A quick transition to clean energy has been one of the main themes in the U.S presidential campaigns ahead of the November 3 election. Democratic presidential candidate Joe Biden has been the most vocal in a push for clean energy sources to trim emissions and counter global warming. Amid the push, companies and some regions have also ramped up investments and policies designed to accelerate a clean energy transition.
Boulder Clean Energy Push
Boulder, a small town in Colorado, has been one of the most vocal advocates for clean energy as part of resident’s effort to stem emissions. The residents are currently engaged in a fierce legal tussle with Xcel Energy that services the city on their push to create their own Municipality.
The city has already spent $28.7 million in legal engineering and other work. The residents want a 20-year agreement implemented that will see the city transition into 100% clean energy. Xcel, an old school carbon-focused utility, has found itself at crossroads as achieving 100% clean energy by 2030 looks unlikely.
Rhode Island Wind Power Push
Boulder city is not the only one focused on clean energy. Rhode Island has confirmed plans to double down on offshore wind power. The Ocean State has continued to set records, having become home to the first offshore wind farm in the country with the construction of a 30-megawatt Block Island Wind Farm in 2016.
The Island state has already inked a 400-megawatt contract for a wind power project to be constructed southwest of Martha’s Vineyard. In the recent past, Governor Gina Raimondo has confirmed plans to procure an additional 600 megawatts of power generated by towering wind turbines.
DTE Energy Divests Midstream Business
Even as Rhode Island doubles down its wind power project, the DTE Energy (NYSE:DTE) Board of directors has unanimously approved the spin-off of the company’s DTE Midstream business, non-utility natural gas pipeline storage and gathering business. The plan is to transform DTE Energy into a pure-play regulated electric and natural gas utility. In addition, Midstream is to become an independent publicly-traded company.
