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U.S. utility CEO: Move away from coal ‘saves everyone money’

first_imgU.S. utility CEO: Move away from coal ‘saves everyone money’ FacebookTwitterLinkedInEmailPrint分享Energy News Network:In a speech this week to a large, business-friendly crowd in Grand Rapids, Michigan, Consumers Energy President and CEO Patti Poppe presented an economic case for solar power, electric vehicles and moving past coal.The company closed seven Michigan coal plants in 2016, cutting carbon emissions 25 percent without hurting its workforce. As the company focuses on solar in the coming years, Poppe said electric vehicles will play a growing role in the company’s “triple bottom line” principle of serving people, the planet and prosperity.It’s a big departure for a CEO who not too long ago had an “I love coal” bumper sticker on her car:Poppe conceded that Consumers previously “fought” solar adoption. Now the company is embracing it, planning up to 6,000 megawatts of solar in its portfolio by 2040. “We can have cleaner, more modular energy that more closely matches demand,” Poppe said. “It saves everyone money.”She said the build-out will be “a little bit of both” utility-scale and smaller distributed projects, but active farmland isn’t the company’s first choice for development. “We should be finding ways to use otherwise unusable land for solar — parking lots, warehouse rooftops,” she said.Earlier this year, the company announced it would be coal-free by 2040 and reduce carbon emissions by 90 percent while also reducing water usage and waste sent to landfills. The company also does not plan large capital investments in a natural gas plant. “It’s a win-win-win,” she said. “That’s why it’s not an economic risk to move away from a traditional energy source like coal.”More: Four key takeaways from a Michigan utility’s clean energy transitionlast_img read more

Saipem expands fleet with ‘Lewek Constellation’ buy

first_imgItalian offshore contractor Saipem has entered into an agreement to acquire the ultra-deepwater pipelay and construction vessel Lewek Constellation.Saipem said on Thursday that the 2013-built Lewek Constellation was ready to be promoted for commercial opportunities.The Constellation will be marketed in all geographic areas including the Gulf of Mexico, the North and Norwegian Seas where, according to Saipem, the vessel characteristics make it suitable to pursue the subsea tie-back initiatives predominant in those areas.Stefano Cao, Saipem CEO, said: “The Constellation is the latest addition to Saipem world-class fleet that will integrate our offering with reeling capabilities in order to safely and competitively respond to the needs of the subsea tie-back market.“Indeed, in the current economic scenario, the subsea tie-back developments are becoming increasingly important as they maximize the utilization of the existing infrastructures at reasonable expenditures. The acquisition of the Constellation bridges this gap, expanding the set of future opportunities.”Saipem added that the Constellation would be acquired for $275 million through the partial utilization of available liquidity.“Considering the time to finalize commercial endeavors on this expanded business segment, revenues and EBITDA adjusted 2018 guidance will remain unchanged,” the company said.The Constellation, bought from Emas Chiyoda Subsea, is currently located in the Gulf of Mexico, near Galveston, USA.To recall, Emas Chiyoda Subsea, a joint venture between Ezra Holdings Limited and the Chiyoda Corporation, filed a petition for bankruptcy protection at a U.S. court in late February 2017last_img read more