Tauron, a Polish company, aims to restart dividends with a new 10-year strategic plan
Tauron, Poland's largest energy utility, plans to pay dividends again from 2029, under a 10-year strategy that runs until 2035. The group stopped paying dividends in 2015, based on the profit of 2014. It then focused on investing. The company said it now plans to pay out a dividend per share of 0.5 zlotys from the profit in 2028 and increase it by 6% per year until 2035 when it will reach 0.7 zlotys. At 0831 GMT, shares of the company had risen 5.5% and were among the top gainers on the MWIG40 mid-cap index in Poland.
Tauron, a Polish utility, has seen its third-quarter profit increase by 65% due to lower costs
The Polish energy utility Tauron reported on Thursday that its net profit for the third quarter of 2014 increased by 65% compared to last year, due mainly to lower coal and material costs. The group's net profit was also boosted by the increase in distribution costs. Tauron is looking for funding to support its renewable energy investments. The company also owns some coal-fired units that receive capacity payments from the European Union. This system expires in 2025.
Spanish utility Cox shares drop in the market debut
The shares of Spanish water and clean energy utility Cox dropped more than 3% on their first trading day, amid market concerns about renewable energy after Donald Trump won the U.S. Presidential election last week. Stocks opened at 10,24 euros ($10.83), a little higher than the reference price of 10,23 euros, set earlier in the week during an initial public offer. However, they fell to 9,86 euros within minutes. The final IPO…
Spanish utility Cox priced shares at 10.23 euro in IPO, implying a market cap of $849 mln
The Spanish water and clean energy utility Cox has set its final price at 10.23 euros per share. This implies a market cap of 805 millions euros. The company announced late on Wednesday that the price had been set at the lower end of the range between 10,23 euros and 11,38 euros. According to documents sent to the Spanish stock exchange regulator, the share price came after the company lowered its IPO size to around 175 million euro from about 200 million euros Tuesday.
Spanish energy and Water Utility Cox raises $329 Million via share listing
Cox Energy, a Spanish water and energy utility, announced on Monday that it plans to raise $300 million ($329 millions) by selling new shares via an initial public offer on the Madrid Stock Exchange. The IPO funds will allow Cox to continue expanding after last year it acquired Spanish engineering group Abengoa which had heavily borrowed to fund a aggressive expansion of clean energy. Enrique Riquelme, Cox chairman, said…
SEA\LNG Expands Membership in U.S.
Houston-based Stabilis Energy has joined SEA\LNG, the multi-sector industry coalition which is seeking to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.Commenting on the development, Peter Keller, Chairman, SEA\LNG, said: "Welcoming Stabilis Energy as a new member demonstrates SEA\LNG’s continued commitment within the ever expanding North American LNG market. LNG is growing in importance in both the energy and marine bunkering markets.
Germany's EnBW mulls 200 MW of wind power addition
German energy utility EnBW plans this year to install 64 new wind turbines across 16 sites with a total generating capacity of more than 200 megawatts (MW), having doubled its wind power capacity in 2016, a top executive said in a newspaper interview due to be published on Saturday. Following are details from the interview with EnBW's head of generation portfolio development, Dirk Guesewell, due to be published in southwestern German newspaper "Heilbronner Stimme".
GE Signs Exelon In Its Largest Power-plant Software Deal
General Electric Co has signed up U.S. energy utility Exelon Corp to use its full software set to analyze and manage power plants in 48 states, the largest GE deployment in the power sector so far, the companies said on Tuesday. The Exelon deal, aimed at wringing greater efficiency from the business of generating electricity, marks another advance in GE's effort to lift annual digital technology revenue to $14 billion in 2020 from $5 billion in 2015, across its many industrial products.
Innogy to Push Windfarms, Electric Car Charging in U.S
Innogy, Germany's largest energy group, is looking at the United States market to expand its renewable energy and electric car charging business, its chief executive told German weekly Welt am Sonntag. "We want to invest around 6.5 billion euros between 2016 and 2018," Chief Executive Peter Terium told the paper, adding that investments will include grid networks and infrastructure but also wind farms in Germany, Poland, the Netherlands and electric car charging stations in the United States.
DONG Hires Maersk Giant
Maersk Drilling has been awarded a new contract for the jack-up rig Mærsk Giant with Danish energy utility DONG Energy. The firm contract covers 150 days of work on the Nini and Siri field in the Danish part of the North Sea. The estimated contract value is USD 16m. The contract is in direct continuation of the current contract with Talisman keeping Maersk Giant employed until March 2016. “We are very pleased to continue our good corporation with DONG Energy, one of our key customers in the North Sea,” says Claus V.
Siemens to Open Plant to Turn Electricity from Wind into Hydrogen
Siemens will on Thursday start an energy project to convert wind power into hydrogen for re-use as a general fuel or in natural gas pipelines. Siemens' electrolysis plant in Mainz is based on Proton Exchange Membrane (PEM) technology, which allows the capture and storage of electricity into hydrogen. It said the plant can process up to 6 megawatts of electricity, making it the biggest PEM installation of its kind worldwide and able to supply 2,000 fuel cell cars.
S.Africa Power Demand to Outstrip Supply This Week
South African peak electricity demand will be higher than the capacity available from Tuesday to Friday, the country's energy utility Eskom said on Monday, raising the likelihood of more power cuts this week. The cash-strapped utility had earlier slashed 2,000 MW from the grid, widening controlled power outages in a bid to prevent demand from exceeding its capacity. Reporting by Helen Nyambura-Mwaura
'Smart' Tech May Make Utilities More Vulnerable to Hackers
Last November, Felix Lindner came very close to shutting down the power supply of Ettlingen, a town of almost 40,000 people in the south of Germany. "We could have switched off everything: power, water, gas," Lindner, head of Berlin-based Recurity Labs, an IT security company, said. Fortunately for residents, Lindner's cyber attack on its energy utility, Stadtwerke Ettlingen, was simulated. But he revealed how easy it was to hack into the utility's network through its IT grid, which gave him access to its control room.
