Colorado’s Advanced Energy Buys PV Powered
In a deal worth up to $90 million in cash and stock, Advanced Energy Industries bought Oregon-based PV Powered, a company that makes inverters, an essential part of solar power systems. According to OregonLive.com, Advanced Energy also sells inverters, which convert the direct current (DC) electricity generated by solar panels into the alternating current (AC) power usable by households and other customers on the electrical grid. Advanced Energy sells to large commercial and industrial users, while PV Powered targets residential and small commercial solar customers.
China Roars Past U.S. in Clean-Energy Investments
A new report from the Pew Charitable Trusts and Bloomberg New Energy Finance shows that in 2009, China surpassed the United States in clean energy investments for the first time ever. Renewable energy investments in China were $34.6 billion last year, compared to $18.6 billion in the United States. CNNMoney.com reports the United States ranked 11th in the amount of its clean-energy investments as a proportion of GDP. Bloomberg New Energy Finance expects a 25 percent increase in renewable energy investments worldwide in 2010.
Masdar Exploring North American Solar, Wind Projects
Abu Dhabi’s Masdar Power is looking to invest in solar and wind projects in the United States and Canada, but it will take its time looking for the right partner. According to Reuters, Masdar Power wants to team up with companies that have similar business models and have the local political knowledge needed for any renewable energy projects to be developed. The Masdar group is probably best known for its plans to build a carbon-neutral city in Abu Dhabi.
Student-Built Cars Set to Compete in Shell’s Energy Efficiency Challenge
High school and college students from around the world are preparing their fuel-efficient and alternative-powered vehicles for the Shell Eco-marathon Americas challenge, March 26-28 in Houston. The event challenges students to design, build and test eco-friendly vehicles that travel further using less energy. Solar Daily reports the event record is 2,757.1 miles per gallon (1,172.2 kilometers per liter) achieved in 2009 by Laval University. This year’s event features vehicles powered by various technologies, including combustion engines, diesel fuel, ethanol, fuel cell/hydrogen technology, LPG and solar power.