Addressing climate change remains a top priority for President Obama. The Administration is committed to take action on climate change by continuing to promote the transition to clean energy sources and create good paying jobs. As the President made clear in his Climate Action Plan, he firmly believes that the federal government should lead by example in improving energy efficiency and cutting harmful carbon pollution. Today the Administration is celebrating the achievement of one federal leadership goal, and setting a new one. In 2012, President Obama announced the Department of Defense's (DoD) commitment to deploy three gigawatts on Army, Navy, and Air Force installations by 2025 – enough to power 750,000 homes. Today, in Arlington, Arizona, the Department of Navy, Department of Energy, Sempra Energy, and the White House Office of Federal Sustainability are participating in a ribbon cutting ceremony to announce the operationalization of 210 megawatts of solar power at the Mesquite III facility, the federal government's largest investment in clean energy in history. Mesquite III will supply 14 Navy and Marine Corps installations in California with clean energy, providing one-third of their electricity needs for 25 years at a cost savings of more than $90 million. In addition to announcing a major milestone towards the DoD renewable energy goal, today the Obama Administration is launching another ambitious target – a new goal for civilian agencies to procure and facilitate development of 1 gigawatt of new renewable electricity by 2021. This goal promotes installation of renewable energy on federal land, the development of new solar through power purchase agreements, and procurement of bundled green energy to power federal facilities. Additionally, this target will also incentivize projects on federal land where the government is not the sole user, such as enhanced use leases and facilitation of private development. This goal builds on last year’s goal that 30 percent of electricity used by the federal government will come from renewable sources by 2025, and solar will play a large part. Since 2010, federal agencies have increased use of solar five-fold, with solar now accounting for 19 percent of renewable electricity use and 180 megawatts of onsite power. Federal leadership in deploying renewable energy has contributed to significant progress in deploying solar. When President Obama took office, there wasn’t a single utility-scale photovoltaic (PV) solar plant in America larger than 20 megawatts. But beginning in 2009, the Department of Energy’s Loan Programs Office stepped in to provide more than $4.6 billion in loan guarantees to support construction of the first five utility-scale PV solar facilities in the U.S. larger than 100 MW. Mesquite I was one of those projects. Since those first five solar plants were financed, dozens of utility-scale PV projects have been financed without DOE loan guarantees and are either under construction or already producing clean energy. The dedication of Mesquite III takes the success of these projects even further by demonstrating how government can work together across agencies and with the private sector. From solar to wind, renewables across the board have seen costs drop and deployment increase. Last year, the United States brought online as much solar energy every three weeks as it did in all of 2008, and the solar industry added jobs 10 times faster than the rest of the economy. And since the beginning of 2010, the average cost of a solar electric system has dropped by 50 percent. By leading at the federal level, agencies, both military and civilian are not only reaping the benefits of transitioning to renewable power, but also leading by example.
Alliant Energy Corporation (LNT) announced that it has reached a settlement with customer groups for its proposed new 500 MW New Wind Projects.
Infraestructura Energetica Nova SAB de CV (IEnova), a Mexican subsidiary of Sempra Energy, San Diego, has completed its acquisition of Pemex Transformacion Industrial’s 50% equity interest in the Gasoductos de Chihuahua joint venture for $1.14 billion.
Sempra Energy's (SRE) Mexican unit, Infraestructura Energetica Nova, S.A.B. de C.V. ("IEnova") closed the takeover of Petroleos Mexicanos (PEMEX) Transformacion Industrial's 50% equity interest in Gasoductos de Chihuahua
Pattern Energy Group Inc.(PEGI) announced its plan to acquire a 50% stake in the Ontario, Canada-based Armow Wind power unit from Pattern Energy Group LP
Will Obama's Green Energy Plan Drive Alt-Energy Stocks?
Russia’s Gazprom said on Wednesday that it had received—via diplomatic channels—the first permit from Turkish authorities for the construction of the offshore leg of the Turkish Stream gas pipeline in a sign that Russia and Turkey are definitely re-launching the project. “I would like to commend our Turkish partners for being so prompt and cooperative at the first stage of the TurkStream project,” Alexey Miller, Chairman of the Gazprom Management Committee, said in the company statement. A few weeks after the attempted…
One of the biggest Mexican equity placements in years could soon take place as Infraestructura Energetica Nova (IEnova) is expected to earn at least US$1 billion in a secondary share offering to purportedly take place in October. According to Reuters, three anonymous sources explained that the deal, which has yet to go public, would involve Credit Suisse and JP Morgan to underwrite the offer. Spokespeople for IEnova, Credit Suisse and JP Morgan did not provide comments to Reuters. IEnova, a unit of U.S. firm Sempra Energy, is reportedly hoping…
Sempra Energy's (SRE) unit, Sempra U.S. Gas & Power, closed the sale of EnergySouth, Inc., the parent company of Mobile Gas Service Corp. and Willmut Gas & Oil Company, to Spire Inc. (SR).
Sempra Energy's (SRE) second-quarter 2016 adjusted earnings per share came in at 79 cents, missing the Zacks Consensus Estimate of $1.00 by 21%.
Sempra Energy's (SRE) second-quarter 2016 adjusted earnings per share came in at 79 cents, missing the Zacks Consensus Estimate of $1.00
For gas utilities, the clean burning nature of natural gas has led to a rise in its demand in electric generation.
The Serious Fraud Office (SFO) of the United Kingdom announced today that it would bring up criminal charges against Monaco-based Unaoil over alleged involvement in a major international bribery scandal. “The SFO is conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in connection with suspected offences of bribery, corruption and money laundering,” according to an SFO statement cited by The Guardian. “We have been approached by a number of sources who may have information…
The United States Energy information Administration’s monthly report on domestic shale outputs puts oil production down by 99,000 barrels per day from July to August of this year. The report included production rates from the seven largest shale players in the U.S. market and predicted that the per day barrel count would land at 4.55 million by the end of next month. The Eagle Ford shale site in Texas will suffer the largest downturn, with output slumping by 48,000 barrels in August, the EIA site said. The Bakken shale play, which begins…
Cameron LNG, Sempra Energy’s liquefied natural gas export terminal in Louisiana, has received approval for a planned expansion in the amount of gas it exports to countries that don’t have a free-trade agreement with the U.S. The 1.41 billion cu ft/day increase will bring the terminal’s total to 3.53 billion cu ft/day. Sempra Energy is currently in the process of building the first three liquefaction units, or trains, of Cameron LNG. For the expansion, it will build another two trains, plus a fifth full-containment LNG tank. The…
Sempra Energy (SRE) has received approval from the U.S. Department of Energy ("DoE") to increase the export capacity of the Cameron LNG facility.
Southern California Gas Co. ("SoCalGas"), a regulated subsidiary of diversified energy company, Sempra Energy (SRE),announced the opening of a compressed natural gas ("CNG") station in the Pico Rivera warehouse and distribution district to the public