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(CNN) The Biden administration issued long-awaited preliminary guidance Friday on its expansive clean hydrogen tax credit, tilted in favor of hydrogen produced from clean electricity. The hydrogen tax credit is one of the most generous subsidies contained in the Inflation Reduction Act — giving companies up to $3 for every kilogram of hydrogen produced. Along with other... Continue Reading →
(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. The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals... Continue Reading →
(Reuters) - Argentina's new libertarian President Javier Milei announced a power sector "emergency" on Monday, saying his government would tighten control over the country's local gas and electricity regulators, and seek to allow long-controlled prices to rise. The outsider economist, who rode to power pledging to take a 'chainsaw' to state spending, has long targeted... Continue Reading →
(Reuters) - The U.S. will release guidance for how hydrogen producers can secure billions of dollars of subsidies embedded in last year’s Inflation Reduction Act sometime this year after the COP28 climate conference in Dubai, U.S. energy advisor John Podesta told Reuters on Wednesday. Industry has been waiting anxiously for the guidance from the U.S. Treasury Department for months,... Continue Reading →
(Reuters) - Governments have decided to pay up to revive offshore wind farm developments after rising costs put at risk multiple projects that are needed to help them cut emissions and reach climate targets. Many countries are relying on a huge and rapid build-out of offshore wind farms which have high upfront costs but over... Continue Reading →
(Reuters) New York released a new offshore wind solicitation on Thursday to keep the state on track to meet its renewable energy goals and support a nascent industry that has faced financial trouble in recent months. Offshore wind is expected to play a major role in New York's plan to reduce carbon emissions by getting 70% of... Continue Reading →
Philip Lewis contributor (OE) The U.S. offshore wind market presents a $1 billion long-term opportunity to builders of crew transfer vessels (CTV) and service operation vessels (SOV) that will support both wind farm construction and long-term operations and maintenance. Unlike many of the construction vessels to be deployed on U.S. wind projects, CTVs and SOVs... Continue Reading →
(Reuters) Recent decisions in the United States and Britain to accept higher prices for offshore wind developments are a welcome sign that authorities are adjusting to higher costs in the industry, Equinor's head or renewables said on Tuesday. "I believe that politics and markets will adjust, and that is also necessary in order to keep... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil is taking several steps to slash its greenhouse gas emissions. The oil major’s CEO believes that renewables are not up to the task of handling emissions on their own, thus, the use of other technologies is seen as key to curbing emissions during the transition to a low-carbon and green... Continue Reading →
(OW) New York Governor Kathy Hochul has revealed that expedited offshore wind solicitations for the state will be held early next year. The forthcoming Requests for Proposals will be released on 30 November 2023. Final proposals will be due on 25 January 2024, with award announcements expected by the end of February 2024. These solicitations... Continue Reading →
Brazil Energy Insight 