TotalEnergies and Corio to develop wind projects to support Taiwan’s low-cost energy transition

Key Insights and Signals in Energy & Utilities

Centre Setup and Expansion
Gasum begins work on new biogas plant in Sweden
Gasum is working on its latest biogas plant project in the Swedish community of Gtene. Having received final construction permits at the end of January 2023, the plant will produce 120-gigawatt hours worth of liquefied biogas or LBG per year from early 2025 onwards. Read More>>
Vattenfall invests in 76MW agrivoltaics plant in Germany
Swedish state-owned utility company has invested in a 76MW agrivoltaics (agriPV) project in the northeastern municipality of Ttzpatz, Germany. Construction of the project is planned for early summer 2023 and will combine bifacial modules on different mounting systems with suitable agricultural uses over an area of 95 hectares. Read More>>
Acciona signs Spanish solar PPA
Acciona signed a PPA with medical technology firm Zimmer Biomet to supply 100% renewable electricity in Spain for 12 years. Through the agreement, Zimmer Biomet will achieve a more sustainable energy model in Europe, advancing its decarbonization goals. Read More>>
Ansaldo Energia to supply four turbines to Azerbaijan
Ansaldo Energia will supply four gas turbines to Azerenergji, and the agreement includes the supply of the four AE94.3A turbines, valued at more than USD 160 Mn. With this new supply, the plant will have two gas turbines for each steam turbine, resulting in a significant increase in efficiency and a decrease in gas consumption. Read More>>
Merger and Acquisition
ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Marketing Egypt
ADNOC acquired a 50% stake in TotalEnergies Marketing Egypt. The transaction, first announced in July 2022, marks the company’s entry into the Egyptian market. ADNOC Distribution plans to bring its Oasis convenience store to Egypt and introduce the digitally-enabled service station offering. Read More>>
TotalEnergies and Corio partner to develop three offshore windfarms in Taiwan
The two companies have partnered to develop Taiwan’s Formosa 3 offshore wind farms. The Formosa 3 project comprises three proposed offshore wind farms Haiding 1, 2, and 3, in Changhua County on the central-western coast of Taiwan. Read More>>
Executive Movements
Petrobras names new CFO
Petrobras announced that its Chief Executive Officer Jean-Paul Prates appointed Sergio Caetano Leite as the company’s chief financial officer. The company also added Clarice Coppetti was appointed head of institutional relations and sustainability. Read More>>
Cenovus CEO Pourbaix to step down and become executive chair
Cenovus’s chief executive Alex Pourbaix will step down from his CEO role later this year to devote more time to his evolving role as an outspoken champion of Canada’s oilsands industry and its decarbonization ambitions. Read More>>
Financial and Market Activity
Sembcorp Industries’ profit triples on higher power prices in key markets
Sembcorp’s annual profit tripled as its conventional energy segment saw a robust performance due to higher energy demand in Singapore and the United Kingdom. Net profit before items for the traditional energy segment, a significant revenue churner for the group, more than doubled to USD 766 Mn, as it cashed in on elevated power prices in its key markets of India, Singapore, and the UK. Read More>>
ReNew Power posts improved annual results thanks to increased operating capacity
ReNew Power narrowed its net loss in Q3 FY23 year-on-year, while there was an increase in total income due to expanded operating capacity. In its latest financial results announcement, the company said its net loss for Q3 FY23 was USD 49 Mn compared to USD 77 mn for Q3 FY22, with the improvement primarily due to higher total income in Q3 FY23. Read More>>
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Latest Industry Insights from Draup Braindesk

Recycling Capabilities Expansion
  • Waste Management attempts to recycle flexible plastic and film into PCR, which can then be utilized to make new products by replacing virgin materials and increasing the volume of PCR pellets used to manufacture new products. 
  • Waste Management is working with leading companies to improve the usage of recycled plastic in goods and merging their capabilities to provide the industry with more options for difficult-to-recycle plastics.
Renewable Energy Solutions
  • Waste Management has invested in expanding its renewable natural gas (RNG) infrastructure to supply enough renewable energy. By 2026, that would result in a reduction of CO2 emissions by almost 1.3 million metric tonnes. 
  • The organization is looking for ways to increase energy efficiency in its buildings by applying various technologies and best practices that decrease environmental impacts, improve operational efficiencies, and save money.
Digitizing Recycling Process
  • Waste Management places a high priority on investing in the creation of cutting-edge recycling facilities and the reconstruction of the current facility with a new next-generation design using technologies related to processing automation, artificial intelligence, machine learning, cloud computing, and the internet of things. 
  • It promotes recycling with increased productivity, makes it possible to recycle more types of plastic, widens the selection of recyclable materials that meet the high standards of quality for its commercial clients and municipal communities and contributes to the advancement of environmental solutions. Service Providers with rich expertise in digital recycling technology would be able to find better solutions.

Key Funding Alert

ADNOC to raise USD 2 Bn by listing natural gas business in the largest public offering in 2023
Abu Dhabi National Oil Co. will offer a 4% stake in ADNOC Gas, formed through a merger of liquefied natural gas and gas-processing arms. The IPO is part of a drive by energy-rich Persian Gulf nations to fund the diversification of their economies and open their stock markets to international investors. Read more>>

Startup Spotlight

Company – Complete Solar
Total Funding  USD 34 Mn
About: Complete Solar sells directly to consumers and provides partners with a platform for managing every aspect of the customer experience. It provides a standardized platform that partners can use to diversify their product mix, grow revenue, and increase customer satisfaction. Read more>>

Latest Reports Published in Draup

Phillips 66 Account Intelligence Report
Phillips 66 focuses on energy and transformation solutions to provide a better service to customers. Its key focus area is energy management solutions. It diversifies and expands its business offerings through strategic partnerships and technological innovation. Read More>>
LG&E and KU – Account Intelligence Report
LG&E and KU are working on a novel project focusing on producing hydrogen while capturing CO2 directly from the air. It focuses on establishing a Hydrogen hub to make hydrogen a low-carbon solution for the future, to reach net zero emissions by 2050. Read More>>
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