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BP Announces Offshore Wind Innovation Hub Opening in Brooklyn
An oil and gas major has made a major renewable energy investment in the United States. According to a press release from BP, the company announced that the Offshore Wind Innovation Hub (OWIH) has opened and is looking for its first call for applications. The Brooklyn-based Hub was founded in mid-2022 to identify and help
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U.S., UAE Announce First $20 Billion Investment to Fund 15 GW in New Clean Energy
The first steps have been announced for a clean energy initiative between two major industrialized nations. According to Reuters (via Energy Now), the United States and the United Arab Emirates announced on Sunday that the first $20 billion of their $100 billion clean energy partnership would be allocated to fund 15 new gigawatts of renewable
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GM, Ford, Google Partner to Promote ‘Virtual’ Power Plants
Some major corporations are partnering together on a joint venture. According to Reuters (via EnergyNow), companies including GM, Ford, Google, and solar energy producers announced they would work together to establish criteria for increasing the use of virtual power plants (VPPs), systems for reducing loads on electricity grids when supply is short. The companies said
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Several Solar Panel Manufacturers Increase Production as Costs Tumble
Solar panel production could increase dramatically soon. According to EnergyNow, a number of large solar-panel makers are increasing production in anticipation of a financial boon to clean energy. One key reason is the fall in material costs for solar panels that had been heightened for over a year.Three leading Chinese module manufacturers are increasing January
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Chevron, Baseload Capital Create Joint Venture Exploring Geothermal Development
According to a company news release, the Chevron Corporation, through its Chevron New Energies business, and Baseload Capital have announced a joint venture to develop geothermal projects in the United States. The two companies will collaborate on driving geothermal opportunities – including identifying the best prospects for development, operations and progressing the next generation of
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Construction of $11 Billion Desert Renewables Project Begins in China
A massive renewables project has started in northern China. According to EnergyNow, China began construction on an 80 billion yuan ($11 billion) renewables project in Inner Mongolia, part of a huge clean-power initiative to reach the nation’s ambitious climate targets. Located in the Kubuqi Desert, the project will have 16 gigawatts of power capacity when
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Bids Soar at First-Ever California Offshore Wind Auction
Attention is growing for the first offshore wind development off the US west coast. According to Reuters (via EnergyNow), the United States’ first sale of offshore wind development rights off the coast of California had attracted more than $387 million in bids from companies wanting to invest in the domestic industry’s expansion to the deep
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U.S. EPA Proposes Biofuel Program Revamp
President Joe Biden’s administration unveiled a three-year proposal to expand the U.S. biofuels policy with bigger volume mandates. For the first time, this will include a pathway for electric vehicle manufacturers to build valuable credits. According to Reuters, Biden wants to fight climate change by lowering fossil fuel use in America’s transport sector. This is
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NextEra Energy to Invest $805 Million to Expand Renewables Portfolio
An American energy company is making a major investment in renewable energy. According to Reuters, NextEra Energy Partners LP said the company signed a deal to acquire solar and wind assets for $805 million as it expands its renewables portfolio on increasing demand for clean energy. The emphasis on promoting alternative energy sources has gained
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Carlyle Group Seeks $1.6 Billon for Second Renewable Energy Fund
A private equity company is making a major investment in renewable energy. According to people familiar with the story, Reuters is reporting that Carlyle Group Inc is seeking at least $1.6 billion for its second private equity fund to invest in renewable energy and sustainability assets. The sources for Reuters said the Washington, D.C.-based firm
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Germany Considers State Guarantees for Renewable Energy Production
A European country could offer some major incentives for renewable energy investment. According to Reuters, Germany is considering introducing state guarantees for investments in renewable energy, Economy Minister Robert Habeck said on Monday, as Berlin works to become more independent in scaling up renewables capacity. Germany, which is Europe’s biggest economy, has a goal to
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The First Commercial-Scale Offshore Wind Farm in France Begins Operations
A major renewable energy project began operations in Europe. According to Reuters (via EnergyNow), France’s first commercial-scale offshore wind farm began operating, adding 480 megawatts of capacity to the grid at a time when Europe is trying to secure energy supplies after Russia’s invasion of Ukraine. The Saint-Nazaire wind farm, located off the coast of
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