Phoenix Solar Signs 25Mw Contract in Greece

Together with KG Allgemeine Leasing GmbH & Co. (KGAL), the Phoenix Solar Group is expanding into the Greek solar market. To this end, Phoenix and KGAL have signed a project development contract for a photovoltaic output of more than 25 megawatts with a local project developer situated in Athens, Greece. Owing to a law on feed-in tariffs for renewable energies passed in Greece last year, the country has now become one of Europe’s most attractive solar markets. In this sunny country, the remuneration for one kilowatt hour (kWh) of solar electricity fed into the grid is 40 Eurocents for PV plants of more than 100 kW peak power output on the mainland and as much as 45 Eurocents / kWh for plants of this size on the Greek islands. The tariffs are adjusted every year to take account of inflation. The local Greek partner has been commissioned by a company founded by Phonix Projekt & Service AG and KGAL to develop seven solar projects in various districts on mainland Greece. Phonix Projekt & Service AG is a wholly owned subsidiary of Phoenix Solar AG. The land needed for the construction of the solar electricity plants has already been secured by […]

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Renewables Increased 7% Says EIA

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Color Kinetics' Shareholders Approve Philips Merger

Color Kinetics Incorporated (Nasdaq: CLRK) announced that its shareholders at a special meeting held in Boston, Massachusetts today have adopted the merger agreement under which Color Kinetics is to be acquired by Philips Holding USA, Inc., a subsidiary of Koninklijke Philips Electronics, N.V. (NYSE: PHG, AEX: PHI). The merger agreement was announced by Philips and Color Kinetics on June 19, 2007. Completion of the transaction remains subject to the satisfaction or waiver of other conditions and terms of the merger agreement. The merger is expected to close on or about August 24, 2007. Website: http://www.colorkinetics.com     

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Vestas Reports Q2 Earnings

Vestas reported second-quarter operating earnings above market consensus on Tuesday and maintained its full-year profit and sales outlooks. Earnings before interest and tax (EBIT) were EUR 90 million, against an expected profit of EUR 66 million in a Reuters poll and EUR 28 million in the first quarter of 2006. The company posted sales of EUR 1.1 Bn, in line with the estimate in the poll and up from EUR 900 million in the first quarter last year. The company maintained its full-year outlook for sales of about EUR 4.5 Bn and an EBIT margin of 7 to 9 percent. Website: [sorry this link is no longer available]     

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