Chicago-based E.ON Climate & Renewables North America, a subsidiary of E.ON AG (Xetra: EOAN) of Germany, one of the world’s largest energy companies, this week announced it ordered 112 of Vestas' V100-1.8 MW turbines for an undisclosed American wind-energy project. The specific model of turbines is designed to provide maximum capture of wind at lower speeds.
When the German government announced it would phase out nuclear energy within the decade, many wondered how they would replace a source that provides one-quarter of the country's current energy demand. Would fossil fuels meet the demand? Were renewable energy technologies capable of filling the void?
Shares of French-based renewable energy company EDF Energies Nouvelles S.A. (Paris: EEN.PA) closed up 10% today after French state-controlled power giant Electricite de France SA (Paris: EDF.PA) announced on Friday it will launch a €1.5 billion offer for the 50% of EDF Energies Nouvelles it does not hold. Electricite de France will offer €40 a share in cash or 13 EDF shares for 11 EDF Energies Nouvelles shares. (€1 = $1.44 April 11)
Power technology company American Superconductor Corporation (Nasdaq: AMSC) said today it will acquire The Switch Engineering OY, based in Finland, for €190 million in cash and AMSC shares ($265.43 million at today’s 1.00 EUR = 1.40 USD).
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Iceland's state-run energy company, Landsvirkjun, is considering manufacturing the world's longest sub-sea electric cable so it can bring its abundance of geothermal energy to interested parties in Europe.
Shares of Amerigon Incorporated (Nasdaq: ARGN) soared more than 13% Monday -- and another 10% by mid-session today -- after announcing an agreement to acquire its larger competitor W.E.T. Automotive Systems AG (XETRA: WET.DE) for euro 121.6 million ($166.6 million). If the deal is approved by shareholders and regulations, it will end litigation between the two companies over patents for energy efficient thermal seats for automobiles.
Shares of Aleo Solar AG (XETRA: AS1.DE) are up more than 23% since Tuesday when Robert Bosch GnbH announced it had increased its holding of Aleo from 70% to 82% and was offering to purchase the remainder of the company’s shares for 22 Euros ($30.25) each. Robert Bosch, based in Stuttgart, Germany, claims to be the world’s largest automotive supplier. Aleo, based in Oldenburg, Germany, produces solar modules and photovoltaic systems in plants in Germany, Spain and China.
As U.S. officials ponder a 2012 budget that would strengthen clean energy, the governments of Indonesia and Finland this week signed a cooperation agreement marking the beginning of a bilateral program to promote the use of wood-based biomass and agricultural waste as energy sources.