First U.S. utility scale offshore wind farm will cut Massachusetts customer bills by $1.4 billion

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First U.S. utility scale offshore wind farm will cut Massachusetts customer bills by $1.4 billion

first_imgFirst U.S. utility scale offshore wind farm will cut Massachusetts customer bills by $1.4 billion FacebookTwitterLinkedInEmailPrint分享Bloomberg News:Massachusetts electricity users will save about $1.4 billion over 20 years from the first commercial-scale offshore wind farm in the U.S.Avangrid Inc. and Copenhagen Infrastructure Partners, joint developers of the 800-megawatt project south of Martha’s Vineyard, expect to provide power and renewable energy credits for 6.5 cents a kilowatt-hour according to a letter Wednesday from the state Department of Energy Resources.That’s a levelized price in 2017 dollars over the term of the contracts, and makes the Vineyard Wind project about 18 percent cheaper than other alternatives, according to the letter. It’s also lower than the wind industry expected and shows that offshore wind can be a competitive source of clean energy as costs continue to come down.“That’s pretty shocking for us,” said Tom Harries, a wind analyst at Bloomberg NEF. “I think the wider industry expected much higher prices. The repercussions of this are it will probably awaken a lot of other coastal states to the value of offshore wind.”As prices continue to fall, offshore wind is expected to grow by 16 percent annually through 2030, driven by installations in the U.K., Germany, Netherlands and China, according to BNEF. The U.S. is a latecomer to the market, and early projects may cost more than those in Europe, in large part because developers will need to import components for the massive offshore structures, which can be as big as 600 feet (183 meters).With Vineyard Wind, the U.S. is starting to close the gap, Harries said. While offshore wind is still more costly than onshore wind and solar, it offers other advantages, notably that the turbines will generate power in the winter when prices are high.Federal tax credits and a long-term power-purchase agreement were part of the equation that helped the wind project “offer an attractive price to the benefit of consumers,” Lars Thaaning Pedersen, chief executive officer of Vineyard Wind, said in a statement.“The general consensus was that it would take a while for new markets to reach levels we’ve seen in Europe and the U.S. seems to be doing this pretty fast,” he said. More: First Big U.S. Offshore Wind Farm Offers $1.4 Billion to Customerslast_img read more

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Chinese tourists welcome to extend their stays: Bali deputy governor

first_img“Our immigration will be more flexible toward Chinese tourists who overstay their visits,” said the deputy governor.Moreover, Tjokorda said he would do his best to prevent discrimination against Chinese tourists, in light of the coronavirus.“By installing thermal scanners in the airport, as well as other methods, we hope the public will stop worrying about the virus, which could lead to discrimination against Chinese tourists in hotels or other places in Bali,” he said. Bali has prepared anticipatory measures against the spread of the coronavirus by implementing a monitoring system, which has been used since the Severe Acute Respiratory Syndrome (SARS) outbreak in the early 2000s. The Bali administration has allowed Chinese tourists in the island to extend their visas despite the government’s travel restrictions to prevent a coronavirus outbreak. Bali Deputy Governor Tjokorda Oka Artha Ardhana Sukawati said he welcomed Chinese tourists with open arms if they felt safer in Indonesia.The Chinese tourists in Bali did not have to return to their country because of the temporary restrictions, he added. “We believe that the government will be able to handle the coronavirus case properly so that the relationship between Indonesia and China, especially in the tourism sector, will be able to return to its previous state,” Tjokorda said as quoted by Antara, adding that the province, also known as the Island of the Gods, would hold mass prayers at Pura Batur temple in Bangli, hoping for an end to the outbreak.Meanwhile, Chinese Consul General in Denpasar Gou Haodong said he felt touched by the Bali administration and the public’s friendly attitude toward Chinese residents in light of the coronavirus outbreak. He also appreciated the Indonesian government’s efforts to protect the country. “We hope for everyone’s support if the Chinese government picks up the Chinese tourists to return to the country,” Haodong said. (dpk)Topics :last_img read more

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Gavin Isaacs: Helping SBTech to navigate key regulated markets

first_img Wiraya and A GAME ABOVE: Partnering to produce full lifecycle potential July 1, 2020 Kambi takes control of Churchill Downs BetAmerica sportsbook August 28, 2020 StumbleUpon Submit Having joined SBTech just three weeks ago, Gavin Isaacs has already set about using his 20 years of high-level gaming experience to bolster the company’s US presence.We spoke to Isaacs about how his experience with Scientific Games, Bally and SHFL Entertainment can be translated into success for his new employers, what convinced him to join the SBTech project, and where he sees the biggest growth opportunity for the company.SBC: We understand you were approached by several companies after leaving Scientific Games. What convinced you to join the SBTech project?GI: I had run several large land-based gaming companies and asked myself whether I wanted to do it again. After a great deal of thought, I felt that I needed to look to the future and assess where I could make an impact within an area where I believe the industry is heading, and that is online with sports initially being the main driver.I went to ICE last year and saw everything that was on offer, but I was really impressed with SBTech’s technology, it’s people and senior management team, its approach and fast moving, aggressive expansion plans. I then met with the founder and we shared a common view of the future, of the industry and the business, and it was a very easy decision to make.The industry landscape today is changing faster than ever, and the future is very much online. You shouldn’t underestimate the big suppliers on the land-based side as they’re going to play a significant role in shaping how things evolve, but there are some great companies out there such as SBTech that have already made huge progress in all the key regulated markets, and that are going to continue to make huge inroads across new and emerging jurisdictions such as the US; an area where I have significant expertise from my time with Scientific Games, Bally and SHFL Entertainment and where I feel I can really add value.SBC: What can you bring with you from your time with Bally and Scientific Games to enhance what is already a hugely successful global business?GI: This is a non-executive role, but I don’t intend to sit back. The first thing I’ve done is to travel to all the SBTech offices in Bulgaria, Tel Aviv, Kiev and finishing in London to meet with various executives and teams to understand the products more so I can then sit down with the rest of the management team to help shape the business’s strategy.I’ll be using my previous experience to help the company navigate regulated markets, in particular the US, regulated US states and those states that are considering opening in the coming months and years. My extensive global contacts are going to be a significant advantage, while I’ll also help to mentor teams and make sure we’re doing the right thing and approach things in the right way.SBC: What do you hope SBTech can achieve in the US this year? And where do you see the biggest growth opportunity for the company?GI: The company entered the US very early on, as soon as the Paspa legislation was repealed. It has signed several significant strategic partnerships with brands in New Jersey and Mississippi and it has several others in the pipeline ready to announce.The potential is huge, and SBTech is investing significantly in its technology and infrastructure on the ground to enable it to maximise this long-term opportunity. Being based in Las Vegas and having worked here for several years across many of the industry’s largest suppliers I will be able to use my knowledge of the US market to support and grow the company’s US expansion.There are lots of ways to expand the business and we haven’t sat down to discuss this yet. These are kinds of things we’ll talk about and we will explore all the possibilities. I’ve run different size companies in America and from my experience we need to put in place the right infrastructure and support systems and personnel, ensure we have the right licences which is key in the States, and we must be very committed which SBTech is and has been from the get-go. We must also pick the targets and make the right strategic moves.SBC: How do you set about shaping the sportsbook platform to enable SBTech’s partners to rival the early sports betting pace setters in New Jersey?GI: These are early days for me so I can’t comment on specifics but the offerings I’ve seen living and working in Vegas have not been up to scratch. There is still a long way to go. You must bring the market with you and we need to recognise that it won’t change overnight. It’s been a very good start, with impressive initial figures coming from New Jersey that has gone the whole hog and regulated internet gaming which I think is the right decision.It won’t be long before other states open and, once we see that, there will be a wave. SBTech is perfectly positioned to take advantage of stateside expansion with its proven track record of success across more than 20 regulated territories and a highly flexible product offering that can be tailored and localised to any market.SBTech will be exhibiting at Betting on Sports America from 23-25 April in New Jersey / New York. Betting on Sports America is the largest sports betting conference & exhibition, present ing175 leading industry speakers across 40 sessions and three conference rooms. The 61,000 sq ft large exhibition will bring delegates 60 exhibitors, world class hospitality and the very best networking and business opportunities. 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