2j7YOwO
2j7YOwO
2j7YOwO
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
ENDNOTES 02 MARKET AND INDUSTRY TRENDS - SOLAR PV<br />
www.greentechmedia.com/articles/read/sunedison-looks-toreassure-investors-our-business-fundamentals-are-strong;<br />
Eric<br />
Wesoff, “SunEdison: A timeline of the biggest corporate implosion<br />
in US solar history,” Greentech Media, 7 March 2016, http://www.<br />
greentechmedia.com/articles/read/SunEdison-The-Biggest-<br />
Corporate-Implosion-in-US-Solar-History; Steven Davidoff<br />
Solomon, “The financial alchemy that’s choking SunEdison,”<br />
New York Times, corrected 17 March 2016, http://www.nytimes.<br />
com/2016/03/16/business/dealbook/the-financial-alchemythats-choking-sunedison.html?_r=1;<br />
Eric Wesoff, “Breaking:<br />
SunEdison just filed for Chapter 11 bankruptcy,” Greentech Media,<br />
21 April 2016, https://www.greentechmedia.com/articles/read/<br />
SunEdison-Just-Filed-For-Chapter-11-Bankruptcy.<br />
130 In addition to those in text, examples of mergers and acquisitions<br />
include: Solar Frontier (Japan), the second largest thin film<br />
module supplier, acquired the project pipeline of Gestamp Solar<br />
to enter the US market, from Eric Wesoff, “Solar Frontier acquires<br />
Gestamp’s 280MW US PV project pipeline,” Greentech Media,<br />
10 March 2015, http://www.greentechmedia.com/articles/read/<br />
Solar-Frontier-Acquires-Gestamps-280MW-US-PV-Project-<br />
Pipeline; SolarCity (US) acquired ISIOSS, a leading Mexican<br />
solar developer, to move into the Mexican market, from David<br />
Ferris, “SolarCity moves beyond US border with acquisition,”<br />
Environment & Energy News, 5 August 2015, http://www.<br />
eenews.net/energywire/2015/08/05/stories/1060023014, and<br />
from Christian Roselund, “SolarCity to slow growth and focus<br />
on cost reduction,” PV Magazine, 29 October 2015, http://www.<br />
pv-magazine.com/news/details/beitrag/solarcity-to-slowgrowth-and-focus-on-cost-reduction_100021788/;<br />
Hanwha<br />
Solar Holdings merged Hanwha SolarOne and Hanwha Q Cells<br />
Investment Co. to form Hanwha Q Cells, from Ehren Goossens,<br />
“Hanwha to sell NextEra solar panels in record 1.5-gigawatt<br />
deal,” 20 April 2015, http://www.renewableenergyworld.com/rea/<br />
news/article/2015/04/hanwha-to-sell-nextera-solar-panels-inrecord-1-5-gigawatt-deal?cmpid=SolarNL-Tuesday-April21-2015;<br />
Eric Wesoff, “Canadian Solar finally acquires Recurrent Energy<br />
for $265 million in cash,” Greentech Media, 2 February 2015,<br />
https://www.greentechmedia.com/articles/read/Canadian-<br />
Solar-Finally-Acquires-Recurrent-Energy-for-265-Million-Cash;<br />
Jennifer Runyon, “Duke Energy takes equity stake in REC Solar,<br />
embraces distributed generation,” Renewable Energy World, 9<br />
February 2015, http://www.renewableenergyworld.com/rea/<br />
news/article/2015/02/duke-energy-takes-equity-stake-in-recsolar-embraces-distributed-generation.<br />
Additional examples<br />
of partnerships from the following: Shubhankar Chakravorty,<br />
“SunPower, Apple to build solar projects in China,” Reuters, 17<br />
April 2015, http://planetark.org/wen/73070; Andrew Burger,<br />
“US, China solar PV players team up, Invest $100M in Chile,<br />
Uruguay and Japan,” Renewable Energy World, 23 September<br />
2015, http://www.renewableenergyworld.com/articles/2015/09/<br />
us-china-solar-pv-players-team-up-invest-100mm-in-chileuruguay-and-japan.html;<br />
Doug Young, “New energy: solar<br />
finance entices, frustrates plant builders,” Young China<br />
Biz, 13 February 2015, http://www.youngchinabiz.com/en/<br />
new-energy-solar-finance-entices-frustrates-plant-builders/.<br />
131 Eric Wesoff, “Breaking: Shunfeng acquires majority stake in US<br />
solar manufacturer Suniva for $57 million,” Greentech Media, 12<br />
August 2015, http://www.greentechmedia.com/articles/read/<br />
Breaking-Shunfeng-Acquires-Majority-Stake-in-US-Solar-<br />
Manufacturer-Suniva; Liu Yuanyuan, “Developing trends in<br />
China’s solar PV industry for 2016,” Renewable Energy World,<br />
10 March 2016, http://www.renewableenergyworld.com/<br />
articles/2016/03/developing-trends-in-china-s-pv-industryfor-2016.html.<br />
132 Doug Young, “Canadian Solar charges plant unit, Jumei looks<br />
homeward,” Renewable Energy World, 19 February 2016,<br />
http://www.renewableenergyworld.com/ugc/blogs/2016/02/<br />
canadian_solar_charg.html; Doug Young, “New energy: Solar<br />
Shift in new financing for Canadian Solar, Trina,” Young China<br />
Biz, 30 October 2015, http://www.youngchinabiz.com/en/<br />
new-energy-solar-shift-in-new-financing-for-candian-solar-trina/.<br />
133 The aim was to tap into high-demand regions with higher risk<br />
and thus higher cost of capital, from Stephen Lacey, “SunPower<br />
investing ‘significantly and aggressively’ to scale Cogenra’s novel<br />
solar production line,” Greentech Media, 24 November 2015,<br />
http://www.greentechmedia.com/articles/read/SunPower-<br />
Integrates-Cogenras-Novel-Solar-Manufacturing-Technique.<br />
134 Alex Nussbaum, “Chinese solar to jump fourfold by 2020,<br />
official tells Xinhua,” Renewable Energy World, 14 October 2015,<br />
http://www.renewableenergyworld.com/articles/2015/10/<br />
chinese-solar-to-jump-fourfold-by-2020-official-tells-xinhua.<br />
135 Cedric Brehaut, “Utility-scale PV O&M: a crowded vendor<br />
landscape,” Greentech Media, 2 December 2014, https://<br />
www.greentechmedia.com/articles/read/utility-scale-pv-oma-crowded-vendor-landscape;<br />
Ioannis-Thomas Theologitis,<br />
SolarPower Europe, personal communication with REN21, 17 April<br />
2016.<br />
136 Christian Roselund, “First Solar reaches 5 GW of solar assets<br />
under O&M contracts,” PV Magazine, 10 March 2016, http://www.<br />
pv-magazine.com/archive/articles/beitrag/first-solar-reaches-5-<br />
gw-of-solar-assets-under-om-contracts_100023642/; Brehaut,<br />
op. cit. note 135.<br />
137 Theologitis, op. cit. note 135.<br />
138 Warranty coverage from Glenna R. Wiseman, “Defining an<br />
industry: solar PV operations & maintenance versus asset<br />
management,” Renewable Energy World, 7 March 2014, http://<br />
www.renewableenergyworld.com/articles/2014/03/definingan-industry-solar-pv-operations-maintenance-versus-assetmanagement.html;<br />
construction slows from Mike Munsell,<br />
“Global megawatt-scale PV O&M market to surpass 488 GW<br />
by 2020,” Greentech Media, 23 November 2015, https://www.<br />
greentechmedia.com/articles/read/global-megawatt-scale-pvom-market-to-surpass-390-gw-by-2020.<br />
139 Figure of 130 GW from Theologitis, op. cit. 135, and from<br />
Greentech Media, cited in “O&M market to triple in next five<br />
years,” PV Insider, 9 December 2015, http://analysis.pv-insider.<br />
com/us-install-record-15-gw-2016-global-om-market-triple-2020.<br />
140 Cedric Brehaut, “The growing split between solar operations<br />
and maintenance,” Greentech Media, 21 January 2016, http://<br />
www.greentechmedia.com/articles/read/The-Growing-Split-<br />
Between-Solar-Operations-and-Maintenance; the rate of<br />
occurrence differs by country, with the trend most obvious in<br />
Germany and the United States, from idem; Cedric Brehaut,<br />
“The fastest-growing vendor category in solar O&M: affiliated<br />
service providers,” Greentech Media, 2 December 2015, https://<br />
www.greentechmedia.com/articles/read/The-Fastest-Growing-<br />
Vendor-Category-in-Solar-OM-Affiliated-Service-Provid.<br />
141 “SoftBank, Sharp team on plant installation, maintenance,” Nikkei<br />
Asian Review, 29 October 2015, http://asia.nikkei.com/Business/<br />
Companies/SoftBank-Sharp-team-on-plant-installationmaintenance;<br />
Christopher Martin, “SolarCity offering rooftop<br />
solar power to DirecTV customers,” Renewable Energy World,<br />
11 March 2015, http://www.renewableenergyworld.com/rea/<br />
news/article/2015/03/solarcity-offering-rooftop-solar-powerto-directv-customers;<br />
SolarCity’s partnership with Nest is “a<br />
sign that two major trends of the decade – distributed solar<br />
power and the connected home – are starting to combine in<br />
ways that make them greater than the sum of their parts,” from<br />
David Ferris, “SolarCity and Nest offer a glimpse of the future,”<br />
Environment & Energy News, 14 April 2015, http://www.eenews.<br />
net/energywire/2015/04/14/stories/1060016699; there are plans<br />
for major initiatives in Germany, the Netherlands and the United<br />
Kingdom, from “Sungevity leaves Australian solar market,” PV<br />
Insider, 6 August 2015, http://analysis.pv-insider.com/pv-nearsdisplacement-price-india-forecast-hiked-sungevity-exitsaustralia;<br />
Diarmaid Williams, “E.ON and Sungevity announce<br />
‘Go Solar’ programme,” COSPP, 30 July 2015, http://www.cospp.<br />
com/articles/2015/07/e-on-and-sungevity-announce-go-solarprogramme.html.<br />
142 Junko Movellan, “Post-FIT Japan: manufacturers promote PV<br />
systems with inverter-integrated energy storage systems,”<br />
Renewable Energy World, 19 March 2015, http://www.<br />
renewableenergyworld.com/rea/news/article/2015/03/<br />
post-fit-japan-manufacturers-promote-pv-systems-withinverter-integrated-energy-storage-systems;<br />
Meg Cichon,<br />
“Leasing option now available for Solar Plus flow battery energy<br />
storage systems,” Renewable Energy World, 26 February<br />
2015, http://www.renewableenergyworld.com/rea/news/<br />
article/2015/02/leasing-option-now-available-for-solar-plusflow-battery-energy-storage-systems;<br />
Australian Renewable<br />
Energy Agency, “Residential rooftop solar with battery storage<br />
a step closer,” 17 March 2015, http://arena.gov.au/media/<br />
residential-rooftop-solar-with-battery-storage-a-step-closer/.<br />
143 Raj Prabhu, Mercom Capital Group, cited in Katherine<br />
Steiner-Dicks, “Yieldcos require pipeline growth to<br />
recover from oil, fiscal policy impact,” PV Insider,<br />
220