Tag Archives: green energy

Budweiser and CleanEarth announce Magor Brewery to be Powered by Massive Wind Turbine

Posted on by
Reply

Budweiser Brewing Group UK&I, a proud part of AB InBev, and renewable energy company, CleanEarth, reached a milestone in the brewer’s sustainability efforts. A new wind turbine has been installed at Budweiser Brewing Group’s brewery in Magor, South Wales to help power the site with renewable electricity. 

One billion pints

The newly installed turbine will supply nearly a quarter of the energy consumed at Budweiser’s Magor Brewery. As the site produces more than 1 billion pints of beer each year (including Budweiser, Stella Artois, Corona and Bud Light) its power demand is considerable.

Located just under a mile from the brewery, the turbine serves the plant via a direct wire, with Budweiser Brewing Group purchasing the power from CleanEarth through a power purchase agreement (PPA).

The turbine is the latest step in Budweiser Brewing Group’s commitment to brewing its beers with 100% renewable electricity by next year and its continued investment in renewables.

Lloyd Manship, Brewery Manager at Magor Brewery, said, “Having worked at the brewery for more than 20 years, it’s amazing to see how far we’ve come in our sustainability initiatives. The installation of this wind turbine is going to make a huge difference in helping us to operate more sustainably long into the future.”

Unprecedented scale

The Vensys V136 turbine presented significant logistical challenges, especially in the transportation of the blades. The conventional route by road was dropped in favour of shipping them over 800 miles by sea and into Bristol’s Avonmouth Dock, leaving just the last 20 miles to be negotiated by road.

The combination of sheer size with the latest design and engineering technology makes the Magor turbine highly efficient in harnessing the available wind, providing an output of up to 3.5 megawatts.

This will generate 9 million kilowatt-hours of electricity each year – the equivalent of powering 2,300 Welsh homes – while saving more than 2,600 tonnes of CO2 emissions. That’s well over 65,000 tons of carbon savings during its operational lifetime.

Commitment to decarbonization

The partnership between Budweiser and CleanEarth is another important step in the decarbonization of UK businesses. As Paula Lindenberg, President, Budweiser Brewing Group UK&I, said, “We’re committed to brewing Britain’s most sustainable beers. Partnerships like this one with CleanEarth help drive positive change – making it easier for people to make sustainable choices at the pub or on their weekly shop.”

This was echoed by Dean Robson, Managing Director of CleanEarth, who said, “Too often corporate goals are not coupled with strong and effective action – but Budweiser Brewing Group has been supportive at all levels, and have acted throughout with a clarity that’s consistent with their ambitious environmental targets.

“We are proud of the work we’ve done with Budweiser Brewing Group on this project. As a result of this collaboration, CleanEarth will generate low-carbon, low-cost energy into the Magor brewery for years to come.”

AVANGRID and PNM Resources Announce Merger Plans

Posted on by
Reply


AVANGRID, a leading sustainable energy company, and PNM Resources announced today that their respective boards have approved the merger of PNM Resources into AVANGRID. Ignacio Galán, chairman of AVANGRID and chairman of IBERDROLA Group, said, “This transaction is a consequence of the IBERDROLA Group’s disciplined strategy followed over more than 20 years. This is a friendly transaction, focused on regulated businesses and renewables in highly rated states with legal and regulatory stability and predictability offering future growth opportunities.”

Dennis V. Arriola, AVANGRID’s CEO who will continue as CEO of the combined company, said, “This merger between AVANGRID and PNM Resources is a strategic fit and helps us further our growth in both clean energy distribution and transmission, as well as helping to expand our growing leadership position in renewables.  Our two companies also share the same values as we both are passionate about our customers, employees and the communities we serve. In addition, both AVANGRID and PNM Resources are leaders in environmental, social and governance issues that impact our stakeholders.”

Pat Vincent-Collawn, chairman, president and CEO of PNM Resources, stated, “We are excited to be part of this transaction that provides so many benefits to our customers, communities, employees and shareholders.  Our combined companies provide greater opportunities to invest in the infrastructure and new technologies that will help us navigate our transition to clean energy while maintaining our commitments to our local teams and communities.”

AVANGRID will add two independent board members from PNM Resources to its board of directors and one independent board member from PNM Resources will join the AVANGRID Networks board.

Key Highlights

  • The transaction is expected to be EPS accretive in the first full year after closing.  
  • As a result of PNM’s earnings from regulated distribution and transmission assets, it is expected that AVANGRID’s regulated earnings contribution post-transaction will exceed 80%.  This proportion of regulated earnings will support AVANGRID’s fast-growing renewables business over the next decade.
  • The purchase price represents a premium of 10% over the PNM`s share price as of Tuesday 20th October and 19.3% over the average PNM share price during the 30 days prior to 21st  October. 
  • AVANGRID’s majority shareholder, Iberdrola, has provided the company with a funding commitment letter for the entire equity proceeds for the transaction. 
  • As a result of this transaction, PNM’s shareholders will receive approximately $4.318 billion in cash. 

The agreement between AVANGRID and PNM Resources is subject to approval by PNM Resources shareholders. In addition, the transaction will require approval from a number of state and federal regulators including the New Mexico Public Regulation Commission, Public Utility Commission of Texas, Federal Energy Regulatory Commission, Hart Scott Rodino Clearance, Committee on Foreign Investment in the United States, Federal Communications Commission and the Nuclear Regulatory Commission.  Regulatory approvals are expected to be completed in approximately 12 months.

AVANGRID currently owns 1,900 MW of renewable energy and a pipeline of 1,400 MW of renewables assets in New Mexico and Texas.  In addition, Iberdrola operates a retail business in Texas. For more than 15 years, Iberdrola has also funded the King Felipe VI Chair in the Department of Electrical and Computer Engineering at the University of New Mexico.

Total Enters Giant Korean Floating Wind Projects in Green Push

Posted on by
Reply

offshore wind

By Francois de Beaupuy (Bloomberg) — Total SE will team up with Macquarie Group’s bank to develop more than 2 gigawatts of floating wind farms off South Korea, the latest push by the French oil and gas giant to diversify into clean energy.

Total and European peers such as Royal Dutch Shell Plc and BP Plc have vowed to reduce their exposure to fossil fuels and trim emissions as governments, consumers and investors demand increased efforts to tackle global warming. Floating wind parks at the scale planned by Total — dwarfing current sites — will be key to bringing down the cost of the emerging technology.

The French major and Macquarie’s Green Investment Group will develop five floating wind farms off the eastern and southern coasts of South Korea, Total said in a statement on Tuesday. They plan to start building the first 500-megawatt project by the end of 2023. That compares with the 30 megawatts of capacity at Equinor ASA’s Hywind site off Scotland, the biggest operating floating wind project so far.

The plan is “in line with Total’s strategy to profitably develop renewable energy worldwide and contribute to our net-zero ambition,” Chief Executive Officer Patrick Pouyanne said in the statement. “Thanks to its extensive experience in offshore projects, in cooperation with many Korean shipyards, Total is particularly well-positioned to contribute to the successful development of this new technology.”

Developers have recently started to test large floating wind turbines, aiming to install them in areas that lack shallow waters, where traditional offshore turbines can be anchored to the seabed. Total itself took a majority stake in a floating wind project off Wales this year, reflecting its commitment to invest in the technology while tapping its experience developing oil and gas offshore.

The total has also stepped up spending on renewable energy more broadly, with investments this year in large solar developments in India and Qatar, a giant wind farm in the North Sea, and growth in clean power in Spain and France. The company aims to have stakes in at least 25 gigawatts of renewable generation capacity in 2025, up from more than 5 gigawatts currently.

Total didn’t discuss funding of the Korean wind farms in its statement.