Green Edge to California Governor Re-Election Bid
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News and EventsDOE Offers $170 Million for Solar Technology Research Public Comments Requested for Offshore Wind Power Projects Drill Problems Halt Australian Hot Dry Rock Geothermal Project “Big Three” Automakers to Produce More Renewable-Fuel Vehicles DaimlerChrysler to Bring Smart Cars to the United States IT Companies and Organizations Tackle Data Center Energy Use Energy ConnectionsSlumping Energy Use Holds U.S. Carbon Emissions Steady in 2005 News and EventsDOE Offers $170 Million for Solar Technology ResearchDOE released a solicitation last week for cost-shared, public-private partnerships to advance solar energy technology. The solicitation focuses on development, testing, demonstration, validation, and deployment of new solar photovoltaic (PV) components, systems, and manufacturing equipment. DOE plans to award $170 million over three years to industry-led groups that may include one or more companies, universities, national laboratories, or non-governmental organizations. The teams must match their awards dollar for dollar, bringing the total investment to $340 million. Applications are due on October 2nd. See the solicitation on the Grants.gov Web site.The new solar energy funds are part of President Bush’s Solar America Initiative, which aims to bring down the cost of solar energy systems to make them competitive with conventional electricity sources by 2015. The goal of the […]
MEMC Electronic Materials, Inc. (NYSE: WFR), a leading silicon supplier, has signed a non-binding Letter of Intent (“LOI”) to supply Suntech Power Holdings, Ltd. (NYSE: STP), a leading producer of solar cells and modules, with silicon wafers over a 10-year period. Under the terms outlined in the LOI, MEMC will supply solar wafers to Suntech over a 10-year period with pre-determined pricing, on a take or pay basis beginning in the first quarter of 2007. Sales of the wafers over the 10-year period would generate between $5 billion and $6 billion in revenue for MEMC. As part of the arrangement and in order for MEMC to meet Suntech’s supply requirements, Suntech will advance funds to MEMC in the form of an interest-free loan or security deposit which will be used by MEMC for expansion of MEMC’s manufacturing capacity. In addition, MEMC will receive a warrant to purchase up to a 4.99% equity stake in Suntech. “Suntech is a fast growing player in the solar market, and we are pleased with the prospect of helping them achieve a leading role in the marketplace,” commented Nabeel Gareeb, MEMC’s CEO. “The solar market is growing at an impressive pace at over 30% per […]