(SeeNews) - Oct 4, 2013 - In October’s first week, Goldman Sachs agrees to pay USD 1.46 billion for a piece of Dong Energy, Liberty Interactive puts USD 300 million into the 280-MW Solana CSP project in US and Reykjavik Geothermal gets 1-GW job in Ethiopia, while Vestas says it will shut down Italian plant.
US investment bank Goldman Sachs Group Inc (NYSE:GS) will spend around USD 1.46 billion (EUR 1.1bn) on a stake of some 19% in Danish state-owned utility Dong Energy A/S, the latter said Wednesday. Also, two of Denmark’s biggest pension funds -- Arbejdsmarkedets Tillaegspension (ATP) and PFA Pension Forsikringsaktieselskab -- will buy 5% and 2% stakes, respectively, in the company.
The deal with the three new investors values Dong Energy at about USD 5.75 billion and will cut the government’s stake in the offshore wind and oil and gas company to 60% from the current 81%.
IRELAND’S ONSHORE WIND TO LURE EUR 4.7BN BY 2020
Good news came from Ireland on Thursday, as the Irish Wind Energy Association (IWEA) said the onshore wind energy sector in the country could attract EUR 4.7 billion in investment by 2020. The organisation explained that 119 new projects of over 2.7 GW in total have sealed contracts for grid connection. The wind sector in Ireland currently employs more than 3,400 people, while 60% of IWEA member firms expect to employ more people in 2014.
Speaking of wind jobs, 120 workers in Italy got a serious blow this week as Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) said Wednesday it planned to discontinue operations at the Taranto nacelle assembly plant. The move corresponds to the company’s efforts to adjust its production capacity to the weakening demand.
More details on: http://renewables.seenews.com/news/irelands-onshore-wind-to-lure-eur-4-7bn-by-2020-iwea-381283
and on: http://renewables.seenews.com/news/vestas-to-shut-down-italian-nacelle-assembly-plant-381123
REYKJAVIK GEOTHERMAL TO INSTALL 1 GW IN ETHIOPIA
Iceland-based Reykjavik Geothermal said last Friday it had agreed with the government of Ethiopia to construct up to 1 GW of geothermal plants in the country. The plan involves an investment of USD 4 billion over eight to 10 years. About 10 MW are planned to be operational in 2015 and 100 MW in 2016.
LIBERTY PUTS USD 300M INTO ABENGOA CSP PARK, US ARMY AWARDS USD 600M CONTRACT
Spanish firm Abengoa (MCE:ABG) got a reason to cheer this week as US e-commerce specialist Liberty Interactive Corp (NASDAQ:LINTA) invested USD 300 million in the 280-MW Solana concentrated solar power (CSP) project in the US. The investment has been given the thumbs-up by the US Department of Energy (DOE) and the Federal Energy Regulatory Commission (FERC). Abengoa remains managing partner for the USD-2-billion project.
There were good green news from the US on Tuesday as well since the US Army Corps of Engineers said it had awarded a USD-600-million shared capacity contract to 11 firms offering design/build support for energy and energy conservation globally. The shortlisted companies will be responsible for the design and construction of solar power and thermal installations, geothermal heating and cooling systems and heating, ventilation and air conditioning replacement as well as lighting retrofits.
The USD-600-million deal is not part of the USD-7-billion Multiple Award Task Order Contracts (MATOC).
More details on: http://renewables.seenews.com/news/liberty-interactive-puts-usd-300m-in-abengoa-csp-park-in-us-381083
and on: http://renewables.seenews.com/news/us-army-awards-usd-600m-in-energy-conservation-contracts-381025
CHINA PLANS 50% SOLAR VAT REFUNDS, INDIA OKAYS 750-MW SOLAR TENDER
Governments in the East are heavily supporting the renewable energy industry, with India and China providing another proof this week. On Sunday, China's Ministry of Finance unveiled plans to introduce tax breaks for solar equipment makers. Between October 1, 2013 and end-2015 producers selling their own solar power products will get immediate VAT refunds of 50%. The main goal is to help Chinese manufacturers cope with overcapacity and declining exports.
On Thursday, it became clear that India’s Cabinet Committee on Economic Affairs had given the much-awaited nod to the tender for 750 MW of grid-connected solar plants under batch I of the second phase of the Jawaharlal Nehru National Solar Mission (JNNSM). The projects under that batch will be implemented under the viability gap funding (VGF) model. The total VGF needed is estimated at USD 305 million but will depend on the lowest bids in the auction, the Indian government said in its statement.
More details on: http://renewables.seenews.com/news/china-plans-50-vat-refunds-for-solar-makers-380498
and on: http://renewables.seenews.com/news/india-okays-govt-tender-for-750-mw-of-solar-projects-381521
(USD 1 = EUR 0.734)