The Alternative Agenda: Bloomberg Backs China; Ex-Im Closes Honduras Wind Financing; Siemens Predicts ?40 Billion in Wind, Solar Revenues
Bloomberg Backs China
Speaking in Hong Kong, New York? Mayor Michael Bloomberg strongly defended China’s generous government subsidies supporting its domestic solar and wind companies.? ?It is very dangerous for us as a society ? I?m speaking of America ? to focus on blaming others, because what you do then is you don?t focus on your own practices,? the mayor said, reports the New York Times. He added: ?Let me get this straight… there is a country on the other side of the world that is taking their taxpayers? dollars and trying to sell, subsidize things so we can buy them cheaper and have better products, and we?re going to criticize that?? The mayor’s comments came a little less than a month after the Obama administration announced it would investigate whether China violated World Trade Organization rules by subsidizing its exports of solar panels and wind turbines to the United States.?
Financing Secured For 100 MW Honduras Wind Farm
International power company Globeleq Generation? has closed financing supporting the construction of its 102 megawatts, $220 million Cerro de Hula? wind farm in Honduras. As we previously reported, the U.S. Export-Import Bank (Ex-Im) and the Central American Bank for Economic Integration (CABEI) are directly financing the project. Specifically,? Ex-Im is providing? an 18-year, $160 million tranche and CABEI a 15-year, $60 million facility. The project owner is financing the balance with a $70 million equity financing. Cerro de Hula is slated to start operating in 2012 and is backed by a 20-year power purchase agreement with Honduras?s Empresa Nacional de Energia Electrica.
Siemens Predicts??40 Billion in Green Revenues
German industrial conglomerate Siemens says its confident it can grow sales of? solar equipment, wind turbines and other green products to ?40 billion ($55 billion) over the next four years. This year the Munich-based company expects its green biz to generate ?28 billion through September. For more, watch Bloomberg’s interview with Siemens CEO Peter Loescher.