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Wood Mackenzie’s Lens Transforms Upstream Oil & Gas Analytics

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The latest addition to Wood Mackenzie’s Lens data analytics platform, Lens Upstream Optimisation, enables users to simulate the economic impact and tax implications of M&A activity on company portfolios within seconds, with results visually displayed in automatically generated maps, charts and tables.

Head of Upstream Product Management, John Dunn, said, “This will have a profound impact on our customer workflows, transforming economic deal analysis from the domain of specialist economic modellers to a task that any E&P professional or banking analyst can perform with confidence, and freeing data specialists to focus on value-add activities rather than data wrangling.” Mr Dunn added, “Our cloud-hosted valuation engine processing large volumes of upstream economic data at speed has enabled us to bring our customers a range of significant business workflow efficiencies, from key insights generated in seconds, to eliminating manual error-prone tasks through automated data ingestion via our Lens Direct API service.”

To continue to attract capital, portfolios must be built around core advantaged assets – low-cost, long-life, low carbon-intensive barrels. With 2020 being the year many of the oil Majors committed to net-zero carbon goals, it is anticipated that the coming decade will see a rise in M&A activity as the Majors’ non-core assets find new buyers.

Greig Aitken, Head of Wood Mackenzie’s M&A service added, “With Lens Upstream Optimisation you can build your own custom portfolios to assess strategic fit and value-driven synergies for potential M&A activity on-the-fly. The time to result is up to twenty times faster for assessing opportunities, testing ‘what if’ scenarios or scanning the market for potential buyers and sellers. Within Wood Mackenzie’s M&A research team, we are already realising massive efficiency gains for our own analysis. It’s game-changing.”

Over the last 45 years, the Wood Mackenzie brand has become synonymous with delivering insights critical to achieving sustainable and resilient business performance, but more recently the company has been investing in the best-in-class data analytics platform, Lens. Wood Mackenzie’s renowned expertise in research and data analytics is now augmented by technology to bring the most accurate and impactful intelligence.

Chris Grieve EVP of Strategy & Corporate Development said, “From my prior roles in upstream business development and investment banking, I know first-hand just how laborious analysing potential upstream deals can be. The time and effort to model different scenarios when screening and valuing opportunities is significant. Whether actively working on a portfolio or getting to understand competitor bidding strategies, the initial screening using Lens Upstream Optimisation can be done in just a few clicks. By having deal notes turned around in seconds, leveraging the latest weekly asset model updates from Wood Mackenzie, E&P and investment professionals alike can spend more time on detailed due diligence of highly prospective deals instead of hours and days screening deals only to find them unsuitable for a company’s portfolio. It’s changed our workflows for good and delivered new analytical benchmarks.”

Wood Mackenzie has announced plans to support sectors across the natural resources value chain. “As we scale Lens capabilities across new sectors, our aim is to provide tailored user experience that reflects our customer workflows and further improve their operational efficiency,” he said.

Wood Mackenzie’s Lens® is the industry standard in critical decision-support, harnessing the power of big data to provide answers to complex questions, enabling customers to manage their operations, processes, and capital swiftly and efficiently, wherever they are.

About Wood Mackenzie

Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world’s natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

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Source: https://www.prnewswire.com:443/news-releases/wood-mackenzies-lens-transforms-upstream-oil–gas-analytics-301179982.html

Energy

Dakota Power wins N.J. project approval, has billion-dollar solar plans

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In addition to the 50 MW project, Dakota Power Partners has proposed developing at least five more utility-scale solar facilities across the Garden State.

Dakota Power Partners, which said it intends to invest $1 billion in utility-scale solar in New Jersey, has won approval for the developer’s first solar farm as part of what could become a large project portfolio.

The Millville Planning Board unanimously approved the 50 MW solar farm during its monthly meeting on January 12, clearing the way for construction to begin by year’s end. Called Nabb Solar I, the project will be located in western Millville and is anticipated to begin operation in fall 2022.

Timothy Daniels, Dakota’s principal and co-founder, said the local officials were “quick to see the value of this project.”

Over the 30-year expected life of the project, Nabb Solar I is estimated to generate a total of approximately $7.8 million in taxes. Dakota said it will pay annual real estate taxes of approximately $102,295 to the City of Millville, $67,547 to Millville Public Schools, and $98,166 to Cumberland County, for a total of $268,008 in local taxes per year.

Joe Derella, director of the Cumberland County Board of Commissioners, called the project a “massive $70 million investment in our region” that will create hundreds of jobs.

“This is what the future of energy looks like in New Jersey,” said Millville Mayor Mike Santiago.

Nabb Solar I is one of six similar New Jersey projects being proposed by Dakota Power Partners, which has offices in Millville and Denver, Colorado. In total, Dakota is proposing a $1 billion utility-scale solar investment in the Garden State.

Utilizing a portfolio of utility-scale solar and solar+storage projects across the state, the company said it intends to achieve generating capacity totaling more than 1 GW in New Jersey.

According Dakota, the company has participated in the development of more than 3.15 GW of operating and in-construction wind and solar projects around the U.S., representing an aggregate capital investment in rural communities in excess of $3.8 billion.

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Source: https://pv-magazine-usa.com/2021/01/25/dakota-power-wins-n-j-project-approval-has-billion-dollar-solar-plans/

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National lab and Youngstown State partner to develop battery manufacturing workforce

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Electric vehicle

The U.S. Department of Energy’s (DOE) Oak Ridge National Laboratory is partnering with Ohio’s Youngstown State University on a $1 million project to advance workforce development for the battery manufacturing industry.

According to the DOE, the new Energy Storage Workforce Innovation Center will serve as a training center based in the Midwest. It will support the battery and electric vehicle (EV) manufacturing industry in the northeast region of Ohio–referred to as “Voltage Valley” due to the EV sector’s regional investments–by helping supply a capable workforce.

The DOE said the U.S. is in a period of “tremendous advancement in battery technologies, presenting new opportunities for electric vehicles and energy storage systems,” and it’s essential to “prepare a workforce that will lead the next generation of energy storage technologies into practice.”

This effort supports the DOE’s Energy Storage Grand Challenge, which draws on the research capabilities of the U.S. national laboratories, universities, and industry to accelerate the development of energy storage technologies. The DOE added that the Energy Storage Grand Challenge Roadmap outlines a department-wide strategy to accelerate innovation across a range of storage technologies and develop a skilled workforce based on three concepts: Innovate Here, Make Here, and Deploy Everywhere.

U.S. Rep. Tim Ryan, representing Ohio’s 13th District, called this new partnership a “great example of how government can work to bolster efforts on the ground in our community to dominate in the clean energy economy.”

The $1 million project is sponsored by the DOE’s Office of Energy Efficiency and Renewable Energy’s Vehicle Technologies Office and the Advanced Manufacturing Office.

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Source: https://pv-magazine-usa.com/2021/01/25/national-lab-and-youngstown-state-partner-to-develop-battery-manufacturing-workforce/

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Drought conditions could impact power generation in the West

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Ongoing drought and low snowpack mean that hydro production at two big dams could be impacted, affecting the West’s power supply in 2021.

Ongoing drought in parts of the West could trigger water conservation measures across seven states this year.

It would mark the first time that cutbacks outlined in drought contingency plans drafted two years ago have been put in place.

Everything from hydroelectric power generation to agricultural production to the bubbling fountains at Las Vegas casinos could be impacted.

Impacts on hydro generation could have ripple effects across the Southwest, including solar and energy storage.

A forecast released in mid-January by the U.S. Bureau of Reclamation said that the federally owned Lake Mead and Lake Powell — the nation’s two largest reservoirs and critical storage for Colorado River water and its 40 million users — are both approaching near-record-low levels. If those levels continue dropping as expected, agreements signed by the seven Colorado River Basin states in 2019 will go into effect, with water deliveries curtailed to keep the federal government from stepping in and imposing cuts of its own.

The Upper Colorado River basin region includes all or parts of Arizona, Colorado, Idaho, Nevada, New Mexico, Texas, Utah, and Wyoming. Drought has been an ongoing problem across much of the region for most of the century. The Bureau of Reclamation’s latest quarterly report showed Lake Powell at 42% of capacity and Lake Mead at 40%.

Three hydro plants that could be affected as water levels fall are the 1,312 MW station built at Glen Canyon Dam in 1964, and two hydro plants at Hoover Dam, which were built in 1936 and have a combined capacity of 2,078 MW.

In 2019, the Glen Canyon station generated nearly 4 million MWh of electricity. Combined, the two Hoover Dam stations generated roughly 3.4 million MWh, according to S&P Global.

The Bureau of Reclamation said in its report that during the 21-year period from 2000 to 2020, inflow to Lake Powell, which is a good measure of hydrologic conditions in the Colorado River Basin, was above average in only four of the past 19 years. It said the period 2000-2020 was the lowest 21-year period since the closure of Glen Canyon Dam in 1963.

The report said that under the current most probable forecast, the total water-year 2021 inflow to Lake Powell would be 5.72 million acre-feet, or roughly 53% of average.

If worst-case projections materialize, the water level at Lake Powell could drop below a critical level — measured as 3,525 feet above sea level — in early 2022, threatening the ability of Glen Canyon Dam to generate electricity.

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Source: https://pv-magazine-usa.com/2021/01/25/drought-conditions-could-impact-power-generation-in-the-west/

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Clorox achieves renewables goal for U.S., Canadian operations four years early

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The manufacturer reached its target with the help of a 70 MW virtual power purchase agreement with a Texas solar project.

The Clorox Co., whose products help consumers clean their homes and businesses, has turned to renewables to help clean the environment.

In an announcement, Clorox said it has reached its goal to power the company’s U.S. and Canadian operations using 100% renewable electricity. Part of the corporation’s environmental, social, and governance commitments, the target was achieved four years earlier than originally planned, thanks, in large part, to a solar contract.

In 2019, Clorox signed a 12-year virtual power purchase agreement (VPPA) to buy 70 MW annually from Enel Green Power’s Roadrunner solar project in Texas. Enel kicked off construction on the 497 MW Roadrunner facility in 2019 and completed the two-phase project in late 2020, making it one of the largest solar plants in the Lone Star State.

Moving forward, Clorox will maintain its 100% renewable electricity goal through the VPPA and other market purchases of renewable energy credits. Schneider Electric Energy & Sustainability Services advised the company on the deals.

Ed Huber, Clorox’s chief sustainability officer, said the manufacturer feels “a sense of urgency to address climate change” and recognizes “businesses play an important role in driving needed progress.”

Clorox also joined a coalition of other corporations–including Amazon, McDonalds, Pepsi Co., Walmart, and Facebook–calling on the Biden Administration to help pave the way for a zero-carbon U.S. power sector.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/clorox-achieves-renewables-goal-for-u-s-canadian-operations-four-years-early/

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