Wind Farms

The U.S. Treasury Department announced on Friday stricter rules regarding how solar and wind energy projects qualify for federal tax incentives that will be phased out by President Donald Trump’s new tax law and spending plan over the next two-year period. The new rule requires that utility-scale projects must show continuous and substantial physical work in order to qualify for the 30% tax credit. However, they still have 4 years to claim it. In the past decade, developers of projects were able to "safe-harbor" their projects for four year by incurring only 5% of costs. A document from an agency...

Sixth Street, a U.S.-based investment firm, announced on Monday that it had purchased 38% of Sorgenia. The deal values Sorgenia at $4.65 billion. Asterion Industrial Partners, a Spanish infrastructure fund, can now exit Sorgenia’s capital. F2i, Italy’s main infrastructure fund with a 62% share, remains the largest shareholder of Sorgenia. F2i has agreed to transfer its assets for wind and solar energy generation in Italy and Spain, including EF Solare and Renovalia Tramontana, to Sorgenia. Asterion invested its first money in Sorgenia in 2020, supporting the company's efforts to become a major player in Europe’s green energy transformation. Richard Sberlati,...

The Trump administration announced on Thursday that it would audit grants of $15 billion awarded to projects involving the power grid, manufacturing supply chains and other infrastructure during the Biden Administration. Donald Trump has pushed for domestic oil, gas and coal production while also halting the construction of offshore wind farms and taking measures to relax regulations on fossil fuels. Last week, the Republican Trump administration proposed to cut billions of dollars from funding for renewable energy projects and electric car chargers. The DOE has been reviewing the billions that were rushed through the door in the last days of...

Morgan Stanley and Goldman Sachs are exploring the possibility of selling their majority stake in German renewable projects developer PNE. This could lead to a bid being made for the 1,09 billion euro ($1.17 billion), firm. One person said that Goldman Sachs is already contacting potential private equity investors about their interest in Morgan Stanley’s 50.06% stake, currently valued at around 543 million Euros, in PNE. The people added that the deliberations are still at an early stage, and it is not certain if a deal will happen. Morgan Stanley, Goldman Sachs, and PNE declined to comment. According to German...

U.S. President Donald Trump in his very first day of workplace on Monday suspended brand-new federal offshore wind leasing pending an ecological and economic evaluation, saying wind mills are unsightly, expensive and damage wildlife. Former President Joe Biden supported the overseas wind market, setting a target for 30 gigawatts (GW) of jobs by 2030, up from 42 megawatts at the end of 2023, triggering many European project developers to acquire leases and strategy wind farms in the United States. Trump's executive order is not anticipated to stop existing U.S. offshore wind tasks from being advanced. Below are a few of...

U.S. investor Acadia Facilities Capital and companies consisting of Microsoft are seeking to assist develop a $9 billion pipeline of renewable energy projects across the nation, the job lead told Reuters. Introducing the Environment and Communities Financial Investment Union ( CCIC) with the innovation giant as an anchor member, Acadia Vice President Brian O'Callaghan stated it was likewise talking with business in sectors including retail and consumer goods. The CCIC's factor for being is to accelerate corporate-led renewable energy financing with real tangible benefits to regional neighborhoods, O'Callaghan stated, adding it was anticipated to assist build-out around 5 gigawatts of...

GE Vernova's offshore wind turbine making plant has actually fired or suspended numerous workers in Quebec after a business examination found they took shortcuts on quality assurance, sources familiar with the matter informed Reuters. GE Vernova launched the probe at the factory in Gaspe, Quebec, after one of the 107-meter long turbine blades it made shattered at the Vineyard Wind project off the coast of Massachusetts in July. Fragments of fiberglass cluttered the beaches and required the job to temporarily close down. GE Vernova owns the Gaspe plant through its LM Wind Power subsidiary. One source knowledgeable about the matter...

EDP Renovaveis, the world's fourthlargest wind energy producer, believes U.S. renewable energy legislation introduced under President Joe Biden will not face considerable cuts when Donald Trump is successful him in January, its CEO stated on Wednesday. The renewable energy sector experienced strong development throughout Trump's first presidency and lots of major tidy energy investments that have actually gained from Biden's Inflation Reduction Act (IRA). lie in Republican states, Miguel Stilwell d'Andrade stated. in a call with experts on Wednesday. Our company believe that the benefits these states have actually gotten under. the individual retirement account make it not likely the...

Mining financial investment conferences have a fantastic track record of pointing to the next development location for commodities, as they unite early phase investors and junior miners looking for to get jobs off the ground. A decade ago lithium was the popular metal, 5 years earlier it was the turn of gold and more just recently copper has been the flavour of the month at these occasions throughout Asia. However at the 121 Mining and Energy Financial investment conference this week in Singapore there was no clear option, and no real consensus on where the very best chances lie. If...

U.S. Treasury Secretary Janet Yellen stated on Thursday that U.S. public financial investments that attract personal capital are crucial to promote sustainable and inclusive growth over the long term, but warned that China's design of huge state industrial aids were undesirable to the world. Yellen said in prepared remarks to the Economic Club of New York that the standard Republican design of supply-side. economics relies too heavily on tax cuts to stimulate investment and. has failed to benefit sufficient workers. Yellen's speech to top organization executives and Wall Street. leaders marked a rebuttal of sorts to a discussion that. Republican...

Battery storage business Eku Energy aims to expand its international energy storage capacity to 9 gigawatthours by 2028 from about 1.3 GWh now, to assist speed up the energy shift and increase using renewables, the head of its Japanese unit said. Eku Energy, jointly owned by Macquarie Group's. green mutual fund and Canadian pension fund British Columbia. Investment Management, in April announced its very first task in. Japan to build a 30 megawatts/120 MWh battery energy storage. system in Miyazaki prefecture on the southern island of Kyushu. As resource-poor Japan broadens renewable resource to satisfy. decarbonisation objectives and enhance energy...

Alphabetowned Google will invest a more 1 billion euros ($ 1.1 billion). into the expansion of its data centre campus in Finland to drive. its artificial intelligence (AI) company growth in Europe, it. stated in a declaration on Monday. In recent years, numerous data centres have been found in the. Nordic nations because of the region's cooler environment, tax. breaks and plentiful availability of renewable power. Finland's Nordic neighbours Sweden and Norway have recently. grown progressively vital of hosting them, with some industry. professionals arguing the Nordic nations need to use their renewable. power for items such as green steel...

Japan's land and industry ministers designated Matsumae, and Hiyama areas, off the northern island Hokkaido as promotion zones for offshore wind auctions. The goal is to boost the country's goals of renewable energy. In a joint announcement, the Ministry of Land, Infrastructure, Transport and Tourism and the Ministry of Economy, Trade and Industry announced that the government would develop guidelines for using the zones and hold a public auction to select operators for energy project. The next auction date was not provided. By 2040, Japan wants to reach 45 gigawatts in offshore wind power, which will help reduce the country's...

China's MingYang Smart Energy , Italian energy firm Renexia and Italy's industry ministry have actually signed a contract to set up a wind turbine making plant, the ministry said on Thursday. The deal imagines a financial investment of around 500 million euros ($ 546 million), the ministry said in a declaration, without clarifying how the cost would be shared. The memorandum of understanding follows a statement last week that an Italian company specialising in photovoltaic plants and a Chinese maker of photovoltaic panel elements had actually formed an alliance. Regardless of the difficulty of shipping big turbines, MingYang and most...

China's thermal power generation fell on the year for a second straight month in June as hydropower generation rose, data from the National Bureau of Data showed on Monday. Thermal electrical energy, generated mostly by coal-fired capability, fell 7.4% in June after declining by 4.3% in May. However, thermal output still increased 1.7% over the first 6 months as a whole. Hydropower volumes rose 44.5% in June and 21.4% over the first six months. The pattern could put China on track for a year-on-year decrease in coal use for 2024 as a whole, if hydropower output remains strong, said David...

U.S. Treasury Secretary Janet Yellen stated on Thursday that U.S. public financial investments that attract private capital are crucial to promote sustainable and inclusive growth over the long term, but alerted that China's model of huge state industrial subsidies were inappropriate to the world. Yellen said in ready remarks to the Economic Club of New York that the conventional Republican design of supply-side. economics relies too heavily on tax cuts to spur financial investment and. has failed to benefit enough employees. Yellen's speech to top business executives and Wall Street. leaders marked a rebuttal of sorts to a presentation that....

Sumitomo Corp aims to install 500 megawatts (MW) or more of battery storage in Japan by March 2031, from 9 MW now, to assist reduce renewable energy fluctuations and enhance the efficiency of the energy system, a. company official stated. As resource-poor Japan broadens renewable resource to meet. decarbonisation objectives and improve energy security, battery usage. is expected to increase to ravel the periodic supply of. solar and wind energy. Sumitomo's battery storage initiative becomes part of the. Japanese trading house's more comprehensive efforts to strengthen its energy. change company. We aim to add to the stabilisation and. decarbonisation of...

JFE Holdings prepares to ramp up abroad investments as part of a longterm drive to double profits, Japan's No. 2 steelmaker stated on Tuesday, as it posted a 21.4% increase in annual net profit but likewise flagged a. smaller boost for this year. JFE President Yoshihisa Kitano, who took the helm on April. 1, said he would speed up the business's tactical shift from. quantity to quality, however did not offer a timeframe for doubling. its company earnings, other than stating it would take more than. 3-5 years. Enhancing abroad profits is necessary to our objective of. doubling revenues, he...

China's electrical energy usage increased by 209 billion kilowatthours, or 10%, in the first three months of 2024 compared with the same period in 2023, when the country was emerging from the exit wave of the coronavirus. Consumption development was focused in production (+112. billion kWh) as factories returned to normal operations after. widespread disturbances caused by lockdowns in 2022 and 2023. However there was also substantial development from services companies. ( +53 billion kWh), domestic users (+41 billion kWh) and. main markets such as farming and mining (+3 billion. kWh), according to the National Energy Administration. Chartbook: China electrical...

Denmark's Orsted , the world's most significant offshore wind farm designer, stated on Wednesday a task in Taiwan that will supply power for chipmaker TSMC is progressing well and is on track for completion next year. Orsted stated in March of in 2015 it had actually made a final investment decision to proceed with its planned 920 megawatt ( MW) Greater Changhua 2b and 4 overseas wind farms, which will primarily supply Taiwan Semiconductor Production Co (TSMC). , the world's biggest contract chipmaker. Orsted has not stated how much it is buying the task. We are advancing very well on...

Coal miner and power generator LEAG, owned by Czech energy company EPH, plans to construct gasfired power stations at four places in Germany as part of a federal government strategy to add more such plants, its CEO informed in an interview. We will certainly be associated with this, stated Thorsten Kramer. We have 4 power plant sites. We are getting all of them, he stated, describing Berlin's plans to tender capability in an auction system that is yet to be defined. Preparation for the websites, which would have a combined capacity of a minimum of 3 gigawatts (GW), has been...

The following are the top stories on business pages of British papers. has not confirmed these stories and does not attest their accuracy. The Times - China has targeted a group of senior politicians at Westminster as part of a new age of state-backed disturbance targeted at weakening British democracy. The Guardian - Sadiq Khan has actually vowed not to extend the scope of London's. ultra-low emission zone scheme if he goes back to the role after. May's election. The Telegraph - Wind farm owners are being investigated by the energy. watchdog for supposed market manipulation after they were implicated....

Ingka, which owns the majority of IKEA stores worldwide, is seeking its first sustainable investment opportunities in South Korea and Japan, with offshore wind the most appealing alternative, the head of its financial investment arm said. Ingka Investments has actually quickly become a significant owner of renewable energy possessions in Europe as a method to decarbonise its own company as well as its broader supply chain, Peter van der Poel, its managing director, told . We are still actively searching in Europe however we're likewise still looking, for example, in South Korea and in Japan, where we also have existence,...

The Japanese government has selected a consortium making up Japan Renewable resource, Iberdrola Renewables and Tohoku Electric Power as the wind power operator for an overseas block tendered in a second round of auctions, it said on Friday. The 375-megawatt (MW) wind farm is located off the coast of Happo-Noshiro in Akita prefecture in northern Japan and is part of Japan's efforts to grow its overseas wind market to 10 gigawatt (GW) by 2030, and up to 45 GW by 2040. Danish wind turbine maker Vestas will supply turbines for the Happo-Noshiro task that should be introduced in June 2029,...