Headline News:
- “US EIA Forecasts World Oil Consumption Growth To Slow Amid Less Economic Activity” • The US Energy Information Administration forecasts consumption growth of crude oil and other liquid fuels will slow over the next two years, driven by a slowdown in economic growth, particularly in Asia, in its May Short-Term Energy Outlook. [CleanTechnica]
Offshore oil platform (Zachary Theodore, Unsplash)
- “Canadian Wind Project Secures $1 Billion In Financing” • A Canadian consortium that includes Boralex has financing for the 400-MW Des Neiges – Secteur sud wind project in Quebec. La Societe de projet BVH1 also inclues Energir Developpement and Hydro-Quebec, and it has in place $960 million of financing for the wind project. [reNews]
- “‘Rogue’ Communication Devices Found On Chinese-Made Solar Power Inverters” • US officials have discovered undisclosed communication devices on the power inverters of some solar panels manufactured in China, Reuters reported. The inverters are part of the hardware package connecting solar arrays to the power grid. [Utility Dive]
- “US Bill Will Deter Renewables” • The United States draft budget reconciliation bill would deter renewable energy projects, analysts warn. Energy analytics company Wood Mackenzie has warned that if the bill is passed, solar, wind, and energy storage forecasts could be downgraded, while 95% of announced green hydrogen projects will be put at risk. [reNews]
- “National Grid Takes £303 Million US Offshore Wind Hit” • National Grid booked an impairment of £303 million ($403 million) on its paused 2,800-MW Community Offshore Wind in the New York Bight, a joint venture with RWE. The company cited the regulatory uncertainty created in the US since the election of President Donald Trump. [reNews]
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