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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Swansea Bay tidal lagoon project seeks £10m funding

Category : Business

Entrepreneur, Mark Shorrock, says scheme could power 107,000 homes and generate 250MW of renewable energy

A project to power 107,000 homes using a tidal lagoon in Swansea Bay is seeking £10m of funding from the public.

The first of its kind in the UK, the scheme intends to generate up to 250MW of renewable power by harnessing the tides to drive enormous turbines, enough to meet Swansea’s annual domestic electricity needs.

Tidal Lagoon, a company backed by entrepreneur Mark Shorrock, who previously developed windfarms in Scotland and solar arrays in Cornwall and Spain, wants to start construction in Swansea in 2017.

Shorrock said tidal lagoons could eventually provide 10% of the UK’s energy, and the company has already carried out initial investigations into a second project in Cardiff Bay.

Nearly seven miles of breakwaters need to be built to create a lagoon which will capture water at high tide. Once the sea begins to flow the other way, release gates will funnel water through turbines set in the lagoon wall.

Tidal Lagoon is offering small-scale investors a 55% stake in the company to fund it through the planning stage. About 10,000 shares worth £800 each will be issued, with the offer expected to close by 7 June.

Half of those shares will be offered under the government’s enterprise investment scheme, which offers tax relief to those buying shares in smaller, higher-risk companies.

“We are keen to attract investment from ordinary individual shareholders who like the idea of shifting the energy mix to a low-carbon, benign format,” Shorrock said.

He is confident of securing major funding from pension funds and the government’s green investment bank once Tidal Power has secured planning permission in Swansea. But he says: “Where we struggle to get government, pension funds or energy investors is this stage. It is the good people of the UK that will really help the project take wing. Everyday people are more ballsy and happy to take risks on something they believe in.”

The technology is not new – a 240MW system has been in operation in La Rance, France, for nearly 50 years and a 254MW project was recently launched at Sihwa lake in Korea – but similar projects planned in the UK have been delayed because of the relatively high costs of building the lagoons.

Such tidal projects have also been lumped in with the unpopular Severn Barrage plan, which has yet to get off the ground partly owing to worries over the environmental impact of blocking a major estuary.

Shorrock insists the Swansea project is environmentally friendly because it does not stop the sea flowing in and out, and does not harm seabirds. Friends of the Earth supports the technology, saying it could produce “clean and effortless energy”.

Shorrock has used profits from previous enterprises, as well as investment from unnamed wealthy individuals, to fund three years of development on the tidal lagoon including environmental surveys, local consultation and design.

The Swansea project must now put together a set of detailed designs before seeking approval from the government, which oversees significant infrastructure developments. Shorrock claims the project has local backing and will create up to 4,500 jobs, including those related to building the breakwater and the turbines, as well as managing it as a tourist attraction and leisure facility in the future.

‘Giant’ Irish turbines to power UK

Category : Business

UK and Irish ministers will today sign an agreement that could see some of the world’s largest wind turbines built across the Irish midlands.

Read the original here: ‘Giant’ Irish turbines to power UK

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Race to beat wind energy deadline

Category : World News

US energy companies race to install wind turbines before a federal tax subsidy expires at the end of this year.

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Trump ‘advert complaints’ upheld

Category : Business, World News

Complaints about newspaper adverts commissioned by the Trump Organisation showing broken and rusting wind turbines are upheld.

See more here: Trump ‘advert complaints’ upheld

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UK windfarms generate record amount of power

Category : Business

4.1GW total from wind turbines is enough to light and heat more than 3m British homes

Britain’s windfarms broke a new record on Friday by providing over four gigawatts of power to the National Grid – enough to light and heat more than 3m British homes.

It beats a previous high of 3.8GW set in May and comes as a further 4GW of wind turbines are being installed, half on land and half offshore.

Just before 10am, wind turbines were supplying 10.8% of the total amount of electricity going into the grid while an additional 2.2GW of “green” power was going directly into local electricity networks.

“This record high shows that wind energy is providing a reliable, secure supply of clean electricity to an ever-greater number of British homes and businesses,” said Maria McCaffery, chief executive at the campaign group RenewableUK. “As our wind energy capacity increases, the need to import expensive fossil fuels starts to diminish. The transition to a low-carbon economy is well under way and harnessing this bountiful, free resource will help us to drive down energy bills for all users in the long term.”

Critics will point out that the 4.1GW total compares with the UK’s largest coal and biomass-fired power station, Drax in North Yorkshire, which produces almost that amount of power on its own.

Building Turbines, Inc. (BLDW: OTC Link) | Quarterly Report

Category : World News

Sun, Mar 25, 2012 01:13 – Building Turbines, Inc. (BLDW: OTC Link) released their Quarterly Report concerning 1st Quarter 2012. To read the complete report, please visit:

Go here to read the rest: Building Turbines, Inc. (BLDW: OTC Link) | Quarterly Report

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Energizing the new ‘wasteland’

Category : World News

Regarding the March 6 article “Tsuruga nuke plant sits atop major fault”: Japan has a chance to really shine again. Give up nuclear power and show the world that it is possible to generate power to run a country from alternative sources such as solar and wind.
Japan now has hundreds of thousands of acres of wasteland never to be inhabited by humans again — the area 20 to 30 km from the Fukushima No. 1 plant reactors — where hundreds of thousands of solar panels and wind turbines could be set up to provide hundreds of thousands of homes and businesses in Japan with all the power they need.

Continued here: Energizing the new ‘wasteland’

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Wind turbines threaten swans, says bird expert

Category : World News

A waterfowl specialist says wind turbines could spell danger for Tundra swans in Lambton County.

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Toshiba opens power equipment plant in India

Category : World News

Toshiba Corp. Chief Executive Officer Norio Sasaki attended the opening ceremony Sunday of a state-of-the-art plant that the company helped construct in Chennai to build steam turbines and generators for thermal power plants in India.
Production of power generation components is already under way at the complex. Toshiba hopes the experience will help it land more large-ticket orders in India’s fast-growing power generation sector.

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PM urged to cut wind farm subsidy

Category : Business

More than 100 Conservatives are among MPs who have written to the prime minister calling on him to slash subsidies for onshore wind turbines.

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