There were several big developments concerning China this week.
eSolar has licensed its concentrating solar power (CSP) technology to Penglai Electric, a
power equipment manufacturer that plans to build at least 2 gigawatts
(GW) of solar thermal power plants in China over the next 10 years. The deal is similar to licensing agreements eSolar signed last year in India and South Africa. eSolar was founded out of the Idealab business incubator in Pasedena California, and its modular and scaleable design was supported in the venture stage by Google.org. The first 92-megawatts (MW) project is expected to break ground in China later this year.
GE (NYSE: GE) announced an agreement to bring smart grid technologies to China. GE will hardwire the City of
Yangzhou, located on the Yangtze River in three phases to serve as a demonstration for a range of smart grid products and capabilities. The
city has a population of about 1.5 million people and is a hotspot for business development. In addition to smart meters and home energy management systems, GE said the initiative may also include home-based charging stations for plug-in hybrid electric vehicles (PHEVs).
US lithium-ion battery maker A123 Systems (Nasdaq:AONE) is forming a joint venture with major Chinese automaker SAIC Motor Co. Ltd (600104.SS). The new venture, called Shanghai Advanced Traction Battery Systems Co.
(ATBS) will develop, manufacture and sell battery systems
for use in hybrid electric and pure electric passenger vehicles and
heavy duty truck and bus applications in China. A123 will provide the battery cells for the venture and the two companies will work together to integrate them into battery systems for future SAIC vehicles. The joint venture is a big win for A123, giving the company direct access to the fastest growing automotive market in the world. The company previously won a contract to supply batteries for future electric vehicles made by Chrysler. But those vehicles appear to be on hold following Chrysler's change of leadership in November.
Daqo New Energy Corp, a Chinese producer of polysilicon for the photovoltaic solar industry,
has filed for an initial public (IPO) offering on the New York Stock
Exchange. Reuters reported that the company intends to raise up to $108
million, by pricing American Depositary Shares (ADS) between $12.50 and $14.50 per share. The company
reportedly has plans to expand into production and
installation of solar panels. And it lists solar cell makers Yingli Green Energy (NYSE: YGE) and ReneSola (SOLA.L) as two of its biggest customers.
In the US, the big story was the award of $2.3 billion dollars in manufacturing tax credits to more than 150 cleantech companies in 43 different states. The investment tax credits are part of the Recovery Act and are worth up to 30% of each planned project. The Obama administration said the funds will leverage private capital for a total investment of nearly $7.7billion. And the companies selected said they will create a combined 17,000 jobs. You can link to a list of awardees on the website. Many of the are companies we cover regularly here on the show.
A group of Texas business leaders
announced Wednesday that they have secured funding to begin the first phase of what they say will be a $10 billion energy project in West Texas.
The investors in Republic Power Partners have committed $40 million to conduct necessary feasibility studies for
the generation of 4,000-6,000 MW of electricity.
The group says the project will generate electrical power from
renewable resources such as wind, solar and biomass, as well as natural
gas and so-called "clean" coal. Generation could begin as early as 2012, the group said. And Texas Tech University is onboard to supply guidance through its
Wind Science and Engineering Research Center.
Mountain View, California-based Cobalt Technologies launched a pilot facility for biobutanol as a
renewable fuel. Cobalt says the advantage of its form of biobutanol is its versatility. It can be
used as a standalone fuel; blended with gasoline, diesel and ethanol;
converted into jet fuel or plastics, or sold as is for use in paints
and coatings. It is also a drop-in fuel, meaning it is fully compatible
with today's automobile engines and pipeline infrastructure.
Cobalt
uses non-food feedstock, such as forest waste and mill residues. The company says
its technology reduces greenhouse gas emissions by 85% compared
to gasoline. The company said it hopes to build a commercial-scale facility within two years.
