Energy

  Bloomberg Swedish battery startup Northvolt AB and energy firm Galp Energia SGPS SA plan to develop a lithium-conversion plant in Portugal to supply the region’s growing electric-vehicle industry. The companies said they’ll set up a joint venture with the goal to build a facility with an annual production capacity of 35,000 metric tons of lithium hydroxide — enough to ...

  Bloomberg Brookfield Asset Management is in talks for a deal to acquire a stake in Australian energy metering business Intellihub Group, according to people familiar with the matter. The private equity firm is the likely winner of an auction to buy an interest in the residential energy metering firm from its existing Australian backers Pacific Equity Partners, the people ...

  Bloomberg Chinese companies spent 10 years aggressively maneuvering to become the dominant players in solar power. Now they’re seeking to lead the way in developing the next big thing in clean energy: hydrogen. Top solar manufacturers including Longi Green Energy Technology Co are ramping up the production of electrolyzers, the equipment needed to make green hydrogen, the cleanest form ...

  Bloomberg The UK’s energy regulator is inviting bids to build more high-voltage cables to connect the country’s electricity grid to the European continent. Ofgem is launching a new round of investment bids to build the sub-sea cables, according to a statement. The regulator says the plans will help boost national energy security and electrification plans which could help the ...

Bloomberg One of the few funds to predict Beijing’s clampdown on education companies is doubling down on its bets on China’s solar companies. Ken Xu, Hong Kong-based chief investment officer at Strategic Vision Investment Ltd, withdrew from tutoring stocks in March after noting that state-backed media outlets and policy makers were echoing angst among parents about the societal impact of ...

Bloomberg European Union (EU) legislators are looking to tighten the region’s planned green bond standards and make it harder for issuers of environmentally-friendly debt to overstate their promises to investors. Sellers of European green bonds and sustainability-linked bonds should develop a transition plan indicating how they will adhere to a 1.5°C global warming scenario and reach climate neutrality by 2050, ...

Bloomberg Italy’s Finance Ministry said that it plans to spend about 2.8 billion euros ($3.2 billion) from the 2022 budget to help shield consumers from surging energy prices. The support will target the first quarter of the year, and will include 800 million euros of savings from a tax overhaul and unspent cash from previous months, according to people familiar ...

Bloomberg Activist hedge fund Bluebell Capital Partners has asked Glencore Plc to separate its thermal coal business because it has become a barrier to investment. The hedge fund firm said that the commodities giant could realise more value for shareholders if it separates that business, simplifies its asset base, disposes of non-core asset Viterra, and tackles governance issues. Bluebell’s partners ...

Bloomberg Enel SpA plans to invest 170 billion euros ($191 billion) this decade to accelerate its shift to greener energy sources. The strategy indicates a 6% increase from the previous investment plan, documents published showed. It also brought forward its net zero commitment by 10 years, from 2050 to 2040. Enel is the latest energy company in Europe to reveal ...

Bloomberg South Africa’s Mineral Resources and Energy Minister Gwede Mantashe said Eskom Holdings SOC Ltd is delaying emergency power projects that would have started generating 1,996 megawatts of electricity by next August, City Press reported. The state-owned utility hasn’t approved 11 generation projects that are intended to provide power supplies when the national grid is vulnerable, the newspaper reported, citing ...