Renewables Increased 7% Says EIA

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Color Kinetics' Shareholders Approve Philips Merger

Color Kinetics Incorporated (Nasdaq: CLRK) announced that its shareholders at a special meeting held in Boston, Massachusetts today have adopted the merger agreement under which Color Kinetics is to be acquired by Philips Holding USA, Inc., a subsidiary of Koninklijke Philips Electronics, N.V. (NYSE: PHG, AEX: PHI). The merger agreement was announced by Philips and Color Kinetics on June 19, 2007. Completion of the transaction remains subject to the satisfaction or waiver of other conditions and terms of the merger agreement. The merger is expected to close on or about August 24, 2007. Website: http://www.colorkinetics.com     

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Vestas Reports Q2 Earnings

Vestas reported second-quarter operating earnings above market consensus on Tuesday and maintained its full-year profit and sales outlooks. Earnings before interest and tax (EBIT) were EUR 90 million, against an expected profit of EUR 66 million in a Reuters poll and EUR 28 million in the first quarter of 2006. The company posted sales of EUR 1.1 Bn, in line with the estimate in the poll and up from EUR 900 million in the first quarter last year. The company maintained its full-year outlook for sales of about EUR 4.5 Bn and an EBIT margin of 7 to 9 percent. Website: [sorry this link is no longer available]     

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Priority Changes On Green Policies

By Richard Simon WASHINGTON – Reflecting a shift in priorities under the Democratic majority, Congress is moving to spend as much as $6.7 billion next fiscal year to combat global warming, an increase of nearly one-third from the current year. House appropriations bills call for about $2 billion in new spending on initiatives aimed to reduce greenhouse gas emissions and oil dependency, significantly expanding the budgets for numerous federal research initiatives and launching some new ones. While legislation to raise vehicle miles-per-gallon standards and cap emissions from power plants has been slower moving – because of resistance from some lawmakers – Democrats have turned to the budget to advance their environmental priorities by increasing spending on a variety of lower-profile programs. That is likely to set up a showdown this fall between Congress and President Bush, who wants to spend less on climate-change initiatives. The White House budget office, which has criticized excessive spending in the overall appropriations bills, noted that the president’s proposed budget provides for a 3% increase in spending for climate-change activities. “Congress is putting its money where its mouth is,” said Lowell Ungar, senior policy analyst at the Alliance to Save Energy, a Washington coalition of […]

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