Corporate/Finance | Renewbl.com

Category: Corporate/Finance

Suntech Power relocates HQ from London to Schaffhausen

May 14th, 2009 | Posted in General

The China based company, and world's leading producer of crystalline-silicon PV modules, has decided to relocate its European HQ from London, UK to Schaffhausen, Switzerland. This move is part of the company's strategy to double its sales and marketing team in Europe over the next six months. Suntech wants to centralize its regional operations and widen the level of service and support for the rapidly growing European customer base.

Suntech sees the advantages of the new headquarters in their proximity to their European customers, established solar markets such as Germany, France and Italy, but also to other developing solar markets such as Greece, Portugal and countries of Central Europe. Switzerland furthermore offers an internationally regarded workforce potential, and the fact it's one of the world's financial centers also helps.

The Swiss government has already introduced an incentive program for PV, according to the company, so Suntech will quickly move to ensure a leading market position in Switzerland, as it did in other countries.

RWE Innogy acquires majority stake in Danta de Energías

May 14th, 2009 | Posted in Wind

rwe1 RWE Innogy has increased its stake in the Spanish wind farm operator Danta de Energías from 43% to 93.7%, basically becoming the owner. This expands RWE's presence in Spain significantly, adding 70 MW to a total of 400 MW of installed and operated wind power in Spain.

Danta de Energías operates three onshore wind farms in the Castilla Leon province. It's also developing another four wind farms in the same region with a total of about 40 MW capacity. This is planned for 2011. RWE Innogy points out that Spain is a very interesting wind power market, which makes it important for the company's growth strategy. The recent changes in the Spanish Government's policy over renewable energy subsidies, especially regarding wind power, may change the Spanish wind power market somewhat though.

Spain has excellent wind conditions and an overall commitment by the government towards developing renewable energy in the future. Payment of cleanly generated electricity is done through fixed and variable tariffs, which is basically the wholesale price increased by a premium for renewable energies.

Siemens opens European wind energy HQ in Hamburg

May 13th, 2009 | Posted in Wind

Siemens has achieved great expansion in Germany and in Europe in general, so the company decided to establish its wind energy HQ for Europe in Hamburg, Germany. The new HQ is starting with about 40 employees, but the company plans to increase this number by creating another 70 jobs in the new HQ.

Siemens is planning to control all sales, project planning, installation and transport operations for Europe, Africa and the Middle East (Near East for some) from Hamburg. The new location is logistically highly qualified for the new approach.

The company plans to strengthen its presence in Scandinavia, United Kingdom, Turkey and North Africa. Their new HQ in Hamburg will greatly help to achieve this.

Russian and Japanese companies join to develop wind farm projects on Russky Island

May 12th, 2009 | Posted in Wind

rushydro-eng RusHydro, Russian renewable energy company (mostly hydropower projects), is going to sign a memorandum on cooperation with Japanese Mitsui and J Power on May 11 or 12, as part of a project to build wind farms on Russky Island, near Vladivostok, eastern most part of Russia.

After wind power potential studies on the island, the Japanese companies will become co-investors in the construction of the new wind farms, participating with as much as 50% in investments. The project's total cost is estimated at about 3 billion rubles (about USD 94 million).

Construction is planned to begin in 2010, and completed sometime in 2012. Initially, the wind farms will have about 36 MW capacity, but will be extended later with additional development, to possibly reach 200 MW. The wind farm will be built as part of preparations for the Asia-Pacific Economic Cooperation summit to be held in Vladivostok in 2012.

Suntech will manufacture solar products in the US

May 11th, 2009 | Posted in Solar

Suntech Power announced today plans to open manufacturing facilities in the US. As part of a strategy to create stronger long-term presence in the US, the company is exploring opportunities in several US states that could be optimal cost-effective locations for production and distribution centers. The company has identified the US market as a long-term growing market, so this move is logical. Suntech is hardly the only major company to decide to create a stronger presence on the US market, as other companies, such as Siemens which is building a wind turbine manufacturing facility, have also recognized the value of being present in the US renewable energy market in the years to come.

Many factors will determine Suntech's final choice of location, among which long-term policy commitments and local manufacturing incentives. The company has already invested quite a lot in establishing a top class solar team, planning to engage in development of 10+ MW projects. By locating its facilities close to the US customers, the company is hoping to significantly reduce logistics issues and costs, increasing just-in-time delivery capabilities.

Siemens is going to build a wind turbine production facility in the US

May 5th, 2009 | Posted in Wind

Siemens is planning to build a production facility for manufacturing wind turbines in Hutchinson, Kansas. About 400 jobs are expected to be created initially. Once production begins Siemens will be able to more effectively meet the growing demand for wind turbines and equipment in the Americas. The facility is going to occupy about 300,000 square feet in area, with construction beginning in August 2009. It will produce nacelles (mounted on top of the wind turbine tower, providing support for the rotor and housing electrical power generation components).

The produced nacelles will weigh about 90 tons, with the first one coming out of the production facility in December 2010. All the produced nacelles will be used in the company's proven and reliable 2.3 MW unit family. The planned output is at about 650 nacelles, equivalent to about 1500 MW of wind turbine capacity.

Two years ago Siemens opened a wind turbine blade factory in Iowa, so the new nacelle manufacturing facility is an expansion of the already present manufacturing operation in the US. Another benefit for the company is it's going to be a lot closer to its customers in North and South America, making delivery much easier and cheaper. Hutchinson is at the center of the country basically, providing very good work force potential and excellent transportation logistics – products will be loaded onto rail, and delivered directly to various locations on the continent. Additionally, products can be shipped using river barges from Catoosa, some 250 miles away from the factory site.

Sunfilm and Sontor merge to become a leading manufacturer of Si-based thin film modules

May 4th, 2009 | Posted in Solar

Cross section of Si tandem thin film module. (Image credit: Sontor)

Sunfilm AG and Sontor Gmbh have merged to form a new company, to be called Sunfilm AG, with the aim to become one of the leading manufacturers of thin film silicon based modules. The merger is based upon several characteristics:

- combined expertise in production and research & development,
- the company reaches a critical size for achieving higher productivity and accelerated growth,
- it will continue full support for its shareholders Q-Cells, Good Energies, NorSun.

The new company will be able to answer the growing demand in the thin film solar market. Sunfilm is already one of the largest junction tandem thin film module manufacturers, with about 85 MWp at two current production sites in Bitterfeld-Wolfen and Grossroehrsdorf, but also with the additional 60 MWp capacity which is under construction in Grossroehrsdorf. The company states they will be able to create a competitive advantage on the market by shear economics of scale. Additionally, the company can achieve various cost savings, including synergies in purchasing, and from consolidating overlapping segments. Sunfilm is aiming to achieve a high research and development position, with the goal to significantly advance the technology of solar modules with an even better performance.

Major shareholders in the company will continue to support the new company. Q-Cells will hold 50%, Good Energies 35% and NorSun 15% stake in the company. This development will work towards strengthening Germany's position as center for PV technology. Production sites will be in Grossroehrsdorf and Bitterfeld-Wolfen, while a research and development center will be located in Bitterfeld-Wolfen.

Aeronautica Windpower will manufacture mid-scale wind turbines in the US

May 1st, 2009 | Posted in Wind

aeronautica-windpower More good news for the US renewable energy market. US Massachussets based company Aeronautica Windpower is going to begin manufacturing mid-scale (65kW – 750 kW) wind turbines in the US. This is yet another indicator of the growing US renewables market, only this time in the mid-power sector. The wind turbines made by Aeronautica are meant to be used in industrial parks, commercial complexes and small neighborhoods – basically, for consumers who wish to cut down on electricity costs and reduce their carbon footprint.

The company is hoping to shorten delivery times and reduce cost by having them made in the US. Previously, Aeronautica marketed Danish Norwin wind turbines, but also has an interesting recycle program which offers refurbished wind turbines.

Nordex opens North American headquarters in Chicago

May 1st, 2009 | Posted in Wind

nordex German wind turbine manufacturer Nordex opened its North American headquarters in Chicago, US. The area has plenty of talent, and with the recent troubles faced by the US automotive industry, there is plenty of talent in the highly skilled workforce now available. One other reason the company chose Chicago was also for the efforts the city has made in environmental leadership.

Nordex' move is also quite logical from another perspective – the US renewable energy market is a fast growing market, and also the largest in the world. With the announced investments and subsidies for renewable energy by the US government, the US renewables market is expected to explode, and naturally every major renewable energy supplier wants a piece of the cake. According to Ralf Sigrist, Nordex President and CEO, the company has chosen Chicago as the location of its headquarters because it puts the company right at the heart of the market and the wind industry.

Norder currently employs about 2200 people, and is involved in manufacturing of large wind turbines (MW class units). It has sustained more than 50% sales growth for the fourth consecutive year. Back in October 2008, the company announced plans to open a manufacturing facility in Arkansas (a US$100 million investment) which will provide jobs for about 700 people, and another 100 jobs in Chicago, by 2015. Manufacture will cover every component, except towers, and will peak at 750 MW annually.

Suzlon considering Ontario as new location for manufacturing operations

April 28th, 2009 | Posted in

suzlon1 Suzlon's decision on whether to enter the market in Canada may come soon. The company is thinking about the Ontario market as a potential home for new manufacturing operation. Suzlon has identified the right combination of policies, infrastructure and local activity in Canada as stimulating enough for the company to consider opening manufacturing operations there. Ontario's Green Energy Act is a very strong initiative which helps differentiate the province from other areas in North America, according to Tulsi Tanti, chairman and CEO of Suzlon Energy Ltd.

Suzlon is considering three factors while thinking about the new location for manufacturing – skilled manpower, logistical costs and government tax support.