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Westinghouse files for Chapter 11 protection in US and secures $800M in DIP financing to fund operations

Green Car Congress

Westinghouse has obtained $800 million in debtor-in-possession (DIP) financing from a third-party lender to help fund and protect its core businesses during its reorganization. The Chapter 11 filings took place in the US Bankruptcy Court for the Southern District of New York in New York City.

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Amtrak invests $2.4B for next-gen Alstom Avelia high-speed trainsets and infrastructure upgrades

Green Car Congress

The contract is part of $2.45 billion that will be invested on the heavily traveled Northeast Corridor (NEC) as part of a multifaceted modernization program to renew and expand the Acela Express service. The first prototype of the new trainsets will be ready in 2019, with the first trainset entering revenue service in 2021.

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These canceled New York offshore wind farms totaling 1.7 GW just officially made a comeback

Baua Electric

Governor Kathy Hochul today (D-NY) announced that New York State conditionally awarded the 810 megawatt (MW) Empire Wind 1 and the 924 MW Sunrise Wind from its fourth offshore wind solicitation. Empire Wind 1 and Sunrise Wind will invest $2 billion in economic development across New York and create 800 near-term construction jobs.

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Panda Power Funds jointly to develop 1,000 MW coal to natural gas conversion project; Marcellus Shale gas

Green Car Congress

Panda Power Funds has entered into a joint venture with Sunbury Generation LP to develop, finance, construct and operate a 1,000 megawatt natural gas-fueled, combined-cycle power project near Shamokin Dam in Snyder County, Pennsylvania. Construction will take approximately 30 months and will commence upon financing and other conditions.

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Cisco DeVries’ AB 811 Baby Goes Nationwide: President Clinton Backs USA PACE Bond Program

Creative Greenius

Sept 24, 2009, New York City ( Sourced from prnewswire ) - The Clinton Global Initiative announced this afternoon a breakthrough for the long overdue clean energy retrofitting of America’s homes, commercial and apartment buildings. PACE stands for Property Assessed Clean Energy. Big props to each of them as well!

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Ford forms new Smart Mobility subsidiary to develop and to invest in mobility services

Green Car Congress

Jim Hackett, former Steelcase vice chairman and CEO, is leaving his position on the Ford Board of Directors to serve as chairman of the new subsidiary. Ford Smart Mobility LLC is part of Ford’s expanded business model to be both an auto and a mobility company. The first hub opens later this year in New York City.

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The Real Story of Pixar

Cars That Think

GM saw our technology as a way to replace their expensive clay-modeling technique for new-car designs. Philips, partnering with GM to share the financing load, was interested in our rendering technology that yielded three-dimensional internal views of human beings from CAT scans. Ross Perot. Pixar Image Computer.

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