7 July
Pakistan has signed a $1.5bn agreement with China Gezhouba to set up a hydropower project as a part of China-Pakistan Economic Corridor. The companies plan to complete the 700.7 MW project in the Sadhanoti district on the Jhelum river by 2026.
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Japan’s SoftBank Group is negotiating with various companies to divest its entire 80% stake in Indian green energy firm SBG Cleantech. This company has invested around $800m in its 7.7GW solar portfolio in India. Companies interested in buying stakes include Canada Pension Plan Investment Board, Mubadala Investment and Brookfield Asset Management.
Solar-panel installer Sunrun has agreed to purchase Vivint Solar in an all-stock deal valued at approximately $3.2bn, including debt. As per the terms of the agreement, Sunrun’s shareholders will hold a nearly 64% stake in the merged entity, while Vivint Solar’s stockholders will own the remaining stake.
US Government data has suggested power companies in the country received at least $676m in coronavirus-related small business loans. The funding went to more than 3,800 electric utilities, and generators of wind, solar, hydroelectric and fossil fuel power. Small electric co-operatives took the largest share of the money, receiving a total of $318m. Coal mining companies received about $170m, while firms offering other electric power generation received nearly $162m in assistance. Solar power firms alone received $113m and $28m was offered to transmission providers.
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