Results for: Renewable Energy

Mayor Dan Kutcher’s inaugural state-of-the-city address for Summerside focused on the challenges and opportunities brought by the city’s rapid population growth, which has surpassed 10% in recent years. This growth, while necessary to address labor shortages, has also led to an increase in unhoused individuals, prompting the city to coordinate support services. Summerside is actively building new housing to accommodate its growing population, with over 500 units under construction last summer and an east-west housing corridor project underway. The city has also made progress in revitalizing its downtown with the Regent development and is working to enhance the area’s safety and accessibility. Mayor Kutcher emphasized the city’s commitment to sustainability, highlighting its renewable energy infrastructure and plans for hydrogen power generation.

NextEra Energy (NEE) has reported strong first quarter results, including an 8.3% increase in adjusted earnings per share year-over-year. The company has made significant strides in expanding its renewable energy portfolio, adding 1,640 MW of new solar capacity and 2,765 MW of new renewables and storage projects to its backlog. With the US renewables and storage market expected to triple in size over the next seven years, NextEra Energy is poised to capitalize on the burgeoning demand.

Despite the recent setbacks in the solar industry due to shifting policies and rising costs, the demand for renewable energy remains strong. With signs of a market bottom emerging, now may be an opportune time to invest in some top solar stocks. Here are three multibagger candidates worth considering: First Solar (FSLR), Enphase Energy (ENPH), and Canadian Solar (CSIQ).

SunPower (Nasdaq: SPWR) has announced that it will be winding down its residential solar installations and laying off 1,000 employees. The company, which is one of the largest residential solar installers in the US, has struggled financially in recent months and defaulted on a credit agreement in late 2023. The layoffs will reduce SunPower’s workforce by approximately 20%. Going forward, the company plans to focus on its dealer network and installation partners, as well as its new homes business. SunPower’s announcement is a blow to the US residential solar industry and comes amidst a challenging time for the sector.

Monolith, a leading provider of low-emission carbon black and hydrogen, has announced the renewal and expansion of its partnership with École des Mines de Paris-PSL (Mines Paris) until February 2030. The collaboration will focus on advancing thermal plasma processing research and facilitating customer innovation at Mines Paris’ facility in Sophia Antipolis, France.

Through this expanded partnership, Monolith and Mines Paris aim to leverage their expertise in thermal plasma processing and Monolith’s innovative pyrolysis process to drive innovation in the production of low-emission carbon black and hydrogen. The partnership provides customers with the opportunity to witness the transformative research conducted by Mines Paris firsthand and explore new applications of low-emission carbon black in various industries.

The US Department of the Interior has announced a new five-year leasing schedule for offshore wind energy in the Atlantic, Gulf of Mexico, Pacific, and waters offshore the US territories. The schedule includes up to 12 potential offshore wind energy lease sales through 2028, with four offshore lease sales planned for this year. The move is part of the Biden Administration’s plans to boost offshore wind and other forms of renewable energy to make the grid greener and cut emissions.

Oil and Natural Gas Corp (ONGC) is all set to commence a new drilling initiative in June for India’s first geothermal venture in Ladakh. The project aims to establish a sustainable source for emission-free electricity, space heating, and irrigation in challenging landscapes. If the project progresses smoothly, a power plant with a minimum capacity of 1 MW will be established by the following year. ONGC is receiving guidance from consultants based in Iceland, a nation that relies on geothermal energy for two-thirds of its primary energy needs.

Marco Arcelli, the CEO of ACWA Power, highlighted the increasing affordability and rapid deployment of renewable energy systems in developing countries.

The Biden administration has outlined a five-year schedule for leasing federal offshore tracts for wind energy production. Beginning this year, up to a dozen lease sales are anticipated through 2028. The plan aims to promote renewable energy, reduce consumer costs, and combat climate change while creating jobs and economic opportunities for communities.

The Biden administration has unveiled plans to hold up to a dozen auctions of offshore wind development rights through 2028, including four before the end of this year. This schedule aims to provide predictability for companies, states, and other stakeholders planning projects that require significant investment and infrastructure. The administration is determined to support the nascent U.S. offshore wind industry amidst rising costs and challenges.