Category: Corporate/Finance


Taiwan-based Motech acquires GE Energy's PV module factory

January 6th, 2010 | Posted in Solar

MotechTaiwan-based solar cell maker Motech Industries has recently announced the acquisition of a crystalline silicon PV module assembly factory located in Newark, Delaware, U.S. from GE Energy for $4.535 million. The transaction is expected to be completed this month and Motech said it will maintain the existing operation of the factory and provide warranty service for GE Energy's existing clients. Under the terms of the deal, Motech will be able to use the GE Energy trademark for PV modules for two years.

For the record, Motech has been a solar cell supplier for GE Energy for four years, and it expects that this move will help it tap the U.S. PV market.

[Via: DigiTimes]


EDP Renováveis signs agreement with JPM Capital for USD 90 million

December 29th, 2009 | Posted in Wind

lost-lakes-wind-farm-logoEDP Renováveis' subsidiary, Horizon Wind, has signed an agreement with JPM Capital to secure USD 90 million of institutional equity financing from JPM Capital Corporation, which is to get a partial interest in Horizon Wind's 101 MW Lost Lakes wind farm project, installed in December this year in Iowa, USA. Lost Lakes features 61 Vestas V82 1.65 MW wind turbines, and is able to generate clean electricity for about 30,000 average homes in the state.

The new investment will allow the investor to tap the accelerated asset tax depreciation (MACRS) benefits and the cash grant. The Lost Lakes wind farm project will apply for these benefits and the grant through the American Recovery and Reinvestment Act. This will be EDP Renováveis' second institutional equity transaction with JPM Capital Corporation. The company will improve project economics and the company's fiscal efficency.

[source: Horizon Wind]

BWEA is now RenwableUK – extends renewable energy coverage

December 24th, 2009 | Posted in General

bweaThe British Wind Energy Association (BWEA) is now officially RenewableUK, having officially adopted a new logo and name. The organization, started 31 years ago, to deal with the development of wind energy in the UK, has later (last five years) grown into a representative body for companies involved in the tidal and wave energy sector.

RenewableUK will take on a broader mission – to help promote and develop renewable energy in the UK. The organization will continue to engage at the highest level with the government and media. RenewableUK is hoping to become the voice of authority for the renewable energy sector and a credible source of information and knowledge.

[source: BWEA/RenewableUK]

Neo Solar Power upgrades capacity expansion to 360 MW

December 17th, 2009 | Posted in Solar

Neo Solar Power

Neo Solar Power Corporation (NSP) recently unveiled plans to upgrade its 2010 capacity from 240 MW to 600 MW, representing a 150% increase from 2009.

For the 360 MW expansion, NSP estimates a total capital expenditure of NT$2.7 billion, which the company will support from its solid-standing internal capital.

It is expected that the demand in 2010 mainly come from major markets in Germany, Japan, China, and the U.S.

[source: Neo Solar Power]

Soitec acquires 80% of Concentrix Solar to enter the solar energy market

December 17th, 2009 | Posted in Solar

Soitec acquires 80% of Concentrix Solar

The Soitec Group has signed an agreement to acquire privately held Concentrix Solar, in an effort to enter the fast-growing solar industry, capture value through the system level and expand its revenue base as worldwide demand for CPV systems grows.

It is believed that Soitec's technologies in engineered substrates, which are key to improving solar cell performance, complement Concentrix's expertise in high-efficiency CPV systems for solar power plants. As a result, more attractive and competitive value proposition will be delivered to satisfy the growing needs of renewable energy. Additionally, the transaction includes access to the high-efficiency concentrator solar cell technologies from the Fraunhofer Institute for Solar Energy Systems ISE. Simultaneously, Soitec has signed a strategic technology alliance with Fraunhofer ISE and the CEA-Leti.

In total, Soitec has acquired circa 80% of the shares, valuing 100% of Concentrix at 55 million EUR. The remaining 20% of the shares are owned by the Fraunhofer ISE and the company's founders and senior management. Upon closing of the transaction, Concentrix will retain its staff and will operate within a new PV business unit of the Soitec Group.

Morgan Stanley acted as exclusive financial advisor and Winston & Strawn as exclusive legal advisor to Soitec in the transaction.

[source: Soitec]

United Technologies to acquire 49.5% in Clipper Windpower

December 15th, 2009 | Posted in Wind

United Technologies to acquire 49.5% in Clipper Windpower

United Technologies (UTC) has agreed to acquire a 49.5% stake in California-based wind turbine maker – Clipper Windpower.

UTC's total investment will be 166 million GBP (about $270 million) to purchase a combination of 84.3 million newly issued shares and 21.8 million shares from existing shareowners. The investment has been approved by the boards of directors of both companies, and closing is pending Clipper Windpower shareholder and regulatory approval.

The agreement allows UTC to expand its power generation portfolio and enter the ever-growing wind power segment. The company will be working closely with Clipper Windpower to improve the core technology, manufacturing, product quality, and supply management capabilities; leveraging UTC's expertise in blade technology, turbines and gearbox design…

[source: United Technologies]

GE invests in an Oklahoma wind farm and established wind farm portfolio

December 4th, 2009 | Posted in Wind

GE Energy Financial Services has made two investments in the wind energy sector in the United States. One investment, USD 117 million, was made in an Oklahoma based wind farm. Horizon Wind Energy is developing Blue Canyon, a 225 MW wind farm in near Lawton and Elgin in Comanche County and Apache in Caddo County, southwest Oklahoma. The project has been in operation since last month, and the company used GE's 1.5 MW wind turbines. All generated power is exported to the Public Service Company of Oklahoma under a 20-year power purchase agreement. The facility is capable of generating power supply for about 30,000 average homes.

oklahoma-wind-map-undeerc.org

The second investment, USD 111 million, was made to join a previously closed transaction, the Vento III, which is actually a portfolio consisting of three wind farms, totalling in 604 MW of capacity. These are the Rattlesnake Road (103 MW, Oregon), Meridian Way (201 MW, Kansas) and Pioneer Prairie (300 MW, Iowa).

GE Energy Fianncial Services currently has about USD 4 billion in wind energy investments, with plans to expand this to USD 6 billion by the end of 2010. These investments will include wind, solar, hydro, biomass and geothermal projects.

[source: GE, image: University of North Dakota]

Bosch Solar Energy and Allianz Climate Solutions collaborate on major projects

December 3rd, 2009 | Posted in Solar

Bosch and Allianz

Bosch Solar Energy and Allianz Climate Solutions have signed a partnership agreement to plan, finance and turnkey the construction of PV power stations. The output of these large-scale systems is expected to be at least one megawatt, providing enough energy for about 250 four-person homes per power station.

Allianz Climate Solutions is the advisor of investors on PV projects worldwide, and its parent company Allianz is expecting to invest about 500 million Euros into the sector by 2012. Bosch Solar Energy is a full provider of PV technologies and will be contributing its knowledge to help with the production of high-end solar cells and modules as part of the partnership. The Bosch subsidiary will also be responsible for the technical aspect of operation, including plans for turnkey construction of large-scale systems.

[source: Bosch]

EIB loans a total of EUR 270 million in renewable energy projects in Pakistan and Iceland

November 26th, 2009 | Posted in General

eibThe European Investment Bank (EIB) announced a loan worth EUR 100 million to the Islamic Republic of Pakistan as partial finance for renewable energy projects in the country. The investment operation is being co-financed in cooperation with the Asian Development Bank (ADB).

The lending operation has been structured as a framework plan, which grants support from the EIB for a series of investments in Pakistan's renewable energy sector. This is only a part of much larger financial plan set up by the Pakistani government, involving some USD 2.2 billion. This is the fifth lending operation between EIB and Pakistan, the first having happened back in 1993.

EIB made another loan, EUR 170 million, to Iceland for the purpose of devcelopment of a geothermal energy project. The loan was made to Orkuveita Reykjavikur (Reykjavik Energy), which the company will use to expand its geothermal capacity.

The financing is aimed at further development of the Hellisheidi geothermal complex, which will add 90 MW to the existing capacity, but also for a completely new geothermal project also to have 90 MW of installed capacity. The expansions are planned to supply energy for aluminum smelting operations, an existing one, and a new one to be built soon.

[source: European Investment Bank]

Cannon Power Group mandates Deutsche Bank for financing its Windy Point/Wind Flats project

November 21st, 2009 | Posted in Wind

Cannon Power Group (San Diego, California) has mandated Deutsche Bank's Trust & Securities Services, which is part of the bank's Global Transaction Banking division, to act as the Administrative Agent and Collateral Agent for the USD 652 million project financing for Cannon Group's Windy Point/Wind Flats project. The wind farm is currently under construction in Washington State, on the Columbia River. Construction of Windy Point started earlier this year.

Paysage from the Windy Point/Windy Flats wind farm site. (Image: Cannon Power Group)

Paysage from the Windy Point/Windy Flats wind farm site. (Image: Cannon Power Group)

Upon completion of construction work, Wind Point/Wind Flats wind farm will have 500 MW of installed capacity, making it one of the largest on-shore wind farms in North America. It will be able to generate clean electricity for about 250,000 average households in the region.

Deutsche Bank is prociding a comprehensive Administrative Agent service, a very much needed service in order to manage such a large and complex project. In order to help the smooth closing of the transaction, the Deutsche Bank established a USD 150 million escrow account for the project and provided two letters of credit.

[source: Duetsche Bank]

 Page 25 of 38  « First  ... « 23  24  25  26  27 » ...  Last »