CPS Energy

Quidnet Energy Announces 300 MW Strategic Partnership and $10M Investment from Hunt Energy Network

Retrieved on: 
Mercoledì, Maggio 22, 2024
Partnership, ARPA, GES, ERCOT, HEN, Acquisition, Helmerich, CPS Energy, History, Renewable energy

HOUSTON, May 22, 2024 (GLOBE NEWSWIRE) -- Quidnet Energy , a pioneer in long-duration energy storage solutions, today announced a strategic partnership with a $10 million investment from Hunt Energy Network (HEN) , a leader in energy storage and part of an affiliation of companies with experience in subsurface development.

Key Points: 
  • HOUSTON, May 22, 2024 (GLOBE NEWSWIRE) -- Quidnet Energy , a pioneer in long-duration energy storage solutions, today announced a strategic partnership with a $10 million investment from Hunt Energy Network (HEN) , a leader in energy storage and part of an affiliation of companies with experience in subsurface development.
  • The partnership will pair Quidnet’s long-duration energy storage with Hunt Energy Network’s success in developing storage projects and Hunt Energy’s subsurface technologies similar to Quidnet’s GES.
  • “Hunt Energy Network brings an extensive and proven track record across diverse energy businesses, making them an ideal partner to address the need for large-scale, long-duration energy storage in Texas,” said Joe Zhou, Chief Executive Officer of Quidnet Energy.
  • Visitors to the show can learn more about the partnership with Hunt Energy Network and Quidnet Energy’s technology at booth 922.

Talen Energy Reports First Quarter Results, Increases 2024 Guidance for Remaining Fleet and Announces Upsizing of Share Repurchase Program to $1 Billion

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Lunedì, Maggio 13, 2024
Share repurchase, Tax, CDT, EDT, Sale, ERCOT, CPS Energy, Webcast, Plant, Security (finance)

The new range for 2024 Adjusted EBITDA is $600 to $800 million, and the new range for Adjusted Free Cash Flow is $160 to $310 million.

Key Points: 
  • The new range for 2024 Adjusted EBITDA is $600 to $800 million, and the new range for Adjusted Free Cash Flow is $160 to $310 million.
  • In October 2023, the Board of Directors approved a share repurchase program authorizing Talen to repurchase up to $300 million of the Company's outstanding common stock through December 31, 2025.
  • In May 2024, the Board authorized an upsizing of the remaining capacity under that program to $1 billion.
  • Talen's current net leverage ratio, utilizing the midpoint of 2024 Adjusted EBITDA guidance and net debt balances as of May 6, 2024, is approximately 1.2x.

CPS ENERGY CLOSES ON PREVIOUSLY ANNOUNCED ACQUISITION OF TALEN ENERGY GAS PLANTS IN CORPUS CHRISTI AND LAREDO

Retrieved on: 
Mercoledì, Maggio 1, 2024
CPS, Talen, Investment, City, Solar energy, RBC Capital Markets, ERCOT, Kirkland & Ellis, Employment, Plant, Wind, Retirement, Climate change mitigation, Acquisition, SAN, CPS Energy, Renewable energy

These assets include natural gas plants in Corpus Christi and Laredo, Texas.

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo, Texas.
  • CPS Energy and Talen previously announced the transaction on March 27, 2024.
  • "This step marks CPS Energy's growing role as a regional energy utility, providing additional resiliency and reliability for our customers," said Rudy D. Garza, president and CEO of CPS Energy.
  • Talen President and Chief Executive Officer Mac McFarland said, "We are pleased to have completed our strategic transaction with CPS Energy.

CPS ENERGY CLOSES ON PREVIOUSLY ANNOUNCED ACQUISITION OF TALEN ENERGY GAS PLANTS IN CORPUS CHRISTI AND LAREDO

Retrieved on: 
Mercoledì, Maggio 1, 2024
CPS, Talen, Investment, City, Solar energy, RBC Capital Markets, ERCOT, Kirkland & Ellis, Employment, Plant, Wind, Retirement, Climate change mitigation, Acquisition, SAN, CPS Energy, Renewable energy

These assets include natural gas plants in Corpus Christi and Laredo, Texas.

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo, Texas.
  • CPS Energy and Talen previously announced the transaction on March 27, 2024.
  • "This step marks CPS Energy's growing role as a regional energy utility, providing additional resiliency and reliability for our customers," said Rudy D. Garza, president and CEO of CPS Energy.
  • Talen President and Chief Executive Officer Mac McFarland said, "We are pleased to have completed our strategic transaction with CPS Energy.

CPS Energy to Power its Operations with Oracle Cloud

Retrieved on: 
Martedì, Aprile 30, 2024
Cloud, HR, City, Water, CPS Energy, Oracle, Asset management

AUSTIN, Texas, April 30, 2024 /PRNewswire/ -- Oracle today announced that CPS Energy plans to standardize its mission critical technologies on a single, modern Oracle cloud platform. By integrating data and processes across the utility, CPS Energy can optimize its operations and enhance service for its 1.3M customers. This collaboration supports the utility's Vision 2027 strategic plan designed to provide rapid transformational change to the City of San Antonio while delivering on its commitment to be a trusted and reliable community partner.

Key Points: 
  • AUSTIN, Texas, April 30, 2024 /PRNewswire/ -- Oracle today announced that CPS Energy plans to standardize its mission critical technologies on a single, modern Oracle cloud platform.
  • By integrating data and processes across the utility, CPS Energy can optimize its operations and enhance service for its 1.3M customers.
  • With Oracle's utility-proven portfolio of cloud applications for finance, operations, HR, customer service, and capital projects, CPS Energy can better serve its customers while increasing efficiency and innovation.
  • With our complete cloud platform for utilities, CPS Energy can benefit from connected data and tools to help improve how they do business and serve customers for years to come."

UniFirst completes rooftop solar panel projects to advance Companywide conservation and sustainability goals

Retrieved on: 
Lunedì, Aprile 22, 2024
UniFirst, Solar energy, Carbon, LED, UNF, CO2, CPS Energy, Renewable energy

Combined, the solar power systems boast over 2,000 high-efficiency solar panels, promising substantial long-term benefits including clean energy, reduced emissions, and significant lifetime utility savings.

Key Points: 
  • Combined, the solar power systems boast over 2,000 high-efficiency solar panels, promising substantial long-term benefits including clean energy, reduced emissions, and significant lifetime utility savings.
  • By investing in solar energy and other sustainable initiatives, UniFirst is actively reducing our environmental impact and carbon footprint as well as benefiting from long-term energy cost reductions."
  • In its pursuit of achieving its sustainability goals, UniFirst leaned on San Antonio-based HOLT Renewables for its expertise and understanding of Austin Energy's solar incentives to successfully implement solar at UniFirst's industrial laundry facility in Austin.
  • UniFirst also tapped HOLT Renewables to install a 337.92kWdc rooftop array at their industrial laundry facility in Stockton, CA.

Atmos Energy Hits Highest Customer Satisfaction Score Since 2018, as Energy Utilities See Gains, ACSI Data Show

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Martedì, Marzo 19, 2024
Oil, Gas, Energy, Residential Building & Real Estate, Construction & Property, Utilities, Atmos, Atmos Energy, Electricity, Natural gas, PG&E, Consolidated Edison, CenterPoint Energy, Environment, Associate, Dominion Energy, National Grid, CPS Energy, NextEra Energy, ACSI, University, Entergy, DTE Energy, Marketing, NiSource, Complaint, Michigan State University, Berkshire Hathaway Energy, Multimedia, Weather, Renewable energy

Following four years of flat performance, residential customer satisfaction with the energy utilities industry rises 4% to an ACSI score of 75 (out of 100), according to the American Customer Satisfaction Index (ACSI®) Energy Utilities Study 2023-2024 , as improvements across the customer experience outweigh concerns about rising utility rates.

Key Points: 
  • Following four years of flat performance, residential customer satisfaction with the energy utilities industry rises 4% to an ACSI score of 75 (out of 100), according to the American Customer Satisfaction Index (ACSI®) Energy Utilities Study 2023-2024 , as improvements across the customer experience outweigh concerns about rising utility rates.
  • “However, despite the current momentum, energy utilities will continue to face challenges beyond their control, like extreme weather events that cause longer power outages.
  • Municipal energy utilities move into second place after surging 6% to 75, just ahead of investor-owned utilities, which climb 3% to 74.
  • Five utilities share second place at 77: Berkshire Hathaway Energy (up 4%), Dominion Energy (up 5%), Duke Energy (up 5%), NextEra Energy (up 3%), and Southern Company (up 3%).

ARPA-E Announces Innovation Agreement Outlining Vision for the Future of Electrified Airports at Technology Expo Hosted in San Antonio

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Mercoledì, Aprile 3, 2024
Karma, Moses Austin, MOU, EV, Business, EEL, ARPA-E, Partnership, Natural Resources, Air travel, SAN, City, Research, UTSA, CPS Energy, San Antonio International Airport, Aviation, Transport, University, Hope, ARPA, Aircraft, Multimedia, DOE, Stinson Municipal Airport, Renewable energy

SAN ANTONIO, April 3, 2024 /PRNewswire/ -- Today, the U.S. Department of Energy (DOE) Advanced Research Projects Agency-Energy (ARPA-E), the City of San Antonio Aviation Department and City Public Service Board (CPS Energy), and the University of Texas at San Antonio (UTSA) signed a Memorandum of Understanding (MOU) outlining collective efforts to develop and promote technologies that include, but are not limited to, sustainable aviation, battery technologies and innovative battery storage solutions, enhanced electric vehicle (EV) charging, and power demand management technologies.

Key Points: 
  • ARPA-E Director Evelyn Wang, San Antonio Mayor Ron Nirenberg, UTSA President Dr. Taylor Eighmy, and CPS Energy Vice President of Customer Value Karma Nilsson were all present for the signing hosted at Stinson Municipal Airport in San Antonio.
  • "We are excited at this opportunity to collaborate and showcase innovative energy technologies that could transform the future of aviation," said ARPA-E Director Evelyn N. Wang.
  • Our hope is that this partnership will lay the groundwork to enable future electrified airports."
  • "This is an important agreement with the potential to shape the aviation industry of the future," said San Antonio Mayor Ron Nirenberg.

CPS Energy Acquires Gas Plants in Corpus Christi and Laredo From Talen Energy as Part of Approved Generation Plan

Retrieved on: 
Mercoledì, Marzo 27, 2024
Talen, Solar energy, CPS, Growth, Trustee, Talen Energy, SAN, City, CPS Energy, LLP, Acquisition, Wind, Carbon, Climate change mitigation, Plant, Investment, ERCOT, Retirement, Kirkland & Ellis, RBC Capital Markets, Renewable energy

SAN ANTONIO, March 27, 2024 /PRNewswire/ -- Today, CPS Energy and Talen Energy Corporation ("Talen") (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen's approximately 1,710-megawatt ("MW") generation portfolio located in the South Zone of the Electric Reliability Council of Texas ("ERCOT") market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.  

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo.
  • This action supports CPS Energy's generation plan, approved in 2023 by its Board of Trustees.
  • CPS Energy's Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030.
  • CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works.

CPS ENERGY ACQUIRES GAS PLANTS IN CORPUS CHRISTI AND LAREDO FROM TALEN ENERGY AS PART OF APPROVED GENERATION PLAN

Retrieved on: 
Mercoledì, Marzo 27, 2024
Talen, Solar energy, CPS, Growth, Trustee, Talen Energy, SAN, City, CPS Energy, LLP, Acquisition, Wind, Carbon, Climate change mitigation, Plant, Investment, ERCOT, Retirement, Kirkland & Ellis, RBC Capital Markets, Renewable energy

SAN ANTONIO, March 27, 2024 /PRNewswire/ -- Today, CPS Energy and Talen Energy Corporation ("Talen") (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen's approximately 1,710-megawatt ("MW") generation portfolio located in the South Zone of the Electric Reliability Council of Texas ("ERCOT") market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.  

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo.
  • This action supports CPS Energy's generation plan, approved in 2023 by its Board of Trustees.
  • CPS Energy's Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030.
  • CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works.