The cable will connect the US to Spain and the UK once completed in 2022. This new expanded collaboration between Telxius and Google will allow Google to connect the new cable to the Telxius Cable Landing Station (CLS) in Sopelana, Spain, and leverage the rich interconnection and advanced transmission capabilities of the nearby Derio Communications Hub.
Reig Jofre, company listed on the Spanish stock exchange and specialized in the manufacturing of sterile injectable products, has reached an agreement with Johnson & Johnson (Janssen), to execute the technology transfer to manufacture its investigational COVID-19 vaccine candidate. Reig Jofre is completing the construction of a new state-of-the-art factory in Barcelona, tripling its existing capacity and boosting effienciency, which will be opened in 1Q21. The investment reaches to 30 million euros.
Amazon has announced 26 new wind and solar energy projects totaling 3.4 GW of electricity production capacity, bringing its total investment in renewable energy in 2020 to 35 projects and over 4 GW of capacity. This makes Amazon the world’s greatest corporate buyer of renewable energy. Amongst these new contracts were two with Spanish companies: Acciona and Naturgy. Acciona’s includes the supply of 641 MW of clean energy to the US multinational, while Naturgy’s means the construction of a wind farm in Australia provided with 97 MW.
According to the central bank, the lenders will be able to resume payments once their adequate capitalisation has been verified. The Bank of England urges prudence regarding the return of dividends and will maintain some requirements. These include not exceeding 25% of the profits of the last eight quarters, or 0.2% of their risk-weighted assets. Everything points to the ECB lifting its veto on dividends tomorrow.
After the failed talks on merger with BBVA, the Catalan lender has noted expressions of interest in its UK subsidiary TSB, due to to be sold in 2021 at a price of over 800 million euros. So the bank may be exploring possibilities with Credit Agricole, BNP Paribas or Zurich Insurance Group and other European firms to reach alliances. Market rumours point to the difficulty of transferring TSB at a reasonable price and also flag Banco Santander as one of the candidates to buy it.
Thirty one per cent of Spanish citizens have had to use their savings during the pandemic. This is at least double that of France (15%), Germany (14%) and the Netherlands (12%). In addition, 19% of Spaniards have had difficulty in meeting their housing costs. In these three above-mentioned countries, the percentage of those who acknowledge this problem is around 10%. This is data from the latest Focus on Spanish Society, a publication edited by Funcas.
Logista, a leading distribution company in southern Europe, was recognized as a world leader in sustainability by CDP, an international non-profit organization, by entering its prestigious A List for its fight against climate change. This is the fifth year in a row that Logista achieves this recognition, being the first European distributor to achieve it over such a long period of time.
Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.
The renewable energy group has announced the inclusion of a new clause in contracts with suppliers and customers to protect itself against Brexit. The company itself describes this as a “Brexit clause. This will eventually offset the impact of new customs duties which will be applied to imported and exported equipment. This is currently duty free.
Last week Repsol unveiled its strategic plan for the period 2021-25. The company will decarbonize its asset base and implement a new operating model with new pillars such as the Customer and Low-Carbon Generation Businesses. Furthermore, Repsol aims to substantially increase EBITDA, to more than €8.2 Bn in 2025. The strategic plan will have two differentiated periods. In the first two years, it will focus on ensuring financial strength. From 2022, the point will shift to the acceleration of growth.