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Week of May 24 – to – May 28, 2010 President Obama tours the beach at Port Fourchon with Parish President Charlotte Randolph. The oil spill resulting from the Deepwater Horizon disaster now officially ranks as the worst in U.S. history. Eager to place a containment dome over a media cycle, that more and more was [...]no comments.
That's clean energy… Earlier this week Google announced the purchase of carbon offsets, for an undisclosed amount, that will support the deployment of a biogas power generation facility in South Carolina. Google spokeswoman Emily Wood emails G.E.R. that it has committed to “pay millions of dollars… for the offsets,” through 2013, but she declined to [...]no comments.
Energate, a Canadian developer of home energy management solutions, is looking to raise as much as $14 million from current and new investors as part of a Series C that could happen in the next 12 months, Marketing Director Karen McNaughton, tells G.E.R. The Ottawa. Ont.,-based company announced today that it had secured $7.2 million [...]no comments.
Energate, a Canadian developer of home energy management solutions, is looking to raise as much as $14 million from current and new investors as part of a Series C that could happen in the next 12 months, Marketing Director Karen McNaughton, tells G.E.R. The Ottawa. Ont.,-based company announced today that it had secured $7.2 million [...]no comments.
Innova Dynamics, the advanced materials spinout from the University of Pennsylvania, will likely tap investors for a Series B sometimes in coming year, company CEO and co-founder Alexander Mittal tells G.E.R. Mittal said the amount is still not settled but would likely be more than the $5.5 million raised as par of the Series A financing [...]no comments.
Expected new wind power capacity for the 2010 – 2025 period 2009 was great, 2010 won’t be as good, that’s the key take away of a study (U.S. Wind Power Markets and Strategies: 2010-2025) released today by IHS Emerging Energy Research, a Boston-based market research firm. IHS forecasts between 6.3 and 7.1 gigawatts of new [...]no comments.
Innova Dynamics, a developer of advanced materials that can be used in the cleantech industry, has raised $5.5 million as part of an inaugural financing led by Rho Ventures. MentorTech Ventures also participated in this Series A round. Innova, a spinout of the University of Pennsylvania, says it will use the cash to scale and [...]no comments.
BP and its armada of flacks are being outdone by a lone Twitter account: BPGlobalPR, launched shortly after the start of the massive BP oil spill. The Twitter account has garnered about six times more followers than BP America’s real twitter account. When a lone Twitter account outflanks your in-house flacks and armada of highly [...]no comments.
Solar power plant developer SunEdison and energy-focused private equity fund First Reserve have formed a venture that will finance solar projects developed by SunEdison. The two companies will first invest an initial $165 million in the venture. However, eventually the fund could hold up to $1.5 billion in investment capital. As part of the venture [...]no comments.
Lu Yeung, a Hong Kong-based analyst covering solar power companies at Bank of America Merrill Lynch, made two crucial calls last year that helped land him the top spot as the best equity analyst covering alternative energy stocks in the Wall Street Journal’s latest ranking, out today. At the depth of the financial crisis, when [...]no comments.
The U.S. Patent and Trademark Office has made it easier for green inventors to protect their intellectual property. On Friday the government agency announced that it had changed the application process for its Green Technology Pilot program in a bid to boost the number of green technologies filing for IP protection. The program was launched [...]no comments.
MEMC Electronic Materials has agreed to buy Solaicx, a Santa Clara, Calif.-based maker of silicon wafers for photovoltaic panels for $66 million. MEMC could pay an aditional $10 million if Solaicx gets additional investments from current shareholders. MEMC owns solar power plant developer SunEdison. Solaicx has raised over $50 million in VC funding from D.E. Shaw, Applied [...]no comments.
Following in Al Gore’s footsteps, former British Prime Minister Tony Blair is looking to cash-in on cleantech opportunities and as has signed-on as a senior adviser with Khosla Ventures, one of silicon Valley’s most ambitious green venture capital fund. On his appointment the former British Prime Minister said: I’m neither a tech expert nor a [...]no comments.
This post by Mark Muro, fellow and policy director, Metropolitan Policy Program at the Brookings Institution, was first published on the Brookings’s Up Front Blog. As the spin cycles speculate on whether the Kerry-Lieberman Senate climate bill has a chance to pass this year, I’ve been looking at its clean energy innovation provisions and am [...]no comments.
Week of May 17 – to – May 21, 2010 Jonathan Nelson, CEO Providence Equity Partners on Charlie Rose this week defending his industry as Congress debate a plan to place higher taxes on partnerships involved in private equity, venture capital and real estate. Could the House help siphon off the venture capital dollars, which [...]no comments.
We learn that a New York-based project finance banker has exited the energy financing group at German bank HSH Nordbank. He’s joining anoter European project finance bank. Gregory Hutton, a v.p. with HSH Nordbank’s energy project finance group, is leaving the bank to join the another Euopean bank, an industry source tells us, who declined [...]no comments.
Japanese auto maker Toyota announced today that it’s investing $50 million in electric-car maker Tesla Motors. As part of the deal Tesla gets its hands on a factory in California, where it will build its Model S car and other vehicles. With Tesla, Toyota gets a platform that will allow it to compete head on [...]no comments.
PeHUB, today released a Top 10 ranking of this year’s largest venture capital deals, so far. And, not surprisingly, half of the 10 deals listed involved cleantech companies. Better Place, the battery service provider, leads the ranking with $150 million raised. Electric automobile maker Codax Automotive takes third place with $158 million raised in equity [...]no comments.
Mid Europa Partners is considering other investments in east European solar and wind companies, Stefan Tzvetkov, a London-based director with the private equity fund, tells G.E.R. With the European Union seeking to cut carbon dioxide emissions by 20 percent over the next decade from 1990 levels, (there’s even talk to cut emissions by 30 percent), [...]no comments.
NTE Energy, which last month entered into a joint venture last month with Energy Investors Funds (EIF) to develop hybrid gas/solar power plants, has hired Mark Daley, director of strategic origination at Independent Power Producer Calpine, as executive vice president, power marketing. Prior to Calpine Daley worked for Florida Power Corporation, which is now known [...]no comments.
Siemens, the German industrial conglomerate, said earlier this week that it was increasing its equity stake in Archimede Solar to 45 percent from 28 percent. Archimede is a joint venture with Angelantoni Industries that develops receivers for Italian CSP solar power plants. Financial terms of the transactions were not disclosed. The J.V. plans to use [...]no comments.
Cleantech-focused PE firm Arborview Capital has completed a recapitalization of Paragon Airheater Technologies, a provider of solutions that reduce fuel consumption and carbon emissions of fossil fuel-fired power plants. No financial terms were disclosed. Other investors included SAIL Venture Partners and Huntington Capital, which also provided mezzanine financing for the transaction. Paragon’s technologies are poised [...]no comments.
San Francisco-based Pattern Energy Group has secured more than $800 million in equity funding and could use some of that cash to fund acquisitions of wind projects, both operating or under development. Of the $800 million, about $400 million come from investment funds controlled by New York-based private equity firm Riverstone Holdings. Pattern is a [...]no comments.
Christiana Figueres, a veteran climate change negotiator from Costa Rica, has been appointed as the United Nation’s head climate change negotiator. She replaces Yvo de Boer, who is leaving after four years as head of the United Nations’s Framework Convention on Climate Change (UNFCCC) for a job at KPMG. Figueres is a surprise choice. Observers [...]no comments.
Mid Europa Partners, a London-based private equity and buyout firm focused on Central and Eastern Europe, has agreed to invest €60 million ($76.19 million) for an undisclosed stake in Energy 21 a Czech developer and operator of PV-solar power plants, it’s first investment in the clean energy space. Mid-Europa has indicated that it plans to [...]no comments.
A-Power Systems, the Chinese wind turbine supplier that is partnering with other Chinese and U.S. companies to build a 600 megawatts wind farm in West Texas, is traveling to Dallas next week for the American Wind Energy Association (AWEA) annual conference. A-Power Systems and its project partners, which include the Shenyang Power Group and U.S. [...]no comments.
First Solar, the thin-film PV company, first-quarter profit rose 4.7 percent to $172.3 million from $164.6 million. First Solar expects sales this year will be between $2.7 billion to $2.9 billion. Because of tightening government subsidies in Europe, to grow sales First Solar is acquiring project developers in the U.S. This week the company paid [...]no comments.
First, the good news, Senator Lindsey Graham (R-S.C.) is not completely turning his back on the energy and climate change bill he co-authored and then walked away from just hours before it was set to be officially rolled out. Now for the bad news, Democrats were set to release later today, a very preliminary draft [...]no comments.
We learn that cleantech-focused private equity fund, NewWorld Capital Group, launched last fall by former Mckinsey and Company Director Carter Bales, is close to announcing a series of inaugural investments. The investments are club deals directly supported by the firm’s founding partners as well as a couple of outside investors and would support at least [...]no comments.
Solar Power Partners (SPP), a developer and operator of solar-powered facilities, has raised $115 million in new financing. The new funding is a combination of tax equity, debt and term debt and was structured by Minneapolis-based U.S. Bank and WestLB AG, the German bank. PeHUB reports that Solar Power previously raised $150 million in [...]no comments.
Interior Secretary Ken Salazar has awarded Boston-based developer Cape Wind a crucial federal permit supporting the development of a landmark, 420 megawatts offshore wind farm off Cape Cod. The federal permit in effect closes a nine-year approval process for Cape Wind, which first announced the project in 2001 but quickly faced intense opposition from a [...]no comments.
Is today the day Boston developer Cape Wind announces it’s clinched a crucial permit from the Department of Interior giving it the right to develop its contentious, 420 megawatts offshore wind farm off Cape Cod? Secretary Ken Salazar is in Boston today, where he’s expected to award a federal permit to Cape Wind in a [...]no comments.
Thin-film PV maker First Solar has acquired NextLight Renewable Power, a developer of utility-scale power project for $285 million. This latest acquisition significantly bolsters First Solar’s project pipeline, adding some 1,100 megawatts of solar projects that are at various stages of development. NextLight is backed by Energy Capital Partners, a clean energy-focused private equity fund [...]no comments.
Senator Lindsey Graham (R-S.C.) could return to the fold and back the energy and climate change bill he abruptly walked away from on Friday evening, reports trade publication The Energy Daily. Yesterday’s meeting between Senators John Kerry (D-Mass.) and Joe Lieberman (I-Conn.) and Senator Graham was not fruitful. Senators Kerry and Graham are starting to [...]no comments.
Joule Biotechnologies, a Cambridge, Mass.-based ethanol developer, has closed $30 million in a second round of funding from a group of undisclosed institutional and private investors. Joule plans to use the cash to expand a pilot plant in Leander, Texas. That plant is 25,000 gallons of ethanol per acre per year and 15,000 gallons of diesel [...]no comments.
Total, the French oil and gas major, has invested an undisclosed sum in ethanol maker Coskata, which has developed a refining process that can turn garbage, old tires and other waste materials into ethanol. Warrenville, Ill.,-based Coskata plans to use proceeds from the Total equity investment to scale production and commercialize its production. Returning investors [...]no comments.
By Mark Boslet, co-editor, TechPulse360 Clean-tech IPOs have yet to prove themselves. Sure, investor excitement is on the rise with Tesla Motors, Solyndra, Amyris and Ameresco preparing to sell shares to the public. Another potential blockbuster, Silver Spring Networks, is said to have chosen its investment bankers. But the track record of recent green IPOs [...]no comments.
SolarBridge Technologies, the Austin, Texas-based microinverter developer has raised $15 million in a series B funding led by new investor Rho Ventures. Returning investor included Battery Ventures, which led the company’s Series A financing. With this latest financing the company has raised $27 million. SolarBridge will use the funding to finalize testing and certification and [...]no comments.
The bill is not dead but it’s in E.R., and on life-support. Today Senators John Kerry (D- Mass.), Joe Lieberman (I-Conn.) and lone Republican Lindsey Graham (R-S.C.), were set to release their energy and climate change bill. A legislation that enjoys support from key industry leaders, environmental groups, and unlike other key Obama legislation had some [...]no comments.
Week of April 19 – to – April 23, 2010 This week, biofuel developer Codexis sold shares as part of its much anticipated Initial Public Offering (IPO). The company sold shares for $13, which was on the low-end of the $13 – to – $15 per share range, raising a total of $78 million. The [...]no comments.
Panda Energy, is not giving up. A little more than a year after walking away from its bankrupt ethanol business, the Dallas energy developer’s solar unit, Panda Solar Ventures, has teamed-up with ConEdison Development, a unit of the New York City electric utility, to develop up to 20 megawatts of solar PV projects on the [...]no comments.
The Obama administration is leaving no stone unturned in its quest to build the country into a greentech power. Today Energy Secretary Steven Chu announced (Happy Earth Day!) a five year, $200 million financing to support “manufacturing-focused research projects that will have near and mid-term impact on the U.S. solar industry.” After supporting manufacturers of [...]no comments.
EverGreen Solar, the Marlboro, Mass.-based maker of silicon wafers for solar panels, raised $165 million in convertible secured senior notes this week. The company says it plans to use some of the cash to finance the expansion of its new manufacturing plant in Wuhan, China. Plans are to expand capacity over the next two years to [...]no comments.
As expected this morning biofuel maker Codexis sold six million shares priced at $13 as part of its Initial Public Offering (IPO), raising $78 million. Shares sold on the low-end of the company’s $13 – to – $15 per share range. The company has an initial market cap of $441 million. Credit Suisse led the [...]no comments.
Another day another huge cleantech venture capital funding round, today Amonix, a Seal Beach, Calif.-based maker of concentrated photovoltaic (CPV) solar power systems, has closed a $129.4 million Series B funding. Kleiner, Perkins, Caufield & Byers led the round. Other participants included Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital, New [...]no comments.
SolarReserve, the Santa Monica, Calif., utility-scale solar thermal power developer, says it expects its $550 million, 100-megawatts Tonopah Solar Energy project to be fully permitted by the end of the year. The project is being developed on federal land in Nevada. CEO Kevin Smith says it’s talking to project finance banks, which he declined to [...]no comments.
Yes, George Soros the activist billionaire is still panning to invest in cleantech, a spokesman tells G.E.R. declining to provide more details as to how and when that could happen. “Plans haven’t changed,” spokesman Michael Vachon tells us. Back in October Soros announced that over the next decade he would invest up to $1 billion [...]no comments.
Jan Van Dokkum, the former president of UTC Power has joined Kleiner Perkins Caufield & Buyers as an operating partner to oversee the VC fund’s growing cleantech portfolio (h/t PeHUB for the info). Van Dokkum will work closely with Kleiner Perkin’s portfolio companies to help them commercialize their technology. Energy storage developer Bloom Energy, biofuel [...]no comments.
Codexis, the biotech company backed by Royal Dutch Shell and Pequot Capital, is on the starting blocks, set to issue shares this week as part of a much anticipated $84 million Initial Public Offering (IPO). According to some reports the share sale could happen Thursday. The Redwood City, Calif., company does not produce biofuel but [...]no comments.
On Friday second-generation biofuel developer Amyris filed an S-1 Initial Public Offering registration statement with the Securities and Exchange Commission (SEC). The document provides a first, ruff glimpse of the company’s overall strategy and what it believes are hurdles that could derail the execution of that strategy. Amyris seeks to raise about $100 million and [...]no comments.
This week industry groups released a slew of optimistic reports that highlighted the robust health of the U.S. clean energy sector. In 2009 U.S. solar capacity grew by 29 percent, according to the Solar Energy Industry Association. Wind according to the American Wind Energy Association was up by 40 percent. Geothermal capacity increased by a more [...]no comments.
Joseph Romm (#8 in our December Top Ten Ranking and #7 in the November ranking) was on Capitol Hill Tuesday testifying before the House Ways and Means Committee on how to use energy tax incentives to establish a U.S. green job economy. His comprehensive testimony calls for an extension of ongoing stimulus-funded measures, including the [...]no comments.
House Ways and Means Committee Chairman Sander Levin (D-Mich.) has launched a series of hearings in view of making more permanent key renewable energy subsidies and tax incentives implemented as part of the stimulus law. The hearings come as Senators John Kerry (D-Mass.) Joe Lieberman (I-Conn.) and Lindsey Graham (R – S.C.) plan to unveil [...]no comments.
Welcome to the March edition of G.E.R.’s Top Ten Players in Green Energy. This month Chevron and its pragmatic green strategy takes the lead. Our ranking takes into account a player’s ability to influence the cleantech industry, whether it be because of a forceful policy position, access to funding or a combination of the two. [...]no comments.
Smart grid startup Eka Systems hired Greentech Capital Advisors as its financial adviser in its acquisition yesterday by Cooper Industries for an undisclosed amount. We caught up with Greentech Capital’s Craig Wellen, who worked on the Eka deal. He expects a healthy M&A deal flow this year in the cleantech sector as large industrial companies [...]no comments.
Element Partners has hired named Sujit Banerjee as a managing director at the firm’s Philadelphia headquarter. Banerjee had been a part-time operating partner last year. At Element Banerjee will oversee the firm’s investments in power storage, semiconductors, and power electronics, and will expand Element’s efforts in photovoltaic. Since joining on a part-time basis he’s co-sponsored [...]no comments.
By Arno Harris, CEO of Recurrent Energy A few weeks ago I flagged a story in the Christian Science Monitor titled “Stimulus Funds for Clean Energy Largely Unspent” because I thought it deserved a clarifying ‘blog post. The story repeats several big misunderstandings about the status of renewable energy programs included in the American Recovery and Reinvestment Act of 2009 [...]no comments.
This morning Cooper Industries announced the purchase, for an undisclosed amount, of wireless smart grid developer Eka Systems. On Monday Sunnyvale, Calif., Maxim Integrated Products said it would pay $315 million for Teridian Semiconductor, a developer of power monitoring device based in Irvine, Calif. On Eka, Cooper Industries says the company’s technology is at an early [...]no comments.
According to Bloomberg New Energy Finance’s latest figures, combined, during the first quarter venture capital and private equity funds invested $2.9 billion in renewable energy companies, compared to $1.7 billion in the last quarter and $1.6 billion in the first quarter of 2009. Notable deals included — not surprisingly — an electric car transaction, the [...]no comments.
Husk Power Systems is close to securing a $1.5 million financing from the International Finance Corporation (IFC), the World Bank’s private investment arm. The funding is expected to be finalized at a meeting in May and follows last month’s $375,000 investment by the Acumen Fund. We first learned of Husk Power from Lynn Tabernacki of [...]no comments.
UK-based CPV developer Circadian Solar has appointed the founder of German thin-film photovoltaic company Johanna Solar Technology, Jeroen Haberland, as its new CEO. He replaces acting CEO Dr Robin Godfrey, who plans to remain at the Company in a business development role. Robert Bosch GmbH acquired Johanna Solar earlier this year. Prior to launching Johanna, [...]no comments.
Michael J. Zimmer is Of Counsel with Thompson Hine LLP in Washington DC. He serves on the American Bar Association’s Renewable Energy and Carbon Trading Committee and the Environmental Finance Committee. He is also vice chair of the American Council On Renewable Energy (ACORE) biomass coordinating council and also serves as executive in Residence at [...]no comments.
Week of April 5 – to – April 9, 2010 Ontario is reaping the benefits of its innovative cleantech regulation. This week, Ontario issued some $8 billion in new renewable energy contracts as part of the province’s year-old feed-in tariff program. Ontario, Canada’s most populous province, has pioneered the use of cleantech as a catalyst [...]no comments.
SunPower, the California solar panel maker, announced today that it’s issued another $30 million in debenture notes, an indication of investor confidence in the medium – to – long-term prospects of solar companies. SunPower initially issued $220 million in debenture notes but had allocated an aditionnal $30 million to meet additional investor demand. The notes [...]no comments.
New York investment bank Cantor Fitzgerald is the lead agent for the $25 million share offering of geothermal developer Raser Technologies. An official at the Provo, Utah-based company tells G.E.R. that it’s never worked with Cantor before. Cantor’s pricing was competitive, the executive says. Although, the clincher for Raser might have been the bank’s experience [...]no comments.
A "casino for wind power" deal might be in the works for Cape Wind. One of the obstacles standing in the way of Cape Wind’s 420-megawatt wind farm off Cape Cod is the Mashpee Wampanoag, whose tribal leaders say the $1 billion offshore facility and its 130 turbines would desecrate tribal burial sites. But is [...]no comments.
Power developer AES acquisition of a UK and Polish wind developer will add 700 megawatts to its European project portfolio. The company’s wind unit, AES Wind Generation, acquired British developer Your Energy Ltd as well as a 51 percent stake in a wind portfolio from 3E, a Polish wind developer. AES is expected to invest [...]no comments.
San Jose, Calif., Chromasun has raised $3 million in a Series A Round of funding. Danish investor VKR Holding led the round. GoGreen Capital and two unnamed U.S. investors also participated. Chromasun develops a solar thermal collectors that use the heat to run air conditioners and the electricity generated by its PV to offset grid [...]no comments.
Yesterday, Stephen Colbert hosted a debate between climate change scientist Brenda Ekwurzel and Weatherman Joe Bastardi. The two came on the Colbert Report set, to debate the recent findings of a recent poll that showed that 25 percent of television weatherman believe climate change is a hoax (Bastardi’s position). Watch: The Colbert Report Mon – [...]no comments.
Yahoo! Europe former Managing Director Toby Coppel is joining Richard Branson’s cleantech-focused private equity fund Virgin Green Fund as a partner in London. The move is yet another indication of how straight technologists are going green and heading to cleantech ventures. As chief strategy officer of Yahoo’s European unit Coppel oversaw $5 billion of acquisitions, including the [...]no comments.
Khosla Ventures is putting more money into Sakti3, the discrete battery developer based in Ann Arbor, Mich, as a returning investor in a $7 million Series B funding round, led by Beringea. Sakti3 was founded in 2007 as a spin out from the University of Michigan by mechanical engineer professor Ann Marie Sastry. Two years ago the [...]no comments.
John Berdner, vice president, technology at GroSolar, the solar panel distributor and installer, has joined PV monitoring solutions company SolarEdge Technologies as general manager for North America. Prior to GroSolar, Berdner launched the North American subsidiary of SMA, the German manufacturer of solar inverter technology. Commenting on his appointment, Berdner said: I am thrilled to join an [...]no comments.
Energy Investors Funds has formed a joint venture with Saint Augustine, Fla., -based NTE Energy to build and operate hybrid power generation facilities in the U.S. The plants will use a combination of natural gas-fired a facility and renewable sources like solar or biomass. According to the joint release, the two companies will announce projects [...]no comments.
Week of March 29 – to – April 2, 2010 The drill flip Why did he do it? That was the question many people asked this week after President Obama endorsed offshore oil and gas drilling along the Atlantic Coast, from Delaware to central Florida, the eastern Gulf of Mexico and Alaska’s north coast. The [...]no comments.
Deutsche Bank Securities, Bank of America Merrill Lynch, Citi and Credit Suisse are the initial purchasers of $220 million in debenture notes — due 2015, issued this week by SunPower, the California solar panel maker. The company plans to use the proceeds to shore up its liquidity and support the buyout of SunRay Renewable Energy, [...]no comments.
By Mark Boslet, co-editor, TechPulse360 Venture capitalists returned enthusiastically to clean-tech investing in the first quarter, increasing their spending. But they shun solar companies for electric cars and backed away from the smart grid. To hedge their bets, they spread their money more broadly than in the past, putting smaller sums in more companies. Clean-tech [...]no comments.
Codexis is prepping its second try at an Initial Public Offering (IPO). This time around the Redwood, Calif., company will try to sell six million shares, priced between $13 and $15 per share, giving the company a potential market valuation of nearly $509 million. Codexis does not manufacture biofuel but has engineered enzymes to convert organic [...]no comments.
Cape Wind knows a good news hook. With offshore dominating the news-cycle (and the Google search terms), the persistent Boston-based offshore wind developer chose today to announce that it has entered into an agreement with Siemens of Germany to purchase up to 130, 3.6-megawatt wind turbines for the 420-megawatt wind farm it wants to build off [...]no comments.
President Obama is set to announce an unprecedented expansion of offshore oil and gas drilling on the Atlantic Coast (as far north as Delaware) as well as the Florida Gulf Coast and parts of Alaska. This is a big shift to the right for the Obama administration and major reversal of the country’s energy policy. [...]no comments.
Petaluma, Calif.-based Enphase Energy, a maker of microinverter builder, has raised $40 million in a private financing led by Bay Partners. New investors also included Horizon Technology Finance, Bridge Bank as well as returning investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures. Including this latest financing Petaluma has raised $65 [...]no comments.
Coda Automotive, the Santa Monica, Calif.-based electric car company, has secured $394 million in long-term financing, including a $294 million line of credit from China’s Bank of Tianjin Joint-Stock Co. The company also secured a $100 million in equity financing, company CEO Kevin Czinger anounced in a blog entry published this morning. Coda secured the [...]no comments.
SunEdison and SkyPower are in discussion with banks to finance part of their $80 million, 18 megawatts Norfolk I and II solar PV projects in Norfolk County, Ontario. Construction on the two solar farms, which are jointly developed by SunEdison’s Canadian unit and Toronto-based SkyPower, began last week. The plants are scheduled to begin operating [...]no comments.
Christian Schade, chief financial officer of Medarex, a biotech company acquired by Bristol-Myers Squibb last year, was appointed CFO of NRG Energy. Schade will oversee the integration of the power utility’s growing renewable energy portfolio. Over the past year the company has purchased wind and solar farms in Texas and across the Western U.S. It [...]no comments.
BP is closing a 40-megawatt photovoltaic manufacturing plant in Frederick, Md., which opened just three years ago amidst fanfare that it would herald a new breed of green collar jobs. Instead, about 320 workers are expected to loose their jobs — see full press release. With the price of silicon PV panels having fallen by more than [...]no comments.
Greentech Capital Advisors senior adviser R. Andrew de Pass We recently spoke to R. Andrew de Pass, a senior adviser with Greentech Capital Advisors, the first investment bank focused solely on the alternative energy and clean technology market. Before joining Greentech, de Pass spent 14 years at Citi, where starting in 2005, he headed the [...]no comments.
Siemens, the German industrial conglomerate, is reportedly looking to build a wind-turbine manufacturing plant in the United Kingdom. The £75 million ($112 million) facility could create 700 direct jobs. This is the second such announcement in less than a week. A few days ago General Electric, Siemens main competitor, said it would invest €340 million ($453 million) [...]no comments.
Week of: March 22, 2010 – March 26, 2010 Solar Millennium is not in trouble, its finances are solid and it only hired an auditing firm to dispel ongoing negative market rumors surrounding the German solar company. In essence, that’s what the company’s flacks told G.E.R. in an email response to questions we sent them several [...]no comments.
German solar thermal developer Solar Millennium says the hiring of Deloitte this week and the abrupt resignation of its newly appointed CEO the week before are not “directly” related. In an email response to questions sent by G.E.R. earlier this week, spokesman Alexander Jacobsen writes that “there are no direct relations” between former CEO Utz Claassen’s [...]no comments.
Governors are pressing President Obama to extend the Advanced Energy Manufacturing Tax Credit, the fiscal incentive funded by the stimulus to boost cleantech jobs in the U.S., and which is set to expire at the end of the year. In a letter, 19 state governors — Republicans and Democrats — propose that the tax credits [...]no comments.
German photovoltaic panel maker Q-Cells and partners EverGreen Solar of the U.S. and Norway’s Renewable Energy Corp., have agreed to sell their shares in Sovello, a solar panel maker, to Ventizz Capital Partners, a private equity firm based in Düsseldorf. The parties did not disclose the terms of the deal — see full press release. [...]no comments.
Jiddu Tapia, vice president of development at Eurus Energy America, has joined Gamesa Energy as chief development officer of the Spanish company’s North American unit. Tapia oversaw the development of Eurus’s 60-megawatt Combine Hills 2 wind project in Oregon, which came online last year. At Gamesa Tapia will oversee the deployment of the company’s new [...]no comments.
Genomatica, a San Diego-based maker of green chemicals, has raised $15 million in a Series C financing led by TPG Biotech, a unit of Texas Pacific Group. Returning investors include Mohr Davidow Ventures, Alloy Ventures and Draper Fisher Jurvetson – see full press release. Part of the proceeds will support the construction of a demonstration [...]no comments.
The back – to – back blizzards that hit the U.S. this past winter led some, mostly at Fox News, to again question the validity of human-made climate change. “It’s just too cold,” they said. In a recent presentation in Australia, Michael Oppenheimer, a leading climate change scientist and co-author of the Intergovernmental Panel on [...]no comments.
Sarkozy is walking away from his campaign promise to tax carbon France has abandoned its carbon tax, fearful that it would hurt the competitiveness of French businesses. The decision underscores how difficult pricing carbon is not just in France but in the U.S. and across the globe. The law was actually one of French President Nicolas [...]no comments.
TerraPower, a company that develops reactors powered by depleted uranium, is in talks with Toshiba in view of developing a small nuclear reactor. TerraPower is a unit of Intellectual Ventures, a patent holding investment firm partially backed by Bill Gates and run out of Bellevue, Wash., by former Microsoft executive, Nathan Myhrvold. Japan’s Nihon Keizai [...]no comments.
Calera, a developer of technology that turns CO2 into building materials, has received a $15 million private equity investment from coal producer Peabody Energy. The proprietary technology developed by Los Gatos, Calif.-based Calera converts CO2 released from power facilities, cement plants or refineries into carbon negative building materials. The Calera process also acts as a [...]no comments.
The Blackstone Group, the New York-based buyout shop, will not develop a coal-fired power plant in Nevada, weighing that the political fallout, at a time when Congress is considering legislation that could significantly alter its business model, was not worth it. For nearly seven years Blackstone’s portfolio company, Sithe Global, has been trying to develop [...]no comments.
Chevron throws a quick slant to green energy. HUT, HUT!!! Is Chevron, which announced yesterday that it has begun testing solar panels at an old California refinery site, positioning itself to become a “pan-energy” company like its competitor BP? Not quite, Chevron’s Vice President of Emerging Energy Jerry Lomax tells G.E.R., but “Project Brightfield” does signal [...]no comments.
Nathaniel Robinson, a merger and acquisition banker at Morgan Stanley, has joined Virgo Capital as a vice president in the Austin office of this tech-focused private equity fund. Morgan Stanley is understood to be in talks with potential replacements, an industry source tells G.E.R. Robinson was in Morgan Stanley’s Global Technology M&A group in Menlo [...]no comments.
First, last week, Solar Millennium’s newly appointed CEO, Utz Claassen, abruptly resigns without any explanations. He had joined the company last December from German power utility Energie Baden-Württemberg (EnBW) and was expected, among other things, to secure a substantial amount of financing to deploy the company’s solar thermal power plants in Europe and the Western [...]no comments.