Latest news with #renewable
Reuters
9 hours ago
- Business
- Reuters
TC Energy beats profit estimates on natural gas and power demand
July 31 (Reuters) - Canadian pipeline operator TC Energy ( opens new tab beat analysts' estimates for second-quarter profit on Thursday, helped by increased natural gas and power demand. With energy demand growing across North America, the need for renewable and lower-emission electricity is also set to rise. TC Energy believes new hydro, solar, wind, nuclear and energy storage capacity will be required to meet growing demand and support a shift in the energy mix. The company's total quarterly revenue rose 12% to C$3.74 billion ($2.70 billion), supported by higher adjusted core earnings from Mexican, Canadian and U.S. natural gas pipelines. On an adjusted basis, the Calgary-based company earned 82 Canadian cents per share for the three months ended June 30, compared with analysts' average expectation of 78 Canadian cents, according to data compiled by LSEG. ($1 = 1.3849 Canadian dollars)
Reuters
a day ago
- Business
- Reuters
UK regulator to review alternative energy pricing for consumers
OSLO, July 30 (Reuters) - Britain's energy regulator Ofgem on Wednesday announced a review into how costs are allocated across the energy system, including alternative pricing models for consumers, to better adapt to more renewable energy supply. Britain has a target to largely decarbonise its power sector by 2030 which will mean reducing its reliance on gas-fired power plants and rapidly increasing its renewable power capacity. Less reliance on the price of gas is expected to bring down the variable costs of the energy system, Ofgem said. "However, fixed costs, such as those needed to upgrade the energy network to deliver cleaner and more secure power to our homes – could rise," Ofgem chied executive Jonathan Brearley said in a statement. Under the current regimes, system costs are paid for by energy system users and consumers through their energy bills, with separate stand-alone bills for electricity and gas. Given the expected system changes and increasing proportion of energy costs on household bills than previously, now was the right time to look at potential alternative models in how bill-payers are charged, Ofgem said. This included ensuring that increased fixed costs do not disproportionately affect vulnerable and low-income consumers, it added. The regulator stressed that it is only seeking views at this point and is not recommending any specific option.
Irish Times
3 days ago
- Business
- Irish Times
Renewable fuel source faces curbs on back of fraud fears
Suppliers argue that Minister for Transport Darragh O'Brien risks overstepping the mark if he curbs imports of some green transport fuel on the back of fears over fraud. Mr O'Brien recently ended an extra incentive for the use of processed palm oil mill effluent (pome) as biofuel after the National Oil Reserves Agency conceded that production in some Far Eastern countries was high enough to spark concerns about fraud. Biofuel producers here and in Europe have been warning that exporters in the Far East are labelling actual palm oil, which the European Union does not classify as a renewable fuel, as pome. This allows them sell huge quantities of fraudulently labelled palm oil cheaply, undercutting European producers who play by the rules. Pome is the waste produced from manufacturing palm oil. The EU allows its use as biofuel, which means it benefits from incentives to encourage green road transport fuel in member states. READ MORE The Republic obliges suppliers to ensure that up to 25 per cent of the petrol and diesel they sell is renewable. However, up to this month, this obligation fell by a third if they used pome, making it a cheaper option for oil companies. Mr O'Brien ended this incentive at the beginning of the month and has not ruled out imposing a limit on pome imports. That is a step that industry body, Fuels for Ireland, says would go too far. Kevin McPartland, the organisation's chief executive, argues that the problem lies not with pome, but with enforcement at both European Union and national level. The Government should wait for a new EU biofuel database, due shortly, that will allow greater scrutiny of companies producing pome and other green fuels manufactured from waste, he argues. However, while European producers say the database is a step in the right direction, they maintain that the risk of fraud is now so high that curbs may ultimately be the only way of tackling the problem. Whether or not Mr O'Brien curbs imports, it looks like he will face a row with one or other element of the State's fuel industry.
Yahoo
3 days ago
- Business
- Yahoo
Argan, Inc.'s Atlantic Projects Company Executes Platin Power Station Contract with SSE
ARLINGTON, Va., July 28, 2025--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) ("Argan" or the "Company") today announces that its wholly owned subsidiary, Atlantic Projects Company ("APC"), entered into an engineering, procurement and construction services contract for the Platin Power Station with SSE Thermal, part of the integrated energy group SSE plc. The project, located in County Meath, Ireland, will consist of three Siemens Energy SGT-800 turbines operating in open cycle mode with supporting balance of plant equipment. The project will provide approximately 170 MW of generation capacity to the grid during periods of high demand and supply shortfalls from renewable sources. Planned completion is expected in 2028. This marks a significant milestone for APC and strengthens its ongoing relationship with one of the UK and Ireland's leading energy companies. Charles E. Collins, IV, Executive Managing Director of APC, commented, "We are honored to have been selected once again by SSE and thank them for their continued trust in the Atlantic Projects Company. The Platin Power Station contract represents our second project with SSE this year, and we look forward to building on this strong partnership as we work together to deliver a successful project that supports the transition to cleaner, more efficient, and sustainable energy solutions." Finlay McCutcheon, Managing Director of SSE Thermal, said, "We're proud to once again partner with Atlantic Projects Company, and Siemens Energy, to deliver Platin Power Station. Our focus is now on working together to complete the project safely and efficiently. By providing flexible power generation, Platin will help strengthen Ireland's security of supply while supporting the country's net zero ambitions." About Atlantic Projects Company Atlantic Projects Company is a leading provider of engineering, construction and other technical services primarily for power generation clients. APC performs turbine, boiler and large rotating equipment installation, commissioning and outage services for original equipment manufacturers, EPC contractors and plant owners located primarily in the Republic of Ireland and the United Kingdom. For 50 years, APC has successfully completed over 8,000 projects on four continents. About Argan Argan's primary business is providing a full range of construction and related services to the power industry. Argan's service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services. Safe Harbor Statement Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company's future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities and the Company's ability to successfully complete the projects that it obtains. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company's SEC filings. View source version on Contacts Company Contact: David Watson301.315.0027Investor Relations Contacts: John Nesbett/Jennifer BelodeauIMS Investor Relations203.972.9200 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
Yahoo
6 days ago
- Business
- Yahoo
First Solar, Inc. (FSLR): A Bull Case Theory
We came across a bullish thesis on First Solar, Inc. on Stock Analysis Compilation's Substack. In this article, we will summarize the bulls' thesis on FSLR. First Solar, Inc.'s share was trading at $180.72 as of July 24th. FSLR's trailing and forward P/E were 15.27 and 11.86, respectively according to Yahoo Finance. A photovoltaic field at dawn, its solar panels shimmering in the light of a new day. First Solar, Inc. (FSLR), a U.S.-based photovoltaic solar technology and manufacturing company, is uniquely positioned to capitalize on the rising energy demands driven by AI infrastructure growth and supportive 'America First' energy policies. As the only U.S. solar module manufacturer operating at scale, FSLR benefits from structural tailwinds favoring domestic production, with its sales already fully booked through 2026. Demand momentum is expected to build further as developers rush to secure capacity that qualifies for subsidies ahead of the expiration of key provisions under the Inflation Reduction Act (IRA). Clarity on final IRA rules is anticipated to accelerate contract wins, providing additional visibility and backlog security. FSLR's positioning as the go-to domestic supplier, coupled with its technological expertise, makes it a prime beneficiary of policy-driven reshoring and the surge in utility-scale solar projects catering to the rapidly expanding AI data center ecosystem. This demand pull-through is underpinned by the urgent need to meet soaring energy consumption with renewable generation, reinforcing FSLR's long-term growth trajectory. The company's solid backlog, strong policy support, and strategic market leadership offer investors a high degree of revenue certainty, with upside potential as further contracts are secured under favorable subsidy terms. As AI-driven electricity consumption accelerates, FSLR's unique scale and subsidy-qualified pipeline position it to capture outsized market share, offering an attractive risk/reward profile. Together, these dynamics create a compelling investment case supported by structural growth, policy-driven advantages, and near-term catalysts that enhance earnings visibility and reinforce the company's strategic importance in the U.S. energy transition. Previously, we covered a on First Solar, Inc. (FSLR) by Oliver | MMMT Wealth in April 2025, which highlighted FSLR's CdTe technology, insulation from Chinese supply chains, and benefits from U.S. protectionist trade policies. The company's stock price has appreciated by approximately 39% since our coverage. This is because the thesis played out with policy support and demand tailwinds. Stock Analysis Compilation shares a similar view but emphasizes AI-driven energy demand and IRA subsidies as key growth catalysts. First Solar, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held FSLR at the end of the first quarter which was 65 in the previous quarter. While we acknowledge the potential of FSLR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None.
