Attending the Ocean Energy Europe event in Paris recently the considerable presence of developers and manufacturers signalled a long-term transformation for the sector, which - for tidal stream in particular - is now emerging as a technological reality.

A problem with bearing cooling at the Lookout Shoals plant helped Duke Energy uncover several other issues that needed to be resolved. Through creative approaches and significant machining work, the units are now operating dependably.

Enel SpA is putting the final touches on a yieldco that would hold its U.S. renewable energy assets, making it the latest power-plant owner to opt for a structure that frees up capital.

Sweden and Norway agreed to boost their target for renewable energy production amid concerns the additional capacity will exacerbate a power glut and strain the region’s electricity grid.

Beijing, where pollution averaged more than twice China’s national standard last year, will close the last of its four major coal-fired power plants next year.

U.K. electricity from low-carbon sources accounted for almost a quarter of the country’s generation in the fourth quarter as Drax Group Plc converted a second coal-power plant to burn wood.

Mexico has become the first developing nation to formally promise to cut its global-warming pollution, a potential milestone in efforts to reach a worldwide agreement on tackling climate change.

Investors have spent more than $2 trillion on clean-energy plants in the past decade and last year added more renewable capacity than ever before.

Political deadlock over Australia’s clean energy future is prompting companies such as Vestas Wind Systems A/S and Acciona SA to increasingly turn to rival markets for growth.

Australia’s largest electricity producer committed to close its coal-fired power plants within 35 years as part of an effort to cut the nation’s dependence on the fossil fuel.

Scientists and economists including BP Plc’s former chief executive officer, John Browne, are inviting governments to join a $150 billion program that aims to make clean energy cheaper than coal.

The European Commission raised concern that the U.K. and France may not meet their 2020 renewable energy targets, saying the two countries should examine whether they’re doing enough to reach the goals.

Uruguay hopes to generate as much as 38 percent of its power from wind by the end of 2017, up from about 13 percent now, cementing Uruguay’s position as South America’s top wind-energy user, according to Gonzalo Casaravilla, chairman of the state- owned electric utility UTE.

Stanford, Oxford and Georgetown universities have won praise for promising to purge their endowments of direct investments in coal, embracing the fight against climate change.

Stocks of clean-energy companies are proving to be better investments than those of companies that produce most of the Western Hemisphere's power, and are outperforming the rest of the stock market as well.

The evidence is found in the New York Stock Exchange Bloomberg Americas Clean Energy Index. Its 141 companies, all based in North and South America, returned 32.62 percent in the past two years. In contrast, the 40 conventional-energy companies in the Standard and Poor's 500 Energy Index returned 1.02 percent over the same period, according to data compiled by Bloomberg.

Clean energy also is beating the rest of the stock market. The Clean Energy Index is up 6.02 percent so far this year. Lagging behind are both the S&P 500 and the Russell 3000 Index, which gained 3.12 percent and 3.86 percent respectively in 2015.

German Economy Minister Sigmar Gabriel said 13 percent of power stations burning lignite, a cheap form of coal, would be phased out by 2021 under a program to cut power industry pollution. The government abandoned talks on proposals to impose a climate-change fee that the industry said would have forced mines and plants to close, threatening jobs.

Coal is having a hard time lately. U.S. power plants are switching to natural gas, environmental restrictions are kicking in, and the industry is being derided as the world's No. 1 climate criminal. Prices have crashed, sure, but for a real sense of coal's diminishing prospects, check out what's happening in the bond market.

Publicly, the United Nations climate-change talks look mired in disputes over everything from money to the length of the proposed agreement.

India's Union Cabinet has approved cost revisions for its intergovernmental agreement with the Royal Government of Bhutan to implement the 1,200-MW Punatsangchhu-1 hydroelectric project on Bhutan's Punatsangchhu River.

Executives from 13 major U.S. corporations are announcing at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit later this year in Paris.

Companies including Apple Inc., Berkshire Hathaway Energy Co., and Goldman Sachs Group Inc. will join Secretary of State John Kerry and top administration officials at the White House for the announcement. In addition to pledges to cut emissions, provide financing to environmentally-focused companies, and reduce water consumption, the companies have said they will procure at least 1,600 MW of new, renewable energy. The White House said in a statement that it expects to announce a second round of similar pledges later this fall from additional companies.

The commitments are being announced as President Barack Obama is looking to build momentum toward a legacy-defining global climate accord in Paris. In addition to company-specific commitments, the corporate leaders on Monday will signal their support for a strong climate agreement out of the United Nations talks. They administration is using the pledges to set an example for companies to find ways to eliminate their carbon emissions.

Climate Talks

“As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential,” the White House said in a fact sheet detailing the announcement.

The administration’s actions are pushing the issue into the 2016 presidential debate. Hillary Clinton, the front-runner for the Democratic nomination, released an energy strategy saying she would both defend and go beyond Obama’s efforts. Republican candidates have criticized the administration’s initiatives as costly to the economy and unnecessary.

Among the pledges, aluminum manufacturer Alcoa Inc. has agreed to reduce emissions by 50 percent from its 2005 levels, while agricultural giant Cargill Inc. says 18 percent of its total energy use will come from renewable sources.

Coca-Cola Co. said it would drive down the carbon footprint of its beverage production by 25 percent over the next five years, while Google says it plans to triple its purchases of renewable energy over the next decade. Berkshire Hathaway says it plans to invest up to an additional $15 billion in the construction and operation of renewable energy generators, while Bank of America Corp says it will increase its environmental business initiative by $75 billion over the next decade, according to the White House

Other participating firms include Wal-Mart, United Parcel Service Inc., PepsiCo Inc., Microsoft Corp., General Motors Inc.

The corporate commitments won’t be the administration’s only major climate announcement in the next few weeks. The Environmental Protection Agency is set to present final regulations that aim to reduce carbon emissions from power plants by 30 percent from 2005 levels by 2030 later this week.

While visiting Kenya over the weekend, Obama repeatedly praised the country for its efforts to address climate change, saying its efforts tor educe emissions “has put it in the position of being a leader on the continent.” And next month, the president will travel to Alaska for an international summit on Arctic climate issues.

©2015 Bloomberg News

For more, see Big Companies, Big Renewable Investments.

Engineering firm Lahmeyer International GmbH and sub-consultant Manitoba Hydro International have been awarded a contract by Tanahu Hydropower Ltd. to provide a number of services associated with the development of the 140-MW Tanahu pumped-storage project in Nepal.

HydroEvent.com, the one-stop location for all things related to the world’s largest hydro event, is up and running for HydroVision International 2016. The conference and events are scheduled for July 26-29 in Minneapolis, Minn. at the Minneapolis Convention Center. 

On Aug. 27, Rwanda’s Ministry of Infrastructure government announced it has leased 22 small hydropower projects located in the northern and western provinces to private investors to spur the country’s hydroelectric energy program. According to energy experts at the ministry, the plants would add about 24.6 MW of hydroelectric energy to the national grid. 

According to the Federal Register, potential power is presently unutilized at the 800-kW East powerhouse and proposed 700-kW West powerhouse for the Potsdam hydroelectric project on the Raquette River in Lancaster County, New York. The proposed West powerhouse received a Federal Energy Regulatory Commission exemption from licensing in 1981.  

Knight Construction & Supply Co. has won a $3.7 million contract from the U.S. Army Corps of Engineers to rehabilitate spillway gates at the Blue River Dam in Oregon.

Japan, the third-largest global bond player, is now becoming involved in using green bonds to have an affect on renewable energy that will likely include hydroelectric projects.  

Japan, the third-largest global bond player, is now becoming involved in using green bonds to have an affect on renewable energy that will likely include hydroelectric projects.  

The International Hydropower Association has been re-elected to the steering committee of the Renewable Energy Policy Network for the 21^st Century (REN21).

The Chilean government's Council of Ministers rejected 27 claims filed by indigenous communities opposing the construction of the 210-MW Mediterraneo hydropower project, at least temporarily allowing development of the controversial plant to continue.

On Nov. 11, Germany-based Aquila Capital announced it has signed an agreement with four Norwegian utility companies -- Statkraft AS, Agder Energi, BKK and Skagerak Energi -- to acquire all shares of Smakraft AS, Norway's largest small-hydro company.  

During the Ocean Energy Europe 2015 conference held in Dublin, Ireland, in late October, about 500 high-level delegates, which included European Union and Member States business leaders and energy ministers, were presented a draft of the “strategic roadmap” for developing the European marine hydrokinetics (MHK) energy sector.
 

As the Zambezi River Authority (ZRA) of Zambia and Zimbabwe seeks to secure funding for the 2,400-MW Batoka Gorge hydroelectric facility, the region is experiencing rolling blackouts based on reduced inflow to existing hydroelectric generating facilities. 

Murilo Ferreira, chairman of Brazil-based energy conglomerate Petrobras (Petroleo Brasileiro SA), has stepped down effective Nov. 30.

Tidal energy developer Atlantis Resources remains on track to deliver power to the Scottish power grid from the MeyGen site in the coming year, according to an end-of-year statement issued by the company earlier this week.

The European Marine Energy Centre (EMEC) has signed Flemish wave energy developer Laminaria to test its marine hydrokinetic (MHK) energy device at EMEC’s grid-connected wave test site at Billia Croo, off the west coast of Orkney, Scotland.
 

Congress today announced details of a year-end tax deal that could provide a two-year extension on provisions for hydroelectric and marine hydrokinetic resources.

Capping a busy February for the European Marine Energy Centre is an announcement that tidal turbine manufacturer Tocardo has signed a 20-year deal for testing at EMEC's array in Orkney.

The U.S. District Court for the District of Oregon ruled on May 4 that the 2014 Columbia Basin salmon biological opinion violates the Endangered Species Act and National Environmental Policy Act, and declared it invalid.

Less than two weeks after 175 nations signed the pivotal Paris Agreement on climate change, a question lingers: What happens now?

Italian construction and civil engineering firm Salini Impregilo has been awarded a US$2.8 billion contract to build the 2,200-MW Koysha hydropower plant in Ethiopia.

Hydroelectric power developer Gilkes Energy has begun construction on a trio of small hydro projects, all of which are to be located on the Attadale Estate near Loch Carron, Scotland.

The U.S. Army Corps of Engineers has signed a memorandum agreement with the Southeastern Power Administration, Tennessee Valley Authority and Tennessee Valley Public Power Association, Inc., to perform a variety of work at Corps hydropower projects.

The 382-MW Ulu Jelai hydropower project, which began construction in 2011, is 95% complete and expected to be fully-commissioned in the third quarter of this year, in the district of Cameron Highlands, Pahang, Malaysia, according to state-owned power utility Tenaga Nasional Bhd (TNB), Malaysia's largest utility company and the project’s owner.
 

British Columbia-based tidal developer, Yourbrook Energy Systems Ltd., is testing what it calls a prototype of a shallow water tidal-powered generator pump that could one day be used as part of a pumped storage hydroelectric project.
 

RWE Innogy UK Ltd. is awaiting a decision by the end of August or in early September on its resubmitted planning application for the run-of-river US$17 million, 5 MW hydroelectric project located across Conwy Falls and Fairy Glen near Betws-y-Coed, the principal village of Snowdonia National Park, in northwest Wales, UK.  

Brazilian power regulator Agencia Nacional de Eneria Eletricqa (Aneel) has set wholesale cap prices for an upcoming power auction that includes more than 130 small hydroelectric plants.

Developer SN Aboitiz Power-Ifugao has said it remains committed to developing the 390-MW Alimit hydropower project in the Philippines, pending consent from indigenous groups impacted by its construction.

A Brazilian federal court has suspended an operating license for the 11.2-GW Belo Monte hydroelectric plant, stating that its developers have failed to provide water and sewage services to areas near the project.

A pair of applications filed by the Klamath River Renewal Corporation today with the Federal Energy Regulatory Commission puts into official motion a long-standing plan to remove four hydroelectric plants on the Klamath River.

U.S. Sens. Ron Wyden, D-Ore., Jeff Merkley, D-Ore., Lisa Murkowski, R-Alaska, and Patty Murray, D-Wash., today announced funding will be awarded to build the United States’ first open-ocean, power grid-connected wave energy test facility at a site off the Oregon coast, according to a U.S. Senate press release.