Business & Finance

BayWa r.e. Secures $115M Credit Facility to Support Late-Stage Solar+Storage Projects – EQ Mag

May 3, 2023 Anand Gupta

Funding will support BayWar.e.’s efforts to advance its pipeline across the U.S. IRVINE, Calif. : BayWa r.e. has secured a $115-million credit facility with global financial services firm Nomura to support the development of utility-scale solar and solar+storage projects as it continues to grow its footprint in the U.S. clean energy market. The credit facility […]

Business & Finance

ADNOC Gas signs three-year LNG supply agreement with TotalEnergies Gas and Power – EQ Mag

May 3, 2023 Anand Gupta

The three-year contract is expected to commence in 2023 ADNOC Gas plc on Monday announced a three-year supply agreement valued at up to $1.2 billion with the French multi-energy company TotalEnergies Gas and Power Limited for the export of liquefied natural gas (LNG). Under the terms of the agreement, through its subsidiary, ADNOC Gas will […]

BP Plans Green Hydrogen Base in U.K. as Energy Transition Speeds Up

Business & Finance

British Petroleum pays $1 billion under Britain’s windfall tax – EQ Mag

May 3, 2023 Anand Gupta

LONDON : BP expects to pay $1 billion under Britain’s windfall tax on the oil and gas sector between May 2022 and April 2023, the company said on Tuesday. BP paid a total of $650 million in tax in Britain in the first quarter of 2023, of which $300 million came under the Energy Price […]

Reliance, Ola Electric win incentives in $2.4 billion battery scheme

Business & Finance

Ola clocks sales of over 30,000 units in April; wrests 40% market share – EQ Mag

May 3, 2023 Anand Gupta

Bengaluru : Ola Electric, India’s largest electric vehicles company, has wrested 40% of the EV scooter market, as it announced its sales figures for the month of April, 2023. Riding on its highest-ever monthly sales in April, selling over 30,000 units, Ola also secured the number one position on the sales for 8th consecutive months. […]

Business & Finance

Adani Green Energy shares climb nearly 3 pc after earnings announcement – EQ Mag

May 3, 2023 Anand Gupta

Shares of Adani Green Energy climbed nearly 3 per cent on Tuesday after the company posted a four-fold rise in its consolidated net profit for the March quarter. The stock ended 2.47 per cent higher at Rs 974.10 on the BSE. During the day, it climbed 4.99 per cent to Rs 998.10. At the NSE, […]

Energy giant BP speeds up renewable energy makeover plan

Business & Finance

BP profit rises to $5 bln as share buyback slows – EQ Mag

May 3, 2023 Anand Gupta

LONDON : BP made a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading as the company pared back a share buyback programme. BP’s profit, which beat forecasts, follows strong results from rivals including Exxon Mobil and Chevron last week […]

Business & Finance

Yield10 Bioscience and Marathon Petroleum Corporation Sign LOI for Potential Investment and Offtake Agreement for Camelina Feedstock Oil for Renewable Fuels – EQ Mag

May 2, 2023 Anand Gupta

Yield10 Bioscience, Inc. (Nasdaq: NASDAQ:YTEN) today announced that it has signed a non-binding Letter of Intent (“LOI”) with Marathon Petroleum Corp. (NYSE:MPC) for a potential investment and offtake agreement for low-carbon intensity Camelina feedstock oil for use in renewable fuels production. Marathon is a leading, integrated downstream energy company in the U.S. “Yield10 continues to […]

Shell’s renewables boss steps down after less than two years

Business & Finance

BP agrees to buy Shell’s stake in Australian Browse gas project – EQ Mag

May 2, 2023 Anand Gupta

The Browse project, estimated to cost $20.5bln, has been stuck on the drawing board for years but is now being considered as a replacement for ageing gas fields to supply the North West Shelf LNG plant SYDNEY : BP has agreed to buy rival giant Shell’s 27% stake in the Browse joint venture, expanding its […]

Business & Finance

Sunlit Power invests INR 100 crore in automating Pune unit – EQ Mag

May 2, 2023 Anand Gupta

The company says it is looking to supply batteries for a major two-wheeler player for its upcoming electric bikes. Sunlit Power, which manufactures Arenq brand of batteries plans to invest Rs 100 crore over the next two years to set up an automated manufacturing unit in Pune. This the company says will be commissioned by […]

Business & Finance

I Squared, Hinduja eye Fourth Partner – EQ Mag

May 2, 2023 Anand Gupta

New Delhi: I Squared Capital and Hinduja Renewables Energy Pvt. Ltd are the remaining contenders vying to acquire TPG Capital’s majority stake in Hyderabad-based Fourth Partner Energy Pvt. Ltd at an equity value of about $350 million, two people aware of the development said. Bank of America and Investec are managing the sale of TPG […]