Corporate News: Page 17
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AEP in $315M deal to sell distributed resource business to Basalt Infrastructure funds
While AEP has been moving to sell its unregulated assets, it has decided to retain its AEP Energy competitive power and gas subsidiary, finding it may be able to serve load growth in deregulated states.
By Ethan Howland • May 15, 2024 -
Tasos Katopodis via Getty Images
Small modular reactor startups Oklo and Nano Nuclear Energy make US stock market debut
The advanced fission companies, both of which are designing very small modular reactors for remote or mobile heat and power applications, completed their initial public offerings and began trading on U.S. exchanges last week.
By Brian Martucci • May 13, 2024 -
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TrendlineTop 5 Stories from Utility Dive
Power demand is rising amid dramatic shifts in federal energy policy, but technology and markets continue to push the grid toward cleaner, more distributed resources.
By Utility Dive staff -
Courtesy of Fluence
Fluence pipeline jumps $2.9B from Q1 to Q2
The company downplayed political risk ahead of the U.S. election in November, revealed plans to ship its first “domestic-content” batteries next year and debuted its most energy-dense Gridstack Pro offering yet.
By Brian Martucci • May 13, 2024 -
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Training gaps, lack of diversity and ‘bad PR’ constrain clean energy workforce: Cleanpower 2024 panel
Renewables developers need to think creatively and look at largely untapped labor pools to source talent, executives from Mortenson, Pattern Energy and MasTec Renewables said at the Cleanpower Expo in Minneapolis.
By Brian Martucci • May 10, 2024 -
Permission granted by Renew Home
Google’s Nest Renew, OhmConnect combine with goal of managing 50 GW of residential demand by 2030
The new entity, Renew Home, says it is “North America’s largest residential virtual power plant” and can help to support the electric grid and manage home energy costs.
By Robert Walton • May 9, 2024 -
Courtesy of Holy Cross Energy
NextEra Energy creates new chief risk officer position, citing growing energy demand
Current Chief Financial Officer Kirk Crews has been appointed to the position while Goldman Sachs alum Brian Bolster assumes the role of CFO, the company said Monday.
By Emma Penrod • May 8, 2024 -
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Allete agrees to $6.2B sale to Canadian pension fund, New York private equity firm
The planned deal with Canada Pension Plan Investment Board and Global Infrastructure Partners will give Allete access to capital for its $4.3 billion spending plan, the company said.
By Ethan Howland • May 7, 2024 -
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Oncor Electric files $3.4B plan to strengthen Texas grid, Q1 profit rises 118%
Oncor’s strategic plan includes $525 million to bolster cybersecurity and $1.8 billion to harden and automate its legacy overhead and underground systems.
By Robert Walton • May 7, 2024 -
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Exelon sees data center, other ‘high-density’ load growth opportunities
PECO Energy, an Exelon utility, has had inquiries from data centers and other businesses, according to President and CEO David Velazquez.
By Ethan Howland • May 3, 2024 -
Taiwan Semiconductor’s $65B Arizona investment, data centers key drivers of APS sales growth: CFO
The state is attracting residents and industry, resulting in “robust” first-quarter sales, said Andrew Cooper, chief financial officer of APS parent Pinnacle West.
By Robert Walton • May 3, 2024 -
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Brookfield, Microsoft ink largest-ever corporate clean energy deal for 10.5 GW
Brookfield will deliver wind, solar and “new or impactful carbon free energy generation technologies” to Microsoft between 2026 and 2030.
By Ethan Howland • May 2, 2024 -
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GE Vernova to remain ‘highly selective’ of offshore wind orders amid uncertainty: CEO
In its first quarterly earnings report since becoming an independent company, the power equipment manufacturer contrasted recent wind challenges with near-term optimism for its gas power and electrification business lines.
By Brian Martucci • May 1, 2024 -
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Citi achieves $441B of $1T sustainable finance 2030 goal with renewables a ‘major driver’: report
The bank has also met more than half of its goals to reduce its operational footprint by 2025.
By Lamar Johnson • May 1, 2024 -
The image by Peretzp is licensed under CC BY-SA 3.0
PSEG in talks to sell nuclear power to data centers: CEO LaRossa
“Our New Jersey nuclear units could provide access to a highly reliable, carbon-free source of baseload power,” PSEG CEO Ralph LaRossa said Tuesday.
By Ethan Howland • May 1, 2024 -
Courtesy of Amazon
AEP faces 15 GW of new load, driven by Amazon, Google, other data centers: interim CEO Fowke
Load growth in Ohio is sparking talk of letting the state’s utilities own power plants again, Ben Fowke, AEP interim CEO, said Tuesday.
By Ethan Howland • May 1, 2024 -
Permission granted by Schneider Electric
Data center demand drives growth in Schneider Electric’s energy management segment
Energy management revenue in North America grew 10.2% organically to almost $2.8 billion in Q1, the company said last week.
By Nish Amarnath • April 30, 2024 -
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BlackRock, Temasek decarbonization venture raises $1.4B
Decarbonization Partners surpassed its initial goal of $1 billion for its first late-stage venture capital fund.
By Lamar Johnson • April 29, 2024 -
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OpinionIs your utility’s online marketplace operating at full power? It might be time for a reboot.
Such marketplaces have raised awareness of energy efficiency and sustainability. But as technologies like LED bulbs and smart thermostats have become commonplace, sales have slowed and traffic has dropped.
By Mark Wilkinson • April 29, 2024 -
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Bank of America, Goldman clean energy ratio proposals fail, despite some shareholder support
The resolutions failed to pass despite over a quarter of voters supporting them before each of the banks' boards.
By Lamar Johnson • April 29, 2024 -
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FirstEnergy may ‘put a little money on the table’ to help end HB 6 bribery litigation: CEO
With recently approved rate hikes, FirstEnergy “proved that we can obtain constructive regulatory outcomes across our jurisdictions,” CEO Brian Tierney said.
By Ethan Howland • April 29, 2024 -
Permission granted by Vanguard Renewables
Vanguard, TotalEnergies announce joint venture for at least 10 RNG facilities
The companies left open the possibility to expand their partnership to up to 60 organic-waste-to-RNG facilities. The first three facilities will be built on farms in Wisconsin and Virginia.
By Jacob Wallace • April 25, 2024 -
Courtesy of Siemens
Siemens, Eaton, Cummins among companies to receive 48C clean energy tax credits
Clean energy manufacturers have received $1.9 billion so far under the Inflation Reduction Act-funded tax credit.
By Joelle Anselmo • April 24, 2024 -
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PG&E highlights 100% emissions-free power in 2023 as generation spin-off hits snag
California regulators could vote in May on a proposal to reject Pacific Gas & Electric’s plan to create a separate company with 5.6 GW in non-nuclear generating assets as part of an effort to raise capital.
By Ethan Howland • April 24, 2024 -
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Equinor jumps into ERCOT market with 110 MW of merchant battery projects
The projects come as battery storage capacity in ERCOT could grow to 17,700 MW by mid-2025 from 6,300 MW in March, according to data from the grid operator.
By Ethan Howland • April 16, 2024 -
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Chevron leads $45M investment in carbon removal company Ion Clean Energy
The energy giant made the investment through its New Energies division in collaboration with Carbon Direct Capital.
By Lamar Johnson • April 11, 2024
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