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Bloomberg ($): New York City’s retirement funds pledged to reach net-zero greenhouse gas emissions across its investment portfolios by 2040, becoming one of the first cities to do so. The plans call for doubling investments in renewable energy, energy efficiency and other climate-related solutions to more than $8 billion by 2025, according to a statement […]
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offshoreWind.biz: Empire Offshore Wind, a joint venture between Equinor and bp, has named Vestas as the preferred turbine supplier for the 2.1 GW Empire Wind 1 and Empire Wind 2 offshore wind projects in New York, USA. Vestas will provide 138 V236-15.0 MW turbines for Empire Wind 1 and 2, located 15-30 miles off the […]
Dennis Wamsted, Seth Feaster, Tom Sanzillo and Press Release
Declining demand for coal plants, credit agency downgrades and investor scrutiny create challenges for Lightstone investment prospects
October 14, 2021 (IEEFA) — The major pension and retirement funds that own a piece of the General J.M. Gavin (Gavin) coal plant in Ohio face increasing challenges from their investment. Most investors do not know that they own a share of the plant and some are just beginning to realize it, according to an […]
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Associated Press: A group studying the economics of offshore wind energy in the U.S. says building and operating the nascent industry will be worth $109 billion to businesses in its supply chain over the next 10 years. The report by the Special Initiative on Offshore Wind comes as states on both coasts and the Gulf […]
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E&E News ($): The Interior Department will begin an environmental review for a massive offshore wind farm 10 miles from the New Jersey coast, the latest example of the Biden administration’s push to cut emissions with a build-out of renewable energy infrastructure. The Atlantic Shores project would consist of two individual wind farms, both of […]
Tom Sanzillo
Harvard divestment raises issue of climate, ethics and investments by higher ed and philanthropies
The recent decision by Harvard to divest from fossil fuels is part of a trend and also a precedent-setting event. Earlier this year, BlackRock informed the New York City pension funds that the divestment movement is no longer limited to small investment funds. Its report found that an increasing number of large institutional investors are […]
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Albany Times Union: State officials on Monday named two competing bidders as the winners in a long-awaited search for companies that can bring clean power to New York City – with both saying they will bury their transmission lines under the Hudson River. The state Energy Research and Development Authority awarded the bids to two […]
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New York Times ($): The Biden administration on Wednesday released a plan to produce almost half of the nation’s electricity from the sun by 2050 as part of its effort to combat climate change. Solar energy provided less than 4 percent of the country’s electricity last year, and the administration’s target of 45 percent would […]
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Bloomberg ($): The U.S. installed a record amount of wind-generating capacity last year, adding nearly 17,000 megawatts of power on land, according to an Energy Department report being released Monday. Wind energy’s share of total utility-scale generating capacity in the U.S. was only 11% in 2020, behind natural gas at 43% and nuclear and coal […]
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Reuters: The third-largest U.S. public pension fund on Thursday said it is launching reviews over climate concerns on $640 million invested in 42 shale oil and gas firms, including ConocoPhillips (COP.N), Hess (HES.N) and Pioneer Natural Resources (PXD.N). The move by the New York state pension fund comes days after the United Nation’s Intergovernmental Panel […]
IEEFA U.S.: Energy transition to renewables likely to accelerate over next two to three years
Coal, gas set to become biggest losers as renewable generation climbs quicklyMarch 31, 2021 (IEEFA) — The speed and scope of the energy transition to renewables will pick up pace over the next two to three years, according to the Institute for Energy Economics and Financial Analysis’ U.S. Power Sector Outlook 2021. Solar and battery storage adoption is enjoying almost exponential growth, and wind and solar […]