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European Robotic Lawn Mower Market To Hit $1.25 Billion By 2027 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Europe Robotic Lawn Mower Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.

The European robotic lawn mower market size reached US$617 million in 2021. Looking forward, the publisher expects the market to reach US$1,256 million by 2027, showing a CAGR of 12.58% in 2021-2027. Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on different end-use sectors. This information is included in the report as a major market contributor.

A robotic lawn mower is an autonomous lawn mower that operates autonomously without any human intervention. Typically, a robotic lawn mower is designed to include a mobile base, docking station, and sensory feedback control system. It uses multiple degrees of coordinated movement using sensors, while having the ability to self-docking.

For this reason, robotic lawn mowers are considered more efficient than conventional lawn mowers. In addition to this, robotic lawn mowers have other advantages such as convenient handling, low maintenance, energy saving, safe operation, high efficiency and optimum results. In Europe, robotic lawnmowers are used for several gardening and lawn care applications, in both residential and commercial sectors.

The growing demand for robotic lawn mowers in Europe can be attributed to the growing adoption of artificial intelligence (AI) technology to perform daily activities with greater efficiency. Furthermore, the growing penetration of smartphones and wireless devices coupled with the rapid development of software applications to control robotic lawn mowers has propelled the market growth in Europe. In addition to this, the rising standard of living supported by the high disposable income levels of European consumers has fueled the use of high-end and advanced household robots for several household tasks.

Moreover, a large portion of the population in Europe owns independent residential spaces which usually include private lawns and gardens, thus boosting the demand for robotic lawn mowers. Apart from this, the increasing demand for automation in the commercial sector, as well as the growing awareness of several advantages of robotic lawn mowers, such as noise-free operations, time management and energy conservation , have further increased the market growth in the region. .

Key Market Segmentation:The publisher provides an analysis of key trends in each sub-segment of the European Robotic Lawn Mower market report, as well as regional and country-level forecasts from 2022 to 2027. Our report has categorized the market based on lawn size, end user, technology and distribution channel.

Breakdown by lawn size:

Breakdown by end user:

  • Residential

  • Commercial

  • Others

Breakdown by technology:

  • Smart robotic mower

  • Simple robotic lawn mower

Breakdown by distribution channel:

  • Specialty stores

  • On line

  • Others

Breakdown by country:

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Others

Main topics covered:

1 Preface

2 Scope and methodology

3 Executive Summary

4 Presentation

5 Europe Lawn Mower Market

6 Market Breakdown by Lawn Size

7 Market Breakdown by End User

8 Market Breakdown by Technology

9 Market Breakdown by Distribution Channel

10 Market Breakdown by Countries

11 SWOT Analysis

12 Value chain analysis

13 Analysis of the five forces of carriers

14 Competitive landscape

Companies cited

  • AL-KO Kober SE

  • Alfred Karcher SE & Co. KG

  • E.ZICOM

  • Honda Power Equipment

  • Husqvarna Group

  • MTD Products Inc.

  • Robert Bosch GmbH

  • STIGA

  • Yamabiko Europe

  • Zucchetti Centro Sistemi

For more information about this report visit https://www.researchandmarkets.com/r/50gkbo

LNG Service Provider Furui Energy to Increase Overseas Market Presence with Launch of Website Redesign

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SHANGHAI, August 22, 2022 /PRNewswire/ — Furui Energy, an industry leader Liquefied Natural Gas (LNG) Plant Projects and Solutions, launches its revamped English site to reach foreign markets with its service offerings. With a proven track record of delivering clean, renewable energy to businesses in Greater China since 2008, the company is now looking to bring its highly coveted services to the international market.

The revamped website can be navigated entirely in English so that multinational companies can gain a clear and accurate understanding of Furui Energy’s products and offerings, which range from natural gas consulting services to engineering, procurement and construction (EPC) and technical support services. The website also gives visitors the opportunity to learn about the benefits of LNG plant projects and green technology improvements through informative articles.


Furui Energy website

The demand for LNG has grown rapidly due to its multitude of environmental benefits. In an LNG plant, natural gas is purified and supercooled in liquid form to be stored and used as fuel. Compared to non-renewable energy sources such as coal and diesel, LNG emits 45-50% less carbon dioxide than coal and 30% less carbon dioxide than fuel oil. As a result, LNG plant projects produce far less pollution than other power plants, making them a smart alternative for power generation globally.

As a one-stop clean energy service provider, Furui Energy has been contributing to reducing greenhouse gas emissions for years with a number of successful projects in China and abroad, including Malaysia, Singapore, Iraq, Uzbekistanand Mexico. The company strives to continue doing its part for the environment by providing services beyond the mainland China market, making clean energy more accessible and digestible for industrial companies globally. The redesigned website ensures a user-friendly experience for all visitors, where they can find detailed information about Furui Energy’s products and services, as well as an overview of the company’s successful LNG plants and projects.

SEC GAS Project
SEC GAS project

Li Huaibing, general manager of Furui Energysaid, “Furui Energy is proud to launch our revamped website, making its presence known in the international LNG landscape. Delivering clean energy for a better future remains our highest priority, and we want to expand these capabilities to ensure a better future everywhere.

The president of Furui Special Equipment, Huang Fengalso shared his optimism about Furui Energy’s future as a leading LNG supplier, saying, “During a recent visit to the Heshen 6 Well LNG project site in Hechuan District, Chongqing, my team inspected the construction site and the operating plant, as well as the Tongshen 3 Well Phase II LNG project, stressing the importance of on-site safety and careful maintenance of all our operating plants. It is a pleasure to see how Furui Energy has grown into a compassionate and talented team that has accomplished so much for the environment and our employees over the past 15 years. Our group’s commitment to green ecology and improving the livelihoods of others only grows stronger as we reveal our potential to the rest of the world.”

Heshen 6-Well LNG Project
Heshen 6-Well LNG Project

Furui Energy’s revamped English website provides a comprehensive overview of the products and services available, with supporting case studies. Website visitors can also read thought-provoking thoughtful articles focused on LNG and clean energy, and browse career opportunities.

Learn more about Furui Energy’s products and services by visiting http://www.furuilng.com/.

About Furui Energy
Jiangsu Furui Energy Services Co., LTD (Furui Energy) is an independent subsidiary of Furuise specializing in LNG plant projects, including project pre-research such as feasibility and FEED studies; EPC works and technical services, including start-up and commissioning, fault diagnosis and remote assistance, daily maintenance and operation of installations; R&D, rental and sale of LNG equipment; Sales of LNG and other chemicals.

CONTACT:
Furui Energy
[email protected]
Mia Wang | [email protected]

Sinclair
[email protected]

3 High Yielding Energy Stocks to Earn Passive Income for Years

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The energy industry is a great place to collect passive income. The sector currently offers the highest dividend yield in the S&P500 close to 4%, well above the index average of around 1.5%. For this reason, income-oriented investors have many options.

Three energy stocks that stand out for their ability to generate sustainable passive income are Brookfield Infrastructure (BIPC -0.98%) (BEEP 1.36%), Clearway Energy (CWEN -4.66%) (CWEN.A)and Williams Enterprises (WMB -0.88%). Here’s a closer look at why income-focused investors should consider this trio.

1. Sustained growth should continue

Brookfield Infrastructure has been an exceptional passive income generator over the years. The global infrastructure operator declared its 13th consecutive year of increasing its payment in 2022, growing it at a compound annual rate of 10% during this period. It currently offers a dividend yield of 2.9%, nearly double that of an S&P 500 index fund.

Brookfield should be able to continue to grow its lucrative revenue stream in the future. The company operates a diversified portfolio of infrastructure businesses in the utilities, midstream energy, transportation and data sectors. They generate recurring cash flows supported by long-term contracts and government-regulated fee structures. Meanwhile, Brookfield pays around 60% to 70% of that income to shareholders through its high-yield dividend. This gives it some cushion while allowing it to keep some of the profits to fund its continued expansion.

Brookfield estimates that it can organically increase its cash flow per share by 6% to 9% per year through inflationary price increases, increased volumes as the economy grows and expansion projects . Additionally, it sees its capital recycling program – selling mature assets to invest in higher yielding opportunities – adding to its bottom line. This should support the company’s plan to increase its dividend by 5-9% per year.

2. Future high-end growth

Clearway Energy is currently offering a 3.5% dividend. The company has steadily increased this payment in recent years. It plans to increase it towards the upper end of its annual target range of 5% to 8% through 2026.

The main factor behind this high-end growth is the recent sale of the company’s thermal assets. It received $1.46 billion in net proceeds, which it plans to allocate to clean, cash-generating power assets in future years. The company has agreements to put more than half of these profits to work. For example, it recently agreed to invest $100 million to $130 million to acquire a portfolio of wind assets from a third-party seller. Combined with other recent deals, it aims to increase its cash available for distribution from $365 million this year to $400 million when those deals close.

During this time, the company strives to invest the remaining proceeds at attractive returns. Its success in doing so could boost its cash flow to over $440 million in the future.

This should not be a problem to continue to find attractive opportunities, given the amount of investment needed to transition the economy to renewable energy. It also has strategic relationships with a renewable energy project developer, a global infrastructure investor and a major energy company, each of which can provide it with investment opportunities.

3. Lots of fuel to keep growing

Williams Companies has been paying dividends to its shareholders since 1974. It has steadily increased its payout since resetting in 2016 to conserve more cash to expand operations and strengthen its balance sheet. natural gas pipeline the giant’s payout currently yields 4.8%.

The company currently generates enough cash to cover that payment more than twice, giving it a significant cushion. This allows it to fully fund its expansion program and pay off its debt, putting its payment on an even more sustainable footing.

Williams Companies has several growth engines that should provide it with more cash flow to increase its dividend going forward. Its natural gas transmission business alone is growing by leaps and bounds, driven by growing demand for cleaner fuels. Williams is investing $1.5 billion in five projects and has another 30 projects worth up to $7 billion in future development investment potential. This pipeline could drive growth over the next decade. Additionally, it is expanding its gas gathering business and position in the Gulf of Mexico and shifting to low-carbon energy. With multiple growth drivers and an improved financial position, Williams’ dividend looks more sustainable than ever.

Sustainable revenue streams

Brookfield Infrastructure, Clearway Energy and Williams Companies deliver high-yield payouts built on enduring foundations. All three energy companies produce recurring cash flow and have strong financial profiles, giving them the flexibility to continue to grow their businesses. This growing cash flow should allow them to continue to increase their dividends, making them excellent passive income stocks to hold for the long term.

Matthew DiLallo holds positions at Brookfield Infrastructure Corporation, Brookfield Infrastructure Partners and Clearway Energy, Inc. The Motley Fool recommends Brookfield Infra Partners LP Units, Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy.

Electric Bike Company Unveils Model F 25mph Folding Electric Bike

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Electric Bike Company, based in Newport Beach, California, has just launched its long-awaited folding electric bike model, known as the Model F. The backrest embodies much of the same cruiser vibes and design philosophy of the most the company’s big e-bikes, but a smaller, more portable package.

And just like the rest of the company’s e-bikes, it’s built there in Southern California before being shipped fully assembled to customers.

The F model features a low frame and 24-inch wheels, which are a compromise between the large 26-inch cruiser wheels and the smaller 20-inch wheels often seen on most e-bikes folding.

The 3″ wide tires are also a middle ground between softer fat tires and narrower street tires, falling more into the balloon tire category than true fat tires.

The smaller diameter tires make the bike a bit more compact when folded, but are still large enough to give a more typical cruiser-like ride.

The F-Model’s hydroformed aluminum frame features a front suspension fork and uses an integrated battery that’s secured in the downtube.

The battery can be locked in place and charged on the bike or unlocked to be removed for charging separately. The company claims a maximum range of 80km from the battery when using the pedal assist.

Riders who instead rely on the throttle to reach higher speeds without pedaling won’t achieve the same 50-mile range, but should still likely reap at least half that figure.

With a 750W motor and a top speed of 40kph (25mph), riders who press hard on the throttle will have good power and speed at their fingertips.

Also within easy reach are a pair of comfortable brake levers linked to hydraulic disc brakes for powerful braking performance. To pick up speed, the single-speed pedal transmission uses a massive 58-tooth chainring, ensuring pedaling ability even at top speed.

Just like Electric Bike Company’s other models, the new backrest comes with vegan leather grips, a wide, comfortable saddle that embodies the vibes of the company’s cruiser bike, a color LCD display, LED lighting on the front and rear of the bike, corrosion resistant hardware throughout the bike and an adjustable handlebar stem.

The bike is priced at $1,799 and currently comes in three colors of white, red, and black. But Electric Bike Company is famous for its nearly limitless paint color options thanks to the operation of its own paint plant in Southern California, so we wouldn’t be surprised to see more colors offered soon.

I visited the company over the winter and got to see the paint shop first hand, trying to paint my own Tweety yellow bike frame.

There I also got to tour the company’s multiple factories in Newport Beach, meet the team that actually builds the bikes, and get a better idea of ​​what goes into building these quality electric cruiser bikes.

The icing on the trip cake was testing a few different models, including the more economical Model E and the easily accessible Model Y.

You can check out my tour of the company’s e-bike factory in my video below to see how these awesome e-bikes are getting the local treatment.

FTC: We use revenue-generating automatic affiliate links. After.


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https://www.youtube.com/watch?v=LROVW4UTwqU

The plan for the battery energy storage system is presented to the Planning Board, a decision lambasted by Aguiar and Blass

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The Virginia company proposing to build a 100 megawatt battery energy storage facility on Mill Road presented its proposal to the Riverhead Planning Board on Thursday – a presentation described by the city’s chief planner as merely intended to educate the council and the public on battery energy storage in general rather than a typical discussion of a site plan application before the board for consideration.

Battery energy storage is currently not a permitted use under the city’s zoning code. In fact, the company’s site plan application for the 3.6-acre residential site on Mill Road has already been denied by Building and Planning Administrator Jefferson Murphree for this reason.

However, the plaintiff, Riverhead Energy, a subsidiary of Hexagon Energy of Charlottesville, Virginia, also filed an application with the Riverhead Zoning Appeal Board seeking a special exception to permit the energy storage facility by battery on site. The special exception request asks the ZBA to substitute one non-conforming use with another non-conforming use, described as “less intense,” according to documents filed with the planning department last month.

On July 22, the day Murphree wrote the site plan application denial letter, planner Matt Charters wrote a notice of incomplete application letter to the applicant detailing the items they must submit to the planning department before its site plan application can be considered complete.

Lawyer Chris Kent, foreground, with Hexagon Energy’s Adam Staneck, representatives of VHB Engineering and Riverhead Planner Matt Charters, third from left, at Thursday’s Planning Board meeting. Photo: Alex Lewis

On Thursday, Hexagon’s senior director of development, Adam Stanek, told members of the Planning Board that battery energy storage facilities buy energy during off-peak hours to store it for later resale to the company. utilities at peak times at a higher price than they paid. . The systems enable a constant supply from renewable energy sources and overall lower costs for customers, reduce stress on the grid and reduce the need for large fossil fuel generators called “peaking power plants” which provide electricity during peak hours.

Stanek was joined in Thursday’s planning committee meeting with local Hexagon attorney Chris Kent of Farrell Fritz, as well as engineers and planning consultants from VHB Engineering. Farrell Fritz and VHB prepared Hexagon/Riverhead’s site plan application, complete environmental assessment form and technical site plan drawings, which were filed with the planning department on July 14, as well as a check for $5,000 for site plan application fees.

Riverhead Supervisor Yvette Aguiar said she was ‘appalled’ that the application was presented to the planning board on Thursday, despite the use not being permitted by the town’s zoning code to be located anywhere in the town of Riverhead – and even if the city council is working to pass legislation to regulate the location and operation of battery energy storage facilities in the town. The city council held a public hearing on a first draft code on Tuesday evening.

An angry city supervisor said today that watching a video of Thursday’s planning board meeting ‘it became very clear what was being delivered to council and residents was a pre-planning request for the submission, with numerous documents, studies, certified documents” in the presence of the plaintiff’s lawyer, engineers and architect.

Aguiar called Thursday’s presentation a “serious distortion of public trust.”

Jamesport resident Barbara Blass, a former city council member, longtime member of the planning board and its former president, is often at odds with Aguiar when she takes to the podium at City Hall to comment on demands and pending actions. This is not the case on this question. Blass also expressed outrage at the process followed. His comments after Hexagon’s presentation at Thursday’s Planning Board meeting were in line with Aguiar’s assessment.

Noting that the applicant had had a pre-bid conference with planning department staff in October, Blass questioned why the education effort of the Planning Board and the public – which, according to the building administrator and planning, Jefferson Murphree, was the focus of Thursday’s presentation – has been postponed until mid-August.

“Why wait for this applicant to go through the still ongoing application process, but still provide site plan drawings fully designed by VHB engineering company, pay the application fee, complete the lengthy environmental assessment form and anything that goes with the app sitemap, including notarized signatures, and suggesting that it was on your agenda to educate the board and the public about the technology?” Blass asked.

“We saw a draft code proposed by staff in April, why not enlighten the council then?” she asked.

“And who would consider a public information forum at 3 p.m. on a Thursday afternoon, when the public can’t even participate in the discussion?” Blas continued. “I’m sorry, but the word dishonest comes to mind.”

Rather than wait for the City Council’s code amendment to proceed to its conclusion and final adoption, Hexagon/Riverhead, with the apparent consent of the Building and Planning Administrator, is requesting a special exception to the Use of the Zoning Appeal Board. If the special exception use is granted by the ZBA, the applicant could obtain site plan approval and proceed with construction without the special permit from the city council required by the pending code amendment, even if the property is not located in one of the zoning districts where it would be permitted if the proposed code were adopted.

Under the draft code on which the city council held a first public hearing on Tuesday, installations of battery energy storage systems would be permitted by special permit from the city council only in Industrial A, Industrial C , planned industrial park, agricultural protection and zoning A-80 residence use neighborhoods.

But the proposed site on Mill Road is zoned Residence B-40, so the proposed BESS facility could not be located there if the code is passed in its current form.

“How and why would a candidate continue to invest in the development of a non-compliant application unless they were aware that at some point there was a light at the end of the tunnel for them? Blass asked during Thursday’s planning board meeting.

“Instead of solid planning principles at play here, we seem to have a well-orchestrated strategy that runs counter to responsible, trustworthy and professional behavior.”

New York State is promoting battery energy storage systems to meet renewable energy goals by improving the efficiency of commercial solar power generation facilities, which generate most of their power in the middle of the day, an off-peak hour for residential energy use, Hexagon representatives said. says the council.

The installation would help maximize the benefits of the solar farms located in Calverton, Stanek said. Although the proposed site is zoned residential, the proposed battery energy storage system “suits the local aesthetic, in that the land is currently used for industrial purposes”.

Proposed site on Mill Road for installation of 100 megawatt battery energy storage system. Photo: Denise Civiletti

The Mill Road location is adjacent to the rail line to the south and a large self-storage facility to the north, and is near a LIPA substation located south of Main Street. Hexagon Energy’s Stanek said redevelopment of the site will result in additional tax revenue for the city.

The proposed location on Mill Road is also adjacent to Glenwood Village, a high density prefabricated housing community.

The property is currently being upgraded with warehouse-type buildings that would be demolished to make way for the energy facility, according to documents filed by the plaintiff.

The proposed facility would be the largest of its kind to date on Long Island. A small facility is located in the town of East Hampton and a large scale facility is proposed closer to New York City. Hexagon is not involved in any of these facilities, Stanek told the Planning Board.

Blass also challenged the notion that the battery energy storage facility is a “non-conforming use” that can be substituted for another non-conforming use by special exception from the ZBA.

The ZBA has the power to grant a special exception to replace one nonconforming use with another, Blass said, but “but the use has to be legally authorized somewhere in the city or it’s not a nonconforming use.” compliant, it’s non-existent use,” Blass said.

Murphree, the city’s chief planner and zoning officer, disagrees.

In response to questions from RiverheadLOCAL on Tuesday, Murphree said in an email that “any use not explicitly listed or construed as authorized by the city’s zoning official [Murphree] is considered a derogatory use. It does not have to be allowed “elsewhere” in the zoning code to be considered non-compliant. »

The applicant intends to apply for the special exception from the ZBA, Murphree wrote, and the planning department put the application on the agenda of the Planning Board on Thursday for discussion only to “inform the nature board [of the] the application in question and its proposed use, as well as [to] describe the process for reviewing the application in the future.

The application remains incomplete pending receipt of additional information outlined in Charters’ July 22 letter, Murphree wrote in the email.

Murphree continued, “Again, we’re just trying to be proactive and educate the Council and the public on a new use.”

Alek Lewis contributed reporting.

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Europe tries to solve its energy crisis with fossil fuel projects in Africa

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Food and fuel prices are skyrocketing globally, and Russian oil and gas supplies have been reduced since the invasion of Ukraine. In response, European governments are paving the way for massive investments in fossil fuels from non-Russian sources that jeopardize efforts to combat climate change.

Policies are designed to suit fossil fuel companies, which see Russia’s war in Ukraine as an opportunity to expand production elsewhere. Governments are missing opportunities to reduce oil and gas consumption by managing demand – insulating homes and abandoning car-based urban transport systems, for example – and accelerating the shift to electricity generation from solar and wind energy.

Government failures to address the climate crisis, exemplified by scorching summer temperatures and drought, go hand in hand with inadequate responses to economic crises. Inflation and recession combine to threaten the livelihoods of hundreds of millions of people. Resistance to these attacks is growing. Here in the UK, a wave of strikes looks likely to become the biggest in decades.

Activists seek to unite these protests over living standards with actions to reduce the use of fossil fuels and limit global warming. Uniting the fight for social justice and climate justice is needed, and possible, like never before.

Responses to high fuel prices

The Russian invasion of Ukraine in February accelerated already runaway increases in fuel prices. Since the start of 2021, gas prices in Europe have increased more than eightfold. Oil rose from around $50/barrel to $120/barrel in March; it has remained above $90/barrel ever since.

European governments’ “emergency” response measures, aimed at sourcing from non-Russian sources, included approving fossil fuel generation projects that will not come on stream for years.

The British government paved the way in April, with its Energy security strategywhich undertakes to authorize new gas projects — live opposition calls from the International Energy Agency (IEA) and the United Nations Environment Program to immediately cease all new exploration and extraction of oil and gas. The strategy included next to nothing to improve the insulation of British homes, which energy researchers say is the most effective way to reduce gas consumption.

Instead, money was pledged for beloved tech solutions from fossil fuel companies, including hydrogen and carbon capture.

The RePowerEU package set up by the European Commission, the executive arm of the European Union, has committed resources to reducing the use of fossil fuels by renovating homes, reforming urban transport and accelerating the development of renewable energy. But not enough.

He has also approved billions of dollars in new gas infrastructure – “a slower, more expensive and more environmentally damaging answer to the bloc’s energy security needs” than renewables and modernization, according to a Global Energy Monitor. report show.

Brussels is also supporting a program to import “green” hydrogen, produced from renewable energies, from North Africa and, in the future, from Ukraine. opponents say it is “neocolonial greenwashing”, and that the new renewable energy capacity should rather be adapted to the energy needs of these countries.

Most dangerous of all, however, are plans backed by European governments to boost gas production in Africa, with exports to Europe displacing Russian gas supplies.

In May, German Chancellor Olaf Scholz sign an agreement with Senegalese President Macky Sall to seek gas which would be liquefied and sent by ship to Europe. In June, African Union leaders discussed launch a joint call at the COP27 international climate talks in Egypt in November, for the expansion of oil and gas production across the continent.

A corporatist offensive rubs shoulders with a political offensive. Oil and gas producers are considering new projects worth more than $100 billion in Africa, research by Reuters shows.

Since the Russian invasion of Ukraine, the Italian energy group Eni has sign new agreements with Algeria, Egypt and the Republic of Congo, aimed at exporting more gas to Europe; TotalEnergies of France is considering reviving a $20 billion liquefied natural gas (LNG) project in Mozambique; and Equinor of Norway joined Shell to sign an agreement with Tanzania to build a liquefied natural gas (LNG) export terminal there.

Civil society resists

African civil society reacted angrily to oil and gas investment plans. A plan presented to African Union leaders failed to explain “why current energy systems, largely centralized, largely dependent on fossil fuels and largely export-oriented, have failed to provide access to electricity. energy to hundreds of millions of ordinary Africans,” according to an NGO note. declared. The focus for each region should be on using each continent’s “massive renewable energy potential” to end energy poverty at the national level, they demanded.

Mohamed Adow, director of Power Shift Africa, said that locking Africa into “a future based on fossil fuels” would be “a shameful betrayal”. Lorraine Chiponda of Africa Coal Network said oil and gas investment plans “are not driven by Africa’s needs, but by the energy crisis in Europe”. The proposals were also rejected by climate diplomats, including those representing the Egyptian Presidency of COP27.

The focus on gas export can only increase the burden borne by Africa’s poorest people, who have little or no access to electricity or other modern forms of energy. energy. In sub-Saharan Africa, the number of people without access to electricity increased by around 4% between 2019 and 2021, to 590 million (43% of the population), mainly due to the coronavirus pandemic, lockdowns and energy prices, reversing the gains made in 2014-18. The number of Africans without access to clean cooking fuels has also increased, to more than 970 million, nearly three-quarters of the continent’s population. For cooking, most of them depend on collected firewood and agricultural and animal waste.

Russian aggression in Ukraine has aggravated the situation. Soaring food and fuel prices have pushed an additional 71 million people in developing countries into poverty since March, according to the United Nations Development Program reported in July.

Energy experts argue that developing Africa’s huge solar and wind potential is the way to fight energy poverty. Resources dumped at LNG export terminals undermine this potential.

The shadow over COP27

The approach of Europe’s biggest governments – limited action on energy conservation and renewables, plus billions for new gas, hydrogen and carbon capture projects – is comparable to that of China and of the United States, respectively the biggest and the second biggest emitters of greenhouse gases.

China, while investing heavily in renewable energy, continues to increase coal production and consumption. Its emissions trajectory is consistent with 3 degrees Celsius (3°C) of global warming, as opposed to the scientific goal of 1.5°C, Climate action tracking to research shows.

In the United States, Democratic politicians this month hailed passing the Cut Inflation Act, which included $369 billion for climate measures such as support for electric vehicle purchases, carbon capture and renewable energy – but, as activists warnedno restrictions on the development of fossil fuels.

Package could lift US emissions to 60% of 2005 level, analysts say valued – 10-12% above the target set by President Joe Biden last year. Climate Action Tracker considers this objective itself “insufficient” and compatible with a warming of 2.4°C. Moreover, the United States and other rich countries have still failed to unlock the $100 billion in climate finance promised to vulnerable countries by 2020.

All of this adds up to the prospect of COP27, like other COPs before it, of hampering and undermining efforts to tackle the climate crisis. Society as a whole should to find solutions outside the talks and the greenwash that surrounds them.

Social justice and climate justice

In Europe as in North America, rising fuel prices threaten millions of families with disaster: they will not be able to pay for heating and electricity this winter. In the UK, decades of neoliberal market reforms have removed all constraints from energy companies, which place the entire burden of rising wholesale prices on households. The market is organized in such a way that even electricity produced from low-cost renewable energies is sold at gas prices.

By January 2023, the increase in energy bills is expected tripling to over £5,000 a year for average households and pushing two-thirds of UK families into fuel poverty. In response, more than 100,000 people signed a pledge, launched by the don’t pay campaign, to refuse to pay their energy bills.

The challenge before us is to unite this wave of anger against energy companies profiting from the fight to prevent dangerous global warming.

In 2018, during France’s yellow vest movement, sparked by fuel taxes that the government called ‘green’, the phrase ‘the elites talk about the end of the world, but we worry about the end of the months” was invented.

Less known was the slogan that responded to it: “end of the world, end of the month, same fight!” – which sought to unite social protest with action against climate change. This year, requests such as “isolate Brittany– to modernize homes, reduce both energy consumption and bills – have achieved such unity. We need to do more.

The same corporations and governments that seek to increase fossil fuel production in a climate emergency are also seeking the neocolonial subjugation of Africa and assaulting household living standards in both the North and the South.

Struggles for social justice and climate justice must be united to transform society and end their domination.

Energy Adviser: Adding insulation to older homes can pay off

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Owning an old house is a bit like owning an old vehicle. Although it doesn’t have the features or comforts of its modern counterparts, the right upgrades can make it perform better than it did the day it was built.

Additionally, Clark Public Utilities can help make the investment more affordable.

Older homes are not as energy efficient as those built after 1990. Stricter building codes, along with changes in building science and materials technology mean that newer homes stay at the desired temperature longer while consuming less energy than older homes.

The difference is mainly in the insulation.

Newer homes are framed with two-by-six studs spaced 16 inches on center, while most pre-1990 homes were built with two-by-four studs 12 inches on center. Thicker walls mean more room for insulation. Fewer poles means less thermal bridging for heat to get where it’s not supposed to be.

Not only were homes built with less room for insulation, but builders often didn’t prioritize its installation. As any professional renovator can probably tell you, old attics, floors and walls can all be insulated, but to different degrees from house to house.

Homes built before the 70s may have little or no insulation in the walls or floor, but a decent layer in the attic.

Fortunately, inadequate insulation is fairly easy to fix and offers one of the best investments for return value of any home improvement project.

With a little hard work and a few simple tools, a DIY homeowner can insulate the attic or floor in an afternoon or two. Although the do-it-yourselfer can save money on installation, it’s often worth considering at least the services of a professional. Contractors often have better insulation solutions than a do-it-yourselfer can achieve, handle all safety aspects of the project, and can provide crucial air sealing services as part of their offerings.

“Air leaks are constantly working against the heating or cooling system, and older homes are full of them,” said DuWayne Dunham, energy services supervisor. “Many contractors offer both air sealing and insulation, together they will really improve the energy performance of a home.”

Even if they are well insulated, older houses tend to heat up quickly in the summer, often because the attic is poorly ventilated. A good insulation contractor will consider ventilation and modern standards as part of a job.

“People often say the heat rises, when in reality it’s warm air rising, the heat expands and moves in any direction to heat cooler spaces,” Dunham said. . “So on a hot summer day, when an attic can easily reach over 160 degrees, that heat is going to sink into the cooler living spaces – unless it is properly vented to the outside.”

Wall insulation is generally too technical for most do-it-yourselfers. But, for an insulation contractor, it’s just another day of work. They reinforce a wall’s insulation by removing a bit of the exterior sheathing, cutting or drilling a small hole in the wall, and then blowing in the insulation until the wall is well compacted. Other companies use specially formulated spray foam insulation, which is more effective but also more expensive.

Older homes also run the risk of having asbestos in the insulation. Although not threatening if left alone, asbestos can be very harmful to human health if disturbed. Its removal should only be carried out by a professional.

After meeting certain conditions, Clark Public Utilities customers who own an electrically heated home can receive a rebate of $0.40, $0.50 and $1.20 per square foot on the attic, floor and wall insulation, respectively. It’s between 10% and 20% off a job.

Contact us at 360-992-3355 [email protected] to discuss insulation projects and to learn more about discounts.


Energy Adviser is written by Clark Public Utilities. Send your questions to [email protected] or to Energy Adviser, c/o Clark Public Utilities, PO Box 8900, Vancouver, WA 98668.

SET sentiment supported by record earnings

0

RECAP: The SET index jumped mid-week after listed companies reported record second-quarter profits of 350 billion baht, rekindling investor confidence, before cutting profit taking yesterday. US stocks were range-bound, reflecting mixed views on economic data and uncertainty about the scale of the Fed’s next interest rate hike.

The SET index traded in a range of 1,617.00 and 1,642.17 points this week before closing yesterday at 1,625.92, down 0.62% from the previous week, with a reading of ‘average daily business of 74.32 billion baht. On Thursday, foreign investors were net buyers of 22.6 billion baht and institutional investors bought 2.5 billion. Brokerage firms were net sellers of $3.1 billion and retail investors sold 21.9 billion baht worth of shares.

NEW : Thai and foreign companies filed 784 investment promotion applications in the first six months of 2022, up 4% from a year ago, but the combined value of investments fell 42% to 219, 7 billion baht, according to the Board of Investment. The automotive and digital sectors have seen the strongest growth.

True Corporation said revenue edged up 0.8% year-on-year to 34 billion baht in the second quarter, but fell 3.1% on a quarterly basis, amid high inflation that dragged down undermined purchasing power. The company’s consolidated net loss widened to 761 million baht from 299 million in the second quarter of last year. TrueMove H’s mobile service revenue fell 1.2% year-on-year to 19.9 billion baht.

US Federal Reserve officials remain committed to raising interest rates as high as necessary until inflation slows to a manageable level, as the United States now faces a recession. Chairman Jerome Powell said the Fed may take a break after its September meeting to assess the impact of rate hikes. The Fed Watch Tool now suggests a 65% chance of a 50bp hike in September, and only 35% for a 75bp hike.

Many key indicators in the United States show that inflation has probably peaked. The consumer price index (CPI) in July fell to 8.5% year-on-year from 9.1% in June, while producer prices and housing data also fell.

The central bank of the Philippines raised its benchmark rate an additional 50 basis points to 3.75% on Thursday and signaled that it had room to raise borrowing costs further to combat inflationary pressures.

Fund flows are expected to continue in Thailand’s stock market as the economy recovers, unlike many developed markets, analysts said. Second quarter earnings were much stronger than expected, so the forecast could be revised upwards. Foreigners have been net buyers of 35 billion baht so far this month, and 152 billion for the year to date.

Thailand’s second-quarter GDP grew 2.5% yoy and 0.7% quarter-on-quarter, with a robust rebound expected in the second half thanks to a wider reopening, the easing of Covid measures and economic stimulus measures such as Kon La Krueng phase 5. GDP is expected to grow by more than 3% year-on-year in the third and fourth quarters, compared to less than 3% in the first and second quarters.

Banpu Plc plans capital expenditures worth US$3 billion to US$4 billion over the next five years as ASEAN’s largest coal producer expands its clean energy and energy technology businesses. The company is also diversifying into the health sector.

Central Pattana Plc has announced plans to develop a mixed-use project on a 48 rai plot of land on Phahon Yothin Road in a 50/50 joint venture with its subsidiary Grand Canal Land Plc.

Ratch Group Plc, the country’s largest private power producer by capacity, acquired two energy companies for US$605 million to secure long-term revenues. The purchase covers four new energy assets: a renewable power plant in Thailand, a gas turbine plant in Australia, a combined cycle plant in Vietnam and a battery energy storage system in the Philippines.

The cabinet approved a draft decree authorizing the Ministry of Finance to guarantee repayment of loans and borrowings of up to 150 billion baht by the Petroleum Fund Office. The cash-strapped fund has racked up debts of more than 100 billion baht by subsidizing fuel prices.

Central Pattana Plc has partnered with PTT Plc and Evolt Technology Co, an electric vehicle (EV) charging company, to install charging stations at all Central business complexes by the end of the year. CPN and its partners will spend 200 million baht to install 350 on-ion stations in 37 central shopping malls in 18 provinces.

Energy Absolute Plc, a developer and operator of renewable energy and electric vehicles, is testing a battery-powered locomotive with the aim of expanding into rail transport, through a partnership with Asia Engineering and Services (Thailand) .

Tipco Asphalt Plc, the country’s largest asphalt producer, expects sales in 2022 to exceed the 1.2 million tonnes achieved last year amid growing demand from government construction and landscaping projects. road repair.

The Industrial Estate Authority of Thailand (IEAT) plans to develop a dry port in Udon Thani to make the northeastern province a regional land transport hub linked to the Sino-Lao high-speed rail system.

The government is committed to moving forward with its five-year investment plan for the Eastern Economic Corridor (EEC), aimed at boosting economic growth by 5% per year between 2023 and 2027 and attracting a combined investment of 2 .2 trillion baht.

Supalai Plc expects year-end pre-sales to exceed its 28 billion baht target after hitting 18.2 billion in the first half as several negative factors are expected to ease in the second half. Chief executive Tritecha Tangmatitham predicted that interest rate hikes would be modest and shouldn’t affect homebuyers much.

Mitsubishi UFJ Financial Group, the Japanese parent of Bank of Ayudhya, is in talks to acquire consumer lender Home Credit’s assets in Indonesia and the Philippines, worth an estimated $500 million, Bloomberg reported Thursday.

COMING : China will update its one- and five-year policy rates on Monday. The eurozone will release July’s preliminary manufacturing and non-manufacturing PMIs and the US will release July new home sales on Wednesday. On Thursday, the United States will announce July’s durable goods orders and the Fed will open its annual Jackson Hole meeting, drawing economists and central bankers from around the world.

Domestically, the focus is on politics, as the Constitutional Court will be asked to determine whether Prime Minister Prayut Chan-o-cha’s eight-year term expires this week, or in 2025 or 2027. The Commerce Ministry will release July trade figures on Tuesday, and the SET will hold its annual Thailand investment forum from August 24-26.

Actions to watch: Capital Nomura Securities recommends stocks that will benefit from the recovery in tourism, especially hotel companies. Its investment theme for next week includes four groups: defensive stocks with growth potential such as BDMS, BCH and CHG; high growth and technology companies that depend on domestic demand such as JMT, SINGER, CHAYO, BE8, BBIK and IIG; consumer stocks that are likely to gain as inflation declines, such as ADVANC, TIDLOR, INTUCH, DTAC, CPALL, MAKRO, CRC, HMPRO, ILM, KTC and SNNP; and anti-commodity stocks that benefit from lower oil prices, such as SCGP, GPSC, BGRIM, BCPG, CBG, SCC, TOA, EPG, GULF and SAPPE.

Phillip Securities recommends three themes: stocks that benefit from BoI incentives such as WHA AMATA, AH, SAT, STANLY, GPSC, EA and BPP; BJC and MAKRO retail outlets; and short-term energy values: PTTEP, SPRC and TOP.

Technical view: Capital Nomura sees support at 1614 and resistance at 1650. SCB Securities sees support at 1618 and resistance at 1650.

CRESCENT ENERGY CO: Results of Operations and Financial Condition, FD Settlement Disclosure, Other Events, Financial Statements and Exhibits (Form 8-K)

0

Section 2.02. Results of Operations and Financial Condition.


As reported in a Current Report on Form 8-K filed with the U.S. Securities and
Exchange Commission ("SEC") by Crescent Energy Company (the "Company") on
April 5, 2022, as amended on a Form 8-K/A filed with the SEC on May 19, 2022, on
March 30, 2022, the Company consummated the transactions contemplated by the
Membership Interest Purchase Agreement (the "Purchase Agreement") dated
February 15, 2022, by and among Javelin VentureCo, LLC (the "Purchaser"), a
subsidiary of the Company, Crescent Energy OpCo LLC, a Delaware limited
liability company, and Verdun Oil Company II LLC, a Delaware limited liability
company (the "Seller"), pursuant to which the Purchaser agreed to purchase from
Seller all of the issued and outstanding membership interests of Javelin Uinta,
LLC, a Texas limited liability company and wholly-owned subsidiary of the Seller
that holds certain exploration and production assets located in the State of
Utah (such transactions contemplated by the Purchase Agreement, collectively,
the "Uinta Acquisition").

This Current Report on Form 8-K provides a pro forma statement of operations of
the Company, as described in Item 9.01 below and which is incorporated into this
Item 2.02 by reference, giving effect to the Uinta Acquisition as if it has been
consummated on January 1, 2021. This Current Report on Form 8-K should be read
in connection with the Company's April 5 and May 19 filings referenced above,
which together provide a more complete description of the Uinta Acquisition.

In addition, to the extent required, the information contained in Section 8.01 of this Current Report on Form 8-K is incorporated into this Section 2.02 by reference.

The information contained in this Item 2.02 shall not be deemed to be "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liabilities of that section,
and is not incorporated by reference into any filing under the Securities Act of
1933, as amended (the "Securities Act"), or the Exchange Act.


Item 7.01. FD Regulation Disclosure.

The information contained in Section 8.01 of this Current Report on Form 8-K is incorporated into this Section 7.01 by reference.

Information contained in this Section 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the responsibilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act or the Exchange Act.

Section 8.01 Other Events.

Pro forma financial statements

This current report on Form 8-K provides a pro forma statement of operations, as described in Section 9.01 below, which is incorporated into this Section 8.01 by reference.

                                     ******

Disclosure of Registration Statements

On or about the date of this Current Report on Form 8-K, the Company intends to
file Amendment No. 4 to its Registration Statement on Form S-1 ("Amendment
No. 4") relating to the proposed offering by the Company and a selling
stockholder of shares of Class A common stock, par value $0.0001 per share. In
connection with the filing of Amendment No. 4, the Company is providing certain
additional disclosures to potential investors, the relevant excerpts of which
are set forth below. Capitalized terms used but not defined herein shall have
the meaning assigned thereto in Amendment No. 4.

                                     ******

                                       2

————————————————– ——————————

The Cut Inflation Act of 2022 could accelerate the transition to a low-carbon economy and will impose new costs on our operations.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022
("IRA 2022") into law pursuant to the budget reconciliation process. The IRA
2022 contains hundreds of billions of dollars in incentives for the development
of renewable energy, clean hydrogen, clean fuels, electric vehicles and
supporting infrastructure and carbon capture and sequestration, amongst other
provisions. These incentives could further accelerate the transition of the U.S.
economy away from the use of fossil fuels towards lower- or zero-carbon
emissions alternatives, which could decrease demand for the oil and gas we
produce and consequently materially and adversely affect our business and
results of operations. In addition, the IRA 2022 imposes the first ever federal
fee on the emission of greenhouse gases ("GHGs") through a methane emissions
charge. The IRA 2022 amends the federal Clean Air Act to impose a fee on the
emission of methane from sources required to report their GHG emissions to the
U.S. Environmental Protection Agency ("EPA"), including those sources in the
onshore petroleum and natural gas production and gathering and boosting source
categories. The methane emissions charge will start in calendar year 2024 at
$900 per ton of methane, increase to $1,200 in 2025, and be set at $1,500 for
2026 and each year thereafter. Calculation of the fee is based on certain
thresholds established in the IRA 2022. The methane emissions charge could
increase our operating costs and adversely affect our business and results of
operations.

                                     ******

Summary reserve data based on NYMEX prices

The following table provides historical reserves, PV-0 and PV-10 as of
December 31, 2021 for Crescent Energy Company and the reserves acquired in the
Uinta Acquisition using average annual NYMEX forward-month contract pricing in
effect as of June 30, 2022 ("NYMEX Pricing"). We have included this reserve
sensitivity in order to provide an additional method of presentation of the fair
value of our assets and the cash flows that we expect to generate from those
assets based on the market's forward-looking pricing expectations as of June 30,
2022. The historical 12-month pricing average in our 2021 disclosures under the
heading "Summary Reserve Data based on SEC Pricing" does not reflect the oil and
natural gas futures. We believe that the use of forward prices provides
investors with additional useful information about our reserves, as the forward
prices are based on the market's forward-looking expectations of oil and natural
gas prices as of a certain date, although we caution investors that this
information should be viewed as a helpful alternative, not a substitute, for the
data presented based on SEC Pricing. In addition, we believe strip pricing
provides relevant and useful information because it is widely used by investors
in our industry as a basis for comparing the relative size and value of our
proved reserves to our peers and in particular addresses the impact of
differentials compared with our peers. Our estimated historical reserves, PV-0
and PV-10 based on NYMEX Pricing, were otherwise prepared on the same basis as
our estimations based on SEC Pricing reserves for the comparable period. Reserve
estimates using NYMEX Pricing are calculated using the internal systems of the
management of the Company and have not been prepared or audited by an
independent, third-party reserve engineer, but otherwise contain the same
parameters, except for price and minor system differences.

                                                 Crescent Energy Company    

Acquisition of Uinta

                                                               As of December 31, 2021(1)
Net Proved Reserves:
Oil (MBbls)                                                       209,908                         43,142
Natural gas (MMcf)                                              1,534,371                        141,098
NGLs (MBbls) (3)                                                   78,615                             -
Total Proved Reserves (MBoe)                                      544,252                         66,659
PV-0 (millions) (2)                             $                  12,183            $             2,110
PV-10 (millions) (2)                            $                   7,091            $             1,551
Net Proved Developed Reserves:
Oil (MBbls)                                                       157,868                         25,062
Natural gas (MMcf) (3)                                          1,468,815                         93,735
NGLs (MBbls) (3)                                                   68,499                             -
Total Proved Developed Reserves (MBoe)                            471,169                         40,685
PV-0 (millions) (2)                             $                   9,930            $             1,362



                                       3
--------------------------------------------------------------------------------
                                            Crescent Energy Company              Uinta Acquisition
                                                          As of December 31, 2021(1)
PV-10 (millions) (2)                       $                   5,939            $             1,091
Net Proved Undeveloped Reserves:
Oil (MBbls)                                                   52,040                         18,080
Natural gas (MMcf)                                            65,556                         47,363
NGLs (MBbls) (3)                                              10,116                             -
Total Proved Undeveloped Reserves
(MBoe)                                                        73,083                         25,974
PV-0 (millions) (2)                        $                   2,253            $               748
PV-10 (millions) (2)                       $                   1,152            $               460


(1) NYMEX, PV-0 and PV-10 reserves of Crescent Energy Company and the Uinta

    Acquisition were determined using index prices for oil and natural gas,
    respectively, without giving effect to derivative transactions and were
    calculated based on settlement prices to better reflect the market
    expectations as of that date, as adjusted for our estimates of quality,
    transportation fees, and market differentials. The NYMEX reserves

calculations are based on NYMEX futures prices at close on June 30, 2022

for oil and natural gas. The average adjusted prices of the products on the

the remaining life of the properties is $70.17 per barrel of oil, $4.45 by Mcf

of natural gas and $29.40 per barrel of NGL at December 31, 2021. We

believe that the use of futures prices offers investors

useful information about our reserves, as futures prices are based on

forward-looking market expectations for oil and natural gas prices at

certain date, although we caution investors that this information should be

considered a useful alternative, not a substitute, for the data presented

based on SEC price. See “Item 1A. Risk Factors-Risks Related to Petroleum and

the natural gas industry and our operations – Reserve estimates are dependent on many

assumptions which may prove to be inaccurate. Any material inaccuracy in

reserves estimates or underlying assumptions will have a material effect on the

quantities and present value of our reserves” in our annual report on form

10-K for the year ended December 31, 2021.

(2) Present value (discounted at PV-0 and PV-10) is not a financial measure

calculated in accordance with GAAP as it does not include the effects of

taxes on future net income. Neither PV-0 nor PV-10 represent a

estimate of the fair market value of our oil and gas properties. Our

The PV-0 measure does not provide a discount rate for estimated future cash

flows. The PV-0 therefore does not reflect the risk associated with future cash

flow projections like PV-10 does. PV-0 should therefore only be evaluated in

as part of an assessment of our discounted future net cash PV-10

flows. We believe that the presentation of PV-0 and PV-10 is relevant and

useful to our investors on the future net cash flows of our reserves in

the absence of a comparable measure such as a standardized measure. We and

others in our industry use PV-0 and PV-10 as a measure to compare the

the relative size and value of proved reserves held by companies without regard to

to the tax specificities of these entities. Investors should be

cautioned that neither PV-0 nor PV-10 represents an estimate of the fair

market value of our proved reserves. GAAP does not prescribe any

corresponding measure for PV-10 of reserves based on pricing other than SECOND

Pricing. Therefore, it is not possible for us to reconcile our PV-10

using NYMEX pricing at a standardized measure as determined in accordance with

GAAP.

(3) Natural gas reserves acquired as part of the Uinta acquisition are presented in “wet”

MMcf, which includes NGLs. Crescent Energy Company uses the three-stream reserve

information, with NGL reserves reported separately. Therefore, book

estimates of Crescent Energy Company are not comparable to reserve estimates

    for the Uinta Acquisition.


                                   * * * * *

On a pro forma basis for the Transactions, our capital expenditures, excluding acquisitions, incurred during the year December 31, 2021 and the six months ended June 30, 2022 totaled approximately $231.6 million and $278.9 millionrespectively.

                                   * * * * *

                                       4

--------------------------------------------------------------------------------

Item 9.01 Financial statements and supporting documents.


  (b) Pro Forma Financial Information


The following unaudited pro forma condensed combined financial information of
the Company, giving effect to the Uinta Acquisition, attached as Exhibit 99.1
hereto:

• Unaudited pro forma condensed combined income statement for the

             six months ended June 30, 2022; and



  •   Notes to the Unaudited Pro Forma Condensed Combined Financial Statements.



  (d) Exhibits.



Exhibit                                  Description

99.1* Unaudited pro forma condensed combined income statement for

            the six months ended June 30, 2022.

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).



* Filed herewith.



                                       5

————————————————– ——————————

© Edgar Online, source Previews

Biden, Putin and Xi? Good participation in the G-20, but not enough

0

Comment

Indonesian President Joko Widodo has long put domestic concerns ahead of diplomacy. It is now set to host one of the most important geopolitical gatherings in years. On Thursday, he told Bloomberg News that Russia’s Vladimir Putin and China’s Xi Jinping planned to attend the G20 summit. For image-conscious Jokowi, that counts as a victory – the two leaders have not traveled much since the start of 2020, and bringing together US President Joe Biden and the world’s two top autocrats in Bali could help fight the crisis. global security, energy and climate crises.

But the hard work in preparation for the November summit has only just begun.

Indonesia, hosting the G-20 presidency for the first time this year, will no doubt have hoped for a status-enhancing mandate. It couldn’t have turned out more differently. Russia’s invasion of Ukraine continues to threaten Europe and jeopardize the world’s food supply, and Moscow continues to actively sow divisions among emerging countries. Then there are the growing tensions between the United States and China over Taiwan and many other things. The world is on edge.

For now, the global plan — and Indonesia’s — seems to be to keep the show on the road and the G-20 together. This is important, given the deep differences that have opened up between the mostly wealthy allied governments that support Ukraine and the Global South, and the few opportunities for engagement. There is symbolism in coming together, and Indonesia has already skirted the contentious issue of Putin’s attendance by inviting Ukrainian President Volodymyr Zelenskiy, who will likely join remotely, to attend. Two-way conversations, like the potential one-on-one between Xi and Biden, can have consequences.

Whatever happens, however, simply avoiding the worst is a worrying bar.

There is certainly no real prospect that the Russian war, the biggest issue eclipsing the global agenda, will be resolved in Bali, although a lot can happen by November. It is also true that the G-20 faces a crisis that threatens to permanently divide its membership between those aligned with international sanctions and efforts to isolate Russia over Ukraine, and the others. But all actors can do better.

Indonesia, for starters. Jokowi’s State of the Nation address this week described a country that has reached “the pinnacle of global leadership”, which can serve as a “bridge of peace” between Ukraine and Russia. He must follow through on these laudable diplomatic ambitions and make far more historic political and military ties with Russia and economic ties with Ukraine. Jokowi’s trip to Kyiv and Moscow earlier this summer was a milestone – he was the first Asian leader to visit both since the conflict began – but where did it lead? Indonesia is a major importer of grain and fuel. Putin, apparently, made broad promises regarding security guarantees for the supply of food and fertilizers. Why, then, after the June shuttle diplomacy, does Jakarta appear to have played no significant role in brokering a grain deal to facilitate Ukrainian exports?

The United States, for its part, can encourage Indonesia to follow through on its intentions and maintain common ground. Indonesia was one of the founders of the Non-Aligned Movement during the Cold War. Today, that stance should involve speaking out against a war that violates Jakarta’s foreign policy and pointing out that Moscow talks about food security on the one hand and bombs grain silos on the other. It hit the port of Odessa a day after the grain deal was reached. To do otherwise is to support the Kremlin narrative.

To have the credibility to make these demands, Washington must develop a much more proactive and holistic policy toward Indonesia, Southeast Asia, and the emerging world in general. It is not enough to say, as Antony Blinken did last week in South Africa, that the choices will not be dictated, which means that countries will not be forced to choose sides between China and the States -United. An alternative and coherent vision is needed – and not simply in opposition to Beijing.

Finally, there are areas where all G-20 nations can and must make progress, including climate, which is on the global agenda in November as the UN conference convenes in Egypt. . Last year the G-20 failed. Drought is hurting industries and agriculture from Sichuan to Texas, and the global energy system is creaking. Talking about democracy is laudable, but there could be no better way to demonstrate the rich world’s commitment to the rest than by ultimately paying for everyone to fight and adapt to global warming.

More from Bloomberg Opinion:

• Can Jokowi’s shuttle diplomacy influence Russia? : Clara Ferreira Marques

• On the energy markets, Putin wins the war: Javier Blas

• To save the planet, poor countries must be paid: Mihir Sharma

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

Clara Ferreira Marques is a Bloomberg Opinion columnist and editorial board member covering foreign affairs and climate. Previously, she worked for Reuters in Hong Kong, Singapore, India, UK, Italy and Russia.

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

Going green in the security industry: two key trends shaping a more sustainable future

0






Sustainable development has universally become a top priority, and the transition to a net zero world is a major challenge. Net-zero means reducing greenhouse gas emissions as close to zero as possible, and a growing coalition of countries led by the United Nations has set ambitious targets that cover around 76% of global emissions. This includes China and its “dual carbon” goal of seeing its national CO2 emissions peak before 2030 and then achieve carbon neutrality by 2060. In the security sector, swift and decisive action is needed to ensure we do our best to meet climate goals and create a more sustainable future .

To achieve this goal, security industry players are taking a number of new initiatives that can make a positive difference and two key trends have emerged. First, companies are striving to develop more durable products – made from more durable materials, minimizing the need for replacement or repair, and more energy efficient. Second, they pay more attention to making manufacturing processes as sustainable as possible in terms of energy consumption and materials used.

The good news here is that advances in technology are providing manufacturers with more sustainable products and processes than ever before. In particular, advances in AI (artificial intelligence), the Internet of Things (IoT) and big data have led to a more advanced and intelligent society, as well as more sustainable manufacturing processes and products. . The following sections describe in more detail the two main trends – production and process – emerging in the security industry to improve sustainability.

1) Green production: Creating more sustainable products

The first step towards greener production for security manufacturers lies in the path of new innovations in research and development (R&D), focusing more efforts on reducing the carbon footprint of their products and technologies while maintaining the quality and durability. For example, great strides are being made in reducing data storage power consumption.

Security manufacturers are also rolling out products with longer lifespans, products made from recyclable materials and packaging, and products powered by renewable energy. Each of these initiatives reduces waste and emissions. For example, the demand for solar cameras has increased in recent years due to its well-established efficiency in utilizing the clean and unlimited energy of the sun.

The “all-in-one” product design concept has also gained traction in the security market, as it combines multiple functions into one device, which is beneficial to reduce production materials, accessories and energy consumption. Using 3D technology to create digital prototypes is also gaining popularity, as it reduces the waste of materials and resources once used for prototypes during product development. Through technological innovations, greener designs will both provide a low-carbon product to customers and help them reduce their carbon footprint during use.


2) Green Operation: implementation of sustainable manufacturing processes

Security manufacturers are also adopting greener practices in their manufacturing and day-to-day operations to comply with local laws, regulations and policies aimed at reducing carbon emissions. More and more companies in a variety of industries have set medium and long-term goals for environmental management, ranging from lower carbon production, efficient water use and from waste and chemical management, to greener transformations of the office environment. ISO 14001-compliant manufacturers can bolster their qualifications by reviewing their production process and regularly auditing their suppliers to create a sustainable cycle of production operations and procedures.

As they become more environmentally friendly, manufacturers are looking for ways to apply clean technologies in their production chains. This will reduce the release of hazardous substances, such as wastewater and VOCs (volatile organic compounds), minimizing their negative impact on the environment.

On the operations side, green practices include encouraging paperless offices, choosing energy reduction systems and using recycling systems as part of the move towards energy conservation, reducing consumption and protecting the environment.

In summary, as low-carbon initiatives invade our global communities, the security industry can seize many well-known opportunities to promote sustainable development by producing low-carbon and energy-efficient products, and by leveraging more sustainable manufacturing processes. Many of these practices can also be referred by manufacturers in other industries who have already explored new avenues for cleaner operations.

Hikvision is always striving to improve its care and consideration for the environment, optimize the use of resources, reduce pollutants, and explore low-carbon technologies in its operations and technological innovations. To learn more about Hikvision’s commitment to sustainability, please visit our website and view our ESG report.

Disclaimer

Hikvision Digital Technology Co.Ltd. published this content on August 18, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Aug 18, 2022 11:03:03 PM UTC.

Public now 2022

All news about HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.

2022 sales 91,121M
13,428 million
13,428 million
Net income 2022 16,928 million
2,495 million
2,495 million
Net cash 2022 35,138M
5,178M
5,178M
PER 2022 ratio 17.4x
2022 return 2.84%
Capitalization 295B
43,509M
43,509M
EV / Sales 2022 2.85x
EV / Sales 2023 2.30x
# of employees 52,752
Floating 40.9%

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Medium consensus TO BUY
Number of analysts 20
Last closing price CNY31.30
Average target price CNY50.34
Average Spread / Target 60.8%


LONGi among the 2022 Best Managed Companies in China

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Xian, China, August 17, 2022 /PRNewswire/ — About August 12, 2022, Deloitte China announced the 50 winners of the China’s Best Managed Companies 2022 reward program. LONGi Green Energy Technology Co., Ltd. (LONGi) was among the selected companies, part of the global BMC enterprise with its outstanding performance under Deloitte’s global management excellence standards framework in the four dimensions of “Strategy, Capability, Engagement and Finance”.

The BMC Global Program was co-launched by Deloitte, Bank of Singapore, HKUST Business School and Harvard Business Review. The program has a 29-year history and aims to identify organizations with exceptional and systematic management skills. As the only international award that comprehensively assesses the management system of private enterprises in Chinaall previous winners are “hidden champions” and top private companies in various segments of China.

“The 2022 Best Managed winners demonstrated strong business performance and brand values. Although these companies have faced multiple challenges like COVID-19, they have exemplified resilience and the ability to recover quickly from the pandemic and adapt to new situations. said Xu Kemanaging partner of Deloitte Private China.

“LONGi has always been a strong believer in the long term. It not only takes long-term reliability as the basic principle of product development, but also innovatively promotes the concept of “producing clean energy products from ‘clean energy’ in the photovoltaic industry, adhering to responsible production and assume increasing responsibility for global sustainable development. In an interview with Deloitte China and Harvard Business Review, Zhong Baoshen, Chairman of LONGi, noted that although LONGi is innovative, reliability should be the main standard, so that these long-term energy assets can be preserved and the benefits can be fully utilized.

During this year’s event, representatives from 50 award-winning companies discussed how to transcend the economic cycle and collaborate to achieve greater social value by focusing on the themes of “Co-create customers” and “Co-creation of environment”. Liu Xiaodongsecretary of LONGi’s board of directors, accepted the award on behalf of the company, and announced co-creation initiatives for 2022-2023 on behalf of all BMC awardees as the company’s annual rotating chairman.

About LONGi

Founded in 2000, LONGi is committed to being the global leader in solar technology, focusing on customer-centric value creation for comprehensive energy transformation.

Under its mission of “making the most of solar energy to build a green world” and its brand philosophy of “constant and reliable technology leadership”, LONGi has been dedicated to technological innovation and has established five business areas, covering wafers, cells and mono-silicon modules. , commercial and industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to deliver green power and has more recently embraced green hydrogen products and solutions to support global zero-carbon development. www.longi.com

SOURCE LONGi Green Energy Technology Co.,Ltd

Duke Energy Supports Grid Reliability and Operations with Two New Florida Lithium-Ion Battery Sites | duke energy

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  • Company Completes New Battery Storage Sites in Alachua and Hamilton Counties to Maximize Customer and Network Benefits


  • New Sites Show Duke Energy’s Growing Investment in Advanced Technology and Clean Energy

ST. PETERSBURG, Fla. – Duke Energy Florida today announced two new lithium-ion battery sites in Alachua and Hamilton counties to improve grid operations, increase efficiency and improve overall reliability for surrounding communities.

“At Duke Energy, we are always on the lookout for innovative technologies that can help us better serve Florida customers,” said Melissa Seixas, State President of Duke Energy in Florida. “These battery sites will help us continue to improve local reliability for our customers and provide important energy services to the power grid.”

As the manager and operator of the grid, Duke Energy Florida can leverage the versatility of battery technology to deliver multiple benefits to customers and the power system, including balancing power demand, managing intermittent resources such as than solar power, increasing energy security and postponing upgrades to the traditional power grid.

  • The recently completed Micanopy Battery Site in Alachua County is 8.25 megawatts and is located 15 miles southwest of Gainesville. The site provides a cost-effective solution for targeted energy quality and reliability for the town of Micanopy and its close neighbours.
  • Completed in April, the second site is 5.5 megawatts and is located 1.5 miles south of the Florida-Georgia border in the town of Jennings in Hamilton County. This site will continue to improve power reliability through energy storage as an alternative to installing new, more expensive distribution equipment.

Duke Energy Florida’s continued investment in battery technology reflects the company’s belief that energy storage plays an important and evolving role in how energy is delivered to customers today and in the future. ‘coming.

Earlier this year, Duke Energy Florida announced the completion of three battery projects in Gilchrist, Gulf and Highlands counties. The new sites are part of Duke Energy’s commitment to have six battery sites, totaling 50 megawatts, in operation in Florida this year.

Duke Energy Florida’s Commitment to Renewable Energy

With a combined investment of more than $2 billion, Duke Energy Florida’s solar generation portfolio will include 25 grid-connected solar power plants that will benefit all Florida customers and provide 1,500 megawatts of emission-free generation and approximately 5 million of solar panels in the ground by 2024.

Duke Energy remains committed to the deployment of battery technology in Florida. A 3.5 megawatt solar microgrid and storage site will be added to Johns Hopkins College in Pinellas County. The microgrid will support grid operations and provide backup power to the school when it needs to function as a special needs hurricane evacuation shelter. The microgrid consists of an array of 1 megawatt solar parking canopies, a 2.5 megawatt battery and associated controls, which will store and deploy clean, renewable energy throughout the school and the network. The project improves electrical service and network operations for customers.

In addition to expanding its battery storage technology and solar investments, Duke Energy Florida is investing in transportation electrification to support the growing adoption of electric vehicles (EVs) in the United States with the addition of 627 charging stations EV charging stations, including 52 DC fast chargers, and a modernized system. power grid to provide diversified and reliable energy solutions to better serve our customers.

Duke Energy Florida

Duke Energy Florida, a subsidiary of Duke Energy, has 10,300 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers over a 13,000 square mile service area in Florida.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively possess 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to meet its goals of net methane emissions from its natural gas business and at least 50% carbon reduction from power generation by 2030 and net emissions carbon emissions by 2050. Zero goals also include Scope 2 emissions and some Scope 3 emissions. zero-emission power generation such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on TwitterLinkedIn, Instagram and Facebook.

Media contact: Audrey Stasko
Cell: 315.877.3031
Media line: 800.559.3853
Twitter: @DE_AudreyS

Switch off: the risk for the deployment of a clean energy network

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A national clean energy grid will require 10,000 kilometers of new high voltage transmission lines and towers. Regional and farming communities along the roads will need to be on board for this to happen, but there is already a pushback, as Asma Aziz and Iftekhar Ahmad Explain.

If you’re driving through central Victoria, you might wonder at the signs that say ‘Piss off AusNet’ in shop windows or even mowed down in the grasslands. Communities and farmers are repulsive against plans for new 85-meter towers and transmission lines needed to bring renewable energy to cities.

Expect to see many more of these stories in the years to come. To decarbonize by 2050, we need to build more than 10,000 kilometers of new high-voltage transmission lines to carry renewable energy. That’s according to the Australian Energy Market Operator’s new plan for the energy system, to which Labor pledged ahead of the election.

But local opposition could derail this – even though the influential National Farmers Federation has supported the plan. The plan recognizes this: “As the pace and scale of transformation continues to accelerate…social acceptance will require urgent and continued attention. »

Why do we need more transmission lines?

High voltage transmission lines can deliver electricity economically and efficiently over longer distances. For decades, we have used these transmission lines to balance electricity demand and generation.

Australia’s National Electricity Market is one of the longest interconnected electricity systems in the world, capable of moving electricity between the east coast states, Tasmania and South Australia.

To increase our renewable electricity base, governments have introduced renewable energy zones – our sunniest and windiest places – to encourage investment. But these areas are often far from energy-intensive cities. This is where transmission lines come in.

Building more high-voltage lines will allow us to make the future network more resilient, allowing electricity to be brought in from other areas if an area is not producing as much, or to be exported in the event of a peak in production. This is a key way to solve the problem of intermittency with renewable energy. If the sun is not shining or the wind is not blowing in an area, we can draw energy from the places where it is.

solar farm
Solar and wind farms need grid connections – and that means new power lines.
Zbynek Burial/UnsplashCC BY

Are there alternatives?

As battery technology and other methods of storing electricity improve, it may be possible to increase storage methods rather than relying on large new transmission links.

Vast and sparsely populated Western Australia leads the way on this front. To reduce transmission costs, the state has deployed more than 100 stand-alone power systems that combine renewable energy and storage. Over the next 10 years, WA expects another 4,000.

This model shows us what might be possible for sections of the East Coast network. We could see a decentralized power system, in which local renewable energy is produced and stored locally in stand-alone power systems or micro-grids. Cities like Yackandandah in Victoria are pioneering this local-first approach.

We could postpone or scale down these massive transmission network projects and make the most of our existing transmission lines by strategically deploying virtual transmission capacity. This means setting up battery storage or a small pumped hydro plant, reducing the need to source electricity from distant sources while maintaining the balance between supply and demand.

There is still a lot of work to be done on this front before virtual transmission can begin to reduce the amount of new transmission infrastructure we will need. Early virtual transmission projects like Kennedy Energy Park showed us that we need a better technical understanding of how they work best, as well as updated regulations.

Utilities like Powerlink Queensland are exploring alternatives such as duplicating existing transmission lines or planning lines for areas already under development, such as along highways or forest tracks.

Community advocates worried about the visual and physical impact of new transmission lines often advocate for cables to run underground.

It is possible, but may be more expensive. To bury these high-voltage lines safely, trenches 2 to 3 meters deep are needed, dug in parallel, with control bays every 800 to 1,000 meters. Compared to transmission towers, this actually results in a higher direct impact on the terrain.

Not only that, but you can’t allow deep-rooted trees and shrubs in the easement, which means upkeep. If there is a fault, the affected ground must be dug up. Major bushfires can also transmit significant heat through the ground to cables, so this needs to be taken into account.

Does this exclude underground transmission lines? Not entirely. In fact, in some cases it could be profitable, as the proposed Star of the South offshore wind project demonstrates.

trenching
Burying electrical cables can be cost effective for some projects, but this is a case-by-case approach.
Shutterstock

Could community opposition slow the shift to clean energy?

It is a risk. Efforts to remove emitting sources of electricity from our grid will face a real bottleneck based on the social acceptance of new high-voltage transmission lines.

Even though 83% of us now recognize climate change as a threat, people may change their minds when clean energy solutions are offered close to home. This isn’t new – the “not in my backyard” problem is well known.

So how do we deal with rejection from the community? First, we must recognize that these transmission lines are an imposition. They have a significant footprint on their land corridors, in the form of tall towers, conductors, and the need for access.

Local landowners, neighbors and the wider community often perceive these types of developments – whatever the need – as a symbolic intrusion into their personal property.

Victorian farmers and residents are protesting the AusNet project, believing the new infrastructure will lead to loss of control over their land, an uglier landscape and possible restrictions on farming practices such as irrigation. Their concerns are legitimate. But the need is also great, and time is limited.

We know what’s wrong with these settings. The traditional approach for large pieces of infrastructure has been dubbed decide, announce and defend. It would be a mistake.

Instead, utilities and planners should focus on open community discussions about the environmental impact of proposed overhead transmission lines versus the costs and impacts of underground cabling, as well as virtual site tours. By clearly exposing the problem to the public, utilities have a better chance of gaining social license – community permission – to build the infrastructure we will need.

Asma Aziz, Lecturer in Electrical Engineering, Edith Cowan University and Iftekhar Ahmad, Associate Professor, Edith Cowan University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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2022 Global Building Technology and Services Innovation and Growth Opportunities Report – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global building technologies and services, opportunities for sustainability innovation and growth” report has been added to ResearchAndMarkets.com’s offer.

The global building technologies and services market was worth $971.44 billion in 2021. After a decline of 5.3% in 2020, the market grew by 1.4% in 2021 and will register a CAGR of 4 .6% from 2021 to 2026. By the end of the forecast period, the market will reach $1,274.53 billion.

Companies continue to react to the impact of two major trends; the ongoing coronavirus pandemic and climate change. The pandemic has created financial austerity among public and private organizations, and companies have also accelerated the decarbonization of business operations to gain competitiveness.

As businesses resume business operations and building occupancy after the peak of the pandemic, organizations face challenges in ensuring safe workplaces and sustainability practices such as near-zero or net-zero emissions. Additionally, governments are striving to improve their performance on the Sustainable Development Goals (SDGs) amid economic recovery and post-pandemic challenges. Technologies continue to play a role in the advancement of building technologies and services. A major innovation is the use of digital tools in industry, mainly the construction of information management systems.

Building technologies and services will contribute to the three main goals: smart energy infrastructure, climate-smart cities and green businesses.

These goals lead to sustainable innovation in the marketplace. In this study, the publisher defines sustainable innovation in building technologies and services as solutions that promote environmental sustainability in building operations and environmentally friendly outcomes, such as, but not limited to, energy savings, optimization of resource use and reduction of carbon emissions in the building ecosystem.

A smart energy infrastructure would imply self-sufficiency in energy use and resilience in electricity supply. Next, climate-smart buildings would require energy optimization as well as occupant safety and comfort. Last but not least, green businesses would call for sustainable business operations and the use of environmentally friendly materials. On a global scale, these will contribute to the development of the United Nations Sustainable Development Goals (SDGs).

In this study, the editor segments building technologies and services into building automation systems (BAS); light emitting diode (LED) lighting; heating, ventilation and air conditioning (HVAC) equipment; and facilities management (FM). Market breakdown, forecasts and competitive analysis are provided for the aforementioned segments. As the study focuses on sustainability practices and associated growth opportunities, the breakdown of end users (for market and segments) is outside the scope of the research. Examples of sustainability innovation applications and best practices for each segment are provided in the study.

Main topics covered:

1. Strategic imperatives

2. Analysis of growth opportunities: building technologies and services

  • Scope of analysis

  • Segmentation

  • Definitions of sustainability innovation

  • SDGs

  • Impact of the SDGs on building technologies and services

  • Environmental effects of COVID-19

  • Sustainability topics in building technologies and services

  • Main competitors: building automation systems

  • Main competitors: LED lighting

  • Main competitors: HVAC

  • Main competitors: FM

  • Growth indicators

  • Growth engines

  • Growth constraints

  • Forecast assumptions

  • Revenue forecast

  • Revenue forecasts by technology and service segment

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Revenue forecast analysis by region

  • Achievement of the SDGs in selected countries – 2021

  • Investment in the SDGs

  • Goals for Sustainable Building Technologies and Services

3. Analysis of growth opportunities: BAS

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Sustainable Innovation Applications in BAS – 2021

  • Best practices for sustainability innovation in BAS: Microgrid

  • Sustainability Innovation Best Practices in BAS: District Energy

  • Best Practices for Sustainability Innovation in BAS: District Heating

  • Sustainability Innovation Best Practices in BAS: Building Occupancy

  • Sustainability Innovation Best Practices in BAS: Facility Services

4. Growth Opportunities Analysis: LED Lighting

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Applications of Sustainable Innovation in LED Lighting – 2021

  • Innovation Best Practices for Sustainability in LED Lighting: Off-Grid Lighting

  • Innovation Best Practices for Sustainability in LED Lighting: Smart Controls

  • Innovation Best Practices for Sustainability in LED Lighting: Smart Street Lights

  • Best Practices for Sustainability Innovation in LED Lighting: Circular Lighting

5. Analysis of growth opportunities: HVAC

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Sustainable Innovation Applications in HVAC – 2021

  • HVAC Sustainability Innovation Best Practices: Sustainable District Heating and Cooling (DHC)

  • HVAC Sustainability Innovation Best Practices: Heat Pump

  • HVAC Sustainability Innovation Best Practices: Smart Thermostat

  • HVAC Sustainability Innovation Best Practices: Energy Modeling and Analysis

  • HVAC Sustainability Innovation Best Practices: Refrigerant

6. Analysis of growth opportunities: FM

  • Growth indicators

  • Revenue forecast

  • Revenue forecasts by region

  • Revenue forecast analysis

  • Competitive environment

  • Revenue Sharing – FM

  • Revenue share analysis

  • Sustainable Innovation Applications in FM – 2021

  • Sustainability Innovation Best Practices in FM: Energy Security

  • Best Practices for Sustainability Innovation in FM: Energy Services

  • Sustainability Innovation Best Practices in FM: New Service Model

  • Sustainability Innovation Best Practices in FM: Green Cleaning

7. Universe of growth opportunities

  • Growth opportunity ecosystem

  • Growth Opportunity 1: ESG Proposition

  • Growth Opportunity 2: Blockchain for Green Finance

  • Growth Opportunity 3: Integrated Data Management

  • Growth Opportunity 4: Open Innovation

  • Growth Opportunity 5: Nature-Based Solutions (NBS)

8. Appendix

9. Next steps

For more information on this report, visit https://www.researchandmarkets.com/r/2vv8uc

Alkaline Fuel Cell Power Advan

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TORONTO, Aug. 16, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (ALKFF, financial) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Company”)a diversified investment platform developing affordable, renewable and reliable clean energy and technology assets, is pleased to announce that PWWR Flow, the company’s combined heat and power (“CHP”) brand , is advancing an approximately $2.2 million capital CHP project for a condominium in downtown Toronto, Canada (the “Cogeneration project”). The CHP project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year energy service contract (« ESA“) Time range.

“Our PWWR Flow brand is positioned to generate more immediate revenue and contribute to AFCP profits to complement our longer term alkaline hydrogen fuel cells.commented Frank Carnevale, CEO. “We are actively moving forward in our $50 million sales pipeline of CHP projects, and have already begun discussions to move beyond that.”

A photo accompanying this ad is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307

PWWR Flow project in downtown Toronto

As shown in the PWWR stream acquisition closing press release dated April 22, 2022, the Company has formally notified the relevant condominium company (“Condominium company”) that PWWR Flow is moving forward with the development of the estimated $2.2 million CHP project, targeting a commercial operation date of July 2023. The ESA was signed with Condo Corp on April 21, 2021. The CHP project would produce electricity and heat 24 hours a day, 7 days a week for the base load of the condominium. The electricity produced will be sold to the Condo Corp at a discount of up to 20% from the market price that the Condo Corp would otherwise pay to its local utility company, allowing it to realize significant savings. The heat produced will be sold at the price equivalent to the current heating cost of the condominium. It is a high-efficiency cogeneration system with an estimated annual efficiency of around 75%.

AFCP immediately begins the connection impact assessment study required to connect to Toronto Hydro’s service territory, as well as the final engineering design. The company expects to order the CHP engine in the fourth quarter of 2022, and the company does not anticipate any supply chain issues with delivery.

Financial update

As stated in the company’s report Q2 financials as of August 12, 2022, AFCP had approximately $3.1 million in cash at the end of the quarter. To supplement this cash balance, the company plans to secure debt from the cogeneration systems project, AI 2191 Yonge Ltd., and this latest project, by the fourth quarter of 2022. In the meantime, the AFCP will continue to allocate its current cash to the development of new projects.

2022 outlook report

As indicated in our press release dated June 20, 2002, the Company provided a outlook for the remainder of 2022, a key component of which includes continued growth of the PWWR Flow Streams business. AFCP intends to expand the company’s install base of assets by leveraging the continued revenue and profits generated from PWWR Flow as we continue to develop the $50 PWWR Flow projects. millions of dollars in our pipeline over the next few years.

ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

The AFCP is a diversified investment platform developing affordable, renewable and reliable energy assets and clean technologies. We are bringing “Power to the People” today, combining a stable revenue stream with a forward-looking vision to commercialize our advanced hydrogen fuel cell technology to meet the massive needs of the global market and ultimately account, generate attractive returns for investors.

AFCP operates through two global entities: Fuel Cell Power NV, a wholly-owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an AFCP brand in Canada.

  • Fuel Cell Power SA focuses on the development, production and marketing of micro-combined heat and power (“micro-CHP”) systems based on advanced alkaline fuel cell technology that generates zero CO2 emissions. Fuel Cell Power NV achieves significant milestones to deliver an alkaline fuel cell to market in 2024.
  • PWWR stream focuses on the development, ownership and operation of combined heat and power (“CHP”) assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs for customers in multi-residential and commercial applications. PWWR Flow has contracted existing cogeneration assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development.

The AFCP is well positioned to deliver “power to the people” in the global energy transition while providing a platform for diversified cleantech growth for investors.

Further information is available on the Company’s website at https://www.fuelcellpower.com/and the Company encourages investors and other interested stakeholders to follow it on:

LinkedIn, Twitter, Facebook, instagram and Youtube. The Common Shares are listed on the NEO Exchange (“NEO”) under the symbol “PWWR», the OTC Venture Exchange « OTCQB » under the symbol «ALKFF» and on the Frankfurt Stock Exchange under the symbol «77R and “WKN A3CTYF.

For more information, please contact:

Frank Carnevale

Chief executive officer

+1 (647) 531-8264

[email protected]

Forward-looking information

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In some cases, forward-looking statements can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”, “expects” , “intends”, “anticipates”, “believes” or variations of these words and phrases or statements that certain actions, events or results “could”, “could”, “could”, “could”, ” occur” or “accomplish”. Forward-looking statements may include, but are not limited to, statements regarding the Company’s technology, intellectual property, business plan, objectives and strategy.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of the Company’s management regarding the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Because forward-looking statements and information relate to future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements and information contained in this press release are made as of the date hereof, and no obligation is given to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

NEITHER THE NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE NEO EXCHANGE POLICIES) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

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CGE Energy announces corporate restructuring to focus on

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BRIGHTON, Michigan, Aug. 15, 2022 (GLOBE NEWSWIRE) — CGE Energy, Inc. (“CGE”, OTC: CGEI) is pleased to announce that it is proceeding with the next phase of its business plan, focusing on accelerating development and promoting the world’s first self-powered macro cell tower system.

In order to highlight this unique and revolutionary product, which was created by CGE’s wholly-owned subsidiary – Aradatum, Inc. – and to bring additional value to the Company, the CGE Board of Directors voted to unanimously last week to take all the necessary measures to effect the merger of CGE into a future subsidiary of Aradatum.

Upon completion of the merger, each of CGE’s registered shareholders will hold a number of Aradatum shares equivalent to the CGE shares they held at the time of the merger. CGE’s Board of Directors has made its approval conditional upon completion of the merger on a tax-free basis, and the merger will be submitted to CGE’s shareholders for final approval at the Company’s general shareholders’ meeting.

About CGE Energy, Inc.

CGE Energy, Inc. is a holding company with two wholly owned subsidiaries, Aradatum, Inc. and Clean Green Energy, Inc.

About Aradatum, Inc.

Aradatum is a technology company that has created the world’s first self-powered macro cell tower that you can place literally anywhere. Aradatum creates the infrastructure to solve the geographic and energy problems caused by the limited range of next-generation wireless networks. The towers provide secure and instant communication for telecommunications and network infrastructure equipment running advanced applications for 5G, private networks and edge computing. www.aradatum.com

About Clean Green Energy, Inc.

Clean Green Energy, Inc. develops long-term energy projects that solve the unique energy challenges of its commercial, municipal and non-profit customers. The Company provides both services and products enabling its customers to reduce their energy consumption; reduce their initial, operating and maintenance costs; and generate environmental benefits. www.cgeenergy.com

Contact information for press releases

CGE Energy, Inc.
Paul Schneider, VP Marketing
248-446-1344
[email protected]

This release may contain “forward-looking statements” which fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “are intended” , “probably will result”, “believes”, “expects”, “will continue”, “anticipates”, “estimates”, “intends”, “plans”, “contemplates”, “seeks”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations regarding its future plans and performance. All forward-looking statements included in this release are based on information available to us as of the date hereof and speak only as of the date hereof. We promise not obligation to publicly update or revise any forward-looking statement. Actual results may differ materially from those projected in the forward-looking statements.

UK trade body calls on government to prioritize domestic energy production

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As sanctions on Russia lead to supply and price shocks, the British offshore energy industry representative body, Offshore Energies UK (OEUK), has urged the government to prioritize the production of national energy to protect consumers from these ramifications.

Offshore Energies UK – formerly Oil & Gas UK (OGUK) – issued its statement on Monday after a House of Commons briefing showed that in June 2022 the UK imported no oil, gas Where coal imports from Russia. According to UK trade statistics, this was “the third month in a row without importing Russian gas, but the first month (since 2000, when this data is available) without importing gas, oil or coal from Russia”.

Energy security concerns exacerbated by Russia’s attack on Ukraine led to the recent spike in global energy prices, which reversed the trend of weak demand and operating losses seen the previous year.

Bearing this in mind, the OEUK warned that global efforts to phase out Russian oil and gas will impact supply and prices for years to come, reiterating calls for a long-term energy strategy. which recognizes that 85% of UK households depend on gas. for heating.

Commenting on this, Will Websterresponsible for energy policy at the OEUK, remarked: “Consumers are only too aware of the impact that the reduction in Russian supplies has had on the world price of oil and gas, and the reality is that these effects will be here to stay for at least the medium term. This is why the UK must prioritize the energy produced here.

“Today, gas heats 85% of UK homes. In the short to medium term, governments must therefore support oil and gas in UK waters and carefully manage already declining production levels. At the same time, these same companies are also building the energy system of the future, including developing renewables to meet more of the UK’s electricity needs, while developing hydrogen and carbon capture which could play a role in home heating and industrial energy.

The House of Commons briefing comes as figures show the UK’s trade deficit has risen to its highest level as a percentage of GDP since records began. This is partly because the UK imports far more oil and gas than it exports.

“We see the reality of the complexity of transitioning to a low-carbon energy future, with a clear need to manage supply and demand as a whole and not in isolation. The transition is a necessity, it is why we continue to stress the need for consensus on a comprehensive, long-term energy strategy that prioritizes UK energy generation and accelerates the transition for industries and consumers,” concludes Webster.

To ease the cost of living crisis in the country, the British government recently imposed a one-off tax on oil and gas operators. However, Offshore Energies UK has warned of the perceived negative effects of this tax on new investment, saying it could already undermine major investment needed to keep Britain’s lights on.

In other OEUK-related news, the trade body recently revealed it is on the hunt for a new chief executive as its current chief is due to step down at the end of the year after nearly eight years. at this post.

Seylan with Hayleys Solar enables easy payment plans for solar power – News Features

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In its attempt to ensure that customers always receive convenient products and services that will enable and enhance life, Seylan Bank has partnered with Hayleys Solar to provide Seylan credit cardholders with Easy Payment Plans (EPPs) to purchase solar units.

With the current energy crisis across the country and the resulting escalation in electricity costs, switching to solar power has become the most sustainable option. However, the high initial cost of installing the panels has limited the use of this alternative. With Seylan Bank’s partnership with Hayleys Solar, the option of going solar becomes accessible and affordable to the public.

The easy payment plan for Seylan cards offers zero percent installment options from three months to six, 12 and 24 months for a minimum transaction of Rs 10,000 and a maximum of Rs 1 million. Customers can switch to the easy payment plan within seven working days by calling the hotline on 0112008888.

Speaking about the partnership, Seylan Bank’s Head of Cards, Ruchith Liyanage said, “Seylan Cards, as an ‘Essential Card for Essential Needs’, has always sought to meet the essential financial needs of our customers. We are constantly trying to identify areas where we can provide them with practical solutions. Especially in these difficult times, Seylan Cards offers a variety of products and services to ease the financial burden of our customers. Also, from a sustainability perspective, it will encourage more people to switch to renewable energy, which will reduce our carbon footprint and our fossil fuel expenditure. As a responsible company, it is our duty to make these sustainable sources of energy accessible to as many Sri Lankans as possible, which could provide a long-term solution to the current energy crisis.

The partnership between Seylan Bank and Hayleys Solar, the renewable energy arm of Fentons Ltd, who are both leaders in their respective industries, ensures the validity of the business. Hayleys Solar primarily focuses on renewable energy and energy storage systems. With over a decade of market excellence, the company has successfully completed over 75MW of solar installations island-wide, making it the undisputed leader in engineering, procurement and Construction (EPC) in Sri Lanka. Energynet, a solution provided by Hayleys Solar, offers a wide range of off-grid, hybrid and battery backup systems.

Fentons Ltd Managing Director Hasith Prematillake said: “As difficult circumstances continue to prevail, it is imperative that we find ways to work together to foster practical and alternative renewable energy solutions. As a responsible organization focused on providing efficient energy solutions, we introduced Energynet to help consumers maintain their lives, operations and productivity. This solution makes it possible to use solar energy even in the event of a power cut, which also provides a solution to nighttime power cuts, thanks to the energy stored in the battery. We are pleased to partner with leading banking and financial institutions to facilitate payments and credit card systems to support our customers during these challenging times. »

Hayleys Solar Managing Director/Director Roshane Perera said, “We strive to develop solutions that can meet the country’s ever-changing energy needs. Energynet is one such ideal solution for today’s power outages and unavailability of fuel, as it allows consumers to power essential devices needed to conveniently continue their daily lives. We are delighted to be able to provide these solutions to help tackle the electricity crisis and we hope to introduce even more innovative solutions in the future.


Andhra Pradesh: Students to participate in energy saving campaign

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To spread the message of energy efficiency and conservation, the National Energy Conservation Mission (SECM) plans to involve students in various activities.

Faced with the constant increase in energy demand and the rapid depletion of resources, the SECM intends to mobilize the student community and fight effectively against energy waste.

The formation of energy clubs in schools is being actively considered to facilitate the awareness of the inhabitants of the state about energy efficient appliances.

This initiative will create a platform for exchanging innovative ideas on energy conservation. The SECM, in collaboration with the Department of Education, will set up these energy clubs and, to date, approximately 75 schools have expressed interest in forming them.

Special Chief Secretary (Energy) K. Vijayanand instructed officials to devise activities to motivate students and teachers and ensure the success of the campaign.

Pilot project

SECM also implemented a pilot project in 85 model schools where old appliances were replaced with efficient electrical appliances such as LED bulbs, tube lights and energy-saving fans.

An impact analysis was also carried out in 51 model schools in order to scientifically assess the actual energy savings.

Based on this study, it is expected that about 6.31 lakh units of electricity per year can be saved in 85 model schools by implementing energy efficiency measures.

What experts say to do before, during and after filing for bankruptcy

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Personal bankruptcy filings have fallen dramatically since the start of the coronavirus pandemic, but with rising interest rates and declining government assistance, the number of filings will likely increase this year, experts say.

“I’ve had more calls in the past few weeks than in the previous six months,” said Charles Juntikka, a New York-based attorney who specializes in bankruptcy law.

Bankruptcy attorney David Leibowitz, principal of Chicago-based Lakelaw, said his firm had “already seen filings in the Chicago area increase by about 25% in the past two months.”

The variety of government stimulus programs, improved tax credits, and protections against evictions and loan foreclosures put in place over the past two years have reduced the number of bankruptcy filings.

More life changes:

Here’s a look at other stories that offer a financial angle on life’s milestones.

However, community lockdowns and general Covid unrest may also be a factor, suggests Juntikka. “It’s hard for people to deal with the fact that they have to file,” he said. “It takes emotional energy, and they feel guilty about it.

“For every person I help, there are four or five who are miserable.”

Bankruptcy may seem like rock bottom for cash-strapped Americans, but it’s also a fresh start and an opportunity to climb out of a hole that only seems to be getting deeper for many.

It’s not an easy process. A bankruptcy filing stays on your credit history for 10 years and makes it difficult to get a loan or mortgage.

“If you can pay off your debts outside of bankruptcy, you should,” said Leibowitz, former chair of the American Bankruptcy Institute’s Consumer Bankruptcy Committee. “However, if your wages are garnished, your car has been impounded and you are being hounded by collection agencies, bankruptcy may be imperative.”

If you have decided that bankruptcy is your best option, your first decision is to hire an attorney to help you through the process. You can file in court yourself, but the cost of mistakes is high.

Under which chapter of the code should you file? What forms do you need to complete? What mistakes should you avoid? Bankruptcy law is complex and although you can save money by filing for yourself, you could lose a lot more in the end.

“People don’t do their own dental work,” Juntikka said. “You must consult a lawyer.”

What to do

The bankruptcy process involves a series of steps and procedures that must be followed. The type of bankruptcy filing you choose will depend on your situation.

Chapter 7 bankruptcy filings, which represent a significant majority of personal filings, can ultimately discharge most, but not all, personal debt. Alimony, tax debts and student loans are among the liabilities that can remain for the petitioners. Most of your assets are subject to seizure and sale, although there are some exemptions, such as retirement account balances.

To qualify for Chapter 7, you must pass a resource test. Essentially, your income must be below the median income of the state where you are filing. Otherwise, you must file under Chapter 13 of the code.

In this situation, some unsecured debt can be forgiven and you can keep some personal property, but this essentially creates a debt repayment plan, usually over a five-year period.

Here are the individual steps you need to follow when filing for bankruptcy:

  • Gather the documents you’ll need, including tax returns, pay stubs, bank, brokerage, and retirement account statements, appraisals of real estate and other assets you own, vehicle registrations, and everything other document relating to debts you owe or assets you own.
  • All bankruptcy filers must complete a credit counseling course before and after filing. Fees are usually less than $50 and may be waived if you are unable to afford them.
  • Complete and print the appropriate bankruptcy forms, get your filing fee ($338 for a Chapter 7 filing in federal court), file the forms in court, and send the necessary paperwork to your appointed bankruptcy trustee.
  • Attend the meeting — probably online — of your creditors with your trustee. It takes place approximately one month after the submission of your file.

All of these steps are essential, and having a lawyer can help you avoid making mistakes.

What you should not do

The biggest mistake people make in bankruptcy filings is trying to game the system. All of your assets can be seized in a bankruptcy and failure to disclose them can result in criminal charges

Just ask tennis player Boris Becker, who is currently facing a prison sentence in the UK for concealing assets. Do not transfer assets to family or friends before filing your return. It will be recovered.

Honest debtors get a fresh start, while dishonest ones can potentially go to jail.

David Leibowitz

chief of Lakelaw

Do not maximize your credit resources before filing your file. The court will not look favorably on him. Never use funds from retirement accounts to pay off your debts.

“Truth and transparency are essential to the bankruptcy process,” Leibowitz said. “Honest debtors get a fresh start, while dishonest ones can potentially go to jail.”

What to do after bankruptcy

Filing for bankruptcy may seem like the ultimate failure, but there is life after bankruptcy. Leibowitz advises her clients to take the following steps to get their lives back in order:

  1. Set a budget you can stick to.
  2. Open a savings account and save a month’s worth of income to provide a financial cushion for unexpected expenses.
  3. Get a secure credit card and use it only for expenses you can pay off at the end of the month.
  4. Pay your rent and bills on time.
  5. Regularly check your credit report to make sure that no debts released in the event of bankruptcy remain unpaid on your profile.

If you follow a disciplined plan, you can quickly improve your credit profile and even qualify for a Federal Housing Administration mortgage in as little as three years.

“There’s such a stigma associated with bankruptcy,” Leibowitz said. “But the idea of ​​rehabilitation and forgiveness is embedded in our constitution.

“Bankruptcy can give people a second chance.”

Bloom Energy Co. (NYSE:BE) CMO Sharelynn Faye Moore sells 5,831 shares

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Bloom Energy Co. (NYSE:BE – Get Rating) CMO Sharelynn Faye Moore sold 5,831 shares in a trade that took place on Thursday, August 11. The shares were sold at an average price of $30.00, for a total transaction of $174,930.00. Following the completion of the sale, the marketing director now directly owns 31,396 shares of the company, valued at approximately $941,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.

Bloom Energy Stock Performance

NYSE BE traded at $1.26 during Friday trading hours, hitting $30.46. 3,815,218 shares of the company were traded, against an average volume of 3,460,867. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $37.01. The stock has a market capitalization of $5.43 billion, a price-earnings ratio of -19.04 and a beta of 3.19. The company’s 50-day moving average is $18.93 and its 200-day moving average is $19.24.

Bloom Energy (NYSE:BE – Get Rating) last released its quarterly earnings data on Tuesday, August 9. The company reported ($0.20) EPS for the quarter, meeting analyst consensus estimates of ($0.20). Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 28.46%. The company posted revenue of $243.24 million for the quarter, versus analyst estimates of $228.30 million. In the same quarter last year, the company achieved EPS of ($0.34). The company’s revenue increased 6.5% year over year. Analysts predict Bloom Energy Co. will post -0.96 EPS for the current year.

Institutional investors weigh in on Bloom Energy

Major investors have recently changed their stake in the company. Allworth Financial LP acquired a new position in Bloom Energy during Q1 worth approximately $32,000. Resolute Advisors LLC bought a new position in Bloom Energy shares in Q2 for about $28,000. Millburn Ridgefield Corp raised its position in Bloom Energy shares by 209.3% in the first quarter. Millburn Ridgefield Corp now owns 2,032 shares of the company worth $49,000 after acquiring 1,375 additional shares in the last quarter. Catalyst Capital Advisors LLC increased its position in Bloom Energy shares by 209.3% in Q1. Catalyst Capital Advisors LLC now owns 2,032 shares of the company worth $49,000 after acquiring 1,375 additional shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Bloom Energy in Q1 valued at approximately $68,000. Institutional investors and hedge funds hold 65.68% of the company’s shares.

Changes to analyst ratings

Several equity analysts have recently published reports on BE shares. BMO Capital Markets raised its price target on Bloom Energy from $20.00 to $29.00 in a research note on Thursday. Wells Fargo & Company raised its target price on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Northland Securities launched coverage on Bloom Energy in a research report on Friday, July 8. They issued an “outperform” rating and a target price of $28.00 on the stock. Piper Sandler kicked off Bloom Energy coverage in a research report on Wednesday, June 8. They issued a “hold” rating and a target price of $20.00 on the stock. Finally, Raymond James raised its target price on Bloom Energy from $23.00 to $29.00 in a research report on Wednesday. Five equity research analysts gave the stock a hold rating, eight issued a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

About Bloom Energy

(Get a rating)

Bloom Energy Corporation designs, manufactures, sells and installs solid oxide fuel cell systems for on-site power generation in the United States and around the world. The Company offers Bloom Energy Server, a power generation platform that converts fuels, such as natural gas, biogas, hydrogen or a mixture of these fuels, into electricity through an electrochemical process without combustion.

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Tina Smith applauds climate work in Senate Democrats’ landmark bill

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After a series of setbacks over the past year, US Senator Tina Smith’s work to pass major climate legislation culminates with an estimated $740 billion package that also focuses on health care and taxes.

Smith said in an interview that she had no doubt, looking back on her time in Washington, that she would see the legislation as “one of the most important things I’ve had the chance to work on.” .

The bill is a far cry from the roughly $3.5 trillion bill introduced last year. The deciding vote by Senate Democrats rejected that package, even though its price tag was reduced, leaving the party to scramble for a compromise.

As this fall’s midterm elections drew closer, it seemed unlikely that Democrats would be able to use the budget process they envisioned to avoid a filibuster in the Senate and pass major measures on climate, taxes and prescription drugs.

That changed in recent weeks, however, and Senate Democrats were able to overcome unanimous GOP opposition to pass the more limited package that Smith and Democratic U.S. Sen. Amy Klobuchar also support.

The House voted 220 to 207 along party lines on Friday and sent the bill to Democratic President Joe Biden’s office.

“The climate and clean energy provisions are the most important thing we’ve ever done in this country when it comes to clean energy and addressing the climate crisis,” Smith said.

Republicans are furious with the legislation, which also allows the government to negotiate certain drug prices for Medicare beneficiaries.

“The Democrats’ response to the energy crisis they’ve exacerbated is a war on American fossil fuels to fund Green New Deal freebies for their wealthy friends,” GOP Senate Minority Leader Mitch McConnell said. in a press release earlier this month. “And their answer to the runaway inflation they’ve created is a bill that experts say won’t significantly reduce inflation at all.”

The climate components of the legislation amount to approximately $373 billion. Smith’s influence on the bill, according to his office, includes working on direct payment for nonprofits so they can benefit from the $260 billion in clean energy tax credits. provided for in the legislation, as well as $9.7 billion to help rural electric cooperatives and more than $1.7 billion for the Rural Energy for America program.

“The positive benefits of the clean energy elements significantly outweigh the negative impacts of the pro-fossil fuel components of this bill,” Smith said.

Gabriel Chan, an associate professor at the University of Minnesota’s Humphrey School of Public Affairs, who focuses on energy and climate policy, said “looking at some of the modeling of the impacts of this bill, you expects it to significantly reduce carbon emissions.”

“It helps direct federal dollars toward clean energy investment,” Chan said, but later noted “a question mark over whether this will be enough to address some of the inequities in the energy system.” .

Azure Power announces delay in filing Form 20-F

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NEW DELHI, August 12, 2022 /PRNewswire/ — Azure Power (NYSE: AZRE) (“Azure” or “the Company”), a leading provider of sustainable energy solutions and producer of renewable energy in Indiaannounced that it would not be able to file its annual report on Form 20-F for the year ended March 31, 2022 (the “2022 Form 20-F”) with the United States Securities and Exchange Commission (the “SEC”) by August 16, 2022as extended from the original maturity date of August 1, 2022pursuant to Form 12b-25 filed with the SEC on August 1, 2022.

The delay in filing Form 20-F 2022 is due to the company’s ongoing review of its internal control and compliance framework. These files are progressing with the help of the Company’s advisors. The Company is making every effort to file its 2022 Form 20-F as soon as possible. The Company does not expect the delay in filing its 2022 Form 20-F to impact its ongoing renewable energy business activities.

Azure’s new leadership, backed by the board, will improve the company’s processes going forward.

About Azure Power

Azure is a leading independent provider of sustainable energy solutions and a power producer in India is on a mission to create value for all stakeholders through high performance renewable energy assets. Azure developed india first large-scale solar project in 2009 and since then Azure has grown rapidly to become a leader in the development and operation of large-scale renewable energy projects in the country. Azure also partners with commercial and industrial customers on their decarbonization journey by providing comprehensive solutions for their clean energy needs.

For more information on Azure, visit: www.azurepower.com

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the future financial and operating directions of the Company, operating and financial results such as estimates of remaining nominal contractual payments and portfolio execution rate, as well as assumptions related to the calculation of the aforementioned measures. Risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in commercial and retail prices of electricity generated by traditional utilities; changes in the rates at which long-term PPAs are entered into; changes in policies and regulations, including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; reduction; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain relationships with third parties, including its solar partners; its ability to meet the covenants of its credit facilities; weather and other risks identified in registration statements and reports that the Company files from time to time with the SEC. All forward-looking statements contained in this press release are based on information available to us as of the date hereof, and the Company undertakes no obligation to update such forward-looking statements.

Contact Investor
[email protected]

Media Contact
[email protected]

SOURCEAzure Power

ADAMS RESOURCES AND ENERGY, INC.

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HOUSTON, August 12, 2022

HOUSTON, August 12, 2022 /PRNewswire/ — Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”) today announced that it has signed an Amended and Restated Senior Secured Revolving Credit Facility. The agreement increases the Company’s credit facility $40 million at $60 million and prolongs the maturity of May 2024 at August 2025. The pricing structure of the new facility is substantially unchanged from the existing credit facility, with a move to a SOFR-based pricing grid. At closing time, Adams only has $8.2 million of letters of credit drawn against the revolver.

“This amended credit facility provides Adams with an extended maturity and increased flexibility as we execute our strategy in the years ahead,” said Tracy Ohmart, Executive Vice President, Chief Financial Officer and Treasurer. “We would like to thank Wells Fargo for their continued confidence in Adams as we seek to continue to grow our business.”

Additional details of the amended credit agreement can be found in the company’s Form 8-K filing with the United States Securities and Exchange Commission.

About Adams Resources & Energy, Inc.

Adams Resources & Energy, Inc. is engaged in the marketing, transportation, terminal and storage of crude oil and the tanker transportation of liquid and dry bulk chemicals through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, LLC and GulfMark. Terminals, LLC. For more information, visit www.adamsresources.com.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements relate to expected future events and results of operations, business strategies and other aspects of our business or results of operations. In many cases, you can identify forward-looking statements by terms such as “anticipate”, “intend”, “plan”, “project”, “estimate”, “continue”, “potential”, “should “, “could”, “can”, “will”, “goal”, “direction”, “outlook”, “effort”, “expect”, “believe”, “predict”, “budget”, ” projection”, “goal”, “forecast”, “target” or similar words. Statements may be forward-looking even without such particular words. Where in a forward-looking statement the Company expresses a expectation or belief regarding future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially those expressed or implied in forward-looking statements, and any other risk factors i included in Adams’ reports filed with the Securities and Exchange Commission. However, there can be no assurance that such an expectation or belief will occur or be realized. Except as required by law, Adams undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Company details

Tracy E. Ohmart
Executive Vice President, Chief Financial Officer
(713) 881-3609

Investor Relations

Gary Guyton Where Steven Hooser
Three-Part Advisors
(214) 442-0016

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SOURCEAdams Resources & Energy, Inc.

Shell buys 100MW solar farm capacity in UK from Anesco

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Strong points :

  • Renewable energy generated by the solar and wind projects will be supplied to UK customers through power purchase agreements (PPAs).
  • Shell plans to invest up to £25bn in Britain’s energy system over the next decade

Global energy conglomerate Shell has announced that it is working on the purchase of four solar farm projects with a total capacity of 100 MW which are currently being developed by Anesco. Located in North Wales, Chester, South Northamptonshire and North Lincolnshire, the sites have been developed by Anesco over the last 18 months and are currently in the final planning stages.

According to the statement released by Shell, the renewable energy generated by these projects will be supplied to UK customers through power purchase agreements (PPAs).

Shell said the deal built on a long-standing relationship between the two players, who successfully collaborated on a battery storage plant at Shell’s Bacton gas terminal site in Norfolk. Additionally, in March 2022, Anesco completed the development of the third of a trio of solar parks for Shell in the Netherlands. These parks included a 12 MWp generator in Emmen, a 14 MWp solar park in Friesland and a 30 MWp solar installation in Sas Van Gent.

Lukas Fleming, Head Onshore Power, Shell UK, commented on the development: “Shell is building a business that spans the generation, trading and supply of clean energy to homes and businesses here in the UK. Acquiring these four solar power projects from Anesco will enable us to meet a greater share of the growing demand for renewable energy from our UK customers. »

Shell has set a global target to be a net-zero energy company by 2050 and plans to invest up to £25bn in Britain’s energy system over the next decade, subject to the approval of the board of directors. Increasing renewable energy generation is key both to delivering Shell’s strategy and to helping the UK achieve its 2050 net zero ambition.

Shell is developing some of the world’s leading solar energy projects to accelerate decarbonisation. The Gangarri Solar Project in Australia is a large 120 MW solar energy project that will generate clean electricity from 330,000 photovoltaic panels.

Then there is also a 58 MW solar project in Canada being built by Shell and Silicon Ranch next to Shell’s energy and chemical park in Scotford.

PHX Energy Receives TSX Approval for Standard Renewal

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CALGARY, Alta., Aug. 11, 2022 (GLOBE NEWSWIRE) — PHX Energy Services Corp. (“PHX Energy“or the”society“) (TSX: PHX) today announced that the Toronto Stock Exchange (“TSX“) has accepted PHX Energy’s notice of intention to renew its normal course issuer bid for a further one-year term (the “ORCNThe previous issuer bid expires on August 15, 2022. Pursuant to the Company’s previous issuer bid, the Company purchased on the open market through the facilities of the TSX and other alternative Canadian trading platforms and canceled a total of 1,499,900 common shares (“Ordinary actions“) of the Company at an average price paid of $4.50 per common share.

Under the Renewed Offer, PHX Energy may purchase for cancellation, from time to time, if PHX Energy deems advisable, up to a maximum of 3,622,967 common shares, representing 10% of the company’s public float. of 36,229,675 common shares as of August 3, 2022. Purchases of common shares may be made in the open market through the facilities of the TSX and other alternative Canadian trading platforms at the prevailing market price at the time of this transaction. The actual number of common shares that may be purchased for cancellation and the timing of such purchases will be determined by PHX Energy, subject to a maximum daily purchase limit of 27,486 common shares, which is equivalent to 25% of daily volume. PHX Energy’s trading average of 109,947 common shares for the six months ended July 31, 2022. PHX Energy may make one bulk purchase per calendar week that exceeds the daily redemption restrictions. All common shares purchased by PHX Energy pursuant to the issuer bid will be cancelled.

The issuer bid will commence on August 16, 2022 and will end on August 15, 2023 or on such earlier date as the issuer bid terminates or terminates at PHX Energy’s option.

PHX Energy believes that, in a still volatile market environment, the prevailing market price sometimes does not reflect the underlying value of its common stock and the repurchase of its common stock for cancellation presents an attractive opportunity to improve PHX Energy’s per-share metrics and thereby increase underlying value for its shareholders. PHX Energy intends to use the Tender Offer as another tool to enhance long-term total shareholder return in conjunction with management’s disciplined capital allocation strategy.

About PHX Energy Services Corp.

The Company, through its directional drilling subsidiaries, provides horizontal and directional drilling technologies and services to oil and natural gas producing companies in Canada, the United States and the Middle East through a partnership with National Energy Services Reunited Corp.

The common shares of PHX Energy trade on the Toronto Stock Exchange under the symbol “PHX”.

For more information, please contact:

John Hooks, CEO; Michael Buker, President; or Cameron Ritchie, senior vice president of finance and chief financial officer

PHX Energy Services Corp.
Suite 1400, 250 2nd Street SW
Calgary, AB T2P 0C1
Such. : 403-543-4466 Fax. : 403-543-4485 www.phxtech.com

Caution Regarding Forward-Looking Statements

This press release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This information includes, but is not limited to, PHX Energy’s intentions regarding the issuer bid and purchases thereunder and the effects of redemptions under the issuer bid. Although PHX Energy believes that the expectations and assumptions on which forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements as PHX Energy cannot guarantee that they will prove to be accurate. Because forward-looking statements address future events and conditions by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are described in greater detail in PHX Energy’s Annual Information Form which has been filed on SEDAR and can be viewed at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof, and PHX Energy undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

Wind company to train local workers in clean energy

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ALBANY – Sunrise Wind and state economic and labor leaders announced Wednesday a program to recruit and train workers in the city’s South End for union construction jobs they say will be critical to the transition towards clean energy.

Lieutenant Governor Antonio Delgado joined Sunrise Wind, the Center for Economic Growth and the Greater Capital Region Building and Construction Trades Council to make the announcement at 35 Broad St.

Sunrise Wind said it would commit $300,000 to recruit and train workers through a program in partnership with the Center for Economic Growth. Sunrise Wind is an offshore wind project between Ørsted, a wind energy company, and Eversource, a New England energy supplier.

According to a release announcing the grant, the funding comes from the $1 million Upper Hudson Workforce Development Fund created by the Sunrise Wind Project and will be used to fund the apprenticeship readiness program. multi-trades (MAPP), a pre-apprenticeship program that recruits and trains workers for unionized apprenticeships in construction.

It also aims to bring more diversity to the building trades. The funds will cover participants’ salaries, training and emergency financial needs. Fifteen to 20 participants will register in 2022 and another 15 to 20 in 2023.

After being accepted, participants will first work in paid positions under qualified supervision to rehabilitate homes and other community sites to develop their vocational skills before enrolling in MAPP for more qualified classroom education, officials said. After graduating, participants are offered “direct entry,” a state labor department-facilitated path to union apprenticeship programs.

Sunrise Wind will require hundreds of skilled workers to construct and install the project, including the construction of advanced foundation components and other work at the Port of Coeymans, according to Wednesday’s announcement.

Woodside Hires Strohm for Scarborough Emergency Response System

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Strohm has been contracted to manufacture and deliver two thermoplastic composite pipe (TCP) flowlines to Australian liquefied natural gas (LNG) developer Woodside Energy. The technology will be an integral part of relief well emergency response plans for the well construction phase of the Scarborough field development.

The Scarborough field development in the Exmouth sub-basin off the coast of Western Australia will include up to 13 subsea production wells to be constructed and linked to a floating platform moored 900m away of water depth. Gas from the field will be processed at Pluto LNG’s expanded export facility near Karratha. In its entirety, the development represents an investment of US$12 billion (A$16.2 billion).

“The emergency response system, with two 600m long TCP Flowlines, will be stored onshore for rapid field deployment in the unlikely event of a drilling-related source control incident. Two floating drilling rigs would pump high-density destruction fluid, using well destruction manifolds on the seabed. The TCP Flowlines would be laid on the seabed to connect the manifolds, facilitating mixing of the destruction fluid into a relief well,” Strohm said in a statement.

This is the first time TCP has been chosen for this application, the company added.

Strohm will deliver the TCP Flowlines with each coiled on storage and installation baskets which can be lowered to the seabed from a local Inspection, Maintenance and Repair (IMR) vessel.

Fabienne Ellington, Strohm’s Vice President for Middle East and Asia Pacific, said: “Having recently successfully installed a TCP Jumper for Woodside in their Julimar field, we are very proud that our technology has been selected. for their vital emergency response system. This collaboration further develops the strong working relationship between our two companies.

Strohm, Australia representative Robby O’Sullivan added: “The Scarborough Reservoir is one of Australia’s biggest discoveries and is estimated to contain 11.1 trillion cubic feet (2P) of dry gas. . TCP was chosen because it is a light, smooth bore tube and is easy to transport and deploy at sea, making it ideal in an emergency response situation. It is also very compact and can be safely stored on reels or pallets.

Aaron McPhee, Woodside Energy Well Delivery Manager, said, “The TCP streamlines are another component of our suite of source control equipment for the Scarborough project. Technology allows us to implement rapid response as part of our source control plans. »

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Woodside’s Scarborough LNG project sued over environmental assessment

Indian lawmakers pass energy conservation law

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BENGALURU, India — India took a step closer to meeting its climate targets on Tuesday when lawmakers in the lower house of parliament approved legislation that would require greater use of renewable energy and force industrial polluters to pay a price for the carbon they emit.

The bill establishes a minimum requirement for the use of renewable energy for businesses and residential buildings. It also grants clean energy users carbon saving certificates that can be sold or traded and sets a new standard for energy efficiency in homes, which account for 24% of India’s electricity consumption.

There are also penalties for companies that do not use a sufficient amount of renewable energy sources to power their operations.

The legislation will now go through the upper house of parliament.

The bill is “a positive step” towards India’s climate goals, said Madhura Joshi, head of India’s energy transitions at E3G, a climate change think tank.

“The share of clean energy sources powering Indian industries and homes will definitely increase as a result of this bill,” he said.

Last week, India pledged to reduce emissions from activities for the country’s economic growth by 45% by 2030 from 2005 levels. The country also plans to achieve half of its energy needs from non-fossil energy sources by 2030 and to promote a federal government program that encourages people to adopt green lifestyle changes.

“Every unit of energy saved or conserved is essential to reducing emissions,” said Bharath Jairaj, who leads the India energy program at the World Resources Institute. Including large residential buildings in building codes that require energy savings is a key part of the bill and reducing emissions, he said.

Scientists say reducing greenhouse gases is key to limiting the effects of climate change, which has already brought hotter weather and more devastating floods to India.

The bill is also the first time the Indian government has proposed a carbon trading scheme. Unlike a few other parts of the world, the so-called carbon market is still a nascent idea in India, Jairaj said.

It is “set to become an important tool to reduce greenhouse gas emissions in India”, he added.

The Associated Press’s climate and environmental coverage receives support from several private foundations. Learn more about AP’s climate initiative here. The AP is solely responsible for all content.

Indian lawmakers pass energy conservation bill – Metro US

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BENGALURU, India (AP) — India took a step closer to meeting its climate goals on Tuesday when lawmakers in the lower house of parliament approved legislation that would require greater use of renewable energy and force polluters manufacturers to pay a price for the carbon they emit.

The bill establishes a minimum requirement for the use of renewable energy for businesses and residential buildings. It also grants clean energy users carbon saving certificates that can be sold or traded and sets a new standard for energy efficiency in homes, which account for 24% of India’s electricity consumption.

There are also penalties for companies that do not use a sufficient amount of renewable energy sources to power their operations.

The legislation will now go through the upper house of parliament.

The bill is “a positive step” towards India’s climate goals, said Madhura Joshi, head of India’s energy transitions at E3G, a climate change think tank.

“The share of clean energy sources powering Indian industries and homes will definitely increase as a result of this bill,” she said.

Last week, India pledged to reduce emissions from activities for the country’s economic growth by 45% by 2030 from 2005 levels. The country also plans to achieve half of its energy needs from non-fossil energy sources by 2030 and to promote a federal government program that encourages people to adopt green lifestyle changes.

“Every unit of energy saved or conserved is essential to reducing emissions,” said Bharath Jairaj, who heads India’s energy program at the World Resources Institute. Including large residential buildings in building codes that require energy savings is a key part of the bill and reducing emissions, he said.

Scientists say reducing greenhouse gases is key to limiting the effects of climate change, which has already brought hotter weather and more devastating floods to India.

The bill is also the first time the Indian government has proposed a carbon trading scheme. Unlike a few other parts of the world, the so-called carbon market is still a nascent idea in India, Jairaj said.

It is “set to become an important tool to reduce greenhouse gas emissions in India”, he added.


The Associated Press’s climate and environmental coverage receives support from several private foundations. Learn more about AP’s climate initiative here. The AP is solely responsible for all content.

45 years of preservation – Powerlines

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For 45 years, Seattle City Light has had the longest running conservation program in the country. Since its inception in 1977, utility-supported energy efficiency measures have been installed in residential, commercial and industrial facilities throughout our service territory. Through these legacy and current programs, City Light’s annual load has been reduced by over ~1,224,000 megawatt hours, which is equivalent to the annual electricity consumption of over ~146,700 average Seattle homes. In 2021, we supported our customers’ projects with more than $12.2 million in energy efficiency incentives. City Light’s suite of energy saving programs has saved customers over $196 million on their energy bills.

Conservation is a win-win solution for our customers and City Light. Helping our customers use less electricity is the most cost-effective way to reduce bills and meet the growing energy needs of our communities. Using our electricity supply more efficiently means we don’t need to acquire additional energy resources to power our region, even if demand increases.

In addition to having the longest running conservation program in the country, City Light is also the first utility in the country to be carbon neutral and achieved it in 2005. This achievement is the result of hydroelectricity generation by City Light for 118 years, beginning with our first installation in Cedar Falls in 1904. Since then, we have expanded our facilities throughout Washington State, from the robust Boundary hydroelectric project in the northeast to the three power-generating dams electricity from the Skagit Hydroelectric Project nestled below the peaks of the North Cascades. National Park. In fact, 86% of the electricity consumed by City Light customers is produced by hydroelectricity.

We are proud of our 45 years of conservation efforts and would like to thank our customers who are committed to conserving and preserving our environment. Let’s continue to hold this commitment together for the next 45 years and beyond.

Viasat (NASDAQ:VSAT) PT reduced to $48.00

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Viasat (NASDAQ:VSAT – Get a rating) had its price target lowered by Raymond James equity researchers from $51.00 to $48.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the communications equipment provider’s stock. Raymond James’ price target suggests a potential upside of 38.05% from the current stock price.

Several other stock analysts have also recently commented on the stock. B. Riley lowered his price target on Viasat shares from $145.00 to $100.00 and set a “buy” rating on the stock in a Tuesday, May 31 research report. TheStreet downgraded Viasat shares from a “c” rating to a “d” rating in a Wednesday, May 25 research note. Needham & Company LLC cut its price target on Viasat shares from $58.00 to $44.00 and set a “buy” rating for the company in a Thursday, July 14 research note. Morgan Stanley cut its price target on Viasat shares from $49.00 to $34.00 and set an “equal weight” rating for the company in a Friday, July 1 research note. To finish, StockNews.com downgraded Viasat shares from a “hold” rating to a “sell” rating in a Friday, May 27 research note. One analyst has assigned the stock a sell rating, one has assigned a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, Viasat has an average rating of “Hold” and an average target price of $56.50.

Viasat price performance

Viasat stock opened at $34.77 on Tuesday. Viasat has a 52-week low of $25.38 and a 52-week high of $68.76. The company’s 50-day moving average price is $31.42 and its two-hundred-day moving average price is $39.51. The company has a quick ratio of 1.06, a current ratio of 1.50 and a debt ratio of 0.91. The stock has a market capitalization of $2.63 billion, a P/E ratio of -165.57 and a beta of 1.24.

Viasat (NASDAQ:VSAT – Get a rating) last reported results on Wednesday, May 25. The communications equipment vendor reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.33). Viasat had a negative return on equity of 0.58% and a negative net margin of 0.56%. The company posted revenue of $701.70 million for the quarter, versus a consensus estimate of $724.40 million. During the same period of the previous year, the company achieved EPS of $0.11. Viasat’s quarterly revenue increased by 17.8% compared to the same quarter last year. On average, equity analysts expect Viasat to post -0.52 earnings per share for the current year.

Institutional entries and exits

Hedge funds have recently been buying and selling shares of the company. Retirement Systems of Alabama increased its stake in Viasat by 12.8% in the first quarter. Retirement Systems of Alabama now owns 232,613 shares of the communications equipment provider worth $11,352,000 after purchasing an additional 26,439 shares last quarter. Rhumbline Advisers increased its stake in Viasat by 3.3% in the 4th quarter. Rhumbline Advisers now owns 189,312 shares of the communications equipment provider valued at $8,432,000 after buying an additional 6,063 shares last quarter. SG Americas Securities LLC increased its stake in Viasat by 71.2% in the 1st quarter. SG Americas Securities LLC now owns 30,893 shares of the communications equipment provider valued at $1,508,000 after buying an additional 12,844 shares last quarter. Octavia Wealth Advisors LLC bought a new position in Viasat in Q1 worth approximately $212,000. Finally, Qube Research & Technologies Ltd bought a new position in Viasat in Q4 worth $214,000. 83.19% of the shares are currently held by hedge funds and other institutional investors.

About Viasat

(Get a rating)

Viasat, Inc provides broadband and communications products and services worldwide. The Company’s Satellite Services segment offers fixed broadband services via satellite, including high-speed Internet access and voice over Internet Protocol services to consumers and businesses; in-flight entertainment and aviation software services for commercial airlines; community internet services; mobile broadband services, including satellite internet services to power offshore vessels, cruise ships, consumer ferries and yachts; and energy services, which include ultra-secure IP connectivity solutions, bandwidth-optimized over-the-top applications, industrial Internet of Things big data enablement, and machine learning analytics at the forefront of the industry.

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Gautam Adani takes new tycoon risk to the next level

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Indian billionaire Gautam Adani addresses delegates during the Bengal Global Business Summit in Kolkata, India April 20, 2022. REUTERS/Rupak of Chowdhuri – RC2WQT9C8YGF

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MUMBAI, Aug 9 (Reuters Breakingviews) – Gautam Adani is a different kind of Indian tycoon. The 60-year-old college dropout and son of a trader is a first-generation entrepreneur who became the world’s fourth-richest man by building and buying up critical energy and infrastructure assets at lightning speed. There’s none of the obvious financial debauchery that has shattered many of his rivals in recent years, but other concerns cast a shadow over the billionaire who is starting to get too big to fail.

At some $220 billion, the combined market value of the seven listed companies in the Adani group, which all bear the name of the industrialist, has increased tenfold in three years. Gautam Adani leads as chairman and is flanked by his wife, brother, two sons and a few nephews in various roles. The family’s power rests on large stakes of up to 75%, including in flagship Adani Enterprises (ADEL.NS) which houses data centers, roads and airports and incubates new projects.

Growth is both organic and fueled by acquisitions. A $10.5 billion deal in May for the Indian unit of Holcim (HOLN.S) makes the group the country’s second-largest cement maker. It operates seven airports, all but one clawed back through government privatizations since 2019. These build on Adani’s existing quasi-duopoly alongside the state in ports and power transmission. After a big buy from SoftBank Group (9984.T) read more, Adani also has the nation’s largest portfolio of existing and under-construction renewable energy assets.

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The tycoon’s animal spirits lurk in otherwise tamed industrial nature. Eight of the 10 Indian business groups covered by Credit Suisse’s infamous “House of Debt” series (CSGN.S) released a decade ago ran into serious financial difficulties after then-central bank governor Raghuram Rajan , launched a review of bank assets in 2015. quality. Some peers such as the Ruia brothers of Essar were stripped of their trumps. Only one of this notorious club, Gautam Adani, is still borrowing at a rapid pace. Even India’s other richest man, second-generation industrialist Mukesh Ambani, was aiming for net debt zero for Reliance Industries (RELI.NS) after watching rivals, including his brother Anil Ambanisink.

Adani’s group didn’t go that far but they got out of debt. While the amount borrowed by listed companies has more than tripled to 2.3 trillion rupees ($30 billion) over the past decade, overall net debt has fallen to around 4 times EBITDA. It has also diversified its sources of financing, reducing its dependence on state banks and extending the time available to repay its debts: 50% of the debt is made up of capital market instruments and the repayments s extend from 2026 to 2046. Most of the group’s activities, with the exception of property and loans, are captured by listed entities where credit rating agencies see few obvious signs of weakness: Adani buys assets cash generators and its bidding behavior for contracts or acquisitions is not considered aggressive.

On the contrary, the Indian tycoon is going the extra mile to win over debt investors. Buyout firm Apollo Global Management (APO.N), for example, announced in May that it was buying Adani’s entire $750 million investment in Mumbai International Airport. Strategic backers are also joining us: France’s TotalEnergies (TTEF.PA) acquired 20% of Adani Green Energy (ADNA.NS) last year in a $2.5 billion deal. dollars, and Abu Dhabi International Holding Company in May injected around $2 billion into three Adani companies including Adani Transmission (ADAI.NS).

However, the attractiveness of the Adani group has limits. A good number of clients of major Indian institutions and Wall Street are keeping their distance partly due to attractive valuations: Adani’s four largest companies by market capitalization are trading between 260 and 725 times earnings, according to Refinitiv data. , and also look expensive on other metrics against peers, including Goldman Sachs (GS.N)-backed Renew Energy (RNW.O). TotalEnergies only made its deal after securing a discount of around 40% off the quoted price.

The exorbitant prices are probably a turnoff for regular fund managers as well. The group attracts some of the usual suspects solely because of its combined 5% weighting of its listed companies in the MSCI India index, but Adani Enterprises only attracted 132 institutions and funds, excluding strategic entities, in the over the past year, compared to 468 for Reliance. , Refinitiv data show. Brokerages aren’t paying attention either: Refinitiv, for example, doesn’t show any earnings estimates on its data portal for three Adani companies worth more than $100 billion combined. This is unusual for large entities.

However, the lack of appreciation is not one-sided either. A spokesperson for Adani Group says it has not courted analysts because it typically only sells shares when seeking strategic investors. The group expects analyst coverage of its companies to increase in the coming years as it enters the next phase of its growth. This might help address other concerns.

One is a perceived key man risk stemming from Adani’s closeness to the government. Like Ambani, Adani hails from Prime Minister Narendra Modi’s home state of Gujarat, long considered the home of India’s most astute businessmen. The two tycoons have aligned their ambitions with those of the country’s infrastructure and energy needs. Political change will present itself as a test whenever it happens, even though the group is already operating in different states ruled by different ruling parties and coalitions. Investors are less worried about the success of Ambani’s Reliance, as they have seen it thrive for many decades.

A bigger concern is a most cited complaint among analysts and fund managers: that the value of its closely held companies has been inflated by opaque Mauritius-based funds. After the group’s shares fell in 2021, a government minister, in a written response to parliament, revealed that the securities regulator was investigating some Adani companies without providing further details. Such probes can last for years and quietly die out. For his part, Adani says the regulator continues to approve all of his proposals. Whatever the merits, such reputational concerns could hamper Adani’s ability to rally external support if leverage or access to capital becomes an issue.

All of this creates a potential headache for New Delhi as Adani ventures deeper into the economy. His success also counts for the rich countries who rely on him to deploy ambitious projects to help India meet its climate commitments. India’s needs are crying out for financially prudent infrastructure tycoons. The relentless rise, however, of a holder of such large assets, which makes many investors nervous, is almost as unnerving as one with too much debt.

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Editing by Antony Currie and Katrina Hamlin

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A study reveals that 100% of renewable energies would be profitable in 6 years – pv magazine International

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A new study by Stanford University researcher Mark Jacobson describes how 145 countries could meet 100% of their usual energy needs through wind, water, solar and energy storage. The study concludes that in all countries considered, lower cost energy and other benefits mean that the investment required for the transition is amortized in six years. The study also estimates that globally, such a transition would create 28 million more jobs than it would lose.

As renewables make up a larger share of the global energy mix and targets are put in place to increase it further, there are many concerns about the cost that a radical change in our energy systems will entail. And the intermittent nature of wind and solar also creates concerns about insufficient supply and possible outages.

The latest models of energy systems by Stanford University researcher Mark Jacobson, however, show that for 145 countries, the energy transition too 100% wind, water, solar and storage would pay for itself in six years, and would ultimately cost less than to continue with the current one. energy systems.

“Worldwide, WWS reduces end-use energy by 56.4%, annual private energy costs by 62.7% (from $17.8 to $6.6 trillion per year) and costs annual social (private plus health and climate) energy costs by 92.0% (from $83.2 billion to $6.6 trillion per year) at a present value cost of $61.5 trillion,” Jacobson said in his latest article “So WWS requires less energy, costs less and creates more jobs than the status quo.”

He described the model in “Low-cost solutions to global warming, air pollution, and energy insecurity for 145 countries”, which was recently published in Energy and environmental sciences. It builds on Jacobson’s earlier work by adding new countries, more recent energy consumption data from all regions, and calculations to address uncertainty in the future price of battery energy storage. , the role that batteries will play and the development of newer technologies such as the vehicle to the grid. But despite these uncertainties, Jacobson is certain that technological barriers do not present a major obstacle to the transition.

“(About) 95% of the technologies needed to implement the proposed plans are already commercialized,” he says.

The study also finds that while jobs would be lost in the mining and fossil fuel segments, 28 million more jobs would be created than lost overall. Only Russia, Canada and parts of Africa are expected to suffer net job losses, as the economies in these regions are heavily dependent on fossil fuels.

While the study provides clear evidence that a full transition to 100% renewable energy is both technically and economically possible, Jacobson cautions that many uncertainties remain.

“Many additional uncertainties exist. One of the most important is whether enough political will can be mustered to make a transition at the rapid pace needed,” he said. “However, if the political will can be mustered, then transitioning the world entirely to clean, renewable energy should significantly reduce energy needs, costs, mortality from air pollution, global warming and energy insecurity while creating jobs, compared to the BAU.”

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Center to Move New Delhi International Arbitration Center (Amd) Bill to LS

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The central government will table the “New Delhi International Arbitration Center (Amendment) Bill, 2022” in the Lok Sabha on Monday.

Justice Minister Kiren Rijuju will propose the New Delhi International Arbitration Center Amendment Bill 2019 for consideration.

The Act provides for the establishment of the New Delhi International Arbitration Center and designates it as an institute of national importance.

The Arbitration Center replaces the International Center for Alternative Dispute Resolution.

The law states that the Arbitration Center will endeavor to facilitate the conduct of international and domestic arbitration and conciliation.

The bill plans to include the conduct of other forms of alternative dispute resolution. But the mode of conduct of arbitration and other forms of alternative dispute resolution will be specified by the central government through regulations.

The Act allows the Union Government to provide for the removal of any difficulties in the implementation of the Act for up to two years from the date the Act comes into force. The bill increases this period to five years.

The House will also hold a discussion of a bill to amend the Energy Conservation Act 2001 and will also be considered.”

–IANS

miz/dpb

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Traffic Watch: Road Construction Roundup for Washtenaw County, August 7

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ANN ARBOR, MI — There are a handful of construction projects in Washtenaw County that could impact commute times, traffic and road closures during the week.

Here is a list:

At the corner of West Stadium Boulevard and Liberty Street: The right-turn lane at the corner of West Stadium Boulevard and Liberty Street will be closed from 9 a.m. Monday, August 8 through Friday, August 19 to allow Corby Energy Services to establish a site. area. The project includes a connection to a new gas line on West Stadium Boulevard.

All eastbound traffic on Liberty Street will pass on the inside lane as well as southbound traffic on West Stadium Boulevard

Earhart Road: There will be a complete closure of Earhart Road from Geddes Road to Glazier Way from 7 a.m. on Tuesday August 9 until 5 p.m. on Saturday August 20.

Meanwhile, Stante Excavating is installing utilities on Earhart Road for a new subdivision. The closure will remain 24 hours a day during construction.

The eastbound lane of East Jefferson Street between Thompson Street and Maynard Street: The lane will be closed to all traffic between Thompson Street and Maynard Street for a University of Michigan demolition project. The streets are scheduled to reopen at 5 p.m. on Friday, August 12.

READ MORE: Railroad works, demolition project closing 2 Ann Arbor streets south of downtown

South Fourth Avenue: The street will be closed to create a work area for a crane at 100 S. Fourth Ave. starting at 9 a.m. on Tuesday, August 9. Access to businesses and driveways will be available at all times. The closure is expected to last until Thursday, August 11.

READ MORE: 2 Ann Arbor streets closed for crane installation, subdivision work

East Ellsworth Road: There will be a lane change on East Ellsworth Road between Stone School Road and Shadowood Drive until 5 p.m. on Friday August 12. Westbound traffic will be moved to the left turn lane of the road through the construction zone. Eastbound traffic will remain normal.

READ MORE: Prepare for construction backups on Ann Arbor’s busy road near I-94

South State Street from East William Street to East Liberty Street: Fonson Company, the city’s contractor, will replace water mains, storm sewers, sidewalks, streetlights and roadway through Friday, September 2.

Northbound traffic will be diverted to Northwestbound Packard Street, South Division Street, East Washington Street back to South State Street. Southbound traffic will be diverted to East Washington Street, South Fifth Avenue, westbound Packard Street back to South State Street.

Maple Road Bridge (Foster): This bridge over the Huron River is still closed to all traffic. The Maple Road Bridge was closed in early July and maintenance work is expected to be completed in October.

READ MORE: 2 Ann Arbor area historic bridges closed for maintenance

Events leading to street closures:

– Downtown Ann Arbor Street closures from 4:00 p.m. Thursday to 6:00 a.m. Monday through October 31:

  • William’s Main Street in Washington
  • West Liberty Street from Ashley to Main
  • East Liberty Street from Main to Fourth
  • West Washington Street from Ashley to Main

-Main Street Area Ann Arbor Social District Thursday through Sunday, 4 p.m. to 11 p.m.

  • Main Street from William to Huron.
  • 4th Avenue from William to Huron.
  • Washington Street from Ashley to 5th Avenue.
  • Liberty Street from Ashley to 5th Avenue.
  • Ashley Street from Liberty Street to Washington Street.

OTHER AREAS IN WASHTENAW COUNTY:

Packard Road: Packard Road between US-23 and Carpenter Road in Pittsfield Township is closed to all traffic as it undergoes road reconstruction. The project should be completed by the end of August or the beginning of September, depending Washtenaw County Highways Commission. A detour map is available here.

Crane Road: Pittsfield Township can expect a lane closure at Crane Road between Textile Road and US-12 until August 12. The project behind this closure involves a sanitary facility.

Munger Road: The road between Textile Rd and US-12. is closed for sanitary installation. The project has been extended until August 19.

Gotfredson Road: The Township of Salem will continue to experience intermittent lane closures on Gotfredson Road between M-14 and Old N. Territorial Rd through the end of September.

Construction of the Pontiac Trail intersection and the North Territorial Road roundabout is still underway in Salem Township until mid-September. The intersection will continue to be closed to all traffic during construction, according to Washtenaw County Highways Commission.

Liberty Road between Zeeb Road and Wagner Road: There will be intermittent lane closures on Liberty Road between Zeeb Road and Wagner Road in Scio Township until August 11. The project involves permit work to install a center left turn lane.

Zeeb Road between Miller Road and Peters Road: The northbound lane of Zeeb Road between Miller Road and Peters Road in Scio Township will be closed for trail installation from Saturday August 6th.

The work is expected to take a week, weather permitting, according to a Washtenaw County road commission. Release. The track will reopen at the end of each day until installation resumes the following morning.

Liberty Road and Zeeb Road Intersection: The intersection in Scio Township is closed to all traffic while the roundabout is being constructed. The project began July 5 and is expected to be completed by mid-August, according to a Washtenaw County highways commission. Release.

Jackson Road near Parkland Plaza: Scio Township Road will experience a lane closure and rotational closure until August 19 for Scio Township Sanitary Maintenance.

Geddes Road: The Township of Superior can expect a lane closure on Geddes Road, just west of Prospect Road until August 12.

Huron River Parkway: The Huron River Parkway between North Territorial Road and Strawberry Lake Road in Webster Township will experience a daytime road closure until August 12 for drainage improvements.

To track road closures and other construction projects, visit Washtenaw County Highway Commission website or MDOT website.

Learn more about the news from Ann Arbor:

Ann Arbor OK closes streets for return of University of Michigan football

Toxic spill could take weeks to reach Ann Arbor drinking water intake, officials say

Ann Arbor council authorizes legal action against Huron River polluter

Berkshire CEO-elect Abel is selling his stake in the energy company he ran for $870 million

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Gregory Abel, CEO of Berkshire Hathaway Energy and who is slated to succeed Warren Buffett as CEO of Berkshire, walks through the crowd at Berkshire Hathaway Inc’s first in-person annual meeting since 2019 in Omaha, Nebraska, USA, April 29, 2022. REUTERS/Scott Morgan

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Aug 6 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said on Saturday that Vice Chairman Greg Abel, who is next to succeed billionaire Warren Buffett as chief executive, has sold his 1% stake in the company’s Berkshire Hathaway Energy unit for $870 million.

In its quarterly report, Berkshire said the energy unit acquired Abel in June as part of a deal between them and the family of late billionaire philanthropist Walter Scott, who own an 8% stake.

Buffett’s Omaha, Nebraska-based conglomerate took a $362 million capital charge, reflecting the premium to stake value reflected on its books.

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Berkshire now owns 92% of Berkshire Hathaway Energy, whose businesses include energy, utility and pipeline operations and a major US real estate brokerage firm.

Scott, originally from Omaha, was a longtime Berkshire manager and friend of Buffett, who died last September at the age of 90.

The sale of Abel suggests the Scott family stake could be worth $7 billion. Berkshire ended June with more than $105 billion in cash.

“I suspect that if Abel sells, Walter Scott’s estate could also be liquidated,” said Edward Jones & Co. analyst James Shanahan.

CFRA Research analyst Cathy Seifert added, “It was a little surprising that there hadn’t been a prior regulatory filing for such a large transaction.”

Shanahan and Seifert cover Berkshire.

Scott’s family could not immediately be reached for comment. Berkshire Hathaway Energy did not immediately respond to a request for comment.

Abel, 60, a hockey fan who grew up in Edmonton, Alta., joined Berkshire Hathaway Energy, then known as MidAmerican Energy, in 1992, eight years before Berkshire took over.

He became the head of MidAmerican in 2008 and the vice chairman of Berkshire overseeing its dozens of non-insurance businesses in 2018.

Buffett turns 92 on August 30. He said in May 2021 that if he stepped down, Abel would become Berkshire’s chief executive.

Abel and Ajit Jain, Berkshire’s vice president overseeing its insurance business, have each received $19 million in each of the past three years. Buffett sets their compensation. Read more

Shanahan said Abel’s sale “makes me wonder if he’ll buy Berkshire stock. He doesn’t own a lot and could use the proceeds to get more skin in the game.”

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Reporting by Jonathan Stempel in New York; Additional reporting by Maria Ponnezhath in Bengaluru; edited by Diane Craft

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How Malaysia Ended Up Owing $15 Billion to the Sultan’s Heirs

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  • By Rozanna Latiff and A. Ananthalakshmi/Reuters, KUALA LUMPUR

Malaysia is scrambling to protect its assets as descendants of the last sultan in the Philippines’ remote region of Sulu seek to enforce a $15 billion arbitration award in a dispute over a colonial-era land deal.

In 1878, two European settlers signed an agreement with the sultan for the use of his territory in present-day Malaysia – an agreement that independent Malaysia honored until 2013, paying the monarch’s descendants about $1,000 a year .

Now, 144 years on from the original deal, Malaysia is set to receive the second-largest arbitration award on record for stopping payments after a bloody incursion by supporters of Sultan Mohammed Jamalul Alam’s heirs during of which more than 50 people were killed.

Photo: Reuters

“This is a fascinating and unusual case,” said solicitor Paul Cohen, co-lead counsel to the Sultan’s heirs at UK law firm 4-5 Gray’s Inn Square.

For years, Malaysia has largely denied the claims, but last month two Luxembourg subsidiaries of state energy company Petronas received a notice of seizure to enforce the award the heirs won in February.

The arbitration decision in France follows an eight-year lawsuit by the heirs and $20 million in funds raised for them from unidentified third-party investors, according to interviews with key figures in the case. and legal documents seen by Reuters.

Malaysia did not participate in or recognize the arbitration – allowing heirs to present their case without rebuttal – despite warnings that it would be dangerous to ignore the process.

The plaintiffs, some of them retirees, are Filipinos leading middle-class lives, a far cry from their royal ancestors in the Sultanate of Sulu who once sprawled over rainforest-covered islands in the southern Philippines and parts of Borneo. .

The heirs say the 19th century lease was a commercial lease, which is why they chose arbitration. They also demanded compensation for the vast reserves of energy that have since been discovered in the territory they ceded in the Malaysian state of Sabah in Borneo.

Malaysia said the sultanate ceded its sovereignty and the arbitration was illegitimate.

“Arbitration is a sophisticated fiction, disguised as a legal process,” said Uria Menendez, a Spanish law firm representing Malaysia.

Malaysia was granted a stay in France pending an appeal – a process that could take years – but the award remains enforceable worldwide under a UN convention on arbitration.

Malaysia honored the colonial-era deal until 2013, when supporters of the late Jamalul Kiram III, who claimed to be the rightful Sultan of Sulu, attempted to reclaim Sabah.

Clashes erupted when around 200 supporters arrived in boats from the Philippines and lasted nearly a month.

Kiram, who claimed to be the “poorest sultan in the world”, was not one of the court-recognized heirs receiving payments from Malaysia.

The eight arbitration claimants – including Kiram’s daughter and cousins ​​– who received the annual payment condemned the attack.

Until the intrusion, the Malaysian Embassy in Manila annually issued a check to claimants for “surrender money”, according to checks and correspondence from the embassy to heirs and shared with Reuters by the lawyers. heirs.

Then-Malaysian Prime Minister Najib Razak said he stopped the payments due to public anger over the incursion, publicly acknowledging the reason for the first time.

“I felt it was my duty and responsibility to protect the sovereignty of Sabah and the people of Sabah,” he said, adding that he had no plans for judicial retaliation.

The applicants, through their attorneys, declined to be interviewed.

Cohen, the attorney for the heirs, first heard about their claims from an oil and gas expert he cross-examined in 2014 in an unrelated case.

Knowing they didn’t have the financial means, in 2016 Cohen turned to Therium, a British company that funded legal actions by raising funds from institutional investors, including a sovereign wealth fund.

Therium conducted nine funding rounds for the deal, during which third-party investors repeatedly assessed its merits, said Elisabeth Mason, senior plaintiff counsel at 4-5 Gray’s Inn Square.

The case cost more than $20 million, including lawyers and researchers in eight jurisdictions, she said.

“Investors do not invest lightly in such matters,” she said.

Therium said it would continue to fund efforts to enforce the sentence. He declined to provide details.

The heirs gave notice of their intention to start arbitration in 2017 in Spain and initially sought compensation of $32.2 billion, according to the statement of award.

Malaysia’s first response came in 2019 when then-Attorney General Tommy Thomas offered to resume annual payments and pay 48,000 ringgit (US$10,772 at the current exchange rate) in arrears and debt. interest if the arbitration is discontinued.

Thomas said the demands were “absurd and ridiculous”, but made the offer after colleagues informed him that it was “perilous” to ignore arbitration because Malaysia’s foreign assets could be in danger, he wrote in a memoir last year.

The heirs rejected Thomas’s offer and the arbitration proceeded without Malaysia’s participation.

Malaysia successfully challenged Gonzalo Stampa’s appointment as sole arbitrator in a Spanish court last year.

Stampa argued in its statement of award that the courts lacked jurisdiction to arbitrate and referred the case to France for award – actions which Malaysia said were illegal.

Stampa is the subject of criminal proceedings in Spain following a complaint filed by Malaysia. He declined to comment.

By snubbing arbitration, Malaysia is merely arguing procedural validity rather than arguing against heirs’ claims, said N. Jansen Calamita, head of investment law and policy at the National University of Singapore. .

“It was a risky strategy and ultimately I don’t think it served them well,” he said.

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Know-how in the use of renewable energies for battery storage

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Union rural development and panchayati raj minister Giriraj Singh told a recent conference that India was increasing its reliance on renewable energy, with plans to supply 50% of needs the country’s electricity from renewable sources by 2030. In addition, with the Paris Agreement of 2015, countries around the world are placing renewable energy at the heart of their environmental strategies to achieve net zero emissions. 2050.

But accelerating the transition from fossil fuels to renewables requires a solid technological infrastructure. A major challenge in the face of this change is energy storage. As there is an increasing emphasis on low-emission sources of electricity generation, there is a growing need to balance fluctuations in demand and supply.

While pumped hydro storage has been at the forefront of energy storage worldwide, it is rapidly losing attention given its geographic and environmental constraints. This paved the way for new technologies such as battery storage, which have become an essential element to better integrate huge volumes of variable renewable energy.

So what is battery storage?

Battery storage, also known as battery energy storage systems (BESS), stores and releases energy from renewable sources, such as solar and wind. It allows consumers to consume a higher percentage of self-generated renewable energy. This minimizes the need to feed additional electricity back into the grid and helps balance generation variability.

A steady increase in economic viability has introduced new uses for battery storage. These systems can also support the integration of additional low-carbon energy, heat and transport technologies. Additionally, they help companies move away from fossil fuels and optimize their energy consumption in a more commercially feasible way.

Here are some other ways renewables are powering battery storage technologies:

Longer life cycle
The introduction of the lithium battery and continued improvement in battery technology has reduced energy density. This has improved its life cycle and revolutionized the renewable energy industry globally.

Permanent availability
Although solar, wind and tidal energy are clean and renewable, they all have one major drawback: they are not available all the time. For example, to generate solar power, you need to pass sunlight through the grid, which you can only do during the day. Battery storage reduces the reliability of the grid power system. It stores excess energy, allowing you to use it whenever you need it. On days when your system is not producing the required amount of power, you can draw it from the storage battery instead of the grid.

Less dependence on power grids
Battery storage saves solar power generation costs compared to utility companies. Indeed, you can install the storage system locally. This eliminates power losses due to distribution and maintenance and reduces power dependency of Discoms. Sharing power among multiple users via blockchain systems will further enhance self-reliability.

Integrates multiple variable resources
Energy storage integrates various resources and facilitates smooth delivery of variable resources like wind or solar, by storing excess energy. It also supports efficient power delivery for inflexible and basic resources. When there are rapid fluctuations in demand and flexibility is needed, battery storage can extract or inject energy to meet the required load. This makes it a crucial component when your core resources cannot react quickly.

Therefore, to conclude, solar power generation cost will be cheaper with battery storage system. It can even compete with established utility companies. Moreover, with a local storage system and zero power loss for distribution and maintenance, users can become self-sufficient in the future.

A renewable energy system with storage solutions will also allow users to share electricity among themselves and free themselves from dependence on distribution companies. Maintaining cables from hundreds of kilometers, controlling power distribution and sustaining losses will be challenges of the past.

Moreover, for the growing electric vehicle industry, this system is a must. Without solar storage solutions for charging stations, we will be entirely dependent on the depletion of fossil fuels, which will reduce long-term sustainability.



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The opinions expressed above are those of the author.



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Energy bills are high and not going down anytime soon. Here are ways to cut costs. | Siouxland Homes

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If you haven’t looked at your monthly utility bill lately, prepare for a shock when the cost of air conditioning comes due in the coming weeks. If the AC bill doesn’t raise your pulse, your heating bill next January might, assuming global energy markets remain unstable.

According to the most recent Consumer Price Index data, energy prices have risen 41.6% over the past year, the largest 12-month increase since April 1980. Energy led all other categories: the price of heating oil increased by 70%; piped gas is up 38%; and electricity is up 14%.

What can the average consumer do to control costs?

You can raise the thermostat in the summer (or lower it in the winter). Draw the shades on hot days. Buy a box fan to keep the air moving. Put on a sweater in winter. Convert to low power LED lighting.

The US Department of Energy’s Office of Energy Efficiency and Renewable Energy provides a step-by-step guide, including many suggested behavior changes that don’t require a financial commitment.

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Or you can take serious steps to improve your home’s energy efficiency. The cost of upgrades could pay dividends faster now that energy prices are higher.

Don’t wait for the weather to change

Energy experts say consumers were just beginning to get the idea of ​​upgrading their homes when big heating bills started rolling in last winter.

“But then the weather turns nice and we forget about energy efficiency until later,” said George Mullikin, program manager of CleaResult, which performs energy audits for Peco Energy customers. “So there’s definitely a seasonal aspect that drives him.”

Brett Baird, the office manager of Green Home Solutions, which does weatherization work in Pennsylvania and New Jersey under agreements with local utilities, said consumers are just beginning to educate themselves. “Generally, people tend to be a bit more worried as winter approaches, because that’s where the lion’s share of their costs are.”

Before starting an energy efficiency project, get a professional energy evaluation of your home. Most utilities will offer discounted evaluations from a certified auditor.

A comprehensive energy assessment will establish a plan of attack: it will recommend areas that need insulation, such as in the attic or crawl space, weather stripping and sealing possibilities, as well as lighting, appliances or the heating and ventilation systems that require it. repair or replacement.

Seal this thermal envelope

Experts who do weatherization work on behalf of utilities and state-funded programs, who must justify the work as cost-effective, say the best way to reduce energy costs is to reduce air leakage of a home’s interior by adding insulation and filling cracks – otherwise known as sealing a home’s thermal envelope.

“Air sealing is by far the most cost effective thing you can do in virtually any home, even more important than insulation,” said Steve Luxton, executive director of the Energy Coordinating Agency. (ECA), Philadelphia’s weatherproof nonprofit. residences for low-income clients in the region.

Insulation and weather stripping are super annoying stuff that doesn’t give you much bragging rights in the neighborhood like a new electric vehicle might. But there’s a quiet satisfaction in knowing that your crawl space is airtight with new foam insulation.

Buy high efficiency systems

If your current air conditioning or heating system is old and inefficient, it may also be worth replacing the system with newer, high-efficiency models.

“If you have a furnace that was built in the 70s or 80s, the efficiency will be in the 60% range,” Baird said. “We’re going to install a new one that’s about 96% to 98% efficient. So there are massive savings just on that.

Most utilities offer rebates to cover the cost of new energy-efficient appliances or heating systems. The money is often paid for by taxpayers, as part of government energy conservation mandates. Peco says its customers can get up to $435 in rebates for homes with central air conditioning and non-electric heating if they work through a participating contractor.

According to the New Jersey Board of Public Utilities, New Jersey Utilities offers 0% financing and incentives of up to $4,000 for whole-home energy upgrades performed by certified contractors. “New Jersey’s incentives are definitely more attractive,” said Baird, whose company works on both sides of the Delaware River. “They have a really phenomenal financing option.”

Low-income customers have an additional menu of options available through organizations such as the Energy Coordinating Agency. The US Department of Energy’s bloat assistance program, which targets low-income families, saves average households $372 a year in energy costs.

Pennsylvania this month authorized a one-time allocation of $125 million of unspent coronavirus money from the U.S. bailout for a new program called Whole-Home Repair, which provides grants of up to $50,000 to owners for projects such as weatherization and energy efficiency. The funding allows homeowners to repair leaky roofs, which must be repaired before contractors add new insulation to an attic. The main sponsor of the legislation was State Sen. Nikil Saval (D., Philadelphia).

ECA also recently received a one-time $150,000 grant for emergency replacement of water heaters, which are not usually covered by low-income programs. ECA administers the program through its helpline: 215-568-7190. The grant came from the Pennsylvania Department of Social Services at the request of State Sen. Sharif Street (D., Philadelphia).

The US Department of Energy also recently announced more than $40 million in federal funding to help provide home energy retrofits to low-income and underserved households.

Often the first thing consumers ask for is a window replacement. Everyone has heard the ads on the radio, promising big energy savings with new windows.

“If I ever have a boring day and want to fight back, all I have to say is this: Windows are the least cost-effective thing you can put in a house,” Luxton said. “And it’s guaranteed to get someone in the window industry up.”

Windows are an energy sieve, Luxton said. “The glass hasn’t changed, it might have a coating that slows the transmission of energy ever so slightly, but the energy is still moving through it,” he said. “So putting a new window really does nothing at all, or very little, anyway, compared to things that do a lot.”

Most energy efficiency programs funded by utilities or with public funds will not pay for window replacement, Mullikin said.

“If your windows are working well, not leaking too much, or can be sealed with inexpensive materials to make them less drafty, then that’s probably good enough. Replacing these windows can be very expensive and there is not much return on investment.

“There are all kinds of reasons to replace windows, but energy efficiency is probably not a good reason.

The US Department of Energy’s Office of Energy Efficiency and Renewable Energy provides a step-by-step guide to energy programs.

A good place to start is to contact your energy supplier, who will provide you with a range of free or discounted products and services. Most of these will help organize an energy assessment or audit, which will give the homeowner a cost-effective roadmap to reducing energy consumption.

©2022 The Philadelphia Inquirer. Visit inquirer.com. Distributed by Tribune Content Agency, LLC.

Oil prices end the week at multi-month lows on recession fears

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Oil pump cylinders are seen at the Vaca Muerta shale oil and gas field in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo

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Aug 5 (Reuters) – Oil prices rose on Friday, recouping some of this week’s losses on strong U.S. job growth, but ended the week at their lowest levels since February, rocked by fears that a recession could affect fuel demand.

Brent crude settled 80 cents at $94.92 a barrel, 11% below last Friday’s settlement. U.S. West Texas Intermediate crude gained 47 cents to $89.01, down 8% on the week.

U.S. job growth unexpectedly accelerated in July, with nonfarm payrolls rising by 528,000 jobs, the largest gain since February, the U.S. Labor Department reported. Read more

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“It’s strong economic data supporting the bullish oil market today,” said Bob Yawger, director of energy futures at Mizuho.

This week, oil traders worried about inflation, economic growth and demand, but signs of tight supply kept prices bottoming.

The number of oil rigs, an early indicator of future production, fell by seven to 598 in the week to August 5, the first weekly drop in 10 weeks, energy services company Baker Hughes said on Friday. Co BKR.O in its report followed closely. .

Recession concerns have intensified since the Bank of England warned on Thursday of a prolonged slowdown after raising interest rates to the highest since 1995. read more

“Obviously everyone is taking the threat of recession much more seriously as we still see a very tight market and producers unable to change that,” said Craig Erlam, senior market analyst at Oanda in London.

Supplies were still relatively tight, with rapid prices still higher than those in the coming months, a market structure known as carryover.

The OPEC+ producer group agreed this week to raise its oil production target by 100,000 barrels per day (bpd) in September, but it is one of the smallest increases since those quotas were introduced. in 1982, according to OPEC data. Read more

Supply problems are expected to increase as winter approaches, with European Union sanctions banning maritime imports of Russian crude and petroleum products due to come into effect on December 5.

“With the EU halting Russian imports by sea, the key question is whether Middle Eastern producers will re-route their barrels to Europe to fill the void,” RBC analyst Michael Tran said. .

“How this Russian policy of oil sanctions plays out will be one of the most important issues to watch for the rest of the year.”

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Reporting by Noah Browning; edited by David Evans, Kirsten Donovan and David Gregorio

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The New York State Common Retirement Fund sells 3,604 shares of Targa Resources Corp. (NYSE: TRGP)

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The New York State Common Retirement Fund has reduced its stake in shares of Targa Resources Corp. (NYSE: TRGPGet a rating) by 1.5% in the first quarter, according to the company in its most recent filing with the SEC. The company held 235,578 shares of the pipeline company after selling 3,604 shares during the quarter. The New York State Common Retirement Fund held approximately 0.10% of Targa Resources worth $17,779,000 when it last filed with the SEC.

A number of other institutional investors also changed their positions in TRGP. BlackRock Inc. increased its holdings of Targa Resources shares by 7.3% in the fourth quarter. BlackRock Inc. now owns 21,959,815 shares of the pipeline company valued at $1,147,183,000 after purchasing an additional 1,499,300 shares in the last quarter. First Trust Advisors LP increased its holdings of Targa Resources shares by 324.0% in the fourth quarter. First Trust Advisors LP now owns 1,205,000 shares of the pipeline company valued at $62,949,000 after buying 920,818 additional shares in the last quarter. Russell Investments Group Ltd. increased its holdings of Targa Resources shares by 114.8% in the first quarter. Russell Investments Group Ltd. now owns 1,179,991 shares of the pipeline company valued at $89,054,000 after purchasing an additional 630,766 shares in the last quarter. Point72 Asset Management LP increased its holdings of Targa Resources shares by 87.3% in the fourth quarter. Point72 Asset Management LP now owns 1,343,363 shares of the pipeline company valued at $70,177,000 after purchasing an additional 625,975 shares in the last quarter. Finally, Fractal Investments LLC bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $22,406,000. 91.93% of the shares are held by institutional investors.

Targa Resource Price Performance

Targa Resources stock opened at $63.94 on Friday. The company has a market capitalization of $14.58 billion, a P/E ratio of -110.24 and a beta of 2.46. Targa Resources Corp. has a 1-year low of $39.06 and a 1-year high of $81.50. The company has a 50-day moving average of $65.15 and a 200-day moving average of $67.48. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt ratio of 1.73.

Targa Resources (NYSE: TRGPGet a rating) last reported results on Thursday, May 5. The pipeline company reported earnings per share (EPS) of $0.06 for the quarter, missing the consensus estimate of $0.89 per ($0.83). The company posted revenue of $4.96 billion for the quarter, versus analyst estimates of $6.07 billion. Targa Resources posted a positive return on equity of 8.24% and a negative net margin of 0.22%. In the same quarter a year earlier, the company posted earnings per share of $0.53. On average, stock analysts expect Targa Resources Corp. will post an EPS of 3.24 for the current year.

Targa Resources announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15. Shareholders of record on Friday, July 29 will receive a dividend of $0.35 per share. The ex-date of this dividend is Thursday, July 28. This represents an annualized dividend of $1.40 and a dividend yield of 2.19%. Targa Resources payout ratio is currently -241.38%.

Insider Trading at Targa Resources

In related news, the director Paul W.Chung sold 3,568 shares of the company in a transaction that took place on Monday, May 16. The stock was sold at an average price of $73.34, for a total value of $261,677.12. Following completion of the transaction, the administrator now directly owns 240,641 shares of the company, valued at approximately $17,648,610.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In related news, Insider D. Scott Pryor sold 20,000 shares of the company in a transaction that took place on Wednesday, May 18. The stock was sold at an average price of $71.33, for a total value of $1,426,600.00. Following the completion of the transaction, the insider now directly owns 81,233 shares of the company, valued at approximately $5,794,349.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Paul W. Chung sold 3,568 shares of the company in a transaction that took place on Monday, May 16. The shares were sold at an average price of $73.34, for a total value of $261,677.12. Following completion of the transaction, the director now owns 240,641 shares of the company, valued at $17,648,610.94. Disclosure of this sale can be found here. Company insiders own 1.10% of the company’s shares.

A Wall Street analyst gives his opinion

A number of research companies have recently published reports on the TRGP. US Capital Advisors reaffirmed a “buy” rating on Targa Resources shares in a Monday, July 25 report. Wells Fargo & Company lowered its price target on Targa Resources to $83.00 and set an “overweight” rating for the company in a Friday, May 20 report. Morgan Stanley raised its price target on Targa Resources from $103.00 to $105.00 and gave the stock an “overweight” rating in a Wednesday, July 20 report. Barclays lowered its price target on Targa Resources from $92.00 to $87.00 and set an “overweight” rating for the company in a Wednesday July 20 report. Finally, Royal Bank of Canada raised its price target on Targa Resources from $90.00 to $100.00 and gave the stock an “outperform” rating in a Tuesday, July 12 report. One investment analyst gave the stock a hold rating, ten gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $81.36.

Targa Resource Profile

(Get a rating)

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires and develops a portfolio of midstream energy assets in North America. The Company operates in two segments, Collection and Processing, and Logistics and Transportation. It is engaged in the gathering, compression, treatment, processing, transportation and sale of natural gas; storage, fractionation, processing, transportation and sale of natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; and the gathering, storage, terminal, purchase and sale of crude oil.

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Institutional ownership by quarter for Targa Resources (NYSE:TRGP)



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Seaport Res Ptn weighs on Diamondback Energy, Inc.’s third quarter 2022 results (NASDAQ:FANG)

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Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Analysts at Seaport Res Ptn dropped their third quarter 2022 earnings estimates for Diamondback Energy in a report released Monday, August 1. Seaport Res Ptn analyst N. Pope now expects the oil and gas company to post earnings of $7.26 per share for the quarter, down from its previous forecast of $7.33. The consensus estimate for Diamondback Energy’s current annual earnings is $25.73 per share. Seaport Res Ptn also released Diamondback Energy earnings estimates for the fourth quarter of 2022 at $6.37 EPS.

Diamondback Energy (NASDAQ:FANG – Get Rating) last reported quarterly results on Monday, August 1. The oil and gas company reported earnings per share (EPS) of $7.07 for the quarter, beating the consensus estimate of $6.58 by $0.49. Diamondback Energy had a net margin of 42.23% and a return on equity of 25.12%. The company posted revenue of $2.77 billion for the quarter, versus $2.44 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $2.40. Diamondback Energy’s quarterly revenue increased 64.7% year over year.

Several other stock analysts have also recently released reports on the stock. KeyCorp raised its price target on Diamondback Energy shares from $152.00 to $164.00 and gave the company an “overweight” rating in a Friday, April 8 research report. Truist Financial raised its price target on shares of Diamondback Energy from $185.00 to $203.00 in a Tuesday, July 19 report. Susquehanna raised its price target on Diamondback Energy shares from $152.00 to $167.00 and gave the stock a “positive” rating in a Monday, April 25 report. Piper Sandler cut its price target on Diamondback Energy shares from $196.00 to $191.00 and set an “overweight” rating on the stock in a Friday July 22 report. Finally, MKM Partners restated a “buy” rating and issued a $155.00 price target on Diamondback Energy shares in a Wednesday, July 20 report. Three investment analysts gave the stock a hold rating, fourteen issued a buy rating and one issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a “Moderate Buy” consensus rating and an average price target of $169.42.

Diamondback Energy Price Performance

NASDAQ FANG shares opened at $116.45 on Thursday. Diamondback Energy has a 1-year low of $65.93 and a 1-year high of $162.24. The company has a debt ratio of 0.38, a current ratio of 0.73 and a quick ratio of 0.69. The company’s 50-day moving average is $129.17 and its 200-day moving average is $131.58. The stock has a market capitalization of $20.67 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.23 and a beta of 2.12.

Diamondback Energy increases its dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23. Investors of record on Tuesday, August 16 will receive a dividend of $3.05 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, August 15. This represents a dividend of $12.20 on an annualized basis and a yield of 10.48%. Diamondback Energy’s dividend payout ratio is 13.09%.

Diamondback Energy announced that its board of directors launched a stock repurchase program on Monday, August 1 that sees the company repurchase $4.00 billion worth of stock. This repurchase authorization allows the oil and gas company to repurchase up to 17.9% of its shares through open market purchases. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,500 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $152.22, for a total transaction of $380,550.00. Following the transaction, the chief accounting officer now owns 57,308 shares of the company, valued at $8,723,423.76. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In related news, CAO Teresa L. Dick sold 2,500 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $152.22, for a total transaction of $380,550.00. Following the transaction, the chief accounting officer now owns 57,308 shares of the company, valued at $8,723,423.76. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, Hof Chief Financial Officer Matthew Kaes Van’t sold 6,000 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the transaction, the CFO now owns 67,334 shares of the company, valued at approximately $10,100,100. The disclosure of this sale can be found here. Insiders sold a total of 44,500 shares of the company worth $6,740,850 during the last quarter. Insiders of the company own 0.42% of the shares of the company.

Institutional entries and exits

Institutional investors have recently increased or reduced their stake in the company. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and gas company worth $31,000 after acquiring 176 additional shares during the period. Cambridge Trust Co. raised its position in Diamondback Energy by 1,991.7% in the first quarter. Cambridge Trust Co. now owns 251 shares of the oil and gas company worth $34,000 after acquiring 239 additional shares during the period. MCF Advisors LLC bought a new position in Diamondback Energy in the first quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC bought a new position in Diamondback Energy in the first quarter worth around $41,000. Finally, Global Retirement Partners LLC increased its position in Diamondback Energy by 51.8% in the second quarter. Global Retirement Partners LLC now owns 334 shares of the oil and gas company worth $40,000 after acquiring 114 additional shares during the period. 89.97% of the shares are currently held by institutional investors.

Diamondback Energy Company Profile

(Get a rating)

Diamondback Energy, Inc, an independent oil and gas company, is focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of western Texas. It covers the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, which are part of the Permian Basin in western Texas and New Mexico.

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Earnings history and estimates for Diamondback Energy (NASDAQ:FANG)



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Nearly $1 million in DEP grants for ed. projects | New

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HARRISBURG – The Pennsylvania Department of Environmental Protection announced that $900,000 in grants are available for environmental education projects.

Environmental education grants are available for schools, colleges, community and environmental nonprofit organizations, county conservation districts, and businesses.

American Electric Power: a solid stock at an attractive valuation

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SimonSkafar

Investment thesis

American Electric Power Company, Inc. (NASDAQ: AEP) is the largest electric utility company in the United States, headquartered in Columbus, Ohio. In this thesis, I will mainly analyze AEP’s Q2 2022 results and its future growth drivers. I will also analyze the risks run by the company and its valuation at current price levels. I believe AEP is a growing company with a stable dividend yield. I am giving AEP a buy rating after considering all of these factors.

Company presentation

AEP is an electric utility company providing electricity in 11 states, serving more than 5 million customers. It is one of the largest electricity supply companies in the United States. The company generates, transmits and distributes electricity to direct consumers as well as to other electricity companies. It has approximately 224,000 circuit miles of distribution lines to supply electricity to individual households and commercial properties. The company has nearly 22,500 MW of regulated power generation capacity. It generates electricity through various methods, some of which are environmentally friendly sources. AEP primarily generates electricity through nuclear, hydro, solar, wind, coal and natural gas sources and methods. The company’s great advantage in the market is the vertical integration of its generation, transmission and distribution facilities. This integration ensures that activities run smoothly with limited dependence on external sources.

Q2 2022 results

AEP reported excellent results for the second quarter of 2022, beating market revenue estimates by 16.5%. Reported EPS was in line with market expectations. The company also reaffirmed FY22 revenue and EPS guidance. AEP also plans to grow its renewable energy portfolio to 50% by 2030 and is in talks to acquire several renewable energy assets for reach this goal. It has seen strong demand and expects steady demand throughout FY22.

American Electric Power income statement

DRY: 10Q AEP

AEP reported revenue from vertically integrated utilities of $2.6 billion, a 16.8% increase over second-quarter 2021 revenue of $2.2 billion. According to my analysis, the increase in electricity prices, complemented by increased demand, was the main driver of income. Revenue from transmission and distribution utilities was $1.3 billion, a 19% increase from $1.09 billion in the same quarter a year earlier. Rising prices were the main contributing factor to the increase in revenue. The company reported total revenue of $4.6 billion, an increase of 21% compared to $3.8 billion in the corresponding quarter of the previous fiscal year. I believe the company will maintain revenue in FY22 and FY23 by increasing production capacity and expanding into other states. The company reported total expenses of $3.6 billion, up from $3 billion in the second quarter of 2021, an increase of 20%. According to my analysis, the increase in raw material prices and the cost of labor were the main factors for the increase in expenses. It reported non-GAAP net income of $617.7 million, compared to $589.5 million in the second quarter of 2021, an increase of 5%. The increase could be even higher if the one-time equity loss of $165 million from unconsolidated subsidiaries is not taken into account. Non-GAAP EPS was reported at $1.20. The company also announced a dividend of $0.78 payable on September 9, 2022. This gives us an annualized dividend yield of 3.11% at the current price level.

Overall, the company posted strong results in the second quarter of 2022 with considerable improvement across all segments. The company reaffirmed its non-GAAP EPS estimates for FY22 in the range of $4.87 to $5.07. I think the company’s EPS estimates are conservative and my estimate is that FY22 EPS could be between $5.10 and $5.25. The company is constantly trying to expand its business and increase its renewable energy portfolio, which I believe will be crucial for the growth of the company in the years to come.

Nicholas K. Akins, AEP President, President and CEO, said,

We are making significant progress on our plan to responsibly transform our generation fleet as we strive to add approximately 16,000 megawatts of regulated renewable generation by 2030 and achieve our goal of net zero emissions by 2050 Appalachian Power recently received approval to own 409 megawatts of wind and solar, and SWEPCO filed regulatory approval in May to purchase three renewable energy projects totaling 999 megawatts. We are currently researching new wind and solar proposals in several states and continue to add generation in accordance with our integrated resource plans to better meet the future energy needs of our customers. We are also making substantial progress on our planned investments of nearly $25 billion in transmission and distribution from 2022 to 2026, as we develop a modern, reliable and resilient energy network that will benefit our customers. Our Transmission Holding Co.’s net plant increased by $1.2 billion, or 10.5%, since June 2021.

Key risk factor

Changes in technology and regulatory policies: The majority of AEP’s electricity is generated at large central facilities. Its transmission and distribution infrastructure is distributed to customers, usually under an exclusive franchise. Compared to dispersed generation using new or existing technologies and technical advances such as fuel cells and microturbines, this strategy achieves economies of scale and generally reduces costs. Other technologies, such as light-emitting diodes (LEDs), make electricity more efficient, reducing demand. Spending on emerging technologies is falling to a point where it is competitive with some power generation and distribution plants due to changes in regulatory rules and advances in energy storage technologies like batteries, wind turbines and cells photovoltaic solar panels. These advances may threaten AEP’s ability to compete to maintain reasonably affordable and reliable operations, fair regulatory frameworks, and cost-effective customer programs and services. Additionally, if alternative generation resources are introduced into the available generation supply and mandated by regulation or legislation may be commercially viable, this may displace units of generation with higher marginal cost, lowering the price at which market players sell their electricity. This is why I believe that technological advancements and regulatory policies can be a major challenge for the future growth of the company.

Evaluation

The company is currently trading at $98.46 with a market capitalization of $50.91 billion. At the current valuation, the company is trading at a PE multiple of 20.77x. The company posted strong quarterly results and is seeing increased demand. After taking these two factors into account, I estimated EPS at $5.25 for FY22, which gives us the main PE multiple of 18.75x. Due to growing demand, I believe the company could be trading at a higher PE multiple of 24.5x, giving the target price of $128.6, which is a 30.6% upside from at the current level. The company has a dividend yield of 3.11% at current price levels, which is another attractive factor for investors looking for a safe and stable dividend yield. According to Seeking Alpha’s dividend rating, the company’s dividend payout is safe, growing, and consistent as it has A- safe, B+ growing, and A+ consistent.

Conclusion

AEP released strong second quarter 2022 results and reaffirmed its guidance for fiscal year 2022. I believe the company will beat market estimates in the coming quarters with increased demand and rising power prices . The company is currently trading at an attractive P/E multiple of 18.75x, which may be an ideal entry point for investors. The company also boasts an attractive annualized dividend yield of 3.11%. After considering all these factors, I give AEP a buy rating.

Climate Adaptive Infrastructure and Meridian Clean Energy Announce Strategic Partnership | national company

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SAN FRANCISCO–(BUSINESS WIRE)–August 2, 2022–

Climate Adaptive Infrastructure, LLC (“CAI”), an investment company financing low-carbon energy, water and transportation infrastructure, and Meridian Clean Energy (“Meridian”), owner and developer of an energy project enabling a future carbon-free energy system, today announced their strategic partnership. Their first investment is the acquisition of a 25% interest in the Sentinel Energy Center, an 850 MW peak power plant in Riverside, California.

Sentinel Energy Center operates eight large turbines, creating one of the most efficient and flexible peaking power plants in Southern California. Sentinel’s rapid start-up capability allows it to efficiently bridge the peaks and troughs created by the 11 gigawatts of intermittent wind and solar resources surrounding the plant and serving the greater Los Angeles Basin.

“We are excited to initiate our strategic partnership with Meridian Clean Energy and acquire a significant stake in Sentinel, a key to the ongoing decarbonization of the Southern California energy market,” said Bill Green, Founder and managing partner of CAI. “Together with the Meridian team and our Sentinel partners, we plan to demonstrate how natural gas-dependent peaks can be decarbonized, while contributing to the energy security of large, complex utility networks. We look forward to working with Meridian to replicate this program in other markets, driven by utility demand for decarbonized grid stabilization capacity.

“As California pursues its decarbonization goals, Sentinel works to stabilize the increasingly renewable-powered grid. We are excited to partner with CAI on this asset, which is critical to the continued deployment of the wind and solar on the CAISO system and will be a key asset in decarbonizing the grid,” said John Woolard, CEO of Meridian Clean Energy.

About Climate Adaptive Infrastructure

Climate Adaptive Infrastructure, LLC (“CAI”) is an infrastructure investment firm specializing in low-carbon real estate assets in the energy, water and transportation sectors. CAI finances large-scale investments in low-carbon infrastructure that can withstand the structural risks and economic pressures of the climate crisis and that can provide CAI and its financial partners with a viable hedge against climate losses.

About Meridian Clean Energy

Meridian Clean Energy is focused on owning and developing power generation and storage assets with the flexibility and reliability to enable a future carbon-free energy system. The Meridian team brings deep experience in all types of power generation and integrating the latest technologies at utility scale.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220802005432/en/

CONTACT: For Climate-Smart Infrastructure

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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

KEYWORD INDUSTRY: FINANCE ENERGY ALTERNATIVE ENERGY PROFESSIONAL SERVICES PUBLIC SERVICES

SOURCE: Climate Adaptive Infrastructure, LLC

Copyright BusinessWire 2022.

PUBLISHED: 02/08/2022 09:00/DISC: 02/08/2022 09:02

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Copyright BusinessWire 2022.

CUC delays proposed 5.4% base rate hike

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(CNS): There will be no increase in the base rate that the Caribbean Utilities Company charges customers this summer, as Grand Cayman’s electric utility delayed its annual increase until January. CUC said it made the decision not to increase the base rate, which was expected to be around 5.4%, due to “increasing financial challenges some customers are facing due to fuel price costs and ‘other goods and services’. . The CUC will also freeze disconnection fees and finance charges for bills issued from August to October.

Under the CUC license, the company can increase the rate it charges each year based on a formula tied to inflation or the price level index. This is a weighted average of 60% of the change in the Cayman Islands Consumer Price Index and 40% of the change in the US CPI. The CUC said that for 2022, the calculation led to a 5.4% increase, which would have come into effect on June 1, assuming the Office of Utilities Regulation and Competition (OfReg) had authorized this. substantial increase.

However, CUC said it had offered OfReg to postpone the rate increase and related revenue recovery until January, and OfReg agreed. CUC President and CEO Richard Hew said it would ease the burden on residents and businesses at a time when they need it most.

“CUC is committed to providing continued support to its customers and it was important that we reached an agreement with OfReg to defer rate increases relating to the energy load component of customer bills until 2023. CUC is well aware that if the increase was implemented in accordance with our licenses, an increase in base rates in June 2022 could have been difficult for many of our customers to bear,” he said. “The ability to recoup revenue in the future is necessary to maintain this financial stability and to meet society’s ongoing obligations to invest in infrastructure and provide safe, reliable and sustainable electricity service.

CUC revealed its unaudited financial accounts for the first six months of 2022 last week, which showed an increase in revenue so far this year compared to 2021 of almost $2 million. Given the volatility of fuel costs, customers paid an average of 7 cents more per kWh due to the fuel factor compared to last year, and even higher bills are expected during the hot summer months .

While the government is subsidizing fuel costs on residential bills in July, August and September for homes using less than 2,000kWh per month, customers will have to pay the full fuel factor in October and can expect a new significant increase in bills in the new year.

CUC said it would help customers lower their bills through energy-saving programs. The company also foresees additional long-term relief to customers with the implementation of large-scale renewables on its grid in the near future.

Meanwhile, an outage on Sunday morning knocked out power to around 11,000 homes. The CUC has yet to state the cause, but power was restored to everyone Sunday afternoon.

See the full CUC press release below:


Ameresco: Overview of Second Quarter Results

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FRAMINGHAM, Mass. (AP) _ Ameresco (AMRC) reported second-quarter profit of $32.2 million on Monday.

The Framingham, Mass.-based company said it had net earnings of 61 cents per share. Earnings, adjusted for one-time costs, were 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of 45 cents per share.

The energy services company posted revenue of $577.4 million during the period, also beating Street’s forecast. Seven analysts polled by Zacks expected $533.4 million.

Ameresco expects annual earnings of between $1.85 and $1.95 per share, with revenue of between $1.83 billion and $1.87 billion.

Shares of Ameresco are down 29% year-to-date. In the final minutes of trading on Monday, shares hit $57.81, a 16% drop in the past 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMRC at https://www.zacks.com/ap/AMRC

EXCLUSIVE Luxembourg banks have been told to freeze Ecuadorian assets in Perenco dispute, documents show

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LONDON, Aug 1 (Reuters) – A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador in accounts in the country following a dispute over a $391 million settlement fee that , according to the Anglo-French oil company Perenco, remains unpaid, according to a document seen by the Reuters broadcast.

The Ecuadorian government pledged in June 2021 to honor the debt granted to Perenco by the World Bank’s International Center for Settlement of Investment Disputes (ICSID), which ruled that Ecuador had illegally terminated a production sharing agreement with the company. The country’s solicitor general said last year that due to financial difficulties, the government had contacted Perenco to negotiate a payment plan. Read more

“To date, more than a year later, Perenco has still not received a single dollar from Ecuador,” Perenco said in a statement on Monday, adding that it will “take steps to enforce its rights payment against Ecuador in Luxembourg and other jurisdictions”.

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Ecuador’s Ministry of Economy and Ministry of Energy were not immediately available for comment outside of normal business hours. Global law firm Hogan Lovells, Ecuador’s legal counsel on US law, declined to comment.

A spokesman for the London office of Cleary Gottlieb Steen & Hamilton LLP’s, the dealer manager’s legal advisers on Ecuadorian Eurobonds, did not immediately respond to a request for comment.

A document seen by Reuters shows that a Luxembourg bailiff, Pierre Biel & Geoffrey Galle, on July 28 ordered 122 banking entities operating in Luxembourg to freeze the assets of accounts used by Ecuador on behalf of Perenco. An employee of the bailiff declined to comment when contacted by Reuters because he is not authorized to speak to parties not involved in the case.

Reuters could not immediately establish what assets Ecuador held in Luxembourg accounts. Banks named included Deutsche Bank, Credit Suisse and HSBC.

Credit Suisse and Deutsche Bank declined to comment, while HSBC did not immediately respond to requests for comment.

Two years ago, the Latin American country defaulted on $17.4 billion in external debt as the country collapsed under one of the region’s worst coronavirus outbreaks after years of economic stagnation. .

As part of the debt restructuring that followed, Ecuador sold new bonds maturing in 2030, 2035 and 2040 which are listed on the Luxembourg Stock Exchange.

Many of these bonds had interest payments due July 31.

It was not immediately clear what impact a freeze might have on Ecuador’s ability to make those payments. Ecuadorian international bondholders include major asset managers such as BlackRock, PIMCO and JPMorgan, according to data available on EMAXX, which provides details of fund holdings based on their public disclosures. PIMCO declined to comment, while BlackRock and JPMorgan were not immediately available for comment.

The case that led to the ICSID decision stems from a 2007 decree issued by then-President Rafael Correa that boosted Ecuadorian state revenue on sales of oil produced by private companies above a certain level. Read more

Perenco sued Ecuador in 2008 and was eventually awarded $412 million in May last year. Perenco is entitled to $391 million after taking into account the compensation it was ordered to pay Ecuador for environmental damage caused in areas where it operated in Blocks 7 and 21.

President Guillermo Lasso, a former conservative banker who took office in May 2021, has promised to revive Ecuador’s economy and attract investment, especially in the oil and mining sectors. Read more

“Perenco remains hopeful that the Ecuadorian government will finally honor its international obligations, demonstrate its commitment to the rule of law and deliver on its promises to foreign investors, quickly meeting the price without further delay,” the company said in its statement. communicated.

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Reporting by Rowena Edwards and Karin Strohecker in London; Additional reporting by Alexandra Valencia in Quito; Editing by Elisa Martinuzzi, Daniel Wallis and Louise Heavens

Our standards: The Thomson Reuters Trust Principles.

Research analysts release earnings forecast for Innergex Renewable Energy Inc. for the second quarter of 2022 (TSE:INE)

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Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – National Bank Financial cut its Q2 2022 earnings estimates for Innergex Renewable Energy shares in a research report delivered to clients and investors on Wednesday, July 27. National Bank Financial analyst R. Merer now expects the company to post earnings of $0.07 per share for the quarter, down from its previous forecast of $0.10. The consensus estimate of Innergex Renewable Energy’s current annual earnings is $0.44 per share. National Bank Financial also released earnings estimates for Innergex Renewable Energy’s fiscal year 2023 at $0.44 per share.

Innergex Renewable Energy (TSE:INE – Get Rating) last announced its results on Tuesday, May 10. The company reported earnings per share C ($0.02) for the quarter, beating the consensus estimate of C ($0.04) by C$0.02. The company posted revenue of C$188.72 million for the quarter, compared to C$181.30 million expected by analysts.

Several other research analysts have also recently published reports on the INE. TD Securities upgraded shares of Innergex Renewable Energy from a “hold” rating to a “buy” rating and lowered its target price for the company from C$21.00 to C$19.00 in a report from the Thursday May 12. Raymond James set a price target of C$24.00 on Innergex Renewable Energy shares and gave the stock an “outperform” rating in a Thursday, May 12 research note. CIBC raised its price target on Innergex Renewable Energy shares from C$21.00 to C$22.00 in a Thursday, July 21 research note. CSFB raised the target price of its Innergex Renewable Energy shares from C$24.00 to C$25.00 in a Wednesday, April 20 research note. Finally, Credit Suisse Group reduced its price target on Innergex Renewable Energy shares from CA$25.00 to CA$24.00 and set an “outperform” rating for the company in a research note from the Monday July 25. Two investment analysts gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.11.

Innergex’s renewable energy exchanges increase by 1.5%

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Shares of TSE:INE opened at C$19.24 on Monday. Innergex Renewable Energy has a 52 week low of C$15.89 and a 52 week high of C$22.03. The company’s 50-day moving average is C$17.86 and its two-hundred-day moving average is C$18.10. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt ratio of 309.01. The company has a market capitalization of C$3.93 billion and a PE ratio of -202.53.

Insider activity

In addition, director Richard Gagnon purchased 1,520 shares in a transaction that took place on Thursday, May 12. The shares were acquired at an average price of CA$16.46 per share, with a total value of CA$25,019.20. Following the purchase, the director now owns 5,170 shares of the company, valued at approximately C$85,098.20.

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 29. This represents an annualized dividend of $0.72 and a yield of 3.74%. Innergex Renewable Energy’s payout ratio is currently -757.89%.

Innergex Renewable Energy Company Profile

(Get a rating)

Innergex Renewable Energy Inc. operates as an independent renewable power producer in Canada, the United States, France and Chile. It acquires, owns, develops and operates hydroelectric power stations, wind and solar farms as well as energy storage facilities. The Company operates through three segments: hydroelectric power generation, wind power generation and solar power generation.

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History and earnings estimates of Innergex Renewable Energy (TSE:INE)

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Democrats need more Joe Manchins

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Comment

In the end, after a lot of drama, Senator Joe Manchin did the right thing. And by signing a legislative deal that will cut the deficit, reduce drug costs and invest in carbon-free home energy, he has made many progressives very happy.

What progressives need to do now is reconsider their crass attitude not only toward Mandchin, but also toward Mandchinism. Democrats would benefit from more Mandchin-like candidates running in other states.

West Virginia is not just a conservative state; it is practically the most conservative state in the country. President Joe Biden won 29.7% of the vote there in 2020, his worst performance in any state except Wyoming. If a Democrat can win in West Virginia based on a strong local brand and being more conservative than Biden, then why not in Kansas, Montana, Missouri or Indiana, where Biden got 41% of the vote? Why not Ohio or Iowa (45%), Texas (46%), Florida (48%) or North Carolina (49%)?

Democrats, of course, are trying to win in those last five states. But candidates such as Tim Ryan and Val Demings are running as mostly traditional Biden Democrats (in Ohio and Florida, respectively). That’s fine with me — I like the chair. And I love Ryan and Demings. They’re both charismatic, they run smart campaigns, and I expect them to top Biden’s local approval rating somewhat. But they will probably lose again.

It would be interesting to see more candidates in red states define themselves as “Joe Manchin Democrats,” drawing fundamental distinctions between their views and those of Biden.

Before last week, many liberals were thinking that Manchin is a crypto-Republican and anyone more conservative than Biden must be Mitt Romney’s second coming. But this is nonsense. Progressives, by their own estimation, have a truly radical view of the transformation of American society. They want to remake the American energy system. They want a European welfare state. They want a unionized economy. They want to subvert American gun culture.

They want a lot of things! And there’s nothing wrong with having big ambitions. But when your ambitions are huge, that means there’s plenty of opportunity for people to have smaller ambitions without being doctrinaire conservatives.

And that’s Joe Manchin. He acknowledges the science of climate change and believes the wealthy should pay their fair share of taxes. But he doesn’t really buy into the idea that there should be a radical transformation of American society. It’s a perfectly reasonable worldview, and the presence of members of Congress who favor some changes helps those who favor many changes.

The biggest problem with Manchin is that there is only one. So Democrats have no margin for error on anything.

An equally conservative senator from Kansas wouldn’t have Manchin’s connection to the coal industry and would likely be more enthusiastic about wind power. A Florida Manchin would likely be more forceful in his defense of abortion rights. A North Carolinian Manchin would be a more zealous anti-racist.

The point here should be obvious: A senator who agrees with progressives on a few things is far better than a senator who disagrees with them on nothing. But that wisdom was lost to the wind. Democrats running in red states happily distance themselves from “the squad” and blatantly toxic ideas like defunding the police. But the red states are places that by definition rejected not only Elizabeth Warren and Bernie Sanders but also Joe Biden. To get the votes of people who have backed Donald Trump twice, Democratic candidates have to agree with Trump on certain things.

This is anathema to most progressive intellectuals and activists, of course. Many of them view Biden himself as a painfully moderate alternative to their favorite politicians.

But that’s why the left should pay more attention to the genuinely enthusiastic reaction from its side to the announcement of the Inflation Reduction Act. This bill is tiny compared to the grandiose ambitions of progressives. At the same time, it’s a huge improvement over the status quo. Achieving it would count as a victory rationally and feel for it emotionally.

And it’s Manchin’s presence that makes it all possible. His presence in the caucus should be celebrated rather than tolerated, and recruiting efforts in tough races should deliberately focus on building a team of manchinist candidates who put a clear distance between them and mainstream Democrats while adhering to certain progressive positions.

That would mean returning to something more like the pre-2014 era, when the Democratic caucus had separate conservative and progressive wings, with most members somewhere in between. More recently, the progressive bloc has grown and the conservative wing has shrunk.

It gave progressive egos a boost. But as last week showed, at the end of the day, even diehard ideologues would rather get things done than do nothing. And that means more Manchins – and more Manchinism.

More from Bloomberg Opinion:

• Manchin U-turn gives cleantech a boost: Liam Denning

• Surprise Manchin-Schumer deal would be a huge win: publishers

• Democrats should blame themselves, not Manchin: Ramesh Ponnuru

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

Matthew Yglesias is a columnist for Bloomberg Opinion. Co-founder and former columnist of Vox, he writes the Slow Boring blog and newsletter. He is the author, most recently, of “One Billion Americans”.

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

Europe advocates energy conservation amid gas shortage

(MENAFN) Following the economic sanctions imposed on Moscow following the conflict between Russia and Ukraine, the European Union (EU) puts energy efficiency at the forefront of efforts to reduce gas demand.

The move was made in response to energy giant Gazprom announcing on Monday that it would cut gas flow through Nord Stream 1, one of the main pipelines for bringing Russian gas to Russia. Europe.

The restricted gas flow on the pipeline, essential for transiting Russian gas to Europe via Germany, was caused, the company says, by the maintenance of a major Siemens turbine engine at the Portovaya compressor station .

The company announced that due to turbine problems, exports through the pipeline which carries 167 million cubic meters of gas per day will be reduced from the range of 40% to 20% the previous week.

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In Fredericksburg, Quarles Sells Fuel Service Assets to Arko | State and Area News

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BY SCOTT SHENK THE FREE LANCE–STAR

Quarles Petroleum of Fredericksburg has sold most of its assets to one of the nation’s largest convenience stores and fuel wholesalers.

Arko Corp., a Fortune 500 convenience store holding company based in Henrico, purchased Quarles’ assets for $170 million, according to an ARKO statement.

Quarles was founded by Douglas Quarles Sr. and his son, Douglas Quarles Jr., in Fredericksburg as a one-truck company in 1940. The company has become a supplier to more than 80,000 residential, fleet customers and commercial fuel in Virginia, North Carolina, Maryland, Pennsylvania and Washington.

The ARKO acquisition follows another sale of Quarles assets in June. According to Convenience Store News, Quarles has sold its propane and refined products distribution business to Superior Plus Energy Services.

ARKO takes over Quarles fuel card program, plus unstaffed sites in Virginia, North Carolina, Maryland, Pennsylvania and Washington, D.C.

People also read…

According to ARKO, the company has acquired “121 exclusive Quarles-branded card lock sites, management of 64 third-party card lock sites for fleet fueling operations, 46 independent dealer locations, including select dealer sites tenants, and a small transport fleet.

ARKO plans to retain approximately 100 employees from Quarles.

ARKO was founded in 2003 with 169 stores and has since grown to nearly 1,400 stores and over 1,600 wholesale locations in 33 states. ARKO, which joined the Fortune 500 list in May, has made 21 acquisitions since 2013 as part of its aggressive growth strategy, the company said in a press release.

ARKO President and CEO Arie Kotler said the company plans to continue to pursue acquisitions like Quarles.

SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of VAALCO Energy, Inc. (NYSE: EGY) … | New

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PHILADELPHIA, July 30. 10, 2022 (GLOBE NEWSWIRE) — Investor protection law firm Kaskela Law LLC is investigating possible legal claims on behalf of investors in VAALCO Energy, Inc. (NYSE:EGY) (“VAALCO”) regarding the transaction recently announced by the Company with TransGlobe Energy Corporation (“TransGlobe”).

On July 14, 2022, VAALCO announced that it had entered into an agreement to acquire TransGlobe in an all-stock transaction. In connection with the proposed transaction, CareMax has indicated that it plans to issue 49.3 million Class A common stock of CareMax to shareholders of TransGlobe who, therefore, are expected to hold more than 45% of the combined company. Following the announcement of this transaction, VAALCO shares fell $1.03 per share, or more than 16.5% in value.

The investigation aims to determine whether members of VAALCO’s board of directors violated securities laws or breached their fiduciary duties in connection with the proposed transaction, and whether the company properly disclosed all conflicts of potential interests to its shareholders.

VAALCOsshareholders wishing to protect their investment are invited to contactKaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (888) 715 – 1740, or by email ([email protected]/[email protected]) or online athttps://kaskelalaw.com/cases/vaalco/to receive additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and M&A litigation, and has helped recover over $100 million on behalf of victimized investors. For more information about Kaskela Law LLC, please visit www.kaskelalaw.com.

CONTACT:

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Copyright 2022 GlobeNewswire, Inc.

Russia-Ukraine live updates: Zelensky says Ukraine is ready to ship grain

Credit…Hiroko Masuike/The New York Times

Exxon Mobil and Chevron, the two largest energy companies in the United States, said on Friday that profits hit record highs in the second quarter as they continued to reap the benefits of soaring oil and gas prices.

Exxon reported revenue of $17.9 billion for the three months through June, more than three times what it earned in the same quarter a year ago. The energy giant’s revenue jumped to $115.6 billion from $67.7 billion a year ago. Chevron’s performance was similar, with profit more than tripling to $11.6 billion as sales hit $65 billion from $36 billion a year ago.

After oil prices nearly doubled from a year ago, earnings were expected, but Exxon and Chevron still beat analysts’ earnings forecasts in the quarter. The results mean that five of the biggest Western oil companies – including Britain’s BP and Shell, as well as France’s TotalEnergies – are expected to have generated some $60 billion in profits in the second quarter.

Shell and Total also reported bumper earnings on Thursday, and analysts expect similarly strong results from BP next week.

With oil and gas prices as high as they are, the earnings results could increase political pressure on oil companies to do more to increase production and cut costs for consumers. They have already faced heavy criticism from political leaders, including President Biden, over windfall profits at a time when consumer prices in the United States are rising.

On Friday, the companies said they would increase production somewhat, but they also announced a sharp increase in share buyback programs that reward shareholders.

The surge in profits followed a surge in crude oil, natural gas and gasoline prices this year, stemming primarily from Russia’s invasion of Ukraine and efforts to punish Moscow by cutting its sales of oil to the rest of the world. A global economy rebounding from the coronavirus pandemic and oil producers’ reluctance to rapidly ramp up production also contributed to the price spike.

In the three months from April to June, the U.S. crude oil benchmark averaged around $109 a barrel, 64% higher than the same period a year earlier, according to data from Bloomberg. On Friday, the price of West Texas Intermediate crude was closer to $98 a barrel.

The average price of gasoline in the United States hit a record high of just over $5 a gallon on June 14, according to AAA. But the price has come down in recent weeks. On Friday, the national average was around $4.26 a gallon.

Exxon said Friday its refining profits — profits from turning crude oil into gasoline and other fuels — jumped to $5.3 billion from a loss of $865 million a year ago. At Chevron, refining profits were $3.5 billion in the second quarter, down from $839 million a year earlier.

Rising energy costs have become a major contributor to inflation around the world and have drawn heavy criticism from energy producers. In June, Mr Biden said “Exxon has made more money than God this year”, as he criticized the company for not investing enough to increase production. Britain, home of BP and Shell, has announced a special tax on the “extraordinary” profits of oil and gas companies.

“Chevron is increasing energy supply, increasing investment, and we’re engaging constructively with Congress and this administration,” Pierre R. Breber, Chevron’s chief financial officer, said Friday on a call with investors to discuss results.

On Thursday, Shell chief executive Ben van Beurden blamed high energy prices on global market conditions and government policies that had discouraged investment in oil and natural gas.

“Ultimately our role is to provide the energy the world needs,” he said.

On Friday, Exxon and Chevron noted that they were increasing production in the Permian Basin, a shale oil field in Texas and New Mexico. But companies face pressure from shareholders not to overspend on expansion, said Faisal A. Hersi, energy analyst at Edward Jones.

“After years of overspending, these companies have found a religion and are focusing on capital spending discipline,” Mr. Hersi said. “They will try to increase production at this rate of 1-3%, which is an acceptable rate for investors as long as they are able to increase cash returns.”

At the same time, however, corporations are spending billions of dollars to buy their own stock, a move designed to reward shareholders by increasing the value of a company’s stock. The five oil giants spent more than $20 billion on takeovers in the first half and are expected to spend even more in the second half.

Chevron, which spent nearly $4 billion buying back its own shares in the first half, on Friday raised the upper limit of its full-year repurchase target to $15 billion from $10 billion. . Exxon, which spent $6 billion on buyouts in the first half, said on Friday it was “on track” with a plan for $30 billion in buyouts in 2022 and 2023, a goal it tripled there a few months old.

Shell said Thursday it would repurchase $6 billion of shares in the third quarter, and Total’s plan for $2 billion in third-quarter buybacks was seen as too conservative by comparison, so shares of the company did not rise as much as those of its competitors this week.

Although it’s common practice in the corporate world, spending money on buyouts, instead of investing those funds in expanding or hiring more workers, has also drawn ire. politicians, with Sen. Elizabeth Warren of Massachusetts calling them “manipulative” and her fellow Democrats proposing a tax on the practice.

“It’s a practice that can seem unseemly, and companies don’t always have the best track record of buyouts,” said Steve Sosnick, chief strategist at Interactive Brokers. “Like all other types of investors, they may be inclined to buy high and not buy low.”

Investors have been watching corporate earnings closely this quarter as fears grow over a possible recession and its effect on economic conditions. Expectations of a slowing global economy in the second half sent energy prices plummeting in the weeks following the end of the second quarter, making it unlikely that the oil company’s profits would maintain that pace.

“I wouldn’t tell you that we’re seeing something that would say we’re in recession or close to recession,” Exxon chief executive Darren Woods said on a conference call with investors. “But I would also say it’s a complex picture, frankly.”

But, for now, stock market investors are enjoying the earnings windfall. The energy sector is one of only two groups out of 11 in the S&P 500 index to post gains in 2022, returning 41.7%. The other group is utilities, which gained 3.5%.

The broader S&P 500 is down almost 14% in comparison.

On Friday, Exxon’s share price climbed 4.6% and Chevron’s 8.8%, a gain that made it one of the best performers in the S&P 500.

Third Quarter 2022 EPS Estimates for Helix Energy Solutions Group, Inc. Raised by Analyst (NYSE:HLX)

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Helix Energy Solutions Group, Inc. (NYSE: HLX – Get a rating) – Capital One Financial analysts raised their third-quarter 2022 earnings per share estimates for Helix Energy Solutions Group in a research report released Tuesday, July 26. Capital One Financial analyst L. Lemoine now expects the oil and gas company to earn $0.12 per share for the quarter, up from his previous forecast of ($0.11) . Capital One Financial has an “outperform” rating and a price target of $6.00 on the stock. The consensus estimate for Helix Energy Solutions Group’s current annual earnings is ($0.56) per share. Capital One Financial also released estimates for Helix Energy Solutions Group Q4 2022 earnings at ($0.02) EPS, full year 2022 earnings at ($0.35) EPS, Q1 2023 earnings at 0, $0.01 EPS, Q2 2023 profit at $0.10 EPS, Q3 2023 profit at $0.10 EPS, Q4 2023 profit at $0.02 EPS and FY2023 profit at $0.23 EPS.

Helix Energy Solutions Group (NYSE: HLX – Get a rating) last released its quarterly results on Monday, July 25. The oil and gas company reported ($0.14) EPS for the quarter, beating analyst consensus estimates of ($0.16) by $0.02. Helix Energy Solutions Group posted a negative return on equity of 7.13% and a negative net margin of 17.62%. In the same quarter of the previous year, the company achieved EPS of ($0.09).

A d Investment trends

707% growth for American Lithium Company after its fightback against China

The United States is waging an economic war with China over lithium. So far, we were losers (China controlling 80% of lithium production). But this small lithium company could change that with its significant stakes in the hottest region of the United States for lithium discoveries.

Several other brokerages have also recently released reports on HLX. Cowen raised his price target on Helix Energy Solutions Group from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI upgraded Helix Energy Solutions Group from an “in-line” rating to an “outperforming” rating and raised its price target for the company from $6.00 to $8.00 in a research note on Wednesday. StockNews.com upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a Friday, June 17 research note. Cowen raised his price target on Helix Energy Solutions Group from $6.50 to $7.50 in a research note on Wednesday. Finally, Piper Sandler raised its price target on Helix Energy Solutions Group from $6.30 to $7.25 and gave the company an “overweight” rating in a Monday, April 18 report. One investment analyst gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Helix Energy Solutions Group shares up 6.9%

Shares of NYSE HLX opened at $3.86 on Friday. The stock has a market capitalization of $585.37 million, a P/E ratio of -4.95 and a beta of 2.91. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt ratio of 0.16. Helix Energy Solutions Group has a 12-month low of $2.47 and a 12-month high of $5.78. The company’s 50-day simple moving average is $3.59 and its 200-day simple moving average is $4.07.

Institutional negotiation of the Helix Energy Solutions group

A number of hedge funds and other institutional investors have recently changed their positions in HLX. Pinebridge Investments LP acquired a new stake in shares of Helix Energy Solutions Group during the fourth quarter at a value of approximately $31,000. Captrust Financial Advisors increased its position in Helix Energy Solutions Group by 91.4% in Q1. Captrust Financial Advisors now owns 6,907 shares of the oil and gas company valued at $33,000 after acquiring 3,298 additional shares during the period. KBC Group NV acquired a new position in Helix Energy Solutions Group in the 2nd quarter worth approximately $37,000. Allspring Global Investments Holdings LLC acquired a new position in Helix Energy Solutions Group in Q4, valued at approximately $42,000. Finally, Commonwealth Equity Services LLC increased its position in Helix Energy Solutions Group by 54.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 17,669 shares of the oil and gas company valued at $55,000 after acquiring an additional 6,215 shares during the period. Institutional investors and hedge funds hold 86.81% of the company’s shares.

Helix Energy Solutions Group Company Profile

(Get a rating)

Helix Energy Solutions Group, Inc, an offshore energy services company, provides specialized services to the offshore energy industry primarily in Brazil, Gulf of Mexico, North Sea, Asia-Pacific and West Africa regions . The Company operates through three segments: Well Intervention, Robotics and Production Facilities.

See also

Earnings history and estimates for Helix Energy Solutions Group (NYSE:HLX)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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Enerplus to sell certain Canadian assets in Alberta to Journey Energy for US$109 million

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(RTTNews) – Enerplus Corp. (ERF, ERF.TO) said it has agreed to sell certain Canadian assets located in Alberta to Journey Energy Inc. for total consideration of C$140 million or US$109 million, before closing adjustments.

Under the terms of the agreement, the total consideration includes cash of C$81 million, 3.0 million common shares of Journey valued at C$14 million based on its volume-weighted average trading price five trading days, and a monthly amortization of C$45 million, interest-bearing loan that Enerplus will provide to Journey which is secured by certain of the assets and which is to be repaid in full by October 31, 2024.

Assets include the company’s Ante Creek and Medicine Hat operations as well as its extensive interests in the West Five and West Six regions of Alberta.

Enerplus noted that it continues to favor opportunities to divest its remaining Canadian assets in Alberta and Saskatchewan.

Enerplus said it plans to use the proceeds of the transaction to reduce debt and improve its return of capital to shareholders.

The transaction is expected to close at the end of the third quarter of 2022, subject to customary closing conditions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

First hydrogen storage system for NT

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Charles Darwin University (CDU) will develop a pilot hydrogen generator, storage and fuel cell system located in Darwin, the first of its kind in the Northern Territory.

UDC Energy and Resources Institute (ERI) will operate the Hydrogen Energy Storage System (ESS) for industrial partners, students and researchers to further develop and commercialize hydrogen as an energy source.

ERI Director Professor Suresh Thennadil said a green hydrogen future for the Northern Territory would require extensive research and assessment as well as the ability to train a workforce with the right skills. required to sustain a hydrogen industry.

“There is still a lot of work to be done for the Northern Territory to become a hydrogen producer for a global energy market that is investing heavily in alternative fuels,” Dr Thennadil said.

“ERI, with its REMHART Grid Systems Center, is uniquely placed to help drive this renewable energy industry in the Northern Territory by bringing together dedicated researchers and industrialists to address the challenges.”

Dr Thennadil said Federal Government funding is enabling ERI to develop a world-class grid-testing facility that fosters CDU-industry collaborations in the Northern Territory through applied research projects and of training programs.

Dr Thennadil said the hydrogen electrolyzer and fuel cell system would expand our capabilities in renewable energy systems.

Hybrid Systems is supplying the electrolyser, hydrogen storage and fuel cell system which will be housed at the Renewable Energy Grid Test Facility at East Arm Wharf, Darwin.

Hybrid Systems Executive Director Mike Hall said the system would create hydrogen from fresh water and store the fuel at the test facility.

“We are excited to work with CDU to adapt our proven and reliable ESS product to researchers to test the ability to create renewable hydrogen and to integrate electrolysers and fuel cells into the grid,” said Mr. Lobby.

Hybrid Systems Australia is headquartered in Western Australia and provides on- and off-grid renewable energy services.

The Northern Territory Government announced in 2021 that it would invest in and support a renewable hydrogen industry in the territory.

The Northern Territory Renewable Hydrogen Strategy said the government’s vision is to make the territory a center for research, production and downstream manufacturing of renewable hydrogen technology internationally.

Here’s what you can expect at the 2022 Salt Lake Homes Parade

Estimated reading time: 3-4 minutes

No other place in the world is as important as your home. As a personal castle, every detail communicates who you are and reflects the things you love most.

If you’re unhappy with the current state of your humble abode, maybe it’s time for a design refresh. While you don’t necessarily have to remodel your entire home, even simple tweaks like changing paint colors or cabinet light fixtures can breathe new life into your living space.

One of the best ways to understand what you want is to visit the Salt Lake Parade of Homes where the best work of professionals, general contractors, designers and manufacturers is on full display.

The first-ever House Parade in the United States

Long before Pinterest and social media became popular, people got some of their best home ideas by visiting them in person. From the very first house show to now, participants have come away with a creative vision to build or update their dream home. To date, approximately 700 parades take place each year across the United States – and they all started right here in Utah.

Beginning in 1946, the Salt Lake Home Builders Association held the first-ever Home Parade and sparked an annual tradition that continues to inspire homeowners across the country. This year marks the 76th anniversary of the Salt Lake Parade of Homes and if you’ve never attended before, it’s time to see what it’s all about.

Here's what you can expect at the 2022 Salt Lake Homes Parade
Photo: Salt Lake House Parade

What to expect at this year’s parade

Whatever your personal tastes or preferences, this year’s Salt Lake Parade of Homes will help you experience every aspect of residential living – from small subdivisions to pristine mansions and a modern apartment.

If you’ve ever dreamed of living in a high-rise filled with five-star hotel amenities, come check out the Liberty Sky apartments downtown. With floor-to-ceiling windows, remarkable views and modern features designed for comfort, you’ll soon understand why hundreds of people call Liberty Sky home.

Even if you plan to stay in your current home for the long term, the Salt Lake Parade of Homes can give you ideas on how to update your space. Find inspiration to spruce up your decor or remodel a certain part of your home. Learn how to make your home more energy efficient with the latest appliances and technology. These updates could end up making you a lot more money if you ever decide to sell.

Here's what you can expect at the 2022 Salt Lake Homes Parade
Photo: Salt Lake House Parade

“Energy conservation features can have a significant impact on home value, especially in locations with extreme heat or cold,” said Joanne Theunissen, president of the National Association of Home Builders Remodelers. , to Beth Buczynski of NerdWallet.

Of course, if you’re looking for something fresh and new, Salt Lake Parade of Homes is the bread and butter. Whether it’s a fill-in or a new development, they have many homes, styles, and price ranges designed to meet every need. For maximum convenience, most new homes are easily accessible to people living in Salt Lake and Tooele counties.

Whether you’re looking for a townhouse, a luxury home, something downtown, or something in the valley, you’ll find it all in the Salt Lake Parade of Homes.

Buy your tickets online

Don’t miss your chance to visit some of the most impressive homes on the Wasatch Front!

The Salt Lake Parade of Homes runs from July 29 to August 13 and is open daily from 12 p.m. to 9 p.m., except Sunday and Monday. Your ticket grants entry to 18 Parade houses, including two re-entries, so you can visit your two favorite houses a second time. Your parade ticket will also allow you to virtually explore four additional houses online.

For more information and to purchase tickets, visit SaltLakeParade.com. Use discount code “KSL” to receive $3 off per ticket.

Salt Lake House Parade

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Saipem confirms targets after return to core profits

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A Saipem logo is seen on the deck of the deepwater drilling vessel Saipem 10000 in the port of Genoa, Italy, November 19, 2015. REUTERS/Alessandro Garofalo//File Photo

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MILAN, July 27 (Reuters) – Italy’s Saipem confirmed its 2022 guidance and business plan targets on Wednesday after the energy services group reported first-half adjusted core profit of 321 million euros ($325 million).

This month, investors agreed to fund just €1.4 billion of a €2 billion cash call, leaving underwriting banks to mop up the remaining new shares. Read more

However, CEO Francesco Caio sounded a more upbeat note after a big profit warning earlier this year and said the company would stick to its 2022-25 targets.

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“Based on these results, we confidently await the targets for the year and for the plan,” Caio said in a statement.

A year earlier, the group, controlled by the energy group Eni (ENI.MI) and the public lender CDP, had recorded in the first half a loss of 266 million euros in adjusted profit before interest, taxes, depreciation and amortization ( EBITDA).

It aims to reduce its net debt to around 800 million euros by the end of the year, excluding expected proceeds from the sale of its Onshore Drilling business, against 1.7 billion at the end of the first half.

The group plans to turn ships used to build offshore facilities into a separate entity to raise funds and further reduce debt, chief financial officer Paolo Calcagnini told reporters.

The company also said it did not expect a major LNG project in Mozambique to restart this year after being suspended last year for safety reasons.

Saipem shares, which have lost more than 80% of their value this year, gained 2% at 11:30 GMT.

First-half revenue jumped nearly 40% to 4.435 billion euros, helped by a positive performance in offshore engineering and construction and drilling thanks to a surge in global demand for infrastructure oil and gas.

Saipem expects to record an adjusted EBITDA of more than 500 million euros this year.

($1 = 0.9863 euros)

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Reporting by Francesca Landini, editing by Jason Neely and Keith Weir

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Five things to consider when designing and commissioning high-performance solar-plus-storage projects – pv magazine International

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Of pv magazine United States

When it comes to designing and building solar and energy storage projects, experience matters. Here are five things to consider when designing and commissioning a high-performance solar-plus-battery storage system, along with an actual case study of such a heavily loaded DC-coupled system.

  1. Model use case scenarios to maximize value

To truly optimize battery storage system (BESS) designs in solar projects, the use cases for PV and storage must be well understood and aligned with the financial model of the project. This requires a high level of project optimization and specialization, held only by the most experienced storage partners. For example, the team should be aware that storage systems can be effectively oversized in the first year, rather than scaled up, to match the degradation of PV modules and the exponential decrease in peaked solar output.

Decision dynamics vary depending on the architecture (AC versus DC coupling) and market applications. At a minimum, these hybrid systems allow projects to deliver more value to the grid by distributing electricity during peak demand periods; at best, they can improve solar performance, traverse turbulent grid conditions to keep the plant online, and enable value stacking on retail, wholesale, and merchant revenue targets.

  1. Plan early and often for energy storage security

Safety is the number one priority for solar plus storage systems, and planning should begin well before installation. Owners should consider security from the early stages of the project, including the development phase, and seek help from experts who can talk about product bankability, technical viability, risk mitigation and the many security aspects of their project. Before considering the use of any storage product, a thorough security due diligence process covering every component of the system should take place. This diligence ensures that an asset will reach its expected life while ensuring compliance with applicable codes and standards and local authorities having jurisdiction (AHJ).

A risk assessment methodology should focus on the causes and consequences of component-level failures and apply a single risk tolerance to assess whether protective measures provide a safe and acceptable outcome. Here is an example of an evaluation sequence used in a typical hazard analysis:

  • Determine your organization’s acceptable risk tolerance.
  • Assuming the failure occurs, determine the immediate consequence(s) of the failure.
  • Assess the probability of failure based on available safeguards.
  • Note the severity of the consequence(s).
  • Establish a level of risk based on the likelihood and severity of failure.
  • Apply current protective measures and reassess the level of risk.
  • List recommendations for bringing the risk to appropriate levels.
  • Implement the recommendations.

The product safety process should include, among others, the following critical steps:

  • Review product certifications and applied testing standards.
  • Review the manufacturer’s Failure Modes and Effects Analyzes (FMEA).
  • Review UL 1973, UL 9540A, and functional safety test results.
  • Ensure suppliers have quality systems in place for incident prevention.
  • Ensure suppliers have a sufficiently detailed emergency response plan or product-specific guidelines that assess systems for the recovery stage of the incident.

Using products without in-depth knowledge of them is inherently dangerous when it comes to designing energy storage systems. Although there are many lithium-ion technologies on the market, incorporating a deliberate recommendation process leads to the best-suited system for a given project. When the EPC has a strong knowledge base, it can do its best to manage the supply and due diligence of BESS products.

  1. Energy storage data infrastructure is complex

It is not uncommon to find professionals in the solar industry baffled by the long lead times required to properly commission energy storage systems. A common cause is the overwhelming amount of data needed to control, monitor, and secure systems appropriately. Much of this data is generated by one system, required by another to operate effectively, and stored in a third location, making data infrastructure and network planning of paramount importance. The earlier the design of the project and the more complete this planning, the more the system is likely to operate correctly until commissioning.

For large commercial, community, or large-scale projects, there are many battery modules, battery racks, cabinets, meters, and power electronics at every level. Each of these components connects to the energy management system (EMS) and data acquisition system (DAS), and any physical or software issue can cause a system warning or crash – and every system crash may cause a shutdown. Troubleshooting the DAS can be a hindrance to performance testing because the BESS subsystems are highly codependent. Networking should be worked out during the design phase. Standardizing the data infrastructure is extremely beneficial and redundancy will keep your system online.

Finally, consider the impact of data dependencies on each phase of system commissioning. For example, to perform solar capacity testing for a DC coupled system, data from the energy storage inverter will likely need to be accessed and referenced. This means that all network connections between the energy storage equipment and the DAS must be terminated prior to solar testing. EPC and energy storage vendor teams should work closely together to ensure a smooth commissioning process that minimizes downtime and delays.

  1. Monitor and control equipment conditions during construction

Batteries typically have temperature and humidity thresholds, which is why it is essential to have operating climate management systems in place not only during asset operation, but also during the pre-power-up period. between delivery and commissioning. On construction sites without auxiliary power, batteries can sit in the sun all day with internal temperatures reaching 150°F. Excessive heat and humidity will degrade the health of a battery and can lead to premature failure and future hazards. During construction, it is important to properly coordinate deliveries with temporary or permanent auxiliary power sources to maintain, control and monitor the condition of the batteries.

Conditioning and preventive maintenance are not limited to batteries. Long storage times can also cause unsuspected damage to a power conversion system. Without proper operation and heating, humidity control, and preventive maintenance, serious damage can occur to power modules, fans, control boards, capacitors, etc., creating a risk to safety during commissioning and a large bill to rectify or replace the unit.

  1. Share lessons learned from the field and asset operations

It may seem obvious, but field operators, project managers, commissioning engineers, and asset management professionals need to proactively share lessons learned for optimal success. Learning from team members on different projects across portfolios is one of the best ways to work around potential issues. In other cases, shared experiences can apply regionally, across similar use cases, and in particular on the design and implementation of a given product.

For example, slight changes made to a product from one generation to the next, such as a change in duct entry points, may not be updated in the supplier’s drawings at an early stage. By sharing this information before subsequent deliveries, site supervisors on other projects can make changes in the field and avoid delays. Other on-the-job learnings include rigging setup, pre-powering and commissioning the DAS, and using the pre-commissioning checklists.

Case Study: Ground Fault Detection of a DC Coupled System

One of the unique challenges of deploying heavily loaded DC-coupled power plants is designing appropriate and effective ground fault detection systems. In DC-coupled systems, the solar and energy storage systems aggregate on the inverter’s DC power bus. Due to the increase in the number of PV circuits (due to the high charging rate of the inverter) and energy storage system circuits combined in parallel, the inherent insulation resistance of the plant is lower , making a single sensing device more likely to trigger on changes in environmental conditions.

On a portfolio of multi-site solar and storage projects in the Northeastern United States, this ground fault detection issue was resolved through extensive collaboration with partners and a thorough redesign of the insulation monitor . A new system was deployed that could handle the unique conditions presented at each site without compromising safety or operational proficiency.

Early and Persistent Planning

A thorough due diligence process creates value and mitigates risk for the customer and gives confidence to system suppliers, leading to more efficient design, construction, commissioning and operations. Early and persistent planning is key to maximizing the full scope of value engineering opportunities on solar and energy storage projects.

Kyle Cerniglia is Borrego’s Director of Engineering for Energy Storage. He is responsible for energy storage technology, engineering and product integration for the Anza business.

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SSE Renewables begins laying foundations for Dogger Bank Offshore Wind Farm

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Work has started on the installation of 277 of the world’s largest offshore wind turbine foundations in the North Sea, in another major milestone for the 3.6GW Dogger Bank Wind Farm, which is under construction. development 80 miles off the Yorkshire coast.

The renewable energy project, which will be able to power 6 million UK homes a year when completed, is a joint venture between SSE Renewables (40%), Equinor (40%) and Eni Plénitude (20%). SSE Renewables is the prime operator for the development and construction of the Dogger Bank Wind Farm, while Equinor will be the prime operator of the wind farm when completed for its expected life of approximately 35 years.

The campaign to install the turbine foundations on what will be the largest offshore wind farm in the world has started in recent days, with the installation of the first monopile and the transition piece on Dogger Bank A. The installation campaign is led by Seaway 7 supported by DEME.

The foundations for the turbines at the Dogger Bank Wind Farm feature a unique two-tiered transition piece, as well as an eight-metre flange – or protruding flat flange – to support the turbine towers.

Installation of GE Renewable Energy’s Haliade-X turbines on each of the installed turbine foundations will begin from spring 2023.

Steel made by Tata Steel in Wales and processed at Corby and Hartlepool is used in the transition piece support components, while South Tyneside-based Metec and Rochdale-based Granada Material Handling also won contracts with Smulders to support this project.

“These foundations have been designed for what is arguably the most demanding wave environment one can encounter on an offshore wind farm and is a testament to the many companies involved in working together to achieve this unprecedented milestone,” says Steve Wilson, Project Director of SSE Renewables. for the Dogger Bank wind farm. “In addition to the breadth of the foundations, we have incorporated a unique two-level transition piece that allows technicians to safely access directly into the turbine tower from our service and operating vessels, eliminating thousands of manual handling activities and lifting operations over the lifetime of the assets.

“The successful installation of our first monopiles and transition pieces is a huge step for offshore wind globally and will lay the foundation for the Dogger Bank wind farm to help achieve the UK’s net zero target, enabling the development of a cleaner, cheaper and safer future energy system,” continued Wilson. “It also demonstrates the continued innovation in our industry as we begin to install the increasingly larger and more powerful turbines that are needed to safely power our homes and businesses in a net zero world.”

Designed in the UK by experts at Wood Thilsted, the foundations have been optimized to cope with the difficult wave loads in the Dogger Bank area of ​​the North Sea, with installation in water depths of up to 32 meters and 130 kilometers from shore, and provide a solid and stable base for the scale of GE Renewable Energy’s revolutionary Haliade-X turbines.

“Wood Thilsted is proud to contribute to the success of the Dogger Bank Wind Farm,” said Alastair Muir Wood, CEO of Wood Thilsted. “Our team faced challenges including working with the largest turbine at the time, an innovative dynamic positioning installation vessel and very large wave loads. What made the success possible was the collaborative working relationship shared with the Dogger Bank team and other key stakeholders This project is a model of success for current and future projects.

During the three-year installation program for the three phases of the Dogger Bank wind farm, a total of 277 monopiles and transition pieces will be loaded onto installation vessels in Rotterdam before being transferred to the offshore wind farm site. deep in the North Sea. Using dynamic positioning technology, the vessels will locate the installation site in the seabed, from which a monopile measuring up to 72 meters will be knocked down and transferred to a pile clamp, before being lowered in the seabed.

A hammer will be used to drive the monopile to the design depth in the seabed before a guidance system aligns the installation of the eight meter record flanges which serve as a connection for the transition piece which is then installed on the monopile . The foundations require 152 giant M80 bolts to secure them before a cover is inserted over the top of the transition piece to leave it watertight.

Seaway 7 has been awarded the Tier 1 contract to install the foundations on all three phases of the Dogger Bank wind farm, with sub-contractor DEME deploying its Innovation vessel for the installation of the first foundations on Dogger Bank A. Following DEME Innovation, the Seaway Strashnov deploy on the Dogger Bank A to continue the installation of the foundations.

“The successful installation of the first Dogger Bank Foundation marks the start of a multi-year installation campaign for Seaway 7,” adds Wouter van Dalen, project manager for Seaway 7. “In good collaboration with our customer Dogger Bank Wind Farm and our partners and suppliers, this complex project has been prepared for installation with a number of different heavy lift vessels, starting with the DEME Innovation. Seaway 7 is proud to be part of the team building the Dogger Bank project and looks forward to safely installing the remaining 276 foundations.

“We are extremely proud to support the construction of the largest offshore wind farm in the world with the installation of the foundations and later in the program as an installer of the inter-grid cables”, comments Lucien Romagnoli, director of the business unit renewable energies at DEME Offshore. “These unique foundations are huge but also, they are technically complex. This is an important moment for offshore wind and the energy transition. It is wonderful to work alongside like-minded partners with the common goal of achieving a net zero energy system.

In November 2020, the Sif and Smulders consortium won the contract to manufacture all 190 monopiles and transition pieces for the Dogger Bank A and B phases of the wind farm, with a contract for all 87 monopiles and transition pieces remainder of Dogger Bank C awarded to consortium in 2021.

How the former footballer’s energy gamble ended up costing billpayers £700m | Energy industry

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AAs Avro Energy customers forked out their gas and electricity direct debits, they had no idea they were just postponing the death of a mismanaged company whose collapse would end up costing $700 million. pounds sterling to bill payers.

Despite having no apparent experience in the complex energy sector, Avro founder Jake Brown, a former non-league footballer, started the company with a family loan in 2016. As the company entered the market, Avro had amassed half a million customers while enriching Brown and his family along the way.

Between 2019 and 2020, these customers – who paid for their energy upfront – funded £4.25 million in “management fees” funneled to Sentido Marketing, owned and controlled by Brown, now 28. years, and his father, Philip, 58, the other company. director.

Over the same period, Avro, based in Hinckley in Leicestershire, loaned £700,000 to its owner-directors, the same father-son team. He also loaned a further £830,000 to Berkeley Swiss Ltd, a property development company whose directors and majority owners should by now be obvious: Jake and Philip Brown.

In September 2021, after racking up losses of £55m over seven years, Avro collapsed into administration, owing £90m to its 580,000 customers.

Those customers — and most of their credit balances — were taken over by Octopus Energy, a healthier rival. But the cost of Avro’s failure, which will ultimately be borne by all the country’s bill payers, has been estimated by energy regulator Ofgem at £700 million.

Ofgem is expected to be largely responsible for the fiasco, according to Tuesday’s report from MPs on the Business and Energy Select Committee.

A phalanx of companies flooded the market nearly a decade ago, responding to a deregulatory drive by the regulator to keep prices low by promoting competition for the big six suppliers such as British Gas, SSE and EDF Energy.

One of the new challengers was Avro, which Brown started shortly after completing an undergraduate law degree.

Aged just 22, neither he nor his father had ever done anything close to running a major energy supplier. Yet this did not prove to be a barrier to entry.

When asked at a select committee hearing last year if he had passed any test to show he was a “fit and proper” person to take on such responsibility, Jake Brown said reflexive. “I don’t think so…unless Ofgem did a background story on me. I don’t remember filling out anything specifically,” he said.

Brown apologized during the committee session for his role in what the report and industry sources said was a litany of failures.

Account books were not kept, as – according to a person familiar with the matter – the company had thousands of customers it did not know existed and from whom it received no money. Meanwhile, administrators “constantly enriched themselves” through unwarranted loans and salaries, funded by prepayments from clients.

Of the loans taken out by administrators, according to the MPs’ report, it was “unclear” how much was repaid before Avro entered administration. Accounts filed at Companies House show £381,000 was outstanding as of June 2020.

Like many of the 29 suppliers that have failed so far, Avro has not implemented a hedging strategy to hedge against the high gas prices that have set in over the past year. He was “negligent” in risk management, according to the report.

In the end, the bill payers had to “bear the cost of their failure”.

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MPs said they were ‘disappointed’ by an admission by former Ofgem chief executive Dermot Nolan that the regulator had been unaware of events at Avro, despite Citizens Advice raising concerns about 10 times the company to the regulator.

The committee urged the government to consider giving the “negligent” regulator greater powers to prosecute misconduct by directors of energy companies. He also called on Avro’s directors to ask the insolvency department to consider taking action against the former directors and provide an update on what steps could be taken to recover customers’ money.

Requests for comment sent to Avro’s email addresses for Jake Brown and Justine Brown, his mother and former Avro human resources manager, were not returned.

Austin Energy changes original proposal at base rate review conference, but critics say it’s not enough

Tuesday July 26th, 2022 by Kali Bramble

As the grid works overtime to absorb record heatthe battle over energy prices continues.

Austin Energy met face to face with stakeholders earlier this month with its proposal to raise and restructure rates, citing widening revenue gaps threatening utility finances. The three-day hearing consisted of hours of cross-examination, with interest groups challenging the case from multiple angles.

“Austin Energy has lost $90 million over the past two years…and just two weeks ago Fitch’s credit rating downgraded Austin Energy from AA to AA minus,” the lawyer said. Thomas Brocato. “Despite customer growth, revenue growth is hampered by outdated rate designs that rely too heavily on energy sales, particularly in the residential category. Accordingly, Austin Energy proposes to approximate these classes to the cost of service. »

Hoping to appease backlash, Austin Energy led the conference by announcing a proposed new revenue requirement of $35.7 million, a decrease of 25% from its original figure of $48.2 million. Still, industrial and residential consumer groups have argued that the drastic increase in utility base loads poses undue risks to Austin’s economy.

Texas Industrial Energy Consumers, NXP Semiconductors, Data Foundry, Sierra Club, Solar United Neighbors and an independent consumer advocacy group quibbled over details but agreed Austin Energy had inflated revenue gaps, ignoring the total impact of winter storm Uri in its test year. From there, opinions are divided, with different approaches both to calculating revenue requirements and to allocating costs between residential and industrial customers.

The utility’s proposal to increase its flat monthly fee from $10 to $25 is particularly controversial, a change that residential consumer advocates say would disproportionately impact low-income users and those with the least energy consumption. ‘energy.

“We see the impact here, especially on the smaller users, is dramatic…so much so that I’m not sure the information Austin Energy provided to the public fully prepared them,” the independent advocate said. consumers John Coffman. “The residential class impact as proposed would be 17.6%, not 7% ​​system-wide…that’s a rate shock.”

Adding fuel to the fire was an argument that emerged between the independent consumer advocacy team and attorneys from Texas Industrial Energy Consumers, a coalition that represents the state’s largest commercial energy users. Experts from both sides argued competing approaches at cost allocationwith industry advocates pushing a peak demand-based method during the summer months, and residential advocates pushing an intermediate base-to-peak method following usage patterns throughout the year.

Of course, under this quarrel of methodology was hidden a battle between classes of consumers and who should pay the price. Both methodologies differ from the 12-month coincident peak method used in Austin Energy’s original proposal.

Another battle has coalesced around efficiency, with the Independent Consumer Advocacy Team and the Sierra Club noting that Austin Energy’s current flattening 5 Tier Pricing Structure into three tiers would undermine efforts to encourage energy conservation. Along with recouping revenue primarily through a fixed monthly fee, stakeholders are concerned that the financial incentives to cut are virtually imperceptible.

Austin Energy’s proposed restructuring of the value of the solar tariff, which provides discounts customers equipped with solar panels. More complex and prone to volatility, some fear the new formula will deter further investment in renewables and betray customers already committed to the program. In light of broken promises to shut down the Fayette plant by the end of 2022, environmental advocates have raised suspicions about Austin Energy’s commitment to meeting the demands of the Resource, Production and Climate Protection Plan 2030.

“I think there is no doubt that Austin Energy is truly a leader in environmental activism, bold progressive policy and excellence in efficiency, distributed generation and solar power,” said said Cyrus Reed, director of conservation for the Sierra Club. “But curiously, in this case, Austin Energy is stepping back from that leadership role…by proposing an outrageous increase in fees charged to customers…that violates affordability policies…sends the message that dollars are more important than the environment…and abandoning the existing solar program…which is one of Austin Energy’s crown jewels.

Participants in the base rate review process will give closing briefs this Thursday, while Austin Energy will have the opportunity to present its final case on Tuesday, August 9. From there, the hearing’s independent reviewer will take a month to review the evidence, returning with recommendations to City Council on September 9, which will prepare to discuss the case in November.

Those interested in following the proceedings can find more information here.

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Genie Energy will make its second report

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NEWARK, New Jersey, July 25, 2022 /PRNewswire/ — Genie Energy Ltd., (NYSE: GNE, GNEPRA), a global energy services provider, will announce its financial and operating results for the second quarter of 2022 on monday august 82022.

Genie Energy will issue a press release on a wire service and post it to the “Investors” section of Genie Energy’s website (https://genie.com/investors/quarterly-earnings/) at 7:30 a.m. East. The release will also be filed in a current report (Form 8-K) with the SEC.

To 8:30 am Eastern, Genie Energy management will host a conference call to discuss financial and operating results, business outlook and strategy. The call will begin with management’s remarks followed by a question-and-answer session with investors.

To participate in the conference call, dial 1-888-506-0062 (US toll-free) or 1-973-528-0011 (international) and provide the following participant access code: 955827.

Approximately three hours after the call, a replay of the call will be available by dialing 1-877-481-4010 (toll-free from the United States) or 1-919-882-2331 (international) and providing the replay password: 46224. The replay will remain available via August 222022. A recording of the call will also be available for playback on the “Investorssection of the Genie Energy website.

In this press release, all statements that do not relate solely to historical facts, including, but not limited to, those in which we use the words “believe”, “anticipate”, “expect”, “plan”, “intend”, “estimate”, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although these forward-looking statements represent our current judgment of what may occur in the future, actual results may differ materially from the results expressed or implied by such statements due to many important factors, including, but not limited to, those described in our most recent report on the SEC 10-K Form (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports s on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update any forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

About Genie Energy Ltd. :
Genie Energy Ltd. (NYSE: GNE, GNEPRA), is a global provider of energy services. The Genie Retail Energy division provides electricity and natural gas to residential and small business customers in United States. The Genie Retail Energy International division supplies customers in Scandinavia. The Genie Renewables division includes Diversegy, a commercial and industrial brokerage and advisory services company, and Genie Solar Energy and Prism Solar, which design, supply and install commercial solar solutions. For more information, visit Genie.com.

favicon.png?sn=NY26510&sd=2022-07-25 Show original content to download multimedia:https://www.prnewswire.com/news-releases/genie-energy-to-report-second-quarter-2022-results-301592761.html

SOURCE Genie Energy Ltd.

Cypress Creek Renewables acquires 400 MW from Black Mountain Energy Storage

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SANTA MONICA, Calif., July 25, 2022 /PRNewswire/ — Cypress Creek Renewables has added 400MW/600MWh to its storage portfolio after acquiring four Texas Black Mountain Energy Storage (BMES) stand-alone energy storage projects. The projects, each 100 MW, are located across the Electric Reliability Board of Texas (ERCOT) and are currently under development.

Cypress Creek will continue project development, rights, engineering, procurement, financing, construction and will operate the 400 MW/600 MWh portfolio upon completion. All four projects are expected to be commissioned in 2024.

Nationally, Cypress Creek has developed over 11 GW of solar power to date and has a 15 GW solar and storage pipeline. In the ERCOT market, Cypress Creek has developed 5 GW of solar and storage assets, bringing resilience and flexibility to the grid.

“ERCOT is an incredibly dynamic energy market, and stand-alone storage assets will continue to provide opportunities to increase grid reliability through flexible and dispatchable resources,” said Jack Murray, director of mergers and acquisitions at Cypress Creek. “Black Mountain has been an exceptional partner to work with and we are excited to put our development, EPC and financing expertise behind these assets to get them over the finish line, affirming our commitment to developing resources resilient renewable energy sources throughout Texas.”

“It was a pleasure to work with the team at Cypress Creek, and we are thrilled to have helped them on their journey to becoming one of the premier renewable energy developers in the United States,” said Rhett Bennett, CEO of BMES. “Cypress not only understands the electricity market, but also the critical importance of energy storage. They are committed to renewable energy, and we are excited about the potential of these projects and the immense positive impact they will bring to the grid.

The transaction was facilitated by the LevelTen Energy Asset Marketplace, connecting renewable energy projects and buyers to the execution of the transaction.

“It was an honor to support this transaction through LevelTen Asset Marketplace, which brings together project developers and investors, and provides the online tools they need to complete asset sales,” said Patrick Worral, Vice President of Asset Marketplace, LevelTen Energy. “Black Mountain Energy Storage and Cypress Creek Renewables are industry leaders, and we look forward to following the progress of the development of this portfolio of storage projects.

About Cypress Creek Renewables

Cypress Creek Renewables is a leading renewable energy developer and independent power producer. It develops, finances, owns and operates large-scale and distributed solar and energy storage projects across United States with a mission to power a sustainable future, one project at a time. Since its inception, Cypress Creek has developed over 11 GW of solar projects. Today it has 2 GW of solar power and has a 15 GW pipeline. Cypress Creek’s leading O&M services company operates and maintains 4 GW of solar projects for customers in 19 states. For more information on Cypress Creek, please visit www.ccrenew.com.

About Black Mountain Energy Storage

Black Mountain Energy Storage is a team of energy experts that develops and operates battery energy storage facilities. Founded in 2021, BMES was created to bring reliable, emission-free energy storage capacity to the power grid to improve system reliability and enable greater reliance on renewable energy generation. It focuses on investing in communities and markets where energy storage will deliver long-term value to stakeholders.

www.bmenergystorage.com

SOURCE Cypress Creek Renewables

Atlassian co-founder Scott Farquhar and his wife, Kim Jackson, decide to acquire energy company Genex Power

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But Genex Power – which has long been a darling of renewable energy advocates and has received strong taxpayer support – has endured painstaking capital raising to develop the projects and the consortium believes taking the company private would allow it to accelerate its growth.

“We have been a supportive shareholder of Genex and believe that long-term private capital can help the company reach its full potential. We see strong promise in the Genex portfolio and together the Skip Essential Infrastructure Fund and Stonepeak bring the experience and knowledge to enable Genex to play a much bigger role in Australia’s energy transition,” Ms. Jackson said.

Genex owns the operating 50MW Kidston Solar Project in Queensland, is building (and has financed) a 250MW pumped storage hydro project of the same name, and is developing a 150MW wind farm, among a handful of other projects.

Importantly, for infrastructure-conscious tire-throwers, its flagship 250MW Kidston pumped hydro storage project is backed by a 10-year contract with Energy Australia, with two 10-year options to extend in favor of the retailer. of electricity.

These kinds of projects have long been coveted by potential buyers, but the election of the Labor government has thrust renewable infrastructure companies into the limelight.

Speculation about Genex was stirred last year when Japanese giant J-Power took a 10% stake, having already signed a deal to build the group’s hydropower project and helped finance a new wind project.

Genex moved quickly to appoint Goldman Sachs as advisers to bolster its defenses.

The Australian Financial Review revealed last year that the Kidston project received more public funding than its total capital cost.

This included a $610 million loan from the Northern Australian Infrastructure Facility as well as $47 million from the Australian Renewable Energy Agency.

ARENA also agreed to convert an earlier loan of $9 million into a full grant that does not need to be repaid, effectively bringing ARENA’s grant funding to $56 million.

There was also $54 million in debt financing from the Clean Energy Finance Corporation for the nearby 50 megawatt solar farm, which is attached to the pumped hydro project.

The Queensland Government – ​​which is trying to achieve a target of 50% renewable energy by 2030 – is also funding and building the 186 kilometer, $147 million transmission line connecting the Kidston project to the power grid.

It also received an off-take agreement of up to 30 years from EnergyAustralia.

Albania’s new Labor government has made accelerating renewable energy production a central part of its political agenda. It has set an ambitious target for zero-emission sources to make up more than 80% of Australia’s electricity mix by 2030, which would see the country meet its net-zero emissions target by 2050.

The issue of power generation has recently been thrust into the national spotlight amid warnings of power outages in major Australian cities. The most feasible solution involves the development of a capacity mechanism that would ensure sufficient generation capacity.

Green industry, unions must solve problems for the good of the planet

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The July 13 article “Workers Wary of Green Plan” describes the reservations expressed by union leaders about the state’s green energy proposals. Unions will naturally resist changes that threaten jobs. The opposition between work and green energy is inevitable. But it can and will be solved.

The Rodgers & Hammerstein musical “Oklahoma!” illustrated the conflicts that arose when the open rangelands of cattle herders were fenced off to become farmers’ fields, a land in transition with clashing visions. A major shift was to occur like the one our energy system is currently undergoing.

Unions and green energy don’t have to initiate this kind of opposition, as the appointment of AFL-CIO President Mario Cilento to the Climate Action Council shows.

And by signing legislation that expands wage requirements for future renewable energy projects (one megawatt and up), Governor Kathy Hochul is ensuring renewable energy jobs will support families. It has also signed the Utility Thermal Energy Network and Jobs Act, which will create employment opportunities in the replacement of energy systems.

Of course, the transition from the 22,000 jobs lost expected to the 160,000 jobs gained by the energy evolution will involve some reconversion. But Dave Wasiura, assistant to the director of United Steelworkers, underestimates his workers when he says, “You can’t just put the 55-year-old steelworker with a basic education in a classroom” and say “Good luck. ‘”

Why not? They learned to do their current jobs. I think he could show a lot more confidence; after all, as the song goes, “Territory people should stick together, Territory people should all be buddies. Cowboys dance with the farmer’s daughters, farmers dance with the rancher’s daughters.”

For the sake of the territory (the planet), we can learn new skills as we evolve.

Barbara Burge

Amenie

It’s time for Canada’s beluga whale migration and you can watch it live

Up to 55,000 belugas migrate to warmer waters, as they do every year, and you can watch them live.

The live stream is produced through a partnership between Arctic conservation group Polar Bears International and nature live streaming network explore.org. It is broadcast from the Polar Bears International research vessel, Delphi, in the Churchill River estuary, where the river empties into Hudson Bay in northeastern Canada. The goal of the Beluga Whale Live Cam livestream is to educate people about sea ice so they better understand its importance to the Arctic ecosystem.

Sea ice “is to the ocean what soil is to forest,” said Alysa McCall, director of conservation outreach and scientist at Polar Bears International, according to Live Science.

“Sea ice is critical habitat for arctic species,” McCall continued. “Walruses and seals use sea ice for refuge, seals give birth on sea ice, and beluga whales use sea ice for protection from killer whales. All arctic species in the ocean are supported by arctic sea ice, because in arctic sea ice grow algae that resemble northern plants.

Although the amount of Arctic sea ice is rapidly shrinking due to global warming, there’s also good news: Sea ice can potentially recover quickly if the climate cools, McCall said.

“When we get our carbon emissions down to a more sustainable level and start to shift more widely to greener energy, we know the sea ice will rebound,” McCall said. “The actions you are taking now to reduce carbon emissions and switch to solar power, wind power and incentivize these big companies to be more sustainable are absolutely having a positive impact on sea ice, which has a positive impact on all the animals that depend on it.”

The live broadcast began on July 15, Arctic Sea Ice Day.

The “canary of the sea”

“Beluga whales, or Delphinapterus leucas, are known for their white color and range of vocal sounds, earning them the title “canary of the sea,” according to the National Oceanic and Atmospheric Fisheries Administration (NOAA). “They are very social animals, forming groups to hunt, migrate and interact with each other.”

Considering that whales live in arctic and subarctic waters, it’s no surprise that they have a thick layer of blubber and thick skin to help them live in freezing waters.

Another interesting feature is that instead of a dorsal fin, belugas have a dorsal ridge, which allows them to swim easily under floating ice patches. Indeed, the genus name Delphinaptera translates to “finless dolphin”.

On average, belugas weigh around 3,100 pounds and reach lengths of up to 16 feet. They have a lifespan of about 90 years.

Their diet includes octopus, squid, crabs, shrimp, clams, snails, and sandworms. They also eat a variety of fish, including salmon, eulachon, cod, herring, smelt, and flatfish.

All beluga populations are protected under the Marine Mammal Protection Act (MMPA). It’s important to note that NOAA Fisheries has designated some beluga populations in Alaska and Russia as “depleted,” meaning their numbers have fallen below what’s considered optimal sustainable population levels.

The beluga livestream

The so-called “beluga cams” ​​livestream begins each year as a pod of around 55,000 beluga whales migrate to the shallow waters of Hudson Bay.

In winter, the bay is locked in ice, said Stephen Petersen, director of conservation and research at Canada’s Assiniboine Park Conservancy, according to Live Science. However, belugas visit the region in the summer when the water is warmer.

Whales may find the bay’s sheltered waters provide protection from killer whales, Petersen told Live Science. In addition, estuaries provide belugas with a large amount of food.

Additionally, scientists also believe the whales return to the warm, low-salt waters of the Churchill River estuary to give birth. That’s because these warmer waters are ideal for newborn calves that don’t have a thick layer of fat to protect them from cold water.

There are two cameras aboard Polar Bears International Beluga Beluga boat – short for Delphinaptera, of course – to offer different views of the whales. The first camera is on the deck of the ship while the second is below the surface of the water. This camera even captures the cries of whales.

You can watch live streams here.

How you can help with research

While some beluga populations are small, the population that migrates into Hudson Bay each year is healthy. One of the goals of the live beluga cam broadcast is to work to maintain the health of this population, Petersen says.

“We want to increase surveillance so that if threats emerge or if this population changes, we can see it before we get to a critical point,” Petersen continues.

To this end, Petersen leads the citizen science project Beluga Bits.

Here’s how it works: Each year, beluga cam viewers can collect screenshots of the whales they see on Delphi’s live streams in July and August. Then, throughout the year, they can help identify individual whales in zooniverse.org images.

This work is helping scientists learn more about belugas, including whether or not the whales return to the same place each year.

You can read more about Beluga Bits here and zooniverse.org here.

If you want to learn more about whale watching in person, be sure to also read:

Hawaiʻi Gas acquired | Maui Now

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Hawaiʻi Gas and its other junior energy companies will be acquired by Argo Infrastructure Partners for $514 million. Photo courtesy: 6 pillars of marketing

The state’s only franchised gas utility was purchased by Argo Infrastructure Partners, LP. The purchase of Hawaiʻi Gas followed review and approval on June 29 by the Hawaiʻi Public Utilities Commission.

Hawaiʻi Gas President Alicia Moy said she was grateful to the commission and the many parties who contributed to the approval and rigorous review.

“This decision paves the way for Hawaiʻi Gas to accelerate its renewable energy plans and continue our pioneering work with renewable natural gas and hydrogen, two clean energy sources critical to our future,” Moy said.

The acquisition of Hawaiʻi Gas, the state’s largest propane distribution company, is expected to be transparent to customers and will not affect the company’s employees, wages or labor relations. The location of the company’s headquarters, local management team and Hawaii-based board members will not change. The assets of Hawaiʻi Gas, including the Waihonu solar farm, will also be acquired by Argo.

According to Bloomberg.com, New York-based Argo operates as an investment management company. The firm invests in leveraged buyouts, family estates, management buyouts, corporate spin-offs, recapitalizations, and buy-and-build transactions.

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Argo said Hawaiʻi Gas will continue to focus on initiatives to reduce greenhouse gas emissions.

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“Argo is pleased with PUC’s decision and is excited to have Hawaiʻi Gas join its portfolio of companies and support its efforts to improve sustainability and reduce its carbon footprint,” said Richard Klapow, the company’s chief executive officer. . “Argo fully supports the company’s clean energy plan and intends to provide access to capital to execute its clean energy transformation in line with Hawaii’s climate goals, while continuing to provide energy services. safe and reliable to its customers.”

Scott Glenn, director of energy for the Hawaiʻi State Energy Office, said his office looks forward to working with Hawaiʻi Gas and its new owner, Argo Infrastructure Partners, to advance our state’s climate goals and pursue innovations to support a resilient and clean energy future.

The UK lacks a plan for affordable and reliable energy

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The writer chairs the Lords Economic Affairs Committee and is an adviser to Banco Santander

As in so many countries, the impact of the Russian invasion of Ukraine on energy prices has been a wake-up call for the UK, exposing the country’s energy security vulnerabilities. The record temperatures were a reminder, if need be, of the need to fight against climate change. Together, these events raise a question: what is the plan to provide affordable and reliable energy as we move to net zero?

Answer: there is none. This is not to say that the government is lacking in commitment: it has passed legislation aiming to achieve net zero carbon emissions by 2050 and has set itself the goal of decarbonizing the electricity system by 2035. no ambition either, having increased the role that low carbon energy, particularly nuclear energy, will play. But a six-month investigation by Lords’ Economic Affairs Committee concluded the government lacks a comprehensive net zero delivery plan that takes energy security into account, setting out what needs to be done by whom and in what deadlines. This must be a priority for the next prime minister.

Such a plan is essential to mobilize sufficient investment to achieve the government’s objectives. In 2020, £10billion was invested in low-carbon technologies, but the climate change committee advises the government that £50 billion a year is needed by 2030. Investors have a healthy appetite to close this gap. If they want to invest more, however, ministers must act now to boost confidence.

Our committee has identified several fields of action. Market models need to be created to encourage investment in low-carbon technologies such as hydrogen, carbon capture and storage, and long-term storage. The planning system in England must include energy security alongside climate change objectives. The new UK Infrastructure Bank is expected to focus on financing innovative and potentially riskier projects, signaling their viability to investors. In the meantime, more investment in the North Sea should be allowed, while ensuring that any expansion of oil and gas exploration or investment is focused on projects with short lead times and payback periods , limiting the risk of stranded assets.

Action on all of the above, and more, is needed now to provide affordable and reliable energy during the transition – it is a prerequisite for public support for the changes needed to reach net zero. However, none of this will resolve the current energy shock. There is nothing ministers can do to lower the price of energy in the short term. Yet steps could be taken now to mitigate its impact over the coming winters.

Some necessary measures – such as extending the life of coal-fired power plants due to their closure – are already underway. But policy gaps remain. Faster insulation of homes and other measures to improve energy efficiency are needed. Ways are already being sought to encourage local communities to install onshore wind farms in their region; given that they can be built relatively quickly, ministers should now reconsider their ambitions. It is crucial to know that there is an agreement with European partners on energy cooperation, because there is none to manage energy supply emergencies.

In all of this, the financial sector, including regulators, must be aligned with government policy. For example, the former chancellor has educated financial regulators to take energy security into account in what they do: these regulators must explain how they interpret this. Any green taxonomy should avoid making projects appear green or brown, which can stifle innovation and fail to reflect the transition process.

Politicians love to talk about “united government”, but rarely do. This time we have to. If we fail to ensure that UK energy is reliable, affordable and renewable, the transition to net zero will be messy – and we will all pay the price.

2 Phenomenal Energy Companies You’ve Never Heard Of

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Because there are hundreds of publicly traded energy companies, it’s easy to overlook those that aren’t well-known or don’t stand out.

Of them energy stocks who have amassed excellent track records that have largely gone unnoticed by investors are Delek logistics partners (DKL -5.05%) and Pembina pipeline (PBA -1.23%). Here’s why investors won’t want to miss what they bring to the table.

Remarkable consistency

Delek Logistics Partners is a rather small Master Limited Partnership (MLP) formed by a relatively unknown refining company in Delek US Holdings (DK -0.04%). Since it flew under the radar of most investors, they missed its impressive growth record. The MLP has increased its distribution to investors every quarter since its inception in late 2012, bringing the streak to 37 consecutive quarters.

That’s impressive, considering most MLPs have cut payouts at least once in the past decade due to all the volatility in the energy markets. Delek avoided this fate by maintaining a solid financial profile and the support of its parent company. The company ended the first quarter generating enough cash to cover its 1.2x distribution. During that time, it had a conservative leverage ratio of 3.3 times debt to earnings before interest, taxes, depreciation and amortization (EBITDA).

While this past success doesn’t guarantee future results, Delek Logistics seems to have plenty of fuel to keep increasing its payout, which is currently earning a nice 7.9%. The company recently acquired 3Bear Energy, which will increase its near-term cash flow. This agreement should give the company the fuel to increase its payment by 5% this year. Meanwhile, Delek US Holdings still has midstream assets that it could transfer to its MLP in the future to support its continued growth. On top of that, it can complete expansion projects or make additional third-party acquisitions to drive growth. Given its strong financial profile, even after funding the 3Bear deal, MLP has the financial flexibility to continue to grow its operations and distribution in the future.

Impressive stability

Pembina Pipeline is a leader pipeline company in Canada. Given its geographic concentration, most investors south of the border have never heard of Pembina. They miss her rock solid monthly dividend, which is currently yielding more than 5%. The Canadian pipeline operator has maintained or increased its dividend every year since 1998, growing it at a compound annual rate of 5% over the past decade.

This high-yield payout is built on a very solid foundation. The company generates very stable revenues, 88% of which come from fixed-price contracts. Meanwhile, Pembina pays just over half of its cash flow in dividends. It also has a strong investment-grade balance sheet, providing additional financial flexibility.

Pembina has a wide range of expansion opportunities to fuel growth in the years to come. It has several pipeline expansions currently under construction that will provide additional revenue when they come online. The company is also constructing a power generation facility to reduce costs and greenhouse gas emissions at one of the facilities. On top of that, it has a long list of projects in development to keep growing in the future.

The company also has an excellent acquisition history. It recently agreed to form a joint venture to merge its processing assets in Western Canada with those held by a global infrastructure fund. The company plans to increase its dividend by 3.6% once it closes this highly accretive deal. With a solid financial profile and a world that still needs a lot of energy, Pembina should be able to continue expanding its operations and its dividend over the next few years.

Income-focused investors will want to know about these energy stocks

Delek Logistics and Pembina Pipeline have quietly rewarded their investors with steadily increasing dividends over the years. Both companies have the financial fortitude and growth prospects to continue to increase these dividends in the future. Income-oriented investors will want to take a closer look at these lesser-known energy stocks.

Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool recommends PEMBINA PIPELINE CORPORATION. The Motley Fool has a disclosure policy.

State’s New Energy Strategy Focuses on Affordability and Aims to Take a Market-Based Approach

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The New Hampshire Department of Energy released a long-awaited update to New Hampshire’s 10-year energy strategy last week. The document, which is updated every three years, outlines the state’s priorities for key issues such as how we get around, heat our homes and keep the lights on.

The two main thrusts of the strategy – affordability and a technology-neutral, market-based approach to energy policy – ​​have remained largely the same since its 2018 version, along with much of the language and objectives. . But the update reflects new data and industry changes, such as the growing prevalence of electric vehicles.

As New Hampshire becomes increasingly hot and humid, the state’s strategy update indicates that climate change is a real and growing issue that is tied to our energy system, unlike the 2018 document. But clean energy advocates say it lacks specific recommendations on how to address this reality.

“It seems the strategy is trying to have it both ways, recognizing that we have an environmental crisis on our doorstep, there are causes that are attributable to our energy strategy, but we’re not going to make any specific recommendations on the how we solve this crisis through our energy system and change it,” said Chris Skoglund, director of energy transition at Clean Energy New Hampshire.

Who uses this strategy?

This state energy strategy update – the first from the new New Hampshire Department of Energy – identifies principles that should guide state energy policy and “establish a framework for policy makers and stakeholders stakeholders” who engage on these issues.

“It is not part of New Hampshire law, but it is a very important document for its persuasive value. It basically lays out what I think the administration’s approach to energy is,” said New Hampshire consumer advocate Don Kreis.

What are the goals of the state?

The plan sets out 10 goals for New Hampshire’s energy policy, which are nearly identical to the goals set by the state in 2018. As many Granite Staters experience spikes in energy costs, affordability tops the list.

“Expensive energy – or the pursuit of policies that increase the cost of energy – has a direct and negative impact on New Hampshire families and businesses and the quality of life in our state. As such, the main objective of this strategy is to pursue cost-effective energy policies,” the document states.

For the purposes of the strategy, the state defines cost-effectiveness using only the basics, said Josh Elliott, director of the Department of Energy’s Policy and Programs Division.

“That’s the simple math of it. Will this investment be profitable or at least will it be neutral over the assumed life of the investment? he said, noting that the decision to include the kinds of costs caused by climate change in this calculation would be up to the legislator.

The strategy also emphasizes a market-based approach to energy, saying that government policies should avoid “preferential quotas and mandates” and that the state should support regional policies that ensure that the energy policies of other states do not impact costs in New Hampshire.

All New England states except New Hampshire have mandated greenhouse gas emission reductions to spur renewable resource development.

The strategy claims that renewable mandates and subsidy programs from other states are “creating upward pressure on electricity prices,” and the Department of Energy says there is a possibility that those costs could be passed on. on New Hampshire taxpayers.

But the report also highlights emission reductions in New Hampshire, without acknowledging that these were largely achieved through other states’ actions on climate change.

“Other states are seeing their energy consumption and therefore their energy costs drop. We benefit from a greenhouse gas perspective, but overall our state is still using the same amount of energy as before,” Skoglund said.

A market-based approach in a heavily regulated industry

New Hampshire leaders have explored a market-based approach to energy policy for the past few years, said Sam Evans-Brown, executive director of Clean Energy New Hampshire. The idea behind this approach is “if we just let the markets act, we will get cheaper electricity,” he said.

But that misses the reality that energy is already a highly regulated sector of the economy, Evans-Brown said. New England’s grid operator, ISO-NE, is responsible for designing and overseeing certain energy markets, and bodies such as state utility commissions set rules and regulations. that shape these markets. They also give a yes or no to the decisions that utility companies – the major players in the market – want to make.

Skoglund added that the current energy strategy appears to encourage the state to leave existing regulations in place.

“It’s not necessarily a free market or an open market. It’s a market that’s kind of skewed towards the old energy system,” Skoglund said. “Without identifying a direction, goals and targets, we cannot identify the kinds of policies needed to help the market move in that direction.”

Evans-Brown said there is a need to rethink the current regulatory system. The updated strategy supports such an overhaul, including a section on network modernization.

“But if you really want to put meat to the bones of this kind of general nodding, there’s still a lot of work to do,” Evans-Brown said.

In a section on siting, the strategy also outlines an overhaul of a structure that determines much of New Hampshire’s energy future: the process of choosing where new energy projects are built.

The strategy says the current committee responsible for evaluating sites has a “heavy structure” and needs work – including clarity on jurisdictional issues and “a consistent and well-informed membership”.

What about transportation and heating?

Transportation and home heating account for the largest share of New Hampshire’s greenhouse gas emissions, and climate action advocates have stressed the need for progress in these areas.

A major change reflected in the update is the adoption of electric vehicles over the past three years across the country.

The Department of Energy has stressed that building electric vehicle charging infrastructure should come from federal funds rather than taxpayer dollars, and that some of those investments should be focused on rural areas that may not not attract private companies to install chargers.

As more people use electric vehicles, the strategy also highlighted the need to develop different electricity rate structures that reflect the changing cost of charging these vehicles over time. During off-peak hours electricity is cheaper, but charging during peak hours – when people come home from work, turn on the lights or cook – would cost more.

In terms of heating, the strategy says the use of heat pumps, wood and renewable natural gas will likely increase due to “carbon reduction efforts,” but does not specify who those efforts will be aimed at. .

“Replacing heating systems is a huge cost to homeowners and business owners. State and local policies should not force the early, uneconomical replacement of these systems or unreasonably interfere with a home or business owner’s choice of fuel source,” the document states. .

How does this strategy address climate change?

The Intergovernmental Panel on Climate Change has made it clear that urgent change is needed to reduce greenhouse gas emissions and protect humans from increasingly devastating levels of global warming. We have the tools to limit global warming, says the IPCC, including energy-generating technologies that don’t emit the greenhouse gases that cause climate change.

The cost of these technologies is also falling, although in New Hampshire, the Department of Energy says, they are not yet able to compete on a large scale. The strategy argues that the government should be technology neutral when developing its energy policy.

“The most effective way to reduce emissions and protect our natural resources from climate change is to achieve a market where low-emission resources are economically competitive without government mandates or subsidies,” the strategy states.

While the document acknowledges the reality of climate change, the steps New Hampshire leaders need to take to address it remain unclear, clean energy advocates said.

The Department of Energy says renewables will continue to grow in importance and that “market selection” should drive investment in these resources.

“Rapid changes in public policies are difficult, and care must be taken when changing policies and incentives that impact existing investments and resources,” the strategy says, but notes that the use of policies to allow older technologies to “freeze out competition” is not acceptable, and that some newer technologies could be “wise investments in the near future when cost curves are more competitive”.

But, the paper says carbon-based fuels “will likely remain the most important overall fuel type in New Hampshire’s resource mix for decades,” and says policies should let existing resources compete for shares of market.

These articles are shared by partners of The Granite State News Collaborative. For more information, visit collaborativenh.org.

These tips can help you save energy this summer

As the San Antonio area experiences record summer temperatures and high energy demand, CPS Energy officials say conservation can help you manage your energy bills and keep the lights on across the state.

CPS Energy recently launched a color-coded conservation level notification program. This program outlines actions you can take for daily conservation and during peak days of energy demand.

The program also provides advice on what to do if the reliability of the national grid is threatened. The program features four color-coded energy conservation levels, guiding customers through simple conservation tips related to expected energy demand.

Every day, CPS Energy will communicate the level of conservation through the company’s website, electronic bulletin boards, social media and other public awareness efforts.

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CPS officials say most days will be green days, calling for daily conservation action. If additional conservation is required during peak hours of energy demand, CPS Energy will raise the status to a yellow day. Amber and red alerts will only be issued if the Electric Reliability Council of Texas (ERCOT), the statewide grid operator, declares that grid reliability is at risk.

The new conservation program is part of a community-wide “Beat the Heat” partnership to raise awareness of how everyone can stay safe, conserve energy and water and save money, said officials from CPS Energy.

Here are some tips to help you conserve your energy this summer:

  • Set thermostats 2-3 degrees higher; set programmable thermostats to higher temperatures (up to 85 degrees) when no one is home. CPS Energy states that the optimum energy-saving temperature is 78 degrees.

  • Use fans to feel 4-6 degrees cooler.

  • Set pool pumps to run early in the morning or at night; stop from 2 p.m. to 7 p.m.

  • Turn off and unplug non-essential lights and appliances.

  • Avoid using large household appliances (i.e. ovens, washing machines, etc.), especially during peak hours of energy demand.

  • Perform pre-summer maintenance, including having your HVAC system inspected by a licensed professional and making sure your home is properly weatherized.

May and June brought record heat for the region, and South Texas continues to experience hot summer temperatures. According to CPS officials, power demand is at an all time high – ERCOT broke at least half a dozen peak power demand records this summer.

Visit cpsenergy.com to see today’s energy conservation level, learn more about conservation levels and alerts, and find Beat the Heat tips to save energy and money. Customers can call CPS Energy at (210) 353-2222 for help with billing or payment terms or visit an upcoming event listed here.

Hydrostor Announces Addition of Energy Veteran Executive

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Toronto, Canada, July 22. 12, 2022 (GLOBE NEWSWIRE) — Hydrostor Inc. (“Hydrostor”), a leading provider of long-term energy storage solutions, today announced the appointment of Judith (Judi) Johansen as a member independent of the board of directors.

Ms. Johansen joins Hydrostor with extensive experience in the energy sector. Between 2001 and 2006, she was President and Chief Executive Officer of PacifiCorp, where she was responsible for regulated power generation, wholesale energy services, mining, transmission and distribution businesses. Prior to PacifiCorp, she held executive positions at Bonneville Power Administration and Avista Energy (formerly Washington Water Power). Ms Johansen was also an executive director at Scottish Power between 2003 and 2012.

Ms. Johansen holds a BA in political science and a JD in law and currently sits on the boards of several organizations, including the publicly traded power company, IDACORP.

“We are very pleased to have Judi join our board of directors,” said Curtis Van Wallenghem, Hydrostor’s president and CEO. “His experience in the energy sector in North America and Europe will be extremely valuable as Hydrostor continues to develop its pipeline of advanced compressed air energy storage projects globally. Judi is also a great cultural complementarity with a real passion for leading the energy transition.

About Hydrostor

Hydrostor is a long-duration energy storage solutions provider that provides reliable and affordable integration of long-duration energy storage, enabling grid operators to scale renewables and secure grid capacity. Hydrostor supports the green economic transition by employing people, suppliers and technology from the traditional energy sector to design, build and operate emission-free energy storage facilities. Hydrostor has developed, deployed, tested and demonstrated that its patented Advanced Compressed Air Energy Storage (“A-CAES”) technology can provide long-lasting energy storage and enable the transition to renewable energy. A-CAES uses proven components sourced from mining and gas operations to create a scalable energy storage system that is low impact, cost effective, has a lifespan of over 50 years and can store energy from 5 hours to several days if necessary. With backing from Goldman Sachs Asset Management, CPP Investments and BDC Canada, Hydrostor has projects around the world in various stages of development to deliver capacity in excess of 200 MW each.


        

Centrica’s top investors say energy group must restore dividend

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Major Centrica shareholders are calling on the British energy group to restore its dividend when results are announced next week, even as households face another sharp rise in their energy bills.

The company behind British Gas, the UK’s biggest energy supplier, suspended its dividend at the height of the first wave of Covid in 2020. But it is now under pressure to resume payments to investors after racking up a net cash of £700m from divestitures such as the sale of its US operations in 2021.

“Reinstatement of the dividend is an absolute necessity as it has been a long and difficult recovery for this business for shareholders,” one of the top 10 investors told the Financial Times.

Another investor said shareholders had “long awaited the reinstatement of the dividend and, aside from this year, endured a strong share price underperformance.”

Centrica benefited from high commodity prices; it still owns gas generating assets in UK waters and a 20% stake in the current fleet of UK nuclear power stations. Its performance has improved under chief executive Chris O’Shea, who replaced Iain Conn in 2020, with its share price gaining 76% in the past year.

However, any move to reinstate a payout to investors at a time when customers are facing an acute cost of living crisis would be politically difficult.

Another shareholder said the company should be “careful with messaging, at a time when everyone’s energy bills are rising”.

Households face another painful rise in their energy costs in October, when the UK price cap – which dictates the bills of 23 million households – is set to rise another 65% to more than £3,200 a year on average . Ofgem, which sets the cap, will announce the new level in August.

Analysts expect O’Shea to restore the dividend to a “modest” level when the company reports first-half results on July 28. The average analyst forecast points to an interim dividend of 0.75 pence per share and a full-year payout. 3.3p, compared to 3.5p in 2019.

Investec analyst Martin Young forecasts adjusted operating profit of £1.3 billion for the first half, including the final contribution from Centrica’s Norwegian oil and gas assets, which were sold in May .

O’Shea has waived a £1.1m bonus payment this year. He is expected to point out next week that Centrica has around 500,000 retail investors – a legacy of when British Gas was privatized in 1986 — which would benefit from a restored dividend.

However, Simon Francis, coordinator of the End Fuel Poverty Coalition, said that while the energy market was “a complex beast”, it was not “fair” for energy companies and their investors to “profit while millions of families face a very real choice between using energy or putting food on the table.

Centrica struggled during Conn’s five-year tenure with profit warnings, massive job cuts and steep losses, after failing to stem a wave of customer defections to cheaper rivals that offered discounted offers. The company fell short of ambitious revenue targets for new products such as home appliances.

However, it has benefited from the collapse of more than 30 rival energy suppliers over the past 18 months as rivals’ cut-price deals ultimately proved unsustainable.

Centrica, which declined to comment on the possible reinstatement of the dividend, has added around 750,000 customers since the start of January 2021 by rescuing those from collapsed competitors via Ofgem’s “provider of last resort process”.

Uranium Energy Corp Announces Annual General Meeting Results

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CORPUS CHRISTI, Texas, July 21, 2022 /PRNewswire/ – Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) is pleased to announce that, in conjunction with the holding of the Company’s recent annual general meeting of shareholders on July 21, 2022 (the “AGM”), the following motions were duly ratified by the shareholders of the Company as follows:

  • Amir Adnani, spencer abraham, Vincent Della Volpe, David Kong, Ganpat Mani and Gloria Ballesta have been elected to the Board of Directors of the Company;
  • PricewaterhouseCoopers LLP, Chartered Professional Accountants, has been appointed as the company’s independent registered public accounting firm;
  • the company’s 2022 stock incentive plan was approved; and
  • the remuneration of the Company’s officers was approved

Each of the above proposals has been approved by at least 90% of the shareholders of the Company who voted at the AGM and, in most cases, by at least 95% of the shareholders of UEC; the exact details of which will be provided by the Company in a current report filing on Form 8-K which will be made shortly.

Following the AGM, the following officers of the Company were reappointed by the Board of Directors of the Company:

Amir Adnani: President and CEO;

Pat Obara: Secretary, Treasurer and Chief Financial Officer; and

Scott Melbye: Executive Vice President.

About Uranium Energy Corp

Uranium Energy Corp is the fastest growing leading uranium mining company in the United States, listed on the NYSE American. UEC is a uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (ISR) uranium mining projects. The company has two production-ready ISR hub and spoke platforms in south texas and Wyominganchored by a fully licensed and operational processing capability at the Hobson and Irigaray plants. UEC also has seven US ISR uranium projects with all of their major permits in place. In addition, the Company has other diversified holdings of uranium assets, including: (1) one of the largest portfolios of physical uranium U stored in the United States3O8; (2) a significant stake in the industry’s only royalty company, Uranium Royalty Corp. ; and (3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The Company’s operations are managed by professionals with a recognized profile of excellence in their industry, a profile based on several decades of practical experience in the key facets of mineral exploration, development and extraction. uranium.

Stock market information:
US NYSE: CUE

WKN: AØJDRR
IS number: US916896103

Safe Harbor Statement

Except for statements of historical facts contained herein, the information set forth in this press release constitutes “forward-looking statements” as that term is used in United States and Canadian securities laws. These statements relate to analyzes and other information that are based on forecasts of future results, estimates of amounts not yet determinable and management’s assumptions. Any other statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or indicating that certain actions, events or results “could”, “could”, “could”, “could” or “will” be taken, occur or be carried out) are not statements of historical fact and should be considered as “statements prospective”. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. prospective. These risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with estimating or realizing mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry, including but not limited to those associated with the environment, delays in obtaining governmental approvals, permits or financing or in completing development or construction activities, title disputes or limitations of claims on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause the actions, events or results are not those intended, estimated or intended. Many of these factors are beyond the Company’s ability to control or predict. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release and any document referred to in this press release. Important factors that could cause actual results to differ materially and could affect the company and the statements contained in this press release can be found in the company’s filings with the Securities and Exchange Commission. For the forward-looking statements contained in this press release, the Company claims safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update or supplement forward-looking statements whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

SOURCEUranium Energy Corp

Shell van Beurden boss: “Supply must adapt but to less demand”

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For the first time in nearly a decade at the helm of Europe’s biggest oil and gas company, Shell CEO Ben van Beurden feels he is being listened to.

The commodity shock triggered by the war in Ukraine has pushed European officials to better understand the global energy system and secure new sources of supply. Some of them ended up on Shell’s doorstep.

“On issues of energy security, energy balance sheets, investment levels, I’ve never had such good discussions with governments as we have today,” van Beurden told the Financial Times.

In the UK, Shell is being asked to produce more gas in the North Sea. In Germany, it is in talks to help operate and supply one of the country’s largest refineries should it be cut off from Russian oil.

Renewed engagement with previously shunned supermajors represents a major shift from last year, when Shell was ordered by a Dutch court to cut emissions, and oil and gas companies were barred from the climate meeting COP26 in Glasgow.

Shell has appealed the court’s decision, sparking heavy criticism from environmental groups who say it should have recognized the impact of fossil fuels much earlier and is doing far too little to change course. At its annual meeting in London in May, protesters interrupted proceedings for three hours.

In an interview at Shell’s London headquarters, van Beurden argued that governments had too often set emissions targets without a plan for how to achieve them and pushed for cuts in oil and gas production without taking measures to curb consumer demand.

“As long as society believes that by starving [fossil fuel] supply, you’re kind of forcing demand down as well, that’s not a sustainable way to approach the energy transition,” the 64-year-old said. “The supply must adjust, but it must adapt to less demand.”

Since van Beurden succeeded Peter Voser as chief executive in January 2014, oil prices have crashed twice, world leaders have passed the historic Paris climate accord and more than 1,500 institutions are committed to selling fossil fuel stocks.

In response, Shell said last year that its oil production had peaked and that it would halt oil and gas exploration in new markets after 2025. It pledged to reduce emissions from its own operations by 50% by 2030 and to net zero by 2050, while reducing, albeit less rapidly, the carbon emitted when burning the fuel it sells.

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Will European demand for alternatives to Russian fossil fuels prompt a reversal of these commitments? “Absolutely not,” van Beurden said. Instead, he believes governments’ renewed focus on energy policy and energy security will help Shell move “faster”.

Rather than being seen as an oil and gas major, van Beurden now favors an “energy transition company” but, like its peers, Shell is struggling to convince investors it can deliver the transformation.

The company’s share price is up 25% this year, but is still down about 6% since van Beurden took the top job. BP is down 21% over the same period.

While BP has pledged to cut oil production by 40% by 2030 and develop 50 gigawatts of renewable energy, Shell’s so-called Powering Progress strategy is less prescriptive and instead focuses on how it will help customers to decarbonize. Rather than build a collection of wind farms or solar power plants and hope to sell the electricity generated, van Beurden said Shell’s approach would be to start with each customer and provide the low-carbon solutions that he needs.

For now, clean energy is part of Shell’s business. Its integrated upstream oil and gas divisions generated more than 80% of Shell’s record $9.1 billion adjusted profit in the first three months of the year. Renewables and energy solutions accounted for $344 million, or less than 4%.

Shell says it has recruited nearly 1,000 people into this part of the business. But it has also had high-profile departures and, unlike BP, still does not have anyone with renewables experience on the executive committee.

Elisabeth Brinton, head of the renewable energy and energy solutions division, left Shell in February after three years with the company. Senior green energy appointments from investment bank Macquarie and solar group Lightsource BP have also come and gone over the past two years.

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A former executive said overhauling Shell’s 82,000 employees to deliver the energy transition would be its biggest challenge. “Business can make the transition, but people can’t,” the executive said.

Van Beurden said he has no concerns about staff turnover in the renewable energy division. The appointment of a renewable energy specialist to the executive committee would have seemed like a “symbolic change” at a time when the business generated only a small fraction of the group’s profits, he added.

Having spent his entire 39-year career at Shell, van Beurden’s focus since 2014 has been on improving performance, he said. “What I’ve always felt is this company…always a little below its potential.

Four months into his job, he proposed that Shell, then the world’s largest liquefied natural gas trader, acquire the second-largest BG Group. The $52 billion acquisition – the biggest in Shell’s history – has left Shell with around 15% of the global LNG market as demand for the fuel soars. It also provided van Beurden with an excuse to streamline other parts of the business. “It’s very difficult to shrink to grow, but to grow and then to improve is much easier,” he said.

Seashell under Ben van Beurden

$22-27 billion

Annual capex – down from $50 billion in 2014 (BG and Shell combined)

One way to boost Shell’s energy transition strategy today would be to do the same thing again, but this time – using money from soaring oil and gas prices – acquire a major renewable energy company .

But a deal the size and impact of the BG takeover would be difficult, he said. “I deliberately refrained from doing big things in this space to make sure we know how their business works first.”

Bankers like to suggest that Shell could buy Danish power company Orsted or Germany’s renewables-focused RWE. Although van Beurden said no deal was likely, he added that Orsted in particular would not fit in with Shell’s customer-focused plans. “I would be more inclined to think of an RWE with a clientele than an Orsted with a collection of wind farms.”

Shell’s preference has been to acquire mid-sized power companies around the $1 billion mark, he said. In April, it bought Indian renewable energy group Sprng Energy from Actis for $1.55 billion.

Going forward, Shell will sell more of its oil assets and use the proceeds to fund other energy transition deals. Oil prices have been above a seven-year high all year, but it’s getting harder to judge when to divest to get the best value, he said. “It’s a bit like trying to catch a knife that falls at that moment.”

In the absence of a major acquisition, billions of dollars will continue to be returned to shareholders. Shell has already made $8.5 billion in share buybacks this year. “If you can extrapolate a little bit what may come next, we can buy out a very significant part of the business,” he said.

Although Shell insists van Beurden is not expected to step down, few Big Oil CEOs have served much longer than 10 years and, according to people familiar with the details, the board has started discussions with potential internal candidates last summer.

When he finally leaves, he wants to have added value for shareholders but also to have done “the right thing” as a citizen, he said, insisting he was still comfortable with Shell’s much-criticized decision to challenge the Dutch court ruling. “For me personally, this has absolutely been a leitmotif: the things I need to stand up to scrutiny in the future.”

City and county approve 15 SPET articles to appear on November ballot

JACKSON, Wyo.– Jackson City Council and the Teton County Board of Commissioners met Monday to finalize SPET ballots. The ballot resolution is due with the county clerk today.

Fifteen SPET articles were approved to appear on the ballot in November. A total of 18 SPET applications were submitted in April.

The final item, $1.93 million in funding for an assisted living facility for seniors, was added at Monday’s meeting.

The two bodies agreed to cut community housing funding from $25 million to $20 million and conducted a number of mock polls on items to cut funding, all of which ultimately failed.

Commissioner Mark Barron was the only one to vote against the proposed SPET items, sharing concerns about the amount of money allocated to each item. “We have to match some of that,” he said, suggesting bringing the total closer to $125 million.

He suggested cutting a number of items, including $10 million for city employee housing, $10 million for county employee housing, $8 million for land conservation opportunities in the Teton County, as well as reducing some of the funding amounts for items.

SPET, as a reminder, is a penny sales tax approved by voters and paid by visitors and residents on most goods and services, with the exception of unprepared food.

The SPET items total $166,435,139 and will appear on the ballot as follows with an option to vote for or against each proposal:

  • Improvements to Teton Youth and Family Services facilities: “$2,000,000 for the design, construction, upgrade, renovation, reconstruction and improvement of existing Teton Youth & Family Services facilities at Hirschfield Center, Van Vleck Group Home and Red Top Meadows. This project is sponsored by Teton County.
  • Transportation alternatives and safe routes to school: “$15,000,000 for projects to improve transportation alternatives in Teton County and the City of Jackson, including the planning, design, engineering, and construction of pathways and sidewalks for safer routes to school, travel and recreation, as well as Stilson-n-ride Transit Center and Park and the purchase and installation of transit priority traffic lights and other transit infrastructure All unspent funds, including unused contingency funds, will be placed in a designated account, the principal and interest of which will be used for the operation and maintenance of these projects.”
  • St. John’s Health Housing“$24,000,000 for the planning, design, engineering and construction of rental housing for the workforce, as well as overnight accommodations for on-call hospital staff and patients/families. This project is sponsored by the City of Jackson.
  • Wyoming College Central Campus: “$10,000,000 for the planning, design, engineering and construction of a permanent campus of approximately 21,000 square feet to provide higher education opportunities in areas such as health, education Early Childhood, Hospitality and Language for Central Wyoming College in Teton County This project is sponsored by the City of Jackson.
  • Energy saving work projects: “$5,000,000 for funding community solar power generation and/or other local renewable energy; alternative fuel transportation projects; energetic audience; planning, design and construction of energy conservation and emission reduction projects. This project is sponsored by the City of Jackson.
  • Teton County Land Conservation Opportunities“$8,000,000 for the Teton County Scenic Preserve Trust to acquire interests in state trusts or private lands to conserve wildlife habitat, protect open space, protect historic agricultural uses, protect scenic values ​​and protect public access. This project is sponsored by Teton County.
  • Jfire station ackson Hole Fire/EMS“$15,000,000 for the planning, design and construction of a new fire station in Hoback and/or Wilson and for the demolition of the existing station(s) that will be replaced. This project is sponsored by Teton County.
  • Teton County School District Bronc Success Center: “$16,505,139 for the design, construction and outfitting of a new school facility that will include indoor recreational space for community youth sports programs, university classrooms and laboratories. This project is sponsored by Teton County.
  • Teton County School District Employee Housing: “$16,000,000 for the planning, design, engineering and construction of multi-family housing for employees of the Teton County School District. This project is sponsored by the City of Jackson.
  • City of Jackson Sidewalks and Pedestrian Accessibility: “$3,000,000 to improve walkability and accessibility in the City of Jackson, including the planning, design, construction, replacement and installation of sidewalks, accessibility features that comply with U.S. law on persons with disabilities, safety features for pedestrians and cyclists, mobility and wayfinding signs.This project is sponsored by the City of Jackson.
  • Teton County Water Quality Projects: “$10,000,000 to fund water quality projects that will protect and improve surface and ground water resources in Teton County, such as the Wilson Sewer Project, the Pollution Prevention Project for City of Jackson stormwater and projects to be identified in the Teton County Water Quality Master Plan. This project is sponsored by Teton County.
  • City of Jackson Employee Housing: “$10,000,000 for the purchase of land and the planning, design, engineering and construction of rental housing for City of Jackson employees. This project is sponsored by the City of Jackson.
  • Teton County Employee Housing“$10,000,000 for the purchase of land and the planning, design, engineering and construction of rental housing for Teton County employees. This project is sponsored by Teton County.
  • Community housing: “$20,000,000 to preserve and create permanent affordable and labor-intensive housing for local workers and their families. This can be accomplished through the purchase of deed restrictions and/or land interests upon which to design, plan, develop, design, construct deed restricted housing in accordance with the Jackson & Teton County Housing Supply Plan . Jackson City Council and the Teton County Board of Commissioners must authorize and direct the expenditure of these funds. This project is sponsored by Teton County.
  • Senior Center of Jackson Hole-Senior Assisted Living Planning:“$1,930,000 to engage professional services to conduct and deliver a needs assessment, feasibility study and proposed options for establishing assisted living facilities for the elderly in Teton County, which may include conceptual design. This project is sponsored by Teton County.

New study from Bain & Company shows electric vehicles poised to reshape auto industry faster than expected

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Bain expects the U.S. electric vehicle charging industry’s profit pool, Europe and China reach 13.5 billion euros by 2030

BOSTON, July 20, 2022 /PRNewswire/ — New search for Bain & Company shows that electric vehicles (EVs) are poised to reshape the automotive and mobility industries faster than expected. Bain expects the U.S. electric vehicle charging industry’s profit pool, Europe and China increase to €13.5 billion by 2030, including up to €6 billion from the United States, up to €5 billion from the European Union (EU) and up to to 2.5 billion euros from China.

Countries around the world have already introduced ambitious green energy targets and supported the transition to electric vehicles. Now the Ukraine the war accelerated these efforts and prompted many governments to further reduce their dependence on Russian oil and gas. The charging infrastructure and services critical to the adoption of battery-powered electric vehicles (BEVs) is a huge and strategic new business opportunity.

“The next decade will be unprecedented for the electric vehicle charging ecosystem worldwide,” said Lucas Martin, partner at Bain & Company. “Future winners are moving fast and partnering to secure the best digital locations and platforms to deliver a seamless charging experience. These leaders navigate market uncertainties by designing scenario-based strategies that allow them to pivot quickly when consumer behaviors or regulations change.”

Where to compete

In the short term, the investments will be used to build the necessary infrastructure. In transit pricing, profitability will depend on the ability to achieve high utilization rates. Winning in this sector will require massive investment in a network of convenient, reliable and fast charging stations (over 150 kilowatts) that provide an excellent customer experience.

Going forward, the largest pool of benefits for home and work charging is likely to be related to next-generation smart energy services, including vehicle-to-grid and vehicle-to-home charging. These services will account for about a third of the total profit pool by 2030, becoming increasingly important as the volume of solar and wind energy increases. These services allow power companies to harness the storage capacity of car batteries to better balance supply and demand.

Regional differences

Electric vehicle charging markets in Europethe United States and China will differ depending on the share of electric car sales, local driving and charging habits, predominant housing type and market regulations. By 2030, for example, BEVs are expected to account for 55% of total car sales in Europecompared to 40% in China and 32% in the United States.

The predominant housing type in a specific market is another important factor influencing charging solutions. For example, the market for charging products for single-family homes will be larger in the United States, where 82% of the population lives in single-family homes, compared to 60% in the EU and 37% in the relevant urban regions of China.

Regulation will also play an important role in the development of the market for smart energy services. The complex patchwork of state-by-state rules in the United States will significantly affect vehicle-to-network service strategies and could slow widespread adoption. The EU aims to create a policy framework to improve energy storage and develop services, while China market will remain highly regulated and concentrated. These conditions are likely to accelerate the development of smart energy services.

Charging occasion

“As companies and investors consider where to play and how to win in the electric vehicle charging ecosystem, it will be critical to understand how the demand for different charging occasions and the regulatory landscapes differ by region today and in the future. the future,” said Eric Zayer, partner at Bain & Company. “While consumers in suburban areas of the United States and Europe will be able and will want to charge at home, consumers who live in dense urban areas, such as in Chinawill be forced to charge more in other places, such as work, in destinations such as restaurants or in transit.”

  • Transit tax: High-speed transit charging stations require heavy capital outlay – $30,000 for $150,000 per unit. Reliability, convenience, and a differentiated customer experience, like Wi-Fi service and quick-service restaurants, will be critical to success.
  • Home charging: Home charging winners will prioritize easy installation, affordable pricing, and bundles with an EV purchase. Homeowners will also seek benefits for their overall home energy management system, including the ability to save electricity and protect against power outages.
  • Loading at destination: What matters most in destination charging is selecting high-traffic locations, such as supermarkets or restaurants, and the right type of charger to match the amount of time consumers typically spend there. As with public transport pricing, destination charging stations must be extremely reliable and offer competitive prices.
  • Workload : Offices and other workplaces require easy-to-use, inexpensive chargers. Employers have the option of offering this access as a benefit to employees. In some industries, there is a need to recharge fleets of light commercial vehicles and buses. These large-scale depots often need to be equipped for overnight charging and able to work with power grid operators and utilities.
  • Smart energy services: Next-generation smart energy service providers will need to offer utilities access to enough parked cars to create a powerful reserve of energy that can balance grid demand. They must also provide smart home or facility devices and an extensive and secure computing platform for smart charging. This includes powerful cloud-based software that can help predict how many cars will connect to the network and what time they will access the service. Leaders will work with grid operators to help them use electric car charging to stabilize the grid system.

Editor’s note: For more information or interview requests, please contact Katie Ware at [email protected] or tel. +1 646-562-8107.

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious changemakers shape the future.

In 65 cities in 40 countries, we work alongside our clients as one team with a common ambition to achieve extraordinary results, outperform the competition and redefine industries. We complement our integrated and personalized expertise with a vibrant ecosystem of digital innovators to deliver better, faster and more sustainable results. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise and knowledge to organizations tackling today’s pressing challenges in education, racial equity, social justice, economic development and the environment . We have achieved a gold rating from EcoVadis, the leading environmental, social and ethical performance rating platform for global supply chains, placing us in the top 2% of all companies. Since our founding in 1973, we have measured our success by the success of our customers, and we proudly maintain the highest level of customer advocacy in the industry.

SOURCE Bath & Company

1 bear market buy to earn $1,000 in passive income

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This bear market is a gift for value seekers. You can find so many good stocks on the TSX today it is true. But investing in individual stocks can be expensive and frankly quite risky. But what if you don’t want to miss out on anything, but still want to earn passive income?

Enter the infrastructure

I would look at the infrastructure sector right now. No matter what, infrastructure is still needed. Phone lines, energy assets, roads, sewers, all those necessities we take for granted are powered by infrastructure companies. And that means they’re also backed by the government, with projects that won’t be canceled in the short term.

But here is the challenge. Many companies active in the infrastructure sector rely solely on a of these areas. Maybe they just do energy, or roads, or phones – you get the picture. So how can you participate in all of this? Better yet, how can you get great returns, as well as passive income through dividends?

Consider an exchange-traded fund

An exchange-traded fund (ETF) is a great option. Not only could you get a diverse set of infrastructure assets, but you overall those too. For this I would consider the BMO Global Infrastructure ETF (TSX: ZGI). The company has major investments in everything from pipeline companies like Enbridgeto cell tower companies like International Crown Castle, and all the rest. You can earn income from all those stable stocks, worry-free.

Why? Because you pay a small management fee to allow someone other to worry about investing in this gigantic sector for you. These are the experts who manage this low volatility ETF. An ETF whose shares have remained stable this year, and up 10% last year. And right now, it’s offering a dividend yield of 3.34%.

Make that thousand

With stocks hovering around the same price as at the start of 2022, now is a great time to buy stocks for a future boost. Stocks have risen 176% over the past decade, recording a compound annual growth rate (CAGR) of 10.69%.

But instead of looking at how long it will take you to make those returns, let’s see how much it would take to create $1,000 of passive income. To achieve this, let’s look at the dividend yield of 3.34%. It’s $1.32 per share annually. So to create $1,000 every year would be like investing in 758 stocks at a cost of $32,450 on the Toronto Stock Exchange today.

Not only is this dividend income guaranteed, but you can expect it every year beyond the returns, but it should also increase! In fact, the dividend has grown at a CAGR of 9.35% over the past decade. So if you were to invest that $32,450 today and see the same growth, in just five years, you could have a portfolio worth $61,417 by simply reinvesting your dividends. It’s almost double your initial investment, all from a safe, passive income-generating stock.

Conquest Resources opts for the Golden Rose project to Atha Energy Corp.

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Toronto, Ontario–(Newsfile Corp. – July 19, 2022) – Conquest Resources Limited (TSXV: CQR) (“Conquest“or the”Company“) announces that it has entered into an agreement pursuant to which it has granted an option to Atha Energy Corp. (“Atha“) to acquire up to 100% undivided interest in the mining leases known as the Golden Rose Property located in the mining district of Sudbury, Ontario. To fully execute the option, Atha must issue a total of 1 500,000 shares of Atha and make cash payments of $1,000,000.00 over a period of 36 months. Atha has also agreed to earn a net smelter return of 1.0% on the Golden Rose project.

ABOUT CONQUEST

Conquest Resources Limited, incorporated in 1945, is a mining exploration company exploring for base metals and gold on mineral properties in Ontario.

Conquest owns a 100% interest in the Belfast – Teck Mag project, located in the Temagami mining camp at Emerald Lake, approximately 65 kilometers northeast of Sudbury, Ontario, home to the former Golden Gold Mine. Rose and rests on the very promising greenstone geology of the Abitibi. over a longitudinal extent of seventeen (17) kilometers.

In October 2020, Conquest completed the acquisition of Canadian Continental Exploration Corp., which owns a large set of mining claims that surround Conquest’s Golden Rose mine, and subsequently doubled its land holdings in the Temagami mining camp through staking of 588 mining cells, encompassing approximately 93 km², centered on Belfast Township, bordering the Temagami magnetic anomaly.

Conquest now controls over 300 km2 of underexplored territory, including the former Golden Rose mine at Emerald Lake, located in the Temagami mining camp.

Conquest also owns a 100% interest in the Alexander gold property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake gold camp on the significant regional “Mine Trend” structure. The Conquest property is almost entirely surrounded by Evolution Mining land holdings.

In addition, Conquest owns a 100% interest in the Smith Lake gold property of six patented claims and 181 staked mining claims north, west and south of the former Renabie gold mine in Rennie Township. in northern Ontario, operated by Corona and Barrick which had reported gold production of over 1,000,000 ounces between 1947 and 1991 (Northern Miner, March 4, 1991).

FOR MORE INFORMATION, CONTACT:

[email protected]
www.conquestresources.com

Tom Obradovich
President and CEO
416-985-7140

Forward-Looking Statements. This press release may include certain “forward-looking statements”. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the completion of the Acquisition and Consolidation, the release of escrowed funds, future cash, potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest’s expectations are the exploration risks detailed here and from time to time in Conquest’s filings with securities regulators. Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131263

Tesla HVAC system still on future product list: Elon Musk

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Talk of a Tesla HVAC system hasn’t been talked about in quite a while, but Elon Musk recently confirmed that it’s still on the future product slate.

On Monday, Tesla shareholder Owen Sparks asked Elon Musk to make a home HVAC with HEPA filter to help with allergies. The Tesla CEO responded to Sparks, commenting that an HVAC system is especially important in places like Austin, which have “an upper level amount[s] of pollen in the air.

During a 2020 earnings call, Elon Musk explained Tesla’s plan to enter the residential and/or commercial HVAC market. He said he was excited about the development of an HVAC system with hospital-grade particulate filtration. Musk pointed out that Tesla has already achieved such a system in its Model S and Model X cars. Tesla Chief Financial Officer Zachary J. Kirkhorn added that Model 3 and Model Y vehicles have filtration capable of MERV 16 or 15. .

“So taking all of these things that we learned and applying them to what HVAC would be, and commercial HVAC would be just very exciting. And then if you condense water, like why not have some water sources as well, if you have water then you could heat the water and also have a water heater,” Elon Musk concluded. .

At the end of the fourth quarter of 2021, Musk hinted that Tesla was developing a package of HVAC, energy storage, solar and hot water for homeowners.

Lars Moravy, vice president of vehicle engineering at Tesla, noted that integrating these systems into a home is no different from doing so in a vehicle. And senior vice president of powertrain and energy engineering Drew Baglino pointed out that integrating these systems into a car is more complicated.

“But, you know, obviously those systems are all disparate, and what we’ve done with Powerwall and solar charging is integrating them more and more. The next logical step is obviously the HVAC, water and heating. So we’re going to do it and we’ll probably integrate it better than anyone. But, as you said, we have a lot on our plate,” Moravy said.

Currently, the company is working on many projects, including the Cybertruck, Semi, Roadster and Optimus. Additionally, Tesla continues to ramp up production at Giga Berlin and Giga Texas. Meanwhile, Tesla Energy is working on fulfilling Megapack orders and the new Megapack factory. It’s unclear when Tesla will officially unveil an HVAC system.

The Teslarati team would appreciate hearing from you. If you have any advice, contact me at [email protected] or through Twitter @Writer_01001101.

Tesla HVAC system still on future product list: Elon Musk






FSI announces its revenue for the second quarter of 2022

VICTORIA, BRITISH COLUMBIA, July 18, 2022 (GLOBE NEWSWIRE) — FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-SOULFADN: FSI, FRANKFURT : FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally friendly water and energy conservation technologies. Today, the company announces a year-over-year increase in revenue for the second quarter (Q2) 2022.

Sales increased in Q2 2022 compared to Q2 2021. Flexible Solutions revenue increased from $8.535 million (Q2 2021) to $11.125 million (Q2 2022), up approximately 30% from one year to the next.

Dan O’Brien, CEO, said, “We are pleased with the second quarter and year-to-date revenue. We will do our best to continue this positive trend in the second half of 2022.”

Full financial results will be available on August 15, 2022 along with the Company’s quarterly filings with the SEC. A conference callI will take place at 8:00 a.m. Pacific Time, 11:00 a.m. Eastern Standard Time on Tuesday, August 16. To see the ISF August 152022 finance press release for the telephone numbers.

About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products using thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are made from the common biological amino acid, L-aspartic, and have a wide use, including scale inhibitors, detergent ingredients, water treatment, and water improvement. cultures. Along with TPA, this division has also started producing other crop enhancement products. The other divisions manufacture energy and water saving products for drinking water, agriculture, industrial markets and swimming pools worldwide. FSI is the developer and manufacturer of WaterSavrMT, the world’s first commercially viable water evaporation retarder. WaterSavrMT reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow-moving rivers. Heat savingMTa “liquid cover” evaporation retardant for the commercial pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Layout
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Some of the statements contained herein, which are not historical facts, are forward-looking statements regarding events, the occurrence of which involves risks and uncertainties. These forward-looking statements may be influenced, positively or negatively, by various factors. Information regarding potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.

International flexible solutions
6001 54e Avenue, Taber, Alberta, CANADA T1G 1X4

Company details

Jason Bloom
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: [email protected]

If you have received this press release in error or wish to be removed from our list of updates, please reply to: [email protected]
To learn more about flexible solutions and our products, please visit www.solutionsflexibles.com

Achieve Partners Announces Sale of Pioneering Technical Personnel Recruitment Company

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A&M Capital Partners acquires Genuent amid growing demand for new approaches to address the persistent IT talent shortage

NEW YORK, July 18, 2022 /PRNewswire/ — Achieve Partners today announced the sale of Genuent, an industry-leading technology staffing company that recently recognized by ClearlyRated as one of North America best agencies for both its clients and its consultants, to A&M Capital Partners (AMCP). Genuent also recently announcement a merger with TekPartners, a subsidiary of P2P Staffing Corporation (“P2P”), to form a new combined company called INSPYR Solutions. AMCP had previously acquired a majority stake in P2P from its founders in December 2021.

“Achievve has been a great partner throughout our growth. Their pioneering vision for education and training has accelerated new approaches like Genuent’s, designed to help fast-growing tech companies find the talent they need,” said kip wright, who served as CEO of Genuent and is now Executive Chairman of the Board of INSPYR Solutions. “Their insight allowed us to evolve our model rapidly, proving that innovative staffing models can both solve critical worker shortages and create new pathways to economic mobility in the tech industry.”

The sale comes at a time of historic demand for skilled tech talent across the country. Emsi Burning Glass Recent Research suggests that the need for digital skills is becoming more prevalent across an ever-widening range of industries, including retail and manufacturing, as well as occupational categories such as marketing and operations.

“Traditional approaches to learning can no longer keep pace with technological change and the skill requirements of employers,” said Achieve’s chief executive. Anand Radia. “Genuent’s track record of success demonstrates the role intermediaries such as IT staffing firms can play in shaping new talent development models that will reshape the future of work.”

Achieve Partners invests in new talent development models that strengthen the links between education and the world of work. Achieve’s Workforce Fund helps companies create learning programs to both expand their talent pools and increase access to career paths in fast-growing industries.

About Achieve Partners
Achieve Partners is designing the future of learning and compensation by investing in advanced technologies and new business models to strengthen skills development and secure the future of work for millions of Americans. By harnessing digital transformation to create new models of learning and new pathways to good jobs, Achieve is helping to level the playing field, improve socio-economic mobility, and rekindle the American Dream. www.achievepartners.com

About Genuent
Genuent is a leading technology staffing company that provides highly skilled information technology professionals and workforce solutions to help clients solve complex technology and business challenges. Thanks to strong and lasting relationships with its consultants and clients, Genuent is an element of change in the world of work. Genuent serves customers nationwide across the technology spectrum, connecting top technology talent with customers to provide responsive and collaborative support. Genuent was founded in 2006 and is based in Houston, TX. www.genuent.com

About A&M Capital Partners
A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on mid-market control transactions in North America with total assets under management of $2.9 billion. A&M Capital Partners has a strong track record as a trusted partner to founders, companies and management teams, providing the capital and strategic assistance needed to take companies to the next level of success. A&M Capital Partners invests in companies across a wide range of sectors, including business services, industrials, manufacturing, food and beverage, healthcare, consumer and retail, government services, financial services and energy services. www.a-mcapital.com

SOURCE Reach Partners

Albay’s power problems: Takeover seen as solution

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FILE PICTURE

MANILA, Philippines — Amid mounting energy problems and years of outcry for better energy service in Albay, officials see a possible answer through a management takeover between an energy company in the province and its dealer.

Among the provinces of the Bicol region, which has been repeatedly hit by severe typhoons, the province of Albay has suffered from long-standing electricity problems such as blackouts, which have occurred almost regularly over the past last months.

Ed Lustan GRAPHIC

Albay Power and Energy Corp. (APEC), a private electricity distributor and subsidiary of San Miguel Corporation Global Power Holdings, has at least 205,000 electricity subscribers spread across 15 cities and three towns in Albay.

According to the APEC website, it began operations in February 2014 in Albay. He said he is focusing on three things: improving collection efficiency, reducing system losses, and improving brand image and corporate image.

But in recent months, APEC has announced more than 100 notices of power outages affecting areas covered by substations in Albay province. Some of these blackouts were planned, some were not.

Ed Lustan GRAPHIC

In addition to the announced power cuts, there were also cases of broken and overloaded transformers, which also led to temporary power cuts near the affected transformers.

In an effort to find a solution to solve the electricity problems of Albay residents, Governor Noel Rosal recently met with representatives of Albay Electric Cooperative (ALECO) and officials of the National Electrification Administration (NEA).

be decided

“One of the likely answers to the dilemma discussed is the possible takeover by ALECO of the management of the Albay Power and Energy Corporation (APEC), the latter being inundated daily with complaints from consumers because of its allegedly poor services” , the governor posted on Facebook. indicated page.

On March 26, 1991, ALECO – as the franchise holder – was officially registered with the NEA as a “non-profit, non-profit, apolitical service-oriented entity pursuant to Presidential Executive Order No. 269”.

“ALECO was granted the sole franchise to operate the light and electrical service for a period of 50 years from the issuance of the franchise in the province of Albay,” APEC explained.

Ed Lustan GRAPHIC

In 2013, APEC was incorporated and registered with the Securities and Exchange Commission (SEC), following the concession agreement between ALECO and SMC Global Power Holdings, Corp (SMCGPHC).

The following year, 2014, APEC officially took over the leadership of the debt-ridden ALECO.

Under the Private Sector Participation Program (PSP) between ALECO and SMCGPHC, the private company APEC will manage and operate ALECO for a period of 25 years.

READ: Albay co-op officials approve SMC subsidiary’s bid

However, it was noted that the public would still have to wait until next month to hear the final decision on what might help solve or alleviate the electricity problems in the province.

Ed Lustan GRAPHIC

“[I]At the meeting, it was emphasized that the issue and final decision will be decided in August when the Governor convenes an ALECO General Membership Meeting (AGMA) of all interested consumer members to thoroughly discuss the final decision on the power supply in Albay. ”

“Governor Rosal expressed high hopes that APEC would cooperate and abide by the final decision of the General Assembly in the event of a possible leadership change. Especially since reports have shown that APEC has already incurred debts amounting to almost five billion pesos,” wrote the Albay Public Information Office (PIO).

Ed Lustan GRAPHIC

“It can be recalled that the reason for taking over APEC years ago was to restructure ALECO’s two billion peso debt.”

APEC spokesman Pat Gutierrez said last May that the company owed NPC-SPUG 32 million pesos. This is in addition to the 4.2 billion pesos the company owed San Miguel Energy Corp. (SMEC), where APEC sources its electricity, outside of the wholesale electricity spot market (WESM).

Gutierrez also admitted that APEC operations had been hampered by unpaid bills from 53,000 consumers, system losses caused by rampant theft, and outdated transmission lines and stations.

According to her, the company was losing at least 142 million pesos each month due to a 21% system loss and non-payment of bills. The company’s collection efficiency was also pegged at just 74%.

READ: Month of darkness in Albay: Power outages, rate hikes

Geothermal power plants in 2023

Aboitiz Power Corp., meanwhile, recently announced that it is increasing its investments in renewable energy with the construction of a 17 megawatt binary geothermal power plant in Albay.

“The planned facility will be built with an entirely new binary plant system, pipes and transmission line” and is expected to be completed in 2023.

“This project aims to recycle our by-product and turn it into productive energy in the form of electricity, through the addition of a binary factory,” said Jeffrey Estrella, AP President and COO. Renewables Inc. (APRI).

“We are always keen to invest in technical improvements and innovations that extend the useful life and improve the production of our renewable energy assets,” added Estrella.

LILY: A 17 MW geothermal power plant will rise in Albay by 2023

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TC Energy Corporation – Consensus indicates 15.3% upside potential

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TC Energy Corporation found using the ticker (TRP) now have 9 analysts covering the stock. Analyst consensus points to a ‘Hold’ rating. The range between the target price high and the target price low is between 73.19 and 41.11 calculating the average target price we have 58.3. Given that the stock’s previous close was at 50.56, this indicates that there is 15.3% upside potential. The 50 day moving average now sits at 54.52 and the 200 moving average now moves to 52.48. The company has a market capitalization of $50,129 million. Company website: https://www.tcenergy.com

The potential market cap would be $57,803 million based on market consensus.

You can now share it on Stocktwits, just click on the logo below and add the ticker in the text to be seen.

TC Energy Corporation is an energy infrastructure company in North America. It operates through five segments: Canadian Gas Pipelines; American gas pipelines; Mexican gas pipelines; Liquid pipelines; and power and storage. The company builds and operates a 93,300 km pipeline network, which transports natural gas from supply basins to local distribution companies, power plants, industrial facilities, interconnecting pipelines, export terminals LNG and other companies. It also has regulated natural gas storage facilities with a total working gas capacity of 535 billion cubic feet. In addition, it has an approximately 4,900 km liquids pipeline network that connects crude oil supplies from Alberta to refining markets in Illinois, Oklahoma, Texas and the U.S. gulf. In addition, the Company owns or has interests in seven power generation facilities with a combined capacity of approximately 4,300 megawatts that are fueled by natural gas and nuclear fuel sources located in Alberta, Ontario, Quebec and New Brunswick; and owns and operates approximately 118 billion cubic feet of unregulated natural gas storage capacity in Alberta. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

GUEST COLUMN: A Commitment to Clean Energy, System Reliability | Opinion

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In response to Dick Standaert’s July 10 letter, I wanted to take a moment to share the strategy behind the future of Ray Nixon’s power plant in particular, as well as our energy future.

Colorado Springs Utilities’ energy mix by 2030 will include more than 40% of natural gas-based generation, with the remainder including solar, wind, hydroelectric and purchased carbon-free electricity.

While adding green power to our portfolio is a big part of our journey for a host of reasons, it’s not our only source of power. Because we are absolutely committed to the reliability and resilience of our electrical system, a number of solutions will remain in our portfolio.

Today, we will continue to dedicate resources to efficiency and conservation while seeking a balance between reliable natural gas-based generation and renewable energy.

Our commitment to system reliability, economic stewardship and resilience is as strong as our commitment to reducing carbon emissions. We are confident that we can achieve both largely thanks to the forward-thinking plans developed during the 18-month public process for the 2020 EIRP.

The alternative to these proactive measures was to fall behind and let regulators and activist groups dictate solutions that would be significantly more costly and punitive.

Keeping the Martin Drake Generating Station or the Ray Nixon Generating Station coal-fired is neither realistic nor financially viable in today’s regulatory climate where our taxpayers are exposed to volatile and rising fuel prices. Coal prices have skyrocketed lately, and personnel costs, equipment liability, and the agility of coal-fired power plants make these technologies much less advantageous than newer technologies.

The decision to discontinue our coal-based production was only made after extensive research and evaluation. It was not made in a vacuum.

Our proactive approach to green energy and our balanced portfolio approach also prepare us for future regulation. The regulations and standards in place to reduce carbon emissions are very real and will only become more aggressive in the years to come.

Here in Colorado Springs, we will be ready and well-prepared to stay in full compliance while ensuring a reliable and economically stable power system.

For utilities that remain reliant on coal-based generation, the costs of meeting increasingly restrictive emissions regulations will easily outweigh investments in natural gas and carbon-free alternatives, not to mention the abandonment of obligations to reduce environmental impacts. We will not be in this situation.

The maintenance and personnel resources needed to continue operating aging coal plants, such as Drake and Nixon, are significantly more expensive than similar natural gas generation. For example, operating and maintaining the modular natural gas units installed next to the Drake Generating Station will cost $200 million less over the next few years.

In his letter, Standaert refers to the global challenges related to the production and consumption of electricity. While these concerns are legitimate, we’re focused on the best path forward for Colorado Springs. We believe our plan is the most fiscally responsible approach to achieving an 80% reduction in emissions by 2030.

Eliminating coal from our energy mix will save our customers money, maintain or improve our system reliability, and continue to move Colorado Springs on the path to a financially compliant future. responsible and environmentally friendly.

Aram Benyamini is the CEO of Colorado Springs Utilities.

Aram Benyamini is the CEO of Colorado Springs Utilities.

UGI urges residents to use energy wisely during summer months – GantNews.com

With residents concerned about household bills during periods of inflation, UGI offers these simple tips to help minimize energy consumption during the rest of the warm months:

· If you have a programmable thermostat, increase the setting to the highest comfortable temperature possible if you have central air conditioning. Raise the temperature if you won’t be home for an extended period of time. You can save three to five percent on your air conditioning costs for every degree you raise your thermostat.

· Close doors leading to uncooled parts of your home. If you have central air conditioning, close the air vents in unused rooms. Keep air conditioning filters clean.

· Use ceiling and portable fans to circulate air as an alternative to air conditioning. Turn fans off when you leave the room – ceiling fans cool people, not the room.

· Seal holes and cracks around doors and windows. Eliminate air leaks around window air conditioners with foam insulation or weatherstripping. Ridding your home of air leaks will also reduce heating costs during the heating season.

· Close blinds, shades and drapes facing the sun to keep the sun’s heat out and help fans and air conditioners cool more efficiently.

· Consider applying solar control or other reflective films to your windows. Window films can save energy in summer. Window films can be installed directly over existing windows and are available in a range of tints, UV blocks and colors. Mirror type silver films are generally best suited to reflect sunlight and provide the most effective energy conservation. Be aware that window films have specific limitations including interior light loss, reduced window visibility, and aesthetic issues when viewed from the exterior.

· Avoid placing lamps or televisions near your room thermostat. The thermostat senses heat from these appliances, which may cause the air conditioning to run longer than necessary.

· Vacuum regularly to avoid dust accumulation. Make sure furniture and other objects don’t block airflow through your registers.

· If applicable, use your microwave for cooking to keep interior heat to a minimum.

· About 80% of homes have a clothes dryer. Use a low heat setting and clean the lint trap after each load to increase efficiency. You can also hang clothes to dry rather than using a clothes dryer.

· Use your bathroom fan when showering. A hot shower produces heat, steam and humidity, which can raise the temperature of the room. Running your bathroom fan while you shower draws heat and steam out of the room. If you don’t have a bathroom fan, open a window or leave the door ajar to create a cooler draft.

· UGI clients are also encouraged to learn more about the Low Income Utilization Reduction Program (LIURP). This weatherization program offers free installation of energy-saving measures to income-eligible households to help make energy bills more affordable. Possible energy saving measures include ceiling insulation; insulation of floors, ducts and hot water pipes; caulking and weather stripping, gas water heater repairs and low flow water saving devices. Visit www.ugi.com/assistance-programs/ for more information.

If you have a service-related issue, UGI’s emergency response is available 24 hours a day, every day. Your safety is always our top priority. UGI can be reached at (800) 276-2722.

UGI Utilities is a natural gas and electric utility headquartered in Denver, Pennsylvania. UGI serves more than 730,000 clients in 45 counties in Pennsylvania and one county in Maryland. Customers and community members are encouraged to visit UGI’s website at www.ugi.com, our Facebook page at www.facebook.com/ugiutilities; or follow us on Twitter at www.twitter.com/ugi_utilities.Key points to remember

  • UGI offers simple tips to help minimize energy consumption during the rest of the warm months.

Media GalleryContactsJoseph Swope[email protected]

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