REM - Renewable Energy
With the US presidency and both houses of Congress soon to be in Democratic hands, broad climate and clean-energy legislation is far more likely. Joe Biden will become President on 20 January, and he is expected to move quickly on climate issues.
Electricity from the 804-MW Mayflower Wind project, to be located off Massachusetts in the US, will now be cheaper than ever. Because of the recent extension of federal tax credits, Mayflower Wind’s price should drop to $70.26 per MWh.
Enel Green Power has farmed in a subsidiary of Qatar Investment Authority into its 800-MW renewables pipeline in South Africa and Zambia.
Siemens Gamesa has signed its first wind power project in Ethiopia with state-owned utility Ethiopian Electric Power (EEP).
The Nigerian government is confident that the World Bank-backed $1.6bn investment in the country’s transmission work will begin to be felt this year, with up to 7,000MW available through the grid.
The US Congress has passed extensions to tax credits for wind power and solar projects. The $2.3 trillion US Stimulus bill, signed into law by President Donald Trump, includes extensions to the federal production and investment tax credits.