energypower
Climate campaigners have initiated legal proceedings in the High Court to challenge the UK’s approval of the Woodhouse Colliery project, the first new coal mine in the country in 30 years. Hearings commenced on Tuesday, marking a significant legal confrontation over the future of coal mining in the UK. What’s the Woodhouse Colliery project?In December 2022, the UK’s previous Conservative government approved the development of the Woodhouse Colliery project in Whitehaven, northwest England, spearheaded by West Cumbria Mining (WCM). The mine is intended to extract metallurgical coal, a key compo...
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Solaredge (SEDG) stock has had a horrible 1 year losing nearly 90% of its value. The company which engages in the development of inverter solutions is struggling with profitability. Earlier this week, SEDG announced it was laying off 400 employees to streamline operations, save costs, and as a result improve profitability. Along with the reduction in headcount, the company will also reduce discretionary spending. While the effect of laying off is intended to be financial stability, the cause lies in the market conditions. The reduction in demand in late 2023 and early 2024 meant the company wa...
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In a move that could significantly reshape the mining industry, Rio Tinto, the global mining giant listed in London and Sydney, is reportedly considering buying Teck Resources. Following BHP’s unsuccessful £24.7 billion bid for Anglo American, Rio Tinto has been evaluating potential targets, with the Canadian mining firm at the forefront. Detailed proposals and financing approachesRio Tinto has drafted detailed proposals for a potential bid for Teck Resources, one of Canada’s leading mining companies. These proposals involve discussions with banks to finance a deal that could value Teck Resour...
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What a difference can a few months make. The Siemens Energy (ENR) share price has moved from being the worst-performer in the DAX index in 2023 into the best-performing one this year. It has jumped by almost 150% this year and by 330% from its lowest point in 2023. Siemens Energy has also beaten other wind energy companies like Orsted and Vestas Wind Systems, which have underperformed the market this year. Siemens Energy vs Orsted vs Vestas Wind Systems Siemens Energy almost collapsed in 2023Siemens Energy is one of the biggest energy companies in Germany. It is a large firm that manufactures ...
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Solar stocks may do well moving forward now that we’re finally out of a “power bear market”, says John Berger. He’s chief executive of the Houston-headquartered Sunnova Energy International Inc (NYSE: NOVA). Shares of the residential and commercial solar energy company are down some 60% year-to-date at writing. Why is CEO Berger bullish on Sunnova stock?John Berger is bullish on what the future holds for the likes of Sunnova Energy as electric vehicles and rapid growth in artificial intelligence will likely translate to solid demand in the long run. He’s positive on solar as he expects the “po...
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First Solar Inc (NASDAQ: FSLR) has lost about 25% over the past few weeks but a Deutsche Bank analyst is convinced that the story moving forward will be a different one. Shares of the solar panels manufacturer do not currently pay a dividend either. First Solar stock could gain another 20%Corinne Blanchard reiterated her “buy” rating on First Solar stock this morning and raised her price target to $280 that translates to about a 20% upside from here. The analyst’s new price target on FSLR assumes a multiple of 15 times on its estimated EPS for 2025. She recommends owning shares of the solar pa...
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Famed investor Jim Cramer is tapping on an over 20% hit to Nextracker Inc (NASDAQ: NXT) in recent weeks to build a position. Shares of the solar energy solutions company are roughly flat for the year. How many shares of Nextracker did Cramer buy?Jim Cramer pulled out of Foot Locker and used the proceeds to load up on 350 shares of Nextracker on Thursday. The Mad Money host also told members of his investment club today that he may choose to expand his stake in NXT over time. Cramer dubbed the Nasdaq-listed firm a leader in a rapidly growing market. He’s bullish on Nextracker also because its m...
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Plug Power (NASDAQ: PLUG) stock price has been in a strong freefall since May as concerns about its business continue. It has retreated to below $2.50 and is nearing the important support at $2.22, its lowest swing in January and May this year. Concerns about Plug Power remainPlug Power is one of the most high-risk and high-reward companies in the United States. It is a pioneer in the hydrogen energy industry and has substantial potential if demand continues rising as some analysts expect. Plug Power has made costly progress in the past few years. It has already started selling hydrogen from i...
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In 2023, total fossil fuel consumption reached a record high worldwide, the Energy Institute (EI) reported yesterday. Published in the 73rd annual Statistical Review of World Energy report by the EI (along with co-authors KPMG and Kearney), the release presented the first full global energy data for 2023. It stated that 2023 was a year of several historic energy consumption records – not all of them positive. Historic emissions and energy usagePerhaps most startlingly, the report revealed that global emissions from energy increased by 2% in 2023, exceeding 40 gigatonnes of CO for the first tim...
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SunPower Corporation (NASDAQ: SPWR) has been nothing but disappointment for investors over the past twelve months. Still, there’s reason to believe that its future may be markedly different from the past year. How may Amazon and Microsoft help SunPower?Renewables do not currently make up a significant portion of power generation in the United States. Solar, for example, accounts for just 3.9% of the total electricity generation in the U.S. at the moment. Plus, there are concerns of reliability coupled with clean energy as well. That’s partly why solar stocks haven’t been able to do all that we...
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