Tuesday, 1 September 2026

Waaree Energies will spend approximately USD 37 million to re-equip its module plant in Arizona, United States, lifting annual capacity from 1 GW to 1.6 GW, according to pv magazine. The work will be carried out by wholly owned subsidiary Waaree Solar Americas Inc. (WSA).

The capital goes into replacing the site's existing module production lines with higher-efficiency equipment rather than adding a new building, pv magazine reported.

Once the Arizona upgrade is complete, Waaree Energies said its US module manufacturing capacity will total 4.8 GW, split between 3.2 GW in Texas and 1.6 GW in Arizona, according to pv magazine.

The company's board also approved a consolidation of its Gujarat footprint. Plant and machinery from the 1 GW Tumb facility and the 1.11 GW Nandigram facility will be relocated to the existing manufacturing site at Chikhli, pv magazine reported, moving 2.11 GW of module production equipment onto a single site.

The US build-out sits alongside a much larger domestic base. Waaree said in December 2025 that its total solar module manufacturing capacity in India, including Indosolar, had reached 20.17 GW, according to pv magazine.

Norwegian oil and gas operator DNO ASA said on 1 September 2026 that it had agreed a recommended cash acquisition of Capricorn Energy plc.

The announcement was issued through GlobeNewswire, which carried DNO ASA's statement describing the transaction as a recommended cash acquisition.

DNO ASA describes itself as an operator active in the North Sea, the Middle East and West Africa.

Etu Energias SA has signed a sale and purchase agreement with Chevron Corp. covering the participating interest held by Chevron subsidiary Cabinda Gulf Oil Co. Ltd. in the deepwater Blocks 14 and 14K offshore Cabinda, Angola, according to Oil & Gas Journal. The privately owned buyer is taking on producing assets that Oil & Gas Journal describes as long-established rather than new.

The acreage has delivered more than 900 million barrels of high-quality, Brent-linked crude since first oil in 1999, Oil & Gas Journal reported. Output peaked at about 200,000 bo/d, the publication said.

Current gross production across the two blocks is about 42,000 bo/d, according to Oil & Gas Journal. Block 14 accounts for 95% of that volume and Block 14K for the remaining 5%.

On the reserves side, Oil & Gas Journal put producing reserves at 93 million barrels. Of that total, about 13,000 bo/d of production and 29 million barrels of reserves are attributable to the interests Etu Energias is acquiring.

Operational capability for the assets is being brought in through a separate arrangement. BW Energy Ltd. has signed a framework agreement with Etu Energias and Chariot Ltd. to provide technical and operational support for the blocks, Oil & Gas Journal reported.

The transaction fits a pattern visible across mature offshore acreage: a major transferring a declining but still cash-generating position to a smaller operator, with third-party technical services covering the capability gap. Gross output on Blocks 14 and 14K now stands at roughly a fifth of the peak rate cited by Oil & Gas Journal. Cumulative recovery of more than 900 million barrels against 93 million barrels of remaining producing reserves places the fields well past mid-life.

Block 14K's 5% share of current gross production leaves Block 14 carrying almost the entire volume, a concentration that shapes where any future work programme would matter.

Aker Solutions has a new chief executive. The company's Board of Directors appointed Paal Eikeseth as President & CEO with effect from September 1, according to Offshore Engineer OEDigital.

Eikeseth moves into the role from inside the business. He has headed Aker Solutions' Life Cycle business since 2022, Offshore Engineer OEDigital reported.

He takes over from Kjetel Digre, who decided to step down after six years in the job, according to the same report.

The incoming chief executive referred to the company's 11,700 colleagues around the world.

Independent solar photovoltaic (PV) projects signed less than 3 GW of power purchase agreements (PPAs) in Europe in the first half of 2026, cutting their share of announced deals to around one-third from more than 55% across 2025, according to pv magazine.

The contraction tracks a rise in hours when wholesale power clears below zero. Negative-price hours across five major European markets, including Great Britain, ran around 2% above the record levels of the same period a year earlier, pv magazine reported, citing S&P Global.

Bruno Brunetti, head of renewable revenue streams at S&P Global Energy Horizons, said the drop in contracting for independent solar projects shows negative prices are becoming a structural issue in PPA design rather than just a problem for the merchant market.

Exposure to that price signal remains narrow. Around 10% to 15% of European solar capacity currently carries merchant risk, while more than 61 GW sits under PPAs, according to pv magazine. In Germany, only around 9% of installed solar capacity is directly exposed to the market.

The same volatility pays batteries. Wholesale price spreads available to batteries in Germany hit daily peaks above EUR 650/MWh and averaged nearly EUR 200/MWh in the second quarter of 2026, exceeding levels in Spain and Great Britain, pv magazine reported.

Not every market registered the effect. Italy recorded no negative-price hours, a result of its greater reliance on gas-fired generation.

Comstock Resources has proposed a USD 1.65 billion strategic partnership with Azerbaijan's SOCAR, paired with a USD 450 million drilling venture backed by Jerry Jones, according to World Oil.

The drilling arrangement starts Sept. 1. A Jones family partnership will cover drilling and completion costs for 85% of 18 Western Haynesville wells and 80% of nine Legacy Haynesville wells scheduled over the next 12 months, World Oil reported.

That program supports continued development of Comstock's roughly 545,000 net acres in the Western Haynesville, per World Oil.

Comstock chairman and chief executive M. Jay Allison said the partnership brings in a reputable international strategic partner to help accelerate value creation for investors, while allowing the company to materially reduce debt and fully fund the planned development of its Western Haynesville acreage.