By Reuters Staff
3 Min Read
PARIS, May 3 (Reuters) - Energy group EDF’s share of the French power market is at risk of plummeting if a restructuring plan to improve its financing situation does not go ahead, its chief executive said in a letter to unions.
Under the terms of the plan, which faces strong opposition from unions who fear it could lead to job cuts, France hopes to place state-run EDF’s debt-laden and capital-hungry nuclear business into a holding company that would be fully state owned.
The holding company would control a separate entity housing the more lucrative parts of the business, such as renewable energy, and free of its liabilities. Investors would be invited to acquire up to 30% of that unit.
Spanish renewable energy company Ecoener has slashed the target size of its share issue by almost half, a day before closing order books and fixing a final price for what will be Madrid's first initial public offering this year.
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.
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.
6 Min Read
KOLKATA, India (Thomson Reuters Foundation) - Since he was a child, Santipada Gon Chaudhuri had sought ways to help India’s rural poor, so when the electrical engineer was invited to visit a co-worker’s home in the Himalayan village of Herma in the early 1980s, he saw his chance.
“I was appalled to see how local communities were living in darkness after sunset,” remembered Chaudhuri, 71, who then worked for the government in the northeastern state of Tripura.
“Some used kerosene lamps, but even kerosene was not always easy to get. Since I had both the skill and position to try and provide power to them, it made me act,” he said.