Latest news with #GreenEnergy
The Independent
18 hours ago
- Business
- The Independent
Dale Vince's High Court claim against Daily Mail publisher thrown out
Green energy industrialist Dale Vince's High Court claim against the publisher of the Daily Mail has been thrown out by a judge. Mr Vince brought legal action against Associated Newspapers Limited (ANL) over an article headlined ' Labour repays £100,000 to sex pest donor', published in June 2023. The story reported that the Labour Party was handing back money to donor Davide Serra with a picture showing Mr Vince holding a Just Stop Oil banner. This picture, published in print and on The Mail+ app, was changed to one of Mr Serra online 47 minutes after publication, while the original picture of Mr Vince remained in the print version. An employment tribunal in 2022 heard Mr Serra had made sexist comments to a female colleague which were found to amount to unlawful harassment related to sex. Mr Vince claimed ANL misused his personal data and that the publication of his photograph with this story would lead readers to believe he had been accused of sexual harassment. ANL had defended the claim, with its lawyers previously telling the High Court in London that it was an abuse of process and a 'resurrection' of a libel claim that was dismissed last year. In a judgment on Monday, a High Court judge threw out the data protection claim. Mr Justice Swift said: 'There is no real prospect that Mr Vince will succeed on his claim. 'As in the defamation proceedings, it is accepted that on reading the text of the article published in Mail+ and the Daily Mail any ordinary reader would very quickly realise that Mr Vince was not being accused of sexual harassment. 'Considered on this basis the personal data relating to Mr Vince was processed fairly.' He said there was 'every reason' why the data protection claim should have been heard with the defamation claim last year. 'Both claims arose out of the same event, the publication of the article in Mail+ and the Daily Mail,' he added. 'Both claims rely on the same factual circumstances, namely the juxtaposition of the headline, photographs and caption, and the contention that the combination of the headline and the photograph created the misleading impression that Mr Vince had been accused of sexual harassment.'
Reuters
7 days ago
- Business
- Reuters
Local firms drive new growth phase in Nigeria's oil sector
LAGOS, June 3 (Reuters) - Nigeria is witnessing a significant shift in its oil and gas landscape as local companies expand their roles, driving a new phase of potential sectoral growth and innovation. Leading the charge are companies which bought onshore and shallow water assets from oil majors planning billions of dollars of investments to develop abandoned fields. Smaller producers are also pulling their weight, for example Nigeria's first locally developed and operated onshore crude terminal, Otakikpo, began loading operations on Monday. Built by Green Energy Limited and located in the OML 11 block near Port Harcourt, it marks a milestone in local capacity. Shell (SHEL.L), opens new tab loaded the first crude cargo through the 360,000 bpd capacity terminal on Monday, opening up potential drilling prospects for over 40 stranded fields in the region. Similarly, Conoil Producing Limited ( opens new tab recently shipped the first cargo of its new Obodo crude blend from the onshore OML 150 in the Niger Delta. The cargo was lifted by Oando Trading, a subsidiary of Oando Plc ( opens new tab which bought ENI's ( opens new tab divested assets. Following this trend, Renaissance Africa Energy — after acquiring Shell's onshore assets — is committing to investing $15 billion over the next five years in its oil and gas operations. The company aims not only to balance its portfolio by increasing crude oil production but also to double its gas output once a key local gas pipeline is completed. Similarly, Seplat Energy ( opens new tab, following its acquisition of ExxonMobil's (XOM.N), opens new tab Nigerian shallow-water assets, recently announced plans to reopen 400 previously shut-in wells. CEO Roger Brown said the company is set to invest up to $320 million this year in drilling campaigns and infrastructure, with the goal of boosting crude production to around 140,000 barrels per day. "We are focused on reviving existing wells, expanding drilling campaigns, and increasing gas volumes," Brown said during the company's annual general meeting. While these developments show the increasing role local producers are playing amidst government reforms, they are also grappling with challenges. "These operators face higher costs due to security challenges, community disputes, oil theft and ageing infrastructure – a key aspect of reducing costs for operators will be addressing these challenges," said Mikolah Judson, an analyst at global risk consultancy, Control Risk. These local players, signal a new phase for Nigeria's oil and gas sector and could provide support for the government's plan to raise oil output by additional 1 million barrels per day (bpd) next year, head of Nigeria's oil regulator said. They now account for over half of Nigeria's oil production from around 40% before the oil majors completed their divestment programmes according to the regulator's data.
Yahoo
26-05-2025
- Business
- Yahoo
NTPC Ltd (BOM:532555) Q4 2025 Earnings Call Highlights: Strong Financial Performance Amid ...
Release Date: May 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. NTPC Ltd (BOM:532555) achieved a significant milestone with the successful listing of NTPC Green Energy Limited, positioning it as a leader in India's renewable energy landscape. The company added 3,312 megawatts from renewable energy sources in FY 2025, demonstrating a strong commitment to energy transition. NTPC's thermal fleet achieved a plant load factor of 77.44%, outperforming the rest of India's PLF of 67.23%, showcasing operational excellence. The NTPC Group's total income for FY 2025 rose by 5%, with a robust growth in profit after tax by 9%, indicating strong financial performance. NTPC's strategic investments in international ventures and new business horizons are expanding its footprint and creating additional revenue streams. There were delays in capacity additions, particularly in the Khara and Bala projects, due to issues like cooling substation delays and land transfer problems. The company faces challenges in land acquisition and transmission connectivity for renewable projects, which could impact future capacity additions. Despite the increase in renewable capacity, NTPC still relies heavily on coal, with a significant portion of its capacity coming from thermal sources. The acquisition of the Sagra thermal power plant is still under discussion, indicating potential delays or complications in finalizing the deal. The company has not yet signed PPAs for some of its major projects, which could affect future revenue streams and project viability. Warning! GuruFocus has detected 3 Warning Sign with BOM:532555. Q: Can you provide details on NTPC Green Energy Limited's (NGL) renewable capacity addition and PPA status? A: The details are available in the uploaded documents. However, we can provide additional specifics separately. (Director of Finance) Q: What are the commissioning targets for FY 2025-26 and FY 2026-27 for both conventional and renewable energy? A: For FY 2025-26, NTPC expects to add 11,806 MW, including 3,580 MW of thermal, 1,000 MW of hydro, and 7,226 MW of renewable energy. For FY 2026-27, the target is 9,904 MW, with 1,460 MW of thermal, 444 MW of hydro, and 8,000 MW of renewable energy. (Director of Finance) Q: What explains the rise in joint venture income during the quarter? A: The increase in joint venture income to 630 crore is due to contributions from various JVs, including NTCL, BPI PCL, HURL, and others. (Director of Finance) Q: How confident is NTPC in achieving the 6.5 GW renewable energy target for this year, given last year's lower addition? A: We are confident based on the projects under construction. Last year's slippage will be compensated, and we are improving our target to 6.5 GW for FY 2025-26. (Director of Finance) Q: Are there any delays in thermal project tendering or awarding? A: There have been some delays, but major projects like Meja are expected to be awarded by the second week of July. (Director of Projects) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
CNN
21-05-2025
- Business
- CNN
The jobs and tax credits that could disappear if the ‘big, beautiful' House GOP bill passes
Green energy Sustainability Taxes Congressional newsFacebookTweetLink Follow House Republicans are proposing to gut energy savings and clean energy tax credits in President Donald Trump's 'big, beautiful' tax bill — funds that are creating thousands of jobs in GOP states and saving homeowners money on their bills. It's all on the chopping block. The House GOP is moving closer to a final vote on Trump's tax package, before it heads to the Senate. If Congress passes the tax bill as it stands, it could cost the US more than 830,000 jobs that would otherwise be created in the coming years, the think tank Energy Innovation found. The impacted jobs are mostly in construction and manufacturing, building factories and components for EVs, wind turbines, solar panels, batteries and other clean energy products — the vast majority of which are in GOP states and districts. It also threatens an eye-popping amount of investment from companies that piggybacked on the passage of the 2022 clean energy bill, also known as the Inflation Reduction Act. 'We're talking about an awful lot of money — approaching a trillion dollars in private sector investment that's either been made or has been planned — that is at risk,' said Robbie Orvis, Energy Innovation's senior director of modeling and analysis. The threatened funds are in the same places the jobs are at risk; nearly 80% of the investment sparked by the law is in Republican areas, according to data from the Rhodium Group and the Massachusetts Institute of Technology. Bottom line, that's what the new tax bill is, essentially: a repeal of the clean energy provisions in the 2022 Inflation Reduction Act, according to independent analysis from the two nonpartisan think tanks. 'It's functionally equivalent to a full-out repeal,' Orvis said, adding the current bill proposed by House Republicans is a 'sledgehammer on steroids.' It would hurt Republicans the most. Republicans represent 14 of the top 20 congressional districts that are on the cusp of gaining the most jobs from the law, which was championed by former President Joe Biden. Tennessee, Georgia and the Carolinas, among others, have gained most of the new jobs in electric vehicle and battery manufacturing and could stand to lose the most if tax credits disappear. Rep. Mark Amodei, whose Nevada district alone is poised to gain more than 20,000 jobs in mining, refining and processing lithium for EVs and batteries, previously told CNN that continuing to fund these facilities in his district is 'fundamental.' Orvis said the Republican tax bill could not only hurt future projects, it will likely hurt existing manufacturing facilities as well. 'Some of the proposed language in the (bill) text actually puts existing facilities at risk because they will no longer qualify to receive some of the tax credits that they got financing on,' Orvis said. The cost of electricity for everyday Americans and businesses would also go up; Energy Innovation found wholesale electricity prices would increase by 50% by 2035. This is in large part because solar and wind energy are cheaper than fossil fuels. Rhodium's analysis found the GOP bill would slash the amount of new clean energy on the US electric grid by 57-72% through 2035. Cutting cheaper wind and solar will raise American's energy bills, analysts said. 'You don't worry about (price volatility) with wind and solar; the sun is still free,' Rhodium analyst Ben King told CNN. 'By shifting away from renewables and back to natural gas, you are exposing yourself to price volatility as well.' Some Republican lawmakers have voiced concerns that repealing the tax credits could hurt electricity generation at a time when the US needs more power than ever. The AI boom is gobbling up electricity for data centers, and companies are on the hunt for electrons wherever they can find them. That's the central argument solar CEOs have been making to Republican lawmakers as they've pleaded with them to keep the credits intact. 'Solar is the most effective form of energy going forward; it's the fastest and cheapest to market,' said Zaid Ashai, CEO of solar company Nexamp. 'The reality is we're in this economic competition with China. The only way to win the technology and AI race is to be energy independent, and solar is a really key component of that.'
CNN
21-05-2025
- Business
- CNN
The jobs and tax credits that could disappear if the ‘big, beautiful' House GOP bill passes
Green energy Sustainability Taxes Congressional newsFacebookTweetLink Follow House Republicans are proposing to gut energy savings and clean energy tax credits in President Donald Trump's 'big, beautiful' tax bill — funds that are creating thousands of jobs in GOP states and saving homeowners money on their bills. It's all on the chopping block. The House GOP is moving closer to a final vote on Trump's tax package, before it heads to the Senate. If Congress passes the tax bill as it stands, it could cost the US more than 830,000 jobs that would otherwise be created in the coming years, the think tank Energy Innovation found. The impacted jobs are mostly in construction and manufacturing, building factories and components for EVs, wind turbines, solar panels, batteries and other clean energy products — the vast majority of which are in GOP states and districts. It also threatens an eye-popping amount of investment from companies that piggybacked on the passage of the 2022 clean energy bill, also known as the Inflation Reduction Act. 'We're talking about an awful lot of money — approaching a trillion dollars in private sector investment that's either been made or has been planned — that is at risk,' said Robbie Orvis, Energy Innovation's senior director of modeling and analysis. The threatened funds are in the same places the jobs are at risk; nearly 80% of the investment sparked by the law is in Republican areas, according to data from the Rhodium Group and the Massachusetts Institute of Technology. Bottom line, that's what the new tax bill is, essentially: a repeal of the clean energy provisions in the 2022 Inflation Reduction Act, according to independent analysis from the two nonpartisan think tanks. 'It's functionally equivalent to a full-out repeal,' Orvis said, adding the current bill proposed by House Republicans is a 'sledgehammer on steroids.' It would hurt Republicans the most. Republicans represent 14 of the top 20 congressional districts that are on the cusp of gaining the most jobs from the law, which was championed by former President Joe Biden. Tennessee, Georgia and the Carolinas, among others, have gained most of the new jobs in electric vehicle and battery manufacturing and could stand to lose the most if tax credits disappear. Rep. Mark Amodei, whose Nevada district alone is poised to gain more than 20,000 jobs in mining, refining and processing lithium for EVs and batteries, previously told CNN that continuing to fund these facilities in his district is 'fundamental.' Orvis said the Republican tax bill could not only hurt future projects, it will likely hurt existing manufacturing facilities as well. 'Some of the proposed language in the (bill) text actually puts existing facilities at risk because they will no longer qualify to receive some of the tax credits that they got financing on,' Orvis said. The cost of electricity for everyday Americans and businesses would also go up; Energy Innovation found wholesale electricity prices would increase by 50% by 2035. This is in large part because solar and wind energy are cheaper than fossil fuels. Rhodium's analysis found the GOP bill would slash the amount of new clean energy on the US electric grid by 57-72% through 2035. Cutting cheaper wind and solar will raise American's energy bills, analysts said. 'You don't worry about (price volatility) with wind and solar; the sun is still free,' Rhodium analyst Ben King told CNN. 'By shifting away from renewables and back to natural gas, you are exposing yourself to price volatility as well.' Some Republican lawmakers have voiced concerns that repealing the tax credits could hurt electricity generation at a time when the US needs more power than ever. The AI boom is gobbling up electricity for data centers, and companies are on the hunt for electrons wherever they can find them. That's the central argument solar CEOs have been making to Republican lawmakers as they've pleaded with them to keep the credits intact. 'Solar is the most effective form of energy going forward; it's the fastest and cheapest to market,' said Zaid Ashai, CEO of solar company Nexamp. 'The reality is we're in this economic competition with China. The only way to win the technology and AI race is to be energy independent, and solar is a really key component of that.'
