By Reuters Staff
2 Min Read
MADRID, April 28 (Reuters) - Spanish renewable energy company Ecoener has slashed the target size of its initial public offering by almost half, a day before closing order books and fixing a final price for what will be Madrid’s first listing this year.
Ecoener had planned to raise up to 200 million euros ($219 million) to spend on new facilities including wind farms and solar parks, but said on Wednesday it was now aiming for a maximum of 110 million euros.
“During the process of placement (of orders for stock) Ecoener decided to adjust the size of the initial offering of ordinary shares,” the company said in a stock market filing.
By Reuters Staff
2 Min Read
MADRID (Reuters) -Northland Power has made its first foray into Spain’s fast-growing renewable energy generation market with a deal to buy a portfolio of wind farms and solar parks, the Canadian company said on Wednesday.
A wave of global targets to cut carbon emissions are stoking investor interest in renewable energy businesses, and Spain’s sunny plains, windy hillsides and political enthusiasm for the sector have made it a focus for the market in Europe.
Northland Power said in a statement it will pay 345 million euros ($413.3 million) in cash for the assets, which are located across Spain, and take on 716 million euros in debt.
By Reuters Staff
1 Min Read
LONDON, April 26 (Reuters) - Energy trader Vitol has bought a 10% stake in green hydrogen firm Gen2 Energy that uses Norway’s surplus hydroelectric power to produce the fuel, the company said on Monday.
Gen2 Energy is currently building its first plant in the north of the country, which is due to start up in December 2023.
The site will have a capacity of 80 megawatts and produce 11,700 tonnes of hydrogen per year.
Hydrogen is considered green when the gas is extracted from water using electrolysis powered by non-fossil fuels. The gas is blue if it is produced from natural gas and the CO2 emissions are captured while grey is the same process but without CO2 storage.
A unit of Samsung C&T is considering investing $673 million in building solar power plants in Texas, aiming to start commercial production in December 2023, documents reviewed by Reuters showed.
(Adds UCT professor, context)
JOHANNESBURG, April 23 (Reuters) - South Africa plans to lift the licensing threshold for small-scale power generation projects to 10 megawatts (MW) from 1 MW, a boost to firms anxious to curb their reliance on ailing state utility Eskom, but industry experts had hoped for more.
Africa’s most industrialised economy regularly suffers electricity outages because of faults at Eskom’s creaking coal-fired power stations.
But onerous regulations have prevented many companies, such as miners, from setting up their own generation facilities.
According to a notice published in the government gazette on Friday, “embedded generation” projects of up to 10 MW will be exempt from requiring a licence but will need to register with energy regulator Nersa.