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PARIS--(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today reported results for the second quarter of 2018.

(Stated in millions, except per share amounts)
Three Months Ended           Change
Jun. 30, 2018     Mar. 31, 2018   Jun. 30, 2017 Sequential     Year-on-year
Revenue $8,303 $7,829 $7,462 6% 11%
Pretax operating income $1,094 $974 $950 12% 15%
Pretax operating margin 13.2% 12.4% 12.7% 75 bps 45 bps
Net income - GAAP basis $430 $525 $(74) -18% n/m
Net income, excluding charges & credits* $594 $525 $488 13% 22%
Diluted EPS - GAAP basis $0.31 $0.38 $(0.05) -18% n/m
Diluted EPS, excluding charges & credits* $0.43 $0.38 $0.35 13% 23%
*These are non-GAAP financial measures. See section below entitled "Charges & Credits" for details.
n/m = not meaningful

Schlumberger Chairman and CEO Paal Kibsgaard commented, “The second quarter was both busy and exciting for Schlumberger as we completed a number of major milestones in preparation for the broad-based global activity upturn that is now emerging. We delivered solid top-line growth both in North America and the international markets, building on our strong contract portfolios and our recent tender wins. We mobilized an unprecedented 29 new rigs for our international integrated drilling business, including our first commercial Land Rig of the Future deployment in Saudi Arabia. We successfully rolled out our new, streamlined operations support organization, building on five years of methodical investment to further professionalize all aspects of our work, which will set new standards for internal efficiency, quality, teamwork, and collaboration. As part of this, we made the last adjustment to our organizational setup in the second quarter to conclude the removal of one complete layer of our management and support structure. This will further reduce our cost base, and improve our agility and competitiveness going forward.

“Given the considerable number of new projects we are starting up throughout our international operations, our organization has responded well to both mobilization and project startup challenges. However, the associated costs together with some operational delays impacted our second-quarter pretax operating margins. This resulted in our sequential margin expansion being below our expectations.

“In North America, excluding Cameron, second-quarter revenue of $2.5 billion increased 12% sequentially as we continued our deployment of additional hydraulic fracturing and directional drilling capacity. Despite the impact of the spring breakup in Canada, North America Land revenue grew 9%, driven by market share gains and operational efficiency improvements while pricing remained flat. In the hydraulic fracturing market, we are seeing an accelerating customer trend of separating the procurement of pumping services and sand supply. As our multiyear vertical integration investment program approaches completion, it enables us to bid competitively on integrated or stand-alone sand contracts. North America Offshore activity began to recover during the second quarter with new drilling projects starting up in Eastern Canada, the US Gulf of Mexico, and the Caribbean, resulting in sequential offshore revenue growth of 22%.

“Excluding Cameron, second-quarter revenue in the international markets of $4.4 billion grew 6% sequentially despite flat revenue in Russia, and only nominal growth in the Middle East, where startup and project delays affected our results. Sequential growth was driven by an 18% improvement in Asia and Australia, 9% in Europe and Africa, and 3% in Latin America. These figures confirm that a much broader-based international recovery is now emerging. Pricing improved in the international markets during the second quarter, and while the numbers are not yet material, a trend has been established and customer pricing discussions are continuing both for new and existing contracts. With a number of large-scale project awards absorbing our remaining spare capacity in both drilling and production services, our equipment will be fully deployed during the fourth quarter, after which we expect a further strengthening of the international pricing recovery.

“Growth in the second quarter was led by Production where revenue increased sequentially by 10%, driven by OneStimSM in North America. Revenue from both Reservoir Characterization and Drilling increased 5% sequentially due to higher international activity beyond the seasonal rebounds in the Northern Hemisphere. The increase in revenue was driven by higher OneSurfaceSM activity, additional Software Integrated Solutions (SIS) sales, and the start of integrated drilling projects in the Middle East, India, Mexico, and offshore North America. Cameron revenue decreased 1% sequentially on lower OneSubseaTM project volume, although this was partially offset by higher service activity in North America for Surface Systems and higher product sales for Valves & Measurement.

“The market fundamentals continue to evolve favorably for our international business as the global balance of crude oil supply and demand tightens further. Global GDP growth remains strong, with any impact of headwinds from the US-China trade dispute likely to become clearer in the next few quarters. Despite OPEC’s recent decision to increase production, the global supply base continues to weaken from geopolitical pressure to remove Iranian production from the market, no apparent resolution to falling production in Venezuela, and Libyan exports continuing to be volatile. In North America, lack of additional pipeline capacity in the Permian Basin is becoming an increasing constraint to production growth. At the same time, spare production capacity, which is essentially limited to only a few OPEC countries, is now nearing its lowest level for more than a decade while decline in the world’s mature production base continues to accelerate. These developments underline the growing need for E&P spending to increase significantly, particularly in the international markets, as it is becoming more and more apparent that the new projects expected to come online during the next few years will not be sufficient to meet the increasing demand.

“These views underpin the strong confidence we have in our business outlook. Although the last four years have been marked by the deepest downturn in generations, we have capitalized on a number of market opportunities while simultaneously transforming our company to be even more competitive in the broad-based recovery that is now emerging. The expansion of our portfolio has significantly increased our total addressable market by 50% and we have reached new levels of efficiency in all our activities. We are primed and ready to capture the growth opportunities coming from the positive market fundamentals, and we are excited by the activity and pricing opportunities that the new industry landscape presents.”

Other Events

During the quarter, Schlumberger repurchased 1.5 million shares of its common stock at an average price of $68.45 per share, for a total purchase price of $103 million.

On July 18, 2018, the Company’s Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on October 12, 2018 to stockholders of record on September 5, 2018.

Consolidated Revenue by Area

        (Stated in millions)
Three Months Ended     Change
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017 Sequential     Year-on-year
North America $3,139 $2,835 $2,202 11% 43%
Latin America 919 870 1,039 6% -12%
Europe/CIS/Africa 1,778 1,704 1,750 4% 2%
Middle East & Asia 2,367 2,309 2,347 3% 1%
Other 99 111 124 n/m n/m
$8,303 $7,829 $7,462 6% 11%
North America revenue $3,139 $2,835 $2,202 11% 43%
International revenue $5,065 $4,883 $5,136 4% -1%
North America revenue, excluding Cameron $2,528 $2,265 $1,728 12% 46%
International revenue, excluding Cameron $4,358 $4,129 $4,348 6% -
n/m = not meaningful

Second-quarter consolidated revenue of $8.3 billion increased 6% sequentially, with North America revenue of $3.1 billion growing 11% and international revenue of $5.1 billion increasing 4%.

North America

North America Area consolidated revenue increased 11% sequentially following the continued deployment of additional hydraulic fracturing and directional drilling capacity. Despite the impact of the spring breakup in Canada, North America Land revenue grew 9% sequentially, outperforming both the 7% increase in US land rig count and the 8% growth in US land market stage count. This performance was driven by market share gains and operational efficiency improvements as pricing remained flat. Activity in the US land market continued to be strong as customers developed more effective well designs, balancing lateral length and completion volumes to maximize productivity while managing overall cost. The customer trend of separating the procurement of pumping services and sand supply accelerated during the quarter. However, the vertical integration of the Schlumberger offering provides maximum potential for revenue from both integrated pumping services and sand supply contracts. As a result, OneStim revenue grew 17% sequentially. North America Offshore activity began to recover, with new drilling projects starting up in Eastern Canada, the US Gulf of Mexico, and the Caribbean, resulting in sequential revenue growth of 22% boosted by market share gains and multiclient sales. Higher service revenue and product sales in Valves & Measurement, together with increased activity for Surface Systems, also contributed to the Area’s strong financial performance.


Consolidated revenue in the Latin America Area increased 6% sequentially due to strong performance in the Latin America South GeoMarket as a result of higher Cameron activity and increased hydraulic fracturing stage count, as well as increased coiled tubing activity on unconventional land operations in Argentina. Revenue in the Mexico & Central America GeoMarket also increased following the start up of Integrated Drilling Services (IDS) activity, while revenue in the Latin America North GeoMarket was essentially flat sequentially.

Europe/CIS/Africa Area consolidated revenue increased 4% as drilling activity recovered from the winter slowdowns in the North Sea and Europe. Revenue in Sub-Sahara Africa increased from the start of new projects in Angola, Nigeria, Ghana, Ivory Coast, and Cameroon; North Africa increased from higher activity and product sales in Algeria, Libya, and Chad; and Russia was essentially flat sequentially due to delays in the startup of the summer offshore campaigns. Revenue growth in the North Sea resulted from higher UK and Norway drilling activity as the rig count increased, while in Continental Europe revenue increased mainly from higher drilling activity in Romania.

Consolidated revenue in the Middle East & Asia Area increased 3% sequentially, led by stronger activity in the Far East Asia & Australia GeoMarket, mainly in Indonesia, offshore Australia, and from a seasonal recovery in China. In the Northern Middle East GeoMarket, progress was strong on OneSurface integrated production system projects in Kuwait and Egypt, while the Eastern Middle East GeoMarket benefited from the start up of IDS projects in Iraq. In the South & East Asia GeoMarket, operations began on drilling projects in Myanmar, Vietnam, and India. In Saudi Arabia, sequential revenue growth was limited by delays and logistical challenges in the startup phases of some lump-sum turnkey (LSTK) projects. Cameron revenue was sequentially lower in the Far East Asia & Australia and Northern Middle East GeoMarkets, partially offsetting the effects of the strengthening activity across the Area.

Reservoir Characterization

        (Stated in millions)
Three Months Ended     Change
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017 Sequential     Year-on-year
Revenue $1,636 $1,556 $1,759 5% -7%
Pretax operating income $350 $307 $299 14% 17%
Pretax operating margin 21.4% 19.7% 17.0% 166 bps 439 bps

Reservoir Characterization revenue of $1.6 billion, of which 75% came from the international markets, increased 5% sequentially due to higher activity beyond the seasonal rebounds in the Northern Hemisphere. Growth was mainly due to higher Wireline activity from new projects offshore North America and new contracts in the Far East Asia & Australia GeoMarket; further progress on OneSurface integrated production system projects in Kuwait and Egypt; and increased SIS software maintenance and license sales in Mexico, Brazil, Russia, and Kuwait. The increase in Reservoir Characterization revenue was partially offset by reduced WesternGeco activity as marine seismic acquisition contracts continued to wind down.

Reservoir Characterization pretax operating margin of 21% was 166 basis points (bps) higher sequentially due to the recovery in higher-margin Wireline activity and stronger sales of SIS software licenses.

Reservoir Characterization benefited from Integrated Services Management (ISM), SIS, and WesternGeco contract awards as well as the application of technology and domain knowledge to strengthen operational performance.

In Alaska, ISM helped a major independent E&P company complete a six-well exploration campaign within the originally approved five-well budget. The ISM team optimized the delivery of technologies and services from multiple product lines, which confirmed the presence of oil and verified the potential of the play. The technologies included Microscope HD* resistivity- and high-definition imaging-while-drilling service, proVISION* nuclear magnetic resonance service, SonicScope* multipole sonic-while-drilling service, and Saturn* 3D radial probe.

International Frontier Resources Corporation awarded SIS a software as a service contract (SaaS) for the DELFI* cognitive E&P environment for the characterization of reservoirs with complex structural and stratigraphic challenges in its operations in the Tecolutla Project.

In Indonesia, Pertamina Hulu Mahakam awarded Schlumberger a three-year contract for the provision of E&P software. The software includes OLGA* dynamic multiphase flow, PIPESIM* steady-state multiphase flow, and ECLIPSE* industry-reference reservoir simulators; ProSource* E&P data management and delivery system; and Petrel* E&P software and Avocet* production operations software platforms.

In Thailand, Wireline deployed a combination of advanced reservoir sampling technologies in the Wassana Field for KrisEnergy Thailand to reduce rig time by more than three days compared with conventional sampling methods. These had resulted in contaminated samples and a clogged pump due to the reservoir’s heavy oil and unconsolidated sands. The combination of Saturn 3D radial probe, InSitu Fluid Analyzer* real-time downhole fluid analysis system, and MDT* modular formation dynamics tester technologies enabled the customer to certify the reservoir’s reserves and optimize future development plans.

Egyptian General Petroleum Corporation (EGPC) and Schlumberger have signed a minimum 15-year agreement that gives WesternGeco permission to commercialize multiclient projects throughout the entire Gulf of Suez, an area of approximately 12,500 km2. The agreement, which is the second of its type, includes 2D and 3D geophysical acquisition, processing, reprocessing, and interpretation services.

Lundin awarded WesternGeco the data processing and imaging of a 70-km2 ocean-bottom seismic (OBS) 4D reservoir monitoring survey over the Edvard Grieg Field in the Norwegian sector of the North Sea. Work will be performed by the OBS processing teams in the WesternGeco Geosolutions Center using a bespoke time-lapse workflow to increase reservoir understanding and help direct field development decisions.

WesternGeco received a direct award from Sound Energy for a 2,700-km 2D survey using UniQ* land seismic acquisition platform technology over the Meridja and Tendrara Fields in Morocco. The project includes electromagnetics, magnetotellurics, surface wave joint inversion, and data processing methods—all conducted in the Schlumberger Integrated EM Center of Excellence.


        (Stated in millions)
Three Months Ended     Change
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017 Sequential     Year-on-year
Revenue $2,234 $2,126 $2,107 5% 6%
Pretax operating income $289 $293 $302 -1% -4%
Pretax operating margin 12.9% 13.8% 14.3% -83 bps -139 bps

Drilling revenue of $2.2 billion, of which 72% came from the international markets, increased 5% sequentially due to higher activity offshore North America and stronger international activity beyond the seasonal rebounds in the Northern Hemisphere. The start of IDS projects in the Middle East, India, and Mexico favorably impacted M-I SWACO, Drilling & Measurements, and Bits & Drilling Tools. New projects in the North America Offshore GeoMarket and new contracts in the Far East Asia & Australia GeoMarket, the Middle East, and the Mexico & Central America GeoMarket drove the growth in M-I SWACO. Drilling & Measurements revenue increased from new drilling campaigns in Australia, China, Romania, and the North Sea. Stronger Bits & Drilling Tools revenue was due to higher product sales in Algeria and Italy.

Drilling pretax operating margin of 13% declined 83 bps sequentially as the mobilization of resources for new projects across our international operations resulted in additional costs.

Drilling performance in the second quarter was underpinned by IDS contract awards and project mobilizations that deployed drilling technologies to help lower the cost per barrel.

Equinor awarded Schlumberger new integrated services and well services contracts for Equinor-operated fields on the Norwegian Continental Shelf. Initially awarded for four years, the contracts include options for five two-year extensions. The contract scope includes integrated drilling services, cementing and pumping, drilling and completions fluids, electrical logging, and completions. The integrated delivery model will strengthen the interaction between the service supplier, rig supplier, and operator. In addition, a letter of intent has been signed with Schlumberger for a future exploration rig not yet chartered by Equinor.

Equinor also awarded Schlumberger the following new contracts for its international operations.

  • In the UK, a letter of intent was issued for integrated drilling and well services in the Mariner Field in the UK sector of the North Sea.
  • In Brazil, a contract was awarded for integrated drilling services for Phase I and Phase II development of the Peregrino Field located in the Campos Basin.
  • In Tanzania, a contract was awarded for an offshore exploration well. The integrated services contract includes the provision of multiple product lines as well as project management services.

In Wyoming, Schlumberger used a combination of technologies in an integrated drilling services project for Wold Energy Partners to reduce drilling time in four wells in the Powder River Basin by a total of more than 16 days compared with AFE. Technologies included ONYX 360* rolling PDC cutter, PowerDrive vorteX* powered rotary steerable system, and LiteCRETE* lightweight cement slurry.

In Iraq, ENI Iraq BV awarded Schlumberger an IDS contract, starting in 2018, for the construction of 11 wells targeting the Mishrif Formation in the Zubair Field. The contract includes technologies from Schlumberger Land Rigs, Drilling & Measurements, Bits & Drilling Tools, M-I SWACO, Completions, Wireline, and Well Services.

In Norway, Point Resources AS awarded Schlumberger a four-year IDS contract with an option for extension. The contract provides services in production and exploration wells on the Norwegian Continental Shelf and includes the majority of drilling and completions services.

In Bangladesh, SOCAR AQS International DMCC awarded Schlumberger a 12-month IDS contract to drill wells in three different fields—Semutang, Begumganj, and Madarganj.

In Oman, IDS enabled HydroCarbon Finder E&P to reduce drilling time in a well by 14 days compared with the AFE plan. The technologies deployed included the EcoScope* multifunction logging-while-drilling service, PowerDrive Archer* high build rate rotary steerable system, PeriScope* bed boundary mapping service, and MicroScope* resistivity- and imaging-while-drilling service. This well is the customer’s first discovery in Block-15 in the Natih-C Formation.

In Alaska, Drilling & Measurements used a combination of technologies to help a North Slope operator to drill the longest horizontal lateral in North America of 21,748 ft. The technologies used in this dual-lateral well included the PowerDrive Orbit* rotary steerable system, PeriScope HD* multilayer bed boundary detection service, and SonicScope multipole sonic-while-drilling service.


        (Stated in millions)
Three Months Ended     Change
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017 Sequential     Year-on-year
Revenue $3,257 $2,959 $2,496 10% 30%
Pretax operating income $316 $216 $221 46% 43%
Pretax operating margin 9.7% 7.3% 8.9% 239 bps 84 bps

Production revenue of $3.3 billion, of which 48% came from the international markets, increased 10% sequentially. Despite the impact of the spring breakup in Canada, OneStim revenue in North America land grew 17% sequentially, outperforming both the 7% increase in US land rig count and the 8% growth in US land market stage count. This performance was driven by market share gains from deployment of additional capacity and operational efficiency improvements as pricing remained flat. The customer trend of separating the procurement of pumping services and sand supply accelerated during the quarter. However, the vertical integration of the Schlumberger offering enabled participation in both integrated and stand-alone sand contracts to maintain the full revenue potential of both pumping services and sand supply. New contracts outside North America in Australia, Indonesia, India, and the seasonal recovery in China contributed to international growth, while activity in Saudi Arabia benefited from increased stimulation and coiled tubing work as well as from higher completions product sales.

Production pretax operating margin of 10% increased 239 bps sequentially due to the increased activity and operational efficiency improvements of OneStim hydraulic fracturing operations in the North America Land GeoMarket. Margin also improved due to the benefits from the vertical integration of the pressure pumping business.

Production benefited from increased OneStim operations as well as new contract awards and the deployment of advanced stimulation and completions technologies.

In South Texas, OneStim executed a project for Chesapeake Energy to continuously improve operational efficiency in the Eagle Ford Shale play. Through waste identification and elimination, standardized procedures, and technology implementation, OneStim increased total operating time and productivity. Results included a 50% improvement in pad-to-pad mobilization time, a 55% increase in stages placed per day, and a 17% increase in pumping hours per day. On average, Chesapeake saved $150,000 per pad and reduced operating time on each pad by four days.

In South Texas, OneStim used a geoengineered approach to help Lonestar Resources Ltd. increase oil production up to 86% compared with offset wells in the Eagle Ford Shale play. A combination of technologies enabled optimization of drilling, completions, and stimulation plans across long laterals in 18 wells in two fields while avoiding drilling challenges associated with ash beds, faults, and nearby water-bearing zones. The geoengineered wells produced more hydrocarbon per 1,000 ft of lateral section compared with offset wells. On average, six oil wells produced 80% more and four wells in a high gas-to-oil ratio area produced 86% more. ThruBit* through-the-bit logging services improved knowledge of rock properties while the Kinetix Shale* reservoir-centric stimulation-to-production software was used to optimize completion and stimulation treatments.

In Russia, Well Services deployed the BroadBand Precision* integrated completion service for Gazprom Neft to reduce operating time in a well by more than eight days compared with the planned AFE. The reservoir’s complex geology favored a horizontal well with multistage stimulation. BroadBand Precision service set a new field record by completing 30 fracturing stages within 220 hours, which was approximately 53% faster than originally planned.

In Colombia, Ecopetrol awarded Schlumberger a six-year contract for the provision of Artificial Lift Solutions electric submersible pumps (ESPs) and supporting services throughout the country. This will include REDA Maximus* ESP systems equipped with REDA Continuum* unconventional extended-life ESP stages to accommodate a broad range of expected production volumes.

In North Kuwait, Well Services deployed ACTive* real-time downhole coiled tubing services and the OpenPath Reach* extended-contact stimulation service for Kuwait Oil Company to increase total oil production fourfold in four wells in the Sabriya Field. VDA* viscoelastic diverting fluid was deployed to block off a thief zone in a long horizontal water injector well and the OpenPath Reach stimulation treatment created a network of wormholes in the reservoir. This resulted in a 400-psi increase in the reservoir’s bottomhole pressure, improving the effectiveness of the waterflood system while eliminating the need for a workover rig.

In Sakhalin, Schlumberger Completions installed the Manara* production and reservoir management system to enhance production in the Odoptu Field for the Sakhalin-1 Project.


        (Stated in millions)
Three Months Ended     Change
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017 Sequential     Year-on-year
Revenue $1,295 $1,310 $1,265 -1% 2%
Pretax operating income $166 $166 $174 - -5%
Pretax operating margin 12.8% 12.7% 13.8% 17 bps -94 bps

Cameron revenue of $1.3 billion, of which 52% came from international markets, declined 1% sequentially primarily due to lower OneSubsea revenue on a declining project backlog. This decline was partially offset by higher service activity for Surface Systems in North America and higher product sales for Valves & Measurement, while Drilling Systems revenue was essentially flat sequentially. By geography, North America and Latin America revenue grew sequentially, but this was more than offset by lower revenue in Middle East & Asia, while Europe/CIS/Africa revenue was flat.

Cameron pretax operating margin of 13% was essentially flat sequentially, as increased sales in Surface Systems and Valves & Measurement, combined with improved project execution in OneSubsea, offset the impact of falling margin in Drilling Systems from the declining backlog.

Cameron won new contracts during the quarter for managed pressure drilling (MPD) systems and integrated drilling packages as well as integrated services contracts for pressure control equipment management and production enhancement.

Transocean awarded Schlumberger a contract for the provision of key components for two MPD systems for use offshore in the US Gulf of Mexico. The MPD system provides greater control of the annular pressure profile throughout the wellbore and enables drilling of narrow-pressure margin formations safely and more efficiently.

In Norway, Transocean added four floating rigs operating in the Norwegian sector of the North Sea to an existing pressure control equipment management service contract with Schlumberger for a period of 10 years. With this agreement, Schlumberger provides a comprehensive suite of solutions that support maintenance and service of blowout preventer systems and other pressure control equipment for 13 of Transocean’s ultradeepwater and harsh environment drilling rigs.

In Russia, LUKOIL awarded Schlumberger a contract for the provision of a complete drilling package, including pressure control and rig equipment, fluid and solids handling, and a cementing unit for operations in the Caspian Sea. Construction of the rig, which will occur in Astrakhan, is expected to begin in the third quarter of 2019.

Murphy Sabah Oil Co., Ltd. awarded Schlumberger an integrated services contract for a three-well production enhancement campaign offshore in the Siakap North-Petai Field in Malaysia. Contract scope includes project management and vessel services, well stimulation, fluid and pumping services, coiled tubing services, and a OneSubsea MARS* multiple application reinjection system as well as a subsea modular injection system.


Financial Tables

Condensed Consolidated Statement of Income (Loss)
(Stated in millions, except per share amounts)
Second Quarter     Six Months
Periods Ended June 30,         2018     2017     2018     2017
Revenue $8,303 $7,462 $16,131 $14,356
Interest and other income 40 62 82 108
Cost of revenue 7,179 6,468 13,980 12,544
Research & engineering 175 196 347 406
General & administrative 114 110 225 208
Impairments & other (1) 184 510 184 510
Merger & integration (1) - 81 - 164
Interest         144     142     287     281
Income before taxes $547 $17 $1,190 $351
Tax expense (1)         106     98     219     148
Net income (loss) $441 $(81) $971 $203
Net income (loss) attributable to noncontrolling interests         11     (7)     16     (2)
Net income (loss) attributable to Schlumberger (1)         $430     $(74)     $955     $205
Diluted earnings (loss) per share of Schlumberger (1)         $0.31     $(0.05)     $0.69     $0.15
Average shares outstanding 1,384 1,387 1,385 1,390
Average shares outstanding assuming dilution         1,392     1,387     1,393     1,397
Depreciation & amortization included in expenses (2)         $876     $986     $1,750     $1,975
(1)     See section entitled “Charges & Credits” for details.
(2) Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments.

Condensed Consolidated Balance Sheet


(Stated in millions)

Jun. 30, Dec. 31,
Assets         2018       2017
Current Assets
Cash and short-term investments $3,049 $5,089
Receivables 8,606 8,084
Other current assets         5,245       5,324
16,900 18,497
Fixed assets 11,504 11,576
Multiclient seismic data 686 727
Goodwill 25,121 25,118
Intangible assets 9,092 9,354
Other assets         6,853       6,715
          $70,156       $71,987
Liabilities and Equity                  
Current Liabilities
Accounts payable and accrued liabilities $9,367 $10,036
Estimated liability for taxes on income 1,264 1,223
Short-term borrowings and current portion
of long-term debt 3,736 3,324
Dividends payable         699       699
15,066 15,282
Long-term debt 13,865 14,875
Deferred taxes 1,541 1,650
Postretirement benefits 971 1,082
Other liabilities         1,816       1,837
33,259 34,726
Equity         36,897       37,261
          $70,156       $71,987


(Stated in millions)

Components of Liquidity


Jun. 30,



Mar. 31,



Dec. 31,



Jun. 30,


Cash and short-term investments         $3,049     $4,165     $5,089     $6,218
Fixed income investments, held to maturity - - - 13
Short-term borrowings and current portion of long-term debt (3,736) (4,586) (3,324) (2,224)
Long-term debt (13,865) (13,526) (14,875) (16,600)
Net Debt (1) $(14,552) $(13,947) $(13,110) $(12,593)
Details of changes in liquidity follow:
Six Second Six
Months Quarter Months
Periods Ended June 30,                 2018       2018       2017
Net income before noncontrolling interests $971 $441 $203
Impairment and other charges, net of tax before noncontrolling interests 164 164 643
$1,135 $605 $846
Depreciation and amortization (2) 1,750 876 1,975
Stock-based compensation expense 176 86 180
Pension and other postretirement benefits funding (74) (35) (74)
Change in working capital (1,338) (502) (1,339)
Other (94) (43) (74)
Cash flow from operations (3) $1,555 $987 $1,514
Capital expenditures (974) (520) (884)
SPM investments (434) (194) (328)
Multiclient seismic data capitalized (47) (21) (190)
Free cash flow (4) 100 252 112
Dividends paid (1,385) (693) (1,393)
Stock repurchase program (200) (103) (770)
Proceeds from employee stock plans 131 4 143
(1,354) (540) (1,908)
Business acquisitions and investments, net of cash acquired plus debt assumed (47) (34) (364)
Other (41) (31) (200)
Increase in Net Debt (1,442) (605) (2,472)
Net Debt, beginning of period (13,110) (13,947) (10,121)
Net Debt, end of period $(14,552) $(14,552) $(12,593)
(1)     “Net Debt” represents gross debt less cash, short-term investments and fixed income investments, held to maturity. Management believes that Net Debt provides useful information regarding the level of Schlumberger’s indebtedness by reflecting cash and investments that could be used to repay debt. Net Debt is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, total debt.
(2) Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments.
(3) Includes severance payments of $160 million and $84 million during the six months and second quarter ended June 30, 2018, respectively; and $230 million and $90 million during the six months and second quarter ended June 30, 2017, respectively.
(4) “Free cash flow” represents cash flow from operations less capital expenditures, SPM investments and multiclient seismic data costs capitalized. Management believes that free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of Schlumberger’s ability to generate cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. Free cash flow does not represent the residual cash flow available for discretionary expenditures. Free cash flow is a non-GAAP financial measure that should be considered in addition to, not as substitute for or superior to, cash flow from operations.

Charges & Credits

In addition to financial results determined in accordance with US generally accepted accounting principles (GAAP), this second-quarter 2018 earnings release also includes non-GAAP financial measures (as defined under the SEC’s Regulation G). Net income, excluding charges & credits, as well as measures derived from it (including diluted EPS, excluding charges & credits; Schlumberger net income, excluding charges & credits; and effective tax rate, excluding charges & credits) are non-GAAP financial measures. Management believes that the exclusion of charges & credits from these financial measures enables it to evaluate more effectively Schlumberger’s operations period over period and to identify operating trends that could otherwise be masked by the excluded items. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of these non-GAAP measures to the comparable GAAP measures.

(Stated in millions, except per share amounts)
        Second Quarter 2018
Pretax     Tax    



    Net     Diluted


Schlumberger net income (GAAP basis) $547     $106     $11     $430     $0.31
Workforce reductions 184     20     -     164     0.12
Schlumberger net income, excluding charges & credits $731     $126     $11     $594     $0.43
Six Months 2018
Pretax     Tax    



    Net     Diluted


Schlumberger net income (GAAP basis) $1,190 $219 $16 $955 $0.69
Workforce reductions 184     20     -     164     0.12
Schlumberger net income, excluding charges & credits $1,374     $239     $16     $1,119     $0.80
Second Quarter 2017
Pretax     Tax    



    Net     Diluted


Schlumberger net loss (GAAP basis) $17 $98 $(7) $(74) $(0.05)
Promissory note fair value adjustment and other 510 - 12 498 0.36
Merger & integration 81     17     -     64     0.05
Schlumberger net income, excluding charges & credits $608     $115     $5     $488     $0.35
Six Months 2017
Pretax     Tax    



    Net     Diluted


Schlumberger net income (GAAP basis) $351 $148 ($2) $205 $0.15
Promissory note fair value adjustment and other 510 - 12 498 0.36
Merger & integration 164     31     -     133     0.10
Schlumberger net income, excluding charges & credits $1,025     $179     $10     $836     $0.60

* Does not add due to rounding

There were no charges or credits during the first quarter of 2018.



(Stated in millions)
        Three Months Ended
Jun. 30, 2018     Mar. 31, 2018     Jun. 30, 2017












Reservoir Characterization $1,636 $350 $1,556 $307 $1,759 $299
Drilling 2,234 289 2,126 293 2,107 302
Production 3,257 316 2,959 216 2,496 221
Cameron 1,295 166 1,310 166 1,265 174
Eliminations & other (119) (27) (122) (8) (165) (46)
Pretax operating income 1,094 974 950
Corporate & other (239) (225) (242)
Interest income(1) 11 25 28
Interest expense(1) (135) (131) (128)
Charges & credits   (184)   -   (591)
$8,303 $547 $7,829 $643 $7,462 $17
(Stated in millions)
Six Months Ended
Jun. 30, 2018 Jun. 30, 2017








Reservoir Characterization $3,192 $657 $3,377 $580
Drilling 4,360 582 4,092 531
Production 6,216 532 4,683 331
Cameron 2,605 332 2,494 336
Eliminations & other (242) (35) (290) (71)
Pretax operating income 2,068 1,707
Corporate & other (464) (480)
Interest income(1) 36 52
Interest expense(1) (266) (254)
Charges & credits   (184)   (674)
$16,131 $1,190 $14,356 $351

(1) Excludes interest included in the Segments results.


Supplemental Information




What is the capex guidance for the full year 2018?

Capex (excluding multiclient and SPM investments) for the full year 2018 is expected to be approximately $2 billion, which is similar to the levels of 2017 and 2016.


What was the cash flow from operations for the second quarter of 2018?

Cash flow from operations for the second quarter of 2018 was $987 million and included $84 million of severance payments.


What was the cash flow from operations for the first half of 2018?

Cash flow from operations for the first half of 2018 was $1.6 billion and included approximately $160 million of severance payments.


What was included in “Interest and other income” for the second quarter of 2018?

“Interest and other income” for the second quarter of 2018 was $40 million. This amount consisted of earnings of equity method investments of $28 million and interest income of $12 million.


How did interest income and interest expense change during the second quarter of 2018?

Interest income of $12 million declined $16 million sequentially. Interest expense of $144 million was essentially flat sequentially.


What is the difference between pretax operating income and Schlumberger’s consolidated income before taxes?

The difference principally consists of corporate items, charges and credits, and interest income and interest expense not allocated to the segments as well as stock-based compensation expense, amortization expense associated with certain intangible assets, certain centrally managed initiatives, and other nonoperating items.


What was the effective tax rate (ETR) for the second quarter of 2018?

The ETR for the second quarter of 2018, calculated in accordance with GAAP, was 19.3% as compared to 17.6% for the first quarter of 2018. Excluding charges and credits, the ETR for the second quarter of 2018 was 17.2%. There were no charges and credits in the first quarter of 2018.


How many shares of common stock were outstanding as of June 30, 2018 and how did this change from the end of the previous quarter?

There were 1.384 billion shares of common stock outstanding as of June 30, 2018. The following table shows the change in the number of shares outstanding from March 31, 2018 to June 30, 2018.
(Stated in millions)
Shares outstanding at March 31, 2018           1,385
Shares issued to optionees, less shares exchanged -
Vesting of restricted stock -
Shares issued under employee stock purchase plan -
Stock repurchase program (1)
Shares outstanding at June 30, 2018 1,384



What was the weighted average number of shares outstanding during the second quarter of 2018 and first quarter of 2018, and how does this reconcile to the average number of shares outstanding, assuming dilution used in the calculation of diluted earnings per share, excluding charges and credits?

The weighted average number of shares outstanding was 1.384 billion during the second quarter of 2018 and 1.385 billion during the first quarter of 2018.
The following is a reconciliation of the weighted average shares outstanding to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share, excluding charges and credits.
(Stated in millions)

Second Quarter



First Quarter


Weighted average shares outstanding 1,384


Assumed exercise of stock options 1


Unvested restricted stock 7


Average shares outstanding, assuming dilution 1,392





What are Schlumberger Production Management (SPM) projects and how does Schlumberger recognize revenue from these projects?

SPM projects are focused on developing and comanaging production on behalf of Schlumberger customers under long-term agreements. Schlumberger will invest its own services, products, and in some cases, cash, into the field development activities and operations. Although in certain arrangements Schlumberger recognizes revenue and is paid for a portion of the services or products it provides, generally Schlumberger will not be paid at the time of providing its services or upon delivery of its products. Instead, Schlumberger recognizes revenue and is compensated based upon cash flow generated or on a fee-per-barrel basis. This may include certain arrangements whereby Schlumberger is only compensated based upon incremental production it helps deliver above a mutually agreed baseline.


How are Schlumberger products and services that are invested in SPM projects accounted for?

Revenue and the related costs are recorded within the respective Schlumberger Segment for services and products that each Segment provides to Schlumberger’s SPM projects. This revenue (which is based on arms-length pricing) and the related profit is then eliminated through an intercompany adjustment that is included within the “Eliminations & other” line (Note that the “Eliminations & other” line includes other items in addition to the SPM eliminations). The direct cost associated with providing Schlumberger services or products to SPM projects is then capitalized on the balance sheet.

These capitalized investments, which may be in the form of cash as well as the previously mentioned direct costs, are expensed in the income statement as the related production is achieved and associated revenue is recognized. This amortization expense is based on the units of production method, whereby each unit is assigned a pro-rata portion of the unamortized costs based on total estimated production.

SPM revenue along with the amortization of the capitalized investments and other operating costs incurred in the period are reflected within Production.



What was the unamortized balance of Schlumberger’s investment in SPM projects at June 30, 2018 and how did it change in terms of investment and amortization when compared to March 31, 2018?

The unamortized balance of Schlumberger’s investments in SPM projects was approximately $4.1 billion at both June 30, 2018 and March 31, 2018. These amounts are included within Other Assets in Schlumberger’s Condensed Consolidated Balance Sheet. The change in the unamortized balance of Schlumberger’s investment in SPM projects was as follows:

(Stated in millions)
Balance at March 31, 2018         $4,112
SPM investments 194
Amortization of SPM investment (135)
Translation & other (95)
Balance at June 30, 2018 $4,076



What was the amount of WesternGeco multiclient sales in the second quarter of 2018?

Multiclient sales, including transfer fees, were $117 million in the second quarter of 2018 and $119 million in the first quarter of 2018.


What was the WesternGeco backlog at the end of the second quarter of 2018?

The WesternGeco backlog, which is based on signed contracts with customers, was $317 million at the end of the second quarter of 2018. It was $358 million at the end of the first quarter of 2018.


What were the orders and backlog for the Cameron OneSubsea and Drilling Systems businesses?

The OneSubsea and Drilling Systems orders and backlog were as follows:
        (Stated in millions)

Second Quarter



First Quarter


OneSubsea $312 $329
Drilling Systems $288 $218


Backlog (at the end of period)
OneSubsea $1,654 $2,002

Drilling Systems

$482 $398



About Schlumberger

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London, and The Hague, and reported revenues of $30.44 billion in 2017. For more information, visit www.slb.com.

*Mark of Schlumberger or Schlumberger companies.

Japan Oil, Gas and Metals National Corporation (JOGMEC), formerly Japan National Oil Corporation (JNOC), and Schlumberger collaborated on a research project to develop logging while drilling (LWD) technology that reduces the need for traditional chemical sources. Designed around the pulsed neutron generator (PNG), EcoScope service uses technology that resulted from this collaboration. The PNG and the comprehensive suite of measurements in a single collar are key components of the EcoScope service that deliver game-changing LWD technology.


Schlumberger will hold a conference call to discuss the earnings press release and business outlook on Friday, July 20, 2018. The call is scheduled to begin at 8:30 a.m. US Eastern Time. To access the call, which is open to the public, please contact the conference call operator at +1 (800) 288-8967 within North America, or +1 (612) 333-4911 outside North America, approximately 10 minutes prior to the call’s scheduled start time. Ask for the “Schlumberger Earnings Conference Call.” At the conclusion of the conference call, an audio replay will be available until August 20, 2018 by dialing +1 (800) 475-6701 within North America, or +1 (320) 365-3844 outside North America, and providing the access code 449359. The conference call will be webcast simultaneously at www.slb.com/irwebcast on a listen-only basis. A replay of the webcast will also be available at the same web site until August 31, 2018.

This second-quarter 2018 earnings release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts, such as our forecasts or expectations regarding business outlook; growth for Schlumberger as a whole and for each of its segments (and for specified products or geographic areas within each segment); oil and natural gas demand and production growth; oil and natural gas prices; improvements in operating procedures and technology, including our transformation program; capital expenditures by Schlumberger and the oil and gas industry; the business strategies of Schlumberger’s customers; the effects of U.S. tax reform; our effective tax rate; the success of Schlumberger’s SPM projects, and joint ventures and alliances; future global economic conditions; and future results of operations. These statements are subject to risks and uncertainties, including, but not limited to, global economic conditions; changes in exploration and production spending by Schlumberger’s customers and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; foreign currency risk; pricing pressure; weather and seasonal factors; operational modifications, delays or cancellations; production declines; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services and climate-related initiatives; the inability of technology to meet new challenges in exploration; and other risks and uncertainties detailed in this second-quarter 2018 earnings release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

LONDON--(BUSINESS WIRE)--The global smart waste management market is expected to post a CAGR of close to 18% during the period 2018-2022, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the improved operational efficiency of waste management lifecycle. Smart waste management improves the operational efficiency of the waste management lifecycle. Smart waste management uses smart bins, which are equipped with lasers to detect and eliminate bin overflow. For example, companies such as Enevo have developed a software system that works in conjunction with a sensor in the bin to communicate with the waste management company and estimate the temperature inside the bin, the capacity of the bin, and the need for emptying.

This market research report on the global smart waste management market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio highlights the advent of smart technologies as one of the key emerging trends in the global smart waste management market:

Global smart waste management market: Advent of smart technologies

There have been several advances in technologies such as advanced driver-assistance systems, autonomous cars, Industrial Internet of Things, AI infused hardware, and real-time and embedded systems. The advent of such advanced technologies will improve the fleet data capture process by introducing efficiency.

“For example, in 2017, companies such as Waste Management equipped waste collection trucks with tablets and windshield-mounted drive cameras and implemented a back-end routing software in the waste collection process. The growing volume of data generated by from these cameras and trackers can be used to optimize service delivery and track driver performance. The use of such equipment provides real-time data to improve the process awareness of drivers,” says a senior analyst at Technavio for research on water and waste management.

Global smart waste management market: Segmentation analysis

This market research report segments the global smart waste management market by application (collection, landfill, R&R, and processing) and geographical regions (APAC, EMEA, and the Americas).

The collection segment held the largest market share in 2017, accounting for nearly 62% of the market. This application segment is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2017 with a market share of nearly 38% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at This email address is being protected from spambots. You need JavaScript enabled to view it..

SAN DIEGO & GLENDORA, Calif.--(BUSINESS WIRE)--EDF Renewables North America announces the signing of a 25-year Power Purchase Agreement (PPA) with Southern California Public Power Authority (SCPPA) for the energy and renewable attributes related to the 70 megawatts (MWac) / 100.8 MWdc Desert Harvest II solar photovoltaic project under a Renewable Energy Credit (REC) + Index structure. The Desert Harvest II Solar Project is expected to begin delivery of clean electricity to SCPPA’s participating members, Anaheim, Burbank, and Vernon, starting in 2020. In conjunction, EDF Renewables signed a long-term financial hedge for power with Morgan Stanley Capital Group Inc.

This transaction demonstrates EDF Renewables’ ability to create customer-centric solutions. Under the SCPPA PPA, EDF Renewables worked diligently with forward-thinking California municipalities to create a structuring solution to address the specific challenges posed by the California “duck curve.” EDF Renewables is able to provide SCPPA with a PPA structure that shelters the buyer from exposure to merchant prices through the utilization of a long-term hedge, coupled with a 35 MW, 4-hour energy storage system (ESS), which are both the responsibility of and for the benefit of the Seller.

The Desert Harvest II Solar Project is located on unincorporated land in Riverside County, California, administered by the Federal Bureau of Land Management (BLM). The BLM designated this area as a Solar Energy Zone (SEZ) and Development Focus Area, land set aside for utility-scale renewable energy development. Desert Harvest II is also specially designed to generate clean energy while protecting wildlife habitat and public lands. The project will utilize horizontal single-axis tracking solar photovoltaic (PV) technology.

“EDF Renewables is pleased to partner with SCPPA’s participating members – Anaheim, Burbank, and Vernon - to supply affordable, in-state solar energy to their customers from the Desert Harvest II Solar Project,” commented Ryan Pfaff, executive vice president of grid-scale power at EDF Renewables. “Desert Harvest II represents the Company’s second collaboration with SCPPA, and we look forward to working with them to make the project a success, providing a boost to the Riverside County economy in parallel through the creation of new jobs.”

SCPPA’s Executive Director, Mike Webster, states “EDF Renewable’s Desert Harvest II Solar Project will help to allow our participating member utilities to be on track to achieve their renewable production goals of 40% by the end of 2024.”

In addition to its economic benefits for Riverside County, the project will utilize an innovative design to generate enough clean energy to meet the consumption of up to 35,000 average California homes. This is equivalent to avoiding more than 173,000 metric tons of CO₂ emissions annually1 which represents the greenhouse gas emissions from 37,000 passenger vehicles driven over the course of one year.

1 According to US EPA Greenhouse Gas Equivalencies calculations.

About EDF Renewables North America:

EDF Renewables North America is a market leading independent power producer and service provider with over 30 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 10 GW of developed projects and 10 GW under service contracts. EDF Renewables is a subsidiary of EDF Energies Nouvelles, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com.

WALL, N.J.--(BUSINESS WIRE)--New Jersey Natural Gas (NJNG) has been named a 2018 Most Trusted Utility Brand according to a new Cogent Reports study by Market Strategies International, which identifies utilities that have earned the trust of their customers and are perceived to be industry leaders on innovation.

The 2018 study measured the performance of the 133 largest natural gas, electric and combined utility companies throughout the country. NJNG ranked seventh among all natural gas utilities, third in the east and top in the state.

“To be recognized as an Elite Most Trusted Utility Brand is an honor for our company and a testament to our more than 1,100 employees,” said Steve Westhoven, chief operating officer of New Jersey Natural Gas. “This award exemplifies our commitment to meeting customers’ expectations for safety, reliability and value, every day.”

The Utility Trusted Brand and Customer Engagement™ Residential Study provides a comprehensive view into utilities’ relationships with their residential customers, which includes operational satisfaction, product experience and brand trust. It is based on an online survey of over 60,000 residential utility customers comprised of 35 rating questions about performance, including safety and reliability of service, customer and field service, reliability of quality, environmental focus, billing and payment processes and communications effectiveness.

More information about the report may be found at marketstrategies.com.

About New Jersey Resources

New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,400 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of nearly 320 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility, as well as its 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,000 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:

Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad, iPhone and Android.

TORONTO--(BUSINESS WIRE)--Today, Clear Blue Technologies International Inc. (TSXV:CBLU), the Smart Off-Grid™ company, will commence trading on the TSX Venture Exchange (TSXV) at open of the market under the symbol "CBLU". TSXV is Canada’s premium exchange for technology companies.

“Listing on the TSXV will provide Clear Blue with access to additional capital to build on our mission of solving the global need for reliable, affordable, clean power,” says Miriam Tuerk, co-founder and CEO, Clear Blue Technologies International. “Our patented Smart Off-Grid technology already reliably powers thousands of solar, wind, and hybrid-powered systems for lighting, telecommunications, security and IoT devices in 34 countries worldwide. Additional capital will let us take advantage of the tremendous market opportunity we see for our technology and managed power services.”

Clear Blue has partnerships and initiatives with major telecom and innovative power providers in developed and emerging markets. This includes a collaboration with the Telecom Infra Project, an initiative co-founded by Facebook, Intel, Nokia, SK Telecom and Deutsche Telekom to improve internet connectivity in rural areas worldwide.

About Clear Blue Technologies International Inc.

Clear Blue, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power.” The company develops and sells Smart Off-Grid power solutions and cloud-based management services to power, control, monitor, manage and proactively service solar, wind and hybrid-powered systems such as street lights, security systems, telecommunications systems, emergency power, and IoT devices. Under its Illumient brand, Clear Blue also sells solar and wind-powered outdoor lighting systems.

About Miriam Tuerk

Miriam Tuerk, CEO and co-founder of Clear Blue, has over 20 years of experience as a tech entrepreneur and leader in the telecom, fintech and big data. She has a proven track-record launching clean tech, big data, open source and cloud-based solutions, and has clean energy patents to her name. Prior to founding Clear Blue Technologies, Miriam was president and CEO of Infobright, and president of the Canadian Division of BCE Emergis. She is also a Forbes contributor and has been an advisor or board member to a number of early-stage startups.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mytrah won to set up a 100 MW capacity in the state with a tariff of ₹2.86

GE Renewable Energy Business, LM Wind Power announced today the planned acquisition of the WMC test facilities in Wieringerwerf, Netherlands. The transaction is expected to close within a few weeks' time subject to certain pre-completion conditions.

The facility will provide rotor hub testing for new GE turbines and also continue to offer blade and other testing, digital tools, research and similar services to the wider wind industry in Netherlands and elsewhere.

LM Wind Power plans to expand and develop the facility over time. The 23 current employees comprise highly-qualified experts in composites and rotor blade testing. All will be retained to help grow the business.

LM Wind Power has a growing presence in the Netherlands. It has its global management office at World Trade Center, Schiphol, with 44 employees representing 16 nationalities and a research facility in Heerhugowaard with 40 employees representing 14 nationalities. The company was acquired by GE in April 2017, a world leader in renewable energy and it continues to grow at pace, providing advanced wind turbine blades to customers all over the world.

Aart van der Pal, Chairman of the Board of WMC commented, "The acquisition of the WMC wind turbine blade test facility in Wieringerwerf secures a promising future for the 23 employees and ensures growth and opportunity for this important Dutch facility. We look forward to playing a key role in the future developments of advanced wind turbine rotor blades."

"The new test facilities will further contribute to LM Wind Power's research and development capabilities for the design and manufacture of advanced wind turbine blades and other components," said Duncan Berry CEO, LM Wind Power. "We are delighted to retain the talented existing workforce and supplement LM Wind Power and GE's growing presence in a strategic green industry in the Netherlands. These are valuable, senior, technical jobs and we provide employment to a significant and increasing number of graduates and post graduates from the best Dutch Universities including Delft, Twente, Eindhoven and Amsterdam."

LM Wind Power is the first company in the wind industry to become fully carbon neutral. For more information visit our website at www.lmwindpower.com


For more information:
Katelyn Huber, Global Communications & Sustainability This email address is being protected from spambots. You need JavaScript enabled to view it. +45 50120459

For Dutch language inquiries:
Marina Millington-Ward, Stampa Communications This email address is being protected from spambots. You need JavaScript enabled to view it. +31 20 404 2630

About LM Wind Power
LM Wind Power is a world leading designer and manufacturer of rotor blades for wind turbines, with a global manufacturing footprint that includes blade factories in Brazil, Canada, China, Denmark, India, Poland, Spain, France, Turkey and the United States. The company has produced more than 205,000 blades since 1978, corresponding to more than 93 GW installed capacity and global savings of 189 million tons of CO2 annually. LM Wind Power is a GE Renewable Energy Business. Learn more at www.lmwindpower.com or on twitter @lmwindpower

About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy. Follow us at www.ge.com/renewableenergy or on twitter @GErenewables

Thursday, June 28th, 2018, Cherbourg, France: GE will recruit about 100 people until the end 2018 for its new LM Wind Power offshore wind turbine blades plant. The company will offer each new employee a training and certification program in the local "Center of Excellence", in preparation for the start of the prototyping phase expected in January 2019.

LM Wind Power will train each new employee, through a four to six-week theoretical and practical program, to wind turbine blades manufacturing. The trainings take place in France and in factories in Spain and Poland, in training centers, on production lines, and during various workshops. The Cherbourg site trains teams of skilled workers through this standardized process, based on experiential learning using the best training material, updated and supported by a technical team of professionals and mentors.

Duncan Berry, President and CEO, LM Wind Power said: "This plant will become a source of employment in the region. One hundred managers, technicians and operators on permanent contracts are to be filled in the year 2018. The recruitments will be pursued in 2019 and during periods of full production, the site should accommodate more than 550 people".

This facility will provide a significant number of highly skilled jobs over the long term, benefiting the economy and the local community. The activity could also create up to 2000 indirect jobs in the region.

The plant starts today by recruiting the management team, and about ten employees have already taken up their duties in the factory. The site has identified candidates for a quarter of the positions to be filled, which leaves around 70 vacancies in 2018. LM Wind Power looks for employees who possess some management skills, to be able to promote these employees as team leaders as new groups of colleagues come in.

The plant will serve all customers in the growing European offshore wind turbine market, and will have the capability to produce the world's longest blade, a 107-meter length blade dedicated to the Haliade-X 12MW. An extension of the plant is starting, in order to ensure the expected production capacity of this blade.


About LM Wind Power
LM Wind Power is a world leading designer and manufacturer of rotor blades for wind turbines, with a global manufacturing footprint that includes blade factories in Brazil, Canada, China, Denmark, India, Poland, Spain, France, Turkey and the United States. The company has produced more than 205,000 blades since 1978, corresponding to more than 93 GW installed capacity and global savings of 189 million tons of CO2 annually. LM Wind Power is a GE Renewable Energy Business. Learn more at www.lmwindpower.com

About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
Follow us at www.ge.com/renewableenergy or on twitter @GErenewables

Brossard, Canada 27 June 2018 – The Hydropower business of GE Renewable Energy announced during the Hydrovision conference taking place in Charlotte, NC, that it has been chosen by Seattle City Light (SCL), the seventh largest publicly owned utility in the US, to rebuild three generators in the powerhouse of the Boundary Dam. The Boundary Dam is located on the Pend Oreille River in Northeastern Washington State and supplies up to 30 percent of SCL's annual energy needs.

The project includes refurbishment of powerhouse generators 51, 52, and 54 (3 x 145 MVA) as well as engineering and site work. The project will improve the nameplate output of the generators from 166 MVA (generators 51 and 53) and 170 MVA (generator 52) to 190 MVA, reducing power loses and enhancing grid stability. This rehabilitation will allow safe and reliable operation for the next 40 years. The project will be managed by GE Renewable Energy's teams based in Denver, CO and Brossard, Canada. Onsite work on the generators covered in this project is set to begin in July, 2019 and is scheduled to be completed by May, 2022. The GE Renewable Energy teams are already familiar with the plant for which they had previously been called to refurbish generator 53.

"Seattle City Light is pleased with the outcome of this solicitation and looks forward to a strong relationship with GE as we continue to enhance our renewable energy portfolio for our customers," said Seattle City Light Power Supply Officer Mike Haynes.

GE Renewable Energy was also selected earlier this year by the Eugene Water & Electric Board, a public utility serving the Eugene, Oregon area, to rehabilitate two 50 MW turbine-generator units on the Carmen Smith Hydroelectric Project. The work on the first unit is expected to be completed by the end of 2020 and second unit will be completed by the end of 2021.

Pierre Marx, General Manager for GE Renewable Energy's Hydro business in North America, said, "We appreciate the confidence that Seattle City Light & Eugene Water & Electric Board have shown in GE Renewable Energy. Our teams in Brossard, Canada and Denver, Colorado, are working closely with our customers to deliver the best outcomes to them. It is more important than ever to keep the US hydro fleet operating at full capacity given its critical role in maintaining stable and efficient electric service while enabling the addition of other renewable power sources like wind and solar."

According to the Department of Energy's Hydropower Vision report U.S. hydropower could grow from its current 101 gigawatts (GW) to nearly 150 GW of combined electricity generating and storage capacity by 2050. The DOE report notes that existing hydropower facilities have high value within the U.S. energy sector, providing low-cost, low-carbon, renewable energy as well as flexible grid support services.


About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatt capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
Follow us @GErenewables and www.ge.com/renewableenergy

Jean-Bernard Lévy, the EDF Group Chairman and Chief Executive Officer, Bruno Bensasson, the Group Executive Vice-President in charge of Renewable Energies and Simone Rossi, EDF Energy Chief Executive Officer officially opened two ground breaking projects in the United Kingdom: the Blyth off-shore wind farm and the West Burton B battery storage facility.

SAN DIEGO (June 20, 2018) – EDF Renewables announced today the signing of Purchase and Sale Agreements (PSA) by which PGGM Infrastructure Fund will acquire a 50% ownership interest in the following projects: Red Pine Wind, Rock Falls Wind, Switch Station 1 Solar and Switch Station 2 Solar. Total capacity of the portfolio of projects is 588 megawatts (MW). Completion of the transaction is subject to regulatory approval and customary conditions precedent.

EDF Renewables will remain involved in the projects as a co-owner providing management services and provider of operations and maintenance services.

Raphael Declercq, executive vice president of strategy for EDF Renewables commented, “This portfolio of wind and solar projects provides an attractive investment opportunity in the US renewable energy sector, well suited for a large pension fund. We are pleased to forge a new business relationship with PGGM and expect to follow with another transaction. We are confident that our expertise as a developer and operator complements PGGM’s renewable energy investment strategy.”

Erik van de Brake, head of infrastructure at PGGM commented, “This transaction enables PGGM to work closely with EDF Renewables, known for its great expertise in developing and operating renewable energy projects. The addition of this portfolio to our investments in renewable energy is part of PGGM’s push to build up a EUR 20 bn. impact investment portfolio across all asset classes for our client PFZW, the Dutch pension fund for the healthcare sector. With the impact investment portfolio PFZW aims to make a positive impact on climate, water scarcity, food security and healthcare.’’

EDF Renewables is one of the largest renewable energy developers in North America with 10 gigawatts of wind, solar, storage, biomass and biogas projects developed throughout the U.S., Canada, and Mexico.


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2.1 million farms cover our country’s rural landscapes, and 99 percent of them are family-owned and operated. And now, a growing number of them host wind turbines. Increasingly, the extra income from wind projects helps keep these farms in the family and the family on the farm, even in uncertain times. 

Fluctuating crop prices affect farmer’s livelihoods 

Weather, supply, demand, and policy can all affect crop prices. A change in just one of these aspects can increase volatility or influence long-term trends.  

Over the past 20 years, agricultural commodity prices have hit both highs and lows. But since 2012, rates have steadily declined due to strong supply and weak demand. Beyond this, more short-term fluctuations due to weather or policy changes add extra layers of uncertainty to a farming family’s income.  

This June alone, the total value of the U.S. corn, soybean and wheat crops dropped 10 percent, or roughly $13 billion. Soybean prices have fallen around 18 percent, heading to their lowest point in nearly a decade. A University of Illinois analysis found that to make a profit on soybeans, farmers must make around $10.05 a bushel for the 2018 harvest. Currently, farmers are getting $8.40. That’s a troubling gap.

Though crop prices have dropped over time, production costs have not, creating tightening profit margins. Volatile commodity prices affect a farmer’s bottom line, putting them at risk for significant debt or even bankruptcy.

Trade disputes can cut into farm profits

After the U.S. announced tariffs on $34 billion of Chinese products this month, China responded with taxes of their own, primarily on agricultural products like pork and soybeans. These are the kinds of goods made by family farmers in America’s heartland.

In 2017, Texas farmers sent $42 billion worth of goods to China. Castro County, in the center of the Texas Panhandle, is a top agricultural producer in the state. Its economy centers on dairies, corn and cotton. Analysis from Moody’s Analytics shows that U.S. tariffs on China could negatively affect nearly 25 percent of Castro County’s GDP.

Wind turbines are a stable income source in an uncertain time

Fortunately, many farmers in Castro County have a stable cash-crop that is policy and drought resistant. Castro County is ranked sixth in the nation for most megawatts of installed wind capacity and hosts 282 turbines.

Landowners who host one or more of these turbines on their property receive yearly lease payments from wind companies, offering a new source of stable revenue. This passive income source can help keep farms afloat in times like these.

In 2017 alone, Texas landowners received more than $60 million in lease payments. Across the country, wind projects paid farmers and ranchers an estimated $267 million.

Turbine income allows landowners to invest in farm equipment improvements

Wind turbines can not only help landowners stay afloat, but also can increase certainty about the future. A 2014 study found that farmers with turbines on their land have invested twice as much in their operations over the past five years as farmers without them. Farmers with turbines are also more likely to believe that their land will stay in their family once they retire.

Dr. Sarah Mills of the University of Michigan’s Gerald R. Ford School of Public Policy also took a look at this question in a paper entitled, “Farming the wind: The impacts of wind energy on farming.” Some of her key findings include:

John Dudley, a Texas farmer said, “It will not change how we operate, it will not change anything about our lives. But it will be an additional income stream that I suspect will be very handy. It will allow the family to have the ranch for a long time.”

Wind power adds a significant economic boost to agricultural America, becoming even more important during uncertain times like these.

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As the administration continues developing plans to prop up aging, uneconomic coal and nuclear plants, many have wondered what the price tag for consumers would look like. Today, a new report is out from the Brattle Group that gives us a glimpse of what a two-year down payment for bailing out these plants could cost: between $9.7 and $35 billion a year.

Here’s a rundown of what cost figures could look like:

  • $16.7 billion per year, or roughly $34 billion for two years as proposed, if every coal and nuclear plant in the country were given a uniform ($ per unit of capacity) support at the level of the average financial shortfall experienced by such plants;
  • $9.7 billion to $17.2 billion annually, or roughly $20 billion to $34 billion over two years, if only those plants now facing shortfalls were given payments sufficient to cover their operating losses; or
  • $20 billion to $35 billion annually, or $40 billion to $70 billion total, if power plant owners were also granted a return on their invested capital in addition to payments for operating shortfalls.

“This report clearly shows that proposals to prop up coal and nuclear resources will needlessly raise the cost of electricity and hamstring U.S. manufacturers to compete in increasingly competitive domestic and international markets,” said John Hughes, President and CEO of the Electricity Consumers Resources Council. “I fear, however, the impact is underestimated and that the actual impact on consumers will be worse.”

“Bailouts of coal and nuclear plants around the country could raise costs on American consumers and fundamentally hurt the administration’s goal of American energy dominance throughout the world,” said Todd Snitchler, Market Development Group Director at the American Petroleum Institute. “[G]overnment mandates forcing consumers to buy coal and nuclear power does nothing advance the security of our nation’s electric grid.”

“Arresting the retirement of uneconomic generating assets in the current market environment will likely prove quite costly,” Brattle notes.

As a reminder, grid operators, experts and utilities have all said that the nation’s electric grid faces no reliability or resiliency emergencies.

There is “no immediate calamity or threat” according to Federal Energy Regulatory Commission Chairman Kevin McIntyre.

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Get ready– American Wind Week 2018 (August 5-11) is less than a month away!

From barbeques to wind farm tours, a dozen events and counting spanning more than 10 states are in the works. And they all have at least one thing in common—they’ll be celebrating American wind leadership.

What kinds of events can we expect to see this American Wind Week?

In New Mexico, Pattern Energy and AWEA will host an advocacy training on August 10 at Mesalands Community College. Attendees will learn pro tips on how to meet with their elected officials, share their opinions in their newspapers and much more. Mesalands trains the next generation of American wind techs, one of the country’s two fastest growing jobs along with solar installer, according to the U.S. Bureau of Labor Statistics.

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What else is going on during American Wind Week?

A camp in North Dakota will teach kids how to fly drones, a growing wind O&M tool. Members of Congress and state lawmakers are visiting the men and women in their districts who have rewarding wind careers, there will be opportunities to learn about wind at county fairs, and so much more. Keep track of everything going on by following #AmericanWindWeek on social media.

Last year, wind became America’s largest source of renewable energy capacity. And with world-class wind resources and innovative technology, this all-American energy source will continue growing its lead while creating jobs in farm, factory and port towns across all 50 states.

We still need your help to make American Wind Week stretch from coast to coast– invite an elected official to visit your wind farm or factory, host an open house or promote wind energy at a public event.

Events can be planned anywhere the wind blows in this 50 state industry, but big wind states like Texas, Iowa and Nebraska shouldn’t go without a Wind Week event. If you’re interested in organizing an event in one in these states or others, you can join the movement by emailing AWEA at This email address is being protected from spambots. You need JavaScript enabled to view it.. We have a lot to celebrate this August 5-11, so let’s make sure we tell the whole story!

Here’s a look back at American Wind Week 2017, which serves as a preview of what’s to come in just a few short weeks.

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PES Wind

PES asked Steve Sawyer, Secretary General at GWEC for his outlook on the future of the wind industry markets. Will prices continue to fall or have they reached their lowest point? Where is the market increasing? Where is it slowing down? Read on and find out…

The global wind power market remained above 50 GW in 2017, with Europe, India and the offshore sector all having record years. Chinese installations were down – 19.66 GW – but the rest of the world made up for most of that. Total installations in 2017 were 52,492 MW, bringing the global total to 539,123 MW. The annual market was in fact down 3.8% on 2016’s 54,642 MW; and the cumulative total is up 11% over 2016’s year-end total of 487,219 MW.

The offshore segment had a record year with 4,331 MW of installations, an 87% increase on the 2016 market, bringing total global installations to 18,814 MW, and representing a 30% increase in cumulative capacity globally. Offshore was about 8.4% of the 2017 annual market, and represents about 3.5% of cumulative installed capacity, but it’s growing quickly.

Total new investment in clean energy rose to US$ 333.5bn (€296.8bn1) in 2017, up 3% over 2016, but still lower than the record investment of USD 348.5bn (EUR 324.6bn) in 2015. According to BNEF, China alone accounted for 40% of total investment with US$ 133bn (EUR 118.7bn); and the Asia Pacific region as a whole invested US$ 187 billion, over 57% of the total. Total investment in wind amounted to 107 billion US$.2

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Responsibility, technical skills, dedication to the mission, the desire to serve a greater good, and the ability to work as a team– these are all traits found in abundance among America’s veterans. The men and women who served our country have brought these qualities to wind energy jobs across the country, and they’re a huge reason why U.S. wind power has grown so successfully in recent years. In fact, America’s veterans find wind jobs at a rate 72 percent higher than the average U.S. industry.

Now, a new bill could help even more veterans bring their valuable skills to rewarding careers in wind.

U.S. Senators Tammy Duckworth (D-IL), Lindsey Graham (R-SC) and Michael Bennet (D-CO) recently introduced the Energy Jobs for Our Heroes Act of 2018. Their bill would help veterans get the necessary training to enter renewable careers once they finish serving.

“I’m very excited to be a part of this effort to do two great things for our country: help veterans find jobs and boost the clean energy economy,” said Sen. Graham.

“Our bill will provide servicemembers and Veterans with the training they need to work in some of our nation’s fastest-growing industries, while also helping clean energy companies – which already employ Veterans at high rates across the country – find highly-skilled and dedicated workers as they experience exponential growth and provide more of our nation’s energy supply,” said Sen. Duckworth.

“I used to do something amazing when I was in the Coast Guard, and I missed doing that,” said Casey Whitt, Product Specialist at Power Climber Wind. “Taking this job, I started out doing electronic repairs on the service lifts and queuing those and fixing them, and then I moved into the travel aspect. I regained everything that I lost from the Coast Guard.”

You can ask your Senators to create more opportunities like the ones in the video below by clicking here.

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Despite a rocky transition from the old incentives to the new competitive tendering process, the Indian wind sector is entering a major new growth phase, and is well on its way to meeting the target of 60 GW by 2022, perhaps well ahead of time. The government is also moving ahead quickly to develop the offshore segment, setting aggressive targets and plans for the first offshore wind projects off the coast of Gujarat.

Our second edition of Windergy India will take place in New Delhi from 13-15 February 2019 in collaboration with the Indian Wind Turbine Manufacturers Association (IWTMA). The two-day conference will feature a range of sessions and networking opportunities where attendees can discuss and hear about the most recent policy, market and technology updates. The three-day business exhibition will offer the possibility for companies from across the entire supply chain to display or present their latest developments and services.

More information will be available soon on the Windergy India website. If your company is, or has ambitions to be, a key player in the Indian wind market, you should consider being a high level sponsor of the event, or book a booth in the exhibition. GWEC members will have access to discounts for exhibition space. For further information, please contact Carolyn Gill at [email protected].

Together with the entire Product Development team, the Senvion Patent Department is constantly looking for innovative approaches that will make Senvion and the wind industry better, cheaper or more adaptable in the future. In this case, the Senvion colleagues have jointly managed to find a patent solution for sound emissions from the turbines in the truest sense of the word. The “Hamburger Wirtschaft” magazine has taken a close look at the innovation:

Senvion has developed an innovative procedure for reducing the operating noise of wind turbines. The innovation and patent center has selected it as ‘Patent of the Month.’

Wherever wind turbines are installed, one topic generally arises sooner or later: are the turbines too loud?

It is a fact that roughly one third of German gross electricity consumption is currently covered by renewable energy sources. In 2016, wind energy usage in particular was further expanded in Germany. According to the register of installations of the German Bundesnetzagentur for Electricity, Gas, Telecommunications, Post and Railway, new onshore wind turbines with a total power of 4,402 megawatts were commissioned. This represents a 10 percent increase on the previous year. One of the manufacturers of wind turbines is Senvion GmbH (up to 2014: REpower Systems), which has its German headquarters in Hamburg.

Less and less space is available for wind farms. To achieve more power, old turbines are being replaced with new ones and increasingly wind farms are being built closer to residential areas or nature reserves. “The importance of noise protection has increased,” says Ulrike Keltsch, head of the patent department at Senvion. In addition to residents, animals can also be disturbed by the operating noises.

In summer 2015, Senvion's Development department applied for a patent for a procedure that can reduce the sound volume of the wind turbines in operation. The noise emissions of wind turbine generators include broadband noises that form a masking noise. However, narrowband noises may also be audible under certain circumstances; for example they can be caused by a generator or a gearbox of the wind turbine. The invention consists of a noise emission control device for a wind turbine that reduces any noises that may arise by surrounding them with the broadband noises that are more pleasant for humans and animals. This is achieved by means of an active noise source that emits a masking noise in at least one spatial direction in a frequency band around the individual sound frequency.

“This control device is not yet available,” says Keltsch. “Our turbines are quiet enough for the existing wind farm sites.” Senvion's engineers frequently develop their inventions preventatively, looking to the future. However, since the requirements regarding generating volume are in-creasing, the turbines themselves will also increase in size , and Keltsch believes that it is perfectly possible that the invention will come into use. If a customer wants a noise reduction measure, for a new construction or a retrofit, prototypes of the control device would then be in-stalled and tested in an existing wind farm, Keltsch states. “We would probably have to perform two to three correction cycles before the invention is implemented perfectly,” says Keltsch. Then Senvion would talk to the suppliers, clarify the supply chain, order the necessary individual parts, and finally manufacture the product in a small production run. The invention could then be tested in practice, and be ready for operation within four to twelve weeks.

Courtesy Senvion

There is a growing trend in the international wind industry: The technological evolution of wind turbines is moving towards machines with larger rotors to better capture wind at low wind sites. France is fully participating in this movement. At the Lussac-Les-Églises wind farm Senvion completed the installation of six 3.0M122 wind turbines with rotor diameters of 122 meters, as large as the diameter of the famous Ferris wheel “London Eye”.

The wind farm, developed by Quadran Groupe Direct Energie, is located in the French department of Haute Vienne. Guirec Dufour, Construction Director at Quadran states: "Lussac-Les-Églises is a low wind site and the wind turbine 3.0M122, capturing the most energy, allows us to optimize the yield of our project. However the challenge was the transportation of the blades to the site. The Blade Lifter solution, proposed by Senvion, made this project possible.”

Each blade is measured at 60 meters and weighs 15 tons. The blades were transported over a distance of 200 kilometers, from the port of La Rochelle to Poitiers, where a transshipment area was used to equip the Blade Lifter. From there the transport went on the challenging route to Lussac-Les-Églises.

Florian Dufresne, Senvion Europe South West Logistics Coordinator explains: "The only possible route for the convoy was to cross the village of Lussac-Les-Églises. However, the total length of the semi-trailer carrying the blade, is 66 meters. With such a ground length, it is impossible to turn in the many tight corners of the village. Facing this challenge, we opted for an innovative solution: The Blade Lifter. By lifting the blade to a 30 degrees angle, the ground length could be reduced to 17 meters, which allowed the safe passage of the convoy."

Technically, the Blade Lifter can lift the blade to 50 degree angles for the passage of even longer blades. The residents of the town were impressed by the technical prowess of this equipment. Guirec Dufour adds: “Thanks to a close collaboration between the Quadran and Senvion teams, the particularities related to the use of the Blade Lifter - transshipment location, moving telecommunications and power lines, pruning - were efficiently managed. This good collaboration limited the impact of the oversized transportation on the village residents and made the commissioning of the wind farm possible without any delay.”

Installing a 122-meter rotor at 89 meters height was also a challenge. The excellent coordination of the teams, a precise planning, while integrating the environment constraints and the uncertainties of the weather conditions, were essential to successfully install the six wind turbines with such a large dimension. Samson Lecluyse, Senvion Europe South-West Project Manager states: "The construction of the Lussac-Les-Eglises wind farm was an exciting project. The complexity for this wind farm lies in the environment with high wooded obstacles, which is close to the lifting zones. Due to the very large dimension of the components, the Senvion team had to prepare the ground with a maximum of rigor and precision so that the project is realized within the deadlines defined in the planning."

The Senvion team is proud to have met all the delivery and installation challenges of this project. The Lussac-Les-Églises wind farm, with a total capacity of 15 megawatts (MW) was commissioned beginning of November 2017. It will produce enough electricity to power nearly 15,000 people (including heating) in France.

Senvion is now ready to meet other challenges, including the transport of wind turbines with even longer blades: the newly announced Senvion turbine 3.7M144 EBC has blades over 70 meters long!

Courtesy Senvion

At the Ria Blades production plant, rotor blades with a length of 74 meters are now manufactured. A completely new production process was designed for this purpose. In line with the continuous improvement approach of the production processes, an efficient robot was developed in cross-functional collaboration.

One of the most photographed monuments in Portugal is located in Lisbon at the mouth of the river Tejo in the Atlantic. The "Padrão dos Descobrimentos", a 56 meter high sailing vessel made of stone and concrete, is dedicated to sailors and explorers. The monumental mosaic of a compass is adorned on the ground in front of the monument. Wind has always been a mainstay of development in the coastal state at the south-west corner of Europe. The wind, which the Portuguese explorers capitalized on more than half a thousand years ago, is now also used by Senvion.

250 kilometers north of Padrão dos Descobrimentos, in the industrial region of Aveiro, Senvion can be found in the town of Vagos. Here, Ria Blades is located on an area of 83,000 square meters where currently 1300 colleagues are employed.

Francisco Mira, Process Engineer at Ria Blades, stands in the plant's largest manufacturing facility: "To make rotor blades of this enormous size, we had to greatly expand the site and completely redesign the manufacturing process. The concept then arose with the cooperation of different departments - production, maintenance and HSE (Health, Safety & Environment). But the close collaboration with our suppliers and partners was also essential. This was a real team effort and I am proud that we have worked hand in hand to find the best solution in the end."

At the center of the manufacturing process are two semi-automated processes. On the one hand, the stacking of the fiberglass layers of some rotor blade components. So far this process has been carried out manually in a time-consuming manner, since the positioning of the different layers required the highest precision. In Portugal, RodPack technology is used which has much better material properties than conventional glass fibers and opens up new production possibilities. Thus, in the new process, each fiberglass layer is precisely set in the right place effortlessly by the equipment. Francisco Mira explains, "RodPack was the reason why we completely changed this process." The result is that there are considerably fewer shifts and working hours needed to complete the rotor blade.

The second process is now almost completely taken over by an equipment that sands the rotor blades before painting. While the rotor blades were previously sanded with a 35 kilogram sanding machine, which had to be operated by two people, 90 percent of this work is now done by robots, which are monitored by a colleague.

"Both processes, the semi-automatic fiberglass lay-up and the sanding process are thus much faster, more efficient and physically less strenuous. What is clear with Mira, however, is that "humans are responsible for decisions and will remain indispensable. A machine remains a machine.

Originally, Francisco Mira comes from the automotive industry. Since 2015 he has been with Ria Blades. "A lot of things in the organization and the way of thinking reminds me of my previous work: precision, flexibility, lean production concepts or high quality requirements. But we are trying to absorb the experience from very different branches of industry and make it usable for us. In particular, it is decisive for us to have the ability to think 'out of the box'. This is the only way to revolutionize the manufacturing process."

Courtesy Senvion

AMSTERDAM, November 28, 2017 -- The World Bank and the Technical University of Denmark (DTU) today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world. 

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.

The new tool is based on the latest modeling technologies, which combine wind climate data with high-resolution terrain information—factors that can influence the wind, such as hills or valleys—and provides wind climate data at a 1km scale. This yields more reliable information on wind potential. The tool also provides access to high-resolution global and regional maps and geographic information system (GIS) data, enabling users to print poster maps and utilize the data in other applications.

The Global Wind Atlas was unveiled at an event at the Wind Europe Conference in Amsterdam, following the successful launch of the Global Solar Atlas earlier in the year.

Solar and wind are proving to be the cleanest, least-cost options for power generation in many countries. These tools will help governments assess their resource potential and understand how solar and wind can fit into their energy mix. An example of how good data can help boost renewable energy is Vietnam where solar maps from the Global Solar Atlas laid the groundwork for the installation of five solar measurement stations across the country.

“There is great scope in many countries for the clean, low-cost power that wind provides, but they have been hampered by a lack of good data,” said Riccardo Puliti, Senior Director and Head of the World Bank’s Energy & Extractives Global Practice. “By providing high quality resource data at such a detailed level for free, we hope to mobilize more private investment for accelerating the scale-up of technologies like wind to meet urgent energy needs.”

The work was funded by the Energy Sector Management Assistance Program(ESMAP), a multi-donor trust fund administered by the World Bank, in close partnership with DTU Wind Energy.

“The partnership between DTU Wind Energy and the World Bank allows us to reach a broader audience, especially in developing countries while remaining at the forefront of wind energy research. We are excited by the scientific advances that the new Global Wind Atlas incorporates, and look forward to seeing how this data can enable countries to advance wind projects,” said Peter Hauge Madsen, Head of DTU Wind Energy.

While the data powering the Global Wind Atlas is the most recent and most accurate currently available, it is not fully validated in many developing countries due to the lack of ground-based measurement data from high precision meteorology masts and LiDARs. ESMAP has funded a series of World Bank projects over the last four years to help fill this gap, with wind measurement campaigns under implementation in Bangladesh, Ethiopia, Nepal, Malawi, Maldives, Pakistan, Papua New Guinea, and Zambia. All measurement data is published via https://energydata.info, a World Bank Group data sharing platform.

Courtesy The World Bank


On May 16, 2017, the state of California set a new record—that day, it generated 42% of its electricity from wind and solar, and peaked at 72% that afternoon. In addition to this wind power record, wind farms by themselves accounted for 18% of the state’s needs. But renewable energy’s popularity doesn’t just extend to California. According to the Global Wind Energy Council, the total generating capacity of wind farms around the world is now greater than all of the world’s nuclear power plants combined.

So what’s driving this growth? One answer is innovation. The “levelized cost of electricity” (LCOE)—a key number that measures electricity’s costs—has fallen 58% over the past six years. Additionally, the use of  wind turbine management software—like GE’s Predix—has let operators run their wind farms more efficiently, lowering maintenance costs and saving money. In fact, GE estimates that by deploying its Digital Wind Farm solutions and wind turbine software, the wind industry could save as much as $10 billion a year. One thing’s for sure: with 30,000 GE wind turbines deployed across the globe and capable of generating more than 57 GW of electricity, wind energy isn’t going anywhere.

Learn more about GE’s wind power software and Digital Wind Farms by contacting us today.

Read the full story at https://www.ge.com/reports/wind-blows-innovation-dropping-costs-drive-renewables-growth/

Courtesy GE Renewable Energy

ENERCON is developing two new types of converter for its 3 megawatt platform (EP3). E-126 EP3 and E-138 EP3 are designed for sites with moderate and low winds respectively, and are scheduled to go into production in late 2018 and late 2019. As well as promising much improved performance and efficiency, the two new converters will benefit from optimised processes for production, transport and logistics, and installation. ENERCON will be introducing the two converter types for the first time at the Brazil Windpower event in Rio de Janeiro (29 to 31 August).

The machines are ENERCON’s response to new challenges facing converter technology in the important 3 MW segment. “We are increasing overall performance significantly”, says Arno Hildebrand, Director of System Engineering at ENERCON’s research and development arm, WRD. The greater efficiency will come mainly from an increase in swept area and in nominal power. The E-126 EP3 will have a rotor diameter of 127 metres and a nominal power of 3.5 MW, and is being designed for sites with moderate wind conditions in Class IIA (IEC). The E-138 EP3 will also have a nominal power of 3.5 MW, but with a rotor diameter of 138 metres it is intended for use at low-wind sites in Class IIIA (IEC).

“At sites with moderate wind speeds of 8.0 m/s at hub height, the yield of the new E-126 EP3 will therefore be more than 13 percent higher than that of our existing E-115 model”, says Hildebrand. Annual energy yields of more than 14.5 million kilowatt hours (kWh) are forecast for a typical Wind Class IIA site with speeds of 8.0 m/s at a hub height of 135 metres. As for the E-138 EP3 – a completely new type of converter, and the first low-wind turbine to feature in ENERCON’s EP3 portfolio – the developers calculate that, at a typical low-wind site with average speeds of 7.0 m/s at a hub height of 131 metres, annual energy yields in excess of 13.2 million kWh can be achieved.

Not only that, but the two converter types will be consistently streamlined for efficiency. Every single process – from production to transport and logistics, installation and commissioning – will be optimised. The E-126 EP3 and E-138 EP3 will be available with a choice of hybrid or tubular steel towers with hub heights of between 81 and 160 metres. Installation of the E-126 EP3 prototype is scheduled for as early as the third quarter of 2018; it will enter series production later that year. ENERCON plans to erect the E-138 EP3 prototype in the fourth quarter of 2018, then introduce a few pre-series machines in 2019 before full production begins towards the end of 2019.

Courtesy ENERCON

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In Conversation with, Mr. Narayan Kumar, Development Director, Acciona Wind Power India


1.What is current installed capacity of your company and how has been your journey so far?

ACCIONA is one of the foremost Spanish business corporations with a global footprint. We are leaders in development and management of infrastructure, renewable energy, water and services.

ACCIONA's has been in India for close to a decade, with primary presence in renewable energy. ACCIONA was the first Spanish company to install and operate a wind farm in India. We have operating wind farms with a capacity of around 175 MW.

2.What is your current order book position and what are the projects that you are currently bidding for?

Acciona India is an Independent Power Producer. Unlike Original Equipment Manufacturers (OEMs), we don’t maintain an order book. We are focused on development of both solar and wind energy investments in India.  Currently we are evaluating opportunities at both the national level as well as in different states to participate in auctions for both PV and wind space.

3.What is the impact of Reverse bidding on the wind energy sector?

Wind energy sector in India is at cross roads because of introduction of reverse bidding since February 2017. It would have been ideal if the industry had been provided with a 12-15 month period for transition from feed-in-tariffs to competitive based reverse bidding. Now that the reverse bidding has been introduced, this has created a sense of uncertainty in the industry and is bound to affect capacity addition for 15-18 months. We need to evaluate the sustainability of tariffs of around INR 3.40 – Rs 3.50 / kWh.

It’s interesting to see how future bids will play out since we are reading reports about one of the winning bidders from the Feb 2017 auction already backing out from its commitments. We have also witnessed the same trend in the PV space as well. There is perhaps the need for the industry to think through their bid strategy and evaluate pricing on rational, sustainable, long-term basis.

4.What are your growth plans for the next couple of years?

Acciona India has aggressive plans to increase our footprint in both wind and PV. It would be difficult to share specific numbers at this time. We are evaluating several greenfield as well as brownfield growth opportunities. We are long-term investors and are guided by the sustainability of returns. 

5.Would you like to add anything else about wind sector?

When India’s first ever auction of wind projects worth 1 GW capacity early this year threw up record low tariffs, none of realised that it would become a flashpoint for the resentment of power distribution companies (discoms) against generators in the days ahead. But that is exactly what we are seeing today.

Discoms have stopped signing power purchase agreements (PPAs) with wind power generators, leaving a big question mark hanging over the future of 3 GW of assets underconstruction. If the logjam is not broken soon, the government’s renewable power capacity addition could get off track, compromising effortsto rein in emissions and fight climate change.

Discoms believe that they were paying very high tariffs to IPPs and are reneging on their signed commitments. Discoms’ refusal to sign PPAs has forced the Centre to intervene and asked for signed commitments to be honoured. Such blatant change of tack has serious repercussions on the country’s renewable energy programme as well as India’s perception with global investors. The Ministry of New and Renewable Energy (MNRE) has already cautioned discoms that if PPAs are not signed, there would be no further wind capacity addition either in 2017-18or 2018-19.

Even if wind auctionsrestart at this stage as is widely envisaged, the projects would be commissioned only over the next 15 to 18 months.In such a case there would be no wind capacity addition in 2017-18 and a major part of 2018-19. This would mean that most atates would not be able to meet their non-solar RPO obligations.

This would also throw a spanner in the plans of OEMs who have made large investments in capacity as well as inventory. They will go through a difficult phase on this account, though this is expected to be temporary.

Re-Powering – A growthopportunity

Repowering is something which needs to be absolutely encouraged. Vintage turbines occupy some of the best wind sites across India. Policies or guidelines may require changes as we have not made a big headway into repowering.

Again it’s perhaps premature to comment as there are issues like existing substation capacity, current PPAs, disposal of old turbines and current owners of land who are reluctant to give up their land etc.

Power being a concurrent subject; it’s possible to have a state repowering policy. The bottom line is, repowering can bring in about a capacity addition on an estimate of 1 GW every year for the next 2-3 years. This can possibly increase if grid connectivity and substation capacity can be augmented.

The World Bank and the Technical University of Denmark today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world.

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.