All posts by Janice Gundersen

$12 trillion to be spent on renewables and grid infrastructure in the U.S and Canada by 2050 – Report

Business News, Government
  • DNV publishes Energy Transition Outlook North America. The report covers the energy future of the U.S. and Canada through to 2050
  • Policies are triggering massive investment into new technologies, accelerating the energy transition in North America
  • Domestic fossil fuel demand declines 60%, mainly in transport and power sectors, but export remains stable while domestic energy use is declining
  • Household energy expenditure halves by 2050 driven by energy efficiency and a cleaner energy mix driving energy affordability

New York, Sept. 25, 2023 – Federal and household spending on energy in the U.S. and Canada will drop sharply as the two countries reduce their reliance on fossil fuels, according to DNV’s Energy Transition Outlook North America. The new report explores the most likely energy future of the U.S and Canada to the middle of the century and it forecasts 12 trillion dollars will be spent in the two countries on grid and renewables between now and 2050. The intrinsic efficiency of renewables and electrification mean that overall expenditure on energy will be the equivalent of 2.5% of GDP by 2050, compared to 4% now. The report forecasts capital expenditure (CAPEX) on renewables will overtake fossil fuel CAPEX by 2040 as domestic demand for the latter falls by some 60% by the middle of the century.

Electrification will be a key driver of the energy transition, which will ultimately benefit consumers. Household energy bills are set to halve by 2050 as they reap the rewards of cheaper electricity generated by renewables. To support the influx of renewable energy resources, the grid must undergo a vast expansion, increasing its capacity 2.5 times by 2050. The Outlook takes into consideration the current bottleneck in transmission lines, which, if not addressed, will limit the attractiveness of wind and solar installations. Policies have already been initiated in the U.S. and Canada to address the lack of grid capacity, although ultimately DNV believes that transmission- and distribution-system operators will be driven by the unprecedented opportunity to capitalize on the vast market for renewable power.

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KONGSBERG awarded NOK 1 billion CROWS order

Business News, Defense / Security

Kongsberg Defence & Aerospace AS (KONGSBERG) has received an order from the US Army to deliver an additional 409 CROWS remote weapon stations, spares and support. The order has a value of USD 94 million or approximately NOK 1 billion.

 

The order is part of the IDIQ* frame contract awarded in October 2022, the fourth consecutive five-year contract awarded KONGSBERG for the delivery and support of the US Army Commonly Remotely Operated Weapon Station (CROWS).

“We are very pleased for the opportunity to deliver additional CROWS systems to the US Army and with the confidence our customers place in our products and our organization,” says Eirik Lie, President of Kongsberg Defence & Aerospace.

The deliveries will be manufactured and assembled at the KONGSBERG facility in Johnstown PA.

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Cisco to buy cybersecurity firm Splunk for $28 billion

Business News, Technology

Sept 21 (Reuters) – Cisco Systems (CSCO.O) on Thursday agreed to buy cybersecurity firm Splunk (SPLK.O) for about $28 billion in its biggest-ever deal to strengthen its software business and capitalize on the boom in artificial intelligence.

The deal, which is the biggest technology transaction of the year, will help reduce Cisco’s reliance on its massive networking equipment business, which has suffered in recent years from supply chain issues and a post-pandemic slowdown in demand.

“The thing that gives you conviction is we are bringing together two companies around security and observability, which are two of the most important areas for our customers and areas where they are unlikely to cut spending in – just because of the criticality of these threats,” Cisco CEO Chuck Robbins told Reuters in an interview.

Under Robbins, Cisco has over the years attempted to reduce its traditional reliance on hardware and doubled down on its bets in software and services through deals.
Splunk is known for its strengths in the area of data observability, which helps companies monitor their systems for cybersecurity risks and other threats. The company operates a subscription-based pricing model for customers.

The two companies have held merger talks in the past, but those discussions fell apart, Reuters has previously reported.

Cisco offered $157 in cash for each share of Splunk, representing a 31% premium to the company’s last closing price.

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The UN to use BI climate research

Business News, Education / Research

The Earth4All model created in part by Jørgen Randers and Per Espen Stoknes will be used to map emissions, poverty, and inequality to help build a more sustainable future.

“Environmental and economic sustainability is the greatest challenge the world faces. It is important to be aware that solving the climate challenge is not enough, we also need to tackle rising economic inequality and poverty around the world if we are to achieve a better future. BI and other business schools play an important part in finding solutions that work,” says President of BI Norwegian Business School Karen Spens.

Earth4All is a group of scientists, economist and thinkers working on how to bring about the Giant Leap scenario needed to reach most of the Sustainable Development Goals (SDGs). The science behind their work is based on work carried out at BI Norwegian Business School.

“We presented our global results on SDG goal achievement to the top leadership of the United Nations as part of the UN Climate Week. UN Secretary General Antonio Guterres and the Chair of the UN SDG Group Amina Mohammed were inspired by the report. They immediately requested us to deepen the analysis with a special focus on Africa and Latin America for UN’s Summit for the Future next year,” says Associate Professor at BI Per Espen Stoknes.

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KONGSBERG secures NOK 1.2 billion order for deliveries to F-35 Joint Strike Fighters

Business News, Defense / Security

Kongsberg Defence & Aerospace (“KONGSBERG”) has signed an agreement with Lockheed Martin Aeronautics worth NOK 1.2 billion to supply parts for the F-35 Joint Strike Fighter Program.

 

The agreement with Lockheed Martin covers production lots 18-19 for Rudders, Vertical Leading Edges and Main Landing Gear Closeout panels for the three versions of the F-35, totalling more than 300 aircraft.

“KONGSBERG has been a long-standing partner to Lockheed Martin on the F-35 program and our latest agreement is testament to our strong position in this program. It also adds two more years of production from our facility, further strengthening our position for future lots beyond 2027,” says Eirik Lie, President of Kongsberg Defence & Aerospace.

Deliveries from the new order will begin in 2025 and will enable continued deliveries through 2027 from KONGSBERG’s production facility in Norway. KONGSBERG is currently working on production lots 15-17, totalling more than 450 aircraft, which will be delivered to the customer through 2025.


Press Release here

Ny beslutning fra EU forenkler helsesamarbeidet med USA

Business News, Government

Som følge av en ny beslutning i EU-kommisjonen om behandling av persondata, likestilles nå amerikanske virksomheter med europeiske. Dette betyr at prosjekter og tjenester i helsesektoren både i Norge og i EU kan vurdere bruk av amerikanske skyløsninger på lik linje med europeiske.

For at en amerikansk virksomhet skal bli vurdert må den ha sluttet seg til Data Privacy Framework (ec.europa.eu).

Man kan overføre personopplysninger innad i EU/EØS, mens det som hovedregel er forbudt å overføre personopplysninger ut av EU/EØS.

Les hele artikkelen.

Norway considers three areas for 2025 offshore wind tender

Business News, Shipping & Offshore

OSLO, Sept 14 (Reuters) – Norway’s oil and energy ministry is considering three areas for an offshore wind tender planned for 2025, which is part of its wider goal to develop 30 gigawatts (GW) of offshore wind by 2040, it said on Thursday.

The ministry has tasked the Norwegian Water Resources and Energy Directorate (NVE), the country’s energy regulator, with evaluating three sites off Norway’s south and west coasts, it said.

In April, NVE recommended 20 areas suitable for deploying offshore wind farms, but said only two of these – Soervest F and Vestavind F – would be ready for 2025.

These two areas incorporate the sites of Norway’s first tender locations at Soerlige Norsjoe II, close to the sea border with Denmark, and Utsira Nord, off the south-west coast near the city of Haugesund.

In addition, NVE has now been asked to start a strategic impact assessment of Vestavind B, an area located off the west coast near the city of Bergen.

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Microsoft Offers Legal Protection for AI Users in Copyright Cases

Business News, Technology

Microsoft says it will provide some legal safeguards to customers using its AI. 

The tech giant announced last week the launch of its Copilot Copyright Commitment, designed to protect artificial intelligence (AI) customers worried about possible intellectual property (IP) infringement.

“As customers ask whether they can use Microsoft’s Copilot services and the output they generate without worrying about copyright claims, we are providing a straightforward answer: yes, you can, and if you are challenged on copyright grounds, we will assume responsibility for the potential legal risks involved,” President Brad Smith wrote. 

Smith says this commitment goes beyond the company’s existing intellectual property indemnity support and builds on existing commitments. 

“Specifically, if a third party sues a commercial customer for copyright infringement for using Microsoft’s Copilots or the output they generate, we will defend the customer and pay the amount of any adverse judgments or settlements that result from the lawsuit, as long as the customer used the guardrails and content filters we have built into our products,” said Smith.

The announcement comes nearly a month following a ruling from a federal judge that artwork created by AI can’t be copyrighted.

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Clean Energy Investing in America

Automobile / Transport, Business News

The investment announced during this time period is equivalent to eight years’ worth of American clean energy investment, surpassing total investment into U.S. clean power projects commissioned between 2015 – 2022.

In the same period, 83 new utility-scale clean energy manufacturing facilities were announced, bringing an expected nearly 30,000 new American jobs. $4.5 billion in savings were also announced for over 24 million customers served by utilities building out more clean power.

Since federal clean energy incentives were passed last year, signs of rapid growth for maturing American clean energy industries are emerging. U.S. wind manufacturing plants that closed in recent years are bringing back workers. Plans for an unprecedented amount of new solar, battery, and offshore wind plants are being drawn and developed. The U.S. is in a position to secure our energy independence and become a global leader in the buildout of clean energy.

The new incentives offer companies significant opportunity to invest in new utility-scale wind, solar, and storage projects and manufacturing facilities, while passing on savings to American consumers.

Should currently announced manufacturing facilities reach operation, ACP estimates a nearly ninefold increase in solar module production and a more than fifteenfold increase in grid-scale battery storage, along with significant increases in production output for solar cells, polysilicon, ingots and wafers, blades, towers, and nacelles. 

If completed, these investments and projects will strengthen our energy independence, improve air quality, and support one million American clean energy jobs.

 

Norwegian prime minister visited Norway House, St. Olaf College during MN visit

Business News, Government

Norwegian Prime Minister Jonas Gahr Støre is set to visit Minnesota next week, making a stop at Norway House in Minneapolis and St. Olaf College.

On Sunday, Støre is scheduled to discuss a wide range of topics during a visit to Norway House in Minneapolis.

The fireside chat at Norway House is expected to cover the war in Ukraine, climate concerns, transitioning to clean energy and Norway’s alliance with the United States.

The event is free and open to the public, but organizers say ticket reservations are required and can be found here. Those without reservations might be turned away.

The discussion will begin at 1:30 p.m. Sunday at 913 East Franklin Avenue in Minneapolis and will be moderated by Tom Hanson, a diplomat in residence at the University of Minnesota-Duluth.

Read full article here