Investors Ask SEC to Require Global Warming Threat Disclosures
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Study Shows Strong Returns on Cleantech Investments in Europe
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AMSC Receives $20M Order
American Superconductor Corp (NASDAQ: AMSC has received a follow-on order for approximately $20 million in wind turbine electrical systems from Beijing-based Sinovel Wind Corporation Ltd. The order follows a $70 million order received from Sinovel Wind in July 2007 and additional D-VAR® orders for grid interconnection of domestic and international wind farms. “AMSC’s wind power business continues to expand globally, with China serving as our largest market,” said Greg Yurek, founder and chief executive officer of AMSC. “As Sinovel Wind continues its rapid production ramp, we are also working closely with two additional customers in China to help them initiate production of wind turbines in order to meet China’s growing demand for zero-emission, wind generated electricity. We see strong potential to add a fourth Chinese customer this fiscal year and are working with other potential customers to expand our reach into other countries.” The Global Wind Energy Council estimates that approximately 1,347 MW of wind generated electrical capacity was installed in all of China in 2006 and expects 8,000 MW of additional capacity to be added from 2007 through 2010. Worldwide wind power capacity is expected to more than double from 74 gigawatts (GW) at the end of 2006 to […]
Pure Biofuels Raises $30M
California-based Pure Biofuels Corp. (OTCBB: PBOF.OB) has closed a $30 million round of funding, consisting of a $10 million convertible note and a $20 million secured credit facility. Pure Biofuels, which aspires to leadership in Latin America, will use the proceeds to complete construction of a 52.5 million gallon per year production facility at the Port of Callao in Lima, Peru. The company also plans to complete the acquisition of Interpacific Oil and the expansion of that facility from its current 7 million gallons per year to 10 million gallons per year. The annual capacity for the combined operation is expected to exceed 62 million gallons per year by mid 2008, making Pure Biofuels one of the largest biodiesel producers in South America. The funds will also be used to finance feasibility studies that are underway to support its expansion into Argentina as well as a vertical integration strategy where the company will produce 100% of its own feedstock from plantations in Peru. The feedstock studies are focusing on the development of palm, jatropha, and canola plantations. Pure has secured 60,000 hectares for plantation development in central Peru and has plans for additional expansion. Biofuels’ flagship project, the Callao Port […]
EnerNOC Acquires MDEnergy for $7.9M
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Solar Power Partners Raises $6M
Solar Power Partners, which develops, owns and operates distributed solar energy facilities, announced it has raised $6 million in Series A funding. Globespan Capital Partners of Palo Alto, CA. led the funding round, which will be used to expand operations and accelerate sales and marketing of commercial power purchase agreements. The Mill Valley, CA-based company has signed 47 solar power purchase agreements across the U.S., including one with supermarket chaing Safeway Inc. (NYSE: SWY) based in Pleasanton, CA.
GE Takes stake in Thin-Film Solar Company
GE Energy (NYSE: GE) announced it is acquiring a minority stake in PrimeStar Solar, Inc., an emerging solar thin-film technology and manufacturing company. PrimeStar Solar, headquartered in Golden, Colo., was formed in June 2006 to develop and commercialize thin-film photovoltaic modules. The company has 31 employees, including a leading management team in thin-film. “Solar energy will play an important role in the future of the global energy market and is an integral part of our renewables portfolio,” said Victor Abate, vice president of renewables, GE Energy. “Our goal, through this investment, is to place GE’s solar business in a strategic position in the thin-film solar industry, adding to GE’s diverse range of energy generation technologies.” In March 2007, GE’s solar business was selected for the U.S. Department of Energy’s Solar America Initiative, a cost-shared, three-year cooperative agreement to drive down the cost of electricity to make solar energy competitive with other power generation technologies. Under GE’s ecomagination initiative, which was launched in May of 2005, GE will invest $1.5 billion annually in research in cleaner technologies by 2010, up from $700 million in 2004.
First U.S Real Estate Project Requires Emissions Target
The first legally enforceable limit on greenhouse gas emissions from a major real estate project in the U.S. has been put to the test at Harvard University. Harvard plans to develop a new campus in Boston’s Allston neighborhood – the approval process now requires that legally enforceable greenhouse gas emissions targets be set for major real estate developments. The new requirement also establishes a Special Review Procedure that allow public input into the environmental review of the university’s proposed new campus over several years, with Harvard agreeing to provide resources to help a citizens advisory committee analyze technical documents. “This is a development of great complexity that will take place over many years, and public input will be essential,” said Secretaryof Energy and Environmental Affairs, Ian Bowles. “The commitment made by Harvard to fund technical assistance to support the community review process will make that process even more fruitful.” In accordance with the Massachusetts Environmental Policy Act (MEPA), Secretary Bowles signed Friday three documents in response to initial filings for Harvard University’s Allston Campus 20-Year Master Plan. A Draft Record of Decision gave Harvard initial approval for its Science Complex prior to completion of a Master Plan for the university’s […]
Yingli Green Energy Signs Agreement with Wacker Chemie AG
Yingli Green Energy of China, has entered into a new agreement with Wacker Chemie AG of Germany. Under the terms of the agreement, Wacker will supply Yingli Green Energy with polysilicon from 2009 to 2011. The total amount of polysilicon supplied will allow Yingli Green Energy to produce over 80MW of PV modules over the life of the agreement. Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented, “This fourth supply agreement, together with our three existing long-term supply agreements with Wacker, further exemplifies the solid partnership that we have had with Wacker AG since 2003. We believe this additional agreement will further enable our ability to complete the next 200MW capacity expansion plan on schedule” Mr. Reimund Huber, Director of Marketing & Sales of Wacker, commented, “As a market leader in an area facing rapidly growing demand, we are glad to strengthen and diversify our relationship with Yingli Green Energy. We believe this agreement will benefit both partners and it coincides with our previously announced strategy of reaching a total capacity of 21,500 metric tons by the end of 2010.” Website: [sorry this link is no longer available]
Sunpower Signs Solar Initiative Agreement with DoE
SunPower Corp. (Nasdaq: SPWR) has been awarded a cost-shared, three-year cooperative agreement by the U.S. Department of Energy (DOE) for the “Grid-Competitive Residential and Commercial Fully Automated PV Systems Technology” Project. Under the cooperative agreement, SunPower is expected to receive $8,469,998 in federal funding through the completion of its first project budget period, which will be implemented through August 31, 2008. Upon successful completion of key project milestones and sustained execution of a viable business strategy, as much as $16,230,002 in additional funding will be made available for continued project implementation through June 30, 2010. The total potential funding from the DOE under the Solar American Initiative (SAI) is up to $24.7 million for this three-year project, subject to availability of funds appropriated by the U.S. Congress. SunPower was selected to receive this award in March of this year and will use the funds to implement cost improvements across the value chain, including innovations in producing ingots, wafers, high-efficiency solar cells and panels, system design, and improved delivery and installation productivity. The company will work to reduce solar system costs through improvements in the design and manufacture of integrated solar-electric systems. This work will be conducted with a team of […]
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