Germany

GM news of the day: SolarWorld, the Germany-based maker of solar photovoltaic systems, has unveiled plans to take over the German factories of the Detroit automaker's troubled Opel unit. The goal: to convert the cash-starved Opel into "Europe's first green automobile maker," focusing on creating the next generation of fuel-efficient, low-emissions vehicles.

The announcement has "stunned investors in Germany," said CNN.

As rumored, New York-based private equity giant Blackstone Group is pouring $1.5 billion into an offshore wind farm in Germany that will power half a million homes and avert 1.6 million tons of CO2 emissions.

It’s being billed as one of the largest wind projects in the North Sea and should spawn a heap of German "green collar" jobs. Says the Blackstone Group:

It is planned to source all technical expertise and substantially all materials from within Germany.

Why would Blackstone choose Germany for its mammoth project? In the company's own words:

Give hot rocks a chance. That's all the geothermal experts have been saying.

And now, it seems, more and more nations are paying attention.

Take Australia.

By the end of '08, it will shut down the diesel-fueled generators in the southern town of Innaminck (population 12).

And in their place will come the nation's very first geothermal power plant.