ReNew IPO a Clear Indicator of India’s Growing Renewables Sector

first_img FacebookTwitterLinkedInEmailPrint分享Quartz:The first initial public offering (IPO) in India from the booming renewable energy sector is here.ReNew Power, India’s largest renewable energy producer, is looking to raise Rs2,600 crore ($390 million) through its first public share sale. The move comes just a month after ReNew sealed India’s biggest renewable energy deal when it acquired New Delhi-based Ostro Energy for around $1.5 billion.The company intends to utilize the funds from the share sale to acquire companies and repay loans of certain subsidiaries, among other things. The IPO will comprise a fresh issue of shares worth Rs 2,600 crore, while existing shareholders, including Global Environment Fund, Green Rock Energy and GS Wyvern Holdings, an investment arm of Goldman Sachs, will sell some of their equity.Founded by Sumant Sinha, a former Wall Street banker, ReNew currently has an installed capacity of over 5,800 megawatts (MW) across wind and solar power plants. The seven-year-old company is backed by Goldmans Sachs, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board, among other investors, and is valued at around $2 billion.While New Delhi-based solar power producer Azure Power went public in 2016 and listed on the New York Stock Exchange, ReNew’s will be the first public issue by a homegrown clean energy company on the Indian bourses.The success or failure of ReNew Power’s IPO will also be a benchmark for the rest of the sector. “(The) renewables sector has reached an inflection point now,” said Amit Kumar, a partner at consulting firm PwC, who focuses on the clean energy sector. A successful IPO from ReNew could give other Indian renewable energy players the confidence to raise funds from the Indian market, Kumar added.More: India’s Largest Renewable Power Company Is Set To Go Public ReNew IPO a Clear Indicator of India’s Growing Renewables Sectorlast_img read more

Climate risk prompts judge to halt oil and gas drilling projects in Wyoming

first_imgClimate risk prompts judge to halt oil and gas drilling projects in Wyoming FacebookTwitterLinkedInEmailPrint分享The Guardian:In the first significant check on the Trump administration’s “energy-first” agenda, a US judge has temporarily halted hundreds of drilling projects for failing to take climate change into account.Drilling had been stalled on more than 300,000 acres of public land in Wyoming after it was ruled the Trump administration violated environmental laws by failing to consider greenhouse gas emissions. The federal judge has ordered the Bureau of Land Management (BLM), which manages US public lands and issues leases to the energy industry, to redo its analysis.The decision stems from an environmental lawsuit. WildEarth Guardians, Physicians for Social Responsibility, and the Western Environmental Law Center sued the BLM in 2016 for failing to calculate and limit the amount of greenhouse gas emissions from future oil and gas projects.The agency “did not adequately quantify the climate change impacts of oil and gas leasing”, said Rudolph Contreras, a US district judge in Washington DC, in a ruling late on Tuesday. He added that the agency “must consider the cumulative impact of GHG [greenhouse gas] emissions” generated by past, present and future BLM leases across the country.The decision is the first significant check on the climate impact of the Trump administration’s “energy-first” agenda that has opened up vast swaths of public land for mining and drilling. Environmental advocates are praising the move, with Jeremy Nichols, WildEarth Guardians’ Climate and Energy Program director, calling it a “triumph for our climate”.“This ruling says that the entire oil & gas drilling program is off the rails, and moving forward illegally,” said Nichols.More: US judge halts hundreds of drilling projects in groundbreaking climate change rulinglast_img read more

Financial pressures mounting in U.S. shale sector

first_img FacebookTwitterLinkedInEmailPrint分享OilPrice.com:The recent downturn in oil prices forced a slowdown in the U.S. shale industry, and top executives appear to be gloomier than ever.According to a survey by the Dallas Federal Reserve, the business activity index in Texas fell to minus 0.6 in the second quarter, down from a positive reading of 10.8 in the first quarter. A negative reading means that business activity actually contracted from the prior quarter, offering evidence that the slide in oil prices led to a pullback in spending and drilling. While oil and gas production continued to rise in the second quarter, it did so at a slower pace than in months past. The Dallas Fed said that its spending index actually fell into negative territory, again, an indication of contraction.A slowdown in drilling is felt most acutely by oilfield services companies, who make their money from drilling volume and activity, rather than from oil sales. Not only did activity dip, but the prices that oilfield services charge for their services fell sharply, and margins were “notably lower” in the second quarter, the Dallas Fed said. Employment and wages also contracted. The Dallas Fed offers indices on “company outlook,” indices that further highlight the rising pessimism among most firms. The “aggregate uncertainty index” showed a surge of uncertainty from the sector, and it posted the highest reading since 2017.In short, conditions appeared to have deteriorated in the second quarter, even as the industry posted a “gusher of red ink” in the first.While the indices offer some quantitative data to back up the souring outlook for U.S. shale, the metrics are also a bit high-level and abstract. The real color comes in the comments section of the Dallas Fed survey, where comments are anonymously submitted by oil and gas executives. These statements offer better clues into what’s really going on at the ground level.For instance, one executive said that the oil price downturn in the second quarter has had a dramatic effect on industry conditions. The “biggest impact has been the rapid and accelerating lack of investor interest in both conventional and unconventional oil and gas. The securities of oil and gas companies now sell at a fraction of what they once commanded. Huge losses in these shares hamper new exploration. It looks like another round of bankruptcies and mergers,” the executive said.More: Shale executive sees “another round of bankruptcies” looming Financial pressures mounting in U.S. shale sectorlast_img read more

U.K. shale gas E&P shares fall after fracking moratorium

first_imgU.K. shale gas E&P shares fall after fracking moratorium FacebookTwitterLinkedInEmailPrint分享Reuters:Shares in British shale gas explorers fell on Monday morning after the government announced at the weekend that it is imposing a moratorium on fracking.On Saturday, the government said that the gas extraction technique risked causing too much disruption to local communities through earth tremors.Fracking, which involves extracting gas from rocks by breaking them up with water and chemicals at high pressure, is fiercely opposed by environmentalists who say it is at odds with Britain’s commitment to reach net zero carbon emissions by 2050.The government had previously signalled its support for the shale gas industry as it seeks ways to cut Britain’s reliance on imports of natural gas that is used to heat about 80% of Britain’s homes.IGas (IGAS.L) shares tumbled by as much as 20%, while shares in Egdon Resources (EGRE.L) fell by 14%.Leading shale gas explorer Cuadrilla is 47.4% owned by Australia’s AJ Lucas (AJL.AX) with a fund managed by Riverstone holding 45.2%. Shares in AJ Lucas were down 24%.“Cuadrilla will continue to work with the OGA (regulator) to provide the government with the confidence to lift the moratorium so the significant high-quality natural gas resources in the Bowland Basin can be commercialised,” said AJ Lucas Chairman Phil Arnall.IGas said it has a “significant recoverable gas resource” at in the Gainsborough Trough in eastern England.It estimates there is 630 billion cubic feet of gas in place per square mile. If applied to its entire acreage in the East Midlands, this would equate to 270 trillion cubic feet of high quality natural gas.More: UK shale gas explorers’ shares fall on fracking moratoriumlast_img read more

Greece awards contracts for 472MW of new wind power, including a new record-low bid

first_imgWind power prices continued to fall as Greece in its latest onshore auction awarded contracts for more than 472MW of projects with combined average levelised cost of energy of €55.67/MWh ($65.37/MWh).The tendering round included a winning bid by Greek developer Ascent Power of €53.86/MWh, which was a new record low for Greece, while the highest bid was at €57.70/MWh.A total of 25 projects with a combined 748MW in capacity entered the oversubscribed tender, showing a higher level of competition than in previous tenders, European wind energy body WindEurope noted in a statement.Greece at the end of June had an onshore wind capacity of 3.9GW, meeting 14% of the Southern European country’s electricity needs during the first half of 2020.According to its National Energy and Climate Plan (NECP) submitted to the EU, Greece aims to increase its wind energy capacity to more than 7GW and to reach a 35% share of renewables in final energy consumption by 2030.[Bernd Radowitz]More: Greece reaches record low price in ‘highly competitive’ onshore wind power tender Greece awards contracts for 472MW of new wind power, including a new record-low bid FacebookTwitterLinkedInEmailPrint分享Recharge:last_img read more

U.S. researchers see vast potential for floating solar generation at existing hydroelectric dams

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Installing floating solar power plants on the reservoirs of existing hydroelectric dams represents an enormous untapped opportunity with a global technical potential of 3,039 GW to 7,593 GW, researchers at the U.S. Department of Energy’s National Renewable Energy Laboratory and the Colorado School of Mines estimated in a recent study.The up-to-10,600 TWh of potential annual generation at solar farms floating on hydro reservoirs is equal to nearly half of the world’s total electricity use in 2018, the National Renewable Energy Laboratory, or NREL, said in a Sept. 29 overview of the findings, which will be published in the December issue of the journal Renewable Energy.“This does not represent what could be economically feasible or what the markets could actually support,” NREL researcher Nathan Lee, the report’s lead author, said in a statement. “Rather, it is an upper-bound estimate of feasible resources that considers waterbody constraints and generation system performance.”North America possesses, by far, the largest technical potential for floating photovoltaic arrays at hydropower reservoirs, accounting for 1,785 GW of the report’s median global estimate of 5,333 GW. Potential benefits of such floating hybrid power plants include avoiding land conflicts, relying on a common substation to reduce infrastructure costs, reducing evaporation from reservoirs and storing excess midday solar production with pumped hydro storage.Floating solar-hydropower hybrids “could play an important role in achieving the ambitious renewable energy targets put forth by many countries,” the researchers said, pointing to the need for more detailed assessments targeted at specific countries or regions.The biggest floating solar markets today are in Asia, where a 150-MW project is operating in China and a 2,100-MW facility is planned in South Korea. In Europe, project development is picking up in areas with land constraints, such as in the Netherlands, where Vattenfall AB completed a 1.2-MW system in late September. The country also hosts a 27.4-MW floating array, Europe’s largest floating solar project, which was completed in March. Akuo Energy developed a 17-MW system at a former quarry site in France, while Lightsource BP Renewable Energy Investments Ltd. built a 6.3-MW solar project on a reservoir connected to London’s water network.[Garrett Hering]More ($): Researchers see untapped potential for floating solar on hydropower reservoirs U.S. researchers see vast potential for floating solar generation at existing hydroelectric damslast_img read more

Adult Recess

first_imgRecess is a hot topic among our elected officials. Virginia’s Governor Bob McDonnell recently vetoed a bill that would have mandated daily physical activity for kids in Virginia schools. Meanwhile, the state of Colorado passed a bill that requires 30 minutes of activity a day for each child.While our representatives debate the merits of recess in school, adults are increasingly becoming sold on the idea in the workplace. More companies are beginning to enforce mandatory playtime during the work day.“A couple of 10-minute recess breaks a day and a standing desk can have huge health benefits,” says Allison Kleinfelter, a health and nutrition consultant working with Hershey Company in Pennsylvania to help build physical activity into the work day. “Employees typically won’t take it upon themselves to take an activity break. But if the organization sets that time aside for activity, employees love it. And there’s plenty of evidence that shows those breaks increase productivity.”Keen Footwear has caught the recess bug, implementing 15-minute activity breaks into its work day, and creating a “recess center” with Frisbees, yoga mats, and bikes.“We’ve created an open door policy where we encourage everyone to get outside for a 15-minute break,” says Kate Lee, Keen’s director of human resources. The company helped install adult-friendly tire swings in downtown Minneapolis, and it has even started a nationwide campaign to get other companies involved.Adult recess is a key component to the new National Physical Activity Plan, a movement to fight obesity led by a variety of health organizations including the Center for Disease Control and American Heart Association. Currently, 75 percent of Americans don’t meet the plan’s goal of 150 minutes of activity each week.“We’ve engineered exercise out of our lives, particularly in the work place,” says Kleinfelter, who also serves as a consultant for the National Physical Activity Plan. “Instead of seeing exercise as something separate that you have to change your clothes for and drive to a different location to participate in, we’re trying to make it part of the work day.” The 10-Minute Recess Activity                    Calories BurnedStretching………………..28Walking…………………..23Jump Rope………………..91Frisbee…………………….34Ping pong…………………45 Get Up, Stand Up How much of an impact can just standing at your desk make on your overall health? A 150-pound person burns 54 more calories per hour standing at a desk instead of sitting, which adds up to 400 calories burned each day. SUP Yoga Yoga has become the go-to cross training activity for many mountain athletes, but standup paddling (SUP) is quickly catching on as a low impact workout. What happens when you combine the two? You get an innovative workout in a beautiful setting. 1 2last_img read more

Patagonia Fitz Sneak: The one quiver shoe

first_imgIs it just me, or has the world become overly specialized? With more and more products flooding the market, and more and more people doing different stuff all the time, it seems like everything new is developed specifically for one special thing. Gone are the days of the one-quiver anything, now you have to have a different something for each endeavor. Powder skis, groomer skis, park skis, backcountry skis. Downhill bike, cross-country bike, park bike, commuter bike. Small stream trout rod, big river trout rod, smallmouth bass rod, largemouth bass rod. You get the picture, and that’s just the hard goods. When it comes to soft goods, the issue is even more dynamic with baselayers, mid layers, jackets, hats, pants, and of course shoes.Let me be upfront in saying that I am both a gear hound and a shoe hound. My closet is loaded with both from years of dedicated and deliberate accumulation, much of it specialized to the point of never getting used because as often as I would like, I never seem to use my ten-mile-and-above-wet-weather-hydration-compatible-high-altitude day pack or my low-light-late-season-snowing-but-not-too-hard-high-exertion ski goggle lenses. True, sometimes the situation calls for a specialized piece, but usually I just go with whatever gear I’ve used the most because most of the time confidence in what you are using trumps any advantages over-specialization brings to the table.This is why my go-to footwear over the past few weeks has been the Patagonia Fitz. At first glance the Fitz is just another sneaker – albeit made by one of the largest and diverse outdoor brands in the game today – but look a little harder and the Fitz is much more. This is a shoe for all occasions due to its construction and style. Allow me to elaborate.From a technical standpoint, the Fitz fits the bill for all types of active pursuits. First, it’s a lightweight shoe, has a breathable mesh lining, cushy insole and foot bed, and a grippy rubber sole for traction. All this adds up to a super comfortable sneaker equally adept at urban assaults or short day hikes. I would not hesitate to take this shoe out on the trail – in fact, I have done this – because the suede upper prevents the usual wear and tear from dirt, sticks, and the rocks I usually kick down the trail pretending to be a caveman version of Pele. Speaking of suede, that brings me to my next point: style.The Fitz is low profile, meaning they look great with shorts and allow pant or jean cuffs to drape over them with ease. The leather adds a touch of class to this shoe allowing you to sport them at the bar or the boardroom – with three subdued color options, they can almost pass as a type of dress shoe (this may be a stretch depending on what you consider a dress shoe, but they have leather so…). The stitching of the Fitz Roy silhouette, and Patagonia logo, is a unique feature I have not seen on a shoe before – this is no Swoosh.I tend to opt for some type of sneaker in the summer as oppose to flops just in case I need to break into a sprint at any given moment, plus I enjoy the support for my freestyle walking habit. The great thing about the Fitz is it satisfies my wife’s desire for me to not wear skate shoes – she finds them tacky, and I don’t skate so they also make me a poser – while satisfying my desire to be ready to chase a purse snatcher, climb a tree, race a bike, hop a fence, dunk, launch a staircase, send a gap, or otherwise display my athletic prowess at the drop of a hat.I can do all this while still keeping it cool and classy in the Fitz, and that’s all you can ask for in a shoe.last_img read more

The Human Shuttle

first_imgI spend a lot of time towing my kids around. Literally. I fashion a variety of sleds and actually tow my kids around through the forest, snow, water. It started when they were babies and the jogging stroller became my one and only workout. I got to run and my wife got an hour of sanity in the middle of the day. The babies cried, mostly. When they got older, I created a harness system and sled, so I could cross country ski them deep into the High Country during our too infrequent snow storms. During warmer months, it was the bike trailer. All of a sudden, taking a simple trip to the post office or the park became a workout thanks to the 75 pounds of children I was towing. It might look like an ideal picture of fatherhood, me toting my children into the woods or up a mountainous road (quality time!), but it’s totally selfish. I spend all day with my kids. The only way I’m going for a run, ride or ski is if I take my kids with me. I don’t want to stop doing awesome stuff, and I want my kids to enjoy the same awesome stuff, so my garage is full of various dad-powered, sled-like contraptions. They’re getting older and less content to sit idle while I toil under their extra weight, so the bike trailer is getting rusty from lack of use. They want to ride their own bikes now. The stroller is long gone (we maxed out the weight limit on that thing), donated to another family. And they’re rapidly becoming little rippers on the ski hill, so I don’t have to tow them around in the snow anymore. It’s as if they don’t need me at all anymore. Is this what empty nest syndrome feels like? Luckily, there’s the French Broad River. I’ve started tying a small raft to the back of my paddleboard and trudging upriver for as far as I can go, before setting them free to tube downriver under my helicopter-parent/watchful eye. It’s a brutal workout (the drag that an inflatable raft filled with 100 pounds of kid creates is significant) and the kids love being on the river. Maybe more important, I feel useful again. They need me, out there on the river. Both as a shuttle to move them upriver and as a guide as they float downstream.  And it’s a new way to look at this river for me. Usually, I’m towing a cooler full of beer, ambling downstream without expending much energy. I even developed a paddleboard-specific Koozie that hangs around my neck, so I can paddle and occasionally take a sip. But towing the kids upstream, the river is now a gym. It’s no longer a lazy class I float, it’s a formidable opponent. Something to conquer. I do miss the beer, though.last_img read more

Outdoor Updates: U.S. Triathlon Gold team moves to Asheville, NC

first_imgU.S. Triathlon Gold team moves to Asheville, NC Iguanas invade Florida—and homeowners are instructed to kill them The team is working in partnership with UNC Asheville and has access to the school’s Justice Center Pool and Karl Straus Track, as well as the pool at the Asheville Jewish Community Center. According to a news release, the athletes also spend much of their time training in and around Biltmore Lake. “The training facilities are first class, the natural resources are amazing and the community is great,” Evans said in a press release.  There are so many invasive green iguanas in Florida right now that the Florida Fish and Wildlife Conservation Commission is encouraging homeowners to humanely kill the reptile. Green iguanas are invasive to Florida and can cause major damage to infrastructure, including seawalls and sidewalks, the commission says. Homeowners do not need a permit to kill green iguanas, and they can also be killed year-round without a permit on 22 public lands in south Florida.center_img After considering 16 cities around the country, the U.S Triathlon Gold team has selected Asheville, NC as its new home and training ground. The team is coached by USA Triathlon certified coach Jarrod Evans and is made up of elite athletes competing at the International level. The squad is currently at work training for the next Olympic Trials in order to secure a spot in the Olympic Games in Tokyo. Two of the athletes, Mary Alex England and Sophie Chase, will represent the U.S. at the Pan American Games next month.  Green iguanas are typically green, though they can also be brown or nearly black in color. They have a row of spikes along their neck, back and upper tail and grow up to five feet in length. Males can weigh up to 17 pounds while females typically top the scales around seven pounds. They live on the ground, in shrubs or in trees and feed on a variety of vegetation, including ornamental plants, making them a nuisance to many homeowners.last_img read more

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