IEEFA Energy Finance 2016: India Solar Expansion Gaining Momentum

first_imgIEEFA Energy Finance 2016: India Solar Expansion Gaining Momentum FacebookTwitterLinkedInEmailPrint分享IEEFA analysts Tim Buckley and Jai Sharda began IEEFA’s Energy Finance 2016 conference in New York this morning with a report suggesting that India’s rapid solar-industry expansion reflects policy and market changes that will dictate the country’s energy development for generations to come.Buckley said the government of Prime Minister Narendra Modi is taking the long view toward building an energy economy encumbered by coal.“You can’t continue to pollute the water, you can’t continue to pollute the air, you can’t kill your own people,” Buckley said. “Coal will gradually just be phased out in favor of renewables.”Buckley and Sharda noted that while India has adopted energy-transition policies modeled after those in China, where utility-scale solar construction is the norm, and Australia, where rooftop solar takes up the lion’s share of solar growth, India is simultaneously and aggressively pursuing both.India has become the second-biggest solar-energy installer in the world in just two years, and IEEFA sees Indian solar-energy capacity increasing by 300 percent this year and next.Much of that comes from investment by foreign companies that see opportunity in India, including SoftBank of Japan and FoxConn of Taiwan. Indian energy conglomerates are changing course too. Among them: Adani, which has recently stated the intent of investing $10 billion in 10 gigawatts of solar energy in India by 2021. Buckley noted Adani this month will go online with a $650 million, 648-megawatt India utility-scale solar project that will be the largest in the world, “probably double the next biggest one.”“And they’ve done it from a dead start 14 months ago.”He noted also that Reliance Power, a major Indian electricity producer. has recently cancelled 14 gigawatts of thermal power project proposals to focus instead on six gigawatts of solar and five gigawatts of hydro power.“This is one of the most powerful companies in the country effectively announcing that they’ve given up on thermal and are moving to renewables,” Buckley said. “It’s one of the reasons we think coal will not be the long-term solution to India’s energy challenges.”last_img read more

Business sector blasts past old record for renewable energy PPAs

first_img FacebookTwitterLinkedInEmailPrint分享Solar Builder:This week, the Business Renewables Center (BRC), a membership program at Rocky Mountain Institute (RMI), announced that corporate renewable energy procurement reached a new record in 2018, with 3.57 gigawatts (GW) of clean energy projects announced this year to date in the United States. This number exceeds both the 3.12 GW record set in 2015, the highest previous year, and the 2.89 GW contracted for in 2017.The announcement highlights the growth of corporate-backed renewable energy transactions, which have totaled 13.52 GW in the U.S. since 2008, according to data collected by RMI’s Business Renewables Center. To date, BRC member companies have been involved in 99 percent of all U.S.-based nonutility transactions for renewable energy, and the number of corporates contracting directly for clean energy has grown from just four companies in 2013 to nearly 60 companies today.Facebook was responsible for 2018’s record-tipping deal with its announcement on July 18, 2018 to purchase 437 megawatts (MW) of solar energy from Pacific Power for a data center in Oregon. Facebook is one of 140 companies that have pledged to purchase 100 percent renewable energy over the next few decades via the RE100 pledge.Jon Creyts, managing director at Rocky Mountain Institute, commented, “The Business Renewables Center applauds the acceleration of corporate renewable energy procurement and the dedication these companies are showing to turn commitment into action. We are bearing witness to unprecedented growth in this market, which is critical to achieving the goal of a clean, prosperous, and secure low-carbon economy.”More: Corporations have contracted for a record 3.57 GW in renewable energy in 2018 Business sector blasts past old record for renewable energy PPAslast_img read more

Orlando to study possible closure of Stanton coal plants

first_img FacebookTwitterLinkedInEmailPrint分享Orlando Sentinel:Global warming has triggered worldwide action for years, but the city of Orlando and its electric utility have never considered publicly whether to shutter a pair of coal-burning power plants — until now. On Tuesday, the Orlando Utilities Commission is expected to launch studies that cost $1 million, take 18 months, solicit customer input and address if or when its two coal plants should be retired.Sierra Club’s Susannah Randolph and others urgently want Orlando and utility officials to quickly reach a decisive conclusion. “We are very hopeful that OUC and the city will announce a retirement date for the Curtis Stanton coal plants,” she said.OUC’s Stanton Energy Center’s Units 1 and 2 started up in 1987 and 1996 for about $1 billion each in today’s dollars.Locally, Sierra Club commissioned a study by a consultant, Synapse Energy Economics Inc., on the viability of retiring OUC’s coal plants.In a July memo to Sierra, Synapse stated that it relied on “high-level publicly available data” to determine that with its coal plants, OUC has far more capacity to produce electricity than its customers need. “These observations suggest that OUC likely has the ability to begin the process of retiring one of the coal-fired units immediately,” the Synapse memo states.Linda Ferrone, Orlando Utilities Commission chief customer officer, said the coming studies by OUC will take a deep dive into the utility’s options from 2020 to 2040. Along with the fate of the coal plants, the studies will evaluate the role of solar energy, the potential need to rely more on natural gas and efforts to reduce customer demand for electricity, Ferrone said.More: Orlando’s utility to consider shuttering its coal plants Orlando to study possible closure of Stanton coal plantslast_img read more

Alabama utility to bill customers $740 million for environmental upgrades at closing coal plant

first_img FacebookTwitterLinkedInEmailPrint分享 William Crawford Gorgas Electric Generating Plant near Parrish is set to be retired in April, but Alabama Power customers will be repaying about $740 million in costs related to the Walker County coal power plant long after it closes, according to documents the company filed with the Securities and Exchange Commission.Alabama Power’s parent group, Southern Company, disclosed in its latest public 10-K filing that “approximately $740 million of net investment costs [from Plant Gorgas] will be transferred to a regulatory asset at the retirement date and recovered over the affected units’ remaining useful lives.” That will allow Alabama Power to recover the costs of investments it made in the coal-fired power plant, plus a profit margin set by the Alabama Public Service Commission, from customers through their electric bills.Among those costs, Alabama Power spent more than $400 million at the plant since 2010 on environmental upgrades, in efforts to keep the plant — which has been in operation since 1917 — in compliance with tightening federal environmental laws, including the U.S. Environmental Protection Agency’s MATS (mercury and air toxics standards) rule, meant to limit the amount of mercury emitted to the air at coal-fired power plants.Critics like the Southern Alliance for Clean Energy – an environmental group that pointed out the $740 million — said the power company was spending too much money on keeping old coal plants in operation rather than exploring other options, such as converting to natural gas. “A number of people, including us, wanted Plant Gorgas to be retired back in 2015 rather than investing $300 million to keep the plant going,” said John Wilson, research director for the SACE. “And now Alabama Power customers will be paying for this, for these past years of continued investments in that plant.“And that really could have been avoided. Maybe not the whole $700 million could have been avoided, but certainly somewhere between $300 and $400 million could have been avoided if they had taken earlier action to recognize that this plant was not economical in the long run.”The company blamed costs associated with environmental mandates when announcing the plant would close. The company has not announced plans to add any new plants or facilities due to the closing and has said that it does not anticipate any layoffs among the employees at the plant.More: Alabama Power customers to pay $740 million after coal plant closes Alabama utility to bill customers $740 million for environmental upgrades at closing coal plantlast_img read more

$93 million pier project in Connecticut to support offshore wind

first_img FacebookTwitterLinkedInEmailPrint分享Hartford Courant: Connecticut Port Authority and terminal operator of the State Pier in New London announced Thursday a $93 million public-private partnership with a wind energy producer to upgrade the pier to capitalize on growing offshore wind energy.Bay State Wind, a joint venture of Ørsted, a wind energy company based in Denmark, and Eversource, which has committed $225 million in a partnership with Ørsted, struck the deal with the Port Authority and Gateway, the operator of the terminal at the State Pier.The intent is to significantly increase assembling and handling of turbines headed to the Atlantic Ocean off Massachusetts and eastern Long Island.Financing will pay to upgrade the State Pier and its heavy-lift capacity, allowing the State Pier to meet the requirements of the offshore wind industry. The intent is to promote long-term growth at the port by increasing its ability to accommodate heavy-lift cargo.More: Connecticut, wind energy producer strike deal to upgrade New London’s State Pier as industry terminal $93 million pier project in Connecticut to support offshore windlast_img read more

New York governor threatens to revoke National Grid’s utility license in pipeline dispute

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Gov. Andrew Cuomo said he intends to revoke National Grid USA’s license to distribute natural gas in downstate New York, escalating a dispute with the utility over an ongoing gas connection moratorium. He gave National Grid 14 days to argue its case and present remedial actions before he takes action.The governor, in a Nov. 12 letter to National Grid leadership, said the company failed to fulfill its duty to provide “adequate and reliable service” since a May decision to stop providing new gas hookups in New York City and Long Island. He said the basis for the moratorium — the state’s refusal to permit a new pipeline to ease capacity constraints — is evidence National Grid also failed to plan to meet future supply.“There are only two theories to explain National Grid’s actions. Either National Grid was grossly negligent in relying exclusively on the speculative construction of a private pipeline to meet the demands that it was statutorily required to provide; or, National Grid deliberately defrauded the people of the state by not developing or pursuing existing supply options to force approval and reliance on a private pipeline to further their business interests at the cost of the consumer,” Cuomo said.“Either alternative clearly violates your certificate of operation in the State of New York,” he concluded in the letter to National Grid PLC CEO John Pettigrew and John Bruckner, president of the company’s New York operations.Cuomo’s latest maneuver brings the state and National Grid to the brink of a rare use of state power: stripping a major utility of its certificate of public convenience and necessity, the license that underpins its ability to provide service. That license comes with privileges rare beyond the world of utilities, including a guaranteed rate of return and the power of eminent domain, but companies must demonstrate they can provide reliable service and their operations are in the public interest.The dispute has its roots in New York’s refusal to grant a critical water permit to Williams Cos. Inc.’s Northeast Supply Enhancement pipeline project. National Grid imposed a gas moratorium in May following the decision, saying it could not safely hook up new gas customers because supply was growing too tight.More ($): Gov. Cuomo tells National Grid he plans to revoke its NY gas license in 2 weeks New York governor threatens to revoke National Grid’s utility license in pipeline disputelast_img read more

Oil price fallout spreads as shale producer Whiting Petroleum files for bankruptcy

first_img FacebookTwitterLinkedInEmailPrint分享Reuters:Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.Whiting was once the largest oil producer in North Dakota, now the second-biggest oil-producing state in the country. It has agreed with creditors to cut its debt by about $2.2 billion through an exchange of some of its notes for 97% of new equity. Existing shareholders will own 3% of the reorganized company.Numerous shale oil and gas producers, faced with burdensome debt loads, have cut spending aggressively as oil prices have plunged by about two-thirds this year with the coronavirus pandemic slamming fuel demand and Russia and Saudi Arabia flooding markets with extra crude.The company’s market valuation has shrunk to $32 million from as much as $15 billion at its peak in 2011, when investors were discovering the burgeoning shale sector. As of Dec. 31, Whiting had $2.8 billion in debt and more than $585 million in cash on its balance sheet.Analysts believe the energy sector is primed for more defaults in coming months. Whiting’s bankruptcy brings the trailing 12-month high-yield energy default rate to more than 11%, and the year-end figure could ultimately surpass the 19.7% level set in January 2017, according to Fitch Ratings.Energy producers Chesapeake Energy Corp and Chaparral Energy Inc as well as natural gas producer Gulfport Energy Corp are working with debt restructuring advisers or investment banks to shore up cash reserves.[Arathy S Nair]More: U.S. shale company Whiting becomes first major bankruptcy of oil-price crash Oil price fallout spreads as shale producer Whiting Petroleum files for bankruptcylast_img read more

Rystad: Offshore Europe, wind investment likely to top oil and gas spending by 2022

first_img FacebookTwitterLinkedInEmailPrint分享Recharge:Capital investment in sea-based wind power off Europe will match offshore oil & gas in the next year and eclipse it in 2022, according to new calculations from consultancy Rystad Energy, as the collapse in global crude markets takes its toll on supermajor’s project development ambitions.Annual spending levels on offshore wind in the Northern seas, which has hovered above $10bn a year since 2015, is expected to climb to around $13.8bn billion in 2020, to $18.2bn in 2021, and more than $22bn the following year, as capital expenditure (Capex) in offshore oil & gas “continues [its] downwards trajectory” from more than $25bn last year to less than $17bn by 2022.“In light of the postponement of multiple FIDs [final investment decisions] on projects and lower investments in offshore oil & gas, coupled with increasing activity in the offshore wind sector, [we] expect that the two markets will reach parity as soon as next year [and] that Capex on offshore wind will surpass upstream oil & gas spending in Europe in 2022,” said Rystad Energy’s project manager for offshore wind Alexander Flotre.From an installed base just under 22GW last year, European offshore wind power capacity is set to expand to more than 53GW by 2025, constituting an annual growth rate of 16%, according to Rystad forecasts.“While Europe’s ambitious plans for 2030 will require new tender rounds in the coming years, most of the commissioning activity towards 2025 is expected to come from projects that have already been approved,” noted FlotreMegaprojects including Dogger Bank, Sofia and the coming phase of the Hornsea complex, along with developments in “established” markets such as the Netherlands, Germany, Belgium and Denmark are expected to contribute to the increased spending levels, while newcomers such as France and Poland will add to the growth in the 2023 to 2025 period, Rystad believes.[Darius Snieckus]More: Capital spend on sea-based wind to eclipse offshore oil off Europe ‘within two years’ Rystad: Offshore Europe, wind investment likely to top oil and gas spending by 2022last_img read more

Solar Chargers

first_imgHave you ever been out on a trip or adventure and needed a charge for your MP3 player, cell phone, GPS, or other device? Now with some of the new portable solar charging devices, you can keep going. Solar power has been around for many years, but only in the last few years has it advanced to the level where it can recharge portable electronics. Here are some devices to check out: The Solio Classic Hybrid Charger from Solio makes it easy to recharge your portable device for many hours of use, it charges and stores energy for later use. A fully charged Solio classic will give you around 15 hours of playback on a typical MP3 player or charge most phones twice. You can check out the specifications here: Solio ClassicMSRP: $99.95This year we’ll begin to see a lot more devices of this kind. Some of the new chargers to come will even utilize wind technologies like the K2 from Kinesis Industries. Keep an eye out for the K2. Early rumor is MSRP: $99.99Don’t be held back by battery life anymore.Phil Graveslast_img read more

Say What?

first_imgI hope you ate a good breakfast.I’ve heard a lot of interesting comments by runners at various races that have stuck with me over the years, most of them are quite humorous. Everybody has a unique personality and sometimes these individuals (some will remain anonymous) really shine especially on the big stage (race day). Here are just a few of my favorites:“Extending my lead!” – Running coach and ultra badass Howard Nippert when asked by the local media after winning his 2nd JFK 50 mile what he thinks about while running for so long.“Here on the East coast rocks don’t move.” – While anxiously standing at the start line of the JFK 50 miler I heard one East coast ultra runner say this to another West coast ultra runner. He was wearing gaiters for the race.“Well I’m here to rip some face” – Two-time Shut In Ridge Trail race champion, Bryan Dayton after hearing the plethora of sand bagging from his competition at the start line of Shut In. After his statement, the stunned silence was awesome. Bryan went on to back up these words as I laughed about it for way too long.“I have to race at least 100 miles to reward myself with something like that!” – After we had just completed a 50 mile race, Anne was telling one of her competitors that we were heading to Dairy Queen for a Blizzard treat to celebrate. This was her response.“If a suppository company wanted to sponsor you, would you oblige?” – Another classic quote from Howard Nippert. He asked me this question during a training run together. I was telling him who my current sponsors were at the time. He was not impressed.“Ultrarunning: Most Sports Require Only One Ball” – Team inov-8 runner, Amy Lane’s trophy inscription after winning the overall title in a 50k race in New England. Rule #1: never assume a guy is going to win an ultra race.“I hope you ate a good breakfast.” – Overheard one elite male ultrarunner say this to another just before the start of an ultra race.“Downhill trail running 101” – Ultra running legend, Tom Possert said this to me as he pulled away on the final steep and rocky descent of the Rattlesnake 50k in WV in 2003. Three years later I was back chasing the eventual winner once again and did a flip onto my back running down this same hill. I guess I had failed Tom’s class again.“Yep, her horse won!” – This is what I started telling people at the Houston Airport while lugging a 60 lb trophy with a big stallion on it. Anne had won the Sunmart 50 mile earlier that day. I got more tired trying to explain she had just run 50 miles.“Quick just yank my arm back down as hard as you can!” –  The day I literally “fell” in love with my wife after she jerked my dislocated shoulder back into place. We were training together several years ago for the Mt. Mitchell Challenge on an icy section.last_img read more