Two buildings and a parking lot belonging to Oceanic Time Warner Cable are due to generate solar power for the company.

Chevron Energy Solutions, a unit of Chevron Corp., built solar panels on the buildings and on canopies that shade cars in a parking lot at Mililani Tech Park.

Tioga Energy, which helped finance the project, is due to own and operate the panels for 20 years. Tioga is expected to sell the electricity generated to Oceanic Time Warner Cable at rates less than those charged by the Hawaiian Electric.

The companies are due to hold an event with community members on Wednesday to celebrate the completion of the project.

New Plant To Be Located 40 Miles West Of Phoenix

SAN DIEGO — Construction will begin in June of the first phase of what will eventually become a huge solar power plant in the Arizona desert, a subsidiary of San Diego-based Sempra Energy announced Thursday.

The Mesquite Solar facility, located about 40 miles west of Phoenix, is expected to produce 700 megawatts of power when it is complete.

 The first phase of construction is scheduled to come online in two years, creating enough power for 56,000 homes, according to Sempra Generation.

The announcement came on the heels of the state Public Utilities Commission’s approval of a 20-year contract for Pacific Gas & Electric to buy some of the electricity.

 The value of the contract was not disclosed.

Electricity rates to Newfoundland Power and most electricity consumers are expected to increase due to rising oil prices, according to a news release today by Newfoundland and Labrador Hydro (Hydro), a Nalcor Energy company.

Hydro said it has filed an updated fuel price projection for the Rate Stabilization Plan (RSP) with the Newfoundland and Labrador Board of Commissioners of Public Utilities (PUB), which will result in a rate increase.

“The price of oil has increased and therefore electricity rates are increasing as well,” said Jim Haynes, Hydro’s vice-president of regulated operations.

“The fuel price projection used for setting electricity rates has climbed from $84 per barrel to $103 per barrel — almost $20 more per barrel over the last 12 months — and electricity rates will rise by approximately seven per cent effective July 1, 2011. The cost of oil is a direct pass through to consumers and neither utility receives any profits or benefits financially from changes in oil prices.”

The release states that Hydro produces a portion of its electricity annually from the Holyrood Thermal Generating Station which uses oil to generate electricity for consumers. To protect electricity consumers from fluctuating oil prices and consumption during the year, rates are adjusted (increased or decreased) annually on July 1 according to fuel price projections and electricity production requirements at the Holyrood plant for the coming year, as well as the RSP balance from the previous 12-month period.

Oil rebounded Wednesday from a two-day drop as the dollar fell and the petroleum industry reported a hefty draw in U.S. gasoline supplies last week.

Benchmark crude for May delivery rose 32 cents to $106.57 per barrel on the New York Mercantile Exchange. The contract fell 6 percent on Monday and Tuesday.

The American Petroleum Institute said gasoline supplies dropped last week by 4.6 million barrels — more than three times what analysts had expected. A decline in gasoline supplies could boost demand for crude oil, which is refined to make gasoline.

The government is expected to release its weekly report on oil and gasoline supplies on Wednesday.

Meanwhile, gasoline pump prices continued to rise. The national average added nearly 2 cents on Wednesday, to hit $3.808 per gallon, according to AAA, Wright Express and Oil Price Information Service. A gallon of regular costs 25 cents more than a month ago and is 95 cents higher than last year.

In other Nymex trading for May contracts, heating oil added a penny at $3.1808 per gallon and gasoline futures gained 3 cents at $3.1922 a gallon. Natural gas futures added 7.5 cents to $4.171 per 1,000 cubic feet.

In London, Brent crude rose 82 cents to $121.25 per barrel on the ICE Futures exchange.

Clean technology investments top $1 billion, according to the latest MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association.

The Clean Technology sector, which crosses traditional MoneyTree industries and comprises alternative energy, pollution and recycling, power supplies and conservation, saw a 26 percent increase in dollars over the fourth quarter to $1 billion.

The report attributes the increase being driven by several large rounds, including five of the top 10 deals.

Last year’s report showed an 87 percent increase to clean tech. This quarter also marks the fourth time in history that Clean Technology investing exceeded one billion dollars.

With gasoline costs on the rise and the emphasis from governments to create alternative energy solutions, it’s no wonder that the clean tech sector has a boost in investment.