PEG BRICKLEY and ANNE STEELE for The Wall Street Journal: Solar-energy Company SunEdison Inc. on Thursday filed for chapter 11 bankruptcy protection, a dramatic move for a company whose market value stood at nearly $10 billion in July. SunEdison said its publicly traded entities, TerraForm Power Inc. and TerraForm GlobalInc., aren’t part of the filing. The two so-called yieldcos—separate entities that buy operating projects from developer SunEdison and pay out cash flow to their shareholders—said Thursday they believe they have sufficient liquidity to run their businesses and meet financial obligations, although SunEdison’s bankruptcy “will present challenges.” Bankruptcy has been a near-certainty for SunEdison for some time. The company borrowed heavily to buy up wind and solar developers, accumulating a pile of debt that worried investors. Disappointing earnings didn’t ease their fears about the pace of SunEdison’s growth, and an accounting move last year that reclassified more than $700 million worth of debt heightened anxieties. Cont'd...
BayWa r.e.'s national dealer network will have access to Spruce loan products that help them grow their businesses and empower consumers to control their energy choices.
Ben Walsh for The Huffington Post: There is a “substantial risk” that SunEdison may file for bankruptcy, the world’s largest renewable energy developer said in a regulatory filing on Tuesday. The company’s fall isn’t a referendum on the solar industry as a whole, as much as it is on SunEdison’s aggressive growth strategy fueled by excessive debt and financial engineering, analysts say. SunEdison “just thought they were smarter than everyone else,” said David Levine, the founder and CEO of Geostellar, a solar energy marketplace that has done deals with the company. The company’s shares have fallen steeply since they hit a high of $30 in July. They were at just $1.26 before the filing. The stock immediately dropped another 40 percent when the market opened after the filing, and the company was trading at just $0.59 by Tuesday lunchtime. “What happened from late-2014 to the middle of 2015, the company began embarking on a hyper-growth strategy,” S&P analyst Angelo Zino told The Huffington Post. Cont'd...
Partnership Pairs World's 2nd Largest Solar Manufacturer with Leading Loan Provider
The introduction of more DERs on utility systems and at customer sites provides support for increased reliability and resiliency, if appropriately located and properly configured.
2015 was also the highest ever for installation of renewable power capacity, with 64GW of wind and 57GW of solar PV commissioned during the year, an increase of nearly 30% over 2014.
Francois De Beaupuy for Bloomberg: Global Bioenergies SA, an unprofitable French maker of sugar-based gasoline, said oil’s recent slump to $35 a barrel is testing the financial viability of its technology even as it plans expansion in the U.S. “The economic case doesn’t stand with oil at $35, except when there’s a tax incentive” as in various European countries and the U.S., Chief Executive Officer Marc Delcourt said in an interview. Without tax breaks, the company would need Brent crude well above $100 a barrel, he said. Shares of Global Bioenergies, listed in Paris since 2011, have dropped more than 50 percent from their peak in May as oil’s collapse raised investor concern that biofuel makers couldn’t compete. Delcourt is counting on the end of European sugar production quotas in 2017 and changes in U.S. eating habits to keep the sweetener’s price low as it eyes additional capacity. Raw-sugar futures are trading at half their price five years ago. Cont'd...
Manny Salvacion for Yibada: Singapore-based real estate investment firm Redwood Group has recently launched a 248-kilowatt (KW) pilot project in China. The company also signed a power purchase agreement with New York-based solar developer UGE International and its financing partner, Hong-Kong's Blue Sky Energy Efficiency Co. Under the Redwood deal, UGEI and Blue Sky would lease rooftop space from Redwood to operate solar panels and then sell the electricity back to Redwood, the building owner, at prices lower than grid rates. "The time is right now for solar on rooftop in China because the cost of putting a system on the roof is becoming much more attractive," said Tianyu Sieh, chief executive of Blue Sky. UGEI and Blue Sky have also partnered with real estate services firm Jones Lang LaSalle in China to offer the same model to its commercial clients. Full article:
By Herman K. Trabish for UtilityDIVE: Solar photovoltaic (PV) installed capacity is expected to reach 7.7 GW in 2015, up 24% from 2014, according to the Solar Energy Industries Association (SEIA) and GTM Research. From July 2015 to December 2016, the report forecasts the U.S. solar PV marketwill add 18 GW, which is more than the cumulative capacity built by the industry up to the middle of 2014. But there are some headwinds for the sector. In a sign it has reached a level of maturity achieved recently by the wind industry, solar advocates now face an uphill political battle for the industry's most vital federal incentive The mandated term of solar's vital 30% federal investment tax credit (ITC), in place continuously since 2008, will end on December 31, 2016. Beyond that deadline, the tax credit provided at the end of a project’s first year of operation will fall to 10% for commercial investments in solar and to zero for residential solar investments. SEIA is mounting a multi-million dollar lobbying campaign to secure a five-year extension that will get the industry to 2020, when it hopes the Clean Power Plan can take over to help boost growth. Cont'd...
Midsummer granted a loan of 10 MSEK from Almi for continued development of thin film solar cell production equipment
The loan is meant to support Midsummer's focus on production and sales of the DUO machines used for the production of flexible thin film solar cells.
New Web-based Platform Brings Solar Campaign Opportunities Together Under One Umbrella
"This new investment is a vote of confidence in Eco Wave Power's technology, our team, and the global market potential of onshore wave energy."
Global clean energy provider, Shunfeng International Clean Energy, acquires majority share
Coldwell Solar continues to focus on core business policies, customer satisfaction, and a continued pursuit for innovation in the solar power industry.
Company to Install Approximately 1.5-Megawatt Solar Power System for Prominent Agricultural Organization
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The NeON R module features "Back Contact" cell technology delivering an entirely black panel that is aesthetically pleasing and energy efficient. The cell's seamless, surface blends perfectly into nearly all rooftop designs while the module's electrodes are positioned on the rear of the cell. Using LG's N-type cell structure, the panels produce 365W of energy, up to 7.3kWp, compared to 5.8kWp of the p-type cell. The module's new design minimizes LID, thereby delivering a longer lifespan and increased energy output.