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Crowds lined the streets of Hamilton to watch as a giant engine for the new Belco North Power Station was transported through the city. The 280-tonne machine inched its way to the construction site on the back of a remote-controlled transporter, whil...

I was interested to read recent exchanges between Bermudian supporters of renewable energy who identified the availability of wind data from various sources. I share a real concern at the talk of the Regulatory Authority of Bermuda finalising the int...

Ascendant Group Ltd said that it had made “progress” with its potential sale of the company as it reported a first-quarter loss of $0.5 million. Core earnings, operational earnings that exclude corporate expenses, were $3.6 million for the first thre...

The statements by home affairs minister Walter Roban to The Royal Gazette last week only re-emphasise the need for the Bermuda legislature to act now to amend the 2016 Electricity Act to require the island’s first integrated resource proposal to be r...

A union leader has warned the owner of power firm Belco not sell the company to Canadian investors. Chris Furbert, president of the Bermuda Industrial Union, highlighted rumours heard “through the grapevine” that Sean Durfy, the Canadian chief execut...

AirCare has carried out what it claims is the first controlled fire burn of its type in Bermuda. The controlled burn, held to demonstrate the efficacy of having a properly installed and maintained sprinkler-based fire suppression system, was carried ...

Since our last report in late January on the Ascendant developments, its inflated stock price, its lack of interest in including renewable energy in the Integrated Resource Plan, many new developments have occurred. Our principal concern is that em...

Ascendant Group Ltd is looking for a buyer among a select group of companies. Who those prospective new owners are and how many they number, Ascendant has declined to say. However, names of potential acquirers have surfaced from a source who spoke to...

Ascendant Group is officially seeking a buyer after the company’s board invited a group of prospective new owners to make takeover offers. The news came yesterday afternoon in a statement from Ascendant. In January, the parent company of power utilit...

One of Ascendant Group’s largest shareholders is urging the company to relist its shares in Canada or the US, if it does not receive an adequate buyout offer. Toronto-based IBV Capital has been accumulating shares in Ascendant, the parent company of ...

Ascendant Group Ltd’s core earnings dropped 10 per cent to $18.3 million last year as electricity sales slipped. Net income plunged 73 per cent, to $5.4 million from $20.2 million in 2017, driven by a one-off $12.8 million restructuring charge, relat...

Ascendant Group Ltd is considering putting itself up for sale. The owner of power utility Belco said in a statement yesterday morning that its board of directors has “begun a process of evaluating strategic alternatives, including the potential sale ...