NEW YORK: Wind energy has surpassed hydropower as the biggest source of renewable electricity in the United States following the sector’s second-biggest quarter ever for new installations, a wind industry trade group said on Thursday.
Wind installations totaled 82,183 megawatts at the end of 2016, enough to power 24 million homes, the American Wind Energy Association said in its fourth-quarter market report.
By comparison, US hydroelectric capacity stands at about 80,000 megawatts, according to the federal Energy Information Administration.
Wind installations soared to 6,478 MW in the fourth quarter, accounting for nearly 80 percent of all of last year’s wind installations. The fourth quarter was the industry’s largest for installed capacity since the fourth quarter of 2012.
The 8,303 MW added for the year represented more than $13.8 billion in investment.
Just three turbine makers — General Electric Co, Vestas Wind Systems A/S and Siemens AG — accounted for up to 95 percent of the US turbine market in 2016.
Texas has more than 20 MW of installed wind capacity, or nearly a quarter of the market. Iowa is the second-biggest wind state, and Oklahoma overtook California for third place at the end of 2016.
The first offshore wind project in the United States also came online in the fourth quarter, the 30 MW Block Island wind farm off the coast of Rhode Island.
More than 10,000 MW of wind is under construction in the United States, about half of which is in Texas. New Mexico’s wind industry is growing rapidly, with 1,300 MW under construction. Once completed, those projects will double the size of New Mexico’s installed wind capacity.
Corporations and others outside the utility industry have become major purchasers of wind energy, accounting for 39 percent of capacity contracted in 2016. Projects for Google, Amazon and General Motors were completed in the fourth quarter. (Reporting by Nichola Groom; Editing by Dan Grebler)
Wind surpasses hydro as largest US renewable energy source
Wind surpasses hydro as largest US renewable energy source
Saudi investment pipeline active as reforms advance, says Pakistan minister
ALULA: Pakistan’s Finance Minister Mohammed Aurangzeb described Saudi Arabia as a “longstanding partner” and emphasized the importance of sustainable, mutually beneficial cooperation, particularly in key economic sectors.
Speaking to Arab News on the sidelines of the AlUla Conference for Emerging Market Economies, Aurangzeb said the relationship between Pakistan and Saudi Arabia remains resilient despite global geopolitical tensions.
“The Kingdom has been a longstanding partner of Pakistan for the longest time, and we are very grateful for how we have been supported through thick and thin, through rough patches and, even now that we have achieved macroeconomic stability, I think we are now well positioned for growth.”
Aurangzeb said the partnership has facilitated investment across several sectors, including minerals and mining, information technology, agriculture, and tourism. He cited an active pipeline of Saudi investments, including Wafi’s entry into Pakistan’s downstream oil and gas sector.
“The Kingdom has been very public about their appetite for the country, and the sectors are minerals and mining, IT, agriculture, tourism; and there are already investments which have come in. For example, Wafi came in (in terms of downstream oil and gas stations). There’s a very active pipeline.”
He said private sector activity is driving growth in these areas, while government-to-government cooperation is focused mainly on infrastructure development.
Acknowledging longstanding investor concerns related to bureaucracy and delays, Aurangzeb said Pakistan has made progress over the past two years through structural reforms and fiscal discipline, alongside efforts to improve the business environment.
“The last two years we have worked very hard in terms of structural reforms, in terms of what I call getting the basic hygiene right, in terms of the fiscal situation, the current economic situation (…) in terms of all those areas of getting the basic hygiene in a good place.”
Aurangzeb highlighted mining and refining as key areas of engagement, including discussions around the Reko Diq project, while stressing that talks with Saudi investors extend beyond individual ventures.
“From my perspective, it’s not just about one mine, the discussions will continue with the Saudi investors on a number of these areas.”
He also pointed to growing cooperation in the IT sector, particularly in artificial intelligence, noting that several Pakistani tech firms are already in discussions with Saudi counterparts or have established offices in the Kingdom.
Referring to recent talks with Saudi Minister of Economy and Planning Faisal Alibrahim, Aurangzeb said Pakistan’s large freelance workforce presents opportunities for deeper collaboration, provided skills development keeps pace with demand.
“I was just with (Saudi) minister of economy and planning, and he was specifically referring to the Pakistani tech talent, and he is absolutely right. We have the third-largest freelancer population in the world, and what we need to do is to ensure that we upscale, rescale, upgrade them.”
Aurangzeb also cited opportunities to benefit from Saudi Arabia’s experience in the energy sector and noted continued cooperation in defense production.
Looking ahead, he said Pakistan aims to recalibrate its relationship with Saudi Arabia toward trade and investment rather than reliance on aid.
“Our prime minister has been very clear that we want to move this entire discussion as we go forward from aid and support to trade and investment.”
