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USA plans to invest in the market of advanced green energy technologies

April 14/2021

MOSCOW (MRC) -- U.S. President Joe Bidenís vast plan to modernize the nationís infrastructure includes hundreds of billions of dollars to boost the market for electric vehicles, renewable power and advanced clean energy technologies, while stripping away subsidies for fossil fuels, said Hydrocarbonprocessing.

That makes the USD2 trillion infrastructure blueprint one of the administrationís biggest steps to date in achieving its agenda to decarbonize the U.S. economy by 2050 and restore the nationís leadership in addressing global warming. While much of the package is aimed at traditional infrastructure goals like rebuilding roads and bridges, about a third, or USD628 billion, is linked to climate, according to an estimate by investment firm Raymond James.

The proposals, which must still be debated and approved by Congress before becoming reality, drew cheers from the renewable energy industry and some environmentalists, along with criticism oil and gas drillers. ďPresident Bidenís infrastructure proposal is a significant step in meeting our collective clean energy goals,Ē Solar Energy Industries Association Chief Executive Abigail Ross Hopper said in a statement.

The American Council on Renewable Energy said the plan ďwill move the clean energy sector beyond the endless cycles of temporary stopgap incentives.Ē The American Petroleum Institute, which represents the countryís biggest oil and gas companies, said the plan would ďundermine the nationís economic recovery and jeopardize good-paying jobs."

Among the biggest climate-related provisions, the plan includes USD174 billion in investment to ďwin the EV marketĒ by spurring domestic supply chains and giving consumers rebates to buy electric cars. It also delivers a key win for wind and solar project developers with a proposal to extend the industryís key tax credits by a decade, far longer than the timelines the subsidies have enjoyed in the past. By contrast, it would strip away billions of dollarsí worth of subsidies available to fossil fuels producers, mainly in the form of tax breaks.

As per MRC, Clermont-based company Carbios signed an agreement with Equipolymers which should host, at its site in Schkopau (Germany), a unit that will produce 40,000 tonnes of recycled PET each year. In March, Carbios and Equipolymers, a subsidiary of Equate Petrochemical, signed a ď  non-exclusive and non-binding agreement in the form of a Letter of Intent  Ē. If confirmed, Equipolymers, ď  European leader in PET production  Ē, will host a unit at its Schkopau (Germany) site that will produce 40,000 tonnes of recycled PET each year using the enzymatic process developed by Carbios.

According to MRC's ScanPlast, the estimated PET consumption in Russia in January 2021 increased by 3% compared to the same indicator a year earlier. In total, according to the results of the first month of the year in Russia, the total estimated consumption of PET amounted to 57,420 tonnes.
Author:Anna Larionova
Tags:bioplastics, petroleum products, PET-granulate, biodizel, neftegaz, petrochemistry, PET bottles, PET films, PET preforms.
Category:General News
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