Laurence Fink, founder of asset management firm BlackRock, is calling for new forms of corporate governance defined by clearly articulated social purpose. If businesses fail to address their unsustainable social and environmental impact, Fink said, they can no longer expect BlackRock support.
Access to renewables is a key consideration for General Motors when considering new factories and other investments, but more transmission lines will be needed to support the company's future growth plans, according to Global Manager of Renewable Energy Rob Threlkeld. "For us to continue to find projects that fit our needs, which is providing low-cost price-stable wind and solar, we need to be able to interconnect those assets to a grid," Threlkeld said.
The Trump administration is pursuing renewable energy development "quite aggressively" and will continue to focus on expanding its offshore wind assets, said Interior Department Counselor to the Secretary for Energy Policy Vincent DeVito on Tuesday while visiting Denmark to learn about the nation's experience with offshore wind. DeVito added that the Trump administration plans to allocate more federal funds to the industry and that it will let market forces shape the US energy mix.
Energy Secretary Rick Perry's resiliency proposal favoring nuclear and coal-burning power plants recently rejected by the Federal Energy Regulatory Commission wouldn't have withstood court challenges and other legal barriers, according to Commissioners Neil Chatterjee and Cheryl LaFleur. "I came to the conclusion that my colleagues did, that while I feel Secretary Perry asked the right question, he proposed the wrong remedy," said Chatterjee.
Arizona utility Tucson Electric Power has issued a request for proposals to add between 100 and 150 megawatts of installed wind capacity to its portfolio. It said it hopes to begin receiving power from the contract by 2021.
Allete Clean Energy has ordered 40 megawatts worth of turbines from GE Renewable Energy for various projects in Minnesota, Iowa and North Dakota undergoing refurbishment or expansion, according to the firm. The turbines are expected to qualify for 80% of the wind energy Production Tax Credit.
Innogy plans to invest around $12.2 billion in renewable energy-related projects over the next three years, including adding at least 7 gigawatts of new installed renewable energy capacity in the UK, Germany and the US, according to the firm. Innogy said about half of that total would go toward maintaining its existing portfolio, while about $4.3 billion will be used to develop new capacity.
The Federal Energy Regulatory Commission has ruled against propping up nuclear and coal-burning power plants as a means to bolster grid resiliency, and now state legislatures, utilities and other entities must do the same, writes Mary Anne Hitt, director of Sierra Club's Beyond Coal campaign. Hitt argues that bailing out uncompetitive energy projects, like a pair of coal-burning power plants slated for retirement in Indiana, prevents open competition among all energy sources.
Oklahoma policy advocacy organization Step Up Oklahoma has invited The Wind Coalition and other wind firms operating in Oklahoma to weigh in on the state's ongoing budget talks, including a proposal that would enact a new tax on wind generation. The Wind Coalition Executive Director Jeffrey Clark accepted the offer and expressed concern that the state would enact a new tax on wind generation but not other energy sources.
US ethanol production reached an average of 996,000 barrels per day, down by 37,000 barrels per day from the previous week and the first time in 13 weeks that the country's production declined below 1 million barrels per day, according to data from the Energy Information Administration. The four-week average also dropped to 1.049 million barrels per day for an annualized rate of 16.08 billion gallons.
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