Vestas CEO: U.S. wind market to fall 80% in 2012

11/06/2012 00:00 Renewable


According to CEO of the world’s biggest turbine maker, Vestas, the U.S. wind market is likely to decline by 80% in 2013 because of the expiry of the U.S. production tax credit (PTC) for renewable energy at the end of this year and it is believed that the new Congress will not renew the legislation before its expiry.

The PTC involves a 2.2-cent per kilowatt-hour benefit for the first 10 years given to a renewable energy facility's operation. Vestas declaration is based on a study from IHS Emerging Energy Research which shows that there is a risk that the U.S wind market could decline from about 11 GW in 2012 to just over 2 GW in 2013, following the abolition of PTC. Vestas said it will be obliged to cut a further 1,600 U.S. jobs if the production tax credit expires. Actually, Vestas employs 3,500 people in the United States.

Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.


Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.


Novatek $4.8 bln Yamal LNG fleet complete. Yakov Gakkel expected to load next week

03/12/2019 09:33:00

Russia’s largest independent natural gas producer and LNG exporting player, Novatek has completed the $4.8 billion, 15-vessel strong fleet of Arc7 liquefied natural gas carriers set to serve its giant Yamal LNG project in the Arctic.