Ontario Power Generation is a public company wholly owned by Government of Ontario. OPG is responsible for approximately 50% of the electricity generation in the Province of Ontario, Canada. Sources of electricity include nuclear, hydroelectric, wind, solar and fossil fuel. Although Ontario has an open electricity market, the provincial government, as OPG's sole shareholder, regulated the price the company receives for its electricity to be less than the market average, in an attempt to stabilize prices. Since 1 April 2008, the company's rates have been regulated by the Ontario Energy Board. Wikipedia.
News Article | March 2, 2017
Substantial Growth for Small Hydropower Market in Africa, Latest Study Finds CAGR of 19.2% During 2016-2024 Hydropower is presently one of the most widely researched and utilized renewable source of energy generation. With proper utilization of the vast usable resources of hydropower across the globe, it is possible to generate enough clean energy to provide for a significant portion of the continuously rising demand for energy from the global population. Albany, NY, March 02, 2017 --( Request for Sample Report: http://www.marketresearchhub.com/enquiry.php?type=S&repid=979329 The market analyst has studied that, small hydropower in Africa has huge potential, as yet limited numbers of small hydropower stations are in operation, which makes a positive impact on the market. Additionally, the substantial expansion of hydropower and the increasing prominence to put on hydroelectricity in developing regions are anticipated to be key drivers of the African small hydropower market. The report also adds that the overall competitive scenario within the African small hydropower market is probable to remain diverse over the coming years. The key findings of the study displays that, the African Small Hydropower market’s potential capacity is projected to reach 49,706.1 MW by 2024, after escalating at a CAGR of 19.2% during the forecast period of 2016 to 2024, which is a great extent as compared to 2015 potential capacity, which was only 9,752.9 MW. Moreover, in terms of geography, the Africa small hydropower market is segmented into Zambia, Morocco, South Africa, Tanzania, Nigeria, Ghana, and rest of Africa. Among these, Zambia and Ghana show high potential for small hydropower adoption. Request for Sample Report: http://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=979329 Furthermore, the report describes that today one of the bigger concerns in the world is the provision of greener energy when it comes to power generation. This impacts a region on multiple levels. Therefore, the demand for small hydropower is increasing as these systems use the flow of water to turn turbines that are connected to a generator for the production of electricity, in a similar way to larger traditional hydroelectric systems. This hydroelectric energy is the cleanest form of renewable and has high capacity utilization and plant availability factor. It has been further analyzed by the study that, Off-grid power generation is a highly desirable and viable alternative to solve the energy crisis in Africa. Accordingly, the need for off-grid electricity in the future is growing constantly. Other factors also driving the Africa small hydropower market include the low cost associated with the overall generation of hydropower. Read Full Report with TOC: http://www.marketresearchhub.com/report/small-hydropower-market-africa-industry-analysis-size-share-growth-trends-and-forecast-2016-2024-report.html Some of the crucial players in the small hydropower market so far, have included Mecamidi, Artelia, Lesotho Electricity Company, Agder Energi AS, Ontario Power Generation, Inc., Africa Infrastructure Investment Managers (AIIM), Eco Power Holdings, Alstom SA, Siemens AG, BC Hydro and Power Authority, RusHydro PJSC, ZESCO Ltd., Mozambique Electricity Company etc. About Market Research Hub Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps. MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients. Contact Details: 90 State Street, Albany, NY 12207, United States Toll Free: 866-997-4948 (US-Canada) Tel: +1-518-621-2074 Email: firstname.lastname@example.org Website: http://www.marketresearchhub.com/ Follow Us on: Twitter: https://twitter.com/MktResearchHub LinkedIn:https://www.linkedin.com/company/market-research-hub Facebook: https://www.facebook.com/MarketResearchHub/ Albany, NY, March 02, 2017 --( PR.com )-- According to a new market analysis by Transparency Market Research, renewable energy is developing at a rapid speed and along with this, hydropower remains the most explored and primary source of clean energy. It is because small hydro plants have the productivity over 90% which makes it resourceful and favorable energy among the other renewable sources. To explore the market status and future development of small hydropower, this study analyzes the countries of Africa, therefore titled “Small Hydropower Market- Africa Industry Analysis 2016-2024” and has been recently added to the vast portfolio of Market Research Hub (MRH).Request for Sample Report: http://www.marketresearchhub.com/enquiry.php?type=S&repid=979329The market analyst has studied that, small hydropower in Africa has huge potential, as yet limited numbers of small hydropower stations are in operation, which makes a positive impact on the market. Additionally, the substantial expansion of hydropower and the increasing prominence to put on hydroelectricity in developing regions are anticipated to be key drivers of the African small hydropower market. The report also adds that the overall competitive scenario within the African small hydropower market is probable to remain diverse over the coming years.The key findings of the study displays that, the African Small Hydropower market’s potential capacity is projected to reach 49,706.1 MW by 2024, after escalating at a CAGR of 19.2% during the forecast period of 2016 to 2024, which is a great extent as compared to 2015 potential capacity, which was only 9,752.9 MW. Moreover, in terms of geography, the Africa small hydropower market is segmented into Zambia, Morocco, South Africa, Tanzania, Nigeria, Ghana, and rest of Africa. Among these, Zambia and Ghana show high potential for small hydropower adoption.Request for Sample Report: http://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=979329Furthermore, the report describes that today one of the bigger concerns in the world is the provision of greener energy when it comes to power generation. This impacts a region on multiple levels. Therefore, the demand for small hydropower is increasing as these systems use the flow of water to turn turbines that are connected to a generator for the production of electricity, in a similar way to larger traditional hydroelectric systems. This hydroelectric energy is the cleanest form of renewable and has high capacity utilization and plant availability factor.It has been further analyzed by the study that, Off-grid power generation is a highly desirable and viable alternative to solve the energy crisis in Africa. Accordingly, the need for off-grid electricity in the future is growing constantly. Other factors also driving the Africa small hydropower market include the low cost associated with the overall generation of hydropower.Read Full Report with TOC: http://www.marketresearchhub.com/report/small-hydropower-market-africa-industry-analysis-size-share-growth-trends-and-forecast-2016-2024-report.htmlSome of the crucial players in the small hydropower market so far, have included Mecamidi, Artelia, Lesotho Electricity Company, Agder Energi AS, Ontario Power Generation, Inc., Africa Infrastructure Investment Managers (AIIM), Eco Power Holdings, Alstom SA, Siemens AG, BC Hydro and Power Authority, RusHydro PJSC, ZESCO Ltd., Mozambique Electricity Company etc.About Market Research HubMarket Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.Contact Details:90 State Street,Albany, NY 12207,United StatesToll Free: 866-997-4948 (US-Canada)Tel: +1-518-621-2074Email: email@example.comWebsite: http://www.marketresearchhub.com/Follow Us on:Twitter: https://twitter.com/MktResearchHubLinkedIn:https://www.linkedin.com/company/market-research-hubFacebook: https://www.facebook.com/MarketResearchHub/ Click here to view the list of recent Press Releases from Market Research Hub
News Article | April 17, 2017
MASSENA - Look, up in the sky. It's a bird. It's a plane. Nope, it's not Superman, but rather drones being tested by the New York Power Authority for possible use in the future. Last week, a team from the New York Power Authority joined some Ontario Power Generation representatives to fly a drone around the Robert Moses Dam and St.
News Article | April 26, 2017
Led by Ontario, Canada is looking to fill their looming energy supply gap, and address climate change, by building a fleet of the new super-safe small modular nuclear reactors (SMRs) over the next 20 years. Ontario’s electricity supply is quite low-carbon already, with about 60% nuclear and 20% hydropower, with gas about 10%. Canada overall is about 60% hydropower and 16% nuclear, with the rest spread out among coal, gas and wind. At 50 grams of CO2 per kWh, Canada is one of the cleanest grids in the world. Aggressive targets for further reducing carbon emissions from Ontario resulted in 7 GW of coal-fired generation closing between 2005 and 2014. The province’s largest utility, Ontario Power Generation, replaced all its coal with renewable energy backed-up by natural gas, plus life extensions of almost 7 GW of existing nuclear. In October 2016, Ontario Power Generation started a US$9.6 billion refurbishment project at its 3.5 GW Darlington nuclear plant to extend the lifespan by 30 years. Bruce Power has also begun a US$10 billion life-extension project for its 6.3 GW nuclear plant northwest of Toronto. The utility plans to close its 3 GW Pickering nuclear plant in 2024, so it needs new carbon-free power to ensure Ontario meets its 2030 goal to cut carbon emissions by 37% below 1990 levels, and its even more ambitious 2050 goal of being 80% below 1990 levels. As Nicolle Butcher, Vice President of Strategy & Acquisitions at Ontario Power Generation, told the 2017 International SMR and Advanced Reactor Summit in Atlanta, Georgia last month, “Ontario Power Generation forecasts a significant gap in its power generation mix after 2030, and it intends to fill this gap with nuclear power.” Butcher added that long-term economic uncertainties and a lack of long-term political stability favor SMR plants with short lead times rather than large-scale nuclear projects. Ontario Power Generation has maintained the option to build new nuclear plants by obtaining a 10-year site preparation license in 2012 at its Darlington nuclear plant near Toronto. Canada is a pioneer in nuclear power. The CANDU (CANada Deuterium Uranium) reactor was designed in the 1950s – a heavy water reactor that can make the most of Canada's uranium supplies without the need to enrich. All 19 of Canada's nuclear reactors are CANDU and there are 31 CANDU reactors around the world. A number of advanced nuclear reactor developers are targeting the Canadian market, where a risk-informed regulatory framework is considered more flexible and conducive to licensing new designs than in the United States, and where numerous remote communities and industrial facilities represent captive electricity consumers. Canada even has a fusion reactor design company, General Fusion. Ontario has most of the large-scale nuclear power plants in the country, but several Canadian provinces are seen as potential markets for SMRs, making for a Pan-Canadian nuclear approach with standardized designs. Saskatchewan is a global uranium producer that could easily supply all these reactors with nuclear fuel for centuries. GE Hitachi Nuclear Energy and Advanced Reactor Concepts are jointly developing and licensing a sodium-cooled advanced small modular reactor (aSMR) based on their reactor technologies, and plan to enter the Canadian Nuclear Safety Commission's Vendor Design Review process. In January, NuScale Power out of Oregon announced their submission to the Nuclear Regulatory Commission of the first design certification application for any SMR in the United States. It is expected to be built in the early 2020s. ThorCon has a molten salt design that uses thorium as well as uranium. But Canada’s own new SMR company, Terrestrial Energy Inc. (TEI), has a new small modular Integral Molten Salt Reactor (IMSR) design that is ideal for this future, that is, a nuclear reactor that: - is cheaper than coal and can last for decades longer - is a 400 MWt (190 MWe) modular design, one able to be adapted to needs for both on and off-grid heat and power - is small and modular enough to allow simple construction in under 4 years, and trucking of modules to the site - operates at normal pressures, removing those safety issues, and at higher temperatures, providing more energy for the same amount of fuel - it does not require water for cooling and has the type of passive safety systems that make it walk-away safe - can load-follow rapidly to buffer the intermittency of renewables - generates less waste that is also more easily managed Terrestrial Energy’s reactor uses the natural convection of the molten salt to remove the heat to the vessel walls passively where its containment silo simply adsorbs the heat decay and conducts it away – this is passive cooling at its simplest. The Canadian Power Workers Union is all for expanding nuclear. They understand safe, secure, high-paying jobs. Nuclear is the foundation of Ontario’s and New Brunswick’s electricity systems and nuclear will be providing large volumes of affordable, baseload, low-carbon electricity, week in and week out, for decades to come. Besides, nuclear power shrugs off a Polar Vortex like it’s a summer’s day. Dr. James Conca is an expert on energy, nuclear and dirty bombs, a planetary geologist, and a professional speaker. Follow him on Twitter @jimconca and see his book at Amazon.com
News Article | May 2, 2017
"Rapid transformation is taking place throughout the electric power industry, and innovation is a key component to delivering the safe, reliable, affordable, and clean energy that our customers need and expect," said EEI President Tom Kuhn. "This year's Edison Award finalists each have created new, original energy solutions, as well as sustainable plans to implement them, and are leading our industry in delivering the energy future our customers want." A panel of former electric company chief executives will select the winners for the 90th annual Edison Award, which will be presented in June at the EEI Annual Convention in Boston. American Electric Power (AEP) – In just five years, AEP engineers created an innovative new transmission line design called the Breakthrough Overhead Line Design (BOLD). BOLD is the most transformational line design in almost 50 years – delivering more capacity and higher efficiency in a compact, aesthetic form. Arizona Public Service Company (APS) – APS's Solar Partner Program has broken new ground in the industry by using advanced grid technologies to enable the continued growth of distributed generation, while developing a business model to make rooftop solar available to customers, regardless of income or credit level. The company placed 10-megawatts of rooftop solar panels on the homes of 1,600 customers, and successfully deployed advanced inverters and developed other technologies to manage power quality and reliability issues. Edison International – Southern California Edison built the world's first battery and natural gas turbine hybrid system at two existing peaker power plant sites in collaboration with its strategic partners. These Hybrid Enhanced Gas Turbines have achieved unprecedented levels of operational flexibility and are capable of responding instantaneously to electric system needs while reducing emissions and operating costs. Westar Energy – Westar Energy developed the world's first mobile and adjustable-voltage transformer in order to enhance energy grid resiliency. This transformer can be moved on ordinary semi-trucks and provides 80-percent coverage of critical transformers on the company's transmission system, with the ability to be in place and in operation in a matter of days. Jamaica Public Service – In 2016, Jamaica Public Service worked closely with both internal and external stakeholders to build consensus and execute on its plan to convert the Bogue Power Station from diesel fuel to liquefied natural gas. This was a milestone achievement for Jamaica, as LNG forms an integral part of the country's fuel diversification strategy, and significantly advances JPS' efforts to lower fuel costs and reduce emissions. Ontario Power Generation (OPG) – Following the closure of the last of its coal generating stations in 2014, OPG made significant investments in 2016 with a series of complex and diverse initiatives in pursuit of a lower carbon future. This included a pumped storage project, a groundbreaking nuclear refurbishment, hydroelectric developments, and Indigenous partnerships. Today, OPG is Ontario's largest low-cost clean power generator. Tohoku Electric Power – Tohoku Electric Power's Shin-Sendai Thermal Power Station was severely damaged following the 2011 earthquake that struck Japan. Since the earthquake, Tohoku Electric Power has invested in plant reconstruction and revitalization and development in the disaster-affected areas. As a result, the company has reduced its fuel costs and emissions, increased efficiency, formulated new disaster countermeasures, and accelerated overall efforts to restore and serve local communities. EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eei-announces-finalists-for-2017-edison-award-300449871.html
News Article | February 21, 2017
NucNet: Private companies have invested over $1bn in the development of small modular reactors (SMRs), but more investment through public-private partnerships is needed to assure that SMRs are a viable option in the mid-2020s, the US-based SMR Start industry consortium said in a policy statement. SMR Start is urging Congress to authorize sufficient funds for an SMR commercial deployment program and called for the continuation and expansion of the existing licensing technical support program to include the design and engineering, regulatory review and approval of SMR technologies and facilities. The statement said that in addition to accomplishing the public benefit from SMR deployment, the federal government would receive a return on investment through taxes associated with investment, job creation and economic output over the lifetime of the SMR facilities that would otherwise not exist without federal investment. It also called for continuation of the loan guarantee program to support financing for the design and construction of SMR facilities and SMR component manufacturing facilities. The policy statement is online: http://bit.ly/2kQM1vG Members of the consortium include AREVA, Bechtel, BWXT, Dominion, Duke Energy, Energy Northwest, Fluor, Holtec International, NuScale Power, Ontario Power Generation, PSEG Nuclear, Southern Nuclear, TVA, and UAMPS Plant Vogtle could use new fuel when MOX is complete Augusta Chronicle: Proponents of the Savannah River Site’s mixed-oxide (MOX) fuel fabrication facility are touting the possibility that once in production, its output, PWR type fuel assemblies in the form of MOX fuel, could be used at Units 3 and 4 at Southern Nuclear’s Plant Vogtle. According to Areva Nuclear Materials LLC, one of the companies involved in MOX design and construction, the Energy Department planned for a subsidized cost structure to make the MOX fuel more attractive. Plant Vogtle, which could have four operating reactor units when the MOX plant is finished, could make the switch to the mixed-oxide fuel. Up to one-third of the reactor’s fuel assemblies could be MOX fuel. The advantage of the fuel is that there are longer periods between fuel outages during which time the reactor is not generating electricity nor making any money for its investors. “In order to accommodate the potential use of MOX fuel, modifications would be required for the plant’s physical structure, as well as the processes and procedures used to operate the facility.” He might have also added that the plant would have to modify the NRC license for each reactor based on the change in fuel type. The agency has no experience with this kind of modification of a license. AP: A federal appeals court has rejected a Virginia company’s bid to end the state’s decades-long ban on uranium mining. A panel of the 4th U.S. Circuit Court of Appeals in Richmond has upheld the ruling of a district judge who threw out a lawsuit from Virginia Uranium Inc. challenging the ban. The Pittsylvania County company wants to mine a 119-million-pound deposit of the radioactive ore. It argued that a federal law should pre-empt state regulations, but the courts disagreed. Does India still want the Westinghouse reactors despite Toshiba meltdown? Reuters, PTI: In a burst of what can charitably be characterized as wishful thinking, an Indian government official said he does not expect fallout from the financial meltdown at Toshiba Corp to halt plans to buy six nuclear reactors from the Japanese company’s U.S. nuclear unit Westinghouse. Indian wire services added details to the report. This statement was not made by NPCIL which is the main actor in all matters related to building new nuclear power plants. This raises a question of how credible the statement is as an expression of the Indian’s government’s views on Toshiba’s financial troubles. India has been in talks for years to build six Westinghouse AP1000 reactors in the southern state of Andhra Pradesh under its drive to expand nuclear generation and to move the economy off polluting fuels like coal. “As for the technical execution of the project, I do not see many problems,” Sekhar Basu, secretary of the Department of Atomic Energy that reports directly to Modi, told Reuters in a short telephone interview. The wire service reported that negotiations on the technical and commercial terms of the reactor deal have reached an advanced stage. Not mentioned in the report is any measure of relief from the terms of the supplier liability law that has kept U.S. firms out of the Indian market. Industry experts said that, if the project is still at all viable, the main logistical challenge would be to locate civil engineering contractors since Westinghouse would only provide the reactors. India has not yet signed a contract with Westinghouse, nor has cash changed hands. Basu said that talks on financing had not yet begun in earnest. Significantly, he also said the state-owned Nuclear Power Corporation of India (NPCIL) had yet to be updated by Westinghouse on recent developments. Westinghouse and NPCIL did not respond to requests for comment from wire service reporters. Separately, there is considerable pressure within India’s nuclear industdry to abandon the Westinghouse reactor project and build 700 MW PHWR reactors based on an Indian adaptation of the CANDU technology. Further, an amendment to the enabling legislation for NPCIL allows it to do joint development efforts with heavy industry such as steel and petrochemicals and even provide electricity for India’s vast electrified rail network. This is seen as an advantage and would build domestic capabilities, supply chains, and not have India relying on western technology. Albuquerque Journal: WIPP said it expects to begin accepting shipments of nuclear waste from storage sites around the country in April. Feb 14th marked three years since a radiation accident contaminated the Waste Isolation Pilot Plant outside Carlsbad. After struggling to clean up the deep underground repository, WIPP commenced waste emplacement last month. WIPP has been moving waste drums underground from an above-ground warehouse, where waste was being temporarily held when a drum of radioactive material burst underground on Feb. 14, 2014, and WIPP was shut down. WIPP has started off slowly, making just two emplacements per week from the waste handling building, according to a spokesman. When shipments begin, the facility is aiming to make about four emplacements per week by the end of the year compared with an average of 17 per week before the accident. Los Alamos National Laboratory is on the list of those sites expected to begin shipping in April, along with Department of Energy facilities at Idaho, Oak Ridge and Savannah River. LANL faced its own issues after investigators discovered that the drum that burst at WIPP had been improperly packed by a LANL subcontractor. The Idaho Falls Post Register reported that the Idaho Cleanup Project will send an estimated 61 shipments of radioactive waste to New Mexico’s Waste Isolation Pilot Plant over the next year, more than any other site, U.S. Department of Energy officials said. While Idaho cleanup contractor Fluor Idaho will send more than twice the number of shipments of any other site, it will not be nearly enough to make the necessary progress toward meeting a Dec. 31, 1995, Settlement Agreement deadline with the state of Idaho. Idaho has more than 900 shipments — or more than 20,000 individual containers — of transuranic waste that are supposed to leave by the end of next year.
News Article | February 21, 2017
WASHINGTON--(BUSINESS WIRE)--Rentech, Inc. (NASDAQ: RTK) announced today that its board has decided to idle the Wawa facility due to equipment and operational issues that would require additional unbudgeted capital investment. Today’s decision also results from continued uncertainty around profitability on pellets produced at the facility, making additional investment in the facility uneconomic for Rentech at this time. Idling the plant will allow Rentech to conserve liquidity as it formally explores strategic alternatives for the plant including ongoing discussions with third parties. In conjunction with the strategic review of the Wawa facility, Rentech is also exploring strategic alternatives for the Company as a whole. In addition to these announcements, Rentech is providing updates on its other operating businesses. As noted in prior communications, the Wawa facility experienced equipment and operating challenges subsequent to the replacement of problematic conveyors last fall. These issues have persisted. On February 16, 2017, our board made the decision to suspend operations at the facility. This decision is based in part on our review of the work by a third-party engineering firm to identify necessary capital improvements. While we believe that the issues we have been experiencing at the facility can be resolved with additional capital investments, we have concluded that it is not economical to pursue those investments or to continue to operate the facility at this time. Rentech’s other businesses, including its Atikokan facility, continue to operate without interruption. As a result of this decision, the Wawa operations team will immediately begin a safe and orderly idling of the facility, which the Company expects to complete in approximately two weeks. When the facility is successfully idled, a small workforce will remain in place to maintain the plant so that it can resume operations with minimal cost and time if there is interest from a third party to invest in or purchase the facility. The remainder of the workforce will be placed on a temporary layoff while options for the facility are explored. Rentech expects to incur a significant asset impairment charge relating to the Wawa and Atikokan facilities in its fourth quarter 2016 results. We are reducing production at the Atikokan facility to levels necessary to fulfill the delivery requirements under the Ontario Power Generation off-take contract. We expect the Atikokan facility to generate cash flow in the range of break-even to slightly positive in 2017 under this revised operating plan. Atikokan will no longer ship pellets to the Port of Quebec. We will continue to explore alternatives for selling additional pellets produced from the Atikokan facility to increase its utilization. In the first three quarters of 2016, pellet sales at New England Wood Pellet (NEWP) were negatively impacted by relatively warmer weather than in previous years, continued low-cost heating oil and propane, and changes in consumer buying patterns. The first two issues continued to impact wood pellet sales for the fourth quarter of 2016 and as a result, the market failed to materialize as we had expected. Rentech now expects NEWP to generate Adjusted EBITDA of $4-$4.5 million in 2016. While some of these trends may continue into 2017, we believe that they are temporary in nature and we expect the business will return to historical levels of profitability. Further explanation of Adjusted EBITDA, a non-GAAP financial measure, appears below. A customer of Fulghum Fibres (Fulghum) has indicated its intent to exercise its option to purchase two wood chipping mills that Fulghum is operating for the customer under a processing agreement. The Company expects the loss of the contract to negatively impact Fulghum’s cash flow in the second half of 2017 and going forward. If the purchase option is indeed exercised, the Company expects to receive a one-time cash payment of approximately $5.5 million. Fulghum continues to focus on efficiently operating its remaining 25 mills in the U.S. and 5 mills in South America and explore opportunities to generate additional cash flow. Rentech intends to explore strategic alternatives for the Wawa facility and for the Company as a whole. In conjunction with this process and to address potential future liquidity needs, Rentech is considering strategic alternatives that may include, but are not limited to, a sale of the Company, a merger or other business combination, a sale of all or a material portion of the Company’s assets or a recapitalization. Rentech has retained Wells Fargo Securities, LLC to assist in the strategic alternatives review process. The Company does not intend to disclose developments with respect to this review until either the Company’s board has approved a definitive transaction, it is required to do so by law, or if such disclosure is deemed appropriate. The Company cautions that there is no guarantee that the strategic review will result in a transaction or if a transaction is undertaken, as to its terms or timing. If an appropriate strategic alternative is not achieved on a timely basis, and if the Company were otherwise unable to secure additional sources of funds to address potential future liquidity needs, there could be a material adverse effect on the Company’s business, results of operations, and financial condition. The Company had cash of approximately $20 million as of February 17, 2017 (excluding cash held by its operating subsidiaries in Canada and South America). In addition, the Company expects NEWP and Fulghum to generate positive cash flow and be self-sufficient from a liquidity perspective in 2017. Adjusted EBITDA, which is a non-GAAP financial measure, is defined as net income from continuing operations plus net interest expense, depreciation and amortization, and other income. Adjusted EBITDA is used as a supplemental financial measure by management and by external users of our consolidated financial statements, such as investors and commercial banks, to assess: Adjusted EBITDA should not be considered an alternative to net income, operating income, net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Adjusted EBITDA may have material limitations as a performance measure because it excludes items that are necessary elements of our costs and operations. In addition, Adjusted EBITDA presented by other companies may not be comparable to our presentation, since each company may define these terms differently. The table below reconciles NEWP’s estimated Adjusted EBITDA to estimated net income for 2016. Although the estimates included above reflect our current best estimates, because our audited financial statements for the year ended December 31, 2016 are not yet available, these estimates are preliminary and unaudited and may be revised as a result of management’s further review of our results and the completion of our year-end audit. During the course of the preparation of our financial statements and related notes, we may identify items that would require us to make material adjustments to the preliminary financial information presented above. Rentech, Inc. (NASDAQ: RTK) owns and operates wood fibre processing and wood pellet production businesses. Rentech offers a full range of integrated wood fibre services for commercial and industrial customers around the world, including wood chipping services, operations, marketing, trading and vessel loading, through its subsidiary, Fulghum Fibres. The Company’s New England Wood Pellet subsidiary is a leading producer of bagged wood pellets for the U.S. heating market. Rentech’s industrial wood pellet facilities are designed to produce wood pellets used as fuel for power generation. Please visit www.rentechinc.com for more information. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as: potential strategic alternatives and transactions that Rentech may pursue, our ability to conserve liquidity, and the anticipated performance of our businesses. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Company’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s website at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.
News Article | February 27, 2017
LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) ("BWXT" or the "Company") today reported fourth quarter 2016 revenues of $403.9 million, 11% growth compared to $363.9 million in the fourth quarter of 2015. GAAP earnings per share (EPS) for the fourth quarter of 2016 were $0.34 compared to $0.00 in the fourth quarter of 2015. Adjusted (non-GAAP) EPS from continuing operations for the fourth quarter of 2016 were $0.46 compared to $0.38 in the fourth quarter of 2015. A reconciliation of non-GAAP results is detailed in Exhibit 1. Unless stated otherwise, the results of operations discussed in this release are on a continuing operations basis and exclude the results of operations from our former Power Generation business, which are included as part of discontinued operations in the attached financial statements. GAAP EPS for the full year 2016, which include a $0.14 per share impact of non-cash, mark-to-market loss for pension and other post-retirement benefits, increased to $1.76 compared to $1.31 in 2015. Adjusted EPS for the full year 2016 increased 24% to $1.76 versus adjusted EPS of $1.42 in the prior year. In the fourth quarter of 2016, we adopted new stock compensation accounting rules retrospectively, which resulted in $0.02 per share of additional earnings through reduced provision for income taxes during the nine months ended September 30, 2016. "BWXT closed an outstanding 2016 with an exciting fourth quarter, successfully delivering on our commitments to our customers and our shareholders," said Mr. John A. Fees, Executive Chairman. "We completed the high-quality, strategic acquisition of GE-Hitachi Nuclear Energy Canada Inc., which is now called BWXT Nuclear Energy Canada Inc. With the provincial government's strong commitment to nuclear energy and a low-carbon energy portfolio, we expect to expand the Nuclear Energy business's product and service offering to the Canadian nuclear market and we believe the Canadian refurbishment activities offer significant long-term growth opportunities to BWXT. Our Nuclear Operations business continued to produce near record results and our Nuclear Energy business achieved a 20.3% operating profit margin for the year, which was an 11.8% adjusted operating profit margin when the impact of a reversal of a $16.1 million loss contingency is excluded. Lastly, we continued to increase return to shareholders by repurchasing $293 million of BWXT stock in 2016, increasing our dividend by 50%, and outperforming the market (S&P 500) by more than 1,500 basis points.” The Company’s consolidated GAAP operating income for the fourth quarter of 2016 was $45.8 million compared to GAAP operating income of $9.6 million in the fourth quarter of 2015. Adjusted (non-GAAP) operating income for the fourth quarter of 2016 was $71.8 million compared to adjusted (non-GAAP) operating income of $62.1 million in the fourth quarter of 2015. The increase in GAAP and non-GAAP operating income compared to the prior year period was driven by increases in our Nuclear Operations and Nuclear Energy segments’ operating income. Nuclear Operations segment revenues increased approximately 10.3% to $331.5 million in the fourth quarter of 2016 compared to $300.4 million in the same quarter of 2015 due to increased activity in component manufacturing. Nuclear Operations operating income was a near record $76.6 million in the fourth quarter of 2016, almost 17% higher than the $65.5 million in the prior year period. Revenues from our Nuclear Energy segment grew 18.7% to $49.5 million in the fourth quarter of 2016 compared to $41.7 million in the prior year period, primarily due to higher volume in the equipment business related to the Bruce Power refurbishment activities. Nuclear Energy's operating income was $3.6 million in the fourth quarter of 2016, ahead of the prior year period operating income of $1.6 million. Technical Services segment revenues reached $25.4 million in the fourth quarter of 2016 compared to $22.4 million in the same quarter of 2015 due to increased management and operations activity at certain sites. Consistent with expectations, Technical Services operating income decreased to $1.8 million in the fourth quarter of 2016 from $2.6 million in the prior year period due to increased business development costs, finishing the year within our previously provided guidance range. "BWXT accomplished several key strategic initiatives this year and we are excited about the upcoming prospects for all of our segments as we head into 2017," said Mr. Fees. "Our Nuclear Operations business has a record backlog and several near-term organic growth opportunities related to options that the Navy is considering for expansion of their submarine and aircraft carrier fleet. Our Nuclear Energy segment is positioned for long-term growth as it supports ongoing outage work and the refurbishment activities at Ontario Power Generation and Bruce Power. Furthermore, the addition of BWXT Nuclear Energy Canada to our Canadian Nuclear Energy business is expected to open up new growth opportunities in CANDU fuel, equipment and services. We continue to invest in a robust pipeline of opportunities in the Technical Service segment, and we intend to begin restoring that business to higher levels of profitability over the next few years. Lastly, we remain committed to our balanced capital allocation approach and continue to evaluate opportunities for acquired growth and strategic investments." The Company had net cash from operating activities of $147.4 million in the fourth quarter of 2016 compared with net cash from operating activities of $96.3 million in the fourth quarter of 2015. At the end of the fourth quarter, the Company’s cash and investments position, net of restricted cash, was $149.2 million. As of December 31, 2016, outstanding balances under our credit facility included $285.0 million on our original term loan, $246.0 million term loans made available to us through the September amendment, and letters of credit issued under the facility totaling $154.9 million. As a result, the Company has $245.1 million of remaining availability under our credit facility, taking into account the additional capacity provided by the amendment. The remaining availability excludes the additional $250 million accordion provision. During 2016, the Company paid a total of $293 million to repurchase shares, including $200 million for an accelerated share repurchase (ASR) that we entered into during the third quarter. As of December 31, 2016, $43.0 million remained under our current $300 million share repurchase authorization. On February 24, 2017, our Board of Directors authorized the repurchase of up to $150 million of additional shares over a three year period ending on February 24, 2020. On February 24, 2017, our Board of Directors declared a quarterly cash dividend of $0.09 per common share within restrictions allowed due to the recent ASR. The dividend will be payable on March 29, 2017, to shareholders of record on March 10, 2017. The Company expects to achieve consolidated revenues between $1.60 billion and $1.70 billion in 2017. Adjusted earnings per share for 2017 are expected to be between $1.85 and $1.95, which excludes mark-to-market adjustments for pension and post-retirement benefits. The Company also expects the following for 2017: Beyond 2017, we anticipate an EPS CAGR in the low double digits over the next 3-5 years based upon our robust organic growth strategy and remaining balance sheet capacity. Starting with the quarter ending March 31, 2017, we will report our results in the following three business segments: Date: Tuesday, February 28, 2017, at 8:30 a.m. EST Live Webcast: Investor Relations section of website at www.bwxt.com BWXT cautions that this release contains forward-looking statements, including, without limitation, statements relating to backlog, to the extent they may be viewed as an indicator of future revenues, anticipated benefits of the acquisition of GE-Hitachi Nuclear Energy Canada Inc., management’s plans and expectations for our Nuclear Energy segment and Canadian Nuclear Energy business, potential growth opportunities in our Nuclear Operations segment, management’s intentions for our Technical Services business, as well as our outlook and guidance for 2017. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to execute contracts in backlog; the lack of, or adverse changes in, Federal appropriations to government programs in which we participate; the demand for and competitiveness of nuclear power; capital priorities of power generating utilities; adverse changes in the industries in which we operate and delays, changes or termination of contracts in backlog. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see BWXT’s filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2016 and subsequent quarterly reports on Form 10-Q. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law. Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE:BWXT) is a leading supplier of nuclear components and fuel to the U.S. government; provides technical and management services to support the U.S. government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services and fuel for the commercial nuclear power industry. With approximately 6,000 employees, BWXT has nine major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at a dozen U.S. Department of Energy and two National Aeronautics and Space Administration (NASA) facilities. Follow us on Twitter @BWXTech and learn more at www.bwxt.com.
Yang S.,Ontario Power Generation
Nuclear Engineering and Design | Year: 2010
This paper presents a Leak-Before-Break (LBB) analysis of large diameter main steam line pipes (i.e. NPS 28″ and 30″) running from reactor building to main steam balance header in Pickering nuclear plant Unit 1 and Unit 4. Recent development in LBB technology summarized in U.S. Nuclear Regular Commission report NUREG/CR-6765 was adopted. Based on the tiered approach of LBB philosophy, this LBB analysis belongs to level 2 or level 3 LBB analysis. Detailed fracture tolerance analyses and leakage rate calculations were performed. EPFM (elastic plastic fracture mechanics) theory of J-integral, resistance curve versus ductile crack extension was adopted in carrying out all fracture tolerance analyses. Through-wall cracks in axial and circumferential directions on both straight pipes and elbows were postulated and analyzed. The loads applied on the postulated cracked pipes were obtained from detailed piping stress analysis under deadweight load, design pressure, thermal expansion, seismic design based earthquake (DBE) and thrust load due to the opening of relief valves. J-resistance data were derived from the lowest fracture toughness testing data obtained from Ontario Power Generation's PHT (primary heat transport) LBB material testing programs. A margin of 2 on crack size was chosen in establishing maximum allowable crack sizes. Leakage rates were calculated using SQUIRT Windows Version 1.1 program. The fluid inside the main steam line pipes was assumed single phase steam at 100% quality. One tenth of the calculated leakage rates was proposed as the requirement for minimum leakage detection capability. The paper concludes that the absence of through-wall crack larger than 91.16 mm in length should be maintained in order to ensure the structural integrity of large diameter main steam line pipes. In lieu of this crack size requirement, a reliable leakage detection capability which could quantify mass steam leakage rate of 0.01678 kg per second, or volume leakage rate of 1.01 l/min, should be in place. If both of the above two requirements are met, the Leak-Before-Break of these large diameter main steam line pipes is warranted. © 2010 Elsevier B.V. All rights reserved.
Ontario Power Generation | Date: 2014-12-17
A device and method for performing ultra-sound scanning of a substantially cylindrical object, the device comprising a cuff adapted to fit around a circumference of the object, an ultrasound probe mounted about the inner circumference of the cuff and positioned to scan the circumference of the object, and one or more data connections providing control information for the ultrasound probe and receiving scanning data from the ultrasound probe. The probe includes one or more sensors to determine its orientation or location, and this data is used to control the operation of the device and to process data from the array.
Ontario Power Generation | Date: 2012-09-26
A device and method for performing ultrasound scanning of a substantially cylindrical object, the device comprising a cuff adapted to fit around a circumference of the object, a carrier mounted slidably on the cuff and adapted to traverse the circumference of the object, an ultrasound probe mounted on the carrier and positioned to scan the circumference of the object as the carrier traverses the circumference of the object, a carrier motor mounted on the cuff or the carrier and used to drive the movement of the carrier about the circumference of the object, and one or more data connections providing control information for the carrier motor and the ultrasound probe and receiving scanning data from the ultrasound probe.