|
FREE CONTENT: SOLAR SCENE March 2007 |
|
|
|
First published in Cleantech magazine. March 2007 © Cleantech Investor Ltd. 2007
PowerFilm set to beat expectations
US based PowerFilm, stated in December that it expects full year results, due for release in March to be ahead of expectations. PowerFilm develops thin, flexible solar panels by fixing an amorphous silicon sunlight absorber layer onto a plastic substrate as thin as 0.025 mm. Its proprietary low cost manufacturing process interconnects individual solar cells within the overall solar panel. Typical applications include portable and remote power, building integrated power and military. PowerFilm listed on AIM in May last year at 120p. The shares are currently trading at 205p.
Tesco commissions largest ever solar roofing system from SIT
Large scale building integrated photovoltaic roofing system manufacturer, SIT, has landed a $13 million contract from Tesco in the US, to install a solar roofing systs voluntary em at Tesco USA’s new distribution centre at Riverside, California. The system, to be installed on two buildings, will cover more than 500,000 square feet of roof space, which SIT believe makes it the largest in the world. It should produce more than 2.6 million kWh of energy annually, meeting a fifth of the power needs of the Riverside site and saving 1,200 tons of carbon emissions annually.
ReneSola trading update
ReneSola released a trading update in january confirming that 2006 sales should be around $86 million and that pre tax profit will be between $22 million and £23 million. Annual production capacity grew from 14 MW to 80 MW and expansion will accelerate rapidly in 2007 to a planned capacity of 265 MW by the end of the year. The company has signed contracts for 80 Mw of monocrystalline wafers for 2007 delivery and is negotiating further contracts which would take the order book for monocrystalline to 94 MW, or 85% of planned wafer output. Meanwhile, the first batch of multicrystalline furnaces should be delivered in May this year and when the 20 furnaces on order have been installed, multicrystalline production capacity should reach 100 MW.
ReneSola uses waste silicon in its production process so the company has avoided problems from silicon shortages. For 2007, the company needs 1,600 tonnes of silicon. It has contracted feedstock delivery of 800 tonnes, has 360 tonnes in stock and anticipates monthly purchases of between 60 tonnes and 90 tonnes, which should be sufficient. Quality issues with wafers being sliced by newly installed wire saws are being resolved and ReneSola is on track for production output this year to be more than three times the 2006 level, at an anticipated 150 MW.
Rush of Chinese solar listings in US
ReneSola was the best performing stock in the sector on AIM last year. The influx of Chinese companies has not been welcomed by all in the UK. However, as AIM investors debate the pros and cons of internationalisation, Chinese solar manufacturers have been queuing up to list on US markets. China’s JA Solar Holdings gained 30% on its Nasdaq debut in early February, following on the heels of the December IPOs of Trina Solar on the New York Stock Exchange and Solarfun on Nasdaq. |
