Tata Power [TPWR:IN], the largest power generation firm in India, is in advanced talks with investors to raise between USD600m and USD700m for its renewable energy business at an equity valuation of around USD6bn to USD7bn, as reported by Economic Times on February 8. Potential...
Chinese offshore turbine maker Mingyang Smart Energy (MYSE) [601615:CH] has reached an agreement to provide three three-megawatt turbines for a wind power facility off the coast of Nyuzen, a town in central Japan, as reported by Nikkei Asia on February 4. The transaction makes MYSE...
Lotte Chemical [011170:KS], a South Korean chemical company, announced a USD501.5m investment plan to build plants for producing eco-friendly materials at its petrochemical complex in Daesan, as reported by Korean Economic Daily on February 7. The chemical company has reached an agreement with the Daesan...
India will raise the area under exploration and production for oil and gas to 500,000 square kilometers (sq km) by 2025 and hit 1m sq km by 2030, as reported by Economic Times on February 4. Over the past five years, the country has doubled...
Japan’s Mitsubishi [8058:JP] and Mitsui [8031:JP] will team up for a carbon capture and storage (CCS) project located in the seabed of Western Australia, as reported by Nikkei Asia on February 4. The selected sea area has the highest concentration of offshore gas fields in...
The Korea Fair Trade Commission (KFTC), South Korea's antitrust regulator, will impose a KRW20.2bn (USD16.9m) fine on Mercedes-Benz [DAI:GR] and its local subsidiaries for fabricating gas emission data of diesel passenger vehicles, as reported by Reuters on February 7. To manipulate emission data during certification...
The Shanghai Stock Exchange has announced on January 20 that it will ask the Science and Technology Innovation Board (STAR) market companies to disclose ESG information in annual reports beginning in 2022. As China has pledged to hit peak carbon emission before 2030 and achieve...
Singapore is evaluating its carbon tax level and will announce the revised rate for 2024 in its 2022 Budget on February 18, as reported by Straits Times on January 25. Singapore has set the carbon tax rate from 2019 to 2023 at SGD5 (USD3.71) per...
The Securities and Exchange Board of India (SEBI) put forward stricter environmental, social, and governance (ESG) rules on January 24, as reported by Bloomberg on the same day. The capital market watchdog intends to reduce the risk of greenwashing and misuse of ratings by companies....
IDG Capital [IDGCAZ:CH] and Hong Kong-based public energy utility Towngas [0003:HK] announced the establishment of the Zero-Carbon Technology Investment Fund on January 24, as reported by Pandaily on the same day. With an expected total scale of RMB10bn (USD1.6bn), the fund would raise RMB5bn in...
China’s top anti-graft watchdog, Central Commission for Discipline Inspection (CCDI), vowed to investigate and punish corrupt behaviors behind the disorderly expansion of capital and platform monopolies and cut the link between power and capital, as reported by Reuters on January 22. The commission also outlined...
South Korea's LG Energy Solution (LGES) and US automotive manufacturer General Motors [GM:US] will invest USD2.1bn to build their third joint battery plant in the US, as reported by Reuters on January 25. The two firms intend to invest equally in the new battery plant....
China’s State Council on January 24 published a new work plan for energy conservation and emission reduction as a part of the country’s 14th Five-Year Plan (FYP), as reported by SCMP on January 25. The work plan reiterated that China’s energy consumption per unit of...
Japan steelmaker Nippon Steel [5401:JP] announced on January 21 that it will buy two electric arc furnace steelmakers in Thailand, G Steel [GSTEEL:TB] and GJ Steel [GJS:TB], for a total of USD763m, as reported by Nikkei Asia on the same day. The Japanese company seeks...
China’s Ministry of Transport (MoT) has summoned four freight-delivery platforms over operational irregularities and sent reminders to four ride-hailing firms over driver protection, fair competition, and transportation safety, as reported by Reuters on January 21. The MoT has discussed drivers’ complaints regarding arbitrary pricing rules,...
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