FRAMINGHAM, Mass. & KINGMAN, Ariz.--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced the development and commercial operation of a 50MW/200 MWh battery energy storage system (BESS), the largest behind-the-meter (BTM) project in Arizona. Achieving commercial operation in October 2025, this milestone marks a significant advancement in the state's energy infrastructure. The BESS was dev. ...

Core Points - Duke Energy Foundation announced a new grant opportunity of $500,000 to support small businesses in North Carolina [1] - Nonprofit organizations can apply for grants of up to $25,000, which will fund awards of up to $5,000 for individual small businesses [2][9] - The funding can be utilized by local businesses for renovations, equipment purchases, inventory, and other business needs [2] - In 2024, twenty organizations in North Carolina received funding for small business support, with Duke Energy Foundation committing over $2.4 million since 2020 [3] - Small businesses employ nearly half of North Carolina's workforce, highlighting their importance to the economy [4] - Applications for the grants are open until October 31, 2025 [4][9] Company Overview - Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C., serving 8.6 million customers across several states [6] - The company owns 55,100 megawatts of energy capacity and serves 1.7 million natural gas customers [6] - Duke Energy is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner energy generation [7] - The Duke Energy Foundation provides over $30 million annually in philanthropic support to meet community needs [5]

Group 1: Copper Demand Trends - Global copper demand has increased at a compound annual growth rate (CAGR) of 2.7% over the past two decades, rising from 16.7 million tonnes in 2004 to 28.5 million tonnes in 2024 [2] - Future projections indicate that global copper demand is expected to grow at a CAGR of 3.8%, reaching 35.1 million tonnes by 2030, driven by urbanization, infrastructure expansion, industrialization, and the energy transition [2] - The demand for copper is significantly influenced by its role in renewable energy infrastructure and the electrification of various sectors, including electric vehicles and data centers [1] Group 2: Supply Chain Disruptions - Recent supply chain disruptions have highlighted vulnerabilities, including an accident at Freeport-McMoRan's Grasberg mine, which produced 815,000 tonnes in 2024, accounting for 4% of global production [3] - Other notable disruptions include production cuts at Teck's Quebrada Blanca facility in Chile and flooding at Ivanhoe Mines' Kamoa-Kakula mine in the DRC, leading to a 25% production reduction at Codelco's El Teniente mine due to an earthquake [3][4] - The UN has warned that copper shortages could impede the energy transition, estimating that $250 billion in investment and at least 80 new mining projects are necessary to meet future demand [4] Group 3: Production Gains - Some regions, including Zambia, Chile, Mongolia, the DRC, and Peru, have reported production gains, with specific assets like Mopani, Oyu Tolgoi, and Las Bambas showing increases [4] - Despite these gains, the overall outlook remains cautious due to the potential impact of supply chain disruptions and the need for significant investment to meet rising demand [4]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Copper and Aluminium - **Key Focus**: Supply and demand dynamics, price forecasts, and investment opportunities in the copper sector Core Insights and Arguments 1. **Copper Price Forecasts**: The company has raised its copper price forecasts for 2026-2028 by approximately 15%, targeting $6.0/lb (~$13,250/t) in 2027 due to expected fundamental tightness in the market [1][50] 2. **Mine Supply Disruptions**: Significant disruptions at major mines in 2025 have led to downgrades in mine supply projections for 2026/27, constraining growth from new projects [2][17] 3. **Refined Copper Supply**: Despite robust smelter output keeping the refined copper market in surplus, the company anticipates a tightening in refined supply due to mine production cuts, forecasting less than 1% growth in 2026 [3][21] 4. **Demand Growth**: The company forecasts a conservative growth of ~3% in refined copper demand for 2026/27, with potential upside from economic recovery in developed markets [4][26] 5. **Market Deficit**: A projected deficit in the refined copper market in 2026 is expected to result in inventory drawdowns, supporting sustainable price increases [5][30] 6. **Equity Recommendations**: The company has identified FCX and AAL-TECK as top picks in copper equities, upgrading KGHM and Aurubis from Sell to Neutral based on operational leverage and supportive guidance [6][50] Additional Important Insights 1. **Historical Supply Challenges**: The copper industry has faced ongoing challenges in finding and developing new mines, with a notable decline in new project approvals and capital expenditures [9][50] 2. **Global Mine Supply Growth**: The forecast for global mine supply growth in 2026 has been reduced to ~1%, with expectations of modest growth of ~3% in 2027 after two years of less than 1% growth [2][18] 3. **Refined Production Trends**: Over the past 2-3 years, refined copper supply growth has outpaced mine supply growth, but this trend is expected to reverse due to production cuts [3][21] 4. **Tariff Impact on Demand**: Despite macroeconomic uncertainties related to tariffs, copper demand in China has remained resilient, particularly from the grid and energy storage sectors [22][25] 5. **Investment Positioning**: Following the Grasberg disruption, net speculative length on the LME has increased by ~50%, indicating bullish positioning in the market [40][44] This summary encapsulates the critical points discussed in the conference call, highlighting the current state and future outlook of the copper industry, along with strategic investment recommendations.

Key Takeaways Shell is investing $2B in Nigeria's HI gas project to supply 350MMscf/d to Nigeria LNG.The project supports NLNG's Train 7 expansion and aligns with Shell's 4-5% annual LNG growth goal.SHEL's move follows its Bonga North project, reinforcing its long-term energy commitment to Nigeria.Shell plc (SHEL) has reinforced its commitment to Nigeria’s energy landscape with a $2 billion investment in the HI gas project offshore Nigeria. The project — a collaboration between Shell Nigeria Exploration and ...

Core Viewpoint - The North Sea serves as a contrasting case study for energy transition policies, with Norway promoting exploration and investment while the UK is deterring investors through regulatory uncertainty [1][2]. Group 1: Norway's Approach - Norway is committed to net zero while simultaneously supporting oil and gas exploration, providing long-term regulatory certainty, and benefiting from substantial oil and gas revenues [1][2]. - The Norwegian government is planning its 26th oil and gas licensing round in less-explored areas to counteract an anticipated decline in production starting in the early 2030s [5]. - Companies in Norway can receive refunds of 71.8% on losses related to exploration, which, combined with a stable tax regime since the 1990s, offers long-term certainty for operators [5]. Group 2: UK's Approach - The UK, while also aiming for net zero, has seen a significant shift in its approach, with frequent changes in the tax regime since 2022, leading to unpredictability for investors [6][7]. - The introduction of the Energy Profits Levy (EPL) by the Conservative government in 2022 has resulted in calls from oil and gas companies for a more stable regulatory and tax framework [7]. - The current Labour government's rising taxes and policy changes have further discouraged investment in the UK North Sea, increasing the risk of dependency on oil and gas imports [7].

EIB Global, the development arm of the European Investment Bank (EIA), has committed an investment of up to $60m to the India Energy Transition Fund managed by EAAA Alternatives. This fund focuses on renewable energy, energy efficiency, and electric vehicles to support India's decarbonisation goals. The announcement was made in New Delhi by EIB vice-president Nicola Beer alongside EAAA Alternatives CEO Subahoo Chordia. This initiative is claimed to mark India's first energy transition fund managed by a ...

Core Insights - Falcon Oil & Gas Ltd has successfully completed its largest drilling program in the Beetaloo Sub-basin, consisting of three wells in the 2025 campaign [2][3] - The campaign has resulted in a total of 12,000 metres (40,000 feet) of horizontal cased sections that will undergo fracture stimulation in the coming months [3][7] - Gas sales to the Northern Territory government are expected to commence in the second half of 2026 [3][7] Company Overview - Falcon Oil & Gas Ltd is an international oil and gas company focused on the exploration and development of unconventional oil and gas assets, primarily in Australia [8] - Falcon Oil & Gas Australia Limited is a subsidiary of Falcon Oil & Gas Ltd, holding approximately 98% ownership [8] Drilling Campaign Details - The three wells drilled in the 2025 batch campaign (Shenandoah South SS2-1H, SS2-3H, and SS2-5H) each feature a horizontal section of 3,000 metres (10,000 feet) [7] - The average time to reach target depth was 26.7 days, with drilling and casing completed within the forecasted 35 days [7] - Modifications to the mud system and the use of anti-vibration drilling bits improved drilling efficiency, achieving approximately 1,000 metres drilled in a day for the SS2-1H well [7] Future Plans - A stimulation plan for up to 60 stages across the SS2-5H well is scheduled for Q4 2025, with flow testing expected to last 30 days before the well is shut-in [7] - In H1 2026, three wells, including the second well from the 2024 drilling campaign, are anticipated to be stimulated ahead of gas sales [7] - All wells in the Shenandoah South Pilot Project are projected to deliver the contracted volume of 40 million cubic feet per day (MMcf/d) under the Gas Sales Agreement with the Northern Territory Government [7]

Core Insights - California is experiencing significant refinery closures, with the Phillips 66 refinery in Los Angeles set to close by the end of 2025, and Valero planning to idle its Bay Area refinery by April 2024, collectively accounting for approximately 18% of the state's refining capacity [5][6][7] Group 1: Job Losses and Economic Impact - Thousands of workers, potentially tens of thousands, are at risk of losing their jobs as California reduces its reliance on fossil fuels, with an estimated loss of nearly 58,000 workers in the oil and gas industries between 2021 and 2030 [3][9] - The fossil fuel industry employs around 94,000 people in California, and the closure of refineries will have a significant economic impact on local communities, such as Benicia, where Valero contributes about $7.7 million annually in taxes [8][9] Group 2: Legislative and Regulatory Actions - California's energy regulators are negotiating to keep the Valero plant operational and have recently backed off a proposal to penalize oil companies for high profits, indicating a shift in approach to support the industry [4] - Governor Gavin Newsom signed legislation to expedite oil well permitting in the Central Valley, reflecting inconsistent messaging regarding the state's climate policies and their impact on the oil industry [4][7] Group 3: Support for Displaced Workers - The state has established the Displaced Oil and Gas Worker Fund to provide career training and job opportunities, awarding nearly $30 million to various groups, although funding is set to expire in 2027 [11][12] - Governor Newsom has allocated $20 million in the 2022-2023 budget for a pilot program to train displaced workers to plug abandoned oil wells, emphasizing the need for a clear transition plan for affected workers [12][13] Group 4: Industry Perspectives - Industry representatives argue that California's climate policies threaten blue-collar jobs, with calls for a reassessment of these policies to protect employment in the sector [14] - Workers in the oil industry often earn a living wage without a college degree, but there are concerns about job security and the lack of a clear transition plan to new fields [15][16]

Core Insights - The transition from fossil fuels to alternative energy sources is expected to create additional demand for silver, particularly in regions utilizing solar power [1] Industry Summary - The shift towards alternative energy is likely to enhance silver's market position, driven by increased demand in solar energy applications [1]