QUICK NEWS, September 14: CRISIS? GREECE RICH IN SUN; CHINA’S $8 BIL TO U.S. NEW ENERGY; B OF A BUYS INTO SOLARSTRONG; E.ON BUYS 188 GE TURBINES

CRISIS? GREECE RICH IN SUN
Germany keen to buy solar-generated electricity from Greece
September 11, 2011 (AFP)

"Greek Prime Minuster Georges Papandreou confirmed Sunday that Germany was keen to import solar-generated electricity from debt-ridden Greece…[He will] travel to Germany late this month to discuss the project with Chancellor Angela Merkel during a meeting of German industrialists…

"Papandreou spoke of a ‘huge interest’ by the Germans for Greece's renewable energy resources in view of of their plan to phase out nuclear energy and doubts about the political stability of Arab Mediterranean countries…[just as many said] Europe could no longer rule out an ‘orderly default’ for Greece as it struggles with a crippling debt crisis…"

Helios, Greek sun deity and Colossus of Rhodes (click to enlarge)

"After a recent visit by a German official as part of a joint bid to boost investment to spur a Greek recovery, the German environment ministry said it was looking into a project to set up 20,000 hectares of photovoltaic systems to turn solar energy into electricity for export to Germany.

"…[T]he mammoth project dubbed ‘Helios’ (the Greek God of the sun) would have an initial budget of 20 billion euros and would create between 30,000 and 60,000 jobs in Greece…"


CHINA’S $8 BIL TO U.S. NEW ENERGY
ENN Group to invest $8 bln in U.S. clean energy –report
September 2, 2011 (Reuters)

"ENN Group, parent of ENN Energy Holdings Limited , plans to invest a total of $8 billion in clean energy projects in the United States over the next 10 years, the China Securities Journal reported..."

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[Wang Yusuo, Chairman, ENN Group:] "Sino-U.S. cooperation in energy projects is gaining pace, and there will be more investment from Chinese companies in the United States if the United States is more open in its investment policy..."


B OF A BUYS INTO SOLARSTRONG
Bank of America Merrill Lynch to Finance Largest Residential Solar Project in U.S. History; Second Solar Deal Since June Solidifies Bank's Leadership in Distributed Solar Generation
September 7, 2011 (Business Wire via Bank of America)

"Reaffirming its status as the go-to bank for financing distributed solar generation projects, Bank of America Merrill Lynch…[announced backing for] Project SolarStrong, the largest residential solar power project to date and the first of its kind…

"SolarStrong is expected to create more than $1 billion in solar projects and 371 megawatts of new solar generation capacity through the installation of rooftop photovoltaic (PV) systems on up to 160,000 U.S. military residences on as many as 124 U.S. military bases in 33 states."

"BofA Merrill has joined with SolarCity and US Renewables Group on the project, which will create thousands of jobs and provide low-cost, renewable electricity, while avoiding the emission of over 250,000 metric tons of carbon dioxide annually. Many of the jobs are expected to be filled by U.S. veterans and military family members, who will be recruited, trained and employed to install, operate and maintain the PV systems.

"The project will be financed by the private sector through a combination of debt and equity, and the U.S. Department of Energy's Loan Programs Office has offered a conditional commitment for partial guarantee of a $344 million loan. SolarCity will install, own and operate the rooftop solar installations; USRG Renewable Finance, a subsidiary of US Renewables Group, is acting as lead lender; and BofA Merrill will provide debt financing for the project, as well as advisory and administrative services…"


E.ON BUYS 188 GE TURBINES
GE wins 300MW E.ON Illinois deal
James Quilter, 7 September 2011 (Windpower Monthly)

"E.ON [the world's biggest investor-owned utility] has signed a deal for 300MW with GE for two wind farms in Illinois...The contract is for 188 1.6MW turbines to go to the Settlers Trail and Pioneer Trail wind farms...in the northern Illinois counties...GE will handle maintenance as part of an agreement signed between the manufacturer and E.ON in 2009."

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"Each wind farm will have 94 turbines, which will each have 80 metre towers and 82.5 metre diameter blades...E.ON has signed two recent supply deals...[including one with Vestas]...for an unnamed project in the US for 202MW...[and a Siemens deal] for 200MW to be built in Texas later this year."