Tag Archives: UTI

PR Newswire

ReneSola Announces $40.0 Million Registered Direct Offering

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STAMFORD, CT, Jan. 8, 2021 — ReneSola Ltd ("ReneSola Power" or the "Company") (NYSE: SOL), a leading fully integrated solar project developer, today announced that it entered into securities purchase agreements with several institutional investors for the purchase and sale of 2.50 million of American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $16.00 per ADS, in a registered direct offering.  The registered direct offering is expected to close on or about January 11, 2021, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. 

The gross proceeds from the registered direct offering are expected to be $40.0 million before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds for expanding new solar project pipeline and general working capital need.

The securities described above are being offered pursuant to a "shelf" registration statement (File No. 333-240293) filed with the Securities and Exchange Commission (SEC) on August 3, 2020 and declared effective on August 11, 2020. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the securities will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering of the securities may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: placements@hcwco.com or by telephone: (646) 975-6996.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

Forward-Looking Statements

This press release contains statements that constitute ”forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "plans," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company’s expectations may not be correct, even though it believes that they are reasonable. Furthermore, the forward-looking statements are mainly related to our ability to complete the registered direct offering and satisfy the closing conditions related to the offering, the intended use of net proceeds from the registered direct offering, the Company’s continuing operations and you may not be able to compare such information with the Company’s past performance or results. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company’s situation may change in the future, except as required by law.

For investor and media inquiries, please contact:

In the United States:

ReneSola Ltd

Mr. Adam Krop

+1 (347) 577-9055 x115

IR.USA@renesolapower.com

 

The Blueshirt Group

Mr. Ralph Fong

+1 (415) 489-2195

ralph@blueshirtgroup.com

 

In China:

ReneSola Ltd

Ms. Ella Li

+86 (21) 6280-8070 x102

ir@renesolapower.com

 

The Blueshirt Group Asia

Mr. Gary Dvorchak, CFA

+86 (138) 1079-1480

gary@blueshirtgroup.com

 

 

Related Links :

http://www.renesolapower.com

PR Newswire

Iridium Edge® Solar Provides Upgraded Capabilities for Satellite IoT Tracking and Asset Management

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MCLEAN, Va., Jan. 5, 2021 — Iridium Communications Inc. (NASDAQ: IRDM) today announced commercial availability of the Iridium Edge Solar – a secure, maintenance-free, solar-powered remote asset tracking and management device. With over-the-air configuration capabilities, the Iridium Edge Solar is ideal for Vessel Monitoring Systems (VMS), fisheries management, tracking of freight shipping containers, Supervisory Control and Data Acquisition (SCADA) applications, monitoring of oil and gas pipelines and heavy equipment telematics data reporting. 

The Iridium Edge Solar beta trials, which are nearing completion, are thoroughly testing its real-time, two-way communication, over-the-air configuration ability, built-in Bluetooth Low Energy (BLE) connectivity and secure, ruggedized packaging. The addition of BLE technology enables development of customized deployable sensor systems that can be positioned on machinery, vehicles, vessels or across worksites. 

"The Iridium Edge Solar is a unique and versatile solar-powered asset tracking device, when compared to alternatives available in the industry," said Bryan Hartin, executive vice president, sales and marketing, Iridium. "No other solar-powered IoT tracking device matches its geographic coverage, capabilities and cost-effectiveness, and we believe the addition of BLE local wireless connectivity adds a new level of customizability for applications requiring multiple and disparate sensor readings."

The history of solar-powered satellite IoT tracking devices has been marred by questionable field lifespan due to failures of charging batteries, solar panels and packaging susceptible to water-intrusion or cracking.  These issues have been exacerbated by the lack of two-way communications with the deployed device, leaving organizations wondering if the equipment suffered a terminal malfunction.  Iridium Edge Solar resolves these issues through complete encapsulation of all vital electronics, military-grade ruggedized packaging and an innovative, intelligent dual-power system, ensuring two-way communications delivery even in low-light conditions. 

When combined with Iridium’s truly global coverage and services like Iridium CloudConnect helping to simplify back-office integration through Amazon Web Services, businesses, governments and NGOs can rapidly scale and deploy this reliable, solar-powered asset-tracking device anywhere on the planet for up to 10 years without maintenance. 

Iridium Edge Solar now joins both the Iridium Edge and Iridium Edge Pro as finished Iridium products, each with specified, yet complementary, use-cases to extend the reach of IoT services beyond cellular coverage. 

As of the third quarter of 2020, Iridium commercial IoT subscribers grew 20% from the year-ago period to 924,000 customers, continuing the company’s growing position as the premier satellite IoT company.

Interested companies can also request a full featured demo kit or more information by visiting www.iridium.com/iridiumedgesolar

About Iridium Communications Inc. 
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus®. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.

Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com 
+1 (703) 287-7421
Twitter: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570

Related Links :

http://www.iridium.com

PR Newswire

Hoymiles Launches S-Miles Cloud, New Powerful Real-time Solar Power Station Monitoring Platform on Mobile App and Browser

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HANGZHOU, China, Dec. 31, 2020 — Hoymiles Power Electronics Inc. ("Hoymiles"), a leading microinverter manufacturer, has recently unveiled the all-new S-Miles Cloud Platform for real-time visualized monitoring of solar power generating equipment. Key field equipment can be connected to the S-Miles Cloud Platform. With the IoT-supported data collection devices, the platform can track the output effectiveness of arrays, provide status updates on individual modules, and notify of any malfunctions.

Hoymiles New Solar Power Station Monitoring Platform - S-Miles Cloud
Hoymiles New Solar Power Station Monitoring Platform – S-Miles Cloud

"Our new and improved version of the monitoring platform is in line with Hoymiles’ mission to make electric energy ‘smarter’, improve cloud data processing capabilities and extend the data response time of edge computing gateways. Through providing a broad array of smart monitoring, operations-based, and maintenance functionality, we can provide more value for our customers, and that’s our main focus," said Zhao Yi, Deputy General Manager and R&D Center Director of Hoymiles.

Accessible as a mobile app or via a web browser, the S-Miles Cloud Platform offers a powerful and easy-to-use portal to effectively maintain solar power stations. Through the user-friendly installation process, integrating the Platform into an existing array can be quick and simple. The newly upgraded platform features a clean and simple dashboard interface which was designed with end-users in mind to allow for clearer visual data displays and additional options for in-depth analysis. The upgrade also includes a real-time progress tracking feature for hardware updates, which displays a progress bar and provides detailed explanations of any errors that occur.

Supporting the improved end-user display is an optimized technical structure that collects, analyzes and distributes data. The upgraded S-Miles Cloud Platform now can offer synchronized data analysis, and in being a cloud-based application, data processing is completed through parallel computing architecture which allows for optimal usage of all CPUs within the cluster and supports an open application programming interface for cross-platform communications, data sharing, and remote operation via TCP socket connection. The Platform is also compatible with Hoymiles’ newest and most advanced hardware offerings of the DTU-Pro, DTU-Lite and new Sub-1G version microinverters.

Through the standardization of data across a power station, operators can make more accurate data-driven decisions regarding onsite operations that enable optimized energy output. The new S-Miles Cloud Platform not only provides accurate and timely status reports but also includes new indicators to display self-generated energy inputs and output for the solar station, to more clearly map overall power generation status.

About Hoymiles

Founded in 2012, Hoymiles is one of the leading microinverter manufacturers providing MLPE (Module-Level Power Electronics) solutions for solar investors and end-users. Hoymiles’ microinverters (4 in 1 unit & 2 in 1 unit) are recognized for their technology, ranking as the top microinverter globally through CEC weighted efficiency test by CSA Group for three consecutive years.  Currently, Hoymiles’ microinverters are used in generous commercial and domestic rooftop installations in various countries and regions including America, Europe and Asia.

PR Newswire

JA Solar Supplied 88MW Modules for Indian Solar Plant Developed by Juniper

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BEIJING, Dec. 31, 2020 — JA Solar recently announced its supply of 88MW modules to Gujarat Urja Vikas Nigam Limited (GUVNL) project developed by Juniper, one of the largest PV project developers in the local market, which opens a new chapter for the two companies on cooperation.

Led by a team with significant experience in conceptualizing, building and developing renewable energy assets, Juniper is a renewable energy power producer and operator for solar projects. Based on the cooperation, the two sides intend to strengthen cooperation in the future to promote the development of PV industry in the Indian market.

Since its official entry into the Indian market in 2015, JA Solar has won high recognition in the local market and favored by many local PV project developers with its reliable product quality, stable financial advantages and solid industry reputation. Through close cooperation with local developers, JA Solar will further deepen localized operation and provide quality products and services to Indian customers.

Related Links :

https://www.jasolar.com/

PR Newswire

Inaugural Shanghai Electric Cup ‘Industrial App’ Awards Given to 16 Outstanding Entries, Empowering Digital Innovation for Energy Industry

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SHANGHAI, Dec. 31, 2020 — Shanghai Electric (the "Company") (SEHK: 02727, SSE: 601727), the world’s leading manufacturer and supplier of electric power generation equipment, industrial equipment and integration services, has recently concluded a five-month industrial innovation application competition. The inaugural ‘Shanghai Electric Cup’ was launched in July this year with the support of the Shanghai Municipal Commission of Economy and Informatization and the Shanghai Industrial Internet Association. Aimed at fostering an environment of digital innovation, the competition saw 140 entries from around the world take a total of 16 prizes.

The first time to organize this event, Shanghai Electric took the opportunity for the company’s internal and external teams to promote industrial innovation and accelerate digital transformation. The theme of the competition aimed to push applicants to develop practical applications for use in industrial settings, and called for a focus on connecting four concepts – smart cities, smart energy, smart manufacturing and smart transportation – four areas that outline the future direction of Shanghai Electric.

Of the 140 entries from domestic and international teams, the top three prizes were awarded to 16 projects, ten of which were from Shanghai Electric and six from other companies. The Company’s Central Research Institute signed project incubation agreements with four of the award-winning external teams. Shanghai Electric Digital Technology (SEDT) and other six companies reached an ecosystem cooperation agreement for SEunicloud, Shanghai Electric’s industrial internet platform.

About the competition and the unveiling of the winners, Shanghai Electric President, Huang Ou said, "On the path of improving our skills in 3D design and industrial applications, the extraordinary achievements of those participants we see in this year’s contest are the small steps in accelerating the digital transformation of Shanghai Electric, but those joint efforts have amounted to a huge step forward for the entire company."

"From digitizing product models to business models, this competition has laid the foundation for Shanghai Electric to build a new ecosystem for SEunicloud, as well as gathered a specialized team to speed up the digital transformation of our company," he added.

Also unveiled at the awards ceremony, the upgraded SEunicloud Industrial Internet Platform 2.0 revealed improvements in terms of the integration of Artificial Intelligence (AI), Business Intelligence (BI), and Creative Intelligence (CI). With these upgrades, the platform will further accelerate Shanghai Electric’s digital transformation and marks yet another substantial step forward in the construction of Shanghai Electric’s Industrial Internet.

The 2.0 release features a new AI big data module capable of providing data value displays and business analysis for a multitude of industrial scenarios. The upgraded Business Intelligence module utilizes fast data processing and visualization tools to produce intuitive displays and enable intelligent analysis across huge datasets. In addition, through an inbuilt visual development integrated system, the platform can be used as an InaaS (Innovation-as-a-Service) platform.

Shanghai Electric’s focus on digitization and development is reflected in a consistently high R&D investment rate of over 3.4%. This number is intended to be higher for development in new industries, predicted at an increase of 6% from 2019, and investment in pre-research and development which is expected to see an increase of 11%.

Related Links :

http://www.shanghai-electric.com

PR Newswire

JA Solar Signs Distribution Agreement with India’s Leading Distributor, Redington

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BEIJING, Dec. 25, 2020 — JA Solar, a leading manufacturer of high-performance solar products, and Redington, one of the leading distributors of PV products in India, today announced that they entered into a distribution agreement to further strengthen their cooperation to promote the development of rooftop PV projects in India.

India is one of the world’s largest PV markets, and the rooftop PV market in the country has also been growing rapidly in recent years. Small- and medium-sized rooftop projects have short construction periods and require timely supply of solar modules. To better serve its customers, Redington has set up more than 90 warehouses across India to quickly deliver products and services to local customers, bridging the "last mile" between the advanced PV products and those customers. With the cooperation agreement signed, the JA Solar modules will reach the customers’ project sites in a more timely manner through Redington’s broad distribution channels. This in turn enables customers to keep their projects on schedule, to ensure service quality, and effectively helps promote the development of the local rooftop PV market.

JA Solar entered the Indian market in 2015. Since then, the company has been highly recognized by the local market and favored by local distributors with its excellent product quality, strong financial position and solid industry reputation. Distributors play an important role in JA Solar’s sales and distribution process. Through close cooperation with local distributors, the company will further deepen localized operation and provide high-quality products and services to the Indian customers.

For more information contact:
Oriana Zhang
+86-10-6361888-1697
zhangbobo@jasolar.com 

Related Links :

https://www.jasolar.com/

PR Newswire

Delta’s Data Center Solutions Help Formosa Plastics Group (FPG) Create its New Energy-Efficient Backbone Enterprise Data Center

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TAIPEI, Dec. 23, 2020 — Delta, a global leader in power and thermal management solutions, today announced it has planned, designed and built the new energy-efficient backbone enterprise data center of Formosa Plastics Group (FPG), one of the world’s largest petrochemical conglomerates.  The aforementioned 750kW and 300 sqm data center in New Taipei City, which supports FPG’s IT operations and data centers around the world, leverages Delta’s energy-efficient modularized data center infrastructure solution and system integration capabilities to deliver a PUE (power usage effectiveness)  below 1.5, as well as up to 30% annual energy savings.

Madam Sandy R.Y. Wang, standing member of Formosa Plastics Group Executive Management Committee, chairperson of Formosa Biomedical Technology Corporation, underscored, "This new data center is the backbone of Formosa Plastics Group’s entire IT infrastructure spread abroad, and therefore, long-term reliability, flexibility for future expansion, and energy efficiency are our top requirements. Delta’s expertise and track-record in creating energy-efficient and resilient data centers were decisive factors within our decision process. With their tailor-made planning, design and implementation services, and the use of Formosa Biomedical’s battery technology, we now have an eco-friendly data center with a PUE below 1.5."

Mr. Victor Cheng, Delta’s senior vice president and general manager of its Information Communication Technology Infrastructure Business Group, said, "Collaborating with a world-class corporation like Formosa Plastics Group has been a highly rewarding experience for our entire team. Moreover, we have been able to fulfill their specific needs by providing a comprehensive solution that enables high efficiency in terms of power management, cooling, as well as remote management of the entire infrastructure and PUE with our DCIM platform. This success cements our unique track record in the data center field, where we have established the world’s first LEED v4 ID+C Platinum-certified data center in our Taipei HQs as well as our solutions implemented for global leading enterprises."

With the support of Delta’s solutions, the PUE of this facility is expected to maintain an eco-friendly level <1.5 and approximately 30% energy savings when compared to FPG’s older data centers. Delta’s data center infrastructure solution for this IT facility utilize a N+1 design that includes the 3-phase 120kVA NT series uninterruptible power supplies (UPS), which provides superior power protection and stability. In addition, a cold air aisle containment configuration was implemented by leveraging Delta’s 43kW RoWCool chilled water precision cooling units; the Environmental Monitoring System (EMS) provides a broad range of information regarding temperature and humidity even at rack level while Delta’s DCIM data center infrastructure management system provides the IT managers with real-time critical and comprehensive information regarding different layers of the data center.

Formosa Plastics Group was founded in 1958 and is one of the largest petrochemical conglomerates in the world. In addition to its main petrochemicals processing business, the group has other business segments, such as, electronics manufacturing, healthcare, biotechnology, automobile production, textiles and more. Its subsidiary Formosa Biomedical Technology Corporation develops new energy technologies, including a novel lithium iron battery module that could support UPS systems, DC chargers as well as energy storage systems.

About Delta

Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its CSR-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to CSR. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 10 consecutive years. In 2020, Delta was also honored with two "A" leadership level ratings by CDP for its substantial contribution to climate change and water security issues.

For detailed information about Delta, please visit: www.deltaww.com

Related Links :

http://www.deltaww.com

PR Newswire

ReneSola Power Announces $20.0 Million Registered Direct Offering

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STAMFORD, Conn., Dec. 23, 2020 — ReneSola Ltd ("ReneSola Power" or the "Company")  (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it entered into securities purchase agreements with several institutional investors for the purchase and sale of approximately 2.105 million of American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $9.50 per ADS, in a registered direct offering.  The registered direct offering is expected to close on or about December 28, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Roth Capital Partners is acting as financial advisor for the offering.

The gross proceeds from the registered direct offering are expected to be approximately $20.0 million before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds for expanding new solar project pipeline and general working capital need.

The securities described above are being offered pursuant to a "shelf" registration statement (File No. 333-240293) filed with the Securities and Exchange Commission (SEC) on August 3, 2020 and declared effective on August 11, 2020. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering of the securities will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering of the securities may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail: placements@hcwco.com or by telephone: (646) 975-6996.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

 Forward-Looking Statements

This press release contains statements that constitute ”forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "plans," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company’s expectations may not be correct, even though it believes that they are reasonable. Furthermore, the forward-looking statements are mainly related to our ability to complete the registered direct offering and satisfy the closing conditions related to the offering, the intended use of net proceeds from the registered direct offering, the Company’s continuing operations and you may not be able to compare such information with the Company’s past performance or results. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company’s situation may change in the future, except as required by law.

 

Related Links :

http://www.renesolapower.com

PR Newswire

ReneSola Power Announces Sale of 15.4 MW of Solar Assets in Romania

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STAMFORD, Conn., Dec. 23, 2020 — ReneSola Ltd (NYSE: SOL) ("ReneSola Power" or the "Company"), a leading fully-integrated solar project developer today announced that it entered into an agreement to sell two ground-mounted solar parks in Romania with a combined capacity of 15.4 MW to Alternus Energy Group plc, pan-European Independent Power Producer (IPP).

The two ground-mounted solar projects include a 9.4 MW solar park located in the municipality of Costestii din Vale in Dambovita county and a 6 MW solar park located in the municipality of Dumbrava in Prahova county. The 9.4 MW plant is operated by Ecosfer Energy SRL, and the 6 MW plant is operated by Lucas Est SRL. Both Ecosfer Energy and Lucas Est SRL are special purpose vehicles ("SPVs") that have been set up for the purpose of managing the construction and operation of the solar plants and the production of electricity.

Alternus Energy expects to acquire the project-based SPVs associated with the 15.4 MW operating assets, which are owned by Luxemburg-domiciled Renesola New Energy S.A.R.L, ReneSola Power’s subsidiary that holds the Company’s projects in Romania. Alternus Energy’s acquisition of those two projects will be funded by the proceeds from the senior secured green bond and equity that it has recently issued.

Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, commented, "We are excited to partner with Alternus Energy, and look forward to future collaboration. The proceeds from the sale of the operating assets will enable us to generate strong cash flow, realize profits and further strengthen our financial position. We have a strong pipeline of project activity. We look forward to pursuing other opportunities to develop, build and monetize solar projects globally, and believe our strategy resonates well with the development trend of solar energy."

Mr. Vincent Browne, Chief Executive Officer of Alternus Energy Group, commented, "The acquisition of these projects from Renesola Power will increase our existing presence in Romania where we have operated for over 6 years now. These solar parks form part of our immediate 109 MW expansion across Romania, Italy and Poland, bringing our total operating portfolio to nearly 140 MW with an additional 1GW of projects in identified pipeline today. This also marks our first transaction with the Renesola Power team, and we look forward to many more successful acquisitions from the team as they complete their current and future pipelines."

About ReneSola Power

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola Power (NYSE: SOL) is an international leading brand of solar project developer. Leveraging its global presence and solid experience in the industry, ReneSola Power is well positioned to develop green energy projects with attractive return around the world. For more information, please visit www.renesolapower.com.

About Alternus Energy Group plc

Alternus Energy Group plc is a pan-European IPP who owns and operates a portfolio of utility-scale solar photovoltaic parks that connect directly to national power grids. The company has operational solar parks in Germany, Italy, Romania, and the Netherlands. The company is headquartered in Dublin, Ireland. For more information, please visit www.alternusenergy.com

Related Links :

http://www.renesolapower.com

PR Newswire

Pipeotech’s Reach Goes Atomic

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TVEDESTRAND, Norway, Dec. 22, 2020 — Research facility European Spallation Source (ESS), the most powerful neutron source in the world, to use DeltaV-Seal

Norway’s Pipeotech has taken gasket tightness to new microscopic levels by going atomic as it is supplying its guaranteed leak-proof DeltaV-Seal to ESS, the world’s most powerful neutron source, in Lund, Sweden.

The new research facility is one of the largest and most advanced technology infrastructure projects being built anywhere in the world today and it will enable a more powerful range of experiments using neutrons than previously possible, providing a significant step forward in the science of everyday life.

Advanced research requires advanced tools and Pipeotech’s unique DeltaV-Seal will play an important role in this exciting new development.

When producing neutrons for research in a spallation process, ionising radiation is generated. For this reason, safety is always the top priority at ESS, and first and foremost is to meet all the requirements and safety regulations set out by the regulatory authorities.

The incredible guaranteed tightness and durability of the DeltaV-Seal are vital components in the safe and efficient running of the key water-cooling system in the ESS target area, where the water will become activated in the neutron production process.

Ionising radiation can cause a high attrition rate in polymeric seals and the fact Pipeotech’s gasket can be made in the same stainless steel material as its surroundings negates all galvanic corrosion in such a sensitive environment.

The seal also arrives having been extensively tested and type-approved so its 10-year warranty is especially useful for ESS as it seeks to avoid disruption, downtime and costly maintenance at the facility.

Molecular detail

Neutrons have been used in scientific studies since the 1930s as they can penetrate deeper than X-rays and can be used to analyse different structures and functions within a material at an atomic or molecular level in a `soft’ way, meaning samples are not altered or damaged.

This opens the door to a wide range of study areas, including in the fields of life sciences, materials science, experimental physics, nano-technology, cultural heritage and pharmaceuticals. Research using neutrons is being used today in the world to study Covid-19.

Funding of the new multi-disciplinary research facility ESS is provided by 13 member countries organised as a European Research Infrastructure Consortium, with Sweden hosting the facility and Denmark the data management centre, which is located in Copenhagen.

Hundreds of scientists from across Europe have been working in collaboration on the concept and design of the new facility. Building work in Lund began in 2014 and when the research facility starts operating in 2023 it will deliver 20 times more sensitive instrument performance on average than the current leading neutron sources.

Around two to three thousand guest scientists and researchers will carry out experiments each year using this powerful new tool to analyse basic atomic structures and forces, leading to many potential break-through discoveries.

Accelerating progress

ESS in Lund will be the world’s brightest neutron source, and is based on the most powerful linear proton accelerator ever built.  

The process to generate neutrons at ESS starts in the accelerator’s ion source, where rapidly varying electromagnetic fields heat hydrogen gas to `boil off’ the electrons from the hydrogen molecules. Hydrogen is the simplest element of nature and consists only of protons and electrons, so when the electrons have evaporated a plasma of protons remains.

The protons are guided from the ion source into a series of various types of accelerator cavities, using magnets to steer the beam. The protons are accelerated to about 96% the speed of light using electromagnetic fields as they are directed through the 602.5-metre accelerator towards their target.

That target is a 4.9-tonne, 2.6-metre diameter rotating wheel made of 7,000 neutron-rich heavy metal tungsten bricks encased in stainless steel shielding. The high-speed protons collide with the tungsten and split the nuclei, kicking out high-energy neutrons in the process known as spallation.

Those neutrons are then slowed to the speed of sound and guided through a fan of up to 42 beam ports towards a range of 15 tailor-made instruments, where the samples to be studied are placed for data to be collected for analysis.

When the heat is on

The target area inside the monolith, which contains almost 6,000 tonnes of shielding, poses some serious engineering challenges as ionising radiation and large amounts of heat are produced when the protons collide with the wheel and split the tungsten nuclei.

The tungsten target itself is cooled using a flowing helium gas system to keep it below 500 degrees Celsius, but the stainless steel shielding and the surrounding components and instruments are also affected by heat and are required to be water cooled at between room temperature and 60 degrees Celsius.

The intention is for neutron production to run 24/7 for about 5,400 hours a year at the facility and so any unscheduled maintenance will cause significant disruption for the researchers.

Trusted

It is therefore essential that the pipes carrying the water-cooling system are leak-proof and resistant, so the seals employed must display state-of-the-art tightness and be guaranteed trustworthy.

The safety and verification requirements are set out by the regulatory body, the Swedish Radiation Safety Authority, and the components and materials used at ESS have to comply with these requirements in order for the facility to get the licence to operate.

It is important for ESS to have a seal delivered that already has been tested so rigorously and comes as type-approved with verification from classification society DNV GL.

Pipeotech’s DeltaV-Seal is a solid piece of metal made in the same material as the stainless steel piping surroundings so it is immune to galvanic corrosion and can resist ionising radiation as it is non-organic, giving peace of mind when installed in a sensitive closed system.

ESS sources its seals indirectly through a supplier and has chosen Pipeotech’s DeltaV-Seal for the water-cooling system in the most challenging area for gaskets in the whole facility.

Extreme tightness, reliability and durability are all key factors in why the ESS has chosen Pipeotech. Leaks are simply not acceptable in this environment. The DeltaV-Seal can deliver such guaranteed tightness, though it may not be able to stop the news of its unique properties from disseminating out to other industries.

www.pipeotech.com

www.europeanspallationsource.se

For further details please contact:
Peter Barter
Head of Marketing
peter@pipeotech.com
+47 903 68 470
www.pipeotech.com
www.europeanspallationsource.se

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/pipeotech-as/r/pipeotech-s-reach-goes-atomic,c3260619

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