Tesla Motors’ plan to build a new 35 GWh lithium-ion cell production facility – dubbed the Gigafactory – for electric vehicles that will bring about only a modest reduction in battery costs, and create significant overcapacity, given likely sales of less than half the targeted 500,000, according to Lux Research. Tesla and its partner, Panasonic, will contribute about 45% and 35%, respectively, of the initial $4 billion required to build the Gigafactory, proposed to go on-stream in 2017. An analysis by Lux Research projects sales of only 240,000 cars in 2020, leading to razor-thin margins to Panasonic and 57% overcapacity.
Greenbacker Renewable Energy Company LLC has announced that through a wholly-owned subsidiary it signed a definitive agreement to acquire a $880,000 solar portfolio with assets in Boulder, Broomfield, Denver and surrounding areas in Colorado. The Sunny Mountain Portfolio consists of rooftop and ground mount solar systems located on municipal, commercial and residential properties. Electricity produced by the Portfolio is sold under long term Power Purchase Agreements.
LG Electronics USA has joined forces with solar industry leader Borrego Solar Systems Inc. to expand the presence of LG’s high-efficiency solar modules in the U.S. commercial market. Under the agreement, LG will supply 24 megawatts (MW) of its popular Mono X series solar panels, led by the LG Mono X NeON modules, through 2015 to Borrego Solar, which will sell to the commercial sector as an LG preferred strategic commercial integrator in North America.
Vestas has received an order for 29 V100-2.0 MW turbines for a wind power project in Poland. The order was placed by EDF Energies Nouvelles (EDF EN). The wind power plant is one of the largest in the Northwestern part of Poland and will be installed in the province of Lubuskie near Rzepin. The wind turbine delivery is expected to begin in the first quarter of 2015 with commissioning expected to be completed in the fourth quarter of 2015.