Finance

In a trend that is probably not unfamiliar to others generating electricity, the Tennessee Valley Authority reported that sales of electricity in fiscal year 2020 were about 5% lower compared to 2019, “due to overall milder weather and impacts of the COVID-19 pandemic.” TVA reported $10.2 billion in total operating revenues on more than 151...
Marine Energy

To help meet the EU’s goal of climate neutrality by 2050, the European Commission last week presented the EU Strategy on Offshore Renewable Energy, which proposes to increase Europe’s offshore wind capacity from its current level of 12 GW to at least 60 GW by 2030 and to 300 GW by 2050. The Commission aims to complement this with 40 GW of...
Dams and Civil Structures

The Trump Administration has released the Shasta Lake Water Resources Investigation Final Supplemental Environmental Impact Statement to increase water storage capacity in Shasta Lake by 634,000 acre-feet, or more than 200 billion gallons. This is enough water to support more than 6 million Californians annually. “President Trump has made investing in our existing infrastructure a...
Dam Safety

The Four Lakes Task Force (FLTF) and Boyce Hydro reached a settlement in connection with the condemnation litigation around four dams owned by Boyce Hydro. In accordance with the settlement agreement, the counties on behalf of the Four Lakes Special Assessment District, will obtain ownership of the Boyce Hydro properties, which are the Edenville, Sanford,...
Finance

Hydropower projects around the world could soon be independently rated and certified for their sustainability performance, following a public consultation open to all stakeholders. The International Hydropower Association (IHA), on behalf of a multi-stakeholder coalition of industry, civil society, governments and financial institutions, has published a consultation paper on the development of a global sustainability...
Business

Renewable power capacity worldwide will increase to a record 200 GW this year forecasts the International Energy Agency’s Renewables 2020 report. The increase, representing almost 90% of the total expansion in overall power capacity globally, is led by wind, hydropower and solar PV. Wind and solar additions, in particular, will jump by 30% in both the USA...
Finance

Spanish multinational energy company Iberdrola has announced a €75 billion ($89.1 billion) economic recovery plan to be implemented over the next five years. The investment plan will help the utility to accelerate its energy transition whilst boosting jobs in countries the group operates. The plan will enable Iberdrola to double its renewable energy capacity. The...