Energy Transfer Partners (ETP) has a big bet on clean energy and the renewable energy market.
The company is planning a massive clean energy project that could bring electricity to as many as 1.5 billion homes.
ETP CEO Tom Steyer has pledged that by 2030, ETP will generate $1 trillion in clean energy investments.
In a statement, ETPA President Scott Belshe said that by 2035, it will be investing $50 billion in clean technologies.
But, the company also warned that its investment in renewables could be less than 10% of its investment.
Belshi said the investment will not be enough to keep pace with the cost of clean energy, which has more than doubled since 2020.
“It’s going to be difficult to keep up,” he said.
“It’s not going to work.”
ETPA, the nation’s largest investor in clean-energy investments, announced plans to invest $500 million in clean technology last year.
Bleshe said the company will invest more than $1 billion this year.
“That’s the most we have ever invested in a clean technology company,” Belshed said.
The project is scheduled to be completed by the end of 2019.
The investment is expected to create as many jobs as 100,000 and create about 20,000 jobs over a 10-year period, Belshes said.
By 2035 the investment would add to the nearly 50,000 positions created by the Clean Energy Investment Act, or CEIA.
The CEIA was signed into law in January of 2018 and created a pathway for private investors to invest in clean tech projects in a number of states.
Boeshe said, as of June 30, there were more than 3,000 companies participating in the CEIA program.
It is unclear how many companies have participated in the project.
The projects were announced with little public debate, even though there was an outpouring of support from some sectors.
“This is a project that has been talked about for years,” Bleshes said, referring to the CEAA.
“We have been working on this for years.
It’s going in the right direction.
We’re just working on getting it all together.”
A report by the nonpartisan American Wind Energy Association (AWEA) estimated that the project could create about 1,000 new clean energy jobs and create thousands of jobs in the industry.
AWEA President and CEO Jim Ruggles said the industry has been trying to figure out how to adapt to a changing world, but it has been hit by the most rapid changes since the 1970s.
“There’s a tremendous amount of pressure on the energy industry,” Ruggs said.
According to the AWEa report, the clean technology sector will account for nearly 1 in 5 jobs by 2030.
BLESHE said the project is a significant investment because it will create about 50,500 jobs in renewable energy and will provide more than 20,600 new jobs for the state of California, which is home to roughly 10% and 8% of the country’s electricity generation, respectively.
“You have a clean energy industry that is a very important contributor to the economy of California and its economy, and the jobs created by this project will create an additional 4,000 manufacturing jobs and 6,000 construction jobs,” Boeshes said of the project in an interview.
Bets on the project are complicated.
AEWA has argued that the investment is not enough to meet the goal of achieving energy independence by 2050.
The AWES has called for the CEIAA to be repealed and for the federal government to focus on policies that encourage investment in clean and renewable energy, like a carbon tax.
A spokesman for Belshey did not respond to a request for comment.