{"id":87384,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/16\/google-signs-agreement-to-purchase-nuclear-power\/"},"modified":"2024-10-16T00:00:00","modified_gmt":"2024-10-16T00:00:00","slug":"google-signs-agreement-to-purchase-nuclear-power","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/16\/google-signs-agreement-to-purchase-nuclear-power\/","title":{"rendered":"Google signs agreement to purchase nuclear power"},"content":{"rendered":"

Vulcan\u2019s <\/strong>owner to acquire Czech steel mill:<\/strong> India's Jindal Steel Group<\/a> is acquiring 100% of Czech steel mill Vitkovice Steel<\/a>, according to a statement<\/a>. The acquisition includes a EUR 150 mn investment aimed at modernizing and expanding Vitkovice's production capabilities. <\/p>\n

The two companies have history: <\/strong>The move comes after Jindal and Vitkovice Steel signed a binding MoU last Spring that would see Jindal supply the company with 1 mn ton of low-emission steel gates, an essential input in the production of green steel sheets to be made in Jindal\u2019s subsidiary in Oman Vulcan Green Steel.<\/span><\/p>\n

Jindal is active in the region:<\/strong> India's Jindal Steel Group<\/a> subsidiary Vulcan Green Steel broke ground on Oman\u2019s first green steel plant<\/a> in the Duqm Special Economic Zone last year. The USD 3 bn plant will have a capacity of 5 mn metric tons annually. It also signed an agreement last year with OQ's renewables unit OQ Alternative Energy to establish a 3 TW integrated renewable energy<\/a> generation project.<\/p>\n

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Germany <\/strong>selects first recipients of decarbonization subsidies: <\/strong>The German government has allocated EUR 2.8 bn (c. USD 3 bn) to support 15 industrial companies in their efforts to decarbonize their operations, Reuters<\/a> reports. The companies, including BASF and Suedzucker, will receive 15-year subsidies to reduce carbon emissions in sectors like glass, paper, and chemicals. The subsidies will help keep energy-intensive companies competitive by covering the extra costs of green production and are set to offset some 17 mn metric tonnes of CO2.<\/p>\n

This has been in the works: <\/strong>Germany launched the bidding process<\/a> for subsidies worth EUR 4 bn to help energy-intensive industries transition to green production in March. Despite initial plans for larger subsidies, the program was scaled back due to legal constraints on government spending for climate projects.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n