Perhaps the biggest investor story of the week was the news that LG Electronics (066570.KS) and Conergy AG (CGY.DE) have signed a memorandum of understanding (MOU) to form a joint venture in the solar module manufacturing business. The (MOU) is non-binding, but if the deal goes through, LG would acquire a 75% stake in Conergy’s solar module plant in Frankfurt and a big foot in the door of the solar industry.
Another big solar deal took place this week between LDK Solar (NYSE: LDK) and Japan-based Sumitomo Corporation. LDK will supply 750 megawatts (MW) of silicon wafers to Sumitomo over the next 8 years. Sumitomo is a trading house that intends to resell the wafers to solar cell makers in Japan.
Also in the solar industry, Enphase Energy, Inc. a developer and manufacturer of solar micro-inverter systems, has raised $15 million in new funding to expand manufacturing of its products. The company says its micro inverters increase efficiency over a single inverter for a solar power system and provide remote monitoring information via a secure website.
German conglomerate Siemens AG (NYSE: SI) announced the single largest wind power deal in the company’s history. They will supplly German utility E.ON AG (EON.L) with 500 wind turbines for planned projects in Europe and the U.S. The 2.3 MW turbines will have a combine power capacity of 1,150 MW.
Reno-based geothermal developer Ormat Technologies inc. (NYSE: ORA) paid $3.5 million for the exploration rights to develop geothermal around Mount Spurr, an active volcano 75 miles west of Anchorage, Alaska.
Fisker Automotive annouced $65 million in Series C financing from Qatar Investment Authority, among others. The premium ‘green’ automaker said it expects to begin deliveries of its four-door, plug-in hybrid in 4Q09.
Investment bank Morgan Stanley (NYSE: MS) increased its stake in Singapore-based tidal power company Atlantis Resources Corporation, which is working to develop turbine arrays to harness the power of ocean currents. Morgan Stanley is now the largest shareholder in the Singapore-based company.
Finally, this new design for a residential wind turbine, called an Energy Ball, caught our eye. Reportedly it is quieter than traditional designs and can operate at lower wind speeds. Live Science reports on the Dutch based company, Home Energy International.
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