Saturday's energy & environment stories

Aug 1, 2020 - World

United Arab Emirates nuclear plant starts first reactor

A nuclear power plant in the United Arab Emirates successfully activated its first reactor on Saturday, the AP reports.

Why it matters: The $20 billion Barakah nuclear power plant, located near the country's western border with Saudi Arabia, was built with the help of South Korea and is the first nuclear power plant on the Arabian Peninsula.

Go deeper: UAE launches its first mission to Mars

Jul 31, 2020 - Energy & Environment

GM and EVgo plan to expand fast-charging network for electric vehicles

EVgo fast chargers will be located in cities and suburbs. Photo: GM

General Motors and EVgo plan to add more than 2,700 new public fast-charging stations in the next five years as a way to help accelerate widespread electric vehicle adoption.

Why it matters: Automakers are bringing out scores of new battery-powered models, but before they buy, consumers want confidence that they'll be able to charge even when they're away from home.

Ben Geman, author of Generate
Jul 31, 2020 - Energy & Environment

China's Kandi aims to provide the lowest-cost electric vehicle in the U.S. market

Kandi Model K27. Image courtesy of Kandi America

Kandi America's Model K27, a small EV from the U.S. subsidiary of China's Kandi Technologies Group, is slated to begin limited U.S. delivery late this year.

Why it matters: The cost — Kandi says the K27 starts at $12,999 once you include the $7,500 federal tax credit and has an estimated 100-mile range.

Ben Geman, author of Generate
Jul 31, 2020 - Energy & Environment

The stage is set for a battle on sustainable investing

Illustration: Sarah Grillo/Axios

It's hardly the biggest regulatory fight of the Trump era, but there's an important battle raging over plans to restrict sustainable investing that also distills the energy and climate politics of the moment.

Driving the news: The Labor Department is planning to limit private retirement plan managers' leeway to invest based on ESG — environmental, social and governance — factors.

Ben Geman, author of Generate
Jul 31, 2020 - Energy & Environment

U.S. oil giants Exxon and Chevron post big losses

Data: Yahoo Finance; Chart: Andrew Witherspoon/Axios

The two largest U.S.-based multinational oil-and-gas giants both announced billions of dollars in second-quarter losses Friday in results that show the pandemic's toll on the industry.

Driving the news: ExxonMobil, citing "global oversupply and COVID-related demand impacts," reported a $1.1 billion loss, compared to $3.1 billion in profits the same period last year.