Equinor to acquire East Point Energy to enter the US battery storage market

Key Insights and Signals in Energy & Utilities

Centre Setup and Expansion
Jamaica opens its first public nuclear medicine center with IAEA support 
A new nuclear medicine center that will provide life-saving diagnosis and treatment of non-communicable diseases has opened in Jamaica. It will receive the support of the International Atomic Energy Agency under its Rays of Hope initiative launched earlier this year to help countries fight cancer. Read More>>
PepsiCo inks PPA for Iberdrola’s 590-MW solar farm in Spain 
The company has signed a power purchase agreement with Spanish utility Iberdrola SA to procure electricity from the 590-MW Francisco Pizarro solar farm in Spain. En route to becoming Europe’s largest solar farm, Francisco Pizarro will soon start operations. Read More>>
Worley shares dip despite the deal with Santos 
The company won a professional services contract to support the Santos Bayu-Undan carbon capture and storage project. Under the deal, Worley will provide front-end engineering and design services for the Bayu-Undan offshore facilities and pipeline. Read More>>
Merger and Acquisition
Equinor to buy US energy storage developer East Point Energy 
The company acquired East Point Energy LLC, a US battery storage developer with a 4.1-GW pipeline of early to mid-stage battery projects on the East Coast. The purchase of the Charlottesville, Virginia-based company is expected to be completed in the third quarter of the year, with East Point Energy to become a subsidiary of Equinor. Read More>>
Epcor acquires Fraud Alert Services 
Epcor acquired COCHA, The Central Oklahoma Clearing House Association. The acquisition includes COCHA’s Fraud Alert Service and Settlement Service. The company was previously named the Management Member of COCHA in October of 2019 and has conducted day-to-day operations of COCHA since. Read More>>
QatarEnergy partners with Shell for NFE expansion 
The company has selected Shell as a partner in the North Field East expansion project. The partnership agreement was signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Ben van Beurden. Read More>>
Executive Movement
Suncor Energy says president and CEO Mark Little has stepped down and resigned from the board 
The company announced that the chief executive Mark Little stepped down as president and chief executive officer and resigned from its board of directors just one day after the company announced its oilsands operations suffered another workplace fatality. Read More>>
AngloGold appoints interim CFO while it seeks replacement following Ramon’s retirement 
IAN Kramer had been appointed interim chief financial officer for AngloGold Ashanti following the early retirement of Christine Ramon. A comprehensive international search process for a permanent CFO is well advanced, and an announcement will be made when the appointment is finalized. Read More>>
Financial and Market Activity
Duke Energy to announce second-quarter 2022 financial results on Aug 4 
Duke will post its second-quarter financial results on Aug 4. A conference call will be hosted by Lynn Good, chairperson, and chief executive officer, and Steve Young, executive vice president and chief financial officer. Read More>>
ALLETE to announce second quarter financial results on August 3 
The company announced its financial results for the second quarter before the stock markets opened on August 3, 2022. ALLETE Chair, President, and Chief Executive Officer Bethany M. Owen and Senior Vice President and Chief Financial Officer Steve W. Morris will present an overview of results and discuss other factors affecting performance during a conference call beginning at 10 a.m. Eastern time. Read More>>
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Latest Industry Insights from Draup Braindesk

Funding Alert

Spanish gas grid operator Enagas aims to invest USD 4.7 Bn by 2030 
Enagas plans to invest in gas infrastructure, interconnectors, hydrogen development, and other projects. The project forms part of a European plan to reduce dependence on Russian fossil fuels and accelerate the energy transition. Read more>>

Startup Spotlight

Company – Deep Isolation
Total Funding  USD 17.7 Mn
About: Deep Isolation offers a solution to dispose of nuclear waste in safe, permanent deep geologic repositories. It combines scientific and nuclear expertise with sophisticated stakeholder engagement skills to work alongside communities to design and deliver an equitable and environmentally protective solution. Read more>>

Latest Reports Published in Draup

The Southern Company Account Intelligence Report 
The Southern Company develops crewless aerial vehicles, energy storage projects, and sustainability sites to increase the company’s diversity. Its partnerships focus on predictive technology, electric transportation solutions, and electronic platform to improve digital transformation. Read More>>
Schlumberger Limited Account Intelligence Report 
Schlumberger offers its automated drilling solution to help industries with automation workflows, safety, and improved drilling efficiency. It aims to extract lithium to support electric vehicle industries and uses fiber optic solutions to offer the multi-domain distributed sensing capability. Read More>>
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