Bad news for Gazprom: sources say that Russia is going to break the gas giant’s monopoly on LNG exports. “[State-controlled oil giant] Rosneft signed an agreeement with ExxonMobil to develop a LNG project in Russia’s Far East. [Independent gas producer] Novatek clinched a deal with CNPC for a joint development of the Yamal LNG project.” [Natural Gas Europe] Bad news for… Keep reading →
One of the biggest obstacles to connecting solar project developers with the investors that could provide them with financing comes down to communication, according to Haresh Patel, Chief Executive of Mercatus, which provides origination and syndication services for energy investors. The company has scored some big clients offering software that gives banks and other funding sources… Keep reading →
Energy companies love to brag about being the world’s largest, first or producing the most of something and the bragging is about to begin. The Shams 1 concentrated solar plant located in the UAE’s Western Region is currently the world’s largest, but not for long, as an enormous project in the US western desert is… Keep reading →
For 100 years, Americans have lived with what amounts to a corner store for electricity, but the smart grid means someone, somewhere, will start building Walmarts.
And the Sam Waltons of the power grid won’t wait for a regulatory invitation to start.
Steve Corneli, Senior Vice President, Policy and Strategy of NRG, challenged the experts gathered at GridWeek 2012 in Washington, DC last week to think of the smart grid as an interstate highway that will enable entire new forms of commerce. Keep reading →
Decarbonization of the US electric grid is an almost impossible task. But in the absence of climate legislation, the most effective carbon reductions might fall to electric power companies that burn a lot of the black stuff, rather than Congress.
NRG Energy has 7.3GW capacity in coal assets and 11.1GW in natural gas. But those figures are dramatically reversed in generation: 48TWh (66%) comes from coal and 14TWh (20%) from natural gas. The Princeton-based company could double those figures pending its $1.7 billion acquisition of GenOn, which would bring its fleet to 46GW and make it the largest independent power generation company in the US. Keep reading →
It’s not the whole answer but it’s an important step in the right direction.
That’s the take of America’s nascent offshore wind industry on the U.S. Senate Finance Committee’s recent approval of a plan to extend an investment tax credit on offshore wind installations by one year until the end of 2013. Keep reading →
NRG Energy said Sunday that it plans to acquire rival GenOn Energy in a $1.7 billion all-stock deal that would create the largest competitive power company in the U.S.
The combined company would have about 47,000 megawatts of power plants across the U.S. and have an enterprise value of $18 billion, the companies said. NRG President and Chief Executive David Crane will maintain his current positions at the combined company. GenOn Chairman and CEO Edward R. Muller will join the NRG board as vice chairman. Both companies had considered merger opportunities over the last few years as a way to cut costs and expand their footprints to better compete. Then, Mr. Muller said he contacted Mr. Crane this past spring to discuss a potential deal.
A developer hoping to build America’s first offshore wind farm is taking another look at its costs after reports attacked its plans as too expensive, technically unproven, and likely to have a negative effect on the local economy.
Fishermen’s Energy, a consortium of fishing companies, plans to build the wind farm in New Jersey waters three miles off the coast in a five-turbine pilot project that it hopes will pave the way for a bigger installation in federal waters farther offshore. Keep reading →
Interior Secretary Ken Salazar says he expects the leasing process for wind projects off the Atlantic coast, including a “pioneering” backbone transmission project, to go forward early in 2012.
Salazar also announced Tuesday approval of wind and solar projects in the Southwest, and Deputy Secretary David Hayes said Interior is on track to meet Congress’ 2015 target, of 10,000 MW of renewables on federal lands, three years early. Keep reading →
California has already been leading the country in solar developments as it races towards its goal of 30% renewable power by 2020.
On Monday, yet another solar plant was added to the mix in San Bernardino County. Spain’s Abengoa Solar announced that construction was in full force for its newest 280 MW CSP Mojave Solar project that just signed a power purchase agreement with PG&E. Keep reading →
