Latest news with #ENGIE
Yahoo
14 hours ago
- Business
- Yahoo
The UI will use parts of $15M in funding on an art building reno, exercise oncology clinic
Tapping into its nearly $1 billion public-private partnership (P3) endowment fund, the University of Iowa plans to invest $15 million to support various projects across campus, anchored by a renovation, a new clinic, and initiatives aimed at staff retention. The P3 funding originated in 2020, when the Iowa Board of Regents approved the University of Iowa to enter a 50-year partnership with ENGIE North America and Meridiam. More: Finding connection and healing, how a free Iowa City yoga class is helping curb addiction ENGIE paid $1.1 billion upfront to manage the UI's utility system for 50 years. In 2020, the university spent $153 million to pay off existing debt and $13 million to cover consulting fees. The remainder of the upfront payment, around $999 million, will go into an endowment to fund the University of Iowa's Strategic Plan. The five priorities for the 2022-2027 plan include: excellence in teaching and learning, innovative research and creative discovery, welcoming environment, holistic well-being and success, and transformative societal impact. "The P3 program helps us turn great ideas into real progress," said Kevin Kregel, executive vice president and provost, in a news release. "By aligning our investments with areas of need and opportunity, we are achieving new levels of student success, faculty excellence, and impact across the university." The endowment allows "the university to invest about $15 million per fiscal year." Here is how the University of Iowa will use the $15 million in fiscal year 2026: The University of Iowa is investing $3 million to renovate the Performing Arts Annex (formerly the Old Museum of Art) at 150 North Riverside Drive, which will become the home of the Department of Dance. The $37 million renovation that will transform the 88-year-old building into the new home of the UI's Graduate College, the College of Education—Art Education and Maker Space, and the School of Planning and Public Affairs. The university previously used $6 million in P3 funds to support the project. More: University of Iowa plans $37M Art Building renovation to house grad college, college of education The building sustained significant flood damage in 2008 and was restored to its original state with Federal Emergency Management Agency funds. Work on the latest renovation started in February. The project will be substantially complete by August 2026. The University of Iowa will take on a three-year, $642,896 project to create an exercise oncology clinic. The clinic will focus on "improving the health and quality of life for cancer survivors" through "personalized exercise programs and advanced imaging technology." More: The University of Iowa's College of Law has promoted its interim dean. What to know The clinic will be part of the Department of Health and Human Physiology and serve as "a clinical research hub" exploring the benefits of physical activity in rehabilitation for cancer survivors. The University of Iowa's remaining $11.36 million in P3 funding will support "additional strategic plan initiatives throughout the year," according to a news release. However, $4 million of the reserved funds will support the "High Impact Hiring Initiative," which aids in recruiting and retaining elite faculty across colleges and departments. More: A new country bar moves in, Fieldhouse finds a new home in downtown Iowa City shakeup The University of Iowa has invested P3 funds into the "High Impact Hiring Initiative" since 2021, supporting "75 faculty recruitments and 32 retentions across 10 colleges." Jessica Rish is an entertainment, dining and education reporter for the Iowa City Press-Citizen. She can be reached at JRish@ or on X, formerly known as Twitter, @rishjessica_ This article originally appeared on Iowa City Press-Citizen: How is the University of Iowa planning to spend $15M in funding?
ABC News
15-06-2025
- Business
- ABC News
Australians struggling to pay energy bills face 'major inconsistencies' in retailer responses
Energy customers struggling to keep up with their bills face "major inconsistencies" in how retailers respond, leaving many missing out on support, a survey of financial counsellors has found. That's despite formal hardship frameworks being a legal requirement for energy retailers. An Australia-wide survey of 400 financial counsellors, who work on behalf of consumers facing financial difficulty, has revealed inconsistent practices by retailers. Key failings include a lack of proactive support, burdensome eligibility checks for assistance schemes, inflexible repayment plans and misused disconnection processes. "It's a wake-up call for regulators and industry and governments to think about the impact energy prices and the quality of energy hardship support has on customers," said Zyl Hovenga-Wauchope, the chief executive of Financial Counselling Victoria, which organised the survey. The report, which received input from financial counselling peak associations around the country, scored each energy retailer, and has ranked them from best to worst. Western Australia's Synergy was the top performer, while French-owned ENGIE performed poorly. "ENGIE is a strong example of poor performance across a range of factors," Mr Hovenga-Wauchope said. Counsellors rated the performance of retailers on a 10-point scale. A score was established by taking the percentage of high ratings and subtracting the percentage of low ratings, before the retailers were ranked by score. The major reasons the survey respondents gave for rating retailers poorly included rejection of hardship arrangements and inflexibility, and difficult-to-access schemes. Sarah Duane, a financial counsellor working in the Western suburbs of Melbourne, has seen firsthand the varying responses of retailers to energy customers. She described one of the worst examples she had seen, involving a small energy company refusing to engage with counsellors on behalf of a customer, and instead continuing to "contact the traumatised client directly with demands for payment, when the client had already been evicted from her home and was living in her car". The case was only resolved and the debt waived after a complaint to the Energy and Water Ombudsman in Victoria. However, Ms Duane has also encountered instances of hardship processes working well for people experiencing family violence. "Some retailers will respond empathetically and provide very reasonable payment plans, and in some cases, debt waivers — without requiring excessive evidence of their hardship," she said. In the survey, the primary reasons given by counsellors for higher ratings included empathy and flexibility shown towards customers experiencing difficulty, as well as a positive experience working with the hardship teams. It comes at a time when around 40 per cent of Australians are finding it difficult to pay their home energy bill, according to data analysed by advocacy body Energy Consumers Australia. Despite many customers reporting financial stress when it comes to power prices, a far smaller portion have access to official hardship measures. "About 1 to 1.5 per cent of customers generally fall into the definition of hardship," Louisa Kinnear, chief executive of the Australian Energy Council, which represents retailers, told ABC News. Last month, the Australian Energy Regulator released its default market offer, which limits what retailers can charge customers, which could see prices lift anywhere from 0.5 per cent to 9.7 per cent, depending on where users are located. While the federal government's energy bill relief has been extended until the end of the year, Ms Kinnear said it will be an adjustment for customers as it rolls off. "We wouldn't necessarily expect a significant increase in hardship numbers, but that's certainly something that retailers monitor and that we're very aware of. "We need to make sure that communications with customers at the time that the relief does come off are clear and customers understand the impacts of that." The survey found the energy industry performs worse in responding to financial hardship compared to other sectors. Only 12 per cent of financial counsellors rated energy companies as "excellent" at responding to hardship, compared to 36 per cent for water providers and 31 per cent for banks. "We're looking at our friends in banking and water … what they're doing well and where we can learn from them," Ms Kinnear said. Customers who have issues with the way their retailer responds can contact the energy ombudsman scheme in their state or territory. Financial counsellor Ms Duane also noted that people experiencing issues paying energy bills could be facing financial hardship more broadly. Consumer advocates say there must be reforms in the energy sector to better protect customers. "Different state regulators have different requirements of what hardship looks like," Financial Counselling Victoria's Mr Hovenga-Wauchope noted, saying the complex regulatory environment complicated the situation for consumers and retailers. The Australian Energy Council's Ms Kinnear argued that in some cases, state-based regulations, particularly around the language staff must use when communicating with customers, meant the assistance offered couldn't be well tailored to individual needs. "It can actually be counterproductive for those experiencing hardship. The scripting that's required, based on the regulations on the East Coast, often is difficult for customers in hardship to understand," she said. "We've certainly been engaging with regulators and consumer groups around how we can actually improve those regulations so that they actually help customers rather than hinder them. The report called for retailers to do more to identify customers at risk of financial hardship by using the data available to them, as well as improve training. "Retailers should train their staff in trauma-informed and culturally safe practices, proactively apply concessions and grants, offer flexible payment plans, and provide tailored energy efficiency advice," it recommended. It reiterated that disconnections should be a "genuine last resort", which Ms Kinnear agreed should already be the case. "Certainly, I think we can look at ways to ensure more consistency about how retailers approach disconnection. But my experience is that the majority of retailers don't look to disconnection until there's basically no engagement from the customer."
Al Etihad
29-05-2025
- Business
- Al Etihad
World Utilities Congress 2025: Exhibitors and speakers show how innovation is powering the future of utilities
30 May 2025 00:16 SARA ALZAABI (ABU DHABI)Exhibitors and speakers at the World Utilities Congress 2025 offered Aletihad insights into breakthrough technologies and bold strategies redefining the future of Technology Innovation Institute (TII) has introduced Synthetic Aperture Radar (SAR) drone-mounted technology that has been used in detection of underground water leaks at depths up to 40 metres without the need to dig Lead Researcher Luciano Oliveira said: 'The origin of TII SAR began with a clear and urgent challenge: how can we see what's happening beneath the surface accurately, efficiently and at scale?'TII's drone-based SAR differs from conventional satellites with its low altitude - a flexible way of operating and deeper ground penetration.'We integrated SAR into UAV platforms, allowing for high-resolution subsurface imaging,' he how it works, Oliveira added: 'TII SAR sees underground using radar waves. When water leaks, it changes the soil's properties, much like how a cloth darkens when wet. With AI, we can distinguish actual leaks from natural moisture and detect issues long before they reach the surface.'He highlighted the system's precision: 'We combined long-wavelength radar with drone flexibility. It is capable of identifying buried features, including moisture anomalies and underground structures.'After field testing, Oliveira said the tool 'performed well in detecting subsurface changes across different environmental conditions.'This technology reduces non-revenue water loss and boosts infrastructure efficiency.'Presenting the breakthrough at the World Utilities Congress, Oliveira said: 'We are not just unveiling a new tool; we are presenting a strategic solution to global challenges around infrastructure resilience and water security.'François Xavier Boul, Managing Director for ENGIE's Renewables and Batteries division in the MENA region, highlighted the company's focus on developing large-scale solar PV, battery storage systems and low-carbon desalination to help decarbonise critical infrastructure and support national transition the Congress, ENGIE highlighted its full project lifecycle capabilities: 'We are developing, financing, constructing, owning and operating power and water projects. We bring the most advanced technologies and secure projects from the early stages,' he said ENGIE's current projects include photovoltaic (PV), wind and battery storage projects, as well as advanced reverse osmosis (RO) desalination technologies.'Batteries are evolving fast - similar to how PV progressed a decade ago,' he is also exploring high-efficiency gas turbines with lower carbon footprints to support decarbonisation goals.'We are offering decarbonised solutions throughout the energy chain,' Boul said. 'That is the future.'He also highlighted the shifting trends in the energy sector in Abu Dhabi.'Abu Dhabi has been a pioneer. There has always been a strong focus on energy efficiency, and the grid here is among the most efficient in the world. With more renewables and nuclear coming online, Abu Dhabi continues to lead the energy transition.'He pointed to rising investments in grid stability and battery storage, including ENGIE's recent 800 MWh bid: 'We're seeing more battery deployment as part of building the energy systems of the future.'Boul added: 'The future is decarbonised. ENGIE's 2045 net zero target is one of the world's most ambitious - and we are on track, pushing boundaries to deliver innovative, low-carbon solutions.'Charles-Edouard Mellagui, CEO of the Cable Business Unit at Ducab, explained the company's vital role in clean energy: 'Without our cables, this transition cannot happen. You can build capacities, but you cannot use them unless power is transmitted.'Ducab aligns with the UAE's 2030 energy vision.'We are part of the UAE's mission to triple renewable energy capacity by 2030 - from 4,000 to 12,000 gigawatts,' he said, but warned, 'Copper is limited. That is why circular economy and innovation are crucial.'He highlighted rising energy demand driven by AI: 'A Chat GPT query consumes 3MWh compared to 0.3 for a Google search. That's 10 times more power. This is a megatrend.'On grid reliability, he said: 'Solar and wind are intermittent. We need storage and intelligence to avoid waste… That is the power of interconnectivity.'Mellagui continued: 'Our focus is on sustainable solutions, not just products… What if there's no copper left? That's why recycling is our future.'Factories emit CO2, but that CO2 can become a resource… It is not waste; it is opportunity,' he added.'Sustainability, interconnectivity, smart energy, storage and carbon capture - these are the pillars shaping the future of energy.'Speaking at the World Utilities Congress 2025, Oxana Dankova, Partner and Global Lead of Energy Networks at BCG, outlined how technology and consumer behaviour are reshaping energy systems.'The concept of flexibility today is about solving two key challenges,' she said.'First, matching supply and demand in time. Second, maintaining the grid's stability as we scale volatile renewables.'She stressed the importance of digital solutions: 'AI is essential. We need to simulate and react in real time... and no human can do that manually.'On storage, she said: 'Storage helps shift generation to meet demand, and it can inject power instantly to stabilise the grid.'Noting the infrastructure hurdles, Dankova said: 'We need to build five to six times more grid… That creates huge pressure on supply chains and skilled labour.'She added: 'Hydrogen could be a long-term storage solution… But the cost of electrolysers must drop.' Turning to the future, she noted: 'Abu Dhabi has the land, sun and ambition… Consumer flexibility - like when we charge EVs - will help us avoid overburdening the grid.'
Yahoo
27-05-2025
- Business
- Yahoo
EDP Brasil to sell remaining 20% stake in Pecem coal plant
EDP Brasil, a subsidiary of utility company EDP, has signed an agreement with Brazilian energy company Diamante Geração de Energia to sell its 20% stake in Pecem Geração de Energia, which owns and operates the Pecem coal plant. The 0.20bn reais ($35.4m) transaction signifies EDP's complete exit from the coal-fired power plant in the Brazilian state of Ceará. The Pecém complex spans 17,000 hectares and features complete infrastructure to install new enterprises. EDP divested 80% of its stake in Pecém to a consortium of Brazilian investors led by Mercurio Asset at the end of 2023. The sale of the remaining stake in Pecém is part of its broader strategy to decarbonise its operations. The transaction is subject to regulatory approvals and customary conditions. Despite divesting from the coal-powered segment of the Pecém complex, EDP will retain full control of the renewable hydrogen project within the same complex. This project produced the first molecule of green hydrogen in December 2022 - a first for both EDP Group and Brazil in their energy transition efforts. EDP is pursuing energy conversion plans across its facilities in Brazil, Portugal and Spain. The company is also investing in the development of sustainable energy solutions, with a particular focus on green hydrogen. In March 2025, ENGIE Brasil Energia signed an agreement with EDP to acquire two hydropower plants in northern Brazil for 2.9bn reais: 2.3bn reais in equity value and 671,000 reais in net debt. "EDP Brasil to sell remaining 20% stake in Pecem coal plant" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Engie slows US renewable energy projects amid tariff uncertainties
French utility company Engie is reducing the pace of new renewable energy projects development in the US due to uncertainties surrounding tariffs on imported solar and battery materials, as reported by Reuters. Engie's finance chief Pierre-Francois Riolacci expressed concerns over the difficulty in determining the final price for customers, which has led to this strategic slowdown. Despite the delay in new projects, Engie's existing development pipeline remains unaffected. The company is seeking clarity on the Inflation Reduction Act (IRA) for future projects that have not yet reached the final investment decision stage. Engie CEO Catherine MacGregor highlighted the importance of the IRA, which aims to boost the US green energy economy, and noted that capital could be redirected to other markets such as Brazil, Australia, India and the Gulf states if uncertainties persist. The company had 8.5GW under construction across more than 100 projects under renewables and BESS at the end of March 2025. Engie reported a 0.5% increase in earnings before interest and tax (EBIT) to €3.7bn ($4.14bn), excluding nuclear power, in the first quarter of 2025. However, Engie's finance chief cautioned that full-year EBIT might not match the strong performance of the first quarter, which benefited from high gas and power prices and increased winter demand. The company maintains its 2025 forecast for net recurring income of €4.4bn to €5bn. ENGIE North America has teamed up with funds managed by CBRE Investment Management (IM) on a 2.4GW portfolio of battery storage assets in the US states of Texas and California. ENGIE will retain a controlling share and continue to operate and manage the portfolio, which comprises 31 projects across territories of the Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO). ENGIE North America chief renewables officer and senior vice-president Dave Carroll stated: "We are delighted that ENGIE and CBRE IM are partnering in this industry-leading transaction, supporting 2.4GW of storage that will support the growing demand for power in Texas and California. 'The scale of this portfolio reflects ENGIE's commitments to meeting the energy needs of the US and increasing the resilience of the ERCOT and CAISO grids." In early May 2025, NHOA Energy, together with ENGIE, commenced construction of a 400 megawatt-hour (MWh) BESS in Kallo, Beveren, Belgium. "Engie slows US renewable energy projects amid tariff uncertainties" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
