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SoloPower Systems Launches World’s Lightest Off-Grid Energy Solution to Bring Electricity to Emerging Economies

Company to Deploy 10,000 Units in South Africa

Professional monitoring of PV plants with Solar-Log provides additional benefits

Energy yields from PV plants can only be secured over the long term with professional monitoring. However, many PV plants are still “flying blind”. Solare Datensysteme GmbH (SDS) wants to promote PV plant monitoring. That is why SDS is now starting to reward their installers and PV plant operators with a bonus payment.

Sky Solar Holdings, Ltd. Reports Second Quarter 2016 Unaudited Financial Results

Sky Solar Holdings, Ltd. , a global developer, owner and operator of solar parks, today announced its financial results for the second quarter of 2016 ended June 30, 2016.
Highlights:
Q2 2016 total revenue of $17.0 million, up 34.6% over Q2 2015
Q2 2016 electricity revenue of $15.6 million, up 40.2% over Q2 2015
Q2 2016 Adjusted EBITDA of $8.6 million, compared to $4.5 million in Q2 2015, up 91.5% year-over-year; Q2 2016 annualized Adjusted EBITDA return on equity ratio of 28.4%1
133.1 MW of IPP assets in operation as of June 30, 2016. Including the recent acquisition of operating assets in the U.S. on July 15, 2016, total IPP assets in operation currently stand at 155 MW.
As of June 30, 2016, 27.9 MW under construction, 232.3 MW of shovel-ready projects, and 1.0 GW of solar parks in pipeline.
Mr. Weili Su, Founder, Chairman and Chief executive officer of Sky Solar, commented, “We have begun operating 22 MW solar parks with average remaining PPA of 15 years in the United States since the completion of our acquisition of these assets from Greenleaf-TNX and SunPeak Universal Holdings on July 15, 2016, on top of our existing assets in other key markets. We believe the sustainable cash flow expected to be generated from these solar parks provides a strong foundation for future business development. The efforts we implemented in previous years to develop our business in key markets have resulted in attractive cash-on-cash return, and we expect these efforts to result in stable earnings over the long run. We have a very bright future in the renewable energy industry and appreciate the loyalty of our shareholders.”
Mr. Sanjay Shrestha, Chief Investment Officer of Sky Solar, and President of Sky Capital America commented, “As Mr. Su highlighted, we are pursuing opportunities in the U.S. and continue to remain disciplined with our investment return metrics. In addition to the recent acquisition of operating solar parks in the United States, we aim to enter into definitive agreements to acquire additional PV development pipeline in the U.S. within the third quarter of 2016. This is in addition to the 22.5 MW development stage permits in the U.S. that we acquired last month. We also expanded our partnership with Hudson to be a strategic financial partner for opportunities in the U.S. as well as in Latin America and we are in discussion with other potential strategic partners to expand our presence in key target markets. Our strategic objective remains on reducing our cost of capital and focus on owning or developing renewable assets with higher returns on capital. We look forward to reporting on our progress throughout the fiscal year.”
Second Quarter 2016 Financial Results
Revenue was $17.0 million, up 34.6% from $12.6 million in the same period of 2015.
Electricity sales were $15.6 million in the second quarter of 2016, up 40.2% from $11.2 million in the same period of 2015. The year-over-year growth in electricity sales was primarily due to the increase in the Company’s operational IPP assets globally. Electricity sales in the second quarter of 2016 was up 57.4% from $9.9 million in the first quarter of 2016, due to seasonally higher solar irradiation across most of the Company’s major geographic markets.
Systems and other sales were $1.4 million in the second quarter of 2016, down 7.5% from $1.5 million in the same period of 2015. The year-over-year decline in systems and other sales was primary due to the lower sales in Japan. Systems and other sales in the second quarter of 2016 were down 24.4% from $1.8 million in the first quarter of 2016, primarily due to the same reason.
The following table shows the Company’s sequential and year-over-year change in revenue for each category, geographic region and period indicated.
Q2 2016 Sequential
Change Q1 2016 Year-Over-Year
Change Q2 2015
(US$ in thousands, except percentages)
Asia 10,242 32.0 % 7,761 55.9 % 6,569
Electricity Sales 9,804 53.5 % 6,389 69.2 % 5,795
System Sales and Other 438 -68.1 % 1,372 -43.4 % 774
Europe 4,436 73.1 % 2,563 -0.6 % 4,465
Electricity Sales 3,870 80.9 % 2,139 2.0 % 3,794
System Sales and Other 566 33.5 % 424 -15.6 % 671
South America 409 -46.5 % 764 – –
Electricity Sales 127 -83.4 % 764 – –
System Sales and Other 282 – – – –
North America 1,909 195.5 % 646 20.0 % 1,591
Electricity Sales 1,838 184.5 % 646 17.1 % 1,569
System Sales and Other 71 – – 222.7 % 22
Electricity Sales 15,639 57.4 % 9,938 40.2 % 11,158
System Sales and Other 1,357 -24.4 % 1,796 -7.5 % 1,467
Cost of sales and services were $5.4 million, compared to $4.3 million in the same period in 2015. The increase was mainly a result of the increased capacity of IPP solar parks during the second quarter of 2016.
Gross profit was $11.6 million, up 38.8% from $8.4 million in the same period in 2015. Gross margin increased to 68.2% from 66.2% in the same period in 2015 because of the higher percentage of revenue contribution from electricity sales, which had higher margin compared to system sales and others. The increase in percentage of electricity sales primarily came from increase in electricity sales in Japan.
Selling, general and administrative (“SG&A”) expenses were $6.8 million, up 21.4% from $5.6 million in the same period in 2015 due to the increased project financing activities in Japan.
Other operating income was $119 thousand, compared to $75 thousand in the same period of 2015. The increase in other operating income was due to land lease income during the second quarter of 2016.
Operating profit was $4.9 million in the second quarter of 2016, compared to $8.8 million in the same period in 2015. Included in the operating profit in the second quarter of 2015 was a $6.0 million reversal of tax provision of previously-recorded VAT and other tax provision.
Finance costs were $1.5 million, compared to $0.8 million in the same period of 2015. The increase in finance costs was primarily due to the increased average balance of bank loans in the second quarter in 2016.
Other non-operating expenses of $2.2 million mainly represented fair value changes of financial liabilities – FVTPL of US$1.4 million and loss from hedge ineffectiveness on cash flow hedge of $0.7 million – compared to other non-operating expenses of $1.9 million in the same period of 2015. These other non-operating expenses were primarily due to an increase of charges in fair value change as a result of increase in external financing as compared with the same period in 2015.
As a result of the above, the net loss for the second quarter of 2016 was $1.4 million, compared to a net profit of $8.8 million in the same period in 2015.
Basic and diluted loss per share was $0.004 compared to earnings per share of $0.02 in the same period in 2015. Basic and diluted loss per ADS were $0.03 compared to earnings per share of $0.18 in the same period in 2015.
Adjusted EBITDA was $8.6 million, compared to $4.5 million in the same period in 2015.
Pipeline Analysis
As of June 30, 2016, the Company owned and operated 133.1 MW of IPP assets, which remained at the same level as of the end of March 31, 2016. Including the recent acquisition of operating assets in the U.S. on July 15, 2016, among others, the Company’s total operating assets now stand at approximately 155 MW.
The Company had 27.9 MW of projects under construction as of June 30, 2016, compared to 24.1 MW under construction as of March 31, 2016. All of the 27.9 MW of projects under construction are located in Japan.
In total, the Company had 1.2 GW of projects in various stages of development as of June 30, 2016, which included the projects under construction described above as well as 232.3 MW of shovel-ready projects and more than 1.0 GW of projects in pipeline. This does not include any incremental opportunities associated with project opportunities in the U.S.
Balance Sheet and Liquidity
As of June 30, 2016, the Company had bank balances and cash of $37.0 million, trade receivables of $28.0 million and IPP solar park assets of $323.2 million. Total borrowing was $142.5 million, including $19.2 million of borrowing due within one year.

http://www.skysolargroup.com/

SPI 2016: Hanwha Q CELLS Completes Strong Q.ANTUM Portfolio with Monocrystalline Solar Module Series “Q.PEAK”

Q.PEAK Q.ANTUM modules reaching up to 370 Wp (72 cell) and 305Wp (60 cell) will be available starting from Q3 2017 and Q1 2017 respectively.

MiaSolé Announces New Products that Revolutionize Solar Industry – Next Generation, Flexible Ultra-light Solar Technology

New products will revolutionize the solar industry with flexible, thin, ultra-light, high efficiency, shatterproof modules, enabling solar anywhere

SolarEdge presents expanded PV solutions at Solar Power International

SolarEdge Technologies is showcasing at SPI its expanded PV solutions to further simplify PV installation.

Cross-Pacific partnership: Solar Solutions and Sky Energy to cooperate in business development in U.S. and South-East Asia

Solar Solutions -official supplier of AEG solar modules and of unique, patented Individual Module Monitoring technology for smart O&M- and award winning Indonesia-based solar module manufacturer Sky Energy announced today a strategic partnership aimed at developing their respective solar businesses in the U.S.A. and South-East Asia.

With 100 MW module and cell production capacity in Indonesia and part of Trinitan Group, Sky Energy relies on a wide expertise in manufacturing, project development and retail encompassing diverse renewable energy technologies. They have over the years developed lasting co-operations with important players such as Yamaha Motor and Hitachi High-Technologies. These co-operations have included solar power battery charging and water treatment. Certified ISO 9001, in 2015 Sky energy was awarded with the prestigious Indonesia Business Award.

Bringing to the international markets the quality and reliability of AEG photovoltaic modules, Solar Solutions is based in Germany and is further present in 16 countries worldwide. The AEG brand has a 130-year-track record of pioneering work in the electrical industry and sets today the pace of smart solar evolution by providing an integrated monitoring solution at module level (IMM, Individual Module Monitoring solution) for smart O&M which makes AEG solar modules the first on the market capable of diagnosing and more importantly communicating their own “health” and performance status.
Sky energy and Solar Solutions are to cooperate at different levels of the supply value chain, from sourcing to distribution.

“Our partners bring to the table a proven expertise and knowledge of the local markets. The cooperation with Sky energy will be a valuable resource for developing our activities in South-East Asia and the United States. We are constantly expanding our network of distribution partners worldwide to provide our customers with a reliable network to help them succeed in their projects – and in this sense the US is a market with huge potential”, so said Solar Solutions Managing Director Stuart Brannigan.

“We are very much looking forward to this cooperation. Sky Energy has a deep understanding of the South-East Asian market and we believe we can play a major role in bringing the quality of the AEG products to the largest number of customers across South-East Asia. Furthermore, both companies have a wide, varied and reliable network of contacts across the US and the mutual exploration of these contacts we believe will deliver strong growth in the US market.”, so said Director Strategic Business Developmentof Trinitan Group Ms. Kara Wu.
http://bit.ly/2cJzUxi

JinkoSolar modules to power Arc House at Solar Power International

JinkoSolar today announced that its wholly owned subsidiary, JinkoSolar (U.S.) Inc., in partnership with Green Builder Media, will showcase the Arc House, a small, smart, net-zero carbon footprint home at Solar Power International (SPI).

Emazys technologies in new collaboration With EKO Instruments

Danish solar PV testing entrepreneurs in collaboration with industry leading manufacturer of solar PV test equipment.

SMA celebrates its 35th anniversary and inaugurates the Günther Cramer solar academy

Under the motto “35 Years of SMA — A Vision Becomes Reality,” SMA Solar Technology AG (SMA) celebrated its 35th anniversary today with numerous guests from the worlds of business, academia and politics.

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