New Solar Venture Capital Fund
Solar Development Capital (SDC) is a 10-year, $28.75 million private equity fund designed to invest globally in PV-related businesses. It will be managed by Triodos PV Partners and invest in companies that distribute PV products or services in unelectrified rural areas in developing nations.
Most companies will provide customer leasing or credit that extends payments to overcome the initial expense of installing PV systems. SDC is working with the Solar Development Foundation to support entrepreneurs with funding for management, technical and market assistance. Projects have been identified in Africa, Asia and Latin America.
Lead investors are the International Finance Corporation (for its own account and acting on behalf of the Global Environment Facility), the Swiss State Secretariat for Economic Affairs and Triodos Groenfonds. Other investors include AstroPower, Inc., Calvert World Values International Equity Fund, Cordaid, Rabo Sustainability Fund and the Wind Fund.
The World Bank Group and several charitable foundations initiated the Solar Development program. Management was awarded to Triodos PV Partners, formed by Triodos Bank Group, Environmental Enterprises, and Global Transition Consulting, who collectively have $280M under management and broad experience with PV businesses.
See our Business Opportunities section for a list of VCs that invest in environmental companies.
Shari Friedman, Stichting Triodos PV Partners: 703-522-5928 X212; sdcf@igc.org
Thomas Steiner, +31 30 693 65 00; sdc@triodos.nl
Green Power Leadership Awards
To recognize the actions of individuals and organizations that significantly advance the development of renewable electricity sources, the U.S. Environmental Protection Agency, Department of Energy, and the Center for Resource Solutions are sponsoring the 1st annual Green Power Leadership Awards. Winners will be recognized at an awards dinner on July 30th during the Sixth Annual Green Power Marketing Conference in Portland, Oregon.
There will be awards for Green Power Purchasers and for Building Green Power Demand (Marketers, Organizations, and Individuals).
Kri Bolding, CRS Communications Director, 415-561-2100, kbolding@resource-solutions.org/
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State by State Windpower Incentives
AWEA (American Wind Energy Association) has compiled an index of state incentives for wind power development. The inventory is organized on a state-by-state basis and includes information on local wind resources and financial, economic, and regulatory incentives for wind energy in each state.
Renewable Energy Portfolio requirements, such as that adopted in Texas, are one of the most effective strategies. Other common strategies are tax credits, low interest loans, research programs, and legislative requirements.
According to the report, at least 20 states have untapped wind energy potential that would be spurred by incentives.
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