NorthRenew Energy's Mesquite Sky Wind Project Commences Construction

LCG, January 21, 2021 -– NorthRenew Energy (“NorthRenew”) announced today that Clearway Energy Group (“Clearway”) achieved construction commencement on the Mesquite Sky Wind Project, f/k/a Baird North Wind Project (“Mesquite Sky”), initially developed by NorthRenew and sold to Clearway in 2019. Following the sale in 2019, NorthRenew continued to assist Clearway with final development and pre-construction services.

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Minnesota Power Announces Vision for 100 Percent Carbon-Free Energy by 2050

LCG, January 13, 2021--Minnesota Power, an ALLETE company, yesterday announced its vision to deliver 100 percent carbon-free energy to customers by 2050.

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Industry News

Argentina's Booming Economy Hit by Natural Gas Shortage

LCG, Apr. 5, 2004--Blackouts have affected numerous industries in Argentina, due to artificially low prices for natural gas that have stoked demand and deterred companies from unprofitable exploration efforts.

The situation, which has prompted utilities to lower voltage to keep power flowing, also caused the legislature during the past weekend weekend to permit gas companies to raise gas prices by 100 per cent, over a fifteen-month period. Prior to that step, it passed a resolution restricting the amount of exports to foreign countries, in order to make more natural gas available for power generation. Small users of gas, however, are protected from price increases, and will continue to pay for gas at a rate well below what is paid in other countries.

Gas prices were fixed at artifically low levels under an emergency decree in early 2002. Among other things, this encouraged the conversion of over one million vehicles to natural gas-burning engines, from gasoline-burning. The government of Nestor Kirchner has said that it will exchange exports of meat and grain for imports of fuel oil and gas oil from Venezuala, for use at electricity generating plants. Even with price increases, however, prices will be artificially low, and an excess of demand over supply is likely, unless the prices can rise sufficiently to encourage exploration and drilling for gas.
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