World’s largest renewable energy developer? SunEdison on track for this title
SunEdison To Be World’s Largest Renewable Energy Developer http://www.energymatters.com.au/renewable-news/sunedison-first-wind-em4596/ November 19, 2014 SunEdison, Inc. (NYSE: SUNE) and TerraForm Power, Inc. (Nasdaq: TERP) have announced the signing of a USD $2.4 billion agreement to acquire First Wind, one of the USA’s leading developers, owners and operators of wind farms.
SunEdison says it will purchase over 1.6 GW of First Wind pipeline and backlog projects for Terraform Power, which are expected to be operational in 2016-2017. Also included in the transaction is an additional 6.4 GW of project development opportunities.
SunEdison’s portion of the total transaction is $1.5 billion, with Terraform Power acquiring First Wind’s operating portfolio for an enterprise value of $862 million. TerraForm Power is a yieldco* that is majority owned by SunEdison.
“The acquisition of First Wind transforms both SunEdison and TerraForm Power into diversified renewable energy companies and will make SunEdison the leading renewable power plant developer in the world,” said Ahmad Chatila, President and Chief Executive Officer of SunEdison.
First Wind is understandably quite chuffed about the acquisition as well.
“We are excited to become part of the SunEdison team,” said Paul Gaynor, Chief Executive Officer of First Wind. “This new strategic organization will allow us to join with SunEdison to develop and invest in new, long-term-contracted, well-sited and well-run renewable energy projects that deliver clean energy to homes and businesses across the country and internationally.”
Announcements of major milestones, projects, deals and technology advancements from SunEdison have rapidly flowed in 2014. Just since the beginning of October this year, SunEdison has announced:
- new polysilicon technology.
- zero white space solar panels.
- its Renewable Operations Center portfolio surpassing 3 gigawatts.
- a joint venture in China.
- several major solar projects in California.
- signing of an MoU to develop 5GW of solar projects in India.
- the closing of $130 million in financing for one of the largest solar power plants in Latin America.
- awarded 150 megawatts of solar projects in Karnataka India .
- completed 3 more school installations in California.
- a partnership to develop up to 300 megawatts of utility scale solar in the Philippines.
SunEdison has solar installations, manufacturing plants, and 39 offices located throughout North America, Europe and Asia
* A yieldco is a publicly traded company formed to own operating assets that produce a predictable cash flow.
Source: SunEdison
Brazil becoming world’s top market for biopower
Biopower, also known as biomass power or bioenergy, is the use of any organic material to generate electricity. The U.S. has long been the global leader, but the report suggests outdated infrastructure and a bloated existing capacity that has saturated the market will lead to Americans being overtaken in four years’ time……http://www.ibtimes.com/brazil-overtake-us-leading-market-renewable-energy-metric-1724500
Denmark’s challenge: aiming for 100% reneweable energy by 2050
Denmark Aims for 100 Percent Renewable Energy, Justin Gillis, NYT, NOV. 10, 2014 COPENHAGEN — Denmark, a tiny country on the northern fringe of Europe, is pursuing the world’s most ambitious policy against climate change. It aims to end the burning of fossil fuels in any form by 2050 — not just in electricity production, as some other countries hope to do, but in transportation as well.
Now a question is coming into focus: Can Denmark keep the lights on as it chases that lofty goal?
Lest anyone consider such a sweeping transition to be impossible in principle, the Danes beg to differ. They essentially invented the modern wind-power industry, and have pursued it more avidly than any country. They are above 40 percent renewable power on their electric grid, aiming toward 50 percent by 2020. The political consensus here to keep pushing is all but unanimous……….
The trouble, if it can be called that, is that renewable power sources like wind and solar cost nothing to run, once installed. That is potentially a huge benefit in the long run………
Throughout Europe, governments have come to the realization that electricity markets are going to have to be redesigned for the new age, but they are not pursuing this task with urgency. ……..http://www.nytimes.com/2014/11/11/science/earth/denmark-aims-for-100-percent-renewable-energy.html?_r=0
India to invest $100 billion in renewable energy
India Eyes $100 Billion Investment In Renewable Energy Clean Technica, November 9th, 2014 by Smiti Mittal The new Indian government is taking serious initiatives to boost the power sector, which is in dire need of financial and structural reforms. A large number of these reforms will be implemented in the renewable energy sector.
India’s minister for coal, power, and renewable energy last week announced that his government would push for an unprecedented $100 billion investment in the renewable energy sector over the next few years. With this plan, he also announced seemingly impossible solar energy capacity addition targets for the next five years………http://cleantechnica.com/2014/11/09/india-eyes-100-billion-investment-renewable-energy/
Renewable energy threatened as US Republicans take over in the Senate
Republican wins in the US Senate bode ill for renewable energy, PV Magazine 05. NOVEMBER 2014 | BY: CHRISTIAN ROSELUNDRepublican control of both houses of the U.S. legislature is expected to lead to renewed attacks on clean energy policies and environmental law in general. However, this may not effect the course of key policies by U.S. President Barak Obama. In Tuesday’s election, the Republican Party gained at least seven seats in the U.S. Senate to bring it to a majority position. The party also increased its majority in the U.S. House of Representative, giving it control of both houses of the U.S. legislature.
While this new political landscape will have an impact on energy legislation, environmental groups have pointed out that it may not have as large an impact on clean energy policies, many of which are being pursued directly by the Obama Administration without congress.
A key area of concern for the solar industry has been the 30% solar investment tax credit (ITC), which is set to reduce at the end of 2016. The Solar Energy Industries Association (SEIA) announced an effort to extend the ITC at the Solar Power International trade show in Las Vegas in October, and Friends of the Earth (FOE) says that this changing landscape complicates that task.
“Obviously formerly Majority Leader (Harry) Reed was very supportive of tax credits for renewable energy,” FOE Climate and Energy Program Director Benjamin Schreiber told pv magazine. “I don’t think this is a death knell for the ITC, but it makes it more difficult for sure.”
Schreiber notes that past extensions of renewable energy tax credits were part of bundled changes to the tax code, which makes it harder to read any individual politician’s support for specific policies. However, he also notes that many House Republicans have been vocal in their opposition to renewable energy subsidies………
“Anything that Congress is going to do to undermine that rule from moving forward is going to have to be signed off on by the president,” explains Schreiber. He describes past efforts to derail the policy as “political theater”.
Additionally, a Republican majority in the Senate gives the party greater control over budget issues, and Schreiber expects them to use this to reduce funding for clean energy programs both at the Department of Energy and the Department of Defense.
Perhaps the greatest concern is that a Republican majority will further tilt the playing field against renewables by increasing support for fossil fuel production. …….
USA MidWest can get 40% or more of its electricity from wind and solar energy
40% Renewable Energy Integration No Trouble For Midwest Clean Technica November 7th, 2014 by Joshua S Hill A new study conducted by the Minnesota Department of Commerce in coordination with the Midwest regional independent grid operator Mid-continent Independent System Operator (MISO) has found that the state of Minnesota could obtain 40% or more of its electricity from wind and solar energy without suffering any grid reliability issues.
The report, which builds on real-world situations like the states of Iowa and South Dakota generating more than 25% of their energy from wind during 2013, is another splash of cold water in the faces of those who attempt to dismiss renewable energy as being somehow impractical.
Minnesota currently derives 16% of its electricity from wind and solar energy, which means an increase to 40% would not only be a boost to the renewable energy industry, but would push the state towards 70% of its emissions reductions required from existing power plants under the EPA’s Clean Power Plan.
The primary finding from the report (PDF) is that “the addition of wind and solar (variable renewable) generation to supply 40 percent of Minnesota’s annual electric retail sales can be reliably accommodated by the electric power system.”
The American Wind Energy Association (AWEA) made the following statement in the wake of the report:……. http://cleantechnica.com/2014/11/07/renewable-energy-integration-trouble-midwest/
Developments towards India’s first offshore wind project
MOU signed for the first ever Indian offshore wind project, Renewable Energy Magazine Robin WhitlockThursday, 06 November 2014 A Memorandum of Understanding (MOU) has been signed to establish a Joint Venture Company for India’s first demonstration offshore wind power project along the Gujarat coast…….Prime Minister Shri Narendra Modi’s message in the US was loud and clear that renewable energy is the way to go, it dovetails world’s concerns about climate change and it clearly enhances India’s energy security. Considering the country’s 7600 km long coastal line , Shri Goyal added that the opportunities for scaling up are humongous. The Minister also suggested for building partnership with Defence, Coast guard and Shipping to ensure seamless and time bound approval process…….Onshore wind power development is the fastest growing renewable energy option in India and has now reached a commercial stage with more than 22 GW of installed cap acity supported by funding from private investment. The country has around 7,600 kilometres of coastline, offering a huge potential for offshore wind power development. To this end, the Ministry has now taken the initiative by announcing a Draft National Offshore Wind Energy Policy as well as preparing a Draft Cabinet note on National Offshore Wind Energy Policy which will be circulated for inter-ministerial comments.http://www.renewableenergymagazine.com/article/mou-signed-for-the-first-ever-indian-20141106
Saudi Arabia to learn from Canadian renewable energy success story
renewable sources generate up to 65 percent of Canada’s electricity. Solar and wind are the country’s two fastest growing sources.According to him, Solar photovoltaic capacity reached 1,210 megawatts of cumulative installed capacity in 2013. The Canadian Solar Industry Association forecasts that annual capacity will increase three folds by 2025. By then, the Canadian solar industry will support more than 35,000 jobs, displacing 15 to 31 million tons of greenhouse gas emissions per year.
Canada has two of the largest solar farms in the world
Saudi Arabia, Canada to hold renewable energy seminar http://www.arabnews.com/economy/news/651686 29 Oct 14, A Canadian trade delegation, headed by Canada’s Deputy Minister of International Trade Simon Kennedy arrived in Saudi Arabia on Monday to meet several Saudi officials and major firms with a special focus on renewable energy in Saudi Arabia.
Canadian Ambassador Thomas MacDonald said Canada’s first renewable energy mission, which is focused on solar technology, will visit the King Abdullah City for Atomic and Renewable Energy (KACARE), the Saudi Electricity Company (SEC), ACWA Power and other industry leaders. Continue reading
Nanyang Technological University Singapore leads te way with a hybrid micro grid for renewable energy
NTU to build region’s first renewable energy integration demonstration micro-grid Phys Org 29 Oct 14 Nanyang Technological University Singapore (NTU Singapore) will be building a hybrid micro-grid which will integrate multiple large-scale renewable energy sources. The first in the region, the hybrid micro-grid will test and demonstrate the integration of solar, wind, tidal-current, diesel, storage and power-to-gas technologies, and ensure these energy sources operate well together.
To be built under the new Renewable Energy Integration Demonstrator- Singapore (REIDS) initiative, the hybrid micro-grid will be located offshore at Semakau Landfill and is expected to produce power in the megawatt (MW) range, which will be suitable for small islands, isolated villages, and emergency power supplies. This will be able to power around 250 HDB 4-room apartments, which together consume a peak of 1 MW.
This initiative is supported by the Singapore Economic Development Board (EDB), and the National Environment Agency (NEA). The S$8 million initial micro-grid infrastructure will also facilitate the development and commercialisation of energy technologies suited for tropical conditions to be developed by NTU Singapore together with 10 world leading companies…….http://phys.org/news/2014-10-ntu-region-renewable-energy-micro-grid.html
European Union heading to meet its 2020 renewable energy targets
EU on track to meet 2020 renewable energy targets, Hydroworld, BRUSSELS 10/28/2014 By Michael Harris Online Editor Greenhouse gas emissions within the European Union fell by almost 2% between 2012 and 2013, putting the EU close to its 2020 reduction target, according to data released this week by the European Environment Agency.
“According to latest estimates, EU greenhouse gas emissions in 2013 fell by 1.8% compared to 2012 and reached the lowest levels since 1990,” an EU statement said. “So not only is the EU well on track to reach the 2020 target, it is also well on track to overachieve it.”
Hydroelectric power has been an integral component of the EU’s efforts in cutting its greenhouse gas emissions and producing 20% of its power with renewable sources.
The EEA’s analysis of member states’ own projections show the EU is likely to cut its greenhouse gas emissions by at least 21% of 1990 levels by 2020, surpassing its 20% target. Meanwhile, the report shows 14% of the EU’s energy was generated by renewable sources in 2012, which is ahead of its projections to hit the 20% mark by the end of the decade.
“Our analysis shows that Europe is on track towards its 2020 targets,” EEA executive director Hans Bruyinickx said. “Even against the backdrop of economic recession in recent years, we can see that policies and measures are working and have played a key role in reaching this interim result.”…….The EU has said that it’s longer-term objectives include decarbonizing Europe’s greenhouse gas emissions by between 80% and 95% by 2050. http://www.hydroworld.com/articles/2014/10/eu-on-track-to-meet-2020-renewable-energy-targets.html
Germany’s new style decentralised energy industry
Germany embracing renewable energy Power production from renewables has tripled in Germany within the past decade, mostly from wind and solar. Yahoo News 29 Oct 14
“……..Last year, renewables accounted for 24 per cent of the country’s electricity.The German government introduced generous subsidies to kick-start the sector, amounting to 16 billion euros last year. But the government claims the program has already saved billions in fuel costs for the heavily import-reliant country.
“We have created new businesses worth 40 billion euros per year,” Ecologic Institute analyst Andreas Kraemer said.”We have created additional employment for up to 400,000 people. They all pay taxes, they all pay social security charges.”
German households and small business pay the largest share for the renewable turnaround.They pay around 29 euro cents per kilowatt hour and much of that goes towards a renewable energy surcharge.
Big industrial users are exempt from the surcharge and pay just 3.5 cents per kilowatt hour……..
A new-look energy market The energy turnaround has clouded the future for the dominant utility companies in Germany.Germany’s big four, Vattenfall, E.on, RWE and EnBW, have enjoyed an oligopoly driven by nuclear power and fossil fuels………
Investors look for exposure to renewables market The makeup of the German energy market already looks very different, with hundreds of companies and cooperatives being formed in a decentralised industry.
While banks, industry, and project developers own 40 per cent of renewable installations, farmers and private investors own half.A number of new investment vehicles have formed to take advantage of the new industry. Crowd funding start up Bettervest has financed 14 projects since its inception a year ago.
Company spokesman Julien Schroder-Gianoncelli said investors are attracted by the projects and the returns,\. “We are offering 5-10 per cent in interest, which is pretty good at the moment,” he said.
Ceramic Fuel Cells believes Germany’s regulations, incentives and market make it the place to be. Mr Obernitz said that, for the time being at least, there are no incentives available in Australia.
“I’m not sure if that is going to change,” he said.
“We would favour that because we have invented the technology in Australia, and it’s something that will change the world.”……… https://au.news.yahoo.com/vic/a/25372077/germanys-renewable-energy-incentives-and-regulations-attracting-australian-companies/
Wind power is beating nuclear power in UK
Wind farms outstrip nuclear power BBC News, By Roger Harrabin, 21 Oct 14 BBC environment analyst The UK’s wind farms generated more power than its nuclear power stations on Tuesday, the National Grid says.
The energy network operator said it was caused by a combination of high winds and faults in nuclear plants………Wind made up 14.2% of all generation and nuclear offered 13.2%.
It follows another milestone on Saturday, when wind generated a record amount of power – 6,372 MW, according to National Grid.
This formed nearly 20% of the the UK’s electricity, albeit at a time at the weekend when demand is relatively low………The government is offering more generous subsidies to nuclear than wind in the long term.
But Jennifer Webber, a spokeswoman for RenewableUK, the trade body, said: “Wind power is often used as a convenient whipping boy by political opponents and vested interests.
“All the while, it’s been quietly powering millions of homes across the UK and providing a robust response to its vocal detractors.” http://www.bbc.com/news/business-29715796
As UK’s nuclear energy gets billions of pounds subsidy, Europe’s citizen energy movement is growing
Citizens’ energy movement calls for support as nuclear gets billions of pounds subsidy http://www.foe.co.uk/blog/citizens-energy-movement-calls-support-nuclear-gets-billions-pounds-subsidy Susi Scherbarth 15 October 2014 Last week the European Commission gave the UK the green light to billions of pounds of subsidies for Hinkley nuclear power plant, and the European Parliament approved a Spanish oil baron, Miguel Arias Cañete, as the EU’s next climate and energy chief.
This hardly bodes well when EU leaders are due to agree climate and energy targets for the year 2030 at a summit next week.
But against this, Europe’s citizens energy movement is providing reasons for optimism. Continue reading
World Bank leader calls for development banks to mobilise climate funds
Development banks should mobilize climate funds: World Bank’s Kim BY VALERIE VOLCOVICI REPORTING BY VALERIE VOLCOVICI,; EDITING BY ROS KRASNY AND FRANCES KERRY) WASHINGTON Thu Oct 16 (Reuters) – The World Bank and other multilateral financeinstitutions should pool their resources to help developing countries combat and adapt to climate change, helping smooth the path to a global climate agreement in Paris next year, World Bank President Jim Yong Kim said on Thursday.
One important disagreement looming over the climate talks is how countries will reach an agreed target of raising $100 billion in annual funding for climate change projects in developing countries by 2020, Kim told the Reuters Global Climate Change Summit.
The World Bank, other multilateral organizations, climate funds and regional development banks can help mobilize money prior to the Paris talks to give developing countries confidence in the negotiating process, he said.
“We are doing everything we can to really make sure that issue doesn’t stop the proceedings,” Kim said.
“Can we take all of the money that is floating around out there, and put it together in a package that would make the developing countries feel a lot better about the available financing for tackling both mitigation and adaptation?”……….
Beyond the financing question, Kim said strong signs of an agreement between the United States and China on climate would set a “strong foundation” for the Paris meeting.
He added that a declaration by 74 countries and over 1,000 private companies announced at the U.N. Climate summit in September, in support of carbon pricing measures such asmarkets and taxes, could also bolster prospects for success in Paris.
Kim said the decision by China, the world’s biggest carbon emitter, to sign the declaration was a surprise to World Bank officials, and had raised the pressure on other countries……..http://www.reuters.com/article/2014/10/16/us-climatechange-summit-worldbank-idUSKCN0I52QK20141016
Wind and solar power developments Europe, Japan, USA, Canada
World: http://geoharvey.wordpress.com/ 17 Oct 14
¶ Wind power is blowing gas and coal-fired turbines out of business in the Nordic countries. Nordic wholesale forward power prices have almost halved since 2010 to little over €30 per MWh as capacity increases while demand stalls due to stagnant populations, low economic growth and improved efficiency. [AsiaOne]
¶ Japan’s utilities say they are being swamped by green power and the grid does not have enough capacity to cope with the rocketing levels of electricity from the growing crop of solar power plants. Yet the same utilities are pushing to restart the nation’s mothballed nuclear reactors. [The Japan Times]
¶ EU leaders are likely to agree a new decade of climate and energy policy next week despite the “legitimate concerns” of several nations, Europe’s climate boss said on Thursday. European Union leaders have set themselves a deadline of the end of October to agree on green energy goals for 2030 to follow on from 2020 policy. [Reuters UK]
¶ Business and political leaders around the world, most notably in the United States and China, are pressing for action to avert the potentially huge financial repercussions of climate change. But this year, the most vocal climate change sceptic in the Group of 20 leading industrialised nations is its current host, Australia. [Daily Mail]
¶ Orix Corp, a Tokyo-based finance and leasing company, will continue to pursue the development of its 800 MW solar PV pipeline in Japan, despite recent reports of some utilities restricting grid access for new solar projects. Half of the projects are already under development or in operation and the rest will proceed as planned. [pv magazine]
¶ Innergex Renewable Energy Inc has announced that the Mesgi’g Ugju’s’n Wind Farm, LP has obtained the government decree from the Quebec government for a 150 MW wind project located in the Gaspé Peninsula, in Quebec. This concludes the project’s environmental approval process so construction may begin. [Stockhouse]
¶ Sweden has called on the EU to adopt a greenhouse gas emission reduction target of 50% by 2030s, 10 percentage points higher than current proposals. The call from Stockholm’s new centre-left government comes less than a week before EU leaders are set to gather to discuss the bloc’s climate and energy strategy. [RTCC]
¶ Italian utility Enel is considering phasing out 23 “obsolete” thermal power plants in Italy in the near future, accounting for 11 GW or 43% of the company’s existing thermal generation capacity. The decommissioning procedure for nine plants has already started, Starace added, listing units with a combined capacity of 2.2 GW. [ICIS]
¶ The UK’s National Audit Office has begun an investigation into the controversial subsidy regime for the planned new Hinkley Point C nuclear plant. The financial watchdog will be checking whether the guaranteed prices of £92 a megawatt hour – double the current cost of electricity – represented “value for money”. [The Guardian]
¶ Energy watchdog Ofgem has named five new potential interconnector projects that could link the UK with France, Ireland, Norway and Denmark. Together with the ElecLink and Nemo projects that Ofgem has already assessed, the schemes could provide up to 7.5 GW of additional electricity capacity in the UK. [reNews]
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