Latest Alternative energy industry News

BP to cut dividends as it prepares for fossil fuel decline

Aug. 4, 2020 6:13 AM EDT

LONDON (AP) — BP plc said Tuesday it plans to slash dividends as the global oil company prepares for declining sales of fossil fuels by boosting investment in alternative energy projects. London-based BP said it will increase spending on low-carbon technology, including renewable energy projects, 10-fold...

Democratic presidential candidate, former Vice President Joe Biden speaks during a campaign event, Tuesday, July 14, 2020, in Wilmington, Del. (AP Photo/Patrick Semansky)

Biden's $2 trillion climate plan aims to reframe debate

Jul. 14, 2020 8:52 PM EDT

WILMINGTON, Del. (AP) — Joe Biden released a $2 trillion plan on Tuesday to boost investment in clean energy and stop all climate-damaging emissions from U.S. power plants by 2035, arguing that dramatic action is needed to tackle climate change and revive the economy. In remarks near his home in...

FILE - In this Dec. 30, 2011 file photo, Cao GuangJing, left, CEO of China Three Gorges Corporation, embraces Antonio Mexia, CEO of Energia de Portugal (EDP) after signing a deal at the Portuguese Finance Ministry in Lisbon. The Lisbon stock exchange on Monday july 6, 2020, suspended trading in Portugal's national energy provider EDP and its international renewable energy division after media reports said a magistrate has suspended the CEOs of both companies amid a major corruption investigation. EDP is one of Portugal's biggest companies, with significant interests in the U.S. renewable energy market. Its biggest shareholder is China Three Gorges. (AP Photo/ Francisco Seco)

Portuguese energy firms replace CEOs amid corruption probe

Jul. 7, 2020 7:06 AM EDT

LISBON, Portugal (AP) — Shares in Portugal’s blue-chip national energy provider EDP and its international renewable energy division rose Tuesday after the companies replaced their CEOs amid a corruption investigation. An investigating magistrate on Monday ruled that Energias de Portugal CEO Antonio...

Trading halted in Portugal energy firm amid corruption probe

Jul. 6, 2020 1:57 PM EDT

LISBON, Portugal (AP) — The Lisbon stock exchange suspended trading in Portugal’s national energy provider EDP and its international renewable energy division Monday after media reports said a magistrate had suspended the chief executives of both companies amid a major corruption investigation. The...

House Speaker Nancy Pelosi of Calif., speaks at a news conference on Capitol Hill in Washington, Friday, June 26, 2020. (AP Photo/Carolyn Kaster)

Dem climate plan would end greenhouse gas emissions by 2050

Jun. 30, 2020 5:56 PM EDT

WASHINGTON (AP) — House Democrats on Tuesday unveiled a plan to address climate change that would set a goal of net-zero greenhouse gas emissions by 2050, while pushing renewable energy such as wind and solar power and addressing environmental contamination that disproportionately harms low-income and...

FILE - This Tuesday, Aug. 1, 2017 file photo shows the BP logo at a petrol station in London. Energy company BP is writing off as much as $17.5 billion from its oil and gas assets and will review its plans to develop oil wells as the COVID-19 pandemic accelerates its goal of decreasing its reliance on fossil fuels. (AP Photo/Caroline Spiezio, File)

BP sells petrochemicals arm to Ineos for $5 billion

Jun. 29, 2020 8:14 AM EDT

LONDON (AP) — Oil and gas company BP has sold its global petrochemicals business to Ineos for $5 billion, part of its plan to shift activities to renewable sources of energy. The company said in a statement Monday that the overlap of the petrochemicals business with the rest of the company is...

At least 15 dead in southern Mexico wind-farm feud killings

Jun. 22, 2020 9:52 PM EDT

MEXICO CITY (AP) — A longstanding feud over a wind-power project has boiled over into grisly violence, after at least 15 people were bludgeoned to death with stones and cement blocks, and some bodies were partly burned. The government of the Pacific coast community of San Mateo del Mar in Oaxaca state...

FILE - This Tuesday, Aug. 1, 2017 file photo shows the BP logo at a petrol station in London. Energy company BP is writing off as much as $17.5 billion from its oil and gas assets and will review its plans to develop oil wells as the COVID-19 pandemic accelerates its goal of decreasing its reliance on fossil fuels. (AP Photo/Caroline Spiezio, File)

BP takes $17.5B hit as pandemic accelerates emissions cuts

Jun. 15, 2020 12:01 PM EDT

LONDON (AP) — BP says it will cut the value of its oil and gas assets by as much as $17.5 billion and review plans for some oil wells as the COVID-19 pandemic reduces demand for oil and gas and forces major energy companies to speed up the shift away from fossil fuels. The London-based company said Monday...