Trillion Dollar Opportunity. There’s been a shift in the financial world when it comes to what type of energy markets it is focused on. Goldman Sachs announced their renewed focus on the opportunity to finance the energy transition. The goal is to drive $750billion towards the energy transition with several markets as the core drivers, starting with clean energy.
No Deal, Big Dreams. The COP25 meeting left members without a deal to take home. In hopes to keep 2050 temperature rise below 1.5 degrees, strong policies were being debated. Without the US at the table, it was up to other nations to fill the leadership role. In reality it will rejuvenate when the US leadership is reinstitated in the future on the issue of climate change.
Settlement Rejected By Newsom. Governor Newsom, on Friday, rejected the $13.5billion wildfire settlement that PG&E announced a few weeks ago. This leaves a crucial step incomplete in the path to coming out of bankruptcy. The legislature has a June 2020 deadline for PG&E to fulfill many major accomplishments and it looks like there is a lack of forward momentum for the corporation. It leaves to wonder how much longer the shareholders will leave the current management in place while things get sorted.
- Goldman Sachs: $750billion Energy Transition Financing
- Axios: Marathon UN climate talks sputter to a close but avoid collapse
- New York Times: California Governor Rejects PG&E’s Restructuring Plan
- Bloomberg: Congress Mulls Reviving Tax Breaks Prized by ADM, Tesla, GM
- Utility Dive: Arizona rejects APS push for 2-year PURPA contracts, approving 18-year terms
- PV-Magazine: California seeks $600 million+ for battery backups in “high fire threat districts”
- Grist: In Colorado coal towns, the next generation is turning to solar
Opinion
Best, Yann