China installs 7.69 gigawatts of hydroelectric capacity in Jan-Jul 2011
China added 7.69 gigawatts of fresh hydropower capacity and 27.74 gigawatts of new thermal power capacity in the first seven months of 2011, the National Energy Administration reported.
National power consumption for the period grew 12.2 percent in annual terms to 2,686.9 TWh. In July alone, electricity consumption went up by 11.8 percent to 434.9 TWh.
Power generating facilities throughout China booked average utilization hours of 2,778 hours for the seven months through July, up 56 hours on the year. Hydropower installations reported average utilization hours of 1,774 hours, down 83 percent on a year earlier.
Chinese Tianjin Zhonghuan to bolster capacity of solar arm
Chinese semiconductor maker Tianjin Zhonghuan Semiconductor Co Ltd unveiled plans to expand the production capacity of its solar power subsidiary Inner Mongolia Zhonghuan Photovoltaic Material Co Ltd.
For that purpose, Tianjin intends to invest RMB2.3 billion (US$358 million) in the unit. Zhonghuan Photovoltaic makes silicon and wafers for the solar photovoltaic markets.
China Ming Yang unveils USD-50m share buyback plan
On August 15, wind turbine maker China Ming Yang Wind Power Group said it would buy back up to US$50 million of its American Depository Shares (ADSs).
The company will repurchase the ADSs in the open market or in negotiated transactions at intervals depending on market conditions and other factors and subject to relevant rules under U.S. securities regulations. Ming Yang will finance the repurchase from its available working capital.
U.S. Ascent Solar sells stake, to form joint venture with China’s TFG Radiant
U.S. thin-film solar module maker Ascent Solar Technologies on August 15 said it had divested a stake and agreed to form a joint venture with China’s TFG Radiant Group under a long-term strategic partnership deal.
The total value of the partnership agreement is US$450 million, Ascent said.
TFG Radiant has bought 6.4 million Ascent shares at a price of US$1.15 per share, which is a premium of 56 percent to the closing price of Ascent stock on August 12. TFG would also receive the right to buy additional 9.5 million shares at US$1.55 apiece, subject to certain conditions, Ascent said.
Under the joint development agreement, TFG will build a photovoltaic module factory in China at an estimated cost of US$165 million and an initial production capacity of 100 megawatts a year, which will be based on the copper, indium, gallium, diselenide photovoltaic module production technology exclusively licensed from Ascent for East Asia. Ascent will assist in the plant’s installation and own a stake in the project. Ascent will also receive royalty payments on sales from the plant, license fees and non-recurring engineering fees from TFG.
TFG is a joint venture of China’s property and construction firm Radiant Group and Singapore’s investment firm Tertius Financial Group.
JA Solar wins 21 megawatt solar products supply deal in China
Chinese JA Solar on August 16 said it had agreed to deliver 21 megawatts of solar products to local green energy firm Huanghe Hydropower Development Co Ltd, a unit of power producer China Power Investment Corp.
Huanghe Hydropower will use the products for a solar project in China.
The photovoltaic equipment maker said it had to deliver the modules by September.
SDIC to boost interest in SDIC Huajing Power by 2 percent
Chinese SDIC Huajing Power Holdings said last week that its parent – State Development Investment Corp (SDIC) – would bolster its share in the company by as much as 2 percent in the next 12 months.
At present, SDIC holds a 70.61 percent stake in Huajing Power, or 1.41 billion of the company’s stock.
SDIC Huajing develops and operates wind, thermal and hydropower plants. Just recently, the company reported a net profit for the first half of 2011 of RMB122 million (US$19 million), up 2.84 percent year-on-year.
Revenue stood at RMB9.61 billion (US$1.5 billion), up 26.75 percent in annual terms. The company produced 29.78 TWh of power during the reporting period, an increase of 14.99 percent year-on-year.
China Sunergy secures US$160 million in China Development Bank loans
Solar product maker China Sunergy on August 17 said it had arranged US$160 million in credit facilities with China Development Bank to fund its growth.
The company’s two Chinese units, China Sunergy (Nanjing) Co Ltd and CEEG (Nanjing) Renewable Energy Co Ltd, have signed the credit agreements and will use the loans for cell production capacity expansion and for working capital needs.
The facilities include a combination of long-term and short-term loans, China Sunergy said.
China Ming Yang to build 198 megawatts of wind power capacity for China Wind Power
On August 18, wind turbine maker China Ming Yang Wind Power Group said it had agreed to build the 198-megawatt Phase III wind farm project of Canada-based China Wind Power International Corp. in China.
The project represents the third phase of China Wind Power’s five-phase plan to build about 800 megawatts of wind power capacity and includes four wind farms of 45 megawatts capacity each, which are expected to produce some 400 million kWh of electricity a year or RMB244 million (US$38 million) when in full operation.
Under the engineering, procurement and construction (EPC) agreement, China Ming Yang has to supply and install 132 units of 1.5-megawatt wind turbines and provide engineering and construction management for the wind farms.
The project is slated for completion by the end of the second quarter of 2012 and Ming Yang said it has already commenced work on the contract.
Phase III wind farms are located in Heilongjiang Province, close to China Wind Power’s Phase I and II projects. Phase I is completed and Phase II with a total capacity of 49.5 megawatts is under construction and is seen to be finished by the end of the year.
Guidong Electric subsidiary to acquire 3.65 MW of hydropower capacity
Hezhou Shangcheng Electric Power, a unit of Chinese hydropower company Guangxi Guidong Electric Power Co Ltd., will expand its operating capacity by 3.65 megawatts via the acquisition of two hydroelectric stations.
The subsidiary is to pay for the assets RMB27 million (US$4.2 million), yicai.com reported. The purchase will support Shangcheng Electric’s overall power grid operations.
Guidong Electric produced 1.134 million MWh of power in 2010. The company distributes electricity to Hezhou, Wuzhou, Guangdong and Hunan.
CNPV Solar Power to supply 300 megawatts of modules to U.S. Solartec
Luxembourg-registered solar firm CNPV Solar Power SA on August 19 said it had agreed to supply 300 megawatts of solar modules to U.S. power project services provider Solartec Group.
The deal is part of a strategic partnership agreement and a memorandum of understanding to form a joint venture on specific projects, CNPV Solar said.
CNPV will deliver the modules in three years, starting with 20 megawatts to be supplied this year.
The modules will be used in projects in North America, Europe, Africa and Asia.
