Are lobbying groups API and ANGA making plans to merge?
As the energy industry evolves, new alliances are forming. One potentially massive new union is the one that could be forming between two major lobbying groups representing different factions of the energy sector. According to a new report, the American Petroleum Institute (API) and America’s Natural Gas Alliance (ANGA) could be joining forces to form one of the largest energy lobbying groups in the United States.
A recent report from Politico claims that sources close to both API and ANGA confirm that the two lobbying groups are in talks to merge. Though it isn’t yet known how close the groups are to reaching a deal, what is known is that separately the two groups are among the largest in the sector—with their forces combined, political site Open Secrets posits that the newly formed entity would be second only to Koch Industries and Exxon Mobil in size and influence. While API has historically spent exponentially more than ANGA to influence lawmakers, setting a personal record of $9.3 million in 2013 according to Open Secrets, it’s well known that interest in natural gas is increasing rapidly. As such, both API and ANGA have serious influence to offer.
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But with one group representing oil and the other representing natural gas, why would API and ANGA choose to partner up? API CEO Jack Gerard has spoken before about the importance of the oil industry working together with alternative energy sources in the future, so API’s interest in joining forces has some precedent. As Open Secrets adds, there could also be financial incentive:
With less to spend on their own, it could make sense for the groups to satisfy their members by pooling their financial resources and collective influences behind the power of API’s Jack Gerard. But with all of this still just speculation, it will be interesting to see whether the rumors come to fruition in the months to come.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.