Aquila Capital completes and sells second solar PV project in Japan

Aquila Capital (Hamburg, Germany) has completed the development of a photovoltaic (PV) project in Japan with an installed capacity of 38.4 MW and has sold it to a local institutional investor, the company announced on April 12^th, 2017.

Aquila Capital will manage the solar park for the duration of the term.

This is Aquila Capital’s second PV project since establishing a presence in Japan in 2012 and it underlines the company’s continuing commitment to this promising market. Aquila Capital focuses on acquiring PV projects at an early stage of development and further developing them from full approval or construction phase to sale.

“This investment reflects the current outlook in the Japanese photovoltaic market;” comments Boris Beltermann, responsible for Aquila Capital’s solar business in Japan.

“Market-ready projects are particularly interesting for local institutional investors, so developing projects that already have secured feed-in tariffs is an attractive strategy for our investors.”

More investments planned in Japan

The Japanese photovoltaic market remains active. Aquila Capital has built up resources and expertise in the country over the past few years and it will continue expanding its commitment.

The company’s strategy is to acquire early-stage PV projects with a volume of more than 150 MW and develop them until they are sufficiently mature for sale.

Even though a new feed-in tariff (FIT) system will come into effect as of April 2017, high remuneration levels remain valid for numerous projects that have already received prior approval. Regarding the latest project, Aquila Capital secured an attractive FIT of 40 Yen per kilowatt-hour through the earlier acquisition of the property area on which the PV system was developed. 

source: http://www.solarserver.com

Dubai Future Accelerators concludes 2nd round including solar-powered seawater desalination

The Dubai Future Foundation (DFF, UAE) concluded the second round of the Dubai Future Accelerators (DFA) with 28 Memorandums of Understanding (MoU) signed between Dubai government departments and innovative companies from around the world.

Twelve entities took part in the successful second round of the DFA program, which connects emerging technology companies with Dubai government bodies to test new approaches at the city- scale.

Amongst others, the Dubai Electricity and Water Authority (DEWA) signed an MoU with Desolinator to test a household desalination plant that uses solar energy to turn seawater into drinking water; other MoU's were signed with Mulk holding and SolarBanks. 

source: http://www.solarserver.com

Canadian Solar sells two PV plants in China totaling approximately 69.5 MW to Shenzhen Energy

Canadian Solar Inc. (Guelph, Ontario) on April 12^th, 2017 announced that its wholly-owned subsidiary, CSI New Energy Holding Co., Ltd. has completed the sale of two solar photovoltaic (PV) plants in China, totaling approximately 69.5 MW to Shenzhen Energy Nanjing Holding Co., Ltd., a subsidiary of Shenzhen Energy Group Co., Ltd., for approximately RMB687.1 million (USD 99.8 million).

The transaction was closed in March 2017 and the Company expects to recognize revenue from the sale of the plants when all revenue recognition criteria have been met.

"We are pleased to have closed the sale of two additional solar power plants in China to Shenzhen Energy," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

"We are well on track to monetize our operating solar power plants in China and other countries. Shenzhen Energy is an important strategic partner of Canadian Solar and we look forward to further expanding our strong partnership with them for more opportunities in the future." 

source: http://www.solarserver.com

Mercom Capital Group: Total corporate funding in solar sector rises to USD 3.2 billion in Q1, 2017

Mercom Capital Group (Austin, TX, U.S.) on April 10^th, 2017 released its report on funding and merger and acquisition (M&A) activity for the solar sector in the first quarter of 2017.

Total corporate funding (including venture capital funding, public market and debt financing) into the solar sector in Q1, 2017 doubled with USD 3.2 billion compared to USD 1.6 billion in Q4, 2016.

Year-over-year (YoY) funding in Q1, 2017 was about 15 percent higher compared to the USD 2.8 billion raised in Q1, 2016. 

Increased debt financing activity

“Q1 funding levels were up in the solar sector from the 2016 lows, largely due to increased debt financing activity. Corporate funding never reached USD 3 billion in any of the quarters in 2016. M&A activity was also strong with several large deals. Solar public companies also had a good first quarter,” commented Raj Prabhu, CEO of Mercom Capital Group.

Global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector saw a 78 percent rise this quarter with USD 585 million in 22 deals compared to USD 329 million raised in the same number of deals in Q4, 2016. The amount raised was also higher YoY compared to the USD 406 million raised in 23 deals in Q1 2016. 

A large part of the VC funding in Q1 2017 went to solar downstream companies; USD 548 million was raised in nine deals.

ReNew Power Ventures raised USD 200 million

Top VC deals included the USD 200 million raised by ReNew Power Ventures followed by the USD 155 million raised by Greenko Energy Holdings, the USD 125 million secured by Hero Future Energies, and then Silicon Ranch’s USD 55 million. A total of 23 VC investors participated in Q1 2017.

Solar public market financing came to USD 461 million in 13 deals in Q1, 2017, slightly lower compared to the USD 615 million (also in 13 deals) in Q4, 2016, but significantly higher compared to the same quarter of last year when USD 94 million was raised in four deals. There was one IPO in Q1 2017 by Clenergy compared to two in Q4 2016. 

Announced debt financing came in strong with USD 2.2 billion raised in 25 deals. In comparison, there were 10 deals in Q4, 2016 for a total of USD 610 million. YoY, USD 2.3 billion was raised in 19 deals in Q1, 2016. Most of the debt was raised by solar downstream companies.

Announced large-scale project funding in remained steady

In Q1, 2017, Solar Mosaic raised USD 139 million through the first securitization of its residential solar loan portfolio at a 4.45 percent interest rate. 

Announced large-scale project funding in Q1, 2017 remained steady with USD 2.6 billion in 33 deals compared to USD 3 billion in 38 deals in Q4, 2016. In a YoY comparison, USD 1.4 billion was raised in 24 deals in Q1, 2016.

Residential and commercial solar funds announced in Q1, 2017 dropped to USD 630 million in six deals compared to USD 1.5 billion in eight deals in Q4, 2016.

During the same quarter last year (Q1 2016), USD 1 billion was raised in six deals. Of the USD 630 million announced this quarter, USD 500 million went towards the lease/PPA model and USD 130 million went to loan funds. A total of more than USD 23 billion has now gone into residential and commercial funds since 2009.

There were 29 solar M&A transactions in Q1, 2017 compared to 20 transactions in Q4, 2016 and 14 transactions in Q1, 2016. Of the 29 total transactions in Q1, 2017, 20 involved solar downstream companies.

About 7.4 GW of solar projects acquired in Q1, 2017

There were 49 large-scale solar project acquisitions (18 disclosed for USD 1.9 billion) in Q1, 2017 compared to 73 transactions (23 disclosed for USD 2.1 billion) in Q4, 2016.

In a YoY comparison, there were 50 transactions (22 disclosed for USD 1.2 billion) in Q1, 2016. About 7.4 GW of solar projects were acquired in Q1, 2017 compared to 5 GW in Q4, 2016.

Investment firms and funds were the most active acquirers Q1, 2017, picking up about 21 projects totaling 2.8 GW, followed by project developers with nine transactions for 3.3 GW. Yieldcos had four transactions for 962 MW.

Mercom tracked 233 new large-scale project announcements worldwide in Q1, 2017 totaling 12.7 GW. 

source: http://www.solarserver.com

8.79 MW SunPower solar PV installation underway at New Toyota North America's headquarters

 

SunPower Corporation (San Jose, CA, U.S.) on April 10^th, 2017 announced that construction has begun on an 8.79 MW solar photovoltaic (PV) system at Toyota Motor North America's new headquarters in Plano, Texas, which the auto maker plans to occupy this year.

Close to one megawatt larger than originally planned, it is expected to be the Lone Star State's largest corporate office on-site solar installation among non-utility companies.

When complete, more than 20,000 PV panels will cover the area equal to 10 football fields, offering shade and protection to vehicles underneath.

The system is expected to generate enough solar power to offset approximately 33 percent of the headquarters' energy needs, reducing Toyota's reliance on traditional electricity from the grid.

Toyota is financing the SunPower solar PV project installed at its Plano, Texas, location through a power purchase agreement (PPA) arranged by SunPower. Toyota will own the renewable energy credits associated with the system. 

source:http://www.solarserver.com

Sembcorp wins wind power project in TN

 

Sembcorp’s renewable energy business in India has won a bid for a new wind power project of close to 250 megawatts capacity.

According to an official statement, Sembcorp Green Infra received a letter of award for the project following the country’s first national wind power tender, conducted by Solar Energy Corp of India,

The project will be located in Tamil Nadu and connected to the Central Transmission Utility. The project’s entire output will be sold to Power Trading Corporation under a 25-year long-term power purchase agreement.

The project is expected to be developed in phases and fully commissioned in the second half of the financial year ending March 31, 2019. The total project cost is estimated to be around Rs 1,900 crore (approximately S$405 million). This is expected to be funded through a mix of internal funds and debt, an official statement said. 

source: http://www.thehindubusinessline.com

ET Energy starts construction of a 19 MW solar PV project for Astronergy in Turkey

ET Solutions AG (Munich, Germany), a subsidiary of ET Energy, announced that it had started the construction of a 19 MW solar photovoltaic (PV) project in Turkey for Astronergy (Hangzhou, China), a PV module and smart energy provider.

Situated in Kahramanmaras, Osmaniye and Ankara, Turkey, 71,064 Astronergy PV modules will be installed on 29 hectares.

The project will be commissioned by the end of October, 2017, and its annual solar power generation will reach 37,000 MWh, reads the press release.

Acting as turn-key solar energy solutions provider, ET Energy has also signed a 2-year O&M services contract to secure a performance ratio of 80% and stable power generation for over 25 years, which gives rise to the reinforcement of local grid infrastructures.

"Our German engineering and expertise has once again helped us obtain the trust of customers and secure the grid-connection within a tight time frame," Dennis She, President and CEO of ET Energy said.

"Like we did in the past in Antalya projects, the highly delivered results is expected to surpass the targeted performance ratio."

"Astronergy is quite glad to work with ET Energy on this project. The high reliability of Astronergy's PV modules and the expertise of ET Energy will ensure the successful operation in the future. We have strong ambition to develop more solar power plants around the world," commented Dr. Chuan Lu, the CEO of Astronergy. 

source: http://www.solarserver.com

PV inverter manufacturer KACO new energy significantly upgrades its forecast for 2017

As of the end of March 2017, KACO new energy (Neckarsulm, Germany) had booked in orders for inverter capacity totaling 600 megawatts, the company announced on April 7^th, 2017.

According to KACO, the main reason for this excellent start to the year is the market launch of a new technology driver in the field of inverter technology, the blueplanet 50.0 TL3 INT, which has led to significant growth in the Middle East, Turkey and India.

“We laid the foundation for this strong first quarter back in 2016 with our technology, sales and marketing activities. We were very keen to establish long-term partnerships. The best example of this is the framework contracts that we have put in place both in Asia and in Turkey,” said managing partner Ralf Hofmann.

The total order quantity represents double what the company had booked in at the same point in 2016. In light of this, the annual forecast for the group as a whole is now approaching 2.5 gigawatts.

The head office in Neckarsulm is profiting from the continuously increasing demand for string inverters “Made in Germany”.

KACO new energy has been able to reap the benefits of this development primarily owing to the blueplanet 50.0 TL3 INT, which the company launched in mid-2016.

“Our equipment consistently meets the stringent requirements of European standards in respect of both electromagnetic interference and safety. This protects our customers from costly judicial and economic consequences that would otherwise occur when using considerably cheaper devices from other manufacturers,” managing partner Ralf Hofmann explained.

Nedret Ünlü, General Manager of KACO new energy Turkey, highlighted that: “Here, in the booming photovoltaics market in Turkey, we have been able to achieve a market share of 40 per cent through our strategy of consistent quality together with outstanding service.”

In the USA, the company is focusing primarily on central inverter solutions. Most in demand in this regard is the Integrated Power Station (IPS), which has all the accessories required for utility-scale power plant projects. The IPS is supplied from the factory in San Antonio, Texas.

source:http://www.solarserver.com