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Reducing low-carbon hydrogen investment and operating costs A prerequisite for mass adoption While several levers have already been used to reduce the cost of investing in and using low-carbon hydrogen, many can still be mobilized by players throughout their value chains (equipment developers and producers in particular). These levers include: Digital, financial engineering..
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The post TECO Announces $ 800-Million Investment in New Solar appeared first on POWER Magazine.
Tampa Electric Co. (TECO) on Feb. 19 said it plans to invest about $ 800 million to add another 600 MW of solar power generation capacity by year-end 2023. TECO on Wednesday said the expansion will increase its solar portfolio to more than 1.25 GW of solar generation, or about 14% of its total generation mix.
“Our customers want a cleaner energy future for themselves, and their children,” said Nancy Tower, TECO’s president and CEO, in a statement. “We are committed to continue to lead Tampa Electric toward cleaner energy while ensuring our prices remain affordable for customers.”
TECO, like many U.S. utilities, is increasing its use of renewable resources as it phases out coal-fired generation. The company, which serves customers in west-central Florida, said it has cut its coal use by 92% since 2000. About 84% of its electricity comes from natural gas.…
Investments in renewable energy projects slowed in the first half of 2019, primarily due to a 39% year-over-year drop in China, the world’s largest renewables market, according to data published July 10 by BloombergNEF (BNEF).
BNEF said investments in China dropped to $ 28.8 billion, the lowest figure for any six-month period since 2013. China is moving away from government-set tariffs for solar and wind capacity and instead moving to auctions for renewable power. BNEF said global investment in renewables was $ 117.6 billion in the first half of this year, off 14% compared to the January-June 2018 period.
Justin Wu, head of Asia-Pacific for BNEF, in a news release said: “The slowdown in investment in China is real, but the figures for first-half 2019 probably overstate its severity. We expect a nationwide solar auction happening now to lead to a rush of new PV project financings. We could also see several big deals in offshore wind in the second half.”…
Weak earnings associated with General Electric’s (GE’s) underperforming $ 10.1 billion investment in Alstom have prompted the giant conglomerate to rejigger its power business and lean more heavily on other segments.
GE Power, the company’s long-standing and lucrative business unit that has installed 1.6 GW of the world’s installed capacity over its 125-year history, has also suffered costly operational misses owing to softer markets for new capacity and an energy transition unfolding worldwide, company executives said in a November 13 investor call.
While the GE Power franchise remained “good,” even in the face of a “tough market,” GE had “exacerbated the market situation with some really poor execution,” GE CEO John Flannery said.
GE, a company renowned for technology breakthroughs will now seek to reinvent itself with a number of broad changes, including shrinking its board from 18 to 12, shaking up leadership, and shifting its focus to cultivate more earnings for shareholders.
At GE Power, specifically, the changes relate to costs, capital allocation, working capital and operations, governance, and culture.…
Global new renewable power capacity grew in 2016 even as global new investment in renewables dropped, according to a report commissioned by the United Nations Environment Program out April 6.
The Global Trends in Renewable Energy Investment 2017 report found that global investment in renewables—excluding large hydro—fell in 2016 by 23% to $ 241.6 billion. That total represented the lowest global investment since 2013.
Global renewable power capacity grew 8% in 2016. “Wind, solar, biomass and waste-to-energy, geothermal, small hydro and marine sources between them added 138.5GW, up from 127.5GW in the previous year,” according to the report.
The reason for the drop in investment is twofold, the report says. “One was lower costs, with average dollar capital expenditure per MW down by more than 10% for solar photovoltaics, onshore wind and offshore wind, improving the competitiveness of those technologies,” according to the report. “The other was not so positive – there was a marked slowdown in financings in China, Japan and some emerging markets during the course of the year.…