Energy

Share to Twitter Share to Linkedin Rich Kinder, 2012. (By Matt Hawthorne, for Forbes.) After 18 years at the helm of the pipeline giant that bears his name, Richard Kinder is stepping down this summer from his CEO position. To commemorate the occasion, Kinder agreed to sit down for a kind of exit interview. We discussed his legacy, the importance of learning from history, and his thoughts on where the energy industry stands today. This Q&A has been edited for length and clarity. Q: That bust of Winston Churchill is in a prominent position on your desk. What's he mean to you? I've always had that bust. In my view he's a real leader. Probably the greatest person of the 20th century in in terms of the direct contributions of one individual. If he had not been in the place he was in May 1940 I think other leadership might have struck a separate peace with Hitler and the whole world of history would be different. Without the U.K. we … [Read more...] about The Interview: Billionaire Rich Kinder On Leadership, Legacy And Energy Security

Share to Twitter Share to Linkedin That last line was a not-so-veiled poke at the last energy giant to dominate Houston, Enron, where Kinder served as president before Ken Lay nudged him aside in favor of the now incarcerated Jeffrey Skilling. Kinder Morgan is in many ways an Enron do-over. Enron ultimately manipulated energy as ephemeral chits in a global trading game--a fraudulent one at that. Kinder Morgan's focus is far more tangible, and honest, encompassing 75,000 miles of pipe and 180 storage terminals capable of handling 2.5 million barrels of oil and 55 billion cubic feet of gas a day. Its publicly traded entities total $100 billion in enterprise value (equity plus debt). Still better, the company is solely focused on North America during the most important oil and gas boom in 50 years. Thanks to technologies like hydraulic fracking and horizontal drilling, oil production in the U.S. is already up to 6.2 million barrels per day from 5 million bpd in … [Read more...] about Rich Kinder’s Energy Kingdom

Share to Twitter Share to Linkedin The Dominican Republic is an idyllic island with abundant sunshine. Yet it gets 80% of its energy from fossil fuels, which come from coal, natural gas, and fuel oil. But the government is committed to getting a quarter of its electricity from renewables in 2025 and 30% in 2030. The two main drivers are geopolitics and a booming tourism industry that requires smart cities and clean energy sources. While visiting the island, national leaders explained that they are committed to reducing their CO2 emissions — promises made under the Paris climate agreement. The focus is on decreasing their reliance on fossil fuels and increasing their use of green energy. It is necessary because oil and natural gas prices have risen dramatically — a function of pent-up demand following the pandemic and the Russian invasion of Ukraine. Emerging economies now must compete with the most developed nations for energy resources. At the same … [Read more...] about The Dominican Republic Is Going Green To Boost Tourism And Energy Security

Share price of wind turbine manufacturer Suzlon Energy opened over 10 percent lower today, despite the company calming the nerves of investors and informing that the proposed 5:21 rights issue was on-track despite the death of top boss Tulsi Tanti on Sunday. "In continuation to the announcement dated October 2, the promoters and the promoter group have re-confirmed their participation in the proposed rights issue and have expressed their intention to subscribe to the full extent of their rights entitlement," the company said in a regulatory filing. Follow our market blog for all the live updates At 9:20 am, the share was quoting Rs 7.90 apiece on the National Stock Exchange, as it began trading ex-rights. In the week gone by, it was largely flat and closed at Rs 8.70 apiece. In 2022 so far, the stock has declined closed to 29 percent. Popularly known as the ‘wind man’ of India, Tulsi Tanti was a champion of resilience. He founded Suzlon in 1995 and persevered while … [Read more...] about Tulsi Tanti’s loss drags Suzlon Energy down, despite rights issue assurance

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Suzlon Energy on October 3 re-confirmed its participation in the Rs 1,200-crore rights issue, a day after the demise of its founder, chairman and managing director Tulsi Tanti. "In continuation to the announcement dated 2nd October 2022, the Promoters and the Promoter Group have re-confirmed their participation in the proposed rights issue and have expressed their intention to subscribe to the full extent of their rights entitlement. Accordingly, the Company will continue to follow the schedule for the proposed rights issue set out in its letter of offer dated 28th September 2022 (“LOF”). An addendum to the LOF will follow in due course," the company said in a regulatory filing. Also Read | Tulsi Tanti: The wind whisperer who battled storms Suzlon Energy's rights issue will open … [Read more...] about Suzlon Energy’s rights issue on track after chairman Tulsi Tanti’s demise

Tulsi Tanti, founder and chairman of Suzlon Energy, aged 64, passed away late evening on October 1. Shares of Suzlon Energy will likely be under pressure today after the passing away of the company’s founder, chairman and managing director Tulsi Tanti. The shares of the company will also trade ex-rights today. Popularly known as India’s ‘wind man’, Tanti was the pioneer of renewable energy revolution in the country. He founded Suzlon Energy in 1995 and the company's current market capitalisation stands at Rs 8,763.59 crore. The stock saw a decline of over 18 percent last month. In the week gone by, it was largely flat and closed at Rs 8.70 apiece. Also Read: Tulsi Tanti: The wind whisperer who battled storms After the untimely demise, CEO Ashwani Kumar in a letter to the employees wrote: “While the world will remember Tulsibhai as the pioneer of wind energy and a warrior against climate change, we know him better as the champion of creating a better world for our … [Read more...] about Suzlon Energy may trade lower after Tulsi Tanti’s demise; to trade ex-rights today

The government will cease the electronic reverse auction for renewable energy projects, Indu Shekhar Chaturvedi, secretary in the new and renewable energy ministry said on July 14, accepting the industry’s demand. The renewable energy industry urged the government to do away with the e-reverse auction, saying it led to intense competition and a steep fall in tariffs, which would make some projects unviable. The e-reverse auction platform was introduced to promote competition to get the best price, as it allowed the bidders to see all the bids in real time. It offered them the option to revise bids, unlike the closed ones where only one bid is submitted. “I can say with confidence that the reverse auction arrangement has in-principle been decided to be ended; a formal decision will follow soon,” Chaturvedi said at the Confederation of Indian Industry’s (CII’s) ‘India @2030: A Roadmap for Atma Nirbhar Bharat in Renewable Energy’ conference. The government’s procurement system … [Read more...] about India will stop awarding renewable energy projects via e-reverse auctions: MNRE secretary

"SELCO’s primary stakeholders range from the schoolchild studying at home...to the women’s self-help group (SHG) running a flour-processing mill." (Representational image by John Hult via Unsplash) Twenty-six-years ago, Arvind Rai, a school teacher in south India, took a leap of faith and installed a solar home lighting system, so that his children and his neighbours’ children could study in the evenings under brighter lights. Today, most of those children, if not all, have solar power in their homes as their source of reliable and quality energy supply. In 1995, access to electricity was a luxury for most rural communities in India. Less than 40 per cent of rural India was electrified. There was a significant challenge in providing energy for basic lighting, water heating and irrigation for households and villages not connected to the grid, perhaps not even close to a grid. Even when they were connected to the grid, electricity supply would be often unreliable and infrequent. … [Read more...] about Book excerpt | How SELCO helped to dispel 3 myths around solar energy use by rural communities

- A + A KUALA LUMPUR (Oct 3): The concessionaire of the proposed Petaling Jaya Dispersal Link (PJD Link Expressway) is seeking a listing on Bursa Malaysia via the reverse takeover of Practice Note 17 (PN17) company Scomi Energy Services Bhd. PJD Link (M) Sdn Bhd said the group and its shareholders — PJD Link Holdings Sdn Bhd and Noblemax Resources Sdn Bhd —  have entered into a framework agreement with Scomi Energy for the acquisition of PJD Link for an indicative price of about RM922 million. The parties are expected to enter into a definitive agreement within 60 days. The indicative price is based on the equity portion of the project financing of PJD Link Expressway, said PJD Link in a statement, adding that the acquisition is subject to the approval of relevant parties and government agencies. PJD Link also said that it would commence public engagement sessions this month to provide information and receive feedback on the highway project. These would include … [Read more...] about PJD Link Expressway concessionaire plans listing via reverse takeover of Scomi Energy

Steam comes out of the chimneys of Ilva steel plant in Taranto, Italy. REUTERS/Ciro De Luca/File photo LONDON – Manufacturing activity across the euro zone declined further last month as a growing cost of living crisis kept consumers wary while soaring energy bills limited production, a survey showed on Monday. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to a 27-month low of 48.4 in September from August’s 49.6, just below a preliminary reading of 48.5 and further below the 50 mark separating growth from contraction. An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good guide to economic health, dropped to 46.3 from 46.5, marking its fourth month of sub-50 readings. “The ugly combination of a manufacturing sector in recession and rising inflationary pressures will add further to concerns about the outlook for the euro zone economy,” said Chris Williamson, chief business economist at S&P Global. … [Read more...] about Euro zone factory activity declined again in Sept as energy bills bite -PMI