9 July '10
4:32 PM UTC
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Uncategorized

The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

The sweltering heat that has hammered the East Coast for the better part of the week did not dry up the renewable energy deal flow, as some developers managed to clinch crucial funding. And as is often the case these days — especially in the cleantech and renewable energy sectors — Washington was the de facto deal maker. Hence, as we headed into the Fourth of July weekend, some $2 billion in Department of Energy loan guarantees supporting solar developers.

Of the $2 billion announced by the President, Spanish company Abengoa Solar got $1.45 billion for the construction of the 250 megawatt Solana Concentrating Solar Power (CSP) plant in Arizona. Colorado-based start-up Abound Solar also scored a $400 million guarantee to scale production of its thin-film, photovoltaic modules from a current 67 megawatts to nearly 1 gigawatt over the next three years. Read More »

9 June '10
10:41 AM UTC
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  Solar

Masdar, Total And Abengoa Partner to Build World’s Largest Concentrated Solar Power Plant

Rendering of Shams 1 Concentrated Solar Power Plant in Abu Dhabi

Masdar, Abu Dhabi’s renewable energy investment fund, Paris-based oil and gas major Total and Abengoa Solar of Spain have formed a consortium to own, build and operate the 100-megawatt Shams 1 facility, set to be  the world’s largest concentrated solar power plant.

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2 November '09
1:51 PM UTC
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  Solar

€400B Desertech Industrial Initiative Takes Shape

 

DESERTEC-Map_small

A dazzling $400 billion project to send solar power to Europe from the Sahara is taking shape now that German reinsurance Munich Re giant has assembled a consortium of companies to begin the work.

The Desertech Industrial Initiative (DII, ) aims to provide 15 percent of Europe’s electricity by 2050, Munich RE’s press release. The plan would use concentrated solar power, focusing the sun to heat liquid, which then drives turbines to generate electricity.

The Guardian that the project could bring power to Europe by 2015 by using high voltage direct current cables to move the power from North Africa to Europe.

The company’s shareholders include ABB, Abengoa Solar, Cevital, Desertec Foundation, Deutsche Bank, E.O, HSH Nordbank, MAN Solar Millennium, M+W Zander, RWE, Schott Solar and Siemens. Read More »

27 April '09
3:21 PM UTC
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  Solar

Spanish Abengoa begins operating world’s biggest solar power tower

, a Spanish clean energy developer, has begun operating a 20-megawatt solar tower in Seville, in southern Spain.

The Abengoa plant, dubbed , is the world’s larges tower facility. It is 541 feet tall (165 meters) and uses 1,255 mirrors to tap sun rays that in turn boil water, create steam that power electricity turbines. In southern Spain the company already operates a 10 megawatts solar power tower and a 20 megawatts plant, both are located at the Solucar complex, which once fully operational by 2013 will produce 300 megawatts of solar power.

The PS20 facility uses the concentrated solar power (CSP) technology, a process that traps large chunk of solar energy into small areas of receptor cells, which is a more efficient technology than traditional photovoltaic cells.

Spain has a solar capacity of 3,000 megawatts, trailing behind the world’s largest solar producer, Germany which has 4,000 megawatts in installed capacity. Spain’s emergence as a “green power” is based on generous government subsidies, a model the Obama administration would like to emulate.

Because of the slowdown Spain’s government recently capped new plants eligible for support at 500 megawatts.

But  this has not stoped Spanish developers from snatching assets, including, most recently, Madrid-based, which in March acquired San Francisco-based MMA Renewable Ventures for $19.7 million. The acquisition includes 35 megawatts of solar projects that are currently in operation.

Last week Bilbao-based announced plans to a $1 billion, 200-megawatt solar power plant in Arizona.  Abengoa is also developing a solar power plant in Arizona which has an expected capacity of 250 megawatts.