Deputy Assistant Secretary Shawn Bennett said the federal agency will be strategic as it continues to aggressively pursue partnerships with oil and gas leaders to improve technology in the industry.
The Energy Information Administration expects U.S. oil production to increase to 13.2 million barrels per day in 2020 all while remaining conscious of the movement for cleaner energy.
Baker Energy Team focuses on higher-end projects and has completed a little over 2 megawatts of solar projects.
Facebook purchased 2,468 MW of solar capacity in 2018 while Exxon Mobil Corp. bought 325 MW of solar capacity and 250 MW of wind capacity.
Wind energy grew in capacity by 8% last year and is now able to provide power to 30 million American homes.
The investment follows CleanCapital and BlackRock’s purchase of a 46.9-megawatt portfolio of U.S. solar power from a unit of ATN International Inc. last year.
The capacity is the same as 100 million IPhone batteries and will power 329,000 homes for two hours.
Countries in the Middle East, Southeast Asia, North Africa and Sub-Sahara Africa have been asking for more renewable capacity than fossil fuel over the last few years.
The flexibility of mezzanine funding appeals to many investors looking to get projects completed.
A panel of oil and gas capital experts offered some sage advice on attracting private capital at the Energy Capital Conference.
