Energy Roundup: Conduit Wins Peru Gas Concession, Solyndra Gets $600 Million, Drop in Solar Prices, and More

(MoneyWatch)  Conduit Capital wins $1.4 billion concession to build 700 mile Peruvian gas pipeline -- The private equity investment firm, Conduit Capital Partners has announced that subsidiary, Kuntur Transportadora de Gas, was awarded a 30-year concession contract by the Peruvian Government to build a 700 mile pipeline to carry natural gas from the Camisea fields to the port of Ilo in Southern Peru. Development costs for the pipeline are estimated to be around $1.4 billion. [Source: Business Wire via Digital50]

Solyndra wins $600 million in funding for its tubular thin-film solar tech -- Six-hundred million's not bad for a day's work. That's how much Solyndra a tubular, thin-film solar startup, has won in its latest round of funding from Redpoint Ventures, RockPort Capital, Argonaut, CMEA Ventures and U.S. Venture Partners. The startup's backers also include the Walton family fund, Madrone Capital, Abu Dubai's MASDAR and Richard Branson's Virgin Green Fund. Why all the love ($600 million-worth)? Solyndra has a unique thin-film design that can cut the cost of rooftop solar in half. Solyndra takes photovoltaic copper indium gallium selenide (CIGS) compound and wraps it around a series of tubes which better capture sunlight. [Source: Earth2Tech]

Suntech forms solar farm venture but may be expecting a drop in overall solar panel sales -- Suntech, a solar panel firm based in China is acquiring solar installer, EI Solutions, and will be forming a joint venture with MMA Renewable Ventures to develop large-scale solar farms. Suntech hopes to triple sales in the U.S by 2009. Clean energy bloggers over at Earth2Tech, however, believe the Suntech move is designed to cushion the company from an expected drop in profits from solar panel sales, and say that Lux Research predicts the price of solar panels will decrease as supply outstrips demand. [Source: StrategyEye Cleantech]

PetroSun gets $40 million from Shanghai Jun Ya Yan Technology Development for algae venture -- Shanghai Jun Ya Yan Technology Development is providing $40 million to fund a joint venture with U.S. firm PetroSun to begin commercial-scale algae biofuel production in China. The firms will take an equal share of profits from the venture. [Source: StrategyEye Cleantech]