Report: Nearly 80% of EU Coal Units Operate at a Loss
The post Report: Nearly 80% of EU Coal Units Operate at a Loss appeared first on POWER Magazine.
A new report from a group that studies the impact of climate change on financial markets recommends that European Union (EU) governments move to phase out coal-fired power generation completely by 2030 in order to avoid even-greater economic damage.
Carbon Tracker, a London, UK-based group supported by foundations in Europe and the U.S., on Oct. 24 released its Apocoalypse Now report. The study said European utilities could lose as much as $ 7.3 billion in 2019 from operations of coal-fired power plants. The group said nearly 80% of coal units in Europe are not economic, up from about 46% of units just two years ago.
Matt Gray, head of Power & Utilities for Carbon Tracker, in an email to POWERsaid, “In this report, we explain the financial implications of recent changes to EU coal power economics. In doing so, we argue EU policymakers and investors need to prepare for no hard coal or lignite generation by 2030.…
Restructuring Report: Eskom ‘Fundamentally Insolvent, Permanently Impaired’
The post Restructuring Report: Eskom ‘Fundamentally Insolvent, Permanently Impaired’ appeared first on POWER Magazine.
Eskom, South Africa’s state-owned utility that produces nearly 90% of the African powerhouse’s electricity, is saddled with liabilities, unavoidable expenses, and stranded costs that exceed $ 113 billion, and for various reasons, it is “fundamentally insolvent, permanently impaired, and will never be a true going concern enterprise under its current legal, operational, and governance structure,” concludes a report recently issued by an independent chief restructuring officer (ICRO).
The bombshell two-volume report issued on Oct. 17 by Abu Dhabi–based consulting firm CRO Advisers—a firm that specializes in restructuring and recapitalization of sovereign government assets—was authored by the firm’s chairman, K.W. Miller, whom Eskom stakeholders appointed as ICRO advisor. As part of its independent restructuring analysis, CRO Advisers sought to assess the financial and operational health of South Africa’s Treasury as it relates to Eskom, as well as Eskom’s own governance, credit risk, and quantification. As Miller told POWER on Oct.…
You Didn’t Land Your Dream Job. Now What? – Harvard Business Review
You Didn’t Land Your Dream Job. Now What? Harvard Business Review
“job” – Google News…
Dominion Solar, Wind Projects Will Power Virginia Government Buildings
The post Dominion Solar, Wind Projects Will Power Virginia Government Buildings appeared first on POWER Magazine.
Dominion Energy has entered a partnership with the commonwealth of Virginia in which government-owned buildings and facilities in the state will get power from Dominion’s solar and wind energy projects.
The agreement, signed by Dominion and Virginia Gov. Ralph Northam on Oct. 18, is the largest procurement of renewable energy to date by the state as part of Northam’s plan to power the whole of state government with clean energy.
The deal includes a 75-MW wind project—the first onshore wind farm in Virginia—along with four proposed solar farms with total generation capacity of 345 MW. The projects are expected to come online in stages over the next three years, if all are approved.
The governor’s office said the new generation, along with previously announced solar projects, should produce enough power to support as much as 45% of the state government’s annual energy use. The agreement comes after Northam in September announced that state government agencies would lead the commonwealth’s push for renewables.…