UK courts rule that breaking FIT promise was illegal.

 

 

Personal Newsletter for Monty Bannerman from 20.01.2012

Europe

Britains energy ministry submits new plan to cut feed-in tariff

19.01.2012: The UK Department of Energy and Climate Change (DECC) has announced contingency plans to delay the cut to the country's solar feed-in tariff (FIT), in the event that it loses a legal case at the Court of Appeal about the tariffs. DECC wrote in a statement that it is laying before Parliament draft license modifications that make provisions for a reduced FIT rate from April 1, 2012, onward for new photovoltaic (PV) installations with eligibility dates from March 2012 or later. DECC Minister Greg Barker said, "I know this is a difficult time for the sector and I want to do as much as I can to end the current uncertainty created by the legal challenge. We must reduce the level of FITs for solar panels as quickly as possible, to protect consumer bills and to avoid bust in the whole feed-in-tariff budget." The Court of Appeal recently postponed making a decision on the DECC's challenge to a December High Court ruling that questioned the legality of the government's proposed changes to the solar FIT scheme. The High Court said that bringing forward the cutoff date to Dec. 12, which fell in the middle of an ongoing public consultation on changes to the FIT scheme, would be unlawful. ... Source: DECC; summary: PHOTON http://www.decc.gov.uk/en/content/cms/news/fits_jan12upd/fits_jan12upd.aspx http://www.decc.gov.uk/en/content/cms/news/wmsch_fits/wmsch_fits.aspx

North America

MidAmerican Energy Holdings completes acquisition of 49-percent stake in NRG's 290 MW Arizona project

18.01.2012: US-based MidAmerican Energy Holdings Co., which is controlled by Berkshire Hathaway, has completed its acquisition of a 49-percent stake in NRG Energy's 290 MW Agua Caliente solar project. The $1.8 billion photovoltaic (PV) project, located in Yuma County, Arizona, is being constructed by First Solar and will rely on First Solar thin-film PV modules. The first 30 MW section of the solar park is scheduled to begin commercial operation this week. Ultimately, the solar power plant is scheduled to be completed in 2014 and will supply electricity to California utility Pacific Gas & Electric (PG&E) through a long-term power purchase agreement. Last month, MidAmerican announced that it had purchased First Solar's 550 MW Topaz Solar Farm, which is expected to be completed in early 2015. … Source: MidAmerican Energy Holdings Company; Summary: PHOTON http://www.midamerican.com http://www.midamerican.com/newsroom/aspx/newsdetails.aspx?id=544&type= current The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/59536.pdf

North America

North American Development Bank finances 6.1 MW Arizona solar project

18.01.2012: The North American Development Bank (NADB) and the Border Environment Cooperation Commission (BECC) have approved certification and financing for the construction of a 6.1 MW thin-film solar park in Tucson, Arizona, that will supply electricity to Tucson Electric Power Company (TEP). Project developer AstroSol Tech Park AZ LLC, a wholly owned subsidiary of Astrosol Inc., which is itself a joint venture between Chinese solar panel manufacturer Astronergy Solar Inc. and German solar project developer Solmotion GmbH, was granted a loan of up to $13.2 million for the construction of the solar park. Vis Solis LLC, the US subsidiary of Solmotion, will manage the project. … Source: North American Development Bank; Summary: PHOTON http://www.nadb.org http://www.nadb.org/newsandupdates/newsreleases.asp The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/59535.pdf

Munich RE offers new insurance product for large-scale PV system operators

19.01.2012: The German reinsurance company Munich RE announced the launch of a new insurance product for operators of photovoltaic (PV) plants larger than 20 MW. The product protects these operators against the insolvency risk of the manufacturers that produced the modules used in their systems. In the event that modules are defective or suffer from degradation over time, reducing output, operators can usually appeal to the manufacturer under the terms of a warranty. But if the manufacturer is insolvent, operators without Munich RE's new product may have to bear the costs of repair or replacement themselves. Developed in conjunction with Deutsche Bank, the new insurance has been tested for the first time by an operator running a PV plant installed in Southern Italy. The plant was financed by Deutsche Bank and Rabobank. … Source: Munich RE; summary: PHOTON http://www.munichre.com http://www.munichre.com/en/media_relations/press_releases/2012/2012_01 _18_press_release.aspx The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/59566.pdf

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