Key Insights and Signals in Energy & Utilities
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Centre Setup and Expansion
Baker Hughes opens new chemicals facility in Singapore
Baker Hughes’ facility, of approximately 40,000 sq m, will manufacture, store and distribute chemical solutions for upstream, midstream, downstream, and adjacent industries to support regional customers and boost Baker Hughes’s localization efforts. Read More>>
EnBW breaks ground on a 17.3-MW solar project in Baden-Wuerttemberg
The company has begun the construction of a 17.3-MW solar park in Baden-Wuerttemberg, which is expected to supply clean electricity to 5,810 households. The solar farm will be in the town of Emmingen-Liptingen, southern Germany, and will be Baden-Wuerttemberg’s largest solar facility in operation
so far. Read More>>
Deals
Tata Motors signs PPA with Tata Power to develop an onsite solar project
The project will be a significant move to increase the renewable energy portfolio at its manufacturing facility. With this project, the onsite solar plant capacity of Tata Motors’ Jamshedpur facility will reach 14 MWp, generating 442 million units of green electricity, potentially reducing carbon emission by 3.5 lakh tonnes. Read More>>
RWE kicks off works on a 10-MW solar project in Spain
RWE started early construction on a 10-MW ground-mounted solar project in Badajoz province, southwest Spain. Las Vaguadas joins the Casa Valdes and the Puerta del Sol solar projects, each of 44 MW, that RWE is currently building in central Spain. Read More>>
BP’s subsidiary Castrol signs a strategic deal with BYD China
BP signed a three-year strategic collaboration agreement with Shenzhen-based manufacturer BYD China. BP recently has been increasing its investment in electric vehicles. The company will invest up to GBP 50 Mn (USD 59 Mn) in a new electric vehicle battery testing center and analytical laboratory in Pangbourne, Southeast England. Read More>>
Merger and Acquisition
Phillips 66 announces an offer to acquire outstanding publicly held common units of DCP Midstream, LP
Phillips 66 realigned its economic and governance interests in DCP Midstream, LP (DCP Midstream). The company submitted a non-binding proposal to the board of directors of the general partner of DCP Midstream, offering to acquire all publicly held common units of DCP Midstream for cash. Read More>>
Yorkshire water treatment specialist acquired by founder’s daughter in a seven-figure deal
The founder’s daughter has acquired the company in a seven-figure deal backed by Mercias SME Loans fund. The buy-out of Yorkshire-based Excel Water gives control of the business to Emma Armitage, the current managing director. It allows for the partial retirement of her brother Darren Field. Read More>>
Lone Star Disposal acquired by Waste Connections
The company points to its acquisitions of Pennsylvania-based Alumisource and Maryland-based Atlantic Recycling Group as new volume contributors in the future. In Australia, the company is undertaking a Deepwater port facility project in Brisbane that will include a best-in-class shredder processing design.
Read More>>
Executive Movement
ALLETE announces major leadership changes; Johnson elected President
Nicole Johnson has been elected President of ALLETE Clear Power. Johnson served as ALLETE’s chief govt officer and continues to function as ALLETE’s VP. Johnson, who was a part of ALLETE Clear Power over ten years in the past, has served as ALLETE’s chief govt officer since 2019. Along with serving as President of ALLETE Clear Power. Read More>>
Eva Riesenhuber appointed global head of Sustainability; Eva Scherer new head of Investor Relations
The company appointed global head of Sustainability Eva Scherer, the new head of Investor Relations. Jenny Bofinger, currently head of Sustainability, will join the board of the newly formed International Sustainability Standards Board. Read More>>
Vistra names industry veteran Stacey Dor as Chief Strategy & Sustainability Officer
Vistra will appoint Stacey Dor as its first chief strategy and sustainability officer and executive vice president of public affairs. Dor, who previously worked for Vistra’s predecessor companies, will report to Vistra’s President and chief executive officer, Jim Burke. Read More>>
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Latest Industry Insights from Draup Braindesk
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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.
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Funding Alert
ReNew Power raises USD 1 Bn through ECB for the battery-enabled project
ReNew will use the funding for its upcoming hybrid round-the-cock (RTC) battery-enabled project. The company has signed a power purchase agreement with the Solar Energy Corporation of India (SECI) for the battery project at Rs 2.90 per unit with a 3% escalation annually for 15 years. Read more>>
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Startup Spotlight
Company – Banyan Nation
Total Funding – USD 14.3 Mn
About: Banyan Nation is a new-age recycling company that is formalizing the informal supply chain through a data intelligence platform and has developed a pioneering plastics cleaning technology to produce near virgin grade recycled HDPE material. Read more>>
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Sales
