All articles tagged with #power sector
WSP Global is acquiring U.S. power and energy firm TRC Companies in a $3.3 billion all-cash deal, aiming to become the largest engineering and design firm in the U.S. with a focus on the power and energy sector, which will account for 34% of its U.S. revenue. The deal is expected to be accretive to earnings and is set to close in the first quarter of 2026.
A study by the US Department of Energy's National Renewable Energy Laboratory (NREL) has found that US offshore wind has the potential to generate 133 GW of power by 2050, accounting for 8% of US electricity. However, the deployment of offshore wind will be influenced by various factors, including decarbonization policies, technology costs, siting options for onshore renewables, and interregional transmission. The study highlights the need for greater coordination between local, state, and federal authorities in the power sector and offshore wind infrastructure planning.
The Edison Electric Institute (EEI), a top utility trade group, has warned the Biden administration that its plan to reduce carbon emissions from the power sector is unworkable and relies too heavily on unproven technologies. The proposed plan, which aims to achieve net-zero emissions by 2035, hinges on the widespread commercial availability of carbon capture and storage (CCS) and low-emissions green hydrogen. The EEI and other energy-related groups argue that these technologies may not meet performance and cost requirements within the proposed timelines. The resistance from industry groups poses a significant challenge to the administration's climate agenda.