Corporate News: Page 3
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PG&E aims to raise up to $1B for transmission through leases to Citizens Energy
The proposed funding for transmission projects comes a month after Pacific Gas & Electric increased its five-year capital spending plan by 20%, to $62 billion.
By Ethan Howland • March 15, 2024 -
10 Republican-led states file lawsuit to block SEC’s climate disclosure rule
The states say the Securities and Exchange Commission exceeded its rulemaking authority in requiring public companies to disclose climate-related risks as part of their registrations and annual filings.
By Lamar Johnson • March 11, 2024 -
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 -
Geothermal developer Fervo Energy raises $244M as it builds 400-MW Utah project
Geothermal resources account for 4 GW of U.S. electric generating capacity but could scale up to 90 GW by 2050, experts say.
By Kavya Balaraman • March 5, 2024 -
FERC rejects $1.1B Bridgepoint-Energy Capital Partners private equity deal on competition concerns
London-based Bridgepoint said Monday it expects ECP will soon refile an application at FERC, with a closing on the deal expected in the second quarter.
By Ethan Howland • March 4, 2024 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 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 -
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 -
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 -
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 -
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 -
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 Robert Walton • Jan. 23, 2024