Tag Archives: Solar PV

Google Invests $10m in South African Solar Project

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Mr Needham, director for energy and sustainability, said in a company blogpost the two factors which Google assesses when looking at sustainable investments are whether the investment makes economic sense and whether it will help drive other investments and “bolster the growth of the renewable energy industry and move the world closer to a clean energy future”.

Photo Credit: PV MagazineWhilst the director does not reveal the breakdown of Google’s investment, Bloomberg is reporting that the search engine will be one of the project’s equity investors, along with U.S. project developer SolarReserve; development partner Kensani Capital Investments; Intikon Energy; the state-owned Development Bank of Southern Africa; non-profit organization P.E.A.C.E.; and state pension fund Public Investment Group.

Bloomberg estimates the $260 million Jasper project is being funded by $65 million from equity partners and $195 million debt financing being led by the FirstRand Bank. The 96 MW scheme, near Postmasburg in the Northern Cape will be made using Yingli Green Energy panels.

Google is always eager to trumpet its investment in renewables with Reuters reporting it has funded $94 million of photovoltaic projects in California and launched a $280 million financing package with SolarCity to fund residential solar installations as well as acquiring a 49% stake in a German solar project in 2011. READ MORE

US mediates in EU-China solar trade spat

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US Solar Energy Industries Association (SEIA) has expressed its support for US government’s role as mediator in negotiations between the European Union and China to resolve anti-dumping case against Chinese manufacturers.

The US is rumoured to have brought to the negotiating table an offer to suspend its own duties on Chinese exports whilst setting a quota on Chinese exports and a minimum price for solar products, according to Bloomberg.

Carol Guthrie, US trade representative told PV-Tech: “Our goal is to support a healthy global solar industry in conditions that foster the adoption of renewable energy and continued innovation and a level playing field for all. Toward those ends, we will continue to work with industry and our trading partners to explore ways to resolve concerns.”   

Guthrie confirmed: “Active negotiations have not yet begun.”

Photo Credit: PV TechMichael Froman, a White House adviser and President Barack Obama’s nominee to head the US trade office, informed senators that the US is exploring talks with China and the EU, according to Bloomberg.

The US is looking to avoid giving Chinese producers a way to bypass paying taxes to the US by sending partially assembled solar equipment to the US and exporting to the EU thereby avoiding paying not only European but also US duties. 

However a spokesman for module manufacturer Trina Solar told PV-Tech that products from the US would “not offer the same benefit of cost rationalisations and economies of scale compared to Chinese producers. Also, these producers are increasingly attracted by growing demand in their neighbouring markets that is significantly stronger than in the EU.”

Importers of Chinese cells into the US have already been accused by the Coalition for American Solar Manufacturing, complainants in the US Department of Commerce’s case against Chinese manufacturers, of evading duties due to a loophole present in the US trade law which does not exist in EU law. READ MORE