By Sheila McNulty in Houston
Published: September 1 2010 00:07 | Last updated: September 1 2010 00:07
Exelon, the US’s biggest nuclear generator, has announced it will buy John Deere Renewables for as much as $900m to gain a foothold in the wind power industry.
Exelon’s attempt to diversify underlines the lack of momentum in the US nuclear industry, despite support given by the Obama administration earlier this year.
Under the agreement, Exelon will acquire 735 megawatts of operating wind capacity for $860m. The deal provides for an additional $40m upon commencement of construction on 230 advanced development projects.
About 75 per cent of John Deere’s output was sold under long-term power purchase agreements. As part of the deal, Exelon can pursue 1,468MW of new wind projects in various stages of development, including the 230 in advanced stages. It has the option of not continuing with some of the projects.
The acquisition signals renewed interest in investment in the energy sector that has been damped for several years by uncertainty surrounding the economy and proposed energy legislation.
“Uncertainty really does stifle investment,’’ said Peter Robertson, independent senior advisor for oil & gas at Deloitte and former vice chairman of Chevron’s board. “All of these threats of pending changes add onto the uncertainty.”
While that uncertainty has not cleared, those who have stockpiled cash are keen to spend it and deals have gained momentum in recent months.
Exelon has long been a proponent of clean energy legislation and built up its nuclear portfolio as a low-carbon option. It says it is the least carbon-intensive of the large US electric utilities. This transaction marks its entry into owning and operating wind projects.
Exelon, with more than $17bn in annual revenues, will finance the transaction with debt from one of its subsidiaries, Exelon Generation.
It had been banking on nuclear as the US fuel of the future, given the momentum for carbon reduction in recent years. But as that momentum has slackened, nuclear’s renaissance in the US has faded.
In February, the Obama administration tried to spark interest in nuclear, announcing $8.3bn in loan guarantees to help Southern Co build two reactors in Burke, Georgia.
Southern was among four companies named last year as being considered to share $18.5bn in federal loan guarantees to build new nuclear power facilities after reticence about potential disasters meant no reactor had been built in the US in almost three decades.
Wednesday, 1 September 2010
Biofuels Falling Well Short of Green Standards in UK
by Matthew McDermott, New York, NY on 08.31.10
Science & Technology (alternative energy)
Now that we've got some distance from the 'biofuels are going to save us, oh wait they're going to kill everything else' hysteria of a couple years back and some sane skepticism has emerged, how well are we doing? As the BBC reports, in the UK at least it's a mix bag: Volume targets are being met, but some fuel suppliers are falling "well short" of their own green standards.
Based on 2009/2010 data the Renewable Fuels Agency says the official government target of 3.25% of sales coming from biofuels has been exceeded, with 3.33% of sales (nearly 1.6 billion tons) coming from renewable fuels. However, the RFA was "disappointed that more companies did not source more fuel that was produced according to a recognized environmental standard."
The goal for 2009/2010 was 50% of biofuels meeting environmental standards, but overall only 33% did so. The RFA notes that 80% of the biofuel feedstock was imported, and most was not subject to meeting a green benchmark.
Land-Use Change Emissions Not Included in Savings
The report notes that emission targets for biofuels have been met, and exceeded--the target was 45% emission savings over fossil fuels, and 51% savings were realized. However (and this is a very important 'however'), that stat is based only off directly measurable savings from fossil fuels and did not take into account emissions from land-use changes occurring directly from growing the biofuel feedstocks.
Science & Technology (alternative energy)
Now that we've got some distance from the 'biofuels are going to save us, oh wait they're going to kill everything else' hysteria of a couple years back and some sane skepticism has emerged, how well are we doing? As the BBC reports, in the UK at least it's a mix bag: Volume targets are being met, but some fuel suppliers are falling "well short" of their own green standards.
Based on 2009/2010 data the Renewable Fuels Agency says the official government target of 3.25% of sales coming from biofuels has been exceeded, with 3.33% of sales (nearly 1.6 billion tons) coming from renewable fuels. However, the RFA was "disappointed that more companies did not source more fuel that was produced according to a recognized environmental standard."
The goal for 2009/2010 was 50% of biofuels meeting environmental standards, but overall only 33% did so. The RFA notes that 80% of the biofuel feedstock was imported, and most was not subject to meeting a green benchmark.
Land-Use Change Emissions Not Included in Savings
The report notes that emission targets for biofuels have been met, and exceeded--the target was 45% emission savings over fossil fuels, and 51% savings were realized. However (and this is a very important 'however'), that stat is based only off directly measurable savings from fossil fuels and did not take into account emissions from land-use changes occurring directly from growing the biofuel feedstocks.
Global Solar rolls out stick-on solar panels
by Martin LaMonica
Glue may be the magic ingredient to making solar power cheaper.
Solar company Global Solar on Tuesday introduced a line of flexible solar modules that are designed for flat commercial rooftop buildings.
Rather than install racking systems to hold heavy glass-covered solar panels, the company's PowerFlex BIPV modules can be adhered onto a roof or built right into roofing materials. The modules are quicker to installer, lighter, and don't require any penetrations into the roof, according to the company.
Global Solar's solar modules use thin-film solar cells and can be attached to flat roofs without racking.
(Credit: Global Solar) The installed cost of Global Solar modules is about the same as traditional polycrystalline silicon panels with racks, said Jean-Noel Poirier, the vice president of marketing and business development. But because there is no need for spacing between racks, the flexible thin-film modules can cover more roof space and generate more power, he said.
The company plans to sell its solar modules--long strips of solar panels almost 19 feet long and 1.5 feet wide--through roof membrane manufacturers. The solar cells are made from a combination of copper, indium, selenium, and gallium (CIGS) and perform comparatively well in areas that don't have direct sun, Poirier said.
The company plans to get certification for the modules, which are being evaluated by roofing membrane companies now, by the end of the year and hopes to start production early next year.
Global Solar, one of many solar companies developing CIGS solar cells and modules, now has 75 megawatts worth of production capacity at two plants in Tucson, Ariz., and Berlin. Until now, the company has supplied solar cells to panel manufacturers, but it's now manufacturing its own modules for building-integrated photovoltaics, said CEO Jeff Britt.
.
Read more: http://news.cnet.com/8301-11128_3-20015164-54.html?part=rss&subj=news&tag=2547-1_3-0-20#ixzz0yGlNOfGg
Glue may be the magic ingredient to making solar power cheaper.
Solar company Global Solar on Tuesday introduced a line of flexible solar modules that are designed for flat commercial rooftop buildings.
Rather than install racking systems to hold heavy glass-covered solar panels, the company's PowerFlex BIPV modules can be adhered onto a roof or built right into roofing materials. The modules are quicker to installer, lighter, and don't require any penetrations into the roof, according to the company.
Global Solar's solar modules use thin-film solar cells and can be attached to flat roofs without racking.
(Credit: Global Solar) The installed cost of Global Solar modules is about the same as traditional polycrystalline silicon panels with racks, said Jean-Noel Poirier, the vice president of marketing and business development. But because there is no need for spacing between racks, the flexible thin-film modules can cover more roof space and generate more power, he said.
The company plans to sell its solar modules--long strips of solar panels almost 19 feet long and 1.5 feet wide--through roof membrane manufacturers. The solar cells are made from a combination of copper, indium, selenium, and gallium (CIGS) and perform comparatively well in areas that don't have direct sun, Poirier said.
The company plans to get certification for the modules, which are being evaluated by roofing membrane companies now, by the end of the year and hopes to start production early next year.
Global Solar, one of many solar companies developing CIGS solar cells and modules, now has 75 megawatts worth of production capacity at two plants in Tucson, Ariz., and Berlin. Until now, the company has supplied solar cells to panel manufacturers, but it's now manufacturing its own modules for building-integrated photovoltaics, said CEO Jeff Britt.
.
Read more: http://news.cnet.com/8301-11128_3-20015164-54.html?part=rss&subj=news&tag=2547-1_3-0-20#ixzz0yGlNOfGg
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