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Top energy technology news stories... |
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Munich Re Signs Photovoltaic Module Guarantee Cover for LDK Solar |
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XINYU CITY, China and SUNNYVALE, Calif., March 11 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK) announced today that Munich Re's Special Enterprise Risk unit's new insurance solution will cover the performance warranty of its photovoltaic modules.
The insurance solution covers the performance warranty of LDK Solar modules for a period of 25 years. The warranty guarantees that the modules will perform to at least 90 percent capacity in the first ten years and to at least 80 percent in the remaining 15 years.
The cover offers LDK Solar a greater degree of business certainty and thus constitutes a powerful differentiator in a competitive marketplace. Ultimately it gives operators of solar parks additional economic security in the event of an unforeseen loss in performance of the modules. This new insurance solution is a major stepping-stone in financing photovoltaic projects as it provides additional financial security.
Thomas Blunck, Member of the Board of Management at Munich Re: "We are happy that we acquired LDK Solar as a new client. It shows that our innovative photovoltaic module guarantee cover is beginning to establish a standard in the industry. Investors and lenders will welcome this development."
"We are pleased to become a client of Munich Re and view this insurance solution as a positive development for the PV industry as it provides additional fiscal security in guaranteeing the long-term performance of solar modules," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
The insurance cover developed by Munich Re's unit Special Enterprise Risk will be implemented for Munich Re by one of the group's primary insurers.
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Ventura County Turns Vision for Solar Energy into Action with Dedication of Two New Systems |
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ROSEVILLE, Calif.--(BUSINESS WIRE)--The County of Ventura, Solar Power, Inc. (“SPI”) (OTCBB: SOPW), and Solar Power Partners (“SPP”) held a dedication ceremony on March 10, 2010 at Ventura County’s Saticoy Operations Yard celebrating the completion of the installation of photovoltaic (“PV”) solar systems on two of the County’s buildings. The two systems, a 334.56 kW DC system on the Fleet Services and Public Works buildings at the Saticoy Operations Yard, and a 157.44 kW DC system on the County’s Vanguard building, have begun to provide power to the County’s operations at each location. Combined, the 492 kilowatts DC will generate an estimated 728,000 kilowatt hours of electricity during the first year of production. The system will also provide the County with a hedge against rising electricity rates for years to come. In addition, the systems will also provide the County with significant environmental benefit, producing an environmental offset that is the equivalent of removing 523 pounds (242.27 metric tons) of CO2 from the environment during their first year of operation. |
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Applied Materials Expands Display, Solar Equipment Manufacturing Capability in Taiwan |
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TAINAN, Taiwan--(BUSINESS WIRE)--Applied Materials, Inc., the world’s largest supplier of equipment to the semiconductor, flat panel display (FPD) and solar photovoltaic (PV) industries, today announced the opening of its newly expanded Tainan Manufacturing Center in Tainan, Taiwan. The nearly 15,000 square meter facility will enhance Applied’s capability to serve its FPD and thin film solar PV customers in Asia while capitalizing on Taiwan’s excellent location, strong talent pool and supply chain efficiencies. |
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SunEdison to Build Europe’s Largest Solar Power Plant in Rovigo, Italy |
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ROVIGO, Italy--(BUSINESS WIRE)--SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), received final approval from the Italian government to develop and construct a 72 Megawatt (MW) photovoltaic solar power plant in Northeastern Italy, near the town of Rovigo. When completed, this is expected to be the largest photovoltaic (PV) solar power plant in Europe.
Power generation will begin in the second half of 2010 with final completion expected by year end. In the first full year of operation, the system will generate sufficient energy to power 17,150 homes and avoid 41,000 tons of CO2 – the equivalent of removing 8,000 cars from the road.
SunEdison will jointly develop the project with financing partner Banco Santander. Additional financial partners are expected to join the project for final ownership.
“SunEdison is focused on enabling the growth of global solar markets through strong capabilities in project finance, engineering, low-cost procurement and operations and maintenance services,” commented Carlos Domenech, President of SunEdison.
“Veneto is taking decisive action to advance the use of clean, renewable energy sources,” said Renzo Marangon, government official of the Veneto region. “At the same time, this project is expected to create over 350 local construction jobs and build expertise in advanced energy technologies. We expect Rovigo to serve as a European model for large-scale, alternative-energy projects.”
“A critical element of our approach is working closely with the right partners,” added Pancho Perez, General Manager for Europe and MENA region at SunEdison, “including developers, suppliers and contractors. For the Rovigo project, we selected Isolux Corsán, a large-scale infrastructure construction company with a strong track record in utility-scale solar plants.”
“We are pleased to be selected by SunEdison to construct the largest PV solar plant in Europe. We are looking forward to extending this partnership beyond Italy,” said Luis Delso, President of Isolux Corsán.
At 72 megawatts, this solar-power plant will be the largest in Europe. Currently, the largest facility is a 60MW solar farm in Olmedilla, Spain, followed by a 50 MW in Strasskirchen, Germany, built by MEMC through a joint venture agreement.
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Suniva Named “Renewable Energy Exporter of the Year” by Export-Import Bank of the United States |
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WASHINGTON--(BUSINESS WIRE)--Suniva, Inc., a U.S. manufacturer of high-efficiency monocrystalline silicon solar cells and modules, today announced that it has been named “Renewable Energy Exporter of the Year” by the Export-Import Bank of the United States. The award was presented today at the EX-IM Bank Annual Conference prior to Suniva CEO John Baumstark’s introduction of President Barack Obama to attendees. |
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