Germany Sets Yearly Solar Power Record

With more than two months to go in 2020, the amount of photovoltaic energy produced has already exceeded that in 2019.

BERLIN, Oct. 27, 2020 /PRNewswire/ — (GTAI) – German energy provider Eon says that since the beginning of the year solar energy facilities have fed some 43 billion kilowatt hours of electricity into the national grid. That’s already around one billion kilowatt hours more than in all of 2019 and enough to cover the electricity needs of all private households in Germany twofold.

Eon added that all told renewable sources have been responsible for 195 billion kilowatt hours of energy fed into the grid thus far in 2020. The figure represents an increase of four percent over January to October 2019.

Germany’s prestigious Fraunhofer Institute for Solar Energy Systems (ISE) has also calculated that 2020 will be a record year for renewable energy in Germany. The institute says that from January through October renewables accounted for 52.5 percent of net public electricity production. In 2019, green power sources contributed 46 percent.

“These record achievements – together with recent commitments to green hydrogen and even more renewable energy production – are the cornerstones of the new ecological infrastructure that Germany will be building over the next decade,” says Germany Trade & Invest (GTAI) energy expert Tobias Rothacher. “We see a steady flow of innovative green industry players entering Germany as a manufacturing base to take advantage of the excellent market outlook here.”

Contact:
Jefferson Chase
Senior Manager
Corporate Communications

GERMANY TRADE & INVEST 
Follow us Twitter | LinkedIn | Xing | YouTube

T +49 30 200 099 170
jefferson.chase@gtai.com 
www.gtai.com

Germany Trade & Invest (GTAI) is the economic development agency of the Federal Republic of Germany. GTAI supports German companies setting up in foreign markets, promotes Germany as a business location and assists foreign companies setting up in Germany.

 

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SOURCE Germany Trade & Invest

NV Energy Requests Bids for Major Addition to Renewable Energy Portfolio

LAS VEGAS, Oct. 27, 2020 /PRNewswire/ — NV Energy today issued a request for proposals to add new renewable energy projects to its portfolio. This announcement follows the Public Utilities Commission of Nevada’s (PUCN) December 2019 approval of 1,190 megawatts of new solar energy and 590 megawatts of battery storage to be built in Nevada and serving customers by Jan. 1, 2024. In addition, several of the new renewable projects approved by the PUCN in December of 2018, totaling 1,001 megawatts that will begin serving NV Energy customers at the end of 2021, have broken ground.

“We continue our commitment to expand our use of renewable resources while working to reduce energy costs for our customers,” said Doug Cannon, NV Energy President and Chief Executive Officer. “We expect these new projects to provide some of the lowest-cost renewable energy available, which will directly benefit our customers.”

The request for proposals seeks solar, geothermal, wind, biomass and biogas technology projects that are compliant with Nevada’s existing renewable portfolio standards. NV Energy will also consider proposals that include energy storage systems integrated with renewable energy resources as well as stand-alone energy storage systems. Projects will be competitively evaluated on a number of factors, including best value to NV Energy customers and the creation of economic benefits within the State of Nevada.

NV Energy requests that all parties interested in becoming a bidder for this opportunity register on the company’s website here and follow each of the directives under the “Steps to Complete” section of the website.

Bids are due by 4 p.m. on January 6, 2021. Projects proposed by successful bidders will require the approval of the PUCN. It is anticipated the projects would be completed and producing energy for customers by December 31, 2025.

About NV Energy
NV Energy provides a wide range of energy services to more than 1.4 million customers throughout Nevada and more than 50 million tourists annually. NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, do business as NV Energy. NV Energy is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company’s website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.

 

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SOURCE NV Energy

Nexant Patents Fundamental Breakthrough to Mitigate Indeterminacy in Processes of Generation and Delivery of Electrical Energy with Implications beyond Energy Industry

PHOENIX, Oct. 27, 2020 /PRNewswire/ — In 2016, Nexant grid experts Joseph Bright and Mauro Prais discovered a solution to the problem of indeterminacy in the clearing value of electrical energy in power systems. In particular, the patented approach successfully and consistently determines the clearing values (e.g., prices) when multiple solutions for clearing exist. This fundamental breakthrough can be applied within the energy industry as well as all other industries. A patent was issued on September 8, 2020, for the methodology: U.S. Patent No. 10,770,901.

“Within the electrical energy markets, value indeterminacy may lead to wild swings of congestion rent values. In energy transmission markets, this indeterminacy may cause large amounts of counter-flow bid payout, great variations of returns, and disparity of values across periods.  Such variations and disparities may negatively affect energy generation and transmission systems in a long term.” observed Mauro Prais, a Principal in Nexant’s Grid Management practice.

Joseph Bright, Vice President of Grid Management, said, “Our first inclination when faced with the value indeterminacy problem was to research methods in other industries and throughout the Operations Research field that might address the problem and their application to the electrical energy and other industries. It was quite a shock to realize that nothing existed and the problem has been evidently overlooked. So we proceeded to conduct research to solve the problem.

In a power system, bids are specified for a resource (e.g., power generation and/or transmission) and value quantity (what the bidder considers an appropriate value for obtaining or supplying the resource). At the solution, each resource amount is awarded based upon bids, scarcity in the market, and the associated clearing value (how the market values each resource). Multiple solutions of resources can be handled by pro-rationing of awards. Joseph Bright and Mauro Prais discovered and patented an approach mitigating the clearing value indeterminacy. In this approach, a follow-up optimization determines consistent clearing values using a secondary objective (e.g., price averaging, congestion rent minimization, or auction revenue maximization), while maintaining the original resource awards.  As the result energy generation and transmission systems are provided with long term consistency.

“The idea of optimizing the clearing values remains brand new. It opens up previously-hidden tools as its application can be seen to be quite broad. Many other objective functions of the secondary optimization have been or can be developed. Optimization is never a single solution but a family of market solutions and explanations regarding the results,” said Bright.

This innovative solution was recently added to Nexant’s iHedge software and is available for use by Independent System Operators (ISO), generator owners and energy consumers. Nexant’s iHedge software has been successfully deployed at most of the ISOs in the United States and the market system operation center in New Zealand.

ABOUT NEXANT
Nexant is a software and consulting firm that provides innovative solutions to improve customer engagement, boost operational efficiency, and save resources. We offer expertise in demand-side management, grid management, and renewables, as well as a comprehensive suite of software designed to support these initiatives. Every day, we work with customers to reimagine the world we live in and create a more sustainable energy future.

For more information on Nexant’s services, contact info@nexant.com or visit www.nexant.com.

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SOURCE Nexant

Reading Wind Facility in Kansas is Operational

ATLANTA, June 22, 2020 /PRNewswire/ — Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, today announced that the 200-megawatt (MW) Reading Wind Facility in Osage and Lyon Counties, Kansas, is now operational.

This project, Southern Power’s eleventh wind facility, is the first to be validated as a carbon offset project under the Verified Carbon Standard Program through an agreement with Royal Caribbean Cruises Ltd. (NYSE: RCL).

This initiative, which is expected to annually offset more than 10 percent of Royal Caribbean’s emissions, is the latest addition to that company’s extensive sustainability efforts, which include programs to reduce greenhouse gas emissions through innovations at sea and in port.

“Reading Wind Facility is our first wind project in the state of Kansas, and we are pleased to see this project achieve commercial operation,” said Southern Power President Bill Grantham. “The addition of this facility showcases our commitment to the development of wind energy and is an excellent addition to our growing renewable fleet.”

The carbon offsets generated by the Reading Wind Facility are being sold to Royal Caribbean under a 12-year power purchase agreement. These carbon offsets are certified with Verra using the Verified Carbon Standard Program, the world’s most widely used voluntary greenhouse gas program.

Reading Wind Facility consists of 62 wind turbines manufactured by Siemens Gamesa. Siemens Gamesa is responsible for the annual maintenance service plan and providing qualified personnel to support the 20-year Long Term Program (LTP) that covers all up-tower maintenance. Southern Power will perform the balance of onsite plant operations and maintenance. Southern Power’s Remote Operation Center is responsible for 24-hour monitoring and responding to Southwest Power Pool operational instruction.

Southern Power acquired Reading Wind Facility in August 2018. Renewable Energy Systems (RES) served as the developer and constructor of the site, which created 200 jobs at peak construction.

Southern Power’s wind portfolio consists of more than 2,100 MW of wind generation. Southern Power’s wind facilities are a part of the company’s 4,510-MW renewable fleet, which consists of 41 solar and wind facilities operating or under construction. 

About Southern Power

Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers. Southern Power and its subsidiaries, some of which are owned in part with various partners, own or operate 50 facilities operating or under development in 13 states with more than 11,920 MW of generating capacity in Alabama, California, Delaware, Georgia, Kansas, Maine, Nevada, New Mexico, North Carolina, Oklahoma, Texas, Washington and West Virginia.

About Southern Company

Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Forbes and the Women’s Choice Award. To learn more, visit www.southerncompany.com.

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SOURCE Southern Power

Southern Company forms Southern Energy Resources group, names Cummiskey Group CEO

ATLANTA, June 22, 2020 /PRNewswire/ — Southern Company today combined the leadership of three of its businesses – Southern Power, PowerSecure and Southern Holdings – under one CEO to optimize the needs of large commercial, industrial and municipal customers across the country. The company named Chris Cummiskey to the new position of Group CEO for Southern Energy Resources, and executive vice president of Southern Company Services Commercial Development.

Southern Power, PowerSecure and Southern Holdings will maintain their brands as individual companies and Mark Lantrip, president and CEO of Southern Company Services, will continue as chairman of each.

Cummiskey was previously executive vice president of external affairs and nuclear development for Georgia Power, also a Southern Company subsidiary.

Effective July 1, Cummiskey is responsible for Southern Company’s competitive power businesses in front of the meter and behind the meter including a growing Energy Services business.  As CEO of Southern Holdings, Cummiskey will also be responsible for Southern Company’s strategic and venture capital investment activities. 

In his career, Cummiskey has served as chief com­mercial officer of Southern Power and as commis­sioner of the Georgia Department of Economic Development.

Cummiskey is a past member of the Board of Regents of the University System of Georgia and the Georgia Ports Authority. He earned his bachelor’s degree in business administration from the University of Georgia. He and his wife, Rebecca, reside in Atlanta with their two children, Addison and Jack.

About Southern Company
Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Fortune’s “World’s Most Admired Companies” list, Forbes and the Women’s Choice Award. To learn more, visit www.southerncompany.com.

 

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SOURCE Southern Company

Vistra Commits $10 Million to Organizations Working for Social Justice and Equity

Company’s multi-year commitment focuses on minority-owned small businesses, economic development, and educationIn addition, Vistra is engaging employees to talk about race in the workplace to further its diversity and inclusion policies and programs

IRVING, Texas, June 22, 2020 /PRNewswire/ — Vistra (NYSE: VST) today announced that it is committing $10 million over the next five years to support the advancement of minority communities.

“I think it is pretty simple: Companies have an obligation to ensure an equitable workplace and to help our communities – whether faced with a pandemic, a natural disaster, or inequality and social injustice. Vistra does not see the issues plaguing our country through a political lens; we see it through our people, our communities, and our customers,” said Curt Morgan, president and CEO of Vistra. “We must acknowledge that, for some people in our society, there are fewer opportunities and resources, and we are determined to change that. It’s the right thing to do.”

This investment is a reaffirmation and extension of existing efforts, which focus on national, state, and local organizations that grow minority-owned small businesses, enhance economic development, and provide and improve educational opportunities for students from diverse backgrounds. Today’s announcement is consistent with the key focus areas of the company’s giving policy and builds upon Vistra’s donations in excess of $30 million over the past several years to benefit low-income and minority communities.

“When deciding where to put our focus, we looked to those areas where we believe Vistra can have the most impact – investing in people through education and economic development. When small businesses thrive in minority neighborhoods, they not only provide access to goods and services to local residents, they can transform communities for the better. As an electricity supplier to small businesses, we want to see them flourish,” Morgan continued. “We’re passionate about helping young people and developing the next generation of professionals. It starts with access to quality education.” 

Vistra is immediately making donations totaling nearly $1.5 million to a number of proven organizations that impact the communities where the company operates. Ongoing donations will be made in the coming weeks, months, and years.

Examples of Vistra’s initial efforts include:

Small Businesses & Economic Development

  • Providing immediate relief to rebuild minority-owned small businesses and invest in their long-term growth through national and state organizations and their local affiliates like the National Minority Supplier Development Council, Black Chambers of Commerce, and Hispanic Chambers of Commerce
  • Supporting the communities where Vistra has operations, through the National Urban League and its affiliates in Chicago, Cincinnati, Columbus, Houston, St. Louis, Pittsburgh, and Philadelphia
  • Expanding our mentoring and pro-bono consulting services for minority-owned small businesses

Education

  • Establishing endowed scholarships for historically black colleges and universities (HBCUs) and those with significant multi-cultural student bodies, including Prairie View A&M University, Paul Quinn College, and Texas State Technical College located in Vistra’s home state of Texas
  • Advancing access to education and opportunities through the United Negro College Fund in Dallas and Tarrant County
  • Fostering the educational advancement of Hispanic students through the Hispanic Scholarship Fund
  • Supporting early childhood literacy and kindergarten readiness through our sustained and sizeable donations from our company and employees to the United Way and its Strong Start Initiative 
  • Partnering and volunteering with elementary schools in low-income and minority communities

Vistra’s Commitment to Diversity and Inclusion in the Workplace
Vistra has long recognized the value of a diverse workforce. The company has always aimed to create and maintain an environment where differences are valued and respected, which enhances Vistra’s ability to recruit and retain the best talent in the marketplace and to better understand and serve our customers.

“It has been an emotional few weeks for the Vistra family and we have had to reflect on where we are in our journey for social justice and equity. The reality is that we all can and must do more. We cannot delegate change to others; it starts with us. We all spend a significant part of our lives working and we want to work for a company that values us equally and provides a fair path to achieving our career aspirations. To that end, we are doubling down on our efforts to ensure our company culture is one where there’s mutual respect and each individual’s unique characteristics and skills are valued,” said Morgan.

Internally, Vistra is holding sessions where members of the leadership team come together in small groups with employees to listen to their thoughts and experiences on race in their lives and within the workplace.

“We recognize that our people, like people across the country, are hurting and frustrated. They’re also searching for ways to make a difference and show support. It’s important that we create a safe space for our valued employees to talk about their experiences and the role race has played in their careers, and to share ideas of how Vistra can be better,” said Carrie Kirby, chief administrative officer for Vistra. “Our leadership team is listening and learning, and we’ll take what we hear to better our formal diversity and inclusion policies and programs in our workplace. We are convinced we will be a better company for all of our stakeholders as a result.”

Media
Meranda Cohn
214-875-8004
Media.Relations@vistraenergy.com

About Vistra
Vistra (NYSE: VST) is a premier, integrated, Fortune 275 energy company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 5 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is the largest competitive residential electricity provider in the country and offers over 40 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio including natural gas, nuclear, solar, and battery energy storage facilities. In addition, the company is a large purchaser of wind power. The company is currently constructing a 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, which will be the largest of its kind in the world when it comes online. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders including our customers, our communities where we work and live, our employees, and our investors. Learn more about our environmental, social, and governance efforts and read the company’s sustainability report at https://www.vistraenergy.com/sustainability/

 

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SOURCE Vistra Energy

Georgia Power announces executive leadership moves

ATLANTA, June 22, 2020 /PRNewswire/ — Georgia Power announced today several executive leadership moves and organization realignments. As the company continues to focus on investing in Georgia’s energy future, it is also continuously evolving to meet the changing needs of customers while delivering clean, safe, reliable, affordable energy to 2.6 million customers throughout the state.

“The depth of experience across our leadership team is instrumental in shaping how we adapt as our business, customers and communities change,” said Paul Bowers, chairman, president and CEO of Georgia Power. “At Georgia Power, our leaders help ensure we are making decisions that best reflect the needs of our customers today and in the future.”

The following appointments are effective July 1: 

Meredith Lackey will become executive vice president of External Affairs and Nuclear Development. Lackey will lead the company’s policies and activities in community and economic development, corporate communication, environmental affairs, governmental and regulatory affairs, regional external affairs, land management, pricing and planning and nuclear development. Lackey currently serves as senior vice president, General Counsel, Corporate Secretary & Chief Compliance Officer and succeeds Chris Cummiskey, who has been named Group CEO for Southern Energy Resources.

Sterling Spainhour will become senior vice president, General Counsel, Corporate Secretary & Chief Compliance Officer. Spainhour will oversee corporate compliance, risk management, security and legal services functions and succeeds Lackey in this role. Spainhour currently serves as senior vice president and General Counsel for Southern Company Services (SCS) and will maintain his responsibilities for the corporate, energy regulation and technology functions for SCS.

As part of the leadership moves, Pedro Cherry, currently serving as executive vice president of Customer Service and Operations, has been named president and CEO of Atlanta Gas Light and Chattanooga Gas, effective August 1.

“Chris and Pedro have both played an important role in leading our company, each leaving a positive, lasting impact on our state and customers,” said Bowers. “Each of them has always led as a citizen wherever we serve first – helping us navigate how we continue to serve our customers and communities with excellence as our industry evolves.”

Additionally, Georgia Power’s Customer Service and Operations organization will be restructured into two organizations – Power Delivery, and Corporate and Customer Services.

This restructure reflects the company’s focus on maintaining a reliable, resilient electric grid, as well as providing exceptional customer service in communities across the state with both organizations reporting directly to the chairman, president and CEO of Georgia Power.

Glen Grizzle, senior vice president of Power Delivery, will continue as leader of the Power Delivery organization as Georgia Power invests heavily in transmission and distribution infrastructure and strengthening the reliability and resiliency of the electric grid. Grizzle’s responsibilities include overseeing construction, transmission maintenance and support, transmission planning and operations, the company’s Distribution Control Centers, distribution design, performance and planning, distribution management systems, Metro Trouble Services, network underground, the Storm Center and more.

Nicole Faulk, currently vice president of Corporate Services, will now lead the Corporate and Customer Services organization as senior vice president to continue the company’s world-class service to its customers. Faulk will be responsible for customer service, corporate services, and sales and marketing efforts for the company. She will oversee customer satisfaction, the Customer Care Center, customer operations, field services, safety and health, facilities management, fleet management, forestry and right-of-way, shared services, new product development, product distribution, e-commerce, sales management, energy efficiency and more.

About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America’s premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the Company’s promise to 2.6 million customers in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the Company is consistently recognized by J.D. Power and Associates as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the Company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

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SOURCE Georgia Power

Kimbell Royalty Partners Announces Timing of Second Quarter 2020 Earnings Release and Conference Call

FORT WORTH, Texas, June 22, 2020 /PRNewswire/ — Kimbell Royalty Partners, LP (NYSE: KRP) (“Kimbell”), a leading owner of oil and natural gas mineral and royalty interests in more than 96,000 gross wells across 28 states, today announced it will release its second quarter 2020 financial results on Thursday, August 6, 2020, before the market opens.  In conjunction with the release, Kimbell has scheduled a conference call, which will be broadcast live over the Internet the same day at 10:00 a.m. Central (11:00 a.m. Eastern).

By Phone: 

Dial 201-389-0869 at least 10 minutes before the call.  A replay will be available through August 13, 2020, by dialing 201-612-7415 and using the conference ID: 13704472#.

By Webcast: 

Connect to the webcast via the Events and Presentations page of Kimbell’s Investor Relations website at http://kimbellrp.investorroom.com/.  Please log in at least 10 minutes in advance to register and download any necessary software.  A replay will be available shortly after the call.

About Kimbell Royalty Partners

Kimbell (NYSE: KRP) is a leading oil and natural gas mineral and royalty company based in Fort Worth, Texas.  Kimbell owns mineral and royalty interests in approximately 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 96,000 gross wells with over 40,000 wells in the Permian Basin. To learn more, visit http://www.kimbellrp.com.

Contact:
Rick Black
Dennard Lascar Investor Relations
krp@dennardlascar.com
(713) 529-6600

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SOURCE Kimbell Royalty Partners, LP

Contura Announces Strategic Actions to Strengthen Financial Performance

Kielty Mine to Idle Due to Market Conditions; Company Will Not Invest Capital to Build New Impoundment at the Cumberland Mine

BRISTOL, Tenn., June 22, 2020 /PRNewswire/ — Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced strategic actions regarding two of its large properties that will allow the company to further strengthen its financial performance and to rationalize its production in light of market conditions.

Today approximately 170 employees of Spartan Mining Company, LLC were notified of the company’s intention to idle the Ruby Energy (also known as Kielty) underground mine and the Delbarton Preparation Plant, which is operated by Spartan Mining but owned by Delbarton Mining Company, LLC, each in Mingo County, West Virginia, due to sustained adverse market conditions, which have rendered the mine uneconomic. Additionally, approximately 7 employees of Maxxim Shared Services, LLC working at the facilities were notified of the company’s intention to idle the facilities. The Kielty mine produces coal for thermal, industrial, and metallurgical coal markets, and the Delbarton Preparation Plant serves the Kielty mine. In accordance with requirements of the Worker Adjustment and Retraining Notification (WARN) Act, employees were given 60 days’ notice of expected layoffs in connection with the idling of these two facilities.

Additionally, Contura has decided against constructing a new refuse impoundment at its Cumberland Mine in Greene County, Pennsylvania, and will not spend the significant capital of over $60 million that was previously announced in connection with this project. Instead, Contura has entered into amendments of certain of its coal supply agreements such that all of its obligations to supply coal to customers from the Cumberland Mine will expire as of December 31, 2022. In the meantime, Contura plans to actively market the Cumberland property for sale while it continues to supply coal in accordance with the amended agreements. 

Speaking about today’s announcements, Contura’s chairman and chief executive officer David Stetson reiterated the especially adverse market conditions that formed the foundation of these business decisions. “Given the current market conditions and what we expect from the near-term outlook, it is clear that these properties are not economical and will not be able to deliver the kind of value we strive for in our portfolio,” Stetson said. “These are trying times, but we are committed to make the difficult choices necessary to maintain our long-term financial strength.”

ABOUT CONTURA ENERGY

Contura Energy (NYSE: CTRA) is a Tennessee-based coal supplier with affiliate mining operations across major coal basins in Pennsylvania, Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies both metallurgical coal to produce steel and thermal coal to generate power. For more information, visit www.conturaenergy.com.

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements. These forward-looking statements are based on Contura’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Contura’s control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect Contura. Except as required by law, Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur.

INVESTOR CONTACT
investorrelations@conturaenergy.com

Alex Rotonen, CFA
423.956.6882

MEDIA CONTACT
corporatecommunications@conturaenergy.com

Emily O’Quinn
423.573.0369

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SOURCE Contura Energy, Inc.

Albemarle Corporation to release second quarter 2020 earnings results on Wednesday, Aug. 5, 2020

Conference call to be held on Aug. 6, 2020, at 9:00 a.m. ET

CHARLOTTE, N.C., June 22, 2020 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it will release its second quarter 2020 earnings after the NYSE closes on Wednesday, Aug. 5, 2020.

The company will hold its conference call to discuss second quarter 2020 results on Thursday, Aug. 6, at 9:00 a.m. ET. This call will be webcast and can be accessed through Albemarle Corporation’s website at http://investors.albemarle.com, via the webcast link below or by phone at the following number:

US Toll free:                   +1 844 347 1034
International direct:       +1 209 905 5910
Passcode:                      3673986
Webcast:                       Q2 Webcast Link

Due to the COVID-19 pandemic, teleconference providers globally are experiencing increases in conference call volume. To avoid registration wait times, participants are encouraged to use the webcast link as the primary listening source. If a caller is anticipating asking a question, please dial in 15 minutes before the start of the call to be placed in the queue early.

An online replay of this call will be available on Albemarle Corporation’s website (for 12 months) and by phone at the following number (for 7 days):

US Toll free:                   +1 855 859 2056
International direct:       +1 404 537 3406
Passcode:                      3673986

About Albemarle Corporation
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world’s largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.

We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.

 

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SOURCE Albemarle Corporation