Eversource Energy

Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments

Retrieved on: 
Tuesday, November 7, 2023
OREC, FID, Eversource Energy, DKK, Government, EBITDA, Carbon, Wind, WACC, Development, Partnership, Investment, Renewable energy

Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments

Key Points: 
  • Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments
    Following decisions of its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and 2 projects and has taken final investment decision on the Revolution Wind project.
  • On 29 August 2023, Ørsted announced anticipated impairments on its US portfolio of up to DKK 16 billion.
  • Ørsted has taken the decision to cease the development of the Ocean Wind 1 and 2 projects.
  • Ørsted has today taken the final investment decision (FID) on the 704 MW Revolution Wind project, which Ørsted owns in a 50/50 partnership with Eversource.

Capital Raise of $182 Million Confirms Eavor as the Leader in Scalable Geothermal

Retrieved on: 
Wednesday, October 25, 2023
Carbon, Geretsried, OMV AG, Microsoft, CGF, Temasek, Eversource Energy, National bank, National Bank of Canada, BDC, Lawyer, OMV, Renewable energy, Eavor Technologies

CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Eavor Technologies Inc., (“Eavor”) a pioneer in the field of advanced geothermal energy solutions today announces the successful completion of $182 million in financing.

Key Points: 
  • CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Eavor Technologies Inc., (“Eavor”) a pioneer in the field of advanced geothermal energy solutions today announces the successful completion of $182 million in financing.
  • This significant investment will enable Eavor to accelerate the development and deployment of its revolutionary geothermal technology.
  • The equity round was led by OMV AG, with participation from Canada Growth Fund (“CGF”), Japan Energy Fund, Monaco Asset Management and Microsoft’s Climate Innovation Fund.
  • The Eavor-Loop™ offers a game-changing solution by making geothermal energy accessible, scalable, and cost-effective virtually anywhere on Earth.

Mantis Innovation is Recognized as a 2023 Eversource Energy Excellence Award Winner

Retrieved on: 
Tuesday, October 24, 2023
Commercial Building & Real Estate, Construction & Property, EV, Electric Vehicles, Automotive, Utilities, Building Systems, Alternative Energy, Energy, Residential Building & Real Estate, Vehicle registration plates of Nepal, Energy efficiency, Eversource Energy, Cryptocurrency

In recognition of business partners and their leadership on some of the most innovative projects focused on energy efficiency and electric vehicles (EV) infrastructure, Eversource awarded Mantis Innovation with the Retrofit: Large Business Award as part of the energy company’s Eversource Energy Excellence Awards.

Key Points: 
  • In recognition of business partners and their leadership on some of the most innovative projects focused on energy efficiency and electric vehicles (EV) infrastructure, Eversource awarded Mantis Innovation with the Retrofit: Large Business Award as part of the energy company’s Eversource Energy Excellence Awards.
  • Mantis Innovation is among seven winners that were chosen from a pool of more than 100 applications.
  • “We are incredibly honored to be recognized with his award, which is a testament to Mantis Innovation's steadfast dedication to our clients and their efforts to minimize energy consumption.
  • “These awards celebrate seven fantastic business partners who are deeply committed to energy efficiency, customer service, and helping us achieve a more sustainable future.”
    As the Retrofit: Large Business Award winner, Mantis Innovation was recognized for its extensive lighting improvements deployed across 26 Big Y Inc. sites across Massachusetts and Connecticut.

Eversource Named Top Utility in 100 Best Corporate Citizens 2023

Retrieved on: 
Wednesday, October 18, 2023
Oil, Gas, Environmental, Social and Governance (ESG), Energy, Professional Services, Utilities, Eversource Energy, Water, NYSE, ESG, Sustainable Development Goals, Paris, United Company, Carbon, Wind, Electricity, Institutional Shareholder Services, Multimedia, Responsibility, Environment, Russell 1000 Index, Human rights, Paris Agreement, ISS, Natural gas, Climate change, Renewable energy, Newsweek

View the full release here: https://www.businesswire.com/news/home/20231017002917/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20231017002917/en/
    Eversource is the #1 utility in 3BL’s annual 100 Best Corporate Citizens ranking for 2023.
  • There is no fee for companies to be included in 100 Best Corporate Citizens.
  • Data and information used in the 2023 edition of the 100 Best Corporate Citizens ranking was collected between July 2022 to July 2023.
  • “The 100 Best Corporate Citizens of 2023 are answering the call by demonstrating the societal and bottom-line value of leadership and transparency around ESG topics.

Eversource Energy to Discuss Third Quarter Results

Retrieved on: 
Monday, October 16, 2023
Oil, Gas, Alternative Energy, Energy, Other Energy, Utilities, NYSE, United Company, Eversource Energy, Wind, Electricity, Natural gas, Water, Renewable energy, Newsweek

Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek ’s list of America’s Most Responsible Companies for 2023 and recognized as one of America’s Most JUST Companies.

Key Points: 
  • Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek ’s list of America’s Most Responsible Companies for 2023 and recognized as one of America’s Most JUST Companies.
  • Eversource transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire.
  • The #1 energy efficiency provider in the nation, Eversource harnesses the commitment of approximately 9,900 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service.
  • The company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system.

Eversource Energy Announces Appointment of Executive Vice President & Chief Operating Officer Paul Chodak III

Retrieved on: 
Monday, September 18, 2023
Energy, Other Energy, Utilities, Maintenance, Executive, Worcester Polytechnic Institute, United States Navy, AEP, Generation, Power, Electricity, United Company, American Electric Power, ICEX: US Navy Mission in Arctic, Wind, Eversource Energy, Chemical engineering, Engineering, Water, Natural gas, Knowledge, Massachusetts Institute of Technology, NYSE, Virginia Tech, Renewable energy, Management, Operation, Public utility, Newsweek

Eversource Energy (NYSE: ES) today announced that Paul Chodak has been elected as Executive Vice President and Chief Operating Officer, effective November 13, 2023.

Key Points: 
  • Eversource Energy (NYSE: ES) today announced that Paul Chodak has been elected as Executive Vice President and Chief Operating Officer, effective November 13, 2023.
  • Chodak has worked at American Electric Power (NYSE: AEP) in Operations roles for 22 years.
  • Previously, he was the Executive Vice President of Utilities and led seven utility companies within AEP’s footprint of 5 million customers in 11 states throughout the U.S. Midwest and Southern regions.
  • As Eversource Energy’s Chief Operating Officer, Chodak will lead the electric transmission and distribution, gas, water, electric engineering and grid modernization, enterprise emergency preparedness, offshore wind project execution, operations services, and safety organizations.

Eversource Energy Declares Common Dividend

Retrieved on: 
Thursday, September 14, 2023
Alternative Energy, Energy, Other Energy, Utilities, Eversource Energy, Trustee, NYSE, Safety, Natural gas, Renewable energy

The Board of Trustees of Eversource Energy (NYSE:ES) today approved a quarterly dividend of $0.675 per share, payable on September 29, 2023, to shareholders of record as of the close of business on September 25, 2023.

Key Points: 
  • The Board of Trustees of Eversource Energy (NYSE:ES) today approved a quarterly dividend of $0.675 per share, payable on September 29, 2023, to shareholders of record as of the close of business on September 25, 2023.
  • Eversource Energy operates New England’s largest energy delivery company and is committed to safety, reliability, environmental leadership and stewardship, as well as expanding energy and sustainability options for approximately 4.4 million electric, natural gas and water customers in Connecticut, Massachusetts and New Hampshire.
  • It has approximately 349 million common shares outstanding.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20230914273254/en/

Eversource Energy Closes on the Sale of Uncommitted Offshore Lease Area

Retrieved on: 
Thursday, September 7, 2023
Alternative Energy, Energy, Commercial Building & Real Estate, Construction & Property, Utilities, Innovation system, Public policy, Wind, Risk, Terrorism, Confidentiality, Sale, Committee, Public expenditure, Goldman Sachs, Ropes & Gray, Eversource Energy, Climate change, Natural gas, Growth, Weather, Security (finance), Foreign investment, NYSE, Committee on Foreign Investment in the United States, Renewable energy

Eversource Energy (NYSE: ES) today announced that it has completed its sale of the uncommitted lease area of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction.

Key Points: 
  • Eversource Energy (NYSE: ES) today announced that it has completed its sale of the uncommitted lease area of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction.
  • Eversource and Ørsted today have also announced the execution of a Tax Equity Capital Contribution Agreement for South Fork Wind.
  • Eversource will use a portion of the proceeds from the lease area sale to provide its anticipated tax equity investment for South Fork Wind.
  • Eversource Energy operates New England’s largest energy delivery system and serves approximately 4.4 million electric, natural gas and water utility customers in Connecticut, Massachusetts, and New Hampshire.

ARCLIGHT TO ACQUIRE OWNERSHIP INTEREST IN KLEEN ENERGY SYSTEMS

Retrieved on: 
Monday, August 14, 2023
Eversource Energy, LLP, 1st Connecticut Light Artillery Battery, Partner (business rank), Latham & Watkins, Energy, Arclight, 2010 Connecticut power plant explosion, Mintz, Public utility, Sojitz, Safety-Kleen

BOSTON, Aug. 14, 2023  /PRNewswire/ -- Recently, an affiliate of ArcLight Capital Partners, LLC (collectively, "ArcLight") entered into a definitive purchase agreement with Sojitz Corporation of America ("Sojitz") to acquire Sojitz's indirect ownership interests in Kleen Energy Systems, LLC ("Kleen"), including 100% of the preferred equity and a minority common equity ownership interest. Kleen owns an efficient 620-megawatt natural gas-fired power plant located in Middletown, Connecticut. Financial terms of the private transaction were not disclosed.

Key Points: 
  • Efficient 620-Megawatt Power Infrastructure Asset in Middletown, Conn.
    BOSTON, Aug. 14, 2023 /PRNewswire/ -- Recently, an affiliate of ArcLight Capital Partners , LLC (collectively, "ArcLight") entered into a definitive purchase agreement with Sojitz Corporation of America ("Sojitz") to acquire Sojitz's indirect ownership interests in Kleen Energy Systems, LLC ("Kleen"), including 100% of the preferred equity and a minority common equity ownership interest.
  • Kleen owns an efficient 620-megawatt natural gas-fired power plant located in Middletown, Connecticut.
  • Completed in July 2011, Kleen is one of New England's newest and most efficient natural gas combined-cycle plants, providing critical capacity, energy, and ancillary services.
  • "The high-quality asset provides critical infrastructure and grid stability services as one of the core power suppliers in the New England market."

Eversource Begins Drilling on First-in-the-Nation Geothermal Project

Retrieved on: 
Friday, August 11, 2023
Alternative Energy, Energy, Utilities, Oil, Gas, DPU, Massachusetts Department of Public Utilities, Season, Electricity, Public, United Company, Multimedia, Propane, Wind, NYSE, City, Water, Natural gas, Heat, Renewable energy, Newsweek, Eversource Energy

Drilling operations will happen within two city-owned parking lots and a Framing Housing Authority lot over the next few months.

Key Points: 
  • Drilling operations will happen within two city-owned parking lots and a Framing Housing Authority lot over the next few months.
  • The energy company has partnered with a contractor that specializes in this type of drilling, and each well will be approximately 600-700 feet deep.
  • Geothermal technology works by transferring heat to and from underground wells into homes and businesses using heat pumps.
  • Eversource expects its networked geothermal system to be complete and placed in service ahead of the 2023 heating season.