Key Insights and Signals in Energy & Utilities
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Centre Setup and Expansion
Dominion Energy Virginia opens energy storage pilot project in Powhatan county
The company announced the Scott Solar facility in Powhatan County, is now operational. The Scott Solar facility features three independent 4-hour battery systems totaling twelve megawatts. The Virginia State Corporation Commission has approved all three projects. Read More>>
LG&E and KU to open the fifth section at the Solar Share facility
The fifth section of the company’s Solar Share facility in Shelby County will become operational later this month. According to information released by the company, the facility is presently home to 6,000 solar panels that produce two megawatts of power. Read More>>
Deals
KOGAS signs a business agreement with Matrix of the U.S.
The company has signed a business agreement with Matrix Service Co. of the United States to develop a large liquid hydrogen storage tank and cargo hold. About ten officials from both companies, including KOGAS president Chae Hee-bong and Matrix president John Hewitt, attended a signing ceremony at the Plaza Hotel in Seoul on Aug. 5 Read More>>
Beach Energy signed a deal with BP to sell 3.75 million tonnes of LNG
The company has signed a sale and purchase agreement with BP for 3.75 million tonnes of liquid natural gas. Confirming the deal had been made, Beach Energy announced that the gas would begin export in the second half of next year under a five-year agreement. Read More>>
Merger and Acquisition
Sval Energi to buy Suncor Norway for USD 410 Mn
Sval will acquire Suncor Energy Norge, adding four thousand barrels of oil equivalent and nineteen million barrels of oil equivalent in reserves on the Norwegian Continental Shelf to its portfolio. The deal is worth about USD 410 Mn Canadian dollars and is expected to complete in Q4 this year. Read More>>
Iberdrola to acquire renewable project portfolio in Poland
The company has concluded a preliminary agreement with Augusta Energy to acquire a 98 MW wind and solar project portfolio in Poland. The portfolio includes two wind farms with a combined capacity of 50 MW and six solar photovoltaic plants with a combined capacity of 48 MW. Read More>>
Edison S p A acquires a 66 MW wind power plant in Campania from Axpo Edison
The company acquires a 66 MW wind power plant from Axpo Edison. Following this acquisition, Edison will operate a 136 MW wind farm in the province of Avellino that meets the energy needs of 96,000 households, thus confirming its commitment to the renewable development of the country and supporting its energy transition challenge. Read More>>
Executive Movement
New Jersey Resources names Pohlman VP of NJR Clean Energy Ventures and Corporate Strategy
Robert Pohlman was named vice president of NJR Clean Energy Ventures and Corporate Strategy. Pohlman will be responsible for leading and developing the renewable energy business while also driving new growth opportunities and strategic initiatives across NJR. Read More>>
Essential Utilities appoints new Chief of Staff
Essential Utilities promoted Dave Kralle to Chief of Staff to the Essential Chairman and CEO Christopher Franklin, who created the role shortly after his appointment in 2015. Franklin created the role in recognition that people are the company’s greatest asset and that managing a large, geographically dispersed organization naturally presents challenges. Read More>>
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Latest Industry Insights from Draup Braindesk
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Funding Alert
Pennsylvania American Water invests USD 40 Mn in Lackawanna and Luzerne counties
Pennsylvania American Water will upgrade seven dams in Lackawanna and Luzerne counties. Work will allow the dams to continue to meet Pennsylvania Department of Environmental Protection Dam Safety regulations. Read more>>
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Startup Spotlight
Company – Zap Energy
Total Funding – USD 202.8 Mn
About: Zap Energy’s fusion reactor stabilizes plasma using sheared flows rather than magnetic fields. Driving electric current through the flow creates the magnetic field, which confines and compresses the plasma. Its reactor is inexpensive, compact, and scalable, with the shortest path to commercially viable fusion. Read more>>
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