DIRS.INFO The most relevant business & tech news

☆ WindCORES cuts emissions by putting data centers inside wind turbines
▼ + stars: | 2023-12-05 | by ( Arya Jyothi | ) edition.cnn.com time to read: +7 min

CNN —Accounting for up to 1.5% of global electricity use, data centers are fueling the climate crisis. WindCORES, a subsidiary of German renewable electricity company WestfalenWIND, operates data centers inside wind turbines located in a wind park in the Paderborn district in western Germany, which the company says makes the centers almost carbon neutral. The concept uses existing wind turbines to power data centers on site, while fiber optic cables provide a constant internet connection. WindCORES estimates that the unused electricity generated during this period could power one-third of all German data centers. Zattoo joined windCORES in 2020, when it moved one of its six data centers into a wind turbine in Paderborn.

Persons: ”, Fiete Dubberke, Dubberke, WestfalenWIND, windCORES, Zattoo, Viliyana Ivanova, “, Viliyana, windCORES Dubberke, Zattoo’s, Asim Hussain, that’s, they’ve, ” Hussain, ” WindCORES, Klee Organizations: CNN, windCORES, Green Software Foundation Locations: Paderborn, Germany, “, ”, Lichtenau, Munich

☆ CalPERS to double climate investments, consider asset sales
▼ + stars: | 2023-11-03 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Staff for the California Public Employees' Retirement System (CalPERS) said the plan will boost returns for the $444 billion system, the largest in the U.S., plus cut in half its portfolio's "emissions intensity," a measure of emissions relative to output. Cashion said the new investments will be spread among companies that do things like mitigate emissions or make infrastructure more resilient to climate change, selected across different asset classes. Additional proposed legislation would require state funds to sell fossil fuel stocks, following systems in other states such as Maine. CalPERS has opposed the idea, saying it would do little to limit emissions and could compromise returns. But he said CalPERS will develop a process to evaluate whether a company is prepared for stronger climate regulations or shifts in consumer demand.

Persons: Peter Cashion, Cashion, CalPERS, Ross Kerber, David Gregorio Our Organizations: Staff, California Public Employees, Democratic, United Nations, Thomson Locations: U.S, California, Maine

VIRGINIA BEACH, Va. (AP) — A power company's plans for an enormous offshore wind farm off Virginia's coast gained key federal approval Tuesday after the Biden Administration evaluated the project's potential impact on the environment. The utility will still need federal approval of its construction and operation plans before more pilings rise above the Atlantic Ocean. Dominion said its project will be the largest offshore wind farm under development in the United States. The administration said it wants to build 30 gigawatts of offshore wind energy by 2030 — enough to power more than 10 million homes. The Southern Environmental Law Center cited the importance of offshore wind for cutting carbon pollution, which fuels climate change.

Persons: what's, “, Deb Haaland, Joe Biden's, Glenn Youngkin, Will Cleveland, Michael Town, ” Organizations: Biden Administration, Dominion Energy, of Ocean Energy Management, Dominion, Interior Department, Republican Gov, Southern Environmental, Virginia League of Conservation Voters Locations: VIRGINIA BEACH, Va, Virginia's, Atlantic, Virginia Beach, United States, Virginia

"BP reported weak numbers this morning...However, notably, BP has reported exceptional gas trading results on several occasions in the last couple of years, including last quarter," said RBC analyst Biraj Borkhataria. In the downstream, customers & products reported $2.1 bln vs consensus $2.4 bln, despite being supported by very strong oil trading results, suggesting weaker refining margin capture in the third quarter." That was up from the $2.6 billion profit the company reported in the prior three months due to higher oil and gas production, strong refining margins, lower refinery maintenance and "a very strong oil trading result", but natural gas marketing and trading were weak. BP expects capital expenditure of $16 billion this year, the lower end of its indicated range of $16-$18 billion. Rivals Chevron (CVX.N) and Exxon Mobil (XOM.N) last week posted sharp year-on-year drops in third quarter profit as energy prices cooled.

Persons: Norway's, Biraj Borkhataria, Murray Auchincloss, Bernard Looney, Ron Bousso, Louise Heavens, Jason Neely Organizations: windfarm, BP, Reuters Graphics Reuters, Rivals Chevron, Exxon Mobil, Thomson, & $ Locations: U.S, British, New York

TOKYO (AP) — Tokyo prosecutors said Thursday they have arrested the former vice foreign minister of Prime Minister Fumio Kishida’s Cabinet on suspicion of accepting more than 61 million yen ($414,000) in bribes from a wind power company in return for his promotion of wind power and other favorable treatment. Political Cartoons View All 1146 ImagesHe allegedly received another 31 million yen ($210,500) in connection to a racehorse owner's group between October 2021 and June this year. Masayuki Tsukawaki, the 64-year-old former president of Japan Wind Development, has admitted that the payments were a “reward” for Akimoto, Kyodo said, quoting unnamed investigative sources. “We cannot build social infrastructure for the future of Japan without fair competition,” said Norihisa Satake, governor of Akita, where Japan’s first full commercial operation of wind power generation began in December. “We want operators to compete fairly and squarely with technology.”Established in 1999, Japan Wind Development has developed 293 turbines in and outside Japan with a combined output of more than 570 megawatts, according to the company's website.

Persons: —, Fumio, Masatoshi Akimoto, Akimoto, Masayuki Tsukawaki, Kyodo, Tsukawaki, “, ”, wasn't, Kishida, Norihisa Satake Organizations: TOKYO, Liberal Democratic Party, Japan, Development, Kyodo, Akimoto, NHK, ” Locations: — Tokyo, Aomori, Jakarta, Indonesia, Japan, Akita

☆ British royal family's public cash formula changed amid surging windfarm profits
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Andrew Milligan/Pool via REUTERSLONDON, July 20 (Reuters) - The British government said on Thursday it would cut the proportion of funds going to the royal family from the Crown Estate next year, after King Charles said he wanted bumper windfarm profits to go to the "wider public good". The Sovereign Grant, which last year was worth 86.3 million pounds ($111 million), is typically based on 15% of Crown Estate profits but has been temporarily increased to 25% to pay for extensive refurbishment work at Buckingham Palace. However, new deals for offshore wind farms struck in January are expected to see Crown Estate profits surge by 900 million pound a year, and Charles had indicated he wanted this extra money to go the wider good. On Thursday, the Treasury said the Sovereign Grant next year would be cut to 12% of Crown Estates' profits, meaning it will remain at 86.3 million pounds but will be 24 million pounds less than if the rate had not changed. ($1 = 0.7747 pounds)Reporting by Sarah Young and Michael Holden; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: King Charles, Andrew Milligan, Grant, Sovereign Grant, Charles, Jeremy Hunt, Sarah Young, Michael Holden, Kate Holton Organizations: Scottish Borders, REUTERS LONDON, Treasury, Sovereign, Estates, Thomson Locations: Selkirk, Scottish, Scotland, Britain, Holyrood, Buckingham

☆ Electricity prices in Finland flipped negative — a huge oversupply of clean, hydroelectric power meant suppliers were almost giving it away
▼ + stars: | 2023-05-25 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

A new nuclear reactor, as well as unexpected floods, are leading to a glut of clean energy. While much of Europe was facing an energy crisis, the Nordic country reported that its spot energy prices dropped below zero before noon. "Now there is enough electricity, and it is almost emission-free," Ruusunen told Yle, adding that Finns could "feel good about using electricity." Ruusunen told the National that Finland wanted wind to become its primary power source by 2027. Finland is now dealing with energy prices being too lowAn offshore windfarm near the Aland Islands, an autonomous archipelago that is a region of Finland in the Baltic sea.

Representatives of the renewable energy sector say those goals could be missed without policy changes, especially as other countries are doing more to attract investment in green power. Rod Wood, managing director at wind energy developer Community Wind Power, is among those seeking changes to the EGL in Britain's March 15 budget. OIL AND GAS SECTOR UNHAPPY TOOOil and gas producers, which have been subject to a windfall tax since May 2022, also want change. Finance Minister Jeremy Hunt, in a meeting in December, rebuffed calls from the oil and gas industry to amend the windfall tax. Meanwhile, Britain's biggest oil and gas producer Harbour , has announced job cuts and shunned the latest licensing round.

☆ Concerns about golden eagles are partly prompting the redesign of a Scottish wind farm
▼ + stars: | 2023-02-01 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +4 min

In a project update last week, the firm behind the Scoop Hill Community Wind Farm said revisions to the development had been made after "extensive and iterative discussions" with both the local community and consultees. If built, the Scoop Hill Community Wind Farm will have 60 turbines instead of the 75 that were originally proposed. Plans for an onshore wind farm in Scotland have been revised after a number of concerns, including those related to how the project might affect golden eagles. Golden eagle concernsThe decision to reduce the number of turbines for Scoop Hill follows a period of consultation for the project. "The impact of wind farms on birds and bats is extremely low compared to the impact of climate change and other human activity," it adds.

Power giant Orsted aims to build a huge offshore windfarm to help the country meet renewable goals. Last year the North Sea Transition Authority (NSTA), which regulates offshore energy activity, concluded that large crossovers between such ventures were unfeasible with current technology. This largely unreported clash risks undermining Britain's drive to meet its climate goals, according to the companies involved and a North Sea green transition expert. The BP-Orsted showdown could also presage similar disputes elsewhere in an increasingly crowded North Sea, the experts told Reuters. There is hope on the horizon for wind and CCS projects that share ground, say regulators and industry experts.

The rapid drawdown in gas inventories for space heating, industrial processes and power generation shows the system functioning as intended. Gas stocks were +56 TWh (+21% or 1.39 standard deviations) above the ten-year seasonal average for 2012-2021. The largest seasonal depletion was -148 TWh (winter 2018/19) while the smallest was just -34 TWh (winter 2014/15). Related columns:- Europe’s gas stocks comfortable despite cold snap (Reuters, December 14)- Europe on course to end winter with plenty of gas (Reuters, November 28)- Europe’s gas storage peaks after record refill season (Reuters, November 18)- Mission accomplished? Europe fills gas storage ahead of schedule (Reuters, October 4)John Kemp is a Reuters market analyst.

Search resuls for: "windfarm"

11 mentions found