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Mosaic strengthens executive bench for market expansion
Chief Credit Officer, General Counsel and Managing Director of Capital Markets join solar lender as company positions itself for rapid growth.
Etrion and Tamagawa Holdings announce signing of the project finance to build a 9.5 MW utility-scale solar project in Japan
Etrion and Tamagawa Holdings will build, own and operate the 9.5 MW Aomori solar
project in Japan with financing arranged by Sumitomo Mitsui Trust Bank
July 11, 2016, Miami, Florida and Tokyo, Japan Etrion Corporation
announced today the signing of project financing and
planned construction of the Aomori solar power project located in Misawa city in
the Aomori prefecture of the Tohoku region in Japan. Tamagawa Holdings Co.,
Ltd., was the initial developer and retains an interest in the project.
Financing was arranged by Sumitomo Mitsui Trust Bank, Limited.
Marco A. Northland, Etrions Chief Executive Officer, commented: I am delighted
to announce the closing of $29 million project financing for our 9.5 MW Aomori
PV project in Japan. This is our third utility-scale solar project in Japan. It
continues to demonstrate the excellent partnership with Hitachi High-Tech, who
will be building the project on behalf of the partnership. Aomori also
represents several important firsts for Etrion. It is our first project
involving a local developer, Tamagawa Holdings Co. Ltd. It will also be the
first project in Japan where Etrion will act as the Asset Manager, further
confirming the markets acceptance of Etrion as a reliable, best-in-class
Independent Power Produced (IPP), developer and owner. Japan continues to be our
main focus and I expect more projects to reach financial close in the near
future.
Aomori Solar Project (9.5 MW)
Aomori is a 9.5 MW utility-scale solar PV power plant to be built in Aomori
Prefecture of Japan. The project consists of four sites. Construction-related
works are expected to commence in July 2016 and the solar project is expected to
be fully operational by the third quarter of 2017. The solar power plants will
be built on 164 hectares of owned land and the facilities will connect through
the Tohoku Electric Power Co., Inc. utility (Tohoku Electric Power utility).
Each project will enter into a twenty year power purchase agreement (PPA) with
the Tohoku Electric Power utility and will receive ¥36 per kilowatt-hour (kWh)
produced (approximately US$0.35 per kWh).
Once operational, Aomori is expected to produce approximately 10.7 gigawatt
-hours (GWh) of solar electricity per year.
The total project cost will be financed approximately 85% through project debt
from SuMi Trust with a tenor equal to construction period and 19 years of
operations. The remaining approximate 15% equity portion will be funded pro-rata
based on the respective ownerships, with Etrion 60%, Tamagawa Holdings 30% and
Hitachi High-Tech 10%.
Japan is one of the largest solar PV markets in the world with over 36 gigawatts
(GW) of installed capacity and a national solar power target of 28 GW by 2020.
In 2012, Etrion and Hitachi High-Tech signed a development agreement to develop
a pipeline of solar assets in Japan. Under this agreement, both parties provide
the key functions necessary to successfully develop, build and operate solar
projects in Japan (including, but not limited to, obtaining the relevant permits
and authorizations to build and operate the solar power facilities, developing
relationships with local utilities and land owners, performing the EPC-related
services and providing O&M and asset management-related services). Aomori is
the third solar project to be built under this arrangement and the companies are
targeting to reach 100 MW either under construction or shovel-ready by the first
half of 2017.
SolarCity Launches Residential Service, Expands Hiring in Utah
SolarCity Corp. today announced that it has launched residential solar service in Utah, and is actively recruiting sales representatives, permitting and installation services roles in the Salt Lake Valley. SolarCity continues to seek applicants for more than 100 corporate support roles at its temporary offices downtown Salt Lake City and Draper. Construction of the new regional corporate headquarters in the Vista Station development in Draper is scheduled to be completed in December, 2016.
SolarCity’s solar power systems capture energy from the sun and convert it into electricity to power homes. Utah residents can buy their systems from SolarCity or choose 10-year or 20-year loan options with monthly payments starting as low as $50 per month. All options include design and local installation, monitoring and a performance guarantee. With the loan options, customers can prepay their entire balance or prepay a portion of their loan to lower their monthly payments at any time, with no fees or penalties. SolarCity will also provide and install a Nest Learning Thermostat at no additional cost for qualifying customers.
Utah is one of the fastest growing solar statesranked 7th in 2015, up from 31st in 2013according to 2015 U.S. Solar Market Insight report by GTM Research/SEIA. SolarCity made a long term commitment to the Beehive State last summer by announcing a regional corporate headquarters in Utah where the company plans to hire thousands over the next decade.
Geostellar Launches Nationwide Solar Program for Health Care System Facilities, Employees and Patients
Cleveland Clinic, Gundersen Health System, Providence Health & Services, and University Hospitals First to Promote Solar Energy through Health Care Without Harm, Practice Greenhealth Partnership
Sunpreme Partners with Sungage Financial to Facilitate Low-Cost Financing Solutions for Residential Solar Installers
Sungage Financial, a Massachusetts based provider of residential financial solutions for Solar, has added Sunpreme, a High-Performance Bifacial module manufacturer, to its approved vendor list.
Mumbai International Airport leads the way in energy conservation
· Citys most important institution will now contribute 1060 kWp of solar power · Annually, CSIA will generate 16.24 Lakh units of electricity · Reduction in1,330 tonnes of carbon emission annually In sync with the Government of Indias ambitious target of having 100 GW of solar power generation capacity by 2022, Mumbai International airport, one […]
sonnen Announces Commercial Energy Storage Solution in Partnership with Ideal Power
sonnen announces their expansion into the commercial and industrial energy storage market with the launch of the sonnenBatterie prousing Ideal Power’s highly efficient power conversion systems. As a part of sonnen’s smart energy product suite, the sonnenBatterie pro is an all-in-one smart energy management solution that maximizes energy savings for small businesses. Using sonnen’s proven self-learning software, the proreduces electricity costs by shaving peak demand, utilizes time-of-use electricity rates, helps solar-powered businesses use more of their self-generated solar and enables participation in utility demand response programs. Additionally, sonnen’s sophisticated self-learning and extensible software platform integrated into the pro enables businesses to future-proof their facilities against rising energy costs and energy uncertainty.
"sonnen’s smart energy management solutions are engineered with the best performing components, which is why we chose to integrate Ideal Power’s power conversion systems into the sonnenBatterie pro," said Boris von Bormann, CEO of sonnen, Inc. "Businesses are a key market for sonnen given the increasing amount of commercial solar installations and the growing cost of electricity. With the pro we are providing them with a reliable tool for understanding and better managing their facility’s energy usage both today and in the future."
The fully integrated sonnenBatterie pro system includes the Ideal Power inverter, durable battery modules with a 10,000 cycle lifetime, and a smart energy management. The sonnenBatterie pro is integrated with Ideal Power’s 30kW Power Conversion System, which is based on their patented and award-winning Power Packet Switching Architecture ("PPSA").Ideal Power’s power conversion systems are dramatically smaller, lighter, and easier to deploy compared to conventional systems and are ETL certified for UL1741 conformance. The modular sonnenBatterie pro scales from 18kW / 24 kWh up to 90kW / 240 kWh in a modular design and is available for shipping in late Q4 2016.
"sonnenBatterie is an industry leader in deployed energy storage systems and we are pleased to be powering the sonnenBatterie pro," said Ryan O’Keefe, Senior Vice President of Business Development at Ideal Power. "sonnen’s selection of our award-winning system for their entry into the North American commercial market is further validation of our technology and we look forward to a fruitful partnership."
sonnen’s existing products are currently installed in over 12,000 households globally and include the currently available sonnenBatterie eco, a robust residential smart energy management system that provides backup power, off-grid, solar self-consumption and time-of-use for smart homes. The recently released sonnenBatterie eco compact is sonnen’s solar battery power product that provides greater solar self-consumption and time-of-use management and is available for pre-order today with products shipping by the end of Q4 2016.
Watty announces EUR 3 million in funding from Cleantech Invest and EQT Ventures
Watty announces EUR 3 million in funding from Cleantech Invest and EQT Ventures
EasySolar colourful project management platform in version 2.0
EasySolar app changes the way solar reps and designers work moving project management, PV design and proposal generation beyond the walls of an office.
Photonics Sensor's Market is Expected to Reach $18 Billion by 2021 – Allied Market Research
According to a new report published by Allied Market Research, titled "world Photonic Sensors Market", The World photonic sensors market, is expected to garner revenue of $18 billion by 2021, registering a CAGR of 17.7% during the forecast period (2016 – 2021).
