Category Archives: Cost Benefit

New York Governor wants State control to silence opposition of Wind projects

no_wind_400x400READ PROPOSED ACT AMENDMENT FULL TEXT

A BUDGET BILL submitted by the Governor
in accordance with Article VII of the Constitution
AN ACT to amend the public service law, the economic development
law, the real property tax law, the general municipal law,
the public authorities law, the environmental conservation
law, the New York state urban development corporation act
and the state finance law, in relation to accelerating the
growth of renewable energy facilities to meet critical
state energy policy goals (Part );…….

The Buffalo News|By: Tom Precious|February 25, 2020

Cuomo wants more state control of solar, wind energy permits

LBANY – Large-scale solar and wind projects would be subject to a dramatically new permitting process controlled only by the Cuomo administration – a plan developers say would cut by years the time to it takes for large renewable energy facilities to be approved in New York.

Local government officials, however, say it will sharply reduce the role communities now play in the process for siting larger energy projects.

“What little opportunity we have to have any say in the matter is completely taken away,” said Wright Ellis, supervisor of the Town of Cambria, where a solar project on 900 acres called Bear Ridge has been a controversial fight for nearly two years.

“I’m very concerned because, traditionally, land use has been the province of the local government. … This just cancels that out completely,” Ellis said.

Gov. Andrew M. Cuomo wants his economic development agency to create a new Office of Renewable Energy Permitting to handle permitting procedures for big solar and wind projects, though there appears to be opportunities for some smaller projects, such as those known as “community solar,” to bypass local government oversight and go directly to Albany for needed approvals…….

The New York State Conference of Mayors, which represents city and village officials, added its concerns about Cuomo’s plan, saying that it would lead to “no meaningful role for local governments as representatives of their communities” in siting decisions for solar and wind projects.

READ ARTICLE HERE

Ontario Power Disaster

100_1886a
Hydro grid stretching from the closed Nanticoke Generating Power Complex located in Haldimand County, Ontario

Ontario has started to conduct  its Pre-Budget Consultations for 2020.  The following  is a personal submission made by a concerned citizen to The Standing Committee on Finance and Economic Affairs.

Ontario Power Disaster and What to Do About It

Ford Proud of Cancelled Green Energy Contracts

ripped contract

The Canadian Press|By Shawn Jeffords|November 21, 2019

Doug Ford ‘proud’ of decision to tear up hundreds of green energy contracts

TORONTO – Premier Doug Ford said Thursday he is “proud” of his decision to tear up hundreds of renewable energy deals, a move that his government acknowledges could cost taxpayers more than $230 million.

Ford dismissed criticism that his Progressive Conservatives are wasting public money, telling a news conference that the cancellation of 750 contracts signed by the previous Liberal government will save cash.

READ MORE: Ford government’s cancellation of green energy deals costs Ontario $231 million

“I’m so proud of that,” Ford said of his decision. “I’m proud that we actually saved the taxpayers $790 million when we cancelled those terrible, terrible, terrible wind turbines that really for the last 15 years have destroyed our energy file.”

Later Thursday, Ford went further in defending the cancelled contracts, saying “if we had the chance to get rid of all the wind mills we would.”

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Has Pension Plan bought into a huge Lawsuit?

Golden nest egg concept for retirement savings

CBC News|November 20, 2019

CPP might be ‘buying into a lawsuit’ through Pattern Energy acquisition, says lawyer

The Canada Pension Plan Investment Board (CPPIB) might be “buying into a lawsuit” by acquiring U.S.-based renewable energy company Pattern Energy, according to a lawyer representing Chatham-Kent residents whose lawsuit against the Ontario government — as well as three wind turbine companies, including Pattern Energy — was dismissed earlier this year.

Pattern Energy announced in early November that it had entered into a $6.1 billion agreement with the CPPIB that would see the federal pension plan’s investment arm acquire the renewable energy company.

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broken golden egg

 

Canada Pension Plan~Follow Your Money

money burning turbine

November 13, 2019|Chief Investment Officer

Top Canada Pension Plan Embraces Energy, Both Fossil Fuel and Not

CPPIB is plying the oil and gas sector for investment opportunities, as well as going into renewables.
Canada’s largest pension fund is not letting go of its investments in oil and gas, as well as renewables, anytime soon. The Canada Pension Plan Investment Board (CPPIB) CEO, Mark Machin, said in an interview with BNN Bloomberg in Toronto last week that the sector, including pipelines and other resources, are appropriate for the fund’s portfolio.

“We will look at traditional oil and gas, whether it’s pipelines or other resources,” said Manchin, referring to renewables. “As long as we can understand all the risks behind the investment, that the regulation may change, that preference may change, that geography may change. If we can understand those and can still be compensated sufficiently, then we’ll continue to make that investment.”

The program is still committed to renewables. The fund, which has a value of about $300 billion, acquired North American wind farm operator Pattern Energy last week for $6.1 billion. Shares cost $26.75 per share for a total of $2.6 billion. The remainder covered the company’s debts. Pattern has built 28 renewable energy projects in the US, Canada, and Japan. The investment is one of the largest M&A deals in US renewables.

In relative terms, though, energy, whether green or not, is not a huge chunk of CPPIB’s portfolio. The fund is invested in more than 20 energy companies ranging from pipeline companies to renewables. As of March 30, the end of its most recent fiscal year, just 1.6% of the fund’s portfolio was invested in the traditional energy sector, and 1% in a category called “power and renewables.”

Manchin’s remarks follow a setback for the Canadian energy industry. Last week, legacy energy firm Encana announced plans to move its corporate headquarters to Denver, and drop references to Canada in its branding. Pipeline shortages, Canadian anti-oil sentiment, and the availability of capital in the US are reasons for the relocation.

The Pattern Energy deal demonstrates the delicate balance Machin is striking between reaping the rewards of oil and gas revenue and acknowledging the “multi-faceted” and “very complicated risk” of climate change, including public outrage over fossil fuel investments.

“It’s important as an investor that we understand all of those risks and how fast the energy transition is going to happen,” he said. “When we look at every investment, we understand all the risks that climate change could present…We are able to understand the risks in a more granular way now because of some of the tools and the disclosure practices that have really improved.”

Manchin is referring in part to the Financial Stability Board’s Task Force on climate-related disclosures that have pushed companies to provide more information, data, and metrics for funds like CPPIB to make investment decisions. (The CPPIB is one of two global pension fund managers on the board.) In April, the fund launched a framework for teams to evaluate climate change-related risks and opportunities. About 4% of the fund is invested in traditional and renewable energy.

The Canadian fund is stopping short of joining the throngs of investors lining up for the Aramco initial public offering. Saudi Arabia is taking its giant oil company public amid great fanfare and international investor interest….

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Enercon cuts jobs as wind industry collapses

enercon turbineThousands to lose jobs as German wind crisis hits Enercon

“A combination of ill-designed first onshore wind auctions in 2017, a permitting malaise, bureaucratic hurdles, and anti-wind protests have pushed German onshore wind additions to their lowest figure since 2000. Enercon during the first ten months of this year has installed turbines with a combined capacity of around 210MW in the country, compared to 2GW still erected in 2017.”

READ ARTICLE HERE

Niagara Wind’s 3rd Year

Niagara Wind had some visitors on a very cold wet fall day.   It has been 3 years since the project was activated.  The project is currently operating out of compliance with its renewable energy approval.  Left them some signs outside their office.   Thanks to all those who honked in support.