Distress and Deals Continue to Persist in Energy Sector
The post Distress and Deals Continue to Persist in Energy Sector appeared first on POWER Magazine.
At the end of last year, the power market began to lose steam. The credit market wasn’t as strong as it was at the start of the year and many people began speculating “doom and gloom” for the market. However, over the last few months, the power market has picked up and is beginning to show resiliency. As we explore below, there has also been a healthy amount of merger and acquisition (M&A) activity, highlighting that investor confidence is returning, even if only slightly.
The second quarter (Q2) of 2019, in particular, saw strong deal value compared to Q1, according to a recent report from PwC. The report notes that although overall deal volume decreased in Q2, deal value increased by nearly 55%, making it the highest-value quarter since Q2 2018. This was influenced by the absence of mega-deals ($ 5 billion or more) for the fourth consecutive quarter.…
Small Modular Reactors Gain Momentum in Europe
The post Small Modular Reactors Gain Momentum in Europe appeared first on POWER Magazine.
GE Hitachi Nuclear Energy (GEH) and NuScale Power, two leading companies in the race to build small modular reactors (SMRs) for power generation, have recently announced deals that could result to new plants being constructed in Europe.
Feasibility Studies in Estonia
GEH on Oct. 3 said it had signed an agreement with Fermi Energia OÜ, an Estonia-based company established by nuclear industry professionals to support the development of SMRs. The two companies will collaborate on potential deployment applications for GEH’s BWRX-300 SMR design. GEH said the companies will examine the economic feasibility of constructing a BWRX-300 in Estonia, review siting requirements, and assess nuclear regulatory requirements.
The BWRX-300 is a 300-MWe water-cooled, natural circulation SMR with passive safety systems. According to GEH, the BWRX-300 leverages the design and licensing basis of the U.S. Nuclear Regulatory Commission (NRC)-certified Economic Simplified Boiling Water Reactor (ESBWR), which is a 1,520-MWe Generation III+ unit (Figure 1).…
Reports: Perry Will Resign as Head of DOE
The post Reports: Perry Will Resign as Head of DOE appeared first on POWER Magazine.
Several news outlets on Oct. 4 report that Energy Secretary Rick Perry could step down from that role as soon as November.
The Washington Post on Friday said Perry plans to step down by year-end and return to the private sector. The Post cited four unnamed individuals who it said had been briefed on Perry’s plans. The Politico news outlet late Thursday reported that Perry plans to leave the Department of Energy (DOE) next month.
Shaylyn Hynes, a DOE spokeswoman, in an email to media said: “While the Beltway media has breathlessly reported on rumors of Secretary Perry’s departure for months, he is still the Secretary of Energy and a proud member of President Trump’s Cabinet. One day the media will be right. Today is not that day.”
Should Perry resign, he would be the latest of about a dozen Cabinet members to leave their positions during the Trump administration.…