Italian energy company Enel has announced it will invest $1bn through its 3Sun subsidiary to build a solar photovoltaic (PV) panel manufacturing facility in the Inola, in the US state of Oklahoma, according to a statement on May 22.

Construction is planned to begin this year, with the first panels hitting the market by 2024. The factory is slated to reach three gigawatts (GW) of annual capacity by 2025, before potentially being expanded to 6GW. It is expected to create more than 1800 construction jobs. The announcement follows similar plans by Enel to scale up production at a solar PV panel facility in its home market, in Sicily.

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Giovanni Bertolino, head of 3Sun USA, said in the statement that the investment will bring “hundreds of jobs and millions in long-term tax revenue, while moving Oklahoma to the forefront of renewables manufacturing”.

Yangshan ranked best port in 2022

The Chinese Yangshan Port in Hangzhou Bay has been ranked the best container port in 2022, according to the third edition of the Container Port Performance Index (CPPI), as the recent container shipping challenges have continued to abate.

The Port of Salalah in Oman came in second, followed by Abu Dhabi’s Khalifa Port. A total 348 ports were included in the CPPI 2022; three of the top ten ports are big Chinese gateways and three are in the Middle East. 

Using data from S&P Global’s Port Performance Programme, the ranking seeks to determine the best container port performance making use of expert opinion and statistics. 

Michelin invests in Kansas

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French multinational tyre manufacturer Michelin will invest $100m over the next five years in its operations in the US state of Kansas, according to a company statement on May 22.

It will increase production capacity of tracks for agricultural equipment at its facility in Junction City. Part of its global growth strategy, the company says that the investment is a response to US market demand from both aftermarket and original equipment customers. Michelin plans to make all of its tyres out of sustainable materials by 2050.

“This investment in agricultural tracks capacity is further evidence of our commitment to bring Michelin’s all-sustainable strategy to life in North America,” said Alexis Garcin, president and CEO of Michelin North America, in the statement.

And finally: The UK’s development finance institution British International Investment has committed $15m to a Southeast Asia-focused energy transition infrastructure fund, it said on May 22.