First Solar to close manufacturing base in Frankfurt, Germany

As part of the restructure, First Solar will close its manufacturing operations in Frankfurt (Oder), Germany, in the fourth quarter of 2012. Additionally, First Solar will indefinitely idle four production lines at its manufacturing center in Kulim, Malaysia, on May 1, 2012. The actions, combined with other personnel reductions in Europe and the US, will reduce First Solar’s global workforce by approximately 2,000 positions, about 30 percent of the total.

The restructuring initiatives are expected to reduce First Solar’s costs by $30-60 million in 2012 and $100-120 million annually going forward. In addition, the company’s average manufacturing cost is expected to improve to $0.70-$0.72 per watt in 2012 as a result of the changes, below prior expectations of $0.74 per watt. In 2013, First Solar estimates average module manufacturing costs will range from $0.60 to $0.64 per watt.

To achieve the cost savings, First Solar will record restructuring and other related charges of $245-370 million, of which $80-120 million are cash expenditures. First Solar expects to incur these charges primarily during the first quarter of 2012 and the rest over the course of the year.

In addition, First Solar has voluntarily paid down approximately $145 million of debt ahead of schedule in 2012, which represents repayment in full for outstanding amounts under the company’s German loan agreement.
First Solar to close manufacturing base in Frankfurt, Germany

Canadian Solar, SkyPower form international joint venture

Under the agreement, Canadian Solar will acquire a majority interest in 16 solar projects representing approximately 190-200MW DC from SkyPower. Each of these projects was awarded a 20-year power purchase contract by the Ontario Power Authority. Fifteen of these contracts were issued under Ontario's Feed-In-Tariff Program, and one was issued as part of Ontario's Renewable Energy Standard Offer Program.

The projects are in the advanced permitting stage and are expected to commence construction in 2013 and be fully operational in 2014. They are expected to generate over C$800 million in revenue for Canadian Solar.
It is expected that the manufacturing and construction of the projects will create hundreds of new jobs in Ontario and continue to position Ontario as a North American leader in green energy.

Canadian Solar and SkyPower have also agreed to form a 50:50 international joint venture focused on developing solar power plants in select emerging markets. Canadian Solar expects to start generating revenue from the global strategic initiative within the next two to three years.

The transaction price is approximately C$185 million to be paid at certain milestones. Canadian Solar will assume certain security deposits, which are typical with FIT contracts. In conjunction with the transaction, a five-year warrant is being issued to SkyPower for 9.9 percent of Canadian Solar's outstanding shares, with a strike price of US$5.
Canadian Solar, SkyPower form international joint venture

Waste Management opens 3.2MW gas-to-energy facility at Lockwood Landfill

When organic materials, like food and yard waste, decompose, they create a gas comprised of about 55 percent methane. Collection wells placed all over the site collect this gas and then pipe it to the power plant, where it is used as a fuel to run two generators. The project will offset the use of about 700 railcars' worth of coal.

In total, Waste Management owns or operates 131 landfill gas-to-energy facilities across North America, producing enough electricity to power nearly 475,000 homes. Combined with the company's other renewable energy projects, Waste Management produces over 9 million megawatt hours of electricity per year, or enough for more than 1.1 million homes.

"The gas-to-energy facility at the Lockwood Landfill ensures that not even garbage will go to waste," said Justin Caporusso, Waste Management spokesperson. "By investing in landfill gas-to-energy, we are powering homes using the same waste that is left at the curb."
Waste Management opens 3.2MW gas-to-energy facility at Lockwood Landfill

Westinghouse, Curtiss-Wright successfully test AP1000 reactor coolant pump

Curtiss-Wright effectively performed qualification of the RCP at its Flow Control business segment's Electro-Mechanical Division (EMD) facility in Cheswick, Pennsylvania.

The conclusion of qualification testing of the AP1000 RCP, including 50 service cycles and more than 500 total operating hours, has cleared the way for installation of the RCPs at Sanmen Unit 1 in China, the first AP1000 reactor to be built in the world.

The shipment of the first two RCPs for Sanmen 1 is expected to occur in the second quarter of 2012.
"The RCPs will now support many years of safe and reliable operation of AP1000 plants to produce the much needed electricity and jobs to sustain and grow economies, not only in China, but here in the US and elsewhere in the world," said Ric Perez, chief operating officer of Westinghouse Electric Company. "Helping to build infrastructure and promote energy development in the countries in which we do business while also creating jobs and infrastructure in the US is our standard approach to international business."

Curtiss-Wright will build 16 RCPs for the first two AP1000 plants in China at its expanded EMD facility in Cheswick. Each plant is supported by two AP1000 reactors, while each reactor holds four reactor coolant pumps. 
Westinghouse, Curtiss-Wright successfully test AP1000 reactor coolant pump