December 2009: Table of contents

3 Editor’s note

3

Features

4 Oil price remains the burning issue for clean energy investors

Oil price remains the burning issue for clean
energy investors

With the cost of renewable energy still linked to the cost of oil, falling prices in the wake of a recession are hitting the sector hard. Long term, however, the outlook is positive for investors.

9  Smart money on China to pioneer growth of energy grids

Smart money on China to pioneer growth of
energy grids

China’s urgent need for an updated energy infrastructure could provide a boost for technology companies and help speed the global development of smart grid solutions.

12 Renewables offer solution to South African energy crisis

Renewables offer solution to South African
energy crisis

Faced with a growing population South Africa’s energy infrastructure is in dire need of an overhaul. This could signal opportunities for the country’s nascent alternative energy sector, with private investment a key driver.

14

Investor Profiles

14 Andrew Friendly, Advanced Technology Ventures. Macro energy trends drive US venture capital investors

Andrew Friendly, Advanced Technology Ventures

Macro energy trends drive US venture capital investors

Global energy drivers and a revitalised US energy programme translate to an attractive environment for venture capital.

16 David McMeekin, London Technology Fund. Capital the key for UK clean technology investors

David McMeekin, London Technology Fund

Capital the key for UK clean technology investors

London offers a more diverse range of technology investments than any other European city, according to this investor.

18 Lydia Whyatt, FourWinds Capital Management. Search for better returns leads investors to natural resources

Lydia Whyatt, FourWinds Capital Management

Search for better returns leads investors to
natural resources

The rise of renewable energy has led to increased competition, driving investors to seek opportunities in less obvious areas.

20 David Russell, Universities Superannuation Scheme. Clean energy on investment agenda for pension funds

David Russell, Universities Superannuation Scheme

Clean energy on investment agenda for
pension funds

With €250m already committed to renewable energy and clean technologies, pension fund USS aims to increase its allocation.

22 Ole Beier Soerensen, ATP. Investors recognise need for climate risk analysis

Ole Beier Soerensen, ATP

Investors recognise need for climate risk analysis

Institutional investors need to address climate risk in their decision-making process for all their investments

24 David G Creighton Cordiant Capital. Emerging markets offer perfect fit for environmental investors

David G Creighton Cordiant Capital

Emerging markets offer perfect fit for environmental investors

The growth of clean energy offers a compelling match for investors looking at investments in emerging markets.

26

Renewable Energy News

26

Solar news »

Oil price remains the burning issue for clean energy investors
Smart money on China to pioneer growth of energy grids
Renewable offer solution to South African energy crisis
Macro energy trends drive US venture capital investors
Capital the key for UK clean technology investors
Search for better returns leads investors to natural resources
Clean energy on investment agenda for pension funds
Investors recognise need for climate risk analysis
Emerging markets offer perfect fit for environmental investors
AT&M and Odersun join for China venture
PSE&G programme extended by $143m
enXco and Suntech join for PV agreement
Power-One and Magnatek deal terminated
Solar Millenium sells Ibersol parabolic trough power plant
ET Solar obtains $59m credit facility
First Solar sells California project to NRG
Praxair China to supply gas to Magi Solar Energy
Q-Cells terminates supply agreement with LDK Solar
Ampulse closes $8m Series A funding round
Seminole awarded funds for solar project
Energy Innovations wins Masdar contract
SolarQuest receives €1.2m cash boost
Quercus APSO closes deal on Applied Solar
Solyndra signs $105m rooftop solar supply deal with Sun System
Yissum Research signs up for power plant research projects
BOC wins gas deal for Indian manufacturers
Acro Energy Technologies acquires Energy Efficiency Solar
Etrion closes financing for 4MW Italian project
STR Holdings raises $123m in IPO
Atsera and Prosolia agree on solar deal
Cleantech Invest ups stake in SiC
Enfinity and Titan join to deploy solar energy in India
EIB provides €80m for Gemasolar plant
Trony Solar applies for NYSE listing, raising $200m
First Solar enters into solar plant deal with Chinese government
Platina Partners secures funding for renewable futues
Sunovia and Solar Electric partner for LED fixtures project
ICP Solar and Universal Power deal agreed
Premier Power breaks ground on Italy project
Solarion solar cell system passes tests
Algerian energy company to construct plant
Sanyo targets 600MW of global solar cell production by 2011
BP Solar and Petra Solar to market solar systems
Increase in demand for larger photovoltaic inverters predicted
Industry veteran predicts roll-up of US solar market
Evolution Solar looks to expand into Bermuda market
Sanyo opens solar facility in Mexico
aleo solar enters Israeli photovoltaic market
US solar production site for Mage solar
Solar energy announces 100MW California project, and new COO
Suntech to build its first US manufacturing plant
Construction begins on 1.3 MW Solea German solar system
Evergreen Solar unveils new HQ
Satcon selected for 5MW installation
Citigroup and Deutsche Bank team on solar project
Solargiga Energy awarded tender for 13.5MW Golden Sun project
Pirelli Ambiente ups stake in Solar Utility to 100 per cent
Ferro issues 29.5m shares to public
Solar Energy Initiatives secures municipal agreement
38

Wind news »

Plutonic Power and GE Energy acquire Dokie Wind Project
GreenHunter sells China wind stake to DT Capital
Juhl Wind signs 20-year wind farms deals
Wind Works acquires 375MW wind power portfolio
European Investment Bank considers offshore wind
Bilfinger Berger winds construction contract for London Array farm
Nover rejects Infinis takeover attempt
Aeronautica and Goss partner for US wind turbine manufacturing
NRG Energy and Bluewater Wind to develop US offshore wind projects
Parcom Deutsche sells SSB Wind
Wind Works Power acquires Hungarian wind project Ecsed
Deutsche Bank advises Cannon Power Group's Windy Point project
Platina Partners secures €43.5m for UK facilities
EDF EN Canada signs framework agreement for 954 MW of turbines
E.ON signs US wind turbine deal with GE
Iberdola Renovables signs 20-year Oregon wind farm agreement
Banks offer financing support for UK offshore wind farms
Wind Capital Group to develop Missouri's largest wind project
US-REG and Cielo partner for wind farm
CIC invests $571m in AES Corporation
EQT to invest in Skykon
Plutonic Power raises $70m for renewabl energy projects
Suzlon subsidiary takes 35 per cent stake in hansen
Billiken Angel invests$300,000 into affininty
E.ON submits planning application to build 83-turbine Salt End substation
First Wind completes first phase of Milford corridor
US National Wind Technology Centre commissions GE 1.5MW wind turbine
Wind turbine facility gives power to Maine
New 30MW project for Western Wind
enXco beingswork on Linden Wind project
Energy Composites Corporation commits to wind blade project
AltaGas Bear Mountain wind park powers up
OwnEnergy and NFU team on 20MW community wind project
RES Canada and Enbridge to develop 99MW project
RES gets a green light to build UK wind farm
106MW Hoosier project begins operation
First Wind to expand Stetson Wind project by 25.5MW
American Superconductor receives $10m order from Chinese research institute
Repower completes alpha ventus test field
48

Bioenergy news »

PetroAlgae agrees to biofuel partnership with Indian Oil
Shaw wins contract to extend Turkish ethylene plant
Diversified Energy receives $5.2m award
Myriant and Uhde join to procure biofuels
Great Plains Oil leases oilseed plant from Carbonics Capital
Global Environment Fund makes $46.3m investment in Greenko
International Power acquires stake in BioGen Power
Boost for Boulder bioscience programme
Opcon increases energy efficiency at Vattenfall's biomass-powered plant
Algenol Biofuels and Linde to develop algae-based biofuels
Diversified Energy initiates next generation gasification technology
WoodPellets seeks grant
Alfa Laval wins €10m order for Vietnamese biofuel
StatoilHydro invests $3m into research on algae biofuels
New Earth Solutions closes deal on UK facility
Oxford Catalysts receives $2.7m grant
Indian biofuel company expands into Brazilian market
Ambienta invests in European biomas producer Alpin Pellet
Heineken brews up biomass power with two UK plants
KLM powers passenger with biofuel
renewaFUEL to construct biomass facility in Michigan
DP CleanTech accredited by Chinese Government
World's largest liquefied gas landfill plant launched in US
UK grants consent for 80MW biomass plant in Peterborough
NWND to collaborate with DC BioDiesel
Electrabel to convert Rodenhuize plant
Xcel Energy to upgrade Bay Front power plant to biomass facility
Great Wall Alternative and Cyclone Power to develop biofuel engines for China
Enhanced BioPure fuel for Townsend
Russell Industries to develop algae biomass plant in Texas
56

Energy efficiency news »

ECOtality and investors enter deal to raise $15.5m of equity
NanoMaterials Centre launches new energy development project
RecycleBank raises $28.25m in capital
Affinity Equity secures largest China buy-out
Camstar Systems acquires Technology Resources Group
Powervation secures new funding from Braemar Energy Ventures
Arborview Capital invests in Lighting Retrofit International
CEZ acquires 85 per cent stake in Czech Dalkia subsidiary
Climate change threatens corporate balance sheets
Wasteman Holdings gains Spill Response Team
BC Hydro proceeds with Clean Power Call
GSMA and International Finance focus on renewable energy base station market
Evergreen Energy divests mining assets
UK carbon and capture plant secures €180m
Reverse stock split approved for ECOtality
Applied Materials launches tender offer for Semitool's shares
C.En completes round of equity funding
NRG Energy Carlsbad project receives CEC recommendation
Minnesota Power asks for retail rates increase
Ceres Power and Bord Gais Eireann to develop heat and power products
Consortium set up to assist Canadian cleantech start-ups
GE Energy and Silver Spring to work on OG&E's programme
Red Hat and Int3s to support Toronto meter programme
Spanish renewable power use increases
Portland General Electric power propsal includes green energy sources
Electric power launches plansto improve US transmissions system
Beacon Power begins construction on US flywheel enregy storage plant
Wells Fargo launches cleantech commercial banking group
Clean Energy to design and build compressed natural gas fuel station
Reliant Energy launches hybrid car project
Cleantech Invest to list portfolio company Pure Klimaschutz on Berne Stock Exchange
Sanyo Electric targets energy efficiency
Export-Import Bank adopts carbon policy
UK needs step up on low carbon, says EEF

66

Water news »

Ocean Power awarded €41.1m grant for wave power project
Marine Current SeaGen turbine at full power
World Bank loans $60m for Ukrainian hydroelectric power plant refurbishment
NS Power and OpenHydro deploy Canadian Turbine
South West development agency funds £1.2m wave tank test site
BioPower Systems and Elecnor team on bioWAVE technology
68

Geothermal news »

Ormat to repurchase geothermal interests from lehman subsidiary
Magma receives $10m DOE geothermal grant
Global Infrastructure invests in Terra-Gen
Raser defers funding agreement deadline
GE grants $50m loan to 220MW power producer
Nevada Geothermal awarded $57.9m for Blue Mountain plant
The Paralana Geothermal Project awarded AUD$62.8m in funding
Terra-Gen closes $240m refinancing
70

Fund news »

Guinness launches new offer on its Alternative Energy Fund
Private equity firm forms to target renewable energy
FUEL Capital to invest in Chinese ventures
Olympus Capital closes $250m Asia fund
US-based Meidlinger Partners launches new cleantech fund
Acuity to raise £woom recycling fund
Impax receives extra £15m investment mandate from Environment Agency fund
US launch for Tiger Infrastructure Partners
Foresight Group launches new scheme fund and venture trust
72

Policy news »

Northwest US receives $30m grant
US DOE to award up to $5.5m for efficiency vehicles
US DOE awards 41 energy efficiency projects more than $155m funding
US EERE funding reaches $2.24bn
UK law simulation shows penalty risks to companies
G20 leaders urged to end subsidies for fossil fuels
Ofgem proposes £1bn in funding for electric grid projects
EC envisages 80 per cent target
South Korea pledges 30 per cent cuts
UN and UK doubts over climate deals
US to award $40m to Florida and Maine for green projects
NRG CEO calls for rollout of electric vehicles
US and China come to an agreement on climate change
NHA welcomes $531m investments
DOE names $3.4bn grant winners
Irish Government frees €26m for green start-ups
Geothermal projects gain $338m

76

Listed company results »

Evergreen Solar revenues triple
Q-Cells reorganisation stabilises income in Q3
Carmanah's revenues dip in Q3
Total targes solar PV and battery storage
Great Plain's earnings fall
Pinnacle West posts improved Q3 results
EDF 2009 revenues grow 12.7 per cent
Repower's sales volumes blow upwind, financial results show
Fuel Tech fails to clean up in the third quarter
New Earth recycling fund reports 15 per cent return in 15 months
TechPrecision posts rising sales, falling profits
Profitable third quarter for Sancon
Kyocera reports 81 per cent profit slump
Applied Materials sees return to profit in 2009
Entech Solar revenues down
Magma breaks ground for growth
Beacon Power sees sharp revenue rise
LSB Industries suffers quaterly decline
Acciona grows profits by 255 per cent
Trina Solar's profits rise, PV sales prices remain weak
Mixed results for Phoenix Solar
Sharp's results show solar cells resisting losses
Dyadic cuts down on losses in Q3
Profitable third quarter for Sancon
Gamesa see profits fall
Penford sales more than double
Energy services company South Jersey Industries increases dividend

84

People news »

eSolar appoints industry veteran to its board
SunEdison names new sales VP
Suntech adds to European team
Foresight Group addition
Waste2Tricity appoints Hall as MD
Triton Water appoints Frank Koll as new CEO
Murali Arikara to head expansion drive at Intelligent Energy
Simonson joins Silver Spring board
Cooley Godward Kronish hires Bo Yaghmaie
Spencer Abraham joins Utilipoint International as strategic advisor
STR Holdings appoints to board of directors
Jonathan Silver appointed director of DOE programme
Intelligent Energy appoints new US vice president
Reliant Energy names Tom Gros as vice president of sales
Evergreen Energy names Miles Mahoney president
I2Bf appoints investment director
Future Capital Partners hires business development specialist Derrington
Oystein Loseth chosen as next Vattenfall CEO
Solar Power hires Francis Chen to its board of directors
New appointments at General Electric
Braemer Energy Ventures promotes Dr Jiong Ma

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