18 November 2015 2015 02:40 AM GMT

Camco Reaches Deal to Sell US Biogas Assets

Camco Clean Energy has reached a conditional agreement to sell its US biogas assets for an initial consideration of US$4.6 million.

The amount could reach up to an additional $1m of deferred consideration depending on the fulfilment of certain conditions. Under the terms of the agreement, the company has conditionally agreed to sell its entire interests in AG Power Jerome, which owns the Jerome biogas facility and AG Power, which owns the Twin Falls facility, to Clean Power Holdings, a developer of anaerobic digestion biogas assets in the US for initial consideration of US$18.9 million less associated debt of approximately US$14.3 million.

Initial consideration, after taking account of the related debt, is US$4.6 million of which US$2 million will be settled in cash on completion and the remaining $2.6 million to be settled in cash within 12 months from the date of completion.

On 30 September, the company announced that following completion of the roll-in of the minority interests in Renewable Energy Dynamics Holdings, its RedT Energy Storage business would become the primary focus for Camco.

It also announced that it would continue with its Africa Fund Advisory business and was continuing to progress the ongoing strategic review of its remaining US activities. Through the strategic review, Camco’s board has concluded that it is in the best interests of the company to pursue the transaction so as to provide additional resource to enable further investment in the RedT Energy Storage.

Under the terms of the agreement, the company has conditionally agreed to sell its entire interests in AG Power Jerome, which owns the Jerome biogas facility and AG Power, which owns the Twin Falls facility, to Clean Power Holdings, a developer of anaerobic digestion biogas assets in the US for initial consideration of US$18.9 million less associated debt of approximately US$14.3 million. Initial consideration, after taking account of the related debt, is US$4.6 million of which $2 million will be settled in cash on completion and the remaining $2.6 million to be settled in cash within 12 months from the date of completion.

 

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

November 27th 2018
Solar And Wind Provide 100% Of New Generating Capacity Additions In September

US – According to an analysis by the SUN DAY Campaign of data just released by the Federal Energy Regulatory Commission (FERC), solar and wind were the only energy sources adding new capacity to the U.S. electricity generation mix in September. Three “units” of new wind accounted for 363-MW while nine units of solar provided 339-MW.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 9th 2019
Arsenal Unveil Battery Storage System: First Of Its Kind At A UK Football Club

Arsenal Football Club has unveiled a battery storage system (BSS) to store enough energy to run the 60,000 seater Emirates Stadium from kick-off to full time. It follows a unique collaboration with Pivot Power to install a 2MW/2.5MWh lithium ion BSS, with funds managed by Downing LLP. The project, the first of its kind in the UK, will also save club money as it works to support low-carbon plans. The BSS allows Arsenal to avoid peak power prices, buying electricity when it is cheap and storing it for use when prices are high. Typically, energy can cost three times more at peak times than overnight. The installation maintains Arsenal as the leader in sustainability in sport following its commitment to clean energy with Octopus Energy in 2016.

solar energy qmqr18