GERE Goes Carbon Neutral
GE Renewable Energy, the renewable energy arm of US industrial technology giant General Electric, announced its plan to make 100 percent of its operations carbon neutral by the end of 2020.GE Renewable Energy will reach carbon neutrality by reducing emissions through operational efficiencies, securing renewable electricity supply to all GE Renewable Energy sites throughout its operations for wind, offshore wind, hydropower, energy storage and grid businesses –…
Microsoft, Eneco Sign Energy Pact
Microsoft will purchase 90 MW from the massive 731.5 MW offshore wind project, Borssele III/IV, from Dutch sustainable energy company and wind farm developer Eneco.Eneco will provide Microsoft’s datacenters with green power for 15 years starting in 2022, said a press release from the technology giant."This is Microsoft’s second purchase of wind energy in the Netherlands in a year, which brings its total wind energy purchases to 270 MW in the Netherlands — one of the largest corporate renewable energy portfolios in the country…
Ingeteam Joins Spain's First Offshore Wind Turbine
Spanish power technology giant Ingeteam is participating in the first bottom-fixed foundation offshore wind turbine prototype to be installed in Spain and the first of its kind in southern Europe.At the request of Estyco, the project leader, the Ingeteam business unit specializing in energy plant operation and maintenance, through its High Voltage department, was responsible for the supervision and analysis of the electrical work on the wind turbine.Specifically…
ExxonMobil, IBM Partner on Quantum Computing
Oil supermajor ExxonMobil announced Tuesday it has signed a partnership agreement with technology giant IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies.The agreement sees ExxonMobil become the first energy company to join the IBM Q Network, a worldwide community of Fortune 500 companies, startups, academic institutions and national research labs working to advance quantum computing and explore…
Will Saudi Aramco Deliver Record Profit for IPO?
Saudi Aramco is world's biggest oil producing company; but valuation demands annual earnings around $130 billion. When oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a $2 trillion valuation in its initial public offering (IPO). Investors have long debated whether Aramco could be valued anywhere close to $2 trillion, the figure suggested by Saudi Crown Prince Mohammed bin Salman…
Google Invests $300 mln Residential Solar Projects
SolarCity Corp on Thursday said it created a $750 million fund to finance about 25,000 residential solar projects, with Google Inc investing nearly half the funding. The money will be used by SolarCity to put solar panels on homes. Homeowners then will pay a monthly fee to lease the panels from the company. The growth of such financing has made generating electric power from the sun an option for households who do not want to shell out the $20,000 to $30,000 upfront cost of a typical residential solar system.
