Japanese industrial group Itochu has joined GE Energy Financial Services as an equity investor in the $319 million, 152-megawatt Keenan II wind farm in Oklahoma. Read More »
After nearly two years at the Department of Energy, Matt Rogers, the agency’s most influential bureaucrat, is leaving, having overseen one of the DOE’s most ambitious undertakings: the disbursement of billions of dollars to support the deployment of renewable energy infrastructure across the country.
When Energy Secretary Steven Chu hired Rogers 19 months ago, he tasked the McKinsey & Co., consultant with creating the processes that will ensure the DOE spends its billions in stimulus funds smartly. Like any good, benchmark-driven consultant, Rogers executed. Read More »
A Canadian solar power company has hired the founder of a leading California solar thermal developer as its new Chief Executive Officer.
SolFocus, a Mountain View, Calif.,-based developer of concentrated solar power for utility-scale power plants, has expanded its Series C financing round to $77.6 million.
Back in January, at the depth of the financial crisis, the company announced a $47 million first close. In February reported that the round had expanded to around $67 million.
“Closing a round of investment with more than $77 million is no small feat in this challenging fund-raising environment, and a good indication of market expectations for SolFocus,” said company ceo Mark Crowley in a prepared statement.
Demeter Partners and affiliates of Advanced Equities came in as new investors. Current investors, also participating in this third round of financing include: Apex Venture Partners, New Enterprise Associates, NGEN Partners and Yellowstone Ventures. In its two previous rounds of financing SolFocus raised nearly $100 million.
, an -owned company that makes technology that increase the electricity output of solar pannels, has named Joseph Budano as its chief executive officer.
The Pasadena, Calif., company makes the CPV solution. The devise increase the efficiency of solar panels by growing the amount of electricity produced by each of the panel’s cells. As ceo Budano will implement strategies to grow production and expand the commercialization of the company’s products.
“Joe has a strong track record of harnessing innovation to quickly commercialize new products and has a tremendous amount of experience leading companies through periods of rapid growth,” said Idealab’s Chairman Bill Gross, in a written statement.
Budano was most recently president of , a San Diego-based manufacturer of solar technologies. Before that he was ceo of Elgar Electronics, a private equity backed supplier of power electronic equipment Xantrex acquired in 2007. He’s also held executive positions with communications companies, including equipment manufactuers Wavetek and Motorola and was a consultant for The Boston Consulting Group.