Daily Archives: September 20, 2021

Anbaric Development Partners submitted a portfolio proposal of 19 projects it said will define a new era for the offshore wind industry to theNew Jersey Board of Public UtilitiesandPJM Interconnectionon Friday.

The proposal is in response to New Jerseys solicitation for offshore wind transmission to assist the states growing clean energy sector.

Anbarics portfolio of projects included planned transmission systems, open equally to all offshore wind generators maximizing the use of scarce connection points on the grid and minimizing impacts on the environment and coastal communities, while stimulating competition in the industry and boosting the efficiency of the grid.

Anbaric is a majority employee-owned, U.S.-based company focused on designing and developing transmission projects on the bulk power grid and scaling renewable energy.

Anbaric officials said the portfolio of projects includes a range of project scopes and capabilities, including large-scale, networked transmission systems that can integrate thousands of megawatts of offshore wind and power several million homes with clean energy.These proposed transmission systems will accelerate the growth of the industry and create significant clean energy jobs.

Among its bids, Anbaric has included the Boardwalk Powerlink Project, which delivers up to 2,800 MW of offshore wind to the Deans substation in South Brunswick. Anbaric has been developing this project for almost eight years and the project is largely designed and permitted, providing a shovel-ready project option.

Janice Fuller, president, mid-Atlantic, for Anbaric, said the company is eager to showcase the critical role transmission will play in the states clean energy future.

This solicitation embodies Gov. (Phil) Murphys nation-leading commitment to scale the offshore wind industry while also achieving aggressive clean energy goals set forth by the administration and boosting investment in the state, she said.

Anbarics suite of proposals present the lowest-cost, most efficient way to proceed with offshore wind transmission: an open-access, planned system modeled after successful systems already in operation in Europe that we have been advocating for here in New Jersey. If transmission infrastructure can reduce costs and fortify the grid in Great Britain, the Netherlands and Germany, it can do that here.

Ontario Teachers Pension Plan board is the administrator of Canadas largest single-profession pension plan, with C$227.7 billion in net assets as of June 30. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plans founding in 1990. Ontario Teachers is an independent organization headquartered in Toronto.

Anbaric, based in Massachusetts, is partnering with Ferreira Construction, a Whitehouse-based utility and civil contractor. The Ontario Teachers Pension Plan is the proposals main investor.

The portfolio of projects that Anbaric is proposing utilize 400kV high voltage direct current transmission.This technology allows for a single cable bundle to be used to transmit the power that would otherwise require four AC cables and lead to greater costs, routing, environmental and permitting challenges.

Fuller said this system also allows more power to be transmitted at longer distances with far fewer losses and adds to power grid reliability by providing power flow control and significant reactive power that can help wind replace the grid services that traditional fossil power plants provided in the past. Sea platform locations allow for ready use by bidding offshore wind generators in future New Jersey offshore wind procurements, while increasing competition in such solicitations between generators who no longer are limited in their bid by their distance from shore.

These projects also provide a transmission-first approach that gets transmission often the bottleneck element of new project development moving ahead of generation to ensure that renewable energy additions are not delayed.

Fuller said Anbaric examined hundreds of potential transmission scenarios and identified projects that efficiently deliver power to shore, protect the environment, coastal communities and the ratepayer, and can be developed in stages to accompany the growth of the offshore industry. The portfolio of projects allows PJM and the BPU to customize offshore infrastructure to the next stages of offshore wind procurements.

Ferreira Constructionis a first-rate company that has experience and expertise in all facets of transportation infrastructure, utility/power, marineconstruction and construction management.

Working with local communities and interests has been a hallmark of Anbarics past development work in the region. Anbaric remains committed to robust engagement throughout the development process with all interested parties, including but not limited to the fishing community, local residents and elected officials, labor and business partners, environmental advocates and the environmental justice community. Also included in Anbarics bid package is a commitment of approximately $5 million in community grants for STEM programs.

Ferreira is one of the states best-known, respected and reliable construction companies, having performed work on the Garden State Parkway, Route 206, Bayonne Bridge, Pulaski Skyway and Newark Liberty International Airport in addition to work on electrical infrastructure projects for utilities throughout the nation.

Led by founder Nelson Ferreira, the company has over $500 million in annual sales and over 1,000 employees.

Ferreira is committed to making New Jerseys clean energy goals a reality, Ferreira said. This submission offers one of the states best opportunities to make that happen. Its forward-thinking, environmentally conscious and works on a scale we have not seen before. We are honored to be a partner in this endeavor and look forward to getting to work, should this submission be chosen.

Link:

Anbaric says its offshore wind transmission projects will define new era for industry - ROI-NJ.com

A former coal power station site in New Jersey could help integrate the output of offshore wind generators into the electric grid under plans unveiled by a subsidiary of power producer LS Power.

Rise Light & Power, a New York-headquartered energy asset manager and developer wholly-owned by LS Power said last week that it wants to develop a project called the Outerbridge Renewable Connector, where EH Werner Power Station in South Amboy, New Jersey, used to stand from 1930 until its decommissioning and demolition six years ago.

Rise has just acquired the 26 acre site and wants to turn it into a renewable energy hub, which could be a central interconnection point for wind farms. New Jersey is targeting 50% clean energy by 2030 and the deployment of 7.5GW of offshore wind by 2035 on the way to 100% clean energy by 2050.

Wind-generated power would pass through upgraded grid infrastructure into a substation through buried cables, which could be put in underground on a railroad right of way. The site could be perfect for the hub as it offers access to the Atlantic Ocean as well as existing infrastructure and no public beaches, residential communities or wildlife areas would be impacted, the developer said.

Rise Power & Light said the plan submitted to New JerseyBoard of Public Utilities (BPU) and PJM Interconnection also includes a large-scale battery energy storage system (BESS), providing services to the PJM Interconnection grid service area. The company did not give details of the sizing and capacity of the BESS or the specific applications it could serve in a press release last week. Energy-Storage.news has reached out to LS Power for information on those.

The project could create more than US$1 billion economic value to the state of New Jersey including nearly US$88 million in state and local government taxes. Rise Power & Light is also the owner and operator of the largest power generation facility in its home state of New York, the 2,480MW dual fuel Ravenswood Generating Station on Long Island.

The company has also received approvals to put a 316MW BESS on that site and is also planning a 1,200MW underground transmission line project to take renewable energy generated in the Catskills mountain area in Upstate New York into New York City.

New York is committing over US$340 million towards upgrading transmission networks as well as pursuing its own 100% clean energy by 2040 goals. Energy-Storage.news recently reported on the role battery storage would play in another project planned in the region to take renewables from Upstate New York to urban demand centres.

The Excelsior Connect project by power network and renewables developer Avangrid would include a 150MW / 600MWh BESS, which would be co-developed by energy storage company Key Capture Energy to help maximise the amount of wind or solar that the 108 miles of underground transmission lines could carry.

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LS Power repurposing former New Jersey coal plant site into offshore wind integration hub - Energy Storage News

UPDATE, writethru: Warner Bros/Legendarys Dune has surpassed expectations, harvesting $36.8M at the international box office from just 24 markets in early release. The Denis Villeneuve-directed sci-fi epic was the top movie overseas this weekend, coming in with No. 1s in virtually all openings. In likefor-likes and at todays rates, Dune is tracking 4% ahead of Tenet, 33% ahead of Black Widow, 52% ahead of Blade Runner 2049, 58% above Shang-Chi And The Legend Of The Ten Rings and 80% ahead of Godzilla Vs Kong.

IMAX delivered a fantastic $3.6M from 142 screens representing roughly 10% of the total weekend and a $25K per-screen average. The Timothe Chalamet-starrer demolished pandemic-era box office records for the network in 10 markets including Russia, France, Belgium, Denmark, Germany, Norway, Sweden and Ukraine, as well as Hong Kong and Singapore. The film features over an hour of expanded aspect ratio exclusive to IMAX screens.

Social and critical scores are great in Europe and Dune is now 90% Fresh on Rotten Tomatoes. Most reviews encourage moviegoers to see the movie on the big screen as it was intended. At the Venice Film Festival, Villeneuve said Dune has been dreamed, designed, and shot thinking about IMAX. When you watch this movie on the big screen, its almost a physical experience.

Overall, this is a great result for the adaptation of Frank Herberts world-building 1965 classic novel and this is only the beginning. Industry projections had Dune seeing a $20M+ launch.

Why were projections only in the mid-$20Ms? Pandemic concerns aside, it wasnt clear if this would be a rush-out for fans of the book, or even the the byzantine 1984 fiasco made by David Lynch. However, weekend growth demonstrates the film is playing broadly.

In France ($7.5M), for example, the Friday to Saturday jump was 108% in terms of admissions. We hear that there were 30%-50% increases across most markets. Germany ($4.9M) was the sole hub this weekend that did not overperform, though it dominated 57% of the Top 5 titles and is tracking well above comps.

In Russia ($7.6M), Dune is duking it out with It: Chapter Two to become the biggest September opening ever in the market which, for the most part, has 50% capacity restrictions.

DuneWarner BrosFrance scored the second highest opening of 2021 only behind F9 and the biggest WB opening since the beginning of the pandemic. Italy ($2.6M), boosted by the attention from the Lido world premiere, captured a 62% share of the Top 5 films and is the best opening weekend since March of 2020 for an international title. Spain ($2.2M) took 66% of the Top 5 and is besting all comps. The Scandinavian markets were all at or over $1M.

So where does the House of Atreides go from here? Warners set out a savvy international strategy to hit Europe first after Venice, Dune moved to Paris for a special event screening at the Grand Rex cinema and a showing at the Deauville American Film Festival. This is a key region for the movie and gets it out in front of James Bond (which starts rollout on September 29) and picking up in the Middle East next weekend where there are a lot of premium screens. Then, 007 comes along and Dune will bide its time for two weeks until hitting the UK, Korea and others the weekend of October 20. Domestic opens October 22, day-and-date with HBO Max and also day-and-date with China. For now, piracy is less of a concern because those pristine copies only hit the market when a film is on a legitimate streaming platform. Australia, given the state of cinema closures there, is currently dated December 2.

DisneyMeanwhile, Disney/Marvels Shang-Chi And The Legend Of The Ten Rings led global play with $42M in the third session. Of that, $20.3M comes from 43 material offshore markets. The total international cume is now $143.7M for $320.6M global ($24.5M IMAX). The worldwide figure makes Shang-Chi the No. 4 biggest Hollywood title of 2021. It held No. 1s in Australia, Brazil, Mexico and the UK among others this frame. The total overseas drop was 44%.

The UK leads all play on Shang-Chi with $21.8M, followed by Korea ($12.6M), France ($9.2M), Russia ($7.6M) and Japan ($7M). There is still no word of a China date given the recent confirmation that both Dune and James Bond pic No Time To Die are releasing there in late October, it remains dubious if Shang-Chi will be approved.

Free GuyDisneyAlso from Disney, 20th Century Studios Free Guy continues to enjoy a strong run in China having grossed $85.6M after 24 days it is the third highest-grossing Hollywood movie in the market since cinemas reopened. It lagged some local titles in the market this session with Cloudy Mountain taking the lead at about $19M ($800K from IMAX). The full offshore weekend on Free Guy was $8.4M for a $189.7M intnernational cume. Globally, the Ryan Reynolds-starrer is about to cross $300M, currently sitting at $298.3M. Of that, $21M is from IMAX.

Setting a new milestone, Paramounts Paw Patrol: The Movie crossed $100M worldwide with $103.2M to date. It dropped just 35% internationally as it continues to scamper along nicely overseas. The weekend was good for$5.6Macross55 markets bringing the offshore cume to $66.1M.New openings included Australiaat No. 3 with$709Kat 148 locations. The UK has cumed $10.4M to date, with France at $9.8M and Germany at $9.4M. Italy releases next week.

Overall, next weekend sees no major new studio offerings while Dune continues international play ahead of the No Time To Die release the following week.

In terms of Covids impact on offshore play, 60% of Australia is still closed; 93% of Japan is affected by full or semi states of emergency, meaning restricted hours and capacities; Korea is still at Level 4 and South East Asia is still largely closed, although Malaysia and part of Indonesia have reopened.

MISC UPDATED CUMES/NOTABLECry MachoWarner Bros PicturesMalignant (WB): $3.1M intl weekend (70 markets); $14.8M intl cume/$24.6M globalEscape Room: Tournament Of Champions (SNY): $1.5M intl weekend (37 markets); $24.1M intl cume/$49.3M globalThe Boss Baby: Family Business (UNI): $1.42M intl weekend (41 markets); $52.7M intl cume/$110M globalF9 (UNI): $958K intl weekend (67 markets); $543.5M intl cume/$716.5M globalCandyman (UNI): $621K intl weekend (37 markets); $12M intl cume/$65.2M global*Cry Macho (WB): $350K intl weekend (18 markets); $350K intl cume/$4.8M globalOld (UNI): $277K intl weekend (60 markets); $41.4M intl cume/$89.4M global*Denotes new

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Dune Reaps A Heap With $37M From Early Offshore Debut; Shang-Chi Tops $320M WW International Box Office - Deadline

Tiffany Acosta| New Mexico State University

LAS CRUCES - DoeunChoebelieves the goal of her research should always result in helping society. And the civil engineering assistant professor in New Mexico State Universitys College of Engineering has received a 14-month, $121,331 grant from the National Science Foundation to research challenges facing floating offshore wind turbine technology.

Floating offshore wind turbines have been regarded as one of the most promising alternatives to access energy resources with vast available space and fewer restrictions and regulations.

I started working on the floating offshore wind turbine because I believe this will give my kids and future generations fresh air and sustainable energy resources to live, Choe said. And I further believe that securing sustainable energy is a critical component to offer the quality life for every current and future generation, as we all know that the current fossil fuel is limited and will end at some point.

More from NMSU: NMSU, DACC partnership continues technology career mentoring program

Choes project will identify the uncertainties involved in floating offshore wind turbine structures including those within the ocean environmental loading, hydrodynamics, and the structural and material properties, which threaten the reliability and the feasibility of floating offshore wind turbines. According to National Renewable Energy Laboratory, floating offshore wind turbines can collect an estimated four times the wind energy than onshore wind turbines. But the technology of floating offshore wind turbines requires significant research efforts to be economically viable.

I intend to help people to harvest more green energy resources with my engineering expertise through this research, hoping this energy eventually helps people to sustain a quality life, Choe said.

We are very pleased with Dr. Choes early success as a new faculty member at NMSU and are looking forward to her future contributions, said College of Engineering Dean Lakshmi N. Reddi. Renewable energy is a big focus of research programs in several of our departments and this is a very novel and exciting project to expand this focus. Its very heartening to have ongoing research that will benefit future generations.

Additionally, undergraduate, community college and high school students can assist on this project. Choe, who joined the NMSU faculty in January 2021, said she believes high school and undergraduate students can contribute to the literature reviews and simple steps of the wind turbine modeling and help with the research project presentation.

While the research project is focusing on complicated mathematical modeling of its uncertainty, that is not all, Choe said. They also can participate in the outreach activities, letting the community understand the importance of green and sustainable energy.

More from NMSU: NMSU graduate helped produce Emmy award-winning documentary 'Secrets of the Whales'

This project is a small part of supporting physical sustainability of our society, Choe said. However, we need more understanding and help in all aspects of the sustainability including the fields of social, human and engineering to support the sustainability of our future needs.

Eye on Research is provided by New Mexico State University. This weeks feature was written by Tiffany Acosta of Marketing and Communications. She can be reached attfrank@nmsu.edu.

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NMSU professor awarded grant to study the uncertainties in floating offshore wind turbines - Las Cruces Sun-News

Danish wind turbine manufacturer Vestas plans to cease production at its factories in Viveiro, Spain, and Esbjerg, Denmark, as well as the onshore wind factory in Lauchhammer, Germany.

Vestas said that the move is part of the companys integration of its onshore and offshore business started after Vestas acquired a 100 per cent stake in MHI Vestas from Mitsubishi Heavy Industries.

The factory in Esbjerg employs approximately 75 people who manufacture power conversion modules for the V164 and V174 offshore turbines.

As demand for these modules will gradually shift to markets primarily outside of Europe and be delivered via more localised manufacturing facilities, Vestas expects to conclude the production of power conversion modules in Esbjerg during the first half of 2022.

The company will explore opportunities to relocate employees currently working at the factory in Esbjerg to other Vestas sites in Denmark.

The Viveiro factory employs approximately 115 people who manufacture generators for the 2 MW onshore platform as well as control panels for the V164 offshore turbine for markets outside of Spain.

Due to both the decrease in demand for the 2 MW platform and the need to optimise offshore manufacturing, it is no longer sustainable to continue activities in Viveiro, Vestas said.

Based on current plans, Vestas expects to finalise production in Viveiro end of 2021 and will offer opportunities to relocate employees currently working in Viveiro to other Vestas sites in Spain.

Todays fast-moving energy transition, rapid introduction of new products and recent integration of our onshore and offshore business require us to further mature and evolve our supply chain network and manufacturing footprint, said Executive Vice President and COO Tommy Rahbek Nielsen.

While Vestas will sustain a strong footprint in Europe across manufacturing and service activities, its always hard to make decisions that negatively affect our good, hardworking colleagues at Vestas. I would like to emphasise that we are deeply committed to explore opportunities to relocate our colleagues, who unfortunately will be impacted by the cease of production at our factories in Lauchhammer, Viveiro and Esbjerg.

Where required by local law, Vestas will now initiate legal proceedings and negotiations with workers representatives and the local work councils for all affected employees. The total cost of this adjustment of Vestas manufacturing onshore and offshore footprint will depend on specifics related to the outcome of negotiations with work councils, sale of buildings, etc. As indicated in Vestas guidance for 2021, the total cost will be booked as special items related to the integration of the offshore business and will be recognised in the third quarter of 2021.

The rest is here:

Vestas to Close Offshore Wind Factories in Denmark and Spain - Offshore WIND

Air Quality (as of 12:00AM)GOOD for all reporting stations

WEATHER STORYFlow turns offshore in the wake of Sundays cold front. This will likely lead to warmer, sunnier, and dry conditions as we head into the work week. Fire danger increases, especially to our north where offshore winds will be stronger through the morning hours. Eventually, low level flow switched back onshore by mid-week, cooling off coastal areas. There is uncertainty late in the week as a cut-off area of low pressure tries to sneak into southern California. Its eventual position could mean a lot of different things for our area.***RED FLAG WARNING*** for the DIABLO RANGE in Santa Clara County through 8 pm Monday

Dry northerly offshore winds will push into the Napa hills around 11 pm Sunday night and then gradually spread over the North and East Bay hills. The initial burst of winds will occur while humidity values remain fairly moist. However the dry offshore winds will begin a rapid drying of the atmosphere with humidity values dropping quickly by Monday morning. Continued moderate offshore winds on Monday as humidity values drop into the teens. Offshore winds will ease by sunset Monday night. Little or no humidity recovery Monday night into Tuesday morning but with only light offshore winds.

Initial burst of gusty offshore winds overnight to mid-morning Monday. Drier conditions but lighter winds Monday daytime. Offshore winds ease Monday night with continued poor humidity recovery.

-Winds northeast 10 to 20 mph with gusts up to 40 mph. Local gusts up to 50 mph over the highest peaks.

- Humidity initially 30-45% tonight drying to 15-30% on Monday with little or no recovery Monday night.

Any fire starts would likely see rapid spread due to dry fuels, low humidity and gusty winds in areas that did not receive wetting rains over the last 24 hours.A Red Flag Warning means that critical fire weather conditions are either occurring now or will shortly. A combination of strong winds, low relative humidity, and warm temperatures cancontribute to extreme fire behavior.

Overnight: A few low clouds/patchy fog possible near the coast. Otherwise clear with lows in the 40s-50s. Dry northerly winds pick up in the northern mountains overnight.Monday: Sunny and warm with highs in the 70s-80s on the coast and 80s to low 90s inland. A light sea breeze will kick in in the afternoon.

Tuesday: Another sunny and warm(er) day with the possibility of some coastal fog late. Expect highs in the 70s-80s on the coast and 80s-90s inland.

Extended:Temps will begin to cool on Wednesday and will likely stay seasonable through the end of the week. There is forecast uncertainty once Saturday rolls around. Stay tuned.

-------------------------------------------------------------------------This week's normal temperatures:--COASTAL CITIES--LOW: 54FHIGH: 72F--INLAND CITIES--LOW: 51FHIGH: 85F

-----------------------------------------------------------------------------The outlook from the Climate Prediction Center for September 27th October 3rd calls for the likelihood of ABOVE normal temperatures and near normalprecipitation.-ElNio/LaNiaSTATUS: Neutral-Forecast into Winter: La Nia Watch

-Area drought status:Extreme Drought for the entire viewing area with the far southeastern corner of Monterey County and far eastern San Benito County considered Exceptional Drought

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Offshore Wind Threat KION546 - KION

Offshore wind holds great promise as a source of clean, domestic, renewable energy that can meet the needs of communities along the nations coastlines. And according to the Offshore Wind Market Report: 2021 Edition, written by a team of researchers at the U.S. Department of Energy (DOE) and its National Renewable Energy Laboratory (NREL) the U.S. offshore wind industry made gale-force gains in 2020 and early 2021. The offshore wind pipeline grew 24% in that time period, with 35,324 megawatts (MW) now in various stages of development.

And that is not all. Increased industry interest, combined with theBiden administrations goal to deploy 30 gigawatts (GW) of offshore wind power by 2030, may propel the offshore wind energy industry to greater heights in the coming years.

Released on Aug. 30, 2021,the report highlighted that:

This report shows that the offshore wind market is on an upward curve, both nationally and globally, said Walt Musial, an NREL principal engineer and the lead report author. Maturing technology and falling costs have driven that curve for several years, and today, were seeing a continuation of those trends. Here, in the United States, federal and state support are also adding momentum.

NREL and DOE began working in offshore wind energy research in 2003 to address the growing interest in offshore wind power technology and innovation, both domestically and in Europe. Since then,NRELs work in offshore wind energyhas included:

Looking to the future, we expect offshore wind energy in the United States to expand beyond the North and Mid-Atlantic into the Pacific, Great Lakes, and the Gulf of Mexico, Musial said. That expansion means abundant energy at lower costs, job growth, and progress toward decarbonization. NREL will continue to leverage its expertise, world-class facilities, and industry, research, and commercial partnerships to help the United States lead the charge forward.

TheOffshore Wind Market Report: 2021 Editionprovides detailed information about the U.S. and global offshore wind energy industries to inform policymakers, researchers, and analysts about technology and market trends. The report covers the status of more than 200 globally operating offshore wind projects through Dec. 31, 2020, and provides details and analysis on a broader global pipeline of projects in various stages of development. To deliver the most up-to-date discussion about this evolving industry, the report also provides a deeper assessment of domestic offshore wind energy developments and events through May 31, 2021.

The report is a companion to theLand-Based Wind Market Report: 2021 Edition, prepared by DOEs Lawrence Berkeley National Laboratory, and theDistributed Wind Market Report: 2021 Edition, prepared by DOEs Pacific Northwest National Laboratory. These three reportsoffer unbiased, independent, public reporting of the current state of the wind energy industry and provide insight into multiyear trends.

Offshore Wind Market Report: 2021 Edition: Full Report

Offshore Wind Market Report: 2021 Edition: Executive Summary

Offshore Wind Market Report: 2021 Edition: Summary Slides

Offshore Wind Market Report: 2021 Edition Data

Article courtesy of NREL.

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U.S. Offshore Wind Industry Has Electrifying Future - CleanTechnica

The tropics are still busy, but really there arent any official systems as I write this. It actually makes me wonder if talking about tropical disturbances (non-organized clusters of thunderstorms in a lower pressure area) is helping to numb people to taking in other important tropical information. Hmmm. Having said that Nicholas has fallen apart. It is no longer a tropical system, but rain showers are continuing to fall across the deep south. There are 2 tropical disturbances in the eastern Atlantic that could form over the next few days. (One is likely to do that).

Then there is the tropical disturbance that is a couple hundred miles to our southeast. This is the feature that we will be watching closely over the next 24-36 hours. It is likely to stay offshore, but it will probably throw a few showers back our way during that time. It is also going to elevate our risk for rip currents. As I write this the disturbance is still basically just a disorganized cluster of thunderstorms.

The weak low will move northward today. It will throw a few showers up our way. Weve already had a few over the Outer Banks. There is also a cool front falling apart just to our west.

There will be a few showers and storms in the western sections of the viewing area this afternoon closer to the front. There will also be scattered rain showers along the Outer Banks closer to the low. In Hampton Roads (between these features) well have a handful of rain showers.

The forecast track models all keep the center of the low offshore.

The Euro does have it to our east/northeast tomorrow. It does have some rain coming in from the ocean, but the stronger winds are definitely offshore.

Our Future Trak model is leaner with the rain tomorrow, but it does have a few showers.

For now Im calling for mostly cloudy skies Friday with some scattered showers and isolated tstorms. Also, the wind will be out of the north at 10-15mph. That will be a cool breeze. So Im going with high temps in the upper 70s to near 80. The low will move away from our region during the day Friday. Then well have nice weather next weekend. Highs will be in the 80s with less humidity.

There are 2 tropical disturbances in the eastern Atlantic. One still has a high chance of formation over the next few days as it moves to the west/northwest. The other one (more easterly disturbance) has a low chance in the next couple of days.

Meteorologist: Jeremy Wheeler

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Blog: Nicholas Falls Apart. Tracking The Offshore Low. - WAVY.com

Evergrande Plaza in Chengdu, China. This photo was taken in April 14th, 2017

Asian equities were largely higher as Hong Kong outperformed led by internet stocks. Investors appeared to be in good spirits in advance of the long weekend as Mainland China, Japan, and Taiwan will be closed Monday. However, there was precious little to speak of from a news perspective.Meanwhile, regional volumes were driven higher by the FTSE Russell rebalance and Quad Witching (the expiration of options contracts).

The PBOCs injection of $14 billion worth of liquidity into the financial system helped soothe investor concerns about Evergrande. However, the move was likely driven by the need for cash before the long weekend.

A Peoples Daily editorial claimed that Evergrande is not too big to fail. However, we now know that it is. A few years ago, insolvent companies including HNA Group, Anbang Insurance, and Fosun were going to implode China, according to the media narrative. But, the companies were broken up, their debt was distributed, and life went on. China will not let the first domino, which could be Evergrande, fall. CNH, the version of Chinas currency that trades during US market hours, shows little worry. CNHs volatility is very low, indicating that the market is not concerned.

There were several interesting sector moves overnight. Healthcare absolutely ripped, driven by BeiGenes positive drug recommendation from the EU. Meanwhile, lithium stocks were hit again, bringing down miners and other metal plays. The lithium space, along with coal and steel, has outperformed recently so some profit-taking is not that surprising. Positive remarks from the National Development and Reform Commission on clean energy and the Ministry of Transportation on electric vehicle (EV) usage increasing, both of which helped the broader cleantech space including EV, wind, and solar names. Energy names took it on the chin as crude prices eased a touch overnight.

Both Northbound and Southbound Stock Connect were closed today in advance of Chinas market holidays on Monday and Tuesday. Tencent bought back another 230,000 shares overnight.

Country performance

MSCI China All Shares Index

Stock performance

The Hang Seng opened lower but snapped back, rising across the trading day to close +1.03% on volume that was +51% higher than yesterday. The 210 Chinese companies listed in Hong Kong and within the MSCI China All Shares Index gained +1.87% led by healthcare +5.28%, discretionary +2.86%, staples+2.74%, communication +2.39%, tech +2.17%, real estate +1.89%, and utilities +1.7%. Meanwhile, energy -1.72, financials -1.2% and materials -1.2%. Hong Kongs most heavily traded stocks by value were Tencent, which gained +2.39%, Kuaishou Technology, which gained +6.22%, BeiGene, which ripped +20.29%, Ping An Insurance, which fell -5.05%, Meituan, which gained +3.53%, Alibaba HK, which gained +2.24%, Baidu, which gained +2.38%, AIA, which was flat, JD Health, which gained +9.52%, and BYD, which gained +3.37%.

Shanghai, Shenzhen, and the STAR Board bounced around the room opening higher then falling into the red before rebounding to close +0.19%, +0.35%, and -0.13%, respectively, on volumes that were -9.85% lower than yesterday, which is 140% of the 1-year average. The 541 Mainland stocks within the MSCI China All Shares Index gained +0.66% led by healthcare +4.37%, utilities +3.93%, staples +2.3%, and real estate +1.18%. Meanwhile, energy -4.69% and materials -1.88%. The Mainlands most heavily traded stocks by value were Tianqi Lithium, which fell -5.12%, China Northern Rare Earth, which fell -6.32%, China Three Gorges Renewables, which gained +9.97%, Kweichow Moutai, which gained +2.93%, Gangfeng Lithium, which fell -2.8%, Inner Mongolia BaoTou Steel, which fell -6.63%, Yunnan Yuntianhua, which fell -4.02%,Jiangxi Special Electric Motor, which gained +2.51%, and Longi Green Energy, which fell -1.00%.

Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. Our suite of China focused ETFs provide investors with solutions to capture Chinas importance as an essential element of a well-designed investment portfolio. We strive to provide innovative, first to market strategies that have been developed based on our strong partnerships and our deep knowledge of investing. We help investors stay up to date on global market trends and aim to provide meaningful diversification. Krane Funds Advisors, LLC is majority owned by China International Capital Corporation (CICC).

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Offshore RMB Does Not React To Evergrande Wind-Down, Week In Review - Forbes

Vineyard Wind's lease area south of Martha's Vineyard (in blue) (BOEM/Vineyard Wind)

PublishedSep 18, 2021 2:56 AM by The Maritime Executive

Vineyard Wind, the developer of America's first full-scale offshore wind farm, has submitted two new proposals for projects off the coast of Massachusetts. The news follows just one day after the firm secured financing for Vineyard Wind 1, a long-anticipated development off Martha's Vineyard.

The two new Commonwealth Wind proposals off the state of Massachusetts two options, with capacity of 800 MW and 1,200 MW each. Both proposals would be developed just to the south of the 800 MW Vineyard Wind 1 project, expanding on the company's already-permitted installation.

Just one day after announcing that Vineyard Wind has brought the nations first large-scale offshore wind farm to financial close, we are incredibly proud to submit our Commonwealth Wind proposals, said Lars T. Pedersen, CEO of Vineyard Wind. We have deliberately named our proposals Commonwealth Wind to underline the broad benefit of affordable energy to the entire Commonwealth as well as the significant economic benefits that will be delivered to multiple regions of Massachusetts.

If built, Commonwealth Wind will use the same one-by-one nautical mile spacing between turbines as Vineyard Wind, a standard pattern that has been endorsed by other offshore wind industry players and by the United States Coast Guard.

Between Vineyard Wind 1 and an adjacent project that is still in permitting (Park City Wind), Vineyard Wind has about 1600 MW of capacity in its development pipeline. Park City Wind started its federal review process in 2021 and is currently undergoing various permitting processes at the local, state and federal levels.

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Vineyard Wind Bids for New Project Near First US Offshore Wind Farm - The Maritime Executive