News Roundup

by Christian Roselund

European Firms Replace U.S. Utilities in Offshore Wind

According to an analysis by S&P Global, European developers are increasingly replacing U.S. power companies in the emerging U.S. offshore wind sector. S&P Global describes U.S. utilities as taking a “cautious” approach to the sector, while Europeans are stepping in to win an increasing number of bids in federal offshore wind auctions.

The article cites a number of examples of this. These include that a joint venture between Invenergy and energyRE was the only U.S. consortium to place a winning bid in the February 2022 auction of offshore lease areas in the New York Bight. Additionally, utility Eversource is considering selling all or part of 50% stake in an offshore wind venture with Orsted.

Analysis:  US utilities take cautious approach to offshore wind, while Europeans step in | S&P Global Market Intelligence (spglobal.com)

Korean Clean Energy Manufacturing Comes to Georgai

In the past two weeks, two Korean conglomerates have announced that they will locate manufacturing in the U.S. state of Georgia. In the first announcement, Hanwha Q Cells has revealed that it will build an additional 1.4 gigawatts of U.S. solar module capacity at the site of its existing solar panel factory in Dalton, Georgia. Hanwha Q Cells announced the capacity expansion earlier in May but had not revealed the location. The new capacity will utilize TOPCon cells and make modules for the U.S. rooftop market

In the second, Hyundai Motor Corporation has announced that it will build a $6.5 billion factory to make electric vehicles near Savannah, Georgia. The plant will occupy 2,923 acres and will create 8,100 jobs. Hyundai expects to begin construction on the plant in January 2023 and to reach full production in the first half of 2025.

Source: Gov. Kemp: Hyundai Motor Group to Invest $5.54 Billion in Georgia at First Fully Dedicated Electric Vehicle and Battery Manufacturing Facility (Governor Brian P. Kemp)

REPowerEU Could Lead to Tighter U.S. Methane Regulation

Provisions in the REPowerEU package that focus on reducing methane emissions in imported liquefied natural gas (LNG) could put pressure on U.S. producers to address upstream emissions, according to an analysis by E&E News. The publication describes U.S. producers as having “resisted” tighter regulation, and notes that the United States is the third-largest emitter of methane globally, following China and Russia.

Analysis: How Europe’s energy plan affects U.S. gas, offshore wind (E&E News)