Articles from Asia
Japan has been undergoing a green boom. It's now rapidly turning into a fiasco as the cost proves prohibitive and utilities anticipate putting some nuclear reactors, shuttered since the March 2011 Fukushima disaster, back online. The unfolding green glut in Japan echoes similar experiences in Germany and Spain.
A spokesperson confirmed that SHI has shut down wind activities at its Hamburg and London offices, but denied that the company was pulling out of wind altogether. "We are now downsizing the [wind] business based on our new strategy."
CHINA: Sinovel is being sued by 12 subsidiaries of Huaneng Renewables in the Beijing No.1 Intermediate People's Court over an alleged breaking of contracts.
Okinawa Electric Power and Shikoku Electric Power have followed Kyushu Electric Power in temporarily halting grid-access applications for renewables projects, in the latest sign that Japan’s utilities are struggling to integrate solar and wind into their strained networks.
Kyushu Electric Power Co. (9508) will suspend responding to applications from renewable-energy producers applying to access its grid while it reviews how much more clean energy it’s capable of handling. The utility, which supplies power to the southern island of Kyushu, said the restriction begins tomorrow, according to a statement posted on its website. The decision doesn’t affect agreements already in place.
Authorities are trying to cut manufacturing scope in green-energy industries after overproduction caused equipment prices to tumble. Shang Fulin, chairman of the China Banking Regulatory Commission, said in March it will seek to limit lending that worsens overcapacity. The wind-turbine and solar-power industries face “relatively large pressure” from excessive production ability.
Coimbatore:Wind power production plunged to near nil on Tuesday in Coimbatore region as the industrial hub stares at yet another power crisis. The 5,300 windmills in Udumalpet produced just 2 mega watt of power on Tuesday, according to officials of Tangedco, the state power distribution agency.
Two years after a new feed-in tariff system for alternative energy went into effect, we discover that the promised power revolution looks more like an evolution
After six years, a federally funded wind turbine tower is months away from being built. The plan is to build one 233-foot-tall windmill tower in Yona, which will require a zoning variance to allow for the structure's height.
Sinovel Wind Group Co. (601558)’s bonds were suspended from trading today after the wind-turbine maker said losses widened almost sixfold. The company reported a loss of 3.45 billion yuan ($551 million) in 2013 versus 582.7 million yuan the previous year, according to a statement to the Shanghai stock exchange yesterday.
The problem is that the cost-plus tariff system rewards the most corrupt and inefficient proponents. The average is computed on the phony cost claims of such parties and becomes the order of the day. In Wind Power, this factor has come to pervade more so than in other cases. As a result, there is a huge difference between Wind Tariff in Pakistan and almost anywhere. ...The problem is that local professionals are themselves involved in the scam. Who would hire them, if they do not collaborate in the scam? ...What happens is that only the vested interest remains in the tariff award process. Third-party comments (interventions minus stamp paper) remain as a free advice to which nobody is obliged to respond.
“Even as the current wind power market rebounds slowly, industry competition is still very intense” so that manufacturing companies don’t have sufficient profitability, Ma Jinru, a Goldwind spokeswoman, said by email. ... “Companies with less competitive technology and quality will die and their market share will be carved up by several rivals.”
Sinovel Wind Group Co., a Chinese wind-turbine maker, plans to save as much as 2.63 billion yuan ($430 million) after canceling plans to build four wind manufacturing plants and scaling back three others. ...Sinovel is cutting spending as orders decline.
Suzlon has been trying to recoup $208 million from Big Sky for machines sold in 2009 and wrote down the value by Rs.400 crore last year. Big Sky was formerly owned by Edison Mission Group ...NRG Energy Inc. agreed in October to buy most assets of bankrupt Edison Mission. The Pune-based manufacturer sued Big Sky for payment in September 2012 in New York.
Loss-making Suzlon Energy's auditors have raised red flagged issues like the wind turbine maker's ability to generate adequate cash flow to support operations. Suzlon, grappling with tough business conditions, posted a consolidated net loss of Rs 1,075.25 crore in the three months ended December 2013.
“European conservationists generally consider the habitat loss associated with windmill development to be a greater threat to bird populations than collision fatalities.There is evidence that construction of windmills renders habitat unsuitable for birds as it has been found that grassland bird densities were higher on grasslands without wind turbines, than on areas with wind turbines."
Sinovel's shares on Monday fell 9.9% to 3.54 yuan (about 59 U.S. cents) on the Shanghai Stock Exchange. The company's shares have fallen 41% since it disclosed accounting irregularities in March. Sinovel said in March that it overstated its revenue by 10% and profits by 20% in 2011—its first year as a public company. Sinovel attributed the error to revenue it wasn't supposed to recognize for uncompleted projects.
China’s green crash is a textbook example of what happens when central planners substitute their economic decrees for the complex supply and demand decisions of a market. Compounding the missteps of China’s green planners was a belief that the West’s love affair with green power was here to stay, despite its higher cost and unreliability. Believing that it could meet the world’s surging demand for solar and wind power, the Chinese state – from the supreme planning agency, the National Development and Reform Commission down to city governments and state-owned banks – gave Chinese manufacturers near-monopoly powers and all-but-free money.
Japan set a new target for greenhouse gas emissions that critics say will set back United Nations talks for a treaty limiting fossil fuel emissions. The new target effectively reverses course from the goal set four years ago by allowing a 3.1 per cent increase in emissions from 1990 levels rather than seeking a 25 per cent cut.
"The decision has to be taken quite carefully as it is a big investment. We need to make sure the costs are fully understood," he said at the World Energy Congress in South Korea last week. Lancaster said more solid wind data would be required to confirm the project's economic feasibility, and that a couple more years of study were needed.