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SolarWorld Announces Entry into U.S., Spanish Markets

SolarWorld AG (Berlin: SWV.BE), based in Germany, announced it has established new new subsidiaries in Spain and the U.S. as entry points to the solar markets there. The subsidiaries, SolarWorld Iberica s.l., will be located in Madrid, Spain, and SolarWorld California Inc. will be based in San Diego. “Spain is one of the markets with the most vigorous growth in Europe”, says Faried Muscati. “Already in the course of the current year we have been able to close business deals here that have made us one of the leading foreign solar providers. With our new subsidiary in Madrid we will further strengthen this position.” CEO Frank Asbeck told Reuters SolarWorld plans to double its exports to 60% of sales by 2008, and that the two new subsidiaries would be profitable immediately. The company plans to establish a new unit in China or one of Asia’s so-called tiger economies in the first half next year. In the past few weeks, the Spanish government approved new objectives for the further development of renewable energy. Solar capacity is to be increased over the next few years by a factor of 10 from 40 MW at the end of 2004 to 400 MW. Vigorous […]

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Equitex to Acquire Hydrogen Power

Equitex, Inc. (Nasdaq:EQTX) announced it has executed an agreement to acquire Hydrogen Power, Inc. through a newly formed Equitex subsidiary. HPI’s stockholders will receive that number of shares of Equitex common stock, at closing, equal to approximately 29% of Equitex’s post closing outstanding common shares. In addition, HPI’s stockholders will receive certain shares of Equitex’s newly created Series L Preferred Stock which, subject to achievement of certain performance benchmarks, shall be convertible in tranches into additional shares of Equitex’s common stock equal to 40% of Equitex’s outstanding common stock before each conversion at 180, 270 and 360 days following the closing date. These benchmarks include HPI development of prototype generators, with marketable value, for various applications of their hydrogen technology including various micro and portable power applications and macro power applications such as fuel cells and internal combustion engines. Equitex has also agreed to immediately loan HPI $3,000,000, $1,000,000 of which was advanced in July 2005, and the balance of which is to be advanced within four days. Hydrogen Power is a Seattle-based company which has licensed a patented technology developed at the University of British Columbia for producing hydrogen gas in a process called Hydrogen Now(TM) – which creates […]

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Weekly Clean Energy Roundup:September 14, 2005

News and Events San Diego Signs Up for 300 Megawatts of Solar Thermal Power Oregon and New York State Offer Solar Energy Incentives New York Provides $15.5 Million for Clean Energy Projects Honda Debuts Improved Civic Hybrid as its Hybrid Sales Hit 100,000 BMW, GM, and DaimlerChrysler Combine Efforts to Develop Hybrid Cars Site NewsEERE Launches Financial Opportunities Web SiteNews and EventsSan Diego Signs Up for 300 Megawatts of Solar Thermal PowerSan Diego Gas and Electric (SDG&E) announced last week that it has signed a 20-year power purchase agreement with Stirling Energy Systems for 300 megawatts of solar power, to be generated by Stirling solar dishes in a three-square-mile array in California’s Imperial Valley. The installation, to be called “SES Solar 2,” will require new transmission lines to carry the power to SDG&E customers. SDG&E also has options for another 600 megawatts of solar thermal power that could be built in two future phases of the solar power project. See the SDG&E press release.Stirling solar dish technology converts solar thermal energy to electricity by using a dish-shaped array of mirrors to focus the sun’s rays on the receiver end of a Stirling engine. The internal side of the receiver then […]

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BP Solar to Build World's Largest Solar Plant in Portugal

According to Luca news agency, the BP PLC unit of BP Solar announced it woill begin building the world’s largest solar plant in Portugal in 2006. Dubbed,Amper Central Solar, the project is expected to be operational in 2009 at a cost of 250 million euros. 350,000 solar panels will be spread over 114 hectares, with the ability d will be able to produce 62 megawatts – more than six times the largest existing solar plant in Germany.

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Utilities, Coal Companies Form FutureGen Industrial Alliance

A coalition of the largest electric utilities and coal companies in the United States announced they have created the FutureGen Industrial Alliance, a non-profit company that will partner with the U.S. Department of Energy (DOE) to facilitate the design, construction and operation of the world’s first near-zero emissions coal-based power plant. FutureGen will demonstrate advanced coal-based technologies and produce hydrogen to power fuel cells for transportation and other energy needs. The technology will also integrate the capture of carbon emissions with carbon sequestration. A 275 megawatt plant will be developed through a public-private partnership led by the seven founding FutureGen Industrial Alliance members: — American Electric Power — BHP Billiton — CONSOL Energy Inc. — Foundation Coal Corporation — Kennecott Energy Company, a member of the Rio Tinto group — Peabody Energy — Southern Company The Alliance has opened membership to companies around the world and expects its membership to grow. The Alliance is working with DOE to secure a final agreement for FutureGen. Once an agreement is reached, the process would proceed to site selection and plant design. “Cutting-edge technology will be employed throughout this prototype plant,” according to FutureGen acting Chief Executive Officer Michael Mudd, American Electric Power’s […]

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