New Jersey based Public Service Enterprise Group (PSEG) has announced the sale of its 13 fossil-fuel generating plants for approximately $1.92 billion to private equity firm ArcLight Capital Partners, LLC. It is undetermined if the plants will close under the new ownership. The sale, expected to be completed by end ... Read more »
The industrial sector will lead a boost in US retail sales of electricity in 2021, according to a forecast from the EIA. US retail electricity sales will jump 2.8% this year, help in large part by a 5.1% increase in sales to the industrial sector.
In a U.S. first, the state of Maine has passed legislation – bill LD99 – directing the $17 billion Maine Public Employee Retirement System (PERS) to divest $1.3 billion from fossil fuels within 5 years and directs the Treasury to do the same with other state funds. The move makes ... Read more »
The Asia Investor Group on Climate Change (AIGCC), backed by 13 institutional investors responsible for $8.8 trillion in assets under management (AUM), has launched to engage with key Asian electric utilities on cutting emissions, strengthening disclosures and improving governance of climate-related risks. The new program complements the current engagement efforts ... Read more »
As businesses grapple with return-to-work strategies – office, fully remote, hybrid? – a new UK study finds that a 32-hour work week could help fight climate change by reducing emissions more than 20%. Using data from numerous government and academic sources, the report illustrates that shifting to a four-day working ... Read more »
It’s the dead of night in mid-February 2021. Power is out. Water pipes are frozen.Outside temperatures hover in the single digits. Like an apocalyptic scene, the landscape is white and completely devoid of any hint of electric power. Who was to blame for this abrupt return to the Stone Age?
The production of power transformer equipment has gathered robust pace in recent years. Incessant demand for reliable power supply is a known factor worldwide, driving consistent investments in upgrading grid infrastructure. The gross electricity consumption across the globe is set to register an annual rise of nearly 2%, and renewable energy generation can be expected to form a notable part
The Global Green Data Center Market size is expected to reach $142.8 billion by 2026, rising at a market growth of 19.7% compound annual growth rate (CAGR) during the forecasted period.
Renewable energy expansion at US utilities is on track to eclipse prior years and is expected to continue to demonstrate strong commitment to infrastructure spending over the next several years, according to a new S&P Global Market Intelligence analysis. Projected renewable energy investments are forecast to reach $13.94 billion in 2021, then rise an estimated 5% in 2022 to $14.59
Wells Fargo says it will purchase more than 58 megawatts of solar capacity from a planned solar project in North Carolina. When the Blackburn Solar project comes online, the power generated is expected to offset about 50% of the bank’s energy usage in the state.
California is adding batteries to its electrical grid at a frantic pace: the state is said to be adding 1,700 megawatts of new battery capacity to the grid this year, in the hopes of avoiding a repeat of last summer’s rolling blackouts, BloombergBNEF reports. To put it in perspective: that’s more battery capacity than all of China.
It is difficult and costly to try and “engineer” a way out of increasingly extreme and damaging weather scenarios, Paul DeCotis, a senior director in the energies and utilities practice at West Monroe, told Environment + Energy Leader. For Texas utilities, generators, and ERCOT, for example, no amount of preparation could have prevented the level of disruption seen across the