Key Insights and Signals in Energy & Utilities
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Deals
Tenaris supplies Aker BP with premium technologies for the Fenris project
Aker BP and Subsea7 Norway have awarded Tenaris two contracts for supplying casing, tubing, and line pipe for the Fenris gas reservoir project. Tenaris will provide approximately 7,000 tons of pipes with advanced connections and Dopeless technology. The deal includes subsea tieback engineering and installation by Subsea7 Norway. Read More>>
ADNOC hands out a seven-figure deal for 14 oil & gas fields
ADNOC Offshore has awarded ICR Integrity and Advanced Petro Services a long-term contract. The contract involves a five-year composite repair project for all ADNOC Offshore assets, including artificial islands, using Technowrap engineered composite repair solution. The project aims to provide cost-effective rehabilitation to pressure systems in 14 fields and oil operation centers. Read More>>
Suzlon bags 69 MW wind energy order
Suzlon has received a 69 MW wind energy order from the Nordic Energy Company. The order is for the development of a wind power project in India. Suzlon will install 23 wind turbine generators, each with a rated capacity of 3 MW, as part of the project. Read More>>
Partnerships
Marmora Clean Energy Hub Project – public comments invited on the summary of the initial project description
Northland Power Inc and Ontario Power Generation have partnered with the Marmora Clean Energy Hub Project. This partnership involves collaborating on developing and implementing the pumped storage and hydroelectric generating facility in Marmora and Lake, Ontario. Read More>>
NTPC Green Energy and HPCL Mittal Energy collaborate for renewable energy and green hydrogen initiatives
NTPC Green Energy Limited and HPCL Mittal Energy Limited signed an MoU in New Delhi to collaborate on renewable energy and green hydrogen initiatives. The MoU aims to source 250 MW of Round-The-Clock renewable power for HMEL and explore opportunities in the Green Hydrogen business and its derivatives, such as Green Ammonia and Green Methanol. Read More>>
Centre Setup and Expansion
E. ON and Pliva put the largest Croatian solar power plant into function
Pliva and E. ON opened Croatia’s most powerful solar power plant in Novi Marof. With an installed capacity of 9.71 megawatts, the plant will meet 30% of Pliva’s energy needs at the site. The project features over 17,800 solar panels covering 60,000 square meters. Read More>>
Enel to spend USD 1 Bn plus on solar panel factory in Oklahoma
Enel will invest over USD 1 Bn to construct a major solar cell and panel manufacturing facility in Oklahoma, making it one of the largest in the US. The factory aims to initially have an annual production capacity of 3 GW, with potential future expansion to 6 GW. Read More>>
Mergers and Acquisitions
Chevron acquires PDC Energy
Chevron acquired PDC Energy, Inc in an all-stock transaction worth USD 6.3 Bn. It strengthens Chevron’s position and supports its objective of delivering higher returns and lower carbon emissions. Chevron aims to achieve higher returns and lower carbon intensity through this transaction. Read More>>
Targa closes acquisition of pan-Canadian lithium
Targa Exploration Corp acquired Pan Canadian Lithium, gaining ownership of highly prospective lithium projects in Saskatchewan and Ontario, Canada. The acquisition involved issuing 5,766,666 common shares and acquiring Pan Canadian Lithium’s cash position of approximately US $240,000. Read More>>
Executive Movement
DTE Energy names new leaders of DTE Foundation, Corporate Citizenship and Customer Outreach
DTE Energy promoted Rodney Cole to the president of DTE Foundation and Corporate Citizenship, succeeding Lynette Dowler. Evette Griffie becomes vice president of Customer & Community Engagement, responsible for energy assistance and strengthening partnerships. Both leaders will drive DTE’s commitment to customer and community engagement. Read More>>
Enerplus appoints Ward Polzin to its Board of Directors
Enerplus Corporation appointed Ward Polzin to its board of directors. Polzin brings over 35 years of experience in leadership, engineering, finance, and investing in the energy industry, adding valuable perspectives to Enerplus’ board and management team. Previously, Polzin was CEO of Centennial Resource Development and played a key role in Tudor, Pickering, Holt & Co. Read More>>
SunPower appoints Audrey Zibelman to its Board of Directors
Audrey Zibelman joined SunPower’s board. Zibelman’s clean energy innovation and leadership in private and public sectors will help SunPower accelerate solar energy and home electrification. Read More>>
Financial and Market Activity
Asian Energy Services Ltd consolidated a Q4FY23 loss at USD 793K
The company reported a decrease in total income to USD 3.6 Mn in Mar 2023 from USD 7.5 Mn in Mar 2022. The company incurred a net loss of USD 794K in Mar 2023 compared to a profit of INR USD 108K in Mar 2022. Read More>>
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Latest Industry Insights from Draup Braindesk
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Emission-Free Energy Services
- Pacific Gas and Electric Company improves carbon-free energy services to generate greenhouse gas sources and a carbon-free energy framework system. Carbon-free energy is a form of electricity generation that does not produce greenhouse gas emissions.
- The company wants to develop carbon-free, sustainable aviation fuel, and renewable diesel biorefineries. It uses distillers, corn oil, and other renewable oils to produce low-carbon intensity renewable jet and diesel fuel using cellulosic hydrogen derived from orchard and forest wood waste.
Innovative Battery Charging Services
- Pacific Gas and Electric Company is committed to innovating battery charging technology services to develop lithium-air batteries that could significantly increase the range of electric vehicles, thereby supporting vehicle-to-grid technology by decreasing energy consumption.
- The company intends to deliver Renewables Portfolio Standard (RPS) clean electricity and grid EV-related electric load and facilitate rapid, safe EV energization and interconnection to reduce PG&E’s carbon footprint, which will benefit its customers and communities.
Advanced Electricity Safety Services
- Pacific Gas and Electric Company’s Wildfire Mitigation Plan focuses on introducing new technological solutions, such as partial voltage detection, and preventing wildfire ignitions as quickly as possible. It automates expanding advanced powerline technology features, such as newsletters, webinars, letters & emails, and outage alerts.
- Service Providers would best serve Pacific Gas and Electric Company with extensive experience in expanding Advanced Electricity Safety Services.
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Key Funding Alert
Statkraft to invest US$ 1.1 Billion in wind, solar, and hydrogen capacity in Germany
Statkraft aims to have a total of 2,000 MW of wind and solar capacity in operation in addition to its existing portfolio of 1,800 MW, which includes gas-fired plants. It plans to have 250 MW of electrolysis plant capacity ready for production by 2030. Read more>>
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Startup Spotlight
Company – Pacifico Energy Partners
Total Funding – USD 21.48 Mn
About: Pacifico is a wind and solar energy company offering battery and hydrogen technologies. It creates greenfield projects, repowers existing plants, offers cutting-edge asset management services, and facilitates the purchase of operational and turnkey plants. Read more>>
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Latest Reports Published in Draup
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Here’s what’s new on our Sales Intelligence Platform
IT Spend analysis in an account’s financials view
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- Introducing IT Spend Analysis in an Account’s Financials view to help you understand the account spending propensity
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