The Export-Import Bank of the United States (Ex-Im Bank) has authorized a pair of direct loans to two wind power projects in Peru for the export of wind turbines manufactured in Hutchinson, Kansas, and Fort Madison, Iowa, by Siemens Energy Inc. The financing, almost $65 million in total, represents Ex-Im Bank’s first renewable-energy transactions in Peru and will support approximately 800 U.S. jobs in Kansas and Iowa, according to bank estimates derived from Departments of Commerce and Labor data and methodology. Additionally, 20 percent of each transaction should provide indirect support to small-business exporters.
Finavera Wind Energy Inc. has announced they have signed an agreement to acquire 100% of the equity of Solar Alliance of America, Inc., a corporation under the laws of California in a transaction valued at $6 million USD. Under the terms of the agreement, Finavera will acquire Solar Alliance for $4 million USD in cash and $2 million USD in stock, based on the volume weighted average 20-day trading price of Finavera following the closing of the transaction, with a floor price of not less than $0.21 per share. This represents a premium of approximately 45% over the Company’s previous closing price.
Investment into the UK’s distributed power generation market, which comprises wind, solar Photovoltaic (PV) and combined heat and power installed capacity, will witness a significant decline from almost $2.5 billion in 2013 to $939 million by 2019, says research and consulting firm GlobalData. “Policy Amendments Leave the UK Distributed Power Generation Market in Disarray,” states that investment, which will fluctuate annually between 2013 and 2015, will begin declining from 2016 until the end of the forecast period, as a result of various anticipated policy amendments.
Solar Microgrid of St. Louis was recently selected to lead the solar contractor for the City of Chicago’s solar program – called “Solar Chicago” – that Enables homeowners in the Chicago area to purchase solar at the group-discounted rate. The Chicago program is half over, and is expected to double the original target of 750 registrants.