Key Insights and Signals in Energy & Utilities
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Centre Setup and Expansion
Iberdrola inaugurates 40 GWh Tamega pumped hydro plant in Portugal
Spanish utility Iberdrola has inaugurated its Tmega Gigabattery in northern Portugal, a renewable energy complex including pumped hydro with an energy storage capacity of 40GWh. The company has invested USD 1.5 Bn in the facility, which combines two run-of-river hydroelectric plants and an 880 MW PHES unit, with a total combined hydroelectric power of 1,158 MW. Read More>>
Naturgy to invest EUR 1.5 Mn (USD 1.53 Mn) in a Biomethane plant in Spain
The company will invest in a biomethane plant in Spain that will contribute renewable gas to the distribution network in 2023 in the province of Lleida. It will inject 11.8 GW hours a year of Biomethane into the network, equivalent to the annual consumption of 3,150 households. Read More>>
Deals
First Solar signs global supply agreement with Akuo Energy for 500 MW
According to this contract, First Solar will provide 200 MW for a utility-scale project in the United States designed by Akuo. The remaining modules should arrive in 2025 and 2026, with the possibility of power projects in Europe or other places where Akuo operates. First Solar will provide 200 MW for a utility-scale project in the US designed by Akuo. Read More>>
Cheniere announces long-term LNG deal with PetroChina
The company recently declared that it had signed a long-term LNG sale and purchase agreement with PetroChina Company Limited PTR. As per the deal, which runs until 2050, Cheniere’s wholly owned subsidiary, Cheniere Marketing, will sell roughly 1.8 million tons per annum of LNG on a free-on-board basis to PetroChina’s subsidiary. Read More>>
EIB and Iberdrola sign a new agreement to accelerate Spain’s energy transition
The two companies have signed a new deal to accelerate Spain’s energy transition by developing new renewable energy capacity. The new projects will significantly contribute to the sustainable recovery of the economy and job creation. Read More>>
Merger and Acquisition
SDCL acquires United Utilities Renewable Energy Limited
SDCL acquired the entire issued share capital of United Utilities Renewable Energy Limited from United Utilities Group for approximately USD 100 Mn. UURE owns a portfolio of 70 operational renewable energy assets. Read More>>
Recycling and waste management firm complete acquisition of recycler
The company acquired a Glasgow-based recycler for an undisclosed sum. Recycling Lives, which operates in 23 locations across the UK, has snapped up John R. Adams and Sons. Three Hills Capital Partners, as a shareholder in Recycling Lives, provided additional support throughout the acquisition process. Read More>>
Partnership
Iberdrola and Macro work together to promote sustainable mobility
The two companies have collaborated to promote electric mobility in Spain and drive the transition towards more sustainable transport. There are plans to set up over 280 charging points in 37 macro locations. Read More>>
A2A and BTS Biogas partner up for new plant development
The two companies working towards progressing the construction of biogas and biomethane plants have signed a letter of intent to define a joint venture. The agreement provides for equal participation of A2A and BTS Biogas in investment and management. Read More>>
Executive Movement
Jaikumar Srinivasan onboards into NTPC as Director
Shri Jaikumar Srinivasan joins India’s largest energy conglomerate, NTPC, as Director. The Appointments Committee of the Cabinet has approved his appointment for the respective post. Before this, he was serving in NLC India Limited as Director. Shri Jaikumar Srinivasan is a B.Com. graduate from the University of Nagpur and Associate Member of Cost & Management Accountants of India. Read More>>
Vistra appoints Kris Moldovan as Chief Financial Officer
The company announced that its board of directors had appointed company veteran Kris Moldovan as its next chief financial officer, effective Aug. 1. Moldovan assumes the CFO role from Jim Burke, who, as previously announced, will transition to the chief executive officer on Aug. 1. Read More>>
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Latest Industry Insights from Draup Braindesk
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Funding Alert
Chevron and Google invest USD 250 Mn in TAE Technologies
TAE Technologies secured strategic and institutional investments to fund the construction of its next research reactor, Copernicus. TAE’s fifth-generation reactor, Norman, was unveiled in 2017 and was designed to keep plasma stable at 30 million degrees Celsius. Read more>>
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Startup Spotlight
Company – Ecozen
Total Funding – USD 15.63 Mn
About: Ecozen’s ecofrost was based on a solar-powered, portable cold room based on thermal energy storage. ecotron is an intelligent controller for irrigation pumps, and Eco-Connect is a platform that connects farmers growing perishables with organized buyers. Read more>>
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Latest Reports Published in Draup
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J.C. Bamford Excavators Limited Account Intelligence Report
JCB intends to open service and manufacturing centers to increase its business operations worldwide and produces specialized agricultural machinery like agricultural telehandlers, wheeled loaders, and Fastrack tractors for farmers. Read More>> |
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E.ON SE Account Intelligence Report
E.On SE develops digital transformation by leveraging AI, ML, the IoT, and cloud platforms to enhance the development of new solutions for a sustainable, digital energy world. It provides radio masts, quantum computing, smart water meters, fiber broadband, and fast charging solutions. Read More>>
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