QUICK NEWS, 4-26: FINANCIAL REFORM INCLUDES EMISSIONS TRADING; NEW FLORIDA JOBS IN WIND; LOUISIANA UTILITY LOOKS AT SUN; BETTER PLACE GOES TO CHINA

FINANCIAL REFORM INCLUDES EMISSIONS TRADING
Derivatives bill calls for US carbon market study; Agency heads would send report to Congress
Timothy Gardner and Roberta Rampton (w/Marguerita Choy), April 22, 2010 (Reuters)

"A tough new proposal to regulate U.S. markets calls for top regulators and government officials to conduct a study on transparency in emerging U.S. carbon markets as part of the financial reform package.

"The heads of the Treasury Department, the Commodity Futures Trading Commission and other U.S. agencies would be required to study oversight of existing and prospective carbon markets, according to the proposal, part of a bill passed by the Senate Agriculture Committee…"

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"The goal of the study is ‘to ensure an efficient, secure, and transparent carbon market, including oversight of spot markets and derivative markets,’ the bill said…It will be merged with the Senate Banking Committee's financial reform package, expected to be debated [this] week, which will likely include a crackdown on the unregulated $450 trillion derivatives market.

"Emerging carbon markets are either voluntary or regional because the U.S. government does not limit emissions of gases blamed for warming the planet, considered a requirement before the launch of a national market…Ten states in the U.S. Northeast operate a carbon market on power plants. In addition, the Chicago Climate Exchange also runs voluntary carbon markets…[C]ritics of carbon markets say that not all of the credits that are traded in them represent true emissions reductions…"

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"Other agency officials required to participate in the study would be the heads of the Agriculture Department, the Securities and Exchange Commission, the Environmental Protection Agency, the Federal Energy Regulatory Commission, the Federal Trade Commission, and the Energy Information Administration, the independent statistics arm of the Department of Energy.

"The interagency group would be required to submit a report to Congress on their study within six months…"


NEW FLORIDA JOBS IN WIND
Wind energy plant to bring 215 jobs; Gainesville factory to build gearboxes for turbine systems
David Markiewicz, April 24, 2010 (Atlanta Journal-Constitution)

"A German company plans to build a wind energy plant and bring 215 new jobs to Gainesville.

"ZF Group, an automotive industry supplier…will make wind turbine gearboxes for systems that convert wind energy into electricity. The company will invest $90 million in the project."

Add one for Florida (click to enlarge)

"It was the third job-creation announcement in three days…Arkansas frozen baked goods maker De Wafelbakkers… will take over an abandoned bakery in Henry County and hire 242 workers…General Electric will create 400 new jobs in Cobb County when it opens its futuristic Smart Grid Center of Excellence…That’s 857 jobs in three days.

"…[T]he wind energy plant…will be built in the Gainesville Business Park, near an existing ZF facility that makes axle drives and transmissions for passenger vehicles and heavy construction equipment…"

Tens of thousands of plants like this one will come as wind moves toward its goal of providing 20% of U.S. power by 2030. (click to enlarge)

"Construction is scheduled to begin immediately, with the plant to open in February 2011. Production is set to start January 2012…The company will receive economic incentives for the project including tax credits, as well as free, customized employee training assistance from the Quick Start program…"

[Elizabeth Umberson, executive, ZF:] “There is a heightened global focus on renewable energy production, and we believe there is an opportunity to leverage our automotive driveline and chassis technology leadership in this exciting and growing alternative energy sector…”


LOUISIANA UTILITY LOOKS AT SUN
La. utility experimenting with solar energy
April 25, 2010 (AP via WXVT-CBS)

"A utility that serves about 276,000 customers in 23 Louisiana parishes is experimenting with solar power.

"Cleco Corp. has installed solar panels on the roof of its headquarters in Pineville to collect data on whether it works well in the state, what it would cost and whether the cost would be worth it."

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"…[T]hree kinds of stationary solar panels and one panel that rotates to track the sun were installed…

"Cleco will track the amount of energy produced, how much local weather affects solar power production, which cells work best and how much is added by tracking the sun with the rotating panel…[P]ower from the panels will be put into the grid..."


BETTER PLACE GOES TO CHINA
Better Place in China deal
John Reed, April 25, 2010 (UK Financial Times)

"Better Place, the electric car infrastructure company, has announced its first deal with a carmaker in China, potentially the biggest future market for battery-powered cars…[It] signed a memorandum of understanding…with Chery Automobile, China’s biggest independent carmaker, to develop prototypes for electric vehicles to be used in regional state-sponsored pilot projects.

"The cars will have switchable batteries that can be removed and replaced with recharged ones at swap stations of the type Better Place is building in countries including Israel and Denmark."

From btrplc via YouTube

"Better Place believes that electric vehicles will be accepted on the mass market only if its batteries can be decoupled, making the cars cheaper and easier to drive on long trips...Chery displayed an electric version of its Riich G-5 sedan incorporating a switchable battery at…[the] Beijing auto show.

"The deal makes the Chinese company the second carmaker after France’s Renault to sign up to the US company’s unorthodox business model, which many rival carmakers doubt will be widely adopted…"

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"…[Better place is beginning] a “proof” project showcasing the technology in Japan…[F]our Tokyo taxis [will] travel for 100 days, stopping only three times a day to have their batteries swapped

"In January, Better Place raised $350m in one of the biggest venture capital financings ever for a 'clean tech' company…"