UPDATE: CHINA state power firm partners with local govt to develop CO2 credits

  

(Reuters) -The State Power Investment Corporation, one of China's big five state power producers, signed a deal with the municipal government of Jiuquan on Tuesday to develop carbon credits from the city's wind and solar power plants.The partnership, the first of its kind, will give the state-owned company the opportunity either to buy carbon credits generated by local renewable energy projects or sell them to other market participants.The city of Jiuquan, home of some of China's largest wind and solar power plants, will offer the credits generated by 23 solar power projects in a single package."We will set up an institution to manage the first batch of 23 solar projects, small ones that are in need of external financing, and will aim to sell on carbon exchanges where prices are higher," said Zhou Xuehai, the city's vice mayor, speaking at a press conference. Jiuquan is planning to build a total of 5 gigawatts (GW) of wind power and 1.5 GW of solar power capacity. It is looking to China's carbon markets to make the projects more profitable. "New solar projects have better chance to be allowed for compliance use. The earlier we gain a foothold, the cheaper the costs would be," said Han Shudong, chief engineer of the carbon asset management subsidiary of the state power giant.Han said the company is also looking to packaging those credits into financial products and to setting up a green fund investing in carbon-related clean projects. To provide incentives for industries to cut emissions and shift to cleaner energies, China has already set up seven local carbon exchanges and a nationwide scheme is due to go into operation at the end of next year or the beginning of 2017.Over 10,000 Chinese companies are likely to be covered in the national carbon market, and will mostly consist of big state-owned power, oil and steel making firms.China's power sector, responsible for half of the country's emissions, is at the front line of carbon trading. The Huaneng Group, China's biggest state power generator, has reported a 16.1 percent return on its 30 million yuan ($4.8 million) carbon fund launched in 2014.China's biggest oil refiner Sinopec has traded nearly 3.9 million allowances in China's pilot carbon markets, with a market value of 140 million yuan. ($1 = 6.2084 Chinese yuan) (Reporting by Kathy Chen and David Stanway; Editing by David Holmes) http://af.reuters.com/article/energyOilNews/idAFL3N10834V20150728

RENEWABLE ENERGY: SOLAR FARM under construction at University of Illinois - expected to produce Power by Christmas

The 21-acre farm will be built on open land on the far south side of the Urbana-Champaign campus. It will eventually provide 2 percent of the campus' power. The first panels will go up in mid-September, said Morgan Johnston, associate director of sustainability at UI Facilities and Services. The farm is being built in partnership with Phoenix Solar of San Ramon, California. The university will pay the company $15.5 million over 10 years to run the solar farm and then take it over. University officials say that cost is $5.3 million more than buying the power from more conventional sources, but the solar farm is part of a plan to help the campus meet renewable energy commitments in its 2010 Illinois Climate Action Plan. And the university says it will be able to run the farm at little cost after it takes over the facility. The university has other, smaller renewable energy projects such as a rooftop solar facility on the Business Instructional Facility.
The new solar farm's construction was initially supposed to occur in 2013 but was delayed after a state procurement officer questioned, among other things, the bidding process. The project was eventually cleared to go ahead. Some have also questioned whether central Illinois is sunny enough for the project to work as billed. University officials say other, smaller solar projects on campus and elsewhere in the area are effective.

CHAMPAIGN, Ill. (AP) —http://www.sfgate.com/business/energy/article/Work-begins-on-University-of-Illinois-solar-farm-6419460.php___
Information from: The News-Gazette, http://www.news-gazette.com

CORPORATE SOCIAL RESPONSIBILITY: SEMPRA ENERGY: Sustainable Business Model on Climate Change Mitigation & Adaptation

"Growing Responsibly" focuses on the company's progress in reducing air emissions, conserving water, achieving safety goals, meeting energy-efficiency standards, developing renewable energy projects and encouraging diversity among employees and suppliers."To be successful, we must provide safe and reliable service to our millions of customers and continue to grow our business in a sustainable way," said Debra L. Reed, Sempra Energy's chairman and chief executive officer. "Our corporate responsibility report this year includes substantive discussion on how we are prepared to address key industry topics. By planning for the future in a deliberate and responsible way, we enable strong performance in many key areas of our business."

Highlights from the 2014 report include:

• Emissions: The Sempra Energy family of companies' 2014 carbon-dioxide emissions rate was more than 40-percent below the U.S. average.
• Renewable energy: Through its subsidiary Sempra U.S. Gas & Power, Sempra Energy has developed nearly 1,100 megawatts (MW) of renewable energy and expects to be invested in 2,000 MW by 2018.
• Safety: The Sempra Energy companies achieved a consolidated recordable incident rate 15 percent better than the company's target.
• Diversity and inclusion: More than half of Sempra Energy's U.S. workforce is comprised of ethnic minorities. In 2014, SoCalGas and SDG&E achieved 48.4 percent and 44.4 percent, respectively, in spending with diverse business enterprises, exceeding targets established by the California Public Utilities Commission.
• Charitable contributions: In 2014, Sempra Energy and its core businesses made charitable contributions of $18.6 million. Employees contributed another $3.2 million and volunteered 20,500 hours in their communities.

Sempra Energy's corporate responsibility report is available online at sempra.com/responsibility.

Sempra Energy's four principal subsidiaries are Southern California Gas Co., San Diego Gas & Electric, Sempra U.S. Gas & Power and Sempra International.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2014 revenues of $11 billion. The Sempra Energy companies' 17,000 employees serve more than 32 million consumers worldwide.

  

SAN DIEGO, July 31, 2015 /PRNewswire/ -- http://www.prnewswire.com/news-releases/sempra-energy-releases-2014-corporate-responsibility-report-300121963.html