Rudd Sets 2020 Renewable Energy Target for Australia

October 30, 2007 (The Australian) -A Rudd Labor Government will set a 20 per cent Renewable Energy Target for Australia to reach by 2020, Kevin Rudd said today. Under pressure over the blunder on the future of Kyoto, Mr Rudd today announced a policy that brings Australia into line with most developed nations including Europe, China and many American states.

Mr Rudd said a 20 per cent target was the equivalent of powering Australia’s 7.5 million homes for a year.

Labor’s 20 percent tops the Coalition’s target of 15 per cent.

Taiwanese Korean venture to set up $400MM solar wafer manufacturing facility

October 29. 2007 (The Economic Times) – An eight-member team from South Korea, Taiwan and Singapore and officials from Kolkata-based Synergy Renewable Energy (SREPL) on Friday met West Bengal’s chief minister Buddhadeb Bhattacharya and formalised an agreement to set up a $400-million joint venture project to manufacture solar wafer at Durgapur in West Bengal.

Solar wafers are used to manufacture solar panels and modules which go into generating electricity from sunlight. Under the agreement, a company christened Kits Solar, will be incorporated and registered in Kolkata with an authorised share capital of Rs 200 crore. It will be an 100% export-oriented unit.

‘Wall of money’ set to flow into Asian renewable energy

October 29, 2007 (FT.com) – Green investors, pension funds and private equity managers have a “wall of money” poised to flow into renewable energy ventures in Asia where demand for energy is growing exponentially, say observers. Investable opportunities may remain frustratingly elusive but the sector could soon explode into life.

Few doubt that sustainable energy in Asia could be lucrative, offer acceptably safe returns and be environmentally appealing with energy consumption in the region currently rising at almost 30 per cent a year – if regional authorities were not so focused on typically cheaper traditional fossil fuels.

Energy MOU on cards during Merkel’s visit to India

October 29, 2007 (Times of India) – Climate change and energy will be key elements of discussions between Germany and India when German chancellor Angela Merkel makes her maiden visit to the country between October 29-November 1. The two countries will also sign an MoU on energy efficiency and renewable energy with Germany committing 150 million euros.Germany has a pact with India on energy effiency under which it provides support to the Indian government on industrial and building energy efficiency.

Taiwan Government Dealing with Concerns from the Solar Industry

October 26, 2007 (Digitimes) – Taiwan’s Ministry of Economics Affairs (MOEA) has pledged its commitment to helping local photovoltaic (PV) industry players enjoy a better, or easier, business environment. The government organization recently held discussions with top representatives from PV companies in Taiwan and received positive feedback. The Taiwan government expressed its dedication to taking all raised concerns into account and pledged to look for appropriate measures to solve present barriers.

Singapore Lands World’s Largest Solar Manufacturing Plant (1.5GW)

Norway’s Renewable Energy Corporation (REC) announced yesterday that Singapore has been selected from over 200 potential sites for  a massive 1.5GW solar grade silicon manufacturing plant.  The investment is expected to total over 3 billion euros over the next 5 years and create over 2,000 jobs.  Most impressive is that the production capacity will reach three quarters of global solar energy output last year which can generate power for several million homes.  Read the full article here.

Suntech Signs $1.5B Deal for Silicon

In one of the largest deals ever for solar-grade silicon, Chinese solar titan Suntech Power Holdings said Thursday it struck a deal with Asia Silicon to buy up to $1.5 billion worth during a seven-year period.

October 25, 2007 (GreenTech Media) – Financial details are sparse and the company wouldn’t say how much silicon it expects to get from the agreement, or how many solar cells it would be able to make as a result.

Suntech (NYSE: STP) said only that Asia Silicon will start delivering the goods in the second half of 2008 and that the contract outlines silicon amounts to be delivered yearly, and sets prices to decrease each year.

The deal will result in the lowest prices Suntech has negotiated for silicon so far, the company said.

China Solar Power Enters Thin Film Solar Module Market in China by Forging Strategic Alliance with ULVAC Inc. of Japan

October 25, 2007 (Business Wire) – Charles E. Johnson, Managing Director of Tano China Capital Management, Inc. (TCCMI), announced today the signing of a three-way strategic alliance between its affiliates China Solar Power (Holdings) Ltd. (CSP), Tano China Private Equity Fund II (TCPEF II) and ULVAC Inc. of Japan. The parties signed a Strategic Alliance Agreement in Chigasaki, Japan on October 17, 2007. With the establishment of this strategic alliance, CSP enters the thin film solar module market in China by partnering with ULVAC, a leading manufacturer of thin film solar cell production lines (2.2 billion Yen annual revenue).

First Solar Expands into Malaysia

October 15, 2007 (Renewable Energy World) – An additional manufacturing plant in Malaysia with an annual nameplate production capacity of 120 MW is to be developed by First Solar, Inc. Representing an aggregate investment of approximately US$150 million, the new plant is scheduled to start production in the first half of 2009 and will be built adjacent to two previously announced plants currently under construction in Malaysia.

Together with the two additional manufacturing plants in Malaysia the total annual nameplate production capacity will reach 360 MW upon completion of all announced projects by the end of 2009.

Emissions cuts should be voluntary, says Yudhoyono

October 26, 2007 (Jakarta Post) – President Susilo Bambang Yudhoyono has maintained Indonesia’s stance that developing countries should reach emissions reduction targets voluntarily, despite objections aired by Australia and the United States.Yudhoyono made the statement on the first day of the two-day ministerial meeting ahead of the United Nations Framework Convention on Climate Change Conference in Bogor, West Java on Wednesday.

“The post-2012 regime should strengthen the commitment of developed countries to reduce their emissions. The major economic powers should be faithful to their commitments under the current and future climate regimes,” Yudhoyono said.

“Developing countries, on the other hand, should participate voluntary in reducing their national greenhouse gas emissions according to their national circumstances.”