Energy

Bloomberg Hitachi Ltd subsidiary Horizon Nuclear Power has been holding detailed conversations with UK government officials in recent weeks to revive plans for a proposed nuclear power plant in north Wales, the Financial Times reported. Horizon has been trying to convince ministers that plans for the Wylfa Newydd plant on Anglesey could be quickly restarted if they can produce a ...

Bloomberg Wind and solar energy doubled its share of the global power mix over the last five years, moving the world closer to a path that would limit the worst effects of global warming. The sources of renewable energy made up nearly 10% of power in most parts of the world in the first half of this year, according to ...

Bloomberg Betting on growing demand to finance and support mini power plants, Schneider Electric SE said that it was partnering with investors to launch a new company focussed on microgrids for small and medium-sized US businesses. Investors led by Jeff Ubben’s new sustainable investment firm Inclusive Capital Partners and clean energy-focussed Huck Capital, will back the partnership. Having reliable, sustainable ...

Bloomberg Shale explorers parked more drilling rigs in the US this week as stagnant oil prices push the industry to extend a historic retrenchment. The number of active oil rigs in US fields fell by 4 to 172, according to Baker Hughes data. That’s the lowest level of activity since 2005, before the shale boom kicked off. The worst may ...

Bloomberg Brookfield Asset Management Inc’s infrastructure arm is in talks to acquire Blackstone Group Inc’s minority stake in liquefied natural gas terminal operator Cheniere Energy Partners LP, according to people familiar with the matter. The alternative asset manager is working with a partner to acquire Blackstone’s interest, said the people, who asked to not be identified because the matter isn’t ...

Bloomberg Shanghai Aiko Solar Energy Co will invest 20 billion yuan ($2.87 billion) to build photovoltaic cell manufacturing plants in Zhejiang province, according to an agreement between the company and the local government. The facilities will have total annual capacity of 36 gigawatts and construction will last for seven years, the company said in a filing to Shanghai stock exchange. ...

Bloomberg Tongwei Solar, a unit of Tongwei Co, raised multicrystalline solar cell prices by 11% to 0.6 yuan per watt, according to a notice on its website. The company, the world’s leading cell producer, also increased prices for three types of monocrystalline cells by 0.08 yuan per watt each, about a 9% increase. The hike is the second in less ...

Bloomberg Occidental Petroleum Corp’s Algerian oil and gas assets are a core holding and will no longer be listed for sale, Chief Executive Officer Vicki Hollub said on a conference call with analysts. In May, Occidental’s proposed sale of its Algerian assets to Total SE was blocked by the North African country, putting further pressure on the shale driller as ...

Bloomberg Some of the world’s biggest energy traders are looking to get ahead in Japan’s nascent power market. From Royal Dutch Shell to German utility RWE, companies are hiring, reassigning staff and building relationships with Japanese firms to profit in the $136 billion market. After building markets in Europe and the US, they have their sights on the third-biggest economy, ...

Bloomberg Nigeria’s state oil company signed a preliminary agreement to end a dispute with two energy companies over oil exports, signalling a move towards resolving similar disagreements with other oil majors on revenue from several offshore oil fields. The Nigerian National Petroleum Corp said in a statement on Twitter it signed a deal with China’s Cnooc and Lagos-based South Atlantic ...