Some of the biggest U.S. power companies said they are pushing ahead with investments in renewable and gas-fired electricity, regardless of the Trump administration’s move to repeal Obama-era federal limits on carbon emissions at power plants.
NYS Entity Status
NYS Filing Date
FEBRUARY 12, 2013
NYS DOS ID#
NYS Entity Type
FOREIGN LIMITED LIABILITY COMPANY
2013 - GREEN POWER DEVELOPERS LIMITED LIABILITY COMPANY
Around the Web
- Power Companies to Stick With Plans Despite EPA's Emissions Repeal
Wednesday Oct 11, 2017
- Finally, Something Good From Yahoo
Sunday Jul 2, 2017
An investment in its offspring, Altaba, offers a high reward if management can reduce its tax liability, and it has limited downside.
- Apple Issues $1 Billion Green Bond Sale to Fund Renewable Energy
By Joe Rossignol - Tuesday Jun 13, 2017
Apple today issued a $1 billion green bond to fund renewable energy generation, according to Bloomberg.
Apple reportedly said it plans to use the proceeds to finance projects involving renewable energy resources and energy efficiency, including advancing its goal of achieving a closed-loop supply chain, through which products are made using only renewable resources and recycled material.
By turning to the debt market, Apple is able to fund its sustainability initiatives without tapping into its offshore cash reserves. Those dollars would be subjected to a 35 percent corporate tax rate if they were repatriated in the United States.
U.S. President Donald Trump has reportedly proposed offering a one-time tax holiday where companies like Apple can repatriate large amounts of foreign cash at a reduced tax rate of between 10 and 15 percent. But, as of this month, the relevant corporate tax laws have yet to be reformed in the country.
Apple's bond offering comes just two weeks after Trump withdrew the United States from the Paris climate accord, an agreement signed by over 140 countries that vow to reduce greenhouse gas emissions in an effort to mitigate climate change. Apple CEO Tim Cook said Trump's decision was "wrong for our planet."
An excerpt of Cook's internal memo to Apple employees:
Climate change is real and we all share a responsibility to fight it. I want to reassure you that today's developments will have no impact on Apple's efforts to protect the environment. We power nearly all of our operations with renewable energy, which we believe is an example of something that's good for our planet and makes good business sense as well.Apple's preliminary prospectus supplement filed with the Securities and Exchange Commission today confirms the bonds will mature in 2027. The sale was arranged by Goldman Sachs, Bank of America Merrill Lynch, and J.P. Morgan.
Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.
Discuss this article in our forums
- Hamburg ready to fill up with hydrogen. Customers aren’t so sure
By Stanley Reed - Friday Jul 7, 2017
HAMBURG, Germany — With its sleek architecture, the gas station in this city’s famous warehouse district hints at the future of fueling.On a recent spring day, the only people using the pumps were employees, learning to fill the company car.Swedish energy company Vattenfall built the station in 2012, anticipating growing numbers of hydrogen-powered cars, and especially buses, that would guzzle large volumes of the fuel.[...] hydrogen is still stuck in the prototype stage, struggling with high costs, competition from electric vehicles, and worries, perhaps exaggerated, about the risks.“We try not to have lunch here or have guests stay too long,” Arne Jacobsen, a Vattenfall business development manager, said in a room where hydrogen gas was stored in pressurized tanks.The German government, along with private companies like Royal Dutch Shell, Daimler and industrial gas giant Air Liquide, has invested about $1.6 billion over the past decade to nurture the development of hydrogen vehicles.In Hamburg, Germany’s second-largest city and busiest port, the money has helped build a small network of filling stations, encouraged road trials of hydrogen-powered city buses, and funded research.Germany has only about 260 passenger cars on the roads, and 16 buses, that are powered by hydrogen fuel cells.The regional authorities want to reduce air pollution from the growing volumes of traffic on the roads and from smoke-belching cruise liners and other ships in the port, while at the same time stimulating business and jobs based on clean energy.In another green wrinkle, making hydrogen on a large scale could soak up excess electricity produced by the many wind farms near Hamburg.If the orders are fulfilled, Schrank estimated the project would break even, based on the investments by Alstom and the German government, which has put in $8.9 million.Airbus has experimented with using hydrogen to power a plane’s emergency electrical systems and when it is on the ground, potentially a big pollution reducer.“Our aircraft do go to some very remote places,” said Barnaby Law, the company’s project director for hydrogen and fuel cells, who is based in Hamburg.The technology also faces a perception problem stretching back to the Hindenburg air disaster in 1937, when a hydrogen-filled airship exploded in New Jersey.
- State senator: PG&E should be “split” if negligence caused fires
By David R. Baker - Tuesday Oct 17, 2017
The fires still burning across the Wine Country could pose an existential threat to California’s largest utility, Pacific Gas and Electric Co. PG&E's stock price is down 17 percent since Oct. 11, when state fire officials said they would investigate whether PG&E’s power lines, blown by fierce winds, played a role in sparking the fires. One analyst estimated the company could face liabilities topping $12 billion if investigators blame PG&E. Indeed, what appears to be the first lawsuit faulting PG&E for the fires was filed Tuesday by a Santa Rosa couple who lost their home. The company had just begun to put the deadly 2010 San Bruno pipeline explosion — which led to a $1.
- Woody Allen’s ‘Wonder Wheel’ set to close NY Film Festival
By Deadline - Tuesday Jul 25, 2017
The film will go into limited release December 1.