Tag Archives: Electrical Utilities (TRBC level 4)

Uniper said Germany’s burgeoning hydrogen market needed an increase in demand | Instant News


FRANKFURT (Reuters) – Uniper utility UN01.DE on Tuesday said the emerging market for hydrogen in Germany, funded by the government with billions of euros, needed to secure demand from industry, transportation and also from households for heating.

FILE PHOTOS: The logo of the German energy utility company Uniper SE is depicted at the company’s headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS / Thilo Schmuelgen

If the industry joins the market, prices could fall and Uniper could use its gas infrastructure assets and trading expertise for hydrogen, Chief Executive Andreas Schierenbeck told reporters during the revenue call.

“That’s an area we’re good at,” he said, adding that technology is moving forward rapidly, and scalable projects could be built in a few years.

The government in the summer allocated 7 billion euros ($ 8.25 billion) to build green hydrogen in Germany, plus another 2 billion euros for partnerships with other countries.

The aim is to end Germany’s dependence on coal and nuclear power and to harness the production of renewable power for hydrogen to help ultimately reduce the carbonization of energy used in industry.

The so-called green hydrogen can be used as a substitute for gasoline in the transportation industry and can replace gas or heating oil for home heating.

Schierenbeck quoted analysts estimating that Germany’s target of 5 gigawatts (GW) of electrolysis capacity by 2030 – needed to convert green power to hydrogen – could produce 15 terawatt hours (TWh) of hydrogen a year while Germany would need 100 TWh at that stage.

“There will be a huge import gap,” he said.

Schierenbeck said Uniper’s commerce department could handle commercial hydrogen flows and that plans recently put in place for a liquefied natural gas (LNG) terminal at Wilhelmshaven could potentially be adapted for the emerging hydrogen economy.

Uniper said last Friday there was not enough interest to deliver LNG to the Wilhelmshaven site.

Uniper also said preliminary results from ongoing discussions with the majority owner of Fortum FORTUM.HE The two companies’ strategic alignment will be presented during the Finnish group capital markets day on 3 December.

Reporting by Vera Eckert, editing by Christoph Steitz and Jane Merriman

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Australian, New Zealand stocks surged as markets supported Biden’s win | Instant News


(Reuters) – Australian stocks closed higher on Monday, after posting their best intraday session since early March, as investors expected an election win for US President-elect Joe Biden to usher in a period of calmer global trading.

FILE PHOTOS: A board displaying stock prices is seen on the Australian Stock Exchange (ASX) in Sydney, Australia, 9 February 2018. REUTERS / David Gray

An outcome that is likely to keep Republicans still in Senate control would also mean legislative bottlenecks, which could hurt Democrats’ agenda of introducing higher corporate taxes and tighter financial regulations, analysts said.

With all the major indices trading in green, the benchmark index is S & P / ASX 200 .AXJO rose for the third session to close 1.8% higher.

“Being president of Biden might eliminate some of the potential volatility in terms of global trade,” said James Tao, market analyst at CommSec.

“This means less tax disruption and tax reform. “It’s definitely something that businesses have been rallying on,” he added.

“When it comes to relations with the US, Australia has always had very strong ties that big changes are unlikely. But you could say there is definitely no downside. “

On the house front, Australian mining stocks .AXMM was the biggest winner, noting their best session since June 16 as iron ore futures jumped nearly 5%. [IRONORE/]

The global mining giant, BHP BHP.AX and Rio Tinto RIO.AX each up more than 3%.

Technology sub-index .AXIJ rallied 2.8% to hit a record high with buy-now-pay-later company Afterpay APT.AX added as much as 4.5%.

Biden’s win is likely to lead to increased domestic production of the metal used to make electric vehicles, solar panels and other products critical to his climate plans.

Lifting further risk appetite were comments from the state of New South Wales saying it would move to renewable energy and aim to attract A $ 32 billion ($ 23.35 billion) worth of private investment into the sector in the next decade.

Renewable energy stocks such as Genex Power GNX.AX and the Hazer Group HZR.AX ends in positive territory.

Across the Tasman Sea, New Zealand’s leading S & P / NZX 50 index .NZ50 ended 1.8% stronger after hitting record highs during the session.

According to a Reuters poll, the central bank is seen holding the official interest rate at 0.25% at its monetary policy meeting on Wednesday.

($ 1 = 1.3704 Australian dollars)

Reporting by Deepali Saxena, Editing by Sherry Jacob-Phillips

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Australian, NZ stocks surged as markets supported Biden’s win | Instant News


* The ASX 200 benchmark index reached its highest level in more than 8 months

* Aus tech stocks hit record highs

* NZ cenbank seen holding interest rate at 0.25% – Reuters Poll (Close update)

November 9 (Reuters) – Australian stocks closed higher on Monday, after recording their best intraday session since early March, as investors expected an election win for US President-elect Joe Biden to usher in a calmer period of global trading.

An outcome that is likely to keep Republicans still in Senate control would also mean legislative bottlenecks, which could hurt Democrats’ agenda of introducing higher corporate taxes and tighter financial regulations, analysts said.

With all major indexes trading in the green, the benchmark S & P / ASX 200 index rose for the third session to close 1.8% higher.

“Being president of Biden might eliminate some of the potential volatility in terms of global trade,” said James Tao, market analyst at CommSec.

“This means less tax disruption and tax reform. “It’s definitely something that businesses have been rallying on,” he added.

“When it comes to relations with the US, Australia has always had very strong ties that big changes are unlikely. But you could say there is definitely no downside. “

On the domestic front, Australian mining stocks were the biggest winners, recording their best session since June 16 as iron ore futures surged nearly 5%.

Global mining giants BHP and Rio Tinto each gained more than 3%.

The technology sub-index advanced 2.8% to hit a record high with buy-now-pay-later Afterpay adding as much as 4.5%.

Biden’s win is likely to lead to increased domestic production of the metal used to make electric vehicles, solar panels and other products critical to his climate plans.

Lifting further risk appetite were comments from the state of New South Wales saying it would move to renewable energy and aim to attract A $ 32 billion ($ 23.35 billion) worth of private investment into the sector in the next decade.

Renewable energy stocks such as Genex Power and Hazer Group ended up in positive territory.

Across the Tasman Sea, New Zealand’s benchmark S & P / NZX 50 index ended up 1.8% after hitting a record high during the session.

According to a Reuters poll, the central bank is seen holding the official interest rate at 0.25% at its monetary policy meeting on Wednesday.

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A Brazilian court says power must be rebuilt in Amapá in 3 days | Instant News


SAO PAULO, November 8 (Reuters) – A federal court in northern Brazil’s Amapá state on Sunday gave authorities three days to restore power after days of statewide blackout due to a transformer fire.

The northern state has been virtually without electricity since a blackout on Tuesday night and received only 10% of its normal electricity supply, national grid operator ONS said last week. Authorities are working around the clock to replace transformers put out by a fire at the main power plant in the capital Macapá, where most of the state’s 862,000 residents live.

Power must be revived, or there will be a fine of 15 million reais, federal judge João Bosco da Silva decided, in response to a lawsuit filed by Senator Randolfe Rodrigues.

As of Saturday, a federal government task force had managed to return 65% of the state’s cargo, according to records from the Ministry of Mines and Energy.

President Jair Bolsonaro said on Saturday that the situation would only be fully resolved in ten days. (Reporting by Roberto Samora; Editing by Daniel Wallis)

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REFILE-FACTBOX-How CDP country-backed lenders are increasing their role in Italy Inc. | Instant News


(Adds extra context on the role at Telecom Italia)

Nov 2 (Reuters) – What do the bids for Italy’s biggest highway operator have in common involving Macquarie and Blackstone and a hedge fund campaign for board seats in the country’s top telecommunications group? The answer is Cassa Depositi e Prestiti (CDP) which is featured in both.

The 170-year-old Italian state-backed lenders and investors, led by CEO Fabrizio Palermo, have played an increasingly active role at Italy Inc in recent years to keep strategic assets in national hands and reduce the economic damage caused by the coronavirus pandemic.

Currently, it has 35 billion euros ($ 40.8 billion) invested in funds and companies ranging from oil giant Eni to plasma derivative specialist Kedrion – a number set to increase in the coming months.

And what is most interesting is that the debt is not accounted for as part of a huge public debt pile in Italy.

Below is an overview of the most recent transactions brokered by CDP investing savings made by Italians through the Poste Italiane national post office network.

MOTORWAYS

A consortium led by the CDP involving investment funds Macquarie and Blackstone is in talks with Italian infrastructure group Atlantia to buy its 88% stake in highway unit Autostrade per l’Italia in a deal worth 9 billion euros. CDP can get 40% from the tender company.

If the CDP is successful, more than 3,000 km of roadways will return under effective state control, drawing a line under the fierce dispute between Atlantia and the government that has its roots in the collapse of the deadly Genoa bridge in 2018.

STOCK MARKET

In the coming months CDP will become a leading shareholder in French stock market operator Euronext and a major investor in the Milan stock exchange group, which manages the Italian stock market and government bond platform MTS.

With 7.3% of Euronext, CDP will own the same stake as its French counterpart Caisse des Depots.

CDP is working with Euronext and Italy’s biggest bank Intesa Sanpaolo to agree to buy Borsa Italiana from the London Stock Exchange in a 4.3 billion euro deal last month.

DIGITAL PAYMENTS

CDP is orchestrating a merger between Italy’s Nexi and smaller rival SIA to create a dominant domestic payments group. Nexi is now in exclusive talks to buy Nordic rival Net.

Prior to the potential deal with the Nets, CDP was expected to own a quarter of Nexi-SIA, making it the largest single investor, followed by private equity owners Nexi, Advent, Bain Capital and Clessidra. CDP has invested 240 million euros to get nearly 50% of SIA.

TELECOM AND BROADBAND

CDP has built a 10% stake in the former state telephony monopoly Telecom Italia, which is valued at 630 million euros at current market prices, to offset the influence of French media group Vivendi, which is the largest shareholder in a company it deems strategic.

In a bid to ease Vivendi’s grip on Italian telephone groups, the CDP sided with US activist fund Elliott at a major shareholder meeting to appoint a new board of directors in 2018.

CDP is interested in creating a unified national operator that combines the network assets of Telecom Italia with its smaller rival Open Fiber, a broadband network operator in which CDP is investing 360 million euros for a 50% stake.

Sovereign lenders will be leading shareholders in every champion of a new network designed to give businesses and homes a fast connection and close Italy’s digital divide. CDP will have the authority to examine strategic issues regarding new network operators.

CONSTRUCTION

Under ‘Project Italy’, CDP joined forces with construction company Webuild to organize a joint rescue of small rival Astaldi to create national power and revive the country’s ailing construction industry.

CDP guaranteed a 250 million euro capital increase in Webuild to acquire an 18.7% stake in the group. ($ 1 = 0.8583 euros) (Reporting by Francesca Landini, Stephen Jewkes, Elvira Pollina, Valentina Za Editing by Keith Weir)

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