More than 200 industry leaders and professionals from across Canada are in Montreal for the 10th Annual Canadian Renewable Fuels Summit (CRFS), taking place from December 2-4, 2013.
Tuesday, December 3, 2013
SunEdison, a leading global solar energy services and technology provider, today announced that De Lage Landen Financial Services (DLL), a global provider of asset-based financing solutions, has increased its investment to over $100 million in a sale-leaseback fund. The fund,originally announced in December 2012, delivers financing to distributed generation solar PV projects developed by SunEdison within the United States and is expected to enable new commercial and municipal customers to realize energy savings through solar energy. The newly funded projects are scheduled for completion in 2013.
"DLL is a great partner for SunEdison and we are excited to expand our relationship with them," said Chris Bailey, Vice President of North America Structured Finance and Corporate Development. "SunEdison is focused on driving industry and company growth, maximizing the retained value of solar energy assets, and building our balance sheet to enable these goals. Our success with the initial fund and our expanded relationship with DLL contributes significantly to these goals."
|Shell technologists have been working on removing the lead from Avgas for 10 years at their dedicated Aviation laboratories.|
Xinsheng (Sheng) Zhang, Vice-President of Shell Aviation, said: "We are proud of this first for Shell Aviation. This advanced product is the latest milestone in our long history of innovation. We believe that with industry support, a stringent approvals process can be completed for this new lead-free product within a short time-frame. We look forward to working alongside our technical partners and authorities to progress the necessary approvals needed to make this product a reality for use in light aircraft engines of all types."
Fulucai Announces Signed Memorandum of Understanding to Acquire Rights to Indonesian Oil and Gas Interests
Fulucai Productions Ltd. is pleased to announce that it has entered into a Memorandum of Understanding (the "MOU") with Blue Sky Langsa Ltd. ("BSL") whereby the Company has the right to acquire certain oil and gas interests in North Sumatra, Indonesia , including offshore leases and equipment (the "Properties"). The asset is known as Langsa TAC and is a 77 square kilometer offshore concession in 325 feet of water depth, 55 kilometers from the North Sumatra shoreline. The block has 2 discovered fields, known as the L and H fields, and 7 wells. Historic sunk costs for the Langsa TAC are approximately $59.5 Million . Mobil Oil initially made the discovery in 1980.
The Company and BSL intend to enter into a formal Securities Purchase Agreement for the acquisition following accordance with normal industry standards, requisite regulatory requirements and approvals in the U.S., Canada and Indonesia . Under the terms of the agreement, the Company will acquire 100% of the shares of BSL from the BSL shareholders for $7.5 Million consisting of $1.0 million cash at closing and $6.5 Million to be paid from 15% of cash flow (net to BSL's interest) generated by Langsa TAC. At closing, BSL will hold a total of 65% interest in Langsa TAC.
XZERES Launches Wind Investment Portfolio Utilizing XZERES Turbine, Initial Orders, and Significant Backlog of Project Sites
XZERES Corp. , a global leader in distributed generation wind power systems as well as power management and power efficiency solutions, has launched an external wind investment portfolio, Gale Force Infrastructure Fund, L.P. ("Gale Force"), which includes initial orders of the XZERES 442SR 10kW wind turbine system for permitted sites, and a substantial backlog for future purchases of XZERES wind turbines.
As previously announced, XZERES and Gale Force in partnership with project developers and key investors, are actively focused on building a large distributed wind investment portfolio utilizing the XZERES 442SR 10kW turbine. This investment vehicle (FITCO), utilizing the Feed-in-Tariff Co-Operation program, creates a mutually beneficial arrangement with the land owner and will drive significant sales volumes for the company.
Western Gas Partners, LP (
NYSE: WES) today announced that it has priced its public offering of 4,500,000 common units representing limited partner interests. Western Gas Partners (the "Partnership") has granted the underwriters a 30-day option to purchase up to 675,000 additional common units. The common units were offered to the public at $61.51 per unit. The offering is expected to settle and close on December 6, 2013, subject to customary closing conditions. The Partnership expects to use the net proceeds from the offering, including any net proceeds received from an exercise of the underwriters' option to purchase additional common units, to repay all of the outstanding borrowings under its revolving credit facility and for general partnership purposes, including the funding of capital expenditures.
Iroquois Gas Transmission System, L.P. (" Iroquois ") has announced the commencement of a non-binding Open Season for its South-to-North ("SoNo") project which would allow shippers the opportunity to physically deliver natural gas to points as far north as TransCanada Pipelines Limited ("TCPL") at Waddington, NY .
As proposed, the SoNo project would transport up to 300,000 Dth/day from Iroquois' existing interconnects with Dominion Transmission in Canajoharie, NY and Algonquin Gas Transmission in Brookfield, CT , as well as the proposed Constitution Pipeline in Wright, NY. By making minor modifications to its existing system, Iroquois could achieve a November 2016 in-service date; and by leveraging existing "pipe-in-the-ground", this route reduces permitting and cost overrun risk.