Google to Invest $145 Million in Solar Project; Neodymium Down 1.3%

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Google Inc is continuing its green efforts and has decided to “provide $145 million in fundings for an 82-megawatt SunEdison Inc. solar power plant in southern California, the latest renewable energy investment from the technology company,” reports Bloomberg.

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The Regulus project “will be the 17th renewable energy project funded by Google, which has agreed to invest more than $1.5 billion in renewable energy with a combined capacity of more than 2.5 gigawatts….The project will sell power to Edison International utility Southern California Edison under a 20-year contract.”

Neodymium finished as the week’s biggest mover on the weekly Renewables MMI® after dropping 1.3 percent and landing at CNY 385,000 ($62,690) per metric ton. Following a steady week, prices for Chinese cobalt cathodes closed flat at CNY 231,000 ($37,614) per metric ton. Closing at CNY 13,900 ($2,263) per metric ton, silicon remained unchanged for the week. Prices for Chinese steel plate remained constant, closing the week at CNY 3,590 ($584.56) per metric ton.

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At JPY 76,000 ($715.93) per metric ton, the price of Japanese steel plate did not change since the previous week. Korean steel plate remained essentially flat from the previous week at KRW 900,000 ($878.51) per metric ton. Chinese steel plate traded sideways last week, hovering around CNY 3,590 ($584.56) per metric ton. At $881.00 per short ton, the week finished with no movement for US steel plate.

US grain-oriented electrical steel (GOES) saw little price change on Tuesday at $2,691 per metric ton.

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