Corporate News: Page 9
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Entergy Louisiana plans 3 GW solar expansion, citing demand from heavy industry
The Louisiana PSC's approval of an expedited review process for new solar projects will help enable more solar and boost economic development in the state, according to Entergy Louisiana.
By Emma Penrod • May 23, 2024 -
imacoconut via Getty Images
OpinionInvesting in green companies: Why private equity should lead the charge
Investing in green companies not only addresses pressing environmental concerns but offers compelling financial returns as well.
By Hajar Jouglaf • May 22, 2024 -
Permission granted by Avangrid
Iberdrola to acquire remaining 18.4% of Avangrid in $2.6B deal
The Spanish company already owns 81.6% of its U.S. subsidiary, which has nearly 9 GW of onshore renewables and several offshore wind farms under development.
By Brian Martucci • May 21, 2024 -
image via Getty Images
Schneider Electric purchases IRA tax credits from solar manufacturer
The senior director of renewables for Schneider’s sustainability business called the Inflation Reduction Act’s transferable credits a “revolutionary development.”
By Lamar Johnson • May 21, 2024 -
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SoCalEd-Lotus Infrastructure consortium wins $503M CAISO transmission project
A NextEra Energy Transmission subsidiary, Horizon West Transmission, also recently won two CAISO projects in Southern California totaling about $2.6 billion.
By Ethan Howland • May 21, 2024 -
PBouman via Getty Images
North American utility credit metrics weaken on rising capex, regulatory lag: Morningstar
As regulators seek to balance utility investment needs and consumer affordability, this often exerts downward pressure on the return on equity, analysts at the credit rating agency said.
By Ethan Howland • May 17, 2024 -
Kelly Sullivan via Getty Images
Meta to bring 210 MW of solar energy to Indiana
The tech company’s agreement with Solarpack will help deliver renewable energy to support Meta’s operations in the state and build on its decarbonization goals.
By Zoya Mirza • May 16, 2024 -
Courtesy of Plug Power
DOE awards $1.7B conditional loan guarantee to Plug Power to build 6 clean hydrogen factories
The loan guarantee, which follows several similar awards to other companies, will help accelerate hydrogen industry growth, according to an industry association.
By Emma Penrod • May 15, 2024 -
Scott Olson via Getty Images
Global banks have spent $6.9 trillion on fossil fuels since 2016: report
U.S. banks accounted for 30% of the $705 billion private global banks spent on fossil fuel financing in 2023, per the Banking on Climate Chaos report.
By Lamar Johnson • May 15, 2024 -
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AEP Ohio proposes data center, crypto financial requirements amid 30 GW in service inquiries
The proposed tariffs aim to ensure data centers and cryptocurrency operations pay for their share of any transmission buildout needed to serve them in the PJM Interconnection.
By Ethan Howland • May 15, 2024 -
Hiraman via Getty Images
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 -
Permission granted by Oklo
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 -
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 -
image via Getty Images
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 -
Justin Sullivan via Getty Images
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 -
Bim via Getty Images
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 -
ttretjak via Getty Images
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
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