Coronavirus Company News Summary – Saudi Electricity Company Issues $ 1.3 Billion Bonds
Saudi power company sold $ 1.3 billion of double-tranche Islamic bonds. He claims this is the country’s first public green issue in 2020. It sold $ 650 million in a five-year tranche at 140 basis points on midswaps, with another $ 650 million in ten-year Islamic bonds at 170 basis points on midswaps, Reuters reported.
Risen energy, manufacturer of solar photovoltaic products, announced a 140 MW structured supply contract with UPC-AC Solar Energy Asia. As per the agreement, Risen’s Mono PERC modules will be delivered in early 2021.
The government of India seems likely to increase the special loans it has offered to state-run electricity distribution companies. The increase will bring loans to $ 16.3 billion (Rs 1.2 billion) from the previously announced $ 12.2 billion (Rs 900 billion). The loans were intended to cover additional contributions from distribution companies to power producers for the April-June period, a senior official told Financial Express. Due to additional difficulties due to the coronavirus lockdown, several states have requested a widening of the window, according to the secretary of the Ministry of Power, Sanjiv Nandan Sahai.