Fiberight LLC has moved a step closer to constructing a $15-million facility designed to grab the organic material in garbage to convert into ethanol coined “trashahol,” at the company’s ethanol plant now being renovated in Blairstown, Iowa. The Marion City Council agreed to provide the Maryland-based firm with an economic-development incentive worth up to $850,000 to help it build its 50,000-square-foot facility in Marion’s “eco-industrial” park. The money will come from new property taxes generated from Fiberight’s investment, a common economic-development incentive called tax increment financing or TIF.- Canadian Solar Inc. has announced that The Manufacturer’s Life Insurance Company has agreed to provide approximately C$50.5 million in construction and term financing to Canadian Solar for the Company’s Mighty Solar power project located in Ontario, Canada. The Mighty Solar project will be acquired by Concord Green Energy Inc. after Commercial Operation. Bowmont Capital and Advisory acted as the Financial Advisor to Concord. Construction of the 10 MW (AC) Mighty Solar power project commenced and connection is expected in Q2 2014.
- Algonquin Power & Utilities Corp. has announced the closing of the acquisition of the remaining 40% of the 400 MW wind power portfolio in the United States from Gamesa Wind US, LLC for total consideration of approximately US$115 million.
- EverStream Energy Capital Management LLC has announced that a group of investors, led by EverStream and Claro y Asociados and including SunEdison, has recently closed on the 50.7 MWp solar power plant (known as “San Andres”) located in the Atacama Region of Chile, near the city of Copiapo. SunEdison developed the San Andres project, which reached commercial operation on March 14th, 2014, and will retain a partial equity position. It is the largest merchant solar power plant in Latin America and one of the largest such plants in the world.
