Statkraft to supply solar electricity at Schaeffler sites through their new solar farm

Key Insights and Signals in Energy & Utilities

Centre Setup and Expansion
Cheniere Energy expands Corpus Christi LNG 
The company has outlined an expansion plan for its 1,000-plus acre Corpus Christi Liquefaction facility in Corpus Christi Bay in San Patricio County, Texas. The proposed project would expand the previously approved liquefaction and Stage 3 project facilities. Read More>>
Sembcorp awards a new order of 180.6 MW to Suzlon 
The company announced a new order win to develop a 180.6 MW wind power project for Sembcorp’s renewables subsidiary Green Infra Wind Energy Limited. Suzlon will supply the wind turbines and execute the project, including erection and commissioning. Read More>>
Merger and Acquisition
Schaeffler signs solar PPA in Germany with Statkraft 
The company has agreed to buy solar power from a unit of Statkraft to cover about 11% of its electricity needs in Germany. Schaeffler signed a 10-year solar power purchase agreement (PPA) with Statkraft Markets GmbH that should become effective in 2023. Read More>>
NTPC acquires 600MW Jhabua power plant for INR 925 Cr (USD 115.8 Mn) 
NTPC acquired 600-MW Jhabua Power Plant, which is its first such deal through insolvency proceedings. This is the first acquisition of a power asset by NTPC through the NCLT route, a step forward in accomplishing NTPC’s long-term capacity targets. Read More>>
Naturgy acquires the first hybrid PV solar project in Australia 
The company announced that it acquired the Cunderdin hybrid solar project in Australia. The Cunderdin project will combine approximately 125MWdc of solar photovoltaic capacity with a 55MW battery energy storage system technology. Read More>>
Neptune Energy and Horisont Energi team up on the Errai CCS project in Norway 
An oil and gas company has signed a MoU with the Norwegian low-carbon tech firm Horisont Energi to develop the Errai Carbon Capture and Storage project in Norway. The project includes an onshore terminal for intermediate CO2 storage, intending to store the CO2 in an offshore reservoir permanently. Read More>>
Executive Movement
Ovintiv names Ralph Izzo to its Board of Directors 
Ovintiv named Ralph Izzo an independent member of its Board of Directors, effective September 6, 2022, and that Bruce Waterman will retire from the Board of Directors effective December 31, 2022. Mr. Izzo, 64, currently serves as the Executive Chair of Public Service Enterprise Group Incorporated, having recently retired as their Chair, President, and CEO. Read More>>
Louise Tricoire named vice president of TotalEnergies Marine Fuels 
Louise Tricoire has been named Vice President of TotalEnergies Marine Fuels replacing outgoing VP Jrme Leprince-Ringuet, who leaves to accept a new role within the TotalEnergies organization in Paris. Since 2019, she has been active in reducing the Greenhouse Gas (GHG) emissions of TotalEnergies assets, which is at the heart of TotalEnergies’ strategy. Read More>>
Former chief administrative officer for Wayne County joins DTE Energy 
The company is welcoming a former Wayne County official to its company. The former Wayne County chiefs’ administrative officer will now be responsible for leading DTEs efforts in economic development throughout Michigan. Read More>>
Financial and Market Activity
New Fortress Energy Inc. (NFE) to issue a quarterly dividend of USD 0.10 on September 21st 
The company announced a quarterly dividend on August 3rd. New Fortress Energy has a dividend payout ratio of -38.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Read More>>
Russia’s Gazprom rallies by over 20% after bumper profit and dividend announcement 
The company posted a record first-half profit and promised new dividends to shareholders, sending its shares soaring more than 27% in early trade in Moscow. The majority state-owned energy company announced its board had proposed a dividend of RUB 51.03 (USD 0.83) per ordinary share for the first half of 2022. Read More>>
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Latest Industry Insights from Draup Braindesk

  • Siemens Gamesa focuses on Smart Energy and Renewables by utilizing Internet of Things (IoT) technology to create some of the most sophisticated tangible products that help continue its green-enhancing innovation. 
  • Siemens Gamesa planned to produce a new turbine at its plant in Alajoki-Peuralinna, boosting the local economy and increasing the competitiveness of the 5.X platform  
  • Siemens Gamesa focuses on recyclable wind turbine blades for offshore commercial use, allowing recycling into new applications and defining the next sustainability milestone. 
  • Siemens Gamesa focuses on Green Hydrogen solutions and Wind Farm Development to provide clean energy using renewable resources. 
  • Pamplona Area, Spain, serves as the critical location for Siemens Gamesa, focusing on wind power engineering and development-related engagements. 
  • Product Engineering Services is the highly outsourced segment and holds approximately ~62% of the total outsourcing headcount. Infosys is the critical strategic outsourcing partner for Siemens Gamesa. 

Funding Alert

HUL to invest INR 1.6 Cr (USD 200 K) each in five plastic waste management startups
FMCG major Hindustan Unilever (HUL) has launched a program called Transform Plastics Challenge to back Indian tech startups working in plastic waste management. HUL will invest in five homegrown tech startups developing plastic waste, reuse, and compostable packaging solutions. Read more>>

Startup Spotlight

Company – Okra Solar
Total Funding  USD 2.1 Mn
About: Okra Solar is an IoT technology solution that enables solar-generating communities to share and utilize more energy. The plug-and-play smart grid technology allows rapid electrification for last-mile communities. Read more>>

Latest Reports Published in Draup

BP plc Account Intelligence Report 
BP focuses on advanced technology, reducing greenhouse gas emissions, and providing affordable and sustainable solar power for businesses and communities. It focuses on delivering Energy-as-a-Service, EV fast chargers, hydrogen infrastructure, transportation, and sustainable solutions. Read More>>
Wartsila Corp Account Intelligence Report 
Wartsila delivers highly efficient biogas upgrading solutions by replacing fossil fuels, which provides significant green energy benefits. It focuses on the Decarbonization of Energy, Gas Turbine engines, and Connected Marine Services to improve its capabilities. Read More>>
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