S'abonner

Ahunan Acquires Shares in OVWPI

Ahunan, a subsidiary of Prime Infra, signs agreement in the renewable energy sector. It acquires a majority stake in OVWPI.

Share:

Ahunan Power, a subsidiary led by Prime Infra, signs a new agreement in renewable energy. The agreement provides for a majority stake in renewable energy developer Olympia Violago Water and Power (OVWPI).

Meeting demand with renewable energy

Prime Infra intends to support its clients in their decarbonization objectives. Its subsidiary, Ahunan, is now a majority shareholder in the developer OVWPI. Guillaume Lucci, CEO of Prime Infra, sees this as an ecological way to meet demand:

“The agreement will integrate Ahunan’s and OVWPI’s capabilities in support of Prime Infra’s energy business objective – to quickly meet demand with clean, renewable energy.”

An opportunity for the company to link the commercial and energy objectives of its customers.

A hydroelectric power plant project

The developer OVWPI, in which Prime Infra is involved, is currently in the pre-development phase of the project. A 500 MW Pumped Storage Hydroelectric (PSH) project in Rizal province, scheduled to begin in 2023.

Pumped storage hydroelectric plants have the particularity of responding to fluctuations in electricity demand. In fact, electricity is produced by moving water between two reservoirs located at different altitudes. This technology allows energy to be stored during off-peak hours.

For Guillaume Lucci, this technology meets the government’s expectations in terms of energy transition:

“Ahunan’s hydroelectric projects are consistent with the government’s commitment to accelerate the development of renewable energy resources and reduce dependence on fossil fuels.”

The agreement increases the energy storage capacity of Prime Infra’s renewable energy portfolio by 6,000 MWh/day.

  • Populaires ​
Europe records record LNG imports since April
Nayara modifies payment terms for naphtha export tender following EU sanctions
Resalta acquires Statkraft’s Croatian platform, strengthening its position in Eastern Europe
PDVSA prepares to resume oil exports as US licensing eases
Valmet to supply biomass boiler and flue gas cleaning system to Saica in Spain
Vallourec sees 64% drop in profit but strengthens operating margin
Despite a sharp decline in sales and prices, Vallourec improved its profitability and issued an upward forecast for its gross operating income in the second half of 2025.
ENI cuts net profit by 18% in the second quarter and bets on dividend strategy
Eni announces a sharp decline in quarterly net profit, the result of lower oil prices and a weaker dollar, while maintaining a strengthened dividend policy and a development trajectory in renewables.
EDF cuts debt and refocuses investments amid declining electricity prices
EDF is reassessing its industrial priorities and streamlining investments, as net profit falls to €5.47bn ($5.94bn) in the first half of 2025 due to a weakening electricity market.
Edison reports solid growth in the first half with €9.4bn in revenue
Energy group Edison posts increased sales and investments despite a less favourable market environment, advancing its renewables development and strengthening its positions in Italy.
SEGULA Technologies accelerates its growth in Africa with a new office in South Africa
SEGULA Technologies opens an office in Cape Town, strengthening its presence in the African market and targeting expansion in energy, rail, and automotive sectors, in partnership with South African industrial firm AllWeld.
GE Vernova raises its forecasts for 2025 after a strong second quarter
GE Vernova's revenue rose by 11% in the second quarter, driven by momentum in its Power activities, as the US group raised its financial targets for 2025.
Allrig strengthens its presence in Saudi Arabia with strategic expansion in Al Khobar
The Allrig group is expanding its operations in Saudi Arabia, supported by AstroLabs, to boost energy efficiency and address the growing needs of the local oil sector.
Saipem and Subsea7 validate their merger to create a global energy services giant
Saipem and Subsea7 formalise their merger agreement, resulting in the creation of Saipem7, an international energy services player with consolidated revenue of €21bn and an order backlog of €43bn.
TotalEnergies posts 29% drop in net profit in the second quarter of 2024
TotalEnergies reports a significant decrease in net profit and revenue for the second quarter, while relying on growth in its hydrocarbon and electricity production to sustain profitability and global ambitions.
Exus Renewables North America secures $308.2 million for solar and wind projects
Exus Renewables North America finalizes $308.2 million financing for two major solar portfolios in New Mexico and wind projects in Pennsylvania, showcasing the expansion of large-scale renewable assets across multiple U.S. markets.
Baker Hughes reports net income of $701 mn and optimizes its portfolio in Q2
Baker Hughes posted attributable net income of $701 mn in the second quarter, while executing several strategic transactions and strengthening its position in industrial technologies and oilfield services markets.
Equinor reports a 13% drop in profit for Q2 2025
Equinor announces a 13% decline in adjusted profit for Q2 2025, driven by falling oil prices, despite rising gas prices and production.
Iberdrola raises $5.9 billion to strengthen its grids in the UK and the US
Iberdrola launches a EUR5 billion (USD5.87 billion) capital increase to fund the expansion and modernization of its power grids in the UK and the US, while announcing a decline in its half-year profit.
Halliburton records a sharp decline in net income and revenue in Q2
Halliburton reports a 50% drop in net income and nearly a 6% reduction in revenue for Q2, with demand in North America remaining particularly weak.
The tech sector urged to accelerate the energy transition amid rising demand
The growth of data centres and artificial intelligence is putting unprecedented pressure on global electricity grids, prompting major tech companies to rethink their energy supply to address capacity and competitiveness challenges.
BP appoints Albert Manifold as chairman following Helge Lund’s departure
BP announces the appointment of Albert Manifold as chairman, succeeding Helge Lund. Manifold, former CEO of CRH, will join the board on September 1, before officially taking over the role on October 1.
Electrica raises €500 million with its first green bond issuance
Romanian company Electrica raised €500 million through the country's first green bond issuance, with participation from the European Investment Bank (EIB), to finance its renewable energy and storage projects.
Kem One and EDF sign agreement for 10-year electricity supply contract
Kem One and EDF signed a protocol agreement for a 10-year electricity supply contract, covering seven French industrial sites. The contract is expected to be finalised by the end of September 2025.
CES Energy renews buyback programme for 18.9 million shares
The Canadian energy solutions provider has received approval from the Toronto Stock Exchange to repurchase up to 10% of its float by July 2026.
Marseille court approves Bourbon’s accelerated financial restructuring
The Marseille Commercial Court has validated Bourbon Group’s accelerated safeguard plans, paving the way for a debt reduction and shareholder transition by the end of 2025.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING