APT Translations

The companies said on Thursday they signed an exclusivity agreement to cooperate in future auctions, as the Iberian peninsula "offers significant growth opportunities".

The projects comprise 200 megawatts of photovoltaic solar panels and up to 285 MW of stand-alone battery energy storage capacity. The solar arrays will power about 43,000 homes, it said.

The 2-GW factory, expandable to 4 GW, will produce hyper modular PEM electrolysers

The issuance comprises dual tranches of USD 500 million each, with tenors of 5 and 10 years and coupons of 4.875% and 5.25% respectively. The orderbook peaked at USD 4.6 billion, an oversubscription of 4.6 times, with an average split of 70% to international investors and 30% to MENA investors.

Sinopec did not disclose the size of the planned solar power stations, which it also intends to build at its mines, petrochemical sites and gas stations.

"We have received a new order for a 100 MW hybrid captive solar power project under the captive power producer segment of the company," it said.

The current surge is primarily fueled by economic expansion, intense heatwaves, and a significant shift towards electric-based technologies like electric vehicles and heat pumps.

Companies working to help India meet its net-zero goals will be among the beneficiaries of the foreign capital flows, according to K Balasubramanian, head of corporate banking for Southeast Asia and the Indian subcontinent.

Multiple countries in the West African Sahel and beyond have seen Russian-linked coup d'etats since Kremlin-linked military commanders took power in Mali in 2021, followed by similar events in Burkina Faso, Sudan, Chad and Niger.

The technology, which has been in development for a decade, promises to amplify electricity into significantly more heat, offering a sustainable alternative to traditional power generation sources.