Under the terms of the deal, shareholders of both parties will receive common shares of a newly formed company equal to Reunion Gold’s shareholders being issued 0.285 G Mining Ventures common shares for each Reunion Gold common share.

Besides, shareholders of Reunion Gold will get common shares in a newly formed gold explorer that will own all of Reunion Gold’s assets other than the Oko West gold project in Guyana.

G Mining Ventures will finance the newly formed entity with $15m ($11m).

The shareholders of Reunion Gold will receive an estimated consideration of $0.65 ($0.47) per Reunion Gold common share.

Following the closing of the merger, the existing G Mining Ventures and Reunion Gold shareholders will hold around 57% and 43% of the combined company. It is based on a fully diluted in-the-money before the concurrent $50m equity financing.

The shareholders of the merged entity and Reunion Gold will own 19.9% and 80.1%, respectively, of the outstanding common shares of the newly formed gold explorer.

Reunion Gold CEO, president and director Rick Howes said: “We believe that this Transaction not only delivers our shareholders an attractive upfront premium, but also the ability to participate with significant ongoing ownership in the combined company, having the opportunity to participate in an expected future re-rating as Oko West is advanced towards production.”

The transaction will create an Americas-focused leading intermediate gold producer, said the parties.

Through the acquisition, G Mining Ventures will acquire the Oko West project. The company intends to move the gold project quickly through technical studies to a construction decision.

It will be executed by utilising the considerable amount of exploration, development, and permitting work that has already been completed by Reunion Gold.

Located within the Guiana Shield region, the Oko West project is said to be one of the most significant gold discoveries in the region and has the potential to support a large, long-life mine complex.

G Mining Ventures CEO, president and director Louis-Pierre Gignac said: “Oko West has all the key attributes GMIN is looking for in its next leg of growth.

“We are well-positioned to accelerate value creation at Oko West leveraging our unique expertise in building and operating mines on schedule and on budget in the Guiana Shield, deep knowledge of and network in the region, and over US$480M anticipated near-term free cash flow from Tocantinzinho.”

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The transaction also comprises an additional earn out of $25m.

Established in 1912, Nehring Electrical Works manufactures and markets wire and cable solutions for the utility, telecommunication, electrical distribution, and original equipment manufacturer (OEM) markets.

The company operates through its three business units, namely Nehring Electrical Works Company, Conex Cable and Unified Wire & Cable.

According to Mueller Industries, Nehring Electrical Works is an approved and trusted supplier to various utilities, municipalities, REAs, telecommunications and electrical distribution companies throughout the US.

Nehring Electrical Works reported annual net sales of around $400m for the 12 months ended 31 December 2023.

Mueller Industries CEO Greg Christopher said: “This acquisition provides a substantial platform for long-term growth in the electrical and power infrastructure space and complements the other critical infrastructure sectors we support.

“In addition to its operational culture, which is well aligned with our own, the addition of Nehring leverages our deep expertise in metals, particularly copper and aluminium extrusion, and provides synergies to both companies.”

Based in Tennessee, Mueller Industries produces essential goods for important markets, including air, water, oil and gas distribution, energy transmission, medical, climate comfort, food preservation, aerospace and automotive.

The company is said to be the only vertically integrated manufacturer of copper tubes and fittings, brass rods and forgings in North America. It also has operations in Europe, Asia and the Middle East.

Mueller Industries intends to finance the deal with cash on hand. The company also aims to maintain significant cash reserves following the transaction to support further growth opportunities.

Subject to regulatory approval and customary conditions, the acquisition is anticipated to be completed during Q2 2024.

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Octopus Energy will also use Kraken, its proprietary software platform for managing, controlling, and optimizing distributed energy resources (DERs), to allow its clients to create virtual power plants (VPPs) with Enphase’s solar and battery systems. Octopus, upon integrating with Enphase’s technology, enables support for the dynamic management of customer batteries and helps reduce overall energy usage when the grid is the most constrained. With this integration between the two technologies, Octopus’ customers who install Enphase Energy Systems will be able to benefit from Octopus’ smart tariffs, such as “Intelligent Octopus Flux,” which can save customers money on electricity bills each year.

“This strategic relationship is an exciting step forward in solar technology growth and homeowner empowerment in the United Kingdom,” said Devrim Celal, CEO of Kraken Technologies, part of the Octopus Energy Group. “By integrating Enphase’s systems with Octopus Energy’s forward-thinking approach to energy management, we’re not only driving down costs for consumers but also creating a cheaper, greener grid in real-time.”

Octopus Energy is the largest electricity provider in the United Kingdom, offering customer service and energy products to almost seven million households. The company has operations in 16 countries and its advanced data and machine learning platform, Kraken, supports more than 54 million customers worldwide.

The third-generation Enphase Energy System suite offers a significantly improved experience for homeowners and installers because of more power, resilient wired communication, and an improved commissioning experience. The IQ Battery 5P device is a modular design with 5 kWh capacity; the new IQ8 Microinverters provide peak AC power up to 384 W to support newer high-powered solar modules. Homeowners can also use the Enphase App to monitor performance and intelligently manage their systems. Enphase Energy Systems are fully G100-2 compliant to support the latest UK Electricity Networks Association requirements for grid connection of solar and battery storage. In addition, Enphase offers 24/7 customer support and an industry-leading warranty for both solar and battery products. This includes a 25-year warranty for all IQ8 Microinverters and a 15-year warranty for all IQ Batteries activated in the United Kingdom.

“Our innovative home energy systems paired with Octopus Energy’s intuitive tariffs and intelligent management of DERs can unlock huge potential for the energy grid,” said Marco Krapels, vice president of worldwide business development at Enphase Energy. “Together, we can provide flexible and cost-effective energy usage across more than seven million households in the United Kingdom, and accelerate the broader energy transition. We look forward to continuing to grow our relationships with leading energy providers like Octopus Energy across the world and helping homeowners maximize the value of their solar and battery investments.”

Enphase Energy is also a participant in the Octopus Energy GridBoost battery program in Texas.

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The consultation on RWE’s plans launches Monday 22 April 2024 and will end on Monday 20 May 2024. RWE is asking the community for their views on these plans and has launched a consultation where local people can provide feedback on the planning application see here.

RWE’s plans include a circa 110Mwe electrolysis green hydrogen production facility and a 1.5km pipeline running west to connect to nearby industry. Once operational, the site will be capable of producing two metric tonnes of hydrogen every hour with oxygen as the only significant by-product from the plant.

By displacing fossil fuel consumption in local industrial activities, hydrogen generated at RWE Pembroke Green Hydrogen will reduce local CO2 emissions by approximately 93,000 tonnes every year, the equivalent of removing 18,600 cars from the roads.

The UK Government has set a target to deliver 6 gigawatts (GW) of green hydrogen production capacity by 2030, and has identified South Wales as a suitable location, as it could help to secure a more sustainable future for South Wales’ long-standing industrial heritage.

RWE Pembroke Green Hydrogen is further technology coming forward as part of RWE’s vision for Pembroke Net Zero Centre – a new hub of low-carbon innovation and clean energy generation at their power station site.

RWE has outlined its ambition to be carbon neutral by 2040. As part of this commitment, the company will be looking to decarbonise current operations at the power station, while investing in new innovative technologies at the site, including hydrogen, battery energy storage systems, and floating offshore wind.

RWE’s ambitions for Pembroke Net Zero Centre will build on Pembrokeshire’s local energy heritage, safeguarding existing jobs at the site, while delivering a significant local economic investment and creating new jobs throughout construction and operation.

Commenting on wider vision for Pembroke Net Zero Centre, Richard Little, Pembroke Net Zero Centre Director, said: “Green hydrogen generation is the first of three new technologies coming forward at RWE’s Pembroke Power Station site, forming our vision for Pembroke Net Zero Centre. These technologies will each play a unique role in supporting Wales’ pathway to Net Zero.

“To secure the future of industry in South Wales, and safeguard local jobs, we need to provide clean energy alternatives, locally. Our proposals for Green hydrogen generation will do just that, helping to reduce CO2 emissions in local industrial activities by approximately 93,000 tonnes every year.

“We strongly encourage the community to get involved in the consultation process, to learn more about our proposals for green hydrogen technology, our wider ambitions for Pembroke Net Zero Centre, and to have their say on the proposals.”

Members of the community can contact the project team and leave feedback via the project website, telephone, or via email or by writing to ’Freepost PNZC Consultation’, with no stamp needed.

Furthermore, local residents have the opportunity to schedule a private discussion with the project team to discuss the plans in more detail, and to ask any questions. Please call or email to arrange this meeting.

RWE is the largest power producer in the UK, and a leading renewable generator with a diverse operational generation portfolio of onshore wind, offshore wind, hydro, biomass and gas. RWE is developing ~1GWe hydrogen opportunities across the UK. and  is targeting 2GW of green hydrogen electrolyser capacity in its core markets by 2030.

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Under the terms of the contract, KBR will provide technology licensing and proprietary engineering design for a 250 KTA phenol plant at SABIC’s Fujian Petrochemical Complex. The final investment decision for this project was announced in January 2024 with expected completion in FY 2026. KBR’s phenol technology offers a sustainable and differentiated solution through reduced energy consumption and improved yields.

“We are excited to offer our industry leading phenol technology to SABIC Fujian for this ambitious project in China,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s market-leading phenol technology increases our customers’ competitive advantage and advances their sustainability objectives through superior efficiency, reliability, wastewater recovery and performance.”

KBR is a global technology licensor and has offered its leading phenol technology for more than six decades, completing more than 50 phenol projects worldwide.

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The contract covers Engineering, Procurement and Construction (EPC) of a natural gas liquefaction train with an LNG production capacity of 1 Mtpa. The plant will use electric-driven motors instead of conventional gas turbines and will be powered by renewable electricity from a planned nearby solar farm which will cover 100% of the annual power consumption of the LNG plant. This is positioning the site as one of the lowest greenhouse gases intensity LNG plants ever built worldwide. The LNG produced will notably be used as a marine fuel to reduce the sipping industry’s carbon footprint.

The Marsa LNG project is an integrated complex developed by TotalEnergies (80%) and OQ (20%).

Arnaud Pieton, CEO of Technip Energies, commented, “The world’s net-zero trajectory will require LNG as a critical source of energy, while addressing emissions abatement. TotalEnergies and OQ’s progressive Marsa LNG project is an example of how we can decarbonize the LNG value chain by powering its production with renewable energy and using it as a marine fuel to reduce emissions linked to maritime transportation. By leveraging our innovation and global leadership in LNG infrastructure design and delivery, we are proud to support TotalEnergies and the Sultanate of Oman in providing reliable, affordable and sustainable energy to the world.”

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Upon the completion of the deal, Eversource Energy will continue to be contracted to steer the onshore construction of the Sunrise Wind project under a separate construction management agreement.

In this connection, Eversource Energy will serve as a service provider to Ørsted. The former will not maintain any ongoing ownership stake in the offshore wind project nor will it bear any financial responsibilities associated with its costs.

Ørsted will become the 100% owner of the offshore wind farm. The financial terms of the deal were not disclosed.

Proposed to be built off the coast of New York, at least 48km east of Montauk Point, the Sunrise Wind offshore wind project is expected to power nearly 600,000 homes.

Eversource Energy CEO and president Joe Nolan said: “Sunrise Wind will bring considerable new investment and job opportunities to New York, especially for the local union slated to build the project’s onshore transmission system, while also helping to reduce carbon emissions and advance a clean energy future.

“We look forward to our continued role as a leading transmission expert to help enable the continued development of this important renewable resource for our region.”

Eversource Energy and Ørsted signed the initial agreements for the American offshore wind facility stake in January this year.

It was subject to the Sunrise Wind project’s successful award in the recent offshore wind renewable energy certificates request for proposals (ORECRFP23-1) issued by New York’s energy agency, New York State Energy Research and Development Authority (NYSERDA).

New York State selected the Sunrise Wind offshore wind project in February 2024 to move forward with contract negotiations with NYSERDA.

Subject to certain conditions, including execution of a contract with NYSERDA and customary regulatory approvals, the deal is anticipated to be completed later this year.

Goldman Sachs is serving as Eversource Energy’s financial adviser to assist with the transactions while Ropes & Gray is its legal counsel.

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Listed on the Australian Securities Exchange (ASX), Base Resources is an African focused, mineral sands producer and developer.

Under the terms of the SID, each Base Resources shareholder will receive 0.026 Energy Fuels common shares and A$0.065 ($0.042) in cash as consideration. This represents an implied price of A$0.3 ($0.19) per base share.

Following implementation of the scheme, Energy Fuels and Base Resources shareholders will own nearly 83.6% and 16.4%, respectively of the enlarged company.

The acquisition will include Base Resources’ fully-owned advanced Toliara heavy mineral sands project in Madagascar.

Toliara comprises a long-life, high-value and low cost monazite stream, which is produced as a byproduct of primary titanium and zirconium production.

According to Energy Fuels, Toliara monazite production will be processed at its wholly owned White Mesa Mill into separated REE oxides, at low capital and operating cost.

Base Resources managing director Tim Carstens said: “This transaction reflects the exceptional quality of the Toliara project and the efforts of the Base Resources team over several years to advance the project towards construction readiness.”

As part of the deal, Energy Fuels will access Base Resources’ leadership and heavy mineral sands operations team.

The Base Resources team will continue to oversee the development and operation of Toliara as well as improve Energy Fuels’ heavy mineral sands teams in Australia and Brazil.

Energy Fuels president and CEO Mark Chalmers said: “The acquisition of Base Resources and the Toliara project represents a monumental leap forward for the Company, as we continue to execute on a truly revolutionary REE, uranium and critical mineral combined strategy.

“For the past four-plus years, Energy Fuels has innovated a new way to produce critical minerals, that we believe is more cost competitive than traditional approaches, by leveraging our uranium processing expertise and infrastructure to develop a secure, US-centric REE oxide supply chain.”

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The £1.8bn project has linked the British and Danish transmission systems for the first time. Under the project, a connection has been established between the Bicker Fen substation in Lincolnshire, England to the Revsing substation in southern Jutland, Denmark.

Viking Link is a joint venture (JV) between National Grid and Energinet, a Danish system operator.

The interconnector project is National Grid’s sixth and the ninth for the UK.

According to National Grid, the Viking Link interconnector project is the world’s longest land and subsea interconnector.

The 765km long land and subsea cable is expected to power up to 2.5 million households in the UK. It is also claimed to bring more than £500m of cumulative savings for UK customers over the next decade.

Besides, the Viking Link project is said to offset 600,000 tonnes of carbon emissions in its first year alone.

The HVDC electricity link, which started initial operations in December 2023, has facilitated the transportation of 1,733GWh of power between the UK and Denmark.

National Grid group CEO John Pettigrew said: “In an ever-changing global energy market, the value that connections like Viking Link can provide to national energy security cannot be understated.

“Over its lifespan, this record-breaking connection will deliver over five billion pounds in efficiencies for UK consumers, allow us to trade hundreds of gigawatts in surplus power and provide an indispensable tool in guaranteeing the continued reliability of our energy system.

The Viking Link project commenced construction in 2019, with Prysmian Group responsible for manufacturing and laying the HVDC offshore cable. In July 2023, National Grid completed the cable works on the Viking Link interconnector project.

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According to the terms of the contract, Petrofac will deliver technical services across onshore support bases, a floating production storage and offloading (FPSO), and a platform on behalf of the operator GEPetrol.

The Block B offshore development area, which is spread over 500,000 acres in the Gulf of Guinea, contains the Zafiro oil field. The Zafiro field has been in production since 1996.

GEPetrol director general Teresa Isabel Nnang Avomo said: “We are excited to grow our partnership with Petrofac.

“By unlocking the huge potential of our indigenous national workforce, we will build with Petrofac’s assistance, an organisation for the long-term management and development of our country’s oil and gas assets.”

Awarded for five years, the contract will leverage Petrofac’s asset solutions unit’s core services. It includes operations, integrity management, marine services, maintenance, asset integrity, well engineering, supply chain services and project delivery.

According to Petrofac, the new commitment comes after the company’s initial scope supporting the transition of the asset from Mobil Equatorial Guinea (MEGI).

The company also said that it will oversee the contract from Malabo, with additional support from its technical hub in Aberdeen, UK and by leveraging its duty holder expertise.

Petrofac asset solutions business chief operating officer Nick Shorten said: “This award is an excellent example of our strategy in action: selectively growing our geographic footprint and driving value for our clients through late life asset optimisation.

“Africa is a key focus for our Asset Solutions business and we are pleased to build on our operations in Ivory Coast, Ghana and Senegal and Mauritania with this opportunity in Equatorial Guinea.”

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