BEDFORD, USA: Spire Corp., a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic (PV) modules, cells, and solar systems worldwide, announced that its senior management will attend the 3rd Renewable Energy India 2009 Expo in Pragati Maidan, New Delhi, India from August 10th through 12th, 2009 at Hall 10, Booth S16.
According to its website, the 3rd Renewable Energy India 2009 Expo is the melting pot for global technologies. It is a platform to provide value for the domestic industry and showcase opportunities in the Indian market for global players.
It is a forum to nurture business contacts, imbibe the latest technology trends, cultivate business relations and prepare for the exponential growth of renewables in India.
Showing posts with label solar systems. Show all posts
Showing posts with label solar systems. Show all posts
Wednesday, August 5, 2009
Tuesday, June 30, 2009
SunPower, Wells Fargo to finance $100mn in solar projects
SAN FRANCISCO & SAN JOSE, USA: Wells Fargo and SunPower Corp. have announced a new, collaborative effort to fund up to $100 million in SunPower commercial-scale solar systems.
Under the financing program, SunPower will enter into power purchase agreements with qualified customers and Wells Fargo will finance the solar power systems that SunPower will design, build, operate, and maintain.
Customers hosting the systems will buy the electricity from SunPower at prices that are competitive with retail rates, providing them with a long-term hedge against rising power prices and the ability to take advantage of the environmental and financial benefits of solar power with no initial capital investment.
"We see increasing opportunities over the next several years to support renewable energy markets," said Barry Neal, director of Wells Fargo's Environmental Finance. "By teaming up with SunPower, we intend to support growth in the solar energy market by making it easier and more affordable for businesses and public entities to benefit from solar electricity today."
The first projects financed under the program include a 1.1-megawatt system for University of California, Merced, and a 1-megawatt system for the Western Riverside County Regional Wastewater Authority.
Scheduled for completion by year end, both will be ground-mounted systems using the patented SunPower T20 Tracker technology, which follows the sun throughout the day and delivers up to 30 percent more energy than fixed-tilt ground systems.
"SunPower offers high performance solar technology and financing expertise that helps customers maximize savings on their electricity expenditures. Our relationship with Wells Fargo strengthens our project finance efforts, streamlining the implementation of clean, renewable solar power for SunPower's large commercial and public customers throughout the US," said Mac Irvin, managing director of SunPower's structured finance group.
SunPower has more than 500 large public and commercial solar power systems installed or under contract, representing more than 400 megawatts. The company pioneered the use of solar power purchase agreements in 2000.
Wells Fargo has provided more than $1.75 billion in financing for renewable energy projects since 2006. That includes funding for 27 wind projects, more than 150 commercial-scale solar projects and 1 utility-scale solar thermal project.
Under the financing program, SunPower will enter into power purchase agreements with qualified customers and Wells Fargo will finance the solar power systems that SunPower will design, build, operate, and maintain.
Customers hosting the systems will buy the electricity from SunPower at prices that are competitive with retail rates, providing them with a long-term hedge against rising power prices and the ability to take advantage of the environmental and financial benefits of solar power with no initial capital investment.
"We see increasing opportunities over the next several years to support renewable energy markets," said Barry Neal, director of Wells Fargo's Environmental Finance. "By teaming up with SunPower, we intend to support growth in the solar energy market by making it easier and more affordable for businesses and public entities to benefit from solar electricity today."
The first projects financed under the program include a 1.1-megawatt system for University of California, Merced, and a 1-megawatt system for the Western Riverside County Regional Wastewater Authority.
Scheduled for completion by year end, both will be ground-mounted systems using the patented SunPower T20 Tracker technology, which follows the sun throughout the day and delivers up to 30 percent more energy than fixed-tilt ground systems.
"SunPower offers high performance solar technology and financing expertise that helps customers maximize savings on their electricity expenditures. Our relationship with Wells Fargo strengthens our project finance efforts, streamlining the implementation of clean, renewable solar power for SunPower's large commercial and public customers throughout the US," said Mac Irvin, managing director of SunPower's structured finance group.
SunPower has more than 500 large public and commercial solar power systems installed or under contract, representing more than 400 megawatts. The company pioneered the use of solar power purchase agreements in 2000.
Wells Fargo has provided more than $1.75 billion in financing for renewable energy projects since 2006. That includes funding for 27 wind projects, more than 150 commercial-scale solar projects and 1 utility-scale solar thermal project.
Friday, June 26, 2009
Spire secures expanded $8mn revolving credit facility
BEDFORD, USA: Spire Corp., a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic (PV) modules and solar systems worldwide, announced that it has amended its current Revolving Credit Facility.
In addition to the amended $3 million facility, the Company has added an additional $5 million revolver under an Export-Import Credit Facility which is backed by a guarantee from the Export-Import Bank of the United States.
The existing Equipment Credit Facility will be retained with no additional funds available under that line. In the aggregate, the Company will have availability of up to $8 million over the next year.
Roger G. Little, Chairman and CEO of Spire, commented: "We are pleased to receive these credit facilities, which improve our liquidity to support our growth. Silicon Valley Bank has been a good financial partner. Even with the tough banking environment, we were also able to increase the loan availability with the assistance of the guarantee offered by Ex-Im Bank."
“Spire is well positioned in the growing PV solar renewable market,” said Jay T. Tracy of Silicon Valley Bank’s Boston office. “We are glad we are able to renew our commitment to the Company and help it meet its growth objectives, particularly in such a challenging economy.”
In addition to the amended $3 million facility, the Company has added an additional $5 million revolver under an Export-Import Credit Facility which is backed by a guarantee from the Export-Import Bank of the United States.
The existing Equipment Credit Facility will be retained with no additional funds available under that line. In the aggregate, the Company will have availability of up to $8 million over the next year.
Roger G. Little, Chairman and CEO of Spire, commented: "We are pleased to receive these credit facilities, which improve our liquidity to support our growth. Silicon Valley Bank has been a good financial partner. Even with the tough banking environment, we were also able to increase the loan availability with the assistance of the guarantee offered by Ex-Im Bank."
“Spire is well positioned in the growing PV solar renewable market,” said Jay T. Tracy of Silicon Valley Bank’s Boston office. “We are glad we are able to renew our commitment to the Company and help it meet its growth objectives, particularly in such a challenging economy.”
Monday, May 4, 2009
Solar Power completes one of Georgia’s largest solar systems and second solar site for Cox
ROSEVILLE, USA: Solar Power Inc. has completed the installation of another photovoltaic (“PV”) energy system for Cox Enterprises, Inc. at its Manheim DRIVE Center facility.
The facility is a first-of-its-kind innovation center for automotive remarketing consisting of 165,000 square feet of space that serves as a place for the company to test new ideas and technologies, as well as for events and training sessions. The site also processes the sales of 1,100 automobiles per day through live and video auctions. The innovation and auction facility is located in Stockbridge, Georgia. According to Georgia Power, the 112 kilowatt DC (“kW”) system will be the largest commercial photovoltaic solar system in the state of Georgia.
This is the second in a series of PV solar systems SPI has designed and installed for Cox Enterprises, and also represents another major stride for the Cox national environmental initiative, Cox Conserves. Cox Enterprises put the company-wide sustainability initiative in place to reduce the company’s carbon footprint or greenhouse gas emissions 20% by the year 2017. The initiative also calls for 10 percent of companywide electric energy to come from renewable energy forms. PV solar plays an important role in helping the company achieve its goals.
“We are very happy to continue working with Cox Enterprises as they roll out their national program embracing sustainable and renewable practices. This is the second major system we have executed for them and we have similar projects underway to help them further advance their Cox Conserves initiative,” said Bradley Ferrell, President of Solar Power, Inc.’s commercial development division. “Cox Enterprises is a leader among the growing number of corporations who have begun to embrace and deploy sustainability initiatives and lead by example in the process. It is a privilege to continue to work with the Cox team as we help them achieve their economic goals and environmental initiatives through photovoltaic solar systems at their facilities across the United States.”
The 112 kW system is Cox Enterprises’ second commercial-grade photovoltaic installation and features 560 200-watt roof-mounted solar modules covering 10,000 square feet, and a highly efficient 95-kilowatt inverter. “Just as when we installed the 100.8 kW system for the company’s Cox Communications division cable telecommunications facility in Rancho Santa Margarita, California, we worked closely with the Cox team to ensure a seamless integration of the system without any interruption in operations. We were able to complete both of these projects on time and on budget,” said Ferrell. “We look forward to identical outcomes for additional projects as we continue to work together toward advancement of their Cox Conserves program throughout all of their areas of operation across the country,” Ferrell concluded.
The facility is a first-of-its-kind innovation center for automotive remarketing consisting of 165,000 square feet of space that serves as a place for the company to test new ideas and technologies, as well as for events and training sessions. The site also processes the sales of 1,100 automobiles per day through live and video auctions. The innovation and auction facility is located in Stockbridge, Georgia. According to Georgia Power, the 112 kilowatt DC (“kW”) system will be the largest commercial photovoltaic solar system in the state of Georgia.
This is the second in a series of PV solar systems SPI has designed and installed for Cox Enterprises, and also represents another major stride for the Cox national environmental initiative, Cox Conserves. Cox Enterprises put the company-wide sustainability initiative in place to reduce the company’s carbon footprint or greenhouse gas emissions 20% by the year 2017. The initiative also calls for 10 percent of companywide electric energy to come from renewable energy forms. PV solar plays an important role in helping the company achieve its goals.
“We are very happy to continue working with Cox Enterprises as they roll out their national program embracing sustainable and renewable practices. This is the second major system we have executed for them and we have similar projects underway to help them further advance their Cox Conserves initiative,” said Bradley Ferrell, President of Solar Power, Inc.’s commercial development division. “Cox Enterprises is a leader among the growing number of corporations who have begun to embrace and deploy sustainability initiatives and lead by example in the process. It is a privilege to continue to work with the Cox team as we help them achieve their economic goals and environmental initiatives through photovoltaic solar systems at their facilities across the United States.”
The 112 kW system is Cox Enterprises’ second commercial-grade photovoltaic installation and features 560 200-watt roof-mounted solar modules covering 10,000 square feet, and a highly efficient 95-kilowatt inverter. “Just as when we installed the 100.8 kW system for the company’s Cox Communications division cable telecommunications facility in Rancho Santa Margarita, California, we worked closely with the Cox team to ensure a seamless integration of the system without any interruption in operations. We were able to complete both of these projects on time and on budget,” said Ferrell. “We look forward to identical outcomes for additional projects as we continue to work together toward advancement of their Cox Conserves program throughout all of their areas of operation across the country,” Ferrell concluded.
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