US offers PG&E a conditional loan of up to $15 billion for climate resilience
The Department of Energy announced on Tuesday that the United States had offered PG&E, a California-based utility, a conditional $15 billion loan to upgrade its electrical grid and support climate resilience. PG&E is a natural-gas and electric utility and the parent company of Pacific Gas and Electric Company. It serves about 16,000,000 people in northern and central California. The loan will be paid in cash over several years if the U.S. Department of Energy Loan Programs Office finalizes the record amount. It will be used for projects to refurbish PG&E’s hydroelectric and power lines.
Castle Wind signs MoU for 1GW California OWP
Monterey Bay Community Power (MBCP) and Floating wind power developer Castle Wind, a joint venture between Trident Winds and EnBW North America, have signed a memorandum of understanding (MOU) to enter into a future, long-term power-purchase agreement for approximately 1 gigawatt of renewable energy.The MoU is said to outline the mutual interests and intent of the two parties to enter into the future long-term PPA for the 1GW floating offshore wind project being planned off the Central California coast.According to Castle Wind…
EnBW, Trident Winds JV for Offshore Wind Project in California
EnBW Energie Baden-Württemberg AG is continuing its strategy of capturing growth in new international markets in the renewable energy sector. Following its recent entry into Taiwan, EnBW has now expanded its activities to the United States of America by establishing a regional subsidiary, EnBW North America, and forming a joint venture with Trident Winds Inc. to develop an offshore wind project off the coast of in Central California. This represents the EnBW Groups first step toward tapping into the high potential of the American market. Several of the United States have set ambitious goals for the expansion of offshore wind.
California's Monterey Oil Deposits Seen at 21 mln bbls
Unconventional oil and gas deposits in deeper portions of California's Monterey formation may not be as prolific as once estimated, the U.S. Geological Survey said on Tuesday. A new study by the agency estimated that 21 million barrels of oil and 27 billion cubic feet of gas can be recovered from the Monterey shale in the San Joaquin Basin using existing technology for hydraulic fracturing. Though the Monterey shale was once seen as holding great promise for unconventional oil extracted by fracking, the latest volume estimates were relatively small compared with previous studies of the area's conventional resources.
Pipeline Breaks, Spills Crude Oil Into LA Neighborhood
A faulty Valve Pump station at a Petroleum Pipeline Ruptured Early on Thursday in an Industrial corner of Los Angeles, spewing Crude Oil 40 Feet (12 meters) into the Air, onto the Roof of a strip club next door, and leaving four people sick from the fumes. An Estimated 10,000 gallons of Oil gushed from the Pipeline before it was shut down and the spill was halted, soaking an Area about a half-Block Long, Los Angeles Fire Department Captain Jaime Moore Said. The Company that runs the Pipeline, Plains All American Pipeline LP…
Vandenberg Air Force Base: New Offshore Drilling Site?
The U.S. Air Force will consider leasing land on Vandenberg Air Force Base for private companies to extract offshore oil and gas from the central California coast, according to a Los Angeles Times report. The proposal would allow oil companies to use onshore equipment with new extended reach “slant drilling” technology to access deposits several miles offshore. Sunset Exploration and Exxon Mobil recently asked the Air Force to revisit their proposal to use the technology to build an oil and gas drilling project on the base near Lompoc, explains the Los Angeles Times, citing an official source.
