Bloomberg: Enel Offers 3.1 Billion Euros of Stock to Repurchase Green Unit
Enel SpA, Italy’s biggest utility, plans to issue 3.1 billion euros' ($3.3 billion) worth of shares to repurchase the renewable energy developer it sold to the public in 2010, a step to integrate a business whose earnings are booming.
Enel offered 0.486 of its stock for each share of Enel Green Power SpA to consolidate the 30 percent of the company it doesn’t already own. Enel raised about 2.26 billion euros in November 2010 when it first sold stock in the builder of wind and solar plants.
The deal allows Enel to tap the quicker growth of its green power unit at a time when the stock market performance for renewables companies has been lackluster.
Washington Post: Why Leasing Solar Panels May Not Be a Good Idea if You're Planning a Home Sale
As solar-powered homes come on the market for sale, unexpected issues are bubbling to the surface. What’s more, almost all of the issues are happening to homeowners who lease rather than own the solar panels, which make up an estimated range of 60 percent to 90 percent of the market.
“My seller couldn’t believe what I was telling him,” said Yolanda Muckle, a real estate agent in Mitchellville, Md. “The solar panel company wanted $32,000 to buy out the lease if a buyer did not agree to sign the transfer agreement.”
Muckle said her clients had just signed a 20-year lease agreement prior to listing the house for sale. They had more than 19 years left on the lease.
USA Today: White House Pushes Community Solar as Rooftop Alternative
The White House hosted a summit Tuesday to bring together major solar players to figure out ways to expand retail solar power from traditional rooftop arrays to a model in which households and businesses invest in shared solar systems. The administration announced that 68 cities, states and businesses had signed on to a White House initiative to promote community solar, with an emphasis on low- and moderate-income households.
Those commitments are expected to bring solar power to more than 20,000 households in 21 states, the White House said.
Climate Progress: Senate Passes Resolutions to Kill Obama’s Power Plant Rule
The Senate approved two resolutions Tuesday to stop the EPA from implementing the Clean Power Plan, a rule that limits the amount of carbon allowed from the electricity sector.
If -- or more likely, when -- the resolutions reach his desk, President Obama will veto them, making Tuesday’s vote obviously symbolic, even to the senators participating. A combined version of the resolutions, which apply separately to new power plants and existing ones, is already being considered in the House.
The Hill: 'War on Coal' Talk Cools in 2016 Campaign
In 2012, GOP presidential candidates accused President Obama of waging a war on the coal industry.
Three years later, coal is largely taking a back seat in the Republican race for the White House.
GOP candidates instead are calling for an increase to oil and natural gas production while they promise to roll back Obama’s regulations, some of which affect the coal industry. A number of factors could explain the shift.