With energy transition in mind, Houston, Texas based SPAC “CO2 Energy Transition Corp” targeting the carbon capture, utilization, and storage industry filed to go public. The company plans to raise up to $80 million in an initial public offering by offering 8 million units at $10 the SEC filed showed. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, CO2 Energy Transition Corp. would command a market value of … Continue reading “Houston SPAC CO2 Energy Transition filed IPO Targeting Carbon Capture”
Wind and Solar Energy Operator Enlight Renewable Energy Downsized IPO Debuts
Enlight Renewable Energy, which operates wind and solar energy projects in Israel, Europe, and the US, raised $252 million by offering 14 million shares at $18. The company had previously been indicated to raise $293 million from the offering. Enlight is the second sizable renewables company to IPO in the US this week; solar tracking equipment company Nextracker (NXT) upsized and rose 26.9% on its Thursday debut. Enlight Renewable Energy listed on the Nasdaq under the symbol ENLT. ENLT IPO Highlights … Continue reading “Wind and Solar Energy Operator Enlight Renewable Energy Downsized IPO Debuts”
Solar Tracking Tech Company Nextracker Upsized IPO Debuts Up 27%
Investors excitement around energy transition was borne out in the successful upsized IPO from Flex Ltd (FLEX) spinout Nextracker Thursday on its public listing. The company, which will trade under the ticker NXT sold 14% more shares and raised 28% more in proceeds than its original terms. Nextracker provides integrated solar tracker and software solutions to enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. NXT raised $638 million by … Continue reading “Solar Tracking Tech Company Nextracker Upsized IPO Debuts Up 27%”
UK Natural Gas Prices Rise 5% in 2022, 77% off Panic Highs Seen in March
UK Natural Gas prices finished the year well off their highs with a gain of just 5% on the year at 180 GBP/Thm at the end of 2022 and 77.5% off the highs in March. In an extremely volatile year that caused havoc on millions of British citizens and financial markets, after Russia’s invasion of Ukraine and the subsequent Western sanctions disrupted supplies to the European region. Natural gas prices in the UK are well below the intraday-record level of … Continue reading “UK Natural Gas Prices Rise 5% in 2022, 77% off Panic Highs Seen in March”
NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal
NRG Energy Inc. on Tuesday said it agreed to buy Vivint Smart Home Inc., for $2.8 billion in cash the assumption of $2.4 billion of the company’s debt for a total deal value of $5.2 billion. NRG, which produces and sells energy services, said it would pay $12 a share for Vivint, a 33% premium to Vivint’s closing share price on Monday. NRG is effectively betting on the smart device market by buying $VVNT which offers integrated home systems that … Continue reading “NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal”
Shell to Buy Danish Biomethane Producer in $2 Billion Deal
Shell PLC is expanding its renewable energy portfolio buying Denmark’s Nature Energy Biogas A/S it said Monday. Nature Energy is Europe’s biggest producer of biomethane from organic waste. The renewable fuel can replace conventional natural gas in heavy road and marine transport, industry and heating. Shell’s acquisition follows BP agreeing to buy U.S. biogas producer Archaea Energy Inc. for $3.3 billion plus debt, for a total of $4.1 billion six weeks ago. Chevron Corp. earlier this year paid $3.15 billion … Continue reading “Shell to Buy Danish Biomethane Producer in $2 Billion Deal”
Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs
Algonquin Power & Utilities reported a larger than forecast Q3 adjusted loss and cut its full-year earnings guidance on Friday. The release saw $AQN shares fall 19.2% to its lowest in four-and-a-half years in Friday’s trading. The utility cited challenging macroeconomic conditions and construction delays which it expects will continue into next year. The company said higher interest rates cost it $23.3M during the quarter, and the timing of tax incentives relative to some of its renewable energy projects cost … Continue reading “Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs”
Renewables Sources Make Up 13% of Global Power Generation in 2021
The power generation blend in 2021 shows coal is still the dominant source with 36%, natural gas has increased to almost 23%. Every other major generation source of the mid-1980s has lost relative share and not all to gas. Renewable power is the other big improver, wind, solar, geothermal, biomass and small hydropower has grown from 0.8% of the world’s electricity mix to 13%. Renewables had just 0.8% market share globally in 1985. In 1985, coal-fired power was 38% of global electricity … Continue reading “Renewables Sources Make Up 13% of Global Power Generation in 2021”
China Overtakes Europe as World’s Biggest Renewable Electricity Generator
China’s transition into a major economy has been relentless and with that its energy consumption. While China is the largest user of natural gas and coal it has also evolved to become the world’s largest renewable energy generator. In 2016 China surpassed the US and reached close to 60% of Europe’s total renewable generation. In 2021 China overtook Europe, adding almost 290 terawatt-hours of total renewable electricity generation in one year. Last year, Japan and India generated a combined 302 terawatt-hours. … Continue reading “China Overtakes Europe as World’s Biggest Renewable Electricity Generator”
Crypto Wrap Up: Bitcoin & Ethereum Collapse, US CBDC and Russia Ban Crypto
This week’s Crypto Wrap KnovaWave & Meta Johnny discuss a big week for crypto, the collapse of Bitcoin and Ethereum and alt coins heads us off. They discuss the use Of Bitcoin in South America and The US Fed’s paper on CBDC. The story behind the banning of Crypto in Russia and China as geopolitical tension hits fever pitch. Ethereum Money and Payments: The U.S. Dollar in the Age of Digital TransformationJanuary 2022 Executive Summary For a nation’s economy to … Continue reading “Crypto Wrap Up: Bitcoin & Ethereum Collapse, US CBDC and Russia Ban Crypto”