News Around World: Green on top

Green on top, or face $100,000 fine, city propose

Toronto is poised to become the first city in North America to make green roofs mandatory on most new buildings and set standards for their construction.

A city committee yesterday considered a proposed bylaw that would require roofs on new buildings with an area of 5,000 square metres or greater to be 30% to 60% covered by vegetation. The bigger the building, the more planted space it would have to have--otherwise fines of up to $100,000 could be levied.

As drafted, the bylaw would cover mid-to high-rise condos, retail space and office towers, but exempt low-rise, large-scale industrial, nonprofit housing and public buildings such as schools.

But even as Toronto's powerful development industry was urging the city to slow down and keep green roofs strictly voluntary, local politicians were complaining the draft bylaw was too cautious for a metropolis vying to be the most environmentally minded on the continent.

Deputy Mayor Joe Pantalone, who helped bring the city's first power-generating windmill to the Exhibition grounds, said he was "disappointed" the first draft of the bylaw was so "tepid."

Mr. Pantalone asked city staff to come back in a month with a proposal that would include schools, low-rise buildings on "Main Street" and even private residences.

"Either we are the leading city in the world or we're the ones who looked in the mirror and got scared," he said.

BILD -- the Toronto and GTA Building Industry and Land Development Association -- was quick to urge city politicians to reconsider.

The association sent a letter to the city's chief planner expressing reservations and proposing a pilot project first instead of a full-scale bylaw.

"We have significant concerns with the city's proposal to require and govern the construction of green roofs. We continue to advocate that green roofs be implemented on a voluntary basis," it stated.

"If the home-building and development industry are provided with various incentives, this approach would assist the city with its objectives, while not forcing green roofs on those who may choose to use other forms of sustainable development for their projects."

Since his election in 2003, Toronto's hybrid-driving Mayor David Miller has put the environment front-and-centre on the municipal agenda, setting up a LiveGreen office to promote eco-friendly living, offering rebates for low-flush toilets, banning bottled water sales at city hall, taking on the coffee industry over the disposable cup and studying climate change within civic boundaries.

A new city report touts the environmental benefits of rooftops covered largely in plants and organic material as opposed to asphalt or metal.

These include "reducing the urban heat island effect and energy consumption, improving air quality and storm water management and creating opportunities for biodiversity and habitat creation and beautification of the city."

Steve Daniels, who sat on a green roof technical advisory committee representing BILD, said developers are interested in working with the city to create more green roofs. But he said they can add "hundreds of thousands of dollars ... if not more" to the cost of a project.

"The range can be anywhere on the lower end from $18 a square foot to around $28 a square foot. It's somewhere in that range that we're looking at for an added cost," Mr. Daniels said.

"It's always a concern. Compounded with development charges, compounded with application fees that go up, it's a cumulative effect. So this is just another added cost that has to be factored in at the end of the day."

On top of that, he said there is trepidation about how the new bylaw, which derives its authority from the City of Toronto Act, would mesh with the Ontario Building Code and other city zoning requirements, such as those that call for outdoor amenities for high-rise condos. Those amenities often end up on the rooftop.

Stephen Upton, vice-president development planning at building giant Tridel, pointed out that once installed, the rooftop shrubbery has to be left untouched for two years to allow it to take root.

More information is also required about the longevity of green roofs and how much should be budgeted in a condo corporation's building fund for future replacement.

"I think there's still quite a bit left to be understood, digested and refined," Mr. Upton said. "Toronto green standards, those are things that shouldn't be mandated but should be encouraged."

But while the developers were balking at the bylaw, environmental groups were urging Toronto to move further and faster.

Steven Peck, president of the 10-year-old Torontobased group Green Roofs for Healthy Cities, said the city's efforts could create jobs and be on the "leading edge" of the technology.

"We're very concerned that there's been a watering down of the requirements and we're concerned it will set a negative precedent for cities elsewhere in North America," Mr. Peck said, adding Toronto is "perched on the edge of really starting to get serious about implementing green roofs."

The issue will return to the planning and growth committee for further debate on May 6.

News Around World: Green on top

0 comments RSS Posted by Alluri Girish at 11:07 PM

California unveils draft cap-and-trade rules

SAN FRANCISCO, Nov. 25 (Reuters) - California released on Tuesday draft rules for its landmark greenhouse gas cap-and-trade plan that will be the most ambitious United States effort to use the market to address global warming.

State law requires California to cut its carbon dioxide and other greenhouse gas emissions to 1990 levels by 2020. Measures will range from clean vehicle and building rules to the cap-and-trade system that lets factories and power companies trade credits to emit gases that heat up the earth.

Federal rules under debate by Congress could eclipse and pre-empt regional plans, but California and other local governments see themselves as the vanguard of addressing climate change, especially in light of slow national action and setbacks for international talks scheduled in Copenhagen next month.

The draft released on Tuesday shows California, seen as an environmental trend-setter, may take on even more than expected in its first round of cap-and-trade, which will start in 2012.

Gasoline and residential heating fuel suppliers could be included in the first cap-and-trade phase, which had been expected to focus on big pollution sources like power plants and refineries.

"California is the first out of the box," Mary Nichols, state Air Resources Board chair, told reporters on a conference call. The draft rules kick off a comment period that will lead to final regulation next fall.

A less comprehensive Northeastern United States regional trading system is already under way, focusing on carbon dioxide emissions by big emitters. California by contrast plans to include nearly every source of emissions to reach its goal.

California businesses regularly criticize the plan as going too far too fast – and costing too much. Whether the net effect of the plan will be a new green economy or disaster for overburdened businesses is still hotly debated.

Outsize attention
New estimates of plan costs, including suggestions on how much support to give industry, won't be available until an independent advisory group issues a report next year.

The draft avoids what may be the toughest issue – how much to rely on auctions of credits, which would require power companies and the like to buy permission to pollute. The emitters want allowances given to them, especially early on.

But Ms. Nichols said California had shown a strong preference for moving to auction as quickly as possible and that its 2006 global warming law provided clear guidance while politicians in the United States Congress were still raising support for a bill.

"Congress started this, you know, as a political exercise to see how many allowances you had to give out to which groups to get them to buy into the program. They didn't have a climate bill," she said.

"We know how many emissions we have to reduce. The question is how do we do it in a way that costs less," added Ms. Nichols, whose Air Resources Board was appointed by state law as the main regulator deciding on how to cut greenhouse gases.

The cost of a ton of carbon dioxide initially could be around $10, based on how other programs operated, she said. That is about half the current European price. The average American has carbon production of about 20 tons per year, according to the Union of Concerned Scientists.

The cap-and-trade system will account for only about a fifth of California reductions but it draws outside attention, in part because the state, with the largest United States economy and population, is part of the 11-member Western Climate Initiative, which includes American states and Canadian provinces.

China, too, will watch California's action, partly by virtue of the state's partnerships with Chinese provinces, said Derek Walker, climate change director of the Environmental Defense Fund California.

"In many ways this is similar to what you are hearing from international circles now. Everybody is coming to the table with their opening bets," he said. But unlike most, California has committed to cuts and now is working out the details.
California unveils draft cap-and-trade rules

0 comments RSS Posted by Krasugir & Co at 3:21 AM

Quebec sets 2020 greenhouse gas emission targets

VANCOUVER, British Columbia, Nov. 24 (Reuters) - The Canadian province of Quebec said on Monday it aims to cut its greenhouse gas emissions by 20 percent below 1990 levels by 2020, the same target as that set by the European Union.

"It is a very ambitious target for the government, given that 48 percent of Quebec's total energy currently comes from renewable energy sources," Quebec Premier Jean Charest said in a statement.

Much of Quebec's power comes from massive hydroelectric projects.

Quebecers emit approximately 11 tons per capita of greenhouse gases, which are blamed for climate change. That is half the Canadian average, Mr. Charest said.

The mostly French-speaking province is a member of the Western Climate Initiative, a group of four Canadian provinces and seven western American states, which is working on implementing a carbon cap and trade system in North America by 2012.

Canada's federal government has pledged to cut carbon emissions by 20 percent from 2006 levels by 2020. However, Ottawa is waiting for the United States to finalize its cap-and-trade program before proceeding with its own.

British Columbia pledged in 2007 to cut its emissions of greenhouse gases by 33 percent by 2020, which would put them 10 percent under 1990 levels.

Quebec sets 2020 greenhouse gas emission targets

0 comments RSS Posted by Krasugir & Co at 3:20 AM

Slowdown in wind market causes revenue fall for Broadwind

Nasdaq-listed Broadwind Energy Inc. suffered from the slowdown in the wind energy industry in the United States, reporting a decline in its third quarter revenues.

Revenues for the third quarter of 2009 went down to $59.5 million from $63.7 million in the third quarter of 2008. The company attributes the revenue decline to lower shipments of wind turbine gearing systems from its products segment.

However, lower revenues were partially offset by the increased sales of wind turbine structural towers, brought by a capacity expansion during the first quarter of the year.

Third quarter revenues for Broadwind’s services segment, which provides technical service, logistics, and precision repair and engineering for wind energy customers, slid to $11.8 million from $13.5 million in same period last year. The decrease was due to a decline in maintenance and repair contracts completed in the current quarter.

Net loss for the third quarter was $4.9 million, which reflected the lower operating expenses incurred. Both the products and services segments reported lower operating losses compared with the third quarter of the previous year, with the products segment registering a $700,000 operating loss versus a $1 million operating loss in 2008.

The services segment’s operating income broke even during the third quarter versus a $400,000 operating loss, brought about by reduced operating expenses.

“Since late 2008, we have been significantly impacted by a slowdown in our industry caused by reduced capital availability to fund new wind farm developments,” said J. Cameron Drecoll, chief executive of Broadwind Energy.

However, Mr. Drecoll is optimistic of the market’s recovery in 2010. “We are seeing early signs that capital is again flowing into wind energy project developments,” he noted.

Based in Naperville, Illinois, Broadwind is an independent, horizontally integrated provider of products and services for the North American wind market.
Slowdown in wind market causes revenue fall for Broadwind

0 comments RSS Posted by Krasugir & Co at 6:30 AM

China Integrated names price for public offering

Nasdaq-listed China Integrated Energy, a leading non-state-owned integrated energy company in China, has priced a public offering of 5 million shares of common stock at $5.75 apiece.

The company has granted the underwriter Oppenheimer & Company a 30-day option to purchase up to an additional 750,000 shares of common stock.

The public offering, subject to customary closing conditions, will end on November 4, Wednesday.

China Integrated Energy expects net proceeds after underwriting discounts, commissions and expenses are deducted to total $26.9 million.

The company intends to use the funds it will raise through the offering to expand its biodiesel production facility, wholesale distribution and retail gas station businesses.

China Integrated Energy is one of the largest biodiesel manufacturers in China and is the only non-state-owned biodiesel producer with a distribution license.
China Integrated names price for public offering

0 comments RSS Posted by Krasugir & Co at 6:26 AM

Satcon hit by crisis but aims to bounce back

Satcon Technology Corporation saw the effects of the global recession on its total sales for the third quarter, as revenues went down by 37 percent, from $18.5 million in 2008 to $11.7 million.

The company’s gross margin – the ratio of each dollar of earnings maintained as gross profit – was only 1 percent in the third quarter ending October 3, a dismal decrease from the 19 percent in the same period in 2008.

Satcon reported an operating loss of $7.3 million, as compared with $3.3 million in 2008. Operating loss refers to the amount by which the cost of goods sold and the operating expenses is greater than the operating revenues.

Steve Rhoades, president and chief executive of Satcon, noted that the transition of the company’s manufacturing to China led to an increase in manufacturing costs. He said that these transition costs will continue into the fourth quarter, although he expects to complete the transition by yearend.

Despite the year-over-year decrease, revenues for the third quarter gained by 27 percent over the second quarter revenue of $9.2 million. Mr. Rhoades attributed this to the successful launch of some of the company’s utility-scale solar photovoltaic inverter solutions.

Some of the company’s operational highlights include the completion of the 9-megawatt First Light installation in Ontario Canada, which utilized the company’s 500-kilowatt PowerGate Plus inverters; an order for 5 MW of Satcom Prism for the 9-MW solar farm in Chicago, Illinois; and another delivery of 5 MW of Satcon Prism for CalRenew, the largest utility-scale photovoltaic solar facility in California.

Satcon also won a contract to supply 23 MW of its 500-kW PowerGate Plus inverters to a large Chinese reseller. This is the company’s largest single order to date and is scheduled for delivery in the fourth quarter.

With the increase in the company’s bookings in North America, Europe and China, which led to a current backlog of over $24 million, Mr. Rhoades foresees a strong fourth quarter for Satcon.

“The momentum of our business is steadily improving which is supported by the growing strength of the large scale solar market and the increasing demand for utility grade solar solutions,” he said.

He continued, “We continue to target reaching our first key financial milestone of cash generation on a run-rate basis as we exit 2009.”

Based in Boston, Massachusetts, Satcon has been delivering energy systems for solar photovoltaic, fuel cell, wind turbine and energy storage systems for over 24 years.
Satcon hit by crisis but aims to bounce back

0 comments RSS Posted by Krasugir & Co at 6:25 AM

SunPower makes solid third quarter finish

SunPower Corporation reported strong revenues of $466 million in the third quarter, marking an increase from gross incomes of $298 million in the second quarter and $378 million in the same period in 2008.

Based on Generally Accepted Accounting Principles (G.A.A.P), the Nasdaq-listed company reported a gross margin of 19.1 percent, an operating income of $34.6 million and earnings per diluted share of $0.13 for the third quarter of the 2009 fiscal year, which ended on September 27.

On a non-G.A.A.P basis, SunPower’s gross margin was 20.7 percent while operating income touched $52.1 million. Earnings per diluted share reached $0.42.

The G.A.A.P is a framework of accounting standards, rules and procedures that most companies follow when preparing financial statements. Often, companies also review their non-G.A.AP financial measures, or adjusted earnings, in order to gauge their financial performance.

A company’s gross margin is the proportion of each dollar of revenue retained as gross profit. Operating income represents revenue from the company’s business operations, excluding operating expenses.

Earnings per share pertain to the portion of a company's profit earmarked to each outstanding share of common stock. Diluted earnings per share is a performance metric used to gauge the quality of earnings per share if all convertible securities, such as convertible preferred shares, stock options and warrants, were exercised.

SunPower’s strong financial performance during the third quarter was attributed to the expansion of its global dealer partner network and the successful execution of its large-scale commercial solar projects, said chief executive Tom Werner.

SunPower’s dealer network grew to approximately 900 partners, including partners from France, Korea and Canada.

"Operationally, our global engineering, procurement and construction team achieved a new record in the third quarter with more than 60 megawatts of SunPower power plants under construction,” added Mr. Werner.

SunPower has already commissioned its 25-megawatt DeSoto power plant for Florida Power & Light, which Mr. Werner claimed has already surpassed the Nellis Air Force Base as the largest operating solar photovoltaic power plant in America.

The company has also secured financing for its 24-MW Montalto project, the largest power plant in Italy.

Established in 1985, SunPower designs and manufactures solar photovoltaic products for residential, business, government and utility customers. The San Jose, California-based company has offices in North America, Europe, Australia and Asia.
SunPower makes solid third quarter finish

0 comments RSS Posted by Krasugir & Co at 6:22 AM

Ingersoll-Rand's revenues reel due to crisis-hit markets

Ingersoll-Rand P.L.C.’s year-on-year revenues decreased by 19 percent in the third quarter, including a negative currency impact of 2 percent, due to sluggish demand from its major end markets in crisis-hit United States and Europe.

Revenues declined from $4.313 billion in the third quarter of 2008 to $3.482 billion in the same quarter this year.

In particular, revenues from the United States slid by 15 percent while revenues from international operations went down by 26 percent, with the sharpest year-on-year decline recorded in Europe.

"It appears that we are bouncing along the bottom in most of our businesses," remarked Herbert L. Henkel, Ingersoll-Rand chairman and chief executive.

Net earnings in the third quarter of 2009 came in at $216.6 million compared from $227.6 million in the same period last year, translating to a decline of earnings per share from 70 cents to 65 cents.

Third-quarter net income included $224.9 million from continuing operations and $8.3 million of after-tax costs from discontinued operations.

Operating income also decreased year-on-year from $347.4 million to $318.3 million. Interest expense also went down from $83.7 million to $76.5 million due to lower debt balances.

New York Stock Exchange-traded Ingersoll-Rand attributed lower operating profits and margins to substantial declines in volume, unfavorable product mix and negative currency impact. It added that volume decline was only partially offset by expense reductions, productivity actions and lower commodity costs.

Productivity savings

Nevertheless, Ingersoll-Rand said it is on track to achieve $670 million in productivity savings for the full year, exceeding a $650 million target, on the back of a 5.2 percent increase gross productivity in the third quarter.

Controlled spending and working capital reductions also contributed to cash generation which enabled the company to “significantly accelerate our debt reduction compared with our 2009 target” said Mr. Henkel.

Total debt at the end of the third quarter was approximately $4.1 billion. Year-to-date, the company has generated available cash flow of approximately $1.2 billion and reduced total financing by $850 million.

Ingersoll-Rand projects fourth quarter revenues at $3.2 billion to $3.4 billion as the developed markets continue to contract. Full year revenues are expected to fall in the range of $13.1 billion to $13.3 billion, marking about a 19 percent decline from 2008.

The global diversified industrial company pointed to some encouraging signs that can help it bounce back. “We do see some tentative positive signs in residential security and H.V.A.C. [heating, ventilating and air-conditioning], North American refrigerated trailers and across several of our businesses in China,” said Mr. Henkel.

However, he said non-residential construction in the United States and European industrial and construction markets will continue to be tough.

Mr. Henkel said that though global recovery remains cloudy, internal cost reduction and productivity improvement can still help the company grow earnings in 2010. He added that productivity is planned to exceed cost inflation by one to two percentage points while earnings per share is expected to fall in the range of $2 to $2.40.

Ingersoll-Rand’s business is mainly in four segments: air conditioning systems and services; climate control technologies; industrial technologies; and security technologies.
Ingersoll-Rand's revenues reel due to crisis-hit markets

0 comments RSS Posted by Krasugir & Co at 6:21 AM

Solutia prices $ 400 million senior unsecured notes

Specialty chemicals producer Solutia has priced a public offering of $400 million aggregate principal amount of senior unsecured notes, or $100 million more than previously announced.

In the new offering, the notes due on 2017 will bear an interest rate of 8.75 percent per annum. Solutia expects to close the offering on October 15.

Solutia anticipates net proceeds of approximately $391 million after deducting underwriting discounts and commissions. The company intends to use the funds raised from the offering mainly to prepay $300 million aggregate principal amount of its senior secured term loan.

Deutsche Bank Securities Inc., Kefferies & Company, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the joint book-running managers of the offering.

Solutia has also received lender approval for amendments to its asset-based lending and term loan credit agreements, which would become effective once a portion of the net proceeds from the offering is used to prepay the term loan. The amendments will provide the company with greater operational and strategic flexibility and increase its liquidity and covenant cushion.

Based in St. Louis, Missouri, Solutia is a leading provider of specialty chemicals. The company, listed on the New York Stock Exchange, has already signed numerous contracts to supply Therminol heat transfer fluid to solar power plants globally, including power plants in Morroco and Algeria.
Solutia prices $ 400 million senior unsecured notes

0 comments RSS Posted by Krasugir & Co at 6:21 AM

Magma Energy secures 32.32% stake in geothermal company HS Orka

The Vancouver-based company said that this interest could increase up to 43.1% if an earlier deal in July pushes through. STOCKXPERT
Yesterday, Magma Energy Corp. announced that it has signed an agreement to acquire 32.32% of HS Orka, the largest privately owned energy company in Iceland, from Reykjavik Energy.

Canadian company Magma had been previously selected last August 17 as the preferred bidder in the deal. The deal involves 3.7 billion kroner (US $29.5 million) and an 8.7-billion kroner ($68.8 million) bond payable in a single installment for seven years with interest at 1.52% per annum. The bond will be secured by shares Magma acquired in this transaction.

The transaction comes after a deal signed by Magma last July to acquire a 10.8% stake in the Icelandic geothermal company with an option to take up another 5% share. If both transactions push through, Magma would hold a 43.1% stake in HS Orka and an option to invest $15 million in its expansion plans. In total, Magma can increase its stake up to 48.1%.

Subject to several closing conditions, including approval by the Toronto Stock Exchange, a waiver of preemptive rights, and negotiations about debt agreements with third parties of HS Orka, the transaction is expected to close in late September.

Ross Beaty, Magma's CEO, said, "We view this as a long term investment in HS Orka. We intend to work closely with all stakeholders to maximize HS Orka's value for all. The transaction provides HS Orka with a strong financial partner and provides Magma with exposure to Iceland's substantial geothermal resources and highly skilled domestic workforce.”

Magma was advised on the transaction by Glacier Partners, an investment advisory firm specializing in the geothermal and seafood industries


Magma Energy secures 32.32% stake in geothermal company HS Orka

0 comments RSS Posted by Krasugir & Co at 8:35 AM

Vestas makes slight increase in revenues

Danish wind giant Vestas reported revenues of 1.814 billion euros ($2.685 billion) for the third quarter of 2009, marking a 3 percent year-on-year increase, on the back of strong product shipments.

Vestas also recorded a 53 percent rise in total earnings before interest and taxes to 244 million euros relative to third quarter 2008.

In the third quarter of 2009, the company saw an increase in their production, shipping a total of 979 turbines, an increase of 17 percent, and wind power systems with an aggregate capacity of 1,635 megawatts, for an increase of 11 percent.

Europe accounted for 57 percent of revenues in the third quarter of 2009. Meanwhile, Americas and Asia-Pacific accounted for 31 percent and 12 percent of revenues, respectively.

Third-quarter revenues amounted to 25 percent of the expected full-year revenue, against 29 percent of actual revenues in 2008.

Vestas retains its earnings and revenue guidance for 2009, with expected earnings before interest and taxes margin of 11 percent to 13 percent and revenues of 7.2 billion euros. Net working capital is expected to represent 10 percent to 20 percent of revenue by the end of 2009.

Despite this, the company stated that earnings were, to a minor extent, adversely affected by the closedown of production and layoffs on the Isle of Wight in Britain, as well as the ongoing upgrade of the labor force in China and the United States.

Vestas said the upgrading of the workforce in the United States is not progressing as quickly as planned due to the credit crisis.

In 2010, Vestas expects to achieve earnings before interest and tax margin of 10 percent to 12 percent and revenues of 7 billion euros to 8 billion euros.

In general, the company expects prices and conditions to remain unchanged in 2010 relative to 2009.

Vestas expects to lift earnings before taxes and interest margin to 15 percent and revenues to 15 billion euros not later than 2015, through ongoing capacity expansion, savings and efficiency improvement measures, improved wind turbine output and the development of service products.

At the end of September 2009, Vestas had 117,068 registered shareholders, including custody banks, which held 87 percent of the company's share capital. Danish shareholders are estimated to own approximately 31 percent of Vestas, which has a free float of 100 percent.

Vestas is listed on Nasdaq-OMX Copenhagen.

Vestas makes slight increase in revenues

0 comments RSS Posted by Krasugir & Co at 8:34 AM

Vattenfall bears out crisis' impact on energy

State-owned Swedish energy company Vattenfall A.B. has reported lower earnings for the third quarter of 2009, confirming the impact of the global financial crisis on the energy sector.

According to the company’s interim report for the third quarter of 2009, operating profit decreased by 37 percent to 3.524 billion Swedish kronor ($498 million), and by 4.6 percent to 22.265 billion Swedish kronor in the nine months to September.

The lower operating profit may be a result of lower electricity generation volumes, higher operating and maintenance cost, as well as elevated level of depreciation.

Meanwhile, net sales rose by 22.5 percent during the third quarter to 45.346 billion, and by19 percent for the nine-month period, to 140 billion Swedish kronor.

Profit after tax decreased by 74.9 percent to 622 million Swedish kroner for the third quarter, and by 17.3 percent to 11.338 billion Swedish kroner from January to September.

“Nine months into 2009 we can confirm that the effects of the current recession have been clear also for the energy sector,” said Lars G. Josefsson, Vattenfall’s chief executive.

Mr. Josefsson is not optimistic of a swift recovery to pre-crisis levels, adding, “Due to the high share of electricity-intensive industry in the Nordic countries, the recovery will most likely take place faster in the Central European market.”

As earnings fell below expectations, Vattenfall plans to intensify measures focused on value creation that entail diverging low-yielding assets outside the core businesses, sharpening demands on efficiency improvement, and cutting cost across the organization.

“We are also looking over and scaling back our investment program as an adjustment to the current situation,” Mr. Josefsson added.

In the third quarter, Vattenfall acquired Netherland energy company N.V. Nuon Energy, shut down the Krummel nuclear power plants and sold its stake in German electricity trading and grid company Wemag.

Vattenfall supplies energy to 4.8 million customers in the Nordic countries and Northern Europe via fossil fuels, nuclear power, hydropower, wind power, biofuel and waste. It is Europe’s fifth largest generator of electricity and the largest generator of heat.

Vattenfall has been attempting to utilize more carbon dioxide neutral sources in their electricity generation. As of the third quarter of 2009, 55 percent of their electricity generation was still based on fossil fuels, 23 percent came from nuclear power, 21 percent sourced from hydropower and 1 percent generated from wind, biomass and waste.


Vattenfall bears out crisis' impact on energy

0 comments RSS Posted by Krasugir & Co at 8:34 AM

£1 million invested to build blending stations across UK

Biodiesel supplier Prestige Fuels UK has invested £1 million to construct seven blending stations across the UK. The company anticipates the creation of 50 new jobs with this investment, The Star reported.

The first of these stations is undergoing construction at Prestige Fuels’ headquarters in Dinnington. The station will have a production capacity of up to 200 million liters of blended biodiesel and petroleum diesel, which contains from 10% to 95% biodiesel.

The company also entered into exclusive supply contracts with two EN14214 biodiesel producers in the UK that use sustainable sources, such as used vegetable oil, to produce 35 million liters of biodiesel annually. Prestige Fuels would also have links to other European biodiesel producers, from which the company can source a total of 300 million liters per year.

According to Eddie O’Reilly, Managing Director of Prestige Fuels, the company needed to adopt a different approach to its sales and supply strategy in order to strengthen its position in the market. Instead of being a straightforward commodity supplier, Prestige Fuels now offers consultative agreements with its customers. The company also boasts of the high blending quality of its fully-automated, high-velocity vortex, multi-ratio fuel blending facility.

“We can now confidently say that by using EN14214 standard bio-diesel, blended correctly under high velocity, companies can become greener, reduce carbon emissions and key to all businesses save considerable sums of money in some cases up to 8p per litre off their current spend,” he added.

Prestige Fuels UK Limited is a wholesale distributor of biodiesel, which is produced to EN14214 standard. The company’s warehouse in Sheffield, South Yorkshire can hold up to 200,000 liters of biodiesel.

£1 million invested to build blending stations across UK

0 comments RSS Posted by Krasugir & Co at 8:31 AM