The US residential solar lease market remains highly competitive with a new deal struck by SunPower to access US$325 million in new finance from 2-major investment banks, Citi and Credit Suisse. The new financing comes soon after major competitors in the third party leasing market, SunCity and Sunrun received significant new funding from Credit Suisse to the tune of a combined US$300 million in late July, 2012.
Installation of the Ivanpah Solar Electric Generating System (Ivanpah SEGS) worth US$2.2 billion is 50% complete, according to an announcement by NRG Energy, Google, BrightSource Energy and construction partner Bechtel.
Conergy has successfully completed the installation of its 1.8MW solar project at Aqua Pennsylvania’s Pickering water treatment facility. The Aqua Pickering Solar Farm produces 2.3kWh of peak-time energy per year and is expected to generate nearly 50,0000MWh of solar electricity over its lifetime.
Major restructuring efforts at First Solar took a backseat during the company’s second quarter conference call as management focused on a significant increase in its PV project pipeline. First Solar said it had added almost 1GW of new projects to a pipeline that previously stood at 2.9GW. Net sales were US$957 million, up from US$497 million last quarter while revenue guidance was raised for 2012 to US$3.6-US$3.9 billion, up from a range of US$3.5 billion to US$3.8 billion.
German logistics company Deutsche Bahn’s PV plant located in Wittenberge, Germany, has officially commenced operation. The plant was developed in partnership with India-based Moser Baer Clean Energy and has a total capacity of 3.92MWp.
Japan’s largest single utility-scale solar power plant, using 290,000 multicrystalline solar modules supplied by Kyocera is expected to cost in the region of US$345 million or approximately ¥27 billion when complet by autumn 2013. With project finance now in place, construction of the plant in Kagoshima City, on land owned by IHI Corporation, will start in September. The plant was initially announced in April 2012.
IKEA has been on a roll this week announcing the completion of its latest rooftop solar projects on its US stores. Following its Chicago and Atlanta installations, the company revealed that its Draper, Utah store now has a 1,015kW system spread across 180,500 square feet of rooftop space producing electricity.
Upsolar advised that it had completed the installation of its latest project, which also happens to be the company’s largest project in the US to date: a 2.2MW solar plant in Sharon, Vermont. Talmage Solar Engineering oversaw the construction of the project, which uses Tigo Energy’s Module Maximizer technology and the company’s digital monitoring services at the module level.
Just two days after IKEA’s Atlanta store officially turned on its rooftop solar array, the company announced that two of its Chicago-area stores, in Bolingbrook and Schaumburg, Illinois, now sport new rooftop PV projects. The two projects cover a total of 248,700 square feet and have a combined generating capacity of 1,989kW. Together, the two installations use 8,463 panels, which were provided by SolarWorld. SoCore Energy was responsible for the development, design and installation.
China Sunergy announced that it had recently signed a 7.8MW solar modules sales contract with the energy unit of Urban Group Australia, Urban Group Energy. The solar modules are scheduled to complete delivery by the end of August. China Sunergy noted that during Q1 2012, Australia accounted for 18% of its total shipments.
