THE FRIDAY NOTE: Pattern Energy starts USD-290m IPO and the rest of the week's top picks

Sep 13, 2013 - This week US wind farm operator Pattern Energy kicks off USD-290-million IPO, Audit Scotland says the country needs 1,250 MW of renewable capacity per year and Brunei unveils plans for FiTs, while Europe approves 6% cap on first-generation biofuel use.

US wind and transmission company Pattern Energy on Monday unveiled the start of its initial public offering (IPO), seeking to raise USD 290 million (EUR 218.5m) net. The proceeds will finance the company’s initial portfolio of wind assets to be transferred by a shareholder. They will be also used to pay down a revolving credit line and for general corporate needs.

More details on: http://renewables.seenews.com/news/pattern-energy-launches-usd-290m-ipo-376754

FIRST WIND BOOKS 1.5 GW ON SUNZIA TRANSMISSION LINE

Remaining on the US wind wave, SunZia Transmission LLC said last Friday that wind farm developer First Wind had reserved 1,500 MW of transmission capacity for New Mexico wind farms on the SunZia Southwest Transmission Project. The transmission project includes 500-kV transmission lines between Arizona and New Mexico for a total capacity of as many as 3,000 megawatts. First Wind's executive vice president and chief development officer, Kurt Adams, said the company could speed up work on the wind farm project in Central New Mexico as soon as SunZia resolved its siting issues.

More details on: http://renewables.seenews.com/news/first-wind-books-1-5-gw-on-sunzia-transmission-line-376655

CALIFORNIA ASSEMBLY PASSES PRO-RENEWABLES BILL

Good news from the US renewables sector kept coming this week. On Thursday, the California State Assembly gave the go-ahead to a bill that would allow the California Public Utilities Commission (CPUC) to lift the 33% renewable share requirement for utilities, among other provisions. Governor Jerry Brown will now have the final say on the legislation, AB 327, which also preserves California’s net metering programme -- a mechanism that allows owners of solar systems to get compensations for the power they feed to the grid.

More details on: http://renewables.seenews.com/news/california-assembly-passes-pro-renewables-bill-377568

SCOTLAND NEEDS 1.25 GW/YEAR OF NEW RENEWABLES TO MEET 2020 GOAL

Across the Atlantic, a new Audit Scotland report showed Thursday that Scotland would not reach its ambitious 2020 renewable energy target unless yearly capacity additions between 2015 and 2020 reach 1,250 MW. If capacity addition rates remain at the level of the past five years, or around 634 MW per year, the government will at least reach its interim target of sourcing 50% of the electricity Scotland uses from renewables.

More details on: http://renewables.seenews.com/news/scotland-needs-1-25-gw-year-of-new-renewables-to-meet-2020-goal-377365

EUROPEAN PARLIAMENT WANTS 6% CAP ON 1ST-GENERATION BIOFUELS

Wednesday was the day for an important decision -- The European Parliament voted in favour of a proposal to limit the use of first-generation biofuels in the European Union (EU) to only 6% of the final energy consumption in transport by 2020. One of the main arguments supporting the 6% cap is that first-generation biofuels require land and thus result in deforestation in some regions, which actually contributes to the rise of greenhouse gas emissions. The proposed legislation also calls for a minimum 2.5% share for advanced biofuels, those made from seaweed or waste, in energy consumption in transport by the end of the decade.

More details on: http://renewables.seenews.com/news/european-parliaments-wants-6-cap-on-1st-generation-biofuels-377214

BRUNEI MAY INTRODUCE FITS IN 2 YEARS

Last but not least, the Borneo Bulletin said Monday that the Brunei government may launch feed-in tariffs (FiTs) for renewable power in 18 to 24 months. The information came from Energy Minister Awang Haji Mohammad Yasmin bin Haji Umar. The results of a local workshop and these of a study that is being carried out by the Energy Department and the Brunei National Energy Research Institute (BNERI) are to help shape up any FiT policy and see if it will work “in a Bruneian context”.

More details on: http://renewables.seenews.com/news/brunei-may-introduce-fits-in-2-years-report-376524

(USD 1 = EUR 0.754)

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