ING Will Use Wind Energy Credits
Initially, the Dutch financial services firm will purchase enough credits to cover power use this year and next. ING will invest about $600,000 in the credits, according to Philip K. Margolis, an ING spokesman in Hartford.
Like most businesses, ING can't obtain its electricity directly from renewable energy sources, such as wind. Instead, it is contracting to purchase 70,000 megawatt hours of wind-energy credits. Each credit represents 1 megawatt-hour of electricity from wind energy sources.
Producers of such energy sell the credits through brokers and the money that is raised helps pay for generating electricity by wind, cutting down on energy production by burning fuels such as coal.
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A tidal project in Scottish waters just generated enough electricity to power nearly 4,000 homes
GLASGOW - A tidal power project in waters off the north coast of Scotland sent more than 13.8 gigawatt hours (GWh) of electricity to the grid last year, according to an operational update issued Monday. This figure – a record – almost doubled the previous high of 7.4 GWh in 2018.
In total, the MeyGen tidal stream array has now exported more than 25.5 GWh of electricity to the grid since the start of 2017, according to owners Simec Atlantis Energy. Phase 1A of the project is made up of four 1.5 megawatt (MW) turbines.
The 13.8 GWh of electricity exported in…
