Energy

Bloomberg Greenworks Lending, which provides financing to commercial-property owners working to boost building efficiency, has arranged $440 million in funding for sustainability and clean energy. The deals are in three parts: CarVal Investors committed $250 million to fund new projects, along with a $40 million corporate investment, according to a statement. Greenworks, which finances clean-energy systems through a model called ...

Bloomberg The Australian government hounding the gas sector to get power bills down is overlooking the surge in the price of coal, which fuels the bulk of the country’s generation. The cost of coal power in Australia has doubled from 2016 levels, in line with seaborne spot prices of the fuel, Bloomberg NEF said in a report on Monday. That’s ...

Bloomberg Solar companies gained after the world’s largest panel manufacturer said demand in China was rebounding. JinkoSolar Holding Co Chief Executive Officer Kangping Chen said in a statement that Beijing’s solar cutback has not slowed sales as much as expected and that a global supply glut is easing. “We are confident that Chinese demand will return next year,” Chen said. ...

Bloomberg Tesla Inc has started the second phase of its virtual power plant in South Australia as it seeks to potentially connect 50,000 homes to provide as much capacity as a large gas turbine. Solar panels and Tesla’s Powerwall batteries will be installed at 1,000 public housing properties during the second stage, South Australia’s Energy Minister Dan van Holst Pellekaan ...

Bloomberg Developing countries have added more clean power capacity than fossil fuel generation for the first time ever, charging ahead of wealthier nations in the global green energy push, according to Bloomberg NEF. Wind and solar generation accounted for just over half of the 186 gigawatts of new power capacity in developing nations last year, according to BNEF’s annual Climatescope ...

Bloomberg PG&E Corp’s financial pain is spreading to some of the power plants that sell it electricity. Fitch Ratings Ltd downgraded the debt of two solar farms in California, citing concern about PG&E’s finances. The utility, which was downgraded last week, is the sole electricity customer for Berkshire Hathaway Energy’s 550-megawatt Topaz Solar Farms and NextEra Energy Inc’s 250-megawatt Genesis ...

Bloomberg Power plant developers in Britain are overestimating the need for natural gas-fired generation to back up intermittent renewable energy. The nation needs only 38 percent of the gas capacity it has now to keep the power on, according to a report by New Resource Partners, a consultancy that advises governments and investors on renewables. “Our modelling shows that the ...

Bloomberg China, the driver of global demand, is forecast to become the world’s largest gas-buying country with net imports approaching the level of the European Union by 2040, according to the International Energy Agency’s the World Energy Outlook. China already overtook South Korea as second-largest LNG importer last year and is on track to surpass Japan. By 2040, it will ...

Bloomberg AES Corp, a long-time builder of coal-fired power plants around the world, published a report that projects how climate change could affect its business. The bottom line, the company says, is that its move away from carbon fuels means its business model holds up whether the world warms a lot or a little. The report, which AES says is ...

Bloomberg Chevron Corp. and Exxon Mobil Corp. are among the companies considering first-round bids this month for closely held oil producer Endeavor Energy Resources LP, according to people with knowledge of the matter. The two oil majors may be joined by ConocoPhillips in competing for the business, which could be valued at about $15 billion including debt, said the people, ...