THE FRIDAY NOTE: US defines “under construction” for wind power incentive and the rest of the week's top picks

Apr 19, 2013 - This week, the US clarifies the “under construction” condition for wind farms to be eligible for the production tax credit (PTC), China tops the 2012 ranking for renewable energy investment and Shunfeng PV inks a deal for 1.5-GW solar industrial park.

The Internal Revenue Service (IRS) explained Monday that for a project to be “under construction” and get the PTC incentive, it needs to show that “physical work of a significant nature” had kicked off at the site or in a plant where the needed equipment will be produced under binding contracts. Another option is for the developers to prove that 5% of the project cost has already been incurred.

More details on: http://renewables.seenews.com/news/us-defines-under-construction-rule-for-wind-farm-incentives-347237

CHINA RANKS 1ST IN GLOBAL RENEWABLES SPENDING WITH USD 65bn IN 2012

Green energy investment in China for 2012 rose by 20% to USD 65.1 billion (EUR 50bn) so it took the first place in The Pew Charitable Trusts' G-20 list of renewable energy spenders.

Worldwide clean energy sector investment lost 11% in 2012 to USD 269 billion, with spending shifting from the West to the East, Pew said today. The world installed 88 GW in total -- 48.6 GW of wind, 31 GW of solar and some more of other green energy technologies.

More details on: http://renewables.seenews.com/news/china-ranks-1st-in-global-renewables-spending-with-usd-65bn-in-2012-347388
and http://renewables.seenews.com/news/worlds-clean-energy-spending-for-2012-eases-to-usd-269bn-growth-comes-from-east-347374

SHUNFENG PV SIGNS DEAL FOR 1.5-GW SOLAR INDUSTRIAL PARK IN CHINA

Chinese firm Shunfeng Photovoltaic International Ltd (HKG:1165) said on Thursday it had inked a framework investment agreement with regard to its plan to create a 1.5-GW solar industrial park in Qinghai province.

More details on: http://renewables.seenews.com/news/shunfeng-pv-signs-deal-for-1-5-gw-solar-industrial-park-in-china-347755

T-SOLAR TO LAY OFF ENTIRE WORKFORCE OF OURENSE PLANT

Spanish solar panel maker T-Solar has presented a downsizing plan for the entire workforce of 170 employees at its plant in Ourense. The company explained its decision with the elimination of premiums for renewable energy production, envisaged in the government's reform for the energy sector, Spanish daily El Pais said Friday.

More details on: http://renewables.seenews.com/news/t-solar-to-lay-off-entire-workforce-of-ourense-plant-report-347974

SOLARWORLD TO POST HUGE LOSS FOR 2012, LDK SOLAR'S Q4 LOSS REACHES USD 517m

German Solarworld (ETR:SWV) Wednesday said it would report a net loss of more than half a billion euros for 2012 as writedowns and slumping solar module prices took their toll. The net loss was estimated at between EUR 520 million and EUR 550 million, but Solarworld said that its annual audit "may significantly modify" these figures.

Meanwhile, China’s LDK Solar Co Ltd (NYSE:LDK) earlier that day posted a fourth-quarter 2012 net loss of USD 517 million, widening from USD 136.9 million in the preceding quarter, but an improvement from a USD-588.7-million loss a year ago.

More on the two stories: http://renewables.seenews.com/news/solarworld-to-post-huge-net-loss-for-2012-347630
and http://renewables.seenews.com/news/ldk-solars-net-loss-reaches-usd-517m-in-q4-2012-347614

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