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New York Announces 1,700 MW of New Offshore Wind Projects and 70 Percent Renewables Requirement by 2030

LCG, July 22, 2019--The Governor of New York announced last Thursday that the State has executed the nation's largest offshore wind agreement - totaling approximately 1,700 MW - in U.S. history. The Governor also signed the Climate Leadership and Community Protection Act (CLCPA), which includes a mandates of 9,000 MW of offshore wind by 2035, 70 percent renewable energy by 2030, plus a Zero-Carbon Emission Electric Sector by 2040.

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Georgia PSC Approves Georgia Power's 2019 IRP

LCG, July 18, 2019--The Georgia Public Service Commission (PSC) has unanimously approved Southern Company subsidiary Georgia Power's 2019 Integrated Resource Plan (IRP), which was submitted in late January.

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Industry News

Peru to Go Ahead with Privatization Plan After Long Delay

LCG, December 13, 2002-After repeatedly delaying sales of national assets, Peru plans to begin privatization after new government officials take office January 1.

Peru had planned to sell state assets, including energy companies Egasa and Egesur, for $700 million. Earlier this year the country was forced to halt plans several times as investors pulled out and nationwide protests were held, resulting in the deaths of three protestors in June.

Now the country is ready to try again, poised to win the partnership of 25 regional governors who will take office soon. No one is quite sure of how control over state-owned assets will be divided between regional and central governments, as the creation of regional governments was voted on only recently, on November 17. However, the government agency Pro-Inversion, which is responsible for the sales of government assets, is positive about working with new regional governments.

Peru has decided to limit privatization of hydroelectric assets but is still interested in selling plants and gas projects. The energy companies Egasa and Egesur may be sold to Belgian company Tractabel for $167.4 million, pending court decisions.

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