What has lost investors over 95% of their investment in the last year and is hoping to get investors to double down in a losing bet? The company has lost money each of the last 4 years and has somewhere around $6billion of debt on its balance sheet. If you guessed Peabody Energy (NYSE:BTU), then you are correct. The coal giant has filed for Chapter 11 in the hopes of getting lenders to swap for equity. The company will continue operations and sell coal into 25 Countries while the US keeps getting energy from coal for about 35% of the portfolio. Let’s hasten the change to solar/storage baseload with no emissions and fuel cost volatility in a distributed network.
- New York Times: Peabody Energy, a Coal Giant, Seeks Bankruptcy Protection
- Forbes: Solar Energy Giant SunEdison May Be In Technical Default, According To CreditSights
- PV-Magazine: Two-thirds of US solar installers do not offer storage, study finds
- Renew Economy: Why rise of solar, and fall in costs, still shocks energy experts
- Think Progress: The Paris Climate Agreement Is About To Hit A Major Milestone
- Bloomberg: Indian Solar Auction Sees Foreign Developers Mostly Shut Out
- Grist: More Californians work in “Advanced Energy” jobs than in farming or Hollywood
- The Guardian: Solar power sets new British record by beating coal for a day
Opinion
Have a great day!
Yann