Wind

Renewable sources of energy are collectively on track to eclipse coal as the world’s leading source of electricity, with capacity growth forecast to nearly double in the next five years, the International Energy Agency (IEA) said in a new report. IEA’s Renewables 2022 report forecasts that abundant energy drivers such as wind and solar will…

Latin America doesn’t have any offshore wind today, but that could change soon as the region tries to build out a hydrogen industry. Off-grid green hydrogen projects should spur Latin America to a sharp increase in offshore wind projects, with capacity reaching 34 GW by 2050, according to analysis from Wood Mackenzie. Offshore wind activity…

Enbridge Inc. agreed Thursday to pay $270 million to buy Tri Global Energy LLC (TGE), a top U.S. wind and solar company with a portfolio that includes 45 generating sites in seven states. The takeover, which includes debt, adds a built-in bonus of up to $50 million if all of TGE’s projects now on the…

Policymakers must ensure the supply of conventional energy sources alongside lower carbon ones as the energy transition marches on, according to Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser. The head of the state-owned oil behemoth has been warning of the threats to global energy security posed by underinvestment in oil and natural gas. “Many…

Though still behind natural gas-fired generation, renewables supplied nearly one-quarter of total utility-scale generation in the first half of 2022, according to the U.S. Energy Information Administration (EIA).  EIA’s June Electricity Monthly Update found that renewables increased their market share 3% year/year to 24%, following a decade-long trend of jumping 3% every five to six…

 A mammoth wind-powered hydrogen production project planned in Newfoundland is poised to emerge as a frontrunner to keep the Canadian government’s promise to deliver new supplies for energy-hungry Europe. Prime Minister Justin Trudeau and German Chancellor Olaf Scholz plan to unveil an energy cooperation agreement at the Stephenville deepwater port site for the proposed Project…

Following Gov. Gavin Newsom’s request to the California Energy Commission (CEC) to shoot for more “ambitious” climate goals, the regulator last week adopted a planning goal to develop 25 GW of offshore wind by 2045.  In its latest report, Offshore Wind Energy Development off the California Coast, CEC said that the “preliminary planning goals are…

The Energy Information Administration (EIA) reported a larger-than-expected 44 Bcf injection into natural gas storage facilities for the week ending Aug. 5. The build ultimately had little bearing on prices. Futures were trading sharply higher ahead of the EIA report because of further day/day declines in production. Choppy price action was seen after the data…

The Department of Interior’s (DOI) Bureau of Ocean Energy Management (BOEM) has identified two sites in the Gulf of Mexico (GOM) that could support offshore wind development in an area that has long been one of the major natural gas and oil breadbaskets.  The largest of the two proposed wind energy areas (WEA) spans 546,645…