Huge Waste-to-Energy Plant Planned for Ohio
A 9.4 MW biogas combined heat and power (CHP) plant is being developed in Grove City, Ohio. The plant will undergo two phases, spanning 185,000 square feet, making it the biggest waste-to-energy facility of its kind, says 2G CENERGY, which is contracted to provide the biogas technology for the facility. During the first phase, which is set to be completed late this year, the facility will process 30 percent of current waste stream daily- which is about 2,000 tons. The team plans to eventually process 100 percent by 2015.
Sungevity Gets $70 Million from Investors for Global Rooftop Solar Expansion
Sungevity Inc., a closely held rooftop systems developer, received $70 million from investors includeing General Electric and EON SE to expand in Australia and Europe as well as improve its online customer-acquisition service, says CEO Andrew Birch. Sungevity provides rooftop solar systems at little to no up-front cost to consumers. The business is posing a threat to traditional utilities because solar customers purchase less electricity from their local power companies. The Califonia-based company has now raised more than $200 million. About two-thirds of the firm’s business is in the United States, where sales doubled last year.
Canadian Pensions May Boost Electricity Debt Funding
Canada’s pension funds are looking to increase investment in electricity companies that will need to raise C$350 billion ($317 billion) for infrastructure financing by 2030, says Jim Burpee, President of the Canadian Electricity Association. Electric utilities, which sell debt that is often backed by provincial governments and generate revenue from regulated contracts, would be attractive investments for pension fund managers looking for opportunities to match longer-term liabilities. Capital investments in the electrical grid is rising to about C$15 billion a year from an average of C$10 billion over the last 40 years, adds Burpee.
Gazprom Comes Up $910 Billion Short as Russia Stumbles
Back in 2007, in the midst of the greatest commodities rally on record, Gazprom Deputy CEO Alexander Medvedev made a prediction that the company’s market value would quadruple to $1 trillion within seven years. The CEO was off by $910 billion. Since Medvedev announced that forecast, no company among the world’s top 5,000 has suffered a bigger collapse than Gazprom, suffering a $154 billion nose-dive. It is not just Gazprom, it is Russia who failed, says Ian Hague, a founding partner of Firebird Management LLC. Russia failed to create an environment where state-owned firms would function as shareholder-owned entities, adds Hague.