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Solar Center for Excellence Launched

SolarTech, a collaborative industry initiative created by the Silicon Valley Leadership Group, announced the formation of the Solar Center for Excellence in Silicon Valley, a technical and educational resource focused on regional economic development and cost competitive solutions. The announcement was made in conjunction with the Energy Summit 2007, the purpose of which was to examine ways to make Silicon Valley the epicenter for solar energy, energy efficiency and clean energy technology. “The Solar Center for Excellence will be a catalyst for the solar industry in Silicon Valley to thrive and take its place next to high tech, biotech and life sciences as core economic sectors,” said Tom McCalmont, chairman of SolarTech and CEO of Campbell-based REgrid Power, a leading California solar integrator and charter member company of SolarTech. “In order to sustain the solar industry over the long term, the cost of solar-generated power must be competitive with the cost of conventional electricity,” McCalmont added. “The Solar Center will be a driving force for lowering costs and increasing photovoltaic, or PV, use in California. It will also provide access to training and certification for prospective and industry professionals.” The center will focus on resolving the complex technological, administrative and […]

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China: LDK Solar Raises $469M in IPO

China’s LDK Solar Company Ltd. (NYSE: LDK) raised $469 million in its IPO yesterday, with shares priced at the top of its forecast range. LDK makes wafers used in solar panels. The 17.38 million American depositary share offering sold for $27 per share compared with a $25-$27 forecast.

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Mitsubishi Electric Raises Solar Cell Efficiency

Mitsubishi Electric announced it has achieved a new record PV conversion efficiency rate of 18% for 150mm square multi-crystalline silicon solar cells. That’s an improvement of 1.2%. The results have been confirmed by public verification agency, National Institute of Advanced Industrial Science And Technology. Mitsubishi added a low reflectivity surface texture on the multi-crystalline silicon and developed a process to print electrodes on the surface of the silicon (metallization), while reducing shade loss of front grid electrodes. Using the same surface area as previous products, Mitsubishi has produced a 7% higher electrical output, making it possible for smaller installations such as narrow roofs. Mitsubishi will being mass producing the cells by year end.

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Gushan Environmental Energy Plans NASDAQ IPO

Chinese biodiesel producer Gushan Environmental Energy Ltd. is planning an IPO on NASDAQ later this year. The company expects to raise about $300 million. Its net profit is projected to hit $40 million in 2007, giving it a market cap of about $1.5 billion. Established in 2001, Gushan uses waste cooking oil as a feedstock. Headquartered in Hong Kong and with three manufacturing facilities, its annual production capacity is 170,000 tons. It has plans for two more factories. The total output of biodiesel projects under construction in China is over 3 million tons.

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Powerit Raises $7.1M

Powerit Holdings, a designer and manufacturer of a technology that automatically shuts off unnecessary energy use in factories and large commercial buildings has raised $7.1 million. Founded in 2001, Seattle-based Powerit’s technology can predict when energy shutdowns will be needed and alert users in advance. The investment round was led by venturecapital firms @Ventures and Expansion Capital Partners. Stellar Holdings, an existing investor also participated. “Demand control and demand response is a really fast-moving market right now,” said Rob Day, partner with @Ventures.

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