Power & Energy Solutions

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As part of the optimisation programme regarding the Thun manufacturing site and the company’s product portfolio which was communicated on 2 November 2017, Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that it will transfer its Solar Systems business (“Energy Systems”) and the 32 impacted employees to 3S Solar Plus AG, a company which will be newly created and which has been sold to Dr Patrick Hofer-Noser. In the past few months Meyer Burger had evaluated various strategic options for the business which mainly addresses the Swiss market with its MegaSlate® products. The sale will result in a loss for Meyer Burger in the low single-digit million range including a goodwill recycling of around CHF 1 million. Completion of the contract which has been signed with Dr Patrick Hofer-Noser is subject to standard closing conditions and expected to be completed in the first half of 2018. Both parties have agreed to maintain confidentiality regarding the transaction price. Hans Brändle, CEO of Meyer Burger: “By selling the Solar Systems unit to Patrick Hofer-Noser, we have found an industrial and especially also local solution for the MegaSlate® business and the employees.” Patrick Hofer-Noser is a long-time, internationally respected specialist in the solar

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The First Corporate Bond to be Issued by a Non-Financial Institution in Ghana Ghana – May 10, 2018 – PIDG company GuarantCo has signed a deal with Quantum Terminals to support the operations of Quantum’s LPG storage business in Ghana. Quantum Terminals is issuing a GHS 45 million (USD 10 million), 10-year corporate bond on the Ghanaian Stock Exchange. The bond has a 75% partial credit guarantee from GuarantCo, for the benefit of pension fund investors that have subscribed to the issue. This is the first tranche of a GHS 140 million bond programme by the company. Quantum Terminals is the first non-financial institution to issue a corporate bond on the Ghana Fixed Income Market. The long tenor of 10 years is also a first in the Ghanaian corporate bond market. The local currency nature of the bond will allow Quantum Terminals to manage future exchange rate volatility. The bond’s innovative nature and ability to strengthen capital markets in Ghana is inextricably connected to GuarantCo’s mission, which is to support the development of capital markets and infrastructure in emerging and frontier markets, to assist with the alleviation of poverty. This bond issuance is expected to have significant demonstration effect in Ghana. GuarantCo CEO, Lasitha Perera

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The National Subsea Research Initiative (NSRI) has elected two new board members as it looks to expand its capabilities in the growing renewables, mining, defence and aquaculture sectors. Following a strategic review, NSRI identified the need to restructure in order to reflect the global energy transition. Although still heavily focused on the oil and gas market, the organisation will be looking to enhance its offerings to better support other offshore sectors. Simon Cheeseman, of the ORE Catapult and Claus Hjoerringgaard of Wood Clean Energy have joined the board of NSRI to support the organisation’s plans to support UK companies break into multiple energy markets. A former marine engineer, Mr Cheeseman joined the ORE Catapult in February 2014. He is responsible for managing the organisation’s marine renewables strategy, identifying the wave and tidal technology innovation needs. Previously, he worked with the Energy Technologies Institute, where he was marine programme manager for a range of high profile wave and tidal development projects. Mr Hjoerringgaard, currently managing director of Wood Clean Energy brings more than 25 years of experience having been involved in all aspects of commercial, technical and legal issues within the energy sector. Prior to joining Wood Clean Energy, he held a number of senior

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ACCIONA’s energy storage plant in Barasoain (Spain) is the first in the world to undergo comprehensive system-level certification DNV GL certificate demonstrates the safety, performance and reliability of the grid-scale energy storage system Certification was carried out in line with the GRIDSTOR Recommended Practice 9th May 2018. ACCIONA Energia, the biggest global operator exclusively in renewable energies, today received the first ever prototype certificate for a grid-scale energy storage solution by DNV GL, the world’s largest resource of independent energy experts and certification body. The handover of the certificate took place at the American Wind Energy Association’s 2018 Windpower Conference in Chicago. To explore the possibilities of grid-scale storage, ACCIONA Energia started up a hybrid plant for storing electricity in batteries as part of its grid-connected wind farm at Barasoain in Navarra, northern Spain. The plant in Barásoain is equipped with a storage system that consists of two batteries located in separate containers: one fast-response battery of 1 MW/0.39 MWh (capable of maintaining 1 MW of power for 20 minutes) and another slower-response battery with greater autonomy (0.7 MW/0.7 MWh, maintaining 0.7 MW for 1 hour). Both have Samsung SDI Li-ion technology connected to a 3-MW AW116/300 wind turbine of ACCIONA

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FREMONT, Calif. — May 9, 2018. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in PV inverters, power optimizers, and module-level monitoring services, today announced its financial results for the first quarter ended March 31, 2018. First Quarter 2018 Highlights  •    Total revenues of $209.9 million •    GAAP gross margin of 37.9% •    GAAP net diluted EPS of $0.75 •    Non-GAAP net diluted EPS of $0.87 •    800 Megawatts (AC) of inverters shipped “We are pleased to announce strong first quarter results with record revenues and record profitability, despite the traditional seasonal slowdown and continued industry wide components shortages,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “Our continued technological innovation and operational excellence, coupled with our introduction of new products and financial strength positions us for further growth and industry leadership.” First Quarter 2018 Summary  The Company reported record revenues of $209.9 million, up 11% from $189.3 million in the prior quarter and up 82% from $115.1 million year over year. GAAP gross margin reached 37.9%, up from 37.5%, in the prior quarter and up from 33.6% year over year. GAAP operating expenses was $38.8 million, up 7% from $36.4 million in the prior quarter and up 45% from $26.7 million year over year. GAAP operating income was $40.8 million,

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VARTA Storage UK Launch event scheduled for 6th June 2018 Ahead of the launch of the VARTA Pulse in the UK, Waxman Energy, specialist distributor in the renewable energies sector, held the very first VARTA Storage approved installer training in the UK on 2nd May at Waxman Energy Ltd, West Yorkshire. The next scheduled date is Thursday 7th June with subsequent dates to follow. As part of an exclusive agreement with VARTA Storage, the one day installer training is part of ongoing training sessions at Waxman Energy and covers the complete installation of the VARTA Pulse - a small, compact wall-mounted AC Coupled storage system for domestic use. Successful completion of the training will allow qualified electricians to competently install the home energy system, whilst gaining access to the VARTA Installer Network. VARTA’s Key Account Manager for the UK, Steve Saunders commented "Thanks to our exclusive partnership with Waxman Energy Ltd., VARTA Storage has taken the next step to launch the Pulse home energy storage system to the UK market. Successful operation of the system requires correct and safe installation of the device. We are preparing the installer network ready for the first installed Pulse energy storage system at the end of

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Significant investments in new products and expanded services will help customers raise solar cell performance and production processes to championship-level efficiency. SHANGHAI, China- May 9, 2018- Heraeus Photovoltaics, a leading technology solution provider for the renewable energy industry, will present an expanded portfolio of solar cell technologies and solutions at the 2018 SNEC International Photovoltaic Power Generation and Smart Energy Exhibition & Conference (Booth W3-510), taking place May 27-30 at the Shanghai New International Expo Center. The company’s new strategic focus represents a significant expansion to support the PV industry value chain. The long-time world leader in silver metallization paste, Heraeus Photovoltaics will unveil an expanded portfolio of silver metallization pastes, products and technical services to help PV customers succeed in the fast-moving solar and renewable energy markets. Andreas Liebheit, President of Heraeus Photovoltaics, stated: “We are expanding our expertise beyond paste. Our goal is to give customers a strong platform of integrated technologies, products and experts to help them get the most out of cell performance and their production processes.” The company’s expanded focus at SNEC 2018 is a continuation of its holistic approach that began last year. Significant investments in staffing, product development and new services were made to provide more

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Aberdeen, UK 9th May 2018 – Forum Energy Technologies, Inc. has delivered a Remotely Operated Vehicle (ROV) to the University of Limerick (UL) to support its research into subsea inspection and intervention campaigns on renewable energy sector infrastructure. Designed and manufactured in-house at Forum’s Kirkbymoorside Yorkshire facility, the Comanche 2,000 metre observation class ROV was officially launched at the docks in Limerick City by Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD. The Comanche ROV was selected due to its high thrust-to-drag ratio enabling it to operate in strong currents, typical conditions for the offshore renewables industry. The ROV is equipped to a high specification with precision positioning and navigation systems, camera and lighting systems and sonars. The systems will be used as a test bed for research to develop capabilities for inspection, maintenance and repair work on Marine Renewable Energy (MRE) infrastructure in the challenging strong wave and current conditions at MRE test-sites and offshore MRE sites in Ireland and further afield. The ROV system is home ported at Limerick Docks in the Republic of Ireland. Researchers at UL’s Centre for Robotics and Intelligence Systems (CRIS) further enhanced the system with UL-developed advanced

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Photon Energy published its financial results for 2018Q1, posting 33.3% revenue growth and a EUR 1.89 million net profit on the back of the Canadian Solar transaction. The repayment of the company’s corporate bond, the expansion of the Hungarian project pipeline to 25.6 MWp and the grid connection of the first PV plant in Hungary set the stage for a profitable 2018. Amsterdam, 9 May 2018 – Photon Energy NV (PEN) released its report for 2018Q1, announcing a 33,3% YOY revenue increase and a net profit of EUR 1.89 million in the seasonally weakest quarter of the year. The opening quarter was marked by the signing of a co-development financing agreement with Canadian Solar relating to five utility-scale solar projects in Australia with a planned installed capacity of 1.14 GWp, the expansion of its Hungarian project pipeline to 25.6 MWp, the commissioning of the company’s first PV power plant in Hungary and the repayment of the company’s corporate EUR bond 2013/18. Based on Photon Energy’s successful project development effort in Australia with the largest utility-scale solar project pipeline in the country and the continued expansion in Hungary, the company’s management is confident in continuing revenue and profitability growth in the quarters and

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The next walk-to-work Damen SOV now in build In a ceremony held last Friday, the keel-laying ceremony for Bibby Marine Services’ second Damen SOV (Service Operations Vessel) 9020 WaveMaster vessel took place at Damen Shipyards Galati, in Romania. This event takes place less than a year after Bibby Marine Services took delivery of its sister-ship Bibby Wavemaster 1. The new vessel is due for delivery in August 2019 and has been contracted by Siemens Gamesa Renewable Energy and EnBW for maintenance operations on two windfarms in German waters; Hohe See and Albatros, both owned by EnBW and Enbridge. The final name will be announced after a competition within Siemens Gamesa and EnBW, however it will continue to be part of the Bibby WaveMaster series. The SOV 9020 is a new class of purpose-built Service Operations Vessels (SOV) with Walk-to-Work (W2W) capability developed by Damen in consultation with the offshore renewables industry. The design is an entirely new concept from the ground up, combining DP2 capability, a new motion-compensated gangway, innovative hull design, a revolutionary internal layout, and a comprehensive range of additional innovations designed to increase efficiencies and reduce costs. Bibby Marine Services placed the order for Bibby Wavemaster 1 early in

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