4 June 2025 | 4:10PM EDT GS SUSTAIN: AI/Data Center Power Surge & Reliability How higher costs and US policy shifts impact the Green Reliability Premium Brian Singer, CFA +1(212)902-8259 | brian.singer@gs.com Goldman Sachs & Co. LLC Brendan Corbett +1(415)249-7440 | brendan.corbett@gs.com Goldman Sachs & Co. LLC Carly Davenport +1(212)357-1914 | carly.davenport@gs.com Goldman Sachs & Co. LLC Brian Lee, CFA +1(917)343-3110 | brian.k.lee@gs.com Goldman Sachs & Co. LLC Strong demand and government actions are ...

Core Viewpoint - The Kelmė wind farm II has commenced commercial operations, contributing to the largest wind farm in the Baltics, with significant investments and capacity to meet the electricity needs of Lithuanian households [1][2]. Group Summary - Kelmė wind farm II, along with Kelmė wind farm I, forms the largest wind farm in the Baltics, with a total installed capacity of 313.7 MW, capable of supplying electricity to 250,000 households [2]. - The total investment for the Kelmė wind farm, including both wind farms, is approximately EUR 550 million [2]. - Kelmė wind farm II consists of 28 Nordex N163/6.X wind turbines, with a total installed capacity of 199.6 MW, and the investment for this specific wind farm is around EUR 360 million [3]. - Following the commercial operation date of Kelmė wind farm II, the Group's installed Green Capacities have increased to 1.7 GW, up from 1.5 GW [3]. - The Group aims to expand its Green Capacities from 1.4 GW in 2024 to a target range of 4–5 GW by 2030 [4].

Core Insights - Vallourec has achieved the official qualification of its Delphy hydrogen storage solution, marking a world first in the industry [1][3] - The Delphy system can store between 1 to 100 tons of hydrogen safely and is designed for complex industrial environments [1][2] - The qualification by DNV ensures the safety and reliability of the Delphy solution, paving the way for its commercialization [3][6] Company Developments - The Delphy project has involved around thirty researchers and experts, focusing on high-precision threading, heat treatment, and non-destructive testing [3] - Vallourec has signed two Memorandums of Understanding (MoUs) for green hydrogen projects, indicating strong market interest and potential revenue of approximately €2 billion from around fifty projects under discussion [4] - The company aims to leverage its industrial and technological expertise to support the global hydrogen sector and decarbonization efforts [6] Industry Context - There is an increasing demand for hydrogen storage infrastructure due to the intermittent nature of green hydrogen production, driven by European regulations and the French hydrogen strategy [5] - DNV's Energy Transition Outlook projects a need for 188 million tons of hydrogen annually by 2050, highlighting the critical role of flexible storage solutions like Delphy [6]

心系"国之大者"，湖江共治绣新卷 眼下，正处于太湖安全度夏的关键时期，湖西区一派繁忙景象。控藻船、运输船频繁往来，见藻就 捞；新建的藻水分离站"大展身手"，离心机高速旋转；空中，无人机沿湖岸线巡飞，实时分析藻情…… 为全力迎战蓝藻高峰季，一场治太立体战已经吹响号角。 太湖治理是习近平总书记念兹在兹、反复强调的"国之大者"。江苏纵深推进新一轮太湖综合治理， 久久为功，推动这一"标志性工程"取得"标志性成果"。1月12日，省生态环境厅传来好消息：2024年， 太湖水质总体达到Ⅲ类，实现全年达良好湖泊标准。太湖水生生物多样性指数提高到"优秀"等级，流域 物种数增加到6899种。 初夏，草木葳蕤，鹭鸟翩跹，江苏大地生机盎然，"推窗见绿、开门见景"已成生活日常，生态环境 持续向好。 2024年，大气环境质量改善幅度长三角最好，是唯一"双改善"省份；水环境质量连续3年达到优 级，再创新高，国考断面优Ⅲ比例同比改善0.9个百分点；长江干流江苏段水质继续稳定在Ⅱ类，太湖 平均水质达Ⅲ类，达到良好湖泊水平，实现历史性突破……锚定目标、攻坚克难，江苏生态环境保护工 作取得新进展、新成效。 2025年是"十四五"规划收官之年，也是 ...

ATLANTA and NEW YORK, June 4, 2025 /PRNewswire/ -- SouthStar Energy Services, one of the nation's leading natural gas marketing companies, today announced that it has become the first retail energy marketer in the U.S. and one of the first companies in the energy industry to pilot a new methane and greenhouse gas emissions tracking tool called MiQ's MethaneScout™.Developed by a global leader in methane emissions certification, MiQ, the platform can help SouthStar assess the emissions of its delivered natura ...

VANCOUVER, British Columbia, June 04, 2025 (GLOBE NEWSWIRE) -- SAGA Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discovery, is pleased to announce the appointment of Paul McGuigan, P. Geo., as its Qualified Person on the exploration and development of the Radar Ti-V-Fe Property (the “Project”) in Labrador. Mr. McGuigan will advise on standards of practice for QAQC, structural mapping, drilling and deposit mode ...

CHURCH & DWIGHT CO., INC. CHURCH & DWIGHT CO., INC. dbAccess Global Consumer Conference 2025 SAFE HARBOR STATEMENT 2 CHURCH & DWIGHT CO., INC. We Remain Confident in our Future Despite a Volatile Environment This presentation contains forward-looking statements, including, among others, statements relating to net sales and earnings growth, the impact of the Touchland acquisition; the intended benefits of the exploration of strategic alternatives; gross margin changes; trade and marketing spending; marketing ...

Core Viewpoint - The Williams Companies, Inc. (WMB) is actively working to revive two previously canceled natural gas pipeline projects, the Northeast Supply Enhancement (NESE) and the Constitution Pipeline, due to changing regulatory support and environmental discussions [1][4]. Regulatory Landscape - WMB is collaborating with federal and state regulatory agencies to reinstate the NESE and Constitution Pipeline projects, which were canceled after prolonged permit battles [2][4]. - The company has reached out to the Federal Energy Regulatory Commission to reinstate the necessary certificate for the NESE project, which is essential for interstate pipeline construction and operation [3]. Environmental Considerations - WMB is in discussions with environmental regulators in New Jersey, Pennsylvania, and New York to secure the necessary permits for the pipeline projects, emphasizing that these projects are crucial for addressing natural gas supply issues in the Northeast [4]. - The company argues that the supply constraints lead to higher energy costs for consumers and increased demand for higher-emission fuels [4]. Political Context - The decision to revive these projects aligns with the Trump administration's recent support for natural gas initiatives, including the withdrawal of a stop-work order on Equinor's Empire Wind project [5]. - New York Governor Kathy Hochul has indicated a willingness to cooperate on new energy projects that comply with state laws, although she has not explicitly endorsed new pipelines [5]. Company Rankings and Comparisons - WMB currently holds a Zacks Rank of 3 (Hold), while other energy sector stocks like Flotek Industries (Rank 1), Energy Transfer (Rank 2), and RPC, Inc. (Rank 2) are noted for their stronger performance [6].

When I last wrote about cruise operator Carnival Corporation & plc (NYSE: CCL ) in March, the case for a Buy rating on the stock was clear despite its dismal recent performance on the stock markets. With ongoing uncertainties for the globalManika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing ...

Financial Data and Key Metrics Changes - Total asset footprint increased to $958 billion, representing a 4% year-over-year growth [4] - Assets Under Management (AUM) grew to $138 billion, an increase of $14 billion or 11% compared to the prior year [5] - Total management and advisory fees reached $514 million, growing 14% year-over-year [6] - Fee-related earnings were $276 million, a 34% increase from the previous year, translating into GAAP EPS of $5.41 and non-GAAP EPS of $5.40 [6] Business Line Data and Key Metrics Changes - Fee-earning AUM stood at $72 billion, growing $6 billion or 10% year-over-year [14] - Specialized fund fee-earning AUM increased to $33 billion, representing a 16% growth [16] - Revenue from customized separate accounts increased by $6 million or 4% due to new accounts and re-ups [38] Market Data and Key Metrics Changes - Overall exit activity remains muted, but deal activity in various sectors showed recovery in 2024 compared to 2023 [12] - Contributions and distributions from Limited Partners (LPs) remained below historical averages, although distribution activity saw a slight pickup in 2024 [12] Company Strategy and Development Direction - The company is focusing on long-term results for clients, capitalizing on market volatility to find opportunities [13] - Continued growth in specialized funds, particularly semi-liquid evergreen funds, is a key strategy [14] - The company is actively expanding its product lines and enhancing its technology solutions [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market volatility and uncertainty, indicating a stable margin outlook despite reporting changes [46][47] - The current market environment is seen as different from past crises, driven by political factors rather than economic shocks [79] Other Important Information - The Board approved a 10% increase in the annual fiscal dividend to $2.16 per share, marking the eighth consecutive annual double-digit percentage increase since 2017 [6] - The company is investing in technology solutions to enhance operational efficiency and scalability [28] Q&A Session Summary Question: Margin outlook under new reporting regime - Management expects margins to remain stable despite changes in reporting [46][47] Question: Changes in distribution fees for new products - Distribution fees remain predominantly upfront, with no significant changes noted [49][50] Question: Future management fees within separate accounts - The separate account business is impacted by macro market conditions, but there is optimism for future growth as markets normalize [59][61] Question: May gross inflows and outflows - May showed strong inflows, with no significant changes in redemption patterns [65][66] Question: Institutional interest in evergreen funds - The trend towards evergreen funds is still in its early stages, with institutions beginning to recognize their benefits [70][72] Question: Capitalizing on market volatility - The company is focusing on deal flow, talent acquisition, and technology investments to capitalize on current market conditions [76][78]