Dow Jones Business News: General Electric Co. Has Struck a Deal to Install New Lights at 5,000 JPMorgan Chase & Co. U.S. Bank Branches
Current, a new GE business that sells LED lighting systems, estimates that, once installed, the new lights could reduce the banking giant's lighting-related energy use in its branches by 50%. Under the deal, Current will replace some 1.4 million existing lights with LEDs, covering 25 million square feet, over the coming two years. No value for the deal was released.
The deal also is a shot in the arm for Current, which is based in Boston and represents a new front in GE Chief Executive Jeff Immelt's effort to revive the industrial offerings and shake up the public image of his company.
PRNewswire: SunEdison Takes Actions to Focus Solar Materials Operations on Asset-Light Strategy
SunEdison, the largest global renewable energy development company, today provided an update on its previously articulated strategy to refocus its Solar Materials operations on asset-light proprietary silicon production technologies via partnerships and joint ventures designed to enhance profitability while preserving high efficiency, cost effective solar panels supply to its downstream solar development platform.
Toward this goal, SunEdison is selling its Kuching, Malaysia silicon wafer production facility; plans to close its Pasadena, Texas polysilicon production facility; will refocus its Portland, Oregon operations into a cost-effective R&D and technology demonstration center; and said its SMP joint venture is on track to meet key polysilicon production and cost targets.
The Wall Street Journal: L.A.-Area Natural Gas Leak Finally Capped, But New Problem Emerges
California officials said Thursday that a massive natural-gas leak west of Los Angeles that displaced several thousand residents has been plugged after nearly four months.
But officials said they now are worried Southern California may not have enough gas instorageto furnish power plants with the fuel they may need this summer, possibly resulting in electricity shortages.
California relies on natural gas for much of its electricity. The Aliso Canyon underground storage facility, on the western edge of Los Angeles County, is the fifth-largest such site in the U.S.
EY: Deal Value Hits Six-Year High as Utilities Seek Growth Through Renewables And Cross-Sector Convergence
Global power and utilities transaction activity maintained momentum in the fourth quarter with deal value ending 2015 up 13% from 2014 at $200 billion -- a six-year high, according to EY's Power Transactions and Trends: 2015 Review and 2016 Outlook.
Renewables accounted for 50% of transactions, with 245 deals generating $68 billion, showing that investors around the world remain focused on adding wind and solar assets to their portfolios to comply with regulations and reduce exposure to increasingly volatile commodities.