GE Commercial Finance to Service Clean Tech Companies

GE Commercial Finance is launching an initiative to provide financial solutions to the growing number of companies focused on clean energy and related technologies. The initiative is a joint effort of GE Commercial Finance’s Technology Lending and Energy Financial Services businesses. Technology Lending, a unit of Global Media & Communications, provides debt financing to technology-related businesses, including emerging growth companies. Energy Financial Services provides financial products including structured equity, leveraged leasing, partnerships and project finance to companies throughout the energy industry. The joint initiative combines the structuring and underwriting expertise of Technology Lending and the industry expertise of Energy Financial Services to provide a full range of financing products and services to companies that deliver clean or renewable energy directly, or develop new technologies for cleaner and more efficient energy generation and distribution. Among the key market segments are distributed generation, including fuel cells, solar/photovoltaics, wind and wave power technology, and biomass gasification; oil & gas, including “clean fuels”; pollution control technologies; transportation components, including motors; energy storage; energy related information technology; and transmission and distribution. “Broad global trends are encouraging development and application of clean energy technologies,” said Bill DeMars, managing director, Technology Lending. “These trends include renewable energy […]

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US Supreme Court Rejects Challenge to Cape Wind

On January 28, the United States Supreme Court denied the petition of the Ten Taxpayers Citizens Group for review of the decision of the First Circuit Court of Appeals which had upheld the Army Corps of Engineers granting of the permit for Cape Wind’s offshore data tower. The Ten Taxpayers argued that Cape Wind’s data tower was subject to the jurisdiction of the Commonwealth of Massachusetts, even though the data tower is located in Federal waters. Jim Gordon, President of Cape Wind, said “We are pleased with the United States Supreme Court decision and we look forward to completion of the permitting review of this important renewable energy project.”

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Pollution Blankets India's Bihar State, Satellite Shows

CHAMPAIGN, Illinois, January 31, 2005 (ENS) – An enormous pool of pollution hangs over the northern Indian state of Bihar in winter, according to American scientists studying NASA satellite data. Affecting around 100 million people, most in the Ganges Valley, the pollution levels are about five times greater than those found over Los Angeles. The discovery was made by researchers analyzing four years of data collected by the Multi-angle Imaging Spectro-Radiometer (MISR) onboard the Terra satellite. Launched into orbit on December 18, 1999, Terra is the flagship of NASA’s Earth Observing System Program. “This study is the most comprehensive and detailed examination of industrial, smoke and other air pollution particles over the Indian subcontinent to date, and reveals how topography, meteorology and human activity help determine where these particles are concentrated,” said Larry Di Girolamo, a professor of atmospheric sciences at the University of Illinois at Urbana-Champaign and a co-investigator on the MISR mission. High pollution levels were found over much of India, and a concentrated pool of particles was discovered over Bihar, a rural area with a high population density. The inefficient burning of a variety of biofuels during cooking and other domestic use emits particles in the smoke […]

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United Solar Signs 1.5 Megawatt Agreement with Conergy

United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc. (ECD Ovonics) (Nasdaq: ENER), signed a two-year distribution agreement with Conergy AG of Germany for 1.5 MW of photovoltaic (PV) products. Conergy AG, a supplier of solar systems based in Hamburg, will distribute UNI-SOLAR(R) products in France, Greece, Spain, and Switzerland through its main subsidiaries. “Our distribution agreement with Conergy is an excellent fit with our overall strategy to expand our presence in these emerging markets with a key focus on Spain,” said Christian Berg, United Solar Ovonic’s European Sales Manager. Unlike traditional crystalline technology, which typically uses heavy, glass panels, UNI-SOLAR(R) products are flexible, durable, lightweight, and easy to install. Because of these characteristics, UNI-SOLAR(R) products offer the ideal solution for both grid-connected and off-grid solar electric systems. Additionally, independent studies in Europe and elsewhere have shown that our triple-junction products deliver more energy per rated power than the conventional crystalline products — demonstrating “Ovonics@work.” “Conergy’s customers expect system components from us that are of the highest quality. Therefore, United Solar Ovonic’s durable, lightweight, thin- film modules are an excellent complement to our solar product portfolio,” stated Hans-Martin Ruter, Conergy’s Chief Executive Officer. About United Solar […]

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Barclays Announces First U.S. Exchange-Traded Fund for Social Investors

Barclays Global Investors, N.A. (BGI) has launched the first exchange-traded fund designed specifically for socially responsible institutional and individual investors. The iShares KLD Select Social Index Fund seeks to maximize exposure to large capitalization companies that have positive social and environmental characteristics while at the same time maintaining risk and return characteristics similar to the Russell 1000 Index. The Fund tracks the KLD Select Social Index from KLD Research & Analytics, Inc., a Boston-based independent investment research and index firm with expertise in socially responsible investing (SRI). The iShares KLD Select Social Index Fund has an expense ratio of 0.50% and began trading January 28, 2005, on the NYSE under the symbol “KLD.” “The iShares KLD Fund provides socially responsible investors with what we believe is a more thoughtful portfolio approach to optimizing positive social and environmental criteria while seeking to reduce sector risk,” said Lee Kranefuss, CEO of Barclays Global Investors’ Intermediary Business. The iShares KLD Select Social Index Fund relies on the KLD index’s optimization technique that over-weights and under-weights companies based on their social and environment performance, as evaluated by KLD, across sectors while seeking to control investment risk similar to the Russell 1000 Index. The Index […]

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