Author: omc_admin
Strategic Alliance: AIIB and NIB will jointly identify and finance sustainable infrastructure projects to accelerate low-carbon development. Global Reach: The MoU broadens NIB’s engagement beyond the Nordic region, aligning with AIIB’s global sustainability mandate. Operational Synergy: The partnership includes collaboration on corporate governance, IT, legal, HR, and joint research in clean tech and climate change. The Asian Infrastructure Investment Bank (AIIB) and the Nordic Investment Bank (NIB) have formalized a strategic partnership to scale up investment in sustainable infrastructure and green development. Signed by AIIB President Jin Liqun and NIB President and CEO André Küüsvek, the memorandum of understanding (MoU)…
Decarbonization-focused investment firm Aligned Climate Capital announced today that it has raised over $200 million in commitments at the final close of its sixth distributed solar fund, Aligned Solar Partners 6 LP (ASP6). The firm said that the fund exceeded its fundraising target, and was oversubscribed at more than $240 million. ASP6 is Aligned Climate Capital’s largest infrastructure fund to date. The fund acquires construction-ready distributed solar projects from development partners across the U.S., finances their build-out, and delivers returns through tax credit monetization, operating income distributions, and portfolio sales to institutional infrastructure investors. The firm’s investment strategy focuses on…
The momentum sparked by the U.S.-China tariff reduction agreement fueled gains across the energy sector, with major oil companies posting significant advances. Marathon Petroleum led the pack, surging 5.73%, followed closely by ConocoPhillips at 5.63%. Chevron saw a solid 3.09% increase, while BP gained 2.32%. European majors also joined the rally, with Equinor up 1.52%, Shell rising 1.16%, and TotalEnergies edging higher by 0.85%.The tariff truce, which reins in elevated duties for 90 days, has bolstered market confidence in stronger oil demand, driving share prices of energy firms. Equity markets mirrored the upbeat sentiment, with Dow futures jumping in early…
Germany’s Federal Ministry for Economic Affairs has approved €920 million in subsidies for Infineon’s Dresden site. The expansion of the chip plant will enable the company to meet rising customer demand, particularly in the field of electric mobility. With its so-called Smart Power Fab, Infineon is expanding its existing facility in Dresden by adding ‘Factory Module 4’, creating up to 1,000 new jobs in the process. The site will focus on producing 300-millimetre wafers using a flexible manufacturing line – the first of its kind worldwide capable of processing different technologies on the same equipment without the need for time-consuming…
Swedish electric-vehicle maker Polestar reported a 31% reduction in its quarterly loss on Monday, in a sign that the company’s efforts to cut costs across its business and push sales of its higher-priced models were bearing fruit. U.S.-listed shares of Polestar climbed nearly 4% in premarket trading. Polestar had been grappling with ballooning losses over the past several quarters amid a broad slowdown in EV demand, prompting the company to launch cost-cutting initiatives including job cuts, lowering manufacturing costs and tightening marketing spend. The company, backed by China’s Geely Holding (GEELY.UL), would also benefit from the…
New York Governor Kathy Hochul signed the state’s 2025-2026 budget on Friday, which included more than $1 billion in climate change-focused investments, including funding to lower emissions from buildings and accelerate the rollout of electrified transportation. The budget, notably, did not include a “cap-and-invest” program to charge large greenhouse gas (GHG) emitters, with proceeds to be invested in climate initiatives. Unveiled by Hochul in 2023, the cap-and-invest initiative would require large greenhouse gas emitters and fuel distributors in New York to pay more than $1 billion per year to purchase allowances for the emissions associated with their activities, based on…
The UK Government has confirmed a £1 billion investment to build a new AESC gigafactory in Sunderland. It is expected to support 1,000 jobs and produce batteries for up to 100,000 electric vehicles annually, multiplying Britain’s current EV battery cell output sixfold. The UK is set to significantly expand its EV battery production capacity with the new gigafactory by AESC in Sunderland. The £1 billion (€1.16 billion) investment, backed by public and private financing, is expected to support up to 1,000 skilled jobs while powering 100,000 EVs per year. That figure represents a sixfold increase over the country’s current EV…
State firm Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year agreement with Hoegh Evi to have it deploy a floating LNG import unit near Alexandria on the Mediterranean, as the North African country struggles to meet soaring gas and power demand amid dwindling domestic production.Hoegh Evi will deploy the LNG carrier, the Hoegh Gandria, at Sumed near Alexandria in late 2026, the company told Bloomberg in a statement on Monday. The conversion of Hoegh Gandria into a floating storage and regasification unit (FSRU) will begin immediately.Egypt turned from a net LNG exporter to a net LNG importer at…
APA Corp. said it is lowering its 2025 spending plan by $175 million to protect cash flow amid uncertainty in commodity prices. “Improved efficiencies and reduced activity will lower the company’s 2025 development capital by $150 million”, the Houston, Texas-based explorer and producer said in its quarterly report. “Combined with a $25 million reduction in exploration capital, these steps will protect free cash flow amidst volatile commodity prices. “As the company integrated the Callon acquisition, activity was reduced to 8 rigs, a level capable of maintaining oil volumes in the Permian”. APA completed its merger with Callon Petroleum Co. in…
Making permanent the UK’s windfall tax on oil and gas producers would generate enough cash to enable North Sea workers to move to green jobs, research has found.Cutting current subsidies to fossil fuel producers would free up yet more funds to spend on the shift to a low-carbon economy, according to the report.About £1.9bn a year will be needed to provide for oil and gas workers to be retrained and to create new infrastructure and green jobs in a “just transition” away from fossil fuels, according to the campaign group Oil Change International.Of this, about £1.1bn would be needed to…