The Asia Report: Brightsource and Alstom Target Australia and India with New Funding

At the same time, Brightsource raised an additional $80 million in equity financing led by Alstom and California-based venture capital company VantagePoint Capital Partners – its two biggest backers.

“With these funds we will continue to build solar power plants for our U.S. customers, while significantly increasing our presence around the globe,” said John Woolard, chief executive of BrightSource in a statement.

Concentrating solar power (CSP) projects have stalled in recent years because developers opted for cheaper PV installations as the price of equipment plunged. But CSP is considered essential to the world’s clean energy future since it provides heat storage and the ability to dispatch energy when required to meet peak demand.

According to the International Energy Agency, solar energy, including both CSP and photovoltaics (PV) could account for 25% of global electricity by 2050 and cover a third of global energy demand after 2060. CSP alone could supply 11.3 percent of the world’s electricity by 2050, the IEA said.

In Australia, Brightsource was an applicant in the federal government’s Solar Flagships program, but failed to make the shortlist. However, the company considers Australia to be a concentrating solar hotspot.

“We strongly believe in the development and future competitiveness of the solar tower technology,” said Jerome Pecresse, Alstom Renewable Power president. “This new investment reinforces solar thermal power’s position at the heart of Alstom’s strategy which is to provide leading sustainable renewable power solutions also spanning hydro, wind, geothermal, ocean and biomass.”

The financing also included existing backers Draper Fisher Jurvetson, DBL Investors, Goldman Sachs, California State Teachers’ Retirement System and the venture capital units of Chevron and BP. It comes just six months after BrightSource withdrew its IPO registration, citing adverse market conditions.

IN THE NEWS

Japan’s Softbank to develop up to 300MW wind power in the Gobi desert: Softbank, the Japanese mobile phone company, plans to develop wind power projects in Mongolia’s Gobi desert. SB Energy Corp, Softbank’s clean energy unit, will set up a venture with Mongolia’s Newcom as early as October to conduct feasibility studies on wind power generation. The venture will assess a site in the Gobi that may have a capacity of as much as 300 MW.

Korea’s Hanwha Q.CELLS becomes world's third largest solar manufacturer: With the purchase of bankrupt German solar cell manufacturer Q.CELLS, Hanwha now claims ownership of a total of 2.3GW of manufacturing capacity, making it the third largest solar manufacturer in the world. In addition to acquiring 200MW cell and 120MW module manufacturing facilities in Germany, Hanwha has also acquired 34 Q.CELLS patents and 1,225 employees.

Former IEA chief Tanaka doubts Japan's renewables goal: Japan will need to keep nuclear power in its energy mix as renewables are too costly and the country’s electricity grid is too decentralized, says Nobuo Tanaka, a former director of the International Energy Agency (IEA). Tanaka, now a global associate for energy security and sustainability at the Institute of Energy Economics in Japan, told the Asia Future Energy Forum in Singapore that a low-nuclear scenario will be “a huge cost and loss of energy security” for Japan.

Ocean Power Technologies and Mitsui to steer wave device to possible Japan launch: Hydrokinetic power developer Ocean Power Technologies has received a $900,000 contract from Japan's Mitsui Engineering and Shipbuilding to further develop its buoy generation system for application in Japanese sea conditions. OPT says the contract will allow it to continue analyzing methods of maximizing its PowerBuoy units through modeling and wave tank testing.

Australia’s renewable energy on target for billions in investment: An independent report from strategic consultancy SKM MMA shows that Australia’s 20 percent renewable energy target has delivered $18.5 billion in investment, with the potential for $18.7 billion more if the policy is retained in its current form. On Friday, the Climate Change Authority recommended the target remained unchanged, after conducting a review.

ON THE HORIZON

Indonesia seeks big jump in renewables: Renewable sources will provide Indonesia with as much as 25 percent of its electricity by 2025, up from around 7% today, Djadjang Sukarna, the secretary of the nation's renewable energy directorate, said. The country plans by 2025 to have increased annual electricity generation from renewable sources to around 99 million tons of oil equivalent from around 10 million tons of oil equivalent today, Sukarna told Dow Jones Newswires.

Asia-Pacific energy storage market worth $12 billion in 10 years: A Pike Research report predicts that the Asia-Pacific energy storage market will be worth $12 billion by 2022, with a capacity of 25 GW. The 10 year Energy Storage Asia Pacific report predicts an annual compound growth rate for utility-scale battery storage of 135% a year until 2017, and a further 33% a year from 2017 to 2022.

A DEEPER LOOK

On an island crowded with clean energy movers: David Green, chief executive of the Clean Energy Council, writes Australia has some of the best sunshine, wind and waves in the world, but it is certainly no Robinson Crusoe, alone on his island, when it comes to promoting a shift towards clean energy. Australia's renewable energy target continues to play a critical role in helping Australia make the transition to a low-carbon economy. It is the most efficient, low-cost way to source 20 percent of energy from renewable sources by 2020 and it stands to deliver Australia more than $30 billion of investment and tens of thousands of new jobs.

Cloud hovers over China’s solar industry: Leslie Hook of the Financial Times writes that times are tough for Shi Zhengrong, the founder of Suntech, the world’s biggest solar panel manufacturer. He was once one of the richest men in China. Now his empire is in shambles.

QUOTE OF THE WEEK

"The unfortunate idea that floats around - that countries should focus on poverty reduction but don't really have to be too concerned with the environment at the early stages of development, get rich and then clean up the environment - this will not do” -- Jeffrey Sachs, head of the Earth Institute at Columbia University

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The need for clean technologies underscore the recent blackouts in India

Have not only forced the recent failures of India's electricity network, more than 600 million people without survive power - have proved they, that the need for massive public and private investment of India in clean technologies and infrastructure.

While international audiences about India's problems with its electricity grid for the first time hear can be, those of us know living in India only too well of our country fight our rapidly growing population and supply power to the economy. In fact Indians was long ago acclimated to parallel power outages and numerous shops and apartments installed generators have backup to deal with them. In an attempt to increase the amount of current available India recently brought several new coal-fired power plants on line. A combination of the inadequate power grid infrastructure and a lack of available coal was limited however by the effectiveness of these plants.

The most recent, massive power outages show that the time for such emergency has passed measures. India's economic growth and ecological future depends on how quickly the nation from a power supply based on fossil fuels to a clean technology can move. Even before the power failure was India's outdated power supply violate its economy. India's Planning Commission estimated that outdated power grid of the country has significantly reduced the international competitiveness of companies of India and India's growth of 1.2% reduces.

India needs with environmental concerns new coal mines in areas already polluted and energy policies driven by political current procedure requires new sources of energy, the power of the next generation of its entrepreneurs rather than limit practicality.

Fortunately-based and foreign companies are well positioned the clean technology and renewable energy that you so desperately needs the some India to India. Companies such as me, Flareum technologies, produce already products such as solar powered water pumping, ATM, domestic community cooking systems, and domestic and industrial size air conditioners. Other companies, such as BrightSource and General Electric, provide the large solar and wind power plants and have the know-how upgrade India's ageing power grid to meet them. Still others create the green building technologies and transport systems India need to move and House its growing population, especially the booming middle class. Explore these solutions must be as India's energy and power problems at present enormous obstacles to continued growth of the nation. In addition, we must seek innovative solutions to solve our infrastructure problems really, from the United States and elsewhere.

India has the resources - wind, Sun and above all people - a powerhouse of tomorrow's clean technology industry. Without proactive decisions of his officials and Government but forward growth lags other Nations during India afterwards. It is vital for India's Central, State and local governments to promote the development of clean technology solutions, additional economic incentives for transitions to create path from fossil fuels and driven to India on the way to a future of sustainable energy.

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Coal India switches to new pricing mechanism of Jan

Coal India Ltd is believed that the international gearing up recognized gross calorific value (GCV) to introduce-based mechanism by January 1, sources of prices. The change was advocated by the Union coal Ministry in October of this year.

The new system replaces the existing value seven useful heat (UHV) based class by a wider range of available, which each classified by a narrow bandwidth of GCV. An Indian nomenclature, developed in the 1970s defined UHV coal energy (kilo calories) per kilogram after discounting of moisture and ash content.
Revenue impact

The top management of CIL is previously announced that the new product classification revenue neutral, such as coal under any existing class offered are reclassified in such a way, so that the average price remains the same. Market sources, but suggest that a thin might "impact took up the new system" on the important coal.

Because calories per kg, different existing class by a wide range of 600-1,100 kg consumers - including the energy sector — in connection with better mines under any of this class can feel the pinch. However, should the costs of fuel sector as a whole does not significantly affected are.

According to sources, a solid proposal for conversion on GCV-based prices with effect from 1 January before the Board of Directors of the company in late next week can be placed.
Sector power factor

It may be mentioned that CIL supported conversion on GCV-based sale since 1998. Any such attempt - the latest in 2008-was in the face of strong opposition from the energy sector, which expected motive behind the move to a pricing.

"In view of the poor track record CIL in the provision of quality coal, we not only the ability of the company to implement the new system to the satisfaction of consumers;" We doubt the company intention behind such doubts, "said big business line. a senior official who makes private sector"

British reach deal package with India

The United Kingdom and India is around 1 billion ? ($ 1.6 billion) in commercial offerings present, days after BP, the oil giant of India won approval to buy $7.2 billion in investments in oil and gas blocks owned by reliance industries.

The British Chancellor of the Exchequer, George Osborne and his Indian counterpart, Pranab Mukherjee, present the agreement Monday in London after the regular discussions that both countries every year to keep. The talks seek also to improve the financial partnerships and ways to support companies that try to build a presence in each country.

"The United Kingdom now make the largest foreign investment in India is" Mr Osborne Sunday said in a statement from his Office published. "British companies to compete with the best in the world, although some skeptical voices, and it is good for growth in the United Kingdom".

Mr Osborne and Prime Minister David Cameron are trying to increase trade in India, China and Brazil and break British dependency on finance as a source of income. The BP deal as much as $20 billion can be achieved, said the Treasury.

Five months after the announcement of the agreement, BP said at a 30 percent stake 21 of 23 blocks of reliance proposed take is, S. Jaipal Reddy, the Indian Oil Minister after a cabinet meeting in New Delhi last week.

Last year, BP signed to a contract from Brazil and sealed a partnership with Cnooc, the largest offshore oil producer in China to South China Sea licences.

When the reliance deal approved was announced in February, analysts. The wave of unrest from North Africa to the Persian Gulf made countries such as India and Russia more attractive to multinational oil companies look. And BP Chief Executive, Robert Dudley, was eager to grow to find new ways for BP, after it was forced, assets to pay for oil spill sell last year's Gulf of Mexico.

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S Korea, India sign nuclear cooperation pact

SEOUL: South Korea and India cooperation agreement a nuclear energy Monday after a year of negotiations, paving the way for Seoul to export nuclear power plants in the rapidly developing nation.

The Pact signed after summit between President Lee Myung-bak and Indian President Pratibha Patil is conversations, a request and reports to the legal basis is South Korea's participation in India's nuclear power plant construction project, Yonhap News Agency.

India now has 20 electricity power stations in operation, six under construction and is planning to create about 40 more by 2032.

Russia, France, and the United States have plant construction projects in India's nuclear power active.

Seoul National Korea electric power Corp (KEPCO) has tried to get power plant construction market cooperation with nuclear power Corporation of India limited in India's nuclear.

South Korea has strengthened efforts were to export nuclear power plants, because Korean company a 18.6 billion US dollar project end of 2009 four nuclear power stations in the United Arab Emirates build rivals after beating us, Japanese and French won.

While the talks Summit asked Lee Patil for India's cooperation for South Korea in the nuclear power plant business to get President Office said in a statement. Lee also hope for the participation of the Republic Korea expressed India's infrastructure construction projects, it said.

The nuclear Pact was one of the most notable results of Monday's summit talks.

Patil arrived in Seoul on Sunday for a four day state visit, sculpture by Indian poet Rabindranath Tagore contains also a visit to a bronze bust, which was built recently in central Seoul by the two countries to the 150th anniversary of the birth of the late poet mark.

She want to visit also a research complex of Samsung Group.

While the talks Summit shared Lee and Patil which considers that the cooperation between the two countries have improved in all areas and expand cooperation in political, security and defence industries, agreed was the Presidential Office statement said.

Reflects changes in the environment trade since trade pact entered into force in January last year the statement said they agreed the free trade agreement (FTA) between the two countries, the comprehensive economic partnership agreement (CEPA), to improve.

The two sides work together agreed, the statement said negotiations on an aviation Pact, complete a maritime shipping agreements and double taxation prevention Treaty at an early stage in such a way that is both Nations benefit.

The heads of State and Government agreed, closely cooperate, on a series of events to mark the year of cultural exchange between the two countries this year and projects to promote the public understanding and perceptions of each other between the two countries perform, it was said. -Bernama

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Republic of Korea, India sign nuclear cooperation pact

25 Julai'a, 2011 13: 00 PMSouth Korea, India signs nuclear power cooperation PactSEOUL, cooperation agreement July 25 (Bernama)-South Korea and India a nuclear energy Monday after a year of negotiations, paving the way for Seoul to export nuclear power plants in the rapidly developing nation.

The Pact signed after summit between President Lee Myung-bak and Indian President Pratibha Patil is conversations, a request and reports to the legal basis is South Korea's participation in India's nuclear power plant construction project, Yonhap News Agency.

India now has 20 electricity power stations in operation, six under construction and is planning to create about 40 more by 2032.

Russia, France, and the United States have plant construction projects in India's nuclear power active.

Seoul National Korea Electric Power Corporation (KEPCO) has tried to get power plant construction market cooperation with nuclear power Corporation of India limited in India's nuclear.

South Korea has strengthened efforts were to export nuclear power plants, because Korean company a 18.6 billion US dollar project end of 2009 four nuclear power stations in the United Arab Emirates build rivals after beating us, Japanese and French won.

While the talks Summit asked Lee Patil for India's cooperation for South Korea in the nuclear power plant business to get President Office said in a statement. Lee also hope for the participation of the Republic Korea expressed India's infrastructure construction projects, it said.

The nuclear Pact was one of the most notable results of Monday's summit talks.

Patil arrived in Seoul on Sunday for a four day state visit, sculpture by Indian poet Rabindranath Tagore contains also a visit to a bronze bust, which was built recently in central Seoul by the two countries to the 150th anniversary of the birth of the late poet mark.

She want to visit also a research complex of Samsung Group. While the talks Summit shared Lee and Patil which considers that the cooperation between the two countries have improved in all areas and expand cooperation in political, security and defence industries, agreed was the Presidential Office statement said.

Reflects changes in the environment trade since trade pact entered into force in January last year the statement said they agreed the free trade agreement (FTA) between the two countries, the comprehensive economic partnership agreement (CEPA), to improve.

The two sides work together agreed, the statement said negotiations on an aviation Pact, complete a maritime shipping agreements and double taxation prevention Treaty at an early stage in such a way that is both Nations benefit.

The heads of State and Government agreed, closely cooperate, on a series of events to mark the year of cultural exchange between the two countries this year and projects to promote the public understanding and perceptions of each other between the two countries perform, it was said.

-BERNAMA

Kami Menyediakan langganan
News Melalui Perkhidmatan Newswire.

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India approved reliance-BP deal $7.2 billion

NEW DELHI - India Friday approved proposed $7.2 billion sale of assets to BP PLC reliance Industries Ltd., paving the way for the u.k.-oil Giants biggest venture in the South Asian nation.

Ben Stanton all/Agence France-Presse/Getty Images reliance industries Chairman and Managing Director Mukesh Ambani addresses one press conference with BP Chief Executive Bob Dudley and Chairman Carl-Henrik Svanberg (not shown) in the Centre of London on 21 February 2011.

Companies have been waiting for approval by the Federal Government controlled agreed since February as reliance, by billionaire Mukesh Ambani a 30% stake in BP 23 oil and gas blocks for $7.2 billion plus another $1.8 billion selling exploration success combined. The business encompasses the D6 block in the Krishna Godavari basin, India's richest gas find so far, and reliance already $2 billion received from BP.

Oil Minister Jaipal Reddy said that his Ministry is the Cabinet Committee on Economic Affairs, to approve the offer for 21 blocks, since there were some technical problems on two non-producing units. The Ministry can in future grant or refuse consent on the two blocks, he added.

"This is one of the large foreign investments in the history of India," said Mr Reddy. "This transaction means not only investments of $7.2 billion by a foreign company in India, it means also the induction of vast knowledge on the India's hydrocarbon sector".

Under the February agreement, BP and confidence create an equally-owned joint venture for the procurement and distribution of natural gas in India. The venture requires no approval of the Government.

BP Chief Executive, Robert Dudley, said the energy giant is hoping that business in a matter of weeks to complete.

Dependency not immediately comment on the announcement.

Investments in future develop Indian assets bring your total payments on $20 billion, BP previously had said.

The deal continues to increase exploration BP access to new hydrocarbon resources and markets in line with its strategy and access to new exploration, especially as it still resume, drilling in the Gulf of Mexico after the last year's oil spill areas it.

Trust drilling is know-how to increase gas production expected by BP "Deepwater" by to win. The company D6 block expects that boost, but more technical and geological problems led India's gas output from the field of the eastern coast of below 50 million metric standard cubic metres per day of 60 MMSCMD last year.

Depending on the market valuation has a hit due to, including the decline in the production of gas emitted. Its shares closed at 873.60 rupees ($19.67) before the announcement on the Bombay Stock Exchange 1.5%. The benchmark index closed up 1.6%.

-Eric Yep in Mumbai & Alexis Flynn in London contributed to this report.

Write to Rakesh Sharma at the rakesh.sharma@dowjones.com and Mukesh Jagota at mukesh.jagota@dowjones.com

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