The first step will be rejoining the Paris Climate Agreement, as Biden has promised to do on his first day in office. But given the damage done over the past four years, the Biden administration will also meet some skepticism about the country’s ability to deliver ambitious climate action.
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Goldwind Americas has sold its 160-MW Rattlesnake wind farm in Texas to an investment company advised by Exus Management Partners for an undisclosed amount. Located in Texas’ McCulloch County, the Rattlesnake wind park comprises 64 Goldwind GW GW109/2500 permanent magnet direct-drive (PMDD) turbines.
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NREL recently published its quarterly solar industry update providing insights into the key trends of 2020, top performing solar power states in the US, tariff updates worldwide, policy and regulatory scenario, technology development, key financings, and future outlook.
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In recent years, clean wind power has grown to the point where it provides 25 percent of the available generating capacity in SPP. Wind is often the cheapest power on the system, so it’s dispatched first. That’s because its fuel—wind—costs nothing, and fuel costs are the biggest component of the energy price.
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North Carolina’s location is favourable to serve all markets along the East Coast, for both immediate and future demand. In addition, the presence of more than 30 manufacturing facilities in North Carolina and Virginia that provide components for the wind energy industry further favours the development of offshore wind. At present, North Carolina is home to three wind energy areas (WEAs) designated by the BOEM, of which Kitty Hawk WEA has been leased and is being developed by Avangrid Renewables.
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The three states have agreed to form a SMART-POWER leadership team with representatives from each signatory’s jurisdiction that will work to streamline the development of regional offshore wind resources.
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The US is moving fast to be a key part of the expanding global offshore wind industry. Bolstered by state policies, the US has the potential to become the third largest market in the world with over 25 GW of offshore wind capacity by 2035. This massive opportunity is not without challenges.
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To support New York’s position as the hub for the offshore wind industry, NYSERDA, with the assistance of NY Green Bank, Empire State Development and the New York State Department of Transportation, will support this combined solicitation by investing in and upgrading the state’s port infrastructure. The USD400 million in private and public funding is comprised of USD100 million in Empire State Development grant funding, USD100 million in low-interest financing and USD200 million in private sector matching funds.
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The proposal includes 498 MW of solar capacity, spread across nine projects statewide. Of these nine projects, six, totaling 416 MW, would provide the utility with power via power purchase agreements (PPA), while the remaining three projects are set to be owned and operated by Dominion.
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Organic Flower Investments Group Inc. (Organic Flower) has acquired a 90 per cent equity interest in California-based PowerTap Hydrogen Fueling Corp. (PowerTap).
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Macquarie Infrastructure and Real Assets (MIRA) has decided to acquire a portfolio of Romanian power assets from energy conglomerate, CEZ Group. The portfolio comprises a renewable energy platform with 622 MW of primarily onshore wind farms, as well as an 86,665 kms of regulated electricity distribution network and an electricity and gas supply business with 1.4 million residential and industrial connections in the South West of Romania.
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Reinforcing feedback suggests that change is coming quickly, and other countries have a starting advantage on the US market. US doesn’t have to be at a disadvantage if it seizes the moment. It has one of the largest vehicle markets in the world, a lucrative prize by any means. The US market must move fast enough to remain competitive and to address the climate crisis.
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Massachusetts enacted a law in 2016 for the state to procure 1,600 MW of offshore wind by 2027. This move led to the beginning of competitive requests for proposals (RFPs) for long-term offshore wind energy contracts. Vineyard Wind won the 800 MW project under the first RFP organised in 2017/18. The second RFP, organised in 2019/20, also for for an 800 MW project, was won by Mayflower Wind.
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Virginia’s 12 MW Coastal Virginia Offshore Wind project, located about 27 miles off the coast of Virginia Beach, was announced in 2017. Recently, in June 2020, the project reached a major milestone with the installation of turbines in the federal waters. It is expected to be commissioned by the end of 2020.
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The strategic focus of Xcel Energy is on investing in cleaner power generation and transmission assets as well as in natural gas infrastructure. As a first step in this regard, in early 2018, it announced plans to reduce carbon emissions by 60 per cent (from 2005 levels), increase the share of renewable energy (RE) in its fleet to 55 per cent, and shut down 50 per cent of its coal capacity in the state of Colorado by 2030.
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Entergy has announced plans to begin exploring the use of hydrogen in its generation portfolio, as part of a commitment to reach net zero emissions by 2050. Going forward, such projects can kick-start the market for green hydrogen made from renewable-powered electrolysis by driving demand at scale quickly.
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While recent years have seen an uptick in transmission investments, the American Society of Civil Engineers estimates an investment gap of $35.4 billion between now and 2039. If we do nothing, consumers will continue paying for an electric grid that is balkanized, antiquated, inefficient, and increasingly unreliable.
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China is highly dependent on fossil fuel imports. At the same time, China is striving to lead in new energy technologies, particularly wind and solar electricity generation and electric vehicles. It is more in charge of its own fate in electricity, while it remains highly vulnerable to market conditions and supply shocks in oil and gas. Slowly, it has become the center of gravity for global energy markets.
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There are predominantly three business models in California: one for each Front-of-the-Meter, Behind-the-Meter, and Aggregated Behind-the-meter.
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Coal-fired power generation in Texas, pummelled by clean, no-fuel-cost wind over the past 10 years, is about to be hit by a second wave of competition from renewables as utility-scale solar power stands to gain significant market share over the next few years.
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