Energy Update
The UK government’s hostility towards renewable energy subsidies continues to bite. Following a policy announcement last December that became effective in April, the industry was left facing a 60 percent cut to feed-in tariffs for solar, wind, hydro and anaerobic digestion.
Siemens AG, Europe’s biggest engineering company, will pay about $1 billion of cash to Spain’s Gamesa Corp. Tecnologica SA as part of a deal to combine the companies’ wind businesses, according to people familiar with the matter.
During Crane’s 12-year run as CEO, he tried to transform NRG—then America’s fourth-largest carbon emitter—into a firm focused on wind, solar and nuclear power.
MOSCOW, June 17 (Reuters) - Russia's Russneft is considering
an initial pubic offering to sell up to 10 percent of the
mid-sized oil producer, Interfax news agency reported on Friday
citing company boss Mikhail Gutseriyev.
BARCELONA, June 17 (Thomson Reuters Foundation) - Only a
tiny fraction of climate change funding is going into
small-scale solar, biogas and other off-grid systems that may be
the best way to get power to the world's poorest, researchers
say.
MADRID/FRANKFURT, June 17 (Reuters) - Germany's Siemens
and Spain's Gamesa announced plans to create
the world's biggest builder of windfarms on Friday, seeking to
combine their respective strengths in offshore wind power and
developing markets.
MADRID, June 17 (Reuters) - Chinese energy conglomerate
Sinopec has served an arbitration notice to Spain's
Repsol demanding around $5.5 billion in compensation
over a 2012 joint venture, Repsol said on Friday.
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