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Top stories summarized by our editors
1/15/2021

The VindØ consortium has released a video illustrating its plan to build an artificial energy island in Denmark's North Sea that would eventually connect 10 gigawatts of offshore wind and feature an energy storage component. The consortium is led by PensionDanmark, PFA, Andel and Copenhagen Infrastructure Partners.

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ReNews (UK)
1/15/2021

The recent oil price rally is encouraging US shale producers to step up hedging for future production, with an indicator of hedging activity hitting a five-month high in December, according to the Commodity Futures Trading Commission. "Producers locked in a certain amount of wells at a certain price and hedging at $50 makes you look like a rockstar. This year will be about free cash flow," one shale executive said.

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Reuters
1/15/2021

Chevron has invested an undisclosed amount in Blue Planet Systems, a startup that develops carbon capture technology for converting flue gas from refineries and other industrial facilities into building materials. The two companies also signed a letter of intent to work together on pilot projects and the commercialization of the technology.

1/15/2021

Tellurian is planning to begin construction on the $16.8 billion Driftwood LNG export plant in Louisiana this summer, said co-founder and executive chairman Charif Souki, noting that there's been a substantial increase in customer interest in the past month. Driftwood LNG will have a production capacity of 18.1 million short tons per year when the first phase of the project is completed in 2025.

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Reuters
1/15/2021

The oil rally will encourage US shale operators to pump more oil in the second half of the year, according to OPEC, which expects US shale production to jump by 70,000 barrels per day this year to 7.37 million bpd. Meanwhile, global oil demand is seen increasing by 5.90 million bpd to 95.91 million bpd.

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Reuters
1/15/2021

The Bureau of Land Management's final oil and natural gas lease auction under the Trump administration took place on Thursday, generating about $4.1 million in proceeds from the sale of 37 parcels covering roughly 6,848 acres of federal land in New Mexico, Texas, Kansas and Oklahoma. Most of the land made available was in New Mexico's Eddy and Lea counties.

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Trump
1/15/2021

The Trump administration is expected to publish today in the Federal Register a rule that would change how royalty payments for energy production on public lands are calculated by using an average weekly benchmark price and allowing higher deductions for transportation and processing costs. The rulemaking was initiated following a 2019 letter from the American Petroleum Institute.

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The Hill
1/15/2021

ENGIE controls 31 gigawatts of installed renewable energy capacity worldwide, including the addition of nearly 2 GW worth of projects in the US during 2020. Engie has 10 GW of renewable energy projects in the works in North America.

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CleanTechnica
1/15/2021

Total has decided to end its membership in the American Petroleum Institute. API's position on climate only "partially aligns" with Total's, which is particularly upset about API's support of the Trump administration's decision to roll back methane regulations last year and its lack of support for electric vehicles.

RESB Murmurs: This news might seem tangential to renewables, but it is a big enough deal to include in this newsletter. Total also noted it was disappointed in API's financial support for US politicians who backed President Trump's withdrawal from the Paris Agreement. - Sean

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Total, Trump administration, Trump
1/15/2021

Sungrow has hit a new milestone for solar inverter shipments to the Americas, having sent more than 10 gigawatts worth of equipment to the region as of the end of 2020. Sungrow says the milestone underscores "its role as a big game-changer for renewable energy across the region at large."

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CleanTechnica