Energy News Monitor I Volume VIII, Issue 20

SOUTH CHINA SEA DISPUTE: THE DILEMMA FOR CHINA

 

NEWS BRIEF

OIL & GAS

Sandesara claims to kick-off crude production in OPEC as the first Indian operator

November 1, 2011. Diversified Sandesara Group is claiming to be the first Indian operator in OPEC country to kick off crude production in Nigeria. Sterling Global Oil Resources entered into an agreement with trading group Vitol to supply crude produced from its first block. The company has license to explore and produce crude from four onshore blocks with a total acreage of almost 2,000 sq km in Nigeria. It is aiming ramping up crude production to 30,000 barrels in 18 months and one-lakh barrels in 4-5 years. In future, Sterling will also start producing gas from Nigerian fields. Currently, gas produced from the first block is injected in wells to maintain pressure for crude flow. It is also exploring opportunities in other oil rich countries to get license for exploration and production.

Reliance Industries plans up to $2.3 bn investment in R-Series gas field

October 31, 2011. Reliance Industries (RIL) plans to invest up to $2.338 billion to produce about 15 million standard cubic metres per day of gas from the R-Series gas field in its eastern offshore KG-D6 block. The Dhirubhai-34 discovery, known as the R-Series field, has gross in-place gas reserves of 1.64 trillion cubic feet, which, according to Reliance, can be brought into production in 4-5 years. The proposal to declare the field commercially viable -- a prerequisite before investments can be made to bring it to production -- is likely to come up before the KG-D6 block oversight committee. The Management Committee (MC) for KG-D6 has one member each from Reliance and its two partners, BP Plc of the UK and Niko Resources of Canada, besides oil regulator DGH and the Petroleum Ministry. The MC is likely to consider Declaration of Commerciality of four discoveries -- Dhirubhai-29, 30, 31 and 34 -- in the KG-DWN-98/3, or KG-D6, block. The DGH has raised objections on technical data for the D-29, 30 and 31 finds and has asked Reliance to withdraw the current proposal and resubmit it later. The MC will only consider the DoC for the D-34 field. Reliance believes D-34 can produce 14.68 mmscmd of gas from 11 wells for eight years, they said, adding that the investment figures were only tentative, with a limited view of assessing commerciality of the find and a firm field development plan would be submitted after the DoC is approved. It had previous submitted a FDP for four satellite fields surrounding the currently active Dhirubhai-1 and 3 fields in KG-D6 block. The proposal to invest $1.529 billion for producing up to 10 mmscmd of Reliance believes D-29, 30, 31 and 34 hold gross in-place reserves of 2.2 trillion cubic feet and can produce a peak output of up to 20 mmscmd. But since the DGH has asked D-29, 30 and 31 to be disassociated, the D-34 reserves of 1.267 tcf are being considered. The company has so far made 18 gas discoveries in the KG-D6 block. Of these, D-1 and D-3 -- the largest among the lot -- were brought into production from April, 2009. It had in July, 2008, submitted a FDP for nine satellite gas discoveries (D-2, D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23) with an estimated capex of USD 5.6 billion and reserves of 1,708 billion cubic feet (bcf). Reliance later submitted an optimised development plan for the four satellite gas fields at the end of year 2009. Reliance estimated 1,733 bcf of in-place gas reserves in the four finds, of which 626 bcf can be produced. However, the DGH trimmed down the estimates to 1,342 bcf and 617 bcf, respectively.

ONGC requests for public hearing on exploration in KG-basin

October 30, 2011. ONGC has requested the Andhra Pradesh Pollution Control Board to organise a public hearing on exploration of its 24 blocks in the KG basin. The request on public hearing ONGC comes as the petroleum exploratory licence (PEL) is expiring in 2013. This is first time ONGC is going for a public hearing for exploration after the central government mandated it in 2008. After the public hearing, ONGC will approach the Ministry of Environment and Forest for exploration permit. If the results are encouraging, it will request the government to issue mining or drilling licence for 20 years. According to the Andhra Pradesh Pollution Control Board, the public hearing will be organised in Bhimavaram town in West Godavari District on November 4. ONGC, which has earmarked ` 731 crore for exploration and drilling, hoping that each well will yield at least 10 million metric tonnes of oil or oil equivalent gas over a period. However, the estimates may not be accurate always. ONGC produces 840 tonnes of oil per day and 3.8 million metric standard cubic meters per day (mmscd) of gas from its 24 blocks. The company may require five to six acres of land, once drilling is undertaken. If the authorities find reserves of gas and oil in the well, they will retain the land to continue their operations of extraction, and in case they find no reserves, the land will be returned to its owners. The process will take nearly five months to complete.

Fuel retailers like HPCL pushing for ` 1.82 per litre petrol hike

November 1, 2011. State-owned oil companies are pressing for a ` 1.82 per litre increase in petrol prices because of rupee depreciation and hardening of crude oil prices. Public sector oil firms had in September raised petrol prices by ` 5 per litre. Crude oil is hovering at around $108 per barrel in international markets, while the rupee has depreciated from ` 46.50 a dollar three months ago to over ` 49 per dollar now, increasing the cost of oil imports. The loss on petrol is currently ` 1.50 per litre and after including local levies, the desired increase in retail prices is ` 1.82 per litre.

BPCL issues tender to buy sweet crude for December

October 26, 2011. Bharat Petroleum Corp has issued a monthly tender to buy sweet crude for December. In the previous tender, BPCL bought 3 million barrels of West African crude including Angolan Nemba, Nigerian Qua Iboe and Escravos.

Didn't favour Reliance Industries in allotting entire D-6 block: Oilmin

November 1, 2011. The oil ministry plans to counter Comptroller and Auditor General's (CAG's) charge of favouring Reliance Industries in administering the D-6 block. The ministry will inform Parliament's Public Accounts Committee (PAC) that its actions caused no financial loss and it had dealt with ONGC in a similar fashion, based on the director general of hydrocarbon's technical advice. The CAG has criticised the oil ministry for allowing Reliance Industries to retain the entire exploration block although the contract says 25% of the area should be relinquished after the first and second phases of exploration if oil or gas is not found in those areas. The contract also allows the contractor to retain the entire block. Reliance has also argued that from the technical data and seismic surveys it could be inferred that the entire block was a discovery area.

Oil companies hike jet fuel prices

October 31, 2011. After a one-off reduction, state-owned oil companies hiked jet fuel prices by a steep 3.8 per cent in line. The price of aviation turbine fuel (ATF), or jet fuel, at Delhi's T3 airport was raised by ` 2,845 per kilolitre (kl), or 3.8 per cent, to ` 61,115 per kl .

India's gas demand to more than double to 473 mmscmd by 2017

October 30, 2011. India's natural gas demand is likely to more than double to 473 million standard cubic meters per day by 2016-17 with most of incremental demand coming from power plants. As per the projections made by Oil Ministry for the 12th Five Year Plan (2012-13 to 2016-17), current gas demand of 189 mmscmd is likely to rise to 473 mmscmd. Of the 473 mmscmd demand at the end of 12th Five Year Plan period, 207 mmscmd would be from power and another 113 mmscmd from fertilizer plants. Power plant would need 307 mmscmd by 2021-22 while fertilizer units may not see any incremental demand during 2017 to 2022. Domestic natural gas production currently is about 120 mmscmd and another 46.3 mmscmd is imported in form of liquefied natural gas (LNG). The total availability of 164 mmscmd is short of current demand of 189 mmscmd. State-owned Oil and Natural Gas Corp (ONGC) produces under 51 mmscmd of gas while output from the prolofic KG-D6 fields of Reliance Industries is about 45 mmscmd. Oil India produces 6.6 mmscmd and another 11.9 mmscmd comes from western offshore Panna/Mukta and Tapti fields.

India seeks 3 million tonnes extra LNG from Qatar

October 28, 2011. India is seeking an extra three million tonnes of liquefied natural gas (LNG) per year from Qatar for its Dahej plant and Dabhol project under long-term contracts. Qatar, the world's top LNG exporter, currently supplies 7.5 million tonnes of LNG a year to India under a long term contract. The Dahej plant has capacity for 10 million tonnes per year and this should rise to 15 million tonnes per year by end-2015. The Dabhol LNG terminal should be commissioned by March and will have capacity of 5 million tonnes per year. It will be operated by a venture of state-owned companies GAIL India and NTPC, a power producer. India's economy, growing at around eight percent per year, relies heavily on imports for its energy needs. India's daily gas consumption in 2010 was estimated at 6.1 billion cubic feet (bcf) and is expected to exceed 15 bcf in 2030. LNG currently accounts for a tiny amount of India's energy needs, most of which are met by coal with oil covering about a quarter of demand -- making the country Asia's third-largest oil importer. Its LNG import capacity should reach 47.5 million tonnes a year (mtpa) in 2015-16 from 13.5 mtpa currently as it seeks to diversify its import needs. India had asked Qatar for extra LNG supplies but did not specify quantities. Qatar offered to supply liquefied petroleum gas and oil condensate to India. India wants to secure long-term LNG deals to help cushion against global price volatility and to secure energy supply as it relies on imports for over 80 percent of oil needs. Gas accounts for about 10 percent of India's primary energy basket versus the world average of 24 percent.

POWER

SPR Infra to set up power plant in TN

October 31, 2011. SPR Infrastructure India Limited is planning to set up a 2,640 Megawatt power plant in Tamil Nadu. The project will involve an investment of ` 13,200-15,840 crore and will come up in Tuticorin district on the East Coast. The company has submitted a proposal seeking ministry’s clearance for setting up the power plant in Tamil Nadu. The project will be set up in two phases. The company has zeroed in on Savarimangalam village in Tuticorin district for the proposed project. Both the phases will have 2X660 Mw units each. The company is in the process of setting up a similar size power plant (4x660 Mw) in Gujarat at Okha Special Industrial Region.

The project, a supercritical thermal power plant, is estimated to cost around ` 16,000 crore. The other major project of the group is coming up in Orissa. The 2x660 Mw thermal power project in Ganjam district will be 40 per cent imported coal and 60 per cent indigenous coal and will be also be a supercritical thermal plant. The estimated cost of the project is ` 7,500 crore.

GMR eyes 5 GW coal-fired operating capacity in three years

October 29, 2011. GMR Energy, a unit of GMR Infrastructure, will have nearly 5,000 MW coal-fired operating capacity over the next three years. The current investment commitment of GMR in energy sector was nearly ` 30,000 crore (over $6 billion). The GMR Energy's current operative capacity is just a little over 800 MW from several projects which are mainly in Andhra Pradesh and Tamil Nadu but none of the project is coal-fired.

ONGC to invest in nuclear power plants of NPCIL

October 28, 2011. ONGC plans to take up to 49 per cent stake in one of the five proposed nuclear power plants of Nuclear Power Corp of India Ltd (NPCIL). NPCIL intends to set up five 'Nuclear energy parks' each with a total capacity of up to 10,000 MW at a single location. The sites identified for these energy parks are Kudankulam in Tamil Nadu, Jaitapur in Maharashtra, Mithi Virdi in Gujarat, Kowada in Andhra Pradesh and Haripur in West Bengal with imported reactors. Besides this, 700 MW indigenous PHWR (Pressurised heavy water reactor) technology is planned for Kumharia in Haryana (2800 MW), Bargi in Madhya Pradesh (1400 MW) and Markandi in Orissa (6000 MW). Nuclear power being highly capital intensive sector, requires about ` 10 crore per megawatt (MW) and projects are generally financed in 70:30 debt-equity ratio. For a 2000 MW project, ONGC's equity would come to ` 2,940 crore spread over 5-6 years. For its planned projects, NPCIL has already signed joint venture agreement with state power utility NTPC, oil refiner Indian Oil Corp (IOC) and aluminium manufacturer Nalco. It is also in discussions with Bharat Petroleum (BPCL) and Steel Authority of India (SAIL). Current tariffs for the nuclear power assure post tax return on equity at the rate of 14 per cent even at normative plant load factor or capacity utilisation of 68.5 per cent. Currently only government companies can take up nuclear power generation in the country. While NPCIL has been assigned the responsibility for construction and operation of nuclear power plants with LWR and indigenously developed Pressurised Heavy Water Reactor (PHWR), Bhartiya Nabhikiya Vidyut Nigam (BHAVINI) is setting up Fast Breeder reactors with indigenous technology. NPCIL currently has 20 reactors that can generate 4,780 MW, or 2.7 per cent of India's total installed capacity of 176,990 MW. The government plans to increase its nuclear capacity to 60 gigawatts by 2030. The share of nuclear energy in India's power generation is projected to increase from 2.9 per cent to 9 per cent in 2031-32.

Rinfra to boost suburban power distribution

October 31, 2011. The power distribution system in the suburbs will be able to take more load and avoid power cuts because of congestion or other technical glitches. Suburban power supplier Reliance Infrastructure (RInfra) has commissioned yet another receiving station taking the installed capacity for suburbs to 2,902 mega volt ampere (MVA), which is around 2,850 megawatt (MW). RInfra’s 69th receiving station has added 40MVA capacity through its two new transformers in the Mira-Bhayander area. This will make the suburbs ringmain network more formidable. In ringmain network, all power lines are interconnected so that in case one of them fails, electricity can be distributed through other lines. The commissioning of new receiving station will also facilitate swapping of load from one extra high voltage substation to other incase of transmission line failures. The electricity regulator has also asked all power utilities to upgrade their respective networks because the city’s demand is expected to grow every year by more than 12%. Currently, the city’s 39 lakh consumers need 2,900-3, 200MW of power daily. RInfra’s distribution network for 28 lakh consumers had an installed capacity of 2,832MVA at the end of March 2011. In the past seven months, it has gone up to 2,902MVA.

PowerGrid mulls JVs with states to set up transmission network

October 30, 2011. PowerGrid Corporation is looking at entering into joint venture agreements with various state governments for laying out intra-state transmission networks. PowerGrid is in talks with states including Orissa, Sikkim, Assam, etc. The corporation has already adopted the joint venture model on public private partnership (PPP) basis with eight companies for intra-state connectivity. The corporation has entered into joint venture agreements with Powerlinks Transmission, Parbati Koldam Transmission Company, Torrent Power Grid, Energy Efficiency Services, Teesta Valley Power Transmission, Northeastern Transmission Company and National High Power Test Laboratory.

Discoms face Central Electricity Regulatory Commission's ire for overwithdrawing from grid

October 29, 2011. The Central power regulator has warned distribution companies that they face punitive action for drawing too much electricity from the grid, which nearly collapsed because of indiscipline by utilities when coal shortage hit generation.

The cash-strapped distribution companies, already facing heavy losses, will now have to buy more power from the open market, where prices have quadrupled in recent weeks because of the unprecedented coal shortage. State utilities were not at liberty to make up the shortfall in their scheduled drawal by overdrawing from the grid. When distribution companies draw too much electricity, the frequency of the grid falls, making the system vulnerable. In the north-east-west grid, the frequency dipped below the critical level of 49.5 Hz in 70% of the period between Sept 23 and Oct 6 as Uttar Pradesh, Haryana and Rajasthan pulled out more electricity than agreed. Tamil Nadu and Andhra Pradesh also drew too much power, endangering the southern grid.

The Northern Regional Load Despatch Center (NRLDC), the agency responsible for grid security, approached the commission against state utilities that drew more than committed quantity of electricity. NRLDC said though condition of the grid has improved with increased availability of power over the last week, punitive measures were necessary to avert similar situation in the near future. Of the 89 coal based projects in the country, 32 are still running with a supercritical fuel stock of less than four days. Fifteen projects have fuel to operate less than seven days. The cash-strapped distribution utilities do not have any contingency measure in place to address situation of shortage of supply of power in future.

The regulator has also asked the northern states to explain the necessity of over drawing from grid. State utilities said the move was necessary to avoid power cuts as many coal-based projects stopped operating due to coal shortage during the fortnight. In its interim order, the commission directed state utilities to purchase power from short-term open markets as they are informed about availability a day ahead. Uttar Pradesh government said over drawing from the grid was the only option with states as short-term purchases required more time and efforts.

Power distribution companies bear the brunt of coal crisis

October 28, 2011. India's coal crisis has hit power distribution companies the most as they bought electricity at ` 14 per unit to meet the high demand in the festive season, and sold it at the fixed tariff of about 4, further squeezing their finances and increasing the risk of defaults. Power prices in the open market have doubled to ` 8 a unit in two weeks. The burden falls squarely on distribution companies as power producers such as NTPC have no liability for supply less power. An Uttar Pradesh government said the state utility bought expensive power during the period to avoid power cuts ahead of elections. Peak demand in Uttar Pradesh touched an all-time high of 11,500 MW on Diwali. Haryana, Delhi, Punjab, Uttarakhand, Madhya Pradesh, West Bengal, Chhattisgarh, Tamil Nadu and Karnataka have also bought expensive power from the short-term open market or overdrew from the national grid inviting penalties up to ` 14 per unit. BSES Rajdhani, one of Delhi's electricity distribution companies, said it bought electricity at ` 14 per unit for a while and the average cost of purchase was around 7 during the period.

Dispatch of coal to power firms a priority: Govt to coal miners

November 1, 2011. Amid a severe disruption of electricity supply in different parts of the country due to an acute coal shortage, the government said it has advised coal companies to ensure priority movement of the dry fuel to power stations to improve generation. In a bid to improve the stocks position at power stations, a total of 141 rakes carrying coal were dispatched to various units on October 30. In October, the railway load dispatched daily from CIL sources was 157 rakes, out of which 128 rakes were destined for power stations. As per Central Electricity Authority (CEA), 33 power plants with a total generation capacity of 39,054 MW across the country were facing an acute fuel shortage and had coal stocks for less than four days on October 28. Power plants usually maintain 10-15 days of coal stocks. The situation is considered critical if the reserves fall below seven days' generation requirement. On October 30, a total of 51 rakes were dispatched, out of which 24 rakes were sent to the power stations of Uttar Pradesh alone. While three rakes were dispatched to the Unchahar plant, the Dadri project was sent 10 rakes. In addition, the thermal power station at Faridabad was sent 10 rakes and the Panipat plant four rakes. During the last three days, 166 rakes have been dispatched to power stations in northern India. Regular coal supply is being maintained to power plants in Andhra Pradesh as well. The Coal Ministry has attributed the shortage of coal to a number of factors, including lower production by Coal India on account of heavy rains in August-September and a strike at Singareni Collieries Company (SCCL), which has been called off. Regular coal supply from SCCL has been restored, the ministry said last week, adding that it will take some more time for these plants to build up their coal stocks.

Bidding norms for power projects to be revised

November 1, 2011. The qualification norms for companies bidding for power projects will be revised as many developers struggle to meet their obligations, government said. Many power companies are struggling because of high cost of fuel and low tariffs, which have also heightened the risk of defaults on loans. In addition, some non-serious players have entered the sector. The government had fixed the norms in 2006 for "Case-I" bidding, where the company chooses the fuel, location and technology of the power station, as well as "Case-II" bidding where those criterias are specified, as in the case of ultra mega power projects. The government is already working on making necessary changes in standard bid documents for ultra mega power projects. Following policy changes in Indonesia and Australia, power developers have demanded revision of power tariffs of imported-coal based projects.

NHPC plans to raise ` 20-30 bn by end FY12

October 31, 2011. State-run hydro-power utility NHPC Ltd expects to raise 20-30 billion rupees by the end of March 2012 via term loans and rupee bonds to fund construction of projects. The firm expects to install new hydroprojects worth 515 megawatts by the end of the current financial year, compared with its own target of about 1,100 MW. The firm reported a 21 per cent jumo in its net profit at 9.66 billion rupees on net sales of 18.31 billion rupees. NHPC's operating power stations generated 13.37 billion electricity units during the half year ended Sept. 30, which is 3 per cent higher on year and surpassing its target of 12.98 billion units for the half year.

India's post-Fukushima syndrome can backfire

October 28, 2011. The ongoing wave of protests over the construction of Kudankulam nuclear power plant in Tamil Nadu could affect India's ambitious nuclear energy generation and could backfire to deprive the South Asian giant of its critical advantage over China. Kudankulam power plant with two VVER-1000 reactors, being built with the Russian assistance is in the final stages of its commissioning, which has been withheld due to picketing and protests by the local population. India's goal of priority industrial development, in particular in high-tech sectors, is impossible without modern power generation, especially amid growing rivalry with China for influence in South Asia and in the global division of labour.

OIL & GAS

CNOOC boasts high shale production in US partnerships

October 31, 2011. China National Offshore Oil Corp (CNOOC), said unconventional oil and gas production in its United States partnerships totaled 3 million to 4 million barrels this year. China is estimated to hold more natural gas trapped in shale than the US. Shale gas is among the largest onshore energy prospects in China.

Gazprom proposes $200 mn for Bangladesh O&G contract

October 31, 2011. Russia's Gazprom met with Bangladesh to conclude negotiations with the government for exploration of oil and gas. Bangladesh Energy Secretary said that the world's largest natural gas company would invest $200 million to explore at least 10 wells and assused Bagladesh that drilling activities would be finished by the middle of 2013. Gazprom has also agreed to pay 5 percent as a performance guarantee of the total cost. If the proposal is accepted, Gazprom will become Petrobangla's first foreign company partner without a production-sharing contract.

Americas Petrogas boasts 3 oil discoveries in Argentina

October 26, 2011. Americas Petrogas announced three conventional oil discoveries from the recently-completed exploration drilling program on the Rinconada Norte block located in La Pampa Province in the eastern margin of the Neuquén Basin of Argentina.

GTL Resources agrees $52 mn takeover

October 31, 2011. GTL Resources, the owner of an ethanol and bio-refining company, has agreed to a 32 million pound ($52 million) cash offer from marine firm Siem Kapital and fund manager North Atlantic Value (NAV). Siem and NAV will pay one pound a share for GTL, which produces over one million gallons of ethanol per year through its subsidiary Illinois River Energy LLC. Norwegian firm Siem Kapital specializes in the management of marine vessels and is a subsidiary of Siem Industries, an industrial holding company with interests in various marine and resources sectors. GTL said the offer provided GTL shareholders with a "significant" cash premium over the price at which the company's shares have traded recently.

PetroChina quarterly gains top Sinopec as oil prices counter refining loss

October 28, 2011. PetroChina Co.’s third-quarter profit growth outpaced gains by rival China Petroleum & Chemical Corp. as higher crude oil prices helped counter refining losses at Asia’s biggest company by market value. Losses from refining amounted to 41.5 billion yuan for PetroChina and 23.1 billion yuan for Sinopec. PetroChina said Oct. 21 its refining loss may widen to 50 billion yuan for the year, from 23.4 billion yuan in the first half. Sinopec’s six- month refining loss was 12.2 billion yuan. Refining at PetroChina increased 10 percent in the first nine months to 725.2 million barrels, equivalent to about 2.7 million barrels a day. Sinopec processed 4.4 million barrels of crude daily, 3.6 percent more than a year earlier.

Gasoline cargoes to U.S. may rise as refineries cut production of the fuel

October 27, 2011. Gasoline shipments from Europe across the Atlantic Ocean may jump as U.S. refineries cut production. Thirty-five tankers were booked or due to be chartered for loading. U.S. agricultural demand for diesel has spurred refineries to increase production of that fuel, and cut gasoline output. Reduced gasoline output and more exports to Latin America have increased the need for supplies from Europe.

Bashneft to invest $1.2 bn in refining, petrochemicals

October 27, 2011. Bashneft plans to invest 35 billion rubles over five years in oil refining and petrochemicals. Bashneft plans to invest about 19 billion rubles in raising product yield from crude and production of light oil products; 9.7 billion rubles in improving the quality of motor fuel to meet the Euro 5 standard; and 6.4 billion rubles in production development and "reduction of costs and fuel consumption". The largest amount of investment - 16.2 billion rubles - will go into the Novoil oil refinery in Novoufimsk; 9.5 billion rubles is earmarked for the modernization of the Ufa Oil Refinery; and 1.7 billion rubles will be invested in Ufaneftekhim. The relatively small amount of investment in the modernization of Ufaneftekhim is due to the fact that this plant already has an oil conversion ratio of 95%.

GDF signs two deals in China for LNG

October 31, 2011. GDF SUEZ signed two agreements with China Investment Corporation (CIC) and China National Offshore Oil Corporation (CNOOC) illustrating the development strategy of GDF SUEZ in China and in the Asia-Pacific region. GDF SUEZ and CIC announced an agreement for cooperation across multiple businesses and regions that will provide additional development opportunities for the Group, in particular in the Asia-Pacific region. As the first milestone of this cooperation, GDF SUEZ and CIC signed an agreement covering a €2.3 billion minority investment in the Exploration & Production Division of GDF SUEZ and the acquisition by CIC of a 10% stake in train 1 of the Atlantic LNG liquefaction plant in Trinidad and Tobago. As part as the development of its activities in the region, GDF SUEZ also signed with CNOOC a cooperation agreement in the liquefied natural gas (LNG) sector. Through this agreement, GDF SUEZ will provide CNOOC with a shuttle and regasification vessel to be used as a floating storage and regasification unit in China. This follows the recent signing of a cooperation framework agreement with Beijin Gas Group which covers several fields of cooperation such as natural gas, LNG or energy services.

Russian oil pipeline operator, Urals region sign agreement

October 28, 2011. Russia's national operator of oil pipelines, OAO Transneft, and the constituent region of Bashkortostan signed an agreement on cooperation. The document says its purpose is to develop the economy and people's well-being in Bashkortostan and, on top of that, to strengthen the Russian Federation's energy security. The document stipulates the unity of management over the trunk oil pipelines and oil product lines inside Russia. As part of this cooperation Transneft will support the social projects implemented on the territory of Bashkortostan. The agreement says Transneft's subordinate entities operating in Bashkortostan wil ensure the annual remittance of no less than 850 million rubles to the regional budget as of 2011.

Lawmakers ask Obama to delay Keystone decision

October 27, 2011. Fourteen lawmakers called on President Barack Obama to delay a decision on the Canada-to-Texas Keystone oil sands pipeline, while Obama was interrupted in Denver by a protester opposing TransCanada Corp's project. The 14 lawmakers asked the State Department's inspector general in a letter to investigate whether alleged conflicts of interest had tainted the process for reviewing the pipeline. The lawmakers expressed concern that Cardno Entrix, a company the State Department hired to conduct environmental impact statements on the Keystone XL line, had financial ties to TransCanada.

Hedge funds’ bullish bets driving biggest rally in 10 months

November 1, 2011. Speculators boosted wagers on higher commodity prices by the most since August as improving prospects for growth in the U.S. and Europe sent prices toward their biggest rally in 10 months. Money managers boosted combined net-long positions across 18 U.S. futures and options by 13 percent to 831,421 contracts. The Standard & Poor’s GSCI Index of 24 raw materials jumped 9.6 percent in October, capping the biggest gain since December. U.S. oil inventories dropped to the lowest in 20 months in the week ended Oct. 14.

Canada toughens tone on Keystone approval

November 1, 2011. Canada is toughening its tone on the Keystone XL pipeline, warning the Obama administration that rejection of TransCanada Corp's $7 billion project could prompt Ottawa to concentrate on selling its oil-sands-derived crude to Asian customers instead. In the face of rising environmental opposition to the planned pipeline, which would carry 700,000 barrels per day of supply from Canada's oil sands projects to refineries on the U.S. Gulf Coast, the Obama administration has signaled that it may miss a year-end target for approval.

U.S. to require details of fracking on federal land

October 31, 2011. The Interior Department plans to issue a proposal soon forcing companies to reveal the chemicals they use in the so-called fracking drilling process on federal lands, as the Obama administration responds to public safety concerns over the shale exploration boom.

Iran’s Khatibi sees oil market balanced, no need for emergency OPEC talks

October 30, 2011. Iran’s Governor to OPEC Mohammad Ali Khatibi said supply and demand in world oil markets are balanced and he sees no need for an emergency meeting of the producer group. The Organization of Petroleum Exporting Countries plans to meet next on Dec. 14 in Vienna.

Louisiana must turn over records to BP: Judge

October 28, 2011. Louisiana must quickly turn over documents requested by oil giant BP, or else face dismissal of its lawsuit against the company for losses caused by the Gulf of Mexico oil spill, a Judge ruled. Louisiana faces fines of up to $10,000 per day if it does not comply. The court is overseeing hundreds of lawsuits related to the 2010 disaster. One lawsuit names Transocean, which owned and operated the Deepwater Horizon rig that ultimately sunk. Louisiana seeks at least $1 million per day for the 87 days the oil leaked off the Louisiana coast in 2010, plus cleanup costs, according to the lawsuit. This first proceeding will apportion blame among BP and other defendants for the disaster, is scheduled to begin in February 2012.

The state must produce documents related to the second phase of the trial by November 21, the document said. The second phase focuses on claims related to stopping the flow of oil and cleaning up after the disaster. The court will fine Louisiana $2,500 per day for each day of non-compliance with the order, the judge ruled. After seven days, the fine rises to $5,000 per day; after 14 days it rises to $10,000 per day. The case is In Re: Oil Spill by the Oil Rig Deepwater Horizon in the Gulf of Mexico on April 20, 2010, MDL-2179, U.S. District Court, Eastern District of Louisiana (New Orleans).

EU seeks stricter offshore oil rules, extends zone, after spill

October 27, 2011. European Union regulators proposed stricter safety standards for offshore oil and natural-gas exploration to curb the risk of a major accident after BP Plc’s spill in the Gulf of Mexico, the largest in U.S. history. Draft regulation presented by the European Commission, the EU’s regulatory arm in Brussels, sets risk- assessment rules for offshore platforms and gives national regulators more powers to inspect their operations. It also extends 16-fold the zone in which companies will be held liable for environmental damage. Europe is considering ways to improve safety and bolster the “polluter pays” principle in the energy industry following the Gulf of Mexico spill last year. There are almost 1,000 offshore oil installations in the EU, including 486 in the U.K., 181 in the Netherlands and 61 in Denmark, according to the commission. The draft regulation fixes rules for the entire life cycle of all exploration and production activities, requiring the offshore oil and gas industry to improve safety standards on a regular basis. Technical solutions that are critical to safety will be subject to verification by an independent third party.

U.S. oks BP's return to deepwater drilling in the Gulf

October 27, 2011. BP passed its final hurdle to returning to the deep waters of the Gulf of Mexico, receiving its first permit to drill a new well since its role in the largest offshore oil spill in U.S. history. The Bureau of Safety and Environmental Enforcement approved the permit after backing BP's exploration plan. An explosion on Deepwater Horizon rig killed 11 workers and ruptured BP's Macondo well, unleashing millions of barrels of oil into the Gulf. Since then, BP has gradually worked toward resuming its offshore drilling program, including promising to adhere to self-imposed standards more stringent than government regulations.

POWER

Vietnam, Japan nuclear project intact despite Fukushima

October 31, 2011. Japan and Vietnam reaffirmed their plan to build a nuclear power plant in the Southeast Asian country using Japanese technology, even as Tokyo still struggles to put the world's worst nuclear accident in 25 years under control. Last October, energy-hungry Vietnam accepted Japan as a partner in the construction of two nuclear reactors in Ninh Thuan province in central Vietnam. But in March, a massive earthquake and tsunami knocked out the cooling functions at Fukushima Daiichi nuclear power plant, 240 km (150 miles) northeast of Tokyo, triggering fuel rod meltdowns, explosions and radiation leakage.

Sri Lanka's new coal power plant out of operation

October 27, 2011. Trade union sources of Ceylon Electricity Board (CEB) say that the newly built Lakvijaya coal power plant at Norochcholai remains out of operation due to technical problems. However, these technical problems also remain unspecified, according to trade unions. Sri Lanka's Power and Energy Ministry turned down a move by the CEB Board of Directors to hand over the management of the Lakvijaya Power Plant to a Chinese Company for six months, at a staggering fee of USD three million. The CEB, which is incurring heavy losses due to purchasing of electricity at higher rates from private sector to cope with the demand, has already asked for a tariff hike. The coal power plant now defunct was built by China Machinery Engineering Corporation. It is operated by CEB since July. The plant was officially handed over to the CEB from September. Around 280 employees of CEB have been trained to manage the coal power plant. Of them, around 100 including 80 engineers were trained in China.

Armenia’s current Nuclear Power Plant fully seismic resistant

October 26, 2011. Armenian Nuclear Power Plant (NPP) has the modern type of VVER-440 reactor, which can carefully stand an earthquake of 9 points. The NPP seismicity caused not only the new construction of VVER 440-230 project but also radical changes of the station as a whole. The reactor, as a result, received a new label V-270. Yerevan currently hosts meeting of the working groups of the CIS countries on the use of nuclear energy for peaceful purposes.

Record coal premium turning into Bargain

November 1, 2011. Even after the biggest wave of coal- mining deals left every buyer this year with losses, a 153-year- old Japanese trading house is betting it can profit by paying the industry’s largest premium for Grande Cache Coal Corp. Marubeni Corp. with businesses ranging from copper to dress shirts and natural-gas tankers, and China’s Winsway Coking Coal Holdings Ltd. agreed to acquire the Calgary-based coal producer for C$1 billion ($1 billion). The C$10-a-share offer is more than double Grande Cache’s 20-day average and three times higher than the premium paid by Alpha Natural Resources Inc. which plunged 58 percent after agreeing to buy Massey Energy Co. in this year’s biggest coal deal. While coal takeovers this year have contributed to an average 32 percent slump for bidders, the premium that Marubeni and Winsway are paying still translates into the industry’s cheapest acquisition of 2011 relative to earnings before interest, taxes, depreciation and amortization, the data show. After slowing global economic growth depressed prices for coal used in steelmaking, Chinese demand for metallurgical coal may help Grande Cache report record sales in the next two years.

Tajikistan-Afghanistan power transmission line officially inaugurated

October 28, 2011. An official ceremony of inauguration of the 220 kV power transmission line from Sangtuda in Tajikistan to Pul-i Khumri in Afghanistan took place on October 27. Tajik prime minister noted that implementation of that large regional project would be one more step towards development of Tajikistan’s energy sector. The power transmission power line will give an opportunity to supply Tajik electricity to Afghanistan during the spring and summer and will promote decrease in power losses on the territory of Tajikistan. According to him, this project will improve Tajikistan’s opportunities to get the regional power market and will raise reliability and efficiency of use of the power transmission line by the two countries. The power transmission line is expected to begin to operate in full capacity at the end of spring of 2012. Barqi Tojik power holding says Tajikistan now supplies electrical power in small amounts only to the Afghan city of Kunduz and the cost of Tajik electricity for Afghanistan is currently 3.5 cents per kilowatt-hour. Electricity generated by the Sangtuda-2 hydroelectric power plant (HPP) will be supplied to Afghanistan. A total cost the Tajikistan-Afghanistan 220 kV interconnection project that was launched in 2009 is 56.5 million U.S. dollars and it is financed by the Asian Development Bank (ADB), the OPEC Fund for International Development (OFID), the Islamic Development Bank (IsDB), the Afghanistan Reconstruction Trust Fund, and the governments of Tajikistan and Afghanistan.

German power grids set for weaker hit on profits

October 26, 2011. Power grids in Germany are set for a smaller hit to their profitability than initially planned by the grid regulator. That would make investment in power grids more attractive as Europe's largest electricity market seeks billions of euros to make its energy supply greener. The regulator has to review returns on the country's power grids at a particularly sensitive time as Germany needs investments in new power lines to connect windfarms in the north with industrial consumers in the south. The country is shutting down all its 17 nuclear power stations. Large consumers in the south that relied on those plants need to get access to new power stations.

Qinghai-Tibet power grid set for trial phase

October 26, 2011. The debugging of China's Qinghai-Tibet grid interconnection project was finished and the grid will begin a trial phase on October 31. The grid was reported be qualified to be used on a trial basis after the debugging work. The project, which set up 900 kilometers of power lines in an area with an average altitude of 4,000 meters, is expected to be put into operation on November 15 after a 15-day trial. The entire project, with a total investment of 16.2 billion yuan (2.54 billion U.S. dollars), consists of three phases: a 750 KV transmission line from Xining, capital of Qinghai, to Golmud in the center of the Qinghai-Tibet Plateau; a 400 KV transmission line from Golmud to Lhasa, capital of Tibet autonomous region; 220 KV of grid facilities within Tibet. As one of the 23 key projects of the Western Development Strategy launched in 2010, the Qinghai-Tibet grid interconnection project aims to ease the power shortage in Tibet and optimize Qinghai province's energy distribution. According to statistics from the Tibet branch of the State Grid, the region's annual power consumption is 1.6 billion kilowatt hours and mostly relies on hydroelectric power sources. The grid is expected to provide 4 billion kilowatt hours to the region annually to ensure an ample energy supply for people's daily lives and industries.

NGCP to strengthen power grid services through transmission assets

October 26, 2011. The National Grid Corporation of the Philippines (NGCP) is planning to acquire power facilities that have been classified as transmission assets to better manage and uphold the security and integrity of the nationwide power grid, power transmission service provider and grid operator. At present, the NGCP continues evaluating the other assets controlled by other individuals in the entire country, for the purpose of transmission, and whether there is a need to be transferred to NCGP.

Kuwait’s NBK issues commitments for groups in Zour North bids

November 1, 2011. Five groups are bidding to build Kuwait’s Al-Zour North power plant, according to National Bank of Kuwait SAK, which is seeking to finance the project with a price tag of as much as $3 billion. The bank, the country’s biggest lender, has issued bid bonds for four of the five groups. Kuwait, the fifth-biggest producer in the Organization of Petroleum Exporting Countries, in March issued a tender for construction of the Al-Zour plant, one of the country’s biggest electricity supply projects. The five bidding groups include Mitsui & Co., Marubeni Corp., GDF Suez, Saudi-based ACWA Power International and Malaysia’s Malakoff International. The combined generation power plant will have a capacity of 1,500 megawatts and use 100 million imperial gallons of water a day. The country plans to choose a bidder by the end of this year. Kuwait’s government plans to hold a maximum of 10 percent of the company responsible for building the plant, while a strategic investor will hold 40 percent. The remaining 50 percent will be sold in an initial public offering. The government will sign a 40-year energy conversion and water purchase agreement for the project, with capital recovery payments to be received over the first 25 years. The project is to be funded through 80 percent debt and the remainder as equity. Al-Zour North, to be built in the south of the desert Gulf state, is expected to start operations at the beginning of 2014. The project is part of the country’s 30.8 billion dinar development plan aimed at modernizing and restructuring Kuwait’s oil-based economy.

Japan winter power enough despite nuclear lack: govt

November 1, 2011. Japanese utilities will largely avoid power shortages this winter despite prolonged reactor shutdowns amid public concerns over nuclear safety, but hurdles remain for next summer, the government said. It also unveiled ways to bridge the gap next summer, when peak-hour demand is expected to exceed supply by 16,560 megawatts, compared with the biggest gap this winter of 2,530 MW in one area, if no reactors restart by then. Utilities plan to secure additional fossil-fuel capacity of 4,090 MW by next summer, but other plans depend on how far policy initiatives, such as fiscal spending, can encourage energy conservation and the use of solar and wind power, leaving the risk of rolling blackouts. A rise in fuel costs for utilities to make up for a lack of nuclear power, leading to bigger electricity bills for consumers, is another factor undermining the economy. Using gas and oil to make up for the loss of all nuclear power reactors will cost more than 3 trillion yen ($38 billion) a year, based on imported fuel prices and utilization rates in 2009, the government has estimated. The ongoing radiation crisis at Tokyo Electric Power Co's Fukushima Daiichi plant, triggered by the March earthquake and tsunami, has shaken public confidence in nuclear safety, forcing watchdogs to set stricter regulations for restarting reactors closed for regular checks.

Belgium agrees on conditional nuclear exit plans

October 31, 2011. Belgium's political parties have reached a conditional agreement to shut down the country's two remaining nuclear power stations, owned by GDF Suez unit Electrabel. The plan for a shutdown of the three oldest reactors by 2015 and a complete exit by 2025 is conditional on finding enough energy from alternative sources to prevent any shortages. Belgium, which has seven nuclear reactors at two plants, had passed a law in 2003 outlining the planned shutdowns.

Fukushima plant released record radiation

October 31, 2011. The destroyed Fukushima nuclear plant in Japan was responsible for the biggest discharge of radioactive material into the ocean in history. The radioactive cesium that flowed into the sea from the Fukushima Dai-Ichi nuclear plant was 20 times the amount estimated by its owner, Tokyo Electric Power Co.

EDF said to extend discussions to gain full control of Edison

October 31, 2011. Electricite de France SA is set to extend discussions by a month with Italian shareholders of Edison SpA over gaining full control of Italy’s second-biggest utility. EDF, Europe’s biggest power producer, has been seeking for more than a year to take full control of Edison to gain access to gas resources and markets in southeastern Europe and the Mediterranean basin. The French company owns 50 percent of Edison through direct and indirect stakes.

Coal purchase price of power plants keeps rising in China

October 30, 2011. According to industry portal China Coal Resource the coal purchase price of coastal power plants in eastern China continued to rise in mid October. During the period from October 11 to 20, the purchase prices of Shanghai Shidongkou No. 2 Power Plant, Huaneng Nantong Power Plant and Huaneng Taicang Power Plant for Datong coal with calorific value of 5000 and 5500 kilocalories per kilogram were quoted at CNY 795 and CNY 895 per tonne respectively rising CNY 5 per tonne from the previous ten day period, and for that of 5800 kilocalories per kilogram at CNY 945 per tonne up by CNY 5 per tonne or 0.53%. The prices have been on rise for over one month, with a combined increase up to CNY 25 per tonne. The continuous price rise mainly resulted from pre-winter stocking by power plants. However, the purchase prices for meagre lean coal with calorific value of 5000 and 5500 kilocalories per kilogram remained at CNY 760 per tonne and CNY 800 per tonne at Shanghai Shidongkou No 1 Power Plant and Tiansheng Port Power Plant.

Japan's Fukushima plant dismantling needs over 30 yrs

October 28, 2011. Japan will likely need more than 30 years to dismantle the tsunami-crippled Fukushima nuclear power plant, the Atomic Energy Commission said, underscoring its prolonged challenges after the world's worst nuclear accident since Chernobyl.

Tepco to ask for $12 bn to help with compensation

October 28, 2011. Tokyo Electric Power has asked for about 900 billion yen ($12 billion) as the first installment of tax payer-funded assistance to pay for compensation from the crisis at its Fukushima nuclear plant. The utility plans to submit a special business plan to Trade Minister Yukio Edano, whose approval is necessary for the firm to receive the money from a government-sponsored bailout body. The utility, known as Tepco, does not yet know the total size of compensation payouts as the fight to bring the crippled reactors under control rumbles on. The trade minister's approval on Tepco's business plan, which includes cost-cutting measures, is expected to come in early November. The plan is also likely to include a request for financial assistance from lenders, including additional loans from the state-run Development Bank of Japan. The bailout body, funded by public money and contributions from nuclear power operators, has been set up to help Tepco to meet compensation claims, with the troubled utility required to pay back the money in the coming years. The business plan to be submitted will concern funds the firm needs for the immediate future. It is expected to come up with a more comprehensive plan early next year to get further money from the bailout body.

Himachal project set to get carbon credits

October 31, 2011. The United Nations Framework Convention on Climate Change has registered for carbon credits the ` 365-crore Himachal Pradesh Mid-Himalayan Watershed Project being co-funded by the World Bank. This is the first project on public land in India registered for carbon credits. Under the Kyoto Protocol on climate change industrialised nations are mandated to meet targets of reducing greenhouse gas emission responsible for causing global warming which was leading to climate change. If they are unable to bring down emissions, countries or companies operating in these regions, have the option of buying carbon credits from projects which have been awarded these credits by the UN clean development mechanism (CDM). The Himalayan Watershed Project will thus accrue millions of carbon credits which will benefit about 5,000 families from remote and backward villages in the state, receiving revenue for the next 20 years from the World Bank for providing green cover to 4,000 hectare barren land area falling in 10 districts. The project will reduce 40,000 tonnes of carbon dioxide per year for a 20-year crediting period beginning from 2006. Initially for 20 years, the project can also be extended to a total of 60 years. Under the Emission Reductions Purchase Agreement, the World Bank will buy 3.5 lakh temporary certified emission reductions (tCERs) for plantations raised over 4,003 hectares in the first phase covering the period 2006-2018 depending on the growth of biomass. The programme would be implemented through the Joint Forest Management Committees, and so far around 400 such committees had been formed at the hamlet level.

Growing interest in India’s National Solar Mission

October 31, 2011. Earlier this month, over 150 solar companies bid for the “second batch” of projects allotted under Phase 1 of India’s National Solar Mission. This sustained and arguably growing interest in the solar energy program is largely attributed to the Indian government’s modifications to the Solar Mission Guidelines.  NRDC and Council on Energy, Environment and Water (CEEW), have been discussing perspectives on the Solar Mission with key solar energy stakeholders, including the government, the industry and the industry observers over the past month.

Prices of renewable energy certificates up 17 pc in October

October 31, 2011. Price of renewable energy certificates grew by 17% in October to ` 2,700 due to rise in demand. The certificates, commonly knows as green tags across globe, were available at ` 2,300 apiece in September, India Energy Exchange said. Green tags are tradable instruments on the lines of carbon credits. Owners of these certificates can claim to have produced green energy and avoided carbon emissions. The certificates help state distribution utilities that have to buy a portion from renewable projects and to industrial consumers Global Energy Pvt Ltd, GMR Energy Ltd, Instinct Infra & Power Ltd, Knowledge Infrastructure Systems Private Ltd, Manikaran Power Ltd, Mittal Processors Ltd, National Energy Trading & Services Ltd, PTC India Ltd, Reliance Energy Trading Ltd, REConnect Energy Solutions Private Ltd and Tata Power Trading Ltd were the major traders in October. NLDC, the nodal agency renewable energy certificates market, issued 1,22,889 certificates during October against 74,612 in September. Presently, eligible generators registered with the agency are 192 projects having 1241.17 MW capacity. One solar project of 8.5 MW has also been accredited. Market share of India Energy Exchange in October trade session was 97%. The current trading session saw 90 buyers and 39 sellers participating in the trading. Open access and captive power consumers also purchased significant number of renewable energy certificates.

Suzlon gains on completion of REpower squeeze-out

October 28, 2011. With the squeeze-out process, Suzlon Energy has achieved full control of its German subsidiary, REpower Systems by acquiring all of its shares. Suzlon acquired a stake in REpower in May 2007. REpower is a recognized technology leader with a strong presence in Europe. It controls approximately 10% of the German market share. It has a capacity of 1,250 megawatt (MW) with a planned expansion of an additional 450 MW. REpower manufactures medium to high capacity WTG (1.5 to 5 MW) and has an employee strength of 1,150. The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity, at the end of 2010. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 18,000 MW of wind energy capacity installed in 28 countries, operations across 32 countries and a workforce of over 13,000.

India is proactive in dealing with climate change, says Maldives President

October 28, 2011. Maldives President Mohamed Nasheed said that India is constantly investing and assisting in climate change at a rate much higher than several other developed nations. Appreciating Indian policies surrounding climate change, he said that India's contribution has been phenomenal and higher than many other developed countries. The 54-nation Commonwealth Heads of Government Summit Meeting (CHOGM) is presently being held in Perth. Meanwhile, Nasheed hoped that the meet emerges to be a concrete step towards improving trade and investment agreements between the Commonwealth nations. Nasheed further said the relations between India and Maldives are at an all time high and will continue to strengthen in times to come. This summit also holds great importance for India, as it is the largest member of the Commonwealth.

Government subsidy to villages using solar power

October 27, 2011. In order to promote solar power, the government is subsidising the technology. Besides, efforts are also on to encourage people to get into using the solar energy equipment. In rural areas, the village pradhans who are willing to set up a solar power plant are given 50% subsidy by the government, for up to 200 MW. In some of the villages, such efforts have already paid off.

India at 'extreme' risk from climate change

October 27, 2011. A third of humanity, mostly in Africa and South Asia, face the biggest risks from climate change but rich nations in northern Europe will be least exposed. Bangladesh, India and the Democratic Republic of Congo (DRC) are among 30 countries with "extreme" exposure to climate shift.

EU biodiesel output hit by high imports

November 1, 2011. European Union biodiesel imports are rising sharply and the bloc's own 2011 production of the fuel is likely to fall partly because of heated competition from outside supplies. In 2010, the EU imported 1.1 million tonnes from Argentina and 516,000 tonnes from Indonesia and Singapore. Italy's 2011 biodiesel output is likely to fall 40 percent on the year to 450,000 tonnes, while Spain's is likely to drop 31 percent to 550,000 tonnes. Top producer Germany is likely to see 2011 output decline to 2.73 million tonnes from 2.80 million tonnes and output in second largest producer France will fall to 1.87 million tonnes from 1.98 million tonnes. The "alarmingly low levels" of EU biodiesel production capacity use has generated calls from Spanish and Italian producers for government support and measures to curb imports. EU bioethanol producers called for an investigation into whether imports of U.S. bioethanol receive unfair subsidies.

Ener1 joins Solyndra as troubled recipients of U.S. government aid

November 1, 2011. Ener1 Inc., one of 30 recipients of U.S. Energy Department grants to produce electric-car batteries, is the latest recipient of the agency’s aid to run into financial trouble and draw congressional scrutiny. Ener1, whose shares were delisted from the Nasdaq Stock Market, was promised $118.5 million in department grants for its EnerDel unit in 2009 from President Barack Obama’s economic stimulus package. Johnson Controls Inc. and A123 Systems Inc. (AONE) received money for battery production. The Energy Department, which faces congressional investigations for its support of failed solar-panel maker Solyndra LLC, is “closely monitoring the status” of Ener1. Republican lawmakers have questioned the Energy Department’s $535 million loan guarantee for Solyndra, which filed for bankruptcy protection after struggling to raise private financing, and Russian steelmaker Severstal OAO (CHMF), which received a guarantee from an electric-vehicle loan fund. Ener1, based in New York, received the fifth-largest grant under the stimulus program for electric-drive vehicle batteries and components. Johnson Controls Inc. (JCI), the largest U.S. auto supplier, received the biggest grant, $299.9 million. It was followed by A123 Systems Inc., which last month signed a contract to supply batteries for General Motors Co. (GM)’s electric Chevrolet Spark, which the automaker plans to sell beginning in 2013.

European bank lending squeeze begins to curb solar-panel demand

November 1, 2011. European banks are tightening credit lines for solar power developers, reducing demand for photovoltaic panels in the world’s largest market for the technology. Renewable Energy Corp. and Canadian Solar Inc. (CSIQ), said banks are paring short-term revolving credit lines for solar energy developers. Germany, Italy and Spain were the three biggest markets for solar energy, fueling sales for REC and Canadian Solar as well as their rivals. Banks that loaned to finance those projects are working to rebuild balance sheets to cope with an economic slump and concerns about the value of Greek and Italian bonds they hold in their reserves.

LDK Solar plans to triple polysilicon capacity as material prices fall

November 1, 2011. LDK Solar Co. Ltd., the second- largest maker of wafers, plans to triple its capacity to produce polysilicon by 2014 as prices for the raw material for solar panels dropped to levels not seen in eight years. The Chinese company started building a factory that will help boost its annual production capacity for polysilicon to 55,000 metric tons by the end of 2013 from 17,000 tons now to make it one of the world’s biggest manufacturers. The plant in Hohhot City, Inner Mongolia, will be able to make 30,000 tons of the material a year.

Kenya to start work on new geothermal plant

November 1, 2011. Kenya Electricity Generating Company (KenGen) said it will sign a contract with a consortium to build its 280 megawatt (MW) Olkaria IV geothermal plant meant to be operational in 2014, as it pushes to diversify its power sources. KenGen said an extra 202 MW would be injected into the national grid from a mix of thermal power, renewable energy and rehabilitation of an existing hydropower dam. The total cost of Olkaria IV -- an extension of Olkaria I and II plants that already produce a total 115 MW -- is $1 billion. The consortium comprising Japan's Toyota Tsusho Corp and South Korea's Hyundai Engineering & Construction, is expected to begin construction of the geothermal plant. The plant is funded jointly by the Kenyan government, World Bank, Germany's Development Bank KfW, European Investment Bank, Japan International Corporation Agency and French Development Agency, AFD and KenGen. Kenya is the first African country to drill geothermal power, tapping the vast steam energy is the country's Rift Valley region. The country has potential to produce 7,000 MW and is targeting production of at least 5,000 MW of geothermal power by 2030.

Rio Tinto, Tata, Ineos seek relief from U.K. carbon floor rules

November 1, 2011. Rio Tinto Plc (RIO), Tata Steel Ltd. (TATA) and Ineos Group Holdings Ltd. are among “dozens” of U.K. companies that will seek relief from climate-protection measures including the so-called carbon floor price proposed earlier this year, said an industrial lobby group.

Most non-Chinese rare earth projects doomed

November 1, 2011. The vast majority of non-Chinese rare earth metal (REM) ventures will fail due to a lack of expertise and high ore processing costs. Firms were quick to launch new mines and restart mothballed operations as soon as China, which controls about 95 percent of the REM market, started slashing its export quota in 2009. Of the 244 companies hoping to produce the rare earth metals essential to a wide range of high-tech industries, less than 4 percent will prove profitable, the strategic metals consultant. Prized for their magnetism, luminescence and strength, rare earths are used by manufacturers of everything from smartphones to hybrid cars and wind turbines, but the elements occur together in the earth in different proportions and the separation process is complex and expensive. Heavy rare earths such as dysprosium and terbium, crucial for the high-power magnets needed by the auto, defense and clean energy industries, are scarcer than cerium and other light rare earths, making them much more valuable.

U.S. auto dealers fight Obama fuel rules

November 1, 2011. U.S. auto dealers are working to undo the Obama administration's fuel efficiency agenda, replacing car companies that for years kept such mandates at bay with the help of allies in Congress. The car industry is facing dramatic new standards that would double efficiency targets to 54 miles per gallon by 2025, under an administration plan unveiled in July and set to be officially proposed in the coming weeks. Automakers have traditionally carried the torch for modest fuel efficiency mandates, arguing that aggressive targets could drive up vehicle cost, compromise safety, and limit consumer choice. But car executives agreed to the ambitious targets during negotiations this spring, going along with an administration that rescued the U.S. industry from collapse in 2009. General Motors and Chrysler owe their continued existence to Obama, and taxpayers still own a third of GM.

Green groups give EPA more time on CO₂ rule

October 31, 2011. Green groups said they would give the Environmental Protection Agency more time to forge the first-ever plan to regulate carbon dioxide from power plants, the country's single biggest source of greenhouse gases. The Environmental Defense Fund and other green groups that are negotiating with the EPA on the deadline for the plan said they would withhold legal action against the agency until November 30. They, along with New York, California and several other states, had sued the agency to issue the carbon rules. The EPA delayed the proposed rule on power plants in June, saying it needed more time after talking with businesses, states and green groups on how the plan would work. It issued another delay in September. The agency is preparing its most ambitious clean air rules in decades, but is under pressure from Republicans in the House of Representatives and polluters who say the rules would kill jobs and add billions of dollars in costs to businesses. Some Democratic lawmakers from energy-intensive states also want the agency to slow down its air rules, and opponents have already had some success. President Barack Obama directed the EPA in early September to delay a major rule on smog pollutants, forcing the EPA Administrator to embrace a George W. Bush-era smog rule that she previously described as legally indefensible. The EPA said it plans to announce its next steps shortly on cost-effective and protective power plant standards. Limits on greenhouse gases at power plants could add costs to power generators, including American Electric Power and Southern Co.. If less coal is burned as a result of the rule, it could also hurt miners such as Peabody Energy Corp and Consol Energy. The EPA is also crafting rules to limit greenhouse gas emissions from oil refineries.

Beacon Power bankrupt; had U.S. backing like Solyndra

October 31, 2011. Beacon Power Corp filed for bankruptcy just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program. The bankruptcy comes about two months after Solyndra -- a solar panel maker with a $535 million loan guarantee -- also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create "green energy" jobs. Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York.

Vestas rating put on review at DZ Bank after ‘severe’ profit cut

October 31, 2011. Vestas Wind Systems A/S had its “buy” recommendation at DZ Bank AG put on review after the wind turbine maker cut its full-year profit forecast. The fact that the profit warning is based on ramp-up problems and not on weak demand or other execution problems is certainly surprising. Vestas’ new forecast is “way below expectations” as it was a “severe profit

U.K. plans 55 pc cut in subsidy rates for solar power production

October 31, 2011. The U.K. government proposed a reduction of as much as 55 percent for the price paid for solar power, part of an effort to keep a lid on electricity costs and reflect lower costs for panels. Feed-in tariffs granting above-market rates would be scaled back at least 51.5 percent for solar projects installed starting Dec. 12. The new rates come into effect in April. Existing plants and those built before the date will get current rates for 25 years. The U.K. follows countries such as France, Germany and Italy in cutting incentives to limit costs for consumers. Britain has installed more than 100,000 solar farms with about 400 megawatts since the program started in April 2010. The average cost for an array of solar panels in the U.K. has fallen by at least 30 percent since then. The Department of Energy and Climate Change released a consultation document detailing the proposals for the new rates and is inviting the industry to comment until Dec. 23. It proposes to cut incentives for residential projects with less than 4 kilowatts by 51.5 percent to 21 pence. Projects with 4 kilowatts to 10 kilowatts will receive 16.8 pence, or 53 percent less. Plants with 10 kilowatts to 50 kilowatts will qualify for 15.2 pence, or a 55 percent cut. Larger plants would see smaller reductions, since they had rates reduced during an emergency review in May.

Statoil says Japan on its ‘watch list’ for offshore wind plans

October 31, 2011. Statoil ASA (STL), Norway’s largest oil and natural gas company, is looking to develop offshore wind in Japan as that nation promotes more renewable investments. Statoil, like European power companies including RWE AG (RWE), Dong Energy A/S, Vattenfall AB and Centrica Plc (CNA), is developing offshore wind parks as markets such as the U.K., Germany and Denmark add wind farms at sea to curb emissions. Statoil is refining its floating wind turbine concept while Japan hones plans to install this type of machine off Fukushima following the March earthquake and tsunami that devastated the region and led to reduced nuclear power capacity.

Climate impasse could kill carbon offset investment

October 31, 2011. The failure of U.N. climate talks to clarify the future of the Kyoto Protocol and its market-based mechanisms could dry up investment in the carbon offset market, possibly threatening prices that are already trading near record lows. A legally binding pact is unlikely to be agreed at the climate summit in Durban, South Africa, which starts November 28, as governments continue to wrangle over emissions cut commitments and climate aid. Many do not see such a deal emerging until 2014 or 2015.

Kyoto will not be buried in Durban: lawmaker

October 31, 2011. The Kyoto Protocol cannot be laid to rest at a U.N. climate summit in Durban as the legitimacy of the 1997 global climate pact will be undermined. International negotiators are due to meet in South Africa aiming to make progress on a new global binding climate pact to succeed Kyoto but expectations are low as rifts from previous summits continue. The first commitment period of the 1997 Kyoto Protocol ends. The pact was intended to limit the adverse effects of climate change but only obliged developed countries to reduce greenhouse gas emissions. The United States, one of the biggest emitters in the world, never signed the deal and developing countries like China have since become major emitters. Russia, Canada and Japan have said they will not sign up for another Kyoto commitment period when the current one expires in 2012.

Traditional farm methods help climate adaptation

October 31, 2011. Traditional agriculture methods could help protect food supplies and make agriculture more resilient to the effects of climate change, a report by the UK-based International Institute for Environment and Development (IIED) said. Traditional knowledge, rather than modern methods, has helped indigenous people in countries like China, Kenya and Bolivia to cope with extreme weather and environmental change, the report said.

China paper says U.S. solar complaint driven by envy

October 30, 2011. An anti-dumping complaint filed by U.S. solar firms against their Chinese counterparts is driven by envy at China's rapid growth in the field and goes against global efforts to fight climate change, said a paper by Chinese analysts. Seven U.S. solar manufacturers this month asked the Obama administration to impose duties of more than 100 percent on China solar imports, which they said were unfairly undercutting U.S. prices and destroying American jobs.

S. Korea industry groups seek emissions law delay

October 30, 2011. Fifteen South Korean industry groups will ask parliament to delay approval of a trading system for carbon-dioxide emissions. The chamber, which has 120,000 company members, and the Federation of Korean Industries have asked the government to delay implementing emission trading on concern it will raise costs and result in a loss of market share to rivals from countries that neither tax nor cap emissions.

Airlines ready for next battle against EU carbon law

October 30, 2011. Twenty-six nations are expected to lodge a formal protest against a European Union law to make airlines pay for carbon emissions -- adding to transatlantic tension on an issue that has triggered a tit-for-tat bill in the Congress.

Under EU legislation, from January 1 all flights to or from Europe will have to buy carbon permits to help offset their emissions under the EU Emissions Trading Scheme (EU-ETS) -- the 27 member bloc's prime tool for trying to curb the amount of carbon in the atmosphere.

For snow and lawn machines, gasoline remains king

October 29, 2011. In America's quest for cleaner fuel, at least one major U.S. industry is holding on to the sputter and grime of the internal combustion engine. From log splitters to snow blowers, the $15 billion outdoor power equipment industry sells tens of millions of oil-powered machines a year to U.S. landscapers, loggers, homeowners and a litany of other buyers. While lawn mowers get faster, snow blowers cover more ground and handheld products get lighter, their propulsion has barely changed beyond getting more mileage out of gasoline.

Desertec to start work on first solar plant in 2012

October 29, 2011. Desertec, the world's most ambitious solar power project, is to start building its first power plant next year, a 500 megawatt (MW) facility in Morocco costing up to 2 billion euros ($2.8 billion). Founded by mostly German companies in 2009, the 400 billion euro Desertec project will use mirrors to harness the sun's rays to produce steam and drive turbines for electricity generation in the Sahara region within the next decade. The first phase of the 12-square-kilometre Moroccan complex will be a 150 MW facility costing up to 600 million euros that will take two to four years to build.

White House to review energy loans, post-Solyndra

October 29, 2011. The White House said it would conduct an independent review of the Energy Department's loan portfolio following the collapse of Solyndra, the solar panel maker that went bankrupt last month after receiving a hefty federal loan guarantee.

Rolls-Royce talking to developers, utilities about U.K. tidal farms

October 28, 2011. Rolls-Royce Holdings Plc, the world’s second-largest aircraft engine maker, said it’s in talks with project developers and utilities to install tidal energy turbines in Scottish and Irish waters. Rolls-Royce, which owns the ocean turbine maker Tidal Generation Ltd., is testing a 500-kilowatt machine at the European Marine Energy Center in Orkney.

UK to announce solar tariff changes

October 28, 2011. Britain's energy ministry said it will launch a review of state subsidies for solar power installations, the second change to the scheme since it started in April 2010. The ministry also said leaked consultation documents on the Internet, which proposed a 50 percent cut, were inaccurate. The government's spending envelope for the subsidies scheme is around 860 million pounds ($1.38 billion), but generous levels for solar have resulted in greater-than-expected uptake. The government fast-tracked its first review into solar subsidies earlier this year, cutting rates between 40-70 percent for solar plants larger than 50 kilowatts.

Denmark welcomes China in from the Arctic cold

October 28, 2011. China has legitimate economic interests in the Arctic, Denmark's ambassador said welcoming partnership with Beijing in the rapidly thawing polar region but adding that a possible resource rush would come with obligations. With climate change linked to melting ice caps in the Arctic, the prospect of untapped hydrocarbons, fishing grounds and new summer shipping lanes has whetted China's appetite for polar research and exploration capabilities.

World Bank approves $250 mn for Eskom solar, wind plants

October 28, 2011. The World Bank’s board approved a $250 million loan for South African power utility Eskom Holdings SOC Ltd.’s Sere wind power plant and Upington concentrating solar plant projects.

GE unit, Germany’s KGAL jointly invest EU111.1 mn in plant

October 28, 2011. General Electric Co. (GE)’s GE Energy Financial Services unit said it and the German fund KGAL will invest 111.1 million euros in a 50-megawatt solar thermal plant using parabolic trough mirrors in Badajoz, Spain. The plant at Torre de Miguel Sesmero also will use a molten salt system, allowing for energy storage.

Exelon backs controversial EPA clean air rules

October 28, 2011. Chicago-based Exelon Corp said the Environmental Protection Agency should move quickly to finalize its Cross-State Air Pollution Rule and other delayed measures, adding it would be cheaper than subsidizing some renewable power technologies.

Exelon's statement comes as U.S. power producers take sides in the federal push to reduce dangerous emissions from coal-fired power plants and makes the biggest U.S. nuclear reactor operator the most vocal industry supporter of stringent EPA rules.

Global CO₂ emissions may rise 7 pc after Fukushima nuclear crisis

October 28, 2011. Global carbon dioxide emissions may rise by 7 percent by 2035 should the Fukushima nuclear disaster slow the pace of expansion in atomic power generation, a Japanese study said. Greenhouse gas emissions may increase by 2 billion metric tons annually by 2035 if fossil fuels substitute any reductions in planned output from atomic reactors, the Institute of Energy Economy, Japan said in its Asia/World Energy Outlook 2011. The report predicts there will be a slowdown in the expansion of nuclear power outside Asian countries such as China and India after the catastrophe at the Fukushima Dai-Ichi nuclear plant north of Tokyo, the worst civil atomic disaster since Chernobyl in 1986. The report from the government-run institute estimates global nuclear power generation will expand by 110 gigawatts from 2010 to 500 gigawatts by 2035, according to the institute. Before the Fukushima crisis, atomic power was expected to increase to 574 gigawatts. Should all nuclear stations be closed and fossil fuels used instead, another 2 billion tons of carbon dioxide will be released by 2035, according to the report. Tokyo Electric Power Co.’s Fukushima plant has been discharging radiation since the March 11 earthquake and tsunami knocked out cooling systems, causing three meltdowns and explosions. The catastrophe forced 160,000 people to flee radiation and damaged fishing, farming and forestry businesses.

Political signal needed to secure UN carbon market’s future, Norway says

October 27, 2011. Climate envoys should send a “political signal” at the upcoming summit on their willingness to continue the United Nations carbon market to allay investors’ concerns about its future. More than 190 nations will meet in Durban, South Africa, from Nov. 28 until Dec. 9 to discuss climate-protection rules for the period after 2012, when the current emission-reduction targets for developed nations under the Kyoto Protocol expire. Systems designed under the protocol, including the UN Clean Development Mechanism, should continue, Norway’s chief climate negotiator Henrik Harboe said. The UN carbon offsets program, the world’s second biggest, was started in 2005 to help developed countries meet their emission-reduction commitments under the Kyoto Protocol, while at the same time furnishing developing regions with climate- protection tools and funding. The CDM, which generates credits for investment projects that cut carbon in poor nations, shrank 46 percent to $1.5 billion last year, according to World Bank estimates.

EU climate chief: science shows Canada oil sand risk

October 27, 2011. The European Commission's plans to class fuel from oil sands, including Canada's, as highly polluting are based on science and it will proceed with talks with EU member states to implement the measure, its climate commissioner said. Canada, which has huge deposits of the unconventional crude oil, has hit back fiercely at a European Union proposal to label oil sands as carbon-intensive, in a ranking designed to help fuel suppliers choose the most environmentally friendly option. Canada fears the ranking could damage the market for its oil. Natural Resources Minister Joe Oliver has said the Commission's proposal is based on politics, not science.

Germany plans record solar-subsidies reduction, may see installation rush

October 27, 2011. Germany, the world’s biggest solar- panel market, will cut subsidies for photovoltaic power by a record amount as the government tries to control the pace of installations and wean the industry off support. Rates under the feed-in-tariff system will be reduced 15 percent from Jan. 1, 2012, after Germany added about 5.2 gigawatts of panels in the year through Sept. 30. Power from panels will earn 17.94 euro cents (25 cents) to 24.43 euro cents a kilowatt-hour.

DoCoMo plans low-cost solar power system for homes

October 27, 2011. NTT DoCoMo Inc plans to release a portable household solar power system that will cost about 100,000 yen ($1,315). The system will consist of a small solar panel and a small-capacity storage battery and will be sold as early as next year. The power system will deliver a power output of about 1kw and will be used as an emergency power source for personal computers, lighting equipment and other consumer electronics. The cellular phone service provider plans to develop the system jointly with electrical machinery makers in and outside Japan. DoCoMo is looking to sell the system through its roughly 2,400 affiliated stores across the country. The company may later develop large solar power systems and will team up with homebuilders and discount electronics stores. Panasonic Corp and other electrical machinery companies have also announced their plans to develop equipment for smart homes, where a variety of energy-saving technologies are employed.

Greece to use solar project revenue to pay debt, EU says

October 27, 2011. Greece will use future revenue from the country’s ‘Helios’ solar energy project to cut debt by as much as 15 billion euros ($21 billion). Named after the ancient god of the sun, Helios is a 20 billion-euro project that plans to attract investors to Greece to install as many as 10 gigawatts of solar panels by 2050. Greece aims to secure a framework agreement with European partners for the project and in December will organize jointly with the European Commission a two-day conference on energy in Greece where one day will be devoted to Helios and its implementation.

Promising biodiesel crop needs time to prove itself

October 27, 2011. Several new companies are betting on the little-known pongamia pinnata tree as a biodiesel feedstock that does not hurt food production, but a decade or more of research and development is still needed to determine its value as a commercial crop. Pongamia pinnata, also known as millettia pinnata, is native to Australia, India and parts of southeast Asia. Its oil has so far been used in medicines, lubricants and oil lamps. Pongamia is attractive because, after six years of cultivation, its oil yield is estimated to rise to around 23 tonnes per hectare per year -- almost double yields of 12 tonnes from jatropha, another tree that is a biodiesel feed crop, and 11 tonnes from palm oil.

U.S. eyes "green growth" trade deal at APEC

October 27, 2011. The United States hopes to persuade China and other Asia-Pacific countries to agree on a deal to tear down barriers to trade in environmental goods and services when regional leaders meet next month in Hawaii. While Australia, New Zealand and some others support the U.S. push, some of the other 21 members of the Asia Pacific Economic Cooperation forum are resisting, Kirk said, without identifying any holdouts by name.

Namibian capital needs "water banks" for dry times

October 26, 2011. Namibia's capital, Windhoek, is four years from running out of water should a recent pattern of above-average rains end and it needs to start filling aquifers artificially to counter the threat. With administrations across Africa struggling to meet the needs of rapidly urbanizing populations, the city of 300,000 in the middle of the arid southwest African nation serves as a perfect test case for better water management. Every year, its people and businesses consume 25 million cubic meters, or 10,000 Olympic swimming pools, of water from three reservoirs near the city. However, in 12 months these reservoirs will also lose more than 37 million cubic meters to evaporation -- a problem that is avoided if water is pumped underground into aquifers, or large chunks of porous rock.

Kuwait sets biggest gulf clean-energy goal to boost oil exports

October 26, 2011. Sun-drenched Kuwait, a desert nation with no solar-power plants and electricity demand that’s growing about 8 percent a year, has set the most ambitious target for using renewable energy in the Gulf region. OPEC’s fifth-biggest oil producer, whose air conditioners run cheaply off state-subsidized oil-fired power plants, aims to generate 10 percent of its electricity from sustainable sources by 2020. Kuwait is trying to free up oil for export and expand its generation capacity to support increased tourism, manufacturing and home building in a $112 billion development program. To meet its clean-energy target, which exceeds the 7 percent goal set by Abu Dhabi in the United Arab Emirates, Kuwait next must gather data on sunshine and wind speeds.

SSE withdraws plans for Waterhead Moor wind farm

October 26, 2011. SSE Plc, one of Britain's six big energy suppliers, pulled the plug on its plans to build a 72.5 megawatt (MW) wind farm in North Ayrshire, Scotland, citing construction and planning challenges. SSE Renewables has requested that the Scottish Government withdraw the application for the proposed wind farm at Waterhead Moor. SSE said the proposal was initiated before the site was designated as a European Special Protection Area, which added to its complexity. Onshore wind farm developments in Britain remain threatened by local opposition and approvals have hit an all-time low of 42 percent across the UK, and as low as 26 percent in England, industry figures show. SSE's announcement comes barely a week after the UK proposed to cut support for more mature technologies such as wind and hydro power, prompting utility Centrica Plc to say it would put two offshore wind projects under review. However, energy and climate change secretary Chris Huhne pledged Britain will become Europe's fastest-growing renewable energy producer, reassuring green energy investors spooked by a series of unexpected cuts to government subsidies.

Air capture technology ready by 2018: UK engineers

October 26, 2011. Geo-engineering technology to absorb climate-warming carbon dioxide emissions from the atmosphere can be rolled out by 2018, the UK's Institution of Mechanical Engineers (IME) said. The institution is demonstrating the air capture technology evening on a small scale as the UK government and academics meet to discuss its potential.

UK govt cuts biomass subsidy after EU pressure

October 26, 2011. The British government is reducing its planned subsidies for biomass following pressure from the European Commission, which said the aid was set too high, the UK's department for energy and climate change (DECC) said. DECC was planning to launch the Renewable Heat Incentive (RHI) for non-domestic generators on September 30, but the EC expressed concerns that the biomass tariff, at 2.7 pence per kilowatt-hour (KWh), was set too high. The programme aims to pay subsidies for the use of renewable energy technology for heating, starting with business customers and extending to households. DECC said that revised regulations had now been re-laid in parliament to reflect the required amendment to the tariff for large scale biomass.

U.S. installs over 1,200 MW of wind power in Q3

October 26, 2011. The U.S. wind industry installed just over 1,200 megawatts (MW) of wind power in the third quarter, and about 3,360 MW on the year so far. The American Wind Energy Association (AWEA), said there were also more than 8,400 MW under construction. The number of megawatts currently under construction was more than in any quarter since 2008 as the federal Production Tax Credit has driven as much as $20 billion a year in private investment, AWEA said. AWEA said wind energy was now more affordable than ever, and new installations across the country were saving consumers money on their electric bills, as utilities lock in long-term favorable rates.

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