Shore Power Market to Reach $2.7Bln by 2024
The global shore power market is estimated to be valued at USD 1.4 billion in 2019 and is projected to reach USD 2.7 billion by 2024, at a CAGR of 13.3% during the forecast period.Reduction of low-frequency noise and emissions at ports, a growing number of cruise liners in the shipping industry, and installation of retrofit shore power systems have increased the demand for a shore power system, said a report by ResearchAndMarkets.However…
Schneider Electric Supports UK Shipping and Port Industry
By plugging into the power grid with 100 per cent renewable electricity and turning off their diesel engines, ships at berth in the UK would reduce emissions equivalent to 84,000 to 166,000 diesel buses – or 1.2 million diesel cars representative of the current UK fleet. The pressure is mounting for the UK to align with EU air pollution emission targets, and ships at berth need to cut their fuel consumption and port authorities and terminal operators need to integrate shore power capabilities in a simpler and more efficient way.
Antwerp Port Pushes Onshore Power for Ships
The Antwerp Port Authority aims to create the necessary conditions to supply onshore power for seagoing ships in the port. In order to realize this ambition, it will sign two agreements on Friday, 23 March, during the World Ports Sustainabaility Program-event in Antwerp. The first agreement will receive the signatures from the Port Authority and Alfaport-VOKA, the representative of the private port community whose support is essential for the project to succeed.
Investors Welcome Signals Siemens CEO Will Stay On
Siemens Chief Executive Joe Kaeser has signaled he wants to renew his contract when it runs out in 2018, a move welcomed by investors who have grown to trust the 59-year-old company veteran. Kaeser ousted his predecessor Peter Loescher in a boardroom coup in July 2013 when he was finance chief. Since then he has streamlined the German group to focus on its strengths in industrial engineering, raised profitability and seen the share price respond this year. There is still work to be done but investors believe Kaeser deserves a new contract.
KONGSBERG, Schneider Join Forces for Energy Solutions Development
Kongsberg Maritime and Schneider Electric have signed a global partnership agreement to further the development and delivery of KONGSBERG K-Power switchboards and related systems for offshore and maritime markets. The partnership with Schneider Electric strengthens Kongsberg Maritime’s ‘Energy Solutions’ strategy, which was established in 2015 to meet global demand for energy management applications with a technology edge, and supports the new portfolio of new ‘Integrated’ vessel concepts launched at ONS 2016.
SMA Solar, Siemens Join Foreces to Target Large Solar Projects
Germany's SMA Solar and engineering company Siemens have teamed up to equip utility-scale solar parks with technology to link them to power grids in an effort to benefit from rising global demand for photovoltaics. Demand for solar panels has grown steadily in recent years as governments have sharpened their focus on renewable energy sources and pledged to reduce carbon emissions and exposure to conventional fossil fuel-based energy.
Siemens CEO Discounts Impact of Oil Slide
Comments come after ConocoPhillips announces budget cut; oil prices at five-year low. Siemens Chief Executive Joe Kaeser sought to calm concern that a slide in prices would hurt an oil and gas business on which the German engineering group has spent billions of euros. Kaeser, who took the helm in a boardroom coup last year, splashed out $7.6 billion in September to buy U.S. oilfield equipment maker Dresser-Rand, paying a relatively high price to beef up the group's presence in the U.S. shale oil and gas industry.
Schneider Looks at 130 Job-cuts in France
Electrical equipment maker Schneider Electric could cut over 130 jobs in France as it restructures its production of prefabricated power substations and shrinks the segment's staff by a third, a company spokesman told Reuters. Talks with labour representatives over a redundancy plan will start in December, the spokesman said, confirming a planned restructuring that the CFDT metal workers' union condemned in a statement on Thursday. Substations…
Solar Latecomer France Builds Europe's Largest Plant
France has made up some lost ground against its neighbours with the start to construction of what will be Europe's biggest photovoltaic solar power plant. Solar power capacity has grown slowly in France compared to Germany, Spain or Italy. It had 5,095 MW of photovoltaic capacity in June, which accounted for only 1 percent of its energy consumption in the first half of the year, and compares with nearly 37,000 MW in Germany. The new…
Ivory Coast One of the Best Bets in Africa
Three years after disputed elections led to bloodshed, Ivory Coast has emerged as one of the most exciting opportunities for private equity investors in Africa, with a dynamic workforce keen to put a decade of turmoil behind it, a senior investor said on Friday. Jean-Michel Severino, chairman of Paris-based Investisseurs & Partenaires, said its two funds totaling 65 million euros aimed to provide investors with returns of up to 10 percent a year while fostering social development in Africa.