The company intends to use approximately 50 - 60 percent of the net proceeds for downstream expansion and the remaining proceeds for general corporate purpose.
Deutsche Bank Securities Inc. and Goldman Sachs (Asia) L.L.C. are acting as the joint bookrunners for the offering. HSBC Securities (USA) Inc. is acting as a co-manager for the offering. (Source: Yingli Green Energy Holding Company Ltd., PR, 23 April, 2014) Contact:
Yingli Green Energy Holding Co., Qing Miao, VP Corp. Communications, +86 312 8929787,
Tags PV news, Solar news, Yingli Green Energy Holding news,
Britain's giant Barclays Bank has sold its carbon trading business while Deutsche Bank, JPMorgan and UBS have closed their carbon trading operations or climate change advisory practices. Others such as Morgan Stanley have reduced their trading desks from full time to part time operations.
Last week the EU member states agreed in principle to reforms aimed at cutting emissions by increasing the cost for companies to buy what they described as the "right to pollute".
Under the deal, the auctioning of 900 million emission permits (EUAs) would be withheld from the market until the later past of the decade to drive the permit price up.
EU Climate Change Commissioner Connie Hedegaard responded to the maneuver be tweeting "Finally! Common sense prevailed. "
(Source: news.com.au, 21 Nov., 2013)
Tags EUAs news, Carbon Credit Trading Carbon Emissions news, Connie Hedegaard news,
In 2012, juwi group repositioned itself strategically to be better prepared for the upcoming challenges in a dynamic energy market. The company's core business, project development, has been pooled together in a new company called juwi Energieprojekte GmbH where, wind power will continue to play a vital role. In 2012 juwi was leading the wind market (onshore) in terms of new installations.(Source: juwi group, PR, 27 Aug., 2013) Contact:
juwi group, Sascha Rober, CFO, Michael Lohr, Public Relations & Media Communications,
+49. (0)6732. 96 57-1207,
Tags juwi group news, Renewable Energy news, Wind news, Solar news,
BluForest Inc. is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation (REDD+)
Bluforest's land assets rank amongst the most valuable in the world. Their location within a government protected National Park places them on a level above most competitors who often face risks associated with permanence and other influences beyond their control. (Source: Bluforest, Aug. 12, 2013) Contact: Bluforest Inc., (855) 509-5508, firstname.lastname@example.org, www.bluforest.com
Tags Bluforest news, Carbon Market news, California Carbon Market news, REDD news,
Deutsche Bank's decision to walk away from carbon trading could be in part a knee-jerk reaction to depressed carbon markets or a result of the fraud investigation that caused the bank to close its German emissions trading desk several years ago, or both.
(Source: Deutsche Bank, Carbon Finance, 2 Feb, 2013)
Contact: Deutsche Bank, www.db.com
Tags Deutsche Bank news,
The investigation is believed to be connected to the value-added-tax (VAT) "carousel fraud", where goods were imported VAT-free then sold on to domestic buyers at a price that includes VAT.
In 2011, a German court jailed six individuals over a €300 million ($391 million, £249 million) fraud selling carbon emission permits through Deutsche Bank.
In the same year, the Office of the Attorney General of Germany said in a statement that Germany has lost €850 million in tax revenues to frauds involving carbon emissions trading. (Source: IBTimes, Dec. 12, 2012) Contact: Deutsche Bank, www.db.com
Tags Deutsche Bank news, Carbon Markets news, Carbon Trading news,
On Monday, US-based SunPower Corp said it is teaming up with partners in China to manufacture and sell its c7 tracker concentrator technology in the Asian country.
SunPower will invest $15 million and receive a 25 percent stake in the $60 million joint venture. (Source: Canadian Solar, Reuters, 3 Dec., 2012) Contact: Canadian Solar, (925) 866-2700, www.canadiansolar.com; Sunpower, Howard Wenger, Pres. & CEO, www.sunpowercorp.com
Tags Canadian Solar news, SunPower Corp news,
The German banking behemoth last week lodged its application with the Australian Securities and Investments Commission (ASIC) to have its Australian Financial Services License amended, and expects approval early next year. To date, the ASIC has issued 43 carbon trading licenses to companies ranging in size from COzero and Greenfleet to ANZ, Commonwealth Bank and UBS.
The 317 companies liable to pay the carbon tax in Australia have, for the most part, focused on compliance and may establish their own carbon trading teams.
According to Ric Brazzale, managing director of Green Energy Trading and president of the REC Agents Association, the carbon market, including voluntary abatement, was "more vibrant" several years ago. (Source: Sydney Morning Herald, Dec. 3, 2012)
Contact: Deutsche Bank, www.db.com
Tags Deutsche Bank news, Carbon Markets news,
Ocotillo Wind will be the first renewable energy project to interconnect into the newly constructed Sunrise Powerlink, a 500-kv transmission line that was developed to bring renewable power from the Imperial Valley to San Diego. The wind project will provide energy equal to the needs of approximately 125,000 homes in Southern California each year. Pattern entered into a 20-year PPA with San Diego Gas & Electric (SDG&E) for the sale of energy produced by the project. Blattner Energy is managing construction of the project.
Ocotillo Wind will be Pattern Energy's fifth operating wind project in North America and, upon completion, will bring the Company's total to more than 900 MW of installed wind power capacity. Pattern expects to complete a wind project in Puerto Rico and bring a number of wind projects in Canada into construction over the next 12 months. (Source: Pattern Energy, Oct. 12, 2012) Contact: Pattern Energy, Matt Dallas, (917) 363-1333, email@example.com, www.patternenergy.com; Blattner Energy, (320) 356-7351, www.blattnerenergy.com
Tags Pattern Energy news, Wind news, Blattner Energy news, SDG&E news,
Creditors' voluntary liquidation involves a company's shareholders passing a resolution to wind up the firm and sell its assets, often as a result of mounting pressure from unpaid creditors. Begbies Traynor is the court appointed liquidator.(Source: Begbies Traynor, Aug., 2012)
Tags CERs news, Carbon Trading news,
Deutsche Bank has looked into Abbott's promise to repeal the carbon tax and projected that it might not happen until April 2014; nearly two years after the legislation takes effect in July of this year. "Each step in the constitutional process takes time, and in practice, it could take eight to 14 months for the repeal bills to pass, with risks of further delay at each stage of that process," research analyst Tim Jordan wrote in a report released yesterday. "On that timetable, the earliest a repeal bill could pass after an August 2013 election would be April 2014, 22 months after the carbon price comes into force."
But whether repeal is the ideal outcome is another issue, since abandoning a market mechanism for reducing emissions would only provide a temporary reprieve for major emitters. The carbon price is likely to have a modest impact on most listed emitters: most high-carbon firms in trade-exposed sectors will receive free units (and in the case of steel makers, cash grants) to offset the impact; resources companies face a small impact relative to earnings; airlines will pass on the cost in ticket prices; and utilities are likely to recover most of their additional costs through higher electricity prices.
The Labor government and an opposition coalition have a bipartisan commitment to cut emissions by 5 per cent below 2000 levels by 2020.
(Source: Brisbane Times, 9 May, 2012)
Tags Australia Carbon Tax news,
Many of these credits are held by sovereign governments, which may use them for compliance with targets through this year under the 1997 Kyoto Protocol, said Richard Chatterton, an analyst for New Energy Finance in London. Chatterton forecast use of banned credits in 2012, the final year they're allowed, will fall 24 percent to 135 million tons.
Factories and power stations used 254.6 million offsets in the bloc's cap-and-trade program, the data show. Offsets may be used to cut compliance costs with Europe's carbon trading system.
Emitters may use 277 million tons of credits next year, 8.6 percent more than last year, Chatterton forecast. That's less than the 300 million tons forecast by Deutsche Bank AG and 400 million tons by Barclays Plc. (Source: Barclays, New Energy Finance,, 2 May, 2012)
Tags Carbon Credits news,
Morgan Stanley & Co. LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Jefferies & Company, Inc. is acting as joint lead manager, and Lazard Capital Markets LLC and ThinkEquity LLC are acting as co-managers. The shares are expected to begin trading on the NASDAQ Global Market on March 30, 2012 under the ticker symbol ENPH.
The offering of these securities will be made only by means of a written prospectus, copies of which may be obtained from: Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, by calling (866) 718-1649 or by e-mailing firstname.lastname@example.org; BofA Merrill Lynch, 4 Financial World Center, NYC, NY., 10080. Attention: Prospectus Department or by e-mailing email@example.com; or Deutsche Bank Securities Inc., 100 Plaza One, Jersey City, N.J., 07311, Attention: Prospectus Department, by calling (800) 503-4611 or by e-mailing firstname.lastname@example.org. (Source: Enphase Energy, Inc, March, 2012) Contact :Enphase Energy, Bill Rossi, Marketing Officer, (877) 797-4743 (California Office), www.enphaseenergy.com
Tags Enphase Energy news,
The EU ETS covers industrial sectors that emit the most CO2 but the scheme is being questioned because carbon prices have hit record lows in the past few months, beset by Europe's economic turmoil and uncertainty about a future global climate pact.
The world's biggest carbon market is over supplied with hundreds of millions of permits because of low demand.
Other analysts have projected emissions would grow slightly in 2011, between zero and 2.4 percent, due to softer industrial production in the fourth quarter of last year, milder weather and heavier investment in renewables.
Deutsche Bank said on Monday it expects 2011 emissions to increase by 1.3 percent to 1,963 million tonnes.
In May, the Commission will publish its final data on 2011 emissions. Last year, data showed emissions rose 3.2 percent in 2010. (Source: EU, Reuters, March 26, 2012)
Tags EU ETS news,
BrightSource is vying with other developers including Abengoa SA (ABG), Areva SA, Acciona SA (ANA), Siemens AG (SIE) and ABB Ltd. (ABBN) to commercialize its technology, which uses mirrors arranged around a central tower. Other solar-thermal developers are using so- called parabolic trough systems, with curved mirrors that focus sunlight on an overhead tube that contains a heat transfer fluid and is routed to steam generators. The company began building its first power plant in southern California in 2010, and it's expected to enter operation in 2013. The project is backed by a $1.6 billion loan guarantee from the U.S. Energy Department, as well as equity investments from Google Inc. and NRG Energy Inc. (NRG)
BrightSource said Alstom SA (ALO), an existing investor, and Caithness Energy LLC's development unit agreed to purchase $65 million and $10 million worth of the company's stock, respectively, in a concurrent private placement.
Alstom, BrightSource's largest backer currently with a 19.9 percent stake, would own 21.9 percent after the IPO and private placement. Its other backers include Draper Fisher Jurvetson with a 5.9 percent stake, VantagePoint Capital Patners with a 24 percent stake, and Morgan Stanley (MS) with a 9.4 percent stake.
Goldman Sachs Group Inc., Citigroup Inc., and Deutsche Bank AG are leading the proposed offering. The underwriters have an option to purchase an additional 1.035 million shares. (Source: BrightSource, March 21, 2012) Contact: BrightSource Energy, Charles Ricker, SVP, Business Development, (510) 550-8161 ext 108, email@example.com, www.brightsourceenergy.com
Tags BrightSource Energy news,
The projected 125 million tonne surplus, which assumes Australia continues on its current emissions trajectory, represents about a quarter of one year's worth of carbon output. Australia produces about 560 to 580 million tonnes of carbon a year. Australia was given a generous target of 108 per cent of 1990 emissions under the Kyoto protocol. Other reasons for better-than-expected carbon reduction was a drop in electricity demand because of the weather and as people responded to higher power prices by cutting their consumption. Also, changes to land use laws during the 1990s had reduced deforestation, making it easier to meet the target based on 1990 emissions.
The finding comes amid a debate over the starting price of $23 per tonne under Labor's carbon tax, rising to about $25 by 2015, when it becomes an emissions trading scheme with a floating price. With the current international carbon price closer to $10, business groups are arguing $23 is too high.
Jordan said that if the international carbon price fell as low as $5 towards the end of the decade, as was reportedly forecast by Bloomberg New Energy Finance, the government would need to take action, perhaps extending the fixed price period. Such a low carbon price would not change behaviour or encourage investment in low-carbon energy sources.
The debate came as a budget submission from the peak energy body expressed ''deep concern'' that the design of the carbon price is geared more towards raising revenue in the early years to meet budget surpluses than sensible carbon mitigation.
The Energy Supply Association of Australia warned the design of the carbon price would allow the government to change the scheme in future to maintain revenue levels.(Source: SMH, March 20, 2012)
Tags Australia Carbon Tax news,
First Solar is the largest CdTe supplier to India. but Other suppliers include Abound Solar which has orders worth 10 MW in India. Its supply of modules to a 5MW project of Punj Lloyd is also backed by a $9-million US Exim Bank loan.
According to a recent report of Navigant Consulting, CdTe has been losing market share, yielding ground to CIGS. Also, CdTe has caused frowns because cadmium is toxic. Suppliers have offered to buy back the modules after their effective life is over, but still questions like "who is to guarantee this" are being raised. (Source: the Hindu Business times, March 4, 2012) Contact: Reliance Power, Shri R Kalidas, Investor Relations, firstname.lastname@example.org, www.reliancepower.co.in; First Solar, Jim Brown, President , (419) 662-6899, www.firstsolar.com; Shri R Kalidas, Investor Relations, Reliance Power, email@example.com; www.reliancepower.co.in
Tags First Solar news, Reliance Power news,
A solar-focused analyst since mid-2004 with Deutsche Bank and now Auriga, Polavarapu contends in a series of research and analysis notes that China's alleged actions against foreign domestic industries not only distort markets but also sap the power of competition to drive efficiency and innovation. Polavarapu characterizes China as a "state sponsor of predatory capitalism and asymmetric warfare" that "does not help in weeding out inefficient players but poisons the profit pool for everyone."
CASM -- founded by seven domestic crystalline silicon solar technology producers led by SolarWorld, the largest U.S. producer for more than 35 years -- filed anti-dumping and anti-subsidy trade petitions in October 2011 against Chinese solar manufacturers to halt what the petitions characterize as pervasive, systemic use of state support to injure the U.S. industry. At least 12 domestic producers have undertaken layoffs, gone bankrupt or closed plants in all regions of the country over the past two years. CASM seeks to restore legal international competition as a step toward rekindling growth of U.S. renewable-energy manufacturing and jobs. Yet, Polavarapu writes, cries of protectionism have risen from Chinese importers and the "parochial interests of the downstream" supposedly in defense of affordable solar technology. In fact, industry price statistics show that while wholesale prices have collapsed, end-user prices have fallen far less, all of which disrupts foreign manufacturers and enriches Chinese importers, but provides little benefit to end users.
Moreover, if U.S. federal government investigations into CASM's allegations result in tariffs to offset the effects of illegal dumping and subsidies, Polavarapu writes, the market will efficiently adjust as it has done annually to various changes in national demand-side solar incentives worldwide.
On Dec. 2, the U.S. International Trade Commission unanimously issued a preliminary ruling that Chinese trade practices are harming the U.S. domestic solar industry. The next step will be Commerce's preliminary determination on whether to impose import duties to offset the effects of allegedly illegal Chinese subsidies. Commerce also will rule on whether Chinese importers have mounted an evasive surge in Chinese imports; if so, importers of record would have to post bonds or cash deposits on tariffs on imports back 90 days. On March 27, the agency is scheduled to determine whether tariffs are warranted to offset the effects of alleged Chinese import pricing at artificially low prices. (Source: Coalition for American Solar Manufacturing, January 23, 2012)
Contact: Coalition for American Solar Manufacturing, www.americansolarmanufacturing.org
Tags Coalition for American Solar Manufacturing news,
According to the companies, the financing package consists of a $590 million, two-year construction loan that will convert into an 18-year amortizing loan after the start of commercial operation. The deal also includes a bridge loan and a letter of credit, totaling $135 million(CND), to finance certain costs reimbursable by Hydro-Quebec to be incurred during construction and to provide various letters of credit.
A portion of the financing is covered by a guarantee offered to the lenders by the Federal Republic of Germany through its Export Credit Agency Euler-Hermes. With this financing, and given the investments and the commitments of $153 million (CDN) by partners Boralex, Gaz Metro and Valener, the first phase of the Seigneurie de Beaupre Wind Farm is fully funded.
Lenders that participated in the club financing deal included KfW IPEX-Bank, Bank of Tokyo-Mitsubishi, Deutsche Bank, Sumitomo Mitsui Banking Corp., Landesbank Baden-Wurttemberg, Mizuho Corporate Bank, Siemens Financial Services, and Caisse de depot et placement du Quebec.(Source: Boralex, November, 9, 2011)Contact: Patricia Lemaire, Director, Public Affairs and Communications, Boralex Inc., (514) 985-1353, firstname.lastname@example.org, www.boralex.com; Marc Andre Renaud, Business Development Manager,Enercon Canada, (514) 363-7266, email@example.com, www.enercon.de
Tags Boralex news, Enercon news,
SunEdison currently has more than 500 solar energy systems deployed throughout the U.S. and Canada and 330 MW of installed solar capacity. This deployed solar base, financed predominately through bank funding, makes SunEdison one of the leading providers of solar energy to the U.S. and Canadian markets.
SunEdison continues to look for additional banking partners to finance its strong pipeline of solar projects in North America with additional opportunities available for lenders within this facility.
Terms of the final agreement were not released. (Source: SunEdison, October, 12, 2011)
Contact: Carlos Domenech, President, SunEdison, (866) 786-3347, www.sunedison.com
More Energy Overviews SunEdison news,
Auctions will be carried out over a single EU-wide platform for 24 member states, while Britain, Germany and Poland will use their own platforms as they opted out of the common system.
Several emissions exchanges are vying to win the tender for holding auctions. In July, EU countries agreed to auction 120 million Phase 3 permits in 2012 to help power companies hedge forward power sales next year. No firm start date has been set yet.
Early sales of Phase 3 permits could contribute to keeping EU carbon prices low, as supply could swell by up to 650 million units next year, compared to a rise of 110 million this year, analysts said last month.
In 2012, member states could sell up to 250 million phase two (2008-2012) permits from auctioning and new entrant reserves, while another 400 million brought ahead from the 2013-2020 period could also hit the market, according to Deutsche Bank projections. (Source: EU, Reuters, September, 14, 2011)
More Energy Overviews EUAs news, Carbon Auction news,
Analysts predicted the current surplus of allowances issued during Phase 2 of the ETS will not be cleared until 2015. As a result, prices will be lower than originally anticipated until 2014, averaging € €19/t in 2013 instead of the €23/t previously predicted, and €22/t in 2014 rather than €24/t. Due to the reduced medium-term projections, the bank has also dropped its predicted price for year-end 2020 to €28/tonne from €30/t, adding that EUAs will now trade at an average price of €24/t over the duration of Phase 3. However, the research team maintained predictions for actual emissions that will be traded over the decade at an average of 40Mt per year over 2011-20.
The Fixed Income Research arm of Deutsche Bank said the carbon market remains very fragile given the ongoing nervousness in financial markets over EU sovereign debt and the risk of the recent slowdown in EU growth turning into a double-dip recession.
The bank maintained its emissions forecasts for the coming years, but said it is now more pessimistic about how long it will take EU Allowance prices to recover. This is due to nervousness over national debt and the the supply of Phase-3 EUAs that are expected to hit the market from December 2011 to December 2012. (Source: Deutsche Bank, Business Green, September, 6, 2011)
Contact: Isabelle Curien, Deutsche Bank, (33) 1 4495 6616,firstname.lastname@example.org, www.db.com
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Earlier this year, the US EPA updated its methodology for estimating methane emissions from natural gas systems, generating concern that the new, higher methane figures could minimize the GHG advantage that natural gas is seen widely to have over coal. Applying the EPA's new estimates, the life-cycle GHG footprint of natural gas-fired electricity increased roughly 11%, according to the study.
The authors stress that although methane emitted during natural gas production might not make natural gas-fired electricity dirtier than coal, it can and must be mitigated immediately.
The study points out that regulatory and technological tools to reduce methane emissions are being demonstrated in some US states and by some companies. Although reducing methane emissions has been largely voluntary to date in the United States, new EPA rules could require the natural gas industry to measure and report its GHG emissions and to use control technologies that will significantly reduce associated methane emissions as early as 2012.
The study finds that methane emissions during natural gas production, processing, transport, storage, and distribution can be mitigated now at moderately low cost using existing technologies and best practices.
Such capture potential presents a commercial and investment opportunity that would further improve the life-cycle GHG footprint of natural gas. (Source: Worldwatch Institute, August, 29, 2011)
Access study HERE
Contact: Christopher Flavin, President,Worldwatch Institute, (202) 452-1992, www.worldwatch.org
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In March 2010, Iberdrola acquired 100% of the construction rights to the Wikinger offshore complex from the joint venture between DEE Deutsche Erneuerbare Energien GmbH (Deutsche Bank Group) and Ventotec GmbH (GHF-Group). At the time, the plant had already obtained permits from the German government to install floating wind turbines. But, after an in-depth analysis of the project and the site, Iberdrola decided it was better to use large turbines on fixed structures directly anchored on the sea floor.
Once the necessary authorizations have been obtained , the company intends to present the final plans for the offshore project in early 2014. Construction is projected to begin in 2015 for completion in 2016. (Source: Iberdrola, August, 29, 2011) Contact:
Contact: Jan Johnson, Iberdrola Renewables, (503) 796-7070, email@example.com
More Energy Overviews Iberdrola news, Offshore Wind news,
Although Deutsche Bank denies the accusations, one of the first defendants is said to have suggested that the bank had left the door open for tax evasion when it established its emissions trading division, in effect blaming the Bank for his misdeeds. Deutsche Bank also insisted that while its employees may stand trial, the bank itself is not under investigation.
The trial is expected to run until March 2012, and will determine if the defendants participated in carousel fraud, in which carbon traders collect tax and disappear before turning the tax in to authorities.
European police suspect that fraud in the carbon market cost national exchequers up to €5 billion until a crackdown and tightening of the rules governing carbon trading closed the loopholes on VAT payments. (Source: Deutsche Bank, Business Green , August, 24, 2011)
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At the mid-point of the proposed range, Cathay Industrial Biotech will command a market value of $610 million. Cathay Industrial Biotech, which was founded in 1997 and booked $144 million in sales for the 12 months ended March 31, 2011, plans to list on the NASDAQ under the symbol CBIO. Morgan Stanley, Deutsche Bank Securities, and Jefferies & Co. are the lead underwriters on the deal, which is expected to price during the week of August 8. (Source: Cathay, August, 1, 2011)
Contact: Yijun Du , VP, Sales, Cathay Industrial Biotech, +86 21 50801916, www.cathaybiotech.com
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