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Safe Climate Act Re-Introduced

U.S. Rep. Henry Waxman (CA), chair of the House Oversight Committee and a senior member of the House Energy and Commerce Committee has re-introduced The Safe Climate Act. First introduced in June 2006, the Act would reduce total U.S. global warming emissions to 1990 levels by 2020 (a 15% reduction from today’s levels) and to 80% below 1990 levels by 2050. It is co-sponsored by 120 House members. Congress currently is considering several climate change bills that call for varying levels of emissions reductions, but according to the Union of Concerned Scientists, the Safe Climate Act and the Senate’s Global Warming Pollution Reduction Act ­ whose primary sponsors are Barbara Boxer (D-Calif.) and Bernie Sanders (I-Vt.) ­ provide the best chance of staying below a 2 degrees F temperature increase above today’s levels. Both bills require a gradual but deep reduction of U.S. global warming emissions to 80 percent below 1990 levels by 2050. The Safe Climate Act would freeze global warming emissions at 2009 levels in 2010, and then reduce them by approximately 2 percent per year from 2011 to 2020. After 2020, the bill would require emissions cuts of about 5 percent annually, as more advanced technologies become […]

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San Francisco Ballpark Gets Solar System

San Francisco Giants’ AT&T Park – the first at a major league baseball park – is getting a 123 kW solar system that will light up a new scoreboard (whoopie!). Pacific Gas & Electric Co. will install a solar system in time for baseball’s All-Star game on July 10 at AT&T Park. Solar electricity is in use at some minor league baseball parks in the United States and at soccer stadiums in Europe and Asia.

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Canary Island: Renewable Powered

Rhe Madrid government announced that one of the smallest Canary Island, El Hierro, will receive all its electricity from renewable energy sources (that is, if you consider hydro renewable). The island – the first in the world – will rely on a combination of hydroelectricity and wind power to generate its electricity. Most of the energy will come from a 10 MW hydroelectric plant, which will draw from two reservoirs. A wind farm will generate electricity for a pumping station that will pump water to the two reservoirs that feed the hydroelectric stations. Excess wind energy will be used to power two desalination plants. An existing diesel-powered plant will be maintained for emergencies. “Using this system, we can transform a intermittent energy source into a controlled and constant supply of electricity,” the ministry said of the 54.3 million euro (65 million dollar) scheme. 10,500 people live on the island.

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Vestas Profitable Again, Will Build Wind Blade Facility In Colorado

Denmark-based Vestas, the world’s largest wind turbine manufacturer, reported it returned to profitablity for 2006. The company reported a profit of 201 million euros (US$267.4 million) compared with a 2005 loss of 116 million euros before interest and taxes. Sales rose 7.5% to 3.85 billion euros (US$5.1 billion) in 2006, but component shortages continued to hamper production. It expects to face long, expensive key component delivery times this year, and said that, although suppliers are expanding capacity, it will take a few years for components to be able to keep pace with demand. Vestas forecasts sales of about 4.5 billion euros and a margin of 7-9% for 2007. Shares in Vestas have climbed over 20% this year. It has a market share of 28%, unchanged from 2005 and is targeting 35% this year. Vestas also announced it would establish a blade production facility in the Great Western Industrial Park in Windsor, Colorado. Construction will begin this spring, with the start of production planned for early 2008. The plant will have a capacity of approximately 1,200 blades per year.

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REpower Boards Accept AREVA Takeover Offer

The board of REpower Systems AG, Germany-based wind turbine manufacturer, has accepted AREVA’s second offer, submitted March 15, which provides a takeover price of 140 euros per share – equaling a total value of about 1.14 billion euros. The boards noted the 14-euro-per-share increase of AREVA’s offer over a second takeover offer from Suzlon Wind Energy and AREVA’s ability to provide a strategic partnership for “accelerated growth in the international wind industry” as reasons for the recommendation. In January, AREVA offered REpower 105 euros per share – for the shares AREVA does not already own – for the acquisition of the company. Suzlon submitted a second offer of 126 euros per share, which REpower’s boards recommended accepting on March 6.

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NYMEX To Offer Alternative Energy Index Futures

The New York Mercantile Exchange, a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), the world’s largest physical commodity exchange, signed an agreement today with Ardour Global Indexes, LLC, a developer of benchmark indexes for the global alternative energy industry, to introduce alternative energy index futures and options contracts. NYMEX Chairman Richard Schaeffer said, “The introduction of alternative energy indexes is an exciting initiative for NYMEX. We have seen an interest in what we believe will be an expanding segment of the world’s energy markets, and we strive to introduce innovative new products to the energy arena.” The Ardour Global Alternative Energy Indexes were designed to serve as fair, impartial and transparent measures of the performance of the alternative energy industry. So far this year, the AGI has risen over 5%, reflecting surging interest in the sector caused by high energy prices, as well as security and environmental concerns. The capitalization weighted, float-adjusted family of indexes incorporates companies engaged in five primary alternative energy sectors: alternative energy resources (including wind, solar, ethanol bio-mass and others), distributed generation, environmental controls, energy efficiency, and enabling technologies. Joseph LaCorte, AGI Index Committee Member, said, “The transformation of the world’s energy supply from fossil fuels to […]

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