By Reuters Staff
1 Min Read
FRANKFURT, Jan 19 (Reuters) - German utility RWE on Tuesday said it agreed to sell a 24% stake in four Texan onshore wind farms to UK-based Greencoat, in a deal giving the participation an enterprise value of $300 million.
RWE will therefore retain a 25% stake in the farms after selling a 51% stake to Canada’s Algonquin Power & Utilities last month. (Reporting by Christoph Steitz; editing by Thomas Seythal)
By Reuters Staff
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BEIJING, Jan 19 (Reuters) - China’s power consumption in 2020 rose 3.1% from the previous year, the country’s state planner said on Tuesday, despite several months of disruptions to industrial activity caused by the coronavirus outbreak.
The National Development and Reform Commission (NDRC) said at a press briefing that electricity consumption from primary industry grew 10.2% from 2019, while consumption from secondary and tertiary industry increased 2.5% and 1.9%, respectively.
The NDRC did not give the absolute figures for power consumption last year. In 2019, China consumed a total of 7.23 trillion kilowatt hours (kWh).
China has been leading the global economic recovery since emerging from the initial impact of the COVID-19 pandemic. Its gross domestic product (GDP) expanded by 2.3% in 2020, making China the only major economy in the world to avoid a contraction last year as many nations struggled to contain the coronavirus.
By Reuters Staff
1 Min Read
LONDON, Jan 19 (Reuters) - Norwegian renewable energy investment firm Aker Horizons has agreed to take a 75% stake in global wind and solar company Mainstream Renewable Power, in a deal valuing Mainstream at about 1 bln euros, Mainstream said on Tuesday.
Mainstream said the investment would help accelerate its plans to bring 5.5 gigawatts of renewable projects to financial close by 2023 ahead of a planned IPO.
“It means we can widen our scope for entry into new markets and further deepen and expand our leadership position in existing ones, such as in Chile where we will soon be supplying the equivalent of one in seven Chilean homes with power,” Mainstream’s founder and chairman, Dr Eddie O’Connor, said in a statement.
Sees Aker Horizons IPO within 12 months Sees Mainstream IPO by 2023 Aker Horizons owner Aker shares rise 8% (Adds quotes, detail, bullet points, updates shares)
OSLO/LONDON, Jan 19 (Reuters) - Norway’s Aker Horizons, owned by investment firm Aker, will acquire a 75% stake in Mainstream Renewable Power in a deal that values the wind and solar company at up to 1 billion euros ($1.21 billion), the companies said on Tuesday.
The deal values Mainstream at 1 billion euros, when including a potential payout of up to 100 million euros in 2023, which depends on the company’s performance.
“Through the acquisition of Mainstream, Aker Horizons will gain a platform to drive forward its renewable energy ambitions and position itself in a growing market for hybrid projects,” Aker Horizons CEO Kristian Roekke said.