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US Southwest Governors Launch Climate Change Initiative

Arizona Governor Janet Napolitano and New Mexico Governor Bill Richardson have signed an agreement launching the Southwest Climate Change Initiative, which establishes a framework for the two states to collaborate on strategies to address the effects of climate change in the Southwest and reduce greenhouse gas emissions in the region. Under the Initiative, Arizona and New Mexico will collaborate on a number of climate change-related actions, including: development of consistent approaches for measuring, forecasting and reporting greenhouse gas emissions; giving credit for greenhouse gas reduction actions; identifying options for reducing greenhouse gas emissions; promoting climate change mitigation actions, energy efficient technologies and clean and renewable energy sources that enhance economic growth; and advocating for regional and national climate policies that reflect the needs and interests of Southwestern states. In the document establishing the Initiative, the Governors declare that “Southwestern states have particular concerns about the impacts of climate change and climate variability on residents, businesses and the environment, including the potential for prolonged drought, severe forest fires, warmer temperatures, increased snowmelt, reduced snowpack and other effects.” They also state that “actions to reduce greenhouse gas emissions, such as energy conservation and development of renewable energy sources, may have multiple benefits, […]

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Ski Industry Makes Record Renewable Energy Purchase

Aspen Skiing Company (ASC), operator of four ski mountains and two hotels in Colorado, has made a landmark purchase of renewable energy certificates from wind farms to offset 100 percent of its electricity use. The purchase is the largest in the history of the U.S. ski industry. “This purchase represents our guiding principles in action,” said ASC President/CEO Pat O’Donnell. “Clearly, the most pressing issue of our time is climate change, and addressing energy use is one of the most important actions we can take on that front.” ASC will buy the wind energy certificates from Community Energy, a marketer and developer of wind energy generation, with an office in Boulder, Colorado. These purchases supplement ASC’s existing wind purchases from Holy Cross Energy, which account for 5% of company electricity usage. A renewable energy certificate represents the benefit, in reduced carbon emissions, of a unit of electricity generation, typically one megawatt-hour. As more businesses and individuals buy certificates, the demand will cause more renewable energy to be generated. “If everyone in the world bought renewable energy certificates like we have done,” said ASC Environmental Affairs Director Auden Schendler, “we’d be well on our way to solving the climate problem.” “The […]

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Landmark US Government Study of Pesticides in Water

Today, the U.S. Geological Survey released a report describing the occurrence of pesticides in streams and ground water during 1992-2001. The report concludes that pesticides are typically present throughout the year in most streams in urban and agricultural areas of the Nation, but are less common in ground water. The report also concludes that pesticides are seldom at concentrations likely to affect humans. However in many streams, particularly those draining urban and agricultural areas, pesticides were found at concentrations that may affect aquatic life or fish-eating wildlife. Dr. Robert Hirsch, Associate Director for Water, said, “While the use of pesticides has resulted in a wide range of benefits to control weeds, insects, and other pests, including increased food production and reduction of insect-borne disease, their use also raises questions about possible effects on the environment, including water quality.” Hirsch also commented that “the USGS assessment provides the most comprehensive national-scale analysis to date of pesticide occurrence in streams and ground water. Findings show where, when, and why specific pesticides occur, and yield science-based implications for assessing and managing pesticides in our water resources.” “The data shows an urgent need to strengthen policies at all levels of government and curtail pesticide […]

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ECD Ovonics Announces Pricing of Equity Offering

Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) has priced its equity offering of 7,000,000 shares of common stock, including 6,616,928 shares to be sold by the company and 383,072 shares to be sold by certain directors and officers, at a price of $49.00 per share under an effective shelf registration statement previously filed with the Securities and Exchange Commission. The offering was increased by 850,000 shares over the proposed offering announced February 15, 2006. The Company will receive gross proceeds of approximately $324.2 million, before underwriting discounts and commissions and expenses payable by the Company, from the sale of the 6,616,928 shares of common stock. In connection with this offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock to cover over-allotments, if any. The Company expects the issuance and delivery of the shares to occur on March 7, 2006. The Company intends to use in the near term approximately $150 million of the net proceeds from this offering to expand the solar module production capacity of its wholly owned subsidiary, United Solar Ovonic, through the construction of a third manufacturing facility with an annual capacity of at […]

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