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European solar - >>> Losing hope of rescue, some European solar firms head to US
Reuters
by Sarah McFarlane and Riham Alkousaa
4-15-24
https://www.yahoo.com/news/losing-hope-rescue-european-solar-060514885.html
FRIEBERG, Germany (Reuters) - European governments due to move to support their solar power manufacturers this week will be too late to stop solar panel maker Meyer Burger packing up a German factory to send production to the United States.
The plant in Freiberg in eastern Germany closed in mid-March with the loss of 500 jobs, as the Swiss-listed firm joined a growing list of European renewable energy manufacturing factories shutting down or moving. In the past year, at least 10 have said they are in financial difficulties.
On a recent visit to the site, giant white robotic arms hung dormant over empty wooden pallets as workers prepared the last production line for shutdown. Talks with the German federal government to try to secure a future for the factory ended without success in late March, a company spokesperson told Reuters.
Germany's economy ministry said it was aware of the "very serious situation" of German companies and has been examining funding options with the industry for over a year. It agreed to give Meyer Burger an export credit guarantee for equipment produced in Germany to be used at the U.S. factories, which will help a site nearby but won't save the Freiberg one.
The closure, which in one sweep reduced European solar panel production by 10%, comes despite a boom in wind and solar energy in Europe. Additions to renewable energy capacity, including solar panels, are running at record pace, according to data from the International Energy Agency.
But Europe-based manufacturers that supply those panels are being crushed by competition from China and the U.S., whose governments give more support to their producers.
The situation poses a dilemma for European governments keen to fight climate change: Either offer more support to ensure local production can stay competitive, or allow the unfettered flow of imports to keep up the pace of installations. A meeting in Brussels between European energy ministers on Monday will make a gesture of support for the struggling industry.
China is expanding solar output and now accounts for 80% of the world's solar manufacturing capacity. The cost of producing panels there is around 12 cents per watt of energy generated, compared with 22 cents in Europe, according to research firm Wood Mackenzie.
U.S. subsidies announced as part of the 2022 Inflation Reduction Act allow some renewable energy manufacturers and project developers to claim tax credits, which are attracting businesses from within the European Union and beyond.
Meyer Burger says its plans include a solar panel factory in Arizona and a solar cell factory in Colorado.
"We made a bold move in the absence of any industry policy support in Europe and shifted a solar cell expansion project from Germany to the U.S.," its chief executive Gunter Erfurt told Reuters in an interview.
Similarly, battery company Freyr which operates mostly in Norway, has stopped work at a half-finished plant near the Arctic Circle and is focusing on plans for a plant in the U.S. state of Georgia after Washington announced the policy.
Freyr said in February it had changed its registration to the U.S. from Luxembourg.
"We did spend quite a bit of time trying to really make sure that we weren't committing a mistake," said Birger Steen, chief executive of Freyr: The company first hunted for support from Norwegian or European governments.
"We got to the point where we concluded that that form of policy level response was not forthcoming."
Asked to comment, Norway's ministry of trade and industry said that it had launched an industrial policy framework targeting energy transition technologies including solar and batteries, but did not directly address questions about additional funding for the companies in this story.
CHARTER
At Monday's meeting, the European Commission will launch a voluntary charter for governments and companies to sign in support of solar manufacturing plants. Industry association Solar Power Europe will coordinate company signatories. But the charter, which says that buyers of solar panels should include some domestic production in what they buy, is not enforceable, Solar Power Europe said.
Michael Bloss, EU parliament member for Greens, launched a petition earlier this month calling for action at a European level to rescue panel manufacturers.
Bloss says he is pushing for the European Commission to set up a 200 million euro ($213 million) fund to buy up unused European-made solar panels, but Europe has been unwilling to pursue that. The European Commission declined to comment.
"We are -- in headlines and Sunday speeches -- very much in favour of creating our own solar industry, but then in action, nothing happens," Bloss told Reuters.
"The charter will be more like a political declaration signed by member states, solar companies and the Commission, it's more long term, it has no immediate effect."
In February, European policymakers adopted the Net-Zero Industry Act, a set of measures including a target to produce 40% of the region's clean tech needs by 2030.
The previous month, the EU also approved almost $1 billion of German state aid for a Swedish battery producer, Northvolt, to help it set up a production plant in Germany after Northvolt threatened to take its business to the United States. It was the first time the bloc made use of an exceptional measure allowing member countries to step in with aid when there's a risk of investment leaving Europe.
But aid for ongoing operations has not been forthcoming, amid political disagreement over how much public funds should go to struggling businesses.
Decisions about supporting industries or firms like Meyer Burger are down to member states, a spokesperson for the European Commission told Reuters. Germany's economy and climate ministry believes aid to maintain an existing company like Meyer Burger would not be legal "if there is a lack of market prospects from the company's perspective," a spokesperson told Reuters.
Potential customers -- renewable energy installers that depend heavily on cheap Chinese imports -- have also pushed back against any new subsidies for local panels, arguing such moves could hurt them by causing consumers to postpone orders as they wait for the subsidies to kick in.
INTERTWINED
More than a year's worth of low-price imported panels sit in European warehouses awaiting installation, according to consultancy Rystad Energy and solar panel makers. Reuters could not independently verify that estimate.
That backlog could grow as Chinese capacity continues to expand, Rystad says: If all the plans Chinese firms have announced go ahead, China's industry will be able to make twice as many panels as are expected to be installed worldwide in 2024, said Marius Mordal Bakke, senior analyst at Rystad.
Dresden-based Solarwatt is carrying six to nine months of stocks, up from around six weeks, its chief executive Detlef Neuhaus told Reuters in March.
The company laid off around 10% of its employees last year and says its local panel production is running at roughly one-third of capacity.
"This industry is so important for the future, we cannot allow that we are losing all our competence," said Neuhaus.
Analysts say it's not clear what support could actually help, because firms like Meyer Burger produce a fraction of the volumes made by those in China, or planned in the U.S.
"They are tiny, so they will always struggle with volume, not just to compete with Chinese producers but also with U.S. producers," said Eugen Perger, senior analyst at Research Partners AG.
And local clean technology industries are so globally intertwined it's hard for European manufacturers to imagine a fully independent supply chain.
Norway-based NorSun, which produces solar wafers – thin silicon film used in panels – said Chinese equipment is crucial to both its plant in Norway and a proposed facility in the U.S. The company has halted production at the Norway plant while it decides whether to upgrade it.
Most of the equipment for either project would have to come from China. "There's essentially no other option," said Carsten Rohr, chief commercial officer at NorSun.
DEJA VU
Freiberg has been here before. Since the 1990s, companies setting up operations in the region have benefited from federal funding programmes to rebuild east Germany and help it close the gap with western Germany's prosperity.
New industries sprang up, including in solar and semiconductors. But Freiberg took a big hit in the 2010s after China's solar industry boosted production and undercut competitors.
In 2020, the German government removed a cap on subsidies for solar power installations which helped lift demand. In 2021, the EU's Green Deal signalled political support for future demand, and Russia's full invasion of Ukraine also helped solar deployment.
Meyer Burger, which is headquartered in Gwatt, Switzerland, only set up production in Freiberg in 2021 as the industry started coming back to life. It refurbished a bankrupt solar company's plant that had stood unused for almost three years.
For a while it became one of the town's largest employers, mayor Sven Krueger confirmed.
"This is the second time the German solar industry is at risk. They failed once already," said apprentice Max Lange, 19, greeting colleagues with a silent nod as they cleaned idled machinery on the factory floor.
"If it fails again, I doubt that I will be able to pursue a career in the European solar industry, because I don't think it will come back," he said, wondering aloud if he might instead find work in the U.S. solar industry.
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>>> Nextracker Inc. (NASDAQ:NXT) is a renewable power generation company headquartered in California.
https://finance.yahoo.com/news/20-states-produce-most-renewable-012901150.html
It provides solar energy solutions such as utility-scale solar power, solar power plant performance monitoring, and tracking systems. On February 12, the company announced that it has been selected for a repeat order to supply its solar trackers of 1.5 GW and 375 GW by Sterling and Wilson Renewable Energy Ltd (NSE:SWSOLAR), a leading renewable solutions provider in India. The solar trackers will be utilized for phase two and phase three solar projects at the solar park of NTPC Renewable Energy Limited in Gujarat, India. The tracker selected for the plant is Nextracker Inc.'s (NASDAQ:NXT) NX Horizon smart solar tracker, which is one of the most reliable and widely deployed trackers of the company. It boasts high speed, installation ease, and the ability to provide tracking services for challenging sites. This order marks the completion of over 5 GW of collaborative solar power generation projects by Nextracker Inc. (NASDAQ:NXT) and Sterling and Wilson Renewable Energy Ltd (NSE:SWSOLAR).
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>>> Phillips 66 Announces Major Milestone in Production of Renewable Diesel
Business Wire
Apr 1, 2024
https://finance.yahoo.com/news/phillips-66-announces-major-milestone-203900162.html
HOUSTON, April 01, 2024--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.
The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately 30,000 barrels per day of renewable diesel. The Rodeo Renewable Energy Complex is on track to increase production rates to more than 800 million gallons per year (50,000 BPD) of renewable fuels by the end of the second quarter, positioning Phillips 66 as a leader in renewable fuels.
"We are proud to announce this significant achievement at our Rodeo facility," said Rich Harbison, Phillips 66 executive vice president of Refining. "The project advances Phillips 66’s long-held strategy to expand our renewable fuels production, lower our carbon footprint, and provide reliable, affordable energy while creating long-term value for our shareholders."
Harbison added, "We’ve had strong execution to-date and are fully focused on finalizing the project in the second quarter."
The Rodeo Renewed project design also provides the capability of producing renewable jet, a key component of sustainable aviation fuel (SAF), expected to start production in the second quarter of 2024.
Phillips 66 made a final investment decision to move forward with the Rodeo Renewed project in 2022, transforming the San Francisco refinery into one of the world’s largest renewable fuels facilities. As a world-class supplier of renewable fuels, the converted facility leverages a premium geographic location, unique processing infrastructure and flexible logistics to significantly reduce lifecycle carbon emissions.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
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>>> Phillips 66 Announces Major Milestone in Production of Renewable Diesel
Business Wire
Apr 1, 2024
https://finance.yahoo.com/news/phillips-66-announces-major-milestone-203900162.html
HOUSTON, April 01, 2024--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.
The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately 30,000 barrels per day of renewable diesel. The Rodeo Renewable Energy Complex is on track to increase production rates to more than 800 million gallons per year (50,000 BPD) of renewable fuels by the end of the second quarter, positioning Phillips 66 as a leader in renewable fuels.
"We are proud to announce this significant achievement at our Rodeo facility," said Rich Harbison, Phillips 66 executive vice president of Refining. "The project advances Phillips 66’s long-held strategy to expand our renewable fuels production, lower our carbon footprint, and provide reliable, affordable energy while creating long-term value for our shareholders."
Harbison added, "We’ve had strong execution to-date and are fully focused on finalizing the project in the second quarter."
The Rodeo Renewed project design also provides the capability of producing renewable jet, a key component of sustainable aviation fuel (SAF), expected to start production in the second quarter of 2024.
Phillips 66 made a final investment decision to move forward with the Rodeo Renewed project in 2022, transforming the San Francisco refinery into one of the world’s largest renewable fuels facilities. As a world-class supplier of renewable fuels, the converted facility leverages a premium geographic location, unique processing infrastructure and flexible logistics to significantly reduce lifecycle carbon emissions.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
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GE Vernova - >>> GE completes three-way split, breaking off from its storied past
Reuters
by Rajesh Kumar Singh and Abhijith Ganapavaram
April 2, 2024
https://finance.yahoo.com/news/ge-completes-three-way-split-103653223.html?.tsrc=fin-notif
CHICAGO (Reuters) -General Electric on Tuesday completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power.
The industrial giant's aerospace and energy businesses began trading on the New York Stock Exchange as separate entities more than a year after GE spun off its healthcare business.
GE Aerospace has retained the GE symbol. The energy unit, GE Vernova, made its debut under the ticker symbol GEV.
GE Aerospace shares were up about 2% at mid-afternoon. Vernova rose about 5%.
The breakup culminates CEO Larry Culp's efforts to turn around a company that looked all but dead due to bad investments and the 2008 financial crisis that nearly bankrupted its most profitable business, GE Capital.
When Culp, the first outsider to run GE, took the helm in 2018, the company was struggling with weak profits and a mountain of debt. Its stock had fallen nearly 80% from highs in 2000 and lost its spot in the Dow Jones Industrial Average after over a century in the blue-chip stock index. The tumult prompted GE's board to oust two of his predecessors in less than two years.
Culp's task to save the struggling conglomerate became more challenging when its lucrative jet engine business fell victim to the coronavirus pandemic as global air travel dried up. However, his focus on paying off debt by selling assets and improving cash flows by streamlining operations and cutting overhead costs ushered in a recovery.
GE has slashed more than $100 billion of debt and quadrupled its free cash flow since 2018. Its market cap has grown by about $100 billion to $192 billion.
"With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE," Culp said on Tuesday.
Culp, as the CEO of GE Aerospace, rang the NYSE opening bell on Tuesday, along with Vernova CEO Scott Strazik.
GE was formed in 1892 after famed inventor Thomas Alva Edison merged Edison General Electric Co with a rival. In subsequent years, it has touched all parts of life - from bringing electricity to selling appliances to financing mortgages.
After the split, it will be left with its aerospace business, which makes engines for Boeing and Airbus jets and generates more than 70% of its revenue from services.
Analysts estimate the market value of GE Aerospace at more than $100 billion after the spinoff. It is benefiting from a surge in demand for aftermarket services because jet delivery delays by Boeing and Airbus are forcing airlines to fly older planes for longer.
Last month, it forecast operating profit of about $10 billion in 2028.
"We expect GE Aerospace's engine business flywheel to spin off decades of profitable growth," Nicolas Owens, equity analyst at Morningstar, wrote in a note.
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NextEra Energy - >>> Beat the S&P 500 With This Cash-Gushing Dividend Stock
by Matt DiLallo
Motley Fool
March 29, 2024
https://finance.yahoo.com/news/beat-p-500-cash-gushing-091500753.html
NextEra Energy (NYSE: NEE) isn't your average utility stock. Most utilities tend to be slower-growing companies known more for paying higher-yielding dividends. As a result, many struggle to beat the S&P 500. However, while NextEra does pay an above-average dividend (currently yielding 3.4% compared to the S&P 500's 1.3%), it has a proven ability to deliver market-beating total returns. Over the last decade, the utility has produced a 13.1% average annualized total return, outpacing the S&P 500's 12.9% total return.
NextEra should have the power to continue outperforming the S&P 500 in the future. Here's why.
A cash-gushing machine
Like most utilities, NextEra Energy generates lots of stable cash flow. In 2023, it produced $11.3 billion in net cash provided by operating activities. It used $3.7 billion of that cash to pay dividends to shareholders. That gave the company a relatively low dividend payout ratio (59% of its adjusted earnings, well below the peer group average of 65%).
NextEra Energy retained the rest of its steady cash flow to help fund new investments to grow its electric utility in Florida (FPL) and Energy Resources platform. It invested $9.4 billion at FPL, including placing 1.2 gigawatts (GW) of cost-effective solar projects into service and starting up a 25-megawatt hydrogen pilot project at its Okeechobee Clean Energy Center. Meanwhile, it invested roughly $15.7 billion to expand the Energy Resources business, primarily to build new renewable energy capacity. The company funded the shortfall with asset sales and its strong balance sheet.
These investments helped lift its adjusted earnings by 9.3% per share last year. That earnings expansion supported a 10% increase in the company's dividend. NextEra Energy has boosted its adjusted earnings at a 10% compound annual rate over the last decade while delivering 11% compound annual dividend growth. That rapid earnings and dividend growth have helped power its market-beating returns.
The fuel to continue beating the S&P 500
NextEra Energy Partners expects to use its strong cash flow to continue increasing its dividend and invest in expanding its infrastructure. It's investing $85 billion to $95 billion through 2025 in infrastructure projects. FPL expects to add 4.8 GW of solar capacity over the next few years. Meanwhile, its Energy Resources segment has secured over 20 GW of wind, solar, and energy storage projects. It's also investing money to modernize FPL and build energy transmission lines in Energy Resources.
These investments should boost its earnings by 6% to 8% annually through at least 2026, with the expectation that growth will be toward the upper end of that range. Operating cash flow should expand at or above the top end of that range. That should give NextEra Energy the power to increase its dividend by 10% annually through at least 2026. Add in its higher-yielding dividend, and the company's rising earnings should give it the fuel to produce total returns of at least 9% to 11% annually over the next few years.
Meanwhile, its longer-term growth outlook remains equally compelling. According to multiple forecasts, renewable energy demand in the U.S. will grow at a 13% compound annual rate through 2030. That suggests the country will build more capacity over the next several years (375 GW-450 GW) than it did over the past three decades (235 GW). Given the massive amount of renewable energy capacity needed to decarbonize the U.S. economy, there's still plenty of growth potential beyond that time frame. As a leader in the industry, NextEra should keep capturing opportunities to invest in the sector. That should enable it to expand its earnings at an above-average rate, supporting continued dividend growth.
A powerful wealth creator
NextEra Energy's utility and renewable energy operations generate lots of cash, which it uses to pay dividends and invest in expanding its businesses. Those growth-related investments should increase its cash flow in the future, giving it more money to pay dividends. That growing earnings and income should give it the power to continue producing market-beating total returns.
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>>> AI Is Giving Nuclear Power a Big Lift. 4 Stocks Riding the Trend.
Data centers being built to run AI systems require lots of power. Nuclear power is exceptionally well suited to meeting such enormous demands.
Barron's
by Avi Salzman
March 28, 2024
https://www.barrons.com/articles/ai-nuclear-power-stocks-8852a830
A small set of companies that own nuclear reactors have seen their stocks soar at Nvidia-like rates in the past few months, part of a little-noticed renaissance in an industry that hasn’t had much to brag about in years. They can thank artificial intelligence.
Nuclear power, it turns out, is exceptionally well suited to meeting the enormous electricity demands of data centers for AI. As a result, the stocks of Constellation Energy CEG, Vistra, and Talen Energy are each up more than 90% in the past year. There’s a good chance they’ll go still higher.
“The world clearly is moving in our direction,” said Constellation CEO Joe Dominguez on the company’s latest earnings call.
For years, most of the world was moving in the opposite direction. The fear of nuclear accidents like the 2011 Fukushima disaster is part of the problem. But economics have played a role, too. Operating a nuclear plant has been a terrible business — barely profitable without government subsidies. Generating electricity from nuclear fuel often costs more than generating it from natural gas, because natural-gas prices have fallen during the U.S. shale-drilling revolution. The growth of renewables also complicates life for nuclear power owners. When strong winds gust in Texas, the surge of wind power can cause electricity prices to fall below zero...
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Thanks. Recycling sure seems like an interesting sector, and should grow in importance over time. I know with some of the waste companies like Republic Services, recycling is becoming a really big part of their business. As investors this should be an interesting area to do more research.
At minimum there's going to be a ton of lithium batteries to recycle in coming years, mountains of them, and all packed with highly toxic substances. One good development is that the auto companies are rushing to develop new solid state lithium car batteries, which will solve the severe fire hazards with EVs, as well as eliminating the need for cobalt and other rare and/or toxic materials -
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173494550
>>> Toyota’s Rival In Solid-State EV Development Is A Supplier: Schaeffler
Schaeffler and Honda are already close partners. Wouldn’t all-solid-state make a nifty battery pack for a new Acura NSX?
AutoWeek
by Todd Lassa
DEC 21, 2023
https://www.autoweek.com/news/a46192062/solid-state-ev-battery-development-toyota-schaeffler/
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Here's how shredded wind turbine blades can be used to make cement, and FUEL
>>> Constellation Forecasts Strong Earnings Growth in 2024 and Beyond as Demand and Support for Clean Energy Builds
BusinessWire
February 27, 2024
https://finance.yahoo.com/news/constellation-forecasts-strong-earnings-growth-105500886.html
Initiating full-year Adjusted (Non-GAAP) Operating Earnings per share guidance of $7.23 to $8.03
Nuclear PTC provides earnings visibility and platform for growth
Announcing 25% dividend per share growth, exceeding 10% annual dividend growth target
Started next $1 billion in share repurchases
Targeting long-term base EPS growth of at least 10% through the decade
BALTIMORE, February 27, 2024--(BUSINESS WIRE)--Marking the start of its third year as an independent company, Constellation, the nation’s largest producer of carbon-free energy, will host a virtual investor and analyst event via webcast today to lay out a forecast for earnings growth based on the strength of its industry-leading commercial business and market and policy recognition that nuclear energy is essential to addressing the climate crisis while preserving grid reliability and the nation’s energy security.
"The most valuable commodity in the world today remains clean energy that can be depended on in every hour of every day, and no U.S. company is better positioned to deliver on that promise than Constellation, which has more clean, reliable nuclear capacity than all other U.S. competitive generators combined," said Joe Dominguez, president and CEO of Constellation. "State and federal policies, bipartisan political support, public opinion surveys and increased customer demand for reliable and clean energy all point to strong and growing support for nuclear energy to power our economy for decades to come. Combined with our industry-leading Commercial business that helps our customers achieve their climate goals, we see a growing landscape of opportunities to continue building our business and lead the clean energy transition."
Highlights from the Investor Update
Strong financial outlook with predictable earnings: Constellation initiated guidance for 2024 Adjusted (Non-GAAP) Operating Earnings of $7.23 to $8.03 per share. The Adjusted (Non-GAAP) Operating Earnings guidance excludes the effects of the following from projected GAAP net income:
Unrealized impacts of fair value adjustments
Decommissioning-related activities
Pension and Other Postretirement Employment Benefit (OPEB) non-service credits
Separation costs
Enterprise Resource Program (ERP) system implementation
Other items not directly related to the ongoing operations of the business
Noncontrolling interest related to exclusion items
The nuclear production tax credit (PTC) in the IRA provides a stable foundation for consistent and growing earnings that will allow Constellation to continue investing in growth opportunities, including by adding clean energy generation to its fleet through uprates, repowering wind assets, license extensions and asset acquisitions while also returning capital to shareholders. The PTC provides revenue visibility and also preserves Constellation’s ability to capture upside from tightening power market conditions.
Long-term base EPS growth of at least 10%: Constellation is targeting long-term base earnings per share (EPS) growth of at least 10% through the decade backstopped by the nuclear production tax credit in the Inflation Reduction Act (IRA) and effective deployment of our strong free cash flow generation.
Base earnings, a significant component of total Adjusted (Non-GAAP) Operating Earnings, are consistent, visible earnings that will grow over time and can be modeled using simple price times quantity calculations, such as expected generation volumes times price or customer margins times volumes. The company has opportunities to grow base earnings faster by monetizing the value of the reliable, carbon-free nuclear power generated at its Clean Energy Centers through hourly carbon-free matching solutions, behind-the-meter opportunities like data centers or hydrogen, government clean energy procurements or higher market prices.
Constellation's Assets Are Unmatched
Growth fueled by customer demand: With a customer-facing business that serves three fourths of Fortune 100 companies and 21% of the competitive C&I market, Constellation is well positioned to meet the growing needs of digital infrastructure and other essential industries looking for reliable, carbon-free electricity to power economic growth. U.S. electricity demand is expected to grow twice as fast through 2030 compared with the past decade, while at the same time the grid is growing more dependent on intermittent resources. Major tech companies alone are expected to make significant investments to expand our nation’s digital infrastructure over the next five years, with data centers growing from 2% to 7.5% of U.S. electricity demand by 2030. The nation’s top technology firms have set goals to power this growth with clean and dependable energy. Growing recognition of nuclear energy as a reliable clean energy resource creates opportunities for Constellation to forge new customer relationships and capture additional value from our 180 million MWh of annual clean energy output.
World-class operations are a competitive advantage: Constellation is ranked No. 1 in operational metrics among major nuclear operators, with our clean-energy fleet avoiding the equivalent of 251 million metric tons of carbon dioxide pollution over the past two years. The company’s nuclear fleet achieved a 94.6% capacity factor from 2022-2023, approximately 4% above recent industry average. That additional output compared with industry peers is the equivalent of having another reactor’s worth of power or $335 million in additional annual revenue (pre-tax).
Returning value to shareholders: Constellation announced plans to grow its dividend per share by 25% this year, exceeding the company’s dividend growth target of at least 10% annually. This brings the total dividend increase to 150% in two years. The company completed its first $1 billion stock repurchase plan last year, and in December the board approved an additional $1 billion repurchase with $150 million already executed.
Dividend Declaration: Our Board of Directors has declared a quarterly dividend of $0.3525 per share on our common stock. The dividend is payable on Tuesday, March 19, 2024, to shareholders of record as of 5 p.m. Eastern time on Friday, March 8, 2024.
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>>> Constellation Remains No. 1 Producer of Carbon-Free Energy, New Report Confirms
Business Wire
November 15, 2023
https://finance.yahoo.com/news/constellation-remains-no-1-producer-150000901.html
Annual air emissions report also confirms Constellation’s rate of carbon dioxide emissions is more than four-and-half times lower than that of its next closest peer
BALTIMORE, November 15, 2023--(BUSINESS WIRE)--For the 10th consecutive year, Constellation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and boasts the lowest rate of carbon dioxide emissions among the 20 largest private, investor-owned power producers in the United States, according to an independent analysis based on publicly reported 2021 air emissions data.
With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy.
Released today, the annual Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States report showed that the next cleanest company among the group of 20 had more than four-and-a-half times the rate of carbon dioxide emissions (lbCO2e/MWh) as Constellation. With more than 23,000 megawatts of clean generating capacity, Constellation’s fleet of nuclear, solar, wind and hydro plants produce about 10% of the nation’s carbon-free energy. Nearly 90% of Constellation’s annual energy output comes from carbon-free sources and the company has set a goal to produce 95% carbon-free electricity by 2030 and 100% by 2040.
"After this year of record-shattering weather, it is clear that all industries must move faster to reduce emissions and lay the foundation for our clean energy future," said Joe Dominguez, president and CEO of Constellation. "As we transition to a clean grid, we must ensure the lights stay on in every hour of every day, and nuclear energy is the only clean energy resource that can operate around the clock in all weather extremes. Backed by the unmatched reliability of our nuclear fleet, we are continuously seeking ways to increase our clean generation capacity, while helping customers achieve their own sustainability goals through innovations such as clean hydrogen and hourly carbon-free energy matching."
The emissions report benchmarks key air pollutant emissions -- including nitrogen oxide, sulfur dioxide, carbon dioxide and mercury -- from the 100 largest U.S. power producers. It relies upon publicly reported generation and emissions data from the U.S. Energy Information Administration and the U.S. Environmental Protection Agency and has established a clear record of the sector’s environmental performance.
Per the report, zero-carbon resources were the leading source of power generation in the United States in 2022, providing approximately 41% of the nation’s electricity. Nuclear energy led the way, comprising 44% of that total and 18% of all U.S. generation.
Constellation is investing billions of dollars in projects to lower emissions across the company and for its customers:
Last month, the MachH2 clean hydrogen hub, of which Constellation is a major participant, was selected for up to $1 billion in funding by the Department of Energy as part of the bipartisan Infrastructure Investment and Jobs Act. Constellation will use a portion of the hub funding to build the world’s largest nuclear-powered clean hydrogen production facility at its LaSalle Clean Energy Center in Illinois. The project will produce an estimated 33,450 tons of clean hydrogen each year with the goal of lowering emissions for difficult-to-decarbonize industries such as agriculture and transportation.
This year, Constellation announced plans to invest $800 million in new equipment to increase the capacity of its Braidwood and Byron nuclear plants in Illinois. The company also launched a $350 million wind repowering effort to increase the output and lifespan of its renewable energy portfolio.
Constellation also has introduced an hourly carbon-free energy matching product to help customers like Microsoft and ComEd power their operations with carbon-free energy produced at the same time and place it is consumed.
Last month, Constellation acquired a 44% ownership stake in the South Texas Electric Generating Station (STP), a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. One of the newest and largest plants in the U.S., STP generates enough carbon-free power for two million average homes.
In May, Constellation achieved an industry record for blending high concentrations of hydrogen with natural gas, further proof that hydrogen can be an effective tool to lower greenhouse gas emissions. The test at Constellation’s Hillabee Generating Station showed that with only minor modifications, a 13-year-old existing natural gas plant can safely operate on a blend of 38% hydrogen, nearly doubling the previous blending record for similar generators.
Learn more about Constellation’s efforts to accelerate the transition to a carbon-free future, mitigate the climate crisis and support energy equity and environmental justice in our 2023 Sustainability Report.
About Constellation
A Fortune 200 company headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy.
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>>> Vernova / General Electric Co (NYSE:GE)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/5/
Number of Hedge Fund Investors: 92
With a gigantic green energy arm Vernova, General Electric Co (NYSE:GE) is among the top favorite wind power and solar stocks to buy according to hedge funds. General Electric Co (NYSE:GE) plans to spin off its Vernova unit by April 2024 after which Vernova would be a publicly traded company. Vernova has 55,000 wind turbines and 7,000 gas turbines. General Electric Co (NYSE:GE) says its technology helps generate a whopping 30% of the world’s electricity.
A total of 92 hedge funds tracked by Insider Monkey had stakes in General Electric Co (NYSE:GE) as of the end of the fourth quarter of 2023.
Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:
“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”
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>>> NextEra Energy Inc (NYSE:NEE)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/3/
Number of Hedge Fund Investors: 65
NextEra Energy Inc (NYSE:NEE) produces electricity through wind, solar, nuclear, natural gas, and other clean energy. The stock is making waves after it recently upped its dividend by 10.2%. With close to three decades of consistent dividend increases and a healthy yield of over 3.5%, it is one of the top favorite wind and solar stocks among hedge funds.
A total of 65 hedge funds tracked by Insider Monkey had stakes in NextEra Energy Inc (NYSE:NEE) as of the end of the fourth quarter of 2023.
ClearBridge All Cap Value Strategy made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2023 investor letter:
“Many businesses are threatened by a higher cost of capital, but one where reality has set in, and which also touches many other growth areas of the market, is the utility company NextEra Energy, Inc. (NYSE:NEE). Over the past few years, the company developed into a growth darling thanks to its strong track record in renewable energy development and tailwinds from the global energy transition and incentives in the Inflation Reduction Act. The problem for NextEra, and the transition broadly, is that this transformation is immensely capital intensive and many renewables projects offer lower returns on that capital. This requires high capital expenditures – often resulting in negative free cash flow – to meet the growth and financing needs of companies like NextEra. To help, the company leaned on financial engineering by using a publicly traded limited partnership called NextEra Energy Partners, providing further capacity for its parent to continue its development plans. NEP used layers of its own financial engineering to fund its own negative free cash flow and a large, growing dividend yield that we believe it could not sustain organically. Ultimately, the higher cost of debt from rising rates led NEP to lower its own growth ambitions, driving concerns about whether NextEra can execute on its extensive backlog. As a result, the stock has declined by approximately 30% year to date.”
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>>> Constellation Energy Corp (NASDAQ:CEG)
https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/2/
Number of Hedge Fund Investors: 41
Constellation Energy has several renewable energy projects under its belt. The company operates 27 wind projects across 10 states with a production capacity of 1,400 megawatts of electricity.
As of the end of the fourth quarter of 2023, 41 hedge funds tracked by Insider Monkey had stakes in Constellation Energy.
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>>> Constellation Energy Corporation (CEG) generates and sells electricity in the United States. It operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. The company sells natural gas, energy-related products, and sustainable solutions. It has approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. <<<
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>>> Nextracker Inc (NASDAQ:NXT)
https://finance.yahoo.com/news/12-best-wind-power-solar-162031158.html
Number of Hedge Fund Investors: 33
Nextracker Inc (NASDAQ:NXT) provides integrated solar tracker and software solutions used in utility-scale and ground-mounted solar projects.
Insider Monkey's database of 933 hedge funds updated for the fourth quarter of 2023 shows that 33 hedge funds had stakes in Nextracker Inc (NASDAQ:NXT).
Last month Nextracker Inc (NASDAQ:NXT) posted solid Q4 results and upped its guidance. Adjusted EPS in the period came in at $0.96, beating estimates by $0.47. Revenue in the quarter jumped 38.4% year over year to $710.43 million, beating estimates by $92.94 million.
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>>> Nextracker Inc. (NXT), an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. It also provides monitoring and control software solutions including TrueCapture, a solar boosting power plant, which boost plant performance by correcting for shading and diffuse light conditions; and NX Navigator, a mitigating extreme weather risk navigator which helps to maintain optimum tracker equipment health and availability. The company was founded in 2013 and is headquartered in Fremont, California. <<<
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>>> Enphase Energy Inc (NASDAQ:ENPH)
https://finance.yahoo.com/news/12-best-wind-power-solar-162031158.html
Number of Hedge Fund Investors: 43
Enphase Energy Inc (NASDAQ:ENPH) is in the spotlight after Enphase Energy Inc's (NASDAQ:ENPH) CEO Badri Kothandaraman said the company could begin to see a turnaround in business in the second quarter of 2024. Net income of Enphase Energy Inc (NASDAQ:ENPH) fell to $21 million in the fourth quarter of 2024 from $154 million in the same quarter last year. Here are the comments of the CEO that are causing a renewed hope in the solar sector and lifting many solar stocks:
"We think Q1 could be the bottom quarter. Europe is already showing early signs of recovery, and we expect the non-California states to bounce back quickly.
California is the exception as NEM 3.0 is having some hiccups in the near-term. However, we remain very bullish about NEM 3.0 in the long-term. The payback is very attractive for solar plus storage. The utility rates are going up steeply on an annual basis, and the sales teams are learning fast. We see that the demand is going to eventually bounce back up in California as well. I’ll wrap up outlining our approach during these times. We are laser focused on ease of doing business on both high quality and great customer service. We are doubling down on operational excellence, correcting the channel and factory inventory concentrating on sell-through and installer count reducing our expenses and product costs and maintaining healthy gross margins.
We are getting many new products out and diversifying our portfolio rapidly. We are expanding worldwide with full systems comprising of IQ8 microinverters, IQ batteries, EV chargers and energy management software. We are introducing products with the small commercial solar markets worldwide and making continuous enhancements to our installer platform. In addition, we are innovating on GaN-based IQ9 and 10 microinverters, along with bidirectional EV chargers, our fourth and fifth generation IQ battery and AI-based energy management software to position us well for the long-term."
Read the entire Q4 earnings call transcript here.
In addition to Tesla, Inc. (NASDAQ:TSLA), NextEra Energy Inc (NYSE:NEE) and General Electric Co (NYSE:GE), Enphase is a top renewable energy stock according to hedge funds.
ClearBridge Sustainability Leaders Strategy made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2023 investor letter:
“Against this backdrop the Strategy underperformed, with the majority of detractors renewable- or utility-related companies suffering largely from cyclical interest rate pressures that have pushed up financing costs for the companies and weighed on income-producing sectors such as utilities. Most acutely, higher interest rates have dampened near-term U.S. residential solar demand, hurting Enphase Energy, Inc. (NASDAQ:ENPH) in particular. As a result, we sold Enphase, and invested proceeds into SolarEdge Technologies, which has greater exposure to European and utility-scale end markets, which are under comparatively less pressure.”
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The insanity of 'Carbon Capture' -
>>> This Could Be Warren Buffett's Shrewdest Big Bet Since Making Billions on Apple
by Keith Speights
Motley Fool
February 25, 2024
https://finance.yahoo.com/news/could-warren-buffetts-shrewdest-big-105000230.html
Warren Buffett raised some eyebrows with Berkshire Hathaway's sale of 10 million shares of Apple in the fourth quarter of 2023. I wouldn't read too much into the move, though.
Apple remains by far the largest holding in Berkshire's portfolio. Buffett also almost certainly remains a fan of the company. Less than one year ago, he told Berkshire shareholders that Apple was "a better business than any we own."
Investing in Apple has proven to be a smart decision for Buffett. Since he first bought shares of the tech giant in the first quarter of 2016, Apple's market cap has increased by close to $2.2 trillion.
But now Buffett is aggressively buying another stock. And it could be his shrewdest big bet since making billions of dollars on Apple.
Buffett's big zig
As far as I know, Buffett has never uttered the phrase, "Zig when others zag." However, his famous statement about being "fearful when others are greedy, and greedy when others are fearful" expresses a similar sentiment. The legendary investor is practicing what he preaches with what I'd call a pretty big zig -- buying shares of Occidental Petroleum (NYSE: OXY) hand over fist.
The conventional wisdom is that the demand for fossil fuels will decline, with renewable energy stepping up to take their place. This view could appear to make sense, with countries and corporations around the world setting ambitious goals for reducing carbon emissions. Investing in an oil stock such as Occidental might seem ill-advised in light of the changing dynamics in the energy sector.
Buffett disagrees. He told CNBC in April 2023 that more oil will be produced five years from now than is produced now -- or at least "about the same amount." The Berkshire Hathaway CEO is wagering a lot of money on the proposition that he'll be proven right.
Berkshire now owns a stake in Occidental Petroleum that's worth close to $14.9 billion. Occidental ranks as the sixth-largest position in Berkshire's portfolio (trailing behind another oil and gas producer, Chevron, by the way.)
Occidental's lottery ticket
I suspect that Buffett has never bought a lottery ticket in his life. At Berkshire Hathaway's 2016 shareholder meeting, he referred to buying lottery tickers as "mathematically unsound." But I think that his investment in Occidental comes with something like a lottery ticket, albeit one with arguably much better odds than the Powerball.
Occidental is betting heavily on direct air capture (DAC). What is DAC? In a nutshell, the technology aims to suck carbon dioxide out of the air. The CO2 is then stored underground.
In August 2023, Occidental announced the acquisition of Carbon Engineering for $1.1 billion, a leader in developing DAC technology. The company is also constructing the billion-dollar Stratos plant in the middle of oil fields in West Texas. Once Stratos is operational, it will be the biggest DAC facility ever by a factor of 100x.
Carbon capture could present a massive opportunity. ExxonMobil estimates that it could be a $4 trillion market by 2050. Occidental CEO Vicki Hollub believes DAC, in particular, could give new life to the oil and gas industry. She told National Public Radio in December 2023 that "there's no reason not to produce oil and gas forever" if her vision of DAC is achieved.
Buffett's on board
Buffett appears to be fully on board with Occidental's DAC focus. He praised Hollub in his interview with CNBC last year, saying that she is "extremely competent" and "understands oil" as well as "political realities."
His aggressive buying of Occidental stock will likely continue. Berkshire won regulatory approval in August 2022 to purchase up to 50% of the oil company; its stake currently stands at a little over 28%.
Will Buffett ever like Occidental as much as he does Apple? Probably not. However, his investment in Oxy just might be the Oracle of Omaha's best major bet since initiating a position in Apple eight years ago.
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>>> First Solar stock jumps on earnings beat, strong demand
Yahoo Finance
by Ines Ferré
February 28, 2024
https://finance.yahoo.com/news/first-solar-stock-jumps-on-earnings-beat-strong-demand-164400859.html
The solar industry has struggled this past year amid a pileup of panels and higher interest rates. Yet one outlier has been First Solar (FSLR), the largest US solar module manufacturer.
Shares of the Tempe, Ariz.-based company jumped 6% on Wednesday after posting better-than-expected quarterly earnings and upbeat guidance. The company expects revenue this year to come in between $4.4 billion and $4.6 billion versus analysts' expectations of $4.53 billion.
"Despite industry macro challenges, such as global oversupply and pricing volatility, we continue to see strong mid- to long-term demand, especially in the United States," First Solar CEO Mark Widmar said during the company's earnings call.
The manufacturer caters to the utility sector with customers like NextEra Energy (NEE) and LightSource BP. Those types of contracts typically involve longer lead times than solar peers' residential or commercial agreements.
"Our current backlog, cumulatively oversold through 2026 and with bookings extending to the end of the decade, provides us with optionality in periods of pricing and policy uncertainty," First Solar CFO Alex Bradley said during the call.
"Put simply, if we did not book any more deals by the end of the year, we would remain sold out two years forward through 2025 and 2026," he added.
First Solar has been a major beneficiary of the Inflation Reduction Act, which allows domestic solar manufacturers to sell tax credits to other firms. Last year the company agreed to sell $687 million in tax credits to fintech company Fiserv (FI).
Wall Street analysts are bullish on the stock, with 25 Buy and 7 Hold recommendations. Still, First Solar shares have been dragged down 12% year to date amid an overall sector slump.
Last week, SolarEdge (SEDG) stock sank after the maker of inverters, which convert the energy generated by solar panels, posted weaker-than-expected revenue guidance for the current quarter due to a slowdown in residential demand and increasing inventories. CEO Zvi Lando said during the company's fourth quarter earnings call that he didn't expect significant changes to the market until interest rates decline.
Higher interest rates are impacting the renewable sector because clean energy projects are capital intensive. Installation loans are also more expensive.
To make matters worse, falling valuations are making it harder for companies to tap into public markets to fund their projects.
The Invesco Solar ETF (TAN) is down 18% since the start of the year as headwinds continue across the industry.
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>>> Renewable energy stocks plunge as going green gets 'expensive'
Yahoo Finance
by Ines Ferré
October 8, 2023
https://finance.yahoo.com/news/renewable-energy-stocks-plunge-as-going-green-gets-expensive-160030279.html
Renewable stocks are taking an outsized beating among other stocks in the utility sector, which was down more than 10% last quarter.
Investors may be betting that going green will take longer and require more capital in a higher-for-longer interest rate environment.
“As utilities struggle with converting to more green energy, their operating margins are getting squeezed until they can get their utility rates increased,” Louis Navellier, founder of Navellier, a money management firm, told Yahoo Finance.
Higher interest rates are impacting the renewable sector because clean energy projects are capital intensive.
To make matters worse, falling valuations are making it harder for companies to tap into public markets to fund their projects. Also, bonds offering higher yields are competing against dividend yields on utility stocks.
“There is an exodus from ESG products that are suffering from outflows,” said Navellier.
The Global Clean Energy ETF (ICLN) is down about 30% year to date. The solar and wind energy benchmarks Invesco Solar ETF (TAN) and First Trust Global Wind Energy ETF (FAN) are down 35% and 32% during the same period, respectively.
The selling in renewables intensified after NextEra Energy Partners (NEP), a subsidiary of NextEra Energy (NEE) focused on renewables, cut its growth target by half to 6% through at least 2026.
"Tighter monetary policy and higher interest rates obviously affect the financing needed to grow distributions at 12%," read the company statement on Sept. 27.
NextEra Energy Partners is down 69.27% year to date, on pace for its worst year on record, while its parent company NextEra Energy hit a 52-week low on Friday, down 42% year to date.
Bank of America analysts called the recent sell-off "overblown with collateral damage unfounded."
"Rates have indeed moved higher through the same period and utilities and renewables are rates sensitive," wrote Julien Dumoulin-Smith and Paul Zimbardo in a note to clients.
They continued that "the collapse in confidence in NextEra - the world's largest renewable developer - has precipitated a draconian view for the outlook of renewables as an asset class, and the associated returns."
Some of the biggest solar companies initially rallied after Russia invaded Ukraine in late February 2022 and oil prices spiked. The invasion hastened investments in a push towards green technologies in both Europe and the US as crude and natural gas became more expensive and governments saw a need to rely on other sources of energy.
The Inflation Reduction Act, or IRA, of 2022 was also seen as a boon for renewable energy companies, making clean energy stocks the clear winners of the legislation passed in August 2022. The IRA focuses on tax credits for companies to manufacture items like solar panels and wind turbine parts in the United States. The measure also offers credits of up to $7,500 for electric vehicles assembled domestically.
But some of the federal and local government's recent green initiatives are facing challenges, or scaling back.
Earlier this year policy changes went into effect in California, the largest US solar market. The new measures reduced the money credited to rooftop solar panel owners for sending excess power they generate into the grid.
Analysts note California’s so-called net metering reform has created headwinds for companies like Enphase Energy (ENPH). In April, the solar inverter maker's stock fell 25% in one day following disappointing second quarter revenue guidance amid concerns of slowing demand.
In July the stock took another hit of 11% in one day after Enphase Energy's third quarter guidance came in weaker than expected.
"Our microinverter sell-through in the US peaked in the fourth quarter of 2022," Badri Kothandaraman, CEO of Enphase, said during the company's earnings call. "The sell-through in the first half of 2023, in both Q1 and Q2, was approximately 20% below the fourth quarter due to the high interest rate environment in the US."
The delay of offshore wind farms in the Northeast is seen as another setback for the renewable industry. Six Democratic governors recently sent a letter to the Biden Administration asking for more federal help with the planned projects after wind developers asked to renegotiate contracts amid rising costs, dwindling supply chain issues, and tighter credit.
“Absent intervention, these near-term projects are increasingly at risk of failing,” the governors wrote. “Without federal action, offshore wind deployment in the US is at serious risk of stalling because states’ ratepayers may be unable to absorb these significant new costs alone.”
The governors are asking for the Biden Administration to ensure offshore wind projects are fully eligible for federal clean energy tax credits under the Inflation Reduction Act. They also want the government to expedite clean energy permitting.
“The bottom line is it is expensive to go green,” said the strategist Navellier.
Having said that, as a sector "utility stocks grossly oversold," he said. “We will sort this out during the Q3 earnings announcement season.”
Renewable energy stocks may have gotten so cheap, analysts at BofA say, it may be time to buy.
"We continue to see significant utility scale growth in renewables in the coming years, and do not agree with the collateral damage we saw in the space in the last week; we see particularly attractive buying opportunities," wrote the analysts.
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FSLR, ENPH, CSIQ - >>> 3 Solar Energy Stocks Poised for a Strong Comeback
Investor Place
by Faisal Humayun
Feb 20, 2024
https://finance.yahoo.com/news/3-solar-energy-stocks-poised-180929198.html
Solar energy stocks have been depressed in the last few quarters. This has translated into several stocks trading at a valuation gap. I believe that the correction presents a good buying opportunity with some of the best solar energy stocks poised for a strong comeback.
An important reason for weak numbers from solar companies is macroeconomic headwinds in the U.S. and Europe. Further, with high interest rates, demand for solar projects from retail consumers has been sluggish. However, the key point is that these are near term headwinds.
The long-term outlook for growth in the solar energy sector remains positive. According to the International Energy Agency, approximately 100 million people will rely on rooftop solar energy by 2030. It’s also being estimated and wind and solar will produce over a third of global power by 2030.
Therefore, the current correction in solar energy stocks is a golden opportunity to accumulate. Let’s discuss some of the best stocks to buy for a strong comeback.
Canadian Solar (CSIQ)
From a valuation perspective, Canadian Solar (NASDAQ:CSIQ) is among the most attractive solar energy stocks to buy. At a forward price-to-earnings ratio of 5.7, CSIQ stock seems poised for a big reversal rally.
For Q3 2023, Canadian Solar reported a 39% year-on-year growth in shipments to 8.3GW. However, total revenue declined by 4% to $1.8 billion. It’s worth noting that the company’s subsidiary, Recurrent Energy, is likely to be a key growth driver.
As of Q3, the subsidiary reported a solar development pipeline of 26 GW and battery storage development pipeline of 55 GWh. In January, Recurrent Energy announced a $500 million preferred equity investment commitment from BlackRock. These funds will be utilized towards the high value project development pipeline.
I also like the fact that Canadian Solar has strong global presence in 25 countries. Further, revenue from Asia (excluding China) is just 11% of total revenue. There is ample scope for growth in emerging markets.
First Solar (FSLR)
In the last 12 months, First Solar (NASDAQ:FSLR) stock has remained sideways. As positive business developments continue, I expect a big breakout rally. It’s worth noting that FSLR stock trades at an attractive forward price-to-earnings ratio of 20.1.
An important point to note is that First Solar has cumulatively invested $1.5 billion in research and development. The company claims to be the global leader in thin film PV. Backed by the CadTel PV technology, First Solar’s order book has been swelling.
For Q3 2023, First Solar reported a total booking backlog of 81.8GW through 2030. Further, the company has potential booking opportunities of 65.9GW. With healthy order intake, the revenue visibility remains robust.
The company is investing in multiple factories that will enable it to service the backlog. First Solar has guided for a global annual nameplate manufacturing capacity of over 21 gigawatts (GW) by 2026. With investment in innovation coupled with manufacturing expansion, the is positive for this solar energy stock.
Enphase Energy (ENPH)
There seems to be signs of Enphase Energy (NASDAQ:ENPH) stock bottoming out. In the last six months, the stock has remained sideways. However, it’s likely that the stock will trend higher after an extended bearish price action.
As an overview, Enphase is a provider of microinverter-based solar-plus-storage systems. The company has already shipped 73 million microinverters globally. The IQ8 is the world’s first grid-forming microinverter for the residential markets.
The company has also launched an IQ EV charger that integrates into Enphase’s solar and battery system. With innovative products and over 400 patents globally, Enphase is positioned for sustained growth. The company believes that the serviceable addressable market is likely to be $23 billion by 2025, which provides ample headroom for growth.
It’s worth noting that as of Q4 2023, Enphase reported $1.7 billion in cash and equivalents. Further, the company reported operating cash flow of $697 million for 2023. Financial flexibility is therefore high for investment in expansion and R&D.
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>>> NextEra Energy is a growth and income gem
https://finance.yahoo.com/news/3-utility-stocks-buy-hand-101100971.html
NextEra Energy's 3.7% dividend yield is modest compared to the other two utilities on this list. In fact, it is only 10 basis points above the average of the broader utility sector. But the yield is near a 10-year high for NextEra Energy, suggesting the stock is cheap today.
However, the real linchpin in the story is the average annualized dividend growth of around 10% over the past decade, extremely high by utility standards. Management expects to raise the dividend by that much again in 2024.
The story here comes in two parts. First, NextEra Energy owns the largest utility in Florida, which is a state with a growing population. That's the solid foundation. On top of that, NextEra Energy owns one of the world's largest portfolios of solar and wind power assets. This is a growth business, with management hoping to double its clean energy capacity by 2026.
The combination of these two businesses is expected to produce earnings growth of between 6% and 8% a year through 2026. Even if dividend growth only tracks along with earnings growth after 2024, that's still a great outcome for a growth- and income-oriented utility. Investors should look at this stock, which has increased its dividend annually for nearly three decades and is still on sale.
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>>> Hyliion Holdings Reports Fourth-Quarter and Full-Year 2023 Financial Results
Business Wire
Feb 13, 2024
https://finance.yahoo.com/news/hyliion-holdings-reports-fourth-quarter-213000641.html
AUSTIN, Texas, February 13, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today reported its fourth-quarter and full-year 2023 financial results.
Key Business Highlights
Announced today, the KARNOTM generator is expected to qualify for up to a 40% tax credit under the Inflation Reduction Act’s Infrastructure Tax Credit (ITC)
Announced today, Detmar Logistics executed a letter of intent for an initial KARNO unit to be deployed in the Permian Basin to operate on waste flare gas
Executed a letter of intent to provide KARNO generators to GTL Leasing
Confirmed plans to deliver initial KARNO generator units to customers in late 2024
Began printing production-intent design components of the KARNO generator
Successfully tested KARNO reactor technology on unprocessed Permian Basin gas; results surpassed emissions standards by 98% for CO and 76% for NOx
Appointed Govindaraj Ramasamy as Chief Commercial Officer
Announced $20 million Stock Repurchase Program
Ended the year with $291 million of total cash and investments
Guidance of $40 to $50 million cash expenditures for KARNO development in 2024
Executive Commentary
"I’m pleased to report that the company’s strategic shift to wind down powertrain operations and focus on our KARNO generator is on track, with significant achievements made in advancing our generator technology and engaging prospective customers during the quarter," said Hyliion’s Founder and CEO, Thomas Healy. "We expect to deliver the initial KARNO generator deployment units with customers late in 2024 followed by a ramp-up in production and additional deliveries in 2025."
KARNO Commercial Updates
Today, the company announced that, under the Inflation Reduction Act, the KARNO generator is expected to be characterized the same as a fuel cell, enabling customers to qualify for up to a 40% tax credit under the current ITC.
Hyliion is addressing the commercial power market first with a locally-deployable 200kW generating system which it intends to deliver to initial deployment customers in late 2024. To lead these efforts, Hyliion recently hired former Cummins powergen executive, Govi Ramasamy, as Chief Commercial Officer.
Hyliion also announced today that Detmar Logistics has executed a non-binding letter of intent for a KARNO generator and to be part of Hyliion’s early adopter program. Detmar, who supplied Hyliion with test gas from the Permian Basin, intends to operate their unit on waste flare gas to produce electricity at oil & gas sites, without the need for pre-treating the gas.
In addition to Detmar, Hyliion also announced a non-binding letter of intent with GTL Leasing to deliver two KARNO generators for their portable electric vehicle recharging business. Other customers’ letters of intent are in place or being finalized to represent the remaining planned deployments in 2024 and initial deliveries in 2025. Hyliion plans for initial deployments to represent a broad range of applications, including vehicle charging, waste gas fuel sourcing, and prime power generation.
KARNO Generator Development
Hyliion is developing a revolutionary new electrical generator powered by a linear heat motor that is expected to deliver step-change improvements in performance characteristics compared to conventional generating systems, including efficiency, emissions, maintenance requirements, noise levels and fuel flexibility. The KARNO generator is enabled by the latest advances in additive manufacturing technology. Hyliion hosted a Technology Fireside Chat in December 2023 during which Thomas Healy and Josh Mook, Chief Technology Officer, explained the capabilities and advantages of the generator.
Recent technological advancements include beginning to print production-intent design parts of the BETA design of the KARNO generator. The BETA generator design will go through validation throughout 2024 and then is expected to be ready for customer deployments later this year.
The company also tested unprocessed flare gas that was collected from the Permian Basin and confirmed the ability for the KARNO reactor to operate on this fuel, showcasing the fuel agnostic characteristics of the generator. Recent test results on this fuel highlight that the KARNO’s flameless oxidation process is expected to surpass current EPA Tier 4 emissions standards by 98% for CO and 76% for NOx with no additional aftertreatment or catalyst needed.
Powertrain Wind-Down
In November 2023, Hyliion announced that it was winding down its powertrain business segment to maintain the company’s strong cash position as it furthers development of the KARNO generator technology. The company intends to retain the powertrain technology, enabling it to explore future use or sale of the technology and tangible assets. Most wind-down activities are expected to be completed in the first quarter of 2024 while efforts to monetize powertrain assets and technology continue.
Financial Highlights and Guidance
Fourth quarter operating expenses totaled $32.6 million, compared to $31.6 million in the prior-year quarter as the company initiated powertrain wind-down actions. Fourth quarter expenses include $11.5 million of charges directly related to the wind-down, including employee severance, contract cancellation costs, and accelerated depreciation of assets.
Full-year expenses totaled $136.3 million, compared to $152.4 million for the full year in 2022. Expenses in 2022 include $28.8 million of one-time charges associated with the purchase of KARNO generator technology from GE. Cash expenditures for 2023 were $131 million, including net losses and capital investments. The company ended the year with $291 million in unrestricted cash, and short-term and long-term investments.
For 2024, total cash consumed by the KARNO generator business is expected to be between $40 and $50 million, down compared to $131 million in capital consumed by the company in 2023. This estimate excludes cash payments associated with the stock repurchase program, payments associated with the ongoing wind-down of powertrain operations, and cash generated from the sale of powertrain assets and technology. Hyliion expects to achieve commercialization of the KARNO generator with the capital on hand.
Projections for 2025 include growth of KARNO generator deliveries with proceeds from sales in the low double-digit millions of dollars. The company also projects gross margins to be approximately break-even or slightly negative and cash spending to grow modestly compared to 2024.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, OH, Hyliion is addressing the commercial space first with a locally-deployable generator that can offer prime power, peak shaving, and renewables matching. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy.
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>>> Nextracker Inc. (NXT), an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. It also provides monitoring and control software solutions including TrueCapture, a solar boosting power plant, which boost plant performance by correcting for shading and diffuse light conditions; and NX Navigator, a mitigating extreme weather risk navigator which helps to maintain optimum tracker equipment health and availability. The company was founded in 2013 and is headquartered in Fremont, California.
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>>> First Solar, Inc. (FSLR) provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.
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>>> Enphase Energy, Inc. (ENPH), together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It also provides microinverter units and related accessories, an IQ gateway; IQ batteries; the cloud-based Enlighten monitoring service; storage solutions; and electric vehicle charging solutions, as well as design, proposal, permitting, and lead generation services. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.
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>>> The world’s appetite for solar panels is squeezing silver supply
Bloomberg News
July 3, 2023
https://www.mining.com/web/the-worlds-appetite-for-solar-panels-is-squeezing-silver-supply/
Changes to solar panel technology are accelerating demand for silver, a phenomenon that’s widening a supply deficit for the metal with little additional mine production on the horizon.
Silver, in paste form, provides a conductive layer on the front and the back of silicon solar cells. But the industry is now beginning to make more efficient versions of cells that use a lot more of the metal, which is set to boost already-increasing consumption.
Solar is still a fairly small part of overall silver demand, but it’s growing. It’s forecast to make up 14% of consumption this year, up from around 5% in 2014, according to a report from The Silver Institute, an industry association. Much of the growth is coming from China, which is on track to install more panels this year than the entire total in the US.
Solar is a “great example of how inelastic demand for silver is,” said Gregor Gregersen, founder of Singapore-based dealer Silver Bullion. The solar industry has evolved to become much more efficient with using smaller amounts of silver, but that’s now changing, he said.
The standard passivated emitter and rear contact cell will likely be overtaken in the next two to three years by tunnel oxide passivated contact and heterojunction structures, according to BloombergNEF. While PERC cells need about 10 milligrams of silver per watt, TOPCon cells require 13 milligrams and heterojunction 22 milligrams.
At the same time, supply is starting to look tight. It was flat last year, even as demand rose by nearly a fifth, figures from The Silver Institute show. This year, production is forecast to increase by 2% while industrial consumption climbs 4%.
The trouble for silver buyers is that cranking up supply is far from easy, given the rarity of primary mines. About 80% of supply of the metal comes from lead, zinc, copper and gold projects, with silver a by-product.
And in an environment where miners are already reluctant to commit to large new projects, lower margins in silver compared with other precious and industrial metals mean positive price signals aren’t enough to crank up output. Even newly approved projects could be a decade away from production.
The result is a strain on supply so significant that a study from the University of New South Wales forecasts the solar sector could exhaust between 85–98% of global silver reserves by 2050. The volumes of silver used per cell will increase and it could take about five to 10 years to bring them back to current levels, according to Brett Hallam, one of the authors of the paper.
Chinese solar companies, however, are actively exploring using cheaper alternatives like electroplated copper, though so far results have been mixed. Technologies that use cheaper metals are now sufficiently advanced, and will soon be put into mass production once silver prices surge, according to Zhong Baoshen, chairman of Longi Green Energy Technology Co., the world’s biggest panel manufacturer.
Silver is currently trading at about $22.70 an ounce. It’s dropped around 5% this year, but is well above where it was before surging in 2020 as the pandemic buoyed demand.
“Substitution will look more interesting when silver’s at say $30 an ounce as opposed to $22 to $23,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. and one of the authors of the silver institute report. There won’t be a “doomsday scenario” where we run out of silver, but “the market will restore an equilibrium at a higher price,” he said.
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NextEra Energy - >>> 2 No-Brainer Utility Stocks to Buy With $500 Right Now
by Reuben Brewer
Motley Fool
February 22, 2024
https://finance.yahoo.com/news/2-no-brainer-utility-stocks-102000724.html
Building and maintaining power plants is expensive, which is why utilities often carry a lot of debt. That's been a problem on Wall Street because investors are worried that the swift rise in interest rates will dent utility earnings. Thus, the utility sector has been out of favor. That's great news for long-term investors, even if all you have to invest is $500, because you can buy great companies at reasonable -- if not cheap -- prices.
The list includes utility giant NextEra Energy (NYSE: NEE) and relatively small Black Hills (NYSE: BKH), which happens to be a Dividend King. Here's what you need to know about these two utility stocks.
NextEra is a 2-in-1 play
The core of NextEra Energy's business is Florida Power & Light, the largest electric utility in the Sunshine State. This has been a very good region in which to operate because of the long-term migration patterns toward warmer climates, which has resulted in an increased customer base. Simply put, more customers means more revenue.
However, the really interesting story here isn't the company's regulated electric utility operations. What sets NextEra apart from its peers is its massive clean energy business, which is among the largest in the world. This has been a long-term growth engine. That shows up most compellingly in the dividend, which has been increased at an annualized rate of 10% for a decade. Half of that rate would be considered very good for a utility. The company expects 10% dividend growth in 2024 and continued solid earnings expansion through at least 2026.
The problem with NextEra is that investors are well aware that its mix of regulated assets and clean energy growth is producing strong results. The shares are usually afforded a premium valuation. But given the rise in interest rates, NextEra's stock has pulled back. The 3.6% dividend yield on offer today is only average for a utility, but it is near the highest levels of the past decade for NextEra Energy. In other words, this strong performer looks like it is on sale.
There's another impressive thing about the $117 billion market cap of NextEra Energy: It has increased its dividend annually for 29 consecutive years.
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>>> Genie Energy Ltd. (GNE), through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities. Genie Energy Ltd. was incorporated in 2011 and is headquartered in Newark, New Jersey.
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https://finance.yahoo.com/quote/GNE/profile?p=GNE
>>> Genie Energy Ltd. is an American energy company headquartered in Newark, New Jersey. It is a holding company comprising Genie Retail Energy, Genie Retail Energy International, Genie Energy Services, and Genie Energy Oil and Gas. Michael Stein is the Chief Executive Officer, Genie Energy Ltd.[2]
In 2004, seeking to diversify, IDT Telecom’s Founder, Chairman and CEO, Howard Jonas, launched its first Retail Energy Provider or “REP” and enrolled its first energy supply customers. Then, in October, 2011, Genie Energy Ltd. (NYSE:GNE), was spun-off from IDT Corporation as an independent public company, at which point Class B common stock of Genie Energy Ltd. began trading on the NYSE under the ticker symbol "GNE".
Genie's founder and chairman is Howard Jonas. Michael Stein is the company's Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy. Avi Goldin serves as the company's CFO.
The president of its Israeli subsidiary is Effie Eitam. Genie Energy's Strategic advisory board is composed of: Dick Cheney since 2009 (former vice president of the United States),[3] Rupert Murdoch (media mogul and chairman of News Corp), James Woolsey (former CIA director), Larry Summers (former head of the US Treasury), Bill Richardson (former Governor of New Mexico, ex-ambassador to the United Nations and United States Energy Secretary),[4] Michael Steinhardt, Jacob Rothschild,[5][4] and Mary Landrieu, former United States Senator from Louisiana.
In 2013, IDT Energy, Inc., a subsidiary of Genie Energy, acquired both Dallas-based Diversegy, LLC a commercial energy advisory and its network marketing channel, Epiq Energy. They are now wholly owned subsidiaries of Genie Energy Ltd.[6]
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https://en.wikipedia.org/wiki/Genie_Energy
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If the BYD goes for $11 K, that would be less than 1/2 of what a Corolla cost several years ago ($22,500 range). Sounds great :o)
In spite of these smaller cars, one area where size keeps increasing is with pick-up trucks. These have gotten crazy big, but most still can't carry a 4' x 8' sheet of drywall -
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Cars in my 76 year lifetime have really been downsized. I look at a Toyota Rav 4 parked in my condo garage as a big car. When they came out, they seemed small compared to the full sized SUV's. Heck, my 76 Pontiac Grand Prix had a front end than was almost as long as the cab and trunk combined. With the added weight of SUV's, my guess they will get smaller and BYD's seem smaller. Can I visualize cars in the futures not much bigger than golf carts?
BYD Seagull>>>>>>>
https://www.bing.com/videos/riverview/relatedvideo?q=BYD%20cars%20are%20smaller&mid=26B29B9A2B2FD6FA5E9026B29B9A2B2FD6FA5E90&ajaxhist=0
>>> 22 countries want to triple nuclear power. Is there enough uranium to go around?
Yahoo Finance
by Ines Ferré
January 28, 2024
https://finance.yahoo.com/news/22-countries-want-to-triple-nuclear-power-is-there-enough-uranium-to-go-around-180010715.html
Uranium has been hot this year, industry experts say. The trouble is there may not be enough to go around.
The squeeze on the metal, found in rocks and seawater, intensified recently after 22 countries, including the US, recently signed a pact at the UN Climate Change conference to triple their nuclear power capacity by 2050.
"There’s no other way to meet those net-zero carbon goals other than nuclear energy," said Nicole Galloway Warland, managing director of Thor Energy (THORF), an exploration company with projects in Utah and Colorado.
The backdrop to all this is, of course, is the march towards cleaner energy. But the rise of EVs and the anticipated power demands of artificial intelligence computing are also going to create a demand crunch for clean electricity — and nuclear is seen as a power source, unlike oil or coal, without the downside of carbon dioxide emissions.
That means the demand for uranium, the underlying fuel for nuclear plants, will be on the rise for years to come, experts and miners contend.
"Where is that uranium going to come from?," asked Galloway Warland. "There’s not enough to go around. There’s a supply deficit."
Earlier this month, the world's largest uranium miner, Kazatomprom (KAP.IL), warned it will likely not meet its production targets in the next two years because of mine construction delays and a lack of sulfuric acid needed for uranium production. Uranium prices shot up to 2007 levels this month, sitting above $106 per pound.
Uranium-related stocks have also been on fire.
Shares of Canadian giant Cameco (CCJ) have gained 83% over the past year. Kazatomprom, which trades on the London stock exchange, is up more than 60% over the past six months. Shares of US-based Energy Fuels (UUUU) are up about 25% during the same period.
'Uranium is becoming a household name'
A psychological shift surrounding nuclear is clearly helping fuel the market frenzy.
Nuclear power has been out of favor for years. But the Fukushima, Japan, nuclear disaster in 2011 prompted governments to scale back plans and shut down reactors. For much of the last decade, little investment went into the industry. Climate change, however, has changed attitudes.
"Nuclear power now has been realized as the new, vogue way of providing all this baseline power," Duane Parnham, executive chairman and CEO of Madison Metals (GREN.CN), told Yahoo Finance.
"Uranium is becoming a household name," he added.
Silicon Valley celeb billionaires, for example, have talked up the benefits of nuclear energy. Last year Sam Altman, the chief executive behind ChatGPT, announced his special purpose acquisition company would take nuclear energy startup Oklo public. And, of course, Tesla (TSLA) CEO Elon Musk weighed in. He tweeted last year that "The world should increase use of nuclear power!"
In the United States, the shortage is complicated by the fact that much of our uranium is imported from Russia. That's prompted the Biden Administration to seek more supply internally, and from US-friendly states such as Canada, the second-largest producer.
"The US has extensive in-ground uranium resources and quite a bit of idled processing capacity. But we have let our industry and infrastructure atrophy over the past few decades, as nuclear utilities bought cheaper uranium from places like Russia and Kazakhstan," Curtis Moore, senior vice president of marketing at Energy Fuels, told Yahoo Finance.
Now the US is playing catch-up. New uranium mines can take five to 15 years from start to finish, including permits, says Thor Energy's Galloway Warland.
"All of a sudden you’ve got no exploration, you’ve got a lot of old mines coming to the end of their life, you've got geopolitical tensions," said Galloway Warland. "We need to have more exploration, we need more mines coming online."
The Inflation Reduction Act (IRA) passed last year includes a tax credit to help preserve the existing fleet of nuclear plants and tax incentives for advanced reactors. But the IRA also earmarked $700 million to support the development of a domestic supply chain for high-assay low-enriched uranium, commonly referred to as HALEU. The funding is intended to help eliminate US dependence on Russia for nuclear fuel supply.
As for investors, the question is always whether a spike in demand is a big yellow caution flag.
Said Curtis of Energy Fuels: "Prices have skyrocketed, but we don’t think it is a bubble, as the price increases are based on real market fundamentals." He added, "We are likely in the beginning of a multiyear period of elevated uranium prices that will persist for several years until large mines around the world can get into production."
However, some industry watchers are more cautious.
"We’re in a little bit in a bubble in the sense that making this commitment to build this capacity is not realistic. It’s aspirational, but not everybody who signs up to this agreement is well situated to make this happen," said Irina Tsukerman, president of market research and geopolitical risk advisory Scarab Rising.
"It’s possible that there could be disruptions to this process of nuclearization in the future. All it takes is one government changing its position and pulling out, and that’s it," she said.
Bubble or no bubble, the US and other countries are going full force into nuclear. Uranium is expected to stay in high demand, at least until supply catches up.
"We’ve got 60 reactors being built around the world. A hundred more being permitted," Dave Nadig, VettaFi financial futurist, recently told Yahoo Finance. "It’s really going to be a boom era."
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>>> TEPCO's operational ban is lifted, putting it one step closer to restarting reactors in Niigata
Associated Press
by MARI YAMAGUCHI
12-27-23
https://www.msn.com/en-us/news/world/tepco-s-operational-ban-is-lifted-putting-it-one-step-closer-to-restarting-reactors-in-niigata/ar-AA1m5dNP?OCID=ansmsnnews11
TOKYO (AP) — Japanese nuclear safety regulators lifted an operational ban Wednesday imposed on a nuclear plant owned by Tokyo Electric Power Company Holdings, the operator behind the Fukushima plant that ended in disaster, allowing the company to resume preparations for restarting the Kashiwazaki-Kariwa plant after more than 10 years.
At its weekly meeting, the Nuclear Regulation Authority formally lifted the more than two-year ban imposed on the TEPCO's Kashiwazaki-Kariwa plant over its lax safety measures at the site, saying a series of inspections and meetings with company officials has shown sufficient improvement. The decision removes an order that prohibited TEPCO from transporting new fuel into the plant or placing it into reactors, a necessary step for restarting Kashiwazaki-Kariwa's reactors.
The plant on Japan's northern coast of Niigata is TEPCO's only workable nuclear power plant since the March 2011 earthquake and tsunami destroyed its Fukushima Daiichi plant and caused Fukushima Daini plant to cease operations. For the company now burdened with the growing cost of decommissioning the Fukushima Daiichi plant and compensating disaster-hit residents, restarting the Kashiwazaki-Kariwa reactors soon is key to stabilizing its business.
TEPCO President Tomoaki Kobayakawa told reporters Wednesday that it was too early to comment on the prospect for the restart. He said the company will provide its safety and security measures to gain understanding from the local residents, who must approve a restart.
The NRA slapped an unprecedented ban on the operator in April 2021 after revelations of a series of sloppy anti-terrorism measures at TEPCO's Kashiwazaki-Kariwa plant, the world's largest nuclear power complex housing seven reactors.
The Kashiwazaki-Kariwa plant was partially damaged in a 2007 earthquake, causing safety concerns and distrust among local municipalities. The March 2011 disaster caused stoppages of all 54 reactors Japan used to have before the Fukushima disaster, and prompted utility operators to shut many of them down due to additional safety costs, bringing the number of usable reactors to 33 today. Twelve reactors have been restarted under tougher safety standards, and the government wants to bring more than 20 others back online — a goal widely considered overly ambitious.
TEPCO was making final preparations to restart the Kashiwazaki-Kariwa plant’s No. 6 and No. 7 reactors after regulators granted safety approvals for them in 2017. But in 2021, regulators gave the plant’s nuclear security a “red” rating, the lowest given to any operator, resulting in the operational ban.
The case raised questions about whether TEPCO learned any lessons from the 2011 Fukushima crisis, which was largely attributed to the utility’s lack of concern about safety.
NRA Chair Shinsuke Yamanaka told Wednesday’s meeting that the lifting of the restrictions is just the beginning, and TEPCO is still required to keep improving its safety precautions.
“TEPCO is a unique company; in a way it had caused the accident," Yamanaka said. “It is the operator's responsibility to keep improving, and our task is to watch if improvement is adequately carried out." He said he hoped TEPCO will be an open and transparent company capable of sufficient communication across the workplace, while also accomplishing Fukushima Daiichi's cleanup.
Before TEPCO can restart the reactors, it needs the consent of nearby residents. Prior to the NRA decision Wednesday, Niigata Gov. Hideyo Hanazumi told reporters that the will of the voters he represents must be taken into consideration.
The Japanese government recently began a push to restart as many reactors as possible to maximize nuclear energy and meet decarbonization targets. Prime Minister Fumio Kishida’s government has reversed Japan’s nuclear energy phaseout plan, instead looking to use atomic power as key energy supply accounting to more than one-fifth of the country’s energy supply.
A restart of Kashiwazaki-Kariwa plant, along with attempts by other utility operators to resume their reactors, would “contribute to Japan's stable energy supply and its pursuit of carbon neutrality,” especially when the energy-scarce country is hit by rising energy costs amid Russia's war on Ukraine, Kobayakawa said. “Of course, safety is the prerequisite.”
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>> TSLA <<
Musk has been under intense criticism ever since he acquired Twitter and ended the censorship of conservatives on the site.. They (Deep State) can no longer allow freedom of speech, but are also reliant upon Musk for his Space-X launch system, so that puts a limit on how much they can coerce him, at least for now.
I remember back in the 1990s when the Internet was just beginning, Bill Gates was reluctant to allow an NSA 'backdoor' in his Windows operating system. So they (Deep State) launched a big anti-trust lawsuit against him, since the Windows Explorer browser had a monopoly. Gates quickly caved and allowed the NSA backdoor. Andy Grove of Intel was more pragmatic, and went along with a microprocessor 'backdoor' without a fight. Others like Google's Page and Brin were Deep State stooges from the start. So one way or another the Deep State always wins, as Musk will discover.
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More on TSLA’s dishonesty (Reuters):
h/t Dew Dilignece
https://www.reuters.com/investigates/special-report/tesla-musk-steering-suspension/
Electric vehicles --> I would never buy one until the battery technology improves A LOT (see video below). I would forget about EVs for now, unless you enjoy getting incinerated in a car fire, or having your house incinerated. The new solid state batteries can fix the fire / explosion problem, but not sure when or if these will be widely adopted -
>>> A solid-state battery has higher energy density than a Li-ion battery that uses liquid electrolyte solution. It doesn’t have a risk of explosion or fire, so there is no need to have components for safety, thus saving more space. Then we have more space to put more active materials which increase battery capacity in the battery. A solid-state battery can increase energy density per unit area since only a small number of batteries are needed. For that reason, a solid-state battery is perfect to make an EV battery system of module and pack, which needs high capacity.
https://www.samsungsdi.com/column/technology/detail/56462.html?listType=gallery#:~:text=A%20solid%2Dstate%20battery%20has,safety%2C%20thus%20saving%20more%20space.
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2024 Buick Electra EV, $60,000 and 300 mile range, they did not offer range info for Minnesota winters.
Impressive photo, but not made for the "Blue" crime infested cities?
No thank you.
https://www.consumerreports.org/cars/hybrids-evs/buick-to-go-all-electric-first-car-launches-in-2024-a1189128319/
>>> Solar stocks poised for comeback in 2024
Yahoo Finance
by Ines Ferré
Dec 8, 2023
https://finance.yahoo.com/news/solar-stocks-poised-for-comeback-in-2024-193803917.html
Solar stocks have gotten decimated this year amid high interest rates spurred by the Federal Reserve to tame inflation. Customers have been reluctant to spend on installations, and companies' investment projects have gotten more expensive.
A policy change that lowered solar energy incentives in California also impacted the industry in the US. The state slashed the subsidy awarded to rooftop panel owners sending excess power to the grid.
The solar and wind energy benchmarks Invesco Solar ETF (TAN) is down 36% year to date, and Global X Solar ETF (RAYS) has lost more than 40% during the same period.
However, Wall Street sees tailwinds next year that could help turn the tide for the clean energy industry.
On Friday Morgan Stanley analysts upgraded First Solar (FSLR), a solar panel maker, to Overweight, raising their price target from $214 to $237 per share.
“After the 20% sell-off in the past three months, we see an attractive risk-reward profile for the stock,” Morgan Stanley equity analyst Andrew Percoco and his team wrote in a note to clients this week.
“We believe First Solar offers one of the strongest risk-adjusted earnings profiles within our US Clean Tech coverage with its sold-out position through 2026,” they added, referring to the thin-film module manufacturer's backlog.
The note also reiterated renewable energy giant NextEra (NEE) and solar company Altus Power (AMPS) as names on their high conviction Overweight list. The analysts have a $76 price target on NextEra and $9 price target on Altus Power. Year to date, those stocks are down 29% and 17%, respectively.
'Improvement in clean energy valuations'
One of the tailwinds for renewables going into 2024 is the market expectation of lower interest rates at some point during the year. Investors are betting the Fed can start to cut rates as inflation eases and the labor market normalizes.
“If rates fall in 2024, as our economists and strategists are predicting, we could see a meaningful improvement in clean energy valuations,” wrote Morgan Stanley's analysts.
The prices of solar panels, battery storage, and inverters, which increased over the last couple of years, are also showing signs of deflation ahead.
“We see some evidence that supports a more optimistic view (for developers) of the cost trend for these technologies moving into 2024,” said the note. “Prices for solar panels and components have declined meaningfully since peak levels in the summer of 2023.”
Citi analysts also recently noted the global solar space is dominated by equipment manufactured in China, but US companies are poised to increase market share next year.
“With rising importance of emission cuts and opportunities from solar equipment production, more countries are implementing trade policy protectionism to ensure local supply," Citi managing director Pierre Lau and his team wrote in a note to clients.
An example is the Inflation Reduction Act (IRA) passed last year, aimed at incentivizing the use of solar power via subsidy support for local manufacturing.
"Our analysis shows that outside of China, the US and India appear the most feasible for solar equipment production,” said the note.
Citi’s Buy recommendations include Altus Power and solar and storage company SunPower (SPWR), which is currently down about 70% year to date.
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>>> Green Stock Selloff Deepens as Tesla Sentiment Sours
Bloomberg
by Greg Ritchie and Saijel Kishan
November 27, 2023
https://finance.yahoo.com/news/green-stock-selloff-deepens-tesla-010001246.html
(Bloomberg) -- The selloff that’s ripped through green stocks looks set to continue into 2024, bringing a fourth consecutive year of losses, according to Bloomberg’s latest Markets Live Pulse survey.
The negative sentiment appears poised to engulf a wider array of green asset classes, with Tesla Inc. seen at risk of losing its place among the 10 biggest stocks in the S&P 500. Almost two-thirds of the 620 MLIV Pulse respondents said they plan to stay away from the electric-vehicle sector, and 57% expect the iShares Global Clean Energy exchange-traded fund — which is down about 30% this year — to extend its slide in 2024.
The gloomy outlook comes as green investors navigate the shock of a post-pandemic world shaped by much higher interest rates. And, there’s also the persistent political backlash in many US states, as well as an evolving regulatory backdrop that has the potential to expose greenwashing and further hurt valuations.
Chat Reynders, who’s been a sustainable investor for three decades, calls the downturn in green assets a “watershed moment” for the industry. The hype that had surrounded going green to help address climate change has led some investors to take their eye off traditional financial metrics such as supply, demand and balance sheets, he said.
“We’ll look back and say this was an era of extraordinary speculation,” said Reynders, who helps oversee about $3.5 billion as co-founder of Reynders, McVeigh Capital Management in Boston. “Whether there was a meme stock or a green stock, everyone was marketing and selling extremely hard.”
Though MLIV Pulse respondents are broadly united in their bleak view of green stocks in the near term, the picture is different when the time horizon is extended. Most respondents expect they’ll need to shield portfolios from climate risk in the coming years.
Garvin Jabusch of Green Alpha Advisors in Louisville, Colorado, said the current selloff represents “a temporary pivot of capital away from renewables.” Brent Newcomb, president of Ecofin, which manages about $2 billion out of London and Kansas City, said he sees the market downturn as a buying opportunity and he’s adding to his positions in utility stocks.
And Bill Green of Climate Adaptive Infrastructure from Mill Valley, California, said it’s “a red herring” to look at the value of publicly traded solar or wind stocks and conclude that the energy transition has stalled.
“Public markets are notoriously fickle and have, in our view, overreacted to rising interest rates and supply chain challenges,” he said.
In the MLIV Pulse survey, 38% of respondents said miners of critical minerals ranked as the best investment option among climate-related offerings. But timing the upturn is proving hard.
Investors targeting environmental, social and governance goals had hoped this year would produce a rally thanks to historic levels of support in the form of packages such as the US Inflation Reduction Act. Instead, decades-high inflation and soaring interest rates ended up hammering a lot of traditional ESG stocks, with wind and solar standing out as some of the biggest losers.
A lot of clean energy companies are capital intensive, which makes them more vulnerable to higher borrowing costs than oil and gas companies with well-established rigs and platforms. To make matters worse, wind and solar producers have been hit by project delays exacerbated by supply-chain bottlenecks, derailing plans and increasing costs.
The next green asset class expected to see a decline is EVs, as battery-powered cars remain too costly for many households struggling with the long-term fallout of inflation. Tesla shares soared almost 140% this year through a July peak, but have since dropped about 20%.
Two years ago, Tesla was valued at $1.2 trillion, briefly making it the fifth-largest company on the S&P 500. Its market value has since fallen below $800 billion, ranking it the eighth largest in the benchmark index. Almost 50% of MLIV Pulse respondents expect it to drop out of the top 10 next year. Tesla investors are also figuring out how to respond to a chief executive who regularly shocks markets with highly controversial social media outbursts.
Yet the pace of climate change is forcing an inevitable pivot toward greener technologies, necessitating more investment.
“Next year is an important one for the implementation and renewal of decarbonization targets, as Paris Accord decarbonization efforts require additional, front-loaded, net investments,” according to Barclays Plc analysts led by Maggie O’Neal. “With 2023 appearing likely to be the warmest year on record, and 2024 potentially being similarly hot, adaptation and decarbonization will remain in focus.”
Against that backdrop, two-thirds of MLIV Pulse respondents expect climate change to affect portfolio values over the next three years. That echoes previous, similar surveys, with a Bloomberg Intelligence poll published earlier this month finding that 89% of investors acknowledge that ESG metrics are here to stay. And a poll of mostly US-based Bloomberg terminal users released in August found that about two-thirds said ESG is too important to ignore, even though they dislike the label.
O’Neal at Barclays also notes that the political backdrop remains key.
“Half of the world’s population will vote in elections in 2024,” she said. “As public policy drives many of the factors making ESG material to investors today, the outcomes of these elections matter.”
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>>> Exxon to start lithium production for EVs in the U.S. by 2027
Reuters
11-13-23
By Sabrina Valle
https://www.msn.com/en-us/money/topstories/exxon-to-start-lithium-production-for-evs-in-the-u-s-by-2027/ar-AA1jQQMr?OCID=ansmsnnews11
HOUSTON (Reuters) -Exxon Mobil on Monday said it plans to start producing lithium from subsurface wells by 2027 to provide supplies of the key metal used in electric-car batteries and advanced electronics.
Oil majors are investing in the electrification sector as governments in the United States and Europe set programs to promote wider use of electric vehicles and reduce fossil-fuel consumption.
Exxon said it will start production from briny waters pumped out of the ground in an area in the state of Arkansas known to hold significant lithium deposits to help develop a domestic source of the metal.
"In the long term, lithium really is a global opportunity," said Dan Ammann, president of Exxon's Low Carbon business unit. "We are starting here because there is an urgent need to ramp up domestic production of these critical materials."
The largest U.S. oil company said it would use conventional oil and gas drilling methods to access lithium-rich saltwater from reservoirs about 10,000 feet underground and then use direct lithium extraction (DLE) technology to separate lithium from the saltwater.
Ammann did not disclose how much Exxon intends to invest in the lithium business, or when it might become profitable.
The company's majority-owned Canadian affiliate, Imperial Oil, also has invested in a lithium-extraction pilot project in Alberta, Canada.
Exxon plans to begin production with partner Tetra Technologies, Reuters exclusively reported on Saturday. It will produce the metal onsite and sell it under the brand name Mobil Lithium, the company said on Monday.
Exxon had acquired the rights to 120,000 gross acres of the Smackover formation in Arkansas earlier this year.
European oil rivals BP and Shell have invested in electric vehicle charging stations as part of their energy transition strategy. A Deloitte study released earlier this year showed investors would like to see more spending on such technologies.
Exxon, which invented the rechargeable lithium-ion battery in the 1970s, but stepped away from the technology, has no plans to invest in charging stations, the executive said.
Exxon is focusing on lithium production to be used not only in EVs but also consumer electronics and energy storage systems that can hold electricity generated from intermittent solar and wind power.
There are about 280 million vehicles in the United States today, and less than 3 million are EVs, or about 1% of the total, Ammann said.
"There is still 99% to go, which suggests it is a very, very big opportunity," he said.
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>>> Centrus Makes First HALEU Delivery to U.S. Department of Energy
PR Newswire
November 7, 2023
https://finance.yahoo.com/news/centrus-makes-first-haleu-delivery-113000606.html
BETHESDA, Md., Nov. 7, 2023 /PRNewswire/ -- Today, Centrus Energy Corp. announced that it has made its first delivery of High-Assay, Low-Enriched Uranium (HALEU) to the U.S. Department of Energy, completing Phase One of its contract with the Department by successfully demonstrating its HALEU production process. Centrus will now move on to Phase Two of the contract – requiring a full year of HALEU production at the rate of 900 kilograms per year at its American Centrifuge Plant in Piketon, Ohio.
"Centrus is proud to be pioneering American HALEU production, with our first delivery of the fuel that is urgently needed to support the demonstration and commercialization of advanced reactors," said Centrus President and CEO Daniel B. Poneman. "This critical milestone is essential to meeting the Department's near-term HALEU needs, while laying the groundwork for the full restoration of America's lost domestic uranium enrichment capacity. We are committed to working with the Department and industry to build a public-private partnership so that we can scale up production in the coming years to meet the full range of commercial and national security requirements for enriched uranium."
"Our HALEU team has worked exceptionally hard to complete this project ahead of schedule and under budget – showing we can execute on big, complicated projects and deliver value to our customers," said Centrus Senior Vice President of Operations Larry Cutlip. "We are grateful to have had the opportunity to demonstrate and expand our capabilities and expertise over the course of this work and look forward to embarking on the next phase of this important effort."
Under a competitively awarded, cost-share contract signed with the U.S. Department of Energy in 2022, Centrus was required to begin production of HALEU by the end of this year. Centrus began enrichment operations in October – two months ahead of schedule. By completing delivery of more than 20 kilograms of HALEU to the Department, Centrus has finished Phase One of the contract. The Department takes delivery of the HALEU on site in Piketon and is obligated to provide the HALEU storage cylinders to collect the HALEU from the cascade; Centrus has constructed a storage facility where the HALEU will be kept until it is needed.
Phase One included a 50 percent cost share requirement for Centrus, with the company and the Department each contributing about $30 million of the $60 million overall cost. In Phase Two of the contract, the Department will pay Centrus on a cost-plus incentive fee basis for the HALEU the company produces.
HALEU is an advanced nuclear fuel required for most of the next-generation reactor designs currently under development. The capacity of the 16-centrifuge cascade is modest – about 900 kilograms of HALEU per year – but with sufficient funding and offtake commitments, Centrus could significantly expand production. A full-scale HALEU cascade, consisting of 120 centrifuge machines, with a combined capacity to produce approximately 6,000 kilograms of HALEU per year (6 MTU/year), could be producing HALEU within 42 months after securing the necessary funding. With appropriate support, Centrus could add a second HALEU cascade six months later and subsequent cascades every two months after that. That would mobilize hundreds of union workers in Ohio to build and operate the plant, while supporting thousands of direct and indirect jobs across a nationwide manufacturing supply chain. The Piketon facility has ample space for the thousands of machines that will be needed to meet the growing demand for enriched uranium in the decades to come.
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.
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>>> Centrus Energy Corp. (LEU) supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.
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>>> What is white hydrogen? Scientists say the clean-energy gas could save the world.
Business Insider
by Katie Hawkinson
Oct 29, 2023
https://www.msn.com/en-us/news/us/what-is-white-hydrogen-scientists-say-the-clean-energy-gas-could-save-the-world/ar-AA1j3hwa?OCID=ansmsnnews11#image=AA1boD6K|1
Hydrogen power is an exciting form of clean energy.
But hydrogen typically needed to be produced in a lab using energy-intensive methods.
White hydrogen, a newly identified hydrogen source, could eliminate the need for lab production.
Two scientists in France have discovered what may be the largest known deposit of a clean energy resource that could be a saving grace in mitigating climate change.
Jacques Pironon and Phillipe De Donato, directors of research at France's National Centre of Scientific Research, found a deposit between 6 million to 250 million metric tons of white hydrogen, or naturally occurring hydrogen gas, CNN reported.
Take a look at North America's first hydrogen-powered train, which emits only water and will start service this summer
Running from June to October in Quebec, the Coradia iLint will be North America's first hydrogen train.
The train, developed by Alstom, first entered commercial operations in Germany in 2018.
It can be a greener alternative to diesel on non-electrified train tracks — over 90% of tracks in North America.
North America will have its very first hydrogen-powered train this summer season.
Alstom, a French rail transportation company, announced earlier this year that it's shipping one of its new hydrogen-powered Coradia iLint trains to Quebec for a summer demonstration.
The train will be operated by rail service Train De Charlevoix, and people traveling on the picturesque route along the St. Lawrence River will be able to get an innovative, hydrogen-fueled ride starting June 9.
The hydrogen train runs thanks to fuel cells — battery-like systems that don't require recharging — which produce electrical energy from the hydrogen in the train's tanks. Hydrogen produces heat and electricity when combined with oxygen, and the whole thing only emits water vapor and condensed water as an emission.
Alstom first started running two of its bright blue Coradia iLint trains in Europe in 2018, and it has delivered 41 more since then. They are considered the first hydrogen-powered trains in the world.
White hydrogen is relatively new to scientists. A study in 2018 that analyzed a well in Mali producing 98% hydrogen gas brought the resource to the attention of the scientific community, CNN reported.
Now, researchers across the globe are interested in white hydrogen — and it could help us "get to speed" on saving the world from the climate crisis, geochemist Viacheslav Zgonnik told CNN.
What is white hydrogen and why is it special?
Hydrogen energy is not a new idea — it only produces water when burned, making it an environment-friendly energy source.
But until recently, scientists thought mass amounts could only be produced in a lab.
"If you had asked me four years ago what I thought about natural hydrogen, I would have told you, 'Oh, it doesn't exist,'" Geoffrey Ellis, a geochemist with the US Geological Survey, told CNN.
And turns out, Ellis would've been wrong.
White hydrogen refers to naturally occurring hydrogen. Its "color" indicates its origin: it is naturally produced in the Earth's crust.
Other "shades" of hydrogen are produced in a lab. They include green hydrogen — which is made from electrolysis, the process of splitting water into hydrogen and oxygen — and gray hydrogen, which is made from methane gas, Insider previously reported.
While hydrogen is the most abundant element, it is usually attached to other molecules — making the lab production process necessary. But separating hydrogen is energy-intensive and typically powered by fossil fuels, CNN reported.
Because it doesn't require any of these energy-intensive processes, climate experts say white hydrogen could be our saving grace, according to CNN. It's also cheaper: white hydrogen is estimated to cost about $1 per kilogram to produce, while green hydrogen costs about $6 per kilogram, per CNN.
Several start-ups are already exploring how to commercialize white hydrogen, CNN reported.
Ellis told CNN that speed is vital to ensure white hydrogen can help curb the climate crisis.
But Zgonnik told CNN he's hopeful about the turnaround time.
"We have all necessary technology we need, with some slight modifications," Zgonnik said.
The discovery of the largest-known white hydrogen deposit yet comes just months after the hottest summer on global record came to an end — a concerning milestone for climate researchers and activists.
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Lights Out: Solar Power Stocks Crash After Demand Warning Across Europe
https://www.zerohedge.com/commodities/lights-out-solar-power-stocks-crash-after-demand-warning-across-europe
The renewable energy meltdown continues as solar power company stocks tumbled on Friday morning after solar equipment maker SolarEdge Technologies warned of sliding European demand.
"During the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors," said SolarEdge CEO Zvi Lando in a statement.
Lando said, "We attribute these cancellations and pushouts to higher-than-expected inventory in the channels and slower-than-expected installation rates. In particular, installation rates for the third quarter were much slower at the end of the summer and in September where traditionally there is a rise in installation rates."
SolarEdge also announced preliminary third-quarter results, with third-quarter revenues ranging from $720 million to $730 million, compared to the previous expectation of $880 million to $920 million.
Shares of SolarEdge crashed as much as 28% in premarket trading in New York. Also, Competitor Enphase Energy plunged 17%, Sunrun -9%, and SunPower -8%.
Here's what Wall Street analysts are saying about SolarEdge's dismal outlook (list courtesy via Bloomberg):
Goldman Sachs (cut to neutral from buy; PT to $131 from $254)
Downgrade reflects SolarEdge's negative pre-announcement on "significantly weaker installation rates"
"After a second straight disappointing quarter of results/guidance, we find it hard to defend the stock"
Deutsche Bank analyst Corinne Blanchard
Cut the recommendation on SolarEdge to hold
Trimming numbers for most solar companies, as expects further downside with sluggish demand in the US and European residential market
Also downgrades Sunrun and Sunnova recommendations to hold
BMO analyst Ameet Thakkar (outperform, PT $216)
Expected for a negative update this quarter but SolarEdge's comments suggest 4Q forecast "will be materially lower than this"
The stock should be "under significant pressure"
Truist Securities analyst Jordan Levy (buy, PT $180)
SolarEdge's 3Q outlook cut reflects challenges beyond the US market
The company cut its guidance as European residential solar markets weakened during the quarter
Solar demand has also slid in the US due to high-interest rates and less favorable state renewable policies.
We've been keeping an eye on the financial crisis brewing in the offshore wind industry.
The ultra-efficient and reliable form of clean energy production is an essential component of all of the world's possible decarbonization pathways, but soaring inflation costs have undercut the sector's growth and left major projects dead in the water just when their output is most needed. A major policy shift is in order, but the public and private sector are at loggerheads as to who should have to pay for the increasingly expensive development plans.
The entire energy transition to renewables is cracking and never was sustainable. And queue more spending from the White House to prop up the failing industry.
I looked it over a bit and noticed what you noticed. I liked APD too. But as with Nukes, I am waiting for a market crash or long bear to buy anything. Again, I was bearish in 1998 and missed a lot of internet stock gainers. But by October 2002, I saved a lot of money
>>> Biden awards $7 billion for clean hydrogen hubs across the country to help replace fossil fuels
by By MATTHEW DALY
Associated Press
10-13-23
https://www.msn.com/en-us/money/markets/biden-awards-7-billion-for-clean-hydrogen-hubs-across-the-country-to-help-replace-fossil-fuels/ar-AA1i9q7y?OCID=ansmsnnews11
WASHINGTON (AP) — The Biden administration has selected clean-energy projects from Pennsylvania to California for a $7 billion program to kickstart development and production of hydrogen fuel, a key component of President Joe Biden's agenda to slow climate change.
Biden called clean hydrogen essential to his vision of net-zero greenhouse gas emissions in the U.S. by 2050. His goal is to establish seven regional hubs to help replace fossil fuels such as coal and oil with cleaner-burning hydrogen as an energy source for vehicles, manufacturing and generating electricity.
The seven hubs, which include projects in 16 states, will spur more than $40 billion in private investment and create tens of thousands of good-paying jobs, many of them union positions, Biden said Friday at a cargo terminal in Philadelphia, where one of the hubs will be based.
He called the announcement transformational and said it would help create “a stronger, energy-secure economy'' and combat “the existential threat of climate change.''
“It’s all part of my plan to make things in America,” he said.
The projects selected are based in California, Washington, Minnesota, Texas, Pennsylvania, West Virginia and Illinois. All but the California and Texas hubs include projects in multiple states. Pennsylvania has projects in two separate hubs.
The infrastructure law Biden signed in 2021 included billions of dollars to develop so-called clean hydrogen, a technology that industry and clean-energy advocates have long pushed as a way to reduce planet-warming greenhouse gas emissions produced by fossil fuels.
Some environmentalists call hydrogen a false solution because it frequently relies on natural gas as a fuel source.
Energy companies say fossil fuels can by used if the projects capture the carbon dioxide produced and keep it out of the atmosphere, a technology that has yet to be produced at commercial scale.
States and businesses have been competing for federal dollars in the new Energy Department program, which will create regional networks of hydrogen producers, consumers and infrastructure. The intent is to accelerate the availability and use of the colorless, odorless gas that already powers some vehicles and trains.
Among those selected were the Appalachian Regional Clean Hydrogen Hub, based in West Virginia, and the Philadelphia-based Mid-Atlantic Clean Hydrogen Hub. Pennsylvania, a battleground state of the highest importance to the Democratic president in next year’s election, is in line to benefit from both projects
Biden has made Philadelphia a regular stop for both official and campaign events, and partners in the proposed Philadelphia-area hub have labor unions that are key Biden supporters. The West Virginia-based hub includes major Pittsburgh-based natural gas companies that are active in the region’s prolific Marcellus Shale reservoir, including natural gas producer EQT Corp., which expects its gas to flow through the controversial Mountain Valley Pipeline in West Virginia and Virginia.
Sen. Joe Manchin, a West Virginia Democrat who muscled approval of the $6.6 billion pipeline through Congress in an unusual agreement with the White House this year, hailed the Appalachian hub.
“This means West Virginia will be the new epicenter of hydrogen in the United States of America,” he said of the hub, which will receive up to $925 million in federal spending. “West Virginia will be on the leading edge of building out the new hydrogen market.''
The Appalachian hub will extend to Ohio and includes a $1.6 billion facility under construction in northern Pennsylvania that is working to produce near-zero emissions hydrogen from natural gas.
“This is a big, big deal for ... Appalachia in particular, because these facilities are all based in areas where coal was king,'' said Perry Babb, president of KeyState, an owner and developer of the Pennsylvania site.
The Mid-Atlantic hub, which includes New Jersey and Delaware, will receive $750 million and will make hydrogen through electrolysis — splitting water molecules using renewable energy sources such as wind and solar power, as well as nuclear power.
The two largest projects are in California and Texas; each will receive up to $1.2 billon.
The Alliance for Renewable Clean Hydrogen Energy Systems in California will produce hydrogen from renewable energy and biomass. The project is intended to provide a blueprint for decarbonizing public transportation, heavy-duty trucking and port operations — key emissions drivers in the state and major sources of air pollution.
In order to achieve ambitious climate goals, “we have to address these intensive industries,” including ports, aviation, shipping and agriculture, as well as large power plants and cement and steel plants, California Gov. Gavin Newsom said Friday.
The Gulf Coast Hydrogen Hub will be centered in Houston, long the energy capital of the U.S., and plans large-scale hydrogen production from both natural gas and renewables. “This historic investment will further cement Texas’ position as the national leader in energy and hydrogen production,'' said Texas Gov. Greg Abbott.
The Minnesota-based Heartland hub, which includes projects in North and South Dakota, will receive $925 million as it seeks to decarbonize fertilizer used in agriculture and advance use of clean hydrogen in electric generation and for cold climate space heating. It also plans to offer equity ownership to tribal communities and local farmers.
The Midwest hub in Illinois, Indiana and Michigan will receive up to $1 billion and will use hydrogen in steel and glass production, power generation, heavy-duty transportation and sustainable aviation fuel. The hub plans to use renewable energy, natural gas and nuclear energy.
The Pacific Northwest hub, based in eastern Washington, will extend to Oregon and Montana and will use hydropower and other renewable resources to produce clean hydrogen.
Sen. Patty Murray, D-Wash., called the $1 billion hub “great news for the Pacific Northwest," adding that it will create thousands of jobs and "make sure that Washington plays a leading role in growing the green hydrogen economy.''
Nearly every state had joined at least one proposed hub, and many have been working together, hoping to reap the economic development and thousands of jobs they would bring. Big fossil fuel companies, renewable energy developers and researchers in university and government labs are involved, too.
Environmental groups are skeptical, arguing that while hydrogen is a clean-burning source of power, it takes a great deal of energy to produce. When it’s made with electricity from coal or natural gas, it has a bigger carbon footprint than simply burning the source fuel.
“We need strong guardrails to ensure that U.S. hydrogen does not create an emissions mess, and that we are not subsidizing hydrogen that is clean in name only,” said Erik Kamrath, federal hydrogen advocate at Natural Resources Defense Council, an environmental group.
Anna Menke, senior hydrogen hubs manager at Clean Air Task Force, another environmental group, called the new hubs “a critical first step'' to reduce emissions from carbon-intensive industries such as ammonia used for fertilizers and petrochemicals used in refining. New uses of hydrogen in sectors such as heavy-duty trucking, shipping and aviation are potential game changers, she said, adding: “We must ensure the program delivers on these promises.''
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For the hydrogen sector there are several ETFs (HDRO, HJEN). While these have been dogs, there might be some ideas among their top 10 holdings (below). I see HJEN has positions in LIN and APD, and those would be a conservative way to play it, via the diversified industrial gas companies. I have Linde (LIN) in my Best Long Term Stocks portfolio and it has a nice long term chart, as does APD.
But the more pure play hydrogen stocks like PLUG and FCEL, these have been dogs. PLUG had a nice runup in 2019-20, but then got clobbered along with the rest of the alternative energy sectors. I had some ICLN, QCLN and others during the big runup, but luckily bailed when the move began to look unsustainable. They might come back into vogue at some point, but the charts still have that 'falling knife' look to them.
So LIN and APD would be my picks, though hydrogen is only a small part of their business. The industrial gas sector is traditionally on the cyclical side, but the chart trajectories have been steady enough for buy/hold.
Direxion Hydrogen ETF (HJEN)
Air Liquide SA AI.PA 9.00%
Shell PLC ADR (Representing - Ordinary Shares) SHEL 8.71%
Bloom Energy Corp Class A BE 7.17%
ENEOS Holdings Inc 5020.T 6.21%
Plug Power Inc PLUG 5.82%
Idemitsu Kosan Co Ltd 5019.T 5.79%
BP PLC ADR BP 5.76%
NEL ASA NEL.OL 5.25%
Linde PLC LIN 5.21%
Air Products & Chemicals Inc APD 5.08%
Defiance Next Gen H2 ETF (HDRO)
Plug Power Inc PLUG 9.57%
Bloom Energy Corp Class A BE 8.63%
Ballard Power Systems Inc BLDP.TO 8.31%
Doosan Fuel Cell Ordinary Shares 336260.KS 7.58%
NEL ASA NEL.OL 7.58%
ILJIN Hysolus Co Ltd 271940.KS 4.67%
FuelCell Energy Inc FCEL 4.60%
ITM Power PLC ITM.L 4.58%
Ceres Power Holdings PLC CWR.L 4.46%
thyssenkrupp nucera AG & Co NCH2.F 4.41%
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DewDiligence put up the following,
CLF is serious_about_replacing coke with hydrogen:
https://www.nwitimes.com/news/local/cleveland-cliffs-building-multimillion-dollar-hydrogen-pipeline-to-east-chicago-blast-furnace/article_4451a2da-6916-11ee-b2ad-e35cd7949c0a.html
Cleveland-Cliffs is building a multimillion-dollar pipeline to pump hydrogen to Blast Furnace No. 7 at Indiana Harbor Works in East Chicago, said Traci Forrester, executive vice president of environmental and sustainability for Cleveland-Cliffs.
…Construction is already underway on the pipeline, Forrester said… Cleveland-Cliffs is looking at sourcing hydrogen from multiple potential sources, Forrester said.
… Cleveland-Cliffs completed a successful hydrogen injection trial at a blast furnace at Middletown Works in Ohio [see #msg-171866376], replacing the release of CO2 with the release of...water vapor, with no impact on product quality or operating efficiency, CEO, President and Chairman Lourenco Goncalves has said.
…Blast Furnace No. 7 is the largest blast furnace in the Western Hemisphere with a production capacity of 5.5 million tons of iron a year.
______________________________
So I ask him who are some hydrogen, he says he follows none. gfp, hydrogen could be a great investment, it is GREEN. Do you know of any good stocks to buy in hydrogen production? i am guessing the big oils are into it.
Link>>
https://www.fortunebusinessinsights.com/blog/top-hydrogen-generation-companies-10715
https://www.fortunebusinessinsights.com/blog/top-hydrogen-generation-companies-10715
Green Agenda Destroyed? I am not up on all the facts, but I would not speak out like this if it is not mostly true>>>>>>>>
https://www.instagram.com/reel/Cx8nxVtLuD4/
>>> Small Nuclear Reactors: The Answer To Big Tech's Energy Crisis?
https://oilprice.com/Alternative-Energy/Nuclear-Power/Small-Nuclear-Reactors-The-Answer-To-Big-Techs-Energy-Crisis.html
Microsoft hints at its nuclear plans by posting a job for a "Principal Program Manager Nuclear Technology" to explore integrating SMRs into its operations.
Small Nuclear Reactors offer quick deployment, reduced costs, and enhanced safety features, with over 80 designs under global development.
Challenges like sourcing materials for SMR development, particularly from politically complex regions, may delay their commercial rollout.
Microsoft could be the first of several companies to prepare to use small nuclear reactor (SMR) technology for its high energy consumption, as AI and other technologies become more widely used. There has been great enthusiasm around the potential of SMRs, which could be built faster and at a much lower cost than a traditional nuclear reactor. This month, Microsoft posted a job opportunity for a “Principal Program Manager Nuclear Technology,” suggesting its interest in using SMRs in the future, to support its energy-intensive operations. As companies begin to use a vast range of digital technologies in their day-to-day operations, their energy consumption could increase substantially, making the use of low-carbon nuclear power increasingly attractive.
SMRs are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, equivalent to around one-third the generating capacity of a traditional nuclear reactor. SMRs are much smaller than traditional reactors and are modular, making it simpler for them to be assembled in factories and transported to site. Because of their smaller size, it is possible to install an SMR on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional nuclear reactors and can be constructed incrementally to meet the growing energy demand of a site.
There are strong safety margins included in SMR production, meaning that the potential for the unsafe release of radioactivity to the environment is significantly reduced. These systems can be shut down automatically, without human assistance, in the case of a malfunction. At present, there are over 80 commercial SMR designs under development worldwide, aimed at responding to a range of needs. Although companies are still trepidatious about investing in SMRs as their economic competitiveness in use has yet to be proven. As energy companies begin to roll out SMRs within the next decade there will be a greater understanding of their applicability and the costs involved.
Despite still being in the development stage, Microsoft appears to be one of the first companies to demonstrate its interest in SMRs. As companies continue to digitalise operations and conduct high-energy operations, they will need an increasing amount of energy to power their activities. For example, AI researchers suggest that training a “single large language deep learning model” such as OpenAI’s GPT-4 creates around 300 tonnes of CO2. The average person is responsible for creating around 5 tonnes of CO2 a year, showing just how significant this is.
Microsoft now appears to be drawing up a roadmap for the use of SMR to power its computation needs. This month, the company posted a job description to hire a nuclear technology expert to lead the company’s technical assessment for integrating small modular nuclear reactors and microreactors “to power the datacentres that the Microsoft Cloud and AI reside on.” The post reads that Microsoft is seeking a “principal program manager for nuclear technology”, who “will be responsible for maturing and implementing a global Small Modular Reactor (SMR) and microreactor energy strategy.”
This is not the first time the tech giant has shown interest in nuclear power. In May, Microsoft signed a power purchase agreement with Helion, a nuclear fusion start-up, to purchase electricity from it starting in 2028. And Bill Gates, Microsoft’s co-founder, is the chairman of the board of Terrapower, a company that is currently developing SMR technology. Although there has been no suggestion that Terrapower will provide Microsoft with any nuclear reactors.
Microsoft is showing an early interest in integrating nuclear power into operations. But, as more companies are using energy-intensive technologies, they will require vast amounts of energy to power their activities. Meanwhile, governments worldwide are putting increasing pressure on companies to decarbonise operations, with some introducing carbon taxes and others encouraging the use of clean energy sources through financial incentives. Renewable energy sources, such as wind and solar power, can take years to develop, and acquiring a stable clean energy source also means investment in battery technology. However, as the use of SMRs becomes more commonplace, their fast manufacturing time and small land footprint will likely appeal to companies looking for alternative clean energy sources.
Despite the optimism around SMR technology, a commercial rollout is likely still a long way off due to recent difficulties in acquiring the materials needed to develop these reactors. Many SMRs under production at present will run on uranium at enrichments as high as 15 to 19.75 percent, known as high-assay low-enriched uranium (HALEU). However, this is currently only commercially available from Russia, with which many governments and private companies have cut ties following the Russian invasion of Ukraine last year. Chris Levesque, the CEO of TerraPower, explained “It has become clear that domestic and allied HALEU manufacturing options will not reach commercial capacity in time to meet the proposed 2028 in-service date for the Natrium demonstration plant.”
There has been a rise in the popularity of SMR technology, thanks to its small size and relatively low-cost and fast manufacturing potential. While the commercial rollout of SMRs is still far off, it could provide the vast amounts of low-carbon energy required to meet the world’s growing electricity needs. And tech companies, such as Microsoft, will likely be some of the first to invest in SMR technology as they look to meet their rising computation needs while striving to decarbonise operations.
By Felicity Bradstock for Oilprice.com
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Thorium reactors -
>>> Thorium Investing
Energy & Capital
https://www.energyandcapital.com/resources/thorium-investing/51975#:~:text=Investing%20in%20thorium%20can%20be,add%20to%20your%20portfolio...
Take a look at the word thorium.
What do you see?
Those familiar with Norse mythology or the Marvel comic books might notice the root of the word is Thor, the name of the god of thunder. Thor is known for his strength and power, wielding a hammer and controlling the lightning and thunder.
The name alone implies a superhuman power, a superior energy. And the element doesn't disappoint...
Thorium is a radioactive chemical element that can be found in soil and rocks. In its purest form, it appears as a silver metal, but when heated in the air, it becomes like a white light, like lightning.
Thorium is currently used in things such as light bulbs and camera lenses. It can create a high-quality refractive glass, and its high melting point can allow ceramics to resist high temperatures.
But light bulbs and ceramics aren’t what have the energy industry watching closely...
Heat resistance is.
You see, thorium’s ultra-high melting point can be useful in more than just ceramics. Heat resistance is something scientists and energy specialists alike have been trying desperately to achieve with nuclear energy.
One of the biggest issues with nuclear plants is the meltdowns that can occur if the uranium is not cooled properly. We saw that tragically exhibited in Japan in 2011, when an earthquake and tsunami caused a series of meltdowns at the Fukushima Daiichi plant. The fact that the only other disaster of that caliber was the 1986 Chernobyl disaster has done little to ease the minds of world governments and energy companies. This simply highlighted the tragedy that can come along with it.
Which is why thorium’s properties have become so coveted. If the material were virtually meltdown-proof, the clean energy possibilities would be endless.
There is only one problem: Thorium is unable to sustain a nuclear reaction on its own.
Thorium in Nuclear Energy
Thorium’s inability to sustain a nuclear chain reaction causes a problem, but it’s not one without a solution.
The material can actually prove quite effective when combined with a fissile material — one that is able to sustain a nuclear reaction.
These materials include uranium-233 (which is actually an isotope of thorium), enriched uranium (U-235), and plutonium (Pu-239).
The use of thorium in a nuclear reaction significantly lowers the waste produced; of the waste that does occur, radioactively decaying elements are lowered as well. Combined with weapons-grade uranium, for instance, one University of Oslo researcher found that thorium can aid in reducing radioactive waste by up to 95%.
And the safety of a thorium reactor compared to one using uranium is much higher. As mentioned before, thorium’s high melting point makes a nuclear meltdown much less likely.
But thorium can’t be used in just any nuclear reactor. Only seven types are safe for thorium reactions, including heavy water reactors, high-temperature gas-cooled reactors, boiling (light) water reactors, pressurized (light) water reactors, fast neutron reactors, molten salt reactors, and accelerator driven reactors. Molten salt reactors and accelerator driven reactors are still conceptual, though the other five have all been operational at some point.
The liquid-fluoride thorium reactor (LFTR), a type of molten salt reactor, is being touted by many as the best solution to thorium-powered nuclear energy. In these types of reactors, thorium and uranium fluorides are combined into a salt mixture that’s heated to a molten substance, which is then used to fuel the reactor.
These reactors have the potential to become self-sustainable, as they will be able to produce U-233 (the thorium isotope).
Flibe Energy, a company started by nuclear technologist and former NASA aerospace engineer Kirk Sorensen, is conducting research on LFTR technology with a view to eventually incorporate these reactors not just into electrical energy generation, but also into fields as vastly different as desalination, cancer treatment, and deep space exploration.
Creating the Nuclear Reaction
Still, the fissile material that enables a thorium reactions is actually fairly difficult to supply...
For years, the U.S. has had a steady stream of U-235 coming in, but that runs out this year.
Following the fall of the Soviet Union in 1991 and the Lisbon Protocol in 1992, the U.S. and Russia arrived at the U.S.-Russian Highly Enriched Uranium Agreement, or what came to be known as the “Megatons to Megawatts Program.”
Under the terms of the 1993 agreement, Russia would dismantle Soviet nuclear warheads and convert 500 tonnes of highly-enriched uranium to low-enriched uranium, which would be sold to the U.S. for use in nuclear reactors.
By 2013, ten years after the start of the program, all 500 tonnes would be converted. As a result, the U.S.’s steady supply of uranium came to a halt in 2013.
But for thorium, it might not be as bad as it seems. After all, U-235 isn’t the only fissile material that could be combined with thorium for a nuclear reaction...
U-233, an isotope of thorium, can react with thorium for a nuclear reaction. And this is the focus of the LFTRs, as it could lead to self-sufficiency of these reactors with the recycled waste.
It’s not easy. Thermal breeding, as the process is called, requires the reactor to produce more fissile material than it consumes, and it requires a highly specialized type of reactor.
Regular nuclear reactors are unable to breed to the point where it is unnecessary to add more of the fissile material. But many LFTRs are being designed as breeding reactors. While regularly adding thorium to these reactors would be necessary, adding U-233 would not. Enough fissile material would be created in the reactions to sustain it on its own.
Investing in Thorium
Investing in thorium can be tough, as it’s not yet used for nuclear power generation. Companies like Flibe Energy, which is focused on thorium reactors, are still private.
Uranium Mining Companies
Several uranium miners, like Cameco Corp. (NYSE: CCJ) and Unity Energy Corp. (UTY.V), are mining uranium in areas that also have concentrations of thorium.
Though neither company has reported on significant mining of thorium, both are well-positioned to profit should the demand for the metal skyrocket.
As thorium reactor testing continues in nations like Norway and India, and major investors like Bill Gates (whose company TerraPower has also begun testing thorium reactors) get involved, attention to the metal will only grow...
Research on these reactors will lead to implementation, and that will lead to profits for the well-positioned investor.
Thorium is the key nuclear fuel of the future. Keep a close eye on this one.
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Tesla Inc | TSLA | 5.71% |
NIO Inc ADR | NIO | 5.20% |
Digital Realty Trust Inc | DLR | 4.95% |
Vestas Wind Systems A/S | VWS | 4.87% |
Enphase Energy Inc | ENPH | 3.96% |
Central Japan Railway Co | 9022 | 3.94% |
Kingspan Group PLC | KRX.IR | 3.28% |
Li Auto Inc ADR | LI | 3.10% |
XPeng Inc ADR | XPEV | 3.04% |
SolarEdge Technologies Inc | SEDG | 2.78% |
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Vestas Wind Systems A/S | VWS | 7.61% |
Orsted A/S | ORSTED | 7.43% |
Enphase Energy Inc | ENPH | 7.12% |
NextEra Energy Inc | NEE | 4.29% |
Xcel Energy Inc | XEL | 4.18% |
Enel SpA | ENEL.MI | 4.02% |
Iberdrola SA | IBE.BC | 3.96% |
Plug Power Inc | PLUG | 3.86% |
SolarEdge Technologies Inc | SEDG | 3.73% |
SSE PLC | SSE.L | 2.92% |
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Vestas Wind Systems A/S | VWS | 9.49% |
Tesla Inc | TSLA | 9.00% |
NIO Inc ADR | NIO | 8.62% |
Eaton Corp PLC | ETN | 8.35% |
Microchip Technology Inc | MCHP | 7.90% |
Orsted A/S | ORSTED | 5.15% |
BYD Co Ltd Class H | 01211 | 5.12% |
Samsung SDI Co Ltd | 006400.KS | 4.04% |
Enphase Energy Inc | ENPH | 3.98% |
Albemarle Corp | ALB | 3.45% |
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Waste Management Inc | WM | 10.01% |
Waste Connections Inc | WCN.TO | 9.99% |
Republic Services Inc Class A | RSG | 9.92% |
Ecolab Inc | ECL | 9.79% |
Evoqua Water Technologies Corp | AQUA | 3.75% |
GFL Environmental Inc | GFL.TO | 3.73% |
Clean Harbors Inc | CLH | 3.70% |
Steris PLC | STE | 3.70% |
Darling Ingredients Inc | DAR | 3.67% |
US Ecology Inc | ECOL | 3.65% |
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Vestas Wind Systems A/S | VWS | 9.25% |
Siemens Gamesa Renewable Energy SA | SGRE.BC | 8.84% |
Orsted A/S | ORSTED | 8.59% |
Northland Power Inc | NPI.TO | 7.55% |
Boralex Inc Class A | BLX.TO | 5.43% |
China Longyuan Power Group Corp Ltd Class H | 00916 | 4.85% |
Innergex Renewable Energy Inc | INE.TO | 3.67% |
TPI Composites Inc | TPIC | 2.99% |
Xinjiang Goldwind Science & Technology Co Ltd Class H | 02208 | 2.63% |
General Electric Co | GE | 2.50% |
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Enphase Energy Inc | ENPH | 10.89% |
SolarEdge Technologies Inc | SEDG | 8.70% |
Xinyi Solar Holdings Ltd | 00968 | 7.80% |
Sunrun Inc | RUN | 7.19% |
First Solar Inc | FSLR | 6.11% |
Scatec ASA Ordinary Shares | SSO | 4.54% |
Daqo New Energy Corp ADR | DQ | 4.15% |
Hannon Armstrong Sustainable Infrastructure Capital Inc | HASI | 4.02% |
Neoen SA | NEOEN.PA | 3.69% |
Encavis AG | CAP.DE | 3.55% |
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Plug Power Inc | PLUG | 7.79% |
Ballard Power Systems Inc | BLDP.TO | 7.69% |
NEL ASA | NEL | 7.61% |
Bloom Energy Corp Class A | BE | 7.11% |
FuelCell Energy Inc | FCEL | 6.86% |
ITM Power PLC | ITM.L | 5.38% |
ENEOS Holdings Inc | 5020 | 5.08% |
Eni SpA ADR | E.MI | 4.93% |
Ceres Power Holdings PLC | CWR.L | 4.91% |
Linde PLC | LIN.L | 4.53% |
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