Scandinavian solar power company REC has sold a German ground mounted 6MW PV plant in Bitterfeld to two Chorus Group investors, including Chorus Cleantech. REC took over the project in 2011 from the plant’s former developer, Grüne Energien, and successfully developed, financed and constructed the project with project financing from the Deutsche Kreditbank (DKB). Construction was finished in December 2011 to ensure the project’s eligibility for the higher 2011 FiT.
Solarhybrid Israel, subsidiary of Solarhybrid, recently sold 201MWp of project rights, which it originally bought in January for US$2,391,705, to Summit Energy of Israel. Under the agreement, current liabilities of Solarhybrid Israel amounted to US$398,617.50, while earn-out-payments in connection with the acquisition of the project rights totaled US$5,580,645.
During the latest round of auctions by state-run Karnataka Renewable Energy Development (KREDL), Welspun Group and Sunborne Energy Holdings were awarded contracts to build solar PV plants in Karnataka, India. According to Bloomberg, Welspun plans to build a 7MW PV project while Sunborne will develop a 10MW solar thermal project.
A Japanese government panel is said to be on its way to setting a feed-in tariff of ¥42 per kilowatt hour (approximately US$0.51), according to a Reuters report that in turn cited the Nikkei business daily. The new subsidy scheme is to come into play from July and is a response to the global disapproval of the country’s handling of the Fukushima nuclear crisis in March 2011.
According to a Hindu Business Line report, eight PV developers have been selected to install a total of 60MW in the Indian state of Karnataka.
In total the state will see the installation of 80MW of solar energy, of which 20MW will be solar thermal and 60MW PV energy. The Karnataka Solar Mission aims to install and connect 350MW by the year 2016. The developers were selected in a reverse bidding process. A second set of auctions is scheduled for October.
Cape and Vineyard Electric Cooperative (CVEC) has contracted Broadway Electrical Company with a Round II PV agreement to supply a total of 49.4MW energy for projects in Massachusetts. The company will develop, install and operate 44 PV projects in varying sizes, located in the areas of Martha’s Vineyard and Cape Cod. Broadway Electrical will sell the energy through a number of 20-year PPAs.
Former CEO of the Carbon War Room, Jigar Shah, and Eric Graber-Lopez of BlueWave Capital will both be speaking at the May 11-12 Solar Future Eastern USA 2012 conference and both agree that within the next five years solar energy in a large part of the US will be cheaper than power from the grid. They cite the continued drop of solar panel costs, combined with transportation costs of electricity increasing as the factors leading to such an expanded solar market.
The Vineyard Electric Cooperative (CVEC) announced that it had awarded its Round II PV contract to Broadway Electrical and Cape, which consists of two tiers of PV installations that amount to 49.37MW of PV capacity. Broadway will design and install 44 PV systems throughout the Cape Cod and Martha’s Vineyard regions, helping to supply the areas municipal companies’ electricity at a fixed kWh rate for 20 years.
Power Engineering reported that the city of Xigaze in Tibet has a new 30MW solar plant in operation. This is the first phase of a large-scale PV project that is being developed by Linuo Power Group. LDK Solar’s 60MW industrial solar park and Chaorisolar’s 10MW installation are still under construction.
Solar collector manufacturer SkyFuel has announced that it now offers insurance on their product warranties. After a year of negotiations, German reinsurer Munich Re has agreed to back SkyFuel’s warranties.
