Tag Archives: Deutsche Bank

The Week in Green Energy: Americas Gloomy Wind Sector

Wind Turbines

After a couple of years of sustained growth, U.S. wind power investments have fallen off the cliff over the past year, pummeled by a combination of record-low natural gas prices, low power prices and ongoing uncertainty over the expansion of key federal stimulus programs. Add reverberations from the Great Recession and one starts to understand why U.S. installations of new wind capacity are expected to drop by 39 percent this year, according to a report released yesterday by Bloomberg New Energy Finance. Continue reading The Week in Green Energy: Americas Gloomy Wind Sector

Desertec Set to Add Five New Partners

So far it remains an initiative that’s yet to graduate to full blown project status. However, even in these early days Desertec,  formerly known as the Desertec Industrial Initiative (DII), knows a good PR yarn. Continue reading Desertec Set to Add Five New Partners

This Week In Green Energy: When Solar and Nuclear Meet

In a cash-constrained world, this week’s acquisition of solar developer Ausra by Areva (the French government-backed maker of nuclear reactors) makes sense.  We could see similar deals as small clean energy companies with big ideas and small balance sheets turn to large companies with stronger balance sheets.

Over the past decade, Areva, led by CEO Anne Lauvergeon, evolved from a secretive, tightly controlled government agency to a corporate-like entity. Areva’s alternative energy unit already manufactures wind turbines and is also involved in biomass generation, but the Ausra acquisition marks the company’s first solar investment.

A New Financing Model? Solar Millennium Launches Project-Specific Fund

Is it that hard to get bank financing? That’s one question raised by the release issued yesterday by German solar power developer  Solar Millennium, in which it announces that it seeks to raise €48 million ($72 million) to support construction of the 50-megawatt Andasol 3 parabolic trough power plant in Southern Spain.

Solar Millennium says potential investors can “expect[s] an average annual return of 8 percent over the life of the investment.” Investor money will actually be funneled to a special purpose company poised to control a 13 percent stake in the Andasol 3 solar power project.

The call for investors by Solar Millennium is unusual in as much that most companies tend to issue press releases once they’ve secured the investor money, not before. Continue reading A New Financing Model? Solar Millennium Launches Project-Specific Fund

Solar Millennium Hires Deutsche Bank and Citigroup to Help it Secure $6bn Financing

The U.S. project company of Germany’s Solar Millennium announced that it has hired Deutsche Bank and Citigroup to help it raise as much as €4 billion ($6 billion) to finance construction of thermal power projects across the sun-drenched U.S. Southwest.

Solar Millennium’s U.S. unit, Solar Trust of America, did not provide details on the number of plants or their location, only to say, “each power plant has an expected financing volume of more than one billion US dollars.”

The financing will likely support construction of at least two CSP parabolic trough solar facilities set to generate a combined 242 megawatts of electricity. Each of the projects is backed by power purchase agreements with Southern California Edison, and each is located in Southern California.  The financing could also support a third project in Nevada. Continue reading Solar Millennium Hires Deutsche Bank and Citigroup to Help it Secure $6bn Financing