Egypt was recently forced to divert natural gas from LNG export projects to domestic power generation and industrial sectors, and there is no relief in sight. One of the major challenges facing leadership are the substantial energy subsidies that keep gasoline prices below market levels, which is a common issue throughout the region. Keeping the… Keep reading →
The 377 MW Ivanpah solar plant started up in California today amid controversy over wildlife apparently killed by the intense heat emitted from the solar receivers located on top of the facility’s “power towers.” 3,500 acres of specially-designed mirrors focus the sun’s radiation on the towers, which convert water to steam used to spins power-generating… Keep reading →
The changing utility business model in the face of distributed generation market acceptance is a major theme so far in 2014, and Google’s Nest acquisition is a clear signpost on this transitional landscape. It’s becoming increasingly clear that to lead the way in the new power generation and delivery space, utilities need to decide whether… Keep reading →
Not so long ago, DistribuTECH was a trade show focused on core Transmission & Distribution (T&D) engineering equipment. The shift in the last few years has been dramatic and the event now resembles a high tech, Silicon Valley conference. Our industry, like many others, has become a digital one. While it is one of the… Keep reading →
Because they just hit a venture capital home run with Google’s acquisition of Nest. Despite recent mainstream media reports, cleantech venture capital is alive and kicking at the start of 2014. Just ask Peter Nieh and the cleantech team at Lightspeed, KPCB’s Randy Komisar, Venrock’s David Pakman or Shasta Ventures’ Rob Coneybeer. That group, along… Keep reading →
Google acquired smart thermostat startup company Nest for $3.2 billion in cash. Nest had been working on a reported $150 million financing round that would have valued the firm at $2 billion. CEO Tony Fadell – a former Apple SVP – said on the company’s blog “We’ve had great momentum, but this is a rocket… Keep reading →
Tesla and Edison are one of energy history’s great duos. Both have granted their names and legacies to companies and entire fields of study, employment and business. But unlike some more distant figures of the past, people are still arguing about which was more important and which more inventive. At a time when innovation is… Keep reading →
“You’d think the thrill might wear off this whole renewable energy investing thing after a while. Nope—we’re still as into it as ever.” This week, Google announced an $80 million equity investment in six solar photovoltaic projects being developed by Recurrent Energy in Arizona and California. The deal marks the company’s 14th investment since it started eyeing project-level… Keep reading →
Warren Buffett’s Berkshire Hathaway bought 40.1MM shares of ExxonMobil for $3.45bln, and now holds about 0.9% of the company’s stock. UK’s BG has sold additional interests in its Queensland Curtis LNG project in Australia to China National Offshore Oil Corp. for $1.93 billion, and to supply the state-controlled Chinese firm with an additional 5 million tons per year of LNG… Keep reading →
Google and private equity firm KKR are investing $400 million, including equity and debt financing, in six solar power plants being built by a subsidiary of Japan’s Sharp Corp. The projects have a combined capacity of 106 megawatts and should begin operating by January. [Reuters] The Tennessee Valley Authority is retiring eight units at three… Keep reading →
