The Biden administration plans to complete its ambitious offshore wind leasing program next year, despite preparation delays and sluggish industry demand. The administration aims to install 30 gigawatts of offshore wind power by the end of the century to help decarbonize the U.S. power industry. The Interior Department has held auctions in four areas of the United States, including New York and New Jersey, the Carolinas, California and the Gulf of Mexico. The remaining three regions will take place in 2024. If the government fails to complete these auctions by the end of the third quarter of 2024, it could face additional hurdles, as federal law requires offshore wind lease auctions to take place within 12 months of the auction closing. Recent Oil & Gas Lease Sales.
French President Emmanuel Macron will unveil a seven-year plan to reduce greenhouse gas emissions and fulfill climate-related commitments. The country aims to reduce emissions by 55% by 2030, in line with EU targets. Macron announced that the country's two remaining coal-fired power plants will cease operations by 2027 and be converted to biomass energy. France relies on nuclear energy for more than 60% of its electricity.
Minnesota officials approved expansion plans for the Xcel Energy Sherco Solar project that will become one of the largest in the nation. The expansion will add a 250-MW array to the 460-MW array, with all phases expected to be completed by 2025. The project, with a total capacity of 710 MW, will power more than 150,000 homes annually. Xcel plans to close its three coal-fired power plants in Becker in 2030.
Suzlon Group has bagged a new order for 29.4 MW of BrightNight wind installation capacity in Maharashtra as part of its 100 MW wind-solar hybrid project in Osmanabad. The scheme is expected to be implemented in phases and will reduce CO2 emissions by 250,000 tonnes per year. Suzlon will execute the project, including supply, installation, commissioning and post-commissioning operations and maintenance services. The electricity generated will be targeted at commercial and industrial customer segments.
Sterlite Power has acquired Beawar Transmission Ltd to undertake power transmission projects in Rajasthan. The special purpose vehicle (SPV) was awarded to Sterlite Power through a tariff-based competitive tender in August. The company will build the green energy corridor project on a build, own, operate and transfer (BOOT) basis for a period of 35 years. This is Sterlite Power’s 19th transmission project in India and manages projects worth Rs 12,000 crore.
Seventeen countries, including France, Chile and Kenya, stressed the need for systemic transformation in all economic sectors, driven by a "global phase-out of fossil fuels". They acknowledge that emissions-reducing technologies play a minimal role in decarbonizing the energy system and cannot be used to justify the expansion of fossil fuels. Leaders stressed the importance of restoring and protecting carbon sinks in fighting climate change and called for ambitious global targets on renewable energy and energy efficiency. They urged the mobilization of trillions of dollars in funding for climate action and the implementation of reforms to the financial system to address the multiple crises facing the world. Leaders also called for the Global Stocktake (GST) as a turning point and highlighted the importance of closing ambition and implementation gaps on all aspects of climate action during this critical decade and beyond.