Corporate News
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Meta to procure 374 MW of clean energy from RWE solar farms
The tech conglomerate has signed two power purchase agreements with the German energy company to build on its sustainability goals.
By Zoya Mirza • Aug. 16, 2024 -
Permission granted by Oklo
Oklo’s microreactor project pipeline jumps 93% ahead of 2027 planned deployment
Data centers account for 600 MW of Oklo’s roughly 1,350 MW in business currently under negotiation with customers, CEO Jacob DeWitte said on the company’s Q2 2024 earnings call.
By Brian Martucci • Aug. 15, 2024 -
Explore the Trendline➔
Kevork Djansezian via Getty Images
TrendlineSustainability
Companies are pursuing increasingly ambitous sustainability goals around clean energy, but integrating rising amounts of renewables, minimizing environmental impacts, and achieving carbon reduction targets can be challenging.
By Utility Dive staff -
FirstEnergy to pay $19.5M to settle Ohio’s HB 6 bribery investigations
The utility company also has a pending settlement with the Securities and Exchange Commission related to the scandal.
By Ethan Howland • Aug. 14, 2024 -
Permission granted by Viridi Energy
Waste-to-RNG projects closed out first half of 2024 largely on target
Executives from WM, BP and Republic Services reported project progress during recent earnings calls. Many had a positive tone despite uncertainty from interconnection delays and recent Supreme Court rulings.
By Jacob Wallace • Aug. 13, 2024 -
Adeline Kon/Utility Dive
Ørsted, Mission Clean Energy to build 1 GW of grid storage in MISO territory
Each of the four projects being installed in the Midcontinent Independent System Operator’s Central and Northern regions will have 800 MWh to 1,200 MWh of capacity.
By Brian Martucci • Aug. 13, 2024 -
Permission granted by NuScale Power, LLC
AI, manufacturing spur SMR interest, but project complexity weighs on deals: NuScale
CEO John Hopkins expressed optimism over a bipartisan nuclear support law and a new DOE solicitation on SMRs amid efforts to close deals with U.S. data center operators.
By Brian Martucci • Aug. 12, 2024 -
Sean Gallup via Getty Images
Blackstone acquires majority stake of renewables engineering firm
While the terms of the deal with Westwood Professional Services were not disclosed, a Blackstone executive said its energy transition business has committed $1.3 billion in investments since June.
By Lamar Johnson • Aug. 12, 2024 -
Felipe Rodriguez via Getty Images
Algonquin Power sells renewable energy business for $2.5B
The agreement marks the first move of a three-part plan to become a pure-play regulated utility, CEO Chris Huskilson said.
By Emma Penrod • Aug. 12, 2024 -
Bennett Raglin via Getty Images
Bill Gates-backed energy investment firm pulls in $839M for new climate fund
Breakthrough Energy Ventures’ third fund will have an investment focus similar to that of its predecessors and target five key areas in climate innovation, including energy and transportation.
By Zoya Mirza • Aug. 9, 2024 -
Gerville via Getty Images
59 GW in data center load seeking to connect to Oncor’s system: CEO
Nearly three-fourths of new interconnection requests are coming from data centers, Oncor officials said.
By Emma Penrod • Aug. 8, 2024 -
Courtesy of Qcells
Qcells scores $1.4B DOE loan guarantee for Georgia solar factory
The money will help build one of the country’s largest ingot and wafer plants, expected to begin production later this year.
By Kate Magill • Aug. 8, 2024 -
Courtesy of Sunrun
Sunrun storage attachment rate jumps to 54% as CEO cheers rising VPP potential
The company also announced a partnership with Tesla Electric to support the Texas grid during peak demand periods.
By Brian Martucci • Aug. 8, 2024 -
aimintang via Getty Images
Constellation raises 2024 profit guidance amid PJM load growth, tighter power supplies
Higher output, less downtime and nuclear production tax credit revenue boosted the company’s second-quarter financial performance.
By Brian Martucci • Aug. 8, 2024 -
Zach Gibson / Stringer via Getty Images
Dominion says ratepayers will be insulated from PJM capacity auction impacts
Despite the PJM Interconnection’s 2025/26 capacity auction seeing record high prices, Dominion Energy has the “natural hedge” of its own generation, said CEO Bob Blue.
By Diana DiGangi • Aug. 7, 2024 -
Justin Sullivan via Getty Images
SunPower files for bankruptcy, plans to sell or wind down remaining operations
SunPower, a leading residential solar installer, has encountered a “severe liquidity crisis” and must sell its assets to pay down more than $2 billion in debts, company officials said.
By Emma Penrod • Aug. 7, 2024 -
Courtesy of Panda Power
Quantum in $3B deal to buy Cogentrix, with its 5.3 GW of gas generation, from Carlyle
Quantum says it plans to “meaningfully grow” Cogentrix, which owns power plants in New England, PJM and Texas.
By Ethan Howland • Aug. 6, 2024 -
Stock Photo via Getty Images
Cleveland-Cliffs moves ahead with $150M electric transformer plant
The electric industry is facing a transformer supply shortage, which the widespread adoption of AI will continue to exacerbate, according to Cleveland-Cliffs President and CEO Lourenco Goncalves.
By Joelle Anselmo • Aug. 6, 2024 -
Permission granted by Schneider Electric
Schneider Electric’s Q2 revenue in North America soars amid growth in energy management
Energy management revenue organically rose 15.5% year over year, to nearly $3.4 billion in North America, despite contending with supply chain challenges, the company said.
By Nish Amarnath • Aug. 6, 2024 -
Justin Sullivan via Getty Images
HEI, Hawaiian Electric to pay $2B in pending Maui wildfire settlement
The proposed agreement will provide Hawaiian Electric Industries and its utility subsidiary with financial certainty, Scott Seu, HEI president and CEO, said.
By Ethan Howland • Aug. 5, 2024 -
gorodenkoff via Getty Images
Xcel Energy draws 6.7 GW of data center requests, including from Meta and Microsoft
The company will likely need to build new generation assets and transmission in order to supply these requests, CEO Bob Frenzel said during a Thursday earnings call.
By Emma Penrod • Aug. 5, 2024 -
Courtesy of Georgia Power
US nuclear policy gains boost fuel supplier Cameco as Q2 earnings jump 157%
The Canadian uranium producer sees long-term order growth as clean energy demand rises and U.S. nuclear operators seek alternatives to Russian supplies
By Brian Martucci • Aug. 2, 2024 -
imaginima via Getty Images
PJM capacity auction to lead to double-digit rate hikes for Exelon utilities: CFO
When asked about possible power plant ownership, Exelon President and CEO Calvin Butler said, “We're working with our [state utility] commissions on all types of scenarios.”
By Ethan Howland • Aug. 2, 2024 -
The image by FirstEnergy is licensed under CC BY-ND 2.0
FirstEnergy seeks alternatives to PJM capacity market to bolster power supply
“I'd call yesterday's [PJM auction results] the canary in the coal mine, and the canary didn't make it,” Brian Tierney, FirstEnergy president and CEO, said.
By Ethan Howland • Aug. 1, 2024 -
pidjoe via Getty Images
OpinionWhy energy-transition innovators need a sound patent strategy — and how to build one
Identifying existing IP early in the innovation process helps companies evaluate the viability of their project. It also affords them greater leverage to negotiate potential licenses, agreements and business collaborations.
By Hilary Preston and Eric Klein • Aug. 1, 2024 -
Gerville via Getty Images
AEP data center and other commercial sales soar 12.4% in Q2
American Electric Power’s peak load could jump 43% by the end of this decade, to 50 GW, based on current data center commitments, according to the company.
By Ethan Howland • Aug. 1, 2024
