Southern Co to Retire 55% of Remaining Coal Fleet by 2030
Southern Co to retire 55% of remaining coal fleet by 2030; Engie N. America exits planned 60 MW solar/storage project (4 hrs duration) in Hawaii, citing supply chain issues; VW to work w/Oak Ridge Lab in high-speed wireless charging; Fortescue Metals plans to invest up to $8.4 billion in a green H2 project in Rio Negro Argentina; Federal law enforcement bulletin says drone that crashed near Pennsylvania substation in 2020 was probably meant to damage or disrupt electric equipment; Major global insurance firm AXA to stop investing in & underwriting insurance for new oil exploration projects unless affiliated oil & gas companies have credible transition plans to renewables.
1) Southern Co will shutter 4,300 of its remaining 9,800 MW of coal gen by 2030 (55%).
2) Engie N. America pulls plug on a planned 60 MW solar and 240 MWh storage project in Hawaii, blames supply chain issues and trade disputes. More such withdrawals likely to follow across industry as costs increase.
3) VW Group of America’s Innovation Hub increases collaboration w/Oak Ridge National Laboratory and University of Tennessee, Knoxville to boost breakthroughs in material science for EVs. First project to test high-power wireless EV charging capability with a Porsche Taycan at a current 120 kW, w/goal of 300 kW.
4) Australian billionaire Andrew Forrest and mining company Fortescue Metals looking to invest up to $8.4 billion in a green hydrogen project in Rio Negro Argentina.
5) Federal law enforcement bulletin indicates drone that crashed near Pennsylvania substation last year likely meant to damage or disrupt the electric equipment. It’s the first known such case.
6) Major global insurance firm AXA will stop investing in and underwriting insurance for new oil exploration projects unless the affiliated hydrocarbon cos have credible transition plans to renewables. It will also cut exposure to oil sands, Arctic drilling & shale fracking in its investment and insurance underwriting portfolios.