finance

California-based Renewable Properties, a developer and investor in small-scale utility, community solar, energy storage, and EV charging infrastructure projects, announced that it has increased its existing corporate capital facility with funds managed by AB CarVal by $40 million to a total of $120 million. The funds will be used to secure new project opportunities and […]

Alphabet, the parent of technology giant Google, has announced a definitive agreement to acquire Intersect, which provides data center and energy infrastructure solutions, for $4.75 billion in cash, plus the assumption of debt. Google already owns a minority stake in Intersect from a previously announced funding round.

The power and utility sector underpins every part of modern life, from residential comfort to industrial productivity. Yet, as the global energy landscape evolves, so must the internal operations that keep these organizations running. COMMENTARY With total U.S. power use expected to reach around 4,189 billion kWh in 2025, and 4,278 billion kWh in 2026, […]

As businesses wait for artificial intelligence to mature, there is an opportunity to start implementing the data and functionality that is readily available now. Planning and delivering a complex, multi-billion dollar capital project creates a trove of actionable data and insights, if teams are able to manipulate the data to reveal these insights. The detail […]

As the presidential inauguration loomed on the horizon in January this year, the U.S. Department of Energy’s (DOE’s) Loan Programs Office (LPO) published a “year-in-review” article, highlighting accomplishments from 2024 and looking ahead to the future. It noted that the previous four years had been the most productive in the LPO’s history. “Under the Biden-Harris […]

At the 2023 United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, last December, 25 countries underlined the role of nuclear energy in their climate strategies by issuing a

In approving the development of a 2,800-acre wind farm across prime agricultural land in the east of England, the UK Secretary of State for Energy Security and Net Zero, Ed Miliband, has confirmed what those who understand renewable market dynamics have known all along: That the UK’s energy transition policymaking has been flawed and riven […]

The UK government has picked Wylfa in Anglesey, North Wales, as its preferred site for the country’s third large-scale nuclear power plant after Hinkley C in Somerset and Sizewell C in Suffolk. The Department of Energy Security and Net Zero (DESNZ ) on May 22 unveiled the site as its “first choice” for the project […]

The U.S. government offers certain benefits to renewable energy projects, primarily in the form of tax credits and depreciation. But the reality is that a growing number of tax-equity partnerships are reaching the end of their lifespan, and the sponsors and tax-equity investors in these projects need to be preparing for the future. In fact, […]

NRG Energy has appointed the chair of its board of directors, Dr. Lawrence Coben, as its interim president and CEO and appointed four new independent directors to its board, signaling a major leadership reshuffle partly influenced by activist investor firm Elliott Investment Management. The Houston-headquartered energy giant on Nov. 20 said Mauricio Gutierrez, NRG’s long-time and […]

The Federal Energy Regulatory Commission (FERC) has approved key transmission reforms aimed at clearing a staggering backlog of more than 10,000 generation and storage projects—more than 2,000 GW—stalled in interconnection queues across the country. Order 2023, a final rule unanimously adopted by FERC’s four commissioners at a July 27 open meeting and posted in full […]

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 […]

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

NET Power will combine with Rice Acquisition Corp. II (RAC II), a decarbonization solutions special purpose acquisition company (SPAC), in a new business direction designed to accelerate the deployment of NET Power’s much-watched novel natural gas–fired power plant technology. When the business combination transaction closes as expected in the second quarter of 2023, the new company, […]

The Department of Energy’s (DOE’s) first official loan guarantee for a new clean energy technology project since 2014 will go to the Advanced Clean Energy Storage 1 project in Utah—one of the world’s largest renewable hydrogen energy projects.  The DOE on June 8 announced it closed on the $504.4 million loan guarantee for the first […]

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

If you’ve seen the musical “Cabaret,” you know that “money makes the world go ‘round” in a variety of ways. While it may not indeed make the power and energy sectors “go ‘round,” money does

A report from Morgan Stanley, a global wealth management company, said coal-fired power generation is likely to disappear from the U.S. power grid by 2033, largely displaced by renewable energy resources. The report published Feb. 1 said renewable energy such as solar and wind power will provide nearly 40% of U.S. electricity in 2030, and […]

It was about a year ago that COVID-19 gained the world’s attention. The first laboratory-confirmed case of COVID-19 in the U.S. was reported to the Centers for Disease Control and Prevention on Jan. 22

The last few months have seen the power sector plagued with enduring lower power prices, exacerbating the continued negative impact on power generation companies and electric utilities. There are a number of

By Brad Handler and Morgan Bazilian Nearly 75%  of electricity generated from coal in the U.S. could be produced more cheaply with renewables, strengthening the environmental arguments to accelerate the retirement of coal plants. Yet such transitions to renewable sources have to factor in the costs—incremental, stranded and most pressingly, societal—of shutting down existing plants, […]

Strengthens Balance Sheet and Demonstrates Confidence in Operations Enhances Financial Flexibility for Continued Strong Project Execution and Pursuit of New Opportunities New Capital Commitment Provided By Certain Existing Lenders and Shareholders HOUSTON, Nov. 18, 2020 /PRNewswire/ — McDermott International, Ltd (“McDermott” or the “Company”) today announced that it has secured approximately $560 million in new capital […]

Key Facts National Rural Utilities Cooperative Finance Corporation (CFC) selected FIS Commercial Lending Suite to consolidate loan origination and back office servicing. FIS Commercial Lending solution will consolidate CFC’s legacy lending systems into one fully integrated front to back solution JACKSONVILLE, Fla., October 28, 2020 – Financial technology leader FIS® (NYSE:FIS) today announced that it […]

Traditional models have been upended by recent disruptions, including decarbonization, decentralization, and even the COVID pandemic, but new ones are replacing them that focus on customer preference

Deal-making in the North American power and utilities sector fell for the third year in a row in 2019, and total deal value shrank by 41% compared to 2018, indicating a sustained sluggish financial interest in the sector, according to PricewaterhouseCoopers (PwC). The international accounting firm’s newly released “North American Power & Utilities deals insights […]

Africa has a number of power supply challenges, many of which can be overcome with renewable energy. Foremost among the options is hydropower. While large projects can meet stiff resistance in the development

The U.S. Environmental Protection Agency (EPA) will act on a spate of power plant rules over the next year, its newly released agenda of regulatory and deregulatory actions shows. The May 23-released “Spring 2019 Agenda of Regulatory and Deregulatory Actions” lists 35 new actions, along with 57 actions that it considers “deregulatory.” The list includes new […]

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 […]

CenterPoint Energy, a Houston, Texas-based natural gas and electric utility company with sales and services operations in more than 30 states, on April 23 said it would buy Evansville, Indiana-based Vectren in a deal valued at more than $8 billion, including the assumption of more than $2 billion in Vectren debt. Both companies in statements […]