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SolarWorld AG (SWV.DE) reported that its Deutsche Solar AG subsidiary has entered into new long-term silicon supply agreements with a number of globally operating cell and module manufacturers. The orders will be fulfilled through 2018 at a total value of EUR 1.5 billion. 51% of the orders are from Europe, 37% are from Asia, where China and Taiwan account for 16%. 12% will be shipped to North America. Deutsche Solar now has an order backlog of EUR 4 billion. Deutsche Solar is also providing roughly the same amount for internal use at SolarWorld. In other news, SolarWorld announced it will supply solar modules to 44 villages in China, part of its largest solar off-grid project to date. The company has already supplied 99 villages with modules that supply lighting and refrigeration, as well as other electrical appliances. For 44 villages in the West Chinese province of Qinghai the SolarWorld Group will supply 4,800 solar modules with an output of 80 Watt each.
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Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products with its proprietary, low-cost String Ribbon(TM) wafer technology, announced the pricing of its public offering of 15,000,000 shares of its common stock. The public offering price of $8.25 per share will result in gross proceeds of $123.75 million and net proceeds, after underwriting commissions and other offering expenses, of approximately $117.37 million to Evergreen Solar. The offering is expected to close on or about May 30, 2007. Evergreen Solar expects to use the net proceeds of the offering primarily for manufacturing expansions, to secure the supply of key raw materials, including silicon, as well as for general corporate purposes, including working capital. Lehman Brothers Inc. is the sole book-running manager of the offering and Piper Jaffray, Cowen and Company and Pacific Growth Equities, LLC are co-managers. About Evergreen Solar, Inc. Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The Company’s patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar’s products provide reliable and environmentally clean electric power for residential and commercial applications globally.
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NaiKun Wind Development Inc. has entered into a Memorandum of Understanding (MOU) with the Haida Nation regarding Phase 1 (320MW) of the proposed offshore wind farm project in Hecate Strait. The MOU is subject to the project receiving an Environmental Assessment that determines the project can proceed without material adverse effect on the region’s environment as assessed by the Council of Haida Nation, Canada and British Columbia. The region is particularly rich in crab and seabirds. Under the terms of the MOU, NaiKun and the Haida Nation have established a framework to govern the relationship between the Haida Nation and NaiKun regarding the construction and operation of the project, which is expected to begin construction in 2009. The agreement also establishes a formal commercial relationship in which the Haida Power Authority will participate in the subsidiary, NaiKun Operating Company (Opco), the entity which will be responsible for providing operating and maintenance services to the wind power project. The agreement also contemplates employment and training opportunities as well as marketing of greenhouse gas credits from the wind farm. NaiKun Wind Energy Group Inc. is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. […]
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Zoltek Companies Inc. (Nasdaq: ZOLT) has signed an expanded long-term supply agreement with Vestas Wind Systems AS, of Denmark, the world’s largest producer of wind turbine generators. Under the agreement, Zoltek remains the Preferred Supplier of carbon fibers to Vestas. Based on current commitments and pricing, Zoltek expects to provide Vestas with over $300 million of carbon fiber and carbon fiber materials over the first five years of the agreement, for the manufacture of rotor blades for wind turbine generators. Zoltek will supply Vestas factories around the world – Europe, U.S., Spain and China. Zoltek anticipates expanding nameplate carbon fiber capacity from 2,800 metric tons in 2005 to 10,800 metric tons by early 2008. “This new agreement reflects continued confidence in the expanded use of carbon — both in terms of performance benefits and supply availability,” noted Tim McCarthy, Vice President Sales and Marketing, Zoltec. “Larger, lighter and stiffer rotor blades produced from carbon fiber are the key enabling factor in allowing other turbine components and structures to be lightened and designed more optimally in an integrated fashion.”
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A unit of state-owned Philippine National Oil Co. has signed a US$1.3 billion deal with UK-based NRG Chemical Engineering to build biofuel refineries and plantations in the Philippines. The investment will be spread over five years and involves building a US$455 million biofuel refinery within the next three years. The companies plan to plant over a million hectares of biofuels crop jatropha in the Philippines.
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The House Committee on Foreign Affairs overwhelmingly approved legislation to step up U.S. involvement in stopping global warming and urging the Administration to take a true leadership role in this matter of international urgency. “This bill signals a turning point in United States engagement with the international community on global warming,” Chairman Tom Lantos (D-CA) said before the committee voted 29-16 to support the bill. “No longer will we debate and delay endlessly concerning this crisis. We will finally act to curtail global warming in a far-reaching and significant way.” The International Climate Cooperation Re-engagement Act (H.R. 2420), which is co-sponsored by Congressmen Chris Smith (R-NJ) and Ed Markey (D-MA), underscores the global consensus that the concentration of greenhouse gasses in the earth’s atmosphere must be reduced through a coordinated international response. It mandates serious U.S. re-engagement in the effort to reach a global agreement that requires binding emissions mitigation commitments from all the major emitters, including China, India, and Brazil. And it supports energy export policy and assistance programs that will promote clean-energy production in even the poorest countries. Where currently low-level negotiators have been sent by the United States to key international meetings on climate change, under the […]
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Rohm and Haas Company (NYSE: ROH) announced it would allocating $150 million – roughly half of its 2007 R&D budget – for sustainability efforts, including new product development, energy efficiency and process improvements. Many of the new products are intended to help transform traditional industrial applications to more sustainable, water-based acrylic technology, including home building insulation, road/highway marking paints, and industrial paints and coatings. Rohm and Haas introduced acrylic emulsion technology – which emit low amounts of volatile organic compounds (VOCs) for interior house paints over 50 years ago. About 85% of the paints sold in the US are based on acrylic technology today. “We see great potential to use our deep understanding of coatings technology to convert industrial applications to safer, water-based products,” says Luis Fernandez, Vice President and Group Director responsible for Rohm and Haas’s $2 billion Paint and Coatings Materials business. “We estimate that, today, only about 20 percent of the industrial market has shifted to the more environmentally advanced acrylic technology. We have the products, and the technical knowledge, to be the catalyst that will accelerate the shift.” Website: [sorry this link is no longer available]
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General Electric (NYSE:GE) reported that revenues from its Ecomagination portfolio of energy efficient and environmentally advantageous products and services surged past $12 billion in 2006, up 20% from 2005, while the order backlog rose to $50 billion. “These extraordinary revenues and orders are the initial payoff from directly aligning our product portfolio with our customers’ needs and evolving trends, while ‘doubling-down’ on investments in leading edge technology and innovation,” said GE Chairman and CEO Jeff Immelt. “Ecomagination is growing beyond our expectations, evolving into a sales initiative unlike any other I’ve seen in 25 years at GE.” GE made progress on each of its Ecomagination commitments in 2006: 1) Double its investment in clean research and development: GE invested $900 million in cleaner technology research and development in 2006, drawing closer to its $1.5 billion annual ecomagination R&D target by 2010. GE also increased the number of ecomagination-certified products 50% over the last year – from 30 to 45 products. 2) Increase revenues from ecomagination products: GE reported $12 billion in revenues from ecomagination products and services in 2006, on course to the goal of $20 billion in sales in 2010. 3) Reduce its greenhouse gas (GHG) emissions and improve […]
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The CEO of American Superconductor Corp. (Nasdaq: AMSC) and Director of Pacific Ethanol (Nasdaq: PEIX) have sold shares of their common stock. AMSC CEO Gregory Yurek exercised options for 89,425 shares of common stock under a prearranged 10b5-1 trading plan which allows company insiders to set up a program in advance for such transactions . According to SEC filings, he exercised options for $3.53 and $12.56 apiece and then sold all 89,425 shares on the same day for $16.69 to $18 apiece. Pacific Ethanol Director William Jones sold 57,726 shares of common stock for $14.51 to $14.76 apiece.
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