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1) Avangrid files a motion in MA for one month suspension of offshore Commonwealth Wind PPA, citing, "economic challenges… historic price increases, sharp and sudden increases in interest rates,” and requests, "modest changes", to associated PPA. 2) Siemens Gamesa releases a wind turbine on its 5.X platform w/rated output of 7 MW, for medium to high wind..
Energy Central…
I've personally witnessed, and participated in, Microsoft's commitment to implement cybersecurity software supply chain improvements to help the US Government implement Executive Order 14028 requirements for SBOM. While many software vendors are talking the talk on Executive Order 14028 the folks at Microsoft are walking the walk and making real progress. I fully expect that Microsoft..
Energy Central…
As New York this year readies to build the 132-MW South Fork Wind Farm—its first offshore wind project—the state will dedicate $ 500 million in funding to enable offshore wind manufacturing and supply chain infrastructure. The investment announced by Gov. Kathy Hochul as part of New York’s 2022 State of the State plan is just one of a suite of measures aimed at kickstarting the state’s offshore wind industry.
The New York State Energy Research and Development Authority (NYSERDA) on Jan. 5 unveiled plans to launch its third offshore wind procurement this year, a measure that could support the construction of 2 GW in new projects. The state’s designated R&D agency also moved to initiate a new “master plan”—Master Plan 2.0: Deep Water—“to unlock the next frontier of offshore wind development.” The state additionally said it would work to identify strategic wind cable corridors and access key points of interconnection of the grid as part of a broader plan to realize an offshore wind transmission network.…
The post The POWER Interview: Evaluating Energy Investments appeared first on POWER Magazine.
Global upheaval in energy markets has been exacerbated by the coronavirus pandemic, and by ever-changing political winds, with energy investors at times torn between finding the best returns while also considering the impact of climate change.
Many economies depend on fossil fuels, so moves away from coal-fired power and other forms of thermal generation can have large economic consequences. There also have been concerns about maintaining reliable—and resilient—supplies of electricity as baseload power sources are shuttered and retired. Governments setting carbon-neutral and other climate goals must consider the importance of providing reliable power to national, state and provincial, and local regions, while minimizing economic impacts.
Several analysts who have spoken to POWER in the past year have discussed the balancing act facing investors, including many of the world’s largest banks and financial institutions, when it comes to performing fiduciary duties for their clients while at the same time pursuing environmental, social, and governance (ESG) strategies.…
A new report released July 31 details continued growth in global energy storage, driven by lower costs for lithium-ion batteries.
Research company BloombergNEF (BNEF) in its latest forecast published Wednesday said energy storage installations worldwide will grow across the next two decades, from the 9 GW/17 GWh of capacity deployed as of last year, to 1,095 GW/2,850 GWh by 2040, as battery costs fall by half by 2030 compared to today’s levels. It said two markets—stationary storage and electric vehicles—will drive demand for batteries.
BNEF said most of the new energy storage capacity for the power market is likely to be grid-scale.
Yayoi Sekine, a co-author of the report, in a news release said the latest research has “two big changes,” noting that “this year … we have raised our estimate of the investment that will go into energy storage by 2040 by more than $ 40 billion,” with BNEF forecasting $ 662 billion will be invested in storage over the next 20 years.…
Investments in clean energy projects have hummed along in the past few years, with the growth of renewables worldwide continuing to increase levels of solar, wind, and other resources in the global energy mix.
Thomas Byrne has been in the middle of this energy transformation. Byrne, co-founder and CEO of CleanCapital and a graduate of the University of California-Berkeley and the UCLA School of Law, leads the company’s strategy and operations. Before CleanCapital, he served as partner and general counsel at True Green Capital, a private equity firm focused on distributed solar investments. He led the financing of landmark clean energy projects including NRG’s California Valley Solar Ranch, Caithness’ Shephards Flat Wind Project, and Terra Gen’s Alta Wind Energy Center.
Thom Byrne of CleanCapital
In his role as an attorney specializing in clean energy financing, Byrne saw first-hand how inefficiency was hampering the growth of clean energy investment. He envisioned a technology-based solution, and founded CleanCapital, which looks to connect investors with opportunities in the clean energy space, with an eye toward “reducing the world’s dependence on fossil fuels and generating attractive returns to boot.”…