The US Department of Energy announced two loan guarantees this week–one for a company that makes electronically tintable glass for windows, and the other for a utility-scale wind project in Hawaii.
Sage Electrochromics, Inc., received a $72 million loan-guarantee offer to build a manufacturing plant in Faribault, Minn. Sage’s glass can change from a clear state to a tinted state at the push of a button, or can be programmed to respond to changing sunlight and heat conditions. According to DOE’s Lawrence Berkeley National Laboratory (LBNL), SageGlass windows have the potential to reduce building heating and air requirements by up to 25%. Earlier this year, the company received a $31 million Advanced Energy Manufacturing Tax Credit for the Minnesota facility and groundbreaking is schedule for this summer.
First Wind received a $117 million loan guarantee offer to finance the construction of its proposed 30-megawatts (MW) Kahuku Wind project in Hawaii. The project is in final permitting stages and construction is expected to begin as soon as the guaranteed funding is in place. The project will be unique, in that it will be one of the first in the US to include energy storage. Xtreme Power is supplying a battery system that when fully charged is capable of delivering up to 10 MW of electricity for one hour. The Kahuku project also features a Habitat Conservation Plan for endangered species.
Korea-based Daewoo Shipbuilding & Marine Engineering (DSME)(026600.KS) has chosen Nova Scotia, Canada, for its North American production center for wind turbine towers and blades. The facility is expected to be operational by fall 2010 and create up to 500 wind jobs. It will be a joint venture with the province, which is contributing $19.6 million for a 49% share. Daewoo Shipbuilding will pitch in $20.4 million for a 51% stake. As their name suggests, the company is primarily known for building naval and commercial ships, but last year they acquired American wind turbine company DeWind Inc. in a move to diversify into the clean energy sector.
SunPower Corp. (Nasdaq: SPWRA; SPWRB) won a contract to provide up to 200 MW of solar panels to be used by the utility Southern California Edison (NYSE: IEX) in its massive rooftop solar program. Financial terms were not disclosed. The utility is purchasing SunPower’s Solar Roof Tile product, which integrates a solar panel, frame and roof mounting system into a single unit. SunPower currently does not manufacture its panels in the US, but last September, CEO Tom Werner said the company expected to begin manufacturing in California, Texas, New Mexico or Arizona within a year.
SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), received final approval from the Italian government to develop and construct a 72-MW photovoltaic power plant in Northeastern Italy. When completed in the second half of this year, it is expected to be the largest photovoltaic (PV) solar power plant in Europe. Currently, the largest facility is a 60-MW solar farm in Olmedilla, Spain, followed by a 50-MW system in Strasskirchen, Germany. SunEdison is jointly developing the Italian project with financing partner Banco Santander (NYSE: STD).
Waste Management (NYSE: WM) announced plans to build the first plasma gasification facility at one of its solid waste operations in Oregon. S4 Energy Solutions, a joint venture with InEnTEc LLC, will build the facility to convert organic waste into fuels. The system functions in two phases–first gasifying materials at 1,500 degrees Fahrenheit, then superheating to between 10,000 and 20,000 degrees to create synthetic gas for conversion into transportation fuels such as ethanol and diesel, or industrial products like hydrogen and methanol. Waste Management, which owns hundreds of landfills across the country is exploring ways to turn its mountains of waste into a resource, and if this method is financial feasible, it could be reproduced many times over.
Masco Home Services, a subsidiary of home products company Masco Corporation (NYSE: MAS), launched a new business plan to offer energy assessments and retrofit contracting services for existing homes. The company hopes to take advantage of federal initiatives, like the Homestar program announced last week by President Obama, to establish itself as a nationwide home-energy specialist. The company is likely to run up against competition from big-box stores Lowe’s (NYSE: LOW) and Home Depot (NYSE: HD), which already offer contracting services for the installation of energy efficient products like windows, metal roofing and doors. But Masco hopes to outdo them by providing expert energy assessments and recommendations. The WellHome service launched in seven cities this week and hopes to expand before the end of the year.
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