• 1 hour Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 3 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 7 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 7 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
Alt Text

Tesla Execs Bail As Cash Flow Hits Record Lows

Amid a rough second quarter…

Alt Text

Chinese EV Boom Could Crash Oil Prices

Most oil majors acknowledge that…

Alt Text

Can India Overtake China In The EV Revolution?

India wants to drastically increase…

Environmental Finance

Environmental Finance

Environmental Finance is still the only independent global magazine offering comprehensive coverage of the financial impact of environmental issues on the business community.  Leading industry…

More Info

Exelon to Invest $5 Billion in Clean Energy

Exelon to Invest $5 Billion in Clean Energy

US utility Exelon is to invest nearly $5 billion in low-carbon energy projects starting this year, as part of plans to cut carbon dioxide emissions by more than 15 million tonnes a year by 2020.

The Chicago-based company will spend close to $5 billion on energy-efficiency and smart grid programmes, renewable energy projects and increasing output at Exelon’s nuclear plants. Most of the investments will be made in Pennsylvania and Illinois, where the majority of its customers are based.

The firm said it is already half way to reaching its 2020 goal, having reduced, offset or displaced almost 8 million tonnes of carbon dioxide equivalent.

Its plans are part of a broader strategy, dubbed Exelon 2020, which is expected to result in new equipment orders, engineering and construction contracts, and professional and technical service agreements. These investments also aim to support thousands of jobs, both at Exelon and its more than 5,000 suppliers.

Chairman and CEO of Exelon, John Rowe, said: “We are committed to a clean and secure energy supply at the lowest cost to the communities and customers we serve and the markets in which we operate.”

“The question facing the United States is not whether it should reduce air pollution and carbon emissions, but how to do so affordably, especially in light of current economic conditions. The pending suite of [Environmental Protection Agency] regulations will help drive the transition to a cleaner energy future.”

Some of the key initiatives under the Exelon 2020 programme include shutting down four carbon-intensive power generation units that run on coal, gas and oil. Combined, the units account for 933MW of generating capacity.

Exelon will also increase output from its nuclear fleet which has grown by 100MW to more than 17GW since 2008, but planned expansions through 2017 could add up to 1,500MW of capacity.

By. Tatei Montejo

Source: Environmental Finance




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News