Wind Energy – The News Desk

Sandbrook Capital Raises $2.1 Billion to Back Climate-Infrastructure Deals

14Dec

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World

Sandbrook Capital Raises $2.1 Billion to Back Climate-Infrastructure Deals

Dec. 14, 2023 6:30 am ET|WSJ ProSandbrook Capital has amassed $2.1 billion to invest in renewable-energy businesses, as the private-equity firm shifts its focus to the U.S. with its debut fund after making its first deals in Europe.The Stamford, Conn.-based clean-energy investor wrapped up its Sandbrook Climate Infrastructure Fund I with $1.5 billion, or 50% more than its initial $1 billion goal. The firm also collected slightly over $600 million for related co-investment vehicles, said Kenneth Ryan, a Sandbrook partner. Roughly 35 investors backed the fund, he said. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

8Dec

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Health

John Kerry and CO2 Emissions Reality

Give John Kerry credit for persistence if not realism. President Biden’s climate envoy keeps demanding the end of fossil fuels while the world continues to blow through his apocalyptic warnings. A new report in time for the COP28 climate conference in Dubai says that global CO2 emissions will hit a new peak this year. But Mr. Kerry keeps berating American fossil fuels producers though U.S. emissions are on track to fall 4% in 2023. The big problem: China’s emissions are set to rise by twice as much as the U.S. decline. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Bill for Offshore Wind Power Is Rising

22Nov

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Money

The Bill for Offshore Wind Power Is Rising

With offshore wind projects bleeding cash, governments will have to pay more to hit their clean-energy targets. Recent auctions show just how much more.Higher prices for steel, labor and debt financing have raised the cost of developing a wind farm by almost 40% since 2019. It is a big problem for developers like Danish energy company Ørsted, which signed power supply agreements a few years ago at prices that no longer cover today’s costs.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

17Nov

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World

ESG Roundup: Market Talk – WSJ

Nov. 17, 2023 10:07 am ETThe latest Market Talks covering ESG Impact Investing. Published exclusively on Dow Jones Newswires at 10:00 ET and 17:00 ET.0644 ET – Citi opens a three-month positive catalyst watch on Orsted, with the bank expecting some short-term positive events, analyst Jenny Ping writes. The U.K. autumn statement could extend rules allowing the 50% expensing of investments for tax purposes, while Orsted could move to final investment decision on the U.K. Hornsea 3 wind project before year-end and rebid some of the project’s output to achieve a higher price, Citi says. The bank also says a dividend cut instead of equity raise could be announced as a stop-gap for the balance sheet. “This is a short term catalyst driven view rather than a solid long term investment opportunity...

Copper Market Slump Threatens Shift to Wind Power, Electric Cars

12Nov

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World

Copper Market Slump Threatens Shift to Wind Power, Electric Cars

A prolonged slide in copper prices is challenging the world’s shift to renewable energy sources.Mining firms will need to dig up gigantic amounts of new copper over the next several years to supply the transition to renewables. But demand is slumping right now from manufacturers and builders who use the metal in everything from electrical wire to roofing. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

11Nov

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Money

Copper Market Slump Threatens Shift to Wind Power, Electric Cars

A prolonged slide in copper prices is challenging the world’s shift to renewable energy sources.Mining firms will need to dig up gigantic amounts of new copper over the next several years to supply the transition to renewables. But demand is slumping right now from manufacturers and builders who use the metal in everything from electrical wire to roofing. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

5Nov

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World

Phil Murphy’s New Jersey Wind Flop

Phil Murphy huffed and he puffed, and a giant wind boondoggle blew the New Jersey Governor down. That’s the story of another failed green-energy project, as the follies keep being exposed.The renewable energy firm Ørsted last week backed out of two megaprojects along the Jersey shore that it started planning in 2019. With his eye on support from the climate lobby for a White House run, Mr. Murphy courted the developments, which were meant to provide electricity for hundreds of thousands of homes. The company says cost overruns have made them impossible, and it wrote off $4 billion for the first nine months of this year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Orsted Books $4 Bln Impairments, Walks Away From Two US Offshore Projects

1Nov

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World

Orsted Books $4 Bln Impairments, Walks Away From Two US Offshore Projects

Updated Nov. 1, 2023 3:33 am ETOrsted booked a 28.4 billion Danish kroner ($4.02 billion) impairment charge in the third quarter related to its U.S. offshore wind portfolio and said it will stop development of two wind farm projects off the coast of New Jersey amid spiraling costs and supplier delays.The Danish renewable-energy company had previously warned of up to DKK16 billion of impairments after flagging increasing supply-chain risks at U.S. projects, while a lack of favorable progress on U.S. tax credits and higher interest rates were also sending project costs higher.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

AESL commissions green evacuation transmission project in Tamil Nadu

27Oct

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Business

AESL commissions green evacuation transmission project in Tamil Nadu

Adani Energy Solutions Ltd (AESL), a power transmission company, has announced its successful commissioning of the Karur Transmission Ltd (KTL) project. This project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station and an associated 8.51 circuit kilometres (CKM) transmission line in Tamil Nadu. With a transformation capacity of 1,000 MVA, this project aims to facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone. It also aims to strengthen the southern regional grid and support the integration of renewable energy sources on a large scale. The Karur/Tiruppur Wind Energy Zone is a crucial wind corridor in Tamil Nadu, housing significant wind energy capacities and multiple under-construction wind farms. AE...

ONGC wins bid to acquire PTC India’s wind power unit for Rs 925 crore

23Oct

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Business

ONGC wins bid to acquire PTC India’s wind power unit for Rs 925 crore

Oil and Natural Gas Corporation (ONGC) has won a bid to acquire PTC India Ltd's wind power unit for Rs 925 crore as the state-owned firm continues to build a renewable energy portfolio to balance its fossil fuel business. In a stock exchange filing, India's top oil and gas producer said it has over the years diversified into the petrochemicals and power business besides growing its core business of finding hydrocarbons. ONGC said it has taken various initiatives for renewable energy power generation and already has 189 megawatt (MW) capacity, including wind and solar PV plants spread across various locations. "With a vision to expand its business in renewable energy, the company had participated in the bidding process for acquisition of 100 per cent equity stak...