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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Global Healthcare Equipment Leasing Market: The healthcare equipment leasing market size has the potential to grow by USD 17.14 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get a FREE Sample Report in Minutes!
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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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REGINA, Saskatchewan--(BUSINESS WIRE)--Evraz North America has issued layoff notices to 500 members of the United Steelworkers (USW) at Evraz Steel’s Tubular Division in Regina.
The company’s layoff notice states that these workers are being laid off indefinitely, effective end of shift on Dec. 17, 2020. The notice follows previous layoffs in November.
“These new layoffs are coming during a very difficult time, as we are in the middle of a pandemic and Christmas is just a few weeks away. The impact on our members, their families and our community is going to be very tough,” said Mike Day, USW Local 5890 President.
“It’s been no secret that layoffs were coming, but we didn’t expect this many all at once, especially before the holidays,” added Day. “It is devastating. We were expecting a shorter list of layoffs, as we were told from the company that this would happen gradually with 50 or so layoffs per week, not all at once.”
Last year at this time there were close to 700 workers employed in the Tubular division. Currently, there are about 500 workers. With no new big orders on the books, the company is wrapping up orders and only 80 to 100 workers are expected to continue working into January.
The Canadian steel industry is facing decreased demand as the energy sector continues to struggle with infrastructure projects using cheaper steel obtained offshore.
“We have many federal and provincial projects being built across the country and our governments are not using Canadian-made material, resulting in the loss of good-paying Canadian jobs,” said Stephen Hunt, USW Western Canada Director.
“We can manufacture steel for pipelines here in Canada, including for upcoming projects for SaskEnergy and the TC Energy pipeline in northern Alberta, yet these contracts were awarded to foreign companies. If we don’t start buying Canadian-made steel we will witness the collapse of our steel industry. Our governments are failing to protect Canadian jobs by not having a Canadian-made procurement strategy for public infrastructure projects,” added Hunt.
Stand Up for Steel is the USW’s national campaign to inject stability into the steel sector that includes a made-in-Canada policy and a reformed trade policy that would, among other things, allow unions to launch trade complaints.
For more information on USW’s campaign to Stand Up for Steel, go to www.usw.ca/standupforsteel.
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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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Students from Illinois Tech and the University of Illinois Chicago are latest group of ComEd Scholars to receive financial support, mentoring and internship opportunities
CHICAGO--(BUSINESS WIRE)--To help local students attain their STEM education goals, while developing a workforce that is as diverse as the communities it serves, ComEd today announced it will again provide scholarships to northern Illinois students pursuing engineering degrees that fill the tuition gap not covered by financial aid. Eight new students make up the ComEd Scholars program’s newest class of recipients that attend the Illinois Institute of Technology (Illinois Tech) and the University of Illinois Chicago (UIC).
“ComEd lifts up the communities it serves and the first step in that process is helping young people further their education and pursue their dreams,” said Michelle Blaise, ComEd's senior vice president of technical services and an Illinois Tech mechanical engineering alumna. “This year in particular, students and their families face economic challenges. By supporting these students now, we hope they will gain the education necessary to develop the innovations that help local communities succeed in the future.”
Now in its second year, the ComEd Scholars program provides scholarships that fill education-related expenses not covered by financial aid, allowing students to pursue STEM degrees locally for the rest of their undergraduate careers. Additionally, ComEd Scholars are guaranteed an opportunity to interview for internships at ComEd and its parent company, Exelon, and are invited to participate in a mentorship program with ComEd engineers. ComEd has previously provided scholarships to four students through this program.
To qualify for the ComEd Scholars program, students are first recommended by their respective schools. Each school’s financial aid office then partners with academic advisors to identify high-performing students facing financial burdens to continue their education. Prospective recipients must then submit a personal statement, financial-aid application and school transcripts.
The 2020 ComEd Scholars are:
“ComEd’s unwavering leadership and support is a testament to their commitment to investing in the talented young minds that will shape the future of STEM,” said UIC CHANCE Director Kendal Parker.
“ComEd’s philanthropy provides funds that completely fill tuition gaps not covered by financial aid, plus a pathway to mentorship and internship opportunities,” said Ernie Iseminger, vice president for Advancement at Illinois Tech. “Our ComEd scholars are pursuing degrees in Engineering, have mentored for Illinois Tech’s Exelon Summer Institute for incoming students, and participate in student groups such as the Illinois Tech chapter of the Society of Automotive Engineers.”
“We thank ComEd for once again making an investment in our students at Illinois Tech,” said Illinois Tech President Alan W. Cramb. “Providing our students with access to a world-class STEM education is central to Illinois Tech’s mission and these scholarships will allow them to focus on their studies and post-graduate careers on building the technological innovations of tomorrow.”
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
Illinois Institute of Technology, also known as Illinois Tech, is a private, technology-focused research university. Illinois Tech is the only university of its kind in Chicago, and its Chicago location offers students access to the world-class resources of a great global metropolis. It offers undergraduate and graduate degrees in engineering, computing, architecture, business, design, science and human sciences, and law. One of 23 institutions that comprise the Association of Independent Technological Universities, Illinois Tech provides an exceptional education centered on active learning, and its graduates lead the state and much of the nation in economic prosperity. Illinois Tech uniquely prepares students to succeed in professions that require technological sophistication, an innovative mindset, and an entrepreneurial spirit. Visit iit.edu.
Located in the heart of one of the world’s great cities, the University of Illinois Chicago is the city’s largest university and only public research institution. Its 16 academic colleges serve more than 33,000 undergraduate, graduate and professional students. UIC is recognized as one of the most ethnically rich and culturally diverse campuses in the nation, a leader in providing access to underrepresented students. With one of the largest colleges of medicine in the nation, and colleges of dentistry, pharmacy, public health, nursing, social work, and applied health sciences, UIC is the state’s principal educator of health professionals and a major healthcare provider to underserved communities. UIC students become professionals in fields ranging from law and business to engineering to education, liberal arts and sciences, urban planning, and social work, as well as architecture, design and the arts. UIC is an integral part of the educational, technological, and cultural fabric of one of the world’s greatest cities. Visit uic.edu.
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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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LONDON--(BUSINESS WIRE)--#DistrictHeatingMarket--The district heating market is expected to grow by USD 32.81 billion, progressing at a CAGR of over 3% during the forecast period.
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The implementation of district heating in smart cities is one of the major factors propelling the market growth. However, factors such as competition from fuel-cell-based micro-CHP will hamper the market growth.
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District Heating Market: Technology Landscape
Based on technology, the fossil fuels segment generated maximum revenue for the market in 2019. This is due to the increased use of coal, natural gas, and oil for producing steam or water heating applications. The market growth in the segment will be significant over the forecast period.
District Heating Market: Geographic Landscape
By geography, Europe is going to have a lucrative growth during the forecast period. About 73% of the market’s overall growth is expected to originate from Europe. Factors such as the presence of extensive network installations and high demand for heating requirements from the end-users are fostering the market growth in Europe.
Poland, Germany, and Denmark are the key markets for district heating solutions in Europe. Market growth in this region will be slower than the growth of the market in North America.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
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)--#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.
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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)--#FatOilandGreaseSeparatorsMarket--The fat, oil, and grease separators market is expected to grow by USD 195.22 million, progressing at a CAGR of almost 5% during the forecast period.
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Growing applications of fat, oil, and grease separators across various industries is one of the major factors propelling the market growth. However, the high cost of purchase and maintenance will hamper growth.
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Fat, Oil, And Grease Separators Market: Type Landscape
Based on the type, the manual separators segment generated maximum revenue in 2019. Manual systems are available in a variety of sizes, ranging from 35 liters to few thousand liters. They are manufactured using concrete, stainless steel, enhanced polymers, and glass fiber plastics. These systems find increased use compared to automatic systems, owing to their low initial investment costs. All these factors are significantly contributing to the growth of the segment. The market growth in this segment will be significant during the forecast period.
Fat, Oil, And Grease Separators Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 33% of the market’s overall growth is expected to originate from APAC. Increasing incidences of sewer system blockage and the presence of stringent regulations are driving the demand for fat, oil, and grease separators in countries such as Japan and Australia. This is one of the key factors driving the growth of the fat, oil, and grease separators market in APAC.
China and Japan are the key markets for fat, oil, and grease separators in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
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)--#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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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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41% of the global population and 57% of the economy could be exposed to flooding by 2040 and over a third of today’s agricultural land will be under high water stress
LONDON--(BUSINESS WIRE)--Moody’s affiliate Four Twenty Seven today released a report analyzing the future exposure of the global population, the economy, and agriculture to a range of climate hazards, exploring both global trends and findings by country. Leveraging new analytics developed by Four Twenty Seven, the report assesses exposure to floods, heat stress, hurricanes and typhoons, rising sea levels, wildfires, and water stress and is based on the only known global dataset matching physical climate risk exposure to population location, GDP Purchasing Power Parity (PPP), and agricultural areas within countries.
“This novel dataset provides a detailed view of the exposure of key human and economic assets around the world. Understanding exposure is critical for investors and credit institutions to price climate risk, but also to help direct finance flows towards adaptation and resilience where they’re most needed,” says Emilie Mazzacurati, Global Head of Moody’s Climate Solutions in Moody’s ESG Solutions Group, and Four Twenty Seven’s Founder & CEO.
The findings of Measuring What Matters: A New Approach to Assessing Sovereign Climate Risk have significant implications for human health, food security and economic productivity.
Key findings include:
A full copy of the report can be found here.
The full sovereign dataset is available from Moody’s ESG Solutions on request.
ABOUT MOODY’S ESG SOLUTIONS
Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. It houses Four Twenty Seven, a leading publisher and provider of data, market intelligence and analysis related to physical climate and environmental risks. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody's Investors Service (MIS) and Moody's Analytics (MA) to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services.
For more information visit Moody’s ESG & Climate Risk hub.
MOODY’S ESG SOLUTIONS
Lisa Stanton
MD-Global Sales Lead/ESG
+1 415 874 6000
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MEDIA INQUIRIES
Julian Knapp
Moody’s ESG Communications
+44 207 772 1967
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Natalie Ambrosio Preudhomme
Four Twenty Seven
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moodys.com/esg
@MoodysESG
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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
~Greenlane to supply biogas upgrading system for new RNG project for injection into the local gas grid~
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #RNG--Greenlane Renewables Inc. (“Greenlane”) (TSXV:GRN / FSE:52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd., has signed a $10 million (US$7.7 million) contract for a new renewable natural gas (“RNG”) project in the United States owned by an international energy company. This project will utilize Greenlane’s membrane separation biogas upgrading system. The project owner and location have been withheld at this time. Order fulfilment by Greenlane will start immediately.
“Greenlane continues to gain traction with global energy companies as they seek to diversify their energy portfolios and introduce low carbon intensity fuel options to their customer base,” said Brad Douville, President & CEO of Greenlane. “To be selected for this exciting new project showcases again our unique ability to provide the best solution from our portfolio of multiple upgrading technologies. This is becoming increasingly important as our customers originate, develop and finance a wide range of projects within their respective portfolios each with unique requirements. This ability, combined with our decades of experience and proven track record, makes Greenlane the ideal partner to help all of our customers scale up rapidly.”
Greenlane’s sales pipeline, as announced with its Q3 financial results for the period ending September 30, 2020, and which feeds into the sales order backlog, was in excess of $690 million. The sales pipeline continues to expand and is reflective of the growing global focus on the low-carbon energy transition. The sales order backlog, which refers to unrecognized revenue from contracted projects, was $43.8 million at September 30, 2020, which represents an annual increase of over 350% compared to September 30, 2019.
While uncertainty remains with respect to the COVID-19 pandemic and its ongoing impact on global economies, the Company believes that the energy transition is here to stay. Furthermore, the Company believes that RNG will play a meaningful and growing part in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonized future, in which Greenlane will play an important role.
International energy companies are rapidly moving to adopt decarbonization strategies and increase renewable and low carbon energy sources within their respective portfolios, including RNG. Earlier in 2020, several leading international energy companies announced their respective net zero carbon ambitions by 2050, and subsequently announced specific actions to advance their respective plans such as RNG offtake and project financing.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 110 biogas upgrading systems supplied into 18 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.com.
FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained in this press release, includes, but is not limited to, Greenlane supplying a membrane separation biogas upgrading system for the RNG project in the US for a leading global energy company; the RNG industry will scale rapidly and Greenlane will be a preferred supplier to the RNG industry; utilizing Greenlane’s membrane separation technology for the RNG Project in the US; order fulfilment starting immediately; and RNG will play an important role in global decarbonization and companies’ decarbonization strategies. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, the risks that Greenlane will not be able to supply to the RNG project the biogas upgrading systems as contemplated; Greenlane is not the preferred supplier to the RNG industry; the biogas upgrading system does not perform as expected;the project may not be a success or as expected; order fulfilment may not occur as contemplated or at all; and RNG will not have the impact on global decarbonization or companies’ decarbonization strategies as contemplated or at all. Additional risk factors can also be found in the Company's annual information form, which has been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Incite Capital Markets
Eric Negraeff / Darren Seed
604.493.2004
Brad Douville, President & CEO, Greenlane Renewables
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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
DUBLIN--(BUSINESS WIRE)--The "Australia Oil and Gas Midstream Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for the Australian oil and gas midstream is expected to register a CAGR of more than 2.4% during the forecast period of 2020-2025.
Factors, such as increasing investment in the sector and increasing production and consumption of oil and gas, are expected to boost the demand for the Australian oil and gas midstream market during the forecast period. However, the low price of natural gas coupled with the high volatility of crude oil prices is making the industry unprofitable and thereby impeding the growth of the market.
Australia has an extensive pipeline network all over the country. The gas pipeline capacity in the country dominates the landscape relative to the oil pipelines. New pipelines are in the proposal stage and are expected to be completed during the forecast period.
Exploration and production of oil and gas fields in the region are expected to become an opportunity for the companies working in the oil and gas midstream industry as more pipeline and storage infrastructure may be required in the near future.
A significant increase in the production of gas is expected to be the most prominent driver of the market. Investment in the sector and increase in production of oil and gas is also likely to contribute to the rise in the growth of the industry.
Key Market Trends
Pipeline Sector to Witness Growth
In 2019, the Queensland Hunter Gas Pipeline was a proposed natural gas pipeline. The proposed pipeline would run from the Wallumbilla gas hub in Queensland to Newcastle, New South Wales. The pipeline is expected to have a length of, approximately, 825 kilometers (513 Miles) and a capacity of 416.1 million cubic feet per day.
Increase in Production of Natural Gas to Drive the Market
Production of natural gas increased in the country, by 15.3%, year on year, from 97.0, million metric ton oil equivalent in 2017 to 111.9 million metric ton oil equivalent, in 2018. Consumption of gas in Australia increased by 0.4%, from 35.5 Million tonnes oil equivalent (mtoe), in 2017 to 35.6 mtoe, in 2018. The increase in production is expected to boost the growth in the pipeline infrastructure.
Competitive Landscape
The Australian oil and gas midstream market is partially fragmented. The major companies include APA Group, SGSP (Australia) Assets Pty Ltd (SGSPAA), Exxon Mobil Corporation, Royal Dutch Shell PLC, and Chevron Corporation.
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 million, until 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraint
4.6 Supply Chain Analysis
4.7 PESTLE ANALYSIS
5 MARKET SEGMENTATION
5.1 Sector
5.1.1 Transportation
5.1.1.1 Overview
5.1.1.1.1 Existing Infrastructure
5.1.1.1.2 Projects in Pipeline
5.1.1.1.3 Upcoming Projects
5.1.2 Storage
5.1.2.1 Overview
5.1.2.1.1 Existing Infrastructure
5.1.2.1.2 Projects in Pipeline
5.1.2.1.3 Upcoming Projects
5.1.3 LNG Terminals
5.1.3.1 Overview
5.1.3.1.1 Existing Infrastructure
5.1.3.1.2 Projects in Pipeline
5.1.3.1.3 Upcoming Projects
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 APA Group
6.3.2 SGSP (Australia) Assets Pty Ltd (SGSPAA)
6.3.3 Exxon Mobil Corporation
6.3.4 Royal Dutch Shell PLC
6.3.5 Chevron Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/18hjqd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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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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With faster speeds, improved security, and the ability to connect more end devices, Wi-Fi 6 can support the Industrial Internet of Things in a variety of environments
BOULDER, Colo.--(BUSINESS WIRE)--#IIoT--A new report from Guidehouse Insights examines the Industrial Internet of Things (IIoT) and how Wi-Fi 6 technology could be used in industrial environments.
Wi-Fi has long been pervasive in residential and enterprise settings as an affordable broadband wireless network capable of supporting a multitude of users with Internet connectivity and low-cost communications. Until now, however, Wi-Fi has not had the capacity, latency, reliability, or security necessary for many machine-to-machine applications in industrial environments. With the advent of Wi-Fi 6, that is changing. Click to tweet: According to a new report from @WeAreGHInsights, global investment in Wi-Fi 6 infrastructure in the industrial segments for factory, warehouse, transport, power plant, network operating center, mine, refinery, and oil well sites is expected to grow from $1.7 billion in 2021 to $6.9 billion in 2030 at a compound annual growth rate of 16.8%.
“The latest generation of Wi-Fi protocols, formerly known as 802.11ax but more simply called Wi-Fi 6, has a variety of technical upgrades supporting faster download and upload speeds, longer battery life, the ability to connect many more end devices, and improved security,” says Richelle Elberg, principal research analyst with Guidehouse Insights. “As such, it has the potential to support the IIoT in a variety of harsh environments where Wi-Fi has historically been considered unsuitable.”
North America and Europe, which have higher square footage and numbers of sites in many of the industrial segments as well as greater investment in IIoT technologies more broadly, are expected to lead the market, particularly in the early years of the forecast. Notably, lower labor and equipment costs in Asia Pacific are expected to depress major investments in that region relative to North America and Europe in the early years of the forecast. Asia Pacific and Latin America are expected to show the highest growth rates.
The report, Wi-Fi 6 and the IIoT, provides an overview of the IIoT and how Wi-Fi 6 technology may be used in industrial environments. It covers legacy and emerging use cases for connectivity in factories, warehouses, network operating centers (NOCs), power plants, refineries, oil & gas well pads, and mines. It describes the technical upgrades made in the latest Wi-Fi networking protocol and how it can affordably support digitalization in industrial settings. An overview of Wi-Fi 6 service and infrastructure providers is included, and market forecasts for industrial investment in Wi-Fi 6 networking infrastructure is provided by industrial segment and by global region through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Wi-Fi 6 and the IIoT, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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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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DUBLIN--(BUSINESS WIRE)--The "Norway Oil and Gas Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Norwegian oil and gas market is expected to register a CAGR more significant than 7.5%
Factors, such as huge investment and government policies, are likely to drive the oil and gas market in Norway, during the forecast period. Oil companies increased their spending for the first time in 2018, since 2014. This is expected to propel the Norwegian oil and gas market. However, the Government of Norway is expected to divest investments from the oil and gas sector and increase the investments in alternative energy, which may hinder the growth of Norway's oil and gas market during the forecast period.
The oil and gas upstream sector is expected to dominate the Norwegian oil and gas market, owing to discoveries in the North Sea.
The increasing demand for LNG in the country leads to the integration of smart technologies in the existing LNG infrastructure, which may create an ample amount of opportunities for the market in the coming years.
Lower breakeven prices are expected to drive the Norwegian oil and gas market, mainly achieved by project re-engineering, efficiency gains, better expense management, and drop in oilfield services cost, due to lack in demand for services.
Key Market Trends
Upstream Sector to Dominate the Market
The upstream oil and gas investment in Norway has witnessed significant changes since 2014. Though oil production increased during 2014-2016, the operating cost declined during the same period.
Lower Breakeven Prices are Expected to Drive the Market
The oil and gas industry, especially the upstream sector, is dependent on the price of crude oil. Prior to 2014, one of the major problems faced by the Norwegian petroleum industry was the high breakeven prices.
Competitive Landscape
The Norwegian oil and gas market is moderately fragmented due to many companies operating in the industry. The key players in this market include Equinor ASA, Aker BP ASA, Total SA, Royal Dutch Shell PLC, and Exxon Mobil Corporation.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Oil and Gas Proven Reserves in Norway
4.3 Crude Oil and Natural Gas Production and Consumption Forecast in thousand barrels per day, until 2025
4.4 Refining Capacity and Forecast, until 2025
4.5 Refined Product Consumption Forecast, until 2025
4.6 LNG and Pipeline Export Capacity Forecast, until 2025
4.7 Average Onshore and Offshore Rigs, until 2019
4.8 Total Wells Drilled in Norway, by Type, 2018
4.9 List of Oil Fields in Norway, 2018
4.10 List of Gas Fields in Norway, 2018
4.11 Total Exploration Wells Drilled in Norway, 2018
4.12 Total Development Wells Drilled in Norway, 2018
4.13 Oil Production Market Share for Major Companies, 2018
4.14 Gas Production Market Share for Major Companies, 2018
4.15 Oil and Gas Industry Investment Trend
4.16 Recent Trends and Developments
4.17 Government Policies and Regulations
4.18 Market Dynamics
4.18.1 Drivers
4.18.2 Restraints
4.19 Supply-Chain Analysis
4.20 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Upstream
5.1.1 Onshore Exploration and Production Scenario
5.1.2 Offshore Exploration and Production Scenario
5.1.3 Petroleum Liquids Production in million bbl, until 2018
5.1.4 Annual Exploration Well Activity, until 2018
5.1.5 List of Key Projects
5.1.5.1 Existing Projects
5.1.5.2 Upcoming and Planned Projects
5.2 Midstream
5.2.1 Transportation Scenario
5.2.2 LNG Terminals, Processing Stations, and Storage
5.2.3 LNG Export and Import Statistics, until 2018
5.2.4 List of Key projects
5.2.4.1 Existing Projects
5.2.4.2 Upcoming and Planned Projects
5.3 Downstream
5.3.1 Refinery Sector Scenario
5.3.2 Norway Refinery Throughput Capacity in thousand barrels per day, until 2018
5.3.3 Petrochemical Plants
5.3.4 List of Key projects
5.3.4.1 Existing Projects
5.3.4.2 Upcoming and Planned Projects
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 Equinor ASA
6.3.2 Aker BP ASA
6.3.3 Total SA
6.3.4 Royal Dutch Shell PLC
6.3.5 Exxon Mobil Corporation
6.3.6 DNO Norge AS
6.3.7 Petoro AS
6.3.8 Baker Hughes Company
6.3.9 Schlumberger Limited
6.3.10 Chevron Corporation
6.3.11 Vr Energi AS
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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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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DUBLIN--(BUSINESS WIRE)--The "Nigeria Oil & Gas Downstream Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Nigerian oil refining capacity has increased by 63% between 2010 and 2018. The Nigerian oil & gas downstream sector is driven by the development of large and modular refineries. However, the market is restrained by poor maintenance and supply disruption resulting in a low utilization rate.
The increasing refining capacity is expected to drive the demand in the market during the forecast period. Digitalization and modernization of the refining and petrochemical sector are expected to reduce the refining costs and process losses. This, in turn, is expected to create an opportunity for the market during the forecast period. Improving the existing downstream infrastructure and encouraging private sector investment for the refineries and petrochemical plants in is expected to drive the studied market during the forecast period.
Key Market Trends
Refinery Segment Dominate the Market
Nigeria is the second biggest oil-rich country in Africa, after Libya. The country is estimated to hold 37 billion barrels of proven oil reserves. However, despite its rich resources, at present Nigeria's state-dominated oil industry is declining, afflicted by systemic corruption, starved for international investment, and hit hard by weak oil prices. Despite that malaise, oil remains the country's chief source of income.
Improving the Infrastructure and Encouraging Private Sector Investment to Drive the Market
Nigeria ranked as the 13th largest crude oil producer in the world with an average daily output of about 2 million barrels per day. Such high production country should have proper downstream infrastructure.
Competitive Landscape
The market for Nigeria oil & gas downstream remains concentrated. Some of the key players are Nigerian National Petroleum Corporation (NNPC), KBR Inc., NDEP plc, Indorama Group, and Midoil Refining & Petrochemicals Company Limited.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Refining Capacity and Forecast, in million ton, till 2025
4.3 Key Projects Information
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 PESTLE Analysis
5 COMPETITIVE LANDSCAPE
5.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 Nigeria National Petroleum Corporation
5.3.2 Niger Delta Exploration & Production Plc
5.3.3 KBR Inc.
5.3.4 Indorama Group
5.3.5 Midoil Refining & Petrochemicals Company Limited
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/2ttxmk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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