Energy Update
Spruce Finance Inc., a solar-financing company backed by Kleiner Perkins Caufield & Byers LLC, arranged $120 million in debt for rooftop solar systems in the U.S. The deal closed Friday.
MAPUTO, May 25 (Reuters) - State-owned Mozambique Asset
Management (MAM) missed a May 23 deadline to make a $178 million
loan repayment but remains in talks with creditors about
rescheduling the debt, finance ministry spokesman Rogério Nkomo
said on Wednesday.
Saudi Arabia is seeking to revive its stalled solar-power program, scaling back more ambitious targets it set four years ago after making little headway in transforming the energy supply of the world’s biggest oil exporting nation.
MONACO, May 25 (Reuters) - Indonesian Formula One driver Rio Haryanto needs more money to keep his seat at the Manor Racing team, but he is safe for the first half of the season, his manager said on Wednesday.
KHOBAR, Saudi Arabia/DUBAI May 25 (Reuters) - Venezuela has
nominated the country's former energy minister, Ali Rodriguez,
as the next secretary general of oil producer group OPEC, three
industry sources said on Wednesday.
LONDON, May 25 (Reuters) - Egyptian investment firm Qalaa
Holdings is confident its new refinery will cut the country's
dependence on crucial oil product imports, particularly as a
weaker currency and rising crude prices force the government to
reduce its energy bills.
On Tuesday during WINDPOWER 2016 in New Orleans, CEO of the American Wind Energy Industry Tom Kiernan and Vestas CEO Chris Brown said that wind power is well-positioned now but the industry has five years to get costs down enough so that unsubsidized wind power is cheaper than gas and solar.
Like other regions of the world, the African mining sector is struggling. Factors affecting the industry include price volatility, surging operational costs, and a declining commodity demand. It is not all doom and gloom. There are opportunities out there, thanks to a booming global and local renewable energy sector.
OSLO, May 25 (Reuters) - Norway's $850 billion sovereign
wealth fund, the world's biggest, voted in favour of the 2015
remuneration package of Royal Dutch Shell Chief Executive Ben
van Beurden at Tuesday's annual meeting of shareholders, the
fund said on its web site on Wednesday.
COLOGNE, May 25 (Reuters) - Donald Trump would be "highly
unlikely" to be able to renegotiate the global accord on climate
change if elected U.S. president, the U.N.'s climate chief said
on Wednesday, as doing so would require the agreement of 195
countries.
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