In ‘Symbolically Charged Move,’ a Record Faith-Based Fossil-Fuel Divestment by Investors With $5.5 Trillion in Assets

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:More than 40 Catholic institutions are to announce the largest ever faith-based divestment from fossil fuels, on the anniversary of the death of St Francis of Assisi.The sum involved has not been disclosed but the volume of divesting groups is four times higher than a previous church record, and adds to a global divestment movement, led by investors worth $5.5tn.Church institutions joining the action include the Archdiocese of Cape Town, the Episcopal Conference of Belgium and the diocese of Assisi-Nocera Umbra-Gualdo Tadino, the spiritual home of the world’s Franciscan brothers.A spokesman for the €4.5bn German Church bank and Catholic relief organisation Caritas said that it was committing to divest from coal, tar sands and shale oil.In a symbolically charged move, the Italian town of Assisi will also shed all oil, coal and gas holdings the day before a visit by the Italian prime minister, Paolo Gentiloni, to mark St Francis’s feast day.The origins of the latest church action lie in last year’s climate encyclical by Pope Francis – himself named after St Francis of Assisi – although the project was advanced by the Global Catholic Climate Movement.More: Catholic Church to Make Record Divestment From Fossil Fuels In ‘Symbolically Charged Move,’ a Record Faith-Based Fossil-Fuel Divestment by Investors With $5.5 Trillion in Assetslast_img read more

U.S.’ largest battery storage system begins operation in California, much more in the pipeline

first_imgU.S.’ largest battery storage system begins operation in California, much more in the pipeline FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Power plant developers LS Power Group and Terra-Gen LLC added two big new lithium-ion battery stations to the California ISO’s expanding portfolio of electrochemical energy storage in June, marking the start of a potential sevenfold jump in battery resources on the state’s primary power system in 2020.That includes the initial 62.5-MW phase of LS Power’s planned 250-MW Gateway Energy Storage Project, which came online June 9, one week after 16.5 MW of battery storage at Terra-Gen’s Mojave 90 wind-storage hybrid project entered service, CAISO data shows.Located next to the natural gas-fired Otay Mesa Generating Project in San Diego County near the U.S.-Mexico border, LS Power’s Gateway system is now the largest operational battery storage facility in the United States, according to S&P Global Market Intelligence data. The previous biggest system, LS Power’s 40-MW Vista Energy Storage facility, is also in San Diego County.“Utility-scale battery energy storage projects such as LS Power’s Gateway and Vista projects are effective ways to enhance grid reliability and reduce costs to consumers by shifting energy from midday solar production hours to the evening peak,” John King, LS Power’s executive vice president for renewables, said in an email.Battery storage is a critical part of California’s strategy to replace retiring natural gas generation while balancing rising volumes of variable renewable energy resources, especially solar power, that are increasingly curtailed in the middle of the day amid power oversupplies.Together, the two new projects boosted energy storage on the state’s primary transmission system to roughly 215 MW, from 136 MW at the start of the year, a CAISO official said. If all of the energy storage projects seeking 2020 interconnection remain on track, the grid operator expects to have roughly 923 MW of battery storage online by the end of 2020.[Garrett Hering]More ($): Most powerful U.S. battery system charges up in Calif. storage surgelast_img read more