Key Insights and Signals in Energy
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Centre Setup and Expansion
Woqod opens new petrol station in Nuaija
Woqod opened the Nuaija petrol station in the Nuaija area. The new Nuaija petrol station is spread over 2100 sqm and has two lanes with four dispensers for light vehicles. The station will serve the Nuaija area and its neighborhood. Read More>>
NextEra Energy Resources and Coffee County, Alabama, to build the first renewable natural gas project in the state
The company will build the first landfill renewable natural gas production facility in Alabama. On an annual basis, the project is expected to capture over 16,500 metric tons of landfill methane for beneficial use. The Coffee County RNG Project is expected to create approximately 50 to 60 construction jobs. Read More>>
Deals
Slovenia’s Geoplin signs a 3-year gas deal with Algeria’s Sonatrach
Geoplin signed a three-year natural gas supply contract with Algeria’s state-owned energy company Sonatrach. It will buy about three hundred million cubic meters of gas from Algeria annually, covering a third of its gas needs, and the deal’s value has not been revealed. Read More>>
Altrad wins 2-year offshore contract for TotalEnergies
Altrad secured a 2-year contract to support the Tyra II gas production platform’s final construction and commissioning phase, which is 225 KM off the west coast of Denmark. The multidiscipline services contract will represent over 600,000 person-hours supporting the hook-up campaign. Read More>>
Pertamina NRE and ACWA Power to support Tuban refinery
The two companies have signed a joint development agreement (JDA) for core utility supply to the Tuban grassroots refinery and petrochemical project. Located in Tuban, the GRR&P project is one of Indonesia’s national strategic projects in the context of building national energy security and advancing the domestic petrochemical industry. Read More>>
Merger and acquisition
California American Water acquires Bellflower’s Municipal Water System
California American Water acquired the City of Bellflower’s municipal water system. Approximately 1,800 homes and businesses that are customers of the Bellflower municipal water system will now be served by California American Waters Los Angeles County District. Read More>>
Akwa Africa is set to take over TotalEnergies Mauritanias fuel retail business
Akwa Africa is set to acquire TotalEnergies’ fuel retail business in Mauritania. The USD 185 Mn purchase will be made through the company’s subsidiary, Akwa Africa, and if it would mean acquiring forty branches operated by the French mobility firm throughout the country. Read More>>
Partnerships
ACWA Power participates in collaboration on the Tuban Refinery Project with Pertamina NRE
ACWA and Turban signed a Joint Development Agreement regarding the supply of electricity, steam, and waterpower plants at the Grass Root refinery and Petrochemical Tuban project, East Java. The scope of the cooperation includes developing a power plant with a capacity of 575 megawatts (MW) and a steam generator with a capacity of 3,288 tons per hour. Read More>>
Hitachi Energy and Equinor sign a strategic collaboration agreement to accelerate the energy transition
The agreement underlines both companies’ commitment to accelerate the energy transition and advance a more sustainable, flexible, and secure energy system. The scope of the agreement covers the complete spectrum of Hitachi Energy’s portfolio of power grid technologies and solutions. Read More>>
Averda, WasteFuel partner for the methanol plant at Jebel Ali
The two companies have announced a partnership to develop the first commercial-scale municipal waste-to-renewable methanol plant in the Middle East. The companies announced the partnership at the SMI event held as part of COP27 in Sharm el-Sheikh, Egypt. The plant will produce renewable methanol for shipping from the unrecyclable waste collected and disposed of by Averda. Read More>>
Executive Movement
Ameresco appoints Lenka Patten as Senior Vice President and Chief Human Resources Officer
Ameresco appointed Lenka Patten as its new Senior Vice President and Chief Human Resources Officer. With 20 years of forward-thinking human capital experience, Patten comes to Ameresco with a proven record of implementing integrated human resource strategies that put people first and support the overall mission and vision of organizations. Read More>>
Valaris appoints Catherine J. Hughes to its Board of Directors
Valaris appointed Catherine J. Hughes to the Valaris Board of Directors. Ms. Hughes will also serve on the Board’s Environmental, Social, and Governance Committees. Ms. Hughes has served as a non-executive director of Shell plc since 2017, including as Chair of the Safety, Environment, and Sustainability Committee. Read More>>
Southwest Gas names new finance chief
The company appointed Robert Stefani as its chief financial officer. Stefani will succeed Gregory Peterson. He announced his retirement in May after more than 26 years in the company. Stefani, currently the CFO of Exelon Corp unit PECO Energy, has worked with the energy firm and its parent for over ten years. Read More>>
Financial and market activity
GE Powers Q2 FY23 income dips 11.5% QoQ
GE Power reported that its Q2 FY23 total income was INR 460 Cr (USD 56 Mn), down by 11.5%, compared to INR 520 Cr (USD 63.7 Mn) in Quarter Ended 30 June 2022. The company’s loss before exceptional items for the quarter was INR 112.6 Cr (USD 13.8 Mn) in Quarter Ended (QE) 30 September 2022, compared to INR 63.3 Cr (USD 7.7 Mn) in Q1. Read More>>
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Latest Industry Insights from Draup Braindesk
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Funding Alert
TotalEnergies invests USD 3 Bn in oil exploration
French oil company recently made available USD 3 Bn to be used in projects related to renewable energy in several locations around the country, as well as oil and gas exploration in the Kwanza River Basin, specifically in Block 17. Read more>>
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Startup Spotlight
Company – ZonnepanelenDelen
Total Funding – USD 21.73 Mn
About: ZonnepanelenDelen is a company that finances commercial solar panels. They do this for farmers, entrepreneurs in logistics, entrepreneurs with sports facilities, and all kinds of other SMEs. More than 1 million solar panels have already been financed in the Netherlands by Solar Panels. Read more>>
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Danaher Corporation – Account Intelligence Report
Danaher Corporation focuses on gene therapy development for rare disorders. It focuses on manufacturing safe and cost-effective injectable therapies and providing a fast, final step in manufacturing clinical and commercial biopharmaceuticals.Read More>>
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Orano Account Intelligence Report
Orano focuses on enhancing digital power plants and smart factories using AI, IoT, and sensor technologies to provide autonomous drones and delivery robots for production sites. It reduces the carbon footprint of green emissions by making the facility more energy efficient. Read More>>
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