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Spanish Oil Giant Now Spends More on Renewable Energy Than Oil Drilling

spanish oil giant now spends more on renewable energy than oil drilling

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Rural Electric Cooperatives on a Bumpy Road to Renewable Energy – Daily Yonder

rural electric cooperatives on a bumpy road to renewable energy – daily yonder

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When Kristen Taddonio paid her first electric bill at her new home in Grand County, Colorado, she automatically became a member and co-owner of the Mountain Parks Electric cooperative. Last year, she decided to run for a seat on the Mountain Parks board of directors. Her goal was to push her cooperative toward affordable and reliable renewable energy. As the former Director of Climate Choice at the Environmental Protection Agency, and a current senior advisor at the Institute for Governance and Sustainable Development, she was confident she had the knowledge and experience to help guide her co-op in the right direction.   

More than a year after she was elected, Taddonio has a new perspective on the obstacles that her cooperative and others like it face on their paths toward providing sustainable electricity. For Mountain Parks Electric, the barriers had little to do with the cost of renewable energy or member interest in transitioning to sustainable power.

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Instead, she discovered that Mountain Parks Electric and RECs across the country are trapped in decades-long contracts with Generation and Transmission Cooperatives (G&Ts). “What I found out, after getting on the board, was that the previous …

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Renewable energy developer ICE to raise funds of at least $200 million

renewable energy developer ice to raise funds of at least $200 million

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Renewable energy project developer InterContinental Energy (ICE) plans to raise funds of between $200 million and $300 million from financial and strategic investors in the sector, people with direct knowledge of the matter said on Friday.ICE has hired investment bank Morgan Stanley to launch the fundraising process, said the sources, who declined to be identified as the information is confidential.The company is targeting potential investors such as sovereign wealth funds, funds that focus on environment, social and governance factors (ESG) and oil and gas firms and aims to close the exercise in the first quarter next year, they said.Both ICE and Morgan Stanley declined to comment.Founded in 2014 by industry experts to develop large renewable energy projects supplying global markets, ICE has now assembled the world’s largest portfolio of green hydrogen projects, it says on its website.The company is leading the $36-billion Asian Renewable Energy Hub (AREH) project in Australia to initially build 15 GigaWatts of power capacity and eventually expand to 26 GW.It is developing the project together with renewables developer CWP Energy Asia, top global wind turbine maker Vestas and a Macquarie Group fund.ICE also plans projects in Africa and the Middle East, it says on …

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California not alone in clean energy push; red states help

california not alone in clean energy push; red states help

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The dramatic growth of clean energy over the past decade has brought surprises, including data showing Republican states outperforming California in some areas.California’s aggressive environmental policies have helped it lead the nation in the growth of solar energy and electric car sales, according to a new report by Environment California, “Renewables on the Rise 2020.”
But seven of the eight states that get the largest share of their electricity from solar and wind are politically red or purple, with California ranking ninth. Texas, Oklahoma and Iowa lead the way when it comes to wind-generated electricity alone.
“In a similar way that California incentivized rooftop solar, Texas put in place programs to incentivize wind,” said Environment California’s Elizabeth Nickerson, specifically citing policies that led to new transmission lines and good pricing. “Those two things combined allowed wind to compete with fossil fuels in Texas and other middle-of the-country states.”
The report documents the rapid growth in renewable energy from 2010 to 2019. Wind, solar and geothermal went from supplying 2.7% to 10% of the nation’s electricity during that stretch, with Kansas, Iowa and North Dakota now getting more than half their electricity from wind and sun. In 2010, virtually no electric vehicles were …

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Clean power investor boosts US royalty deal

clean power investor boosts us royalty deal

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Clean power investor Great Bay Renewables has closed an additional $25m royalty investment in Tri Global Energy’s portfolio of wind and solar projects in the US.
Great Bay Renewables said the follow-on investment in Tri Global is the first it has made following a recently announced joint venture between certain funds managed by affiliates of Apollo Global Management and Altius Minerals Corporation subsidiary Altius Renewable Royalties to accelerate the growth of Great Bay’s renewable energy royalty business.
The new investment in Tri Global is an extension of the current $30m royalty investment that Great Bay made in the company in early 2019, bringing the total royalty capital commitment to $55m.

As Tri Global develops and sells individual projects, Great Bay receives a gross revenue royalty on each project for the full life of the project.
Tri Global has sold nearly 1GW of renewable energy projects subject to the Great Bay royalty programme and currently has over 2.5GW in its development pipeline.
Great Bay president and chief executive Frank Getman said: “We are excited to provide this extension of our current royalty investment based on TGE’s continued success in selling projects and expanding its development portfolio.
“The Great Bay royalty capital is …

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Renewable energy developer ICE to raise funds of at least $200 mln, sources say

renewable energy developer ice to raise funds of at least $200 mln, sources say

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By Kane Wu2 Min ReadHONG KONG, Oct 30 (Reuters) – Renewable energy project developer InterContinental Energy (ICE) plans to raise funds of between $200 million and $300 million from financial and strategic investors in the sector, people with direct knowledge of the matter said on Friday.ICE has hired investment bank Morgan Stanley to launch the fundraising process, said the sources, who declined to be identified as the information is confidential.The company is targeting potential investors such as sovereign wealth funds, funds that focus on environment, social and governance factors (ESG) and oil and gas firms and aims to close the exercise in the first quarter next year, they said.Both ICE and Morgan Stanley declined to comment.Founded in 2014 by industry experts to develop large renewable energy projects supplying global markets, ICE has now assembled the world’s largest portfolio of green hydrogen projects, it says on its website.The company is leading the $36-billion Asian Renewable Energy Hub (AREH) project in Australia to initially build 15 GigaWatts of power capacity and eventually expand to 26 GW.It is developing the project together with renewables developer CWP Energy Asia, top global wind turbine maker Vestas and a Macquarie Group fund.ICE also plans …

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Great Bay Renewables Extends Additional Renewable Royalty Financing to Tri Global Energy

great bay renewables extends additional renewable royalty financing to tri global energy

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PORTSMOUTH, N.H. and DALLAS, Oct. 29, 2020 /PRNewswire/ — Great Bay Renewables, LLC (Great Bay) is pleased to announce that it has closed an additional $25 million royalty investment in Tri Global Energy’s (TGE) portfolio of wind and solar energy development projects located across the United States.This follow-on investment in TGE is the first investment made by Great Bay following the recently announced joint venture between certain funds managed by affiliates of Apollo Global Management, Inc. and Altius Minerals Corporation subsidiary Altius Renewable Royalties Corp. to accelerate the growth of Great Bay’s innovative renewable energy royalty business.The additional investment into TGE is an extension of the current $30 million royalty investment that Great Bay made in TGE in early 2019, bringing the total royalty capital commitment to $55 million.  As TGE develops and sells individual projects, Great Bay receives a gross revenue royalty on each project for the full life of the project.  To date, TGE has sold nearly 1 GW of renewable energy projects subject to the Great Bay royalty program and currently has over 2.5 GW in its development pipeline.Frank Getman, president and CEO of Great Bay, commented, “We are excited to provide this extension of our current royalty investment based on …

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Renewable energy sources produce more electricity than either coal or nuclear in almost 30 states, new EIA data reveals | pvbuzz.com

renewable energy sources produce more electricity than either coal or nuclear in almost 30 states, new eia data reveals | pvbuzz.com

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Washington DC – Renewable energy sources (i.e., biomass, geothermal, hydropower, solar, wind) generated more electricity than either coal or nuclear in nearly 30 states during the first two-thirds of this year, according to a SUN DAY Campaign analysis of just-released data from the U.S. Energy Information Administration (EIA).

The latest issue of EIA’s “Electric Power Monthly” (with data through August 31, 2020) reveals that utility-scale renewables provided more electricity than coal in 27 states and Washington, DC. [1] In addition, only a narrow gap exists between renewables and coal in three other states.[2] Four states and Washington DC have generated no electricity from coal at all this year [3] while four others have each produced less than 100 gigawatt-hours (GWh) from coal during the past eight months.[4]
Similarly, renewably-generated electricity outpaced nuclear power in 29 states plus Washington DC.[5] Of those, 21 states, as well as Washington DC, produced zero electricity using nuclear power this year.[6]
Notably, renewable energy sources generated more electricity than either coal or nuclear in three of the nation’s four largest states (i.e., California, New York, and Texas). The six New England states have become a nearly coal-free zone while four of the region’s states produced no electricity using nuclear …

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OUC’s renewable energy plan doesn’t go far enough | Commentary

ouc’s renewable energy plan doesn’t go far enough | commentary

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OUC’s plan to invest $30 million in energy efficiency and conservation also is important. OUC’s recent low-income energy efficiency efforts have been woefully inadequate, serving as few as six of its 250,000 customers a year. Energy efficiency is a critical component of any realistic green-energy plan, and must ensure all citizens benefit — not just those who can afford new homes, new appliances, electric cars, and private rooftop solar.

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