Impact on Economy
Note: counts do not include items in sub-categories
Babcock & Brown Ltd.'s fight to avoid becoming Australia's next victim of the credit crisis may depend on convincing bankers that it can sell assets in a market where others have failed.
Babcock slumped 51 percent in Sydney trading since Nov. 6, when ABN Amro Holdings NV analyst John Heagerty said the owner of wind farms and real estate may breach loan agreements next year. ...Babcock said June 16 it was "confident'' the wind assets would be sold this year -- an assumption Heagerty said may prove too optimistic.
"The sale of Babcock's wind assets is likely to be postponed further given the difficulties for the acquirers in obtaining financing,'' he said.
"It is important that we remain competitive in comparison with other countries. If not, a company of global stature like Bayer can think about moving its production to countries where energy costs are lower," he said.
BEDFORD — The county’s visitors bureau has spoken out against wind turbines, saying they will not boost tourism.
The U.S. government is committing billions of dollars to support renewable energy such as wind- and solar-power plants. Some say it should use more of that financial clout to encourage less energy consumption in the first place.
Advocates of conservation, including businesses that help homeowners and companies save energy, think there should be more subsidies and tax incentives for basics like insulation and window shading, and for newer, more costly products like light-emitting-diode lamps and building-automation systems.
"Iberdrola Renewables is focusing on operations in 2012 rather than new building due to low energy prices, a poor economy and regulatory uncertainty," Johnson said, adding that the company has a "solid balance sheet, positive cash flow and no real debt."
Germany plans to exempt 1,550 large firms from a power price surcharge that covers part of the cost of switching to renewable energy. Critics say the list of exemptions is spurious and unfair to households and small businesses. It risks undermining faith in the government's switch to clean power.
The new wind farm on the Big Island's South Point is steadily producing power for Big Island residents. But it's not steadily shrinking local electricity bills......
But the wind power isn't lowering electricity bills even though it is locally generated, unlike the imported oil the state is so heavily reliant on.
HELCO pays for the wind farm electricity by calculating the "avoided cost" or the cost the utility would have to pay if it were to build or generate power on its own.
Lee said rates vary because they are tied to oil prices.
Meridian has sent letters to its 2500 Marlborough customers informing them of the rise, which follows annual price rises by other electricity suppliers Trustpower (8.1 percent in June) and Contact Energy (nine percent in July last year).
Genesis Energy public affairs manager Richard Gordon said he could not recall any recent price rises and the company did not have any plans to do so for at least a year.
Meridian spokesman Alan Seay said electricity increases were never good news but that the price rise was necessary and reflected the overall cost of supplying electricity......Mr Seay said the considerable price increase in Marlborough was attributable to increasing demand in the South Island, where dairying and viticulture were flourishing. As a result, Meridian was investing money into new hydro schemes and wind farms in Wellington and Central Otago.
Amid references to his hockey team and jokes that fired up the nearly 200 in attendance, billionaire Tom Golisano, owner of the Buffalo Sabres and founder of the successful Paychex company out of Rochester, promoted his newest entrepreneurial endeavor, Empire State Wind Energy, on Monday night at the Albion Senior High School.
It wasn't the first occasion politicians and residents of Orleans County had gathered to hear heads of companies pass on details related to the often controversial topic of wind turbines. But, according to Golisano and his business partner Keith Pitman, their plan is different.
"I don't want to make the same mistakes as Niagara Falls," Golisano said in reference to what he views as unfair distribution of funds yielded from the Niagara Power Project. "If it's your energy and wind, why give it up? We started this company because we think we have a better idea."
According to Golisano and Pitman, that idea includes giving local municipalities more of the profits from wind energy, while leaving an option for ownership. In their view, outside companies work their way into the region, leaving taxpayers with a pittance of what they deserve.
Damaged rotor blades and forex losses caused the world's fifth-largest wind turbine maker Suzlon Energy post a consolidated net loss of Rs 34.90 crore for the quarter ended December 2008 against a Rs 142.8 crore profit in the corresponding previous quarter. ...Cracks were detected in 170 of the 1,250 blades for 400 turbines of the S88 V2 model supplied by Suzlon in 2007 to two of its major clients in the US -- Edison International and John Deere.
Like solar, wind generation varies greatly depending on weather conditions. Power prices have dropped to negative values already at times of extreme wind supply and low demand. ..."If Germany adds 5 GW of solar this year, we may end up with over 50 GW of volatile wind and solar capacity that can't be controlled according to demand."
In the meantime, Bluewater Wind continues to make promises to Delaware Lt. Governor, John Carney, who met with company officials recently says, they have an idea for pumping 150-grand into Delaware Tech. "They want to set-up a regional training program here for wind turbine technicians here in Delaware. The commitment to build the regional hub here for installation of the wind farms as well as the training program to provide training for workers to operate and maintain the turbines once they are installed is contingent upon approval of the project."
Bluewater Wind will build 150 energy-producing turbines off the coast of Rehoboth Beach by about 2014 at an estimated cost of $1.6 billion, according to a statement released this afternoon by Bluewater. ...Bluewater spokesman Jim Lanard put it more bluntly: "Our biggest concern is that Delmarva has a secret black box they may use to try to blow up the process."
Delmarva would pay 10.59 cents per kilowatt hour for the wind energy, McGonigle wrote. That's 1.05 cents higher than Bluewater's original bid.
Appalachian, a subsidiary of American Electric Power, had requested commission approval for contracts to purchase electricity generated by two separate wind farms -- Beech Ridge in West Virginia and Grand Ridge in Illinois.
Appalachian relies primarily on coal-fired power plants to generate the electricity it sells.
Financing for wind farms has disappeared and fewer companies will be able to develop the kind of "mega projects" needed to feed the growing demand for energy, said Reyad Fezzani, CEO of BP's wind and solar operations, at the Dow Jones Alternative Energy Innovations conference Wednesday.
In just the last month, money that typically would be available for building renewable-energy projects has "completely dried up," thanks to the financial market crisis, Fezzani said during a keynote and on-stage interview with Yuliya Chernova, editor of Dow Jones' Clean Technology Insight.
Due to a variety of factors, including the volatility of wind energy, its managers have predicted rates may have to increase at least 6 percent in both the 2012 and 2013. ...Because wind is so variable, BPA has to maintain other reliable base generation to handle energy fluctuations, which also adds to its financial pressures.
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BPA will also recover the costs of integrating rising amounts of wind power into the transmission grid through a separate wind integration charge paid by wind developers and purchasers. That rate will be determined through the same process of setting power rates.
Wind energy and coal plants are two buzz phrases seeing plenty of play in Kansas newspapers lately. The perception seems to be wind and solar power are the cleaner alternative over coal, but coal, according BPU General Manager Rick Anderson, is what makes BPU's rates the lowest in Kansas.
"BPU has a contractual arrangement with Westar Energy to provide electricity from our turbine generators and in turn Westar provides us with our energy," Anderson said.
The arrangement has kept BPU's average rates to 3.8 cents per kWh, well below the average of 8.1 cents for nationally publicly owned utilities and 7.6 for Kansas publicly owned utilities. ...House of Representatives Speaker Melvin Neufeld touched on the need for a sound energy policy in his 2008 Republican Legislative Vision speech.
"Alternative energies like wind and solar power can play an important role in our state's energy portfolio, but the simple fact is wind turbines and sunshine alone cannot meet our growing demand for electricity," Neufeld said.
Households must prepare for a sharp rise in energy bills within two years as Britain comes "dangerously" close to power shortages, the chief executive of Ofgem has warned.