Siemens has increased its stake in the UK based marine energy technology company Marine Current Turbines. Now owning a majorty stake in the company, Siemens will continue with the drive towars commercialization of the new technology for harnessing energy from marine currents. As this renewable energy market segment evolves, Siemens wants to make sure the company holds a leading position in the future.
Mitsubishi Corporation has purchased a 49% stake in two German offshore cable transmission projects from TenneT Holding BV. The two projects are BorWin1 and BorWin2. Total costs of both projects is about EUR 1.2 billion. Two grid connections will be developed by TenneT, with 1.2 GW of capacity. TenneT and Mitsubishi will maintain and operate about 400 km of cables and tranformers for 20 years, as regulated under German laws.
E.ON and Enviva have entered into a wood pellet supply agreement. Enviva is to supply E.ON with 240,000 metric tons of pellets annually, for several years. The contract is to begin in 2013.
ABB, 4R Energy, Nissan NA and the Sumitomo Corporation of America have found a way to extend the life of old Nissan LEAF batteries by using them for energy storage in future local community smart grids. The partners are evaluating and testing ways of reusing the Li-ion batteries in residential and commercial energy storage applications.
Visualization of an AWS-III powered wave farm.
Alstom and Scottish and Southern Energy Renewables have entered into an agreement to form a joint venture to develop what's touted as the world's largest wave energy farm, with up to 200 MW of installed capacity. The project is to be developed off the coast of Orkney, Scotland, in the Pentland Firth and Orkney Waters Strategic Area, governed by The Crown Estate.
German private investment funds, Terra Nex and Middle East Best Select (MEBS) are planning to invest USD 2 billion in Oman for the development of 400 MW of solar power capacity. Additionally, this investment will also cover manufacturing facilities for solar panels, which will produce solar panels for both domestic needs and for exporting to other markets.
Vestas announced a reorganization of the company's activities in order to reduce fixed costs by more than EUR 150 million, which is to reach full effect near the end of 2012. Most of the cost cutting measures include streamlining of support functions in the company, but also through closing of factories in accordance with the state of demand in the wind energy market in the coming months.
MPX (Brazil) and E.ON have entered into an agreement to form an equally owned joint venture for energy development and supply and trade activities in Brazil and Chile. The new partnership will aim to develop 20 GW of new power generating capacity in the two South American countries. This figure represents about 20% of the total current capacity in Brazil. The new JV will be responsible for developing both thermal energy and renewable energy sources.
REpower has acquired the remaining 49% stake in PowerBlades, putting the German offshore wind turbine blade manufacturer completely under its control. PowerBlades was started in 2007 as a joint venture between REpower (51%) and SGL Rotec (49%).
Sempra US Gas & Power and BP Wind Energy are expanding their strategic partnership in wind energy by agreeing to jointly develop the Mehoopany wind farm in Pennsylvania and the Flat Ridge 2 wind farm in Kansas. Both projects represent a combined investment of about USD 1 billion, with a total of 560 MW of installed capacity.
