ILMA Compoundings - March 2021 - 11

In the Know
GE'S HALIADE-X SELECTED FOR FUTURE U.S. WIND FARM
Vineyard Wind 1, an 800-megawatt (MW) project located 15 miles off the coast
of Martha's Vineyard, Massachusetts, has selected GE as its preferred supplier
of wind turbine generators. The project will use GE's Haliade-X wind turbine
generators equipped with a direct-drive generator offshore wind turbine design,
eliminating the need for a gearbox or transmission. The Haliade-X generators
feature a 14-MW, 13-MW or 12-MW capacity, 220-meter rotor, a 107-meter
blade and digital capabilities, and they have a 60%-64% capacity factor above
industry standard.
SOLAR DOES WELL DURING PANDEMIC
While the oil and gas industry took a hit during the pandemic, Reuters reports
that the U.S. solar industry is doing better than expected. Analysts expect that
numbers will show the solar industry to have grown at the end of 2020. The solar
industry was anticipated to have increased 43%, slightly higher than expected,
because of the economic downturn. Still, solar energy accounts for only 3% of the
total power required in the U.S.
NYNAS EXITS U.S. SANCTIONS
As 2020 was coming to a close, the U.S. Treasury Department's Office of Foreign
Asset Control (OFAC) announced that Swedish oil company Nynas was no longer
being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a
corporate restructuring of Nynas AB's ownership, sanctions are lifted, and U.S.
people and companies no longer require authorization from OFAC to engage in
transactions or activities with Nynas AB. Nynas President Bo Askvik said, " Our
focus now is to successfully end the ongoing reorganization process, and having
exited sanctions, Nynas will be able to return to normal trading conditions and
secure long-term financing. "
FIA LEADING THE CHARGE FOR 100% SUSTAINABLE FUEL
The FIA, Formula 1 (F1) racing's governing body, approved an environmental
strategy plan to become carbon neutral in 2021 and net zero by 2030, in alignment with the Paris Agreement. FIA's technical department has been investing
considerable resources into the research, development and production of a 100%
sustainable fuel to meet that goal. The first barrels of second-generation biofuel,
exclusively refined using bio-waste, are being tested and validated. The FIA says
its objective is to demonstrate the technology works and encourage F1 suppliers
to develop their own 100% sustainable fuels.

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ILMA Compoundings - March 2021

Table of Contents for the Digital Edition of ILMA Compoundings - March 2021

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