Our summary of top headlines stretches back to the week of Thanksgiving.
Silicon manufacturer Globe Specialty Metals Inc. (NASDAQ: GSM)
reopened its Niagara Falls plant, investing $27 million and creating
138 jobs as part of the first phase of a larger economic
development project meant to draw solar cell manufacturers to upstate New York. Empire State Development (ESD) and the New York Power Authority (NYPA)
are supplying Globe Specialty with 40 megawatts (MW) of hydropower and up to $25 million in benefits in exchange for the right to offer 25% of the plant’s output at reduced prices to companies that set up shop in the region. The next phase of the project calls for construction of a new
$35 million facility to convert
Globe’s metallurgical grade silicon into 4,000 tons of upgraded
metallurgical grade silicon each year–that’s roughly enough to produce 500MW of solar
power.
Not far away, thin-film solar company Heliosphera plans to open a manufacturing
facility in Philadelphia’s Navy Yard, according to an announcement made this week by Pennsylvania Governor Edward Rendell. The state provided the Heliosphera with a $49 million funding offer that is expected to result in the creation of 400 jobs. Details weren’t immediately available as the size or timeline for construction of the facility. In September, Heliosphera began operations at its first commercial production plant in Peloponnesus, Greece.
Canadian Solar Inc. (Nasdaq: CSIQ) announced plans to build a 200-megawatt (MW) solar module assembly plant in Ontario. The majority of the company’s manufacturing is currently in China. However, the company’s turnkey solar developer, Candian Solar Solutions, is already based in Ontario. The solar and wind industries are ramping up quickly in Ontario as a result of the feed-in tariff established this fall. Canadian Solar said it expects to spend C$24 million on the new facility and begin operations sometime in 2010.
A subsidiary of Ohio-based FirstEnergy Corp. (NYSE: FE) has purchased the rights to
develop a compressed-air electric generating plant in Norton, Ohio. CAES Development Company, LLC previously owned the rights, and financial terms of the deal were not disclosed. The site is a 600-acre
underground cavern that was formerly operated as a limestone mine, but has the potential to act as a large battery, storing energy as compressed air for use during peak demands for electricity. FirstEnergy has not yet outlined its development plans or timeline. But with 9.6 million cubic meters of space, the site could theoretically store enough compressed air to provide 2,700 MW of electricity. Currently, there are two commercial facilities like this in existence: one is a 110 MW plant in McIntosh, Ala., and the other is a 290 MW facility in Bremen, Germany, that has been in
operation since 1978.
In other energy storage news, Duke Energy (NYSE: DUK) received a $22 million grant from the
U.S. Department of Energy to design, build and install large-scale
batteries to store wind energy at the Notrees Windpower Project in Texas. The batteries will store excess wind energy and discharge it
whenever demand for electricity is highest, or when there’s not enough wind to drive turbines.
Duke will provide matching funds for the project.
In Arizona, energy company Salt River Project (SRP) has selected Iberdrola Renewables Inc. (IBR.MC; IRVSF.PK) to build and operate a 20-megawatt (MW) photovoltaic (PV) power plant. The facility is the largest of its type planned in the state. The project builds on relationship the two companies built developing Arizona’s first commercial-scale wind farm, which was dedicated in October. The solar plant is scheduled for completion in 2011.
Last week Reuters cited unnamed sources who said two Initial Public Offerings (IPOs) are in the works. California-based electric car company Tesla Motors, reportedly is preparing to file. Before the economy collapsed in 2008, company chairman Elon Musk said an IPO was under consideration for late 2008 or 2009.
Separate sources told Reuters that China Longyuan Power Group Corp Ltd, Asia’s largest wind power
generator, plans to raise up to HK$17.1 billion (US$2.2 billion) from a
Hong Kong IPO.
Norway’s state-owned utility Statkraft opened the world’s first osmotic power prototype last week. The prototype generates power by exploiting the energy available when
fresh water and seawater are mixed–as happens in the numerous fjords
along Norway’s coast. A porous membrane between the fresh and salt water allows for a
build-up of pressure on the salt-water side, as freshwater flows
through. The pressure is then used to drive a turbine. The prototype device is low-power, currently producing a mere 2-4
kilowatts of electricity. However, Statkraft, which has been
researching the technology for 10 years expects it to someday make
a global contribution to eco-friendly power production. The global potential of osmotic power is estimated to be 1,600-1,700
terawhatt hours (TWh) per year. That’s equivalent to 50% of the EU’s total
power production. Statkraft said its goal is to be capable of constructing a commercial osmotic power plant within a few years’ time.
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