Results for: solar

July 13 2017

Even the Man Who Tried to Turn NRG Green Backs Elliott

David Crane spent five years trying to convince Wall Street that he needed to turn the coal-burning, natural gas-dependent power generator NRG Energy Inc. into a clean-energy company. The crusade ultimately cost him his job. In late 2015, after NRG’s debt had swelled to $20 billion, Crane was fired as chief executive officer of the […]

July 11 2017

Siemens, AES Join in $2.5 Billion Storage Market Opportunity

Siemens AG and AES Corp., the Virginia-based independent power producer, are forming a venture to focus on technology that’s revolutionizing electricity markets: battery-based energy storage. The new venture, called Fluence, will market and service storage systems manufactured by AES and Siemens. They will each own 50 percent of Fluence once the deal is finalized, which is […]

July 11 2017

Remember Peak Oil? Demand May Top Out Before Supply Does

When Bob Dudley, chief executive officer of British oil giant BP Plc, was asked at a recent conference when oil demand will peak, he had a precise answer: June 2, 2042. The audience at the annual St. Petersburg International Economic Forum burst into laughter, knowing it’s impossible to predict such an event down to the day. […]

July 11 2017

Electricity Overtook Fossil Fuels in Push for Investment in 2016

Electricity drew in more investment than fossil fuel supply for the first time last year as the energy industry prepared for electrification of everything from cars to buildings and industrial processes. Power generation and electricity grid expansions took in $718 billion, 42 percent of the $1.7 trillion invested in energy last year, according to a […]

July 11 2017

Tesla’s Australian Battery Fix Comes at ‘Big Price,’ Analyst Says

Billionaire Elon Musk’s plan to install a giant battery to help fix a power crisis in South Australia will come at a “big price” with installation costing 60 percent more than alternative open cycle gas plants, according to Wood Mackenzie Ltd. Musk’s Tesla Inc. won a tender Friday to build what the entrepreneur said is […]

July 11 2017

AXA, Burberry Among Companies Committing to 100% Clean Energy

AXA SA and Burberry Group Plc are joining an array of companies committing to going green. Burberry expects to source all of its electricity from clean energy by 2022, while Copenhagen-based international brewing company Carlsberg A/S plans to switch to 100 percent renewable power at its breweries by that year, according to a statement from The Climate Group, […]

July 10 2017

Aramco to Spend $300 Billion as CEO Frets About Oil Supplies

Saudi Aramco, which plans what could be the world’s biggest initial public offering, will invest more than $300 billion over the next decade to maintain its spare oil-production capacity and explore for more natural gas, President and Chief Executive Officer Amin Nasser said. The outlook for oil supplies is “increasingly worrying,” with about $1 trillion in […]

July 10 2017

Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020

Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates. “In some parts of the world we are beginning to see battery electric cars starting to gain consumer acceptance” while wind and solar costs are falling […]

July 10 2017

Chernobyl Radioactive Zone May Get Giant French-Built Solar Park

Ukraine is talking to one of France’s largest energy companies about building a giant, billion-euro ($1.25 billion) solar park in the uninhabited radioactive zone surrounding the abandoned Chernobyl nuclear reactor. Engie SA is beginning a pre-feasibility study funded by the French government next week with the results expected for the end of the year, Ukraine’s minister […]

July 10 2017

Wall Street Sours on $9 Billion Mechanism for Green Projects

Wall Street investors have gone cold on one of the main mechanisms banks invented to fund the green-energy revolution. The business structure, known as the yieldco, feeds dividends from operating solar and wind farms to investors. Yieldcos raised $7.9 billion in public equity in 2014 and 2015 but only $1 billion since then, according to […]