MILWAUKEE, April 18, 2019 /PRNewswire/ -- WEC Energy Group unveiled a report on the company's strategy to reduce costs to customers, preserve fuel diversity and reduce carbon emissions through changes to its generation fleet.

The report – "Pathway to a Cleaner Energy Future" – illustrates the approach WEC Energy Group is taking to reduce emissions and presents a wide-ranging analysis of factors that will help shape future decision-making.

"At this pivotal time in the energy industry, we have made it a priority to reduce greenhouse gas emissions while maintaining a reliable, resilient and cost-effective energy system for our customers," said Gale Klappa, executive chairman – WEC Energy Group.

The company's long-term strategy reflects its focus on environmental stewardship. In 2016, WEC Energy Group set a goal to reduce total carbon emissions by 40 percent, compared to 2005 levels, by the year 2030. The company is on track to meet that goal by 2023 and has announced a new goal of reducing carbon emissions by 80 percent from 2005 levels by 2050.

"When we set a goal, you can count on the fact that we have analyzed the risks, benefits and feasibility," said Kevin Fletcher, president and CEO – WEC Energy Group. "We're confident in our ability to achieve our 80 percent reduction goal, but it will require significant effort, continued improvements in technology and reshaping our generation fleet."

Report highlights

  • Emission reductions
    • By 2030, the company's goal is to reduce total carbon emissions by 40 percent. To help achieve that goal, the company projects more than 70 percent of its electricity supply will come from low-and no-carbon sources.
    • By 2050, the company's goal is to reduce carbon emissions by 80 percent. To achieve that goal the company projects 100 percent of electricity supply to come from low- and no-carbon sources.
  • Investments – WEC Energy Group expects to invest more than $14 billion between 2019 and 2023, with a focus on:
    • Reshaping its generation fleet for a clean, reliable future.
    • Modernizing electric and natural gas delivery infrastructure.
    • Launching advanced metering functionality and upgrading systems and equipment.
  • Business and climate strategy – the company strives to provide the best value for customers by embracing constructive change, demonstrating personal responsibility for results, and using creative solutions to meet or exceed customers' expectations.

The report incorporates industry-specific research from the Electric Power Research Institute and global emissions scenarios used by the Intergovernmental Panel on Climate Change. It includes research and analyses testing the resilience of WEC Energy Group's strategy in different climate-related scenarios – including scenarios consistent with limiting a global temperature rise to less than 2 degrees Celsius.

WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.

The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.

WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 50,000 stockholders of record, 8,000 employees and more than $33 billion of assets.

Cautionary statement regarding forward-looking information

Certain information contained in this press release is forward-looking information based upon management's current expectations and projections that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning future carbon emissions, capital plans and expenditures, investment opportunities, corporate initiatives, the purchase of solar and wind energy, and sources and costs of fuel. Readers are cautioned not to place undue reliance on this forward-looking information. Forward-looking information is not a guarantee of future performance and actual results may differ materially from those set forth in the forward-looking statements.

In addition to the assumptions and other factors referred to in connection with the forward-looking information, factors that could cause the company's actual results to differ materially from those contemplated in any forward-looking information or otherwise affect the company's future results include, among others, the following: general economic conditions, including business and competitive conditions in the company's service territories; timing, resolution and impact of rate cases and negotiations, including recovery of deferred and current costs and the ability to earn a reasonable return on investment, and other regulatory decisions; political developments; energy conservation efforts; continued adoption of distributed generation by customers; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs or availability; key personnel changes; varying weather conditions; continued industry consolidation; cybersecurity and terrorist threats; construction risks; equity and bond market fluctuations; the remaining uncertainty surrounding the tax legislation enacted in December 2017; federal and state legislative and regulatory changes relating to the environment, including climate change and other environmental regulations impacting generation facilities and renewable energy standards, the enforcement of these laws and regulations, changes in the interpretation of regulations or permit conditions by regulatory agencies, and the recovery of associated remediation and compliance costs; the performance of projects the company's energy infrastructure business invests in; the ability to obtain additional generating capacity at competitive prices; current and future litigation and regulatory investigations; the inability of customers, counterparties, and affiliates of the company and its subsidiaries to meet their obligations; advances in technology, and related legislation and regulation supporting the use of that technology; the value of goodwill and its possible impairment; changes in accounting standards; and other factors described under the heading "Factors Affecting Results, Liquidity, and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended Dec. 31, 2018, and in subsequent reports filed with the Securities and Exchange Commission. The company expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE WEC Energy Group

Related Links

http://www.wisconsinenergy.com

Read more: WEC Energy Group report details pathway to...

WALLOPS ISLAND, Va., April 18, 2019 /PRNewswire/ -- Mission Success yesterday for Indiana's NearSpace Launch Inc. (NSL) ThinSat constellations launched off the Antares NG-11 on route to International Space Station. The 60 ThinSat were developed for Virginia Space as a STEM program for middle and high schools. Over 400 students participated in the testing and delivering of experiments in orbit today. The school teams were overseen by Twiggs Space Labs.   

Co-founder of Twiggs Space Labs and Co-Inventor of the CubeSat, Bob Twiggs, states, "Our goal is to inspire future generations of engineers and scientists through innovation in the field of space." Twiggs goes further to say, "To me, this (ThinSat launch) is the most exciting day of my career." 

ThinSat is a new pioneering model for satellites that are scalable, simpler, and more affordable. Their focus is to broaden access to space for educational and space research participants.

The ThinSat comes in an array of sizes that comply with the CubeSat launcher. The 11.2 cm by 11.7 cm by 2 cm ThinSat version was the first model to launch this week. The ThinSat team choose to use EyeStar radios and Alta Devices solar technology. The NSL's EyeStar radios allow for 24/7 connectivity via Globalstar's constellation. Alta Devices solar cells provide a unique modular, lightweight, flexible form factor with high efficiency characteristics.

The ThinSat inventor and co-founder of NSL, Hank Voss states, "ThinSats will travel in a region of the atmosphere that is important to climate and space weather forecasts, but rarely studied because atmospheric drag makes it hard to keep satellites there," Voss also expressed, as an emeritus professor, he is "thankful to Virginia Space and Twiggs Space Labs for investing into the project that has a such strong STEM and research outreach."   

About NearSpace Launch, Inc.

NearSpace Launch, Inc. (NSL) based in Upland, IN. NSL has 100% mission success with over 60 systems flown in the past four years. Hank Voss & Jeff Dailey founded NSL following the successful mission of TSAT. The mission proved the effectiveness of a Globalstar radio connection for orbital radio communication. NSL manufactures and produces ThinSats, CubeSat satellites, 24/7 real-time EyeStar communication systems, and high-altitude balloons for a variety of educational, commercial, and government applications. For more information with images visit www.nearspacelaunch.com

Contact:
Matthew Voss
This email address is being protected from spambots. You need JavaScript enabled to view it.

SOURCE NearSpace Launch Inc. (NSL)

Related Links

www.nearspacelaunch.com

Read more: 60 ThinSat Constellation focused on STEM,...

NEW YORK, April 18, 2019 /PRNewswire/ -- Hunt Capital Partners, the tax credit syndication division of Hunt Companies, Inc., announced today it will co-host the Novogradac 2019 Investing In Puerto Rico Conference. The event is May 9-10 at the Sheraton Puerto Rico Hotel & Casino in San Juan. The conference focuses on the strategies and practical solutions to encourage investment in affordable housing in Puerto Rico and the U.S Virgin Islands.

The agenda includes diverse topics for community development investors and others. Sessions planned are:

  • Investment and lending outlook for Puerto Rico and the U.S. Virgin Islands
  • Best practices for Community Development Block Grant-Disaster Recovery funds
  • Other key subsidy programs to help development in Puerto Rico
  • Opportunity Zone, LIHTC, RAD, and NMTC Basics

"Puerto Rico has had a rough couple of years with devastating storms and economic downturns impacting the region and the overall housing market," noted Jeff Weiss, President of Hunt Capital Partners. "This conference offers investors a terrific two-day opportunity to learn how to make a significant impact in restoring affordable housing locally."

Hunt Capital Partners recently collaborated with McCormack Baron Salazar, the Puerto Rico Housing Finance Authority, and Citibank to raise more than $50 million in tax credit equity for a pair of San Juan developments known as Renaissance Square and Bayshore Villas. Completed in February 2019, the 140-unit Renaissance Square was the first development under the Puerto Rico Comprehensive Housing Plan and the island's first mixed-income development. Bayshore Villas features 174 units and an estimated completion date in Summer 2019.

"Hunt's diverse and interconnected platform offers a one-stop shop for developers and investors looking to create affordable housing," Weiss added. "We can invest, develop, and finance affordable housing anywhere. Hunt Companies offers a complete range of services spanning conventional multifamily, affordable housing, commercial real estate and infrastructure. These complementary offerings help our clients achieve tremendous efficiencies. This conference is the perfect venue to showcase our broad range of capabilities and seamless execution as we embark upon an investing strategy in the region."

For more information on the event, visit: https://www.novoco.com/events/novogradac-2019-investing-puerto-rico-conference

About Hunt Capital Partners
Hunt Capital Partners (HCP) is the syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits. Since the successful launch of its first fund in the fall of 2011, HCP has raised over $1.7 billion in tax credit equity. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt's affiliates and investees include investment management, mortgage banking, direct lending, loan servicing, asset management, property management, development, construction, consulting and advisory. For more information on Hunt Capital Partners, please visit www.huntcapitalpartners.com, or for Hunt Companies, please visit www.huntcompanies.com.

MEDIA CONTACTS   
Brent Feigenbaum
Hunt Real Estate Capital
212-317-5730
This email address is being protected from spambots. You need JavaScript enabled to view it.

Pam Flores
773-218-9260
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SOURCE Hunt Mortgage Group

Related Links

https://huntcapitalpartners.com

Read more: Hunt Capital Partners Co-Hosting 2019 Investing...

PHOENIX, April 18, 2019 /PRNewswire/ -- Top energy companies – including GE Energy Storage, Panasonic, LG Chem Power and Duke Energy -- joined the Energy Storage Association today to make safety a priority when manufacturing and operating energy storage systems.

ESA formally launched the Energy Storage Industry Corporate Responsibility Initiative and pledge at its Annual Energy Storage Conference & Expo in Phoenix. To date, 30 companies have signed the pledge, emphasizing their commitment to the well-being and safety of consumers. At the conference, ESA and the signatory companies launched a task force to develop best practices for potential operational hazard prevention, end-of-life recycling and responsible supply-chain practices.

"The U.S. energy storage market nearly doubled in 2018 and is expected to double again in 2019, so this marks an ideal time for the industry to demonstrate their commitment to corporate responsibility," said ESA CEO Kelly Speakes-Backman. "Representing the national trade association and the voice of the energy storage industry, I can say unequivocally that the industry stands ready to tackle the topics outlined in the Corporate Responsibility Initiative in a proactive and direct manner."

Here is a list of the companies that signed the pledge:

Amber Kinetics

Engie

LG Chem Power, Inc.

Ameresco

EsVolta

Li-Ion Tamer

Ascend Analytics

Eversource

LS Energy Solutions

Borrego Solar

EVgo

NEC

Clearway

Fluence

NEXTracker

CSA Group

GE Energy Storage

Panasonic

Duke Energy

Highview Power Storage

Renewance

Dimension Energy

Hyosung

STEM

Dynapower

Ingersoll Rand

Swinerton

Enel Green Power

Invenergy

UL

About The Energy Storage Association

The Energy Storage Association (ESA) is the national trade association dedicated to energy storage, working toward a more resilient, efficient, sustainable and affordable electricity grid – as is uniquely enabled by energy storage. With more than 160 members, ESA represents a diverse group of companies, including independent power producers, electric utilities, energy service companies, financiers, insurers, law firms, installers, manufacturers, component suppliers and integrators involved in deploying energy storage systems around the globe. More information is available at: www.energystorage.org.

SOURCE Energy Storage Association

Related Links

http://www.energystorage.org

Read more: Leading Energy Companies Join Together to Put...

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