Core Viewpoint - Ørsted has agreed to sell a 50% equity stake in its Hornsea 3 offshore wind farm to Apollo Global Management for approximately DKr39bn ($6.5bn), which aligns with Ørsted's capital management strategy and supports its partnership and divestment program [1][2][3]. Group 1: Transaction Details - The deal involves an initial payment of DKr20bn, which includes DKr10bn for the share purchase and DKr10bn for construction costs, with the transaction expected to close before the end of 2025, pending regulatory approvals [2][5]. - Apollo will fund the remaining construction costs as the project reaches specific milestones [1][2]. Group 2: Project Significance - Hornsea 3 will produce enough electricity to power over three million UK homes and will increase the total installed capacity of the Hornsea zone to more than 5GW once operational [3][4]. - Ørsted will continue to manage the construction of Hornsea 3 and provide long-term operations and maintenance services [4]. Group 3: Financing and Partnerships - Senior financing for the transaction will be led by Apollo-managed entities, with support from banks including BNP Paribas, ING Bank, Lloyds, and RBC Capital Markets [5]. - Co-investors La Caisse and PSP Investments are also involved in the transaction through equity and debt financing [5].

Core Insights - The European Investment Bank (EIB) has provided a €500 million ($576.75 million) green loan to support Iberdrola's Windanker offshore wind farm in the German Baltic Sea, marking a significant step in financing green projects led by Spanish companies outside Spain [1][5] Group 1: Project Overview - Windanker is Iberdrola's third large-scale offshore wind project in the German Baltic Sea, contributing 315MW of offshore wind capacity and supplying renewable electricity to approximately 600,000 people annually [2] - The project utilizes 21 Siemens Gamesa SG 14-236 DD turbines, each capable of generating up to 15MW, featuring advanced direct drive technology for enhanced reliability and over 30% greater annual energy production compared to previous models [2][3] Group 2: Construction and Timeline - Construction began with the installation of the first monopile, while turbine installation is scheduled for 2026, with full commissioning expected in Q4 2026 [4] - The majority of the renewable electricity generated will be sold through long-term power purchase agreements in the German market [4] Group 3: Environmental Impact - The project is anticipated to reduce carbon dioxide emissions by an estimated 672,000 tons annually, supporting Germany's goal of achieving an 80% renewable share in electricity by 2030 [6] Group 4: Strategic Importance - The financing aligns with EU climate action and sustainability goals, contributing to Europe's independence from fossil-fuel imports [5] - The project is part of the EIB Group's TechEU program, which aims to mobilize €250 billion in investments by 2027 for innovative companies across Europe [5]

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STRATEGIC PORTFOLIO EXPANSION AND STRONG PRODUCT SEGMENT PERFORMANCE DROVE REVENUE AND EARNINGS GROWTH HIGHLIGHTS REVENUE AND NET INCOME ATTRIBUTABLE TO THE COMPANY’S STOCKHOLDERS GREW 17.9% AND 9.3%, RESPECTIVELYORMAT AND SLB PARTNER TO ACCELERATE AND EXPAND ENHANCED GEOTHERMAL SYSTEM DEVELOPMENTCOMPANY INCREASES ITS FULL YEAR REVENUE AND EBITDA GUIDANCE RENO, Nev., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading renewable energy company, today a ...

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Core Insights - The article highlights the expertise of Uttam, a growth-oriented investment analyst focusing on the technology sector, particularly in semiconductors, artificial intelligence, and cloud software [1] - Uttam's research extends to MedTech, Defense Tech, and Renewable Energy, indicating a broad interest in various high-growth industries [1] - The Pragmatic Optimist Newsletter, co-authored by Uttam and Amrita Roy, is recognized and cited by major publications like the Wall Street Journal and Forbes, showcasing its influence in the investment community [1] - Prior to his research career, Uttam gained significant experience in Silicon Valley, leading teams at major technology firms such as Apple and Google, which adds credibility to his insights [1]

Financial Performance & Guidance - The company projects 2025 adjusted gross margin to be between $3.21 billion and $3.28 billion[8] - The company anticipates 2025 EPS guidance to be between $4.90 and $5.10[8] - The company projects 2026 adjusted gross margin to be between $3.31 billion and $3.37 billion[11] - The company anticipates 2026 EPS guidance to be between $4.55 and $4.75[11] - The company targets long-term EPS growth of 5%-7% off original 2024 midpoint[12] Capital Investments & Rate Base - The company plans a total APS capital investment of $10.35 billion from 2025-2028[15] - The company projects the ACC rate base to be $15.7 billion in 2028[17] - The company projects the FERC rate base to be $4.0 billion in 2028[17] Regulatory & Operational Highlights - The company's 2025 rate case requests a net revenue increase of $580 million, impacting customers by 13.99% on day 1[40] - The company expects core O&M to remain flat with a rapidly growing customer base[23] - The company estimates cash from operations to be approximately $3.8 billion and total capital investment to be between $2.6 billion and $2.9 billion[25] Sales Growth - The company expects weather-normalized retail electricity sales growth of 4%-6% in 2026, including 3%-5% from large C&I customers[12] - The company's residential customer growth is projected to be 1.5%-2.5% in 2026[12]

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Summary of Nari Technology - A Conference Call Company Overview - **Company**: Nari Technology - A - **Industry**: Power Equipment and Utilities Key Points Financial Performance - **3Q25 Results**: Recurring profit increased by 7% year-over-year (yoy) [2][8] - **Revenue Growth**: Revenue grew by 17% yoy in 3Q, attributed to higher contributions from non-grid customers [3][9] - **Operating Expenses**: Opex growth was lower than expected, with selling, general, and administrative (SG&A) expenses rising by approximately 2% yoy [3][9] - **Impairment Charges**: Controlled at Rmb 40 million, significantly lower than Rmb 170 million in 1H and Rmb 80 million in 3Q24 [3][9] Margins and Costs - **Gross Margin**: Decreased by 3 percentage points (ppt) yoy to 27% in 3Q [4][9] - **Operating Margin**: Fell by 2 ppt yoy to 14% [4][9] - **R&D Expenses**: Increased by 17% yoy in 3Q, with expectations of ~20% growth in FY25 [4][9] Future Outlook - **Earnings Growth**: Expected to be lower than 10% for FY25 due to increased R&D spending, but anticipated to pick up in FY26E driven by lower opex growth and strong new orders growth (>20% in 9M) [2][11] - **Government Support**: Positive outlook supported by government initiatives for smart grid development and renewable capacity growth [2][11] Investment Thesis - **Overweight Rating**: Nari Technology is rated as Overweight with a price target of Rmb 26.00, based on a 22x 2026E P/E ratio [11][12] - **Revenue Dependency**: The company is 57%-owned by State Grid, which accounted for over 60% of revenue in FY24 [11] Risks - **Downside Risks**: Include lower-than-expected grid capital expenditures and margins, as well as reduced investments in ultra-high voltage (UHV) projects [13][11] Market Reaction - **Expected Stock Reaction**: Anticipated to be muted due to profit growth being in line with consensus expectations [8][5] Additional Insights - **Investment Income**: Increased significantly by 976% from Rmb 13 million to Rmb 141 million [9] - **Profit Before Taxation**: Grew by 8% yoy, indicating stable operational performance despite margin pressures [9] This summary encapsulates the key financial metrics, strategic outlook, and potential risks associated with Nari Technology - A, providing a comprehensive overview for investors and stakeholders.

Environmentalists are wrong that renewable energy is always cheaper, says @mattyglesias — and the Trump administration is wrong to try to block its deployment (via @opinion) https://t.co/kQ4y1Bw5IA ...