Trust acquired Romanian wind farm

02/01/2018 13:35 Wind


Transeastern Power Trust has finalized the purchase of the 45MW OMV wind farm in Romania.

OMV Petrom, former owner of the project, sold all the shareholder’s loans and shares in OMV Petrom Wind Power to the Trust. Trust energy firm employed $23 million in short term funding and €2.8 million from the wind farm seller to accomplish the transaction.

The amount of money will be repaid out of the profits of a $40 million private placement expected to close in the first week of January.

Trust chief executive J Colter Eadie revealed that the organization is switching from a renewable energy business to a vertically integrated cryptocurrency mining activity.

He also added: “We are well positioned to power our mining operations primarily through clean energy generated at our own operations at nominal cost augmented by revenue from green certificates earned through the generation of renewable energy.” 

Exxon Mobil considers sale of Malaysian offshore assets for up to $3 bln

09/10/2019 14:54:00

U.S. energy giant Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets for up to $3 billion, Bloomberg reported on Wednesday.


Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.