The majority of big headlines this week come from the solar power
industry, where the consolidation that has been expected for several
months appears to be underway.
First Solar (NASQAQ: FSLR) on Monday said it will acquire the solar
power project pipeline of rival OptiSolar for $400 million in stock. The acquisition includes a 550 megawatt (MW) project under a power
purchase agreement with California utility PG&E (NYSE: PCG), as
well as projects representing 1,300 MW of power that are in negotiation
with other Western region utilities.
Fotowatio, one of Spain’s largest independent solar power producers,
has agreed to purchase the core U.S. solar power assets of San Francisco-based MMA Renewable Ventures. This includes the
largest U.S. solar photovoltaic installation, located at Nellis Air Force
base. After the sale, Fotowatio will own 35 MW of solar projects in operation and
more than 400 MW in development in the United States. Financial terms of the
acquisition were not disclosed.
In other solar news, NV Energy, Inc. (NYSE: NVE) and Solar Millennium, LLC, together with
its joint venture partner MAN Ferrostaal Inc., signed a memorandum of understanding to develop one or more large-scale solar power facilities in southern
Nevada. The initial project under consideration is a 250-MW concentrating solar power plant, that will include
thermal storage, enabling the plant to produce energy beyond daylight
hours. Plans call for the project to be completed in 2013 or 2014.
California-based solar thermal company eSolar announced another big licensing agreement this week. This time with the ACME Group,
which will invest $30 million in the company in exchange for exclusive
rights to build up to 1,000 MW of eSolar’s modular power plants in
India. This partnership represents eSolar’s first international
licensing agreement. Two weeks ago the company announced a
non-exclusive agreement with New Jersey power company NRG Energy.
SunEdison, one of North America’s largest solar energy services
providers, has closed $20 million in project financing with Union Bank,
N.A., despite the difficult credit situation facing the renewable
energy industry. The funds provide initial financing on two projects, including a
1.7-MW installation for the City of
Rifle, Colorado. Equity investors in SunEdison include Goldman Sachs (NYSE: GS),
MissionPoint Capital Partners, and Allco Finance Group (RGL.BE).
Spanish Renewable energy developer Acciona (ANA.MC) has sold a 34% stake in one of its solar subsidiaries to Japan’s Mistubishi Corporation
(MSBHY.PK) for an undisclosed sum. The company, Amper Central
Solar is the developer of the massive Amareleja solar plant in
Portugal. Acciona and Mitsubishi said they intend to move forward with
numerous sustainable energy collaborations.
Biogas company Microgy,
Inc. has signed a long-term agreement to sell gas derived from animal waste to Xcel Energy
(NYSE: XEL), which will burn the carbon neutral gas in one of its
natural gas-fired power plants in Colorado. The gas will be sold
on a fixed-price basis at a premium to the current market price for
traditional natural gas.
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