Energy

Germany set for solar record over warm climate

Bloomberg Germany is headed for record solar power generation next week as forecasters predicted warm weather for central and eastern Europe and even raised the prospect of heatwaves hitting the southeast region later this month. While Europe’s renewable energy revolution has fundamentally changed how the power market works, it’s probably most notable at this time of year. German prices slumped ...

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Record growth in businesses buying renewable power

Bloomberg Companies are buying renewable power at a record pace. AT&T Inc. and Walmart Inc. are among 36 businesses, government agencies and universities that have agreed to buy 3.3 gigawatts of wind and solar power so far this year. That’s on track to shatter the previous high of 4.8 gigawatts of disclosed deals last year, according to a report by ...

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M&A in clean-energy loving Germany could sully green bonds

Bloomberg Angela Merkel’s clean-energy push may turn out to be less ‘green’ than expected for bondholders caught up in the upheaval of Germany’s energy industry. In the latest redrawing of the power map as the nation moves away from nuclear and fossil fuels, EON SE will take over Innogy SE from rival RWE AG, along with 850 million euros ($1 ...

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China targets 100% clean power for new economic zone

Bloomberg China aims to supply a new economic zone being built near Beijing, known as the Xiongan New Area, with 100 percent clean electricity, according to the Xinhua News Agency. The goal is part of an ambitious plan by President Xi Jinping to remake a backwater region into a glittering new technology and innovation hub. Electricity will account for more ...

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Jordan eyes first power storage project

Bloomberg Jordan is pressing ahead with its first electricity storage project to bolster its expansion in solar and wind generation. The Middle Eastern kingdom expects to sign a contract for a 30-megawatt battery in the third quarter, according to Energy and Mineral Resources Minister Saleh Al Kharabsheh. The project, which was tendered last year, will help ensure the country has ...

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Banks sweeten terms for solar business as confidence rises

Bloomberg Interest rates are rising, making debt much more expensive for capital-intensive industries across America. But there’s at least one exception: the solar business. While the cost of borrowing has been increasing since 2016, some banks are taking a smaller cut to win deals from solar developers. Loans of seven years or longer can be obtained for 137.5 basis points ...

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Australia edges towards new energy policy

Bloomberg Australia may agree the final rules of its contentious National Energy Guarantee by August after winning cautious backing from states and territories for a policy the ruling Coalition hopes will end a decade of policy paralysis. Energy ministers from Australia’s six states and two territories signed off on a preliminary deal to back the scheme at a Council of ...

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Trump’s lower oil prices wish wouldn’t be clear boon to US

Bloomberg President Donald Trump may have a problem with oil prices being “very high,” but a decline would be a mixed bag for the US economy, thanks to the boom in American energy production. When prices plunged starting in mid-2014 and stayed low for the next two years, US producers felt the pain, much more and longer than was expected. ...

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Petrobras gets three bids for natural gas unit

Bloomberg Petrobras has received three bids for a 2,800-mile (4,506 kilometer) natural gas pipeline system being sold as part of a wider push to raise cash through divestments, said people knowledgeable on the matter. Mubadala Development along with EIG Global Energy Partners are leading one group while Sydney-based Macquarie Group Ltd. leads another that submitted bids for Transportadora Associada de ...

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US to review natural gas pipeline policy

Bloomberg US energy regulators embarked upon a wide-ranging review of how interstate natural-gas pipelines are approved, amid concerns that current guidelines have become outdated following the shale boom. The Federal Energy Regulatory Commission will examine the use of eminent domain, how the need for a pipeline is assessed and the extent to which greenhouse gas emissions should be taken into ...

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