Energize Weekly, July 24, 2019 Zurich-based ABB is paying $470 million to unload its solar inverter business to Italian solar inverter maker Fimer Spa, as price pressures dog the market. ABB said it will take an after-tax nonoperational charge of $470 million with about 75 percent going to Fimer as a cash payment. ABB said…
Energize Weekly, July 24, 2019 In a sign of the shifting fortunes in the utility industry, on the same day came news of the largest coal-fired plant closure in nearly a decade and the largest U.S. offshore wind contracts ever. On July 18, American Electric Power (AEP) agreed to close a 1.3-gigawatt (GW) coal-fired unit…
Energize Weekly, July 24, 2019 Natural gas, despite growing concerns about its role creating greenhouse gases, continues to provide “quick wins” for carbon emissions reductions and clean air improvements, according to a study by the International Energy Agency (IEA). In the United States, for example, there has been a 70 percent increase in natural gas-fired…
Energize Weekly, July 17, 2019 Chinese renewable energy investment dropped 39 percent in the first half of 2019 to $28.8 billion when compared with the same period in 2018, according to Bloomberg New Energy Finance (BNEF). The 2019 six-month figure was the lowest since 2013 and is the result of a shift this year away…
Energize Weekly, July 17, 2019 Global power mergers and acquisitions (M&A) reached $158 billion in 2018, making it the second most active in the last five years, according to GlobalData, a London-based data and analytics company. The number of deals was down a little more than 4 percent to 622 for 2018 when compared to…
Energize Weekly, July 17, 2019 New wind energy projects worldwide are forecast to average 71 gigawatts (GW) a year from 2019 to 2023 and 76 GW a year from 2024 to 2028, according to market report by Wood Mackenzie Power & Renewables. The report also upgraded wind energy additions by 11 GW between 2019 and…
Energize Weekly, July 10, 2019 The natural gas industry is making $1.3 trillion in infrastructure investments to create a global liquefied natural gas (LNG) market but those capital expenditures may be at risk from competitive renewable energy prices and the prospect of climate regulations, according to Global Energy Monitor. The San Francisco-based nonprofit, which tracks…
Energize Weekly, July 10, 2019 Utilities are moving to close coal-fired power plants and add more renewable generation, but the large role played by new gas-fired power plants is drawing fire from environmental groups, arguing that no more fossil fuel-based units should be built. In the last two weeks the Tennessee Valley Administration (TVA), Xcel…
Energize Weekly, July 3, 2019 After a record first quarter for photovoltaic (PV) solar installations in the U.S., the market is poised to install 13 gigawatts (GW) of PV in 2019 – a 25 percent increase over 2018, according to energy consultant Wood Mackenzie. In the first quarter of 2019, 2.7 GW of solar PV…
Energize Weekly, July 3, 2019 Renewable electricity generation surpassed coal-fired generation for the first time in April, according to the federal Energy Information Administration (EIA). Renewable generation accounted for 23 percent of electricity generation in April compared to 20 percent for coal. “This outcome reflects both seasonal factors as well as long-term increases in renewable…
Energize Weekly, July 3, 2019 Rural electric cooperatives, which get much of their power from coal-fired power plants and are among the leading emitters of greenhouse gases, are hampered in shifting to clean energy by coal-related debt, according to a study by the Center for Rural Affairs. The study by the Lyons, Neb.-based non-profit found…
Energize Weekly, July 3, 2019 The cost of transforming the U.S. electric grid to totally renewable energy in the next 10 to 20 years would be $4.5 trillion given current technology, according to a study by energy-and-industry consultant Wood Mackenzie. At a time of competing climate plans among Democratic presidential candidates and the Green New…
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