Category: Corporate/Finance


Heat Transfer International, Morbark agree on partnership for waste-to-energy power generation equipment

November 8th, 2009 | Posted in Biomass

Heat Transfer InternationalHeat Transfer International (HTI) has recently announced the sale of minority equity interest to Winn, Michigan-based Morbark, and also a manufacturing agreement.

The systems developed by HTI convert biomass into energy with the use of SALT gasification. Morbark leads the market with its manufacture of size-reduction equipment for organic materials. The agreement is expected to create many jobs in the green manufacturing industry in Michigan.

The technology unique to HTI has been used in many industrial applications, and since the 1970's various gasification systems have been installed. The world's first hot air turbine, litter-to-power gasification system at Sietsema Farms Feed operation in Howard City, Michigan, is also to be commissioned in October 2009 by HTI. The feed mill is to be powered by the electricity produced by 70,000 pounds of litter created by turkeys daily, which is to be converted into electrical power. This will provide Sietsema with power that is reliable and will ensure stable energy costs in the long term.


Centrica to invest GBP 725 million to develop a 270 MW offshore wind project

October 29th, 2009 | Posted in Wind

centrica

Centrica Plc, announced it is planning to fund and develope a 270 MW offshore wind farm. The Lincs wind farm will be located about 8 km off the coast of Skegness, near Centrica's existing wind farm developments at Lynn and Inner Dowsing. It will consist of 75 3.6 MW wind turbines manufactured by Siemens. Lincs wind farm represents and investment of GBP 725 million. Completion is expected near the end of 2012.

Once completed, the Lincs wind farm will add to Centrica's equity interests in renewable energy operations and bring the total installed capacity to 650 MW. The project will allow Centrica to attract two ROCs (renewable obligation certificates) for every MWh of clean energy produced.

In addition to this development, the company has also announced it has agreed to sell a 50% equity stake in its Lynn, Inner Dowsing and Glens of Foudland wind farms to the US based investment management company TCW for GBP 84 million. Furthermore, the company has entered into agreement to raise GBP 340 million of non-recourse project finance facilities from a bank consortium. Centrica stands to make a profit of about GBP 50 million from the disposal of the 50% stake in the wind farms.

Centrica is entering a joint venture agreement with TCW to govern their new co-owner relationship for the three mentioned wind farms.

Citigroup and Deutsche Bank to advise Solar Trust of America to secure billion dollars in financing for solar thermal plants

October 23rd, 2009 | Posted in Solar

Solar Trust of America

Solar Trust of America announced that it has engaged Citigroup Global Markets and Deutsche Bank Securities as advisors to assist in securing more than $6 billion in financing for construction of multiple solar thermal power plants across the southwestern United States.

Solar Trust of America will bid to secure the competitive award of U.S. Department of Energy loan guarantees and develop models for debt and equity project financing for its proposed solar thermal power plants in California and Nevada. The company has already applied for certification with the Department of Energy and expects to begin construction in 2010.

Solar Trust of America currently has solar thermal energy power plants in advanced stages of development, among them Ridgecrest, Palen and Blythe in California and in Nevada's Amargosa Valley. In addition, the company has power purchase agreements (PPAs) in place with Southern California Edison (SCE) for development and construction of two 242-megawatt power plants, with an option to include a third 242 megawatt plant, for a total of up to 726 megawatts of capacity. These solar thermal power plants are expected to begin operation between 2013 and 2014. Solar Trust of America also has in place a Memorandum of Understanding with Nevada Energy for development and construction of at least one 242-megawatt solar thermal power plant.

First Solar now part of the S&P 500 Index

October 23rd, 2009 | Posted in Solar

First Solar now part of the S&P 500 Index

First Solar announced recently that after the market closed on October 15th, the company's common stock was added to the S&P 500 Index.

This represents an important turning point for the solar industry as First Solar is the first pure play renewable energy company that has been added to the index.

First Solar creates comprehensive PV system solutions and advanced semiconductor technology. The company is also working hard on decreasing the costs of manufacturing and thereby making solar power a cheap and environmentally friendly alternative to fossil-fuels.

Technipower extends its relationship with UK's EnviroBoat to establish Instant Solar distributor in Europe

October 23rd, 2009 | Posted in Solar

Technipower Systems - EnviroBoat

Technipower Systems, formerly Solomon Technologies, has established an Instant Solar distributor in Europe by expanding its existing distributor relationship with UK's EnviroBoat Developments. As part of the promotional plan, EnviroBoat will demonstrate a 1.8kW Instant Solar system in a high visibility UK location with further demonstrations planned across Europe.

Commenting on the announcement, Technipower's Dan Connors said: "We are moving quickly on our Instant Solar launch with the international markets being an integral part of the plan. Using our existing international sales channels is extremely helpful in quickly bringing this new product to market. The synergy with EnviroBoat's existing renewable energy focus is strong and the European market is acutely attuned to the need for clean, non-fossil fuel energy sources. We look forward to shipping the first units internationally this quarter."

Siemens acquires Solel Solar Systems

October 23rd, 2009 | Posted in General
Solar field of a parabolic trough power plant in the Mojave desert.

Solar field of a parabolic trough power plant in the Mojave desert.

Thermal power company Solel Solar Systems is soon to change hands with Siemens acquiring the majority stake. Ecofin, an investment firm based in London, and another major shareholder held the majority stake up until this point.

Solel Solar Systems is among the top two leading suppliers of solar receivers in the world, with a workforce of 500. Solar receivers are the key component of parabolic trough power plants. In the first six months of its current fiscal year (January 1 to June 30 2009), the company posted a revenue of about $90 million. The planning and construction of solar fields are also a strong point of the company. The purchase price of the majority stake is around $418 million, and the proper authorities need to approve the transaction. The closing of the deal is expected to take place by the end of this year.

Solel has seen a lot of success in the solar power sector, and the company already has decades of experience in developing and manufacturing solar field equipment as well as the construction and planning of solar fields. Solel has also made itself present on the Spanish market by supplying solar thermal power plants with key components to 15 power plants that account to capacity of 750 megawatt. The U.S. market is one of the most important in the world, and Solel is also very active there…

Solar Edge gets boost from GE's $23 million funding

October 23rd, 2009 | Posted in Solar

A $23 million funding round to support SolarEdge's development of residential and large-scale photovoltaic sites has been made by GE Energy Financial Services.

Solar EdgeGE Energy Financial Services is investing in Israel for the first time, and this announcement was made at the GE Global Research, during a media forum on clean tech venture capital investing, at the GE's research and technology development center in Niskayuna, New York.

The energy output and cost efficiency of solar PV units is maximized with SolarEdge's holistic power harvesting and monitoring technology. BP Solar, Schott Solar, Isofoton, HaWi Energitechnik, Gehrlicher solar are among some of the companies that the company has been working with to embed their technology into solar panels, increasing their power output by 25% and providing superior monitoring and control, without an increase in cost.

Alex Urquhart, President and CEO of GE Energy Financial Services, said at the GE venture capital media forum, "Our investment in SolarEdge reflects our confidence in the company's ability to thrive in the growing global solar industry. SolarEdge is a smart company, with smart technology that fits well with GE's ecomagination program to help customers meet their environmental challenges. We view this investment as the beginning of a broader collaboration between GE and SolarEdge that could include joint product development and distribution."

Aleo Solar opens office in Aix-en-Provence, France

October 23rd, 2009 | Posted in Solar

aleo logoWith a significant increase in business on the French market, aleo solar has announced that it will be opening a sales office in the country to strengthen its presence. Business in France is managed from an office in Aix-en-Provence as of the 16th of October.

The orders in France from aleo solar AG has been at the megawatt-scale in the last few months. Integrated photovoltaics require a higher feed-in tariff, which has lead aleo solar to develop an in-roof system of its own. All of the parts needed for a roof-integrated 3 KW photovoltaic system are found in the Kit_3000, which is an all-in-one photovoltaics package. The installation is also simple and fast as a result of the 16 high-yield aleo modules, an SMA inverter, as well as a lighting protection system and the Solrif mounting system. Not surprisingly, there was a lot of interest shown toward the Kit_3000 at aleo's presentation at the trade fairs in Lyon and Paris.

Local support for installers is provided by six aleo sales represents, regardless of whether they are based in mainland France or at overseas departments. The "aleo power network" is a community that provides photovoltaics knowledge and marketing support, of which all aleo dealers are a member of. When venturing into specialist subjects like system layout, economic viability analysis or the mounting of solar power plants, specialist training is provided.

France has already been an important market for aleo solar, and this is expected to continue in the future.

Electrawinds awarded investor certificate in Bulgaria

October 16th, 2009 | Posted in General
Image: Electrawinds

Image: Electrawinds

Electrawinds announced it has received the First Class Investor certificate from the Invest Bulgaria Agency. This award represents a quality seal with the intention to support foreign investors in the development of new projects in Bulgaria.

This certificate was first awarded in 2004, and is given to companies that provide additional employment and new investments in Bulgaria. So far, some 70 companies have been awarded this certificate. The Bulgarian government has committed to giving support to new investors, especially in the administrative domain.

Electrawinds got the certificate for its development of several wind farms in the area of the city of Bourgas. Currently, wind measurements are being done to collect data upon which assessments will be made and appropriate directions taken in further development of wind power facilities.

So far, Electrawinds has operations in Belgium, its home country, Italy and France. Bulgaria will be the fourth region where the company will become present with wind power projects.

Sempra Generation acquired Auwahi Wind Energy and its Hawaii wind power project

October 16th, 2009 | Posted in Wind

sempraSempra Generation announced the acquisition of Auwahi Wind Energy, a company developing a 22 MW wind energy and battery storage project in Hawaii. The company was acquired from Shell WindEnergy, a subsidiary of Royal Dutch Shell.

Construction of the Auwahi wind energy project could begin in 2011, with commercial operation beginning in 2012. The wind farm is to be located on the Ulapalakua Ranch in the southeaster region of Maui. The storage facility is capable of storing about 28 MWh of energy and can be used to regulate peak consumption hours, as well as smooth out the intermittent availability of wind derived electricity, providing grid stability for Maui Electric. Sempra is planning to expand the capacity of the storage facility to 72 Mwh.

Shell WindEnergy decided to sell its Hawaiian wind assets in order to concentrate more on developments in mainland US and Canada. Maui's plan is to reach "95% of electricity from renewable energy by 2020".

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