WORLDNEWS
Results of positive growth
SunPower has announced financial results for its 2010 first quarter. Revenue for the 2010 first quarter was $347 million which compares to $212 million in the first quarter of 2009 and $548 million in the fourth quarter of 2009. The company’s Components and Systems segments accounted for 81% and 19% of first- quarter 2010 revenue, respectively.
“Our European residential and commercial business is growing rapidly and we continue to maintain our leading share of U.S. installed systems,” said Tom Werner, SunPower’s CEO. “With the completion of our SunRay acquisition, we are constructing more than 100 MW of power plants in Europe and expect to monetize these projects, along with our previously completed Montalto power plant, by the end of 2010 to 250 MW.
“Since all of SunPower’s high-efficiency solar panels we have increased our access to third-party supply to meet
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IQE provides for CPV
IQE has developed epitaxial processes for
producing high efficiency, triple junction concentrator photovoltaic (CPV) solar cells with comparable results on both 6 inch diameter germanium (Ge) and gallium arsenide (GaAs) substrates.
The Group, which has manufacturing sites across Europe, Asia, and the USA has been working with a number of key partners during the last two years to develop advanced, multi-junction solar technologies for the provision of large scale renewable energy.
Increased wafer sizes are an essential step in ensuring the provision of high quality and highly efficient solar power generation at lowest possible cost.
Current CPV technology is based on 4” diameter wafers but IQE’s new capability has demonstrated performance and excellent uniformity across 6” (150mm) diameter wafers.
Peak multi-sun device performance is the same for both types of substrate and approaches the best previously achieved on 4” substrates using the same process.
Dr. Drew Nelson, Group CEO and President said, “Delivering 6” diameter wafers for CPV applications is an important milestone for IQE and our experience as the world leading outsource manufacturer of GaAs based wafers has enabled us to develop the capability to produce multi-junction solar cells on both GaAs and Ge substrates with comparable results, fully scalable from our 4” process in terms of performance, uniformity, and yield.
“Our 6” CPV wafer products have generated a great deal of interest at both the cell supplier and systems-supplier level, and have demonstrated excellent performance and uniformities on which we will continue to build”
In addition to plant design, construction and commissioning, Belectric will also provide operations and maintenance (O&M) services for the plant. The Osiyan power plant will be the first utility-scale solar power plant commissioned by Belectric under India’s National Solar Mission. The 5MW solar power plant located in the Jodhpur District of Rajasthan will sit on 30 acres of land.
A total of 185 acres has been secured under a long term lease to allow for an additional 20MW build out in the future. The Osiyan plant is expected to bring over a hundred jobs to the local community and has the capacity to power approximately 13,000 homes.
“We look forward to commissioning this first 5MW PV plant in Rajasthan, which will serve as a foundational project in our partnership and in the build out of India’s solar industry,” stated Ameet Shah, Co-Chairman of Astonfield.
demand. We also announced our new SunPower Oasis Power Plant product, the industry’s first modular solar power block that scales from 1-MW distributed installations to large central station power plants,” concluded Werner.
For Q1 of 2010, SunPower reported gross margin of 20.7%, an operating loss of $2.9 million and net income per diluted share of $0.13. This compares to gross margin of 15.2%, an operating loss of $18 million and a net loss per diluted share of $0.12 in the first quarter of 2009. First quarter 2010 GAAP results include a $0.33 per share tax benefit.
On a non-GAAP basis for Q1 2010, SunPower reported a total gross margin of 22.5%. Operating income for the quarter was $13.5 million and net income per diluted share was $0.05. In Q1 2009, the company reported gross margin of 17.2%, an operating loss of $4.4 million and a net loss per diluted share of $0.09.
5MW plant for India
Astonfield Renewable Resources and Belectric are pleased to announce that they have entered into an agreement for the execution of Astonfield’s 5MW solar power plant in Osiyan, Rajasthan. The Osiyan project is one of several Astonfield plants expected to be approved under the Migration Phase of the Jawaharlal Nehru National Solar Mission and will be Astonfield’s first solar power plant to be commissioned and come online in FY2010-11. Belectric has already completed site designs and engineering on the plant. The construction will begin immediately following Migration approval.
www.solar-pv-management.com Issue III 2010
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