Norwegian solar company Renewable Energy Corporation ASA (REC.OL) was the biggest mover-and-shaker in the cleantech news over the last couple weeks.
The company grabbed three separate headlines, beginning with its plans to invest US$2.5 billion dollars to build an integrated production facility for solar wafers, cells and modules in Singapore.
Then the company, which is one of the world’s largest producers of
polysilicon and wafers for the solar industry, announced plans to expand production
of photovoltaic wafers from its Norwegian facilities by 100 megawatts
(MW), putting the company on track for production of around 1.75
gigawatts in 2011.
Finally, in a much smaller, but significant deal, startup solar company Suniva, Inc. announced a long-term agreement to purchase solar wafers from REC–worth up to $300 million–for production at its new facility in Atlanta, Ga.
Massachusetts-based Evergreen Solar, Inc. (Nasdaq:ESLR)
also made a couple of big announcements. The company is set to begin
production of solar panels at its new facility in Devens, Mass. in July
and already it has a contractual backlog worth approximately $1.7
billion. The latest addtions to this total were two deals worth $600 million–one with U.S.-based grosolar, and the other with German-based Wagner& Co. Solartechnik.
Evergreen Solar also announced plans to sell $300 million worth of senior convertible notes due in 2013–the proceeds from which will be used in part to pay for the completion of the Devens facility.
In other solar news, SunRun, a San Francisco-based company selling solar electricity as a service, raised $12 million in funding.
The company installs, owns and maintains residential and commercial
solar installations, selling the power at a set rate to the home or
business owner.
The wind-power industry had several big headlines as well.
Duke Energy (NYSE: DUK) significantly increased its wind energy operations by acquiring Catamount Energy Corporation for $240 million.
Inida-based Suzlon Energy Ltd., one of the largest wind turbine manufacturers in the world, expanded its stake in REpower Systems of Germany to 66%. REpower is known for making very large wind turbines.
Spanish renewable energy developer Iberdrola Renewables and turbine maker Gamesa (GTQ1.DE) signed the largest ever contract
for wind turbines. Gamesa will supply turbines with a capacity of 4,500
MW of power generating capacity between 2010 and 2012 for Iberdrola’s
international projects. The contract is worth approximately 6.3 billion
euros.
Investors now have an option of two wind power exchange traded funds (ETFs) recently filed with the SEC. One is managed by First Trust Advisors and the other by Invesco Power Shares.
Two new stock indexes will track the fortunes of sustainable companies around the globe. Cronus Capital Markets’ BetterWorl Stock Index will cover Canadian companies in green energy, green construction, environmental technology and other green industries.
FTSE Group and the environmental investment company Impax Group plc have launched the FTSE Environmental Opportunities All-Share Index covering 450 companies around the globe.
And finally, Canadian fuel-cell company Ballard Power Sytems (BLD.TO; Nasdaq: BLDP) announced 1Q results that included the sale of its automotive unit to Daimler AG (NYSE: DAI) and Ford Motor Company (NYSE: F).
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