Top Stories

Grid List

GRAND PRAIRIE, Texas--(BUSINESS WIRE)--IKEA, the world’s leading home furnishings retailer, today announced that the solar panel installation is complete atop its future Grand Prairie, TX store opening late Fall 2017 as the company’s second Dallas-Fort Worth-area store. The array is the fourth IKEA solar array in the State of Texas. The Grand Prairie store’s 181,500-square-foot solar array consists of a 1.25 MW system, built with 2,800 large format panels that will produce approximately 2,000,000 kWh of electricity annually for the store, the equivalent of reducing 1,406 tons of carbon dioxide (CO2) – equal to the emissions of 197 cars or providing electricity for 208 homes yearly (calculating clean energy equivalents at www.epa.gov/energy/greenhouse-gas-equivalencies-calculator).

For the development, design and installation of the new store’s solar power system, IKEA selected SunPower, one of the world's most innovative and sustainable energy companies providing complete solar solutions and services. MYCON Construction is building the store that reflects the same unique architectural design for which IKEA stores are known worldwide.

“Completing the solar installation is another exciting and sustainable step in the progress towards opening the future IKEA Grand Prairie,” said Matt Hunsicker, store manager. “IKEA strives to create a sustainable life for communities where we operate, and IKEA Grand Prairie is adding to this goal with our fourth rooftop solar array in Texas.”

This array represents the 47th solar project for IKEA in the U.S., contributing to the IKEA solar presence atop more than 90% of its U.S. locations, with a total generation goal of more than 44 MW. IKEA owns and operates each of its solar PV energy systems atop its buildings – as opposed to a solar lease or PPA (power purchase agreement) – and globally allocated $2.5 billion to invest in renewable energy through 2020, reinforcing its confidence and investment in solar photovoltaic technology. Consistent with the goal of being energy independent by 2020, IKEA has installed more than 700,000 solar panels on buildings across the world and owns approximately 300 wind turbines, including 104 in the U.S.

IKEA, drawing from its Swedish heritage and respect of nature, believes it can do good business while minimizing impacts on the environment. Globally, IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. Specific U.S. sustainable efforts include: recycling waste material; incorporating environmental measures into the actual buildings with energy-efficient HVAC and lighting systems, recycled construction materials, skylights in warehouse areas, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, and selling only LED bulbs. IKEA has installed electric vehicle charging stations at 30 stores, with more locations planned, including 3 units at the future Grand Prairie store.

The 290,000-square-foot future IKEA Grand Prairie and its 1,100 parking spaces is being built on 30 acres along the eastern side of State Highway 161 and Mayfield Road, north of Interstate-20. Until IKEA Grand Prairie opens as the state’s fourth store, customers can shop at Collin County’s IKEA Frisco or online at IKEA-USA.com. Other Texas IKEA stores are in Houston and Round Rock, with a San Antonio-area one planned to open Summer 2019 in Live Oak, and a Fort Worth store to open as the third DFW-area location, also in Summer 2019.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 400 IKEA stores in 49 countries, including 44 in the U.S. IKEA has been ranked among “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

piyush goyal, coal industry, coal supply, coal minister, coal mines, indian coal industry, coal mining, industry news Goyal said the ministry was regularising production for the last 18 months as power plants were not lifting the fuel because of its easier availability owing to all-time high record production. (PTI)

Coal Minister Piyush Goyal today said his ministry is taking urgent steps to ensure coal supplies to power stations stabilise by month end or early October. He was speaking at the annual convention of Indo-American Chamber of Commerce (IACC) in Mumbai. Goyal’s assurance came after IACC President N Srinivasan flagged the issue of the depleting stock of coal at power stations. “Instead of buffer stock of 30-40 days, most of the power stations are having stock for 2-3 days,” a statement quoted Srinivasan as saying.

While promising that coal supply will be ramped up soon, Goyal said the ministry was regularising production for the last 18 months as power plants were not lifting the fuel because of its easier availability owing to all-time high record production. He said the coal secretary had written to chief secretaries of all states urging them to impress upon power stations to start stocking coal but the plea fell on deaf ears.

The surge in demand for coal could be attributed to the fact that power supply from hydel, nuclear and other sources fell by 12 per cent, 36 per cent and 7 per cent respectively last month and as a result demand for power from thermal power plants rose substantially, he added. He however said the shortage of coal stock at power stations augurs well as it will reignite the private investment.

Responding to another query from Srinivasan whether the government would restore the coal cess, which is subsumed under GST, Goyal said the coal cess was introduced with the twin objective of funding promotion of renewable energy and for fair pricing of coal-based energy generation. While assuring that the importance given to renewable energy would continue vigorously, he said the introduction of GST is in the national interest and sectarian interests should be submerged in the large interest of the nation.

Goyal, who was recently given the charge of railway ministry also, said 100 per cent electrification of railways was his priority so that Rs 16,000 crore spent on diesel import every year for railways are saved. The railways will focus to ramp up renewable energy considerably by utilising flexible light-weight solar panels on the rakes and stations, he said.

Goyal, who had a meeting with Maharashtra Chief Minister Devendra Fadnavis late last night, informed that he would come up with initiatives to rapidly scale up facilities for suburban railway commuters. The minister harped on the need for improving the railway safety saying India needs to invest heavily in railway infrastructure to meet the decades-old backlog.

During the past week, more and more media report that the US stance on the landmark climate agreement is softening, leaving wide room for interpretation that maybe the US is ready to re-negotiate its participation to the Agreement.

It all started when the Guardian reported that Secretary of State Rex Tillerson and National Security Adviser HR McMaster have hinted that the US is open to negotiation.

Ever since, media news keep coming up, reporting quotes and comments from government official from both sides, creating more intrigue on what the US is actually considering.

On Saturday, the White House issued a statement denying the rumours, stating that US’s position on leaving the Agreement was unchanged.

More specifically, on an email sent to The Guardian, White House Press Secretary Sarah Huckabee Sanders said: “There has been no change in the United States’ position on the Paris agreement. As the President has made abundantly clear, the United States is withdrawing unless we can re-enter on terms that are more favorable to our country”.

The Wall Street Journal reported that during last  weekend’s meeting in Montreal, Trump administration officials had said that US will not pull out of the climate agreement, and that they were willing to re-engage with the deal.

The WSJ quoted Miguel Arias Cañete, the Climate Action & Energy Commissioner of the EU, saying: “The US has stated that they will not renegotiate the Paris accord, but they will try to review the terms on which they could be engaged under this agreement”.

AFP agency Cañete also revealed that there would be a meeting on the sidelines of the UN general assembly with US representatives to “assess what is the real US position”.

Mr Cañete said: “It’s a message which is quite different to the one we heard from President Trump in the past”.

On June, President Trump announced that the US would pull out from the Paris Agreement, but the rules of the pact do not allow countries willing to leave to physically pull out until three years after they announce their intentions.

The US President had then adapted a strong rhetoric that the US would first leave the pact, and would later renegotiate better terms.

The Guardian notices that this sting rhetoric has now changed, as the statements now imply that the US would re-negotiate indeed, before officially leaving the Agreement.

In an interview with CBS’s Face the Nation, said referring to Trump’s top economic adviser Tillerson: “So I think the plan is for Director Cohn to consider other ways in which we can work with partners in the Paris climate accord. We want to be productive. We want to be helpful”.

As reported by the Guardian, the National security adviser H.R. McMaster said on ABC’s This Week that “the President is open to any discussions that will help us improve the environment, that will help ensure our energy security and will advance out prosperity and the prosperity of American businesses and American workers”.

In addition, The Washington Post reported that he called the Paris Agreement “a bad deal for the American people and a bad deal for the environment”.

Jochen Flasbarth, the State Secretary of the German Federal Ministry for the Environment has commented: “The Paris agreement cannot be renegotiated”.

“National pledges can be updated but not weakened. After all, current pledges are not sufficient to limit global warming to 2C, let alone 1.5C”.

Despite indications not being clear on what the US stance will be, one thing is for sure: Climate Week NYC and the pathway to COP23 have surely created a momentum for climate talks again.

Stay always updated with more informative climate news by subscribing to the Climate Action newsletter here

JUNO BEACH, Fla., Sept. 19, 2017 /PRNewswire/ -- NextEra Energy Partners, LP (NYSE: NEP) today announced the pricing of $550 million of 4.25 percent senior unsecured notes due 2024 and $550 million of 4.50 percent senior unsecured notes due 2027 (the "notes") to be issued by its direct subsidiary, NextEra Energy Operating Partners, LP (NEP OpCo), in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons under Regulation S under the Securities Act, subject to market and other conditions. The previously announced offering is expected to close on Sept. 25, 2017, subject to customary closing conditions.

The notes will pay interest semi-annually at annual rates of 4.25 percent and 4.50 percent, respectively, and will mature on Sept. 15, 2024, and on Sept. 15, 2027, respectively. The notes will be fully and unconditionally guaranteed on a senior basis by NextEra Energy Partners and NextEra Energy US Partners Holdings, LLC, a direct subsidiary of NEP OpCo ("NEP US Holdings").

NEP OpCo estimates the net proceeds from the notes offering prior to offering expenses are approximately $1,089 million. NEP OpCo intends to use a portion of the net proceeds from this offering to pay off the outstanding balance of $130 million under its revolving credit facility, repay the full $950 million outstanding existing indebtedness under NEP US Holdings' variable rate senior secured term loan agreements that largely mature in 2018 and pay related fees, expenses and other costs. Any remaining proceeds are expected to be used for general partnership purposes.

The offer and sale of notes and the guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction. Accordingly, the notes are being offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons under Regulation S under the Securities Act. The notes and the guarantees are not transferable absent registration or an applicable exemption from the registration requirements of the Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction.

NextEra Energy Partners, LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE) to acquire, manage and own contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun. The seven natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. The NET Mexico Pipeline, the largest pipeline in the portfolio, provides a critical source of natural gas transportation for low-cost, U.S.-sourced shale gas to Mexico.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy Partners, LP (together with its subsidiaries, NEP) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NEP's control. Forward-looking statements in this news release include, among others, statements concerning cash available for distributions expectations and future operating performance. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "aim," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NEP and its business and financial condition are subject to risks and uncertainties that could cause NEP's actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, the following: NEP has a limited operating history and its projects include renewable energy projects that have a limited operating history. Such projects may not perform as expected; NEP's ability to make cash distributions to its unitholders is affected by wind and solar conditions at its renewable energy projects; NEP's business, financial condition, results of operations and prospects can be materially adversely affected by weather conditions, including, but not limited to, the impact of severe weather; Operation and maintenance of renewable energy projects involve significant risks that could result in unplanned power outages, reduced output, personal injury or loss of life; Natural gas gathering and transmission activities involve numerous risks that may result in accidents or otherwise affect the Texas pipelines' operations; NEP depends on the Texas pipelines and certain of the renewable energy projects in its portfolio for a substantial portion of its anticipated cash flows; NEP is pursuing the expansion of natural gas pipelines in its portfolio that will require up-front capital expenditures and expose NEP to project development risks; NEP's ability to maximize the productivity of the Texas pipeline business and to complete potential pipeline expansion projects is dependent on the continued availability of natural gas production in the Texas pipelines' areas of operation; Terrorist or similar attacks could impact NEP's projects, pipelines or surrounding areas and adversely affect its business; The ability of NEP to obtain insurance and the terms of any available insurance coverage could be materially adversely affected by international, national, state or local events and company-specific events, as well as the financial condition of insurers. NEP's insurance coverage does not insure against all potential risks and it may become subject to higher insurance premiums; Warranties provided by the suppliers of equipment for NEP's projects may be limited by the ability of a supplier to satisfy its warranty obligations, or by the terms of the warranty, so the warranties may be insufficient to compensate NEP for its losses; Supplier concentration at certain of NEP's projects may expose it to significant credit or performance risks; NEP relies on interconnection and transmission facilities of third parties to deliver energy from its renewable energy projects and, if these facilities become unavailable, NEP's wind and solar projects may not be able to operate or deliver energy; If third-party pipelines and other facilities interconnected to the Texas pipelines become partially or fully unavailable to transport natural gas, NEP's revenues and cash available for distribution to unitholders could be adversely affected; NEP's business is subject to liabilities and operating restrictions arising from environmental, health and safety laws and regulations, compliance with which may require significant capital expenditures, increase NEP's cost of operations and affect or limit its business plans; NEP's renewable energy projects may be adversely affected by legislative changes or a failure to comply with applicable energy regulations; A change in the jurisdictional characterization of some of the Texas pipeline entities' assets, or a change in law or regulatory policy, could result in increased regulation of these assets, which could have a material adverse effect on NEP's business, financial condition, results of operations and ability to make cash distributions to its unitholders; NEP may incur significant costs and liabilities as a result of pipeline integrity management program testing and any necessary pipeline repair or preventative or remedial measures; The Texas pipelines' operations could incur significant costs if the Pipeline and Hazardous Materials Safety Administration or the Railroad Commission of Texas adopts more stringent regulations; Petroleos Mexicanos (Pemex) may claim certain immunities under the Foreign Sovereign Immunities Act and Mexican law, and the Texas pipeline entities' ability to sue or recover from Pemex for breach of contract may be limited and may be exacerbated if there is a deterioration in the economic relationship between the U.S. and Mexico; NEP does not own all of the land on which the projects in its portfolio are located and its use and enjoyment of the property may be adversely affected to the extent that there are any lienholders or leaseholders that have rights that are superior to NEP's rights or the U.S. Bureau of Land Management suspends its federal rights-of-way grants; NEP is subject to risks associated with litigation or administrative proceedings that could materially impact its operations, including, but not limited to, proceedings related to projects it acquires in the future; NEP's wind projects located in Canada are subject to Canadian domestic content requirements under their Feed-in-Tariff contracts; NEP's cross-border operations require NEP to comply with anti-corruption laws and regulations of the U.S. government and non-U.S. jurisdictions; NEP is subject to risks associated with its ownership or acquisition of projects or pipelines that remain under construction, which could result in its inability to complete construction projects on time or at all, and make projects too expensive to complete or cause the return on an investment to be less than expected; NEP relies on a limited number of customers and is exposed to the risk that they are unwilling or unable to fulfill their contractual obligations to NEP or that they otherwise terminate their agreements with NEP; NEP may not be able to extend, renew or replace expiring or terminated power purchase agreements (PPA) at favorable rates or on a long-term basis; NEP may be unable to secure renewals of long-term natural gas transportation agreements, which could expose its revenues to increased volatility; If the energy production by or availability of NEP's U.S. renewable energy projects is less than expected, they may not be able to satisfy minimum production or availability obligations under the U.S. Project Entities' PPAs; NEP's growth strategy depends on locating and acquiring interests in additional projects consistent with its business strategy at favorable prices; NextEra Energy Operating Partners' (NEP OpCo) partnership agreement requires that it distribute its available cash, which could limit NEP's ability to grow and make acquisitions; Lower prices for other fuel sources may reduce the demand for wind and solar energy; Reductions in demand for natural gas in the United States or Mexico and low market prices of natural gas could materially adversely affect the Texas pipelines' operations and cash flows; Government laws, regulations and policies providing incentives and subsidies for clean energy could be changed, reduced or eliminated at any time and such changes may negatively impact NEP's growth strategy; NEP's growth strategy depends on the acquisition of projects developed by NextEra Energy, Inc. (NEE) and third parties, which face risks related to project siting, financing, construction, permitting, the environment, governmental approvals and the negotiation of project development agreements; Acquisitions of existing clean energy projects involve numerous risks; Renewable energy procurement is subject to U.S. state and Canadian provincial regulations, with relatively irregular, infrequent and often competitive procurement windows; NEP may continue to acquire other sources of clean energy and may expand to include other types of assets. Any further acquisition of non-renewable energy projects may present unforeseen challenges and result in a competitive disadvantage relative to NEP's more-established competitors; NEP faces substantial competition primarily from regulated utilities, developers, independent power producers, pension funds and private equity funds for opportunities in North America; The natural gas pipeline industry is highly competitive, and increased competitive pressure could adversely affect NEP's business; NEP may not be able to access sources of capital on commercially reasonable terms, which would have a material adverse effect on its ability to consummate future acquisitions; Restrictions in NEP OpCo's subsidiaries' revolving credit facility and term loan agreements could adversely affect NEP's business, financial condition, results of operations and ability to make cash distributions to its unitholders; NEP's cash distributions to its unitholders may be reduced as a result of restrictions on NEP's subsidiaries' cash distributions to NEP under the terms of their indebtedness; NEP's subsidiaries' substantial amount of indebtedness may adversely affect NEP's ability to operate its business, and its failure to comply with the terms of its subsidiaries' indebtedness could have a material adverse effect on NEP's financial condition; Currency exchange rate fluctuations may affect NEP's operations; NEP is exposed to risks inherent in its use of interest rate swaps; NEE exercises significant influence over NEP; NEP receives credit support from NEE and its affiliates. NEP's subsidiaries may default under contracts or become subject to cash sweeps if credit support is terminated, if NEE or its affiliates fail to honor their obligations under credit support arrangements, or if NEE or another credit support provider ceases to satisfy creditworthiness requirements, and NEP will be required in certain circumstances to reimburse NEE for draws that are made on credit support; NextEra Energy Resources, LLC (NEER) or one of its affiliates is permitted to borrow funds received by NEP's subsidiaries and is obligated to return these funds only as needed to cover project costs and distributions or as demanded by NEP OpCo. NEP's financial condition and ability to make distributions to its unitholders, as well as its ability to grow distributions in the future, is highly dependent on NEER's performance of its obligations to return all or a portion of these funds; NEP may not be able to consummate future acquisitions; NEER's right of first refusal may adversely affect NEP's ability to consummate future sales or to obtain favorable sale terms; NextEra Energy Partners GP, Inc. (NEP GP) and its affiliates may have conflicts of interest with NEP and have limited duties to NEP and its unitholders; NEP GP and its affiliates and the directors and officers of NEP are not restricted in their ability to compete with NEP, whose business is subject to certain restrictions; NEP may only terminate the Management Services Agreement among, NEP, NextEra Energy Management Partners, LP (NEE Management), NEP OpCo and NextEra Energy Operating Partners GP, LLC (NEP OpCo GP) under certain specified conditions; If the agreements with NEE Management or NEER are terminated, NEP may be unable to contract with a substitute service provider on similar terms; NEP's arrangements with NEE limit NEE's potential liability, and NEP has agreed to indemnify NEE against claims that it may face in connection with such arrangements, which may lead NEE to assume greater risks when making decisions relating to NEP than it otherwise would if acting solely for its own account; NEP's ability to make distributions to its unitholders depends on the ability of NEP OpCo to make cash distributions to its limited partners; If NEP incurs material tax liabilities, NEP's distributions to its unitholders may be reduced, without any corresponding reduction in the amount of the IDR fee; Holders of NEP's common units may be subject to voting restrictions; NEP's partnership agreement replaces the fiduciary duties that NEP GP and NEP's directors and officers might have to holders of its common units with contractual standards governing their duties; NEP's partnership agreement restricts the remedies available to holders of NEP's common units for actions taken by NEP's directors or NEP GP that might otherwise constitute breaches of fiduciary duties; Certain of NEP's actions require the consent of NEP GP; Holders of NEP's common units currently cannot remove NEP GP without NEE's consent; NEE's interest in NEP GP and the control of NEP GP may be transferred to a third party without unitholder consent; The IDR fee may be assigned to a third party without unitholder consent; NEP may issue additional units without unitholder approval, which would dilute unitholder interests; Reimbursements and fees owed to NEP GP and its affiliates for services provided to NEP or on NEP's behalf will reduce cash distributions to or from NEP OpCo and from NEP to NEP's unitholders, and the amount and timing of such reimbursements and fees will be determined by NEP GP and there are no limits on the amount that NEP OpCo may be required to pay; Discretion in establishing cash reserves by NEP OpCo GP may reduce the amount of cash distributions to unitholders; NEP OpCo can borrow money to pay distributions, which would reduce the amount of credit available to operate NEP's business; Increases in interest rates could adversely impact the price of NEP's common units, NEP's ability to issue equity or incur debt for acquisitions or other purposes and NEP's ability to make cash distributions to its unitholders; The price of NEP's common units may fluctuate significantly and unitholders could lose all or part of their investment; The liability of holders of NEP's common units, which represent limited partnership interests in NEP, may not be limited if a court finds that unitholder action constitutes control of NEP's business; Unitholders may have liability to repay distributions that were wrongfully distributed to them; Provisions in NEP's partnership agreement may discourage or delay an acquisition of NEP that NEP unitholders may consider favorable, which could decrease the value of NEP's common units, and could make it more difficult for NEP unitholders to change NEP's board of directors; NEP's board of directors, a majority of which may be affiliated with NEE, decides whether to retain separate counsel, accountants or others to perform services for NEP; The New York Stock Exchange does not require a publicly traded limited partnership like NEP to comply with certain of its corporate governance requirements; Issuance of the Series A convertible preferred units will dilute common unitholders' ownership in NEP and may decrease the amount of cash available for distribution for each common unit; The Series A convertible preferred units will have rights, preferences and privileges that are not held by, and will be preferential to the rights of, holders of the common units; NEP's future tax liability may be greater than expected if NEP does not generate net operating losses (NOLs) sufficient to offset taxable income or if tax authorities challenge certain of NEP's tax positions; NEP's ability to use NOLs to offset future income may be limited; NEP will not have complete control over NEP's tax decisions; A valuation allowance may be required for NEP's deferred tax assets; Distributions to unitholders may be taxable as dividends; Unitholders who are not resident in Canada may be subject to Canadian tax on gains from the sale of common units if NEP's common units derive more than 50% of their value from Canadian real property at any time. NEP discusses these and other risks and uncertainties in its current report on Form 8-K filed on August 7, 2017 and other SEC filings, and this news release should be read in conjunction with such SEC filings made through the date of this news release. The forward-looking statements made in this news release are made only as of the date of this news release and NEP undertakes no obligation to update any forward-looking statements.

View original content with multimedia:http://www.prnewswire.com/news-releases/nextera-energy-partners-lp-announces-the-pricing-of-550-million-of-425-percent-senior-notes-due-2024-and-550-million-of-450-percent-senior-unsecured-notes-due-2027-300521879.html

SOURCE NextEra Energy Partners, LP

Related Links

http://www.nexteraenergypartners.com

RAINBACH IN MÜHLKREIS, Austria, September 19, 2017 /PRNewswire/ --

  • Kreisel Electric accelerates its international growth course
  • Patrick Knapp-Schwarzenegger acquires a stake in the company together with a group of strategic partners
From left: Markus Kreisel, Christian Schlogl (both management board), Patrick Knapp-Schwarzenegger, (strategic partner), and Andre Felker (CMO) from Kreisel Electric. Kreisel Electric is a solution provider for electronic storage solutions. Founded in 2014, the company is growing ever since. On 19 September 2017, the new research & development center opens as its headquarters. (PRNewsfoto/Kreisel Electric GmbH)
From left: Markus Kreisel, Christian Schlogl (both management board), Patrick Knapp-Schwarzenegger, (strategic partner), and Andre Felker (CMO) from Kreisel Electric. Kreisel Electric is a solution provider for electronic storage solutions. Founded in 2014, the company is growing ever since. On 19 September 2017, the new research & development center opens as its headquarters. (PRNewsfoto/Kreisel Electric GmbH)

Kreisel Electric opens its new high-tech research and development center as its headquarters today in Rainbach, Mühlkreis district, Upper Austria. The new location, which comprises almost 7,000 m2 of space, includes a prototype workshop and a completely automated manufacturing line for Kreisel Electric battery storage devices. These devices can be used in small-batch production of passenger vehicles, utility vehicles, buses, boats and airplanes, as well as in storage solutions. With the new location, where more than 200 employees will work starting in 2018, Kreisel Electric intends to accelerate its growth course and expand its e-mobility business internationally. "We have laid the cornerstone in Austria. From here, we now want to impress customers all over the world with our solutions," said Christian Schlögl, the CEO responsible for strategic development at Kreisel Electric.

     (Photo: http://mma.prnewswire.com/media/558102/Kreisel_Electric_Partners.jpg )

The Austrian federal chancellor Mag. Christian Kern is enthusiastic about Kreisel Electric's technology and is convinced of the company's great potential: "I am very proud that Kreisel Electric is advancing the process of electrification in Austria and worldwide as the technology leader. Human ingenuity is the basis for innovation and technology and therefore for future growth and jobs. We want to be the pioneer in this regard and Kreisel is a successful example that proves two things: first, that you do not necessarily need to have studied at MIT or Harvard to found a successful company, and second, that we in Austria have the potential of playing in the top league."

Kreisel Electric will be supported in the future by Los Angeles-based entrepreneur and attorney Patrick Knapp-Schwarzenegger, nephew of former California Governor Arnold Schwarzenegger. He leads a group of strategic partners that is purchasing a stake in Kreisel Electric through the U.S. company Clean Machine Inc. Knapp-Schwarzenegger and his partners maintain a worldwide network of prominent figures in politics and business, especially in the United States, and backed by their experience they will play a leading role in the international expansion plans. "The future belongs to Kreisel Electric's technologies. California has already led the way by showing that jobs and profits can be generated with renewable energy technologies, and have a positive effect on the environment. Our goal is to make Kreisel Electric a global market leader in e-mobility and I am looking forward to working closely and successfully with the outstanding Kreisel Electric team," said Knapp-Schwarzenegger.

New research and development center underscores Kreisel's technology leadership  

The opening of the new building, which is built in the shape of the Kreisel Electric logo, will enable the innovative provider of system solutions to grant licenses and manufacture small-batch runs itself in order to meet the increasing worldwide demand. In this way, Kreisel Electric will strive to further extend its technology leadership position internationally with B2B customers in Europe, the United States, India and Asia and reinforce its position as a global supplier of electricity storage solutions.

The new high-tech research and development center runs on power it generates itself. A 90m² photovoltaics plant (output: 250 kWp), a battery storage device with a capacity of 1,248 kWh, a 17,000-liter hot water tank and the use of waste heat and waste pumps help to generate the necessary energy to manufacture the batteries and feed power to its own power grid. The Kreisel Systems Division is responsible for planning and implementing the entire building concept.

Kreisel Electric makes electric automobiles safe, powerful, efficient and suitable for everyday use  

Using modern technology and great engineering skill, Kreisel Electric manufactures the lightest and most efficient battery on the market, weighing less than 4.1 kg/kWh and has a power density of 1.95 dm2/kWh. The special casing of the battery cells boosts the range and lifespan of the batteries. A circulating, non-flammable and environmentally friendly fluid allows for excellent thermal management and the batteries are manufactured by means of an innovative laser-welding process. The maximum total charging capacity of up to 320 kW allows for quick charging to about 80% of the battery's capacity or a driving range of 300 km in about 20 minutes. Compared to the conventional battery solutions of other manufacturers, the Kreisel system can increase the range of electric automobiles by up to 65%. The battery is more than 30 percent lighter than other manufacturers' battery solutions and the production costs are many times lower, thanks to the fully automated Kreisel Electric manufacturing process. "This makes electric vehicles suitable for everyday use," said Markus Kreisel, CEO of Kreisel Electric.

Kreisel Electric has already successfully retrofitted many combustion-engine automobiles to prove the technological capability of its batteries. Besides electrifying a Mercedes G-class for Arnold Schwarzenegger, Kreisel Electric has also equipped the EVEX Porsche 910 with an electric motor featuring an output of 360 KW and a battery capacity of 53 kWh. These features, coupled with the company's own automatic 2-gear transmission, allow for 0-to-100 km/h acceleration in 2.5 seconds and a maximum speed of more than 300 km/h.

Kreisel Electric will employ storage solutions in other industries as well  

In addition to the innovative manufacturing technology for electric automobiles, Kreisel Electric also offers complete storage solutions for many other application areas and industries, as a solution provider. Apart from its application in transportation, aviation & aerospace, maritime shipping and home storage devices, the Kreisel battery technology is also well suited for a wide range of stationary infrastructure applications such as commerce, traffic, logistics, energy supply and real estate development. With Kreisel Systems, Kreisel will develop an eco-system around the battery's use for stationary charging, energy and building systems. Because Kreisel Electric is focused on refining its battery technology, it will primarily grant licenses to partners to manufacture battery solutions and produce only small batches itself. "Through licensing, our unique business model is quickly scalable. Furthermore, we are a provider of system solutions and are not interested in high-volume production. We will meet the demand for high-volume series production together with our industrial partners, with whom we are already in a very advanced stage of negotiations. We are not and will not become an automobile manufacturer; instead, we will shape the future of e-mobility in cooperation with the automotive industry and their suppliers," said Christian Schlögl, CEO of Kreisel Electric.

Kreisel Electric is particularly interested in the complete electrification of the fleets and motor vehicles of towns and cities, such as garbage collection fleets for example, but also public mass transit and taxis. To this end, Kreisel Electric is already in close contact with many manufacturers and fleet operators to define remits and develop municipal electrification concepts. Kreisel Electric's technology will thus make a lasting contribution to improving the environmental quality and quality of life in towns and cities.

Contact
Dr. Marc Langendorf
Brunswick Group GmbH
Tel: +49-89-80-99-025-17
This email address is being protected from spambots. You need JavaScript enabled to view it.

André Felker
Kreisel Electric GmbH
Chief Marketing Officer
Tel: +43-7949-21400-1306
This email address is being protected from spambots. You need JavaScript enabled to view it.

You can also find current press releases at This email address is being protected from spambots. You need JavaScript enabled to view it. and at http://www.kreiselelectric.com/presse/

A picture accompanying this release is available in the AP PhotoExpress feed using ref# PRN1084326

SOURCE Kreisel Electric GmbH

  • Siemens Gamesa Renewable Energy has taken the decision to stop producing the 8-MW AD8 turbines designed by Adwen, which were supposed to be installed at the Yeu–Noirmoutier Islands and Dieppe–Le Tréport offshore wind farms. The company is now offering its 8-MW D8 turbine for the project.
  • The French Ministry of Ecological and Solidary Transition has approved the change in turbine.
  • Siemens Gamesa Renewable Energy will uphold Adwen's industrial commitments in France.

Adwen—now wholly owned by the new entity Siemens Gamesa Renewable Energy—notified Eoliennes en Mer, a company set up by ENGIE (47%), EDP Renewables (43%) and Caisse des Dépôts (10%), of its decision to stop producing the AD8-180 turbine. This model was initially meant to be used in the Yeu–Noirmoutier Islands and Dieppe–Le Tréport offshore wind-farm projects, which the consortium won in 2014. Siemens Gamesa Renewable Energy then decided to focus its production on the D8 model.

The companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands submitted this change to the Ministry of Ecological and Solidary Transition for approval. The Ministry approved Siemens' D8 technology for the project, after consulting with the French Energy Regulator (CRE).

Siemens Gamesa Renewable Energy will also uphold the industrial commitments of its subsidiary Adwen. On 21 March 2017, Adwen submitted permit applications for blade and nacelle production plants, which will be set up in Le Havre and will create 750 direct jobs. In addition, the decision of the consortium and its turbine supplier to use local manufacturers will help mobilise 750 additional jobs.

Since the approval of the project, the companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands have been working to develop two offshore wind farms. Each farm has a total output of 496 MW and the commissioning is expected in 2021. The companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands submitted its applications for authorisation to the government in May 2017, in accordance with the timetable outlined in the specifications of the call for bids. ENGIE, EDP Renewables and Caisse des Dépôts are committed to the success of this local project, and they all share the same goal: to support the emergence of offshore wind power production in France.


About ENGIE

ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, CAC 40 Governance, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).

About EDP Renewables

EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, France, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP has been a Dow Jones Sustainability Index for eight consecutive years.
EDPR is a major player of renewable energies in France with 388 MW installed capacity. EDPR is also a shareholder of the fix offshore projects of Noirmoutier/Yeu and Dieppe/Le Treport. EDPR is committed to support the Energy Transition effort by means of its expertise, financial and Human resources.
Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX). For further information, please visit www.edpr.com

About The Caisse des Dépôts Group

Caisse des Dépôts and its subsidiaries are a state-owned group, a long-term investor dedicated to serving the public interest and regional economic development. Its vocation was reaffirmed by the law on modernisation of the economy of 4 august 2008. Widely recognised for its expertise in managing its areas of competence, the group focuses its efforts on four major areas of transition strategically vital to France's long-term development: territorial, ecology and energy, digital, demographic and social. www.caissedesdepots.fr

In the immediate vicinity of many embassies, on a carport at the giant Brooklyn Mall in Pretoria, 9,600 solar modules gleam in the South African sun. juwi started work on the construction of the one-megawatt system at the end of January.

The Government of Zambia signed agreements  for a second mandate with Scaling Solar, the World Bank Group program that is helping developing countries procure low cost, privately financed, solar power.

100 Thousand Solar Lanterns Project has achieved over 80,000 donations in total

South Africa is increasingly focusing on renewable energies. By 2020, solar energy is forecast to expand to over 5.7 gigawatts.

The Government of Zambia signed agreements  for a second mandate with Scaling Solar, the World Bank Group program that is helping developing countries procure low cost, privately financed, solar power.

Azuri is delighted to announce a partnership with the Niger Delta Power Holding Company (NDPHC) to launch its PayGo Solar Home Systems in Nigeria, to deliver affordable, clean energy to 20,000 rural households living without electricity. 

Direct access to technical support and a new web presence to premiere at SPI 2017

Voltalia, an international player in renewable energies, announces the launch of the construction of a new 8.2 MW solar power plant in France, in the Bouches-du-Rhône department.

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces the start of construction works at the French solar power plants of Canadel (10.4 MW) and Castellet 2 (3.8 MW) located in the southern-France region of Var. 

Intersolar Europe, the world’s leading exhibition for the solar industry and its partners, is now open.

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company"), a global leader in the Photovoltaic (PV) industry, announced that as the only Chinese company, it was invited to dialogue at The Business 20 (B20) Summit held in Berlin on May 2-3, 2017.

Enables residential solar asset owners, loan providers, installers, developers, and distributors to truly understand how their PV systems are performing

Locus Energy announced new, advanced hardware flexibility, with an enhanced capability to collect data from on-site aggregators and third-party equipment directly.

IFC, a member of the World Bank Group, and fashion retailer, H&M Hennes & Mauritz (H&M), launched a joint partnership to boost the use of clean, renewable energy in the garment sector, while also slashing greenhouse gas emissions.

Larson Electronics LLC, a leading industrial lighting company, announced the release of a new solar panel kit to be added to its catalog of products.

Once 80 Year Rivals, Poyant Signs partners with Beaumont Solar to meet all industry deadlines

Green Power EMC, the renewable energy supplier for 38 Georgia Electric Membership Corporations (EMCs), and Silicon Ranch, one of the nation's largest independent solar power producers, officially dedicated a 52-Megawatt (MWAC) solar energy plant in Jeff Davis County, Georgia. 

Dubai Electricity and Water Authority (DEWA) has achieved another world record by awarding the 700MW AED14.2 billion fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. This is the largest single-site Concentrated Solar Power (CSP) project in the world, based on the Independent Power Producer (IPP) model. The contract is awarded to a consortium comprising Saudi Arabia’s ACWA Power and China’s Shanghai Electric.

 

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170916005007/en/

 

DEWA project will have the world’s tallest solar tower, measuring 260 metres (Photo: AETOS Wire)

DEWA project will have the world’s tallest solar tower, measuring 260 metres (Photo: AETOS Wire)

The consortium bid the lowest Levelised Cost of Electricity (LCOE) of USD 7.3 cents per kilowatt hour (kW/h). The project will have the world’s tallest solar tower, measuring 260 metres. The power purchase agreement and the financial close are due to be finished shortly. The project will be commissioned in stages, starting from Q4 of 2020.

 

“Awarding this strategic project supports the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to promote sustainability, and make Dubai a global centre for clean energy and a green economy. This vision is supported by the Dubai Clean Energy Strategy 2050 to increase the share of clean energy in Dubai’s total power output to 7% by 2020, 25% by 2030, and 75% by 2050.

 

“Our focus on renewable energy generation has led to a drop in prices worldwide and has lowered the price of solar power bids in Europe and the Middle East. This was evident today when we received the lowest CSP project cost in the world,” said HE Saeed Mohammed Al Tayer, MD&CEO of DEWA.

 

The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world, based on the IPP model. It will generate 1,000MW by 2020 and 5,000MW by 2030. The 13MW photovoltaic first phase became operational in 2013. The 200MW photovoltaic second phase of the solar park was launched in March 2017. The 800MW photovoltaic third phase will be operational by 2020, and the first stage of the 700MW CSP fourth phase will be commissioned in Q4 of 2020.

 

*Source: AETOS Wire

 

 

 

 
MULTIMEDIA AVAILABLE :
http://www.businesswire.com/news/home/20170916005007/en/

Waaree announces shipment of 15MW high efficiency mono solar modules for NSCBI Airport, Kolkata  

> <
  • AzureAzure Power|New York Stock Exchange
Azure Power (NYSE: AZRE), a leading solar power producer in India, announced that it has won a 50 MW solar project in an auction conducted by Solar Energy Corporation of India (SECI), a company of the Ministry of New and Renewable Energy, Government of India. This 50 MW allocation is the largest rooftop allocation done by SECI to a solar power developer, approximately 14% of the total allocated capacity of 360 MW announced. Azure Roof Power will provide power for 25 years to various Government of India buildings across states and union territories of Chandigarh, Chhattisgarh, Delhi, Haryana, Kerala, Odisha, Punjab, Rajasthan, Uttar Pradesh and West Bengal. The power will be sold at a tariff range of INR 3.19 - 3.97 (US$ 0.05- 0.06) /kWh based on location. In addition, Azure Power qualifies for a capital incentive from SECI, which is expected to result in a weighted average levelized tariff of INR 4.65 (~US $0.07) /kWh.
 
Azure Roof Power offers superior rooftop solar power solutions for commercial, industrial, government, and institutional customers in cities across India to lower their energy bill and meet their greenhouse gas (GHG) emission reduction targets. With over 150 MWs of high quality, operating and committed solar assets across 19 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Roof Power has a well-diversified customer base with majority portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, Delhi water utility company and various Government of India Ministries.
 
Commenting on the occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to announce our latest win with Solar Energy Corporation of India to electrify Government of India buildings across 10 states. With this win, we have once again demonstrated our strong project development capabilities and are delighted to make this contribution towards realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

About Azure Power
 
Azure Power (NYSE: AZRE) is a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
 
For more information, visit: www.azurepower.com.
 
Forward Looking Statements
 
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Tigo®, pioneer of the smart modular Flex MLPE platform, announced the launch of three new "Duo" covers to its TS4 add-on / retrofit solution: TS4-R-O-Duo (Optimization), TS4-R-S-Duo (Safety), and TS4-R-M-Duo (Monitoring). The TS4-R-X-Duo brings smart module functionality to standard PV modules, adds smart features to new PV installations, and upgrades underperforming PV assets. With UHD-Core technology and expanded specifications, the Duo supports two PV modules connected in series with a combined power of up to 700W and a combined voltage of up to 90V.

 

With a universal base and a range of covers containing flexible module-level power electronics (Flex MLPE), Tigo's Duo increases freedom of choice when selecting features for any project and budget. All three Duo covers work with any inverter and any module within its electrical specifications. This new addition is fully compatible with Tigo's current shipping products. Customers can design Smart PV Systems by mixing any of the TS4 products for the highest cost-efficiency. The Duo also supports Tigo's unique Selective Deployment capabilities. Both the TS4-R-O-Duo (Optimization) and TS4-R-S-Duo (Safety) are NEC 690.12 rapid shutdown compliant and pending approval by Underwriters Laboratories (UL).

 

"Around the world, we have received requests for an add-on product that is optimized, safe, and monitored for commercial-sized products," says Zvi Alon, CEO at Tigo. "Now, we are meeting those demands with the most flexible MLPE which is also widely recognized in the market for the highest ROI."

 

Tigo's Duo provides PV systems with faster installation, integrated monitoring, 99.6% efficiency, compatibility with 60-cell modules, and module-level voltage shutdown. The Duo covers are shipping now. For price and delivery call +1.408.402.0802 ext. 1, email This email address is being protected from spambots. You need JavaScript enabled to view it., or visit www.tigoenergy.com.

 

About Tigo

 

Tigo is a Silicon Valley company founded in 2007 by a team of experienced technologists. Combining a unique systems-level approach with expertise in semi-conductors, power electronics, and solar energy, the Tigo team developed the first-generation Smart Module Optimizer technology for the solar industry. Tigo's vision is to leverage integrated and retrofitted Flex MLPE and communications technology to drive the cost of solar electricity down. By partnering with tier 1 module and inverter manufacturers in the industry, Tigo is able to focus on its key innovation with the smartest TS4 modular platform and leverage the broader ecosystem. Tigo has operations in the USA, across Europe, Latin America, Japan, China, Australia and the Middle East. Learn more at www.tigoenergy.com.

 

 

 

 

Tigo, pioneer of the smart modular Flex MLPE platform, and SMA, global market leader for solar inverters, have joined forces to deliver total compliance with the newly released SunSpec Alliance specifications regarding Rapid Shutdown adoption for PV plants. SunSpec Alliance, certifier of PV components and communication standards, has defined the specifications of the powerline-based PV transmitter signal covering varying installation types and regions.

 

Tigo and SMA’s partnership brings the first transmitter and receiver offering representing interoperability between the inverter and the PV module's MLPE. SMA’s full line of US string inverters will be supporting the new SunSpec standard to fulfill the tightened module-level requirements in National Electric Code (NEC) 2017, becoming mandatory in January 2019. Tigo will expand its current offering to include a SunSpec Rapid Shutdown and add this capability to its TS4 Flex MLPE product line. The new addition is 100% compatible and certified by about 40 PV module suppliers currently using the TS4 platform – including Trina Solar, Itek, and Sunpreme. The new offering is also available for add-on or retrofit applications.

 

The new SunSpec specifications were developed by a workgroup of more than 75 solar professionals. Combining Tigo’s module-level shutdown capabilities and SMA’s renowned Arc Fault Circuit Interrupter (AFCI) function, the unique partnership will deliver maximum system safety and reliability by adhering to those specifications and being fully compliant with NEC 2017. Once adopted, this robust solution will accommodate all PV modules while minimizing multivendor compatibility issues.

 

“The solar industry is experiencing significant growth with new requirements, so we welcome the vendor coordination efforts and the wide adoption by many vendors working to improve the safety of clean energy production,” says Danny Eizips, VP of Engineering at Tigo. "This is a great opportunity for multivendor support."

 

“Together, SMA and Tigo are minimizing the adoption difficulties presented with any new specifications,” says Nick Morbach, Executive Vice President of Residential and Commercial Business Unit at SMA.

 

“As a Tigo partner and integrator of TS4, Trina welcomes the wide adoption of this safety feature,” says Jing Tian, President of North American Region at Trina. “We are now shipping our Rapid Shutdown compliant smart modules.”

 

Tigo is now shipping its integrated Rapid Shutdown offering worldwide as a module solution. For price and delivery call +1.408.402.0802 ext. 1, email This email address is being protected from spambots. You need JavaScript enabled to view it., or visit www.tigoenergy.com.

 

About Tigo

 

Tigo is a Silicon Valley company founded in 2007 by a team of experienced technologists. Combining a unique systems-level approach with expertise in semi-conductors, power electronics, and solar energy, the Tigo team developed the first-generation Smart Module Optimizer technology for the solar industry. Tigo's vision is to leverage integrated and retrofitted Flex MLPE and communications technology to drive the cost of solar electricity down. By partnering with tier 1 module and inverter manufacturers in the industry, Tigo is able to focus on its key innovation with the smartest TS4 modular platform and leverage the broader ecosystem. Tigo has operations in the USA, across Europe, Latin America, Japan, China, Australia and the Middle East. Visit www.tigoenergy.com.

 

 

 

 

Kaeser Compressors India Private Limited, a subsidiary of global leader, supplier of compressors and compressed air products KAESER KOMPRESSOREN SE, Germany announced commissioning of 120kWp captive Rooftop Solar PV power plant at their state of the art manufacturing facility at Pune in state of Maharashtra.

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has supplied 23MW of high-

For AlsoEnergy, the top selling independent monitoring provider for commercial PV in North America, this partnership is an opportunity to extend international coverage for sales and support.

High voltage switchgear to support Saudi Arabia’s first integrated solar and natural gas power plant

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of August, 2017 rose by 0.8 percent to 114.8 (provisional) from 113.9 (provisional) for the previous month.

The annual rate of inflation, based on monthly WPI, stood at 3.24% (provisional) for the month of August, 2017 (over August,2016) as compared to 1.88% (provisional) for the previous month and 1.09% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.41% compared to a build up rate of 3.25% in the corresponding period of the previous year

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.

The index for this major group rose by 1.9 percent to 134.9 (provisional) from 132.4 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-

The index for ‘Food Articles’ group rose by 2.2 percent to 150.8 (provisional) from 147.6 (provisional) for the previous month due to higher price of betel leaves (9%), fruits & vegetables (8%), ragi (6%), condiments & spices (3%), peas/chawali and fish-marine (2% each) and arhar, beef & buffalo meat, fish-inland, milk and wheat (1% each). However, the price of poultry chicken (10%), urad (5%), coffee and tea (3% each) and jowar, maize, masur, bajra, moong, paddy and egg (1% each) declined.

The index for ‘Non-Food Articles’ group rose by 1.8 percent to 120.6 (provisional) from 118.5 (provisional) for the previous month due to higher price of floriculture (25%), copra (coconut) (23%), guar seed (8%), safflower (kardi seed) (4%), castor seed (3%), gingelly seed, rape & mustard seed and raw wool (2% each) and soyabean and skins (raw) (1% each).  However, the price of raw silk (4%), linseed and groundnut seed (3% each), sunflower, raw jute and raw rubber (2% each) and hides (raw), niger seed, mesta, cotton seed and raw cotton (1% each) declined.

The index for ‘Minerals’ group declined by 1.2 percent to 118.2 (provisional) from 119.6 (provisional) for the previous month due to lower price of sillimanite (18%), chromite (16%), copper concentrate (6%), phosphorite (3%) and iron ore (2%).  However, the price of lead concentrate (22%), limestone (11%), zinc concentrate (10%) and bauxite (6%) moved up.

The index for ‘Crude Petroleum & Natural Gas’ group rose by 0.5 percent to 64.3 (provisional) from 64.0 (provisional) for the previous month due to higher price of crude petroleum (1%). However, the price of natural gas (1%) declined.

The index for this major group rose by 0.9 percent to 89.2 (provisional) from 88.4 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-


The index for ‘Mineral Oils’ group rose by 1.7 percent to 76.6 (provisional) from 75.3 (provisional) for the previous month due to higher price of naphtha (5%), petrol and kerosene (3% each), HSD and ATF (2% each) and furnace oil (1%). However, the price of LPG (5%) and bitumen and petroleum coke (1% each) declined.

The index for this major group rose by 0.2 percent to 112.9 (provisional) from 112.7 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-


The index for ‘Manufacture of Food Products’ group rose by 0.3 percent to 127.3 (provisional) from 126.9 (provisional) for the previous month due to higher price of copra oil (8%), rice bran oil (4%), instant coffee, cotton seed oil, condensed milk, castor oil and rice products (3% each), rice, non-basmati, soyabean oil and salt (2% each) and maida, other meats, (preserved/processed), palm oil, sugar, processed tea, gur, rapeseed oil, ghee and ice cream (1% each).  However, the price of processing & preserving of fish, crustaceans & molluscs & products thereof, manufacture of macaroni, noodles, couscous & similar farinaceous products and groundnut oil (4% each), honey, molasses and spices (including mixed spices) (3% each), powder milk, coffee powder with chicory, manufacture of cocoa, chocolate & sugar confectionery, basmati rice and manufacture of health supplements (2% each) and manufacture of bakery products, manufacture of prepared animal feeds, manufacture of processed ready to eat food, manufacture of starches & starch products, wheat flour (atta), wheat bran, processing & preserving of fruit and vegetables, butter and bagasse (1% each) declined.


The index for ‘Manufacture of Beverages’ group rose by 1.4 percent to 119.1 (provisional) from 117.4 (provisional) for the previous month due to higher price of bottled mineral water (5%), aerated drinks/soft drinks (incl. soft drink concentrates) (4%), rectified spirit (2%) and wine, beer and country liquor (1% each). However, the price of spirits (1%) declined.


The index for ‘Manufacture of Tobacco Products’ group rose by 2.9 percent to 147.7 (provisional) from 143.6 (provisional) for the previous month due to higher price of other tobacco products (7%) and biri (6%).  However, the price of cigarette (4%) declined.


The index for ‘Manufacture of Textiles’ group declined by 0.6 percent to 112.7 (provisional) from 113.4 (provisional) for the previous month due to lower price of cotton yarn (2%) and synthetic yarn and manufacture of other textiles (1% each). However, the price of texturised & twisted yarn (1%) moved up.


The index for ‘Manufacture of Wearing Apparel’ group rose by 0.4 percent to 136.5 (provisional) from 136 (provisional) for the previous month due to higher price of manufacture of knitted and crocheted apparel (4%).  However, the price of  manufacture of wearing apparel (woven), except fur apparel (1%) declined.


The index for ‘Manufacture of Leather and Related Products’ group rose by 1.2 percent to 120.9 (provisional) from 119.5 (provisional) for the previous month due to higher price of chrome tanned leather (3%), belt & other articles of leather and leather shoe (2% each) and waterproof footwear (1%). However, the price of gloves of leather (8%), travel goods, handbags, office bags, etc. (3%) and harness, saddles & other related items (1%) declined.


The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group rose by 0.3 percent to 132.1 (provisional) from 131.7 (provisional) for the previous month due to higher price of wooden panel (2%) and wooden board (non-electrical), plywood block boards, wooden block-compressed or not, timber/wooden plank, sawn/resawn and wooden splint (1% each).  However, the price of wood cutting, processed/sized and particle boards (1% each) declined.


The index for ‘Manufacture of Paper and Paper Products’ group rose by 0.9 percent to 118.5 (provisional) from 117.5 (provisional) for the previous month due to higher price of duplex paper (6%), paper carton/box and card board box (4% each), pulp board (2%) and base paper (1%).  However, the price of tissue paper (6%), bristle paper board (4%), paper bag including craft paper bag (3%), corrugated paper board and card board (2% each) and newsprint and laminated paper (1% each) declined.


The index for ‘Printing and Reproduction of Recorded Media ‘ group rose by 0.5 percent to 144.3 (provisional) from 143.6 (provisional) for the previous month due to higher price of printed form & schedule (6%), printed books and newspaper (2% each). However, the price of hologram (3d) (6%) and journal/periodical and sticker plastic (2% each) declined.


The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.1 percent to 111.2 (provisional) from 111.3 (provisional) for the previous month due to lower price of nitric acid (14%), phosphoric acid (9%), sulphuric acid and organic surface active agent (6% each), agro chemical formulation (4%), plasticizer, soda ash/washing soda and ammonium sulphate (3% each), aniline (including pna, ona, ocpna), fatty acid, aromatic chemicals, alkyl benzene, insecticide & pesticide, xlpe compound, poly vinyl chloride (pvc) and hair oil/body oil (2% each) and tooth paste/tooth powder, mixed fertilizer, menthol, ammonium nitrate, acrylic fibre, adhesive excluding gum, printing ink, sodium silicate, polyethylene, polyester fibre fabric, perfume/scent, explosive, adhesive tape (non-medicinal) and nitrogenous fertilizer, others (1% each).   However, the price of mono ethyl glycol (11%), poly propylene (pp) (9%), acetic acid and its derivatives (7%), amine (4%), carbon black (3%), ammonia liquid, catalysts, safety matches (match box) and polyester chips or polyethylene terepthalate (pet) chips (2% each) and liquid air & other gaseous products, face/body powder, other inorganic chemicals, hydrogen peroxide, toilet soap, caustic soda (sodium hydroxide), varnish (all types), gelatine, ethyl acetate, foundry chemical and organic chemicals (1% each) moved up.


The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.8 percent to 120.9 (provisional) from 120 (provisional) for the previous month due to higher price of antiseptics & disinfectants (5%), antioxidants (4%), antibiotics & preparations thereof (3%), plastic capsules, medical accessories, antipyretic, analgesic, anti-inflammatory formulations, anti-retroviral drugs for HIV treatment and anti cancer drugs (2% each) and cotton wool (medicinal), antidiabetic drug excluding insulin (i.e. tolbutam) and api & formulations of vitamins (1% each).  However, the price of steroids & hormonal preparations (including anti-fungal preparations) (10%), simvastatin and vaccine for hepatitis b (4% each), anti-malarial drugs (3%), sulpha drugs (2%) and anti inflammatory preparation, digestive enzymes and antacids, ayurvedic medicaments and anti allergic drugs (1% each) declined.


The index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.6 percent to 107.2 (provisional) from 107.9 (provisional) for the previous month due to lower price of motor car tyre and plastic tape (7% each), plastic button (6%), tractor tyre (5%), 2/3 wheeler tyre (4%), rubber tread and thermocol (3% each), medium & heavy commercial vehicle tyre and pvc fittings & other accessories (2% each) and motor car tube, solid rubber tyres/wheels, rubber cloth/sheet, v belt, processed rubber and acrylic/plastic sheet (1% each).   However, the price of tooth brush (7%), condoms (6%), rubberized dipped fabric (4%), rubber moulded goods (3%), cycle/cycle rickshaw tyre, plastic bottle, polythene film and polypropylene film (2% each) and rubber crumb, medium & heavy commercial vehicle tube, plastic bag, conveyer belt (fibre based), plastic components, polyester film (non-metalized), 2/3 wheeler rubber tube and plastic furniture (1% each) moved up.


The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group declined by 0.8 percent to 111.9 (provisional) from 112.8 (provisional) for the previous month due to lower price of porcelain sanitary ware (10%), ceramic tiles (vitrified tiles) (7%), clinker (5%), marble slab (2%) and ordinary portland cement, pozzolana cement, granite, toughened glass, plain bricks and stone, chip (1% each).  However, the price of graphite rod (13%), slag cement (6%), ordinary sheet glass (4%), non ceramic tiles (3%) and poles & posts of concrete, porcelain crockery, white cement, asbestos corrugated sheet and glass bottle (2% each) and cement blocks (concrete) (1%) moved up.


The index for ‘Manufacture of Basic Metals’ group rose by 0.8 percent to 97.8 (provisional) from 97.0 (provisional) for the previous month due to higher price of pig iron (6%), stainless steel pencil ingots/billets/slabs (4%), mild steel (ms) blooms, steel cables, lead ingots, bars, blocks, plates, ms pencil ingots and stainless steel tubes (3% each), brass metal/sheet/coils, ms bright bars and aluminium ingot (2% each) and ferromanganese, copper shapes - bars/rods/plates/strips, aluminium powder, galvanized iron pipes, hot rolled (hr) coils & sheets, including narrow strip, cold rolled (cr) coils & sheets, including narrow strip, aluminium shapes - bars/rods/flats and copper metal/copper rings (1% each).  However, the price of stainless steel coils, strips & sheets (9%), other ferro alloys (5%), angles, channels, sections, steel (coated/not) (3%), alloy steel castings, ms castings and aluminium disk and circles (2% each) and gp/gc sheet, aluminium metal, aluminium alloys, ferrochrome, silicomanganese, stainless steel bars & rods, including flats and cast iron, castings (1% each) declined.


The index for ‘Manufacture of Fabricated Metal Products, Except Machinery & Equipment’ group declined by 0.3 percent to 107.5 (provisional) from 107.8 (provisional) for the previous month due to lower price of stainless steel utensils (4%), steel structures (2%) and electrical stamping- laminated or otherwise, iron/steel cap, hose pipes in set or otherwise, forged steel rings and metal cutting tools & accessories (1% each).  However, the price of iron/steel hinges (4%), steel door (3%), bolts, screws, nuts & nails of iron & steel, boilers and pressure cooker (2% each) and aluminium utensils, copper bolts, screws, nuts, steel pipes, tubes & poles, jigs & fixture and lock/padlock (1% each) moved up.


The index for ‘Manufacture of Computer, Electronic & Optical Products’ group declined by 0.4 percent to 108.9 (provisional) from 109.3 (provisional) for the previous month due to lower price of capacitors (2%) and electro-diagnostic apparatus, used in medical, surgical, dental or veterinary sciences, air conditioner, computer peripherals and electronic printed circuit board (pcb)/micro circuit (1% each).  However, the price of sunglasses (8%), clock (5%), scientific time keeping device (3%) and telephone sets including mobile hand sets (1%) moved up.


The index for ‘Manufacture of Electrical Equipment’ group rose by 0.8 percent to 109.3 (provisional) from 108.4 (provisional) for the previous month due to higher price of electric switch and electrical resistors (except heating resistors) (9% each), fibre optic cables (7%), domestic gas stove and electric accumulators (6% each), insulating & flexible wire, solenoid valve, geyser and incandescent lamps (3% each), electric heaters, light fitting accessories, electric filament type lamps and generators & alternators (2% each) and aluminium wire, fan, connector/plug/socket/holder-electric, lead acid batteries for vehicles & other uses, washing machines/laundry machines, electric welding machine, meter panel and  flourescent tube (1% each).  However, the price of dry cells such as torch light batteries (9%), amplifier (8%), microwave oven (5%), batteries (4%), electric switch gear control/starter (2%) and rotor/magneto rotor assembly, pvc insulated cable, insulator, electrical relay/conductor, electric wires & cables and refrigerators (1% each) declined.


The index for ‘Manufacture of Machinery and Equipment’ group rose by 0.3 percent to 108.4 (provisional) from 108.1 (provisional) for the previous month due to higher price of pressure vessel and tank for fermentation & other food processing (9%), solar power system (solar panel & attachable equipment), packing machine and roller and ball bearings (4% each), manufacture of bearings, gears, gearing and driving elements (3%), conveyors - non-roller type, roller mill (raymond), air filters and rice mill machinery (2% each) and machinery used in the milling industry, oil pump, drilling machine, machinery for plastic products-extruded, pump sets without motor, gasket kit, agriculture implements and open end spinning machinery (1% each). However, the price of precision machinery equipment/form tools (6%), printing machinery (5%), chillers and separator (4% each), excavator, injection pump and chemical equipment & system (3% each), harvesters and pharmaceutical machinery (2% each) and grinding or polishing machine, lathes and agricultural tractors (1% each) declined.


The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group rose by 0.7 percent to 111.9 (provisional) from 111.1 (provisional) for the previous month due to higher price of piston ring/piston and compressor (4%), cylinder liners and minibus/bus (3% each), wheels/wheels & parts (2%) and shafts of all kinds, body (for commercial motor vehicles), radiators & coolers and engine (1% each).  However, the price of chassis of different vehicle types (2%) and steering gear control system, release valve and silencer and damper (1% each) declined.


The index for ‘Manufacture of other Transport Equipment’ group declined by 1.4 percent to 109.5 (provisional) from 111 (provisional) for the previous month due to lower price of motor cycles and scooters (2% each) and wagons (1%). However, the price of auto rickshaw/tempo/matador/three wheelers and bicycles of all types (1% each) moved up.


The index for ‘Manufacture of Furniture’ group rose by 1.4 percent to 119.5 (provisional) from 117.8 (provisional) for the previous month due to higher price of steel shutter gate (3%), foam and rubber mattress, iron/steel furniture and wooden furniture (2% each). However, the price of plastic fixtures (3%) declined.

The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 2.12% in July, 2017 to 4.41% in August, 2017.

For the month of June, 2017, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) and annual rate of inflation remained unchanged at its provisional level of 112.7 and 0.90 percent respectively as reported on 14.07.2017.

Emphasising the need to create an enabling environment through small steps such as planting more trees, Union Minister of Environment, Forest and Climate Change, Dr. Harsh Vardhan has said that new and innovative ways must be thought of, to bring more areas under forest and tree cover. Inaugurating a two-day conference on “Sustainable landscapes and forest ecosystems: Theory to Practice” here today, the Environment Minister urged the gathering to deliberate and come out with out-of-the-box ideas and solutions on increasing the forest cover much beyond the stipulated 33 per cent. “Innovation is the need of the hour. Innovation co-efficient now is more important than any other co-efficient”, Dr. Harsh Vardhan said.

Reiterating the Government’s commitment to increase the country’s forest cover from 24% to 33% of the geographical area and creating an additional carbon sink of 2.5 to 3 billion tons of CO2 equivalent in forests, as reflected in Nationally Determined Contribution, Dr. Harsh Vardhan said that the target is proposed to be achieved through a number of planned afforestation drives and initiatives. The Minister advocated the balancing of environmental and developmental concerns and also urged the gathering of scientists and foresters to devise a solution to the problem of weeds.

Referring to the forests being an integral part of Indian culture and tradition, the Environment Minister said that India has managed to successfully conserve and enhance its forest resources. He reminded the gathering that our ancestors had given us clean air and clean water and we must make efforts to preserve them for the future generations.

Dr. Harsh Vardhan launched the “Wood is Good” campaign on the occasion. Wood is a climate-friendly material, as it is a renewable resource, having zero carbon footprint.

The Partnership for Land Use Science (Forest-Plus) is a joint programme by the United States Agency for International Development (USAID) and Ministry of Environment, Forest and Climate Change (MoEF&CC) to strengthen capacity for REDD (Reducing Emissions from Deforestation and Forest Degradation) implementation in India. The programme brings together experts from India and the United States to develop technologies, tools and methods of forest management to meet the technical challenges of managing forests for the health of ecosystem, carbon stocks, biodiversity and livelihood. Some of the objectives of the conference include – exploring issues and opportunities for ecosystem approach to land management in India; discussing how the approaches and tools developed under the Forest-PLUS programme can be used to improve forest management in India and to document and disseminate that learning with a wider group.

Director General, Forest and Special Secretary, MoEFCC, Mr. Siddhanta Das, Mission Director, USAID India, Mr. White, USAID Director for Energy & Environment, officers of the MOEF&CC, Inspector General, MoEF&CC, Ms. Rekha Pai, State Forest Departments and representatives of national institutes and Non-Governmental Organisations were among the distinguished ones present in the gathering.

*****

HK

Smt. Nirmala Sitharaman, Hon’ble Raksha Mantri flagged-off Indian Naval Sailing Vessel Tarini (INSV Tarini) with an all women crew from INS Mandovi boat pool, Goa at 01:00 PM today (10 Sep17). This is the first-ever Indian circumnavigation of the globe by an all-women crew and shall attempt to circumnavigate the globe on Indian Navy’s sailing vessel INSV Tarini. The crew is expected to return to Goa in April 2018, on completion of the voyage. The expedition will be covered in five legs, with stop-overs at 4 ports viz. Fremantle (Australia), Lyttleton (New Zealand), Port Stanley (Falklands), and Cape Town (South Africa).

The event was attended by Shri Manohar Parrikar, Hon’ble Chief Minister of Goa, Admiral Sunil Lanba, the Chief of the Naval Staff, Vice Admiral AR Karve Flag Officer Commanding-in-Chief, Southern Naval Command, Vice Admiral R Hari Kumar, Controller Personnel Services, IHQ MoD (Navy) besides other senior naval retired and serving officials as well as civilian dignitaries including family members of the crew and sailing enthusiasts.

During the ceremony at Goa, the Hon’ble Raksha Mantri said that, “this is a historic day for the country, which will be marked in the Navigation history of the world, and globally our women are going to stand out for something which most navies of the world would not have even thought of”. She further said that, “For this initiative I appreciate the Indian Navy and the mentors for inspiring, motivating and training these brave and courageous women”. She expressed her absolute pleasure for being present at the momentous occasion and felt honoured to be amongst the crew and wished them a successful voyage.

The Chief of the Naval Staff, Admiral Sunil Lanba expressed satisfaction at continuation of the legacy of Indian Navy’s Ocean sailing expeditions which commenced in 1988 with expedition ‘Samudra’. This was followed by first solo circumnavigation by Captain Dilip Donde (Retd) and non-stop circumnavigation of the globe by Cdr Abhilash Tomy resulting in India joining a select group of nine nations which have achieved such feats. He said that the present circumnavigation by an all women crew is an extension of the above efforts and reflection of the Government’s efforts at Women Empowerment – “Nari Shakti”.

INSV Tarini is a 55-foot sailing vessel, which has been built indigenously, and was inducted in the Indian Navy earlier this year, thus showcasing the ‘Make in India’ initiative on the World forum. INSV Tarini is being skippered by Lt. Commander Vartika Joshi, and the crew comprises Lt. Commanders Pratibha Jamwal, P Swathi, and Lieutenants S Vijaya Devi, B Aishwarya and Payal Gupta.

During the voyage, the crew would monitor and report marine pollution on the high seas, as also interact extensively with local PIOs during various port halts to promote Ocean sailing.

During their voyage, the crew would also collate and update Meteorological/ Ocean/ Wave data on a regular basis for accurate weather forecast by India Meteorological Department (IMD) and subsequent analysis by research and development organisations.

The expedition titled ‘Navika Sagar Parikrama’, is in consonance with the National policy to empower women to attain their full potential. It also aims to help discard the societal attitudes and mindset towards women in India by raising visibility of their participation in challenging environment.

Sailing encourages the use of environment friendly non-conventional renewable energy resources and this expedition therefore aims at harnessing the renewable energy.

________________________________________________________________________________________

DKS/ SW/RS/SDR                                                                                                               60/17

Union Home Minister Shri Rajnath Singh arrived in Srinagar today on a four-day visit to Jammu and Kashmir. He was received at the airport by the state’s Deputy Chief Minister Dr. Nirmal Kumar Singh, senior minister Shri Abdul Rehman Veeri and Senior Officials of the State Government.

“I am going there with an open mind and I am willing to meet anyone who will help us in finding solutions to problems facing J&K,” said Shri Rajnath Singh in a tweet before leaving for Srinagar.

Soon after his arrival the Union Home Minister had an hour long one-to-one meeting the Chief Minister Ms. Mehbooba Mufti. Shri Rajnath Singh later reviewed the status of implementation of the Prime Minister's Development Package (PMDP) for Jammu and Kashmir with the Chief Minister, Deputy Chief Minister Dr. Nirmal Kumar Singh, Union Home Secretary Shri Rajiv Gauba, Chief Secretary of J&K, Shri BB Vyas and Senior Officers of the MHA and State Government.

The Union Home Minister asked the authorities to expedite the implementation of the PMDP in a time bound manner. Shri Rajnath Singh said it will create jobs for the people of J&K.

The PMDP, a Rs.80,068 crore package announced by the Prime Minister Shri Narendra Modi on November 7, 2015, covers 63 projects pertaining to 15 Ministries of the Government of India. The Union Government has already sanctioned Rs.63,000 crores for the various projects, which amounts to 78 percent of the total cost of the PMDP package. An amount of nearly Rs.22,000 crore has been released.

Nearly two years after the PMDP-2015 was announced, five of the 63 projects have been completed. These include the prestigious Chenani-Nashri tunnel costing Rs.781 crore, announcement of remuneration to Special Police Officers (SPOs) from Rs.3,000 per month to upto Rs.6,000 per month as well as assistance provided for Pucca and Kuchcha houses damaged during the 2014 flood.

The land acquisition in respect of semi-Ring Roads in Jammu and Srinagar will be completed within two months. The four-laning of Jammu-Udhampur section of National Highway, NH-1A, is nearing completion. Nineteen road connectivity projects costing about Rs.43, 000 crore are under implementation in the State, which are progressing satisfactorily.

An investment of about Rs.5,810 crore under Power Sector is being made to improve the transmission and distribution network in the state. Besides, the Central Government is supporting the State with an investment of Rs.3,790 crore on Pakaldul hydroelectric project.

For the construction of AIIMS at Awantipora and Jammu, Rs.2,000 crore each are being made available and an amount of nearly Rs.91 crore has been released. Besides, IIT, Jammu and IIM, Jammu have already started functioning from temporary campus and the setting up of permanent campus is under progress. Similarly under the Health Sector, Rs.900 crore is available for completion of ongoing health infrastructure. Rs.200 crore has been utilized. The work on the comprehensive management of Jhelum was reviewed and found satisfactory. The DPR for Phase-II is being prepared. The rehabilitation plan for migrants of Jammu, PoK and Kashmiri Pandits was also reviewed. It was noted with satisfaction that the projects are progressing satisfactorily. During the meeting, other developmental projects under Urban Development, Solar Energy, Horticulture, Tourism etc were also reviewed. The Chief Minister assured the State Government’s full support in the implementation of the PMDP and on all other fronts.

Later, as many as 24 delegations of various organizations, including social, trade, travel and business from across Kashmir Valley called on Shri Rajnath Singh. They included Travel Agents Association of Kashmir (TAAK) Kashmir Hotels and Restaurants Associations, Kashmir Shikara Association, House Boat Owners Association, and various other Tourism sector organizations, Youth delegation, Kashmir Pandit Sangharsh Samiti (KPSS), Sikh delegation, Fruit Growers & Dealers Association, JK Shia Association, All Gujjjar & Bakerwal Conference, Pahari association and Self employed Women Association.

The delegations apprised the Union Home Minister about the varied problems relating to their respective organizations and submitted memorandum and requested for their resolution of issues on priority.

*****

KSD/BV/NK/PK

Print ReleasePrint

XClose

Press Information Bureau
Government of India
Prime Minister's Office
06-September-2017 22:25 IST

India-Myanmar Joint Statement issued on the occasion of the State Visit of Prime Minister of India to Myanmar (September 5-7, 2017)

  • At the invitation of H.E. U Htin Kyaw, President of the Republic of the Union of Myanmar, Shri Narendra Modi, Prime Minister of the Republic of India, is paying his first bilateral State visit to the Republic of the Union of Myanmar from 5th to 7th September 2017. The visit is part of the continuing high level interaction between the leaders of the two countries and follows successive State visits to India last year by H.E. President U Htin Kyaw and H.E. State Counsellor Daw Aung San Suu Kyi.
  • Prime Minister Modi was accorded a ceremonial welcome at the Presidential Palace in Nay Pyi Taw on 5th September 2017. He paid a courtesy call on the President of Myanmar, who hosted a State Banquet in his honour. On 6th September 2017, the Indian delegation led by Prime Minister Modi held bilateral talks with the Myanmar delegation led by State Counsellor Daw Aung San Suu Kyi. The talks were held in a warm, cordial and constructive atmosphere as befits the close and friendly relations between the two countries. Thereafter, the State Counsellor and the Indian Prime Minister witnessed the signing and exchange of various documents between Myanmar and India in the areas of health, culture, capacity building, maritime security and collaboration between key institutions and held a Joint Press Conference.
  • Apart from his official engagements in Nay Pyi Taw, Prime Minister Modi will visit places of historical and cultural importance at Bagan and Yangon. In Bagan, he will visit the holy and historic Ananda Temple, where restoration work is being carried out by Indian and Myanmar archaeologists under the expert guidance of the Archaeological Survey of India. In Yangon, he will pay his respects to the memory of General Aung San at the Martyrs’ Mausoleum and also visit the Bogyoke Aung San Museum as well as other prominent sites. He will interact with the Indian origin and expatriate Indian community of Myanmar during his stay in Yangon.
  • During the talks, the two leaders reviewed developments since the very successful State visits of the President and the State Counsellor of Myanmar to India in August and October 2016 respectively. They reviewed ongoing official exchanges, economic, trade and cultural ties, as well as people-to-people exchanges that reflect the harmony between Myanmar’s independent, active and non-aligned foreign policy and India’s pragmatic Act East and Neighbourhood First policies. They pledged to pursue new opportunities to further deepen and broaden bilateral relations for the mutual benefit of the people of both countries. They reaffirmed their common aspirations for peace, collective prosperity and development of the region and beyond.
  • The Prime Minister of India appreciated the measures taken by the Government of Myanmar towards peace and national reconciliation and commended the on-going peace process of the Government of Myanmar. He noted that peace and stability in Myanmar are of the highest priority to India and reiterated India’s continued support to the Government of Myanmar in consolidating democratic institutions in Myanmar and for the emergence of a democratic Federal Republic.
  • The two leaders discussed the security situation prevailing along their borders and expressed concern at various incidents of terrorism and extremist-inspired violence that have taken place in their respective territories. Recognizing that terrorism remains one of the most significant threats to peace and stability in the region, both sides condemned terrorism in all its forms and manifestations and agreed that the fight against terrorism should target not only terrorists, terror organisations and networks, but also identify, hold accountable and take strong measures against States and entities that encourage, support or finance terrorism, provide sanctuary to terrorists and terror groups, and falsely extol their virtues. Myanmar condemned the recent barbaric terror attacks during the Amarnath Yatra in India as also various acts of terror perpetrated by terrorists from across the borders. India condemned the recent terrorist attacks in northern Rakhine State, wherein several members of the Myanmar security forces lost their lives. Both sides agreed that terrorism violates human rights and there should, therefore, be no glorification of terrorists as martyrs. They called on the international community to end selective and partial approaches to combating terrorism and, in this regard, jointly called for the expeditious finalization and adoption of a Comprehensive Convention on International Terrorism by the United Nations General Assembly.
  • Recognising that maintenance of security and stability along the common border is essential for the socio-economic development of the peoples of the border areas, Myanmar reaffirmed its respect of the sovereignty and territorial integrity of India and steadfastly upheld the policy of not allowing any insurgent group to utilise Myanmar’s soil to undertake hostile acts against the Indian Government. Myanmar also appreciated Government of India for upholding the same principle.
  • Both sides reiterated their mutual respect for the already demarcated boundary between the two countries and emphasised the need to resolve outstanding boundary demarcation issues as fast as possible through existing bilateral mechanisms and consultations.
  • Both sides reviewed the security situation in their immediate neighborhood and agreed upon the special need for enhancing closer bilateral cooperation in maritime security. They also agreed to foster mutually beneficial and deeper defence cooperation between the two countries and, in this context, noted with satisfaction the recent successful visit of the Commander-in-Chief of the Defence Forces of Myanmar to India. Besides institutionalized cooperation through regular coordinated patrolling initiatives, they agreed to focus on bilateral maritime cooperation in non-traditional security domains, such as humanitarian assistance and disaster relief, which are critical for safeguarding the Bay of Bengal and the Indian Ocean as global commons.
  • Both sides pledged that Myanmar and India will maintain the already-achieved mutual understanding and growing bilateral relations between the two countries and that they will stand by each other as good and trustworthy neighbours in the years ahead in the interest of both peoples and the region.
  • The two sides noted with satisfaction the continued exchange of high-level visits that has fostered better mutual understanding of outstanding bilateral issues. They appreciated the regular holding of sector specific institutional mechanisms in the areas of security and defence, trade and commerce, power and energy, border management and connectivity etc. for effective follow-up of decisions taken at the highest political levels. They also noted with pleasure the excellent exchanges between Indian and Myanmar Parliamentarians and encouraged them to further enhance such interaction.
  • The Myanmar side expressed its heartfelt appreciation to Government of India for all the assistance rendered to Myanmar in support of its endeavour for socio-economic development. Both sides reviewed on-going cooperation projects being executed with technical and financial assistance from the Government of India, noting that these were directly associated with the benefit of the Myanmar people, and agreed that these should be expedited. Prime Minister Modi reiterated India’s abiding commitment to supporting Myanmar in its efforts to build infrastructure and develop human resources capacity. Alluding to the positive experience of the Industrial Training Centres set up with Indian assistance in Pakokku and Myingyan, the Myanmar side thanked India for the support being extended to develop two more Centres at Monywa and Thaton respectively as well as the assistance for a five year comprehensive maintenance plan for ITC, Myingyan. They also expressed appreciation for the support offered by India to upgrade the Myanmar-India Entrepreneurship Development Centre and the Centre for English Language Training at Yangon. The two sides also agreed to continue discussion towards the establishment of a Planetarium at a suitable location in Myanmar, recognizing that this would be a valuable institution that would nurture a scientific temper amongst the Myanmar youth.
  • The two sides shared the view that the situation in Rakhine State had a developmental as well as a security dimension. In this context, they agreed to bring about overall socio-economic development in the State by undertaking both infrastructure and socio-economic projects, particularly in the spheres of education, health, agriculture and allied activities, agro-processing, community development, construction of small bridges, upgradation of roads, small power projects, livelihood activity, setting up of training centres, promotion of household crafts, conservation of environment and cultural heritage. Myanmar welcomed India's offer of assistance under the Rakhine State Development Programme and the two sides agreed to finalize the implementation modalities within the next few months
  • The two sides noted with satisfaction the cooperation in the field of agricultural research and education, especially through the rapid progress in operationalizing the Advanced Centre for Agricultural Research and Education set up at the Yezin Agricultural University and the Rice Bio Park set up at the Department of Agricultural Research. It also appreciated India’s assistance for facilitating post graduation and doctoral education in agricultural sciences for candidates from Myanmar.
  • The two sides expressed satisfaction at the ongoing capacity building programmes for Myanmar judicial officers, military personnel and police. Myanmar thanked India for the extended period of support to the Myanmar Institute of Information Technology and the India-Myanmar Centre for Enhancement of IT Skills. They agreed that India would extend regular training to Myanmar diplomats at the Foreign Service Institute, New Delhi. Myanmar welcomed India’s offer to enrol two Myanmar diplomats every year for training at the Kendriya Hindi Sansthan while 150 Myanmar civil servants would undergo training in English language at Indian training institutes every year for a period of five years.
  • Recognizing the need to further upgrade the training infrastructure and capacity building of Myanmar Police, the two leaders welcomed the signing of the Memorandum on Upgradation of the Women’s Police Training Center at Yamethin in Myanmar with technical and financial assistance of Government of India. Myanmar welcomed India’s offer to help set up a training centre for police officers in Yangon and it was decided that modalities would be jointly worked out.
  • Myanmar thanked India for supporting various projects in Myanmar that enhance bilateral as well as regional connectivity like the Kaladan Multi Modal Transit Transport Project and other road and bridge construction projects as fully funded grant-in-aid projects. Myanmar appreciated the substantial progress made on the Kaladan Multimodal Transit Transport Project with the completion of works on the Sittwe Port and the Paletwa Inland Water Transport Terminal and the handing over of six cargo barges to the Myanmar Port Authority and Inland Water Transport. The two sides agreed to enter into an MoU on appointing a port operator that may include both sides to be responsible for the operation and maintenance of the port in keeping with the practice that has been adopted at other international ports in Myanmar. This would enable the Port and IWT infrastructure to be used commercially and promote development of the surrounding areas even as the final component of the project, the road from Paletwa to Zorinpui, is under construction. Both sides noted with satisfaction that work on the road was already underway and agreed to facilitate movement of project personnel, construction material and equipment across the border through Zorinpui and Paletwa. They also noted that construction work would shortly begin on reconstruction of bridges on the Tamu-Kyigone-Kalewa Road and on the Kalewa-Yargyi sector of the Trilateral Highway. The two sides have agreed upon the alignment of the Rih-Tedim road and the DPR for its construction. Further steps on construction of the Putao-Myitkyina and Alethankyaw-Ahungmaw roads under available LOC would be taken after DPRs are made available by Myanmar. In response to Myanmar’s request, India agreed to undertake preparation of DPRs for the Rihkhawdar-Zowkhathar bridge and the Bwaynu bridge.
  • The two sides also reviewed projects in the field of health and noted with satisfaction that work on the upgradation of Yangon Childrens' Hospital and Sittwe General Hospital and on construction of Monywa General Hospital had been completed. They agreed to start consultations to establish and operate a state-of-the-art hospital in Nay Pyi Taw in association with one of the leading Indian hospital groups, based on modalities to be mutually decided.
  • Both sides deliberated on the progress made in utilization of US$ 500 million concessional Line of Credit extended by India to Myanmar in 2012. Noting that the projects to be implemented under the Line of Credit would help augment the physical infrastructure in vital areas and enhance capacities in agriculture and transport, they resolved to implement mutually agreed projects expeditiously.
  • Both sides expressed that, in order to derive full value from these infrastructure projects, the institutional arrangements related to connectivity needed to be put in place on priority. In this regard, they noted the importance of concluding a bilateral agreement that would enable motor vehicle traffic, both passenger and cargo, to cross the border.
  • Both sides underlined the need for bringing about greater integration of power and energy supply networks between India and Myanmar. Myanmar welcomed India's participation in its energy sector both in exploration and production and invited Indian companies to participate in tenders for petrochemicals and petroleum products, marketing infrastructure and setting up of LPG terminals. India informed that leading Indian oil and gas companies are in the process of opening their offices in Myanmar. The two sides applauded the agreement reached by Numaligarh Refinery of India and Parami Energy Group of Myanmar on supply of diesel to Myanmar across the land border, noting that this will give the people of north Myanmar cheaper and more reliable access to petroleum products, and also encouraged both sides to collaborate in storage and retail marketing of petroleum products in Myanmar. The first consignment of the high speed diesel reached Myanmar on 4th September 2017.
  • India also expressed its readiness to extend technical as well as project-specific assistance to conventional as well as renewable energy-based power development projects identified by Government of Myanmar. In addition to the earlier offer to conduct a feasibility study for development of solar parks in Myanmar, India offered to conduct a solar radiation resource assessment in Myanmar. The two sides discussed ways to cooperate in the field of energy efficiency between the two countries. Myanmar thanked India for the technology demonstration projects being undertaken through Energy Efficiency Services Ltd. of India to introduce LED-based energy efficient lighting in key townships and buildings identified by Myanmar in Nay Pyi Taw, Bago region and Rakhine State. India shared its experiences in power trade and expressed its interest in examining possible cooperation in this area with Myanmar. It was agreed that these and other relevant issues would be taken up at an early meeting of the Joint Steering Committee on Power and other forums. In view of the immense benefits that would accrue to participating countries, Myanmar promised to give careful consideration to India’s suggestion to join the Framework Agreement for the establishment of the International Solar Alliance.
  • The two sides noted the current level of bilateral trade and investment and agreed that, while robust, it has potential for growth. In this regard, they emphasized the need to improve market access by removing all trade barriers with a view to facilitate trade between the two countries. They expressed satisfaction with the conclusions reached at the 6th meeting of Myanmar-India Joint Trade Committee held in New Delhi, India in June, 2017 and agreed to continue holding of meetings on Border Trade Committee and Border Haats Committee.
  • India welcomed Myanmar’s desire to seek cooperation with it to develop Myanmar’s textile sector covering standardization, inspection and quality recommendations, research & development, human resource development and capacity building .
  • The two sides acknowledged the importance of pulses in the bilateral trade basket, and the implications this trade has for the Myanmar farmers and Indian consumers. In this context, the State Counsellor expressed grave concern at the recent notification issued by India imposing quantitative restrictions on various categories of pulses and requested Prime Minister of India to lift all restrictions on imports from Myanmar in view of the bonds of friendship and long term interests of the two peoples and nations. The Indian Prime Minister responded that it was important to work out long term arrangements whereby the interests of both the peoples could be safeguarded in future.
  • The two sides welcomed the successful negotiations and finalization of the agreement on border crossing which will help in regulating and harmonizing movement of people across the common land border and thus promote bilateral trade and tourism and directed their senior officials to expeditiously conclude the formalities for its signature. Leaders of both countries agreed to negotiate and swiftly conclude an agreement on commencing a coordinated bus service between the two countries from Imphal in India to Mandalay in Myanmar.
  • They shared the view that enhanced air connectivity between the two countries will boost people-to-people contacts as well as promote greater tourism, trade and investment flows. The leaders also agreed that a DPR would be prepared by Airports Authority of India through the close cooperation with Department of Civil Aviation(DCA) of Myanmar for development of Pakokku Airport or Kalay Airport with financial and technical assistance from India. They also welcomed Government of India’s offer of customized training and capacity building programmes for Air Traffic Controllers of Myanmar in India. The leaders directed their respective officials to also explore the feasibility of construction of a rail link between Tamu and Mandalay in Myanmar. It was agreed that a team from India would be deputed to study and prepare a DPR for the rail link between Tamu and Mandalay.
  • Both sides recognized the importance of establishing mutually agreed procedures for the rescue and rehabilitation of victims of human trafficking. In this context, they welcomed the finalization of the MoU on Cooperation for Prevention of Human Trafficking and conveyed their intent to conclude it at the earliest.
  • The two leaders emphasized the centrality of culture in further deepening the close bonds between the peoples of India and Myanmar and expressed satisfaction with the signature of the Cultural Exchange Programme (CEP) for the period 2017-20. They expressed confidence that the CEP would also promote cultural exchanges between the North Eastern States of India and the bordering areas of Myanmar. India also confirmed that 2 slots would be made available annually for Myanmar archaeologists for advanced studies at the Indian Institute of Archaeology, New Delhi.
  • The Indian side conveyed that the project being undertaken by the Archaeological Survey of India to preserve and conserve stone inscriptions and temples of King Mindon and King Bagyidaw of Myanmar in Bodh Gaya is at an advanced stage and would be completed by December 2017. The Myanmar side welcomed this information noting that these temples constitute an important aspect of India-Myanmar cultural heritage.
  • Myanmar welcomed India’s assistance in the socio-economic development of Bagan while preserving and conserving its heritage. Prime amongst these is the project to restore and conserve 92 ancient pagodas and structures in Bagan through the Archaeological Survey of India. The two sides welcomed the finalization of an MoU in this regard. Other projects proposed to be undertaken as India-Myanmar cooperation projects are those of setting up of "Bagan Haat" as a hub of Myanmar craft, food and cultural activities, LED-based street lighting, rain water harvesting for sustainable water management, training for alternative income generation for the people of Bagan and upgradation of identified schools.
  • Myanmar expressed deep appreciation to India for the decision taken by the Government of India to give Myanmar nationals gratis visa in all categories, except e-visa.
  • The Government of Myanmar thanked India for its decision to grant special pardon to 40 Myanmar nationals who are currently undergoing imprisonment in India for various crimes. This gesture was deeply appreciated by both the Government and the people of Myanmar, especially by the families of those who will be released from Indian jails.
  • Recognising the importance of the role played by the media in fostering and supporting democracy, both sides welcomed the conclusion of the Memorandum of Understanding on cooperation between the Press Council of India and the Myanmar Press Council. Activities under this framework will encourage exchanges between journalists and promote better understanding of political and economic developments in India and Myanmar.
  • Both sides reaffirmed their shared commitment to deepen regional cooperation to maximize the mutuality of interests and to ensure equitable share of mutual benefits in all areas, including trade, transport and energy. They recognized the importance of various regional/sub-regional collaborative initiatives to improve the lives and livelihoods of all people across the two countries.
  • India and Myanmar reaffirmed their commitment to work closely in the UN and other multilateral organizations. They underscored the importance of coordinating their positions on multilateral issues of common interest. Both sides reiterated the importance of a strong United Nations and emphasized the need for an early reform of the Security Council. They reaffirmed their commitment to support the Inter-Governmental Negotiations for comprehensive reforms of the Security Council. Myanmar reiterated its support for India’s efforts to become permanent member of an expanded and reformed UN Security Council. The two sides also reaffirmed their commitment to work together particularly in the international arena to strengthen the means of implementation as enshrined in the SDGs 2030. The two sides stressed the importance of objectivity and impartiality of the United Nations and its specialized agencies in pursuing their work.
  • Both sides underscored the need for strengthening and reform of multilateral financial institutions and enhancing the voice and participation of developing countries in international economic decision-making.
  • India and Myanmar expressed firm commitment to set an example of good neighbourliness in the region. They emphasized that they must continue to progress together. They therefore agreed to promote shared interests of the peoples of the two countries so as to live together harmoniously and in a mutually beneficial inter-dependent environment.
  • Prime Minister Modi thanked the President of Myanmar for the warm and gracious hospitality extended to him and his delegation during their stay in Myanmar.
  • Prime Minister Modi also invited State Counsellor Daw Aung San Suu Kyi to visit India at a mutually convenient time. The State Counsellor of Myanmar expressed her deep appreciation for the invitation.

****

AKT/NT

Shri Raj Kumar Singh took over as new Union Minister of State (IC) in Ministries of Power & New & Renewable Energy here today. Shri Piyush Goyal, New Railways Minister & former Power Minister was present to hand over the charge to Shri Singh .

Speaking to media after assuming his office , Shri Singh there is lot of dynamism in the both Power & Renewable Energy Ministries which will be continued. Shri Singh said, that he would meet all standards of performance set by the his predecessor and new Railway Minister Shri Piyush Goyal in the Ministries of Power and Renewable energy . The Country is now energy surplus and that the vision of the Ministries has been defined by his predecessor , Shri Singh added . He assured Shri Goyal that the good work started by him will be completed and the Prime Minister's vision will be realised.

On the occasion, Shri Goyal said he has inherited the finest team of officers in the Government of India because everybody in the Ministries and PSUs related to it , is charged and emotional.

Shri Goyal said, the officials in Ministries as well as in its PSUs want to cross limitless boundaries. The PSUs are very committed. Talking about Shri Singh, Shri Goyal said that he has always concerned about providing electricity to all homes and under his leadership now the power & New Renewable Energy Ministries will achieve new benchmarks of performance and targets.

RM/

The twin-island state Antigua and Barbuda has taken a leading role in terms of clean energy supply in the Caribbean.

Tamarugal Solar Project in the Tarapacá region will provide reliable, non-intermittent electricity from solar energy 24-hours a day 

SolarXXL is an already well known and successful company for photovoltaics in Europe.

France’s EDF Renewable Energy (EN) has inaugurated the 146 MW Boléro solar plant in the Atacama Desert of Northern Chile, according to a press release.

Omron is ready to realise new photovoltaic business opportunities in Argentina.

SUNEW, a Brazilian company located in one of the principal poles of solar energy on the planet, just announced the largest global use of OPV (Organic Photovoltaic) technology, considered to be the third generation in solar energy, installed on the outside of a commercial building.

GRAND PRAIRIE, Texas--(BUSINESS WIRE)--IKEA, the world’s leading home furnishings retailer, today announced that the solar panel installation is complete atop its future Grand Prairie, TX store opening late Fall 2017 as the company’s second Dallas-Fort Worth-area store. The array is the fourth IKEA solar array in the State of Texas. The Grand Prairie store’s 181,500-square-foot solar array consists of a 1.25 MW system, built with 2,800 large format panels that will produce approximately 2,000,000 kWh of electricity annually for the store, the equivalent of reducing 1,406 tons of carbon dioxide (CO2) – equal to the emissions of 197 cars or providing electricity for 208 homes yearly (calculating clean energy equivalents at www.epa.gov/energy/greenhouse-gas-equivalencies-calculator).

For the development, design and installation of the new store’s solar power system, IKEA selected SunPower, one of the world's most innovative and sustainable energy companies providing complete solar solutions and services. MYCON Construction is building the store that reflects the same unique architectural design for which IKEA stores are known worldwide.

“Completing the solar installation is another exciting and sustainable step in the progress towards opening the future IKEA Grand Prairie,” said Matt Hunsicker, store manager. “IKEA strives to create a sustainable life for communities where we operate, and IKEA Grand Prairie is adding to this goal with our fourth rooftop solar array in Texas.”

This array represents the 47th solar project for IKEA in the U.S., contributing to the IKEA solar presence atop more than 90% of its U.S. locations, with a total generation goal of more than 44 MW. IKEA owns and operates each of its solar PV energy systems atop its buildings – as opposed to a solar lease or PPA (power purchase agreement) – and globally allocated $2.5 billion to invest in renewable energy through 2020, reinforcing its confidence and investment in solar photovoltaic technology. Consistent with the goal of being energy independent by 2020, IKEA has installed more than 700,000 solar panels on buildings across the world and owns approximately 300 wind turbines, including 104 in the U.S.

IKEA, drawing from its Swedish heritage and respect of nature, believes it can do good business while minimizing impacts on the environment. Globally, IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. Specific U.S. sustainable efforts include: recycling waste material; incorporating environmental measures into the actual buildings with energy-efficient HVAC and lighting systems, recycled construction materials, skylights in warehouse areas, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, and selling only LED bulbs. IKEA has installed electric vehicle charging stations at 30 stores, with more locations planned, including 3 units at the future Grand Prairie store.

The 290,000-square-foot future IKEA Grand Prairie and its 1,100 parking spaces is being built on 30 acres along the eastern side of State Highway 161 and Mayfield Road, north of Interstate-20. Until IKEA Grand Prairie opens as the state’s fourth store, customers can shop at Collin County’s IKEA Frisco or online at IKEA-USA.com. Other Texas IKEA stores are in Houston and Round Rock, with a San Antonio-area one planned to open Summer 2019 in Live Oak, and a Fort Worth store to open as the third DFW-area location, also in Summer 2019.

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices so the majority of people can afford them. There are currently more than 400 IKEA stores in 49 countries, including 44 in the U.S. IKEA has been ranked among “Best Companies to Work For” and, as further investment in its coworkers, has raised its own minimum wage twice in two years. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest.

JUNO BEACH, Fla., Sept. 19, 2017 /PRNewswire/ -- NextEra Energy Partners, LP (NYSE: NEP) today announced the pricing of $550 million of 4.25 percent senior unsecured notes due 2024 and $550 million of 4.50 percent senior unsecured notes due 2027 (the "notes") to be issued by its direct subsidiary, NextEra Energy Operating Partners, LP (NEP OpCo), in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons under Regulation S under the Securities Act, subject to market and other conditions. The previously announced offering is expected to close on Sept. 25, 2017, subject to customary closing conditions.

The notes will pay interest semi-annually at annual rates of 4.25 percent and 4.50 percent, respectively, and will mature on Sept. 15, 2024, and on Sept. 15, 2027, respectively. The notes will be fully and unconditionally guaranteed on a senior basis by NextEra Energy Partners and NextEra Energy US Partners Holdings, LLC, a direct subsidiary of NEP OpCo ("NEP US Holdings").

NEP OpCo estimates the net proceeds from the notes offering prior to offering expenses are approximately $1,089 million. NEP OpCo intends to use a portion of the net proceeds from this offering to pay off the outstanding balance of $130 million under its revolving credit facility, repay the full $950 million outstanding existing indebtedness under NEP US Holdings' variable rate senior secured term loan agreements that largely mature in 2018 and pay related fees, expenses and other costs. Any remaining proceeds are expected to be used for general partnership purposes.

The offer and sale of notes and the guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction. Accordingly, the notes are being offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons under Regulation S under the Securities Act. The notes and the guarantees are not transferable absent registration or an applicable exemption from the registration requirements of the Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction.

NextEra Energy Partners, LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE) to acquire, manage and own contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun. The seven natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. The NET Mexico Pipeline, the largest pipeline in the portfolio, provides a critical source of natural gas transportation for low-cost, U.S.-sourced shale gas to Mexico.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy Partners, LP (together with its subsidiaries, NEP) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NEP's control. Forward-looking statements in this news release include, among others, statements concerning cash available for distributions expectations and future operating performance. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "aim," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NEP and its business and financial condition are subject to risks and uncertainties that could cause NEP's actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, the following: NEP has a limited operating history and its projects include renewable energy projects that have a limited operating history. Such projects may not perform as expected; NEP's ability to make cash distributions to its unitholders is affected by wind and solar conditions at its renewable energy projects; NEP's business, financial condition, results of operations and prospects can be materially adversely affected by weather conditions, including, but not limited to, the impact of severe weather; Operation and maintenance of renewable energy projects involve significant risks that could result in unplanned power outages, reduced output, personal injury or loss of life; Natural gas gathering and transmission activities involve numerous risks that may result in accidents or otherwise affect the Texas pipelines' operations; NEP depends on the Texas pipelines and certain of the renewable energy projects in its portfolio for a substantial portion of its anticipated cash flows; NEP is pursuing the expansion of natural gas pipelines in its portfolio that will require up-front capital expenditures and expose NEP to project development risks; NEP's ability to maximize the productivity of the Texas pipeline business and to complete potential pipeline expansion projects is dependent on the continued availability of natural gas production in the Texas pipelines' areas of operation; Terrorist or similar attacks could impact NEP's projects, pipelines or surrounding areas and adversely affect its business; The ability of NEP to obtain insurance and the terms of any available insurance coverage could be materially adversely affected by international, national, state or local events and company-specific events, as well as the financial condition of insurers. NEP's insurance coverage does not insure against all potential risks and it may become subject to higher insurance premiums; Warranties provided by the suppliers of equipment for NEP's projects may be limited by the ability of a supplier to satisfy its warranty obligations, or by the terms of the warranty, so the warranties may be insufficient to compensate NEP for its losses; Supplier concentration at certain of NEP's projects may expose it to significant credit or performance risks; NEP relies on interconnection and transmission facilities of third parties to deliver energy from its renewable energy projects and, if these facilities become unavailable, NEP's wind and solar projects may not be able to operate or deliver energy; If third-party pipelines and other facilities interconnected to the Texas pipelines become partially or fully unavailable to transport natural gas, NEP's revenues and cash available for distribution to unitholders could be adversely affected; NEP's business is subject to liabilities and operating restrictions arising from environmental, health and safety laws and regulations, compliance with which may require significant capital expenditures, increase NEP's cost of operations and affect or limit its business plans; NEP's renewable energy projects may be adversely affected by legislative changes or a failure to comply with applicable energy regulations; A change in the jurisdictional characterization of some of the Texas pipeline entities' assets, or a change in law or regulatory policy, could result in increased regulation of these assets, which could have a material adverse effect on NEP's business, financial condition, results of operations and ability to make cash distributions to its unitholders; NEP may incur significant costs and liabilities as a result of pipeline integrity management program testing and any necessary pipeline repair or preventative or remedial measures; The Texas pipelines' operations could incur significant costs if the Pipeline and Hazardous Materials Safety Administration or the Railroad Commission of Texas adopts more stringent regulations; Petroleos Mexicanos (Pemex) may claim certain immunities under the Foreign Sovereign Immunities Act and Mexican law, and the Texas pipeline entities' ability to sue or recover from Pemex for breach of contract may be limited and may be exacerbated if there is a deterioration in the economic relationship between the U.S. and Mexico; NEP does not own all of the land on which the projects in its portfolio are located and its use and enjoyment of the property may be adversely affected to the extent that there are any lienholders or leaseholders that have rights that are superior to NEP's rights or the U.S. Bureau of Land Management suspends its federal rights-of-way grants; NEP is subject to risks associated with litigation or administrative proceedings that could materially impact its operations, including, but not limited to, proceedings related to projects it acquires in the future; NEP's wind projects located in Canada are subject to Canadian domestic content requirements under their Feed-in-Tariff contracts; NEP's cross-border operations require NEP to comply with anti-corruption laws and regulations of the U.S. government and non-U.S. jurisdictions; NEP is subject to risks associated with its ownership or acquisition of projects or pipelines that remain under construction, which could result in its inability to complete construction projects on time or at all, and make projects too expensive to complete or cause the return on an investment to be less than expected; NEP relies on a limited number of customers and is exposed to the risk that they are unwilling or unable to fulfill their contractual obligations to NEP or that they otherwise terminate their agreements with NEP; NEP may not be able to extend, renew or replace expiring or terminated power purchase agreements (PPA) at favorable rates or on a long-term basis; NEP may be unable to secure renewals of long-term natural gas transportation agreements, which could expose its revenues to increased volatility; If the energy production by or availability of NEP's U.S. renewable energy projects is less than expected, they may not be able to satisfy minimum production or availability obligations under the U.S. Project Entities' PPAs; NEP's growth strategy depends on locating and acquiring interests in additional projects consistent with its business strategy at favorable prices; NextEra Energy Operating Partners' (NEP OpCo) partnership agreement requires that it distribute its available cash, which could limit NEP's ability to grow and make acquisitions; Lower prices for other fuel sources may reduce the demand for wind and solar energy; Reductions in demand for natural gas in the United States or Mexico and low market prices of natural gas could materially adversely affect the Texas pipelines' operations and cash flows; Government laws, regulations and policies providing incentives and subsidies for clean energy could be changed, reduced or eliminated at any time and such changes may negatively impact NEP's growth strategy; NEP's growth strategy depends on the acquisition of projects developed by NextEra Energy, Inc. (NEE) and third parties, which face risks related to project siting, financing, construction, permitting, the environment, governmental approvals and the negotiation of project development agreements; Acquisitions of existing clean energy projects involve numerous risks; Renewable energy procurement is subject to U.S. state and Canadian provincial regulations, with relatively irregular, infrequent and often competitive procurement windows; NEP may continue to acquire other sources of clean energy and may expand to include other types of assets. Any further acquisition of non-renewable energy projects may present unforeseen challenges and result in a competitive disadvantage relative to NEP's more-established competitors; NEP faces substantial competition primarily from regulated utilities, developers, independent power producers, pension funds and private equity funds for opportunities in North America; The natural gas pipeline industry is highly competitive, and increased competitive pressure could adversely affect NEP's business; NEP may not be able to access sources of capital on commercially reasonable terms, which would have a material adverse effect on its ability to consummate future acquisitions; Restrictions in NEP OpCo's subsidiaries' revolving credit facility and term loan agreements could adversely affect NEP's business, financial condition, results of operations and ability to make cash distributions to its unitholders; NEP's cash distributions to its unitholders may be reduced as a result of restrictions on NEP's subsidiaries' cash distributions to NEP under the terms of their indebtedness; NEP's subsidiaries' substantial amount of indebtedness may adversely affect NEP's ability to operate its business, and its failure to comply with the terms of its subsidiaries' indebtedness could have a material adverse effect on NEP's financial condition; Currency exchange rate fluctuations may affect NEP's operations; NEP is exposed to risks inherent in its use of interest rate swaps; NEE exercises significant influence over NEP; NEP receives credit support from NEE and its affiliates. NEP's subsidiaries may default under contracts or become subject to cash sweeps if credit support is terminated, if NEE or its affiliates fail to honor their obligations under credit support arrangements, or if NEE or another credit support provider ceases to satisfy creditworthiness requirements, and NEP will be required in certain circumstances to reimburse NEE for draws that are made on credit support; NextEra Energy Resources, LLC (NEER) or one of its affiliates is permitted to borrow funds received by NEP's subsidiaries and is obligated to return these funds only as needed to cover project costs and distributions or as demanded by NEP OpCo. NEP's financial condition and ability to make distributions to its unitholders, as well as its ability to grow distributions in the future, is highly dependent on NEER's performance of its obligations to return all or a portion of these funds; NEP may not be able to consummate future acquisitions; NEER's right of first refusal may adversely affect NEP's ability to consummate future sales or to obtain favorable sale terms; NextEra Energy Partners GP, Inc. (NEP GP) and its affiliates may have conflicts of interest with NEP and have limited duties to NEP and its unitholders; NEP GP and its affiliates and the directors and officers of NEP are not restricted in their ability to compete with NEP, whose business is subject to certain restrictions; NEP may only terminate the Management Services Agreement among, NEP, NextEra Energy Management Partners, LP (NEE Management), NEP OpCo and NextEra Energy Operating Partners GP, LLC (NEP OpCo GP) under certain specified conditions; If the agreements with NEE Management or NEER are terminated, NEP may be unable to contract with a substitute service provider on similar terms; NEP's arrangements with NEE limit NEE's potential liability, and NEP has agreed to indemnify NEE against claims that it may face in connection with such arrangements, which may lead NEE to assume greater risks when making decisions relating to NEP than it otherwise would if acting solely for its own account; NEP's ability to make distributions to its unitholders depends on the ability of NEP OpCo to make cash distributions to its limited partners; If NEP incurs material tax liabilities, NEP's distributions to its unitholders may be reduced, without any corresponding reduction in the amount of the IDR fee; Holders of NEP's common units may be subject to voting restrictions; NEP's partnership agreement replaces the fiduciary duties that NEP GP and NEP's directors and officers might have to holders of its common units with contractual standards governing their duties; NEP's partnership agreement restricts the remedies available to holders of NEP's common units for actions taken by NEP's directors or NEP GP that might otherwise constitute breaches of fiduciary duties; Certain of NEP's actions require the consent of NEP GP; Holders of NEP's common units currently cannot remove NEP GP without NEE's consent; NEE's interest in NEP GP and the control of NEP GP may be transferred to a third party without unitholder consent; The IDR fee may be assigned to a third party without unitholder consent; NEP may issue additional units without unitholder approval, which would dilute unitholder interests; Reimbursements and fees owed to NEP GP and its affiliates for services provided to NEP or on NEP's behalf will reduce cash distributions to or from NEP OpCo and from NEP to NEP's unitholders, and the amount and timing of such reimbursements and fees will be determined by NEP GP and there are no limits on the amount that NEP OpCo may be required to pay; Discretion in establishing cash reserves by NEP OpCo GP may reduce the amount of cash distributions to unitholders; NEP OpCo can borrow money to pay distributions, which would reduce the amount of credit available to operate NEP's business; Increases in interest rates could adversely impact the price of NEP's common units, NEP's ability to issue equity or incur debt for acquisitions or other purposes and NEP's ability to make cash distributions to its unitholders; The price of NEP's common units may fluctuate significantly and unitholders could lose all or part of their investment; The liability of holders of NEP's common units, which represent limited partnership interests in NEP, may not be limited if a court finds that unitholder action constitutes control of NEP's business; Unitholders may have liability to repay distributions that were wrongfully distributed to them; Provisions in NEP's partnership agreement may discourage or delay an acquisition of NEP that NEP unitholders may consider favorable, which could decrease the value of NEP's common units, and could make it more difficult for NEP unitholders to change NEP's board of directors; NEP's board of directors, a majority of which may be affiliated with NEE, decides whether to retain separate counsel, accountants or others to perform services for NEP; The New York Stock Exchange does not require a publicly traded limited partnership like NEP to comply with certain of its corporate governance requirements; Issuance of the Series A convertible preferred units will dilute common unitholders' ownership in NEP and may decrease the amount of cash available for distribution for each common unit; The Series A convertible preferred units will have rights, preferences and privileges that are not held by, and will be preferential to the rights of, holders of the common units; NEP's future tax liability may be greater than expected if NEP does not generate net operating losses (NOLs) sufficient to offset taxable income or if tax authorities challenge certain of NEP's tax positions; NEP's ability to use NOLs to offset future income may be limited; NEP will not have complete control over NEP's tax decisions; A valuation allowance may be required for NEP's deferred tax assets; Distributions to unitholders may be taxable as dividends; Unitholders who are not resident in Canada may be subject to Canadian tax on gains from the sale of common units if NEP's common units derive more than 50% of their value from Canadian real property at any time. NEP discusses these and other risks and uncertainties in its current report on Form 8-K filed on August 7, 2017 and other SEC filings, and this news release should be read in conjunction with such SEC filings made through the date of this news release. The forward-looking statements made in this news release are made only as of the date of this news release and NEP undertakes no obligation to update any forward-looking statements.

View original content with multimedia:http://www.prnewswire.com/news-releases/nextera-energy-partners-lp-announces-the-pricing-of-550-million-of-425-percent-senior-notes-due-2024-and-550-million-of-450-percent-senior-unsecured-notes-due-2027-300521879.html

SOURCE NextEra Energy Partners, LP

Related Links

http://www.nexteraenergypartners.com

RAINBACH IN MÜHLKREIS, Austria, September 19, 2017 /PRNewswire/ --

  • Kreisel Electric accelerates its international growth course
  • Patrick Knapp-Schwarzenegger acquires a stake in the company together with a group of strategic partners
From left: Markus Kreisel, Christian Schlogl (both management board), Patrick Knapp-Schwarzenegger, (strategic partner), and Andre Felker (CMO) from Kreisel Electric. Kreisel Electric is a solution provider for electronic storage solutions. Founded in 2014, the company is growing ever since. On 19 September 2017, the new research & development center opens as its headquarters. (PRNewsfoto/Kreisel Electric GmbH)
From left: Markus Kreisel, Christian Schlogl (both management board), Patrick Knapp-Schwarzenegger, (strategic partner), and Andre Felker (CMO) from Kreisel Electric. Kreisel Electric is a solution provider for electronic storage solutions. Founded in 2014, the company is growing ever since. On 19 September 2017, the new research & development center opens as its headquarters. (PRNewsfoto/Kreisel Electric GmbH)

Kreisel Electric opens its new high-tech research and development center as its headquarters today in Rainbach, Mühlkreis district, Upper Austria. The new location, which comprises almost 7,000 m2 of space, includes a prototype workshop and a completely automated manufacturing line for Kreisel Electric battery storage devices. These devices can be used in small-batch production of passenger vehicles, utility vehicles, buses, boats and airplanes, as well as in storage solutions. With the new location, where more than 200 employees will work starting in 2018, Kreisel Electric intends to accelerate its growth course and expand its e-mobility business internationally. "We have laid the cornerstone in Austria. From here, we now want to impress customers all over the world with our solutions," said Christian Schlögl, the CEO responsible for strategic development at Kreisel Electric.

     (Photo: http://mma.prnewswire.com/media/558102/Kreisel_Electric_Partners.jpg )

The Austrian federal chancellor Mag. Christian Kern is enthusiastic about Kreisel Electric's technology and is convinced of the company's great potential: "I am very proud that Kreisel Electric is advancing the process of electrification in Austria and worldwide as the technology leader. Human ingenuity is the basis for innovation and technology and therefore for future growth and jobs. We want to be the pioneer in this regard and Kreisel is a successful example that proves two things: first, that you do not necessarily need to have studied at MIT or Harvard to found a successful company, and second, that we in Austria have the potential of playing in the top league."

Kreisel Electric will be supported in the future by Los Angeles-based entrepreneur and attorney Patrick Knapp-Schwarzenegger, nephew of former California Governor Arnold Schwarzenegger. He leads a group of strategic partners that is purchasing a stake in Kreisel Electric through the U.S. company Clean Machine Inc. Knapp-Schwarzenegger and his partners maintain a worldwide network of prominent figures in politics and business, especially in the United States, and backed by their experience they will play a leading role in the international expansion plans. "The future belongs to Kreisel Electric's technologies. California has already led the way by showing that jobs and profits can be generated with renewable energy technologies, and have a positive effect on the environment. Our goal is to make Kreisel Electric a global market leader in e-mobility and I am looking forward to working closely and successfully with the outstanding Kreisel Electric team," said Knapp-Schwarzenegger.

New research and development center underscores Kreisel's technology leadership  

The opening of the new building, which is built in the shape of the Kreisel Electric logo, will enable the innovative provider of system solutions to grant licenses and manufacture small-batch runs itself in order to meet the increasing worldwide demand. In this way, Kreisel Electric will strive to further extend its technology leadership position internationally with B2B customers in Europe, the United States, India and Asia and reinforce its position as a global supplier of electricity storage solutions.

The new high-tech research and development center runs on power it generates itself. A 90m² photovoltaics plant (output: 250 kWp), a battery storage device with a capacity of 1,248 kWh, a 17,000-liter hot water tank and the use of waste heat and waste pumps help to generate the necessary energy to manufacture the batteries and feed power to its own power grid. The Kreisel Systems Division is responsible for planning and implementing the entire building concept.

Kreisel Electric makes electric automobiles safe, powerful, efficient and suitable for everyday use  

Using modern technology and great engineering skill, Kreisel Electric manufactures the lightest and most efficient battery on the market, weighing less than 4.1 kg/kWh and has a power density of 1.95 dm2/kWh. The special casing of the battery cells boosts the range and lifespan of the batteries. A circulating, non-flammable and environmentally friendly fluid allows for excellent thermal management and the batteries are manufactured by means of an innovative laser-welding process. The maximum total charging capacity of up to 320 kW allows for quick charging to about 80% of the battery's capacity or a driving range of 300 km in about 20 minutes. Compared to the conventional battery solutions of other manufacturers, the Kreisel system can increase the range of electric automobiles by up to 65%. The battery is more than 30 percent lighter than other manufacturers' battery solutions and the production costs are many times lower, thanks to the fully automated Kreisel Electric manufacturing process. "This makes electric vehicles suitable for everyday use," said Markus Kreisel, CEO of Kreisel Electric.

Kreisel Electric has already successfully retrofitted many combustion-engine automobiles to prove the technological capability of its batteries. Besides electrifying a Mercedes G-class for Arnold Schwarzenegger, Kreisel Electric has also equipped the EVEX Porsche 910 with an electric motor featuring an output of 360 KW and a battery capacity of 53 kWh. These features, coupled with the company's own automatic 2-gear transmission, allow for 0-to-100 km/h acceleration in 2.5 seconds and a maximum speed of more than 300 km/h.

Kreisel Electric will employ storage solutions in other industries as well  

In addition to the innovative manufacturing technology for electric automobiles, Kreisel Electric also offers complete storage solutions for many other application areas and industries, as a solution provider. Apart from its application in transportation, aviation & aerospace, maritime shipping and home storage devices, the Kreisel battery technology is also well suited for a wide range of stationary infrastructure applications such as commerce, traffic, logistics, energy supply and real estate development. With Kreisel Systems, Kreisel will develop an eco-system around the battery's use for stationary charging, energy and building systems. Because Kreisel Electric is focused on refining its battery technology, it will primarily grant licenses to partners to manufacture battery solutions and produce only small batches itself. "Through licensing, our unique business model is quickly scalable. Furthermore, we are a provider of system solutions and are not interested in high-volume production. We will meet the demand for high-volume series production together with our industrial partners, with whom we are already in a very advanced stage of negotiations. We are not and will not become an automobile manufacturer; instead, we will shape the future of e-mobility in cooperation with the automotive industry and their suppliers," said Christian Schlögl, CEO of Kreisel Electric.

Kreisel Electric is particularly interested in the complete electrification of the fleets and motor vehicles of towns and cities, such as garbage collection fleets for example, but also public mass transit and taxis. To this end, Kreisel Electric is already in close contact with many manufacturers and fleet operators to define remits and develop municipal electrification concepts. Kreisel Electric's technology will thus make a lasting contribution to improving the environmental quality and quality of life in towns and cities.

Contact
Dr. Marc Langendorf
Brunswick Group GmbH
Tel: +49-89-80-99-025-17
This email address is being protected from spambots. You need JavaScript enabled to view it.

André Felker
Kreisel Electric GmbH
Chief Marketing Officer
Tel: +43-7949-21400-1306
This email address is being protected from spambots. You need JavaScript enabled to view it.

You can also find current press releases at This email address is being protected from spambots. You need JavaScript enabled to view it. and at http://www.kreiselelectric.com/presse/

A picture accompanying this release is available in the AP PhotoExpress feed using ref# PRN1084326

SOURCE Kreisel Electric GmbH

  • Siemens Gamesa Renewable Energy has taken the decision to stop producing the 8-MW AD8 turbines designed by Adwen, which were supposed to be installed at the Yeu–Noirmoutier Islands and Dieppe–Le Tréport offshore wind farms. The company is now offering its 8-MW D8 turbine for the project.
  • The French Ministry of Ecological and Solidary Transition has approved the change in turbine.
  • Siemens Gamesa Renewable Energy will uphold Adwen's industrial commitments in France.

Adwen—now wholly owned by the new entity Siemens Gamesa Renewable Energy—notified Eoliennes en Mer, a company set up by ENGIE (47%), EDP Renewables (43%) and Caisse des Dépôts (10%), of its decision to stop producing the AD8-180 turbine. This model was initially meant to be used in the Yeu–Noirmoutier Islands and Dieppe–Le Tréport offshore wind-farm projects, which the consortium won in 2014. Siemens Gamesa Renewable Energy then decided to focus its production on the D8 model.

The companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands submitted this change to the Ministry of Ecological and Solidary Transition for approval. The Ministry approved Siemens' D8 technology for the project, after consulting with the French Energy Regulator (CRE).

Siemens Gamesa Renewable Energy will also uphold the industrial commitments of its subsidiary Adwen. On 21 March 2017, Adwen submitted permit applications for blade and nacelle production plants, which will be set up in Le Havre and will create 750 direct jobs. In addition, the decision of the consortium and its turbine supplier to use local manufacturers will help mobilise 750 additional jobs.

Since the approval of the project, the companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands have been working to develop two offshore wind farms. Each farm has a total output of 496 MW and the commissioning is expected in 2021. The companies Eoliennes en Mer Dieppe - Le Tréport and Eoliennes en Mer Yeu and Noirmoutier Islands submitted its applications for authorisation to the government in May 2017, in accordance with the timetable outlined in the specifications of the call for bids. ENGIE, EDP Renewables and Caisse des Dépôts are committed to the success of this local project, and they all share the same goal: to support the emergence of offshore wind power production in France.


About ENGIE

ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, CAC 40 Governance, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).

About EDP Renewables

EDP Renewables (Euronext: EDPR) is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 12 markets (Belgium, Brazil, Canada, France, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP has been a Dow Jones Sustainability Index for eight consecutive years.
EDPR is a major player of renewable energies in France with 388 MW installed capacity. EDPR is also a shareholder of the fix offshore projects of Noirmoutier/Yeu and Dieppe/Le Treport. EDPR is committed to support the Energy Transition effort by means of its expertise, financial and Human resources.
Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP is Portugal’s largest industrial group and the only Portuguese company to form part of the Dow Jones Sustainability Indexes (World and STOXX). For further information, please visit www.edpr.com

About The Caisse des Dépôts Group

Caisse des Dépôts and its subsidiaries are a state-owned group, a long-term investor dedicated to serving the public interest and regional economic development. Its vocation was reaffirmed by the law on modernisation of the economy of 4 august 2008. Widely recognised for its expertise in managing its areas of competence, the group focuses its efforts on four major areas of transition strategically vital to France's long-term development: territorial, ecology and energy, digital, demographic and social. www.caissedesdepots.fr

- Gezamenlijk project bevordert Chinees-Cubaanse samenwerking in de hernieuwbare energie-sector

NINGBO, China, 19 september 2017 /PRNewswire/ -- Risen Energy heeft onlangs bekendgemaakt dat het de aanbesteding heeft gewonnen voor de bouw van een zonnecentrale-project van 3,9 MW voor Cuba.

Het bedrijf zal een aantal hoogwaardige elementen leveren, waaronder 260W hoog-rendements polykristallijne modules, frames van aluminiumlegering, bijpassende verdeeldozen, sealants voor zonnepanelen en andere benodigde producten voor het zonnestation.

Het is de eerste keer dat Risen Energy producten levert op de Cubaanse markt voor PV-zonnemodules. Deze stap zal echter ook een positief effect hebben op de samenwerking tussen China en Cuba op het gebied van hernieuwbare energie en de betrekkingen tussen de twee landen verder versterken.

In een verklaring zei de Voorzitter van Risen Energy, dhr. Wang Hong: "In de afgelopen paar jaar is ons bedrijf trouw gebleven aan het kernprincipe: "Iedere keer dat u kiest voor Risen Energy, krijgen wij meer kracht en u meer waarde." Het staat vast dat de voortdurende inspanning van ons research and development team om veelzijdige, geavanceerde technologie te ontwikkelen, ertoe heeft geleid dat ons bedrijf een van de meest toonaangevende posities in de wereldwijde zonne-industrie heeft verworven. Tegelijkertijd voert het laboratorium dat op staatsniveau onderdeel uitmaakt van ons bedrijf, uitgebreide tests uit op ieder materiaal dat we bij onze productie willen inzetten. Risen zet de materialen pas in na meerdere testrondes met het materiaal en na goedkeuring door het laboratorium. Door dit beleid hebben wij het vertrouwen en de goedkeuring gewonnen van onze klanten in het binnenland en over de hele wereld. Dit heeft een solide basis gecreëerd voor ons bedrijf om nieuwe markten te gaan verkennen zoals deze in Cuba."

Onder deze overeenkomst zal Risen Energy solar PV modules en aanverwante materialen leveren aan de Cubaanse zijde. Teineinde de veilige installatie van modules te faciliteren en ervoor te zorgen dat ze goed zullen functioneren, heeft Risen Energy zich als altijd gehouden aan strenge kwaliteitsnormen en producten geleverd met garantie op hoge kwaliteit voor de aanleg van dit project en voor het financieel voordeel voor de lokale bevolking.

"Het potentieel van de hernieuwbare energie-markt laat zien dat hernieuwbare en dan met name de zonne-industrie de hoogste prioriteit heeft gekregen in het nieuwe beleid van de Cubaanse regering op het gebied van energie-optimalisatie en promotie van hernieuwbare energie." Voorzitter Wang Hong benadrukte: "Dit is een geweldige kans voor ons bedrijf om de betrekkingen tussen China en Cuba verder te versterken. Daarom geloof ik dat Risen Energy met dit gezamenlijk project en de uitgebreide ervaring van ons bedrijf op het gebied van hoog rendements zonnemodules Cuba zal helpen de hernieuwbare infrastructuur te ontwikkelen en te beginnen met het benutten van hernieuwbare energiebronnen op grotere schaal als onderdeel van de energiemix. Wij zullen het lokale energiesysteem in Cuba helpen verbeteren door de technologische kracht van de Chinese industrie.

Risen Energy Co., Ltd,
This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE Risen Energy Co., Ltd

21:00 ET

Preview: Risen Energy vence licitação para auxiliar Cuba na construção de uma estação FV solar de 3,9 MW

21:00 ET

Preview: Risen Energy gana licitación para ayudar a Cuba en la construcción de una estación solar fotovoltaica de 3,9 MW

- The joint project promotes further the Sino-Cuban cooperation in the renewable energy sector

NINGBO, China, Sept. 18, 2017 /PRNewswire/ -- Recently, Risen Energy announced that they won the bidding for assisting Cuba in the construction of a 3.9 MW solar PV project.

The company will provide a set of high-quality elements, including 260W high-efficiency polycrystalline modules, aluminum alloy frames, matching junction boxes, solar sealants and other products needed for the solar PV station.

This is the first time which Risen Energy is supplying products for the Cuban solar PV market. However, this step will certainly have a positive effect on the cooperation between China and Cuba in the area of renewable energy and will help develop further the relations between the two countries.

In a statement, the Chairman of Risen Energy, Mr. Wang Hong said: "In the last few years our company has been adhering to the core principle: "Every time you chose Risen Energy, we increase in power, you rise in value." Indeed, through constant effort, our research and development team has created a multifaceted cutting- edge technology and has helped our company win one of the leading positions in the solar industry worldwide. At the same time, the state-level laboratory based in our company performs detailed tests on every single material which we intend to incorporate in our production. After the material undergoes multiple tests and is approved by the laboratory, only then it can be used by Risen. Because of this policy we have won the trust and approval of our clients at home and all around the world. It has created a solid basis for our company to explore new markets like the one in Cuba."

According to the agreement, Risen Energy will provide solar PV modules and related materials to the Cuban side. To facilitate the safe installation of modules and make sure they will function properly, Risen Energy, as always, has adhered to strict quality standards and has supplied products with guarantee for high quality for the creation of this project and for the financial benefit of local people.

"The potential of the renewable energy market shows us renewable energy, and more specifically the solar industry, has become the biggest priority in the policies for energy optimization and renewable energy promotion initiated by the Cuban government." Chairman Wang Hong underlined: "This is a great opportunity for our company to promote further the relations between China and Cuba. For this reason, I believe that this joint project and the vast experience of our company in the area of high-efficiency solar PV modules, Risen Energy will help Cuba develop renewable energy infrastructure and start utilizing to a greater extent the renewable energy sources as part of its energy mix. We will help upgrade the local energy system in Cuba by providing the technological power of the Chinese industry.

Risen Energy Co., Ltd,
This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/risen-energy-won-the-bidding-for-assisting-cuba-in-the-construction-of-a-39-mw-solar-pv-station-300521154.html

SOURCE Risen Energy Co., Ltd

SHANGHAI, Sept. 11, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar"), a global leader in the photovoltaic (PV) industry, today introduced new technology and customer-centric solar solutions at Solar Power International (SPI).

"As an industry leader, JinkoSolar continues to invest in R&D and complementary solutions that help its customers better compete in the solar market," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc.  "The various solutions we are showcasing this year should provide customers with winning combinations."

Half-Cell and Bifacial Cell Technology
Eagle HC is a half cell module, which increases power output beyond 305 watts and 370 watts for both 60 and 72 cell formats.  Eagle BF is a bifacial module, which is under development and ready for deployment soon. 

Module Level Power Electronics
Eagle AC is JinkoSolar's new AC module with partner Enphase.  As a single integrated unit, the Eagle AC offers customers simplified logistics and faster installation times.  Eagle MX G2 is JinkoSolar's second generation module with partner Maxim.  The Eagle MX G2 has embedded optimizers and now introduces a voltage limiting feature which allows for longer strings.

Smart + Solar
JinkoSolar's all black mono PERC modules can also be found on Green Builder Media's Flex House at SPI, a small, flexible demonstration home that is completely connected, intelligent, resilient, and sustainable, including a fully integrated smart plus solar system. 

Financing
Supplementing its current stable of distributed financing offerings is JinkoSolar's new partnership with CleanFund's commercial PACE program.  Customers who use both JinkoSolar modules and CleanFund's commercial PACE financing for projects will be eligible for special pricing and incentives. 

More information is available at JinkoSolar's booth #3965 at Solar Power International, taking place in Las Vegas, Nevada, September 11-13.  

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 5.0GW for silicon ingots and wafers, 4.0GW for solar cells, and 6.5 GW for solar modules, as of March 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities in China (5), Malaysia, Portugal and South Africa, and 16 overseas subsidiaries across Japan (2),  Singapore, India, Turkey, Germany, Italy, Switzerland, Spain, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa. JinkoSolar has 16 global sales offices across China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email:
This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-showcases-new-solutions-at-solar-power-international-spi-300516860.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 8, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the photovoltaic (PV) industry, today announced that its wholly owned subsidiary, JINKOSOLAR CANADA CO., LTD, will supply approximately 17 MW dc of its solar PV modules to Borea Construction ULC ("Borea Construction") for the construction of the Brooks Solar Project in Brooks, Alberta in Canada.

The Brooks Solar Project is the first utility-scale solar project in western Canada and is owned by Elemental Energy Inc. ("Elemental"), a Vancouver-based renewable energy developer, investor, and operator. Elemental worked collaboratively with many stakeholders to successfully advance the project through late stage development and construction phases. Emissions Reduction Alberta is a contributing partner on the project.

Over 48,500 of JinkoSolar's high-efficiency Mono PERC modules will be used for the Brooks Solar Project, Canada's first solar project utilizing Mono PERC solar PV modules.

"We are proud to work with Borea Construction and Elemental Energy on the Brooks Solar Project, a landmark project for the province of Alberta," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc.

"We needed very high efficiency modules for the Brooks Solar Project," said Murray Westerberg, Director, Western Canada of Borea Construction, "and JinkoSolar presented the best value."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 production facilities in China (5), Malaysia, Portugal, and South Africa; 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates; and 18 global sales offices in China (2), United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil, and Mexico.

To find out more, please see: www.jinkosolar.com

About Elemental Energy Inc. (Elemental)

Elemental is a developer, investor and operator of renewable energy projects, with interests in operating and development stage hydro, wind, and solar projects throughout North America. Elemental provided 100% of the equity financing for Brooks Solar and will be the long-term owner and operator of the project.

To learn more visit: www.elementalenergy.ca

About Borea Construction ULC (Borea Construction)

Borea Construction is Canada's leader in renewable energy construction having constructed nearly 1/3 of all renewable energy projects in Canada, which translates into 40+ projects and 4,300+ MW of wind and solar energy from coast to coast.

Borea Construction is a family-owned joint venture between Pomerleau, one of Canada's premier construction firms, and Blattner Energy, the largest contractor specializing in renewable energy construction in North America.

To learn more visit www.boreaconstruction.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-supplies-17-mwdc-of-solar-pv-modules-to-brooks-solar-project-in-canada-300516242.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Sept. 6, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced its unaudited financial results for the second quarter ended June 30, 2017.

Second Quarter 2017 Highlights

  • Total solar module shipments were 2,884 megawatts ("MW"), an increase of 39.5% from 2,068 MW in the first quarter of 2017 and an increase of 68.1% from 1,716 MW in the second quarter of 2016.
  • Total revenues were RMB7.92 billion (US$1.17 billion), an increase of 37.2% from the first quarter of 2017 and an increase of 39.8% from the second quarter of 2016.
  • Gross margin was 10.5%, compared with 11.2% in the first quarter of 2017 and 18.1% in the second quarter of 2016.
  • Income from operations was RMB85.3 million (US$12.6 million), compared with RMB56.8 million in the first quarter of 2017 and RMB308.8 million in the second quarter of 2016.
  • Net income attributable to the Company's ordinary shareholders from continuing operations was RMB47.4 million (US$7.0 million) in the second quarter of 2017, compared with RMB60.6 million in the first quarter of 2017 and RMB280.1 million in the second quarter of 2016.
  • Diluted earnings per American depositary share ("ADS") from continuing operations were RMB1.48(US$0.20).
  • Non-GAAP net income attributable to the Company's ordinary shareholders from continuing operations in the second quarter of 2017 was RMB61.2 million (US$9.0 million), compared with RMB80.4 million in the first quarter of 2017 and RMB344.1 million in the second quarter of 2016.
  • Non-GAAP basic and diluted earnings per ADS from continuing operations were RMB1.92(US$0.28) and RMB1.88(US$0.28), respectively, in the second quarter of 2017.

Mr. Kangping Chen, JinkoSolar's Chief Executive Officer commented, "Second quarter module shipments once again hit a record high, increasing 39.5% sequentially to 2,884MW. Total revenues hit $1.17 billion, an increase of 37.2% sequentially while our gross margin dropped slightly to 10.5%, from 11.2% in the first quarter of 2017."

"Shipments over the past few quarters have surged to new highs, allowing us to continuously capitalize on the growing recognition of JinkoSolar's brand and excellent products and services to increase our market share. While ASPs declined during the quarter, prices along our supply chain remained relatively high and impacting our margins. We also worked with our OEM partners more extensively than expected during the quarter to ensure timely delivery, which adversely impacted our margins. We are currently reviewing our strategy in order to improve profitability and further cut down the use of OEM going forward. Our efforts will also be focused on strengthening inventory management and controlling operating expenses." 

"Demand in China was very strong during the quarter, boosted by rush orders before the June 30th Feed-in-Tariff cutoff. This momentum is carrying on into the third quarter with the Top Runner projects, PV Poverty Alleviation projects, and DG projects generating stable demand, which is expected to continue throughout the rest of the year. The long-term demand of Chinese market will be supported by the upwards revision of 5-year targets set by the NEA. The Section 201 petition in the US continues to create market uncertainties. We remain committed to the US market and believe its long-term growth momentum will not change. Demand in emerging markets continued to grow, accounting for a larger portion of our shipments during the quarter. India's 100 GW target by 2022 is solid and will continue to create strong demand going forward. The solar markets of Mexico, Argentina and Brazil in Latin America are rapidly growing in scale while Egypt and Jordan in Middle East have the potential to become GW level markets next year. We expect demand in emerging markets to continue to grow in 2018."

"We are ramping up our mono wafer and PERC cell capacity. Our diamond wire-cutting multiply wafers are now in mass production and are combined with our black silicon cell technology. Our technological focus remains on efficiency and cost. With solid progress being made in the development of new technology, we will continue to maintain flexible and dynamic production capacity in order to meet demand from a rapidly changing market.

"We already have strong visibility in our order book through the rest of the year and have already begun to take orders for next year. We expect ASPs to remain stable during the second half of the year. With our focus now shifting towards profitability, I am confident that we will benefit from the long-term growth prospects of the industry while generating sustainable returns for our shareholders."

Second Quarter 2017 Financial Results

Total Revenues

Total revenues in the second quarter of 2017 were RMB7.92 billion (US$1.17 billion), an increase of 37.2% from RMB5.78 billion in the first quarter of 2017 and an increase of 39.8% from RMB5.67 billion in the second quarter of 2016. The sequential and year-over-year increases were mainly attributable to an increase in solar module shipments, partially offset by the decline of average selling price of solar modules in the second quarter of 2017.

Gross Profit and Gross Margin

Gross profit in the second quarter of 2017 was RMB834.8 million (US$123.1 million), compared with RMB649.0 million in the first quarter of 2017 and RMB1.03 billion in the second quarter of 2016. The sequential increase was mainly attributable to the increase in solar module shipments. The year-over-year decrease was mainly attributable to a decline in the average selling price of solar modules in the second quarter of 2017.

Gross margin was 10.5% in the second quarter of 2017, compared with 11.2% in the first quarter of 2017 and 18.1% in the second quarter of 2016 mainly attributable to a decline in the average selling price of solar modules in the second quarter of 2017.

Income from Operations and Operating Margin

Income from operations in the second quarter of 2017 was RMB85.3 million (US$12.6 million), compared with RMB56.8 million in the first quarter of 2017 and RMB308.8 million in the second quarter of 2016. Operating margin in the second quarter of 2017 was 1.1%, compared with 1.0% in the first quarter of 2017 and 5.4% in the second quarter of 2016. The year-over-year decrease of operating margin was mainly attributable to a decline in gross margin in the second quarter of 2017.

Total operating expenses in the second quarter of 2017 were RMB749.5 million (US$110.6 million), an increase of 26.6% from RMB592.2 million in the first quarter of 2017 and an increase of 4.2% from RMB719.6 million in the second quarter of 2016. The sequential and year-over-year increases were primarily due to the increase in shipping costs, which was in line with the increase in solar module shipments.

Total operating expenses accounted for 9.5% of total revenues in the second quarter of 2017, compared to 10.3% in the first quarter of 2017 and 12.7% in the second quarter of 2016.

Interest Expense, Net

Net interest expense in the second quarter of 2017 was RMB80.6 million (US$11.9 million), an increase of 41.1% from RMB57.1 million in the first quarter of 2017 and an increase of 7.4% from RMB75.0 million in the second quarter of 2016. The sequential increase was due to the interest expense associated with the discounted notes receivable.

Exchange Gain / (Loss), Net

The Company recorded a net exchange loss of RMB34.2 million (US$5.0 million) in the second quarter of 2017, compared to a net exchange loss of RMB5.2 million in the first quarter of 2017 and a net exchange gain of RMB67.1 million in the second quarter of 2016.

Income Tax Expense / (Benefit), Net

The Company recorded an income tax benefit of RMB32.5 million (US$4.8 million) in the second quarter of 2017, compared with an income tax expense of RMB1.5 million in the first quarter of 2017 and an income tax expense of RMB90.4 million in the second quarter of 2016. The sequential change was mainly due to the additional 2016 income tax deduction for R&D costs approved by local tax bureau in the second quarter of 2017.

Net Income and Earnings per Share

Net income attributable to the Company's ordinary shareholders from continuing operations in the second quarter of 2017 was RMB47.4 million (US$7.0 million), compared with RMB60.6 million in the first quarter of 2017 and RMB280.1 million in the second quarter of 2016.

Basic and diluted earnings per ordinary share from continuing operations were both RMB0.37(US$0.05) during the second quarter of 2017. This translates into basic and diluted earnings per ADS from continuing operations of both RMB1.48(US$0.20).

Non-GAAP net income in the second quarter of 2017 was RMB61.2 million (US$9.0 million), compared with RMB80.4 million in the first quarter of 2017 and RMB344.1 million in the second quarter of 2016.

Non-GAAP basic and diluted earnings per ordinary share from continuing operations were RMB0.48(US$0.07) and RMB0.47(US$0.07), respectively, during the second quarter of 2017. This translates into non-GAAP basic and diluted earnings per ADS from continuing operations of RMB1.92(US$0.28) and RMB1.88(US$0.28), respectively.

Financial Position

As of June 30, 2017, the Company had RMB1.90 billion (US$280.1 million) in cash and cash equivalents and restricted cash, compared with RMB1.71 billion as of March 31, 2017.

As of June 30, 2017, the Company's accounts receivables due from third parties were RMB6.47 billion (US$954.5 million), compared with RMB5.93 billion as of March 31, 2017.

As of June 30, 2017, the Company's inventories were RMB5.20 billion (US$767.7 million), compared with RMB5.37 billion as of March 31, 2017.

As of June 30, 2017, the Company's total interest-bearing debts were RMB7.41 billion (US$1.09 billion), compared with RMB6.10 billion as of March 31, 2017.

Second Quarter 2017 Operational Highlights

Solar Module Shipments

Total solar module shipments in the second quarter of 2017 amounted to 2,884 MW.

Solar Products Production Capacity

As of June 30, 2017, the Company's in-house annual silicon wafer, solar cell and solar module production capacity was 6.0 GW, 4.5 GW and 7.5 GW, respectively.

Recent Business Developments

  • In August 2017, JinkoSolar supplied 35.46 MW to Gransolar for PV project in Mexico.
  • In July 2017, JinkoSolar announced that it has become the first PV module provider to guarantee that all JinkoSolar Standard Mass Produced PV Modules meet IEC62804 double anti-PID standards.
  • In July 2017, JinkoSolar supplied 30 MW ac of PV modules for 2 solar projects in Virginia to Hecate Energy, a leading developer, owner, and operator of power plants in North America and abroad.
  • In July 2017, JinkoSolar announced that it is partnering with TUVRheinland, an independent provider of technical services for testing, inspection, certification, consultation and training, to develop standardized testing methods for bifacial PV technology.
  • In June 2017, JinkoSolar signed a JPY4.1 billion syndicated loan agreement up to two years with a bank consortium led by Sumitomo Mitsui Banking Corporation.
  • In June 2017, JinkoSolar entered into an agreement with Quantum Power GK in Japan to exclusively supply 187MW worth of 275Wp modules for three projects located in Ibaraki, Gunma and Mie prefecture.
  • In May 2017, JinkoSolar supplied 65 MW of high efficiency Eagle Series modules for Energon Solar in Medak, Telangana, India.
  • In May 2017, Abu Dhabi Water and Electricity Authority, Sweihan Solar Holding Company Limited ("Sweihan"), a joint venture between JinkoSolar and Marubeni Corporation and a syndicate of international and local banks entered into financial agreements for the Sweihan Photovoltaic Independent Power Project in Abu Dhabi.
  • In May 2017, JinkoSolar became first Chinese PV manufacturer that passed 160 KWh/m2 UV test in terms of IEC61345 from TUV Rheinland.

Operations and Business Outlook

Strategic Shift in Overseas Downstream Solar Project Business

With the Company's focuses shifting towards its core competencies in manufacturing, JinkoSolar will cease developing new overseas downstream solar projects starting in the third quarter of 2017. The Company will continue to develop, construct and connect to the grid its existing overseas downstream solar projects.

The Company provided a debt payment guarantee in connection with a loan facility granted to Sweihan PV Power Company P.J.S.C, equity investee of the Company for developing overseas solar power project, in a maximum aggregate principal amount not exceeding US$50 million.

Third Quarter and Full Year 2017 Guidance

For the third quarter of 2017, the Company estimates total solar module shipments to be in the range of 2.1 GW to 2.3 GW.

For the full year 2017, the Company estimates total solar module shipments to be in the range of 8.5 GW and 9.0 GW.

Conference Call Information

JinkoSolar's management will host an earnings conference call on Thursday, September 6, 2017 at 7:30 a.m. U.S. Eastern Time (7:30 p.m.Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

Hong Kong / International:

+852 3008 1527


U.S. Toll Free:

+1 866-564-2842


Passcode:

9936267





Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, September 13, 2017. The dial-in details for the replay are as follows:

International:

+61 (0) 2 9101 1954


U.S. Toll Free:

+1-888-203-1112


Passcode:

9936267





Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at www.jinkosolar.com.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 6.0 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 7.5 GW for solar modules, as of June 30, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities in China (5), Malaysia, Portugal and South Africa, 15 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa, and 18 global sales offices in China (2) ,United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.

To find out more, please see: www.jinkosolar.com

Use of Non-GAAP Financial Measures

To supplement its consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), JinkoSolar uses certain non-GAAP financial measures including, non-GAAP net income , non-GAAP earnings per Share, non-GAAP earnings per ADS, and non-GAAP diluted weighted average ordinary shares outstanding, which are adjusted from the comparable GAAP results to exclude certain expenses or incremental ordinary shares relating to share-based compensation, convertible senior notes and capped call options:

  • Non-GAAP net income is adjusted to exclude the expenses relating to changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes, exchange gain on the convertible senior notes and capped call options, stock-based compensation, allocation of net income to redeemable non-controlling interests, and accretion to redemption value of redeemable non-controlling interests; given these Non-GAAP net income adjustments above are either related to the Company or its subsidiaries incorporated in Cayman Islands, which are not subject to tax exposures, or related to those subsidiaries with tax loss positions which result in no tax impacts, therefore no tax adjustment is needed in conjunction with these Non-GAAP net income adjustments; and
  • Non-GAAP earnings per Share and non-GAAP earnings per ADS are adjusted to exclude the expenses relating to the issuance costs of convertible senior notes, changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes and exchange gain on the convertible senior notes and capped call options, stock-based compensation, and accretion to redemption value of redeemable non-controlling interests.

The Company believes that the use of non-GAAP information is useful for analysts and investors to evaluate JinkoSolar's current and future performances based on a more meaningful comparison of net income and diluted net income per ADS when compared with its peers and historical results from prior periods. These measures are not intended to represent or substitute numbers as measured under GAAP. The submission of non-GAAP numbers is voluntary and should be reviewed together with GAAP results.

Currency Convenience Translation

The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the readers, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2017, which was RMB6.7793 to US$1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate or any other rate. The percentages stated in this press release are calculated based on Renminbi.

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JINKOSOLAR HOLDING CO., LTD. 



UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except ADS and Share data)



For the quarter ended


For the six months ended     




June 30, 2016


March 31, 2017


June 30, 2017


June 30, 2016


June 30, 2017



 Continuing operations 

RMB


RMB


RMB


USD


RMB


RMB


USD



 Revenues from third parties 

5,630,411


5,753,080


7,908,533


1,166,571


10,844,943


13,661,612


2,015,195



















 Revenues from related parties 

36,349


23,724


15,555


2,294


102,960


39,279


5,794



















 Total revenues 

5,666,760


5,776,804


7,924,088


1,168,865


10,947,903


13,700,891


2,020,989



















 Cost of revenues 

(4,638,350)


(5,127,779)


(7,089,255)


(1,045,721)


(8,834,615)


(12,217,034)


(1,802,108)



















 Gross profit 

1,028,410


649,025


834,833


123,144


2,113,288


1,483,857


218,881



















 Operating expenses: 
















   Selling and marketing 

(373,336)


(413,812)


(550,823)


(81,251)


(711,707)


(964,635)


(142,291)



   General and administrative 

(203,360)


(115,950)


(125,029)


(18,443)


(382,342)


(240,979)


(35,546)



   Research and development 

(43,617)


(62,486)


(73,694)


(10,870)


(82,012)


(136,180)


(20,088)



   Impairment of long-lived assets 

(99,328)


-


-


-


(99,328)


-


-



 Total operating expenses 

(719,641)


(592,248)


(749,546)


(110,564)


(1,275,389)


(1,341,794)


(197,925)



















 Income from operations 

308,769


56,777


85,287


12,580


837,899


142,063


20,956



 Interest expenses, net 

(75,008)


(57,121)


(80,572)


(11,885)


(151,899)


(137,693)


(20,311)



 Change in fair value of derivative liability 

(2)


376


(16,394)


(2,418)


(1,109)


(16,018)


(2,363)



 Subsidy income 

39,423


55,192


49,038


7,233


74,615


104,229


15,375



 Exchange gain/(loss) 

140,943


(6,339)


(29,810)


(4,397)


188,535


(36,149)


(5,332)



 Change in fair value of forward contracts 

(24,741)


1,105


(4,341)


(640)


(42,828)


(3,235)


(477)



 Change in fair value of convertible senior
   notes and capped call options 

(49,076)


-


-


-


(79,847)


-


-



 Other income/(expense), net 

1,108


11,943


11,773


1,737


(377)


23,716


3,498



 Investment loss 

(1,158)


-


(194)


(29)


(1,640)


(194)


(29)



 Income from continuing operations before income taxes

340,258


61,933


14,787


2,181


823,349


76,719


11,317



 Income tax (expense)/benefit 

(90,410)


(1,528)


32,460


4,788


(190,714)


30,933


4,563



Income from continuing operations, net of tax

249,848


60,405


47,247


6,969


632,635


107,652


15,880



 Discontinued operations 
















Income from discontinued operations before income taxes   

83,867


-


-


-


62,456


-


-



Income tax expense, net

(479)


-


-


-


(615)


-


-



Income from discontinued operations, net of tax

83,388


-


-


-


61,841


-


-



















 Net income 

333,236


60,405


47,247


6,969


694,476


107,652


15,880



 Less: Net loss attributable to non-controlling
          interests from continuing operations 

(178)


(169)


(121)


(18)


(88)


(290)


(43)



 Less: Net income attributable to non-controlling
          interests from discontinued operations 

2,128


-


-


-


3,723


-


-



 Less: Allocation of net income to participating 
          preferred shares issued
          by discontinued operations 

3,648


-


-


-


3,648


-


-



 Less: Accretion to redemption value of redeemable 
          non-controlling
          interests of discontinued operations 

47,555


-


-


-


93,780


-


-



 Net income attributable to JinkoSolar
 Holding Co., Ltd.'s ordinary shareholders 

280,083


60,574


47,368


6,987


593,413


107,942


15,923



































































 Earnings/(loss) per share for ordinary shareholders,
basic 
















 Continuing operations 

1.99


0.48


0.37


0.05


5.04


0.84


0.16



 Discontinued operations 

0.24


-


-


-


(0.31)


-


-



 Total earnings/(loss) per share for ordinary
shareholders, basic 

2.23


0.48


0.37


0.05


4.73


0.84


0.16



































 Earnings/(loss) per share for ordinary shareholders,
diluted 
















 Continuing operations 

1.90


0.47


0.37


0.05


4.73


0.84


0.16



 Discontinued operations 

0.23


-


-


-


(0.31)


-


-



 Total earnings/(loss) per share for ordinary
shareholders, diluted 

2.13


0.47


0.37


0.05


4.42


0.84


0.16



















 Earnings/(loss) per ADS for ordinary shareholders,
basic 
















 Continuing operations 

7.96


1.92


1.48


0.20


20.16


3.36


0.64



 Discontinued operations 

0.96


-


-


-


(1.24)


-


-



 Total earnings/(loss) per ADS for ordinary
shareholders, basic 

8.92


1.92

#

1.48


0.20


18.92


3.36


0.64



















 Earnings/(loss) per ADS for ordinary shareholders,
diluted 
















 Continuing operations 

7.60


1.88


1.48


0.20


18.92


3.36


0.64



 Discontinued operations 

0.92


-


-


-


(1.24)


-


-



 Total earnings/(loss) per ADS for ordinary
shareholders, diluted 

8.52


1.88


1.48


0.20


17.68


3.36


0.64



















 Weighted average ordinary shares outstanding: 
















   Basic 

125,501,184


126,820,607


128,247,292


128,247,292


125,489,224


127,556,967


127,556,967



   Diluted 

132,545,247


128,179,515


129,493,716


129,493,716


135,035,911


128,859,633


128,859,633



















 Weighted average ADS outstanding: 
















   Basic 

31,375,296


31,705,152


32,061,823


32,061,823


31,372,306


31,889,242


31,889,242



   Diluted 

33,136,312


32,044,879


32,373,429


32,373,429


33,758,978


32,214,908


32,214,908



















UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

























 Net income 

333,236


60,405


47,247


6,969


694,476


107,652


15,880



 Other comprehensive income: 
















   -Foreign currency translation adjustments 

(10,887)


(17,563)


(22,391)


(3,303)


(12,466)


(39,954)


(5,894)



 Comprehensive income 

322,349


42,842


24,856


3,666


682,010


67,698


9,986



 Less: Comprehensive income attributable to non-
controlling interests 

1,950


(169)


(121)


(18)


3,635


(290)


(43)



 Comprehensive income attributable to JinkoSolar
Holding Co., Ltd.'s ordinary shareholders 

320,399


43,011


24,977


3,684


678,375


67,988


10,029



















































 Reconciliation of GAAP and non-GAAP Results(Excluding discontinued
operations) 































 1. Non-GAAP earnings per share and non-GAAP
earnings per ADS 
































 GAAP net income attributable to ordinary
shareholders from continuing operations 

250,026


60,574


47,368


6,987


632,723


107,942


15,923



















 Change in fair value of convertible senior notes and
capped call options 

49,076


-


-


-


79,847


-


-



















 4% of interest expense of convertible senior notes 

10,463


1,555


1


-


23,992


1,556


230



















 Exchange loss/(gain) on  convertible senior notes
and capped call options 

21,224


844


(1)


-


18,219


843


124



















 Stock-based compensation expense 

13,353


17,402


13,822


2,039


26,023


31,224


4,606



















 Non-GAAP net income attributable to ordinary
shareholders from continuing operations 

344,141


80,375


61,190


9,026


780,804


141,565


20,883



















 Non-GAAP earnings per share attributable to
ordinary shareholders from continuing operations - 
















   Basic 

2.74


0.63


0.48


0.07


3.37


1.11


0.16



   Diluted 

2.60


0.62


0.47


0.07


3.18


1.10


0.16



















 Non-GAAP earnings per ADS attributable to ordinary
shareholders from continuing operations - 
















   Basic 

10.96


2.52


1.92


0.28


13.48


4.44


0.64



   Diluted 

10.40


2.48


1.88


0.28


12.72


4.40


0.64



















 Non-GAAP weighted average ordinary shares
outstanding  
















   Basic 

125,501,184


126,820,607


128,247,292


128,247,292


125,489,224


127,556,967


127,556,967



   Diluted 

132,545,247


128,179,515


129,493,716


129,493,716


135,035,911


128,859,633


128,859,633



















 Non-GAAP weighted average ADS outstanding  
















   Basic 

31,375,296


31,705,152


32,061,823


32,061,823


31,372,306


31,889,242


31,889,242



   Diluted 

33,136,312


32,044,879


32,373,429


32,373,429


33,758,978


32,214,908


32,214,908



















Results presented herein exclude Jinko Power-related discontinued operations, unless specified otherwise
































JINKOSOLAR HOLDING CO., LTD. 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)



December 31, 2016


June 30, 2017


RMB


RMB


USD

ASSETS






Current assets:






  Cash and cash equivalents

2,501,417


1,531,000


225,835

  Restricted cash 

318,785


368,125


54,301

  Restricted short-term investments

3,333,450


3,168,027


467,309

  Short-term investments

71,301


93,282


13,760

  Accounts receivable, net - related parties

1,414,084


786,644


116,036

  Accounts receivable, net - third parties

4,753,715


6,470,520


954,453

  Notes receivable, net - related parties

610,200


600,000


88,505

  Notes receivable, net - third parties

915,315


310,284


45,769

  Advances to suppliers, net - related parties

662


-


-

  Advances to suppliers, net - third parties

325,766


431,100


63,591

  Inventories, net

4,473,515


5,204,392


767,689

  Forward contract receivables

641


-


-

  Deferred tax assets 

130,676


-


-

  Other receivables - related parties

79,125


122,484


18,067

  Prepayments and other current assets

766,645


1,377,668


203,216

Total current assets

19,695,297


20,463,526


3,018,531







Non-current assets:






  Restricted cash

197,214


157,466


23,227

  Project Assets

55,063


140,256


20,689

  Long-term investments

7,200


8,886


1,311

  Property, plant and equipment, net

4,738,681


5,885,094


868,098

  Land use rights, net

450,941


449,034


66,236

  Intangible assets, net

20,297


23,411


3,453

  Deferred tax assets 

134,791


265,467


39,158

  Other assets - related parties

173,376


336,906


49,696

  Other assets - third parties

617,780


341,816


50,422

Total non-current assets

6,395,343


7,608,336


1,122,290







Total assets

26,090,640


28,071,862


4,140,821







LIABILITIES






Current liabilities:






  Accounts payable - related parties

-


689


102

  Accounts payable - third parties

4,290,071


5,986,366


883,036

  Notes payable - third parties

4,796,766


4,199,871


619,514

  Accrued payroll and welfare expenses

582,276


596,698


88,018

  Advances from related parties

60,541


76,089


11,224

  Advances from  third parties

1,376,920


988,464


145,806

  Income tax payable

168,112


63,129


9,312

  Other payables and accruals

1,019,419


1,451,915


214,169

  Other payables due to related parties

76,034


12,935


1,908

  Forward contract payables

-


3,116


460

  Convertible senior notes - current

423,740


-


-

  Deferred tax liabilities 

17,074


-


-

  Derivative liability -  current

10,364


26,382


3,892

  Short-term borrowings from third parties,
     including current portion of long-term bank
     borrowings

5,488,629


6,633,893


978,551

  Guarantee liabilities to related parties

52,711


37,594


5,545

Total current liabilities

18,362,657


20,077,141


2,961,537







Non-current liabilities:






  Long-term borrowings

488,520


467,518


68,963

  Long-term payables

44,014


125,693


18,541

  Accrued warranty costs - non current

511,209


562,863


83,027

  Convertible senior notes

-


68


10

  Deferred tax liability

50,651


67,725


9,990

  Guarantee liabilities to related parties 
   - non current

173,376


147,926


21,820

Total non-current liabilities

1,267,770


1,371,793


202,350







Total liabilities

19,630,427


21,448,934


3,163,887







SHAREHOLDERS' EQUITY






Ordinary shares (US$0.00002 par value,
500,000,000 shares authorized, 126,733,266
and  130,186,074 shares issued and
outstanding as of  December 31, 2016 and
June 30, 2017, respectively)

18


18


3

Additional paid-in capital

3,145,262


3,240,279


477,967

Statutory reserves

466,253


466,253


68,776

Accumulated other comprehensive income

104,784


64,830


9,563

Treasury stock, at cost; 1,723,200 shares of
ordinary shares as of  December 31, 2016
and June 30, 2017, respectively

(13,876)


(13,876)


(2,047)

Accumulated retained earnings

2,758,268


2,866,210


422,788







Total JinkoSolar Holding Co., Ltd.

shareholders' equity

6,460,709


6,623,714


977,050







Non-controlling interests

(496)


(786)


(116)







Total liabilities and shareholders' equity

26,090,640


28,071,862


4,140,821

View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-second-quarter-2017-financial-results-300514462.html

SOURCE JinkoSolar Holding Co., Ltd.

XIAMEN, China, Sept. 3, 2017 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the PV industry, was invited to attend the 9th BRICS Summit hosted in Xiamen, China from September 3rd to 5th. The theme of the summit is "BRICS: Stronger Partnership for a Brighter Future". At the summit, JinkoSolar will provide insight on how the BRICS nations can fulfill their Paris Climate Agreement commitments through further cooperation in trade and in renewable energy development.

Paris agreement is deemed the "world's greatest diplomatic success," as it is the first comprehensive agreement that "brings all nations into a common cause to undertake ambitious efforts to combat climate change." The success of the agreement rests on a strong consensus on the cause of global warming and a unified commitment to curb this devastating crisis. The record low bid of 2.42 cent per kWh by JinkoSolar for the milestone 1117MW Abu Dhabi solar project demonstrated that solar can undercut coal as cheapest energy source and is the most economically viable and scalable energy alternative to coal. Solar's unique advantages of dispersed distribution and decentralized deployment will accelerate its adoption in more and more regions. Solar is the only feasible way to help all countries realize energy transformation and energy independence.

"Solar is not a conventional commodity, instead, it is a cross-boundary solution to addressing climate change and the antidote to save our earth. The setbacks to solar amidst growing anti-globalization will hurt our humanity in the long run. Given its social development nature, solar products should be treated with exception and free from nationalistic trade barriers. The acceleration and cheapening of efforts to replace coal-fired power plant will only be to the benefit of all 7 billion souls currently living on our mother earth. Humanity's sustainability and survival should be the world's upmost objective. Competing economic interests and man-made trade barriers will only discourage the world from coming together to tackle climate change, the most critical issues facing our planet today and the generations to come. Solar should be opt out of the endless trade war because the failure to develop solar threatens the future of all people, no matter of nationality," said Dany Qian, Vice President of JinkoSolar.

Regarding the role New Development Bank in BRICS renewable energy development, Dany Qian commented that, "New Development Bank (NDB) was set up to fund infrastructure projects in BRICS countries and promote sustainable development. With the dramatic drop in cost, solar projects' positive economic benefit and investment yields has been widely witnessed. We expect that in addition to direct investments in solar and other renewable energy projects, NDB can act as catalysts for attracting private funds into the sector through blended finance mechanisms that bridge the investment gap. Moreover, we hope that NDB will be a pioneer in launching and advancing green loans to finance clean energy projects, and initiate more innovative green financing tools."

Given its world' leading status, JinkoSolar has taken the lead in transitioning the BRICS nations towards a future-oriented and sustainable economy by driving down the cost of solar power, making the switch to renewable energy more economically viable, and increasing the feasibility of implementing the Paris Climate Agreement. JinkoSolar's insights at the conference will also help power the sustainable development of the BRICS nations.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-invited-to-attend-the-9th-brics-summit-300513398.html

SOURCE JinkoSolar

For investor and media inquiries, please contact: In China: Mr. Sebastian Liu, JinkoSolar Holding Co., Ltd., Tel: +86 21-5183-3056, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

SHANGHAI, Aug. 23, 2017 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2017 before the open of U.S. markets on Wednesday, September 6, 2017.

JinkoSolar's management will host an earnings conference call on Wednesday, September 6, 2017 at 7:30 a.m. U.S. Eastern Time (7:30 p.m.Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

Hong Kong / International:

+852 3008 1527

U.S. Toll Free:

+1 866-564-2842

Passcode:

9936267

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, September 13, 2017. The dial-in details for the replay are as follows:

International:

+61 (0) 2 9101 1954

U.S. Toll Free:

+1-888-203-1112

Passcode:

9936267

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at http://www.jinkosolar.com.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 5.0 GW for silicon ingots and wafers, 4.0 GW for solar cells, and 6.5 GW for solar modules, as of March 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities in China (5), Malaysia, Portugal and South Africa, 15 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa, and 18 global sales offices in China (2) ,United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Christian Arnell
Christensen
Tel: +86 10 5900 2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

View original content:http://www.prnewswire.com/news-releases/jinkosolar-to-report-second-quarter-2017-results-on-september-6-2017-300508304.html

SOURCE JinkoSolar Holding Co., Ltd.

The page you are trying to reach is currently unavailable.

For a list of today’s Nasdaq-hosted events as well as the direct webcast links, please see below. Supporting materials are available within the webcast where applicable.

Total events for the day : 6

Print
ET | Source: BluEarth Renewables Inc.

CALGARY, Alberta, Sept. 18, 2017 (GLOBE NEWSWIRE) -- BluEarth Renewables LP (BluEarth) is pleased to announce it has completed the acquisition of four operating renewable energy facilities from Veresen Inc., including three run-of-river hydro facilities in British Columbia and one wind facility in Ontario. These facilities have a weighted average contract life of 22 years and represent 85 megawatts (MW). Financial terms of the acquisition are confidential.

“In addition to pursuing greenfield opportunities, BluEarth’s growth strategy includes pursuing targeted acquisitions where we can take full advantage of our existing footprint and operational bench strength,” said Grant Arnold, BluEarth’s President & Chief Executive Officer. “With this acquisition, we now have a portfolio of over $1.7 billion of renewable energy facilities in operation and construction.”

Mr. Arnold added, “In just seven short years, we have built one of the strongest portfolios of long-term contracted renewable energy assets, a strong balance sheet supported by our strategic owner, Ontario Teachers’ Pension Plan Board, and one of the most experienced, passionate and dedicated teams in our industry. Beyond our operated facilities and those under construction, we also have a robust development portfolio across Canada. We are proud to show how business can be sustainable and profitable, leaving the world a better place.” 

Blake, Cassels & Graydon LLP acted as legal counsel and RBC Capital Markets acted as financial advisor to BluEarth for the acquisition.

About BluEarth Renewables

Headquartered in Calgary, BluEarth is a private, independent renewable power producer, focused on the acquisition, development, construction, and operation of wind, water, and solar projects. BluEarth’s majority shareholder is the Ontario Teachers’ Pension Plan Board.  BluEarth's mission is to be a Canadian based renewable energy leader by developing, building, and operating a portfolio that optimizes people, planet, and profit. BluEarth believes it has The Power to Change the FutureTM by demonstrating how to be sustainable and profitable, leaving the world a better place. For more information, visit www.bluearth.ca or follow us on twitter @BERenewables.

For more information, contact:

Dorreen Miller                   
Director, Communications                      
BluEarth Renewables
(587) 324-4238                          
This email address is being protected from spambots. You need JavaScript enabled to view it.

Calgary, Alberta, CANADA

  http://www.bluearthrenewables.com/

BluEarth Renewables Inc. Logo

LOGO URL | Copy the link below

Formats available:

Site Error

An error was encountered while publishing this resource.

Resource not found

Sorry, the requested resource does not exist.

Check the URL and try again.

Resource: en GET


Troubleshooting Suggestions

  • The URL may be incorrect.
  • The parameters passed to this resource may be incorrect.
  • A resource that this resource relies on may be encountering an error.

For more detailed information about the error, please refer to error log.

If the error persists please contact the site maintainer. Thank you for your patience.

Print
ET | Source: RGS Energy

DENVER, Aug. 24, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, and Sonnen, Inc., a global leader in smart energy storage systems, are immediately offering U.S. manufactured battery storage options to its mainland residential solar customers.

“We believe battery storage provides great value for our residential solar customers,” said Chris Gorski, RGS Energy’s director of Special Projects. “We chose Sonnen because of the safety, stability and long lifecycle of their lithium-iron phosphate batteries, and the fact that they have more than 20,000 sonnenBatterie systems installed worldwide. Battery storage is at the forefront of the solar industry as customers are seeking solutions to minimize the impact of power outages and the high cost of time-of-use power rates charged by an increasing number of utilities.”  

A sonnenBatterie system provides a variety of services to solar homeowners, including back-up power during utility outages and a reduction in expensive peak energy draws from the power grid. In 2016 alone, there were over 3,800 power outages in the U.S. The addition of a battery storage system allows solar systems to continue to function independently of the power grid, enabling solar homes to provide their own power day and night during an outage to keep key home appliances running, such as lights, refrigeration, security systems and sump pumps.

“Energy storage is still in the early stages of adoption in the U.S., but smart systems, like the sonnenBatterie, are the key to creating a foundation for clean and reliable energy for all,” said Blake Richetta, SVP of sonnen. “RGS is an ideal partner for sonnen as we both value high quality standards, have a history of proven performance and view our capability to innovate as the best options for customers.”

RGS Energy is a Sonnen certified installer and expects to begin deploying sonnenBatterie systems this fall.

About Sonnen

Sonnen believes clean, affordable, and reliable energy for all is one of the greatest challenges of our time. With over 20,000 sonnenBatterie systems installed worldwide, sonnen is a proven global leader in intelligent energy management solutions that provide greater energy control for residential customers through increased solar self-consumption, reduced peak energy usage and reliable backup power during outages – contributing to a cleaner and more reliable energy future. sonnen has won several awards for its energy innovations and sonnenBatterie products, including the 2017 Zayed Future Energy Prize, Fast Company’s Most Innovative Companies for 2017, MIT’s Technology Review’s 50 Smartest Companies in 2016, Global Cleantech 100 for 2015-2017, Greentech Media’s 2016 Grid Edge Award for innovation, and Cleantech’s 2015 Company of the Year Award in both Israel and Europe. For more information, visit www.sonnen-batterie.com/en-us/start

About RGS Energy 

RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: demand for battery storage solutions, the realized value to customers of use of battery storage solutions, and customers’ ability to reduce peak energy usage as a result of the use of a battery storage solution.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy’s Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Print
ET | Source: BioLargo, Inc.

Westminster, CA , Aug. 22, 2017 (GLOBE NEWSWIRE) -- BioLargo, Inc., (OTCQB: BLGO; www.biolargo.com), a sustainable science and technology company that delivers practical solutions for clean water, clean air and advanced wound care, announced in a blog post yesterday highlights from its 3rd annual technical symposium held at the Snow Valley Conference Center in Edmonton Alberta. The blog post, found here, included highlights regarding the successful tests conducted by a leading water engineering firm of BioLargo’s AOS system on industry-provided water, potential scalable designs of the AOS system to handle increased water flow in commercial settings, and a solar powered “AOS Mini” demonstrating the low power and flexibility of the AOS system in a design that could potentially provide clean water to extremely water-scarce or disaster-prone areas.

The company promises further updates and developments of its AOS and technical achievements in future blog posts.

About BioLargo, Inc.

BioLargo, Inc. is a sustainable science and technology company that makes life better by delivering award-winning products for clean water, clean air and advanced wound care. More information can be found about the company and its subsidiaries at www.BioLargo.com. Its subsidiary BioLargo Water, Inc. (www.BioLargoWater.com) showcases its emerging technology, the Advanced Oxidation System “AOS”, an award-winning product, having been awarded more than 35 research grants and counting, specifically designed to eliminate common, troublesome, and dangerous (toxic) contaminants in water in a fraction of the time and cost of current technologies. BioLargo's subsidiary Odor-No-More Inc., features sustainable odor elimination products including its CupriDyne Clean (www.CupriDyne.com) Industrial Odor Eliminator, a product currently serving the leading solid waste handling and wastewater treatment companies as well as any industry that must contend with malodors, VOC’s or similar air quality related problems. Its personal care products are finding adoption through white labeling or early market entry in the pet, equine, military supply and consumer markets, and include the Nature's Best Solution® and Deodorall® brands (www.OdorNoMore.com). BioLargo's subsidiary Clyra Medical Technologies, Inc. (www.ClyraMedical.com) focuses on advanced wound care management featuring effective and gentle solutions for chronic infected wounds and other uses to promote infection control. BioLargo also owns a 50% interest in the Isan System, a fully automated iodine dosing system being commercialized under a license to Clarion Water, Inc.

Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the risks and uncertainties included in BioLargo's current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo's Annual Report on Form 10-K.

Source: Uptick Newswire

Contact:
Company Contact
Dennis Calvert
President and CEO
BioLargo, Inc.
949-643-9540 x2

Print
ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, Aug. 22, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced its unaudited financial results for its second quarter ended June 30, 2017.

Second Quarter 2017 Highlights

  • Total shipments were 2,389.2 megawatts (“MW”), consisting of 2,147.5 MW of modules and 167.2 MW of cells to external customers, and 74.5 MW of modules to the Company’s downstream projects.  External shipments were up 88.3% y/y and 68.3% sequentially
     
  • Shipments of modules were 2,147.5 MW, an increase of 89.3% y/y and 62.1% sequentially
     
  • Shipments of cells were 167.2 MW, an increase of 75.8% y/y and 233.1% sequentially
     
  • Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially
     
  • Gross margin was 12.9%, a decrease of 240 basis points y/y and an increase of 120 basis points sequentially
     
  • Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the second quarter of 2016, and RMB 80.0 million ($11.8 million) in the first quarter of 2017
     
  • Net income was RMB 134.6 million ($19.9 million), compared to RMB 164.1 million ($24.2 million) in the second quarter of 2016, and RMB 8.1 million ($1.2 million) in the first quarter of 2017
     
  • Earnings per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.87 or $0.42 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017
     
  • Cash and cash equivalents were RMB 3.2 billion ($477.0 million), an increase of RMB 947.6 million ($139.8 million) during the quarter
     
  • Non-GAAP earnings1 per diluted ADS were RMB 2.87 or $0.42, compared to RMB 2.04 or $0.30 in the second quarter of 2016, and RMB 0.17 or $0.03 in the first quarter of 2017

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, "Second quarter results exceeded our expectations.  Robust shipments in China, primarily attributable to accelerated activity ahead of subsidy reductions, drove our year-over-year double-digit revenue growth in the quarter.  Additionally, better-than-expected average selling price and lower blended costs resulted in 120 basis-point sequential improvement in gross margin."

Mr. Jin continued, "We remain cautious on our business outlook as we enter the second half of 2017, given the slowdown in demand in our domestic market, coupled with the uncertainty around the Section 201 trade case in the U.S.  While anticipated changes in incentives is expected to slow the Chinese market in the second half of the year, we continue to believe our balanced global footprint and flexible business model will enable us to adjust to evolving market conditions.  Our team remains focused on prudently managing our working capital, strengthening our balance sheet and executing our business strategy to provide our customers with high-quality products.”

All shipment and financial figures refer to the quarter ended June 30, 2017, unless otherwise specified.  All “year over year” or “y/y” comparisons are against the quarter ended June 30, 2016.  All “sequential” comparisons are against the quarter ended March 31, 2017.

Total shipments were 2,389.2 MW, well above the guidance of 1,550 to 1,650 MW. This is mainly due to stronger than expected pull-in orders from the China market. External shipments of 2,314.7 MW increased 88.3% year over year and 68.3% sequentially.

External shipments breakdown by product (MW)

  2016Q2 2017Q1 2017Q2 QoQ% YoY%
Modules and module tolling 1,134.2 1,325.1 2,147.5 62.1 % 89.3 %
Cells and cell tolling 95.1 50.2 167.2 233.1 % 75.8 %
Total 1,229.3 1,375.3 2,314.7 68.3 % 88.3 %

External shipments breakdown by region (percentage)

  2016Q2 2017Q1 2017Q2 QoQ(pp) YoY(pp)
China 63.9 % 39.7 % 59.2 % 19.50 -4.70
APAC ex-China 12.0 % 44.2 % 24.9 % -19.30 12.90
Europe 3.7 % 5.5 % 5.1 % -0.40 1.40
North America 9.3 % 8.1 % 8.1 % 0 -1.20
South America 9.9 % 0.1 % 0.4 % 0.30 -9.50
Others 1.2 % 2.4 % 2.3 % -0.10 1.10

Net revenue was RMB 6.0 billion ($878.1 million), an increase of 44.7% y/y and 61.2% sequentially.

Gross profit of RMB 770.8 million ($113.7 million) increased 22.7% y/y and 77.9% sequentially.  Gross margin was 12.9%, which compares to 15.3% in the year-ago quarter, and 11.7% in the first quarter of 2017.

Total operating expenses of RMB 515.7 million ($76.1 million) were 8.7% of revenue.  This compares to operating expenses of 10.7% of revenue in the year-ago quarter, and 9.6% of revenue in the first quarter of 2017.

Operating profit was RMB 255.1 million ($37.6 million), compared to RMB 188.0 million ($27.7 million) in the year-ago quarter, and RMB 80.0 million ($11.8 million) in the first quarter of 2017.  Operating margin was 4.3%, compared with 4.6% in the prior year period and 2.2% in the previous quarter.

Interest expense was RMB 82.6 million ($12.2 million), compared to RMB 68.8 million ($10.1 million) in the year-ago quarter, and RMB 83.3 million ($12.3 million) in the first quarter of 2017. 

The change in fair value of warrant derivatives was nil, compared with positive RMB 47.4 million ($7.0 million) in the year-ago quarter, and nil in the first quarter of 2017. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016.
Earnings per diluted ADS were RMB 2.87 or $0.42, compared to earnings per diluted ADS of RMB 2.87 or $0.42 in the year-ago quarter, and earnings per diluted ADS of RMB 0.17 or $0.03 in the first quarter of 2017.

Liquidity
As of June 30, 2017, the Company had cash and cash equivalents of RMB 3.2 billion ($477.0 million), and total working capital of RMB 857.2 million ($126.5 million).  Total short-term borrowings were RMB 3.3 billion ($491.7 million). Total long-term borrowings were RMB 2.8 billion ($419.4 million), of which RMB 792.1 million ($116.8 million) were due in one year.

Business Outlook
For the third quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,600 to 1,700 MW.  Nearly all will be external shipments.

For the full year 2017, the Company is raising its shipment outlook.  Total cell and module shipments are now expected to range between 6.5 and 7.0 GW, up from 6.0-6.5 GW in the prior guidance.  This includes 100-150 MW of module shipments to the Company's downstream projects, down from 200-250 MW in the previous guidance.  Revenues will not be recognized for the modules shipped to the Company's downstream projects as required by US GAAP.

Update on Yangzhou Facility Fire and Production Capacity
The Company provided an update regarding the July 13 fire at the Company’s cell production facility in Yangzhou, Jiangsu province. There were no injuries in the incident. The Company maintains insurance coverage for its production equipment and is in the process of filing insurance claims related to the incident. The cause of the fire remains under investigation.

The Company estimates a loss in cell production capacity of 500 MW per annum as a result of the accident. Therefore, the Company expects its year-end cell capacity to be 6.5 GW, instead of the previous guidance of 7.0 GW. The Company now expects year-end module capacity to be 7.0 GW, instead of the previous guidance of 6.0 GW. Year-end wafer capacity guidance remains unchanged at 3.0 GW. The Company expects to restore the lost cell capacity by the first quarter of 2018.

All information regarding the impact of the fire is subject to change based on further evaluation and investigation.

Investor Conference Call / Webcast Details
JA Solar's management will host an earnings conference call on August 22, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

  Phone Number Toll-Free Number
United States +1 8456750437 +1 8665194004
Hong Kong +852 30186771 +852 800906601
Mainland China +86 8008190121
+86 4006208038
 
Other International +65 67135090  

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 66045523.

A replay of the conference call may be accessed by phone at the following numbers until August 30, 2017.  To access the replay, please reference the conference ID 66045523.

  Phone Number Toll-Free Number
United States +1 6462543697 +1 8554525696
Hong Kong +852 30512780 +852 800963117
Mainland China +86 8008700206
+86 4006322162
 
Other International +61 281990299  

Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2017, which was RMB 6.7793 to $1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on June 30, 2017, or at any other date. The percentages stated in this press release are calculated based on Renminbi.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world’s largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.

For more information, please visit www.jasolar.com.

1 JA Solar adjusts net income attributable to the Company's ordinary shareholders to exclude changes in fair value of certain warrants granted to certain investors in a registered direct offering (the "Offering") closed on August 16, 2013.

JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations and Comprehensive Income  
(Unaudited)  
  For three months ended  
  Jun. 30, 2016 Mar. 31, 2017 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 RMB'000 USD'000  
           
Net revenues 4,113,592   3,692,405   5,953,211   878,145    
Cost of sales (3,485,300 ) (3,259,070 ) (5,182,372 ) (764,441 )  
Gross profit 628,292   433,335   770,839   113,704    
Selling, general and administrative expenses (396,294 ) (312,858 ) (480,065 ) (70,813 )  
Research and development expenses (44,043 ) (40,460 ) (35,667 ) (5,261 )  
Total operating expenses (440,337 ) (353,318 ) (515,732 ) (76,074 )  
Income from operations 187,955   80,017   255,107   37,630    
Interest expense (68,804 ) (83,274 ) (82,617 ) (12,187 )  
Change in fair value of warrant derivatives 47,417     -      -      -     
Other income, net 30,878   22,516   13,654   2,014    
Income before income taxes 197,446   19,259   186,144   27,457    
Income tax expense (33,357 ) (11,136 ) (51,536 ) (7,602 )  
Net income 164,089   8,123   134,608   19,855    
Less: income attributable to noncontrolling interest 388     -      -      -     
Net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
           
Net income per share attributable to ordinary shareholders:          
  Basic 0.57   0.03   0.57   0.08    
  Diluted 0.57   0.03   0.57   0.08    
           
Weighted average number of shares outstanding:          
  Basic  234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
Comprehensive income          
Net income 164,089   8,123   134,608   19,855    
  Foreign currency translation adjustments, net of tax (22,068 ) 1,082   (786 ) (116 )  
Other comprehensive loss (22,068 ) 1,082   (786 ) (116 )  
Comprehensive income 142,021   9,205   133,822   19,739    
Income attributable to noncontrolling interest 388     -      -      -     
Comprehensive income attributable to JA Solar Holdings 141,633   9,205   133,822   19,739    
           
NON-GAAP RECONCILIATION          
           
GAAP net income attributable to JA Solar Holdings 163,701   8,123   134,608   19,855    
Change in fair value of warrant derivatives (47,417 )   -      -      -     
Non-GAAP net income attributable to JA Solar Holdings 116,284   8,123   134,608   19,855    
           
Non-GAAP net income per share attributable to ordinary shareholders:          
  Basic 0.41   0.03   0.57   0.08    
  Diluted 0.41   0.03   0.57   0.08    
           
Non-GAAP weighted average number of shares outstanding:          
  Basic 234,290,842   234,290,842   234,311,611   234,311,611    
  Diluted 234,443,142   234,300,567   234,333,946   234,333,946    
           
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Statements of Operations  
(Unaudited)  
  For six months ended  
  Jun. 30, 2016 Jun. 30, 2017 Jun. 30, 2017  
  RMB'000 RMB'000 USD'000  
         
Net revenues 7,583,306   9,645,616   1,422,804    
Cost of sales (6,379,652 ) (8,441,442 ) (1,245,179 )  
Gross profit 1,203,654   1,204,174   177,625    
Selling, general and administrative expenses (708,769 ) (792,923 ) (116,962 )  
Research and development expenses (83,642 ) (76,127 ) (11,229 )  
Total operating expenses (792,411 ) (869,050 ) (128,191 )  
Income from operations 411,243   335,124   49,434    
Interest expense (136,077 ) (165,891 ) (24,470 )  
Change in fair value of warrant derivatives 70,864     -      -     
Other income, net 47,159   36,170   5,335    
Income before income taxes 393,189   205,403   30,299    
Income tax expenses (71,126 ) (62,672 ) (9,245 )  
Net income 322,063   142,731   21,054    
Less: income/(loss) attributable to noncontrolling interest 1,705     -      -     
Net income attributable to JA Solar Holdings 320,358   142,731   21,054    
         
Net income per share attributable to ordinary shareholders:        
  Basic 1.12   0.61   0.09    
  Diluted 1.12   0.61   0.09    
         
Weighted average number of shares outstanding:        
  Basic   234,290,842     234,301,342     234,301,342    
  Diluted   234,482,552     234,317,372     234,317,372    
         
Comprehensive income        
Net income 322,063   142,731   21,054    
  Foreign currency translation adjustments, net of tax (22,208 ) 296   43    
Other comprehensive loss (22,208 ) 296   43    
Comprehensive income 299,855   143,027   21,097    
Income/(loss) attributable to noncontrolling interest 1,705     -      -     
Comprehensive income attributable to JA Solar Holdings 298,150   143,027   21,097    
         
NON-GAAP RECONCILIATION        
         
GAAP net income attributable to JA Solar Holdings 320,358   142,731   21,054    
Change in fair value of warrant derivatives (70,864 )   -      -     
Non-GAAP net income attributable to JA Solar Holdings 249,494   142,731   21,054    
         
Non-GAAP net income per share attributable to ordinary shareholders:        
  Basic 0.87   0.61   0.09    
  Diluted 0.87   0.61   0.09    
         
Non-GAAP weighted average number of shares outstanding:        
  Basic 234,290,842   234,301,342   234,301,342    
  Diluted 234,482,552   234,317,372   234,317,372    
         
JA Solar Holdings Co., Ltd.  
Condensed Consolidated Balance Sheets  
(Unaudited)  
         
  Dec. 31, Jun. 30,  
  2016 2017 2017  
  RMB'000 RMB'000 USD'000  
     
ASSETS        
Current assets:         
Cash and cash equivalents   2,569,402   3,233,663   476,991  
Restricted cash   836,761   1,137,672   167,816  
Accounts receivable    2,753,678   3,063,867   451,945  
Notes receivable    563,144   473,661   69,869  
Inventories   2,460,488   2,431,682   358,692  
Advances to suppliers   282,369   267,858   39,511  
Other current assets   799,314   552,080   81,436  
Total current assets   10,265,156   11,160,483   1,646,260  
Property and equipment, net   5,219,501   5,595,275   825,347  
Project asset   2,338,648   2,671,375   394,049  
Advances to suppliers   97,429   56,538   8,340  
Prepaid land use rights   524,208   531,723   78,433  
Long-term investment   69,022   71,717   10,579  
Other long term assets   517,292   700,988   103,401  
Total assets   19,031,256   20,788,099   3,066,409  
LIABILITIES AND SHAREHOLDERS’ EQUITY        
Current liabilities:        
Short-term borrowings    2,912,866   3,333,565   491,727  
Accounts payable    2,635,525   3,406,588   502,499  
Advances from customers   610,718   1,072,069   158,139  
Current portion of long term borrowings   525,256   792,123   116,844  
Accrued and other liabilities    1,966,475   1,698,903   250,601  
Total current liabilities   8,650,840   10,303,248   1,519,810  
Long-term borrowings    2,701,438   2,050,914   302,526  
Other long term liabilities   1,217,648   1,829,175   269,818  
Total liabilities   12,569,926   14,183,337   2,092,154  
Total JA Solar Holdings shareholders' equity   6,461,130   6,604,562   974,225  
Noncontrolling interest   200   200   30  
Total shareholders' equity   6,461,330   6,604,762   974,255  
Total liabilities and shareholders’ equity   19,031,256   20,788,099   3,066,409  
         
Contact:

The Blueshirt Group

Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Print
ET | Source: RGS Energy

DENVER, Aug. 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the nation’s original solar company since 1978, reported results for its second quarter ended June 30, 2017. The company also filed its quarterly report on Form 10-Q, as well as posted supplemental financial information on the quarterly results page in the Investor Relations section of its company website.

Q2 2017 Financial Summary

(000’s omitted) Q2 2017
  Q1 2017
  Q2 2016
Net loss $(4,030)   $(4,034)   $(3,463)
Stockholders’ equity (deficit)   13,904     17,886     (4,966)
Working capital $12,743     $15,857     $(2,653)

The company believes it has adequate financial capital to grow its top-line revenue and achieve break-even and thereafter better results, in future periods. Implementation of this strategy requires up-front expenses to expand sales teams, marketing for customer leads and development and implementation of new products and services, which are required investments before the company can expect to realize increased sales. 

Growth Strategy Update
The company earlier issued a business update announcing progress on its top-line revenue growth strategy.

Second quarter of 2017 results compared to the first quarter of 2017:

  • Gross sales increased 2X
  • Net sales increased 3X
  • Size of the company’s sales organization increased 40%
  • Average number of sales per direct sales person increased 24%
  • Acquisition cost-per-sale decreased 34%
  • Residential cycle time reduced 31%

Management Commentary
“In Q2, our progress was in-line with expectations that we set in our last business update,” said Dennis Lacey, CEO of RGS Energy. “It is important to note that Q2 was our first full quarter of operating with what we believe is appropriate working capital in place to effectively pursue our growth strategy. As this is the first quarter on this basis, we are heartened by the positive trends.”

Conference Call
RGS Energy will hold a conference call to discuss its second quarter 2017 financial results later today.

Date: Wednesday, August 9, 2017
Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)
Toll-free dial-in number: 1-877-545-1407
International dial-in number: 1-719-325-4929
Conference ID: 9865811
Webcast: http://public.viavid.com/index.php?id=125727

The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through August 16, 2017.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9865811

About RGS Energy 
RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “expect,” “target,” “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward- looking statements include: RGS Energy’s ability to successfully implement its growth strategy, achieve its target level of sales, generate cash flow from operations, achieve break-even and better results, expand its sales teams and marketing, decrease its customer acquisition cost, and develop and implement new products and services; and RGS Energy’s current capital resources being sufficient to implement its growth strategy.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

RGS Energy
Condensed Consolidated Balance Sheets
(in thousands)
  June 30, 2017 December 31, 2016 June 30, 2016
Cash $9,745 $2,940 $490
Restricted Cash - 173 8,250
Other current assets 6,516 6,742 8,844
Total current assets 16,261 9,855 17,584
Non-current assets 4,196 4,518 4,386
Total assets $20,457 $14,373 $21,970
       
Debt $1 $787 $5,609
Accounts payable 547 2,019 7,107
Other current liabilities 2,970 3,469 7,521
Total current liabilities 3,518 6,275 20,237
Non-current liabilities 3,035 3,120 6,698
Total liabilities 6,553 9,395 26,935
       
Stockholders’ equity (deficit) 13,904 4,978 (4,965)
Total liabilities and stockholders’ equity $20,457 $14,373 $21,970
       
Other information:      
Working Capital $12,743 $3,580 $(2,653)
RGS Energy
Consolidated Summary Statements of Operations
(in thousands, except per share amounts)
  Three Months Ended June 30, Six Months Ended June 30,
  2017 2016 2017 2016
Contract Revenue:        
Sale and Installation of Solar Systems $2,708 $4,750 $6,070 $9,553
Service 277 133 568 270
Leasing 12 14 25 28
Contract Expense:        
Installation of solar systems 2,668 4,175 5,744 8,692
Service 491 291 809 630
Customer acquisition expense 1,329 618 2,251 1,416
Contribution (1,491) (187) (2,141) (887)
Operating expense 2,461 2,743 5,432 5,759
Other expense - - - -
Litigation expense 55 - 135 24
Operating loss (4,007) (2,930) (7,708) (6,670)
Taxes - (27) - (27)
Derivative & Other 10 (576) (368) (648)
Income (loss) from continuing operations (3,997) (3,533) (8,076) (7,345)
Income (loss) from discontinued operations (33) 70 12 231
Net Income $(4,030) $(3,463) $(8,064) $(7,114)
         
Other Information:        
Loss per Share $(0.53) $(162.60) $(1.32) $(338.40)
Weighted average shares outstanding 7,481 21 6,102 21
Investor Relations Contact

Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

piyush goyal, coal industry, coal supply, coal minister, coal mines, indian coal industry, coal mining, industry news Goyal said the ministry was regularising production for the last 18 months as power plants were not lifting the fuel because of its easier availability owing to all-time high record production. (PTI)

Coal Minister Piyush Goyal today said his ministry is taking urgent steps to ensure coal supplies to power stations stabilise by month end or early October. He was speaking at the annual convention of Indo-American Chamber of Commerce (IACC) in Mumbai. Goyal’s assurance came after IACC President N Srinivasan flagged the issue of the depleting stock of coal at power stations. “Instead of buffer stock of 30-40 days, most of the power stations are having stock for 2-3 days,” a statement quoted Srinivasan as saying.

While promising that coal supply will be ramped up soon, Goyal said the ministry was regularising production for the last 18 months as power plants were not lifting the fuel because of its easier availability owing to all-time high record production. He said the coal secretary had written to chief secretaries of all states urging them to impress upon power stations to start stocking coal but the plea fell on deaf ears.

The surge in demand for coal could be attributed to the fact that power supply from hydel, nuclear and other sources fell by 12 per cent, 36 per cent and 7 per cent respectively last month and as a result demand for power from thermal power plants rose substantially, he added. He however said the shortage of coal stock at power stations augurs well as it will reignite the private investment.

Responding to another query from Srinivasan whether the government would restore the coal cess, which is subsumed under GST, Goyal said the coal cess was introduced with the twin objective of funding promotion of renewable energy and for fair pricing of coal-based energy generation. While assuring that the importance given to renewable energy would continue vigorously, he said the introduction of GST is in the national interest and sectarian interests should be submerged in the large interest of the nation.

Goyal, who was recently given the charge of railway ministry also, said 100 per cent electrification of railways was his priority so that Rs 16,000 crore spent on diesel import every year for railways are saved. The railways will focus to ramp up renewable energy considerably by utilising flexible light-weight solar panels on the rakes and stations, he said.

Goyal, who had a meeting with Maharashtra Chief Minister Devendra Fadnavis late last night, informed that he would come up with initiatives to rapidly scale up facilities for suburban railway commuters. The minister harped on the need for improving the railway safety saying India needs to invest heavily in railway infrastructure to meet the decades-old backlog.

Mytrah Energy, Piramal Group, IDFC Alternatives Renewable power producer Mytrah Energy has raised Rs 1,800 crore from Piramal Group’s financial services companies. (Piramal.com)

Renewable power producer Mytrah Energy has raised Rs 1,800 crore from Piramal Group’s financial services companies. These funds are being invested in the form of non-convertible debentures (NCDs) into two Mytrah group entities —  Mytrah Energy (India) (Rs 980 crore) and Mytrah Ujjwal Power (Rs 820 crore).  Funds will be used to take out existing investors, including IDFC Alternatives, AION Direct Singapore, Merrill Lynch International, Apollo Asia Private Credit Master Fund and Goldman Sachs Investment Holdings (Asia), with part of it also providing the required growth capital to the company.

Mytrah is one of the largest private firms in the renewable energy sector with a 2,000 MW portfolio of assets that are operational or in various stages of construction. This facility helps Mytrah streamline its capital structure at a time when several renewable energy firms are striving to reach critical scale of capacity prior to accessing the capital markets via an IPO or an InvIT. The industry continues to receive support from both the central and state governments with the shared objective of reaching 175 GW by 2022 from the current ~57 GW operating capacity.

National Aluminium Company (Nalco) is betting big on renewable energy resources to meet its...

Independent wind power producers, especially those in wind-rich areas, are stuck in a logjam, as they are unable to find channels to evacuate power from their ongoing or upcoming projects.

Independent wind power producers, especially those in wind-rich areas, are stuck in a logjam, as they are unable to find channels to evacuate power from their ongoing or upcoming projects. They have been crowded out by other players — not only thermal power companies and solar units but even turbine makers — which had “pre-booked” the vital right to access the inter-state power transmission connectivity points, or the ‘bays’ at the sub-stations of state-run Power Grid Corporation of India (PGCIL) According to industry sources, a crisis seems to be engulfing the wind power sector as given the pace at which PGCIL grant s connectivity, it may take several months before the logjam is eased. Firms that have won the maiden — and the only — wind auction held in February, where tariffs plunged to as low as Rs 3.46/unit too are hit by the lack of inter-state transmission access. While wind power producers like Mytrah and Orange have been granted only 300 MW each in the country’s top two sub-stations coveted by wind energy projects, equipment manufacturers such as Suzlon and Inox hold transmission capacities of 1,400 MW and 1,500 MW, respectively, in the same sub-stations located in Tamil Nadu and Gujarat.

And they are in no immediate need of the connectivity. The connectivity applications by Green Infra, one of the winners in the February auction, are still “under process” with PGCIL. According to the sources, if transmission points continued to be allotted on a a “first-come-first-served” basis, many wind IPPs would be deprived of access to PGCIL bays, while several firms which don’t generate power squat on them. For example, of 3,534 MW connectivity capacity granted by PGCIL’s Tirunelveli Pool substation in Tamil Nadu, nearly 2,200 MW belongs to wind equipment manufacturers, who are not in the core power generation business. Tirunelveli is one such ‘wind-rich’ area, where nearly 50% of the February-auction projects are to be built. According to industry estimates, about 39,000 MW of connectivity applications from the renewables sector comprising solar and wind power units have been received by PGCIL. And more than 80% of these applications have been filed after the ministry of new and renewable energy (MNRE) waived inter-state transmission charges and losses for wind power in September, 2016. On its part, PGCIL wants Central Electricity Regulatory Authority (CERC) to come up with revised directives on connectivity allocations. According to the sources, however, this is the primary reason behind the delay in conducting the second 1,000 MW wind power reverse auction. Since October 4 has been set as the new date for the auction, the industry, including global investors in the sector, are waiting for the CERC’s decision on inter-state transmission access.

The current imbroglio comes a few weeks after many wind power companies were asked by state discoms to revise the power purchase agreement (PPA) terms after the discovery of lower tariff in recent auction. The MNRE noted that “squatting of connectivity by project developers who may not be serious to execute the project” is depriving connectivity to those with better project visibility. It had suggested that CERC could allow PGCIL to allocate the bays to projects which are in immediate need of connectivity. The ministry also said connectivity applicants could provide a minimum bank guarantee of Rs 5 lakh/MW. According to industry sources, IPPs used to receive turnkey projects with sub-station connectivity from engineering procurement contract (EPC) companies under the earlier state-based feed-in-tariff regime, where state transmission utilities allowed the transfer of connectivity to IPPs from EPC firms. When wind projects began to be allotted on a national scale after the launch of auctions, the sub-station access came under PGCIL’s domain, where transfer of connectivity right is not allowed under the current CERC norms.

Translator

Advertisement

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter Join the Journey of Pan India B2C Solar Rooftop Series in Your Cities; visit https://t.co/Ab6kpz9SRT for more deta… https://t.co/Y4oCRboELh
Monday, 14 August 2017 10:24
SolarQuarter SolarRoofs India wishes you a very Happy Independence Day!!! https://t.co/s28rPfG4ui
Monday, 14 August 2017 10:23
SolarQuarter SolarQuarter In Convestion with, >> Mr. KishorShinde, General Manager, Maharashtra Energy Development Agency >> Mr…https://t.co/o5Jcr8j3oB
Monday, 14 August 2017 09:13
SolarQuarter In conversation with Mr.Chris Prengels, CEO,Tiger Power https://t.co/8BqIT9VNh0
Friday, 11 August 2017 09:20
SolarQuarter BePresent With Biggest CXOs of Indian Renewable Energy Sector For DelegateRegistrations, contact: Ms. Pratika Jath…https://t.co/w44NCJOaUu
Tuesday, 08 August 2017 09:41

Advertisement
Advertisement