|
8 March 2007 -- Distributed Energy Systems Corp. announced it has entered into a joint venture with Morgan Stanley to develop and finance power generation projects.
Distributed Energy said the agreement will support and accelerate development of renewable and efficiency-enhancing projects in the United States. The companies said projects may include waste-to-energy, combined-heat-and-power, wind, solar, bio-digestion, fuel cell and other renewable technologies. The joint venture will offer full project life cycle services including development, financing, engineering, procurement, construction, commissioning, operations and services.
Under the terms of the Agreement signed today, Morgan Stanley and Distributed Energy will collaborate to develop and own alternative and efficiency-enhancing energy projects.
Morgan Stanley expects to contribute the majority of the capital to meet project financing requirements, with Distributed Energy providing the balance. Morgan Stanley will receive warrants to purchase up to 10 percent of Distributed Energy's common shares. The majority of those warrants vest immediately, with the remainder vesting when the combined investment by the two companies reaches $100 million.
|
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
