GCL, a Chinese polysilicon company, raises capital to support supply-side reform
GCL Technology, a Chinese company, announced on Tuesday its intention to issue shares in order to raise funds for supply-side changes to polysilicon. Polysilicon is a component of solar cells. GCL said it would use the estimated HK$3.505billion ($450.66m) proceeds from the share issuance to "establish a capital reserves for reforming the supply side in order to promote structural adjustment of the polysilicon production capability"…
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system…
Germany is planning to stop using fixed-term contracts for renewable energy installations
According to the Economy Ministry, Germany will no longer use long-term fixed-price contracts for buying power from new renewable energies installations. However, it will continue to support this sector. The critics of fixed feed-in rates say that they are too expensive for the government and energy consumers, and that renewable industries have been established enough to be subjected to market forces.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system…
China's fossil-fueled power generation in August rose to its highest level in decades
Data and records from the Statistics Bureau showed that China's fossil-fuelled electricity generation in August rose to its highest since at least 1998. This was to compensate for a fall in hydropower production to meet summer demands, according to data. The rise in demand was a result of China's most extreme summer ever, which increased air conditioning use.
SIX delists shares in Meyer Burger, a solar panel manufacturer.
The SER regulatory firm of the Swiss stock exchange operator SIX announced on Tuesday that it will delist Meyer Burger's registered shares after the solar panel manufacturer appears to be missing the deadline for submitting its annual report by 2024. SER said that the reasons for the delay in the annual report were not addressed and will likely not be resolved by the deadline requested, leading to a request to delist the shares.
US solar installation forecast slashed due to Trump policies, report says
A report released by a major trade group on Monday warned that the U.S. Solar Industry could install 27% less capacity in 2026- 2030 than it did before President Donald Trump passed his tax law, which rolled back subsidies to such projects. Why is it important? The Solar Energy Industries Association (the industry's leading U.S. trade group) and Wood Mackenzie's…
Robinhood joins S&P 500, a watershed moment in the US fintech industry
Robinhood Markets has replaced casino operator Caesars Entertainment on the S&P 500 benchmark. This is a significant moment for the Financial Technology sector, as the retail trading platforms joins the ranks with the most influential U.S. firms. S&P Dow Jones Indices announced the inclusion on Friday. This is expected to increase demand for Robinhood stock, as index-tracking fund managers adjust their holdings.
Georgia Power has received approval for 1,068MW of solar energy projects
Georgia Power, a unit of Southern Co, said that it received approval on Friday from the Georgia Public Service Commission to enter into five new power purchase agreements for solar sites totaling 1,068 Megawatts (MW). The new facilities are part of the Clean and Renewable Energy Subscription 2023 (CARES) program. This allows commercial and industrial clients to subscribe to renewable energies to improve sustainability efforts.
China solar stocks rise on hope of a turnaround
China solar stocks rose in Friday's trading after a polysilicon manufacturer said that the industry has reached its bottom. Regulators also called for additional measures to increase sector revenue. Silicon wafers, which convert sunlight into electricity, are made from polysilicon. The government campaign to curb excessive and unsustainable competition between…
Experts say that India's tax reduction on solar and wind energy devices will lower clean energy tariff.
India's decision on cutting taxes on solar and winds equipment will lower the costs of new plants, and pressurize existing project developers to reduce their tariffs. This will accelerate India's transition to renewable energy. On Wednesday, the government lowered the goods and service tax (GST), which was previously 12% on solar photovoltaic panels and wind turbine generators, to 5%.
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to cars, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%.
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to small vehicles, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%.
GCL China expects to receive more information on polysilicon soon
In a Sunday call with investors, a GCL Technology Holdings representative indicated that more information about a plan to restructure China’s polysilicon sector would be released shortly. In response to a query about an acquisition fund, GCL's Chief Finance Officer Yang Wenzhong stated that "we believe more information will be available soon regarding the…
After staff cuts, US Energy Data Agency delays reports on uranium and international outlook
Energy Statistics, the U.S. Government's arm that collects and analyzes data about energy, has seen its staff reduced this year. On Thursday, it announced it would delay publishing important energy data, including international outlook, as well as key energy information on uranium. An Energy Information Administration spokesperson said that the International Energy Outlook…
China's industrial profit continues to decline due to deflation and demand woes
China's industrial profit fell for the third consecutive month in August, as businesses struggled to cope with a subdued market and persistent deflation at the factory gate despite policies designed to support the economic recovery. Last month, exports exceeded expectations but a number of disappointing indicators has kept Beijing under pressure to provide more stimulus.
China's solar industry is suffering from a massive loss due to falling prices
Analysts say that restructuring the industry in order to reduce oversupply can help it return to profitability. Longi Green Energy, in a rare positive development, saw its net loss shrink to 2.6 billion Yuan ($364million) from 5.2 billion Yuan a few months earlier. Analysts at Huatai Securities in a note published on Monday attributed this improvement to "strengthened management", which led to lower costs and asset impairment losses.
Russell: China's thermal coal imports surge as India's tumble
In August, China's seaborne thermal coal imports are expected to reach their highest level this year while India's top buyers slump to a three-and-a half-year low. The two largest importers of this fuel, which is mainly used to generate electricity, have divergent trends. This is largely due to the interaction between coal production on their home markets and the increasing use of renewable energy.
EIA: Solar could account for 50% of the new US electricity generated this year
The Energy Information Administration reported on Wednesday that developers are on course to add 33 gigawatts (GW) of solar power this year in the U.S., which is about half the new electricity generation capacity planned for 2025. The EIA said that if the plans were realized, the additions of large-scale solar energy in the U.S. could reach a new record. It based its analyses on a survey conducted with developers.
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry…