A mix of higher operating costs and ageing coal assets – plus historically generous solar tariffs – meant the utility banked more profit from the 1.53 TWh of solar electricity it sold in the first half than it did from 25.9 TWh of coal-fired power.
The Singapore-based renewable energy developer has agreed to be sold to investment fund Global Infrastructure Partners. China Investment Corp, Canada’s PSP Investments and other co-investors are also involved in the deal, which is the largest yet seen for the renewable energy industry.
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