Total announced an agreement with EDF under which Total has acquired the remaining 50% share in Tenesol, of which Total already owned a 50% share. This acquisition puts Total in charge of Tenesol's French domestic operations. Overseas department and territory operations are still 50% owned by EDF.
Category: Corporate/Finance
Total acquires Tenesol and its domestic operations
April 16th, 2011 | Posted in General SolarUS DoE offers USD 1.187 billion loan for California Valley Solar Ranch
April 13th, 2011 | Posted in Solar
The US Department of Energy has offered a USD 1.187 billion conditional commitment for a long guarantee for the California Valley Solar Ranch, a 250 MW solar power plant to be built in California. Once completed, the project will produce enough clean power to supply about 100,000 average homes. The project is owned by NRG Energy, while SunPower is the project sponsor. The two companies announced they will jointly develop the California Valley Solar Ranch project last November.
Statkraft signs PPA with DONG Naturgas for 50% of output from several offshore wind farms
April 13th, 2011 | Posted in Wind
Statkraft announced the company has signed a new power purchase agreement with DONG Naturgas worth GBP 160 million. Under the terms of the new PPA Statkraft will purchase 50% of the power production from DONG Energy's Burbo Bank, Gunfleet Sands, Walney and London Array offshore wind farms.
JA Solar in strategic partnership with Jabil for up to 400 MW of modules
April 5th, 2011 | Posted in Solar
JA Solar announced the company has entered into a strategic two-year partnership with Jabil, a US based global electronic product solutions company. Under the terms of the partnership, JA Solar expects to supply Jabil with up to 400 MW of solar cells over the next two years. Additionally, JA Solar will supply certified module designs for the manufacturing of 200 MW of solar modules annually, using JA Solar cells.
PNE Wind and Vestas in exclusive cooperation over North Sea projects
March 16th, 2011 | Posted in General Wind
German wind farm developer PNE Wind, and Danish wind turbine manufacturer Vestas are going to cooperate on offshore wind farms in the North Sea, under an exclusive cooperation agreement. Recently, PNE Wind announced Vestas as the supplier of turbines for the Gode Wind II project for which PNE Wind has submitted documentation to TenneT. Construction of the wind farm is to begin in 2012.
AMSC to acquire The Switch – creates opportunity for new markets and technologies
March 14th, 2011 | Posted in General
AMSC announced the company has signed a definitive agreement to acquire Finnish power technology company The Switch Engineering Oy for USD 265 million (EUR 190 million). The new acquisition could directly effect the company's revenue projections and add USD 1 billion in annual revenues. The Switch opens up a whole range of new possibilities for revenue for AMSC. These opportunities include a broader penetration into the Chinese wind energy market, as well as new markets involving permanent magnet generators (PMG), electrical control systems (EPS) and power converter systems (PCS).
BP expanding biofuel operations in Brazil
March 14th, 2011 | Posted in Biomass
BP announced the company is to acquire a majority stake in Brazilian ethanol and sugar producer Companhia Nacional de Açúcar e Álcool (CNAA) from Açúcar e Álcool Fundo de Investimento em Participações and Açúcar e Álcool II Fundo de Investimento em Participações, thus expanding the company's production capacity in Brazil to about 9 million barrels of ethanol (equivalent). BP will pay about USD 680 million for an 83% stake in CNAA, and will refinance the full amount of the company's outstanding long term debt.
Iberdrola to merge with its subsidiary Iberdrola Renovables
March 11th, 2011 | Posted in General
Iberdrola has entered into negotiations for a merger by absorption of its renewables subsidiary Iberdrola Renovables. Iberdrola proposes a 0.499 own against subsidiary share ration, valuing Iberdrola Renovables' shares at EUR 2.978, or 16.7% more than the average value of the subsidiary's shares in the last six months. The share ratio could be decreased to 0.299 if the extraordinary dividend proposed by Iberdrola Renovables' board is approved. The merger should take place in July this year.
Magma Energy and Plutonic Power are now Alterra Power
March 7th, 2011 | Posted in General
Magma Energy Corporation and Plutonic Power Corporation announced the companies have entered into an arrangement agreement to merge and form a new company called Alterra Power Corporation. The new company will have a port-merger marketing capitalization of about USD 575 million.
All Plutonic Power shareholders will receive 2.38 shares of Magma Energy, and Magma will change its name to Alterra Power. The conclusion of the merger will result in 470 million shares of Alterra Power Corporation issued and outstanding and 487 million shares on a fully diluted basis. The merger incorporates several renewable energy sectors in which the companies were holding assets – geothermal, hydro and wind energy at locations in the US, Canada and Iceland. Additionally, there is an option on a solar project in Ontario, Canada.
Solar Millenium issues corporate bond to raise cash for major solar projects in US
March 7th, 2011 | Posted in General
Solar Millenium announced the company has issued a corporate bond with a EUR 100 million volume. Subscribers to this bond will have a 6% p.a., with a five-year term and annual interest payments. The company says this has been a proven way for companies to raise funding for expansion and project development. The minimum subscription limit for this bond is EUR 1000. The bond will be placed on the open market, and will be tradable, as was the case with previous bonds issued by the company.
