Kazakhstan adopted a new feed-in tariff in July 2014. The EBRD has worked with the Ministry of Industry and New Technologies and the Ministry of Environmental Protection to help develop various aspects of the new legislation. The tariff is set at 34,61 tenge/kWh (approx. 14 eurocents), and will be fully indexed/adjusted for inflation annually. The term of the Power Purchase Agreement (PPA) is 15 years. With the new tarriff in place, PrimeSolar is developing a 100 MW project at Jambyl Province. Construction is scheduled to begin in April of 2015.
CHS Inc has announced that Mark Palmquist, executive vice president and chief operating officer, Ag Business, will leave the organization effective Aug. 31, 2014, to assume the top leadership role with an Australian grain company. Current CHS strategic leadership team member Shirley Cunningham will assume a new role as executive vice president and chief operating officer, Ag Business and Enterprise Strategy. Palmquist will become managing director and chief executive officer of GrainCorp, Sydney, Australia, on Oct. 1, 2014.
While plug-in electric vehicles (PEVs) are now available in all U.S. states, most Canadian provinces and territories, and in every Western European country, they are not readily accessible in the Asia Pacific region. That will change over the next several years as Asia Pacific becomes the largest market for PEV sales. According to a recent report, “Electric Vehicle Geographic Forecasts,” from Navigant Research, sales of PEVs in North America, Western Europe, and Asia Pacific will grow from 352,000 annually in 2014 to 1.8 million in 2023.
STR Holdings, Inc. has announced its entry into a strategic relationship with Zhenfa Energy Group Co., Ltd., a leading developer of solar PV power stations based in Chongqing, China. The contemplated transactions with Zhenfa, which are subject to approval by STR stockholders and satisfaction of other customary closing conditions, include the sale of shares of common stock representing a 51% interest in STR (based on current shares outstanding) for an aggregate purchase price of approximately $21.7 million, the payment by the Company of a special dividend in the aggregate amount of approximately $22.6 million to STR stockholders of record after the closing date (excluding Zhenfa), and the execution of a Sales Service Agreement pursuant to which Zhenfa will, among other things, help drive sales of STR encapsulant to China-based solar module manufacturers.