Corporate/Finance | Renewbl.com

Category: Corporate/Finance

Partnsership formed to produce aviation biofuel in Australia

July 8th, 2011 | Posted in Biomass

Virgin Australia and Renewable Oil Corporation have formed a partnership to produce a sustainable aviation biofuel. The companies plan to produce biofuel from mallees, a eucalypt tree which can be grown in a sustainable manner in various parts of Australia. The innovative process called fast pyrolysis, developed by Dynamotive, will be used to process mallees and transform them into biofuel. The goal of this partnership, which brings together various companies with special expertise, will aim to commercialize the new biofuel in Western Australia.

Solar Millenium changes name to STA Development

July 6th, 2011 | Posted in Solar

Solar Millenium, the wholly owned development company of Solar Trust of America, is changing its name to STA Development, as part of STA's new corporate naming convention and structure. The company, involved in the development of the 1000 MW Blythe solar project, along with other members of the STA group of companies will be rebranded with changes taking effect immediately. STA stated the new changes come as the company has grown and continues to grow and evolve into a "uniquely American solar company".

RWE selling npower and other assets to cut debt

July 6th, 2011 | Posted in General

There had been reports that RWE may be planning to sell npower, its UK subsidiary, and one of the largest energy suppliers in the country, for about GBP 5 billion. RWE is trying to cut its debt, and is selling various assets, with a plan to raise about EUR 8 billion (USD 11 billion). The most likely buyer for npower is Spanish Iberdrola. If this turns out to be true, Iberdrola will have acquired a company which employs 11000 people, and supplies about 6.8 million homes in Britain with electricity. Additionally, npower has significant involvement in the renewable energy sector in the UK, including offshore wnid projects such as the Galloper wind farm project (Round 2) and Gwynt y Mor, but also in Round 3 offshore wind projects. It is not clear however, whether Iberdrola will get these projects as part of this acquisition, should it really happen.

Statoil selling onshore wind assets in Norway – moves focus on offshore wind

June 28th, 2011 | Posted in General Wind

Statoil is moving its wind energy sector focus towards offshore wind energy. The company has announced the sale of its onshore wind assets in Norway, under two sales agreements for partial ownership stakes in Sarepta Energi (50%), and wind power projects in Finnmark. The sale is part of the company's strategy to switch its focus on offshore wind energy, as a way to better utilize the company's core capabilities in the offshore sector.

Alstom acquires 40% stake in AWS Ocean Energy

June 23rd, 2011 | Posted in Hydro

Alstom is to acquire a 40% stake in the Scottish marine energy developer AWS Ocean Energy, as was officially announced by Scotland's First Minister Alex Salmond at an event held in Edinburgh Castle. This investment is Alstom's first in the wave energy sector, and represents a significant boost for AWS Ocean Energy. The company will now be able to accelerate the commercial development of its wave energy harnessing technology.

EDP Renovaveis executes project finances for two wind farms in Romania

June 22nd, 2011 | Posted in Wind

EDP Renovaveis announced the company has executed project finances for two wind farms built in Romania, totalling in 138 MW of installed capacity. The two wind farms, Cernavoda I and II, each with 69 MW of installed capacity, had a long term debt facility amounting to EUR 115 million. The transaction financial close is expected to happen in Q3 2011.

Chiyoda and Archimede Solar Energy to develop CSP projects in the MENA region

June 20th, 2011 | Posted in Solar

Chiyoda Corporation (Japan) and Archimede Solar Energy (ASE, Italy) have entered into a cooperation agreement to jointly pursue business opportunties for concentrated solar power development in the MENA region. ASE, 45% owned by Siemens, will supply parabolic trough technology for the projects, while Chiyoda will serve as the EPC contractor for project execution.

McGraw-Hill developing 14 MW commercial solar park on its New Jersey campus

June 14th, 2011 | Posted in Solar

McGraw-Hill is developing a 14.1 MW solar park on the grounds of the company's campus in East Windsor, New Jersey, adjacent to the company's buildings and data center. The project is being developed in collaboration with NJR Energy (New Jersey Resources), a provider of renewable energy and natural gas services. Once completed and operational, the McGraw-Hill anticipates a 10% reduction in the company's annual carbon emissions, as well as a smaller electricity bill.

Nevada Geothermal acquires Iceland America Energy geothermal assets in Imperial Valley

June 9th, 2011 | Posted in Geothermal

Nevada Geothermal Power (NGP) announced the company has reached an agreement with Iceland America Energy to acquire 100% of IAE's geothermal assets in Imperial Valley, California. The assets include three locations – New Truckhaven, East Brawley and South Brawley projects. NGP has agreed to pay a cash amount of USD 680,000 and to issue 6,074,069 shares as the remainder of the payment amount. Iceland America Energy is 83.7% owned by Reykjavik Energy Investment, subsidiary of Reykjavik Energy, which will now become a "significant" shareholder in Nevada Geothermal Power.

SeaEnergy signs conditional agreement for sale of SeaEnergy Renewables to Repsol

June 7th, 2011 | Posted in Wind

SeaEnergy and Repsol have signed a conditional agreement under which SeaEnergy will dispose of its 80.13% interest in SeaEnergy Renewables (SERL) by selling it to Repsol. SERL has interests in three offshore wind farm projects, off the coast of Scotland. SeaEnergy will receive about GBP 30.7 million for this part, and another GBP 8.1 million as recuperation of initial investment in the company. The rest of the share capital, owned by SERL's management, will also be acquired by Repsol. SERL has been estimated to be worth about GBP 50 million in total, a value SeaEnergy reached in three, since 2008 when it started SERL as a separate business.