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.
Sempra (NYSE: SRE) announced strategic developments on Sept. 27, 2021, including the completion of a partnership with KKR, set for Oct. 1, to sell a 20% interest in Sempra Infrastructure. This initiative aims to bolster shareholder value through consolidation of energy infrastructure and investment in growth opportunities. Additionally, agreements to resolve Aliso Canyon litigation will lead to a $1.1 billion after-tax charge, with expected net outflows of approximately $895 million. Sempra updated its 2021 earnings guidance, projecting EPS between $7.75 and $8.35.
Sempra Foundation has announced a donation of over $200,000 to GRID Alternatives for the installation of five solar projects in Mexico, aimed at enhancing energy access for vulnerable communities. These projects are expected to provide 68 kW of solar capacity and help benefit 40 families. The initiative will also avoid approximately 1,930 metric tons of greenhouse gas emissions, equating to planting over 32,000 trees. The projects include training for 60 local renewable energy students, focusing on environmental justice.
On Sept. 21, 2021, Renewable Energy Systems (RES) and San Diego Gas & Electric (SDG&E) announced the successful commencement of commercial operations for a 30 MW/120 MWh lithium-ion battery storage system named Top Gun in San Diego, California. This facility, constructed with over 15,000 lithium-ion batteries, aims to enhance grid reliability and support renewable energy usage. RES will provide operations and maintenance services for the next 20 years. Energy storage projects like Top Gun are critical in addressing climate change and preventing power outages during extreme weather events.
Sempra (NYSE: SRE) announced the results of its cash tender offer to acquire the remaining 3.6% of IEnova shares not owned by the company. The offer expired on Sept. 10, 2021, and Sempra accepted 51,014,545 shares, totaling 4,029 million Mexican pesos at 78.97 pesos per share. This acquisition will increase Sempra's ownership in IEnova to 99.9%. Following the offer, IEnova plans to delist from the Mexican Stock Exchange. Sempra aims to strengthen its energy infrastructure in Mexico through IEnova's ongoing growth.
SoCalGas has commenced purchasing renewable electricity through Southern California Edison's Green Rate Program, aiming to acquire nearly 53.7 million kilowatt hours annually. This initiative is expected to decrease greenhouse gas emissions by 38,000 metric tons, the equivalent of removing over 8,000 gasoline-powered cars from the road each year. This renewable energy will supply 69 facilities, covering 80% of their electricity needs, aligning with SoCalGas's goal of achieving net zero emissions by 2045. The company also plans to transition its fleet to zero-emission vehicles by 2035.
Enervee has launched Eco Financing™, a program designed to enhance affordability for energy-efficient appliance purchases. In partnership with One, SoCalGas, and Best Buy, consumers can access loans up to
Sempra (NYSE: SRE) and Sempra LNG announced a donation of $100,000 to support Hurricane Ida relief efforts in Louisiana, specifically benefiting the Second Harvest Food Bank of Greater New Orleans and Acadiana. This contribution underscores Sempra's commitment to the community, having previously pledged nearly $1 million in support of Louisiana's recovery from natural disasters and the COVID-19 pandemic. Sempra LNG, which owns 50.2% of the Cameron LNG export facility, aims to be North America's premier LNG infrastructure company, focusing on sustainable energy solutions.
Sempra's board has declared a $1.10 quarterly dividend on common stock, payable on Oct. 15, 2021, to shareholders of record by Sept. 24, 2021. Additionally, a semi-annual dividend of $24.375 per share on its Series C Preferred Stock will also be payable on the same date to record shareholders as of Oct. 1, 2021. With over $66 billion in total assets and a workforce of over 19,000, Sempra aims to be North America's leading energy infrastructure company, recognized for its sustainable practices.
On September 1, 2021, Southern California Gas Co (SoCalGas) and Hyzon Motors (NASDAQ: HZYN) announced a partnership to develop a hydrogen-powered fuel cell electric utility truck. This initiative aligns with SoCalGas' NetZero 2045 climate commitment to transition to a zero-emissions fleet by 2035. The Class 3 utility truck, set for delivery by 2022, will feature a maximum power of 200 kilowatts and a 300-mile range. This collaboration aims to advance California's climate goals and reduce greenhouse gas emissions from the transportation sector.
Sempra (NYSE: SRE) has launched a cash tender offer to acquire the remaining 3.6% of outstanding shares of IEnova, aiming to purchase 52,227,526 shares at a price of 78.97 Mexican pesos each. This offer follows Sempra's recent exchange offer that increased its ownership of IEnova to 96.4%. The cash tender offer is scheduled to expire on Sept. 10, 2021, with a potential settlement on Sept. 17, 2021. If completed, Sempra will maintain a trust for six months to purchase any publicly held IEnova shares not acquired in the tender offer.
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