TransCanada agrees to sell its Ontario solar facilities for $540M

pennenergy.com | October 25, 2017

TransCanada Corporation has entered into an agreement to sell its Ontario solar portfolio comprised of eight facilities with a total generating capacity of 76 megawatts to Axium Infinity Solar LP, a subsidiary of Axium Infrastructure Canada II Limited Partnership, for approximately $540 million.

Spotlight

NEFCO has financed two renewable energy projects in the Lviv region; a wind power station in Staryi Sambir and a solar station in Ternovytsa.


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ENERGY

Supporting the Low-carbon Development of Automotive Industry, GWM Opens Over 1,000 New Energy Vehicle Patents

GWM | June 18, 2022

Recently, the data released by AutoPat, the global automotive patent big data platform, shows that GWM opened over 1,000 new energy vehicle technology patents last year. This year, GWM has opened 1,301 new energy vehicle patents and authorized 914 patents, ranking first among vehicle enterprises in the Chinese market. According to a report also released by this website, with GWM taking the lead, the number of patents open to the market by Chinese finished vehicle enterprises has grown rapidly, which has caught up with or surpassed foreign-funded vehicle enterprises in the Chinese market. For many years, GWM has continuously increased investment in new energy vehicle R&D and established diverse development paths by launching hybrid and pure electric vehicles. To accelerate the iteration and upgrading of new energy products, GWM has developed the L.E.M.O.N. DHT technology. It is a highly integrated petrol-electric hybrid system that applies to models with power architectures of PHEV or HEV. The models of both architectures can provide a longer, more powerful and comfortable driving experience for consumers. WEY Coffee 01, which adopts the PHEV architecture, is equipped with a high energy density power battery pack, with relatively longer pure electric range. In daily usage, this configuration could reduce the number of charges and helps users feel free from the trouble of frequent charging to the maximum extent. This car can also automatically switch into the mode with a combined power output of fuel and electric energy to allow drivers to speed up with enough power for overtaking when driving at high speed. In order to meet global diverse buyers' demands for more economical and environmentally friendly driving, GWM launched HAVAL JOLION HEV and HAVAL H6 HEV in the Thai market. Supported by the L.E.M.O.N. DHT, the two models can fulfill the low fuel consumption needs in different road conditions. when drivers encounter traffic congestion during rush hours, the system can switch to electric power to minimize fuel consumption. GWM also makes various technological achievements in the pure electronic vehicle field, such as electric drives and electric controls. Among them, the L-type long battery cells have been applied to various models of the ORA brand successfully in China market. Now, GWM adheres to the concept of " Excessive Investment and Precise R&D". According to the 2022 GWM financial report, GWM invested CNY 9.07 billion in the R&D of new energy and intelligent technologies last year. To meet the goal of global carbon neutrality, GWM will keep expanding the layout for new energy products in the future. The company has planned to launch dozens of new energy vehicles in the coming years to bring a greener and more intelligent driving experience to customers around the globe.

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SUSTAINABILITY

Greenwave Technology Solutions Issues 2022 Chairman’s Letter

Greenwave Technology Solutions | January 14, 2022

Greenwave Technology Solutions, Inc. is pleased to issue the following letter to shareholders from Greenwave Chairman and Chief Executive Officer, Mr. Danny Meeks: Dear Greenwave Shareholders, I’m pleased to report that Empire Services, Inc., which Greenwave acquired last fall, generated more than $27 million in revenue during the year ended December 31, 2021, exceeding the $24 million annual revenue goal we set in September 2021. We aim to further accelerate our revenue growth this year by rapidly expanding our footprint of metal recycling facilities. Our 11th location opened in Virginia Beach in mid-October 2021 and is just now starting to meaningfully contribute to our overall metal volumes and revenues – and we expect by that later this year, our Virginia Beach location will have grown into one of our busiest and most profitable locations. By the end of January, we expect to open our 12th location in Fairmont, NC, for which we’ve already secured the licenses and permits, and is the first of many scrap metal facilities that we plan to open or acquire this year. Earlier this week, BlackRock, Inc. disclosed it had accumulated 5.3% of the outstanding ordinary shares of Sims Metal Management[1], the parent company of our largest customer, following BlackRock CEO Larry Fink’s assertion that the next 1,000 companies that will reach a billion-dollar valuation will be focused on green hydrogen, green agriculture, green steel, and green cement. The scrap metal industry is ripe for a roll-up as it will likely result in a significant margin expansion as we enter into what Goldman Sachs called a “commodities supercycle”. As a public company with 31,000 shareholders, Greenwave is positioned to move quickly and aggressively to roll-up independent, profitable metal recycling facilities as a pure play on green steel. We are in the final stages of preparing our formal application to uplist Greenwave to the NASDAQ or NYSE, as we believe a listing on a national exchange would result in a significant increase in visibility, liquidity, and institutional interest for our stock. We have had discussions with many potential board members, all experts in their respective fields, and we expect to begin expanding our board in the coming weeks with seasoned, respected leaders who will help take our company to the next level. Further, we believe Greenwave can meet the listing standards of a national exchange without any additional capital raises. In a January 11, 2022 Research Report, “Metals Watch: Aligned for the next leg higher,” Goldman Sachs raised its price targets for aluminum, copper, and zinc, driven by depleted inventories, robust demand, and inflationary pressures. In this context, we believe now is the optimal time for a roll-up of metal of recycling facilities. Demand for prime metallic scrap is expected to increase by approximately 41% from current levels to 29.6 million gross tons by fiscal year 2025. At the same time, the supply of prime steel scrap has been shrinking consistently for more than 50 years, according to a Steel Research Associates, LLC Scrap Model. Greenwave’s management believes that this supply/demand imbalance will continue to cause rising prices for scrap metal for at least the next 5-7 years. It is also important to note the significant environmental benefits of recycling steel. Unlike plastics and other materials, steel is able to be melted and re-cast countless times as it has no structural memory. Recycling steel, rather than using virgin materials, cuts CO2 emissions by approximately 75% while utilizing approximately 70% less energy. Currently, two out of every three tons of steel produced comes from recycling, up from one out of every ten tons in 1980. Greenwave’s management has set aggressive expansion and revenue goals for the coming year as we begin rolling-up independent, profitable metal recycling facilities. With a significant supply/demand imbalance for recycled steel expected to continue through at least 2025, we believe prices for metals will continue to remain strong for the foreseeable future – especially with many projects under the recently passed Infrastructure Investment and Jobs Act beginning construction. I am incredibly grateful to both our long-term and new shareholders for their continued trust in my leadership as we look to maximize shareholder value and take Greenwave to the next level.

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Xinhua Silk Road: Seraphim completes 72MW PV module production for Citicore

Xinhua Silk Road | March 31, 2022

Seraphim Energy Group Co., Ltd. (Seraphim), a leading global solar product manufacturer, has recently completed PV module deliveries of 72 MW to Citicore Power Inc. (Citicore), a well-known community-focused renewable energy company in the Philippines. According to Seraphim, Citicore placed an order for up to 72 MW of its monofacial modules with a maximum power output of up to 540/545W in July 2021. The PV modules were scheduled to be delivered between October 2021 and January 2022 while the official commission date is estimated to be October 2022. "This is an important solar industry procurement deal which is a testimony to Seraphim's exponential growth in the Philippines, The Philippines is well positioned for solar energy in terms of geography as it enjoys abundant sunlight, and with reliable local partners, we have already shipped over 200MW solar modules in the past two years. I believe that this cooperation with Citicore will help us further increase our strength in the Philippines and in Southeast Asia as a whole" - Polaris Li, president of Seraphim. Seraphim has specialized in research, development, production, innovation and sales of PV products since its foundation in 2011. To date, more than 14GW Seraphim's products have been installed in over 40 countries worldwide. At present, Citicore is one of the leading players in the solar energy space of the Philippines with a combined installed generating capacity of 170 MW. Citicore produces clean and pure renewable energy straight from the solar generation plants across the Philippines through Citicore Renewable Energy Corporation (CREC).

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SUSTAINABILITY

XCMG Pushes for Carbon Neutrality within Its Operating Boundaries by 2049

XCMG | February 22, 2022

XCMG releases a program of action (PoA) for peak carbon and carbon neutrality, detailing planning, implementation and actual safeguard measures of sustainable transformation paths — including low-carbon transformation of energy consumption structure, green and intelligent manufacturing integration and upgrade, emissions reduction with supply chain alliance and digitalized, intelligent advancement. The PoA also specifies XCMG's short-, mid- and long-term targets in achieving "dual carbon" goals, that by 2035, power generated from renewable energies will account for 50 percent of XCMG's total electricity use, product penetration of new energy products will thrive to exceed 35 percent, and the carbon footprint of key products including excavators and cranes will be reduced by 32 percent compared to 2020. The action plan for 'dual carbon' goals aims to establish a uniform and precise approach in terms of strategy to help XCMG in building a green value chain with innovation-enabled, low-carbon intelligent construction machinery solutions achieved through technology, manufacturing, service and operation management, and we're committed to making great contributions to the sustainable development of society." Wang Min, Chairman and CEO of XCMG The PoA elaborated on XCMG's long-term vision of going green and low-carbon and key missions that are already carried out actively to explore engineering technologies in the hope of creating net-zero carbon values for global construction: New energy, low-carbon technologies and products: XCMG has developed more than 50 items of green, energy-saving core technologies, building production clusters of new energy and low-carbon products as well as pilot unmanned, intelligent application scenarios. Green and intelligent manufacturing: XCMG has three green factory demonstration companies accredited by the Ministry of Industry and Information Technology of People's Republic of China and one green supply chain demonstration company, XCMG Hosting Machinery is the industry's first company to pass the level-4 certification of intelligent manufacturing capability maturity. XCMG also took the lead in establishing two green design product standards. Green supply chain: continues to promote energy conservation, emission reduction, recycling, green and low-carbon management throughout the supply chain, paying more attention to product life, energy consumption, hazardous substances and abandonment management. XCMG has recycled over 10,000 packaging materials in the recent two years. Reducing energy consumption and emissions: XCMG has built a smart, full lifecycle energy management system. In 2020, the company's energy consumption per 10,000 yuan of output value has been reduced by 29.3 percent compared to data from 2015. The construction of centralized collection and treatment facilities for fumes and dust is covering all of the welding areas, and the company has invested over US$47.4 million to reinforce VOC emissions in coating over the past three years. Short term, XCMG aims to reduce comprehensive energy consumption per unit by 15 percent and carbon emission by 26 percent by the end of 2025, compared with 2020. By 2027, XCMG aims to reach peak carbon within its operation boundaries and lower comprehensive energy consumption per unit by 18 percent and carbon emission per unit output by 31 percent compared to 2020. Total energy consumption wise, XCMG expects to grow self-generating photovoltaic power and wind power seven-fold, and market penetration of new energy products will reach 25 percent. In the long term, XCMG strives to be carbon neutral within its operation boundaries by 2049, promoting emission reduction of upstream and downstream enterprises across the industry chain and establishing a low-carbon, clean, safe and efficient green energy system with internationally advanced energy utilization efficiency.

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