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 reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
Sempra Infrastructure has signed a non-binding memorandum of understanding (MOU) with Entergy Louisiana to explore renewable energy options for its facilities. The collaboration aims to enhance electrification, carbon sequestration, and reduce methane emissions. Sempra owns a 50.2% stake in Cameron LNG, which is proposed to expand with an additional liquefaction train. Entergy plans to increase its renewable energy portfolio significantly by 2030, aligning with sustainability goals and supporting Sempra's operations in Louisiana.
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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.
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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.