Ørsted, world’s largest wind developer, sees growth opportunities in current market upheaval

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Ørsted A/S, the world’s largest wind farm developer, is sticking to its growth strategy and financial guidance amid the coronavirus pandemic and said it could even eke out an advantage as others in the market step on the brakes.While the Danish utility has put into place cautionary measures to help buffer the impact of the crisis, including increasing its provisions and conducting wide-ranging risk assessments on new projects, executives said the company’s EBITDA guidance range for 2020 of between 16 billion kroner and 17 billion kroner will remain intact, and its appetite for building new projects will stay strong.“We believe financially robust companies that maintain a long-term view on the market are likely to find additional opportunities in the wake of the current crisis,” CEO Henrik Poulsen said April 29 on the company’s first-quarter earnings call.Ørsted saw substantial earnings growth during the first quarter, largely powered by strong wind resources. “We are in a much less vulnerable position than many other sectors that regrettably are deeply impacted by this crisis,” Poulsen said. “However, the impact of COVID-19 will have material ripple effects throughout all economies and sectors. And you can rest assured that we will not be complacent about its potential impact on Ørsted.”In the short term, however, several Ørsted projects risk construction delays due to supply chain disruption, specifically because tools were laid down at a shipyard in Singapore that was building substations for the Hornsea 2 and Greater Changhua offshore wind farms. Deliveries of solar panels for the Permian Energy solar project in the U.S. are also delayed, Poulsen said.Despite this, Ørsted’s appetite for taking new projects remains strong. “We are still looking into a very significant number of auctions and tenders in 2020 and 2021 as most countries and states stick to the original timeline despite the COVID-19 situation,” Poulsen said.[Camilla Naschert]More ($): Ørsted doubles down on growth ambitions as others retreat due to COVID-19 Ørsted, world’s largest wind developer, sees growth opportunities in current market upheavallast_img read more

Congress should be helping Puerto Rico, not hurting it

first_imgThe supposed goal is to protect and create American jobs.But as Puerto Rico Gov. Ricardo Rosello told us, it would actually kill American jobs in Puerto Rico, devastating an already struggling economy.“Unconscionable,” he said of the proposals, pointing out how members of Congress have traveled to Puerto Rico, seen the catastrophic damage and promised help. “True hypocrisy,” he said.Full details of final legislation being worked out by House and Senate negotiators have yet to be released, so it’s unclear how the residents of Puerto Rico will be treated.Here’s an idea: How about treating them like the Americans they are?Drop these unfair taxes and, while Congress is at it, approve the federal aid needed to get Puerto Rico on its feet.More from The Daily Gazette:EDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Urgent: Today is the last day to complete the census Categories: Editorial, OpinionDuring his visit to Puerto Rico in the aftermath of Hurricane Maria, President Donald Trump hailed the low number of people killed.“Sixteen people certified. Sixteen people versus in the thousands,” he said with some relief about the official death toll, a number that has since been raised to 64.It is now becoming increasingly clear, though, that those numbers are inaccurate.  Far more people died as a result of the storm, and others remain imperiled by life-threatening conditions as Puerto Rico still struggles to recover from back-to-back storms that hit three months ago.The island — home to more than 3 million Americans — needs all the help it can get.But the bad situation there threatens to get even worse if Republican lawmakers persist with a tax-reform bill that would devastate Puerto Rico’s economy with crippling new taxes.The magnitude of the damage suffered by Puerto Rico was underscored with a report from the New York Times that called into question the official death count from Hurricane Maria.Data analysis by the newspaper found that 1,052 more people than usual died on the island during the 42 days after Maria made landfall on Sept. 20.People suffering from certain chronic conditions, such as diabetes, died at higher rates, and there was a surge in deaths from sepsis, a complication of severe infection.Delayed medical treatment and poor conditions in homes and hospitals — notably lack of power or access to safe drinking water – are suspected as playing a role.center_img While there has been some progress, conditions are still grim.Only 64 percent of the power grid has been restored.The human impact of that statistic was poignantly detailed by “Hamilton” creator Lin- Manuel Miranda in a Washington Post op-ed, which describes his uncle going 85 days without being able to turn on a light, stock a refrigerator or take a hot shower.Times reporter Sheri Fink visited a senior-citizen complex without power where vulnerable residents have fallen in the dark, medications are missed and special diets go by the wayside.Such situations would not be tolerated in any mainland American city or state.The disgraceful treatment of Puerto Rico as an afterthought is evident in tax measures being proposed by the GOP in its overhaul of the tax code.Both House and Senate bills would impose new taxes on U.S. companies with operations in Puerto Rico, lumping the U.S. territory into the same category as foreign countries.last_img read more

Indians erect banners, pray for Kamala Harris to win US election

first_imgHarris, born to an Indian mother and a Jamaican father who both immigrated to the United States to study, made history last week when US Democratic presidential candidate Joe Biden picked her as his vice president.Ramanan, who goes by only one name, said Harris’ maternal grandfather P.V. Gopalan, a former high-ranking Indian government official, donated funds to the temple when he visited.On annual trips to India as a child, Kamala Harris would go for strolls with her maternal grandfather and his friends. In a speech in 2018, Senator Harris recalled those early visits to her grandparents in India.Further south, in Tamil Nadu’s Rameswaram town, priests held special rituals and prayed for Harris’ victory.”Kamala Harris – she is of Indian descent, she should win the election and also should be in favour of India,” said Ananthapadmanaba Sharma, a priest at the Ramanathaswamy temple.”We will do all kinds of worship and the Lord will answer our prayers for her victory,” Sharma said.Topics : Indians in the southern state of Tamil Nadu, which US vice president hopeful Kamala Harris visited as a kid, erected banners, held special prayers and wished her success.Villagers in Painganadu, Harris’ ancestral village, put up banners of Harris. Harris’ mother, who migrated to the United States to study, traces her roots to this non-descript hamlet in eastern Tamil Nadu.”They (Kamala Harris) have gone to the level of contesting for a vice-presidential candidate in America. Naturally, the villagers are very happy,” Ramanan, a trustee at a local temple, told Reuters Television.last_img read more

Cross country striving for 7 straight in Purdue

first_imgAs temperatures decrease, the Badgers men’s cross country team is peaking at the right time. Coming off a record-setting 10th consecutive Big Ten Championship — the first under new head coach Mick Byrne — the team is making strides.This weekend they travel to West Lafayette, Ind., to run in the Great Lakes Regional Championships, a meet hosted at Purdue University, a place where the Badgers have won six consecutive times. To advance to the national championship, the Badgers need to finish within the top two to automatically qualify.The Badgers have numerous runners anxious to repeat their winning tradition. This past week, Byrne earned the title of Big Ten coach of the year, while sophomores Landon Peacock, Jack Bolas and senior Christian Wagner all garnered first team All-Big Ten honors. Stu Egan and Craig Miller each earned second team all-Big Ten.Peacock will undoubtedly use the momentum from the Big Ten championship to propel him in this weekend’s regional.“Coming in second at Big Ten is definitely a confidence booster,” Peacock said. “That was probably my best collegiate race so far, so when you have a race like that, you know you’re doing something right.”The depth of this team is exemplified by its last race. A model of consistency all year, senior Matt Withrow struggled at the Big Ten Championship. Filling the void was Peacock, who ran his best race of the year at 24:35, finishing second in the entire tournament.“Stuart Egan and Matt Withrow didn’t have their best days.” Byrne said. “You know the sign of a good team is when two of your top guys are off their top game, and the other guys picked up the slack.”Peacock and Wagner certainly proved they were big time performers.“They were there in the supporting role, but as it turned out, they stepped into the leading role,” Byrne said. “We need solid races from Stuart and Matt [to compete this weekend].”Not only will contributions from the entire team be essential for improving their streak of six consecutive victories, but timing will also play a vital role at the Great Lakes Regional, as only nine seconds separated Peacock from the first place finisher at the Big Ten Championships.“At the Big Ten race, I kind of put on my move a little bit too early, and [for this race] maybe I’ll hold back a little bit longer,” he said.“The overall objective for this tournament is just to go in and get one of those two spots,” Byrne said.The difference between this tournament and the rest of the regular season for the Badgers is that the Great Lakes Regional acts as a stepping stone to the NCAA Championships.“[The goal for this weekends tournament] is just to qualify and move on,” Peacock said. “The goal is just to go out and get our job done. I don’t want to put everything out there on the line because not much more than a week later, we have the national race and that’s the race that really matters.”Looming on the horizon is the NCAA Championships, a plateau the Badgers have had their eyes on for the entire season.“It’s the National Championship,” Byrne said. “We’ve got to go in there healthy; we need to go in there with our big guys firing on all cylinders, and if we do that, we’ll be going in there with five or six kids competing for that national trophy.”last_img read more