Jun 28, 2013 - In an eventful week President Obama releases climate change action plan envisaging more and more renewables, Renewables Infrastructure Group prepares for a GBP-300-million IPO in London and China's Sinovel gets charged with wind turbine IP theft in the US.
US President Barack Obama presented on Tuesday a Climate Action Plan, in which renewables will play a key part among other greenhouse gas reduction measures. The plan directs the Department of the Interior (DOI) to greenlight by the end of the decade enough wind, solar and other renewable energy projects on public lands to cover the needs of over six million households.
More details on: http://renewables.seenews.com/news/us-renewables-to-double-as-part-of-obamas-climate-action-plan-361654
MIDAMERICAN BACKS 579-MW SOLAR PROJECT WITH NOTES ISSUE
With or without the action plan, renewable energy capacity in the US keeps growing and a 579-MW solar project just got a step closer to reality. Solar Star Funding LLC, part of US utility MidAmerican Energy Co (PINK:MDPWK), said Thursday it had raised USD 1 billion (EUR 766m) in a notes issue to back the construction of the Solar Star projects in California.
More details on: http://renewables.seenews.com/news/midamerican-backs-579-mw-solar-project-with-usd-1bn-notes-issue-362234
RENEWABLE INFRASTRUCTURE GROUP EYES GBP-300M IPO FOR WIND, SOLAR BUYS
Across the Atlantic, British firm The Renewables Infrastructure Group Ltd (TRIG) said Thursday it intended to list in London targeting proceeds of GBP 300 million (USD 457m/EUR 350m) for the buy of 276 MW of wind and solar assets. The newly listed shares are expected to kick off trading in late July.
More details on: http://renewables.seenews.com/news/renewables-infrastructure-group-eyes-gbp-300m-ipo-for-wind-solar-buys-361937
DONG ENERGY AGREES TO SELL 196-MW OF WIND ASSETS, HYDROPOWER STAKE
While TRIG is looking to buy more renewables, Danish state-owned utility Dong Energy A/S is selling. It unveiled two divestitures this week, as part of a plan to focus entirely on offshore wind, oil and gas. On Tuesday, the company said it would sell its entire onshore wind business at home, comprising 196 MW of wind turbines. On Thursday, it announced that it had finalised a deal to dispose of its 25.673% stake in hydropower group Kraftgarden AB for about USD 670 million.
More details on: http://renewables.seenews.com/news/dong-energy-to-dispose-of-196-mw-of-onshore-wind-assets-361437
and on: http://renewables.seenews.com/news/dong-energy-sheds-hydropower-stake-for-usd-668m-362060
US CHARGES CHINA'S SINOVEL WITH IP THEFT IN AMSC CASE
Last but not least, the US Department of Justice (DOJ) said Thursday that a federal grand jury in Wisconsin had returned an indictment charging Sinovel Wind Group Ltd (SHA:601558), executives Liying Su and Haichun Zhao and former AMSC employee Dejan Karabasevic in stealing proprietary wind turbine technology from US company AMSC (NASDAQ:AMSC) in 2011 for use in Sinovel's own machines. The alleged loss to AMSC is estimated at above USD 800 million, the DOJ said.
http://renewables.seenews.com/news/us-charges-chinas-sinovel-with-ip-theft-in-amsc-case-362242
(GBP 1 = USD 1.525/EUR 1.168)
(USD 1.0 = EUR 0.766)
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