It generates more revenue than Apple Inc. and Boeing Co. combined and serves one in seven people on the planet. Meet State Grid Corp. of China, a company that may be buying power assets near you. While State Grid is hardly a household name, its geographic footprint extends from South America to Australia, where it’s a contender to acquire a stake in Sydney-based power network Ausgrid. Hungry to grow outside China, the company plans to develop a $50 trillion global energy network that could enable electricity to be transmitted beyond continental boundaries.
President Obama and President Xi Jinping of China said Thursday that they would sign the Paris Agreement on climate change on April 22, the first day the United Nations accord will be open for government signatures. Officials cast the announcement as a statement of joint resolve by the world’s two largest greenhouse gas polluters, even though there are doubts about whether the United States can meet its obligations under the agreement.
More than a decade after the birth of the modern renewable energy industry, solar and wind await their John D. Rockefeller
Clean power remains a tumultuous and fragmented business, crowded with companies grabbing for slices of an emerging market that aspires to reshape how the world meets its energy needs. They rise and fall as technology advances and demand seesaws. Some have grown into sprawling regional players, often propped up by government subsidies. A few, like Suntech Power Holdings Co. and Q-Cells SE, soared to prominence, then all but flickered out. Yet there are still no companies that dominate the industry.
Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets. Over a five-hour conversation, Deputy Crown Prince Mohammed bin Salman laid out his vision for the Public Investment Fund, which will eventually control more than $2 trillion and help wean the kingdom off oil. As part of that strategy, the prince said Saudi will sell shares in Aramco’s parent company and transform the oil giant into an industrial conglomerate. The initial public offering could happen as soon as next year, with the country currently planning to sell less than 5 percent.
“Air pollution-associated preterm birth contributes direct medical costs in the first few years of life due to associated conditions, such as in the newborn intensive care unit, as well as lost economic productivity due to developmental disabilities and lost cognitive potential,” lead study author Dr. Leonardo Trasande, an environmental health researcher at New York University School of Medicine in New York City, said by email.
Did you know over 17 million Americans have asthma? Or that every year it’s responsible for more than 10 million doctor visits and 1.8 million trips to the emergency room? Health professionals tell us one of the biggest triggers for an asthma attack is air pollution. “Unhealthy air is hazardous to our families and even can threaten life itself,” according to the American Lung Association’s Healthy Air Campaign.
A melting Antarctica alone could raise oceans by more than 3 feet by the end of the century if greenhouse gas emissions continued unabated, roughly doubling previous total sea-level rise estimates, according to new research. Scientists previously thought glacial melt in Antarctica would raise sea levels only by a little or only in the far future. But that’s changing as researchers learn more about the different ways the continent’s ice sheets could dump water into the oceans.
CPS Energy reports that 45 percent of San Antonio’s daily energy needs on Tuesday were met through wind energy generated from seven contracted farms. “The wind record and decreased coal generation demonstrate the power of having a diverse generation portfolio,” Cris Eugster, EVP and chief generation and strategy officer, says in a blog post. “This diversity gives us the flexibility we need to pivot with our generation choices and make decisions that keep rates steady, which benefit our community in more ways than one.”
China’s biggest power transmission company has signed deals with three Asia-Pacific investors to help push its ambition to build a cross-border energy super grid that will help combat climate change, integrate renewable energy sources and boost exports. The State Grid Corp of China has been urging authorities to give the go-ahead for more cross-country ultra-high voltage (UHV) power lines to connect coal and hydropower plants in China’s remote west to the energy-hungry eastern coast.
Just nine months ago, SunEdison Inc. was Wall Street’s favorite clean-energy company. It sopped up every dollar it could come by to finance a breathtaking buying binge of wind and solar farms, and in the process became the world’s largest renewable-energy company. Now, SunEdison is teetering on the verge of bankruptcy protection, its stock below $1. The company’s fall is largely its own doing, the almost inevitable result of an ascent that was built on financial engineering and cheap debt. But it had plenty of enablers in the form of bankers, who pocketed fees with each acquisition, and investors, who reaped attractive dividends in a protracted stretch of low interest rates.