Wanxiang wins the U.S. Government approval buy battery manufacturer A123

Approval from CFIUS, was the last hurdle that had to be overcome in order to conclude the transaction Wanxiang, as he is known. The Federal Interagency Group, led by the Treasury Department was selling review, after members of Congress allow national security concerns to get a foreign competitor with State protection technology developed.

Wanxiang, the bankruptcy court approval of the acquisition Dec. 11 completed who said in an e-Mail yesterday, pin NI, President of the US unit Wanxiang America Corp., buying won,. Wanxiang America, the A123s purchased automotive, grid, and commercial assets for approximately $256,6 million. A123 and Wanxiang tries to placate Congressional anxiety by excluding the battery manufacturer Government shops out of the deal at Woodridge, Illinois-based Navitas Systems LLC for about 2.25 million $ was sold.
"We are pleased the Government has completed its review and has with us the go-ahead to this transaction complete," NI said in a statement. "The future is bright for A123. It is a company with extraordinary talent and potential and Wanxiang America is committed to its long-term success and the continued existence of their U.S. operations."

Thing itself sunk
The Waltham, Massachusetts-based battery manufacturer bankruptcy in October after a previous agreement with Wanxiang in the midst of Congressional Republicans allow reluctance, sale to a Chinese company sunk has been filed. A123 listed assets of $459,8 million and debt of $376 million status: Aug. 31 in court documents.

"Provided by CFIUS has nothing my opinion after changing the core technology from A123, developed" and related intellectual property "be separated fields of business can along A123s" said representative Bill Huizenga, a Republican who represent Michigan 2nd Congressional District, in an e - sent statement. "American taxpayers not technology, which in turn are used to compete against American companies should be medium", he said, adding that he in the legislation funded "sensitive technologies" for foreign companies in the future to prevent search sales by the taxpayer.
Federal grant

A123, received a federal grant of more than $249,1 million and only $ 132 million $ for two plants in Michigan, instead of a December auction where Wanxiang beat a joint bid by Milwaukee-based Johnson Controls Inc. and Tokyo-based NEC Corp.
"The Department of energy recovery Act grant for A123 was used for the construction of brick and mortar advanced battery production facilities at two sites in Michigan," Bill said Gibbons, a spokesman for the Department in one via e-Mail statement. The funding for research and development of battery technology of the company used were not, he said.

"With the purchase of these assets of the Department of energy request, which includes the equipment and devices that are part of stay paid in Michigan Recovery Act and continue to operate," generating job opportunities for American workers, Gibbons said.
Joint venture

In the context of the purchase, Wanxiang get seat in Hangzhou, China, A123s, plant in China and its stake in a joint venture with Shanghai Automotive Industry Corp., Shanghai advanced traction battery systems co. called cathode powder used in addition to the battery technology in Fisker Automotive Inc. Karma sedan.

Fisker, A123s main customer, said that it was expected the sale of the company's Michigan plant, so it plug production of the $103,000 - sedan could resume in karma.
A123, whose automotive-Geschaft delivers electric car batteries in about a dozen customers, has facilities in Michigan cities of Livonia and Romulus.

The grid business is focused on power generation, transmission and distribution while the commercial Division develops products for industries such as telecommunications, industrial robotics and power tools, according to the court papers. A123 has worked with the Government on portable power solutions, unmanned aerial vehicles, pulsed power weapons, as well as small energy cell for remote devices.
The case is in terms of A123 Systems Inc., 12-12859, U.S. bankruptcy court, district of Delaware (Wilmington).

Copyright 2013 Bloomberg

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SolarReserve Gets Approval for 150-MW CSP Plant in Maricopa County, AZ

Last week, SolarReserve announced that its newest undertaking, the Crossroads Solar Energy Project, had been unanimously green-lighted by the Board of Supervisors of Maricopa County, Arizona. Now that it’s officially received the Special Use Permit (SUP) required to move forward, SolarReserve is one critical step closer to realizing the construction and eventual operation of a solar thermal plant smack in the middle of some of the best real estate in the world for sunlight.

The project, which will be located on a plot of privately owned land just west of Gila Bend in Maricopa County (about 75 minutes southwest of Phoenix), will bring approximately 150 megawatts of capacity from concentrating solar power (CSP) technology and another 65 megawatts from solar PV panels. Energy storage for on-demand power delivery through non-daylight hours will be made possible through SolarReserve’s molten salt power tower technology.

“We’re using the leading technology in energy storage,” said SolarReserve CEO Kevin Smith, whose company is currently building a 110-MW solar plant near Tonopah, Nevada that will also store power using molten salt.

Molten salts, which can be heated to extremely high temperatures and are capable of retaining that heat for extended periods of time, can be used to store thermal energy. This enables solar plants to churn out fresh electricity, even long after the sun has set.

“The Tonopah project will have 10 hours of energy storage utilizing our molten salt power tower technology,” Smith said. “When it goes into operation at the end of next year, it will be the largest and the first commercial-scale facility with a molten salt power tower in the world.” Smith added that once completed, the Crossroads Solar Energy Project in Arizona will utilize the same technology to offer similar after-sundown clean energy production.

Smith said he expects the Crossroads project to not only produce 500,000 MWh of electricity per year, but to also produce jobs in Maricopa County. During the building phase, which is likely to begin sometime in 2014, the project will create approximately 450 jobs during peak construction. The majority of those jobs will be filled by local talent.

“We expect that about 75 percent of the workforce will come from Arizona contractors and workers,” Smith said. Looking further down the line, Smith estimates that direct and indirect supply chain jobs created by the Crossroads project will number between 4,000 and 5,000.

The Crossroads Solar Energy Project has an estimated price tag of approximately $600 million to $700 million. Smith said the next step in the process is to secure a Power Purchase agreement, and that SolarReserve is in discussions with “a number of major Arizona players” to that end. “The project has the ability to get into the California markets as well,” Smith said, “so we’re having discussions with utilities in both Arizona and California.”

The project’s construction timeframe will mirror that of its Tonopah counterpart, and will take approximately 30 months from start to finish. Smith estimates that the majority of 2013 will be spent in an effort to secure a Power Purchase Agreement, with construction likely beginning in 2014 and full scale commercial operation taking place sometime in 2016.

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Iraq natural gas joint venture gets final approval

The Iraqi Cabinet approved with Royal Dutch Shell and Mitsubishi Corporation, formation of joint ventures to the raw gas from three large oil fields to collect an agreement.

The joint venture, Mitsubishi Corporation, 51% of Iraqi South gas company, are called held 44% of shell and 5% Basrah gas company (BGC) and come together is raw gas that is currently due to lack of infrastructure, flared to collect it.

Shell offers project management and technical expertise with the intention that learn and step-by-step key positions in the management of the company take over development of our Iraqi employees to facilitate.

"Recording this gas is a reliable energy supply for the Iraq while reducing greenhouse gas emissions," said shell Chief Executive Officer Peter Voser.

"This sends a positive signal about the investment climate in the country."

The joint venture collect and process raw gas from the fields of Rumaila, Zubair and West world's largest 1 and Majnoon, in the southern part of the country. The primary market for the gas is Iraq, but any surplus can potentially be exported.

Some 700 million standard cubic feet of gas is currently burned every day in the South of Iraq. At current prices is the gas valued at approximately $1.8 billion per year.

Burning created it, how much per year than 3.5 million cars greenhouse gases.

In September 2008, shell signed a preliminary agreement with the Iraqi Ministry of oil for a gas project collect. The agreement established the commercial principles: a joint venture between shell and the South gas company. An official signing of the agreement is scheduled in the near future.

In the Iraq shell, the operator of the Consortium is providing technical assistance in the development of the Majnoon field.

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Lundin Petroleum: PDO approval for Brynhild

Lundin Petroleum reported the approval from the Norwegian Ministry of Petroleum and Energy of the Plan for Development and Operation (PDO) for the Brynhild field in PL148, located in the Norwegian North Sea.

First production from the Brynhild field is expected in late 2013.

The Brynhild field is located adjacent to the Norway-United Kingdom border, some 210 km from the Norwegian mainland. The development of Brynhild will be a three well subsea tie-back to the Pierce FPSO located in the United Kingdom, 38 km south of the field.

The estimated gross reserves are approximately 20 million barrels of oil equivalents (MMboe) with net peak production of approximately 12,000 barrels of oil equivalents per day (boepd). The hydrocarbons will be processed at the Pierce FPSO before being offloaded for further transportation.

Lundin Petroleum has a 50 percent working interest in the Brynhild field and is operator. Partners are Talisman with 30 percent and Noreco with 20 percent.

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UAE's Enec Seeking FANR Approval For Nuclear Prep Work

Monday, October 17 - 2011 at 09:43 UAE local time (GMT+4)

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Federal Government approves first deep-sea drilling approval in the Gulf

After more than eight months no deep drilling in the Gulf of Mexico has approved the United States the first approval for deep sea drilling in the region.

The Bureau of ocean energy management, regulation and enforcement on Monday announced that noble Energy Inc. is a permission, well, about 70 miles southeast of Venice, La. continue to work was issued

Noble began drilling well four days before the deepwater horizon well exploded. Drilling activity was exposed on 12 June under a moratorium to the United States on the research in waters deeper than 500 feet placed. If the moratorium was lifted in October allowed many thought it would be not long before it would be business as usual in the Gulf, but not new, were issued. 37 Other drilling permits has approved the United States since the lifting of the moratorium, but they were all in shallow water.

Feeling increased pressure from the oil industry began regulators and legislators alike began while drilling projects get back in the Gulf so that new safeguards were available.

Noble received approval to demonstrate it is according to Director Michael Bromwich, which contain a well blowout. The company commissioned the Helix well use containment group, an emergency cover areas, to stop the flow of oil if it loses power over a good stack.

A consortium led by Exxon Mobil Corp. offers an other emergency containment solution, as announced this month.

"We expect more deep-sea allows be approved, in the coming weeks and months based on the same process, which led to the approval of this permission", Bromwich said.

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