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Equinix and the NUS Center for Energy Research & Technology Partner to Advance Hydrogen Technologies for Data Centers

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SINGAPORE and REDWOOD CITY, CA., September 20, 2022 /PRNewswire/ — Continuing its efforts to advance the sustainability of digital infrastructure and achieve its climate-neutral, science-aligned goals by 2030, Equinine, Inc. (Nasdaq: EQIX) today announced a partnership with the Center for Energy Research & Technology (CERT) under the National University of Singapore (NUS) College of Design and Engineering to explore technologies that enable the use of hydrogen as a green fuel source for critical data center infrastructure.

Together, Equinix and CERT will launch the world’s first research project to compare the efficiency of proton exchange membrane (PEM) fuel cells and fuel-flexible linear generator technologies. PEM fuel cells are a major contender for hydrogen power, while fuel-flexible linear generators allow operators to easily switch between a variety of clean fuel options, including hydrogen, biogas, and various renewable liquid fuels. Adopting these technologies can enable data centers to reduce carbon emissions while meeting the growing demand for data, colocation and interconnection services.

The research collaboration between Equinix and CERT will involve a holistic assessment of the suitability of these technologies for tropical data centers, taking into account local climatic conditions, site constraints, power demand, data supply, fuel storage capacities as well as local regulatory policies.

This research initiative is part of a Memorandum of Understanding (MOU) signed earlier this year between the two partners. As part of the MoU, CERT will perform a comprehensive analysis of the identified technologies in conjunction with Equinix, to determine the operational viability of the technologies at scale. Based on the research findings, Equinix plans to develop proof-of-concept projects within its global network of data centers for real-world testing and support integration into future data center designs. By stimulating innovation in Singaporethe Equinix and CERT partnership aims to accelerate disruptive technologies that can reduce the carbon footprint of global data centers, especially in tropical regions.

This partnership is part of Equinix’s strategy The future first strategy that underlines the company’s commitment to greening the digital economy. Green hydrogen has been identified as a viable source of sustainable energy for data centers. However, industrial-scale hydrogen production remains several years away from being commercially viable, making it imperative to evaluate and adopt alternatives even as global research and development continues.

Quotation:

Yee May LeongGeneral director, South Asiaequinix
“Data centers serve as a conduit fueling the digital economy, and greening their operations can spur the rise of sustainable businesses across the economic landscape. Working with like-minded partners like the Center for NUS Energy Research & Technology empowers us to combine experience and expertise to advance the growth of digital economies in line with environmental obligations, benefiting the data center industry, global economies and the planet.”

Associate Professor Lee Poh SengDirector, Center for Energy Research and Technology, NUS College of Design and Engineering
“Sustainability is an essential pillar of the global economy. To complement public sector efforts, timely progress also requires collaboration with stakeholders in the private sector and academia. We want to work with industry partners like Equinix, which is known for its sustainability efforts and gives us access to a global network of data centers that can serve as a test bed for a more accurate assessment of operational viability. Through this partnership, we look forward to playing a leading role in green data center innovations that can be applied in Singapore and globally.”

Reaffirming Equinix’s commitment to creating a more environmentally sustainable future, the company has been recognized with numerous sustainability awards across the Asia Pacific Region. In 2022, Equinix was named from Asia Green Company of the Year at the Asia Corporate Excellence & Sustainability Awards, Singapore Data Center Services Company of the Year by Frost & Sullivan, and received the Green Innovation Award in the MNC category at the Singapore Environmental Achievement Awards 2022.

Highlights / Highlights:

  • As part of this partnership, Equinix and NUS CERT will conduct a comprehensive analysis to compare two clean on-site power generation technologies for the data centers of the future. These technologies include:
    • PEM fuel cells are becoming increasingly popular due to their ability to generate electricity with hydrogen and oxygen. Some designs can also run the process in reverse to produce pure hydrogen for future use with just water and electricity.
    • Fuel-flexible linear generators provide the ability to switch between fuels like hydrogen, biogas, and various renewable liquid fuels, enabling the installation of infrastructure that can be easily adapted as the market changes, giving organizations increased agility.
  • Equinix was the first in the data center industry to commit to becoming climate neutral, aligned with approved science-based targets, for reducing emissions in global operations and the supply chain by 2030. Additionally, Equinix continues to evaluate on-site solar opportunities, on-site generation from fuel cells, and any other distributed low-carbon technologies that fit within its overall strategy.
  • Equinix’s renewable energy coverage has exceeded 90% since 2018. In 2021, the company achieved 95% renewable energy coverage. Year over year, Equinix increased its renewable energy purchases by 16% on a GWh basis.
  • Earlier this year, Equinix announced the opening of its first Co-Innovation Facility (CIF), located in its DC15 International Business Exchange™ (IBX®) data center on the Equinix Ashburn campus in the washington d.c. Region. The CIF is a component of its Data Center of the Future Initiative and is a new capability that enables innovative partners to work with Equinix to test and develop methodologies that can be used to help define the future of infrastructure and digital services.

About Equinix
Equinix (Nasdaq: EQIX) is the global digital infrastructure company. Digital leaders leverage Equinix’s trusted platform to bring together and interconnect core infrastructure at the speed of software. Equinix connects organizations to all the right places, partners and opportunities to scale with agility, accelerate the launch of digital services, deliver world-class experiences and multiply their value, all while supporting their sustainability goals.

Forward-looking statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements are based on current expectations, including, but not limited to, statements regarding Equinix’s sustainability focus and goals and the Memorandum of Understanding with CERT. Actual results may differ materially from the expectations described in these forward-looking statements. Factors that could cause such differences include, but are not limited to, risks to our business and results of operations related to the COVID-19 pandemic; the current inflationary environment; exchange rate fluctuations; rising electricity supply costs and general volatility in the global energy market; challenges associated with acquiring, operating and building IBX and xScale® data centers and developing, deploying and delivering Equinix products and solutions; unforeseen costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; an inability to receive meaningful revenue from customers in newly built or acquired data centers; failure to enter into contemplated financing agreements from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding debt; the loss or decline in business of our major customers; risks relating to our taxation as a REIT and other risks described from time to time in Equinix’s filings with the Securities and Exchange Commission. In particular, see Equinix’s recent and upcoming quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix assumes no obligation to update the forward-looking information contained in this press release.

SOURCEEquinix, Inc.


Northern Ireland secretary says he is aware of energy market differences

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The government is working to find a good solution to the “specific problem” of providing UK-wide energy support payments to consumers in Northern Ireland, the secretary of state said.

Chris Heaton-Harris said he was aware that the energy market in the region was very different from that in Britain.

On Wednesday, the government is expected to give more details on how state-funded mitigation measures against spiraling energy bills will be implemented in Northern Ireland.

Prime Minister Liz Truss (AP)

(PA wire)

Earlier this month, Prime Minister Liz Truss outlined plans for an “energy price guarantee”, with a pledge to cap average household bills at £2,500 for the next two years.

At the time, the government acknowledged that a different approach would be needed in Northern Ireland, but gave no details, other than a promise that a “similar” level of support will be offered to people in the region. .

The Northern Ireland market has its own regulator and does not have the energy price cap system that operates in the rest of the UK.

A higher percentage of households in the region depend on heating oil than other consumers in Britain.

The picture is potentially further complicated by the lack of a functioning devolved executive in Northern Ireland.

The DUP has blocked the formation of an executive in protest against Northern Ireland’s Brexit Protocol. Some ministers remain in office in fictitious format but they are limited in the decisions they can make.

On a visit to Belfast on Tuesday, Mr Heaton Harris said: ‘I know there is a specific market identity in Northern Ireland.

“On the first day I had only been at work for less than 12 hours, we had questions for me on the floor of the House and a lot of people commented that 68% of people here in Northern Ireland use fuel oil for their main source of heat.

“So we have a specific market and a specific problem and I’ve been working in government trying to find a good solution that works.”

Mr Heaton-Harris pointed out that some support payments have already been made to eligible recipients in Northern Ireland.

On Tuesday, £150 was to be paid to certain welfare claimants and pensioners.

Economy Minister Gordon Lyons (AP)

(PA wire)

DUP Economy Minister Gordon Lyons said Northern Ireland should be included in a UK-wide scheme.

“Some of those details are still being worked out, we clearly have a different way our energy system works here in Northern Ireland,” he told the PA news agency.

“But I’ve always believed that the best and fastest way to get money to people was directly through a UK-wide scheme and I think that’s what will happen. .”

Mr Lyons said he did not expect all the details to be confirmed this week.

“Well I think there will always be a bit of a teasing issue and that applies across the whole of the UK there will be a number of issues that will need to be addressed,” he said. he declares.

“And we’ll see a big picture of where we are. But I have made it clear in my conversations with UK government ministers that this support is essential and needs to happen as soon as possible, and I think we will see progress on this.

The government has also pledged to offer a £400 energy bill cut to residents of Northern Ireland.

There had been uncertainty over how the program, announced earlier this year, would roll out in the region without a functioning ministerial executive.

Last month the government said it would be delivered “as soon as possible”, but did not set a firm timetable.

At the time, Mr Lyons said he believed the program would be delivered in November as a one-off lump sum to energy companies.

On Tuesday, Mr Lyons said he was confident the timetable could still be met.

“I hope that will always be the case,” he said.

“Obviously the death of Her Majesty The Queen means that Parliament has not met for the past 10 days. Legislation will have to be brought forward for this scheme.

“But I still believe we’re on track to get that before the end of this year. But I’m hoping sooner, and I still think it’s possible for that to happen.

Skrekas: Almost ‘zero chance’ of power cuts due to energy crisis

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ATHENS — There is almost no chance that the energy crisis will lead to power cuts, Environment and Energy Minister Kostas Skrekas said on Tuesday, speaking to private TV channel Skai.

“In life and at a time when a conventional and energy war is raging, nobody can rule anything out, but I repeat that these possibilities are very small, almost zero,” Skrekas said.

Among the measures taken to ensure sufficient supply, the Minister listed the installation of a second Liquid Natural Gas (LNG) storage tank in Revythoussa, an increase in coal production, the possibility of switching to diesel in power plants now using natural gas and natgas. storage. In addition, there will soon be a European directive on energy saving, especially during afternoon and evening peak hours.

Referring to the subsidies for energy bills, which the government is due to announce in the coming days, Skrekas reiterated that there will be three subsidy tranches, ranging from the highest to the lowest, as well as an additional discount for anyone reducing their energy consumption compared to last year. It is estimated that these will absorb 90-94% of the rate increases.

The minister said no bonus will be given for decreasing natural gas consumption as this would be difficult to calculate for apartment buildings with shared central heating systems. The price will be seven to ten times higher than the previous year and state support will make it more affordable but not similar to pre-crisis levels, he said.

Messages from Valley City Mayor Dave Carlsrud

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VALLEY CITY, ND (NewsDakota.com) – “Hey everyone, and good evening” (Vin Skully.)

The leaves are changing color and the evenings are a little cooler as we move into fall. Take time to embrace beauty.

Missouri River Energy Services (MRES) held meetings last week. The team exercises strategies to minimize the effects of inflation and higher energy costs. They do a great job on our behalf.

I hope you all took the time to notice the beautiful flower pots and flowers on the streetlights downtown. Thank you to everyone who made planting and watering easier this summer. With the lack of rain, timely watering was essential to keep them alive and beautiful.

Serving your community can be very rewarding. Volunteer at church, school, museum, library, city councils or run for office. There are many ways to contribute without taking up too much of your time. Consider serving and “Try it”!

VCSU Homecoming was last Saturday, the parade, football game, alumni rallies and campus tours took place despite intermittent rain. It was good to see so many people in the parade because shortly after there were quite heavy rain showers.

The thunder, lightning and rain were refreshing as it had been a long time since we had such an event!

“When you find yourself in situations of impossible demands, choose relationships first.” (Sarah Boyd)

Blessings, respect, kindness and prayers, Valley City Mayor Dave Carlsrud.

AGL Energy’s largest shareholder questions director’s promotion to chairman

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The logo of AGL Energy Ltd, Australia’s second-largest electricity retailer, adorns its headquarters building in Sydney, Australia February 8, 2017. Picture taken February 8, 2017. REUTERS/David Gray/File Photo

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  • Grok leaves door open to vote against McKenzie as president
  • Grok would prefer an externally appointed president
  • AGL shares fall 2%

MELBOURNE/BENGALURU, Sept 19 (Reuters) – AGL Energy (AGL.AX) said on Monday that board member Patricia McKenzie would replace Peter Botten as chairman, in the first stage of an overhaul after the producer electricity has abandoned its plan to split its coal-fired power plants. energy retail production unit.

However, the appointment has not gone down well with its largest shareholder, tech billionaire and climate activist Mike Cannon-Brookes, who has pushed for a complete overhaul of the top producer’s board and strategy. Australian electricity.

AGL is set to lay out plans for a new strategy later this month after bowing to pressure from Cannon-Brookes to speed up the shutdown of its coal plants. learn more (https://reut.rs/3S3IPMz)

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Cannon-Brooke’s private investment arm, Grok Ventures, expressed reservations late Monday about McKenzie’s appointment and said the company would be best served by an externally appointed chairman with substantial energy experience. renewables or operational transformation.

“Grok re-emphasizes that the renewed board needs independent and fresh thinking,” Grok Ventures said in an emailed statement.

Grok did not say how he would vote on McKenzie’s nomination at the company’s annual meeting.

AGL shares fell 2% on Monday, underperforming a 0.3% drop in the broader market.

McKenzie is currently chairman of New South Wales Ports and was also a director of natural gas operator APA Group (APA.AX) and a member of the Australian Government’s National Energy Reform Council.

“The company has gone through a period of significant change and uncertainty, and I am assuming the role of Chair to provide clear direction and stable experienced leadership as we redesign our energy portfolio and deliver the results of the energy review. strategic direction,” she said. in a report.

The appointment comes months after Grok Ventures successfully forced AGL to abandon its split plan in May, leading Botten and AGL CEO Graeme Hunt to resign. (https://reut.rs/3S3IPMz)

The Australian company said outgoing chief executive Hunt would leave on September 30 and chief financial officer Damien Nicks would serve as interim chief executive while he chose a new chief executive from a shortlist of Australian and global candidates.

Grok welcomed Nicks’ nomination.

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Reporting by Sonali Paul in Melbourne and Upasana Singh and Navya Mittal in Bengaluru; Editing by Devika Syamnath, Sherry Jacob-Phillips and Christian Schmollinger

Our standards: The Thomson Reuters Trust Principles.

AGL plots solar and storage microgrid for farm – pv magazine Australia

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Electricity supplier AGL Energy will deploy a solar micro-grid with 5.4 MWh of battery energy storage on a commercial orchard in the New South Wales Riverina region in a bid to reduce the horticultural operation’s dependence on diesel generators.

Australian energy group AGL said the solar storage microgrid will allow managers of the Cadell Orchards almond farm near Balranald in south-west New South Wales to transfer the irrigation system from diesel generators to a mix of solar PV and battery energy storage.

The system will include a 4.9 MW solar farm to be built on site, a 5.4 MWh battery system, an inverter, a grid stability unit, a micro-grid controller and communications, and approximately 7 kilometers new underground power lines.

AGL, which will build, own and operate the solar micro-storage grid under a long-term power purchase agreement, said it would supply 5.2 GWh of renewable energy to the site, reducing thus Cadell Orchard’s dependence on existing diesel generators and reducing the consumption of the orchard. up to 4,700 tons of carbon emissions per year.

David Armstrong, managing director of Australian Farming Services, which runs Cadell Orchards, said the 1,690-hectare property is not connected to the grid, but instead relies on electric pumps currently powered by diesel generators for all irrigation needs.

“By working with AGL, we will be able to generate clean, renewable solar energy that will reduce our emissions, reduce our reliance on diesel fuel by 85% and deliver up to 40% energy savings each year,” he said.

“Our orchard will also benefit from energy price certainty and improved energy resilience and reliability.”

AGL’s Chief Customer Officer, Jo Egan, said the company is working with Cadell Orchards to model energy consumption and design an integrated renewable energy system to reduce their energy costs and create a more sustainable farming operation. sustainable.

“This is AGL’s second major microgrid announcement this year and a great example of how AGL is partnering with agribusinesses to help them reduce their carbon emissions and energy costs.” , she said.

“AGL is committed to renewable energy and it is through partnerships like this that we deliver a low carbon future with our customers and communities as we go to net zero.”

Installation of the new micro-grid is due to start in April 2023 and is expected to provide electricity by October 2023.

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A guide to choosing cork flooring for your home

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Of course, many materials are suitable for household flooring. hardwood, vinyl, stone, and composite materials can be used, but the best choice is cork. The list of benefits of using cork is long, but some of the most notable include: being the only material that provides a smooth and quiet walking experience, and being a sustainably harvested material, which means you can reduce your carbon footprint.

Choose a cork floor

You can find a variety of cork flooring at your local flooring showroom, where you can experience the product in a real environment, and knowledgeable staff are on hand to advise you on all aspects of the flooring. There are many models with all shades of brown and beige. The product comes in roll and tile form. Most homeowners prefer tiles because there is less waste. Cork can be installed over any substrate and may or may not require backing, depending on the material.

FSC accredited

The Forest Stewardship Council (FSC) is an organization dedicated to the sustainable management of forests and any FSC-accredited cork product, such as high quality Perth cork floor tiles, has been sustainably harvested, making it an eco-friendly choice. To find a cork supplier near you, all it takes is a quick search online.

How is cork harvested?

The cork orchard is maintained for 25 years before the first harvest; then every 9 years, which actually encourages new growth and does not harm the tree in any way. The orchard does what nature intended – it reduces carbon dioxide in the atmosphere and this continues throughout the harvest period. With multiple orchards, a cork farm can continually rotate the harvesting process, producing a high volume of cork to process.

Sound softening

The acoustics inside a building can vary considerably; hard surfaces cause sound waves to bounce, causing these slight rebuffs, which amplify the sound. Cork is soft and absorbs sound, greatly reducing ambient sound.

Energy saving

The cork has thermal properties that insulate, which means less heat exchange between different environments; energy conservation is more important than ever and choosing cork tiles just makes sense. For more information on energy savings, contact a leading flooring supplier with a showroom in your area that also lets you experience the material in a real setting.

Professional installation

Unless you are a DIY expert, cork flooring should be left to the professionals, who know the importance of subfloor preparation to ensure a first-class job. The supplier employs teams of flooring specialists and they view each project as a challenge. Once you have decided on the design, a date can be set and you can prepare the room by removing all the furniture. The floor is sanded after installation to obtain a smooth and soft surface, finally a sealer is applied. The supplier issues a full guarantee and after a day or two you can use the floor.

The number of homeowners choosing cork for their floors reflects the many attractive properties this natural material possesses. Search online for your nearest flooring showroom and discover the high quality cork products to complement your home.

Ontario Teachers: Mahindra Group and Ontario Teachers’ Announce Strategic Partnership

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Mahindra Group and Teachers’ on Saturday announced the formation of a strategic partnership under which they will invest approximately Rs 4,550 crore to develop the future portfolios of Mahindra Susten Private Ltd (MSPL), a renewable energy platform from the first. “Mahindra Group and Ontario Teachers’ have agreed to invest an amount of approximately Rs 4,550 crore to develop MSPL’s future portfolio,” a regulatory filing reads.

The filing showed that under MSPL, a subsidiary of Mahindra Holdings Ltd (MHL) and 2452991 Ontario Ltd (2OL) signed a share purchase agreement and a shareholders agreement as part of the strategic partnership.

The agreements provide for the sale of MHL’s 30% stake in MSPL to 2OL for a cash consideration of Rs 711 crore, it showed.

Mahindra Holding Ltd (MHL), a subsidiary of Mahindra & Mahindra Ltd, will sell an additional 9.99% of the paid-up share capital of MSPL to any other investor or to 2OL or any of its affiliates (Ontario Teachers’) on 31 May 2023, showed regulatory filing.

He also said the covenants also provide for the formation of an Infrastructure Investment Trust (InvIT) with MSPL and Ontario Teachers’ as sponsors, which will hold the identified operational assets housed in Special Purpose Vehicles (SPV Project) .

Mahindra Group and the Ontario Teachers’ Pension Board have formed a strategic partnership to capitalize on India’s growing renewable energy opportunity and contribute to the country’s decarbonization ambitions , a statement from the company said.

The parties have signed binding agreements under which Ontario Teachers’ will acquire a 30% stake in MSPL at a net worth of Rs 2,371 crore (USD 300 million).

The InvIT is initially proposed to comprise renewable energy assets seeded by Mahindra Susten with an operational capacity of approximately 1.54 GWp.

Under the proposed transaction, shareholder loans of Rs 575 crore (USD 73 million) advanced by Mahindra Group to Mahindra Susten will be repaid.

As a result of this transaction, Mahindra Group will receive an inflow of approximately Rs 1,300 crore (USD 165 million), he said.

Mahindra Group will deploy these funds, plus an additional amount of up to 1,750 crore rupees ($220 million), across the business and InvIT over the next seven years, it said.

During the same period, Ontario Teachers’ has pledged to deploy an additional amount of up to Rs 3,550 crore ($450 million) in the business and InvIT over the next seven years, it said. he also stated.

This transaction will enable Mahindra Susten to build a strong renewable energy business focused on solar power, hybrid power, integrated energy storage and 24-hour green power (“RTC”) power plants.

Puneet Renjhen, Group Board Member and Executive Vice President, Partnerships and Alliances, Mahindra Group, said in the statement, “The partnership with Ontario Teachers’ will enable the Mahindra Group to unlock value in the education sector. renewable energy through continued joint investment towards accelerated growth.”

Bruce Crane, Senior Managing Director, Asia-Pacific, Infrastructure and Natural Resources at Ontario Teachers’, said in the release, “This strategic partnership marks the beginning of what we hope will be a long-term and mutually beneficial relationship with the group. Mahindra.

Deepak Thakur, Managing Director and Chief Executive Officer, Mahindra Susten, said in the release, “This partnership with Ontario Teachers’ aligns with Mahindra Susten’s plan to significantly grow our green energy portfolio through solar PV. , wind and energy storage. This platform will leverage our proven development experience and in-depth knowledge of the Indian energy market.”

Mahindra Susten is the renewable energy platform of the Mahindra Group, which includes one of the main engineering, procurement and construction (“EPC”) activities of renewable energy (built capacity of more than 4 GWp ), an Independent Power Producer (“IPP”) company with approximately 1.54 GWp of operational solar power plants spread across several states in India and plan to have a significant solar development pipeline.

The Ontario Teachers’ Pension Board is a global investor with net assets of C$242.5 billion (in Canadian dollars) as of June 30

CES Energy Solutions Corp. (TSE:CEU) Announces Quarterly Dividend of $0.02

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CES Energy Solutions Corp.  (TSE:CEU) Announces Quarterly Dividend of $0.02

CES Energy Solutions Corp. (TSE:CEU – Get Rating) announced a quarterly dividend on Thursday, September 15, Zacks reports. Shareholders of record on Friday, September 30 will receive a dividend of 0.016 per share on Friday, October 14. This represents a dividend of $0.06 on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Wednesday, September 28.

CES Energy Solutions shares fall 5.2%

Shares of TSE:CEU opened at C$2.39 on Friday. The stock has a market capitalization of C$612.50 million and a P/E ratio of 8.85. CES Energy Solutions has a 1-year low of CA$1.36 and a 1-year high of CA$3.11. The stock has a 50-day simple moving average of C$2.50 and a 200-day simple moving average of C$2.53. The company has a debt ratio of 98.89, a quick ratio of 1.68 and a current ratio of 3.35.

Insider Activity at CES Energy Solutions

In other news, director Philip Scherman bought 42,000 shares of the company in a deal that took place on Monday, June 20. The shares were acquired at an average cost of CA$2.35 per share, with a total value of CA$98,700.00. As a result of the transaction, the administrator now owns 341,069 shares of the company, valued at approximately C$801,512.15. Over the past ninety days, insiders have purchased 62,972 shares of the company valued at $152,988.

A Wall Street analyst gives his opinion

A number of stock analysts have weighed in on the company. ATB Capital raised its price target on CES Energy Solutions from C$4.25 to C$5.25 in a Friday, August 12 report. Stifel Nicolaus raised his price target on CES Energy Solutions from C$3.75 to C$4.50 in a Friday, August 12 report. National Bank Financial upgraded CES Energy Solutions from a “sector performance overweight” rating to an “outperformance overweight” rating in a report released Monday, July 4. National Bankshares raised its price target on CES Energy Solutions from C$3.50 to C$3.70 and gave the stock an “outperform” rating in a Monday, August 15 report. Finally, BMO Capital Markets raised its target price on CES Energy Solutions from C$3.50 to C$4.00 in a Friday, August 12 research note. Six equity research analysts gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average “buy” rating and an average target price of C$4.28.

CES Energy Solutions Company Profile

(Get an assessment)

CES Energy Solutions Corp., together with its subsidiaries, designs, implements and manufactures advanced consumable fluids and specialty chemicals. It provides solutions for drill bits, completion and stimulation points, wellheads and pumping jacks, and pipelines and intermediates markets. The Company’s solutions include corrosion inhibitors, demulsifiers, H2S scavengers, paraffin control products, surfactants, scale inhibitors, biocides and other specialty products.

Read more

Dividend history for CES Energy Solutions (TSE: CEU)

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This 1,373 km long submarine cable will bring ‘green energy’ from Egypt to the European power grid

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Greece is embarking on one of the most ambitious energy projects in Europe by connecting its electricity network to egypt.

An undersea cable will carry 3,000 MW of electricity – enough to power up to 450,000 homes – and link northern Egypt directly to Attica in Greece.

The project is led by the Copelouzos group, whose management met with Egyptian leaders last week to speed up the process.

Why is Europe looking elsewhere for cheap green energy?

As oil and gas prices rise, Europe faces a threat energy crisis. Russia was the bloc’s largest oil and gas supplier in 2021, supplying around 40% of its total energy needs.

But, after the invasion of Ukraine and the imposition of sanctions, energy price have increased, leaving some nations unsure of their supplies this winter.

“By bringing 3,000 MW of clean energy to Europe via Greece, we are helping Europe wean itself off Russian fossil fuels and natural gas,” says Ioannis Karydas, CEO of Copelouzos Group.

“In addition, the green energy we will transport will be much cheaper than today’s energy prices. You understand that this will help Greek and European consumers.”

The “GREGY Interconnector” is expected to cost €3.5 billion – it has been labeled a Project of Common Interest (PCI) by the European Union. This means that it is identified as a key priority for the interconnection of the infrastructures of the energy system of the European Union.

It will transport clean electricity generated in Egypt and other African countries via submarine cables via wind and solar parks. The total length of the project is an incredible 1373 km.

How will energy be used in Europe?

“About a third will be consumed in Greece, and mainly in Greek industries, another third will be exported to neighboring European countries and the rest will be used for the production of green hydrogen“, says Karydas.

“The majority of this hydrogen will also be exported to neighboring European countries.”

Egypt has already completed interconnection projects with Libya, Sudan and Saudi Arabia and aspires to become a major energy hub for southeastern Europe. The project is expected to be completed in 7 to 8 years.

Watch the video above to see how Egypt plans to bring green energy to Europe.

Dominion Energy helps family create ‘forever home’ with free repairs – NBC4 Washington

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A family in need in Fairfax County, Virginia received thousands of dollars in free home repairs from Dominion Energy Home Assistance.

Ron and Lisa Suddarth have not had air conditioning or heating in their home for over four years – unable to pay for a new HVAC system after battling health issues and job loss. The Suddarths applied for Dominion Energy’s EnergyShare program after facing extreme temperatures while living in a poorly weatherized house.

“Because you reach a point where you have to do it or else you could lose it all,” Suddarth said.

With the help of EnergyShare, the Suddarths have moved beyond that point, with weatherization and upgrades to the front yard, fences, back deck and attic. From now on, their home will be more energy efficient and better for their health.

Dominion Energy says the program has helped 21,000 households since its inception 40 years ago. EnergyShare is dedicated to helping customers with bill payment assistance, energy efficiency upgrades and energy conservation education, greatly helping the Fairfax community.

The program is for everyone, regardless of income level, said Utibe Bassey, vice president of customer experience at Dominion Energy. As long as there is a need, EnergyShare can help.

“It’s for the comfort and the health and safety aspect that they also get out of these programs,” said Dimh Tran of Tran Energy Services.

Suddarth expressed her gratitude that she and her husband can now live in a properly weatherized house.

“Even with all the health issues that I’m dealing with, with my wife and everything, we’re together, we’re together forever,” Suddarth said.

Virginia customers can call 211 or visit 211virginia.org to be referred to a local EnergyShare agency.

Well Testing Services Market Grows 6.2% CAGR to Reach US$10.97 Billion by 2030: Polaris Market Research

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The Global well testing services market the size is expected to reach $10.97 billion by 2030 according to a new study by Polaris Market Research.

The main drivers for the expansion of the market are the increasing attention paid to unconventional oil and gas deposits and the increase in investments in their discovery. Global industrial demand is also increasing due to ongoing technological advancements to extract unconventional fuels, increased research and development spending, and increased production of unconventional oil and gas.

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Along with the growing need for fossil fuels to increase fuel production, the increase in offshore exploration and production operations also provides a variety of growth opportunities for the company over the expected years. The service-based, real-time testing services segment is now dominating the global market and is expected to continue to do so during the forecast period.

The growth of the segment can be attributed to the fact that it helps monitor data and trends as the trader does. The segment offers real-time decisions that facilitate a safe flow of operations to confirm data proficiency, optimal resource utilization, and maintain data quality.

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While the surface segment exhibits the highest CAGR over the estimated period owing to reduction in production costs and optimization of operations. Moreover, increasing investment in R&D activities by major vendors is further accelerating the growth of the segment over the forecast period.

One of the main drivers of industry growth is the growing number of oilfield discoveries. To overcome several difficulties in producing hydrocarbons in the oil and gas sector at a competitive price, several market players are focusing on making discoveries in some of the current areas. Major oil and gas companies are spending heavily to generate significant discoveries onshore and offshore. By the end of 2019, there will be approximately 1,733.9 billion barrels of proven oil reserves that have not yet been exploited, according to BP’s 2020 Statistical Review.

Main Key Players

Market players such as National Energy Services Reunited, Edge Drilling, EXALO Drilling SA, Greene’s Energy Group, Halliburton, Weatherford, Oilserv, Schlumberger Limited, SGS SA, Stuart Wells Limited, Baker Hughes, EXPRO Group, Tetra Technologies, Inc., TechnipFMC, and Wellmax are some of the major players operating in the global market.

For example, in March 2021, Expro Group, an international energy services company, announced that the company had signed an all-stock agreement to merge with Frank’s International NV – a global oilfield installation company, to create a major supplier full-cycle services.

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Polaris market research has segmented the Well Testing Services market report on the basis of Services, Application, Well Type, Stages and Region:

Well Testing Services, Services Outlook (Revenue – USD Billion, 2018 – 2030)

  • Downhole testing
  • Surface tests
  • Reservoir sampling
  • Real-time testing
  • Hydraulic fracturing method

Well Testing Services, Application Outlook (Revenue – USD Billion, 2018 – 2030)

Well Testing Services, Well Type Outlook (Revenue – USD Billion, 2018 – 2030)

Well Testing Services, Milestone Outlook (Revenue – USD Billion, 2018 – 2030)

  • Exploration
  • Evaluation and development
  • Production

About Us:

Polaris Market Research is a global market research and consulting organization. We provide an unparalleled nature of offering to our customers located all over the world across industry verticals. Polaris Market Research has expertise in providing in-depth market intelligence as well as market insights to our clients spread across various businesses. At Polaris, we are obligated to serve our diverse customer base in Medical Services, Healthcare, Innovation, Next Generation Technology, Semiconductor, Chemical, Automotive, Aerospace and defense, among various companies present in the world.

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Ethereum blockchain drastically reduces power consumption with ‘Merge’ software upgrade

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Representation of Ethereum, with its native cryptocurrency Ether, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

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LONDON, Sept 15 (Reuters) – The Ethereum blockchain has undergone a major software update, drastically reducing its power consumption, its inventor and co-founder tweeted on Thursday.

The new system will use 99.95% less energy, according to the Ethereum Foundation. The upgrade, which changes how transactions occur and how ether tokens are created, could give Ethereum a major advantage as it seeks to outperform rival blockchain bitcoin. Read more

“We believe this is an important moment that will lead to ETH outperforming the broader crypto market for some time to come,” said Richard Usher, head of over-the-counter trading. at BCB Group, a London-based crypto company.

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Most blockchains consume large amounts of energy and have been criticized by environmentalists and some investors. Prior to the software upgrade, known as Merge, a single Ethereum transaction used as much energy as an average US household in a week, according to researcher Digiconomist.

With the software update, Ethereum has moved from a “proof of work” system, where power-hungry computers validate transactions by solving complex mathematical problems, to a “proof of stake” system, where individuals and businesses act as validators, using their ether as collateral, to earn newly minted tokens. Read more

“Happy merging everyone,” inventor Vitalik Buterin said in a tweet. “This is a great moment for the Ethereum ecosystem.”

Ethereum was born in 2013. Proponents say it will form the backbone of much of the widely hyped but still unrealized “Web3” vision of an internet where crypto technology takes center stage in apps and commerce.

It powers platforms involving crypto offshoots such as decentralized finance and non-fungible tokens, and is used in so-called “smart contracts” – blockchain-based conventions believed to have use in traditional finance and other industries.

Cryptocurrency Ether was little changed at $1,608 at 0857 GMT.

Investors bet before Merge that the upgrade would increase the price of the ether token. Ether has gained around 85% from its June lows, outperforming larger rival bitcoin’s 15% gain. Overall, however, cryptocurrencies have suffered this year, with bitcoin and ether both down around 55%.

Ether took market share from bitcoin before the merger and now accounts for around a fifth of the $1 trillion crypto market. Bitcoin’s share fell to 39.1% from this year’s peak of 47.5% in mid-June.

Besides power consumption, high costs and slow transaction times are the main issues facing the Ethereum network. Merge will not immediately address these issues, although some analysts say it lays the groundwork for Ethereum expansion.

Strengthening Ethereum’s environmental, social, and corporate governance (ESG) credentials “would be good for regulatory-focused institutions that want to start exploring the Ethereum ecosystem,” said Marc Arjoon, Ethereum Research Analyst at Digital Asset Manager CoinShares.

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Reporting by Maria Ponnezhath in Bengaluru and Elizabeth Howcroft in London; edited by Tom Wilson and Edwina Gibbs

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Elizabeth Howcroft

Thomson Reuters

Reports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and money that generates “Web3”.

European Commission proposes emergency energy measures

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European Commission President Ursula von der Leyen speaks during a press conference in Brussels, Belgium, July 20, 2022. [Photo/Xinhua]

BRUSSELS — The European Commission on Wednesday proposed a series of new measures to mitigate the effect of soaring energy and electricity prices.

The measures were outlined by Commission President Ursula von der Leyen in her annual State of the European Union (EU) address to the European Parliament in Strasbourg, France.

Under the plan, which still needs to be approved by member states, the EU would tax the profits of non-gas power producers and force those companies to pay a “solidarity contribution” on their 2022 profits.

“In these times, profits must be shared,” she said, “and channeled to those who need it most. Our proposal will raise more than €140 billion (US$140 billion) for Member States to cushion the blow directly”.

EU energy companies are also facing serious liquidity problems in the electricity futures markets, putting the functioning of the energy system at risk.

“We will work with market regulators to mitigate these issues by changing collateral rules – and taking action to limit intra-day price volatility. And we will change the temporary state aid framework in October to allow the provision of state guarantees, while maintaining a level playing field,” she said.

Gas prices have increased more than 10 times compared to before the pandemic, according to von der Leyen.

Looking ahead, von der Leyen said the EU plans to reform its electricity market by decoupling “the dominant influence of gas on the price of electricity”.

The Commission is also proposing the creation of a new European hydrogen bank with a budget of €3 billion from the European Innovation Fund.

The Eiffel Tower darkens amid the energy crisis – it’s not the only one

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Like other iconic landmarks, the Eiffel Tower in Paris, France, will turn off lights early to save energy amid Europe’s energy crisis, the mayor said.

Photo by Stephen Leonardi via Unsplash

Paris’ iconic landmark – the Eiffel Tower – will begin to darken earlier, the city’s mayor has announced.

Usually, the site is lit after dark until 1 a.m., according to the Eiffel Tower website. The warm, golden glow of more than 20,000 bulbs flickers for five minutes every hour until the final 10 minutes at 1 a.m., the website says.

Not this winter.

The French city’s mayor, Anne Hidalgo, announced a series of “sobriety” measures aimed at saving energy, ABC News reported.

That of the Eiffel Tower light show will end at 11:45 p.m., Hidalgo said in a series of Tweets on Tuesday, September 13. Other municipal buildings will turn off their exterior lights at 10 p.m., but street lights will remain, she said.

France, like much of Europe, is grappling with an energy crisis resulting from the ongoing war in Ukraine which has resulted in a restriction of electricity supplies from Russia and an increase in energy costs. , reported The Guardian.

Berlin, Germany, announced a similar energy-saving initiative on July 30, DW reported. The city turned off the exterior lights of 200 buildings and monuments, a total of 1,400 floodlights, AFP reported.

AFP video footage from August 15 showed darkness blanketing the Victory Column and Berlin Cathedral.

Across the Eurasian landmass, the skyline of Shanghai, China darkened for two nights, Bloomberg reported on Aug. 23. and the Shanghai Tower without their usual colorful display, the outlet reported.

The power cuts came as China’s southwestern region grappled with a drought and a heat wave that led to a drop in its hydroelectric power supply, Reuters reported.

Google Translate was used to translate Anne Hidalgo’s tweets.

Aspen Pflughoeft covers real-time news for McClatchy. She graduated from Minerva University where she studied communications, history and international politics. Previously, she reported for Deseret News.

Energy as a service market worth $105.6 billion by 2027

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CHICAGO, September 14, 2022 /PRNewswire/ — Energy Market as a Service should go from $64.7 billion in 2022 at $105.6 billion by 2027, at a CAGR of 10.3% according to a new report from MarketsandMarkets™. The increase in distributed energy resources, new revenue streams for utilities, the availability of federal and state tax benefits for energy efficiency projects, and the lower cost of renewable energy generation and storage solutions drive demand for energy as a service globally. Due to advances in manufacturing and various technological improvements, the costs of various renewable energy and storage systems such as photovoltaic solar panels, fuel cells, grid-based energy storage, especially batteries, and combined heat and power generation have declined significantly in recent times. The falling cost of solar photovoltaic is encouraging users to install these resources to generate electricity. In addition, governments around the world are reviewing energy policies and providing incentives that encourage and facilitate the shift from traditional power generation techniques to power generation from clean and renewable forms of energy, including wind and solar. This is evident from the huge investments in the renewable energy sector over the past decade.

Utilities therefore offer sophisticated solutions, which include technological and financial support to reduce energy consumption and improve energy efficiency, thus creating new sources of income for themselves. They started providing solutions that combine power supply, efficiency and load balancing. Utilities also offer long-term Energy Service Performance Contracts (ESPCs), Utility Energy Conservation Contracts (USPCs), and Power Purchase Agreements (PPAs) which are chargeable or similar to a performance contract in which the costs are covered. through energy savings. These contracts help utilities to sustainably secure end-user revenues.

The energy-as-a-service market includes prominent Tier I and Tier II manufacturers like ENGIE, Enel X, Schneider Electricity, Ameresco, and Siemens. These companies are spread over Europe, North America, Asia Pacific, and other regions. Various services are offered by these players, for example energy efficiency solutions, energy infrastructure, energy intelligence software, operation and maintenance services and many others. These services are used to increase the efficiency of the end user industry and the growth of these industries is also expected to drive the growth of the energy as a service market.

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The energy supply services segment is expected to dominate the energy-as-a-service market, by type, over the forecast period.

Energy supply services refer to the idea that a building’s energy needs are met by an outside company, usually utilities or service providers. Today’s energy markets are more complex than they were in the past. Traditionally, utilities provided electricity to a building at a time-based rate, and there was little a building owner could do to change their energy overhead. In addition, energy supply services protect end users from network outages and extreme weather conditions that would threaten the operations of traditional commercial and industrial entities connected to the network. In energy as a service operation, energy supply services are increasingly provided through energy service agreements (ESAs) which are performance-based contracts by which a supplier of services is committed to financing, developing and deploying renewable energy projects for customers without any upfront capital expenditure. In addition, consumers have no responsibility for the maintenance and upgrade of the equipment.

The commercial segment is expected to be the largest and fastest growing end-user market during the forecast period.

The commercial segment includes establishments such as healthcare institutions, educational institutions, airports, data centers, recreation centers, warehouses, hotels and others. Global energy consumption in buildings has decoupled from floor space growth and economic performance. This shows that consumers and businesses can use energy services more efficiently and at a better price. For example, Edison won an energy performance contract with the Putnam Valley Central School District to significantly improve the energy efficiency of buildings and infrastructure in the district and slow the rate of escalating energy costs.

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The North America likely to emerge as the largest energy-as-a-service market

Energy as a service represents the move from customer-owned equipment to a model in which the service provider retains ownership and the customer pays for the services provided by the equipment. The main national markets in the regions have also been studied in this section. North America is expected to lead the energy-as-a-service market with major utilities in the region looking to diversify their revenue streams with major transformations driven by decarbonization, decentralization, and digitalization. In addition, as regions demand cleaner and more sustainable energy, energy efficiency in North America is set to integrate Distributed Energy Resources (DER) to help ensure grid reliability, meet state and provincial efficiency requirements, and help commercial and industrial users meet their emission reduction targets and goals.

The Energy Market as a Service is dominated by major players that have a broad regional presence. Some of the major players in the energy-as-a-service market are ENGIE (France), Enel X (Italy), Schneider Electric (France), Ameresco (USA), Siemens (France), General Electric (USA), Veolia (France)Honeywell (USA), Centrica (Netherlands), Alpiq (Swiss), WGL Energy (USA), Orsted (Denmark), Bernhard Energy Solutions (United States).

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Browse adjacent markets: Energy and electricity market Research reports and advice

Related reports:

Energy Management Systems Market by Component, Type (Home Energy Management Systems, Building Energy Management Systems, Industrial Energy Management Systems), Deployment, End-User Industry, and Region – Global Forecasts through 2027

Distributed Energy Resource Management System Market By Application (Solar PV, Wind, Energy Storage, CHP, EV Charging), Software (Analytics, Management & Control, VPP), End User (Industrial, Commercial, Residential) & Region – Global Forecast to 2026

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U.S. Department of Energy Office of Lending Programs Invites Eos

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EDISON, NJ, Sept. 13, 2022 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient and sustainable energy storage systems based on Zinc, today announced that it has been invited to the due diligence stage of the U.S. Department of Energy’s (“DOE”) Innovative Clean Energy Loan Guarantee Program under the call for tenders on renewable energies and energy efficiency.

The DOE’s Lending Programs Office (“LPO”) invitation to Eos to undertake full due diligence represents a significant step forward in the LPO’s assessment of Eos’ loan application. This step includes LPO performing its due diligence of Eos’ plan to expand manufacturing to support 3 GWh of production capacity. During this stage, Eos and LPO will work on the negotiation of a Term Sheet containing the main conditions of the loan. This work provides the LPO with the basis to advance the loan to conditional commitment. However, the DOE LPO’s invitation to perform due diligence does not guarantee that the DOE will offer a conditional commitment or obtain a loan to Eos under the DOE LPO.

As previously reported, Eos’ loan request supports the company’s strategy to add domestic manufacturing capabilities for the production of its Znyth™ long-duration energy storage systems. Eos’ technology enables utilities, independent power producers and network operators, including independent system operators and regional transmission operators, to more quickly integrate intermittent renewable power generation into the network and will increase the reliability, safety and security of the national electricity grid.

The Company’s backlog stands at $457 million at the end of the second quarter, representing 1.9 GWh of storage expected to be delivered over the next few years. The market opportunity for alternative chemical storage is growing due to increasing supply chain constraints for lithium-ion batteries. In addition, tax credits and other supportive policies contained in recently passed inflation-reduction legislation appear poised to invigorate the market for U.S. cleantech companies and spur domestic investment in manufacturing. Eos’ pipeline of opportunities is approximately 27 GWh with a potential value of $7 billion.

“We are very pleased to enter into the full due diligence process with the LPO,” said Joe Mastrangelo, CEO of Eos. “Our potential partnership with the DOE would help Eos capture one of the fastest growing opportunities in the clean energy and energy transition sectors. Eos is at the forefront of establishing US-based manufacturing with a focus on developing an American supply chain, which today is 80% American and is expected to reach 90% by the end of the year.

Eos employment has grown significantly over the past two years, from 35 employees to 330 today in Edison, New Jersey, and Turtle Creek, Pennsylvania – areas that have played a pivotal role in the development of the electricity network of the last century. As part of this effort, Eos has developed a clean energy careers program designed to ensure the company has the necessary workforce in the Mon Valley as it expands manufacturing . The company’s manufacturing workforce in Turtle Creek is 50 percent minority, 20 percent veteran, and 20 percent female. The planned manufacturing expansion that would be funded by the DOE loan and other sources of capital would add about 500 additional clean energy careers and, according to a study by the Allegheny Conference on Community Development commissioned by Eos, would support 1,500 jobs in southwestern Pennsylvania. direct, indirect and induced basis. The study also indicates that the planned expansion could contribute more than $392 million to regional economic output and more than $169 million to southwestern Pennsylvania’s gross regional product.

About Eos
Eos Energy Enterprises, Inc. is accelerating the shift to clean energy with positively ingenious solutions that are transforming the way the world stores energy. Our breakthrough Znyth The aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. Safe, scalable, efficient, sustainable – and made in the USA. — it’s the heart of our innovative systems that today offer utility, industrial and commercial customers a proven and reliable energy storage alternative. Eos was founded in 2008 and is based in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

Forward-looking statements
This press release contains certain statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our our ability to obtain a loan from the Department of Energy LPO, or our intended use of proceeds from any loan facility provided by the US Department of Energy, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, ” possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not prospective. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: changes that adversely affect the business in which we engage; our ability to predict trends accurately; our ability to obtain conditional covenant or final loan approval from the Department of Energy; our ability to generate cash, repay debt and incur additional debt; our ability to develop efficient manufacturing processes at scale and accurately predict associated costs and efficiencies; fluctuations in our revenues and results of operations; competition from existing or new competitors; the non-conversion of the firm order backlog into sales; risks associated with security breaches in our computer systems; risks relating to legal proceedings or claims; risks associated with changes in federal, state or local laws; risks associated with potential regulatory compliance costs; risks associated with changes in US trade policies; risks resulting from the impact of global pandemics, including the novel coronavirus, Covid-19; and risks related to adverse changes in general economic conditions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties and factors, including those described in greater detail in Eos’ latest filings with the Securities and Exchange Commission, including Eos’ latest annual report. ‘Eos on Form 10-K. and subsequent reports on Forms 10-Q and 8-K. Further information about potential risks that could affect actual results will be included in subsequent periodic and current reports and other filings by Eos with the Securities and Exchange Commission from time to time. In addition, Eos operates in a highly competitive and rapidly changing environment, and new risks and uncertainties may emerge that could impact the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements and, except as required by law, Eos undertakes no obligation and does not intend to update or revise such forward-looking statements, whether whether as a result of new information, future events, or otherwise.

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Minto’s New North Oak Tower 3 Emphasizes Sustainable Living

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TORONTO—Minto Communities opened North Oak Tower 3, a new tower within a planned community in Oakville, Ontario.

Tower 3 is the newest addition to the Oakvillage community. It’s 20 stories with 239 units located in the Trafalgar area. The building was designed by BDP Quadrangle. The community is currently under construction with completion scheduled for 2027.

The building prioritizes access to nature and the outdoors, biophilic design, sustainability best practices and an amenity program to connect residents with their neighbors, a statement said.

Landscape architect NAK Design Strategies incorporated a landscaped boulevard running along Athabasca Pond to ensure residents have easy access to surrounding landscapes, including the pond, the municipal trail system, and connection to nearby commercial plazas.
North Oak Tower 3 will be connected to a geothermal system that serves the towers in this phase of the Oakvillage community.

Geothermal systems provide renewable heating and cooling by taking advantage of temperatures below the earth’s surface, a statement says, adding that it will also reduce fossil fuel use by up to 95%, protect residents from rising utility costs and does not need to be turned on or off seasonally. The North Oak Geo-exchange community energy system began in March and drilling for towers 4A and 4B is complete. Drilling for North Oak Tower 3 is expected to begin in fall 2023.

“Sustainability is an area that Minto Communities GTA will always prioritize and seek new and innovative practices to support,” said Carl Pawlowski, sustainability project manager at Minto Communities GTA, in a statement. “We are very pleased with the progress of our geothermal community energy system so far and are confident that it will benefit all future residents of North Oak Tower 3. We are also pursuing top third party energy efficiency certifications and goals like Certification Energy Star Multifamily so members of our community can trust our commitment to providing better homes.

Mike Collier visits Corpus Christi

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Collier took direct aim at Patrick for his “failure to fix the Texas power grid” after last year’s deadly winter storm.

CORPUS CHRISTI, Texas — Democratic candidate for Texas Lieutenant Governor Mike Collier was in Corpus Christi today.

Collier visited the Nueces County Courthouse while campaigning to overthrow Lieutenant Governor Dan Patrick.

Collier took direct aim at Patrick for his “failure to fix the Texas power grid” after last year’s deadly winter storm.

Collier also said Patrick bears the blame for Texans currently having to pay higher electric bills while constantly dealing with ERCOT’s energy conservation alerts.

RELATED: Republicans line up to endorse a Democrat in the race for lieutenant governor. Is this a canary in the coal mine for the Texas GOP?

“I’m traveling all over the state, excited to be in Corpus Christi, talking about how we’re fixing this damn network and we’re doing it urgently,” Patrick said.

Polling shows Collier, a former oil executive, is within striking distance of Patrick in what could be another close clash between the two.

RELATED: Dan Patrick vs. Mike Collier: Race for Texas Lt. Governor Heats Up

Meanwhile, Patrick is on his 131-city tour across Texas. So far he has visited 28 cities.

Coastal Bend is on the list of areas he will visit, but no date has been set at this time.

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Global changes are reshaping the risk landscape – report

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The COVID-19 pandemic and conflict in Ukraine have exacerbated de-globalization, creating concerns about supply chain resilience, energy and food security, according to a new report from the Swiss Re Institute.

Friend-shoring supply chains to allied countries and relocating production capacity domestically, investing in green energy and mitigating a food crisis will reshape the risk landscape and will likely stimulate increased investment in the real economy.

“Six months into the war in Ukraine, our world has changed dramatically,” said Jérôme Haegeli, Group Chief Economist at Swiss Re. “Triggered by war and the pandemic, we are moving from an interconnected world to a multipolar world facing disrupted supply chains, energy and food crises. Insurance is becoming even more vital to the economy, contributing to the financial stability of companies by covering supply chain risks.

“The industry can also facilitate transitions to a green economy by insuring and investing in renewable energy infrastructure, and by expanding agricultural insurance, it can contribute to global food security.”

Supply chain restructuring is expected to create investment in new infrastructure and production facilities, leading to increased demand for engineering insurance, Swiss Re said. The relocation is expected to generate an additional $30 billion in trade insurance premiums over the next five years, primarily through engineering, property and liability. Relocating friends would add $3 billion in premiums, Swiss Re said. Marine and commercial credit premiums would see a slight decline as global trade is expected to slow.

“As the risk landscape evolves, commercial property and casualty insurance will remain a pillar of resilience, for example by helping companies maintain financial stability as operating conditions change, providing solutions to help reducing cash flow volatility and stabilizing earnings during the realignment of supply chains,” said Gianfranco Lot, Head of Global Reinsurance at Swiss Re.

The effects of climate change have already underscored the importance of the green transition, and the Russian-Ukrainian war has added new urgency to the shift to renewable energy, Swiss Re said. Renewable energy involves complex risks that must be managed to avoid significant revenue losses.

“The insurance industry can play a key role in enabling the expansion of renewable energy by providing protection covers against the complex risks inherent in the construction and operation of renewable energy infrastructure,” said Swiss Re. .

Since renewable energy is only one part of the green transition, more investment in decarbonization is also needed if the world is to meet the Paris Agreement targets, Swiss Re said. to build all the renewable energy capacity they have targeted so far, the Swiss Re Institute estimates that these investments will generate additional energy sector premiums of $237 billion by 2035. However, the Transitioning to a green economy requires a global effort, and fragmentation due to geopolitical and security concerns could hamper the coordinated action needed.

Food prices have soared due to supply chain disruptions from the pandemic and war in Ukraine, Swiss Re said. next 30 years, global food security has become increasingly vital. Agricultural insurance can play a key role in helping farmers maintain income levels and continue farming even in the face of crop failure, Swiss Re said. Global agricultural insurance premiums are expected to reach $80 billion. by 2030, up from $46 billion in 2020.

Controversy hangs over sustainable ETFs

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ESG investing has taken a controversial turn in recent weeks, with some states taking aim at sustainable funds.

This month, Florida banned its $186 billion pension fund from investing based on ESG factors. And in Texas, the state comptroller accused ten financial companies of boycotting energy companies. The move could force some Texas government funds to sell shares of these companies.

BlackRock was among those named in the charge, although in a statement the company said it was not boycotting oil. But the change in sentiment has led to increased scrutiny of the composition of ESG funds.

“It’s actually relatively simple, we’re not boycotting energy companies,” Arne Noack, head of systemic investment solutions for the Americas for DWS, told Bob Pisani on CNBC’s “ETF Edge” on Wednesday.

DWS is a leading provider of ESG ETFs, including the MSCI USA ESG Leaders Equity ETF (USSG) and the S&P 500 ESG ETF (SNPE).

“[USSG and SNPE] hold between 4% and 5% of a stake in energy companies, which is in line with the S&P 500,” he added.

Noack said the USSG, for example, is largely sector-neutral relative to the benchmark MSCI USA, but only invests in companies that perform better than average from an ESG perspective.

Part of the politicization of sustainable funds stems from the question of what the products focus on and promote, and the factors taken into account when constructing them.

“ESG stands for Environmental, Social and Governance, and the focus has been on the ‘E’ part of it,” said Todd Rosenbluth, head of research at VettaFi, in an interview with “ETF Edge” on Wednesday. “If companies are too focused on climate change, and what’s happening to it.”

Rosenbluth explained that the strategies are widely diversified and evaluated based on 30 different sub-factors. Climate change is one of them, but also issues such as fair wage practices and gender diversity.

Some of the largest ESG funds have significant holdings in the energy sector. According to VettaFi, BlackRock ETFs ESGU and SUSA own 4.8% and 3.8% respectively in companies like Baker Hughes, Chevron, Exxon Mobil, Halliburton and Valero Energy. The weighting of energy stocks in these funds is in line with the S&P.

“So how can you favor ESG while still remaining exposed to these large-cap energy multinationals?” said Rosenbluth. “You can have both. These are broadly diversified products.”

The ESG industry is made up of 186 sustainable ETFs, according to VettaFi, representing 6% of all exchange-traded funds worth around $100 billion. This represents about 1.5% of the dollar value of the ETF business as a whole.

Although there have been efforts to standardize and codify what ESG means, the challenge remains how exactly to define the products.

“We’re talking about funds that have different goals that are all valid,” Mona Naqvi, global head of ESG capital markets strategy at S&P Global Sustainable1, said on CNBC’s “ETF Edge” on Wednesday. It just depends on the individual investor: some want to divest completely, that’s fine. Some want to engage companies to work with them to improve, that’s fine too. But I think painting all sustainable funds with the same brush and expecting the same results…is actually doing a disservice to the many different individual perspectives of investors and the choice we should be giving investors in a Free market.”

Another hot issue affecting the ESG industry is the greenwashing process. The term refers to when a company promotes a dubious green agenda by giving distorted impressions or misleading information about how its products are more environmentally friendly.

“I will not tell [greenwashing] is a big deal,” Noack said. “They outline the underlying methodology very clearly, and therefore make it very transparent to what extent ESG scores are used and not used.”

As an ETF fund manager, Noack said they have no discretion to deviate from the methodology and stick fully to the rules published in their prospectus.

“As a concept, it’s very easy for us all to agree on the definition [of greenwashing]Naqvi added. “But in practical terms, what does it mean and how do you know when you see it?”

Naqvi cited the example of oil majors included in low-carbon ESGs. What if the company diversifies and moves more renewable every year, she asked, or if it has more green to brown or gray revenue?

“We have problems defining ESG,” she said. “Defining greenwashing is even more difficult in many ways.”

SEC Chairman Gary Gensler has called for more clarity and specific rules regarding product labeling. Its proposed measures would prevent misleading or misleading statements by U.S. funds about their ESG qualifications and increase disclosure requirements.

“It’s a very reasonable request,” Noack explained. “It’s very much in our interest that our investors have a very clear understanding of what they’re investing in. Having standards that everyone has to adhere to, from my perspective, makes perfect sense.”

Strive recently launched its US Energy ETF (DRLL) in a bid to push back against what the company claimed was stakeholder capitalism by asset managers. The fund shows a performance close to the S&P Energy index at a higher cost.

According to Strive, the fund intends to use its shareholder engagement and proxy voting power to unlock the potential of the U.S. energy sector by rejecting the short-sighted political agendas it says have pushed companies under pressure. -invest in oil, natural gas and other forms of American energy. .

“Investors have a choice,” Rosenblum said. “If they care that their energy business is taking clean energy too far in their minds and they want to be able to be part of a strategy.”

But Rosenblum added that most investors don’t care how big companies like BlackRock vote on what to include in their funds, and that Strive is taking a more political slant to the issue.

“They call it capitalism in a different way,” he said. “This is an investment in an ETF and it should work out the way you want it to in the end.

The debate over whether the success of an ESG fund comes down to benefits or purpose remains, although they need not necessarily cancel each other out. While recent defensive moves by government entities and industry have presented a unique challenge to the future of sustainable funds, Naqvi stressed that the time horizon is critical.

“If you’re looking at a very short lead time, maybe some things seem more profitable,” she said. “But once you take that longer-term view, things like reputational considerations, potentially impending carbon taxes and pricing that make investing less profitable, those things matter.”

So is the sweltering heat finally over? Good news for Southern California – San Bernardino Sun

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Post-Tropical Cyclone Kay is nearly over with Southern California and when it dissipates, the region is expected to return to normal temperatures in September after nearly two weeks of extreme heat, meteorologists said Saturday, September 10.

The storm or what remains of it continues to bring the possibility of scattered showers in the afternoon and evening Sunday and Monday, with an even lower risk of thunderstorms, which will lessen as night falls , National Weather Service meteorologists said.

By Tuesday, temperatures will be back to normal, hovering in the low to mid-80s for inland areas and mid-70s along the coasts, they said.

“It’s about as normal as it gets after all this craziness,” said NWS meteorologist David Sweet.

Kay, transforming from a tropical storm, causes minor flooding and damage in Southern California

The post-tropical cyclone, which started out as a hurricane and downgraded to a tropical storm before transitioning to its current state, has brought much-needed relief to Southern California. The rain came after an extensive heatwave sent triple-digit temperatures and prompted the state’s energy network to issue Flex Alerts calling for energy conservation during peak hours for 10 days consecutive.

The storm brought heavy rain to Southern California from Friday evening through Saturday morning, with minor flooding, damage and some power outages. Nearly 29,000 customers in Los Angeles lost power early Saturday morning, but by Saturday afternoon crews had power restored about 16,000 of them.

In Orange County, Southern California, Edison data showed 285 residents of Garden Grove were left without power on Saturday night, after a power outage began Friday morning due to rain .

Orange County Fire Authority spokesman Greg Bradshaw said the agency did not have to respond to major emergencies due to weather conditions.

No temperature record was broken Saturday in Orange County, although a new precipitation record was set today in Anaheim at 0.28 inches, according to NWS meteorologist Brian Adams. Coastal locations also ended up being warmer than several inland areas of Orange County, he said, with Newport Beach hitting 83 degrees and Huntington Beach hitting 81.

No heat records were announced Saturday either in the Inland Empire or in the Los Angeles area. San Bernardino, for example, only reached 86 degrees. Van Nuys hit 82.

Temecula, meanwhile, received the most rain in inland areas: 0.39 inches.

The chance of rain and thunderstorms on Sunday will be highest in the Inland Empire mountain ranges, with the NWS predicting a 60% chance, meteorologist James Brotherton said.

Monday has a lower chance of precipitation and thunderstorms, he said. By Tuesday, the area should be dry for the rest of the week.

“Temperatures will remain fairly moderate through next week,” he said.

Low clouds and fog in the morning will be followed by partly cloudy skies with temperatures in the mid-70s to low-80s for most of Los Angeles County, Sweet said. Some places in the Inland Empire could hit the 90s, Brotherton said.

Morro Bay: Federal hearing discusses future of offshore wind

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The Energy and Mineral Resources Sub-Committee Hearing was held at the Morro Bay Community Center on Thursday, September 8, 2022.

[email protected]

San Luis Obispo County could see wind turbines floating off its coast in less than a decade if all goes according to plan, federal officials said this week.

Members of the United States Congress held an on-the-ground hearing at the Morro Bay Community Center on Thursday to highlight and discuss the work being done to get offshore wind turbines floating in the Pacific Ocean.

The Energy and Mineral Resources Sub-Committee of the Natural Resources Committee focused primarily on the proposed development off the coast of San Luis Obispo County, about 20 miles west of San Simeon and Cambria.

The so-called Morro Bay Wind Power Area is expected to generate 2.9 gigawatts of electricity at peak capacity if fully built.

The subcommittee also discussed a smaller but similar 1.6 gigawatt power development proposed offshore Humboldt Bay.

In attendance were U.S. Representatives Alan Lowenthal (D-Long Beach), Salud Carbajal (D-Santa Barbara), Jimmy Panetta (D-Carmel Valley), Connie Conway (R-Tulare), and Pete Stauber (R-Duluth, Minnesota). The subcommittee received testimony and posed questions to 14 witnesses divided into four panels.

Panelists included representatives from the United States Office of Ocean Energy Management, USA Department of Defense, California Energy Commission, California State Assembly, San Luis Obispo County Board of Supervisors, and Port of Long Beach.

Additionally, representatives from the offshore wind industry, tribes, economics, fisheries, local businesses, and unions served on the panels.

Doug Boren, BOEM Pacific Regional Directorwho spoke at the first panel and said the federal government was on track to hold a lease auction this fall.

“The goal is … to have these projects in the water by 2030,” Boren said of the proposed wind turbine development projects.

Assemblyman Jordan Cunningham told the hearing he was concerned about getting the turbines up the water so quickly, especially with the state’s goal of having 25 gigawatts of offshore wind capacity d 2045.

He noted that Senate Bill 846, which was recently signed into law by Gov. Gavin Newsom, created a streamlined licensing process to allow the Diablo Canyon nuclear plant to continue operating beyond its date. closure scheduled for 2025.

“I think the same approach could be used to generate renewable energy assets,” Cunningham said. “It’s an emergency, we need a reliable network. We need to decarbonize (and) achieve our goals.

During the hearing, lawmakers asked if San Luis Obispo County’s existing infrastructure could handle such offshore wind energy development.

Matthew Arms, director of environmental planning at the Port of Long Beach, said he is “looking closely at how the port can support offshore wind development.”

This could displace some or most offshore wind energy development activities – from building the turbines to receiving parts, maintenance activities, dispatching labor and more – from San Luis Obispo County to Los Angeles County.

Such a shift could hurt the economic potential provided by offshore wind power development, which local economic research group REACH said in a 2021 study could generate $262 million for the Central Coast.

Josh Boswell, REACH’s vice president of policy and economic development, told the hearing that his organization was working on a feasibility study to help determine if the Central Coast could support offshore wind energy development. This study should be published in the coming months, he said.

“The infrastructure options here look even more promising,” Boswell told lawmakers during the hearing.

Boswell added that “proximity matters” from a port to offshore wind energy development.

A port closer to offshore wind power development could mean fewer greenhouse gas emissions from shipping parts and workers, as well as less time in the water for large ships and others benefits, he said.

This infrastructure issue can be boiled down to a “grid” approach, Boswell noted, where several ports on the central coast provide some aspects of offshore wind power development.

During the hearing, Jeremiah O’Brien, vice president of the Morro Bay Commercial Fishermen’s Organization, said he was concerned about how the proposed development could potentially harm the fishing industry. the Peach.

“Mitigation is a desperate tool for existence and survival in the near future and the construction of these facilities will cause permanent damage to the commercial fishing industry on the coast,” O’Brien said. “There is no amount of money that will save (our) eventual destruction.”

Kourtney Vaccaro, senior offshore wind commissioner for the California Energy Commission, said her agency suggested BOEM increase some financial incentives for commercial wind energy developers to encourage engagement and mitigation. from the community.

The Energy Commission recommended that BOEM offer the winner a credit of up to 50% of the final auction price if they demonstrate certain commitments, including the creation and implementation of agreements communities that benefit businesses and ocean users impacted by offshore. development of wind energy.

“This recommendation reflects (…) the scale of investment needed to establish a new industry in a way that minimizes impacts, maximizes benefits and results in the generation of renewable energy (which) provides affordable energy to our taxpayers and ensures a fair return to the United States,” Vaccaro said during Thursday’s hearing.

The hearing lasted nearly four hours Thursday without any opportunity for public comment.

BOEM is still conducting an environmental assessment analyzing the potential impacts the site surveys could have on the Morro Bay wind energy area.

This must be completed before a final sale notice is issued outlining how the lease sale will be conducted and subsequent requirements for the turbine companies.

To date, BOEM has held 10 competitive lease sales and issued 25 active commercial wind leases in the Atlantic Ocean, from Massachusetts to North Carolina.

Morro Bay and Humboldt lease sales will be the first in the Pacific region.

San Luis Obispo Tribune Related Stories

Mackenzie Shuman writes primarily about Cal Poly, SLO County education, and the environment for The Tribune. She is from Monument, Colorado and graduated from the Walter Cronkite School of Journalism and Mass Communication at Arizona State University in May 2020. When not writing, Mackenzie spends time outdoors to hiking, running and rock climbing.

Odyssey Energy Solutions raises $5 million

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Odyssey Energy Solutions Inc., a Boulder-based renewable energy investment platform, closed a $5.34 million fundraising round following a $7.22 million raise in July.

The investment round was led by Equal Ventures, with participation from Twelve Below, Abstract Ventures, Founder Collective and MCJ Collective.

OES facilitates the financing and development of off-grid distributed energy projects that address rural energy poverty in developing countries.

Distributed renewable energy, or DRE, comes from sources close to the point of electricity use – batteries or solar panels, for example – rather than centralized and often distant sources such as power plants.

“The DRE market is fragmented, lacking the data and standardization necessary for large-scale investments,” OES CEO Emily McAteer said in a statement. “By solving core frictions in a single platform, our solution provides the tools to build investable portfolios and truly unlock scale.”

Odyssey highlights as an example of a project successfully funded through the company’s platform the Nigeria Electrification Project, a $550 million initiative of the Federal Government of Nigeria funded by the World Bank and the African Development Bank .

“We see the energy transition as one of the most important (and most difficult) opportunities of our lifetime. Emerging markets represent one of the most economically and environmentally impactful areas to address challenges, but have so far been hampered by access to technology and capital,” Equal Ventures General Partner Rick Zullo said in a statement. “We are excited to partner with this top-notch team to accelerate the global energy transition in a way no one else has done before.”

In 2020, Odyssey Energy Solutions won the Keeling Curve Prize for Finance, which recognizes companies working to reduce global greenhouse gas emissions.

This article was first published by BizWest, an independent news agency, and is published under a license agreement. © 2022 BizWestMedia LLC.

The state is back in Energy for Good: Elements by Liam Denning

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Welcome to Elements, Bloomberg’s daily energy and commodities newsletter. EU energy ministers are meeting in Brussels to hammer out a plan to get the continent through winter. This is another example of growing state intervention in energy markets. In today’s take, Bloomberg Opinion’s Liam Denning explains why we should get used to it. If you would like to receive this email straight to your inbox, you can do so here.

Taken today: state energy

Britannia Unchained’s most high-profile co-writer finds himself trapped in a bear hug. Faced with an energy crisis intensified by Russia’s invasion of Ukraine, new British Prime Minister Liz Truss ditched her 2012 book laissez-faire for a massive state program to cap bills.

As my colleague Javier Blas writes today, the package has its flaws, but perhaps the Prime Minister shouldn’t feel too bad about the direction of the trip – one of his predecessors identified there has long been the most serious challenge of any government: “events”.

Moscow has launched an energy war against Europe and wars tend to require drastic measures from the powers that be rather than the invisible hand. Letting the gas market price households to demand destruction — read: leave them dark and freezing — could fuel a backlash in democracies that the Kremlin would welcome. Truss knows an earlier winter of discontent brought his icon Margaret Thatcher to 10 Downing Street, but a new one could mean his own swift departure.

Additionally, Truss’ actions match the energetic spirit of the intervention. There are the demands of Russia’s war, generating sanctions, as well as measures to deal with their consequences. European officials, having seen energy deregulation crumble in the face of Russian hostility, are meeting on Friday to discuss a panoply of mandates, including possible windfall energy taxes.

Another chronic challenge, climate change, has also attracted a growing thicket of subsidies and mandates, which tend to be politically easier than pure carbon pricing. Russia’s war has also realigned decarbonization with national security in a way we haven’t seen since fears of peak oil supplies coincided with the War on Terror more than a decade ago. year.

Meanwhile, efforts to contain the 2008 financial crisis and the pandemic have reaffirmed governments as front-runners in ways not seen in a generation. People are looking for stability. The adjacent backlash against globalization is now also directing energy towards state priorities, as with the domestic content contingencies on clean technology subsidies in recently passed climate legislation in the United States.

An important reaction to the oil crises of the 1970s was the promotion of liquid markets to capture the pricing power of opaque oligopolies like OPEC. Half a century later, against a backdrop of renewed turbulence, global energy appears to be moving in a different direction.

–Liam Denning, Bloomberg Opinion

In a new report, the International Energy Agency finds that the industry employs around 65 million people worldwide, 24 million of them in end-use sectors such as vehicle manufacturing. Employment in clean technologies and the decarbonization of energy systems is growing rapidly and already accounts for half of the wage bill.

The European Union is rolling out sweeping plans to rein in soaring energy prices and keep the lights on. Ministers meeting on Friday need to find solutions that can be applied across the bloc and still tailored to each of the 27 member states’ national economies and power systems, which are powered by different energy sources. Liz Truss’ hugely expensive energy bailout is a risky one-way gamble that does nothing to address the need to reduce energy demand during a winter of limited supply, writes Bloomberg Opinion’s Javier Blas. global agricultural markets and exacerbate food inflation and hunger.

California faces the dual threat of power outages from an overwhelmed grid as well as the risk of wildfires as a punishing heat wave continues to wreak havoc on the state’s power system.

The rapid fall of the yuan adds to the litany of challenges facing global commodity prices. Since China generally buys raw materials in dollars, the weakening yuan increases costs for importers, depressing demand and forcing prices lower.

• What does the current energy crisis centered on the Russian invasion of Ukraine mean for the energy transition? What will energy geopolitics look like in a decarbonizing world? Jason Bordoff of the Columbia Climate School and Meghan O’Sullivan of the Harvard Kennedy School appear on a recent Foreign Affairs podcast.

• Robinson Meyer of The Atlantic looks at a new study detailing decades of climate science denial in another sector of the energy industry: utilities.

• Simon Fraser University’s Geoff Mann discusses green growth and “degrowth” in this London Review of Books podcast.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Liam Denning is a Bloomberg Opinion columnist covering energy and commodities. A former investment banker, he was editor of the Heard on the Street section of the Wall Street Journal and a reporter for the Lex section of the Financial Times.

More stories like this are available at bloomberg.com/opinion

Blackouts from London to LA are the new normal

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  • Climate change and soaring energy prices could make widespread blackouts more common, even in rich countries.
  • Californians narrowly avoided power outages across the state, and war-affected Britons in Ukraine will soon pay almost double for electricity.
  • As energy costs soar, a new era of grid outages and instability looms.

Stock up on batteries, candles and non-perishable snacks. Breakdowns happen.

For the first time in decades, the Western world is bracing for widespread and continued energy shortages. The US, UK and EU have all been squeezed by Russia’s invasion of Ukraine, soaring electricity and fuel costs and record heat waves. With fall fast approaching, the worst of the energy tension is likely yet to come.

Even rich countries will not be spared, at least without a general policy change and an overhaul of the private sector. Add in the economic costs and the extreme health risks that come with it, and you’re in a very tough spot.

In California, this will materialize in outage warnings and restrictions on your air conditioning. Then, in the years to come, Texans, Illinois and Missourians will join their West Coast peers in suffering amid sweltering heat and blackouts.

And across Europe and the UK, residents unaccustomed to heat waves will face skyrocketing energy bills or dangerously hot summers – a situation made worse by their reliance on gas Russian, the stream of which was essentially cut off entirely.

In the United States, climate change risks decades of “extreme danger”

Amid record temperatures on the West Coast on Tuesday afternoon, California grid operator ISO urged residents to limit their energy use and warned that power outages could be coming.

REDIT SCREENSHOT

A screenshot posted to Reddit of California’s energy alert.

Reddit user u/ZachTF



SMS alert worked. Emergency precautions were lifted at 8:00 p.m. PT without the need for widespread outages. The utility added that conserving residents’ energy “plays a big role” in bolstering grid reliability.

The relief was short-lived. Just 15 hours later, the ISO issued another alert calling on residents to use less energy throughout the afternoon. Californians have been encouraged to avoid using major appliances, unplug unused electronics and set their thermostats to at least 78 degrees.

“I can’t keep doing this,” said Twitter user @sdfashionista3 wrote in response to ISO on Thursday morning. “I’ve been in San Diego all my life, I’ve never seen the temperature so high at night, even during a Santa Ana.”

And while Tuesday’s ISO alert staved off power outages, more than 50,000 Californians experienced some form of power outage this afternoon, according to data from poweroutage.us.

The strain on the California power grid can be directly attributed to climate change. Average temperatures have risen faster than residents’ heat tolerance, meaning Californians are running their air conditioning much longer than just a few years ago. Yet utility companies and regulators haven’t beefed up the power grid accordingly, and growing demand for electricity has pushed that infrastructure to the limit.

“Fossil fuel-based electricity has always been considered the most reliable,” Romany Webb, associate fellow at Columbia Law School and senior fellow at the Sabin Center for Climate Change Law, told Insider. “But the combination of a shorter and more expensive gas supply, combined with these climate impacts, underscores that this is really no longer the case.”

The alerts, while helpful on Tuesday, underscore the looming threat to California and other states with warmer climates. Around 8 million Americans are already expected to experience temperatures above 125 degrees in 2022, levels considered “extremely dangerous”, according to the National Weather Service. That number is expected to rise to 107 million people by 2053 as climate change drives ever-higher temperatures, according to a new study by the First Street Foundation.

California will not be alone. All of Illinois and Missouri are expected to see 125 degree days by 2053, according to the foundation. Parts of 23 other states will land in the belt.

Without massive investment in overhauling the country’s energy grid, such heat waves could knock out power in states for days. This endangers millions of people who cannot afford to cool themselves with a generator or a swimming pool. A lack of electricity will also lead to widespread food spoilage when freezers and refrigerators shut down.

First Street Foundation

Source: First Street Foundation

First Street Foundation


Countless business owners will be forced to close shop, and those that remain open won’t get much traffic as Americans focus on battling the heat.

Americans who need motorized medical devices will be in the most immediate danger, especially since power outages can strike at any time.

“If we don’t accelerate our action to mitigate climate change and prepare for the climate change that’s already happening, we’re likely to see more of these outages and have a less reliable grid,” Webb said.

Decoupling Europe from Russian energy presents an impossible choice

The EU and UK energy problem is much more related to their dependence on Russia. While the United States can largely rely on its own energy products for electricity despite struggling with its antiquated power grid, Western Europe relies heavily on Moscow for its natural gas and crude oil to keep prices down. stable.

The relationship, although difficult, lasted several decades. This ended when Russia invaded Ukraine in February 2022 and triggered an intense reaction from the West. The EU and UK quickly imposed sanctions on Russia’s energy sector, unveiling plans to quickly reduce their purchases of Russian goods and find those goods elsewhere.

The pivot was not easy. Western Europe has been struggling with power shortages throughout the year, and the summer heat has exacerbated the problem. Crippling heat waves have emerged in the UK, Spain, Portugal and France, with record high temperatures causing large wildfires and thousands of deaths.

The heat wave was particularly dangerous because many affected countries “are not really trained to deal with the heat,” George Havenith, professor of environmental physiology and ergonomics at Loughborough University, recently told Insider.

The heat wave has since eased somewhat, but Russia’s retaliatory energy embargoes have triggered a painful new stage. The UK and EU have not yet fully weaned off Russian gas, leaving energy in a shorter supply as the Kremlin cuts off flows to the west.

This left residents to pay for their daily electricity needs. Britain’s energy regulator has raised its cap on annual energy bills to £3,549 – around $4,189 – from October 1, nearly doubling the previous limit and rising 178% from last winter.

The trek presents low-income Britons with an impossible choice: go into debt to maintain basic energy consumption, or endure a scorching summer and freezing winter plagued by blackouts and health risks.

Immediate solutions are few, but as climate change rages on, the impetus to bolster power grids with renewables and efficient energy storage is growing.

“If we don’t recognize the serious risks that climate change poses to our power system, we’re likely to see more of these reliability issues,” Webb said. “It is imperative that regulators, electric utilities and system operators recognize that climate change is here.”

Report notes changes in Oklahoma’s employment landscape

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Declines have been noted in recent years in the number of jobs associated with Oklahoma’s energy and energy services industry. (File photo)

About 1.7 million people are currently employed in Oklahoma, roughly the same number of employees in 2019 at the start of the pandemic, but career paths for many have changed due to changes in various industries, perhaps most particularly in the energy industry.

According to a report released this week by the Kansas City Regional Federal Reserve Bank, changes have been noted over the past three years — and even in previous years — in the total number of people employed in 52 Oklahoma industries. .

By far the largest decline in total employment was seen in the sector that encompasses oil and gas service work performed on a contract basis. According to the report, there are approximately 12,300 fewer such jobs in Oklahoma than there were in 2019, representing a 42% decline. Other employment in the sector, mostly related to non-contract oil and gas extraction, fell by about 4,000, or 21%.

In both segments of Oklahoma’s important energy industry, employment numbers have actually declined for most of the past decade, the Fed noted.

“So despite strong job gains over the past year, overall mining/energy sector employment in the state remains more than 40% lower than it was a decade ago. , a decline of nearly 28,000 jobs,” the report said.

Other industries added jobs.

Transportation and warehousing companies, for example, have added 16,000 jobs since 2019, representing a 47% increase.

Employment gains were also recorded in the retail sector, in the restaurant sector, in Indian-tribe-owned businesses, in employment services, accounting and payroll services, food manufacturing, credit intermediation and related activities, building equipment services and insurance related activities. .

Job losses were recorded in machinery manufacturing, civil and heavy engineering construction, nursing and residential care, welding and metal fabrication, information/media, waste management and local administration excluding tribal administration.

Unfortunately, many of the industry sectors that have created jobs are not paying as well as those that have lost jobs.

“While knowing which industries are growing or shrinking the fastest is helpful in understanding current trends in Oklahoma’s economy, it’s also helpful to know how much those industries pay, relative to annual salary. 2021 average in-state $51,350,” the report said. . “Overall, the fastest growing industries in the state since 2019 are paying below average wages, while those that are shrinking the most are paying above average wages.”

Among Oklahoma’s 10 industries that created the most jobs over the past three years, the weighted average annual salary (taking into account the size of sectors) in 2021 was $43,594, below the overall state average. However, half of the industries paid above the state average, and two — transportation/warehousing and food manufacturing — paid only slightly below average. The inclusion of lower-paying retail and restaurant jobs, and the larger size of those two industries, “pull the average down” for the group, the Fed said. Additionally, three of the state’s fastest-growing industries since 2019 — accounting, banking and insurance — pay more than $68,000 a year on average, more than 30% more than the state average. .

Looking at the 10 industries in Oklahoma experiencing the fastest contraction since 2019, the average annual salary in 2021 was just over $56,000, well above the overall state average. Only three – local government, nursing homes and other private service jobs – paid below-average salaries. Of the rest, jobs in the energy sector pay particularly high wages, and the average wage in the manufacturing, construction, and information industries also exceeded the state average by a significant margin. .

The longer-term trend of high productivity in these industries – reflected in their higher pay – means that sustained job growth is likely to be difficult, as fewer workers are needed to do the same amount of work, noted the Fed.

“While nearly the same number of people are now employed in the state as in 2019, the industries in which many of them work have changed,” said Chad Wilkerson, branch manager, vice president and economist. of the Oklahoma City branch of the Federal Reserve. Bank of Kansas City. “In some sectors, employment is still more than 10% below pre-pandemic levels, while jobs in other industries are up significantly from three years ago.”

The report can be viewed online at kansascityfed.org/oklahomacity/oklahoma-economist.

Cheap energy: the US Solar Fund at a bargain price

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Bullish points

  • Long-term electricity agreements fix dividends
  • Gearing below target, potential for expansion
  • Managers’ record of discounts
  • Goldman Sachs asset sale shows quality

bear dots

  • No exposure to high wholesale electricity prices

Developments in recent days – namely Russia’s shutdown of Nord Stream 1 and OPEC’s cancellation of planned oil supply increases – suggest that this period of plenty could last for some time. But what if you’re looking for a fixed, forgotten stock that’s not likely to be at the top of the cycle now or in the coming months?

Owners of renewable energy assets, on the other hand, are trading the benefits of rising volatility with stable asset values ​​and solid growth prospects, as money lands in the sector thanks to government stimulus measures. . According to organizations such as the International Energy Agency, it is precisely investments in renewable energy that will help prevent a recurrence of the energy market tragedies of the past year.

As the United States rushes into solar, European governments are looking to revamp electrical systems and end some of the huge profits being made by power generators, including from renewable sources. These low-cost operations in many cases receive the same wholesale electricity prices as fossil fuel power plants due to the functioning of markets, which increases profits.

In response to the crisis conditions, investors have already driven up the stock prices of funds that own renewable energy generation capacity on this side of the Atlantic. But with potentially big regulatory changes coming here and in mainland Europe, the United States holds more promise. Moreover, renewable energy operators are unlikely to be fully exposed to high electricity prices. Indeed, much of the market operates on contracts for difference (CFDs), especially the newer projects.

“We think investors know reform is coming. [in the UK power sector] and firms are unlikely to object to low-carbon CFDs if implemented carefully,” RBC Capital Markets analysts wrote this month, adding that “the decoupling of renewables and nuclear gas in the longer term is also wise. Chancellor Kwasi Kwarteng said voluntary long-term contracts for renewable generators could come into effect, although it was unclear why they would agree to these lower prices.

Lower exposure to the spot electricity market does not mean that owners of UK and European-focused assets are completely out in the cold, as the rise in net asset value (NAV) signals. sector funds. “The net asset value announced today is the highest NESF has ever published and it is encouraging to see that [its] the stock price has started to strengthen in line with its peers,” said NextEnergy Solar Fund (NESF) President Kevin Lyon a fortnight ago. Bluefield Solar Income Fund (OSFI) also announced a 10% jump in its net asset value between March 31 and June 30. Both funds trade in line with net asset value.

For a growth option, investors might consider American Solar Fund (USF), which has the advantage of trading at a 12% discount (73.6p, versus the unaudited March NAV of 96.7¢ per share). It is also entering heady times for solar companies in the United States thanks to the new Inflation Reduction Act. It passed the Senate and is expected to spur a rush for new spending on solar capacity and fund growth opportunities, a board goal despite a recently announced asset sale.

The main aid for sun exposed entities is an expanded tax credit scheme for new projects. The other is the addition of tax credits for projects built with locally made solar panels. It’s about stimulus as geopolitics, given China’s dominant position in the global supply chain. At the same time, the Biden administration removed a tariff on solar parts from other Asian countries.

states of the sun

USF was listed in 2019 as a vehicle for – you guessed it – US solar assets. It was initially a mix of developing and completed solar farms in North Carolina, Oregon, Utah and California. Just under a third of the assets are in North Carolina, with 168 megawatts (MW) out of 543 MW total. In terms of generating capacity, this is well below Bluefield’s 766 MW and NextEnergy’s 865 MW, although it should be noted that USF is much younger than its two peers. The fund experienced significant expansion in 2021, when the net asset value increased from $194 million to $324 million and power generation increased from 374 gigawatt hours (GWh) to 851 GWh as new projects are posted online.

The growing scale has brought with it a growing profile among institutional investors, and the fund’s manager, New Energy Solar Manager (NESM), has successfully added a shareholder base that includes Liontrust, Sarasin & Partners and Baillie Gifford. One of the results has been quite limited liquidity for retail investors, but expansion plans in the near future could improve this situation.

Beyond the initial fundraising in 2019, the fund has only returned to the market once, raising $132 million in April last year. This was largely spent on refinancing ($92 million) as well as $21 million for a larger equity option in the 100-MW-MS2 project in February. He has since reached an agreement to sell the 50% stake in the project to a subsidiary of Goldman Sachs for $53 million, saying it would “monetize a significant existing asset at its current book value.”

If MN8 Energy (as Goldman’s renewable energy arm is now known) decides not to buy the project, US Solar retains a $1 million option payment. But completion will mean expansion is on the cards: “If the sale continues, USF will use the proceeds for new investments, working capital and/or future capital management,” the fund said. .

For capital management, it’s probably not a stretch for potential investors to read “share buybacks,” all on top of a well-hedged CA5.58 share dividend for 2022.

A similar tip of the hat to the first quarter outlook came a few months before the announcement of the MN8 divestiture, when the board and NESM said they were “evaluating a range of strategic options to create shareholder value from USF’s high-quality portfolio.”

NESM’s ruthless approach is evident in its recent decision to sell the assets of its Australian Stock Exchange-listed solar fund at MN8. It is also in the process of pulling out of the ASX and returning the money to investors, after enjoying a steep discount for a few years.

A trade update for USF later this month will give a deeper look at what’s to come. What is already clear is that the United States had favorable conditions for solar production this summer. The 2021 “heat dome” has not reappeared in the Pacific Northwest, but Oregon has had much more consistent warm weather, according to local reports. This was “lower-than-expected irradiance,” to use the jargon, which contributed to the fund’s overall production forecast missing by 3.9% last year, so it will be welcome.

A question ouppercase

The long-term position of the fund (or rather its projects) has improved this year, even as power price forecasts have reached net asset value. Last year, around 70% of the portfolio extended the life of assets, bringing the average usage to 40 years. This is a long horizon given that solar technology is evolving rapidly, so the key figure for investors is the average duration of power purchase agreements (PPAs) – 14 years (see chart). It also moved up. The downside is price lock-in – although PPAs have built-in increases – so the net asset value is affected by power price forecasts over a decade ahead.

The longest PPA is currently 24 years, for the fund’s largest asset, Milford, Utah, and the shortest is just under six years, for a smaller plant in North Carolina. Milford is twice the size of the second largest plant, with 128 MW, providing enough power for around 30,000 homes in the area.

The European equivalents certainly have some appeal given that the sky-high prices aren’t going away anytime soon. But with USF at a discount and generating its revenues entirely in US dollars, we take its long-term stability and near-term growth prospects as a buy signal.

American Solar Fund (BHZ6410)
Price 73.6p CEO Liam Thomas
AI sector Global Sales department SETSqx
Fund type Firm More details ussolarfund.co.uk
Cut $292 million Ongoing charges 1.32%
Release date 04/16/2019 Yield 6.30%
Teleprinter USF ($) / USFP (£) Target Net Total Return 7.50%
Performance (total return in sterling, %)
6m 1 year 2 years 3 years
American Solar Fund 10.07 7.57 14.4 10.3
FTSE All Share 5.31 -0.25 31.28 2.79
Source: FactSet, at 6.9.22

Top 10 assets by size

solar power plant Capacity (MWdc) State Date of purchase energy buyer Buyer’s credit rating PPA duration remaining (years) Date of business transactions
Milford 127.8 Utah August 19 PacifiCorp S&P: A 23.7 Nov-20
Mount Signal 2 49.9 California March 21st Southern California Edison S&P: BBB 18.2 Jan-20
Suntex 15.3 Oregon Jun-20 Portland General Electric S&P: BBB+ 9.3 Jul-20
West Hines 15.3 Oregon Jun-20 Portland General Electric S&P: BBB+ 9.3 Jun-20
Alkali 15.1 Oregon Jun-20 Portland General Electric S&P: BBB+ 9.4 Jun-20
rock garden 14.9 Oregon Jun-20 Portland General Electric S&P: BBB+ 9.4 Jun-20
Chiloquin 14 Oregon March 20 PacifiCorp S&P: A 9.7 Jan-18
Dairy 14 Oregon March 20 PacifiCorp S&P: A 9.6 March 18
Tumbleweed 14 Oregon March 20 PacifiCorp S&P: A 9.7 Dec-17
Lake view 13.7 Oregon March 20 PacifiCorp S&P: A 9.6 Dec-17
Source: company, portfolio audited at 31.3.2022

Germany’s economy minister under fire as German companies sound alarm over energy prices

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German Chancellor Olaf Scholz and German Economy and Climate Minister Robert Habeck attend the budget debate at the lower house of the Bundestag parliament in Berlin, Germany, September 7, 2022. REUTERS/Michele Tantussi

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  • Minister says companies will ‘just stop producing’ in winter
  • A third of companies view energy prices as an existential threat
  • Some 25% of companies plan to relocate production outside of Germany
  • Government relief package not enough, lobbyists say

BERLIN, Sept 7 (Reuters) – German Economy Minister Robert Habeck came under fire on Wednesday for saying he could imagine parts of the economy shutting down production due to rising oil prices. energy which, according to the German companies, threatened their existence.

When asked if he expected a wave of insolvencies at the end of this winter due to rising business energy bills, Habeck replied: “No, I don’t think so. I I can imagine that some industries will simply stop producing for the time being”.

The response, in an interview with the ARD television channel on Tuesday evening, drew criticism of the minister in charge of Europe’s biggest economy, with the widely circulated Bild newspaper claiming that Habeck “didn’t no idea of ​​economics.

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Friedrich Merz, the leader of the conservative opposition, also took the opportunity to criticize Habeck, Germany’s second most popular politician, saying he and his ruling coalition were not taking energy and economic issues seriously. .

“We could see how helpless you are, Mr Habeck, in the face of these questions last night on German television,” Merz told the lower house of parliament.

Habeck’s comments come as economists and industry groups warn that rising energy prices pose a growing risk to Germany’s small and medium-sized businesses, which form the backbone of the economy.

After profiting from cheap Russian gas for decades, German industry is facing a crisis as Russia cuts supplies, pushing energy suppliers to buy gas at rising market prices and pass those costs on consumers.

Rising energy costs and supply chain bottlenecks contributed to a 26% rise in insolvency proceedings in Germany in August, the IWH economics institute said on Tuesday, adding that d ‘further insolvencies were expected in the fall.

In a survey by German industry association BDI of 593 companies, which ran from mid-August to early September, more than a third said their existence was at risk due to rising prices, compared to 23% in February.

NOT IN THE RIGHT PLACE

For auto parts supplier Boegra near the western city of Düsseldorf, a fivefold increase in energy prices from October means changing the production schedule and halting production for the next three weeks.

The more than 100-year-old company is also considering moving out of Germany if the energy price situation does not improve, Boegra chief executive Tobias Linser told Reuters.

“We already partly cooperate with an extensive workbench in the Czech Republic and we also have a strategic cooperation with an Indian company,” Linser said.

It has not been possible to pass on increased costs to customers because the company has long-term contracts prohibiting price adjustments, he added.

In the BDI survey, some 58% of companies saw soaring costs as a major challenge and almost 25% were considering or in the process of offshoring part of their business. One in 10 companies had reduced or halted production due to soaring prices.

Bavarian industry group vbw said on Wednesday that its energy price index had more than doubled in a year by July 2022.

“For more and more industries, energy prices are becoming an existential issue,” said Bertram Brossardt, director of vbw.

The German Association of Small and Medium Enterprises (DMB) said many of its members report that their electricity or gas suppliers have either terminated old contracts or adjusted their terms.

“These companies are unsure and want to know how to handle this situation and what options they have,” DMB energy expert Steffen Kawohl told Reuters.

He said that in some cases companies take out loans to finance the additional costs, but without a state guarantee it becomes increasingly difficult to receive credit approvals when the company is already facing difficulties. problems to cover its operating costs.

“Companies are therefore also looking for alternative sources of financing (e.g. sale and leaseback) to improve their short-term liquidity,” Kawohl added.

Berlin announced a 65 billion euro ($64.33 billion) aid package on Sunday to help citizens and businesses cope with rising prices, but BDI chief Siegfried Russwurm said that the program was not enough, calling on the government to co-finance the electricity grid charges.

German energy-intensive companies would receive a total of 3 billion euros this year and next from this relief, according to a breakdown from the Ministry of Finance.

“In my opinion, the aid program will help, but not in the right place. For us, as a classic medium-sized company, hardly anything from this aid program reaches us,” Linser added.

($1 = 1.0104 euros)

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Reporting by Riham Alkousaa, editing by Rachel More, Kim Coghill and Chizu Nomiyama

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Russia’s shutdown of natural gas flows to Europe puts the continent in a new era of uncertainty

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In what would have been a scenario unimaginable just a few months ago, Russia has cut off all natural gas flows to Europe via its Nord Stream pipeline, plunging the continent into a new era of uncertainty that is impacting the steps.

Why is this important: The gas cut bodes very badly for economic growth in Europe, as a range of industries dependent on abundant Russian gas are forced to cut production.

What they say : “This broad, long-term industrial and energy strategy that the government – but also huge swathes of energy-intensive industries – have pursued for decades, building entire sectors like the chemical industry around very cheap Russian gas , collapsed,” said Lion Hirth, a professor of energy policy at the Hertie School of Governance in Berlin, tells Axios.

The impact: The euro has just plunged to a new 20-year low against the dollar.

  • The pound plunged to its lowest against the greenback since 1985.
  • Yields on European government bonds – which determine borrowing costs for national governments – have risen as investors price in the risk of large new borrowing to fund crisis responses.

Catch up fast: Russia – which reportedly closed the pipeline for maintenance on Friday – surprised no one by announcing that it would not restart gas flows.

Zoom out: For decades, Europe – especially Europe’s largest economy, Germany – depended on Russian natural gas for heat and electricity.

  • Today, Europe is forced to rebuild its energy system on the fly, using an untested and costly mix of price caps, rationing and bailouts to get through the next few months.

Between the lines: Analysts believe Russia wants to inflict economic and financial pain this winter in order to erode Europe’s solidarity and support for Ukraine, which has been crucial to the country’s revulsion in the face of the Russian invasion.

The last: In recent days, countries across the continent have been rushing to bolster their energy systems in the face of soaring costs for consumers and businesses.

What we are looking at: Economists’ expectations for growth in the EU and UK, which are falling rapidly.

Data: FactSet;  Graphic: Axios Visuals
Data: FactSet; Graphic: Axios Visuals

State Warns of Possible Spinning Blackouts Tuesday Amid Heat Wave | New

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California’s power grid operator warned of potential rotating power outages during the evening hours of September 6, 2022. Embarcadero Media file photo by Veronica Weber.

As electricity demand may have hit a record high for the state on Tuesday amid a prolonged heat wave, California’s independent system operator warned residents to be prepared for possible rotating blackouts in the evening.

Officials with CAISO, which manages electricity on the state’s high-voltage transmission lines, predict demand will top 52,000 megawatts Tuesday night as the Bay Area and other locations in the state have experienced triple-digit temperatures for several days in a row. Monday’s peak demand was 49,020 megawatts.

CAISO says it expects to declare Energy Emergency Alert 3 around 5:30 p.m., a procedural decision that moves it away from a rotating blackout order. If power reserves are depleted, the electric grid operator says it will order utilities such as PG&E to begin rotating outages until demand matches available supplies.

Stanford University does not expect its main campus to be included in the planned outages, but its Redwood City campus could be impacted. Updates will be posted on the university’s emergency information page.

PG&E had more than 12,000 customers reporting outages in the Bay Area shortly before 4 p.m. Tuesday, including more than 8,200 in the East Bay, utilities spokeswoman Tamar Sarkissian said.

A better way to smartly charge EVs: talk to the car

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Some electric vehicle owners may be happy to save money by letting utilities control when charging takes place, a way to reduce the strain on the power grid. But they also want to be sure they have a full battery when they need it. What’s a good way to make sure this happens? Allow utilities to communicate directly with electric vehicles.

This is why Apoorv Bhargava, CEO of weaving grid, sees telematics – the on-board computers and communication technology inside EVs – as a focal point of EV smart charging programs. While most public services have relied on VE chargers to play this role, WeaveGrid partners with utilities to enable them to leverage telematics to get the information they need to manage smart charging programs. The company’s utility customers include Baltimore Gas & Electric, Xcel Energy in Colorado, Oregon Portland General Electric and, more recently, Pacific Gas of California & Electrical (PG&E).

This link with the VE himself can build a clearer picture of what is happening in mobility to inform what is happening in electricity,” he said. How does a customer behave? What value can this behavior create for the power grid? Having an incomplete picture on the data side makes this very difficult.

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Obtaining accurate data on customer needs is especially important if VE homeowners face an impending grid outage, such as those triggered occasionally in California to reduce the risk of starting a raging wildfire.

Last week, WeaveGrid and PG&E has teamed up to launch evPulsea smart charging pilot program available exclusively to customers who live in power outage risk areas as part of PG&The regime of E of forest fire prevention network outages on hot and windy days. These power cuts for public safety”, or PSPS events, have left hundreds of thousands of customers without power, some for days at a time, over the past three years – and for VE conductors, this loss of power could leave them stranded.

The evPulse program, designed to support between 8,000 and 16,000 clients once fully deployed, will alert VE owners before these outages happened, Bhargava said. It can help making sure their car is topped up whenever they need it, whether it’s driving to grandma’s house for a PSPS event,” or, as home vehicle charging technology becomes more widely available, to have them close at hand whenever they need them [home electricity] to save. »

A utility can see a EV primarily as a major new grid load to control, or perhaps, a battery on wheels to harness to help the grid. But WeaveGrid’s work is grounded in the understanding that a VE the owner sees it differently. The customer values ​​their car as a car, above and beyond anything else,” he said. People have very different relationships with their vehicles than with their thermostats, air conditioners, water heaters, or other devices that are typically targeted for remote control by utilities.

I don’t drive my smart thermostat to work. I don’t put my kids in my smart thermostat,” Bhargava said. Mobility is an application with high added value.

Telematics: The Battery Tracker on Wheels

Telematics is built into almost all modern vehicles today, using GPS cellular communications and other technologies to track location, driver behavior and specifics of vehicle operation. Automakers have their own systems like OnStar from General Motors, Safety Connect from Toyota and BMWit is BMW To help. Third-party systems such as those from Geotab and Samsara connect fleet vehicles.

Electric vehicles need even more telematics systems, which can closely monitor the state of their batteries, estimate how much range they have left and help drivers plan ahead for charging. It really matters not just to us, but to automakers,” Bhargava said.

Adam Langton, director of energy services at BMW North America, said the German automaker has been using telematics for VE managed charging programs in Europe for years, as well as long-running projects with North American utilities, including PG&E and Sacramento Municipal Utility District.

The advantage we have over a charging system is that we know everything about the vehicle: the state of charge, how long it will take to charge, and the size of the battery,” Langton said. It gives BMWUtility partners are more insightful than smart VE chargers can supply.

Langton also pointed out that many VE owners do not have VE chargers. Many customers won’t install a charging station” in their homes, he says. They will simply plug their car into a switchboard 120-volt outlet, he said, or maybe a 240-volt outlet, which some homes already have for dryers, using a power cord that many car manufacturers include with their electric vehicles. Charging programs that use telematics are open to those VE owners too.

A growing number of utilities are turning to telematics for these reasons, said Zach Woogen, policy manager at the Vehicle-Network Integration Consultinga group representing VE load makers and makers. Beyond PG&E, California’s other two major investor-owned utilities, Southern California Edison and San Diego Gas & Electric, are seeking regulatory permission to launch their own telematics-based managed charging programs, he noted.

We will need both these telematics approaches and grid-based charger options if we are to evolve electric vehicles as a grid-based resource,” Woogen said. Not all customers will be able to afford or want to use a networked Level 2 charger. If we want to scale, we need to offer the widest possible set of avenues for participation. »

Joseph Vellone, head of North America for the charging software provider ev.energysaid about 90 % of participating utilities use EV telematics in the managed charging programs that his company manages. Ev.energy customers include national grid in Massachusetts, United Illuminating in Connecticut, and community choice aggregators Silicon Valley Clean Energy and ECM in California.

Frankly, what we’re seeing is that even with discounts available, a lot of customers aren’t interested in buying from a network” VE charger, he said.

Tap into VE telematics requires companies like ev.energy and WeaveGrid to work with automakers to integrate their technologies. PG&E’s evPulse program now works with Hyundai, Kia, Lexus, Tesla and Toyota electric vehicles, for example. WeaveGrid is integrating with more vehicles, Bhargava said.

What Reliance’s Decision to Acquire a Majority Stake in a Solar Software Company Means

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Oil-telecom conglomerate Reliance Industries has signed definitive agreements to acquire a majority stake in California-based solar software startup SenseHawk Inc for a total deal value of $32 million. The move comes as the company focuses on the new energy sector where it plans to reach 100 GW of solar power by 2030.

Why the acquisition?

Founded in 2018, SenseHawk is a developer of software-based management tools for the solar power generation industry. It offers solutions from planning to production by helping companies streamline processes and use automation. SenseHawk also offers a digital platform for end-to-end solar asset lifecycle management.

The company has over 140 customers in 15 countries with assets totaling over 100 GW. Its revenue for fiscal year 2022 was $2,326,369, while it was $1,165,926 for fiscal year 2021 and for fiscal year 2020 it was $1,292,063. Reliance Industries Chairman Mukesh Ambani said the acquisition will help the conglomerate reduce costs, improve productivity and improve on-time performance to provide low levelized cost of electricity (LCoE) for solar projects. worldwide.

“We are on a mission to improve the solar energy ecosystem, capturing 50% of the market by 2025 and with RIL as our partner, we will accelerate our execution towards this goal,” said Rahul Sankhe, President and co-founder of SenseHawk.

How does Reliance position itself in the new energy sector?

Last year, Reliance announced an investment of Rs 75,000 crore to be deployed in its new energy business over the next three years.

Prior to SenseHawk, the conglomerate had made a number of acquisitions to boost its new energy game. In February this year, it completed a 40% acquisition of Sterling & Wilson Renewable Energy Ltd (SWREL) from the Shapoorji Pallonji Group. SWREL has the expertise in executing over 11 gigawatts of turnkey solar projects worldwide.

In December 2021, Reliance New Energy Solar Ltd, a wholly owned subsidiary of Reliance Industries, took over Faradion, a UK-based battery company, for $135 million.

In October 2021, it acquired the Norwegian company REC Solar for the manufacture of photovoltaic (PV) solar panels. Reliance’s photovoltaic cell manufacturing plant in Jamnagar, Gujarat will be based on REC’s technology. The installation will be operational from 2024.

Last month, at its 45th annual general meeting, Ambani said the conglomerate would begin production of battery packs by 2023 and move to a fully integrated 5 GWh annual cell-to-pack manufacturing plant by 2024. .

SK snaps up clean energy venture with Malaysia’s Gentari

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SK Group has partnered with Gentari Sdn Bhd (Gentari), a clean energy solutions entity founded by Malaysian energy company PETRONAS, to seize clean energy business opportunities.



SK Group is partnering with Gentari Sdn Bhd (Gentari), a clean energy solutions entity founded by Malaysian energy company PETRONAS, for clean energy business opportunities.

The group is stepping up its efforts to break into green industries in Southeast Asia, following its recent equity investments in green companies in countries such as Vietnam and Singapore.

The group announced on September 5 that three of its companies, SK Materials Inc., SK Ecoplant and SK Signet, have signed a memorandum of understanding with Gentari for comprehensive cooperation in the clean energy sector.

SK and Gentari agreed to use the MoU as a springboard to identify opportunities for joint projects in hydrogen, fuel cells and electric vehicle (EV) charging, and further strengthen cooperation on several fronts.

The MOU is in line with Gentari’s business focus on cleaner energy solutions and efforts to seize the opportunities of the energy transition. Gentari’s three initial core offerings provide customers with low-carbon solutions through renewable energy, hydrogen and green mobility.

SK hopes to create major synergy effects through the partnership with Gentari by leveraging its technology and capabilities in areas such as hydrogen and the electric vehicle ecosystem.

Meanwhile, under the umbrella of Malaysian energy company PETRONAS, Gentari will be able to use the production and distribution infrastructure as a solid base to establish business models in areas such as hydrogen production and distribution, as well as the development of charging and the battery of electric vehicles. solutions in Malaysia.

An SK Group official said, “This MoU signals that SK is going beyond just making investments and expanding its presence in green business opportunities in the Southeast Asian market, which is a key region for a strategic global partnership”.

Lee Yong-wook, Chairman of SK Materials Inc., said, “The cooperation between SK and Gentari in green and clean business opportunities is indeed a significant step forward by both companies to jointly respond to the climate crisis facing the global community faces. We will work together to find the right balance between our companies’ technologies and capabilities, and cooperate closely to ensure green technology for the future.

Representing Gentari, Mr. Shahrizal B Yang Razalli, Head of Clean Energy Solutions Transition, PETRONAS, added: “In line with our goal of ‘solving the world’s most pressing sustainable energy needs, changing the way we live today. ‘today and help secure our future’, Gentari is committed to helping our global customers make the important journey to net zero. To do this, we believe partnerships are needed to discover and develop energy solutions. that can enable pragmatic action today.Collaborating and innovating with partners like SK Group helps Gentari explore emerging energy technologies, scale faster to meet existing demands, and unlock greater value.

Advanced Energy Market Expected to Surpass US$3,258.7 Billion by 2030

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Allied Market Research

PORTLAND, OREGON, USA, Sept. 5, 2022 /EINPresswire.com/ — The global peak power market size was valued at $1,695.8 billion in 2020 and is expected to reach $3,258.7 billion. by 2030, growing at a CAGR of 6.8% from 2021 through 2030. The technology needed to build a contemporary, efficient and cost-effective energy system presents enormous growth prospects for various businesses and industries around the world through advanced energy systems. It is a dynamic and complex collection of resources, technologies, and services that work together to satisfy changing consumer demands, which is further expected to drive the market growth in the future.

In addition, advanced energy is reliable and environmentally friendly; hence, it is in high demand in the industry. Additionally, advanced energy refers to various technologies, goods, and services that make energy consumption more sustainable, safe, and affordable. The growth of the advanced energy market is fueled by uninterrupted innovation through R&D and active government policies. Advanced Energy aims to improve the safety, efficiency and affordability of existing energy systems.

Rising demand for electric vehicles and rising need for building energy efficiency have driven the growth of the global peak energy market. However, changes in atmospheric conditions such as heat, cold, UV radiation, humidity reduce the efficiency of renewable technologies, which decreases the efficiency rate. This factor is restraining the growth of the market. On the contrary, increased investment towards power supply and management solutions would open up lucrative opportunities.

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Concern over reduction in greenhouse gas emissions, low efficiency levels and lack of progress in the application of nuclear energy are expected to restrain the growth of the advanced energy market during the period forecast. However, the development of new resources requires large initial investments to build infrastructure. These investments increase the cost of electricity supply, especially during the first years. Initially, developers had to find publicly acceptable sites with good resources and access to transmission lines. Finding a potential site requires several years of monitoring to determine if it is suitable. In addition, workers must be trained to install, operate and maintain new technologies. Some require experience operating in certain climatic conditions before performance can be optimized. All these factors are expected to hamper the market growth in the future.

By end use, advanced energy market analysis is divided into power generation, power delivery and management, building efficiency, water efficiency, transmission, and fuel generation and delivery. The power generation segment recorded the highest advanced energy market share of around 40.9% in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to the increase in electricity generation from a diverse set of established and new technologies, such as nuclear, renewables, coal, oil and gas, biofuels and others across the world. Additionally, distributed generation is rapidly increasing in residential, commercial, industrial, and municipal buildings or facilities, which, in turn, is expected to drive the peak power market growth over the forecast period.

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Regionally, advanced energy market forecasts are analyzed in North America, Europe, Asia-Pacific and LAMEA. The Asia-Pacific advanced energy market is expected to grow at the highest CAGR of 7.1% during the forecast period, owing to increasing industrialization as well as rising population , which has led to an increase in demand for power generation, transmission and distribution across the globe. Region. The peak power market has grown tremendously in countries like China, Japan, India and others. China is a major player in hydropower, wind power, solar PV and became the world’s largest producer of bioelectricity in 2020. This is expected to further drive the growth of the advanced energy market at the future.

Major players operating in the global advanced energy sector include ALSTOM, Advanced Energy Industries, Inc., Cummins Inc., Clean Energy Fuels, ENN Energy Holdings Limited, Ford Motor Company, Itron, Inc., Schneider Electric, Siemens AG and SHELL PLC.

Other players operating in the value chain of the global advanced energy market include BG Group, Silver Spring Networks, Brammo Inc., ENN Energy Holdings, and others.

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IMPACT OF COVID-19 ON THE GLOBAL PEAK ENERGY MARKET
The novel coronavirus is an unparalleled global pandemic that has spread to more than 180 countries and caused enormous loss of lives and economies across the world. The advanced energy market has been negatively impacted by the wake of the COVID-19 pandemic. The COVID-19 pandemic has severely affected wind turbine manufacturing, construction and renewable infrastructure construction in countries such as China, India, Japan, Germany and others. In addition, complete lockdown and social distancing norms in different countries have delayed cross-border export and import business. This has led to supply chain disruptions in upstream and downstream channels. Due to the pandemic outbreak in Europe, countries like Germany and the UK are expected to grow at a slow pace over the next couple of years. Due to the lockdown put in place in various countries, domestic and international transportation has been hampered, which has had a significant impact on the supply chain of many industries across the world, thus increasing the gap between supply and demand. Thus, insufficient supply of raw materials is expected to hamper the production rate of advanced energy products and other solutions, which has negatively impacted the growth of the market.

Main benefits for stakeholders
• This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of advanced analysis of the energy market from 2020 to 2030 to identify current opportunities in the energy market advanced.
• Market research is offered with information related to key drivers, restraints and opportunities.
• Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
• In-depth analysis of advanced energy market segmentation helps determine existing market opportunities.
• Major countries in each region are mapped according to their contribution to global market revenue.

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Allied Analytics LLP
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Consumers Energy in Ithaca working to restore gas services after pipeline incident

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ITHACA, Mich. (WILX) – Consumers Energy workers spent Sunday repairing disconnected natural gas services that have impacted Ithaca residents and businesses.

About 1,400 Large Energy Consumer customers suffered a loss of natural gas because an underground pipeline was struck, forcing Consumers Energy to disconnect its natural gas services. If customers weren’t present when workers arrived to restore service, Consumers Energy left a green door tag with instructions for scheduling a restart.

Background: Pipeline damage in Ithaca results in service interruption for 1,400 customers

Restaurant owners like Los Hermanos owner Jose Gomez have weighed in on how this closure has affected their business.

“If you don’t have gas, you can’t do anything,” Gomez said.

Gomez said they had to close for a day and a half because they were unable to use natural gas to cook on a gas stove, which impacted the restaurant’s revenue for the weekend.

“For us, because we are losing money, especially these two days, these are our busiest days for us. Friday and Saturday are busy days,” Gomez said.

Gomez said Los Hermano luckily opened on Saturday night.

To help address the issue, Consumers’ Energy workers are visiting homes and businesses on Sunday to relight customers’ pilot lights. Spokesman Brian Wheeler said Consumers Energy is working to resolve the issue as soon as possible.

“We expect that by the end of the day we will contact or visit each home or business that has been affected,” Wheeler said. “We don’t know the full circumstances of how this accident happened in the first place, but you can see the impact it is having on the community.”

Consumers Energy said this accident should remind people to dig safely in your home or business. Wheeler said if anyone is working on a project call 811 to learn more about the locations of underground pipes, cables and other utilities.

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  • Michigan State Police: Man swerving to avoid tractor-trailer leads to crash on I-94
  • Lansing Residents Celebrate Michigan Chicken Wing Festival

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Heat wave intensifies on Sunday ahead of peak early in the week – The Ukiah Daily Journal

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A sweltering heat wave that gripped nearly the entire state of California intensified on Sunday ahead of extremely hot and potentially record-breaking temperatures this week that could strain the state’s power grid, exacerbate fire conditions in Northern California and smother the Bay Area in unhealthy air.

California officials issued energy conservation and air quality alerts Sunday morning as a punishing heat wave continued to grip the Bay Area and much of the rest of the region. ‘State. Rising temperatures are expected to peak Monday and Tuesday, when much of the South Bay and inner parts of the Bay Area could easily exceed 100 degrees in the longest and deepest heat wave. intense from Northern California so far this year.

“It’s like a marathon, not a sprint,” said Sarah McCorkle, a National Weather Service meteorologist, while advising residents to take precautions and stay out of the heat. “For the year, this is probably the most significant heat event we’ve had so far.”

The NWS extended an excessive heat warning through Wednesday for much of the Bay Area, including San Jose, the East Bay Hills and Contra Costa County. A heat advisory is in effect from 11 a.m. to 8 p.m. for areas closer to the coast, including the San Francisco Bay Shore and the Marin Coast.

The forecast sent throngs of people flocking to the cool, windy beaches of San Francisco, which were teeming with people seeking refuge from the region’s dizzying heat. While temperatures in the rest of the Bay Area were expected to hit the 80s and 90s, the city known for its fog-filled summers stayed in the mid to upper 70s.

“It’s a relief,” Rudy Rivera said as he sat in his cooler flipping burgers on a portable grill in Baker Beach. He and his family woke up at 5am on Sunday for the hour and 45 minute drive from Stockton as temperatures at home were expected to hit the mid-100s on Sunday and get even hotter next week.

“I usually take my family to Frisco for sure,” he said. “Just to get away. It’s cooler. The environment is better. It’s an escape.

Even residents of South Bay, who were dealing with temperatures reaching near 90s on Sunday, made the trip north to the city.

“We came early because we thought there would be a lot of people,” said Agostina Albamonte, who made the trip from Mountain View with her two children. “It’s kind of awesome and amazing and more relaxed for kids.”

California’s independent system operator issued another flexible alert from 4 p.m. to 9 p.m. Sunday, which asks residents to minimize their energy use to prevent overloading the state’s power grids. The alert comes as the brunt of a sweltering heat wave takes hold in Northern California, pushing temperatures 10 to 25 degrees above normal for much of the region and increasing the risk of heat stroke.

The utility regulator expects power consumption on Sunday to peak around 5:30 p.m., with Californians using nearly 45,700 megawatts of electricity during that time. That’s only about 3,000 megawatts below the state’s current capacity.

Spare the Air alerts were also issued for the Bay Area on Sunday and Monday, which means residents can expect unhealthy air conditions on both days due to dangerously high ozone and pollution levels. Air quality is expected to be worst in Santa Clara and Contra Costa counties, according to the Bay Area Air Quality Management District.

The warnings came after a trough – or area of ​​low pressure – moved through the region on Saturday, delaying the main event of a heatwave that was previously expected to peak on Sunday and Monday. As a result, the hottest weather is not expected until the end of the Labor Day weekend.

When that happens, several Bay Area cities could be downright scorching. Several daily heat records could fall in stride.

Livermore and Concord could see temperatures hit 90 degrees on Sunday before reaching or exceeding 110 degrees on Monday and Tuesday. The heat wave could potentially wipe out the city’s previous high temperature of 108 for September 5 and 6, which were set in 1950 and 1904, respectively. On both days, the city is expected to reach 112 degrees.

Temperatures across San Jose are expected to range between the 80s and mid-90s on Sunday before peaking at 102 on Monday. If forecasts hold, the city could beat its previous record of 99 degrees for September 5, set in 2008.

Oakland is expected to be in the low to mid 80s on Sunday before jumping to low 90s the next two days. San Francisco is expected to be in the mid to high 70s on Sunday before temperatures hit the low to mid 80s on Monday and Tuesday.

In an ominous sign, National Weather Service meteorologists said upper level air temperatures over Oakland broke a record for Sept. 4, reaching 84 degrees at an elevation of 5,000 feet. It is about 1.5 degrees warmer than the previous record for that date.

Cooling centers have been opened throughout the Bay Area, including at least a dozen in and around San Jose. Most are expected to remain open at least until Wednesday.

Hot weather has further exacerbated fire conditions across the state, forcing firefighters to rush to numerous blazes over the past few days. In Weed, the Mill Fire destroyed dozens of homes on Friday while burning more than 4,200 acres; it was 25% contained on Sunday morning. Also in fire-ravaged Siskiyou County, the Mountain Fire has burned over 6,400 acres and remains 5% contained.

Tinder-like conditions from Sunday’s heat wave were already sparking local fires in the South Bay.

An early morning wildfire broke out just before 8 a.m. on Mt. Hamilton Road near the upscale Grandview Restaurant in a building dating back to the 1880s.

Fire crews were able to put out the one-acre blaze in about 30 minutes, CAL FIRE spokesman Josh Shifrin said. He added that the heatwave has forced firefighters to add hydration crews to their shifts, which provide shade and cold drinks. Crews are also working on a different schedule to reduce their exposure to heat.

“When it’s great like that, it’s harder for firefighters to work in those conditions,” he said. “We need to increase our cycle of work and rest. We can’t wait 24/7. We have a kind of recovery. A few downtimes. But we still have our mission.

KLICKL Obtains ADGM Approval in Principle to Operate as Broker and Virtual Asset Custody Provider

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Abu Dhabi: Klickl is the latest global virtual asset service provider to receive Financial Services Authorization (FSP) Approval-in-Principle (IPA) from Abu Dhabi Global Market (ADGM) to operate as a broker and ensure the custody of the digital asset. square.

We are delighted that Klickl has obtained an IPA and will soon be part of the exciting crypto ecosystem regulated in the United Arab Emirates to expand our product and service offering to the entire MENA region.

Michael Zhao, co-founder and CEO of Klickl, said, “The regulated path is the only growth path for any crypto company if it wants to be a serious long-term player. Long gone are the days when digital asset players had a first mover advantage benefiting from a fast-growing bull market. The recent turmoil in the crypto market and the big sell-off caused by greed-driven FOMO sentiment is just another example to show why the market needs proper risk control and compliance.

Klickl has from the beginning actively engaged global regulators as part of its ongoing commitment to upholding global standards and collectively fostering the developments and sustainable growth of the crypto ecosystem. The ADGM is one of the world’s leading regulatory jurisdictions for virtual assets in the region. The IPA issuance illustrates Klickl’s commitment to becoming a comprehensive virtual asset leader within the global Abu Dhabi market.

Formerly known as IDCM, the group recently renamed itself Klickl representing the sound coins make as they click together in harmony and prosperity. As a long-standing digital asset exchange that pioneered the Alliance Concept (Exchange as a service), Klickl Group has successfully navigated bull and bear markets for the past five years.

Focusing on building their ecosystem infrastructure, Klickl’s new team is working around the clock to create a new suite of products, aiming to deliver this awesome all-in-one crypto app that meets all your crypto needs in the ever-changing digital world. time.

About Klickl

Klickl is the region’s first all-in-one crypto super app that provides regulated digital brokerage services as well as trusted depository solutions to individuals, businesses and institutional investors in a simple, secure and efficient way . The company excels in its modular digital product offerings backed by unparalleled infrastructure and technical know-how that unlock the value of captive digital assets for everyday use. Intuitively designed, Klickl, through seamless aggregation, strives to be users’ only digital asset account in an already disruptive ecosystem.

NextEra Energy, Inc. (NYSE:NEE) Receives Consensus ‘Moderate Buy’ Rating from Analysts

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Shares of NextEra Energy, Inc. (NYSE:NEE – Get Rating) earned a consensus recommendation of “Hold” from the twelve rating agencies that currently cover the company, Marketbeat reports. Five equity research analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average target price among brokerages that have covered the stock over the past year is $90.44.

NEE has been the subject of a number of recent research reports. Seaport Res Ptn downgraded NextEra Energy from a “buy” rating to a “neutral” rating in a Tuesday, July 26 research report. TheStreet upgraded shares of NextEra Energy from a “c+” rating to a “b” rating in a Friday, July 22 research report. Barclays lowered its price target on NextEra Energy shares from $90.00 to $86.00 and set an “equal weight” rating for the company in a Monday, July 18 research report. Wells Fargo & Company raised its price target on NextEra Energy shares from $107.00 to $115.00 and gave the company an “overweight” rating in a Tuesday, Aug. 9 report. Finally, Guggenheim rephrased a “buy” rating and set a target price of $91.00 on NextEra Energy shares in a Friday, July 22 report.

NextEra Energy is trading down 1.3%

Shares of NEE opened at $85.11 on Friday. The company has a market capitalization of $167.22 billion, a price-earnings ratio of 64.97, a PEG ratio of 3.25 and a beta of 0.47. The company has a debt ratio of 1.20, a current ratio of 0.53 and a quick ratio of 0.47. NextEra Energy has a 1-year low of $67.22 and a 1-year high of $93.73. The company has a 50-day moving average of $83.58 and a 200-day moving average of $79.57.

NextEra Energy (NYSE:NEE – Get Rating) last released its results on Friday, July 22. The utility provider reported EPS of $0.81 for the quarter, beating analyst consensus estimates of $0.73 by $0.08. NextEra Energy posted a net margin of 14.75% and a return on equity of 11.97%. The company posted revenue of $5.18 billion for the quarter, versus analyst estimates of $5.26 billion. During the same period last year, the company posted earnings per share of $0.71. The company’s quarterly revenue increased by 32.0% compared to the same quarter last year. On average, research analysts expect NextEra Energy to post EPS of 2.88 for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Tuesday, August 30 will receive a dividend of $0.425 per share. The ex-dividend date is Monday, August 29. This represents an annualized dividend of $1.70 and a yield of 2.00%. NextEra Energy’s dividend payout ratio (DPR) is 129.77%.

Insider Buying and Selling at NextEra Energy

Separately, CEO John W. Ketchum bought 12,909 shares in a trade that took place on Friday, July 1. The stock was purchased at an average price of $78.33 per share, for a total transaction of $1,011,161.97. As a result of the purchase, the CEO now directly owns 132,894 shares of the company, valued at $10,409,587.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 0.43% of the shares are currently held by insiders of the company.

NextEra Energy Institutional Negotiation

Several large investors have recently increased or reduced their stake in NEE. Amundi increased its stake in NextEra Energy shares by 12.7% during the second quarter. Amundi now owns 6,090,517 shares of the utility provider worth $483,551,000 after purchasing an additional 687,503 shares during the period. Intersect Capital LLC increased its stake in NextEra Energy by 25.6% in the 2nd quarter. Intersect Capital LLC now owns 7,284 shares of the utility provider valued at $564,000 after acquiring an additional 1,484 shares during the period. Raleigh Capital Management Inc. increased its equity stake in NextEra Energy by 14.5% in Q2. Raleigh Capital Management Inc. now owns 2,643 shares of the utility provider valued at $205,000 after acquiring 335 additional shares in the last quarter. Fragasso Group Inc. increased its stake in shares of NextEra Energy by 3.6% in the second quarter. Fragasso Group Inc. now owns 71,778 shares of the utility provider worth $5,560,000 after acquiring an additional 2,496 shares during the period. Finally, Goepper Burkhardt LLC increased its stake in NextEra Energy shares by 27.6% during the second quarter. Goepper Burkhardt LLC now owns 4,620 shares of the utility provider worth $358,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 76.89% of the company’s shares.

NextEra Energy Company Profile

(Get an assessment)

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes and sells electricity to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal and natural gas installations. It also develops, builds and operates long-term contract assets that consist of clean energy solutions, such as renewable energy generation facilities, battery storage projects and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates power generation facilities in the wholesale energy markets.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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Brian Burke, Kerry Stokes and Kevin Reynolds among key players in race to unlock WA’s green energy future

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Former Western Australian premier Brian Burke is among a growing list of potential bidders looking to develop a major renewable energy project in the state’s coalfields.

Mr Burke, who was prime minister at the height of the WA Inc saga in the 1980s, is involved with an entity known as Collie Pumped Hydro, which wants to use the coal voids to build a pumped hydroelectric power station at Collie, 180 kilometers south of Perth. .

Alongside him is Kevin Reynolds, a former union arsonist who led the construction, forestry, mining and energy union in WA until 2011.

At the helm of the company is Frederik Suhren, a former lieutenant of deposed WA coal tycoon Ric Stowe, whose business empire was rooted in the Collie coalfields when it collapsed in 2010.

The trio’s involvement comes amid efforts by a roll call of WA business and energy players to develop the state’s first major pumped hydro project to replace retiring coal-fired power plants.

Crowded Field Eyes Project

Chief among them was billionaire Kerry Stokes, whose Seven Group reportedly presented plans to the state government in 2020 to build a pumped hydro project using disused coal mines to store water.

In 2020, the Seven Group of then-chairman Kerry Stokes presented a pumped hydropower proposal to the WA government.(PA: Lukas Coch)

It is understood that the proposal by Seven Group, the $6.7 billion conglomerate that spans mining equipment, fossil fuels and media interests, has not been successful and the company is no longer pursuing l ‘idea.

Under a plan announced in June, the WA Labor government said it would close its remaining coal-fired power stations in Collie by 2029 and replace capacity with a mix of renewable technologies.

Key to these plans is pumped hydropower, which works by pumping water from one reservoir to another when power prices are low and releasing the water downstream through a turbine to generate electricity when prices are high.

WA Energy Minister Bill Johnston said such “deep storage” would be crucial to the green energy transition to ensure lights stay on when the sun isn’t shining or the wind is blowing not.

Pipes descending to the water.
Snowy Hydro 2.0 is Australia’s best-known pumped hydro project, but many more are in the works.(Supplied: Snowy Hydro )

Early estimates suggest that the project, which would have a capacity of between 400 MW and 800 MW, will cost hundreds of millions of dollars.

The federal government’s attempts to build the 2,000 MW Snowy Hydro 2.0 hydroelectric project are expected to cost at least $10 billion and be several years behind schedule.

Seven Group’s interest in developing a pumped hydropower project at Collie was revealed last year but, until now, the wider list of candidates was unknown.

In addition to Mr Stokes and the entity linked to Mr Burke, the major gas pipeline company Jemena has also considered a possible inclination to a development.

Burke’s involvement ‘without inconvenience’

And the state government has confirmed it is considering a proposal through its utilities, the Water Corporation and electricity provider Synergy.

Despite their similarities, the competing offers are meant to be separated by a critical difference.

A truck moves through an open pit mine.
Surface coal mining near Collie south of Perth has left voids that stretch to the horizon.(ABC News: Anthony Pancia)

While Jemena and state utilities would explore more conventional designs using existing reservoirs, the Collie Pumped Hydro plan – and the abandoned Stokes plan – would be so-called pit developments.

The plans would involve converting disused coal mine pits into reservoirs, allowing state and private operators to avoid rehabilitation obligations that could cost more than $1 billion.

Collie Pumped Hydro chairman Mick Murray, a longtime former Labor MP from the Collie state seat, confirmed that Mr Burke and Mr Reynolds had been involved in the venture, but said they did not weren’t major players.

A huge mural painted on the side of a dam wall in southwest WA.
There are already several large reservoirs in southwest WA, where the Wellington Dam holds nearly 200 billion liters.(ABC News)

“They are very far apart,” Mr. Murry said.

“Certainly, the technical staff and the finances are a long way from Brian Burke and Kevin Reynolds.

“If there’s knowledge to use, you use it. But it’s definitely not a cloak-and-dagger thing.”

The “ideal” coal pits for technology

Mr Murray explained that Collie Pumped Hydro’s proposal would involve the construction of two 200MW turbines at the Muja Coal Mine, which he said was a good fit for the technology due to the slope of the void wall.

Construction is expected to take about two years, create about 300 jobs and cost nearly $1 billion, he said.

“We are about to get to a stage where we can present a solid proposal to the government,” he said.

“But we need some support from the government to say, ‘Yes, we’re going to take over your project’.”

According to Murray, the case for installing a pumped hydroelectric power station in Collie was strong because of the relative suitability of the area’s topography.

More importantly, he said, there were already high-voltage power lines connecting Collie’s coal-fired power stations to the grid, removing the need for costly transmission infrastructure upgrades.

Andrew Blakers, director of the Australian National University’s Center for Sustainable Energy Systems, said using former mine voids for pumped hydropower was feasible and in many ways could provide an advantage. given their depth.

Aerial photo of a large solar farm showing rows of panels lined up in an enclosure.
Western Australia is expected to run on solar power for decades to come.(Provided: APA Group)

However, Professor Blakers said there were drawbacks associated with mine shafts, which were often contaminated with toxins and sludge which could damage production equipment.

He said that even if these problems could be overcome, for example by lining the pit to avoid contamination, any solution would increase costs.

WA needs pumped hydro, expert says

A man with short gray hair stands near a brick wall, smiling.
Professor Blakers says potential contaminants in mining pits should be considered. (Supplied: ANU)

Either way, he argued that pumped hydropower would be essential to any grid, including WA’s, powered by renewables.

“The cost of pumped hydro – even from poor pumped hydro sites – is a quarter or even a tenth of the cost of a battery for overnight storage,” Professor Blakers said.

“And because Western Australia is moving towards a solar-dominated system, you absolutely need overnight storage.

“End of story – you just need it. And doing that with batteries is just laughable.”

Prof Blakers said the South West of WA was not well suited for pumped hydro as it was relatively flat, but he believed such a disadvantage would be more than offset by the wind and solar wealth of the State.

Power lines built through a clear forest.
Proponents say Collie’s high voltage power lines make it ideal for hosting a pumped hydro project.(ABC News: Gian De Poloni)

“Western Australia doesn’t have a lot of choice,” Prof Blakers said.

“But Western Australia has great wind and great sunshine, so they’re going to spend less on generation but more on storage than in the east.

“So it’s swings and rides.

“And they will end up with electricity at a very competitive price by world standards.”

Gas pipeline giant expresses interest

Jemena, which is Australia’s second-largest natural gas pipeline operator, confirmed that the company was examining the feasibility of pumped hydropower in south-west WA.

However, he said planning was still at an early stage and there were no firm plans to move forward with a proposal.

“The Western Australian government’s recent announcement to phase out coal will increase the need for firming up capacity and pumped hydro generation is likely to be a key contributor,” a spokesperson said.

Photo of white wind turbine against blue sky.
The wind does not always blow when electricity is needed, so storage is considered crucial.(Supplied: APA)

“At this stage, development is still in its infancy but looks promising.

“However, there still remain a number of commercial, technical, heritage, environmental and community barriers that would need to be removed before the project can be considered viable.”

Day 4 of prolonged heat wave urges continued call for energy conservation

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OAKLAND, Calif.–(BUSINESS WIRE)–With temperatures forecast to be 10 to 20 degrees above normal in many areas over the next few days, demand for electricity is expected to continue to rise. The state grid operator says the power grid maintained reliability during the heat wave thanks to conservation efforts. Pacific Gas and Electric Company (PG&E) thanks its customers for doing their part.

Actions like turning off the lights and raising the thermostat by a degree or two make a big difference at a time when extreme temperatures are increasing energy demand in the West, primarily due to air conditioning use.

The state’s grid operator, the California Independent System Operator (CAISO), has issued a flexible alert that will go into effect today (Saturday, September 3) from 4 p.m. to 9 p.m.

Here are simple ways for PG&E customers to reduce the strain on the power supply:

Today, before 4 p.m.:

  • Pre-cool home or work space. Lower the thermostat in the morning. When the outside temperature rises, raise the thermostat and circulate the pre-cooled air with a fan.
  • Use major appliancesincluding:
    • Washer and dryer

    • Dishwasher

    • Oven and stove for pre-cooking and meal preparation

  • Charging electric vehicles.
  • Blinds closed: Sunlight passing through windows heats the house and makes the air conditioner more efficient. Block out this heat by keeping blinds or curtains closed on the sunny side of the house.

Today, during the Flex Alert from 4 p.m. to 9 p.m.:

  • Set the thermostat to 78 degrees or higher, health permitting: Each degree above 78 represents an appropriate saving of 2% on cooling costs.
  • When it’s cooler outside, bring some fresh air inside: If the outside air is cool at night or early in the morning, open windows and doors and use fans to cool your home.
  • Avoid using major appliances.
  • Turn off all unnecessary lights.
  • Avoid charging electric vehicles.

New this summer, customers can be rewarded for saving energy when the state grid operator calls for conservation. PG&E’s Power Saver Rewards program is a free, voluntary program that financially rewards participants who temporarily reduce their electricity usage when demand is high. By saving energy during Power Saver Rewards events coinciding with Flex Alerts, customers earn $2 for every kilowatt hour (kWh) of energy saved. Over 1.5 million PG&E customers are registered.

Registered customers who reduce their energy consumption between 4 p.m. and 9 p.m. will receive a credit on their bill at the end of the season. There is no cost or penalty for not reducing energy. Visit powersaver.pge.com to easily register and learn more about the program.

Customers can also help reduce the amount of power on the grid during a Flex Alert by enrolling in PG&E’s SmartAC program, which turns the air conditioner on and off every 15 minutes for up to six hours on event days. . This year, new participants will receive $75 for existing thermostats or $120 off the purchase of a new thermostat with registration. Customers cannot be enrolled in both SmartAC and Power Saver Rewards programs.

Eligible customers with a Tesla Powerwall battery energy storage system can participate in the PG&E + Tesla Virtual Power Plant. Through this collaboration, Tesla is participating in PG&E’s Emergency Load Reduction Program (ELRP) Demand Response Pilot by enrolling and combining residential Powerwall home battery systems in a virtual power plant to offload the energy to the grid during periods of high demand. Participating customers will receive compensation for the energy their Powerwalls discharge.

Additionally, extremely hot weather can overload electrical equipment and cause heat-related power outages. PG&E has a plan and encourages customers to prepare as well. Prepare a flashlight, radios and fresh batteries.

PG&E does not anticipate the need for a public safety power outage due to these weather conditions, but the company’s weather team continues to monitor conditions.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than 16 million people over 70,000 square miles in northern and central California. For more information, visit pge.com and pge.com/news.

Modification of the composition of the EDF Board of Directors

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EDF

Modification of the composition of the EDF Board of Directors

EDF’s Board of Directors, meeting on August 31, 2022, took note of the resignation of Mr. François Delattre, director appointed on the proposal of the State pursuant to Article 6.II of Ordinance no. 2014-948 of August 20, 2014, following his appointment as French Ambassador to Germany.

The Board of Directors thanks him for his contribution to the work of the Board and for his support for the projects and activities of the EDF group in his capacity as Secretary General of the Ministry for Europe and Foreign Affairs.

Mr. Delattre had been a director of EDF since June 2019.

Biographies of all Board members are available at:
https://www.edf.fr/fr/le-groupe-edf/edf-en-bref/gouvernance/conseil-dadministration

This press release is certified. Check its authenticity on medias.edf.com

About EDF
A major player in the energy transition, the EDF group is an integrated energy company present in all business lines: production, transport, distribution, energy trading, energy sales and energy services. The EDF group is a world leader in low-carbon energies, having developed a diversified production mix based mainly on nuclear and renewable energies (including hydraulics). It also invests in new technologies to support the energy transition. EDF’s raison d’être is to build a net-zero energy future with electricity and innovative solutions and services, to help save the planet and promote well-being and economic development. The Group participates in the supply of energy and services to approximately 38.5 million customers (1), including 29.3 million in France (2). It achieved consolidated revenue of 84.5 billion euros in 2021. EDF is listed on the Paris Stock Exchange.

(1) Since 2018, customers have been counted by delivery site. A customer can have two delivery points: one for electricity and another for gas.
(2) Including ÉS (Electricité de Strasbourg) and SEI.

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Siemens Gamesa Completes Sale of Renewable Energy Development Assets in Southern Europe

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Siemens Gamesa announced the completion of the sale of renewable energy development assets in Southern Europe to SSE for a total cash consideration of 613 million euros (580 million euros correspond to the purchase price and 33 million euros to estimated working capital and net debt adjustments as of June 30, 2022). The adjustments mentioned remain subject to the usual examination of the post-closing accounts.

This sale includes a pipeline of onshore wind projects with a total capacity of 3.8 GW at various stages of development in France, Greece, Italy and Spain, with the possibility of developing up to 1.4 GW of projects photovoltaic (PV) co-located.

A team of approximately 50 people from Siemens Gamesa, with strong industry experience in these countries, will be integrated into SSE as part of the agreement.

As part of the transaction, Siemens Gamesa will have the opportunity to partner with SSE Renewables for the supply of turbines and associated long-term maintenance services for a portion of the wind farms installed and operated by SSE in the coming years at from this sale. .

“We are pleased to have successfully completed the transaction with SSE before the end of our 2022 fiscal year, as announced in April. With this sale, Siemens Gamesa is optimizing its asset portfolio and maximizing its value. We are convinced that SSE is the right partner to develop the excellent portfolio of wind projects built over the years by our Southern European project development team, which will now also be part of SSE. This agreement will strengthen our relationship with SSE, as it will benefit both companies,” said Jochen Eickholt, CEO of Siemens Gamesa.

“We are delighted to have completed this transaction ahead of schedule and truly delighted to welcome new colleagues to the SSE Renewables business. There is a fantastic local team in place who will help us establish a long-term presence in Southern Europe by developing, building and operating wind, solar and onshore storage infrastructure. We look forward to continuing to work with communities and stakeholders across the region to deliver the energy transition,” said Stephen Wheeler, Chief Executive Officer of SSE Renewables.

BofA Securities, CMS Albiñana&Suárez de Lezo and Deloitte acted as advisors to Siemens Gamesa in connection with the transaction.

For more news and technical articles on the global renewable energy industry, read the latest issue of Energy Global magazine.

Energy Global Summer 2022 issue

The Summer 2022 issue of Energy Global hosts a series of technical articles focusing on wind, solar, biofuels, green hydrogen, geothermal, and more. This issue also features a regional report on the outlook for renewable energy in the United States.

Read the article online at: https://www.energyglobal.com/wind/02092022/siemens-gamesa-completes-sale-of-south-european-renewables-development-assets/

California embraces worrying nuclear plant amid blackout fears

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California’s only nuclear plant, which sits near fault lines, will remain open after its originally scheduled shutdown as the state continues to battle scorching temperatures and an uncertain power grid.

On Thursday, the California Legislature, by a vote of 69 to 3 in the Assembly and a vote of 31 to 1 in the Senate, approved an additional five-year plan to keep Diablo Canyon, the largest source of electricity in the condition, open and still working. Monitored by the Nuclear Regulatory Commission, the plant was initially licensed to operate until 2025, but will now remain open until 2030.

The group Save Clean Energy, which has fought to keep Diablo Canyon open, applauds the decision of the Legislative Assembly.

“Keeping operations at Diablo Canyon will maintain our food supply while preventing the release of millions of tons of carbon into the atmosphere,” Isabelle Boemeke of Save Clean Energy told NPR. “This is a real win-win for the people of California and our planet.”

NPR reported in 2016, however, that enemies of the plant cited its location near fault lines as a security concern.

In 2018, the state pledged to be completely dependent on clean energy sources by 2045. Nuclear is a zero-emissions clean energy source, but creating a system that can meet the energy demands of Californians can be a difficult task. Recently, California was hit with sweltering temperatures that Governor Gavin Newsom said created “significant demand” on the state’s energy grid.

On Wednesday, he declared a state of emergency due to temperatures expected to exceed 100 degrees throughout Labor Day weekend. State officials also called on residents to avoid charging their electric vehicles, a week after voting on a plan to ban new gas-powered car sales by 2035.

An aerial photograph of the Diablo Canyon nuclear power plant, which was scheduled to close in 2025, was taken on December 1, 2021, near Avila Beach, California. State lawmakers have approved a plan to extend the life of Diablo Canyon, California’s only nuclear power plant.
George Rose/Getty Images

Pacific Gas and Electric Company (PG&E), a San Luis Obispo County electric utility, operates the plant’s two nuclear units that have been in place since 1985. The Diablo Canyon website states that the two units “produce 18 000 gigawatt hours of clean electricity”. and reliable electricity every year,” enough to serve nearly 10% of the state’s energy portfolio.

The Los Angeles Times reported that Diablo Canyon generated 6% of California’s electricity in 2021. The bill passed Thursday includes a $1.4 billion forgivable loan to PG&E for continued operation of the plant , which PG&E had agreed to close in part due to earthquake-related safety concerns.

Democratic Senator Dianne Feinstein of California has been pushing for state lawmakers to keep the plant open in cohesion with the development of renewable energy sources, say in a tweet that the state’s energy system “depends on the extended operation of Diablo Canyon”.

“In August 2020, extreme heat resulted in power shortages and the first blackouts in the state since the 2001 energy crisis,” Feinstein wrote in an Aug. 30 letter to state lawmakers. “The consequences would have been even more severe without Diablo Canyon electricity. State regulators have anticipated similar shortages and blackouts during peak demand periods in the coming years, and the removal of a source major power generation without proper preparation will only leave the grid more vulnerable.”

Newsweek has contacted Newsom and PG&E for comment.

Black Diamond Group Limited publishes its first corporate responsibility report

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CALGARY, Alberta, Aug. 31, 2022 (GLOBE NEWSWIRE) — Black Diamond Group Limited (“Black Diamond“or the”Company” (TSX: BDI), a leading provider of workforce space rental and accommodation, today released its first Corporate Responsibility Report. The report details the company’s commitment to environmental, social and governance issues and is a key part of how the company continues To create a better way for its stakeholders.

“We are delighted to announce the launch of Black Diamond Group’s first corporate responsibility report,” said Trevor Haynes, President and CEO of Black Diamond Group. “Since our inception in 2003, we have strived to be a leader in conscientious operation, through responsible use of resources and reliable compliance with local regulations. Additionally, we have always sought to give back to our local communities and create a meaningful impact in the communities in which we live and work.

Black Diamond’s ESG program, as described in this report, is centered around the company’s mission – Creating a Better Way – and focuses on key strategies and initiatives designed to support long-term sustainability, such as:

  • The environmental benefits of modular construction
  • The environmental and social benefits of effectively managing crew travel
  • Maintain a culture of safety
  • Maintaining a positive relationship with Indigenous communities across Canada
  • Honor sport as a force for good in communities
  • Celebrating Diversity, Equity and Inclusion at Black Diamond
  • Adhere to high standards of openness, integrity and accountability
  • Establish an initial inventory of Scope 1 and 2 emissions and intensity

The Black Diamond Group Corporate Responsibility Report is the culmination of the work of all team members, who work together to ensure that we deliver results we can be proud of. We believe that our team of the best and brightest minds in the industry can recognize the excellence and continued commitments in this report while continuing to hold each other accountable for continued progress in environmental, social and governance disciplines.

Among the many highlights listed in detail in the corporate responsibility report, some focal points include:

  • Environmental impact of project development: We had no incidents of non-compliance with environmental permits, standards and regulations in 2021.
  • Environmental Management Plan (EMP): We have an EMP in place that helps us identify, assess, mitigate and monitor the environmental risks of our operations. Considerations under this plan include energy and water efficiency in the operational phase.
  • Aboriginal Relations: We strive to foster strong relationships with Indigenous communities and have successfully formed six equity-based partnerships with Indigenous communities across Canada. These partnerships have delivered significant economic benefits to the communities in which we operate.
  • Staff health and safety: We have a record of zero incidents resulting in fatalities and are working diligently to manage our total recorded incident rate, with a goal of zero safety incidents. In 2020 and 2021, our TRIF was 0.35 and 0.56 respectively.
  • Strong business ethics: We are committed to high ethical standards, which includes that we do not and will not operate in countries that score low on Transparency International’s Corruption Perceptions Index.
  • Diverse and inclusive workplace: The Company is committed to ensuring equal opportunity for all employees and believes that a successful team can only be built by measuring objective performance goals and merit; regardless of age, sex or ethnic origin.

Black Diamond’s corporate responsibility report is guided by the standards of the Sustainability Accounting Standards Board, or SASB.

To view Black Diamond’s first Corporate Responsibility Report, visit this link: https://www.blackdiamondgroup.com/BDG/media/media/ESG/2022-Corporate-Responsibility-Report.pdf

About Black Diamond Group

Black Diamond is an industrial rental and services company with two operating units – Modular Space Solutions (MSS) and Workforce Solutions (WFS). We operate in Canada, the United States and Australia. MSS through its main brands, BOXX Modular, Britco, MPA and Schiavi, has a large rental fleet of modular buildings of different types and sizes. Its network of local branches rents, sells, services and provides ancillary products and services to a diverse customer base in the construction, industrial, education, finance and government sectors. WFS, through its primary brands, Black Diamond Camps and Black Diamond Energy Services, has an extensive rental fleet of modular accommodation assets of all types and sizes and a liquid containment asset fleet and solid. Its regional operating terminals lease, sell, service and supply ancillary products and services, including turnkey operated camps, to a wide range of customers in the resource, infrastructure, construction, recovery disaster recovery and education. The WFS business unit also includes the Company’s wholly-owned subsidiary, LodgeLink, which operates a digital marketplace for business-to-business lodging, travel and crew logistics in North America.

Learn more about www.blackdiamondgroup.com.

Investor requests

Jason Zhang at 403-206-4739 or [email protected]. To sign up for news alerts, go to https://www.blackdiamondgroup.com/investor-centre/news-alerts-subscription/.

Media inquiries

Jonathan Stringer at 780-733-1788 or [email protected].

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Source: Black Diamond Group Limited

Gavin Newsom urges residents to conserve energy during heatwave – Times-Standard

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Humboldt County won’t face the brunt of a heat dome settling over the state for the next few days, but the state is asking residents to be prepared to conserve energy in the afternoon and in the evening on the hottest days to avoid taxing the electricity network.

“We are voluntarily asking you to do a little more to get us through next week,” Gov. Gavin Newsom said at a press conference Wednesday.

Temperatures across the state are expected to be about 10 to 20 degrees Fahrenheit warmer than usual through Tuesday, according to a heat report from the state’s Independent System Operator. That won’t be the case for much of Humboldt County, National Weather Service meteorologist Doug Boushey said, though heat in southern and eastern parts of the county will reach a crescendo on Monday when temperatures are expected to exceed 100 degrees Fahrenheit. .

“I don’t plan to issue a heat advisory for Humboldt County at this point,” Boushey said. “But it’s going to be hot. I mean, everything is relative, it’s hot like that.

The influence of sea air really helps moderate the higher temperatures, Boushey said.

Pacific Gas & Electric spokeswoman Deanna Contreras said the utility does not plan to shut off power for public safety in the coming week, but customers in southern and western county may experience heat-related failures.

Even though the county will remain cooler than other areas, Contreras said utility customers can still lower the cost of their bills through voluntary conservation, which the state also requires.

The electric grid operator expects the peak electricity load to exceed 48,000 megawatts on Labor Day, which would be the highest energy load of the year, and plans to issue Flex alerts to let people know to conserve energy over the weekend.

During these alerts, people are asked to reduce their energy consumption from 4 p.m. to 9 p.m., “when the system is most stressed because the demand for electricity remains high and there is less solar energy available”, according to Tuesday’s heat report.

“The top three conservation actions are setting thermostats to 78 degrees or higher, avoiding the use of large appliances and charging electric vehicles, and turning off unnecessary lights,” the bulletin said. “Reducing electricity consumption during this time will ease the strain on the system and prevent more drastic measures, including rolling blackouts.”

You can learn more and sign up for SMS notifications at www.FlexAlert.com.

Sonia Waraich can be reached at 707-441-0504.

My favorite growth stocks in these uncertain times

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Growth stocks typically trade at higher valuations because investors are willing to pay a premium for growth. However, fears of a slowing global economy as the Federal Reserve raises interest rates to fight inflation have weighed on growth stocks in recent months. Indeed, many businesses may not grow as quickly in the future if they do not have access to the capital they need to grow.

However, this is not a problem for some growth stocks. Companies with plenty of internal financial flexibility — free cash flow and cash on their balance sheets — can continue to fund expansion during these uncertain times. Three of my favorite cash-laden growth stocks are CrowdStrike Holdings (CRWD -5.53%), Clearway Energy (CWEN 0.62%) (CWEN.A)and Prologis (PLD -0.09%).

A massive growth opportunity

CrowdStrike Holdings is a global group cyber security leader with a cloud-based platform. The company’s software-as-a-service business model generates a lot of recurring revenue and cash flow. Revenue rose 61% in its fiscal first quarter to $487.8 million, bringing its total annual recurring revenue (ARR) to $1.92 billion.

The cybersecurity company does a great job of converting its earnings into cash. Free cash flow was $157.5 million last quarter, up 34% year-over-year. It turns every $1 of sale into $0.32 of available cash. That free cash flow pushed the company’s cash balance to $2.15 billion from just $740 million in debt.

CrowdStrike’s financial resources give it the flexibility to continue to grow. It is investing heavily to develop new tools to capture a larger share of the massive and growing Total Addressable Market (TAM) opportunity for cybersecurity. The company’s current product portfolio serves a TAM of $58.3 billion, which it expects to grow to $71.1 billion by 2024. In the long term, the company sees its TAM reaching $126 billion. dollars as the market grows and it continues to launch innovative new products. This allows CrowdStrike to continue to grow at a rapid pace in the years to come, with a goal of $5 billion in ARR by its 2026 fiscal year.

The cash to fuel high-end dividend growth

Clearway Energy is a leading clean energy producer with a portfolio of wind, solar and natural gas power plants. The company generates stable cash flows by selling the electricity produced by these plants under long-term fixed rate agreements. This allows it to pay an attractive dividend which currently yields 3.9%.

The company plans to increase this dividend towards the top of its target range of 5% to 8% through 2026. One of the factors fueling this high-end growth rate is the recent sale of its thermal assets. It received $1.46 billion in net proceeds which it redeploys into higher revenue renewable energy investments.

Clearway has already allocated about 55% of that capital, giving it a clear line of sight to future cash flow growth. In the meantime, he plans to put the remaining money to work in the coming years in revenue-generating renewable energy assets. These agreements are expected to allow the company to steadily increase its cash available for distribution from $365 million this year to more than $440 million in the future. This will allow it to support a constantly increasing dividend. Add to that its higher yield, and Clearway could deliver above-market total returns in years to come.

Integrated growth

Prologis is one of the main owners of logistics real estate. It rents these properties under long-term contracts, which allows it to generate relatively predictable rental income. This helps support its 2.5% dividend.

The company paid $1.2 billion in dividends in the first half of this year versus $1.7 billion in adjusted funds from operations. That leads it to produce about $1 billion in post-dividend free cash flow this year.

Combined with its elite balance sheet, Prologis has great financial flexibility to pursue its expansion. The real estate investment company (REITs) is building additional warehousing capacity around the world. It also recently agreed to acquire another logistics REIT Duke Real Estate in a $26 billion all-stock deal. This transaction will immediately increase its earnings and free cash flow per share.

Prologis also has huge built-in growth due to high demand for warehousing space. Given the long-term nature of its leases, it does not fully capture current market rents. Prologis estimates that its net operating income will grow at an annual rate of more than 8% without further growth in market rents. Add up all of its growth engines and this REIT should be able to continue to grow its dividend at a healthy pace while producing attractive total returns.

The fuel to keep growing

Some growth stocks burn cash. Their engines of growth could run out of fuel if the economy stagnates.

However, this will not be an issue with CrowdStrike, Clearway Energy and Prologis. They have the cash to keep growing in these uncertain times, and they should be able to keep growing their revenue and shareholder value even if the economy turns upside down. This ability to grow under uncertainty is why they are among my favorite growth stocks these days.

Matthew DiLallo holds positions at Clearway Energy, Inc., CrowdStrike Holdings, Inc. and Prologis. The Motley Fool fills positions and recommends CrowdStrike Holdings, Inc. and Prologis. The Motley Fool has a disclosure policy.

Breakthrough Energy Ventures Backs Methanol Fuel Cell Company Blue World Technologies

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Blue World Technologies has announced that Breakthrough Energy Ventures (BEV), founded by Bill Gates, has entered as an investor in Blue World Technologies alongside Vaekstfonden (Denmark’s sovereign wealth fund), DEUTZ AG and existing investors who invested in December 2021 to complete the company’s €37 million Series B funding round.

As part of the Breakthrough Energy Ventures investment – ​​partially funded by Breakthrough Energy Ventures and Breakthrough Energy Ventures-Europe (BEV-E) – Blue World Technologies welcomes Allegra Kowalewski-Ferreira, a highly qualified and experienced investment professional from within the board of directors.

The Series B funds will be used to increase fuel cell production as well as invest in the development of methanol fuel cell applications for the marine sector. At the end of 2021, the company internalized all production of core fuel cell components and is currently in pre-series production.

As a flexible power solution, Blue World Technologies’ methanol fuel cell system can be used for auxiliary power, for smaller generator sets or larger power units in the megawatt range, or for propulsion depending on the type of vessel and the customer’s needs.

Later this year, Blue World Technologies will start mass production and with further scale-up, the company expects to reach 500 MW production capacity within a few years.

Shipping is a vital part of our global economy, yet it contributes 1 billion metric tons of carbon emissions every year. We see a real opportunity in the introduction of methanol fuel cells in the maritime sector as a very promising path to net zero CO2 issue quickly. Blue World Technologies has found a unique way to offer shipping operators a climate-friendly solution with an attractive total cost of ownership.

—Carmichael Roberts of Breakthrough Energy Ventures

Breakthrough Energy Ventures-Europe was created by the European Commission, the European Investment Bank (EIB) and Breakthrough Energy Ventures to invest in innovative European companies and bring radically new clean energy technologies to market.

Artificial intelligence and machine learning are now an integral part of smart power solutions

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By Raj Darji, CEO and Founder, Aarav Solutions

The utility space is changing rapidly today. It moves from a conventional and highly regulated environment to a technology-driven market in the blink of an eye. Collecting data and optimizing the workforce is a constant struggle. Smarter infrastructure optimization has increased monumentally with the onset of the pandemic, along with reliance on technology. There is an urgent need to balance supply and demand where artificial intelligence (AI) and machine learning (ML) can come into play.

Data science, aided by AI and ML, has led to several positive developments in the field of utilities. Digitization can significantly increase utility profitability by using smart meters for networks, digital productivity tools and automating back-office processes. According to one study, companies can increase their profitability by 20-30%. Digital measurement is reconnecting organizations to do better through a fundamental reboot of how work gets done.

Customer service and AI
According to a Gartner report, most utility AI investments most often go into customer service solutions. Some 86% of the utilities surveyed used AI in their digital marketing, call center support and customer application. This is a testament to investments in AI and ML that can deliver high ROI by improving speed and efficiency, thereby improving customer experience. Customer-facing AI is a low-risk investment because customer requests are often repetitive, such as billing requests, payments, new connections, etc. AI can deliver tangible results to businesses on the customer service front.

Automatic meters for energy conservation
Manual entry and billing systems are not only time-consuming, but also error-prone and expensive. The Automatic Meter Reading (AMR) system has made a breakthrough. AMR allows large infrastructures to easily collect data and also analyze cost centers and opportunities for improving the efficiency of the natural gas, electricity, water, etc. sectors. It offers real-time billing information for budgeting. It has the advantage of being precise compared to manual entry. Additionally, it is capable of storing data at distribution points within utility networks. This can be easily accessed over a network using devices such as mobiles and handhelds. Energy consumption can be tracked to aid conservation and stop energy theft.

Predictive analysis Enable smart grid options
By taking advantage of new era technologies, utilities can benefit immensely. These technologies in the energy sector contribute to the construction of smart electricity networks. The energy sector is highly dependent on a complex infrastructure that can face multiple problems due to maintenance issues, weather conditions, system or equipment failure, demand peaks and disruptions. misallocation of resources. Overloading and congestion lead to a considerable waste of energy. Grids produce huge data that helps mitigate risk when used correctly. With the large volume of data constantly flowing through the grid, it can be difficult to collect and aggregate it. Operators could miss this information, which could lead to malfunctions or failures. With the help of ML algorithms, information can be obtained for the smooth running
grid operation. Automated data management can help maintain data accurately.

With the help of predictive analytics, operators can predict network outages before customers are affected and also create greater customer satisfaction and mitigate any financial loss.

Efficient and sustainable energy consumption
These allow better allocation of energy for consumption as it would be based on demand and can save resources and help in load management and forecasting. AI can also address vegetation issues by analyzing operational data or statistics. This can help proactively deal with wildfires. Thus, it can become a sustainable and efficient system. To overcome weather-related maintenance issues, automation helps receive signals and prioritize areas that need attention to save money and reduce downtime. To achieve this, the industry is embracing ML capabilities because they need quick and easy access to automation.

The construction sector is also a big beneficiary of the solutions. Building codes and architecture are often colossal challenges that take a long time to overcome. But there are solutions that help builders and developers test these apps seamlessly without any system downtime. By integrating AI and ML into data management platforms, developers allow data science teams to spend enough time innovating and much less time on maintenance. With increasing computing power and cloud accessibility, deep learning algorithms can train faster while optimizing their cost. AI and ML can impact different aspects of business.

AI can improve the quality of human jobs by facilitating remote work. They can help with data collection and analysis and also provide actionable insights. Data analytics platforms can shed light on areas of inefficiency and help vendors cut costs.
Although digital transformation can seem daunting, its opportunities go far beyond the associated costs and risks. Gradually, all public services will undergo digital transformation as it has started to take root in industrial sectors. This AI-driven transformation will improve productivity and revenue gains, make networks more reliable and secure, accelerate customer acquisition, and facilitate entry into new business areas.

Globally, the digital utility market is growing at a CAGR of 11.7% for the period from 2019 to
2027. In 2018, the revenue generated globally for the digital utilities market was $141.41 billion and is expected to reach $381.38 billion by 2027 according to a study by ResearchAndMarkets.com. As the industry evolves, the benefits of AI and ML will come into play and lead to smarter networks, efficient operations and higher customer satisfaction. Companies that are able to take advantage of this opportunity will be prepared for future challenges that may emerge in the market.

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Battleship Texas will make landmark trip to Galveston for $35 million repair

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GALVESTON – The iconic Battleship Texas will make a landmark trip to Galveston on Wednesday from the San Jacinto Battlefield State Historic Site, according to a news release.

Once in Galveston, the 105-year-old vessel will undergo a major $35 million repair at the Gulf Copper & Manufacturing Corporation shipyard to repair the hull, the statement said.

The Battleship Texas repair project group includes the Battleship Texas Foundation, Valkor Energy Services and the Texas Parks and Wildlife Department.

About Battleship Texas

The ship was commissioned in 1914 and is the last large-caliber battleship in the United States naval fleet.

The ship took part in some of the most important naval battles of the two world wars.

It transported soldiers across the Pacific after Japan’s surrender in World War II.

Battleship Texas became the first battleship memorial in the United States when she was decommissioned in 1948.

A d

Scares on the boat?

The battleship has been a popular site for paranormal activity, where people have claimed to hear unexplained noises and witness other bizarre activity. There is also a ghost figure that has been seen moving around the ship and hanging out on different decks. He usually smiles at people.

Copyright 2022 by KPRC Click2Houston – All Rights Reserved.

WEC Energy Group’s Climate Report and Corporate Responsibility Report Highlight Sustainable Progress

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MILWAUKEE, August 29, 2022 /PRNewswire/ — WEC Energy Group (NYSE: WEC) today released its 2021 Corporate Responsibility Report and Climate Report. The Corporate Responsibility Report provides a comprehensive overview of environmental performance , social and governance (ESG) of the company, while the climate report describes in more detail the governance, strategy and management of the company’s risks related to climate change. Together, the reports demonstrate the progress made by WEC Energy Group and its family of companies on major projects and the company’s ambitious sustainability goals.

The reports highlight the company’s national leadership in the decarbonization effort and its commitment to providing affordable, reliable and clean energy, while maintaining a safe and resilient infrastructure.

“As we look to the future of the WEC Energy Group, we see sustainability as a key pillar to our success,” said Scabies Klappa, Executive Chairman. “For more than a century, we’ve served the Midwest with a strong commitment to our stakeholders. Our focus on sustainable growth and corporate citizenship is at the heart of how we do business.”

Report Highlights

The reports highlight how WEC Energy Group’s investments in sustainable technologies, including carbon-free energy and renewable natural gas, are helping the company meet its ambitious carbon and methane reduction targets. The company is targeting a 60% reduction in carbon emissions from power generation by the end of 2025 and an 80% reduction by the end of 2030, both below 2005 levels. The company is also planning a carbon-neutral power generation fleet by 2050.

WEC Energy Group also aims to achieve net zero methane emissions across all of its natural gas distribution operations by the end of 2030.

The reports highlight the company’s ESG progress plan, a $17.7 billion plan to invest in sustainability, growth and efficiency. The five-year capital plan has $5.4 billion allocated to renewable energies and $8.4 billion for the modernization and reliability of the network and the fleet.

WEC Energy Group highlighted its commitment to ensuring a diverse and inclusive workplace. In 2021, the company made measurable progress in advancing women and racial minorities into leadership roles and refined plans to ensure all talent development and engagement efforts align with goals diversity, equity and inclusion.

Additional highlights from the reports include:

  • Named one of America’s Most Responsible Companies by Newsweek magazine.
  • We Energies, the company’s largest utility, received an emergency response award from the Edison Electric Institute for restoring power to more than 210,000 customers after severe storms. Wisconsin in August 2021.
  • Announced a coal phase-out plan for power generation by the end of 2035, with minimal use by the end of 2030.
  • Spent $270.3 million in 2021 with various suppliers.
  • Provided $20 million grants and donations to non-profit organizations.
  • Increased customer access to electric vehicle charging and advanced plans to electrify the company’s automotive fleet.

The 2021 Corporate Responsibility Report, Climate Report and additional information on WEC Energy Group’s ESG efforts are available online at https://wecenergygroup.com/csr/.

WEC Energy Group (NYSE: WEC), based in Milwaukeeis one of the country’s leading energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.

The Company’s principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns power plants. In addition, WEC Infrastructure LLC has a growing fleet of renewable energy generation facilities in the Midwest.

WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a constituent of the S&P 500. The company has 38,000 registered shareholders, 7,000 employees and more than $39 billion of assets.

SOURCEWEC Energy Group

Proposed SEC Climate Disclosures Strengthen ESG for Energy Sector

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The energy industry, like all industries, faces the possibility of new carbon emissions disclosure standards.

The climate-related disclosures proposed by the Securities and Exchange Commission would strengthen the environmental, social and governance (ESG) focus in the industry. The proposed rules come as U.S. executives in the 2022 KPMG US CEO Outlook Pulse Survey identified changing regulations (25%) and lack of standard metrics. (19%) as the biggest challenges to implementing their companies’ ESG strategies this year. In the long term, survey respondents identified the complexity of supply chains and the lack of appropriate technology solutions as the biggest barriers to achieving net zero.

The new SEC proposal, if adopted, will lead energy companies to leverage new data, tools, technologies and skills to integrate ESG into all facets of their business at a deeper level. In our conversations with business leaders, it is evident that many leaders see ESG as an opportunity to build trust with all stakeholders and deliver greater value. Studies show that companies with higher ESG scores are more likely to perform better with less risk.

Here are five ways leaders can embrace ESG to launch a new era of innovation:

Build robust reporting capabilities to measure progress and inform strategy. From setting starting points to measuring progress, data is critical to gaining insights that fuel transformation. The lack of appropriate technology solutions can be one of the biggest barriers to realizing ESG ambitions, but future-proof digital solutions can unlock new market value, with innovation in mind.

As technology continues to improve, artificial intelligence and machine learning tools can collect and aggregate ESG data, automating tasks like filtering and sentiment analysis. Because standards can vary from region to region, reporting capabilities must be dynamic to keep up with the changing regulatory landscape. Additionally, performing a function-based analysis in addition to an organization-wide analysis can highlight areas where additional investment is needed. Monitoring how data is collected and processed is key to tracking progress.

Map operational inefficiencies to capture unrealized value. By assessing gaps, risks and opportunities, leaders can integrate ESG strategy into operations with an understanding of the implications for the workforce, supply chain, operations, technology, infrastructure and Moreover. Map operations and identify ESG risks — including environmental risks such as climate change; human rights issues; and diversity, equity and inclusion – will drive innovation to pave the way forward.

Building agile and sustainable supply chains that remain resilient despite disruptions. The transition to net zero can affect a company’s entire supply chain, requiring a future-ready solution. Decarbonizing complex supply chains can be a significant barrier to achieving ESG ambitions, and leaders need to be innovative in their solutions. A diversified energy supply and a mix of sources is essential so that economies do not become too dependent on single or limited sources of supply. Supply also impacts the four key energy pillars: sustainability, availability, reliability and affordability.

Integrating cybersecurity transparency into the ESG approach. The ESG imperative expands responsibility for good governance and risk management to include a focus on cybersecurity, data privacy and data ethics. For large enterprises, vulnerabilities to cyberattacks must be addressed to ensure responsible and sustainable innovation. Embracing transparency can promote digital trust while providing a window into general corporate behaviors that underpin ESG.

Ensure the preparation of reports. When it comes to measuring ESG, companies will want to understand if they have the capabilities to provide measurable data and reliable reporting. To understand whether they have such capabilities, they will need to consider the sophistication of controls and procedures they would need to achieve reporting objectives. Better reporting capabilities can also produce secondary benefits, such as improved ROI and operational performance. This could also result in a comparatively lower cost of capital compared to peers with lower ESG ratings.

Additionally, ESG will require ongoing literacy efforts. Energy executives should be prepared to discuss in detail how their ESG strategy is achievable. It is essential to educate customers, investors, employees and other stakeholders about their institution’s current actions to mitigate carbon emissions.

With an ESG lens applied to strategic decisions, energy companies can lead the transition to netzero and build trust with key stakeholders: investors, employees and regulators.

Julie Luecht is Managing Director of KPMG’s Houston office and Steve Estes is KPMG’s Country Head of ESG Risk Assurance.

Canadian researchers use machine learning to mitigate the effects of climate change

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After spending nearly a decade working in computer science and artificial intelligence (AI), Sasha Luccioni was ready to uproot her entire life three years ago after becoming deeply concerned about the climate crisis.

But her partner convinced her not to give up on her career altogether, but instead to apply her AI knowledge to some of the challenges posed by climate change.

“You don’t have to quit your job in AI to help tackle the climate crisis,” she said. “There are ways in which almost any AI technique can be applied to different parts of climate change.”

She joined Montreal-based artificial intelligence research center Mila and became a founding member of Climate Change AI, an organization of volunteer academics advocating for the use of AI to solve related problems. to climate change.

  • Do you have a question about climate change and what is being done to address it? Email [email protected] or join us live in the comments now.
Sasha Luccioni, a founding member of the non-profit group Climate Change AI, decided to apply her knowledge of computer science to problems related to climate change. (Camille Rochefort Boulanger)

Luccioni is part of a growing community of researchers in Canada who are using AI in this way.

In 2019, she co-authored a report claiming that machine learning can be a useful tool in mitigating and adapting to the effects of climate change.

Computer scientists define machine learning as a form of artificial intelligence that allows computers to use historical data and statistical methods to make predictions and decisions without having to be programmed to do so.

Common applications of machine learning include predictive text, spam filters, language translation applications, streaming content recommendations, malware and fraud detection, and social media algorithms.

According to the 2019 report, applications of machine learning in climate research include climate prediction and optimization of electricity, transportation and energy systems.

Preparing for crop diseases

Researchers at the University of Prince Edward Island (UPEI) are using AI modeling to warn farmers of risks to their crops as the weather becomes more unpredictable.

“If you have a dry year you see very little disease, but with a wet year you can get a lot of disease around the plants,” said Aitazaz Farooque, acting associate dean of the School of Climate Change and adapting UPEI.

Photo shows Dr. Aitazaz Farooque standing in the hallway of the Canadian Center on Climate Change and Adaptation at UPEI.  On the right wall there are photos of the center in development.
Aitazaz Farooque is the Acting Associate Dean of UPEI’s School of Climate Change and Adaptation, which is leading a project to use weather forecasts to predict crop disease. (Jane Robertson/CBC)

Researchers can feed weather data from previous years into an AI model to predict the type of diseases that could compromise crops at different times of the year, Farooque said.

“Then the producer can be a bit proactive and figure out what they’re getting into,” he said.

WATCH | Take a look at UPEI’s School of Climate Change and Adaptation:

A tour of the new Climate Change Lab in St. Peter’s Bay

From drones to dormitories, St. Peter’s Bay’s state-of-the-art research facility will host world-class students and researchers studying the many facets of climate change.

Agriculture in Prince Edward Island is primarily rain-fed, and providing farmers with more accurate rainfall forecasts can also help them achieve better yields, Farooque said.

“With climate change, we see different trends where the total cumulative precipitation doesn’t change much, but the timing is important,” he said.

“If this does not happen at the right time, the sustainability of our agriculture can be threatened.”

Study behavior in adverse weather conditions

Another application of AI is being studied at McGill University, where researchers are using historical and recent weather data to predict the social impacts of extreme weather events that are affected by climate change, such as heat waves. , droughts and floods.

According to Renee Sieber, an associate professor in McGill’s Department of Geography, researchers hope to find out how people have reacted to disruptive weather events in the past and if that can teach us anything about our resilience in the future.

The McGill Observatory contains weather records dating as far back as 1863 that will be used in an artificial intelligence project analyzing people’s reactions to extreme weather events. (McGill University Archives)

The team will use a form of AI called natural language processing to analyze social narratives related to weather events in newspapers and other media.

“AI is very good at organizing, synthesizing, finding patterns or sentiment from large amounts of unstructured text,” Sieber said.

“Basically what you’re doing is throwing newspaper articles into a bucket, and you see what comes out.”

Sieber said his team will take results from previous articles and today’s social media and compare them to corresponding weather records to identify people’s responses to weather events over time.

The McGill Observatory records are the longest and most detailed uninterrupted written records of weather patterns in Canada and contain a massive amount of information, Sieber said. Weather recording began there in 1863 and continued until the 1950s.

“These data are the only direct measure of climate change we have. [in Canada]”, Sieber said.

Optimize energy consumption

Some Canadian companies are using AI to minimize waste and build more energy-efficient infrastructure.

Scale AI, a Montreal-based investor group that funds supply chain-related projects, has worked with grocery chains such as Loblaws and Save-on-Foods to identify buying habits. Thanks to AI, companies are able to better forecast demand and less food is wasted, said Julien Billot, CEO of Scale AI.

“Every optimization we can achieve improves the resilience of supply chains and contributes to the use of fewer resources,” she said.

Another Montreal company, BrainBox Al, focuses on improving energy efficiency by optimizing HVAC systems in commercial buildings.

The machine learning technology is contained in a 30cm wide box that connects to a building’s HVAC system. It raises or lowers temperatures based on data inputs such as weather forecasts, utility prices, and carbon emissions calculations.

BrainBox AI technology optimizes a building’s HVAC system using data such as weather forecasts and utility prices. (AI BrainBox)

The system was able to reduce the energy consumed by some HVAC systems by 25%, said BrainBox CEO Sam Ramadori, and within two years the company had installed the technology in 350 buildings in 18 countries.

“The same type of intelligence that we bring to buildings probably has an infinite number of applications. Just pick a sector,” Ramadori said.

“How we make cement, how we ship goods – all of this needs to be made more efficient over time as part of the fight against climate change.”

According to Ramadori, BrainBox AI is working on technology that will allow buildings to connect to each other and communicate with energy networks through the company’s cloud server.

Researchers work in the BrainBox AI office. (AI BrainBox)

This has the potential to minimize energy waste city-wide, as energy networks more accurately detect where and when electricity is needed, he said.

“The power grid can say, ‘Hey, the next two hours are going to be busy. I need you to find a way to reduce consumption.’ And with the AI ​​brain on top, it’s able to say, “OK, I can scale down a little here and a little there. I got you covered,” Ramadori said.

Fairness Limits to AI

Access to the kind of AI that can help solve climate-related problems is not equal across the world.

Wildfires in North America, for example, tend to get more attention from developers than locust infestations in East Africa, said David Rolnick, an assistant professor of computer science at McGill. and member of Mila.

“How climate change affects a community varies greatly between different geographies,” said Rolnick, who is also president of Climate Change AI.

David Rolnick, an assistant professor at McGill University’s School of Computer Science and a member of Mila, said relying on AI to solve climate-related problems raises some equity concerns. (Guillaume Simoneau)

AI technology relies on datasets, and many communities don’t have access to enough robust data needed to create machine learning algorithms, Rolnick said.

In Canada, some Indigenous and remote northern communities still face significant digital divides compared to other parts of the country, he said.

“Working to democratize this is fundamentally important,” Rolnick said.

Rolnick co-authored a study last year outlining various limitations to implementing AI for climate change solutions in Canada. He called for increased funding for AI research and more AI education in primary and secondary education, as well as standards and protocols for sharing data related to climate projects.

Rapidly implementing large-scale AI literacy programs for policymakers and leaders in climate-related industries could help “demystify” AI, the report says.

“We often see a lack of relevant knowledge, and educational programs can help people understand what these tools can and cannot do,” Rolnick said.

AP-SECM identifies 228 industrial units as having the potential to become DCs under the PAT program

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The PAT program is a program launched by the BEE to reduce energy consumption and promote better energy efficiency among specific energy-intensive industries in the country.

The PAT program is a program launched by the BEE to reduce energy consumption and promote better energy efficiency among specific energy-intensive industries in the country.

The The State Energy Conservation Mission (AP – SECM) identified 228 industrial units, including 85 new ones, as having the potential to become Designated Consumers (DC) under the Perform, Achieve & Trade (PAT) program and submitted the proposal to the Office of Energy Efficiency (BEE) for their approval (as DC).

They come from the chlor-alkali, tertiary buildings, aluminum, cement, steel, spinning and textile, petrochemical, automotive, ceramics, food and fishing.

The PAT program is a program launched by the BEE to reduce energy consumption and promote better energy efficiency among specific energy-intensive industries in the country.

SECM CEO A. Chandra Sekhar Reddy said in a press release that Chief Secretary (CS) Sameer Sharma recognized the PAT as an excellent program in the field of energy efficiency, while stressing that 36 major industrial units of the state achieved savings of 0.818 million. Tonnes of Oil Equivalent (MTOE) of energy worth Rs 5,709 crore over the past few years by implementing energy efficiency measures under the PAT scheme.

Energy savings at the national level amounted to 24.5 MTOE, which contributed to reducing energy intensity, production costs and increasing productivity in industries.

The SC was quoted as ordering all district collectors and heads of departments to immediately form energy conservation cells in coordination with the SECM, and thanking the Secretary of the Ministry of Energy Alok kumar and the Director General from BEE Abhay Bakre for their support in the implementation of the PAT program. .

He advised all departments to conduct quarterly energy efficiency reviews and prepare action plans for their effective implementation under the guidance of Special CS (Energy) K. Vijayanand.

Career fair to be held at Elgin Community College on September 8; South Elgin Police are holding a blood drive on Wednesday; Hanover Township, DuPage County offers energy aid – Chicago Tribune

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A job fair will be held from 10 a.m. to noon on Thursday, September 8 at Elgin Community College, Building E, 1700 Spartan Drive.

The event will offer on-site interviews with local businesses. It is hosted by State Representatives Anna Moeller, D-Elgin, and Maura Hirschauer, D-Batavia; Meaning States. Cristina Castro, D-Elgin and Karina Villa, D-West Chicago; and the Illinois Department of Employment Security.

Job applicants are encouraged to bring their resume.

Employers who will be on site include Suncast, Elgin Sweeper, Jel Sert, JP Morgan Chase, Ecker Center for Behavioral Health, Ascension St. Joseph Hospital, SAS Retail Services, Reyes Coca-Cola Bottling, KCT Credit Union, International Paper, Illinois Department of Corrections, Department of Children and Family Services, Department of Human Services, Department of Juvenile Justice and Illinois Emergency Management Agency.

The free event is open to the public. For more information, email [email protected] or call 331-465-9661.

A new Downtown Elgin Welcome Guide is now available at the Downtown Neighborhood Association office, 31 S. Grove Ave.

The guide provides information on what downtown has to offer and includes details of downtown attractions, businesses and events.

There are also coupons that can be used at Elgin Public House, Red Poppy Bistro, Steep N’ Clay, Whatnots & Whimsies, State Street Market Shops, Elgin Symphony Orchestra, Lincoln Avenue Barbershop, Stay Sharp Cuts & Shaves and Ruben Ramos Photography.

For more information, email [email protected]

Peggy Heinrich, Vice President of Teaching, Learning and Student Development at Elgin Community College, is one of 31 individuals selected to receive a 2022-2023 Aspen Institute College Excellence Scholarship.

The Aspen Rising Presidents Scholarship Program, conducted in conjunction with the Stanford Educational Leadership Initiative, is designed to prepare the next generation of community college presidents for the work needed to achieve higher and more equitable levels of student achievement, said the ‘organization.

Those chosen for the 10-month program will learn how to research, define and evaluate student success and clarify their vision for their students’ success in college and after graduation, officials said.

Hanover Township and DuPage County Community Services are scheduling in-person and telephone appointments for the Low-Income Home Energy Assistance Program (LIHEAP) and the Income-Percentage Payment Program (PIPP) ), which help income-eligible households pay for home energy services.

Staff from both organizations will begin accepting applications on Thursday, September 1 from eligible households.

Applicants must live within the Hanover Township or DuPage County boundaries and provide all required documents at the time of the appointment. This includes proof of social security cards for all new applicants; proof of gross income for all household members for the last 30-day period; and copies of current gas and electricity bills.

The maximum monthly gross income to qualify for either program is $2,265 for a one-person household, $3,052 for a two-person household, $3,838 for a three-person household. persons and $4,625 for a four-person household.

Adults 55 and older should call the Hanover Township Senior Center in Bartlett at 630-483-5660 for an appointment. Residents under 55 should call the Hanover Township Astor Avenue Community Center in Hanover Park, 630-540-9085.

For the 12 DuPage County Community Services locations people can call to apply, go to www.dupagecounty.gov/LIHEAP/.

For more information, call 630-407-6500 or 1-800-942-9412 or email [email protected]

The South Elgin Police Department will be holding a blood drive from 3-7 p.m. Wednesday, August 31 at Village Hall, 10 N. Water St.

Versiti Blood Center of Illinois will provide water bottles and sticker sheets to all donors. Participants should drink water and eat a healthy meal before donating blood.

To make a reservation to donate, call 800-7TO-GIVE or visit donate.illinois.versiti.org/donor/schedules/drive_schedule/5601788.

The Village of South Elgin will host two free midday performances in September at Panton Mill Park, 10 N. Water St.

Rosie & The Rivets will play 50s and early 60s rock music from 11 a.m. to 12:30 p.m. on Wednesday, September 7.

The Flat Cats, who play vintage swing, jazz and blues, will perform from 11 p.m. to 12:30 p.m. on Sunday, September 11. Concessions will be on sale during this show.

For more information, call 847-742-5780 or email [email protected]

Ramesh Shah, author of “Tomorrow Will Be a Better Day,” will share his experiences as an immigrant to the United States in 1967 at 7 p.m. on Tuesday, September 6 at the St. Charles Public Library, 1 S. Sixth St.

He will discuss the poverty of the back streets of Bombay (now Mumbai) and the strong family ties that helped make his life as a child bearable, library officials said.

For more information or to register, call 630-584-0076.

The Kane County Forest Preserve District will host “Trek with a Naturalist” hikes this fall.

Each month there will be a two-hour trek to a different forest reserve led by a naturalist from the forest reserve district, who will interpret the ecology of the reserve along the way.

Hikes are scheduled from 4:30-6:30 p.m. Thursday, Sept. 15 at Elburn Forest Preserve at 45W061 Route 38 in Elburn; 4-6 p.m. Thursday, Oct. 20 at Voyageur’s Landing Forest Preserve at 50 Airport Road in Elgin; and 9 a.m. to 11 a.m. Saturday, November 5 at Aurora West Forest Preserve at 40W032 Hankes Road in Aurora.

The programs are free and open to anyone 18 or older. Advance registration is required by calling 630-444-3190 or emailing [email protected]

For more information, visit www.kaneforest.com.

UK landowners hold all the cards – so bad luck for others | Philippe Inman

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With rising gas and electricity prices taking center stage after Ofgem set the energy price cap in October at £3,549, it is interesting to see how others sectors of the economy reacted little.

An abundant supply of cheap energy has underpinned every period of national income growth for the past 70 years and the prospect that what was once ubiquitous and low cost will become a major financial burden is one of the main reasons why many economists predict that a recession will begin this fall and throughout next year.

For the moment, these same forecasters do not expect the fall in GDP to be very deep. And that’s because so many other elements that underpin economic activity are expected to remain in poor health.

One of the pillars of growth is the real estate market. House price increases may have slowed in many areas, but they remain positive and continue to drive values ​​in coastal hotspots and desirable cities and suburbs to record highs.

Residential rents are also rising after a brief dip during the pandemic. Across the country, leasing agents are so busy that their rising commissions threaten to match the growth in mega-bonuses paid to investment bankers and private equity executives.

Despite talk of leveling, London’s rental market has seen monthly rates soar into double digits to cement the capital as a top destination for young professionals. In July, as much of the country worried about utility bills crippling their personal finances, rents in the capital rose 23% year on year, according to property agency Foxtons, which says the number of tenants competing for each property increased by 27% over the same period.

The national average increase in rents charged by landlords was 11.8%, says online agency Rightmove, pushing ‘asking rents’ outside London to another new record, of £1,126 per month. In London, that monthly figure has risen to £2,257, with annual growth in asking prices now exceeding 15% in the capital, the highest annual rate on record across any region, according to Rightmove’s calculation.

Renters regularly say that there are 10 or 15 people showing up to view a property, such is the competition to get a house in London. Much the same is said in other parts of the country, where the rents may not be so high, but the competition is just as fierce.

One of the reasons for the sustained rise in rents is figures showing a 40% drop in the number of apartments and houses available for rent in the capital. The same decline can be seen in other regions and even more so in the number of real estate purchases since a high point last year. Home purchases have halved since the spring of 2021, when Rishi Sunak ended a temporary stamp duty reduction.

Landlords are able to play a sophisticated game to maximize the value of their assets: make them available to rent or buy when the price is right, and retire them when it falls below their expectations.

There was a time when real estate was seen as an illiquid market, based on assets that were difficult to buy and sell – and that’s still true when compared to stocks and shares. However, the level of sophistication in the private sector – and the dominance of private developers now that public and social housing are fixed, adding little more to the housing stock each year – means that prices can be kept high indefinitely. Only a rise in unemployment can call into question the plan of private landlords to maintain price growth and limit the potential fall in rental values.

So far, the job market has proven to be robust. And while a recession is likely to push more people out of work, current demand for homes to buy and rent will have to fall to affect prices. The Bank of England estimates that the unemployment rate will rise by around two percentage points over the next 18 months, from its current 40-year low of 3.8%.

Central bank officials are among the most pessimistic forecasters, but even this higher level of unemployment and their own interest rate increases should not scare the market.

Surveyed by Rightmove in June, more owners (34%) said they planned to expand their portfolios over the next 12 months than they said they would shrink (11%) and he revised its forecast growth in asking rents of 5% to 8%.

Like the energy market, the real estate market is now well and truly rigged in favor of landlords and against their customers. Average monthly rents are now 40% higher than 10 years ago. After 12 years of Conservative rule, this is yet another economic statistic that puts the government to shame.

I will no longer pay my energy bills | Inflation

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On October 1 this year I will stop paying my energy bills under Don’t Pay UK. That’s when an 80% increase in current tariffs will come into effect, the UK energy regulator confirmed on August 26.

I am one of 120,000 people who have joined this movement, which aims to raise the voices of ordinary UK residents who fear for their future as energy companies rake in huge profits.

I am not an activist and have never been a campaign organizer before. Don’t Pay UK is the perfect platform for me – we don’t block streets, we don’t stop anyone from getting to work. We are normal people.

I live in Hull and have a very typical family with a wife and two children, a little vanilla, actually. We have a boy and a girl; our youngest will be two next month and our oldest will be five. We had our children relatively young: I was 26 and she was 21 when we had our first.

I am an information technology consultant working for the public sector and my wife works in financial services. We are both very lucky – I got a raise in April and my wife started her job in January. We are paid much more than we would have ever thought at that time.

I worked my way up, starting with a junior project administration position and then working my way up to become a project manager. But the cost of living is slowly rising behind me – just as I’m getting to a point in my career where I’m doing really well.

At the same time that I got my raise, the price of food and energy jumped drastically. Our nurseryman has raised his prices. Everything is mounted. So we didn’t feel the salary increase. Almost every month we run out of money. We are still living check to check.

Every month, the week before payday, I find myself thinking about how we have leftover food; that we can’t go to the shops for a pint of milk.

We do not live lightly. My wife and I haven’t taken a vacation since we’ve been together – and we’re both living healthy lives. We don’t take the kids somewhere every month for an exotic experience. And yet, the cost of living catches up, every time something good happens. We simply cannot break this cycle.

Our landlord has a five year fixed mortgage and told us up front that he would not sell the house until the end of the term. So the clock is ticking – we have limited time to spare for a deposit. We take all the steps you expect to take in your thirties. But every time we try to save money, it just gets eaten up by energy bills, and we know it’s going to get worse. I already have a debt with my energy company, before the prices increased on October 1st. That’s because every three months in England, Scotland and Wales the maximum amount suppliers can charge is adjusted.

Regulators said the average energy bill will hit 3,549 pounds ($4,164) in October this year, up from 1,400 pounds ($1,642) a year ago. And in January 2023, it is expected to rise to 4,266 pounds ($5,005).

These higher prices mean exorbitant profits for energy companies like Centrica, Shell and BP. Shell reported second-quarter profits of $11.5 billion last month. BP made its biggest quarterly profit in 14 years.

But Shell paid no tax on its UK oil and gas production in 2021. Shell and BP also paid no corporation tax or production tax on the oil they bought in North Sea between 2018 and 2020.

We cannot continue to hand over our salaries to these companies so they can protect their profits and shareholder payouts, while thousands of people across the country die each year because they cannot heat or cool their homes. .

We know that there is a concerted effort on the part of this government to shift wealth and money from people – your average working-class, middle-class citizen – down to a small percentage of wealthy people. Look at the cuts in services over the past decade.

I know this is a global energy crisis, but we watch other governments and see them take action to look after their citizens. The French government has banned EDF in France from raising its prices by more than 4%. EDF in England was able to raise its prices by 54% in April and will be able to charge even more in October.

It’s as if in this country, wealth moves up the ladder and doesn’t trickle down. Average Britons pay extra to supplement the profits of energy companies.

That’s why it’s so important to join Don’t Pay UK. We must make this government understand that it can no longer gamble with our lives. The government will use scare tactics, trying to scare us into paying the bills. They will notify us that our credit rating is affected. But I know I can’t afford higher bills – my credit rating will already be affected.

Last winter, the British government offered people a measly loan of 200 pounds ($236) to pay their energy bills. More recently, the government announced a £400 ($472) grant to British families to pay their energy bills, while unveiling a one-off 25% tax on the profits of oil and gas companies. Yet he must do more.

What we want is for the government to bring the cap on energy prices down to something everyone can afford and introduce a bigger windfall tax for energy companies that are making record profits.

In the long term, the government can reduce bills by investing in insulation to reduce energy consumption and consider putting essential services like power and water into public hands. It’s essential. When billionaires profit from electricity and water, their motivation will always be to do the least to get the most. Energy companies will therefore want to raise prices every year.

The goal is to charge the consumer as much as possible – while spending the least on infrastructure and their workers – in order to maximize their profits.

The vast majority of us will be seriously affected by the rising cost of living – which means we have immense power if we act together in the millions. If we don’t unite, the bills will continue to rise. And we cannot exceed these bill increases.

Food banks in the UK are running out of food and turning people away. People have to choose between paying their energy bill or feeding their children. The Don’t Pay UK campaign is our last resort. It’s the only choice we have.

The opinions expressed in this article are those of the author and do not necessarily reflect the editorial position of Al Jazeera.

Transition start-up problem or permanent disaster?

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Politicians, regulators and grant seekers describe the current difficulties in the energy market as part of the transition from fossil fuels to renewables – and perhaps to more exotic forms of energy derived from fossil fuels. extraction of hydrogen from water.

They go on to say that transitions always involve start-up difficulties.

It’s wrong.

In the past, transitions from horse-drawn transport to trains, motor vehicles and airplanes only meant benefits for consumers. Indeed, producers have easily adapted to the evolution of technology. This was also seen in the progression from sailing ships to steamships and from the abacus to the mechanical calculator to the computer. The transition from obtaining energy, heat and light from wood and water mills to coal, oil and gas was equally painless and was essential to establishing a standard of living modern.

Today’s “energy transition” is driven by governments – there is probably not a single megawatt of wind/solar power in the world that has been built without subsidy. The flippant statements about cheap renewables are based on estimates of their costs without including the vastly increased transmission expense they entail (according to the Australian government this would represent a fourfold increase in the cost of the current grid) and the costs filling the inevitable supply gaps with intermittent wind and solar inputs.

Unlike an “energy transition” force-fed by heavily subsidized wind and solar generation, governments have played a passive role in previous transitions. These transitions were driven by entrepreneurial innovations adopted by customers because they were cheaper or had other superior characteristics. Among the latter was greater reliability – a serious shortcoming of an energy system converted from fossil fuels to wind/solar.

The latest wasteful spending program pursuing ‘energy transition’ goals bears the oxymoronic name of America Inflation Reduction Act. This will increase spending by $369 billion for “investments in energy security and climate change.” US Energy Secretary Jennifer Granholm hailed the law’s support for Battery. Banely, she said that batteries complement wind and solar by storing their energy when there is insufficient wind or sunlight, adding, “When you combine wind or solar with battery technology, it becomes as a reliable staple food, which is very exciting.

There is very little analysis of what the US measures actually entail in terms of associated costs. In global terms, thunder said energy estimates that the electricity grid would cost four times its current costs, even to accommodate a 25% share of renewables. This is because the power is less concentrated, irregular, and must come from more dispersed locations than is the case with large coal, nuclear, or gas-fired generators.

For Australia, Global-Roam (forty minutes) estimates that even with a perfect system, the equivalent of 25 Snowy 2s or 70,000 Hornsdale-type batteries would be needed to firm up an exclusively wind-powered production system. Even so, the result would still mean less reliability than it does today. Based on Global-Roam’s analysis, the total cost (and therefore prices) would be approximately 4-5 times that of the system we are transitioning from.

According to Global Roam estimates, James Taylor, criticizing the Australian power market operator’s recently published Integrated System Plan (ISP), concludes that at least 7980 GWh would be needed instead of the ISP’s 319 GWh. Cost estimates for this battery backup scale would be in the range of $5-7 trillion. As the batteries would be on a 10-year replacement cycle, the cost would be $500-700 billion per year, or more than a quarter of GDP each year. Then there is the cost of the additional transmission and the wind/solar units themselves!

The modern standard of living depends on a cheap and reliable energy supply. But the ill-informed biases of electorates and pressures from the vested interests of the wind/solar industries have caused politicians in Western democracies to aphasia towards the energy industry.

Accustomed to market forces mitigating the adverse effects of policy interventions and appeased by unrealistic cost estimates of wind/solar supply, governments have embarked on a radical transformation of their energy supply industry. This has involved renewable energy subsidies and regulatory impositions or outright bans on the use of coal, gas and uranium. These measures force the closure of coal and nuclear power plants. The resulting increase in generation costs is compounded by increased network costs.

The results are now visible in soaring electricity (and gas) prices that are undermining living standards both through its direct effect on household energy bills and through increased input costs for all goods. The reduction in gas supplies to Russia is only one catalyst for this development.

Do you have something to add ? Join the discussion and comment below.

When it comes to war crimes, we all live in glass houses

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Wikimedia Commons##Inspecting rubble after an attack on Iraqi targets in preparation for the 2003 invasion.

The moral sins of the past never excuse those of the present, but they sometimes haunt us. Vladimir Putin’s continued and ruthless invasion of Ukraine may bring us some moral clarity, but not necessarily our comfort.

It should open our eyes to the tangled web, woven over decades, in which we are now trapped. But untangling the Web first requires recognizing our own role in weaving it.

We read the enormous number of sorties and civilians killed in recent months in Ukraine with just indignation. Yet we flew more sorties and dropped more bombs on Iraq in the first 24 hours of our war in 2003 than Putin did in his first month in Ukraine.

How many Iraqi civilians have been displaced? How many died from concussion bombs? How many died in the months that followed when hospitals, sewage systems, water supply systems and other basic infrastructure were disrupted?

We say Putin is waging a war based on lies, but what about the lies that the George W. Bush administration used to justify America’s second war in Iraq?

The 9/11 attack was perpetrated by al-Qaeda, not by Iraq. Furthermore, the first Iraq War, fought under former George HW Bush, had left Saddam Hussein isolated and contained.

We based the 2003 invasion on false allegations about Iraq’s nuclear weapons program and 9/11 culpability. And that included the specious fixation of intelligence that Colin Powell presented to the United Nations in an effort to justify and build support for military action.

Joe Biden calls Putin a war criminal. Wouldn’t that make one of George W. Bush too?

We have long refused to sign the Rome Statute authorizing the International Criminal Court. Is it because we know that American leaders might behave in a way that would drag them down?

We are signatories to the United Nations Charter, which strictly prohibits wars of “unprovoked aggression”. This label clearly corresponds to our invasion of Iraq in 2003, a war that directly and indirectly claimed the lives of 900,000 people, according to relatively conservative estimates.

I am not trying to excuse Putin by highlighting the actions of young Bush. I think they both belong to the dock in The Hague.

However, our moral weight against Russia would now be stronger if we had not killed hundreds of thousands of people in a war based on lies – lies that exploited heightened American fears after 9/11 to support many long wars, enormous suffering and unnecessary draining of national resources. .

Why Western apathy? Why do US officials get a free pass when others don’t in similar circumstances? Deep-rooted Western racism is one of them.

The lives of Iraqis, Syrians and Afghans simply do not have the same importance as those of white Europeans. This is how Putin managed to destroy one of the world’s most beautiful and historic cities in Syria – Aleppo – without the West realizing what had been lost.

The West let Putin march on Aleppo because it has an ingrained cultural pattern of exempting the privileged from acts against the unprivileged. You face more consequences for driving 38 into a 25 zone than for illegally destroying a country of 25 million, as long as you choose the right country.

In fact, the 9/11 attack and our subsequent wars in Iraq and Afghanistan all stemmed from the first war in Iraq. This one was carried out largely out of fear of the control of fossil fuels in Kuwait – not so much our supply as that of our allies, and the impact its cutoff would inflict on Western economies.

The war broke out three years after I spent the miserably hot summer of 1988 in Boston reading about global warming for the first time. But we had already decided long before that that we were not going to take any significant action. The fix was already in place.

I remember when Jimmy Carter had solar panels installed in the White House.

In the midst of the oil crisis of the 1970s, we briefly concerned ourselves with energy conservation and security. But Carter was mocked for solar action, and in response, Ronald Reagan made overconsumption and environmental destruction the bulwarks of conservative identity.

The United States can produce all the oil it wants at home, but if other countries stop pumping, world prices will continue to rise. Because economies are now so interconnected, if one of them stops producing, prices go up.

Unfortunately, fossil fuels are a resource often controlled by bad actors, including Saudi Arabia, Iran and Russia.

But sometimes the behavior of western producers is no better. All seem ready to sacrifice the future of our children on the altar of shareholder dividends.

Europeans also bear the responsibility of tapping into the poisoned wells of repressive fossil fuel states.

For all their supposed sophistication, how foolish is it to depend for your energy supply on a mobster whose inveterate brutality includes war, assassination and dictatorship? Don’t ask what the Germans were thinking, because clearly they weren’t.

American consumers help and encourage this by continuing to favor large, inefficient vehicles, even as they lament painfully high gas prices. Now, it seems, half of the American electorate has decided to get an equity card and join the bad actors guild.

Putin weighed in on Trump’s four-year run for president, as well as the ensuing insurgency on Jan. 6, which was excused if not applauded by much of the Republican Party. He concluded that American democracy was moribund, leaving Ukraine ripe for the picking.

And why not? Putin’s assessment of our republic’s malaise may not be so far off. Remember, Trump initially called Putin’s invasion of Ukraine “brilliant” and 30 GOP senators voted against a Ukraine aid package.

So here we are sitting, with a story like the ramblings of the guy at the end of the bar that should have been cut long ago. Two nuclear powers that are at odds for the foreseeable future because we don’t care enough about our children to find ways to divest, wrest, or lure nuclear weapons from thugs.

In the midst of it all, we have conservatives who speak inconsistently about non-issues like critical race theory and LGBTQ themes in books.

As a college student in the fall of 1988, alarmed by new climate reports, I remember expressing hope to my Greek teacher that we would take action. He replied cynically but presciently:

“We’re not going to do anything,” he said. “We’ll just stumble until the day we wake up and…”

That’s where he cut off, intentionally letting me fill in the rest of the story. I’m sorry to say, I just did.

Originally from Oregon, guest writer Steve Rutledge moved to the East Coast to earn degrees in Latin, Greek and history at the University of Massachusetts, then a doctorate in classics at Brown University. After 17 years in the classics department at the University of Maryland, he took early retirement in 2012 and returned home. He is now an adjunct professor at Linfield, specializing in history and ancient languages. He has published three books and numerous articles on ancient Roman history and literature.

Hero Group: KKR plans to invest $400 million in Hero Future Energies

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KKR and Co. is in advanced talks to invest around $400 million in Hero Group’s renewable energy company Hero Future Energies (HFE), in what would be the private equity manager’s biggest check so far. in India’s clean energy space, aware people have said. of development.

The final rounds of negotiations are underway before an official announcement, expected in a few weeks. The investment is for a significant minority stake, but comes with significant governance rights that would make KKR a co-promoter with founding chairman and chief executive Rahul Munjal. Munjal is the nephew of Pawan Kant Munjal, Chairman and CEO of

. The investment will largely be a primary injection to reduce debt and grow the business. JP Morgan is advising on the transaction.

KKR declined to comment.

Rahul Munjal and his spokesperson did not respond to ET questions.

Valuation may exceed one billion

Besides the Hero Group, the International Finance Corporation (IFC) is an investor in the company, alongside Masdar, also known as Abu Dhabi Future Energy Co., which acquired a 20% stake for 150 million dollars in November 2019, valuing the new Delhi-based company at $750 million. KKR’s cycle should see the valuation cross the $1 billion threshold.

KKR will use its infrastructure fund as a vehicle for this investment. But it will be kept apart from Virescent Infrastructure backed by KKR, which manages the Virescent Renewable Energy Trust, India’s first renewable energy infrastructure investment fund (InvIT). It is not yet clear whether KKR will later integrate one of its limited partners or a co-investor.

Decade-old HFE operates in the wind, grid-connected solar, rooftop and energy storage sectors and has a portfolio of 1.5 GW of assets in operation and 1. 5 GW additional under construction. According to its website, the company has a 500MW pipeline of utility-scale grid-connected solar projects in Europe, Africa and South Asia. It aims for a capacity of 5 GW by 2024. In 2021, HFE had sold a 49% stake in two of its projects totaling 500 MW to O2 Power.

Wholly owned subsidiaries of HFE include Hero Wind Energy Pvt Ltd (HWEPL), Hero Solar Energy Pvt Ltd (HSEPL) and Hero Rooftop Energy Pvt Ltd (HREPL). These in turn house the various individual projects as Special Purpose Vehicles (SPVs) created to undertake wind and solar power projects.

Earlier this year, the company partnered with US-based Ohmium International to set up 1GW of green hydrogen production facilities in India, the UK and Europe. Last month, the company was awarded a contract to build a 10 MW grid-connected energy storage plant in Kerala by the Kerala State Electricity Board.

The operational portfolio includes over 580 MW of wind capacity in Rajasthan, Maharashtra, Tamil Nadu, Karnataka, Madhya Pradesh and Andhra Pradesh, and over 950 MW of solar capacity in Madhya Pradesh, Telangana, Andhra Pradesh, Karnataka and Rajasthan on December 31, 2021. It has entered into long-term power purchase agreements with distribution companies in Rajasthan, Karnataka, Madhya Pradesh, Andhra Pradesh, Maharashtra, several industrial and commercial customers private companies and Solar Energy Corporation of India (SECI). Diversifying assets in terms of location and presence of strong counterparties reduces associated credit risks, experts said.

According to Crisil Ratings, the holdings of the Hero Future Energies platform are majority owned, directly or indirectly, by the promoters of the Hero group.

“These entities derive their strength from their respective 20% and 13.99% stakes in Hero MotoCorp,” said Crisil analyst Manish Gupta.

These promoter entities funded the initial capital requirement for the platform.

“The presence of Munjal family members on the board of group companies confirms the importance of the business to the Hero Group and the Munjal family,” Gupta said in a report in April. “The market coverage of HFE holdings decreased from 5.2 in September 2021 to 3.8 as of March 23, 2022, mainly due to the decline in market capitalization of Hero MotoCorp. The planned capital injection into HFE by its shareholders will mainly be used to reduce the debt of the holding companies by September 2022.”

Over the past three months, Hero MotoCorp stock has appreciated 7%.

HFE is expected to have debt service cash flow of over Rs 1,275 crore in FY23. This will adequately cover its long-term debt of around Rs 1,010 crore. In addition, HFE had cash and cash equivalents of over Rs 720 crore on a consolidated basis as of March 23, including unencumbered cash of Rs 499 crore. The holding companies had unencumbered cash of around Rs 320 crore on March 23, according to Crisil’s calculations. Market coverage of consolidated debt was 3.8 times as of March 23.

“For KKR, this is a great platform to build on as the investment helps Hero Future Energies (HFE) deleverage and the primary infusion aid in growth plans,” one person said. aware of the investment thesis on condition of anonymity.

Last year, KKR raised a record $3.9 billion Asia-Pacific debut infrastructure fund. It followed this year with a $17 billion Global Infrastructure Fund, surpassing the original target of $12 billion.

KKR Infrastructure Fund’s first transaction in India was a co-investment in May 2019 with Singapore’s GIC in Indigrid, an operator of 11 power transmission assets, where it invested $148 million. In April 2020, it acquired five operational solar power assets from Shapoorji Pallonji Infrastructure Capital (SP Infra). It transferred those assets to Virescent Infrastructure, the KKR renewable energy platform launched in October. It entered the Indian highway business by signing definitive agreements to acquire Global Infrastructure Partners’ entire stake in Highway Concessions One (HC1) and seven highway assets totaling 487 km for an undisclosed amount.

Ukraine’s largest nuclear power plant is cut off from the power grid

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Comment

KYIV, Ukraine – Ukraine’s largest nuclear power plant has been cut off from the country’s power grid, causing a massive power outage in the adjacent area after fires damaged its last working transmission line, it said on Thursday. the Ukrainian nuclear company.

Emergency backup systems kicked in and helped maintain crucial operations, but the incident heightened fears of a disaster at the Zaporizhzhia Nuclear Power Plant (ZNPP), which is also the largest nuclear power plant in Europe and is located in an area occupied by invading Russian forces. .

Fighting near the plant has sparked serious concerns about a potential disaster and urgent calls from many world leaders for UN nuclear experts to be allowed to visit the site.

Russian and Ukrainian officials have swapped responsibility for the bombing of the plant, which they say led to the disconnection of the power grid – the first time it has been cut.

In a dramatic speech on Thursday, Ukrainian President Volodymyr Zelensky said back-up systems had already narrowly prevented a radioactive calamity.

“Today, for the first time in history, the Zaporizhzhia nuclear power plant shut down,” Zelensky said. “Emergency protection of the generators worked, after the last line of work for the return of electricity from the power plant to the Ukrainian power system was damaged by Russian shelling.”

“Diesel generators were immediately activated to provide power to the plant itself, to sustain it after shutdown,” Zelensky continued. “The world needs to understand what a threat this is: if the diesel generators hadn’t turned on, if the automation and our plant personnel hadn’t responded after the power outage , we would already be forced to overcome the consequences of the radiation accident Russia has put Ukraine and all Europeans in a situation on the verge of a radioactive disaster.

Zelensky and other officials have repeatedly warned in recent weeks that a disconnection of power and transmission lines could lead to an extremely dangerous situation by disrupting the normal operation of the plant and making it difficult to cool the reactors.

“The actions of the invaders caused a complete disconnection of the ZNPP from the power grid – for the first time in the history of the plant,” Ukraine’s nuclear energy company, Energoatom, said in a statement.

On Thursday morning, the mayor of Enerhodar, where the plant is located, said the town was “on the brink of a humanitarian catastrophe” as the bombings left it without electricity and water. He later said authorities were working to restore power to the city.

The Russian-installed “governor” in the occupied region, Yevhen Balytskyi, blamed the Ukrainian military for the blackouts. The accusation was picked up by Russian news agency RIA Novosti, which said shelling by Ukrainian forces caused a short in the grid, leading to “a power outage in the Zaporizhzhia region”.

Inside the nuclear power plant captured by Ukraine, explosions and constant fear

The nuclear power plant is now supplied by a nearby geothermal power plant, and Enerhodar, under Russian control, should regain its electricity in a few hours, an Energoatom spokesman said.

Ukrainian plant workers continued to keep the nuclear site operational under the control of the occupation authorities.

The Zaporizhzhia power plant is a major source of energy for Ukraine. Before the Russian invasion on February 24, it provided a fifth of Ukraine’s electricity and almost half of its nuclear energy.

Residents of Niu York, Ukraine, spoke Aug. 25 about life on the front lines of war, living under the threat of bombing and a gas shortage. (Video: Reuters)

US Under Secretary of State Bonnie Jenkins, a top arms control and international security official, told reporters on Thursday that she was aware of reports of a power outage but could not not confirm them independently.

Jenkins renewed his calls for the Russian military to vacate the plant and allow visits by international nuclear experts, saying a power outage can have an “immediate impact, obviously” for Ukrainian citizens.

In a statement, Rafael Mariano Grossi, director general of the International Atomic Energy Agency, the UN’s nuclear watchdog, said the plant lost power twice during the day. , but that she was currently back.

Grossi said the incident further underscored the “urgent need for an IAEA expert mission to visit the facility.” He said he was ready to go there himself in the coming days.

“Almost every day a new incident occurs at or near the Zaporizhzhia nuclear power plant,” he said. “We can’t afford to waste any more time. I am determined to personally lead an IAEA mission to the plant in the coming days to help stabilize the nuclear safety and security situation there.

Zelensky, in his Thursday evening speech, reiterated his demand that Russian forces leave the area around the plant and appealed for international support. “International pressure is needed,” he said, adding, “The IAEA and other international organizations need to act much faster than they are doing now. Because every minute that Russian troops stay at the nuclear power plant is a risk of global radioactive catastrophe.

Experts are struggling to understand whether the damage to the factory was due to deliberate sabotage or perhaps the result of error by soldiers in the area. They said the presence of IAEA inspectors on site would improve the situation.

“At a minimum, the IAEA can assess the safety of the plant,” said Jon Wolfsthal, former senior director for arms control and nonproliferation at the National Security Council during the Obama administration.

“He can determine whether or not there has been damage to the reactor containment,” Wolfsthal said. “He can determine if backup security systems are online and working. This can provide assurance to Ukrainians and Russians and the neighboring population, as well as the rest of Europe, that there are still several backup systems in place or alert the world if these systems are not in place. .

Karina Tsui in Washington and Robyn Dixon in Riga, Latvia contributed to this report.

Electric/Hybrid – Electric school buses in Massachusetts sent power back to the power grid for more than 80 hours this summer

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The buses returned over 80 hours of power to the power grid for more than 80 hours over the summer, helping to bolster the grid on some of the hottest days when electricity was most in demand.

Working with technology partners Thomas Built Buses, Proterra, Rhombus and Synop, Highland Electric Fleets operated Thomas Built Buses electric buses at 32 network events over the summer, demonstrating the viability of electric buses as V2G assets and providing a model for scaling the service to additional deployments in Vermont, Maryland, Colorado, California, Virginia and beyond.

“Electric school buses are ideal assets for V2G applications,” said Sean Leach, director of technology and platform management at Highland. “Nearly 500,000 school buses in North America spend most of their time parked. Fossil fuel buses offer no value when idle. Electric buses, on the other hand, can be used effectively as mobile batteries when not transporting students to provide additional power that supports grid stability and resilience. We are excited to work with leading partners to expand V2G programs and benefits to other communities. »

Utilities can reduce emissions by using electric school buses as distributed energy resources (DERs) when energy demand increases, rather than using conventional fossil resources for short periods. The Beverly deployment provides critical data that will enable National Grid and other utilities to scale similar V2G programs in the future for more sustainable energy systems.

This is the second summer that electric school buses in Beverly have served as V2G assets: in 2021, Highland coordinated the same partners to use a Proterra Powered, Thomas Built Buses Saf-T-Liner C2 Jouley to return approximately three MWh of energy to the grid over nearly 60 hours spread over 30 events. The cumulative 10 MWh that the buses sent to the grid makes a significant contribution to the energy mix and eases the pressure on the electricity system. According to the State of Massachusetts, the average residential customer uses about 500 kWh per month, or about 17 kWh per day. The 10 MWh (10,000 kWh) of the buses is enough to power nearly 600 households for one day.

Chris Bailey, President of Proterra Powered & Energy, added that communities across the country are transitioning to a 100% clean energy and clean transportation future and that electric school buses can play an important role in driving this change – bringing a cleaner, quieter mode of transportation. transportation for students while supporting a more local and resilient energy system by delivering stored energy to the grid when it is needed most.

The Saf-T-Liner C2 Jouley combines 226 kilowatt-hours (kWh) of total energy capacity from Proterra’s industry-leading battery technology with a Proterra electric drivetrain to deliver up to 138 miles of range to meet the needs of commercial fleets. school buses.

Rhombus Energy Solutions’ 60kW high-power DC fast charger, certified to UL 1741-SA standards, meets rigorous requirements to ensure safe and reliable operation, and can provide bi-directional charging capabilities for up to five buses schools by power control system.

Synop provides fleet managers with an end-to-end solution that helps regulate energy on the grid and provides new financial opportunities for fleets. Between charging management, route planning, energy monitoring and V2G orchestration, Synop automates electric vehicle operations at scale and accelerates commercial electrification.

“For cities looking to optimize their energy grid, V2G is a game-changing technology, and its full potential is only realized when it can be applied to electric vehicle fleets,” said Gagan Dhillon, co-founder and CEO of Synop. “Inter-agency collaboration of this nature is crucial to unlocking this capacity and producing the enormous environmental and economic benefits.”

For more information :

Highland Electric Fleets

CAE Healthcare named Certified Green Business Partner by Sarasota County

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  • Designation based on business activities, waste, water and energy practices
  • CAE Healthcare will hold the title of Certified Green Business Partner until 2025

SARASOTA, Florida., August 24, 2022 /PRNewswire/ – CAE Healthcare announced today that it has been named a Certified Green Business Partner by Sarasota County, Florida, where CAE Healthcare’s US headquarters are located. The green designation is awarded to companies that operate in an environmentally responsible manner, as determined by rigorous evaluation.

“We are honored to be named a Certified Green Business Partner by our local government, which reinforces our commitment to sustainability,” said Jeff EvansActing President, CAE Healthcare. “Reducing our environmental impact is important to our customers and integral to future generations. This is just one step on that journey, as we will continue to identify and implement sustainable practices across the entire workplace.”

To be certified as Green Business Partners, companies must verify conservation practices in four areas: business operations, solid waste management, water conservation and energy use. In addition to CAE completing a detailed application, the University of Florida The Institute of Food and Agricultural Sciences conducted an assessment. The school recognized CAE Healthcare’s recycling initiatives, company policies and the use of energy-efficient equipment. CAE Healthcare will retain the title until 2025.

CAE began its corporate social responsibility journey six years ago, emphasizing ethics and integrity; community and environment; people and safety; and innovation and customer experience. CAE achieved carbon neutrality in 2020, becoming the first Canadian aerospace company to achieve this goal. CAE strives to be a leader in sustainability, working with industry partners to reduce emissions and adopt waste reduction measures.

About CAE Healthcare
CAE Healthcare provides integrated education and training solutions for healthcare students and clinical professionals throughout the professional lifecycle, enabling them to gain hands-on experience in simulated environments before treating patients. CAE Healthcare’s comprehensive suite of simulation solutions includes surgical and imaging simulation, curriculum, the CAE LearningSpace audio-visual and facility management platform, and highly realistic adult, pediatric and infant patient simulators. Today, hospitals, medical schools, nursing schools, defense forces and corporations in more than 80 countries use our training solutions to make healthcare safer. cae.com/healthcare

About CAE
At CAE, we equip people in critical roles with the expertise and solutions needed to create a safer world. As a technology company, we digitize the physical world by deploying simulation training and critical operations support solutions. Above all, we empower pilots, airlines, defense and security forces and healthcare professionals to perform at their best every day and when the stakes are greatest. Around the world, we are wherever customers need us with over 13,000 employees in over 200 sites and training locations in over 40 countries. CAE represents 75 years of industry firsts: the most faithful flight and mission simulators, surgical manikins and personalized training programs powered by artificial intelligence. We invest our time and resources in building the next generation of cutting-edge digitally immersive critical operations and training solutions while keeping positive environmental, social and governance (ESG) impact at the core of our mission. Today and tomorrow, we will ensure our customers are ready for the moments that matter.

Read our FY22 Annual Activity and Corporate Social Responsibility Report

CAE contacts

General media:
Samantha GolinskyVice President, Public Affairs and Global Communications
+1 514 341-2000, extension 7939, [email protected]

Commercial media:
Heidi FedakManager, Creative Services and Communications – CAE Healthcare,
+1 941 914 7781, [email protected]

Investor Relations:
Andre ArnovitzSenior Vice President, Investor Relations and Enterprise Risk Management
+1-514-734-5760, [email protected]

follow us on
Twitter @CAE_Inc
Facebook www.facebook.com/cae.inc
LinkedIn www.linkedin.com/company/cae

SOURCE CAE INC.

Russian LNG projects face lingering uncertainty as Kremlin consolidates control

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President Vladimir Putin’s latest decree to halt sales of Russian energy assets leaves the status and progress of Russian liquefied natural gas (LNG) projects in disarray.

The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already announced its intention to sell its 27.5% stake in the project, but Putin’s decision could ultimately force out two Japanese investors.

The foreign partners of the 9.6 million metric tons/year Sakhalin-2 project, which also include Mitsui & Co. Ltd. (12.5%) and Mitsubishi Corp. (10%), must submit a new application to keep their stakes in a newly created company, Gazprom Sakhalin Holdings before the September 4 deadline. Gazprom PJSC owns a 50% stake plus one share in Sakhalin Energy Investment Co. Ltd. which was transferred to Gazprom Sakhalin Holdings.

[Want to know how global LNG demand impacts North American fundamentals? To find out, subscribe to LNG Insight.]

Japan imports half of Sakhalin 2’s capacity, nearly 5 mmty, and it is uncertain whether Japan will continue to receive shipments for the rest of the year.

Canceling the contracts would force Japan to source alternative supplies in a market where flexible LNG is hard to come by,” Drewry Shipping wrote in a recent note to customers. “Japan will most likely source alternative quantities from the United States, which would force it to compete with Europe for flexible LNG at much higher prices.”

However, Sakhalin-2’s exports to Japan have remained strong this year. From January to July, Japan received about 205 billion cubic feet compared to about 183 billion cubic feet during the same period in 2021, according to Kpler data.

Although Shell announced in February that it would leave Sakhalin-2, it has not recently commented on the status of its stake in the facility. The Japanese government has asked Mitsui and Mitsubishi to keep their shares in Sakhalin-2 despite the potential risks. Complicating matters was a Bloomberg report last week that Russia had asked Sakhalin buyers to pay Gazprombank JSC, which could expose shipments to sanctions.

The Japanese government is working with the public and private sectors to protect business interests and ensure stable LNG supply, Japan’s Trade and Industry Minister Koichi Hagiuda said at a recent press conference.

“Hopefully both companies can retain their stakes in the project as it has been legitimately and rightly developed and maintained,” said Hiroshi Hashimoto, head of the gas group at the Institute of Energy Economics in Japan. Japan. “However, this will depend on the negotiations and it is not guaranteed.”

Yamal LNG and Arctic LNG 2

Independent gas producer PAO Novatek did not release its first quarter financial results. The company said in late July that it also did not plan to release its second-quarter results.

Preliminary volumes of Novatek’s total gas sales, including LNG, fell 4% to nearly 17 billion cubic meters in the second quarter. LNG sales were down about 8% over the same period, the company said in July.

French major TotalEnergies SE will not sell its 20% and 10% stakes in the Yamal and Arctic LNG 2 projects without financial compensation, CEO Patrick Pouyanné told reporters in May.

“We have long-term contracts. The Yamal LNG contract is worth $50 billion. It is out of the question to be charged, in the absence of sanctions, 50 billion dollars,” said Pouyanné.

The Arctic LNG 2 project was expected to reach 20 mmty capacity by 2025, but Western sanctions have seen the project’s development stall. The Japan Bank for International Cooperation (JBIC) implemented a loan freeze on the project and extended the freeze again in June.

Before Russia invades Ukraine in February, the first train was due to start production next year, with trains two and three due to enter service in 2024 and 2026, respectively. Novatek has not received the necessary equipment, which calls into question the construction of the first train at Arctic LNG 2.

Operations are “complicated,” Novatek owner and CEO Leonid Mikhelson admitted in May, saying he could no longer confirm the timeline for the Arctic LNG 2 project.

Plastic Waste Management Market Size, Trends, Business Opportunities, Strategies, Key Players Analysis and Forecast 2027

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Increase in the level of pollution caused by plastic waste, implementation of sustainable development and increased awareness of the dangerous effects of plastic waste

Plastic waste management market size – USD 32.46 million in 2019, market growth – at a CAGR of 2.8%, market trends – Increase in the level of pollution due to the use of plastics »

— Emerging research

VANCOUVER, BC, CANADA, August 23, 2022 /EINPresswire.com/ — According to a recent report by Emergen Research, the entire world plastic waste management market is expected to reach a value of USD 40.80 billion by 2027. Maintaining the reputation of the organization, promoting the idea of ​​sustainable development and limiting the use of plastics are the major factors influencing the market . Plastic reduces soil fertility. All living things on earth are experiencing an increase in mortality due to toxic compounds in plastics.

Over the past ten years, international authorities have organized a number of formal conferences to address the difficult and critical issue of plastic waste management. People’s desire for a decent and quiet existence has increased the demand for products and services. The degree of pollution and waste of products has increased due to the increase in consumption, which has a negative impact on the environment. For the preparation and delivery of alternative energy systems like fuel cells, batteries and even solar energy, plastics are also used.

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In the near future, the global plastic waste management market is expected to remain competitive and highly fragmented, with a number of small start-ups, mid-sized companies and large conglomerates.

The latest research report titled “Global Plastic Waste Management Market – Forecast to 2027” includes a comprehensive review of current and future trends in the global plastic waste management market. The report gathers viable information about the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimates over the forecast period. The study includes an in-depth analysis of this sphere of activity focusing on overall market compensation over the projected period.

The report also discusses key players involved in the market such as Veolia Environnement, SUEZ, Waste Management, Inc, Republic Services, Waste Connections, Inc, Biffa, Stericycle, Clean Harbors, Covanta Holding Corporation, and United Plastic Recycling, Inc., and others as well as new market entrants. The competitive analysis also includes a regional analysis of major geographic regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

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The main findings of the report suggest:

Veolia Environnement and LC Packaging entered into a strategic partnership in May 2019 to reduce the global consumption of flexible packaging. Better services to address waste management challenges would flow from this arrangement. Water management, waste management and energy services are the three service and utility sectors in which Veolia Environnement, a global company headquartered in France, specializes.

Durable plastics, which are typically used in the packaging of everyday consumer products, are often discarded after one use and typically have a lifespan of three years. Automobiles, computers, appliances, carpets and fabrics are examples of convenience items. Because of the performance, affordability, and design benefits of durable items, design engineers, producers, and even customers continue to place high value on them.

Handling plastic waste could make money for the government. The governments of countries in North America and Europe have already put in place tough rules and laws to reduce the level of carbon dioxide emissions. As a result, the market in these areas is firmly established.

Emergen Research has segmented the global plastic waste management market based on polymer type, source, service, application, and region:

Polymer Type Outlook (Revenue: USD Billion; 2017-2027)

Polyethylene (PE)

Polypropylene (PP)

Low density polyethylene (LDPE)

Polyethylene terephthalate (PET)

Polyvinyl chloride (PVC)

Source Outlook (Revenue: USD Billion; 2017-2027)

Residential

Industrial

Commercial

Others

Services Outlook (Revenue: USD Billion; 2017-2027)

Recycling

Energy recovery

Landfills

Application Outlook (Revenue: USD Billion; 2017-2027)

Packaging

Construction

Textile

Building construction

Others

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The report offers an 8-year forecast and assessment of the global plastic waste management market

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In-depth analysis of market drivers, restraints, trends and opportunities

Comprehensive regional analysis of the global plastic waste management market

In-depth profiling of key business stakeholders

Detailed analysis of factors influencing the growth of the global plastic waste management market

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wireless brain sensor market

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Cultural Media Market

https://www.biospace.com/article/culture-media-market-size-to-reach-usd-11-10-billion-in-2028-growing-at-a-cagr-of-9-3- percentage-according-to-latest-analysis-by-emerging-research/

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Gel Documentation System Market

https://www.biospace.com/article/gel-documentation-system-market-size-to-reach-usd-389-7-million-in-2028-growing-at-a-cagr-of-3- 6% according to the latest analysis by Emerging Research/

Phospholipids Market

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Alliant Energy to Generate Solar, Revenue in Richland Co.

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RICHLAND CO., Wis. (WMTV) – Alliant Energy announced on Monday that a solar site in Richland County is now operational, ahead of an economic boost in the surrounding region.

The 50 megawatt Bear Creek Solar Site is located in the town of Buena Vista. Since construction began in July 2021, the project was completed this month with over 120,000 solar panels installed.

The project is expected to generate enough energy to power around 13,000 homes, according to Alliant Energy.

“It’s what we’ve all been waiting for. We have put a lot of time and effort into this program,” said Erik Jensen, Construction Manager. “It’s a great day.”

Beyond the gates of the 456-acre site, the economic impact is directed to the county and township. They will receive approximately $200,000 in combined Revenue Share payments each year for the next 30 years.

Buena Vista clerk Van Nelson said the city would receive about $80,000 a year.

“That means we’re going to have some really nice roads,” he said. “We only do certain things here. We have elections, we fix roads and we provide fire and emergency services – that’s where the money needs to go.

He says the project has already put people to work.

“They brought a lot of people here and they helped a lot of the area with restaurants, motels,” he said. “It was a good thing.”

Nelson said that, for the most part, the community was receptive to the project. While some residents were concerned about the high visibility of the solar panels, Nelson and Alliant Energy officials confirmed that trees were planted around the property to conceal the panels.

Alliant Energy is working to build 11 more solar power sites in the state.

Inside Baker Hughes’ vision for the energy transition

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Emily Pickrell, UH Energy Fellow



Technology transitions can be very difficult. Consider the small company that made buggy whips for horse-drawn carriages in the late 1800s, just before Henry Ford introduced the assembly line that produced the Model T.

Now let’s move on to the current challenge and strategic decisions faced by the many different players in the energy industry.

Quarterly returns are a way to gauge how players are doing when developing their strategies. But quarterly buggy whip returns in 1900 would not have been particularly instructive about the transformation awaiting the automotive industry.

In a recent Houston Chronicle article on Baker Hughes
BHI
and the oil services industry, energy journalist Kyra Buckley demonstrated a similar lack of foresight. She interpreted a difficult quarter for Baker Hughes as a bad strategy, especially compared to its competitors Halliburton
HAL
and Schlumberger
SLB
.

On paper, the comparison seems overwhelming. Baker Hughes posted a lackluster second-quarter performance of $5 billion in revenue, down 2% from the same period last year.

That’s far less than Halliburton’s stellar season. It reported revenue of $5.07 billion in the last reported quarter, an increase of 36.9% over the same period last year. Schlumberger reported revenue of $6.8 billion, an increase of 20% over the same period last year.

It is certainly fair to point out the impact of the Russian-Ukrainian war and our country’s sanctions on Russia. As a result, Baker Hughes’ non-operating Russian facilities did not help its bottom line last year. (Baker Hughes reported a non-operating loss of $426 million related to its oil services unit in Russia.) Again, this decision is not synonymous with bad strategy, but rather common sense.

Part of the problem, even when drawing comparisons, is to continue to view Baker Hughes as a pure oil services company, when it is so clearly positioning itself to be competitive in the technologies that the energy transition will require.

Right now, Baker Hughes’ bread and butter is oilfield services and equipment, but they understand that the future lies in energy technology, climate change and emissions mitigation – and are taking action. Consequently.

This kind of mischaracterization of Baker Hughes — and other companies taking similar steps — is troubling because it disrupts the metrics by which to measure the progress they are actually making. They have already actively begun to do what will be necessary for others. They are reinventing themselves to meet the energy needs of tomorrow, rather than those of today.

For example, Vikas Mittal raised concerns in Buckley’s article that Baker Hughes bowed to environmental pressure from its investors, rather than focusing on the needs of its oilfield service customers.

“They want to be a tech company, they want to be a digital company, they want to be a socially responsible company, they want to be a net zero company,” Mittal said. “The one thing they don’t want to be is a service company.”

Yet Baker Hughes’ income from its oil services increased by 14% compared to the same period last year. This says a lot about his constant commitment to his clients. You don’t deal with non-performers, especially with Halliburton and Schlumberger waiting in the wings.

Mittal’s interpretation of Baker Hughes’ lower yields – and where to lay the blame – also dramatically downplays the importance of the need for technology and service in the low-carbon energy system of the future.

By the end of the year, the federal government will invest $3.5 billion in the development of direct air capture centers and regulators are busy drafting regulations to cover carbon sequestration at sea , an emerging field of opportunity for companies with skills like Baker’s. Hughes. The government takes limiting carbon emissions seriously, and smart people in the energy industry are actively responding accordingly.

The picture is the same for the future of hydrogen. Again, authorities plan to invest $8 billion in the development of clean hydrogen, an energy source in which Houston and its energy industry are uniquely positioned for leadership.

The metaphorical roads are being set as we speak of a huge leap in technology, and Baker Hughes is positioning herself to be part of it. It recognizes that the same type of geological and geophysical data will be needed to develop these storage sites, for example. His services will be needed – desperately needed in years to come, in a way that greater expertise in oilfield extraction will not.

The idea that Baker Hughes, Schlumberger and Halliburton are playing the same game is misguided. Schlumberger and Halliburton had a great quarter, taking advantage of soaring oil prices – but depending on traditional oil and gas and nibbling on the edges of the energy transition plays a short-term tactical game. They are now maximizing their income potentially at the expense of their future.

Baker Hughes, Buckley rightly notes, is a leader in liquefied natural gas, which is increasingly seen as a way to export low-carbon natural gas. Baker Hughes also has a significant investment in advanced technology that will also position it in the carbon capture, hydrogen and geothermal markets as they develop and grow.

Ultimately, the question for oil services is whether to continue with a short-term tactical approach rather than a longer-term strategic vision.

Baker Hughes is positioning himself for the future and is suffering in the short term. We will see how customers and investors react in the future.

Transitions are tough, but it’s really hard to buy a buggy whip today!


Emily Pickrell is a veteran energy journalist, with over 12 years of experience covering everything from oil fields to industrial water policy to Mexico’s latest climate change laws. Emily has reported on energy issues in the US, Mexico and the UK. Prior to journalism, Emily worked as a policy analyst for the US Government Accountability Office and as an auditor for the international aid organization CAR.

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UH Energy is the University of Houston’s center for energy technology education, research, and incubation, working to shape the energy future and forge new business approaches in the energy sector.

European Robotic Lawn Mower Market To Hit $1.25 Billion By 2027 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Europe Robotic Lawn Mower Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.

The European robotic lawn mower market size reached US$617 million in 2021. Looking forward, the publisher expects the market to reach US$1,256 million by 2027, showing a CAGR of 12.58% in 2021-2027. Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on different end-use sectors. This information is included in the report as a major market contributor.

A robotic lawn mower is an autonomous lawn mower that operates autonomously without any human intervention. Typically, a robotic lawn mower is designed to include a mobile base, docking station, and sensory feedback control system. It uses multiple degrees of coordinated movement using sensors, while having the ability to self-docking.

For this reason, robotic lawn mowers are considered more efficient than conventional lawn mowers. In addition to this, robotic lawn mowers have other advantages such as convenient handling, low maintenance, energy saving, safe operation, high efficiency and optimum results. In Europe, robotic lawnmowers are used for several gardening and lawn care applications, in both residential and commercial sectors.

The growing demand for robotic lawn mowers in Europe can be attributed to the growing adoption of artificial intelligence (AI) technology to perform daily activities with greater efficiency. Furthermore, the growing penetration of smartphones and wireless devices coupled with the rapid development of software applications to control robotic lawn mowers has propelled the market growth in Europe. In addition to this, the rising standard of living supported by the high disposable income levels of European consumers has fueled the use of high-end and advanced household robots for several household tasks.

Moreover, a large portion of the population in Europe owns independent residential spaces which usually include private lawns and gardens, thus boosting the demand for robotic lawn mowers. Apart from this, the increasing demand for automation in the commercial sector, as well as the growing awareness of several advantages of robotic lawn mowers, such as noise-free operations, time management and energy conservation , have further increased the market growth in the region. .

Key Market Segmentation:The publisher provides an analysis of key trends in each sub-segment of the European Robotic Lawn Mower market report, as well as regional and country-level forecasts from 2022 to 2027. Our report has categorized the market based on lawn size, end user, technology and distribution channel.

Breakdown by lawn size:

Breakdown by end user:

  • Residential

  • Commercial

  • Others

Breakdown by technology:

  • Smart robotic mower

  • Simple robotic lawn mower

Breakdown by distribution channel:

  • Specialty stores

  • On line

  • Others

Breakdown by country:

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Others

Main topics covered:

1 Preface

2 Scope and methodology

3 Executive Summary

4 Presentation

5 Europe Lawn Mower Market

6 Market Breakdown by Lawn Size

7 Market Breakdown by End User

8 Market Breakdown by Technology

9 Market Breakdown by Distribution Channel

10 Market Breakdown by Countries

11 SWOT Analysis

12 Value chain analysis

13 Analysis of the five forces of carriers

14 Competitive landscape

Companies cited

  • AL-KO Kober SE

  • Alfred Karcher SE & Co. KG

  • E.ZICOM

  • Honda Power Equipment

  • Husqvarna Group

  • MTD Products Inc.

  • Robert Bosch GmbH

  • STIGA

  • Yamabiko Europe

  • Zucchetti Centro Sistemi

For more information about this report visit https://www.researchandmarkets.com/r/50gkbo

LNG Service Provider Furui Energy to Increase Overseas Market Presence with Launch of Website Redesign

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SHANGHAI, August 22, 2022 /PRNewswire/ — Furui Energy, an industry leader Liquefied Natural Gas (LNG) Plant Projects and Solutions, launches its revamped English site to reach foreign markets with its service offerings. With a proven track record of delivering clean, renewable energy to businesses in Greater China since 2008, the company is now looking to bring its highly coveted services to the international market.

The revamped website can be navigated entirely in English so that multinational companies can gain a clear and accurate understanding of Furui Energy’s products and offerings, which range from natural gas consulting services to engineering, procurement and construction (EPC) and technical support services. The website also gives visitors the opportunity to learn about the benefits of LNG plant projects and green technology improvements through informative articles.


Furui Energy website

The demand for LNG has grown rapidly due to its multitude of environmental benefits. In an LNG plant, natural gas is purified and supercooled in liquid form to be stored and used as fuel. Compared to non-renewable energy sources such as coal and diesel, LNG emits 45-50% less carbon dioxide than coal and 30% less carbon dioxide than fuel oil. As a result, LNG plant projects produce far less pollution than other power plants, making them a smart alternative for power generation globally.

As a one-stop clean energy service provider, Furui Energy has been contributing to reducing greenhouse gas emissions for years with a number of successful projects in China and abroad, including Malaysia, Singapore, Iraq, Uzbekistanand Mexico. The company strives to continue doing its part for the environment by providing services beyond the mainland China market, making clean energy more accessible and digestible for industrial companies globally. The redesigned website ensures a user-friendly experience for all visitors, where they can find detailed information about Furui Energy’s products and services, as well as an overview of the company’s successful LNG plants and projects.

SEC GAS Project
SEC GAS project

Li Huaibing, general manager of Furui Energysaid, “Furui Energy is proud to launch our revamped website, making its presence known in the international LNG landscape. Delivering clean energy for a better future remains our highest priority, and we want to expand these capabilities to ensure a better future everywhere.

The president of Furui Special Equipment, Huang Fengalso shared his optimism about Furui Energy’s future as a leading LNG supplier, saying, “During a recent visit to the Heshen 6 Well LNG project site in Hechuan District, Chongqing, my team inspected the construction site and the operating plant, as well as the Tongshen 3 Well Phase II LNG project, stressing the importance of on-site safety and careful maintenance of all our operating plants. It is a pleasure to see how Furui Energy has grown into a compassionate and talented team that has accomplished so much for the environment and our employees over the past 15 years. Our group’s commitment to green ecology and improving the livelihoods of others only grows stronger as we reveal our potential to the rest of the world.”

Heshen 6-Well LNG Project
Heshen 6-Well LNG Project

Furui Energy’s revamped English website provides a comprehensive overview of the products and services available, with supporting case studies. Website visitors can also read thought-provoking thoughtful articles focused on LNG and clean energy, and browse career opportunities.

Learn more about Furui Energy’s products and services by visiting http://www.furuilng.com/.

About Furui Energy
Jiangsu Furui Energy Services Co., LTD (Furui Energy) is an independent subsidiary of Furuise specializing in LNG plant projects, including project pre-research such as feasibility and FEED studies; EPC works and technical services, including start-up and commissioning, fault diagnosis and remote assistance, daily maintenance and operation of installations; R&D, rental and sale of LNG equipment; Sales of LNG and other chemicals.

CONTACT:
Furui Energy
[email protected]
Mia Wang | [email protected]

Sinclair
[email protected]

3 High Yielding Energy Stocks to Earn Passive Income for Years

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The energy industry is a great place to collect passive income. The sector currently offers the highest dividend yield in the S&P500 close to 4%, well above the index average of around 1.5%. For this reason, income-oriented investors have many options.

Three energy stocks that stand out for their ability to generate sustainable passive income are Brookfield Infrastructure (BIPC -0.98%) (BEEP 1.36%), Clearway Energy (CWEN -4.66%) (CWEN.A)and Williams Enterprises (WMB -0.88%). Here’s a closer look at why income-focused investors should consider this trio.

1. Sustained growth should continue

Brookfield Infrastructure has been an exceptional passive income generator over the years. The global infrastructure operator declared its 13th consecutive year of increasing its payment in 2022, growing it at a compound annual rate of 10% during this period. It currently offers a dividend yield of 2.9%, nearly double that of an S&P 500 index fund.

Brookfield should be able to continue to grow its lucrative revenue stream in the future. The company operates a diversified portfolio of infrastructure businesses in the utilities, midstream energy, transportation and data sectors. They generate recurring cash flows supported by long-term contracts and government-regulated fee structures. Meanwhile, Brookfield pays around 60% to 70% of that income to shareholders through its high-yield dividend. This gives it some cushion while allowing it to keep some of the profits to fund its continued expansion.

Brookfield estimates that it can organically increase its cash flow per share by 6% to 9% per year through inflationary price increases, increased volumes as the economy grows and expansion projects . Additionally, it sees its capital recycling program – selling mature assets to invest in higher yielding opportunities – adding to its bottom line. This should support the company’s plan to increase its dividend by 5-9% per year.

2. Future high-end growth

Clearway Energy is currently offering a 3.5% dividend. The company has steadily increased this payment in recent years. It plans to increase it towards the upper end of its annual target range of 5% to 8% through 2026.

The main factor behind this high-end growth is the recent sale of the company’s thermal assets. It received $1.46 billion in net proceeds, which it plans to allocate to clean, cash-generating power assets in future years. The company has agreements to put more than half of these profits to work. For example, it recently agreed to invest $100 million to $130 million to acquire a portfolio of wind assets from a third-party seller. Combined with other recent deals, it aims to increase its cash available for distribution from $365 million this year to $400 million when those deals close.

During this time, the company strives to invest the remaining proceeds at attractive returns. Its success in doing so could boost its cash flow to over $440 million in the future.

This should not be a problem to continue to find attractive opportunities, given the amount of investment needed to transition the economy to renewable energy. It also has strategic relationships with a renewable energy project developer, a global infrastructure investor and a major energy company, each of which can provide it with investment opportunities.

3. Lots of fuel to keep growing

Williams Companies has been paying dividends to its shareholders since 1974. It has steadily increased its payout since resetting in 2016 to conserve more cash to expand operations and strengthen its balance sheet. natural gas pipeline the giant’s payout currently yields 4.8%.

The company currently generates enough cash to cover that payment more than twice, giving it a significant cushion. This allows it to fully fund its expansion program and pay off its debt, putting its payment on an even more sustainable footing.

Williams Companies has several growth engines that should provide it with more cash flow to increase its dividend going forward. Its natural gas transmission business alone is growing by leaps and bounds, driven by growing demand for cleaner fuels. Williams is investing $1.5 billion in five projects and has another 30 projects worth up to $7 billion in future development investment potential. This pipeline could drive growth over the next decade. Additionally, it is expanding its gas gathering business and position in the Gulf of Mexico and shifting to low-carbon energy. With multiple growth drivers and an improved financial position, Williams’ dividend looks more sustainable than ever.

Sustainable revenue streams

Brookfield Infrastructure, Clearway Energy and Williams Companies deliver high-yield payouts built on enduring foundations. All three energy companies produce recurring cash flow and have strong financial profiles, giving them the flexibility to continue to grow their businesses. This growing cash flow should allow them to continue to increase their dividends, making them excellent passive income stocks to hold for the long term.

Matthew DiLallo holds positions at Brookfield Infrastructure Corporation, Brookfield Infrastructure Partners and Clearway Energy, Inc. The Motley Fool recommends Brookfield Infra Partners LP Units, Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy.

Electric Bike Company Unveils Model F 25mph Folding Electric Bike

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Electric Bike Company, based in Newport Beach, California, has just launched its long-awaited folding electric bike model, known as the Model F. The backrest embodies much of the same cruiser vibes and design philosophy of the most the company’s big e-bikes, but a smaller, more portable package.

And just like the rest of the company’s e-bikes, it’s built there in Southern California before being shipped fully assembled to customers.

The F model features a low frame and 24-inch wheels, which are a compromise between the large 26-inch cruiser wheels and the smaller 20-inch wheels often seen on most e-bikes folding.

The 3″ wide tires are also a middle ground between softer fat tires and narrower street tires, falling more into the balloon tire category than true fat tires.

The smaller diameter tires make the bike a bit more compact when folded, but are still large enough to give a more typical cruiser-like ride.

The F-Model’s hydroformed aluminum frame features a front suspension fork and uses an integrated battery that’s secured in the downtube.

The battery can be locked in place and charged on the bike or unlocked to be removed for charging separately. The company claims a maximum range of 80km from the battery when using the pedal assist.

Riders who instead rely on the throttle to reach higher speeds without pedaling won’t achieve the same 50-mile range, but should still likely reap at least half that figure.

With a 750W motor and a top speed of 40kph (25mph), riders who press hard on the throttle will have good power and speed at their fingertips.

Also within easy reach are a pair of comfortable brake levers linked to hydraulic disc brakes for powerful braking performance. To pick up speed, the single-speed pedal transmission uses a massive 58-tooth chainring, ensuring pedaling ability even at top speed.

Just like Electric Bike Company’s other models, the new backrest comes with vegan leather grips, a wide, comfortable saddle that embodies the vibes of the company’s cruiser bike, a color LCD display, LED lighting on the front and rear of the bike, corrosion resistant hardware throughout the bike and an adjustable handlebar stem.

The bike is priced at $1,799 and currently comes in three colors of white, red, and black. But Electric Bike Company is famous for its nearly limitless paint color options thanks to the operation of its own paint plant in Southern California, so we wouldn’t be surprised to see more colors offered soon.

I visited the company over the winter and got to see the paint shop first hand, trying to paint my own Tweety yellow bike frame.

There I also got to tour the company’s multiple factories in Newport Beach, meet the team that actually builds the bikes, and get a better idea of ​​what goes into building these quality electric cruiser bikes.

The icing on the trip cake was testing a few different models, including the more economical Model E and the easily accessible Model Y.

You can check out my tour of the company’s e-bike factory in my video below to see how these awesome e-bikes are getting the local treatment.

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The plan for the battery energy storage system is presented to the Planning Board, a decision lambasted by Aguiar and Blass

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The Virginia company proposing to build a 100 megawatt battery energy storage facility on Mill Road presented its proposal to the Riverhead Planning Board on Thursday – a presentation described by the city’s chief planner as merely intended to educate the council and the public on battery energy storage in general rather than a typical discussion of a site plan application before the board for consideration.

Battery energy storage is currently not a permitted use under the city’s zoning code. In fact, the company’s site plan application for the 3.6-acre residential site on Mill Road has already been denied by Building and Planning Administrator Jefferson Murphree for this reason.

However, the plaintiff, Riverhead Energy, a subsidiary of Hexagon Energy of Charlottesville, Virginia, also filed an application with the Riverhead Zoning Appeal Board seeking a special exception to permit the energy storage facility by battery on site. The special exception request asks the ZBA to substitute one non-conforming use with another non-conforming use, described as “less intense,” according to documents filed with the planning department last month.

On July 22, the day Murphree wrote the site plan application denial letter, planner Matt Charters wrote a notice of incomplete application letter to the applicant detailing the items they must submit to the planning department before its site plan application can be considered complete.

Lawyer Chris Kent, foreground, with Hexagon Energy’s Adam Staneck, representatives of VHB Engineering and Riverhead Planner Matt Charters, third from left, at Thursday’s Planning Board meeting. Photo: Alex Lewis

On Thursday, Hexagon’s senior director of development, Adam Stanek, told members of the Planning Board that battery energy storage facilities buy energy during off-peak hours to store it for later resale to the company. utilities at peak times at a higher price than they paid. . The systems enable a constant supply from renewable energy sources and overall lower costs for customers, reduce stress on the grid and reduce the need for large fossil fuel generators called “peaking power plants” which provide electricity during peak hours.

Stanek was joined in Thursday’s planning committee meeting with local Hexagon attorney Chris Kent of Farrell Fritz, as well as engineers and planning consultants from VHB Engineering. Farrell Fritz and VHB prepared Hexagon/Riverhead’s site plan application, complete environmental assessment form and technical site plan drawings, which were filed with the planning department on July 14, as well as a check for $5,000 for site plan application fees.

Riverhead Supervisor Yvette Aguiar said she was ‘appalled’ that the application was presented to the planning board on Thursday, despite the use not being permitted by the town’s zoning code to be located anywhere in the town of Riverhead – and even if the city council is working to pass legislation to regulate the location and operation of battery energy storage facilities in the town. The city council held a public hearing on a first draft code on Tuesday evening.

An angry city supervisor said today that watching a video of Thursday’s planning board meeting ‘it became very clear what was being delivered to council and residents was a pre-planning request for the submission, with numerous documents, studies, certified documents” in the presence of the plaintiff’s lawyer, engineers and architect.

Aguiar called Thursday’s presentation a “serious distortion of public trust.”

Jamesport resident Barbara Blass, a former city council member, longtime member of the planning board and its former president, is often at odds with Aguiar when she takes to the podium at City Hall to comment on demands and pending actions. This is not the case on this question. Blass also expressed outrage at the process followed. His comments after Hexagon’s presentation at Thursday’s Planning Board meeting were in line with Aguiar’s assessment.

Noting that the applicant had had a pre-bid conference with planning department staff in October, Blass questioned why the education effort of the Planning Board and the public – which, according to the building administrator and planning, Jefferson Murphree, was the focus of Thursday’s presentation – has been postponed until mid-August.

“Why wait for this applicant to go through the still ongoing application process, but still provide site plan drawings fully designed by VHB engineering company, pay the application fee, complete the lengthy environmental assessment form and anything that goes with the app sitemap, including notarized signatures, and suggesting that it was on your agenda to educate the board and the public about the technology?” Blass asked.

“We saw a draft code proposed by staff in April, why not enlighten the council then?” she asked.

“And who would consider a public information forum at 3 p.m. on a Thursday afternoon, when the public can’t even participate in the discussion?” Blas continued. “I’m sorry, but the word dishonest comes to mind.”

Rather than wait for the City Council’s code amendment to proceed to its conclusion and final adoption, Hexagon/Riverhead, with the apparent consent of the Building and Planning Administrator, is requesting a special exception to the Use of the Zoning Appeal Board. If the special exception use is granted by the ZBA, the applicant could obtain site plan approval and proceed with construction without the special permit from the city council required by the pending code amendment, even if the property is not located in one of the zoning districts where it would be permitted if the proposed code were adopted.

Under the draft code on which the city council held a first public hearing on Tuesday, installations of battery energy storage systems would be permitted by special permit from the city council only in Industrial A, Industrial C , planned industrial park, agricultural protection and zoning A-80 residence use neighborhoods.

But the proposed site on Mill Road is zoned Residence B-40, so the proposed BESS facility could not be located there if the code is passed in its current form.

“How and why would a candidate continue to invest in the development of a non-compliant application unless they were aware that at some point there was a light at the end of the tunnel for them? Blass asked during Thursday’s planning board meeting.

“Instead of solid planning principles at play here, we seem to have a well-orchestrated strategy that runs counter to responsible, trustworthy and professional behavior.”

New York State is promoting battery energy storage systems to meet renewable energy goals by improving the efficiency of commercial solar power generation facilities, which generate most of their power in the middle of the day, an off-peak hour for residential energy use, Hexagon representatives said. says the council.

The installation would help maximize the benefits of the solar farms located in Calverton, Stanek said. Although the proposed site is zoned residential, the proposed battery energy storage system “suits the local aesthetic, in that the land is currently used for industrial purposes”.

Proposed site on Mill Road for installation of 100 megawatt battery energy storage system. Photo: Denise Civiletti

The Mill Road location is adjacent to the rail line to the south and a large self-storage facility to the north, and is near a LIPA substation located south of Main Street. Hexagon Energy’s Stanek said redevelopment of the site will result in additional tax revenue for the city.

The proposed location on Mill Road is also adjacent to Glenwood Village, a high density prefabricated housing community.

The property is currently being upgraded with warehouse-type buildings that would be demolished to make way for the energy facility, according to documents filed by the plaintiff.

The proposed facility would be the largest of its kind to date on Long Island. A small facility is located in the town of East Hampton and a large scale facility is proposed closer to New York City. Hexagon is not involved in any of these facilities, Stanek told the Planning Board.

Blass also challenged the notion that the battery energy storage facility is a “non-conforming use” that can be substituted for another non-conforming use by special exception from the ZBA.

The ZBA has the power to grant a special exception to replace one nonconforming use with another, Blass said, but “but the use has to be legally authorized somewhere in the city or it’s not a nonconforming use.” compliant, it’s non-existent use,” Blass said.

Murphree, the city’s chief planner and zoning officer, disagrees.

In response to questions from RiverheadLOCAL on Tuesday, Murphree said in an email that “any use not explicitly listed or construed as authorized by the city’s zoning official [Murphree] is considered a derogatory use. It does not have to be allowed “elsewhere” in the zoning code to be considered non-compliant. »

The applicant intends to apply for the special exception from the ZBA, Murphree wrote, and the planning department put the application on the agenda of the Planning Board on Thursday for discussion only to “inform the nature board [of the] the application in question and its proposed use, as well as [to] describe the process for reviewing the application in the future.

The application remains incomplete pending receipt of additional information outlined in Charters’ July 22 letter, Murphree wrote in the email.

Murphree continued, “Again, we’re just trying to be proactive and educate the Council and the public on a new use.”

Alek Lewis contributed reporting.

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Europe tries to solve its energy crisis with fossil fuel projects in Africa

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Food and fuel prices are skyrocketing globally, and Russian oil and gas supplies have been reduced since the invasion of Ukraine. In response, European governments are paving the way for massive investments in fossil fuels from non-Russian sources that jeopardize efforts to combat climate change.

Policies are designed to suit fossil fuel companies, which see Russia’s war in Ukraine as an opportunity to expand production elsewhere. Governments are missing opportunities to reduce oil and gas consumption by managing demand – insulating homes and abandoning car-based urban transport systems, for example – and accelerating the shift to electricity generation from solar and wind energy.

Government failures to address the climate crisis, exemplified by scorching summer temperatures and drought, go hand in hand with inadequate responses to economic crises. Inflation and recession combine to threaten the livelihoods of hundreds of millions of people. Resistance to these attacks is growing. Here in the UK, a wave of strikes looks likely to become the biggest in decades.

Activists seek to unite these protests over living standards with actions to reduce the use of fossil fuels and limit global warming. Uniting the fight for social justice and climate justice is needed, and possible, like never before.

Responses to high fuel prices

The Russian invasion of Ukraine in February accelerated already runaway increases in fuel prices. Since the start of 2021, gas prices in Europe have increased more than eightfold. Oil rose from around $50/barrel to $120/barrel in March; it has remained above $90/barrel ever since.

European governments’ “emergency” response measures, aimed at sourcing from non-Russian sources, included approving fossil fuel generation projects that will not come on stream for years.

The British government paved the way in April, with its Energy security strategywhich undertakes to authorize new gas projects — live opposition calls from the International Energy Agency (IEA) and the United Nations Environment Program to immediately cease all new exploration and extraction of oil and gas. The strategy included next to nothing to improve the insulation of British homes, which energy researchers say is the most effective way to reduce gas consumption.

Instead, money was pledged for beloved tech solutions from fossil fuel companies, including hydrogen and carbon capture.

The RePowerEU package set up by the European Commission, the executive arm of the European Union, has committed resources to reducing the use of fossil fuels by renovating homes, reforming urban transport and accelerating the development of renewable energy. But not enough.

He has also approved billions of dollars in new gas infrastructure – “a slower, more expensive and more environmentally damaging answer to the bloc’s energy security needs” than renewables and modernization, according to a Global Energy Monitor. report show.

Brussels is also supporting a program to import “green” hydrogen, produced from renewable energies, from North Africa and, in the future, from Ukraine. opponents say it is “neocolonial greenwashing”, and that the new renewable energy capacity should rather be adapted to the energy needs of these countries.

Most dangerous of all, however, are plans backed by European governments to boost gas production in Africa, with exports to Europe displacing Russian gas supplies.

In May, German Chancellor Olaf Scholz sign an agreement with Senegalese President Macky Sall to seek gas which would be liquefied and sent by ship to Europe. In June, African Union leaders discussed launch a joint call at the COP27 international climate talks in Egypt in November, for the expansion of oil and gas production across the continent.

A corporatist offensive rubs shoulders with a political offensive. Oil and gas producers are considering new projects worth more than $100 billion in Africa, research by Reuters shows.

Since the Russian invasion of Ukraine, the Italian energy group Eni has sign new agreements with Algeria, Egypt and the Republic of Congo, aimed at exporting more gas to Europe; TotalEnergies of France is considering reviving a $20 billion liquefied natural gas (LNG) project in Mozambique; and Equinor of Norway joined Shell to sign an agreement with Tanzania to build a liquefied natural gas (LNG) export terminal there.

Civil society resists

African civil society reacted angrily to oil and gas investment plans. A plan presented to African Union leaders failed to explain “why current energy systems, largely centralized, largely dependent on fossil fuels and largely export-oriented, have failed to provide access to electricity. energy to hundreds of millions of ordinary Africans,” according to an NGO note. declared. The focus for each region should be on using each continent’s “massive renewable energy potential” to end energy poverty at the national level, they demanded.

Mohamed Adow, director of Power Shift Africa, said that locking Africa into “a future based on fossil fuels” would be “a shameful betrayal”. Lorraine Chiponda of Africa Coal Network said oil and gas investment plans “are not driven by Africa’s needs, but by the energy crisis in Europe”. The proposals were also rejected by climate diplomats, including those representing the Egyptian Presidency of COP27.

The focus on gas export can only increase the burden borne by Africa’s poorest people, who have little or no access to electricity or other modern forms of energy. energy. In sub-Saharan Africa, the number of people without access to electricity increased by around 4% between 2019 and 2021, to 590 million (43% of the population), mainly due to the coronavirus pandemic, lockdowns and energy prices, reversing the gains made in 2014-18. The number of Africans without access to clean cooking fuels has also increased, to more than 970 million, nearly three-quarters of the continent’s population. For cooking, most of them depend on collected firewood and agricultural and animal waste.

Russian aggression in Ukraine has aggravated the situation. Soaring food and fuel prices have pushed an additional 71 million people in developing countries into poverty since March, according to the United Nations Development Program reported in July.

Energy experts argue that developing Africa’s huge solar and wind potential is the way to fight energy poverty. Resources dumped at LNG export terminals undermine this potential.

The shadow over COP27

The approach of Europe’s biggest governments – limited action on energy conservation and renewables, plus billions for new gas, hydrogen and carbon capture projects – is comparable to that of China and of the United States, respectively the biggest and the second biggest emitters of greenhouse gases.

China, while investing heavily in renewable energy, continues to increase coal production and consumption. Its emissions trajectory is consistent with 3 degrees Celsius (3°C) of global warming, as opposed to the scientific goal of 1.5°C, Climate action tracking to research shows.

In the United States, Democratic politicians this month hailed passing the Cut Inflation Act, which included $369 billion for climate measures such as support for electric vehicle purchases, carbon capture and renewable energy – but, as activists warnedno restrictions on the development of fossil fuels.

Package could lift US emissions to 60% of 2005 level, analysts say valued – 10-12% above the target set by President Joe Biden last year. Climate Action Tracker considers this objective itself “insufficient” and compatible with a warming of 2.4°C. Moreover, the United States and other rich countries have still failed to unlock the $100 billion in climate finance promised to vulnerable countries by 2020.

All of this adds up to the prospect of COP27, like other COPs before it, of hampering and undermining efforts to tackle the climate crisis. Society as a whole should to find solutions outside the talks and the greenwash that surrounds them.

Social justice and climate justice

In Europe as in North America, rising fuel prices threaten millions of families with disaster: they will not be able to pay for heating and electricity this winter. In the UK, decades of neoliberal market reforms have removed all constraints from energy companies, which place the entire burden of rising wholesale prices on households. The market is organized in such a way that even electricity produced from low-cost renewable energies is sold at gas prices.

By January 2023, the increase in energy bills is expected tripling to over £5,000 a year for average households and pushing two-thirds of UK families into fuel poverty. In response, more than 100,000 people signed a pledge, launched by the don’t pay campaign, to refuse to pay their energy bills.

The challenge before us is to unite this wave of anger against energy companies profiting from the fight to prevent dangerous global warming.

In 2018, during France’s yellow vest movement, sparked by fuel taxes that the government called ‘green’, the phrase ‘the elites talk about the end of the world, but we worry about the end of the months” was invented.

Less known was the slogan that responded to it: “end of the world, end of the month, same fight!” – which sought to unite social protest with action against climate change. This year, requests such as “isolate Brittany– to modernize homes, reduce both energy consumption and bills – have achieved such unity. We need to do more.

The same corporations and governments that seek to increase fossil fuel production in a climate emergency are also seeking the neocolonial subjugation of Africa and assaulting household living standards in both the North and the South.

Struggles for social justice and climate justice must be united to transform society and end their domination.

Energy Adviser: Adding insulation to older homes can pay off

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Owning an old house is a bit like owning an old vehicle. Although it doesn’t have the features or comforts of its modern counterparts, the right upgrades can make it perform better than it did the day it was built.

Additionally, Clark Public Utilities can help make the investment more affordable.

Older homes are not as energy efficient as those built after 1990. Stricter building codes, along with changes in building science and materials technology mean that newer homes stay at the desired temperature longer while consuming less energy than older homes.

The difference is mainly in the insulation.

Newer homes are framed with two-by-six studs spaced 16 inches on center, while most pre-1990 homes were built with two-by-four studs 12 inches on center. Thicker walls mean more room for insulation. Fewer poles means less thermal bridging for heat to get where it’s not supposed to be.

Not only were homes built with less room for insulation, but builders often didn’t prioritize its installation. As any professional renovator can probably tell you, old attics, floors and walls can all be insulated, but to different degrees from house to house.

Homes built before the 70s may have little or no insulation in the walls or floor, but a decent layer in the attic.

Fortunately, inadequate insulation is fairly easy to fix and offers one of the best investments for return value of any home improvement project.

With a little hard work and a few simple tools, a DIY homeowner can insulate the attic or floor in an afternoon or two. Although the do-it-yourselfer can save money on installation, it’s often worth considering at least the services of a professional. Contractors often have better insulation solutions than a do-it-yourselfer can achieve, handle all safety aspects of the project, and can provide crucial air sealing services as part of their offerings.

“Air leaks are constantly working against the heating or cooling system, and older homes are full of them,” said DuWayne Dunham, energy services supervisor. “Many contractors offer both air sealing and insulation, together they will really improve the energy performance of a home.”

Even if they are well insulated, older houses tend to heat up quickly in the summer, often because the attic is poorly ventilated. A good insulation contractor will consider ventilation and modern standards as part of a job.

“People often say the heat rises, when in reality it’s warm air rising, the heat expands and moves in any direction to heat cooler spaces,” Dunham said. . “So on a hot summer day, when an attic can easily reach over 160 degrees, that heat is going to sink into the cooler living spaces – unless it is properly vented to the outside.”

Wall insulation is generally too technical for most do-it-yourselfers. But, for an insulation contractor, it’s just another day of work. They reinforce a wall’s insulation by removing a bit of the exterior sheathing, cutting or drilling a small hole in the wall, and then blowing in the insulation until the wall is well compacted. Other companies use specially formulated spray foam insulation, which is more effective but also more expensive.

Older homes also run the risk of having asbestos in the insulation. Although not threatening if left alone, asbestos can be very harmful to human health if disturbed. Its removal should only be carried out by a professional.

After meeting certain conditions, Clark Public Utilities customers who own an electrically heated home can receive a rebate of $0.40, $0.50 and $1.20 per square foot on the attic, floor and wall insulation, respectively. It’s between 10% and 20% off a job.

Contact us at 360-992-3355 [email protected] to discuss insulation projects and to learn more about discounts.


Energy Adviser is written by Clark Public Utilities. Send your questions to [email protected] or to Energy Adviser, c/o Clark Public Utilities, PO Box 8900, Vancouver, WA 98668.

SET sentiment supported by record earnings

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RECAP: The SET index jumped mid-week after listed companies reported record second-quarter profits of 350 billion baht, rekindling investor confidence, before cutting profit taking yesterday. US stocks were range-bound, reflecting mixed views on economic data and uncertainty about the scale of the Fed’s next interest rate hike.

The SET index traded in a range of 1,617.00 and 1,642.17 points this week before closing yesterday at 1,625.92, down 0.62% from the previous week, with a reading of ‘average daily business of 74.32 billion baht. On Thursday, foreign investors were net buyers of 22.6 billion baht and institutional investors bought 2.5 billion. Brokerage firms were net sellers of $3.1 billion and retail investors sold 21.9 billion baht worth of shares.

NEW : Thai and foreign companies filed 784 investment promotion applications in the first six months of 2022, up 4% from a year ago, but the combined value of investments fell 42% to 219, 7 billion baht, according to the Board of Investment. The automotive and digital sectors have seen the strongest growth.

True Corporation said revenue edged up 0.8% year-on-year to 34 billion baht in the second quarter, but fell 3.1% on a quarterly basis, amid high inflation that dragged down undermined purchasing power. The company’s consolidated net loss widened to 761 million baht from 299 million in the second quarter of last year. TrueMove H’s mobile service revenue fell 1.2% year-on-year to 19.9 billion baht.

US Federal Reserve officials remain committed to raising interest rates as high as necessary until inflation slows to a manageable level, as the United States now faces a recession. Chairman Jerome Powell said the Fed may take a break after its September meeting to assess the impact of rate hikes. The Fed Watch Tool now suggests a 65% chance of a 50bp hike in September, and only 35% for a 75bp hike.

Many key indicators in the United States show that inflation has probably peaked. The consumer price index (CPI) in July fell to 8.5% year-on-year from 9.1% in June, while producer prices and housing data also fell.

The central bank of the Philippines raised its benchmark rate an additional 50 basis points to 3.75% on Thursday and signaled that it had room to raise borrowing costs further to combat inflationary pressures.

Fund flows are expected to continue in Thailand’s stock market as the economy recovers, unlike many developed markets, analysts said. Second quarter earnings were much stronger than expected, so the forecast could be revised upwards. Foreigners have been net buyers of 35 billion baht so far this month, and 152 billion for the year to date.

Thailand’s second-quarter GDP grew 2.5% yoy and 0.7% quarter-on-quarter, with a robust rebound expected in the second half thanks to a wider reopening, the easing of Covid measures and economic stimulus measures such as Kon La Krueng phase 5. GDP is expected to grow by more than 3% year-on-year in the third and fourth quarters, compared to less than 3% in the first and second quarters.

Banpu Plc plans capital expenditures worth US$3 billion to US$4 billion over the next five years as ASEAN’s largest coal producer expands its clean energy and energy technology businesses. The company is also diversifying into the health sector.

Central Pattana Plc has announced plans to develop a mixed-use project on a 48 rai plot of land on Phahon Yothin Road in a 50/50 joint venture with its subsidiary Grand Canal Land Plc.

Ratch Group Plc, the country’s largest private power producer by capacity, acquired two energy companies for US$605 million to secure long-term revenues. The purchase covers four new energy assets: a renewable power plant in Thailand, a gas turbine plant in Australia, a combined cycle plant in Vietnam and a battery energy storage system in the Philippines.

The cabinet approved a draft decree authorizing the Ministry of Finance to guarantee repayment of loans and borrowings of up to 150 billion baht by the Petroleum Fund Office. The cash-strapped fund has racked up debts of more than 100 billion baht by subsidizing fuel prices.

Central Pattana Plc has partnered with PTT Plc and Evolt Technology Co, an electric vehicle (EV) charging company, to install charging stations at all Central business complexes by the end of the year. CPN and its partners will spend 200 million baht to install 350 on-ion stations in 37 central shopping malls in 18 provinces.

Energy Absolute Plc, a developer and operator of renewable energy and electric vehicles, is testing a battery-powered locomotive with the aim of expanding into rail transport, through a partnership with Asia Engineering and Services (Thailand) .

Tipco Asphalt Plc, the country’s largest asphalt producer, expects sales in 2022 to exceed the 1.2 million tonnes achieved last year amid growing demand from government construction and landscaping projects. road repair.

The Industrial Estate Authority of Thailand (IEAT) plans to develop a dry port in Udon Thani to make the northeastern province a regional land transport hub linked to the Sino-Lao high-speed rail system.

The government is committed to moving forward with its five-year investment plan for the Eastern Economic Corridor (EEC), aimed at boosting economic growth by 5% per year between 2023 and 2027 and attracting a combined investment of 2 .2 trillion baht.

Supalai Plc expects year-end pre-sales to exceed its 28 billion baht target after hitting 18.2 billion in the first half as several negative factors are expected to ease in the second half. Chief executive Tritecha Tangmatitham predicted that interest rate hikes would be modest and shouldn’t affect homebuyers much.

Mitsubishi UFJ Financial Group, the Japanese parent of Bank of Ayudhya, is in talks to acquire consumer lender Home Credit’s assets in Indonesia and the Philippines, worth an estimated $500 million, Bloomberg reported Thursday.

COMING : China will update its one- and five-year policy rates on Monday. The eurozone will release July’s preliminary manufacturing and non-manufacturing PMIs and the US will release July new home sales on Wednesday. On Thursday, the United States will announce July’s durable goods orders and the Fed will open its annual Jackson Hole meeting, drawing economists and central bankers from around the world.

Domestically, the focus is on politics, as the Constitutional Court will be asked to determine whether Prime Minister Prayut Chan-o-cha’s eight-year term expires this week, or in 2025 or 2027. The Commerce Ministry will release July trade figures on Tuesday, and the SET will hold its annual Thailand investment forum from August 24-26.

Actions to watch: Capital Nomura Securities recommends stocks that will benefit from the recovery in tourism, especially hotel companies. Its investment theme for next week includes four groups: defensive stocks with growth potential such as BDMS, BCH and CHG; high growth and technology companies that depend on domestic demand such as JMT, SINGER, CHAYO, BE8, BBIK and IIG; consumer stocks that are likely to gain as inflation declines, such as ADVANC, TIDLOR, INTUCH, DTAC, CPALL, MAKRO, CRC, HMPRO, ILM, KTC and SNNP; and anti-commodity stocks that benefit from lower oil prices, such as SCGP, GPSC, BGRIM, BCPG, CBG, SCC, TOA, EPG, GULF and SAPPE.

Phillip Securities recommends three themes: stocks that benefit from BoI incentives such as WHA AMATA, AH, SAT, STANLY, GPSC, EA and BPP; BJC and MAKRO retail outlets; and short-term energy values: PTTEP, SPRC and TOP.

Technical view: Capital Nomura sees support at 1614 and resistance at 1650. SCB Securities sees support at 1618 and resistance at 1650.

CRESCENT ENERGY CO: Results of Operations and Financial Condition, FD Settlement Disclosure, Other Events, Financial Statements and Exhibits (Form 8-K)

0

Section 2.02. Results of Operations and Financial Condition.


As reported in a Current Report on Form 8-K filed with the U.S. Securities and
Exchange Commission ("SEC") by Crescent Energy Company (the "Company") on
April 5, 2022, as amended on a Form 8-K/A filed with the SEC on May 19, 2022, on
March 30, 2022, the Company consummated the transactions contemplated by the
Membership Interest Purchase Agreement (the "Purchase Agreement") dated
February 15, 2022, by and among Javelin VentureCo, LLC (the "Purchaser"), a
subsidiary of the Company, Crescent Energy OpCo LLC, a Delaware limited
liability company, and Verdun Oil Company II LLC, a Delaware limited liability
company (the "Seller"), pursuant to which the Purchaser agreed to purchase from
Seller all of the issued and outstanding membership interests of Javelin Uinta,
LLC, a Texas limited liability company and wholly-owned subsidiary of the Seller
that holds certain exploration and production assets located in the State of
Utah (such transactions contemplated by the Purchase Agreement, collectively,
the "Uinta Acquisition").

This Current Report on Form 8-K provides a pro forma statement of operations of
the Company, as described in Item 9.01 below and which is incorporated into this
Item 2.02 by reference, giving effect to the Uinta Acquisition as if it has been
consummated on January 1, 2021. This Current Report on Form 8-K should be read
in connection with the Company's April 5 and May 19 filings referenced above,
which together provide a more complete description of the Uinta Acquisition.

In addition, to the extent required, the information contained in Section 8.01 of this Current Report on Form 8-K is incorporated into this Section 2.02 by reference.

The information contained in this Item 2.02 shall not be deemed to be "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liabilities of that section,
and is not incorporated by reference into any filing under the Securities Act of
1933, as amended (the "Securities Act"), or the Exchange Act.


Item 7.01. FD Regulation Disclosure.

The information contained in Section 8.01 of this Current Report on Form 8-K is incorporated into this Section 7.01 by reference.

Information contained in this Section 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the responsibilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act or the Exchange Act.

Section 8.01 Other Events.

Pro forma financial statements

This current report on Form 8-K provides a pro forma statement of operations, as described in Section 9.01 below, which is incorporated into this Section 8.01 by reference.

                                     ******

Disclosure of Registration Statements

On or about the date of this Current Report on Form 8-K, the Company intends to
file Amendment No. 4 to its Registration Statement on Form S-1 ("Amendment
No. 4") relating to the proposed offering by the Company and a selling
stockholder of shares of Class A common stock, par value $0.0001 per share. In
connection with the filing of Amendment No. 4, the Company is providing certain
additional disclosures to potential investors, the relevant excerpts of which
are set forth below. Capitalized terms used but not defined herein shall have
the meaning assigned thereto in Amendment No. 4.

                                     ******

                                       2

————————————————– ——————————

The Cut Inflation Act of 2022 could accelerate the transition to a low-carbon economy and will impose new costs on our operations.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022
("IRA 2022") into law pursuant to the budget reconciliation process. The IRA
2022 contains hundreds of billions of dollars in incentives for the development
of renewable energy, clean hydrogen, clean fuels, electric vehicles and
supporting infrastructure and carbon capture and sequestration, amongst other
provisions. These incentives could further accelerate the transition of the U.S.
economy away from the use of fossil fuels towards lower- or zero-carbon
emissions alternatives, which could decrease demand for the oil and gas we
produce and consequently materially and adversely affect our business and
results of operations. In addition, the IRA 2022 imposes the first ever federal
fee on the emission of greenhouse gases ("GHGs") through a methane emissions
charge. The IRA 2022 amends the federal Clean Air Act to impose a fee on the
emission of methane from sources required to report their GHG emissions to the
U.S. Environmental Protection Agency ("EPA"), including those sources in the
onshore petroleum and natural gas production and gathering and boosting source
categories. The methane emissions charge will start in calendar year 2024 at
$900 per ton of methane, increase to $1,200 in 2025, and be set at $1,500 for
2026 and each year thereafter. Calculation of the fee is based on certain
thresholds established in the IRA 2022. The methane emissions charge could
increase our operating costs and adversely affect our business and results of
operations.

                                     ******

Summary reserve data based on NYMEX prices

The following table provides historical reserves, PV-0 and PV-10 as of
December 31, 2021 for Crescent Energy Company and the reserves acquired in the
Uinta Acquisition using average annual NYMEX forward-month contract pricing in
effect as of June 30, 2022 ("NYMEX Pricing"). We have included this reserve
sensitivity in order to provide an additional method of presentation of the fair
value of our assets and the cash flows that we expect to generate from those
assets based on the market's forward-looking pricing expectations as of June 30,
2022. The historical 12-month pricing average in our 2021 disclosures under the
heading "Summary Reserve Data based on SEC Pricing" does not reflect the oil and
natural gas futures. We believe that the use of forward prices provides
investors with additional useful information about our reserves, as the forward
prices are based on the market's forward-looking expectations of oil and natural
gas prices as of a certain date, although we caution investors that this
information should be viewed as a helpful alternative, not a substitute, for the
data presented based on SEC Pricing. In addition, we believe strip pricing
provides relevant and useful information because it is widely used by investors
in our industry as a basis for comparing the relative size and value of our
proved reserves to our peers and in particular addresses the impact of
differentials compared with our peers. Our estimated historical reserves, PV-0
and PV-10 based on NYMEX Pricing, were otherwise prepared on the same basis as
our estimations based on SEC Pricing reserves for the comparable period. Reserve
estimates using NYMEX Pricing are calculated using the internal systems of the
management of the Company and have not been prepared or audited by an
independent, third-party reserve engineer, but otherwise contain the same
parameters, except for price and minor system differences.

                                                 Crescent Energy Company    

Acquisition of Uinta

                                                               As of December 31, 2021(1)
Net Proved Reserves:
Oil (MBbls)                                                       209,908                         43,142
Natural gas (MMcf)                                              1,534,371                        141,098
NGLs (MBbls) (3)                                                   78,615                             -
Total Proved Reserves (MBoe)                                      544,252                         66,659
PV-0 (millions) (2)                             $                  12,183            $             2,110
PV-10 (millions) (2)                            $                   7,091            $             1,551
Net Proved Developed Reserves:
Oil (MBbls)                                                       157,868                         25,062
Natural gas (MMcf) (3)                                          1,468,815                         93,735
NGLs (MBbls) (3)                                                   68,499                             -
Total Proved Developed Reserves (MBoe)                            471,169                         40,685
PV-0 (millions) (2)                             $                   9,930            $             1,362



                                       3
--------------------------------------------------------------------------------
                                            Crescent Energy Company              Uinta Acquisition
                                                          As of December 31, 2021(1)
PV-10 (millions) (2)                       $                   5,939            $             1,091
Net Proved Undeveloped Reserves:
Oil (MBbls)                                                   52,040                         18,080
Natural gas (MMcf)                                            65,556                         47,363
NGLs (MBbls) (3)                                              10,116                             -
Total Proved Undeveloped Reserves
(MBoe)                                                        73,083                         25,974
PV-0 (millions) (2)                        $                   2,253            $               748
PV-10 (millions) (2)                       $                   1,152            $               460


(1) NYMEX, PV-0 and PV-10 reserves of Crescent Energy Company and the Uinta

    Acquisition were determined using index prices for oil and natural gas,
    respectively, without giving effect to derivative transactions and were
    calculated based on settlement prices to better reflect the market
    expectations as of that date, as adjusted for our estimates of quality,
    transportation fees, and market differentials. The NYMEX reserves

calculations are based on NYMEX futures prices at close on June 30, 2022

for oil and natural gas. The average adjusted prices of the products on the

the remaining life of the properties is $70.17 per barrel of oil, $4.45 by Mcf

of natural gas and $29.40 per barrel of NGL at December 31, 2021. We

believe that the use of futures prices offers investors

useful information about our reserves, as futures prices are based on

forward-looking market expectations for oil and natural gas prices at

certain date, although we caution investors that this information should be

considered a useful alternative, not a substitute, for the data presented

based on SEC price. See “Item 1A. Risk Factors-Risks Related to Petroleum and

the natural gas industry and our operations – Reserve estimates are dependent on many

assumptions which may prove to be inaccurate. Any material inaccuracy in

reserves estimates or underlying assumptions will have a material effect on the

quantities and present value of our reserves” in our annual report on form

10-K for the year ended December 31, 2021.

(2) Present value (discounted at PV-0 and PV-10) is not a financial measure

calculated in accordance with GAAP as it does not include the effects of

taxes on future net income. Neither PV-0 nor PV-10 represent a

estimate of the fair market value of our oil and gas properties. Our

The PV-0 measure does not provide a discount rate for estimated future cash

flows. The PV-0 therefore does not reflect the risk associated with future cash

flow projections like PV-10 does. PV-0 should therefore only be evaluated in

as part of an assessment of our discounted future net cash PV-10

flows. We believe that the presentation of PV-0 and PV-10 is relevant and

useful to our investors on the future net cash flows of our reserves in

the absence of a comparable measure such as a standardized measure. We and

others in our industry use PV-0 and PV-10 as a measure to compare the

the relative size and value of proved reserves held by companies without regard to

to the tax specificities of these entities. Investors should be

cautioned that neither PV-0 nor PV-10 represents an estimate of the fair

market value of our proved reserves. GAAP does not prescribe any

corresponding measure for PV-10 of reserves based on pricing other than SECOND

Pricing. Therefore, it is not possible for us to reconcile our PV-10

using NYMEX pricing at a standardized measure as determined in accordance with

GAAP.

(3) Natural gas reserves acquired as part of the Uinta acquisition are presented in “wet”

MMcf, which includes NGLs. Crescent Energy Company uses the three-stream reserve

information, with NGL reserves reported separately. Therefore, book

estimates of Crescent Energy Company are not comparable to reserve estimates

    for the Uinta Acquisition.


                                   * * * * *

On a pro forma basis for the Transactions, our capital expenditures, excluding acquisitions, incurred during the year December 31, 2021 and the six months ended June 30, 2022 totaled approximately $231.6 million and $278.9 millionrespectively.

                                   * * * * *

                                       4

--------------------------------------------------------------------------------

Item 9.01 Financial statements and supporting documents.


  (b) Pro Forma Financial Information


The following unaudited pro forma condensed combined financial information of
the Company, giving effect to the Uinta Acquisition, attached as Exhibit 99.1
hereto:

• Unaudited pro forma condensed combined income statement for the

             six months ended June 30, 2022; and



  •   Notes to the Unaudited Pro Forma Condensed Combined Financial Statements.



  (d) Exhibits.



Exhibit                                  Description

99.1* Unaudited pro forma condensed combined income statement for

            the six months ended June 30, 2022.

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).



* Filed herewith.



                                       5

————————————————– ——————————

© Edgar Online, source Previews

Biden, Putin and Xi? Good participation in the G-20, but not enough

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Comment

Indonesian President Joko Widodo has long put domestic concerns ahead of diplomacy. It is now set to host one of the most important geopolitical gatherings in years. On Thursday, he told Bloomberg News that Russia’s Vladimir Putin and China’s Xi Jinping planned to attend the G20 summit. For image-conscious Jokowi, that counts as a victory – the two leaders have not traveled much since the start of 2020, and bringing together US President Joe Biden and the world’s two top autocrats in Bali could help fight the crisis. global security, energy and climate crises.

But the hard work in preparation for the November summit has only just begun.

Indonesia, hosting the G-20 presidency for the first time this year, will no doubt have hoped for a status-enhancing mandate. It couldn’t have turned out more differently. Russia’s invasion of Ukraine continues to threaten Europe and jeopardize the world’s food supply, and Moscow continues to actively sow divisions among emerging countries. Then there are the growing tensions between the United States and China over Taiwan and many other things. The world is on edge.

For now, the global plan — and Indonesia’s — seems to be to keep the show on the road and the G-20 together. This is important, given the deep differences that have opened up between the mostly wealthy allied governments that support Ukraine and the Global South, and the few opportunities for engagement. There is symbolism in coming together, and Indonesia has already skirted the contentious issue of Putin’s attendance by inviting Ukrainian President Volodymyr Zelenskiy, who will likely join remotely, to attend. Two-way conversations, like the potential one-on-one between Xi and Biden, can have consequences.

Whatever happens, however, simply avoiding the worst is a worrying bar.

There is certainly no real prospect that the Russian war, the biggest issue eclipsing the global agenda, will be resolved in Bali, although a lot can happen by November. It is also true that the G-20 faces a crisis that threatens to permanently divide its membership between those aligned with international sanctions and efforts to isolate Russia over Ukraine, and the others. But all actors can do better.

Indonesia, for starters. Jokowi’s State of the Nation address this week described a country that has reached “the pinnacle of global leadership”, which can serve as a “bridge of peace” between Ukraine and Russia. He must follow through on these laudable diplomatic ambitions and make far more historic political and military ties with Russia and economic ties with Ukraine. Jokowi’s trip to Kyiv and Moscow earlier this summer was a milestone – he was the first Asian leader to visit both since the conflict began – but where did it lead? Indonesia is a major importer of grain and fuel. Putin, apparently, made broad promises regarding security guarantees for the supply of food and fertilizers. Why, then, after the June shuttle diplomacy, does Jakarta appear to have played no significant role in brokering a grain deal to facilitate Ukrainian exports?

The United States, for its part, can encourage Indonesia to follow through on its intentions and maintain common ground. Indonesia was one of the founders of the Non-Aligned Movement during the Cold War. Today, that stance should involve speaking out against a war that violates Jakarta’s foreign policy and pointing out that Moscow talks about food security on the one hand and bombs grain silos on the other. It hit the port of Odessa a day after the grain deal was reached. To do otherwise is to support the Kremlin narrative.

To have the credibility to make these demands, Washington must develop a much more proactive and holistic policy toward Indonesia, Southeast Asia, and the emerging world in general. It is not enough to say, as Antony Blinken did last week in South Africa, that the choices will not be dictated, which means that countries will not be forced to choose sides between China and the States -United. An alternative and coherent vision is needed – and not simply in opposition to Beijing.

Finally, there are areas where all G-20 nations can and must make progress, including climate, which is on the global agenda in November as the UN conference convenes in Egypt. . Last year the G-20 failed. Drought is hurting industries and agriculture from Sichuan to Texas, and the global energy system is creaking. Talking about democracy is laudable, but there could be no better way to demonstrate the rich world’s commitment to the rest than by ultimately paying for everyone to fight and adapt to global warming.

More from Bloomberg Opinion:

• Can Jokowi’s shuttle diplomacy influence Russia? : Clara Ferreira Marques

• On the energy markets, Putin wins the war: Javier Blas

• To save the planet, poor countries must be paid: Mihir Sharma

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Clara Ferreira Marques is a Bloomberg Opinion columnist and editorial board member covering foreign affairs and climate. Previously, she worked for Reuters in Hong Kong, Singapore, India, UK, Italy and Russia.

More stories like this are available at bloomberg.com/opinion

Going green in the security industry: two key trends shaping a more sustainable future

0






Sustainable development has universally become a top priority, and the transition to a net zero world is a major challenge. Net-zero means reducing greenhouse gas emissions as close to zero as possible, and a growing coalition of countries led by the United Nations has set ambitious targets that cover around 76% of global emissions. This includes China and its “dual carbon” goal of seeing its national CO2 emissions peak before 2030 and then achieve carbon neutrality by 2060. In the security sector, swift and decisive action is needed to ensure we do our best to meet climate goals and create a more sustainable future .

To achieve this goal, security industry players are taking a number of new initiatives that can make a positive difference and two key trends have emerged. First, companies are striving to develop more durable products – made from more durable materials, minimizing the need for replacement or repair, and more energy efficient. Second, they pay more attention to making manufacturing processes as sustainable as possible in terms of energy consumption and materials used.

The good news here is that advances in technology are providing manufacturers with more sustainable products and processes than ever before. In particular, advances in AI (artificial intelligence), the Internet of Things (IoT) and big data have led to a more advanced and intelligent society, as well as more sustainable manufacturing processes and products. . The following sections describe in more detail the two main trends – production and process – emerging in the security industry to improve sustainability.

1) Green production: Creating more sustainable products

The first step towards greener production for security manufacturers lies in the path of new innovations in research and development (R&D), focusing more efforts on reducing the carbon footprint of their products and technologies while maintaining the quality and durability. For example, great strides are being made in reducing data storage power consumption.

Security manufacturers are also rolling out products with longer lifespans, products made from recyclable materials and packaging, and products powered by renewable energy. Each of these initiatives reduces waste and emissions. For example, the demand for solar cameras has increased in recent years due to its well-established efficiency in utilizing the clean and unlimited energy of the sun.

The “all-in-one” product design concept has also gained traction in the security market, as it combines multiple functions into one device, which is beneficial to reduce production materials, accessories and energy consumption. Using 3D technology to create digital prototypes is also gaining popularity, as it reduces the waste of materials and resources once used for prototypes during product development. Through technological innovations, greener designs will both provide a low-carbon product to customers and help them reduce their carbon footprint during use.


2) Green Operation: implementation of sustainable manufacturing processes

Security manufacturers are also adopting greener practices in their manufacturing and day-to-day operations to comply with local laws, regulations and policies aimed at reducing carbon emissions. More and more companies in a variety of industries have set medium and long-term goals for environmental management, ranging from lower carbon production, efficient water use and from waste and chemical management, to greener transformations of the office environment. ISO 14001-compliant manufacturers can bolster their qualifications by reviewing their production process and regularly auditing their suppliers to create a sustainable cycle of production operations and procedures.

As they become more environmentally friendly, manufacturers are looking for ways to apply clean technologies in their production chains. This will reduce the release of hazardous substances, such as wastewater and VOCs (volatile organic compounds), minimizing their negative impact on the environment.

On the operations side, green practices include encouraging paperless offices, choosing energy reduction systems and using recycling systems as part of the move towards energy conservation, reducing consumption and protecting the environment.

In summary, as low-carbon initiatives invade our global communities, the security industry can seize many well-known opportunities to promote sustainable development by producing low-carbon and energy-efficient products, and by leveraging more sustainable manufacturing processes. Many of these practices can also be referred by manufacturers in other industries who have already explored new avenues for cleaner operations.

Hikvision is always striving to improve its care and consideration for the environment, optimize the use of resources, reduce pollutants, and explore low-carbon technologies in its operations and technological innovations. To learn more about Hikvision’s commitment to sustainability, please visit our website and view our ESG report.

Disclaimer

Hikvision Digital Technology Co.Ltd. published this content on August 18, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Aug 18, 2022 11:03:03 PM UTC.

Public now 2022

All news about HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.

2022 sales 91,121M
13,428 million
13,428 million
Net income 2022 16,928 million
2,495 million
2,495 million
Net cash 2022 35,138M
5,178M
5,178M
PER 2022 ratio 17.4x
2022 return 2.84%
Capitalization 295B
43,509M
43,509M
EV / Sales 2022 2.85x
EV / Sales 2023 2.30x
# of employees 52,752
Floating 40.9%

Chart HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.


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Evolution of the income statement

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Medium consensus TO BUY
Number of analysts 20
Last closing price CNY31.30
Average target price CNY50.34
Average Spread / Target 60.8%


LONGi among the 2022 Best Managed Companies in China

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Xian, China, August 17, 2022 /PRNewswire/ — About August 12, 2022, Deloitte China announced the 50 winners of the China’s Best Managed Companies 2022 reward program. LONGi Green Energy Technology Co., Ltd. (LONGi) was among the selected companies, part of the global BMC enterprise with its outstanding performance under Deloitte’s global management excellence standards framework in the four dimensions of “Strategy, Capability, Engagement and Finance”.

The BMC Global Program was co-launched by Deloitte, Bank of Singapore, HKUST Business School and Harvard Business Review. The program has a 29-year history and aims to identify organizations with exceptional and systematic management skills. As the only international award that comprehensively assesses the management system of private enterprises in Chinaall previous winners are “hidden champions” and top private companies in various segments of China.

“The 2022 Best Managed winners demonstrated strong business performance and brand values. Although these companies have faced multiple challenges like COVID-19, they have exemplified resilience and the ability to recover quickly from the pandemic and adapt to new situations. said Xu Kemanaging partner of Deloitte Private China.

“LONGi has always been a strong believer in the long term. It not only takes long-term reliability as the basic principle of product development, but also innovatively promotes the concept of “producing clean energy products from ‘clean energy’ in the photovoltaic industry, adhering to responsible production and assume increasing responsibility for global sustainable development. In an interview with Deloitte China and Harvard Business Review, Zhong Baoshen, Chairman of LONGi, noted that although LONGi is innovative, reliability should be the main standard, so that these long-term energy assets can be preserved and the benefits can be fully utilized.

During this year’s event, representatives from 50 award-winning companies discussed how to transcend the economic cycle and collaborate to achieve greater social value by focusing on the themes of “Co-create customers” and “Co-creation of environment”. Liu Xiaodongsecretary of LONGi’s board of directors, accepted the award on behalf of the company, and announced co-creation initiatives for 2022-2023 on behalf of all BMC awardees as the company’s annual rotating chairman.

About LONGi

Founded in 2000, LONGi is committed to being the global leader in solar technology, focusing on customer-centric value creation for comprehensive energy transformation.

Under its mission of “making the most of solar energy to build a green world” and its brand philosophy of “constant and reliable technology leadership”, LONGi has been dedicated to technological innovation and has established five business areas, covering wafers, cells and mono-silicon modules. , commercial and industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to deliver green power and has more recently embraced green hydrogen products and solutions to support global zero-carbon development. www.longi.com

SOURCE LONGi Green Energy Technology Co.,Ltd

Duke Energy Supports Grid Reliability and Operations with Two New Florida Lithium-Ion Battery Sites | duke energy

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  • Company Completes New Battery Storage Sites in Alachua and Hamilton Counties to Maximize Customer and Network Benefits


  • New Sites Show Duke Energy’s Growing Investment in Advanced Technology and Clean Energy

ST. PETERSBURG, Fla. – Duke Energy Florida today announced two new lithium-ion battery sites in Alachua and Hamilton counties to improve grid operations, increase efficiency and improve overall reliability for surrounding communities.

“At Duke Energy, we are always on the lookout for innovative technologies that can help us better serve Florida customers,” said Melissa Seixas, State President of Duke Energy in Florida. “These battery sites will help us continue to improve local reliability for our customers and provide important energy services to the power grid.”

As the manager and operator of the grid, Duke Energy Florida can leverage the versatility of battery technology to deliver multiple benefits to customers and the power system, including balancing power demand, managing intermittent resources such as than solar power, increasing energy security and postponing upgrades to the traditional power grid.

  • The recently completed Micanopy Battery Site in Alachua County is 8.25 megawatts and is located 15 miles southwest of Gainesville. The site provides a cost-effective solution for targeted energy quality and reliability for the town of Micanopy and its close neighbours.
  • Completed in April, the second site is 5.5 megawatts and is located 1.5 miles south of the Florida-Georgia border in the town of Jennings in Hamilton County. This site will continue to improve power reliability through energy storage as an alternative to installing new, more expensive distribution equipment.

Duke Energy Florida’s continued investment in battery technology reflects the company’s belief that energy storage plays an important and evolving role in how energy is delivered to customers today and in the future. ‘coming.

Earlier this year, Duke Energy Florida announced the completion of three battery projects in Gilchrist, Gulf and Highlands counties. The new sites are part of Duke Energy’s commitment to have six battery sites, totaling 50 megawatts, in operation in Florida this year.

Duke Energy Florida’s Commitment to Renewable Energy

With a combined investment of more than $2 billion, Duke Energy Florida’s solar generation portfolio will include 25 grid-connected solar power plants that will benefit all Florida customers and provide 1,500 megawatts of emission-free generation and approximately 5 million of solar panels in the ground by 2024.

Duke Energy remains committed to the deployment of battery technology in Florida. A 3.5 megawatt solar microgrid and storage site will be added to Johns Hopkins College in Pinellas County. The microgrid will support grid operations and provide backup power to the school when it needs to function as a special needs hurricane evacuation shelter. The microgrid consists of an array of 1 megawatt solar parking canopies, a 2.5 megawatt battery and associated controls, which will store and deploy clean, renewable energy throughout the school and the network. The project improves electrical service and network operations for customers.

In addition to expanding its battery storage technology and solar investments, Duke Energy Florida is investing in transportation electrification to support the growing adoption of electric vehicles (EVs) in the United States with the addition of 627 charging stations EV charging stations, including 52 DC fast chargers, and a modernized system. power grid to provide diversified and reliable energy solutions to better serve our customers.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, has 10,300 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers over a 13,000 square mile service area in Florida.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively possess 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to meet its goals of net methane emissions from its natural gas business and at least 50% carbon reduction from power generation by 2030 and net emissions carbon emissions by 2050. Zero goals also include Scope 2 emissions and some Scope 3 emissions. zero-emission power generation such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on TwitterLinkedIn, Instagram and Facebook.

Media contact: Audrey Stasko
Cell: 315.877.3031
Media line: 800.559.3853
Twitter: @DE_AudreyS

Switch off: the risk for the deployment of a clean energy network

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A national clean energy grid will require 10,000 kilometers of new high voltage transmission lines and towers. Regional and farming communities along the roads will need to be on board for this to happen, but there is already a pushback, as Asma Aziz and Iftekhar Ahmad Explain.

If you’re driving through central Victoria, you might wonder at the signs that say ‘Piss off AusNet’ in shop windows or even mowed down in the grasslands. Communities and farmers are repulsive against plans for new 85-meter towers and transmission lines needed to bring renewable energy to cities.

Expect to see many more of these stories in the years to come. To decarbonize by 2050, we need to build more than 10,000 kilometers of new high-voltage transmission lines to carry renewable energy. That’s according to the Australian Energy Market Operator’s new plan for the energy system, to which Labor pledged ahead of the election.

But local opposition could derail this – even though the influential National Farmers Federation has supported the plan. The plan recognizes this: “As the pace and scale of transformation continues to accelerate…social acceptance will require urgent and continued attention. »

Why do we need more transmission lines?

High voltage transmission lines can deliver electricity economically and efficiently over longer distances. For decades, we have used these transmission lines to balance electricity demand and generation.

Australia’s National Electricity Market is one of the longest interconnected electricity systems in the world, capable of moving electricity between the east coast states, Tasmania and South Australia.

To increase our renewable electricity base, governments have introduced renewable energy zones – our sunniest and windiest places – to encourage investment. But these areas are often far from energy-intensive cities. This is where transmission lines come in.

Building more high-voltage lines will allow us to make the future network more resilient, allowing electricity to be brought in from other areas if an area is not producing as much, or to be exported in the event of a peak in production. This is a key way to solve the problem of intermittency with renewable energy. If the sun is not shining or the wind is not blowing in an area, we can draw energy from the places where it is.

solar farm
Solar and wind farms need grid connections – and that means new power lines.
Zbynek Burial/UnsplashCC BY

Are there alternatives?

As battery technology and other methods of storing electricity improve, it may be possible to increase storage methods rather than relying on large new transmission links.

Vast and sparsely populated Western Australia leads the way on this front. To reduce transmission costs, the state has deployed more than 100 stand-alone power systems that combine renewable energy and storage. Over the next 10 years, WA expects another 4,000.

This model shows us what might be possible for sections of the East Coast network. We could see a decentralized power system, in which local renewable energy is produced and stored locally in stand-alone power systems or micro-grids. Cities like Yackandandah in Victoria are pioneering this local-first approach.

We could postpone or scale down these massive transmission network projects and make the most of our existing transmission lines by strategically deploying virtual transmission capacity. This means setting up battery storage or a small pumped hydro plant, reducing the need to source electricity from distant sources while maintaining the balance between supply and demand.

There is still a lot of work to be done on this front before virtual transmission can begin to reduce the amount of new transmission infrastructure we will need. Early virtual transmission projects like Kennedy Energy Park showed us that we need a better technical understanding of how they work best, as well as updated regulations.

Utilities like Powerlink Queensland are exploring alternatives such as duplicating existing transmission lines or planning lines for areas already under development, such as along highways or forest tracks.

Community advocates worried about the visual and physical impact of new transmission lines often advocate for cables to run underground.

It is possible, but may be more expensive. To bury these high-voltage lines safely, trenches 2 to 3 meters deep are needed, dug in parallel, with control bays every 800 to 1,000 meters. Compared to transmission towers, this actually results in a higher direct impact on the terrain.

Not only that, but you can’t allow deep-rooted trees and shrubs in the easement, which means upkeep. If there is a fault, the affected ground must be dug up. Major bushfires can also transmit significant heat through the ground to cables, so this needs to be taken into account.

Does this exclude underground transmission lines? Not entirely. In fact, in some cases it could be profitable, as the proposed Star of the South offshore wind project demonstrates.

trenching
Burying electrical cables can be cost effective for some projects, but this is a case-by-case approach.
Shutterstock

Could community opposition slow the shift to clean energy?

It is a risk. Efforts to remove emitting sources of electricity from our grid will face a real bottleneck based on the social acceptance of new high-voltage transmission lines.

Even though 83% of us now recognize climate change as a threat, people may change their minds when clean energy solutions are offered close to home. This isn’t new – the “not in my backyard” problem is well known.

So how do we deal with rejection from the community? First, we must recognize that these transmission lines are an imposition. They have a significant footprint on their land corridors, in the form of tall towers, conductors, and the need for access.

Local landowners, neighbors and the wider community often perceive these types of developments – whatever the need – as a symbolic intrusion into their personal property.

Victorian farmers and residents are protesting the AusNet project, believing the new infrastructure will lead to loss of control over their land, an uglier landscape and possible restrictions on farming practices such as irrigation. Their concerns are legitimate. But the need is also great, and time is limited.

We know what’s wrong with these settings. The traditional approach for large pieces of infrastructure has been dubbed decide, announce and defend. It would be a mistake.

Instead, utilities and planners should focus on open community discussions about the environmental impact of proposed overhead transmission lines versus the costs and impacts of underground cabling, as well as virtual site tours. By clearly exposing the problem to the public, utilities have a better chance of gaining social license – community permission – to build the infrastructure we will need.

Asma Aziz, Lecturer in Electrical Engineering, Edith Cowan University and Iftekhar Ahmad, Associate Professor, Edith Cowan University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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2022 Global Building Technology and Services Innovation and Growth Opportunities Report – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global building technologies and services, opportunities for sustainability innovation and growth” report has been added to ResearchAndMarkets.com’s offer.

The global building technologies and services market was worth $971.44 billion in 2021. After a decline of 5.3% in 2020, the market grew by 1.4% in 2021 and will register a CAGR of 4 .6% from 2021 to 2026. By the end of the forecast period, the market will reach $1,274.53 billion.

Companies continue to react to the impact of two major trends; the ongoing coronavirus pandemic and climate change. The pandemic has created financial austerity among public and private organizations, and companies have also accelerated the decarbonization of business operations to gain competitiveness.

As businesses resume business operations and building occupancy after the peak of the pandemic, organizations face challenges in ensuring safe workplaces and sustainability practices such as near-zero or net-zero emissions. Additionally, governments are striving to improve their performance on the Sustainable Development Goals (SDGs) amid economic recovery and post-pandemic challenges. Technologies continue to play a role in the advancement of building technologies and services. A major innovation is the use of digital tools in industry, mainly the construction of information management systems.

Building technologies and services will contribute to the three main goals: smart energy infrastructure, climate-smart cities and green businesses.

These goals lead to sustainable innovation in the marketplace. In this study, the publisher defines sustainable innovation in building technologies and services as solutions that promote environmental sustainability in building operations and environmentally friendly outcomes, such as, but not limited to, energy savings, optimization of resource use and reduction of carbon emissions in the building ecosystem.

A smart energy infrastructure would imply self-sufficiency in energy use and resilience in electricity supply. Next, climate-smart buildings would require energy optimization as well as occupant safety and comfort. Last but not least, green businesses would call for sustainable business operations and the use of environmentally friendly materials. On a global scale, these will contribute to the development of the United Nations Sustainable Development Goals (SDGs).

In this study, the editor segments building technologies and services into building automation systems (BAS); light emitting diode (LED) lighting; heating, ventilation and air conditioning (HVAC) equipment; and facilities management (FM). Market breakdown, forecasts and competitive analysis are provided for the aforementioned segments. As the study focuses on sustainability practices and associated growth opportunities, the breakdown of end users (for market and segments) is outside the scope of the research. Examples of sustainability innovation applications and best practices for each segment are provided in the study.

Main topics covered:

1. Strategic imperatives

2. Analysis of growth opportunities: building technologies and services

  • Scope of analysis

  • Segmentation

  • Definitions of sustainability innovation

  • SDGs

  • Impact of the SDGs on building technologies and services

  • Environmental effects of COVID-19

  • Sustainability topics in building technologies and services

  • Main competitors: building automation systems

  • Main competitors: LED lighting

  • Main competitors: HVAC

  • Main competitors: FM

  • Growth indicators

  • Growth engines

  • Growth constraints

  • Forecast assumptions

  • Revenue forecast

  • Revenue forecasts by technology and service segment

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Revenue forecast analysis by region

  • Achievement of the SDGs in selected countries – 2021

  • Investment in the SDGs

  • Goals for Sustainable Building Technologies and Services

3. Analysis of growth opportunities: BAS

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Sustainable Innovation Applications in BAS – 2021

  • Best practices for sustainability innovation in BAS: Microgrid

  • Sustainability Innovation Best Practices in BAS: District Energy

  • Best Practices for Sustainability Innovation in BAS: District Heating

  • Sustainability Innovation Best Practices in BAS: Building Occupancy

  • Sustainability Innovation Best Practices in BAS: Facility Services

4. Growth Opportunities Analysis: LED Lighting

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Applications of Sustainable Innovation in LED Lighting – 2021

  • Innovation Best Practices for Sustainability in LED Lighting: Off-Grid Lighting

  • Innovation Best Practices for Sustainability in LED Lighting: Smart Controls

  • Innovation Best Practices for Sustainability in LED Lighting: Smart Street Lights

  • Best Practices for Sustainability Innovation in LED Lighting: Circular Lighting

5. Analysis of growth opportunities: HVAC

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Sustainable Innovation Applications in HVAC – 2021

  • HVAC Sustainability Innovation Best Practices: Sustainable District Heating and Cooling (DHC)

  • HVAC Sustainability Innovation Best Practices: Heat Pump

  • HVAC Sustainability Innovation Best Practices: Smart Thermostat

  • HVAC Sustainability Innovation Best Practices: Energy Modeling and Analysis

  • HVAC Sustainability Innovation Best Practices: Refrigerant

6. Analysis of growth opportunities: FM

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue Sharing – FM

  • Revenue share analysis

  • Sustainable Innovation Applications in FM – 2021

  • Sustainability Innovation Best Practices in FM: Energy Security

  • Best Practices for Sustainability Innovation in FM: Energy Services

  • Sustainability Innovation Best Practices in FM: New Service Model

  • Sustainability Innovation Best Practices in FM: Green Cleaning

7. Universe of growth opportunities

  • Growth opportunity ecosystem

  • Growth Opportunity 1: ESG Proposition

  • Growth Opportunity 2: Blockchain for Green Finance

  • Growth Opportunity 3: Integrated Data Management

  • Growth Opportunity 4: Open Innovation

  • Growth Opportunity 5: Nature-Based Solutions (NBS)

8. Appendix

9. Next steps

For more information on this report, visit https://www.researchandmarkets.com/r/2vv8uc

Alkaline Fuel Cell Power Advan

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TORONTO, Aug. 16, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (ALKFF, financial) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Company”)a diversified investment platform developing affordable, renewable and reliable clean energy and technology assets, is pleased to announce that PWWR Flow, the company’s combined heat and power (“CHP”) brand , is advancing an approximately $2.2 million capital CHP project for a condominium in downtown Toronto, Canada (the “Cogeneration project”). The CHP project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year energy service contract (« ESA“) Time range.

“Our PWWR Flow brand is positioned to generate more immediate revenue and contribute to AFCP profits to complement our longer term alkaline hydrogen fuel cells.commented Frank Carnevale, CEO. “We are actively moving forward in our $50 million sales pipeline of CHP projects, and have already begun discussions to move beyond that.”

A photo accompanying this ad is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307

PWWR Flow project in downtown Toronto

As shown in the PWWR stream acquisition closing press release dated April 22, 2022, the Company has formally notified the relevant condominium company (“Condominium company”) that PWWR Flow is moving forward with the development of the estimated $2.2 million CHP project, targeting a commercial operation date of July 2023. The ESA was signed with Condo Corp on April 21, 2021. The CHP project would produce electricity and heat 24 hours a day, 7 days a week for the base load of the condominium. The electricity produced will be sold to the Condo Corp at a discount of up to 20% from the market price that the Condo Corp would otherwise pay to its local utility company, allowing it to realize significant savings. The heat produced will be sold at the price equivalent to the current heating cost of the condominium. It is a high-efficiency cogeneration system with an estimated annual efficiency of around 75%.

AFCP immediately begins the connection impact assessment study required to connect to Toronto Hydro’s service territory, as well as the final engineering design. The company expects to order the CHP engine in the fourth quarter of 2022, and the company does not anticipate any supply chain issues with delivery.

Financial update

As stated in the company’s report Q2 financials as of August 12, 2022, AFCP had approximately $3.1 million in cash at the end of the quarter. To supplement this cash balance, the company plans to secure debt from the cogeneration systems project, AI 2191 Yonge Ltd., and this latest project, by the fourth quarter of 2022. In the meantime, the AFCP will continue to allocate its current cash to the development of new projects.

2022 outlook report

As indicated in our press release dated June 20, 2002, the Company provided a outlook for the remainder of 2022, a key component of which includes continued growth of the PWWR Flow Streams business. AFCP intends to expand the company’s install base of assets by leveraging the continued revenue and profits generated from PWWR Flow as we continue to develop the $50 PWWR Flow projects. millions of dollars in our pipeline over the next few years.

ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

The AFCP is a diversified investment platform developing affordable, renewable and reliable energy assets and clean technologies. We are bringing “Power to the People” today, combining a stable revenue stream with a forward-looking vision to commercialize our advanced hydrogen fuel cell technology to meet the massive needs of the global market and ultimately account, generate attractive returns for investors.

AFCP operates through two global entities: Fuel Cell Power NV, a wholly-owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an AFCP brand in Canada.

  • Fuel Cell Power SA focuses on the development, production and marketing of micro-combined heat and power (“micro-CHP”) systems based on advanced alkaline fuel cell technology that generates zero CO2 emissions. Fuel Cell Power NV achieves significant milestones to deliver an alkaline fuel cell to market in 2024.
  • PWWR stream focuses on the development, ownership and operation of combined heat and power (“CHP”) assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs for customers in multi-residential and commercial applications. PWWR Flow has contracted existing cogeneration assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development.

The AFCP is well positioned to deliver “power to the people” in the global energy transition while providing a platform for diversified cleantech growth for investors.

Further information is available on the Company’s website at https://www.fuelcellpower.com/and the Company encourages investors and other interested stakeholders to follow it on:

LinkedIn, Twitter, Facebook, instagram and Youtube. The Common Shares are listed on the NEO Exchange (“NEO”) under the symbol “PWWR», the OTC Venture Exchange « OTCQB » under the symbol «ALKFF» and on the Frankfurt Stock Exchange under the symbol «77R and “WKN A3CTYF.

For more information, please contact:

Frank Carnevale

Chief executive officer

+1 (647) 531-8264

[email protected]

Forward-looking information

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In some cases, forward-looking statements can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”, “expects” , “intends”, “anticipates”, “believes” or variations of these words and phrases or statements that certain actions, events or results “could”, “could”, “could”, “could”, ” occur” or “accomplish”. Forward-looking statements may include, but are not limited to, statements regarding the Company’s technology, intellectual property, business plan, objectives and strategy.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of the Company’s management regarding the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Because forward-looking statements and information relate to future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements and information contained in this press release are made as of the date hereof, and no obligation is given to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

NEITHER THE NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE NEO EXCHANGE POLICIES) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

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CGE Energy announces corporate restructuring to focus on

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BRIGHTON, Michigan, Aug. 15, 2022 (GLOBE NEWSWIRE) — CGE Energy, Inc. (“CGE”, OTC: CGEI) is pleased to announce that it is proceeding with the next phase of its business plan, focusing on accelerating development and promoting the world’s first self-powered macro cell tower system.

In order to highlight this unique and revolutionary product, which was created by CGE’s wholly-owned subsidiary – Aradatum, Inc. – and to bring additional value to the Company, the CGE Board of Directors voted to unanimously last week to take all the necessary measures to effect the merger of CGE into a future subsidiary of Aradatum.

Upon completion of the merger, each of CGE’s registered shareholders will hold a number of Aradatum shares equivalent to the CGE shares they held at the time of the merger. CGE’s Board of Directors has made its approval conditional upon completion of the merger on a tax-free basis, and the merger will be submitted to CGE’s shareholders for final approval at the Company’s general shareholders’ meeting.

About CGE Energy, Inc.

CGE Energy, Inc. is a holding company with two wholly owned subsidiaries, Aradatum, Inc. and Clean Green Energy, Inc.

About Aradatum, Inc.

Aradatum is a technology company that has created the world’s first self-powered macro cell tower that you can place literally anywhere. Aradatum creates the infrastructure to solve the geographic and energy problems caused by the limited range of next-generation wireless networks. The towers provide secure and instant communication for telecommunications and network infrastructure equipment running advanced applications for 5G, private networks and edge computing. www.aradatum.com

About Clean Green Energy, Inc.

Clean Green Energy, Inc. develops long-term energy projects that solve the unique energy challenges of its commercial, municipal and non-profit customers. The Company provides both services and products enabling its customers to reduce their energy consumption; reduce their initial, operating and maintenance costs; and generate environmental benefits. www.cgeenergy.com

Contact information for press releases

CGE Energy, Inc.
Paul Schneider, VP Marketing
248-446-1344
[email protected]

This release may contain “forward-looking statements” which fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “are intended” , “probably will result”, “believes”, “expects”, “will continue”, “anticipates”, “estimates”, “intends”, “plans”, “contemplates”, “seeks”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations regarding its future plans and performance. All forward-looking statements included in this release are based on information available to us as of the date hereof and speak only as of the date hereof. We promise not obligation to publicly update or revise any forward-looking statement. Actual results may differ materially from those projected in the forward-looking statements.

UK trade body calls on government to prioritize domestic energy production

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As sanctions on Russia lead to supply and price shocks, the British offshore energy industry representative body, Offshore Energies UK (OEUK), has urged the government to prioritize the production of national energy to protect consumers from these ramifications.

Offshore Energies UK – formerly Oil & Gas UK (OGUK) – issued its statement on Monday after a House of Commons briefing showed that in June 2022 the UK imported no oil, gas Where coal imports from Russia. According to UK trade statistics, this was “the third month in a row without importing Russian gas, but the first month (since 2000, when this data is available) without importing gas, oil or coal from Russia”.

Energy security concerns exacerbated by Russia’s attack on Ukraine led to the recent spike in global energy prices, which reversed the trend of weak demand and operating losses seen the previous year.

Bearing this in mind, the OEUK warned that global efforts to phase out Russian oil and gas will impact supply and prices for years to come, reiterating calls for a long-term energy strategy. which recognizes that 85% of UK households depend on gas. for heating.

Commenting on this, Will Websterresponsible for energy policy at the OEUK, remarked: “Consumers are only too aware of the impact that the reduction in Russian supplies has had on the world price of oil and gas, and the reality is that these effects will be here to stay for at least the medium term. This is why the UK must prioritize the energy produced here.

“Today, gas heats 85% of UK homes. In the short to medium term, governments must therefore support oil and gas in UK waters and carefully manage already declining production levels. At the same time, these same companies are also building the energy system of the future, including developing renewables to meet more of the UK’s electricity needs, while developing hydrogen and carbon capture which could play a role in home heating and industrial energy.

The House of Commons briefing comes as figures show the UK’s trade deficit has risen to its highest level as a percentage of GDP since records began. This is partly because the UK imports far more oil and gas than it exports.

“We see the reality of the complexity of transitioning to a low-carbon energy future, with a clear need to manage supply and demand as a whole and not in isolation. The transition is a necessity, it is why we continue to stress the need for consensus on a comprehensive, long-term energy strategy that prioritizes UK energy generation and accelerates the transition for industries and consumers,” concludes Webster.

To ease the cost of living crisis in the country, the British government recently imposed a one-off tax on oil and gas operators. However, Offshore Energies UK has warned of the perceived negative effects of this tax on new investment, saying it could already undermine major investment needed to keep Britain’s lights on.

In other OEUK-related news, the trade body recently revealed it is on the hunt for a new chief executive as its current chief is due to step down at the end of the year after nearly eight years. at this post.

Seylan with Hayleys Solar enables easy payment plans for solar power – News Features

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In its attempt to ensure that customers always receive convenient products and services that will enable and enhance life, Seylan Bank has partnered with Hayleys Solar to provide Seylan credit cardholders with Easy Payment Plans (EPPs) to purchase solar units.

With the current energy crisis across the country and the resulting escalation in electricity costs, switching to solar power has become the most sustainable option. However, the high initial cost of installing the panels has limited the use of this alternative. With Seylan Bank’s partnership with Hayleys Solar, the option of going solar becomes accessible and affordable to the public.

The easy payment plan for Seylan cards offers zero percent installment options from three months to six, 12 and 24 months for a minimum transaction of Rs 10,000 and a maximum of Rs 1 million. Customers can switch to the easy payment plan within seven working days by calling the hotline on 0112008888.

Speaking about the partnership, Seylan Bank’s Head of Cards, Ruchith Liyanage said, “Seylan Cards, as an ‘Essential Card for Essential Needs’, has always sought to meet the essential financial needs of our customers. We are constantly trying to identify areas where we can provide them with practical solutions. Especially in these difficult times, Seylan Cards offers a variety of products and services to ease the financial burden of our customers. Also, from a sustainability perspective, it will encourage more people to switch to renewable energy, which will reduce our carbon footprint and our fossil fuel expenditure. As a responsible company, it is our duty to make these sustainable sources of energy accessible to as many Sri Lankans as possible, which could provide a long-term solution to the current energy crisis.

The partnership between Seylan Bank and Hayleys Solar, the renewable energy arm of Fentons Ltd, who are both leaders in their respective industries, ensures the validity of the business. Hayleys Solar primarily focuses on renewable energy and energy storage systems. With over a decade of market excellence, the company has successfully completed over 75MW of solar installations island-wide, making it the undisputed leader in engineering, procurement and Construction (EPC) in Sri Lanka. Energynet, a solution provided by Hayleys Solar, offers a wide range of off-grid, hybrid and battery backup systems.

Fentons Ltd Managing Director Hasith Prematillake said: “As difficult circumstances continue to prevail, it is imperative that we find ways to work together to foster practical and alternative renewable energy solutions. As a responsible organization focused on providing efficient energy solutions, we introduced Energynet to help consumers maintain their lives, operations and productivity. This solution makes it possible to use solar energy even in the event of a power cut, which also provides a solution to nighttime power cuts, thanks to the energy stored in the battery. We are pleased to partner with leading banking and financial institutions to facilitate payments and credit card systems to support our customers during these challenging times. »

Hayleys Solar Managing Director/Director Roshane Perera said, “We strive to develop solutions that can meet the country’s ever-changing energy needs. Energynet is one such ideal solution for today’s power outages and unavailability of fuel, as it allows consumers to power essential devices needed to conveniently continue their daily lives. We are delighted to be able to provide these solutions to help tackle the electricity crisis and we hope to introduce even more innovative solutions in the future.


Andhra Pradesh: Students to participate in energy saving campaign

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To spread the message of energy efficiency and conservation, the National Energy Conservation Mission (SECM) plans to involve students in various activities.

Faced with the constant increase in energy demand and the rapid depletion of resources, the SECM intends to mobilize the student community and fight effectively against energy waste.

The formation of energy clubs in schools is being actively considered to facilitate the awareness of the inhabitants of the state about energy efficient appliances.

This initiative will create a platform for exchanging innovative ideas on energy conservation. The SECM, in collaboration with the Department of Education, will set up these energy clubs and, to date, approximately 75 schools have expressed interest in forming them.

Special Chief Secretary (Energy) K. Vijayanand instructed officials to devise activities to motivate students and teachers and ensure the success of the campaign.

Pilot project

SECM also implemented a pilot project in 85 model schools where old appliances were replaced with efficient electrical appliances such as LED bulbs, tube lights and energy-saving fans.

An impact analysis was also carried out in 51 model schools in order to scientifically assess the actual energy savings.

Based on this study, it is expected that about 6.31 lakh units of electricity per year can be saved in 85 model schools by implementing energy efficiency measures.

What experts say to do before, during and after filing for bankruptcy

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Personal bankruptcy filings have fallen dramatically since the start of the coronavirus pandemic, but with rising interest rates and declining government assistance, the number of filings will likely increase this year, experts say.

“I’ve had more calls in the past few weeks than in the previous six months,” said Charles Juntikka, a New York-based attorney who specializes in bankruptcy law.

Bankruptcy attorney David Leibowitz, principal of Chicago-based Lakelaw, said his firm had “already seen filings in the Chicago area increase by about 25% in the past two months.”

The variety of government stimulus programs, improved tax credits, and protections against evictions and loan foreclosures put in place over the past two years have reduced the number of bankruptcy filings.

More life changes:

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However, community lockdowns and general Covid unrest may also be a factor, suggests Juntikka. “It’s hard for people to deal with the fact that they have to file,” he said. “It takes emotional energy, and they feel guilty about it.

“For every person I help, there are four or five who are miserable.”

Bankruptcy may seem like rock bottom for cash-strapped Americans, but it’s also a fresh start and an opportunity to climb out of a hole that only seems to be getting deeper for many.

It’s not an easy process. A bankruptcy filing stays on your credit history for 10 years and makes it difficult to get a loan or mortgage.

“If you can pay off your debts outside of bankruptcy, you should,” said Leibowitz, former chair of the American Bankruptcy Institute’s Consumer Bankruptcy Committee. “However, if your wages are garnished, your car has been impounded and you are being hounded by collection agencies, bankruptcy may be imperative.”

If you have decided that bankruptcy is your best option, your first decision is to hire an attorney to help you through the process. You can file in court yourself, but the cost of mistakes is high.

Under which chapter of the code should you file? What forms do you need to complete? What mistakes should you avoid? Bankruptcy law is complex and although you can save money by filing for yourself, you could lose a lot more in the end.

“People don’t do their own dental work,” Juntikka said. “You must consult a lawyer.”

What to do

The bankruptcy process involves a series of steps and procedures that must be followed. The type of bankruptcy filing you choose will depend on your situation.

Chapter 7 bankruptcy filings, which represent a significant majority of personal filings, can ultimately discharge most, but not all, personal debt. Alimony, tax debts and student loans are among the liabilities that can remain for the petitioners. Most of your assets are subject to seizure and sale, although there are some exemptions, such as retirement account balances.

To qualify for Chapter 7, you must pass a resource test. Essentially, your income must be below the median income of the state where you are filing. Otherwise, you must file under Chapter 13 of the code.

In this situation, some unsecured debt can be forgiven and you can keep some personal property, but this essentially creates a debt repayment plan, usually over a five-year period.

Here are the individual steps you need to follow when filing for bankruptcy:

  • Gather the documents you’ll need, including tax returns, pay stubs, bank, brokerage, and retirement account statements, appraisals of real estate and other assets you own, vehicle registrations, and everything other document relating to debts you owe or assets you own.
  • All bankruptcy filers must complete a credit counseling course before and after filing. Fees are usually less than $50 and may be waived if you are unable to afford them.
  • Complete and print the appropriate bankruptcy forms, get your filing fee ($338 for a Chapter 7 filing in federal court), file the forms in court, and send the necessary paperwork to your appointed bankruptcy trustee.
  • Attend the meeting — probably online — of your creditors with your trustee. It takes place approximately one month after the submission of your file.

All of these steps are essential, and having a lawyer can help you avoid making mistakes.

What you should not do

The biggest mistake people make in bankruptcy filings is trying to game the system. All of your assets can be seized in a bankruptcy and failure to disclose them can result in criminal charges

Just ask tennis player Boris Becker, who is currently facing a prison sentence in the UK for concealing assets. Do not transfer assets to family or friends before filing your return. It will be recovered.

Honest debtors get a fresh start, while dishonest ones can potentially go to jail.

David Leibowitz

chief of Lakelaw

Do not maximize your credit resources before filing your file. The court will not look favorably on him. Never use funds from retirement accounts to pay off your debts.

“Truth and transparency are essential to the bankruptcy process,” Leibowitz said. “Honest debtors get a fresh start, while dishonest ones can potentially go to jail.”

What to do after bankruptcy

Filing for bankruptcy may seem like the ultimate failure, but there is life after bankruptcy. Leibowitz advises her clients to take the following steps to get their lives back in order:

  1. Set a budget you can stick to.
  2. Open a savings account and save a month’s worth of income to provide a financial cushion for unexpected expenses.
  3. Get a secure credit card and use it only for expenses you can pay off at the end of the month.
  4. Pay your rent and bills on time.
  5. Regularly check your credit report to make sure that no debts released in the event of bankruptcy remain unpaid on your profile.

If you follow a disciplined plan, you can quickly improve your credit profile and even qualify for a Federal Housing Administration mortgage in as little as three years.

“There’s such a stigma associated with bankruptcy,” Leibowitz said. “But the idea of ​​rehabilitation and forgiveness is embedded in our constitution.

“Bankruptcy can give people a second chance.”

Bloom Energy Co. (NYSE:BE) CMO Sharelynn Faye Moore sells 5,831 shares

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Bloom Energy Co. (NYSE:BE – Get Rating) CMO Sharelynn Faye Moore sold 5,831 shares in a trade that took place on Thursday, August 11. The shares were sold at an average price of $30.00, for a total transaction of $174,930.00. Following the completion of the sale, the marketing director now directly owns 31,396 shares of the company, valued at approximately $941,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.

Bloom Energy Stock Performance

NYSE BE traded at $1.26 during Friday trading hours, hitting $30.46. 3,815,218 shares of the company were traded, against an average volume of 3,460,867. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $37.01. The stock has a market capitalization of $5.43 billion, a price-earnings ratio of -19.04 and a beta of 3.19. The company’s 50-day moving average is $18.93 and its 200-day moving average is $19.24.

Bloom Energy (NYSE:BE – Get Rating) last released its quarterly earnings data on Tuesday, August 9. The company reported ($0.20) EPS for the quarter, meeting analyst consensus estimates of ($0.20). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 28.46%. The company posted revenue of $243.24 million for the quarter, versus analyst estimates of $228.30 million. In the same quarter last year, the company achieved EPS of ($0.34). The company’s revenue increased 6.5% year over year. Analysts predict Bloom Energy Co. will post -0.96 EPS for the current year.

Institutional investors weigh in on Bloom Energy

Major investors have recently changed their stake in the company. Allworth Financial LP acquired a new position in Bloom Energy during Q1 worth approximately $32,000. Resolute Advisors LLC bought a new position in Bloom Energy shares in Q2 for about $28,000. Millburn Ridgefield Corp raised its position in Bloom Energy shares by 209.3% in the first quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company worth $49,000 after acquiring 1,375 additional shares in the last quarter. Catalyst Capital Advisors LLC increased its position in Bloom Energy shares by 209.3% in Q1. Catalyst Capital Advisors LLC now owns 2,032 shares of the company worth $49,000 after acquiring 1,375 additional shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Bloom Energy in Q1 valued at approximately $68,000. Institutional investors and hedge funds hold 65.68% of the company’s shares.

Changes to analyst ratings

Several equity analysts have recently published reports on BE shares. BMO Capital Markets raised its price target on Bloom Energy from $20.00 to $29.00 in a research note on Thursday. Wells Fargo & Company raised its target price on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Northland Securities launched coverage on Bloom Energy in a research report on Friday, July 8. They issued an “outperform” rating and a target price of $28.00 on the stock. Piper Sandler kicked off Bloom Energy coverage in a research report on Wednesday, June 8. They issued a “hold” rating and a target price of $20.00 on the stock. Finally, Raymond James raised its target price on Bloom Energy from $23.00 to $29.00 in a research report on Wednesday. Five equity research analysts gave the stock a hold rating, eight issued a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

About Bloom Energy

(Get a rating)

Bloom Energy Corporation designs, manufactures, sells and installs solid oxide fuel cell systems for on-site power generation in the United States and around the world. The Company offers Bloom Energy Server, a power generation platform that converts fuels, such as natural gas, biogas, hydrogen or a mixture of these fuels, into electricity through an electrochemical process without combustion.

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Tina Smith applauds climate work in Senate Democrats’ landmark bill

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After a series of setbacks over the past year, US Senator Tina Smith’s work to pass major climate legislation culminates with an estimated $740 billion package that also focuses on health care and taxes.

Smith said in an interview that she had no doubt, looking back on her time in Washington, that she would see the legislation as “one of the most important things I’ve had the chance to work on.” .

The bill is a far cry from the roughly $3.5 trillion bill introduced last year. The deciding vote by Senate Democrats rejected that package, even though its price tag was reduced, leaving the party to scramble for a compromise.

As this fall’s midterm elections drew closer, it seemed unlikely that Democrats would be able to use the budget process they envisioned to avoid a filibuster in the Senate and pass major measures on climate, taxes and prescription drugs.

That changed in recent weeks, however, and Senate Democrats were able to overcome unanimous GOP opposition to pass the more limited package that Smith and Democratic U.S. Sen. Amy Klobuchar also support.

The House voted 220 to 207 along party lines on Friday and sent the bill to Democratic President Joe Biden’s office.

“The climate and clean energy provisions are the most important thing we’ve ever done in this country when it comes to clean energy and addressing the climate crisis,” Smith said.

Republicans are furious with the legislation, which also allows the government to negotiate certain drug prices for Medicare beneficiaries.

“The Democrats’ response to the energy crisis they’ve exacerbated is a war on American fossil fuels to fund Green New Deal freebies for their wealthy friends,” GOP Senate Minority Leader Mitch McConnell said. in a press release earlier this month. “And their answer to the runaway inflation they’ve created is a bill that experts say won’t significantly reduce inflation at all.”

The climate components of the legislation amount to approximately $373 billion. Smith’s influence on the bill, according to his office, includes working on direct payment for nonprofits so they can benefit from the $260 billion in clean energy tax credits. provided for in the legislation, as well as $9.7 billion to help rural electric cooperatives and more than $1.7 billion for the Rural Energy for America program.

“The positive benefits of the clean energy elements significantly outweigh the negative impacts of the pro-fossil fuel components of this bill,” Smith said.

Gabriel Chan, an associate professor at the University of Minnesota’s Humphrey School of Public Affairs, who focuses on energy and climate policy, said “looking at some of the modeling of the impacts of this bill, you expects it to significantly reduce carbon emissions.”

“It helps direct federal dollars toward clean energy investment,” Chan said, but later noted “a question mark over whether this will be enough to address some of the inequities in the energy system.” .