A Financial Innovation That Could Accelerate The Carbon Transition

dhita yudha

Coal economics have passed the cost crossover point with renewables – 179 gigawatts (GW) of coal plants in the United States were more expensive to operate than replacing them with new local solar or wind energy in 2018. But even though opportunities abound for utilities to economically transition from existing coal to new renewables, annual coal plant retirement rates are closer to 10 GW.

When utilities and regulators fail to act upon this fundamental economic change, relentless consumer pressure will result, forcing utilities to adapt or risk losing customers.

An innovative new financial approach is accelerating the electric sector’s financial transition from coal to clean. “ Solar for coal swaps” could help refinance the 26 GW of

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Empower Retirement acquires Personal Capital in billion-dollar deal

dhita yudha

Empower Retirement, the Greenwood Village financial firm with its name on Mile High Stadium, has made a major acquisition to fill out its roster.

Courtesy of Empower Retirement

Ed Murphy

The company announced Monday that it would acquire Personal Capital, a digital wealth management firm, for up to $1 billion. The price includes $825 million on closing later this year and up to $175 million if Personal Capital can hit undisclosed growth targets.

The purchase will allow Empower plan participants and individual investors to obtain a more complete picture of their financial holdings, access digital personal finance tools, and receive customized advice, the company said.

Longer-term, the combination should allow Empower to retain more plan participants as customers after they retire.

“The acquisition of Personal Capital and the integration of their tools and capabilities into the Empower offering is designed to create a best-of-breed platform — powered by digital and

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