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SolarWorld to Build Korean Cell Manufacturing Plant

German solar manufacturer, SolarWorld AG announced it will build an integrated solar cell and module production plant in South Korea to serve growing demand in Asia. The project will be a joint venture with with S.Korean engineering firm, SolarPark Engineering Co. Ltd. The plant will open with 60 megawatts (MW) of capacity with the potential to scale to 120MW. Production will begin by the end of next year. SolarWorld will supply the silicon, and the modules will be marketed under the joint brand, SolarWorld Korea Ltd. They will be sold exclusively in Korea, Japan and China. S. Korea has a feed-in tariff, making it the largest market for grid-connected solar power in Asia, after Japan.

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Raser Begins Geothermal Drilling in Utah

Raser Technologies, Inc. (NYSEArca: RZ) has begun drilling on a geothermal production well in Central Utah for use in a 10 megawatt binary-cycle geothermal power plant. The project will be the first geothermal power facility built in Utah in 17 years. The site, located in Utah’s Escalante Desert, abuts an existing exploration well that was drilled several years ago. This well exhibited temperatures in excess of 300 degrees Fahrenheit. There are a series of hot springs in the immediate vicinity of the site, which is located within a few miles of the transmission grid, allowing for economical interconnection. Raser is currently in negotiations with a California utility to purchase the power that would be generated at the site. Raser also announced that the project has received certification as a Qualifying Facility from the Federal Energy Regulatory Commission (FERC). Brent Cook, Raser’s CEO, said, “We are very excited about the potential power generation at this site. If all goes as we expect, the site will generate up to 10 megawatts of green power. This combined with the 30 megawatt potential that we are developing on our Nevada sites and the recently announced New Mexico site, which we believe holds up to […]

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GreenHunter Energy Initiates $60M Private Placement

GreenHunter Energy, Inc. announced it has closed on the first tranche of a $60 million 10% Series A Senior Secured Redeemable Debenture offering. The notes will have a term of five years and will be exchangeable into freely tradable shares of GreenHunter Energy, Inc. common stock. The company has received $3.5 million from 13 accredited investors to date. 10 broker/dealers representing over 2,700 sales representatives have completed their due diligence and have recently executed selling agreements for the private placement of these Notes to their qualified customers. GreenHunter Energy is focused on the renewable energy sectors of wind, solar, biofuels, and biomass power plants. Assets consist of leases of real property for future development of wind energy projects located in Montana, New Mexico and California, a former waste oil and chemical refinery currently being converted to the nation’s largest biodiesel refinery located in Houston, Texas, and a biomass power plant located in El Centro, California. Headquartered in Grapevine, Texas, GreenHunter Energy was formed to be the first publicly traded renewable energy company that provides to investors a portfolio of diversified assets in the alternative energy sector.

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Appliance Recycling Centers of America Reports Strong Q3 Results

Appliance Recycling Centers of America (Nasdaq: ARCI) reported that for the third quarter, sales increased 32% to $27.3 million from the same quarter in 2006. ARCA reported net income of $1.4 million or $0.31 per diluted share for the period, a significant improvement from net income of $21,000 (no per share earnings) in the third quarter of 2006. Same-store sales of the 13 ApplianceSmart factory outlets that were open during the complete third quarters of 2007 and 2006 declined 2%, while total retail sales rose 4% to $17,561,000 on a year-over-year basis, reflecting the impact of two additional factory outlets in the Atlanta market that were opened during the past year. Third quarter recycling revenues increased to $9,035,000 from $3,407,000 in the comparable period of 2006. Edward R. (Jack) Cameron, president and chief executive officer, commented: “As evidenced by the modest decline in same-store sales of our ApplianceSmart operation, the primary focus of our retail business on the replacement appliance market has helped moderate the impact of the ongoing slowdown in the nation’s residential construction sector. ApplianceSmart is also benefiting from the improved operating efficiencies that have been achieved by strengthening inventory management and implementing other new business systems. We […]

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PepsiCo Lauded as EPA Green Power Purchaser of 2007

PepsiCo purchases more than 1 billion kilowatt-hours of green power annually, which makes it the largest purchaser of green power in the nation among EPA Green Power Partners. PepsiCo has received a 2007 Green Power Leadership award from the U.S. Environmental Protection Agency (EPA), which recognizes leading national green power purchasers for their commitment and contribution to helping advance the development of the nation’s green power market. PepsiCo also ranks No. 1 on EPA’s Fortune 500 List of green power purchasers. The goal of EPA’s Fortune 500 Challenge is to exceed 5 billion kilowatt-hours of collective annual green power purchasing among the America’s largest companies. Currently, there are nearly 50 Fortune 500 companies in EPA’s Green Power Partnership. Based on national average emissions rates, the U.S. EPA estimates PepsiCo’s purchase is the same amount of electricity needed to power nearly 90,000 average American homes annually. “Green power” is defined as electricity that is generated from environmentally preferable renewable resources, such as solar, wind, geothermal, biogas, biomass, and low-impact hydro. Three of Pepsi-Cola largest bottlers in North America also purchased renewable energy certificates (REC) to match 100% of the electricity used by their U.S. operations. Combined, The Pepsi Bottling Group, Inc., […]

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GE Energy Signs $730M Wind Turbine Agreement

GE Energy (NYSE: GE) has signed a global agreement with the renewables division of EDP – Energias de Portugal, SA, the world’s fourth largest wind project developer. GE will supply over 500 megawatts (MW) of wind turbines for EDP’s 2008 and 2009 projects in Europe and the U.S. The agreement is valued at $730 million, bringing GE Energy’s recent wind turbine order announcements to more than $1 billion. GE will: — Supply Neo Energia, the European renewable branch of EDP, with 80 2.5xl wind turbines for new wind projects in Europe — Provide Horizon Wind Energy LLC, EDP’s American branch, with 201 1.5MW wind turbines for projects in the U.S., at sites yet to be determined. EDP, Portugal’s largest power group, purchased Houston-based Horizon earlier this month, as part of an expansion into the North American wind energy industry. “In the U.S. and around the world, we continue to see strong interest in the production of cleaner, wind-generated electricity,” said Victor Abate, Vice President-Renewables for GE Energy. “In the U.S. alone, more than 2,400 megawatts of new wind power was installed in 2006 while worldwide, more than 15,000 megawatts were installed, according to the Global Wind Energy Council.” Says Antonio […]

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