Repsol Ibereólica Renovables Chile announces the commissioning of the Atacama wind farm, with an installed capacity of 165.3 MW, which will generate more than 450 GWh of clean energy and 340,000 additional tons of CO2 emissions reduced annually. The project is part of Repsol’s ambitious decarbonization goals to achieve a net zero emissions energy system by 2050.
Equinor awards major contract to Aibel for Hammerfest LNG modifications for the Snøhvit Future project. This EPCI contract includes the engineering, procurement, construction and installation of two new process modules related to compression and onshore electrification of the Melkøya plant. The goal is to extend the life of the plant until 2050, while reducing CO2 emissions by 850,000 tons per year.
On Tuesday, Enel, Italy’s largest utility, announced an ambitious asset sale plan aimed at reducing its net debt by the end of this year. The company will then focus on six main markets in Europe and the Americas.
Israel is starting to export crude oil for the first time in its history, a further step towards energy independence thanks to its resources in the Mediterranean.
Nexans is announcing a “record” year in 2022, with net profit up sharply by 51% to 248 million euros, thanks to the electrification activities and the remarkable contribution of its “Power Generation & Transmission” segment. The U.S. is a key market for the group, which plans to continue its strategy of championing sustainable electrification globally as part of its 2022-2024 transformation plan called “Winds of change.”
Despite huge fines, Swiss group Glencore sees its net profit soar in 2022. Rising commodity prices and slowing demand could damage the economic outlook for 2023.
Naturgy recorded a 35% increase in net profit, driven by the surge in energy prices on the world markets. This performance, which exceeded analysts’ forecasts, enabled the Spanish giant to reduce its debt and accelerate its investments, particularly in the renewable energy sector. An ambitious strategy for the future of the company that confirms its position as a leader in the energy sector in Spain.
Enedis is about to launch a massive recruitment campaign to respond to the expansion of renewable energies in France. In 2023, the EDF subsidiary plans to hire nearly 2,900 people to connect to the solar, wind and hydro power grids, as well as for the electrification of uses and the connection of charging stations for electric vehicles. This announcement marks a real turning point for Enedis, which plans to recruit 10% more than in 2022, while the employment curve had been trending downward since 2016.
Oil prices record a further decline after the U.S. government’s decision to release millions of additional barrels from its strategic reserve and the possible buildup of U.S. crude inventories. Analysts expect oil prices to continue to fall in the coming days.
The Economic and Social Council argues that about 70 billion euros will have to be invested each year to achieve carbon neutrality in France by 2050. Proposals for financing this strategy are suggested, including a carbon price adjustment and an equity financing requirement for new fossil fuel investments. A multi-year programming of public finances is encouraged in order to meet this financing.
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