Solarbuzz Raises Global Photovoltaic 2010 Market Forecast to 15.2 GW

Global photovoltaic demand continues to soar in 2010 and is currently projected to double over the rate of installations last year.

In the latest edition of the Solarbuzz® QUARTERLY Report, Solarbuzz has raised its 2010 market size to 15.2 GW which compares with a revised 7.5 GW in 2009. Specifically, the last three quarters of 2010 are projected to generate 12.7 GW of demand, driven by strong growth across Europe, but also in United States, Japan, China and a range of smaller start-up markets.

German market demand incorporates substantial volatility in quarter-on-quarter performance during 2010. This takes account of the uncertainty of policy adjustments in Germany that are planned for July 1 and also January 2011.

A 2010 market size of 8 GW in Germany is now in prospect, even taking account of a drop off in demand in Q3'10.

"Despite much uncertainty over policy outcomes a challenging economic environment and inverter supply, the PV industry is once again demonstrating consumers respond to supportive government policies," said Craig Stevens, President of Solarbuzz. "The growth in demand is a response to major cuts in price levels afforded by lower manufacturing costs. As a result, module and inverter supply is just barely keeping up with demand."

Preliminary data on global industry revenues shows a drop of 40% to just over $12 billion in first quarter 2010, which was nearly four times the level one year earlier.

Selected price rises late in Q2'10 have been seen from some Chinese manufacturers supplying to Europe. These moves helped to partially offset the decline in the Euro over second quarter 2010. Within the PV chain, wafer prices have tightened in both euro and dollar terms, while cell prices have tightened in euro terms only over the past 6 months.

Additional highlights from Solarbuzz QUARTERLY include:

* Estimated upstream inventory days remain flat from end Q1 to end Q2 2010, whereas downstream days fall to one third of their end Q1 level.

* In Q1 2010, there was a sharp rise in cell capacity utilization, with many of the market leaders in practice working at full capacity during second quarter.

* Among the leading cell manufacturers, Sharp took a clear number 1 global position in first quarter 2010, measured on total revenues. In a close number 2 and 3 position were Suntech Power and First Solar. First Solar retained first place in MW production terms.

* Asian manufacturers exhibit steady quarter on quarter gross margin improvements, testimony to their success at bringing down unit costs.

Solarbuzz reports: http://www.solarbuzz.com/ - admin@solarbuzz.com

IEA: Solar to account for 25% of World Electricity by 2050

Solar electricity could represent up to 20% to 25% of global electricity production by 2050. This important finding emerges from two new analyses by the International Energy Agency (IEA): the solar Photovoltaic (PV) and Concentrating Solar Power (CSP) roadmaps, launched today in Valencia/Spain, during the Mediterranean Solar Plan Conference hosted by the Spanish presidency of the EU. "It is particularly appropriate to present the two solar roadmaps in Valencia today, given that Spain has taken a leading role globally in promoting solar power and other forms of renewable energy," said Mr. Tanaka. "The combination of solar photovoltaics and concentrating solar power offers considerable prospects for enhancing energy security while reducing energy-related CO2 emissions by almost six billion tonnes per year by 2050." The roadmaps detail the technology milestones that would make this possible, highlighting that the two technologies will deploy in different yet complementary ways: PV mostly for on-grid distributed generation in many regions and CSP largely providing dispatchable electricity at utility scale from regions with brightest sun and clearest skies. PV also helps provide energy access off grid in rural areas. Together, PV and CSP could generate 9 000 Terawatt hours of power in 2050.

"This decade is crucial for effective policies to enable the development of solar electricity," Mr. Tanaka said. "Long-term oriented, predictable solar-specific incentives are needed to sustain early deployment and bring both technologies to competitiveness in the most suitable locations and times." These incentives will need to evolve over time to foster innovation and technology improvements. To support cost reductions and longer-term breakthroughs, governments also need to ensure long-term funding for additional research, development and demonstration efforts.

With effective policies in place, PV on residential and commercial buildings will achieve grid parity – i.e. with electricity grid retail prices – by 2020 in many regions. PV will become competitive at utility-scale in the sunniest regions by 2030 and provide 5% of global electricity. As PV matures into a mainstream technology, grid integration and management and energy storage become key issues. The PV industry, grid operators and utilities will need to develop new technologies and strategies to integrate large amounts of PV into flexible, efficient and smart grids. By 2050, PV could provide more than 11% of global electricity.

The IEA expects CSP to become competitive for peak and mid-peak loads by 2020 in the sunniest places if appropriate policies are adopted. Its further expansion will depend on the development of dedicated transport lines that will bring CSP electricity to a greater number of large consumption centres. Some of them will have to be developed within large countries such as China, India and the USA. Others will cross border, and many will be needed to link the southern and northern shores of the Mediterranean Sea. Thanks to thermal storage, CSP can produce electricity around the clock and will become competitive with base load power by 2025 to 2030. North America will be the largest producer of CSP electricity, followed by North Africa and India. North Africa would most likely export about half its production to Europe, the second largest consumer. The overall contribution of CSP could – like that of PV - represent 11% or more of the global electricity demand by 2050.

Mr. Tanaka concluded in noting that "solar PV and CSP appear to be complementary more than competing. The firm capacity and flexibility of CSP plants will help grid operators integrate larger amounts of variable renewable electricity such as solar PV and wind power. PV will expand under a broader range of climate conditions and bring clean renewable electricity directly to end-users."

http://www.iea.org/papers/2010/pv_roadmap.pdf
http://www.iea.org/papers/2010/csp_roadmap.pdf

Indian Renewable IPP Greenko gets 46 M$ funding from GEF

Private equity firm Global Environment Fund (GEF) announces the completion of an investment of $46.3 million in Greenko PLC, which is based in Hyderabad, India. Greenko is one of India’s largest independent power producers focused exclusively on renewable energy generation through the development, acquisition, construction, and operation of run-of-river hydro and biomass-fired plants. GEF is the only non-public investor and holds two seats on the Board of Directors of the company’s Mauritian subsidiary.

Since its formation in 2006, Greenko has sought to be a premier clean energy player in India, with a diverse portfolio of scaled renewable energy assets. GEF’s investment will accelerate the company’s growth objectives as it addresses the massive shortfalls in power supply needs in India in the coming years.

Anil Chalamalasetty, Chief Executive of Greenko, said, “We are delighted to receive funding from Global Environment Fund which shows confidence in Greenko’s business model and its long-term ambition to be a leading clean energy player in the fast growing Indian economy and energy markets. We believe GEF’s experience in investing in clean energy projects in other emerging economies will be a good value addition to the platform.”

H. Jeffrey Leonard, President, Chief Executive Officer and Founding Partner of GEF, commented, “GEF is pleased to enter into a long-term partnership with Greenko, a leading and scaled renewable energy platform in India with a robust pipeline of expansion opportunities. Consistent with GEF’s investment strategy, Greenko represents a proven management team that should help meet India’s need for sustainable sources of power in the future.”

Huge solar power plant in China - First Solar & Chinese government MOU

First Solar today announced a memorandum of understanding (MOU) with the Chinese government to build a 2 gigawatt solar power plant in Ordos City, Inner Mongolia, China.

Pursuant to the MOU, signed in the presence of Chairman Wu Bangguo of the Standing Committee of the National People's Congress of China, the solar project in Ordos will be built over a multi-year period. Phase 1 will be a 30 megawatt demonstration project that will begin construction by June 1, 2010 and be completed as soon thereafter as practicable. Phases 2, 3 and 4 will be 100 megawatts, 870 megawatts, and 1,000 megawatts. Phases 2 and 3 will be completed in 2014 and Phase 4 will be completed by 2019.

"This major commitment to solar power is a direct result of the progressive energy policies being adopted in China to create a sustainable, long-term market for solar and a low carbon future for China," First Solar CEO Mike Ahearn said at the signing ceremony. "We're proud to be announcing this precedent-setting project today. It represents an encouraging step forward toward the mass-scale deployment of solar power worldwide to help mitigate climate change concerns."

The project will operate under a feed-in-tariff which will guarantee the pricing of electricity produced by the power plant over a long-term period.

"The Chinese feed-in tariff will be critical to this project," Ahearn said. "This type of forward-looking government policy is necessary to create a strong solar market and facilitate the construction of a project of this size, which in turn continues to drive the cost of solar electricity closer to 'grid parity' – where it is competitive with traditional energy sources."

The MOU contemplates that during the implementation of the initial phases of the project First Solar will actively review the possibility of module and supplier manufacturing sites in Ordos, and other considerations required to support a First Solar investment. First Solar also intends to facilitate expansion of the supply chains in China for thin film photovoltaic module production and for the recycling of photovoltaic modules after use.

"We are very pleased to be partnering with one of the solar industry's global technology leaders in a project of such significance to Ordos's low carbon future," said Cao Zhiche, vice mayor of Ordos Municipal Government. "Discussions with First Solar about building a factory in China demonstrate to investors in China that they can confidently invest in the most advanced technologies available."

The MOU sets forth the agreement in principle of the parties concerning the project and related activities. Final agreement between the parties is subject to the negotiation and execution of definitive agreements among the parties.

Earlier this year, the Chinese Government announced the Golden Sun subsidies, covering up to 50% of large scale solar plants.

Walmart goes solar with SunEdison

Walmart Puerto Rico and SunEdison, North America's largest solar energy services provider, today announced plans to deploy rooftop solar systems on five Walmart PR stores with the potential for 23 stores over five years. The project will be the largest renewable energy project ever developed on the island. Given traditional energy rates, the systems will provide Walmart long-term predictably priced solar-generated energy.

Under a solar power services agreement with Walmart, SunEdison will finance, own, build and operate the photovoltaic solar energy systems, which deliver long-term, low-risk returns to project financiers. Construction on the first 895kW rooftop system at Walmart Supercenter Caguas is scheduled to begin before the end of 2009.

Each solar power-generating system installed may vary, but across the Puerto Rico sites, on average a system can provide 25 to 35 percent of the power for the store or club on which it is installed. Throughout the duration of a 15 year contract, the zero-emission systems are projected to produce 90 million kilowatt hours (kWh) of electricity.

Renzo Casillo, president & CEO of Walmart Puerto Rico added that, "we are transforming every aspect of our operation, and that includes energy consumption. Today, our new Walmart stores are 21 percent more energy-efficient than our original 2005 stores. Through the implementation of energy-saving strategies and the installation of energy-efficient equipments, last year we achieved an 8.7 percent reduction in energy consumption compared to the previous year. With this solar energy project we'll continue to broaden our efforts towards our main objective and commitment of being supplied 100 percent by renewable energy".

SunEdison COO Carlos Domenech said, "We commend Walmart's aggressive leadership in renewable energy as a model for all industries. Our collaboration in Puerto Rico will provide a long-term financial return on Walmart's investment in energy. The project also brings the solar industry to Puerto Rico with well-paying jobs for the island on top of the reduction of greenhouse gases to improve the environment."
http://www.walmart.com/
http://www.sunedison.com/

SunRun: Home solar financing pioneer expands with new funding

SunRun, the leading provider of home solar power, today announced it closed a Series B round of funding for $18 million led by Accel Partners and joined by existing investor, Foundation Capital. SunRun plans to use the funding to meet strong demand for its popular residential solar service, expand into new markets and build on the Company's recent successes.

The Company has experienced rapid growth since its founding in early 2007, marked by expansions outside of its initial California market into Massachusetts and Arizona in early 2009, and has achieved 300 percent growth this calendar year alone. This funding round follows U.S. Bancorp's commitment in November 2008 for project financing for up to $105 million in solar facilities and a $12 million Series A financing round led by Foundation Capital in June 2008. Rich Wong from Accel Partners will join SunRun's Edward Fenster and Lynn Jurich, Charles Moldow from Foundation Capital and David Buzby, also Chairman of SunEdison, on the Company's Board of Directors.

SunRun makes it affordable and turnkey for homeowners to switch to solar power by delivering immediate savings on utility bills with minimal start-up cost. For as little as $1,000 down, SunRun will arrange to purchase customized home solar equipment from an authorized local solar contractor and then sell the solar electricity at a fixed, discounted rate lower than the homeowner's current electricity bill. Over time, as utility rates increase, the homeowner accumulates significant savings.

"Getting solar is one of the most important things homeowners can do to make a positive impact on their local environment and monthly expenses," said Edward Fenster, CEO of SunRun. "Most people don't have $30,000 to spend on solar equipment and don't want to worry about taking care of a $50,000 asset. SunRun makes solar a reality for people who wouldn't otherwise have considered it, and we're finally at the point where it makes financial sense as well as environmental sense for a majority of homes."

CEO Edward Fenster and President Lynn Jurich started SunRun as classmates at Stanford's Graduate School of Business with the mission of making renewable energy both affordable and economically viable. The Company's first system was on the roof of Fenster's home in San Francisco, and today SunRun provides solar electricity to more than a thousand customers.

The Company's unique approach includes partnering with locally-based solar companies that help generate local green jobs. SunRun carefully selects high-quality installers in each of the markets it serves. As demand for SunRun's service grows, so do jobs with SunRun's local installation partners.

Accel Partners is a leading venture capital and growth equity firm specializing in groundbreaking companies across multiple industries including Internet, clean technology, digital media, software and communications. Accel has backed the market leaders that have sparked significant revolutions in their categories, such as: Facebook, Glam, Admob, Trulia, RealNetworks, UUNet, MetroPCS, BBN, Arrowpoint, Macromedia, XenSource, Walmart.com, Zimbra and many others.

"SunRun has emerged as the leading residential solar player by removing the largest obstacles to adoption, expanding affordability to the masses and reducing complexity for the consumer," said Rich Wong, Accel Partners board member and lead investor. "Accel has helped build companies such as Facebook into global leaders, and we see that same potential in SunRun. We're thrilled to be a part of SunRun's bright future."

"SunRun's pioneering approach to home solar makes it easy and affordable for many homeowners to make the switch to clean energy," said Steve Vassallo, venture partner at Foundation Capital. "Whether it was with Netflix, which dreamed of changing the way videos are rented, or SunRun, which is enabling solar for the masses, Foundation Capital has been very fortunate to invest in some of the world's most successful, mission-driven entrepreneurs."

Q-Cells International to construct 50 MWp solar park in Bavaria

- Largest solar park in Germany with polycrystalline solar cells
- Generates as much electricity as is used by around 15,000 households
- Reduction of 35,000 tons of CO2 per year
- Until it is sold to an external investor, the project will be run as a joint venture between Q-Cells and MEMC

Q-Cells SE, the solar cell manufacturer based in Saxony-Anhalt, and MEMC Electronic Materials Inc., the US manufacturer of silicon wafers, today revealed the formation
of a joint venture to construct large solar parks, in which each partner will have a 50% share. The first shared project will be a facility in Strasskirchen, Bavaria. With a total capacity of around 50 MWp, this will be the largest ground mounted PV system in Germany to be operated using crystalline solar cell technology. Q-Cells International, a 100%-owned subsidiary of Q-Cells SE, has been commissioned to
construct the facility.

“Strasskirchen represents a new dimension for us and we are proving that we are able to achieve very high quality in a record-short time“, says Dr. Marko Schulz, Member of the Executive Board of Q-Cells and the person in charge of Q-Cells International’s project business. We expect to complete the facility and connect it to the public electricity network at the end of the current year.

The amount of electricity generated by the solar park in Strasskirchen each year corresponds to the power consumption of around 15,000 households. With the energy of around 225,000 modules, installed on a surface equivalent in size to around 270 football fields (around 135 hectares), around 35,000 tons of CO2 will be eliminated each year.

Q-Cells SE and MEMC Electronic Materials Inc. have agreed to each invest up to around 70 EURm in the joint venture so that the two partners can cover the bridging finance during the construction phase.

MEMC will supply the silicon wafers for the joint venture, and Q-Cells will turn them into solar cells. Following completion, it is planned to sell the project to an external investor.

SolFocus Raises over $77 Million in Series C Funding

Funding to Support Rapid Manufacturing Ramp as the Company's Concentrator Photovoltaic (CPV) Systems Reach Commercial Scale

SolFocus, the leading developer of Concentrator Photovoltaic (CPV) systems, today announced that it has closed its Series C Funding round having raised $77.6 million. The company is completing its transition from pilot production to full scale commercialization, with the expansion of manufacturing from 0.5MW in 2008 to over 10MW to be shipped this year, with capacity for over 50MW going into 2011. The funds raised in this C Round will be used to support the rapid manufacturing ramp in the company's transition to volume production. SolFocus announced a first close on the C Round in January of this year, at which time it had raised $47 million. Since that first close the company has raised an additional $30.6 million, bringing the total round to $77.6 million.

"Closing a round of investment with more than $77 million is no small feat in this challenging fund-raising environment, and a good indication of market expectations for SolFocus in 2009 – the year of CPV commercialization," said Mark Crowley, Chief Executive Officer and President. "The investment will allow SolFocus to align its operations, engineering, and project management with the demands of global manufacturing and deployment."

The C Round was led by Apex Venture Partners, a Chicago-based venture firm focused on investments in companies with high potential for value creation in a variety of sectors including technology, software, IT infrastructure and telecommunications. "The strength of a firm like Apex Venture Partners as the round lead was instrumental in our ability to exceed our fund-raising target," commented SolFocus VP of Finance Bob Raybuck. "The strong product and market position of the company was also confirmed by the combination of existing and new investors joining the round." Follow-on participants in the round included New Enterprise Associates (NEA) who led the A and B Rounds for the company, NGEN and Yellowstone Ventures. New investors in the round include Demeter Partners, affiliates of Advanced Equities, and others. Advanced Equities, Inc. served as the financial advisor to SolFocus on the financing.

"SolFocus has the right mix of innovation and execution to deliver on its promise of low-cost solar energy in high-sun regions around the world," commented Wayne Boulais of Apex Venture Partners. "The challenge for new technology in today's tight capital markets is intense, but we believe that SolFocus has demonstrated its ability to move forward on a deliberate path that will allow the company to meet these challenges and excel." Mr. Boulais is a General Partner at Apex Venture Partners, and has been elected to the SolFocus Board of Directors.

The SolFocus CPV design employs a system of reflective optics to concentrate sunlight 650 times onto small, highly efficient solar cells. The SolFocus 1100S uses approximately 1/1,000th of the active, expensive solar cell material compared to traditional photovoltaic panels. In addition, the cells used in SolFocus CPV systems have over twice the efficiency of traditional silicon cells. In solar-rich locations, such efficiency can accelerate the trajectory for solar energy to reach cost parity with fossil fuels.

The funding builds upon a series of commercial milestones for SolFocus: the release of the SolFocus 1100S system in November; the largest CPV installation in Europe currently underway in Greece; the first certification of a CPV system to IEC 62108 standards, and the 15X capacity expansion of the company's manufacturing facility in Mesa, Arizona.

Schneider Electric provides a Madagascan village access to renewable energies through its BipBop program

On May 27, Schneider Electric presented an off-grid solar photovoltaic facility to local officials in Marovato, on Madagascar’s east coast, as part of its in-house BipBop energy access program for people at the bottom of the pyramid.

Schneider Electric deployed its full range of skills and competencies to offer Marovato’s 120 residents access to energy that is safe, reliable, efficient, productive and green. To carry out this project, the Group forged an innovative partnership with businesses, associations and residents within the Jirano association, whose mission is to set up a sustainable electricity supply system for isolated villages in Madagascar.

Schneider Electric and its partners developed a dedicated solution tailored to the nature and size of this project. The solution’s components ensure that the system operates smoothly, at top efficiency, and protect the solar installation. The Group provided a Xantrex by Schneider Electric photovoltaic inverter and charger, circuit breakers, and remote supervision and monitoring of the electrical enclosure via the GSM network. The facility generates peak power of 1,400 watts. In comparison, the village currently uses 490 watts. Schneider Electric and the Jirano association also developed a program to teach residents how to maintain the facility. In all, 12 jobs in electricity-related fields were created. In 2009, projects supported by Schneider Electric in Madagascar are expected to electrify 1,000 households, train 100 people and create 50 additional jobs.

Claude Graff, Executive Vice President, Renewable Energies, Schneider Electric said: “The electrification of Marovato demonstrates Schneider Electric’s ability to deploy a sustainable system that provides access to renewable energies and meets the region’s accessibility constraints.”

In a country with a limited power grid where only 20% of the population has access to electricity, off-grid clean energy solutions are a simple and efficient way to meet the development needs of disadvantaged communities. By helping these communities tap into renewable energies, Schneider Electric is reaffirming its socially responsible commitment to helping improve quality of life for people at the bottom of the pyramid and facilitating access to healthcare and education.

Gilles Vermot Desroches, Senior Vice President, Sustainable Development, Schneider Electric explained: “The key success factor in this project lies in a new type of cooperation in which businesses and village associations work together towards a common goal. We intend to pursue this initiative in the new economies that are the target of our BipBop energy access program.”

The Marovato electrification project is the first initiative to come out of Schneider Electric’s BipBop program, which stands for “Business Investment People at the Bottom of the Pyramid”. The program covers three strategically-related areas:
- Business - Build and deliver electrical distribution solutions for people at the bottom of the pyramid.
- Investment - Create an investment fund to develop electrical businesses.
- People - Help provide electrical training for young people looking to enter the workforce.

Helping customers consume less, produce more effectively, improve energy efficiency, protect the environment and contribute to the development of renewable energy sources is an integral part of Schneider Electric’s business and strategy. The BipBop initiative to electrify Marovato illustrates Schneider Electric’s desire to create a virtuous circle combining business, innovation and social responsibility.

Find the press kit on the electrification of the village of Marovato in the Press Area of Schneider Electric website.

The Vinon-sur-Verdon Solar Park showcases Schneider Electric’s unique expertise as a solutions provider for renewable energies

On May 15, Schneider Electric inaugurated the Vinon-sur-Verdon Solar Park in southeastern France, in partnership with SolaireDirect and Caisse des Dépots.

With the Vinon-sur-Verdon photovoltaic solar farm, Schneider Electric sets the standard for safe, reliable, efficient, productive, green energy. Its ability to offer an array-to-grid solution and related services to manage and convert the electricity produced by the photovoltaic modules and feed it to the grid makes Schneider Electric the only market operator to provide end-to-end management of solar array intelligence.

Henri Lachmann, Chairman of the Supervisory Board of Schneider Electric said: « The Vinon-sur-Verdon Solar Park is a tangible example of how we implement our ‘One’ company program. It combines all of the Group’s products and services in a seamless, end-to-end solution tailored to the customer’s specific needs. »

The Vinon-sur-Verdon photovoltaic solar park will produce enough energy to meet the needs of 4,000 people, without the 2,800 metric tons of carbon emissions an equivalent fossil fuel-fired power plant would produce. Built for Solaire Durance, a joint venture between Caisse des Dépots and SolaireDirect, the park sits on nine hectares of land and consists of 19,000 photovoltaic panels, for an installed capacity of 4.2 MW.

Claude Graff, Executive Vice President, Renewable Energies of Schneider Electric explained: « The park demonstrates Schneider Electric’s renewable energies strategy, consisting of an end-to-end solution and related services to convert and manage the electricity generated by the photovoltaic solar panels and ensure a reliable connection to the power grid. »

By offering an integrated, end-to-end solution and acting as the sole contact for plant management for Solaire Durance, Schneider Electric has demonstrated unique know-how that complements the expertise of solar panel designers and sets it apart from rivals. Its products and services cover every requirement, from photovoltaic solar cells to connection to the French national 20 kV grid. They include feasibility studies, power distribution architecture design, the supply of all types of equipment including junction boxes, inverters, prefabricated transformer substations, MV transformer substations, the supervision system and video surveillance, as well as operating and maintaining the site for 20 years.

Through its operating and maintenance services, Schneider Electric can guarantee Solaire Durance 97.5% availability, leveraging both preventive maintenance to anticipate problems and monitoring equipment installed at critical locations in the park. The monitoring devices provide a variety of data on the array’s operation — the status of the photovoltaic modules and inverters, the production modules, fault reporting and alarms — and enable Schneider Electric to respond in real time to correct malfunctions and resume operations as soon as possible.

Renewable energies are the key to meeting changing energy demand while reducing carbon emissions. Over the last several years, the Group has added to its stature as a major provider of renewable energy solutions, notably by acquiring companies such as Xantrex, a world leader in the inverter market for the renewable energies sector.

In addition, venture capital fund Schneider Electric Ventures is responsible for identifying new growth and innovation opportunities, focusing on emerging market and technology trends early and cultivating partnerships with startups on the cutting edge of their fields. For these reasons, it acquired a 20% interest in SolaireDirect.

The major sustainable development issues of lowering consumption, producing more efficiently, enhancing energy efficiency, protecting the environment and helping to drive renewable energy development are core focuses of Schneider Electric’s businesses and strategy. The Vinon-sur-Verdon Solar Park demonstrates its ability to deliver appropriate, integrated solutions and showcases its unique position in providing access to renewable energies.

PG&E and BrightSource sign record solar deal, 1310 MW

Pacific Gas and Electric Company (PG&E) announced today that it has entered into a series of contracts with BrightSource Energy, Inc. for a total of 1,310 megawatts (MW) of solar thermal power.

These power purchase agreements, covering seven projects, supersede the agreements PG&E executed with BrightSource in April 2008 for up to 900 MW of solar thermal power.

The first of these solar power plants, sized at 110 MW and located in Ivanpah, Calif., is contracted to begin operation in 2012. BrightSource will build and place in commercial operation each of its plants as quickly as permitting and infrastructure allow. All seven projects are expected to produce 3,666 gigawatt-hours of power each year, equal to the annual consumption of about 530,000 average homes.

“The solar thermal projects announced today exemplify PG&E’s commitment to increasing the amount of renewable energy we provide to our customers throughout northern and central California,” said John Conway, senior vice president of energy supply for PG&E. “Through these agreements with BrightSource, we can harness the sun’s energy to meet our customers’ power requirements when they need it most – during hot summer days.”

“Today’s agreements reflect the technological milestones that the BrightSource Energy team has achieved over the past year,” said John Woolard, CEO of BrightSource Energy. “Our technology is setting the bar for efficient production of solar energy. We’re thrilled by the opportunity to help PG&E and other leaders bring energy customers more clean and reliable solar energy.”

Since 2002, PG&E has entered into contracts for more than 20 percent of its future electric power deliveries from renewable sources. On average, half of the electricity PG&E delivers to its customers comes from carbon-free generating sources, making the company’s energy among the cleanest in the nation.
www.brightsourceenergy.com
www.pge.com

Florida Power &Light Announces World’s Largest Photovoltaic Solar Project

Florida Power & Light Company, a subsidiary of clean energy leader FPL Group, Inc. (NYSE:FPL), today announced new solar energy projects that include the world’s largest photovoltaic solar plant and first “hybrid” energy center, coupling solar thermal technology with an existing combined-cycle generation unit.

“Pending regulatory approval, FPL will build 110 megawatts of solar power right here in the Sunshine State, making Florida No. 2 in the nation for solar energy,” FPL Group Chairman and CEO Lewis Hay, III announced today at the 2008 Florida Summit on Global Climate Change in Miami. “This is made possible in part by the strong support and determined leadership of Governor Crist and the Florida legislature, who crafted a progressive energy bill that put a supportive policy framework in place for solar power.”

Along with a previously announced photovoltaic solar installation at NASA’s Kennedy Space Center, the projects will generate 110 megawatts of emissions-free electricity. The projects are:
- The DeSoto Next Generation Solar Energy Center. Planned for construction to commence by year-end 2008 on FPL-owned property in DeSoto County, Fla., the DeSoto project will provide 25 megawatts of photovoltaic solar capacity, making it the world’s largest photovoltaic solar facility.
- The Martin Next Generation Solar Energy Center. Planned for construction to commence by the beginning of 2009 at FPL’s existing Martin Plant site, the Martin project will provide up to 75 megawatts of solar thermal capacity in an innovative “hybrid” design that will connect to an existing combined-cycle power plant. When the power of the sun is producing electricity from steam, less fossil fuel is required.
- The Space Coast Next Generation Solar Energy Center. Planned for construction to commence by the beginning of 2009 at the Kennedy Space Center, the Space Coast project will provide 10 megawatts of photovoltaic solar capacity in an innovative public-private partnership.
These projects represent an accelerated implementation schedule of the commitments the company made at the Clinton Global Initiative in September 2007, which called for an initial 10 megawatt trial followed by the construction of 300 megawatts of solar power in Florida and 500 megawatts nationwide over seven years. With today’s announcement, FPL is meeting more than one-third of its Florida target in under a year.

Environmental Benefits
Together, the three sites will prevent the release of nearly 3.5 million tons of greenhouse gases over the life of the projects, which is the equivalent of removing 25,000 cars from the road per year, according to the U.S. Environmental Protection Agency. In addition, photovoltaic solar systems, which convert sunlight directly to electricity, consume no fuel, use no water, and produce no waste. Solar thermal systems, which use the power of the sun to produce electricity from steam, use no fossil fuel, no additional cooling water and produce zero greenhouse gas emissions.

The 110 megawatts of photovoltaic solar and solar thermal power announced by FPL today is in addition to 250 megawatts of solar thermal power announced by FPL Energy on March 26. Together, the projects will dramatically extend FPL Group’s lead as the world’s No. 1 producer of solar energy. FPL Group is also the nation’s No. 1 producer of wind power.

The company has secured the necessary zoning approval and has access to the necessary transmission infrastructure for all three projects. The Martin and DeSoto County projects will be built entirely on FPL-owned land. FPL submitted a petition on May 16 to the Florida Public Service Commission to commence regulatory approval to build the three projects.

A Record of Clean Energy Leadership
With the announcement of these solar projects, FPL Group is further demonstrating its commitment to improving the environment and expanding its renewable energy portfolio:
- FPL is the nation’s No. 1 utility for energy conservation, according to U.S. Department of Energy data. FPL’s conservation programs have helped the company avoid the need to build 12 medium-sized power plants since 1980, more than any other utility.
- FPL Energy operates the world’s largest solar thermal field in California’s Mojave Desert and is the nation’s largest wind power company, with 5,410 megawatts of installed capacity at 56 sites in 16 states.
- Overall, FPL Group’s generation fleet, with a capacity of 38,105 megawatts, has one of the lowest carbon dioxide emission rates in the country.
In addition, FPL Group is one of the electric power industry’s strongest advocates for a mandatory, nationwide policy to place a price on carbon dioxide emissions. Hay has testified before Congress in support of a national carbon fee as the most efficient and effective way to slow, stop and eventually reverse the build-up of carbon dioxide in the atmosphere. He has also expressed support for a cap-and-trade program that requires carbon emitters to bear the cost of their emissions rather than shift those costs onto society and incorporates appropriate price controls during the early transition years to minimize disruptions to the economy.

http://www.fpl.com/, http://www.fplgroup.com/, http://www.fplenergy.com/.

SunEdison Closes $161 Million in Financing

Six Investment Partners Participate in Solar Energy Services Provider's Equity and Debt Financings

SunEdison, North America's largest solar energy services provider, today announced that it has closed $131 million of private equity and $30 million of debt financing with new and existing investors over the last six months. Investors include Greylock Partners; HSH Nordbank AG; Applied Ventures, LLC; Black River Commodity Clean Energy Investment Fund, a fund managed by Black River Asset Management; MissionPoint Capital Partners; and Allco Renewable Energy Limited. These financings are designated to support the operational resources of SunEdison.

http://www.sunedison.com/

Biggest solar PV plant in North America started

First Light, the largest solar PV facility in North America, will be located in Ontario, Canada. It will be developed by SkyPower Corp and SunEdison Canada and it will feature an astonishing 19 MW.

The joint venture will not only build the plant, but it will also operate it. The plant is expected to be completed by the end of 2009, although the first 9 MW should be connected to the grid during 2008. The Ontario Power Authority will purchase the electricity produced by the plant.

In 2006, the Ontario government launched the Renewable Energy Standard Offer Program, a scheme to promote investment and employment in the green power industry. The First Light announcement is a clear sign that the goals set by the Standard Offer Program are reachable, according to both companies.

According to Mr Gerry Phillips, Ontario's Minister of Energy in just one year the Renewable Energy Standard Offer Program has met the target set for the next ten years. Ontario aimed for 2,700 MW of green power to be installed by 2010.

Indeed Canada, with plenty of land available and little population, could easily supply a substantial amount of energy with solar power in the coming years. A fast-growing network of solar companies is being developed in the country, so robust growth in solar capacity is only a matter of time.

http://www.skypower.com/
http://www.sunedison.com/

BrightSource Energy Exceeds $115 Million in Latest Round of Funding

BrightSource Energy, Inc., developer of utility-scale solar energy projects, has secured $115 million in additional corporate funding from its Series C round of financing, bringing the total the company has raised to date to over $160 million. These additional funds will enable the company to accelerate its plans to deliver utility-grade solar power at a time when many utilities are searching for reliable sources of renewable energy.
VantagePoint Venture Partners, the company's initial investor, played a major role in forming the syndicate, which includes Google.org, BP Alternative Energy, StatoilHydro Venture and Black River. All of the company's existing investors, including Morgan Stanley, DBL Investors (formerly a subsidiary of JP Morgan), Draper Fisher Jurvetson, and Chevron Technology Ventures participated in the round.
"The quality of the investors in this round of financing, coupled with increased support from our earlier investors, underscores the confidence that major strategic players have in our ability to reliably generate clean, cost-effective, utility-scale solar power," said John Woolard, Chief Executive Officer of BrightSource. "We believe in the transformational role of solar energy, and that the broad reach of our new investors will enable us to accelerate the growth of solar thermal into a mainstream energy source."

"With its unique ability to reliably produce superheated steam at efficient high temperatures, our power tower technology is the strongest commercially viable approach to solar energy," said Arnold Goldman, Chairman and Founder, BrightSource Energy, Inc. and Luz II Ltd. "Operating more efficiently than older solar thermal methods, and costing much less to build, our technology will change the way utilities generate electricity."
In March 2008, BrightSource entered into a series of power purchase agreements with PG&E for up to 900MW of electricity. BrightSource is currently developing a number of solar power plants in the Mojave Desert of Southern California, with construction of the first plant planned to start in 2009.
"In working closely with BrightSource over the past several years, they have greatly impressed us with their commitment to efficiency and technological prowess," said Alan Salzman, Managing Partner of VantagePoint Venture Partners. "The work that we are helping finance is both an extraordinary business opportunity and a catalyst for transformative change to the energy world as we know it. It is exciting to be part of it."
http://www.brightsourceenergy.com/

Clear Skies Solar Signs LOA for $20 Million Solar Energy Deal in India

Clear Skies Solar, Inc. (OTCBB:CSKH) today announced a $20 million agreement, subject to financing, with Power Cube, a company located in Utter Pradesh, India to develop and construct the first of several solar energy projects in India.

In this project, which is Clear Skies Solar's first step into the international arena, the company will design and construct a multi-megawatt solar power system that will supply power to a steel
mill and support the community's energy grid system, providing much-needed energy on this particular line.

"We recognize that the continued use of fossil fuels negatively impacts both the economy and the environment," said Power Cube Chairman Mohan Kejriwal. "As such, Power Cube is determined to meet a portion of India's energy requirements by developing several large solar photovoltaic projects (PV Projects) which will generate electricity from sunlight."

"India represents the first of many untapped markets that Clear Skies Solar plans to enter in 2008 and 2009," said Ezra Green, Chairman and CEO of Clear Skies Solar. "Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs."

"While international projects pose special challenges for solar energy providers, such as identifying proper high voltage lines and the ownership of the property for the system to be installed," added Green. "Our unique ability to overcome such challenges makes Clear Skies Solar the natural choice for clients with challenging power needs."

"Clear Skies Solar has shown that it has the ability and innovative construction techniques to execute this contract, and we look forward to this project beginning in October of 2008," added Kejriwal. "It is the goal of both parties to complete the construction of the five megawatt PV Project and for it to be operational before March of 2009."

Clear Skies Solar will provide the technology, engineering and construction services needed to create the PV Project and will also be prepared to provide the operation and maintenance services needed.

India: West Bengal to have grid-connected solar power plant

(IANS) State-owned Power Finance Corp Ltd (PFC) Thursday inked a memorandum of agreement (MoA) with West Bengal Green Energy Development Corp Ltd (WBGEDCL) to set up India’s first grid-connected solar power plant. The 2-MW photovoltaic plant would come up at Dishergarh Power Station Complex near Asansol in Burdwan district of southern West Bengal.
“The unit will come up over 8.3 acres of land with an investment of more than Rs.410 million. The state government will take about Rs.400 million from the PFC to execute the project,” West Bengal Power Minister Mrinal Banerjee told reporters here.
He said this solar power plant would be the first of its kind in South Asia. “We are expecting to complete the first module of the project by July this year and the second module will also be finished by the end of 2008,” he said.
WBGEDCL is promoted by the state government for promotion and development of grid-connected renewable sources of energy. It is implementing renewable energy programmes of the central Ministry of New and Renewable Energy (MNRE) and West Bengal.
MNRE has set for itself a goal to add an additional 14,000-MW of grid-quality power through renewable resources by the end of 11th five-year plan (2007-12).
According to estimates, West Bengal has a potential to add 10,000-MW through renewable energy, including solar sources. At present, the installed capacity of electric power from non-conventional renewable energy sources in West Bengal is 76 MW.
In addition to this, WBGEDCL has drawn up an action plan to add 400 MW of power through renewable energy sources by 2012.
Banerjee said there were some projects in the pipeline for a solar energy park in Purulia district.
“The solar energy park will have separate power projects by private investors and the total capacity would be around 30 MW. About 100 acres would be required for that,” he said.