Energy Update
Despite the Environmental Protection Agency’s announcement that the Clean Power Plan is being repealed, the attractive cost of renewables and improvements in battery storage technology mean that wind- and solar-generated power are here to stay.
Last week, both houses of the U.S. congress passed versions of a tax reform bill. As readers might recall, tax reform was one of the platforms on which Trump ran for president and getting a major tax reform bill passed would be a big win for him. Each version of the bill has implications for the renewable energy industry but the wind industry is particularly worried about the House bill.
(Mon, 20 Nov 2017) Growth in economic activity (measured as gross domestic product) has tended historically to be coupled with increases in electricity use as populations grow and generate more goods and services. However, more recently this relationship has been decoupling in many countries.
Rosneft, Petrocas Energy and Motor Oil Hellas Corinth Refineries have inked a three-lateral agreement about intentions in the crude and oil product supply.
Nigerian National Petroleum (NNPC) and Chevron Nigeria (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
BayWa r.e. renewables subsidiary successfully commissioned its first project in Southern Africa, a combined solar PV plant and battery system in the Zambian province of Chisamba in October.
On November 13, utilities in Massachusetts announced that they would begin to accept bids pursuant to the new “Solar Massachusetts Renewable Target or SMART” program, which seeks to ultimately add up to 1,600 MW of solar capacity.
The call for grid modernization is occurring across the world and utilities are positioned at the forefront of this industry transformation. While some states and countries are moving at a more rapid pace than others, grid modernization is a necessary outcome for utilities to ensure long-term sustainability.
(Fri, 17 Nov 2017) Since 2013, six commercial nuclear reactors in the United States have shut down, and an additional eight reactors have announced plans to retire by 2025. The retirement process for nuclear power plants involves disposing of nuclear waste and decontaminating equipment and facilities to reduce residual radioactivity, making it much more expensive and time consuming than retiring other power plants.
Abu Dhabi National Oil Company (ADNOC), has signed a memorandum of understanding (MoU) with The Linde Group to explore the expansion of nitrogen facilities in Ruwais, Abu Dhabi, to meet future industrial demand.
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