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Agreement with Japanese company boosts fortunes of planned hydropower project near Alaska’s capital, developers say

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Agreement with Japanese company boosts fortunes of planned hydropower project near Alaska’s capital, developers say


Sweetheart Lake south of Juneau, seen from the air in 2017, would be the website of a brand new hydroelectric challenge supplying the Kensington mine and different Juneau-area clients, below a plan that’s the topic of a improvement settlement with a significant Japanese hydroelectric firm. (Picture by Robert Johnson/Supplied by Juneau Hydropower)

A brand new settlement with Japan’s main hydroelectric operator will give the long-planned Sweetheart Lake challenge south of Juneau a lift towards improvement, builders selling the challenge stated on Thursday.

The settlement is between Juneau Hydropower, the company planning the Sweetheart Lake hydro challenge, and J-Energy, a significant Japanese hydroelectric firm.

The Sweetheart Lake challenge is deliberate and permitted for a website about 30 miles south of Juneau within the Tongass Nationwide Forest; J-Energy, which signed the challenge improvement settlement in July, constructed and owns and operates 61 hydroelectric services, and it operates 1,500 miles of transmission traces in Japan, representatives of the businesses stated at an Anchorage information convention held Thursday.

“What it does is it permits us to accomplice with a group participant who’s received a particularly deep bench,” Duff Mitchell, managing director of Juneau Hydropower, stated in an interview on Friday.

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The Sweetheart Lake challenge would have a capability of 19.8 megawatts and guarantees to spice up Juneau’s power era by a fifth, in response to Mitchell’s estimates. The price is estimated at over $200 million.

Beneath the joint improvement settlement, J-Energy can have some possession share within the challenge, however that share is but to be decided, Mitchell stated.

The cornerstone consumer might be Coeur Alaska’s Kensington mine, a gold producer north of Juneau.

On the Anchorage information convention held Thursday, Stephen Ball, Coeur Alaska’s normal supervisor, referred to as the prospect “thrilling.”

“From our perspective, the chance to deliver clear hydropower to Kensington is a root driving pressure for us. It offers us the chance to get off of diesel energy and onto clear power,” Ball stated.

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Past Kensington, Mitchell stated, there is a chance for Juneau’s electrical utility, Alaska Electrical Gentle and Energy.

Moreover, it should assist deliver Juneau nearer to the targets of its 2011 local weather motion plan, which requires a 25% discount in greenhouse gasoline emissions by 2032, Mitchell stated.

Development is predicted to begin subsequent 12 months, with operations beginning two or three years after then, Mitchell stated.

The Sweetheart Lake challenge has been within the works for greater than a decade.

The preliminary software for a license from the Federal Vitality Regulatory Fee was filed in 2009. From then till 2016, the method went via quite a few allowing steps, together with an environmental impression assertion. All required permits had been accomplished by 2016, Mitchell stated.

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To adjust to the Roadless Rule within the Tongass, the challenge was designed with a tunnel for use because the transportation route for automobiles and gear transferring from the near-tidewater energy station to the water-supply lake. After building, gear that’s wanted for operations might be left on the higher finish of the tunnel, whereas building gear not wanted might be pushed all the way down to the facility station website, Mitchell stated. After that, the tunnel might be transformed to a line for water transport, he stated.

“We needed to be somewhat bit artistic,” Mitchell stated

Although the challenge is situated south of Juneau, it requires transmission north. The plan is for an 8.6-mile transmission line from the facility plant to the present Juneau grid, after which a 31-mile transmission line north from there to the Kensington mine.



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Alaska

Nascar Legend rockets around the track for the Great Alaska Dirt Shootout

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Nascar Legend rockets around the track for the Great Alaska Dirt Shootout


FAIRBANKS, Alaska (KTVF) -Dirt track racing… Some will say it’s the last true form of grass roots racings.

Cars built and worked on by those who drive them, and this past weekend was the 11th Annual Great Alaska Dirt Shootout.

The two day event brings in talent from all over Alaska, and even a Nascar legend. We spoke with this year’s special guest on the fun of coming up to the most northern dirt track in America.

“I mean, it’s dirt track racing, and Montee Pearson gave me a good car to drive and just come up here and do something I’ve never done before, and that’s racing in Alaska.

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The “Rocket Man’’ Ryan Newman, known for his qualifying ability and spending his career on the asphalt, held his own against some of Alaska’s best on dirt, even with the extremely limited seat time. “I have never driven one of these cars until yesterday before, so had no practice, no qualifying straight to a first heat race, and we finished worse than third. So I know we’re getting beat, but we’re getting beat by guys with a lot of time around here and lots of laps, and in these kinds of cars, so I’m just trying to gain some experience and have fun as I go.”

Newman would do exactly that on the weekend, while having fun as he goes. He would see three third place finishes and two second place finishes, to end up second overall in points on the weekend.

Although he was impressed with the racing, what impressed him the most was all the family in attendance. “I was impressed yesterday with the amount of families that were here. Meeting the number of kids that were here with the parents, and now it’s a great opportunity that’s racing in general, Nascar as well, but racing in general is a great family sport. Great opportunity to bring your kids out for a reasonably priced good time and entertainment, so that’s what I would say is come out with your family and enjoy a good time.”

Download the Newscenter Fairbanks apps today and stay informed with the latest news and weather alerts.

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Denali National Park plans to re-open on Wednesday

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Denali National Park plans to re-open on Wednesday


Denali National Park plans to fully re-open to visitors on Wednesday, and that includes bus tours into the park.

Employees who live in the entrance area were invited to return to their homes Saturday night, as the evacuation status for the area was lowered to Green/Ready status.



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State of Alaska Department of Revenue Sells 1,005 Shares of Jacobs Solutions Inc. (NYSE:J)

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State of Alaska Department of Revenue Sells 1,005 Shares of Jacobs Solutions Inc. (NYSE:J)



State of Alaska Department of Revenue reduced its position in Jacobs Solutions Inc. (NYSE:J – Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,272 shares of the company’s stock after selling 1,005 shares during the quarter. State of Alaska Department of Revenue’s holdings in Jacobs Solutions were worth $2,500,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Boston Partners lifted its stake in Jacobs Solutions by 268.4% in the fourth quarter. Boston Partners now owns 2,891,429 shares of the company’s stock valued at $375,623,000 after buying an additional 2,106,589 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Jacobs Solutions by 134.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,658,049 shares of the company’s stock valued at $215,215,000 after acquiring an additional 951,369 shares during the period. Ceredex Value Advisors LLC boosted its stake in Jacobs Solutions by 117.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 615,289 shares of the company’s stock worth $79,865,000 after acquiring an additional 332,053 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Jacobs Solutions by 14,897.6% in the fourth quarter. Panagora Asset Management Inc. now owns 321,548 shares of the company’s stock worth $41,737,000 after purchasing an additional 319,404 shares during the period. Finally, Baupost Group LLC MA increased its stake in Jacobs Solutions by 49.2% in the fourth quarter. Baupost Group LLC MA now owns 727,786 shares of the company’s stock valued at $94,467,000 after purchasing an additional 240,000 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Down 1.3 %

NYSE:J opened at $136.74 on Friday. Jacobs Solutions Inc. has a 52 week low of $119.76 and a 52 week high of $154.50. The firm has a 50-day moving average price of $139.74 and a two-hundred day moving average price of $140.87. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17.

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Jacobs Solutions (NYSE:J – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. Jacobs Solutions’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. On average, equities analysts expect that Jacobs Solutions Inc. will post 7.98 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 24th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.85%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird reduced their target price on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Bank of America increased their target price on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Citigroup boosted their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Argus raised their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.82.

View Our Latest Report on Jacobs Solutions

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Insiders Place Their Bets

In related news, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total value of $217,965.00. Following the transaction, the chief financial officer now owns 231,604 shares in the company, valued at $33,654,377.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kevin C. Berryman sold 1,500 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total transaction of $217,965.00. Following the completion of the transaction, the chief financial officer now owns 231,604 shares in the company, valued at approximately $33,654,377.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $139.43, for a total value of $976,010.00. Following the transaction, the insider now owns 541,138 shares of the company’s stock, valued at approximately $75,450,871.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,500 shares of company stock valued at $3,180,575. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Company Profile

(Free Report)

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.

Further Reading

Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)



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