Corporate News: Page 7
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Dominion says ratepayers will be insulated from PJM capacity auction impacts
Despite the PJM Interconnection’s 2025/26 capacity auction seeing record high prices, Dominion Energy has the “natural hedge” of its own generation, said CEO Bob Blue.
By Diana DiGangi • Aug. 7, 2024 -
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SunPower files for bankruptcy, plans to sell or wind down remaining operations
SunPower, a leading residential solar installer, has encountered a “severe liquidity crisis” and must sell its assets to pay down more than $2 billion in debts, company officials said.
By Emma Penrod • Aug. 7, 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 -
Courtesy of Panda Power
Quantum in $3B deal to buy Cogentrix, with its 5.3 GW of gas generation, from Carlyle
Quantum says it plans to “meaningfully grow” Cogentrix, which owns power plants in New England, PJM and Texas.
By Ethan Howland • Aug. 6, 2024 -
Stock Photo via Getty Images
Cleveland-Cliffs moves ahead with $150M electric transformer plant
The electric industry is facing a transformer supply shortage, which the widespread adoption of AI will continue to exacerbate, according to Cleveland-Cliffs President and CEO Lourenco Goncalves.
By Joelle Anselmo • Aug. 6, 2024 -
Permission granted by Schneider Electric
Schneider Electric’s Q2 revenue in North America soars amid growth in energy management
Energy management revenue organically rose 15.5% year over year, to nearly $3.4 billion in North America, despite contending with supply chain challenges, the company said.
By Nish Amarnath • Aug. 6, 2024 -
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HEI, Hawaiian Electric to pay $2B in pending Maui wildfire settlement
The proposed agreement will provide Hawaiian Electric Industries and its utility subsidiary with financial certainty, Scott Seu, HEI president and CEO, said.
By Ethan Howland • Aug. 5, 2024 -
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Xcel Energy draws 6.7 GW of data center requests, including from Meta and Microsoft
The company will likely need to build new generation assets and transmission in order to supply these requests, CEO Bob Frenzel said during a Thursday earnings call.
By Emma Penrod • Aug. 5, 2024 -
Courtesy of Georgia Power
US nuclear policy gains boost fuel supplier Cameco as Q2 earnings jump 157%
The Canadian uranium producer sees long-term order growth as clean energy demand rises and U.S. nuclear operators seek alternatives to Russian supplies
By Brian Martucci • Aug. 2, 2024 -
imaginima via Getty Images
PJM capacity auction to lead to double-digit rate hikes for Exelon utilities: CFO
When asked about possible power plant ownership, Exelon President and CEO Calvin Butler said, “We're working with our [state utility] commissions on all types of scenarios.”
By Ethan Howland • Aug. 2, 2024 -
The image by FirstEnergy is licensed under CC BY-ND 2.0
FirstEnergy seeks alternatives to PJM capacity market to bolster power supply
“I'd call yesterday's [PJM auction results] the canary in the coal mine, and the canary didn't make it,” Brian Tierney, FirstEnergy president and CEO, said.
By Ethan Howland • Aug. 1, 2024 -
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AEP data center and other commercial sales soar 12.4% in Q2
American Electric Power’s peak load could jump 43% by the end of this decade, to 50 GW, based on current data center commitments, according to the company.
By Ethan Howland • Aug. 1, 2024 -
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OpinionWhy energy-transition innovators need a sound patent strategy — and how to build one
Identifying existing IP early in the innovation process helps companies evaluate the viability of their project. It also affords them greater leverage to negotiate potential licenses, agreements and business collaborations.
By Hilary Preston and Eric Klein • Aug. 1, 2024 -
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DC Circuit vacates FERC approval of $950M Williams pipeline project
The agency failed to adequately explain why it dismissed studies showing that the Mid-Atlantic project wasn’t needed or why it didn’t assess the significance of its carbon emissions, the court said.
By Ethan Howland • July 31, 2024 -
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Texas weighs clawing back $800M CenterPoint spent on unused generation
Hurricane Beryl impacts could contribute to a 2% rise in customer bills for 15 years, the utility said Tuesday.
By Robert Walton • July 31, 2024 -
Laurence Dutton via Getty Images
Data platform Paces nabs $11M to scale clean energy development
The new funding will help the company improve its platform, enhance its data intelligence and make certain data tools more available throughout the United States.
By Zoya Mirza • July 30, 2024 -
Courtesy of Enphase Energy
Enphase Energy revenue drops 57% but California net metering rules spur battery sales
The revenue decrease was due to a “broad-based slowdown” in the U.S. and Europe caused by higher interest rates, policy changes and other factors, the company said.
By Brian Martucci • July 25, 2024 -
Courtesy of Holy Cross Energy
Data center renewables demand drives strong Q2 for NextEra Energy Resources
NextEra Energy’s development arm signed deals for more than 3 GW of renewable energy during the second quarter, including an 860-MW agreement with Google.
By Emma Penrod • July 25, 2024 -
Joey Sirmons/Utility Dive
Sustainability experts: ‘Start preparing now’ for SEC climate rule, other disclosure regulations
Despite the SEC rule’s temporary stay, sustainability experts said companies should not wait for the court’s ruling to begin preparing for compliance.
By Zoya Mirza , Lamar Johnson • July 22, 2024 -
Permission granted by Intersect Power
Intersect Power secures $837 million to boost Texas storage portfolio by nearly 1 GWh
The package will finance three 320-MWh storage facilities set to complement 1.2 GW of Intersect Power-owned peak solar capacity later this year.
By Brian Martucci • July 18, 2024 -
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LevelTen Energy scores $65M to scale clean energy transition
The transaction infrastructure company connects renewable energy buyers, sellers and advisers and plans to use the financing to expand its platform.
By Zoya Mirza • July 18, 2024 -
Permission granted by Schneider Electric
Schneider Electric upgrades cloud-based energy management platform
The enhancements include an automation feature that provides building operators with real-time calculations of renewable energy coverage against consumption data, a company executive said.
By Nish Amarnath • July 18, 2024 -
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BlackRock updates climate stewardship policies, targeting $150B in funds
The policies will initially apply to 83 European investment funds with $150 billion in assets under management and prioritize sectors and companies “critical” to the clean energy transition.
By Lamar Johnson • July 16, 2024 -
(Photo by Tim Boyle/Getty Images) via Getty Images
Italy-based Westrafo to build its first US transformer plant
The Ohio medium transformer manufacturing facility will have an output of 12 GW per year starting in 2027.
By Joelle Anselmo • July 15, 2024 -
David McNew via Getty Images
Amazon hits renewable energy goal early, reduces carbon emissions
The e-commerce giant said it met a goal to match all of its electricity consumption with renewable energy seven years early and decreased overall emissions by 3% in 2023.
By Zoya Mirza • July 15, 2024 -
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Cushman & Wakefield, Catalyze partner to increase renewable energy installations
Expanding the use of solar and energy storage technology at U.S. commercial and industrial facilities can reduce emissions and save money, the companies say.
By Nish Amarnath • July 15, 2024
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