British billionaire and Whyalla steelworks owner Sanjeev Gupta has sold a key investment less than three years after purchasing it amid a push to cut costs within his international business.He planned to use it for power projects to fund his Whyalla steelworks'Mr Gupta's company GFG Alliancein late 2017, as part of a plan to invest in large-scale power projects to meet its own energy needs.
Project development businesses, such as the Cultana Solar Farm near the Whyalla steelworks, will be owned by SIMEC Energy Australia.GFG Alliance confirmed the sale in a statement but declined to say how much money the stake was sold for. "Ross's deep understanding of the evolving renewable energy space was pivotal in the development of our $1 billion renewable energy program. I wish Ross and the entire ZEN Energy team all the best for the next stage of their business journey," Mr Gupta said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business calls for 'sustainable' post-COVID-19 investmentMajor corporations and big banks are among the heavyweights urging the federal government to invest in health, education, clean energy and urban infrastructure to help the economy recover from the pandemic. .ScottMorrisonMP clean energy please. Clean energy is the only way forward But God says no.
Source: theage - 🏆 8. / 77 Read more »
Banking, energy sectors lead ASX gains | Sky News AustraliaThe ASX 200 has opened strong with the banking sector leading the gains, followed by energy.\n\nSince open the market has continued to rise and is currently up by 0.5 per cent, despite SPI futures predicting it would open lower.\n\nOn Monday the banking sector gained close to three per cent, and it's nearing one per cent on Tuesday.\n\nThe ABS will release payroll data at 11:30 AEST.\n who should I contact or where specifically should I contact to discuss an important story that I am a part of which will be of much interest to your audience? Thank you, Jared.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Government advised to underwrite new investment in gas pipelinesNew gas pipelines would gain taxpayer support to increase energy supplies to industry and households under plans put to Prime Minister Scott Morrison from his top business advisers. CroweDM Gee, executives from gas companies advise the government to give them money. Who would'a thunk it! CroweDM Wow, it's almost like when you hire rich gas executives to write policy, they will advise that the Government further enriches them by propping up the gas industry CroweDM LOL. Vested interests telling the government to spend taxpayer money on their businesses.
Source: smh - 🏆 6. / 80 Read more »