In green technology news this week, South Korea broached a five-year, $12 billion plan to establish an environmental industrial complex; BYD and the State Grid Corporation of China completed construction on what may be the largest battery energy storage station worldwide; Siemens and the Carbon Trust (News - Alert) reached out to “have-not” firms in the U.K. to help them finance green equipment; a court of appeals placed a hold on the U.S. EPA’s Cross-State Air Pollution Rule—and much, much more.
The South Korean government announced this week that it intends build a $12 billion green economy over the next five years. "[We are] striving to establish [an] environmental industrial complex in metropolitan areas, both in Honam and Yeongnam regions, in order to build infrastructure for the environmental industry and promote green technology," Yoo Young-Sook, minister of Environment, told the Korea IT Times. In addition, South Korea plans to support projects in other nations that would eventually rely on “overseas exports of [products manufactured by our] domestic environmental industry,” Young-Sook added. Thanks to active investments, South Korea’s environmental industry has seen an average growth of over 30 percent annually and domestic companies are increasingly being aided by the government to increase exports.
China-based energy conglomerate BYD and the State Grid Corporation of China (SGCC) have finished construction on what may be the world’s largest battery energy storage station. Located in Zhangbei, Hebei Province, the utility-scale project combines 140 MW of renewable energy generation—both wind and solar—with 36 MWh of energy storage and a smart power transmission system. According to industry reports, there are renewable generation systems of this scale in service today—but there are no battery systems of this size. Officials said that the State Grid system is demonstrating a stable solution for transferring vast amounts of renewable electricity safely to the grid on an “unprecedented” scale. Annually, BYD manufactures 1GW of solar panels. But, the company’s role in this project was to provide energy storage batteries in arrays larger than a football field. SGCC said that it selected BYD’s iron-phosphate battery technology due to its superior service life -- over 20 years.
Research results released by the Energy Efficiency Financing Scheme on January 5 revealed that roughly 400,000 businesses—or 38 percent of employers— throughout England would have difficulty raising capital for energy efficient investments, if they applied for conventional bank loans. Through the Energy Efficiency Financing Scheme—launched in April 2011— Carbon Trust Implementation Services Ltd. (CTIS) and Siemens Financial Services UK Ltd. have partnered to provide businesses with a range of affordable and flexible financing options. Worth up to £550 million (US$854 million) over its first three years of operation, the dedicated green equipment financing program is the first of its kind. Siemens (News 
- Alert) is providing the financial backing; CTIS will use its expertise in energy efficient technologies to independently assess the carbon, energy, and cost savings of any project. CTIS is a subsidiary of the London-based Carbon Trust, which receives core grant funding from the U.K. Department of Energy and Climate Change to help accelerate the country’s conversion to a low-carbon economy.
A three-judge panel of the U.S. Appeals Court in Washington, D.C., placed a hold on the U.S. Environmental Protection Agency’s Cross-State Air Pollution Rule, which would have been implemented on January 1. The decision, announced on December 30, was made in response to a request for a stay from a coalition of more than a dozen electric power companies, municipal power plant operators, and U.S. states. According to Texas Attorney General Greg Abbott, whose state is among the six that requested the stay, the EPA failed to inform the public of the rule proposal in advance, so that affected parties could participate in the process. The complainants also argued that revisions made in October to the rule should invalidate the entire process. The rule, issued last July 7, was intended to shield 240 million Americans in 27 eastern states who live downwind from coal-fired power plants. Without further regulation, according to the EPA, the plants will continue to disgorge thousands of tons of smokestack emissions—including compounds that cause soot, smog and acid rain. The appeals court ruling orders the parties to submit proposed briefing schedules by January 17 so that the oral arguments may be heard by April.
According to Reuters’ (News - Alert) sources, India’s major utility company, Reliance Power, is talking to the world’s second largest energy company, Royal Dutch Shell, about jointly deploying a liquefied natural gas (LNG) terminal. The aim is to secure supplies for Reliance Power’s gas-fired power plant in Andhra Pradesh, which is expected to go into production in 2012. Neither company would comment on the report.
The stock of Thornton, Colorado-based Ascent Solar Technologies Inc. (ASTI) has gained amidst reports that TFG Radiant Group has agreed to double its stake in the U.S. thin-film solar company— putting its ownership of ASTI at approximately 41 percent. TFG Radiant Group is a joint venture of the China-based Radiant Group and the Singapore-based Tertius Financial Group. It has been Ascent's exclusive distributor in China for about a year. TFG Radiant will purchase the stake in the company presently owned by Norsk Hydro Produksjon for a total of $4 million, or around $0.50 per share. The transaction should close within 90 days.
In other Colorado financial news, Boulder-based Cleantech Solutions International, a manufacturer of metal components and assemblies for the wind power industry, as well as solar and other industries, announced that its common stock has begun trading on Nasdaq Capital Market, effective December 29, 2011.
Finally, Milpitas, California-based IXYS Corporation, a provider of high performance power and RF semiconductors and control ICs, has announced that it will be at the 14th Annual Needham & Company Growth Conference in New York City next week, from January 10-12, 2012. The conference is a platform for both public and private institutional investors ushering in 2012 by exploring new investment avenues. The company’s CEO, Dr. Nathan Zommer, will deliver a presentation on January 10 at 3:30 p.m. (ET), which will be available in live audio at the conference site.
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Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.
