WFW joins forces with renewable energy leaders to achieve USD 1.2 trillion global solar investment by 2030

International law firm Watson Farley & Williams (WFW, London, UK) on August 10^th, 2016 announced that it has joined the Solar Energy Standardisation Initiative which aims to spur the development of solar power worldwide by harmonising documentation and procedures to streamline the development and financing of solar projects.

The Initiative was launched by the International Renewable Energy Agency (IRENA) and global non-profit organisation Terrawatt Initiative to support the country commitments submitted under the Paris Agreement to attract roughly USD 1.2 trillion in solar energy investment by 2030.

To reach this target, governments must implement efficient regulatory schemes that enable massive development of solar projects – with minimal risk – and allow private investors to enter the market at scale. There is also a need to reduce transaction costs so that solar power can penetrate more markets worldwide, reads the press release.

Public, private sector stakeholders to jointly agree on a standard template for solar project documents

The Initiative brings together a broad range of public and private solar industry stakeholders to jointly define and agree on a standard template for solar project documents.

WFW Paris partners Laurence Martinez-Bellet and Laurent Battoue will contribute their solar sector legal expertise on a pro bono basis together with other leading energy, finance and regulatory specialists.

“We are very much looking forward to this constructive collaboration to promote competitive solar power generation,” comments Laurence Martinez-Bellet.

“We believe that renewable energy help meet the growing need for electricity across the world, particularly in emerging markets. Standardised documentation and practices will allow transaction times and costs to be significantly reduced thus ensuring more attractive investment conditions”.

Laurent Battoue adds: “The Solar Energy Standardisation Initiative is very ambitious. We are excited to be working jointly with industry leaders to define the most appropriate regulatory frameworks to facilitate energy access, regardless of the geography, while addressing climate change issues”. 

source: http://www.solarserver.com

centrotherm photovoltaics announces H1, 2016 results; Management Board confirms outlook

centrotherm photovoltaics AG (Blaubeuren, Germany) increased sales in its core segment Photovoltaics & Semiconductor from EUR 38.4 million to EUR 42.0 million in the first half of 2016.

Total operating revenue in this segment rose in the same period by 27 % to EUR 55.9 million. Earnings before interest and taxes (EBIT) were once again positive, standing at EUR 1.1 million.

Photovoltaics and semiconductor orders almost trebled

The cost reduction and efficiency program launched in 2014 together with the excellent order book had an effect on operating earnings in the first half of 2016, the company emphasizes.

As a leading technology and systems supplier, centrotherm was able to almost treble its order intake in its core segment compared with the same period in the previous year. New orders totaling EUR 85.4 million were received from the photovoltaics and semiconductor industry (same period in previous year: EUR 29.5 million).

In the Thin Film & Customized Equipment segment, sales rose marginally to EUR 7.6 million following EUR 7.5 million in the same period in the previous year. In this segment, too, the centrotherm Group succeeded in improving its EBIT performance slightly from EUR -0.5 million to TEUR 84.

Lower revenues in the Silicon segment

Revenues in the Silicon segment were, as expected, lower than in the comparative period due to the progress of construction in the major project in Qatar.

Sales in the first six months of 2016 amounted to EUR 12.3 million following EUR 40.1 million in the comparative period. EBIT was significantly below the figure for the previous year, standing at EUR -2.9 million.

However, the figure for the previous year benefited from the one-time effect of billing a customer project amounting to EUR 8.2 million. Restructuring measures were initiated in the first half of 2016 at the subsidiary SiTec which operates in the Silicon segment, and these have already been partially completed.

The strategic focus of the company from Augsburg continues to be on fulfilling the major contract in connection with the construction of a polysilicon factory in Qatar.

At a consolidated level, the growth seen in the Photovoltaics & Semiconductor and the Thin Film & Customized Equipment segments was not able to make up for the half-year results in the Silicon segment. Consolidated sales in the first half of 2016, therefore, fell to EUR 61.9 million following EUR 86.0 million in the same period in the previous year.

Total operating revenue for the centrotherm photovoltaics Group amounted to EUR 75.9 million following EUR 91.7 million in the comparative period. Group EBIT in the first half of 2016 stood at EUR -1.7 million after EUR 10.6 million in the comparative period. Consolidated earnings amounted to EUR -2.1 mil-lion following EUR 6.7 million in the comparative period in the previous year.

New order intake; Order book increased to EUR 142.6 million

In the first six months of the 2016 financial year, centrotherm was able to significantly increase its order intake to EUR 89.5 million compared with EUR 46.6 million in the same period in the previous year. The Group's order book as at June 30, 2016 had increased to EUR 142.6 million compared with EUR 113.5 million as at December 31, 2015.

Unaltered outlook for the current 2016 financial year

The Management Board is confident that the 2016 forecast that it issued in the 2015 annual report can be achieved. The revenue target for the centrotherm Group lies between EUR 120 million and EUR 150 million.

New order intake during the first six months of 2016 in the Photovoltaics & Semiconductor segment will make a significant contribution to attaining this goal.

In the Silicon segment, the revenue expected for 2016 lies significantly below that of 2015. This is due to the exclusive strategic focus on the large-scale project in Qatar and its related revenue reduction, in turn reflecting the progress we have achieved with its construction. Overall, the Management Board anticipates at least breakeven at the consolidated net result level. The company continues to aim to achieve the latter through consistent efficiency enhancement and cost structure optimization.

 source:http://www.solarserver.com

IHS Markit names Trina Solar, SunPower, First Solar, Hanwha Q-cells and JinkoSolar as leaders in PV module supplier scorecard 2016

In a new scorecard reviewing the solar photovoltaic (PV) module sector, Trina Solar, SunPower, First Solar, Hanwha Q-cells and JinkoSolar were all identified as this year’s industry leaders.

Each of these companies garnered above average scores for both market presence and market momentum, according to the ranking from IHS Markit (London, UK).

“IHS Markit evaluated the largest module suppliers based on nine different metrics to arrive at the overall scores,” said Edurne Zoco, senior manager, solar research at IHS Technology.

“This scorecard takes into account a company’s current market and financial position, as well as its potential to cope with the next wave of challenges faced by the solar industry.”

Trina Solar scored highest in market presence

According to the 2016 IHS Markit “PV Module Supplier Scorecard”, Trina Solar scored highest in market presence, receiving high scores in nearly all categories due to its leading global market share, completeness of its product offering, strong position in all major regions and brand perception.

Hanwha Q-cells and JinkoSolar also scored highly in market presence, recording consistently elevated scores in most categories.

First Solar ranked first in market momentum

Looking to the future, First Solar ranked first in market momentum, mainly due to the rapid growth within its regional market, spending on research and development, and market-share growth. First Solar ranks lower on market presence, due to its limited regional presence and limited breadth of its product offering.

Trina Solar ranked second in market momentum, thanks to the company’s market-share growth, regional growth position and technology innovations.

Among the solar PV module industry leaders, SunPower also received high scores for market momentum because a high proportion of the company’s revenues are spent on research and development. Other keys to its high score were its regional growth and technology innovation score.

REC Solar, GCL System, and LG Electronics placed within the group of “Challengers”

REC Solar and GCL System scored highly for market momentum, largely due to technology innovation and regional growth, but their market presence score was restricted by lower ratings on current regional presence and lower global market share.

Both companies were placed, jointly with LG Electronics, within the group of “Challengers” in the scorecard report - which indicates higher scores on market momentum than on market presence and relates to their potential to become leaders within the solar industry.

Although Canadian Solar was not categorized as a leader, due to a relatively low score for market momentum, the company recorded the second-highest market presence score - largely due to its broad regional presence, strong brand, and the wide breadth of its product offering, both upstream and downstream. 

source: http://www.solarserver.com

First Solar connects 130 MW of utility-scale PV to the grid in India

First Solar, Inc. (Tempe, AZ, US) Indian subsidiary First Solar Power India Pvt. Ltd. (New Delhi) on August 10^th, 2016 announced the successful commercial operation of 80 MW_AC and 50 MW_AC solar photovoltaic (PV) capacity in Andhra Pradesh and Telangana respectively.

These PV projects are part of the 260MW_AC project portfolio wholly owned by First Solar in India, the company notes.

“After achieving a recent milestone of 1GW of PV solar capacity footprint in India, we are delighted to add 130 MW_AC of Utility-Scale Solar Power to the Grid, growing our portfolio of operational solar assets to a cumulative capacity of 150 MW_AC,” said Sujoy Ghosh, First Solar’s Country Head for India.

“With the commissioning of these plants we have once again demonstrated our strong execution capabilities, and with First Solar’s module performance and reliability, the plants will provide the best possible return on investment.”

The 130 MW_AC plants collectively will produce enough energy to power approximately 227,500 average homes in India.

The project will be powered by more than 1.4 million First Solar PV modules which have been independently tested to pass accelerated life and stress tests beyond industry standards.

With both a superior temperature coefficient and superior spectral response, they have been independently certified for reliable performance in high temperature, high humidity, extreme desert, and coastal environments, the producer emphasizes.

Solar power from the PV projects will be purchased by the Southern Power Distribution Company of Andhra Pradesh and The Telangana State Southern Power Distribution Company Limited under 25 year power purchase agreements. 

source: http://www.solarserver.com

Greenbacker acquires a controlling interest in a USD 19.75 million residential solar PV portfolio

Greenbacker Renewable Energy Company LLC (New York) on August 10^th, 2016 announced that through a wholly-owned subsidiary it acquired a controlling interest in a 12.1 MW portfolio of 1,611 solar photovoltaic (PV) systems from a subsidiary of OneRoof Energy, Inc. (San Diego, CA, U.S.) for approximately USD 19,750,000.

The PV systems are located on residential rooftops across seven states, including California, New Jersey, Massachusetts, Maryland, New York, Hawaii and Connecticut.

Under the terms of the transaction, Greenbacker was appointed the managing member of “Greenbacker Residential Portfolio #1” and OneRoof will retain a residual interest and continue to perform general operation and maintenance functions.

Twenty-year solar PPAs

All of the solar power generated by the PV systems will be sold under twenty-year power purchase agreements (PPAs) to residential customers.

"Adding a large residential rooftop solar portfolio in partnership with OneRoof, who maintains an ongoing minority stake in the portfolio, adds significant diversification to Greenbacker's current portfolio of solar and wind assets," stated Charles Wheeler, CEO of Greenbacker.

"This segment of the market has become increasingly sophisticated and opportunities for securitization of these portfolios provide significant upside potential. As we continue to grow our portfolio of alternative energy assets, which now totals in excess of USD 100 million, we seek projects that will continue to broaden our revenue stream, providing more predictable returns for our investors."

"This transaction is consistent with our current plan to utilize capital to support strategic growth under our Solar 2.0 model, which is focused on being a low cost, capital-light, residential solar fulfilment platform, focused on partnering with scalable and low-cost sales partners," stated David Field, president and CEO of OneRoof.

MVP Capital acted as the exclusive financial advisor to OneRoof in arranging this transaction.

 source:http://www.solarserver.com

Mitsubishi Corporation invests in US solar PV company Nexamp

Mitsubishi Corporation (MC, Tokyo, Japan) has reached an agreement to invest in US-based distributed generation company Nexamp Inc. (North Andover, Massachusetts).

Nexamp is engaged in development, construction, operation and maintenance, as well as asset management for distributed solar Photovoltaic (PV) generation projects, with a record of developing some 50MW of energy across the US northeast.

The initiative is being executed through Diamond Generating Corporation (DGC), MC’s wholly owned subsidiary in the US.

The company is seeking to expand its presence in this growing business area. For its part, by engaging in the distributed solar power generation business as the Nexamp’s main shareholder, MC sees this new challenge as part of its overall aim to maximize corporate value through business expansion and the transformation of its business models, reads the press release.

As it develops and operates its power generation businesses globally as an independent power producer (IPP), Mitsubishttps://www.blogger.com/blogger.g?blogID=1210536265178080370#editor/target=post;postID=659822497189231946hi Corporation will continue to pursue new business models in keeping with the changes taking place in the business environment, the company notes. 

source: http://www.solarserver.com

SMA Solar Technology AG increases sales and earnings in first half of 2016

SMA Solar Technology AG (Niestetal, Germany) reported a positive business performance in the first half of 2016 in a photovoltaic (PV) market environment characterized by strong price pressure.

The SMA Group’s sales increased by 15.1% to EUR 494.1 million year on year (H1 2015: €429.3 million). EBIT was EUR 39.3 million (H1 2015: €-14.9 million).

The main earnings driver was the segment for large-scale PV power plants (Utility). The segment for commercial PV systems (Commercial) also reported a positive performance.

SMA sold PV inverters totaling 3.9 GW in H1, 2016

Thanks to its international positioning, SMA is continuing to benefit from the growth on foreign photovoltaic markets. The international share of sales was 91.1% in the first six months of 2016 (H1 2015: 87.2%). From January to June 2016, SMA increased its sold PV inverter output by 22.9% to 3.9 GW (H1 2015: 3.2 GW).

As a result of increased sales volumes and the fixed cost reduction, EBITDA improved considerably in the first half of 2016 to EUR 73.1 million (EBITDA margin: 14.8%; H1 2015: €21.3 million, 5.0%). Consolidated earnings amounted to EUR 19.4 million (H1 2015: €-21.4 million). Earnings per share thus amounted to EUR 0.56 (H1 2015: €-0.62).

Gross cash flow improved considerably in the reporting period to EUR 60.9 million (H1 2015: €-5.1 million). Net cash increased to €294.1 million (December 31, 2015: €285.6 million). With an equity ratio of 49.2% (December 31, 2015: 49.1%), SMA has a comfortable equity capital base and still has a solid balance sheet structure, the company emphasizes.

Managing Board confirms sales and earnings forecast

Against the backdrop of the consistently high order backlog of EUR 644 million and the expectation of stronger business in the second half of the year, SMA’s Managing Board is confirming the sales and earnings forecast for fiscal year 2016 published on January 29th, 2016.

This forecast anticipates sales of between EUR 950 million and EUR 1,050 million and a significant year-on-year increase in EBIT to between EUR 80 million and EUR 120 million.

The Managing Board notes that the upper end of the forecast earnings range is ambitious given the price developments in the solar industry.

Production locations in Denver and Cape Town to be closed

The Managing Board is anticipating a further intensification of price pressure in 2017 compared to the current year and, in light of this, is announcing the closure of the production locations in Denver, USA, and Cape Town, South Africa.

The aim of this is to sustainably improve the cost structure by consolidating the global infrastructure. The Managing Board is also planning targeted investments in technology development and is announcing further product innovations to bolster its market positioning. According to the Managing Board, the effects of the restructuring activities and the product innovations are expected to be seen in earnings within the next twelve months.

CEO Urbon: “The closure of our production locations in Denver and Cape Town was extremely difficult for us”

“The acceleration of price pressure in the solar industry has been unexpectedly strong in recent weeks. We therefore immediately initiated measures to lower our break-even point even further,” said SMA’s CEO Pierre-Pascal Urbon.

“The closure of our production locations in Denver and Cape Town was extremely difficult for us. However, this step is unavoidable if we are to lastingly counteract the persistent price pressure and to achieve better production capacity utilization in China and Germany in the future.

The American market remains highly important to us. We will be maintaining our presence at the Californian location in Rocklin with Sales and Service moving ahead as well, and we will further boost our leading position on the American market.

Moreover, we are planning to further expand our unique positioning with innovative solutions. For example, SMA will be presenting a compact system solution with integrated energy management for the rapidly growing Commercial market segment to the public at Solar Power International in Las Vegas in September 2016,” said Urbon.

The solar industry’s medium-term prospects are good for those companies emerging successfully from the consolidation phase, SMA notes.

“The cost of solar power generated by PV systems will at last be at a similar level to that of on-shore wind turbines before the end of the decade. This will mean entirely new growth prospects for highly flexible companies such as SMA,” stated Urbon.

  source:http://www.solarserver.com

Manz AG publishes report on the first six months of 2016: Negative 11.7 million EBIT

Manz AG (Reutlingen, Germany), a globally active high-tech equipment manufacturer with an extensive technology portfolio covering the three strategic business segments of "Electronics", "Solar (Photovoltaics)" and "Energy Storage," on August 11^th, 2016 published its financial report for the first six months of 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -4.5 million in the reporting period (previous year: EUR -6.7 million). Earnings before interest and taxes (EBIT) amounted to EUR -11.7 million (previous year: EUR -12.9 million).

Consolidated net loss came to EUR -17.0 million (previous year: EUR -15.0 million), corresponding to earnings per share of EUR -2.84 (previous year: EUR -2.94).

Order stop by a major customer

Following a good start to the year in the first three months of 2016, in the second quarter the company was confronted with the preliminary order stop by a major customer on short notice.

At the same time, however, with the successfully completed capital increase and the investment by Shanghai Electric in Manz AG, an important strategic milestone was achieved, and a sound foundation was created for the company to develop positively in the future again.

"We have had a good start into the year and initially were also able to continue this development in the second quarter. Our operating business showed a slight upturn which could be felt in revenues of around EUR 124 million,” comments Dieter Manz, CEO and founder of Manz AG.

“With our restructuring measures, we have successfully implemented the first steps for lowering our cost basis. But unfortunately the preliminary order stop of a major customer in the Energy Storage business segment caught us off guard, and therefore we are missing revenue in the middle single-digit millions range. This resulted in a negative EBITDA in the first six months of EUR -4.5 million."

Managing Board expects a significant increase in revenues

The Managing Board continues to be confident on the development in the second half-year. This is based essentially on the strategic cooperation with Shanghai Electric. The detailed planning for the future cooperation is on schedule, the company notes. Manz AG expects, that it will be able to report specifically on the next steps during the course of the third quarter.

Overall, the Managing Board therefore expects a significant increase in revenues with significantly improved earnings before interest and taxes (EBIT) for the full year.

However, above all there are planning uncertainties due to the ongoing customer discussions in connection with the order stop in the Energy Storage business segment.

Solar PV segment significantly increases share in total revenues

At EUR 49.8 million, the Electronics segment realized 40.2% of total revenues in the reporting period (previous year: EUR 42.3 million or 34.7%).

After six months the Solar PV segment had generated around EUR 17.5 million or 14.1% of Manz AG's total revenues (previous year: EUR 10.6 million or 8.6%).

The Energy Storage segment accounted for a EUR 34.9 million share of revenues or 28.1% in the reporting period (previous year: EUR 49.7 million or 41.0%) with equipment for the production of lithium-ion batteries and capacitors.

The Contract Manufacturing reporting segment was responsible for revenue contributions of EUR 15.0 million or 12.1% (previous year: EUR 14.2 million or 11.6%).

Revenues in the reporting segment Others totaled EUR 6.9 million, following EUR 5.2 million in the prior-year period; this corresponds to a revenue share of 5.5%, following 4.1% in the first two quarters of 2015. 

source: http://www.solarserver.com