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Sempra Energy Exits U.S. Renewables Sector

April 25, 2019

Sempra Energy on April 22 marked its complete exit from the U.S. renewables business as it completed the sale of 724 MW of operating wind generation and battery assets to American Electric Power (AEP) for $ 1.05 billion.

The San Diego–headquartered utility holding company, which says it has the largest U.S. customer base, said the move is consistent with a strategy to pay down debt and redeploy capital to support the growth of Sempra Energy in North America.

The transaction on Monday is the latest in a series of divestitures over the past year to raise $ 2.5 billion in proceeds. As Sempra Energy CEO Jeff Martin noted in a February fourth quarter earnings call, it stems from a “deep strategic process” led by the company’s board to exit fossil-fired generation as well as renewable generation that began as early as 2014.

“[I]t’s very important to make sure we’re doing all the right things to advance the clean energy transition, but it’s also important that we’re doing that in a way which is thoughtful around price, diversity of supply in a balanced energy program,” Martin said.…

New York Latest State to Set 100% Carbon-Free Goal, with Increased Renewables

January 18, 2019

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New York Gov. Andrew Cuomo (D) is continuing his push for renewable energy in the state, as the governor on Jan. 15 announced an initiative for New York to achieve 100% carbon-free power generation by 2040. Cuomo’s “Green New Deal,” part of his 2019 Justice Agenda and as part of the state budget, calls for an increase in deployments of renewable energy projects, including offshore wind.

New York is the third state, behind Hawaii and California, to commit to a full portfolio of renewable power generation. The Sierra Club said more than 100 U.S. cities and counties also have committed to all renewable energy, and about a half dozen already have met that goal.

“Let us set the goal, 100% clean power by 2040, highest in the United States of America, a climate action council to eliminate the state’s carbon footprint,” Cuomo said in his State of the State address at the state capitol in Albany. He said he wants groups to “come up with the next generation of clean technology and train our workforce for those jobs.”…

Growth in Renewables Continues Despite Drop in UK Power Generation

January 8, 2019

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Renewable energy sources increased their share of the UK’s electricity supply in 2018, with new wind farms and biomass plants helping renewables contribute a record 33% of the country’s power in the past year. Coal-fired units, meanwhile, saw a 25% drop in their output, with coal providing about 5% of the country’s total generation.

The UK has said it wants to phase out all coal generation by 2025.

An analysis by Carbon Brief, a UK-based climate science and energy policy group that advises the government, in a report released Jan. 3 noted that the amount of electricity produced in the UK last year was at its lowest level since 1994, despite sustained population growth during the period, including an increase of 6 million people since 2005. Analysts said the reduced need for power is due to increasingly efficient use of energy and the country’s changing economy.

Carbon Brief’s report noted 335 TWh were generated by UK power plants last year, a drop of about 1% from 2017.…

DOE Considers Subsidies Modeled on Renewables for Small Modular Nuclear Reactors

November 16, 2018

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State-imposed standards and financial incentives such as those used to spur widespread adoption of renewables technologies offer a promising model to address challenges to commercialize small modular reactors (SMRs), says a report by the U.S. Department of Energy’s (DOE’s) Office of Nuclear Energy.

But to make a meaningful impact, nearly $ 10 billion in incentives will be needed to deploy 6 GW of SMR capacity by 2025, it acknowledges.

The report, “Examination of Federal Assistance in the Renewable Energy Market,” was prepared by Kutak Rock and Scully Capital under contract with the DOE and made public on November 15. It notes that while uncertainty attached to the rapidly evolving market environment is shadowing long-term investment decisions at electric utilities in the U.S, current trends in the power sector present an opportunity for SMR development “as a flexible, carbon-free baseload generation resource which can be built on a smaller scale than traditional nuclear plants.” However, efforts to commercialize SMR technologies have lagged owing to several challenges.…

Texas Utility Ready to Ramp Up Renewables

March 14, 2018

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The CEO of Texas-based CPS Energy said March 6 that the utility wants to generate at least 50% of its power from renewable sources by 2040, part of a plan that includes the addition of 550 MW of battery storage, as it looks to reduce its dependence on fossil fuels. But the city-owned San Antonio utility will continue to operate coal and natural gas-fired power plants, though the city’s mayor has said he would oppose building more fossil fuel-powered units.

CPS CEO Paula Gold-Williams outlined the company’s “flexible path” strategy in a meeting with the utility’s board of directors on Tuesday. The utility last year announced it would close its two coal-fired units at the 840-MW Deely station (Figure 1) in San Antonio, one of several Texas coal plants being retired this year, though it will continue to operate two natural gas-fired units—the Sommers Gas Plant—at the site, with generation capacity of 892 MW.

1. Closing in 2018. The Deely power plant near San Antonio will be closed in 2018.

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Trump Budget Backs Nuclear, Coal; Cuts Funding for Renewables

February 13, 2018

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The Trump administration’s fiscal year 2019 budget request released February 12 asks for more money to support fossil fuel-based power systems, but seeks funding below current levels for other energy initiatives, including renewable energy and energy efficiency.

The energy funding is part of a $ 4.4 trillion budget that features large increases in military spending, along with deep cuts to several domestic programs and entitlements, including Medicare, Medicaid, food stamps, and Social Security disability payments. Analysts immediately said it has little chance of being enacted by Congress as written, in part because of fears of what the proposal would add to the federal deficit over the next decade. A New York Times analysis said the proposed budget would add $ 984 billion to the federal deficit next year, and add about $ 7 trillion to the federal deficit over the next 10 years.

The proposal, Trump’s second since taking office in January 2017, is similar in many ways to his administration’s proposed 2018 fiscal year budget, which was rejected by Congress.…