On March 10, 2017, the U.S. Department of Interior’s Bureau of Ocean Energy Management (BOEM) posted four unsolicited applications for wind project leases on the Outer Continental Shelf. PNE Wind U.S.A., Inc. has filed three lease applications, two for offshore Massachusetts and one for offshore New York. Separately, Statoil Wind US LLC filed a lease application for offshore Massachusetts.
The developers’ lease requests, particularly the overlapping requests for offshore Massachusetts, indicate continued interest and growing competition in the U.S. offshore wind sector. The quickening pace of activity in the U.S. offshore wind market, including completion of Deepwater Wind’s Block Island offshore wind farm and today’s auction process for offshore North Carolina, suggests that offshore wind projects may become a more important part of the U.S. power generation portfolio in the coming years. In addition, the unsolicited application for offshore New York and the federal government’s response may provide an early indication as to the Trump Administration’s position on offshore wind development going forward. Increased activity and a new administration in the White House present opportunities to engage on this issue and shape the policies that will govern the federal offshore leasing program for the next four or eight years, or beyond. Read More
By Christoph Mank
An introduction of bidding processes for determining the amount of funding for the generation of electricity from onshore wind turbines, offshore wind turbines and large photovoltaic systems is planned with an amendment of the German Renewable Energy Act (Erneuerbare-Energien-Gesetz).
The German government sees the transition to bidding processes as being a central instrument for attaining the goals laid down by policy makers regarding the development of the share of renewable energies in the production of electricity. The political goal is to increase the share of renewables in the amount of electricity generated to between 40% and 45% by 2025, between 55% and 60% by 2035 and at least 80% by 2050. In real terms the increase in the contribution of renewable energy to the electricity production in Germany has gone from 25.3% in 2013 to 28% in 2014 and 32.6% in 2015. It is the political will of the current government not to fall below or exceed this established scope for expansion. For this purpose the aim is to fix the tendered quantities at a level that is as accurate as possible on the one hand; on the other hand, a high realisation rate needs to be achieved with regard to the projects awarded in the context of the bidding process.
On Monday, the U.S. Department of the Interior announced that the Bureau of Ocean Energy Management (“BOEM”) has defined three Wind Energy Areas off the North Carolina coast for potential commercial wind energy development.
The three Wind Energy Areas cover approximately 307,590 acres, which is a reduction in the area initially considered by BOEM for commercial scale wind power development. The Wind Energy Areas announced Monday include about 122,405 acres off the coast of Kitty Hawk, North Carolina, and two areas of 51,595 acres and 133,590 acres off the coast of Wilmington, North Carolina. A map of the Wind Energy Areas can be found here.
On May 15, 2014, K&L Gates will host its annual event on investment in renewable energy in its Frankfurt office. The event is co-sponsored by Grontmij and Alexa Capital.
The program will address recent developments that shape the environment of investment in renewable energy, focusing on investment in the UK while also covering German and European trends.
As in previous years, the program will combine legal and commercial perspectives, and presents speakers with professional backgrounds in project development, M&A, finance and law, all widely experienced in the renewable energy sector.
This year, program and speakers include:
- The Development of the Yield Co: implications for investing in renewables and energy
Gerard Reid, Partner, Alexa Capital
- UK Energy Market Reform: what it means for investors
Anthony Fine, Partner, K&L Gates, London
Paul Tetlow, Partner, K&L Gates, London
- UK Power Grids: opportunities and solutions for renewable energy industry
Vijay Shinde, Head of UK Grid Services, Grontmij, Newcastle
- Power Purchase Agreements (PPAs): the growing need and what it means for renewable investors
Dr. Felix Grolman, CEO, Grundgrün Energie GmbH
- The Future of Offshore Wind
Ian Nolan, Chief Investment Officer, Green Investment Bank
- Yield Cos: strategies to lower the cost of capital
Mark Henderson, Partner, Greencoat Capital
Nick Boyle, CEO, Lightsource
- Development Companies: entering and operating in the UK
Thomas Kercher, CEO, PFALZSOLAR GmbH
Oliver Christof & Constantin Windisch-Graetz, Christof AG
- Renewable Energy 2.0: what it means for all of us
Anthony Fine, K&L Gates (Chair)
Vijay Shinde, Grontmij
Gerard Reid, Alexa Capital
Felix Groelman, Grundgrün Energie GmbH
Mark Henderson, Greencoat Capital
Nick Boyle, Lightsource
For more information: click here.
For registration: click here.