Bloomberg Spain’s Iberdrola SA has selected a site for its first project in the Asia-Pacific region, as Europe’s biggest renewable generator looks to expand beyond its core markets. The Bilbao-based company seeks to start a 320-megawatt hybrid wind and solar plant in South Australia in 2021, kicking off planned investments of about $340 million in the country’s renewables sector, it ...
Read More »Energy
Pakistan gas giant to start zinc exports amid shift from fuel
Bloomberg Pakistan Petroleum Ltd (PPL) is looking to begin zinc and lead exports from next year as the nation’s largest gas explorer moves away from the fuel after a decade of zero growth in domestic production. The oil and gas explorer aims to boost revenue from its mining business to $100 million annually within three years, CEO Moin Raza Khan said. ...
Read More »US’s SunPower quits manufacturing
Bloomberg SunPower Corp, one of America’s largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems. The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement. As part of the ...
Read More »Angola may seek power from Congo
Bloomberg Angola may buy as much as 5,000 megawatts from neighbouring Democratic Republic of Congo’s proposed $14 billion hydropower plant. In its current design, the Inga III dam would be the biggest hydropower plant in Africa, generating 11,050 megawatts. The two partners developing the project — one Chinese, one Spanish — submitted a joint proposal to the Congolese government last ...
Read More »Kenya needs $15b for ‘power access’
Bloomberg East Africa’s largest economy needs between $15 billion and $18 billion to achieve all-round electricity access by 2022, according to Power For All, a global coalition of 200 private and public organisations campaigning for universal reach. “With almost $15 billion in investment into a suite of projects — geothermal, off-grid, energy efficiency, transmission — Kenya could achieve universal access ...
Read More »Germany seeks to boost hydrogen in energy mix
Bloomberg Germany is seeking to boost momentum behind using hydrogen as an alternative to natural gas, part of a broader effort to quicken the pace of emissions cuts. The government is preparing an incentive program for early December that will help develop a local market for the technology, according to Stefan Rolle, an adviser in Germany’s Economy & Energy Ministry. ...
Read More »Aramco’s record IPO starts on Nov 17
Bloomberg Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from November 17. The Saudi stock exchange rules prohibits the oil giant from listing additional shares for six months after the start of trading, according to its more than 650-page prospectus. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares ...
Read More »Alberta loosens oil curbs
Bloomberg Alberta loosened crude-oil production limits for second time in two weeks, exempting new conventional wells from output caps in a bid to spur drilling and boost employment. Alberta is trying to allow more oil production without overwhelming the province’s strained pipeline network.
Read More »Ireland’s ESB nears deal for stake in Scottish wind farm
Bloomberg Electricity Supply Board (ESB), the state-owned Irish utility, is in advanced talks to buy a stake in a Scottish offshore wind farm project owned by Electricite de France SA, people familiar with the matter said. A deal for a 50% holding in the Neart na Gaoithe development could be announced as soon as the next few weeks, the people ...
Read More »Mozambique’s ENH to attract investors for $1.5b gas funding
Bloomberg Mozambique will court investors for $1.5 billion of financing for a giant natural-gas project run by Total SA. State oil company Empresa Nacional de Hidrocarbonetos will kick off a funding roadshow in Johannesburg next week before moving on to London, said Chief Executive Officer Omar Mitha. The project — potentially transformative for Mozambique’s ailing economy — includes the development ...
Read More »