UK Battery Developer Aims to Raise Millions for Europe Expansion
The company, which wants to start on projects in Germany and Italy, is looking to secure about £300 million (around $400 million) from investors in exchange for a stake in the firm. As part of its growth strategy, Harmony Energy plans to build out its existing 14-gigawatt pipeline.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Duke Energy seeks to extend operations for another 50 years at Bad Creek, supporting unprecedented growth in the Carolinas
For more than three decades, the pumped storage hydro station in South Carolina has performed a vital role as the largest "battery" on the company's system Effort supports the intent of South Carolina leaders to address growth by continuing to operate proven electricity capacity in the state GREENVILLE, S.C., Aug. 15, 2025 /PRNewswire/ -- Duke Energy has announced its submission of the final license application to the Federal Energy Regulatory Commission (FERC) for the Bad Creek Pumped Storage Hydroelectric Station, located near Salem, S.C. The application, if approved, would extend the plant's operations for an additional 50 years. A flexible, dynamic, efficient and emission-free way to store and deliver large quantities of energy, pumped storage hydro plants store and generate energy by moving water between two reservoirs at different elevations. Located in Oconee County, S.C., Bad Creek is designed to produce significant amounts of energy when our customers need it most, performing a vital role as the largest "battery" on the company's system since 1991. Why it matters: As part of the company's responsibility to serve nearly 860,000 retail electric customers across South Carolina, Duke Energy needs to not only build large amounts of new generation but also extend the lives of those proven workhorse facilities like Bad Creek and the company's existing nuclear fleet to support the economic success and growth the state is experiencing. Duke Energy recently completed upgrades to the four units at the Bad Creek pumped storage facility in Salem, S.C. The upgrades add a total of 320 megawatts of carbon-free energy to the company's system, increasing the total capacity of the station to 1,680 megawatts. This commitment to relicense the Bad Creek facility reflects the investments the company is making to maintain and enhance our generating fleet and serve a growing customer base. Next steps: The current operating license for the project expires in July 2027 and Duke Energy consulted with more than 70 stakeholders to propose a new license that would run for another 50 years. Duke Energy expects a decision on our operating license application from FERC in 2027, before the original license expires. More info: Downloadable b-roll of Bad Creek is available for use. Please courtesy credit: "Duke Energy". What they're saying: U.S. Rep. Sheri Biggs: "Bad Creek is a cornerstone of South Carolina's energy infrastructure and a testament to the kind of smart, long-term investment our state needs. I'm proud to support Duke Energy's efforts to extend operations at this critical facility. This project will help power our communities, support economic growth, and ensure a reliable, affordable energy future for families and businesses across the Upstate." Duke Energy South Carolina President Tim Pearson: "Extending the life of this 'marvel in the mountain' has been a significant part of our planning for the future for many years. Our commitment to keep a proven asset like Bad Creek online for decades to come while also bringing a diverse portfolio of new generating resources to the grid reflects the direction our state's leaders have made clear is the right path forward to support a reliable, affordable and resilient energy future for South Carolina." Duke Energy CarolinasDuke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina. Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 24-Hour: 800.559.3853 View original content to download multimedia: SOURCE Duke Energy
Forbes
7 minutes ago
- Forbes
Paul Smith's Foundation, CFDA Program Supports American Fashion Design
In the Edith Wharton novel 'The Buccaneers' and the current Apple TV+ series, the premise is Gilded Age American heiresses aiding titled Brits with their pocketsful of money in exchange for social status. Today in fashion, the tables have turned, thanks to Sir Paul Smith—he was knighted by Queen Elizabeth II in 2000—a Brit is offering an opportunity of financial support for an American fashion designer. In continuing to expand the reach of the Paul Smith Foundation, the British tailored clothing legend's philanthropic venture will expand support via its fashion program to Americans in partnership with the CFDA, as both entities share the mission to promote and support the education of fashion designers to grow their creativity and innovation. Starting on August 14th, the CFDA will invite designers to apply to the program, which will give one lucky applicant the chance to join Fashion Residency at Studio Smithfield in London for its second-year cohort alongside six UK-based designers. Established in 2024, The Fashion Residency at Studio Smithfield, founded by The Mayor of London, Projekt, and Paul Smith's Foundation, was enabled with support from the City of London Corporation. Established in 2020 to coincide with Paul's 50th year of business, Paul Smith's Foundation was created to support early-career creative people working in fashion, visual arts, and design. The recipient of the inaugural Paul Smith's Foundation x CFDA Designer-in-Residence will receive a complimentary 400-sqft studio space for 12 months, supported by Projekt, mentoring from industry leaders, and business-planning training, visa, flights, as well as a significant contribution to their living. While up-and-coming British designers have especially struggled post-Brexit, current economic and political factors in the US are pointing to funding for the arts and access to education diminishing daily. Together, the CFDA and Sir Paul aim to help nurture young talent towards their own sustainable businesses. 'Partnering with the CFDA to have this opportunity to have an American-based designer join the Fashion Residency is delightful, and hopefully, it will be a life-changing experience for them. We formalized the Paul Smith's Foundation a few years ago, but I have been told quite flatteringly that we've been running one for years without realizing it! I have had designers come to me for years, like John Galliano and Alexander McQueen just to name two who have come for advice, basic advice like 'what's a collaboration, what's a contract'…not advice on how to design, or run a studio or how to put a collection together but very practical advice and that's what I am very proud of what our foundation does,' said Sir Paul Smith in a release. 'Fashion is a truly global business, and an opportunity such as this will provide one American talent with invaluable experience and exposure in an international market,' said Steven Kolb, CFDA CEO and President. 'The chance to work alongside peers in the UK fosters creative exchange, builds cross-cultural understanding, and strengthens our industry. We are deeply grateful to Sir Paul Smith for his continued collaboration and dedication to nurturing the next generation of talent. In September 2025, shortlisted candidates will be interviewed by a panel including Sir Paul Smith, Steven Kolb, Chief Executive Officer and President at CFDA, and Sara Kozlowski, Vice President of Program Strategies / Education & Sustainability Initiatives at CFDA, in New York City, where the recipient will be determined. Closer to another example of the CFDA teaming up with designers to support the next generation of talent, the Veronica Beard X CFDA Creative Futures Scholarship just announced its 2025 class, which includes incoming FIT senior Athmiha Saravanen for tailoring; another incoming FIT senior Giorgio Parolini Arroyo for soft wovens; Polimoda Florence transfer student now at FIT Samira Koehler for knitwear, and Marist University incoming senior Lena Alibrio for denim.
Yahoo
21 minutes ago
- Yahoo
Better Energy Stock: Enterprise Products Partners vs. Delek Logistics Partners
Key Points Enterprise Products Partners has increased its distribution for 27 years in a row. Delek Logistics Partners recently hit a milestone of 50 consecutive quarterly distribution increases. The MLPs have plenty of fuel to continue increasing their high-yielding payouts. 10 stocks we like better than Enterprise Products Partners › Enterprise Products Partners (NYSE: EPD) has been one of the most reliable income investments in the energy sector. The master limited partnership (MLP) has increased its distribution for 27 consecutive years (every year since becoming a publicly traded company). It currently offers investors a yield of nearly 7%. Fellow MLP Delek Logistics Partners (NYSE: DKL) has also been very reliable over the years. It recently delivered its 50th consecutive quarterly distribution increase (12 and a half years). With its yield of over 10%, it's also an attractive option for income-seeking investors. Here's a look at which energy stock is the better option for investors seeking a safe and reliable stream of passive income, and who are comfortable receiving the Schedule K-1 federal tax form that MLPs send to their investors each year. A sector leader Enterprise Products Partners operates one of the largest energy midstream platforms in the country. The company owns over 50,000 miles of pipelines that transport crude oil, natural gas, natural gas liquids, petrochemicals, and refined products. The fully integrated company also operates storage terminals, export docks, processing plants, and petrochemical manufacturing facilities. These assets generate stable and predictable earnings, primarily backed by long-term, fee-based contracts and government-regulated rate structures. The MLP generates enough cash to cover its lucrative distribution by a comfortable 1.6 times. That enables it to retain significant excess free cash flow to fund organic growth projects and return additional cash to investors via unit repurchases. Enterprise Products Partners has one of the strongest financial profiles in the midstream sector. It has an A credit rating and a low 3.1 times leverage ratio. That gives it ample financial capacity to invest in growing its business while returning cash to investors. Enterprise Products Partners currently has $6 billion of organic growth projects on track to enter commercial service in the second half of this year. It also plans to spend between $2.2 billion and $2.5 billion on growth capital projects next year. These expansions should drive its cash flow higher through at least 2027. The company's growing free cash flow will allow it to continue returning more money to investors via distribution increases and unit repurchases. The MLP also uses its financial flexibility to make strategic acquisitions. It recently bought a gas gathering business from Occidental Petroleum. That deal will provide a near-term cash-flow boost from the acquired assets and future growth from a recently approved gas processing plant. Deals like that enhance its ability to continue increasing its distribution. Steadily gaining its independence Delek Logistics Partners is an MLP formed by refining company Delek US Holdings in 2012 to own and operate crude oil and refined products logistics assets. The energy company has steadily diversified its business by acquiring other midstream assets. It's now a full-suite midstream services provider in the Permian Basin with natural gas, crude oil, and water assets. The company's moves to diversify its operations have reduced its reliance on Delek US Holdings, which supplied 58% of its EBITDA in 2023, to an estimated 30% this year. That has helped lower its risk profile. The MLP's diversification strategy has also enhanced its growth prospects. Instead of relying on drop-down asset acquisition transactions with its parent to fuel growth, it's now investing in higher-return organic expansion projects to support third-party customers. For example, the company recently completed its new Libby 2 gas processing plant, providing much-needed additional processing capacity to its producing customers in the region it serves. The company also recently completed construction on some crude oil and water gathering projects. Additionally, it has been making bolt-on acquisitions to enhance its scale and commitment to being a full suite services provider. Delek Logistics Partners began the year by closing its $285 million deal for Gravity Water. Meanwhile, it closed its $230 million H2O Midstream acquisition last fall. Delek Logistics supports its growing operations and distribution with a decent financial profile. The MLP ended the second quarter with a 4.3x leverage ratio and expects to produce enough cash to cover its distribution by over 1.3 times this year. While those metrics provide the company with the financial flexibility to continue growing, they're much weaker than those of Enterprise Products Partners. That's evident in Delek's credit rating, which is below investment grade. As a result, it has much higher borrowing costs. For example, Delek recently issued $700 million of notes due in 2033 at a rate of 7.375%. Meanwhile, Enterprise Products Partners recently issued $2 billion of notes with maturities ranging from 2028 to 2036 at rates between 4.3% and 5.2%. Enterprise Products Partners is the better energy stock to buy for passive income Enterprise Products Partners and Delek Logistics Partners have consistently generated reliable income over the years. However, Enterprise is a much safer investment. It has a much larger scale and more diversified asset base backed by a stronger financial profile. Because of that, it's the better energy stock to buy for those seeking a super-safe income stream. Should you invest $1,000 in Enterprise Products Partners right now? Before you buy stock in Enterprise Products Partners, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Enterprise Products Partners wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,783!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,122,682!* Now, it's worth noting Stock Advisor's total average return is 1,069% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Matt DiLallo has positions in Enterprise Products Partners. The Motley Fool recommends Delek Us, Enterprise Products Partners, and Occidental Petroleum. The Motley Fool has a disclosure policy. Better Energy Stock: Enterprise Products Partners vs. Delek Logistics Partners was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
