World’s Largest Wind-Solar Hybrid Installation Unveiled in Jamaica
The world’s largest wind and solar hybrid installation was recently unveiled in Kingston, Jamaica. It consists of 50 vertical axis wind turbines that delivers 25kW, combined with 55kW worth of solar panels. The WindStream Technologies array is positioned less than a quarter mile from the Kingston coastline, frequently experiencing wind gusts as high as 60 miles per hour. The project is anticipated to generate around 106,000 kWh annually with a return on investment in less than four years.
Uranium to Rebound as Japan Prepares to Re-join Nuclear Club
Uranium is seen to rebound from the lowest prices in nine years as Japan inches closer to restarting some of its idled nuclear generators, signaling an increase in consumption of the atomic fuel. Japan’s nuclear regulator recently vouched for the safety of two nuclear facilities in the country’s southern region, suggesting a possible return of atomic power generation. Since the meltdown of Fukushima Dai-Ichi plant last 2011, the price of uranium had fallen about 60 percent. It dropped to $28 per pound on May 19, the lowest since May 2005.
Japan’s Yaskawa to Expand Renewables Portfolio, Acquires Solectria and The Switch
Japan-based Yaskawa Electric Corp., a global leader in factory automation machineries, announced that it will acquire US-based inverter maker Solectria Renewables LLC to broaden its renewable energy business globally. Through Solectria, Yaskawa will gain the unique position of being the lone solar PV inverter supplier with a top-ten ranking in both the U.S. and Japan. Yaskawa already produces inverters for small PV projects, while Solectria’s products are geared towards large-scale ventures. The Japanese company also acquired The Switch Engineering Oy, a Finnish wind turbine parts maker in early July, following a deal last 2013 to distribute each other’s wind generators an converters.
Offshore Wind Deal Boosts Renewable Investments by 9 %
Global investments in renewable energy increased to $63.6 billion in the second quarter, driven mainly by the biggest deal in clean energy’s history. Financing surged 9 percent from a year earlier, according to Bloomberg New Energy Finance. Boosting clean energy’s investment chart was the $3.8 billion backing of a 600 MW offshore wind farm off the coast of the Netherlands. Rooftop and small-scale solar also surged 41 percent to $21.2 billion from last year. Private equity investments also rose 36 percent to $1.6 billion.