An interesting and useful update from the team at Walker Morris LLP on The King’s Speech. Jeanette Burgess | Ben Sheppard | Richard Sagar | Lucy Gordon
The devil will always be in the detail as we wait to see how Labour actually plan to deliver these proposals and there are some very tricky / contentious pledges. Will we continue to see private rental sector landlords exit the market with the changes suggested?
For me it would be great to see the renewable energy market shine ☀ and Labour's desire for that is very encouraging.
"double onshore wind, triple solar panels, and quadruple offshore wind by 2030" that would be a great step forward.
Orbital Witness is a great platform to view and assess potential onshore energy sites and take your due diligence to another level with Orbital Copilot reporting on the mountain of legal diligence documents.
https://lnkd.in/eahdNv2T#LegalTech#LawTech#PropTech#PropData#GenAI
The Public Regulation Commission denied the merger of Avangrid (A Connecticut company that is member of the Iberdrola Group-a Spanish electric company with an international footprint).
There was an appeal but with no clear schedule to resolution Avangrid has thrown in the towel on an attempt to acquire PNM here in New Mexico.
The original deal was approved in October of 2020 with approvals from PNM shareholders, FERC, NRC and the PUC of Texas, but NM regulators denied the deal.
Avangrid still has its eyes on New Mexico for wind, solar and hydrogen projects despite the news of their termination with PNM. However, the funds they had lined up for NM will most likely go to projects lined up in New York and Maine.
I imagine the due diligence efforts on both sides (and the capital to make a deal like this possible) will not go to waste. I am curious to see who might step in and keep the conversations going with PNM?
#FERC#PUC#NewMexico#PNM#Avangrid#Iberdrola#Energy#utilities#grid#infrastructure#renewables#mergersandacquisitions#electricity#breakingnews
Avangrid Pulls Plug on Merger | | Santa Fe Reporter (sfreporter.com)
In recent months, the maritime industry has seen a surge in inquiries regarding the safe transportation of Battery Energy Storage Systems (BESS) on ships. As the world moves towards clean energy, these systems, often referred to as "energy storage cabinets" or "megapacks," are gaining prominence due to their pivotal role in the energy transition. Specifically, our focus here is on BESS equipped with lithium-ion batteries. How do we move them safely?
#energytransition#shipping#lithiumionbatterieshttps://lnkd.in/dcYqU2zn
🎉 🎉 No MW Cap for interconnection projects in MISO 🎉 🎉
On Friday (January 19th) FERC accepted in part and rejected in part MISO's proposed tariff revisions. Below is a very quick summary of what was accepted and what was rejected by FERC:
Accepted: MISO’s proposed Tariff revisions in Docket No. ER24-340-000 to increase milestone payments, adopt an automatic withdrawal penalty, revise certain withdrawal penalty provisions, and expand site control requirements for interconnection facilities, effective January 22, 2024, as requested.
Rejected: MISO’s proposed Tariff revisions in Docket No. ER24-341-000 to implement a cap on the total megawatt (MW) value of interconnection requests that may be studied in a cluster.
I know there was quite a bit of angst in the developer community over the last couple of months around the queue cap and its impact on future developments so hopefully this bring a sigh of relief. The full filing is available on FERC's website by searching for the docket number (https://lnkd.in/gR-PW2d7)
At Electric Power Engineers we are closely tracking updates across the industry and if you'd like to better understand how these changes impact your future projects, don't hesitate to reach out! Sam Bustillos, P.E.Kalyan C.#miso#interconnection
After discussions in the Parliament Lietuvos Respublikos Seimas and negotiations between the Ministry of Energy of the Republic of Lithuania/Lietuvos Respublikos Energetikos ministerija, Litgrid AB and private developers, today the Committee of Economy of the Parliament adopted the rule of 5 percent cap curtailment rule of yearly power generation from renewable energy source.
This corresponds the EU Regulation 2019/943 on the internal market for electricity and now will be embedded in the Electricity Law of Lithuania.
It comes following the decision by Constitutional Court Lietuvos Respublikos Konstitucinis Teismas, adopted on the 7th of November, saying that 2 GW quota and regulations adopting that quota were anti-constitutional.
This positive piece of legislation should eliminate financing uncertainties as it has a clear cap on the potential curtailment.
There are also other rules regarding curtailment introduced - if developer sells electricity on the day-ahead power market and then gets curtailed, his income is secured and compensated.
Also electricity generator, while being curtailed, will not incur balancing costs up to certain level, set by Litgrid.
Why are many leading Australian economists expressing concern around the Future Made in Australia (FMIA) policy when little detail has been made public?
Context is everything.
In the lead up to the FMIA announcement, the government announced Sun Shot $1b funding commitment to bring the solar supply chain to Australia. Politicians took photos 🤳 - everybody cheered 🌟 . Many people - particularly economists - were left scratching their heads 🤷♂️ because Australia has no obvious competitive or comparative advantage. Many billions have been lost by governments and industry in the solar game.
There next day, Fortescue announced its electrolyser facility opened, which benefited from federal and state government funding. Politicians took photos 🤳 - everybody cheered 🌟 . Two days later, Fortescue admitted they had no customers other than their own 50MW project. (But don't worry, they own the IP 😉) Over $45M of public funding to open a factory that is 97% underutilised in Year 1; and 100% underutilised in Year 2.
After these two events, FMIA was announced.
You can understand why economists are concerned...
Productivity Commissioner Danielle Wood was interviewed on The Insider's Podcast, and her comments are worth listening to. "Infant industries grow into hungry teenagers." Link below. Treasurer Jim Chalmers has been very mature addressing concerns, and has acknowledged Cmr Wood's comments and concerns.
Manufacturing is important for innovation and national security - but not just any manufacturing at whatever cost.
I look forward to the detail that will be released in the May budget.
#strategy#innovation#renewables#manufacturing
Exciting Updates from Today's King's Speech on Renewable Energy!
Today, we witnessed a pivotal moment for our industry as the King outlined the UK government's ambitious vision for the future of the UK’s energy landscape, focusing heavily on offshore and onshore wind and renewables.
I am thrilled to share some key highlights and what they mean for us.
Key Takeaways:
Accelerated Offshore Wind Development: The government aims to quadruple the current offshore wind capacity by 2030, with streamlined approval processes and increased infrastructure investment.
Support for Floating Offshore Wind Technology: Recognising its potential, the government is increasing funding for R&D and offering financial incentives to early adopters.
Comprehensive Renewable Energy Policy: This includes subsidies, enhanced grid infrastructure, training programs, and support for domestic supply chains.
Boost for Onshore Wind Projects: The government plans to remove barriers, provide financial incentives, and support rapid progress for onshore wind projects.
Environmental and Community Engagement: Stringent environmental regulations and community engagement to ensure sustainable and beneficial expansion of renewable energy projects.
What This Means to RS
Innovation and R&D: We will intensify our efforts to develop new solutions that support our customers in creating the next generation of wind farms. Our focus on innovation and research and development will drive advancements in this field.
Investment in Talent: By collaborating with our Education Team, we aim to establish a solution that addresses the skills gap in this rapidly expanding sector. We will connect the industry with our well-established student community, fostering the growth of skilled professionals.
Local Supply Chain: We have the opportunity to support our high-value customers in the offshore sector by providing tailored solutions and ensuring robust supply chain integration. Our collaboration with local SMEs will enhance their capabilities and foster strong partnerships, benefiting both our clients and the local economy.
Sustainability Initiatives: We will work closely with our ESG team to introduce innovative solutions that align with the government's renewable energy goals, such as our Better Word Products initiative. Our commitment to sustainability will drive progress in the renewable energy sector.
This is an exciting time for us and the industry. The King's speech has set a bold agenda, and we are ready to lead the way in this green revolution. Let’s continue to innovate, collaborate, and drive the future of renewable energy together!
https://lnkd.in/e3WY_5eF#RenewableEnergy#OffshoreWind#OnshoreWind#Sustainability#Innovation#GreenRevolution#RSEnergy#FutureOfEnergy#TalentDevelopment#LocalSupplyChain#wearers
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5moCongrats Denne' Smith PHR, MBA this is incredible!!