STRATEGY AND BEST PRACTICES,ENERGY
Technip Energies | December 19, 2022
Technip Energies (PARIS:TE) has been selected by Renexia to perform the front-end engineering and design (FEED) for the Med Wind floating offshore wind project, located in the Mediterranean Sea, 60 kilometers off the west coast of Sicily.
The scope of work covers the FEED for the 190 floating foundations and moorings for the wind turbines and the conceptual design for the floating offshore sub-stations.
The design of the floating foundation will be based on Technip Energies’ in-house floater technology INO15™, a three-column semi-submersible floater that is well suited to large series production.
Renexia, a subsidiary of Toto Group, is an Italian company specialized in the development and management of renewable energy plants. In April 2022, Renexia completed the Mediterranean’s first marine wind farm in Taranto (Puglia).
The Med Wind project is located in the Strait of Sicily and will have an installed power capacity of 2.8 GW, which is equivalent to powering more than 3 million Italian households.
“We are pleased to have been selected by Renexia for the largest floating offshore wind development in the Mediterranean Sea. By leveraging our in-house technology, combined with our engineering and design capabilities, we are glad to support such a major development which will play a key role in achieving Italy’s ambitious renewable energies development plan and national decarbonization goals.”
-Laure Mandrou, SVP Carbon Free Solutions of Technip Energies
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering. Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: www.technipenergies.com.
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PRODUCTS,MARKET RESEARCH,INDUSTRY UPDATES
NextEra Energy Partners, LP | December 08, 2022
NextEra Energy Partners, LP today announced an offering of $500 million in aggregate principal amount of its convertible senior notes due 2026 (the "notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
Holders may convert all or a portion of their notes at any time prior to their maturity date in principal amounts equal to $1,000 or an integral multiple thereof. Upon conversion, NextEra Energy Partners will pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver, as the case may be, cash, NextEra Energy Partners common units or a combination of cash and common units, at NextEra Energy Partners' election, in respect of the remainder, if any, of NextEra Energy Partners' conversion obligation in excess of the aggregate principal amount of the notes being converted. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by NextEra Energy Operating Partners, LP, a direct subsidiary of NextEra Energy Partners.
NextEra Energy Partners intends to use the net proceeds from this offering to fund a portion of its previously announced acquisition of a 1,080-megawatt net interest in a renewable portfolio, to repay a portion of the borrowings under the corporate revolving credit facility, to pay the initial cost of the capped call transactions described below and for general partnership purposes.
In connection with the offering of the notes, NextEra Energy Partners intends to enter into one or more capped call transactions with the initial purchaser of the notes or its affiliate or other financial institutions. If, upon conversion of the notes, the price per unit of NextEra Energy Partners common units during the relevant valuation period is above an agreed strike price, the capped call transactions are expected to generally result in a payment to NextEra Energy Partners (if the partnership elects to cash settle) or to reduce the potential dilution to NextEra Energy Partners common units (if the partnership elects to settle in NextEra Energy Partners common units).
The offer and sale of notes, the guarantee and NextEra Energy Partners common units, if any, issuable upon conversion of the notes have not been registered under the Securities Act or the securities laws of any other jurisdiction. Accordingly, the notes are being offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act. The notes, the guarantee and NextEra Energy Partners common units issuable upon conversion of the notes are not transferable absent registration or an applicable exemption from the registration requirements of the Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction.
NextEra Energy Partners, LP
NextEra Energy Partners, LP is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE). NextEra Energy Partners acquires, manages and owns contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in geographically diverse wind, solar and energy storage projects in the U.S. as well as natural gas infrastructure assets in Texas and Pennsylvania.
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PRODUCTS,MARKET RESEARCH,INDUSTRY UPDATES
Schneider Electric | December 08, 2022
Schneider Electric, the global leader in the digital transformation of energy management and automation, and ORPC, an internationally recognized leader in marine energy technology, innovation and operational excellence, have signed a memorandum of understanding to collaborate on microgrid projects to advance marine energy as a commercially-viable renewable energy source.
Through this collaboration, ORPC and Schneider Electric will install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers with ORPC’s RivGen Power Systems to provide communities worldwide with highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies.
“The ability to provide exciting, cutting-edge, sustainable solutions, like ORPC’s RivGen Power System, works as part of a portfolio of microgrid systems for our customers. It paves the way to establish marine energy as a commercially viable solution in the renewable energy mix,” said Bala Vinayagam, SVP Microgrid Line of Business from Schneider Electric. “The path to net zero includes many forms of decarbonization and having microgrid systems with ORPC’s technology only widens the impact on what our solutions can provide.”
Schneider Electric and ORPC are already working on implementing this solution in partnership with the remote, tribal community of Igiugig, Alaska. When this project is completed in the summer of 2023, the integrated system will form the grid for the community, moving the existing diesel generators to back-up and enabling the village to operate without diesel for between 60% and 90% of the time. In Igiugig, ORPC’s RivGen Power System has proven successful operating through three winters with temperatures going as low as -40 degrees C. As a result of environmental monitoring of the Igiugig project, comprising hundreds of hours of data, not a single injury or mortality to marine or aquatic life has been observed. Schneider Electric supplied Battery Energy Storage System (BESS) with EcoStruxure Microgrid Operation to enable use of River Gen system for diesel reduction. This is achieved by leveraging the Grid forming capability of the Schneider Electric BESS.
ORPC has already received inbound interest in its power systems from over 40 countries. Schneider’s global operations include offices in over 100 countries which will enable the two companies to build a global pipeline of projects.
‘’Nearly 1 billion people globally have no access to electricity and another 700 million rely on diesel-fueled off-grid systems. These communities pay up to 15 times more for electricity than grid-connected areas do, and deal daily with the noise, poor air quality and environmental risk resulting from diesel fuel use,” said ORPC CEO Stuart Davies. “We are so pleased to join forces with Schneider Electric, recognized as a leader for microgrid technology and sustainability (2022 Verdantix report) to better respond to the market inquiries we’ve been receiving and together provide baseload power solutions to these areas of the world with the greatest need.”
“The combination of ORPC’s RivGen Power System and Schneider Electric’s energy storage and smart microgrid controller can serve as a powerful tool to address climate change. For communities already using diesel generators, this system can provide a baseload energy solution and replacement for existing systems,” said Alexandre Paris, Senior Vice President & COO, ORPC. “Developing economies can build out their electricity networks economically without using expensive, centralized grids reliant on fossil fuels.”
“This partnership is an important step forward in our company’s journey to provide everyone, everywhere with access to clean, reliable electricity from sustainable sources such as marine renewable energy. The combination of Schneider Electric’s microgrid technology and ORPC’s power system solution offers an innovative path to bridge progress and sustainability – and empowers remote communities to help lead the energy transition and preserve the natural environment on which they have built their lives. I am proud of this collaboration and excited to see the new pathways we create together.”
Frederick Morency, VP Sustainability, Strategic Initiatives & Innovation, Schneider Electric.
About ORPC
Headquartered in the U.S., with subsidiaries in Canada, Ireland and Chile, ORPC is a recognized leader in marine energy technology innovation and operational excellence. A developer of clean, renewable power systems that harness energy from free-flowing rivers and tidal currents, ORPC’s rise to a leadership position in the worldwide marine energy industry is based on an impressive record of continuous improvement and success.
In 2021, ORPC was honored as "Innovator of the Year," by the State of Maine’s International Trade Center and has a long track record of prestigious awards dating back more than a decade, including “World’s Top Ten Most Innovative Companies in Energy” by Fast Company (2013), and the National Hydropower Association’s Award for Operational Excellence in 2016 (ORPC is the first marine energy company to receive this award).
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
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