JAPAN RENEWABLE ENERGY PUSH CLEARS KEY HURDLE
TOKYO, Aug 23 (Reuters) - Japan's lower house of parliament passed a bill on Tuesday to promote investment in solar and other renewable energy sources as politicians took a step towards the prime minister's goal of reducing reliance on nuclear power.
Damage and the radiation leak at the tsunami-hit Fukushima Daiichi nuclear plant has shattered the public's confidence in the safety of atomic power and plunged the country's energy policy into disarray. Ahead of the disaster, Japan had planned to build enough reactors to raise nuclear power supply to meet 50 percent of demand by 2030 from 30 percent.
SUNTECH SEES SHIPMENTS UP, BUT AT A COST
BANGALORE, Aug 22 (Reuters) - China's Suntech Power Holdings Co Ltd joined some peers in signalling a rebound this year in a solar industry hammered by subsidy cuts in the world's two biggest markets, but a weak sales and margin outlook nudged its shares to a life-low.
A massive drop in prices forced the largest solar company by manufacturing capacity to again cut its full-year revenue outlook and warn that profit margins in the third quarter would narrow.
GERMAN RAIL TO RUN ON SUN, WIND TO KEEP CLIENTS HAPPY
BERLIN, Aug 22 (Reuters) - It won't be easy to run a national railway on renewable energy like wind, hydro and solar power but that is what Germany's Deutsche Bahn aims to do for one simple reason: it's what consumers want.
Deutsche Bahn [DBN.UL] says it wants to raise the percentage of wind, hydro and solar energy to power its trains from 20 percent now to 28 percent in 2014 and become carbon-free by 2050.
MITSUI, TOSHIBA PLAN JAPAN'S LARGEST SOLAR PLANT-NIKKEI
Aug 20 (Reuters) - Japan's Mitsui Chemicals Inc , Mitsui & Co and Toshiba Corp plan to construct the country's largest solar power facility with an output of 50,000 kilowatts (KW), the Nikkei business daily reported.
The project is in anticipation of the passage of a bill that will require utilities to purchase electricity from renewable sources at fixed rates, the paper said.
UK NAMES CHAIR FOR OFFSHORE WIND COST GROUP
LONDON, Aug 19 (Reuters) - The British energy minister on Friday appointed a director at Scottish Power Renewables to lead its task force on reducing the levelised cost of offshore wind to 100 pounds ($165) per megawatt-hour (MWh) by 2020.
Andrew Jamieson, regulation and markets director at Scottish Power Renewables and chair of green energy body RenewableUK, will head with immediate effect the government's working group to help industry bring down the cost of offshore wind.
CHINA SUNERGY CUTS FY SHIPMENT OUTLOOK
BANGALORE, Aug 19 (Reuters) - China Sunergy Co Ltd cut its full-year shipment outlook, prompted by lower shipments and selling prices in the second quarter, and the solar cell and module maker said it expects a further drop in the prices in the rest of the year.
China Sunergy's American Depository Shares (ADSs) fell as much as 5 percent to $1.20 -- a near three-week low -- in Friday early trading on Nasdaq. The stock has lost about 73 percent of its value in the last six months.
YINGLI GREEN Q2 BEATS STREET VIEW ON HIGHER SHIPMENTS
Aug 19 (Reuters) - Chinese solar panel maker Yingli Green Energy Holding Co Ltd reported a second-quarter profit that beat analysts' estimates as expansion in new markets drove shipments.
Net income rose to $58.1 million, or 36 cents per American depository share (ADS) from $32.1 million, or 21 cents per ADS, a year ago.
GREEN FIRMS FEEL PINCH OF ECONOMY WOES
LONDON, Aug 19 (Reuters) - Global economy woes which have gripped financial markets have made raising capital difficult again for some environmental technology firms, according to Vivek Tandon, co-founder of London-based Aloe Private Equity.
London-based Aloe Private Equity has 175 million euros ($253 million) of assets under management and now has three funds. Its investment portfolio includes 11 firms, mainly in the energy efficiency, renewable energy and recycling sectors.
THAI PTT, IRPC STUDY $200 MLN SOLAR POWER PLANT
BANGKOK, Aug 19 (Reuters) - Thailand's top energy firm, PTT Pcl , said on Friday it had signed an agreement with affiliate IRPC Pcl to look into investing about 6 billion baht ($200 million) in a solar power plant with capacity of 50-90 megawatts.
PTT said in a statement it would take six months to complete the study and it put the project in the context of its aim to secure long-term energy reserves for the country.
SOLAR FIRM STR SEES M&A AS CORE STRATEGY-CFO
BANGALORE, Aug 18 (Reuters) - Solar company STR Holdings Inc is looking to buy a competitor or a raw material manufacturer as it brings acquisitions into the heart of its business strategy.
"We are looking at acquisitions," Chief Financial Officer Barry Morris said in a telephone interview. "Before, we were a little more opportunistic, now it's definitely part of our core strategy."
CHINA MING YANG, CHINA WIND POWER INK WIND FARM DEAL
Aug 18 (Reuters) - Wind power producer China Wind Power International Corp said it signed an engineering contract with China Ming Yang Wind Power Ltd for the construction of its wind farm project in the Asian country.
Under the terms, Chinese wind turbine manufacturer Ming Yang will deliver and install 132 units of 1.5 megawatt (mw) wind turbine generators and provide engineering and construction management for the 198 mw-project.
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