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Energy News

Wind Turbines Are Being Used to Grow Coral Reefs

Article Republished By Javier Troconis

With clean energy and regenerated reefs, this is a double whammy.

“To halt climate change and create a sustainable future for the planet, its ecosystems, and its people, we must speed up the transition from fossil fuels to renewables,” Mads Nipper, Group President and CEO of Ørsted, also explained, as per ITV. “Governments are preparing a significant expansion of offshore wind energy, and I’m confident that if done right, the offshore wind build-out can support and enhance ocean biodiversity.”

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Energy News

Hornblower Wins Federal Grant for Green Hydrogen Bunker Fueling Station in San Francisco

Article Republished By Javier Troconis

U.S.-based Hornblower Group has received an $8 million grant from the U.S. Department of Energy (DOE) to design, construct and operate a first-of-its-kind green hydrogen bunker fueling station for ferries and other maritime vessels in San Francisco.

The floating and moveable system will be the first of its kind in the world to produce green hydrogen through the use of hydroelectric power, demonstrating the use of zero-carbon hydroelectric energy in the electrolysis of water to produce green hydrogen for ferry and maritime vessels, as well as for growing land uses (such as hydrogen fuel cell vehicles). The system is also compatible with other zero-carbon sources of electricity, for example offshore wind.

Hornblower, through its subsidiary Hornblower Energy, has been working on the project since 2021. Project completion is anticipated for 2025 with fueling expected to be available in 2024 and thereafter.

Hydrogen-Powered Ferry Set to Launch in San Francisco Bay

The contract was awarded by the DOE’s Office of Energy Efficiency & Renewable Energy (EERE), Hydrogen and Fuel Cell Technologies Office in support of its [email protected] initiative for affordable hydrogen production, storage, distribution, and utilization.

“With Hornblower Group’s long-standing environmental record of developing ways and resources to implement green practices, I am incredibly proud of the work our team has put forward in leading this next phase of hydrogen fueled technology,” said Kevin Rabbitt, chief executive officer, Hornblower Group. “As we continue our efforts to position Hornblower as a Global Leader in Experiences and Transportation, this industry-first fueling station proves our commitment to investing in new and innovative technologies within the maritime industry and beyond.”

With this build, Hornblower will demonstrate the feasibility and viability of hydrogen production, storage, and fueling on the water, establishing robust science-based protocols, procedures, operating parameters, and attendant training materials for the safe and routine generation and storage of electrolyzed hydrogen and handling of water-to-water and water-to-land hydrogen and fuel-cell power transfer.

Hornblower over the last fifteen years has been at the forefront of implementing environmentally conscious, emissions-reducing solutions across a wide range of propulsion systems and energy inputs, including hybrid, hybrid-electric, all-electric, efficient engine, biofuels, and hydrogen.

“Hydrogen technology will very likely play an important role in zero-emission energy efforts for years to come, and while this new project is uncharted territory for the entire industry, Hornblower is dedicated to sustainable practices both on land and on the water,” said Cameron Clark, chief strategy and business development officer at Hornblower Group. “With a global fleet of more than 200 vessels with additional vehicle and bus operations, this new undertaking builds upon our broad category of results-oriented consultation and operational services and environmental engagement. We appreciate the leadership and support from the DOE in demonstrating and supporting promising green energy projects like ours.”

Public sector entities behind the project include Sandia National Laboratories and the Port of San Francisco, as well as Air Liquide, BayoTech Group, Nel Hydrogen, Inc. and Glosten in the private sector.

“The Port of San Francisco is excited to partner with Hornblower on this important project to demonstrate how new green technology will shape the future of the maritime industry,” said Elaine Forbes, Executive Director of the Port of San Francisco. “Promoting the use of hydrogen fuel to power the movement of people and goods, across our beloved Bay and waters far from our shores, will reduce our dependence on fossil fuels and a key tool to helping to fight climate change.”

“As the shipping industry navigates the transition from fossil fuels to zero-emission fuels, I’m confident hydrogen will play an essential role,” said Michael Koonce, BayoTech’s President. “We’re proud to support Hornblower in this groundbreaking project with our unique high-capacity, compact hydrogen storage modules.”

This project is seeking hydrogen production, storage and fueling capabilities of up to 530 kg of hydrogen per day.

An integrated system of green hydrogen production via water electrolysis and hydrogen power generation via fuel cell—both mounted on the floating station—will bring commercial hydrogen technology to the maritime industry. Hydrogen vessels currently under development and expected to be operating in San Francisco Bay—such as the Sea Change and Hornblower’s own Discover Zero—will benefit from a secure and affordable supply of green hydrogen.

The project will also leverage maritime users to stimulate a renewable maritime hydrogen ecosystem along San Francisco Bay, serving as a blueprint for safely establishing maritime station-based renewable power.

Hornblower’s environmental and technology accomplishments include establishing the first passenger maritime installation of Selective Catalytic Converters (SCR) to reduce nitrogen oxide (NOx) emissions in 2007, the first hybrid vessel(s) to incorporate multiple sources of renewable electric power including solar and wind in 2008, the country’s first all-electric ferry in conjunction with the Alabama Department of Transportation, the first all-electric passenger ferry system in the United States, and the design and delivery of newly constructed 350-passenger ferries for the NYC Ferry system with Tier 4 engines in April 2020.

Categories
Energy News

Hornblower Wins Federal Grant for Green Hydrogen Bunker Fueling Station in San Francisco

Article Republished By Javier Troconis

image

U.S.-based Hornblower Group has received an $8 million grant from the U.S. Department of Energy (DOE) to design, construct and operate a first-of-its-kind green hydrogen bunker fueling station for ferries and other maritime vessels in San Francisco.

The floating and moveable system will be the first of its kind in the world to produce green hydrogen through the use of hydroelectric power, demonstrating the use of zero-carbon hydroelectric energy in the electrolysis of water to produce green hydrogen for ferry and maritime vessels, as well as for growing land uses (such as hydrogen fuel cell vehicles). The system is also compatible with other zero-carbon sources of electricity, for example offshore wind.

Hornblower, through its subsidiary Hornblower Energy, has been working on the project since 2021. Project completion is anticipated for 2025 with fueling expected to be available in 2024 and thereafter.

Hydrogen-Powered Ferry Set to Launch in San Francisco Bay

The contract was awarded by the DOE’s Office of Energy Efficiency & Renewable Energy (EERE), Hydrogen and Fuel Cell Technologies Office in support of its [email protected] initiative for affordable hydrogen production, storage, distribution, and utilization.

“With Hornblower Group’s long-standing environmental record of developing ways and resources to implement green practices, I am incredibly proud of the work our team has put forward in leading this next phase of hydrogen fueled technology,” said Kevin Rabbitt, chief executive officer, Hornblower Group. “As we continue our efforts to position Hornblower as a Global Leader in Experiences and Transportation, this industry-first fueling station proves our commitment to investing in new and innovative technologies within the maritime industry and beyond.”

With this build, Hornblower will demonstrate the feasibility and viability of hydrogen production, storage, and fueling on the water, establishing robust science-based protocols, procedures, operating parameters, and attendant training materials for the safe and routine generation and storage of electrolyzed hydrogen and handling of water-to-water and water-to-land hydrogen and fuel-cell power transfer.

Hornblower over the last fifteen years has been at the forefront of implementing environmentally conscious, emissions-reducing solutions across a wide range of propulsion systems and energy inputs, including hybrid, hybrid-electric, all-electric, efficient engine, biofuels, and hydrogen.

“Hydrogen technology will very likely play an important role in zero-emission energy efforts for years to come, and while this new project is uncharted territory for the entire industry, Hornblower is dedicated to sustainable practices both on land and on the water,” said Cameron Clark, chief strategy and business development officer at Hornblower Group. “With a global fleet of more than 200 vessels with additional vehicle and bus operations, this new undertaking builds upon our broad category of results-oriented consultation and operational services and environmental engagement. We appreciate the leadership and support from the DOE in demonstrating and supporting promising green energy projects like ours.”

Public sector entities behind the project include Sandia National Laboratories and the Port of San Francisco, as well as Air Liquide, BayoTech Group, Nel Hydrogen, Inc. and Glosten in the private sector.

“The Port of San Francisco is excited to partner with Hornblower on this important project to demonstrate how new green technology will shape the future of the maritime industry,” said Elaine Forbes, Executive Director of the Port of San Francisco. “Promoting the use of hydrogen fuel to power the movement of people and goods, across our beloved Bay and waters far from our shores, will reduce our dependence on fossil fuels and a key tool to helping to fight climate change.”

“As the shipping industry navigates the transition from fossil fuels to zero-emission fuels, I’m confident hydrogen will play an essential role,” said Michael Koonce, BayoTech’s President. “We’re proud to support Hornblower in this groundbreaking project with our unique high-capacity, compact hydrogen storage modules.”

This project is seeking hydrogen production, storage and fueling capabilities of up to 530 kg of hydrogen per day.

An integrated system of green hydrogen production via water electrolysis and hydrogen power generation via fuel cell—both mounted on the floating station—will bring commercial hydrogen technology to the maritime industry. Hydrogen vessels currently under development and expected to be operating in San Francisco Bay—such as the Sea Change and Hornblower’s own Discover Zero—will benefit from a secure and affordable supply of green hydrogen.

The project will also leverage maritime users to stimulate a renewable maritime hydrogen ecosystem along San Francisco Bay, serving as a blueprint for safely establishing maritime station-based renewable power.

Hornblower’s environmental and technology accomplishments include establishing the first passenger maritime installation of Selective Catalytic Converters (SCR) to reduce nitrogen oxide (NOx) emissions in 2007, the first hybrid vessel(s) to incorporate multiple sources of renewable electric power including solar and wind in 2008, the country’s first all-electric ferry in conjunction with the Alabama Department of Transportation, the first all-electric passenger ferry system in the United States, and the design and delivery of newly constructed 350-passenger ferries for the NYC Ferry system with Tier 4 engines in April 2020.

Categories
Energy News

UN to catalyse commitments on energy

Article Republished By Javier Troconis

The action plan on energy commitments include facilitating and nudging nations toward doubling renewables globally, electricity for 500 million people and clean cooking for one billion New Energy Compact Action Network launches with coalitions drawing on $600 billion in commitments to support access and transition, starting with Nigeria, Santiago and others

New York: Against the backdrop of a global energy crisis and worsening climate emergency, the UN has taken a major step to catalyse the large-scale action and support needed for the transition to clean, affordable energy for all and net-zero emissions,

with the launch of a Plan of Action by some thirty leading organizations comprising “UN-Energy”.

In line with the milestones set out in the Global Roadmap, by 2025, UN-Energy committed to support, facilitate and catalyse, inter alia, 500 million more people to gain access to electricity, and 1 billion more people to gain access to clean cooking solutions, as well as a 100 per cent increase in renewables capacity globally, no new coal power plans in the pipeline after 2021, 30 million jobs in renewable energy and energy efficiency, and doubling annual clean energy investment globally.

Speaking of the interlinked triple crises of energy, food and finance arising from the war in Ukraine, UN Secretary-General António Guterres recently stated that “we can maximize this moment to push for the transformational change our world needs.” He added that “now is the time to turn this crisis into an opportunity,” to work towards progressively phasing out coal and other fossil fuels, and accelerating the deployment of renewable energy and a just energy transition, to address our worsening climate emergency.

An Energy Compact Action Network was also launched to match those governments seeking support for their clean energy goals with those governments and businesses that have pledged over $600 billion to support these commitments. Coalitions were announced to support energy access and transition in Nigeria and the city of Santiago, Chile, showcasing the Network’s potential, as well as to advance or expand coalitions supporting green hydrogen and a stronger role for women in leading and benefiting from the energy transition.

The UN-Energy Plan of Action Towards 2025 rolled out today sets out a framework for collective action by nearly thirty UN and international organizations — in order to achieve the massive pledge they made at the time of the High-level Dialogue. In line with the milestones set out in the Global Roadmap, by 2025, UN-Energy committed to support, facilitate and catalyse, inter alia, 500 million more people to gain access to electricity, and 1 billion more people to gain access to clean cooking solutions, as well as a 100 per cent increase in renewables capacity globally, no new coal power plans in the pipeline after 2021, 30 million jobs in renewable energy and energy efficiency, and doubling annual clean energy investment globally.

To tackle these large-scale challenges, the Plan identifies seven work areas: 1) scaling up collective UN-Energy action to close the energy access gap and ensure just, inclusive energy transitions that leave no one behind; 2) catalysing multi-stakeholder partnerships by scaling up Energy Compacts, including through the Action Network; 3) growing the momentum, by spearheading a global campaign for SDG 7 action; 4) leading by example, by greening UN-Energy organizations’ operations; 5) convening an annual Global SDG 7 Action Forum on the margins of the UN General Assembly High-level Week in September; 6) informing global agenda-setting by providing analytical inputs and policy guidance to key intergovernmental processes; and 7) leveraging the power of data, digitalisation and visualisation for strengthening monitoring, tracking, accountability and the communication of results.

The Plan acknowledges that UN-Energy must tap deep into the capacities of its member organizations and build on their activities and networks that will be essential to operationalise the agenda set out, and that UN-Energy organizations will need to mobilize transformative actions by a huge network of diverse stakeholders in order to achieve the level of impact required on the ground.

Sustainable Energy for All, UNDP and Husk Power Systems are among the partners who announced they are answering Nigeria’s call for support in achieving its Energy Compact commitment of bringing electricity to 25 million people by 2023, using solar home systems and mini-grids, ultimately electrifying 5 million homes, schools, hospitals and other public utilities and creating 250,000 new jobs. As part of their own Energy Compacts, SEforALL will support implementation of Nigeria’s Energy Transition plan, and UNDP has identified Nigeria as one of its partner countries for its offgrid lighting project, the Africa Mini-grid Programme. Husk Power Systems, extending its market-based support, will build on its six operational mini-grids in Nigeria with 24 more in 2022, 100 more by 2024 and 500 by 2026. Together these plans will accelerate the pace of delivery in Nigeria’s decentralized renewable energy sector, bringing electricity and livelihoods to millions.

Categories
Energy News

UN to catalyse commitments on energy

Article Republished By Javier Troconis

image

The action plan on energy commitments include facilitating and nudging nations toward doubling renewables globally, electricity for 500 million people and clean cooking for one billion New Energy Compact Action Network launches with coalitions drawing on $600 billion in commitments to support access and transition, starting with Nigeria, Santiago and others

New York: Against the backdrop of a global energy crisis and worsening climate emergency, the UN has taken a major step to catalyse the large-scale action and support needed for the transition to clean, affordable energy for all and net-zero emissions,

with the launch of a Plan of Action by some thirty leading organizations comprising “UN-Energy”.

In line with the milestones set out in the Global Roadmap, by 2025, UN-Energy committed to support, facilitate and catalyse, inter alia, 500 million more people to gain access to electricity, and 1 billion more people to gain access to clean cooking solutions, as well as a 100 per cent increase in renewables capacity globally, no new coal power plans in the pipeline after 2021, 30 million jobs in renewable energy and energy efficiency, and doubling annual clean energy investment globally.

Speaking of the interlinked triple crises of energy, food and finance arising from the war in Ukraine, UN Secretary-General António Guterres recently stated that “we can maximize this moment to push for the transformational change our world needs.” He added that “now is the time to turn this crisis into an opportunity,” to work towards progressively phasing out coal and other fossil fuels, and accelerating the deployment of renewable energy and a just energy transition, to address our worsening climate emergency.

An Energy Compact Action Network was also launched to match those governments seeking support for their clean energy goals with those governments and businesses that have pledged over $600 billion to support these commitments. Coalitions were announced to support energy access and transition in Nigeria and the city of Santiago, Chile, showcasing the Network’s potential, as well as to advance or expand coalitions supporting green hydrogen and a stronger role for women in leading and benefiting from the energy transition.

The UN-Energy Plan of Action Towards 2025 rolled out today sets out a framework for collective action by nearly thirty UN and international organizations — in order to achieve the massive pledge they made at the time of the High-level Dialogue. In line with the milestones set out in the Global Roadmap, by 2025, UN-Energy committed to support, facilitate and catalyse, inter alia, 500 million more people to gain access to electricity, and 1 billion more people to gain access to clean cooking solutions, as well as a 100 per cent increase in renewables capacity globally, no new coal power plans in the pipeline after 2021, 30 million jobs in renewable energy and energy efficiency, and doubling annual clean energy investment globally.

To tackle these large-scale challenges, the Plan identifies seven work areas: 1) scaling up collective UN-Energy action to close the energy access gap and ensure just, inclusive energy transitions that leave no one behind; 2) catalysing multi-stakeholder partnerships by scaling up Energy Compacts, including through the Action Network; 3) growing the momentum, by spearheading a global campaign for SDG 7 action; 4) leading by example, by greening UN-Energy organizations’ operations; 5) convening an annual Global SDG 7 Action Forum on the margins of the UN General Assembly High-level Week in September; 6) informing global agenda-setting by providing analytical inputs and policy guidance to key intergovernmental processes; and 7) leveraging the power of data, digitalisation and visualisation for strengthening monitoring, tracking, accountability and the communication of results.

The Plan acknowledges that UN-Energy must tap deep into the capacities of its member organizations and build on their activities and networks that will be essential to operationalise the agenda set out, and that UN-Energy organizations will need to mobilize transformative actions by a huge network of diverse stakeholders in order to achieve the level of impact required on the ground.

Sustainable Energy for All, UNDP and Husk Power Systems are among the partners who announced they are answering Nigeria’s call for support in achieving its Energy Compact commitment of bringing electricity to 25 million people by 2023, using solar home systems and mini-grids, ultimately electrifying 5 million homes, schools, hospitals and other public utilities and creating 250,000 new jobs. As part of their own Energy Compacts, SEforALL will support implementation of Nigeria’s Energy Transition plan, and UNDP has identified Nigeria as one of its partner countries for its offgrid lighting project, the Africa Mini-grid Programme. Husk Power Systems, extending its market-based support, will build on its six operational mini-grids in Nigeria with 24 more in 2022, 100 more by 2024 and 500 by 2026. Together these plans will accelerate the pace of delivery in Nigeria’s decentralized renewable energy sector, bringing electricity and livelihoods to millions.

Categories
Energy News

Blog: Sustainable Investing Explained

Article Republished By Javier Troconis

Do you care about social justice and the environment? Are you wondering how you can incorporate these values in the way you invest your money and your retirement savings? This is where sustainable investing comes in. It allows you to invest in a way that aligns with your beliefs and core values. It’s something more people are starting to think about. In this blog, we are going to explore sustainable investing in depth, including the 3 most popular sustainable investing strategies.

Sustainable investing/ESG investing defined

Sustainable investing involves incorporating environmental, social and corporate governance (ESG) criteria into one’s investment or retirement savings portfolio. Let’s say you don’t like private prisons and gun violence, and you like companies that give a fair wage to their employees and are serious about lowering their carbon footprint. Sustainable investing is a way to reflect these values into how you invest your money. It is also a great way to diversify your portfolio.

Is sustainable investing the same as ESG?

They are slightly different but the main concept for both is that you try to make money while supporting companies that do good. The main difference between ESG and sustainability investing is that ESG sets a specific criteria to define the environmental, social, and governance systems as sustainable. Many people use sustainable investing, ESG, Socially Responsible Investing (SRI), ethical, and green investing interchangeably. How each strategy is executed may be slightly different but the overall concept is the same.

How hard is it to add sustainable investments to my portfolio?

Historically, it was no easy task to add sustainable investments to your portfolio. The fees were high, there weren’t many ESG funds, and 401(k)s didn’t offer them. This has now changed and it’s much easier to diversify your portfolio and add sustainable investments. Now, let’s examine how well you can make money when you do ESG or SRI investing.

Socially Responsible Investing Performance: Is sustainable investing profitable?

Sustainable investing has come a long way in recent years. Let’s look at several high-profile studies from the past few years to determine if sustainable investing is profitable.

In a 2019 study conducted by the Morgan Stanley Institute for Sustainable Investing (Sustainable Reality: Analyzing Risk and Returns of Sustainable Funds), the data showed that there is no financial trade-off in the returns of sustainable funds compared to traditional funds. Morgan Stanley analyzed the return and risk performance of ESG-focused mutual and exchange-traded funds (ETFs) against traditional counterparts from 2004 to 2018.

In 2015, Oxford University and Arabesque Partners released a meta-study (From the Stockholder to the Stakeholder: How Sustainability Can Drive Financial Outperformance) which looked at more than 200 sources, including academic studies, industry reports, newspaper articles and books. Their study showed that “88 percent of reviewed sources find that companies with robust sustainability practices demonstrate better operational performance, which ultimately translates into cash flows.” Furthermore, “80 percent of the reviewed studies demonstrate that prudent sustainability practices have a positive influence on investment performance.”

In 2020, the NYU Stern Center for Sustainable Business released a comprehensive ESG report that analyzed 1,000+ meta-studies on corporate financial performance and investment performance, published between 2015-2020. Uncovering the Relationship by Aggregating 1,000 Plus Studies Published between 2015-2020. This meta-study found a positive correlation between ESG and corporate financial performance. 59 percent of ESG stock portfolios showed similar or better performance relative to conventional investment approaches while only 14 percent found negative results.

From these studies, we can see how there’s ample evidence saying that sustainable investing can at least perform as well as traditional funds, and in some cases perform even better.

How do you do sustainable investing? 3 popular sustainable investing strategies.

1. Green ETFs

One popular sustainable investing strategy is investing in “green” ETFs. Green ETFs invest in companies that support environmentally-friendly businesses. Basically you are investing in companies that are good for the environment. Green ETFs are generally categorized as broad clean energy, wind or solar. There is no single definition for the word “green” so it is up to the investor to determine if the fund’s values align with their own.

The only problem with these green ETFs is that you are investing in a field that is highly competitive and technology is rapidly changing. Many of the green investments also involve newer and smaller companies. This means that a solar or wind company that’s popular now may no longer be in operation 10 years from now.

2. Sustainability Index Funds:

Another popular sustainable investing strategy is investing in sustainability index funds. These Sustainability Index Funds are index funds that will only include companies that have been screened for certain environmental, social, and corporate governance (ESG) criteria. Examples of criteria include if they are generating water pollution or causing deforestation. These will count against the company. If they have good labor standards then it’s a plus.

Sustainability index funds exclude “sin” stocks – like adult entertainment, alcohol, tobacco, weapons, fossil fuels, gambling, and nuclear power.

Sustainability Index Funds will contain more companies across various industries, which means that it’s more diversified. A clean energy ETF might contain 80 stocks compared to a sustainability index fund which might contain 1,500 stocks.

If you are interested in sustainability index funds,Fidelity has 2 “sustainability” stock index funds and 1 sustainability bond index fund. Vanguard has 2 “ESG” stock ETFs and 1 ESG mutual fund. Northern Trust also has sustainability stock funds that can be purchased in Fidelity or any other brokerage.

In your 401(k) investment lineup you can look for the word “sustainable.” If you find a fund that says “U.S. Sustainability Index,” then that’s likely invested in U.S. large companies that have good ESG ratings. In my experience, it’s not that common to have Sustainable funds in 401(k)s.

Sustainability Index Funds are index funds which means that you’re paying lower fees. Lower fees mean that you get to keep more of your money. If you like to know more about why index funds are great, check out our blog on Fidelity index funds for beginners.

3. Actively managed funds

Actively managed funds pick socially responsible companies that have attractive valuations and higher potential returns. These funds use a manager, or a team of managers, to pick “green” companies that they think will outperform the market. This can appeal to some people. However, one of the negatives of actively managed funds is that it’s an active fund. This means that you are probably going to pay more in fees.

How to get started with ESG investing

ESG investing doesn’t need to be complicated. Sustainable investment opportunities continue to grow as companies make more ethically conscious decisions. You need to think about what you will and won’t support and what industries you want to focus on.

While it is possible to start a sustainable investment portfolio on your own, it will take a lot of time and work. Working with a fiduciary financial advisor will mean that you will have access to more investment opportunities without the need to do all of the research yourself. They will also help you determine your risk tolerance, and your long and short term goals.

Want to create a sustainable investment portfolio?

ESG investing can help put your capital to work and positively contribute to a better world and a more sustainable future. We would love to know if you are currently doing sustainable investing or if it’s something you are thinking about. If you want help with your finances and are interested in having a comprehensive financial plan, feel free to schedule a discovery call with one of our financial advisors today!

MCM disclaimer for blogger content

Categories
Energy News

BOEM Approves Environmental Assessment for Humboldt Wind Area

Article Republished By Javier Troconis

humboldt
Humboldt Wind Energy Area, black outline (BOEM)

Published
May 5, 2022 2:30 PM by


The Maritime Executive

The U.S. Bureau of Ocean Energy Management (BOEM) has finished its environmental review for future offshore wind farm development in the Humboldt Wind Energy Area, a 130,000-acre parcel located 20 miles off northern California. It has issued a finding of no significant impact, allowing the process towards a lease sale to move foward. 

“The completion of this environmental assessment represents an important step forward for ensuring that any future renewable energy development – should a lease sale occur – is done in a responsible manner,” said BOEM Director Amanda Lefton. “Working closely with Tribes, state and federal partners and key stakeholders, BOEM remains focused on ensuring that such development is done in a way that avoids or reduces potential impacts to the environment and other ocean users in the region.”

If developed, the Humbold offshore wind area could generate up to 1.6 gigawatts of green energy for California’s grid, enough for about 560,000 homes. It would be among the first full-size commercial offshore wind lease areas on the West Coast, and would contribute about five percent of the Biden administration’s target of 30 GW of U.S. offshore wind capacity by 2030. Due to water depth, it would have to rely on new floating offshore wind technology, with moored floating platforms supporting each turbine. 

The environmental assessment is a preliminary step taken before site evaluation activities like surveys, core samples and met buoy placements. In addition to environmental impacts of these activities, it looks at the effects of project easements from each potential lease and any needed right-of-way grants for subsea cable corridors.

The next step in the process would be to move to a lease auction, followed by filing of a construction and operations plan (COP) by the successful bidder(s). In the COP review stage, the impact of each project is considered pursuant to the National Environmental Policy Act (NEPA), a process better known as an environmental impact statement (EIS) review. The public-engagement portion of the process is usually most pronounced during this later stage, when there is a specific project to discuss (and specific disputes are aired). 

Northern California’s fishing community has expressed concern about the development of large-scale floating offshore wind farms off Humboldt Bay. Local fishermens’ advocates note that floating platforms are new and little-tested, and the effects on fish behavior and fishery health are not yet fully known. Noise from installation, vibration from turbines, and electromagnetic emissions from underwater cables could have effects on fishery health, some fishing groups warn – even outside of the wind lease area itself. In the past, BOEM has held discussions with coastal states about potentially compensating fishermen for possible economic harm from wind farm development in historical fishing areas. 

Categories
Energy News

Consumers Energy – A Force For You: Updated Clean Energy

Article Republished By Javier Troconis

image

In April, Consumers Energy and key stakeholders throughout Michigan have agreed on a settlement related to the company’s Clean Energy Plan, a sweeping proposal to stop using coal as a fuel source for electric generation by 2025, making the company one of the first in the nation to go coal-free.

Consumers Energy’s updated Clean Energy Plan includes:

  • Protecting the Planet: We’ll be one of the first energy providers in the nation to stop using coal. We’ll be coal free by 2025, and with more solar energy, battery storage, and energy efficiency – we’ll be able to deliver clean and reliable energy to all of our customers across Northern Michigan and around the Lower Peninsula.
  • Saving Customers Money: Our updated Clean Energy Plan creates price stability and helps customers save an estimated $600 million dollars through 2040. Consumers Energy would also continue its successful energy waste reduction programs that have saved customers more than $4 billion since 2009. In addition, the company has committed to continue to fund utility bill assistance programs for low-income customers.
  • It’s not just Clean Energy but it’s Reliable Energy, too: To help bridge the gap from closing our coal plants to building 8,000 MW of Solar by 2040, we plan to purchase the Covert Generating Station in Van Buren County, a natural gas-fired power plant. This will help ensure we continue to provide reliable energy to all of our customers.

To learn more about the plan, click here.

Categories
Energy News

Consumers Energy – A Force For You: Updated Clean Energy

Article Republished By Javier Troconis

In April, Consumers Energy and key stakeholders throughout Michigan have agreed on a settlement related to the company’s Clean Energy Plan, a sweeping proposal to stop using coal as a fuel source for electric generation by 2025, making the company one of the first in the nation to go coal-free.

Consumers Energy’s updated Clean Energy Plan includes:

  • Protecting the Planet: We’ll be one of the first energy providers in the nation to stop using coal. We’ll be coal free by 2025, and with more solar energy, battery storage, and energy efficiency – we’ll be able to deliver clean and reliable energy to all of our customers across Northern Michigan and around the Lower Peninsula.
  • Saving Customers Money: Our updated Clean Energy Plan creates price stability and helps customers save an estimated $600 million dollars through 2040. Consumers Energy would also continue its successful energy waste reduction programs that have saved customers more than $4 billion since 2009. In addition, the company has committed to continue to fund utility bill assistance programs for low-income customers.
  • It’s not just Clean Energy but it’s Reliable Energy, too: To help bridge the gap from closing our coal plants to building 8,000 MW of Solar by 2040, we plan to purchase the Covert Generating Station in Van Buren County, a natural gas-fired power plant. This will help ensure we continue to provide reliable energy to all of our customers.

To learn more about the plan, click here.

Categories
Energy News

Serbia to get Europe's largest agro-solar plant

Article Republished By Javier Troconis

image

Fintel Energija and MK Group have signed a memorandum of understanding with the Chinese company PowerChina on the joint Agrosolar project in Kula, an investment worth €340mn, MK Group said in a press release on May 4. 

According to MK Group, the project, which uses solar energy and at the same time enables sustainable agricultural production under solar panels, is the first of its type in the Balkans and the largest in Europe. 

“By signing this agreement, we have defined a clear interest of both sides to take part in the largest agro-solar project in Europe. A particularly important step is the construction of a pilot solar park of 50 kilowatts, which will begin in the next three months,” the press release said.

The Agrosolar project will cover 770 hectares in the municipality of Kula. The solar power plant will have a capacity of 660 megawatts, and the planned annual production of green energy is about 832 gigawatt hours, which meets the needs of about 200,000 households.

“In this way, we continue to contribute to the goal of Serbia to increase the share of energy from renewable sources to at least 40% by 2040,” said Tiziano Giovannetti, CEO of Fintel Energy.

Andrija Vukovic, CFO of MK Group, said that Agrosolar “brings great innovation through the synergy of green energy and sustainable agriculture”.

According to Vukovic, a green hydrogen production plant will be built in the second phase of the project. “Apart from green hydrogen, this technology will also enable the daily production of 300 tons of urea mineral fertiliser, obtained in a completely sustainable way,” said Vukovic.

The Chinese company PowerChina is one of the largest construction companies in the world in the infrastructure and energy sector. “We look forward to working on the project and the common goal of developing renewable energy in Serbia and contributing to carbon neutrality,” said Yang Bo, PowerChina’s representative in Serbia.

In 2015, Fintel Enragia and MK Group opened the Kula wind farm, with a total installed capacity of 9.9 MW, and a year later another La Piccolina, with an installed capacity of 6.6 MW. With the launch of the wind farm Kosava in Izbiste in 2019, with an installed capacity of 69 MW, 45,000 inhabitants use green electricity.