MORE NEWS, 6-16 (SUNDAY ENERGY, ORMAY DO NEW ISRAEL SUN; IRISH UP WITH ILLINOIS WIND; COAL COMPANY BUYING SUN)

SUNDAY ENERGY, ORMAY DO NEW ISRAEL SUN
Sunday Energy forges new ground in Israel with Ormat
Emma Ritch, June 3, 2009 (Cleantech Group)

"Isrsael- based Sunday Energy…inked a deal to build the largest rooftop solar installation in the Middle East…At just 1 megawatt, the installation isn’t huge by global standards. But in Israel, where total installed capacity at the end of 2008 was 1 MW, it’s the beginning of a new solar market…

"Sunday is installing the solar system on about 15,000 square meters on top of a factory owned by Reno, Nev.-based geothermal developer Ormat Technologies in Yavneh, Israel. The project is expected to be completed in the first half of 2010, generating energy worth NIS 60 million ($15.15 million) during the next 20 years through a power-purchase agreement with Israel Electric Cooperative, the state-owned utility that is the sole supplier of electricity in the country."

The next energy power in the Middle East? (click to enlarge)

"Israel Electric will pay NIS 1.98 (50 cents) per kiloWatt-hour for solar installations up to 50 kW—four times the going price of electricity for consumers. The tariff for installations larger than 50 kW but smaller than 5 MW is still being decided…[O]pportunities in solar market in Israel aren’t widely known, so players are trying to educate pension funds and hedge funds in order to drum up project financing…

"The Israeli tariffs guarantee a return of about 12 percent to 15 percent for 20 to 25 years…The National Infrastructures Ministry said the tariffs are designed to help Israel reach 20 percent of energy supplied by renewable sources by 2020."

Solar producers are gearing up all over the Middle East. This sun is the prize.(click to enlarge)

"In March, Israel's National Infrastructures Minister Binyamin Ben-Eliezer gave the approval to issue a license for the country's first solar thermal plant…[a 100-kilowatt facility] using heliostats and a solar receiver…The country's largest solar installation—just 50-kilowatts—was connected to the grid in December…

"Sunday has installed less than 1 MW to-date, but has 55 MW of signed deals in the pipeline. Sunday expects to install between 4 MW and 6 MW before the end of 2009, and 15 MW next year…The self-funded company [founded in 2007] is seeking...Series A financing and project financing...[Sunday Energy plans to] invest NIS 500 million ($133 million) in the next two years for photovoltaic solar arrays…[T]he company is also looking outside of Israel for underserved markets…The Middle East is considered one of the biggest future markets for renewable energy, but few installations are in place today…"


IRISH UP WITH ILLINOIS WIND
Irish investor blows into Illinois with $1 billion for wind farm projects; Mainstream Renewable buys 3 farms outside Chicago
Becky Yerak, June 15, 2009 (Chicago Tribune)

"Three Illinois wind farms within 100 miles of Chicago were acquired... by an Irish energy company making its first U.S. investment amid hopes that President Obama's economic stimulus package will bolster the renewable energy business.

"Dublin-based Mainstream Renewable Power bought the assets, which are at various stages of development [from local wind farm developers FPC Services for an undisclosed price] and plans to invest $1.69 billion over four years to fully develop them…The farms have the potential to generate 787 megawatts by 2013."

Mainstream Renewables is in the process of becoming an international wind power. (click to enlarge)

"The most advanced is the 120 megawatt Shady Oaks project in Lee County. When fully built in 2010, it'll generate enough green electricity to power about 30,000 homes…Its construction is expected to employ about 120 people, and ongoing employment for about a dozen people when it begins operating.

"The 467 megawatt Green River project, also in Lee County, is expected to begin construction next year…The 200 megawatt Boone County project is in earlier development stages…"

Illinois has fair winds throughout the state. (click to enlarge)

"The Illinois projects are Mainstream's second North American deal in three months, having earlier announced a Canadian wind farm project. It has also announced plans to build a wind farm in Chile.

"Mainstream was founded in 2008 to develop, build and operate wind energy, solar thermal and ocean current plants by partnering with governments, utility companies, developers and investors across North America, South America, Europe and South Africa…Barclays Capital has a 14.6 percent stake in Mainstream."


COAL COMPANY BUYING SUN
AEP to buy power solar power in Ohio
Scott DiSavino (w/David Gregorio), June 15, 2009 (Reuters)

"American Electric Power Co Inc signed a long-term power purchase agreement to buy all of the output of a 10.08-megawatt solar energy facility to be built in Ohio…

"Through the 20-year agreement signed with Wyandot Solar LLC, a subsidiary of Germany's juwi solar Inc…[AEPs] Ohio subsidiary will purchase all output and renewable energy credits from the Wyandot Solar facility to be built in Salem Township in Wyandot County near an AEP substation."

This doesn't mean AEP "gets" New Energy, it means AEP gets that its customers are starting to get New Energy. (click to enlarge)

"Construction of the photovoltaic facility on about 80 acres of land is expected to begin in November, with commercial operation seen by mid-summer 2010…The facility will use PV modules from First Solar Inc manufactured in Perrysburg, Ohio…AEP did not disclose terms of the agreement…Based on an industry estimate of about $6,000 per kilowatt, a solar photovoltaic system would cost about $60 million.

"AEP…[which generates most of its electricity by burning coal and is one of the nation's two biggest emitters of CO2] owns and operates more than 38,000 MW of generating capacity, markets energy commodities, and transmits and distributes electricity to more than 5 million customers in 11 states…"

AEP is very interested in transmission - but for New Energy or for coal? (click to enlarge)

"As the United States prepares to reduce manmade greenhouse gas emissions such as carbon dioxide, AEP is investing in renewable sources of power, energy efficiency and carbon capture and storage technologies, along with new high voltage transmission lines to transport renewable power to consumers…The U.S. electric power sector produced about 2.4 billion metric tons of CO2 (about 2 billion metric tons from coal-fired generation) in 2008, about 41 percent of nation's total CO2 emissions.

"The Wyandot agreement is AEP's first for commercial solar energy in its growing renewable portfolio. AEP's wind energy portfolio currently is 1,783 MW, including 310 MW of wind generation owned and operated by AEP in Texas and 1,473 MW of wind energy acquired through long-term power purchase agreements…On June 1, AEP issued a request for proposals seeking long-term purchases of up to 1,100 MW of additional renewable energy resources as part of its goal to add 2,000 MW of new wind or other renewable energy by the end of 2011."