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Energy economy
Hydropower Plant
Additional Investment Announced for Kivalliq Hydro-Fibre Link Project, Canada
Additional investment of around $3 million has been approved to support the potential development of a hydroelectric and fibre-optic link that would connect com…
LNG
MIC Approves $2.5bn Investment for Myanmar Power Plant
MIC announced the investment at a meeting chaired by State Administration Council member and MIC chairman, Lieutenant–General Moe Myint Tun, along with other m…
Energy Investment
The OPEC Fund to Support Renewable Energy Projects in Nepal
The loan represents the OPEC Fund's first financial institution transaction in the country.
United Arab Emirates
First Green Mortgages Issued in UAE Through HSBC Bank
Climate change has become a global pressing issue and governments and private entities are racing to find new ways to incentivise green investment
United Arab Emirates
Dana Gas Year on Year Profits Leap 41pc in Q1
Abu Dhabi-listed Dana Gas reported net profits of $24mn in the first quarter of this year, up 41pc versus the corresponding quarter in 2020, as it boosted produ…
Siemens Energy Reports Moderate Drop in Q2 revenue
Siemens Energy has reported a decrease in revenue by 4.4%, down to €6.5bn, for the second quarter of 2021, compared to €6.78bn in the same quarter of last yea…
Energy Investment
UN Chief Urges Banks to Halt Fossil Fuel Infrastructure Financing
Banks should finance low-carbon climate-resilient projects, not big fossil fuel infrastructure that is not even cost-effective anymore, UN Secretary-General Ant…
United States
Siemens Energy to Shut Olean Plant
Siemens Energy has announced plans to shut its plant in Olean, New York by June 2022
Oil Price
Saudi Arabia Could Slash Deficit To Below 5% Of GDP At $60 Oil
The world’s largest oil exporter, Saudi Arabia, could see its budget deficit drop to below 5 percent of gross domestic product this year if oil prices average …
Wind Power Project
Bank of Ireland and EIB Co-Finance €100m Wind Energy Project
The European Investment Bank is partnering with the Bank of Ireland to co-finance a €100 million wind energy farm project.
Energy Investment
Iraq to Invest $3bn Over Five Years in the Basrah Gas Company
Baghdad has also looked at forming other alliances regionally, to wean its dependence off Iranian gas
Wind Power Project
JSW Renew Energy Signs Wind PPA in India
Indian power company JSW Energy’s subsidiary, JSW Renew Energy, has signed a 540MW power purchase agreement with the Solar Energy Corporation of India for blen…
Total Acquires Interest in Yunlin Holding GmbH from wpd
Total has signed an agreement with wpd to acquire a 23% interest in Yunlin Holding GmbH, the owner of Yunlin offshore wind farm located off the coast of Taiwan,…
Power Construction
US DOE Promises Loans for Electric Infrastructure Projects
The US Department of Energy (DOE) has announced loans of up to $8.25bn to support projects for expanding and improving the country’s electricity grid.
RCEP
Japan Approves RCEP, World's Largest Trade Deal Including China, ASEAN
Japan's upper house of parliament on Wednesday approved the world's largest free trade deal RCEP which comprises 15 Asia-Pacific countries.
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