Atlantis Secures $83 Million for World’s Biggest Tidal-Stream System
Atlantis Resources Corp, a Morgan Stanley- backed maker of tidal turbines, raised about 50 million pounds ($83 million) to begin construction of the world’s largest tidal-stream power farm in Northern Scotland’s Pentland Firth. The funds will be used to finance the installation of four 1.5 MW turbines of MeyGen tidal stream array. The first installation will form a portion of the firs 86 MW phase, that may eventually reach a capacity of 398MW. Construction will start this year and the first power is anticipated to be delivered by 2016.
Thailand’s Energy Absolute to Venture $1.4 Billion in Renewables
Energy Absolute, a Bangkok firm whose shares have more than tripled this year, is planning to invest 46 billion baht ($1.4 billion) over the next three years to boost generation capacity from solar and wind projects. The company is diversifying into clean energy from its traditional business of biodiesel production to take advantage of easy access to the national grid and financing to ramp up capacity from 100 MW to about 570 MW by 2017. The firm is spending 17 billion baht for the construction of two solar projects with a combined output of 180 MW. It also plans to invest 29 billion baht on wind farms with a total capacity of 390 MW.
Old Batteries Recycled Into Solar Cells
A system proposed by MIT researchers can make use of discarded car batteries into new solar panels that provide emission-free power. The system is based on a recent development in solar cells that makes use of a compound called perovskite. Perovskite-based photovoltaic cells have achieved power-conversion efficiency of more than 19 percent, which is close to that of many commercial silicon-based solar cells. Initial descriptions of perovskite technology identified its use of lead – and this is where old car batteries come into the picture. MIT scientists found that the lead from a single car battery could produce enough solar panels to provide power for 30 households.
New Cable Technology Can Carry Twice the Amount of Power from Offshore Wind Farms
ABB Ltd. said a power-cable technology that allows offshore wind farms to send more than twice the energy of current cable set-ups will boost orders at the company’s power systems division in coming years, adding that rival companies are at least some years behind. The technology will spur the development of even bigger offshore wind farms by doubling the power capacity of cable connections to about 2,600 MW from 1,000 MW today, making it the world’s most powerful subsea connection system, says Chief Technology Officer Claes Rytoft. First orders for the new technology could come from U.K. and German transmission system operators, adds Rytoft.