U.S. Gasoline prices slump

A survey of 5,000 gasoline filling stations across the United States by Trilby Lundberg found the average price of gasoline fell to $2.5573 a gallon, down from a record high of $4.1124 on July last year as crude oil prices declined given weak demand.

Suntech in deal for 3 solar power plants in China

Chinese Suntech Power Holdings Co. Ltd said today it reached agreements to develop four solar power facilities in China with a total generation capacity of 1.8 Gigawatts. The company said permits from the National Development and Reform Commission are needed to continue as well as financing and investing.

Massive solar project Desertec for North Africa outlined

A consortium of 12 companies including Siemens AG, RWE AG and E.ON AG, Munich Re AG, Deutsche Bank G outlined a massive solar project in North Africa called Desertec which aims to provide 15 percent of the energy needed in Europe by 2050. The project is estimated to cost about $559 billion, according to the German Aerospace Center, the Associated Press reported.

China Energy