Stocks of clean-energy companies are proving to be better investments than those of companies that produce most of the Western Hemisphere's power, and are outperforming the rest of the stock market as well.

The evidence is found in the New York Stock Exchange Bloomberg Americas Clean Energy Index. Its 141 companies, all based in North and South America, returned 32.62 percent in the past two years. In contrast, the 40 conventional-energy companies in the Standard and Poor's 500 Energy Index returned 1.02 percent over the same period, according to data compiled by Bloomberg.

Clean energy also is beating the rest of the stock market. The Clean Energy Index is up 6.02 percent so far this year. Lagging behind are both the S&P 500 and the Russell 3000 Index, which gained 3.12 percent and 3.86 percent respectively in 2015.

Executives from 13 major U.S. corporations are announcing at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit later this year in Paris.

Companies including Apple Inc., Berkshire Hathaway Energy Co., and Goldman Sachs Group Inc. will join Secretary of State John Kerry and top administration officials at the White House for the announcement. In addition to pledges to cut emissions, provide financing to environmentally-focused companies, and reduce water consumption, the companies have said they will procure at least 1,600 MW of new, renewable energy. The White House said in a statement that it expects to announce a second round of similar pledges later this fall from additional companies.

The commitments are being announced as President Barack Obama is looking to build momentum toward a legacy-defining global climate accord in Paris. In addition to company-specific commitments, the corporate leaders on Monday will signal their support for a strong climate agreement out of the United Nations talks. They administration is using the pledges to set an example for companies to find ways to eliminate their carbon emissions.

Climate Talks

“As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential,” the White House said in a fact sheet detailing the announcement.

The administration’s actions are pushing the issue into the 2016 presidential debate. Hillary Clinton, the front-runner for the Democratic nomination, released an energy strategy saying she would both defend and go beyond Obama’s efforts. Republican candidates have criticized the administration’s initiatives as costly to the economy and unnecessary.

Among the pledges, aluminum manufacturer Alcoa Inc. has agreed to reduce emissions by 50 percent from its 2005 levels, while agricultural giant Cargill Inc. says 18 percent of its total energy use will come from renewable sources.

Coca-Cola Co. said it would drive down the carbon footprint of its beverage production by 25 percent over the next five years, while Google says it plans to triple its purchases of renewable energy over the next decade. Berkshire Hathaway says it plans to invest up to an additional $15 billion in the construction and operation of renewable energy generators, while Bank of America Corp says it will increase its environmental business initiative by $75 billion over the next decade, according to the White House

Other participating firms include Wal-Mart, United Parcel Service Inc., PepsiCo Inc., Microsoft Corp., General Motors Inc.

The corporate commitments won’t be the administration’s only major climate announcement in the next few weeks. The Environmental Protection Agency is set to present final regulations that aim to reduce carbon emissions from power plants by 30 percent from 2005 levels by 2030 later this week.

While visiting Kenya over the weekend, Obama repeatedly praised the country for its efforts to address climate change, saying its efforts tor educe emissions “has put it in the position of being a leader on the continent.” And next month, the president will travel to Alaska for an international summit on Arctic climate issues.

©2015 Bloomberg News

For more, see Big Companies, Big Renewable Investments.

Q2 of 2015 saw a large increase in the generation of electricity from solar PV in the UK, with the growth having a significant impact on electricity market prices and other supply factors.

Engineering firm Lahmeyer International GmbH and sub-consultant Manitoba Hydro International have been awarded a contract by Tanahu Hydropower Ltd. to provide a number of services associated with the development of the 140-MW Tanahu pumped-storage project in Nepal.

According to a press release from Aquamarine Power, the marine hydrokinetic (MHK) Wave Power Offtake Device (WavePOD) 10th-scale prototype, a project run jointly by Aquamarine Power, Bosch Rexroth and Carnegie Wave Energy, has received US$3.1 million in new funding. 

Changes to the United Kingdom's Feed-In Tariff program could have a negative impact on a number of generation sectors -- including small hydroelectric power -- according to a number of industry groups.

On Aug. 27, Rwanda’s Ministry of Infrastructure government announced it has leased 22 small hydropower projects located in the northern and western provinces to private investors to spur the country’s hydroelectric energy program. According to energy experts at the ministry, the plants would add about 24.6 MW of hydroelectric energy to the national grid. 

A recent announcement published by Bulawayo 24 indicates several hydro projects are moving forward in Zambia.

Venezuela's government is taking measures to inspect the infrastructure of the country’s main hydroelectric-related civil structure as rising temperatures, reduced precipitation and increased energy demand affect water levels at the 4,000-square-mile Guri Reservoir.  

Lignum Vitae North America LLC will donate bearings to any of the 20 teams advancing to the next phase in the Wave Energy Prize Challenge sponsored by the U.S. Department of Energy’s Water Power Program.  

Project owner Brookfield Smoky Mountain Hydropower LLC (BSMH) is drawing down Chilhowee Reservoir, part of the 44-MW Chilhowee hydroelectric facility, to investigate seepage at the Chilhowee Dam on the Little Tennessee River in Blount and Monroe counties, Tenn.  

The European Commission's Climate Change Committee has approved a transfer of US$19.3 million in funding for tidal energy developer Atlantis Resources from the Kyle Rhea project to its 398-MW MeyGen project.

The International Hydropower Association has been re-elected to the steering committee of the Renewable Energy Policy Network for the 21^st Century (REN21).

On Nov. 11, Germany-based Aquila Capital announced it has signed an agreement with four Norwegian utility companies -- Statkraft AS, Agder Energi, BKK and Skagerak Energi -- to acquire all shares of Smakraft AS, Norway's largest small-hydro company.  

During the Ocean Energy Europe 2015 conference held in Dublin, Ireland, in late October, about 500 high-level delegates, which included European Union and Member States business leaders and energy ministers, were presented a draft of the “strategic roadmap” for developing the European marine hydrokinetics (MHK) energy sector.
 

Offshore Renewable Energy (ORE) Catapult and consultancy firm Frazer-Nash, both based in the UK, will perform a live demonstration of their marine hydrokinetics (MHK) energy project risk assessment tool during the International Tidal Energy Summit pre-conference risk and reliability workshop in London on Nov. 23.
 

As the Zambezi River Authority (ZRA) of Zambia and Zimbabwe seeks to secure funding for the 2,400-MW Batoka Gorge hydroelectric facility, the region is experiencing rolling blackouts based on reduced inflow to existing hydroelectric generating facilities. 

The U.S. House of Representatives has passed bipartisan hydroelectric power regulatory improvement provisions as part of the North American Energy Security and Infrastructure Act of 2015, potentially helping to expedite the project approval process.

The US$1.6 billion Northern Pass transmission line that could tap into 1,096 MW from Canada’s largest hydropower producer, HydroQuebec, was approved Dec. 7, by a 6-0 vote of New Hampshire’s Site Evaluation Committee [SEC].
 

The European Marine Energy Centre (EMEC) has signed Flemish wave energy developer Laminaria to test its marine hydrokinetic (MHK) energy device at EMEC’s grid-connected wave test site at Billia Croo, off the west coast of Orkney, Scotland.
 

Congress today announced details of a year-end tax deal that could provide a two-year extension on provisions for hydroelectric and marine hydrokinetic resources.

Security researcher Brian Wallace was on the trail of hackers who had snatched a California university's housing files when he stumbled into a larger nightmare: Cyberattackers had opened a pathway into the networks running the United States power grid.
 

A significant step to develop the first megawatt from the marine hydrokinetic (MHK) Sotenas Wave Energy Plant off of Sweden’s west coast took place earlier this month when a 120-ton subsea generator switchgear was deployed and connected to the Swedish national power grid via a 10-km-long subsea cable.
 

Clean, renewable energy is the single most needed technology by the millennial generation. Not only is it the key to slowing global warming and climate change, but it also solves a host of other problems, such as respiratory diseases and national security.

Papua New Guinea recently became the first country to formally submit the final version of its national climate action plan (called a “Nationally Determined Contribution,” or NDC) under the Paris Agreement. The small Pacific nation’s plan to transition to 100 percent renewable energy by 2030 is no longer just an “intended” nationally determined contribution (INDC) — it is now the country’s official climate plan.

Development-ready sites, with existing reservoirs for new pumped hydro energy storage plants, offer generation potential of 2,291 GWh, according to a newly released report from the eStorage Project.

Italian construction and civil engineering firm Salini Impregilo has been awarded a US$2.8 billion contract to build the 2,200-MW Koysha hydropower plant in Ethiopia.

Hydroelectric power developer Snowdonia Pumped Hydro has withdrawn its application for environmental permits for the 99.9-MW Glyn Rhonwy pumped-storage plant from Natural Resources Wales.

Bolivia’s President Evo Morales has approved a supreme decree to carry out final design studies for the 3,251-MW El Chepete and 425-MW El Bala hydro projects in La Paz department.

Brazil's Institute of the Environment and Natural Resources, Ibama, has decided not to award an environmental license for the Sao Luiz do Tapajos hydroelectric plant, effectively ending development of the controversial 8,000 MW project.

Brazil's Institute of the Environment and Natural Resources, Ibama, has decided not to award an environmental license for the Sao Luiz do Tapajos hydroelectric plant, effectively ending development of the controversial 8,000 MW project.

British Columbia-based tidal developer, Yourbrook Energy Systems Ltd., is testing what it calls a prototype of a shallow water tidal-powered generator pump that could one day be used as part of a pumped storage hydroelectric project.
 

The G20 meeting in Hangzhou, China, this September brings together leaders of the world’s largest economies for the first such gathering since the 2015 Paris Agreement on climate. G20 Leaders Summits traditionally focus on economic growth and financial stability, but since more than 190 countries collectively agreed to greatly enhance mitigation of the causes and impacts of climate change, the need to tackle a changing climate and foster clean energy has become a clear economic and business reality.

Developer SN Aboitiz Power-Ifugao has said it remains committed to developing the 390-MW Alimit hydropower project in the Philippines, pending consent from indigenous groups impacted by its construction.

The United States and China on Sept. 3 formally joined the Paris Agreement in a ceremony in Hangzhou, China, ahead of the G20 Summit. President Obama and President Xi both deposited their country’s official instrument with United Nations Secretary, General Ban-Ki Moon.

Electricite du Laos and General Electric have signed a memorandum of understanding to launch joint research and training programs designed to support the development of Laos' hydroelectric power sector and electric grid.

Zambia and Zimbabwe have appointed the African Development Bank (AfDB) as lead financial adviser for the construction of the 2,400-MW Batoka Gorge hydropower project, according to Zambezi River Authority (ZRA) Chief Executive Officer, Munyaradzi Munodawafa.
 

Construction resumed Oct. 4 on tunnel works after a brief work stoppage that began on Sept. 28 at the 20-MW Lower Modi Khola run-of-river hydropower facility.
 

Bernadette A. Hernandez-Sanchez, Ph.D., is a chemist and now the first female researcher from Sandia National Laboratories (Sandia) to receive the Outstanding Technical Achievement award from Great Minds in STEM.
 

Carnegie Wave Energy Ltd., in a press release on Nov. 1, announced it intends to change its name to Carnegie Clean Energy Ltd. (CCE).
 

The first power has been produced at the MeyGen tidal power site in Scotland, according to project developer Atlantis Resources Ltd.

The North Carolina Attorney General's Office has filed a court injunction against the German ownership group that owns the damaged Woodlake Dam in an effort to make it pay for dam safety repairs.

Manitoba Hydro has announced that it will eliminate more than 15% of its workforce while raising rates by at least 10% as the provincial utility's efforts to cut expenditures continue.

Power Africa and Trade Africa Coordinator, Andrew Herscowitz, announced on Feb. 14 during the Abuja Electricity Distribution Co.’s two-day Distribution Company Workshop in Abuja, Nigeria, that the U.S. will invest US$1billion in the country through the U.S. Trade and Development Agency (USTDA).

The partnership between Manitoba Hydro and four First Nations via the Keeyask Hydropower Limited Partnership (KHLP) announced a significant increase in its control budget and a revised commissioning date for the 695-MW Keeyask Generating Station in a statement on March 7.
 

The user selection board of the €11 million (US$11.8 million) Funding Ocean Renewable Energy through Strategic European Action (FORESEA) project has awarded “Recommendations for Support” to 15 offshore renewable energy technologies, according to an announcement today from FORESEA.  

A new paper is being launched today at the House of Lords in London that challenges government, regulators and companies working on clean energy to make gender diversity a key priority. The paper has been produced by the EWiRE network, set up by Regen to provide a vibrant network for women working in clean energy.

Only time will tell whether this is right, but EV adoption is clearly rising both on the individual and fleet fronts. Utilities such as Southern California Edison and Ameren, among many others, are working to build EV charging infrastructure and align power distribution in a way to handle it.

When Hurricane Maria devastated Puerto Rico, it cut short nearly 3,000 lives, displaced thousands of families, and subjected the commonwealth to the longest energy blackout in U.S. history. This tragedy invited a new vision for Puerto Rico’s battered electric grid, and I hoped that a central tenet of the rebuilding effort would be an aggressive move toward safe, abundant and resilient clean energy.