SPIC

By Leticia Fucuchima

SAO PAULO, June 5 (Reuters) - Chinese electricity company SPIC announced on Wednesday a 780 million reais ($147.41 million) investment in construction of two new wind farms in Northeastern Brazil, while making its debut in the country's solar sector, with two large parks beginning operations.

The company is diversifying its portfolio and aiming to become one of Brazil's three largest energy generators, Adriana Waltrick, CEO of SPIC's Brazilian unit, told Reuters.

SPIC's new wind farms, to be built in Rio Grande do Norte state, will have a combined installed capacity of 105.4 megawatts (MW) to be sold on the free energy market. Construction work is expected to begin by January 2025 and operations should start the following year.

New solar parks were inaugurated this week in Piaui and Ceara states, totaling 738 megawatts-peak (MWp) of power.

SPIC holds a 70% stake of the parks, which the Chinese company purchased in 2022 when they were under development by Recurrent Energy. Recurrent, formerly Canadian Solar, remains a shareholder and operates the project.

The solar plants received 2 billion reais in investments and all energy produced will be sold on the free energy market. Around 65% of the energy has already been sold under long-term contracts, and the remaining 35% will be negotiated under shorter deals.

"These projects demonstrate the appetite we have for Brazil and for renewable energy sources" said CEO Waltrick.

SPIC has approximately 3,800 MW of installed capacity with assets in operation in Brazil, considered one of the company's priority markets.

The firm is awaiting news from the Brazilian government about energy auctions already planned for this year, and would also be interested in taking part in possible bids for new hydroelectric plants, should the government decide to resume such projects.

The Chinese giant's projects in the country also involve studies into the production of green hydrogen associated with installation of offshore wind turbines, a generation technology already mastered by the company outside Brazil.

($1 = 5.2914 reais)

(Reporting by Leticia Fucuchima; writing by Luana Maria Benedito; Editing by David Gregorio)

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May 16 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• DIVIDEND OF 1.5 RUPEES PER SHARE

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION MARCH-QUARTER CONSOL NET LOSS AFTER TAX 242.3 MILLION RUPEES VERSUS PROFIT 254.7 MILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.25 BILLION RUPEES VERSUS 6.72 BILLION RUPEES

Source text for Eikon: ID:nNSEbNsMWh

Further company coverage: SPIC.NS

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March 18 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION - CO'S PLANTS AT TUTICORIN RESTARTED & PRODUCTION OF UREA RESUMED

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD - COMPLETED ALL WORK TO REPLACE/REPAIR DAMAGED EQUIPMENT'S & MACHINERY DUE TO FLOOD

Source text for Eikon: ID:nNSE3jTVH8

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Feb 14 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION DEC-QUARTER CONSOL NET PAT 332.8 MILLION RUPEES VERSUS PROFIT 896.6 MILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 5.06 BILLION RUPEES VERSUS 6.99 BILLION RUPEES

Further company coverage: SPIC.NS

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** Shares of Southern Petrochemical Industries Corporation SPIC.NS rise as much as 6.1% to 85.6 rupees

** The fertilizer maker enters into a memorandum of understanding (MoU) with India's southern state of Tamil Nadu

** As per the agreement, Tamil Nadu will provide infrastructural support and regulatory facilitation to SPIC

** Stock on track to snap two sessions of losses, if gains hold

** SPIC stock has been above its 50-day, 100-day, and 200-day simple moving avgs for over a month, indicating bullish sentiment

** Stock lost 11.5% in 2023

(Reporting by Anuran Sadhu in Bengaluru)

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Jan 8 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• HAVE ESTABLISHED PARTIAL MOVEMENT OF EMPLOYEES AND CONTRACT WORKERS INSIDE FLOOD-AFFECTED FACTORY

• NORMAL WORK TIMINGS IS BEING FOLLOWED AND DAMAGE ASSESSMENT IS IN PROGRESS

• NECESSARY STEPS INITIATED TO RESTORE PLANTS TO NORMALCY AND COMMENCE OPERATION

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Dec 18 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• OPERATION OF CO'S PLANTS AT TUTICORIN STOPPED ON DEC 17

• OPERATION STOPPED DUE TO FLOODING INSIDE FACTORY AREA

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Dec 4 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• CO'S PLANTS AT TUTICORIN AFTER COMPLETION OF AMMONIA PLANT MAINTENANCE RESTARTED

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Nov 29 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• CO'S PLANTS ARE UNDER SHUT DOWN TO ADDRESS AMMONIA PLANT MAINTENANCE

• EXPECT TO LINE UP PRODUCTION BY DEC 2, 2023

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Nov 6 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• INDIA'S SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION SEPT-QUARTER NET PAT 450.6 MILLION RUPEES VERSUS PROFIT 1.09 BILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION SEPT-QUARTER REVENUE FROM OPERATIONS 7.44 BILLION RUPEES VERSUS 7.08 BILLION RUPEES

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Aug 11 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• INDIA'S SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION JUNE-QUARTER CONSOL NET PAT 513.9 MILLION RUPEES VERSUS PROFIT 718.1 MILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 5.69 BILLION RUPEES VERSUS 7.51 BILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION - APPROVED RAISING FUNDS VIA NON CONVERTIBLE DEBENTURES WORTH UP TO 500 MILLION RUPEES

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May 24 (Reuters) - Southern Petrochemical Industries Corporation Ltd SPIC.NS:

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD - DIVIDEND 1.5 RUPEES PER SHARE

• INDIA'S SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD MARCH-QUARTER CONSOL NET PAT 254.7 MILLION RUPEES VERSUS PROFIT 51.7 MILLION RUPEES

• SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LTD MARCH-QUARTER CONSOL INCOME FROM OPERATIONS 6.68 BILLION RUPEES VERSUS 2.65 BILLION RUPEES

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