British Airways secures £2bn loan facility to be ready for recovery in demand
British Airways is able to repay the loan at any time with notice (Tim Ockenden/PA)
British Airways has secured a £2 billion loan to help it weather the pandemic and be ready for a recovery in demand.
The carrier’s owner International Airlines Group (IAG) – which also owns Iberia and Aer Lingus – said the five-year loan facility was underwritten by a syndicate of banks and is partially guaranteed by the Government’s UK Export Finance (UKEF).
BA, which is set to drawdown from the loan in January, is able to repay the loan at any time with notice, but is bound by some restrictions on dividend payments by the airline to IAG.
The 605MW project will supply clean power to over 650,000 Taiwanese families
30 Dec 2020 |
Chito Santiago
Global renewable energy developer Ørsted is selling a 50% stake in Greater Changhua 1 offshore wind farm in Taiwan to a consortium comprising of Caisse de dépôt et placement du Québec (CDPQ) and local investor Cathay PE for about NT$75 billion (US$2.67 billion).
Ørsted will retain a 50% share in the project, which will be financed by its corporate balance sheet and will deliver the long-term operations and maintenance (O&M) services to the project. The 605-megawatt (MW) wind farm is part of the 900MW Greater Changhua 1 & 2a offshore wind farms, which Ørsted is currently constructing and expects to be completed in 2022. Majority of the deal proceeds will be used to pay for the engineering, procurement and construction (EPC) services for the project.
China knows the world will need oil, natural gas and coal for decades to come. It sees “green” as the color of money and is happy to extend credit under terms very favorable to China.
Joe Biden has pledged that one of his first acts as President will be rejoining the Paris Climate Treaty – which
gives China a complete pass on reducing emissions until at least 2030. Even Biden’s designated “climate envoy,” former Secretary of State John Kerry, says the existing treaty “has to be stronger,” but then claims China will somehow become an active partner, instead of the competitor and adversary it clearly is. His rationale: “Climate is imperative, it s as imperative for China as it is for us.”
Here are some more selected news articles for the week ending 26 December 2020. Go here for Part 1.
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Scientist Dominic DiGiulio s Work Illuminated How Fracking Affects People and Environment - - People in communities across the nation have found themselves the participants in a fracking experiment. The practice is controversial because of its potential impacts to public health and the environment, specifically, it can poison drinking water. After years of research, scientist Dominic DiGiulio made this link. He found that people s groundwater can become contaminated under certain conditions. The pits that store fracking chemicals are one example. Such was the case in Pavillion, Wyoming, a community of roughly 230 people.Back in 2008, residents began complaining their water had a foul taste and smell