Policy, investment and markets News for May 2011

Policy, investment and markets News Archive

UK pumps £220m into green and renewable economy

The UK Government has announced it will invest over £200 million on innovation centres focusing on green and renewable energy, and £20m into two clean technology funds.

£10m renewable energy bond in the UK

Wind Prospect Group has launched a £10 million corporate retail bond onto the UK market for renewable energy.

Further details on UK Green Investment Bank

UK Business Secretary Vince Cable has given more detail on the governance and business model of the Green Investment Bank (GIB).

REC cuts solar production on tough market

Renewable Energy Corporation ASA (REC) says it will reduce production of solar wafers, cells and modules, from 1 July in response to the current market conditions, cutting 500 jobs.

UK Green Investment Bank a step closer

The UK Green Investment Bank (GIB) is one step closer to operation as Deputy Prime Minister Nick Clegg outlines further details.

Ceramic Fuel Cells, RES Group sign BlueGen sales, service agreement for UK

Ceramic Fuel Cells Ltd has signed a distribution agreement with RES On-Site Ltd to market, sell, install, and service Ceramic Fuel Cells’ BlueGen™ solid oxide fuel cell gas-to-electricity units in the UK.

Gamesa to invest €50m in renewable energy companies

Gamesa will invest up to €50 million over the next five years to buy stakes in companies developing promising renewable energy technologies.

UK aims to lead the pack on addressing climate change

The UK is to put in place the most ambitious targets on greenhouse gases of any developed country, with the Government saying it will halve carbon dioxide emissions by 2025.

All-Energy: Scotland aims for 100% renewable energy

Scotland’s First Minister Alex Salmond said in a recording played at All-Energy that the Scottish Government aims for 100% renewable energy by 2020.

All-Energy: Renewable energy priorities for the new Scottish Government

Scottish Renewables has outlined what the re-elected Scottish Government must do to meet its proposed target of 100% renewable energy by 2020.

UK could be a renewable energy goldmine

The UK could be sitting on a renewable energy goldmine if the Government gets the Electricity Market Reform right, according to KPMG.

UK Government should be upfront about nuclear subsidies

The UK Government should be upfront about nuclear ‘hidden’ subsidies, warns the Energy and Climate Change Committee (ECCC) in its review of the Electricity Market Reform (EMR).

Ecuador adopts feed-in tariffs

The electricity authority of Ecuador adopted a system of feed-in tariffs for the development of renewable energy in April 2011. The regulations cover both continental Ecuador and the Galápagos Islands.

Korean green growth centre opens in Denmark

The Republic of Korea’s Global Green Growth Institute (GGGI) is establishing its first regional office outside the Republic of Korea at Risø DTU in Denmark.

Gamesa Q1 profit soars on new markets

Gamesa has seen a 67% jump in net profit to €13 million in the first quarter (Q1) of 2011 with international markets driving sales.

SolarWorld reports strong Q1 2011

SolarWorld has seen a strong first quarter (Q1) of 2011 with net income more than doubling to €12.5 million compared to the same period last year.

Conergy increases sales despite difficult market

Conergy has seen an 8.6% rise in sales in the first quarter of 2011 to €163.3 million despite difficult market conditions.

Q-Cells hit by weak demand and regulatory uncertainty

Q-Cells’ first quarter (Q1) results have been hit by weak demand and regulatory uncertainty in France and Italy with sales dropping 46% to €125.1 million.

Solar PV module shipments decline for first time in two years

Solar photovoltaic (PV) module shipments declined in Q1’11 compared with the previous quarter, for the first time since the beginning of 2009, says IMS Research.

First Solar and China Power cooperate on solar PV

US solar thin-film giant First Solar has entered a strategic cooperation framework agreement with China Power International New Energy Holding Ltd (CPINE) for solar photovoltaic (PV) projects in China, the US and other international markets.

IPCC report: 80% renewable energy by 2050

Renewable energy could contribute 80% of global energy supply by 2050, according to a report from the Intergovernmental Panel on Climate Change (IPCC).

UK should aim for 30% renewable energy by 2030

The UK Committee on Climate Change (CCC) has concluded that a renewable energy share of around 30% by 2030 would be “appropriate.”

Insurance partnership for South African renewable energy

Insurance provider GCube and South African underwriter C&G have entered a partnership with a total capacity available of just under ZAR4 billion for new renewable energy projects in South Africa.

UK Policy Exchange calls for abolishing EU renewable target

The UK think tank Policy Exchange is calling on the UK to abolish its EU renewable energy target and rather focus on energy efficiency and other low-carbon technologies.

Italy passes feed-in tariff extension

Italy has passed Conto Energia IV under which current renewable energy tariffs will be reduced on a monthly basis until the end of 2012, effective from 1 June 2011.

Updated: Conergy launches solar module in Canada

Conergy Group is launching its Conergy ON solar photovoltaic (PV) modules to the Canadian market and has entered a manufacturing agreement in Ontario to ensure the solar modules are compliant with Ontario feed-in tariff requirements.

Offshore wind needs industry-specific safety regulations

There is a need for specific offshore wind regulations to prevent accidents when developing offshore wind farms, according to offshore safety professionals.

Sunways falls into loss in Q1 2011

Sunways AG has reported an EBIT loss of €3.5 million in the first quarter (Q1) of 2011 compared to an operating profit of €4.7m in the same period last year.

Vestas’ net loss doubles in Q1 2011

Vestas has seen its net loss more than double to €85 million in the first quarter (Q1) of 2011 compared to the same period in 2010 due to a low level of activity during the period.

Oil giant Total takes majority stake in SunPower

Oil and gas giant Total is buying 60% of SunPower’s Class A and B common shares for US$23.25 per share.