Malaysian state-owned oil and gas firm Petronas said on April 15 it had acquired a Singapore-based solar energy company as part of a strategy to move into renewable energy, chasing high-growth business to complement its mainstay operations.
The proposed change would allow transfers between meters owned by the same customer, on the same rate schedule, installed on the same or nearby premises as the meter with the excess credits, and served by the same primary feeder.
Project will include some of the tallest wind turbines in U.S. – increasing wind energy production.
Wind energy grew in capacity by 8% last year and is now able to provide power to 30 million American homes.
The grid operator said the aging and congested transmission infrastructure is not capable of accommodating the state's goal of obtaining half its electricity from renewable resources by 2030, as well as the new goals being discussed under the recently announced "Green New Deal" to achieve carbon neutrality.
The Maryland legislation would also require new offshore wind capacity, beginning with at least 400 megawatts in 2026, increasing to 800 megawatts in 2028, and 1,200 megawatts in 2030.
The ITC will remain at 30% for projects started through 2019, reduce to 26 percent in 2020, then to 22% in 2021. The commercial and utility credit will remain at 10% after 2021, while the residential credit will sunset.
The legislation also mandates the adoption of energy efficiency and load management programs by every public utility, such that by 2025 they achieve savings of at least 5% of 2020 total retail kilowatt-hour sales to eligible New Mexico customers.
Despite growth projections and imminent regional leadership, Saudi Arabia will fall short of its current 2030 renewables target.
The deal marks the first overseas renewable project for Tokyo Gas, which has set a goal to invest in 600 MW capacity of overseas renewable energy by the end of March 2021, a Tokyo Gas spokesman said.
