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Scott+Scott Attorneys at Law LLP Alerts Investors It Has Filed an Action Against XPLR Infrastructure, LP f/k/a Nextera Energy Partners, LP (NYSE: XIFR)
GlobeNewswire News Room· 2025-07-11 20:58
Core Viewpoint - A securities class action lawsuit has been filed against XPLR Infrastructure, LP, alleging misleading statements and omissions regarding the company's financial condition and business model during the class period from September 27, 2023, to January 27, 2025 [1][3]. Company Overview - XPLR Infrastructure, LP, formerly known as Nextera Energy Partners, LP, focuses on acquiring, owning, and managing contracted clean energy projects in the United States, including wind and solar power projects and a natural gas pipeline [2]. Allegations in the Class Action - The lawsuit claims that during the class period, the defendants made misleading statements about XPLR's operations as a yieldco, which is a business model focused on delivering cash distributions to investors [3]. - Specific allegations include: - XPLR was struggling to maintain its yieldco operations [3]. - Defendants entered financing arrangements to temporarily alleviate operational issues while downplaying associated risks [3]. - The company could not resolve these financings before maturity without risking significant unitholder dilution [3]. - Defendants planned to halt cash distributions to redirect funds to resolve financing issues [3]. - The yieldco business model and distribution growth rate were deemed unsustainable [3]. - Public statements made by the defendants were materially false and misleading [3]. Market Reaction - On January 28, 2025, XPLR announced it would suspend cash distributions to common unitholders and abandon its yieldco model, leading to a significant drop in the stock price from $15.80 to $10.49 per unit, a decline of nearly 35% [4].
XPLR INVESTOR ALERT: XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - XIFR
Prnewswire· 2025-07-10 21:20
Core Viewpoint - The XPLR Infrastructure class action lawsuit alleges that the company and its executives made misleading statements regarding its operations and financial health, leading to significant losses for investors during the specified class period [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Alvrus v. XPLR Infrastructure, LP and involves purchasers of XPLR Infrastructure securities from September 27, 2023, to January 27, 2025, with a deadline of September 8, 2025, to seek lead plaintiff status [1]. - XPLR Infrastructure operates as a "yieldco," managing contracted clean energy projects, including wind and solar power, and a natural gas pipeline [2]. Group 2: Allegations Against XPLR Infrastructure - The lawsuit claims that XPLR Infrastructure struggled to maintain its yieldco operations and entered financing arrangements that were downplayed in terms of risk [3]. - It is alleged that the company could not resolve these financing issues without risking significant dilution of unitholder value, leading to a planned halt in cash distributions to investors [3]. - On January 28, 2025, XPLR Infrastructure announced the suspension of cash distributions and the abandonment of its yieldco model, resulting in a nearly 35% drop in the price of its common units [4]. Group 3: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased XPLR Infrastructure securities during the class period to seek lead plaintiff status, representing the interests of the class [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6].
X @Forbes
Forbes· 2025-07-03 19:48
The One Big Beautiful Bill will kill wind and solar power tax credits—and pit humans against AI in a battle for scarce electricity.Read more: https://t.co/hyvWcMpU4E https://t.co/EGCqsbbe5V ...
X @Tesla Owners Silicon Valley
One of the best things Tesla is doing is driving the shift to sustainable energy with electric cars, solar power, and batteries to help cut fossil fuel use and fight climate change. https://t.co/nfTqPhCI19 ...
X @Forbes
Forbes· 2025-07-03 14:43
The One Big Beautiful Bill will kill wind and solar power tax credits—and pit humans against AI in a battle for scarce electricity.Read more: https://t.co/hyvWcMpU4E https://t.co/xQJorotoO2 ...
Trump's big bill threatens to raise taxes on clean energy industry by up to $7 billion, trade group says
CNBC· 2025-06-30 19:44
Senate Republicans are threatening to hike taxes on clean energy projects and abruptly phase out credits that have supported the industry's expansion in the latest version of President Donald Trump's big spending bill.The measures, if enacted, would jeopardize hundreds of thousands of construction jobs, hurt the electric grid, and potentially raise electricity prices for consumers, trade groups warn.The Senate GOP released a draft of the massive domestic spending bill over the weekend that imposes a new tax ...
Meta buys over 1 GW of renewables to power its data centers
TechCrunch· 2025-06-27 16:02
Group 1 - Meta has expanded its renewable power portfolio by adding over 1 gigawatt of generating capacity through recent deals [1][2] - The company will purchase 791 megawatts of solar and wind power from Invenergy in Ohio, Arkansas, and Texas, and acquire environmental attributes from two solar farms in Texas totaling 360 megawatts from Adapture Renewables [1][2] - These projects are expected to come online in 2027 and 2028, continuing Meta's trend of significant renewable energy investments [2] Group 2 - Meta's recent renewable energy deals come at a time when subsidies for renewable technologies are being targeted for elimination in legislative discussions [3] - Solar power is identified as the fastest method for data centers to acquire new power, with typical solar farms being completed in about 18 months [3] - Phased construction of solar farms allows for some power generation to begin even sooner than the full completion timeline [3]
Eni's Plenitude to Build Solar Plant for Modine in Italy
ZACKS· 2025-06-26 13:45
Key Takeaways E is constructing a 1.585 MWp solar plant in Pocenia to power Modine's thermal and cooling systems. The 10-year EPC deal lets Modine access fixed-cost clean energy with no upfront investment. E previously built two solar systems for Modine and plans to triple renewables to 10 GW by 2028.Plenitude, the multi-energy subsidiary of Eni S.p.A (E) , has partnered with global thermal management company Modine for the construction of a new solar power plant in Pocenia, Udine. The photovoltaic facili ...
Statkraft strengthens core activities and competitiveness following strategic review
Globenewswire· 2025-06-18 11:45
Core Strategy - Statkraft, Europe's largest producer of renewable energy, is focusing on its flexible hydropower fleet in the Nordics and expanding solar, wind, and battery activities in Europe and South America to strengthen its competitive advantages [1][2] - The company aims to prioritize near-term cash flow over volume growth, reducing complexity and costs while maintaining a strong focus on core activities [1][3] Investment Plans - Statkraft plans to invest NOK 16–20 billion annually in the coming years, targeting large hydropower capacity upgrades in Norway and onshore wind power developments in Sweden and Norway [3] - The company has a significant pipeline of projects in Europe and South America, although growth rates will be lower than previously planned [3] Project Development Adjustments - Statkraft will cease new hydrogen project developments and stop further activities in offshore wind projects, while continuing with the North Irish Sea Array (NISA) project [4][5] - The company will assess its investment position in solar, wind, and batteries in Poland and will halt development activities in Portugal, although market activities will persist in both countries [4] Cost Efficiency Measures - By focusing on fewer technologies and countries, Statkraft aims to reduce payroll and operating expenses by approximately NOK 2.9 billion annually by 2027, representing a 15% reduction compared to the 2025 estimate [7] - Specific cost efficiency measures, including potential redundancies, will be identified through the annual business planning process [7] Long-term Perspective - Despite ongoing geopolitical challenges that may delay the energy transition, Statkraft maintains a long-term perspective and believes in its strong position to contribute to energy security and the energy transition [9] - The company has delivered significant value creation, paying NOK 59 billion in dividends and more than doubling its equity value to over NOK 300 billion since 2018 [8]