China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
Energy
Marubeni divests Aussie power plant stake to South Korean buyer -source
Japan-based trading house Marubeni Corp sold its 30% interest in Australia-based Milmerran Power Station to a buyer in South Korea for under A$200 million ($179 million), according to a source familiar with the deal.
Shell, BP mulling over sale of oil refineries, petrol stations in Australia
Petroleum companies Royal Dutch Shell and BP are reportedly looking to sell its oil refineries and petrol stations in Australia to generate cash for their energy production business segments. Chevron Corp. reportedly may follow suit and exit its service stations in the country.
Enbridge invests $200M in Texas wind power project
Canada-based firm Enbridge Inc has announced an agreement to pour in $200 million in the Keechi Wind Project in Colorado, Texas, which is expected to be completed in early 2015.
Apollo-backed EP Energy to raise $1.08B in New York IPO
Oil and gas company EP Energy Corp., controlled by private equity firm Apollo Global Management, expects to raise $1.08 billion in its initial public offering in New York. EP Energy will sell 40 million Class A common stocks priced at $23-$27 apiece.
Latest News
Canadian Solar Solutions Inc, a unit of Canadian Solar Inc (CSIQ), has concluded the sale of Mississippi Mills solar power plant in Ontario, Canada for over $57.4 million (C$61 million).
The State Grid Corp of China officially completed the $7.5-billion purchase of interests in Australian power firms SP AusNet and Jemena from utilities group Singapore Power.
Norway-based private equity group HitecVision has announced a growth capital investment in well intervention services provider DeepWell AS in a deal that marks HitecVision's entry into the well intervention industry.
Oil & Natural Gas Corp or ONGC said it would be spending about $9 billion in the next ten years to produce oil found in new blocks in the east coast of India.
Bunge North America Inc., a unit of food processing company Bunge Ltd, has put up for sale its remaining stake in Ergon BioFuels LLC for an undisclosed sum. The said stake will be bought by its joint venture partner Ergon Inc.
Canadian Pacific Railway Ltd said it will be exiting a part of its Dakota, Minnesota & Eastern line to Genesee & Wyoming Inc for a price tag of $210 million.
Oleo e Gas Participacoes, controlled by Brazilian investor Eike Batista, promised to repay its $31.2 million debt in two oil fields located south of Rio de Janeiro. Oleo e Gas could lose its 40% stake in the said oil fields if it fails to repay its joint venture partners.
Geo Renewables SA, backed by private equity fund EnerCap Power Fund I LP, said it was granted $55.4 million in debt by Polish lender Bank Ochrony Srodowishka SA. The said fund will be used to finance part of the construction costs of two Polish wind farms.
CEZ Group, a utility conglomerate based in Prague, could ink a $10 billion deal to expand the Temelin nuclear power plant some time in the second quarter of 2015. CEZ is in talks with US' Westinghouse and a consortium that includes Russia's Atomstroyexport, according to a Reuters report.
