Siemens, the German industrial conglomerate, said earlier this week that it was increasing its equity stake in Archimede Solar to 45 percent from 28 percent. Archimede is a joint venture with Angelantoni Industries that develops receivers for Italian CSP solar power plants. Financial terms of the transactions were not disclosed.
The Obama administration is leaving no stone unturned in its quest to build the country into a greentech power. Today Energy Secretary Steven Chu announced (Happy Earth Day!) a five year, $200 million financing to support “manufacturing-focused research projects that will have near and mid-term impact on the U.S. solar industry.”
After supporting manufacturers of thin-film photovoltaics or CSP parabolic through as well as power project developers that buy them, the DOE is now looking to finance cleantech’s less glamorous, but nonetheless crucial, back office by funding developers of the manufacturing processes that actually help make these PV panels — see full press release.
SolarReserve, the Santa Monica, Calif., utility-scale solar thermal power developer, says it expects its $550 million, 100-megawatts Tonopah Solar Energy project to be fully permitted by the end of the year. The project is being developed on federal land in Nevada.
CEO Kevin Smith says it’s talking to project finance banks, which he declined to name. As G.E.R. reported SolarReserve is considering a combination of long-term bank debt and third-party equity. SolarReserve is also considering tapping the Department of Energy 1603 direct cash grants.
Alcoa is testing a unique concentrating solar power (CSP) parabolic trough technology at the National Renewable Energy Laboratory in Golden, Colo. The technology could be the company’s entry point into the solar power business.
The news is important for a couple of reasons. Alcoa’s technology uses aluminum instead of glass mirrors to capture solar heat. While it may not be the first company to try this, Alcoa is certainly the largest. It’s also a vote of confidence by one of the country’s largest companies on the long-term viability of CSP technology .
For Alcoa, one of the world’s major aluminum producers, developing aluminum-based mirrors makes good business sense. They have the resources and knowledge to develop new applications for the the most abundant metal in the earth’s crust. Read More »
Areva, one of the world’s largest maker of nuclear reactors, has acquired Mountain View, Calif., -based solar-thermal equipment maker Ausra, which had been on the auction block, talking to potential buyers at least sine November.
Paris-based Areva and Ausra did not disclose financial or other terms of the deal. Read More »
