US Chamber to host business leaders from largest global e...
As international climate change negotiations approach, top executives from business organizations in the world's 17 major economies will meet for the US Chamber of Commerce's Institute for 21st Century Energy.
The Major Economies Business Forum on Energy Security and Climate Change (MEBF) will be held in the state capital Sept. 21 and 22. The event's purpose is to facilitate a dialogue among global business groups in major developed and developing nations ahead of the UN climate change negotiations scheduled for early December in Copenhagen, Denmark.
"We are pleased to host business leaders from around the world for a candid discussion on the challenges and solutions to addressing global climate change while increasing energy options and economic growth," says Thomas J. Donohue, President and CEO of the US Chamber of Commerce and a keynote speaker at the forum's Welcome Dinner. "The Major Economies Business Forum should contribute to a more successful and realistic international climate change agreement in Copenhagen."
Among the confirmed speakers at the forum are US Senator Lamar Alexander (R-TN); Governor Joe Manchin (D-WV); and US Representative James Sensenbrenner (R-WI.). On the agenda are discussions on increasing technology innovation and investments, bolstering the business community's voice in the negotiations, harnessing available capital for energy and efficiency projects, and ensuring competitiveness and economic development.
"As both domestic and international climate change negotiations continue, it is important to remember that it will be up to the private sector to execute the decisions made in Washington and Copenhagen," says Karen Harbert, President and CEO of the U.S. Chamber's Institute for 21st Century Energy. "The Chamber's Major Economies Business Forum will provide a real-time reality check on the negotiations by addressing the topics that matter most to the global business community like the nexus between energy security and climate policies, intellectual property rights, technology, competitiveness and economic growth."
Participants in the MEBF represent nearly 10 million businesses in the world's largest nations, including Australia, Brazil, Canada, China, Europe, India and Japan. The MEBF is modeled after the government's Major Economies Forum on Energy and Climate, which last met in July in Italy. The group's 17 nations collectively make up 80 percent of the world's GDP, nearly 75 percent of global greenhouse gas emissions, and 77 percent of global energy consumption.
Lightsource bp’s first Spanish project powers up in Zaragoza
Lightsource bp has powered up its 247MW flagship solar project Vendimia in Zaragoza, Spain.
Around 615,000 bifacial solar panels have been installed, over 650 hectares of land on multi-row tracker technology enabling the panels to follow the sun, maximising energy generation efficiency. In addition, two overhead transmission lines at 18km and 20km were constructed to efficiently deliver the solar power into the local network.
The five-project cluster was constructed safely during the COVID-19 pandemic and commercial operation recently began. The total power output will be supplied to bp’s European power trading team under a long-term Power Purchase Agreement (PPA).
Fernando Roger, Country Head for Lightsource bp Spain, said the connection of its Vendimia project demonstrates the resilience of solar. "We had to face many challenges due to the COVID-19 pandemic, but our team and trusted partners remained focussed, and now we have completed our first project in Spain. We would also like to extend a special thank you to all the landowners involved for their continued support on this project.
Felipe Arbelaez, senior vice president for zero carbon energy bp said: “It’s fantastic to see the safe start-up of this first project in Spain, and for Lightsource bp to achieve an impressive 3GW pipeline in just two years. Through disciplined investment and safe execution, we are delighted to see the next chapter of bp’s energy story in Spain come online. This project is also a great example of the power of bp’s integration capabilities as our expert power trading team will offtake the power generated, supporting the financial stability of the project and meeting bp’s strict returns threshold.”
The construction process was handled by Lightsource bp’s appointed contractor, Prodiel (an Andalusian engineering, procurement and construction company) and over 600 local jobs were created during that time. Prodiel will continue to maintain the solar cluster under an Operations & Maintenance agreement for the next two years.
At the opening ceremony, Carlos Barassa, head of country for bp Spain, said: "The Vendimia solar project that we are inaugurating today in Zaragoza is great example of the fulfillment of bp's ambition in its transition to an integrated energy company, and our contribution to building a low-carbon future."
bp will pay 7X Energy $220 million for the projects and 1GW of 'safe harbour' equipment and expects the acquisition to complete in 30 days. The projects, spread across 12 states - with the largest portfolios in Texas (ERCOT) and MidWest (PJM) - are expected to meet bp’s low carbon investment criteria, generating returns of at least 8-10%.