Under the agreement presented to the Public Utility Commission Wednesday, the semiconductor manufacturer would submit to Vermont environmental laws. The commission still has the final say.
Some $52 billion would fund research and commercialization of advanced chip technology, some of which is being conducted at the Vermont facility.
The semiconductor manufacturer, which has a plant in Essex Junction, says it will comply with the state’s renewable energy standard. Environmentalists say it should comply with all of the standard utility regulations.
Vermont’s Public Utility Commission ruled last week that if GlobalFoundries wants to create its own self-managed utility, it must comply with Vermont’s renewable energy laws. The company plans to move ahead.
Environmentalists criticized the request because it would have exempted the company from Vermont’s climate change laws.
Most hydrogen used for fuel today is extracted from fossil fuels, while “green hydrogen” is produced using electricity from renewable resources.
Why would the state advocate for a global corporation at the apparent expense of Vermonters who are being asked to make sacrifices to avoid runaway climate change?
We see GlobalFoundries’ application for what it is: the opportunity to both support a key employer that is critical to Vermont in helping us meet and exceed greenhouse gas emission reductions and because it is a leader and is willing to move faster than what has been prescribed at the state level.
The Vermont Youth Lobby gathered outside the Statehouse on Friday to demand more climate action, particularly to help those first affected by climate change.
Local students and environmentalists braved the elements Tuesday night to condemn GlobalFoundries’ and Gov. Phil Scott’s proposal that protesters say will undercut Vermont’s climate goals.
Through a proposed plan to become a “self-managed utility,” Vermont’s largest private-sector employer could become exempt from Vermont’s Global Warming Solutions Act.
An electric aviation start-up takes off and a partnership with Raytheon has strengthened the position of GlobalFoundries, one of Vermont’s largest private employers.
The plan would offer the company financial breathing room and lessen the burden on Vermonters’ electricity bills, according to executives.
'It’s pretty well understood this is not the most cost-effective thing to do with your scarce resources, and anyone who isn’t already in the game and a beneficiary will say the same thing,' said Doug Hoffer, the state auditor.