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Offshore Wind Developer signs MOU with Haida Nation

NaiKun Wind Development Inc. has entered into a Memorandum of Understanding (MOU) with the Haida Nation regarding Phase 1 (320MW) of the proposed offshore wind farm project in Hecate Strait. The MOU is subject to the project receiving an Environmental Assessment that determines the project can proceed without material adverse effect on the region’s environment as assessed by the Council of Haida Nation, Canada and British Columbia. The region is particularly rich in crab and seabirds. Under the terms of the MOU, NaiKun and the Haida Nation have established a framework to govern the relationship between the Haida Nation and NaiKun regarding the construction and operation of the project, which is expected to begin construction in 2009. The agreement also establishes a formal commercial relationship in which the Haida Power Authority will participate in the subsidiary, NaiKun Operating Company (Opco), the entity which will be responsible for providing operating and maintenance services to the wind power project. The agreement also contemplates employment and training opportunities as well as marketing of greenhouse gas credits from the wind farm. NaiKun Wind Energy Group Inc. is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. […]

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Evergreen Solar Announces Pricing of Stock Offering

Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products with its proprietary, low-cost String Ribbon(TM) wafer technology, announced the pricing of its public offering of 15,000,000 shares of its common stock. The public offering price of $8.25 per share will result in gross proceeds of $123.75 million and net proceeds, after underwriting commissions and other offering expenses, of approximately $117.37 million to Evergreen Solar. The offering is expected to close on or about May 30, 2007. Evergreen Solar expects to use the net proceeds of the offering primarily for manufacturing expansions, to secure the supply of key raw materials, including silicon, as well as for general corporate purposes, including working capital. Lehman Brothers Inc. is the sole book-running manager of the offering and Piper Jaffray, Cowen and Company and Pacific Growth Equities, LLC are co-managers. About Evergreen Solar, Inc. Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The Company’s patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar’s products provide reliable and environmentally clean electric power for residential and commercial applications globally.

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SolarWorld Announces 1.5B EUR Silicon Revenue

SolarWorld AG (SWV.DE) reported that its Deutsche Solar AG subsidiary has entered into new long-term silicon supply agreements with a number of globally operating cell and module manufacturers. The orders will be fulfilled through 2018 at a total value of EUR 1.5 billion. 51% of the orders are from Europe, 37% are from Asia, where China and Taiwan account for 16%. 12% will be shipped to North America. Deutsche Solar now has an order backlog of EUR 4 billion. Deutsche Solar is also providing roughly the same amount for internal use at SolarWorld. In other news, SolarWorld announced it will supply solar modules to 44 villages in China, part of its largest solar off-grid project to date. The company has already supplied 99 villages with modules that supply lighting and refrigeration, as well as other electrical appliances. For 44 villages in the West Chinese province of Qinghai the SolarWorld Group will supply 4,800 solar modules with an output of 80 Watt each.

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AMSC Reports Q4, Full Year Results

American Superconductor Corp. (NASDAQ: AMSC), a reported financial results for its fourth quarter and full fiscal year ended March 31, 2007. Revenues for Q4 rose from $14.3 million in Q106 to $19.1 million. Net loss rose somewhat to $11.4 million, or $0.33 per share, from $11 million, or $0.34 per share. Earnings before interest, taxes, depreciation, amortization and stock-based compensation, or EBITDAS, was $(9.3 million) for the quarter ended March 31, 2007 and $(9.9 million) for the prior-year quarter ended March 31, 2006. “Our fourth quarter was a period of tremendous progress at AMSC, and the momentum has continued into fiscal 2007,” said Greg Yurek, founder and CEO. “With the recent completion of two acquisitions, a restructuring and realignment of our business units, an influx of new orders and projects, and near-record revenues in the fourth quarter, we have set the stage for strong growth going forward. “AMSC Power Systems, formerly known as Power Electronic Systems, posted great organic growth and set a new high water mark for sales. Our D-VAR® systems continue to serve as a catalyst for this business, particularly in the wind power market. We also bolstered our wind power business significantly by completing our acquisition of […]

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Report: Available Sustainable Technology Can Solve Climate Problem, Must Be Jump-Started ASAP

Sustainable energy and technology can curb climate change and meet projected growth in demand for energy but only if key decisions are made within the next five years, according to a new World Wildlife Fund (WWF) report. WWF warns that the governmental policies needed to propel this transition are not now in place, or even in prospect in most cases. “This report says that we can breathe a sigh of relief: it’s not too late to save ourselves and our children from the worst ravages of climate change while still meeting the demand for energy,” said Richard Mott, Vice President for International Policy at World Wildlife Fund. “But the report also warns that this opportunity is fleeting. Any delay and our choices become both more difficult and much more expensive.” The study showed with more than a 90% probability that known energy sources and proven technologies could be harnessed between now and 2050 to meet a projected doubling in global demand for energy while also achieving the necessary 60-80% drop in CO2 emissions necessary to control climate change. The report identifies six key solutions: Improving energy efficiency Stopping forest loss Accelerating the development of low-emissions technologies Developing flexible fuels Replacing […]

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DOE Announces Funding for Advanced Vehicle Technologies

U.S. Department of Energy (DOE) announced the selection of five next-generation vehicle research projects, which will receive up to $19 million in DOE funding to further the development of plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and fuel cell vehicles (FCVs). Combined with industry’s cost share, projects selected for negotiation of awards total $33.8 million (FY’07-’10). Projects will focus on reducing the cost, weight, and size of electric drive and power conversion devices while also increasing vehicle efficiency. Selected projects focus on advancing research on four areas: high-temperature three-phase inverters; high-speed motors; integrated traction drive systems and; bi-directional DC/DC converters. Selected projects: Delphi Automotive Systems (Troy, Michigan): $4.9 million for high-temperature three-phase inverter research. Three-phase inverters control and regulate the speed of electric motors. Other team members include Dow Corning, GE Global Research, GeneSiC, Argonne National Laboratory, and Oak Ridge National Laboratory. Virginia Polytechnic Institute and State University of Blacksburg, Virginia: $1.7 million for a project that will focus on developing an advanced softswitching inverter for reducing switching and power losses. Other team members include Azure Dynamics, Powerex, and the National Institute of Standards and Technology. General Electric Global Research (Niskayuna, NY): $3.4 million for work on developing […]

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