Tesla has announced that it intends to retool a solar panel factory in western New York state to manufacture medical ventilators due to the coronavirus pandemic, Kallanish Energy reports. That plan for the Tesla Giga New York factory in Buffalo, New York, was announced last week in tweet by CEO Elon Musk. Tesla will make … Read more
Wind developer Vestas has secured its fourth intertidal project contract in Vietnam with a 29-megawatt order, Kallanish Energy reports. The Ben Tre VI-3 wind project will be located in the Ba Tri District of Ben Tre province in the Mekong Delta region of Vietnam. The contract calls for seven wind turbines in … Read more
Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war between Saudi Arabia and Russia that is impacting U.S. shale producers. EOG said it intends to reduce activity across all of its operating areas and … Read more
Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, Kallanish Energy reports. The Canadian pipeline company said it has hired two contractors to proceed with the disputed Line 5 tunnel project. The tunnel will be … Read more
Pipeline operator Kinder Morgan announced last week it’s sold all of its 25 million shares of Canada’s Pembina Pipeline Corp. for $764 million after taxes, Kallanish Energy reports. The money will be used in its 2020 budget to reduce debt, said the Houston-based company. Kinder Morgan acquired the shares when Pembina bought Kinder Morgan Canada last … Read more
Texas-based Energy Transfer, an owner and operator of the Dakota Access Pipeline, wants to increase the pipeline’s capacity by more than 96%, to 1.1 million barrels per day of crude, from the Bakken in North Dakota, through South Dakota and Iowa into Illinois. To increase flow, the company wants to build a series of new … Read more
The Ohio Supreme Court has dismissed a complaint filed by FirstEnergy Solutions against a proposed referendum that could have killed a $1 billion bailout for two nuclear power plants in northern Ohio, Kallanish Energy reports. FirstEnergy Solutions had argued such a bailout amounted to a tax and cannot be subjected to a … Read more
New York-based utility giant Consolidated Edison (ConEd) is capping its investment in the troubled Mountain Valley natural gas pipeline. ConEd revealed in a U.S. Securities and Exchange Commission filing Monday (reviewed by Kallanish Energy) its CET Gas unit will cap its investment in MVP at $530 million. ConEd already has spent $488 … Read more
Alberta-based TC Energy last week reported third-quarter 2019 net earnings of $739 million, or 79 cents per share, Kallanish Energy reports, which compares to net income of $928 million, or $1.02 per share in Q3 2018. Net cash provided by operations was $1.6 billion. “During the third quarter of 2019, our diversified portfolio of regulated … Read more
India is investing over $60 billion in natural gas supply and distribution infrastructure as it seeks to more than double the share of natural gas in its energy base, to 15% by 2030, oil minister Dharmendra Pradhan said Sunday. Natural gas currently constitutes 6.2% of all energy consumption in the country, Hindu … Read more
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