April 2010: Table of contents

3

Editor’s note

3

Features

4 Global renewables industry seeks sustainable growth

Global renewables industry seeks sustainable growth

As the UK forges ahead with feed-in tariffs, its European neighbours are shutting down their own support schemes following fears of unsustainable market growth.

8 Brazil bioenergy fuelled for international expansion

Brazil bioenergy fuelled for international expansion

With a thriving biofuel industry supported by strong regulation, Brazil is ready to go global as momentum grows from overseas investors and energy companies.

11 Waste not want not for investors in renewable energy projects

Waste not want not for investors in renewable energy projects

With waste to energy offering both a solution to landfill and a potential source of energy, investor
interest in the sector is set to grow.

14

Specialist funds prove popular for maturing clean
technology secto
r

For investors seeking opportunities in clean energy, the nascency of the sector means that expertise is crucial to ensure stable growth.

15

Green investment faces growing challenge to break
into mainstream

While the case of green investing is increasingly compelling, investors are still wary of committing to unfamiliar asset classes, according to private equity veteran Ray Maxwell.

16

Industry Profiles

16 Brooks Herring, Solar Frontier. Japanese solar energy eyes growth and
global markets

Brooks Herring, Solar Frontier

Japanese solar energy eyes growth and
global markets

The Japanese solar energy arm of oil giant Shell is rebranding as it aims to build on its domestic technological edge.

18 Christian Kjaer, European Wind Energy Association. European wind energy targets next level of growth for 2010

Christian Kjaer, European Wind Energy Association

European wind energy targets next level of growth for 2010

The risk-return profile of wind energy investments is growing in attractiveness for investors.

20

Investor Profiles

20

Wayne Keast, Consensus Environment. Emerging investment opportunities match scale of energy challenge

Wayne Keast, Consensus Environment

Emerging investment opportunities match scale of energy challenge

An investment focus that encompasses Southern Africa and the Middle East aims to benefit from the region’s huge potential for new energy technologies.

22 Jeff Bocan, Beringea. Investors tip opportunities in US
manufacturing sector

Jeff Bocan, Beringea

Investors tip opportunities in US
manufacturing sector

The decline in the US industrial sector could be addressed by new manufacturing opportunities in renewable energy and clean technology.

24 Ulrich Grabenwarter, European Investment Fund. Private equity fund investors seek certainty in 
clean energy

Ulrich Grabenwarter, European Investment Fund

Private equity fund investors seek certainty in
clean energy

Funds that can identify genuine environmental opportunities could define the clean energy investment space.

26 Glen Schwaber, Israel Cleantech Ventures. Israel’s technology hub needs capital to thrive

Glen Schwaber, Israel Cleantech Ventures

Israel’s technology hub needs capital to thrive

With Israel turning its attention to the incubation of clean technologies, the country’s emerging venture capital scene is looking to take advantage.

28

Renewable Energy News

See the full list of news or click on the section titles below to view news covered in each category.
28

Solar news »

Solar World invests $500m in Qatar manufacturing base
Solar City creates $90m fund with US Bancorp to finance solar projects
Solutia to buy Etimex Solar
Evolution Solar signs wafer supply contract
Kormarka raises $20m in strategic partnership with Konica Minolta
Glaston closes $6.6m investment
AEG Power Solutions acquires majority stake in skytron
Edison to buy 200MW of SunPower solar equipment
Manufacturer Solan closes 200MW solar module supply agreement with entrason
Prime Sun Power to sell Italian solar PV plant for €100m
GT Solar secures over $200m in orders
First Solar signs contract with PG&E for 300MW PV solar project
Yingli to supply 285MW of solar modules to Gerlicher Solar
China Sunergy to buy two solar module manufacturers for $47m
Utility-scale solar developer Agile Energy closes financing
Iosil Energy secures $13.5m for oversubscribed funding round
$41.4m for PV company SpectraWatt
Azure Power closes Series B investment
Solar Junction raises $13.3m in Series C funding
Showa Shell Solar undergoes rebrand as it aims for 1GW international solar sales
German company Concentrix Solar teams with Chevron for plant
Credit Agricole’s public services driven by solar
German renewable energy company juwi eyes Americas
Scheuten Solar expands German production
Mitsubushi plans expansions of PV solar business
Scheuten Solar expands German production
Applied Materials expands solar manufacturing capability in Taiwan
SunEdison to build Europe’s largest solar plant
Bergamo announces $500m Lebanese solar power projects
Solar market posts mixed results for 2009
Chinese solar market may soak up European excess capacity
Oneworld Energy to build Solar Manufacturing Hub
GE plans to focus R&D on thin-film PV technology
Chevron evaluates next generation technologies
Global solar capacity reaches 15,000MW led by Chinese growth
Suniva commissions India’s largest solar power installation
Suntech to supply Taiwan's largest solar plant
38

Wind news »

Mitsubishi commits £100m to UK offshore project
Terra-Gen closes $394m deal for Alta Wind project
Suzlon receives 52.5MW wind turbine order from GSP
Acciona wins €450m deal for Mexico wind facility
NRG Energy to acquire 101MW South Trent wind farm in Texas
First Wind receives $11.7m loan from US for wind project
Low Carbon Accelerator looks to cash in on UK incentives with Vigor
Iberdrola acquires rights to build 400MW offshore German wind farm
EU money supports wind connection
Developers will work hard for financing in 2010, RES says
Wind investor UpWind Solutions raises $28.8m in second funding round
Endesa, Enel reach deal to combine renewable assets
Elia to buy Vattenfall’s German grid for €810m, targets offshore wind
Australian policy change puts wind projects back in picture
NS Power seeks approval for $27.8m investment in RESL
Schuff Steel to focus on wind tower construction
Development completed of 51MW Texan wind farm
Iberdrola creates offshore wind division in Glasgow
Chinese wind turbine plant in US to be built by Energy Generation Systems
Turbine manufacturer Gamesa considers UK factory
Sweden’s 02 Vind withdraws plans for €118m IPO
Turbine producer Skykon leases Danish industrial park
Turbine manufacturer AAER lays off 28 staff to preserve cash
China to prioritise offshore wind as pilot project gears up to launch
Deere considers strategic options for wind farm business
46

Bioenergy news »

Green Plains proposes public offering
Bridges Ventures leads green venture in Aero Thermal Group
Aurora Biofuels secures additional $15m in funding
Waste management firm Biffa to landfill gas business for £350m
Approval given for $20m GreenHunter Energy bond
Drax’s switch to co-firing will ‘hurt UK renewables’
ClearFuels to develop biorefinery facility for renewable synthetic fuel
Pulp industry increases biomass usage, report says
ESE rebranded as Renaissance BioEnergy
BlueFire seeks loan guarantee for Mississippi biorefinery
Urgent review of biofuel policies: IEF
Policy needs to change to support sustainable growth of biofuels
Ekiti to construct cassava biofuel plant
Industry in jeopardy without incentives, says US supplier
Imperium Renewables resumes production following explosion
Virent and Shell start biogasoline production plant
52

Energy efficiency news »

Navigation Capital Partners buys Specialized Technical Services
Carbon Trusts joins investor line-up with £3m commitment to Oxsensis
GIM makes $10m investment into GreenRoad
Prudent Energy raises $22m led by Chinese investment
ITM Power signs deal with Ballast for pilot energy storage
Powerit Solutions completes Diana Solutions merger
General Compression secures $17m to bring products to market
Waste management company Shanks rejects Carlyle’s bid
TGI to obtain Ekoplaz energy technology
EBRD provides €90m financing for Slovakia energy facility
Eltek Valere signs $12m hybrid power agreement
Charger developer ECOtality gains access to $300 financing facility
GreenAngel Energy companies raise $6m
LDC injects £10m into Matrix system
Listed manufacturing group SPX acquires technology company Gerstenberg Schroder
CalStar funding round closes at $15m
Titan Energy Worldwide secures $1m in power generation orders from the US
WI Harper Group invests in Testar
Siemens wins €30m energy contract to improve transmission in Middle East
LED manufacturer TerraLUX closes $5.6m investment round
ETI to invest £25m in carbon storage demo project
Smart grid technology to be leading wealth driver
AEG launches new technology for power supply
Waste electronics recycler environCom opens UK’s largest processing facility
Half of US businesses say lack of climate change legislation is harming economy
Areva and Siemens head alliance for renewable European grid
NES targets renewable energy markets
Disenco up for sale following appointments
CarbonRisk not fully incorporated into funding decisions, says S&P
US DOE selects NRG for Texas carbon capture demonstration project
Japan car giants team up to promote global electric vehicle adoption
British private equity industry welcomes role in accelerating low carbon economy
Majority of European investors see listed markets as feasible exit for clean energy
Clean technology investors favour mature companies
62

Water news »

BioPower Systems gains access to Australian wave energy site
Ocean Power receives €2.2m grant for project
SSE Renewables and Aquamarine Power granted Orkney wind farm rights by Crown
€20m invested in Waterleau by Aqua Resources Fund
European hydropower market to be driven by refurbishment projects
UK water utilities offer upside for investors: SAM
UK to map offshore potential of coast
64

Geothermal news »

Crump Geyser and Pumpernickel projects ready for development
Sierra Geothermal drill deep at Alum
Ormat completes acquisition of interest in Tuscarora project
ThermaSource signs drilling contact with Polaris Energy Nicaragua
US Geothermal reports $8.6m private placement financing
G4G Resources’ Despoblados prospect takes next steps
Tata Power and Chevron bid for Indonesian project
Urex acquires Nevada geothermal leases
66

Fund news »

Battery Ventures closes ninth venture fund on $750m target
US Renewables Group forms wind development arm
Spring Capital Asia raises $184m
Asian Development Bank in initial stages of evaluating clean energy venture fund
Infinity-I China establishes six funds for growth technology investments
China Everbright launches $439m fund to invest in clean energy projects
Emerald Technology Ventures to launch third fund: reports
68

Listed company news »

Centrica reports revenue growth as wind projects pushed ahead
Fluor’s renewable profits lag behind oil and gas sector
Northland Power‘s additional renewable energy plant sales bump profits up
Renewables targeted by Dong as profits drop steeply
Ludgate fund predicts IPO opportunities
EDP Renováveis shows steep curve in 2009 profits
Iberdrola to increase US portfolio as 2009's profits reach €371m
Applied Materials raises dividend and launches share buy-back programme
Solar Capital shares hold strong after 2009 results
Canadian Solar gives optimistic 2010 outlook
China WindPower reports profit jump, sets out expansion plans
Gamesa predicts tough 2010 as revenue drops to 16 per cent
E.ON investment continues despite drop in 2009 sales
Mass Megawatts reports net losses in third quarter
Growth of Modern Water’s revenues with China focus
Phoenix Solar shares jumps as Q4 revenues reaches record high
Climate Exchange to review dwindling CCX as profits double
Enel to merge power assets in Spain
Solar wafer company PV Crystalox cuts dividend as profits slide
Nordex shares rise in face of adverse sales
Acciona to invest €3.8bn in R&D
Yingli Green Energy posts 4Q loss of $6.6m
REH moves to full-year profit on sale of CETO Wave Technology
Ormat’s reports record revenues for 2009 in contrast to global economy
BTU forecasts $16m Q1 sales
Silver Spring Networks tipped for $3bn IPO
Clipper Windpower CEO resigns as company posts 2009 second-half loss
Solar module manufacturer Suntech reports revenue, profit increase in 2009
Tainergy Tech to list on Taiwan Stock Exchange
GT Solar shares fall as it prices secondary offering
Biofuel developer Evogene’s revenues triple in fiscal 2009
Ocean Power Technologies reduces losses on back of last year’s increased profit
Altagas predicts earnings increase after 2009 dip
Neste Oil increases profits despite drop in revenue, annual fiscal report shows
Abengoa’s enjoys favourable 2009
SolarWorld posts 2009 revenue of more than €1bn

78

People news »


Avantium appoints former Shell CTO to supervisory board
United Nations selects advisory group to mobilise climate change funds
Entech announces management change
Clipperton Finance appoints Callow
Bandukwala joins Stifel’s cleantech banking group
Tolhurst elected to SwissINSO board
Foresight names solar investment director
Princeton Power appoints Morgan to board of directors
RenewableUK appoints Senergy’s Nicholson as head of grid
Enecsys appoints Kohlstruck to head European operations
NEA hires Ron Bernal as venture partner
XcelPlus Global appoints CFO
Recurrent names head of engineering
Kirsch joins Cliffs Natural resources as director
Soliant Energy adds Jamison to exec team
CEO Milner resigns after Q-Cells suffers €1.4bn loss
Duoyuan appoints Nickols as director
Future Capital Partners appoints business development manager
Harrison joins Plane Tree Capital
Impax expands marketing team
Wilhelm elected as president of EPIA
Siemens Wind Power CEO leaves to head REpower
Solar Millennium CEO resigns after three months

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