USA > Switzerland’s Alevo to invest $251Mn in North Carolina

ALEVO-LogoRedefiningEnergy Switzerland based Alevo to invest $251Mn in Cabarrus County, North Carolina for expansion of its facility for large scale energy storage systems. The expansion will also help create around 200 jobs in five years’ period. A state Job Development Investment Grant (JDIG) will grant $2.63 million in total reimbursements for Alevo for their expansion effort in North Carolina.   About More …

ENGLAND > Delek Group has acquired 13.18% stake in Faroe Petroleum from Dana Petroleum for $51.94Mn

delek_group Israel based Delek Group has acquired 13.18% stake in Faroe Petroleum from Dana Petroleum. The deal was possible as Dana Petroleum sold the shares it owned in Faroe Petroleum for £0.89 ($1.08) per share. Dana owned 48,055,825 ordinary shares in Faroe. So, the overall deal stands at £42.77Mn ($51.94Mn). Faroe is an oil and natural gas exploration and production company More …

UAE > BP acquires Abu Dhabi Oil Field Stake for $2.2 bn

bp-logo British oil and gas company BP acquires Abu Dhabi Oil Field Stake in a deal worth $2.2 bn. This visionary acquisition will help BP secure new reserves and production for the next decade. After the deal Chief Executive Officer of BP, Bob Dudley said, “It’s time for BP to start growing” as the company starts to recover from the catastrophic oil spill in Gulf More …

MEXICO > US based Sempra Energy Acquires $900 Million Worth of Mexican Wind Farms

sempra-energy-logo California, US based Sempra Energy’s Mexican subsidiary Infraestructura Energética Nova (IEnova) has acquired Ventika I and Ventika II wind generation facilities in Mexico for approximately $900 million. The deal has been approved by Mexico’s antitrust commission- ‘The Comisión Federal de Competencia Económica’. Ventika I and Ventika II are located in Nuevo León, Mexico and is the largest operating wind farm More …

SCOTLAND > China based Red Rock Power Opens New Office in Edinburgh

20150428051145076 China’s State Development & Investment Corporation (SDIC) subsidiary Red Rock Power Limited opens new office in Edinburgh, Scotland. The Scottish government said the state-owned investment holdings company plans to invest further in renewable developments in Scotland, building on its existing offshore wind projects. “SDIC’s presence here is a vote of confidence in our renewable sector and we are committed to More …

INDIA > Rosneft and Partners Buy Essar Oil for $13 Billion

rosneft_logo-svg Russia’s state-controlled oil giant Rosneft, Netherlands based Trafigura Group and Russian investment fund United Capital Partners bought India’s second biggest private oil firm – Essar Oil – in an all-cash deal valued at around $13 billion. The deal is expected to close in first quarter of 2017. Rosneft bought a 49 per cent stake in Essar Oil’s refinery, port and More …

MYANMAR > AIIB to Finance Energy Project in Myanmar

myingyan The Asian Infrastructure Investment Bank (AIIB) recently approved a US$20 million loan to finance a 225 MW Combined Cycle Gas Turbine Power Plant Project in Myingyan, Myanmar, co-financed with other Multilateral Development Banks and commercial banks according to AIIB’s press release. The power plant will be the largest Gas-Fired Independent Power Producer (IPP) in Myanmar and it aims to helps pacify the More …

PAKISTAN > Chinese state owned power entities vying for controlling stake in Karachi based K-Electric

k-electric State owned Chinese companies are pushing to buy a $1.5 billion controlling stake in K-Electric. K-Electric Limited, formerly known as Karachi ElectricSupply Company Limited (KESC), is at present the only vertically-integrated power utility in Pakistan that manages the generation, transmission and distribution of electricity to the city of Karachi – according to its website. According to K-Electric’s website, it was established More …