Category: News

October 3 2017

Saudi Arabia Gets Cheapest Bids for Solar Power in Auction

Saudi Arabia received offers to supply solar electricity for the cheapest prices ever recorded, marking the start of a $50 billion program to diversify the oil producer’s domestic energy supplies away from fossil fuels. The energy ministry said Abu Dhabi’s Masdar and Electricite de France SA bid to supply power from a 300-megawatt photovoltaic plant for […]

October 3 2017

GM Plans 20 All-Electric Models by 2023

Written by David Welch. This article first appeared in Bloomberg Technology. General Motors Co. joined a growing group of automakers promising an emissions-free future for cars by pledging to sell 20 all-electric vehicles by 2023. The largest U.S. automaker, which generates most of its profit with large sport utility vehicles and pickup trucks, plans to […]

October 3 2017

Kansai Electric Bellwether for Koike’s `Party of Hope’

The Japanese company most dependent on nuclear power before the Fukushima disaster is one of the stocks most affected by the changing fortunes of Tokyo Governor Yuriko Koike’s new party. Kansai Electric Power Co. rose the most in six months on Tuesday as the market loses confidence that Koike’s Party of Hope can win enough […]

October 3 2017

Southeast Asia Banks Urged to Strengthen Environment Policies

Banks and regulators in Southeast Asia should strengthen financial-sector rules and guidelines to promote funding for environment-friendly projects in a region threatened by deforestation and climate change, the World Wildlife Fund said. Measures to promote sustainable finance in the region are “high level,” and don’t involve the incentives or penalties which would get banks to […]

October 3 2017

Why an Enigmatic Chinese Company Just Spent $9 Billion on a Stake in Rosneft

Written by Alfred Cang and Aibing Guo. This article first appeared in Bloomberg Technology. While there’s a risk oil may slide below $30 as its displaced by alternative energy sources, it will still be used to make petrochemicals, said the head of the enigmatic Chinese company that last month bought a $9 billion stake in […]

October 3 2017

Tesla Is Dropped by Climate Fund That’s Beaten 97% of Its Peers

Tesla Inc. is overvalued, according to a climate fund that has beaten 97 percent of its peers. “We don’t see upside,” Thomas Sorensen, who manages the Nordea Global Climate and Environmental Fund, said by phone on Thursday. “What’s needed in cash flow generation to get to the current valuation — we don’t see that happening.” With […]

October 3 2017

Tesla Falters With Model 3 as Initial Output Trails Forecast

Dana Hull for Bloomberg Technology Tesla Inc. struggled to produce its cheapest model shortly after the car debuted, setting back Chief Executive Officer Elon Musk’s mission to reach mainstream consumers. The automaker built only 260 Model 3s during the quarter ended in September, less than a fifth of its 1,500-unit forecast. Output of the sedan that […]

October 2 2017

Trump May Have Found Paths to Save Coal and Hobble Clean Energy

President Donald Trump may soon have a chance to prove wrong the notion that economics will kill the U.S. coal industry and keep clean energy thriving. Two initiatives pending in Washington — one to prop up large traditional power plants and a second to impose tariffs on solar panels — could let Trump upend wholesale electricity markets […]

October 2 2017

Puerto Rico to Get Power Relief From German Microgrid Supplier

Sonnen GmbH, a German provider of energy-storage systems, is planning to install microgrids to provide electricity for at least 15 emergency relief centers in hurricane-ravaged Puerto Rico. Sonnen began delivering its storage systems to Puerto Rico last week and expects to deliver at least one shipment each week as the island’s ports reopen, the Wildpoldsried, Germany-based […]

October 2 2017

Shell to Seek Sale of Stake in $1.4 Billion Wind Farm

Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said. The companies are looking to reduce their ownership in the Borssele III and IV wind farms […]