Latest news with #LazardInc
Bloomberg
03-07-2025
- Business
- Bloomberg
Lazard Taps Evercore's Cotte for Europe Insurance Unit
Lazard Inc. has hired Cyrille Cotte from Evercore Inc. as head of insurance for its financial institutional group in Europe, according to people familiar with the matter. Cotte, based in London, is expected to take up his new role in autumn, said the people, who asked not to be identified as the information is private. The France-born banker, 46, is a senior managing director in Evercore's European financial institutions group.
Bloomberg
18-06-2025
- Business
- Bloomberg
Big Tech Is Green Power's Best Defense Against the GOP
Under attack from President Donald Trump, the cause of greening America's power grid now relies to a large degree on some of his most recent converts in Silicon Valley. This has nothing to do with politics; rather wealth, scale and urgent need are working together to advance both renewable energy and nuclear power, albeit in different ways. The Trump tax bill working its way through Congress is a huge blow to renewables. Senate Republicans were expected to dilute the zealous anti-greenery in the House version of the bill, but the latest language out of the Senate Finance Committee, is only a little less harsh. Tax credits supporting wind and solar projects will phase down to zero by the end of 2027. That might pull forward some projects, but it will ultimately bump renewable energy costs up considerably. For example, removing the investment tax credit raises a typical solar project's electricity price by around 40%, according to Lazard Inc. Together with regulatory efforts to boost the fortunes of coal and gas-fired electricity, this would ultimately suppress appetite for new renewables projects.
Business Wire
16-06-2025
- Business
- Business Wire
Lazard Releases 2025 Levelized Cost of Energy+ Report
NEW YORK--(BUSINESS WIRE)--Lazard Inc. (NYSE: LAZ) is proud to announce the release of the 18 th edition of its Levelized Cost of Energy+ (LCOE+) report, a widely-cited, annual analysis that provides insights into the cost competitiveness of various energy generation technologies. The report explores key aspects of energy generation, energy storage, and system-level considerations while reflecting on developments over the past 12 months. 'In today's rapidly evolving energy landscape, the relevance of data-driven decision-making has never been more critical and the LCOE+ serves as an invaluable resource for industry stakeholders, policymakers, and investors,' said George Bilicic, Vice Chairman of Investment Banking and Global Head of Power, Energy & Infrastructure, Lazard. Key Findings from the 2025 LCOE+ Report Renewables Remain Competitive: Unsubsidized Wind & Solar Lowest Cost Generation Sources for Last 10 Years Despite facing macro challenges and headwinds, utility-scale solar and onshore wind remain the most cost-effective forms of new-build energy generation on an unsubsidized basis (i.e., without tax subsidies). As such, renewable energy will continue to play a key role in the buildout of new power generation in the U.S. as the lowest-cost and quickest-to-deploy generation. Increased Cost of Gas-Fired Generation: Gas-Fired Generation Reaches 10-Year High LCOE While persistent low gas prices, high energy demand and increasing renewable LCOEs have resulted in the continued cost competitiveness of operating existing baseload gas generation, the cost of building a new combined cycle gas turbine has reached a 10-year high. Turbine shortages, rising costs and long delivery times are expected to continue driving steep LCOE increases for gas technologies in the near term—however, productivity enhancements and supply chain normalization could offset such increases over the longer term. Storage Cost Decline: Significant YOY Declines Offset 2021 – 2024 Increases, Dropping LCOE to 2020 Level This year's report shows sharp declines for battery energy storage systems across hybrid and standalone storage projects. Key drivers of such results include both market dynamics (e.g., lower-than-expected EV demand and the resulting oversupply of cells) and technological advancements (e.g., increased cell capacity and energy density). System Analysis is Evolving: More Renewables Requires More Sophisticated Capacity Accreditation As renewable penetration increases, several independent system operators are refining their capacity accreditation methodologies to incorporate seasonal adjustments and diversity benefits, which have generally driven up firming costs. The continued development of more sophisticated capacity accreditation frameworks could have significant impacts on future firming costs. The recent transformation of the energy sector has not been without challenges, including technological limitations, transmission and distribution infrastructure investment impediments, regulatory and geopolitical considerations, capital scarcity and, arguably most fundamentally, increasing recent power demand. These challenges have become more prominent as renewable energy has gone from a nascent 'emerging' technology to an Industry, accounting for more than 20 percent of the U.S. electricity system, with 'supermajors' of its own. With this growth, debates over energy technology development, mix, costs, environmental impacts and policies have become increasingly relevant and complex. Lazard takes pride in publishing the LCOE+ as a snapshot in time based on real-world, U.S. project data, rather than a prediction of the future and as work product to contribute to the ongoing dialogue. To download the full 2025 Levelized Cost of Energy+ report, click here. About Lazard Founded in 1848, Lazard is the preeminent financial advisory and asset management firm, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit and follow Lazard on LinkedIn. LAZ-CPE
Zawya
15-04-2025
- Business
- Zawya
Lazard expands financial advisory services to UAE with new Abu Dhabi hub
Lazard Inc is establishing a financial advisory office in Abu Dhabi, the latest in a recent spate of global asset management firms courting clients in the region and cementing the UAE's role as an alternative to global financial hubs. The NYSE-listed Lazard said the establishment of the Abu Dhabi office, subject to regulatory approval, is key to the company 'deepening its presence in MENA'. As a part of this expansion, Hussain Altajir has been appointed as CEO of the UAE office, who previously served as Head of Dubai Coverage, Global Banking at HSBC since 2003. Altajir will work alongside Sarah Al Suhaimi, Chairwoman, and Wassim Al Khatib, CEO of Financial Advisory for the MENA region. (Writing by Bindu Rai, editing by Seban Scaria)
Bloomberg
03-03-2025
- Automotive
- Bloomberg
Mercedes, BMW Are Said to Weigh Sale of FreeNow Taxi App
Mercedes-Benz Group AG and BMW AG are making a fresh attempt to sell their jointly-owned taxi hailing app FreeNow, according to people familiar with the matter. The carmakers, who both own just under 50%, are working with Lazard Inc. to gauge interest from potential buyers, said the people, who asked not to be identified because discussions are private. The business could fetch as much as €500 million ($521 million), they said.
