Tag Archives: Ontario

The Week In Green Energy: The Money Is In China

China: The Green Dragon

China is the “it” place these days when it comes to everything green. The country is more and more looking like a leader of the global renewable energy sector and less like the emerging contender.

The Chinese market has several obvious advantages for investors: the market is huge and protected and production costs — which U.S. unions claims are kept down by illegal state subsidies — are a fraction of Western countries. But enertech investors are also motivated by the easy access to cash and the willingness of banks and companies to spend and lend. China truly is becoming “The Green Dragon.”

This week, veteran enertech fund VantagePoint Venture Partners closed on a $100 million China-focused cleantech and renewable energy fund. The fund is both sector specific (renewable energy and financial services) and focused on investing in companies based in the city of Tianjin and its surrounding area. Continue reading The Week In Green Energy: The Money Is In China

Establishing A North American Clean Energy Beachhead

By Rodger Sadler, partner and Chi Cheung, associate, at Orrick, Herrington & Sutcliffe in New York and David Pamenter,  a partner and cleantech practice coordinator at Gowling Lafleur Henderson in Toronto.

The catastrophic Deepwater Horizon oil spill in the Gulf of Mexico underscores the urgency of reducing our energy dependence on burning fossil fuels and slowing the atmospheric buildup of greenhouse gases that cause climate change.

While U.S. politicians are still deadlocked in debating whether and how to confront this challenge, our neighbors to the north in Ontario, Canada, have already passed comprehensive legislation aimed at transforming how energy is generated, transmitted and used. Continue reading Establishing A North American Clean Energy Beachhead

The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

NEW YORK - JULY 6: A girl runs through a water fountain to cool off on July 6, 2010 in the Brooklyn borough of New York City. The National Weather Service has issued a heat advisory for parts of the Northeast, mid-Atlantic and parts of Michigan and Kentucky with temperatures in some areas predicted to reach 100 degrees. (Photo by Ramin Talaie/Getty Images)

The sweltering heat that has hammered the East Coast for the better part of the week did not dry up the renewable energy deal flow, as some developers managed to clinch crucial funding. And as is often the case these days — especially in the cleantech and renewable energy sectors — Washington was the de facto deal maker. Hence, as we headed into the Fourth of July weekend, President Obama announced some $2 billion in Department of Energy loan guarantees supporting solar developers.

Of the $2 billion announced by the President, Spanish company Abengoa Solar got $1.45 billion for the construction of the 250 megawatt Solana Concentrating Solar Power (CSP) plant in Arizona. Colorado-based start-up Abound Solar also scored a $400 million guarantee to scale production of its thin-film, photovoltaic modules from a current 67 megawatts to nearly 1 gigawatt over the next three years. Continue reading The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

The Week In Green Energy: The Tipping Point

Week of June 1 – to – June 4, 2010

The first week in June could well go down in history as the moment energy and climate legislation in the U.S. reached its tipping point. President Barack Obama, speaking at Carnegie-Mellon University in Pittsburgh on Wednesday, said that he was committed to getting the John Kerry and Joseph Lieberman-sponsored American Power Act passed – the first time he has hitched his political fortunes to the bill. “I want you to know, the votes may not be there right now, but I intend to find them in the coming months,” Obama said of the bill. The reason for Obama’s belated devotion to wrangling votes  is, of course, the gusher in the Gulf, which has continued unabated now since April 20. But there was a noticeable shift in the tone of The White House in the past week, as BP’s efforts to stem the flow have again floundered and assurances from company executives have proved to be overly optimistic or misleading. BP head Tony Hayward, for example, said that the “Top Kill” maneuver that failed last week had a 60-70 percent chance of success. Even promising results from the newest try at the containment dome can’t help BP now.

Continue reading The Week In Green Energy: The Tipping Point

Ontario Green Energy Official: “The U.S. stimulus is probably our biggest competitor”

While Washington continues to debate whether man-made climate change even exists, Canada’s most populous province, has debated, passed and implemented the effective and investor-friendly Green Energy Act. But Ontario, like the rest of the world, is closely following the Obama administration’s push to anchor the U.S. as a global green power. The  tens-of- billions of dollars the U.S. has  invested in renewable energy projects over the past year are tough to compete against, an Ontario government official tells G.E.R.

Continue reading Ontario Green Energy Official: “The U.S. stimulus is probably our biggest competitor”

Ontario Green Energy Official: The U.S. stimulus is probably our biggest competitor

While Washington continues to debate whether man-made climate change even exists, Canada’s most populous province, has debated, passed and implemented the effective and investor-friendly Green Energy Act. But Ontario, like the rest of the world, is closely following the Obama administration’s push to anchor the U.S. as a global green power. The  tens-of- billions of dollars the U.S. has  invested in renewable energy projects over the past year are tough to compete against, an Ontario government official tells G.E.R.

Continue reading Ontario Green Energy Official: The U.S. stimulus is probably our biggest competitor

Siemens Considers Wind Plant in Ontario

Ontario's flower, the trillium, even looks like a windmill. Coincidence?

Siemens Canada is looking at building a new wind turbine plant in Ontario, according to a report in Bloomberg.

Siemens Canada Chief Executive Officer Roland Aurich said the company is considering multiple sites but is focusing on Ontario and isn?t far from making an announcement. The move would further bolster Ontario green credibility and could validate the blockbuster CAD $7 billion deal with Samsung for wind and solar projects signed in January. Continue reading Siemens Considers Wind Plant in Ontario