Hero Future Energies, a company in India, plans to invest $20 billion over six years in renewable energy.
Rahul Munjal, Chairman of Hero Group's Power Production Unit, said at an industry event Tuesday that the unit will invest $20 billion in six years to increase its production capacity by 16 times. Hero Future Energies is backed by investors like KKR, International Finance Corporation and a number of other global companies. The company aims to reach 30 gigawatts by 2030. Indian companies are increasing their renewable energy capacities.
African LNG to Attract $103Bln in 2019
With greenfield investments in Nigeria, Egypt, Mozambique and elsewhere reaching nearly $103 billion this year, it is clear that liquefaction is viewed as the most profitable strategy for realizing Africa’s gas potential, said Gas Exporting Countries Forum (GECF).Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1 percent of proven global…
World Bank Targets Offshore Wind Markets
The World Bank Group announced a new program to advance the adoption of offshore wind energy in developing countries and emerging markets.The World Bank and International Finance Corporation (IFC) will help these markets evaluate their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers…
Royal Vopak Rraises Stake in Pakistan LNG Terminal
Dutch petroleum storage company Royal Vopak announced that it will acquire in total 44% in Elengy Terminal Pakistan Ltd (ETPL) in separate transactions with International Finance Corporation (IFC) and Engro Corporation Ltd (Engro Corporation). This includes the acquisition of a 29% share announced in July.ETPL's wholly owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL) owns an LNG facility which is located in Port Qasim in Pakistan…
Blue Water Energy Partners with Apex International Energy
Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (MENA) said that it is primarily focused on pursuing acquisitions and drilling opportunities in MENA…
Serbia's First Large-scale Wind Farm to Start in October
Belgian renewable energy firm Elicio NV said on Friday its 42 megawatt (MW) Alibunar wind farm in northern Serbia will start operating in October and help the Balkan country diversify its energy mix and reduce greenhouse gas emissions.The wind farm, which has 21 wind turbines provided by German wind turbine manufacturer Senvion, is the first large-scale farm to connect on Serbia's grid.
Excelerate Energy Commissions Bangladesh’s First LNG Import Terminal
Excelerate Energy Bangladesh completed the commissioning of its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh’s first liquefied natural gas (LNG) import facility – signifying the official commencement of operations for the project.This milestone was achieved approximately 25 months after the execution of project agreements, which took place in July 2016, with the state-owned Bangladesh Oil…
Turkey's Gama in Talks About Selling Energy Stake
Turkish conglomerate Gama Holding is in talks with Malaysia's Tenaga Nasional and other potential buyers about a sale of its 50.5 percent stake in its Gama Enerji energy unit, three sources said, as part of a $1 billion debt restructuring.Gama, which has businesses spanning oil, cement, petrochemicals and natural gas, is the latest Turkish company to attempt to restructure foreign-currency debt amid a sell-off in the lira.
IFC, China-Mexico fund to pump $200 mln into Citla
The International Finance Corporation (IFC), the World Bank's private-sector investment arm, and the private equity firm China-Mexico Fund on Wednesday announced a $200 million investment in Citla Energy, a new Mexican oil company. The IFC said the investment was prompted by the "attractive economic conditions" in Mexico's energy sector, following a sweeping overhaul in 2013 that ended the nearly 80-year-old monopoly of state-owned oil giant Pemex.
Wärtsilä to Supply Extension to Flexicycle Power Station in Senegal
Wärtsilä will supply an extension to a 53 MW Flexicycle power plant currently under construction near Dakar, Senegal. The extension will comprise two Wärtsilä 46 engines running on heavy fuel oil, with a combined capacity of 34 MW. Both phases of the project will be fast-track delivered on a turn-key basis. The contract has been issued by ContourGlobal, an international power generation company with approximately 4000 MW of capacity around the world.
Ukraine seeks $200 mln from IFC for Gas
Ukraine expects to receive $200 million from the International Finance Corporation to help fund natural gas purchases ahead of winter, central bank chief Valeria Hontareva said on Wednesday. "We are waiting for gas purchases for this winter, but the purchases will be funded by loans (taken by state energy firm) Naftogaz from international organisations," the bank's press service quoted Hontareva as saying.
Italian-Thai to Develop Mynama LNG Terminal
Thailand's leading construction firm Italian-Thai Development PCL said on Friday it was in talks with Myanmar authorities to build a $500 million liquefied natural gas (LNG) import terminal at Dawei industrial zone in southern Myanmar. The LNG plan is part of $1.7 billion deal to develop the first phase of the long-delayed Dawei project, which includes a $500 million, 450-megawatt gas-fired power plant…
IFC Plans $2 bln Investment in Egyptian Infrastructure, Power
The World Bank's development arm plans to invest between $1.2 billion and $2 billion in Egypt over the next four years, including around the Suez Canal, its regional director told Reuters. The International Finance Corporation is looking at ports and logistics projects, Mouayed Makhlouf, the IFC's director of Middle East and North Africa, said in an interview. The government is building a second waterway to accelerate trade flows through the canal…
Barclays Investing $1.6 bln in Green Bonds
Current portfolio of green bond investments at 430 mln stg; green bonds raise capital for low-carbon investments. Barclays will invest at least 1 billion pounds ($1.6 billion) by November next year in green bonds from issuers including the World Bank, the British bank said on Monday, more than trebling its investment in the sector. Green bonds are fixed income securities designed…
Lafarge, Wartsila, IFC to Build Power Plant in Nigeria
Lafarge Africa, Finland's Wartsila and the World Bank's IFC have agreed to build a 220 megawatt (MW) gas-fired power plant in Nigeria to boost electricity supplies, they said on Wednesday. The trio said in a statement their plan was to help fast-track increased power supplies to the national grid and that they expected to provide more electricity to about 1.4 million households. They did not disclose the cost of the project.
