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Global Renewable Energy ETF Goes on NYSE

To emphasize the importance of drawing capital into the alternative energy sector, Andrew Karsner, Assistant Secretary of Energy for Energy Efficiency and Renewable Energy, will ring The Opening Bell on the NY Stock Exchange Wednesday, May 9. The morning marks the opening of the NYSE listing of the Market Vectors – Global Alternative Energy ETF (NYSE: GEX), an exchange-traded fund (ETF) that offers investors convenient exposure to a broad spectrum of the global alternative energy industry. Sponsored by New York investment management firm Van Eck Global the new ETF will seek to track, as closely as possible, before fees and expenses, the performance and yield of the Ardour Global Alternative Energy Index (AGIXL). The index consists of the shares of 30 public companies from around the world involved in alternative and renewable energy (solar, wind, geo-thermal, etc.) and related technologies.

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More Climate Legislation Introduced: Clean Fuels, Coal, Carbon Tax

U.S. Senator Barbara Boxer (D-CA), Chairman of the Senate Committee on Environment and Public Works, introduced “The Advanced Clean Fuels Act Of 2007,” which sets a goal of increasing the volume of clean transportation fuels to as much as 35 billion gallons by 2025. Senators Susan Collins (R-ME) and Joseph Lieberman (ID-CT) joined Senator Boxer as cosponsors of the measure. ” Significantly increases the amount of advanced clean fuels in the nation’s fuel supply by requiring increasing volumes of fuels that have low greenhouse gas emissions and that are produced in an environmentally sound way. ” EPA is required to increase the Renewable Fuels Standard from 12 billion gallons in 2011 to as much as 35 billions gallons by 2025. o To count towards the Renewable Fuels Standard, fuel must be at least 20% better than gasoline in terms of greenhouse gas emissions. o The Renewable Fuels Standard would also require increasing volumes of fuels that are at least 50% and 75% better than gasoline in terms of greenhouse gas emissions. ” The National Academy of Sciences will periodically study the environmental and other impacts, and the energy independence implications of increasing the amount of advanced clean fuels in the […]

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Wal-Mart Buys Solar for 22 Store Pilot Project

Wal-Mart Stores Inc. (NYSE: WMT) will purchase solar power from BP Solar, SunEdison LLC, and PowerLight for 22 Wal-Mart stores, Sam’s Clubs and a distribution center in Hawaii and California. The world’s largest retailer, which has a goal of using 100% renewable energy, said the pilot solar project would provide up to 30% of each store’s energy. “Pilot project stores are expected to achieve savings over their current utility rates immediately – as soon as the first day of operation,” said David Ozment, director of energy for Wal-Mart. SunEdison will provide four solar power systems in Hawaii and four in California, while PowerLight and BP Solar will each supply seven systems in California.

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