Water shortages caused by a drought has caused significant problems for generation of hydro power in Chile. This, along with natural gas shortages from Argentina are causing potential brownouts or power cuts. Similar to the recent situation in South Africa, Chile’s power problems are affecting commodity prices, primarily copper.
No surprise that India has been beaten by China for oil exploration bids in Myanmar, Kazakhstan and elsewhere over the past few years. With serious shortages and blackouts seriously affecting and threatening India’s economic growth, India is looking to Africa, South America, Pakistan, and elsewhere for new supplies.
With oil prices over US$100/barrel, China’s independent refineries are understandably balking at supplying at a loss. The government is forcing independent suppliers to take the brunt of the massive inflation affecting the country, causing shortages to even Shanghai and Beijing.
February 28, 2008 (Renewable Energy World) –
Moser Baer PV steps up its plans to change the way India receives electricity.
The company, a relatively new entrant in the solar photovoltaic (PV) market, has recently announced a series of new initiatives. These include setting up India’s largest grid-connected solar farm in the sunshine abundant state of Rajasthan, and increasing production capacities.
MBPV announced that it had partnered with the Rajasthan Renewable Energy Corporation (RREC) to set up a solar farm of 1-5 MW capacity in the state. At US $4.5 million per MW, the total investment for this farm will be US $25 million.
March 3, 2008 (Datamonitor) – Sustainable Power has announced that Borneo Energy Sendirian Berhad, a wholly owned subsidiary of Borneo Oil and Gas, has entered into a share subscription agreement to purchase 50 million restricted shares of Sustainable Power.
The initial deposit required per the agreement has been received by Sustainable Power (SSTP). Sustainable Power also entered into a technical collaboration term sheet with Borneo Energy Sendirian Berhad (BOE). Continue reading
March 4, 2008 (AP) – A Norwegian manufacturer of solar panel components will start building a wafer plant in Singapore this year, the company said Tuesday.
“Solar energy will be the dominant source of energy in the future. It’s a very exciting industry to be part of,” said NorSun AS founder Alf Bjorseth, at a press conference.
The company plans a US$300 million (euro197 million) factory that can make enough solar wafers in a year to produce 350 megawatts of power. Construction will start in the third quarter of this calendar year.
It expects operations to begin in the third quarter of 2009.
March 3, 2008 (Reuters) – The fund, to be set up jointly with the United States and Britain, is expected be the largest ever of its type, with total investment of about 500 billion yen ($4.82 billion), the Nikkei said.
By investing in technologies such as wind and solar power in less developed countries, participating governments hope to encourage private finance to follow suit, the newspaper said without identifying its sources.
The British government last year announced 800 million pounds in support for the fund over three years, while the United States said this year it would provide $2 billion, also over three years, the Nikkei said. Continue reading