Subscribe free to our newsletters via your
  Wind Energy News  




Subscribe free to our newsletters via your




















WIND DAILY
Renewables a big boost for GE's profits
by Daniel J. Graeber
Fairfield, Conn. (UPI) Jan 20, 2017


Essen, Germany wins greenest city honors
Washington DC (UPI) Jan 20, 2017 - The city of Essen in German was honored with a green-city award by a European body for transforming itself from a steel to an environmental leader.

"This award is recognition of Essen's great efforts to establish itself as a city in transformation; overcoming a challenging industrial history to reinvent itself as a green city," Essen Mayor Thomas Kufen said in a statement. "We strive to be a leading example for other European cities in finding sustainable solutions to urban challenges."

Essen received the 2017 Green Capital Award from European government bodies for transforming itself from a coal and steel industrial leader to one of the greenest cities in the region.

According to European data, Essen has not had any landfill or domestic waste in decades and nearly all of the city's population lives at most three city blocks away from a green urban space. For future goals, the city aims to reduce car travel, a main contributor to greenhouse gas emissions, by 29 percent by 2035 and create 20,000 jobs in the environmental sector by 2025.

The European government said Essen is a model for sustainable urban development for the rest of the region.

"I congratulate Essen on becoming European Green Capital 2017 and making the city a healthier place to live in," European Environment Commissioner Karmenu Vella said. "The impressive transformation from coal and steel industry to the greenest city in North Rhine-Westphalia is proof of Essen's successful structural change."

Germany as a whole has one of the greener economies in Europe. Last year, Austrian energy company OMV announced an initiative in Germany, which envisions 400 hydrogen filling stations for alternative vehicles by 2023. The country is already one of the European leaders in wind energy development. German utility group RWE, meanwhile, said it would work with port officials to create infrastructure to fuel vessels with cleaner-burning liquefied natural gas.

In the wake of Japan's nuclear disaster in 2011, German Chancellor Angela Merkel ordered eight of the country's 17 nuclear reactors closed by the end of that year and a total shutdown by 2022.

Gains in the renewable energy sector and deals in exploration and production helped boost fourth quarter profits substantially, General Electric said Friday.

GE said its earnings during the fourth quarter increased to about $3.5 billion, against the $2.6 billion reported during the same period last year. By sector, the company's renewable energy sector saw total revenues increase 29 percent to $2.5 billion.

"We executed on our 2016 goals and continued to drive growth across our businesses," Chairman and CEO Jeff Immelt said in a statement.

On the renewable energy front, the company announced at least $1.6 billion in acquisitions of wind power rivals and realized billions of dollars more in onshore wind orders in the United States alone. Last year, the company put its wind energy sector footprint on display at the Block Island wind farm, which became the first offshore wind farm in commercial service in the United States.

Outside of North America, the company committed to collaborating with Italian energy company Eni on a wide range of projects tied to low-carbon power options like solar power and wind. In British waters, GE said there's already $25 million committed to tidal power.

GE's oil and gas business has built up its position through acquisitions so that it's now one of the stronger divisions within the parent company. A marine division of GE last year said it would work with Danish energy company Maersk Drilling on a pilot program to use advanced digital technology for drilling operations. The collaboration with Maersk came less than a month after the oil and gas division of GE acquired a 62.5 percent stake in oilfield services company Baker Hughes.

The exploration and production side of the global energy turned south last year on the back of lower crude oil prices, though the market has recovered since the Organization of Petroleum Exporting Countries coordinated a deal to offset market strains.

On oil and gas, however, GE reported total revenues for the fourth quarter were 22 percent lower year-on-year.


Comment on this article using your Disqus, Facebook, Google or Twitter login.

.


Related Links
Wind Energy News at Wind Daily






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
WIND DAILY
Essen, Germany wins greenest city honors
Washington DC (UPI) Jan 20, 2017
The city of Essen in German was honored with a green-city award by a European body for transforming itself from a steel to an environmental leader. "This award is recognition of Essen's great efforts to establish itself as a city in transformation; overcoming a challenging industrial history to reinvent itself as a green city," Essen Mayor Thomas Kufen said in a statement. "We strive to ... read more


WIND DAILY
Treated carbon pulls radioactive elements from water

AREVA to supply refueling equipment upgrades to TVA reactors

Portugal protests against Spain nuclear waste near border

France sells off Engie stake to finance Areva rescue

WIND DAILY
Asia Pacific to gain edge in low-carbon growth

Xinhua: U.S. wasting opportunity in clean energy

Rooftop Solar in the Spotlight at the World Future Energy Summit Solar Expo

Capital One invests big in SolarReserve's Crescent Dunes solar energy project

WIND DAILY
Populus dataset holds promise for biofuels, materials, metabolites

Handheld Sensor Unit Determines Biofuel Content Of Diesel Blends

Dual-purpose biofuel crops could extend production, increase profits

Iowa State engineer helps journal highlight how pyrolysis can advance the bioeconomy

WIND DAILY
Oil state of Texas still facing some economic pressures

Shell continues evolution by parting with Saudi corporation

Tight market signs give boost to oil prices

New drilling under way in Senegalese hot spot

WIND DAILY
Australian energy group backs Li Ka-shing takeover

China to build $1.5 billion power line across Pakistan

MIT Energy Initiative report provides guidance for evolving electric power sector

Toward energy solutions for northern regions

WIND DAILY
New design strategy for longer lasting batteries

Samsung blames Galaxy Note 7 fires on faulty batteriesW/LLL

Harnessing the energy of fireworks for fuel

Physicist uncovers clues to mechanism behind magnetic reconnection

WIND DAILY
Society set for head-on collision with driverless cars

New Zealand stimulates electric vehicle market

Paris experiments with driverless buses

US closes probe into fatal Tesla autopilot crash, no defect found

WIND DAILY
Tiny plants with huge potential

Can the 'greening' be greener?

Europe urged to expand pesticide ban for bees' sake

Pressures from grazers hastens ecosystem collapse from drought




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News








The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement