Connection

popular articles

BYD: Half-year profit up 24.4% despite price war
Bolivia: YPFB seeks funding to revitalize the oil and gas sector
ExxonMobil launches Hammerhead Oil Project in Guyana
India: Petronet LNG adopts Novolen technology to boost production
Engie and Macquarie join forces to extend Mexico’s Mayakan gas pipeline

United States: Nova Clean Energy acquires HyFuels

Nova Clean Energy announces the acquisition of HyFuels, expanding its renewable energy portfolio in Texas, a key center for U.S. ammonia.
Nova Clean Energy acquisition HyFuels

Please share:

Nova Clean Energy, based in Chicago and Austin, has acquired HyFuels, a renewable energy developer with over 1 gigawatt of wind and solar projects in advanced development, as well as agreen ammonia project on the Texas Gulf Coast. This region, a vital center for the petrochemical industry, is experiencing a growing demand for energy.

Agreement details

Nova purchased HyFuels from BNB Renewable Energy, an experienced developer with nearly two decades in the renewable energy sector in the United States and Mexico. HyFuels’ projects, spread over some 25,000 acres, will benefit from a balance of wind and solar generation.

Projections and impacts

The first phase of the HyFuels project is scheduled for full procedural notification (NTP) in 2025 and commercial commissioning in 2026. This initiative aligns Nova with growth trends for enhanced transmission and increased end-customer demand in sectors such as mobility, green fuels, and artificial intelligence.

Strategic partnerships and local support

Nova has also signed a long-term development services agreement with BNB, which initiated the development of HyFuels in late 2020. This partnership is designed to ensure the successful delivery of the project. Jos Nicholas, CEO of BNB, expressed his enthusiasm for the project and thanked local stakeholders for their continued support.

Community involvement and future development

Nova and BNB plan to work closely with communities in Calhoun and Victoria counties to develop these renewable resources. This partnership hopes to bring low-cost electricity and green ammonia to this productive region, thereby contributing to the national economy.

Nova Clean Energy’s acquisition of HyFuels marks a significant expansion of its renewable portfolio, reinforcing the company’s commitment to sustainable energy transition and supporting regional energy independence.

Register free of charge for uninterrupted access.

Publicite

Latest news

North Macedonia: A Strategic Partnership with SOCAR for Energy Security
Strategic Partnership Between SEFE and Eletrobras for Green Hydrogen Supply
Increase in Premiums for 2025 LNG Contracts Following Trump’s Victory
Six new countries commit to tripling global nuclear production by 2050
Towards Methane Regulation Convergence: U.S. and European Union Collaborate

Recently published in

Nexans sets ambitious financial goals driven by electrification

Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
Masdar and KESH join forces to transform Albania’s energy strategy
Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.
en_1140417540
Masdar and KESH join forces to transform Albania’s energy strategy
Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.
en_1140417540
Orlen invests $850 million to modernize Poland’s energy network
Polish energy giant Orlen partners with the European Investment Bank to modernize its energy distribution network, aiming to integrate renewable solutions and strengthen operational efficiency.
en_1140386540
Orlen invests $850 million to modernize Poland’s energy network
Polish energy giant Orlen partners with the European Investment Bank to modernize its energy distribution network, aiming to integrate renewable solutions and strengthen operational efficiency.
en_1140386540
The EIP fund increases its share to 10% in Plenitude, Eni’s green division
The Energy Infrastructure Partners (EIP) fund strengthens its investment in Plenitude, Eni's renewable energy subsidiary, valued at over 10 billion euros, to support its strategic growth.
en_1140365540
The EIP fund increases its share to 10% in Plenitude, Eni’s green division
The Energy Infrastructure Partners (EIP) fund strengthens its investment in Plenitude, Eni's renewable energy subsidiary, valued at over 10 billion euros, to support its strategic growth.
en_1140365540

Halliburton faces profit drop in North America in the third quarter

In the third quarter, Halliburton reports a 20% drop in net profit, mainly impacted by a cyberattack and slowing demand in North America, its key market.
Results Down for Energias de Portugal Despite the “Renewables” Bet
Energias de Portugal (EDP) posts a 37% drop in profits for the third quarter of 2024. The Portuguese group nevertheless continues its investments in renewable energies to support its energy transition.
en_1140374540
Results Down for Energias de Portugal Despite the “Renewables” Bet
Energias de Portugal (EDP) posts a 37% drop in profits for the third quarter of 2024. The Portuguese group nevertheless continues its investments in renewable energies to support its energy transition.
en_1140374540
Enel reports a profit of 5.9 billion euros despite falling energy prices
The Italian energy giant Enel announces a 38% increase in net profit over nine months, reaching 5.9 billion euros, despite a context of falling electricity prices.
en_1140341540
Enel reports a profit of 5.9 billion euros despite falling energy prices
The Italian energy giant Enel announces a 38% increase in net profit over nine months, reaching 5.9 billion euros, despite a context of falling electricity prices.
en_1140341540
Nexans creates Lynxeo, a dedicated entity for its industrial cables
Cable manufacturer Nexans announces the creation of Lynxeo, a distinct entity for its industrial cable business, aiming for greater clarity and market visibility.
en_1140360540
Nexans creates Lynxeo, a dedicated entity for its industrial cables
Cable manufacturer Nexans announces the creation of Lynxeo, a distinct entity for its industrial cable business, aiming for greater clarity and market visibility.
en_1140360540

The world’s largest battery manufacturers unite for a sustainable supply chain

The Global Battery Alliance reveals the results of a collaborative project involving the world’s largest battery manufacturers to harmonize transparency and sustainability in the battery supply chain.
Engie targets the top of its 2024 forecasts after strong quarterly performance
Engie targets the top of its 2024 forecasts after strong quarterly performance
en_1140349540
Engie targets the top of its 2024 forecasts after strong quarterly performance
Engie targets the top of its 2024 forecasts after strong quarterly performance
en_1140349540
Akastor strengthens its stake in AKOFS Offshore by acquiring Mitsui’s shares
Akastor ASA acquires Mitsui's shares in AKOFS Offshore for USD 22.5 million, increasing its stake to 75% and consolidating its position in the subsea intervention sector.
en_1140303540
Akastor strengthens its stake in AKOFS Offshore by acquiring Mitsui’s shares
Akastor ASA acquires Mitsui's shares in AKOFS Offshore for USD 22.5 million, increasing its stake to 75% and consolidating its position in the subsea intervention sector.
en_1140303540
Uniper repays 530 million euros to the German state, marking the start of public disinvestment
Struggling in 2022, German energy company Uniper initiates a 530 million euro repayment to the German state. This payment represents a significant step toward reducing public influence within the company.
en_1140259540
Uniper repays 530 million euros to the German state, marking the start of public disinvestment
Struggling in 2022, German energy company Uniper initiates a 530 million euro repayment to the German state. This payment represents a significant step toward reducing public influence within the company.
en_1140259540

Refining Margins Decline: ExxonMobil and Chevron Focus on Shareholders

ExxonMobil and Chevron’s quarterly results reveal pressure on refining margins, partially offset by increased volumes and significant shareholder support.
ADNOC integrates autonomous AI to optimize energy operations
ADNOC, the national oil company of the United Arab Emirates, deploys autonomous artificial intelligence to optimize operations, reduce costs, and enhance energy efficiency.
en_1140237540
ADNOC integrates autonomous AI to optimize energy operations
ADNOC, the national oil company of the United Arab Emirates, deploys autonomous artificial intelligence to optimize operations, reduce costs, and enhance energy efficiency.
en_1140237540
TotalEnergies: Global Oil Demand to Peak Post-2030, Diverging from BP’s Forecast
TotalEnergies projects a peak in global oil demand after 2030, influenced by population growth and infrastructure shortfalls, contrasting with BP's earlier forecast.
en_1140240540
TotalEnergies: Global Oil Demand to Peak Post-2030, Diverging from BP’s Forecast
TotalEnergies projects a peak in global oil demand after 2030, influenced by population growth and infrastructure shortfalls, contrasting with BP's earlier forecast.
en_1140240540
Dangote blames weak control on low-quality fuel imports undermining refinery sales
Dangote denounces the import of low-quality fuel undermining the growth of his refinery in Nigeria. The lack of control infrastructure hampers the enforcement of the country’s new fuel standards.
en_1140249540
Dangote blames weak control on low-quality fuel imports undermining refinery sales
Dangote denounces the import of low-quality fuel undermining the growth of his refinery in Nigeria. The lack of control infrastructure hampers the enforcement of the country’s new fuel standards.
en_1140249540

Schneider Electric: departure of CEO Peter Herweck after strategic disagreements

Schneider Electric announced the sudden departure of its CEO Peter Herweck, who had been in office since May 2023, due to disagreements over the company’s strategy. Olivier Blum takes over immediately.
Schneider Electric, Rexel, Sonepar and Legrand fined 470 million euros for anticompetitive collusion
The French Competition Authority has imposed fines totaling 470 million euros on Schneider Electric, Rexel, Sonepar, and Legrand for collusion in the low-voltage electrical equipment sector. These sanctions represent a strong response against market manipulation.
en_1140207540
Schneider Electric, Rexel, Sonepar and Legrand fined 470 million euros for anticompetitive collusion
The French Competition Authority has imposed fines totaling 470 million euros on Schneider Electric, Rexel, Sonepar, and Legrand for collusion in the low-voltage electrical equipment sector. These sanctions represent a strong response against market manipulation.
en_1140207540
Volvo Cars to Buy Northvolt’s Stake in Their Novo Energy Joint Venture
Faced with Northvolt’s financial difficulties, Volvo Cars is buying out its partner’s stake in the Novo Energy joint venture, initially created to produce batteries for electric vehicles. Volvo is now seeking a new partner.
en_1140208540
Volvo Cars to Buy Northvolt’s Stake in Their Novo Energy Joint Venture
Faced with Northvolt’s financial difficulties, Volvo Cars is buying out its partner’s stake in the Novo Energy joint venture, initially created to produce batteries for electric vehicles. Volvo is now seeking a new partner.
en_1140208540
Nexans confirms its forecasts and announces new strategy for November
Nexans, the French specialist in industrial cables, confirms its financial outlook for 2024, with a strategic announcement scheduled for November 13 to outline its future and priorities in the energy sector.
en_1140209540
Nexans confirms its forecasts and announces new strategy for November
Nexans, the French specialist in industrial cables, confirms its financial outlook for 2024, with a strategic announcement scheduled for November 13 to outline its future and priorities in the energy sector.
en_1140209540

JERA records a 52% drop in its semi-annual profit

Japanese electricity giant JERA reports a 52% decrease in its net semi-annual profit, marked by delayed adjustments in fuel prices and losses in the U.S. market. Analysis of the challenges and strategies to stabilize its performance.
Dow: profits drop in third quarter despite modest sales increase
Hit by equipment failure and challenging economic conditions, U.S.-based Dow reports a decline in net profits for the third quarter, while revenues show slight growth.
en_1140149540
Dow: profits drop in third quarter despite modest sales increase
Hit by equipment failure and challenging economic conditions, U.S.-based Dow reports a decline in net profits for the third quarter, while revenues show slight growth.
en_1140149540
Eni’s Profit Drops 73%: The Group Weakened by Falling Oil Prices
Eni's Profit Drops 73%: The Group Weakened by Falling Oil Prices
en_1140139540
Eni’s Profit Drops 73%: The Group Weakened by Falling Oil Prices
Eni's Profit Drops 73%: The Group Weakened by Falling Oil Prices
en_1140139540
Equinor adjusts its investment strategy after delays in offshore wind
Equinor announces a decline in its quarterly profits and adjusts its investment strategy in renewable energy, impacted by delays in the Dogger Bank project.
en_1140122540
Equinor adjusts its investment strategy after delays in offshore wind
Equinor announces a decline in its quarterly profits and adjusts its investment strategy in renewable energy, impacted by delays in the Dogger Bank project.
en_1140122540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS