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Suntech Power to Buy $1.5B in Polysilicon

Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading manufacturer of photovoltaic (PV) cells and modules, has signed a contract to secure $1.5 billion of silicon over seven years. Asia Silicon Co., Ltd. will begin delivering the silicon in the second half of 2008. A predetermined annual price reduction curve will provide Suntech with polysilicon at prices lower than any of Suntech’s other contracts. “This contract with Asia Silicon will form a critical element of Suntech’s polysilicon supply portfolio as the average price paid under the contract is so low that we believe that it reflects what is essentially grid parity pricing for Suntech, when combined with our high efficiency solar cells and world class low cost of production,” said Dr. Zhengrong Shi, Suntech CEO. “We believe this is truly transformational, with the price decreasing to substantially below $40 per kilogram, as it enables Suntech to be at the forefront of leading the solar industry towards an environment without government subsidies or incentives.” Asia Silicon is building a state-of-the-art polysilicon plant in Qinghai, China with polysilicon production capacity targets of 2,000 metric tons by July of 2008 and over 6,000 metric tons by the end of 2010. Up to 80% […]

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Interface Reports Strong Q3 Results

Interface, Inc. (Nasdaq: IFSIA), the sustainability leader in floorcoverings, reported results for the third quarter ended September 30, 2007. Sales increased 19.3% to $279.5 million from the same period last year, while operating income rose 36.1% to $34.8 million, or 12.4% of sales – a record operating margin. Income from continuing operations was $15.2 million, another record high. Says CEO Daniel Hendrix, “Driven by the continuing strength of the corporate office market and our segmentation strategy, our modular business continued its strong performance in the period, as revenues grew more than 20% to record levels across each of our key geographic regions of the Americas, Europe and Asia-Pacific. As we enter the fourth quarter, which typically is our best quarter of the yearly cycle, I believe the opportunities for our business have never been better. Overall, we are growing our share in an expanding market, we continue to benefit from the secular shift toward modular applications through our segmentation strategy and from the penetration of carpet tile in emerging geographic markets, and we have a healthy backlog of orders.”

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Hoku Reports Q2 Results

Hoku Scientific, Inc. (NasdaqGM:HOKU), which calls itself a materials science company focused on clean energy technologies, announced its financial results for its second quarter ended September 30, 2007 and provided a general update on its business. Revenue was down for the quarter. It dropped to $239,000 compared to $1.9 million for same quarter last year. Hoku says the decrease is due to completed projects with deferred revenue. Net loss was $1.0 million, or $0.06 per diluted share, compared to GAAP net income of $303,000, or $0.02 per diluted share, for the same quarter in 2006. Based on its current outlook, Hoku expects revenue for the third quarter ending December 31, 2007 to be in the range of $1-$1.4 million. It expects that it will need to increase its efforts in supporting a polysilicon manufacturing and PV system installation service business, develop its products and expand its corporate infrastructure. As a result the Company expects its costs to continue to increase significantly and expects to continue to incur losses for the foreseeable future including for the third quarter ending December 31, 2007. During the period, Hoku: – signed engineering, procurement, and construction management contracts for its polysilicon plant — signed an […]

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A Bit of Good News on Emissions

Among what often seems like a relentless stream of dark news on the environmental front, a glimmer of hope could be seen yesterday in the Electric Power Annual 2006 report, released by the Energy Information Administration. U.S. emissions of carbon dioxide, sulfur dioxide and nitrogen oxides from electricity generation declined in 2006, according to the report. Sulfur dioxide emissions fell 7.9%, the largest drop since the 9.2% reduction in 2000. Carbon dioxide emissions fell 2.2%, and nitrogen oxides emissions were down 4.1%. The reductions are far from the marks needed to halt climate change, but demonstrate that even in a year when electricity usage went up, cleaner energy sources can make a difference. According to the report the main factors in emissions reductions from electricity generation included: decreases in overall generation from fossil fuels, like coal and petroleum, and increases in generation from nuclear, hydroelectricity and wind, all of which are emissions-free. The report also stated the retail price of electricity increased by more than 9% in 2006, the largest increase since 1981. As reported earlier this week, increased energy prices bode well for the solar industry, which has yet to contribute significantly to the nation’s clean energy mix, due […]

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Plan to Reduce Methane, Soot Emissions Could Save Polar Bears

The Center for Biological Diversity released a “Rapid Action Plan” on to address global warming. It calls for strong reductions in methane and black carbon emissions, pollutants with disproportionate impacts on the Arctic, as immediate measures to slow global-warming impacts alongside global reductions in CO2 emissions. The plan, titled “Not Too Late to Save the Polar Bear: A Rapid Action Plan to Address the Arctic Meltdown” was released in conjunction with a House Committee on Science and Technology hearing on the impacts of global warming on Arctic sea ice and the polar bear. Kassie Siegel, director of the Climate, Air and Energy Program at the Center for Biological Diversity, testified at the hearing. “The rapid melting of the Arctic should be seen as an early warning of the broader climate crises to come if the U.S. and the world do not respond to global warming with the necessary urgency. Instead, like beachgoers chasing the receding waters immediately prior to a tsunami to gather up the exposed shellfish, nations and industry are racing to the newly ice-free areas to stake claims for fossil fuels and shipping routes that would lead us further down the path to climate catastrophe.” Immediate reductions in […]

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PacifiCorp to Add 2000MW Wind

PacifiCorp, a six-state electric utility that operates as Rocky Mountain Power in eastern Idaho, announced it will add about 2,000MW of renewable energy, mostly from wind, over the next 10 years. Although the Idaho Public Utilities Commission (IPUC) has accepted PacifiCorp’s overall plan, it holds off judgement on the specific projects. PacifiCorp plans include 1,600MW of wind farms in Wyoming, Washington and Oregon. Website: [sorry this link is no longer available]     

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Green Groundswell on College Campuses

Colleges across the United States and Canada are stepping up green practices and policies, with more than two out of three schools improving performance over the last year, according to the new College Sustainability Report Card 2008. The results clearly show a “green groundswell” on campuses, with nearly 45% of colleges committing to fight climate change through cutting carbon emissions. Green building standards guide new construction at 59% of schools, while 42% use hybrid or electric vehicles. Further, 37% purchase renewable energy and 30% produce their own wind or solar energy. A substantial 70% buy from local farms and 64% serve fair trade coffee. While schools are earning higher marks for green initiatives in campus operations, a majority of the wealthiest institutions continue to lag in applying sustainability practices to their endowment investments. The categories with the lowest overall grades were Shareholder Engagement with 66% “Fs” and Endowment Transparency with 58% “Fs.” In contrast, failing grades averaged only 10% across the five campus categories of Administration, Climate Change & Energy, Food & Recycling, Green Building, and Transportation. “Colleges are rising to the sustainability challenge, but room for innovation remains,” said Mark Orlowski, Executive Director of the Sustainable Endowments Institute. “Many […]

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