Instruction: create a high quality summary of the given input

Input:
US biodiesel production increases despite tax credits cut
 EIA: US biodiesel production still increasing despite expiration of tax credit

Through the first nine months of 2017, US biodiesel production levels were slightly higher than 2016 levels, despite the expiration of a federal biodiesel blender's tax credit at the end of 2016. Domestic biodiesel production may continue to increase because of changes to import policies such as those recently announced by the US Department of Commerce on biodiesel imports from Argentina and Indonesia.

Biodiesel production increased over time largely because of state and federal incentives. The federal biodiesel blender's tax credit, valued at $1/gal, expired several times prior to 2016, most recently at the end of 2014. In those earlier years, Congress ultimately voted to reinstate the tax credit retroactively.

Biodiesel qualifies as an advanced biofuel as part of the Renewable Fuel Standard (RFS), a program implemented by the US Environmental Protection Agency (EPA) to promote the incorporation of biofuels into the nation’s fuel supply. To demonstrate compliance with the RFS, refiners and importers of petroleum products must either blend advanced biofuels such as biodiesel or buy credits called renewable identification numbers (RINs).

Biodiesel is often combined with petroleum diesel in blends ranging from 5% to 20% biodiesel. On average, biodiesel accounted for about 4% of total diesel consumption in 2016. Similar to corn ethanol, biodiesel production is concentrated in the Midwest and delivered by rail and truck across the country.

Since 2014, foreign biodiesel imports—primarily from Argentina and Indonesia—have increased in the East Coast and Gulf Coast regions. In 2016, biodiesel imports from Argentina reached 449 MMgal and accounted for nearly 20% of US biodiesel consumption.

However, in April 2017, the US Department of Commerce (DOC) initiated two investigations into whether biodiesel imports from Argentina and Indonesia put US biodiesel producers at a disadvantage. The two investigations have focused on countervailing duties—when a foreign government provides subsidies for the production of a product—and antidumping—when a foreign government sells a product at less than its fair value.

In November, the DOC issued an affirmative final determination on countervailing duties for Argentina and Indonesia, assigning rates ranging from 34% to 72%, based on the producer or importer of biodiesel. The US International Trade Commission reached a similar finding in December, allowing for DOC to issue final countervailing duty orders.

Depending on the outcome of the antidumping investigation, the combined effect of the final orders may more than double the price of biodiesel from these two countries.

In response to the investigations, new US contracts for cargos of biodiesel from Argentina and Indonesia have slowed. Imports from Argentina remained relatively high through August 2017 because of contracts that were already in place prior to the investigations, but these imports ended as of September 2017. Biodiesel imports from Indonesia last occurred in December 2016. Imports from these countries are likely to remain low unless a settlement is reached or US biodiesel prices rise to offset the final duties.

US biodiesel consumption in 2016 totaled 2,189 MMgal, of which 1,569 MMgal (72%) were produced domestically. US biodiesel facilities ran at 69% of nameplate capacity during 2016. Annual production capacity at the beginning of 2016 totaled 2,270 MMgal.

US biodiesel production capacity has since increased slightly to 2,348 MMgal as of September 2017, but the pace at which biodiesel facilities might increase production to address possible supply shortfalls from reduced imports is unclear.

Biodiesel is typically more expensive than petroleum-based diesel, so the loss of lower-cost imports from Argentina and Indonesia might further decrease its price competitiveness. During 2016, the average spot price of Gulf Coast biodiesel was $3.17/gal, which was $1.85/gal higher than its petroleum counterpart.

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Output: Biodiesel production levels in the US rose in the first three-quarters of this year, despite the end of tax incentives. Production capacity from January to September was 2,348 million gallons, compared with 2,270 million gallons at the start of 2016. State and federal incentives such as the now-expired biodiesel blender's tax credit of $1 a gallon sent biodiesel production climbing. It could continue to rise thanks to US Department of Commerce policy changes on biodiesel imports from Argentina and Indonesia.


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Input:
US biodiesel production increases despite tax credits cut
 By: AJOT | Dec 15 2017 at 09:35 AM | Intermodal

Source: U.S. Energy Information Administration, Monthly Biodiesel Production Report

Source: U.S. Energy Information Administration, Monthly Biodiesel Production Report, Petroleum Supply Monthly

Source: U.S. Energy Information Administration, Monthly Biodiesel Production Report, Petroleum Supply Monthly

Through the first nine months of 2017, U.S. biodiesel production levels were slightly higher than 2016 levels, despite the expiration of a federal biodiesel blender’s tax credit at the end of 2016. Domestic biodiesel production may continue to increase because of changes to import policies such as those recently announced by the U.S. Department of Commerce on biodiesel imports from Argentina and Indonesia. Biodiesel production increased over time largely because of state and federal incentives. The federal biodiesel blender’s tax credit, valued at $1 per gallon (gal), expired several times prior to 2016, most recently at the end of 2014. In those earlier years, Congress ultimately voted to reinstate the tax credit retroactively. Biodiesel qualifies as an advanced biofuel as part of the Renewable Fuel Standard (RFS), a program implemented by the U.S. Environmental Protection Agency (EPA) to promote the incorporation of biofuels into the nation’s fuel supply. To demonstrate compliance with the RFS, refiners and importers of petroleum products must either blend advanced biofuels such as biodiesel or buy credits called renewable identification numbers (RINs). Biodiesel is often combined with petroleum diesel in blends ranging from 5% to 20% biodiesel. On average, biodiesel accounted for about 4% of total diesel consumption in 2016. Similar to corn ethanol, biodiesel production is concentrated in the Midwest and delivered by rail and truck across the country. Since 2014, foreign biodiesel imports—primarily from Argentina and Indonesia—have increased in the East Coast and Gulf Coast regions. In 2016, biodiesel imports from Argentina reached 449 million gallons and accounted for nearly 20% of U.S. biodiesel consumption. However, in April 2017, the U.S. Department of Commerce (DOC) initiated two investigations into whether biodiesel imports from Argentina and Indonesia put U.S. biodiesel producers at a disadvantage. The two investigations have focused on countervailing duties—when a foreign government provides subsidies for the production of a product—and antidumping—when a foreign government sells a product at less than its fair value. In November, the DOC issued an affirmative final determination on countervailing duties for Argentina and Indonesia, assigning rates ranging from 34% to 72%, based on the producer or importer of biodiesel. The U.S. International Trade Commission reached a similar finding in December, allowing for DOC to issue final countervailing duty orders. Depending on the outcome of the antidumping investigation, the combined effect of the final orders may more than double the price of biodiesel from these two countries.In response to the investigations, new U.S. contracts for cargos of biodiesel from Argentina and Indonesia have slowed. Imports from Argentina remained relatively high through August 2017 because of contracts that were already in place prior to the investigations, but these imports ended as of September 2017. Biodiesel imports from Indonesia last occurred in December 2016. Imports from these countries are likely to remain low unless a settlement is reached or U.S. biodiesel prices rise to offset the final duties.U.S. biodiesel consumption in 2016 totaled 2,189 million gallons, of which 1,569 million gallons (72%) were produced domestically. U.S. biodiesel facilities ran at 69% of nameplate capacity during 2016. Annual production capacity at the beginning of 2016 totaled 2,270 million gallons. U.S. biodiesel production capacity has since increased slightly to 2,348 million gallons as of September 2017, but the pace at which biodiesel facilities might increase production to address possible supply shortfalls from reduced imports is unclear. Biodiesel is typically more expensive than petroleum-based diesel, so the loss of lower-cost imports from Argentina and Indonesia might further decrease its price competitiveness. During 2016, the average spot price of Gulf Coast biodiesel was $3.17/gal, which was $1.85/gal higher than its petroleum counterpart.

Output: Biodiesel production levels in the US rose in the first three-quarters of this year, despite the end of tax incentives. Production capacity from January to September was 2,348 million gallons, compared with 2,270 million gallons at the start of 2016. State and federal incentives such as the now-expired biodiesel blender's tax credit of $1 a gallon sent biodiesel production climbing. It could continue to rise thanks to US Department of Commerce policy changes on biodiesel imports from Argentina and Indonesia.


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HSBC, AXA launch online insurance platform in Hong Kong
 [ET Net News Agency, 18 December 2017] HSBC and AXA Hong Kong today jointly announced

the launch of an online packaged general insurance platform for business customers in Hong

Kong.

Through this platform, customers from a wide range of local companies are able to apply

for commercial packaged insurance with instant quotes, covering startups, office assets

and retailer protection.

This platform features an automated process to identify risks that concern business

customers and for which AXA Hong Kong can provide immediate cover. (KL)

Output: HSBC and AXA Hong Kong have partnered to launch an online platform offering packaged insurance for a range of local businesses, from start-ups to established offices and retailers. As well as including instant quotes, the platform includes automated risk identification.


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American Family widens data analytics, AI with Networked purchase
 American Family Insurance said it intends to accelerate its use of data, advanced analytics and artificial intelligence (AI) with its purchase of Chicago-based data and analytics software company Networked Insights.

American Family is a Networked Insights client and has been a minority investor in the company since 2013, increasing its investment over time. With the acquisition, American Family became its sole owner. The purchase price is not being disclosed.

The insurer has been investing in technology and data platforms for the past three years including through its own data science and analytics lab, a strategic data analytics division, an innovation team and collaborative data-science projects with the University of Wisconsin.

American Family said it has also acquired HomeGauge, a home inspection software company with 21 employees, based in Asheville, North Carolina.

American Family Chairman and CEO Jack Salzwedel said the Networked Insights acquisition allows it to strengthen its agency distribution and build on its current advanced analytics capabilities to improve how it serves customers.

“These investments are part of our commitment to innovation through the use of data analytics and artificial intelligence for our customers and in ways that complement and improve the personal service we deliver to them,” said Peter Gunder, American Family Insurance chief business development officer, in prepared remarks.

Networked Insights uses artificial intelligence and machine learning to understand what is relevant to people, allowing companies target their audiences with their preferred content and media. A 2015 Networked Insights study of social media posts of millennials found that when millennials share financial concerns online their anxiety decreases significantly even when a purchase or transaction is a completely new experience.

“The insurance company of the future will be all about using data analytics to enhance the customer experience and be a trusted brand,” said Networked Insights founder and Chief Executive Officer Dan Neely, who praised American Family for doing a “remarkable job at building a trusted brand.”

In addition to its Chicago headquarters, Networked Insights also has operations in New York City and Madison, Wisconsin, where American Family is headquartered.

The companies said that Networked Insights will operate as a stand-alone subsidiary of American Family Insurance. In addition to serving its customers, Networked Insights employees will collaborate with American Family data scientists on projects using advanced analytic capabilities to improve customer interactions and business value.

According to the firms, all 74 Networked Insights employees including Neely and Gerry Komlofske (president and chief operating officer) will continue in their positions with the company. Neely will also join the American Family senior executive team.

American Family’s venture capital arm, American Family Ventures, has been active in supporting technology-focused insurance and risk management startups including Ring’s home security system; CoverHound’s auto insurance quoting system; Hover, which creates 3D models of properties; One, a cloud-based insurance payments platform; Leaselock, a rent payment insurance platform; and Katasi, a tool to prevent texting while driving.

American Family is among a number of carriers that have developed service packages for automated home monitoring. Concerning its acquisition of home inspection software firm HomeGauge, the insurer said the aggregate information HomeGauge provides will enable it to enhance its role in this area.

American Family is also an investor in Bunker, a startup digital insurance broker focused on independent contractors.

A year ago, policyholders approved the conversion of 90-year old American Family from a mutual to a mutual holding company, providing the company with the additional flexibility to invest or acquire non-insurance companies or other mutual insurance companies.

The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, primarily through exclusive agents in 19 states. Two affiliates, The General and Homesite, also sell directly to consumers over the internet or by phone.

Topics Mergers & Acquisitions InsurTech Tech Data Driven Artifical Intelligence

Output: American Family Insurance has acquired Networked Insights as it seeks to expand its use of data analytics and artificial intelligence (AI). The insurer has been a minority investor since 2013 in the Chicago-based data analytics firm, which uses AI and machine learning to help customers target audiences with content. American Family has been investing in technology for the past three years and its latest acquisition will help bolster its agency distribution and build on existing analytics capabilities, said CEO Jack Salzwedel.


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Major brands fail to pay workers when factories shut
 16 December 2017

Despite massive profits, big fashion brands refuse to pay workers after factory closures

Garment workers and activists unite in global actions against wage theft

Unpaid garment workers demand justice: messages to shoppers found in clothes in Marks and Spencer, Next and Zara

Over the weekend, while festive shoppers across the UK browse clothing stores, they are also discovering messages from garment workers seeking help.

The messages being found by shoppers in clothes in Marks and Spencer, Next and Zara stores say: “I made the item you are about to buy, but I didn’t get paid for making it”.

Elsewhere in the world, notes are also appearing in stores of Mango, Uniqlo, Adidas, Mizuno and Nygard. The messages are from workers in Cambodia, Turkey and Indonesia who are all owed money for making clothes for these fashion industry giants. In four discrete instances between 2012 and 2016, workers saw their factories suddenly close, even overnight, leaving them jobless and owed months of back wages and severance payments.

These factory closures (Chung Fai factory in Cambodia; Bravo factory in Turkey; PT PDK and Jaba Garmindo factories in Indonesia) were often preceded by major buyers cutting off orders, without warning or explanation to the workforce, most of them women. The consequences for the workers and their families have been dire.

Hikmet, who used to work at the Bravo Tekstil factory in Turkey – which produced clothing for Next, Zara and Mango – until it closed, says: “I haven’t been able to pay my rent for four months. I cannot pay my debts. I am in a desperate situation.”

Each of the brands involved, despite collectively earning billions in annual profit, are refusing to pay the workers from these factories their back wages and severance – money they earned over many years of working hard and long hours to produce clothes for these brands. Labour Behind the Label and the Clean Clothes Campaign believe that to deny these workers their payment is tantamount to wage theft, and call on all the brands involved to ensure these workers receive what they are owed.

Kokom Kolomawati, a former worker of the PT PDK factory in Indonesia, says: ¨International standards, like the UN Guiding Principles on Business and Human Rights, are crystal clear – brands retain full responsibility for their supply chains and must ensure that we are paid what we rightfully earned and are now owed.¨

In the week between 14 and 20 December 2017 activists and workers are joining together in actions around the world calling for these brands to end wage theft and urging consumers to support these campaigns for justice. Message drops and protest actions are happening in over nine countries including Indonesia, Japan, Turkey, Germany, the United Kingdom, Switzerland, the Netherlands, Canada, and Hong Kong.

Teddy Senadi Putra, of Labour Union PUK SPAI FSPMI, formerly at PT Jaba Garmindo says: ¨The Uniqlo fortune is built from workers’ sweat, like ours, all over the world. For the 2017 fiscal year, Uniqlo had an operating profit of 176.4 billion Yen (2.05 billion EUR). They can easily afford to pay us what little amount we earned and now need. Brands need to realise that with power comes responsibility: they are more than just buyers. Brands are employers and garment workers are more than just disposable assets.¨

In a letter sent in September 2017 to brands Marks and Spencer, Nygard and Bonmarche, major buyers of the now closed Chung Fai factory in Cambodia, workers wrote: “We are your workers, and we are human beings! Some of us have worked at the factory since 1998. Instead of receiving legal severance and indemnity for our years of service, now we are broke and in debt. We shouldn’t have to keep living like this. Our cheap labour has helped you to profit. We are simply asking you to make sure we get what is legally ours.”

Over the 2017 fiscal year, Marks and Spencer generated an operating profit of 690.6 million GDP (784.7 million EUR).

Ends

Background

Sudden and unexpected factory closures seems to be a growing trend in the global garment industry. A particular challenge for workers is when factories go bankrupt following the withdrawal of orders from major brands since few countries have legal processes that prioritise debts to workers over other creditors, or legal systems that recently unemployed workers are able to readily access.

There are important precedents of brands taking responsibility for workers in their supply chain after a factory closure. In late 2012, nearly 200 garment workers at the Kingsland factory in Cambodia were deprived of their severance pay after the factory abruptly closed its doors. The workers started a month-long vigil and protest camp in front of the factory to prevent the factory’s assets from being stripped. This resulted in a historic settlement with Walmart and H&M in March 2013.

Similarly, after two years of international solidarity, adidas reluctantly agreed in 2014 to compensate 2,800 Indonesian garment workers who were owed US $1.8 million in severance pay following the closure of sportswear factory PT Kizone in Indonesia. Adidas is now involved in the PT PDK factory closure case.

Notes for editors

For more information on the Chung Fai factory closure in Cambodia involving Marks & Spencer, Bonmarche and Nygard, see: latest press release: M&S, Bonmarché and Nygård should compensate Cambodian workers after factory closure and campaign page

For more information on the Bravo factory closure in Turkey, involving Inditex (Zara), Mango and Next, see: latest press release: Zara, Next, Mango Slammed for Leaving Workers Without Wages in Turkish Factory and Bravo workers´ campaign petition

For more information on the PT PDK factory closure in Indonesia, involving adidas and Mizuno, see: latest press release: Top global sports brands adidas and Mizuno shamefully defy international standards on workers’ rights in Indonesia

For more information on the Jaba Garmindo factory closure in Indonesia, involving Uniqlo and other brands, see: latest press release: Pressure grows on Uniqlo CEO to fulfill debt owed to workers; and campaign page

Labour Behind the Label campaigns for garment workers’ rights worldwide. We support garment workers’ efforts to improve their working conditions and change the fashion industry for the better. We raise awareness, provide information and promote international solidarity between workers and consumers.

Labour Behind the Label is the UK platform of the Clean Clothes Campaign. The Clean Clothes Campaign (CCC) works to improve conditions and support the empowerment of workers in the global garment industry. The CCC has national campaigns in 15 European countries with a network of 250 organisations worldwide.

Please see www.labourbehindthelabel.org and www.cleanclothes.org for further information.

Output: Fashion brands including Marks and Spencer, Next and Zara have refused to pay workers following factory closures, according to not-for-profit group Labour Behind the Label (LBL). The organisation said that customers in the UK and other countries have found notes inside garments reading, “I made the item you are about to buy, but I didn’t get paid for it”. The messages are from workers in Cambodia, Indonesia and Turkey who claim that they are owed money after the factories in which they worked closed between 2012 and 2016, allegedly after major buyers stopped orders.


Instruction: create a high quality summary of the given input

Input:
Major brands fail to pay workers when factories shut
 BRISTOL – Labour Behind the Label (LBL) has claimed that fashion brands Marks and Spencer, Next and Zara are refusing to pay their workers after factory closures. LBL has reported consumers finding messages in garments in the stores across the UK and other countries.

The messages reportedly read “I made the item you are about to buy, but I didn’t get paid for it”. Similar notes have been found in Mango, Uniqlo, Adidas, Mizuno, and Nygard.

Output: Fashion brands including Marks and Spencer, Next and Zara have refused to pay workers following factory closures, according to not-for-profit group Labour Behind the Label (LBL). The organisation said that customers in the UK and other countries have found notes inside garments reading, “I made the item you are about to buy, but I didn’t get paid for it”. The messages are from workers in Cambodia, Indonesia and Turkey who claim that they are owed money after the factories in which they worked closed between 2012 and 2016, allegedly after major buyers stopped orders.


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Input:
10 GW of natural gas peakers at risk from solar-plus-storage
 Natural-gas peaker plants may soon be under threat in a very real way.

“I can’t see a reason why we should ever build a gas peaker again in the U.S. after, say, 2025,” said Shayle Kann, a senior adviser to GTM Research and Wood Mackenzie, speaking at Greentech Media’s Energy Storage Summit. “If you think about how energy storage starts to take over the world, peaking is kind of your first big market.”

The data shows a very clear trend.

Today, lithium-ion batteries are competitive with natural-gas peaker plants in select cases. In a few years, competition will intensify across the country. And with costs only headed downward, Kann called overtaking peakers “a sweet spot” for battery dominance across the U.S.

Source: GTM Research/Wood Mackenzie

In four years, new natural-gas peakers will become increasingly rare. In 10 years, it's possible they'll stop getting built altogether.

“Peakers are expensive. Energy storage should be really good at displacing a peaker, and also you can use multiple values,” said Kann. “But not even incorporating the multiple values, energy storage is starting to get very close to the point where it can just beat a gas peaker, head-to-head, purely on an economic basis. A decade from now, energy storage always wins.”

Over the next 10 years, the U.S. needs to add 20 gigawatts of peaking capacity to its grid. Over half of that capacity will come on-line in the latter part of the decade: 7,440 megawatts between 2018 to 2020 compared to 12,645 megawatts between 2023 and 2027. That gives energy storage more time to build an economic advantage.

If technology changes faster than expected, the economic argument for storage becomes more compelling.

GTM Research/Wood Mackenzie

While the U.S. market includes less than a gigawatt of storage today, it will replace a third of peakers under a base-case scenario in the next decade. If the market grows faster, storage may replace nearly half of those 20 gigawatts of peaking capacity.

“Time and time again in adjacent sectors like solar, and even in energy storage, technology costs have the capacity to fall faster than almost anybody expects,” said Kann. “Including us.”

These changes are catching regulators off guard. The most recent example: the California Energy Commission's decision to reconsider a gas peaking plant planned for Oxnard.

The California Independent System Operator found the peaker plant would be more expensive than storage -- in an analysis that used prices from 2014. After GTM pointed out the discrepancies between those costs and current industry pricing, NRG Energy, the plant’s developer, suspended its construction application.

That project isn’t completely dead, but the suspension leaves an opening for clean alternatives to meet the capacity need instead.

In South Australia, the need for grid stability and renewables integration prompted the installation of a 100-megawatt Tesla battery in record time. Tesla brought that battery on-line last month.

Gas peakers will still get developed in South Australia. But Tesla's battery could be a sign of things to come.

A report on the two projects from Wood Mackenzie and GTM Research found that batteries -- both alone or paired with renewables -- are not yet competitive with gas peaking plants in that region. But they’re on their way. In 2025, analysts project that standalone and renewable-hybrid batteries will beat out open-cycle gas turbine plants for meeting peak load.

Every year, said Kann, storage is closing in on that economic “sweet spot” that will allow it to beat out peakers.

Want to watch the rest of GTM's Storage Summit this week? Watch the livestream here.

Output: Solar power plus energy storage is cheap enough to compete with natural gas peaker plants in some markets and about half of the 20 GW of peaking capacity that the US needs to build over the next decade may be replaced by batteries, said Shayle Kann, a senior adviser to GTM Research and Wood Mackenzie. In four years' time, gas peakers will be increasingly rare, and there may be no case for them at all within a decade, he said. There is currently about 1 GW of energy storage in the US.


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Enel granted $2.1m for Massachusetts energy storage projects
 Enel has won grants totalling $2.1m for two distributed energy storage projects in Massachusetts.

The money has been awarded as part of the Advancing Commonwealth Energy Storage initiative, which is administered by the Massachusetts Clean Energy Center.

The first project is a partnership between Enel Green Power North America and the University of Massachusetts Boston for a behind-the-meter micro-grid comprising a 0.5MW lithium-ion energy storage system integrated with a 0.5MW solar project.It will be deployed at the University’s campus in Boston and has been awarded $850,000.The second project is Enel subsidiary EnerNoc’s plan to deploy a 2MW storage system at the Acton Boxborough Regional School District. It has been awarded $1.2m.Both projects will be managed through the Den.Ostm software, developed by Enel’s US subsidiary Demand Energy Networks.Enel X head Francesco Venturini said: “We are very glad to work with the Commonwealth of Massachusetts and our project partners to explore how storage can best deliver long-term value to utilities and local communities.”Enel X is brand name for Enel’s global e-business solutions unit.

Output: Enel has been awarded $2.1m of grants for two distributed energy storage projects in Massachusetts as part of the Advancing Commonwealth Energy Storage initiative. The first project is a partnership between Enel Green Power North America and the University of Massachusetts Boston for a behind-the-meter micro-grid comprising a 0.5 MW lithium-ion energy storage system integrated with a 0.5 MW solar project. The second project is Enel subsidiary EnerNoc’s plan to deploy a 2 MW storage system at the Acton Boxborough Regional School District.


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Total Eren to build 70 MW Indonesian wind farm
 Renewables developer Total Eren today said it has signed a letter of intent (LoI) with Indonesian government-owned power utility PT Perusahaan Listrik Negara (PLN) for a 70-MW wind project.

The LoI calls for PLN to purchase electricity from the Tanah Laut project, which will be financed, built and operated by Total Eren. The wind farm will be located in Tanah Laut, on Kalimantan, the Indonesian part of Borneo island.

Total Eren got is name just days ago when French oil and gas group Total SA (EPA:FP) concluded the purchase of a 23% interest in EREN Renewable Energy (EREN RE).

According to the announcement, this is the first wind project to be signed under new Ministry of Energy regulation in Indonesia, issued in August 2017 and designed to reduce electricity generation cost.

General Electric Co (NYSE:GE) is the preferred technology supplier for the project. The US group has assisted in the project design and carried out the grid connection study. The wind resource at site has been confirmed by 20-month wind data gathered by Total Eren's Jakarta-based subsidiary PACE Energy.

Total Eren said it is developing several other greenfield wind projects in Indonesia.

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Output: Total Eren, the renewable-energy company in which French energy major Total recently took a stake, said it has signed a letter of intent with Indonesian government-owned power utility PT Perusahaan Listrik Negara for a 70 MW wind farm. The project will be located in Tanah Laut, on Kalimantan, the Indonesian part of Borneo island.


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Innogy raises capex as decision nears on 860 MW UK offshore project
 Innogy SE (ETR:IGY) will step up capital spending in 2018, the German energy company said today as it warned that 2017 adjusted EBITDA and EBIT will be lower than previously expected.

The company plans a capex budget of more than EUR 3 billion (USD 3.5bn) for 2018, an increase of over 25% from this year's expected level, as it intends to invest more in future-oriented business areas like e-mobility, renewable energy and broadband. The 860-MW Triton Knoll offshore wind project in the UK, final investment decision on which is expected in mid-2018, will be a major capex target, Innogy said.

The company lowered its guidance for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in 2017 to about EUR 4.3 billion from around EUR 4.4 billion. The adjusted EBIT estimate was also reduced to about EUR 2.8 billion from EUR 2.9 billion. Innogy said the main reason is difficult market environment in the UK retail business. There have also been higher costs for future-oriented projects such as digitisation and expenses for growth initiatives like e-mobility.

Adjusted net profit is still expected to exceed EUR 1.2 billion, but not much.

In 2018, the company expects adjusted EBIT of about EUR 2.7 billion. It said the renewables division will post earnings in line with 2017, thus an adjusted EBIT of about EUR 350 million.

"High growth ambitions initially come at a price, but pay off in the long run," chief executive Peter Terium said, adding that the company is at the same time making all its divisions fit for the digital future. "Even if this will weigh on our earnings short-term, I am convinced that this is the right strategy for setting up innogy optimally for the future – entirely in the interests of our shareholders, customers and employees," the CEO said.

(EUR 1 = USD 1.175)

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Output: Innogy, the renewable-energy business spun off by RWE, will increase capital spending in 2018 by more than a quarter to €3bn ($3.5bn) after warning that 2017 adjusted EBITDA and EBIT will be lower than previously expected. The 860 MW Triton Knoll offshore wind project in the UK, for which the final investment decision is expected in mid-2018, will be a major capex target, Innogy said. It plans to increase spending on e-mobility, renewable energy and broadband, it said.


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ReNew Power Ventures buys 103 MW of Indian wind projects
 Indian independent power producer ReNew Power Ventures Pvt Ltd has acquired KCT Renewable Energy Pvt Ltd, the owner of 103 MW of operational wind parks in Andhra Pradesh.

The acquisition from Karm Chand Thapar (KCT) Group has been confirmed by a ReNew Power executive, consultancy Mercom Capital said on Wednesday. The value of the deal, which is part of the power producer’s growth plan, exceeds INR 10 billion (USD 155m/EUR 131.6m).

The transaction included three wind parks that are selling their output at a tariff of INR 4.80 per kWh under 25-year power purchase agreements (PPAs). The unnamed executive was cited as saying that ReNew Power now has wind power assets of over 1,300 MW, some 200 MW of which are located in Andhra Pradesh.

ReNew Power is majority owned by Goldman Sachs Group Inc (NYSE:GS). Among its other investors are the Asian Development Bank, Japanese power company JERA Co Inc and Abu Dhabi Investment Authority. Last month, the Canada Pension Plan (CPP) Investment Board also joined the list.

(INR 10 = USD 0.156/EUR 0.132)

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Output: India's largest independent power producer ReNew Power Ventures has acquired KCT Renewable Energy, owner of 103 MW of operational wind parks in Andhra Pradesh, from Karm Chand Thapar Group for INR10bn ($155m). The deal includes three wind parks that are selling their output at a tariff of INR4.80 per kWh under 25-year power purchase agreements. ReNew Power now has wind power assets of over 1,300 MW, about 200 MW of which are in Andhra Pradesh.


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US Geothermal buys out Goldman Sachs stake in Idaho plant
 US Geothermal Inc (NYSEAMERICAN:HTM) on Wednesday said it will own 100% of the Raft River geothermal power plant in southern Idaho after agreeing to acquire Goldman Sachs' (NYSE:GS) remaining ownership interest.

The facility, in operation since 2008, is a single, 18-MW (gross) module with a design output of 13 MW (net) annual average. US Geothermal acquired from its project partner Goldman Sachs the majority of the latter's cash flow interest in and ownership of the project in December 2015.

The company will purchase Goldman Sachs' remaining interest for USD 350,000 (EUR 295,000), with the deal to close on January 2, 2018.

"The acquisition of this remaining interest in Raft River will be immediately accretive to the Company, and further enables us to implement capital upgrades to increase output from the facility," said interim chief executive Douglas Glaspey.

The project has a 25-year power purchase agreement (PPA), signed in 2007, with the Idaho Power Company for the sale of up to 13 MW on an annual average basis.

In 2017 the average generation from the facility was increased by about 1.6 MW net via the addition of production well RRG-5, as well as upgrades to the injection system. The company is looking at increasing the capacity of production pump RRG-4 in 2018, which is expected to lead to generation increase of 0.6 MW to 0.7 MW net.

(USD 1 = EUR 0.843)

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Output: US Geothermal said it will buy the remaining interest in the Raft River geothermal power plant in southern Idaho from Goldman Sachs for $350,000. The facility, in operation since 2008, is a single, 18 MW module with a design output of 13 MW annual average. The project has a 25-year power purchase agreement, signed in 2007, with the Idaho Power Company for the sale of up to 13 MW on an annual average basis.


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US solar module sales company ET Solar files for bankruptcy
 It’s a strange time for a PV module sales company to be filing for bankruptcy, given that the price of solar panels has surged in recent months while developers buy up available supply in advance of a ruling by the Trump Administration on the Section 201 case.

Nevertheless, on December 4 ET Solar Inc., based in Pleasanton, California, filed for chapter 11 bankruptcy in federal courts. The company claims less than $50,000 in assets but $10-50 million in debts. Over $10 million is owed to three other ET Solar entities in China and Hong Kong, however three other companies are owed at least $2 million each.

No reason has yet been provided and little is known. ET Solar Inc. has been notified by the court that it has failed to file many of the required documents, including a summary of assets and liabilities, a statement of financial affairs, and a statement of the company’s property. ET Solar Inc. has until December 18 to file these.

There is no evidence that the bankruptcy will necessarily have any effect on ET Solar’s gigawatt-scale Chinese manufacturing, or its network of sales and development & construction subsidiaries operating in Europe, South America, the Middle East, Asia and Australia. Additionally, project development, construction and sales efforts continue unabated in the United States through another subsidiary, ET Capital Inc.

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As of the writing of this article ET Solar Inc. still had 10 employees listed on LinkedIn, with most in the San Francisco Bay Area. We will be either updating this article or following up with additional coverage as more information becomes available.

Update/correction: This article was modified at 1:40 PM EST (U.S.) on December 13 to note that ET Capital remains active in project development and construction, as well as to remove the indication that ET Solar Inc.’s website is down. It is not clear at this time that there was a separate website for ET Solar Inc.

Output: The US module sales subsidiary of Chinese PV module maker and developer ET Solar has filed for Chapter 11 bankruptcy, claiming less than $50,000 in assets and $10-50m in debt. The parent company’s US project development and construction subsidiary ET Capital has not been affected.


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Phoenix Solar files for insolvency
 The German solar PV project developer, Phoenix Solar AG has officially filed for insolvency today, December 13.

In a one sentence statement on its website, the company said, “The Executive Board of Phoenix Solar AG has submitted an insolvency filing to the relevant insolvency court in Munich, today.”

Last Friday, it announced it would start insolvency proceedings this week after its U.S. subsidiary, Phoenix Solar Inc. received a payment request from an unidentified customer to the tune of US$8 million.

“This exceeds the financial capabilities of Phoenix Solar AG, therefore leads to insolvency and forces the Board to start the insolvency proceedings,” it said on Friday.

According to its latest financial data, the Phoenix Solar Group has 128 employees. It is unclear how many of them, or the subsidiaries, will be affected. The phone number for the company does not connect, and an automatic email response stated, “Because of the insolvency filing of Phoenix Solar AG the investor relations office is currently unavailable.”

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In its Q3 2017 financial results, the company noted that several EPC contracts for large-scale projects in the U.S. and Asia/Pacific region had been signed, including its first large ground-mounted PV power plant in Australia.

“These projects, as well as the issuing of the respective notices to proceed had originally been expected to come in earlier in the financial year,” wrote Phoenix Solar.

“On October 24, 2017, the Executive Board of Phoenix Solar AG, therefore, lowered its 2017 forecast and now expects revenues in the range of € 90 to €110 million (2016: €139.2 million) and an EBIT in a range between €-10.0 to €-8.0 million for the full year 2017.”

Despite losses this year, the company said that due to its significantly increased weighted global project pipeline, renewed revenue and earnings growth was expected in 2018. It also renewed the tenure of Group CEO, Tim Ryan by another year on the back of “improving prospects”.

Output: German solar PV project developer Phoenix Solar filed for insolvency in Munich on 13 December. The previous week, it said it would start insolvency proceedings after its US subsidiary, Phoenix Solar Inc., received a payment request from an unidentified customer for $8m, exceeding available funds. In its Q3 2017 financial results, Phoenix Solar said that several EPC contracts for large-scale projects in the US and Asia/Pacific region had been signed, including its first large ground-mounted PV power plant in Australia.


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Solar module cleaning robot raises $13m
 Ecoppia's cleaning robot, which is cloud-connected and uses no water, has been recognized by Deloitte as one of 2017's leading tech innovations.

Ecoppia, the Israeli-headquartered producer of water-free, robotic cleaning solutions for solar panels, has this week completed a $13 million funding round that will help steer its expansion efforts.

Existing investors in Ecoppia led the funding round, including GlenRock, Gandyr and Swarth Group, and now joined by Harel Group Insurance and Finance – the largest insurer in Israel.

The completion will help Ecoppia expand on an already noteworthy year in which it was ranked in the top ten of Deloitte’s 2017 Technology Fast 50.

According to Ecoppia, over the past four years the company has posted growth of more than 1,600% as its cloud-based cleaning solutions have found a large target audience in the utility-scale markets of India, MENA, Latin America and Europe.

Next year, Ecoppia says that its pipeline is expected to top 2 GW, having already seen its solution clean its 200 millionth solar panel in 2017.

Leading ECPs and developers that have adopted Ecoppia’s solution include Adani Power, Terraform, EDF and India’s NTPC.

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According to Harel Group, which is now a backer of the firm, Ecoppia’s cleaning solution – which the company claims can remove 99% of dust on a panel daily without any water required – has been a game-changer for the industry.

“They’ve successfully identified a critical need in the solar industry and created a reliable and cost-effective solution that contributes to lowering LCOE worldwide,” said a Harel Group spokesperson.

The Ecoppia solution’ cloud connection links it instantly to advanced data analysis, meaning the machine learns on the job, and can therefore offer an optimized level of performance for each plant, the company states.

The extra cash raised in this latest funding round will, said Ecoppia CEO and co-founder Eran Meller, enable the company to “continue serving the largest energy players in the world, meeting the requirement of the top financial institutions involved in cleantech, and the growing demand of our pipeline”.

Output: Ecoppia, the Israeli-headquartered producer of water-free, robotic cleaning solutions for solar panels, has raised $13m to help fund expansion. Existing investors, including GlenRock, Gandyr and Swarth Group, led the round, and were joined by Harel Group Insurance and Finance, the largest insurer in Israel.


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Aquila Capital buys 170 MW of in-progress solar PV in Portugal
 German investment company Aquila Capital has acquired four PV projects in central and southern Portugal that will boast a combined generation capacity of 170MW.

Construction on the four installations is expected to be completed by the end of 2018. Aquila Capital was intrigued by the four projects due to the low costs of the systems and good conditions at the four project sites.

As part of the transaction, Aquila Capital entered into a power purchase agreement with a third party for the energy produced by the four installations.

Susanne Wermter, head of investment management energy & infrastructure EMEA at Aquila Capital, said: “Even without state funding support, these projects are a highly attractive investment. With the help of a long-term power purchase agreement, we have been able to secure stable attractive income for our investors.”

In total, Aquila Capital manages a renewable energy portfolio with a transaction volume of over €3 billion across 10 countries.

Output: German investor Aquila Capital has acquired four solar PV projects in central and southern Portugal with a combined generation capacity of 170 MW. Construction is expected to be completed by the end of 2018. As part of the transaction, Aquila Capital has entered into a power purchase agreement with a third party for the energy produced by the four installations. Aquila Capital manages a €3bn ($3.5bn) renewable energy portfolio across 10 countries.


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Economic 'fundamentals' underpin BP's Lightsource solar acquisition
 BP has said the promising “fundamentals” behind the current global solar market triggered it to re-enter and the petrol giant now has ambitious plans for worldwide growth.

Earlier today BP announced that it is to pay US$200 million for a 43% stake in prolific UK solar developer Lightsource to establish a new partnership.

It forms the first investment BP has made into photovoltaics since it unceremoniously shuttered its BP Solar in 2011 following years of sales and factory closures.

However BP has an appetite for solar once more and, speaking to PV-Tech, BP Alternative Energy chief executive Dev Sanyal said the fundamental factors behind solar were key.

Lightsource and BP had been locked in discussions for several months before today but Sanyal said BP had been keeping a watching brief on solar PV for much longer.

“From our vantage point we'd been looking at the developments in the solar energy industry for some years now, and effectively what we are seeing are fundamentals that are really important.

“Growth around 10-15% per annum, we've seen trebling of solar installed capacity over the last four years. And you see business models that are actually now being developed and are in place that are very attractive,” he said.

The task is now to identify which markets the partnership – Lightsource is to be rebranded as Lightsource BP – will target. Lightsource has most recently entered into the Australian and Dutch PV markets to complement its existing interests in the US and India, but Lightsource chief executive Nick Boyle says this could soon grow further.

There is, however, a more cautious approach with Lightsource keen to avoid the mistakes of one formerly prolific solar developers in particular.

“One of the big plusses for us is BP are pushing toward 100 markets worldwide. it would be easy for us to get all excited and think 'let's open up in all those markets', but SunEdison did that before and from our perspective it's about being able to sit back and have the maturity of knowing which are the next best markets to add to our list,” Boyle said.

Output: BP bought solar developer Lightsource because of the strong “fundamentals” in the market. BP paid $200m for 43% of the UK solar developer – rebranded Lightsource BP – the energy major's first PV investment since it closed BP Solar in 2011. “Effectively what we are seeing are fundamentals that are really important", said BP Alternative Energy chief executive Dev Sanyal. “Growth around 10-15% per annum, we've seen trebling of solar installed capacity over the last four years. And you see business models that are actually now being developed and are in place that are very attractive."


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Wirsol buys 16 MW of subsidy-free solar projects in the UK
 Wirsol Energy Ltd on Wednesday said it has acquired the project rights for two subsidy-free solar parks in the UK, the 7-MWp Outwood project in Essex and the 9-MWp Trowse-Newton in Norfolk.

Construction will start in January and the plants will be connected to the grid during the first half of 2018. The company, which is part of Germany's Wircon, with responsibility for the UK and Australian markets, said it is in the final stages of securing a long-term power purchase agreement (PPA) and debt.

The projects mark the start of a portfolio of six projects totalling about 150 MWp that will be constructed over the next 12-18 months.

Wirsol managing director Mark Hogan said that the plants will be designed in way to be able to add battery storage at a later stage.

Wirsol and UK solar developer Hive Energy recently announced a joint venture to develop a 350-MW-plus, subsidy-free solar photovoltaic (PV) project on the north Kent coast in South East England. Planning submission for this project is planned for mid-2018, Wirsol said.

In Australia, the company has 400 MWp under construction and another 470 MWp in development for rollout before 2020, Hogan said.

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Output: Wirsol Energy has acquired the project rights for two subsidy-free solar parks in the UK, the 7-MW Outwood project in Essex and the 9-MW Trowse-Newton scheme in Norfolk. Construction will begin in January and the plants will be connected to the grid during the first half of 2018. The company, a unit of Germany's Wircon, said it was in the final stages of securing a long-term power purchase agreement and debt. Wirsol plans to build a portfolio of six projects totalling about 150 MW over the next 12-18 months.


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Latin America's largest power transmission line begins operation
 The largest direct current (DC) transmission line in Latin America, of 2,092 km, became operational on Tuesday in Brazil, the Ministry of Mines and Energy announced.

The transmission line uses new technology for the country with an ultra-high voltage of 800 kV, allowing the transportation of energy with smaller losses. Before the 1st Bipolo de Belo Monte project, as it is named, Brazil used 600 kV voltage in its DC transmission systems.

This power distribution network crosses four states and allows the flow of energy produced from the Belo Monte hydropower plant (HPP) to load centres in the sub-markets of the Southeast and Midwest regions.

Belo Monte Transmitter of Energy (BMTE) is the special purpose company (SPE) that developed the project. It is led by State Grid Brazil Holding SA with a stake of 51%, Furnas Centrais Eletricas SA with 24.5% and Eletronorte Centrais Eletricas do Norte do Brasil SA.

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Output: The largest DC transmission line in Latin America, a 2,092 km connector in Brazil, has started operations. It's the first time that ultra-high voltage 800 kV technology has been used in Brazil, allowing the transportation of energy with smaller losses. The 1st Bipolo de Belo Monte line crosses four states and takes energy produced from the Belo Monte hydropower plant to load centres in the southeast and midwest regions.


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Vattenfall to bid in Netherlands subsidy-free wind auction
 Swedish state-owned utility Vattenfall AB will bid in the Netherlands’ subsidy-free offshore wind tender for phases I and II of the Hollandse Kust Zuid zone.

The company said the site has good wind conditions and it sees significant synergies to its nearby wind farm Egmond aan Zee. The Ducth tender also "fits well with Vattenfall’s North Sea wind farm pipeline and can therefore easily be incorporated in the current procurement and execution strategy" said the company.

The tender for Hollandse Kust Zuid is for an area of 356 sq km to accommodate two offshore wind farms of 342 MW to 380 MW each. The Dutch government is accepting applications between December 15 and December 21.

Vattenfall won in 2016 the Kriegers Flak offshore wind tender in Denmark with a record low bid of EUR 49.9 (USD 59) per MWh, and the tender for the Vesterhav coastal wind farms at DKK 475 (USD 76/EUR 64) per MWh. In November 2017 it selected Siemens Gamesa Renewable Energy SA’s (BME:SGRE) new 8-MW offshore wind turbine for the projects.

"We combine a strong track record in building and operating windfarms at the lowest cost with an ability to handle market risk and sell electricity on the Dutch market," said Vattenfall’s Wind head Gunnar Groebler. He said the Netherlands’ strong commitment to renewables and the stable regulatory framework were key in Vattenfall’s decision to bid in tenders, as well as the promised availability of substation and grid connection for the Hollandse Kust Zuid.

(EUR 1 = USD 1.18)

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Output: Swedish state-owned utility Vattenfall will bid in the Netherlands’ subsidy-free offshore wind tender for phases I and II of the Hollandse Kust Zuid zone between 15 December and 21 December. The site has good wind conditions and provides significant synergies to Vattenfall's nearby wind farm Egmond aan Zee, the company said. Hollandse Kust Zuid is a 356 sq km site that will contain two wind farms of 342 MW to 380 MW each. In 2016, Vattenfall won the Kriegers Flak offshore wind tender in Denmark with a record low bid of EUR49.9 ($59) per MWh.


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Projects face cancellation as solar panel prices rise: IHS
 IHS Markit is predicting another recording breaking year for solar in 2018, forecasting installations to hit 108 GW by the end of the year.

The analysts state that continued demand from China will be the key driver behind this growth, as the country has successfully diversified its market and achieved strong momentum in the distributed generation segment.

The latest edition of IHS Markit’s PV Demand Market Tracker highlights how China has now become the priority market for domestic manufacturers, something likely to shape the market in 2018.

“Short supply and higher than anticipated module prices in the first half of 2018 will impede many market outside China, due to worsening project economics,” says Edurne Zoco, Research and Analysis Director at IHS Markit.

“Projects in some regions might be delayed or even cancelled, because market prices are higher than were estimated during the planning phase.”

While demand from China is expected to remain strong, question marks remain over other leading PV markets, as the U.S. industry awaits the President’s final decision in the section 201 case, and India mulls the introduction of anti-dumping duties.

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While it still expects these two to remain the second and third largest PV markets, respectively, IHS Markit warns that in the U.S., the section 201 case has already begun to distort the supply/demand relationship, as developers have been stockpiling modules ahead of the decision, and that planned tax reforms could also weaken investor interest in the sector.

Meanwhile in India, IHS warns that that raising anti-dumping duties could limit the number of modules on the market, unless domestic manufacturers are able to ramp up very quickly.

This forecast will leave little room for unexpected demand increases – as occurred in 2017, unless polysilicon is also able to quickly grow.

“Exceeding 108 gigawatts of PV installations is close to the top-end of what can be achieved, based on the global polysilicon manufacturing capacity,” said Zoco. “Supply will therefore be tight throughout the first half of the year at least, resulting in stable to higher prices across the supply chain.”

Recently, in its 4Q Global PV Market Outlook, Bloomberg New Energy Finance predicted similar installation numbers. With stabilization of the polysilicon market expected, improved cost-efficiencies on the upstream side and increased efforts to meet 2020 energy targets in Europe, demand in 2018 should be between 94 and 111 GW; and 107 and 121 GW in 2019, it said.

Output: “Short supply and higher than anticipated module prices in the first half of 2018 will impede many markets outside China, due to worsening project economics,” said Edurne Zoco, research and analysis director at IHS Markit. “Projects in some regions might be delayed or even cancelled, because market prices are higher than were estimated during the planning phase.” However, global solar installation will reach a record 108 GW in 2018, driven by demand from China, he said.


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Sunseap and Linyang to build 500 MW of rooftop and floating solar
 Chinese clean energy firm Linyang Energy has signed an MoU with Singapore-based solar developer Sunseap to work on distributed solar, floating solar, module supply and energy efficiency projects locally in Singapore.

Together the firms aim to install 100MW of distributed solar PV by the end of next year and 500MW by 2021. They will also collaborate on efficiency management using LEDs and green energy trading projects in Singapore as well as providing decentralised energy in industrial parks, according to a Linyang release.

The MoU covers six areas requiring US$500 million investment by 2020.

Energy efficiency in buildings rooftop and floating solar plants, particularly in industrial parks Supply of 300MW of n-type double-glass modules LED and energy-saving services partnering on Singaporean power trading working on virtual power stations, energy management hosting and micro-grids

Linyang energy’s wholly-owned Singaporean subsidiary signed the with Sunseap Group in Singapore last week.

Renewable energy power purchase agreements (PPA) driven by corporate solar are set to take a significant chunk of the market in Southeast Asia over the next few years, according to panellists at the Solar and Off-Grid Renewables Southeast Asia (SORSEA) conference in Bangkok last month.

Output: Chinese clean energy firm Linyang Energy and Singapore-based solar developer Sunseap plan to jointly deliver 100 MW of distributed solar PV in Singapore by the end of next year and 500 MW by 2021. The companies plan to spend $500m by 2020 on energy efficiency in buildings; rooftop and floating solar plants, particularly in industrial parks; supply of 300 MW of n-type double-glass modules; LED and energy-saving services; Singaporean power trading; virtual power stations; energy management hosting and micro-grids.


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Pakistan plans first solar energy auction
 The government of Sindh in Pakistan plans to launch an auction for the development of 50MW of solar PV in the Province, with support from the World Bank.

A formal procurement process is set for Q2 2018 and this will be followed by many subsequent renewable energy auctions in Sindh.

The National Electric Power Regulatory Authority (NEPRA) first enabled such tariff-based solar auctions back in March this year as a replacement for the feed-in tariff (FiT) programme, despite opposition from some developers. The Sindh auction will be the first of its kind in Pakistan.

The 50MW project is set for a site on state-owned land north-west of Hyderabad.

The Energy Department of the Sindh government noted that competitive auctions have seen PV prices drop dramatically across the globe to become the lowest cost source of generation in many geographies. It also said the new auction will “follow international standards and procedures to ensure full transparency and ensure least-cost bids are obtained.”

This pilot auction is part of a larger programme for solar and other renewables being developed by the Energy Department, which will include development of large-scale renewables, rooftop PV on public buildings and support for off-grid renewables in rural areas. The government is particularly keen to attract foreign direct investment.

The Energy Department has now released a Request for Information (RfI) to solar developers and investors prior to the formal procurement process. A consultation with interested developers will take place early next year.

Agha Wasif Abbas, energy secretary, government of Sindh, said: “We are excited that Sindh is leading the way by introducing price discovery for solar power tariffs in Pakistan. This 50MW project is about demonstrating that solar power can be a least-cost generation option, and we look forward to welcoming qualified international and domestic solar power developers to bid on this project, and on subsequent renewable energy auctions.”

Riccardo Puliti, director of energy and extractives at the World Bank, said: “The World Bank is pleased to be working with the government of Sindh in helping to scale up renewable energy in the province. We believe that introducing auctions for renewable energy will be important for Pakistan in replicating the cost reductions see in other countries.”

Output: An auction for the development of 50 MW of solar PV in Sindh Province in Pakistan is being planned by the local government, with a formal procurement process set for 2018. The pilot auction, which is supported by the World Bank, is part of a larger nationwide public initiative aimed at increasing renewables activity and boosting foreign investment. The project is likely to be on state-owned land north-west of Hyderabad.


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Nepal's largest solar-wind hybrid project begins operations
 Nepal’s largest wind-solar hybrid power system has officially been switched on in the Hariharpurgadi village of Sindhuli district, having been financed by the Asian Development Bank (ADB).

Mukhtor Khamudkhanov, ADB’s country director for Nepal, said: “Access to clean, reliable, and affordable energy will help the village to connect to the world through Internet and mobile phones, and will create opportunities to boost local income. The electricity from the mini-grid will also open the door for commercial activities in the village and help small businesses get off the ground.”

The project, which is now providing electricity services to 83 rural households, features both 20kW wind turbines and a 15kW peak of PV panels. The system generates 110kWh of energy per day — easily meeting the village’s electricity demand of 87kWh per day.

The subproject, implemented by the Alternative Energy Promotion Centre (AEPC), stands as an example of Nepal’s commitment and ADB’s efforts towards boosting the country’s off-grid energy sources.

Ram Prasad Dhital, executive director, AEPC, said: “Six years ago, the Government of Nepal, with support from ADB, launched its first mini-grid wind-solar system in Dhaubadi in western Nepal. The success of these two projects has demonstrated that clean energy is indeed a viable option to provide reliable energy access to rural Nepal through wind-solar hybrid systems.”

The hybrid installation was installed under ADB’s South Asia Subregional Economic Cooperation Power System Expansion Project.

Developed with a total cost of $16.2 million, the project was also partly financed by the Government of Nepal, the Scaling up Of Renewable Energy Program under the Climate Investment Fund, along with the local community.

Output: Nepal’s largest wind-solar hybrid power system, financed by the Asian Development Bank, has been switched on in the Hariharpurgadi village of Sindhuli district. The project features 20 kW of wind turbines and 15 kW of solar PV panels. The system generates 110 kWh of energy per day, exceeding the  83-household village’s demand of 87 kWh per day.


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Record low Canadian prices set at Alberta wind-power auction
 Three companies have been chosen in the opening round of Alberta’s Renewable Electricity Program (REP), which will result in about C$1 billion of private-sector investment in wind generation in Alberta. Notably, the successful bids set a record for the lowest-ever renewable energy pricing in Canada, the Alberta government has announced.

The Canadian Wind Energy Association (CanWEA) is applauding the Alberta Electric System Operator (AESO) and the government of Alberta for the successful implementation of the first phase of the program.

Specifically, the AESO will secure power from three new wind energy projects representing approximately 600 MW of capacity at an average price of C$37/MWh. The Alberta government notes that in comparison, a 2016 Ontario procurement had a weighted average price of C$85/MWh.

The following companies were successful bidders in round one of the REP:

Capital Power, which will build the 201 MW Whitla Wind project 60 kilometers southwest of Medicine Hat;

EDP Renewables Canada Ltd., which will build a 248 MW wind farm at their Sharp Hills project east of Hanna, roughly 50 kilometers north of Oyen; and

Enel Green Power North America Inc., which will build two projects – the 115 MW Riverview Wind Farm and the 31 MW Phase 2 of Castle Rock Ridge Wind Power Plant just outside of Pincher Creek.

According to CanWEA, the companies behind these projects have each signed a 20-year indexed renewable energy credit (IREC) agreement with the AESO, providing predictable revenues and protecting Albertans against increases in the price of power. Under the IREC, when the market price is lower than the contracted price, the generator will be paid the difference, and when the market price is higher, generators will be required to pay back the difference to the government, explains CanWEA.

“This Canadian award is a major milestone for our company, as it is the first regulated renewables tender we have ever won in the country,” says Antonio Cammisecra, CEO of Enel Green Power. “We are thrilled to be investing once again in the Canadian energy economy and to continue our growth here in Alberta.”

The government says this first round attracted investment from both international and Alberta-based companies and is expected to create approximately 740 jobs. By 2030, the program is expected to attract at least C$10 billion of investment into the Alberta economy and create more than 7,000 jobs for Albertans.

“As an Alberta-based company, we’re proud to be selected amongst global competition to be one of the first projects under this program to drive Alberta’s transition to a clean energy future,” comments Brian Vaasjo, president and CEO of Capital Power.

Ryan Brown, vice president of EDP Renewables’ eastern region and Canada, adds, “We’re thrilled to be investing in Alberta and look forward to the Sharp Hills Wind Farm opening in the Hanna area, which has a strong track record in energy production. As a global company, we look forward to creating jobs and tax revenue for this region while generating low-cost, clean electricity for Albertans to enjoy.”

CanWEA notes that the competitive nature of this procurement process was critical to achieving a low-cost result. In total, 29 projects representing over 4 GW of renewable energy were qualified to participate in this initial process; this great interest shown by renewable energy producers means that Alberta is well-positioned to succeed in its goal of procuring 5 GW of new renewable energy by 2030, says CanWEA. Furthermore, the announcement represents the first step toward implementation of the Alberta Climate Leadership Plan, which calls for 30% renewable energy by 2030.

The Alberta government adds that support for the REP is made possible by the Climate Leadership Plan and is not funded by consumer electricity charges. Development of the next rounds of the program is under way, with more details expected in early 2018.

“CanWEA was pleased to see such a large response to this initial phase of the Renewable Electricity Program,” comments Robert Hornung, president of CanWEA. “The results demonstrate that wind energy is cost-competitive with all other generation sources and provides excellent value for Albertas as the province moves to reduce greenhouse-gas emissions throughout the economy.”

According to CanWEA, Alberta has 1,479 MW of wind energy, the third-largest installed capacity among Canadian provinces. Wind currently supplies about 6% of the province’s electricity demand.

Margaret McCuaig-Boyd, minister of energy, says, “These prices are beyond expectations, highlighting the strong potential of renewable power in Alberta, the quality of the competitive process and the positive view that investors have of our province. This is a win for power generators, a win for the environment and a win for Albertans.”

Output: The successful bids at an Alberta wind-power auction have set a record for Canada's lowest wind energy prices. Three projects have been chosen to build 600 MW of capacity at an average cost of CAD37 per MWh, down from CAD85 per MWh in 2016. The winning bids came from Capital Power, EDP Renewables Canada and Enel Green Power North America. The programme should generate approximately CAD1bn in private sector funding for wind generation in the Alberta region.


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Crystalline silicon has 70% market share in utility-scale solar PV
 In the US 70% of the utility-scale photovoltaic (PV) power plants installed by end-2016 used crystalline silicon (c-Si) modules, while the share of thin films was 28%.

According to a report by the US Energy Information Administration, over the five years between 2012 and 2016 thin-film solar capacity installations have remained relatively stable, with just a modest increase. In contrast, c-Si module installations have been on a steady rise thanks to falling costs. EIA said that c-Si PV capacity additions were up by 3.8 GW, or 61%, between 2015 and 2016.

California is the US leader in terms of utility-scale solar capacity with 5 GW of c-Si PV and 3.5 GW of thin films in 2016. North Carolina, ranking second, had 2.1 GW of c-Si and 0.3 GW of thin-film solar capacity. Nevada, meanwhile, is the only state in the top 10 with more utility-scale solar parks using thin-film solar than c-Si modules.

The falling prices of c-Si solar over the last several years, especially of imports from Asia, provoked a Section 201 petition in the spring of 2017, in which Suniva Inc called for relief against solar imports from all geographic sources. The US International Trade Commission (ITC) after several months of investigation and hearings proposed measures to protect domestic c-Si PV manufacturers. A decision by President Donald Trump is expected by mid-January.

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Output: Crystalline silicon (c-Si) modules were used in 70% of utility-scale solar PV projects in the US, while thin films has a 28% market share, according to the US Energy Information Administration. California has the most utility-scale solar PV in the SU with 5 GW of c-Si and 3.5 GW of thin films in 2016. In second place, North Carolina had 2.1 GW of c-Si and 0.3 GW of thin-film, while Nevada is the only state in the top 10 with more utility-scale solar parks using thin-film solar than c-Si modules.


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River turbine to be tested in France from April 2018
 Irish company DesignPro Ltd has started building a 25-kW hydrokinetic river turbine that will be tested for a year in France and sales head Roisin Mc Cormack tells Renewables Now that the market potential for such devices is significant and untapped.

The custom machine builder recently announced that it has selected the Seeneoh test site on the Garonne river in Bordeaux, France to trial the device. The turbine is expected to be completed in March 2018 and to be deployed at the French test facility in April 2018.

West Limerick, Ireland-based DesignPro is working to bring to market small-scale turbines of up to 100 kW for use in rivers and estuaries. Earlier in 2017 it secured EU funding for a EUR-2.7-million (USD 3.2m) project whose objective is the commercialisation of two devices, of 25 kW and 60 kW. The larger machine is scheduled to start testing in July 2018 at a yet-to-be-selected site.

The turbines are based on technology developed by another Irish firm, GKinetic Energy Ltd. The two companies started their relationship in 2014 when GKinetic was looking for a machine builder to construct a prototype. They signed a licence agreement in 2016 that gave DesignPro the rights to commercialise turbines of up to 100 kW. GKinetic kept rights for larger devices and for tidal/ocean applications. DesignPro, which is solely focused on the river devices, tells Renewables Now that GKinetic is currently exploring partners, sites and opportunities for the deployment of a 250-kW tidal device.

The GKinetic technology consists of two vertical axis turbines attached to a buoyant vessel, which is shaped so as to accelerate the water flow into the turbines. The device is deployed by means of anchoring in the flow.

The turbines that DesignPro is to commercialise are aimed at the niche market of hydrokinetic generation for rivers, canals and estuaries.

"Within the booming renewable sector, the niche area of hydrokinetic generation specifically for rivers, canals and estuaries is still relatively new and the resource itself is for the most part untapped," said Sales and Marketing Manager Roisin Mc Cormack.

The world's technically feasible river hydro potential for hydrokinetic devices is estimated at 200 GW. According to the company, only 5% of this potential has been exploited to date.

"Our key target customers are those living in remote areas and communities who currently have a poor electricity supply but do have a great river or estuary resource nearby. Our solution could provide energy security and independence to these end users by supplying reliable and predictable energy," Roisin Mc Cormack added.

(EUR 1 = USD 1.183)

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Output: Irish company DesignPro has started building a 25 kW hydrokinetic river turbine that will be tested for a year at the Seeneoh test site on the Garonne river in Bordeaux, France, from April 2018. A 60 kW machine is scheduled to start testing in July 2018 at a yet-to-be-selected site. The turbine is based on technology licensed from another Irish firm, GKinetic Energy. The systems consist of two vertical axis turbines attached to a buoyant vessel, which is shaped so as to accelerate the water flow into the turbines. To date, only 5% of the potential 200 GW of potential energy from hydrokinetic systems in rivers has been exploited, said DesignPro.


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Quantum process extracts current from solar cells more efficiently
 A group of scientists at Japan’s RIKEN Center for Emergent Matter Science is developing a new quantum-mechanical process to extract current from solar cells in a more efficient way.

The researchers have used ferroelectric organic molecules to solve the problem of the lack of ‘inversion’ symmetry of several semiconductor materials, as these spontaneously separate their positive and negative charges; a task that oxide ferroelectrics cannot achieve, because their atoms are flipped about the center of the repeating unit.

For the latter, light-induced transitions of charges to excited states become unbalanced and, as a result, a ‘shift current’ along a specific crystal direction is created. “This shift current propagates rapidly and with less energy loss than a current generated by applying an electric field. But shift currents usually generate insufficient photovoltaic power for practical uses,” the research team said.

The scientists have developed an organic ferroelectric with strong quantum polarization to explore its shift-current capabilities. According to them, this is made of alternately stacked tetrathiafulvalene (TTF) and p-chloranil (CA) aromatic rings. It undergoes instantaneous charge separation when cooled to around −200 degrees Celsius, and is particularly sensitive to sunlight.

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“Most ferroelectric materials need light with energy in the ultraviolet region to excite carriers over a large band gap,” said the project coordinator Masao Nakamura. “With TTF–CA, the band gap is narrow and responds to visible and infrared light, which is really important for applications like solar cells,” he went on to say.

The research group believes that the shift-current effects in TTF–CA are so sizeable, that they can be used as a technology platform to transfer this photoelectric conversion in next-generation PV devices.

Output: A quantum-mechanical process developed by scientists at Japan’s RIKEN Center for Emergent Matter Science has been shown to extract current from solar cells more efficiently. Ferroelectric organic molecules have been used to solve the problem of the lack of "inversion" symmetry displayed by many semiconductor materials by spontaneously separating their positive and negative charges.


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Distributed solar could power 10% of UK rail network: Imperial
 In the U.K., Imperial College and 10:10 have released a report detailing how British rail could be powered by solar PV by 2020, thus saving roughly £4.5 million (around US$6 million) annually. Community-owned models are an attractive option, they say.

With specially designed power electronics, the two explain how PV can be directly connected to electrified railways to supply one tenth of the energy needed to power trains, without connecting to the grid.

Using technology developed by 10:10 earlier this year, the Renewable Traction Power project will plug track-side solar panels into trackside substations, where trains can directly use the generated electricity.

By using direct current rail systems, the electricity generated through the traction power would not have to be converted to AC, thus saving around £4.5 million a year.

Imperial and 10:10 further outline how solar traction power is both technically feasible and commercially attractive under today’s market conditions, with the scheme being potentially operational by 2020.

Demand for traction power from railways is said to be increasing. Railway operators could be supplied with track-connected solar that is both lower cost and much cleaner than grid-supplied electricity. This could result in reduced fares for customers, says the report.

Analyses by Imperial and 10:10 indicate that a first wave of six to 10 solar traction farms could be community-owned and built, with backing from secure, 27 year PPA’s that would supply Network Rail with electricity at a price per kWh equal to the price they currently pay today under their supply contracts.

Solar traction is set to be initially deployed on the London Underground, with 6% of the energy demand covered by solar-power. Following this, 15% of the train networks across Kent, East Sussex and West Sussex could be powered by track-connected solar PV arrays and, in the north of England, 20% of the Merseyrail network in Liverpool.

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However, as the report outlines, there is potential for solar traction power in other countries, like India, which is aggressively deploying solar PV throughout the country and has 25,000 km of rail, which could benefit from it; and Spain, which already has a large solar PV installation base, and 7,000 km of rail, could also expand its PV portfolio by employing solar for its railways.

Switzerland considers solar powered trains

In related solar train news, the Swiss South Eastern Railway AG (SOB) has commissioned a feasibility study from Swiss CMT AG, with the aim of reducing its energy requirements and operating costs.

It found that solar PV is “well-suited” for installation on the roofs train stations, hall roofs, and the soundproofed walls along railway lines.

Initial focus was placed upon PV on the roofs’ of the trains themselves. However, results concluded that the net energy production by the modules remained below the expectations of the engineers, while pollution and space constrictions also had a negative impact. As such, they were not deemed economically feasible.

“Even though it is hardly possible to cover the electricity demand of a whole train with its own solar roof, we wanted to know more about it,” said CMT CEO Marcel Schubinger.

Output: Solar PV could start directly powering the UK rail network from 2020, according to research from Imperial College and climate charity 10:10. The Renewable Traction Power project would plug solar panels into trackside substations, where trains can directly use the generated electricity. By using direct current rail systems, the electricity generated would not have to be converted to AC, saving around £4.5m ($6m) a year. A first wave of six to 10 solar traction farms could be community-owned and built, supported by 27-year power purchase agreements at a similar price to current contracts, the study showed.


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'Nano grass' increases transmission of light to solar cells
 Researchers at the University of Pittsburgh’s Swanson School Engineering have been working on new types of glass to improve solar module’s light capturing ability. They developed a nanostructure, which is described as looking ‘much like grass’, which has the effect of scattering light as it falls on to a solar cell placed beneath, whilst making the glass appear hazy.

In research published in the journal Optica, the glass was etched with ‘nanograss’ structures of between 0.8 and 8.5 microns in height, with the ‘blades’ each measuring a few hundred nanometers in diameter. The team found that a height of 4.5 micron’s gave the best balance of 96% transmittance and 96.2% haze, based on testing with yellow light (550nm wavelength).

Another important feature of the glass, which could have broad commercial applications in PV and other areas, is that it can be switched from hazy to clear, simply by applying water to the surface. This was a serendipitous discover made by the team, as it worked on nanostructures for solar glass.

“I was cleaning the new nanograss glass when I discovered that cleaning it with water made the glass become clear,” said project lead Sajad Haghanifar. “The water goes between the extremely hydrophilic nanostructures, making the nanograss glass act like a flat substrate. Because water has a very similar index of refraction to the glass, the light goes straight through it. When the water is removed, light hits the scattering nanostructures, making the glass appear hazy.”

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Effects of the switchable opacity on the glass’s usefulness in solar applications are not discussed in the current research, however it could also be used in LEDs, as well as for ‘smart windows’ that switch from hazy to clear. While manufacturing costs are yet to be investigated, the team expects that the glass will be cheaper to produce than current smart window solutions, which use the application of voltage to switch from hazy to clear.

The team will now conduct durability tests on the glass, and is also investigating its potential self-cleaning properties – evidence that application in solar panels is still the main focus. “Self-cleaning glass is very useful,” explains Haghanifar, “because it prevents the need for robotic or manual removal of dust and debris that would reduce the efficiency of solar panels.”

Output: Scientists from the University of Pittsburgh have created a glass surface with an etched nano structure that scatters the light entering the glass, allowing for up to 95% light transmittance to the solar cell beneath. The nanostructure, which is described as looking "much like grass", scatters light, making the glass appear hazy. The glass can be switched from hazy to clear by applying water to the surface.


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World's largest floating solar farm begins operations in China
 China-based firm Three Gorges New Energy, a subsidiary of Three Gorges Corporation, has partially connected a 150MW floating PV project to the grid in eastern China, with the remaining capacity to be connected in May 2018.

The CNY1 billion (US$151 million) project, located in Panji District, Huainan City, joins a host of other world-beating solar projects being developed in Anhui Province. PV Tech reported over the summer that Chinese inverter specialist Sungrow was also set to build its own 150MW floating plant in this region.

The Three Gorges project, on which construction started in July, uses the water surface from a coal mining subsidence area. It also involves the employment of many locals in both O&M and construction services.

A Three Gorges release said the project requires tax payments of CNY25 million per year to the local government to help it transform the wealth-making ability of the area from underground in mines to overground with solar – naming this transformation “black to green”.

Floating solar benefits from not requiring land acquisition and it can see improved yield through the cooling effect of the water body on the panels and cables, particularly in hot climates. It also reduces water evaporation and the growth of algae.

The previous largest floating project of 40MW was built by Sungrow also in Anhui Province. Chinese firm CECEC is also constructing a 70MW projects in the same region of China.

Last month, Indonesian power company PT Pembangkitan Jawa-Bali (PT PJB), a subsidiary of state utility PLN, and the UAE's Masdar signed an agreement to develop the world’s largest floating solar project with a capacity of 200MW in Indonesia.

Korean firm Hanwha Group also announced it had won a bid to construst a 100MW floating solar plant in South Korea to supply enough energy for 140,000 people.

Output: A 150 MW floating solar PV project in eastern China has been partially connected to the grid with the the reminder to be hooked up in May 2018, according to developer Three Gorges New Energy, a unit of Three Gorges Corporation, which owns the world's largest hydropower system. Construction of the CNY1bn ($151m) project, located in Panji District, Huainan City, started in July and sits on water from a coal mining subsidence area.


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Solar and wind have lowest lifecycle CO2 emissions
 A comprehensive new study conducted by an international team of scientists and published in the journal Nature Energy sheds light on the various low-carbon technologies and how they differ when it comes to indirect greenhouse gas emissions in their life cycle.

Despite what some critics have noted, the study revealed that both PV and wind energy are much more favorable when it comes to low life-cycle emissions. The study also notes that ramping up both solar and wind energy would generate only modest indirect greenhouse gas emissions – which would not not delay the transformation towards a climate-friendly power system.

The study’s lead author Michaja Pehl noted: “Both fossil and non-fossil power technologies still come with a certain amount of greenhouse gas emissions within their life cycle – on the one hand because it needs energy to construct and operate them, on the other hand because of methane emissions, e.g. from coal and gas production.

“However, we found there are substantial differences across technologies regarding their greenhouse gas balance. Electricity production from biomass, coal, gas and hydropower for instance induces much higher indirect greenhouse gas emissions than nuclear electricity, or wind and solar-based power supply.”

The study was conducted by combining simulations based on integrated energy-economy-climate models that evaluate cost-optimal long-term strategies to meet climate targets with life-cycle assessment approaches.

Upon further analysis, the study found that fossil power plants equipped with carbon capture and sequestration (CCS) will be responsible for for life-cycle emissions of around 100 grams of CO 2 -equivalents per kWh of electricity produced. That is 10 times more than the around 10 grams of CO 2 -equivalents for wind and solar power.

Edgar Hertwich, an industrial ecologist from Yale University who co-authored the study, added: “When it comes to life cycle greenhouse gas emissions, wind and solar energy provide a much better greenhouse gas balance than fossil-based low carbon technologies, because they do not require additional energy for the production and transport of fuels, and the technologies themselves can be produced to a large extend with decarbonized electricity.”

Output: Solar and wind energy produce about 10 grams of CO2 equivalent per kWh over the life of their operation, comapred with 100 grams for electricity produced using fossil fuels with carbon capture and storage, according to a study published in Nature Energy. The study was conducted by combining simulations based on integrated energy-economy-climate models that evaluate cost-optimal long-term strategies to meet climate targets with lifecycle assessment approaches.


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International ETFs more popular in US than domestic counterparts
 Exchange-traded funds saw record-breaking growth in 2017, but despite the dozens of records set by the U.S. stock market—along with a near-total absence of volatility or pullbacks—investors showed more interest in opportunities offered abroad.

According to OppenheimerFunds, which cited data from Morningstar, international equity ETFs were the most popular fund category of the year, in terms of inflows.

About $136.78 billion has flowed into such products in the year through November, eclipsing the $120.7 billion that went into U.S. funds over the same period.

Chart courtesy OppenheimerFunds

The preference comes at a time when overseas stocks are seen as offering both higher levels of growth and cheaper valuations than the U.S., which is the world’s most-expensive market by one calculation.

Related:Why strong earnings aren’t just a U.S. story

Of course, U.S. stock-based ETFs were still in high demand, even if they were the runner up to international funds. About $120.7 billion went into the category over the year, followed by the $105.6 billion that went into taxable bond ETFs.

Also: Why investors are shrugging off high valuations in stocks

The most popular fund of the year was the iShares Core S&P 500 ETF IVV, +0.18% , which had $31.7 billion in 2017 inflows. That was followed by the iShares Core MSCI EAFE ETF IEFA, +0.22% , which had $20 billion in inflows. EAFE covers developed markets outside the U.S. and Canada; it stands for Europe, Australasia and Far East.

That fund was followed by the Vanguard FTSE Developed Markets ETF VEA, +0.15% ($16.4 billion) and the iShares Core MSCI Emerging Markets ETF IEMG, +0.15% ($15.7 billion). Of the top 10 most popular U.S.-listed equity funds, according to an analysis of FactSet data, six of them tracked non-U. S. indexes.

Overall, ETF inflows have topped $400 billion thus far this year, “an annual inflow record for the category and representing a 16.3% lift from the January 1 market cap of $2.5 trillion,” wrote David Mazza, head of ETF investment strategy at OppenheimerFunds.

The fourth-most popular fund category in 2017 was sector-based equity funds, which saw a total of $35.3 billion in inflows.

While the technology sector saw the biggest gain over the year—the Technology Select Sector SPDR ETF XLK, +1.05% is up 33.6% in 2017—it came in second behind financials in terms of inflows. The financial sector, as measured by the Financial Select Sector SPDR ETF XLF, -0.35% , is up 20.1% year-to-date; financial-sector ETFs had about $10 billion in inflows. Both the health-care and the consumer discretionary sectors also outperformed financials, though they lagged behind when it came to ETF flows.

Chart courtesy OppenheimerFunds

Flows in and out of the financial sector will likely be more volatile than that of other sectors, when measured on absolute-dollar terms, as the sector is the largest in terms of ETF assets. The financial SPDR fund, the largest to track the sector, has $33.1 billion in assets, according to FactSet. The tech SPDR, the second largest, only has $19 billion in assets.

Output: US investors have shown a preference for exchange-traded funds (ETFs) focused on international equities, despite the absence of any significant volatility or pullbacks in the US stock market. International equity ETFs have been the most popular product category this year, according to OppenheimerFunds, attracting $136.8bn compared with $120.7bn for US-oriented funds.


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Robo-adviser plans 'invest after reading' service
 A robo-adviser has partnered with a media group to provide an online investment tool based on algorithms to readers of business media.

Swanest, which was started in Belgium in late 2014, is designed to help investors make better decisions when investing.

Aimed at readers of business and financial news, it has entered into a partnership with Mediafin, the publisher of Belgium's leading business newspapers De Tijd and L'Echo.

It allows individuals to build a portfolio investing in companies they have read articles about by linking through to the robo-adviser in the news pieces.

Silvan Schumacher, chief executive of Swanest, said: "Traditional robo-advisers sell pre-made model portfolios, which is very similar to what financial advisers or banks do.

"However, investors often want to build their very own investment strategies. This ability to build, analyze and manage portfolios, consisting of any stocks, ETFs or funds, is what makes us unique."

Swanest decided to focus on partnering with business media rather than banks or asset managers because it wanted to avoid conflicts of interest.

Mr Schumacher said: "We’ve been approached by several banks, asset managers and brokers for partnerships. However, our mission has always been to empower investors and remain independent in the guidance we provide.

"Quality publishers share the same values."

The company has said its product is still in development and will unveil its pricing closer to when this is released but has pledged it will be "transparent, fair and without any conflict of interest".

But the service would allow readers of a story about a company to find out how its stock is performing and how risky it is. They would also be able to build a portfolio and monitor it.

damian.fantato@ft.com

Output: Belgium-based robo-adviser Swanest has entered into a partnership with media company Mediafin to enable customers to invest in firms they read about in some of Belgium's largest business publications, reported Damian Fantato in FT Adviser.


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Florida gas utility to help customers turn waste into renewables
 Florida natural gas utility TECO Peoples Gas expects to launch a new service next year that will allow certain customers, such as landfills, to create renewable natural gas from waste.

The company, a subsidiary of Canada-based Emera Inc (TSE:EMA), on Tuesday secured unanimous approval for the new service from the Florida Public Service Commission.

Renewable natural gas is produced from organic waste, such as gases generated by landfills or water treatment plants. After cleaning or conditioning it is ready for injection into Peoples Gas' pipeline. With the new service the utility will be able to clean or condition a customer's biogas, while customers will be allowed to transport their renewable natural gas using Peoples Gas' pipeline in some circumstances.

"We are excited to be the first utility in Florida – and among the first in the country – to offer this innovative new service," said Peoples Gas president TJ Szelistowski. "This is a win for the environment, a win for our customers, and a win for the communities we serve," Szelistowski added.

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Output: Natural gas utility TECO Peoples Gas, based in Florida, aims to enable industrial customers to capture and sell waste biogas. The Emera subsidiary has won the full backing of Florida's Public Service Commission to clean or condition byproduct gases from customers, such as landfills. TECO will also allow that gas to be transported via its pipelines.