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Freelance Journalist
I am a New York-based freelance journalist interested in energy markets. I write about energy policy, trading markets, and energy management topics. You can see more of my writing at Rakesh Sharma
- Apr 30, 2021 4:20 pm GMTApr 30, 2021 1:43 pm GMT
- 78 views
OPAL, NextEra Energy unit to build renewable gas facility in Minnesota
Privately held OPAL Fuels LLC and a unit of NextEra Energy (NEE.N)are planning the first landfill renewable natural gas (RNG) production facility in Minnesota, the companies said Wednesday, as U.S. consumers and governments demand more clean energy.
More renewable natural gas credits for NextEra. RINs are renewable natural gas credits and the market for such credits is booming currently. I spoke to a NextEra Energy Marketing (the division working with Opal) customer - a municipal aggregator - recently. He told me that NextEra was responsible for procuring and retiring credits for them. I guess it is not difficult to understand the business model here. As I mentioned in a piece recently, the company generates more than 98% of its revenues from utilities where natural gas (not the renewable kind) is the primary source of fuel while promoting itself as a renewable energy company.
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