In The Spotlight
TEL-AVIV, Israel, June 19, 2018 /PRNewswire/ -- Ellomay Capital Ltd. (NYSE American: ELLO) (TASE: ELLO) ("Ellomay" or the "Company"), a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel, today announced that Talasol Solar S.L. ("Talasol"), which the Company indirectly wholly owns and which is promoting the construction of a photovoltaic plant with a peak capacity of 300 MWDC in the municipality of Talaván, Cáceres, Spain (the "Talasol Project"), entered into an engineering, procurement & construction agreement (the "EPC Agreement") with METKA EGN Limited ("METKA EGN"), in connection with the Talasol Project.
METKA EGN is an EPC and O&M contractor for the full range of solar and storage applications, ranging from stand-alone solar parks and storage applications to complex hybrid projects. METKA EGN's project references include more than 950MW of PV projects in Europe, Asia and the Americas.
The EPC Agreement provides a fixed and lump-sum amount of euro 192.5 million for the complete execution and performance of the works defined in the EPC Agreement. The works include the engineering, procurement and construction of the Talasol Project and the ancillary facilities for injecting power into the grid, including a 400 kV step-up substation, the high voltage interconnection line to the point of connection to the grid and performance of two years of O&M services. METKA EGN is expected to complete the works under the EPC Agreement within a period of 16 months.
The EPC Agreement further provides that in the event the Talasol Project does not reach financial closing within 14 months, both parties can terminate the EPC Agreement. The EPC Agreement includes additional standard provisions, including with respect to liquidated damages in connection with delays and performance, performance guarantees, suspension and termination.
Subject to receipt of regulatory approvals and the procurement of project financing by Talasol, it is currently expected that the Talasol Project will become operational during the first half of 2020.
The continued development of the Talasol Project is subject to risks and uncertainties, including with respect to the occurrence of the conditions subsequent set forth in the Talasol share purchase agreement, and other conditions that are not entirely within the control of the Company or Talasol, as they include the issuance of regulatory approvals and the procurement of project financing on terms acceptable to Talasol. The Company and Talasol may, in their sole discretion, decide not to pursue the Talasol Project in the event of changes in the market or other circumstances.
Ran Fridrich, CEO and a Board member of Ellomay commented: "This is a very significant milestone in the advancement of the Talasol project, which is expected to be one of the largest photovoltaic projects in Europe and one of the first projects to work on grid parity, that is, without subsidies. We strongly believe in the success of this project, due to, among other reasons, its location, the expected features of the Spanish solar electricity market, the relatively high radiation in the Iberian Peninsula and the relatively convenient financing cost."
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol "ELLO". Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe and Israel.
To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy and Spain, including:
- Approximately 22.6MW of photovoltaic power plants in Italy, approximately 7.9MW of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MW in Israel;
- 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel's largest private power plants with production capacity of approximately 850 MW, representing about 6%-8% of Israel's total current electricity consumption;
- 75% of Chashgal Elyon Ltd., Agira Sheuva Electra, L.P. and Ellomay Pumped Storage (2014) Ltd., all of which are involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
- 51% of Groen Gas Goor B.V. and of Groen Gas Oude-Tonge B.V., project companies operating or developing anaerobic digestion plants with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands and 475 Nm3/h, in Oude Tonge, the Netherlands, respectively.
Ellomay Capital is controlled by Mr. Shlomo Nehama, Mr. Hemi Raphael and Mr. Ran Fridrich. Mr. Nehama is one of Israel's prominent businessmen and the former Chairman of Israel's leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both have vast experience in financial and industrial businesses. These controlling shareholders, along with Ellomay's dedicated professional management, accumulated extensive experience in recognizing suitable business opportunities worldwide. Ellomay believes the expertise of Ellomay's controlling shareholders and management enables the Company to access the capital markets, as well as assemble global institutional investors and other potential partners. As a result, we believe Ellomay is capable of considering significant and complex transactions, beyond its immediate financial resources.
For more information about Ellomay, visit http://www.ellomay.com.
About MYTILINEOS Holdings S.A.
MYTILINEOS is a leading Greek industrial company active in Metallurgy, Power & Gas and EPC & Infrastructure Projects. Established in Greece in 1990, the Company is listed on the Athens Exchange, has a consolidated turnover in excess of €1.5 billion and employs directly or indirectly more than 2,900 people in Greece and abroad.
For more information about MYTILINEOS, visit www.mytilineos.gr
About METKA EGN
METKA EGN is a joint venture between MYTILINEOS Holdings S.A. and the EGNATIA Group, focused on development and construction of utility scale projects for the global solar power and energy storage markets. The company serves major international clients primarily in the markets of Europe, Middle East, Central Asia and the Americas.
For more information about METKA EGN, visit: www.metka-egn.com.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in this press release regarding the Company's plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company's forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company's forward-looking statements, including the availability of financing for the Talasol Project on terms acceptable to the Company, if any. These and other risks and uncertainties associated with the Company's business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Tel: +972 (3) 797-1111
View original content:http://www.prnewswire.com/news-releases/ellomay-capital-ltd-announces-execution-of-epc-agreement-in-connection-with-talasol-project-300668250.html
SOURCE Ellomay Capital Ltd
HOUSTON--(BUSINESS WIRE)--National Oilwell Varco, Inc. (NYSE: NOV) today announced the commercial launch of GoConnect™ condition monitoring services for intervention and stimulation equipment, which provides real-time process monitoring, predictive analytics, and condition-based maintenance capabilities for NOV’s pressure pumping, coiled tubing, nitrogen, and wireline equipment. The GoConnect system uses machine learning to provide data-driven insights into the condition, health, and performance of customers’ equipment and operations. The GoConnect system’s capabilities allow customers to reduce downtime-related costs, enhance equipment performance, and improve operational efficiencies of completion services.
“Condition monitoring and predictive analytics are changing the way we support, maintain, and design our equipment, allowing us to deliver better uptime and performance for our customers,” said Clay Williams, Chairman, President, and CEO. “Given that completions represents over two-thirds of the cost of a horizontal well in North America, expanding NOV’s condition monitoring offerings to support intervention and stimulation equipment operations was the next logical area to apply our industry-leading digital technologies and services. We believe GoConnect will help customers improve asset performance, utilization, and reliability while reducing costs.”
Asset Link, the first commercial product of a multi-tier GoConnect service offering, enables real-time data monitoring and tracking, and is now available to customers after extensive field trials. The second tier of service, Asset Insight, which supports root cause analysis of component failures through advanced diagnostics tools and improves asset management with real-time alerts and customizable reports, will be available by the third quarter of this year. Asset Optimization, the third tier of service, which incorporates proprietary algorithms developed by NOV’s technical equipment experts and data scientists to predict and prevent maintenance issues, will be available by the end of the year.
NOV’s GoConnect system for intervention and stimulation equipment is powered by NOV’s Max™ platform, which also powers NOV’s successful RigSentry™ condition monitoring system for drilling equipment. By unifying the company’s digital solutions, products, and services through the Max platform, NOV will be able to more effectively help the industry reduce costs while improving the performance and reliability of critical equipment.
National Oilwell Varco, Inc (NYSE: NOV) is a leading provider of technology, equipment, and services to the global oil and gas industry. NOV has been pioneering innovations that improve the cost-effectiveness, efficiency, safety, and environmental impact of oil and gas operations since 1862. The depth and breadth of NOV’s offerings support customers’ full-field, drilling, completion, and production needs. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
OXFORD, England & CHARLOTTE, N.C.--(BUSINESS WIRE)--ZapGo Ltd has been selected to contribute its unique Carbon-Ion™ technology to a consortium led by Williams Advanced Engineering to develop next-generation battery systems for electric vehicles. The project is part of the UK Government’s Faraday Battery Challenge, a £246 million commitment to battery development for the electric vehicle market.
Williams Advanced Engineering is the technology and engineering services business of the Williams Group, which also includes Williams Martini Racing, one of the most successful teams in Formula 1 history and sole battery supplier to all Formula E racing cars. The consortium seeks to deliver faster-charging, higher-power, higher-energy batteries that improve upon today’s technology. ZapGo will contribute its expertise and Carbon-Ion technology, which has the ability to deliver fast-charging, long-lasting, safe and recyclable cells. The other members of the consortium are Imperial College London and automotive software specialists PowerOasis and Codeplay.
Stephen Voller, CEO and founder of ZapGo, said, “It’s an important validation of our technology to be invited to work with the Williams team. We want to demonstrate the viability of a hybrid battery management system that goes beyond what’s currently available to EV manufacturers. The time is right to demonstrate that our Carbon-Ion technology can deliver safe, fast charging.”
About ZapGo Ltd
ZapGo Ltd is a technology company based at the Harwell Research Campus, Oxford with a US office in Charlotte, NC. Combining novel nano-carbon materials with proprietary electrolytes they produce an ultra-fast, safe, recyclable charging power module that charges in less than five minutes. For more information, please visit www.zapgo.com.
About Williams Advanced Engineering
Williams Advanced Engineering (WAE) is part of the Williams Group, combining cutting edge technology and the industry’s best engineers with precision and speed to market derived from four decades of success in the ultra-competitive environment of Formula 1. WAE provides world class technical innovation, engineering, testing, manufacturing and operational consultancy services to the automotive, motorsport, aerospace, defense, health and energy sectors. WAE helps meet the performance and sustainability challenges of the 21st century with its expertise in aerodynamics and thermodynamics, electrification, advanced lightweight materials and vehicle integration. WAE was honored with the Queen’s Award for Enterprise in Innovation 2018.
PORTLAND, Ore.--(BUSINESS WIRE)--Mayor Ted Wheeler joined officials from the Portland Bureau of Transportation and representatives from Intel (NASDAQ: INTC), AT&T (NYSE: T), Current by GE (NYSE: GE) and Portland General Electric (NYSE: POR) today to celebrate the Traffic Sensor Safety Project, the first major milestone for Smart City PDX, the City of Portland’s effort to use data and technology to improve people’s lives.
Rather than starting with a technology and looking for reasons to use it, Smart City PDX is structured to first identify inequities and disparities in the city and then strategically apply data and technology to address those challenges.
On June 20, 2018, Portland City Council will vote on the Smart City PDX Priorities Framework, a structured process for evaluating new technologies, uses of information, and related partnerships to ensure they provide tangible benefits to the people of Portland. As the first project under the Smart City PDX banner, the Traffic Safety Sensor Project helped to inform the development of the Priorities Framework.
For the Traffic Sensor Safety Project, the City is installing 200 Current by GE CityIQ™ sensors, powered by Intel® IoT technology, on SE Division, 122nd and SE Hawthorne, three of Portland’s deadliest streets. The sensors will provide around-the-clock counts of vehicles and pedestrians as well as information about vehicle speeds. With this new data, city traffic engineers can improve street safety design and support Portland’s Vision Zero goal of making the streets safe for all users.
“Portland is leading the country in this important data effort,” said Mayor Ted Wheeler. “We are at the forefront of using advanced technology to make our cities safer for pedestrians, cyclists and drivers, helping people more easily get around, save time and reduce the possibility of crashes. This pilot is a significant step in acquiring and utilizing data to make critical decisions.”
“Designing safe streets starts with good data,” said PBOT Director Leah Treat. “Until now, collecting this data was time and volunteer intensive. Now with these smart sensors, we can get real-time data about how Portlanders are using our streets. As a result, our traffic engineers will be smarter and Portlanders will be safer.”
In addition to improved data insights, the CityIQ open platform is designed to handle future growth using the exact same street lighting infrastructure, so Portland can continue adapting and developing new applications that meet the specific needs of the city and its residents.
“Portland is a great example of how every city is able to tailor their solution to meet specific challenges and opportunities,” said Austin Ashe, Smart Cities General Manager for Current by GE. “For example, we will be working with Portland to extract bicycle data to better understand the bicycle traffic volume and cyclists’ interactions with vehicle and pedestrian traffic to improve safety for all.”
“As a leader in IoT and Smart Cities, we know the transformational benefit that technology can have on cities,” said Michael Zeto, VP of AT&T IoT and General Manager of Smart Cities. “Portland is at the forefront of unlocking these possibilities and we expect our AT&T Digital Infrastructure to have a strong impact on improving safety and efficiency in the community.”
The safety project is part of Smart City PDX, the City of Portland’s urban data and technology strategy. A finalist in the 2016 Smart City Challenge sponsored by the United States Department of Transportation, Portland has continued to expand its overall effort to use data and technology to increase safety, reduce inequities and improve the quality of life for Portlanders.
“Smart collaborations between city officials, corporations and software developers are creating infrastructures that empower citizens while making our cities more resilient and responsive. The City of Portland deployment of smart traffic sensors is a great example of this and will improve the safety and quality of life for its citizens,” said Jonathan Ballon, vice president, Internet of Things Group at Intel. “Together, Intel, Current by GE, Portland General Electric (PGE) and AT&T provide an innovative smart lighting solution to enhance Portland’s downtown infrastructure, optimize traffic patterns, and increase safety.”
The sensor project, which installed new mast arms and the sensors on street light poles on the three corridors, costs $1,012,000. It was funded with general transportation revenue, system development charges and contributions by the project’s private sector collaborators.
“PGE is thrilled to be working with the city on a number of smart city initiatives,” said Larry Bekkedahl, vice president of transmission and distribution, PGE. “By partnering and innovating together, we can create a more purposeful, informed, and sustainable way of living.”
The data gathered from the sensors will be collected in the Portland Urban Data Lake (PUDL). Part of the overall Smart City PDX initiative, PUDL will collect, store, combine, and analyze data from a variety of sources including the Traffic Safety Sensor Pilot. The goal of PUDL is to provide a foundation for data-driven decision making, helping the City of Portland to harness the power of data to improve City services.
About PBOT: The Portland Bureau of Transportation (PBOT) is the steward of the City’s transportation system, and a community partner in shaping a livable city. We plan, build, manage and maintain an effective and safe transportation system that provides access and mobility. Learn more at www.portlandoregon.gov/transportation
About Current, powered by GE
Current is the digital engine for intelligent environments. A first-of-its-kind startup within the walls of GE (NYSE: GE), Current blends advanced LED technology with networked sensors and software to make commercial buildings, retail stores and industrial facilities more energy efficient & digitally productive. Backed by the power of Predix*, GE’s platform for the Industrial Internet, and a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments. www.currentbyge.com
AT&T Inc. (NYSE:T) helps millions around the globe connect with leading entertainment, business, mobile and high speed internet services. We have the nation’s largest and most reliable network** and the best global coverage of any U.S. wireless provider. We’re one of the world’s largest providers of pay TV. We have TV customers in the U.S. and 11 Latin American countries. More than 3 million companies, from small to large businesses around the globe, turn to AT&T for our highly secure smart solutions.
AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T products and services is available at about.att.com. Follow our news on Twitter at @ATT, on Facebook at facebook.com/att and on YouTube at youtube.com/att.
© 2018 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
**Coverage not avail. everywhere. Based on overall coverage in U.S. licensed/roaming areas. Reliability based on voice and data performance from independent 3rd party data.
About Portland General Electric Company: Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Ore., serving 877,000 customers in 51 cities. For more than 125 years, PGE has been delivering safe, reliable energy to Oregonians. With 2,900 employees across the state, PGE is committed to building a cleaner, more efficient energy future. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. For more information, visit PortlandGeneral.com.
AUSTIN, Texas & FORT WORTH, Texas & SAN FRANCISCO--(BUSINESS WIRE)--TPG Growth and The Rise Fund today announced that they have signed an agreement to acquire CLEAResult, the country’s leading provider of energy efficiency solutions for utility companies. TPG Growth, the middle-market and growth equity platform within TPG, and The Rise Fund, a global impact investing fund managed by TPG, will be co-investors in acquiring the company from General Atlantic, a leading global growth equity firm. Financial terms of the transaction were not disclosed. The transaction, which is expected to close later in 2018, is subject to customary closing conditions, including regulatory approval.
“CLEAResult has experienced tremendous growth over the past few years, positioning us as the leading provider of energy efficiency services and allowing us to deliver over 4,500 GWh and 54 million therms of energy savings in 2017. With TPG as our partner, we look forward to continued growth in our energy management offerings and further innovation in our technology platforms to deliver exceptional value to our clients,” said CLEAResult CEO Aziz Virani.
Headquartered in Austin, Texas and serving hundreds of utility customers across the country, CLEAResult partners with utilities and local governments to design, implement and maintain services and programs that provide energy optimization and efficiency to residential, institutional, commercial and industrial organizations. Through these programs, CLEAResult helps lower energy and grid load requirements, reduces energy bills for consumers and cuts carbon emissions through reduced heating and electricity usage.
“CLEAResult has a strong position in the utility demand-side management market and is committed to investment in innovation and technology development to enhance its offerings,” said Christopher Yip, Principal at TPG. “We look forward to supporting management to further build the platform and benefit all stakeholders.”
“Energy efficiency is one of the least expensive ways to meet energy demand, and CLEAResult enables this every day for residential and commercial customers by working in collaboration with utilities across North America. Not only do these programs help families and businesses to save money, but they result in significant reductions in carbon emissions - a key focus area for The Rise Fund,” said Rick Needham, Energy Sector Lead for The Rise Fund. “We are very excited to help CLEAResult grow their business and in the process further reduce emissions.”
“Over the past five years CLEAResult has meaningfully expanded their leadership position in the energy efficiency and demand-side management space,” said Peter Munzig, Principal at General Atlantic. “It has been an honor to work with Aziz Virani, Terry Moore, Jonathan Seltzer, and the entire team at CLEAResult and we look forward to the company’s next phase of growth with TPG.”
Financing for the transaction is being provided by Goldman Sachs & Co. LLC, UBS Investment Bank, Credit Suisse and KeyBanc Capital Markets.
KeyBanc Capital Markets Inc. and Robert W. Baird & Co. served as financial advisors to TPG, and Vinson & Elkins served as legal advisor to TPG and The Rise Fund.
J.P. Morgan and Piper Jaffray served as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to General Atlantic.
CLEAResult is the largest provider of energy efficiency programs and services in North America. Through proven strategies tailored to clients’ unique needs and market dynamics, the combined strength of experienced energy experts and technology-enabled service offerings help CLEAResult change the way people use energy for hundreds of utility and business partners. Founded in 2003, CLEAResult is headquartered in Austin, Texas, and has more than 2,500 employees in more than 70 cities across the U.S. and Canada. For more information, visit clearesult.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $13.5 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $82 billion of assets under management. For more information, visit www.tpg.com.
About The Rise Fund
The Rise Fund is the world’s largest global fund committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns —what we call “complete returns.” The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. The Rise Fund is led by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress. The board includes: Bill McGlashan, TPG Growth Founder and Managing partner; Bono, Jeff Skoll, Mo Ibrahim, Laurene Powell Jobs, Anand Mahindra and Pierre Omidyar. The Rise Fund’s objectives align with the U.N.’s Sustainable Development Goals. The Rise Fund invests in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media, and telecommunications companies that deliver complete returns. For more information, visit therisefund.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. www.generalatlantic.com.
DUBLIN--(BUSINESS WIRE)--The "Global Industrial Turbines Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The global industrial turbines market to grow at a CAGR of 4.51% during the period 2018-2022.
Global Industrial Turbines Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is growth in the natural gas pipeline networks. There is a global increase in natural gas production and consumption. With the emergence of cross-country and multi-country pipelines, the demand is expected to further increase in the forecast period.
According to the report, one driver in the market is growth in the electric power consumption and production. There is a global rise in the electric power consumption in the last few years owing to the increase in population, urbanization, industrialization, and rural electrification projects.
Further, the report states that one challenge in the market is growth in the renewable energy sector. The growth in the renewable energy sector, especially solar and wind energy is a major challenge for the global industrial turbines market. There has been a rise in the demand for electricity generation over the last few years due to growth in population, urbanization, and industrialization.
Key Market Trends
- Growth in the natural gas pipeline networks
- Technological innovations in gas turbines
- Growth of waste to energy plants
- Ansaldo Energia
- General Electric
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Market Sizing
Part 06: Five Forces Analysis
Part 07: Market Segmentation By Product
Part 08: Customer Landscape
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Vendor Analysis
Part 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/pfq33c/global_industrial?w=4