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 ...
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GE to buy Alstom’s energy stakes in JVs for $3.1bn
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 ...
Read More »Tariff exemption for solar farm panels sought
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 ...
Read More »PG&E signs ‘solar project’
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 ...
Read More »Renewable energy jobs reach 10.3mn worldwide
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, ...
Read More »British sun beats natural gas to provide most electricity
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 ...
Read More »Crescent Point defeats activist, winning all board seats
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 ...
Read More »Siemens, Idemitsu among suitors in Vietnam’s energy sell-off
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. ...
Read More »Cheap-energy drive seen risking UK climate goals
Bloomberg Britain’s zeal to protect consumers from higher energy prices may be about to upend measures to rein in fossil-fuel pollution. Power grid operators warned they won’t be able to break even on future investments to upgrade the electricity system if a proposal to slash authorized profit margins takes effect. Backing that view is Moody’s Investors Service, which said tighter ...
Read More »Total back to drill in South Africa as fuel network grows
Bloomberg French energy giant Total SA plans to boost oil exploration and open more fuel stations in Africa’s most industrialized country. Total pumped a record amount of oil and gas in the first quarter and expects output growth to exceed its 6 percent target this year thanks to acquisitions and new projects from the Arctic to West Africa. In South ...
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