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Google: Carbon-Neutral by 2008

Google Inc. (Nasdaq: GOOG) announced it will eliminate and offset the rest of all its greenhouse emissions by 2008. “This is just a start,” said Eric Schmidt, chairman and CEO of Google. “We are actively looking for more opportunities to help tackle climate change.” Last week, Google and Intel Corp. (Nasdaq: INTC)announced an initiative to ramp up energy-efficient personal computers and server systems to 90% efficieny by 2010. In other news, Google.org, the philanthropic arm of Google Inc. announced the RechargeIT initiative to accelerate the adoption of plug-in hybrids. It will tender a $10 million request for proposals (RFP) to fund development, adoption and commercialization of plug-ins, fully electric cars and related vehicle-to-grid (V2G) technology. It awarded $1 million in grants. Today, Google’s 1.6MW solar panel installation turned on for the first time at its Mountain View, Calif. headquarters. It is the largest solar installation to date on any corporate campus in the United States and one of the largest on any corporate site in the world. At today’s event, Google teamed with PG&E to demonstrate the bi-directional flow of electricity between plug-ins and the electric grid. “Clean energy technology can dramatically shift how we make and use energy for […]

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Silicon Valley Solar Raises $10.2M

Silicon Valley Solar has raised $10.2 million in a Series A funding round, with Bessemer Venture Partners as the lead investor. “We are very enthusiastic about SV Solar’s approach to this space,” said Justin Label, for Bessamer. “Sol-X technology can leverage mature materials and processes while delivering compelling cost advantages in a very capital efficient way. BVP is impressed with the SV Solar management team, the strategy they have developed to go to market, and the business model enabled by their technology. We believe the addition of NuEdison will serve to accelerate SV Solar’s ability to deliver upon their value proposition.” SV Solar has a 10MW purchase order from Pacific Power Management, a contract manufacturing agreement with GSS, a cell sourcing agreement with ErSol and a collaboration agreement with Conergy. Website: http://www.sv-solar.com     

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Health Care Industry Embracing Green Building

According to the Health Care Green Building SmartMarket(TM) Report: – 60% of respondents think green building will transform the way health care buildings are designed and constructed. – 19% of respondents expect their organization will be significantly involved with green building in 2008 – more than triple the level for 2007. “In this latest study, 91% of the respondents report improved medical facility staff and patient health and well-being as the most important reason for building green,” saaid Harvey Bernstein, vice president of Industry Analytics, Alliances and Strategic Initiatives for McGraw-Hill Construction, which produced the report. It also found that: – Internal management and designers/architects have most influence on going green. – 66% do not think energy reductions are the only reason to go green. – 57% see lack of information on green building to be largest obstacle. – the perception that green building is too costly and doesn’t have ROI benefits persists despite evidence to the contrary. – A third of respondents think lack of a specific LEED program for Health Care is an obstacle Said Rick Fedrizzi, President, CEO and Founding Chair of the U.S. Green Building Council, “Patients can clearly benefit from the natural light and cleaner, […]

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Plans for Texas Offshore Wind Farm Dropped

Plans to build an offshore wind farm in South Texas have been called off by the developer because it didn’t make financial sense. Babcock & Brown Ltd., an Australian wind farm developer and investment bank, has notified the state that it would give up its 30-year lease on 40,000 acres in the Gulf of Mexico. Noting that the project would cost billions, the project off the coast of nature preserve Padre Island, called for 170 turbines, for a tota of 500 MW. A company spokesperson said that offshore wind farms on the East Coast make more sense because of land constraints and higher energy prices in the region. An offshore wind farm could cost double that of an onshore farm. Babcock is moving forward with an onshore wind project in South Texas, which would place 157 turbines across 1000 acres of land. Texas Land Commissioner Jerry Patterson said another developer would be found. Even with the higher costs, he called the location “ideal” and pointed to the ease of doing business with only one landowner – the state of Texas. The state has leased 11,355 acres off the coast of Galveston, where a 50-turbine wind farm is under construction. It […]

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Israel's Gazit Acquires Ormat Shares

Gazit Inc. (GZIT10) has acquired a 12 percent stake in Ormat Industries (NYSE: ORA), the leading geothermal energy producer. Gazit is controlled by Chaim Katzman, who owns real estate investment company Gazit-Globe (GLOB). The 12 percent stake is worth about 700 million shekels ($168 million).

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