Massachusetts is having a policy debate on the appropriate evaluation criteria for offshore wind (OSW) competitive procurements. Specifically, should the state depart from past policy of focusing primarily on the price of the OSW energy and give more weight to economic development benefits, which are typically in the form of commitments from OSW component suppliers to site their operations locally.
Read Full ReportIn the last two weeks there have been three indications that the US OSW market is maturing. Perhaps of most importance was the financing of the 800 MW Vineyard Wind project, which involved construction and term loan debt financing with nine banks.
Read Full ReportOn June 1, 2021, Senate Bill 65 became effective which decreased the Maryland solar RPS and increased the ACP. SREC prices immediately gravitated toward the new ACP schedule, and are expected to remain at about 98% of ACP for the foreseeable future.
Read Full ReportPower Advisory LLC continues to closely track the Northeast electricity markets and support the development of clean energy projects. Find a summary of the latest news from the Maine Public Utilities Commission below, with the approval of term sheets from the 2021 Maine Tranche 2 RFP for renewables this morning.
Read Full ReportAddressing the climate crisis has renewed focus in Canada and across the globe. On the heals of announcing a strengthened climate plan with a goal of net-zero emissions by 2050, Prime Minister Trudeau announced that Canada will enhance its commitment to the Paris Agreement by reducing emissions to 40-45% below 2005 levels by 2030 during the World Leaders Climate Summit.
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