I find it kinda strange that Suntech have stated that they having difficulty with the production of it's PLUTO cells, they could only get to 19% efficiency, was that the reason why they teamed with SILEX and the UNSW to get to 25+%?
we now see that they have secured $50 million in a loan to transition it to higher efficiency PLUTO to progress to grid parity, how are they going to do that when they can't get beyond 19% themselves?
"These additional funds will strengthen Suntech's financial position and support our transition to the high-efficiency Pluto technology as we progress toward our goal of providing grid parity solar solutions,
Suntech secures $50M loan with IFC June 30, 2009 - by Lisa Sibley, Cleantech Group
And then there is this also
Cleantech Forum New York
Wuxi, China-based silicon PV manufacturer plans to use new financing for its patent-pending Pluto technology and debt refinancing requirements.
Chinas Suntech Power Holdings (NYSE:STP) said today it signed a $50 million convertible loan agreement with the IFC, a member of the World Bank Group. Suntech is the worlds largest manufacturer of crystalline silicon photovoltaic (PV) modules.
The convertible loan, at a fixed rate of 5 percent per year, would be used to support Suntechs focus on its new Pluto technology and for debt refinancing requirements, according to a news release.
"These additional funds will strengthen Suntech's financial position and support our transition to the high-efficiency Pluto technology as we progress toward our goal of providing grid parity solar solutions, said Suntechs CEO Zhengrong Shi, in the release.
Suntechs patent-pending Pluto technology for crystalline silicon solar cells boosts power output by as much as 12 percent compared to conventional methods, the company said. Suntech has regional headquarters in China, Switzerland and San Francisco.
If its not converted, the loan is expected to be repayable in seven years. The company said it thinks it can satisfy loan conditions within the next 30 days. The loans conversion price is $18 per American depositary share.
Suntech is leading supplier to its native China, and is among the top contenders for a new 10 megawatt solar power station in Dunhuang, Gansu province, China (see Suntech among 50 global bids for solar project in China). The project, estimated at RMB 500 million ($73 million), is expected to be 70 percent traditional crystalline silicon solar panels with the remaining 30 percent made up of thin-film panels and concentrated solar PV.
In May, Suntech also announced plans to start manufacturing its crystalline silicon PV modules in the United States (see Chinese solar giant Suntech seeks base for US production).
Chinas Role in the Global PV Industry Monday, 19 July 2010 09:47 Cleantech, Applied
http://www.solarfeeds.com
Last week, I participated in the North American PV Fab Managers Forum, part of the Intersolar North America conference in San Francisco. One of the hot topics was the role of China in the photovoltaic (PV) industry. Asia in general and China in particular have come to be a major presence on the PV manufacturing scene.
Chris Hartshorn of Lux Research estimated that Asian factories now produce 78% of solar crystalline silicon wafers, 45% of solar cells based on silicon wafers, and 71% of finished PV modules.
Much of the resulting PV product is exported, in particular to major PV consuming markets in Europe and the U.S. A point of considerable discussion was whether this trend would continue to the detriment of PV manufacturing in Europe and the US.
In the words of some, how do we compete against them to assure that all PV products arent imported from abroad? It seems to me that while one might legitimately ponder the future of manufacturing in Europe and the US, the steady progression to grid parity i.e. driving the cost of solar-generated electricity down sufficiently to be broadly competitive with a widening portion of historical energy sources is the key next step in the evolution of the PV industry, and that this progression to grid parity will likely be an international endeavor.
Us versus them is trumped by the need for a singular focus on driving down solar costs, using the full global mosaic of resources available to do so. Applied Materials is supporting efforts to jump-start the re-emergence of a broad U.S.-based PV manufacturing sector. Clearly, comprehensive climate and energy legislation directed at accelerating the production and use of renewables in the U.S. would greatly aid these efforts. Meanwhile Applied is proud to list some 80 separate businesses on its solar customer list in China.
Selling world-class tools to those gutsy enough and perhaps just geographically lucky enough to buy them, is what we do.
China top-5 power distributors looking to step into thin-film PV segment Staff reporter, Taipei; Adam Hwang, DIGITIMES [Friday 19 June 2009]
The top-five state-run enterprises generating and distributing conventional electricity in China are all evaluating the feasibility of stepping into production of thin-film photovoltaic (PV) modules/systems due to strong incentives provided by the China government, according to industry sources in Taiwan.
The five enterprises are China Huaneng Group, China Huadian, China Datang, China Power Investment and State Grid of China, the sources indicated.
Two or three of the five enterprises have talked with two international suppliers of turnkey solutions for production of amorphous silicon thin-film PV modules, the sources noted.
In addition to offering a subsidization program for building-integrated PV (BIPV) installation projects, the China government has decided to offer a feed-in rate of 1.09 yuan (US$0.16) per kilowatt-hour for a 10MWp (megawatt-peak) PV power-generating station located in Dunhuang, northwestern China, the sources pointed out.
Related stories:
China provincial governments touting investment by Taiwan-based PV makers (Nov 26)
China government may cancel BIPV subsidization program (Nov 16)
Largest PV power project in China expected to reach IRR of 8%, says reports (Sep 24)
Local governments in China look to attract Taiwan thin-film PV makers (Aug 19)
China state-run firm to set up micro-Si thin-film PV line (Jul 29)
China government offers subsidies for PV power-generating projects (Jul 22)
Jiangsu to bring PV feed-in rates to China (Jul 3)
China reportedly planning to raise target for PV power-generating capacity (May 7)
Subsidiary of Taiwan maker applies for China PV subsidy (Apr 2)
China sets tentative subsidization plan for PV applications (Mar 27)
State-invested Yingli is strong candidate to win bid for solar power plant in China desert (Mar 27)
China government supports development of solar energy, but no timeline for subsidization (Mar 26)
China to set up first solar power plant in desert (Feb 23)
China government may subsidize local thin-film PV module industry, sources say (Feb 20)
And then I see this on Yahoo STP site, I can't find a link or reference to it yet, but I will keep trying, something big is about to happen IMHO.
Chinese govt pouring it on. 18-Jul-10 08:06 pm Monster loans.
7.33 billion US dollars for Suntech. 4.40 billion US dollars for Trina Solar. 5.30 billion US dollars for Yingli Solar.
Unbelievable! China wants to build monster-sized solar companies! Rating :
mlc178
SLX Price at posting:
$4.46 Sentiment: ST Buy Disclosure: Held
(20min delay)