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REC Group 200 MW U.S. sales of brand-new TwinPeak 2S Mono 72 panels

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REC Group the largest European brand for solar photovoltaic (PV) panels, today announced that just days after beginning production of its newest half-cut monocrystalline PERC panels in December 2018, REC Group’s U.S. team secured orders for close to 200 MW of REC TwinPeak 2S Mono 72 Series, already committed for installations across the United States. With utility and community solar projects stretching from coast to coast, such initial order volumes are a clear testament to REC’s leading quality and reliability. The initial strong demand continues into early 2019 with U.S. orders for REC’s TwinPeak 2S Mono 72 panels now surpassing 200 MW.

“REC’s launch of two new panels with this mono-PERC technology has far exceeded our expectations. Longtime customers are thrilled with this addition to our product lineup and this is clearly reflected by the immediate orders in significant volumes,” said Cary Hayes, President REC Americas. “With the high-performance monocrystalline TwinPeak 2 panels, REC offers accelerated value to our customers. And as demonstrated during the N-Peak launch in June 2018, we have leveraged REC’s experience as a clear leader for half-cut cell technology to ensure our latest mono panels deliver superior aesthetics and improved performance to any installation.”

REC Group was the first manufacturer to introduce half-cut cell solar panels in mass production in 2014. To date, more than 2.2 GW of REC TwinPeak solar panels with half-cut cells have been installed around the globe. The U.S. represented roughly forty percent of REC Group’s global solar panel shipments in 2018 and continues to be the company’s key market.

REC’s new mono panels offer increased power output per square meter and improved performance in shaded conditions. This makes the 60-cell REC TwinPeak 2 Mono solar panels rated up to 320 Wp the perfect choice for residential and small commercial rooftop installations where high power is required in limited space or subject to partial shading. The lightweight REC TwinPeak 2S Mono 72 panels with up to 380 Wp enable large commercial and utility installations to benefit from the lower balance of system costs inherent in this 72-cell format.

Backed by REC’s new warranty covering both power output and panel construction, the monocrystalline TwinPeak panels deliver long-term reliability that outperforms standard panel yield in real-world conditions such as partial shading and elevated temperatures.

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Hitachi ABB Power Grids tracks Dublin’s data center surge via grid connections

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One gigawatt substation will support the city’s growing number of data centers to enable the new norm of remote working through efficient connections to electrical infrastructure

Hitachi ABB Power Grids has delivered a fully integrated, high-voltage substation close to Dublin’s digital business hub at Castlebagot, fast-tracking the standard two and a half year execution time to just 18 months, to keep the city’s growing number of large, increasingly important data centers running smoothly 24/7.

The project was commissioned by Ireland’s state-owned Electricity Supply Board (ESB) to meet Dublin’s recent, unprecedented upsurge in demand for electricity, due to the proliferation of new data centers. The project is the largest privately contracted substation development in Ireland to date. To ensure reliable supply to this booming industry, Hitachi ABB Power Grids has delivered a 220 kilovolt (kV)/110 kV substation with gas-insulated switchgear, including the protection and control SCADA system enabling an advanced power system management and monitoring of equipment status while in service. The gas insulated switchgear is a compact technology designed to minimize the substation’s foot-print, enabling space saving of up to 70 percent compared to air-insulated switchgear.

Dublin hosts some of the most important high-tech firms in Europe, in addition to a wide range of thriving tech start-up and colocation services. Planners are currently processing applications for additional, major data centers that will more than double the city’s electricity consumption in the years ahead. With its state-of-the art efficient grid solutions, Hitachi ABB Power Grids is helping to optimize power consumption while maintaining quality of supply.

“We specialize in the prompt delivery of reliable, high-voltage grid connections that respond to the ever growing use of advanced solutions continuing to support people through the challenging times of the current global pandemic.Efficient connections to electrical infrastructure are more critical than ever,” says Niklas Persson, Managing Director of Grid Integration business unit at Hitachi ABB Power Grids. “We are proud to enable the transition to the new norm of connecting people, when disruption to working patterns has increased the demand for remote and digital services, by meeting the need for a stable power supply.”

The energization of the Castlebagot substation in such a short time is even more remarkable given the current demanding situation. Hitachi ABB Power Grids and ESB were able to overcome this challenge due to their digital capabilities which made it possible to energize the substation safely and sustainably, while ensuring business continuity.
Substations are the building blocks for any power grid and facilitate the effective integration of power from conventional and renewable generation sources, to efficiently transmit and distribute it to consumption centers.

Hitachi ABB Power Grids is fast becoming the leading supplier of grid and power quality solutions for data center grid connections for both utilities and data center owners worldwide and is helping cities around the world to meet the extensive power demands of large data center projects. For this project, early collaboration with ESB ensured a design that fulfilled the utility’s availability and reliability requirements. It enabled fast project execution, leveraging our vast knowledge of utility grid codes and connection practices in different countries.

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IPO Paves the Way for GoodWe’s Future Growth Strategy

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On Friday, GoodWe announced its initial public offering of its common stock and is now officially listed as a public limited company. The shares began trading on the Shanghai Stock Market on 04 September under stock code 688390.

At 8 AM on Friday morning, the famous gong in the Grand Hall of the Shanghai Stock Exchange sounded in honor of the Initial Public Offering of GoodWe. The ceremony was attended by leading figures of the solar industry and coincided with GoodWe’s 10th anniversary – 10 years marked by relentless hard work, continuous innovation and international success. The company executives look back on the 10-year success story and set their sights on future goals, enshrined in the company’s Corporate Growth Strategy.

“GoodWe has achieved consistent, continuous and sustainable growth for several years and has proven, year after year, that its financial success is a result of its step-by-step approach of strategic growth and consolidation. We have been working relentlessly for over ten years and have reached new frontiers. The IPO marks the beginning of a new chapter” said CEO Daniel Huang.

“GoodWe is a stable, bankable and sustainable company with a sound financial management strategy. We have achieved good results in a relatively short time and we are confident about the company’s future growth trajectory. At GoodWe we don’t wonder what the future holds, we shape the future with our actions and innovations” added Rong Shen, VP of International Sales. 

Milestones & Growth in 2019/2020

2020

  • Stock Listed – Shanghai Stock Exchange (“SHA688390”)
  • Ranked Global No. 1 Hybrid Inverter Supplier by Wood Mackenzie
  • 5 consecutive years of TÜV Rheinland All Quality Matters Award
  • First non-European inverter manufacturer to obtain the VDE-AR-N 4110-2018 certificate from TÜV Rheinland
  • Awarded “Top Brand PV Netherlands & Australia 2020” by EuPD Research

2019

  • New Global Headquarter in Suzhou Hi-Tech New District
  • GoodWe ranked Global Top 7 PV Inverter Brand by Wood Mackenzie and BloombergNEF, and ranked Global Top 4 PV String Inverter Brand by IHS Markit
  • Awarded “Top Brand PV Australia 2019” by EuPD Research

Future Business Strategy

Following its IPO, GoodWe’s Board of Executive Directors outlined the pillars of its Corporate Growth Strategy.

  • Leader in Storage

GoodWe is already the undisputed leader in the storage segment with 15% global market share and is currently ranked as the World’s No.1 residential hybrid inverter supplier by Wood Mackenzie. GoodWe will continue to expand its storage portfolio to include the latest innovations and continue leading the storage revolution. In 2020, GoodWe launched its SMART HOME solution, designed to give users maximum choice and flexibility. Further improvements in inverter technology and battery compatibility are expected in 2021 and 2022. GoodWe will continue to lead research efforts in SEMS energy applications to enable owners to benefit from timely automated energy choices based on real-time operating conditions and maximize use of clean energy. GoodWe will likewise lead research efforts aimed at implementing energy trading technologies enabling shared energy communities and zero-carbon future.

  • Pioneer of Global-Local Strategies

GoodWe has been operating continuously in over 80 countries and currently has offices and branches in 16 countries and also operates registered subsidiaries in the largest markets in the solar PV industry, including Germany, Australia, Korea and UK, with plans to expand this list to include the US and Japan, among many other countries. GoodWe maintains a strong local presence in every market with a robust network of sales, after-sales, technical and managerial staff employed locally. This enables the company to pay great attention to detail, not only on global market trends but also on local developments, policies and requirements. Following its IPO, the company has already implemented plans to expand its global reach with office premises in every major market while also increasing its localized presence to guarantee efficiency and quality of service worldwide. GoodWe has invested 160 million RMB in a new production line in its Guangde plant to match the growing demand from international markets and cater to the needs of each individual market in which the company operates.

  • Strength in Innovation & Development

GoodWe’s innovation is the result of continuous and persistent efforts from its 200+ R&D team. Over the course of the next few years GoodWe will increase funds directed at R&D operations and will expand its team and continue to provide the market with groundbreaking technologies aimed at improving energy efficiency and component resilience, as well as contributing to research in industrial automation and artificial intelligence. Over 200 million RMB will be invested in a brand new Smart Energy R&D building that will focus on developing cutting-edge technology.

  • Strength in Utility

The IPO marks GoodWe’s transition from stable, bankable company to a global multinational backed by international investors and heralds a new era of unlimited opportunities for the company and stakeholders alike. This makes GoodWe a trusted partner for utility-scale projects, where financial readiness is a key component. On top of that, the new HT Series, with current capacity of 100-136 kW will see new versions released up to 250 kW from 2021. The HT inverter seamlessly incorporates different sets of technical strengths intended to achieve higher savings in the installation, enhance productivity and diversify monitoring options, taking safety to the maximum possible level in accordance with the most demanding national standards.

GoodWe is committed to contributing to the development of PV technology and its recent IPO is a key event that is going to accelerate that process.

GoodWe Global Headquarters

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First Solar Commits to Powering 100% of Global Operations with Renewable Energy by 2028

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America’s largest solar company joins RE100, pledges to power U.S. operations with renewable energy by 2026

TEMPE, Ariz., Aug. 06, 2020 (GLOBE NEWSWIRE) — First Solar, Inc. (Nasdaq: FSLR) today announced a commitment to power 100 percent of its global photovoltaic (PV) solar manufacturing operations with renewable energy by 2028. As part of an interim goal, the company has pledged to transition its facilities in the United States to carbon-free electricity by 2026.

Lowest Carbon Solar

First Solar, Inc. today announced a commitment to power 100 percent of its global photovoltaic (PV) solar manufacturing operations with renewable energy by 2028. As part of an interim goal, the company has pledged to transition its facilities in the United States to carbon-free electricity by 2026.

The commitments, which cover the company’s Scope 1 and Scope 2 emissions, were announced as First Solar joined RE100, a global, collaborative initiative bringing together influential businesses committed to 100 percent renewable power. RE100 is led by international nonprofit the Climate Group in partnership with CDP.

“Making a credible commitment to go 100 percent renewable is not a decision we take lightly. It was essential for us to ensure that the promise that we make today is one that we can keep,” said Mark Widmar, chief executive officer, First Solar. “With this pledge, we will further lower our embodied carbon footprint, already the lowest in the industry, and move towards realizing the full promise of cleaner solar. We recognize that the solar manufacturing industry has a collective responsibility to set challenging decarbonization goals for itself, and we hope that our decision encourages other PV manufacturers to make their own commitments.”

The only American company among the world’s largest solar manufacturers, First Solar celebrated two decades since its founding in 1999 and has shipped over 25 gigawatts (GW)DC of PV modules to over 45 countries around the world. With facilities in the U.S., Malaysia, and Vietnam, First Solar exited 2019 with a total global annualized manufacturing capacity of 5.5GWDC. It is also the Western Hemisphere’s largest solar manufacturer, with a 1.9GWDC manufacturing footprint in Ohio.

“By relying on long-term, fixed-price renewable energy, we’re not only investing in reducing our exposure to energy price volatility, but we’re also investing in a sustainable energy future,” said Mike Koralewski, chief manufacturing operations officer, First Solar. “As part of our strategy, we will strive to support the delivery of additional renewable energy capacity, especially in emerging corporate renewables markets in Malaysia and Vietnam.”

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