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Sunnova CEO John Berger said the $300 million is in committed debt and equity funding from Credit Suisse and a group of equity investors led by Triangle Peak Partners, which is based in Houston and California. Other new business development partners include Philadelphia-based Franklin Square Capital Partners and GSO Capital Partners, which is the credit investment arm of the Blackstone Group private equity firm.
The Obama administration has telegraphed its plans to “reduce wasteful venting, flaring and leaks of natural gas from onshore wells” on federal and Indian leases nationwide.
Texas moved up eight spots to rank 26th nationally after the state became more aggressive in policing proper energy code compliance for buildings as part of a partnership with the U.S. Department of Energy, according to the report by the American Council for an Energy-Efficient Economy.
American’s views on climate change and other hot-button energy and environment topics are still closely tied to their political affiliation, with 90 percent of Democrats saying climate change is occurring compared to just 59 percent of Republicans in a new UT Energy Poll.
California is shutting down another 33 oilfield wells that state officials improperly permitted to inject into federally protected water supplies.
Despite the concerns, the estimated retirement of at least 4,000 megawatts of coal-fired generation capacity in the ERCOT region is much less than the previous projection of 8,700 megawatts given last year before the Clean Power Plan rule was finalized and the timelines were eased, said ERCOT, which manages about 85 percent of Texas’ electricity load.
Their declaration follows a joint letter that was sent to the top UN official in charge of climate talks earlier this year, in which six European oil companies split from their U.S. peers and banded together to call for governments to agree to carbon pricing.
The Clean Power Plan, the final version of which was proposed in August, is intended to reduce carbon pollution from existing power by 32 percent from their 2005 levels by 2030.
The sticking point is that under the Texas electric deregulation law, transmission and distribution utilities cannot own generation assets.
Citigroup said its credit exposure to coal mining had “declined materially” since 2011 and that the trend would continue into the future.