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Siemens Details Spinoff of Energy Business

May 26, 2020

The post Siemens Details Spinoff of Energy Business appeared first on POWER Magazine.

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The parent of Siemens Energy on May 26 provided details of the planned spinoff of the company’s energy business, saying 55% of Siemens Energy will be spun off to Siemens’ shareholders. The company said Siemens shareholders would automatically receive one share of Siemens Energy AG for every two shares they own of the parent, Siemens AG.

The company in its news release Tuesday said Siemens AG plans to further reduce its stake in the new business within 12 to 18 months of the effective date of the spinoff. The company, like others in the power generation business such as General Electric and ABB, has been restructuring its operations as the global energy landscape continues to evolve, with an increased emphasis on renewable power and a lessening of dependence on fossil fuels. ABB in late 2018 announced Hitachi would acquire more than 80% of the company’s Power Grids unit in an $ 11 billion deal.…

Clean Energy Sector Sheds 106,000 Jobs in March

April 16, 2020

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The renewable energy sector has been hit hard by the coronavirus pandemic, with more than 106,000 U.S. workers losing their jobs last month, according to an analysis of unemployment data released April 15 from several clean energy groups.

Wednesday’s report said hundreds of thousands more job losses in the sector are expected in the next several months due to the impact of COVID-19 lockdowns and quarantines, which have disrupted supply chains and created project delays worldwide.

The analysis of Department of Labor data by groups including E2 (Environmental Entrepreneurs), the American Council on Renewable Energy (ACORE), E4TheFuture, and BW Research Partnership found that 106,472 workers in clean energy occupations filed for unemployment benefits in March. Those job losses wiped out all 2019 job gains in the clean energy sector, which includes renewable energy, energy efficiency, clean vehicles, energy storage, and clean fuels.

Jobs lost include electricians, HVAC and mechanical trades technicians and construction workers who work in energy efficiency; solar installers; wind industry engineers and technicians; and manufacturing workers employed by electric and other clean-vehicle manufacturing companies and suppliers.…

The POWER Interview: GenCell’s CEO on Importance of Clean Energy

March 25, 2020

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The coronavirus pandemic is expected to slow the growth of renewable energy in 2020, owing to supply chain disruptions and an economic recession. It could make hitting targets for clean energy adoption more difficult, particularly in the short term.

Will government officials look to adjust their goals for renewable energy? Perhaps, but with most of the targeted goals 10 or more years away, it’s likely they will take the long view, with adjustments happening down the road depending on market conditions.

Rami Reshef, CEO of GenCell, an Israel-based fuel cell technology company, in a recent interview with POWER talked about the importance of renewable energy, including fuel cells, which convert potential chemical energy into electrical energy and generate heat as a by-product. While chemical energy is stored inside batteries, fuel cells can continuously generate electricity as long as they are supplied with fuel (hydrogen) and an oxygen supply.…

Wind Energy Group Says $43 Billion at Risk from COVID-19

March 23, 2020

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Energy groups continue to assess the industry disruption caused by the coronavirus, with the American Wind Energy Association (AWEA) on March 19 saying the global pandemic is putting $ 43 billion of wind industry investments and payments at risk.

Utilities, grid operators, and other have been altering their routines as state and local governments call for the closures of many non-essential businesses. Energy companies have instituted travel bans, have shuttered their offices—asking many employees to work remotely—and changed how they will interact with customers.

Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, earlier this week said the virus has caused “a pretty significant crisis” for the solar industry, disrupting supply chains and likely creating labor shortages. Tom Kiernan, CEO of AWEA, on Thursday acknowledged the challenges the coronavirus is causing for the wind energy industry, going so far as to ask for Congress to intervene to protect jobs and economic investment in the sector.…

The POWER Interview: Google, Utilities Partner for Energy Solutions

March 10, 2020

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Businesses are putting more emphasis on sustainability, coordinating their operations to ensure financial success while also being mindful of environmental concerns. Investors in many cases are demanding companies embrace sustainability, which often includes being more efficient in their use of energy.

That’s one reason behind the growth in distributed power generation, as companies develop their own systems—often utilizing renewable power—to have more control over their energy use and its cost. Several of these companies have told their stories, and provided information about their commercial and industrial power installations, at POWER’s Distributed Energy Conference.

This year’s conference is scheduled for Oct. 19-21 in Chicago, Illinois. Sustainability will again be part of the agenda, with businesses discussing how they are developing programs to address financial, social, and environmental concerns.In the corporate world, it is sometimes referred to as the triple bottom line.

Google, the Silicon Valley-based search engine giant, has become a leader in sustainable business practices, purchasing renewable energy to match its global power consumption.…

The POWER Interview: Vicinity CEO Discusses District Energy

February 25, 2020

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The rise of distributed, or decentralized, power generation has been supported by district energy, the generation from facilities and associated distribution networks supplying steam or hot water, chilled water, and electricity for heating and cooling to millions of square feet of building space across the U.S. and around the globe. District energy is among several focus areas for POWER’s Distributed Energy Conference, which this year is scheduled for Oct. 19-21 in Chicago, Illinois.

Among the newest district energy providers—at least in name—is Vicinity Energy, a company recently launched by Antin Infrastructure Partners after Antin’s purchase of Veolia North America’s district energy assets in the U.S. Vicinity, headquartered in Boston, Massachusetts, immediately became North America’s largest provider of district energy. The company is supplying energy and related services across 13 networks in 10 major cities, including large networks in Boston; Philadelphia, Pennsylvania; Baltimore, Maryland; and Kansas City, Missouri.…