Green Infra Seeks $150M for Wind Farms
Green Infra Ltd., an Indian wind-farm developer, is in talks with at least two investors to raise $150 million. The funds will be used to increase generation capacity to 1 gigawatt from 295 megawatts in two years. India, currently the third-biggest in wind market, is attracting investments as the cost of wind power drops and fossil-fuel imports increases, making renewable energy more competitive with coal. Developers’ bids in auctions for coal-fired power stations have ranged from $49 to $78 a megawatt-hour, compared with tariffs for wind farms between $66 and $105 a megawatt-hour.
Hanergy Acquires Solar Panel Maker MiaSole
Hanergy Holding Group Ltd. bought MiaSole Inc., a California-based thin-film panel maker, to increase capacity in anticipation of a solar industry revival. The acquisition by the Beijing-based renewable-energy producer is its second in a less than a year after it bought the Solibro unit of Germany. Chinese renewable-energy companies, including solar-wafer maker LDK Solar Co., are buying companies in the west, where slowing demand and rising supply have trimmed profit margins. The purchases also give Hanergy technology to compete with First Solar Inc., the biggest maker of thin-film panels by shipments.
Yingli Ships Record Number of PV Panels
Yingli Green Energy Holding Co. Ltd. says its initial tally of module shipments in 2012 exceeded 2.2 gigawatts, a record high for the company. 4Q12 results are not due until late February 2013, but Yingli now says initial data suggests 4Q12 shipments also achieved a new record. Yingli wouldn’t provide figures about its 2013 expectations, though acknowledged more visibility will be forthcoming in those 4Q12 results.
Blue Sun to Launch Next Generation Biodiesel Production with New Key Hires
Blue Sun, a technology commercialization company specializing in proving promising research breakthroughs in the field of liquid transportation fuels, has hired biofuels industry veteran Bruce Baughman as Chief Operating Officer. Mr. Baughman will play a key role in identifying first-generation plants for acquisition, and integrating Blue Sun’s latest enzymatic processing technology into the St. Joseph, Missouri biodiesel facility. Blue Sun estimates their current technology will reduce net production costs by over 90 cents per gallon – a $27 million cost reduction for a 30 million gallon per year plant.