Energy economy

Centrica’s Profits Soar Five-Fold

Profits of Britain’s largest energy supplier increased to £1.34 billion

Iberdrola Sees Profits Soar With International Business Offsetting Spain’s Results

Iberdrola has recorded a net profit of €2.07 billion (US$2.1 billion) in the first half of 2022 due to strong performances in its international business offset…

Wind Power Project

ABO Wind Sells 514.6MW Buffalo Plains Wind Project in Canada

The Buffalo Plains project in Alberta will generate 1.5GWh of clean electricity a year.

Spain

PNE Acquires 51% Stake in Spanish Solar Project Developer Kolya

The acquisition has increased PNE’s solar photovoltaic project pipeline by more than 40%.

Solar Power Panel

ENERPARC Refinances 315 MW Solar Portfolio

ENERPARC, Commerzbank, and Landesbank Baden-Württemberg have concluded one of the largest German transactions to refinance a 315 MW photovoltaic (PV) portfolio…

Shell Reports Record Profit of $11.5 Billion

Shell on Thursday reported a profit of $11.5 billion for the second quarter, beating expectations, lifted by strong refining profits and energy prices.

Natural Gas

EU Greenlights €5BN German Scheme to Support Energy and Trade Intensive Firms

Under the measure, the aid will take the form of direct grants for additional costs due to severe increases in natural gas and electricity prices

Octopus Raises $550M in Latest Fundraising Round

The energy supplier plans to use the money to further improve its energy technology platform, Kraken

Spain

Iberdrola and EU Bank Ink €550M Loan to Boost Renewable Energy in Spain

The loan will support the construction of solar and wind farms with a total capacity of around 1,800MW, generating enough electricity to power around one millio…

Ørsted to Acquire Wind and Solar PV Developer Ostwind

Ostwind’s portfolio includes 152MW in operation and under construction and around 526MW in advanced development stages.

Finland

Neoen and Prokon Sign Second PPA With Equinix

Neoen and Prokon have announced the signing of a new power purchase agreement (PPA) with Equinix to provide at least 42 MW of green energy in Finland.

Record Profits Could Convince Oil Majors to Hike Dividends

Strong up-and-downstream performance make for strong big oil earnings expectations.

The Future Is Bright for Artificial Intelligence in the Middle East

Several nations are embracing AI to diversify and bolster their economies.

United Kingdom

Centrica Slams Octopus’ Proposals for Protecting Consumer Credit Balances

Independent review conducted on behalf of British Gas found that a compulsory co-insurance model would not protect credit balances

United Kingdom

Anglo-German Interconnector Project Reaches Financial Close

The NeuConnect interconnector project linking the UK and German energy markets has reached financial close.