Targray https://www.targray.com Lithium-ion Battery Materials, Solar PV & Biodiesel Supplier Mon, 12 Aug 2019 14:48:23 +0000 en-US hourly 1 https://www.targray.com/content-data/mediafiles/images/2016/05/targray-favicon.png Targray https://www.targray.com 32 32 Solar Energy in Latin America: Four Key Impact Drivers https://www.targray.com/articles/solar-energy-latin-america https://www.targray.com/articles/solar-energy-latin-america#respond Thu, 01 Aug 2019 13:03:36 +0000 https://www.targray.com/?p=10687 With high irradiation levels and growing energy demand, South America is quickly becoming one of the most attractive regions for solar development.

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Recent corruption scandals have taken news headlines by storm in Latin America, fueling anti-establishment fervor throughout the region. As the dust settles on the political fracas, we take a closer look at four impact drivers which are helping create a bright outlook for the Latin American solar market.

Reduced Dependence on Hydroelectricity

Hydroelectricity accounts for approximately half of all power generation in Latin America today. Over the last few decades, changes to rainfall patterns and other natural weather phenomena brought about by climate change, like El Nino, have contributed to making hydroelectric power a less reliable energy source than it was in the past. In 2001, for instance, Brazil experienced a severe drought that led to a drop in water levels at several hydroelectric dams, leaving millions of people and businesses without electricity for months.

In recent years, the appetite for dam construction in the region has been limited due to the high social and environmental costs involved (deforestation, population displacement). Consequently, Latin American countries seeking to solidify their energy infrastructure and avoid another energy crisis are now turning their focus to Solar PV systems.

Strengthening of Renewable Energy Policies

Latin America has traditionally lagged behind Europe, Asia and North America with regards to solar-friendly policy implementation. But recent developments in the region suggest there may be brighter days ahead for the Latin American solar sector:

Colombia‘s energy and gas regulator CREG published new regulations that will allow the sale of surplus energy to the national grid. In addition, Plan5Caribe has kick-started the investment scheme for transmission, distribution and substation construction, so that more solar projects can connect to the grid.

The Ministry of Energy and Mines (MEM) of Nicaragua announced the publication of the new regulation for self-consumption and net metering. In December 2017, the local Parliament also approved a reform of the Law 532, which extends the fiscal incentives for renewable energy for another five years. National Electricity Transmission Company (ENATREL) announced its plans for installing 11,000 solar PV systems by the end of 2018.

Brazil plans to introduce its first Certified Green Bond for solar energy. The bond will be issued by Faro Energy and will be used to finance distributed solar power projects across the country. In other news, the National Congress of Brazil is reviewing a plan for the country to join the International Solar Alliance (ISA), which would give additional benefits in the areas of financing, incentives policies and R&D to Brazil-based solar projects.

Return to Financial Stability

In the three Latin American markets with the greatest potential for solar installations – Mexico, Brazil and Chile – financial stability is slowly returning after a period of recession. Although election promises around investment in energy – such as those recently made by Mexican President-Elect Andres Manuel Lopez Obrador (AMLO) – have been vague, the consolidation of power in Mexico’s congress combined with AMLO’s poise are expected to help stabilize the economy and restore investor confidence.

In Brazil, six banks now account for 86% of loans, and interest rates can run into three figures. On the other hand, private banks such as Itaú Unibanco, Bradesco and Santander have chalked up returns on equity of 18% in the second quarter. Greater involvement of these firms in Brazil’s solar sector – which struggles with financing – is likely to become an important contributor to its growth moving forward.

Irradiation in Latin America

Favorable Climate Conditions

Select regions within the Solar Belt (Baja California, Mexico; Sertão, Brazil) experience high irradiation ranging from 1,600- 2,250 kWh/ m2 per year, and Chile’s Atacama Desert features the highest solar irradiation in the world. As of today, the vast solar potential of these regions  – which if developed could serve all of South America’s energy needs – remains largely untapped.


For over a decade, Targray PV material solutions have played an important part in making solar a competitive alternative to traditional energy sources. The company’s value-added solar modules, solar cells, and supply chain financing programs help PV manufacturers, EPCs, and solar project developers worldwide lower the cost-per-watt their solar energy solutions can deliver to end-users.

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Targray Makes Debut Appearance on Financial Post FP500 List https://www.targray.com/articles/targray-debut-fp500-list https://www.targray.com/articles/targray-debut-fp500-list#respond Wed, 19 Jun 2019 13:24:07 +0000 https://www.targray.com/?p=14908 Targray has been named to the FP500, Financial Post's ranking of the top 500 corporations in Canada by revenue. The company ranks No. 458 among all companies surveyed, up from No. 534 the previous year.

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Targray was founded in 1989 to supply specialty materials to the compact disc manufacturing industry. The company turned its focused to renewable energy in the mid-2000s, becoming a major international provider of materials and supply chain solutions for the solar and lithium-ion battery sectors. In the last decade, Targray has expanded into energy marketing and trading, establishing itself as a leading supplier of biodiesel and refined products in several markets across North America and Europe.

Targray is taking on some of the biggest challenges in the energy sector while remaining focused on creating value for partners in the supply chain,” said Targray President and CEO Andrew Richardson in a statement. “Inclusion in this year’s FP500 is a significant achievement that speaks to our strong culture of innovation, and to the passion and creativity of our global workforce.”

The FP500 is an annual listing of the 500 largest corporations in Canada based on revenues from the previous year. Research and rankings are collected and distributed by FPInfomart, a division of CanWest Digital Media. This year marks the 55th edition of the FP500.

According to the Financial Post, total revenue reported by the FP500 as a group was $2.33 trillion CAD, with the average FP500 company reporting revenue of $4.67 billion and a profit of 455 million. A complete listing of the FP500 and more information on the methodology is available at https://business.financialpost.com/feature/fp500-the-premier-ranking-of-corporate-canada

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Solar Project Types: Utility-Scale, Commercial, Residential https://www.targray.com/articles/solar-project-types Thu, 04 Apr 2019 15:12:13 +0000 https://www.targray.com/?p=12765 Targray Solar analyst Justin Park a closer look at the three main types of solar PV project going online today: Utility-scale, commercial and industrial (C&I), and residential.

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From utility-scale mega projects to small residential deployments, solar projects are becoming globally cheaper and more investment-worthy while delivering greater efficiency-per-watt to customers. In this article, Targray Solar analyst Justin Park a closer look at the three main types of solar PV project going online today: Utility-scale, commercial and industrial (C&I), and residential.

Utility-scale Solar PV Projects

A ‘utility-scale’ solar project is usually defined as such if it produces 10 megawatts (MW) or more of energy. For comparison, the average American household uses approximately 900 kWh (0.9 MWh) per month.

A good example of a utility-scale PV project is the panda-shaped solar farm pictured above. the Datong, China based project situated on 250 acres of land generates a total of 100 MW of solar energy, enough to offset approximately 1 million tons of coal in the next 25 years. Estimates suggest a solar farm of this size can deliver enough wattage to power roughly 60,000 homes (Source: EPA Greenhouse Gas Equivalences Calculator).

Utility-scale solar project participants

  • Utility companies, also known as “off-takers”, are typically the party that purchases the generated power.
  • Project developers and EPCs (engineering, procurement, construction).
  • Project financiers
  • Contractors and installers
  • Local government agencies
  • Solar and energy storage equipment manufacturers
  • Solar project owners

Commercial and Industrial (C&I) Solar PV Projects

What do Target, Google and L’Oreal have in common? All 3 have become private sector leaders in terms of commercial solar energy deployment.

Industries focused on consumer goods, fashion and the high-tech sector all use significant amounts of energy, and stakeholders are becoming increasingly aware of the potential savings that solar power operations can deliver. They are also recognizing the intangible benefits of meeting the consumer expectation of being cognizant of the environment.

Building-integrated photovoltaics

Building-integrated photovoltaics (BIPV) projects are an increasingly popular solution that enables builders to maximize energy efficiency through the integration of solar panels in unused commercial window space. A day care center in Marburg, Germany (pictured above) by architecture firm Opus Architekten showcases BIPV’s ability to effectively balance attractive design and efficient energy generation.

Solar technology providers have been the subject of criticism in the past for delivering solar array designs that were an ‘eyesore’. BIPV is a direct response to this criticism. It also happens to be one of the fastest growing segments in the solar industry today.

Solar carports

Yet another effective way to increase energy efficiency in commercial building projects is through the construction of solar carports. panels for commercial projects is to construct solar carports. Atlanta’s Mercedes-Benz stadium – which hosted Super Bowl LIII and the U.S. College Football Championship Game in 2018 –  features solar panels throughout much of its parking area.

The most common types of installation for Commercial and Industrial (C&I) projects remain ground-mounted and rooftop solar systems. The size of these projects tends to be smaller than with utility-scale projects, hovering around 1-2 MW. Another key difference between utility-scale and C&I projects is the off-taker. Utility-scale projects primarily serve utility companies, whereas C&I projects supply power to corporate organizations and industrial plants.

 C&I project participants

  • Corporate and industrial customers (off-takers)
  • Project developers and EPC companies
  • Project financiers
  • Contractors and installers
  • Local government agencies project owners
  • Solar and energy storage equipment manufacturers
  • Solar project owner

Residential Solar PV Projects

In some countries, like Australia, the residential sector is the fastest-growing solar PV project segment. And while going solar may still be perceived as an expensive energy solution accessible only to high income households, the most significant growth down under appears to be occurring in low- and middle-income household segments. This should come as no surprise to the authors of Australia’s Rooftop Real Estate report, which found that households equipped with solar PV had electricity costs 20% lower than their non-PV counterparts.

Residential rooftop solar PV project types are the smallest in size, ranging from 5 to 20 kilowatts (0.005-0.2MW). Prior to installation, residential solar installers will typically conduct a feasibility study to determine factors such as total shade-free area, insolation, potential power output and optimal panel orientation.

Residential solar project participants

  • Homeowners (off-takers)
  • Financial institutions
  • Contractors and installers
  • Solar and energy storage equipment manufacturers

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Targray Earns Canada’s Best Managed Companies Award https://www.targray.com/articles/best-managed-companies-award https://www.targray.com/articles/best-managed-companies-award#respond Thu, 07 Mar 2019 17:02:58 +0000 https://www.targray.com/?p=12813 Established in 1993, Canada’s Best Managed Companies is the country’s leading business awards program, recognizing excellence in Canadian owned and managed companies with revenues over $15 million.

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About the Best Managed Companies Award

Established in 1993, Canada’s Best Managed Companies is the country’s leading business awards program, recognizing excellence in Canadian owned and managed companies with revenues over $15 million. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of their management abilities and practices.

 

About Targray

Targray is an international leader in the sourcing, transporting, storage, financing and supply of commodities and specialty materials for renewable energy industries. Drawing on 3 decades of experience in international trade, logistics, and risk management, the company is focused on delivering an effective mix of products and services to create sustainable value for its customers in over 50 countries.

Source: DELOITTE

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Energy Storage Systems: 10 Technology Trends to Watch https://www.targray.com/articles/energy-storage-systems-technology-trends https://www.targray.com/articles/energy-storage-systems-technology-trends#respond Sat, 02 Mar 2019 15:40:08 +0000 https://www.targray.com/?p=11082 Energy storage system capabilities today extend as far as stabilizing the grid from the intermittent output from solar and wind.

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1. Battery Energy Storage Manufacturing Capacity is Growing Fast

Chinese company BYD Co. is building what may become the world’s largest vehicle-battery factory next year in an effort by the electric-car maker to increase capacity and help revive earnings growth. But it’s just one of many notable companies currently building a  gigafactory i.e. a battery plant with a capacity of 1 GW or higher. Other notable builders include:

  • Tesla (Nevada / Buffalo)
  • SK Innovation (Hungary)
  • CATL (China)
  • Funeng Technology (China)
  • Guoxuan High-Tech (China)
  • Eve Energy (China)
  • Samsung SDI (Hungary)
  • TerraE Holding (Germany)
  • LG Chem (Poland)

All in all, global capacity for energy storage is expected to reach 8.6 GW/ 21.6 GWh by 2022, enough to power to electrify roughly 6 million homes.

2. Lithium-ion is Becoming the Technology of Choice for Solar-based ESS

For solar panels, lithium-ion battery powered energy storage is the technology of choice today. The growth of the EV market has  contributed to greatly improving li-ion technologies in recent years. As a result, The prices for Lithium-based batteries are steadily declining by 8% on an annual basis, making solar + storage projects more investment-friendly.

As it stands, li-ion batteries comprise 98.8% of the battery / energy storage market share. Nevertheless, promising technologies such as flow battery (developed by NASA) and fuel cell are poised to scale-up and offer alternative storage solutions sometime in the near future.

3. Asia is On Track to Become the World Leader in Energy Storage

Samsung SDI and LG Chem are regarded as market leaders in ESS / li-ion battery manufacturing, with BYD coming in close behind. Samsung SDI’s joint venture with an inverter manufacturer Sungrow in 2016 has further solidified the Korean company’s top position with 38% market share in the sector, while Tesla announced big plans for energy storage in the latest conference call (such as the 1GWh ESS project in Australia). Meanwhile, European company Leclanché is planning on targeting the Indian ESS market through a JV with Exide Industries.

4. Government Incentives for Energy Storage are Driving Growth

The California Public Utilities Commission, for example, has adopted a storage procurement mandate of 1,325 megawatts of storage by 2020 for the state’s three investor-owned utilities. Hawaii, Massachusetts, New York, Maryland, New Jersey, Oregon and Nevada have also adopted storage mandates and regulations,” said Donner. “At the federal level, the 30% Investment Tax Credit remains available for energy storage, provided it is coupled with renewable generation.”

These friendly policies such as these could serve as a model for Europe and Asia to remove regulatory barriers and install more ESS.

5. Utilities are Primed to Partner With / Acquire ESS Companies

The ESS industry in 2017 had a record year in terms of mergers and acquisitions, with utility and energy companies such as Enel and BP making big purchases. In 2018, this trend continues to grow. VC funding for Energy Storage companies in 1H 2018 was 12 percent higher with $539 million compared to the $480 million raised in 1H 2017. 

In 1H 2018 there were a total of eight (one disclosed) Energy Storage M&A transactions, compared to two in 1H 2017. There were four Energy Storage M&A transactions in Q2 2018. By comparison, there were four Energy Storage M&A transactions in Q1 2018 and one transaction in Q2 2017.

6. Energy Storage-as-a-Service (ESaaS) is Becoming a Key Service Model

ESaaS simply refers to a combination of an advanced energy storage system, an energy management system, and a service contract which can deliver value to a business by providing reliable power more economically. The business model was initially developed by Constant Power, and it is being replicated elsewhere to generate steady returns for investors upon completion of an ESS project.

With energy storage deals previously avoided by investors due to the complexity surrounding cash flow, new business models like ESaaS is a promising development to attract financing and further grow the industry.

7. Residential ESS Growth is Outstripping Utility-scale

Residential installations of battery storage beat commercial installations in Q1 of 2018, 15.9 MW to 11.7 MW (almost beat utility-scale installations at 16 MW). The traditionally tiny residential sector rose 3,833 percent year-over-year and is further expected to benefit from energy storage-friendly policies in California and Hawaii.

8. Levelized Cost of Storage (LCOS) is Emerging as a Popular Metric

The commonly accepted method for predicting revenue is levelized cost of electricity (LCOE). However, this model does not factor energy storage technology into account.

Levelized Cost of Storage (LCOS) measures the efficiency of ESS in the grid that now handles 80-90% of renewable energy after adding storage. The LCOS formula calculates the cost of storing electricity in ESS and divides by the retail price of electricity stored. Granted, LCOS has only been in existence for the last 3 years, and this new metric will continue to evolve and provide a standard metric of providing better insights to the financiers.

 

9. Opportunities for Financing Battery Storage on a Project Basis are Increasing

As mentioned earlier, the improvements in the business model and clearer metrics for revenue/cost of advanced storage systems, are giving a renewed focus on project financing for ESS deals.

According to Moody’s Investors Service, an energy storage project that has a long-term contract with a creditworthy counterparty “provides a lower risk profile from a revenue and cash-flow generation perspective than one using a merchant revenue model.” As the industry experiments per-project basis, we expect to see a more defined structure for project financing in the Energy Storage space.

10. Ethical Sourcing is Increasingly Critical for Battery Materials

While lithium-ion battery is the dominant technology used in ESS, many worry about the harmful consequences when procuring the rare mineral. Li-ion battery containing cobalt is not only hazardous to the environment due to its toxic nature, but is also found and mined in a select “conflict areas” around the world where human rights (i.e. child labor in DRC) are often violated.

Moving forward, the industry will either look at alternative solutions for batteries or take caution in selecting its suppliers.

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Opportunities Abound for Biodiesel Blenders in the U.S. Market https://www.targray.com/articles/biodiesel-blenders-us-market https://www.targray.com/articles/biodiesel-blenders-us-market#respond Fri, 01 Mar 2019 18:36:33 +0000 https://www.targray.com/?p=10718 Biodiesel blenders are consistently achieving better business outcomes than their non-blending counterparts in the U.S. fuel retail segment. Here's why.

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The Evolving U.S. Biodiesel Market

Increasing Volume Requirements

Growth in the EPA Renewable Fuel Standard’s biodiesel volume requirements – from 1.63 billion gallons in 2014 to 2.1 billion gallons in 2018 – has resulted in more biodiesel fuel being introduced into the U.S. market. The greater volumes of product on offer has contributed to driving down the price of biodiesel in many regional markets.

Greater Supplier Diversity

Once available only through a handful of producers located far away from population centers, biodiesel today can be acquired from local suppliers in several American cities. In addition, the emergence of value-added biodiesel suppliers specialized in hedging, risk and supply chain management has helped create a more competitive marketplace, placing additional downwards pressure on price.

New State-Level Policies

In the last 10 years, several new policies have been introduced at the state level to incentivize biodiesel blending in the retail segment. In the next section, we’ll take a closer look at the states where requirements and incentives have created the strongest demand for biodiesel of late.

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RIN Credits and Positive Blend Economics

Renewable Identification Numbers (RINs) are fungible, tradeable regulatory credits generated when 100% biodiesel (B100) is produced. For each gallon produced, a single RIN credit is created.

RIN Credits can be separated from their gallons and sold to obligated parties – primarily oil and gas companies – for compliance purposes. The sale of RINs enables biodiesel suppliers in certain markets to supply biodiesel at a lower price than ulta-low sulphur diesel (ULSD). This creates ‘positive blend economics’ allowing retailers and distributors to increase their fuel margins:

(Biodiesel $/gallon – RIN $/gallon) < diesel $/gallon

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The Biodiesel Policy Landscape

State governments enact laws and provide incentives to help build and maintain a market for biodiesel fuel and vehicles. Below, we’ve compiled a list of the U.S. states with the most robust biodiesel policies currently in place.

Biodiesel Blenders

1. California

The Low Carbon Fuel Standard (LCFS) sets pollution limits for transport fuel and rewards producers that reduce carbon pollution with credits.

Like RINs, LCFS credits help lower the selling price of biodiesel. This contributes to increasing the competitive advantage that biodiesel blending provides to retailers and distributors.

2. Illinois

State diesel vehicles are required to be filled with B5 when refueling at a bulk central fueling facility, with certain exceptions. With respect to pure (100%) biodiesel and biodiesel blends between B10 and B99, sales tax does not apply to the proceeds of sales made until the end of 2023.

3. Iowa

Retailers selling biodiesel blends containing a minimum of 5% biodiesel are eligible for a state income tax credit of 4.5 cts/gallon. As of Jan. 1, 2018, retailers selling biodiesel blends with a minimum of 11% biodiesel are eligible for an income tax credit of 5.5 cts/gallon; blends between 5% and 10% are eligible for an income tax credit of 3.5cts/gallon.

4. Minnesota

Minnesota introduced a 5% biodiesel mandate in May 2009. In July 2014, the mandate increased to 10% during April 1-Sept. 30. As of May 1, 2018, the biodiesel mandate has increased to 20% during April 1- Sept. 30. During the winter months (Oct. 1-March 30), the provision reverts to 5% biodiesel.

5. New York

New York began offering a corporate income tax credit for biodiesel purchases used for residential space heating and water heating in 2006. Eligible taxpayers are defined as corporations that are subject to the franchise tax on business corporations, including a corporation that is a partner in a partnership. The value of the tax credit is $0.01/gallon for each percent of biodiesel blended with conventional home heating oil, up to a maximum of $0.20/ gallon. In other words, the purchaser of a mixture of 10% biodiesel and 90% conventional heating oil is entitled to a tax credit of $0.10/gallon.

6. Oregon

The entire state of Oregon has a 5% biodiesel requirement. Renewable diesel qualifies as a substitute for biodiesel in the blending requirement. Biodiesel blends of B20 and higher derived from used cooking oil are exempt from the state fuel excise tax through Dec. 31, 2019. This exemption does not apply to fuel used in vehicles over 26,000 pounds; fuel not sold in retail operations; or fuel sold in operations involving fleet fueling or bulk sales. Oregon also operates an LCFS program like the one found in California.

7. Pennsylvania

Since June 1, 2010, all diesel fuel sold in Pennsylvania must contain 2% biodiesel by volume, except for heating oil and various grades of jet fuel. The mandate is set to increase to 5% by volume one year after instate production reaches 100 million gallons; 10% by volume one year after instate production reaches 200 million gallons; and 20% by volume one year after instate production reaches 400 million gallons.

8. Texas

Biodiesel blended with taxable diesel is exempt from the diesel fuel tax. Moreover, state fleets with more than 15 vehicles, excluding emergency and law enforcement vehicles, may not purchase or lease a vehicle unless it uses an alternative fuel, such as ethanol or E85, biodiesel or B20.

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The Takeaway

At both the national and state levels, new carbon reduction policies and a matured biodiesel supply chain are providing fuel retailers and distributors with the opportunity to enhance their bottom lines while helping build a more sustainable energy future. And in an industry where fuel margins are often measured by the penny, the economic benefits of biodiesel blending can quickly add up.

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Solar Supply Chain Finance Program Expansion Announced https://www.targray.com/articles/targray-expands-solar-supply-chain-finance-program https://www.targray.com/articles/targray-expands-solar-supply-chain-finance-program#respond Mon, 25 Feb 2019 15:03:01 +0000 https://www.targray.com/?p=12708 Offered in partnership with Targray’s global banking partners, the program enables solar material buyers to optimize working capital through extended payment terms, while helping their suppliers benefit from additional cash flow.

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Despite strong growth in recent years, the solar industry continues to experience difficulties accessing the right financial tools for large and medium-sized projects,” says Targray Solar Business Developer, Oleh Kaluzny. “Our solar financing solution is helping PV companies take on more customers, grow their business, and create new efficiencies to lower the cost-per-watt their energy solutions can deliver.

Initially developed to meet the needs of PV manufacturing customers in the mid-2000s, Targray’s finance program is now being expanded to support the requirements of solar industry participants across the supply chain.

About Targray

Targray is an international leader in the sourcing, transporting, storage, financing and supply of commodities and specialty materials for renewable energy industries. Drawing on 3 decades of experience in international trade, logistics, and risk management, the company is focused on delivering an effective mix of products and services to create sustainable value for its customers in over 50 countries.

About the Solar Division

Established in 2005, the Targray Solar Division is an international provider of PV materials and supply chain solutions for photovoltaics manufacturers, EPCs, and solar project developers. The Solar Division is committed to providing differentiated value through ongoing product and process innovation. It works collaboratively with partners on enhancing product features, lowering lead times, unlocking inventory dollars, improving cash flow and managing risk across the supply chain.

Source: PRWEB

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Olivier Benny

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Targray Opens EU Biodiesel Trading Desk in Geneva https://www.targray.com/articles/targray-opens-eu-biodiesel-trading-desk-in-geneva https://www.targray.com/articles/targray-opens-eu-biodiesel-trading-desk-in-geneva#respond Mon, 25 Feb 2019 14:48:36 +0000 https://www.targray.com/?p=12704 The Biofuels Division's European biodiesel trading desk will be headed by commodity trader Vincent Cariou and based out of Geneva, Switzerland.

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Targray’s EU biofuels business will be led by biodiesel trader Vincent Cariou. Prior to joining the company in 2019, Vincent worked for nearly 10 years at agricultural commodities company Cargill, helping optimize procurement and logistics for biodiesel, vegetable oil and soybean meal customers in the European Union.

Vincent has been intimately involved with the EU Biofuels market for many years and understands how to create sustainable value for customers,” said Andrew Richardson, President and CEO of Targray. “We are excited to add his experience, insight, and energy to our growing European biodiesel team.”

About Targray

Targray is an international leader in the sourcing, transporting, storage, financing and supply of commodities and specialty materials for renewable energy industries. Drawing on 3 decades of experience in international trade, logistics, and risk management, the company is focused on delivering an effective mix of products and services to create sustainable value for its customers in over 50 countries.

About the Biofuels Division

The Targray Biofuels Division is a major international supplier of bio-based fuels. Leveraging its extensive network of rail cars and fuel terminals, the Biofuels Division creates innovative biodiesel procurement solutions to help fuel retailers, distributors, traders and transportation firms in the U.S. and Europe grow their profits while helping create a more sustainable economy for future generations.

Source: PRWEB

Media Contact

Olivier Benny

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Targray Announces West Fargo Biodiesel Terminal https://www.targray.com/articles/fargo-biodiesel-terminal-announcement https://www.targray.com/articles/fargo-biodiesel-terminal-announcement#respond Tue, 16 Oct 2018 18:25:52 +0000 https://www.targray.com/?p=11173 Targray has announced its Fargo Biodiesel Terminal, a 24/7 fuel distribution center serving wholesale fuel buyers throughout the Fargo-Moorhead metro area.

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The Fargo terminal is an important addition to our national biodiesel distribution network.” explained Targray Biofuels Trader, Samy Cozma. “It provides a reliable local biodiesel solution for businesses operating in Fargo-Moorhead, one of the country’s fastest-growing metropolitan areas.” Cozma added that the new terminal would also help address the increased demand for bio-based diesel in Northwest Minnesota, stemming from the state’s recently amended biodiesel mandate.

On May 1st, 2018, Minnesota began requiring that all diesel fuel sold in the state contain at least twenty percent Biodiesel (B20). The minimum content for the remainder of the year is five percent (B5). The state’s move to increase the use of biodiesel, a cleaner-burning alternative to petroleum-based diesel, has received strong support from local clean air advocates, including the American Lung Association’s Upper Midwest Chapter.

Representatives from Targray’s Biofuels Division will be appearing at the North Dakota Petroleum Marketer Association’s annual event in Fargo to meet with local industry stakeholders and provide additional information on the company’s B20-ready turnkey biodiesel solutions.

About Targray Biofuels

Targray is a BQ-9000® certified marketer and distributor of high-quality B99.9 biodiesel. Supported by a dedicated rail fleet and a terminal network spanning the United States, the company is committed to providing innovative biodiesel solutions enabling fuel retailers, distributors, jobbers and fleet operators to achieve greater profitability and competitiveness while helping create a more sustainable economy for future generations.

Targray is one of the largest and fastest-growing suppliers of biodiesel in the United States. The company’s innovative biodiesel solutions are offered at over 40 tank locations throughout California and the Midwest.

Media Contact

Olivier Benny

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Grid Parity: Solar Energy Tipping Point in Europe? https://www.targray.com/articles/grid-parity-europe-solar https://www.targray.com/articles/grid-parity-europe-solar#respond Wed, 01 Aug 2018 19:20:56 +0000 https://www.targray.com/?p=10589 Targray Solar Business Analyst Justin Park takes a closer look at the implications of European grid parity for solar PV industry stakeholders.

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Grid Parity in the Solar Context

Grid parity is defined as the stage at which governments no longer need to subsidize an innovative concept since it has become cost-competitive enough to thrive on its own. In the energy context, fossil fuels are a great example of an innovation that has long received, and continues to benefit from, subsidies from governments around the world. For solar energy to become truly competitive, the price of solar-generated electricity needs to be equal to or lower than the current retail electricity price. Some European nations, notably Spain, Germany, and Italy, have already achieved commercial solar grid parity. This means the levelized cost of energy (LCOE) for self-consumed commercial solar in these jurisdictions is competitive with retail electricity prices.

Overcoming Regional Market Challenges

For the better part of two decades, eight of the world’s top ten solar companies were based in Germany. By 2012, however, China had overtaken Europe across multiple metrics, including total solar power installed, gross output in manufacturing across the value chain, and contribution to solar technology research and development. This important market shift occurred despite the implementation of strict import controls on Chinese solar panels, as high as 64.9%, designed to protect the quickly diminishing European advantage over China in the solar manufacturing space.

Brighter Days on the Horizon

While Europe may no longer be the center of PV manufacturing it once was, the continent has transitioned towards a new, exciting phase of solar integration. Emerging European markets such as Turkey – which contributed most to total solar installations in Europe with 1.79 GW in 2017 – have experienced exceptional growth in recent years, while mature markets like Germany and Spain have turned their focus towards optimizing the economic environment for solar energy to reach grid parity. Recent notable EU market developments include:

EU clean energy package legislation, which will allow EU citizens to produce, consume, sell and store renewable energy.

Robust private sector investment, with a dozen unsubsidized european projects set for completion by the end of 2018.

Power Purchase Agreements (PPA), a proven U.S. financing approach that’s quickly becoming the norm in Europe. PPA’s involve the sale of electricity to corporations for fixed, lengthy terms to provide an important revenue stream to solar project developers, who could previously only rely on the leasing and sale of solar panels for income.

The growing affordability of Energy Storage Systems (ESS), which is contributing to lowering the capital requirements for Solar PV projects, improving overall grid stability, and delivering more consistent energy output with fewer interruptions.

Europe is well-positioned to become the next investment hotbed for solar PV projects. Private, rather than public, capital investments combined with healthy returns on PPAs, is likely to boost investor confidence and drive the pursuit of large-scale renewable energy projects across Europe. And as solar assets become more profitable over time, all eyes will be on the asset owners with the healthiest solar portfolios in Europe.


For over a decade, Targray PV material solutions have played an important part in making solar a competitive alternative to traditional energy sources. The company’s value-added solar modules, solar cells, and supply chain financing programs help PV manufacturers, EPCs, and solar project developers worldwide lower the cost-per-watt their solar energy solutions can deliver to end-users.

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