Green

On the GreenBeat: $100 billion invested in solar by 2010, $6 billion Blythe solar project wins approval

Here are the top cleantech stories we’re following today on the GreenBeat:

Cleantech investment firm Good Energies and NIBC European Infrastructure Fund announced they will team with German solar company Q-Cells to form the largest operational solar photovoltaic plant in the world.  The two funds will acquire two solar plants in Germany, which will operate alongside a Q-Cells plant.

The world’s biggest solar thermal plant, the $6 billion Blythe project, has won approval from the federal government, WSJ reports. The 7,000-acre project is being developed as a joint venture between Solar Millennium and Ferrostaal on federal lands.

GE, Siemens, Mitsubishi Heavy Industries and Gamesa will invest $629 million in the U.K.’s offshore wind sector, WSJ reports. The companies were spurred on by a governmental pledge of about $95 million to upgrade its ports.

Fears of cuts in Germany’s generous solar subsidies could push down German solar stocks further, or knock the country from world dominance in the solar market, according to a Reuters analysis. The government recently made cuts in feed-in tariffs — a premium paid by utilities to generators of solar power — and could make further cuts, or impose a cap on new installations.

Solar power may become 4.2 percent of the U.S. electricity supply by 2020, according to a report from Bloomberg New Energy Finance. Investments would reach $100 billion in the next decade and boost capacity to 44,000 megawatts. Solar’s lowering costs are making the sector more appealing to investors.

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