On 14 and 15 September this year, prominent experts, policy makers and visionaries from around the world are set to assemble and discuss subjects including electric mobility, the future of biofuels and energy efficiency in land and sea transport, along with the latest trends in urban planning, energy infrastructure and policy. Read the full story

Two of the world’s largest auto manufacturers, Mitsubishi Motors and Toyota from Japan, along with China’s BYD Auto, will showcase their newest green car innovations this September at the annual Driving Sustainability international conference of industry experts being held for the third time in Reykjavik, Iceland. Read the full story

Denmark’s parliament recently approved plans to build the nation’s largest offshore wind farm, which will be located in the North Sea’s Kattegat Strait between Jutland and Anholt Island. The wind farm is expected to be operational by 2012, and will be able to produce 400 megawatts of power. The Climate and Energy Ministry claims this amount of energy will provide the electricity needs for 400,000 homes a year.

Between 100 and 175 wind turbines will stand in the Kattegat Strait. Denmark currently has 5,267 wind turbines, 70 percent of which are situated in Jutland, according to statistics from the Wind Industry Association. In 2006, Denmark’s offshore wind farms provided 22 percent of the nation’s total wind energy production.

Jakob Lau Holst, the director of the Danish Wind Industry Association (DWIA), said the new offshore wind farm will further the country’s aim of reaching the European Commission’s goal to produce Read the full story

Solel Solar Systems’ new USD 9 million solar reflector production factory has opened in Akaa, a town 200km north of Helsinki. The latest alternative energy manufacturing centre in Finland will produce parabolic solar reflectors to be used in Solel’s own solar thermal projects around the globe.

Solel built the new factory to “give it almost complete control over the cost, quality and capacity of its solar power Read the full story

Nordic bank Glitnir was recently shortlisted for the 2008 FT (Financial Times) Sustainable Banking Awards, the leading global awards for sustainability in finance.

The corporate and investment bank was nominated for the ‘Sustainable Deal of the Year’ award for a second year in a row.

The ‘deal’ refers to a $15 million ‘Resource Verification Loan’ that Glitnir provided for the Hudson Ranch project, a 49.9 MW geothermal generating facility currently being developed in the Salton Sea geothermal field in California.

Magnus Bjarnason, Executive Vice President of International Banking at Glitnir Bank, said, “Glitnir Bank was among the first financial institutions to offer this sort of financial products in the USA. Last year we provided Nevada Geothermal with a similar loan.”

The awards, which are now in their third year, are in recognition of banks and other financial institutions that have “shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.”

Glitnir bank has been a leading player in providing finance to the geothermal energy industry in the United States, which is the biggest market in the world for geothermal energy. The bank has sustainable energy teams in both Iceland and at a new office in New York City.

“The US Geothermal market is very interesting for us as we foresee considerable developments in the energy market, especially regarding alternative energy resources. Glitnir’s position in the US geothermal industry is strong and the outlook is very good,” continued Mr Bjarnason.

The sustainable energy sector has been booming due to record-high oil prices and a demand for action on climate change. Glitnir’s niche business sectors, which include sustainable energy and the seafood industry, are rapidly growing and currently represent 13% of the bank’s loan book and 43% of its corporate advisory in 2007.

Visit Glitnir’s corporate website for more information on the geothermal energy sector.