Westar gets Kansas OK to sell green energy direct to businesses

first_imgWestar gets Kansas OK to sell green energy direct to businesses FacebookTwitterLinkedInEmailPrint分享The Topeka Capital-Journal:Westar Energy launched a new program this week that its leader called “a powerful economic development tool” that will allow businesses access to wind energy.On Tuesday, the Kansas Corporation Commission gave its stamp of approval to the Direct Renewable Participation Service. That opened the way for Westar to announce Wednesday that it had reached a 20-year agreement with an affiliate of NextEra Energy Resources LLC to purchase energy from a new 300 megawatt wind farm that is being developed in Nemaha County.“The KCC unlocked a powerful economic development tool. Many large companies want affordable green energy when they choose sites for expansion or new facilities,” said Terry Bassham, president and CEO of Evergy, which operates as Westar Energy and KCP&L. “We are harnessing Kansas wind to attract and grow Kansas businesses. Wind energy boosts our local economies starting with the new wind farm jobs and the lease payments to landowners hosting the wind farm all the way to the communities that grow as businesses choose Kansas.”The program offers businesses a way to meet their sustainability goals by tapping into Kansas wind energy, said Westar spokeswoman Gina Penzig. “There are a lot of large companies that when looking either expanding their facilities or looking at new facilities, they’re really interested in affordable, renewable energy,” she said, adding that having a direct connection to a Kansas wind farm offers a tangible opportunity for those companies.Businesses that participate will be able to claim a portion of the energy generated by the wind farm, to be called the Soldier Creek Wind Energy Center, as their own. The new program is aimed at large commercial customers, she said.“It provides a direct access,” Penzig said. “First of all, the pricing is based on the price agreed to with the wind farm developer. So they’re getting to see some of the great prices available from Kansas renewables today. In addition, they are able to tell their stakeholders that they have a direct piece of Soldier Creek Wind Farm in Kansas. They don’t have an ownership share, but there’s a portion of the wind energy produced at that wind farm that is dedicated to them and is going to their operations.”More: In the wind: Westar launches push to meet business green energy needslast_img read more

BI injects $10.1b to stabilize bond markets as investors dump Indonesian assets

first_imgThe central bank pledged to work together with the government and the Financial Services Authority (OJK) to develop further measures to stabilize the country’s financial market. Perry said the current situation was different compared to the 1998 and 2008 financial crises as the it was faced by financial markets and investors around the globe.Read also: Investors question government’s transparency in handling COVID-19 crisis“Investors and market players dumped all their assets in stocks, bonds and gold and cashed them into dollars. All countries experienced the same thing, including Indonesia,” he added.Indonesia has recorded 308 confirmed cases of COVID-19 and 25 deaths as of Thursday. Globally, the pneumonia-like illness has infected more than 244,000 people and claimed at least 10,000 lives.The central bank slashed its benchmark interest rate, the BI seven-day reverse repo rate, by 25 basis points to 4.50 percent following another cut last month to help spur the weakening economy.BI revised down on Thursday Indonesia’s economic growth projection to between 4.2 percent and 4.6 percent this year, which would be the lowest levels since 2005. That compares with last month’s projection of between 5 and 5.4 percent.It also announced measures to calm the market rout and stabilize the rupiah, including by intensifying bond-buying in the secondary market and cutting banks’ reserve ratio. Topics : Read also: BI cuts rate, sees growth plunging to 15-year low as COVID-19 roils economyBI data recorded Rp 105.1 trillion in capital outflow as of Thursday, of which foreign investors dumped Rp 92.8 trillion worth of government bonds and Rp 8.3 trillion in stocks.The rupiah has weakened more than 15 percent against the this year to Rp 16,172 per dollar as of 3:14 p.m. in Jakarta, a level unseen since the 1998 crisis. The Jakarta Composite Index (JCI), meanwhile, recorded more than Rp 10 trillion in foreign net sell so far this year as it lost around 33 percent of its value.“The majority of capital flight occurred in March in line with escalating COVID-19 infections in developing countries. This has resulted in investors dumping their assets and converting them into dollars,” Perry went on to say.center_img Bank Indonesia (BI) has bought about Rp 163 trillion (US$10.1 billion) worth of government bonds to stabilize the country’s financial market amid foreign investors’ selling spree over COVID-19 fears.In addition to the bonds purchase, the central bank also intervened in the foreign exchange spot market and domestic non-deliverables forward to ease pressures on the rupiah.“We are focused on maintaining confidence, ensuring the market mechanism to work properly and maintain liquidity in US dollars and the rupiah,” BI Governor Perry Warjiyo said after attending a limited Cabinet meeting on Friday.last_img read more