Energy Sector

Barakah Nuclear Power Plant in Abu Dhabi Launched

Barakah Nuclear Power Plant in Abu Dhabi Launched

The first nuclear power plant in UAE has been successfully launched in Barakah, Abu Dhabi. The nuclear plant has been built by a consortium led by the Korea Electric Power Corporation.

Gas Pipeline Company Williams Cos Slash Quarterly Dividends

Tulsa, Oklahoma based Williams Cos; the natural gas pipeline company slashed its quarterly dividend by sixty nine percent in order to be able to reinvest almost $1.7 billion into Williams Partners till 2017. The affiliated company requires greater financial flexibility within that period.

While announcing its Q2 earnings statement on Monday, Williams said it reduced its payout from 64 cents to 20 cents. Reportedly, the reduction came for the first time in almost ten years.

New York’s Public Service Commission Approves Clean Energy Plan

Governor Andrew Cuomo's ambition to see New York as a national leader in cutting down pollution from power generation, gets a new push. On Monday, the state's Public Service Commission approved and passed a new set of standards which aims at ensuring that at least half of New York's energy comes from renewable sources by 2030. That includes sources like solar, wind and also hydro plants. In those, some amount of energy can be also counted in from off-shore winds along the coasts and geothermal power.

NextEra Agrees to Buy Bankrupt Energy Future Holding’s Stake in Oncor Electric Delivery Co

June Beach, Florida based Power producer NextEra Energy Inc said it agreed to acquire bankrupt Energy Future Holdings Corp's stake in Oncor Electric Delivery Co for $18.4 billion.

Solar Impulse 2 concludes global journey in Abu Dhabi

TheSolar Impulse 2 aircraft, which is entirely powered by solar power, has successfully concluded its 16-month journey around the world in the city of Abu Dhabi.

Solar Power Floods California Grid with Record 8,030 Megawatts Electricity

The booming renewable energy industry in California had a really bright day this week. The California Independent System Operator or ISO, the state's biggest power grid managed to generate a record amount of solar energy which is sufficient for providing  power to more than two million homes.