Monday, 26 October 2026

Hibiscus Petroleum and Seri Pajam Development signed a heads of agreement on Sept. 30 to jointly explore power generation projects, according to The Sun. The document was signed by Hibiscus Petroleum managing director Datuk Dr Kenneth Gerard Pereira and Seri Pajam Development CEO Ten Wee Seong.

The collaboration identifies SPD Tech Valley in Senawang, Negeri Sembilan, as a potential location for power generation development, according to StarProperty.

Potential projects under the agreement may use gas turbines, gas engines, solar power and carbon capture systems, as outlined under the heads of agreement, according to The Sun.

Tesla's proposed USD 10 billion Project Crystal Sun solar factory in Texas could receive up to 35 years of local equipment tax breaks under four agreements approved by Fort Bend County commissioners on Thursday, according to toptech.news.

The structure combines two phases. A Chapter 312 agreement would eliminate 100% of county property taxes on the plant's equipment and other tangible personal property for 10 tax years, toptech.news reported.

After that abatement ends, the county would return 90% of Tesla's equipment taxes as annual grants for 20 years, keeping 10% for its general fund, according to toptech.news.

Tesla has not committed to building the plant in Texas, toptech.news reported.

The European Bank for Reconstruction and Development (EBRD) has committed up to USD 221 million to a platform holding stakes in Scatec's solar, wind, and battery storage projects in Egypt, according to statements from Scatec and the EBRD.

The platform, Egypt Renewables Holdings B.V., will be owned 60% by Scatec and 40% by the EBRD.

The portfolio is expected to add 2.7 GW of solar, 900 MW of wind, and 4.2 GWh of storage to Egypt's grid, according to the EBRD.