Global demand for electricity is on the rise. In fact, according to the International Energy Agency (IEA), “Global electricity demand surged in 2021, creating strains in major markets, pushing prices to unprecedented levels and driving the power sector’s emissions to a record high. Electricity is central to modern life and clean electricity is pivotal to energy transitions, but in the absence of faster structural change in the sector, rising demand over the next three years could result in additional market volatility and continued high emissions.” That’s where companies such as Global PoleTrusion Group (OTC: GPGC), Brookfield Renewable (TSX: BEP) (NYSE: BEP), NextEra Energy (NYSE: NEE), Xcel Energy (NASDAQ: XEL), and CleanSpark Inc. (NASDAQ: CLSK) may be able to assist.
Look at Global PoleTrusion Group (OTC: GPGC), For Example.
Global PoleTrusion Group Corp. received written confirmation from Tanzania Electric Supply Company Limited (TANESCO) of its intention to engage in a partnership for the manufacture of composite poles and distribution structures. It further confirms that this will be part of the initiative of the Tanzanian government to enhance the availability of electric materials for electrification and grid expansion projects.
TANESCO is a parastatal organization established in 1931 for the purpose of generating, purchasing, transmitting, distributing, and selling electricity to Tanzania Mainland. It sells bulk power to the Zanzibar Electricity Corporation (ZECO).
The GPGC team has been requested to attend a meeting in Tanzania, to cover details of the commercial terms and the technical parameters. This follows the announcement on April 28, 2022, that the Ministry of Energy of Tanzania has authorized the formation of a partnership between GPGC and TANESCO.
Ramiro Guerrero, President and CEO of GPGC adds “This is a great advancement towards our goal to produce distribution poles and transmission towers in Tanzania. This will provide us with the opportunity to set up a manufacturing plant for our products derived from composite materials using pultrusion technology.’’
In other parts of the market:
Brookfield Renewable Partners reported financial results for the three months ended March 31, 2022. “Our business performed well in the quarter as we delivered solid financial results and executed on several key strategic initiatives, including entering a new decarbonization asset class with an investment in carbon capture solutions,” said Connor Teskey, CEO of Brookfield Renewable. “With decarbonization and energy security firmly established as a priority of global leaders, we are well positioned to deploy capital at accretive returns, leveraging our global reach, operating capabilities and development pipeline to accelerate the build-out of clean energy at scale and drive decarbonization across a growing opportunity set.”
NextEra Energy, Inc. and NextEra Energy Partners will host an investor conference from 8:30 a.m. to 12:30 p.m. ET on Tuesday, June 14 in New York City. Members of NextEra Energy’s and NextEra Energy Partners’ senior executive management team plan to discuss, among other topics, earnings expectations for NextEra Energy and distribution expectations for NextEra Energy Partners.
Xcel Energy declared a quarterly dividend on its common stock of 48.75 cents per share. The dividends are payable July 20, 2022, to shareholders of record on June 15, 2022. Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies.
CleanSpark, Inc., a sustainable bitcoin mining and energy technology company, reported financial results for the three and six months ended March 31, 2022. “The theme for this quarter has been operational and financial execution,” said Zach Bradford, Chief Executive Officer. “While the whole industry faced macro headwinds, primarily driven by a lower average bitcoin price, we continued to execute on our infrastructure-first strategy. We have line-of-sight on 600MW of power, driven in large part by the recent agreement we signed with Lancium at the end of the quarter. We continue to make strides in our commitment to ESG principles, most notably by working on attracting and retaining a diverse and highly qualified workforce. As for our capital strategy, our growth capex was funded 100% from the conversion of bitcoin. We have not utilized the shelf offering since November and we continue to right size our capital structure through means of non-dilutive capital.”
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