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Taiwan contributes to global net zero goals with innovative solutions

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As the world grapples with the question of how to contain global warming and how to facilitate the transition to green energy, Taipei has developed innovative ways and unique solutions to contribute to the country’s clean energy goals.

The private sector as well as government bodies are striving to achieve the country’s zero emissions goals with detailed plans and ambitious programs, setting an example for many countries around the world.

“The long-term vision of Taiwan’s transformation to net-zero emissions by 2050 will spur economic growth, spur private investment, create green jobs, and improve energy independence and social well-being,” the minister said. the Environmental Protection Administration, Tzi-Chin Chang, to a group of reporters in Taipei.

“These will be achieved by building on the competitive transition strategies and governance foundations, which are sustainable, resilient and traffic-safe. This makes the net zero transformation a new driving force for Taiwan’s development. »

Although the country’s gross domestic product (GDP) has increased by 79% since 2005, the intensity of greenhouse gas emissions has decreased by 45%, the rate of carbon dioxide emissions from the combustion of energy has remained stable in the 14 years since 2005.

Taiwanese President Tsai Ing-wen said in April 2021 that Taiwan was charting a course to achieve net-zero emissions by 2050, and in March this year the Executive Yuan, Taiwan’s highest administrative body, announced a published the “Pathway to Net Zero Emissions by 2050”. “

Taiwan has outlined four main strategies to achieve the country’s net zero transition in 2050, energy, industrial, lifestyle and social, to be achieved through R&D on net and negative emissions technologies as well as legislation on climate, namely carbon pricing regulation and green finance.

The country aims to improve exterior design, energy efficiency and appliance energy efficiency standards for buildings. Regarding transport, a change in travel behavior, a drop in demand for transport and electro-mobility are sought. In terms of industry, energy efficiency, fuel switching and innovative technologies are at the heart of the strategy, while the scaling up of renewable energies, the development of new energy technologies, the storage of energy and the modernization of the electricity network are the objectives in terms of electricity.

By 2030, Taiwan has set a target for all city public buses and official cars to be electric, while 30% of car sales will be electric, which will reach 100% by 2040.

The Taiwanese government has pledged to spend NT$900 billion ($30.7 billion) by 2030 to achieve its net zero goals. By 2050, renewable energies should represent more than 60% of the country’s electricity supply.

2022 marks the 35th anniversary of the creation of the EPA, the main body responsible for overseeing the nation’s net zero goals, while local governments are also being asked to create climate committees.

Climate goals

Yet one of the biggest challenges the country faces is its exclusion from most global bodies due to objections from China, which considers it one of its provinces and not a separate country.

Saying that this prevents Taipei from participating in global discussions on climate issues, Chang pointed out, “It is difficult for Taiwan to be informed and to engage quickly in the latest climate actions. This gap will lead to a vacuum in global climate governance.

Chang stressed that net zero can only be achieved by working together and said he hopes the international community will support the country in contributing to the global transition to net zero.

The warming to date has triggered a crescendo of deadly and costly extreme weather, ranging from heat waves and drought to floods and tropical storms made more destructive by rising seas.

To meet the ambitious Paris target, global greenhouse gas emissions must fall by 45% by 2030 and be brought to net zero by mid-century, with any remaining emissions offset by eliminating carbon dioxide from the atmosphere.

To be on track for a net zero world, emissions would need to fall by 7% per year over the next eight years.

To put that into perspective: In 2020, with much of the global economy in lockdown, emissions were down just 6%.

Chang said the progress China has said it has made in terms of climate targets may not be as good as those mentioned by the government, while pollution from China has also affected Taiwan from time to time.

“Due to the geographical proximity between China, which has been the world’s largest carbon polluter for about 15 years, and Taiwan, sometimes air pollution from China, especially in winter, affects the quality of the air. ‘air in Taiwan’.

When asked if Taiwan was dependent on China for climate transition technology, Chang said the country produces its own equipment, including its own solar power system.

“As for the development of renewable energy in Taiwan, from 2015, we started to focus on the development of solar energy and now the solar power generation has reached nine gigawatts this year. Additionally, in terms of offshore wind energy, we have installed 200 wind turbines,” he added.

Chang said Taiwan has the potential to become the center of green energy development in Asia.

“In terms of renewable energy development in Taiwan, the biggest challenge we face is that we don’t have enough space, so there is a limited area for solar energy, that’s why we are developing offshore wind energy.”

He said industries have great will and potential to join international cooperation to jointly reduce carbon emissions.

“By developing new technologies and designs, the semiconductor industry is actively striving to reduce the use of energy and resources in production. It also adopts various intelligent applications of electronic products with the continuous evolution of semiconductor innovation and promotes global energy conservation,” Chang said.

Taiwan produces the vast majority of the world’s most advanced chips and is home to Taiwan Semiconductor Manufacturing Company Ltd. (TSMC), the world’s largest contract chipmaker and supplier to major companies like Apple Inc.

Chips are essential for building everything from iPhones and washing machines to cars and fighter jets.

Delta Electronics is a Taiwanese electronics manufacturing company that aims to provide innovative, clean and energy efficient solutions to contribute to local and global energy efficiency. A company spokesperson said 95% of all company products are aimed at saving energy, while Delta also saves 8-9% of its annual revenue for research and development. to continue its innovation.

Delta, which also has an office in Istanbul, offers some of the most energy-efficient power products in the industry, including switching power supplies with efficiency over 90%, telecom power supply up to 98% and photovoltaic inverters up to 99.2. % Efficiency. From 2010 to 2021, 35.9 kWh of electricity has been saved by global customers using Delta’s energy efficiency products.

Another institution contributing to the country’s development as well as climate goals is the Industrial Technology Research Institute (ITRI), which is committed to stimulating industrial development, creating economic value and improving welfare. be social. As part of Taiwan’s net zero goals for 2050, ITRI launched the 2030 Technology Strategy and Roadmap to respond to market demands and global trends, focusing on smart living, quality health and a sustainable environment.

Bilateral cooperation area

Taiwan’s strategy and programs to achieve net zero by 2050 provide an exemplary roadmap for many countries and could also serve as a space for cooperation and exchange of know-how and ideas with Turkey, which also draws a roadmap for its goals.

Chang said bilateral cooperation with Taiwan is important for the country to contribute to climate change issues.

Minister of Environment, Urban Planning and Climate Change Murat Kurum recently announced that Ankara plans to implement a comprehensive law to combat climate change and parliament is expected to pass the climate law of the country this year.

Turkey unveiled a revised plan at the COP27 climate summit to reduce its carbon emissions.

“We have updated our nationally determined contribution,” Kurum told the UN climate conference, referring to national greenhouse gas reduction plans submitted by nearly 200 countries as part of the climate change conference. of the 2015 Paris Agreement.

“Our emissions will peak no later than 2038,” the minister said. The new Nationally Determined Contributions (NDCs) call on Turkey to reduce its emissions by 41% by 2030 compared to what those emissions would have if they continued to grow at a rate of 8% per year. The new plan had not yet been officially submitted for inclusion in the official UN NDC registry on climate change.

Turkey’s emissions amounted to 530 million tonnes of carbon dioxide in 2020, a 1% share of global emissions. The electricity sector accounted for 24.1% of total emissions, followed by the manufacturing sector at 21.2%. Transport recorded 15.8%, buildings 13.8% and waste 11.1%. The agricultural sector was responsible for 9.3% of emissions and the remaining 4.7% came from the shipping, oil and gas sectors in Turkey.

The country has ratified the Paris climate agreement and is focused on complying with the European Union’s Green Deal as it plans to implement several projects in a range of areas from transport to industry, agriculture and trade from 2023.

U.S. drillers add oil and gas rigs for second straight month – Baker Hughes

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Nov 23 (Reuters) – U.S. energy companies this week added oil and gas rigs for a fourth consecutive week and second month as relatively high oil prices prompted companies to drill more.

The number of oil and gas rigs, an early indicator of future output, rose by two to 784 in the shortened week of Nov. 23, its highest since March 2020, energy services firm Baker Hughes Co (BKR.O) said Wednesday in its closely followed report. , ,

Baker Hughes released the platform’s weekly report two days ahead of schedule due to the Thanksgiving holiday in the United States.

U.S. oil rigs rose four to 627 this week, their highest since March 2020, while gas rigs fell two to 155.

For the month, drillers added 16 rigs, the most since June, boosting the total count for a second consecutive month for the first time.

In November, drillers added 17 oil rigs and cut one gas rig.

With oil prices up around 3% so far this year after climbing 55% in 2021, – and government pressure to produce more – several energy companies have said they plan to increase their spending for a second consecutive year in 2022 after cutting drilling and completion spending in 2019 and 2020.

Even though rig counts have increased for most months over the past two years, weekly increases have been mostly in the low numbers so far in 2022, keeping oil production below levels records seen before the pandemic as many companies focus more on getting money back to investors. and paying down debt rather than increasing production.

The government expects U.S. crude production to grow from 11.3 million barrels per day (bpd) in 2021 to 11.8 million bpd in 2022 and 12.3 million bpd in 2023, matching the record level of 2019. Find out more

Reporting by Scott DiSavino Editing by Marguerita Choy

Our standards: The Thomson Reuters Trust Principles.

Finallyity Global adds 205 MW of solar power capacity in India – pv magazine India

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Finallyity Global, based in the United States, has ordered 135 MW of solar projects in Maharashtra. It also acquired 70 MW of operational assets in Telangana and Karnataka.

In a statement released this week, US-based Finallyity Global said it had added 205MW of solar capacity in India through the interconnection of 135MW of projects in the state of Maharashtra and the acquisition of six operational projects from Rays. Power Infra in the States. of Telangana and Karnataka.

This capacity addition marks a significant milestone for Finally Global, which entered the Indian market last year.

“We will continue to build our market presence by developing a hybrid renewable energy portfolio of approximately 3 GW under our current pipeline and continue to acquire operational assets across all segments,” said Sandip Agarwal, CEO of Infinity Global for India. “We are also growing in other areas of sustainability such as water management, sustainable mobility, hydrogen production and the circular economy.”

Finallyity Global has built and interconnected 135MW across ten different solar power plants in Maharashtra during the first half of 2022. It built these projects under Mukhyamantri Saur Krishi Vahini Yojana, which seeks to provide daytime power to local farmers while contributing to greater sustainable agricultural activity. The electricity produced will be sold to Maharashtra State Power Generation Co. (Mahagenco) under a 25-year power purchase agreement (PPA).

“The 250,000 solar panels installed will generate 225 million units of electricity per year, which is equivalent to lighting 189,000 Indian homes and reducing some 200,000 tons of CO2 emissions, equivalent to the amount absorbed by 9.5 million mature trees,” the company said.

The 70 MW solar energy portfolio acquired from Rays Power Infra includes six operational plants in the states of Telangana and Karnataka.

The portfolio acquired in Karnataka includes 47 MW spread over three sites, while the plants acquired in Telangana include three other sites totaling 23 MW. All projects have PPAs signed with public electricity distribution companies.

The six sites have a total of 226,000 solar panels installed, generating 108 million units of electricity enough to power 98,352 homes and save 103,000 tonnes of CO2 emissions, equivalent to planting 4.9 million trees. mature trees.

Finally Global Inc., established in 2019, focuses on the development, financing, construction, operation and ownership of renewable energy assets. It has had a presence in India since early 2021, through the integration of Tepsol, a Hyderabad-based solar energy joint venture previously owned by EverStream Energy Capital Management LLC and Think Energy. The company operates renewable energy projects in the states of Telangana, Karnataka, Maharashtra and Uttar Pradesh. Its current portfolio includes a pipeline of over 2 GW of commercial and industrial (C&I) and utility projects at various stages of development.

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Zendure launches home energy system based on semi-solid technology on its official website

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PALO ALTO, Calif., November 21, 2022 /PRNewswire/ — Today, Zendura true energy independence provider and one of the fastest growing energy technology startups, launches its revolutionary SuperBase V home energy storage system with integrated solid-state battery on Zendure official site.

After reaching the five million dollars milestone of Starter with funding from US$5,394,102the project ended with dignity, 1,183 people worldwide will receive the special prize as part of the Kickstarter campaign.

Zendure has already started manufacturing the SuperBase V6400 and its B6400 satellite battery, and they are being released sequentially. According to Zendure’s mass manufacturing schedule, the US and European versions will be created first, followed by the UK and Australia releases in December.

The SuperBase V Series is the premier powerhouse in the Zendure product line. The series will be available for pre-order on From November 20 to November 30 on the official website of $2,999(LifePO4 version) and $4,299(semi-solid version). Plus, the first 50 buyers are eligible for free air shipping.

On November 10, Zendure took SuperBase V to the Natural Disaster Expo, where it generated considerable excitement among the live audience. Extreme weather conditions and geopolitical factors threaten access to reliable energy and can also destabilize energy costs. Climate change and political conflict find common factors in the acquisition and use of limited resources. More people than ever are looking for pathways to energy independence for safety, security and cost savings. Zendure’s solutions use the latest battery technology to deliver clean power without the off-gassing or adverse environmental consequences associated with fossil fuels, providing stability for the user now, as well as the planet for the long term. Here are some of the unique features:

  • Semi-solid technology: Can generate 42% more energy density and has a capacity of 6.4 kWh expandable to 64 kWh with satellite batteries, the first batteries of this type in the world.
  • Dual voltage 120V and 240V: A backup power supply for a whole house, a SuperBase V module can power all devices at two different voltages.
  • 3800W-7600W AC Output: A single SuperBase V can deliver up to 3800W of power, while two units can deliver up to 7600W when daisy-chained with a home panel.
  • Maximum recharge of 6.6 kWh in one hour: With a satellite expansion module and solar power combined with an AC outlet, the SuperBase V system can be charged up to 6.6 kWh in one hour.
  • Uninterrupted power without downtime: SuperBase V is able to enable seamless UPS functionality with 0ms downtime, it can switch to home backup power immediately after power failure without interruption.
  • Self-driving wheels: SuperBase V is equipped with self-driving wheels, simply guide the SuperBase V with a pull handle, easily relieving stress to get you where you want to go.
  • Welcome panel with 2 EV outlets: With up to 12,000W of power delivery, the Home Panel can charge two vehicles at the same time and provide AC power to up to ten circuits in the home.

For more information, visit Zendure.com

About Zendure

Zendure is one of the fastest growing Clean Energy Tech start-ups based in the tech hubs of Silicon Valley in Californiaand the Greater Bay Area in Chinaas good as Japan. Zendure’s goal is to make energy accessible anywhere, anytime, and democratize the latest battery technology to power on-grid and off-grid lifestyles in a clean and affordable way. To find out more visit Zendure.com and follow Zendure on Facebook, instagram, Twitterand LinkedIn.

SOURCE Zendure UNITED STATES Inc.

France is spending 8.4 billion euros to help companies pay their energy bills

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PARIS, Nov 19 (Reuters) – France is to spend 8.4 billion euros ($8.67 billion) to help businesses pay their energy bills, to cushion the impact of rising electricity and gas prices and to help them compete with German companies, announced its finance minister. said Saturday.

France will reduce a special electricity tax to the minimum allowed by EU rules and allow companies to operate a special mechanism to receive cheap nuclear-generated electricity. Small businesses will also benefit from the energy price caps already in place for households.

“(French) companies will be protected as well as German companies,” Finance Minister Bruno Le Maire told France Inter radio.

“We will also ensure that EU competition rules apply to all companies, whether Italian, Spanish, French or German,” he said.

Earlier this year, Germany earmarked 200 billion euros to protect businesses and households from high energy prices, drawing criticism from other EU countries fearing a distortion of the level playing field of the EU.

The €8.4 billion package France unveiled on Saturday is the cost for 2022 and 2023 together, the finance ministry said in a statement. France has already released 45 billion euros to help households.

($1 = 0.9686 euros)

Reporting by Michel Rose Editing by Ros Russell

Our standards: The Thomson Reuters Trust Principles.

Ukraine says Russian missile attacks have crippled almost half of its energy system

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As the war between Russia and Ukraine continues to escalate, with Russian attackers relentless in their quest to invade Ukrainian territory, Prime Minister Denys Shmyhal says a recent Russian strike caused massive damage to the Ukrainian energy system, leaving millions of compatriots without electricity.

Notably, this damage comes at a time when winter is fast approaching with temperatures dropping below freezing. Meanwhile, one of Kyiv’s officials has warned that the city’s residents could see a “complete shutdown” of its power grid.

Nearly half of Ukraine’s energy system is disabled, says Ukrainian Prime Minister Shmyhal

On Friday, Shmyhal said that “unfortunately, Russia continues to carry out missile strikes on Ukraine’s civilian and critical infrastructure. Almost half of our energy system is disabled,” he added.

Earlier, Ukrainian President Zelenskyy said that about 10 million Ukrainians have been left without electricity and a total of 17 regions, including the capital, are in a difficult energy supply situation. “The difficult energy supply situation persists in a total of 17 regions and in the capital,” Zelenskyy said in his Friday night speech. There were “significantly fewer emergency shutdowns” during the day as power industry workers tried to restore power, he added.

Meanwhile, Kyiv’s deputy head of administration, Mykola Povoroznyk, claimed the city is “preparing for different scenarios, including a complete shutdown”. However, he did not talk about the evacuation of people from the city. On Thursday, Russian missiles hit Ukraine’s energy facilities and civilian buildings, a second heavy attack in the past two days. Notably, reports suggest that Russia used this tactic after suffering defeat on the battlefield. The Kremlin said the attacks are being carried out because Kyiv is showing “reluctance” to hold peace talks.

Image: AP

US energy regulator gives green light to North West gas pipeline expansion

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Alanna Madden

(CN) – A Canadian energy company could see its plans to increase gas pipeline capacity in the Northwest come to fruition after the Federal Energy Regulatory Commission concluded on Friday that the project would have little negative impact on the environment – despite objections from states and environmentalists.

The regulator’s final environmental impact statement for TC Energy’s ‘Project GTN Express’, a plan to modify compressor stations along the Gas Transmission Northwest pipeline through Oregon, Washington and Idaho, revealed that the project would cause “limited negative impacts on the environment”. The agency reached the same conclusions in an earlier draft last June, after TC Energy applied to expand its pipeline in October 2021.

The project specifically proposes to modify three existing compressor stations while installing new gas cooling bays, turbine compressors and associated piping at Starbuck and Kent compressor stations in Washington State. The plan would increase Canada’s gas throughput by 150 million cubic feet per day.

Opponents of the project say increasing methane in the region would emit 3.47 million metric tons of carbon dioxide equivalent per year for at least the next 30 years.

“This is equivalent to adding 754,000 cars to the road each year through 2052,” Washington State Attorney General Bob Ferguson said in a statement last August when he joined the attorneys general of California and Oregon in a motion to protest and intervene against the TC project. to hamper states’ efforts to reduce greenhouse gases.

“There is insufficient evidence that the project serves a public necessity or the public interest,” Ferguson wrote in the motion. “Instead, the evidence indicates that existing customers will subsidize the expansion, and the project will primarily serve the interests of Canadian gas producers in gaining market share, not the needs of US consumers.”

Additionally, conservation groups such as Columbia Riverkeeper filed a petition with the commission last August opposing the project, but to no effect given Friday’s decision – which acknowledged the project’s effects on climate change. climate, if only in passing.

“With the exception of climate change impacts which are not characterized in this EIS as significant or insignificant, staff conclude that the environmental impacts of the Project would not be significant,” the panel said in its report.

For some, the final assessment is a disappointment.

“From wildfires to droughts, Columbia River communities are increasingly experiencing the impacts of climate change. That’s why West Coast states are united against GTN’s expansion plans,” said Lauren Goldberg, executive director of Columbia Riverkeeper. “FERC’s approach will make the climate crisis worse, minimizing the impacts of a proposal that will pollute our communities, affect health and safety and create millions of tons of climate pollution every year.”

Penny Stocks Energy Basics, 3 Things to Know

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3 Things to Know About Investing in Energy Penny Stocks in 2022

Energy penny stocks are an attractive investment for many due to the potential for high returns. However, understanding how to trade these stocks requires a certain level of expertise and knowledge about the energy sector. Understand the basics of energy penny stocks involves having an overview of what energy trading entails penny stocks. This includes how to identify profitable opportunities and how to assess risk factors. Also, understand the strategies for investing in those stocks, such as using technical analysis tools or tracking sentiment indicators.

Finally, consider tips for minimizing the risks associated with investing in energy stocks and advice on when it might be a good idea to avoid making trades altogether. With this information in hand, investors can be better equipped to make informed decisions when trading energy penny stocks. Now, there are several different industries within the energy sector. This includes oil and gas, renewable energy, electric utilities and energy services.

Investing in any of these industries can be risky as prices are influenced by a range of factors such as supply and demand, geopolitical events, technological advancements, natural disasters, etc. Therefore, it is important to do your research before investing in a energy penny stock. Consider understanding the industry you want to invest in and its environmental impact; research the company’s history; given current market conditions; and research potential competitors.

Also, always make sure to diversify your portfolio when investing in energy penny stocks – never invest all your money in one particular stock. With that in mind, let’s look at some more in-depth tips for investing in energy penny stocks.

3 Penny Energy Stock Trading Tips

  1. Understand the different sectors
  2. Learn to trade Penny Stocks
  3. Consider your risk tolerance

Understand the different sectors

Understanding the different sectors of the energy industry can help you make money with energy penny stocks. You will be able to identify which industry is in demand and which companies in that industry are worth investing in. Knowing the underlying fundamentals of each sector will give you a better understanding of which investments could potentially bring the best returns.

For example, if oil prices are high, investing in upstream oil and gas companies may be financially more attractive than investing in downstream refining or fuel retailing businesses. Additionally, understanding how world events can impact these different sectors can give you an edge when making investment decisions. By keeping an eye on trends such as global population growth, technological advancements, and political instability, it can help inform your decision-making process and increase your chances of making a profitable investment. Knowing the different sectors of the energy industry and their interdependence can open up many opportunities for investors looking to make money with penny stocks.

Additionally, understanding the risks associated with each sector can help you manage your portfolio more effectively to maximize returns while minimizing potential losses. Investing in energy penny stocks requires research and knowledge, but by using this information on the various industry sectors, you can increase your chances of making successful investments. With the right strategy and research, you could find yourself in a position where you are able to consistently make money from energy penny stocks.

Learn to trade Penny Stocks

Energy penny stocks are an exciting and potentially lucrative investment opportunity for those who know how to trade them. Knowing the basics of trading will give investors an edge when it comes to investing in energy stocks. This can include understanding the different types of trades available, the risks associated with each type, and any special requirements that may be needed to participate in certain trades.

Additionally, knowledge of market trends, news events, and technical analysis can help investors make informed decisions about when to buy or sell their energy penny stocks. Having a good understanding of the current economic climate as well as the underlying fundamentals of the energy industry can also help traders maximize their returns on energy penny stocks. By being knowledgeable about these types of investments, investors can potentially see better returns over time.

Consider your risk tolerance

Knowing your risk tolerance as an investor can help you make money with energy penny stocks. By understanding the level of risk acceptable to you, you can determine which investments within the sector may be suitable for your portfolio. For example, if you are willing to take moderate risks, investing in higher volatility penny stocks may be a good choice. On the other hand, if lower-risk investments are better for your financial goals and comfort level, more stable stocks may be a better option.

penny stocks sectors

Knowing where to draw that line between different levels of acceptable risk could prove invaluable when it comes to building your portfolio and making decisions about which stocks to buy and sell. Additionally, being aware of the potential risks associated with a given stock can help you develop a plan to mitigate those risks, allowing you to maximize your returns on investment while minimizing potential losses. With careful analysis and understanding of the market, investors can make smart decisions that could lead to substantial profits with energy penny stocks.

3 Energy Penny Stocks to Watch

  1. Nordic American Tanker Ltd. (NYSE: NAT)
  2. Teekay Corp. (NYSE: TK)
  3. Ultraby Participacos (NYSE: PMU)

What Penny Stocks are you looking at right now?

Energy penny stocks can be a risk worth taking for those looking to invest in something new and different. While there is always potential for big profits, it is also important to consider the risks involved. Investing in energy penny stocks requires research and due diligence, an understanding of business fundamentals, and an eye for market trends.

A savvy investor will also use stop-loss strategies to help protect against losses if things don’t go as planned. Ultimately, if done responsibly, investing in energy penny stocks can be a great way to diversify your portfolio and potentially earn attractive returns. With that in mind, what penny energy stocks are you watching right now?



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

Biden may not be able to lift Venezuela sanctions even if he wants to

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A deep global energy crisiswhich is clearly impacting Western Europe, forces countries around the world to find additional sources of oil and natural gas. Severe fossil fuel supply constraints have emerged due to a lack of drilling caused by nearly a decade of low prices, which have been exacerbated by the COVID-19 pandemic and the invasion of Ukraine by Russia. A Decision of October 2022 by the OPEC Plus cartel to cut production by 2 million barrels a day has amplified the global oil shortage. Soaring energy prices are threatening post-pandemic global economic recovery, heightening the sense of urgency associated with securing additional fossil fuel supplies. It is the pariah state of Venezuela that has the largest oil reserves of 303 billion barrels and was once a major oil exporter seen as a possible solution. Because of this, there is widespread speculation that US President Joe Biden will ease sanctions allowing Caracas to officially export oil and Western energy companies to operate in the OPEC member. Venezuela was once one of the largest oil producers and exporters in the world. Before former President Hugo Chavez took office in 1999, the country pumped 3.5 million barrels a day and exported 3.1 million barrels, or 98% of its production, in 1998. Since then, then that Western energy companies were fleeing Chavez’s brutal nationalization of oil assets and ever-tighter US sanctions that got a little deeper, Venezuela’s oil industry has collapsed. The national oil company PDVSA and its operations are a shadow of what they used to be. According to the latest OPEC report, the pariah state produced an average of just 666,000 barrels of oil per day in September 2022 and 636,000 for 2021. The state of Venezuela’s oil industry is so precarious that refineries operate intermittently, environmentally damaging oil spills from faulty pipes and storage facilities are commonplace and production is less than a quarter of what it once was.

Gaining access to Venezuela’s vast 303 billion barrels of oil reserves, which are the largest in the world, makes perfect sense. Many US Gulf Coast and Midwest refineries are configured to process heavy grades of crude oil. This raw material can be obtained at a considerable discount compared to the current market price for the lighter and softer grades, they account for the majority of US oil production, providing a significant economic incentive to refine the heavier grades. Venezuela, before Chavez came to power, was a key supplier of heavy crude oil feedstock to US refineries shipping 627 million barrels to the United States in 1998 alone. Those volumes fell steadily then. that Washington was gradually imposing tougher sanctions on Venezuela, dropping to 218 million barrels for 2018, the last year before Trump’s tough sanctions blocked all legitimate Venezuelan oil exports.

Source: US EIA.

In 2019, when Venezuela’s annual oil imports totaled a meager 33.7 million barrels, U.S. refineries configured to process heavy grades of oil were forced to turn to Canada and Mexico.

Unlocking Venezuela’s vast oil reserves and rebuilding oil infrastructure to dramatically increase production will require substantial investment, and it is estimated that it will take $250 billion to bring production back to pre-Chavez volumes. The only energy companies capable of providing the substantial investment, technology and skilled labor to rebuild Venezuela’s shattered oil industry are western energy majors. Almost all Western energy companies operating in Venezuela when Chavez was inaugurated in 1999 have gradually left the strife-torn country. Many, like ExxonMobil and ConocoPhillips, left when Chavez seized energy assets as he nationalized industries in the 2000s, while others chose to leave because they found it increasingly difficult to operate from cost-effective way as Washington increased sanctions against the hostile socialist regime. French and Norwegian super-majors TotalEnergies and Equinor were among the last to go, transferring their stakes in Petrocedeno to PDVSA in July 2021. While Equinor did not disclose its loss, TotalEnergies has announced a Capital loss of $1.38 billion. According to Reuters, in October 2022, Caracas gave the other foreign energy companies operating in Venezuela power to give up their joint ventures with PDVSA on the condition that they cancel all debts and unpaid dividends. These are the conditions that TotalEnergies, Equinor and Inpex accepted when leaving Venezuela.

US oil superbig Chevron, which has long operated in Latin America, is the latest major international oil company to have a presence in Venezuela.

The US energy super major has interests in five projects with PDVSA. These are the Petroboscan, Petroindependiente, Petropiar, Petroindeopendiencia and Loran operations.

Source: Chevrons.

Before Trump escalated sanctions in January 2019, Chevron’s share of production from these assets for 2018 was 44,000 barrels per day. The additional harsh sanctions imposed by the White House have prevented Chevron from conducting operations in Venezuela, except for the maintenance of its operations. As a result, the super major, in 2020, took $2.6 billion depreciation on value of these assets.

Apparently in early 2022 Chevron proposed to grant authorization by the White House to receive oil shipments from Venezuela to recover the unpaid debt. That didn’t happen, but the US Treasury expanded the scope of Chevron’s license, allowing the company to negotiate with PDVSA but not make deals. Apparently, Chevron has since asked the US Treasury to relax the conditions of its Venezuelan license to allow the super-major to take control of the four joint ventures it shares with PDVSA. Chevron’s operations in Venezuela have intertwined with Washington’s quest to oust Maduro whose 2018 re-election was not recognized by the White House. For various reasons, recalibrating the sanctions against Venezuela is the only logical outcome.

Related: The truth about the energy crisis that no one wants to acknowledge

The maximum pressure policy implementation by the Trump White House, including recognizing Juan Guaido as Venezuela’s legitimate interim president, has failed. Maduro’s position looks stronger than ever. Venezuela’s economic collapse appears to have bottomed out, with 2021 GDP growing at least 0.5% according to the IMF and expected to grow 6% in 2022. This is the first year that Venezuela has seen economic growth since 2013, when GDP grew by 1.3%. Maduro and his allies effectively sidelined Guaido, who lost his parliamentary seat in 2020, dragging down the European Union no longer recognize the leader of the opposition as the legitimate interim president of Venezuela. The OPEC member’s fractured opposition has said it will no longer support his US-backed caretaker government. These developments make it incredibly difficult for the White House to get the concessions from Maduro it needs to ease the sanctions.

Recent White House diplomatic missions to Caracas, the most notable of which was in March 2022, aroused great indignation reviews in the United States as well as in Latin America. american senators, according to Reuters, last month expressed skepticism about the easing of sanctions. This happened despite Biden claiming the March 2022 mission was a attempted release of illegal detainees American citizens, two of whom were released. Lawmakers in the United States and Latin America viewed the first delegation as a cynical attempt to gain access to Venezuela’s vast oil reserves. Indeed, it came at a time when soaring energy prices in Western Europe and the United States, following Moscow’s invasion of Ukraine, threatened to derail the post-war global economic recovery. pandemic. In reality, Gasoline prices in the United States jumped from an average of $3.41 a gallon in early 2022 to an all-time high of over $5.03 in June 2022, putting considerable pressure on an increasingly embattled president over a crucial election year in Congress.

Apart from these visits which sparked significant opposition to Washington’s easing of sanctions, there were also considerable fallouts for Guaido. The initial diplomatic delegation took place without his knowledge or consent, thus damaging any remaining credibility held by the US-backed interim president, seeing important elements within the Venezuelan opposition walk away more of Guaido and his Washington-backed shadow government. These events all present significant hurdles to the White House if it wants to ease sanctions on Venezuela. It’s before Maduro’s considerable resistance making concessions to the United States is warranted, as the autocratic Venezuelan leader already refuses to allow oil exports to Europe, which could only be used to pay off PDVSA’s outstanding debt.

By Matthew Smith for Oilprice.com

More reading on Oilprice.com:

Danbury-based Fuel Cell Energy brings energy security to Ukraine

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Danbury-based FuelCell Energy is part of a group of 11 companies and organizations from around the world participating in a US State Department pilot program designed to bring energy security to Ukraine, officials said. company.

The company, which manufactures and operates hydrogen fuel cells that generate electricity, does not currently have any of its hydrogen fuel cells deployed in Ukraine or Eastern Europe, said Jason Few, president and CEO of FuelCell Energy. Few said the company’s fuel cells were deployed in multiple European Union countries, though he didn’t specify which ones.

Few people said the company would deploy at least one of its fuel cells in Ukraine. Financial terms for FuelCell Energy’s participation in the program have not been released, he said.

John Kerry, U.S. Presidential Special Envoy for Climate and Ukrainian Energy Minister German Galushchenko, announced the launch of the pilot program. FuelCell Energy is one of four US companies involved in the pilot project, according to State Department officials.

The timing of the rollout is still being determined, but few said “it’s still a few years away.”

“Given what is happening there today, there are unique challenges, which we hope will be resolved by the time we are ready to deploy our platform,” he said. . “We are all excited to work with the State Department.”

Company officials said FuelCell Energy’s involvement in the pilot program would result in an increase in the company’s Connecticut workforce of 400 people, though they declined to specify how many. new workers who could be hired. FuelCell Energy employees in the state are evenly split between the Torrington manufacturing plant and its headquarters and operations center in Danbury.

The company’s involvement in the State Department program is the second time since 2020 that FuelCell Energy has received a government contract.

FuelCell Energy was awarded an $8 million contract in October 2020 from the US Department of Energy. The agency is testing whether nuclear power plants can diversify their business models by diverting excess electricity and heat during times of low demand to huge fuel cell banks, which would use the currents to separate hydrogen atoms from water molecules.

Few said that as part of the pilot program in Ukraine, FuelCell Energy would deploy one of its solid oxide electrolyzers, which produce clean hydrogen using a variety of energy sources, including electricity. and heat from small modular reactors. Hydrogen can be used to generate electricity or to create ammonia, which can be used to improve long-term food production through clean ammonia-produced fertilizers.

State Department officials said Ukraine currently has several sources, including oil, gas, onshore wind, solar, hydroelectricity and bioenergy. But the country mostly depends on small nuclear power plants and coal-fired generators.

Few said the pilot project will highlight how fuel cells can improve energy security and reliability in Ukraine.

“Hydrogen is regenerative and it can be produced locally,” he said. “It’s a great substitute or complement to natural gas.”

Few said that when the company’s solid oxide electrolyser is ready for deployment in Ukraine, construction and engineering work will likely be outsourced. But once the electrolyser is operational, it will be monitored around the clock from FuelCell Energy’s Danbury operations center.

[email protected]édiact.com

Construction of gas pipelines to reduce prices in the Northeast of the United States

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Ignoring the importance of having adequate pipeline infrastructure can lead to higher natural gas and energy prices. Once this region in the United States was the Northeast, where the importance and need for additional pipeline infrastructure to transport natural gas was overlooked and often actively fought.

As winter approaches in the United States, demand for natural gas will increase with increasing heating needs as temperatures drop across the country. But for areas like the Northeast, inadequate pipeline infrastructure is driving up natural gas and electricity prices.

Pipeline infrastructure is a critical part of the natural gas supply chain, delivering production to commercial, industrial and residential users across the country. Pipelines are also known to be one of the safest and most cost effective options for transporting natural gas. However, in recent years, some regions of the United States, such as the Northeast, have overlooked the importance of development. The lack of adequate infrastructure, coupled with harsh winters, is driving up electricity costs and putting consumers at risk in the New England region.

Natural gas has become increasingly important to power the Northeast power grid. Between 2015 and 2020, the Northeast has increased its natural gas electricity production by almost 37%. But as the region becomes increasingly dependent on natural gas, existing pipelines are reaching capacity to meet demand. In short, the lack of adequate infrastructure has created a bottleneck effect. Limited capacity and the inability to build new pipeline infrastructure make it difficult to get natural gas from the Marcellus Shale to major cities like Boston when it’s needed most.

Growing demand for natural gas in the Northeast is being driven by the construction of new, modern infrastructure in places like New York City, shifting from traditional oil-fired heating systems to natural gas. An estimated 8,000 homes in the New York metropolitan area switch to natural gas each year, and in the Northeast region as a whole, approximately 1 million new consumers switch to natural gas each year.

Regional gas utilities have utilized the majority of existing Northeast Pipeline capacity in past winters. This left very little gas transmission capacity to feed the power grids, creating uncertainty in their power system. In addition to creating an unreliable power grid system, the lack of adequate pipelines to transport natural gas to the Northeast creates issues such as price volatility. Compared to the US average, residents of the Northeast pay 29% more for their natural gas and 44% more for their electricity. Additionally, the region has increased its air emissions due to the increased use of other generation sources such as coal to meet demand.

For areas in the Northeast that lack underground fossil fuel resources, natural gas and crude oil must be sourced from elsewhere. Although pipelines are essential for New England to receive natural gas, the region’s existing pipeline system does not meet demand and has limited access to the rest of the United States pipeline system.

In January 2022, following the spike in natural gas prices in New England, the EIA noted: “Historically, LNG imports have been the primary marginal source of supply during peak demand periods. , as New England has no underground natural gas storage and is not a natural resource. gas-producing region.

Last winter – between November 2021 and March 2022 – the New England region imported the equivalent of approximately 17.8 billion cubic feet (Bcf) of LNG, according to data from Platts Analytics. For context, the United States consumed approximately 83 billion cubic feet of natural gas every day in 2021.

The region’s natural gas utilities continue to see gains in terms of new customers and customer conversions from other fuels. As demand for natural gas outstrips the supply provided by the pipeline system, natural gas bans in parts of the Northeast, including the New York metro area and parts of Massachusetts, further compound energy challenges and high costs in the region.

With the unpredictability of weather events in recent years, such as recent record cold temperatures, it is increasingly essential for the region to focus on creating a reliable energy system. The Northeast’s inadequate pipeline infrastructure creates an unnecessary burden on their power grid and exposes the region to energy insecurity. Building adequate pipeline infrastructure and increasing access to the existing pipeline network to meet demand and transport natural gas is the key to protecting the region from price volatility and energy system failures.

To contact the author, email [email protected]

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LONGi showcases latest Hi-MO 6 series modules at COP27 and publishes 2nd Climate Action White Paper – pv magazine International

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Li Wenxue, Vice President of LONGi, virtually attended a side meeting on “Green Finance and Chinese Industries Facing Climate Change” on November 12 and released the world’s 2nd white paper on climate action.

“Climate change is a common challenge, and it is related to the sustainable development of all mankind,” Li Wenxue said in his speech, adding that the current status of global climate change has changed from a future challenge to a future one. immediate crisis. According to the report of the Intergovernmental Panel on Climate Change (IPCC), to achieve the objective of limiting global warming to 1.5°C, global greenhouse gas emissions must peak in 2025 and be almost halved by 2030. Urgent actions are needed. necessary to prevent severe climate impacts caused by global warming by promoting a green and low-carbon transition through aggressive emission reduction measures.

Li Wenxue pointed out that in the face of the crisis caused by climate change, replacing traditional energy with renewable energy is a key step in green and low-carbon transformation.

By 2030, the world’s annual installed new photovoltaic capacity is expected to reach 1,500-2,000 GW to effectively support global energy transformation, laying the foundation for the goal of global net zero emissions. , which will be 10 times the new installed capacity of global photovoltaics in 2021.

The low-carbon green transformation will create a huge green market, which will give new impetus to green development.

As a global energy technology leader, LONGi firmly believes that technological innovation can help humanity achieve carbon neutrality at a rapidly declining cost.

Since 2021, LONGi has broken the world record of photovoltaic cell conversion efficiency for the 11th time in a row, while firmly pursuing the innovative solution “Green Electricity + Green Hydrogen”. LONGi has always been committed to becoming an advocate, practitioner and leader of sustainable development in the field of global clean energy, making positive contributions to global low-carbon green development and realizing a carbon-free future. .

The report published by LONGi is the second white paper on climate action since the company participated in the United Nations Climate Conference last year. In 2021, LONGi implemented a greenhouse gas emissions accounting system covering the entire value chain of the company (Scope I, II and III). It has actively implemented RE100 and used 3,096 million kWh of green energy throughout the year, which is more than 40.19% of the total

energy consumption, which is equivalent to avoiding 1.68 million tons of carbon dioxide emissions, including more than 160,000 tons of emission reductions through energy conservation and reduced consumption .

As LONGi continues to meet the rapidly increasing global demand for photovoltaic capacity, its carbon emission intensity has been further reduced. Greenhouse gas emissions per unit of revenue in 2021 are 20.7% lower than in 2020, laying the foundation for a gradual decoupling of capacity growth and carbon emissions. It is reported that the report received technical support from The Carbon Trust, an independent international consulting agency, and comprehensively demonstrated LONGi’s firm commitment and practical action as an industry-leading company. photovoltaics in the fight against global climate change.

In terms of implementing corporate climate action, LONGi’s management and core employees are ambitious and pragmatic. In 2018, LONGi took the initiative to propose the concept of “Solar for Solar” at the 24th United Nations Climate Change Conference. In 2020, LONGi became the only Chinese company to simultaneously join all four climate initiatives, namely RE100, EP100, EV100 and SBTi. In 2021, LONGi launched the construction of the PV industry’s first “zero carbon factory” and established its hydrogen power equipment manufacturing division. In 2022, LONGi released the “Supply Chain Green Partner Empowerment Plan”, actively meeting the requirements of the national “Double Carbon” goals and working with partners to continue promoting the goal of energy conservation and emission reduction. .

Over the past year, LONGi has steadily promoted climate action, implemented a greenhouse gas emissions accounting system covering the entire value chain of the company (Scope I, II and III) and accelerated the construction of a sustainable development and ESG management system, actively used a high proportion of green energy, continuous improvement of energy efficiency, reduction of carbon emissions intensity in products and the establishment of a solid foundation to achieve a gradual decoupling of capacity growth and carbon emissions.

At present, the world is facing multiple challenges such as geopolitical conflicts, COVID-19 pandemic, and supply chain instability. While some countries have abandoned their climate change policies, China has continued to attach great importance to combating climate change and unswervingly followed the path of green development.

“LONGi also firmly believes that tackling climate change and achieving net zero emissions is a global consensus, and is willing to work with partners from all sides to take joint action to accelerate the transformation of the clean energy and low carbon green development. We will actively contribute to the innovation of green energy technology companies and help China and the world move towards a carbon-free future,” Li Wenxue said in his speech.

The United Nations Global Compact (UNGC), Energy Transformation Commission (ETC), China New Energy Chamber of Commerce (CNECC), World Business Council for Sustainable Development (WBCSD) and other international organizations, as well as certain representatives of LONGi partners and customers attended and supported the release of LONGi’s 2022 White Paper on Climate Action.

As a global leader in solar technology, LONGi, together with the Vanke Foundation and China Corporate Climate Action (CCCA), launched a company-themed exhibition hall in the green zone of the COP27 conference and presented its latest generation of Hi-MO 6 series modules.

Essential Energy Services Announces Changes to Its Board of Directors

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Essential Energy Services Ltd.

CALGARY, Alta., Nov. 15, 2022 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) is pleased to announce the appointment of Ms. Sophia Langlois to the Board of Directors of the Management Company effective immediately.

Ms. Langlois was a partner at KPMG LLP from 2006 to 2020. She currently sits on the board of directors of Loop Energy Inc. and Alaris Equity Partners Income Trust and has served on several not-for-profit boards. Ms. Langlois holds the Chartered Professional Accountant designation (CPA, CA) and the ICD.D designation from the Institute of Corporate Directors.

“We are very pleased to have Sophia join Essential’s Board of Directors,” said Jim Banister, Chairman of Essential’s Board of Directors. “Sophia brings deep financial knowledge and extensive experience. We look forward to the contribution his perspective and expertise will bring to Essential.

Ms. Langlois will also serve as Chair of the Audit Committee and member of the Compensation and Governance Committee.

Concurrent with the arrival of Ms. Langlois to the Board, Mr. Nick Kirton will resign from the Board effective December 14, 2022.

“We would like to thank Nick for his long-term dedication to Essential as a member of the Board of Directors and Chair of the Audit Committee,” said Jim Banister. “Nick’s extraordinary contributions, professional diligence and oversight have been appreciated and we wish him well.”

ABOUT THE ESSENTIALS

Essential provides petroleum services to oil and natural gas producers, primarily in Western Canada. Essential provides well site completion, production and restoration services to a diverse clientele. Services are offered with coiled tubing, fluid and nitrogen pumping, and the sale and rental of downhole tools and equipment. Essential offers one of the largest fleets of coil tubing in Canada. Further information can be found at www.essentialenergy.ca.

The TSX has neither approved nor disapproved of the contents of this press release.

PDFs available: http://ml.globenewswire.com/Resource/Download/4892f71a-c00a-4f57-8010-b440dce7f870

CONTACT: For further information, please contact:         Garnet K. Amundson                 President and CEO Phone: (403) 513-7272 [email protected]

Assets of OQ Group of Oman surpass $31.6 billion

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The total asset value of OQ, a global energy group integrated in Oman, exceeded $31.6 billion, making it one of the largest energy companies in the Sultanate.

OQ operations and activities span the entire value chain; from exploration and production, operations of refineries and the petrochemical sector, to value addition of oil and gas products, as well as trade and marketing, the Omani News Agency (ONA) reported. .

The production capacity of the Mina Al Fahl refinery has increased from 50,000 barrels per day in 1982 to 106,000 barrels per day in 2022.

OQ Group has supported and promoted the government’s economic diversification plans by supplying production inputs to many industries related to oil, gas and petrochemical derivatives, as well as producing fuel derivatives in the Sultanate of Oman through through its refineries.

In addition, the group has attracted foreign investment and entered into partnerships with international companies in Oman and abroad. OQ’s exports to various countries around the world have raised the brand of Omani industries and enhanced the national engineering capabilities.

Additionally, OQ has achieved significant success in expanding into global markets. The group is present in 17 countries on five continents and sells its products in more than 80 countries.

The Group provides exploration and production services as part of its investments. Total oil production from its operating assets and investment partnerships reached 219,000 barrels of oil equivalent (boe) per day in the first half of 2022. This represents 12.6% of production total oil from Oman.

Block 60 is considered one of the most important concession areas held by the group, which includes the “Bisat” field where OQ managed to increase production from 14,000 to 57,000 barrels of oil equivalent. The group has partnerships with many international companies for the management and operation of numerous concession areas, both locally and internationally.

OQ has many development projects which mark a milestone in the upstream industries inside the Sultanate of Oman. This strengthens the group’s contribution to the development of the industrial sector and the promotion of petrochemical industries.

The Liwa Plastics Industries complex is one of the biggest investments in the Sultanate of Oman. The group also owns OQ Liquefied Petroleum Gas (LPG) Plant, OQ Ammonia Plant, Methanol Plant in Dhofar Governorate, Omani Tank Terminal Company (OTTCO) in Duqm Wilayat , the aromatics plant and the polypropylene plant in Sohar, in addition to the investment partnership at Duqm Refinery “OQ 8”.

In the area of ​​clean energy, OQ AE is making progress in developing opportunities to support the decarbonization of OQ’s upstream and downstream assets by swapping some of their power from embodied energy to renewables.

In low-carbon molecules, OQ has made great strides by signing joint development agreements and memorandums of understanding to develop four green hydrogen mega projects for the production of green ammonia with partners. leading international. These megaprojects include the Hyport Duqm project, the Green Energy Oman (GEO) project, the Hydrogen Oman (H2Oman) project, and the Salalah 2 project.

In addition, OQ’s social investment projects have reached 25 in several governorates in the fields of education, health and environment.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Vermilion Energy suspends share buybacks amid EU windfall tax

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Retroactive tax could cost Calgary company between $650 million and $750 million over two years

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Vermilion Energy Inc. has announced that it will suspend its share buyback program as the international oil and gas producer faces the impact of a new one-off tax targeting the hydrocarbon sector by the European Union.

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The retroactive tax could cost the Calgary-based company between $650 million and $750 million over two years, depending on the strip’s current price, chief executive Dion Hatcher said Thursday in a call with investors.

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“It was an interesting time with politics in Europe, during this energy crisis,” Hatcher said. “I think it is important to note that the current situation is not only the result of the war. Really, (these are) the policies that ultimately led to lower supply and higher demand that created a pretty tight market.

“We have risked significant capital to deliver secure energy in Europe and over this period we have worked hard on operations to ensure we are best in class.”

In a bid to stem the spike in energy prices following the Russian invasion of Ukraine, EU governments agreed last month to a temporary levy on the profits of oil and gas companies and a cap on the profits of certain power generation companies. Under the new regulation, EU member states are required to levy a minimum tax of 33% on the 2022 and 2023 excess profits of qualifying companies.

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Vermilion said more details on the tax’s potential impact will emerge once member states implement their respective levies by the end of the year. In the meantime, the company has announced that it will suspend its share buyback program during the fourth quarter while it assesses the impact of the new tax.

The decision to halt buybacks was not well received by investors and the company’s share price had fallen about 10% by midday Thursday.

Vermilion, which has significant operations in countries such as France, the Netherlands, Germany and Ireland, as well as Western Canada, has also benefited significantly from its exposure to soaring gas prices. natural in Europe.

The company posted a profit of $271 million for the three-month period ending September 30, as gas prices in Europe nearly doubled from the previous quarter, helping Vermilion record flows of record quarterly funds from operations of $508 million.

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The company said that while European gas represents only 24% of its total production, it will represent 45% of Vermilion’s cash flow from operations in 2022.

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“The tragic events in Ukraine are undoubtedly contributing to higher prices, however, the underlying fundamental drivers of high gas prices in Europe were in place before the invasion,” Hatcher said, adding that Europe consumes about 45 to 50 (billion cubic feet). per day of natural gas, of which around 40% will be supplied by Russia in 2021 – volumes that the EU is determinedly striving to replace.

“I think the structural drivers will support gas prices in Europe for many years to come.”

The company also said it will delay releasing its 2023 budget as it continues to assess the impact of the one-off tax.

• Email: [email protected] | Twitter:

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Degrowth: a dangerous idea or the answer to the world’s biggest problems?

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London
CNN Business

Conventional economic logic revolves around a basic assumption: large economies are better, and finding ways to sustain or stimulate growth is paramount to improving society.

But what if growth does little at best to solve the world’s problems, and at worst promotes the destruction of the planet and jeopardizes its future?

This is the radical message of the “degrowth” movement, which has spent decades on the fringes of politics with its warning that unlimited growth must end. Now, after the pandemic has given people in some parts of the world a chance to rethink what makes them happy, and as the scale of change needed to tackle the climate crisis becomes clearer, his insights are gaining popularity, even as anxiety grows. what could be a painful global recession.

For economists and politicians of all persuasions, growth has long served as a North Star. It is a way to create jobs and raise taxes for public services, to increase prosperity in rich countries and to reduce poverty and hunger in poorer ones.

But decrementers argue that an endless desire for more – bigger national economies, greater consumption, higher corporate profits – is short-sighted, misguided and ultimately harmful. Gross domestic product, or GDP, is a poor measure of social well-being, they point out.

Moreover, they see an expanding global economy that has already doubled in size since 2005 – and, growing at 2% per year, would be more than seven times larger in a century – setting the emissions targets needed to save the world out of reach.

“An innocent 2 or 3% a year is a huge amount of growth – cumulative growth, compound growth – over time,” said Giorgos Kallis, a degrowth specialist based at the Universitat Autònoma de Barcelona. “I don’t see it compatible with the physical reality of the planet.”

The solution, according to the degrowth movement, is to limit the production of unnecessary goods and try to reduce the demand for items that are not needed.

This unorthodox school of thought is not without criticism. Bill Gates has called decrements unrealistic, pointing out that asking people to consume less for the good of the climate is a losing battle. And even believers recognize that their framework may be a political failure, given how difficult it is to imagine what growth weaning would look like in practice.

“The fact that it’s an uncomfortable concept is both a strength and a weakness,” said Gabriela Cabaña, a degrowth advocate in Chile and a doctoral student at the London School of Economics.

Yet in some corners it is becoming less of a taboo, especially as governments and industry fall behind in their efforts to keep the planet from warming beyond 1.5 degrees Celsius, after which some effects of the climate change will become irreversible.

Climate activists, including degrowth supporters, gathered in Munich on November 12, 2021.

The UN’s Intergovernmental Panel on Climate Change recently cited degrowth in a major report. The European Research Council just awarded about $10 million to Kallis and two peers to explore practical “post-growth” policies. And the European Parliament is planning a conference called “Beyond Growth” next spring. European Commission President Ursula von der Leyen is expected to attend.

Even some on Wall Street are starting to pay more attention to it. Investment bank Jefferies said investors should think about what would happen if degrowth accelerated, noting that “climate-conscious” younger generations had different consumption values.

In the debate over how to avoid climate catastrophe, there is a key point of consensus: if the worst effects of global warming are to be avoided, the world must reduce annual carbon emissions by 45% by 2030. After that, they should drop steep and fast.

Most roadmaps laying out a plan to get there involve a radical reconfiguration of economies around clean energy and other emission reduction solutions, while promoting new technologies and market innovations that make them more affordable. . This would allow the global economy to continue to grow, but in a “green” way.

Yet proponents of degrowth doubt the world can cut emissions in time — and protect delicate, interconnected ecological systems — while pursuing endless economic expansion, which they say will inevitably require the use of more energy. .

A construction site in Belgrade, Serbia, in thick smog on November 1, 2022.

“More growth means more energy use, and more energy use makes it harder to decarbonize the energy system in the short time we have left,” said Jason Hickel, a degrowth expert who makes part of the team that received funding from the European Research Council. “It’s like trying to get off an escalator that’s speeding up against you.”

While energy can turn green, growth also requires natural resources like water, minerals and wood.

It’s a concern that has been echoed by Greta Thunberg, arguably the most famous climate activist. She criticized “fairy tales about non-existent technological solutions” and “eternal economic growth”. And she touched on another point raised by decrementers: is our current system, which has produced endemic inequality, even working for us?

This question resonates in the Global South, where there are fears that the green energy revolution will simply replicate existing patterns of exploitation and over-extraction of resources, but with minerals like nickel or cobalt – key components of batteries – instead of petroleum.

“Love for growth,” said Felipe Milanez, a professor and degrowth advocate based in the Brazilian state of Bahia, is “extremely violent and racist, and it only reproduces local forms of colonialism.”

It can be hard to talk about degrowth, especially as fears grow of a global recession, with all the pain of lost jobs and shattered businesses that entails.

But proponents, who often speak of recessions as symptoms of a failing system, say they are not promoting austerity or telling developing countries keen to raise living standards that they should not reap the benefits of economic development.

Instead, they talk about sharing more goods, reducing food waste, moving away from privatized transport or health care, and making products last longer, so they don’t need to. be purchased at such regular intervals. It’s about “thinking in terms of sufficiency,” Cabaña said.

Cars make their way through New Jersey on April 22, 2022. The United States is the second largest contributor of CO2 emissions.

Embracing degrowth would require radically rethinking the market capitalism that has been embraced by just about every society on the planet over the past few decades.

Still, some proposals might exist under the current system. A universal basic income – in which everyone receives a lump sum payment regardless of employment status, allowing the economy to reduce its dependence on polluting industries – is often mentioned. The same goes for a four-day work week.

“When people have more economic security and have more economic freedoms, they make better decisions,” Cabaña said.

The latest report from the IPCC – the UN’s authority on global warming – noted that “addressing inequality and many forms of status consumption and focusing on well-being supports climate change mitigation efforts. climate change”, a nod to one of the biggest goals of degrowth. Movement was also controlled.

But degrowth also faces significant opposition, even from climate scientists and like-minded activists.

“Degrowth people are living a fantasy where they assume that if you bake a smaller cake, then for some reason the poorest people will get a bigger slice of it,” said Per Espen Stoknes, director of the Center for Degrowth. green growth at BI. Norwegian Business School. “That has never happened in history.”

Steam and smoke rise from the Belchatow coal-fired power plant in Rogowiec, Poland.  The station emits approximately 30 million metric tons of carbon dioxide per year.

Proponents of green growth are convinced that their strategy can work. They cite promising examples of decoupling GDP gains from emissions, from the UK to Costa Rica, and rapidly increasing the affordability of renewables.

Gates, the co-founder of Microsoft who has prioritized investing in climate innovations, admits that overhauling global energy systems is a Herculean task. But he thinks that improving the accessibility of the right technologies can still achieve this.

Descenders know their reviews are controversial, even though in some ways that’s the intention. They believe a more drastic and revolutionary approach is needed given the UN’s estimate that global warming is expected to reach between 2.1 and 2.9 degrees Celsius, based on the world’s current climate pledges.

“Less time [that] is gone now, the more radical change is needed,” said Kohei Saito, a professor at the University of Tokyo.

Could a growing cohort agree? In 2020, his book on degrowth from a Marxist perspective became a surprise hit in Japan, where concerns about the consequences of stagnant growth have shaped the country’s politics for decades. “Capital in the Anthropocene” has sold nearly 500,000 copies.

Energy conservation takes conscious effort all year round

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Governor Mangubhai Patel said it was necessary to stay alert for 365 days to save energy. Concern for energy conservation must also be reflected in driving. He said that the drops of water make the mighty ocean. Determination, behavior and small precautions to save energy at the individual level will make the nation energy self-sufficient.

Governor Patel was addressing the state level painting competition prize distribution program as part of the Ministry of Central Energy’s 2022 National Energy Conservation Campaign at Ravindra Bhavan today.

Governor Mangubhai Patel said saving energy is actually his production. It is necessary for the user to be aware of the proper use of energy and mindful of energy conservation. Self-reliance in all areas is necessary to build a new India.

For a balance between the demand and the production of energy, it would also be necessary to increase the production, a moderation of the use and an equity in the distribution. The country is changing rapidly under the leadership of Prime Minister Shri Narendra Modi. A commitment has been made to bring greenhouse gas emissions to net zero by 2070. Efforts to raise awareness of energy conservation through the campaign are commendable.

Governor Patel said it is clear from the pictures that the children have a practical understanding and imagination and are aware of environmental issues and solutions. It is satisfying to see the understanding of the subject and its presentation in the images.

The children’s creativity in the photos is a happy sign of the Prime Minister’s resolve to bring greenhouse gas emissions to net zero. The Governor wished the children a bright future. He hoped that the children selected for the national competition would bring glory to the name of Madhya Pradesh in the country and establish themselves as good citizens in the society.

At the start, Governor Mangubhai Patel took a look at the exhibit of the participating children’s paintings. The members of the jury and the organizers of the competition were congratulated. The Governor received a keepsake on behalf of NHDC

Governor Patel awarded first prize to Divyanshi Singh, second prize to Nysa Yadav and third prize to Shreya Chaudhary in the class 5-7 group.

In the Class 8to 10 group, the third prize was awarded to Pari Jain, the second to Nitisha Gokhru and the first prize to Nischala Maheshwari.

NHDC chief executive Vijay Kumar Sinha said saving energy is essential for a bright future. To raise public awareness of energy saving, a painting competition was organized for school children of two categories in the country.

At the state level, the competition was held in two categories for children from class 5 to 7 and from class 8 to class 10. Certificate of participation, Rs 2,000 and LED bulb will be given to 50 children from each category. A certificate of participation, Rs 7,500 and an LED bulb will be provided to 10 children in each of the two categories. Prizes worth Rs 50,000 were awarded in the first prize of each category, Rs 30,000 in the second and Rs 20,000 in the third.

To participate in the program, the children and their parents received the cost of train travel in an air-conditioned classroom. Chief Human Resources Director General Ashok Kumar offered a vote of thanks.

IPO of Inox Green Energy: Should I subscribe? What brokers say

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IPO of Inox Green Energy: Should I subscribe? What the brokers say – Inox Green Energy IPO | The Economic Times November 12, 2022, 10:26 AM ISTInox Green Energy Services’ initial public offering (IPO) opened for subscription on Friday, November 11 and will close on November 15. The company is selling its shares in the range of Rs 61 -65 each to raise Rs 740 crore in the primary markets. The issuance consists of a new sale of shares worth Rs 370 crore and a sale offer of the same amount from its parent company, Inox Wind. Investors can make a minimum bid of 230 shares and then its multiple. Here’s what the brokerages are saying: Agencies Rating: Not Rated The company has posted losses over the past two years, the government’s push on green power will help the company grow, Reliance Securities said. “The strong and diversified portfolio, favorable domestic political support, visibility of future growth, support for long-term O&M contracts and support from parent company Inox Wind are key positives, while the valuation looks costly considering given the current financial situation,” Reliance Securities said.iStockRating: Subscribe“Inox Green Energy has a strong and diverse existing portfolio with an established track record. Plus, favorable national political support and visibility for future growth works for the business. The company with reliable cash flow backed by long-term O&M contracts with high credit quality counterparties is backed and promoted by its parent company, IWL,” Hem Securities said.
iStockRating: SubscribeInox Green’s valuation seems reasonable, given the nature of its business and comparative margin profiles. Inox green has much better EBITDA margins than its global peers, KR Choksey Research said. We are optimistic given the company’s consistent track record, strong parentage, government initiatives to push the renewables sector and also expect financials to improve with debt reduction on the books. “, he added with a note “subscription”.
iStock Ranking: Underwritten With Caution In a higher price range, the company requires an EV/sales multiple of 13.6x (based on FY22 sales), which seems to be higher given the ratios yield, Choice Broking said. The macros of the wind power segment are improving after the change of regime and the restrictions linked to the pandemic. With a goal of massive capacity additions over the next five years, the target market for operations and maintenance services would expand, he added with a “subscribe with caution” note.
Agency Ranking: Long-Term Subscription Inox Green has a 7% market share in O&M portfolios and has an inorganic opportunity for growth through acquisition of inactive players. O&M contracts are long-term contracts with price clauses that provide long-term revenue visibility, Arihant Capital said. The issue is valued at 22x EV/EBITDA based on FY22 EBITDA,” he added with a “sign up for the long haul” note.
Getty ImagesRating: Not Rated’s reliance on the parent company for most O&M contracts could lead to moderate growth in future order intake. Total debt on the books was Rs 900 crore, although management expects no more net debt in the coming period (proceeds from IPO and sale of SPV), we see uncertainty about this and future profitability,” ICICI Direct said. (Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)iStockTo view your saved stories, click the link highlighted in bold

Live Updates: US Consumer Confidence Falls Despite Slowing Inflation

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Shares of European luxury goods makers rose, in part on optimism that demand in China will pick up after Beijing eased some of its Covid-19 quarantine measures for the first time since June.

Cartier owner Richemont, which released a buoyant half-year earnings report on Friday, at one point in the day led the charge on the benchmark Stoxx 600 index. Its Zurich-listed shares, which gained as much as ‘at 12.4% on Friday, were recently up 10.5%, on track for their biggest daily percentage gain since May. Friday’s gains reduced the group’s decline for the year to 13%.

The rally in European luxury stocks comes after “positive” news that Beijing’s “restrictions may start to ease”, said Natasha Brilliant, luxury analyst at Credit Suisse, adding that investors are “hopeful of a story of recovery in China”.

“The key questions for near-term luxury investors are very much centered on when China might reopen and how quickly Chinese demand for luxury will rebound,” she said.

Luxury groups have reported in recent weeks a rebound in consumer spending in areas that have opened up in China.

Shares of other European luxury goods makers, such as LVMH, Kering, Pernod Ricard and Hermès, gained on Friday, along with Milan-based fashion house Moncler and French designer Dior.

Richemont, which owns Chloé and Van Cleef & Arpels and produces high-end jewelry and watches popular with Chinese buyers, benefits from a dynamic Asia-Pacific as it generates more sales there than any other region.

Asia-Pacific contributes 39% of group revenue, putting the company on track to benefit from a return of Chinese to stores.

Store sales in mainland China and Macau, due to the zero Covid policy, led to double-digit revenue declines in the first six months of the year, Richemont said in Friday’s statement. The decline was partially mitigated by sales elsewhere in the region.

China said on Friday it would ease its quarantine restrictions for close contacts and foreign visitors for the first time since its Communist Party congress last month.

Beijing has become an international outlier with its zero Covid policy of lockdowns and mass testing that has stifled consumer spending at home.

Should you buy Coterra Energy Inc. (NYSE:CTRA) for its upcoming dividend?

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Coterra Energy Inc. (NYSE:CTRA) is set to trade ex-dividend in the next three days. The ex-dividend date occurs one day before the record date which is the day shareholders must be on the books of the company to receive a dividend. The ex-dividend date is important because the settlement process involves two full business days. So if you miss this date, you will not be on the company’s books as of the record date. Therefore, Coterra Energy investors who purchase the shares on or after November 15 will not receive the dividend, which will be paid on November 30.

The company’s next dividend is $0.68 per share, following the last 12 months when the company distributed a total of $2.72 per share to shareholders. Last year’s total dividend payouts show that Coterra Energy has a 9.9% yield on the current share price of $27.53. We love to see companies pay out a dividend, but it’s also important to make sure that laying the golden eggs doesn’t kill our golden hen! So we need to consider whether Coterra Energy can afford its dividend and whether the dividend could increase.

Check opportunities and risks within the US oil and gas industry.

Dividends are usually paid out of company profits. If a company pays out more dividends than it earns in profits, then the dividend could be unsustainable. That’s why it’s good to see Coterra Energy paying out a modest 43% of its profits. A useful secondary check may be to assess whether Coterra Energy has generated sufficient free cash flow to pay its dividend. Over the past year, it has paid out 61% of its free cash flow as dividends, within the usual range for most companies.

It is positive to see Coterra Energy’s dividend being covered by both earnings and cash flow, as this is generally a sign that the dividend is sustainable, and a lower payout ratio generally suggests a higher margin. security before the dividend is reduced.

Click here to see the company’s payout ratio, as well as analysts’ estimates of its future dividends.

NYSE: Historic CTRA Dividend November 11, 2022

Have earnings and dividends increased?

Companies with consistently rising earnings per share tend to create the best dividend-paying stocks because they generally find it easier to increase dividends per share. Investors love dividends, so if earnings fall and the dividend is cut, expect a stock to sell heavily at the same time. That’s why it’s heartening to see Coterra Energy’s profits soar, rising 40% annually over the past five years.

Another key way to gauge a company’s dividend outlook is to measure its historical rate of dividend growth. Coterra Energy has recorded dividend growth of 52% per year on average over the past 10 years. It’s exciting to see that earnings and dividends per share have grown rapidly over the past few years.

To sum up

Should investors buy Coterra Energy for the next dividend? From a dividend perspective, we are encouraged to see that earnings per share have increased, with the company paying out less than half of its earnings and just over half of its free cash flow. There’s a lot to like about Coterra Energy, and we’d prioritize a closer look.

Although it is tempting to invest in Coterra Energy just for the dividends, you should always be aware of the risks involved. Every business has risks, and we’ve spotted 1 warning sign for Coterra Energy you should know.

As a general rule, we don’t recommend simply buying the first dividend-paying stock you see. Here is a curated list of attractive stocks that are strong dividend payers.

Valuation is complex, but we help make it simple.

Find out if Coterra Energy is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

East Boston substation gets ‘provisional’ green light to bypass state and local environmental permits

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The state agency responsible for approving energy projects appears set to allow utility Eversource to bypass the 14 remaining environmental permits it needs for a controversial substation in East Boston.

In a draft decision released this week, the state’s power plant siting committee says it recommends approval of a special certificate “to ensure the substation can be built to meet a need.” immediate additional electrical resources to maintain reliable service in the Chelsea/East Boston Area.”

The council will make a final decision on whether to grant the so-called certificate of environmental impact and public interest after a public hearing scheduled for later this month.

Eversource, which first proposed the project more than 8 years ago, applauds the tentative decision.

“Electricity demand in East Boston continues to grow, necessitating the construction of new infrastructure that will support growth for years to come,” company spokesman Christopher McKinnon wrote. in an email.

Electrical substations are an essential part of the energy system. The one proposed for East Boston would take high-voltage electricity from a transmission line running under Chelsea Creek and “step down” it to a lower voltage so it could be sent through overhead wires and into people’s homes.

But while substations are ubiquitous and necessary, the one in East Boston has drawn a lot of opposition and has become one of the most controversial energy projects in the state. Those trying to stop the facility have long argued that it violates state environmental justice policy, questioned whether it is really necessary for electrical reliability, and claimed that building it near the flood-prone banks of Chelsea Creek and in front of a popular playground is a danger to public safety.

Juliane Manitz carries a ‘No Eastie Substation’ sign during a protest against the proposed East Boston electrical substation. The proposed site is the fenced and snow covered area behind it. (Robin Lubbock/WBUR)

John Walkey, director of Waterfront & Climate Justice Initiatives at GreenRoots, the Chelsea-based environmental nonprofit leading the fight against the substation, calls the interim decision “really infuriating, but not necessarily unexpected”.

Walkey says he assumed the board would rule in favor of Eversource, but actually reading the 200-plus-page draft decision feels like a “punch.” In fact, he clarifies, it feels like “a bit like a second punch” – last Friday, the Supreme Judicial Court of Massachusetts upheld the decision of the Energy Facilities Siting Board 2021 to approve the project despite the problems raised by GreenRoots about environmental justice.

As WBUR previously reported, many East Boston and Chelsea residents say they didn’t hear about the project until the approvals process was well underway, and even then they don’t. weren’t given the opportunity to meaningfully participate in the public comment period because of language barrier issues.

“This project continues to roll through this system despite the number of valid, common-sense concerns that have been raised by residents, by advocates, by elected officials,” Valkey said.

He adds that in the years since his group began fighting the project, the concept of environmental justice has evolved from “a niche advocacy movement to something that most people are aware of now and they talk about, especially in the context of climate change and its impacts.”

And yet, according to him, the Energy Facilities Siting Board has not kept pace and changed the way it operates and evaluates projects.

Staci Rubin, an attorney at the Conservation Law Foundation who represented GreenRoots in its fight to shut down the substation, agrees. She writes in an email that the interim decision “unfortunately reinforces and perpetuates the status quo by failing to address community concerns” and that it “illustrates the critical and urgent need for reform of laws and regulations regarding installation of energy installations”.

A map showing the proposed East Boston substation site and potential flood risk (courtesy of Salem State Professor Marcos Luna)
A map showing the proposed East Boston substation site and potential flood risk (courtesy of Salem State Professor Marcos Luna)

Eversource first proposed to build the substation in 2014 as part of a larger power project for the East Boston, Chelsea and Everett area. The siting committee approved Eversource’s proposal in 2017 on the condition that the company consider moving the facility about 200 feet to the west. Eversource filed the project change in 2018, and after a lengthy and contentious process, the board approved it in February 2021.

With this approval in hand, Eversource set out to obtain the remaining 14 environmental permits it still needed. According to the company, some of these permitting agencies “unduly delayed and unreasonably conditioned” their approval, so the company appealed to the state site board last February to obtain the environmental certificate of replacement.

In the draft decision, the site committee says it carefully reviewed the project proposal and concluded that if the substation is not built, East Boston and Chelsea may have problems meeting demand. of peak electricity in the summer as early as 2024. The council also concluded that there is no “viable alternative” to Eversource’s chosen location, and was keen to say that it followed all environmental justice requirements” applicable” when taking this decision.

The siting committee “concludes that the environmental and energy benefits of the substation outweigh the burdens, and that the certificate meets the needs and convenience of the public,” the interim decision reads.

We’re not against substations and electrical reliability, says Walkey. But the question is whether this land in East Boston is the best location for such a facility.

“And from an environmental justice perspective, it all comes down to costs, burdens and benefits,” he says. “Who bears this burden? Who pays the cost? And then who benefits from all this?

If the final certificate is granted later this month, Walkey says GreenRoots will appeal the decision. And in the meantime, he hopes Governor-elect Maura Healey will help find a way to stop the project once she takes office in January.

Engineering light wavefront from a semiconductor source

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In a study published in Horticultural, researchers proposed a method to engineer the light wavefront of a solid-state source using free-form single-surface optics, resulting in uniform dispersion of light throughout the plant. This research contributes to the ongoing paradigm shift towards the use of LEDs as a viable lighting solution in the horticulture industry.

Study: Uniform illumination using a single-surface lens thanks to wavefront engineering. Image Credit: Andrii Yalanskyi/Shutterstock.com

Light-emitting diodes (LEDs) as agricultural lighting

Haitz’s Law, which is the equivalent of Moore’s Law for the semiconductor industry, predicts a twenty-fold increase in power output and a ten-fold decrease in the cost of LEDs every 10 years. Based on these predictions, LEDs are expected to become the standard in the lighting industry, just as they have been in several other areas, including street lighting, indoor lighting, and display technology.

High-power LEDs could provide the greenhouse industry with a more efficient and versatile substitute for artificial high-pressure sodium (HPS) lighting. However, many LEDs are required to achieve equivalent illumination over the canopy, making LED grow light panels economically uncompetitive with HPS sources.

Non-uniform LED lighting in greenhouses leads to insufficient or excessive lighting in different places. These problems could be mitigated by techniques that make more efficient use of the optical energy generated by LEDs.

Increasing light concentration can stimulate plant growth and reproduction, but excessive light causes growth saturation after a certain threshold. This issue leads to a suboptimal optical output power design to provide sufficient illumination through canopies.

Free-form single-surface optics for uniform illumination

Freeform optics use refractive surfaces to redirect light to the target plane. Ray mapping is the simplest and most popular method for designing freeform optics. The ray mapping approach involves calculating a mapping between the target and source light distributions and hence generating the freeform surface.

Even though ray-mapping techniques produce an integrable solution, they can only provide uniform illumination for a small cone of light due to large calculation errors in surface development.

Using a single-surface lens through wavefront engineering to increase the uniformity of light distribution

This study uses a ray-mapping algorithm to develop a free-form lens with a single refracting surface. The free-form lens is designed to evenly disperse the light emitted by the wide-angle LEDs.

Like all ray-mapping techniques, this study also uses the principle of conservation of energy to ensure that the same amount of optical power is transferred from a stationary light cone to the target surface.

The proposed algorithm ensures surface integrability, evaluates the lateral optical change in momentum at the primary plane, and determines a refractive surface that achieves the desired mapping. He can also design lighting systems with different shapes and types of lenses.

The refractive surface is determined using Snell’s law by calculating the necessary lateral momentum shift at the primary plane and determining the optical path differences between waves passing from the incident wavefront to the front. refracted wave.

Important Study Findings

In this study, a luminous uniformity of 95.1% is reported for a 120° light cone when a refracting lens is used, which is far greater than what can be achieved without the lens (11.2% ). However, the uniformity achieved was lower than the theoretical assumption, which could be attributed to Fresnel losses, manufacturing errors and minor misalignments in configuration.

The optical power observed on the primary plane was 7% lower than the simulated result due to the absorption of the lens material. However, the target plane received the same amount of power with and without the refracting surface, proving the energy efficiency of the lens.

The uniform light pattern of a single LED does not always indicate the uniformity of light from a lamp consisting of multiple LEDs. However, since the distance between the LEDs is smaller than between the target plane and the lamp, the uniformity will still be above 90% for most of the target primary plane.

The impact of spatial expansion of an LED array on illumination uniformity on the target plane decreases with increasing distance from the plane.

The proposed method produces uniform illumination on a physically realizable surface by forcing integrability. The elimination of design errors makes this method adaptable to sources with large emission angles.

High light uniformity in greenhouse lighting systems can be achieved with three times fewer LEDs with the proposed design. This design can be manufactured using conventional methods (CNC machining or injection molding), is applicable to light sources of various colors and wide angular ranges, and is not constrained by the distance between the source and the target plane.

Reference

Moaven, A., Pahlevaninezhad, H., Pahlevaninezhad, M. & Pahlevani, M. (2022) Uniform illumination using a single-surface lens through wavefront engineering. Horticultural. https://www.mdpi.com/2311-7524/8/11/1019/htm

Disclaimer: The views expressed here are those of the author expressed privately and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork, the owner and operator of this website. This disclaimer forms part of the terms of use of this website.

Israeli company H2Pro and Moroccan renewable energy developer Gaia Energy sign an agreement at the United Nations Climate Conference for the co-development of a gigawatt-scale green hydrogen project

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The agreement represents a major victory for the future of the MENA region as a hub for green hydrogen, regional cooperation and Israeli-Moroccan relations

SHARM EL-SHEIKH, Egypt, November 9, 2022 /PRNewswire/ — Israeli company H2Pro and Moroccan renewable energy developer Gaia Energy announce today the signing of a strategic agreement at the United Nations Climate Conference (COP27). The two companies unveiled the plans for their new partnership in the presence of Tamar Zandberg, Israel’s Minister of Environmental Protection, Lior Ben Dor, Director of Egypt and the Maghreb at the Israeli Ministry of Foreign Affairs, Rachid TahiriHead of the Climate Change and Green Economy Division for from Morocco Ministry of Energy Transition and Sustainable Development, and Kelthoum Belhaj, Head of Green Economy Unit for from Morocco Ministry of Energy Transition and Sustainable Development. As part of this historic agreement, Gaia will use a range of H2Pro electrolyser technologies from 10 to 20 MW for a demonstration project in Moroccowhile simultaneously exploring the use of H2Pro technology in a Gigawatt-scale system currently being developed by Gaia within the Kingdom.

Environmental Protection Minister Tamar Zandberg stands between H2Pro’s Talmon Marco (left) and Gaia Energy’s Moundir Zniber after signing the MOU. To Marco’s left are Lior Ben Dor of Israel’s MFA and Rotem Arad, Dir. BizDev at H2Pro. (Credit: Bradley D’coutho) (PRNewsfoto/H2Pro)

The announcement comes amid the most high-profile gathering on climate action – the United Nations’ annual Conference of the Parties. COP27 is hosted by Egypt in Sharm el-Sheikh, where the topic of green hydrogen and its critical role in the transition to net zero features prominently in formal negotiations and side events. Green hydrogen has become widely accepted both as a key tool for decarbonizing hard-to-reduce sectors and as a clean molecule for storing and transporting renewable energy.

Morocco, and the MENA region as a whole, are poised to lead the world in the clean energy transition by utilizing our abundance of renewable resources and becoming a green hydrogen hub. By combining the power of Gaia’s renewable energy assets with H2Pro’s efficient and cost-effective green hydrogen production technology, we bring Morocco and our region one step closer to this vision,” said Moundir Zniber, CEO of Gaia Energy. “At the gigawatt level, we are strengthening from Morocco profile of a serious player in the field of green hydrogen,” he added.

The theme of cross-border cooperation around climate action is also a key topic on the agenda of COP27. H2Pro, which was chosen to exhibit at Israel’s first pavilion of a UN climate conference, came COP27 as a champion of regional cooperation and with aspirations for the MENA region.

“Climate change is the greatest challenge facing our generation, and it can only be solved by crossing borders with transparent coordination between the private and public sectors,” said Talmon Marco, CEO of H2Pro. He continued: “We have chosen COP27 as a platform for launching the partnership between H2Pro and Gaia because this moment is not only an achievement of two private companies, but rather an important step in Moroccan-Israeli relations. It demonstrates the triumph of regional cooperation over climate change and is a clear indicator of the key role that innovation plays in diplomacy. We are proud today to work with Gaia Energy to take our region to new heights as it assumes its leadership role in the clean energy transition. »

Minister Tamar Zandberg spoke about the importance for the government to support the private sector in climate action. “No country, no sector, and no one can do it alone. We all come together for this cause, and if we can use it for the good of our children, we will be blessed,” she said.

ABOUT GAIA ENERGY

Based at MoroccoGaia Energy is a leading international developer of large-scale renewable energy in Africa. They are one of the first local companies to develop large-scale renewable energy projects in Africa, adopting the highest international technical standards with prevalence in more than 10 countries and a pipeline of 6 GW of projects under development. Gaia is also developing several large-scale projects to convert renewable energy into green hydrogen and green ammonia, with a pipeline of 8 projects for a total capacity of 40 GW across the continent.

Gaia partners and works with major utilities, national network operators and governments to energize Africa. Gaia has developed a unique process adapted to the needs and demands of emerging countries. Gaia has also established top-notch structuring partnerships for its projects with major energy multinationals across the continent.

ABOUT H2PRO

H2Pro is accelerating the global transition to net zero by enabling affordable green hydrogen this decade. H2Pro’s E-TAC (Electrochemical – Thermally Activated Chemical) technology solves the main challenges of traditional electrolysis by separating the generation of hydrogen and oxygen over time. E-TAC achieves its unrivaled 95% efficiency (compared to 60-70% efficiency of alternative methods) by avoiding the inefficient oxygen evolution electrochemical reaction, replacing it with a thermally activated chemical reaction (TAC ) which consumes neither energy nor heat. Additionally, since hydrogen and oxygen are generated at different times, an expensive membrane is not required. Combined with low-cost, mass-produced electrodes, E-TAC systems benefit from a safe and easily scalable design at a significantly reduced cost.

Based at Caesarea, Israel, H2Pro was founded in 2019 based on years of research conducted at the Technion, Israel Institute of Technology. H2Pro has raised over $100 million. It is backed by leading investors and strategic partners, including Bills Gates climate fund Breakthrough Energy, Temasek Holdings, ArcelorMittal and Yara Growth Ventures. H2Pro’s 0.4MW pilot systems will be launched in 2023 and its commercial production line will begin manufacturing in 2024 via its first factory in Tziporit, Israel.

For more information, please visit h2pro.co and gaiaenergyre.com
For press inquiries, please contact [email protected]

Photo – https://mma.prnewswire.com/media/1942630/Gaia_H2pro.jpg
Photo – https://mma.prnewswire.com/media/1942631/Minister_Tamar.jpg

Moundir Zniber, CEO of Gaia Energy (left) and Talmon Marco, CEO of H2Pro shake hands on an agreement at the Israeli pavilion during the UN climate conference COP27 in Sharm el-Sheikh, Egypt, on 8 November 2022. (Courtesy, H2Pro) (PRNewsfoto/H2Pro)

Moundir Zniber, CEO of Gaia Energy (left) and Talmon Marco, CEO of H2Pro shake hands on an agreement at the Israeli pavilion during the UN climate conference COP27 in Sharm el-Sheikh, Egypt, on 8 November 2022. (Courtesy, H2Pro) (PRNewsfoto/H2Pro)

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SOURCEH2Pro

Biggest Battery Storage Ever – But Not For Long – by Allen Best

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Tiny now, like a pebble, Colorado’s lithium-ion battery storage is about to get very, very big. What other pieces of the emission-free electric puzzle are needed?

The 13,500 solar modules sandwiched by hills of sagebrush, pinyon and juniper near Glenwood Springs are eye-catching. It was the four shipping containers of lithium-ion batteries, capable of five megawatts of storage, that would briefly set a new record for Colorado.

Spring Valley Solar Panels. Photo by Allen Best.

Battery storage is coming to Colorado. This project narrowly eclipses Colorado’s previous record set four years ago. By late next spring, Xcel Energy’s projected 275 megawatts of battery capacity in Pueblo and Adams County will eclipse that record 5 megawatts. More will come after that.

We need storage to complement the intermittency of renewables, but also because it makes economic sense. This transition to an energy system with fewer emissions has so far slowed or stopped the rising cost of electricity prices. If only we could be so lucky with organic food.

Storage capacity in Colorado will increase significantly over the next five years. Imagine driving Interstate 70 through the Great Plains to Denver. In the western suburbs of the city, the highway rises slightly. In this battery storage analogy, we’re still in the suburbs. Immediately ahead of you is the steep climb to Floyd Hill with plenty of uphill beyond.

Mike Kruger, general manager of the Colorado Solar and Storage Association, a trade organization, rejects this analogy. Instead of an uphill struggle, he describes a downhill slide. Lithium-ion storage will expand, he explained, due to rapidly falling costs paralleling those of solar panels a decade earlier.

According to him, we are about to descend from Loveland Pass.

“Imagine the smallest thing you can think of,” Kruger said during a Colorado Renewable Energy Society webinar. “It’s storage in Colorado today. Now think about the most important thing you can think of. This will be energy storage in the future.

All of Colorado’s major utilities provide significant storage, but in somewhat different ways. Platte River Power Authority recently received 31 bids for various carbon-free generation and storage proposals in and near the four communities it serves in northern Colorado. For example, Estes Park, whose frightened residents had to flee in 2020 as two megafires approached, could need both storage and solar panels if power deliveries were disrupted.

The threat of wildfires also figures in solar and storage on the Colorado Mountain College campus near Glenwood Springs. In the event of a power outage outside, students may shelter in place.

Colorado Springs Utilities, the state’s fourth-largest utility, is soliciting bids for batteries with 400 megawatt-hours of storage to become operational in 2024. Utilities spokesman Steve Berry predicts growing importance of storage on battery as the technology becomes more cost effective, efficient and reliable.

Holy Cross Energy’s battery storage program is called Power+. Photo by Allen Best.

“Battery storage will help us better manage the intermittent characteristics of renewables, but it will also provide greater grid resilience, help insulate customers from market volatility, and help us modernize our grid for emerging technologies” , did he declare.

We’re also starting — just beginning — to see batteries in homes and businesses. In a program called Power+, Holy Cross Energy (HCE) helped place batteries in 68 homes and businesses. Supply chain issues still have 122 on the waiting list. He does this in part to learn how to take advantage of those batteries to meet peak demands, such as when snow cannons in Aspen and Vail turn on when temperatures drop on November evenings.

Now come the state and federal programs that Kruger describes as a “truly amazing confluence of incentives” via tax refunds. A new Colorado law will provide an income tax credit equal to 10% of the purchase price of storage systems purchased in 2023 and 2024. The systems are also exempt from sales tax. The federal Inflation Reduction Act provides an even bigger tax incentive of 30%.

Xcel customers will be eligible for additional incentives next year: $500 per kilowatt of storage up to 50% of battery cost and $800 per kilowatt for revenue-eligible customers (up to 75% of battery cost). battery).

Battery supply remains tight, but manufacturing capacity is increasing and prices are expected to fall. Globally, capacity grew by a third last year to 600 gigawatt hours of manufacturing capacity. Wood Mackenzie, a consultant, reports that 3,000 gigawatt hours are planned or under construction.

In “The Big Fix,” Aspen-raised Hal Harvey and co-author Justin Gillis describe how, historically, the scaling up of industrial processes has driven down the prices of everything from Model Ts to computer chips. They call it “the learning curve”. The most recent examples are wind and then solar.

Cheaper lithium-ion batteries alone won’t help HCE and other utilities meet their 100% emissions-free electricity goals by 2030. We also need more energy-efficient storage. long term. Options include molten salt, hydrogen and pumped-storage hydro, the latter technology used in Colorado since the 1950s that remains the largest “battery” in the state. Nuclear and geothermal are other options. Everything will take time to unfold; probably a decade.

For now, it’s time to charge the batteries.

by Allen Best

Allen Best publishes Big Pivots, an e-journal from which this was taken. See BigPivots.com.

Are bad fundamentals the cause?

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With its stock down 18% in the past three months, it’s easy to overlook MGE Energy (NASDAQ: MGEE). To decide if this trend could continue, we decided to look at its weak fundamentals as they shape long-term market trends. We will be paying particular attention today to the ROE of MGE Energy.

Return on equity or ROE is an important factor for a shareholder to consider as it tells them how much of their capital is being reinvested. In simpler terms, it measures a company’s profitability relative to equity.

Check out our latest analysis for MGE Energy

How is ROE calculated?

The return on equity formula is:

Return on equity = Net income (from continuing operations) ÷ Equity

Thus, based on the above formula, MGE Energy’s ROE is:

9.6% = $103 million ÷ $1.1 billion (based on trailing 12 months to September 2022).

The “return” is the annual profit. This therefore means that for every $1 of investment by its shareholder, the company generates a profit of $0.10.

What does ROE have to do with earnings growth?

We have already established that ROE serves as an effective profit-generating indicator for a company’s future earnings. Depending on how much of those earnings the company reinvests or “keeps”, and how efficiently it does so, we are then able to assess a company’s earnings growth potential. Assuming all else is equal, companies that have both a higher return on equity and better earnings retention are generally the ones with a higher growth rate compared to companies that don’t. same characteristics.

A side-by-side comparison of MGE Energy’s earnings growth and ROE of 9.6%

At first glance, MGE Energy’s ROE does not make much noise. However, since the company’s ROE is similar to the industry average ROE of 9.1%, we can spare it some thought. That said, MGE Energy has posted meager net profit growth of 3.5% over the past five years. Remember that the company’s ROE is not particularly good to start with. So this could also be one of the reasons for the company’s weak earnings growth.

We then compared MGE Energy’s net profit growth with the industry and found that the company’s growth figure is lower than the industry average growth rate of 7.5% over the same period. , which is a little disturbing.

past earnings-growth

Earnings growth is an important factor in stock valuation. It is important for an investor to know whether the market has priced in the expected growth (or decline) in the company’s earnings. By doing so, they will get an idea if the stock is headed for clear blue waters or if swampy waters are waiting. If you’re wondering about MGE Energy’s valuation, check out this indicator of its price-earnings ratio, relative to its sector.

Does MGE Energy use its profits efficiently?

MGE Energy has a three-year median payout ratio of 54% (implying that it only retains 46% of its earnings), which means that it pays out most of its earnings to shareholders in the form of dividends and , as a result, the company experienced weak earnings growth.

Additionally, MGE Energy has paid dividends over a period of at least ten years, which means the company’s management is committed to paying dividends even if it means little or no earnings growth. Our latest analyst data shows that the company’s future payout ratio over the next three years is expected to be approximately 47%. As a result, MGE Energy’s ROE is not expected to change much either, which we have inferred from analysts’ estimate of 11% for future ROE.

Summary

All in all, we would find it difficult to think before deciding on any investment action concerning MGE Energy. Due to its low ROE and lack of reinvestment in the business, the company experienced a disappointing earnings growth rate. That said, looking at current analyst estimates, we found that the company’s earnings are expected to accelerate. Are these analyst expectations based on general industry expectations or company fundamentals? Click here to access our analyst forecast page for the company.

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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TotalEnergies and Shell strengthen their energy diversification strategies

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The oil giants, TotalEnergies, Shell and BP, are making strategic investments in the field of energy diversification which are struggling to stay focused in the years to come.

Currently, oil and gas investments by the three largest integrated energy companies are expected to remain strong through 2030.

Shell, BP and TotalEnergies’ share of low-carbon spending is rising as they try to diversify their portfolios, according to research by ratings agency Moody’s.

The company said: “Over the next two decades, BP, Shell and TotalEnergies aim to transform into diversified energy companies that own, manage and market energy. They are preparing the ground for this by gradually repositioning their asset and energy portfolios.

“The strategies they are pursuing are broadly similar for increasing access to renewable energy, investing in existing low-carbon operations and in new energy growth markets, but with some differences in emphasis that play on their existing strengths; for example Shell and TotalEnergies have particularly strong positions in natural gas and LNG.

However, the three companies face a “range of risks” in their decarbonization journey, not least because many green energy markets have yet to be cultivated.

As they expand their renewables businesses, Shell, BP and TotalEnergies will also face more direct competition from utilities for projects.

Additionally, if diversification is accompanied by lower profitability and cash-generating capabilities, the credit implications could also be negative.

But Moody’s says growing business diversification is positive for the oil and gas giants.

Growth in low-carbon operations is also vital to the future of Shell, BP and TotalEnergies, potentially providing greater stability in the face of volatile oil markets.

Moody’s said, “All three companies are using a combination of organic investments in existing operations, investments in new projects as well as acquisitions, in an effort to transition their businesses.”

TotalEnergies will extend its $2 billion buyback program through the third quarter after profits hit a record high, propelled by soaring gasoline prices and soaring demand for natural gas in Europe.

Moody’s said, “All three companies are fine-tuning investments in their existing hydrocarbon operations to improve costs and meet emissions targets. They are also adjusting their product lines and divesting non-core assets. »

Ban on new onshore wind is costing billions, Labor says

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A government ban on new onshore wind farms is costing the country billions of pounds in higher energy charges, the Labor Party has warned.

The party said its plans – set out at its annual conference in Liverpool in September – to deliver a carbon-free power system by 2030 would save £93billion on energy bills by the end of the decade.

Of that, the party said £15.8bn would come from onshore wind – savings that would be lost following the Tories’ effective 2015 ban on new onshore wind generation.

Labor leader Sir Keir Starmer (Peter Byrne/PA)

While onshore wind is considered one of the cheapest and fastest sources of renewable energy, it is often extremely unpopular in communities where wind farms are located, leading David Cameron to suspend government grants.

Labour, however, said maintaining the ban now meant keeping energy bills high, decreasing energy security with higher gas imports and higher greenhouse gas emissions.

Party leader Sir Keir Starmer said: “Tackling the climate crisis and the energy price crisis is the great challenge of our time, but Rishi Sunak just doesn’t get it.

“Twelve years of Tories have left our energy system exposed, bills soaring, while failing to address the climate emergency.

“My Labor Government will tackle the climate crisis by seizing the opportunities it presents. We need this scale of ambition to respond to the magnitude of the task.

A government spokesperson said the amount of grid-connected renewable energy capacity had increased by 500% since 2010 – with 40% of UK electricity now coming from “cleaner and cheaper” renewable sources.

“We continue to support more renewable projects to come online as more affordable clean energy lowers costs for consumers and strengthens our long-term energy security,” the spokesperson said.

Environmentalist Viral Desai’s Satyagraha movement against pollution and climate change receives unprecedented response

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Civil Service Commissioner Sheri Haugen-Hoffart

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BISMARCK, ND (KXNETName) — The Public Service Commission (PSC) is a constitutional agency with varying degrees of regulatory and licensing authority over utility services such as electricity and natural gas rates, pipeline safety, and coal mine reclamation.

The agency serves the public by working with consumers to resolve disputes with utility companies and by monitoring the accuracy of all sales. Three commissioners are elected statewide to staggered six-year terms.

Sheri Haugen-Hoffart was named to the commission by Gov. Doug Burgum to replace Brian Kroshus, who stepped down after being named state tax commissioner in December 2021.

Josh Meny sat Haugen-Hoffart running in a special election to retain his role.

The following is a transcript of their conversation. Josh’s questions and statements are shown in italics.

What gives you the experience you need to continue your job here?

“Well, I had the good fortune of serving for nine years on the board of directors of the Capital Electric cooperative. And from there, my colleagues elected me to central power. Thus, for nine years, I learned generation, transmission, distribution among end users. Along with that, I took many courses in the electrical industry and learned everything from how energy or electricity is generated to the financial aspect of a cooperative,”

It’s impressive. What are some of the biggest challenges you (PSC) are facing right now?

“For some time, it’s been the power grid: affordability and reliability. I am fortunate to work with two Commissioners who have this job within Regional Transport Organizations (RTOs). So North Dakota’s voice is being heard on this. And, another thing we are dealing with is pipeline security. It’s in my wallet. So it’s something very important to me. And another platform for me regarding accountability, affordability, and pipeline safety is cybersecurity. »

How is the Civil Service Commission responding to this ongoing (energy) crisis?

“Well, double. I think the way we react is the first, as stated from an education point of view. The three of us, Commissioner Fedorchik, Mr. Christmann and myself, made sure that the voice of North Dakota was heard. So how we do that is we actively participate in regional and national conferences and committees. Commissioner Christmann participates in (Southwest Power Pool (SPP). Julie (Fedorchak) participates in MISO MISO (Midcontinent Independent System Operator). I sit on the board of MARK. And what we want to do is be there North Dakota is doing a lot of things very well, and we want to get that message out regionally and nationally. The other way to do this is through candidate rates. Nominations, when we we get a rate increase, it’s a balancing act between what the company has to do, providing reliable and affordable services, but also what the consumer can afford, so it’s that balancing act that we do,” Haugen-Hoffart explained.

Winter is really near. This must be a challenge you are heading into right now.

“It’s a challenge for everyone. This inflation affects us all on a daily basis, whether at the gas pump, at the grocery store or at electricity rates. Yes, it’s a big impact. And we’ll see what the midterm reviews bring,” Haugen-Hoffart said.

(Regarding national politics) “We really need to get back to basics and really get this inflation under control to help ordinary people on what they pay at the pump at the grocery store. We have to help everyone,” Haugen-Hoffart said.

Is there anything else I’m missing, Sherri?

I am grateful for the opportunity to serve the citizens of North Dakota. I appreciate. I look forward to coming to work every day. And the industry has been very wonderful to me and accessible. I work with a great team. I cannot thank Commissioner Fedorchak and Commissioner Christmann enough for their knowledge and for being great mentors to me.

Lots of challenges! Sheri Haugen-Hoffert Civil Service Commissioner, thank you very much for your time.

“Thanks.”

How Fossil Fuel Divestment Fails

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The divestment of fossil fuel assets is a big statement. Its impact, however, is murkier. Selling an asset requires someone else to buy it, which, in the case of fossil fuels, can mean pumping new capital into the exact assets companies are trying to squeeze out. But there is another approach: sinking these assets into the ground. By retaining fossil fuel assets, investors can resist efforts to improve their production and extend their lifespan. By planning to terminate these assets, they maintain control and can ultimately have more impact than if they simply washed their hands and emptied these investments from their books.

Committing to divest from fossil fuels seems like a profound pro-climate statement. Selling fossil fuel investments, the logic goes, will choke the capital of fossil fuel companies and make it more difficult for them to operate. Eventually, divestment will lead to the demise of the sector and create a better environment to accelerate renewable energy efforts. By getting money out of fossil fuel investments, companies can demonstrate how they are taking an important step towards a more sustainable world.

Unfortunately, what looks good on paper is often insufficient in practice. There is a major problem with divestment: selling an asset requires someone to buy it. In other words, for you to divest, someone else has to invest. As a result, divestment could end up breathing new life into fossil fuel assets – the exact opposite of what is expected.

So what should a climate-conscious company do?

Divestment box work, but it has to be part of a larger liquidation strategy. Think of this holistic approach as taking fossil fuel investments as “shoving it into the ground,” like you would an old car. Buying a new car adds one to the roads, while using the old one until it is unusable delays the additional effect. To make an impact – not just a statement – ​​companies should plan to end fossil fuel investments at the end of their useful life rather than shifting the blame to someone who might try to make them productive again. Here’s how.

What is divestment?

Fossil fuel divestment is a simple concept: the owner of a fossil fuel asset agrees to sell it to demonstrate adherence to sustainable finance practices and climate risk management. Divestment aims to withdraw capital from companies that threaten the environment, making divestment a tangible act of “voting with your dollars”. The objective is to create constraints on the capital available in the fossil fuel sector, which should hinder the operations of companies in the target sector and limit returns to shareholders, making the category less attractive to investors. Ultimately, divestment aims to make fossil fuel companies so unattractive that they will struggle to survive.

The fossil fuel sector is not the primary target of divestment campaigns. The classic example is the targeting of companies in South Africa in the 1980s. Driven by opposition to apartheid, the divestment gained favorable perception and was meant to generate global awareness and sentiment against the South African government. Closer examination, however, reveals that divestment never really politics influenced. Other divestment campaigns have had even less impact. All the benefits of the tobacco divestment campaign in the 1990s, similar to South Africa and the fossil fuel campaigns, but with much less fanfare, for example, would have been obscured by effects of litigation.

Despite the meager track record of divestment, it’s easy to argue that the campaign against the fossil fuel sector is different, if only because of its scale. Fossil fuel divestment is widely believed to have become the the most successful such campaign in history. More … than $40 trillion in assets pledged to divest, i.e. nearly two-thirds of all global pension fund assets under management ($56 trillion). And it represents 1,550 institutional investors, including AXA Investment Managementthe Ford Foundationthe Norwegian sovereign wealth fundand Harvard University.

Nevertheless, many still question how well divestment works, even for fossil fuels. Specifically, there have been no clear links to the real realignment of capital flows away from fossil fuels, and in fact the fundraising environment appears to have improved, growth from $234 billion in 2000 to around $700 million in 2015. If history is any guide, past divestment efforts suggest limited future success at best, with the availability of capital accentuating this forecast.

Why doesn’t divestment work?

The effectiveness of divestment campaigns depends on perspective. From the perspective of the transferring party, is very effective. Fossil fuel asset sellers vote with their dollars and publicly proclaim their positions – and $40 trillion is a jaw-dropping commitment. Sellers can remove unwanted assets from their portfolios, freeing up capital to allocate to cleaner or otherwise more preferable investment opportunities. On the other hand, capital to the dirtiest parts of the energy sector continues to flow. Divestment by one party implies investment by another, which results in more capital flowing into the fossil fuel sector, in violation of the seller’s objectives.

However, the issue is more important than “money goes out, money comes in”. The real problem is that the new buyer has a primary interest in making this asset work and generate returns. This often means improving the overall productivity of the fossil fuel investment, including promoting increased production through longer useful life. Thus, that the divestment work in such a situation comes down to how the climate benefits of the reallocation of the surrendering party versus the asset improvements made by the buying party.

Let’s take an example. The selling asset manager sells an oil refinery and reallocates its capital to renewable energy assets. The party that buys the refinery invests in improvements. To assess the benefits of divestment, the climate benefits of the renewable energy portfolio are expected to exceed those of the upgraded refinery. Even attempting to calculate this would be a difficult exercise, requiring both parties to commit to the effort, the engagement of a qualified independent party, and even agreement on definitions and methodology (itself a nest of hornets in sustainable finance).

Fossil fuel divestment certainly has some value as a promotional and advocacy tool, and in general, the move by asset managers to divert capital away from fossil fuels is laudable. However, it requires near-total adoption to be truly effective, and without this penetration, divestment could have the unintended negative consequences described above. For greater effect than symbolism or public discourse, alternatives to the sale of fossil assets should be considered.

What’s better than a divestment?

Run-off strategies are poised to succeed where divestment campaigns fail. As illustrated above, divesting is built on an inherently contradictory and counterproductive dynamic, in which the divested asset could become more negatively effective. On the other hand, selling an asset instead of selling it simply means holding onto it until it can be terminated. For example, this could mean holding a fossil fuel company’s debt until maturity and not renewing or extending another loan, or it could mean operating a physical asset (like a refinery) until that it is no longer useful, including resisting investments in improvements that would make the asset more productive and more durable. Instead of extending the useful life of a fossil fuel asset or otherwise improving it, runoff involves setting a time horizon for ending its productivity.

The run-off, of course, lacks the immediacy of the divestment. Selling an asset today – or committing to it – is easy to communicate: I get that off my books now. This makes a great line in a letter to investors. Explaining a fossil fuel runoff strategy requires complexity, nuance, and patience. In the long run, it’s worth it. And, runoff can even be associated with divestment. Divesting an asset to a party that agrees to dispose of it puts the asset on a runoff path. While the run-off hasn’t received as much attention as the divestment, the strategy is already in use. The 2% position in fossil fuel investments that survived Harvard University’s endowment surrender commitments is in fossil fuel investments at flee.

The path of least resistance can also be the path of least outcome. Depleting fossil fuel assets may take longer and seemingly require more capital than divestment, but the strategy has teeth. Divestment, on the other hand, is easy to achieve and scale. Ultimately, divestment can only work if paired with long-term action, and that’s where trickle-down can help. The disposal of fossil fuel assets overcomes the fatal flaw of disposal and tends to remove fossil fuel assets from the market. Yes, the second round lacks immediacy and we lack patience. Instead of viewing runoff – or divestment or whatever – as a discrete solution to climate change, consider it in a broader context of climate risk mitigation tools. Run-off should not exist in a vacuum, and asset managers should consider a wide range of sustainable funding strategies for their portfolios.

Divestment allows for a better press release. Runoff makes the world a better place.

Increasing Access to Energy: The Rise of Pay Solar and Innovative Payment Methods

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As commodity prices soar and world leaders worry about energy shortages and gasoline prices at the pump, millions of people in Africa still do not have access to reliable electricity. Half of the mainlanders cannot turn on a fan when temperatures rise, keep food cool or just turn on the lights. Decentralized off-grid renewable energy solutions are a viable alternative for millions of people, especially in countries with underserved populations and difficult terrain. Off-grid solar companies are using innovative technology systems ranging from pay-as-you-go (PAYG) technology to unconventional and revolutionary mobile applications to provide consumers with access to clean energy. One of the benefits of these financing and payment models has been the increased affordability of off-grid systems.

For example, according to the World Bank, West Africa has one of the lowest electricity access rates in the world; about 42% of the total population and 8% of rural residents have access to electricity. There is a disparity between access to the network and access to electricity. This means that there has been some involvement of decentralized renewable energy systems to bridge this gap. The idea of ​​a renewable decentralized system is now commonly and more consciously embraced in Africa.

The pay-as-you-go method for energy access

Decentralized renewable energy systems include mini-grids, micro-grids, solar home systems and many more. Growing adoption has enabled product manufacturers to develop affordable and sustainable clean energy products that meet the needs of rural consumers. Sun King offers a range of products integrated with pay-as-you-go (PAYG) technology that allows customers to make daily micro-payments for their home solar power system over a period of time, making them affordable. Huge initial sum is not needed for continuous energy, you can pay it flexibly over time.

The confluence of mobile use and access to energy

There have been multiple points of contact between the two industries, telecommunications and pay-solar, which prove that their relationship is immensely symbiotic in nature.

First, pay-as-you-go systems allow customers to recharge their mobile phones, keep them connected and maintain constant communication with the world, with their families, resulting in increased use of mobile services, data and airtime. It also allows users to do business remotely, sometimes even across borders.

Second, prepaid solar power (PAYG) has been made possible by mobile money and mobile connectivity that allows customers to pay in installments, and businesses to remotely control and monitor solar home systems (SHS). The PAYG solar industry has helped drive the adoption and use of mobile money, providing customers with a regular and essential use case, ensuring they have a power source convenient and safe to charge their phones, promoting financial inclusion. In much of the world, people do not live near banks or have bank accounts. Research suggests that the rapid spread of these systems that provide access to mobile money is driving significant economic growth in affected areas. In parts of Africa, mobile money systems are ubiquitous. In Uganda, 43% of people have a mobile money account. 84% of internet users in Kenya and 60% in Nigeria regularly made payments with mobile phones in 2021. The frequency of mobile money transactions is increasing for transactions of goods and services beyond energy.

Sun King works with telecom operators through various partnership models. The type of transactions: collection, collection, merchant payment, person-to-person payment, purchase of airtime, everything has increased for the PAYG group. The increase in person-to-person transactions reinforces that the adoption of PAYG is driving the use of mobile money in all types of transactions, and more value is flowing through the digital ecosystem.

Third, telecoms are increasingly looking beyond their revenue generation models and finding innovative partnerships that can lead to sustainable increases in ARPU and customer retention. For example, increasing mobile internet usage is a priority for mobile operators looking to boost phone business among their customers. Energy providers can and want to leverage their customer relationship to continue offering services after a customer has made payment for their first solar home system.

Expanding into rural consumer segments with value-added services such as pay-as-you-go solar products for daily power and infotainment is a really exciting place where telecoms can deliver long-term value to their users. PAYG smartphones, coupled with increased mobile usage, are a good example of this trend and are growing rapidly in related markets.

Creating an ecosystem through collaboration for energy access

The key to unlocking energy access requires a collaborative effort from industry and sector players working to serve the underserved population. For example, financing is very important for the PAYG solar deployment. The industry needs financiers to get more involved and partner with manufacturers and distributors to deliver power to rural communities. They (manufacturers and distributors) need access to financing to lend to customers, allowing them to pay for their energy in installments in a flexible and affordable way. With the pay-as-you-go option, manufacturers and/or distributors deliver energy to the consumer with the ability to pay for overtime. So who bears the huge capital cost or finances the working capital needed to finance and distribute solar home systems, mini-grids or macro-grids?

Reiterated at Mobile World Congress in Kigali, Rwanda this year, the PAYG opportunity is huge given the scale of pent-up demand for affordable routes to access essential goods and services. Partnerships between the PAYG provider and the mobile operator are key to meeting this need, as each party brings unique value. Although PAYG models are based on mobile services, PAYG providers and mobile operators can develop a symbiotic relationship to reach underserved communities with the services they need. Deepening these partnerships will ultimately reach end users with products and services they have traditionally been excluded from accessing.

California Creative Corps arrives in Tehama County on Saturday – Red Bluff Daily News

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County Arts Agencies in the Northern California Region are excited to work side-by-side on a new workforce development opportunity for artists and practitioners in the arts, culture and sector organizations social services.

The Tehama County Arts Council will co-host a California Creative Corps Listening Session at 724 Main St. in Red Bluff beginning at 4 p.m. on Saturday, November 5 to present key insights and invite conversation about how artists can help communities address the issues most critical to them, on an upstate listening tour across 19 counties. The event is free.

The 2021-2022 state budget included a one-time $60 million General Fund allocation to the California Arts Council to implement the California Creative Corps Pilot Program, a media, outreach and engagement campaign designed to increase the awareness of issues such as public health, water and energy conservation, climate change mitigation and emergency preparedness, relief and recovery.

“At the heart of the Creative Corps are people – members of the community who play a vital role in civic engagement and social justice,” said Lisa DeFonte, chair of the County Council for the Arts Board of Trustees. Tehama. “We invite community members to come together with artists, arts and social service organizations, movement leaders, civic and business leaders, and policy makers for this critical conversation.”

Eliza Tudor, executive director of the Nevada County Arts Council, will join the council for their listening session.

“Together, we will introduce what the state considers a new method for assessing the relative health of communities,” Tudor said. “Using the California Healthy Places Index, we identify issues specific to Tehama County, invite feedback on solutions, and invite artists to position themselves to create awareness around them.”

The California Creative Corps Upstate Listening Tour runs county by county through mid-December.

“Upstate populations suffer from the worst health inequities in California and almost without exception – including the few areas with overall health scores in the upper quartiles – there are measures of health equity that are in the lowest quartile of community conditions,” said crew member Toni Gaylord. “What’s fascinating are the indicators that determine the health of a community and provide us with vital clues on how to move the needle.”

The California Arts Council has selected fourteen organizations to administer the California Creative Corps in nine regions with a period of grant activity launching October 1. in workforce development funds for artists, as well as arts and social service organizations that will employ artists between early 2023 and late 2024. Support local outreach with local knowledge, as well as artist technical assistance, and program development and evaluation, are multiple county arts agencies serving what amounts to the largest and most diverse geographic area in California, with more counties than any other Creative Corps region.

“In the upstate region, we are part of a network of agencies that serve as local state partners with the California Arts Council,” Tudor said. “While we each serve distinct communities, we are connected through a coalition that works to assess, consult and leverage peer learning and support, with equity at the heart of our concerns. In this sense, we do not work in isolation. In applying to be an administering organization for the Upstate region, it makes perfect sense to put our State-Local partnership to serve the largest and most diverse geographic area in California.

The California Arts Council views the California Creative Corps program primarily as an opportunity for job creation and human infrastructure development. The hope is that, region by region, the program will increase the ways in which artists engage in public work, so they can continue to build on intersectional public interest goals beyond the timeline of pilot program funding.

“We couldn’t be more thrilled to co-host such an important listening session and we urge community-minded artists, organizations and local municipal and county officials to join us in this proactive brainstorming. “said board member Chrissie Clapp. “If you are solution-oriented and have first-hand knowledge of vulnerable communities, either because you represent one or currently serve one, please join us. We also welcome those who want to learn more from a fresh perspective.

The California Creative Corps program follows an unprecedented time when communities around the world have suffered from the COVID-19 pandemic. During these years, creative industry professionals across the United States proposed ways to employ and deploy artists in programs similar to the Works Project Administration (WPA) and the Comprehensive Employment and Training Act ( CETA). The launch of a statewide Creative Corps pilot program is the result of a recommendation from the Governor’s Economic and Jobs Recovery Task Force, and is the first of its kind in the nation.

RSVP to [email protected]

Stakeholders sign QLD’s first global energy charter

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To share

The Electrical Trades Union (ETU) signed the Queensland Government’s world premiere Energy Workers Charterensuring workers made redundant by the nation’s clean energy transition will receive permanent employment with a government-owned energy organization.

The Workers’ Charter is part of the government’s new Queensland Energy Plan and outlines how the Queensland Government will meet its renewable energy targets and ensure a sustainable and affordable energy future for Queenslanders.

The charter guarantees every worker affected by the station closures a job with a government-owned energy organization. There will be opportunities for early retirement for workers nearing the end of their careers and new future opportunities for other workers.

Legend: The ETU signed the charter alongside other unions, stakeholders and the state government. Photo: UTE.

ETU Queensland and Northern Territory Divisional Branch Secretary Peter Ong said the plan would provide a $62 billion investment from the state government in clean energy assets and workers .

“This plan is the first of its kind in Australia, it will see a $62 billion investment from our state government in clean energy assets and a just transition for workers and communities,” Mr Ong said. .

“We were involved in the development of the Energy Workers Charter from start to finish, and today I signed it on behalf of our union. The charter ensures that no energy worker will be unemployed during the transition to renewable energy.

“Our members in coal-fired power plants know that the industry is changing. They need a plan. And I’m convinced that the Energy Workers’ Charter is the security they need.

The Premier of Queensland recently announced new renewable energy targets of 70% by 2032 and 80% by 2035 and pledged to retain public ownership of the majority of renewable assets.

“We need to maintain our current market share of 54% of public generation capacity when transitioning to renewable assets,” Ong said.

“I am extremely proud to say that our union was involved in developing the workers’ plan and charter that will shape the future of our state and give our members the confidence and stability they deserve.”

Yuriy Vitrenko, director of energy company Naftogaz, resigns – Kyiv Post

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Yuriy Vitrenko, head of the Ukrainian state energy company Naftogaz (Photo by Sergei SUPINSKY / AFP)

The Ukrainian government accepted the resignation of Yuriy Vitrenko, CEO of state-owned Naftogaz, on Tuesday, November 1. according to a company press release.

“By its decision of November 1, 2022, the Cabinet of Ministers of Ukraine approved the resignation of the Chairman of the Board of Naftogaz of Ukraine, Yuriy Vitrenko. Yuriy Vitrenko will continue to hold the position of head of the national company until November 3, 2022 inclusive.

According to Kyiv Post sources inside the company, the reason for Vitrenko’s resignation is the difficult relations with the President’s office. Several Kyiv Post sources also believe that Oleksiy Chernyshov, Minister of Community and Territorial Development, could be appointed in his place.

According to the procedure, Vitrenko should be removed from office by the supervisory board of Naftogaz, but the cabinet of ministers, which currently performs the functions of the national assembly, can do so.

Vitrenko was appointed on April 28, 2021 after the dismissal of former leader Andriy Kobolyev. In early September, the Reuters news service reported that Vitrenko was prepared to step down if it helped convince investors to back the company’s debt restructuring proposal.

Wineries are turning to sustainable investments

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California is one of the largest wine regions in the world, accounting for over 80% of the wine grown in the United States. The state’s huge wine industry is also engaged in efforts to reduce its environmental impact and improve sustainability amid prolonged drought, wildfires and rising energy costs.

Few regions understand the importance of water conservation and renewable energy better than Southern California. In the Temecula Valley, where the sun shines an average of 276 days a year, wineries are increasingly focusing on harnessing solar energy and using water more efficiently.

Robert Renzoni Vineyards is one of the region’s leaders in sustainability. Robert is always looking for ways to run the business more efficiently, whether that means using water conservation techniques or employing an environmentally friendly method of growing grapes that harnesses the power of the sun.

“We are about to be labeled as the very first and only 100% solar-powered winery in Southern California history,” Robert said. “As soon as the county lets us flip the switch, we’ll be tagged, which is pretty cool. We were also the first cellar-containing rainwater harvesting tank in Southern California history.

When it rains in the cellar, the water is piped underground and into storage tanks connected to pumps. Robert’s team can then recirculate this precious water through irrigation systems around the vineyard. In a county that averages about 12 inches of rain a year, this vineyard makes the most of every drop.

Although the process of conserving solar energy and water is expensive, many wine business owners like Robert see them as smart long-term investments to reduce the cost of energy and water. in the future.

Financing a more sustainable future

Instead of purchasing solar panels or other assets outright, some winery operators choose to lease these sustainability-related items. By doing so, many are able to reduce upfront capital requirements while preserving working capital. As operating costs rise, renting items like solar panels, equipment, or even wine barrels can help their business stay competitive while preserving cash.

Mary Spry is Vice President – Relationship Manager at American AgCredit, where she helps winery operators secure the right financing for sustainable investments. She says the leasing program is an attractive option for homeowners looking to preserve cash while investing in solar panels, equipment and wine barrels.

“Becoming a more sustainable business can be an expensive adventure, especially in the beginning,” said Mary. “Wineries have been impacted for the past two years by COVID and wildfires. Cash is king right now. If they can preserve their cash, while growing their business sustainably, that’s where we can help them strike the right balance with leasing.

With rising energy costs, solar power is a smart approach to help cut costs and reduce greenhouse gas emissions. However, the solar power installation process can take upwards of a year and a half, which means business owners have more time to wait before realizing these savings.

“Installing solar power can be time consuming and expensive, so leasing has been a big plus for borrowers by not having upfront project costs while they wait for approval. necessary to operate from PG&E,” said Mary. “We bear all financing costs during construction. »

Investing in the next generation

Many wineries in California remain family-owned, even though the industry has grown rapidly in recent decades. One such family business is Chappellet Vineyard in Napa County, where the second generation of family owners led the business through a period of growth and innovation, while continuing to craft exceptional wines.

Cyril Chappellet is CEO and President of the family winery that for more than 50 years has helped make Pritchard Hill one of California’s most revered wine sites. He guided the company through a period of investing in sustainability initiatives, including solar panels and wine barrels.

“The leasing program has helped us in two different areas of our business,” Cyril said. “One is our barrels, which we would rent for 3-4 years because that’s the period we use them. So basically we would pay for them as we use them. In the solar project that we rented with American AgCredit, we had the same situation but over a longer period.

Looking to the future, Cyril said investing in sustainable energy and renting wine barrels has added value to the winery today and will continue to benefit the family for years to come.

“Friends ask me, ‘What the hell are you doing putting all that solar power up there?’ So we do it for two reasons. The first is that it makes economic sense. The other reason is that it’s the right thing to do. It’s really great for the next generation.

2 Fast-Growing Dividend Stocks That Will Soar

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PM pictures

Co-produced by Austin Rogers

Duel of visions of the future of energy

Today, we live in the midst of an unprecedented level of uncertainty about the future of energy in the world. Two dual visions of the present future very different looks.

The Paris Climate Agreement calls for drastic cuts in carbon emissions around the world to prevent global average temperatures from rising more than 2 degrees Celsius. Advances in renewable energy technologies over the past few decades have dramatically reduced the costs of these energy sources, allowing countries to massively increase wind and solar installations.

But critics of the ‘net zero by 2050’ plan that would seek to limit global temperature rise to 2 degrees Celsius say it simply isn’t possible to achieve this with current technologies and supplies. of critical materials. Thus, the demand for oil, natural gas and probably also nuclear energy will continue to grow with the world’s population over the next few decades.

Representing the latter view, you have Exxon Mobil (XOM) the recent energy outlook, which predicts that by 2040, energy consumption will increase not only for renewable energy, but also for oil, natural gas and nuclear energy.

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Exxon Mobile Energy Outlook

Are Exxon Mobil’s energy prospects lucid and realistic? Or is he too optimistic in favor of the oil and gas giant’s own specialization?

While we believe demand for oil and gas will continue to grow for a long time to come, we believe Exxon Mobil’s forecast likely underestimates the efforts governments will be willing to make to decarbonize in the future.

At the other end of the spectrum, you have the McKinsey Global Institute’s World Energy Outlook 2022, which shows a very different trajectory for energy demand in the future.

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McKinsey’s Global Perspective on Energy

McKinsey’s forecast shows that global oil demand will peak in 2025, natural gas demand will peak in 2035 and coal demand will already peak in 2013, while Exxon Mobile’s forecast shows oil demand and gas will continue to grow until at least 2040.

Already, we are skeptical of McKinsey’s projection for several reasons.

  1. As we pointed out in “2 High Yielding Stocks for a Lifetime of Passive Income“, demand for coal has hit an all-time high this year as European countries scramble to secure energy sources to replace Russian gas.
  2. As Europe is now learning, it is dangerous for countries to become too dependent on an opposing nation for critical materials or energy-related intermediates. The Western world remains too dependent on China for the raw materials and photovoltaic solar panels needed to continue to increase the production of renewable energies.

So which vision of the future of energy will prove to be correct? Or will the truth end up somewhere in the middle?

Frankly, we don’t know. We don’t think anyone really knows. Exogenous shocks, such as the invasion of a large energy producer in a neighboring country, could always disrupt a well-thought-out projection.

Rather than picking sides, at High Yield Investor we believe that the future of energy will necessarily be an “all of the above” scenario, involving rapid growth in renewables but also natural gas, oil and can -be hydrogen.

Given this fundamental view, here are some of our top picks in energy and utilities.

1. Brookfield Renewable Partners LP (BEP, BEPC)

BEP is the industry leader in owning, managing and developing pure-play renewable power generation assets. One of the most exciting aspects of BEP is its massive growth ahead, exemplified by its approximately 100 gigawatt pipeline of future development projects, approximately four times larger than its currently operational portfolio.

BEP is technologically diverse, with just under half of its portfolio in hydroelectric dams, 23% in wind, and most of the rest in various forms of solar power.

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Presentation of the BEP

As you can see in the illustration above, BEP is also geographically diverse, with 80% of its assets located in North America or Europe, 17% in South America, and a small but growing 3% in Asia.

The overwhelming majority of BEP’s cash flow comes from long-term power purchase agreements (“PPAs”) with an average remaining term of 14 years. These contracts create a high degree of stability in BEP’s revenue streams, and more than 70% of them include inflation adjustments that provide incremental revenue increases from high inflation.

Another prime feature of BEP is the company’s strong balance sheet which has earned a BBB+ credit rating. Although BEP is highly leveraged as part of its funding strategy, it also maintains a large cash buffer at all times. Currently, the company enjoys approximately $4 billion in cash (~30% of market capitalization).

Recently, BEP reached an agreement with the uranium producer Cameco (CCJ) at purchase Westinghouse, a company that maintains and services nuclear power plants.

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Presentation of the BEP

It makes sense for BEP to enter the nuclear energy space with this acquisition, as it is highly complementary to the rest of its clean energy portfolio.

Many countries that were previously on the path to phasing out their use of nuclear energy have recently backtracked and opted to extend the life of these nuclear power plants and, in some cases, even expand the use nuclear. Germany, France and Belgium are all examples on the European continent, but the recently passed Inflation Reduction Act also contains incentives for nuclear power generation in the United States.

These and other investments are expected to fuel BEP’s continued strong growth in funds from operations (“FFO”) per unit, which has been around 10% per year for the past decade. And, in turn, this strong earnings growth should also fuel distribution growth, which has also been strong and consistent for more than two decades now.

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Presentation of the BEP

The combination of BEP’s 4.55% dividend yield and 6% dividend growth alone yields a total return of 1-10% or more. But also consider that the BEP likely has a significant price upside from here (at least 35%) when renewables become investor-friendly again.

ATCO is a Canadian holding company of various companies, the principal of which is Canadian Utilities (OTCPK: CDUAF) accounting for approximately 80% of revenues.

While CU is a slow growing regulated utility operating primarily in Alberta, Canada, ATCO also owns a handful of faster growing businesses. Notably, ATCO has long been an industry leader in the niche market of modular construction in Canada. This company builds and operates temporary workforce housing for various projects such as pipeline construction, usually located in remote areas.

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Presentation ATCO

ATCO also holds a minority stake in Neltume Ports, owner/operator of port facilities in South America.

Although ATCO’s total earnings were limited from 2013 to 2021, this year appears to have broken that streak of poor performance.

Total adjusted earnings increased approximately 13.5% year-over-year in the first half of 2022, and adjusted EPS increased 13.8% due to a slight decrease in shares outstanding. Meanwhile, in the second quarter of 2022, adjusted EPS jumped 15.7%, indicating that ATCO’s earnings resurgence this year may have just begun in the first half.

This impressive performance was largely driven by earnings growth at Canadian Utilities (up 18.2% in the second quarter), which could mean that CU’s long streak of underperformance has come to an end.

This comment from the management of the Q2 conference call:

Our leadership’s drive to deliver top performance, our operational expertise, and our historical track record all support the idea that outperformance above allowed ROE [returns on equity] will be feasible for 2023.

The fact that CU recently announcement the acquisition of $730 million of renewable energy assets and related development pipeline from Suncor Energy Inc. (SU).

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Presentation ATCO

These assets are primarily concentrated in Alberta, making them an excellent complement to CU’s existing power generation portfolio. They also provide a big boost to CU’s long-term decarbonization efforts, which so far have been pretty minimal.

And CU and ATCO should have plenty of relatively inexpensive financing to make attractive investments in the future, thanks to their A- and BBB+ quality credit ratings, respectively.

The proof of ATCO’s ability to generate long-term shareholder value is in the pudding, or rather, the 29-year dividend growth streak.

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Presentation ATCO

ATCO’s 4.5% dividend yield also remains very well protected by earnings, with a payout ratio of just 46.6% in the first half of 2022.

We estimate that ATCO is up 20% from its fair value. Combining that with dividends and growth, this Canadian gem should enjoy strong double-digit returns from here.

Conclusion

The world needs energy. And while we all have preferences about which sources should provide that energy, almost all of us would rather keep the lights on and our home warm than fulfill all of our energy preferences. This virtually guarantees that the world will continue to adopt an “all of the above” energy supply strategy for the foreseeable future.

As such, great opportunities exist for high-yield investors in all areas of energy, from oil and gas to renewables to utilities.

For long-term investors, at High Yield Investor, we believe BEP and ATCO are two phenomenal ways to generate high dividend income while helping to provide much-needed energy across the globe.

The Connell Company and Brightcore Energy Celebrate Completion of Largest Solar Canopy Installation in Berkeley Heights

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Yesterday, The Connell Company and Brightcore Energy, a leading provider of end-to-end clean energy solutions for the commercial and institutional (“C&I”) market, celebrated the completion of the world’s largest canopy installation Berkeley Heights solar parking lot to date, located in Connell’s The Park, a 185-acre campus offering a hospitality-centric solution to the traditional multi-tenant office.

Berkeley Heights Mayor Angie Devanney joined Connell and Brightcore executives at the afternoon groundbreaking ceremony to commemorate the project, which in addition to being the largest project in this guy in Berkeley Heights, is also one of the largest solar parking lot canopies installations in the state of New Jersey.

The project consists of 9,158 solar panels affixed to parking canopies and the roof of 100 Connell Drive, home to the new innovation center of Fiserv, one of the world’s leading providers of payment and financial services technology solutions. . The signs cover approximately 1,500 parking spaces, including 38 electric vehicle charging stations, and 100,000 square feet of the building’s roof area. The facility is expected to generate around 4.9 million kWh per year, the equivalent of enough carbon-free electricity to power 560 homes over the next 30 years.

“At The Park, we are constantly looking for opportunities to reduce our carbon footprint,” said Shane Connell, executive vice president of The Connell Company. “Sustainability remains a priority as we consider how to transform and improve the office experience in a way that not only increases tenant and employee satisfaction, but also contributes to the greater good of our community. Brightcore has been an ideal energy service provider to cultivate a greener campus and we are very proud to see this initiative come to fruition.

In addition to the 100 Connell Drive solar installation, Brightcore has also developed a second rooftop solar project at 200 Connell Drive in the park. The company aims to help others dramatically reduce their dependence on fossil fuels through a comprehensive approach to energy efficiency and clean energy resources. Based on an avoided cost of $0.10/kWh, Brightcore estimates the cost savings from the 100 Connell Drive project will translate to $496,843 per year, or more than $12.4 million over the life cycle. 25 year life of the system.

“Brightcore is delighted to work with Connell on this project. We are now facing enormous challenges in terms of energy affordability, strain on the grid and, of course, climate change. Connell is doing what he can to address these growing problems and that’s important. I hope we can all take inspiration from their leadership and become the change we so desperately need,” said Mike Richter, President of Brightcore Energy.

The park, which is located on a 185-acre wooded campus 30 minutes from Manhattan, features 1.5 million square feet of class-A office space and flexible workspaces and is home to big-name companies such as L ‘Oreal, Fiserv and Samsung. The sprawling park campus also includes a 176-room Embassy Suite; bespoke fitness and health equipment, and Life Time Fitness; green spaces programmed for active and passive recreation, and Round Table Studios – a 40,000 square foot coworking space that offers a curated selection of carefully designed workstations, private offices and community spaces.

The park is undergoing a phased upgrade plan with completion scheduled for 2023. For more information, please visit https://theparkatnj.com/

Is swimming an aerobic or anaerobic exercise?

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If going to the pool is your favorite way to train daily, you may have already asked yourself the question “is swimming an aerobic or anaerobic exercise?”

While swimming is generally considered a gentle form of aerobic exercise (opens in a new tab), it is possible to challenge yourself to make the time spent in the pool more anaerobic. A great low-impact activity, with the right adjustments, swimming can increase heart rate and engage the fast-twitch muscles associated with harder workouts.

And whether you work out aerobically or anaerobically, swimming is an effective form of exercise to promote physical health and help prevent cardiovascular disease.

Below we explain everything you need to know about aerobic or anaerobic exercise. (opens in a new tab) and share our top tips on how you can make swim training even harder.

What is aerobic and anaerobic exercise?

The American College of Sports Medicine (opens in a new tab) defines aerobic exercise as any activity that uses large muscle groups, can be sustained continuously, and is rhythmic in nature.

“The term aerobic means with oxygen and refers to the use of oxygen to adequately meet energy needs during exercise. The body uses this oxygen to break down energy sources such as glycogen and fat to provide energy. energy,” says sports scientist Emily Codd.

Emily Codd is a sports scientist and product analyst at INCUS Performance (opens in a new tab). She holds a master’s degree in exercise physiology and a bachelor’s degree in sport and exercise science. In her role at INCUS, she works with a variety of elite and recreational athletes to help them learn more about their performance, how to improve their technique and how to reduce injury.

Aerobic exercise can mean many different things. It can be swimming, rowing, walking or cycling on one of the best exercise bikes (opens in a new tab).

Anaerobic exercise (opens in a new tab) is defined by the Journal of the Canadian Chiropractic Association (opens in a new tab) as intense physical activity of very short duration, fueled by the energy sources of contracting muscles, without the use of oxygen.

Anaerobic exercise involves the use of fast-twitch muscles with examples of this exercise including sprinting, high-intensity interval training (HIIT), and weightlifting.

Heavyweight powerlifting person

(Image credit: Getty)

Aerobic and anaerobic exercise are two categories of metabolism and take place in different parts of the muscle cell. Aerobic exercise relies primarily on fat for fuel and anaerobic exercise relies primarily on carbohydrates for fuel

When swimming fast we rely more on anaerobic metabolism and when swimming slower we rely on aerobic metabolism.

“The speed at which we swim will determine the sources of fuel we use and therefore whether we rely primarily on aerobic metabolism or primarily on anaerobic metabolism. This will change as we slow down and speed up. The word ‘primarily’ is important here Metabolism relies on a mix of these different energy pathways being used – we don’t just turn different metabolic pathways on and off,” says sports and exercise scientist Mitch Lomax.

Mitch Lomax

Dr. Mitch Lomax (opens in a new tab) is Reader in Pulmonary Exercise Physiology in the School of Sport, Health and Exercise Sciences (opens in a new tab) at the University of Portsmouth (opens in a new tab). She is a BASIC Accredited Sport and Exercise Scientist and a Chartered Scientist. As well as providing scientific support to a number of individual athletes, she has also provided scientific support to the England Pistol Team, Swim England and British Swimming.

Is swimming aerobic or anaerobic?

Swimming can be both aerobic and anaerobic depending on intensity and duration.

“Usually, the longer the duration of the exercise, the greater the aerobic predominance. More explosive and shorter swim training, such as sprinting, is mostly anaerobic,” says Codd.

The dominance of the energy system depends on the speed at which you swim. Slow swimming primarily uses aerobic metabolism, while fast swimming primarily uses anaerobic metabolism.

Person doing a butterfly stroke in the pool

(Image credit: Getty)

“Fast is a relative term and not related to an absolute or fixed swimming speed. What will be considered slow speed for a fit and skilled swimmer will be considered fast speed for someone less fit and less skilled. It means that the contributions made by the different metabolic pathways will differ even if the swimming speed is the same,” adds Lomax.

Thus, the more you accelerate, the greater the contribution of the anaerobic pathways and the more you slow down, the greater the contribution of the aerobic metabolism. But the best way to judge this is on perceived exertion rather than a set speed.

How can you make swimming a tougher workout?

Codd recommends adding resistance to your workouts to make them harder. “Using equipment such as fins or paddles will increase muscle engagement when swimming,” she says.

You can also add intervals to your training just like you would for running. It’s a hard pace but sustainable for a while.

“You will feel more comfortable at the beginning of the session, but you will start to become uncomfortable as the session progresses. Train in this way with greater effort while incorporating more rest periods between reps, rather than an easy-intensity swim with a long rest, will create a more challenging workout, build your aerobic capacity, and train you to maintain moderately high speeds for longer,” says Codd.

Mixing up your swimming and being creative is only limited by your imagination, says Lomax.

Person using a floating aid to swim with their legs

(Image credit: Getty)

“You can try swimming different strokes. Not all strokes are equal in terms of swimming efficiency, you might spend more time on a stroke that you find more difficult to swim. You can also try doing more laps into your usual swim time. For example, have a part of the swim where you swim faster than usual or reduce your rest periods between laps,” she adds.

Alternatively, rearrange your usual steady-state swim into a number of sets that are swum at progressive speeds. Divide 12 rounds into an easy length, a moderate length, a fast length, then rest and repeat this four times.

You can also play with progressive distances such as 50 yards, short rest, 100 yards, short rest, 200 yards, long rest, repeat three times.

“Rather than always swimming fully, you can also introduce swimming drills, or swimming legs only, or swimming arms only – there are swimming aids such as kickboards and pull up buoys that can help You can also wear a special swimsuit over your regular suit to make it harder to move around in the water,” adds Lomax.


This article is not intended to offer medical advice and readers should consult their doctor or health care professional before adopting any diet or exercise regimen.

Where will the trillions needed to go green come from?

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Comment

One word you’ll find liberally scattered throughout the nearly 500 pages of the International Energy Agency’s latest World Energy Outlook is “trillion”. Even today, it’s an intimidating word, especially when applied to dollars. And it represents one of the main obstacles to the energy transition mapped by the IEA models.

Clean tech generally requires a larger initial investment, but saves money through lower running costs, such as free sun and wind, down the line (I’m leaving out the “savings” of the climate change mitigation, which are substantial). However, recovery times can be long. For example, at prevailing prices, it would take around eight years for the fuel cost savings resulting from the purchase of an electric vehicle to cover the initial premium over a traditional car, excluding subsidies. (1) So when the IEA talks about annual clean energy investments needing to reach $4 trillion by 2030 to achieve net zero emissions, more than three times current spending, the question of where all this will come soon stands.

One answer: Money saved on other fuels.

Let’s agree from the outset that any long-term pattern tends to be both (a) wrong on its specific outputs, and (b) improbably smooth on its trends. Nevertheless, the basic concept here – that investment in a technology can be offset to some extent by savings on the one it replaces – is indisputable.

Take the biggest energy market of all, oil, where the nominal upstream cost of current consumption is north of $9 billion a day. decade or quickly collapses, depending on the ambition with which net-zero emissions policies are implemented. Lower demand should mean a lower daily fuel bill, including the impact of lower oil prices, and less investment needed to maintain or develop oilfields. Multiplying the IEA assumptions, the global upstream oil “bill” looks like this until 2050:

The question is: how much of the additional investment in clean energy needed to achieve the most ambitious scenarios is offset by lower oil spending? A lot, it turns out. The oil savings more than offset the additional investment required in clean energy.

Offsetting one against the other yields cumulative savings of $8 trillion or $19 trillion under the Announced Ads and Net Zero scenarios, respectively.

Most of them, however, do not come into effect until the 2030s according to these projections, because it takes time for oil demand to drop enough to offset the surge in clean energy investment. This initial increase in spending on green technologies is particularly formidable in today’s environment, where war and fragmented trade ties have driven energy costs to existential levels for some countries.

Even without the disruptions caused by Russian aggression, these soft projections mask the inevitable upheavals that accompany any capital rotation on this scale. As the IEA recognizes in its Outlook, simply relying on two competing energy systems for any length of time, with existing assets facing economic obsolescence long before their physical usefulness ends, poses a particularly thorny problem. (see this). Still, when you’re faced with a multi-trillion dollar bill for decarbonization, don’t ignore the discounts that come with it.

• Our climate future can be decided in deadlock: David Fickling

• A hotter planet is already distorting asset prices: Jonathan Levin

• Climate bill alone won’t halve emissions by 2030: Eduardo Porter

Want to know more about Bloomberg Opinion? {NOTICE }.

(1) This assumes an average pre-subsidy premium of $10,000 for an electric vehicle versus a comparable internal combustion engine vehicle (Source: National Resources Defense Council). Also assumes a driver driving 13,000 miles per year, with a fuel economy of 25.7 miles per gallon for gasoline and 3 to 3.5 miles per kilowatt hour for electric. Uses prevailing average gasoline price of $3.77 per gallon and residential electricity rate of 15.95 cents per kilowatt hour.

(2) This is just the product of multiplying 4Q 2022 demand of 100.6 million barrels per day by $95, where Brent crude oil currently trades. It does not take into account refining, logistics and marketing costs and margins, or price differences between different grades of crude oil.

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

Nicor ​​Gas and Southern Company partner with two local Habitat for Humanity affiliates to build energy-efficient, net-zero communities in Chicagoland

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smart neighborhood concepts being planned for Aurora and Northern Fox Valley

NAPERVILLE, Ill., October 26, 2022 /PRNewswire/ — Today, Nicor ​​Gas and Southern Company announce a new partnership with Fox Valley and Northern Fox Valley affiliates Habitat for Humanity to develop Smart Neighborhood communities dedicated to providing affordable, greenhouse gas-free housing options in the Chicagoland area.

Two planned communities, one in Aurora and a second under development in North Fox Valley, will total 30 net-zero emissions single-family homes equipped with a combination of renewable, electric and natural gas technologies. Eligible residents will be freed from costly mortgages and benefit from the use of features such as energy-efficient appliances that help reduce high energy bills; while reducing their carbon footprint.

The Smart Neighborhood will be built along Jericho Road and Garden Avenue near the Burlington Northern Railroad tracks in Aurora. Also known as CARE (Carbon-neutral, Affordable, Resilient and Efficient) communities, each Smart Neighborhood will come with high-efficiency building envelopes, solar panels and battery solutions that will enable greater reliability in the event storms or bad weather. Groundbreaking for the Aurora development is expected to take place next spring. Northern Fox Valley development work is scheduled for 2024.

“We are only at the beginning of imagining the potential of renewable technologies and the resilience of a net zero future,” said Wendell Dallas, Chairman and CEO of Nicor ​​Gas. “As we enter this Fourth Industrial Revolution, we must be more than innovative but inclusive to ensure that everyone can enjoy the cost savings and satisfaction of knowing they are doing their part to ensure a clean energy future for their people. communities.”

Smart Neighborhood is a registered trademark of Southern Company, the ultimate parent company of Nicor ​​Gas. Smart neighborhoods advance energy technologies that work together in an affordable and reliable clean energy economy. They lead to job creation, various business partnerships, economic development and green transportation. The Aurora community will be the first smart neighborhood to be built Illinois and will launch a three-year research study to examine how natural gas can be part of the solution to achieving net zero energy goals.

“At Habitat for Humanity, we are excited to work alongside Nicor ​​Gas to create a path to strength, stability and independence through home ownership,” said Jeffrey Barrette, executive director and CEO of Fox Valley Habitat for Humanity. “This collaboration represents a unique opportunity to advance the adoption of net-zero energy solutions, while making them available to people who could not normally afford these environmental improvements.”

As the largest supplier of natural gas to Illinois, Nicor ​​Gas conducts cutting-edge research and development every day focused on a clean and resilient energy future. Nicor ​​Gas is part of Southern Company Gas, a family of four natural gas distribution companies whose commitment to sustainability includes moving toward net zero emissions from operations, while providing quality customer solutions, enriching communities and investing in innovation.

Habitat for Humanity is a global nonprofit organization that brings people together to build homes, communities and hope, envisioning a world where everyone has a decent place to live. The housing organization works in communities in all 50 states.

For this project, Fox Valley and Northern Fox Valley affiliates Habitat for Humanity will serve as the Smart Neighborhood Initiative Developer. In addition, Habitat for Humanity will partner with local authorities as part of a broader neighborhood revitalization initiative to carry out home repairs and build affordable, quality housing for those in need. Nicor ​​Gas will support this initiative through its energy efficiency program.

To learn more about the Smart Neighborhood Initiative, please visit
www.NGSmartNeighborhoods.com.

About Nicor ​​Gas

Nicor ​​Gas is one of four natural gas distribution companies of Southern Company Gas, a wholly owned subsidiary of Southern Company (NYSE: SO). Nicor ​​Gas serves more than 2.2 million customers in a service territory that encompasses most of the northern third of Illinoisexcluding the city of Chicago. For more information, visit nicorgas.com.

About Southern Company Gas

Southern Company Gas is a wholly owned subsidiary of Atlantabased at Southern Company (NYSE: SO), America’s leading energy company. Southern Company Gas serves approximately 4.3 million natural gas utility customers through its regulated distribution companies in four states with approximately 666,000 retail customers through its companies that market natural gas. Other non-utility businesses include investments in interstate pipelines and the ownership and operation of natural gas storage facilities. For more information, visit southcompanygas.com.

About the Southern Company

Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through three-state electric utility companies, four-state natural gas distribution companies, a competitive generation company serving wholesale customers across America, a major distributed energy infrastructure, fiber optic and telecommunications network company. services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we’ve been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technologies. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries are developing the custom energy solutions our customers and communities need to drive growth and prosperity. Our uncompromising values ​​ensure that we place the needs of those we serve at the center of everything we do and govern our business for the benefit of our world. Our corporate culture and hiring practices are nationally recognized. Southern Company was named America’s 2nd Best Large Employer in Forbes Magazine’s 2022 rankings. Additional accolades have been received from the US Department of Defense, GI Jobs magazine, DiversityInc, Black Enterprise, Fortune’s list of “World’s Most Admired Companies” and the Women’s Choice Award, to name a few. some. To learn more, visit www.southerncompany.com.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its first inspirations as a grassroots movement on an interracial southern community farm Georgia. Since its founding in 1976, the Christian Housing Organization has grown to become a leading global nonprofit organization working in local communities in all 50 states of the United States and in more than 70 countries. Families and individuals in need of a helping hand partner with Habitat for Humanity to build or improve a place they can call home. Habitat owners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering, or adding a voice to support affordable housing, anyone can help families achieve the strength, stability, and independence they need to build a life. better. Through shelter, we empower. To learn more, visit www.habitat.org.

SOURCE Southern Society; Nicor ​​Gas

New Mexico Division of Energy Conservation and Management Launches Site to Accept Green Building Tax Credit Applications

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Directed by Louise Martinez

REMDR News:

SANTA FE – The Energy Conservation and Management Division (ECMD) of the New Mexico Department of Energy, Minerals and Natural Resources (EMNRD) has initiated a website Accept tax credit claims from residents who take steps to make their homes and businesses more energy efficient.

The green building tax credits were updated in 2020 through amendments to state laws governing personal and corporate income taxes. Legislation governing the personal income tax credit includes provisions that provide additional incentive to make improvements that reduce energy consumption and utility costs in affordable housing or homes occupied by residents in low income.

“We are really excited to launch this website during National Energy Awareness Month,” said ECMD Director Louise Martinez. “This is the perfect time to draw attention to the need for everyone to participate in the effort to improve the quality of life of all citizens through the reduction of energy consumption. Homeowners who live in energy-efficient homes save up to 50% on their utility bills each year – money that goes back into local communities. »

Upgrades qualifying for tax credits include installation of energy-efficient equipment such as air-source and geothermal heat pumps, heat-pump water heaters, energy-efficient windows and doors, high-quality insulation and charging equipment for electric vehicles.

New Mexico taxpayers who have installed these types of products in existing buildings since January 1, 2021 can visit the website to apply for a tax credit certificate.

A certain amount of documentation is required to verify equipment upgrades. Thus, taxpayers are invited to read instructions and checklist available on the site before launching the application.

Applications that include insulation upgrades and/or electric vehicle charging equipment will require downloading a Energy Conservation Product Work Detail Form completed and signed by the installing contractor.

The application site is available here.

UK’s de facto windfall tax on green energy is ‘catastrophic’, industry warns

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The de facto windfall tax imposed by the UK government on low-carbon power companies will have ‘catastrophic consequences’ for investment in green technologies such as wind and solar, energy companies have warned .

Energy UK, a trade body which represents companies such as Centrica, EDF Energy, ScottishPower and SSE, joined over the weekend in criticism of the government’s revenue cap on low-carbon electricity generators, who has been confirmed by the government of Liz Truss before she left her post as Prime Minister.

The policy, which was put in place to raise funds for the the government’s energy bill assistance program for households and could remain in place until the end of 2027, is included in a controversial Energy Prices Bill which is still pending in Parliament. However, ministers have yet to confirm the level of the cap.

It applies to companies that own low-carbon power generation assets such as wind and solar farms, as well as nuclear and biomass power plants. Gas-fired power plants are excluded although they also benefit from the spike in wholesale electricity prices following the Russian crisis invasion of ukraine.

Energy companies have called the policy a windfall tax and fear it could be even more punitive than a separate tax on oil and gas producers, which was introduced by the former Chancellor Rishi Sunak in May.

Energy UK sent a briefing to all MPs ahead of Chancellor Jeremy Hunt’s budget statement – due October 31 – warning that the cap, as currently designed, would “cement a steeply tilted tax regime in favor of oil and gas, and would send a disastrous message [to global investors] on the UK’s climate commitment.

The group argues that if the oil and gas tax – which has raised the headline tax rate for fossil fuel producers from 40% to 65% – is only levied on profits, the cap will limit revenue of its members, which is potentially even more damaging.

The group also points out that Sunak’s so-called energy profit tax imposed on fossil fuel producers came with a generous investment allowance that companies can use to reduce their tax bill if they embark on new ventures. new drilling operations.

The Oil and Gas Tax includes a sunset clause that would scrap it at the end of 2025, while the Energy Prices Bill would give ministers the power to keep the revenue cap in place two years more, until the end of 2027, warns Energy UK.

Unless similar allowances are built into the revenue cap, the government will “penalize investment in clean, cheap, low-carbon generation in favor of polluting oil and gas extraction”, the government says. briefing.

A “poorly designed” revenue cap would be “an unprecedented policy that could have catastrophic consequences on the investments needed to safeguard both our climate goals and energy security this winter and beyond,” the briefing adds.

Energy companies are hoping a new Conservative prime minister will pause some of Truss’ initiatives and work with the industry to devise better solutions to the energy price crisis.

Britain’s trade department did not immediately respond to a request for comment.

Dietrich Mateschitz, co-owner of Red Bull and energy drink giant, dies aged 78

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Dietrich Mateschitz (left) congratulated Max Verstappen at the Austrian Grand Prix in 2018

Red Bull co-owner Dietrich Mateschitz, a major global business figure due to his energy drink empire, has died aged 78.

Mateschitz was the driving force behind the creation of what has become the world’s leading energy drink market.

He used the fortune created by this to create a Formula 1 team which became one of the main forces in the sport.

“It’s very, very sad, what a great man,” said Red Bull team principal Christian Horner.

“What he has achieved and what he has done for so many people, across the world in different sports, is second to none.”

Speaking to Sky Sports ahead of qualifying for the United States Grand Prix on Saturday, moments after Mateschitz’s death was announced, Horner said his team was determined to “do the best for him” when qualifying and Sunday’s race.

“A lot of us have to be very grateful to him for the opportunities he presented and the vision he had, the strength of character and never being afraid to pursue his dreams.

“That’s what he’s done here in Formula 1, proving you can make a difference. We’re just incredibly grateful.”

Horner said ‘luckily’ Mateschitz got to see Red Bull’s Max Verstappen win his second consecutive world title when the Dutch driver won the Japanese Grand Prix two weeks ago.

“He was very proud of the team,” added Horner.

Mateschitz’s death is not believed to threaten the future of Red Bull or its sister team Alpha Tauri.

Formula 1 chief executive Stefano Domenicali said he was “deeply saddened” and called Mateschitz a “hugely respected and much loved member of the Formula 1 family”.

The Italian added: “He was an incredible visionary entrepreneur and a man who helped transform our sport and created the world famous Red Bull brand.”

From Salesman to Founder of a $25 Billion Beverage Giant

Austrian Mateschitz was a salesman for consumer goods company Procter & Gamble when he discovered Krating Daeng, the drink that would become Red Bull, during his travels in Thailand.

In 1984, he founded Red Bull with the drink’s founder, Thai Chaleo Yoovidhya, and launched the Red Bull brand in 1987, eventually transforming it into the world’s largest energy drink and making an estimated fortune of $25 billion.

He began to associate the brand with extreme sports such as surfing, cliff diving, winter sports and mountain biking, and Red Bull became involved as a sponsor in many of them.

His involvement in F1 began with the Swiss-based Sauber team, of which Red Bull became a 60% shareholder, before the two companies went their separate ways following a row over driver choice – Sauber signed inexperienced Finn Kimi Raikkonen for his first season in 2001, when Mateschitz wanted him to choose Red Bull protege Enrique Bernoldi.

Three years later, Red Bull bought the failing Jaguar team from owner Ford and renamed it, employed former Formula 2 driver Christian Horner as team principal and hired the lead design engineer. of sport Adrian Newey as technical director with a salary of 10 million dollars.

They set out to make Red Bull a leading force, became F1’s fastest team in 2009 and won their first drivers’ and constructors’ titles with Germany’s Sebastian Vettel in 2010, the first of four consecutive doubles for the team.

Red Bull also expanded its sporting interests into football, buying teams in Salzburg, the town closest to Mateschitz’s home of Fuschl am See in Austria, and Leipzig in Germany, as well as what was the New York/New Jersey MetroStars, Campinas in Brazil, founding a club in Ghana and taking over an ice hockey team in Munich.

Red Bull has earned a reputation for combining Newey’s design genius and competitiveness with a ruthless, combative attitude in all areas of the sport, from exploiting technical gray areas, to taking an abrasive approach to decision makers and rivals and reveling in the role of disruptors.

The advent of turbo-hybrid engines in 2014 ended their dominance, as Mercedes entered its own period of command.

Red Bull continued to produce competitive cars, but were held back by their Renault engines. In the meantime, they were laying the foundations for their return to the front.

Mateschitz’s right-hand man in motorsport, Helmut Marko, signed Verstappen in 2014 in the middle of his first season in motor racing and made him the youngest driver to compete in a Grand Prix weekend when he received a Toro Rosso for first practice at the Japanese Grand Prix, aged 17 years and three days.

Verstappen was signed for the Toro Rosso team – the former name of Alpha Tauri, which now bears the name of a group fashion brand – in 2015 and in the fifth race of 2016 he was promoted to Red Bull , winning the Spanish Grand Prix on his debut. for the senior team.

After abandoning their engine partnership with Renault and allying with Honda in 2019, Red Bull has become increasingly competitive and in 2021 had its first absolutely competitive car since 2013.

Verstappen used it against Mercedes’ Lewis Hamilton in one of the most intense title battles in F1 history, with the Red Bull driver eventually declared champion after a controversial finale in which he won the race, overtaking Hamilton, after the FIA ​​race director failed to follow. the rules correctly during a late safety car period.

With the advent of new rules in 2022, Red Bull emerged as the dominant team, culminating in Verstappen’s dominant charge to a second world title.

Throughout his F1 involvement, Mateschitz, despite being a reclusive character who rarely gave interviews, became one of the sport’s most important power brokers.

At the same time, he used his fortune to help regenerate his native region of Styria in Austria, promoting local crafts and arts. He also created the charity Wings For Life to benefit spinal cord research.

He left an important legacy in motorsport and global commerce. But his passing inevitably leaves long-term question marks over all aspects of the business, even though Chalerm Yoovidhya, Chaleo’s eldest son and considered Red Bull’s majority shareholder from the start, would be passionate about F1.

China’s climate goals need $14 billion for power and transport, World Bank says

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World Bank report says China will need power and transport investments estimated at $14 billion to meet Beijing’s goal of net-zero emissions by 2060, as party congress in power this week reinforced its commitment to a “green energy revolution”.

China’s decarbonization plan is expected to decouple economic growth and emissions at a faster pace and at a lower level of income than advanced economies, the bank warned, as it made “significant investments in massive green infrastructure and scaling up technology”.

But China could also reap some benefits, the World Bank said, such as its position at the forefront of advancing low-carbon technologies. China is already home to a third of the world’s installed wind power and a quarter of its solar capacity.

In his congress opening speech, President Xi Jinping emphasized his plan to “fundamentally eliminate” pollution, despite the emergence of a central message on energy security, food security and other key supplies that fuel the Chinese economy, the independent China Dialogue reported.

State media also quoted Chinese Foreign Ministry spokesperson Wang Wenbin as saying that China hopes “countries can overcome the difficulties as soon as possible and get back on the right track of low-carbon development.” and green, in order to jointly achieve the objectives of the Paris Agreement”.

Chart showing China's decarbonization requires $14 billion for power and transportation

China, the world’s largest producer of greenhouse gases each year, is “severely affected” economically by global warming, the World Bank noted. Its low-lying coastal cities, which account for a third of China’s gross domestic product, are affected by rising sea levels, storm surges and coastal erosion.

China’s northern and western inland provinces are increasingly prone to heat waves and drought, intensifying the risk of water shortages and affecting rural farmers.

Ilaria Mazzocco, a member of the chair of Chinese business and economic administration at CSIS, a Washington-based think tank, told Beijing it was “understood that by reforming their energy system, they can become a more efficient economy.

President Xi has pledged in 2020 for China to reach its peak CO₂ emissions by 2030 and reach net zero emissions by 2060. To achieve this goal, China’s demand for coal would have to be reduced. , which represents half of world consumption, to a level close to zero.

According to China’s National Bureau of Statistics, coal accounted for 56% of China’s energy consumption in 2021.

Graph showing that energy-related emissions account for most of China's total GHG emissions

Lockdowns to contain the coronavirus have depressed industrial demand in China and coal consumption fell 3% in the first half of 2022, the International Energy Agency estimated.

Power outages in early summer during bouts of extreme heat led Beijing to offer additional aid to coal-fired power plants to help maintain electricity supplies as demand for electricity increased.

Beijing has made “serious efforts” to reduce its dependence on coal, said Jennifer Turner, director of the Wilson Center’s China Environmental Forum. “But you have to look at this as an attempt to turn the Titanic around, right?”

China’s power sector – the biggest source of Chinese carbon emissions – would need to be decarbonized first to achieve the rapid emissions decline needed over the next two decades, the World Bank said, energy investments solar and wind steadily reducing the use of coal.

Electrification and increased energy efficiency would boost the decarbonization of Chinese industry in the short term, the World Bank said.

Continued investment in mass public transport systems and electrification would reduce emissions from this sector.

Of the $14 billion in additional investment estimated to be needed by 2060 for power and transport, the bank said the majority should be concentrated upstream to avoid locking in carbon-intensive assets.

Public investment would be “necessary but not sufficient to meet overall investment needs,” the World Bank said in its report. “They will need to be complemented by good sectoral policies, wide-ranging regulatory reform and new standards to unlock the full potential and encourage private sector investment and innovation in these sectors.”

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Attorney General James and NYSERDA Announce Groundbreaking Energy Efficiency Project in South Albany

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$1.2 million project will dramatically improve living conditions for families in Steamboat Square

October 21, 2022

New York Attorney General Letitia James and New York State Energy Research and Development Authority (NYSERDA) President and CEO Doreen M. Harris today announced joint funding of more than $1.2 million dollars for a model energy efficiency project at Steamboat Square, an Albany Housing Authority (AHA) residential complex in the South End neighborhood of Albany. The South End is a disadvantaged community, a designation created by the Climate Act and defined by the Climate Justice Task Force, which means the community is made up primarily of low- and middle-income households who face hardship. disparate public health, environmental pollution and climate issues. impact of change.

The project is a model of the cost savings and environmental benefits associated with retrofitting large multi-family buildings with rigorous, state-of-the-art energy conservation measures. The project also includes a “greening initiative” to bring new natural spaces to the Steamboat Square community, reduce air pollution and mitigate extreme heat.

“Far too often, low-income communities and communities of color are unfairly burdened with more expensive and less comfortable homes due to a lack of investment in new energy- and cost-efficient technologies,” said Attorney General James. “With this revolutionary project, we are improving the conditions and quality of life for families in Steamboat Square. I am grateful to our partners at NYSERDA and the Albany Housing Authority for working with my office to protect the health and well-being of New Yorkers.

“The Steamboat Square project exemplifies what can be done to provide energy-efficient, comfortable and healthy homes for New York families living in historically underserved communities as we work diligently to meet Governor Hochul’s goal of two million climate-friendly homes by 2030.” said Doreen M. Harris, CEO and President, NYSERDA. “NYSERDA is proud to partner with New York Attorney General James in this endeavor and we look forward to continuing to support efforts like this to help build vibrant and inclusive communities across New York State. ”

“The Albany Housing Authority works hard every day to improve the quality of life and comfort for our residents. Investing in cost-effective and energy-efficient technologies will transform the well-being of families in Steamboat Square,” said Chiquita D’Arbeau, Executive Director, Albany Housing Authority. “We must continue to pursue green initiatives in historically underserved communities as we look forward to a more sustainable future. I commend Attorney General James and NYSERDA for their partnership and efforts in bringing this initiative to fruition. »

The project is part of revitalization efforts for Steamboat 20, an 88-unit high-rise building in the Steamboat Square complex. The funding will support the purchase and installation of geothermal heat pump systems and other efficiency improvements, including exterior wall and roof insulation, air sealing and installation of heat recovery ventilation and thermostats. This work will be supervised by NYSERDA.

These improvements are expected to save at least 40% energy and reduce pollution due to climate change. At the same time, investments in Steamboat Square will significantly improve resident comfort by providing each apartment with air conditioning and giving each unit control of its own temperature settings, among other benefits. Additional funding of $91,000 will be used for urban greening measures recommended in the October 2019 Albany South End Community Air Quality Study from the Department of Environmental Conservation (DEC) , and may include the planting of trees and other vegetation and the establishment of living walls, green roofs and plant barriers. These measures will improve air quality, reduce local heat islands and improve the natural environment and the well-being of residents of Steamboat Square and the wider South End neighborhood. This work will be implemented by AHA. Funding for this project is provided by NYSERDA’s Multifamily Performance Program, National Grid’s New York State Clean Heat program, and a 2005 settlement the Office of the Attorney General (OAG) obtained against the Ohio Edison Company. The OAG and NYSERDA have since successfully used these funds to implement a larger statewide green and affordable housing project.

The project is expected to be completed by the end of 2023.

“DEC is committed to improving environmental justice communities across the state and it is exciting to see this funding for the South End neighborhood of Albany,” said DEC Commissioner Basil Seggos. “DEC’s Air Quality Study recommendations to coordinate community housing improvements with air quality and greenhouse gas reduction goals were driven by science and community contribution, both of which will be critical to achieving our national climate justice goals. I commend Attorney General James and NYSERDA Chairman Harris for these investments. “I commend Attorney General Letitia James and NYSERDA for partnering with the Albany Housing Authority and for this investment to both improve the quality of life in Steamboat Square and fight climate change,” said Albany Mayor Kathy Sheehan. “This initiative, along with the multi-phase renovation of Steamboat Square, will help ensure that residents of Albany’s South Neighborhood have state-of-the-art homes they can be proud of and that we mitigate our impact on the environment.

“The $1.2 million improvement and investment for the Steamboat Square project shows how our Attorney General Letitia James is working for our most disadvantaged residents,” said Albany City Council Speaker Corey Ellis. “The Attorney General working with NYSERDA will improve energy efficiency for Steamboat Square residents. Attorney General James continues to give a strong voice to those who are sometimes left behind when it comes to new energy investments. Thanks to Letitia James and NYSERDA for being a partner in our Albany community.

“The transition to clean energy must be fair, just and affordable and the Steamboat Square project is an important step in this process which invests cutting-edge technologies in the environmental and social justice communities”, said Rudy Wynter, President of New York, National Grid. “Reducing energy consumption through energy efficiency is an important pillar of National Grid’s clean energy vision, and demonstrating it in this community breaks down a significant barrier as we strive to leave no side community in the energy transition.”

“This project is part of AVillage’s mission to prioritize and amplify the voices and needs of marginalized communities,” said Tabetha Wilson, Chairman of the Board, AVillage, Inc. “Working hard to mitigate the effects of systemic oppression, pollution and blight is a key aspect of improving the health and well-being of South End residents.”

“Our work is rooted in the social determinants of health. This project will change the paradigm for residents who live with a concentration of health disparities, food apartheid, lack of amenities, such as pharmacies, proximity, and a concentration of polluters,” said Eva Bass, Executive Director, AVillage, Inc.. “As we move towards a sustainable future and a new economy of green jobs, we want to walk in step with the community and include them at the forefront of these projects.”

This case is being handled for the OAG by Special Counsel Stephen M. Nagle under the supervision of Environmental Protection Office Chief Lemuel M. Srolovic. The Environmental Protection Bureau is part of the Social Justice Division, which is led by Chief Deputy Attorney General Meghan Faux and overseen by Senior Deputy Attorney General Jennifer Levy.

Ørsted Hires Bason to Lead Delaware Stakeholder Engagement | New

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Ørsted announced a new hire this week that reps say reflects his commitment to community engagement and environmental leadership in Delaware.

Ørsted hired Chris Bason to serve as Stakeholder Engagement Manager in Delaware. Bason, former executive director of the Delaware Center for the Inland Bays (CIB), will be responsible for developing and implementing external engagement strategies in support of Skipjack Wind and will represent Ørsted with local communities, businesses and elected officials.

“During his successful tenure as a nonprofit leader, Chris has consistently demonstrated a deep appreciation for the value of public engagement and community partnerships,” said Brady Walker, Chief Business Officer policies and market strategy for Maryland and Delaware. “Chris is an excellent choice to lead our efforts in Delaware because he shares Ørsted’s commitment to translating the economic and environmental benefits of Skipjack Wind into tangible improvements for Delawareans.”

Prior to joining Ørsted, Bason worked for 18 years at the Delaware Center for the Inland Bays in Sussex County. He served as the organization’s scientific coordinator and then spent 10 years as executive director.

“During his tenure, the Center has grown significantly through successful policy achievements, environmental monitoring, ecological restoration, conservation and fundraising,” representatives said. “Chris led the Center’s development of a comprehensive State of the Bays Report, revised the Comprehensive Inland Bays Conservation and Management Plan, developed legislation to launch Delaware’s shellfish farming industry and has created successful initiatives for land conservation, reforestation, coastal protection and citizen-science involvement.

“How we produce our energy has the greatest impact on the health of our environment,” Bason said. “I share Ørsted’s vision of a world powered entirely by green energy, and am grateful for the unique opportunity to be part of a team bringing a new industry to Delaware.”

Originally from New Castle, Bason has lived in Ocean View since 2004 with his wife and two children. He received a bachelor’s degree in agriculture from the University of Delaware and a master’s degree in biology from East Carolina University. Prior to joining the Center for the Inland Bays, he was involved in wetland research and management while working for the Nature Conservancy, the US Army Corps of Engineers, and East Carolina University.

Skipjack Wind is a 966-megawatt offshore wind project off the Maryland-Delaware coast that officials say will create thousands of local jobs and generate enough clean energy to power nearly 300,000 homes in the region. Learn more about www.skipjackwind.com. Ørsted is the only energy company in the world to have a science-based goal of net zero emissions, as validated by the Science Based Targets initiative. Four years in a row, the company has been ranked the world’s most sustainable energy company by Corporate Knights.

In the United States, the company has approximately 600 employees and a growing portfolio of clean energy assets and partnerships that includes offshore wind power, onshore wind power, solar power, storage technologies and electronic fuels. A leader in the renewable energy sector in the United States, Ørsted is the No. 1 in offshore wind energy with approximately 5 gigawatts in development and operates America’s first offshore wind farm, located off Block Island. Ørsted has a total US onshore capacity of 5 gigawatts across wind, solar, storage and e-fuel technologies. To learn more about Ørsted’s business in the United States, visit us.orsted.com or follow the company on Facebook, Instagram and Twitter (@ØrstedUS).

Nigerian firm says it cannot ship natural gas after floods

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ABUJA, Nigeria — A major Nigerian energy company says it cannot deliver natural gas as promised in its contracts after deadly floods hampered its operations, raising concerns about the ability of Africa’s biggest economy to respond to increased local and international demand during an energy crisis caused by Russia’s war in Ukraine.

Nigeria LNG Limited, or NLNG, declared “force majeure” this week, meaning it is unable to meet its contractual obligations to supply the fuel used around the world to generate electricity, heat homes and operate factories after flooding caused “significant disruption”. gas supply. About 3.8% of global monthly supply could be affected, risking higher prices, Rystad Energy said.

The NLNG is a joint venture between the Nigerian government, which is the majority shareholder, and energy giants including Shell in London and Eni in Italy. With a production capacity of over 20 million tonnes of liquefied natural gas, or LNG, per year, it is the largest gas company in Nigeria, but its production capacity was only 68% due to oil theft and pipeline vandalism that is rampant in the country.

As Europe faces an energy crisis after Russia sharply cut natural gas flows during the war in Ukraine, Nigeria and other African nations have agreed to work to help meet the country’s increased needs. European Union on gas supply. Nigeria has the largest natural gas reserves in Africa, but its ability to meet these demands is in question, even as European storage levels have managed to reach 92% before the winter heating season and the gas prices have recently fallen.

This year’s floods – the worst in a decade – killed more than 600 people, displaced 1.3 million people and “worsened what was already a bad situation” for the national gas company, said Toyin Akinosho, a Nigerian energy consultant.

Floodwaters have also submerged many riverine communities in the oil-rich Niger Delta region, where Nigeria’s crude oil facilities are located, threatening the operation of local and international oil companies. Nigeria is a member of the OPEC oil cartel which produces crude for world markets.

Akinosho expressed doubts about how quickly the disruption could be resolved to allow Nigeria to resume gas shipments to the EU, which gets 14% of its LNG imports from the African nation, as well as other buyers in North America, the Middle East and Asia.

Analysts fear that if the gas supply disruption persists, it could lead to a further drop in government revenue at a time when Nigeria is facing a cash crunch caused by falling crude production over the years. .

Force majeure could “cause NLNG markets to tighten further” ahead of winter as it faces higher gas demand, said Olufola Wusu, an oil and gas expert who was part of a team that helped review Nigeria’s national gas policy.

“Chances are that if we are unable to meet local demand, it is highly unlikely that we will have enough gas to export. And that means some of our customers might have to source LNG from other suppliers,” Wusu said.

A spokesman for Timipre Sylva, Nigeria’s oil minister, declined to comment on the issue, and the gas company did not immediately respond to questions about its options for dealing with the floods.

Statement on the AER report on energy equity

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The supreme body of producers and retailers, the Australian Energy Council, welcomes the release of the Australian Energy Regulator’s Towards Energy Equity report.

Council Executive Director Sarah McNamara said, “AEC members are continually improving their customer support programs, as evidenced by how well they have been able to help customers during COVID.

“But we’re always open to considering what more can be done and retailers support AER’s goals here. We also appreciate that the AER recognizes that an industry-wide response is needed. Broad thinking, which goes beyond the role played by retailers, will allow us to develop solutions that can make a real difference for vulnerable customers.

“Vulnerability is not unique to energy, and the solutions considered must be holistic and economy-wide if we are to achieve greater global equity. It is critical to the continued security of the energy system that those who can afford to pay their bills continue to do so, while we support those who are struggling. The AER framework should only target those who experience genuine vulnerability.

“As the energy system transforms, it is also essential that regulatory frameworks also align with changing customer needs. This includes conversations with governments about the effective delivery of customer assistance, emergency relief, concessions and discounts.

“AEC members are acutely aware that communicating with vulnerable clients is key to helping them. It will therefore be essential to think about the best way to establish a true two-way commitment.

“The AEC has published best practice resources for retailers on how to support vulnerable customers. The AER has recognized this work as a useful tool to build on to ensure retailers can establish improved and effective relationships to support every customer, regardless of their individual needs,” said Ms. McNamara.

Resources are available here.

/Public release. This material from the original organization/authors may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the author or authors. See in full here.

Delta Creates All-New LEED Gold Certified Green Building at Helmond Automotive Campus with Smart Green Solutions

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HELMOND, Netherlands, October 19, 2022 /PRNewswire/ — Delta, a leading global provider of energy and heat management solutions, today opened a new facility at the Automotive Campus in Helmond, Netherlands, to support the expansion of its industrial automation, industrial power supply and automotive business development, product testing and technical service businesses in Europe, the Middle East and Africa (EMEA). Through the implementation of Delta’s smart energy-saving solutions and innovative green design, the new 4,055 square meter facility is expected to consume 56.84% less electricity annually than traditional buildings.[1]. In recognition of these efforts, the Delta Helmond office, which will eventually house more than 150 employees and further consolidate Delta’s industry-leading e-mobility capabilities, has been awarded a LEED Gold Green Building Certificate by the US Green Building Council.

Ping Cheng, Chairman and CEO of Delta Electronics Inc., said, “Guided by its corporate mission, ‘to provide innovative, clean and energy-efficient solutions for a better tomorrow,’ Delta has long recognized the conservation of energy, green buildings and e-mobility as essential to help alleviate global energy crises. With this Helmond facility, we have now created 32 Delta Green Buildings around the world. Additionally, the commitment to Delta’s long term to help humanity reduce its dependence on fossil fuels and its carbon footprint is reflected in the 35.9 billion kWh of electricity saved for our customers worldwide through Delta’s high-efficiency solutions between 2010 and 2021, our RE100 commitment to run 100% on green electricity by 2030, as well as our unique e-mobility milestones, in which Delta becomes one of the leading suppliers of powertrains and automotive electronics to the world’s largest electric vehicle manufacturers, while also having shipped more than 1.5 million electric vehicle chargers globally over the last decade of.”

The new office building is located on the dynamic automotive campus in Helmond (near Eindhoven), recognized as an international hotspot for companies in the automotive sector. “Everything on the Automotive Campus revolves around innovation and technology, and that’s why we feel at home here,” said Dalip Sharma, President and CEO of Delta Electronics EMEA. He added: “Delta invests more than 8% of its annual revenue in R&D, and we have 72 R&D centers around the world in which more than 9,000 engineers, with 15 R&D centers and almost a thousand engineers in the EMEA region, develop next-generation solutions to promote sustainable development. Together with the Brainport-area Automotive Campus, it benefits from world-class technical training and collaborative knowledge exchange between companies, making it the ideal environment to develop talent in the field of electronics. -mobility, industrial automation and industrial power supplies, areas in which Delta EMEA is precisely focused and whose track record is growing.”

Showcase of Delta’s smart green solutions

The new green building in Helmond is a showcase for Delta’s growing portfolio of smart energy-saving products and solutions:

  • Building automation solutions: The Energy Online building energy management system constantly monitors energy consumption at the premises, while sensors and controllers from Austrian company Loytec and Canadian company Delta Controls, two Delta Group companies, help HVAC and lighting systems automatically adjust to the number of people in specific areas of the building. Delta’s UNONext indoor air quality monitoring systems also support the Helmond office. Building access control monitoring is facilitated by systems from Delta’s VIVOTEK subsidiary, including fisheye network cameras as well as people counting cameras. In the parking area, a license plate recognition system and LED street lights from Delta are also installed for optimal safety.
  • Smart energy solutions: A 133 kW solar photovoltaic system with Delta’s high-efficiency M70A series photovoltaic inverters and 360 solar panels generates renewable electricity for the Helmond Building, sufficient to achieve net-zero energy status on sunny days.
  • EV charging solutions: Visitors and employees can also charge their electric vehicles with Delta’s own DC and AC EV fast chargers, including the AC Max, which offers up to 22kW of AC power output, along with a compact design, aesthetically pleasing and easy to install, making it ideal for both commercial and residential applications.

Acceleration of the EMEA market Development

Covering an area of ​​approximately 4,055 square meters, the new building is more than three times larger than the former Delta site in Eindhoven. The building contains offices and also facilities to test and maintain equipment. A showroom is located at the main entrance, where visitors can see the wide range of solutions offered by Delta.

Together with the EMEA headquarters in Hoofddorp, this new site is expected to play a key role in Delta Electronics’ continued growth in EMEA, focusing on industrial automation, industrial power and power solutions. automobile industry.

With the office located in the premier technology innovation hotspot for industry and mobility, Delta fits perfectly into the ecosystem and anticipates that new business partnerships will develop there. Its presence on the automotive campus will facilitate knowledge sharing and initiate joint R&D programs with students from local universities such as Technical University of Eindhoven and Fontys Hogeschool. Eventually, approximately 150 people will work at the Helmond site, while creating attractive employment opportunities for students in the region.

Note 1. Calculation based on ASHRAE 90.1-2010 Appendix G baseline.

About Delta

Delta, founded in 1971, is a global leader in switch-mode power supplies and thermal management products with a thriving portfolio of intelligent energy-saving systems and solutions in the fields of industrial automation, process automation buildings, telecommunications power, data center infrastructure, electric vehicle charging, renewable energy, energy storage and display, to foster the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, “To provide innovative, clean and energy-efficient solutions for a better future”, Delta leverages its core competency in high-efficiency power electronics and its CSR-integrated business model to address key environmental issues, such as climate change. Delta serves its customers through sales offices, R&D centers and manufacturing facilities in nearly 200 locations on 5 continents.

Throughout its history, Delta has received various global awards and accolades for its business achievements, innovative technologies and dedication to CSR. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability Indices™ (DJSI) for 11 consecutive years. In 2021, Delta was also recognized by CDP with Leadership Level ratings for its substantial contribution to climate change and water security issues and named a Leader in Supplier Engagement for its continued development of a sustainable value chain.

For detailed information about Delta, visit: www.delta-emea.com.

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Sunnova Energy International (NOVA) will release its quarterly results on Wednesday

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Sunnova Energy International (NYSE: NOVA – Get a rating) is expected to release its quarterly earnings data after the market closes on Wednesday, October 26. Analysts expect the company to report earnings of ($0.27) per share for the quarter. Investors wishing to register for the company’s conference call can do so using this link.

Sunnova Energy International (NYSE: NOVA – Get a rating) last reported quarterly earnings data on Wednesday, July 27. The company reported ($0.32) EPS for the quarter, meeting analyst consensus estimates of ($0.32). Sunnova Energy International recorded a negative net margin of 32.41% and a negative return on equity of 8.70%. The company posted revenue of $147.01 million in the quarter, versus a consensus estimate of $86.90 million. In the same quarter of the previous year, the company achieved EPS of ($0.42). Sunnova Energy International’s quarterly revenue increased 120.9% year over year. On average, analysts expect Sunnova Energy International to post EPS of -$1 for the current fiscal year and EPS of -$1 for the next fiscal year.

Sunnova Energy International Stock Performance

NYSE: NOVA opened at $17.64 on Wednesday. Sunnova Energy International has a 12-month low of $12.47 and a 12-month high of $46.40. The company has a market capitalization of $2.02 billion, a P/E ratio of -17.64 and a beta of 2.25. The company has a 50-day moving average price of $24.57 and a two-hundred-day moving average price of $21.53. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt ratio of 2.45.

Insider Buying and Selling at Sunnova Energy International

In related news, insider Kelsey Hultberg sold 2,000 shares in a trade that took place on Friday, August 5. The stock was sold at an average price of $28.00, for a total value of $56,000.00. Following the transaction, the insider now owns 15,493 shares of the company, valued at $433,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. In other Sunnova Energy International news, insider William J. Berger sold 150,000 shares of Sunnova Energy International in a trade on Monday August 8th. The stock was sold at an average price of $30.04, for a total transaction of $4,506,000.00. Following the completion of the transaction, the insider now directly owns 301,142 shares of the company, valued at $9,046,305.68. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, insider Kelsey Hultberg sold 2,000 shares of the company in a trade on Friday, August 5. The shares were sold at an average price of $28.00, for a total value of $56,000.00. Following the completion of the sale, the insider now owns 15,493 shares of the company, valued at $433,804. Disclosure of this sale can be found here. In the past three months, insiders have sold 155,326 shares of the company valued at $4,644,446. 4.20% of the shares are held by insiders.

Hedge funds weigh on Sunnova Energy International

Several institutional investors have recently changed their stake in the company. Captrust Financial Advisors increased its stake in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company valued at $34,000 after buying 1,045 additional shares in the last quarter. US Bancorp DE increased its stake in Sunnova Energy International by 168.8% during the first quarter. US Bancorp DE now owns 2,809 shares of the company worth $65,000 after purchasing an additional 1,764 shares during the period. First Republic Investment Management Inc. increased its stake in Sunnova Energy International by 9.1% during the second quarter. First Republic Investment Management Inc. now owns 13,052 shares of the company worth $241,000 after purchasing an additional 1,094 shares during the period. Prudential Financial Inc. acquired a new stake in Sunnova Energy International in the first quarter valued at approximately $315,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Sunnova Energy International by 23.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company valued at $387,000 after buying 907 additional shares in the last quarter.

Analysts set new price targets

NOVA has been the subject of several analyst reports. Wells Fargo & Company raised its price target on Sunnova Energy International shares from $22.00 to $27.00 and gave the company an “equal weight” rating in a Wednesday, Aug. 3 report. Piper Sandler downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $27.00 to $23.00 in a Tuesday, July 19 research note . Guggenheim cut its target price on Sunnova Energy International from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday. Susquehanna Bancshares launched coverage on Sunnova Energy International in a research note on Monday. They set a “positive” rating and a target price of $38.00 for the business. Finally, JPMorgan Chase & Co. raised its price target on Sunnova Energy International from $43.00 to $54.00 and gave the company an “overweight” rating in a Monday, August 8 report. Three investment analysts gave the stock a hold rating, eleven issued a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Sunnova Energy International Company Profile

(Get a rating)

Sunnova Energy International Inc provides residential energy services in the United States. The company offers power, as well as operation and maintenance, monitoring, repair and replacement, equipment upgrade, on-site power optimization and diagnostic services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generating capacity of approximately 1,140 megawatts serving more than 195,000 customers.

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Earnings history of Sunnova Energy International (NYSE: NOVA)

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Sponsored: How to Better Manage Buildings and Energy with Cloud-Based Applications

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Organizations in all sectors – from education and government to healthcare, hospitality, retail and industry – are increasingly recognizing that the performance of their buildings has a direct relationship with their overall operational performance. Meeting the business goals of today and tomorrow requires making your facilities more sustainable, efficient, resilient and people-centric.

The digitization of electrical distribution and HVAC infrastructure gave facility teams the data, information and control to achieve these results. But you may not have the necessary budget for energy and power management (EPMS) and building management software (BMS) and hardware, or the people and expertise to take full advantage of them. This can be particularly difficult if your team manages a large portfolio of buildings. Fortunately, a new generation of cloud-based EPMS and BMS applications can help you meet this challenge.

Digitize your buildings

EPMS and BMS applications transform “big data” from networked IoT-enabled devices into actionable information for better-informed decisions, more responsive installation teams, and more efficient automated actions. These and other applications are also increasingly integrated, allowing you to achieve a range of business goals, such as the ability to:

  • Manage energy more efficiently to improve efficiency, reduce costs and comply with new standards.
  • Use predictive maintenance to reduce costs and get the most out of your equipment.
  • Adapt the workplace changing needs, based on actual usage and workforce.
  • Improve building health with space management based on real-time occupancy data and HVAC control based on temperature, humidity and air quality data.
  • Increase resilience by getting early warning of risks for power distribution and HVAC, isolating root causes faster, and more.
  • Use mobile access to personnel to perform construction operations remotely, while improving efficiency and collaboration.

However, you may continue to face a workforce challenge as experienced people retire or your workforce is reduced. Your facility manager(s) may also be overworked with an increasing number of responsibilities, including workplace safety. If you can hire new people, the new generation of less experienced professionals will expect access to digital diagnostic tools. Finally, at a time when your organization is trying to find ways to reduce operational costs, the purchase and maintenance of EPMS and BMS systems at each site (including the necessary IT support) may simply not be affordable. You need a way to overcome these resource and budget constraints.

Take advantage of the cloud

Traditional on-premises EPMS and BMS are highly connected systems, with many types of devices and equipment sending data to a central data server and software. For example, IoT compatible smart meters, circuit breakers, and other energy assets connect to a power management application that provides facility-wide monitoring, analytics, and alarming. Sensors, meters, controls and BMS systems connect to automation servers running automated control logic, logging and alarms. These, in turn, connect to a corporate server that aggregates data and provides centralized configuration, control, and monitoring.

Cloud-hosted applications are becoming more common every day, from banking to e-commerce. Recent advancements in the reliability of internet and cloud servers have made this possible. This now extends to energy and building management functions.

Although time-critical and time-sensitive EPMS and BMS functionality should remain on-site to ensure the best reliability and responsiveness (eg. electrical protection, high-speed data collection, building control), less time-critical or non-critical EPMS and BMS functionality can be elevated to the cloud. This can include alarm management and analysis for non-critical sites, global BMS monitoring (e.g. holiday schedules, global setpoints, etc.), and cloud-based data storage for simplify engagement with contracted services. For these functions, data is uploaded and shared through cyber-secure gateways.

Reduce costs while increasing resiliency

Cloud-hosted EPMS and BMS means there is no need to host a computer, server and software on-site. Cloud-hosted services are typically purchased on a monthly subscription basis, including the gateway, which means the solutions become an OpEx cost instead of CapEx. With this model, you avoid the cost of onsite IT support. And being cloud-based, all apps are automatically updated and upgraded by the provider. These platforms are usually very modular, which makes it easy to add features or services.

A facility’s EPMS and BMS data is also safer in the cloud, thanks to best-in-class cybersecurity from leading cloud providers. Your data will be offsite and automatically backed up, maximizing resiliency. And you don’t have to worry about owning an aging computer that needs replacing or software that hasn’t been updated with the latest cybersecurity patch. The secure cloud connection is constantly monitored for threats, with fully managed virus protection.

Extend reach to every stakeholder and every building

With cloud-based applications, data access is simplified, as there is no need for IT-supported VPN connections to on-premises servers. IoT architectures also make it easy to use mobile technologies, including 4G and 5G today, and low-power WAN technologies tomorrow.

A cloud platform offers much greater flexibility in terms of scalability. New construction sites can be added quickly and easily, creating a single enterprise-wide repository of data with easy access to multiple facility views, building-to-building, performance comparisons, and more. Additionally, a cloud-based solution provides easier centralized user management, including role-based access rights for C-level management, facility personnel, and contractors.

Connect to expert services

Once EPMS and BMS data and functionality is in the cloud, this opens the door to Advisory Services which you can take advantage of when your internal resources are stretched. The services combine cloud-based analysis tools with expert teams experienced in power and building management. It can help you offload some responsibilities, with flexible services that can meet your needs and grow with you.

For example, a team of advisors can assist with preventative maintenance by helping coordinate schedules and contractors for equipment maintenance or go beyond by using advanced analytics to support predictive maintenance based on data. state that reduces costs and predicts breakdowns to avoid downtime. 24/7 remote monitoring helps identify risks and find opportunities to further reduce costs. Detailed audits and reports will include all relevant key performance indicators that help flag and isolate equipment degradation, and support consultation on improvements and upgrades.

Engaging expert advisory services can be more cost effective than employing on-site staff for specialized tasks. The service provider complements your existing facility team, without the long-term commitment of having a permanent employee.

To learn more about this topic, see our whitepaper “Doing more with less: moving energy and building management to the cloud.”

Schneider Electric offers a range of cloud-based solutions EcoStruxure Power and EcoStruxure Building particularly powerful applications and consulting services for companies that own or manage large portfolios of small and medium-sized installations.

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Shell moves to next tender for Danish biogas producer Nature Energy – sources

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  • Shell among a number of companies in second-round talks
  • Nature Energy valued at around $2 billion – sources

LONDON, Oct 18 (Reuters) – Shell (SHEL.L) is among a number of companies joining a second tender to acquire Danish biogas producer Nature Energy, three sources familiar with the news said. dossier, as energy companies rush to boost low-carbon emissions. businesses.

The sale is expected to close by the end of this year and could value Nature Energy at around $2 billion, the sources said.

It comes amid growing interest in biogas, which is produced from agricultural waste and other biological waste and could replace some of the fossil fuels that keep the world’s major economies running.

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BP (BP.L) agreed on Monday to buy US renewable natural gas producer Archaea Energy Inc (LFG.N) for about $4.1 billion. It aims to increase its production fivefold by 2030.

Nature Energy accepted initial bids for the second round of auctions in the last week of September, two sources told Reuters.

It was unclear which other companies besides Shell made it to the second round of bidding.

Shell declined to comment. Nature Energy declined to comment.

JP Morgan is leading the sale of current owners of Nature Energy, asset manager Davidson Kempner, European private equity fund Pioneer Point Partners and Danish pension fund Sampension.

JP Morgan declined to comment.

Nature Energy operates 12 biogas plants in Denmark and one in France and has more in the pipeline, according to its website. It plans to treat 4.4 million tonnes of waste in 2022 and transform it into 181 million cubic meters of green gas, which can be used for transport or domestic heating.

BP (BP.L) and Repsol (REP.MC) also considered offers for the company, but both dropped out, two people familiar with the matter said.

Hong Kong’s CK Infrastructure Holdings (1038.HK) also worked on a bid but did not make it to the second round, two sources said.

BP, Repsol and CK Infrastructure Holdings did not immediately respond to requests for comment.

The rush for alternative fuels took on new urgency this year as Russia’s invasion of Ukraine drove up the price of natural gas and exposed import-dependent Europe’s vulnerability to supply disruptions.

Shell is already a customer of Nature Energy, having signed on in 2020 to buy some of its biomethane, a product that still depends on government support and has yet to see the breakthroughs in technology and scale seen in wind power. and solar.

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Reporting by Ron Bousso and Isla Binnie; Editing by Susan Fenton

Our standards: The Thomson Reuters Trust Principles.

Defense and national security – US accuses Iran of lying about drones in Ukraine

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The Biden administration is trading diplomatic fire with Iran over allegations that Tehran’s drones are playing an increasingly deadly role in Russia’s war on Ukraine.

We’ll share the latest updates on the Ukraine-Russia war, as well as a new survey of veterans who show up mid-term.

It’s Defense and National Security, your nightly guide to the latest developments at the Pentagon, Capitol Hill and beyond. For The Hill, I’m Colin Meyn. A friend sent you this newsletter? Subscribe here.

White House: “Iran continues to lie” on drones

The Biden administration says Iranian denials that it supplied military equipment to Russia are a lie, following deadly Russian strikes in Kyiv on Monday that Ukrainian officials say came from Iranian drones.

White House press secretary Karine Jean-Pierre said reports from Kyiv appeared to document an Iranian Shahed-136 UAV hit the town.

  • “We have been warning since July…that Iran was planning to sell drones [Unmanned Aerial Vehicles] in Russia for use against Ukraine… There is ample evidence of their use by Russia against military and civilian targets there,” Jean-Pierre told reporters on Monday.
  • “You all also saw the news this morning about what appears to be an Iranian drone strike in downtown Kyiv, but Iran continues to lie about it,” she continued.
  • “They have not told the truth about this and deny supplying weapons to Russia for use in Ukraine. Meanwhile, according to these new reports, Iran is planning to sell more destructive weapons to support a invasion he claims to oppose,” she added.

Victims: At least four people were killed in morning strikes on Kyiv that targeted infrastructure and buildings, Ukrainian officials said. Among the dead were a six-month-pregnant woman and her husband, Kyiv Mayor Vitali Klitschko wrote on Telegram. Rescue teams search the rubble for other victims.

Iran’s claims: Iranian Foreign Ministry spokesman Nasser Kanaani on Monday denied that Iran was supplying drones to Russia. “Reports about Iran supplying drones to Russia have political ambitions and are disseminated by Western sources. We have not supplied arms to any part of the countries at war,” he told a news conference, according to Reuters.

New penalty: Jean-Pierre said the administration would “continue to vigorously enforce U.S. sanctions on the Russian and Iranian arms trade.” And the administration is reportedly preparing sanctions targeting Iranian military sales, according to Politico, but with measures likely to target specific individuals rather than the Iranian regime.

Read Laura Kelly’s full story here

Russia bombs Ukraine’s energy grid

Russia is stepping up its attacks on Ukraine’s civilian infrastructure, taking a hit on the country’s energy system as Ukrainian officials warn that a harsh winter in the country is looming.

Recent strikes in central and northern Ukraine damaged energy infrastructure, public network operator Ukrenergo reported on Telegram, according to translations, and an attack on Saturday severely damaged a major power plant near Kyiv.

“Due to the terror of Russian missiles in some cities and regions of Ukraine, energy workers have to limit the supply of electricity so that the whole system works stably. But it will be possible to avoid such stabilization blackouts if all of us in Ukraine consciously deal with our consumption during peak hours,” Ukrainian President Volodymyr Zelensky said in a video address on Sunday.

Scale of attacks: Ukrainian Energy Minister Herman Halushchenko told CNN in an interview last week that Russia hit about 30% of the country’s energy infrastructure in just two days.

  • Vitali Klitschko, the mayor of Kyiv, said on Telegram that Russia fired 28 explosive suicide bombers at the capital in Monday’s strikes alone.
  • The Russian Defense Ministry reportedly said on Monday that it had hit “all designated targets” in its latest series of attacks, according to Reuters.

Difficult winter: Ukraine’s energy system has so far been resilient and Ukrainian troops have maintained their successful counter-offensive effort, but Zelensky has long predicted that the winter season will be a significant challenge for the civilian population and for the war effort.

In a call with President Biden earlier this month, Zelensky “highlighted that recent large-scale damage to critical energy infrastructure poses serious challenges ahead of next winter and the start of the heating season,” according to a report. updating his office.

Read Julia Mueller’s full report here.

1 in 5 midterm candidates is a veteran

Just over 20% of candidates in the 2022 midterm elections have some military experience, the majority of which are men and nearly two-thirds are Republicans.

That’s according to new research by the Pew Research Center of the nearly 1,000 candidates vying for Congress or governor across the country.

Although veterans apparently make up a large portion of the candidates this campaign season, the share of veterans in Congress has declined significantly since its peak in the 1960s and 1970s. By 1967, 75% of House representatives had served in the army and in 1975, 81% of senators were veterans.

A Pew survey conducted in the summer of 2022 found that 53% of registered voters liked political leaders with military experience, while men and Republicans were more likely to view such candidates favorably.

Far-right opinions: In the past, it was also thought that electing a candidate with a military background could help foster bipartisanship and cooperation. However, many veterans running in the 2022 elections hold far-right ideologies, despite being largely anti-interventionist when it comes to foreign policy — a traditionally Democratic view.

Female veterans: Women make up less than 1 in 10 candidates with military experience in each chamber, as 16 of the 191 veterans running for the House this year are women. Sen. Tammy Duckworth (D-Ill.) is the only female veteran to run for a Senate seat this year.

Read Gianna Melillo’s full story here.

THE APPOINTMENT FOR TOMORROW

  • The Center for Strategic and International Studies will host the event “Is Iran on the brink? at 1:30 p.m.
  • The Heritage Foundation will host a show on “The Diminished State of Today’s Army” at 10 a.m.
  • The German Marshall Fund will host a discussion with Estonian Defense Minister Hanno Pevkur at 11:30 a.m.

WHAT WE READ

That’s all for today! Check out The Hill’s Defense and National Security pages for the latest coverage. Until tomorrow!

How the energy crisis of the 1970s spurred innovation

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The 1973 Arab oil embargo knocked the United States’ economy on its toes, causing fuel shortages, a quadrupling of oil prices, and long lines at gas stations. Several legacies of the resulting energy crisis have persisted decades later.

The spark for the embargo was the Yom Kippur War in October 1973, when a coalition of Arab states led by Egypt and Syria launched a surprise attack on Israel on the holiest day of the Jewish calendar. During this war, the Soviet Union resupplied its allies Egypt and Syria, and the United States responded with a massive airlift of supplies to aid Israel.

Members of the Organization of Arab Petroleum Exporting Countries (OAPEC) retaliated with an oil embargo against the United States and the Netherlands, Israel’s main supporters at the time. The resulting shock to the US economy has proven to be a thorny issue for US consumers and a string of US presidents, who have struggled to adjust. But it has also led to significant changes in energy efficiency, policy making and building design.

WATCH VIDEO: First demonstration of solar energy

The Ministry of Energy is created

In an April 1977 speech, new President Jimmy Carter proposed the creation of the Department of Energy, one of several policy changes he announced aimed at meeting the challenge of a dramatically changed energy landscape.

“The energy crisis hasn’t overwhelmed us yet, but it will if we don’t act quickly,” the Democratic president said in an address to the nation “…Consumers and producers need policies on which they can count so they can plan ahead. That’s one of the reasons I’m working with Congress to create a new Department of Energy, to replace more than 50 different agencies that now have some control over energy.

Later that year, Carter signed into law the Department of Energy Organization Act of 1977. The new agency brought federal energy programs under one roof and “provided the framework for a comprehensive and balanced national energy plan,” as the department noted in an online post. the story.

The Department of Energy has placed the US government in a better position to coordinate federal policy in the face of the energy crisis. The department is also home to the Office of Nuclear Energy.

Technological advances for energy-saving windows

In the 1970s, the Department of Energy funded research to create low-emissivity window coverings, which are now found on many clear glass buildings. Low-E coatings were a direct response to the energy crisis.

The Lawrence Berkeley National Lab, a national laboratory of the Department of Energy Office of Science operated by the University of California, has worked with the window industry to come up with energy-efficient windows. The new coatings have proven effective in preventing interior temperatures from overheating in the summer and retaining heat in the winter.

More than half of window sales in the commercial market and 80% of sales in the residential market incorporate low-e coatings, according to the Department of Energy, which says the technology can reduce energy consumption by up to at 40%.

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A physicist named Steve Selkowitz helped make this possible.

“The concept and some of the materials and patents were already there,” Selkowitz said. “But the theory had to be put into practice – moving from a good idea to viable products and production processes that could be deployed on a large scale to save large amounts of energy at affordable costs.”

According to the National Academy of Sciences, switching to low-e windows has saved consumers billions of dollars.

There have been a host of other technological improvements for everyday use, such as advances in energy efficient lamps and bulbs.

Lowered thermostats, White House solar panels

President Jimmy Carter speaking in front of solar panels placed on the roof of the West Wing of the White House, announcing his solar energy policy on June 20, 1979.

The energy crisis has also forced US presidents to make energy efficiency and conservation national priorities. Just two months after taking office, President Gerald Ford delivered an address to Congress on October 8, 1974, outlining his plan to fight inflation, which he dubbed Whip Inflation Now, or WIN. His message included urging Americans to save energy.

“To help save scarce fuel in the energy crisis, drive less, run less,” Ford said.

During a fireside chat in December 1977, Carter wore a cardigan and urged people to keep their thermostats at 65 during the day and 55 at night to help alleviate a winter shortage of natural gas.

In his April 1977 speech, Carter warned of possible “national catastrophe” unless Americans were willing to make sacrifices that involved reducing energy use.

“With the exception of war prevention, this is the greatest challenge our country will face in our lifetime,” Carter said.

Carter also took symbolic steps like installing solar panels atop the West Wing of the White House in 1979. Many experts agree that Carter was ahead of his time in focusing on solar energy. renewable and clean.

“In a generation,” Carter said, “this solar water heater may be either a curiosity, a museum piece, an example of a road not traveled, or a small part of one of the largest and most exciting adventures never before undertaken by the American people – harnessing the power of the sun to enrich our lives as we move away from our crippling dependence on foreign oil.”

All you need to know

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Electric motors have far fewer moving parts than internal combustion engines. This means that electric cars often require far less maintenance (and can be cheaper to run) than their gas-powered counterparts. However, electric vehicles require regular maintenance.

This includes familiar tasks such as rotating tires, changing various fluids, and replacing cabin air filters. There are also a number of EV-specific services that drivers of these battery electric vehicles need to be familiar with.

Battery maintenance

The US National Renewable Energy Laboratory predicts that today’s EV batteries will last between 12 and 15 years if used in temperate climates. This drops to between 8 and 12 years with regular use in extreme environments.

Either way, EV batteries require virtually no maintenance throughout their lifespan. That said, there are a number of things drivers can do to extend the life of their EV battery.

Avoid extreme temperatures

Extreme temperatures (hot and cold) are Kryptonite for batteries. Automakers take this into account in the development of their electric vehicles, equipping them with the necessary auxiliary cooling and heating systems to help keep battery temperatures within acceptable levels.

electrify US charging stations

Electrifying America

Don’t plan to use fast chargers all the time

Despite their ease of fast charging, fast chargers degrade batteries at a faster rate than slower 120 or 240 volt charging. However, the impact of fast charging on battery life is not precisely known in these relatively early days of modern electric vehicles. Of course, in a road trip scenario, fast charging is necessary and there’s no reason to avoid it. But buying an electric vehicle with the plan to use fast charging exclusively is not a good idea, both from a battery life perspective and from a cost perspective. Fast charging costs three to four times more per kilowatt-hour of energy than what you pay at home, a price that can bring the cost of refueling electric vehicles on par with gasoline-powered vehicles. For example, we found that it’s possible to pay $100 to quickly charge a Hummer EV from empty to full.

Try not to fully charge or drain the battery

Batteries degrade faster when charged to full capacity or when they are depleted of all their energy. On the plus side, many manufacturers prevent full-capacity charging to help combat battery degradation. Most cars have settings to charge less than 100%, and many car manufacturers suggest charging to 85 or 90% for everyday use.

motor city wiper assist

Maintenance of electric vehicles vs gasoline cars

The conversion of electricity into mechanical energy creates heat, and like gasoline-powered cars, EVs need to cool their powertrain components to make sure everything keeps running as it should. Some use air to do this, while others use some form of coolant or refrigerant to keep components from overheating.

Check cooling system and wiper fluid

For electric vehicles that use coolant or the like, it may be necessary to flush or recharge the system periodically. The Ford Mustang Mach-E and Lightning F-150 Owner’s manuals recommend checking the integrity of the cooling system hoses, as well as the level and resistance of the cooling system, every six months. During this time, the Porsche Taycan The owner’s manual recommends checking coolant levels as part of routine car maintenance.

Regardless of what powers your car, you will need to regularly top up your windshield washer fluid. The same goes for replacing windshield wipers.

old and new disc brake pads

Getty Images

Keep an eye on brake fluid and pads

Likewise, electric vehicles and gas-powered cars rely on brake fluid to modulate their binders. Flushing and replacing this fluid at regular intervals is a necessary service, regardless of your vehicle’s powertrain. Although replacement times vary by vehicle and manufacturer, Ford recommends replacing brake fluid in the Mach-E and Lightning every three years.

Brake pads are also something EV drivers need to watch out for. The good news is that an electric vehicle should eat up pads and rotors at a much slower rate than a gas-powered car. Credit the regenerative braking feature of electric motors, which allows the motor to slow the vehicle down by recovering its kinetic energy (and then feeding that energy back into the battery). Although electric vehicles still rely on their mechanical brakes, they tend to use them less often, which reduces wear on pads and rotors.

The fact that the brakes are not exercised as much on an electric vehicle is exactly why Tesla’s maintenance schedule includes lubricating the brake calipers every 12 months or 12,500 miles in areas that use salt to melt snow and ice. This service cost us about $100 each time, about the money of an oil change on a gas car, on our long term Model 3.

Tire wear

Maybe this one is a bit obvious, but yes, you still need to replace your EV tires. In fact, you may even need to replace them more frequently. Part of the blame goes to the added weight of EVs (batteries are heavy).

The Michelin Primacy MXM4 tires on our long-term Tesla Model 3, for example, have a lower tread depth than typical all-season tires. We believe this is to help increase the range figure. But this decreases the life of these all-season tires. The ones fitted to our Model 3 had to be replaced after 30,000 miles and cost us $1,157.

toyota prius premium 2021

Toyota

Maintenance of electric vehicles compared to hybrids and plug-in hybrids

Since hybrid and plug-in hybrid cars have gasoline engines on board, their maintenance routines are closer to those of a gasoline-powered car than an electric vehicle. Nevertheless, the electric motors of these vehicles allow them to slow down thanks to regenerative braking. This means that the brake discs and pads of hybrid and plug-in hybrid vehicles tend to have a longer lifespan than those of gasoline-powered cars.

Malaysia’s extraordinary financial scandal and the Hollywood blockbuster it allegedly financed

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Leonardo DiCaprio.

Photo: Gareth Cattermole/Getty Images

  • Leonardo DiCaprio was called as a witness in a money laundering trial.
  • The trial of rapper Fugees Prakazrel “Pras” Michel begins in March 2023.
  • We take a look at the rapper and actor’s ties to Malaysia’s infamous 1MDB bribery scandal.
  • The scam reportedly saw senior Malaysian officials use looted funds to buy a $250million yacht, several paintings and finance a major Hollywood film.

Malaysia’s extraordinary 1MDB corruption scandal reportedly saw top officials loot billions from state coffers and embark on a global spending spree, buying a $250 million yacht, several paintings and funding the hollywood blockbuster, the wolf of Wall Street.

Najib Razak, then prime minister whose 12-year prison sentence was upheld earlier this year by the country’s highest court, played a key role in the looting of the sovereign wealth fund 1Malaysia Development Berhad (1MDB).

He was convicted in July 2020 in his first fraud-related bribery trial and sentenced.

A court of appeal last December rejected his appeal, prompting him to mount a final plea before the Federal Court, whose decision is final.

Chief Justice Maimun Tuan Mat has issued a warrant of committal, which a lawyer says means Najib is going to jail immediately.

What is 1MDB?

1MDB was a public investment fund that Najib launched in 2009 shortly after becoming prime minister.

Its portfolio included power plants and other energy assets in Malaysia and the Middle East, as well as real estate in Kuala Lumpur.

The fund was closely supervised by Najib.

Whistleblowers say Low Taek Jho, a Malaysian jet-set financier close to Najib but without a formal position, helped set up 1MDB and made key financial decisions.

Concerns intensified in 2014 when 1MDB slipped into an $11 billion debt hole and heightened public scrutiny revealed missing funds.

The scandal was first revealed via the Sarawak Report news portal and gained traction in 2015 when the Wall Street Journal published documents showing that Najib had received at least $681 million in payments to his bank accounts. personal.

Leonardo DiCaprio called as a witness

The US Department of Justice has launched its own investigation after claiming stolen Malaysian public money was laundered through the US financial system. He sued for some $1.8 billion in assets allegedly purchased with the money.

The department said more than $4.5 billion was stolen from 1MDB between 2009 and 2015 by high-level fund officials and their associates.

Tens of millions of dollars were used in 2012 by Najib’s son-in-law, Riza Aziz, an aspiring film producer, to finance the Hollywood film. the wolf of Wall Streetwith Leonardo DiCaprio.

The actor has since been called as a witness in the trial of rapper Fugees Prakazrel “Pras” Michel.

The rapper, along with Malaysian businessman Low Taek Jho, also known as Jho Low, allegedly conspired to funnel more than $21 million in illegal foreign campaign contributions into the former’s 2012 campaign. President Barack Obama. Additionally, both were indicted for allegedly ‘orchestrating an unrecorded side channel campaign’ to influence then-President Donald Trump’s administration to drop a federal investigation of Low and others into the hijacking. money from 1MDB. Michel – whose trial begins in March 2023 – and Low have denied the allegations, E ! New reports.

Having ties to Low, Leonardo DiCaprio was listed as one of the Justice Department’s proposed witnesses in the case.

Leonardo DiCaprio

Leonardo DiCaprio is seen on the set of ‘The Wolf of Wall Street’ on September 24, 2012 in New York City.

Not only has the actor starred in the wolf of Wall Streetbut prosecutors also decided to seize a Picasso painting of the star which they say was purchased with $3.2 million in stolen funds and given to him by a Low’s associate, according to the Washington Post.

The Leonardo DiCaprio Foundation, however, said the actor “first learned from press reports of the government’s civil action against some of the parties involved in the making of the wolf of Wall Streetand that he “immediately” instructed his representatives to contact the Department of Justice to determine whether he or his foundation “had ever received any charitable gifts or donations directly or indirectly related to these parties and, if so, , to return such gifts or donations as soon as possible”.

In 2017, the star reportedly initiated proceedings to transfer ownership of the painting to the US government; he also returned Marlon Brando’s Oscar, given to him by Red Granite, the production company that made the wolf of Wall Street“to thank him for his work” on the film, by Reuters.

Red Granite has also reached an agreement to pay $60 million to the US government to resolve allegations that it profited from the corruption scandal, Variety reports.

Meanwhile, hundreds of millions have been used, mostly by Riza and Low, to buy high-end real estate in Beverly Hills, New York and London.

A painting by Monet was bought for $35 million, a Van Gogh for $5.5 million, a Bombardier plane for $35 million, a $100 million stake in EMI Music Publishing and a yacht for $250 million dollars were also checked off the shopping list.

Charge an electric vehicle in 10 minutes, make construction greener and become positive for nature

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This week Current climatewhich every Saturday brings you the latest in sustainability business. Sign up to receive it in your inbox every week.

Je World Wide Fund for Nature released its annual Living Planet report this week, and things aren’t looking good. The bottom line? Since the 1970s, most wildlife species have fallen to a third of their numbers half a century ago. Freshwater species have been particularly affected, with their numbers declining by an average of 83% for all species. Common culprits include climate change, pollution, non-native invasive species and overfishing, but the report also highlights changes in land and air management that also impact wildlife. According to the organization, reversing the tide begins with reversing development trends.

“We need positive nature by 2030 – which, in simple terms, means more nature by the end of this decade than at the start,” said WWF international chief executive Marco. Lambertini, in a statement. “More natural forests, more fish in ocean and river systems, more pollinators in our farmlands, more biodiversity in the world.”


The big read

Spotlight: Hong Kong’s Ampd Energy is expanding globally to make construction sites greener

Brandon Ng, director of Hong Kong-based battery energy storage system maker Ampd Energy, accelerated growth despite global headwinds.

Learn more here.


Discoveries and Innovations

Cleantech start-up Clarity Movement has developed a series of tiny sensors to air quality monitoring to replace traditional units, some of which are the size of an automobile.

Chicago-based software startup Rheaply acquired an online marketplace for surplus building materials like salvaged steel, recycled rebar and poured concrete.

In 2023, the Department of Energy will begin turning toxic waste stored in tanks at the Hanford, Washington nuclear waste site into more storable waste. glass shape.


Sustainability Deals of the Week

Investment boom: Since the passage of the Cut Inflation Act, $28 billion in new manufacturing investments have been announced in the United States, mostly in electric vehicle, battery and panel manufacturing. solar.

Cycling subsidies: A new program from Bloomberg Philanthropies and the Global Designing Cities Initiative will select ten global cities to each receive $1 million in grants for projects that increase bicycle use.

Fair electrification: The City of Denver and Energy Outreach Colorado have entered into a three-year partnership with green energy company BlocPower to electrify 200 low-to-middle income homes.


on the horizon

A new study from the Minderoo Foundation suggests that the petrochemical industry could face billions in legal claims for damage caused by plastic pollution. He goes further, warning that in the United States alone, the plastics industry could be forced to pay more than $20 billion in damages by the end of this decade. More on that here.


What else we read this week

A wind turbine just broke a world energy record and it’s recyclable (Popular Science)

Recycled battery materials can perform just as well as new (hard-wired)

The world’s big polluters talk about Net-Zero with little to show (Bloomberg)



Green Transportation Update

JThe big question for consumers thinking about electric cars is: how long will the battery last? Forbes contributor Jim Gorzelany says this tends to dominate concerns in consumer surveys and offers some advice on EV batteries:

1. Unlike a gas-powered car, you’ll save energy on city trips versus the highway.

2. Just like gasoline-powered cars, rapid acceleration consumes more energy. Keep light pressure on the pedal.

3. Just like gas-powered cars, you need to check your tire pressure frequently to maintain fuel efficiency.

4. Use the car’s maximum regenerative braking setting to return additional power to the vehicle’s batteries during deceleration.

Learn more about EV batteries here.


The great history of transport

Major breakthrough to make electric cars mainstream: Researchers develop 10-minute charging method

Pennsylvania State University researchers have discovered a way to cut electric vehicle charging times by more than half, as the electric vehicle industry and its proponents desperately try to address concerns about vehicle convenience, which slows their wider adoption.

Learn more here.



More green transport news

Polestar 3 launch: The premium electric SUV to rule them all?

Drivers who switch to bikes or trains for car journeys significantly reduce emissions, studies show

European electric car sales will ride out the economic storm before accelerating again

Porsche delays electric Macan SUV until 2024

BYD, China’s electric vehicle leader, enters Indian passenger car market in global push


For more sustainability coverage, click here.

Metabolic Pathways and Metabolic Conditioning – Cleveland Clinic Health Essentials

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Metabolic conditioning can take your body from a crackling engine to a well-oiled machine. But the key lies in understanding your metabolic pathways.

Cleveland Clinic is a nonprofit academic medical center. Advertising on our site helps support our mission. We do not endorse non-Cleveland Clinic products or services. Policy

I’m sorry, your…huh?

“Your metabolic pathways are the three main ways your body produces energy,” says Ernest Miller, PT, DPT, CSCS, physical therapist and certified strength and conditioning specialist. “How you target and train each can help you optimize your health and fitness.”

Dr. Miller explains the ins and outs of your metabolic pathways and how to use them to improve your fitness.

What is a metabolic pathway?

Like cars, humans need fuel to run. Instead of electricity or oil, food is our fuel. But a lot has to happen to that piece of toast before your body can use it to recharge.

Here’s how it works.

The cells of all living things contain ATP (adenosine triphosphate). ATP is a molecule that brings energy to the parts of the cell where it is needed. Digestion converts food into ATP. Then very small amounts of ATP are stored – like money in a bank – in your body. They can be used as needed. But since only a small amount is stored, your body relies on its metabolic pathways to create the rest of the ATP it needs.

“Everything the body does — from breathing to competing in professional athletics — requires ATP,” says Dr. Miller. “The body uses different metabolic pathways, or types of chemical reactions, to produce the right kind of energy to fuel different activities.”

Your the body has three different metabolic pathways:

1. Phosphagen system (ATP-PC system) for immediate energy

Phosphocreatine (PC) is a molecule in your muscles that can make ATP in the blink of an eye. It is also known as creatine phosphate (CP). And although the PC is available when you need it, there’s not much to do.

“You store a small amount of CP that you can access quickly for bursts of high-intensity exertion,” says Dr. Miller.

Think of your phosphagen system as your immediate energy system. It’s the take-home energy your body needs to pull away from an oncoming train. In weightlifting, it’s what you use to reach your one-rep max (the most amount of weight you can lift for one rep).

“High intensity movements that last between 5 and 10 seconds use this immediate energy cycle. Your body doesn’t have time to go through the other two longer metabolic pathways,” Dr. Miller adds. “Because PC is stored in your muscles, it is immediately available for use.”

2. Glycolytic system (anaerobic glycolysis) for short-term energy

To understand the glycolytic system, let’s break down the roots of the word.

  • Glycorefers to something sweet, as in glucose or blood sugar. Glycogen is the stored form of glucose in your body.
  • lytic” and “lysis” refer to the act of loosening or dissolving something.

“Anaerobic glycolysis breaks down sugar to fuel activity. Like PC, glycogen is stored in your muscles,” says Dr. Miller. “But glycogen takes longer to break down.”

After about 6-10 seconds of intense exertion, your phosphagen system PC has dried up. So for intense activities and exercises that last longer – anywhere from one to three minutes – your glycolytic system takes the lead. Think of the glycolytic system as your short-term energy system.

3. Oxidative (aerobic) system for sustained (or long term) energy

Any activity requiring endurance uses the oxidative pathway.

“Your body uses the oxidative pathway for anything that lasts longer than a few minutes. After three to five minutes of intense energy use, it will kick in,” says Dr. Miller.

Along with the oxidative (or aerobic) system, your body needs oxygen to produce ATP.

“The phosphagen and glycolytic systems are anaerobic, meaning they produce energy without using oxygen,” says Dr. Miller. “Without the need for oxygen, they can kick into high gear faster than the aerobic system.”

The oxidative system fuels activities such as 30 minutes on an elliptical machine or running a 5K or even a marathon.

“A marathon runner runs at a lower intensity than a 100 meter sprinter. While sprinters need a lot of energy quickly, they run out just as quickly,” adds Dr. Miller. “But endurance athletes can reach a steady state where they run at the same speed for miles. Their aerobic system isn’t as fast. But because the exercise is less intense, they are able to produce energy. energy at the same rate they use it – and last longer.

What is metabolic conditioning?

Now it’s possible – and beneficial — to train your body to use each metabolic system, a process called metabolic conditioning.

“Depending on your goals, there are reasons to condition your body to use one metabolic pathway more than others,” says Dr. Miller.

For example, playing American football involves short, intense periods of activity with rest between games. This is why American football players benefit when they focus on conditioning their phosphagen system (remember, immediate).

“Compare that to football players,” says Dr. Miller. “Football is continuous. It’s a 90 minute game. Athletes always run with very few stops. Football relies more on your glycolytic and oxidative systems. Different sports require better use of different metabolic pathways.

How to Include Metabolic Conditioning in Your Fitness Routine

The three metabolic pathways are like the three musketeers – when you train one, you train them all.

“There’s a misconception that you can switch between each system, but in reality they all work simultaneously,” says Dr Miller. “The difference is in what percentage of each system you use at any given time.”

Dr. Miller points out that a well-rounded fitness program will condition all three. But prioritizing one specific pathway over another can help you reach certain activity and fitness goals.

“If you want to run a 5K or do other endurance activities, your metabolic conditioning needs to be geared more towards using your oxidative system (long term). Whereas someone who wants to make gains by lifting weights might want to start conditioning the phosphagen system (immediate),” says Dr. Miller.

You do not know where to start ? Choose activities and exercises that tap into the metabolic system you are targeting. Pay close attention to your intensity level and the duration of your work and rest.

Formation of your phosphagen system

The keys to making this system work are:

  • Super short intervals (aim for 10 seconds).
  • High intensity effort. You should feel this is as hard as it gets.
  • Long breaks between exercises.

Tip: If you can sustain your intensity for longer, that’s not your max and you’re using the wrong system.

Here are some examples of activities that make your phosphagen system work:

  • Swim at full speed.
  • Weightlifting your maximum weight for one rep.
  • Wind sprints (running at full speed).

Training your glycolytic system

For this system, you want to feel like you’re pushing yourself, but you can still maintain a moderate-intensity workout for two to three minutes at a time. Aim for a brief rest in between.

Activities that train your glycolytic system include:

  • Basketball.
  • Circuit training.
  • Interval running (alternating faster running with walking or light jogging).
  • Tabata and other types of HIIT (high intensity interval training).

Training your oxidative system

Training the aerobic system should last much longer than training the other systems.

“You should take shorter breaks because the intensity is low enough to do repeat bouts,” says Dr. Miller.

Aim for a few hours each week. You can break this down by doing about 20-30 minutes of exercise, three to five times a week. Here are some examples of aerobic activities:

  • LIIT (low intensity interval training). It’s the softer cousin of HIIT.
  • Longer bike rides outdoors or on a stationary bike.
  • Swimming laps.
  • Starting a running program.

“If you’re just starting to exercise, start with slow to brisk walking. Build up to 20 to 30 minutes at a time,” recommends Dr. Miller. “As your cardiovascular fitness develops, walk faster. Then move on to alternating periods of walking and jogging. From there, you can transition to jogging for 20 to 30 minutes at a time.

If stationary biking is your thing, Dr. Miller says cycling has the added benefit of training all three metabolic systems.

  • Pedal as hard as you can with maximum resistance to target your immediate energy system.
  • Target your short-term energy system by pedaling at a brisk pace with resistance at a moderate level for two to three minutes.
  • Do not try resistance on the bike and cycle at a leisurely pace for 30 minutes to work your long-term energy system.

You do not know where to start ?

Before trying metabolic conditioning, Dr. Miller recommends consulting your healthcare provider.

“An annual physical exam can screen you for cardiovascular and pulmonary conditions that would prevent you from safely starting a new exercise program,” Dr. Miller advises.

If everything looks good, the next step would be to consult a fitness professional. Qualified fitness professionals include athletic trainers, exercise physiologists, personal trainers, strength coaches, and physical therapists.

“They can guide you because it’s important to tailor metabolic conditioning to your abilities and goals,” says Dr. Miller. “They can help you sift through all the noise, see where you are, what your goals are, and help you find a suitable starting point.”

Civilian Climate Corps programs take off in states across the country

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Hello and welcome to The Climate 202! We arrived on Friday. To celebrate, we’re watching this again video of 747who was crowned the winner of Fat Bear Week on Tuesday despite attempted voter fraud. 🐻 But first:

Beyond the Beltway, Civilian Climate Corps programs are flourishing in states across the country

President Biden took office with big plans to launch the first ever Civil climatic bodya federally funded initiative to employ tens of thousands of young people to fight climate change.

But those plans face an uncertain path on Capitol Hill after the program was removed from Democrats’ landmark climate bill this summer, as The Climate 202 previously reported.

Regardless of the standoff in Washington, states across the country have already launched similar programs to hire young people to tackle climate issues within their borders. These state programs could eventually provide a powerful model for a civilian climate body at the federal level, proponents argue.

“States have consistently stepped up to pick up the slack on climate when the federal government has fallen short,” said Casey Katimsgeneral manager of the American Climate Alliance, a bipartisan coalition of governors committed to achieving the goals of the Paris Agreement. “So the states are stepping up to lead, but the administration can always look at what it can do.”

From Maine to California, at least eight states have launched versions of Climate Corps programs, many of which are integrated into state governments and receive federal funding from US Corps.

Here is an overview of these programs and how they could one day inform a federal initiative:

California and edible food recovery

Long an environmental leader among states, California established the first national Climate Corps program in 2020.

The California Climate Action Corpsheaded by a state office called California Volunteers, favored the promotion of edible foods. That means fellows have sought to divert food from landfills — a major source of climate pollution — to Californians struggling with food insecurity.

“There’s a huge push to make sure food doesn’t end up in landfill, where it can cause more greenhouse gas emissions, rather than with the people who need it most. “, said josh fridayCalifornia Service Manager.

In 2016, the Golden State passed ambitious legislation that calls for reducing organic waste disposal by 75% by 2025. Organic waste in landfills accounts for about 20% of California’s methane, which is more than 80 times more potent than carbon dioxide in its first 20 years in the atmosphere.

Maine Energy Conservation and Home

In July, the Maine legislature allocated modest funding — $200,000 — to launch the Maine Climate Body.

In a state that experiences cold, snowy winters, the program will focus on energy efficiency and energy conservation, helping residents save money on utility bills while heating their homes.

“There is an urgent need to help people save money on fuel this winter and stay warm and safe,” said Kirsten Brewerwho coordinates the program under the aegis of Maine Volunteerthe state services commission.

Maryalice Croftonexecutive director of Volunteer Maine, said she and Brewer are still reviewing proposals for pilot projects that could be up and running by January.

Crofton added that she is “very interested” in hiring social workers who could help low-income residents take advantage of discounts for weathering their homes, including the Weather Reduction Act incentives. ‘inflation.

Colorado and Wildfires, Drought Mitigation

In Centennial State, which is particularly vulnerable to severe wildfires and extreme drought, the Colorado Climate Body sought to mitigate the dangers of these climate change fueled disasters.

Members of the corps, led by Serve Colorado in the Office of the Lieutenant Governorhelped thin forests and educate landowners about wildfire risk.

“Over the past few years we have seen the worst wildfires in Colorado history,” Colorado said. Lieutenant Governor Dianne Primavera, citing a grass fire last year that burned down hundreds of homes and forced thousands to evacuate. “So that’s part of the reason Serve Colorado has really stepped up to address these issues.”

Corps members also helped install low-flow showerheads and more efficient faucets and toilets, in a bid to “help reduce water use and save money in the Coloradans.” on utility bills,” Primavera added.

Michigan and the White House’s Next Steps

In September, Michigan announced $1.3 million in federal funding to support the Michigan Climate Corps AmeriCorps program.

Although applications for new funding are expected this month, the program has already used previous funding to partner with Wayne State University to help Detroit residents protect their homes from flooding, said Virginia “Ginna” Holmesgeneral manager of the Michigan Community Service Commission.

Meanwhile, advocates have continued to urge Congress and the Biden administration to create a civilian climate corps at the national level. If no clear legislative pathway emerges, the president could sign an executive order directing relevant federal agencies to set up the program, some supporters say.

A White House The spokesperson did not respond to a request for comment.

FERC Chairman Richard Glick ‘confident’ on Senate reconfirmation

Federal Energy Regulatory Commission President Richard Glick expressed cautious optimism Thursday that the Senate will reconfirm him as head of the federal pipeline regulator, who has taken a more active role in climate policy under his leadership.

“I’m told there are a lot of people — the White House, Senator Schumer, others — working hard for confirmation,” Glick said during the interview. American Renewable Energy Council‘s Grid Forum, referring to the Senate Majority Leader Charles E. Schumer (DN.Y.).

“They are confident, and so I will remain confident,” he added.

At the urging of Glick, a Democrat, FERC said in February it would review the impact of pipelines and other natural gas projects on climate change and environmental justice communities. But the commission quickly backtracked in the face of opposition from fossil fuel industry groups, Republican lawmakers and Senator Joe Manchin III (DW.Va.)

President Biden appointed Glick to continue leading the commission in May. But the Senate Committee on Energy and Natural Resourceschaired by Manchin, has not yet scheduled a confirmation hearing and time is running out before the Senate adjourns at the end of the year.

Spokespersons for Manchin and Schumer did not respond to requests for comment.

Zinke’s Washington scandals follow him on the Montana House run

Some Montana Republicans are hesitant to back the former interior secretary ryan zinke in his bid to represent the state in the U.S. House, citing his scandals under the Trump administration, Ben Lefebvre reports for Politico.

Zinke resigned in 2018 under a cloud of ethics investigations, including inquiries related to his Montana real estate dealings and his conduct in office. He narrowly survived the Republican primary in June, but now Republicans in Montana appear divided, the former governor Marc Racicot and former Secretary of State Bob Brown writing in a joint editorial that they will vote for the Democratic candidate Monique Tranel on Zinke because of the controversies.

Meanwhile, John LambZinke’s libertarian opponent, said Zinke asked him to leave the race and instead endorse it – a sign that Zinke knows the race is close and he cannot risk losing votes from the GOP for the benefit of a third-party candidate.

Zinke criticized Tranel for supporting renewable energy projects and the Green New Deal, blaming Democrats for recent spikes in inflation. Despite their apprehensions, Republicans could still lend their support to Zinke in November as part of their broader campaign to take control of the House.

Carcinogenic pesticides have polluted local rivers for decades, DC says

DC Attorney General Karl A. Racine (D) announced a lawsuit against the chemical maker on Thursday Velsicolalleging the company knowingly contaminated the Potomac and Anacostia rivers with cancer-linked pesticides, the Washington Post Kyle Swenson reports.

At a press conference, Racine said the company had known since 1959 that a product it made to kill insects could cause cancer. He said Velsicol opted for a campaign of “misinformation and deception” and sold the product until 1988, when the federal government banned it.

Racine added that the alleged contamination continues to harm people and ecosystems in the region, especially in low-income black and brown communities.

Velsicol representatives did not immediately respond to a request for comment.

Germany got rich from exports and cheap Russian gas. Now that could drag Europe down.

Germany has established itself as the economic engine of Europe by relying on cheap Russian energy and manufacturing exports. But the energy crisis caused by the war in Ukraine has challenged this economic model, with potentially serious consequences for the rest of Europe, Anthony Faiola and Vanessa Guinan-Bank report for La Poste.

Before the war, Russia supplied more than half of all natural gas in Germany, including for the high-energy production of ammonia for fertilizers, rubber for sneakers and coatings for cars. Today, as Germany seeks to entirely replace Russian gas imports, its economy is collapsing.

If the country continues on this path, economists say it could face a recession as early as next year, dragging the rest of Europe down with it. Already, analysts are warning that energy prices are likely to remain high for years.

For now, Germany’s energy reserves are teeming with increased imports from Norway and the Netherlands. Germany is also burning more coal and oil, with plans to reactivate old coal-fired power plants that could threaten the country’s climate goals.

Europe continues to quietly import Russian nuclear energy

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Russia is a dominant player in the global nuclear market.

Anadolu Agency | Anadolu Agency | Getty Images

Russia’s nuclear fuel industry remains visibly untouched by European sanctions more than seven months after the start of the Kremlin’s war in Ukraine, much to the dismay of Kyiv officials and environmental activists.

Despite eight rounds of sanctions, targeted measures against energy exports and Ukraine’s calls for a full embargo on nuclear trade, shipments of nuclear fuel to EU member states continue to flow from Russia.

Ariadna Rodrigo, head of EU sustainable finance at environmental group Greenpeace, told CNBC by phone that it is “absolute madness” for the bloc to continue funding the Kremlin while ignoring the nuclear fuel trade of Russia.

“If EU governments really want to stop the war, they must cut the umbilical cord of Europe’s nuclear industry in the Kremlin and instead focus on accelerating energy savings and renewables,” Rodrigo said. .

By presenting his latest sanctions package, the European Commission did not propose to target trade in Russian nuclear fuel. The executive arm of the EU has previously targeted Russian oil, gas and coal as part of a broader strategy to increase economic pressure on the Kremlin.

Hungary and Bulgaria were the most vocal in opposing sanctions on Russian uranium and other nuclear technologies last week, according to Rodrigo.

The fact that we don’t discuss it properly just shows the EU’s double standard.

Ariadna Rodrigue

EU Sustainable Finance Manager at Greenpeace

The commission has repeatedly condemned Russia’s war in Ukraine, accusing President Vladimir Putin of using energy as a weapon to drive up commodity prices and sow uncertainty in the 27-nation bloc. Moscow denies having militarized energy supplies.

The few EU bans on Russia’s nuclear energy sector that are in place, such as a port access ban for Russian-flagged vessels for the transport of nuclear fuel, contain many loopholes and Activists say much tougher measures are needed to reduce the bloc’s reliance on Russia. nuclear services.

This sentiment is shared by Kyiv.

Ukrainian President Volodymyr Zelenskyy said in early August that he had spoken with European Council President Charles Michel about the need for the EU to impose sanctions on Russia’s nuclear industry.

“Russian nuclear terror demands a stronger response from the international community – sanctions against Russia’s nuclear industry and nuclear fuel,” Zelenskyy said via Twitter at the time.

European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelenskyy (left to right) face the press as they meet in mid-September in Kyiv, Ukraine.

Edition of the future | Edition of the future | Getty Images

More recently, a top economic adviser to Zelenskky doubled down on that message, saying it was “extremely important to impose sanctions, not just on Russian oil.”

“Oil, gas, uranium and coal, all of this should be banned. Because they are using this money to finance this war,” Oleg Ustenko said at the end of September. according to the Associated Press.

The Russian Foreign Ministry and the Russian Embassy in London did not immediately respond to a CNBC request for comment.

Russia’s energy influence goes beyond oil and gas

In April, a European Parliament resolution called for a “immediateembargoed Russian nuclear fuel imports and urged member states to stop working with Russian nuclear giant Rosatom on existing and new projects.

But Russia is a dominant player in the global nuclear fuel market and any move to break the EU’s reliance on its services would likely be far from painless, especially with Rosatom at the heart of the dependence on Europe.

Backed by Putin, Rosatom not only dominates civilian industry, but is also in charge of Russia’s nuclear weapons arsenal and currently oversees the occupied Zaporizhzhia nuclear power plant in Ukraine.

The European Commission has repeatedly condemned Russia’s war in Ukraine, accusing President Vladimir Putin of using energy as a weapon to drive up commodity prices and sow uncertainty in the 27-nation bloc.

Mikhail Metzel | AFP | Getty Images

There are 18 years old russian nuclear reactors in Europe, in countries like Finland, Slovakia, Hungary, Bulgaria and the Czech Republic. All of these reactors depend on Rosatom for the supply of nuclear fuel and other services.

Underlining the extent of Russia’s nuclear power influence in some member states, even as the assault on the Kremlin in Ukraine continues, Hungary in late August announcement the construction of two new nuclear reactors by Rosatom.

Moscow accounted for nearly a fifth (19.7%) of EU uranium imports last year, according to the latest available data from the Euratom Supply Agency. Only Niger (24.3%) and the former Soviet Republic of Kazakhstan (23%) were the bloc’s biggest uranium suppliers.

Opponents of nuclear energy march through the German town of Lingen in Lower Saxony holding placards with inscriptions such as ‘Your profit – our risk’, ‘Get out instead of in’, ‘No business with Rosatom”.

Image Alliance | Image Alliance | Getty Images

The EU paid around 210 million euros ($203.7 million) to import raw uranium from Russia last year, according to estimates reported by Investigate Europeand an additional €245 million was paid to import uranium from Kazakhstan, where nuclear fuel extraction is controlled by Rosatom.

“We’re talking about a significant amount of money here,” Greenpeace’s Rodrigo told CNBC, noting that those estimates only accounted for uranium imports and that EU dependency covers services throughout the world. Supply Chain.

Asked about the extent to which Europe’s uranium imports from Russia are undermining his efforts to encourage others to stop importing Russian energy, Rodrigo replied: “The fact that we don’t discuss it correctly just shows the EU double standard”.

A commission spokesperson had no comment when contacted by CNBC.

How “green” is nuclear energy?

Proponents of nuclear power say it has the potential to play a major role in helping countries generate electricity while reducing carbon emissions and reducing their dependence on fossil fuels.

However, critics argue that nuclear power is an expensive and harmful distraction to faster, cheaper and cleaner alternatives. Instead, environmental campaign groups argue that technologies such as wind and solar should be prioritized in the planned shift to renewable energy sources.

As part of the EU taxonomy – a mechanism that defines which investment options can be considered “green” – the bloc has controversially recognized nuclear power and gas, a fossil fuel, as sustainable under certain circumstances.

Austria on Monday launched a lawsuit against the EU and seeks help from allies over the bloc’s labeling of nuclear power and gas as sustainable investment options, calling it ‘irresponsible and unreasonable”.

The EU has acknowledged the lawsuit but said he would not comment on the merits of the case.

Advanced robotic inspections bolster critical infrastructure in the European market

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ROTTERDAM, NETHERLANDS & PITTSBURGH–(BUSINESS WIRE)–Gecko Roboticsa leader in using advanced robotics and enterprise software to help ensure the availability, reliability and sustainability of critical infrastructure, today announced a three-year collaboration with Siemens Energy European Field Service Organization to market and perform advanced robotic ultrasonic inspection services throughout Europe.

These advanced robotic inspections are poised to harden critical infrastructure and transform the way installed equipment is inspected and maintained. Together, the two companies will develop new technologies and services to better serve customers in several sectors, including pulp and paper, power generation (conventional and renewable) and oil and gas.

“Over the past year, we have worked closely with experts from Siemens Energy to understand the value and impact that our companies’ collaboration can create for the European energy market,” noted Ryan Hermann, Managing Director of Gecko, Europe. “It has become clear that by coming together to serve these customers, we can unlock new data insights and help achieve reliability and efficiency that was not possible before.”

Ultrasonic robots will bring unparalleled benefits to European customers

Siemens Energy European Field Service Organization and Gecko Robotics have already carried out inspections across Europe in Poland (pulp/paper), Belgium (waste-to-energy), the Netherlands (food processing) and the UK (power generation ). To support this collaboration, Siemens Energy has established a new product competence center in the Netherlands, with expansion plans underway.

“The collaboration between Gecko Robotics and Siemens Energy brings together the best of both worlds to deliver end-to-end value to our customers. With one of the largest installed rotating equipment fleets in the industry, Siemens Energy will provide access unrivaled customer for bringing proven robotic technology solutions to its large customer base,” according to Herman Smit, Head of Robotic Inspections at Siemens Energy. “The robotic inspection system will not only ensure safe and reliable operations of customer assets, but also provide rich multimodal data to make condition-based inspections and maintenance of static equipment much more feasible.”

Gecko Robotics’ robots are remote-controlled and equipped with ultrasonic transducers, location sensors, lasers and HD cameras. They climb vertically and horizontally, magnetically adhering to a wide range of equipment types to check for changes in thickness, cracks, corrosion, blistering and other forms of degradation. The robots also include locating technology to pinpoint exact locations on an asset, enabling truly precise inspections that allow inspectors to examine corrosion trends over time, predict when failures will occur, and estimate when repairs are needed.

Data captured by Gecko’s robots and software platform can then produce a validated report within 24 hours, allowing inspectors to quickly assess and make informed decisions regarding ongoing maintenance or repairs. This process and speed of execution also allows inspectors to reduce asset downtime and lost production, while ensuring that critical repairs are carried out with confidence.

By aligning with Siemens Energy European Field Service Organization, Gecko gains a local presence across Europe, access to local technical talent and the opportunity to work with customers in the region. Siemens Energy will be responsible for hiring and training local technicians and customer service personnel across Europe, enabling Gecko Robotics to efficiently deliver state-of-the-art technology, while adhering to all local safety regulations. and work.

About Gecko Robotics:

Gecko builds climbing robots and enterprise software to protect the infrastructure of everyday life. At a time of massive disruption and growing demand, Gecko’s technology helps maximize the productivity, reliability and longevity of assets that underpin critical industries including power generation, oil and gas refining , heavy manufacturing, transportation and more. Gecko’s robots capture data at greater scales and fidelity than traditional manual inspection methods. Combined with Gecko’s software, this data amplifies the input of human experts while eliminating the need to enter dangerous areas themselves. This results in optimized maintenance, higher uptime, informed CAPEX investment, significant cost savings, reduced environmental footprint and fewer workplace injuries. www.geckorobotics.com

A demonstration disrupts the morning at the headquarters of Sempra Energy

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Climate activists disrupted the start of Sempra Energy’s Workers’ Day in downtown San Diego.

Up to a dozen people physically blocked the entrance to the Fortune 500 company’s underground parking lot, making it difficult for company employees to get to work.

Sempra is the parent company of San Diego Gas and Electric and Southern California Gas.

“They want to position themselves as a truly sustainable transition company as we transition to clean energy, but that’s really not the case,” said Phil Petrie of San Diego 350, a local climate advocacy group. . “They mainly deal with methane and methane is an extremely powerful greenhouse gas.

Pertie said society contributes to global warming which intensifies the impact of hurricanes, wildfires and droughts.

“Every time you burn fossil fuels, you release carbon dioxide (CO2) into the atmosphere, and CO2 is what causes global warming,” Petrie said.

Carbon dioxide in the atmosphere is rising, according to Petrie, raising the bar for the severity of extreme weather events.

San Diego 350 says the energy company is building more fossil fuel production and distribution facilities so it can boost liquefied natural gas exports.

They want Sempra to stop expanding its fossil fuel portfolio and lower energy prices.

The advocacy group says Sempra is profiting from soaring energy prices, which is creating financial hardship for a quarter of its customers.

“The fact is, sustainability is at the heart of our business strategy,” Sempra Energy said in an emailed statement. carbon energy sources such as hydrogen and renewable natural gas.

Federal Cabinet decides to form committee to prepare energy conservation strategies

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The Federal Cabinet has decided to form a committee to prepare long, medium and short term strategies for energy conservation in the country.

The decision was taken at a federal cabinet meeting held in Islamabad on Tuesday, chaired by Prime Minister Shehbaz Sharif.

The committee headed by Defense Minister Khawaja Muhammad Asif will review the energy efficiency and conservation measures implementation roadmap prepared by the Ministry of Energy.

The Prime Minister has advised the Department of Energy to give a detailed briefing next week regarding the power theft, line losses and their solution.

The Federal Cabinet has strongly condemned the shooting incident at a school bus in Swat.

The cabinet also decided to add Bhutan, Maldives, Nepal, Rwanda, Slovakia and Belarus to the list of business visas to promote business relations with these countries.

The decision was also taken to extend the family visit visa from one year to two years on the recommendation of the Ministry of Interior.

The Federal Cabinet has approved the issuance of a 30-day non-extendable single entry visa in the family visit category on travel/asylum/temporary documents certified by the Ministry of Foreign Affairs.

It also approved some additions to the online visa system.

On the recommendation of the Ministry of Housing and Works, the Federal Cabinet has also approved the allocation of 23 kanals of land in Nabha Road, Lahore to the Supreme Court of Pakistan, Lahore Registry.

Stocks to watch: TCS, Adani Energy, Infosys, India Cements, Bajaj Auto

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Here is the list of the 10 main actions that will be in the spotlight today:

Tata Consulting Services: TCS net profit for Q2 FY23 increased by 8% for 10,431 crore from the prior year quarter and the company also declared a second interim dividend of 8 per share. Shares of TCS closed nearly 2% higher at 3,121 each on BSE ahead of its second-quarter results. TCS said it saw some softness in long-term decision-making after India’s top information technology exporter reported a bigger-than-expected rise in second-quarter profit today.

Vent Stainless/Green Adani: Inox Wind, through its subsidiary Inox Green Energy Services Limited (IGESL), has sold its entire equity interest in three Special Purpose Vehicles (SPVs) — Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd to Adani Green Energy Limited, part of the Adani Group. After the transaction, IGESL will provide long-term operation and maintenance services for these projects.

Infosys: India’s second-largest IT services provider, Infosys Ltd, will consider a takeover proposal at its board meeting on October 13, the company has informed the exchanges. The outcome of the board meeting will be released to stock exchanges after the close of the board meeting on Oct. 13, 2022, the company said. Infosys will also report its financial results for the September quarter (Q2FY23) on October 13. The company’s board will also consider its first interim dividend for FY23.

Bajaj Auto: Bajaj Auto Ltd announced on Monday that it has repurchased more than 64 lakh shares from public shareholders for 2,499.97 crore as part of its share buyback exercise. The company, which began buying back shares on July 4, 2022, said its buyback committee at its meeting on Monday approved the completion and closing of the financial year from October 10, 2022. In a regulatory filing, Bajaj Auto said it purchased back 64,09,662 shares, using a total amount of 2,499.97 crore.

Adani Ports: Adani Ports and Special Economic Zone Ltd, India’s largest ports and logistics company, announced on Monday that it has received approval from the National Company Law Tribunal (NCLT) to acquire the remaining 58.1% stake in Gangavaram Port Limited. With this acquisition, GPL will become a 100% subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ).

India Cements: India Cements Ltd announced on Monday that it has entered into an agreement to sell its entire stake in Springway Mining Private Limited (SMPL) to JSW Cement for a total consideration of 476.87 crores. SMPL owns limestone land in Panna district and is in the process of setting up a cement plant in Damoh district in Madhya Pradesh. Therefore, SMPL ceased to be a wholly owned subsidiary of ICL, he added.

GVK Food and Infrastructure: GVK Power & Infrastructure said the National Company Law Court (NCLT) in Hyderabad on Monday admitted an insolvency petition filed by Axis Bank against its subsidiary GVK Power (Goindwal Sahib) Ltd. GVK Power (Goindwal Sahib) Ltd owns a 540 MW (2X270 MW) coal-fired power station near the village of Goindwal Sahib in the Tarn Taran district of Punjab. Its Unit 1 was commissioned on April 1, 2016, while Unit 2 was made operational on April 14, 2016.

Panacea Biotech: Biotechnology company Panacea Biotec announced on Monday that it has placed a long-term supply order worth $127.3 million (more 1,040 crore) from UNICEF and the Pan American Health Organization for the supply of its pentavalent Easyfive-TT vaccine. UNICEF’s order is for US$98.755 million (approximately 813 crore) for the supply of 99.7 million doses in calendar years 2023-2027, Panacea Biotec said in a statement.

NMDC: State-owned mining giant NMDC left lump ore prices and fines unchanged for the third time in a row. In a regulatory filing on Monday, NMDC said it set lump ore prices at 4,100 per ton and that of fines at 2,910 per ton as of October 8, 2022. Iron ore is one of the main raw materials used in the manufacture of steel. Any movement in ore prices has a direct impact on steel prices, which has been of concern to user industries for several months.

JSW Steel: JSW Steel reported 12% year-over-year growth in its combined steel production to 5.68 million tonnes (MT) in the quarter ended September 2022. During the period of the previous year, its combined steel output was 5.07 MT, JSW Steel said in a statement. “JSW Steel announced that its group’s combined crude steel production was 5.68 million tonnes, recording 12% year-on-year growth, including production from jointly controlled entities,” it said. -he declares.

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Pioneers in the US Clean Hydrogen Industry Launch Avina Clean Hydrogen Inc., a … | New

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NEW YORK, Oct. 09, 2022 (GLOBE NEWSWIRE) — The directors of Hydrogen Technology Ventures, a company established in 2019 to invest across the clean hydrogen value chain, have launched Avina Clean Hydrogen Inc, a platform leading form for clean hydrogen with an advanced portfolio of green ammonia and hydrogen plants expected to be operational in 2024.

Avina is a one-of-a-kind green hydrogen platform that was created to build green hydrogen and green fuel plants in the United States. The platform develops proprietary, modular solutions to deploy low-cost distributed green hydrogen at scale and is well-equipped with industry experts who have decades of experience in the green hydrogen sectors. , industrial gas and renewable energies.

Renewable generation costs are already below $30/MWh in many parts of the United States today. Yet despite these cost reductions, industries such as oil, steel, rail, marine and aviation are unable to use renewable energy in any meaningful way to reduce emissions from their processes. of production.

Avina’s mission is to expand renewable energy use cases and accelerate the energy transition in hard-to-decarbonize sectors by harnessing low-cost renewable electrons and converting them into higher-value green molecules. The platform uses a technology-based production approach to make distributed green hydrogen cheaper than the gray hydrogen delivered today. The team has unparalleled expertise in renewable energy, industrial gases, green hydrogen technologies and develops proprietary deployment solutions to complement the DOE’s stated goal of driving the cost of green hydrogen production to 1 $/kg by 2030.

“Today, even though the costs of producing gray hydrogen in the United States are around $1.50/kg, the costs of gray hydrogen delivered to the end customer in many cases are still a multiple of the costs of production and this issue is likely to become much more significant as new applications for hydrogen are developed in places where supply is not readily available,” said Vishal Shah, Founder and CEO of Avina. .

“Additionally, the intermittency of renewable energy and rising transmission and distribution costs will continue to challenge the hydrogen industry, even as electrolyzer costs continue to decline. Our platform is uniquely positioned to deliver proprietary system-level solutions to multiple stakeholders: renewable energy developers facing grid congestion, hydrogen customers facing unsustainable distribution costs as well as customers who want to reduce production costs by solving renewable energy. power intermittency problem.

Avina has recently entered into multiple strategic partnerships, customer intakes and investment agreements with major industry players and is well capitalized to advance the development of 250 MW of green ammonia and hydrogen plants. in several locations in the United States. The platform plans to invest $1 billion in green ammonia and hydrogen plants by 2025 and has an additional 1.5 GW pipeline of renewable energy assets that can be converted into green hydrogen projects at different stages of development. You can find more information about Avina Clean Hydrogen at www.avinah2.com

Media Contact

Ashley Connor

[email protected]

Copyright 2022 GlobeNewswire, Inc.

Gunner hired to lead northern office of Andrew Forrest’s renewable energy company, despite ‘shocking’ climate legacy

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Former Chief Minister Michael Gunner has announced he will take on a new role as head of the northern office of billionaire Andrew ‘Twiggy’ Forrest’s renewable energy company, despite what the Environment Center NT called “the Mr Gunner’s ‘legacy of climate destruction projects’ across the Northern Territory during his time as leader.

Mr Gunner made the announcement on social media over the weekend, including numerous photos from an exclusive Northwest Territories News photo shoot with his two children to accompany his announcement, saying he was taking the job at Fortescue Future Industries to improve climate outcomes, “make a meaningful contribution to the world” and do it “for [his] kids”.

“And if I can also make a meaningful contribution to the world, do my part to make it better – for them – then I know I’m not wasting that time when I’m away from them,” he said.

“I think this new work does that.

“I also want my sons to see me fulfilled and passionate about my work.”

Mr Gunner had previously called himself the ‘Chief Minister for Children’ during his nearly six-year tenure as head of the NT, once pledging in a statement ‘to put children at the center of our grip decision-making, because we want a better future for our children”.

He follows fellow former chief minister Adam Giles in jumping on the ‘green energy’ bandwagon, as Mr Giles was named last June the ‘chairman-elect’ of Verdant Earth Technologies – a small energy group which signed a non-binding agreement with Darwin port owner Landbridge Group to further explore the joint development of a proposed $300 million hydrogen project at the port that would see green power exported from the NT to Asia.

Mr Giles had previously worked for mining tycoon Gina Rinehart after leaving office.

Mr Gunner said his new role at FFI would see him focus on creating renewable energy jobs in the Northern Territories and northern Western Australia, which would drive “economy building projects that change the world”.

“We must bring the same urgency to the climate change race to true zero as we have with the global COVID pandemic,” he said.

He will take office in November, in accordance with ministerial guidelines which prohibit a former minister from taking up duties related to any of his previous portfolios for six months.

Mr Forrest said Mr Gunner was the right person for the job.

“We see huge potential in the Northern Territory, with abundant wind and solar power, and a community keen to embrace renewable energy and the job-intensive industries that come with it,” he said.

“It’s people like Michael Gunner who will help us make our ambitions a reality.”

Before stepping down as chief minister in May, Mr Gunner had pushed a petrochemical zone in Middle Arm which the current Fyles government is continuing to pursue, which would see the manufacture of products like plastics and paint, and a first EA reported it as contributing to possible health problems for Territorians who live nearby.

Environment Center NT co-director Kirsty Howie said the center congratulates Mr Gunner on his new role and “finally sees the light on climate,” Territorians can’t “forget the devastating legacy of the projects of destruction of the climate” that he left during his tenure as Chief Minister. .

“No one has pushed harder for the development of new fossil fuels in the territory than Mr. Gunner,” she said.

“Mr Gunner has ignited the carbon bomb of fracking the Beetaloo Basin, which could increase Australia’s greenhouse gas emissions by up to 22%.

“He appointed gas and petrochemical industry lobbyists Andrew Liveris and Paul Henderson to chair the Territory’s Economic Reconstruction Commission, which recommended establishing a large petrochemical zone in the middle of Darwin Harbor using fractured Beetaloo gas. .”

Mr Gunner resigned as Chief Minister in May and MP for Fannie Bay in July, saying he wanted to spend more time with his young family, and as he was under investigation from the ICAC for at least two publicly known issues; one involving alleged campaign trips and the other involving allegations of political interference in the murder charge of Constable Zachary Rolfe in the 2019 shooting death of Kumanjayi Walker.

He also quit before his friend, former senior adviser and former Labor Party secretary Kent Rowe was convicted of historic child sex offenses.

Mr Gunner was paid around $80,000 after leaving office under government-approved pay packages for retired politicians.

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Gas monetization, end of flares, main transition priorities for Seplat Energy

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Seplat Energy Plc, Nigeria’s leading energy company listed on the Nigerian Stock Exchange and the London Stock Exchange, said its energy transition priorities remain to end flaring, monetize gas, replace diesel and biomass with cleaner fuel, to expand along the electricity value chain and to target a smaller scale. gas-to-electric customers. Seplat Energy Managing Director Roger Brown said this while addressing global energy players at Africa Energy Week (AOW) taking place in Cape Town, South Africa. on the theme: Energy Security in an Ever-Changing Energy Landscape, said: “As a leader in this space, our energy transition priorities are to end flaring, monetize gas, replace diesel and biomass through a cleaner fuel, extend the power value chain and target smaller-scale gas-electric customers, while exploring new opportunities. Seplat Energy, he noted, currently produces 300 MMscfd, which is enough to power 1 GW per day. The company’s ANOH and Sapele gas projects have the capacity to supply an additional 2 GW by 2024. “But we need to replace the 20 GW diesel generation with utility-scale gas-to-electric/renewables conversion . We will develop bottled gas products to replace biomass with cooking gas; and extend along the value chain to electricity production with the gas and hybrid model”, underlined the CEO of Seplat Energy. According to Brown, providing more affordable and reliable energy will boost the Nigerian economy, spur development and create jobs. opportunity for society, noting that with a projected future population of 500 million people by 2050, Nigeria represents a huge investment opportunity across the energy sector. , improved national grid, metering, billing, payments, renewable energy and clean cooking replacing biomass were obvious areas of value for businesses and the people and government of Nigeria. to stimulate the creation of decent jobs requiring diversified skills. Enario, a total of 4 million energy-related jobs are created on the continent over the 2021-30 period, largely through the provision of universal access to modern energy to households in Africa sub-Saharan Africa and the rapid deployment of clean energy technologies, according to the IEA report. The CEO of Seplat Energy, who also spoke at a panel discussion titled: International Oil Companies: An Overview of M&A Activity on the Continent, explained that Seplat Energy is an indigenous Nigerian operator that maintains good relations with government and communities; strong operating and safety record; a well-funded balance sheet thanks to prudent financial management and a solid cash position; internationally accountable through dual listing and good governance; and commitment to high performance in environmental and social governance (ESG). All of these, he noted, have given Seplat Energy credible access to international capital markets to fund deals and M&A transactions in line with its strategy.

Germany may not be able to avoid gas ’emergency’

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Germany is entering a dark winter with too much natural gas consumption and may not be able to avoid an energy ’emergency’ in the coming months, the head of the country’s grid regulator warned on Thursday, according to WaPo.

“Gas consumption increased too much last week,” said Klaus Mueller, director of the German network agency.

With the bombing of the Nord Stream gas pipeline system in the Baltic Sea and the overall reduction in natural gas flows from Russia amid the war in Ukraine, German households and businesses must increase energy conservation more than ever as average temperatures in the most Europe’s major economy are expected to drop to nearly 5 degrees Celsius in the second half of the month.

The heating degree data indicates that the heating season has started.

Failure to reduce natural gas consumption will only increase the risk of faster depletion of stored inventories and could trigger a continued spike in natural gas prices. Natural gas consumption last week for households and small businesses was 10% higher than average consumption levels between 2018 and 2021.

“It will be difficult to avoid a gas emergency in winter without at least 20% savings in the private, commercial and industrial sectors.

“The situation can become very serious if we don’t drastically reduce our gas consumption,” Mueller said.

There is good news. natural gas continues to be injected into storage. The total storage level in Germany is around 92.75% as of October 6, well above government targets for this time of year.

And, of course, there are no overall bullish stories here, so we’ll leave you with the bad news. Florence Rabier, Director General of the European Center for Medium-Range Weather Forecasts, said FT that forecasts for November and December in Europe would bring “colder periods and less wind and precipitation, reducing renewable energy production”.

Germans better shoot these coal and fossil fuel power plants while increasing nuclear production to avoid widespread power outages during peak hours. As for households, the cheapest way to offset energy hyperinflation is to burn wood.

Earlier this week, Britain’s electricity regulator gave citizens a dose of reality that a “considerable risk“a shortage of natural gas could materialize this winter and cause power outages.

By Zerohedge.com

More reading on Oilprice.com:

> US Department of Defense > Contract

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> US Department of Defense > Contract

DEFENSE LOGISTICS AGENCY

WGL Energy Services, Inc., Vienna, Virginia, (SPE604-23-D-8003, $291,252,291); Constellation NewEnergy, Inc., Baltimore, Md., (SPE604-23-D-8000, $89,242,032); MP2 Energy NE LLC, Woodlands, Texas, (SPE604-23-D-8002, $70,361,108) and Direct Energy Business, LLC, Pittsburgh, Pennsylvania, (SPE604-23-D-8001, $16,308,321)-contract pricing requirements under Solicitation SPE604-22-R-0406 for the Supply and Delivery of Retail Electricity and Ancillary/Ancillary Services. These were competitive acquisitions with six responses received. These are two-year contracts with no option period. Performance locations are Washington, D.C., Illinois, Ohio, Maryland, Pennsylvania, and New Jersey, with a performance completion date of December 31, 2024. User customers include the military, Navy, Air Force, Department of Agriculture, Department of Defense, Department of Energy, Department of Health and Human Services, and Department of Homeland Security. User customers are solely responsible for financing this contract and vary according to the type of credit and the financial year. The contracted business is the Defense Logistics Agency Energy, Fort Belvoir, Virginia.

DEFENSE FINANCE AND ACCOUNTING DEPARTMENT

Kearney & Company, PC, Alexandria, Va., is awarded a fixed-price, labor-hour contract valued at up to $49,238,991 to audit the financial statements of the U.S. Army Corps Civil Works of Engineers (USACE), and the financial statements of the agencies holding funds under-allocated to USACE military programs for fiscal years 2023-2027. The work will be performed in Washington, DC, and other locations inside and outside the United States, with an expected completion date of December 31, 2027. The contract has a base period of 12 months with four individual one-year option periods. This contract is the result of a competitive acquisition for which two bids were received. Revolving funds for FY2023 Army Corps of Engineers civil works in the amount of $9,381,934 are committed subject to the availability of funds at the time of award. The Defense Finance and Accounting Service, Directorate of Contractual Services, Columbus, Ohio is the contracting activity (HQ0423-23-F-0016).

AVIATION

SRI International, Menlo Park, CA, has been awarded a cost plus fixed cost contract of $12,493,751 for the ISING hardware and software prototype. This contract provides for a prototype solver system demonstrating increased computational efficiency over current state-of-the-art solvers. The work will be performed in Menlo Park, California and is expected to be completed by October 6, 2027. This price is the result of a competitive acquisition and 16 bids were received. Fiscal 2022 research, development, testing and evaluation funds in the amount of $1,834,860 are committed at grant. Air Force Research Laboratory, Rome, New York, is the contracting activity (FA8750-23-C-1001).

Lockheed Martin Aeronautics Company, Fort Worth, Texas, and Greenville, South Carolina, has been granted a firm price modification of $10,355,720 (P00026) for previously awarded contract FA8615-18-C-6058 for the production of F- 16. The contract amendment provides for the purchase of the installation of Helmet Mounted Tracking System (JHMCS) II line replaceable units on fourteen non-flight test aircraft, updates to the standard technical controls manuals of the country and technical commands for compliance with the country’s standard time. In addition, this modification provides for the purchase of additional special support equipment and alternative mission equipment. Work will be carried out in Greenville, South Carolina, and Fort Worth, Texas, and is expected to be completed by February 28, 2026. This amendment involves Foreign Military Sales (FMS) to the Kingdom of Bahrain. FMS funds in the amount of $10,355,720 are committed at the time of grant. The total cumulative face value of the contract is $1,103,660,353. Air Force Life Cycle Management Center, Wright Patterson Air Force Base, Ohio, is the subcontracted activity.

ARMY

Dynamic Systems Inc., El Segundo, CA, has been awarded a firm price contract of $8,857,211 for an upgrade of existing Dell Technologies servers providing virtual machine ware hyperconverged infrastructure. Bids were solicited via the Internet and four were received. The work will be executed at Camp Humphreys, South Korea, with an estimated completion date of Jan. 5, 2023. Other purchases for fiscal year 2022, Army funds in the amount of $8,857,211 were incurred at the time of grant. The U.S. Army’s 411th Contracting Support Brigade, Camp Humphreys, South Korea is the contracting activity (W91QVN-23-F-0002).

NEW FORTRESS ENERGY INC. : Completion of Asset Acquisition or Disposal, Settlement FD Disclosure, Financial Statements and Exhibits (Form 8-K)

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Item 2.01. Completion of acquisition or disposal of assets.

On October 3, 2022 (the “Closing Date”), an indirect subsidiary of New Energy Fortress Inc. (“NFE” or the “Company”), LNG Power Limited (“LNG”), a limited liability company incorporated under the laws of England and Walesand the shareholders of DC Energia e Participações SA (together with LNG, the “Sellers”), a subsidiary of Ebrasil Energia Ltda., a sociedade empresária limitada organized under the laws of Brazilannounced the completion of the sale to Eneva SA, a sociedade anônima organized under the laws of Brazil
(“Eneva”), 100% of the shares of (a) Centrais Elétricas de Sergipe Participações SA (“CELSEPAR”), which, through its wholly-owned subsidiary CELSE – Centrais Elétricas de Sergipe S.A. (“CELSE”), holds 100% of the interests in the 1,593 MW Sergipe power plant, and (b) Centrais Elétricas Barra dos Coqueiros S.A.. (“CEBARRA”, together with CELSEPAR, the “Companies”), which owns 1.7 GW of expansion rights adjacent to the Sergipe power station (the “Buy and Sell of Sergipe”). The Purchase-Sale of Sergipe was carried out pursuant to the Share Purchase Agreement (the “SPA”), dated May 31, 2022, by and among the Sellers and Eneva. The Purchase-Sale of Sergipe was finalized on October 3, 2022after satisfaction of all the conditions precedent set out in the SPA and payment by Eneva to the Sellers of R$6.7 billion (approximately
US$1.29 billion), consisting of the base purchase price of R$6.1 billion
(approximately US$1.18 billion) in addition to the usual adjustments made since December 31, 2021 on the closing date, including, but not limited to, (a) certain actions identified by the companies during the relevant period, including, without limitation, making distributions or payments to sellers and to their affiliates and assuming or incurring liabilities for the benefit of the sellers or their affiliates, and (b) certain costs and expenses incurred by the companies in connection with the purchase and sale of Sergipe.

Energos Infrastructure (“Energos”), the joint venture platform established between the funds managed by Apollo (NYSE: APO) and NFE, will continue to operate the Golar Nanook, a floating storage and regasification unit that remains chartered at CELSE for more than 20 years.

The foregoing description of the SPA and contemplated transactions is not complete and is qualified in its entirety by reference to the full text of the SPA, which was filed as Exhibit 10.38 to Company’s Form 10-Q filed on
August 5, 2022and whose terms are incorporated herein by reference.

Item 7.01. FD Regulation Disclosure.

On October 3, 2022NFE issued a press release announcing the closing of the purchase and sale of Sergipe, a copy of which is filed as Exhibit 99.1 herein and is incorporated herein by reference.

The information set forth in (and incorporated by reference into) this Section 7.01 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the responsibilities of said Section. The information in this Section 7.01 shall not be incorporated by reference in any filing under the Securities Act 1933, as amended (the “Securities Act”), or the Securities Act. exchanges, unless expressly stated otherwise by specific reference in this filing. .

Caution Regarding Forward-Looking Statements

This communication contains certain statements and information that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this communication other than historical information are forward-looking statements that involve known risks and unknown. and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects”, “may”, “will”, “approximately”, “predicts”, “intends”, “plans”, ” estimate”, “anticipate”, or the negative version of these words or other comparable words. There is no certainty that any of the events anticipated by the forward-looking statements will occur or will occur, or if any of them will occur, what impact it will have on the results of operations and financial condition or the price of the Company’s shares. These forward-looking statements represent the Company’s expectations or beliefs regarding future events, and it is possible that the results described herein will not be achieved. These forward-looking statements are necessarily estimates based on current information and are subject to risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause actual results to differ materially from results. discussed in the forward-looking statements. statements. Any forward-looking statement speaks only as of the date on which it is made and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for the Company to predict all of these factors. When reviewing these forward-looking statements, you should keep in mind the risk factors and other cautionary statements contained in the Company’s annual report, quarterly reports and other reports filed with the SECOND, which could cause its actual results to differ materially from those contained in any forward-looking statements. The Company undertakes no obligation to update these forward-looking statements, even if its situation may change in the future.

————————————————– ——————————

Item 9.01.   Financial Statements and Exhibits.

   Exhibit
     No.                                              Description
    10.1            Share Purchase Agreement, dated as of May 31, 2022, by and among, inter alios,
                    LNG Power Limited and the shareholders of DC Energia e Participações S.A.,
                    collectively as Sellers, and Eneva S.A., as Buyer (incorporated herein by
                    reference to Exhibit 10.38 of NFE's Current Report on Form 10-Q, filed on August
                    5, 2022).
    99.1              Press Release, dated October 3, 2022, issued by New Fortress Energy Inc.
     104            Cover Page Interactive Data File - the cover page XBRL tags are embedded within
                    the Inline XBRL document.



————————————————– ——————————

© Edgar Online, source Previews

Canadian oil and gas pipeline company TC Energy set to launch higher-flow solar battery project

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Energy infrastructure group TC Energy has begun work on a solar photovoltaic power plant in Alberta, Canada, the company’s first solar project.

While the first phase of TC Energy’s Saddlebrook Solar Project will see the installation of a solar system with 81 MW of bifacial solar photovoltaic modules. In the second, there will be added a flow battery supplied by Lockheed Martin, with an output of 6.5 MW and a capacity of 40 MWh, making it possible to send the stored solar power to the grid during peak hours.

TC Energy is primarily known for the development of energy infrastructure for natural gas and oil pipelines, but has secured contracts for 400MW of renewable energy through power purchase agreements (PPAs) signed over the past last two years.

Like many traditional energy companies, it is also considering getting into the hydrogen business and plans to build a 60-tonne-per-day hydrogen hub at one of its natural gas storage facilities.

The company said it would invest C$146 million (US$106.4 million) to build the Saddlebrook plant, located near the small Alberta town of Aldersyde in an industrial park.

All regulatory approvals and permits for the project have been obtained and TC Energy expects construction to be completed within the next year.

Provincial not-for-profit Emissions Reduction Alberta is supporting the project with C$10 million in funding. Some of Emissions Reduction Alberta’s money comes from contributions made by industry groups to partially offset their greenhouse gas (GHG) emitting activities, and to date, support for more than 100 projects has been promised.

As reported by Energy-Storage.news in December 2021, the funding is to help cover the cost of the flow battery energy storage system.

This will be one of the first deployments by Lockheed Martin of its new product, called Gridstar Flow, and following its Gridstar Lithium solution, already marketed and used at various sites.

The multinational aerospace, defense and engineering company acquired SunCatalyx, a flow battery company spun off from MIT labs, in 2014 and began developing what would become Gridstar Flow, announcing its first commercial-scale test at a Lockheed Martin lab in 2020.

This test began shortly after the company signed an agreement with TC Energy to explore potential sites in North America for a project, before settling in Saddlebrook. The University of Calgary will work with them to study system performance and see what can be learned about the suitability of solar power with energy storage for Canada’s energy transition.

One of two flow battery projects at solar power plants supported by funding from Emissions Reduction Alberta

Lockheed Martin is believed to be investing around C$9 million in the project. While at the time of the December 2021 announcement the photovoltaic capacity was 102.5 MW and the flow battery was described as a 6.5 MW / 52 MWh (eight hour) system, a webpage d The project information created by TC Energy puts the flow battery at 6.5MW/40MWh and the bifacial solar panel at 81MW instead.

Like multinational engineering colleague Honeywell, which also developed proprietary flow battery technology, Lockheed Martin has so far kept the Gridstar Flow chemistry firmly under wraps. In addition to Saddlebrook, Alberta, the company is also deploying a 1MW/10MWh system at Fort Carson, a US Army installation in Colorado, USA, where an 8.5MWh Gridstar Lithium system is already used.

Emissions Reduction Alberta is backing another solar-plus-storage project with a flow battery, this time with less mysterious electrolytic chemistry: British-American vanadium redox flow battery (VRFB) supplier Invinity Energy Systems will install one of its devices at Chappice Lake Solar +Storage.

In this case, Invinity will work with project developer Elemental Energy to deploy a 2.8 MW/8.4 MWh VRFB in a DC-coupled configuration at the new 21 MWp solar PV plant. Emissions Reduction Alberta will contribute an additional C$10 million to the projected total cost of C$40 million for Chappice Lake.

Alberta is the most coal-dependent province in Canada for its electricity and is home to a large fossil fuel industrial sector, including oil sands oil production. However, in recent years, the development of renewable energies and in particular solar plus storage and wind plus storage seems to have accelerated.

The province got its first large-scale battery system, at a wind farm, in 2020, and a few hundred megawatts of solar-plus-storage projects are under development. These include three solar parks with more than 700MW of photovoltaic generation capacity tied to 280MW of battery energy storage systems (BESS) from developers Greengate Power Corporation and Westbridge, as reported Energy-Storage.news in March of this year.

African Petroleum Producers Organization backs OPEC oil production cut

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CAPE TOWN, South Africa — The secretary general of APPO, the African Petroleum Producers Organization, has come out in support of OPEC’s recent decision to cut output by about 2%, on the sidelines of Africa Oil Week in Cape Town.


“It’s a decision well made,” said APPO Secretary General Dr. Omar Farouk Ibrahim. “I think it’s the right thing to do to save the industry and also to provide stability for today and tomorrow.”

The decision by OPEC, which includes major oil producers Russia and Saudi Arabia, as well as African countries and APPO members Nigeria, Algeria, Angola, Congo and Libya, saw the price of Brent crude oil rise 1.5% to over $93 a barrel.

“Every country has a responsibility to protect the interests of its citizens and if by cutting production they consider it to be in their best interests, so be it. When developed countries make decisions, they don’t sit and reflect [about] how this will affect developing countries. The interests of their citizens are paramount.

The OPEC (Organization of Petroleum Producing Countries) decision came after the 33rd OPEC and non-OPEC ministerial meeting on Wednesday. In a statement, the organization said it would “reduce overall production by 2mb/d, starting in November 2022”.

He said the adjustment was being made “in light of the uncertainty surrounding the global economy and oil market outlook, and the need to improve long-term guidance for the oil market.”

The move comes against the backdrop of a global economic slowdown, war in Ukraine and the recent G7 cap on the price of Russian oil exports, part of a new round of sanctions against Moscow.

Dr Ibrahim’s comments reflect a growing assertion among African oil producers that the region has the right to chart its own energy course.

Africa Oil Week, taking place in Cape Town this week, saw the continent speak with one voice on the defining energy challenge of our times: that Africa will determine how best to balance its own development with durability.

Keynote speakers, government officials, analysts, industry leaders and panelists all said the challenges of energy poverty are just as dangerous as the risks of climate change. In this context, Africa is best equipped to determine how it can meet its climate commitments while giving its people access to the energy needed to provide a better future for its people.

“We must all remember that more than half of the population of our continent does not have access to modern energy, especially electricity,” said HE Dr Amani Abou-Zeid, Commissioner for Infrastructure and Energy of the African Union Commission, official partners of Africa Oil Week. “Africa’s low levels of access to modern energy mean that Africa will have to use all forms of its abundant energy resources to meet its energy needs.

Abou-Zaid said the AU was guided by Africa’s Agenda 2063, a development plan that calls for universal access to affordable and reliable energy for production and domestic use in Africa.

The AU recently adopted the African Common Position on Energy Access and Just Transition, which charts Africa’s development pathways to accelerate universal energy access and transition without compromising its imperatives. of development.

Rashid Ali Abdallah, executive director of the AU’s African Energy Commission (AFREC), said Africa’s energy transition is about moving the continent from “no power to , to close the energy access gap”.

“Decarbonization or the goal of reaching zero emissions by 2050 is not suited to the African context,” he said. “It may be suitable for other parts of the world. For this reason, as Africa, we need to push development and exploration in the oil and gas market.

The AU estimates that more than 600 million Africans live without electricity, while 900 million lack access to clean cooking facilities. The African common position encourages finding a balance between ensuring access to electricity for socio-economic growth and the smooth transition to an energy system based on renewable energy sources.

Paul Sinclair, Vice President of Energy and Director of Government Relations, Africa Oil Week and Green Energy Africa, said, “We are delighted to have partnered with the AU this week to ensure we drive regional markets oil and gas in an Afrocentric energy transition”.

Hurricane Ian and climate change: the link is undeniable

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The terrible devastation wrought by Hurricane Ian on the southwest coast of Florida – among the most powerful hurricanes to hit Florida in a century – was heartbreaking to watch even from afar: so many lives lost, homes shattered and livelihoods swept away by storm surge, winds up to 150 miles per hour and torrential rains. The only solace was seeing Floridians rise to the challenge by working around the clock, united and determined to make things better for their neighbors.

In a disaster as terrible as this, an obvious question arises: what can be done to prevent such disastrous consequences of storms in the future? Officials in Florida and other states affected by Ian and the Atlantic hurricane season, including South Carolina, have begun taking stock of how evacuation orders have been handled and measures security taken. But one essential element is missing from these discussions: climate change.

Florida Governor Ron DeSantis has appointed men and women to help the state adapt to rising sea levels, protect its coasts and prepare for storms, but he and many Other Republicans in the state actively oppose efforts to reduce greenhouse gas emissions, often criticizing such talk. as left-wing fanaticism. They acknowledge that rising tides and deteriorating weather are real, but express no interest in reducing the man-made circumstances that scientists recognize as having made such events more powerful and more frequent.

Storms like Ian are intensified by warming oceans. It’s just a scientific fact. And the burning of fossil fuels has increased the levels of carbon and other harmful gases in the atmosphere so much that the greenhouse effect has worsened. It is also undeniable. So at what point does refusing to advocate for reducing greenhouse gas emissions cease to be a political double step for a man who wants to be the next president of the United States and, instead, becomes there some kind of suicidal pact? While it is certainly not in Florida’s power to reduce global carbon emissions, it is easily in the power of the state’s elected leaders and anyone else who cares about its residents to call for those reductions. at local, state, national and international levels. . Floridians facing a disaster should care enough to push for energy conservation or similar measures.

The timing stinks, of course. With the midterm elections fast approaching, it is difficult to get politicians to speak out on difficult topics in anything other than political party talking points. And it’s not even necessarily in the interest of Democrats to pressure a Republican-leaning state when needed. How does this translate to television – as compassion and wisdom or tight-rope politics? There is nothing wrong with focusing on the immediate needs of survivors. But if that’s all we do, what will it cost?

If events like this don’t rally Americans to the cause of fighting climate change, preventing future disasters, we will lose far more lives than there were in Florida last week. as the effects of runaway climate change continue.

Warning signs are everywhere. Floridians trusted the science of weather forecasting and it saved lives. To ignore the science of climate change now would be to give credence to the claim that it’s all about politics, not facts. And the resulting evil extends far beyond the Florida shores.

— The Baltimore Sun

Republic Services and Archaea Energy Announce Tennessee RNG Project

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By Republic Services Inc. | October 05, 2022

Republic Services, an environmental services industry leader, and Archaea Energy, the first producer of renewable natural gas (RNG) in the United States, announced on October 4 their intention to develop an RNG facility at Middle Point Landfill by through companies. ‘Lightning Renewables LLC joint venture. The project will convert the gas that occurs naturally when waste in place at the Middle Point landfill decomposes into pipeline-grade RNG that can be used as a low-carbon alternative to fossil fuels.

After hearing from Rutherford County officials about their continued interest in a local renewable energy project, the Republic-Archaea partnership will help bring this idea to life. “At Republic Services, we put sustainability into action through partnerships and projects like this one at Middle Point Landfill,” said Jamey Amick, regional president of Republic Services. “Combined with the significant investments we have made in the landfill gas system to control the potential for off-site odors, this project will further propel on-site gas collection. We know how important sustainability is to this community, and we are excited to bring this innovative solution to Rutherford County and Central Tennessee.”

“Republic has appeared before the county public works committee several times since 2018. We told them the county wanted renewable energy, and they did,” County Commissioner Craig Harris said. “We are excited that they are investing in new technology at Middle Point Landfill as a sustainable landfill gas solution. It shows Republic is making great strides in having a better relationship with the county in the future.”

“We are excited to move forward with our joint venture projects with Republic Services, including this project at Middle Point Landfill,” said Nick Stork, co-founder and CEO of Archaea. “We are aligned with Republic Services in their vision to have a meaningful sustainability impact in local communities and contribute to larger-scale climate solutions.”

The Middle Point Landfill gas-to-RNG project will create clean energy resources, further control the potential for offsite odors, and help reduce greenhouse gas emissions, while directly contributing to the goal of long-term sustainability. Republic Services term to beneficially reuse 50% more biogas by 2030. RNG projects provide significant local and global environmental benefits with little or no negative impacts to the local community.

Using EPA estimates, the Project’s projected total annual environmental benefits will be equivalent to the carbon sequestered by more than 800,000 acres of US forests in one year.

The previously announced Lightning Renewables, LLC joint venture includes plans to develop 39 new RNG projects at landfills owned or operated by Republic Services across the country. The Middle Point project is part of the first phase of the joint venture’s development. This RNG partnership builds on Republic’s growing list of environmental commitments, including fleet electrification and investments in plastics circularity, to create a more sustainable world.

Republic Services is involved in 77 renewable energy projects at its landfills across the country, which generate electricity as well as RNG and help customers and communities meet their own sustainability goals. When used as a transport fuel, RNG can reduce emissions by up to 70%. Today, RNG powers 21% of Republic’s fleet.

For more information on Republic Services’ sustainability platform and industry-leading climate goals, visit RepublicServices.com/sustainability.

Archaea operates 13 RNG facilities across the United States and has a strong RNG development backlog of around 90 projects, which it plans to develop and build over the next few years. Archaea develops, designs, builds and operates RNG facilities using an innovative and cost-effective manufacturing approach to project development, supported by a commercial strategy focused on long-term fixed-price contracts. Archaea’s renewable energy projects provide a sustainable, reliable, multi-decade decarbonization solution for local and global communities

Ashurst advises Octopus Energy on third wind farm investment in Germany

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Ashurst advised Octopus Energy Generation (Octopus Energy) on the acquisition of the Biebelnheim-Gabsheim wind farm on behalf of the Sky fund (ORI SCSp). The sellers of the joint project are the German renewable energy developers JUWI and wiwi consult.

The wind farm with a capacity of 22.4 MW is currently under construction in Wörrstadt (Rhineland-Palatinate / Germany) near Frankfurt and will be operational in 2023 with 4 Vestas V-150 turbines. The acquisition follows the acquisition of the Gaishecke and Leeskow wind farms by Octopus Energy earlier this year. By 2030, Octopus Energy plans to operate up to 1.2 GW of wind and solar farms across Germany.

Octopus Energy is one of the largest investors in solar and wind energy in Europe and currently manages 3 GW of renewable energy assets. Ashurst previously advised Octopus Energy on its entry into the German onshore wind market via the acquisition of the Gaishecke wind farm as well as on the subsequent acquisition of the Leeskow wind farm.

The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy) and Dr Benedikt von Schorlemer (M&A). They were assisted by lawyer Holger Mlynek (Commercial Contracts) as well as partners Dr Simon Groneberg (Energy/Regulatory), Jan Ischreyt and Friederike Preyer (both M&A). Tax law advice was provided by a BDO team led by Dr. Michael Brauer and Christian Richter.

/Public release. This material from the original organization/authors may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the authors.

FuelCell Energy: Project Update – Groton Sub Base – The Groton Project – Form 8-K

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UNITED STATES

SAFETY AND EXCHANGES COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to section 13 or 15(d) of the

Stock Exchange Act of 1934

Report Date (Date of First Reported Event): September 29, 2022

FUELCELL ENERGY, INC.

(Exact name of the holder as specified in his charter)

Delaware

1-14204

06-0853042

(State or other jurisdiction of

Incorporation)

(Commission

File number)

(IRS Employer

ID number.)

3 Route of the Great Pastures,

Danbury, Connecticut

06810

(Address of main executive offices)

(Postal code)

Holder’s telephone number, including area code: (203)825-6000

Not applicable

(Former name or address, if changed since last report)

Check the appropriate box below if the filing of Form 8-K is intended to concurrently satisfy the filer’s filing obligation under any of the following provisions:

Written communications pursuant to Rule 425 of the Securities Act (17 CFR 230.425)

Solicit material in accordance with Rule 14a-12 of the Exchange Act (17 CFR 240.14a-12)

Pre-opening communications pursuant to Rule 14d-2(b) of the Exchange Act (17 CFR 240.14d-2(b))

Pre-opening communications pursuant to Rule 13e-4(c) of the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange listed on

Common shares, par value of $0.0001 per share

FCEL

The Nasdaq Stock Market LLC
(Nasdaq global market)

Indicate with a check mark whether the registrant is an emerging growth company within the meaning of Rule 405 of the Securities Act of 1933 (§230.405 of this Chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b- 2 of this chapter).

Growing emerging company

If the company is an emerging growth company, indicate with a check mark whether the registrant has elected not to use the extended transition period to comply with new or revised financial accounting standards under the section 13(a) of the Exchange Act.

Item 8.01.Other events.

Project Update – Groton Sub Base – The Groton Project

As previously reported in its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2022, upon restarting the commissioning process for the 7.4 MW platform at the US Navy in Groton, Connecticut (the “Project Groton”), FuelCell Energy, Inc. (the “Company”) experienced performance anomalies primarily in the Mixer Ejector Oxidizer (“MEO”), which is a Sophisticated Groton project-specific equipment designed to optimize fuel and airflow within the rig. The company further disclosed that it was in talks with the Connecticut Municipal Electric Energy Cooperative (“CMEEC”) and the United States Navy about operating the project at a reduced power of 3.0 MW per platform ( a total system power of 6.0 MW) at the start of commercial operations in order to optimize the performance of each of the two MEO units while implementing upgrades of each of the two MEO units. The upgrades should bring the system to peak production in about a year.

On September 29, 2022, the United States Navy granted an extension of the deadline by which commercial operations must be completed at the Groton Project from September 30, 2022 to November 30, 2022. The Groton Project has completed operations at approximately 6.0 MW and has passed a seven-day performance test required by the US Navy and is therefore operating at the level at which the company has proposed to begin commercial operations. However, the Company requires CMEEC and US Navy approval to begin commercial operations at reduced production. Although discussions are progressing, there can be no assurance that CMEEC and the US Navy will provide such final approval to begin commercial operations at 6.0 MW.

In addition, as previously disclosed, in August 2021, the Company entered into a tax equity financing transaction with East West Bancorp, Inc. (“East West Bank”) for the Groton project. East West Bank’s tax fairness pledge is $15 million. As part of the initial closing, the Company drew $3.0 million. Under the original terms of the Company’s agreement with East West Bank, the Company would have been eligible to draw down the remaining amount of the commitment, approximately $12 million, once the Groton project reaches commercial operation. In addition, under the original terms of the Company’s agreement with East West Bank, the Groton Project had a required commercial exploitation deadline of October 18, 2021. East West Bank granted several extensions to the exploitation deadline. trade, who collectively extended the deadline to May. 15, 2022, in exchange for a total fee of $0.4 million. Since business operations were delayed beyond May 15, 2022, East West Bank had a conditional withdrawal right to request the return of its investment in an amount equal to 101% of the investment amount.

On July 7, 2022, the Company and East West Bank amended their tax equity financing agreement. Under this amended agreement, the deadline for trade operations has been extended to September 30, 2022. In addition, the terms of East West Bank’s remaining investment commitment of $12.0 million have been amended so that East West Bank will contribute $4.0 million on each of the first, second and third anniversaries of commercial operation of the Groton Project, rather than contributing the full $12.0 million when the Groton Project will reach commercial exploitation. These contributions are subject to certain conditions precedent from the customer, including certification by an independent third party that the plant is operating in accordance with the power purchase agreement. Along with this amendment, the Company agreed to an aggregate fee of $0.5 million (which includes the costs of the previous extensions described above), which will be payable by the Company upon commencement of commercial operations of the plant.

The Company continues to provide periodic updates to East West Bank regarding its discussions with CMEEC and the US Navy regarding the commencement of commercial operations at the Groton Project at approximately 6.0 MW and has advised East West Bank of receipt by the US Navy of an extension of the deadline for commercial operations until November 30, 2022.

On October 4, 2022, the Company and East West Bank further amended their tax equity financing agreement to extend the deadline by which commercial operations must be completed at the Groton Project from September 30, 2022 to November 30, 2022. If the project has not completed commercial operations by November 30, 2022, East West Bank will then have a conditional withdrawal right to request the return of its investment in an amount equal to 101% of the amount of the investment. In addition, changes to the Groton Project documents between CMEEC and the Company following an agreement to commence operations at less than 7.4 MW may require East West Bank’s approval under the rights of East West Bank under the agreement between East West Bank and the Company. If such approval is required, the Company cannot guarantee that East West Bank will give its approval.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be executed on its behalf by the duly authorized undersigned.

FUELCELL ENERGY, INC.

Date: October 4, 2022

By:

/s/ Michael S. Bishop

Michael S. Bishop

Executive Vice President and Chief Financial Officer

Disclaimer

FuelCell Energy Inc. published this content on October 04, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on October 04, 2022 21:21:03 UTC.

Public now 2022

All news about FUELCELL ENERGY, INC.

Analyst Recommendations for FUELCELL ENERGY, INC.

2022 sales 137M

2022 net income -129M

Net cash 2022 311M

PER 2022 ratio -10.4x
2022 return
Capitalization 1,419 million
1,419 million
EV / Sales 2022 8.09x
EV / Sales 2023 8.06x
# of employees 384
Floating 96.7%

Chart FUELCELL ENERGY, INC.


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Trends in FUELCELL ENERGY, INC. Technical Analysis

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Evolution of the income statement

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Medium consensus HOLD
Number of analysts ten
Last closing price $3.50
Average target price $4.16
Average Spread / Target 18.8%


AEP signs an agreement to sell its operations in Kentucky

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Posted on October 04, 2022 by Dave Kovaleski

© Shutterstock

American Electric Power has signed an amended agreement to sell its Kentucky operations to Liberty.

Liberty will acquire AEP’s Kentucky operations by purchasing all of the shares of Kentucky Power and AEP Kentucky Transco for a discounted price of $2.646 billion under the amended agreement. AEP expects to raise approximately $1.2 billion in cash, net of taxes and fees.

“I want to thank the Kentucky employees for their continued focus on providing safe and reliable power to customers. This sale will provide significant benefits to Eastern Kentucky customers to help offset fuel price volatility and support economic growth. It will also support AEP’s ability to invest in projects across our regulated businesses that will transition to a cleaner, more reliable and resilient energy system,” said AEP Chairman and CEO Nicholas Akins. .

The sale is expected to close in January 2023 following approval of the transaction by the Federal Energy Regulatory Commission (FERC).

“The updated timeline for the closing of the sale will not impact our projected equity requirements or the operating profit guidance we have provided,” the President and CEO said. from AEP, Julie Sloat. “We look forward to receiving FERC’s approval and finalizing the transaction to allow customers to begin enjoying the benefits.”

Liberty, the regulated utility company of Algonquin Power & Utilities Corp., previously announced that David Swain will lead Kentucky operations when the transaction closes.

Additionally, AEP announced that Brett Mattison, president and chief operating officer (COO) of Kentucky Power, has been named president and COO of Southwestern Electric Power Company, effective January 1. Mattison succeeds Malcolm Smoak, who is retiring.

DCNR Announces Guidance for Planners Seeking to Generate Clean Renewable Energy Through Grid-Scale Solar Installations

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Harrisburg, Pennsylvania — As interest in harnessing energy through solar power grows, Department of Conservation and Natural Resources (DCNR) Secretary Cindy Adams Dunn today announced that the Department had developed guidelines for landowners, developers, planners and local officials considering building grid-scale solar installations.

A grid-scale solar installation is an installation that generates energy from the sun and feeds it into the electrical grid, supplying power to a utility.

“As Pennsylvania’s conservation leader and Commonwealth Natural Resources Administrator, DCNR has developed guidance for landowners, developers, planners and local officials for siting and construction of solar projects in the ‘network-wide,’ Dunn said. “The department supports the advancement of grid-scale solar energy that avoids or limits impacts on forests, wildlife, and water.”

Dunn added that renewable energy alternatives, such as solar power, help mitigate the impacts of climate change and reduce Commonwealth greenhouse gas emissions.

The announcement was made on the first day of the Sustainability Summit organized by the GreenGov Council.

The new resource, Conservation Considerations for Siting, Planning, and Maintaining Grid-Scale Solar Systems in Pennsylvania (PDF) includes a number of key resources for informed planning and decision-making.

The document’s recommendations present 10 considerations for implementing best practices and eight for sustainable design. They understand:

  • Prioritize the conservation and protection of mature forests, recreational lands, wildlife and plant habitats and vital ecosystems;
  • Prioritize implantation on already disturbed land;
  • Co-locate close to existing energy infrastructure;
  • Avoid and minimize erosion and sedimentation;
  • Actively protect and restore wildlife habitat to include and support native species; and
  • Include dismantling which restores the land to the same condition as before.

Grid-scale solar installations are not permitted on DCNR land, or land that has received DCNR grant funds.

The guidance document is intended to help landowners, municipal officials, developers, investors and planners make informed decisions about the location and development of grid-scale solar energy.

Using clean energy from the sun, the department deploys small-scale solar panels to take certain buildings and facilities off the grid, saving money and reducing DCNR’s carbon footprint.

In state parks and forests, there are currently 23 solar panel installations.

By 2030, DCNR will derive all of its electricity from renewable energies, around half of which will come from solar installations.

Learn more about the department’s sustainable practices on the DCNR website.

MEDIA CONTACT: Wesley Robinson, 717-877-6315

# # #

Green option: government tender for 3,500 electric motor vehicles soon

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The Center plans to replace the government’s fleet of petrol and diesel cars with electric powertrain vehicles, and the exercise will begin with issuing a tender for the purchase of 3,500 EV units shortly.

Convergence Energy Services (CESL), the state-owned company that handles the acquisition of electric vehicles for central and state government departments, said the size of the program could expand as more vehicles come in. electric cars are launched by automakers at the affordable end of the market. . The central and state governments have a combined fleet of approximately 600,000 gasoline and diesel cars.

CESL chief executive Mahua Acharya told ET that the company had received a “qualified” request for 3,500 electric vehicles, which could go out to tender shortly.

“Additionally, there is an opportunity to increase the penetration of electric vehicles in the fleet segment. Considering usage patterns and economics, fleet is one area where 4W EV sales can take off with more options introduced to the mass market,” Acharya said.

CESL’s new tender comes at a time when EV adoption is gaining momentum in the passenger vehicle space. The passenger vehicle electric vehicle market is expected to cross 50,000 units for the first time.

While qualified demand is 3,500, very quickly the number could rise to 10,000 vehicles within two years, she added.

Last week, Tata Motors broke the sub-Rs 10 lakh barrier in EV pricing with the launch of Tiago at a disruptive price of ₹8.49-11.79 lakh (ex-showroom) for the first 10,000 buyers. The company also offers electric variants of the Nexon SUV and the Tigor sedan, at present. Tata Motors is expected to release Altroz ​​EV and Punch EV over the next year, expanding choices for consumers in the sub-₹15 lakh market.

According to Acharya, the sweet spot of electric vehicles for government employees is around ₹15-17 lakh. “We only have a few models on the road. When we offer options, very few are accessible.”

For the Indian government, the ideal affordability replacement level is ₹15-17 lakhs – the current Nexon EV works very well, Acharya believes.

Overall, nearly 20 EVs are expected to hit Indian roads over the next three years.

NNPC acquires assets of OVH Energy Marketing – WorldStage

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Senator Margery Okadigbo, Chairman of the Board of NNPC Ltd, Malam Mele Kyari, GCEO NNPC with other officials during the unveiling of the acquisition of OVH energy, operators of Oando

WorldStage Newsonline– The Nigerian National Petroleum Company Limited (NNPC LTD.) has completed the acquisition of the downstream assets of OVH Energy Marketing Limited (OVHEM) under an Accelerated Network Expansion (ANEX) initiative.

Unveiling the acquisition on Saturday in Abuja, Senator Margery Okadigbo, Chairman of the Board of NNPC Ltd, said it would strengthen the downstream business portfolio to improve profitability and ensure national energy security.

The acquisition of downstream assets that came from OVHEM, operator of Oando service stations, includes a reception jetty (ASPM) with a monthly capacity of 240,000 MT and eight LPG plants.

Others include three lubricant blending plants, three aviation depots and 12 warehouses.

Okadigbo said the acquisition would bring more than 380 additional service stations under the NNPC Retail brand in Nigeria and Togo to reach 1,500 stations.

“We will be the largest petroleum products retail network in Africa. We are going to have the largest collection of gas stations in Africa.

“OVH has given us so much to take care of the investment that we have you on the package to continue working with us,” Okadigbo said.

Malam Mele Kyari, Group Managing Director of NNPC Ltd. (GCEO), said the merger was feasible due to NNPC Ltd’s robust system and network, being an institution with the capabilities to deliver to shareholders.

Kyari said the acquisition was in line with President Muhammadu Buhari’s zeal for NNPC to consistently deliver Nigeria’s energy security, which involved accessing commodities and managing every transition.

“Through this merger, we are the largest downstream company with a strong network in the country and in Africa.

“It’s a way to ensure that we deliver the energy transition in the country.

“We will use it to market liquefied petroleum gas (LPG) and compressed natural gas (CNG).

“Poor citizens who depend on biomass for cooking. 70% of Nigerians lack access to a clean cooking fuel downstream business with a strong network in the country and in Africa. This is an opportunity for us to use this privilege and extend it.

“Today, what we have struggled for years has been achieved. We will bring value to our stakeholders and secure energy for all,” he said.

In a remark, Huub Stokman, CEO of OVH, said the company was excited about the future potential and capabilities of the combined entity and was ready to bring efficiencies to cutting-edge businesses.

Stokman said this acquisition from NNPC, which would transform the downstream power sector in West Africa, came at a critical time in the Nigerian power sector and in light of the enactment of the Petroleum Industry Act 2021 (PIA).

“As demand continues to increase, there should also be a deliberate effort to increase the supply of natural gas energy transition consumption.

“The combined entity will be well positioned to take advantage of these opportunities in a way that will have a truly positive impact on the downstream oil and gas sector,” he said.

Vermilion Energy Inc. (TSE:VET) Senior Executive Sells C$225,000.00 of Stock

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Vermilion Energy Inc. (TSE: VET – Get Rating) (NYSE: VET) Senior Officer Gerard Schut sold 7,500 shares of the company in a trade on Friday, September 30. The shares were sold at an average price of CA$30.00, for a total value of CA$225,000.00. Following the completion of the sale, the insider now owns 81,109 shares of the company, valued at C$2,433,270.

Vermilion Energy Price Performance

Vermilion Energy stock traded C$0.55 midday Friday, hitting C$29.57. The company’s shares had a trading volume of 1,649,304 shares, compared to its average volume of 2,021,376. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt of 58.90. The stock’s 50-day moving average price is C$32.01 and its 200-day moving average price is C$28.44. Vermilion Energy Inc. has a 12-month low of CA$11.15 and a 12-month high of CA$39.21. The company has a market capitalization of C$4.85 billion and a PE ratio of 6.50.

Vermilion Energy increases its dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17. Shareholders of record on Friday, September 30 will receive a dividend of $0.08. The ex-date of this dividend is Thursday, September 29. This is a boost from Vermilion Energy’s previous quarterly dividend of $0.06. This represents an annualized dividend of $0.32 and a yield of 1.08%. Vermilion Energy’s payout ratio is 2.64%.

Wall Street analysts predict growth

A number of research companies have published reports on VET. CIBC raised its target price on Vermilion Energy from CA$34.00 to CA$36.00 in a Monday, August 22 research note. ATB Capital raised its target price on Vermilion Energy from CA$31.00 to CA$36.00 and gave the company an “na” rating in a Thursday, June 2 research note. TD Securities raised its target price on Vermilion Energy from C$40.00 to C$45.00 and gave the company a “buy” rating in a Friday, Aug. 12 research note. BMO Capital Markets raised its price target on Vermilion Energy shares from C$35.00 to C$40.00 in a Friday, August 12 research note. Finally, Scotiabank downgraded shares of Vermilion Energy from an “outperform” rating to an “sector performance” rating in a Friday, September 16 research note. Three research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$38.09.

Vermilion Energy Company Profile

(Get a rating)

Vermilion Energy Inc, together with its subsidiaries, engages in the acquisition, exploration, development and production of oil and natural gas in North America, Europe and Australia. The Company has an 81% working interest in 636,714 net acres of developed land and an 85% working interest in 301,026 net acres of undeveloped land in Canada; 130,715 net acres of land in the Powder River Basin in the United States; Working interest of 96% in 248,873 net acres of built land and working interest of 86% in 134,160 net acres of undeveloped land in the Aquitaine and Paris basins in France; 53% working interest in 901,791 net acres of land in the Netherlands; 54,625 net acres developed and 920,723 net acres undeveloped in Germany; 975,375 net acres of land in Croatia; 946,666 net acres of land in Hungary; and 48,954 net acres of land in Slovakia.

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Can green hydrogen help decarbonize China’s heavy industry?

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New research published in natural energy highlighted how China’s economy can use green hydrogen to decarbonize the heavy industry sector, helping to achieve the country’s decarbonization commitments for 2030 and 2060.

“Hard to reduce” (HTA) sectors, such as iron, steel, cement, chemicals and building materials, are highly dependent on fossil fuels and account for around 30% of global annual CO2 emissions. The largest MV sector is heavy transport, which is more difficult to electrify than passenger transport because it requires huge batteries that add to vehicle weight and take a long time to charge.

China has pledged to become net zero by 2060, but is by far the largest producer of iron, steel and building materials.

The study is the first of its kind to assess the use of green hydrogen in China’s energy system and economy.

Reduce CO from China2 emissions

The study assessed three questions: What are the main challenges of decarbonizing MV sectors? What are the potential roles of clean hydrogen both as an energy carrier and as a raw material in the MV sectors? And would the widespread application of clean hydrogen in the MV sectors be profitable compared to other options?

Xi Yang, lead author of the study, explained, “Filling this research gap will help chart a clearer roadmap for China’s CO.2 emission reductions. Our goal with this study was to envision a role for clean hydrogen in China’s energy economy, which can then provide a benchmark for other developing economies with large heavy industry and transportation sectors. .

While decarbonizing MV sectors is key to achieving a net zero economy, it also has other benefits. New markets for green hydrogen could contribute to the transition of the electricity system towards renewable resources.

Green hydrogen production would achieve this goal by providing a more flexible form of electricity demand. Unlike other supplies, it can be scheduled on short notice. This is valuable for grid operators as it helps them adapt to the variability of renewable energy sources as they are affected by changing weather conditions.

Green vs Blue Hydrogen

As part of the study, the researchers investigated whether green or blue hydrogen would be more cost-effective. The study leans towards green hydrogen, indicating that the average cost of green hydrogen in China can be reduced to two dollars per kilogram of hydrogen by 2037. Moreover, it could be further reduced by 2050 , amounting to $1.2 per kg. This is more cost effective than blue hydrogen, which would cost $1.9 per kg.

“China has rich untapped resources of solar and wind energy, both onshore and offshore,” said Chris P Nielsen, co-author of the paper and executive director of the Harvard-China Project.

“These resources give China advantages to develop green hydrogen for use in its industrial and transportation sectors.”

Forum discusses China-LAC cooperation – Xinhua English.news.cn

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A smart container terminal at the port of Tianjin, north China’s Tianjin, Jan. 17, 2021. [Photo/Xinhua]

Nation helps Latin American countries build high-quality infrastructure with green initiatives

Closer cooperation between China and Latin American countries will bring high-quality infrastructure with green initiatives, speakers said at a forum in Macau on Wednesday and Thursday.

At the 8th China-LAC Infrastructure Forum, Argentine Transport Minister Alexis Guerrera said via video link that China has provided support and assistance to Argentina at a time when the Latin American country is in dire need. urgent to promote production and export earnings.

China has provided Argentina with “funding, knowledge and technical support to help Argentinian products be transported more efficiently and people travel faster, more comfortably and safely”, he said. .

Vice Commerce Minister Wang Shouwen said infrastructure development is a key area and priority in China-LAC trade and economic cooperation.

In 2021, China-LAC trade exceeded $450 billion for the first time, up 41.1%. China’s direct investment in LAC countries increased by 57% last year.

Juan Fernando Lugris Rodriguez, Uruguay’s Ambassador to China, said that in the post-pandemic era, Uruguay will play a very important role in traditional and digital infrastructure.

Uruguay, a country rich in natural resources and with a young population, will play a greater role with its dynamic economy, he said. “We have many business opportunities to work with China, including investments in new infrastructure development.”

Anyin Choo, Guyana’s ambassador to China, said Chinese investment in her country has also increased in recent years, contributing to growth and ensuring job creation, socio-economic development and market opportunities, a- she declared.

“This means that Guyana now needs infrastructure development, which is driving its transformation needs,” Choo said.

Salvadoran Ambassador to China Aldonov Frankeko Alvarez told the forum that China is a global power and Latin America’s trade with it supports the region’s economic prosperity.

“We welcome a variety of new types of investments, such as mining, telecommunications, energy, green innovation and connectivity,” Ecuadorian Ambassador to China Carlos Larrea Davila said.

Ecuador has existing projects worth 38 billion dollars and the investments are very diverse, such as in the cooperation between government and companies. More than 100 Chinese companies have operations in Ecuador, and China is Ecuador’s main partner, he said.

Xin Xiuming, vice president of the China Association of International Contractors, said building green, environmentally friendly and sustainable infrastructure has become a hot topic in international infrastructure.

“The joint efforts of Chinese and Latin American enterprises in the fields of green infrastructure, green energy and green finance to strengthen cooperation in energy conservation and emission reduction will help both sides to achieve the goal of peak carbon and carbon neutrality,” Xin said.

And promoting cooperation between China and Latin America in digital transformation is also important in infrastructure cooperation, he said.

The energy sector is exception A in the lackluster IPO market

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In more ways than one, the IPO market isn’t quite what it was a decade or two ago. The proportion of U.S. companies choosing to go public has been steadily declining for more than two decades now, with startups often choosing to sell to bigger companies or stay private. Many observers have squarely blamed this unfortunate trend on increased bureaucracy, including increased regulatory and disclosure costs. Indeed, the number of public companies listed on US stock exchanges has reduced by nearly 50% since its peak in 1996, despite a dramatic increase overall market capitalization.

This trend does not seem to be abating, the number of new filings in the IPO market downward trend for most of 2022.

That said, the energy sector turns out to be a different beast. Bloomberg reported that four energy companies have filed for IPOs in the current month, effectively July 2019 for the most in over five years.

Here’s a look at this month’s deposits:

  • MN8 Energy Inc–MN8 Energy, Inc. (MNX) operates as a renewable energy company and offers solar power generation and storage solutions. MN8 Energy serves customers in the United States. hMN8 Energy has filed to raise $100 million in an IPO of its common stock, according to an S-1 registration statement.
  • Solarjuice Co LtdSolarjuice Co., Ltd (SJA) distributes renewable energy equipment. The company offers photovoltaic solar panels, inverters, components and complete solar systems. Solarjuice serves customers in Australia. Solarjuice has applied to raise an undisclosed amount in an IPO of its common stock, according to an F-1 registration statement.
  • ASP Isotopes IncASP Isotopes Inc (ASPI) operates a pre-commercial advanced materials business. The company is focused on the production of high-value, low-volume isotopes for the medical, nuclear and other industries. ASP Isotopes serves customers worldwide. ASP Isotopes has applied for $30 million in funding in an IPO of its common stock, according to an S-1 registration statement.
  • Trio Petroleum Corp.Trio Petroleum Corp (TPET) is an oil and gas exploration company with leasehold interests in Monterey County, California. Trio Petroleum Corp. has filed a request to raise an undisclosed amount in connection with an IPO of its common stock, according to an S-1 registration statement.

The few energy companies that have signed up so far this year have been mixed. Manufacturer of energy storage systems NeoVolta Inc. (NASDAQ: NEOV) saw its shares drop 13% on its first day as a public company. However, the shares managed to rally and are currently trading 23% above the IPO price.

Shares of excel energy (NYSE:EE), an LNG solutions provider, climbed 12% on IPO day but fell back and is currently trading just 1.9% above the IPO price .

Related: Oil Prices Are About To Reverse

ProFrac Holding Corp. (NASDAQ: PFHC) is a vertically integrated energy services company that operates through three segments: stimulation services, manufacturing and proppant production. The company went public on May 13, 2022 but failed to capture the imagination of the investor universe. Shares of PFHC closed just 0.6% above their offer price on Day 1, but have since slipped 5.9%.

Oil & Gas Mergers & Acquisitions

MKM Holdings LLC analyst Leo Mariani told Bloomberg that despite setting records, energy IPOs are still rare, mainly because private companies choose to sell to larger competitors, instead of becoming public themselves. He also noted that oil and gas producers are still heavily discounted, making new IPOs less attractive than buyouts.

Indeed, the energy analysis company Enervous reported that transactions by private equity firms have seen a significant increase as they have purchased assets that oil companies considered non-essential to their development plans. These assets tended to be outside of oil-prolific areas like the Permian Basin of West Texas and New Mexico.

Private equity still has some dry powder for deals. They use it to target assets labeled as non-core by public companies. Once you get out of the heart of the Permian Basin and a few other key areas, the competition for bids lessens, and these positions are often available at buyer-friendly prices,remarked Dittmar.

Additionally, private equity is turning to a lender of last resort for fossil fuel companies. As companies like GS have cut funding for fossil fuels, the massive private equity industry is happily taking their place. According to a recent analysis from the Private Equity Stakeholder Project and the Americans for Financial Reform Education Fund (AFREF), the eight largest buyout firms have invested nearly as much money in coal, oil and gas as the big bank.

According to nonprofit groups, private equity firms, which include Global Apollo Management, Blackstone Group, Brookfield Asset Management, Carlyle Group, KKR and Pincus Warbugcollectively oversee $216 billion in fossil fuel assets, on par with the amount of money big banks invested in fossil fuels last year.

Another surprising finding: the 10 largest private equity funds have 80% of their energy investments in fossil fuels.

The billions of dollars that private equity firms have deployed to drill, fracture, transport, store, refine fossil fuels and generate energy, stands in stark contrast to what climate scientists and international policymakers have called to align our trajectory. on the 1.5 degree Celsius warming scenario“, declares a report co-signed by major climate groups including Greenpeace, Natural Resources Defense Project, Sierra Club and Sunrise Project.

By Alex Kimani for Oilprice.com

More reading on Oilprice.com:

Brookfield Renewable invests $1.54 billion in buyouts to boost its clean energy portfolio

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Sept 29 (Reuters) – Brookfield Renewable Corp (BEPC.N) on Thursday announced the acquisition of two clean energy companies for around $1.54 billion as the alternative energy investor seeks to expand its portfolio of renewable energies.

Brookfield said it would acquire Scout Clean Energy from investment manager Quinbrook Infrastructure Partners for $1 billion, while it completed the takeover of Standard Solar for about $540 million.

It comes a month after the passage of the $430 billion Cut Inflation Act, billed as the biggest climate change package in US history, which led to an increase in transactions in the renewable energy sector, as it offers substantial tax credits for up to a decade.

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“We underwrote both transactions without the benefit of the Cut Inflation Act, so the additional incentives now available represent a significant boost for every business,” said Connor Teskey, CEO of Brookfield Renewable.

Brookfield Renewable, a unit of Brookfield Asset Management Inc, said it may also invest $350 million and $160 million in Scout and Standard Solar, respectively.

Colorado-based Scout’s portfolio includes more than 1,200 megawatts (MW) of operational wind assets and a pipeline of more than 22 GW of wind, solar and storage projects in 24 states, including nearly 2,500 MW of projects under construction and at an advanced stage.

Standard Solar, based in Maryland, has approximately 500 MW of operational and construction assets and a development pipeline of nearly 2,000 MW.

Bermuda-based Brookfield owns and operates a diversified renewable energy portfolio of nearly 65 GW in the United States and has invested or allocated $3.5 billion in the North American clean energy sector this year.

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Reporting by Ankit Kumar and Ruhi Soni; Editing by Vinay Dwivedi

Our standards: The Thomson Reuters Trust Principles.

Cenovus Energy Inc. (NYSE:CVE) Receives Consensus “Buy” Rating from Brokers

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Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) has received an average “Buy” rating from the fourteen research firms that currently cover the company, MarketBeat.com reports. Eight analysts rated the stock with a buy recommendation. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $26.13.

Several equity research analysts have published CVE stock reports. National Bank Financial lowered its price target on Cenovus Energy from CA$41.00 to CA$38.00 in a report released Monday, July 18. Credit Suisse Group reissued an “outperform” rating and set a price target of $37.00 on Cenovus Energy shares in a Thursday, August 11 research report. Finally, Scotiabank raised its price target on Cenovus Energy from C$25.00 to C$34.00 in a Wednesday, June 8 research report.

Cenovus Energy Institutional Negotiation

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. GQG Partners LLC acquired a new stake in Cenovus Energy during Q2 for a value of approximately $609,445,000. Egerton Capital UK LLP purchased a new equity stake in Cenovus Energy during the second quarter valued at approximately $348,567,000. Soroban Capital Partners LP purchased a new stake in shares of Cenovus Energy during the fourth quarter valued at approximately $133,533,000. Capital World Investors increased its position in Cenovus Energy shares by 71.2% during the fourth quarter. Capital World Investors now owns 21,911,708 shares of the oil and gas company valued at $268,667,000 after acquiring 9,113,090 additional shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Cenovus Energy by 68.8% during the first quarter. Wellington Management Group LLP now owns 19,871,360 shares of the oil and gas company valued at $331,500,000 after purchasing an additional 8,098,474 shares during the period. 50.30% of the shares are held by institutional investors.

Cenovus Energy Price Performance

Shares of CVE opened at $15.61 on Thursday. The stock’s fifty-day simple moving average is $18.01 and its 200-day simple moving average is $18.58. The company has a debt ratio of 0.44, a current ratio of 1.73 and a quick ratio of 1.14. The company has a market capitalization of $30.14 billion, a price-earnings ratio of 9.76 and a beta of 2.30. Cenovus Energy has a one-year low of $9.76 and a one-year high of $24.91.

Cenovus Energy Inc (NYSE:CVE – Get Rating) (TSE:CVE) last released its quarterly results on Thursday, July 28. The oil and gas company reported EPS of $0.93 for the quarter, beating analyst consensus estimates of $0.89 by $0.04. Cenovus Energy had a return on equity of 23.47% and a net margin of 6.51%. The company posted revenue of $15.02 billion for the quarter, versus analyst estimates of $13.16 billion. On average, analysts expect Cenovus Energy to post earnings per share of 3.41 for the current fiscal year.

Cenovus Energy cuts its dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29. Shareholders of record on Thursday, September 15 will receive a dividend of $0.0814. This represents a dividend of $0.33 on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, September 14. Cenovus Energy’s dividend payout ratio is 20.00%.

Cenovus Energy Company Profile

(Get a rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces and markets crude oil, natural gas liquids and natural gas in Canada, the United States and the Asia-Pacific region. The company operates in the oil sands, conventional, offshore, Canadian manufacturing, US manufacturing and retail sectors.

Further reading

Analyst Recommendations for Cenovus Energy (NYSE: CVE)

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Ensign Energy Services Inc. (TSE:ESI) Receives Average “Moderate Buy” Rating from Brokerages

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Shares of Ensign Energy Services Inc. (TSE: ESI – Get a rating) received an average “moderate buy” rating from the eight brokerages that cover the company, MarketBeat reports. One research analyst rated the stock with a hold recommendation and six gave the company a buy recommendation. The 12-month average price target among brokers who have quoted the stock over the past year is C$5.68.

A number of research companies have weighed in on ESI. TD Securities lowered its target price on Ensign Energy Services shares from C$6.50 to C$6.00 and set a “speculative buy” rating on the stock in a Monday research note August 8. Royal Bank of Canada cut its price target on Ensign Energy Services shares from C$6.50 to C$6.00 and set an “outperform” rating for the stock in a research report from the Monday, August 8.

Insider activity

In related news, senior officer Michael Gray purchased 10,000 shares of the company in a trade that took place on Thursday, September 22. The shares were purchased at an average price of CA$2.52 per share, for a total transaction of CA$25,200.00. Following the acquisition, the insider now owns 10,000 shares of the company, valued at C$25,200.

Ensign Energy Services trades up 9.5%

ESI opened at C$2.30 on Wednesday. The company has a debt ratio of 115.57, a current ratio of 1.42 and a quick ratio of 1.23. The company’s 50-day simple moving average is C$2.94 and its 200-day simple moving average is C$3.50. Ensign Energy Services has a 1 year minimum of CA$1.40 and a 1 year maximum of CA$5.00. The company has a market cap of C$431.65 million and a price-to-earnings ratio of -3.42.

About Ensign Energy Services

(Get a rating)

Ensign Energy Services Inc, together with its subsidiaries, provides petroleum services to the crude oil and natural gas industries in Canada, the United States and internationally. The Company offers shallow, intermediate and deep well drilling services, as well as specialty drilling services, including horizontal, underbalanced, horizontal re-entry and oblique drilling for steam-assisted gravity drainage applications; and equipment and services.

See also

Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Ensign Energy Services was not on the list.

Although Ensign Energy Services currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Investors brace for budget cuts

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The 2022 Australian Infrastructure Investment Report, by Infrastructure Partnerships Australia and law firm Allens, found there was a “wall of private capital hungry for housing”.

The report surveyed 36 investors, including banks, pension funds and infrastructure operators, managing more than $680 billion in infrastructure investments globally.

The report identified 67 new projects worth $72.3 billion that may require private capital to cross the line.

“But there appears to be lingering doubt about the ability of Australian governments to effectively integrate private capital in line with their existing infrastructure pipelines,” the report said.

The Albanian government’s tougher action on climate change – which is expected to increase renewable energy production to 82% by 2030 – has been welcomed by investors.

But investors were growing frustrated with the lack of clean energy projects available in Australia.

“It needs to move from good intentions to real action fairly quickly,” Mr Dwyer said.

Sixty-four per cent of respondents wanted Australian governments to do more on decarbonisation, particularly around emerging technologies for hard-to-cut sectors, regardless of higher costs.

Nearly 70% of investors said they were interested in renewable energy projects, and only 9% said they were interested in non-renewable projects, down 32 percentage points from last year.

“I think there’s a lot more interest than there are projects available, and some interest in high-quality assets and platforms,” ​​an investment banker told the survey. .

Despite the rapid growth of interest in renewable energy assets, some participants expressed concerns about the lack of storage and transmission in the Australian energy market, as well as the lack of availability of offtakes. energy.

There was some skepticism about the potential of hydrogen which was spurred on by many state governments and Australia’s richest man, Andrew Forrest.

“Hydrogen doesn’t seem ready for large-scale deployment,” an investment banker told the inquiry.

“There’s always risk around that and maybe venture capital and such are more interested right now, but maybe not infrastructure capital unless it’s drastically reduced.”

Investors are keen on large renewable projects in Australia.

The report found that 88% of respondents believed the ESG (environmental, social and governance) credentials of investments had become more important over the past 12 months, due to concerns about reputational risk.

The IPA report also noted that rising inflation had dampened investor enthusiasm in Australia, with concerns growing over capacity constraints on labor and materials.

“Given the persistence of this challenge over the past few years, it is plausible to say that lack of opportunity can be seen as a defining characteristic of the Australian infrastructure market, and it appears to be here to stay,” says The report.

The report found that NSW (69%) and Victoria (63%) remained Australia’s favorite destinations for infrastructure investment.

Talos Energy Inc. (NYSE: TALO) Receives Consensus “Moderate Buy” Recommendation From Brokerages

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Shares of Talos Energy Inc. (NYSE: TALO – Get Rating) received an average recommendation of “moderate buy” from the eight analysts who currently cover the company, MarketBeat reports. An equity research analyst rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average price target among brokers who have rated the stock over the past year is $21.64.

TALO has been the subject of several research reports. MKM Partners reaffirmed a “buy” rating and set a $23.00 price target on Talos Energy shares in a Wednesday, July 20 research note. TheStreet upgraded shares of Talos Energy from a “c-” rating to a “b-” rating in a Thursday, August 4, research report.

Performance of the Talos Energy share

Talos Energy shares opened at $15.09 on Tuesday. The company has a 50-day moving average price of $18.93 and a two-hundred-day moving average price of $18.43. Talos Energy has a 1-year low of $8.57 and a 1-year high of $25.49. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt ratio of 0.88. The company has a market capitalization of $1.25 billion, a P/E ratio of 6.56 and a beta of 2.27.

Talos Energy (NYSE:TALO – Get Rating) last reported quarterly earnings data on Thursday, August 4. The company reported EPS of $1.15 for the quarter, missing the consensus estimate of $1.28 per ($0.13). The company posted revenue of $519.09 million for the quarter, versus analyst estimates of $434.13 million. Talos Energy achieved a return on equity of 24.73% and a net margin of 12.02%. As a group, analysts expect Talos Energy to post EPS of 4.59 for the current year.

Institutional investors weigh in on Talos Energy

Several large investors have recently changed their holdings in TALO. Comerica Bank increased its stake in Talos Energy by 1.6% in the 1st quarter. Comerica Bank now owns 36,563 shares of the company valued at $737,000 after acquiring an additional 560 shares during the period. US Bancorp DE increased its stake in Talos Energy by 39.2% in the 1st quarter. US Bancorp DE now owns 2,811 shares of the company worth $44,000 after acquiring an additional 791 shares during the period. The Texas Permanent School Fund increased its stake in Talos Energy by 2.8% in the second quarter. Texas Permanent School Fund now owns 29,827 shares of the company valued at $461,000 after purchasing an additional 802 shares during the period. Yousif Capital Management LLC increased its position in Talos Energy shares by 2.4% during the 1st quarter. Yousif Capital Management LLC now owns 38,007 shares of the company valued at $600,000 after purchasing an additional 895 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Talos Energy shares by 17.5% in the second quarter. Mutual of America Capital Management LLC now owns 6,931 shares of the company worth $107,000 after buying 1,032 additional shares last quarter. Hedge funds and other institutional investors own 92.31% of the company’s shares.

About Talos Energy

(Get an assessment)

Talos Energy Inc, an independent exploration and production company, is focused on the exploration and production of oil and gas properties in the Gulf of Mexico in the United States and offshore Mexico. As of December 31, 2021, the company had proven reserves of 161.59 million barrels of oil equivalent, consisting of 107,764 thousand barrels of crude oil, 236,353 million cubic feet of natural gas and 14,435 thousand barrels of oil. raw.

See also

Analyst Recommendations for Talos Energy (NYSE: TALO)

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Oxy’s Hollub says industry is well positioned to lead energy transition

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(WO) — One of the most interesting and thoughtful panel discussions last week at the Schlumberger Digital Forum in Lucerne, Switzerland, focused on the energy transition. The discussion about what should be done and how to do it, as well as who should lead the way, was wide-ranging.


Vicki Hollub, President and CEO of Occidental Petroleum

Panelists included Occidental Petroleum President and CEO Vicki Hollub, OGCI Climate Investments CEO Dr. Pratima Rangarajan, and Schlumberger Strategy and Sustainability Director Dr. Katharina Beumelberg.

Industry’s role in the transition. Asked about the role the oil and gas industry should play in driving the energy transition, Oxy’s Hollub had clear and precise ideas. “I would say our industry is uniquely positioned to lead the energy transition,” Hollub said. “The reality is that we can’t have a transition without oil and gas, and sometimes we like to say that’s really an add-on. It is an addition of additional means to supply energy. But oil and gas will be with us for a long, long time. »

The CEO of Oxy further explained that CCUS is another reason why the industry is leading the transition. “We are the industry that manages the most gas for the industry, that manages the most CO2 and we are the industry that can actually drill the wells to bring the CO2 underground in order to sequester it or use it. in oil and gas reservoirs. So I think we’re part of the solution. The other aspect is that we’re an industry that’s always been able to innovate to solve problems. And I believe that in the next five or ten years, there will be such an increase in the level of innovation in our industry, I think, that it will exceed anything we have seen before.

Use of carbon monoxide2. Asked by the panel moderator how she should explain the concept of net zero oil to her climate-conscious daughter, Hollub provided an excellent, albeit lengthy argument/explanation. “It’s a concept that if the world doesn’t understand [it]then there won’t be a just energy transition, because we won’t be able to afford [it]. So the concept is, and the way it works, imagine you have a granite countertop and you’re in your kitchen, and your husband is spilling red wine. It goes on the counter, and if it’s not sealed, every wine line is going to stain and it’s going to stay there. And these are very small marble pores. This is exactly how CO2 sequestration works in a tank. So instead of putting what we think of as a commodity – the CO2—in a saline tank, where you never get any extra benefit from it, we should put CO2 in all the oil reservoirs in the world where we can introduce it. Because, if you do that, it produces extra oil that comes from residual oil left in the ground that you can’t get by natural means or by pumping water.

“In conventional reservoirs,” Hollub continued, “typically you only get 15 to 20 percent of the oil underground, and in shale reservoirs it’s only 10 percent. So we leave between 70, 80 or 90% of the oil in the ground If we inject CO2 in that reservoir, in those little micropores where the oil molecules are that cannot be moved by water, the CO2 will become immiscible. And for those oil molecules, it makes each molecule bigger and makes it less viscous and pushes it out of that little micropore. Then CO2 enters this micropore. This is how you get extra oil with CO2— the oil is then pushed to a production well and produced. It is net zero or net negative oil, because it takes more CO2 injected into the tank than what the barrels produced from this injection will emit when used. If the world understands this, it means that every possible reservoir of oil must be produced with CO2 enhanced oil recovery. The last barrel of oil produced in the world is expected to come from CO2 enhanced oil recovery.”

SLB Digital Forum Day One, second panel (Hollub, Rangarajan and Beumelberg)

From an investment perspective. Meanwhile, the moderator asked OGCI’s Rangarajan from a more investment angle, how she assesses the industry’s ability to drive the energy transition. “If you think about human development in energy, it’s an almost linear progression for the early stages of energy,” Rangarajan said. “It’s only in the West, where we have enough energy to plateau, and we’re using more than our fair share. So for the rest of the world, it’s absolutely critical. This transition is everyone’s transition. It’s not just about the energy industry. And frankly, the message we should be sharing is that everyone should get involved and make sure this industry takes a leadership position, not pushes us away.

Rangarajan said the second fact that came up earlier in the Forum, which she thinks is very important, is that the role of different energy sources has not changed. “Oil and gas is still 40%,” she analyzed. “Coal is still 40%. Renewables still make up less than 10% of the energy mix, and that’s only because we continue to increase our consumption and demand. If we really want to get out of this ratio, it is clear that we must at least modify the signals of demand, which we have talked about. But I don’t think it’s credible to get to net zero without changing demand signals, however unpopular it may be for those of us in the West.

The OGCI executive then mentioned a third factor, which has to do with other sectors of the global economy. “The other sectors are downstream from the energy sectors,” Rangarajan proposed. “And they need energy to produce, whether it’s cement, iron, steel, or all of the above. But keep in mind that if you do that, for steel or cement, which together are responsible for 15% of carbon dioxide emissions, equivalent, only half of their emissions come from energy. The rest comes from the process. This is because we live in a carbon world. So all of these industries, none has innovated as much as the energy industry. So I think it’s imperative that this industry take a leadership position, not just to lead the industry itself, but to lead the way for other sectors that haven’t been as innovative.

Bring it all together. The moderator referred to the “energy trilemma” of keeping energy affordable and sustainable, while making it green and decarbonized, and, at the same time, ensuring that it is reliable and secure. She asked Schlumberger’s Beumelberg how to do all of this simultaneously. “I have to say that I was very impressed with how [Saudi Aramco President and CEO] Amin Nasser spoke about it because I think it was absolutely right and paved the way for the reliability and affordability that we all want and need for growth, for the development of our planet “said Beumelberg. “In fact, we need oil and gas, and we need to make sure we decarbonize it. And for this discussion, this decarbonization, we need industry-relevant investments. And then on the other side, to make the industry more sustainable, we actually, as you said, need to invest in invention as well.

Beumelberg acknowledged that the oil and gas industry has many strengths to satisfy the trilemma. “In addition, we have a lot of long-term experience, capabilities and knowledge that the industry has accumulated,” she said. “We can use it to really scale the kind of new energy system that’s coming alongside the oil and gas industry, and that will help decarbonize our energy supply, overall. And I think that’s something we really need, like Vicki [Hollub] developed, where we have to rely on the underground know-how we have and the enormous digital know-how. This will allow us to scale these technologies much faster globally, and it will help the transition.