Shell, GE Lured by LNG-Fueled Ships on Record Supply
Royal Dutch Shell Plc, General Electric and Clean Energy Fuels Corp. are planning investments in natural-gas-powered shipping as the U.S. continues to log-in record output of the said fuel. Just this August, U.S. output rose to 2.18 trillion cubic feet, the highest in four decades. Next year, Clean Energy Fuels will begin construction on the nation’s first fuel station for cargo ships running on liquefied natural gas in Jacksonville, Florida. Shell said in March that it is planning LNG plants for the Gulf Coast and Great Lakes while GE evaluates five locations for small-scale plants for ships, trains, mining and trucks.
Tata Cleantech May Finance $400 M Projects in India
Tata Cleantech Capital Ltd. may fund as much as 25 billion rupees ($401 million) of energy-efficiency and clean-energy projects in India as rising costs for coal-based power urges companies to look for alternatives. Solar power can be produced for as low as 8 rupees (13 cents) per kWH compared to 11 rupees that are being charged to some commercial buildings outside Mumbai. Tata Cleantech plans to fund energy-services companies that will invest in solar installations, run it, and sell the output under long term contracts at competitive rates- a model similar to U.S.-based SunEdison, which has raised more than $3 billion in investor financing.
Osborne Promises Reduction in UK Consumers’ Electricity Bills
U.K. power firms announced that they will cut prices for consumers after Chancellor of the Exchequer George Osborne promised to reduce government- imposed taxes to renewable energy. Centrica Plc , U.K.’s biggest power supplier, and SSE Plc says that they will cut energy bills by an average of about 50 pounds per year. While NPower, the U.K. unit of Germany’s RWE AG, says it will bar any significant increase in the cost of wholesale electricity to keep bills stable until 2015.
London’s Largest Street Light Investment Pushed energy Efficiency Forward
Transport for London (TfL) has agreed on a new energy efficient lighting program to reduce the cost of lighting its network of 52,000 street lights. The program will see the installation of Light Emitting Diodes as well as the use of a new system to monitor and dynamically control lighting levels depending on use. The program is seen to reduce power consumption by more than 40 percent by 2016. TfL says the program will dramatically cut CO2 emissions as well as bring savings of approximately 1.85 million pounds annually.