LONDON--(BUSINESS WIRE)--#chineseoilandgas--The COVID-19 pandemic has taken a substantial toll on the transportation, automotive, and oil and gas industry due to national lockdowns and new remote work systems. The Chinese oil and gas industry was among the first to be impacted, being the first geographical region to be affected, and the virus's widespread nature. The economic impact has led to a reduction in prices, reduced automotive usage, and changed consumers’ traveling and expense patterns, taking a further toll on the industry. Therefore, top industry players are now aiming to forecast and prepare for changes in demand in the post-COVID era and making necessary changes within their supply chains, inventory, and cash flow strategies to achieve a strong recovery after this crisis. Infiniti’s market potential analysis helps companies in the Chinese oil and gas industry analyze the expected demand in the post-COVID era and make the necessary adjustments to achieve operational excellence.
To leverage Infiniti’s market potential analysis for comprehensive insights into the demand, ideal supply chain strategies, and inventory management solutions for the Chinese oil and gas industry in the post-COVID era, request a free proposal.
“To maintain a superior level of operational excellence in the post-COVID-19 era, oil and gas companies must also consider some critical factors including crisis management, reliability, productivity, supply chain management, and cost optimization,” says an oil and gas industry expert at Infiniti Research.
Business Challenge:
The client, a leading Chinese oil and gas industry client, struggled due to production and price declines caused by the jarring COVID-19 pandemic. With various operational and financial challenges in the market, the client also suffered from supply chain vulnerabilities, cash flow constraints, and workforce management obstacles. The geographically fragmented supplier base and lack of visibility into their supply chain and spend led to further complications. Therefore, the Chinese oil and gas industry client sought to partner with Infiniti Research, leverage our expertise in offering market potential analysis, and re-evaluate their operations. During the nine-week engagement, the oil and gas industry player also wanted to optimize spend analysis, divest from under-performing assets, and adjust cash flow management.
Our Approach:
Infiniti’s market potential analysis experts developed a five-phased approach to assist the Chinese oil and gas industry client, that included the following processes:
Business Outcome:
By leveraging Infiniti’s market potential analysis, the Chinese oil and gas industry client improved spend data quality and accuracy and gained complete visibility into streamlined processes and procurement. By forecasting potential post-COVID market demand, the client reduced their capacity and cost structure and reduced operating costs by outsourcing corporate processes, such as shifting non-core functions to contractors. Further, the Chinese oil and gas industry player identified alternative suppliers and safeguarded their supply chain operations by gaining a comprehensive understanding of supply chain risks and identifying local suppliers to support them during a crisis. The client identified new ways to reduce cash outflow and adjusted their inventory for the post-COVID era by reviewing their inventory position and assessing supply chain complexities.
Speak to industry experts to leverage our market potential analysis and prepare for the post-COVID era in the oil and gas industry by adjusting inventory, re-evaluating cash outflow, and devising strategies to improve employee safety.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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LONDON--(BUSINESS WIRE)--#ContainerLeasingMarket--The container leasing market is poised to grow by 26.35 million teu during 2020-2024, progressing at a CAGR of almost 17% during the forecast period.
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The report on the container leasing market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report offers an up-to-date analysis regarding the current global market scenario and the overall market environment. The market is driven by growth in international containerized seaborne trade.
The container leasing market analysis includes type segment and geography landscape. This study identifies the rising dominance of leasing players in the global reefer container market as one of the prime reasons driving the container leasing market growth during the next few years.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The container leasing market covers the following areas:
Container Leasing Market Sizing
Container Leasing Market Forecast
Container Leasing Market Analysis
Companies Mentioned
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by container type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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ATHENS, Greece--(BUSINESS WIRE)--In its annual research update released on 27 November 2020, S&P upgraded PPC’s stand-alone credit profile (SACP) upward by two notches to ‘B’ from ‘CCC+’, resulting in an overall upgrade of the long-term credit rating of PPC to ‘B’ from ‘B-‘.
According to S&P the two notch upgrade in PPC’s standalone corporate rating confirms that the Company’s strategic repositioning and the improved Greek energy market fundamentals have transformed its competitive position, reducing past concerns over its liquidity and long-term sustainability.
The ‘Stable’ outlook underscores S&P’s expectation that PPC will continue to deliver on its transformation plan, with solid liquidity and improved margins. PPC’s strategic plan to convert its generation mix toward lower carbon dioxide (CO2) emissions improve its fleet competitiveness and long-term prospects.
As mentioned in their report, S&P expects a substantial increase in EBITDA and improvement in credit metrics on the back of higher profitability as PPC accelerates the closure of its lignite generation plants and shifts its competitive position in the retail market.
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CPUC Approves Most Aspects of 2020 General Rate Case Multi-Party Settlement Agreement Reached in 2019
Investments Include Efforts to Further Reduce Customer Impacts of Public Safety Power Shutoffs
Company Proposes Cost Savings Initiatives to Help Reduce Customer Costs
SAN FRANCISCO--(BUSINESS WIRE)--Today, the California Public Utilities Commission (CPUC) approved most aspects of a multi-party settlement agreement between Pacific Gas and Electric Company (PG&E or the Utility) and customer advocacy, labor and safety groups that resolved PG&E’s 2020-2022 General Rate Case (GRC), which includes the Utility’s ongoing efforts to reduce wildfire risk and to continue delivering safe and reliable service to customers.
The GRC decision enables necessary investment in PG&E’s electric and gas distribution systems and power generation infrastructure, including investments to reduce the risk of catastrophic wildfires through electric system hardening, enhanced vegetation management, system automation, and asset inspection and repair.
The GRC also enables PG&E to continue its efforts to make Public Safety Power Shutoff (PSPS) events smaller in size, shorter in duration and smarter in execution. Those efforts include devices that limit the size of outages to impact fewer customers; temporary generators to provide power to essential services and communities that would otherwise be shut off for safety; crews for inspection and restoration efforts; and customer notifications in 13 languages that provide estimates about when power will be shut off and restored.
“The safety of our customers and communities we are privileged to serve is where everything begins for PG&E. It’s our most important responsibility. We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system. We are pleased that today’s action by the Commission approves much of the negotiated multi-party settlement, which allows us to continue those efforts and underscores our commitment to the 16 million people we serve,” said Robert Kenney, PG&E Vice President, Regulatory and External Affairs.
Reducing Wildfire Risk
Among the important wildfire safety investments funded by the GRC are the following components of PG&E’s Community Wildfire Safety Program:
While the 2020 GRC will help fund a series of important safety investments, it will not fund legal claims resulting from the 2017 and 2018 Northern California wildfires. It also will not fund any PG&E Corporation or Utility officer compensation.
With the CPUC approval of the settlement agreement, the average monthly bill for a typical residential electric and gas customer will increase by $13.44 a month. This includes $10.40 for electric and $3.05 for gas service. The 2020 GRC rate change, which incorporates bill impacts for 2020 and 2021, will be effective March 1, 2021 and will impact rates until Dec 31, 2022.
”PG&E’s commitment is to keep customer costs as low as possible while meeting our responsibilities to safely serve our customers, even as our changing climate presents significant new challenges and risks,” Kenney said.
Cost Savings Initiatives to Help Reduce Customer Costs
To help reduce customer costs, PG&E has identified an estimated average savings of $1 billion per year in operational costs through 2025 from various cost savings initiatives. Cost savings initiatives include the sale of PG&E’s San Francisco General Office headquarters and move to Oakland, sale of surplus property, sale of excess renewable energy, renegotiation of Power Purchase Agreements, strategic sourcing, and workforce management. These savings will help moderate the expected increase in customer bills to support infrastructure investment.
How Customers Can Save Money on Energy Bills
PG&E offers energy management tools and rate options to help customers reduce their energy usage and maximize their energy cost savings. Here are four ways customers can take control of their energy use:
For more tips on how to save energy, visit pge.com/everydaytips.
To take advantage of additional programs, tools and savings opportunities, PG&E recommends customers become more familiar with the following:
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of the Utility, including but not limited to statements regarding the Utility’s efforts in connection with its PSPS events, reducing wildfire risk, estimated average savings of $1 billion per year in operational costs through 2025, and cost savings initiatives. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility’s joint annual report on Form 10-K for the year ended December 31, 2019, their joint quarterly reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, September 30, 2020, and other reports filed with the SEC, which are available on PG&E Corporation's website at www.pgecorp.com and on the SEC website at www.sec.gov. Additional factors include, but are not limited to, those associated with the Plan of Reorganization of PG&E Corporation and the Utility that became effective on July 1, 2020. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com and www.pge.com/news.
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DUBLIN--(BUSINESS WIRE)--The "Denmark Offshore Oil and Gas Decommissioning Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The offshore oil and gas decommissioning market in Denmark is expected to grow at a CAGR of more than 6% during the forecast period of 2020-2025.
The maturing offshore fields and aging wells are moving towards the dry phase, driving the market of well decommissioning. With the increase in restrictive regulations, and the rising associated cost of operating aging platforms, the focus of operators on offshore decommissioning is increasing at a significant rate. On the other hand, the ongoing global pandemic of COVID-19 is likely to affect different operations and businesses and is expected to restrain the market growth.
With declining offshore fields in shallow water, the decommissioning of wells and platforms in shallow water are expected to dominate the market.
The European Union is shifting towards renewable energy, resulting in a decline in the share of oil and gas. Additionally, in the future, deepwater fields are expected to undergo dry phase. With these opportunities in the decommissioning market are expected to grow.
Abandonment of wells is expected to drive the market significantly. A large number of wells in the North Sea are expected to be abandoned during the forecast period.
Key Market Trends
Shallow Water Projects to Dominate the Market
Most of the shallow fields in Denmark are under the declining phase, which is expected to create demand for decommissioning services in shallow water.
Plug and Abandonment Operations to Dominate the Market
The well plugging & abandonment segment is expected to be the largest market, by service during the forecast period. This growth is evident owing to crucial activity to be performed regardless of decommissioning type; it ensures that oil wells do not have any kind of leakage after the cessation of production.
Competitive Landscape
The Denmark offshore oil and gas decommissioning market is consolidated. Some of the major companies include Bureau Veritas SA., Bureau Veritas SA, AF Gruppen ASA, A.P. Moeller Maersk A/S, and Saipem S.p.A.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Water Depth
5.1.1 Shallow Water
5.1.2 Deepwater and Ultra-Deepwater
5.2 Operation
5.2.1 Plug and Abandonment
5.2.2 Topside Substructure and Subsea Infrastructure Removal
5.2.3 Others
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Aker Solutions ASA
6.3.3 Bureau Veritas SA
6.3.4 A.P. Moller - Maersk B A/S
6.3.5 Saipem S.p.A.
6.3.6 AF Gruppen ASA
6.3.7 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/65vdy9
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SAN DIEGO--(BUSINESS WIRE)--#clear--A team of leading resilience experts — XENDEE Corporation, RAND Corporation, Converge Strategies, LLC, and Ridgeline Energy Analytics — will support the Town of West Tisbury and Brigham and Women’s Hospital in their planning and design of climate-resilient energy infrastructure.
This community-level project is funded by the Baker-Polito Administration through the Clean Energy and Resiliency (CLEAR) program, launched by the Massachusetts Clean Energy Center (MassCEC).
“Building on MassCEC’s Community Microgrids program, this program is focused on assisting communities with resilient design studies while at the same time generating a toolkit and certification for all Massachusetts’ communities to reference in the future,” said MassCEC CEO Stephen Pike. “We are excited by both the awarded communities and the technical consultants who will be leading this effort and defining how Massachusetts buildings and communities should pursue resiliency efforts moving forward.”
The CLEAR project team will leverage its mission-focused resilience approach and XENDEE’s energy resilience analysis platform to determine how the town of West Tisbury and Brigham and Women’s Hospital can strengthen their energy infrastructure against extreme weather and grid interruptions to ensure that their lifeline facilities and emergency services are positioned to serve their communities when they are most in need.
“MassCEC’s investments in the CLEAR program reflect the growing recognition among policymakers that building societal resilience has to be done from the bottom-up, one community at a time,” said Benjamin Preston, Senior Policy Researcher at the RAND Corporation. “We are quite excited about this opportunity to work collaboratively with Massachusetts communities, MassCEC, electrical utilities and a talented group of technical experts to facilitate a transition to a more resilient energy future.”
“The lifeline systems that we rely on for electricity, heat, and other critical services are under threat from extreme weather and determined adversaries. Massachusetts is looking to its technology innovators to help keep the lights on when the power goes out utilizing clean energy technologies like solar and storage,” said Wilson Rickerson, Principal of Converge Strategies, LLC.
“With experience in Department of Defense projects, the XENDEE team understands the importance of climate-resilient energy infrastructure. Our platform delivers the decision support technology necessary for community planners to transition toward implementation of renewable energy Fight-Through™ resilient community Microgrids, cost-effectively and at scale," said Adib Naslé, CEO of XENDEE Corporation.
“We are thrilled to be able to provide field support for the Town of West Tisbury and Brigham and Women’s Hospital,” said David Korn, Vice President and Co-Founder of Ridgeline Energy Analytics. “As a Massachusetts-based company, we are committed to local energy efficiency and understand the importance of local communities building resilient energy infrastructure.”
MassCEC is currently soliciting Expressions of Interest from communities interested in participating in the CLEAR Program. For information on how to apply, visit Community Clean Energy and Resiliency Program – Expression of Interest.
About XENDEE
XENDEE develops world-class Microgrid decision support software that helps designers and investors optimize and certify the Fight-Through™ resilience and financial performance of projects with confidence. The XENDEE Microgrid platform enables a broad audience; from business decision makers to scientists, with the objective of supporting investments in Microgrids and maintaining electric power reliability when integrating sources of renewable generation.
About the RAND Corporation
The RAND Corporation is a research organization that develops solutions to public policy challenges to help make communities throughout the world safer and more secure, healthier and more prosperous.
About Converge Strategies, LLC
Converge Strategies, LLC is a consulting company focused on the intersection of clean energy, resilience, and national security. We work to build partnerships between the military, private companies, and governments to accelerate resilience and security in the clean energy transformation.
About Ridgeline Energy Analytics
Ridgeline Energy Analytics is a consulting firm that provides energy data analysis and energy efficiency and renewable energy services to public and private clients across the United States. Ridgeline Energy Analytics is registered provider for North American Board of Certified Energy Practitioners (NABCEP) and is a certified Women’s Business Enterprise (WBE) and certified Woman Owned Small Business (WOSB).
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DUBLIN--(BUSINESS WIRE)--The "Europe Bunker Fuel Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The bunker fuel market in Europe is expected to grow at CAGR of more than 10% during the forecast period of 2020-2025
The increasing preference of LNG-based vessels and growing LNG trade is a significant factor in driving the demand for bunker fuels in Europe during the forecast period. Additionally, increasing maritime export and import in countries like Germany and the United Kingdom, considerable growth is anticipated in the coming years. However, the recent outbreak of COVID-19 has significantly affected the consumption of bunker fuel. With the closure of international and domestic trade movements to curb the spread of the virus, the demand for bunker fuel is expected to decline during the pandemic.
Key Market Trends
VLSFO to Witness Significant Growth
Marine fuel containing less than 0.5% of sulfur is generally termed as very-low sulfur fuel oil. From January 1, 2020, HSFO can only be used in ships having scrubbers installed to reduce the emissions, which will drive the demand of VLSFO.
Germany to Dominate the Market
In an aim to reduce carbon emissions by 2030, Germany has been slowly moving towards LNG bunkering over recent years. In October 2019, Nauticor conducted the first ship-to-ship LNG bunkering operation at the Elbehafen Brunsbuttel, part of Brunsbuttel Ports, Germany.
Competitive Landscape
The Europe bunker fuel market is moderately fragmented. Some of the major companies include Gazprom Neft PJSC, BP PLC, Royal Dutch Shell PLC, Total SA, AP Moeller Maersk A/S.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 High Sulfur Fuel Oil (HSFO)
5.1.2 Very-Low Sulfur Fuel Oil (VLSFO)
5.1.3 Marine Gas Oil (MGO)
5.1.4 Liquified Natural Gas (LNG)
5.1.5 Others
5.2 Vessel Type
5.2.1 Containers
5.2.2 Tankers
5.2.3 General Cargo
5.2.4 Bulk Carrier
5.2.5 Others
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Gazprom Neft PJSC
6.3.2 BP PLC
6.3.3 AP Moeller Maersk A/S
6.3.4 Royal Dutch Shell PLC
6.3.5 Total SA
6.3.6 PJSC Lukoil Oil Company
6.3.7 Exxon Mobil Corporation
6.3.8 Bomin Bunker Holding GmbH & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9ck5qn
ResearchAndMarkets.com
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LONDON--(BUSINESS WIRE)--#GlobalWetgasMetersMarket--Technavio has been monitoring the wetgas meters market and it is poised to grow by USD 497.60 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AMETEK Inc., Emerson Electric Co., Expro Holdings UK2 Ltd., KROHNE Messtechnik GmbH, Raychem RPG Pvt. Ltd., Schlumberger Ltd., SEIL ENTERPRISE Co., Shanghai Cixi Instrument Co. Ltd., TechnipFMC Plc, and Weatherford International Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The increasing importance of fiscal metering has been instrumental in driving the growth of the market. However, uncertainties associated with low crude oil prices might hamper market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts
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Transmission and Distribution (T&D) Equipment Market by Type and Geography - Forecast and Analysis 2020-2024: The transmission and distribution (T&D) equipment market size has the potential to grow by USD 44.17 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Industrial Valves Market in Oil and Gas Industry Market by Product and Geography - Forecast and Analysis 2020-2024: The industrial valves market size in oil and gas industry has the potential to grow by USD 4.20 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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Wetgas Meters Market 2020-2024: Segmentation
Wetgas Meters Market is segmented as below:
Wetgas Meters Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The wetgas meters market report covers the following areas:
This study identifies the rise in demand for renewable energy as one of the prime reasons driving the Wetgas Meters Market growth during the next few years.
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Wetgas Meters Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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LONDON--(BUSINESS WIRE)--#containershippingmarket--The Container Shipping market will register an incremental spend of about $ 36 billion, growing at a CAGR of 3.53% during the five-year forecast period. A targeted strategic approach to Container Shipping sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Download free sample pages
Key benefits to buy this report:
Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Container Shipping market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Insights into buyer strategies and tactical negotiation levers:
Several strategic and tactical negotiation levers are explained in the report to help buyers achieve the best prices for Container Shipping market. The report also aids buyers with relevant Container Shipping pricing levels, pros and cons of prevalent pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to fulfil their category objectives.
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Some of the top container shipping suppliers listed in this report:
This container shipping procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
This procurement report helps buyers identify and shortlist the most suitable suppliers for their container shipping requirements by answering the following questions:
Get access to regular sourcing and procurement insights to our digital procurement platform- Contact Us.
Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
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LONDON--(BUSINESS WIRE)--#GlobalSolarPVBacksheetMarket--The solar PV backsheet market is expected to grow by USD 2.06 billion, progressing at a CAGR of almost 15% during the forecast period.
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The increasing use of thin-film solar PV modules is one of the major factors propelling the market growth. However, the backsheet-associated PV module failures will hamper growth.
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Solar PV Backsheet Market: Product Landscape
Based on the product, the fluoropolymer segment led the market in 2019. The growth of the segment can be attributed to the superior performance of fluoropolymer products such as low module power loss, less degradation, and the ability to withstand harsh climatic conditions and environmental stresses. The growth of the market in the segment will be significant over the forecast period.
Solar PV Backsheet Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 69% of the market’s overall growth is expected to originate from APAC. Factors such as the adoption and implementation of microgrids, the declining cost of solar power generation, and a shift in focus toward renewables are fostering the growth of the solar PV backsheet market in APAC.
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Companies Covered:
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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LONDON--(BUSINESS WIRE)--#industrytrends--Economic factors, social impact, and various other situations can severely affect the oil and gas industry and cause major challenges for industry players. To prepare for these changes, industry players must stay updated on current and upcoming oil and gas industry trends and strategize for them accordingly. What are the current oil and gas industry trends, and how can industry players prepare for the same? Infiniti’s experts analyzed the industry and identified four relevant oil and gas industry trends, including the rising need for automation and increased dependency on digital resources. To efficiently strategize for these trends, CIOs in the oil and gas industry must utilize data-driven insights provided by Infiniti’s industry experts and gain a comprehensive understanding of their market. To prepare for upcoming oil and beverage industry trends, and gain an unparalleled strategic advantage, request a free proposal.
The oil and gas industry is susceptible to vast amounts of change and has witnessed various fluctuations in recent years. Constant changes in prices, challenges regarding fossil fuels, and international disputes regarding oil and gas trades are some of the current hurdles witnessed by industry players. These fluctuations have also incited high levels of competition. To stay ahead of the curve, companies need to understand the factors affecting the market and develop strategies to efficiently adapt to upcoming changes. CIOs play a crucial role in strategizing, decision-making for oil and gas industry players and taking advantage of their influence to maintain a strategic edge in this industry. Understanding significant oil and gas industry trends can help CIOs and industry players stay a step ahead of the competition and overcome challenges caused by sudden fluctuations in the market. Therefore, in their recent article, Infiniti’s experts analyzed relevant and upcoming oil and gas industry trends and provided insights to help CIOs strategize comprehensively and efficiently.
Learn how CIOs can transform the industry and propel your organization towards growth and market dominance by reading the complete article.
“CIOs who understand the significant oil and gas industry trends can take advantage of them to enable breakout performance that will differentiate them and their organizations in the years ahead,” says an oil and gas industry expert at Infiniti Research.
Infiniti’s industry experts discussed the following four significant oil and gas industry trends and highlighted the best strategies for CIOs to prepare for the same:
Learn how Infiniti Research helps companies prepare and strategize for relevant oil and gas industry trends, request more information.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
Press Contact
Infiniti Research
Anirban Choudhury
Marketing Manager
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https://www.infinitiresearch.com/contact-us
Company Increases Hedging Position for 2021
MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) announced today it initiated drilling operations on its first new horizontal well in ten months. The Badger 709 B #6XH was spud early Wednesday morning, December 2, 2020, on Ring’s Northwest Shelf (“NWS”) leasehold in Yoakum County, Texas. The well will be a one-and-a-half-mile horizontal San Andres oil well drilled to a vertical depth of approximately 5,000’.
Additionally, Ring Energy, Inc. entered into swap derivative contracts for 2,000 Bopd for calendar year 2021 at a price of $45.37/BO, and two 500 Bopd swaps for calendar year 2021 at a price of $45.38/BO and $45.00/BO, respectively. This brings Ring’s total calendar year 2021 oil hedge position to 7,500 Bopd (see hedge table below).
| Effective | Volume | Floor | Ceiling | |||||||||||
| Commodity | Date | End Date | (Bbl/d) | Structure | Swap Price | Price | Price | |||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
1,000 |
Costless Collar |
- |
$45.00 |
$52.71 |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
1,000 |
Costless Collar |
- |
$45.00 |
$55.08 |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
1,000 |
Costless Collar |
- |
$40.00 |
$55.08 |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
1,500 |
Costless Collar |
- |
$40.00 |
$55.35 |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
2,000 |
Swap |
$45.37 |
- |
- |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
500 |
Swap |
$45.38 |
- |
- |
|||||||
WTI - Crude |
1/1/2021 |
12/31/2021 |
500 |
Swap |
$45.00 |
- |
- |
|||||||
|
|
|
(MMBtu/d) |
|
|
|
|
|||||||
HH-Nat Gas |
1/1/2021 |
12/31/2021 |
6,000 |
Swap |
$2.991 |
- |
- |
|||||||
HH-Nat Gas |
1/1/2022 |
12/31/2022 |
5,000 |
Swap |
$2.726 |
- |
- |
Paul D. McKinney, Chief Executive Officer and Chairman of the Board, commented, “We are excited to end the year drilling on our NWS properties where we can generate exceptional rates-of-return greater than 90% at prevailing oil and natural gas prices. After drilling the Badger #6XH, the drilling rig will move to another horizontal San Andres location currently under construction with plans to drill another well after the New Year. These wells will be paid for out of cash surplus currently on hand.” Mr. McKinney continued by commenting, “We have added more to our hedge position for 2021. It is important during volatile markets like these to protect our future cash flows and strengthen our balance sheet. We intend to allocate the majority of our future cash flow to paying down debt with the remainder being invested in capital projects that maintain or improve our daily production and create additional liquidity.”
Mr. McKinney further added, “Our Bank Borrowing Base Redetermination continues on schedule and we anticipate the results before the Christmas holidays.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development and production company with current operations in Texas and New Mexico. www.ringenergy.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2019, its Form 10Q for the quarter ended September 30, 2020 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.
David Fowler, President
Ring Energy, Inc.
(432) 682-7464
Bill Parsons
K M Financial, Inc.
(702) 489-4447
DUBLIN--(BUSINESS WIRE)--The "Norway Offshore Oil & Gas Decommissioning Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Norway offshore oil & gas decommissioning market is expected to grow at a CAGR of more than 1.5% over the forecast period.
When oil and gas fields end production, their facilities need to be removed and disposed off or recycled, a process is known as decommissioning. Decommissioning of offshore structures is a highly complex and technical exercise that poses significant health and safety challenges. The process encompasses the planning, approval, implementation, removal, and disposal or re-use of an offshore structure. Factors such as maturing oil & gas fields, low oil prices, and aging infrastructure are driving Norway offshore oil & gas decommissioning market. However, volatile oil prices are likely to restrain the growth of the market during the forecast period.
Topsides segment is expected to dominate in the Norway offshore oil & gas decommissioning market during the forecast period. Innovative technology for landscape reversal and an increasing amount of investments in the oil & gas industry is expected to provide opportunities in the target market in the future. Increasing offshore oil & gas production activities and aging infrastructure is expected to drive the Norway offshore decommissioning market over the forecast period.
Key Market Trends
Topsides Segment is Expected to Dominate the Market
Offshore decommissioning refers to ending oil & gas operations on offshore platforms and restoring marine life and seafloor to its pre-production conditions.
Increasing Offshore Oil and Gas Activities and Aging Infrastructure to Drive the Market
The North Sea is endowed with a thriving oil and gas industry which has benefited the surrounding nations and their economies for many years and will for many more to come. Norway covers around 20% of North Sea fields.
Competitive Landscape
The Norway offshore oil & gas decommissioning market is consolidated. Some of the major players in the market include AF Gruppen ASA, Aker Solutions ASA, Equinor Energy AS, DNV GL, and Spirit Energy Limited.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Service
5.1.1 Well Plugging & Abandonment
5.1.2 Platform Removal
5.1.3 Others
5.2 Depth
5.2.1 Shallow
5.2.2 Deepwater and Ultra-Deepwater
5.3 Structure
5.3.1 Topsides
5.3.2 Substructure
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 AF Gruppen ASA
6.3.2 Aker Solutions ASA
6.3.3 Equinor Energy AS
6.3.4 Spirit Energy Limited
6.3.5 DNV GL
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hba37m
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ORANGE, Conn.--(BUSINESS WIRE)--Today AVANGRID, Inc. (NYSE:AGR) announced that on December 1, 2020 its Board of Directors declared a quarterly dividend of $0.44 per share on its Common Stock. This dividend is payable January 4, 2021 to shareholders of record at the close of business on December 11, 2020.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.
Investor Contact:
Patricia Cosgel
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203.499.2624
LONDON--(BUSINESS WIRE)--#GlobalSandControlSystemsMarket--The global sand control systems market size is poised to grow by USD 418.62 million during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
One of the primary factors that is driving the growth of the Sand Control Systems Market is the growth in oil rig count. The global rig count is rising with a gradual increase in onshore and offshore projects. With the stabilization in crude oil prices and growing rig count, the exploration and drilling projects that were put on hold, are likely to resume. This will eventually result in the growth of this market.
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Changing business models of upstream oil and gas companies will be a Key Market Trend
With the gradual stabilization in the oil and gas prices, the oil and gas majors are willing to resume exploration and production activities that were reduced during the slump years. This will result in the changing of business modules to increase production and the development of new business models will help sustain during the crude oil volatility phase. These approaches will help in the growth of the sand control systems market during the forecast period.
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Sand Control Systems Market 2020-2024: Key Highlights
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it will participate in the Capital One Securities 15th Annual Energy Conference, which will be held virtually, on Monday, December 7, 2020.
Any investor presentation provided during the conference will be publicly available and may be accessed on the “For the Investor” page of Helix’s website, www.HelixESG.com.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.HelixESG.com.
Erik Staffeldt
Executive Vice President & CFO
281-618-0465
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LONDON--(BUSINESS WIRE)--#BatterySeparatorMarket--The global battery separator market size is expected to grow by USD 2.74 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 13%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Battery Separator Market Analysis Report by Type (Lithium-ion battery, Lead-acid battery, and Others) and Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/battery-separator-market-size-industry-analysis
The market is driven by the shift in the automotive industry to EVs. In addition, the declining costs of battery storage systems is anticipated to boost the growth of the Battery Separator Market.
The rising environmental concerns and increased GHG emissions have compelled several countries to rethink the use of fossil fuels in the transportation sector. Electric vehicles (EVs) are the only possible replacement for fossil-powered vehicles. Thus, several countries are introducing directives to moderate the shift in the automotive industry from diesel and petrol vehicles to EVs. The increasing sales of EVs are driving the demand for batteries, which will significantly contribute to the growth of the battery separator market during the forecast period.
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Major Five Battery Separator Companies:
Asahi Kasei Corp.
Asahi Kasei Corp. has business operations under three segments, such as material, homes, and health care. The company offers lead acid battery separator under the brand, Daramic.
Dreamweaver International
Dreamweaver International offers battery separators, which deliver the lowest internal resistance for high rate cells, including super-capacitors. The company offers battery separators under the brands, Dreamweaver Titanium and Dreamweaver Gold.
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through various segments such as electronics and imaging, nutrition and bioscience, transportation and industrial, safety and construction, and non-core. The company offers nanofiber-based separators for lithium-ion batteries.
Freudenberg SE
Freudenberg SE has business operations under various segments such as seals and vibration control technology, technical textiles and filtration, cleaning technologies and products, and specialties. The company offers a wide range of ceramic impregnated battery separators for lithium ion batteries, supercapacitors and related energy storage devices.
Hokuetsu Corp.
Hokuetsu Corp. operates its business through two segments: paper and pulp; and packaging and paper processing. The company offers battery separators under the brand, AGM.
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Battery Separator Market Type Outlook (Revenue, USD bn, 2020-2024)
Battery Separator Market Regional Outlook (Revenue, USD bn, 2020-2024)
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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MINNEAPOLIS--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced that its Board of Directors today declared a regular quarterly cash dividend of 51 cents ($0.51) per share, payable on January 4, 2021, to shareholders of record on December 14, 2020.
C.H. Robinson has distributed regular dividends for more than twenty-five years. As of December 3, 2020, there were approximately 135,317,023 shares outstanding.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With nearly $20 billion in freight under management and 18 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 119,000 customers and 78,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
Source: C.H. Robinson
CHRW-IR
Chuck Ives, Director of Investor Relations
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LONDON--(BUSINESS WIRE)--#oilandgascompanies--Why are oil and gas industry players struggling with many operational risks, and what is the ideal sustainable solution? Various factors, such as fluctuating oil prices, changing policies regarding fossil fuels, international trade disputes, and market volatility, pose severe challenges for oil and gas companies. Infiniti’s operational risk analysis solution provides companies with comprehensive insights regarding potential risks, enables them to develop sustainable strategies, and provides them with long-term solutions for enhanced efficiency, reduce costs, and decreased operational risks. To leverage Infiniti’s operational risk analysis solution for data-driven insights into potential operational risks in the oil and gas industry and sustainable, unparalleled mitigation strategies, request a free proposal.
“Owing to the rising risks in the oil and gas industry, companies are finding it challenging to sustain a leading edge in today’s competitive marketplace. As such, identifying and mitigating major risks in the industry are becoming vital for oil and gas companies to stay ahead of the curve,” says an oil and gas industry expert at Infiniti Research.
Business Challenge:
The client is a European oil and gas company and witnessed a decline in profitability and a negative impact on their operational efficiency and production capacity. Factors such as the volatile raw material prices, supply-demand mismatch, and inability to expand reserves were causing these challenges. To address these obstacles, the oil and gas industry client sought to partner with Infiniti Research and leveraged our expertise in offering operational risk analysis. During the ten-week engagement, the client also wanted to tackle operational risks and reduce their impact and take initiatives to mitigate financial risk.
Our Approach:
Infiniti’s operational risk analysis experts developed a comprehensive approach to help the oil and gas industry client tackle these challenges. The process included the following:
Speak to industry experts to understand the impact of a comprehensive operational risk analysis solution and learn how it helps oil and gas companies address and overcome potential operational risks, reduce operating cost, and enhance efficiency.
Business Outcome:
With the insights gained from Infiniti’s operational risk analysis solution, the oil and gas company efficiently identified current and potential risks impacting their business and categorized them according to severity. Consequently, the client was able to develop and implement an efficient operational risk management strategy. Additionally, our operational risk analysis solution enabled the client to improve operational efficiency substantially, and in turn, realize over $2.7 million in savings in their operational cost.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, announced today it closed its securitization of leases and power purchase agreements on November 30, 2020.
“We are pleased to report the closing of our most successful asset backed securitization to date,“ said William J. (John) Berger, Chief Executive Officer of Sunnova. “Being able to deliver a securitization with the highest combined advance rate and lowest blended yield for a securitization in company history is a direct result of our proven track record, well-capitalized corporate balance sheet, strong recurring long-term contracted cashflows and focus on providing best-in-class customer service. This securitization further suggests a discount rate of PV4 on our Net Contracted Customer Value as it drives our all-in cost of capital even lower, further bolsters our cashflows and positions Sunnova to continue its exceptional growth into the new year and beyond.”
The two-tranche securitization includes $209.1 million in A- (sf) rated 2.73% notes at a 78.0% advance rate and $45.6 million in subordinated BB- (sf) rated 5.47% notes at a 17.0% advance rate. Advance rates are calculated relative to the securitization share of the aggregate discounted solar asset balance.
The notes are backed by a diverse portfolio of over 13,000 solar rooftop systems distributed across 19 states, Guam, Puerto Rico, and the Commonwealth of the Northern Mariana Islands. The weighted average customer FICO score of the related customers at the time of origination is 741. Sunnova used the proceeds from the sale of the notes for the repayment of one or more currently existing financing arrangements of Sunnova’s subsidiaries and intends to use the remaining proceeds for the payment of expenses related to the offering of the notes and for general corporate purposes.
Credit Suisse was the sole structuring agent and bookrunner for the securitization.
In addition, Sunnova announced today the closing of its underwritten public offering (the “equity offering”) of 7,000,000 shares of Sunnova’s common stock, par value $0.0001 per share (the “common stock”), which consists of 3,500,000 shares of common stock offered by Sunnova and 3,500,000 shares of common stock offered by a fund affiliated with Newlight Partners (the “Selling Stockholder”) at a price to the public of $37.00 per share. The equity offering included a 30-day option for the underwriters to purchase an additional 525,000 shares of common stock from each of Sunnova and the Selling Stockholder, which the underwriters exercised in connection with the closing of the equity offering.
The net proceeds from the sale of shares of the common stock in the equity offering, after deducting underwriting discounts and commissions and offering expenses payable by Sunnova, were approximately $142.6 million. Sunnova did not receive any proceeds from the sale of the shares by the Selling Stockholder in the equity offering. Sunnova intends to use the net proceeds from the equity offering to acquire solar equipment, for the repayment of indebtedness, including to redeem approximately $39.0 million aggregate principal amount of the 9.75% convertible senior notes due 2025 (the “convertible senior notes”), excluding accrued and unpaid interest, and for working capital purposes.
Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Credit Suisse acted as joint book-running managers of the equity offering. Baird, Roth Capital Partners, Simmons Energy | A Division of Piper Sandler, B. Riley Securities, JMP Securities, KeyBanc Capital Markets and Raymond James acted as co-managers.
ABOUT SUNNOVA
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. states and its territories. Sunnova's goal is to be the leading provider of clean, affordable and reliable energy for consumers, and it operates with a simple mission: to power energy independence so homeowners have the freedom to live life uninterrupted™.
For more information, visit www.sunnova.com, follow us on Twitter @Sunnova_Solar and connect with us on Facebook.
DISCLAIMERS
The Notes have not been and will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation of an offer or sale of any securities in any state in which such offer, solicitation or sale would be unlawful. This press release shall also not constitute a notice of redemption with respect to the convertible senior notes.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "going to," "could," "intend," "target," "project," "contemplates," "believe," "estimate," "predict," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding our future growth, asset performance, service levels, financial condition and cashflows, the solar securitization market, cost of debt, payment performance, ability to fully capitalize on the above market growth we are experiencing, and the use of proceeds from the equity offering, including any redemption of the convertible senior notes. Sunnova's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
INVESTOR & ANALYST CONTACT
Rodney McMahan
Sunnova Energy International Inc.
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(281) 971-3323
PRESS AND MEDIA CONTACT
Kelsey Hultberg
Sunnova Energy International Inc.
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