Royal Dutch Shell Plc and EDP Renovaveis SA agreed to sell power from a wind farm they’re building in the Atlantic Ocean for a record-low price. The 804-megawatt Mayflower wind farm, located south of Martha’s Vineyard, will supply electricity to utilities in Massachusetts for $58 a megawatt-hour over the life of the contract.
In an interview with CEFF, the Connecticut Green Bank unveiled its plans to bring to market approximately $15 to 20 million of new $1,000 face value “Green Liberty Bonds” around April 22, in recognition of the 50th anniversary of Earth Day. In a twist, the new bonds will be available not just to institutional investors but to retail investors throughout Connecticut and beyond.
The Alliance for Clean Energy New York says in a report that putting a price on carbon will help New York meet its aggressive goal of 70% of its electricity coming from wind, solar and other renewable sources by 2030.
Rival developer teams filed formal proposals with Connecticut regulators to build massive new wind farms off New England’s southern coast, with the state having mandated that 40% of its electricity be generated from renewable sources within a decade’s time.
Regulatory changes to the Securities Act in 2016 enabled crowdinvesting, an idea that can usher in a new era of inclusive project finance, ripe to transform the clean energy industry. We need to envision a democratized clean energy future, with renewable energy and climate solution projects originated and owned by the communities that use them.
A new player is entering the fold in New England’s burgeoning offshore wind sector. After years of testing the waters, Connecticut has finally jumped into the offshore wind game with a recently passed target of 2,000 megawatts by 2030. On June 4, the state legislature approved a bill establishing the offshore wind mandate, and Governor Ned Lamont signed the legislation later that same week.
The Department of Energy Resources released its report on "the necessity, benefits and costs" of pursuing an additional 1,600 megawatts of offshore wind power, which the Legislature last year authorized but did not mandate, and concluded that it would be a good bet for ratepayers, the environment and the economy.
This explainer is the third part of a series by Sara Harari and Nate Grady on how microgrids are being used to transform the electrical grid. As climate change becomes the new reality, policymakers must decide how to invest limited resources in advanced technology and infrastructure. At the heart of this challenge is the debate over adaptation versus mitigation: should we focus our efforts on avoiding the worst effects of climate change (i.e. reducing the amount of greenhouse gasses we release going forward), or should we divide our resources and invest simultaneously on adapting to the most likely effects of...
Vastly higher clean energy targets are essential to empower the international community to make the leap to a sustainable future, according to Richard Heinberg, coauthor of “Our Renewable Future: Laying the Path for One Hundred Percent Clean Energy.” In this interview, he delves into the practical challenges involved in the global transition to renewable power sources.