WESTERN WIND ASKS SHAREHOLDERS TO SNUB ALGONQUIN'S BID
Oct 11 (Reuters) - Western Wind Energy said it received an unsolicited takeover bid from Algonquin Power and Utilities for at least C$150 million ($145.5 million) and urged its shareholders to reject what it called a "low-ball" offer.
In a separate statement, Algonquin said it had expressed "non-binding" interest in discussing a potential takeover with Western Wind's board of directors but denied making a formal bid.
ITALY EGP STARTS BUILDING 150 MW U.S. WIND FARM
MILAN, Oct 11 (Reuters) - Italy's biggest renewable energy company, Enel Green Power , has started construction of a 150-megawatt wind farm in Oklahoma in the United States in a $250 million project, the company said on Tuesday.
The wind farm, located in Kiowa County and Washita County, Oklahoma, will generate about 630 million kilowatt hours a year, enough to meet power needs of about 55,000 U.S. households once it is fully operational, the company controlled by Italy's biggest utility Enel said in a statement.
JINKOSOLAR RESUMES PRODUCTION AT TROUBLED HAINING FACILITY
Oct 11 (Reuters) - JinkoSolar Holding Co said it had resumed production at its troubled eastern China facility, which has an annual capacity of 1100 megawatt.
The Haining facility, which makes photovoltaic products, was temporarily shut down on Sept. 17 following violent protests over toxic wastes released from the plant that polluted a nearby river.
CONGRESS WATCHDOG PROBES SOLAR LOANS AFTER SOLYNDRA
WASHINGTON, Oct 10 (Reuters) - A top Republican congressional watchdog wants the Energy Department to turn over documents and emails about $4.7 billion in loan guarantees for four solar projects approved right before a Sept 30 deadline.
The last-minute approvals of the projects raise fears that "the evaluation of loan guarantees may have been rushed in order to meet a deadline," said Darrell Issa, chairman of the House Oversight Committee, in a letter to Energy Secretary Steven Chu.
SOLAR INSTALLERS THRIVE AS PANEL COSTS SLIDE
Oct 10 (Reuters) - A steep drop in the price of solar panels has been a boon to the companies that install the renewable energy systems on rooftops, and it could set off a wave of consolidation in the sector.
Those installers number in the hundreds across the country, focusing mostly on residential and small commercial market rooftop arrays rather than large-scale multi-megawatt systems under development in the U.S. Southwest.
TOUGHER TO BUILD NORWAY GRID WITH LOWER MARGINS
OSLO, Oct 10 (Reuters) - Lower operating margins on Norwegian power lines make it more difficult to conduct maintenance and build new lines, which could lead to delays, the head of the Norwegian power grid operator said.
Auke Lont, chief executive of Statnett, also said the high water levels at the reservoirs of Norwegian hydropower stations, which together with Sweden's provide about half of the Nordics' power supply, boded well for the coming winter, when power demand peaks.
GE INVESTMENT PUTS GREENKO'S WIND PLANS ON TRACK
LONDON, Oct 10 (Reuters) - London-listed clean energy producer Greenko said a $50 million investment by a unit of GE will put it on track to achieve 1 gigawatt (GW) of operational wind capacity by 2017.
A division of GE Energy Financial Services will invest the cash to support development of 500 megawatt (MW) of Greenko's wind energy projects, the company said on Monday.
GREEN ENERGY SECTOR CHEERS ONTARIO ELECTION RESULT
Oct 7 (Reuters) - Ontario's renewable energy industry breathed a sigh of relief on Friday and manufacturers looked forward to a surge in demand after voters in the province returned the Liberal Party to power, albeit without a majority.
Shares in renewable energy companies rose on expectations of an end to an industry slowdown caused by months of uncertainty over the future of the Liberal-sponsored green energy plan and its generous feed-in tariff (FIT) scheme for renewable power developers.
PETRA SOLAR CLOSE TO MIDDLE EAST ACQUISITION -CEO
Oct 7 (Reuters) - Solar services company Petra Solar is close to sealing an acquisition of an undisclosed company in the Middle East and is hiring across the globe as part of its push to build an international customer base, its chief executive said.
The privately held company, based in South Plainfield, New Jersey, declined to disclose more about the deal.
Petra, which equips panels to monitor the electrical grid and communicate data to utilities, has a $200 million contract to outfit 200,000 utility and streetlight poles with solar units for a Public Service Enterprise Group Inc utility.
CHILE COURT LIFTS SUSPENSION ON HIDROAYSEN DAM WORK
SANTIAGO, Oct 6 (Reuters) - A Chilean appeals court lifted a suspension order on Thursday that will allow work to proceed on the $3.5 billion HidroAysen hydropower project, which aims to prevent energy shortages.
The project has been the target of massive protests due to alleged environmental concerns.
NEXTERA'S COMPETITIVE POWER UNIT CHIEF RESIGNS
Oct 5 (Reuters) - NextEra Energy Inc , the largest U.S. renewable energy producer, said the chief executive of its competitive power-generation unit is leaving the company, and it named its chief financial officer to head the unit.
Mitch Davidson has been at the helm of the competitive power unit, NextEra Energy Resources, since mid-2008.
CITIGROUP DOWNGRADES YINGLI TO SELL
Oct 5 (Reuters) - Citigroup downgraded Yingli Green Energy to "sell" from "hold," citing soft solar demand until the second half of 2012, and cut its price targets on two other Chinese solar companies.
"Our polysilicon supply/demand model shows significant oversupply in the coming years meaning pricing should continue to decline," analysts led by Timothy Arcuri said in a note to clients.
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