Finance

Following a difficult period for the renewable energy industry, firms must begin prioritising foreign exchange (FX) risk management against the rising threat of currency movements. It has been a tough year for the renewable energy industry. The post-COVID inflationary pressures that have gripped the global economy over the last two years are weighing heavily on […]

Three interregional transmission lines connecting six U.S. states will receive the first $1.3 billion tranche of $2.5 billion in federal funding designated under the Transmission Facilitation Program (TFP), a revolving fund enacted by the 2021 Bipartisan Infrastructure Act. The U.S. Department of Energy (DOE) Grid Deployment Office’s (GDO’s) first picks under the TFP, unveiled on […]

PORTLAND, Ore. – NuScale Power Corporation (NuScale or the Company) (NYSE: SMR) today issued the following statement in response to a misleading short-seller report on October 19, 2023 (the Report). The inaccurate and deceptive “research” is riddled with speculative statements with no basis in fact and demonstrates a limited understanding of small modular nuclear reactors […]

Seven regional hydrogen hubs spanning Appalachia, California, the Midwest, the Gulf Coast, the American heartland, the Mid-Atlantic, and the Pacific Northwest are poised to receive $7 billion in Infrastructure Investment and Jobs Act (IIJA) funding under the Department of Energy’s (DOE’s) Regional Clean Hydrogen Hubs Program (H2Hubs). The selections, unveiled by the Biden administration on […]

Maria Korsnick, president and CEO of the Nuclear Energy Institute (NEI), the policy organization of the nuclear technologies industry, suggested a bipartisan majority in Congress recognizes the importance of nuclear energy and has supported the industry with unprecedented levels of funding. As an example, Korsnick pointed to the Bipartisan Infrastructure Law, which provided a $6 […]

Planning, building, operating, or overhauling power plants has long been an emphasis in the power sector—and an important one, given that the creation of new power capacity plays an outsized role in

Although there is a risk of energy shortfalls in parts of the U.S. if extreme summer temperatures materialize, there is no stopping the clean energy transition that is sweeping the nation. Energy storage

The U.S. Department of Energy (DOE) announced the first round of awardees of the Milestone-Based Fusion Development Program. The program is the latest in a series of efforts designed to align public and private sectors toward fusion commercialization. “The Biden administration obviously sees enormous potential in fusion—harnessing the power of the sun and the stars […]

A project to deploy the first NuScale 462-MWe VOYGR-6 nuclear power plant in Romania by 2029 has garnered a $275 million public-private funding commitment from the U.S., Japan, South Korea, and the United Arab Emirates (UAE) as part of a global infrastructure partnership. The Romanian project may be bolstered by an additional $4 billion outlined […]

Nuclear has re-invented itself as a compelling pathway to achieving net-zero. It is said that everything is cyclical—where there are periods of expansions and contractions. Could this be true of nuclear energy? Can the benefits outweigh the fears and flip the switch from decommissioning to accelerated growth? In the late 1960s, federal nuclear energy programs […]

Sunnova Energy Corp., an energy-as-a-service (EaaS) provider, has snagged a first-of-its-kind conditional federal loan guarantee commitment of up to $3 billion for a project that could further future virtual power plant (VPP) deployment. The Department of Energy (DOE) Loan Programs Office (LPO) on April 20 said it would provide a partial loan guarantee for up […]

U.S. utility Entergy and global power giant RWE are partnering to jointly assess the best means to develop an offshore wind market in the Gulf of Mexico. The two companies on March 30 unveiled a memorandum of understanding (MoU) under which they will analyze the Gulf of Mexico offshore wind market and define an optimal […]

Last Energy, a U.S.-based micro modular nuclear technology firm and project developer, has secured power purchase agreements (PPAs) for 34 PWR-20 small modular reactor (SMR) units with four industrial partners in the UK and Poland. The deals, which represent a combined $18.9 in power sales, mark “the largest pipeline of new nuclear power plants under […]

Power companies across the nation are being pressured to retire fossil-fueled power plants and transition to cleaner energy resources. But many existing fossil plants have not been completely paid off or

Siemens Gamesa chief executive Jochen Eickholt acknowledged equipment failures in both the company’s onshore and offshore wind turbines, leading to higher warranty provisions, contributed to a nearly $1 billion net loss for the company in the last three months of 2022. Eickholt on Feb. 2 said the company’s October to December—the group’s fiscal first quarter—loss […]

While 2021 provided its own share of extraordinary energy debacles, Russia’s invasion of Ukraine in early 2022 cascaded into full-blown energy turmoil. This year will begin with the world “in the midst of

The groundbreaking Inflation Reduction Act (IRA) will put hundreds of billions of dollars toward renewables. As the most comprehensive energy policy in recent years, the IRA is already having a profound impact

GE Hitachi Nuclear Energy (GEH) has submitted a Generic Design Assessment (GDA) entry application for its BWRX-300 small modular reactor (SMR) to UK authorities, kicking off a key regulatory process that could give the advanced nuclear technology a competitive edge as the country races to potentially triple its nuclear capacity to up to 24 GW by […]

The European Investment Bank Group (EIB Group) said it will support an initial investment of €30 billion ($30.2 billion) in loans and equity financing to move the European Union (EU) away from fossil fuels and toward cleaner forms of energy over the next five years. The EIB board of directors on Oct. 26 said a […]

War rages in Europe. Natural gas prices are through the roof. Drought threatens hydro production. Weather extremes are becoming commonplace. Supply chains are strained. Demand for electricity is headed

The Biden administration has launched efforts to shape the $2.5 billion Transmission Facilitation Program (TFP), a key Infrastructure Investment and Jobs Act (IIJA) initiative dedicated to building out critical new transmission lines and related facilities across the country. The Department of Energy’s Grid Deployment Office on May 10 issued a joint notice of information (NOI) […]

A Goldman Sachs private equity business is taking a stake in critical industry cybersecurity firm Fortress Information Security. The $125 million investment underscores a heightened awareness of supply chain vulnerabilities within the investor community. Fortress, which announced the investment from Goldman Sachs Asset Management Private Equity on April 19, said it also highlights a wider […]

Investor-owned electric companies are thoroughly reviewing the Securities and Exchange Commission’s (SEC’s) broad new proposed rule that requires registrants to disclose climate-related risks and governance, and plan to remain engaged with the regulatory agency as the rulemaking continues. The proposed rule, which the SEC approved 3–1 on March 21, has drawn intense interest from the […]

It is not an over-reaction to state that we are in the midst of a planetary emergency. We face the combined threats of climate, nature loss, and human health pandemics. Of the nine planetary boundaries that

GE’s first earnings release after the American conglomerate last November announced it would combine and spin-off its Renewable Energy, Power, and Digital business suggests flagging orders for onshore and offshore wind equipment and gas turbines amid a business environment wrought with uncertainty. GE on Jan. 25 reported revenues of $15.7 billion for its Renewable Energy business, […]

Environmental, social, and governance (ESG) efforts are factoring into merger and acquisition (M&A) deal activity within the power and utilities sector across North America, according to a report issued by PwC, a professional services firm serving the “Trust Solutions and Consulting Solutions” segments. “As policies are clarified and ESG strategies are strengthened, broad investor interest […]

A leaked draft of the European Commission’s proposal to label some natural gas and nuclear power plants as “transitional” or “green” investments has prompted pushback from some European Union (EU) members. Criticism is also mounting in South Korea, where liquefied natural gas (LNG) was included in its new green taxonomy guidelines—but nuclear was left out. […]

The fog of uncertainty that hangs over the global power industry is getting larger and denser as generating companies and utilities navigate ever more complex challenges.

If you’ve paid attention to the cleantech news cycle this year, you know it’s been a roller-coaster ride. I’ve been in the cleantech/energy transition sector for 20 years and wrote the first history on the term cleantech 15 years ago. I’ve seen the many ups and downs surrounding the industry. Today’s current playing field is […]

TORONTO – (Dec. 14, 2021) – eLeapPower, a technology innovator revolutionizing electric vehicles – inside and outside – with its Smart Inverter System, announced today that it raised $21 million CAD in Series A funding. The round was led by a consortium of pension funds and BDC Capital’s Cleantech Practice. eLeapPower’s initial contract is with […]