The National Post is reporting that the city of Toronto has entered an agreement with Toronto Hydro in order to install 8,800 solar panels on 10 city-owned arenas and community centres. The panels are expected to produce around 2,600MWh of electricity per year over the next 20 years.
United Insurance Brokers (UIB), an international insurance and reinsurance broker with headquarters in London, UK, has announced that it has won a contract to provide reinsurance for a 100MW power plant in southern Ukraine.
India’s Ministry of New and Renewable Energy (MNRE) has proposed plans to turn 60 Indian cities into so-called “solar cities”. The region of Tripura, in north east India, located next door to Bangladesh, has been selected as a pilot to this scheme with an investment of Rs.452.32 crore, according to a ministry official. The MNRE is expected to bear 90% of the cost and the remaining would be shouldered by the Tripura government.
According to a report by the Solar Energy Industries Association (SEIA) and the Vote Solar Initiative, US retail giant Walmart ranks number one in a list which identifies the top corporate companies using solar energy in the US for on-site consumption.
Renewable Energy Corporation (REC), a European supplier of PV modules, has completed the construction of a 4MW solar project in Greece for EuroEnergy, a renewable energy investment firm and a subsidiary of Libra Group.
SunEdison, a provider of solar energy services, has announced that it has secured an additional US$40 million for its project finance revolving credit facility, bringing the total capacity of the facility to US$150 million.
Bisol advised that it has made a €1.5 million investment for the three-phase automation of its production facility. The process, which it speculates will increase its production capacity by nearly 10%, is expected to be completed by the end of this year. Modernization of its production facility began this past summer. Bisol noted that its project was not financed by any European or governmental subsidies.
SunEdison announced that, along with Firelight Infrastructure Partners, it has attained financial close for a 10MW solar project being built in Ontario. Completed through a construction and term debt credit facility, the project is owned by SunEdison and Firelight as equity partners. Deutsche Bank worked as the private placement agent for the transaction, which was supported by a consortium of lenders.
Valos Solar Ventures continue to tie up the loose ends for its 20MW SKIC Solar 1 project; most recently with the signing of a 20-year PPA with Pacific Gas & Electric. The solar project, located near Bakersfield, California, is expected to receive approval from the California Public Utility Commission in October, with construction starting no later than August 2013.
Italian solar firm Aion Renewables has signed a preliminary agreement to sell 30MW of PV projects to Luxembourg-based Avelos. Aion Renewables is a specialist in the design, engineering, manufacturing and installation of PV systems.
