Corporate

Natural Gas Deal Market Fires Up

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Drilling for natural gas in Pennsylvania will continue to expand unabated if a pair of substantial independent energy firms have their way. Noble Energy and CONSOL Energy said today they have a partnership agreement in place that will boost their drilling rigs in the state’s Marcellus Shale from four to sixteen in the next four years.

Noble Energy will pay $1.07 billion for a 50% interest in CONSOL’s 663,350 net undeveloped acres of natural gas properties in Pennsylvania and West Virginia as part of a total deal worth $3.4 billion to CONSOL. Noble will pay development costs up to a $400 million cap each year, with funding linked to the price of natural gas. Noble is paying for the deal out of its cash and currently untouched revolving credit facility. Keep reading →

 /  Published August 18, 2011 at 12:05 PM

Seeking Scale For Energy Innovations

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High energy prices have unleashed a wave of energy innovation around the world, says GE Energy Financial Services Managing Director of Venture Capital Kevin Skillern on this video.

Shot by GE for its Ecomagination series on people, profits and the planet, this video features a recent GE partnership with electric company NRG Energy and oil and gas giant ConocoPhillips to establish a $300 million fund that is currently investing in 30 emerging energy firms. The firm takes a heterodox approach to investing, taking positions in firms across the sector and focusing on the prospects for scaling and transforming the energy business on a global scale. Keep reading →

 /  Published August 18, 2011 at 6:00 AM

First Solar Shakeup

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In an industry as young as solar energy, all management transitions are big news and every departure is treated with seriousness.

With many of the companies working at times of inflection in the industry, key management personnel are central to leveraging still-emerging technology and balancing the short-term needs of investors and customers with the longer-term needs of government stakeholders. Keep reading →

 /  Published August 18, 2011 at 6:00 AM

Deal Pressure Continues As Power Sector Consolidates

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Though power companies have traditionally owned entire supply chains from generation to transmission and distribution, recent decades have brought about increased fragmentation and specialization.

But as talk of smart grid and electric vehicles increases, power companies and utilities are recombining along the supply, delivery and service chains, trying to improve efficiency and remove unnecessary kinks from operations. Keep reading →

 /  Published August 17, 2011 at 11:00 AM

From Washington To Istanbul

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Energy markets are becoming increasingly international as companies in developed economies look overseas for potential innovation testing beds. Meanwhile, up and coming countries may be vying just as much for the valuable opportunities to leverage technology and jobs investment from abroad.

With 8% economic growth in 2010 alone, and double digit growth in the first half of 2011–much of it in the manufacturing sector–Turkey’s electrical grid is stretched thin, members of the US Embassy in Turkey’s commercial service division told AOL Energy. To meet the projected 6-8% future increase in electricity demand, the Turkish government is planning to install smart grid projects and partner that with 30% clean generation capacity by 2023, said the embassy’s Energy Business Leader Serdar Cetinkaya. Keep reading →

 /  Published August 17, 2011 at 6:00 AM

Mixed Wind Sector Weighs On Chinese Results

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Though China is renowned for its booming renewables sector and strong government investments, some Chinese manufacturing companies have been hurt by slowed international appetite for turbines.

Chinese wind and solar manufacturing company Cleantech Solutions International blamed its weak second quarter financial results on a slowing wind sector that has been receiving less government support in recent months. Net income dropped by nearly a third in the second quarter of 2011–from $3 million during the same quarter in 2010 to $1.2 million this year–and total revenue dropped from nearly $19 million in Q2 2010 to $12.6 million in the quarter ending in June 30, 2011, the company reported on August 15. Keep reading →

 /  Published August 16, 2011 at 4:00 PM

BPA upgrades designed to address #renewable #energy integration

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BPA upgrades designed to address #renewable #energy integration http://bit.ly/ogxxAK @NAWindpower

 /  Published August 15, 2011 at 12:20 PM

Cisco Lasers In On Smart Grid Applications

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The smart grid market is showing some strength as it consolidates and major players stake out their desired territory.

Hardware company Cisco, which launched various IP-based smart grid devices in 2009, announced on Wednesday that it would begin to focus its efforts on smart grid software instead. Keep reading →

 /  Published August 12, 2011 at 6:00 AM

Gov. Peter Shumlin issued the following statement regarding NRC’s letter on Entergy’s decommissioning obligations http://1.usa.gov/pDIF8J

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Gov. Peter Shumlin issued the following statement regarding NRC’s letter on Entergy’s decommissioning obligations http://1.usa.gov/pDIF8J @vermontgov

 /  Published August 11, 2011 at 11:15 AM

SunPower Builds Cash Pile As Losses Mount

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As prices for individual photovoltaic (PV) panels fall and company revenue numbers drop, solar power may be facing a long and difficult transition on the path towards grid parity.

Released Tuesday morning, SunPower’s second quarter 2011 results illustrate the broader struggles that is many of the players in the global solar business. The company lost $147.9 million for the quarter, as compared with only a $2.1 million loss the in the first quarter of 2011 and a $6.2 loss million in the second quarter of 2010. Keep reading →

 /  Published August 11, 2011 at 9:45 AM
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