Coal losses prompt Spain’s Endesa to speed renewable energy investments

first_imgCoal losses prompt Spain’s Endesa to speed renewable energy investments FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Endesa SA is going all out on wind and solar power to replace money-losing coal plants in Spain and Portugal, executives said, after write-offs on the legacy assets dragged down the utility’s net income by 80% in 2019.Endesa, one of Spain’s largest utilities, is planning to close most of its remaining coal plants by 2021 in light of deteriorating market conditions for the fossil fuel, resulting from low gas and high carbon prices. To make up for the lost capacity, CFO Luca Passa said the company will aim to ramp up its spending on renewables.“The plan is to accelerate as much as we can,” Passa told analysts on a Feb. 25 earnings call, noting that Endesa already plans to increase its capital expenditure from €1.9 billion in 2019 to €2.2 billion in 2022. “If we have the opportunity to spend more capex, even in 2020, we will do so,” Passa said.Endesa, which is owned by Italian renewables giant Enel SpA, recorded impairments of €1.47 billion on coal-fired units in Spain and Portugal, which helped drag down its net income by €1.41 billion to only €171 million for the full year.Endesa already spent 40% of its investment in 2019 on new renewables and said last fall that it expects to spend a total of €3.8 billion on green power between 2019 and 2022. CEO José Bogas previously announced that the utility will replace its 1.1-GW coal plant in Teruel with 1.7 GW of renewables.As it stands, the company said it has 5.4 GW of new solar and wind capacity ready to come online, the bulk of it between now and 2022. Prodiel, a Spanish solar developer, sold 10 projects worth a combined 1 GW to Endesa in December 2019 and Passa said that around 100 MW of capacity from the deal could already come online this year.[Yannic Rack]More ($): Endesa doubles down on renewables to replace money-losing coal plants in Spainlast_img read more

Monday March 25th Local Sports

first_imgCOLUMBUS, OHIO — A slow start in overtime foiled Iowa’s upset bid against Tennessee. Tennessee scored the first seven points in the extra session in an 83-77 win. The Hawkeyes roared back from a 25 point first half deficit but could never take the lead. Iowa coach Fran McCaffery.McCaffery says the rally started with getting stops on defense.Sophomore center Luka Garza says there was no panic at halftime despite a 21-point deficit.Tennessee coach Rick Barnes.Jordan Bohannon led Iowa with 18 points as the Hawkeyes end the season with a record of 23-12. PITTSBURGH — University of Iowa sophomore Spencer Lee defeated Virginia’s Jack Mueller, 5-0, on Saturday night to win the 125-pound title at the 2019 NCAA Wrestling Championships.Lee, the No. 3 seed at 125, scored takedowns in the first and third periods, and forced a pair of stalling calls on Mueller to win the title for the second straight year.Lee outscored his opponents 55-7 in five matches. He won twice by decision and added one major decision, one technical fall, and one pin. He defeated an undefeated opponent in the finals for the second straight year.The Hawkeyes placed fourth at the NCAA Championships with 76 points. Iowa crowned six All-Americans, including Lee, sophomore Austin DeSanto, junior Pat Lugo, sophomore Kaleb Young, sophomore Alex Marinelli, and redshirt freshman Jacob Warner. === Drew Foster became UNI wrestling’s first Division I National Wrestling champion in nearly two decades, defeating No. 6 Max Dean of Cornell, 6-4.  UNI’s last champion was Tony Davis, who won in 2000 at 149 pounds. Until this year, UNI hadn’t had a finalist since 2005. Foster became UNI’s 25th two-time All-American. He earned his first All-America honors when he took seventh at 184 pounds in 2017. Bryce Steiert finished eighth at 165 pounds to become UNI’s 125th All-American. AMES — Missouri State plays host Iowa State in the second round of the NCAA women’s tournament. The Lady Bears advanced with an 89-78 win over DePaul on Saturday night. Missouri State coach Kellie Harper.A team that opened 1-7 is now a win away from a trip to the Sweet 16.Iowa State advanced to tonight’s second-round game with a 97-61 win on Saturday night over New Mexico State. Bridget Carleton led four Cyclone players with 23 points, while Alexa Middleton had 15 points, nine assists and five rebounds. Tipoff tonight at Hilton Coliseum is scheduled for 8 o’clock. === Iowa State scored 32 points and finished 16th as a team. Jarrett Degen was an All American at 149 pounds, finishing 7th. Willie Miklus became a four-time All-American in Pittsburgh and took 6th at 197 pounds. ALEXANDRIA, MINNESOTA — The North Iowa Bulls have captured another division tournament title and advanced to the Fraser Cup national tournament, sweeping Alexandria 2-0 in their best-of-three Central Division series. On Friday night in Mason City, Brendan Studioso, Cam Fagerlee and Matt Dahlseide each scored goals while Dysen Skinner made 31 saves in a 3-1 win. On Saturday, the Bulls scored twice in the first and second periods on their way to a 5-1 victory. Studioso and Nick Johnson each had a goal and an assist. The Bulls open up Fraser Cup action on Thursday facing the Lewiston Auburn Nordiques of Maine in Pool A round-robin play. They’ll face Helena on Friday. If they finish in the top two in their pool they’ll advance to the championship round on Saturday. IOWA CITY — Home court was truly an advantage as the Iowa Hawkeye women advanced to the Sweet 16. Iowa outscored Missouri 21-11 in the fourth quarter in a 68-52 victory Sunday.Iowa coach Lisa Bluder. The Hawkeyes head to Greensboro, North Carolina for the regional semifinals.Megan Gustafson had 24 points and 19 rebounds as the Hawkeyes finish unbeaten at home.Mason City native Makenzie Meyer played all 40 minutes, scoring 18 points and handing out four assists. Iowa will face the winner of today’s second-round game between Kentucky and North Carolina State on Saturday in Greensborolast_img read more