Total Has Successfully Issued Hybrid Bonds To Finance Its Development Strategy in Renewables

Total SE has successfully issued perpetual subordinated bonds in the amount of €3 billion: €1.5 billion at 1.625% coupon for the tranche with a 7 year first call date €1.5 billion at 2.125% coupon for the tranche with a 12 year first call date The proceeds from the bonds will be used to finance its development strategy, mainly acquisitions, in renewables, in particular €1.7 billion for the acquisition of a 20% interest in Adani Green Energy Limited. With a weighted average coupon of 1.875%, this issuance that was very well…

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Renewable power is defying the Covid crisis with record growth this year and next

Renewable power is growing robustly around the world this year, contrasting with the sharp declines triggered by the Covid-19 crisis in many other parts of the energy sector such as oil, gas and coal, according to a report from the International Energy Agency. Driven by China and the United States, new additions of renewable power capacity worldwide will increase to a record level of almost 200 gigawatts this year, the IEA’s Renewables 2020 report forecasts. This rise – representing almost 90% of the total expansion in overall power capacity globally…

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100% of Hackney Council electricity now supplied by renewables

Hackney Council has announced it will source 100% of the electricity it uses from renewable sources – as part of its decisive action to reduce carbon emissions and fight global warming.  The increase – which will see all of the Council’s electricity sourced from wind and solar power – is being introduced alongside a range of other radical decarbonisation measures.  These include large rooftop solar panel schemes across Council buildings, and the recently-announced Green Homes programme, which will provide free insulation and trial renewable heating upgrades to help residents save…

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E.ON extends 100% renewables-backed electricity offer to small business customers

E.ON has announced it would be extending its 100% renewables-backed electricity supply to eligible small business customers across Britain – committing to source electricity matched with wind, solar and other sources for 100,000 or more small businesses over the next 12 months. E.ON already provides its residential customers electricity supply backed by 100% renewable sources – on all tariffs, as standard, at no extra cost. Eligible small business customers will also now receive that offer when they renew or agree a new supply contract directly with E.ON. In a survey for…

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£149k for bid to use hydrogen from renewables to produce gin

Edinburgh Napier will play a key role in an investigation into the feasibility of hydrogen as a fuel to decarbonise the distilling process. The HySpirits project has been awarded £148,600 by the Department of Business, Energy, and Industrial Strategy (BEIS) to conduct the study at The Orkney Distillery. The project will investigate the development of a thermal fluid heater system to operate with hydrogen as the combustion fuel within the distilling process. This system will remove the need to use fossil fuels such as kerosene and liquid petroleum gas. HySpirits brings together…

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