Energy

Bloomberg The gas market is being flipped upside down. Australia, soon to become the world’s biggest exporter of liquefied natural gas, is now turning to the largest buyer Japan as it seeks to import the fuel to ease a domestic supply crunch. In a scenario played out previously by LNG shippers including Indonesia and Malaysia, Australia is seeking to import …

Bloomberg Tata Power Co., one of India’s largest private power utilities, is planning to invest as much as $5 billion to ramp up its renewable capacity fourfold, according to its top executive. The 103-year-old power utility plans to increase its clean-energy capacity to 12,000 megawatts by 2028, Chief Executive Officer Praveer Sinha said. That would require an investment of as …

Bloomberg EDP-Energias de Portugal SA is poised to reject a 9.1 billion euro ($10.9 billion) takeover offer from China Three Gorges Corp on the grounds that it undervalues Portugal’s biggest energy company, according to people with knowledge of the matter. The board of EDP, which may meet as early as this week, views the current bid of 3.26 euros a …

Bloomberg General Electric Co. will be required to buy Alstom SA’s stakes in three energy joint ventures for 2.59 billion euros ($3.1 billion), closing a lengthy chapter in the massive 2015 tie-up that has become a headache for the beleaguered US manufacturer. Alstom said that it will exercise its options to exit the renewable energy, grid and nuclear businesses that …

Bloomberg Republican senators from five states with big solar farms are asking the Trump administration to exempt the workhorse of industrial solar panels from tariffs imposed earlier this year. The group of eight senators led by North Carolina’s Thom Tillis urged the administration to waive duties on 72-cell, 1,500-volt panels that are ideal for large ground-mounted “utility-scale” projects, according to …

Bloomberg PG&E Corp. said it has signed its first so-called community solar project, which allows customers who can’t install panels on their roofs the option of buying solar energy from a nearby facility. Residents will be able to purchase power directly from a 1.66 megawatt solar plant being developed by ForeFront Power in Fresno County, California, according to a PG&E …

ABU DHABI / WAM The renewable energy industry has created more than 500,000 new jobs globally in 2017, a 5.3 percent increase from 2016, according to the latest figures released by the International Renewable Energy Agency (Irena). According to the fifth edition of Renewable Energy and Jobs — Annual Review, launched at Irena’s 15th Council in Abu Dhabi on Tuesday, …

Bloomberg Britain got a glimpse of its green future as the sun provided more power to households than any other energy source over a rare, sunny holiday weekend. Solar generation rose to 8,728 megawatts, just shy of the record of 8,910 megawatts on May 26 last year. The sun provided 26.9 percent of electricity supply, just beating natural gas, while …

Bloomberg Crescent Point Energy Corp. triumphed over activist investor Cation Capital Inc., with all of the oil producer’s board nominees winning approval from shareholders after a rancorous proxy battle. Cation nominees Dallas Howe and Herbert Pinder each garnered more than 100 million votes but still fell about 30 million votes shy of the nearest company nominees, Calgary-based Crescent Point said …

Bloomberg Buyers from Germany, Japan, India and beyond are kicking the tires on Vietnam’s great state asset sale. The government’s hunt for overseas investment in some of the nation’s biggest energy companies has yielded interest from firms including Siemens AG, Idemitsu Kosan Co. and Indian Oil Corp., among others, according to Deputy Minister of Industry & Trade Hoang Quoc Vuong. …