the initial public offering (IPO) of its unit Senvion SE, according to a Press Trust of India (PTI) report from Sunday. On Monday, however, the company said in a statement that it is still only exploring the possibilities for a potential listing.
More details at: http://renewables.seenews.com/news/suzlon-eyes-usd-1-1bn-from-senvion-ipo-report-442555
and at: http://renewables.seenews.com/news/suzlon-says-just-exploring-senvion-ipo-options-443048
(USD 1.0 = EUR 0.782)
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Solar park in India built by SunEdison. Author: American Center Mumbai. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
