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Morgan Stanley, Deutsche Bank Call Green Business $1 Trillion Mega-Market

Morgan Stanley calls the blossoming green business market as a $1 trillion market, while Deutsche Bank calls it a Mega-Market. Both firms see the coming investments to tackle climate change as a market as huge. Policies being shaped now by governments around the world, population growth and spiking fuel prices, along with reduced costs for clean energy are creating this mammoth investment opportunity that should even tempt the skeptics of climate change. Morgan Stanley sees clean energy sales growing to an estimated $1 trillion a year by 2030 – the U.S. gross domestic product was $13.2 trillion last year. The bank projects that solar will grow from practically zero in market penetration in 2005 to 11.2% in 2030. Wind could grow from 0.9% to 9.6%, and biofuels could grow from 1% in 2005 to 21% during that time period. Deutsche Bank has brought $8.5 billion into climate change funds that invest in companies/projects in the sector, including clean energy, energy efficiency, sustainable agriculture and construction. Morgan Stanley plans to invest $3 billion in this market over the next five years.

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Suntech Announces 510MW Wafer Supply Agreement

Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, announced an agreement with ReneSola Ltd (AIM: SOLA), a leading manufacturer of wafers for the photovoltaic industry, to purchase 510MW of silicon wafers over a four-year period beginning in January 2008. “We are very pleased to announce this expanded relationship with our long time supplier ReneSola, a rapidly growing producer of high quality silicon wafers,” said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. “This agreement demonstrates Suntech’s ability to continue to secure a high volume of silicon despite the industry shortage.” Dr. Shi added, “These silicon wafers will supplement our already healthy and diversified supply outlook for the next four years as well as enable us to increase our production of high efficiency solar cells and achieve our market expansion goals faster than we originally anticipated.” Website: http://www.suntech-power.com     

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CA Sets the Bar Higher: Significant Bills Passed

California Governor Schwarzenegger signed an array of legislation over the last week furthering the state’s commitment to energy efficiency, conservation and pollution reduction. Attracting the most attention is the Solar Water Heating and Efficiency Act of 2007 (AB 1470), authored by Assembly Member Jared Huffman (Marin), which aims to create a mainstream market for solar water heating technologies by offering $250 million in rebates for California consumers over the next ten years. Funds for the rebates will come from a 13-cent per month surcharge on gas bills. The program, which will be implemented by the California Public Utilities Commission (CPUC) and individual municipal utilities, will be the nation’s largest solar water heating program and is likely to bring a number of benefits to the state including reduced global warming pollution, stabilized energy prices and lower utility bills. A report by Environment California Research & Policy Center showed that a mainstream market for solar water heating could cut 6.8 million tons of global warming pollution per year, while cutting natural gas use in homes by 50-75%. The governor also signed AB 118, which funds the Alternative and Renewable Fuel and Vehicle Technology Program through a $2 increase in vehicle registration fees. […]

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GridPoint Raises $48.5 Million in Series D

GridPoint, Inc., a company developing smart grid platforms, closed a $48.5 million Series D financing led by Goldman Sachs Group (NYSE:GS)and Susquehanna Private Equity Investments, an affiliate of Susquehanna International Group. It also announced the appointment of new members to its board of directors, including the CTO of Duke Energy and the CEO of US Power Generating Company. New GridPoint shareholders include New Enterprise Associates, Perella Weinberg Partners, and Robeco, a subsidiary of Rabobank Group. Since the company’s inception in November 2003, GridPoint has raised $88 million in equity capital. “This significant financing demonstrates investor confidence in building an intelligent electric grid that integrates distributed clean technologies,” said Peter L. Corsell, President and CEO of GridPoint. “Just as the Internet forever changed communication and commerce, the Smart Grid will revolutionize the delivery and consumption of electric power.” GridPoint is the pioneer of an innovative smart grid platform that aligns the interests of electric utilities, consumers and the environment. The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed resources (e.g., advanced load control devices, batteries, solar systems) that reside at the point of consumption – the home or business. Additionally, the platform’s […]

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World's First Jet Flight Powered by Biodiesel

The first jet flight to run completely on 100% biodiesel has been completed successfully. The Czechoslovakian-made aircraft is rated to fly on a variety of fuels including heating oil, making it the preferred platform for testing biodiesel in jet engines. According to Chief Pilot Carol Sugars who conducted the test program, “As we gradually increased the amount of biodiesel in the fuel blend, the data confirmed that the aircraft continued to perform well, giving me the confidence to transition to 100% biodiesel.” Flight tests were conducted up to an altitude of 17,000 feet showing no significant difference in performance compared to conventional jet fuel. “This test program between Green Flight International and Biodiesel Solutions was a unique and exciting opportunity to show what can be done in renewable fuels.” said Rudi Wiedemann, president of Biodiesel Solutions. “The very idea of using 100% biodiesel to fly a jet aircraft makes a compelling statement about the possibilities for the future of renewable energy and a healthier planet.” Out of concern for our global environment, Green Flight International was conceived by Douglas Rodante in April 2006 to serve as a platform for future development in the use of environmentally-friendly fuels in aviation and […]

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