Please add the Governors' Wind Energy Coalition to your address book for uninterrupted delivery
View this email in a web browser.
Governors' Wind Energy Coalition

April 11, 2021

Top Story

Texas Wind Farm Denied Protection From Citi Over $113 Million Storm Bill

By Alexander Gladstone and Andrew Scurria, Wall Street Journal  •    •  Posted 2021-04-11 11:08:34

A New York judge refused to issue an injunction protecting a West Texas wind farm against the alleged risk of a takeover by Citigroup Inc. over a $113 million bill stemming from the winter storm that swept the state in February. Justice Robert R. Reed of the Supreme Court of New York ruled against Stephens Ranch Wind Energy LLC, which had sought to prohibit Citi from taking action against the wind farm based on its alleged default under a power-purchasing contract with the bank. [ read more … ]

Wind Energy

Wall Street and big tech team up to oppose Texas wind power bill

By Gregory Meyer, Financial Times  •    •  Posted 2021-04-11 11:09:07

An alliance of Wall Street and big tech is warning the Texas government against imposing new costs on renewable power plants as the blame game over the state’s winter blackouts intensifies. Companies ranging from Goldman Sachs and JPMorgan Chase to Amazon and Google, and including Warren Buffett’s Berkshire Hathaway Energy, are trying to head off new legislation they say would upend the economics of wind and solar power in the state. [ read more … ]

More than half of Iowa’s power now comes from wind, as state nears 6,000 turbines

By Donnelle Eller, Des Moines register  •    •  Posted 2021-04-11 11:08:14

The proportion of Iowa’s energy coming from wind surged to nearly 60% last year, the most in the nation, as a growing number of turbines came online, U.S. Energy Information Administration data show. Despite the global pandemic and recession, Iowa utilities and developers added about 540 turbines last year, pushing the total close to 5,900. [ read more … ]

US government agencies boosting offshore wind with financing, loan support

By Jared Anderson, S&P Global  •    •  Posted 2021-04-11 11:08:50

US federal tax regulators and Congress have been addressing offshore wind industry needs to make tax equity financing more efficient, while the Department of Energy revamps its loan program to make $3 billion available to help build the offshore wind industry. Tax equity investments have become popular in the US as a way to finance renewable energy projects, with $13 billion made in 2019, Scott Zimmermann, partner with law firm Wilson Sonsini Goodrich & Rosati, said during a webinar about offshore wind supply chain opportunities and challenges. [ read more … ]

Maine counties chafe at lower-than-expected payments from wind farms

By Bill Trotter, Bangor Daily News  •    •  Posted 2021-04-11 11:09:27

For nearly two decades, commercial wind farms have been touted in Maine as a way to generate electricity without pollution, and as a way rural locales in Maine can generate revenue for themselves by hosting turbines worth hundreds of millions of dollars. But several counties and towns are finding out they are getting less revenue out of the wind projects than they had expected when they were wooed in the 2000s and 2010s by developers looking to erect turbines several hundred feet tall along local remote, elevated ridgelines. In some cases, the developers are arguing that recent advancements in wind turbine technology have made newer models so efficient that older, less efficient turbines erected nearly a decade or more ago have lost much of their taxable value. [ read more … ]

What will it take to meet Biden’s new offshore wind power targets?

By Erin Baker & Matthew Lackner, Green Biz  •    •  Posted 2021-04-11 11:10:26

The United States’ offshore wind industry is tiny, with just seven wind turbines operating off Rhode Island and Virginia. The few attempts to build large-scale wind farms like Europe’s have run into long delays, but that may be about to change. The Biden administration announced March 29 that it would accelerate the federal review process for offshore wind projects and provide more funding. It also set a goal: Develop 30,000 megawatts of offshore wind capacity this decade — enough to power 10 million homes with clean energy. To put that in perspective, the U.S. has just 42 megawatts today. [ read more … ]

Solar Energy

Wind and solar energy are job creators. Which states are taking advantage?

By Karin Kirk, Yale Climate Connestions  •    •  Posted 2021-04-11 11:09:56

This analysis presents one way to look at renewable energy jobs in all 50 states. Every state already employs people in wind and solar energy. Each state also has a given amount of wind and solar potential. Some states are translating their natural potential into jobs, while others lag far behind. Following are seven maps, stepping through three questions: How many jobs does each U.S. state have in wind and solar? How much wind and solar potential is there in each state? And how well has each state created jobs in wind and solar, given the size of their potential?The states with the largest potential of usable wind are Texas, Kansas, Nebraska, and South Dakota. [ read more … ]

Biden Administration

Down to the wire: Biden’s green goals face a power grid reckoning

By ERIC WOLFF, Politico  •    •  Posted 2021-04-11 11:07:53

President Joe Biden’s dream of a climate-friendly electric grid hangs on a slender wire: his administration’s ability to speed the construction of thousands of miles of power lines. But he’ll have to contend with a major obstacle: Americans who hate seeing these kinds of projects anywhere near their backyards. Power companies’ efforts to build long-range transmission lines have failed repeatedly in recent decades, mired in legal and political fights from Maine to Arkansas, because of opposition from states and communities along the projects’ paths. Another challenge is supplying the tens of billions of dollars that such a massive transmission build-out would require. [ read more … ]

Markets

Americans Desperate to Get Out Set Stage for Gasoline Comeback

By Jeffrey Bair, Andres Guerra Luz and Breanna T Bradham, Bloomberg  •    •  Posted 2021-04-11 11:10:49

Americans are getting ready to rekindle their love affair with the open road, unleashing a full-fledged recovery for gasoline that could send demand to a record. Traffic is already roaring back in cities like Houston as offices reopen. Things will really start taking off this summer as pent-up travel demand finally busts out thanks to the increase in vaccinations. After almost half of Americans ended up canceling trips in 2020, many are planning to take an extra week of vacation this year to make up for lost time. Theme parks are gearing up for an influx of visitors, and attendance at national parks is expected to swell.
[ read more … ]

EVs

GMC Unveils Electric Hummer SUV to Join Pickup

By Jim Motavalli, Barrons  •    •  Posted 2021-04-11 11:11:05

This week, GMC made it official: The new electric Hummer is a family, with an SUV to add to the pickup. The pickup was announced Oct. 20 and will be available (in its most deluxe 3X, $99,995 form) by the fall of 2022. We will have to wait longer for the newly announced SUV, which won’t be on the market until early 2023 in an Edition 1 with an extreme off-road package, starting at $110,595. [ read more … ]

 

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.