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The U.S. Department of Energy’s Water Power Technologies Office (WPTO) announced eight winners of Phase One of the Hydropower Operations Optimization (H2Os) Prize. These teams are developing cutting-edge solutions for more innovative hydropower operational schemes with the potential to advance hydropower’s contributions to the United States’ goal of..
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The post On Heels of $ 2.3B Financial Close, Vineyard Wind Joint Venture Partners Announce Restructuring appeared first on POWER Magazine.
Partners developing the 800-MW Vineyard Wind 1 offshore wind farm have announced they will swap assets jointly owned by their 50/50 Vineyard Wind joint venture to allow each party to focus on its separate expansion within the burgeoning U.S. offshore wind industry once the 800-MW Vineyard Wind 1 offshore wind farm is operational.
The Vineyard Wind joint venture is equally held by Connecticut-based AVANGRID subsidiary Avangrid Renewables—a company whose majority (81.5%) shareholder is Spanish renewables giant Iberdrola—and Danish fund management company Copenhagen Infrastructure Partners (CIP). Restructuring will enable both companies “to leverage their strengths and expertise to continue to grow the U.S. offshore wind industry” and “better align project timelines with their separate strategic objectives,” the partners said on Sept. 21.
The development is noteworthy given that the partners recently raised $ 2.3 billion of senior debt to finance the construction of the Vineyard Wind 1 project.…
The post Groups Announce Successful Test to Advance Fusion Energy appeared first on POWER Magazine.
A company working to bring fusion energy technology to market joined with a group from the Massachusetts Institute of Technology (MIT) in announcing a successful test of what they call the world’s strongest high-temperature superconducting (HTS) magnet, technology considered key for development of commercial fusion energy.
Representatives of Commonwealth Fusion Systems (CFS), along with researchers from MIT’s Plasma Science and Fusion Center (PSFC), on Sept. 8 outlined the group’s progress in developing the HTS, what they called a “world changing” technology to produce power while also combating climate change.
The milestone test, conducted at the PSFC on Sept. 5, proved that the magnet built at scale can reach a sustained magnetic field of more than 20 tesla. That’s enough to enable CFS’s small tokamak device, called SPARC, to achieve net energy from fusion, what the groups called “a historic first.” They said the successful demonstration proves that the SPARC will be the world’s first fusion device that can create and confine a plasma that produces more energy than it consumes.…
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Ohio lawmakers on April 12 announced a plan to provide financial support to the state’s two nuclear power plants by adding a surcharge to customers’ electric bills. The bill’s supporters said it also would generate as much as $ 300 million annually for clean power generation in Ohio, though the measure calls for abolishing mandates for renewable energy.
House Speaker Larry Householder (R), leader of the state’s Republican-controlled House that is backing the bill, said the proposal—called the Ohio Clean Air Program (OCAP) —would do more than save the nuclear plants. About half the money raised by the surcharge would go to Davis-Besse nuclear plant near Toledo and the Perry plant near Cleveland.
The nuclear plants are scheduled to close by 2021 unless operator FirstEnergy Solutions (FES) can find a buyer for the plants or financial relief to keep them open. FES sought bankruptcy protection in March 2018, just after the company notified regional transmission organization (RTO) PJM Interconnection that it would close four uneconomic nuclear units—a total of 4 GW, including the two Ohio plants—in the RTO’s footprint.…