A three-sentence letter issued by the Treasury Department on Thursday suggests relief may be on the way for a nervous renewables market. A concise three-sentence letter sent by the U.S. Treasury Department on Thursday suggests relief is on the way for a renewables industry concerned about meeting quickly approaching tax credit deadlines. The letter came […]
BlackRock Targets Storage With New Multibillion-Dollar Renewables Fund
Martin Torres, Americas chief for renewables at BlackRock Real Assets, talks batteries, offshore wind — and why things may be easier once subsidies disappear. The world’s largest asset manager has a new multibillion-dollar renewable energy fund in the works, and a good chunk of it may go to batteries. Long a major global investor in […]
US Lawmakers Stiff Solar, Wind Gets Modest Victory in Tax Deal
Despite months of intense lobbying, the solar industry comes up empty-handed in end-of-year spending legislation. After months of lobbying, the clean energy industry secured minimal tax credit extensions in the $1.37 trillion end-of-year deal U.S. lawmakers eked out this week to fund the government in 2020. Of the possible extensions that may have been stuffed […]
PTC India Financial Services thermal energy exposure to go below 10%
PFS says it is shifting its focus towards renewable energy (RE), roads and transmission PTC Financial Services, a non-banking finance company (NBFC), will see its exposure to stressed thermal power assets come down to nine per cent of its total loan book, with resolution of Jaypee’s Prayagraj power project reaching conclusion. The project was awarded […]
PTC eyes exit from non-core businesses to raise Rs 2,000 crore
PTC India is promoted by stateowned power utilities NTCP, Power Finance Corporation, NHPC and Power Grid Corporation of India. New Delhi: PTC India, the nation’s top power trading company, is in negotiations with potential suitors to sell two subsidiaries — nonbank lender PTC Financial Services and renewable energy firm PTC Energy, two people involved in […]
Solar ITC Extension Would Be ‘Devastating’ for US Wind Market: WoodMac
The booming U.S. wind industry faces an uncertain future in the 2020s. Few factors are more important than the fate of the solar ITC. An extension of the solar investment tax credit (ITC) at its 30 percent value would be “devastating” to the future U.S. wind market, according to a new Wood Mackenzie report. The […]
Wind Developer Targets ‘Countercyclical’ Opportunity With Post-PTC Projects
Scout Clean Energy is making hay under the PTC while investing in a longer-term wind project pipeline. The U.S. wind market’s overwhelming focus is on the next few years, when the federal Production Tax Credit remains at or near its full value. Quietly, however, some developers have begun investing beyond the PTC horizon. “We see […]
Texas’ Power Price Spike and Designing Markets for a Carbon-Free Grid
The Texas power market is designed to play chicken with blackouts. Is the model sustainable in a high-renewables system? Last week as Texas’ ERCOT grid reached its price cap of $9,000 per megawatt-hour and the price map on ERCOT’s website became a solid and deep red, many energy market wonks highlighted that this is a […]
Offshore Wind Tax Credits Could Be Included in a Fall Tax Extenders Package
Lobbying efforts are underway to persuade Republicans from coastal states with a heavy oil-and-gas industry presence that offshore wind development means jobs. If the U.S. offshore wind market gets an extension of its main federal subsidy, it may owe a thank you to the oil and gas industry. Two bills recently introduced in the U.S. […]
AEP Seeks Approval for 1.5GW Wind Development in Oklahoma
Regulators shot down AEP’s 2 GW Wind Catcher. Now its utilities in Texas and Oklahoma are back with a slimmed-down proposal. American Electric Power is asking state regulators for the second time in two years to approve a multibillion-dollar investment into wind power, as it races to capitalize on fleeting federal tax credits. On Monday, […]