Bank of America to Invest $2.6 Billion in Rooftop Solar

NEW YORK - Rooftop solar generation takes a giant leap forward as a consortium of companies led by Bank of America Merrill Lynch to build the largest distributed rooftop solar generation project in the world. The loan guarantee - from the Department of Energy -  supporting $1.4 billion of debt facilitates a total project size of about $2.6 billion, which is being financed entirely by the private sector over the next four years.

This distributed solar project will generate employment across 28 states and will create the equivalent of more than 10,000 full-year jobs. Once fully funded and completed, these installations are expected to provide approximately 733 megawatts (MW) of distributed solar energy, which is enough clean, renewable energy to power approximately 100,000 homes.

Solar power to supply 80 percent of General Mills energy needs

General Mills yogurt facility in Methuen, MA has completed a solar retrofit that is expected to produce 80 percent of the warehouse's warm weather power needs. The Methuen plant is the company's first U.S. facility to produce its own electricity via solar energy.

"The enthusiasm of the work force and the partnership with state and local government led the way for us to install the solar panels," said Jon Russett, energy manager in General Mills' Supply Chain operations. "General Mills is committed to continuously improving its environmental performance."

The company's investment in renewable energy extends globally. A facility in Spain now receives all of its electricity and more than 30 percent of its overall energy needs from renewable energy sources - including wind power. Closer to home, General Mills is constructing a biomass burner at an oat-milling facility in Minnesota. Using leftover oat hulls from the milling process the burner is expected to generate 90 percent of the steam needed to heat the plant and make oat flour.

"As we continue to work on sustainability across our supply chain, we remain confident that the groundwork we've laid will continue to show even more progress in the future," said Russet.

Bangladesh to receive additional $130 million for rural energy project

The World Bank has approved $130 million in financing to support rural access to energy in Bangladesh. This new funding builds on the Rural Electrification and Renewable Energy Development Credit and is targeted toward three programs for the south Asian country on the Bay of Bengal. Financing will focus on solar home systems in rural areas, compact fluorescent bulbs (CFL) and additional energy distribution networks.

With more than 250 000 rural applications worldwide solar home systems are a cost-effective way to improve rural quality of life. The plan in Bangladesh is to provide electricity to 300 000 households through solar home applications. "Many of these households in poor areas are too remote to connect to the electricity grid and would never receive electricity through conventional electrification methods,” states Rob Floyd, Acting World Bank Country Director for Bangladesh.

In areas of the country with the highest electricity demand 10 million CFLs will be distributed to replace incandescent bulbs. The Government’s long-term objective is to replace all incandescents with 30 million CFLs in the long term. “Replacing these lamps, which will be free of charge for residential consumers, is expected to reduce the peak demand by about 360 MW,” said Raihan Elahi, Senior Energy Specialist and Task Leader for the project.

Only 40 percent of Bangladesh has access to electricity and demand is growing at a rate of over 500 MW a year. Per capita electricity generation is among the lowest in the world, at about 165 kWh per year and REREDC supports the continued renovation of the electricity distribution network. The development credit provides financing for renewable energy projects that include biomass and biogas power plants among other initiatives.

The World Bank credit is additional financing for REREDC. Since 2003 REREDC has connected 600 000 consumers to the electricity grid and constructed about 8 500 km of new distribution in addition to the solar home systems.

Tuvalu hopes solar project inspires climate talks; nation sets goal of 100 percent clean energy by 2020

Amid worsening climate change-related problems for small island states, Tuvalu has established a national goal of being powered entirely by renewable energy sources by 2020.

Government officials and the donors of Tuvalu's first large-scale solar energy system alike hope the moves help inspire much larger nations later this year in negotiations of a successor to the Kyoto Protocol agreement on climate change.

The solar system installed on the roof of Tuvalu's largest football stadium now supplies 5 percent of the electricity needed by that nation's capital, Funafuti.

In its first 14 months, the operation has reduced Tuvalu's consumption of generator fuel, shipped from New Zealand, by about 17,000 litres and reduced Tuvalu's carbon footprint by about 50 tonnes.

In the process, it has also reduced the risk of diesel spills around the archipelago of four low-lying coral islands and five atolls.

Based on the project's success, the country now aims to be powered entirely by renewable energy sources by 2020, a goal requiring an investment estimated at just over $20 million, according to government estimates.

At their summit last week in Italy, the richer G8 countries committed to help finance efforts by poorer nations to battle climate change.

Tuvalu's first grid-connected, 40 kilowatt solar energy system was implemented under the leadership of Japan's Kansai Electric Power Co. with the support of the Tokyo Electric Power Company, both members of the e8, an international non-profit organisation of 10 leading power utilities from G8 countries.

"There may be other, larger solar power installations in the world but none could be more meaningful to customers than this one," says Takao Shiraishi, General Manager of the Kansai Electric Power Co.

"The plight of Tuvalu versus the rising tide vividly represents the worst early consequence of climate change," he adds. "For Tuvalu, after 3,000 years of history, the success of UN climate talks in Copenhagen this December may well be a matter of national survival."

The Tuvalu government is working to expand the initial US $410,000 e8 project from 40 to 60 kilowatts, and will extend solar power to outer islands, starting later this year with the commission of a US $800,000, 46 kilowatt solar power system for the Motufoua Secondary School in Vaitupu, being implemented with the support of the Italian government.

With a population of 12,000, Tuvalu is halfway between Hawaii and Australia, 26 square km in size, with a maximum elevation of just 4.5 meters and most of its land less than a meter above sea level.

Tuvalu is already experiencing flooding amid predictions of a large sea level rise this century.

Says Kausea Natano, Minister for Public Utilities and Industries: "We thank those who are helping Tuvalu reduce its carbon footprint as it will strengthen our voice in upcoming international negotiations. And we look forward to the day when our nation offers an example to all – powered entirely by natural resources such as the sun and the wind."

The e8's Tuvalu project was initiated after a series of regional renewable energy feasibility workshops, jointly organised by the Pacific Power Association (PPA) and the e8.

e8 members agreed to donate and install the first facility, is monitoring its success and building local expertise to ensure the project's sustainability.

Run by the state-owned Tuvalu Electricity Corporation (TEC), the system in Funafuti today powers households, healthcare facilities, small-and medium-sized enterprises and other facilities.

Johane Meagher, Executive Director of the e8, expressed thanks for the support of the Pacific Power Association, with whom the e8 has established a long term collaboration to support development of small scale projects in the Pacific Islands and strengthen the capacity of the engineers and technicians of the islands' utilities to enhance renewable energy power in the Pacific region.

Says Ms. Meagher: "We are proud of the role the e8 has played in creating this clean energy project, which was intended to generate far more than just electricity in Tuvalu. It is a message to the world about the urgent need to promote sustainable energy development and reduce greenhouse gas emissions on a massive scale."

Contact: Terry Collins
terrycollins@rogers.com
416-538-8712