Chinese Coal Company looks Down Under for Wind Power
Shenhua Group Corp., China’s biggest coal producer, has taken stakes in three wind-power projects in Tasmania through state-owned renewable energy unit Guohua Energy Investment Co. The Chinese company is also a potential investor in a proposed $2.1 billion Tasmanian wind farm, which would be the biggest in that part of the globe. Besides wind, China is also attracted by Australia’s $10 billion Clean Energy Finance Corporation, which is set to start making loans by the 3rd quarter of 2013.
UK and Ireland Signs Deal in Trading Renewable Energy
The UK and Ireland recently pledged to work together to secure economic gains for both countries through renewable energy trading. A memorandum of understanding was signed by UK Energy Secretary Ed Davey and his Irish counterpart Pat Rabbitte in Dublin. The two parties have agreed to investigate ways to achieve more cost efficient uses of resources, drive down deployment costs and reduce dependence on fossil fuels. It is hoped that an inter-governmental agreement could be signed in 2014 in time for projects to start exporting wind energy from Ireland to the UK by 2020.
OneRoof Energy gets $30M from South Korean Investor
OneRoof Energy announced that South Korea’s Hanwha Group invested an additional $30 million to help OneRoof expand into new markets, develop new technologies and strengthen dealer support. Hanwha, owner of solar-panel manufacturer Hanwha SolarOne Co., took an $8 million stake in OneRoof in 2011 and has continued to invest in the company over the past year. Hanwha is one of the largest business enterprises in South Korea and a FORTUNE Global 500 company. OneRoof is a solar leasing company that allows homeowners to go solar at little or no upfront cost. The company installs, maintains and owns the entire solar system and sells the power it generates back to the homeowners.
Two Euro Projects Aimed to Improve Wind Turbines
Two European projects are now being undertaken to improve the technology behind wind power generation. In Germany, the Fraunhofer Institute for Wind Energy and Energy System Technology (IWES) has expanded its research in finding ways to automate the manufacturing of rotor blades. IWES’ goal of reducing production cost by 10% is indeed substantial since rotor blades make up a quarter of the total cost of a wind turbine. Meanwhile, in Spain, another project seeks to reduce the cost of offshore wind turbines by 30% through the development of a new compact superconductor-based generator. Called, the SUPRAPOWER project, its main goal is to be able to swap in a new generator to make the turbines smaller and lighter while still have the ability to scale up output power.