Weekly Energy Charts
February 06, 2023
Featured Stories
Orphaned Renewable Equipment, is it possible?
Marc Vermette
Many of Alberta’s rural municipalities were left in the dust when the oil price crashed last decade, resulting in billions of dollars of equipment being left behind by bankrupt fuel companies.
Because of this, many rural Albertans are not optimistic when they see massive developments of wind and solar energy: they fear a repeat of the province’s orphan well crisis.
Map of all the orphan wells in Alberta, 2017. Credits: BOE Report.
Renewable energy companies are required to provide an overview of how they plan to cover decommissioning and reclamation costs before they can proceed with their project.
And, unlike oil and gas leases, there is no split title in the case of renewables. The government will not force access. For landowners, entering into a wind or solar lease is entirely voluntary.
This differs from a resource lease where property (or surface rights) owners are not allowed to refuse access to companies that plan to develop fossil fuels under the surface of their land. And, once a well has been drilling, landowners have limited standing to ensure its timely reclamation. In the case of a renewable energy development, landowners would not be required to cede their property rights, although they may choose to do so.
Might the recent burst in renewable energy development cause a repeat of past events? If so, it certainly won’t be for the same reasons.
India ups clean energy spending
Yousaff Habib
The Indian government has pledged to invest $4.3 billion USD in green technology to reduce carbon intensity of the economy and create jobs in its latest annual budget. The investment will focus on solar power from the Himalayan region of Ladakh and green hydrogen production. The petroleum and natural gas ministry will oversee the investments, which will include subsidies for private-sector battery energy storage projects, pumped storage, and investments in electricity transmission lines.
An engineer with installed panels, Bhadla Solar ParkCredit:Sajjad Hussain
Additionally, India’s government has launched a national green hydrogen mission which aims to produce 5 million metric tons by 2030. The budget also includes money to adapt to the effects of climate change and to build irrigation systems and mangrove trees. However, the government’s transportation policies have received criticism for promoting both clean and polluting forms of transport. This investment comes amid many energy concerns and goals for India — between global warming, rising sea levels, a need for energy independence and a governmental push for locally made electric vehicles — the need for a reliable, clean source of energy is becoming increasingly apparent.
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