5 February '10
8:43 AM UTC
No Comments
  Funding

Post Stimulus, Funding Still Hard to Get

Financing in the renewable energy sector has improved but conditions remain challenging, despite the billions of government money that are now supporting the industry.  When it comes to funding “we’re not there yet,” starkly assessed Michael Ware, a managing director with Good Energies, one of the world’s largest cleantech-focused private equity fund, at a panel at the (RETECH). Read More »

4 February '10
12:06 PM UTC
No Comments
  Wind

Renewable Electricity Standard: It’s About the Jobs…

A national Renewable Electricity Standard (RES) of 25 percent by 2025 would add 274,000 new green energy jobs, particularly in the Southeast, according to funded by an industry group.

The study, conducted by Navigant Consulting for the RES Alliance for Jobs, found that an RES would prevent the long-term stagnation of the wind industry and the collapse of the U.S. biomass industry. Read More »

2 June '09
11:39 AM UTC
No Comments
  Wind

EarthFirst Canada eyes sale of British Columbia wind projects to GE partnership

GE Energy Financial Services and Plutonic Power, a Canadian hydroelectric producer, have ormed a partnership to acquire the wind generation project of EarthFirst Canada, a distressed Calgary wind developer.

Provided specific conditions are met, Plutonic and GE’s clean energy investment arm would acquire EarthFirst’s 144 megawatt Dokie 1 wind power project and the 156 megawatt Dokie Expansion Project, a development-stage initiative adjacent to the Dokie I Project in Chetwynd in northeast British Columbia.

A final price for the deal has not been disclosed but the transaction would include paying off a C$26 million ($24 million) secured credit facility to EarthFirst’s largest lender, German bank WestLB. The acquirer would also agree to pay for the remainder of the projects’ development costs.

EarthFirst estimated completing the project would cost about C$250 million. GE and Plutonic Power intend to finance a portion of the project with equity and the balance with a project finance bank loan, a GE spokesman tells GER.

The two facilities are backed by power purchase agreements with BC Hydro, but  these are expected to be renegotiated once the assets are sold.

EarthFirst entered bankruptcy protection earlier this year after it was undone by the economic crisis and the credit freeze, which left it unable to secure funding to support the development of its wind projects.
13 April '09
12:34 PM UTC
No Comments
Uncategorized

The week in green energy

  • (Greenlight via GreenTechMedia.com)
  • (The Guardian via the Environmental News Network)
  • (Bloomberg News)
  • (Worldwatch Institute)
  • (Yale Environment 360)
  • (EcoGeek)
31 March '09
8:51 AM UTC
No Comments
  Cleantech

In and around the green

  • (Financial Times)
  • (AFP via Morningstar)
  • (Green Light via GreenTechMedia.com)
  • (Greenwire via The New York Times)
  • (TriplePundit.com)
  • (Grist.org)
  • (Alternative Energy)
  • (Opinion: Yale Environment 360)
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