ONTARIO, CANADA: Canadian Solar Inc. today announced a broad strategic co-operation with one of China's largest power generation companies.
Under the far reaching agreement, Canadian Solar and the Guodian Power Development Co., Ltd. will design, invest, build, operate and maintain PV power plants in China.
As specified in the agreement, the two parties will work together as strategic partners in Gansu, Ningxia and Inner Mongolia first and will work to develop new markets in other provinces in the future.
Guodian Power Development Co. Ltd (listed on the Shanghai Exchange: 600795) is a subsidiary of state-owned China Guodian Corp., one of the five largest national power generation groups.
Guodian has power plants in 29 Chinese provinces, employing over 110,000 people. It engages in the development, investment, construction, operation and management of power generation assets, and the production and sales of electricity and heat.
By the end of June, 2009, Guodian's total installed capacity reached 7,490 MW, including 6,687 MW thermal, 471 MW hydro, and 325.6 MW wind power.
Jun Miu, vice president of Guodian Power Development Co., commented: "Guodian Power Development Co.'s target is to achieve 510 MW of installed PV capacity in China by 2012. We also have a strong interest in overseas expansion. Today's announcement with Canadian Solar is critical to our successful achievement of that goal.
"We are pleased to have a proven, financially strong and trusted partner like Canadian Solar, as Guodian Power Development moves forward in its important solar expansion effort. We are confident that working together, we can build a complete PV industry supply chain and a strong partnership."
Dr. Shawn Qu, Chairman and CEO of Canadian Solar, commented: "We are proud to partner with Guodian Power Development and to reach a formal cooperation agreement with them in China. Our target is to become the leading supplier for Guodian Power Development's anticipated 400 MW to 500 MW of PV projects in China and support its overseas expansions.
"Recent policies supporting the PV industry announced by Chinese Government have paved the way for us to grow in the Chinese PV market as we further diversify our revenue base. Canadian Solar's anticipated ramp up in module production capacity of 820MW this quarter will prepare us for near term production growth.
"This broad partnership with Guodian Power Development underscores the success Canadian Solar has achieved worldwide and sets the stage for the next phase of our growth in China."
Under the agreement, Canadian Solar and Guodian Power Development will initially form a joint venture focusing on PV power plant, with Guodian Power Development holding a majority interest in the proposed PV power plant projects. Canadian Solar will have first right to sell modules and EPC services to the joint venture at market pricing.
The agreement initially calls for two grid-connected PV power plants in Ningxia: One project targets 50 MW total installed capacity, with a first phase of 10 MW. A second project will also have a first phase of 10 MW, with further expansions later. The Ningxia PV power plants are designed to establish a scalable model for future business development between Guodian Power Development and Canadian Solar.
Showing posts with label PV power plants. Show all posts
Showing posts with label PV power plants. Show all posts
Friday, August 7, 2009
Wednesday, April 22, 2009
First Solar, Juvi secure financing for 53MW PV power plant in Germany
TEMPE, USA: First Solar Inc. and Juwi Holding AG announced that they have secured financing for a 53 megawatt (MW) DC photovoltaic (PV) power plant near the German city of Cottbus.
More than 80 percent of the required project capital is financed through non-recourse debt from a consortium of banks. First Solar and Juwi intend to sell the majority of the project after its completion. Construction of the project began in January 2009, and the first 15MW have been completed. The remaining 38MW are scheduled to be completed by the end of 2009.
The project is being constructed on 162 hectares of land that is part of the Soviet Army's former 26,000 hectare Lieberose training area north of Cottbus in eastern Germany. The project's low cost enables the required return to fund an attractive land lease for the State of Brandenburg. The lease, in turn, finances the environmental cleanup of this former military zone, which is littered with tons of land mines, grenades and other munitions.
Matthias Platzeck, minister president of the German state government of Brandenburg, where Lieberose is located, said the project is a model for the conversion of former military land to productive use. "This kind of project helps us heal the scars of the Cold War and meet our ambitious targets for renewable energy production at the same time," he said.
"First Solar's mission is to enable a world powered by clean, affordable solar electricity," said Stephan Hansen, managing director, First Solar GmbH. "This project alone is expected to displace approximately 35,000 tons of C02 emissions a year. But we are particularly proud of this project because it adds an additional element to 'clean.' Not only will the project produce clean electricity, but it will also result in the removal of hazardous munitions from this project site."
Upon completion, the PV power plant will consist of approximately 700,000 modules and is projected to be the largest in Germany, producing enough power to provide for the annual electricity needs of more than 14,000 homes, and the second largest worldwide.
"The sheer size of the project helps us achieve economies of scale that are a significant factor in helping PV energy become competitive with fossil fuels and to be able to provide an increasing contribution to national renewable energy targets," said Hansen.
Brandenburg Economics Minister Ulrich Junghanns said the project underlines the state's credentials as an energy producer. "The Lieberose project will shine far and wide and help Brandenburg solidify its top billing as a center of solar power production," he said.
Matthias Willenbacher, Juwi chief executive, said, "Large projects like this one demonstrate that solar power is already capable of making significant contributions to addressing climate change." With this project, Juwi, using First Solar modules, has developed the three largest PV power plants in Germany.
More than 80 percent of the required project capital is financed through non-recourse debt from a consortium of banks. First Solar and Juwi intend to sell the majority of the project after its completion. Construction of the project began in January 2009, and the first 15MW have been completed. The remaining 38MW are scheduled to be completed by the end of 2009.
The project is being constructed on 162 hectares of land that is part of the Soviet Army's former 26,000 hectare Lieberose training area north of Cottbus in eastern Germany. The project's low cost enables the required return to fund an attractive land lease for the State of Brandenburg. The lease, in turn, finances the environmental cleanup of this former military zone, which is littered with tons of land mines, grenades and other munitions.
Matthias Platzeck, minister president of the German state government of Brandenburg, where Lieberose is located, said the project is a model for the conversion of former military land to productive use. "This kind of project helps us heal the scars of the Cold War and meet our ambitious targets for renewable energy production at the same time," he said.
"First Solar's mission is to enable a world powered by clean, affordable solar electricity," said Stephan Hansen, managing director, First Solar GmbH. "This project alone is expected to displace approximately 35,000 tons of C02 emissions a year. But we are particularly proud of this project because it adds an additional element to 'clean.' Not only will the project produce clean electricity, but it will also result in the removal of hazardous munitions from this project site."
Upon completion, the PV power plant will consist of approximately 700,000 modules and is projected to be the largest in Germany, producing enough power to provide for the annual electricity needs of more than 14,000 homes, and the second largest worldwide.
"The sheer size of the project helps us achieve economies of scale that are a significant factor in helping PV energy become competitive with fossil fuels and to be able to provide an increasing contribution to national renewable energy targets," said Hansen.
Brandenburg Economics Minister Ulrich Junghanns said the project underlines the state's credentials as an energy producer. "The Lieberose project will shine far and wide and help Brandenburg solidify its top billing as a center of solar power production," he said.
Matthias Willenbacher, Juwi chief executive, said, "Large projects like this one demonstrate that solar power is already capable of making significant contributions to addressing climate change." With this project, Juwi, using First Solar modules, has developed the three largest PV power plants in Germany.
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