The T-Solar Group Signs up $145m to Fund its Projects in Peru

• Total capex for the two power plants (44 MW) in Peru is over $165 m.

• Three Development Finance Institutions - OPIC (USA), FMO (Netherlands) and PROPARCO (France) - will be co-funding the projects alongside T-Solar.

• T-Solar has more than 230 MW under operation or construction in Spain, Italy, India and Peru.

The T-Solar Group ("T-Solar"), a major operator in the solar photovoltaic power generation market, is pleased to announce that it has signed three loan agreements for a total of $145m to finance two photovoltaic power plants with an aggregate capacity of 44 MW in Peru. The two plants will be the first large-scale solar photovoltaic energy projects in Latin America. 113,600 thin-film amorphous hydrogenated-silicon modules produced by T-Solar's Orense, Spain factory will be deployed over 206 hectares of land in the Arequipa region in southern Peru. Isolux Corsán, T-Solar's parent company, has been retained as EPC contractor and will carry out construction works. The two solar plants are expected to produce 80 GWh a year, enough electricity to supply 80,000 people.⁽¹⁾ Project construction will generate over 160 direct jobs amongst the local population. The plants are expected to be connected to the national grid by the second semester of 2012. The total capital expenditure for the two projects is over $165m. The Overseas Private Investment Corporation (OPIC), a US government agency promoting sustainable US investment abroad, will provide up to $131m in senior debt, partially guaranteed by Assured Guarantee, a US credit insurance company. The Netherlands' FMO and France's PROPARCO will lend up to $14.3m in mezzanine debt. T-Solar will fund the balance through equity. T-Solar was advised by Astris Finance, a US-based transaction advisory firm specialized in infrastructure and energy in emerging markets. Latin America is an important target market for T-Solar. Given the region's high level of solar irraditaion and in the context of an increasing focus on energy transition and renewable energy, T-Solar expects the continent's strongest economies to provide interesting oportunities in the photovoltaic sector in the next 5 years. ⁽¹⁾Source: International Energy Agency Estimate ABOUT T-SOLAR T-Solar is a major independent producer of photovoltaic solar energy world-wide. A subsidiary of the Isolux Corsan Group, it has 173 MWp installed capacity already online in 43 plants located in Spain (34), Italy (8) and India (1), plus a further 55 MW under construction in India and Peru. Its solar photovoltaic plants generate over 250 GWh a year. This is equivalent to the average electricity consumption of a town with 51,000 households. T-Solar earned revenues of €110.2m in 2010. The company's 2010 business plan had a total capex of €1.16 bn. Its factory in Orense (Galicia, Spain) produces the largest PV modules in the market (5.7m2) using amorphous hydrogenated silicon thin-film technology to reduce costs and boost performance ratios. The factory is fully automated and fitted out with leading-edge technology. It has an output capacity of 50 MW a year, equivalent to 700,000 m²of solar panels. For further information, visit the website: http://www.tsolar.com

Melvin Wylie

Saving the Atlantic Forest With Marc by Marc Jacobs Sunglasses

Marc by Marc Jacobs chic, vintage inspired eyewear, derived from a company well known for a commitment to charitable projects is supporting The Nature Conservancy, the leading conservation organization working around the world to protect ecologically important lands and waters, through a newly created "PLANT A SEED - GROW YOUR TREE AND SAVE THE FOREST" program. The program is aimed at promoting and supporting The Nature Conservancy's "PLANT A BILLION TREES" campaign, through an important awareness-raising activity for the preservation of our planet's natural resources. The campaign's mission is to protect and restore the Atlantic Forest in Brazil, one of the world's most endangered tropical forests. To date only 12% of its original area remains and only 7% is well conserved. At the centre of this worthwhile project are Marc by Marc Jacobs MMJ 261/s bio-based sunglasses, made from a material derived from castor-oil seeds. The chocolate coloured sunglasses, which feature leaf textured temples, are packaged in a chic case made from repurposed leather. In support of this project, Marc by Marc Jacobs will make a contribution to The Nature Conservancy to support the restoration of the Atlantic Forest. A dedicated website for the project http://www.plantaseedproject.com provides full details about the campaign as well as enables site visitors the opportunity to plant a virtual tree and make it grow. A Facebook application will allow visitors to invite their friends and involve them in the project: a tangible and lasting involvement in an important environmental cause. Marc by Marc Jacobs eyewear and sunglasses collections are manufactured and distributed by Safilo Group. The Nature Conservancy: The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. The Conservancy and its more than 1 million members have protected nearly 120 million acres worldwide. Visit The Nature Conservancy on the Web at http://www.nature.org. The "Plant a Billion Trees" project: The Nature Conservancy launched the Plant a Billion Trees campaign in April 2008 with a goal to restore and plant one billion trees in Brazil's Atlantic Forest. Once twice the size of Texas, the Atlantic Forest spanned across eastern Brazil, northern Argentina and eastern Paraguay. Yet today, more than 93 percent of the forest has been cleared to accommodate Brazil's rapid development and support the region's 130 million residents, 70 percent of Brazil's population. Although the remaining 7 percent is highly fragmented, these last stands of lush forest harbor one of the greatest repositories of biodiversity on Earth. http://www.plantabillion.org.

Melvin Wylie

President of South Sudan Commits to Global Transparency Standard

President Salva Kiir of South Sudan has announced that his Government will implement the EITI (Extractive Industry Transparency Initiative), the global standard for transparency of natural resource revenues. "This commitment to implement the EITI is in furtherance of my statement on September 21st that my government is committed to ensuring that South Sudan enters a new era of good governance, democracy, accountability and transparency," said President Kiir. Remarking on President Kiir's announcement, EITI Chair Clare Short said, "South Sudan is facing enormous challenges in the years ahead. By following the EITI standard, President Kiir's and his government have demonstrated its commitment to doing things transparently and holding themselves accountable to South Sudan's citizens. " Implementing the EITI standard ensures that all payments from oil and mining operations in South Sudan will be published in an annual EITI report for all South Sudanese citizens to see what they are receiving from their natural resources. The report can be used to recommend how South Sudan can better manage the revenues from its resources. The process will be overseen by a 'South Sudan EITI multi-stakeholder group' consisting of representatives from the government, extractives companies and civil society organisations.

Melvin Wylie

Ethical Oil? Alberta's Tar Sands

  Alberta's Tar Sands are a true embarrassment for the Canadians; not only is it a human rights crisis for the Indigenous communities living in Alberta and British Columbia, but an environmental disaster of epic proportions. Many pipelines transport this dirty oil all around North America, and our exports make us the United States' biggest provider of oil. In the last few years, a new extension to a current pipeline has been proposed to carry Tar Sands oil all the way to Texas, putting some of North America's most fragile ecosystems and waterways in serious peril. Bill McKibben and his team at 350.org helped spearhead a movement called Tar Sands Action (http://www.tarsandsaction.org), enlisting the help of people all over the US and Canada willing to express their dismay and anger about this possible new pipeline. As of November 6th, thousands of people have risked arrest, standing in front of the White House, as well as Canada's Parliament in Ottawa, to protest.

Melvin Wylie

The Secret Lives of Our Clothes

There's a price tag that's being hidden from us everyday. Not the one that tells us how much money to pay but the underlying costs of every outfit's life cycle. Uncover the lives that our clothes led before they got to the store and discover your voting power as a consumer towards a fairer, healthier and more sustainable planet. Thanks to GreenovateChina for this wonderful video.

Melvin Wylie

Ford Targets 30 Percent Water Reduction Per Vehicle

New aggressive water strategy calls for global reduction target of 30 percent per vehicle by 2015 Between 2000 and 2010, Ford reduced its global water use by 62 percent, or 10.5 billion gallons; 71 percent in North America On a per-vehicle basis, global water use decreased by 49 percent between 2000 and 2010; 45 percent in North America   Ford enters 2012 with plans to further reduce the amount of water used to make vehicles and continue showing efficiency is not only inherent in its vehicle lineup, but also in its manufacturing practices. A new goal calls for Ford to cut the amount of water used to make each vehicle 30 percent globally by 2015, compared with the amount of water used per vehicle in 2009. Ford is also developing year-over-year efficiency targets as part of its annual environmental business planning process and has established a cross-functional team spanning several divisions to review water usage more holistically. "Water remains one of our top environmental priorities and our aggressive reduction target helps ensure continued focus on this critical resource," said Sue Cischke, group vice president, Sustainability, Environment and Safety Engineering. Ford's latest water reduction initiatives are designed to build on the success the company has had with its Global Water Management Initiative that launched in 2000. Between 2000 and 2010, Ford reduced its global water use by 62 percent, or 10.5 billion gallons. That's the equivalent of how much water 105,000 average American residences use annually, based on figures from the U.S. Environmental Protection Agency. If Ford meets its goal of reducing the amount of water used by 30 percent between 2009 and 2015, the amount of water used to make a vehicle will have dropped from 9.5 cubic meters in 2000 to approximately 3.5 cubic meters in 2015. One cubic meter is equal to 264.2 gallons of water.   Leading by example When it comes to water, drought and extensive population growth are just two of many challenges in places such as Mexico's Sonoran Desert, home to Ford's Hermosillo Stamping and Assembly Plant. The plant produces the Ford Fusion, Fusion Hybrid and Lincoln MKZ. Production at Hermosillo Stamping and Assembly Plant doubled between 2000 and 2010. However, water usage at the plant dropped during the same period by 40 percent. "We applied innovative technology to our Hermosillo plant to reduce water consumption, minimize impact on the community and build vehicles in a more sustainable manner," said Larry Merritt, manager, Environmental Quality Office. To reduce water use, a membrane biological reactor – a biological water treatment system – was installed. The complex system is able to make up to 65 percent of the plant's wastewater suitable for high-quality reuse elsewhere in the facility or for irrigation. The water treatment system also is being used at Ford plants in Chennai, India and Chongqing, China. More technology, less water Another approach is to cut the amount of water necessary to complete a task – a strategy afforded by the use of advanced technologies and processes. "As we invest in new and existing facilities globally, our water strategy prioritizes sustainable manufacturing technologies," said John Fleming, executive vice president, Global Manufacturing and Labor Affairs. "This disciplined approach allows us to make significant progress in water reduction and other environmental efforts over time." For example, several of Ford's engine plants around the world are using Minimum Quantity Lubrication (MQL) machining, also known as dry-machining. This technology lubricates the cutting tool with a very small amount of oil sprayed directly on the tip in a finely atomized mist, instead of with a large quantity of coolant/water mixture. The process saves hundreds of thousands of gallons of water and oil per year. By eliminating the coolant/water mixture, dry-machining eliminates the need to treat and dispose of an oily waste stream. Dry-machining also is delivering significant benefits in energy use, waste production, quality, working conditions and costs. For a typical 450,000-unit line, more than 280,000 gallons of water can be saved annually. In the U.S., the dry-machining system has been implemented at Ford's Livonia Transmission Plant, Van Dyke Transmission Plant and Romeo Engine Plant. Ford also has implemented the system at a number of transmission and engine plants in Europe and applications in other plants around the world currently are being considered.   Tracking success Before Ford launched the Global Water Management Initiative in 2000, many facilities had little ability to even track water usage. The picture is very different today. When the initiative started, Ford engineers developed software to predict water usage. Another kind of software was developed to track water use at each facility and generate a monthly report so successes and potential opportunities for improvement could be identified. Also, water reduction actions are built into Ford's Environmental Operating System (EOS), which provides a standardized, streamlined approach to meeting all environmental requirements, including sustainability objectives and targets within each of Ford's plants around the world. EOS allows Ford to track its plants' performance of fundamental water reduction actions such as leak identification and repair, and cooling tower optimization at every manufacturing site worldwide. Further, Ford's progress against its water reduction target will be communicated in the company's annual sustainability report and through participation in the Carbon Disclosure Project (CDP) Water Disclosure, which Ford joined in 2010 – the first automaker to do so. CDP Water Disclosure serves as a central clearinghouse for Ford and other participating companies to report on water usage, water risks and water management plans of company operations and their supply chains. "We recognize that these environmental issues are increasingly important to our stakeholders, including our customers, investors and business partners," said Merritt. "Water conservation is integral to Ford's global sustainability strategy. By reporting our progress, we support positive social change and reduce the environmental impact of our facilities."

Melvin Wylie

Cameron Announces Agreement with BP

Cameron (NYSE: CAM) today announced an agreement with BP whereby BP will indemnify Cameron for current and future compensatory claims against Cameron associated with the Deepwater Horizon incident. Under the terms of agreement, Cameron agrees to pay $250 million to BP, and both parties have agreed to mutually release claims against each other. In addition, BP will fully indemnify Cameron for damage claims arising under the Oil Pollution Act, claims for natural resource damages and associated damage-assessment costs, and other claims arising from third parties. "This agreement with BP is the right action, as it removes uncertainty facing Cameron in the litigation associated with the Deepwater Horizon event," Cameron Chairman and CEO Jack Moore said. "This eliminates all significant exposure to historical and future claims related to this incident. Though this agreement does not provide indemnification against fines and penalties, punitive damages or certain other potential non-compensatory claims, we do not consider these items to represent a significant risk to Cameron." The Company's insurers are expected to fund not less than $170 million of this agreement. The Company expects to take a charge in the fourth quarter for any amounts not covered by insurance. Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Terms such as "will," "will be," and "are scheduled" and the like are intended to identify forward-looking statements. The forward-looking statements in this press release are based on our current expectations and are made only as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect new information. We cannot assure you the projected outcomes will be achieved. Because forward-looking statements involve risks and uncertainties, they are subject to change at any time. Such risks and uncertainties, many of which are beyond our control, include, but are not limited to the amount of the agreement the Company's insurers are expected to fund, the performance of contractual obligations by our counterparty and the outcome of the litigation associated with the Deepwater Horizon incident and, in particular, the likelihood of fines, penalties, punitive damages or certain other potential non-compensatory claims being asserted against Cameron, for which indemnification is not being provided. Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance. Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

Melvin Wylie