Gim Seong-gon was running a steel-manufacturing business in the late 1980s when he became fascinated by wind power. The South Korea native saw growth potential in the field and decided to get involved. It was a good decision. With an early injection of capital from Goldman Sachs Group Inc., his CS Wind Corp. has become […]
Inauguration of President Biden Kicks Energy and Climate Agenda Into Action
Hours after being sworn in, Joe Biden resubmits U.S. to Paris Agreement and lays the groundwork for a major climate-change mitigation push. U.S. President Joe Biden hit the ground running Wednesday, with plans to sign a raft of executive orders to start the process of reversing Trump administration environmental and energy regulations and set the […]
Equinor, BP win New York contracts for offshore wind power
OSLO: Norwegian energy major Equinor has won a contract to supply offshore wind to the U.S. state of New York from the planned Empire Wind 2 and Beacon Wind 1 projects, the company said in a statement on Wednesday.Operator Equinor announced in October it was bidding for the two projects, which together have the potential […]
Germany agrees on amended energy law to boost renewables
The energy law is now expected to go before a parliamentary committee on Tuesday ahead of votes in the lower house on Thursday and the upper house on Friday, with a view to enacting the legislation by Jan. 1, 2021. BERLIN: Germany’s ruling coalition has agreed changes to a new energy law that aims to […]
Tesla CEO says electric cars will double global electricity demand
Increasing the availability of sustainable energy is a major challenge as cars move from combustion engines to battery-driven electric motors FRANKFURT: Tesla Chief Executive Elon Musk said on Tuesday that electricity consumption will double if the world’s car fleets are electrified, increasing the need to expand nuclear, solar, geothermal and wind energy generating sources. Increasing […]
6 Out-of-the-Ordinary Energy Concepts From 2020
Even COVID-19 didn’t lock down the ingenuity of energy entrepreneurs this year. It’s been a remarkably business-as-usual year for renewables, despite the societal upheaval wrought by the coronavirus pandemic. Most of our headlines this year have still been about conventional renewable segments such as solar and energy storage. On the margins, virtual power plants have […]
Wind energy powers more than half of UK electricity for first time
The percentage of wind power in the country’s energy mix hit a record 50.67 percent on Saturday, the company said over the weekend, beating the previous record of 50 percent in August. London: Wind power accounted for more than half of Britain’s daily generated electricity on Saturday in the wake of Storm Bella, according to […]
South Africa Renewables Developers Impatient for New Bidding Opportunities in 2021
A stop-gap procurement ending this month raises hopes for a new bid window soon. South African independent power producers (IPPs) are hoping for the return of a national procurement program next year following a stop-gap auction ending this month. Offers to cover 2 gigawatts of “risk-mitigation” IPP capacity were due by Dec. 22, after an […]
Hannon Armstrong and Clearway Link $950M Solar, Wind and Storage Investment
Nearly 2 gigawatts of existing and new projects from Hawaii and California to Texas and West Virginia. Hannon Armstrong and Clearway Energy Inc. are jointly investing about $950 million in a nearly 2-gigawatt portfolio of existing and new wind, solar and energy storage projects, capping off a year of record-setting U.S. renewables growth with an […]
Spain Tenders 3 Gigawatts of Renewables Under New Pay-as-Bid Model
Solar and onshore wind get 1 gigawatt each while floating offshore wind seeks foothold. Spain has launched a tender for up to 3.18 gigawatts of renewable generation in its first auction under a pay-as-bid model introduced earlier this year. The model, similar to the contracts-for-difference program used in the U.K., aims to correct problems with […]