Eneco CEO Transition, Equinor Polish Offshore Deal
In this episode of Uptime News, Allen covers leadership changes at Eneco, historic renewable energy deals in Poland, strong support for wind energy in Ireland, and a surge in American clean energy investment.
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Welcome to Uptime News. Flash Industry News Lightning fast. Your host, Allen Hall, shares the renewable industry news you may have missed.
Allen Hall: Leading off the week, there’s a leadership change at a major European energy company. As Templeman is stepping down as CEO of Dutch Energy firm, Eneco on August 1st.
Templeman is leaving to become the new chief executive of lighting company, signify in September. Eneco says Kees Jan Rameau will serve as interim CEO starting July 4th. The company’s board has already started searching for a permanent replacement. Templeman joined an Eneco as CEO in July of 2020.
The supervisory board chair Mel Kroon says Templeman led the successful launch of the company’s one planet plan before Eneco. Templeman held senior positions at Shell across [00:01:00] Asia, Europe, the Middle East, and Africa. Over in Poland, energy companies have closed one of the largest renewable energy deals in European history. Norwegian firm, Equinor, and Polish company, Polenergia, have secured 6 billion euros in financing for two offshore wind projects. That’s about $6.8 billion. The companies say it’s the largest project finance deal in Poland’s energy history.
The Baltic two and Baltic three Wind Farms will feature 100 turbines with a combined capacity of 1.4 gigawatts. Polenergia, CEO Adam Purwin says they have secured financing from around 30 institutions. He says The company’s obtained exceptionally favorable terms despite challenging market conditions, construction has already begun.
Onshore marine operations will start next year. The wind farms should begin full commercial operation in 2028, and they’ll provide power to more than 2 million [00:02:00] Polish households.
And Irish citizens are showing strong support for wind energy development. A new national survey by Wind Energy Ireland found 80% of the public supports wind energy development, 62% back having a wind farm in the local area. The survey found people support wind energy because it offers more affordable electricity and reduces carbon emissions.
Energy independence was also a key motivator. CEO. Noel Cunniffe says, Irish people know wind power is the leading solution to rising energy costs and climate change. He says, wind power is already helping reduce electricity prices and create jobs.
75% of those surveys support offshore wind energy. 82% recognize its role in securing Ireland’s energy supply. Research shows Ireland’s offshore wind farms could generate 38 billion euros for the Irish economy by 2050.
And American clean energy investment continues to surge. The American [00:03:00] Clean Power Association says developers installed 7.4 gigawatts of new solar, wind and storage capacity in the first quarter. That represents $10 billion in domestic investment. The trade group says it was the second strongest start to a year on record.
Battery storage achieved record first quarter installations surpassing 30 gigawatts of total capacity nationwide. The development pipeline grew 12% to reach 184 gigawatts. That represents $328 billion in potential project investment. CEO. Jason Grumet says, clean power is shovel-ready at scale. He says the industry has a technology.
Investment capital and workforce needed. Grumet warns that the greatest threat to reliable energy is an unreliable political system. That’s this week’s top. News stories. Stay tuned for the Uptime Wind Energy Podcast tomorrow.
https://weatherguardwind.com/eneco-equinor-offshore/
Renewable Energy
ACORE Statement on Treasury’s Safe Harbor Guidance
ACORE Statement on Treasury’s Safe Harbor Guidance
Statement from American Council on Renewable Energy (ACORE) President and CEO Ray Long on Treasury’s Safe Harbor Guidance:
“The American Council on Renewable Energy (ACORE) is deeply concerned that today’s Treasury guidance on the long-standing ‘beginning of construction’ safe harbor significantly undermines its proven effectiveness, is inconsistent with the law, and creates unnecessary uncertainty for renewable energy development in the United States.
“For over a decade, the safe harbor provisions have served as clear, accountable rules of the road – helping to reduce compliance burdens, foster private investment, and ensure taxpayer protections. These guardrails have been integral to delivering affordable, reliable American clean energy while maintaining transparency and adherence to the rule of law. This was recognized in the One Big Beautiful Act, which codified the safe harbor rules, now changed by this action.
“We need to build more power generation now, and that includes renewable energy. The U.S. will need roughly 118 gigawatts (the equivalent of 12 New York Cities) of new power generation in the next four years to prevent price spikes and potential shortages. Only a limited set of technologies – solar, wind, batteries, and some natural gas – can be built at that scale in that timeframe.”
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ABOUT ACORE
For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to clean energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a clean energy economy. For more information, please visit http://www.acore.org.
Media Contacts:
Stephanie Genco
Senior Vice President, Communications
American Council on Renewable Energy
genco@acore.org
The post ACORE Statement on Treasury’s Safe Harbor Guidance appeared first on ACORE.
https://acore.org/news/acore-statement-on-treasurys-safe-harbor-guidance/
Renewable Energy
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