Energy economy

Germany

German Government to Acquire 30% of Uniper

The energy major has signed a €15bn bailout deal.

TES Completes Green Energy Fundraising Round

Tree Energy Solutions (TES), a world scale green hydrogen company with a mission to deliver on a net zero future by decarbonising the energy chain, has announce…

Amazon Announces $20,000 Green Grant for Sustainable Retailers

E-commerce giant is awarding US green retailers $20,000 grants to promote the adoption of sustainable practices

United Kingdom

ZeroAvia Attracts $30MN in New Funding

New investment from Barclays, NEOM, AENU and IAG will further advance ZeroAvia’s 2-5MW hydrogen-electric powertrain development program.

Energy Giants Pen $4BN Algeria Oil and Gas Contract

The contract that will last more than two decades will see companies increase oil and gas production in Eastern Algeria fields.

Algeria’s Sonatrach Strikes Production Deal With TotalEnergies, Occidental and Eni

New production-sharing contract is for 25 years for onshore blocks in eastern part of North African country

Mainstream and Actis Agree to Sell African Renewables Giant Lekela

Renewable developer Mainstream Renewable Power and investor Actis have signed an agreement to sell the Lekela Power platform to Infinity Group and Africa Financ…

The Green Economy, an Imperative for Economic Sustainability in Africa

As one of the chosen pilot countries, Mozambique hosted a dialogue focused on the green economy in Africa.

Egypt

Egypt’s Infinity to Become Africa’s Largest Renewable Energy Company

Infinity and Africa Finance Corporation will acquire Lekela Power in deal that includes 2.8-gigawatt portfolio of wind power and greenfield projects

France

France to ‘Be Sued Over Its Plan to Nationalise EDF’

An association of EDF employee shareholders has said the government’s decision defies the interests of its minority shareholders

MENA Power Projects Forum 2022 to Focus On US$250 Billion Worth of Upcoming Power Projects in MENA Region

Power and utilities companies will have enough businesses as governments in the MENA countries plan to implement US$250 billion worth of power projects includin…

Worley to Digitise Shell Gulf of Mexico Assets

Engineering giant will focus on five Shell facilities

GE’s Energy Business Will Have a New Name—Vernova

General Electric (GE) is again announcing changes to its corporate structure, with the company on July 18 saying its energy and other businesses will operate un…

India

Firetrace Expands Into Chinese and Indian Markets

Firetrace International, a provider of fire suppression technology, has opened facilities in India and China, bringing its fire safety support to these rapidly …

Uniper: How Long 2 Bln Euro Credit Facility Will Last Depends on Market

Embattled German utility Uniper said that how long a 2 billion euro ($2.02 billion) credit facility it drew down earlier Monday would depend on how the market d…