Latest news with #RenewableEnergy
Yahoo
16 hours ago
- Business
- Yahoo
EDP Renovaveis SA (EDRVF) Q2 2025 Earnings Call Highlights: Strong Operational Growth Amid ...
Installed Capacity: Grew to almost 20 gigawatts, up 18% year-on-year. Electricity Generation: Increased by 12% year-on-year, reaching over 21 terawatt hours. Average Selling Price: EUR55 per megawatt hour, down 9% year-on-year. Adjusted Core OpEx: Improved by 11% year-to-date. Recurring EBITDA: Approximately EUR960 million, flat year-on-year; underlying EBITDA grew by 20% year-on-year. Recurring Net Profit: Around EUR137 million, with an EUR18 million increase year-on-year. Net Debt: EUR9 billion as of June 2025, projected to converge to EUR8 billion by year-end. Investments: EUR1.1 billion, a 25% decrease from 2024. Organic Cash Flow: EUR195 million, marking a EUR0.2 billion year-on-year increase. Asset Rotation Proceeds: Expected around EUR2 billion in the second half of 2025. Warning! GuruFocus has detected 5 Warning Signs with EDRVF. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points EDP Renovaveis SA (EDRVF) reported a solid evolution of underlying EBITDA and net profit for the first half of 2025. The company is on track to deliver 2 gigawatts of capacity as committed, with significant progress in asset rotation plans. Installed capacity grew to almost 20 gigawatts, marking an 18% year-on-year increase. Operational efficiency improved, with a notable 11% reduction in adjusted core OpEx per average megawatt. Recurring EBITDA excluding asset rotation gains grew by around 20% year-on-year, showcasing strong operational results and financial discipline. Negative Points Average selling price decreased by 9% year-on-year, primarily due to lower prices in Europe and South America. Recurring EBITDA remained flat year-on-year when including asset rotation gains. The company faces challenges with lower average selling prices impacting electricity sales despite increased generation. Asset rotation gains are expected to be lower, with only EUR100 million projected for 2025. There is uncertainty regarding the impact of potential changes in US safe harbor criteria on future project developments. Q & A Highlights Q: Can you provide more details on the US safe harbor capacity and any additional restrictions following the executive order? A: We have 1.5 gigawatts of safe harbor capacity as of December 2024, which can be used until 2028. We are exploring options for additional safe harbor capacity beyond 2028 and await the executive order's guidance in August. We expect to have a couple of gigawatts eligible beyond 2028, but will confirm after the final regulation is released. (Miguel Stilwell De Andrade, CEO) Q: With EDPR trading below book value, what are your thoughts on growth versus other capital allocation options like share buybacks? A: We see good organic growth opportunities with high returns and are focused on deleveraging. Once we achieve desired balance sheet ratios, we may consider share buybacks, but our current priority is executing our growth plan and maintaining financial discipline. (Miguel Stilwell De Andrade, CEO) Q: How do you view the asset rotation market and valuations currently? A: The asset rotation market remains strong with robust demand and competitive valuations. We are successfully rotating assets with attractive multiples, and the transactions are progressing well. We expect to achieve around EUR100 million in gains from 2025 transactions. (Miguel Stilwell De Andrade, CEO) Q: What is the outlook for US PPA prices and the impact of recent auction prices? A: PPA prices in the US remain stable with strong demand. Recent auction prices, like PJM's capacity auction, indicate higher market prices, which are reflected in our PPA negotiations. We are seeing utilities willing to take on tariff and service date risks, which supports favorable PPA conditions. (Miguel Stilwell De Andrade, CEO) Q: Can you elaborate on the rationale for selling a minority stake in asset rotations? A: Selling a minority stake optimizes our balance sheet by allowing us to consolidate 100% of EBITDA and FFO, which is favorable for credit ratings. It also aligns with investor preferences and provides financial flexibility. (Miguel Stilwell De Andrade, CEO) 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
Economic Times
a day ago
- Business
- Economic Times
1 crore households to get rooftop solar panels by 2026-27 under PM Surya Ghar scheme, govt tells Lok Sabha
TIL Creatives AI generated image. Rooftop solar plants will be installed in one crore households across the country by 2026-27 under the PM Surya Ghar Muft Bijli Yojana (PM-SGMBY), Union Minister of New and Renewable Energy Pralhad Joshi informed the Lok Sabha on also said that the central government has taken several initiatives and has been implementing various schemes and programmes for promotion and development of renewable energy in the country."The government launched PM Surya Ghar Muft Bijli Yojana (PM-SGMBY) in February, 2024 for installing rooftop solar for one crore households by 2026-27 across all states and UTs in the country," he said during the Question minister said the government has also been implementing Pradhan Mantri-Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme across all states and UTs of the the scheme, capacities are allocated based on demand received and progress shown by the states and UTs, he said. Joshi said as per study on 'Powering Jobs Growth with Green Energy' carried out by the Council on Energy, Environment and Water (CEEW) in July, 2019, and co-benefits study report by TERI in October 2019, about 13 lakh employment opportunities are estimated to be created in renewable energy sector by June 31,829 number of local youth and technical workers, who were trained under Suryamitra, Vayumitra and Jal-urja mitra Skill Development Programmes of the Ministry of New and Renewable Energy, got employment, he minister said a on June 30, a total of 11,279.39 MW electricity capacity from different renewable energy sources such as solar (5570 MW), wind (3195.15 MW), bio power (155.46 MW) and hydro power (2358.71 MW), has been installed in Madhya Pradesh. Under the scheme for 'Development of Solar Parks and Ultra-Mega Solar Power Projects", the ministry has sanctioned eight solar parks of aggregate capacity 4248 MW in Madhya Pradesh, he said.
Zawya
2 days ago
- Business
- Zawya
Tetra Pak releases Its 26th Sustainability Report
Cairo: Tetra Pak the world-leading company in food processing and packaging solutions launched its full-year 2024 (FY24) Sustainability Report, highlighting a 25% reduction of greenhouse gas (GHG) emissions across its value chain since 2019, marking a further five percentage-point improvement since 2023. Within its own operations, the company has achieved a 54% reduction in GHG emissions since 2019 and reports 94% renewable energy consumption in its own operations, keeping the company on track to achieve net-zero GHG emissions in its own operations by 2030. Moreover, these environmental achievements go hand in hand with the company's continuous efforts to improve livelihoods and strengthen economies through the delivery of safe food everywhere. Adolfo Orive, President & CEO at Tetra Pak, comments: "By 2050, the global population is projected to reach 10 billion, driving a 60% surge in food demand. Yet, while food systems are vital to sustaining modern life, they also account for more than one-third of global greenhouse gas emissions." He added: "This growing tension between the need for increased food production and reduced environmental impact presents a critical challenge – one that Tetra Pak is committed to addressing. As highlighted in our latest Sustainability Report, we are driving more secure and sustainable food systems, while mitigating climate impacts and improving livelihoods. We look forward to working with our customers and other stakeholders as we continue the journey." The progress illustrated in the Tetra Pak FY24 Sustainability Report puts the company on track to achieve its 2030 ambition of reducing GHG emissions across its value chain by 46% (Scopes 1, 2 and 3) compared to the 2019 base year. This follows another year of significant development in decarbonising the company's own operations and helping its customers reduce their emissions through the equipment, technology and services that Tetra Pak provides. Such advancements demonstrate the company's ongoing commitment to working collaboratively with suppliers, customers and other stakeholders to achieve net-zero GHG emissions across the value chain by 2050, compared to the 2019 baseline. One significant contributor to Tetra Pak's progress in reducing GHG emissions across its value chain in 2024 was the company's resource-efficient equipment, whole-factory optimisation technology, and packaging solutions with lower carbon footprints. These innovations have helped food and beverage producers maintain their competitive edge while reducing their own emissions. The report indicates that in 2024, GHG emissions from delivered ambient dairy lines decreased by 13% compared to 2023, and by 42% from the 2019 baseline. New equipment introduced this year, such as the Tetra Pak® Tubular Heat Exchanger featuring unique, patent-pending Q corrugation, has proved particularly impactful. This design reduces the pressure drop by 40% (that is, the reduction in pressure as fluid flows through the tubes), allowing customers to cut the electricity consumption of the heat exchanger pump used during food and beverage production for processes such as sterilization and pasteurization by up to 40% compared to the previous market-leading model. As a result, customers benefit from both lower energy costs and a reduced carbon footprint at the same time. Other notable achievements shared in the company's FY24 Sustainability Report include: Helping food production factories achieve up to a 40% reduction in energy consumption and a 60% improvement in quality consistency, thereby preventing food waste, through Tetra Pak's advanced manufacturing solutions. Providing 66 million children in 49 countries with milk or other nutritious beverages in packages through school feeding programmes. Helping 84,000 smallholder dairy farmers across 29 Dairy Hub sites worldwide achieve greater income security while providing stable raw milk supply to dairy manufacturers. Investing approximately €100 million in research and development to further enhance the environmental profile of cartons without compromising food safety. This investment led to innovations such as recycled polymer caps developed in partnership with Elle & Vire, and the Tetra Brik® Aseptic 200 Slim Leaf with a paper-based barrier. Launching the company's award-winning Approach to Nature framework, which outlines specific actions, and more than 20 measurable targets aimed at halting and reversing nature loss. This framework supports ecosystem restoration and enhances water security. Strengthening and scaling the company's engagement with workers across the value chain through worker voice surveys, impact assessments, and third-party interviews. Engaging 150 suppliers through its supplier sustainability initiative, Join Us in Protecting the Planet. It is worth noting that Tetra Pak Egypt follows a clear sustainability strategy focused on protecting food, people, and the planet. The company is also committed to developing an integrated infrastructure that supports building a more efficient and sustainable economy, through initiatives that promote the circular economy and contribute to strengthening the recycling sector in Egypt. One of its most successful partnerships is with Uniboard, the only factory in Egypt with the capacity and infrastructure to handle large day to day volumes of used beverage cartons. Tetra Pak Egypt also recently launched the first recycling line for beverage cartons in the Egyptian market through a joint investment with Uniboard worth approximately €2.5 million. Tetra Pak will continue working to expand its initiatives to achieve a more sustainable future for Egypt and the region.
Sky News
3 days ago
- Business
- Sky News
Energy Asia: Government, industry urge swift energy transition
Energy Asia 2025 concluded with a resounding call for urgent, inclusive and actionable delivery of the energy transition. Held in Kuala Lumpur from 16 to 18 June, the conference drew more than 4,000 delegates from 60 countries and 38 industries to discuss how the region can balance rising energy demand with decarbonisation targets under the theme 'Delivering Asia's Energy Transition'. With over 180 speakers and more than 150 sessions, Energy Asia marked a step change in how the region approaches the energy transition - not as a future ambition, but as an immediate priority requiring delivery at scale. The second edition of Energy Asia was officially launched by the Prime Minister of Malaysia, Dato' Seri Anwar Ibrahim, and hosted by PETRONAS in partnership with CERAWeek by S&P Global. From the opening keynote to the final sessions, discussions were centred around the knotty conundrum of meeting growing energy demand while advancing the Asian energy ecosystem through decarbonisation, economic development, and social equity. Call for greater collaboration and investments Asia's energy transition is uniquely complex. Nations must expand access for growing populations while cutting emissions, making planning and investment more challenging. Collaboration is key to effectively address the energy transition, not just across conventional energy players, but also industry leaders in cleantech and renewables, power and utilities, finances and logistics, as well as policymakers and authorities. The Malaysian Prime Minister underscored that while most Southeast Asian nations have committed to net-zero targets, clean energy investment remains disproportionately low - just 2% of global spending in 2023, despite the region consuming half the world's energy. Tengku Muhammad Taufik, PETRONAS chief executive officer and Energy Asia Chairman, stressed the need for regionally specific solutions amid growing disruptions. He also called for a balance to be struck between sustainability and energy security, noting over 350 million Asians still lack reliable electricity. "The objective of Energy Asia 2025 is to address the realities of the energy transition within the context of this region," Mr Muhammad Taufik said in an interview after the conference. "The perspectives aired over the past three days have successfully highlighted the existing and emerging challenges faced and underscored the imperative to build a resilient energy system." He added that Asia stood firm in its "pragmatic and collaborative approach in shaping a just and equitable energy future for more than half of the global population." "Beyond the thought leadership that was front and centre at the conference, Energy Asia 2025 also witnessed the formation of numerous new initiatives and partnerships, that are positioned to deliver real outcomes for the region," Mr Muhammad Taufik said. Speakers also emphasised the evolving role of energy demand driven by artificial intelligence and digital infrastructure. The conference featured speakers including OPEC Secretary General Haitham Al Ghais, Saudi Aramco CEO Amin Nasser, and TotalEnergies Chairman Patrick Pouyanné. Delivering Asia's energy transition Energy Asia went beyond conversations. The conference marked the signing of 14 memoranda of understanding and several major partnership announcements between some of the world's largest energy companies. PETRONAS, Malaysia's state oil company, announced a strategic cooperation agreement with French energy giant TotalEnergies to expand upstream operations in Malaysia. The Malaysian company also signed a framework agreement with Italy's Eni to explore regional upstream joint ventures, and reached a liquefied natural gas supply deal with Commonwealth LNG to diversify exports to the United States. Other significant announcements included PETRONAS's agreement with Japan's JERA to collaborate across the gas value chain, supporting Japan's energy security objectives. PETRONAS also announced plans for an Energy Transition Academy to train workers for low-carbon industries. Focus on Carbon Capture Technology Several initiatives launched at the conference target carbon capture and storage technology. PETRONAS announced the formation of Jules Nautica, a joint venture with shipping companies MISC Berhad and Mitsui O.S.K. Lines to operate vessels that transport liquefied carbon dioxide for storage projects. The company also launched what it calls the Blue Carbon Collective, a research partnership with Mercedes-AMG PETRONAS Formula 1 Team and universities in Brazil and Malaysia to study mangrove-based carbon capture methods. EAGLe Forum Produces Sturdy Framework A landmark feature of this year's conference was the inaugural Energy Asia Global Leadership Executive Forum (EAGLe), a closed-door gathering of over 30 global CEOs and C-suite leaders from energy, finance, technology, and professional services. This high-level dialogue produced alignment on four critical areas of action: building resilient energy systems - sharing best practices for energy system resilience; improving project financing; reducing emissions whilst delivering social benefits; and accelerating technology deployment. The forum, held under Chatham House rule, marked the first time such a gathering has taken place in Asia focused specifically on energy transition challenges. Energy Park: Where innovation and collaboration converge The accompanying Energy Park exhibition attracted nearly 14,000 visitors over three days, showcasing emerging technologies from carbon capture systems to renewable energy platforms. Conference organisers said the 52 corporate sponsors and high attendance demonstrated strong industry support for collaborative approaches to energy transition. Asia accounts for more than half of global energy consumption and a similar proportion of carbon emissions. The region's approach to energy transition will significantly influence whether global climate targets can be met, according to energy analysts.
Yahoo
3 days ago
- Business
- Yahoo
Quinbrook Makes First Irish Investment with Wexford Synchronous Condenser Project
Quinbrook Cements Leadership in Grid Stability with Irish Expansion LONDON, July 29, 2025--(BUSINESS WIRE)--Quinbrook Infrastructure Partners ("Quinbrook"), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, today announced that it has closed its first investment in the Republic of Ireland with the acquisition of the Wexford Synchronous Condenser Project ("Wexford"), a proposed 963 MVA.s. facility to be located in Co. Wexford, Ireland. Wexford, originally developed by Green Frog Power, was awarded a long-term revenue contract under the Low Carbon Inertia Services (LCIS) tender in June 2024. The project is configured to provide critical grid services including inertia, short-circuit level, and reactive power that are essential to maintain stability in the Irish electricity grid. "Wexford marks a significant milestone for Quinbrook as we continue to grow our grid stability portfolio and mark our first investment in Ireland," said Keith Gains, Managing Director and UK Regional Leader for Quinbrook. "The Wexford project underscores our commitment to building critical infrastructure that supports Ireland's energy transition and strengthens grid resilience. As Ireland moves toward its goal of sourcing 80% of electricity from renewables by 2030, investments in grid stability are essential. We are excited to bring our team's expertise to Ireland to help accelerate the shift to a more sustainable power system." This latest investment builds on Quinbrook's grid stability leadership in the UK where it is the largest private owner of synchronous condensers, with over £430 million now committed for investment across its portfolio. With three projects already operational and four more under construction, Quinbrook is applying its proven model to support Ireland's transition to a more resilient and decarbonised power system. Synchronous condensers provide grid stability by providing system inertia, reducing the risk of blackouts. While thermal generation plants create inertia through large rotating turbines, renewables such as wind and solar do not, constraining the deployment of renewable energy. Synchronous condensers offer a cost-effective, zero-emissions solution to this challenge by replicating the stabilising effect of traditional generators, allowing more renewable energy to be used without compromising grid reliability. Procurement and construction for Wexford will be overseen by Quinbrook's long-standing delivery partner, Welsh Power. Having successfully developed and managed construction for Quinbrook's existing synchronous condenser projects in the UK, Welsh Power brings deep technical expertise and a proven track record in delivering complex grid infrastructure. Quinbrook will fully fund the construction phase, with Wexford expected to commence operations in 2027. About Quinbrook Quinbrook Infrastructure Partners ( is a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition in the UK, US, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c. USD 6.9 billion of equity capital in 40 GW of energy infrastructure assets representing a total transaction value of USD 29.8 billion. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the UK, US, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects in the UK, US, and Australia. View source version on Contacts Media Contact:Jennifer Pflieger+1 (212) 446-1866jpflieger@ 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
