2007

U.S. Power Market getting tight

The North American Electric Reliability Corporation (NERC) issued its annual summer outlook for the U.S. power system. Reserve margins are expected to fall below the critical 15% mark in six regions including Texas, New England and California. The report underscores the continuous improvement in market conditions for power generators. Please refer to the PDF Document below to view the full monthly report for the EIC Energy Utiltiy Fund. 

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Offshore Wind is gaining Momentum

Offshore wind developments are gaining momentum: Royal Dutch Shell and Dutch utility Nuon have started commercial operations at a 108 MW wind farm offshore the Netherlands. Danish oil and gas company DONG Energy signed contracts with Siemens Wind Power for the delivery of 108 MW of wind turbines for the Gunfleet Sands wind farm offshore the UK. The farm will be fully operational by the end of 2009. The Spanish government intends to draft legislation by the end of the year that will allow the construction of offshore wind farms. Please refer to the PDF Document below to view the full April 2007 report for the EIC Renewable Energy Fund.

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EU agrees on binding Renewable Energy Target

The EU heads of state and government agreed on a binding 20% target for renewable energies in overall EU energy consumption by 2020. Please refer to the PDF Document below to view the full monthly report for the EIC Renewable Energy Fund.

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Drive for Renewable Energies intensifies

The European Commission proposed a comprehensive new Energy Policy that includes a cut in greenhouse gas emissions by at least 20% until 2020. Designed to combat climate change and boost energy security and competitiveness, the proposal has ambitious targets. In his State of Union speech, President Bush outlined plans to reduce gasoline consumption by 20% over 10 years. Bush called for a raise in the mandatory renewable fuels standard from 7.5 billion gallons to 35 billion gallons by 2017.

Please refer to attached PDF document to view the full monhtly report for the EIC Renewable Energy Fund.

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