Asian companies dominated the cleantech headlines this week .
One of the most significant stories is that fast-growing Chinese wind turbine maker A-Power Energy Generation Systems (Nasdaq: APWR) intends to add thin-film solar technolgy to its portfolio through the acquisition of Japan’s EVATECH Co., Ltd. A-Power signed a memorandum of understanding to acquire 100% of the company for $50 million in cash. EVATECH manufactures industrial equipment for LCDs and plasma display panels, but it also produces captial equipment for thin film solar panels.
South Korea’s Daewoo Shipbuilding & Marine Engineering Co. has agreed to buy U.S. wind turbine company DeWind, Inc. for $46.5 million. DeWind is owned by California-based Composite Technology Corporation (CTC) (OTCBB: CPTC). DeWind has two wind turbine models for commercial scale wind farms. Daewoo Shipbuilding & Marine did not say where it intends to manufacture the wind turbines. Composite Technologies said the sale of DeWind will allow the company to focus on its core business of electrical transmission products.
Japan’s Tokuyama Corporation (TKYMF.PK) has decided to build a new factory in Malaysia to manufacture polysilicon for the solar cell industry. To date, Tokuyama has manufactured and sold polysilicon primarily to the semiconductor industry. Construction of the new factory is expected to cost about $667 million and is scheduled for completion in 2013.
Canadian Solar (Nasdaq: CSIQ) announced a partnership with one of China’s largest power generation companies. The state-owned Guodian Power Development Co., Ltd. (600795.SS) wants to build up to 510 MW of photovoltaic power plants by 2012. The two companies will form a joint venture to develop the power plants, and Canadian Solar will have the first right to supply modules at market pricing for the projects.
Sanyo Electric Co. (6764.TO) plans to double its solar panel manufacturing capacity at one of its primary factories in Japan to about 200 megawatts (MW). The electronics giant will begin construction on an expansion facility next spring and expects to begin operations in March 2011. The company said demand for solar panels in Japan is on the rise, as a result of renewed government subsidies for residential solar power systems. The expansion is expected to boost Sanyo’s global panel production by about 30%.
Meanwhile, Germany’s Q-Cells (QCE.DE) is cutting back after another tough quarter. In the first six months of 2009, the company reported an operating loss of EUR 47.6 million compared to a profit of EUR 119.1 million in the same period a year ago. As a result, the company announced numerous strategic adjustments, including the shutdown of older, less-efficient production lines and the release of about 500 employees. The company also said it intends to focus more on its investments in thin-film solar companies Solibro and Calyxo.
In the U.S., Communications company Sprint (NYSE:S) announced that it is getting into the smart grid game by strengthening its technology portfolio. The company said it already works with utilities to provide automation within the energy and water industries. And through its Converged Network Services group, Sprint said it has the experience to design complex network solutions needed to meet the demanding requirements for smart grid applications.
Echelon Corporation (NASDAQ: ELON) announced that it has entered into a long-term agreement with Duke Energy (NYSE: DUK) to supply its Networked Energy Services (NES) system as a key part of Duke Energy’s smart grid rollouts in Ohio and Indiana. The initial order is worth $15.8 million dollars, but Echelon said the total revenue opportunity in the two states is more than $150 million. Duke is the third-largest U.S. power company, and has said it will eventually bring smart grid technology to its service areas in North Carolina, South Carolina and Kentucky as well.
Massachusetts-based Plankton Power announced the establishment of a public-private consortium to build an algae-to-biofuel pilot facility on Cape Cod. The Cape Cod Algae Biorefinery Consortium submitted a $20 million proposal to the U.S. Department of Energy to construct the proposed facility on five acres of land on the Massachusetts Military Reservation. Beginning in autumn 2010, Plankton Power said it expects to initiate pilot-scale operations to generate up to one million gallons of biodiesel per year. The company said commercial-scale operations on 100 acres could eventually yield 100 million gallons of biodiesel, which would meet 5% of the demand for diesel and home heating fuel in Massachusetts.
General Motors (NYSE: GE) said it’s highly anticipated plug-in hybrid vehicle the Chevrolet Volt is on track to achieve a fuel economy rating of 230 miles per gallon in city driving. GM said the Volt would get a "triple-digit" fuel economy rating for combined highway and city driving. The vehicle is still expected to go on sale in late 2010, and is designed to travel 40 miles on a lithium-ion battery pack before kicking in a small engine to recharge its batteries.
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