In this week’s translating news, electric carmaker Tesla announced plan to build a “gigafactory” in Nevada, Mexico reopens its energy market for the first time in more than seven decades and the U.S. creates energy-themed coloring books for children. Read on and get the latest energy news from around the world.
Translating News: Nevada offers $1.25 billion in Tax Breaks to Win Tesla
Tesla has reportedly decided to build its $5 billion lithium-ion battery plant in Nevada, USA. The tax incentive package, assembled by Nevada Governor Brian Sandoval to woo Tesla, is unprecedented in size and scope for the state of Nevada. The overall value to Tesla is estimated to be $1.25 billion over 20 years. If the deal is approved, Tesla will operate in the state essentially tax free for 10 years. In exchange, the company must invest a minimum of $3.5 billion in manufacturing equipment and property in the state. (USA Today)
- Mexico Reopens its Energy Market after 75 years
After Mexico’s recent decision to reopen its energy market to outside producers for the first time in more than 75 years, the second largest economy in Latin America is said to be on the verge of an oil and gas boom Until now, private companies could only serve as contractors to the national hydrocarbon or electricity monopolies. Pemex, the state petroleum monopoly, provided almost a third of federal revenues. Yet Pemex’s production began dropping in the mid-1990s. In 2013, the U.S. Energy Information Administration (EIA) predicted that by 2025 Mexican oil production would plunge by more than 50 percent from 2010 levels. But citing the reforms last month, the EIA predicted a turnaround in the decline over the next few years and a return to growth by 2025. (Scientific American)
- US-Myanmar Solar-energy Deal
The U.S. has unveiled a plan to develop solar energy plants in Myanmar. The project is slated for completion in 2016 and is expected to increase the country’s power generation by at least 12 percent. The $480 million solar-energy deal between U.S.-based ACO Investment Group and the Ministry of Electric Power in Myanmar paves the way for developing two 150-megawatt solar energy plants. The investment is one of the largest by a U.S. company in the country since the easing of sanctions. (The Hill)
- Green Energy Coloring Books for Children
The US Department of Energy (DOE) has created clean energy themed coloring books, puzzles and games to promote energy awareness among children. The new learning materials provide students and teachers with creative lesson plans, labs, projects and other energy-related activities for grades K-12. The DOE hopes the materials will encourage children to be part of the clean energy generation. In the department’s “energy awareness activity book,” for example, children are encouraged to “make the switch” to more energy efficient light bulbs. The department has also made an activity book filled with crossword puzzles, word searches and mazes for kids to do. (The Blaze)
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