The world’s largest wind turbine manufacturer is on the verge of its first cash dividend payment in more than 10 years, possibly signaling a turnaround for the industry after a three-year slump. Vestas Wind Systems AS is set to meet solvency and profitability targets required for a dividend payment, according to seven analysts who responded to an emailed Bloomberg News survey. Six expect a payout will follow the 2015 announcement of this year’s earnings. All anticipate payments in 2016.
Vestas Wind Systems A/S, the world’s largest wind turbine maker, said the U.S. market continues to show high activity, but the industry is starting to focus on whether the production tax credit (PTC) will be renewed before the end of the year. The Danish manufacturer announced turbine orders of 800 megawatts in the United States in the second quarter, which accounted for most of the 18 percent increase in total orders for the company versus last year. Vestas hired more than 2,000 people during the quarter, most of them at factories in Colorado, where it is ramping up production.
‘Major investment cycle’ and rapidly changing U.S. energy markets pose fresh challenges for FERC — Chairman LaFleur
Prudent. That word might best describe Cheryl LaFleur’s approach to her job — and answering questions about it — as chairman of the Federal Energy Regulatory Commission. President Obama named the Harvard University-trained attorney and former National Grid executive to lead the agency at the end of July. She had been acting chairman of FERC since November after Jon Wellinghoff left the post before his term was up. LaFleur, 59, will serve as FERC chairman until April 15, 2015, when newly named Commissioner Norman Bay, the former head of FERC’s enforcement office, will step into that role.
The Iowa Senate race is one of a handful that will decide whether Republicans or Democrats control the Senate for the last two years of President Obama’s tenure. The race to succeed retiring Senator Tom Harkin, a Democrat, pits Bruce Braley, a Democrat who is currently in the United States House, against Joni Ernst, a Republican state senator.
U.S. emissions of air pollutants linked to cancer, asthma and other serious health problems have plunged over the past few decades, according to a report released today by U.S. EPA. Overall, toxic air pollution from smokestacks and other stationary sources has declined 1.5 million tons each year between 1990 and 2012, while emissions from motor vehicles and other moving pollution sources have been cut in half each year during that time, EPA said.
New wind energy regulations in Alabama caused a wind farm developer to abandon two projects in the state, the company’s attorney said. Pioneer Green Energy attorney Charlie Stewart said the Texas-based company dropped plans for two wind farms after the state passed a wind energy bill that limited the noise that wind farms can produce. The rule also requires wind projects to have a larger setback from nearby properties.
California has been trying to mitigate climate change for more than a decade now but is just now getting down to business on dealing with its impacts. At the state’s first-ever adaptation forum this week, experts ruminated on the meaning and utility of terms like “resiliency” and “readiness,” as well as “adaptation” itself, to refer to measures taken in response to the rising seas, fiercer storms, more-frequent wildfires and other phenomena expected to intensify as greenhouse gas levels rise.
The Interior Department’s third auction of acreage for offshore wind development was dubbed a resounding success by the federal agency, drawing a final bid of $8,701,098 for two lease areas totaling nearly 80,000 acres near Ocean City, Md. This result far outstrips the winning bids during the Bureau of Ocean Energy Management’s first two offshore wind energy area auctions; the first, for ocean area near Rhode Island and Massachusetts, resulted in a final bid of $3.8 million, and the second, for ocean area near Virginia, garnered $1.6 million.
A New Jersey appellate court has ordered the state Board of Public Utilities to take another look at an application seeking to build a $188 million demonstration wind farm off the Atlantic City coast, a proposal the BPU rejected in March. The coalition of developers that is proposing the wind farm, called Fishermen’s Energy, filed the appeal. The group had asked that the BPU reconsider its decision after the U.S. Department of Energy in May awarded $47 million toward the project’s construction, calling it “pioneering.”
The Oregon Department of State Lands (DSL) denied a key permit for a proposed coal export terminal yesterday, dealing a setback to companies who have long hoped to send U.S. coal across the Pacific Ocean. In announcing its decision on the Coyote Island Terminal, which was to be constructed near Boardman, Ore., on the Columbia River, the agency cited the more than 20,000 public comments it had received and wrote that the project “is not consistent with the protection, conservation and best use of the state’s water resources.”