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Swiss Re Closes EUR 329M Clean Energy Fund

Swiss Re announced it has closed one of the largest cleantech private equity funds in Europe, the EUR 329 million European Clean Energy Fund. The fund will provide mezzanine and equity capital to European clean energy projects. Institutional investors from Europe, Canada and the US participated in the fund. Swiss Re is the anchor investor in the Fund and acts as carbon advisor for the selected projects. Jacques Aigrain, Swiss Re CEO, said, “The launch of the European Clean Energy Fund is part of Swiss Re’s commitment to the Clinton Global Initiative and another important step in our approach to tackle the issue of climate change. This Fund not only contributes to the progress of clean energy projects, it also aims to provide attractive returns to investors, while enhancing Swiss Re’s expertise in the environmental markets business, both in investments and carbon market services.” The United Nations Economic Commission for Europe awarded the Fund a mandate under the Energy Efficiency 21 Project. This qualifies the Fund as an accredited investment vehicle within the UN system, which allows the Fund to participate in special project financing initiatives and to receive UN grant money for Kyoto Protocol and climate change related projects.

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WorldWater to Supply 2MW Solar for Fresno Yosemite Airport

WorldWater & Power Corp. (WWAT.OB), developer and marketer of proprietary high-power solar systems, has been awarded a contract to supply solar PV to Fresno Yosemite International Airport. The 20-year contract will provide solar PV to the airport from a 2 MW PV system. This project is the largest solar project at a U.S. airport. Solar will provide 40% of the airport’s annual power consumption. WorldWater will design, build and operate the solar system over the 20 year contract. It expects to complete the installation by early 2008. Website: [sorry this link is no longer available]     

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Maxwell Gets Preliminary Injunction in Patent Suit

Maxwell Technologies, Inc. (Nasdaq: MXWL) announced that a California federal district court issued an order in favor of Maxwell’s patent infringement suit against Nesscap. In October 2006, Maxwell accused Nesscap of infringing on two of its ultracapacitor patents. Nesscap then countersued, filing a patent infringement action against Maxwell in federal district court in Delaware in December 2006. In January, over Nesscap’s objection, Maxwell moved to have the Delaware action transferred to the district court in San Diego. That request was granted by the Delaware district court on March 29, 2007. Thus, both lawsuits will be decided by a court and, if necessary, a jury in federal district court in San Diego. The court determined that Maxwell would be irreparably harmed if a preliminary injunction does not issue. As a result, U.S. District Judge John A. Houston ruled that a preliminary injunction will issue, prohibiting Nesscap from making, using, selling or offering to sell its prismatic ultracapacitors in the United States while the litigation is pending. The court set a May 18, 2007 hearing date to determine if a preliminary injunction should also issue against all of Nesscap’s ultracapacitor products based on Maxwell establishing a likelihood of success in that all […]

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Suzlon Increases Acquisition Price For REpower

Indian turbine manufacturer Suzlon Wind Energy (SUZLON.NS), has increased the price of its acquisition offer for German wind turbine manufacturer, REpower Systemse to 150 euros per share. The price exceeds AREVA Group’s offer by 10 euros per share. AREVA, which owns almost 30% of REpower’s shares, offered 105 euros per share for the outstanding shares in January. Suzlon upped AREVA’s bid to 126 euros per share with the support of Portugal-based power supplier Martifer, which owns 25% of REpower’s shares. REpower’s board approved Suzlon’s offer in early March, but then AREVA increased its bid to 140 euros per share. REpower’s board approved that offer too. Now Suzlon has returned with an even higher offer which it says will expire on April 20.

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US EPA Finalizes Renewable Fuel Standards

The US EPA has finalized the nation’s first comprehensive Renewable Fuel Standard (RFS) program. At a press conference today, EPA Administrator Johnson, joined by Energy Secretary Samuel Bodman and National Highway Traffic Safety Administrator Nicole Nason, discussed the RFS program, increasing the use of alternative fuels and modernizing CAFE standards for cars. “The Renewable Fuel Standard offers the American people a hat trick ­ it protects the environment, strengthens our energy security, and supports America’s farmers,” said EPA Administrator Stephen L. Johnson. “Today, we’re taking an important first step toward meeting President Bush’s “20 in 10″ goal of jumping off the treadmill of foreign oil dependency.” “While we must look at increasing the availability of renewable and alternative fuels, we must also continue to improve the fuel efficiency of our passenger cars and light trucks,” said Nicole R. Nason, Administrator of the National Highway Traffic Safety Administration. “As a part of the President’s “20 in 10″ energy security plan, we need Congress to give the Secretary of Transportation the authority to reform the current passenger car fuel economy standard.” Authorized by the Energy Policy Act of 2005, the RFS program requires that the equivalent of at least 7.5 billion gallons […]

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ConocoPhillips Backs Cuts in Greenhouse Gases

ConocoPhillips (NYSE: COP) is now the second oil company (after Britain’s British Petroleum (BP) to call for mandatory U.S. rules to reduce greenhouse gases. The company says it will set targets to cut emissions from its operations. ConocoPhillips announced it would join the U.S. Climate Action Partnership, which consists of Fortune 500 companies that are calling on the the federal government to quickly enact laws requiring cuts to greenhouse gases. “We recognize that human activity, including the burning of fossil fuels, is contributing to increased concentrations of greenhouse gases in the atmosphere that can lead to adverse changes in global climate,” ConocoPhillips Chief Executive Jim Mulva said.

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Poll: Women Business Owners Most Concerned About Environment, Health Care

While this was the fifth year that health care concerns ranked first among concerns for women business owners, nearly two-thirds believe that global warming and environmental changes will affect them professionally and/or personally. 52% of women surveyed said they plan to alter business practices to either conserve energy or become more environmentally responsible, and 35% reported offering technological initiatives and/or business/service product offerings to increase energy efficiencies. 45% of women business owners want the government to use both incentives and regulations to encourage conservation. The 2007 “What Business Women Want” bipartisan national survey was conducted Jan. 22 – Feb. 9 and included 400 respondents. Read the complete survey: Website: http://www.wipp.org     

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