IMHO to preserve new investments: Yingli should MOVE their Dubai office to Abu Dhabi; and their Riyadh office to Dhahran.
W/O Abu Dhabi bail out Dubai is BK; why spend energy & money there? Dubai is interested only in prestige eye catching, but money loosing projects; and have no more oil. Abu Dhabi is a lot more practical; ADNOC people are professionals, though imho a notch less than Saudi Aramco professionals in quality; since they are mostly Europeans, not Americans or US educated.
Riyadh are where the Saudi bureaucrat's are, but the money to do anything only come from Saudi Aramco, in Dhahran. Even in the Hurricane Katrina disaster, the Assistant to Aramco CEO with my suggestions paid the fair share of donations in the name of Saudi Arabia as a country. Aramco is Saudi's paymaster, so anything Saudi investments better talk to them in Dhahran directly vs. bureaucrats in Riyadh, who only spend the money coming from Saudi Aramco. Isn't it better go straight to the source vs. via an additional extra (actually more useless) layer of bureaucrats who knew nothing about making money, but expert in spending (many useless, but prestige projects). The real value investment decisions are made by professionals in Dhahran anyhow. So if bureaucrats decided it was not a fancy, prestige (but useless) projects it would be dead before it started. Why not let professionals, who are making the money & investments in the first place make their decisions straight from Yingli itself, vs. via a (practically useless) bureaucrat, only interested in prestige but impractical projects; that only cost money. Making money, let Saudi Aramco professionals do it.
Saudi Aramco, ADNOC (Abu Dhabi National Oil Company), QP (Qatar Petroleum) are National Oil Companies. They have to think long term for their National interests, once Oil & gas runs dry in their countries; so they are thinking long term = Giga Solar Farms in their waste land deserts.
US Multinational Oil Companies (Exxon, Chevron, etc) are only interested in SHORT TERM profit for shareholders, and look upon Solar as a big competitor; so they are using every lobbying power they have to kill Solar; the exception is TOTAL (the French Multinational Oil Company), which invested big time in SPWR. Unclear status of Shell & BP; whether there work with or against Solar.
I just wish Saudi Aramco, ADNOC & QP would invest in Chinese Solar companies, like YGE, for their countries long term survival; and self interest.
Suntech & LDK debts were to US bond holders; Yingli's debt to local Chinese banks; mostly Chinese Development Banks; big big difference.
Having said that Yingli needs to change its focus,
from: More on market share in China, which is one of the regions with the lowest average selling price of panels;
to: Cash rich markets, like wealthy GCC Arab Oil states trying to preserve its oil, by building massive solar farms, like MASDAR, and in near future: GCCTEC which could replace DESERTEC, imho just a mater of time. In any case DONOT waste any investment money in Sub-Saharan Africa. Instead open new offices in Dhahran, Abu Dhabi & Doha (Qatar). These are places where money to buy solar panels are in abundance; and Giga Solar projects most likely will come; either Giga Solar Farms in Desert waste land like Rub Al Khali, or Energy to power Desalination Plants.
Yes SPWR is partly owned by TOTAL. I just wish Yingli would partner with Saudi Aramco. Remember the period of "6 dry wells imho is past); and we are now drilling the "7th well"; Could it be the "Prosperity well", like Dammam#7 ???????
CASOC lucky? YES, but the new Chief geologist at the time: Max Steineke (Google for Info) knew from geological formations that there are big reservoirs in Eastern Province of Saudi Arabia. The first 6 wells drilled were all dry. On the 7th Dammam (The Prosperity) well; oil flows; and bring riches beyond dreams not only to the Saudis, but also to UAE people. The British gave up the Trucial States (now UAE: Abu Dhabi, Dubai, Sharjah, etc) since it cost them only money at the time. They must kick themselves now, for such a stupidity; giving up all the UAE oil.
Same with Yingli; we all know the Solar revolution is coming. Price of Solar has surpass the grid; and solar is now cheaper than any energy form in most US States, and at least 120+ countries. Once installed free Energy, until panels replaced (30 yrs?). IMHO Yingli has survived the dry (CASOC's 6 dry wells) period; lucky break will come soon. It just need 1 Giga contract; and the baby will fly, like CASOC - (Saudi) Aramco; the wealthiest (non profit) company in the world. Yingli has the manufacturing capacity to supply Giga contracts like GCCTEC, while others, like CSIQ do not.
The Saudis, Qatar & UAEs do NOT need any body's permission to execute the German readily available plans of DESERTEC on the road to Shaybah in Rub Al Khali; all the infrastructure are readily available: Good roads, Airport, Desalination Plants & housing in Shaybah; Major international Airports in Abu Dhabi, Dubai, Qatar, Dammam, Jubail, Kuwait City, Sharjah; Major (Container) Seaports in Jebel Ali, Abu Dhabi, Dubai, Qatar, Dammam, Jubail, etc. Existing Eurasian Bosporus bridge in Turkey, so Electric cables could be attached, the most important part: GCC money to make GCCTEC a reality vs. crumbling DESERTEC financing.
So Yingli, please do not invest anything in Sub-Saharan Africa; instead please open new offices in Dhahran, Abu Dhabi & Qatar. Hire me as consultant if necessary. I have the Aramco connections at the right places.
To name a few:
Apple, now the most valuable company in the world.
CASOC, now Saudi Aramco: the Largest Oil company in the world, in assets I believe the wealthiest in the world. CASOC was spending its last $'s before Oil gushes from their "Prosperity well" Dammam 7; still producing today. Of course Dammam 7 reservoir is small now compared to Ghawar (the largest on shore); and Safaniya (the largest off shore). Saudi Aramco is now iplanning to invest big in Solar to preserve its valuable oil & gas & use it for PetroChemicals more than burning it as Energy.
As long as the vision is very clear, and management relatively decent; companies close to bankruptcy could turn around and become great and very successful.
Well, not totally gambling; more like calculated risk taking. Of course you could be unlucky and get burned; however if you do your homework, chances for winning IN TOTAL is larger than loosing. Of course in the process there will be companies in your portfolio that could go BK. However "long term" many will prosper; and all in all will still be making money.
WHY is Apple now the most valuable company in the world? Where Peachtree, Vector, Victor, and many others went bankrupt like Suntech, LDK & Solyndra? Same in Solar, many will go BK, however the ones who wurvived will be very prosperous. The demand for Solar worldwide is much higher than supply. Surviving Solar companies chances to prosper from now on is very high
Better number 2 and profitable, than no 1 but loose money.
If Yingli could only get the Saudi Aramco contracts, then YGE will be great, as it never was.
Yes, it is all relative; many mistake Freedom Fighters as terrorists. Remember how bad Kamikaze suicide pilots were portrait in WW2? Yet now history remember them differently, and no more put downs on them. As bad as 911 was, those so called terrorist (or Freedom Fighters) gave up their own life for XX number of virgins in their Paradise. So they were no cowards.
As far as Madeleine, she was before my time in Saudi, during Clinton years. I admire her as fellow immigrant to be able to achieve what she has as Secretary of State.
Yes I wish we only know CIA as Culinary Institute of America; then maybe we would have more peace. Though believe w/o the real CIA, Osama would still be alive; though ISIS is now worse than Al Qaida ever was.
Not so perfect Immigrant
We were down with our 4 wheel drives to provide food & drinks to the soldiers during 1st Gulf War; also opening our house, inviting soldiers for R&R; washing their dirty laundries, etc.
Imho attacking & killing Saddam (an Ex CIA man) in 2nd Gulf War was totally wrong, despite our support for the troops. Longer term it cost us in the US $Billions, and suddenly Iran got the upper hand. At the time in late 1990's, Saddam could invade the whole Saudi oil fields in Eastern Province if he wanted too; yet he stopped at Kuwait border. Why? Rumors & Saudi local newspapers wrote that the Kuwaitis (with US assistance) were doing the new Horizontal drilling technique, right into Iraqi fields. If this were true (since we have the technology, Saddam did not), of course he has reasons to be mad & invade what was technically "stolen" from him. Kuwaiti fields, like Burgan was already 60+ yrs old, the time it was all pumped out & dry. Why suddenly oil flows there again? All of Saddam's so called weapon's of mass destruction were actually US supplied (he did not have the technology); and all were accounted in the final tally; that was why we found nothing. BTW as Iraqi oil was banned; it still flowed via tapline to the Ras Tanura (RT) Port & shipped from there. Ras Tanura lab (where I controlled the computer systems at the time) was certifying all 9Million bbl/day which flows out of this largest Oil Port in the world; I saw Basra (Iraqi oil under embargo) Oil certified there flowing into the largest Supertankers. So embargo or not oil still flows out of Saddam's Iraq. As I questioned that, I was told if I like my job (which I do), to just shut up.
BTW who build this key vital RT lab? None other than the giant Bin Laden group, controlled by father & family of Osama Bin Laden. The so called Al Qaida are actually members of the wealthiest Saudi families; who got big stipends for doing nothing; since we expats did all the work. Hence I got to know the Assistant to the CEO, etc.
To invest and spend energy in Sub-Saharan Africa imho is totally wrong, a waste of precious money & already limited resources. DESERTEC the proponent of Sub-Saharan Giga Solar Farms has collapsed and is practically dead. Though Saudi's ACWA Power recently joined Desertec, many key early German proponents & investors, like Siemens, Bosch, etc, already bailed out.
IMHO Saudi & UAE will create a "new" DESERTEC: GCCTEC: The new road to Shaybah Reservoir in Rub Al Khali (Empty Quarters) is ideal for Giga Solar Farms to replace DESERTEC. Saudi, UAE & other wealthy GCC Oil states have the necessary capital to built GCCTEC. The Infra structure is already there, an Airport in Shaybah, great paved road to Shaybah from Dhahran as well as UAE/Qatar border with its many big Seaports of Abu Dhabi, Dubai, Qatar, Jebel Ali; also the many International Airports, served by great Airlines that flies direct to major World Centers close by (Even to Urumchi, Xinjiang, China; I once flew non stop from Sharjah, that flight continues to Beijing). Compare that to almost no infrastructure in Sub-Saharan Africa.
Also to future Electric Energy transport by cables; the bridge to Europe (Via Turkey) are already available vs. non between Africa & Europe (closest Spain/Gibraltar).
So the likelihood of GCCTEC is much more realistic than DESERTEC; since there are already great infrastructure readily available.
That is why I urged Yingli Management NOT to invest in Sub-Saharan Africa, and instead open new offices in Qatar, Abu Dhabi, Dhahran; and redouble personnel in Riyadh & Dubai. Hire me as consultant if needed, since my wife (onnymay) & I have lived & worked in Saudi for 18 years. Our long weekends shopping were Abu Dhabi / Dubai or Jeddah on the Red sea; else weekends: Qatar, Jubail, Bahrain & Hofuf. I saw Abu Dhabi, Dubai, Twin Industrial Cities of Jubail & Yanbu (looks like Vegas at night w/o the dancing girls)explosive growth from sleepy fishing villages to world class cities today.
Google topic for full report.
Highlight:Saudi Arabia is delaying by eight years its target to complete clean-energy program including $109 billion in solar power, saying it needs more time to assess what technologies it will use.
The project was originally intended to produce a third of the nation’s electricity from solar panels by 2032 and more from wind, geothermal and nuclear reactors. The ambition was to save more crude oil for export.
“We have revised the outlook to focus on 2040 as the major milestone for long-term energy planning in Saudi Arabia,” said Hashim Yamani, president of the King Abdullah City for Atomic and Renewable Energy, the royal agency established to oversee renewable energy policy.
Sounds like setback, actually for Yingli a big opportunity.
Currently Saudi Aramco uses Suntech panels for its Pilot plants; with Suntech bankruptcy: Canadian Solar stepped in; however CSIQ does not have enough capacity to supply all of Aramco's & Saudi's needs; so by needing more time to assess what technologies it will use, it will also evaluate Yingli, with its new CleanARC coated panels for tough desert conditions.
Also Hashim Yamani is president of the King Abdullah City for Atomic and Renewable Energy; not what really counts: Saudi Aramco. Aramco can make decisions at very fast pace, once strategy is set. I had working experience with both the Saudis: 1. Assistant to CEO (working on Aramco's Katrina assistance) & 2.The person who runs Planning & Programs (working together in Ras Tanura Refinery & its Multi Billion $ upgrade: pointing out need to utilize the Internet as early as early 1990's) there very well; Imho these two Saudis are the real Decision Makers.
Seems White House is now serious about Renewable; here is an EMail to me from The White House:
Here at the White House, we're dedicated to making President Obama's administration the most open and accessible in history. And today, we're opening the doors of the White House (at least, digitally), bringing back a tradition that dates back to the days of President Andrew Jackson and an open house involving a 1,400-pound block of cheese.
In "fromage" (or, homage) to President Jackson's open house, you can bet there will be a few cheese jokes. But we'll be answering some serious policy questions, too.
Have a question about the issues President Obama spoke about in his State of the Union address? Find out how to participate in today's online events -- or keep reading below.
Log on to Twitter, Facebook, Instagram, and Tumblr, and ask your questions using the hashtag #AskTheWH.
Got a question on issues like climate change, energy, and conservation? Here's a list of Administration accounts that will be holding Twitter Q&A's from 1:00 p.m. to 2:00 p.m. ET this afternoon.
• Secretary of Energy Ernest Moniz - @ErnestMoniz
• Special Assistant to the President for Energy & Climate Change - @Utech44
• Secretary of the Interior Sally Jewell – @SecretaryJewell
• Department of Interior - @Interior
• Environmental Protection Agency - @EPA
• Department of Energy - @Energy
Have questions on other issues, too? Check out the full schedule of all the ways you can engage during Big Block of Cheese Day.
Abu Dhabi Sustainability Week (ADSW) is a global platform that addresses the interconnected challenges that affect the widespread acceleration and adoption of sustainable development and clean energy. To seriously address the global energy challenge, the relationships between economic development, poverty eradication, energy security, water scarcity and climate change cannot be overlooked. ADSW, the largest gathering on sustainability in the history of the Middle East, encourages actionable outcomes to carve a pathway toward sustainability worldwide.
Abu Dhabi Sustainability Week (ADSW) is the largest gathering on sustainability in the Middle East, and a significant platform for international dialogue and cooperation.
In 2014, ADSW welcomed over 32,000 participants from 170 countries, in an effort to:
Tackle the world’s pressing issues in energy, water and environment
Accelerate the global adoption of renewable energy and sustainable development
Address water challenges in arid regions
Elevate the water-energy nexus topics on the global agenda
Encourage the dialogue between broad industry stakeholders to strengthen strategic partnerships
Stimulate investment in water, energy and environment projects
Empower the young generations and entrepreneurs
This year, between 17th and 24th January 2015 - (ADSW Festival is on the 23rd & 24th), ADSW will, once again, bring world leaders, policy makers, thought leaders, decision makers, experts, scientists, business leaders andacademics together to discuss, debate, and ultimately address the energy and sustainability challenges of the future.
Anchored by the World Future Energy Summit (WFES), the 2015 programme will feature a series of complementary events, conferences and exhibitions, including: The International Water Summit; The Abu Dhabi Renewable Energy Conference; The Zayed Future Energy Prize Award Ceremony; The International Renewable Energy Agency meeting; and Ecowaste.
Google Topic for details.
In the past Suntech was a major supplier to MASDAR (Google for details). With Suntech bankruptcy now, hope that Yingli's new UAE office could pick up these contracts.
Then if Yingli's Saudi office could pick up Saudi Aramco fat future contracts; since CSIQ (who picked up Suntech contracts) won't be able to supply all of Aramco's & Saudi's (incl. its giant Desalination plants all over the country) needs, YGE will be set to fly high.
If Yingli's UAE & Saudi office could concentrate & succeed in these 2 or 3 Giga Projects alone with big profit margins, and very deep pockets to support such projects, YGE will be very profitable in no time.
My advice don't do much of Domestic China projects and/or other US/EU/3rd world projects that loose money, just to sell or be first; better concentrate on Giga GCC contracts backed by wealthy oil countries now going big on Solar.
Yes, Yahoo Groups often deleted messages they don't like, especially with links.
What does ABGB stands for?
Google topic for details.
Highlight: The solar industry added jobs at a rate nearly 20 times faster than the national average last year, according to an annual report.
The Fossil Fuel Lobby has so far managed to partially destroy Renewables. However the trend is against them; soon the tide will turn, and Renewable (lead by Solar companies, like YGE) will win big.
Google Topic for Details.
Highlight:“Renewable energy projects across the globe are now matching or outperforming fossil fuels, particularly when accounting for externalities like local pollution, environmental damage and ill health,” said Adnan Z. Amin, Director-General of IRENA. “The game has changed; the plummeting price of renewables is creating a historic opportunity to build a clean, sustainable energy system and avert catastrophic climate change in an affordable way.”
Despite a major oil producer Abu Dhabi is home of MASDAR (Google for Info), and big Solar user.
So will other wealthy Gulf Arab oil countries. They want to preserve their oil for Petrochemicals instead of burning. Big projects with DOW from Saudi Aramco. From my 18 yrs experience working in Saudi, I am waiting for the day where Yingli sign a Giga contract with Saudi Aramco to build Giga Solar Farms in Rub Al Khali (Empty Quarters) on the long road to Shaybah (from Abu Dhabi border), where all the Infra structure for Maintenance, support, supply from Air/Sea-ports, etc are already available; I strongly believe the Saudi's will replace DESERTEC (Google for Info) with KHALITEC or better GULFTEC (in strong cooperation with UAE).
Google topic for detailed Report.
Highlight: The IEA (International Energy Agency) expects the cost of solar panels to halve in the next 20 years. By 2050, it predicts, solar will provide 16% of the world’s electric power, well up from the 11% it forecast in 2010.
Who are makers of low cost Solar Panels? Is Yingli one of it?