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The Indian Resource Panel members in conversation with Preeti Mehra on dealing with resource efficiency

With economic growth and urbanisation taking place at a rapid pace in India, there is increased demand for natural resources, be it land, soil, water or mined materials. With their...

The chemical sector could benefit from a new indigenous technology

Industries, especially in the chemical sector that face the problem of getting rid of waste water, can look forward to some productive options. Thanks to an indigenous technology developed by scientists at the CSIR-IICT...

Ramky Enviro Engineers Ltd uses solid waste to generate electricity

Managing urban waste is a major challenge local bodies and corporations are faced with. What better way than tackling the problem with an integrated waste to energy management project. Ramky Enviro Engineers Limited, a...

A peek at Nissan’s line up of EVs

At Nissan Motor Company, everyone is charged up about electric vehicles.

The Japanese car-maker, already well up on the EV curve, is spending millions of dollars in how the world will move in the not-too-distant future.

‘Intelligent Mobility’ is the mantra,...

India saved 10 GW of capacity thanks to power-saving measures, says M Ramesh

The bygone financial year has left behind a trail of milestones —10 GW of solar installations, 30 GW of wind and 50 GW of all renewable energy (which includes small hydro and biomass). These milestones have been duly...

Vattenfall and BMW have inked a new grid storage agreement.

Country’s utilities and government regulators are focused on aggressive electrification, decentralization, and digitization efforts, report finds

A second structural impediment to fully realizing DER benefits is the current grid planning approach, which biases grid design toward traditional infrastructure rather than distributed alternatives, even if distributed solutions better meet grid needs. Outdated planning approaches rely on static assumptions about DER capabilities and focus primarily on mitigating potential DER integration challenges, rather than proactively harnessing these flexible assets.

Section II demonstrated how California could realize an additional $1.4 billion per year by 2020 in net benefits from the deployment of new DERs during the 2016-2020 timeframe. This state-wide methodology was then applied to the planned distribution capacity projects for California’s most recent GRC request, showing how the deployment of DERs in lieu of planned distribution capacity expansion projects in PG&E’s next rate case could save customers over $100 million. 

Motivated by the challenge faced in designing a grid appropriate to the 21st century, this report first focuses on determining the quantifiable net economic benefits that DERs can offer to society. The approach taken builds on existing avoided cost methodologies – which have already been applied to DERs by industry leaders – while introducing updated methods to hardto-quantify DER benefit categories that are excluded from traditional analyses. While the final net benefit calculation derived in this report is specific to California, the overall methodological advancements developed here are applicable across the U.S. Moreover, the ultimate conclusion from this analysis – that DERs offer a better alternative to many traditional infrastructure solutions in advancing the 21st century grid – should also hold true across the U.S., although the exact net benefits of DERs will vary across regions.

Designing the electric grid for the 21st century is one of today’s most important and exciting societal challenges. Regulators, legislators, utilities, and private industry are evaluating ways to both modernize the aging grid and decarbonize our electricity supply, while also enabling customer choice, increasing resiliency and reliability, and improving public safety, all at an affordable cost.

The share of renewables in overall power generation is rapidly increasing, both in developed and developing countries. Furthermore, many countries have ambitious targets to transform their power sector towards renewables. To achieve these objectives, the structure and operation of existing power grid infrastructures will need to be revisited as the share of renewable power generation increases.

Renewable energy technologies can be divided into two categories: dispatchable (i.e. biomass, concentrated solar power with storage, geothermal power and hydro) and non-dispatchable, also known as Variable Renewable Energy or VRE (i.e. ocean power, solar photovoltaics and wind). VRE has four characteristics that require specific measures to integrate these technologies into current power systems: 1) variability due to the temporal availability of resources; 2) uncertainty due to unexpected changes in resource availability; 3) location-specific properties due to the geographical availability of resources; and 4) low marginal costs since the resources are freely available.

A transition towards high shares of VRE requires a re-thinking of the design, operation and planning of future power systems from a technical and economic point of view. In such a system, supply and demand will be matched in a much more concerted and flexible way. From a technical perspective, VRE generation can be ideally combined with smart grid technologies, energy storage and more flexible generation technologies. From an economic perspective, the regulatory framework will need to be adjusted to account for the cost structure of VRE integration, to allow for new services and revenue channels, and to support new business models.

There are several technological options that can help to integrate VRE into the power system grid: system-friendly VREs, flexible generation, grid extension, smart grid technologies, and storage technologies. New advances in wind and solar PV technologies allow them to be used over a wider range of conditions and provide ancillary services like frequency and voltage control. Flexible generation requires changes in the energy mix to optimise production from both dispatchable and non-dispatchable resources. Smart grid technologies can act as an enabler for VRE integration, given their ability to reduce the variability in the system by allowing the integration of renewables into diverse electricity resources, including load control (e.g. Demand Side Management (DSM), Advanced Metering Infrastructure (AMI), and enhancing the grid operation and therefore helping to efficiently manage the system’s variability by implementing advanced technologies (e.g. smart inverters, Phasor Measurement Unit (PMU) and Fault Ride Through (FRT) capabilities).

Energy storage technologies can alleviate short-term variability (up to 2 Renewable Energy Integration in Power Grids | Technology Brief several hours), or longer-term variability through pumped-storage hydroelectricity, thermal energy storage or the conversion of electricity into hydrogen or gas.

Two immediate applications for deploying innovative technologies and operation modes for VRE integration are mini-grids and island systems. The high costs for power generation in these markets make VREs and grid integration technologies economically attractive since they can simultaneously improve the reliability, efficiency and performance of these power systems. This is, for example, the case of the Smart Grid demonstration project in Jeju Island, South Korea.

Furthermore, the right assessment and understanding of VRE integration costs are relevant for policy making and system planning. Any economic analysis of the transition towards renewables-based power systems should, therefore, consider all different cost components for VRE grid integration, such as grid costs (e.g. expansion and upgrading), capacity costs and balancing costs. Integration costs are due not only to the specific characteristics of VRE technologies but also to the power system and its adaptability to greater variability. Therefore, these costs should be carefully interpreted and not entirely attributed to VRE, especially when the system is not flexible enough to deal with variability (i.e. in the short-term).

Moreover, RE integration delivers broader benefits beyond purely economic ones, such as social and environmental benefits. Even though not straightforward, these externalities should be considered and quantified in order to integrate them into the decision-making process and maximise socio-economic benefits.

Due to the rapid technological progress and multiple grid integration options available, policy makers should build a framework for RE grid integration based on the current characteristic of the system, developing technological opportunities and long-term impacts and targets. In particular, policy makers should adopt a long-term vision for their transition towards renewables and set regulatory frameworks and market designs to foster both RE development and management of greater system variability. Such regulatory frameworks could include new markets for ancillary services and price signals for RE power generators that incentivise the reduction of integration costs.

Source: IEA-ETSAP and IRENA

The NTECL, a joint venture company between NTPC and Tamil Nadu Electricity Board, is engaged in generation, transmission and distribution of electricity.

A new breed of electrics is out to sex up the car ownership experience, writes S Muralidhar

In the past, hybrids and electrics have been the ugly ducklings of the automotive industry. Over practical, and over focused on efficiency, these cars were somehow designed to be especially drab and...

The energy efficient system in Rashtrapati Bhavan set up by Honeywell promises huge savings on energy consumption and costs associated with it

Rashtrapati Bhavan now has a robust energy efficient system covering its chiller plant, air-conditioning cum energy management system, a retrofit...

A project to clean the mighty river showcases its research in the capital

Imagine the pollution-wrought Yamuna river flowing clean and pristine through the Capital city. Imagine it interspersed by a series of hybrid bridges, cultural corridors and public spaces, promoting equality and harmony...

ATLANTA, April 28, 2017 /PRNewswire/ -- Georgia Power and Westinghouse have extended the interim assessment agreement that will allow work to continue at the site through May 12. During this time, the parties will continue to work on finalizing a new service agreement which would, if necessary, assure that Westinghouse continues to provide design, engineering and procurement services to Southern Nuclear as a part of their assumption of control over construction management.

Georgia Power will continue work to complete its full-scale schedule and cost-to-complete analysis and actively work with the Georgia Public Service Commission and the Co-owners (Oglethorpe Power, MEAG and Dalton Utilities) to determine the best path forward for customers.  The company will continue to take every action available to hold Westinghouse and Toshiba accountable for their financial responsibilities under the engineering, procurement and construction (EPC) agreement and the parent guarantee.

About Georgia Power 
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.5 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, 21st century coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is consistently recognized by J.D. Power and Associates as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this communication is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the potential service agreement with Westinghouse and other future actions related to Plant Vogtle Units 3 and 4. Georgia Power cautions that there are certain factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2016, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the results of Westinghouse's bankruptcy filing, including the effect on the engineering, procurement and construction agreement for Plant Vogtle Units 3 and 4, the construction of Plant Vogtle Units 3 and 4, and the U.S. Department of Energy loan guarantees; state and federal rate regulations and the impact of pending and future rate cases and negotiations; the impact of recent and future federal and state regulatory changes, as well as changes in application of existing laws and regulations; current and future litigation, regulatory investigations, proceedings, or inquiries; available sources and costs of fuels; effects of inflation; the ability to control costs and avoid cost overruns during the development construction and operation of facilities, which include the development and construction of generating facilities with designs that have not been finalized or previously constructed; the ability to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; advances in technology; legal proceedings and regulatory approvals and actions related to Plant Vogtle Units 3 and 4, including Georgia Public Service Commission approvals and Nuclear Regulatory Commission actions; interest rate fluctuations and financial market conditions and the results of financing efforts; changes in The Southern Company's or Georgia Power's credit ratings, including impacts on interest rates, access to capital markets, and collateral requirements; the impacts of any sovereign financial issues, including impacts on interest rates, access to capital markets, impacts on foreign currency exchange rates, counterparty performance, and the economy in general, as well as potential impacts on the benefits of U.S. Department of Energy loan guarantees; and the effect of accounting pronouncements issued periodically by standard setting bodies. Georgia Power expressly disclaims any obligation to update any forward-looking information.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/interim-assessment-agreement-for-vogtle-nuclear-expansion-extended-300448388.html

SOURCE Georgia Power

Related Links

http://www.georgiapower.com

HONOLULU, April 28, 2017 /PRNewswire/ -- American Savings Bank, F.S.B. (American), a wholly-owned subsidiary of Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) today reported net income of $15.8 million for the first quarter of 2017 compared to $16.2 million in the fourth, or linked, quarter of 2016 and $12.7 million in the first quarter of 2016.  

"We are off to a strong start in 2017 as we continue to deliver for our customers and shareholders.  Our first quarter results demonstrate strong core deposit growth, higher net interest income and margins, improved operating efficiency, and better asset quality metrics," said Richard Wacker, president and chief executive officer of American. "Total loans declined slightly, reflecting the completion and payoff of a large commercial real estate construction project and the resolution and payoff of a prior nonperforming commercial loan." 

First quarter of 2017 net income of $15.8 million was $3.1 million higher than the first quarter of 2016 and $0.4 million lower than the fourth (linked) quarter of 2016. 

Compared to the first quarter of 2016, the $3.1 million increase was primarily driven by $3 million (after-tax) higher net interest income mainly due to growth in the commercial real estate and consumer loan portfolios as well as the deployment of strong deposit growth into our investment portfolio.

Compared to the linked fourth quarter of 2016, the $0.4 million decrease was primarily driven by the following on an after-tax basis:

___________________

Note:  Amounts indicated as "after-tax" in this earnings release are based upon adjusting items for the composite statutory tax rate of 40% for the bank.

  • $1 million higher net interest income driven mainly by higher yields in our investment portfolio and growth in our consumer portfolio; and
  • $1 million lower noninterest expense.

These increases were offset by the following on an after-tax basis:

  • $1 million higher provision for loan losses including additional reserves for a commercial real estate relationship in the first quarter of 2017; and
  • $1 million lower noninterest income primarily due to lower mortgage banking income as a result of a reduction in residential mortgage refinancing activity.

Net interest income (pretax) was $54.8 million in the first quarter of 2017, compared to $53.0 million in the linked quarter and $50.4 million in the prior year quarter.  Net interest margin was 3.68% in the first quarter of 2017 compared to 3.59% in the linked quarter and 3.62% in the first quarter of 2016.  The higher net interest margin was primarily attributable to higher yields on interest-earning assets.

The provision for loan losses (pretax) was $3.9 million in the first quarter of 2017 compared to $1.5 million in the linked quarter and $4.8 million in the first quarter of 2016.  As previously mentioned, the increase from the linked quarter was primarily due to reserves for a commercial real estate relationship.  The first quarter of 2017 net charge-off ratio was 0.29%, compared to 0.40% in the linked quarter and 0.21% in the prior year quarter.  The fourth quarter of 2016 net charge-off ratio included charge-offs of specific commercial credits that had been previously individually reserved.  Nonaccrual loans as a percent of total loans receivable held for investment dropped to 0.41% compared to 0.49% in the linked quarter and 1.01% in the prior year quarter.  

Noninterest income (pretax) was $15.1 million in the first quarter of 2017 compared to $16.5 million in the linked quarter and $15.4 million in the prior year quarter, primarily attributable to the decline in mortgage banking activity.

Noninterest expense (pretax) was $41.9 million compared to $43.1 million in the linked quarter and $41.4 million in the first quarter of 2016.

Total loans were $4.7 billion at March 31, 2017 and included growth in the residential and consumer loan portfolio during the first quarter of 2017.  The reduction in our exposure to national credits, a loan payoff connected with a completed construction project, and the resolution and payoff of a prior nonperforming commercial loan contributed to the 1.2% annualized decline in our loan portfolio in the first quarter of 2017.  

Total deposits were $5.7 billion at March 31, 2017, an increase of $126 million or 9.1% annualized increase from December 31, 2016.  Low-cost core deposits increased $140 million or 11.4% annualized increase from December 31, 2016.  The average cost of funds was 0.20% for the first quarter of 2017 compared to 0.22% for the fourth quarter of 2016 and 0.23% for the first quarter of 2016.

American's return on average equity was 10.8% for the first quarter of 2017 compared to 11.1% in the linked quarter and 8.9% in the first quarter of 2016.  Return on average assets was 0.98% for the first quarter of 2017, compared to 1.02% in the linked quarter and 0.84% in the same quarter last year.  American's solid results enabled it to pay dividends of $9.4 million to HEI while maintaining healthy capital levels -- leverage ratio of 8.5% and total capital ratio of 13.6% at March 31, 2017.

HEI EARNINGS RELEASE, HEI WEBCAST AND CONFERENCE CALL TO DISCUSS EARNINGS AND 2017 EPS GUIDANCE

Concurrent with American's regulatory filing 30 days after the end of the quarter, American announced its first quarter 2017 financial results today.  Please note that these reported results relate only to American and are not necessarily indicative of HEI's consolidated financial results for the first quarter of 2017.

HEI plans to announce its first quarter 2017 consolidated financial results on Friday, May 5, 2017 and will conduct a webcast and conference call to discuss its consolidated earnings, including American's earnings, and 2017 EPS guidance on Friday, May 5, 2017, at 8:00 a.m. Hawaii time (2:00 p.m. Eastern time). 

Interested parties within the United States may listen to the conference by calling (844) 834-0652 and international parties may listen to the conference by calling (412) 317-5198.  Parties may also listen to the conference by accessing the webcast on HEI's website at www.hei.com under the heading "Investor Relations."  HEI and Hawaiian Electric Company, Inc. (Hawaiian Electric) intend to continue to use HEI's website as a means of disclosing additional information.  Such disclosures will be included on HEI's website in the Investor Relations section.  Accordingly, investors should routinely monitor such portions of HEI's website, in addition to following HEI's, Hawaiian Electric's and American's press releases, HEI's and Hawaiian Electric's Securities and Exchange Commission (SEC) filings and HEI's public conference calls and webcasts.  The information on HEI's website is not incorporated by reference in this document or in HEI's and Hawaiian Electric's SEC filings unless, and except to the extent, specifically incorporated by reference.  Investors may also wish to refer to the Public Utilities Commission of the State of Hawaii (PUC) website at dms.puc.hawaii.gov/dms in order to review documents filed with and issued by the PUC.  No information on the PUC website is incorporated by reference in this document or in HEI's and Hawaiian Electric's SEC filings.

An on-line replay of the May 5, 2017 webcast will be available on HEI's website beginning about two hours after the event.  Replays of the conference call will also be available approximately two hours after the event through May 19, 2017 by dialing (877) 344-7529 or (412) 317-0088 and entering passcode:  10104146.

HEI supplies power to approximately 95% of Hawaii's population through its electric utilities, Hawaiian Electric, Hawaii Electric Light Company, Inc. and Maui Electric Company, Limited and provides a wide array of banking and other financial services to consumers and businesses through American, one of Hawaii's largest financial institutions.

American Savings Bank, F.S.B.

STATEMENTS OF INCOME DATA

(Unaudited)




Three months ended

(in thousands)


March 31, 2017


December 31, 2016


March 31, 2016

Interest and dividend income







Interest and fees on loans


$

50,742



$

51,203



$

48,437


Interest and dividends on investment securities


6,980



4,965



5,017


Total interest and dividend income


57,722



56,168



53,454


Interest expense







Interest on deposit liabilities


2,103



2,013



1,592


Interest on other borrowings


816



1,172



1,485


Total interest expense


2,919



3,185



3,077


Net interest income


54,803



52,983



50,377


Provision for loan losses


3,907



1,497



4,766


Net interest income after provision for loan losses


50,896



51,486



45,611


Noninterest income







Fees from other financial services


5,610



5,585



5,499


Fee income on deposit liabilities


5,428



5,714



5,156


Fee income on other financial products


1,866



2,144



2,205


Bank-owned life insurance


983



1,017



998


Mortgage banking income


789



1,529



1,195


Other income, net


458



470



333


Total noninterest income


15,134



16,459



15,386


Noninterest expense







Compensation and employee benefits


23,237



22,920



22,434


Occupancy


4,154



4,077



4,138


Data processing


3,280



3,431



3,172


Services


2,360



2,961



2,911


Equipment


1,748



1,745



1,663


Office supplies, printing and postage


1,535



1,644



1,365


Marketing


517



982



861


FDIC insurance


728



839



884


Other expense


4,311



4,539



3,975


Total noninterest expense


41,870



43,138



41,403


Income before income taxes


24,160



24,807



19,594


Income taxes


8,347



8,590



6,921


Net income


$

15,813



$

16,217



$

12,673


Comprehensive income


$

16,648



$

2,540



$

20,310


OTHER BANK INFORMATION (annualized %, except as of period end)





Return on average assets


0.98



1.02



0.84


Return on average equity


10.82



11.09



8.89


Return on average tangible common equity


12.58



12.90



10.39


Net interest margin


3.68



3.59



3.62


Efficiency ratio


59.87



62.12



62.96


Net charge-offs to average loans outstanding


0.29



0.40



0.21


As of period end







Nonaccrual loans to loans receivable held for investment


0.41



0.49



1.01


Allowance for loan losses to loans outstanding


1.19



1.17



1.13


Tangible common equity to tangible assets


7.78



7.82



8.08


Tier-1 leverage ratio


8.5



8.6



8.7


Total capital ratio


13.6



13.4



13.2


Dividend paid to HEI (via ASB Hawaii, Inc.) ($ in millions)


$

9.4



$

9.0



$

9.0



This information should be read in conjunction with the condensed consolidated financial statements and the notes thereto in HEI filings with the SEC. Results of operations for interim periods are not necessarily indicative of results to be expected for future interim periods or the full year.

American Savings Bank, F.S.B.

BALANCE SHEETS DATA

(Unaudited)


(in thousands)

March 31, 2017


December 31, 2016


Assets





Cash and due from banks


$

125,901



$

137,083


Interest-bearing deposits


94,573



52,128


Restricted cash




1,764


Available-for-sale investment securities, at fair value


1,228,922



1,105,182


Stock in Federal Home Loan Bank, at cost


11,706



11,218


Loans receivable held for investment


4,725,271



4,738,693


Allowance for loan losses


(55,997)



(55,533)


Net loans


4,669,274



4,683,160


Loans held for sale, at lower of cost or fair value


10,454



18,817


Other


336,626



329,815


Goodwill


82,190



82,190


Total assets


$

6,559,646



$

6,421,357


Liabilities and shareholder's equity





Deposit liabilities–noninterest-bearing


$

1,696,390



$

1,639,051


Deposit liabilities–interest-bearing


3,978,700



3,909,878


Other borrowings


200,154



192,618


Other


98,223



101,635


Total liabilities


5,973,467



5,843,182


Common stock


1



1


Additional paid in capital


343,435



342,704


Retained earnings


264,381



257,943


Accumulated other comprehensive loss, net of tax benefits





     Net unrealized losses on securities

$

(7,708)



$

(7,931)



     Retirement benefit plans

(13,930)


(21,638)


(14,542)


(22,473)


  Total shareholder's equity


586,179



578,175


  Total liabilities and shareholder's equity


$

6,559,646



$

6,421,357



This information should be read in conjunction with the condensed consolidated financial statements and the notes thereto in HEI filings with the SEC.


Contact:

Clifford H. Chen

Telephone: (808) 543-7300


Treasurer, Manager Investor Relations & Strategic Planning 

E-mail:  This email address is being protected from spambots. You need JavaScript enabled to view it.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-savings-bank-reports-first-quarter-2017-earnings-300448339.html

SOURCE Hawaiian Electric Industries, Inc.

Related Links

http://www.hei.com

HOUSTON, April 28, 2017 /PRNewswire/ -- KBR, Inc. (NYSE: KBR) today made the following statement about the recent announcement of an investigation by the U.K. Serious Fraud Office (SFO). 

In 2016, KBR disclosed that the U.S. Department of Justice ("DOJ") and the Securities and Exchange Commission ("SEC") are conducting investigations of Unaoil, a Monaco based company, in relation to international projects involving several global companies, including KBR, whose interactions with Unaoil are a subject of those investigations.  Earlier this month, KBR received notice from the SFO that they are investigating the same facts and circumstances as the ongoing DOJ and SEC investigation. Following the disclosure of the SFO notice in our recent filing, in line with normal SFO practice, the SFO has issued a press release concerning its investigation.

As is customary, KBR is conducting its own internal investigation as well as cooperating with the DOJ, SEC, and the SFO in their investigations, which include the voluntary submission of information and compliance with formal document requests.

As has been reported previously, following our 2009 guilty plea and settlement with the DOJ and SEC over the legacy TSKJ matter KBR was under a DOJ-approved monitorship during which our compliance program was significantly enhanced and now is extremely robust.  We conducted a thorough review of all international business relationships at the time of the monitorship and only continued with those parties, including Unaoil, that passed our rigorous review and agreed to adhere to all applicable anti-corruption laws. 

At KBR, we believe that conducting business safely, honestly and with integrity is not just the right thing to do; it is the foundation of any lasting business success.  We are proud of KBR's compliance program, Code of Business Conduct, and our culture of integrity. 

KBR's Code is posted at kbr.com on the COBC website.  Translations in multiple languages are available here

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

  • Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
  • Technology & Consulting, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting
  • Engineering & Construction, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU) and program management

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kbr-statement-on-sfo-investigation-300448342.html

SOURCE KBR, Inc.

Related Links

http://www.kbr.com

BUENOS AIRES, Argentina, April 28, 2017 /PRNewswire/ -- Pampa Energía S.A. ('Pampa' or the 'Company'; NYSE: PAM; BCBA: PAMP), the largest independent integrated energy company in Argentina that, through its subsidiaries and joint controlled companies, participates in the electricity and oil and gas value chain, announces today it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2016 (the ''2016 Annual Report'') before the U.S. Securities and Exchange Commission (the 'SEC'). The 2016 Annual Report can be accessed by visiting either the SEC's website at www.sec.gov or the Company's IR website at http://www.pampaenergia.com/ir. In addition, shareholders may receive a hard copy of the Company's 2016 Annual Report free of charge by requesting a copy within a reasonable period of time from Pampa's Investor Relations office, at This email address is being protected from spambots. You need JavaScript enabled to view it..

For further information, contact:

COLUMBUS, Ohio, April 28, 2017 /PRNewswire/ -- AEP Generation Resources Inc. (AEPGR), a competitive generation subsidiary of American Electric Power Company (NYSE: AEP), is seeking proposals for the supply of coal to one or more generating stations.

AEPGR is seeking delivery proposals, FOB barge and FOB Cardinal Plant, beginning in first-quarter 2018 and lasting a term of up to three years. AEPGR is open to alternative pricing structures or other innovative, value-added concepts. Proposals with alternative terms will be accepted. Accepted bids will be at AEPGR's discretion.

Proposal packages must be received by AEPGR no later than 5 p.m., Thursday, May 18, 2017. Proposals can be submitted by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it., or by mail to AEPGR RFP- Coal Proposal, ATTN: Kimberly Chilcote, Manager, Fuel Procurement, AEP Energy Supply, 155 W. Nationwide Blvd., Columbus, Ohio 43215. Complete details about the Requests for Proposals are available at www.aep.com/go/coaloffers or by calling Jim Henry at (614) 583-6974, Kim Chilcote at (614) 583-6301 or Mike Ward (614) 583-7270.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation's largest generators of electricity, owning approximately 26,000 megawatts of generating capacity in the U.S. AEP also supplies 3,200 megawatts of renewable energy to customers. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aep-generation-resources-seeks-bids-for-coal-300448305.html

SOURCE American Electric Power

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BAODING, China, April 28, 2017 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading solar panel manufacturers, known as "Yingli solar," today announced that it has filed with the Securities and Exchange Commission a Form 12b-25 (the "Form 12b-25") to extend by fifteen days the due date for filing its annual report on Form 20-F for the fiscal year ended December 31, 2016 (the "2016 Form 20-F").

The Company is unable to file the 2016 Form 20-F on or before the prescribed due date of May 1, 2017 without unreasonable effort or expense, because the Company needs more time to prepare and review its consolidated financial statements as of and for the year ended December 31, 2016 and notes thereto, especially those related to the Company's liquidity, debt restructuring and alternative financing plans as previously disclosed by the Company in its press release dated April 13, 2017. The Company also needs more time to finalize assessment of its internal control over financial reporting and to finalize related disclosures in the Form 20-F. As disclosed in the Company's press release dated April 13, 2017, there is substantial doubt as to the Company's ability to continue as a going concern and the Company expects to disclose the same in the Form 20-F.

The Company's management expects that the 2016 Form 20-F will be filed on or before May 16, 2017.

About Yingli Green Energy

Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar" or "Yingli", is one of the world's leading solar panel manufacturers. Yingli's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli has more than 20 regional subsidiaries and branch offices and has distributed more than 17 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on FacebookTwitter and Weibo.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For further information, please contact:

Eric Pan
Investor Relations 
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-filed-extension-for-2016-form-20-f-300447947.html

SOURCE Yingli Green Energy Holding Company Limited

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http://www.yinglisolar.com

Top Stories

Grid List

International collaboration enables the sharing of risks, rewards and progress, and the co-ordination of priorities in areas such as technology, policy, regulation and business models. In order to reach the goals set out in this roadmap, smart grids need to be rapidly developed, demonstrated and deployed based on a range of drivers that vary across regions globally. Many countries have made significant efforts to develop smart grids, but the lessons learned are not being shared in a co-ordinated fashion. Major international collaboration is needed to expand RDD&D investment in all areas of smart grids – but especially in standards, policy, regulation and business model development. These efforts will require the strengthening of existing institutions and activities, as well as the creation of new joint initiatives.

The old definition of a microgrid was usually an electricity source, often a combined heat and power natural gas plant or a reciprocating engine generator, that provided fulltime or backup power for an industrial site, military installation, university, or remote location.

Today’s definition is much broader, incorporating cleaner technologies and more diverse customers, establishing microgrids as a key component of tomorrow’s more resilient, efficient and low-emissions electricity system.

Market Research Hub (MRH) has recently announced the inclusion of a new study to its massive archive of research reports, titled as “Global Microgrid as a Service (MaaS) Market Status, Size and Forecast 2012-2022.” This report provides an in-depth evaluation on the market for Microgrid as a Service (MaaS), elaborating on the prime dynamics influencing the development of this market. These dynamics include the major drivers, opportunities, restraints etc. Geographically, the global market is categorized into EU, United States, China, India, Japan and Southeast Asia.

With an extensive forecast period of 2016 to 2021, the analysts have studied major dynamics for the market, which can be helpful for the established players as well as new entrants in this market. In terms of geography, with constant rising industrial sector, countries such as China, India, Japan and South Korea are gaining extensive market share of the MaaS market.

A grid-connected microgrid can be defined as, a set of distributed energy resources and interconnected loads mainly use to supply power to the main grid or utility grid. Microgrids can operate as stand-alone 'islands' and are able to provide reliable electricity even during bad weather. According to the key findings, from several years, the escalating demand for power, along with an increased need for secure, reliable and emission-free power propels the demand for microgrids. Also, it is projected that the microgrids as a service market are recording healthy growth due to various benefits offered by Microgrids, such as highly reliability, economical & effectual energy power, improvement of renewable energy sources and smart grid integration etc.

These microgrids can be divided into Grid type and Service type.

On the basis of grid type, it covers:

Grid Connected
Remote/Islanded

By service type, it includes:

Monitoring & Control Service
Software as a Service (SaaS)
Engineering & Design Service
Operation & Maintenance Service

On the other hand by applications, the report has segmented the market into Military, Industrial, Government & Education, Utility, Residential & Commercial. The Microgrid as a Service Market is having significant growth in many areas where continuous power is must such as industries, Residential & Commercial, hospitals and universities among others.

Advanced Energy Economy (AEE) said last week that global annual revenue from microgrids rose 29 percent between 2015 and last year, according to Microgrid Knowledge. The revenues totaled $6.8 million at the beginning of 2017. The report, which was prepared by Navigant Research, said that the market in the United States has more than doubled since 2011. The sector reached $2.2 billion last year after enjoying a 16 percent compound annual growth rate (CAGR), between 2015 and 2016.

Today, the microgrid technology only produces 0.2 percent of U.S. electricity (about 1.6 GW). That capacity is expected to double in the next three years, however.

Microgrids not only improve reliability and resilience – keeping the lights on during a widespread disaster that affects the main grid -- but also increase efficiency, better manage electricity supply and demand, and help integrate renewables, creating opportunities to reduce greenhouse gas emissions and save energy.
But financial and legal hurdles stand in the way of accelerating their deployment.

Each microgrid’s unique combination of power source, customer, geography, and market can be confusing for investors. Microgrids can run on renewables, natural gas-fueled turbines, or emerging sources such as fuel cells or even small modular nuclear reactors. They can power city facilities, city neighborhoods, or communities in remote areas. As we heard during our research, “If you’ve seen one microgrid, you’ve seen one microgrid.”

The legal framework can be confusing, too. Most states lack even a legal definition of a microgrid, and regulatory and legal challenges can differ between and within states. Issues include microgrid developers’ access to reasonably priced backup power and to wholesale power markets to sell excess electricity or other services. Also, franchise rights granted to utilities may limit microgrid developers’ access to customers.