President Obama pledges $4 Billion for energy efficiency retrofits, Renovalia Energy, First Reserve make JV to build wind projects in Europe and North America, Orion Energy Systems, De Lage Landen team up for energy efficiency finance and Princeton integrates Grid-Tied Inverter into PJM Regulation Market.
Obama Pledges $4 Billion For Energy Efficiency Improvements
President Barack Obama has ordered the U.S. government to execute at least $2 billion worth of energy efficiency upgrades over the next two months. The directive is part of President Obama’s Better Buildings Initiative, which sets to lower energy use in commercial buildings by 20 percent by 2020. The savings in energy costs are expected to reach $40 billion per year, and some early estimates show that more than 100,000 jobs will be created from the new program. 60 private companies, hospitals, cities, states, colleges, and universities, have pledged to $2 billion in energy efficiency retrofits to 1.6 billion square feet of property. Companies who are joining the President on his Initiative include General Electric, ALCOA, the InterContinental Hotels Group and the city of Sacramento, California.
Renovalia Energy, First Reserve makes JV to build wind projects in Europe and North America
First Reserve Corp. and Renovalia Energy have formed a joint venture, Renovalia Reserve, to own and operate wind projects in Europe andNorth America.
First Reserve will invest $150 million into the joint venture, which will manage the new company’s existing generating capacity and the promotion of new wind projects. Renovalia Energy Chairman Juan Domingo Ortega has been named chair of the joint venture.
Renovalia Reserve will initially comprise Renovalia Energy’s 259 MW of operating wind assets inSpainandHungary, and its wind pipeline inCanada,RomaniaandSpain, with total capacity of more than 300 MW.
Princeton integrates Grid-Tied Inverter into PJM Regulation Market
Princeton Power Systems will integrate its Grid-Tied Inverters as a power resource for the PJM Regulation Market. The inverters, in conjunction with lead carbon (PbC) and lithium-iron phosphate batteries, will participate in two locations as 100 kW resources to enhance reliability and increase the efficiency of the grid. The inverters are a unique aspect of the system as they are capable of working with several types of batteries and capable of multiple communication options, including the DNP3 protocol used by PJM. While the recent FERC regulation allows for a minimum of 100 kW, the inverters can be configured for anywhere as much as 1 MW or more.
Orion Energy Systems, De Lage Landen team up for energy efficiency finance
Orion Energy Systems Inc. has entered an agreement with De Lage Landen for the purpose of financing Orion’s Throughput Agreement (OTA) projects. The program agreement is aimed at making energy efficiency finance more easily available and affordable for companies who desire to benefit from the tremendous energy cost savings delivered through Orion’s energy management products.