On Friday, Shares of AES Corp (NYSE:AES), gained 0.72% to $9.80.
The AES Corporation, declared the first deployment of Advancion 4, the next generation of battery-based energy storage, at the Warrior Run facility in Cumberland, Maryland. Advancion is a complete, battery-based alternative to peaking power plants that provides a dependable, smart and cost-competitive means to modernize power systems.
Advancion 4 is among the most proven energy storage platforms available, resulting from AES’ more than eight years of commercial experience operating grid-connected energy storage. This latest design comprises improvements in the architecture that provide the highest levels of reliability, upgrades to the already proven controls platform, and a modular design to drive down the upfront and on-going costs of these advanced storage assets for customers.
“With the addition of the Warrior Run Advancion Energy Storage Array, we now have 64 MW of interconnected energy storage in PJM,” said Ken Zagzebski, President of AES’ US Planned Business Unit. “We continue to see energy storage as an important innovative technology for serving our customers with safe, reliabile, cost effective and emission free power.”
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
Shares of Southwest Airlines Co (NYSE:LUV), declined -1.73% to $45.88, during its last trading session.
Ginger C. Hardage, Southwest Airlines Senior Vice President, Culture & Communications, declared her retirement from the carrier, effective Dec. 31, 2015.
As the senior leader overseeing Culture & Communication at Southwest—the nation’s largest airline in terms of originating domestic passengers boarded—Hardage championed the airline’s communication and outreach evolution, counting Southwest’s Companywide Emergency Response effort, expanding the communication functions to comprise more robust internal communications capabilities and a social business effort, and a focused corporate philanthropy program. For the past seven years, she also led the airline’s Culture Committee, Employee recognition and engagement, and the Companywide celebrations. She was a member of various executive committees and led Southwest’s “Best Place to Work” initiative.
“Working for Southwest Airlines truly has been a ‘dream job’ because of the People of this great airline and the values that drive the Company’s Customer-friendly decisions,” Hardage said. “The leadership team has grown and transformed the airline while staying true to its Purpose. The future never looked brighter and the Culture and Communication Leaders are ready to soar.”
With Hardage’s retirement, the airline’s Culture team and programs will report to Teresa Laraba, Southwest’s Senior Vice President of Customers and Culture. Linda Rutherford, Vice President, Chief Communications Officer, will now report to Southwest Chairman, President, and CEO Gary Kelly and assume responsibility for the Employee Engagement & Travel teams in addition to her leadership of the Communication and Outreach teams.
Southwest Airlines Co. operates passenger airlines that provide planned air transportation services in the United States and near-international markets. As of December 31, 2014, it operated 665 Boeing 737 aircraft; and had 12 Boeing 717 aircraft. The company served 93 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, in addition to 5 near-international countries, counting Mexico, Jamaica, The Bahamas, Aruba, and the Dominican Republic.
Finally, Shares of Suncor Energy Inc. (USA) (NYSE:SU), ended its last trade with -1.25% loss, and closed at $27.75.
Suncor, declared that it is sending a letter to shareholders of Canadian Oil Sands Limited (“COS”). The letter explains why COS shareholders should disregard a recommendation from the Board of COS opposing Suncor’s full and fair $4.7 billion offer to purchase all of the shares of Canadian Oil Sands (the “Offer”). Counting COS’ estimated outstanding net debt of $2.2 billion as at September 30, 2015, the total transaction value is about $6.9 billion.
Suncor believes that COS shareholders should accept the Offer, given COS’ track record of underperformance, financial challenges, and noteworthy vulnerability in a ‘lower for longer’ oil price market.
“The COS Board and administration are telling COS shareholders to “do nothing” to protect the value of their investment,” said Steve Williams, president and chief executive officer. “This would be saying no to the premium value of our Offer, and the opportunity for greater upside and lower risk as a Suncor shareholder. Rejecting our Offer represents real risk to COS share holders, and we urge them to consider the facts and accept our Offer.”
Suncor also declared that it is filing and mailing a Notice of Variation and Change (the “Notice”) to its original offer and circular dated October 5, 2015. Among other things, the Notice provides certain updated information regarding the Offer, counting taking into account Suncor’s and COS’ third quarter results.
Suncor believes these two documents will demonstrate to COS shareholders the value of the Offer and the risks they face if they reject the Offer, given the new business reality for oil prices and COS’ total reliance on the performance of the Syncrude oil sands facility, a single asset over which COS has little control.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products. It operates in Oil Sands; Exploration and Production; Refining and Marketing; and Corporate, Energy Trading, and Eliminations segments.