Bulgarian Energy Holding (BEH) has raised approximately €100m ($114m) by issuing a seven-year €550m ($626m) bond to the European Bank for Reconstruction and Development (EBRD).
The bond is aimed at supporting the reformation of the country’s energy sector and considered as the largest corporate bond issued with the longest tenor.
BEH proposes to use the amount raised from the bond issue to refinance the €500m ($569m) bond issued in 2013.
BEH is a Bulgarian energy holding company while EBRD is a UK-based international financial institution.
Saudi Aramco, Air Products and ACWA Power have signed a term sheet to form a gasification/power joint venture (JV). Air Products will own a 55% interest in the JV, while Saudi Aramco and ACWA Power will hold the remaining stake.
The JV has agreed to purchase the gasification assets, power block and the associated utilities from Saudi Aramco for approximately $8bn. The assets are currently under construction and will be transferred to the JV upon successful start-up next year.
The JV will serve Saudi Aramco’s Jazan Refinery and terminal at Jazan Economic City (JEC) in Saudi Arabia. It will own and operate the facility under a 25-year contract for a fixed monthly fee.
Saudi Aramco will supply feedstock to the JV for the project, while the JV will produce power, hydrogen and other utilities for Saudi Aramco.
Both based in Saudi Arabia, Saudi Aramco is a state-owned oil company engaged in the production of petroleum and natural gas, while ACWA Power is engaged in electricity production in the Middle East.
Air Products and Chemicals is US-based gas and chemical supplier for industrial applications.
Siemens Gamesa Renewable Energy (SGRE) has secured a wind turbines supply contract from ENGIE for the Tonstad wind farm in Norway.
SGRE will supply 51 SWT-DD-142 onshore wind turbines to the wind farm, which is estimated to have a total capacity of 208MW.
Based in Spain, SGRE is engaged in the supply of wind power solutions.
Lightsource BP has completed the acquisition of six solar development assets, with a total capacity of 135MW, from Orion Renewable Energy Group.
The acquisition follows Pennsylvania Department of Environmental Protection’s (DEP) draft plan to expand in-state solar resources by 11GW and supply 10% of the state’s electric retail sales from solar energy sources by 2030.
Based in the UK, Lightsource BP is engaged in the development, acquisition, and management of solar projects and smart energy solutions, while Orion Renewable is a US-based renewable electricity generation company.