Corporate News: Page 3


  • The Columbus, Ohio, skyline, with the American Electric Power headquarters building.
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    The image by Electric Cat is licensed under CC BY-SA 3.0
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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 Feb. 28, 2024
  • A facade of a Schneider Electric building.
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    Permission granted by Schneider Electric
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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
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    Kevork Djansezian via Getty Images
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    Trendline

    Sustainability

    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
  • Pedestrians walk by a Verizon Wireless store.
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    Justin Sullivan via Getty Images
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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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    rabbit75_ist/iStock/Getty Images Plus via Getty Images
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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 Feb. 21, 2024
  • The main gate of the Schneider Electric factory in Pisek, Czech Republic on October 6, 2012.
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    "The image" by Petr Brož is licensed under CC BY-SA 3.0
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    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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    AzmanL via Getty Images
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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
  • Energy Harbor's Perry nuclear plant in North Perry, Ohio.
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    The image by Cards84664 is licensed under CC BY-SA 4.0
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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 Feb. 20, 2024
  • A view of a neighborhood destroyed by a wildfire in Lahaina, Hawaii.
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    Justin Sullivan via Getty Images
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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
  • An exterior of the Barclays Bank headquarters
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    Oli Scarff via Getty Images
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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
  • A FirstEnergy crew working on distribution power lines.
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    The image by FirstEnergy is licensed under CC BY-ND 2.0
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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 Feb. 12, 2024
  • A Fluence Energy Gridstack battery storage system.
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    Courtesy of Fluence
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    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
  • Gas prices are seen displayed at a Shell station.
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    Justin Sullivan via Getty Images
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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
  • Workers stand between solar panels.
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    Mario Tama via Getty Images
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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
  • Wind turbines stand behind a solar power park.
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    Sean Gallup via Getty Images
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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
  • IKEA logo is displayed outside a store.
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    Naomi Baker via Getty Images
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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
  • Electricity from solar panels, dams, and wind turbines. Environmentally-friendly renewable energy concept.
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    bombermoon via Getty Images
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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 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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    stock.adobe.com/rufous

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    Sponsored by PXiSE Energy Solutions

    How a BESS can improve green hydrogen economics

    Why including a BESS in your green hydrogen project configuration is a wise investment.

    Jan. 29, 2024
  • An aerial view of a solar farm with snow-covered solar panels.
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    Bilanol via Getty Images
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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
  • Flags fly above the entrance of the BlackRock offices.
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    Andrew Burton via Getty Images
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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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    BulentBARIS via Getty Images
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    Deep Dive

    Utility 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 Jan. 23, 2024
  • Modern container battery energy storage power plant system rendering
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    Petmal via Getty Images
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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
  • Shot of BlackRock building from below with company logo centered and U.S. flag visible to the right of company name.
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    Spencer Platt via Getty Images
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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
  • An electricity meter covered in snow.
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    Valerie Loiseleux via Getty Images
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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 Jan. 17, 2024
  • Natural gas is flared off during an oil drilling operation
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    Joe Raedle via Getty Images
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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