Energy

Hitachi Energy, a global power grid leader, is expanding its operations in India with new Global Capability Centers in Hyderabad and Pune to meet the country's growing energy demand and support the government's renewable energy goals. This expansion will help India significantly increase its electricity generation capacity and meet the anticipated surge in demand.

Vibrant Energy, a leading renewable energy company, has been involved in discussions regarding a potential sale process with an enterprise value of $500 million, with JP Morgan guiding the sale. Despite having engagements with various entities, Vibrant Energy, a part of Macquarie's Green Investment portfolio, has decided to defer the sale and focus on its ongoing projects in renewable energy solutions for corporate clients in India.

Chinese energy giant Sinopec is pushing to build its first fully-controlled overseas refinery in Sri Lanka, marking a shift in its global strategy to compensate for slowing demand growth at home. This move puts Sinopec in direct competition with India, which is also seeking to expand its role as an energy supplier to the island nation.

Bulgaria has taken a significant step towards strengthening its ties with its diaspora by establishing the Council for Coordination of Policies for Bulgarians Abroad. This permanent advisory body, reporting to the Council of Ministers, will serve as a central hub for coordinating government efforts to support and empower Bulgarian communities and individuals residing outside the country.

Bulgaria has pledged to support Ukraine in rebuilding its energy infrastructure, a move that underscores the deepening energy cooperation between the two countries. This commitment includes exploring the sale of equipment from the Belene nuclear power plant project to Ukraine, in line with a decision by the Bulgarian National Assembly.