Power & Energy Solutions

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Press Releases, Renewable News, Solar

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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Misc, Press Releases, Renewable News

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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Press Releases, Renewable News, Solar

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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Press Releases, Renewable News, Wind

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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Press Releases, Renewable News, Solar

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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Press Releases, Renewable News, Wind

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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Press Releases, Renewable News, Wind

Banks Renewables has welcomed the decision by the Scottish Government to approve its Lethans Wind Farm, near New Cumnock, following the earlier decision of East Ayrshire Council to support the application. Previously, the Hamilton based green energy employer undertook an extensive redesign of the project to reduce its potential visual impact on the local landscape, including the reduction in the number of turbines from 26 to 22. With an expected capacity of around 88MW, Lethans Wind Farm represents a major boost towards achieving Scotland’s ambitious green energy targets; but more importantly it will deliver significant social and economic benefits to people in East Ayrshire. Maya Hernes, the project coordinator for Lethans at Banks Renewables, said: “We are really pleased with this decision as we feel it reflects the high level of local support for the project, as well as the huge amount of time and effort the team has put into refining the proposals and working with the local communities. “We must also thank East Ayrshire Council for taking the time to fully consider the opportunities the project presents as well as the possible impacts in making a balanced decision to support it. “We are now looking forward to developing the Lethans Community Share offer,

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Press Releases, Renewable News, Solar

Isotrol consolidates its international leadership position in the clean energy market with the launch of Bluence, the new brand that the technology firm will use to market its product in this sector. The company has announced this launch in conjunction with the 2018 Wind Power tradeshow, event organized by the American Wind Energy Association that brings together investment funds, experts and technicians from the wind energy sector from May 7-10th in Chicago, Illinois, USA. According to Beltran Calvo, CEO of Isotrol “it is the moment to launch Bluence, a brand capable of representing the dimension and degree of specialization that the firm has reached in this sector”. Isotrol was founded in 1984, and, after its 34 years of experience, it has become one of the leading international players in the monitoring and control field of renewable energies. Currently, Isotrol’s systems are present in 35 countries, more than 1.500 power plants and control centers, that are currently used in the operation of 25 GW of electrical power worldwide. The new identity will carry the legacy that has propelled the technology firm to its current position. Beltran Calvo insists that the new brand will continue to use Isotrol’s decades of experience in

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Press Releases, Renewable News, Solar

As the solar market shifts towards new cost-effective platforms to maximize ROI and reduce CAPEX and OPEX costs, ABB Solar will be showcasing its highly-charged portfolio of inverter and storage solutions at this year’s Intersolar on 20-22 June in Munich, stand 210 Hall B2. Drawing on its 40-year heritage and its expansive global knowledge, ABB Solar will deliver a series of sun-to-socket innovations which bring together digitalization, scalability and efficiency. These new solutions provide the most comprehensive range of Solar products for power generation and building applications, along side future-proof solutions for solar and energy storage in residential sectors. The pioneering PVS string inverter range will take centre stage as it delivers a six-in-one, high voltage solution for both large-scale commercial and industrial ground mounted and rooftop applications. As part of its commitment to design products and solutions which bring down the whole system costs for solar installations, ABB will also launch to the market its 1500VDC high power string inverter with the highest power rating in this class. In line with market trends which are moving towards higher voltages and higher power classes / ratings, the PVS series enables installers to take advantage of greater performance efficiencies, scalability, flexibility,

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Press Releases, Renewable News, Wind

In a bid to harness opportunities in the wave and tidal market, The National Subsea Research Initiative (NSRI) is hosting aMasterminingTM workshop in Aberdeen on Wednesday 16 May for subsea supply chain companies. Scotland is playing a leading role in the commercialisation of wave and tidal stream energy, including via the European Marine Energy Centre in Orkney and the world’s first large-scale tidal stream array, MeyGen, in the Pentland Firth, which generated first power in 2016. The emerging sector is already generating significant commercial opportunities. More than £450m has been spent across the UK wave and tidal supply chain to date and the global industry is forecast to be worth up to £76bn by 2050, subject to successful commercialisation. The workshop – comprising speakers, case studies and technical sessions – is aimed at technical specialists, businesses and researchers within the subsea, wave and tidal communities and will draw upon research undertaken by NSRI and the Offshore Renewable Energy Catapult & Energy Technology Partnership to explore current and future technical challenges and commercial opportunities. Targeted at technical specialists, the workshop aims to explore the challenges and opportunities within the growing wave and tidal energy industry, increase supply chain awareness of opportunities in the sector and

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