AEP CEO says company on ‘precipice’ of renewable energy transformation

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):American Electric Power Co. Inc. plans to continue investing in clean energy resources to build on its planned acquisition of wind projects in Oklahoma, despite lingering uncertainty from the coronavirus pandemic and the upcoming U.S. elections.“The way I see it is we are just on the precipice of a massive transformation to renewable resources,” AEP Chairman, President and CEO Nicholas Akins said Oct. 22 on the company’s third-quarter 2020 earnings call. “And AEP, if you look at the runway, it’s pretty substantial.”AEP in July reaffirmed its $2 billion commitment to acquiring the North Central wind projects in Oklahoma, which represent nearly 1,500 MW of capacity, despite Texas regulators’ rejection of the plan.AEP announced in July 2019 plans to acquire three wind projects under development in Oklahoma from Invenergy LLC. The deal involves the acquisition of about 1,485 MW of wind capacity from the planned 999-MW Traverse Wind Farm, the 199-MW Sundance Wind Project and the 287-MW Maverick Wind Project by AEP subsidiaries Public Service Co. of Oklahoma and Southwestern Electric Power Co.In February, AEP management said the company will likely issue equity and could sell assets to fund the North Central Wind projects.[Darren Sweeney]More ($): AEP on ‘precipice’ of green transformation despite pandemic, policy uncertainty AEP CEO says company on ‘precipice’ of renewable energy transformationlast_img read more

Putin raises tax for wealthy Russians ahead of vote on his rule

first_imgTopics : President Vladimir Putin raised income tax for wealthy Russians and offered new state handouts to families with children on Tuesday, days before the country votes on reforms that could keep him in power until 2036.In a televised speech to the nation, Putin, 67, said Russia’s response to the coronavirus crisis had saved tens of thousands of lives and he ordered the extension of several support measures to cushion the economic fallout.Deviating from a flat 13% tax he himself introduced almost two decades ago, Putin said the wealthy would now pay 15% on annual income over 5 million roubles ($72,833) and that the additional cash would go towards helping sick children. The move, to be introduced from January, is likely to play well with voters frustrated by years of falling incomes. Many also dislike the class of wealthy businessmen which sprang up after the collapse of the Soviet Union.Putin’s speech came ahead of a seven-day national vote starting on Thursday in which Russians will approve or reject an array of reforms, including one that could allow Putin to serve two more terms in the Kremlin instead of stepping down in 2024.Putin promised to expand a program to help families with mortgages and to offer a one-off payment next month of 10,000 roubles for each child they have aged up to 16, measures he said would help them weather the fallout from the coronavirus crisis.Russia, which has registered the world’s third largest number of coronavirus cases, has largely ended its lockdown, but the crisis is expected to cause a 6% economic contraction this year.Putin also proposed cutting tax on IT companies’ profit to 3% from 20%. Though short on details, the proposal prompted Russian internet giant Yandex’s shares to rise more than 3%.last_img read more

East Bank trounce West Demerara by 10 wickets … East Coast Demerara also win

first_imgAN UNBROKEN opening stand of 170 by Mavendra Dindyal and Chad Shivitran, engineered East Bank to an easy ten-wicket win over West Demerara in round two of the Demerara Inter-Association Under-15 50-over cricket tournament yesterday at the Everest Cricket Club ground.The pair wiped off the 69-7 made by West Demerara, with 17 overs to spare.Dindyal finished on 78 off 112 balls, with eight fours, while Shivitram scored 68 off 103 balls.Earlier Andre Seepersaud stroked an even half-century for West Demerara. He received support from Vishaul Persaud, who made 33.Extras contributed 61 to the total. Cameron DeFrietas had 3-33, to be the best bowler for East Bank.At the Ogle Community Centre ground, where Georgetown faced East Coast Demerara, the hosts whipped the City team by 99 runs.Batting first, ECD made 171-8, with Edmond Persaud hitting an unbeaten 57. Shoab Shaw made 40.Hemant Dalip (4-30) and Zechariah Mootoo (2-15) were the most successful bowlers for Georgetown.In reply, the City batsmen failed to offer any resistance, and were eventually bowled out for 72 in 27.3 overs.Brandon Jaikarran (11), was the only batsman to reach double figures.Davanad Khemraj (2-10) had the best figures for the winners, while the other bowlers all contributed with a wicket apiece.The final round is set for today.last_img read more

CAF CC: Felix Annan targets Kotoko victory away at Nkana

first_img–By: Nathan Quao/ Asante Kotoko goalkeeper, Felix Annan, has revealed that the team is aiming at getting a victory in Zambia against Nkana in their third Group C match in the CAF Confederation Cup on Sunday, February 24.Kotoko are set to arrive in Zambia on Thursday for the match after going through Ethiopia on transit from Accra.The team, like the other three in the group, is on three points after beating Zesco 2-1 in their second group game and Annan told Kwese Sports in an interview that he would like the winning run to continue for the Porcupine Warriors.“The group is really interesting because the teams are all square on three points because home games have been won while the games away have been lost.One can see that the away games will be the difference and so, for us, we are determined to get a good result in Zambia but our mindset is one that seeks to get the victory there because that will enhance our chances (of making it out of the group)However, if we fail to win, a draw will not be a bad result but we are not going to lose. We want to get something out of the game.”With Zesco hosting Al-Hilal in the next round, a good result for Kotoko will be beneficial to their plans of progressing to the next round of the competition.Kotoko will have to dig deep to find the result they highly desire because Nkana are unbeaten in 57 matches in CAF Interclub competitions spanning 43 years.last_img read more