Welcome to our dedicated page for Sempra Energy news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra Energy stock.
Sempra (NYSE: SRE) generates frequent news as a North American energy infrastructure company with major regulated utilities and large-scale energy projects. Public announcements often highlight developments at its California utilities, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), as well as at its Texas affiliate Oncor Electric Delivery Company LLC and its LNG-focused Sempra Infrastructure businesses.
Investors following SRE news can expect regular updates on quarterly earnings, dividend declarations, regulatory proceedings and capital plans. Recent press releases have covered common and preferred dividend announcements, detailed quarterly financial results, and guidance updates. Sempra also issues news about strategic transactions, such as the agreement to sell a 45% equity interest in Sempra Infrastructure Partners to a KKR-led consortium, which is designed to support its utility-focused capital campaign and adjust its business mix.
Subsidiary-level news is also significant. SDG&E has reported recognition for reliability performance in the Western Region and described investments in grid enhancements, safety programs and wildfire mitigation. SoCalGas issues releases on preferred stock dividends and provides background on its role as a large gas distribution utility in Central and Southern California. Oncor regularly reports its quarterly results, capital spending plans and progress on major transmission and distribution projects across Texas.
News related to Sempra Infrastructure often focuses on LNG projects, including final investment decisions, long-term offtake agreements and investor equity arrangements for projects such as Port Arthur LNG Phase 2. Together, these updates give readers insight into how Sempra manages regulatory issues, funds large capital programs and advances energy infrastructure projects. This page aggregates such company and subsidiary announcements so readers can review the latest SRE-related developments in one place.
San Diego Gas & Electric (SDG&E) announced the completion of the Cleveland National Forest Fire Hardening and Safety Project, aimed at enhancing community fire safety and electric system reliability. Spanning approximately 880 square miles, the project involved converting wood poles to fire-resistant steel and undergrounding equipment. Key metrics include the replacement of over 2,100 wood poles and 607 miles of new conductor, ensuring infrastructure can withstand extreme weather. This initiative is part of SDG&E's broader Wildfire Mitigation Plan, enhancing wildfire resilience in the region.
Southern California Gas Company (SoCalGas) has made a significant step towards sustainability by purchasing 23 Toyota Mirai hydrogen fuel cell electric vehicles (HFCEVs), with plans to expand the fleet to 50 by next month. This initiative supports its Net Zero 2045 climate goal, aiming for a 50% clean fuel vehicle fleet by 2025 and a 100% zero-emission fleet by 2035. The vehicles, which emit only water, mark an important transition for SoCalGas in reducing emissions and are part of over 10 hydrogen pilot projects. This strategy aligns with California’s broader climate objectives.
SoCalGas announced that over 13,400 new residential units enrolled in the 2021 Energy Efficient New Homes (EENH) Program, aiding builders in constructing energy-efficient homes. This initiative is projected to save approximately 150,000 net therms and $250,000 in customer bills, reducing 794 metric tons of CO2 emissions in 2021. The program, in place since 2018, has provided over $3.9 million in rebates. In total, SoCalGas's energy efficiency efforts have saved customers $250 million over the past five years. The company aims for net-zero GHG emissions by 2045.
Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), announced the successful completion of its inaugural offering of $400 million in 3.250% senior notes due 2032. This milestone reflects the strength of its integrated platform focusing on renewable energy and natural gas. The proceeds will enhance financial flexibility for future energy investments and potentially repay existing debt. The notes were privately placed with qualified institutional buyers under U.S. securities regulations. Sempra Infrastructure is dedicated to enabling energy transition while maintaining a focus on sustainability.
Southern California Gas Co. (SoCalGas) announced a partnership with Doosan Mobility Innovation (DMI) and GTI to showcase a new hydrogen drone technology at CES Las Vegas. The DS30 drone, powered by hydrogen, offers 120 minutes of flight time and a payload capacity of 11 pounds. SoCalGas intends to utilize this drone for efficient pipeline inspections, providing enhanced aerial mapping and imagery. This demonstration aligns with SoCalGas' commitment to achieving net-zero greenhouse gas emissions by 2045 and signifies a step towards sustainable energy solutions.
Sempra (SRE) announced a definitive agreement to sell a non-controlling 10% interest in Sempra Infrastructure Partners to a subsidiary of the Abu Dhabi Investment Authority for $1.785 billion in cash. This transaction values Sempra Infrastructure at $26.5 billion, including approximately $8.6 billion in debt. Following this deal, Sempra will maintain a 70% controlling stake in the infrastructure unit. Proceeds will help fund capital expenditures and a $500 million stock repurchase. The transaction is expected to close in summer 2022 and will be accretive to earnings.
Southern California Gas Co. (SoCalGas) and Bloom Energy (NYSE: BE) announced a project to pioneer hydrogen economy technologies aimed at supporting California's carbon neutrality goals. Set to launch in 2022 at Caltech, the project will use Bloom's electrolyzer to blend 10% hydrogen into the natural gas network, supplying electricity to the university. The collaboration emphasizes innovative decarbonization methods and could lead to more resilient energy systems. Bloom’s high-temperature electrolyzer enhances hydrogen production efficiency, reducing costs and accelerating market adoption.
Bloom Energy (NYSE:BE) and Southern California Gas Co. (OTC-PINK:SOCGP) are collaborating on a hydrogen project aimed at demonstrating the integration of hydrogen into California's natural gas infrastructure. This initiative, launching at Caltech in Pasadena, will generate hydrogen using Bloom's high-temperature electrolyzer, blending it into the existing natural gas network. The project seeks to aid California in achieving carbon neutrality, showcasing hydrogen's potential for energy resilience and cost-effective storage. The companies emphasize the economic advantages of using less electricity for hydrogen production.
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