September News Update - What the RE Royalties Team is Reading
September has been an exciting month for the RE Royalties team. We have been hard at work and we are thrilled to share our progress through our corporate updates and press releases. Meanwhile, here are some recent developments in the renewable energy industry that our team has been following:
Britain announces biggest auction round in renewable energy scheme
On September 13th, the British government announced the biggest auction round of its renewable energy scheme since its launch in 2014. The government aims to build up enough extra offshore wind capacity to power about 8 million homes through its Contracts-for-Difference (CfD) scheme where qualifying projects are guaranteed a minimum price at which they can sell electricity. The auction services as Britain's primary method of encouraging investment in low-carbon generation. The latest round will provide £200 million to support offshore wind projects, £55 million to support emerging renewable technologies and £24 million for floating wind projects.
To learn more about the government's steps toward supporting the next generation of renewable electricity projects, please click here.
Hydro-Québec and Transmission Developers selected to partner with New York state to help achieve the clean energy transition
Last month, New York authorities announced a partnership with Hydro-Québec to construct the Champlain Hudson Power Express project to deliver clean hydropower into the heart of New York City. The project involves the construction of an underground transmission system connecting the Canada–US border and New York City. It will provide approximately 1,250-megawatt of clean power to displace fossil generation in the NYC region as soon as 2025.
As North America's largest renewable energy producer, Hydro-Québec has been a reliable energy partner for New York for over a decade, providing clean power to the State to support its clean energy and reliability needs.
The city hopes to strengthen the post-COVID economic recovery with the partnership and help power the city with clean, renewable wind and hydropower. Click here to read more about the city's decarbonization plan and details of the partnership.
Siemens Gamesa 'produces first fully recyclable offshore wind turbine blades'
Siemens Gamesa Renewable Energy announced on September 7th that its production of six fully recyclable offshore wind turbine blades had been completed. The achievement of this milestone marks the beginning of the company's goal of making all its blades fully recyclable by 2030 and its turbines fully recyclable by 2040, a plan that has been proposed and researched since 2018. The particular type of resin used by the new batch of blades allows it to fully separate from the other components at the end of its lifetime, making it recyclable for new purposes in the automotive industry or consumer goods like flight cases and flat-screen casings. Click here to read more about the latest technology and its potential upscale.
Thanks for reading and please check out our press releases for more exciting news happening at RE Royalties!