Finavera Wind Energy Inc. has closed the previously announced acquisition of Solar Alliance of America. Under the terms of the Share Purchase Agreement, Finavera has acquired 100% of the equity in Solar Alliance for 11,915,238 shares of the Company and contingent payments of up to $4 million USD in cash comprised of up to four installments of $1 million USD. The cash payments are staged and contingent upon Solar Alliance meeting quarterly EBITDA targets.- DTE Energy will install smart, solar-powered trash compactor and recycling units in its downtown Detroit neighborhood to help make the city cleaner and greener. The Bigbelly units, the first solar-generated compactors in the city of Detroit, are expected to arrive this summer. DTE will install seven of the units which collect and compact trash on site and also gather aluminum and plastic containers for recycling. The pilot program supports the company’s Energize Detroit neighborhood revitalization initiative while helping to protect the environment.
- Sunrun has announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not been determined. Sunrun has applied to list its common stock on the NASDAQ Stock Market under the ticker symbol “RUN”.
- SunPower Corp. has announced a major new philanthropic initiative in partnership with GRID Alternatives. The Solar Futures program will expand on GRID Alternatives’ work in high schools, providing both classroom and hands-on solar training to K-14 students, with a focus on high school juniors and seniors. SunPower is donating 1 megawatt of high efficiency solar panels and inverters.
