PPA

AM Best Affirms Credit Ratings of Mercury General Corporation and Its Subsidiaries

Retrieved on: 
Thursday, February 15, 2024

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) for the members of Mercury Casualty Group (Mercury).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) for the members of Mercury Casualty Group (Mercury).
  • Concurrently, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of the organization’s publicly traded ultimate parent, Mercury General Corporation (MGC) (Los Angeles, CA) [NYSE: MCY].
  • AM Best also has affirmed the Long-Term Issue Credit Rating of “bbb” (Good) of MGC’s $375 million, 4.4% senior unsecured notes, due 2027.
  • The outlook of these Credit Ratings (ratings) is stable.

EQS-News: ENERPARC secures bridge financing for 325 MW solar projects from Eiffel Investment Group

Retrieved on: 
Thursday, February 15, 2024

ENERPARC AG has successfully secured bridge financing for a project portfolio consisting of solar PV and hybrid projects including battery storage (BESS) with an aggregate capacity of 325 MW.

Key Points: 
  • ENERPARC AG has successfully secured bridge financing for a project portfolio consisting of solar PV and hybrid projects including battery storage (BESS) with an aggregate capacity of 325 MW.
  • The financing was provided by the renowned French investment firm, Eiffel Investment Group, with Capcora acting as the exclusive financial advisor to ENERPARC throughout the process.
  • This transaction is the first German transaction of Eiffel Energy Transition III, the third vintage of our Eiffel Energy Transition program," added Pierre-Antoine Machelon, Managing Director, Eiffel Investment Group.
  • Eiffel Investment Group was advised by Bird&Bird as lenders legal counsel.

Equinix Reports Fourth-Quarter and Full-Year 2023 Results

Retrieved on: 
Wednesday, February 14, 2024

In this context, the significance of Platform Equinix and its strong competitive advantages has never been more crucial.

Key Points: 
  • In this context, the significance of Platform Equinix and its strong competitive advantages has never been more crucial.
  • Equinix opened 14 new data centers in 12 metros including Dublin, Frankfurt, Kuala Lumpur, Madrid, Milan, Montreal, Paris, São Paulo, Seattle, Seoul, Tokyo and Washington, D.C.
  • Equinix will discuss its quarterly results for the period ended December 31, 2023, along with its future outlook, in its quarterly conference call on Wednesday, February 14, 2024, at 5:30 p.m.
  • Equinix has made available on its website a presentation designed to accompany the discussion of Equinix's results and future outlook, along with certain supplemental financial information and other data.

Great Lakes Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 14, 2024

HOUSTON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the quarter and year ended December 31, 2023.

Key Points: 
  • Lasse Petterson, President and Chief Executive Officer commented, “We ended the year strong with solid fourth quarter results.
  • Gross margin percentage increased to 21.3% in the fourth quarter of 2023 from -11.0% in the fourth quarter of 2022 partially due to improved project performance.
  • Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance.
  • Great Lakes' future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

Norsk Hydro: Changing the aluminium game - Strengthening position in challenging markets

Retrieved on: 
Wednesday, February 14, 2024

All business areas, except Bauxite & Alumina, delivered returns above their cost of capital in challenging markets during 2023.

Key Points: 
  • All business areas, except Bauxite & Alumina, delivered returns above their cost of capital in challenging markets during 2023.
  • At the same time, lower trailer build rates in North America have started to negatively impact demand in the transport segment.
  • A weakening extrusion ingot market is further putting pressure on product premiums and several remelters are faced with negative margins, consequently.
  • The transactions enable capital reallocation into strategic growth areas, strengthening Hydro’s earnings resilience in a rapidly changing global landscape.

First Phosphate Corp. Completes Pilot Production of LFP Battery-Grade Purified Phosphoric Acid

Retrieved on: 
Tuesday, February 13, 2024

Saguenay, Quebec--(Newsfile Corp. - February 13, 2024) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce success in its pilot project to transform its high purity phosphate concentrate into battery-grade purified phosphoric acid ("PPA") for the lithium iron phosphate (LFP) battery industry.

Key Points: 
  • Saguenay, Quebec--(Newsfile Corp. - February 13, 2024) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce success in its pilot project to transform its high purity phosphate concentrate into battery-grade purified phosphoric acid ("PPA") for the lithium iron phosphate (LFP) battery industry.
  • On September 6, 2023, the Company announced that Prayon Technologies SA had been successful in transforming First Phosphate's phosphate concentrate into high quality merchant grade phosphoric acid ("MGA").
  • The full pilot process installation involving the transformation of the Company's phosphate concentrate into PPA is viewable at: www.firstphosphate.com/phosphoricacid
    "Our full transformation process from Quebec igneous phosphate rock to PPA for LFP batteries is now complete," says First Phosphate CEO, John Passalacqua.
  • "We can now engage our partners to begin the pilot process of producing LFP cathode active material and LFP battery cells from a fully North American source of battery-grade PPA."

Air Products and Eneco Sign Power Purchase Agreement for Solar Electricity in The Netherlands

Retrieved on: 
Monday, February 12, 2024

ROTTERDAM, Netherlands, Feb. 12, 2024 /PRNewswire/ -- Air Products, a world-leading industrial gases company, is proud to announce a significant step forward in its commitment to sustainability through the signing of a Power Purchase Agreement (PPA) for renewable energy with Eneco.

Key Points: 
  • ROTTERDAM, Netherlands, Feb. 12, 2024 /PRNewswire/ -- Air Products, a world-leading industrial gases company, is proud to announce a significant step forward in its commitment to sustainability through the signing of a Power Purchase Agreement (PPA) for renewable energy with Eneco.
  • This strategic agreement reaffirms Air Products' dedication to help address climate impacts and sourcing a substantial portion of its energy needs in The Netherlands from renewable sources.
  • The renewable electricity will be generated at the Vlagtwedde Solar PV farm in the northeast of The Netherlands.
  • This allows Air Products to become more sustainable and help their customers in many sectors do so as well.

Ormat Secures Approval for PPA Amendments Between Its Puna Geothermal Venture and Hawaiian Electric

Retrieved on: 
Monday, February 12, 2024

RENO, Nev., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, announces Hawai’i Public Utilities Commission’s (HPUC) approval of two final amendments to the Power Purchase Agreement (PPA) between its subsidiary, Puna Geothermal Venture (PGV), and Hawaiian Electric. This landmark decision enables PGV to contribute up to an additional 8 megawatts (MW) of clean, dispatchable renewable power to Hawai’i Island, elevating the contract maximum capacity to 46 MW, with a minimum contracted capacity set at 30 MW. The approval follows PGV’s completion and submission of its final Environmental Impact Statement (EIS) for operations in Puna, Hawai’i. The EIS was a condition set by the HPUC for approval of an amended and restated PPA that was submitted to the HPUC in December 2019.

Key Points: 
  • Amended and restated PPA secures fixed energy rate, PPA extension and project expansion
    RENO, Nev., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, announces Hawai’i Public Utilities Commission’s (HPUC) approval of two final amendments to the Power Purchase Agreement (PPA) between its subsidiary, Puna Geothermal Venture (PGV), and Hawaiian Electric.
  • The approval follows PGV’s completion and submission of its final Environmental Impact Statement (EIS) for operations in Puna, Hawai’i.
  • The EIS was a condition set by the HPUC for approval of an amended and restated PPA that was submitted to the HPUC in December 2019.
  • Doron Blachar, CEO of Ormat Technologies said, “Ormat is pleased to extend and expand our partnership with Hawaiian Electric and continue demonstrating our ability to support the state’s energy needs.

Avangrid and Amazon Expand U.S. Partnership with 98.4 MW Wind Project in Oregon

Retrieved on: 
Friday, February 9, 2024

The Amazon Wind Farm Oregon – Leaning Juniper IIA will have a capacity of 98.4 MW.

Key Points: 
  • The Amazon Wind Farm Oregon – Leaning Juniper IIA will have a capacity of 98.4 MW.
  • “We are proud to have signed this agreement with Amazon, a company that shares our commitment to accelerating the global transition to renewable energy,” said Pedro Azagra, Avangrid CEO.
  • “The project adds to the 2 gigawatts of renewable energy capacity Amazon has already enabled across the western U.S. grid.
  • “Repowering represents a tremendous opportunity for Avangrid to capitalize on benefits from the Inflation Reduction Act,” said ​Azagra.

Global Energy as a Service Market to Hit USD 135.22 Billion by 2030, Exhibiting a Strong 10.12% CAGR, with North America Leading the Industry Due to Favorable Government Initiatives, Estimates Kings Research

Retrieved on: 
Friday, February 9, 2024

With a focus on post subsidy renewable energy sales as well as risk management, Pexapark set out to establish price transparency to 19 global markets.

Key Points: 
  • With a focus on post subsidy renewable energy sales as well as risk management, Pexapark set out to establish price transparency to 19 global markets.
  • The rise in the demand for reliable and eco-friendly energy sources is the key driving force behind this significant expansion.
  • North America is projected to lead the global energy as a service market in the foreseeable future, growing at a robust 7.26% CAGR from 2023 to 2030.
  • Furthermore, North America's leading market players and advanced technological infrastructure play a pivotal role in establishing its prominence in the global energy as a service industry.