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South Africa's Eskom Seeks Solar Buyers in Shift Away From Coal

South Africa's Eskom Seeks Solar Buyers in Shift Away From Coal

Bloomberg2 days ago
South Africa's Eskom Holdings SOC Ltd. called for proposals from large power users to buy solar energy, in a step by the utility to wind down its dependence on coal.
Eskom, which generates more than 80% of its electricity from the dirtiest fossil fuel, issued a request for long-term power-purchase agreements from industrial customers, the company said in a statement on Tuesday. The contracts will range from five to 25 years, with the earliest project reaching commercial operation by the end of 2027.
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BBVA Argentina Announces Second Quarter 2025 Financial Results
BBVA Argentina Announces Second Quarter 2025 Financial Results

Yahoo

time15 minutes ago

  • Yahoo

BBVA Argentina Announces Second Quarter 2025 Financial Results

BUENOS AIRES, August 20, 2025--(BUSINESS WIRE)--Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) ("BBVA Argentina" or "BBVA" or "the Bank") announced today its consolidated results for the second quarter (2Q25), ended on June 30, 2025. As of January 1, 2020, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2024 and 2025 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to June 30, 2025. 2Q25 & 1H25 Highlights BBVA Argentina's inflation-adjusted net income in 2Q25 was $59.6 billion, 31.1% lower than the $86.5 billion reported on the first quarter of 2025 (1Q25), and 62.1% lower than the $157.4 billion reported on the second quarter of 2024 (2Q24). The 6 month accumulated net income for 2025 was $146.1 billion, 31.7% below the $213.8 billion reported in the same period of 2024. In 2Q25, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.2% versus 2.0% the prior quarter, and an inflation adjusted average return on equity (ROAE) of 7.6% versus 11.4% the prior quarter. The six-month accumulated ROA for 2025 was 1.5% versus 3.0% in 2024, while the ROE was 9.6% versus 13.3% in 2024. The 2Q25 total NIM was 19.1% versus 19.2% in 1Q25. NIM in local currency was 21.7% and NIM in USD was 5.4%, the former remaining stable from 1Q25's 21.8% and the latter improving significantly from 3.9% in the prior quarter. In terms of activity, total consolidated financing to the private sector in 2Q25 totaled $11.3 trillion, increasing 15.7% in real terms compared to 1Q25, and 109.6% compared to 2Q24. In the quarter, the variation was driven by an overall growth in all lines, especially in prefinancing and financing of exports by 23.5%, in overdrafts by 34.6% and in other loans by 25.2%. BBVA's consolidated market share of private sector loans reached 11.61% as of 2Q25, gaining 35 bps quarter-over-quarter (QoQ), and 107 bps year-over-year (YoY). Total consolidated deposits in 2Q25 totaled $13.0 trillion, increasing 12.0% in real terms during the quarter, and 60.8% YoY. Quarterly increase was mainly explained by an increment in time deposits by 36.3%, and in savings accounts by 11.6%, the latter mainly due to deposits in foreign currency. The Bank's consolidated market share of private deposits reached 9.64% as of 2Q25 increasing 49 bps QoQ and 214 bps YoY. As of 2Q25, the non-performing loan ratio (NPL) reached 2.28%, with a 115.5% coverage ratio. The quarterly efficiency ratio in 2Q25 was 56.5%, remaining relatively stable compared to 1Q25's 56.3%. As of 2Q25, BBVA Argentina reached a regulatory capital ratio of 18.4% (Tier 1: 18.4%), entailing a 123.9% excess over minimum regulatory requirement. Total liquid assets represented 48.7% of the Bank's total deposits as of 2Q25 2Q25 Results Conference Call Thursday, August 21, 2025Time: 12:00 p.m. Buenos Aires time – (11:00 a.m. ET)To participate click to register About BBVA Argentina BBVA Argentina S.A. (NYSE; MAE; BYMA: BBAR; Latibex: XBBAR) is a subsidiary of the BBVA Group, its main shareholder since 1996. In Argentina, it has been one of the leading financial institutions since 1886. BBVA Argentina offers retail and corporate banking to a wide client base, including individuals, SMEs, and large corporations. BBVA's strategy is to support its clients' ambition to go further. This is achieved through constant and empathetic support during key moments, recognizing the inner strength that drives people. The value proposition focuses on anticipation and innovation to be the ideal partner that helps clients reach their goals. View source version on Contacts BBVA Argentina Investor Relations investorelations-arg@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering
Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering

Business Wire

time16 minutes ago

  • Business Wire

Cantor Equity Partners IV, Inc. Announces Pricing of $400 Million Initial Public Offering

NEW YORK--(BUSINESS WIRE)--Cantor Equity Partners IV, Inc. (Nasdaq: CEPF) (the 'Company') announced today the pricing of its initial public offering of 40,000,000 Class A ordinary shares at $10.00 per share. The shares are expected to be listed on the Nasdaq Global Market under the symbol 'CEPF' and begin trading on August 21, 2025. The underwriters have been granted a 45-day option to purchase up to an additional 6,000,000 shares offered by the Company to cover over-allotments, if any. The offering is expected to close on August 22, 2025, subject to customary closing conditions. Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. About Cantor Equity Partners IV, Inc. Cantor Equity Partners IV, Inc. is a blank check company sponsored by Cantor Fitzgerald and led by Chairman and Chief Executive Officer Brandon Lutnick. Cantor Equity Partners IV, Inc. was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, but the Company intends to focus on a target in an industry where it believes the Company's management teams' and affiliates' expertise will provide the Company with a competitive advantage, including the financial services, digital assets, healthcare, real estate services, technology and software industries. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the 'SEC') on August 20, 2025. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor New York, New York 10022; Email: prospectus@ Copies of the registration statement can be accessed through the SEC's website at This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the successful consummation of the Company's initial public offering and use of the net proceeds of the offering as described in the offering prospectus, are subject to risks and uncertainties including those set forth in the Risk Factors section of the Company's registration statement for the offering filed with the SEC, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

From Intern to CEO? That's the Dream — or a Nightmare
From Intern to CEO? That's the Dream — or a Nightmare

Bloomberg

time18 minutes ago

  • Bloomberg

From Intern to CEO? That's the Dream — or a Nightmare

Save This is Bloomberg Opinion Today, the clever financial origami of Bloomberg Opinion's opinions. Sign up here. Normally, after an internship, you expect to walk away with a few things: a new list of bullet points to add to your resume, some cool swag with the company logo on it and — if you're lucky — a few friends that you met in the trenches. But the title of CEO? That's not in the cards, no matter how much Kool-Aid you drink.

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