Energy companies demanding a single EU market, Ormat completes the development of a large geothermal plant and information about the nation’s first net-zero bank.
Energy Companies Demand a Single EU Market
European Union leaders will meet in two days for the first-ever EU summit on energy. A handful of companies such as Enercon, Acciona, GE Energy and Siemens are encouraging the Heads of State to create a single electricity market by 2015. Associations and commissions such as the European Renewable Energy Council, European Wind Energy Association and many more also support the move toward a single energy market. Currently only five percent of the continent’s electricity is traded across borders and this makes for inefficient competition. According to supporters, a better market would lead to reduced prices, improved security of supply and increased trade for the spread of innovation.
Ormat Completed Large Geothermal Plant
Ormat Technologies has commissioned a 15-MW geothermal plant and brought it to commercial operations in Jersey Valley, Nev. This plant was the only utility-scale geothermal facility completed in the U.S. in the past year. It is currently operating at partial load and will be completed in the second quarter. A 20-year power purchase agreement has been signed with Nevada Energy for the electricity produced. The project was partly funded by the DOE and federal incentives.
Nation’s First Net-Zero Bank
TD Bank announced it is building the first net-zero energy bank in the United States this spring in Fort Lauderdale, Fla. In order to do so, the building will be constructed with energy efficient materials and will use renewable sources to generate power. The new bank will require nearly 97,000 kWh of electricity annually, but it will produce at least 100,000 kWh on site. TD is also looking to achieve LEED Platinum certification, the highest LEED level attainable. Some features that will make the bank efficient include a solar drive-thru canopy producing up to 20 percent of the building’s energy needs and rooftop solar panels. Additional panels will also be grounded on fields surrounding the building.
Key Equipment Financing Solar Panels on Princeton
Key Equipment Finance is financing a solar installation on Princeton University. The system, to be built and installed by SunPower, consists of 16,500 photovoltaic panels spanning 27 acres. It is expected to be one of the largest single solar installations at a U.S. university. Once complete, the system will generate eight million kWh annually, enough to meet a little over five percent of the total campus electricity needs. Solar Renewable Energy Credits will be sold to help pay for the project.
California Utility Purchasing Wind Power from Canada
California Public Utilities has approved a 20-year power purchase agreement with Greengate Power Corp for 450-MW of wind generation. The power will come from several wind facilities in Canada such as the Halkirk I Wind Project, Blackspring Ridge IA Wind Project and the Blackspring Ridge IB project. The agreement is the third largest wind energy transaction completed by a California utility. The Halkirk project will be completed in 2012 and is expected to have a generating capacity of 150-MW. The Blackspring Ridge undertakings will have a capacity of 300-MW, the largest wind project in Canada when it is completed in 2013.
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