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UPDATE 1-U.S. to hold record offshore wind auction next month in clean energy push

Wed, 12th Jan 2022 17:06

(Adds details on offshore wind auction, comment from Interior
secretary)

By Nichola Groom

Jan 12 (Reuters) - President Joe Biden's administration on
Wednesday said it would hold the U.S. government's biggest ever
offshore wind auction next month for areas in waters off the
coast of New York and New Jersey, part of a range of measures it
unveiled to speed growth of clean energy.

"We're at an inflection point for domestic offshore wind
energy development," Interior Secretary Deb Haaland said on a
call with reporters. "We must seize this moment."

The announcement, which seeks to advance Biden's ambitious
climate change agenda, comes as sweeping legislation to support
those goals is stalled in Congress. Biden has pledged an
"all-of-government" approach to fight global warming and
decarbonize the U.S. electricity grid by 2035.

The White House is "continuing to pursue this agenda every
way we know how," a senior administration official told
reporters on a briefing call on Tuesday.

In a wide-ranging memo, the administration unveiled actions
by seven federal agencies designed to accelerate deployment of
wind and solar projects while creating well-paying jobs, a
cornerstone of Biden's presidential campaign pledge.

The centerpiece of the announcement is the Feb. 23 sale of
six commercial leases in the New York Bight, shallow waters
between New York's Long Island and New Jersey. The leases are
projected to one day host projects able to generate up to 7
gigawatts of electricity, enough to power 2 million homes, the
administration said.

It would be the first offshore wind auction under Biden, who
last year launched an aggressive push to install 30 gigawatts of
the technology by 2030 and approved the nation's first two
commercial-scale projects. The last government auction for wind
leases was held in 2018.

The Bureau of Ocean Energy Management said 25 companies are
eligible to bid on the leases, including entities controlled by
Equinor, Avangrid, BP and EDF,
and each bidder may only win one lease.

The 488,201 acres that will be offered to offshore wind
developers was reduced by 22% from the initial sale proposal
outlined last summer in response to input from the commercial
fishing industry, U.S. Coast Guard and others, BOEM said.

Developers will be required to "make every reasonable
effort" to use union labor to build their projects and to
outline plans for supporting creation of a domestic supply chain
for the industry. Companies that succeed in sourcing major
components domestically may be eligible for lower lease
operating fees.

Onshore, the administration announced steps to slash the
time it takes to permit clean energy projects on public lands
through better coordination between five agencies and the
creation of renewable energy coordination offices at the
Department of Interior.

It also unveiled a major federal effort to build thousands
of miles of electric transmission lines to carry clean energy
from solar and wind facilities to U.S. communities. The Building
a Better Grid initiative will tap billions of dollars in funding
from the $1 trillion infrastructure law passed in November to
finance new lines and grid upgrades.

The administration said it would ensure that the benefits of
clean energy investment will reach rural communities through a
new $10 million grant program at the Agriculture Department to
support projects in poor areas.
(Reporting by Nichola Groom; Editing by Leslie Adler and David
Gregorio)

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2 Jan 2024 16:58

LONDON MARKET CLOSE: Stocks down amid disappointing manufacturing data

(Alliance News) - Stock prices in London closed lower on Tuesday, after the year was started with some disappointing data about the UK and US manufacturing sectors.

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29 Dec 2023 13:01

LONDON MARKET CLOSE: UK equities outclassed by other markets in 2023

(Alliance News) - Stock prices in London closed mixed on Friday, the final trading day of 2023, as the annual returns from UK equities were outshone by international markets.

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28 Dec 2023 16:54

LONDON MARKET CLOSE: End of year rally cools as FTSE 100 edges lower

(Alliance News) - Stock prices in London closed mixed on Thursday, the final full trading day of a mixed year, though the FTSE 100 is still on track to deliver a gain of more than 3% for 2023.

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28 Dec 2023 09:02

LONDON MARKET OPEN: China-exposed firms rise as stocks drift higher

(Alliance News) - Stock prices in London opened slightly higher on Thursday, with investors feeling quietly optimistic on the penultimate day of trading for 2023.

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23 Dec 2023 12:30

Poland's Orlen files Venture Global LNG arbitration case -Bloomberg News

Dec 23 (Reuters) - Polish oil and gas firm Orlen has lodged an arbitration case against Venture Global LNG which alleges that the U.S. exporter of liquefied natural gas was not honouring a long-term contract, Bloomberg News reported on Saturday.

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22 Dec 2023 19:54

More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

Read more
22 Dec 2023 19:29

More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

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22 Dec 2023 19:24

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday.

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22 Dec 2023 19:20

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday. (Reporting by Terje Solsvik, editing by Essi Lehto)

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22 Dec 2023 11:00

US offshore wind poised for success next year after turbulent 2023

NEW YORK, Dec 22 (Reuters) - The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.

Read more
20 Dec 2023 18:16

US Gulf of Mexico oil auction is largest since 2015

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.

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20 Dec 2023 17:37

US Gulf of Mexico oil auction raises $382 million in high bids

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised more than $382 million on Wednesday, the highest total for a federal offshore oil and gas auction since 2015.

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20 Dec 2023 17:00

Sustainable Finance Newsletter - This time it's different for US SEC climate rules

Dec 20 (Reuters) -

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20 Dec 2023 15:36

Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

Read more
20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

(Sharecast News) - London's stock markets saw a notable upswing on Wednesday, driven by encouraging data revealing a greater-than-anticipated slowdown in UK inflation for November.

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