A bankruptcy judge has determined that the assets of electric car maker Fisker Automotive will be sold off in a closed auction in New York Feb 12, with the company hoping that other potential buyers will join China's Wanxiang group and Hybrid Technology of Hong Kong, Reuters reports.
NextEra's plans to switch to photovoltaic technology at its proposed Blythe solar plant won unanimous approval from the California Energy Commission, which said the plant's benefits outweigh any negative impact it might have on the environment, Reuters reports.
NEW YORK (AP) — Solar panel installer SolarCity is turning to retail investors for cash. The company said Wednesday that it plans to sell securities directly to individuals and others interested in investing in its rooftop solar systems.
The move is a novel way for the San Mateo, Calif., company to finance the enormous cost of installing panels on thousands of roofs — a typical residential system costs $25,000 — while appealing to retail investors who are on the hunt for better rates of return than they can find in savings accounts and government bonds.
The securities will likely be similar to bonds or certificates of deposit. But instead of being backed by SolarCity, they would be backed by hundreds or thousands of contracts with rooftop solar customers. Wall Street has long created such products, called securitizations, which bundle assets such as mortgages or other loans into securities that can then be bought and sold.
The Maine Public Utilities Commission has approved a term sheet for Maine Aqua Ventus, outlining conditions for the pilot wind farm project to sell energy to the state's electricity grid, the Bangor Daily News reports.
The problems in Ukraine are unlikely to trigger faster action by the Obama administration on natural gas exports, a White House spokesman appeared to indicate Friday, as he noted that supplies in Europe are at higher-than-normal levels because of the mild winter there, according to Reuters.
Public Service Enterprise Group plans to spend $12 billion over five years on capital projects to improve reliability, hoping to increase the earnings of its utility business, The Wall Street Journal reports.
Weather-related rail bottlenecks in Chicago are causing higher prices and lower supplies of ethanol on the East coast, while Midwest plants are cutting production because of a shortage of rail cars, an industry representative told a U.S. Surface Transportation Board panel, Platts reports.
Investors will challenge corporations during the upcoming proxy season to make more environmental commitments, according to nonprofit Ceres, which has compiled a list of resolutions up for votes, E&E reports.
Saying President Obama's proposed "climate resilience fund" will help communities prepare better for severe weather might win it bipartisan support, according to Sen. Brian Schatz, D-Hawaii, National Journal reports.