KINGSTON, Jamaica (AP) — A branch of the World Bank is helping set up nearly $63 million in financing to help create and operate a new wind farm in Jamaica, which has long struggled with punishing electricity costs and a near total dependence on imported oil.
The International Finance Corporation says the installation is expected to sell 36 megawatts of power to the island's sole electrical utility.
Following a move by two utilities to drop their contracts to buy power from Cape Wind, grid operator ISO New England last week suspended the project’s participation in New England’s wholesale electricity markets, and the company has stopped paying to lease land in Rhode Island that would have been a staging area to build the $2.5 billion offshore wind farm, The Boston Globe reports.
A wind farm in Indiana that Amazon will be developing alongside partner Pattern Energy Group should generate 500,000 megawatt hours of electricity annually, which will be used to power the company’s Web Services data centers, The Seattle Times reports.
The Tennessee Regulatory Authority has granted approval to extend a transmission line to bring Oklahoma wind power as far as Memphis, Clean Line Energy Partners told the Chattanooga Times Free Press, adding that the project, among other things, still needs an approval from the Department of Energy for joint work with the Southwestern Power Administration.
Offshore wind energy in the Atlantic offers the potential to generate twice as much energy and twice as many jobs as offshore drilling, says a report from the conservation group Oceana, according to the Daily Press in Virginia.
National Grid and Northeast Utilities say they are backing out of an agreement to buy power from Cape Wind, after it missed an end-of-year deadline to obtain financing and start construction on the Nantucket Sound wind farm, The Boston Globe reports.
In one of the final acts under the Democratic majority, senators late Tuesday cleared for President Barack Obama's signature a one-year, $41.6 billion bill to extend expired tax breaks only through 2014.
The outcome left the wind energy industry short of its goal for a longer renewal, and senators from both parties pointing fingers at each other and the White House for the failure to enact a bill that would have extended some 55 provisions at least through next year.
Despite the Obama administration opening up the Atlantic to drilling in its proposed five-year leasing plan, major new projects are unlikely to proceed as long as oil prices remain under $50 a barrel, E&E reports.
Stung by lower oil and gasoline prices and raking in less from asset sales, Hess Corp. lost $8 million in the fourth quarter, compared to a profit of more than $1.9 billion in the period a year earlier, The Wall Street Journal reports.
Businessman Eike Batista, on trial in Brazil for market manipulation, has quit as chairman and board member of Oleo e Gas Participacoes, which is reorganizing following its filing for bankruptcy protection in 2013, The Wall Street Journal reports.
With an increase of 244,000, ethanol stocks last week hit a two-year high of more than 2.6 million barrels, according to data from the Energy Information Administration, which said the rise came despite production inching down by 1,000 barrels a day, Platts reports.
Climate modeling isn’t biased toward making links between human activity and climate change, according to a study published in the journal Nature online Wednesday, although researchers did find that studying 62-year trends – rather than 15-year periods -- gave a more accurate portrayal of mankind’s impact, the Los Angeles Times reports.
Releasing data on animal feeding operations to environmental groups under a Freedom of Information Act request didn’t harm the farmers involved, according to a ruling from federal Judge Ann Montgomery in Minnesota, who on Tuesday dismissed a motion for a summary judgment in the case, E&E reports.
Lingering power outages persist after a blizzard dumped two to three feet of snow on eastern Massachusetts, but there, as elsewhere in the Northeast, the consensus appeared to be that this week’s winter storm could have been worse, The Associated Press reports.
The Court of Appeals for the District of Columbia Circuit has set an April date to hear arguments in two cases brought by a dozen states and Murray Energy against the Environmental Protection Agency’s proposed rule limiting carbon emissions from power plants, The Hill reports.
Average gasoline prices across the country rose a fraction of a cent on Tuesday, the first time in more than four months that’s happened, according to the AAA, which added, however, that it doesn’t expect the development of any significant trend for higher costs at the pump, The New York Times reports.