Ørsted CEO expects strong growth in U.S. renewable market to continue even without incentives

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Denmark’s Ørsted A/S is ramping up its expansion into the U.S. renewables market, where it expects continued cost reductions and higher prices for corporate power deals to fuel sustained growth after renewable tax credits are phased out.The largest offshore wind producer in the world broke into the U.S. onshore wind market with its acquisition of Chicago-based wind developer Lincoln Clean Energy LLC in October and announced on May 1 that it was buying a subsidiary of solar developer Coronal Energy, marking its first dip into photovoltaics and storage.“The U.S. solar market has significant potential,” Ørsted CEO and President Henrik Poulsen said on a call to discuss the company’s first-quarter earnings on May 1. “We believe the combination of onshore wind, solar PV and storage gives us a very strong platform for long-term growth in the U.S.”Poulsen said the acquisition includes Coronal’s development team and utility-scale solar and storage project pipeline. The company, headquartered in Pasadena, Calif., and backed by Japanese giant Panasonic Corp., has a multi-gigawatt-development pipeline in more than 20 states, according to its website.Ørsted expects its burgeoning U.S. onshore business to thrive despite the phaseout of renewable production tax credits, or PTCs, this year, as the subsidies will be offset by higher prices on corporate power purchase agreements, or PPAs, and continued cost declines, especially for onshore wind.“Beyond the PTC expiry, there is no doubt that the market will need to go for realignment,” Poulsen said. “Right now, corporate PPAs have been struck at prices that are very low and I’ll claim are very attractive to the corporations buying green power … because of the PTC support. I have no doubt that we’ll continue to be a strong market in the U.S., also beyond PTC,” he added.More ($): Ørsted sees bright prospects for U.S. expansion after end of renewable tax credits Ørsted CEO expects strong growth in U.S. renewable market to continue even without incentiveslast_img read more

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Men’s basketball tops Nevada

first_imgOkongwu, who scored 6 points in 27 minutes, said he relished the team’s first opportunity to play on the road.   “I was telling [the freshmen] ‘Make sure you guys stay composed,’” Rakocevic said. “We just have to stay focused because it’s [the freshmen’s] first road game. I remember when I was a freshman. Overall, I think they played great.” “We thought our interior players were a little more experienced and a little better players overall,” Enfield said. “We thought we really needed to dominate the paint, and we did. Give our three bigs credit. They all played very good basketball.” Redshirt senior guard Daniel Utomi pitched in with 12 points and four boards. Weaver scored 11 points while shooting 50% from the field.  The Trojans followed up Drew’s layup with a 13-0 run during which all but three of their points came in the paint. The run put USC up 31-21 with 4:13 left before the end of the half, and the team never relinquished its lead.  The Trojans started the night strong from their first possession. Just over 20 seconds into the game, sophomore point guard Elijah Weaver drove hard to the basket before collecting his dribble and dishing it to a trailing Rakocevic, who caught Weaver’s pass in the lane for an easy dunk.  “I think we came out here and used our size advantage and played super aggressive,” senior forward Nick Rakocevic said after the game. “We played good defense and didn’t turn the ball over.” The play set the tone for the evening, and USC jumped ahead to an 8-point lead less than five minutes into the game. The Wolf Pack battled back, however, and took the lead six minutes later. A layup by Wolf Pack senior guard Lindsey Drew extended Nevada’s lead to three with 8:33 left in the first half.  Senior forward Nick Rakocevic led the Trojans in points for the second game in a row, finishing with 24 on the night against Nevada. (Sarah Ko / Daily Trojan) USC’s defense also shined during the contest. In the second half, the Trojans held Nevada to 23% shooting on 16 attempts from behind the arc. center_img Rakocevic paced the team in points with 24 on the night. Rakocevic also led the team with two steals, and his 11 rebounds were matched only by freshman forward Onyeka Okongwu.  In addition to being USC’s first road opponent of the season, Nevada was also the Trojans’ toughest challenger yet. Last season, the Wolf Pack went undefeated at home before reaching the NCAA Tournament as a No. 7 seed. The roar of the 9,833 fans in attendance at Lawlor Events Center only added to the challenge the Trojans faced. “It was our first road game, and we wanted to come out with a lot of energy, aggressive and be tough,” said Okongwu. “I love playing on the road because I love the atmosphere and the hostility.” USC returns home to Galen Center to take on Pepperdine 6 p.m. Tuesday. USC’s size and interior presence proved too much for Nevada. The Trojans outscored the Wolf Pack by 32 points in the paint.  USC passed its first road test of the season Saturday night with a 77-66 win over Nevada. With the victory, the Trojans improve to 4-0 while the Wolf Pack fall to 2-2 on the season.  USC head coach Andy Enfield shared Rakocevic’s assessment.  “That’s really good defense on our part,” Enfield said. “I’m really proud of our young men.”last_img read more

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