Tag Archives: wind power

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

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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

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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.

Oil Billionaire Says It’s Time to Move Focus to Renewables

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By Mikael Holter (Bloomberg) — Norwegian billionaire Kjell Inge Rokke, who built most of his fortune on oil and gas, says the time has come to start investing more heavily in renewable energy.

The 61-year-old suggested that a tipping point had now been reached in the energy industry while underscoring his conviction that the world will continue to need fossil fuels for years to come.

“A good hunter is a patient hunter,” Rokke said during a webcast panel discussion. He also said that investors who started “too early” has “burned through cash.”

Rokke’s investment company Aker ASA took steps earlier this year to spin off clean-energy units, joining a whirlwind of change that’s sweeping the global oil industry. The new companies have since surged in line with other renewable stocks as investors flock around sustainable assets.

In a rare public appearance at Pareto Securities AS’s Energy Conference on Wednesday, Rokke said he had discussed the timing with Aker Chief Executive Oyvind Eriksen for years.

“The key thing for us is to listen, when you are wrong, admit it, and change direction,” Rokke said. “That’s something that has served us well in this extraordinary shift in the energy sector.”

Aker’s 40% stake in oil producer Aker BP ASA, where BP Plc owns 30%, still makes up more than half of the holding company’s value. Rokke dismissed “doomsday sayers” and said Norway shouldn’t stop producing oil and gas. But he also predicted that other businesses will rapidly rise to make up most of his empire.

In as little as five years, Aker’s exposure to digital solutions and IT, primarily through its majority stake in Cognite AS, could make up between half and two-thirds of the company’s value, Rokke predicted. “Quote me on that five years from now,” he said.

“What we’re doing in the green space is also exciting,” he said. “Less than 10% of offshore wind has been installed so far. We are in the infancy.”

Aker is also working on establishing a separate unit dedicated to hydrogen, Eriksen said in a presentation before Rokke spoke.