Key Insights and Signals in Energy & Utilities
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Deals
Xcel Energy selects Vestas to repower Pleasant Valley and Border projects
The repowering involves replacing older turbines with newer and more efficient ones, increasing the total capacity of both projects to 429 MW. Vestas will supply V150-4.2 MW turbines for the Pleasant Valley project and V162-6.0 MW turbines for the Border project. Read More>>
Statkraft to supply renewable power for FFIs green hydrogen and ammonia project in Norway
Statkraft will supply renewable power to the Norwegian company FFI for its green hydrogen and ammonia project. The project aims to produce green hydrogen and ammonia using renewable energy sources like wind and solar power. Read More>>
Nextracker signs a 1.2GW tracker deal with Sterling & Wilson for an Indian PV project
Nextracker, a provider of solar tracker technology, has signed a deal with Sterling and Wilson to supply 1.2 GW of its NX Horizon solar trackers for a PV project in India. The project, located in Rajasthan, India, is expected to be one of the largest solar installations in the world, with a total capacity of 1.5 GW. Read More>>
Partnerships
Acciona and Nordex form a green hydrogen joint venture
Acciona and Nordex will produce green hydrogen using wind turbines. The joint venture, Acciona Nordex Energy, will focus on producing hydrogen for the transport sector and initially develop a pilot project in Spain. Read More>>
CEB and India’s NTPC to jointly build 135MW solar power plant in Sampur
Ceylon Electricity Board and India’s National Thermal Power Corporation will develop a 135 MW solar power project in Sampur, Trincomalee. The first phase is expected to be completed between 2024 and 2025 and will include a 50 MW solar power project and a 40 km transmission line. Read More>>
Centre Setup and Expansion
ACCIONA Energia begins construction of a biomass plant in Spain
The plant will use wood chips and forestry waste as fuel to generate electricity. This biomass plant will have a capacity of 34 MW and will supply electricity to approximately 50,000 homes. ACCIONA Energía plans to operate the plant in compliance with the highest sustainability and environmental standards. Read More>>
Merger and Acquisition
Covanta acquired Circon in the most transformative acquisition in its history
The acquisition of Circon will likely enhance Covanta’s position in the market and expand its capabilities in sustainability-focused environmental services. The deal is subject to regulatory approval, so it remains to be seen when the acquisition is finalized and will impact both companies and their customers. Read More>>
Executive Movements
FirstEnergy names Brian X. Tierney as President and Chief Executive Officer
FirstEnergy appointed Brian X. Tierney as its new President and CEO. Tierney will lead the company’s efforts to modernize its infrastructure, expand its renewable energy portfolio and deliver value to its shareholders. Read More>>
Greaves Cotton Limited appoints Varghese M Thomas as its CCO
Greaves Cotton Limited appoints Varghese M Thomas as Chief Communication Officer. Varghese brings over 25 years of experience in communication and will oversee all internal and external communication and social media strategies. He will work closely with the leadership team to promote the company’s brand, vision, and mission. Read More>>
Civitas Resources, Inc. appoints Hodge Walker as Chief Operating Officer
Hodge Walker replaces Matt Owens, who left the company. Chris Doyle, President and CEO, welcomes Walker and praises his 25 years of industry experience. Walker previously served as vice president of Chevron Corporation’s Rockies Business Unit. Read More>>
Financial and Market Activity
EVgo Inc. reports fourth-quarter and full-year 2022 results
EVgo reported the company’s revenue increased to USD 27.3 Mn in the fourth quarter of 2022, compared to USD 7.1 Mn in the fourth quarter of 2021, representing 283% year-over-year growth. The company also reported that its network throughput increased to 14.4 GWh in the fourth quarter of 2022, compared to 8.2 GWh in the fourth quarter of 2021, representing 76% year-over-year growth. Read More>>
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Latest Industry Insights from Draup Braindesk
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Logistics Solutions
FTL Fuel:
- Mansfield delivers full truck fuel to every location at the precise time, place, and price.
- With over 900 fuel terminal supply points, Mansfield offers the ideal balance between supply reliability and price optimization
Tank Wagon (LTL) Fuel:
- Mansfield’s LTL fuel delivery service is a smart solution for fueling vehicles, mobile equipment, and stationery tanks.
- It provides reliable supply and flexible delivery options to meet customer needs.
DEF (Diesel Exhaust Fluid):
- DEF increases fuel consumption, equipment downtime, and maintenance costs
- Mansfield ensures customers have a reliable supply of high-quality DEF that consistently meets ISO standards.
Mobile Fueling:
- Mansfield Mobile Fueling is a smart solution with better transaction detail to manage fuel usage and fleet operations.
- Mobile Fueling reduces operating costs with complete visibility across mobile fueling transactions.
Mansfield On Demand:
- Mansfield On Demand offers a no-obligation purchase option based on daily pricing.
- It provides Reliable Supply and Broad North American Coverage options for customers.
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Key Funding Alert
K-Electric plans to invest INR 484 Bn (USD 5.9 Bn) over the next seven years
K-Electric plans to invest in enhancing its power generation and distribution capabilities. The investment will go towards several initiatives, including installing new power plants, expanding transmission and distribution networks, and integrating renewable energy sources. Read more>>
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Startup Spotlight
Company – Sublime Systems
Total Funding – USD 40 Mn
About: Sublime Systems creates a system for decarbonizing cement that simultaneously produces green hydrogen and reduces cement emissions. Their technology eliminates CO2 emissions without affecting the characteristics or chemistry of the cement. Read more>>
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Latest Reports Published in Draup
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NextEra Energy, Inc. Account Intelligence Report
NextEra Energy’s business is refined into two segments through which it positions itself as the leading player. Its two segments are Florida Power & Light Company (FPL) and NextEra Energy Resources (NEER). Read More>> |
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