Energy economy

Thermal Plant

L&T-Owned 1,400 MW Nabha Power Plant Wins Twin Awards at CII Energy Efficiency Summit 2020

Nabha Power, a wholly owned subsidiary of L&T Power Development, won two prestigious awards at the 21st National Award Ceremony for Excellence in Energy Managem…

Elliott Attempting to Prevent Chevron’s Takeover of Noble Energy

Paul Singer’s investment management firm Elliott Management will push for Noble Energy to abandon plans to sell itself to oil major Chevron.

Energy Technology

EU Energy Tech Incubator Opens US Office

European sustainable energy technology incubator EIT InnoEnergy has expanded into the US, opening an office in Boston.

Australia

Tesla Secures Funding for Australia’s Largest Virtual Power Plant

The Australian Renewable Energy Agency has issued AUS$8.2 million in funding for the development of what is claimed to be the largest virtual power plant in the…

Chile

Chile: Mainstream Renewable Power Secures Funding for 630MW of Renewable Generation

Mainstream Renewable Power has closed funding of US$620 million for the second phase of the Andes Renovables wind and solar generation platform in Chile.

Energy Investment

EDP Renováveis to Sell Stake in US Renewable Assets for $700m

Spanish firm EDP Renováveis has agreed to sell its stake in a US wind and solar portfolio to Connor, Clark & Lunn Infrastructure for $700m.

Offshore Wind Power

Crown Estate Scotland Launches Offshore Wind Fund

Crown Estate Scotland has launched a £500,000 fund to go towards sustainable development of offshore wind in the country as part of its net zero commitment.

Energy Investment

Saud Electricity Signs $2.4bn Medium-Term Financing Agreement With 7 Banks

Saudi Electricity Company, the largest utility company in the Middle East and North Africa region, signed on Aug. 26 a syndicated financing agreement worth SR9 …

Hydropower Plant

Research Identifies Need for Multi-Billion Dollar Investments in Asian Hydropower Modernisation

A study conducted by International Hydropower Association for the Asian Infrastructure Investment Bank has found that 66 hydropower stations across 19 countries…

Mitsubishi Hitachi Power Systems Announces Rebrand

Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries Group, has officially changed its corporate name from Mitsubishi Hitachi Power Systems.

Coal-Fired Power Plants

ADB Urged to Withdraw Financing New Coal-Fired Energy Projects

The Asian Development Bank has been urged to withdraw from financing new coal-fired energy projects by its Independent Evaluation.

Energy Investment

EU Bank Acquires 25% Stake in Romanian Gas Company

The European Bank for Reconstruction and Development is strengthening energy security in Moldova with the acquisition of a 25% stake in Vestmoldtransgaz.

United Kingdom

BP to Sell London Headquarters as Work Style Shifts

BP Plc plans to sell its headquarters in central London as it cuts jobs and adopts flexible working.

Solar Company

Centrotec Taking Control of Solar Module Maker Sonnenstromfabrik

German heating and ventilation equipment provider Centrotec SE has agreed to take over PARI Group AG.

Energy Investment

Aveva to Acquire Digital Company OSIsoft for $5bn

Industrial software company AVEVA is to acquire US digital solutions firm OSIsoft for $5bn.