Austin Energy Buys PV From SunEdison at Possibly the Lowest Solar Rate of 5 Cents per Kilowatt-Hour
City-owned Austin Energy is about to sign a 25-year power purchase agreement with SunEdison for 150 megawatts of solar power at around 5 cents per kilowatt-hour. This is one of the lowest, if not the lowest, reported prices for contracted solar deals. The utility has a 35% renewable energy goal by 2016 and a solar goal of 200MW by the end of the decade. Austin Energy is currently at around 25 percent, much of it made up by its 850 MW of wind.
Reykjavik to Start Drilling on $2 Billion Geothermal Project in Ethiopia
Reykjavik Geothermal, a power-plant builder from Iceland, plans to begin drilling in Ethiopia in July as part of a $2 billion project to develop the renewable energy source, says CEO Gunnar Orn Gunnarson. The Ethiopian government signed a deal with Reykjavik Geothermal in October to build a power plant in an imploded volcano in the Rift Valley that is expected to generate 500 MW of electricity by the end of the decade.
Vestas Regains Top Spot from GE
Vestas, the longtime number- one wind turbine maker which was overtaken by GE in 2012, has surged up the rank to regain the top spot. New data from GlobalData as well as Make’s Top Ten global wind turbine OEM rankings put Vestas ahead of the pack while former leader GE fails to reach the top 5. Being back at the top spot is the culmination of a two-year turnaround for Vestas, in which the company shed nearly a third of its workforce, but erased 900 million euros in debt.
Lukoil Considers Investing in Russian Wind Farms
Lukoil, an Russian energy company, may start a pilot project for 10 megawatts if wind generation in the isolated region of Kaliningrad if Russia reduces restrictions requiring equipment to be bought locally, says Maxim Karnaukhov, first deputy general director of Lukoil-Ecoenergo. Lukoil is looking at viable locations for future renewable energy projects as its units in Romania and Bulgaria are hurt by subsidy reductions following a surge in installations.
