QUICK NEWS, 6-1: OIL SPILL MAY MAKE DEAD ZONE DEADER; CHINA WIND IN IPO; POWER GIANT BUILDS TEX WIND PLANT; A CHINESE-GERMAN EV

OIL SPILL MAY MAKE DEAD ZONE DEADER
Undersea Oil Adrift in Gulf May Create Oxygen ‘Dead Zones’
Jessica Resnick-Ault, May 31, 2010 (Bloomberg BusinessWeek)

"The millions of gallons of oil leaking from a broken well a mile under the Gulf of Mexico may create oxygen-depleting dead zones below the ocean, killing sea life and upsetting the region’s ecology for decades, scientists say.

"BP Plc’s oil spill, the biggest in U.S. history, has been sprayed with 950,000 gallons of chemicals on the surface and near the seabed to dissolve the oil into water. The amount of dispersants used is unprecedented and the behavior of the dissolved oil unknown, Environmental Protection Agency Administrator Lisa Jackson has said…"

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"A government team appointed by the Coast Guard estimates oil has been spilling from the well at a rate of 12,000 to 19,000 barrels a day. That could increase as much as 20 percent when BP makes its next attempt to control the leak by sawing off a damaged pipe. Within the week, BP plans to reconnect the pipe and funnel oil to a ship on the surface…Even if BP succeeds, long-term damage to the Gulf ecosystem is unavoidable…"

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"Marine biologists are worried the oil will kill off fragile organisms, such as shrimp and fish larvae and plankton, a critical part of the offshore food chain…Fish can also suffocate if their gills are coated with crude.

"Microbes in the sea that feed on oil seeping from the seabed are expected to consume most of the underwater oil from the leak…[but in] such a big oil spill, that may bring its own problems…Populations of oil-gorged microbes could expand rapidly, consuming oxygen needed by other sea life and creating 'dead zones.'"


CHINA WIND IN IPO
China wind power group in $1.2 billion IPO: sources; China's second-largest wind turbine maker, Xinjiang Goldwind Science & Technology Co Ltd, plans to raise up to $1.2 billion in a Hong Kong initial public offering, sources close to the deal said.
Kennix Chim and Leonora Walet, May 31, 2010 (Reuters)

"The offering will test the appetite for renewable energy firms in a market heavy with property and financial companies. The Hong Kong stock exchange said earlier this year it would mine mainland Chinese and international markets to keep its listing momentum.

"Goldwind's attempt at a Hong Kong IPO could mark the largest offering by a Chinese wind company since the $2.2 billion listing in December of the nation's biggest wind-power producer, China Longyuan Power Group Corp…"

Goldwind is second in China and fifth in the world. (click to enlarge)

"Hong Kong's Hang Seng Index has lost more than 6 percent since the start of May in volatile trading, with investors cautious because of the European debt crisis…Goldwind (002202.SZ), which is already listed on the mainland's Shenzhen stock exchange, would offer 395.29 million shares, or 15 percent of its enlarged share capital, with an indicative price range of between HK$19.80 and HK$23, the sources said…

"The H-share offering price range valued Goldwind at 18.8 to 21.8 times prospective 2010 earnings forecast by sponsors…By comparison, Chinese turbine maker Dongfang Electric (1072.HK) trades at 19 times forecast 2010 earnings, while China High Speed Transmission (0658.HK), a maker of wind gear for wind turbines, trades at 15.6 times…"


POWER GIANT BUILDS TEX WIND PLANT
Alstom Outlines Plans for North American Wind Turbine Assembly Facility
May 25, 2010 (PR Newswire)

"Alstom, a global leader in power generation…[announced] the opening of a wind turbine assembly facility that will create 275 full-time engineering, production, and technical support jobs in Amarillo, Texas…

"…The [115,000 square foot] Amarillo facility will assemble the "nacelles"—i.e., the generator, gearbox, and control systems that make up a wind turbine. The nacelles will be transported from Amarillo to sites where they will be installed together with blades and towers to create the complete wind turbine generators. Alstom will offer its North American customers a product that includes any combination of the complete unit and the engineering, design, construction, and maintenance of the facility."

Schematic of the Alstom nacelle (click to enlarge)

"In particular, Alstom's offering includes the ECO 80/86 wind turbine platform (1.67 MW) and the ECO 100/110 wind turbine platform (3 MW) to accommodate the differing wind regimes across North America. All of Alstom's wind power offerings feature the ALSTOM PURE TORQUE™ design. ALSTOM PURE TORQUE™ is a unique rotor support concept protecting the gearbox and other drive train components from deflection loads, delivering higher gearbox reliability, higher operational availability, and lower maintenance costs…

"Alstom has almost 30 years of experience in the wind power market with over 2,200 megawatts and 1,850 wind turbines in operation, primarily in Europe. Alstom's investment in Amarillo builds on the company's existing presence in the North America, where the company has 6,000 employees, multiple manufacturing sites, and a significant investment in other clean power solutions such as hydro, carbon capture and sequestration (CCS), nuclear, and energy efficiency."


A CHINESE-GERMAN EV
Daimler and BYD Put Electric Car Venture in Gear
Jonathan Schulz, May 28, 2010 (Wheels via NY Times)

"Daimler announced…a joint venture with BYD, the Chinese automobile and battery manufacturer backed by Warren E. Buffett, to build a research and technology center to develop electric cars in BYD’s home city of Shenzhen. The Shenzhen BYD Daimler New Technology Company, as the company will be called, will seek to strengthen each brand’s position in China’s electric-vehicle market."

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"In March, the two automakers signed a memorandum of understanding to build electric cars in China. At the time, Henry Li, BYD’s international sales manager, said a proposed jointly developed electric car would be positioned above the e6, the four-door E.V. that BYD displayed at the Detroit auto show…"