QUICK NEWS, 4-19: SOLAR VENTURE INVESTING UP; FIGHTING FOR LAKE MICHIGAN WIND; GOOGLE IN ON SOLAR POWER PLANT; LAND FOR WIND

FUKUSHIMA – NINE MORE MONTHS
Japan nuclear crisis 'over in nine months'
17 April 2011 (BBC News)

"The operator of Japan's crippled Fukushima Daiichi nuclear plant has said it expects to bring the crisis under control by the end of the year…Tokyo Electric Power Co (Tepco) aims to reduce radiation leaks in three months and to cool the reactors within nine months…

"Radiation levels in the sea near reactor 2 rose to 6,500 times the legal limit…up from 1,100 times… raising fears of fresh radiation leaks…Tsunehisa Katsumata, the chairman of Tepco, Asia's largest utility…[said] they would need up to nine months to bring the power plant to 'cold shutdown'…He said the plan would allow the tens of thousands of families evacuated from the area around the facility to return home as soon as possible…

"Tepco said after cold shutdown it would focus on encasing the reactor buildings, cleaning up contaminated soil and removing nuclear fuel."

http://www.youtube.com/watch?v=QdRzA7mdRCE&feature=player_embedded#at=38

From AssociatedPress via YouTube

"Japan's government had ordered Tepco to come up with a timetable to end the crisis, now rated on a par with the world's worst nuclear accident, the 1986 Chernobyl disaster…[Reports say Tepco] is still not certain that the nine-month deadline can be achieved.

"…[T]he immediate priority for Tepco is to stop radioactive water leaking into the Pacific Ocean…[It is using] remote-controlled robots…[in] one of the reactors to gauge radiation and temperature levels…[The QinetiQ machines] are controlled using a standard games console…[They] can carry out tasks such as rubble clearance, demolition and radiation testing…Japan is a world leader in such technology, but its robots are not adapted for dirty work such as meltdowns at nuclear plants, experts say…

"Emergency workers have been unable to enter any reactor building since the disaster…Japan's recovery bill has been estimated at $300bn (£184bn) - already the most expensive disaster in history…[and the government has said] that figure might be an underestimate…"


SOLAR VENTURE INVESTING UP
Solar Venture Capital Funding Off To Strong Start In First Quarter
12 April 2011 (Solar Industry)

"Venture capital (VC) funding in the solar sector posted positive results for the first quarter of 2011 (Q1'11), coming in at $658 million in 25 deals - compared to $238 million in the previous quarter and $311 million in the first quarter of last year."

"According to a report from Mercom Capital Group LLC, a global clean energy communications and consulting firm, the trend was similar in the mergers and acquisitions (M&A) space, with activity amounting to $1.4 billion in 18 transactions for Q1'11, compared to $266 million in the fourth quarter of 2010 (Q4'10) and $909 million in the first quarter of (Q1'10). Debt and other types of funding activities came in at $9.7 billion in Q1'11 with 15 deals…"

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"The top five funding deals made up for almost 70% of the total funding in this quarter, led by a $201 million Series E raise by BrightSource Energy…Thin-film companies attracted the most funding, with $283 million raised in seven deals…Copper indium gallium selenide was the most popular technology within thin films, accounting for $196 million in four deals. Concentrating solar power companies raised $212 million in three deals, followed by $84 million raised by solar downstream companies in six deals."

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"There were 55 different VC investors that participated in 24 disclosed deals, according to Mercom Capital…In continuing with last year's trend, VC arms of companies remained active in the solar sector…Among countries, the U.S. was dominant in VC funding, accounting for 87% of all VC funding in the first quarter; 89% of all VC funds raised by solar companies in 2010 were also from the U.S.

"Out of $9.8 billion announced in debt and other funding, $7.6 billion came in from the Bank of China for Jinko Solar. This is a continuing trend from the last year, when Chinese government banks provided a total of approximately $34 billion in credit to Chinese solar manufacturers…There was $2.1 billion in non-Chinese debt transactions, showing significant improvement in the credit markets in Q1'11…"


FIGHTING FOR LAKE MICHIGAN WIND

Debating wind energy: Offshore ban won't keep turbines out of the Great Lakes
Paula Holmes-Greeley, April 12, 2011 (The Muskegon Crhonicle)

"…Less than six months ago — during a different legislative session — bills regulating the placement of wind turbines in the Great Lakes were introduced…The idea was to create laws that would have protected the lakes while allowing the regulated growth of a new energy source that not only would have provided a clean source of energy further protecting our environment, but could have created a new industry in the state.

"The bills were prompted by Scandia Wind Offshore’s extensive $4 billion plan to place wind turbines off the shores of Mason, Oceana, Muskegon and Ottawa counties in Lake Michigan. One of the problems the company faced was that the state didn’t have any regulations in place…Citizens weren’t protected, either…[A] new bill introduced by two shoreline lawmakers this month… Newly elected Rep. Jon Bumstead, R-Newaygo…[and] newly elected Rep. Ray Franz, R-Onekama…[from] communities that did not want wind turbines in their part of the lake…not only bans offshore turbines, but research, too."

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"Bumstead said the turbines would diminish property values, create unacceptable views and were not cost-effective…Apparently, the Republican Party’s opposition to picking winners and losers has not made it to Bumstead’s district…[He] also said there has been so much research on wind turbines that no more is needed…Is he afraid that continued research will create more cost effective turbines, because that’s what has happened in the last year as improved rotors, motors and blades have been developed increasing the viability of wind power. Or perhaps floating technology could be developed that would allow the turbines to be located farther out in the lake, eliminating the visual issues.

"Both lawmakers said they are concerned about the “industrialization” of the Great Lakes. Does that extend to Great Lakes shipping? Commercial and recreational fishing and boating? Ferry traffic? Dumping of coal ash into Lake Michigan? Pumping of Lake Michigan water into a power plant to generate electricity? All of these industrial uses take place in Bumstead’s and Franz’ districts. What about the coal plants located on lakeshore around the state, that power Bumstead’s and Franz’ districts."

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"Lawmakers should not bury their heads in the sand on offshore wind. If Michigan is not at the table, it doesn’t mean that wind turbines won’t be developed in the Great Lakes. Wisconsin, Illinois, Ohio and Canada all are looking at ways to harness the wind because this area — especially the lake — is a terrific source of constant wind. It’s a natural resource the Great Lakes region has that isn’t found in very many places.

"What not being at the table means is that Michigan won’t have a chance to guide the development of this industry or to benefit from the jobs it might create. We’ll still be paying for the electricity generated by wind turbines as it is sold to our power companies by neighboring utilities…[T]his bill will assure one thing: The wind turbines won’t be in our backyard, for the few of us that own lakefront property."


GOOGLE IN ON SOLAR POWER PLANT
BrightSource Energy Closes Financing for Ivanpah Project; Finalizes $1.6 billion in loans guaranteed by the US Department of Energy, Google Joins BrightSource and NRG Solar as Equity Investor in Ivanpah Solar Project
April 11, 2011 (BrightSource Energy)

"BrightSource Energy, Inc…has closed financing for the Ivanpah Solar Electric Generating System. Ivanpah is the world‘s largest solar project under construction and when completed in 2013 will nearly double the amount of solar thermal electricity produced in the U.S. today.

"As part of the financing, BrightSource finalized $1.6 billion in loans guaranteed by the U.S. Department of Energy‘s Loan Programs Office. The company also announced that Google will join NRG Solar LLC and BrightSource as an equity investor in the project by making a $168 million investment."

Schematic of the BrightSource solar power plant technology (click to enlarge)

"In October 2010, NRG Solar LLC, a wholly owned subsidiary of NRG Energy, announced its commitment to invest up to $300 million to become the lead investor in the project. NRG‘s investment commitment coincided with BrightSource‘s engineering partner, Bechtel, commencing construction on the project…"

from BrightSource Energy - click to enlarge

[Jack Jenkins-Stark, Chief Financial Officer, BrightSource Energy:] “By driving energy innovation in the field, not just in the labs, the DOE‘s loan guarantee program is playing a vital role in realizing our nation‘s clean energy and economic goals…In partnership with the DOE, NRG, Bechtel and now Google, we‘re building at Ivanpah cost-effective, environmentally friendly and reliable solar power plants. We‘re thrilled to work with two of America‘s leading utilities – PG&E and Southern California Edison – to provide their customers with clean, reliable and cost-effective solar power at a meaningful scale.”

[Rick Needham, Director of Green Business Operations, Google:]“We‘re excited to be making our largest clean energy investment to date. With this investment, we‘re helping to deploy the first commercial plant of a potentially transformative solar technology able to deliver clean energy at scale…Ivanpah will be the largest solar power tower project in the world, able to produce clean electricity at the highest efficiency of any solar thermal plant. We hope it can serve as a proof point and spur further investment in this exciting technology."