Fedex Begins A Solar Power Installation At New Jersey Facility; EU Changes Biofuels Target Limit; Penn West Sells $1.3B In Assets - Energy Minute for October 24, 2012



FedEx has broken ground for a large solar installation at its Newark, New Jersey facility. The project will cover 3.5 acres, and will supply 15 percent of the facility’s power needs at a lower cost than the energy currently provided from the grid.

The European Union has announced a radical shift in its biofuels policy. The organization now proposes to limit the amount of transport fuels from food crops that would count toward a 2020 renewable energy target to no more than 5 percent of the total energy used in the transport sector in 2020. That represents the current amount of food crop-based biofuels used in EU transport fuels. The Commission originally proposed a target of 10 percent.

Penn West, one of Canada’s largest oil and gas producers, has lined up buyers for $1.3 billion worth of Canadian oil and gas assets. The Calgary-based company will use the proceeds to cut debt.

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KEYWORDS: FedEx, European Union, Penn West Petroleum, The Energy Minute, Solar, biofuels, Energy, Canada, 3bl Media, Energy Minute

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