The industry leading event Southeast Renewable Energy Summit was successfully held in Charlotte, NC on November 30th. This event got together key state policymakers, critical decision makers, and leading utility executives and renewable energy players from the most dynamic states — including North Carolina, Virginia, Georgia, Louisiana, Mississippi, Tennessee, and Kentucky — to provide the most definitive updates on the issues and opportunities in the energy industry. As a proud sponsor and a fully integrated crypto mining company, JDK Capital has brought back some unique insights from the off-taker perspective.
The event was an assessment of the current MISO grid energy review and included the following major topics: renewable energy production, load distribution, off-takers for renewable energy projects, and the potential impact of IRA HB951 (inflation reduction act HB951).
Renewable Energy New Development:
Renewable energy is currently in excess in queue, so are the energy demand. IRA’s goal is by 2030, MISO needs to reduce 60% of carbon emission, that means original coal mining farm, Gas farm, needs to transform their current energy load to clean energy or purchase tax credits from the Renewable energy farm (Discussed in detail at a later page). In order for IRA’s goal to be accomplished, each state’s IRP (Integrated Resources Planning) needs to be deployed right away and constructions needs to start. Most State set their goal to be 70% carbon reduction by 2030.
At the current moment, MISO has 120 GW in renewable energy, and 290 GW in queue.
Off-Taker & PPA:
Off-Takers who can offer unique PPA arrangements and provide balancing and smoothing to the grid are more preferred by renewable developers. Due to the surplus of renewable energy in queue, it becomes even more likely for the committee to approve projects with such off-takers already lined up.
Off-takers like JDK Capital and Meta are encouraged to strategically position themselves in the PPA negotiation process with the perspective new developments.
About JDK Capital:
JDK Capital is the world’s leading digital infrastructure asset investor and crypto mining service provider. The company owns several ESG-oriented digital infrastructure resources, such as Unipow. Unipow offers cloud computing power to support the vast development of digital infrastructure. It empowers retail investors to own a piece of the digital infrastructure asset and computing power, providing investors with a comprehensive, transparent, and effective tool to obtain digital assets, and a secure, stable, and cost-effective hash rate. Outstanding ROI has been achieved for the two PoW funds raised in the year 2019 and 2020 respectively.
In addition, JDK is also actively exploring the application of renewable energy and the adaptation of the latest energy technology and is committed to promoting the minimization of the carbon footprint of cryptocurrency mining