It isn’t hard to predict how the controversy over defunct solar-panel maker Solyndra LLC will end. Congressional Republicans will in due course issue a final report decrying crony capitalism and demanding an end to the federal program of loan guarantees to alternative energy companies.
Democrats will respond with a dissent, concluding that no rules were broken or even bent, but proposing, just in case, the addition of a new layer of expensive bureaucratic overseers atop the program.
Certainly there will be plenty of grist for both mills. Solyndra’s decision to file for bankruptcy and dismiss more than 1,000 employees after receiving a $535 million loan guarantee from the Energy Department is a black eye for the program, especially now that journalists have uncovered many red flags that bureaucrats missed along the way. And the insistence by the White House that no political favors were involved fails to pass the giggle test.
On the other hand, with commercial lending markets still largely locked up, and the need for the development of alternative fuels as pressing as ever, a better-managed program of loan guarantees has an undeniable appeal.
Posted by: admin | Posted in: Global Business | Posted on: 09-20-2011
September 20, 2011 | Embassy of the Republic of Indonesia | Washington DC
The Embassy of the Republic of Indonesia hosted an event today that featured the Free Trade Zone (FTZ) located in the Riau Islands Province. The Governor of Riau Islands Province, Drs. Muhammad Sani, was the guest of honor, and members of his staff provided important information on doing business in the FTZ.
Mr. Leonardo Stoute, President of LSI Group, and his staff were among the invited guests at the event. Many good connections were made and we will post future developments on this site.
–New Power Plant a Catalyst for Growth in the East Kalimantan Region
GE’snewest aeroderivative gas turbine technology has been selected for a new, independent power plant (IPP) that will help meet an urgent need for more electricity in the rapidly growing East Kalimantan region of Indonesia. The project also supports the Indonesian government’s initiative to increase the overall supply of reliable power for the country, where approximately one-third of the population has no access to electricity.
GE will supply two 41-megawatt LM6000-PG aeroderivative units to PT Kartanegara Energi Perkasa (KEP), owner of the Senipah Power Plant, located 70 kilometers from Balikpapan, East Kalimantan. This will be the first installation of the technology in Asia and the second in the world, following a project at Turlock, Calif., which recently was commissioned. Building on the success of the LM6000 product line, the LM6000-PG offers increased power output, operating flexibility and efficiency, among other key features.
Today, approximately 70 million Indonesians are without electricity. To close this gap, the Indonesian government plans to connect an additional 1.3 million households per year to the grid, through the year 2025. As a shorter-term goal, the government is working to reach a 65 percent electrification ratio across the country by the end of this year. Read the rest of this entry »
LONGMONT, Colorado (July 15, 2011) – First Nations Oweesta Corporation is proud to announce that three more Native CDFIs, Aloha Federal Credit Union, Cha Piyeh, and Northwest Native Development Fund have been officially announced by the CDFI Fund as newly certified CDFIs.
“We are extremely pleased with the monumental growth of the Native CDFI sector,” said Jon Panamaroff, executive director and senior vice president for Oweesta. Panamaroff also shared, “With the certification of Aloha Federal Credit Union, Cha Piyeh and Northwest Native Development Fund, this brings our total to 66 certified Native CDFIs. Thank you to everyone working at these CDFIs, and their communities and partners, for making this possible.”
Sept. 12 (Bloomberg | Original Article) — Indonesian stocks have become more attractive to overseas investors after the world’s fourth-most populous nation overtook Malaysia as Southeast Asia’s second- largest equities market by value, PT Panin Sekuritas said.
“Foreign investments into Indonesian stocks will likely increase as portfolios are weighted in line with the size of a nation’s stock market,” Winston Sual, who helps manage $991 million at Jakarta-based Panin Sekuritas, said in a Sept. 9 interview. The firm’s $407 million Panin Dana Maksima fund has climbed 40 percent in the past year, beating 35 rival funds, according to data compiled by Bloomberg.
The value of Indonesian equities surged 17 percent to $416 billion this year to Sept. 9, surpassing Malaysia’s $407 billion to become the ninth-biggest stock market in Asia. Singapore’s stock market is the biggest in Southeast Asia at $523 billion. The Jakarta Composite index has risen 8 percent in 2011 through last week, compared with a 3.3 percent drop in the FTSE Bursa Malaysia KLCI Index. Read the rest of this entry »
General Electric has signed a memorandum of understanding with Indonesia’s technology assessment and application agency (BPPT) for joint development of renewable energy utilization, cleaner coal and energy efficiency projects.
The two sides will work together to study key issues that can support commercial implementation of renewable energy projects such as biogas, biomass, geothermal, solar and wind in Indonesia.
“It (the agreement) supports the government’s goal to increase renewable energy’s share of the country’s energy mix to 17% by 2025, compared to today’s 3.4%,” says BBPT chairman Marzan A. Iskandar.
Indonesia’s energy demand is increasing about 7% a year in response to robust economic growth. The government is offering tax incentives for the development of renewable energy projects to help reduce the country’s dependency on fossil fuels.
It isn’t hard to predict how the controversy over defunct solar-panel maker Solyndra LLC will end. Congressional Republicans will in due course issue a final report decrying crony capitalism and demanding an end to the federal program of loan guarantees to alternative energy companies.
GE’snewest aeroderivative gas turbine technology has been selected for a new, independent power plant (IPP) that will help meet an urgent need for more electricity in the rapidly growing East Kalimantan region of Indonesia. The project also supports the Indonesian government’s initiative to increase the overall supply of reliable power for the country, where approximately one-third of the population has no access to electricity.
LONGMONT, Colorado (July 15, 2011) – First Nations Oweesta Corporation is proud to announce that three more Native CDFIs, Aloha Federal Credit Union, Cha Piyeh, and Northwest Native Development Fund have been officially announced by the CDFI Fund as newly certified CDFIs.
By Berni Moestafa and Chan Tien Hin
