Dec 18

ACT Solar Tender
The renewable industry will have an opportunity to compete for establishment of up to 40MW of solar generation from large scale facilities (greater than 2MW capacity) located in the ACT and connected to the ACT distribution network.

After consultation on the design of an auction and price support mechanism, the ACT Government tabled facilitating legislation on 17 November 2011, including a draft Instrument for the release of 40 MW of solar energy generation capacity through a competitive auction process:

* Electricity Feed-in (Large-scale Renewable Energy Generation) Bill 2011 External Link

The ACT Government recognises that competent solar energy developers can lower the cost of renewable energy if they are given an opportunity to optimise the technology employed, and the size and location of their proposed facilities.

The auction will lead to the establishment of solar energy generation, in addition to the Micro and Medium scale elements of the existing ACT Electricity Feed-in Tariff Scheme, that will:

* significantly contribute to the Territory’s greenhouse gas abatement targets;
* leverage economies of scale and location, provide financial security for developers and reduce solar energy costs; and
* enhance the clean energy industry in the ACT.

An information package for prospective participants in the auction process will be provided following the passage of the legislation.

See for more information.

Ryan Corner & Hawkesdale Windfarm Extension
The Victorian Minister for Planning has approved the extension of time for Ryan Corner and Hawkesdale wind farm project planning approvals, enabling Early Works construction to commence in early 2012

Union Fenosa Wind Australia is progressing its plans to build two wind farm projects in south west Victoria, and the company has today received an extension of time for its Planning Permit Approval. The extension enables the company to proceed with the Early Works construction that it plans to commence in early 2012.

The extension enables the company to proceed with Early Works construction that it plans to commence in early 2012. The Early Works construction will include a VicRoads-approved entrance to the site from public roads, a site compound for the location of the Site Management Team offices, and part of the internal access track network. Union Fenosa Wind Australia has selected Portland-based GR Carr Construction to construct and deliver the Early Works package at both Ryan Corner and Hawkesdale sites.

victorian wind farms

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Feb 18

Waterloo Wind Farm
The Waterloo wind farm has been officially opened in the mid-north of South Australia. Roaring 40s has built 37 wind turbines which it says will power about 46,000 properties from its 111MW capacity. The Premier Mike Rann said renewable energy now provided 18.8 per cent of SA’s power requirements and it was planned to reach 33 per cent by 2020.

Roaring 40s wants to put additional turbines at the Waterloo site and is keen to build wind farms at Stony Gap and Robertstown.

India
The Indian government may enlist the help of Oil & Natural Gas Corp., the state-run explorer, in surveying offshore wind-power potential and setting up the nation’s first two wind farms at sea. “We’re thinking of two pilot projects in Tamil Nadu and Gujarat states,” Deepak Gupta, secretary of the Ministry of New and Renewable Energy, said yesterday in an interview on the sidelines of a wind conference in New Delhi.

offshore wind india

Jan 13

Algae Tec
Algae.Tec that uses algae to produce biofuels and store carbon dioxide will make its debut on the stock exchange today after raising $5.1 million from investors.

Algae.Tec, an Australian-US collaboration, has signed a memorandum of understanding with the ethanol producer Manildra for a demonstration algae production plant at Manildra’s starch and ethanol facility at Nowra on the NSW south coast.

Leighton Contractors has a non-binding commitment to build and operate the Nowra plant, which Algae.Tec hopes will begin commercial production of algae biofuels by early next year.

Suzlon
Suzlon Energy Ltd. signed an agreement with western Indian state of Gujarat to develop 1,000 megawatts of wind power capacity.

suzlon

Gamesa
Syria awarded Gamesa Corp. of Spain a contract to build the country’s first wind farm and Germany’s Sunset Energietechnik GmbH another for a solar plant. Gamesa out of five bidders to build a 60-million euro ($78 million) 50MW wind farm. Vestas, will also develop a wind energy project with generation capacity of 50 to 100 megawatts south of Damascus.

Department of Climate Change
The department of Climate Change (DCC) has just released draft legislation on carbon farming initiatives and invites responses. The responses on the draft legislation are required in a ludicrous time period of just two weeks.

CBD Energy
Gerry McGowan is getting frustrated like the rest of the renewable industry with inconsistent government policy. In an AFR article McGowan goes onto to attached the duopoly of AGL and Origin the market.

Revised MRET
The revamped REC scheme started earlier this year on the 5th Jan. Despite the introduction of the revised scheme the REC spot price is still around $29.00 for large scale certificates, which is close to last years low of $27.25.

The renewable industry is hoping the REC prices will firm when Origin and TRUenegry start buying for the longer term to cover their new retail books acquired in the NSW energy privatisation.

carbon farming

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Nov 15

Goldwind
Goldwind, will invest an additional 2.15 billion yuan ($325 million) in five different wind units, using funds from the initial public offering in Hong Kong.

MacGen
Tomago Aluminium has finalised an 11 year power purchase agreement with the state owned Macquarie Generation. The finer details of the 900MW PPA contract have not yet been released but it said to interruptibility clauses to allow MacGen to suspended power in times of severe generation disruptions. The contract also hedges the power price to the London Metals Exchange price from Aluminium, this clause cost MacGen dearly in 2008 when the price of aluminium fell sharply.

Hydro Aluminium’s smelter plant at nearby Kurri Kurri has been in negotiations with Delta Electricity. These negotiations have been suspended for both parties to digest the Tomago contract.

liddell power station

Infigen
Infigen Energy’s biggest stock holder, The Children’s Investment (TCI) Master Fund (~22%), has demanded a seat on the company’s board, trigger the resignation of the then chairman Graham Kelly.

The recent performance of Infigen has put a lot of pressure on the board and the TCI’s pressure could be good for the performance of the stock.

ACT
The ACT Government has admitted that its solar power feed-in schemes will add $225 to the average annual household bill in Canberra. The scheme promises to generate up to 25 per cent of the city’s power within a few years with solar farms dotted around the territory and vast photovoltaic panels on shopping centre and warehouse roofs.

Iberdrola
Iberdrola Renewables has begun construction on a 26.8MW biomass power plant in southeastern Oregon, forging ahead with an expansion of its business lines in North America.

The facility will be cooled entirely by air, reducing water use by more than 80 per cent compared with conventional plants, and derive sawmill waste from Collins Pine as fuel. Collins will also purchase the equivalent of 2MW of steam from the project to run its lumber drying process more efficiently. The project is due for completion in 2012.

Risø DTU
The Danish National Laboratory for Sustainable Energy, Risø DTU, has been granted DKK 20 million from the EU to develop a 20MW offshore vertical wind turbine.

CEC
Last week the Clean Energy Council released a technical report from experts on the noise impacts of wind farms in Australia. The report provides independent technical advice that concludes there is no evidence that residents will suffer any direct health effects as a result of living near wind farms.

Key points of the report include:

  • The Standards and Guidelines used in Australia and are amongst the most stringent and contemporary in the world,
  • There is detailed and extensive research and evidence that indicates that the noise from wind farms developed and operated in accordance with the current Standards and Guidelines will not have any direct adverse health effects.

See the CEC paper or the
Victorian Work Safe document

Ararat
Protestors from across the state descended upon Penshurst to rally against one of Victoria’s largest wind developments on Saturday. Busloads of racegoers travelling through Penshurst on the way to Dunkeld were greeted by scores of placards from an imposing group of anti-wind farm lobbyists spouting slogans such as “Wind Farms Make Me Sick” and “Wind Farms Kill Birds”. Representatives from RES were in town holding an open day with displays of birds-eye turbine layouts and photographic predictions of the Ararat wind farm project.

waubra disease

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Nov 11

BP Solar
BP is vying for a slice of the Australian government’s Solar Flagship funding to develop a solar energy project in Moree, NSW.

BP’s proposed $600 million, 150 MW PV project, is proposed near the country town of Moree, 640km northwest of Sydney. SunTech/Infigen are also proposing a smaller 60MW solar project in Moree as part their four site Solar Flagship proposal.

IEA
The International Energy Agency (IEA) estimates $5.7 trillion will be invested in electricity generation from renewables such as wind and solar power during the next 25 years, according to their World Energy Outlook, published yesterday.

Global subsidies for renewable energy totaled $57 billion in 2009. The agency estimated that last year $37 billion of support was given to electricity from renewable power, and $20 billion to biofuels. Government support for the industry can be justified “by the long term economic, energy security and environmental benefits they can bring,” the agency said.

Transfield Services
Transfield Services had recently made improvements to increase the efficiency of the poor performing turbines at Starfish Hill wind farm, but that was not enough to stop a turbine fire two weeks ago. The details of the fire are yet to be released.

moree solar project

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Oct 12

ETS
THE federal government aims to legislate for a price on carbon late next year and have a scheme operating well before the next election in a bid to lessen the impact of a predicted fear campaign as voters go to the polls.

Cool nrg
Standard Bank (Africa’s largest lender), will today announce a multi-million investment in the Australian company Cool nrg to help advance the world’s first energy efficiency program targeting households under the Kyoto Protocol.

Cool nrg has been the subject of international attention for its plan to replace 45 million incandescent light bulbs in 12.5 million Mexican households under the United Nations Clean Development Mechanism.

Enerji
Green power utility Enerji has signed an MoUagreement with WA state government owned power company Horizon Power to establish a Power Purchase Agreement (PPA).

The companies have agreed to work together to integrate Enerji’s Opcon Powerbox (waste to energy plant) into Horizon Power’s Canarvon power station.

Enerji is a partner of Opcon who developed the proprietary Opcon Powerbox product for production of new carbon-free electricity primarily from waste and surplus heat at temperatures as low as 55° C. Among other applications, Opcon Powerbox can be installed in large process plants, power stations, large diesel engines and large ships and can produce up to 6,000 MWh per year.

Siemens
Siemens strengthens its commercial ties with the Canadian province Ontario, securing a follow-up order for 72 of its turbines to be installed at the 166MW Comber wind farm in Essex County.

siemens wind turbine

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Sep 07

Election
The long wait is over as the independent MPs allign with Gillard to form a minority government.

Miners’ nightmare is coming true
The worst case scenario for the miner is the Green controlled senate which is complemented by the representation in the lower house with the alliance with the labor government. The resources super profits tax is no looking likely with Bob Brown in a good position to negotiate it’s final structure. This means the RSPT may eventually cover more commodities than just iron ore and coal.

NSW Energy Sale
The price renewable energy credits (RECs) has plunged in recent weeks as the proposed privatisation of the NSW electricity retailers prevents them from purchasing RECs on the market.

The spot price of RECS has returned to level near $34 and the contract price as also dropped which could effect the viability of projects and delay their development/construction.

The bids for the NSW electricity retailers are due by November 1, so it is possible they will stay out of the REC market until then.

Acciona
Renewables giant Acciona has started initial production from a new 16MW biomass plant in Briviesca, Spain. The €50m ($64.2m) plant, which uses waste straw as fuel, will create around 100 jobs.

Briviesca is in the Burgos province, which is part of the central Castilla y León region.
Acciona has signed contracts with more than 100 farmers and 38 companies in the area to supply agricultural waste for the project. The plant is 85% owned by Acciona and 15% by local power utility Ente Regional de la Energía.

Acciona started its first straw combustion biomass plant, the 25MW Sangüesa facility in Navarre, in 2002. It also has two 4MW biomass plants that use forestry and timber waste in the provinces of Soria and Cuenca.

Acciona is also developing five more biomass projects in Spain. They are

- 16MW in Almazan, Soria;
- 25MW in Valencia de Don Juan, Leon;
- 16MW in Alcazar de San Juan, Ciudad Real;
- 16MW in Mohorte, Cuenca;
- 9MW in Utiel, Valencia

Origin
A contract to develop 240MW of geothermal power in Indonesia has been won by a consortium of India’s Tata Power, Australia’s Origin Energy and PT Supraco Indonesia.
The Sorik Marapi geothermal project, located in northern Sumatra, will be developed by PT Sorik Marapi Geothermal Power (SMGP), formed by the consortium for the project.

Tata Power and Origin Energy have equal stakes of 47.5% in SMGP, while Supraco Indonesia holds 5%. Over the next 18 months, the consortium will carry out a detailed exploration program. The project is scheduled for commercial operation in June 2015.

“Tata Power has a strong mission to achieve at least 25% of its generation portfolio through renewable sources of energy by 2017, geothermal energy being one of the prime renewable growth engines,” says Prasad Menon, managing director of Tata Power.

Syngas
Premier of South Australia, Mike Rann, announced that a A$300,000 grant has been jointly awarded by Renewables SA (renewablessa.sa.gov.au) to Syngas Limited (ASX: SYS) and the Yorke Peninsula Alkaline Soils Group (YPASG). This grant, in addition to in-house resources, will be used to complete large scale logistics management field trials on the Yorke Peninsula and Mid North.

This is the first step in establishing the commercial viability of an entirely non-food Biomass-fed 1,200 barrel-per-day, liquid transportation fuel plant in the Yorke Peninsula area. The field trial outcomes will also allow other Biomass projects to be assessed, for example, bio-power generation.

The program will involve specialised equipment trials, business process mapping, collection, storage and transportation process measurements (i.e. time, product quality, and costs) as well as comparative process/method performance measurement.

The focus will be on commercial scale collection, storage and transportation of:-
• Cereal crop by-products, namely chaff and residual straw; and
• Non-food biomass energy crops, planted as part of an overall farm management / crop rotation cycles to maintain or enhance overall soil productivity and primary crop production capacity.

New Zealand
Engineers have poured cold water on Energy Minister Gerry Brownlee’s draft energy strategy involving reduction of fossil-fuel power and more emphasis on wind generation.

Prime Minister John Key’s government has called for 90 percent of New Zealand’s electricity to be generated renewably by 2025, a significant lift from the current level of 73 percent generated from hydro, geothermal and wind resources.

The nation last generated more than 90 percent of its electricity from renewable sources in 1981. Even if all electricity generators now under construction and consent were built, the level of renewable sources in the electricity consumed in 2025 was likely to be 68 percent, he said.

Mr Davin said one scenario involving the partial closure of Huntly Power Station and two major gas plants with more emphasis on South Island wind generation was “not going to happen”.

Italy
Italy’s wind farms, hailed as a source of clean energy, are generating more than electricity after becoming the latest industry to be infiltrated by the country’s mobsters.

Attracted by the prospect of generous grants designed to boost the use of alternative energies, the so-called ”eco Mafia” has begun fraudulently creaming off millions of euros from the Italian government and the European Union.

And nowhere has the industry’s reputation become more tarnished than Sicily, where turbines now dot the horizon in Mafia strongholds such as Corleone, the town better known as the setting for the Godfather films.

Alinta Sale
ACWA Power International, back HSBC, may be primed to being Lynch bid for all of Alinta Energy’s assets on September 10, but the message being put across by the Alinta camp is contrary to popular from opinion, it’s by no means the utility only contender.

Origin Energy is understood to removed itself from the race for Alinta assets, with its focus squarely on the NSW electricity privatisation process. AGL hasn’t ruled itself out, but with a similar focus to Origin the company would be unlikely to bid.

Queensland
Queensland is facing electricity shortages by as soon as 2013-14, while both Victoria and New South Wales will face blackouts later than predicted, according to the latest annual forecast drawn up by the electricity market manager.

The annual Statement of Opportunities by the Australian Energy Market Operator has put back until 2015-16 when Victoria will face shortages.

NSW is not predicted to face power shortages until 2016-17 - well after the 2013-14 date put forward by Professor Tony Owen in 2007, when the NSW state government was pushing for the sale of state-owned electricity assets.

Victoria
Premier John Brumby has called on Victorians to support his landmark climate change law which, for the first time, has set a bipartisan, ambitious target to cut carbon pollution.

The proposed legislation sets a carbon cut of 20 per cent of 2000 emission levels by 2020. Taking into account population growth, the target translates to a 40 per cent cut in emissions per Victorian.

The Sunday Age believes that the government is likely in the next few weeks to announce a second solar plant in the north, to cost about $100 million. A key part of the government’s climate change pitch is the target of 5 per cent of the state’s energy coming from large-scale solar farms by 2020.

A significant cut in pollution will come from the plan to close a quarter of Hazelwood, Victoria’s worst-polluting coal-fired power station. But the plan relies on co-operation from Hazelwood’s owners and federal government funding.

Infigen Energy
INFIGEN Energy reports a $73.5 million net loss after failing to sell its US and German wind farms and offloading French assets at a loss. Profits were also hurt by a strong Australian dollar, which contributed to a 3 per cent fall in revenue to $314.3m from $324.9m, slow wind speeds and lower electricity prices in the US.

The annual net loss compared with a $192.9m profit in the previous year, when earnings were boosted by the $2.4 billion sale of assets in Portugal and Spain.

Infigen cut management ties with debt-laden investment house Babcock & Brown in late 2008 and was hoping a successful sale of its European and US assets would take more strain off its balance sheet, giving it more capital to invest in Australia.

But its shares were hammered earlier this year after the French assets were sold for a $12.9m loss and Infigen terminated the US and German auctions after failing to attract adequate bids.

Shannons Flat
Hunger striking farmer Peter Spencer lives to fight another day in the High Court.
He’s been granted leave to appeal to the High Court after all seven judges unanimously granted his appeal and set aside the earlier Supreme Court decision of Justice Emmett, relating to property rights and land clearing on his Shannon’s Flat property.

The Commonwealth was ordered to pay Mr Spencer’s costs. Mr Spencer claims that land clearing laws denied him the ability to farm and that carbon credits were stolen from his property by the Commonwealth without compensation.

CBD Energy had plans to develop the area for a proposed wind farm before the negative press.

Glen Innes Wind Farm
Infigen’s proposed 26 turbine Glen Innes wind farm is expected to proceed with a slightly modified layout following an agreement between the wind farm proponents and residents, the Department of Planning said today. The Department of Planning has issued this statement following media reports on the issue this morning.

The NSW Government last year gave planning approval for the 26-turbine, $150
million wind farm, located 12km west of Glen Innes. The approval was challenged in the Land and Environment Court by the Glen Innes Landscape Guardians. However, prior to the start of the hearing, the wind farm proponent and the guardians group were able to come to an agreement on a revised layout of the project, including various amendments to the conditions of approval. The amendments included:
• Deleting one turbine from the project;
• A commitment by the proponent not to seek the re-instatement of one turbine
deleted by the former Minister for Planning as a condition of the approval; and
• The relocation of several turbines further away from residences.

The NSW Government supported the revised turbine layout and the parties entered
into a consent orders hearing at Armidale Court house on 9-10 August 2010. The Court approved the parties’ agreement in a verbal decision delivered in Court on 10 August 2010. However, the Court is still to hand down its written judgment and provide stamped conditions of approval.

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Jul 30

Siemens
Posts US $1.9 Billion Quarterly Profit. Siemens, whose products include wind generators, high-speed trains and X-ray scanners, said sales in the three months through June rose 4 percent to 19.2 billion euros compared to the same period a year earlier, and new orders rose 22 percent to 20.1 billion euros compared to the same period in 2009.

Profit in Siemens’s energy business rose 7 percent to 925 million euros. Siemens said that while the market for equipment and services for fossil power generation was “challenging,” though still profitable, it recorded big gains in supplying equipment for offshore wind farms.

Siemens wind turbine

Brazilian Biomass
The Brazilian Electricity Regulatory Agency, Aneel, today approved the ceilings for two tenders. Power from the reserve tender will be bought by the government and will not count towards official supply needs of the grid.

Wind developers are extremely concerned that they will be unable to compete against biomass projects, seen to be much more competitive.

At the reserve tender, biomass plants will compete with a ceiling of R$156/MWh (AU$248); wind at R$167/MWh (AU$265); and small hydro at R$155/MWh (AU$246).

SunPower
SunPower is teaming with Solar Ventures to develop three solar power parks totaling 11.1MW in the Piedmont region of Italy. The plans call for SunPower to mount solar panels on fixed-tilt, systems over an area of 100 hectares.

SDE
Israel-based SDE has started building its first large-scale sea wave power plant with a maximum capacity of 50MW in Jaffa port. The new sea wave power project is the ninth plant to be built by SDE.

The initial phase of the project will produce 100kWh, with only one buoy under a fully automatic model, the company announces. Only 10% of the whole system will be submerged in water, hence minimising the risk of damage to the system under rough sea conditions.

Israel’s Electric Corporation is also willing to purchase the electricity from the plant at “a very attractive price of 12 cents per kW”, according to SDE.

The estimated erection cost of a 1MW SDE wave power plant starts from $650,000 while a comparable coal-fired station would cost $1.5m, natural gas plant at $900,000, solar plant at $3m and wind plant at $1.5m, SDE says.

SDE’s production cost per kW is estimated at 2 cents, compared to 3 cents from coal, 3.5 cents from natural gas, 12 cents from solar energy and 3.6 cents from wind.

wave power plant

BAE Systems Plc
BAE, Europe’s largest defense company, is also extending its diversification into civil engineering and technology contracts. The company was hired by Aquamarine Power Ltd. to help design and build wave-energy generators.

Energy Development Corp - Philippines
Energy Development to Boost Geothermal Generating Capacity 38% in 5 Years. The Energy Development Corp., the Philippines’ largest producer of geothermal energy, said it plans to boost generating capacity by 38 percent from 1,116 megawatts to 1,542 megawatts in five years starting 2011. It issued a statement in Manila before the company annual meeting.

geothermal

Unmistakable’ Evidence Shows World Getting Warmer, NOAA Says
Scientific evidence that the world is getting warmer is “unmistakable,” according to a report by the National Oceanic and Atmospheric Administration drawing on research from 48 countries, including Russia and China.

The past decade was the warmest on record and the past 50 years have been getting hotter, the researchers said, citing 10 main indicators, including surface and ocean temperatures, the amount of sea ice and glaciers and levels of humidity.

Globally, air temperature near the surface in the past 10 years was 1 degree Fahrenheit (0.6 Celsius) warmer than the 1960s and about 0.4 degree warmer than the 1990s, according to the report.

melting icebergs

See Bloomberg.com for the full articles

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Jul 12

Egypt Ministry to Invite Bids for 1,000MW Wind Park
Egypt plans to invite bids for the construction of a 1,000-megawatt wind-energy park in the Gulf of Suez at an international tender in September, Aktham Abou El- Ella, a spokesman for the Electricity Ministry, said today.

Construction of the facility, which will be located in the Gabal El-Zeit area, will be tendered on a build-own-operate basis, Abou El-Ella said in an interview in Cairo.

“Ninety percent of the land in Egypt is empty and is suitable for setting up wind farms,” Abou El-Ella said. “With solar power, plant costs are very high, and with hydraulic power reaching its maximum capacity, wind farms remain the best option for renewable energy in Egypt.”

The North African country already can generate 500 megawatts of power through wind projects in the Zaafarana area in the Gulf of Suez.

Alstom SA
Alstom SA (ALO FP) The French maker of energy-generation equipment said it received a contract worth 100 million euros ($126 million) from Desenvix for a wind farm in the Brazilian state of Bahia.

Spain Said to Save $1.5 Billion With Cuts for Wind, Solar Thermal Power
Spain will save consumers at least 1.2 billion euros ($1.5 billion) through 2013 by cutting the subsidies they pay to wind farms and solar thermal plants, a person familiar with the government’s analysis said. The cuts are said to be announced by the end of July.

Egypt Plans to Build $700 Million Solar Power Plant
Egypt plans to build a 4 billion Egyptian-pound ($700 million) solar power plant in the south of the country, Al Ahram newspaper reported today, citing Electricity Minister Hassan Younes.

The plant, which will be located at Kom Ombo in Aswan province, will be financed by institutions including the African Development Fund, according to the Cairo-based newspaper.

German Solar-Power Subsidy Reductions Passed by Upper House of Parliament
Germany’s upper house of parliament backed reductions in solar-power subsidies of as much as 16 percent after offering the industry an extra three months to adjust to the cuts.

The measure trims so-called feed-in tariffs for solar power fed into Germany’s electricity grid by 16 percent for rooftop equipment, 15 percent for farmland and 11 percent for spaces such as former industrial or military sites, effective July 1.

US Biomass future clouded
An energy technology that has long been viewed as a clean and climate-friendly alternative to fossil fuels is facing tough new regulatory hurdles that could ultimately hamper its ability to compete with renewable power sources like wind and solar.

A long-simmering debate in Massachusetts questioning the environmental benefits of biomass has culminated in new rules that will limit what sorts of projects will qualify for renewable energy incentives there. If other US states, (or even Congress, which is writing energy legislation of its own) follow suit, it could have wide implications for biomass developers, as well as for states trying to meet renewable energy production targets.

Finavera enters ‘definitive’ deal to sell
Canada’s Finavera Renewables says it has entered into a “definitive” agreement to sell its ocean energy subsidiary, including all assets and intellectual property related to the AquaBuOY wave power technology.

AquaBuoy wave power

See Bloomberg.com for more information.

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Jun 21

Enel SpA, Italy’s biggest utility, filed a request today with the Italian Stock exchange for the initial public offering of shares in its Enel Green Power unit as soon as October.

Enel Green Power manages wind, solar, biomass, hydroelectric and geothermal power generation in 17 nations in Europe and the Americas. The IPO is the centerpiece of Enel’s plans to sell 7 billion euros ($8.6 billion) of assets to reduce debt to 45 billion euros this year from 51 billion euros.

Enel expects to raise about 4 billion euros in the share sale, Enel Chief Executive Officer Fulvio Conti said April 9.

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