Corporate News: Page 9


  • An exterior of the Barclays Bank headquarters
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    Oli Scarff via Getty Images
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    Barclays ceases direct funding of new fossil fuel projects

    The London-based bank will also require all its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.

    By Lamar Johnson • Feb. 13, 2024
  • A FirstEnergy crew working on distribution power lines.
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    The image by FirstEnergy is licensed under CC BY-ND 2.0
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    FirstEnergy increases 5-year spending plan 44%, to $26B, drops 2030 carbon goal

    The company abandoned its plan to cut carbon emissions 30% below 2019 levels by 2030 amid tightening power supplies in the PJM Interconnection, but it still intends to be net carbon neutral by 2050.

    By Feb. 12, 2024
  • A picture of wind turbines in front of solar panels in Palm Springs, California. Explore the Trendline
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    Kevork Djansezian via Getty Images
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    Trendline

    Sustainability

    Companies are pursuing increasingly ambitous sustainability goals around clean energy, but integrating rising amounts of renewables, minimizing environmental impacts, and achieving carbon reduction targets can be challenging.

    By Utility Dive staff
  • A Fluence Energy Gridstack battery storage system.
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    Courtesy of Fluence
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    Fluence’s backlog hits record $3.7B as company focuses on domestic energy storage manufacturing

    Fluence is also on track to begin manufacturing battery modules at a facility in Utah this summer, allowing it to tap into the “domestic content” tax credit included in the Inflation Reduction Act.

    By Kavya Balaraman • Feb. 12, 2024
  • Gas prices are seen displayed at a Shell station.
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    Justin Sullivan via Getty Images
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    Shell rebrands climate tech company Studio X as Onward, eyes net-zero economy

    The updated energy venture falls in line with the oil major’s goal to become a net-zero emissions energy business by 2050.

    By Zoya Mirza • Feb. 12, 2024
  • Workers stand between solar panels.
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    Mario Tama via Getty Images
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    Recurrent Energy raises $160M, secures Microsoft as client for solar project

    The tech giant will be the sole purchaser of all the energy and renewable energy credits produced by the Louisiana-based Bayou Galion Solar project.

    By Zoya Mirza • Feb. 9, 2024
  • Wind turbines stand behind a solar power park.
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    Sean Gallup via Getty Images
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    Green investor Brookfield scores $10B for latest energy transition fund

    The fund will invest in the expansion of clean energy, the development of sustainable solutions and the decarbonization strategy of companies from high-emitting sectors.

    By Zoya Mirza • Feb. 8, 2024
  • IKEA logo is displayed outside a store.
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    Naomi Baker via Getty Images
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    Ikea makes strides in reducing carbon footprint, attributes progress to clean energy initiatives

    The home furnishings retailer said its greenhouse gas emissions declined by 11.5% from the previous year and it has updated its climate strategy to reach net zero by 2050.

    By Zoya Mirza • Feb. 1, 2024
  • Electricity from solar panels, dams, and wind turbines. Environmentally-friendly renewable energy concept.
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    bombermoon via Getty Images
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    2024 US power sector outlook

    The U.S. clean energy transition is expected to accelerate in 2024 but faces question around transmission, financing, federal elections and other issues.

    By Utility Dive staff • Jan. 31, 2024
  • Schneider Electric hit by ransomware attack against its sustainability business division

    The company said the attack directly impacted its EcoStruxure Resource Advisor platform, which is used by more than 2,000 companies worldwide to monitor energy and resource data.

    By David Jones • Jan. 31, 2024
  • Green hydrogen plant.
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    stock.adobe.com/rufous

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    Sponsored by PXiSE Energy Solutions

    How a BESS can improve green hydrogen economics

    Why including a BESS in your green hydrogen project configuration is a wise investment.

    Jan. 29, 2024
  • An aerial view of a solar farm with snow-covered solar panels.
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    Bilanol via Getty Images
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    NextEra CEO downplays chance of Inflation Reduction Act repeal if Trump re-elected

    Investors have expressed concern about political uncertainty and ongoing market volatility in the renewable energy sector, but NextEra CEO John Ketchum said market disruption has only made the company stronger.

    By Emma Penrod • Jan. 26, 2024
  • Flags fly above the entrance of the BlackRock offices.
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    Andrew Burton via Getty Images
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    BlackRock commits $500M to energy storage and solar project developer Recurrent Energy

    The investment allows the asset manager to have a 20% stake in the company and marks the inaugural transaction by its fourth climate infrastructure fund.

    By Zoya Mirza • Jan. 25, 2024
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    BulentBARIS via Getty Images
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    Deep Dive

    Utility Business Outlook: Power prices stay elevated as elections sow uncertainty for clean energy plans

    For utilities and the clean energy sector, 2024 could bring “an exceptional level of volatility and opportunity,” according to Bank of America Global Research analysts.

    By Jan. 23, 2024
  • Modern container battery energy storage power plant system rendering
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    Petmal via Getty Images
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    Apex Clean Energy enters joint venture to own US energy storage projects

    The venture, called SA Grid Solutions, has kicked off operations with ownership of the Great Kiskadee utility-scale battery project.

    By Kavya Balaraman • Jan. 22, 2024
  • Shot of BlackRock building from below with company logo centered and U.S. flag visible to the right of company name.
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    Spencer Platt via Getty Images
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    BlackRock to buy Global Infrastructure Partners in $12.5B deal, cites clean energy trends

    Through the deal, BlackRock will add GIP companies such as Competitive Power Ventures, Eolian and Terra-Gen Power to its portfolio.

    By Lamar Johnson • Jan. 17, 2024
  • An electricity meter covered in snow.
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    Valerie Loiseleux via Getty Images
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    DC government, ratepayer advocate oppose Exelon utility’s multi-year rate plan

    The opposition reflects emerging concerns about rising electric rates, per Paul Patterson, a Glenrock equity analyst. “We’re beginning to see — in certain jurisdictions — regulatory pushback,” he said.

    By Jan. 17, 2024
  • Natural gas is flared off during an oil drilling operation
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    Joe Raedle via Getty Images
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    Chesapeake, Southwestern Energy create new natural gas giant with $7.4B merger

    The combined portfolios, which will operate under a new company, will create the largest natural gas producer in the United States.

    By Lamar Johnson • Jan. 16, 2024
  • An aerial view of a power plant with steam rising from one of four smokestacks.
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    The image by RM VM is licensed under CC BY-SA 4.0
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    FERC allows activist investor Elliott to buy up to 20% of NRG Energy stock

    The decision comes as the Federal Energy Regulatory Commission is considering changing its policy on investment firm purchases of utility stock.

    By Jan. 11, 2024
  • Solar panels and wind turbines generating renewable energy for green and sustainable future.
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    pidjoe via Getty Images
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    9 US power sector trends to watch in 2024

    The U.S. march toward a decarbonized electric system will continue in 2024 as policymakers and others work to balance, climate, reliability, affordability and other goals.

    By Robert Walton, Ethan Howland, Diana DiGangi, Larry Pearl, Kavya Balaraman and Emma Penrod • Jan. 10, 2024
  • A gray garage building with solar panels on its roof.
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    Courtesy of Hanwha.

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    Qcells to supply Microsoft with 12 GW of solar panels in expanded partnership

    Microsoft is committed to going carbon-negative by 2030 and aims to achieve 100% electricity consumption coverage with renewable energy by 2025.

    By Sara Samora • Jan. 9, 2024
  • Boxes move along a conveyor belt at an Amazon fulfillment center.
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    Justin Sullivan via Getty Images
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    Amazon to generate hydrogen on-site with Plug Power’s electrolyzer system

    The low-carbon hydrogen generated at an Amazon fulfillment center in Colorado will power forklift trucks and help lower emissions.

    By Zoya Mirza • Jan. 5, 2024
  • Solar panels on solar farm during a sunny day.
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    schwartstock via Getty Images
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    First Solar $700M sale of advanced manufacturing tax credits likely first of many such deals: CPA

    Current economic conditions and provisions of the Inflation Reduction Act’s 45X tax credit make such deals a particularly appealing option to solar companies looking to grow, according to a Moss Adams CPA.

    By Emma Penrod • Jan. 4, 2024
  • Power lines in Nevada
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    Kathy Kafka via Getty Images
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    Pattern Energy secures $11B in financing, starts full construction on SunZia wind, transmission projects

    The scale of the SunZia project and its multifaceted financing show the renewable energy space can secure capital at levels previously only seen in traditional generation, Pattern executive Daniel Elkort said.

    By Jan. 3, 2024
  • Two wooden blocks on a computer keyboard that spell out "M&A"
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    Maks_Lab via Getty Images
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    Avangrid ends PNM acquisition bid, sees ‘no clear timing’ to resolve New Mexico PRC’s rejection of deal

    New Mexico regulators denied the merger in 2021 over concerns of reliability risks, the potential for higher electricity prices and slower development of renewable resources.

    By Jan. 2, 2024
  • A utility worker checks a power line after a tornado.
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    photovs via Getty Images
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    Exelon, ComEd, Ameren outlooks lowered by financial firms after regulator rejects grid plans

    While recent Illinois Commerce Commission decisions may hurt the utilities’ credit and financial outlook, consumer advocates said the agency’s actions protect ratepayers.

    By Dec. 21, 2023