News

Private equity-backed firm files plan for massive Maryland wind farm

Bloomberg ($): US Wind Inc. has submitted a bid to Maryland regulators to build a massive wind farm off the state’s shoreline, the latest proposal for such projects off the East Coast and a potential step closer to the Biden administration’s goal of eliminating carbon emissions from power plants. The Momentum Wind farm would include […]

August 4, 2021 Read More →

Appeals court orders FERC to reconsider ruling on Texas LNG projects

S&P Global Platts ($): The US Court of Appeals for the District of Columbia Circuit has found fault with the Federal Energy Regulatory Commission’s climate and environmental justice reviews for the Rio Grande LNG and Texas LNG projects, planned in the Brownsville, Texas, area, and has remanded to FERC the orders authorizing the projects. The […]

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UK renewables out-generated fossil fuels for first time in 2020

Renew Economy: Renewable energy sources across the United Kingdom generated more electricity in 2020 than fossil fuels, a first for the country amidst a year which saw an unprecedented drop in energy demand due to the global Covid-19 pandemic. The UK Department for Business, Energy & Industrial Strategy (BEIS) last week published its annual energy […]

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Major Philippines bank announces 2033 coal financing exit

Philippine Daily Inquirer: Ayala-led Bank of the Philippine Islands (BPI) aims to stop by 2033 all lending to coal-fired power projects—which form 45 percent of its current power generation portfolio—and channel more funds to renewable energy projects moving forward. BPI, which is celebrating its 170th anniversary this year, has identified sustainability among its four key […]

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Indonesia plans launch of largest floating solar project in Southeast Asia

Reuters: Indonesia will begin work on a 145 megawatt (MW) floating solar power project, the largest in Southeast Asia, after state power utility Perusahaan Listrik Negara (PLN) and Masdar of United Arab Emirates agreed financing for the project on Tuesday. Indonesia aims to have 23% of its energy from renewable sources by 2025 and the […]

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Renewable investments hit record levels in first half of 2021

Bloomberg ($): Investors poured more money than ever into renewable energy in the first half of the year, but the pace is far from enough to sufficiently curb increasing carbon emissions. As much as $174 billion was spent on solar, offshore wind and other green technologies and companies in the period, according to data from […]

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Finance firms, ADB drafting plan to close Asian coal plants early

Reuters: Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia’s coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian […]

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Terra-Gen secures financing for major solar-plus-storage project in California

S&P Global Market Intelligence ($): Terra-Gen LLC completed the first phase of financing for its Edwards Sanborn solar storage facility in Kern County, Calif. The financing includes $804 million senior secured credit facilities comprising a $400 million construction and term loan facility, a $328 million tax equity bridge facility and a $76 million construction and […]

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Leading Australian renewable developer plans wind, storage projects

Renew Economy: Australia’s largest renewable energy operator is planning major investments in massive wind farms in New South Wales, and is also looking at a handful of big battery and other storage projects. Powering Australia Renewables on Monday completed the takeover of Tilt Renewables’ Australian assets, delivering it a 50 per cent boost in operating […]

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AES Indiana to buy big solar-plus-storage project from NextEra Energy

ReNews.biz: AES Indiana today announced plans to acquire and construct the 250MW Petersburg solar plus storage facility in the U.S. state of Indiana from NextEra Energy Resources for an undisclosed price. The project, in Pike County, will have 180 megawatt-hours of storage capacity. It will be connected to AES Indiana’s existing Petersburg generating station and […]

August 4, 2021 Read More →