GREEN DEALS: Australia's new solar player

Yingli Green Energy

The world's third largest solar manufacturer is setting up shop in Australia. China-based and NYSE-listed Yingli Green Energy has said it will open an office in Sydney to serve as its regional headquarters. With the unique claim to fame of being the first renewable energy company to sponsor the FIFA World Cup, the company sees Australia as a great place to further boost its global market share.

"Australia is one of the most promising markets in the solar industry,” Liansheng Miao, Chairman and CEO of Yingli, said. “We are happy to enhance our local presence by establishing this subsidiary, which will enable us to provide more convenient products and services to Australian customers.”

The new branch will also be looking at selling panels in New Zealand and the Pacific Islands.

Verve Energy, Warradarge wind farm

The timing of the 250 MW Warradarge wind farm in Western Australia is dependent on electricity demand, according to developer Verve Energy. The state-owned energy retailer has proposed to build the state's largest wind farm, with the $600 million development out-doing the 206 MW Collgar wind farm. The latter is a $750 million, 111-turbine development, with the Verve facility to have 100 turbines with a maximum capacity of 250 MW.

Verve told the ABC that the first stage of the project could be completed by 2014 if there is ample demand.

The state's premier, Colin Barnett, is sceptical about the speed of the project's progress.

"I do welcome development and expansion of wind farms, but I also suspect that this project is not likely to happen in the short-term," he said, according to the ABC.

CBD Energy

CBD Energy has signed its first commercial solar agreement in the US. The ASX-listed solar group announced a $3.8 million project in New Jersey, which will see it combine with Westinghouse Solar to build a solar system for a school. CBD said the news was an important milestone for the company as it looks to push into the US market in the wake of its merger with Westinghouse.

The project will take around three months to complete.

Vestas

A roller-coaster ride for investors in the world's biggest wind turbine maker on Monday, with first reports of a need for fresh capital from shareholders, then a report saying Chinese-based Ming Yang Wind Power would make a bid for the Danish firm and finally a denial of that rumour by Ming Yang. It all led to shares falling as much as 10 per cent early, before lifting close to 7 per cent and eventually settling down around 2.4 per cent. It was a similar story last night, with hope of a takeover offer seeing shares edge up on open before news of Ming Yang's lack of interest sunk in and the company's stock lost 5 per cent. With shares at an all-time low, perhaps a real offer may not be far away.

In truth, Ming Yang could present that real offer, as two separate Chinese news sources reported on Monday and Tuesday that a deal was on the cards before the end of the year. Ming Yang said it “had no plans to acquire Vestas at this stage,” but that's hardly a definitive dismissal of the rumours. The biggest hurdle however, is Ming Yang's size. With a market cap of around $150 million, it would surely find it hard to come up with the around $2 billion needed.

TRUenergy, CLP Holdings

Damage from the flooding of the Yallourn coal mine and associated power station is likely to have a significant impact on the profit of CLP Holdings, the Hong Kong-based parent company of TRUenergy. CLP said it would be a few weeks before the extent of the financial damage would be known, but it is expected to be material. In a rather odd sentence, the company said in a statement:

“Investors are advised to exercise caution in dealing in shares of CLP Holdings.”

I have never before heard a turn of phrase like that from a company and I'm not really sure what it means. Don't buy? Don't sell? Guess we will find out in a few weeks time.

GE

GE Solar has suspended construction of the world's largest solar production facility for at least a year and a half. The Colorado factory would have been used to make thin-film solar panels using technology from PrimeStar, a company GE Solar purchased last year, according to the Wall Street Journal. The move was blamed on falling module prices and the supply glut.

"We looked at where the industry is going and said, ‘We've got to be sure we are cost-competitive when we launch,'" GE CEO Jeffrey Immelt said, according to Reuters. "I think being in solar is a big part of GE's future, (but)… we need to get there at the right cost point."

Quick takes:

-- Panax Geothermal is looking to raise $1.6 million from shareholders for the “ongoing development” of its geothermal projects in Indonesia. The offer is at 0.7 cents per share, a 30 per cent discount to the last traded share price pre-offer, and the rights offer is partially underwritten by Patersons Securities.

-- Two more projects have been earmarked for funding under the Emerging Renewables Program. Energy Minister Martin Ferguson has said studies into producing renewable energy from almond waste and the potential for concentrated solar thermal technologies are the latest to benefit from the $100 million funding initiative.

The Almond Board of Australia will receive around $32,000 toward its $60,000 study into the viability of energy production from almond waste and the Australian Solar Thermal Energy Association will receive $85,000 to put toward its $170,000 study of the potential of solar thermal electricity in Australia's electricity market.