Realforce Power completes 2.5-MW roof system in China
Realforce Power has completed a 2.5 MW roof system in an institute of technology located in Shandong province, China. The project will save at least 1,227 tons of standard coal annually and has become one of the biggest roof systems in China.
“We are glad to release this good news and share with people who are interested in the China PV industry and Realforce Power,” Realforce Power Chairman Bufeng Wang said. “Since our very first 1MW project in China in early 2009, Realforce Power has completed nearly 50MW projects throughout China and will make our contribution to the environment with more reliable Realforce-made solar products. Based on the advantages of our reputable cell and module production, we will continue to expand our business in solar power systems up to 1GW during the following 5 years, not only in China but also in overseas markets like Europe and the United States.”
Photon Finance, Island Pacific Energy, Pacific Energy Solutions win $500 million Naval solar power contract
Photon Finance LLC, Island Pacific Energy LLC and Pacific Energy Solutions LLC have received $500 million contract to develop distributed solar power systems on more than 11 naval facilities in Hawaii. Projects are expected to be issued within the next 12 months and completed by August 2016.
Under the agreement, the companies will design, construct, own, operate and maintain solar power systems on Navy rooftops, parking structures and vacant parcels of land. The Navy will purchase the solar generated electricity under 20-year power agreements. The projects are part of the Navy’s goal to achieve 50% total energy consumption from alternative sources by 2020.
“Photon is pleased to have been recognized by the Navy as having the proven expertise to develop third-party financed solar projects,” Photon Finance CEO Reid Rutherford said. “Solar is becoming more competitive yearly. Our innovative solar finance structures offer the Navy an excellent way to save money while reducing reliance on international energy sources.”
BofA Merrill Lynch to finance U.S. largest residential solar project
Bank of America Merrill Lynch will finance the largest residential solar power project to date, Project SolarStrong. The project is expected to create more than $1 billion in solar projects and 371 MW of new solar generation capacity through the installation of rooftop photovoltaic systems on up to 160,000 U.S. military residences on as many as 124 U.S. military bases in 33 states.
BofA Merrill has joined with SolarCity and U.S. Renewables Group on the project, which will create thousands of jobs and provide low-cost, renewable electricity, while avoiding the emission of over 250,000 metric tons of CO2 annually. The project will be financed by the private sector through a combination of debt and equity, and the U.S. Department of Energy’s Loan Programs Office has offered a conditional commitment for partial guarantee of a $344 million loan.
SolarCity will install, own and operate the rooftop solar installations. US Renewables Group subsidiary USRG Renewable Finance is acting as a lead lender, while BofA Merrill will provide debt financing for the project, as well as advisory and administrative services.
Trina Solar sets world record using new Honey technology
Trina Solar Limited has set a new world record for its laboratory-tested multicrystalline module power output using its ‘Honey’ technology platform. The results have been confirmed by TUV Rheinland, with a 156x156mm 60 cell module reaching 274 Watts peak.
“We are very pleased to demonstrate our technology leadership with this new world record,” Trina Solar Chairman and CEO Jifan Gao said. “This technological innovation will allow our customers to improve overall system costs and returns on investment.”
Arizona State University hits 10-MW solar-power generating capacity
Arizona State University has exceeded 10 MW of solar-energy capacity and became the only higher education institution in the United States to have a solar capacity of this size. This new 10-MW represents roughly 20% of ASU’s peak load and reduces its carbon footprint between 5%-10%.
“Surpassing 10 megawatts of solar energy capacity is a tremendous accomplishment for ASU and our partners,” ASU President Michael Crow said. “Over the years we have made several major commitments to sustainability, such as establishing the first school devoted to sustainability, raising awareness of how to live sustainable lives and finding ways to harness natural resources, like our abundance of sunshine. By doing these things, we are making a brighter future for ourselves and the place in which we live.”