Renewable energy industry news roundup: July 18–24, 2016
Target is jumping into the wind energy sector, the Obama administration announces new energy plans to up current clean energy initiatives, and Xcel Energy cuts the ribbon on its 150-MW North Dakota wind farm. Read these stories and more in this week's renewable energy news roundup.
Target Powers Up With Wind Energy Partnership
Target Corp. has expanded its commitment to renewable energy, kicking off its first wind power partnership. The company will buy a portion of energy produced by a Starwood Energy Group wind farm to power 60 Target stores throughout Texas. According to John Leisen, VP, property management, Target will be on the lookout for more opportunities to get involved in renewable energy projects across the country.
Obama Renews Goal to Bring Solar to Low-Income Housing
This week the Obama administration continued with its increasingly ambitious plan to slash emissions across the U.S. energy system, announcing a series of presidential executive orders to accelerate solar energy production and increase solar industry training services. The hope is that solar power will deliver 1 GW of capacity to low and moderate income communities by the end of the decade.
Xcel Energy Cuts Ribbon on 150-MW Wind Park in North Dakota
Last week, Xcel Energy announced the official opening of the 150-MW Border Winds farm in Rolette County, North Dakota, that will meet the annual electricity needs of over 78,000 local households. The project was developed over a period of nearly 13 years and created jobs for 150 people. Now that the wind farm is up and running, 11 technicians will work on-site to maintain the farm.
Renewable Energy's New Dance Partners: Banks, Pension Funds
Solar and wind energies initially turned off traditional investors because they were “too risky,” but as commercial customers and utilities take up solar and wind projects, banks, pension funds and mutual funds are increasingly seeking to finance these projects. The Climate Bonds Initiative reported that the green bonds issued in the first six months of 2016 has nearly met the full-year total of bonds issued in 2015. This means 2016 is on track to double last year's total of $41.8 billion green bonds issued.