Finance

52-MWac FL Solar 5 project to produce low-cost, renewable electricity for Reedy Creek Improvement District NEW YORK–(BUSINESS WIRE)–Wells Fargo (NYSE: WFC) announced it has committed the capital in construction debt, as well as the tax-equity funding of $35 million for the new solar generation facility, known as FL Solar 5 in Orange County, Florida. This […]

Electric cooperatives in the U.S. have vastly accelerated solar power installments. Today, they own or purchase more than nine times as much solar photovoltaic (PV) power as they did in 2013, a new report says.   The report, “A Solar Revolution in Rural America,” was prepared by the National Rural Electric Cooperative Association (NRECA), a […]

For the first time since it began conducting sector outlooks, Moody’s Investors Service has downgraded the regulated utility sector from stable to negative. The new outlook reflects a surge in financial risks in the sector as more individual companies in the regulated space funnel funds to debt. Using an analysis of 42 of the largest […]

Geothermal energy is a growth business. Several countries, such as Kenya and Indonesia, are rich in geothermal resources, and others such as Chile, Mexico, and the Philippines are looking to rapidly develop

FirstEnergy Corp. will close four uneconomic nuclear units—a total of 4 GW—in Ohio and Pennsylvania between 2020 and 2021, the company’s competitive arm notified PJM Interconnection on March 28. FirstEnergy Solutions (FES) told the regional transmission organization that it will close the 908-MW Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, by 2020; the twin-unit […]

Markets may currently favor natural gas, but coal, which has been diminished for “good reason,” will likely have a significant place as a reliable fuel for power generation, a diverse panel of U.S. coal experts—including a generator, a supplier, and a market analyst—suggested at CERAWeek by IHS Markit in Houston on March 7. Coal lost […]

GE has launched a three-part strategy to address a dismal outlook for its power division that will involve operating in a “leaner, more cost-efficient way,” the company’s head told investors in a February 26 letter. The multinational conglomerate’s long-standing and lucrative GE Power business unit’s earnings plunged 45% in 2017 owing to costly operational misses […]

One of the most important items on President Trump’s first-year agenda was the implementation of tax reform in the U.S. Republican lawmakers worked tirelessly as the calendar year drew to an end to get a new

Westinghouse Electric Co., a company that is emerging from a bankruptcy stemming from the half-built AP1000 reactor projects in Georgia and South Carolina, is to be acquired from Toshiba Corp. by business services and industrials company Brookfield Business Partners. Brookfield, a company of Toronto-headquartered Brookfield Asset Management, announced on January 4 that it entered into […]

New Jersey’s full Senate is scheduled on January 4 to vote on a bill to subsidize two of the state’s nuclear power plants. However, industry observers posit that the measure won’t clear the full Assembly before the state legislature’s lame-duck session ends on January 9. S.3560 was introduced on December 14 after a preliminary hearing earlier […]