[Top News] from [REUTERS]
[Green Business]
BANGALORE
Tue Dec 29, 2009 3:07pm EST
FuelCell Energy soars on hopes of govt incentives
BANGALORE (Reuters) - FuelCell Energy Inc shares rose 20 percent Tuesday on what one analyst termed as bullish bets by investors on a push for government incentives by the fuel-cell industry.
The surge came after The Washington Times quoted a FuelCell Energy executive as saying his company was working with Congress for "special attention in upcoming bills."
Raymond James analyst Pavel Molchanov said if the fuel-cell industry could get the Waxman-Markey climate change bill amended to provide more support for the sector, it would bode well for FuelCell Energy, which makes fuel-cell power plants for electric power generation.
The Waxman-Markey bill, which has been passed by the House of Representatives but not by the Senate, mandates a 5 percent increase in energy efficiency by 2020.
Shares of FuelCell Energy were up 16 percent at $3.67 in afternoon trade after touching a high of $3.79. The shares were among the top percentage gainers on Nasdaq.
More than 5 million shares had changed hands, six times the stock's 10-day moving average.
(Reporting by Krishna N. Das in Bangalore; Editing by Ratul Ray Chaudhuri)
[Green Business]
Tue Dec 29, 2009 11:38am EST
Boralex adds 47 MW wind power capacity in France
(Reuters) - Canadian power producer Boralex Inc said it had, along with its European partner Cube Infrastructure Fund, acquired three wind farms in France to add 47 MW of capacity for about C$115 million.
The acquisition increases the company's installed wind power capacity in Europe to 170 MW, Boralex said in a statement.
The company said a 30 MW wind site in Plateau de Ronchois in the Picardie and Normandie regions and a 10 MW wind site at Grand Camp in the Center region, which are under construction will account for close to 78 percent of the total investment.
Boralex said the equity contribution came from the capital injected by Cube.
On December 14, Boralex entered into a partnership with Cube to accelerate development in the renewable energy segment in Europe, particularly in wind and solar power.
The partnership would make it possible to support the development of an additional 110 MW of wind power, without Boralex being required for any supplementary funds, the company had said then.
The third wind farm, a 7 MW Bel Air site in Brittany, which had been in operation since December 2006, is financed by a French bank, Boralex said.
Boralex shares were up 5 Canadian cents at C$9.18 Tuesday morning on the Toronto Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)
[Green Business]
Amena Bakr - Analysis
DUBAI
Tue Dec 29, 2009 12:11pm EST
UAE to sell nuclear power
DUBAI (Reuters) - A $40 billion deal by the United Arab Emirates to acquire nuclear reactors puts it ahead in a drive to meet fast growing power needs among its Gulf neighbors, while also allowing it to export more of its oil.
The prospect of starting electricity exports within the next decade is a key element behind the UAE's award to a South Korean consortium on Sunday of the deal to build and operate four reactors in the third largest oil exporter.
"As part of the UAE's strategy the nuclear power plants will not only supply power domestically, but they are also planning to export electricity to countries close by in the region," said Vincent Nkong-Njock, nuclear power engineer at the International Atomic Energy Agency (IAEA).
The consortium, led by state-owned utility Korea Electric Power Corp (KEPCO), aims to complete the UAE's four 1,400 megawatt reactors by 2020. Power generation will begin after 2017.
The U.S. and the UAE have a nuclear cooperation pact and U.S.-based firm Westinghouse Electric, a unit of Japan's Toshiba Corp, was part of the winning consortium.
It also includes Hyundai Engineering and Construction, Samsung C&T Corp and Doosan Heavy Industries.
Economic growth has strained the infrastructure of the world's largest oil exporters in the Gulf region, and left them struggling to supply enough power.
All six members of the Gulf Cooperation Council, UAE, Kuwait, Saudi Arabia, Bahrain, Qatar and Oman, have shown interest in nuclear power to meet soaring domestic demand for electricity and free more oil and gas for export.
Kuwait held talks with France's Areva this year, while France and Saudi Arabia have said they were close to finalizing a civilian nuclear energy cooperation agreement.
French power giant EDF signed a memorandum with Qatar in early 2008 for cooperation on a civilian nuclear power program although Qatar's enthusiasm subsequently waned.
One problem is that decades of stagnant growth have limited the world's nuclear energy industry's capacity to meet resurgent demand for expertise and equipment.
The UAE expects electricity demand to reach 40,000 MW in 2020 from around 15,000 MW last year due to a petrodollar-fueled economic boom.
MORE PLANTS SEEN BEYOND 2020
South Korea said it hopes to build more plants in the UAE beyond 2020 to meet future demand.
"With the nuclear project on its way now and other reactors expected to come, the UAE will be able to both meet domestic demand and have excess to export both electricity and oil," said Nkong-Njock, an acting consultant on the UAE's nuclear project.
In July, a number of Gulf Arab states signed a power trading agreement to link up their grids, but cross-border trade on the $1.4 billion grid project will initially be limited as only Qatar has spare power to sell.
In terms of oil exports, analysts believe that in 10 years' time the UAE could significantly increase volumes, once the reactors are working and it no longer has to burn oil for power.
"Oil demand is on the rise and will continue to rise even more in the future and if prices remain at $75 (a barrel) or above, I expect that UAE would massively increase exports, only if the nuclear reactors are operational," said Christian Koch, director of international studies at the Gulf Research Center.
This will be the first time for South Korea to build a nuclear power plant in a foreign country, which is seen as a challenge as geological and climate conditions vary in the UAE, said IAEA's Nkong-Njock.
"But I think despite all these differences and challenges on the way, the Koreans have the technology to overcome all of this."
So far 10 possible locations have been chosen for reactors, according to the Emirates Nuclear Energy Corporation (ENEC).
The UAE has pledged to import all the fuel needed for the reactors, rather than attempting to enrich uranium, the fuel for nuclear power plants -- to allay fears about enrichment facilities being used to make weapons-grade material.
Iran has long been at odds with the West over its declared plans to use enriched uranium to generate electricity, a programme the United States and European allies fear is a cover to develop the ability to produce atomic bombs.
(Reporting by Amena Bakr; Editing by Anthony Barker)
[Green Business]
John McCrank
TORONTO
Tue Dec 29, 2009 5:22pm EST
Quebec adopts California's auto emission standards
TORONTO (Reuters) - Quebec will become the first province in Canada to adopt California's strict auto emissions standards, the province's environment ministry said on Tuesday.
The new rules will come into effect on January 14 and will impose increasingly stringent limits on greenhouse gas (GHG) emissions from cars and light trucks made between 2010 and 2016 that are sold in the province.
Emissions from vehicles will be cut by about 35 percent over the four years, from 187 grams of carbon dioxide per kilometer for passenger vehicles to 127 grams per kilometer by 2016, Charles Larochelle, assistant deputy environment minister in Quebec, said in an interview.
"In Quebec, 40 percent of our GHG emissions are from our transportation sector, so it's quite an important sector if we want to get some reductions in our greenhouse gases," he said.
Quebec first announced its plan to adopt the California emission standards two years ago, but was waiting for legal wrangling between the state of California and automakers to be resolved before it officially got on board.
Fourteen other U.S. states have also adopted the California plan, including Vermont, Maine, and New York state, all of which border Quebec.
The United States is looking at a national strategy to reduce carbon emissions, and the Canadian government has said it will probably tie itself to the U.S. plan.
(Reporting by John McCrank; editing by Peter Galloway)
[Green Business]
BANGALORE
Tue Dec 29, 2009 3:07pm EST
FuelCell Energy soars on hopes of govt incentives
BANGALORE (Reuters) - FuelCell Energy Inc shares rose 20 percent Tuesday on what one analyst termed as bullish bets by investors on a push for government incentives by the fuel-cell industry.
The surge came after The Washington Times quoted a FuelCell Energy executive as saying his company was working with Congress for "special attention in upcoming bills."
Raymond James analyst Pavel Molchanov said if the fuel-cell industry could get the Waxman-Markey climate change bill amended to provide more support for the sector, it would bode well for FuelCell Energy, which makes fuel-cell power plants for electric power generation.
The Waxman-Markey bill, which has been passed by the House of Representatives but not by the Senate, mandates a 5 percent increase in energy efficiency by 2020.
Shares of FuelCell Energy were up 16 percent at $3.67 in afternoon trade after touching a high of $3.79. The shares were among the top percentage gainers on Nasdaq.
More than 5 million shares had changed hands, six times the stock's 10-day moving average.
(Reporting by Krishna N. Das in Bangalore; Editing by Ratul Ray Chaudhuri)
[Green Business]
Tue Dec 29, 2009 11:38am EST
Boralex adds 47 MW wind power capacity in France
(Reuters) - Canadian power producer Boralex Inc said it had, along with its European partner Cube Infrastructure Fund, acquired three wind farms in France to add 47 MW of capacity for about C$115 million.
The acquisition increases the company's installed wind power capacity in Europe to 170 MW, Boralex said in a statement.
The company said a 30 MW wind site in Plateau de Ronchois in the Picardie and Normandie regions and a 10 MW wind site at Grand Camp in the Center region, which are under construction will account for close to 78 percent of the total investment.
Boralex said the equity contribution came from the capital injected by Cube.
On December 14, Boralex entered into a partnership with Cube to accelerate development in the renewable energy segment in Europe, particularly in wind and solar power.
The partnership would make it possible to support the development of an additional 110 MW of wind power, without Boralex being required for any supplementary funds, the company had said then.
The third wind farm, a 7 MW Bel Air site in Brittany, which had been in operation since December 2006, is financed by a French bank, Boralex said.
Boralex shares were up 5 Canadian cents at C$9.18 Tuesday morning on the Toronto Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)
[Green Business]
Amena Bakr - Analysis
DUBAI
Tue Dec 29, 2009 12:11pm EST
UAE to sell nuclear power
DUBAI (Reuters) - A $40 billion deal by the United Arab Emirates to acquire nuclear reactors puts it ahead in a drive to meet fast growing power needs among its Gulf neighbors, while also allowing it to export more of its oil.
The prospect of starting electricity exports within the next decade is a key element behind the UAE's award to a South Korean consortium on Sunday of the deal to build and operate four reactors in the third largest oil exporter.
"As part of the UAE's strategy the nuclear power plants will not only supply power domestically, but they are also planning to export electricity to countries close by in the region," said Vincent Nkong-Njock, nuclear power engineer at the International Atomic Energy Agency (IAEA).
The consortium, led by state-owned utility Korea Electric Power Corp (KEPCO), aims to complete the UAE's four 1,400 megawatt reactors by 2020. Power generation will begin after 2017.
The U.S. and the UAE have a nuclear cooperation pact and U.S.-based firm Westinghouse Electric, a unit of Japan's Toshiba Corp, was part of the winning consortium.
It also includes Hyundai Engineering and Construction, Samsung C&T Corp and Doosan Heavy Industries.
Economic growth has strained the infrastructure of the world's largest oil exporters in the Gulf region, and left them struggling to supply enough power.
All six members of the Gulf Cooperation Council, UAE, Kuwait, Saudi Arabia, Bahrain, Qatar and Oman, have shown interest in nuclear power to meet soaring domestic demand for electricity and free more oil and gas for export.
Kuwait held talks with France's Areva this year, while France and Saudi Arabia have said they were close to finalizing a civilian nuclear energy cooperation agreement.
French power giant EDF signed a memorandum with Qatar in early 2008 for cooperation on a civilian nuclear power program although Qatar's enthusiasm subsequently waned.
One problem is that decades of stagnant growth have limited the world's nuclear energy industry's capacity to meet resurgent demand for expertise and equipment.
The UAE expects electricity demand to reach 40,000 MW in 2020 from around 15,000 MW last year due to a petrodollar-fueled economic boom.
MORE PLANTS SEEN BEYOND 2020
South Korea said it hopes to build more plants in the UAE beyond 2020 to meet future demand.
"With the nuclear project on its way now and other reactors expected to come, the UAE will be able to both meet domestic demand and have excess to export both electricity and oil," said Nkong-Njock, an acting consultant on the UAE's nuclear project.
In July, a number of Gulf Arab states signed a power trading agreement to link up their grids, but cross-border trade on the $1.4 billion grid project will initially be limited as only Qatar has spare power to sell.
In terms of oil exports, analysts believe that in 10 years' time the UAE could significantly increase volumes, once the reactors are working and it no longer has to burn oil for power.
"Oil demand is on the rise and will continue to rise even more in the future and if prices remain at $75 (a barrel) or above, I expect that UAE would massively increase exports, only if the nuclear reactors are operational," said Christian Koch, director of international studies at the Gulf Research Center.
This will be the first time for South Korea to build a nuclear power plant in a foreign country, which is seen as a challenge as geological and climate conditions vary in the UAE, said IAEA's Nkong-Njock.
"But I think despite all these differences and challenges on the way, the Koreans have the technology to overcome all of this."
So far 10 possible locations have been chosen for reactors, according to the Emirates Nuclear Energy Corporation (ENEC).
The UAE has pledged to import all the fuel needed for the reactors, rather than attempting to enrich uranium, the fuel for nuclear power plants -- to allay fears about enrichment facilities being used to make weapons-grade material.
Iran has long been at odds with the West over its declared plans to use enriched uranium to generate electricity, a programme the United States and European allies fear is a cover to develop the ability to produce atomic bombs.
(Reporting by Amena Bakr; Editing by Anthony Barker)
[Green Business]
John McCrank
TORONTO
Tue Dec 29, 2009 5:22pm EST
Quebec adopts California's auto emission standards
TORONTO (Reuters) - Quebec will become the first province in Canada to adopt California's strict auto emissions standards, the province's environment ministry said on Tuesday.
The new rules will come into effect on January 14 and will impose increasingly stringent limits on greenhouse gas (GHG) emissions from cars and light trucks made between 2010 and 2016 that are sold in the province.
Emissions from vehicles will be cut by about 35 percent over the four years, from 187 grams of carbon dioxide per kilometer for passenger vehicles to 127 grams per kilometer by 2016, Charles Larochelle, assistant deputy environment minister in Quebec, said in an interview.
"In Quebec, 40 percent of our GHG emissions are from our transportation sector, so it's quite an important sector if we want to get some reductions in our greenhouse gases," he said.
Quebec first announced its plan to adopt the California emission standards two years ago, but was waiting for legal wrangling between the state of California and automakers to be resolved before it officially got on board.
Fourteen other U.S. states have also adopted the California plan, including Vermont, Maine, and New York state, all of which border Quebec.
The United States is looking at a national strategy to reduce carbon emissions, and the Canadian government has said it will probably tie itself to the U.S. plan.
(Reporting by John McCrank; editing by Peter Galloway)
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