PJM

Ormat Technologies Reports Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Wednesday, February 21, 2024

RENO, Nev., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company,” “Ormat,” “we” or “us”),  a leading renewable energy company, today announced financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • “I am pleased to report that Ormat delivered another quarter of solid results, marking a strong conclusion to a successful year in 2023,” said Doron Blachar, Chief Executive Officer of Ormat.
  • Diluted EPS for the fourth quarter and for the year 2023 were $0.59 and $2.08 per share, respectively, an increase of 84.4% and 77.8%, respectively, compared to last year.
  • Adjusted EBITDA for the fourth quarter and for the year 2023 were $139.0 million, and $481.7 million, respectively, an increase of 11.5% and 10.6%, respectively, compared to 2022.
  • The Company provides a reconciliation of Adjusted EBITDA, a non-GAAP financial measure for the quarter and year ended December 31, 2023.

Commonwealth of Virginia Selects Voltus as its Demand Response Provider

Retrieved on: 
Wednesday, February 21, 2024

Voltus was selected by Virginia Energy to help participating Commonwealth facilities earn revenue and generate savings by reducing electricity use in response to grid signals, such as high demand, inadequate supply, high prices and high emissions.

Key Points: 
  • Voltus was selected by Virginia Energy to help participating Commonwealth facilities earn revenue and generate savings by reducing electricity use in response to grid signals, such as high demand, inadequate supply, high prices and high emissions.
  • The Voltus platform will enhance performance during dispatches, track demand response earnings and avoided carbon emissions, and identify new energy efficiency and demand response opportunities, thus creating an increased financial opportunity for Commonwealth facilities.
  • “Most of our existing customers, like the Commonwealth, participated in PJM demand response programs for years prior to partnering with Voltus.
  • Voltus is deeply committed to delivering more demand response value to our customers, in some cases tripling demand response value compared to previous providers.

Fundamentals of Grid Batteries Course: Valuation, Design, Procurement, and Operations (Houston, United States - April 2-3, 2024) - ResearchAndMarkets.com

Retrieved on: 
Wednesday, February 28, 2024

The "In-Depth Seminar: Grid Batteries: Valuation, Design, Procurement, and Operations" training has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "In-Depth Seminar: Grid Batteries: Valuation, Design, Procurement, and Operations" training has been added to ResearchAndMarkets.com's offering.
  • The instructor runs a consulting practice and has many examples of the items in the training to show.
  • Where applicable the Acelerex Grid Analytics planning tools will be used for examples for BESS modeling and simulations.
  • Available financing options for ESS plants with application mapping - added with case studies - for utilities, commercial industrial, and residential.

Galehead Development Hires Dru Steubing as Chief Development Officer

Retrieved on: 
Wednesday, February 21, 2024

Galehead Development , a leading pure-play developer of renewable energy projects, decarbonization technology and Energy Transition infrastructure backed by Macquarie, has announced its hiring of Dru Steubing as Chief Development Officer (CDO).

Key Points: 
  • Galehead Development , a leading pure-play developer of renewable energy projects, decarbonization technology and Energy Transition infrastructure backed by Macquarie, has announced its hiring of Dru Steubing as Chief Development Officer (CDO).
  • With extensive experience developing utility-scale wind, solar, battery storage, and green fuel projects, Mr. Steubing is a powerful addition to the Galehead executive team.
  • His specialized knowledge in greenfield development, project commercialization and building development teams will help Galehead execute its mission to provide development solutions and deliver transformative projects which accelerate the Energy Transition.
  • Mr. Steubing was previously the Vice President of Development at Apex Clean Energy.

Vesper Energy Launches Commercial Operations on Nestlewood Solar Project

Retrieved on: 
Monday, March 4, 2024

DALLAS, March 4, 2024 /PRNewswire/ -- Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, today announced it commenced commercial operations on its Nestlewood Solar project in Ohio.

Key Points: 
  • DALLAS, March 4, 2024 /PRNewswire/ -- Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, today announced it commenced commercial operations on its Nestlewood Solar project in Ohio.
  • Vesper Energy originated Nestlewood Solar in 2017, one of the first utility scale solar facilities permitted, constructed and financed in Ohio.
  • "We are very proud to have reached commercial operations on the Nestlewood Solar project," said Vesper Energy CEO Craig Carson.
  • To learn more about Vesper Energy and the Nestlewood Solar project, visit www.vesperenergy.com .

PJM Appoints Aftab Khan as Executive Vice President - Operations, Planning & Security

Retrieved on: 
Monday, February 26, 2024

VALLEY FORGE, Pa., Feb. 26, 2024 /PRNewswire/ -- PJM Interconnection today announced the appointment of Aftab Khan as Executive Vice President – Operations, Planning & Security. He begins his role on March 11, 2024.

Key Points: 
  • VALLEY FORGE, Pa., Feb. 26, 2024 /PRNewswire/ -- PJM Interconnection today announced the appointment of Aftab Khan as Executive Vice President – Operations, Planning & Security.
  • Khan will report to PJM President and CEO Manu Asthana and will have overall responsibility for grid operations, transmission planning, cybersecurity and physical security, and business continuity.
  • As a member of PJM's Executive Team, Khan will work closely with PJM's CEO, other Executive Team members, and the Reliability & Security Committee of the PJM Board to coordinate PJM's grid operations and transmission planning, ensure both cybersecurity and physical security for the organization, and oversee business continuity efforts.
  • Prior to that, Khan spent 24 years with ABB in a variety of roles, including Senior Vice President – Power Transformers, North America; President – Power Systems Division, Saudi Arabia; and Senior Vice President – Grid Systems, North America.

AFFILIATE OF ARCLIGHT TO ACQUIRE LORDSTOWN ENERGY CENTER

Retrieved on: 
Tuesday, February 20, 2024

BOSTON, Feb. 20, 2024 /PRNewswire/ -- An affiliate of ArcLight Capital Partners, LLC (collectively, "ArcLight") today announced it has entered into a definitive purchase agreement to acquire 100 percent of the equity ownership interests in Clean Energy Future Lordstown, LLC ("Lordstown"). Lordstown owns and operates a highly efficient 940 MW combined cycle gas-fired power facility located in Warren, Ohio. Financial terms of the private transaction were not disclosed.

Key Points: 
  • BOSTON, Feb. 20, 2024 /PRNewswire/ -- An affiliate of ArcLight Capital Partners , LLC (collectively, "ArcLight") today announced it has entered into a definitive purchase agreement to acquire 100 percent of the equity ownership interests in Clean Energy Future Lordstown, LLC ("Lordstown").
  • Following the closing, ArcLight affiliate Alpha Generation, LLC ("AlphaGen") will manage Lordstown in conjunction with its incumbent fleet of flexible, fast-ramping power infrastructure.
  • "Highly efficient resources such as Lordstown are vital to the integration of renewable energy resources and ensuring the progression of the clean energy transition."
  • "ArcLight and AlphaGen are focused on positioning Lordstown to support and benefit from a sustainable, durable transition to a low-carbon future."

Medacta International Partners with SATO and SAIT in order to make Orthopaedic Implant Logistics more efficient and accurate with PJM RFID Technology

Retrieved on: 
Tuesday, February 20, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240212233482/en/
    Radiation hardened ISO/IEC 18000-3 PJM RFID (HF) tags for item-level identification of orthopaedic implants (Graphic: Business Wire)
    Medacta faced challenges in managing resources for orthopaedic surgeries.
  • To improve efficiency, the company turned to SATO's PJM RFID technology as a replacement for their existing barcode system which was laborious and time consuming.
  • SATO's advanced PJM RFID technology has been a game-changer for Medacta.
  • The deployment of SATO's PJM RFID technology, including the D-Series labels’ existing NFC capabilities, has been a game-changer for Medacta.

Nodal Exchange Achieves Daily Record in Power and January Records in Natural Gas and Environmental Markets

Retrieved on: 
Wednesday, February 7, 2024

Nodal Exchange announced new trading records in power, natural gas, and environmental markets.

Key Points: 
  • Nodal Exchange announced new trading records in power, natural gas, and environmental markets.
  • Nodal also almost surpassed last January’s record calendar month traded volume of 270.8 million MWh with 268.2 million MWh.
  • Nodal posted a calendar month trading record for January in its environmental markets with 45,837 lots traded, up 166% from 17,225 lots a year earlier.
  • “Nodal Exchange is proud to start the new year with record trading volumes in its power, natural gas and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear.

FERC Filing Marks PJM's Second Collaboration With New Jersey on Offshore Wind Transmission Study

Retrieved on: 
Monday, February 5, 2024

VALLEY FORGE, Pa., Feb. 5, 2024 /PRNewswire/ -- PJM and the New Jersey Board of Public Utilities have agreed to the terms on the next phase of a historic collaboration that deploys PJM's competitive planning process to help New Jersey further advance its ambitious offshore wind goals.

Key Points: 
  • This request asks PJM to solicit transmission solutions to serve an additional 3,500 MW of offshore wind energy, totaling 11,000 MW, by 2040.
  • New Jersey is the first state to use PJM's State Agreement Approach process to advance public policy goals.
  • The NJBPU in November 2020 requested use of the SAA to incorporate New Jersey's initial offshore wind goals (7,500 MW by 2035) into PJM's regional transmission planning process.
  • "In 2022, New Jersey demonstrated its national leadership in coordinated offshore wind transmission with the first-ever use of State Agreement Approach to help support the interconnection of responsibly developed offshore wind off of our coasts," said NJBPU President Christine Guhl-Sadovy.