QUICK NEWS, January 19: $1.9 BILL VC MONEY IN SUN; CALIF CPUC APPROVES 1,000 MW OF NEW ENERGY; NEW YORK INVESTS $30 MIL IN BIG SUN

$1.9 BILL VC MONEY IN SUN
2011 Sees $1.9 Billion in Solar Venture Capital, $4 Billion in M&A; No Sign of ‘Solyndra Effect’ Yet
January 9, 2012 (Mercom Capital Group)

"…Venture capital (VC) funding and M&A activity were strong in 2011, setting records for number of deals and M&A activity…

"…VC investment in solar totaled $1.9 billion in 111 deals in 2011—the highest number of deals ever in a single year. By comparison, there were 65 VC deals in 2010, 84 in 2009, 93 in 2008, and 71 in 2007…"

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"…The top VC investor of 2011 was Kleiner Perkins Caufield & Byers, which completed eight transactions, followed by GE and Good Energies, with six transactions each. There were 182 VC investors in solar in 2011…

"…While Solyndra dominated headlines in the United States and globally, over $700 million worth of VC investment came after the solar manufacturer’s bankruptcy announcement on August 31, 2011…Fourth quarter VC funding totaled $511 million, compared to $372 million in Q3, $354 million in Q2, and $658 million in Q1…"


CALIF CPUC APPROVES 1,000 MW OF NEW ENERGY
CPUC Approves More Than 1,000 Megawatts of In-State Renewable Energy Capacity that Will Contribute to California’s 33% Renewables Target
January 12, 2012 (California Public Utilities Commission)

"The California Public Utilities Commission (CPUC)…approved five renewable energy contracts totaling 1,088 megawatts (MW) of capacity with forecast annual generation of 2,927 gigawatt-hours (GWh), furthering the state's progress towards its [33% by 2020] renewable energy goals [the most ambitious in the U.S.]…

"Southern California Edison received approval of three 20-year power purchase agreements (PPAs) with Solar Star California (SunPower) for the Quinto, AVSP I, and AVSP II projects…solar photovoltaic facilities that will provide 711 MW of new renewable capacity and an estimated 1,835 GWh of energy annually…near Los Banos and Rosamond, Calif…[T]he Quinto project…[should begin generating] in December 2014…[and] the AVSP I and AVSP II projects…in October 2016…"

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"Pacific Gas and Electric Company received approval of a 25-year PPA with Montezuma Winds II, LLC (NextEra) for the Montezuma Winds II project…a wind facility that will provide 78.2 MW of new renewable capacity and an estimated 201 GWh of energy annually…located in the Montezuma Hills of Solano County, Calif., a well-known wind resource area…[and] anticipated to begin [generating] in November 2012.

"San Diego Gas & Electric received approval of a 20-year PPA with Ocotillo Express, LLC (Pattern) for the Ocotillo Express project…a wind facility that will provide 299 MW of new renewable capacity and an estimated 891 GWh of energy annually…located 25 miles west of El Centro in Imperial County, Calif…anticipated to begin [generating] in December 2012…"


NEW YORK INVESTS $30 MIL IN BIG SUN
New York Solar Companies Receive $30 Million Investment From NYSERDA
17 January 2012 (Solar Industry)

"The New York State Energy Research and Development Authority (NYSERDA) and the state Public Service Commission (PSC) have awarded $30 million to help fund large-scale solar power projects that will assist facilities in New York City and the lower Hudson Valley generate electricity…

"The money was awarded to solar installers, solar developers and real estate owners, including Alteris Renewables Inc., altPOWER, Bright Power, ConEdison Solutions Inc., Earthkind Energy Inc., Martifer Solar USA, OnForce Solar Inc., Ross Solar Group LLC, SolarCity, Solar Energy Systems LLC, Solartech Renewables, SunEdison, SUNation Solar Inc., SunRay Power and MS Harrison LLC."

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"The projects were selected through a competitive process. The NYSERDA incentive pays up to 50% of the cost of a project, up to $3 million.

"The $30 million represents the first of five years of planned funding under a $150 million Customer-Sited Tier Regional Program. This program was launched in mid-2011 to encourage large businesses, colleges and universities, schools and other large buildings to take advantage of renewable energy incentives specifically for New York
City and the lower Hudson Valley."