Corporate News: Page 11
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AEP CEO removed after one year as company strategy remains unchanged
“Nothing’s really changing,” Paul Patterson, a Glenrock Associates equity analyst, said. “It’s the same story but a different chapter.”
By Ethan Howland • Feb. 28, 2024 -
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Schneider Electric reaches tax credit transfer agreement with Engie to invest in clean energy projects
The solar and storage projects, expected to come online this year, will get Schneider Electric closer to its 100% renewable energy goal in North America, the company said.
By Nish Amarnath • Feb. 26, 2024 -
Explore the Trendline➔
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TrendlineSustainability
Companies are pursuing increasingly ambitous sustainability goals around clean energy, but integrating rising amounts of renewables, minimizing environmental impacts, and achieving carbon reduction targets can be challenging.
By Utility Dive staff -
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Verizon allocates $1B green bond proceeds to renewable energy projects
The company has issued five green bonds worth approximately $5 billion since 2019, the net proceeds of which have been invested primarily or completely in clean energy projects.
By Zoya Mirza • Feb. 22, 2024 -
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5 takeaways from the investor-owned utility sector’s day on Wall Street
Utilities will likely issue equity this year to fund the energy transition’s record capital spending, Edison Electric Institute officials said.
By Robert Walton • Feb. 21, 2024 -
Schneider Electric sees surge in energy management, system revenue in Q4 2023
AI developments and continued demand across the data center and infrastructure markets drove its fourth-quarter and full-year growth, according to the company’s latest earnings.
By Nish Amarnath • Feb. 20, 2024 -
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Companies struggle with decarbonization due to internal governance, data issues, Engie finds
Most organizations are committed to decarbonization, but a siloed approach, bureaucracy and data challenges stand in the way of success, says a report from the French multinational utility provider.
By Suman Bhattacharyya • Feb. 20, 2024 -
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With FERC approval in hand, Vistra poised to close on $6.3B Energy Harbor buy
Energy Harbor’s assets will be added to Vistra Vision, which will have 6.4 GW of nuclear generation, 5 million retail customers, and 2.4 GW of renewable energy and energy storage projects.
By Ethan Howland • Feb. 20, 2024 -
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Maui wildfire recovery fund increased to $175M, set for March 1 launch: Hawaiian Electric CEO
The utility separately initiated rolling outages on Tuesday due to multiple large generators being unavailable or operating at reduced output.
By Kavya Balaraman • Feb. 15, 2024 -
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Barclays ceases direct funding of new fossil fuel projects
The London-based bank will also require all its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.
By Lamar Johnson • Feb. 13, 2024 -
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FirstEnergy increases 5-year spending plan 44%, to $26B, drops 2030 carbon goal
The company abandoned its plan to cut carbon emissions 30% below 2019 levels by 2030 amid tightening power supplies in the PJM Interconnection, but it still intends to be net carbon neutral by 2050.
By Ethan Howland • Feb. 12, 2024 -
Courtesy of Fluence
Fluence’s backlog hits record $3.7B as company focuses on domestic energy storage manufacturing
Fluence is also on track to begin manufacturing battery modules at a facility in Utah this summer, allowing it to tap into the “domestic content” tax credit included in the Inflation Reduction Act.
By Kavya Balaraman • Feb. 12, 2024 -
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Shell rebrands climate tech company Studio X as Onward, eyes net-zero economy
The updated energy venture falls in line with the oil major’s goal to become a net-zero emissions energy business by 2050.
By Zoya Mirza • Feb. 12, 2024 -
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Recurrent Energy raises $160M, secures Microsoft as client for solar project
The tech giant will be the sole purchaser of all the energy and renewable energy credits produced by the Louisiana-based Bayou Galion Solar project.
By Zoya Mirza • Feb. 9, 2024 -
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Green investor Brookfield scores $10B for latest energy transition fund
The fund will invest in the expansion of clean energy, the development of sustainable solutions and the decarbonization strategy of companies from high-emitting sectors.
By Zoya Mirza • Feb. 8, 2024 -
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Ikea makes strides in reducing carbon footprint, attributes progress to clean energy initiatives
The home furnishings retailer said its greenhouse gas emissions declined by 11.5% from the previous year and it has updated its climate strategy to reach net zero by 2050.
By Zoya Mirza • Feb. 1, 2024 -
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2024 US power sector outlook
The U.S. clean energy transition is expected to accelerate in 2024 but faces question around transmission, financing, federal elections and other issues.
By Utility Dive staff • Jan. 31, 2024 -
“Schneider Electric Torgauer Straße auf dem EUREF-Campus Berlin-Schöneberg” by Igor Calzone1 is licensed under CC BY-SA 4.0
Schneider Electric hit by ransomware attack against its sustainability business division
The company said the attack directly impacted its EcoStruxure Resource Advisor platform, which is used by more than 2,000 companies worldwide to monitor energy and resource data.
By David Jones • Jan. 31, 2024 -
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Sponsored by PXiSE Energy SolutionsHow a BESS can improve green hydrogen economics
Why including a BESS in your green hydrogen project configuration is a wise investment.
Jan. 29, 2024 -
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NextEra CEO downplays chance of Inflation Reduction Act repeal if Trump re-elected
Investors have expressed concern about political uncertainty and ongoing market volatility in the renewable energy sector, but NextEra CEO John Ketchum said market disruption has only made the company stronger.
By Emma Penrod • Jan. 26, 2024 -
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BlackRock commits $500M to energy storage and solar project developer Recurrent Energy
The investment allows the asset manager to have a 20% stake in the company and marks the inaugural transaction by its fourth climate infrastructure fund.
By Zoya Mirza • Jan. 25, 2024 -
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Deep DiveUtility Business Outlook: Power prices stay elevated as elections sow uncertainty for clean energy plans
For utilities and the clean energy sector, 2024 could bring “an exceptional level of volatility and opportunity,” according to Bank of America Global Research analysts.
By Robert Walton • Jan. 23, 2024 -
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Apex Clean Energy enters joint venture to own US energy storage projects
The venture, called SA Grid Solutions, has kicked off operations with ownership of the Great Kiskadee utility-scale battery project.
By Kavya Balaraman • Jan. 22, 2024 -
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BlackRock to buy Global Infrastructure Partners in $12.5B deal, cites clean energy trends
Through the deal, BlackRock will add GIP companies such as Competitive Power Ventures, Eolian and Terra-Gen Power to its portfolio.
By Lamar Johnson • Jan. 17, 2024 -
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DC government, ratepayer advocate oppose Exelon utility’s multi-year rate plan
The opposition reflects emerging concerns about rising electric rates, per Paul Patterson, a Glenrock equity analyst. “We’re beginning to see — in certain jurisdictions — regulatory pushback,” he said.
By Ethan Howland • Jan. 17, 2024 -
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Chesapeake, Southwestern Energy create new natural gas giant with $7.4B merger
The combined portfolios, which will operate under a new company, will create the largest natural gas producer in the United States.
By Lamar Johnson • Jan. 16, 2024
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