VENTURE CAPITAL POST

Following the landslide victory of the Labour Party in the United Kingdom’s general election earlier this month, British Prime Minister Sir Keir Starmer laid out the government’s plans to reinvigorate the country’s economy in this year’s State Opening of Parliament.

EDF, France’s state energy company, has appeared to pull out of the bidding race to build mini-nuclear reactors in the United Kingdom, saying that it was refining its small modular reactor design.

Mexican billionaire Carlos Slim’s company, Grupo Carso SAB, announced that it was investing $1.2 billion to develop a vast gas field in the Gulf of Mexico.

A power blackout affected the whole of Ecuador on June 19, 2024, which left the whole country and its 18 million people without power.

The New Zealand government of PM Christopher Luxzon announced that it would revoke a ban on drilling for oil and gas passed by the previous government of Jacinda Ardern and Chris Hipkins before they were voted out of power.

Vistra Corp., a Texas-based power producer, heads for a massive 14% weekly loss since 2021 as investors retreated from AI-driven electricity demand bets.

Germany said that the European Commission has agreed to compensate power company LEAG with up to$1.90 billion for deciding to move away from coal by 2038.

Canadian oil and energy company Enerplus reported an 18.6% revenue loss for its Q1 2024 report compared to figures at the same period last year.

New data shows that in 2023, renewable energy generated a record-breaking 30% of the world's electricity due to the rapid growth in wind and solar power.

The UK industry regulator's announcement entails a £20 reduction in the energy price cap, offering relief to consumers, yet introduces a temporary charge.

With a 2.1% loss, the shares of Energy companies are underperforming other sectors as of midday of Wednesday. Showing a 5.4% and 5.2% of loss, the Pioneer Natural Resources Co (Symbol: PXD) and ONEOK Inc. (Symbol: OKE), respectively, are among the large stocks which are lagging.

Carlyle Group’s second energy credit investments fund raised a $2.8 billion fund, Carlyle Energy Mezzanine Opportunities Fund II, said spokesman Randall B. Whitestone in an e-mail.

US Stocks movement made a major change in the Energy and FInancial sector.

Turkmenistan-South Asia natural gas pipeline project has secured $200 million of investment from its shareholders. The project, developed by the Asian Development Bank, will now begin important studies to determine the projects detailed costs, routes, and other environmental as well as social factors.

SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.