NewzIntel.com

Category: Energy

  • MIL-OSI: Ellomay Capital Announces Results of Extraordinary General Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    Tel-Aviv, Israel, Jan. 30, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and the USA, today announced that at the extraordinary general meeting of the Company’s shareholders, held on January 30, 2025 (the “EGM”), the Company’s shareholders approved the terms of service and compensation of Mr. Ben Sheizaf, the Company’s Chairman of the Board.

    For more information, please see the Company’s Notice and Proxy Statement relating to the EGM, submitted on Form 6-K to the Securities and Exchange Commission on December 23, 2024.

    About Ellomay Capital Ltd.

    Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

    To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:

      ● Approximately 353.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and approximately 38 MW of operating solar power plants in Italy;
         
      ● 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;
         
      ● Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
         
      ● 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
         
      ● Solar projects in Italy with an aggregate capacity of 195 MW that have reached “ready to build” status; and
         
      ● Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of 49 MW that are under construction.

    For more information about Ellomay, visit http://www.ellomay.com.

    Information Relating to Forward-Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including changes in electricity prices and demand, regulatory changes increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Kalia Rubenbach (Weintraub)
    CFO
    Tel: +972 (3) 797-1111
    Email: hilai@ellomay.com

    The MIL Network –

  • MIL-OSI USA: Barrasso: Confirm Doug Burgum and Chris Wright to Lead America’s Golden Age of Energy Dominance

    US Senate News:

    Source: United States Senator for Wyoming John Barrasso
    WASHINGTON, D.C. – U.S. Senator John Barrasso (R-Wyo.), Senate Majority Whip, today spoke on the Senate floor ahead of confirmation votes for Governor Doug Burgum, President Donald J. Trump’s nominee to be the Secretary of the Interior, and Chris Wright, President Donald J. Trump’s nominee to be the Secretary of Energy.
    Click HERE to watch Senator Barrasso’s remarks.
    Sen. Barrasso’s remarks as prepared:
    “I rise today to talk about prices, energy, and the economy.
    “My message is simple: Unleashing American energy will help lower prices. It is essential.
    “Energy is often called the master resource. By controlling our own energy production, we control our own future.
    “Not long ago, America was the leading producer of energy in the world. President Trump made America energy independent for the first time in decades.
    “That changed in four short years under the prior administration. We went from energy dominance to energy dependence.
    “The previous administration went on a regulatory rampage. It was disastrous. The result was painfully high prices for food and for fuel.
    “Suddenly, Washington was attacking energy producers and energy workers in states like my home state of Wyoming. America found itself turning to adversaries for energy.
    “Let me ask a simple question.
    “Does anyone believe we were better off relying on dictators in China, Russia, Venezuela and Iran to power America?
    “Does anyone believe we were better off when energy prices were sky high?
    “Were Americans more prosperous?
    “The answer is no.
    “For the past four years, the previous administration treated energy as the enemy.
    “Governor Doug Burgum and Chris Wright will treat American energy as the God-given blessing it is.
    “Available, affordable, reliable, American energy is an asset.
    “Energy is the source of American strength. It is a solution to bring down painfully high prices.
    “America is an energy superpower. We should act like it.
    “Working together, Governor Burgum and Chris Wright will be a powerhouse energy team.
    “Governor Burgum grew up in Arthur, North Dakota – population: 400.
    “He studied business at Stanford University. He built Great Plains, a software company, into a global public company.
    “As Governor of North Dakota for the last 8 years, he drove his state’s transformation into an energy and technology leader.
    “Instead of blocking energy production, he invited and incentivized companies to operate in North Dakota. In turn, his state produced more and more energy.
    “In his Senate hearing, Governor Burgum explained this success.
    “He said, ‘We live in a time of tremendous abundance, and we can access that abundance by prioritizing innovation over regulation.’
    “He is spot on.
    “I questioned Governor Burgum in the Energy and Natural Resources Committee.
    “We have more than 600,000 acres of federal land in Wyoming that were previously approved for energy production.
    “The previous administration never offered those acres for lease.
    “It also blocked using land even though energy explorers purchased the right to that land over 4 years ago.
    “I am glad Governor Burgum committed to quickly address this issue. He will take the common-sense action of unlocking our lands for oil and gas production.
    “Chris Wright is also an innovative leader.
    “He studied nuclear fusion at the Massachusetts Institute of Technology. He then worked in solar and geothermal engineering.
    “At Liberty Energy – a fracking company he founded and where he is currently the CEO – Wright’s creative, data-driven leadership kickstarted the American fracking revolution.
    “What I like most about Mr. Wright is that he tells the truth about energy production.
    “He acknowledges climate change is real. He knows more American energy is the solution, not the problem. His energy realism is welcomed news.
    “When I spoke with Mr. Wright in the Energy and Natural Resources Committee, we agreed about the need for an all-of-the-above energy strategy,including nuclear energy.
    “Mr. Wright agrees with me that it is not in America’s best interest to be dependent on imported uranium from Russia.
    “Congress passed my legislation to ban the import of Russian uranium in the United States. The Secretary of Energy has discretion to provide waivers to companies to import Russian uranium.
    “I am pleased that Mr. Wright committed to using these waivers only in very limited and extreme circumstances.
    “He also pledged to work with us to end uranium imports from Communist China.
    “These are positive steps towards rebuilding America’s nuclear supply.
    “Both Governor Burgum and Mr. Wright are optimistic about America’s energy future.
    “I strongly support them. They are America’s energy all stars.
    “They have laid out an inspiring vision for lowering prices, building up our energy supply, and dealing with our adversaries from a position of strength.
    “Later today, the Senate will vote to confirm Governor Burgum. Chris Wright’s confirmation will soon follow. They deserve strong support here in the Senate.
    “With their leadership, the age of climate alarmism is over. The golden age of American energy dominance is here.”

    MIL OSI USA News –

  • MIL-OSI Submissions: OPEC Fund and Mauritania strengthen cooperation with US$120 million-partnership agreement

    Source: The OPEC Fund for International Development

    January 30, 2025: The OPEC Fund for International Development (OPEC Fund) and the Islamic Republic of Mauritania have signed a landmark Country Partnership Framework Agreement to cooperate on key development initiatives during the period 2025-2027, earmarking US$120 million in new development financing focusing on the country’s development priorities.

    The funding will finance critical projects that contribute to projects promoting renewable energy, clean water, food security, improved transport and clean cooking. In addition the OPEC Fund is pledging to provide up to US$500,000 in grants for capacity-building, project preparation and technical assistance.

    OPEC Fund President Abdulhamid Alkhalifa said during a visit to the capital Nouakchott: “We are proud to help improve the lives of people and communities for a more resilient future.

    Our commitment to Mauritania is focused on bolstering key sectors of the economy. Technical assistance and strong project preparation are vital to mobilize additional development funding, enable public-private partnerships (PPPs) and attract private sector investment.”

    An OPEC Fund delegation led by President Alkhalifa is visiting Mauritania from January 30-31, 2025. The delegation expects to meet Mauritanian President Mohamed Ould Ghazouani, Prime Minister El Moctar Ould Djay, Minister of Economy and Finance Sid’Ahmed Ould Bouh and other government officials to discuss implementation of the Country Partnership Framework Agreement and explore opportunities for further cooperation.

    The OPEC Fund’s financing will support key projects that align with the country’s objectives of advancing clean energy, food security, water & sanitation while supporting sustainable and inclusive development and strengthening infrastructure for women and youth in particular. Joint initiatives also aim to strengthen Mauritania’s PPP regulatory framework and boost private sector investment.

    The Country Partnership Framework Agreement underscores the longstanding relationship between the OPEC Fund and Mauritania, with more than US$250 million in loans provided to the country for various infrastructure and development projects to date.

    About the OPEC Fund

    The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively.

    The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world.

    The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education.

    To date, the OPEC Fund has committed more than US$29 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.

    MIL OSI – Submitted News –

  • MIL-OSI: Evolution Petroleum Schedules Fiscal Second Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced that it plans to release its fiscal second quarter 2025 financial and operating results on Tuesday, February 11, 2025, after the market closes. Additionally, Kelly Loyd, President and Chief Executive Officer, Ryan Stash, Senior Vice President, Chief Financial Officer, and Treasurer, and Mark Bunch, Chief Operating Officer, will review the results on a conference call at 10:00 a.m. Central Time on Wednesday, February 12, 2025.

    Conference Call and Webcast Details

    Date: Wednesday, February 12, 2025
    Time: 10:00 a.m. Central Time
    Dial-In: (844) 481-2813
    International Dial-In: (412) 317-0677
    Note: Dial-in participants should ask to join the Evolution Petroleum Corporation call.
    Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=HS7VesBT

    A webcast replay will be available through February 12, 2026, via the webcast link above and on Evolution’s website at www.ir.evolutionpetroleum.com.

    About Evolution Petroleum

    Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Properties include non-operated interests in the following areas: the SCOOP/STACK plays of the Anadarko Basin in Oklahoma; the Chaveroo Oilfield located in Chaves and Roosevelt Counties, New Mexico; the Jonah Field in Sublette County, Wyoming; the Williston Basin in North Dakota; the Barnett Shale located in North Texas; the Hamilton Dome Field located in Hot Springs County, Wyoming; the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana; as well as small overriding royalty interests in four onshore Texas wells. Visit www.evolutionpetroleum.com for more information.

    Contact
    Investor Relations
    (713) 935-0122
    ir@evolutionpetroleum.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Diamondback Energy, Inc. Announces Drop Down Transaction

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, Jan. 30, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced that it has entered into a definitive purchase agreement with Viper Energy, Inc. (“Viper”), a subsidiary of Diamondback, to sell certain mineral and royalty interests from subsidiaries of Diamondback for $1 billion in cash and approximately 69.6 million units of Viper’s operating subsidiary (“OpCo”, and such units the “OpCo Units”) in a drop down transaction (“Drop Down”). The tax advantaged OpCo units, which will be issued together with an equal number of shares of Class B common stock of Viper, are exchangeable for shares of Class A common stock of Viper.

    Based on the volume weighted average sales price of Viper’s common stock for the 30-trading day period ending on January 24, 2025 of $49.55, the transaction is valued at a total of $4.45 billion. Viper expects to fund the cash portion of this transaction through a combination of cash on hand, borrowings under Viper’s credit facility, and proceeds from one or more capital markets transactions, subject to market conditions and other factors.

    “This Drop Down transaction with Viper is a major milestone in the continued synergy capture and execution of corporate development objectives related to the Endeavor transaction,” stated Travis Stice, Chairman and Chief Executive Officer of Diamondback. “Additionally, the Drop Down will accelerate debt reduction and increase Diamondback’s exposure to Viper’s differentiated growth profile and market-leading minerals position.”

    Timing and Approvals

    Diamondback expects the transaction to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions and approval of the transaction by Viper’s stockholders.

    Advisors

    RBC Capital Markets is serving as financial advisor to Diamondback. Kirkland & Ellis LLP is acting as legal advisor to Diamondback.

    Evercore is acting as financial advisor to the Audit Committee of Viper’s Board of Directors. Hunton Andrews Kurth LLP is acting as legal advisor to Viper’s Audit Committee.

    About Diamondback

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the recently completed Endeavor merger, the Drop Down transaction and other acquisitions or divestitures); and plans and objectives of management (including plans for future cash flow from operations) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases and any related company or government policies or actions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial markets; inflationary pressures; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change; those risks described in Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 22, 2024, and those risks disclosed in its subsequent filings on Forms 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this letter or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

    Additional Information about the Drop Down and Where to Find It

    In connection with the Drop Down, Viper expects to file relevant materials with the SEC including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, Viper will mail the definitive proxy statement to each Viper stockholder entitled to vote at the special meeting relating to the Drop Down. This document is not a substitute for the proxy statement or for any other document that Viper may file with the SEC and send to its stockholders in connection with the Pending Drop Down. INVESTORS AND STOCKHOLDERS IN VIPER ARE URGED TO CAREFULLY READ THE VIPER PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE DROP DOWN THAT VIPER WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement, and other relevant materials in connection with the Drop Down (when they become available) and any other documents filed by Viper with the SEC, may be obtained free of charge at the SEC’s website www.sec.gov. Copies of the documents filed with the SEC by Viper will be available free of charge on Viper’s website at www.viperenergy.com/investors.

    Participants in the Solicitation

    Viper and its directors and executive officers, and Diamondback as its parent and major stockholder, may be deemed, under SEC rules, to be participants in the solicitation of proxies from Viper’s stockholders in connection with the Drop Down. Information about the directors and executive officers of Viper and, as applicable, about Diamondback, is set forth in (i) in Viper’s proxy statement for its 2024 annual meeting, including under the headings “Proposal 1—Election of Directors”, “Executive Officers”, “Compensation Discussion and Analysis”, “Compensation Tables”, “Stock Ownership” and “Certain Relationships and Related Transactions,” which was filed with the SEC on April 25, 2024 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000119312524113976/d796418ddef14a.htm, (ii) Viper’s Annual Report on Form 10-K for the year ended December 31, 2023, including under the headings “Item 10. Directors, Executive Officers and Corporate Governance”, “Item 11. Executive Compensation”, “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and “Item 13. Certain Relationships and Related Transactions, and Director Independence”, which was filed with the SEC on February 22, 2024 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000160206524000010/vnom-20231231.htm and (iii) subsequent statements of changes in beneficial ownership on file with the SEC.

    Additional information about Diamondback may be found in Diamondback’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 22, 2024, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed by Diamondback with the SEC. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    Additional information regarding the participants in the proxy solicitation and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials filed by Viper with the SEC when they become available. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Viper’s website at www.viperenergy.com/investors.

    No Offer or Solicitation

    This document does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

    Diamondback Investor Contact:

    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com

    The MIL Network –

  • MIL-OSI: Viper Energy, Inc., A Subsidiary of Diamondback Energy, Inc., Announces Drop Down Transaction and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, Jan. 30, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today provided an update on Q4 2024 financial and operating results.

    FOURTH QUARTER HIGHLIGHTS

    • Q4 2024 average daily production of 29,859 bo/d (56,109 boe/d)
    • Q4 2024 average unhedged realized prices of $69.91 per barrel of oil, $0.84 per Mcf of natural gas, and $22.15 per barrel of natural gas liquids
    • During the fourth quarter of 2024, the Company recorded total operating income of $228.7 million
    • Declared Q4 2024 combined base-plus-variable dividend of $0.65 per Class A common share; payable on March 13, 2025 to Class A shareholders of record at the close of business on March 6, 2025

    Additionally, the Company announced today it and its operating subsidiary Viper Energy Partners LLC (“OpCo”) have entered into a definitive purchase and sale agreement to acquire all of the equity interests of certain mineral and royalty-interest owning subsidiaries of Diamondback in exchange for $1.0 billion of cash and approximately 69.6 million OpCo units (along with an accompanying equal amount of Class B common stock of the Company), subject to customary adjustments (the “Drop Down”). The transaction was negotiated for the Company by the Audit Committee of its Board of Directors, which consists solely of independent directors and is appointed by the Board of Directors to oversee all related party transactions. The cash portion of this transaction is expected to be funded through a combination of cash on hand, borrowings under the Company’s credit facility, and proceeds from one or more capital markets transactions, subject to market conditions and other factors. The Company expects the transaction to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions, including the approval of the transaction by a majority of the Company’s stockholders not affiliated with Diamondback.

    The Company today also announced it and OpCo have entered into a separate definitive purchase and sale agreement to acquire certain mineral and royalty interests from Morita Ranches Minerals LLC in exchange for approximately $211 million of cash and approximately 2.4 million OpCo units (along with an accompanying equal amount of Class B common stock of the Company), subject to customary adjustments (the “Quinn Ranch Acquisition” and together with the Drop Down, the “Pending Acquisitions”). The cash portion of this transaction is expected to be funded through a combination of cash on hand and borrowings under the Company’s credit facility. The Company expects the transaction to close during the first quarter of 2025, subject to customary closing conditions.

    PENDING ACQUISITIONS COMBINED HIGHLIGHTS

    • Approximately 23,100 net royalty acres (“NRAs”) in the Midland Basin; additional acreage in the Delaware and Williston Basins (approximately 1,700 NRAs combined)
    • Diamondback operates >70% of the Midland Basin NRAs with an approximately 5.0% average net revenue interest (“NRI”) across high-quality and largely undeveloped acreage
    • Expected average daily oil production for full year 2025 of approximately 18,000 bo/d (32,000 boe/d); includes contribution from Diamondback’s expected development plan (11.0-12.0 net 100% royalty interest wells) and 6.7 net existing DUCs and permits operated by third party operators
    • Viper currently expects Diamondback to complete roughly 300-325 gross locations on the acquired properties in 2026 with an estimated average ~6.0% NRI; expected to drive an increase in Diamondback-operated production from an average of approximately of 11,000 bo/d in 2025 to approximately 14,000 bo/d in 2026
    • Third party operated acreage located primarily in Martin, Midland, and Reagan counties; ExxonMobil (~35% of third party operated acreage) is the largest operator with diversified exposure to other leading well-capitalized operators in the Midland Basin
    • Substantial near and long-term financial accretion; expected to be >10% accretive to cash available for distribution per Class A share immediately upon closing
    • Each of the Pending Acquisitions has an effective date of January 1, 2025

    PRO FORMA VIPER HIGHLIGHTS

    • Giving effect to only the assumed closing of the Quinn Ranch Acquisition during Q1 2025, initiating average daily production guidance for Q1 2025 of 30,000 to 31,000 bo/d (54,000 to 56,000 boe/d)
    • Upon the assumed closing of the Drop Down during Q2 2025, expect average daily production for the balance of 2025 in the range of 47,000 to 49,000 bo/d (85,000 to 88,000 boe/d); the midpoint is approximately 61% higher than standalone Viper’s Q4 2024 average daily oil production
    • Based on Diamondback’s expected development plans, Viper expects its Diamondback-operated production to increase to approximately 31,000 bo/d in 2026, up from approximately 27,000 bo/d on a pro forma basis in 2025
    • Viper expects to own an interest in approximately 75% of the total amount of gross wells that Diamondback would plan to develop over the next five years at today’s activity levels; expect to own an estimated ~6.0% NRI in these wells
    • Total inventory of Diamondback-operated locations with a greater than 10% IRR at $50 WTI of approximately 334 net locations
    • Approximately 60,200 NRAs in the Permian Basin, approximately 36,300 of which are operated by Diamondback; represents increases of approximately 70% and 90%, respectively
    • Maintaining return of capital commitment of at least 75% of cash available for distribution
    • Conservative leverage of <1.0x expected at year-end 2025 based on current commodity prices

    “We are excited to announce today the highly anticipated, transformative Drop Down transaction between Viper and Diamondback. This transaction, combined with the Quinn Ranch Acquisition, furthers Viper’s alignment with Diamondback’s expected development plan and positions Viper to continue to deliver organic growth driven by the Diamondback drillbit for multiple years ahead. The pro forma size and scale provided to Viper, and the continued support of our parent company, meaningfully enhances the unmatched advantage Viper has in the minerals and royalty market,” stated Travis Stice, Chief Executive Officer of Viper.

    Mr. Stice continued, “In addition to being immediately accretive to all relevant financial metrics, this conservatively financed transaction also reduces Viper’s pro forma leverage to below 1.0x. Looking ahead, Viper’s leading scale and fortress balance sheet will enable the Company to continue to opportunistically consolidate the highly fragmented minerals market through a disciplined and focused approach.”

    Advisors

    Evercore is serving as financial advisor to the Audit Committee of Viper’s Board of Directors and Hunton Andrews Kurth LLP is serving as the Audit Committee’s legal advisor for the Drop Down.

    RBC Capital Markets is serving as financial advisor to Diamondback and Kirkland & Ellis LLP is serving as its legal advisor for the Drop Down.

    For the Quinn Ranch Acquisition, Akin Gump Strauss Hauer & Feld LLP is serving as Viper’s legal advisor and Vinson & Elkins LLP is serving as legal advisor for Morita Ranches Minerals LLC.

    About Viper Energy, Inc.

    Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the federal securities laws, which involve certain risks, uncertainties and assumptions that could cause the results to differ materially from those expected by the management of Viper. All statements, other than historical facts, that address activities that Viper assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events, including specifically the statements regarding the pending acquisitions discussed in this news release and any potential capital markets transactions and other funding sources for the pending acquisitions, as well as statements regarding the pro forma results for the pending acquisitions and Viper’s operating and financial expectations following those acquisitions, including existing and future production on the mineral and royalty acreage subject to the pending acquisitions and Diamondback’s plans with respect to such Diamondback-operated acreage.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: the completion of the pending acquisitions on anticipated terms and timing or at all, including obtaining the requisite regulatory and stockholder approvals for the Pending Drop Down, the satisfaction of other conditions to the pending acquisitions, uncertainties as to whether the pending acquisitions, if consummated, will achieve their anticipated benefits within the expected time periods or at all, and those risks described in Item 1A of Viper’s Annual Report on Form 10-K, filed with the SEC on February 22, 2024, subsequent Forms 10-Q and 8-K and other filings Viper makes with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Viper’s website at www.viperenergy.com/investor-overview, as well as those risks that will be more fully described in the definitive proxy statement on Schedule 14A that is intended to be filed with the SEC in connection with the Pending Drop Down.

    In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Viper conducts its business in a very competitive and rapidly changing environment and new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

    Additional Information about the Pending Drop Down and Where to Find It

    In connection with the Pending Drop Down, Viper expects to file relevant materials with the SEC including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, Viper will mail the definitive proxy statement to each stockholder entitled to vote at the special meeting relating to the Pending Drop Down. This news release is not a substitute for the proxy statement or for any other document that Viper may file with the SEC and send to its stockholders in connection with the Pending Drop Down. INVESTORS AND STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PENDING DROP DOWN THAT VIPER WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement, and other relevant materials in connection with the Pending Drop Down (when they become available) and any other documents filed by Viper with the SEC, may be obtained free of charge at the SEC’s website www.sec.gov. Copies of the documents filed with the SEC by Viper will be available free of charge on Viper’s website at www.viperenergy.com/investor-overview.

    Participants in the Solicitation

    Viper and its directors and executive officers, and Diamondback as its parent and major stockholder, may be deemed, under SEC rules, to be participants in the solicitation of proxies from Viper’s stockholders in connection with the Pending Drop Down. Information about the directors and executive officers of Viper and, as applicable, about Diamondback, is set forth in (i) in Viper’s proxy statement for its 2024 annual meeting, including under the headings “Proposal 1—Election of Directors”, “Executive Officers”, “Compensation Discussion and Analysis”, “Compensation Tables”, “Stock Ownership” and “Certain Relationships and Related Transactions,” which was filed with the SEC on April 25, 2024 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000119312524113976/d796418ddef14a.htm, (ii) Viper’s Annual Report on Form 10-K for the year ended December 31, 2023, including under the headings “Item 10. Directors, Executive Officers and Corporate Governance”, “Item 11. Executive Compensation”, “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and “Item 13. Certain Relationships and Related Transactions, and Director Independence”, which was filed with the SEC on February 22, 2024 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1602065/000160206524000010/vnom-20231231.htm and (iii) subsequent statements of changes in beneficial ownership on file with the SEC.

    Additional information about Diamondback may be found in Diamondback’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 22, 2024, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed by Diamondback with the SEC. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    Additional information regarding the participants in the proxy solicitation and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials filed with the SEC when they become available. These documents may be obtained free of charge from the SEC’s website at www.sec.gov and Viper’s website at www.viperenergy.com/investor-overview.

    No Offer or Solicitation

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

    Investor Contact:

    Austen Gilfillian
    +1 432.221.7420
    agilfillian@diamondbackenergy.com

    Source: Viper Energy, Inc.; Diamondback Energy, Inc.

    The MIL Network –

  • MIL-OSI USA: Schatz: Lee Zeldin Wrong Person To Lead EPA

    US Senate News:

    Source: United States Senator for Hawaii Brian Schatz
    Published: 01.29.2025

    WASHINGTON – U.S. Senator Brian Schatz (D-Hawai‘i) released the following statement after voting against Lee Zeldin’s nomination to be Administrator of the U.S. Environmental Protection Agency.
    “In just the last week, Donald Trump banned wind energy and stopped federal funding for clean energy projects – actions that will create an energy shortage and raise people’s energy bills. Republicans aren’t trying to cut costs for people – they’re focused on helping their Big Oil friends make money. And the person who will be leading these efforts for the Trump Administration, including to roll back critical environmental protections, is Lee Zeldin. Climate change is happening, and it’s costing billions and billions of dollars, and more importantly, it’s costing lives. We need an EPA Administrator who is for climate action, not Lee Zeldin.”

    MIL OSI USA News –

  • MIL-OSI Economics: Mission 300: African leaders pledge to advance clean cooking solutions for Africa at milestone Energy Summit

    Source: African Development Bank Group

    African countries have taken bold commitments to implement clean cooking energy solutions to offset the devastating effects of open fire cooking which kills roughly 600,000  women and children annually across the continent.

    In energy compacts signed during the Mission 300 Africa Energy Summit, held in Tanzania 27-28 January, 12 African countries signalled their intent to  accelerate the pace of access to electricity and clean cooking solutions on the world’s fastest-growing continent, in line with the United Nations’ Sustainable Development Goal 7 and the African Union’s Agenda 2063.

    Commending these countries, Tanzanian President Suluhu Hassan stated in closing remarks: “I understand that the 12 governments have only pioneered, and many others will join us in the future.” Earlier, at the opening speaking about the purpose of the summit she said, “This gathering is a platform to consolidate commitments, announce new partnerships and drive momentum towards the 2030 goal.”

    President Suluhu Hassan of Tanzania, global Clean Cooking ambassador at the Africa Energy Summit. January 2025

    The two-day meeting was organized by the Government of Tanzania and Mission 300, an unprecedented collaboration between the African Development Bank Group, the World Bank Group and global partners, to address Africa’s electricity access gap through the use of new technology and innovative financing.

    Moderating a special panel on clean cooking on Monday, Rashid Abdallah, Executive Director of the African Energy Commission (AFREC), noted that whilst 600 million Africans live without access to electricity, one billion -nearly double the number – were without access to clean cooking, relying on biomass fuels such as wood and charcoal, with severe economic, social and environmental impact. Conservative estimates put the cost of this across the continent to $790 billion a year, he noted.

    Abdallah was joined by Dr. Richard Muyungi, Special Envoy to the President of Tanzania, Peter Scott, CEO of Burn Manufacturing, and Martin Kimani, CEO of M-Gas, who each highlighted the significant health, environmental, and economic impacts of relying on polluting fuels for cooking, as well as the innovative approaches being developed to address this crisis.

    Muyungi shared Tanzania’s experience in launching a comprehensive National Clean Cooking Strategy, emphasizing the importance of high-level political commitment, coordinated stakeholder engagement, and the integration of private sector participation. 

    He praised President Hassan’s role as a global champion bringing the issue to the highest level of African governments.

    “It is important to elevate it to the highest level… She is the champion of clean cooking,” he said.  He stressed: “It’s important that there is a champion who can elevate clean cooking in terms of partnerships and partner with others to address this issue. He added that Tanzania is on track to transition 80 percent of its population to clean cooking technologies by 2034, thanks to the efforts of President Hassan.

    Scott, whose company Burn Manufacturing is the largest clean cooking manufacturer in Africa, discussed the diverse range of solutions being deployed across the continent, from fuel-efficient biomass stoves to cutting-edge electric cooking appliances with pay-as-you-go financing models. He stressed the availability of funding for clean cooking projects, pending the approval of carbon credit regulations by governments.

    Panel session on clean cooking at Mission 300 Africa Energy Summit. Tanzania, January 2025. (L-R ) Dr. Richard Muyungi, Special Envoy to the President of Tanzania, Martin Kimani, CEO,M-Gas,   Peter Scott, CEO of Burn Manufacturing, Rashid Abdallah ED, African Energy Commission (AFREC)

    “This is the most exciting time in the history of clean cooking,” Scott declared. “Now, there’s a lot of money standing by to approve carbon credit regulations to allow carbon trading, carbon finance, to grow. “

    Kimani’s pioneering pay-as-you-cook LPG model has provided an innovative and affordable solution to enable households to transition to clean cooking. He shared the success of M-Gas in onboarding half a million households in Kenya and Tanzania within just three years, demonstrating the scalability of this approach. “One of the most important considerations is affordability, how do we close that gap?” he asked.

    M-Gas has found an answer by installing IOT enabled smart meters which are fixed into gas cylinders without upfront payment.

    “We mirror the (pay as you go) environment they can now cook using LPG. With 35 cents they can cook three meals in a day,” he added.

    Tanzania pioneers clean cooking and global awareness

    Tanzania published its clean cooking strategy in 2024-2034 last year in response to its own challenges – 3,000 people dying annually and the effects of a devastating 400 hectares of deforestation annually from the use of charcoal and firewood.

    Championed by President Hassan, the Clean Cooking agenda has embraced everyone and is part of the national agenda, Muyungi said. “This discussion has highlighted the innovative approaches and the political will required to transform the lives of millions of Africans and secure a sustainable future for the continent.”

    In a recognition of national efforts, awards were handed out to winners of a national clean cooking innovation challenge on the first day of the summit. The winners included creators of a biogas production plant and a click gas LPG delivery system.

    Winners of a Tanzania national Clean Cooking Challenge received awards during the Africa Energy Summit held in Tanzania, January 2025. 

    The African Development Bank Group has pledged $2 billion over 10 years towards clean cooking solutions in Africa. The pledge represents an important contribution to the $4 billion per year needed to allow African families to have access to clean cooking by 2030.

    “Why should anybody have to die just for trying to cook a decent meal that is taken for granted in other parts of the world,” African Development Bank President Akinwumi Adesina asked during a discussion as part of the summit. “Africa must develop with dignity, with pride. Its women, its population must have access to clean energy solutions.”

    Winners of a Tanzania national Clean Cooking Challenge received awards during the Africa Energy Summit held in Tanzania, January 2025. 

    MIL OSI Economics –

  • MIL-OSI Banking: 🇮🇱 Zion Oil & Gas Update: January 30, 2025

    Source: Zion Oil and Gas

    Headline: Zion Oil & Gas Update: January 30, 2025

    January 30, 2025

    Dear Zion Shareholders and Supporters,

    We are pleased to bring you the latest update as we continue progressing toward the next critical phase of operations at our Megiddo-Jezreel #1 (MJ-01) well.

    As we have previously shared, logistical and geopolitical challenges necessitated an operational pause at the wellsite over recent months. Thankfully, we are preparing to launch our targeted re-completion work on the MJ-01 well in Q1 as expected. Our rig crew is informed and scheduled to arrive in Israel in the latter part of February to commence rig startup procedures. This includes minor repairs and maintenance, as well as drilling out the temporary plug that has been sealing MJ-01 during the pause. Once this work is complete, the team will focus on preparing both the location and the wellbore for the upcoming recompletion operation.

    While our crew carries out these preparations, the necessary stimulation, well testing, and nitrogen equipment will be transported from various locations in Europe to Israel. Based on current projections, we anticipate receiving this equipment on-site in March, subject to final availability and shipping schedules.

    Following equipment arrival, our plan is to proceed with rigging up, setting a bottom plug, and installing a swell plug, which is an essential step to isolate the targeted zone of interest. Once the plug has properly set, we will run in hole with the stimulation equipment, stimulate the zones, and initiate flowback operations.

    Flowback duration will depend on well response; if all key components come together as expected, we anticipate completing these operations in early Q2.

    While there are always variables in an operation of this nature, our team remains optimistic about the timeline and continues working diligently to achieve success.

    As always, we deeply appreciate your ongoing support and prayers. We remain steadfast in our mission and will continue to provide updates as we progress.

    Warm regards,
    Rob Dunn
    CEO
    Zion Oil & Gas, Inc.

    I waited patiently for the Lord; And He inclined to me and heard my cry.”
    Psalm 40:1 NASB

    “Then they said, “Let us arise and build.” So they put their hands to the good work.”
    Nehemiah 2:18b NASB

    MIL OSI Global Banks –

  • MIL-OSI: AI Visionary James Altucher: Elon Musk’s ‘Project Colossus’ Marks the Beginning of America’s AI Renaissance [Video Presentation]

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Renowned AI expert James Altucher has declared Elon Musk’s Project Colossus to be the “single most transformative leap forward in technology since the invention of the Internet.” In a video presentation, he explains that as the United States accelerates its efforts to maintain global dominance in artificial intelligence, Project Colossus stands as the cornerstone of this strategy. Developed by Musk’s xAI and headquartered in Memphis, Tennessee, the supercomputer’s immense computational power is driving innovation across medicine, energy, and national defense.

    Altucher, a 40-year veteran of emerging technologies, sees Project Colossus as a defining project of the decade. “This isn’t just about AI; this is about leveraging technology to solve humanity’s greatest challenges,” Altucher said. “From extending human lifespans to addressing global energy shortages, this project is putting the United States back on the map as the leader in technological innovation.”

    The Powerhouse of Innovation: Inside Project Colossus
    Located in an unassuming facility in Memphis, Project Colossus boasts over 100,000 Nvidia H100 GPUs, making it the most powerful supercomputer in the world. It has already surpassed global competitors in computational power, including projects from Google, OpenAI, and Microsoft. Plans are underway to double its capacity in 2025, further cementing its role as the foundation for America’s technological resurgence.

    The Hidden Powerhouse: The Role of a Critical Partner
    While Elon Musk and xAI take center stage, Altucher notes the importance of an often-overlooked technology company that powers Project Colossus. “This company provides the critical infrastructure that allows all of these advanced AI chips to function as a single, unified system,” Altucher revealed. “Without it, Musk’s vision for Project Colossus wouldn’t be possible. It’s the silent enabler behind this revolution.”

    Applications Across Industries
    Altucher highlights Project Colossus’s role in tackling some of America’s most urgent challenges:

    • Healthcare: Accelerating medical research and improving disease detection.
    • Energy: Optimizing energy grids to create sustainable systems.
    • Manufacturing: Boosting efficiency and reducing supply chain bottlenecks.
    • Defense: Strengthening national security through advanced AI-powered analytics.

    “This project is more than just an achievement in computing—it’s a foundation for solving problems that impact everyday Americans,” Altucher said.

    About James Altucher
    James Altucher of Paradigm Press Group is a leading authority on artificial intelligence and emerging technologies. With over four decades of expertise, Altucher has helped shape public understanding of transformative trends, making him one of the most trusted voices in the AI space.

    Media Contact:
    Derek Warren
    Public Relations Manager
    Paradigm Press Group
    Email: dwarren@paradigmpressgroup.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Union Minister for Coal and Mines Shri G. Kishan Reddy reviewed the Progress of NLCIL Projects at Chennai

    Source: Government of India

    Posted On: 30 JAN 2025 9:43PM by PIB Delhi

    The  Union Minister for Coal and Mines, Shri G. Kishan Reddy, held a review meeting of NLC India Limited (NLCIL) projects at Chennai today along with Smt. VismitaTej, Additional Secretary to Government of India, Ministry of Coal. Shri Prasanna Kumar Motupalli, CMD, NLCIL, Functional Directors and Senior officials of NLC India Limited were present in the review meeting.

    In his address Union Minister of Coal and Mines, Shri Kishan Reddy, highlighted the larger vision of the Prime Minister in creating a “Viksit Bharat” by 2047 as a part of which, reforms were being undertaken in the mining sector. He lauded NLCIL as one of the best performing Public Sector Companies in India. He appreciated the diversification of the company into renewable energy sector on a large scale, stating that it is the first PSU in the country to cross one(1) GW of renewable energy.

    The Minister appreciated the NLCIL’s foray into capacity addition in coal mining through its coal mines at Talabira, South Pachwara, North Dhadu, Machhakata and Patrapara. He also lauded NLCIL’s efforts in constructing 3 x 800 MW Thermal Power Project at Talabira which was inaugurated by Prime Minister. Coal Minister has also expressed his appreciation on NLCIL’s sincere efforts in Renewable Energy Capacity addition in large scale in states of Rajasthan, Assam and Andaman & Nicobar Islands and in other green initiatives. 

    The Minister pointed out that NLCIL was one of the oldest PSUs in the country, patronized and visited by several past National leaders including Presidents, Prime Ministers, VIPs, which continued even today.   He called upon NLCIL to explore avenues to boost tourism which had a lot of potential and scope for creating awareness among children and students.

    The Union Minister of Coal & Mines further informed that NLCIL management has been asked to explore the possibilities for implementation of enhanced Accident Insurance Cover scheme for the workers and employees of NLC India Limited, in a period of two months. The  Minister assured NLCIL of the fullest support and co-operation from the Coal Ministry and called upon the NLCIL family to continue its remarkable journey in its energy production, in line with vision of the Prime Minister Shri Narendra Modi. Noting that NLCIL was a pioneer in several CSR activities, he said that, NLCIL had a big, sprawling township in Neyveli consisting of more than one lakh population and three crore trees.

    On the occasion, the  Minister for Coal & Mines, Shri G. Kishan Reddy, virtually inaugurated a museum, aptly named “Parampariyam”, created at Neyveli by NLC India Limited. He also inaugurated a new Mobile App “NLCIL WINGS” and a new version of NLCIL Internet Website virtually.

    In line with the Special Campaign 4.0’s “Waste to Wealth” initiative by the Government of India, NLCIL had conceptualized, planned and created a Museum depicting the journey of NLCIL over the years since its inception in 1956. The museum, located in the heart of Neyveli Township, was created by transforming the erstwhile Doordarshan Kendra TV Relay Station building, constructed in the 1980s. The building, which was kept unused for years, was originally inaugurated by the legendary singer Bharat Ratna Late Smt. M.S.Subbulakshmi in 1984.The “Parampariyam” NLCIL Museum showcases vivid images, exhibits, photographs and artefacts chronicling the company’s history – from the discovery of peat in 1828, to the formation of NLCIL in 1956, and its remarkable growth over the decades.

    Speaking on the occasion, NLCIL CMD Shri Prasanna Kumar Motupalli said that the review of NLCIL’s projects and future plans was comprehensive with valuable guidance and inputs offered by the Union Minister on behalf of the Ministry of Coal. The unwavering support from the  Minister and the Ministry of Coal would help NLCIL in its future endeavours for a brighter, sustainable future.

    ****

    Sunil Kumar Tiwari

    (Release ID: 2097759) Visitor Counter : 32

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister of State for Power and New and Renewable Energy Shri Shripad Yesso Naik chairs the 1st meeting of Group of Ministers constituted for addressing issues related to viability of distribution utilities in the country

    Source: Government of India

    Union Minister of State for Power and New and Renewable Energy Shri Shripad Yesso Naik chairs the 1st meeting of Group of Ministers constituted for addressing issues related to viability of distribution utilities in the country

    Smart Meters to be the game changers

    SERCs/ State Government to ensure timely & cost reflective tariff – DISCOMs should get fair cost of electricity

    New technologies to be adopted by DISCOMs for optimising Power Purchase Cost & Demand forecasting

    Need for innovative financing and out of the box solutions from members

    Posted On: 30 JAN 2025 9:23PM by PIB Delhi

    Union Minister of State for Power and New & Renewable Energy Shri Shripad Yesso Naik, as chairperson of the Group of Ministers, held a virtual meeting here today with Group of Ministers constituted for addressing issues related to viability of distribution utilities. 

    Shri A. K Sharma, Energy Minister, Uttar Pradesh, Shri Gottipati Ravi Kumar, Energy Minister, Andhra Pradesh, Shri Pradyuman Singh Tomar, Energy Minister, Madhya Pradesh, Shri V Senthil Balaji, Minister of Electricity, Tamil Nadu, Smt Meghana Deepak Sakore Bordikar, Minister of State for Energy, Maharashtra and Shri Heeralal Nagar, Minister of State for Energy, Rajasthan who are the members of the Group attended the meeting. The meeting was also attended by senior officials from Central and State Government and officials from Power Finance Corporation Ltd.

    In his welcome address Energy Minister, Government of Uttar Pradesh, Shri Arvind Kumar Sharma, convenor of the Group, commended the measures taken by the Government of India for improving the operational efficiency and financial viability of the Distribution Utilities. He remarked that pro-active measures by Ministry of Power will have far reaching impact on making country’s distribution sector stronger and healthier. He advocated for adopting and investing in technology in the distribution sector. He emphasised on the need for timely and adequate payment of Government Department Dues and subsidy by the State Governments and effective redressal of consumer grievances.

    In his opening remarks, Union Minister highlighted that the financial viability of electricity distribution utilities, or DISCOMs lies at the heart of India’s energy sector and is very critical for the entire value chain. These entities are the lifeline of our electricity supply chain, connecting power generation to millions of homes, businesses, and industries. However, they face significant challenges that affect not only their financial health but also the sustainability of entire Power Sector value chain. He mentioned that year on year gap between the average cost of supply (ACS) and the average revenue realized (ARR) is eroding the financial stability of the Utilities which needs to be brought down. This gap is largely due to under-recovery of costs esp. power purchase costs, non-cost reflective tariffs, distribution losses, etc. He expressed concern about the AT&C losses which are far above the global average of 6–8% and the need to improve it by improving network, adopting new technologies and improving the billing and collection efficiency. He mentioned about the roles that each stakeholder should play in improving the viability of these utilities especially in the context of the investment required to cater to growing energy demand in the country. He further mentioned about the Gujarat DISCOMs and suggested to understand the steps taken by Gujarat distribution utilities to improve their financial performance.  

    Energy Minister, Government of Andhra Pradesh, Shri Gottipati Ravi Kumar mentioned about priority being given by the State Government for development of Renewable Energy. He also highlighted the progress made by the State under PM KUSUM and PM Surya Ghar: Muft Bijli Yojana.

    Energy Minister, Government of Madhya Pradesh, Shri Pradyuman Singh Tomar emphasised on the need for accurate energy accounting and auditing for reducing line losses and the need to have effective consumer grievance redressal mechanism at each level of Government.

    Electricity Minister, Government of Tamil Nadu, Thiru V.Senthil Balaji highlighted the reforms undertaken by the State Government and the role of Smart Metering in improving the revenues of the distribution utilities. 

    Minister of State (Energy), Government of Maharashtra, Smt. Meghana Deepak Sakore Bordikar mentioned about the initiative taken by the State under Mukhyamantri Saur Krushi Vahini Yojana which would help in improving quality of supply of power to farmers and reduce power purchase costs for utilities.

     Minister of State (Energy), Government of Rajasthan Shri Heeralal Nagar highlighted the rich renewable energy potential of the State and the projects taken by State under Hybrid Annuity Model for providing low cost day time supply of power for agricultural purposes.

    It was agreed that with rich experience of the group, innovative and out of the box solutions will be explored to steer the distribution sector on the path of financial viability. Also, it was agreed to convene further meetings in the member States.

    Group of Ministers on Viability of Distribution Utilities

    The Constitution of the GoM is as follows:

    1. Hon’ble Minister of State for Power and New and Renewable Energy, Govt. of India – Chairman
    2. Energy Minister, Uttar Pradesh- member-cum-convenor
    3. Energy Minister, Andhra Pradesh- member
    4. Energy Minister, Rajasthan- member
    5. Energy Minister, Tamil Nadu- member
    6. Energy Minister, Madhya Pradesh- member
    7. Energy Minister, Maharashtra- member

    The Terms of Reference (ToR) for the GoM are as under:

    1. Analyze debt scenario in key States
    2. Identify parameters that need to be monitored to ensure borrowings are productive
    3. Identify States that are in urgent need for liquidity support and design a fiscal discipline program to enable them to avoid a debt trap.
    4. Recommend guidelines for investment plan with respect to capital expenditure targeted at overall improvement – ensure adequate technical and financial due-diligence, equity investment by State Government, suitable mechanism for realization through tariff.
    5. Suggest measures for improvement in the overall health of the distribution sector to attract further investment from private participants in the value chain

    The GoM would submit its report in three months.

    ****

    JN/ SK

     

    (Release ID: 2097756) Visitor Counter : 69

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Meeting of Government with Leaders of Political Parties held today

    Source: Government of India (2)

    Meeting of Government with Leaders of Political Parties held today

    Meeting  attended by 52 Leaders from 36 political parties 

    Posted On: 30 JAN 2025 7:59PM by PIB Delhi

    A meeting was  held under the Chairmanship of Shri Raj Nath Singh, Union Minister of Defence with Leaders of political parties today (30th January, 2025) in Parliament House Complex, New Delhi to discuss issues relating to ensuing Budget Session of Parliament, 2025. The meeting was called by Shri Kiren Rijiju, Union Minister of Parliamentary Affairs. The meeting was also attended by Union Minister for Health & Family Welfare and Ministry of Chemicals & Fertilizers, Shri Jagat Prakash Nadda, who is also Leader of the House in Rajya Sabha, Minister of State (Independent Charge) of the Ministry of Law & Justice and Minister of State in the Ministry of Parliamentary Affairs, Shri Arjun Ram Meghwal and Minister of State in the Ministry of Parliamentary Affairs and Minister of State in the Ministry of Information and Broadcasting, Dr. L. Murugan.  In total, the meeting was attended by 52 Leaders from 36 political parties including Ministers.

    At the outset, Shri Rajnath Singh, Minister of Defence made introductory remarks and welcomed all the Leaders attending the meeting and thereafter, Minister of Parliamentary Affairs conducted the meeting. He informed the leaders that the Budget Session, 2025 of Parliament will commence on Friday the 31st January, 2025 and subject to exigencies of Government Business, the session may conclude on Friday the 4th April, 2025. During this period, both the Houses will be adjourned for recess on Thursday, the 13th of February, 2025 to reassemble on Monday, the 10th of March, 2025 to enable the Standing Committees to examine the Demands for Grants of various Ministries/Departments and make their Reports thereon. The Session will provide a total of 27 sittings (09 sittings in first part and 18 sittings in second part) spread over a period of 64 days.

    Shri Rijiju further stated that Session will mainly be devoted to the Financial Business relating to Union Budget for 2025-26 and discussion on the Motion of Thanks on President’s Address. However, essential Legislative and other Business will also be taken up during the Session. He mentioned that Economic survey of India and Union Budget for 2025-26 will be presented to Parliament on Friday, the 31st of January, 2025 and the Saturday, 1st February, 2025 respectively. He also informed that tentatively 16 items of legislative business and 3 items of financial business have been identified for being taken up during this session.

    The Minister of Parliamentary Affairs also stated that the Government is prepared and ready to discuss any other important issue on the floors of the Houses as per rules of both Houses. Leaders of different political parties expressed their views on various issues likely to be raised by them during the forthcoming Budget Session of Parliament and assured the Government to provide full co-operation. He also thanked all the Hon’ble Leaders for attending the meeting, expressing their views and for their active and effective participation.

    LIST OF BILLS LIKELY TO BE TAKEN UP DURING BUDGET SESSION, 2025

    I – LEGISLATIVE BUSINESS

    1. The Banking Laws (Amendment) Bill, 2024
    2. The Railways (Amendment) Bill, 2024
    3. The Disaster Management (Amendment) Bill, 2024
    4. The Oilfields (Regulation and Development) Amendment Bill, 2024
    5. The Boilers Bill, 2024
    6. The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024
    7. The Waqf (Amendment) Bill, 2024
    8. The Mussalman Wakf (Repeal) Bill, 2024
    9. The Bills of Lading Bill, 2024
    10. The Carriage of Goods by Sea Bill, 2024
    11. The Coastal Shipping Bill, 2024
    12. The Merchant Shipping Bill, 2024
    13. The Finance Bill, 2025
    14. The Protection of Interests in Aircraft Objects Bill, 2025
    15. The “Tribhuvan” Sahkari University Bill, 2025
    16. The Immigration and Foreigners Bill, 2025

    II – FINANCIAL BUSINESS

    1. Discussion and voting on Demands for Grants for the year 2025-26 and introduction, consideration and passing/return of the related Appropriation Bill.
    2. Discussion and voting on Second and Final Batch of Supplementary Demands for Grants for the year 2024-25 and introduction, consideration and passing/return of the related Appropriation Bill.
    3. Discussion and voting on Demands for Excess Grants for the year 2021-22 and introduction, consideration and passing/return of the related Appropriation Bill.

    *****

    SS/NSK

    (Release ID: 2097713) Visitor Counter : 50

    MIL OSI Asia Pacific News –

  • MIL-OSI: Enlight to Report Fourth Quarter and Full Year 2024 Financial Results on Wednesday, February 19, 2025

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Jan. 30, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, today announced it will release its financial results for the fourth quarter and full year ended December 31, 2024, before market open on Wednesday, February 19, 2025.

    Conference Call Information

    Enlight will host a conference call to review its financial results and business outlook at 8:00 AM ET on Wednesday, February 19, 2025. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by conference call or webcast:

    Conference Call

    Please pre-register to join by conference call:
    https://register.vevent.com/register/BI9b595c26a5dc4208953cad5b9bb5f4e8
    Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.

    Webcast

    Please register and join by webcast: https://edge.media-server.com/mmc/p/74sp8fv8

    The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

    About Enlight

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its US IPO (NASDAQ: ENLT) in 2023. Learn more at enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: Baker Hughes Secures Significant Gas Technology Order for Third Expansion Phase of Aramco’s Jafurah Gas Field

    Source: GlobeNewswire (MIL-OSI)

    • Contract awarded by Tecnicas Reunidas for six gas compression trains and six propane compressors, including balance of plants and auxiliaries
    • State-of-the-art technologies to support third expansion phase of the largest unconventional gas field in Saudi Arabia

    HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday it has been awarded an order by Tecnicas Reunidas for six gas compression trains and six propane compressors, for the third expansion phase of Aramco’s Jafurah gas field, located in the Kingdom of Saudi Arabia. The order was booked in the fourth quarter of 2024.

    Building on its broad experience in providing technology solutions for the entire natural gas value chain, Baker Hughes will supply state-of-the-art electric motor driven compression solutions, leveraging its recently expanded Damman Center in Dammam, Saudi Arabia. This order adds to Baker Hughes’ long-standing partnership with Aramco, which includes the supply of compression solutions for the Haradh and Hawiyah gas plants, first phase of the Jafurah gas plant and gas compression facilities, and more recently, equipment for the third phase of Saudi Arabia’s Master Gas System project.

    “Gas continues to serve as a vital source of reliable, abundant and lower-carbon energy,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “Our advanced gas compression technology will enable efficient and reliable production from the Jafurah field, further supporting Aramco’s vision and contributing to Saudi Arabia’s energy development.”

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Media Relations
    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com

    Baker Hughes Investor Relations
    Chase Mulvehill
    +1 346-297-2564
    investor.relations@bakerhughes.com

    The MIL Network –

  • MIL-OSI USA: DEQ issues six penalties in December for environmental violations

    Source: US State of Oregon

    tatewide, Ore. — The Oregon Department of Environmental Quality issued six penalties totaling $488,874 in December for various environmental violations. A detailed list of violations and resulting penalties is at https://ordeq.org/enforcement.

    Fines ranged from $5,050 to $372,600. Alleged violations included a wastewater treatment and disposal system that exceeded pollution limits and discharged wastewater to a creek when not permitted to, a hazardous waste treatment and disposal facility that failed to properly treat hazardous waste prior to disposing it and a fuel products transloading company that modified its facility and operated that change without authorization from DEQ.

    DEQ issued civil penalties to the following organizations:

    • Chemical Waste Management, Arlington, $49,200, hazardous waste.
    • City of Junction City, Junction City, $5,050, wastewater.
    • City of Lebanon, Lebanon, $33,800, wastewater.
    • Container Management Services, LLC, Portland, $21,224, hazardous waste.
    • HempNova Lifetech Corp., Central Point, $7,000, hazardous waste.
    • Zenith Energy Terminal Holdings, LLC, Portland, $372,600, air quality permitting. Learn more about this case by reading the press release DEQ issued on Dec. 6, 2024.

    Recipients of DEQ civil penalties must either pay the fines to the state treasury or file an appeal within 20 days of receiving notice of the penalty. They may be able to offset a portion of a penalty by funding a supplemental environmental project that improves Oregon’s environment. Learn more about these projects at https://ordeq.org/sep.

    Penalties may also include orders requiring specific tasks to prevent ongoing violations or additional environmental harm.

    DEQ works with thousands of organizations and individuals to help them comply with laws that protect Oregon’s air, land and water. DEQ uses education, technical assistance, warnings and penalties to change behavior and deter future violations.

    Media contact: Michael Loch, public affairs specialist, michael.loch@deq.oregon.gov, 503-737-9435.

    ###

    MIL OSI USA News –

  • MIL-OSI Economics: NEWS RELEASE: CanREA marks fifth anniversary with special industry data report

    Source: – Press Release/Statement:

    Headline: NEWS RELEASE: CanREA marks fifth anniversary with special industry data report

    Canada’s installed capacity of wind energy, solar energy & energy storage is now more than 24 GW, up by 46% in the last five years.

    Ottawa, January 30, 2025—The Canadian Renewable Energy Association (CanREA) is pleased to release a new, five-year industry data report announcing that Canada’s wind, solar and energy-storage sectors have grown by 46% in the last five years, with a new installed capacity of more than 24 GW at the end of 2024.

    CanREA released the report today as part of its five-year anniversary celebrations. Since the Association was launched in 2020, the industry increased its installed capacity by nearly 7.6 GW. This total includes more than 4.7 GW of new utility-scale wind, nearly 2 GW of new utility-scale solar, more than 600 MW of new on-site solar, and more than 200 MW of new energy storage.

    “Canada’s wind, solar and energy storage industry grew impressively over the past five years—and we expect to see significantly more growth in the next five years,” said Vittoria Bellissimo, CanREA’s President and CEO. “But this is not nearly enough. Canada has massive, untapped wind and solar resources that can and should be harnessed to provide the affordable, clean, scalable electricity needed in all jurisdictions.”

    In total, Canadian jurisdictions can expect to connect at least 10,000 MW of new wind, solar and storage by the start of 2030, according to CanREA’s Clean Energy Procurement Calendar.

    CanREA is also tracking another 5,000 MW that will come into service beyond that time frame, for a grand total of more than 15,000 MW of procurements that are either currently underway or being planned across the country. This represents more than $30B in investment.

    “This investment is crucial in establishing resilient, sustainable infrastructure that can support Canada’s economic and environmental ambitions,” said Bellissimo.

    “We have been calling on all provinces and territories to increase the pace of buildout in their jurisdictions, and we are pleased to see that many have answered the call. That said, we can do so much more. Every new wind, solar, and energy storage project brings us closer to a cleaner energy mix and a decarbonized grid,” said Bellissimo.

    Facts at a glance

    Canada’s total wind, solar and storage installed capacity grew 46% in the past 5 years (2019-2024), including nearly 5 GW of new wind, 2 GW of new utility-scale solar, 600 MW of new on-site solar, and 200 MW of new energy storage.

    Canada’s solar energy capacity (utility-scale and onsite) grew 92% in the past 5 years (2019-2024).

    Canada’s wind energy capacity grew 35% in the past 5 years (2019-2024).

    Canada’s energy storage capacity grew 192% in the past 5 years (2019-2024).

    Canada’s total wind, solar and storage installed capacity is now more than 24 GW, including over 18 GW of wind, more than 4 GW of utility-scale solar, 1+ GW on-site solar, and 330 MW energy storage.

    Canada now has 341 wind energy projects producing power across the country.

    Canada now has 217 major solar energy projects producing power across the country.

    There are now nearly 96,000 onsite solar energy installations across Canada.
    For more facts at a glance, see CanREA’s “By the Numbers” webpage.

    For more information

    To download a summary of CanREA’s latest industry data, visit CanREA’s “By the Numbers” webpage. CanREA members have access to a more detailed report on the members-only side of the website.

    Quotes

    “Canada’s wind, solar and energy storage industry grew impressively over the past five years—and we expect to see significantly more growth in the next five years—but this is not nearly enough. Canada has massive, untapped wind and solar resources that can and should be harnessed to provide the affordable, clean, scalable electricity needed in all jurisdictions.” 

    “This investment is crucial in establishing resilient, sustainable infrastructure that can support Canada’s economic and environmental ambitions, driving progress toward a net-zero future.”

     “We have been calling on all provinces and territories to increase the pace of buildout in their jurisdictions, and we are pleased to see that many have answered the call. That said, we can do so much more. Every new wind, solar, and energy storage project brings us closer to a cleaner energy mix and a decarbonized grid.”
    —Vittoria Bellissimo, President and CEO, Canadian Renewable Energy Association

    For media interview opportunities, please contact:

    Bridget Wayland, Senior Director of CommunicationsCanadian Renewable Energy Associationcommunications@renewablesassociation.ca

    About CanREA

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on X and LinkedIn. Subscribe to our newsletter here. Become a member here. Learn more at renewablesassociation.ca.
    The post NEWS RELEASE: CanREA marks fifth anniversary with special industry data report appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics –

  • MIL-OSI: ASUS Announces the Ultra-Light Zenbook A14, Now Available for Pre-Order in Canada

    Source: GlobeNewswire (MIL-OSI)

    KEY POINTS

    • Unload: Sub-1kg minimalist tone-on-tone all-Ceraluminum™ chassis for the ultimate on-the-go experience
    • Unplugged: Energy-efficient Snapdragon® X AI-enabled processor can deliver multi-working-day battery life
    • Unlimited: Optimum Copilot+ performance, user-centric design and seamless cross-device experiences

    TORONTO, Jan. 30, 2025 (GLOBE NEWSWIRE) — ASUS today announced that the Zenbook A14 (UX3407QA-DS52-CA) — the lightest 14-inch Copilot+ PC on the market1, and also the first all-Ceraluminum™ ASUS laptop, is now available for pre-order online on the ASUS Store, with shipments beginning on February 14th. It will also be available at select retailers starting February 14th, with additional configurations available later in the year. In addition to being the lightest 14-inch Copilot+ PC on the market2, the Zenbook A14 is also the first ASUS laptop boasting the new Qualcomm Snapdragon X® AI-enabled processor, offering extreme efficiency and up to 32 hours of battery life3.

    Unload: Redefining thin and light

    Weighing in at 990g (2.18lbs) – which is around 450g (1lb) less than most thin and light laptops4 – Zenbook A14 sets the new benchmark for ultraportable Copilot+ PCs. Its elegant, lightweight design is ideal for frequent travelers, allowing them to move effortlessly without being weighed down by their tech.

    The chassis is crafted entirely from our innovative Ceraluminum™, a sumptuously tactile material that’s 30% lighter and three times stronger than anodized aluminum. This advanced material ensures durability and portability, making it ideal for everyday use. The nature-inspired Iceland Gray colorway adds a sophisticated touch to the minimalist look, aligning with the Zenbook tradition of timeless design.

    Unplugged: Multi-day battery life

    Zenbook A14 delivers outstanding multi-day battery life, enabled by the power-efficient Qualcomm® Snapdragon™ X Series processor and a high-capacity 70Wh battery. It can provide up to 32 hours of continuous video playback on a single charge, ensuring no interruption over the course of multiple working days.

    The innovative thermal solution, featuring dual lightweight fans and a heat pipe, optimizes key component placement for quiet, effective cooling. With performance reaching up to 45W chipset power and a 0dB Whisper Mode for silent operation, the laptop offers exceptional power efficiency. Even when unplugged, Zenbook A14 delivers consistent performance with no drop in capabilities, making it the perfect travel companion for long flights, road trips, or meeting-packed days.

    Unlimited: A Copilot+ PC driven by the Qualcomm®Snapdragon™ X Series

    With a Qualcomm® Hexagon NPU (up to 45 TOPS) for AI tasks, Zenbook A14 offers advanced Copilot+ PC experiences, offering real-time insights, performance optimization, and enhanced responsiveness for multi-tasking and productivity. Users can expect seamless video playback, efficient app loading, and rapid task switching.

    Zenbook A14 comes with Microsoft Phone Link to allow users to connect their Android or iOS mobile phone to Windows. Additionally, it also comes with Qualcomm Snapdragon™ Seamless™ integration, which creates a cross-device ecosystem that allows users to switch between compatible Qualcomm® Snapdragon™-powered devices without interruption. It enhances productivity by enabling easy file sharing, screen mirroring, and synchronization between mobile devices and the laptop.

    Security is a top priority with smart privacy features, including Adaptive Lock and Adaptive Dimming to secure sensitive information when users step away from the laptop, and a Microsoft Pluton security chip for an additional layer of hardware protection. The Windows passkey feature offers an added layer of login security.

    Zenbook A14 also offers a refined user experience with an enlarged touchpad featuring Smart Gesture support for comfortable navigation, smudge-free keycaps on the well-spaced keys that have a comfortable 1.3mm travel, and a full suite of I/O ports that allows users to connect devices and peripherals without the need for adapters or dongles. The user-centric design also includes a precision-designed ASUS EasyLift™ hinge for stable, wobble-free screen opening and balanced weight distribution.

    For an immersive multimedia experience, the Zenbook A14 boasts a 14-inch WUXGA Lumina OLED NanoEdge display that delivers vibrant colors and deep contrasts, supported by two powerful speakers for rich audio output. Snapdragon Sound™ features High-Resolution Audio for rich, detailed 24-bit / 192kHz sound, ultra-low latency to ensure audio syncs seamlessly with visuals, and advanced noise cancelation to reduce background noise for clear voice calls and immersive audio.

    AVAILABILITY & PRICING

    The Zenbook A14 (UX3407QA-DS52-CA) powered by the Snapdragon™ X processor is available for pre-order now on the ASUS Store, with deliveries starting from February 14, 2025. More configurations will be available later in Q1.

    • Zenbook A14 (UX3407QA-DS52-CA), (beige) with 16GB of RAM and 512GB of storage for CA$1,299 at selected retailers and the ASUS Store, available for pre-order starting from today.
    • Zenbook A14 (UX3407QA-BS51-CB), grey version with 16GB of RAM and 1TB of storage for CA$1,449 in exclusivity on Best Buy and the ASUS Store, available starting from end of February 2025.
    • Zenbook A14 (UX3407QA-DS51-CA), grey version with 32GB of RAM and 1TB of storage for CA$1,649 at selected retailers and the ASUS Store, available later in Q1 2025.

    Please contact your local ASUS representative for further information.

    SPECIFICATIONS

    ASUS Zenbook A14 (UX3407) 

    Model UX3407QA-DS52-CA UX3407QA-BS51-CB UX3407QA-DS51-CA
    Marketing Name Zenbook A14
    Operating System Windows 11 Home
    Color Zabriskie Beige Iceland Gray Iceland Gray
    Material Magnesium Aluminum
    Weight 990g (2.18lbs)
    Dimensions 31.07 x 21.39 x 1.34 ~ 1.59 cm (12.23″ x 8.42″ x 0.53″ ~ 0.63″)
    Display OLED, 14″, 60Hz, 1920×1200, 100% DCI-P3
    Processor Qualcomm® Snapdragon™ X
    Graphics Qualcomm® Adreno™ GPU
    Memory 16GB LPDDR5X (on board) 16GB LPDDR5X (on board) 32GB LPDDR5X (on board)
    Storage 512 Gb PCIe 4.0 SSD (1 x M.2 2280 slot) 1 TB PCIe 4.0 SSD (1 x M.2 2280 slot) 1 TB PCIe 4.0 SSD (1 x M.2 2280 slot)
    Keyboard English Bilingual French English
    Webcam 1080 FHD IR Camera
    Wi-Fi Wi-Fi 6E + Bluetooth 5.3
    IO Ports 1 x USB 3.2 Gen 2 Type-A
    2 x USB 4.0 Gen 3 Type-C (DP, PD support) 
    1 x HDMI 2.1 (TMDS) 
    1 x 3.5 Audio Combo Jack
    Battery 70Whr
    AC Adapter Type-C, 65W AC Adapter, Output: 20V DC, 3.25A, 65W, Input: 100-240V AC 50/60GHz universal
    Availability ASUS Store and selected retailers, pre-order now ASUS Store and Best Buy, late February ASUS Store and selected retailers later in Q1
    MSRP C$1,299 C$1,449 C$1,649


    NOTES TO EDITORS

    ASUS Zenbook A14 (UX3407) Product Page: https://asus.com/ca-en/laptops/for-home/zenbook/asus-zenbook-a14-ux3407/

    ASUS Zenbook A14 ASUS Store Where to Buy Link: https://shop.asus.com/ca-en/zenbook-a14-ux3407-copilot-pc.html

    ASUS Zenbook Page: https://www.asus.com/ca-en/site/zenbook/

    ASUS LinkedIn: https://www.linkedin.com/company/asus/posts/

    ASUS Pressroom: http://press.asus.com

    ASUS Canada Facebook: https://www.facebook.com/asuscanada/

    ASUS Canada Instagram: https://www.instagram.com/asus_ca

    ASUS Canada YouTube: https://ca.asus.click/youtube

    ASUS Global X (Twitter): https://www.x.com/asus

    About ASUS

    ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, the company is world-renowned for continuously reimagining today’s technologies. Consistently ranked as one of Fortune’s World’s Most Admired Companies, ASUS is also committed to sustaining an incredible future. The goal is to create a net zero enterprise that helps drive the shift towards a circular economy, with a responsible supply chain creating shared value for every one of us.

    _____________________________________
    ¹ According to overall laptop weight, as of December 31, 2024 based on internal ASUS market analysis comparing Zenbook A14 (UX3407) with competing products in its class (laptops certified by Microsoft as Copilot+ PCs) from multiple vendors.
    ² According to overall laptop weight, as of December 31, 2024, based on internal ASUS market analysis comparing Zenbook A14 (UX3407) with competing products in its class (laptops certified by Microsoft as Copilot+ PCs) from vendors including Acer, Apple, HP, Huawei, Lenovo, Microsoft and Samsung.
    ³ Battery tests conducted by ASUS on August 7, 2024, using the 1080p Video Playback scenario. Test configuration: Zenbook A14 (UX3407), FHD OLED panel, Qualcomm Snapdragon X CPU, 1TB SSD, 32GB RAM. Test settings: WiFi enabled but disconnected (not connected to any access point), Windows Power Plan set to Balanced, display brightness set to 150cd/m2. Actual battery life may vary depending on product configuration, usage, operational conditions and power management settings. Battery life will decrease over the lifetime of the battery.
    ⁴ The 15-inch Apple Macbook Air (M3 chip) is 3.3 lbs. The 14-inch Lenovo Slim 7i Aura Edition is 2.84 lbs. The 13.8-inch Microsoft Surface 7th Edition is 2.96 lbs.

    A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/93149c0f-c652-42c7-a4ac-03d1b2c752fe

    The MIL Network –

  • MIL-OSI Security: IAEA Sees Operational Safety Commitment at Novovoronezh Nuclear Power Plant in Russia

    Source: International Atomic Energy Agency – IAEA

    An International Atomic Energy Agency (IAEA) team of experts said that the operator of the Novovoronezh Nuclear Power Plant (NPP) in the Russian Federation has shown a commitment to enhancing operational safety.

    Requested by the Government of the Russian Federation, the Operational Safety Review Team (OSART) mission ran from 13 to 30 January. The Team reviewed operational safety in Units 4 and 6 of the Novovoronezh NPP. An OSART mission was previously completed for Unit 5 in 2015.

    OSART missions independently assess safety performance against the IAEA’s safety standards. The aim is to advance operational safety by proposing recommendations and, where appropriate, suggestions for improvement.

    The Novovoronezh NPP is located in the Voronezh region, about 600 kilometres south of Moscow. The plant is owned by State Atomic Energy Corporation Rosatom (ROSATOM) and operated by Novovoronezh NPP, a subsidiary of the Rosenergoatom Joint Stock Company. The plant consists of seven units. Units 1, 2 and 3 are permanently shutdown and under decommissioning. Units 4, 5, 6 and 7 are operating. All units are pressurized water reactors (VVERs); Units 4 and 5 are VVER-V179 (417 MWe) and VVER-187 (1000 MWe), respectively. Units 6 and 7 are both VVER-392M (1180 MWe). Russia has 36 nuclear power reactors in operation, providing almost 20 per cent of the country’s total electricity production.

    The team reviewed operating practices in Units 4 and 6 in the areas of leadership and management for safety, training and qualification, operations, maintenance, technical support, radiation protection, chemistry and accident management. The team was composed of seven experts from Belarus, Brazil, China, the Islamic Republic of Iran and South Africa, as well as four IAEA staff members and an observer from Russia.

    To make its assessment, the team reviewed documents from the Novovoronezh plant on its main technical features, staff organization and responsibilities, and its operational programmes, procedures and performance prior to the mission. During the mission, the team observed the plant in operation, examined indicators of its performance and held in-depth discussions with plant personnel.

    The OSART team observed that the staff at the plant are knowledgeable and professional and are committed to improving the operational safety and reliability of the plant.

    The team identified one good practice to be shared with the nuclear industry globally:

    • The main control room operators at Novovoronezh NPP have access to an electronic display for real-time indication of hydrogen ignition risk inside the containment building in the case of a severe accident.

    The mission also provided some suggestions to further improve safety, including that the plant should consider enhancing:

    • The consistent use of tools to minimize human error.
    • The quality of maintenance activities.
    • The arrangements for the monitoring and reporting of equipment condition and material deficiencies to ensure that any degradation is identified and reported.

    “We are grateful to the international experts of the IAEA for conducting a comprehensive inspection at two power units of the Novovoronezh NPP – Unit 4 and Unit 6. This is a reputable team with over 282-years combined operational experience in the nuclear power industry. According to the mission results, the plant received suggestions to enhance further the operational safety performance of Units 4 and 6,” said Vladimir Povarov, Director of Novovoronezh NPP. “The mission confirmed that there was good alignment between the plant practices and the requirements in the IAEA standards.”

    “Three of the four Novovoronezh NPP power units in operation have already successfully undertaken an IAEA international peer review. And we plan for power Unit 7 to be subjected to this procedure in the future,” Povarov added.

    The team provided a draft report of the mission to the plant management. They will have the opportunity to make factual comments on the draft. These comments will be reviewed by the IAEA, and the final report will be submitted to the Government within three months.

    Background

    General information about OSART missions can be found on the IAEA website. An OSART mission is designed as a review of programmes and activities essential to operational safety. It is not a regulatory inspection, nor is it a design review or a substitute for an exhaustive assessment of the plant’s overall safety status.

    Follow-up missions are standard components of the OSART programme and are typically conducted within two years of the initial mission.

    The IAEA Safety Standards provide a robust framework of fundamental principles, requirements and guidance to ensure safety. They reflect an international consensus and serve as a global reference for protecting people and the environment from the harmful effects of ionizing radiation.

    MIL Security OSI –

  • MIL-OSI Global: Rachel Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough

    Source: The Conversation – UK – By Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City St George’s, University of London

    Go My Media/Shutterstock

    After six months of talking down the economy and warning of tough times ahead, the UK chancellor Rachel Reeves has changed her tune. She is now much more optimistic about Britain’s economic prospects and has announced a raft of measures including major pension reforms designed to unlock cash to boost growth and productivity.

    But Labour’s political problem is that none of her plans will have an immediate impact on the UK’s anaemic growth rate – the economy has virtually flatlined for the last six months. From day one Reeves has put growth at the centre of her plans, and a lack of it will mean tough choices in the spring, when she must spell out government spending plans for the next three years.

    The government is focusing on a wide range of “supply side” reforms, including unleashing pension funds to invest in Britain, as well as relaxing the planning system and building infrastructure – many of which have an uncanny resemblance to measures once proposed by former prime minister Liz Truss.

    At the heart of these plans is a big increase in investment in infrastructure to boost productivity – things like roads, public transport and technology – where Britain lags behind its major rivals.

    But there’s a big catch. The independent spending watchdog, the Office for Budget Responsibility (OBR), estimates that it will take years – or even decades – for infrastructure projects to transform the British economy, with only a 0.1% boost in growth in the near term for every additional 1% on public investment.

    Without other measures that have a more immediate impact, the political risk to Labour is that its pledge to make everyone better off may feel hollow to voters.

    The challenges are particularly acute for big transport projects, as the debacle of HS2 illustrates. Even with changes to the planning system, work on expanding Heathrow airport is unlikely to start before 2030. And major projects like the Lower Thames crossing between Kent and Essex and the Sizewell C nuclear reactor in Suffolk have been in the planning stage for nearly 20 years.

    Electricity supply is another crucial area, with the need for more renewable energy and an expansion of the grid. This will now need to be financed largely by private capital as the government has scaled back its “green new deal”.

    So how exactly will all these big plans be financed? The government is hoping to unleash additional investment from the UK pension fund industry, by changing the rules to allow defined benefit (sometimes called final salary) schemes with surpluses to invest more widely.

    Although there is currently £160 billion available in these schemes, this could change if interest rates fall. It is also not clear how attractive such UK infrastructure investment would even be. Many projects, such as in privatised industries like water and electricity, will at least partly be funded by increased charges to consumers.

    The government’s own spending plans to increase public investment are relatively modest. These plans bring government capital spending (which allows for borrowing under the fiscal rules) just slightly above the historic average.

    Planning reform could also prove problematic. Although the government is changing some of the rules, especially in relation to housebuilding, planning decisions will be still made by local authorities. In many cases these will face strong local opposition, potentially delaying decisions.

    This points to the larger political problem for the government. The changes will not eliminate the tension between the government’s growth and environmental objectives, with the latter potentially a crucial issue in many of the marginal seats won by Labour in the last election.

    Heathrow expansion will put the government’s climate targets in serious jeopardy.
    Dinendra Haria/Shutterstock

    Prime Minister Keir Starmer has described the need to pull out the “weeds” of regulation as vital to growth plans. He has already sacked the head of the key regulatory agency, the Competition and Markets Authority. But allowing more consolidation of British industry could create monopolies, which tend to raise prices, increase profits and neglect investment.

    There are even greater concerns over possible deregulation of the financial sector, which could abolish many of the safeguards established after the global financial crisis in 2008.

    What’s missing?

    The government is much less clear on what it is going to do about the supply of skilled labour than the availability of capital. Shortages of skilled workers could limit progress on these big infrastructure projects if workers are also needed to build housing.

    Government plans for boosting skills training, and the funding for further and higher education, are still works in progress. Meanwhile, limits on immigration will reduce the number of skilled construction workers. And the details of the government’s plan to boost the labour force by getting more people on disability benefit back to work have yet to be spelled out.

    As Labour sets out its long-term growth plan, dark clouds are looming. In particular, in global terms the British economy is one of the most dependent on international trade and investment. But most of its trade is with its two largest trading partners – the EU and the USA.

    Growing protectionism in the US, coupled with a lack of access to EU markets caused by Brexit, could have a significant effect on Britain’s growth. The UK economy is projected by the IMF to grow by just 1.6% this year, which is still weak by historic standards.

    It may be of little consolation to the public if this is higher than in France and Germany. Reeves may well find that’s simply not enough to satisfy the expectations of voters.

    Steve Schifferes does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Rachel Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough – https://theconversation.com/rachel-reeves-route-to-economic-growth-is-a-slow-one-and-there-are-no-guarantees-voters-will-be-patient-enough-248690

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Abortion statists reveal horrific rise

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV leader Jim Allister:

    “The abortion statistics published today by the Department of Health are deeply troubling. They show that the number of abortions being carried out in Northern Ireland increased by a shocking 28.8% since the previous year, with 2,792 performed in 2023/24 compared with  2,168 in 2022/23. If one goes back further the rise is even more stark. In 2020/21 the figure was 1,574 meaning there has been an increase of over 77% when compared with today’s figures.

    “While I welcome the increase in the volume of data published by the Department, I note that the information continues to fall well short of the information released by health authorities in Great Britain. In GB the socioeconomic background of the mother, whether she has had more than one abortion and other information is available but not in Northern Ireland. I received an assurance from the then Minister in 2024 that this situation would change. Why hasn’t it?”

    TUV MLA Timothy Gaston added:

    “I have been pressing Minister Nesbitt on issues related to abortion since becoming the Member for North Antrim and tellingly he has been less than forthcoming with responses. It is time that Northern Ireland had a properly informed debate about this issue. When the public were given an opportunity to have their say in response to an NIO consultation a massive 79% of the 21,200 responses to the consultation recorded their opposition to the abortion regulations. In spite of what some in the media may try to claim, there is still considerable opposition to abortion in Northern Ireland and there will be many who will share my alarm at the growth in the number of abortions in our Province.

    “It is clear from today’s figures that abortion is increasingly becoming just another form of birth control in Northern Ireland and that the dishonest debate around the matter in the early 2020s, framed around “hard cases”, did not deal with the real issues created by the legislation imposed on Northern Ireland.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: TUV meet American Consul to Northern Ireland

    Source: Traditional Unionist Voice – Northern Ireland

    Jim Allister KC MP, Timothy Gaston MLA and Dr Dan Boucher from the TUV met the American Consul General James Applegate and Political-Economic Chief Dori Winter to Northern Ireland on Thursday 30 January in Ballymena.

    Mr Allister said:

    “We were delighted to meet the Consul and Deputy Consul.

    “Having expressed our condolences following the tragic events in Washington DC overnight, we talked about both the constitutional and economic implications of the Irish Sea border and particularly its implications for the United Kingdom’s relationship with the United States and its implications on a possible UK-US trade deal.

    “Constitutionally, we impressed upon our friends the impact of what has been the biggest reversal in democracy in the western world, with the disenfranchisement of the people of Northern Ireland in 300 areas of law, and our subjection to the law of a foreign Parliament that we don’t make and cannot change, and the consequences of the European Union’s attendant intervention to undermine cross community consent at Stormont.

    “Economically, we explained  how the dependence of Northern Ireland, as a fully integrated part of the UK economy, on receipt of economic inputs from Great Britain, means that rather that providing us with the best of both worlds, the Irish Sea border is undermining and damaging those parts of the Northern Ireland economy that sit beyond the service sector, (to which the Protocol does not apply), especially manufacturing.

    “We also reflected on the forthcoming 250th anniversary of the American Declaration of Independence on 4th July 2026 and on the critical role played by Ulster Scots from Northern Ireland in laying the foundation for the United States.”

    MIL OSI United Kingdom –

  • MIL-OSI Global: Rachael Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough

    Source: The Conversation – UK – By Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City St George’s, University of London

    Go My Media/Shutterstock

    After six months of talking down the economy and warning of tough times ahead, the UK chancellor Rachel Reeves has changed her tune. She is now much more optimistic about Britain’s economic prospects and has announced a raft of measures including major pension reforms designed to unlock cash to boost growth and productivity.

    But Labour’s political problem is that none of her plans will have an immediate impact on the UK’s anaemic growth rate – the economy has virtually flatlined for the last six months. From day one Reeves has put growth at the centre of her plans, and a lack of it will mean tough choices in the spring, when she must spell out government spending plans for the next three years.

    The government is focusing on a wide range of “supply side” reforms, including unleashing pension funds to invest in Britain, as well as relaxing the planning system and building infrastructure – many of which have an uncanny resemblance to measures once proposed by former prime minister Liz Truss.

    At the heart of these plans is a big increase in investment in infrastructure to boost productivity – things like roads, public transport and technology – where Britain lags behind its major rivals.

    But there’s a big catch. The independent spending watchdog, the Office for Budget Responsibility (OBR), estimates that it will take years – or even decades – for infrastructure projects to transform the British economy, with only a 0.1% boost in growth in the near term for every additional 1% on public investment.

    Without other measures that have a more immediate impact, the political risk to Labour is that its pledge to make everyone better off may feel hollow to voters.

    The challenges are particularly acute for big transport projects, as the debacle of HS2 illustrates. Even with changes to the planning system, work on expanding Heathrow airport is unlikely to start before 2030. And major projects like the Lower Thames crossing between Kent and Essex and the Sizewell C nuclear reactor in Suffolk have been in the planning stage for nearly 20 years.

    Electricity supply is another crucial area, with the need for more renewable energy and an expansion of the grid. This will now need to be financed largely by private capital as the government has scaled back its “green new deal”.

    So how exactly will all these big plans be financed? The government is hoping to unleash additional investment from the UK pension fund industry, by changing the rules to allow defined benefit (sometimes called final salary) schemes with surpluses to invest more widely.

    Although there is currently £160 billion available in these schemes, this could change if interest rates fall. It is also not clear how attractive such UK infrastructure investment would even be. Many projects, such as in privatised industries like water and electricity, will at least partly be funded by increased charges to consumers.

    The government’s own spending plans to increase public investment are relatively modest. These plans bring government capital spending (which allows for borrowing under the fiscal rules) just slightly above the historic average.

    Planning reform could also prove problematic. Although the government is changing some of the rules, especially in relation to housebuilding, planning decisions will be still made by local authorities. In many cases these will face strong local opposition, potentially delaying decisions.

    This points to the larger political problem for the government. The changes will not eliminate the tension between the government’s growth and environmental objectives, with the latter potentially a crucial issue in many of the marginal seats won by Labour in the last election.

    Heathrow expansion will put the government’s climate targets in serious jeopardy.
    Dinendra Haria/Shutterstock

    Prime Minister Keir Starmer has described the need to pull out the “weeds” of regulation as vital to growth plans. He has already sacked the head of the key regulatory agency, the Competition and Markets Authority. But allowing more consolidation of British industry could create monopolies, which tend to raise prices, increase profits and neglect investment.

    There are even greater concerns over possible deregulation of the financial sector, which could abolish many of the safeguards established after the global financial crisis in 2008.

    What’s missing?

    The government is much less clear on what it is going to do about the supply of skilled labour than the availability of capital. Shortages of skilled workers could limit progress on these big infrastructure projects if workers are also needed to build housing.

    Government plans for boosting skills training, and the funding for further and higher education, are still works in progress. Meanwhile, limits on immigration will reduce the number of skilled construction workers. And the details of the government’s plan to boost the labour force by getting more people on disability benefit back to work have yet to be spelled out.

    As Labour sets out its long-term growth plan, dark clouds are looming. In particular, in global terms the British economy is one of the most dependent on international trade and investment. But most of its trade is with its two largest trading partners – the EU and the USA.

    Growing protectionism in the US, coupled with a lack of access to EU markets caused by Brexit, could have a significant effect on Britain’s growth. The UK economy is projected by the IMF to grow by just 1.6% this year, which is still weak by historic standards.

    It may be of little consolation to the public if this is higher than in France and Germany. Reeves may well find that’s simply not enough to satisfy the expectations of voters.

    Steve Schifferes does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Rachael Reeves’ route to economic growth is a slow one – and there are no guarantees voters will be patient enough – https://theconversation.com/rachael-reeves-route-to-economic-growth-is-a-slow-one-and-there-are-no-guarantees-voters-will-be-patient-enough-248690

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Celebratory event to mark success of Clean Heat Streets project in Rose Hill

    Source: City of Oxford

    Oxford residents are invited to join a celebration marking the successful completion of the Clean Heat Streets project in Rose Hill. 

    The innovative Clean Heat Streets project aimed to support Rose Hill and Iffley households in transitioning from polluting gas boilers to energy-saving, sustainable heat pumps.  

    Unlike traditional boilers that burn gas to produce heat, heat pumps use electricity to extract heat from the air outside, providing an efficient and sustainable alternative. 

    With buildings accounting for around 60% of Oxford’s carbon emissions—25% of which come from homes—retrofitting measures like heat pumps are key for reducing emissions. 

    Key Outcomes 

    Over two years, the Clean Heat Streets project installed 31 heat pumps in Rose Hill homes, saving an estimated 43,400kg of carbon dioxide per year. The project also tested the feasibility of installing multiple heat pumps in the same neighborhood without overloading the local electricity network. 

    Residents were offered discounted heat pumps and personalised support throughout the installation process, making the switch easier and more affordable. 

    Insights and lessons from the Clean Heat Streets project will be used by the Council to inform its future approach to retrofit across the city. 

    About the event 

    The event, which will take place at Rose Hill Community Centre on Friday 31 January, will celebrate the achievements of the project, as well as a chance to discuss the lessons learned and the next steps. There will be talks, discussion, an opportunity to visit a heat pump at a Clean Heat Street installee’s home, as well as stalls, food and fun and games.  

    The event will consist of two sessions:  

    First Session (2:15 pm – 4:10pm) This session will welcome Oxford residents, heat pump professionals, academics, and representatives from the Department for Energy Security and Net Zero together with representatives from Oxford City Council and Oxfordshire County council. It will include talks from the project team about the project and key learnings, followed by a Q&A session.  

    Home tours (4:15 pm – 5:00 pm) Participants will have the opportunity to visit homes in Rose Hill where heat pumps have been installed through the project.  

    Second Session (5:15 pm – 8:00 pm) This session is for residents and will include talks from the Clean Heat Streets team outlining the next steps for the project in Oxford, as well as a meal, and interactive workshop where visitors can explore and share their thoughts on energy-saving strategies and heat pumps. The event will end with a home energy quiz.  

    More information about the event can be found on Eventbrite.  

    About Clean Heat Streets 

    The Clean Heat Streets project is a consortium consisting of Samsung, Oxford City Council, University of Oxford, Oxford Brookes University, Oxfordshire County Council, Rose Hill and Iffley Low Carbon, Scottish and Southern Electricity Networks (SSEN), GenGame, Passiv UK, and Alto Energy.     

    The project is funded by the Heat Pump Ready Funding Programme delivered by the Department for Energy Security and Net Zero. The Heat Pump Ready Programme makes up part of the BEIS’ £1 billion Net Zero Innovation portfolio, which aims to promote the uptake of clean energy technologies until 2040. 

    Comment

    “I am delighted that we are holding this event to mark the end of the successful Clean Heat Streets project. I want to thank all our partners who helped to make this project a success, and the 31 households in Rose Hill who worked with us to explore this new approach to heat pump installations. We will be continuing to explore how we can support residents across the city with adopting this technology.” 

    Councillor Anna Railton, Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council

    “My boiler was getting old and needed replacing. I’m very happy with my heat pump. It keeps the house warm and the water hot, even through the cold winter.”
    Trevor Williams, Clean Heat Streets participant, who lives on Spencer Crescent

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Greece: Staff Concluding Statement of the 2025 Article IV Consultation Mission

    Source: International Monetary Fund

    January 30, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Greece’s near-term economic outlook remains favorable, with real GDP sustaining its robust expansion. The public finances have further improved, with the public debt-to-GDP ratio on a firm downward trajectory, amid continued fiscal consolidation supported by strong progress in reducing tax evasion. Continuing the reform momentum will establish a solid foundation to address remaining crisis legacies and structural challenges arising from the rising yet still low level of overall investment, an unfavorable demographic outlook, and sluggish productivity growth. The right policy mix aimed at continuing fiscal consolidation in a growth-friendly manner, implementing ambitious reforms to address supply-side structural impediments, and further strengthening financial system resilience is essential to achieve sustainable growth in the medium to long term, while ensuring fiscal sustainability and safeguarding financial stability.

    Robust Expansion with Declining Debt

    1. The economy maintained its robust growth in 2024, supported by strong domestic demand. Real GDP expanded by 2.3 percent (year-on-year; y/y) in the first three quarters, buoyed by a strong pickup in NGEU-funded investment projects and robust private consumption underpinned by rising real income. The unemployment rate fell to 9.5 percent (seasonally adjusted) in 2024Q3, a historic low since 2009, and the vacancy rate has risen, reflecting labor shortages in a few sectors, particularly construction, tourism-related services, and high-skill sectors. The labor force participation rate has also gradually risen but remains among the lowest in EU, especially for women. Disinflation is underway at a gradual pace with headline and core inflation at 2.9 and 3.4 percent (y/y) in end-2024, respectively, amid persistent services inflation and wage growth. Along with strong economic activity, credit growth to the private sector has accelerated to 9.4 percent (y/y) in 2024Q4, accompanied by a continued increase in residential real estate prices. High domestic import demand, driven by investment, also contributed to the widening of the current account deficit to an estimated 6.9 percent of GDP in 2024.

    2. Continued fiscal consolidation and sustained progress in much-needed structural reforms have strengthened the public finances, growth potential, and energy security. By end-2024, the public debt-to-GDP ratio is estimated to have decreased by more than 50 percentage points from its peak in 2020, supported by strong growth, high inflation, and substantial fiscal consolidation. While the labor tax wedge has been reduced by about 4½ percentage points since 2019, tax revenue has remained buoyant due to the authorities’ strong progress in reducing tax evasion. The abolishment of substantial pension penalties for retirees re-entering the labor market significantly increased the number of working pensioners in 2024. Following the significant expansion of solar and wind capacity in recent years, renewable sources now account for about 50 percent of total electricity generation.

    3. The banking system has further enhanced its resilience with improved asset quality and capital adequacy. Asset quality in systemically important banks has improved further, with the NPL ratio dropping to around 3 percent in 2024Q3, facilitated by a government-sponsored securitization framework. Banks sustained high profits, which, along with capital instrument issuances, have boosted capital adequacy, although there is room for a further strengthening of voluntary capital buffers. The capital quality needs to be further improved as Deferred Tax Credit (DTC) still represents a substantial share of prudential capital. Given repayment of the Targeted Longer-Term Refinancing Operations (TLTROs) and meeting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) targets, liquidity and funding risks have been markedly reduced, with buffers well above prudential requirements and the EU average.

    4. Real GDP growth is projected to remain high at 2.1 percent in 2025, before moderating in the medium term. Investment will continue to be a key driver, supported by NGEU-funded projects. Private consumption growth will remain solid, underpinned by favorable employment and income growth. With stabilizing global energy prices, headline inflation is expected to resume its downward trend, while core inflation will be more persistent due to services inflation and wage growth. With NGEU funding set to expire against the backdrop of demographic headwinds and sluggish productivity growth, GDP growth is forecast to moderate to lower levels around 1¼ percent in the medium term. The current account deficit is expected to narrow gradually below 4 percent of GDP in the medium term, as imports are expected to slow along with the winding down of NGEU-funded investment.

    5. Risks to the growth outlook are balanced, while those to inflation are tilted upward. Potential headwinds include the growth slowdown in major euro area countries, a deterioration of regional conflicts, and global policy uncertainty. The acceleration of ambitious structural reforms could further improve growth prospects. Stronger and more persistent-than-expected wage growth could further fuel services inflation, potentially exacerbated by fluctuations in global and regional energy prices.

    Growth-friendly Fiscal Consolidation

    6. Continued fiscal consolidation would further strengthen public debt sustainability. The primary surplus is expected to remain high at around 2½ percent of GDP in 2025 as reduced revenue from an additional cut in social security contributions is expected to be broadly offset by revenue gains from reforms aimed at reducing tax evasion and increasing tax compliance. With the primary surplus remaining high at 2.3 percent of GDP in the medium term, the public debt-to-GDP ratio is projected to decrease further by about 25 percentage points to below 130 percent by 2030.

    7. Additional expenditure measures that raise efficiency would further strengthen Greece’s public finances. Continued reforms are necessary to enhance efficient public investment planning and management, including through further strengthening centralized coordination and procurement. It is essential to protect non-pension social spending, such as healthcare and education, to promote inclusive growth, while enhancing efficiency. Excessive increases in pensions and public-sector wages should be resisted by implementing recent reforms, for example by ensuring that pension increases adhere to the established indexation formula without ad hoc adjustment.

    8. There is room for additional revenue-enhancing reforms to further reduce tax evasion while enhancing the progressivity of the tax system. The Independent Authority for Public Revenue’s new medium-term strategy presents a good opportunity to further modernize tax administration and increase tax collection by continuing to leverage digitalization, which also reduces the burden of compliance. Tax policy reforms should focus on broadening the tax base and increasing tax progressivity. Additionally, inefficient tax expenditures, particularly the regressive VAT exemptions on some goods and services, should be phased out. The authorities should also consider raising carbon pricing, particularly in the transport and industry sectors, which can generate revenue for improved social protection and help address climate change and energy security by sharpening market incentives.

    9. Fiscal space created by additional measures or better-than-expected performance should be used for debt reduction as well as crucial social and capital spending. While public debt remains high, there are significant infrastructure investment needs, especially for energy security and in support of the green transition. The authorities should also consider enhancing support for crucial social expenditures, such as healthcare, and education with increased targeting toward the poor and vulnerable to promote inclusive growth.

    Structural reforms for boosting potential growth

    10. Comprehensive reforms to address structural supply-side impediments would increase productivity and medium-term growth prospects.

    • Raising labor force participation and ensuring a better skilled workforce. Increasing the availability of childcare and elderly care facilities can enable women to engage more productively in the economy. Reducing the still high tax wedge, coupled with appropriate job search and phasing out certain features of the unemployment benefit within the eligibility period, can enhance work incentives. Upgrading and scaling up the lifelong learning system with effective private sector participation, particularly in digital and green skills, as well as healthcare, can reduce skill mismatches and help alleviate bottlenecks for youth and female employment.
    • Accelerating regulatory reforms. Further reducing the regulatory burden and barriers to entry for firms, particularly in the services sector, would foster competition, increase productivity, and promote investment. Promoting business dynamism and fostering robust job creation are essential for effectively integrating new labor force entrants, particularly women, into employment. The quality of regulation needs to be improved by leveraging digitalization and enhancing regulatory impact assessments. Further enlarging and deepening the European single market would allow firms to grow to scale and lift productivity.
    • Advancing judicial system reforms. Progress in the implementation of the new insolvency framework, which is essential for addressing a large stock of crisis legacy distressed debt, has been hindered by imbalances and rigidities in the functioning of the civil judiciary system. In line with the recent judicial reform program, efforts should focus on accelerating the resolution of court cases. Such reforms would not only enhance financial sector resilience but also promote productive growth by facilitating the reallocation of capital to more productive activities and higher investment.

    11. Continued progress in green and digital transition will help achieve energy security and further boost productivity growth. Improving power connectivity with distant islands and enhancing energy efficiency in industries and transportation are essential for achieving the updated climate goals. Building on the ongoing increase in solar and wind capacity, scaling up grid networks and storage solutions will contribute to energy security by ensuring a stable power supply. More fundamentally, the completion of the EU-wide Energy Union, with a fully integrated and interconnected energy market, will remain crucial. Additionally, building on the commendable digitalization of public administration and the new national artificial intelligence strategy, the authorities should incentivize stronger adoption of digital technologies by the private sector to enhance productivity gains.

    Strengthening financial system resilience

    12. Monitoring of credit risks by banks should be further strengthened, while enhancing capital adequacy and its quality. With accelerating credit growth, supervisors should continue scrutinizing the extent to which banks deploy adequate and forward-looking provisioning policies, supported by adequate collateral valuations. Supervisors should also closely monitor how banks adapt their business models to the changing operating environment and further strengthen their risk management frameworks. Currently elevated bank profits should be primarily utilized to build capital buffers and improve the quality of capital. The recently announced initiative by banks to accelerate the amortization of DTCs will enhance bank resilience and reduce the bank-sovereign nexus.

    13. The implementation of the recently adopted comprehensive macroprudential toolkit will further strengthen the resilience of the banking sector. Staff welcomes activation of borrower-based measures (BBMs) for mortgage loans and a positive neutral countercyclical capital buffer (CCyB). The BBMs, in the form of caps on loan-to-value (LTV) and debt service-to-income (DSTI) ratios, should help contain excessive mortgage leverage buildup while limiting banks’ exposure to the housing boom, although close monitoring is warranted. Given the still relatively low combined capital buffers, the authorities could consider recalibrating the CCyB rate over the medium term to align with increasing uncertainty and enhance resilience.

    In closing, the mission would like to thank the Greek authorities and other stakeholders for their kind hospitality and for the open and productive discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI USA: Coal Transportation Rates to the Electric Power Sector

    Source: US Energy Information Administration

    This recent update of the Coal Transportation Rates to the Electric Power Sector web page incorporates final data for 2023 from Form EIA-923, Power Plant Operations Report, and updates the tables with data in nominal and real 2023 dollars. The data tables are based on primary data that we collect from plant owners and operators on Form EIA-923 and on supplement data and analysis of coal transportation costs that we released in June 2011 and November 2012.

    The initial report on coal transportation rates covered 2001 through 2008, applied only to railroad shipments, and was based exclusively on waybill sample data obtained from the U.S. Surface Transportation Board (STB). The supplemental report provided an additional year of waybill sample data and incorporated data that we collected on Form EIA-923 for shipments by railroad, waterway, and truck for 2008 through 2010. The third set of tables on coal transportation rates were based on Form EIA-923 data for 2008 through 2012. The rates for 2008 and 2010 were slightly different from the rates we previously published due to minor changes in methodology. Transportation rates for 2011 and 2012 had not been previously published. The current release provides final rates for the years 2008 through 2023. We can no longer update waybill data due to STB’s modified interpretation of its data confidentiality obligation.

    As in previous iterations of Form EIA-923 data, the rates are based on primary mode of transportation. Because some shipments include a primary and secondary mode of transportation, these rates do not necessarily reflect the rates associated with only one transportation mode. In addition, the rates do not reflect shipments made to cogenerators and other end users of electricity, and they are based only on shipments made to plants in the electric power sector. We define the electric power sector as consisting of electric utilities and regulated and unregulated independent power producers.

    We calculate nominal rates by subtracting the commodity cost of the delivered coal from the total delivered cost, as reported by owners and operators of power plants with a combined nameplate capacity of 50 megawatts or greater. Because the commodity cost and delivered cost data are reported in terms of energy content (that is, million British thermal units), the costs are converted to dollars per ton using the average energy content of each shipment reported on the form. The representative transportation cost for each coal mine state, destination state, and transportation mode is a weighted average. Lastly, we convert the values to constant 2023 dollars by using the Implicit Price Deflators for Gross Domestic Product, as published by the U.S. Bureau of Economic Analysis in Table 1.1.9 of the National Income and Products Accounts tables.

    We make several assumptions when calculating the transportation costs. Most notably, we apply an internal methodology to identify and exclude costs that we believe to be outliers. In addition, we use only records that have reported values for commodity cost and delivered cost (in other words, we do not use imputed values).

    We assign coal shipments to basins based on counties as set out below.

    Basin State County
    Northern Appalachia Maryland  
    Ohio  
    Pennsylvania  
    West Virginia (northern)  
    Central Appalachia Kentucky (eastern)  
    Virginia  
    West Virginia (southern)  
    Tennessee Anderson, Campbell, Claiborne, Cumberland, Fentress, Morgan, Overton, Pickett, Putnam, Roane, and Scott
    Southern Appalachia Alabama  
    Tennessee Bledsoe, Coffee, Franklin, Grundy, Hamilton, Marion, Rhea, Sequatchie, Van Buren, Warren, and White
    Illinois Basin Illinois  
    Indiana  
    Kentucky (western)  
    Powder River Basin Montana Big Horn, Custer, Powder River, Rosebud, and Treasure 
    Wyoming Campbell, Converse, Crook, Johnson, Natrona, Niobrara, Sheridan, and Weston
    Uinta Basin Colorado Delta, Garfield, Gunnison, Mesa, Moffat, Pitkin, Rio Blanco, and Routt
    Utah Carbon, Duchesne, Emery, Grand, Sanpete, Sevier, Uintah, Utah, and Wasatch

    Our data include shipments to blank counties that originated in 13 states (generally because the plant purchases coal from a blender that uses coal purchased from multiple mines). In such cases, we assign the shipments to a coal basin based on the origin state and, when appropriate, other factors. We assign shipments originating in Alabama to southern Appalachia because it is the only coal basin in the state. Similarly, we assign shipments originating in Maryland, Ohio, and Pennsylvania to northern Appalachia, and we assign all shipments originating in Illinois and Indiana to the Illinois Basin. Although Tennessee overlaps both central Appalachia and southern Appalachia, coal has not been produced in southern Appalachia since 1990, so we assign all shipments to central Appalachia. In addition, we assign all shipments originating in Utah to the Uinta Basin even though, in theory, a small number of the shipments originated in coal mines that are not technically part of the basin.

    For coal with a missing county that originated in Kentucky, we assign all shipments with an average sulfur content greater than 2.4% to the Illinois Basin and the others to central Appalachia. For coal with a missing county that originated in West Virginia, we assign all shipments with an average sulfur content greater than 1.6% to northern Appalachia and the others to central Appalachia. For coal with a missing county that originated in Wyoming, we only assigned shipments with an average energy content less than or equal greater 17.9 million British thermal units per ton to the Powder River Basin.

    Because cost data collected on Form EIA-923 are confidential, we had to ensure that we suitably aggregated rates to prevent any individual rates from being observed or inferred. To meet this requirement, we withheld rates where the number of plants within a particular aggregation of rates was less than three.

    Contacts:

    David Fritsch
    Phone: 202-287-6538
    Email: David Fritsch

    Jonathan Church
    Phone: 202-586-7693
    Email: Jonathan Church

    MIL OSI USA News –

  • MIL-OSI Russia: Greece: Staff Concluding Statement of the 2025 Article IV Consultation Mission

    Source: IMF – News in Russian

    January 30, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Greece’s near-term economic outlook remains favorable, with real GDP sustaining its robust expansion. The public finances have further improved, with the public debt-to-GDP ratio on a firm downward trajectory, amid continued fiscal consolidation supported by strong progress in reducing tax evasion. Continuing the reform momentum will establish a solid foundation to address remaining crisis legacies and structural challenges arising from the rising yet still low level of overall investment, an unfavorable demographic outlook, and sluggish productivity growth. The right policy mix aimed at continuing fiscal consolidation in a growth-friendly manner, implementing ambitious reforms to address supply-side structural impediments, and further strengthening financial system resilience is essential to achieve sustainable growth in the medium to long term, while ensuring fiscal sustainability and safeguarding financial stability.

    Robust Expansion with Declining Debt

    1. The economy maintained its robust growth in 2024, supported by strong domestic demand. Real GDP expanded by 2.3 percent (year-on-year; y/y) in the first three quarters, buoyed by a strong pickup in NGEU-funded investment projects and robust private consumption underpinned by rising real income. The unemployment rate fell to 9.5 percent (seasonally adjusted) in 2024Q3, a historic low since 2009, and the vacancy rate has risen, reflecting labor shortages in a few sectors, particularly construction, tourism-related services, and high-skill sectors. The labor force participation rate has also gradually risen but remains among the lowest in EU, especially for women. Disinflation is underway at a gradual pace with headline and core inflation at 2.9 and 3.4 percent (y/y) in end-2024, respectively, amid persistent services inflation and wage growth. Along with strong economic activity, credit growth to the private sector has accelerated to 9.4 percent (y/y) in 2024Q4, accompanied by a continued increase in residential real estate prices. High domestic import demand, driven by investment, also contributed to the widening of the current account deficit to an estimated 6.9 percent of GDP in 2024.

    2. Continued fiscal consolidation and sustained progress in much-needed structural reforms have strengthened the public finances, growth potential, and energy security. By end-2024, the public debt-to-GDP ratio is estimated to have decreased by more than 50 percentage points from its peak in 2020, supported by strong growth, high inflation, and substantial fiscal consolidation. While the labor tax wedge has been reduced by about 4½ percentage points since 2019, tax revenue has remained buoyant due to the authorities’ strong progress in reducing tax evasion. The abolishment of substantial pension penalties for retirees re-entering the labor market significantly increased the number of working pensioners in 2024. Following the significant expansion of solar and wind capacity in recent years, renewable sources now account for about 50 percent of total electricity generation.

    3. The banking system has further enhanced its resilience with improved asset quality and capital adequacy. Asset quality in systemically important banks has improved further, with the NPL ratio dropping to around 3 percent in 2024Q3, facilitated by a government-sponsored securitization framework. Banks sustained high profits, which, along with capital instrument issuances, have boosted capital adequacy, although there is room for a further strengthening of voluntary capital buffers. The capital quality needs to be further improved as Deferred Tax Credit (DTC) still represents a substantial share of prudential capital. Given repayment of the Targeted Longer-Term Refinancing Operations (TLTROs) and meeting the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) targets, liquidity and funding risks have been markedly reduced, with buffers well above prudential requirements and the EU average.

    4. Real GDP growth is projected to remain high at 2.1 percent in 2025, before moderating in the medium term. Investment will continue to be a key driver, supported by NGEU-funded projects. Private consumption growth will remain solid, underpinned by favorable employment and income growth. With stabilizing global energy prices, headline inflation is expected to resume its downward trend, while core inflation will be more persistent due to services inflation and wage growth. With NGEU funding set to expire against the backdrop of demographic headwinds and sluggish productivity growth, GDP growth is forecast to moderate to lower levels around 1¼ percent in the medium term. The current account deficit is expected to narrow gradually below 4 percent of GDP in the medium term, as imports are expected to slow along with the winding down of NGEU-funded investment.

    5. Risks to the growth outlook are balanced, while those to inflation are tilted upward. Potential headwinds include the growth slowdown in major euro area countries, a deterioration of regional conflicts, and global policy uncertainty. The acceleration of ambitious structural reforms could further improve growth prospects. Stronger and more persistent-than-expected wage growth could further fuel services inflation, potentially exacerbated by fluctuations in global and regional energy prices.

    Growth-friendly Fiscal Consolidation

    6. Continued fiscal consolidation would further strengthen public debt sustainability. The primary surplus is expected to remain high at around 2½ percent of GDP in 2025 as reduced revenue from an additional cut in social security contributions is expected to be broadly offset by revenue gains from reforms aimed at reducing tax evasion and increasing tax compliance. With the primary surplus remaining high at 2.3 percent of GDP in the medium term, the public debt-to-GDP ratio is projected to decrease further by about 25 percentage points to below 130 percent by 2030.

    7. Additional expenditure measures that raise efficiency would further strengthen Greece’s public finances. Continued reforms are necessary to enhance efficient public investment planning and management, including through further strengthening centralized coordination and procurement. It is essential to protect non-pension social spending, such as healthcare and education, to promote inclusive growth, while enhancing efficiency. Excessive increases in pensions and public-sector wages should be resisted by implementing recent reforms, for example by ensuring that pension increases adhere to the established indexation formula without ad hoc adjustment.

    8. There is room for additional revenue-enhancing reforms to further reduce tax evasion while enhancing the progressivity of the tax system. The Independent Authority for Public Revenue’s new medium-term strategy presents a good opportunity to further modernize tax administration and increase tax collection by continuing to leverage digitalization, which also reduces the burden of compliance. Tax policy reforms should focus on broadening the tax base and increasing tax progressivity. Additionally, inefficient tax expenditures, particularly the regressive VAT exemptions on some goods and services, should be phased out. The authorities should also consider raising carbon pricing, particularly in the transport and industry sectors, which can generate revenue for improved social protection and help address climate change and energy security by sharpening market incentives.

    9. Fiscal space created by additional measures or better-than-expected performance should be used for debt reduction as well as crucial social and capital spending. While public debt remains high, there are significant infrastructure investment needs, especially for energy security and in support of the green transition. The authorities should also consider enhancing support for crucial social expenditures, such as healthcare, and education with increased targeting toward the poor and vulnerable to promote inclusive growth.

    Structural reforms for boosting potential growth

    10. Comprehensive reforms to address structural supply-side impediments would increase productivity and medium-term growth prospects.

    • Raising labor force participation and ensuring a better skilled workforce. Increasing the availability of childcare and elderly care facilities can enable women to engage more productively in the economy. Reducing the still high tax wedge, coupled with appropriate job search and phasing out certain features of the unemployment benefit within the eligibility period, can enhance work incentives. Upgrading and scaling up the lifelong learning system with effective private sector participation, particularly in digital and green skills, as well as healthcare, can reduce skill mismatches and help alleviate bottlenecks for youth and female employment.
    • Accelerating regulatory reforms. Further reducing the regulatory burden and barriers to entry for firms, particularly in the services sector, would foster competition, increase productivity, and promote investment. Promoting business dynamism and fostering robust job creation are essential for effectively integrating new labor force entrants, particularly women, into employment. The quality of regulation needs to be improved by leveraging digitalization and enhancing regulatory impact assessments. Further enlarging and deepening the European single market would allow firms to grow to scale and lift productivity.
    • Advancing judicial system reforms. Progress in the implementation of the new insolvency framework, which is essential for addressing a large stock of crisis legacy distressed debt, has been hindered by imbalances and rigidities in the functioning of the civil judiciary system. In line with the recent judicial reform program, efforts should focus on accelerating the resolution of court cases. Such reforms would not only enhance financial sector resilience but also promote productive growth by facilitating the reallocation of capital to more productive activities and higher investment.

    11. Continued progress in green and digital transition will help achieve energy security and further boost productivity growth. Improving power connectivity with distant islands and enhancing energy efficiency in industries and transportation are essential for achieving the updated climate goals. Building on the ongoing increase in solar and wind capacity, scaling up grid networks and storage solutions will contribute to energy security by ensuring a stable power supply. More fundamentally, the completion of the EU-wide Energy Union, with a fully integrated and interconnected energy market, will remain crucial. Additionally, building on the commendable digitalization of public administration and the new national artificial intelligence strategy, the authorities should incentivize stronger adoption of digital technologies by the private sector to enhance productivity gains.

    Strengthening financial system resilience

    12. Monitoring of credit risks by banks should be further strengthened, while enhancing capital adequacy and its quality. With accelerating credit growth, supervisors should continue scrutinizing the extent to which banks deploy adequate and forward-looking provisioning policies, supported by adequate collateral valuations. Supervisors should also closely monitor how banks adapt their business models to the changing operating environment and further strengthen their risk management frameworks. Currently elevated bank profits should be primarily utilized to build capital buffers and improve the quality of capital. The recently announced initiative by banks to accelerate the amortization of DTCs will enhance bank resilience and reduce the bank-sovereign nexus.

    13. The implementation of the recently adopted comprehensive macroprudential toolkit will further strengthen the resilience of the banking sector. Staff welcomes activation of borrower-based measures (BBMs) for mortgage loans and a positive neutral countercyclical capital buffer (CCyB). The BBMs, in the form of caps on loan-to-value (LTV) and debt service-to-income (DSTI) ratios, should help contain excessive mortgage leverage buildup while limiting banks’ exposure to the housing boom, although close monitoring is warranted. Given the still relatively low combined capital buffers, the authorities could consider recalibrating the CCyB rate over the medium term to align with increasing uncertainty and enhance resilience.

    In closing, the mission would like to thank the Greek authorities and other stakeholders for their kind hospitality and for the open and productive discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/01/30/CS-Greece-2025

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: DTE Energy schedules full year 2024 earnings release, conference call

    Source: GlobeNewswire (MIL-OSI)

    Detroit, Jan. 30, 2025 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE) will announce its full year 2024 earnings before the market opens Thursday, February 13, 2025.

    The company will conduct a conference call to discuss earnings results at 9:00 a.m. ET the same day.

    Investors, the news media and the public may listen to a live internet broadcast of the call at dteenergy.com/investors. The telephone dial-in number in the U.S. and Canada toll free is: (888) 510-2008. The U.S. and international toll telephone dial-in number is: (646) 960-0306 and the Canada dial-in toll is: (289) 514-5035. The passcode is 4987588. The webcast will be archived on the DTE Energy website at dteenergy.com/investors.

    About DTE Energy 

    DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/DTE_Energy and facebook.com/dteenergy. 

    For more information, members of the media may contact:
    Dan Miner, DTE Energy: 313.235.5555
    For further information, analysts may call:
    Matt Krupinski, DTE Energy: 313.235.6649
    John Dermody, DTE Energy: 313.235.8750

    The MIL Network –

  • MIL-OSI USA: U.S. nuclear generators import nearly all the uranium concentrate they use

    Source: US Energy Information Administration

    In-brief analysis

    January 30, 2025

    In 2023, U.S. nuclear generators used 32 million pounds of imported uranium concentrate (U3O8) and only 0.05 million pounds of domestically produced U3O8. Imports accounted for 99% of the U3O8 they used in 2023 to make nuclear fuel. Foreign producers predominantly supply the U.S. front-end nuclear fuel cycle, but federal policies have been implemented recently to build out the domestic U.S. nuclear fuel supply chain. The U.S. Department of Energy (DOE) recently received $2.7 billion in congressional funding to help revive domestic fuel production for commercial nuclear power plants.

    U3O8 is chemically extracted from uranium ore that has been mined and milled. The fine powder is packaged in steel drums and later enriched and processed further to prepare it for use as fuel in nuclear reactors. U.S. production of U3O8 in the third quarter of 2024 totaled 121,296 pounds, a 24% increase from production of 97,709 pounds in the second quarter. Production in the third quarter occurred at five U.S. facilities: three in Wyoming (Nichols Ranch ISR Project, Lost Creek Project, and Smith Ranch-Highland Operation) and two in Texas (Alta Mesa Project and Rosita).

    In 2023, the United States imported U3O8 and equivalents primarily from Canada, Australia, Russia, Kazakhstan, and Uzbekistan. The origin of U3O8 used in U.S. nuclear reactors could change in the coming years. In May 2024, the United States banned imports of uranium products from Russia beginning in August, although companies may apply for waivers through January 1, 2028.

    More information regarding U.S. uranium production and sourcing is available in our Domestic Uranium Production Report and Uranium Marketing Annual Report.

    Principal contributor: Slade Johnson
    Data visualization: Kristen Tsai

    MIL OSI USA News –

  • MIL-OSI: Enphase Energy Expands in Southeast Asia with Market Entry in Vietnam and Malaysia

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced that it is expanding in Southeast Asia by entering the solar markets in Vietnam and Malaysia. Enphase is now shipping IQ8P™ Microinverters, with peak output AC power of 480 W, for residential and commercial applications in Vietnam and Malaysia to support newer high-powered solar modules. Enphase announced first shipments of IQ8P Microinverters in Thailand and the Philippines last year.

    IQ8™ Microinverters are designed to maximize energy production and can manage a continuous DC current of 14 amperes, supporting higher-powered solar modules through increased energy harvesting. The IQ8P Microinverters are the most powerful microinverters available to date from Enphase. The product features a peak output power of 480 W and is built to seamlessly pair with a full range of solar modules up to 640 W DC. All IQ8P Microinverters activated in Vietnam, Malaysia, Thailand, and the Philippines come with an industry-leading 25-year limited warranty.

    “The Vietnamese solar market is poised for explosive growth thanks to the new Decree 135/2024/ND-CP on October 22, 2024,” said Phan Ngoc Anh, CEO of Alena Energy, a distributor of Enphase products in Vietnam. “This will be a major boost to the government’s ambitious 2050 net-zero carbon goal. Enphase IQ8P Microinverters are a game-changer, delivering unparalleled performance and safety – perfect for our solar installations.”

    “In Malaysia, the demand for energy savings and reliable, clean power solutions is driving solar adoption,” said Bernard Fok, general manager of MYSOLARPOWER SDN BHD, a distributor of Enphase products in Malaysia. “As the global leader in microinverter technology, Enphase offers the IQ8P Microinverters, which provide an ideal blend of efficiency and reliability. This empowers our customers to enjoy consistent energy production while reducing both their carbon footprint and utility costs.”

    The Enphase IQ8P Microinverter is built to use low-voltage alternating current (AC) power instead of high-voltage direct current (DC) power used by central (“string”) inverter-based solar systems. Additionally, Enphase IQ® Microinverters include built-in rapid shutdown to help keep first responders and utility workers safe. In an emergency, solar power can be turned off instantly and easily.

    “At KG Solar, we prioritize safety and reliability in every project, whether it’s a simple installation or a sensitive site like a gas station,” said Gunn Teeraniti, engineering director of KG Solar, an Enphase installer in Thailand. “That’s why we choose Enphase. The Enphase IQ8P Microinverters, backed by their impressive 25-year warranty, provide unmatched peace of mind for us and our customers. Their advanced safety features and consistent energy savings make them the ideal choice for all types of installations, from straightforward setups to the most demanding environments.”

    “As homeowners, our homes are likely to be one of the most expensive investments we’ll ever make in our entire lives,” said Hsin Yao Cheng, CEO at Helios, an installer of Enphase products in the Philippines. “We care a lot about our homes and the loved ones we nurture in them. Therefore, it’s a no brainer to put in the absolute safest and highest quality equipment to protect your investment and your family. Enphase IQ8P Microinverters stand out for their safety, durability, and exceptional performance. The 25-year limited warranty reassures us of their long-term reliability, while the system’s efficiency helps our clients achieve significant energy savings.”

    “At Enphase, our focus remains on expanding access to leading-edge, reliable energy technology across Southeast Asia,” said Ken Fong, senior vice president and general manager of the Americas and APAC at Enphase Energy. “We deeply value our partnerships with regional solar installers and are committed to supporting their work as we drive the adoption of resilient, renewable energy solutions.” 

    For more information about IQ8P Microinverters, please visit the Enphase websites for Vietnam, Malaysia, Thailand, and the Philippines.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 78.0 million microinverters, and over 4.5 million Enphase-based systems have been deployed in more than 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the United States and other countries. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; and the availability and market adoption of Enphase’s products in Vietnam, Malaysia, Thailand, and the Philippines. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –