Daily Energy News
Policy & Regulatory
European Commission approves €30bn SDE++ Dutch renewable support scheme
16 Dec 2020The European Commission has approved, under EU State aid rules, the €30bn Stimulering Duurzame Energieproductie ("SDE++") scheme to support projects to reduce greenhouse gas (GHG) emissions in the Netherlands. The scheme, which will run until 2025, will be open to projects based on renewable electricity, gas and heat, the use of industrial waste heat and heat pumps, the electrification of industrial heat processes and electrification of hydrogen production, and carbon capture and storage (CCS) for industrial processes, including hydrogen production and waste incineration.
Read moreSouth Korea presents a new 2030 climate target
16 Dec 2020The Ministry of Environment of South Korea has unveiled its draft 2050 Long-Term Low-Carbon Power Generation Strategy (LEDS) and the update of its 2030 National Greenhouse Gas Reduction Goals (NDC). It targets a 24.4% reduction in greenhouse gases (GHG) emissions by 2030 compared to 2017 levels instead of the previous 37% below business-as-usual level goal. In addition, the government’s LEDS plan aims to convert fossil fuel power generation to renewable energy and green hydrogen, and promote carbon dioxide capture (CCUS) technology to achieve carbon neutrality in the power sector.
Read moreJapan targets up to 45 GW of offshore wind capacity by 2040
16 Dec 2020The Japan government has unveiled a new target for offshore wind energy, aiming to reach 10 GW of offshore wind capacity by 2030 and between 30 GW and 45 GW by 2040. The government expects the cost of electricity from offshore wind projects to be around JPY8-9/kWh (US$7.7-8.7/kWh) over a 30-35-year period.
Read moreKazakhstan awards 148 MW of renewable capacity in auction
16 Dec 2020Kazakhstan has held an auction for 250 MW of installed capacity, including 120 MW of hydro, 65 MW of wind, 55 MW of solar PV and 10 MW of biogas. The power market operator KOREM selected 16 projects with a total capacity of 148 MW, including 65 MW of wind (lowest bid of KZT15.9/KWh, or US$3.8c/kWh), 60 MW of solar PV (lowest bid of KZT14.6/KWh, US$3.5c/kWh), and 23 MW of hydro (lowest bid of KZT13.5/KWh, US$3.2c/kWh). A total of 494 MW of projects participated in the bidding.
Read morePoland awards 1.7 GW of solar and wind capacity in oversubscribed auction
16 Dec 2020The Polish Energy Regulatory Office (URE) has announced the results of the tender for new wind and solar PV projects with an installed capacity of more than 1 MW that was held on 26 November 2020. The auction attracted 127 bids in total (64 bids for wind plants and 63 bids for PV installations) from 97 producers, offering 54.9 TWh (far exceeding the 46.3 TWh volume offered for sale). The parastatal selected 96 bis submitted by 70 producers totalling 42 TWh of electricity with a minimum price of PLN190/MWh (€42.8/MWh) and a maximum price of PLN249.9/MWh (€56.3/MWh).
Read moreChina unveils new carbon intensity target by 2030
15 Dec 2020China has pledged to lower its carbon intensity (i.e. CO2 emissions per unit of GDP) by more than 65% by 2030 from 2005 levels, compared to a previous target of reducing its carbon intensity by 60-65% by 2030. In addition, the country plans to raise the share of non-fossil fuels in primary energy consumption from around 20% to 25% by 2020, and to raise its total installed capacity of wind and solar power to over 1,200 GW. China will also increase the forest stock volume by 6 bcm from the 2005 level by 2030.
Read moreSpain launches a 3 GW renewable tender
15 Dec 2020The Spanish government has launched its first renewable energy auction under the new regulatory framework, which will auction 3 GW of renewable capacity, of which at least 1 GW of solar PV and 1 GW of offshore wind; the remaining 1 GW will be allocated to any technology without restrictions. The auction will take place on 26 January 2020. Winners will secure 12-year power purchase agreements (PPAs) for PV, solar thermal, onshore and offshore wind and hydropower, and 15-year PPAs for biomass, biogas and bio-liquid technologies.
Read moreCompanies
Drax sells 3.3 GW of CCGT power capacity in the UK to Vitol
16 Dec 2020The UK power group Drax has sold four CCGT power plants totalling 3.3 GW in the United Kingdom to Vitol, through its affiliate VPI Holding, for a total consideration of £193m (€214m), including £29m (€32m) of contingent consideration associated with the option to develop a new CCGT at Damhead Creek.
Read moreInfrastructure & Investments
Norway approves the 1.5 MtCO2/year Northern Lights CO2 storage project
16 Dec 2020The Norwegian government has approved the 1.5 MtCO2/year Northern Lights CO2 transport and storage project, developed by a consortium of Equinor, Shell and Total. In May 2020, partners decided to invest NOK6.9bn (€630m) in the Northern Lights carbon capture and storage (CCS) project in Norway. The project is developed as part of the Norwegian CCS project "Langskip"; supported by the Norwegian government. It will capture CO2 from industrial sources, transport it by ships and inject it to be permanently stored 2,600 metres below the seabed.
Read moreThe Baltic power synchronisation project receives €720m EU grant
16 Dec 2020The European Innovation and Networks Executive Agency (INEA) has signed a €720m grant agreement with the electricity transmission system operators of Estonia, Latvia, Lithuania and Poland for the Baltic Synchronisation Project. The three Baltic States, which are currently operating in a synchronous mode with the Russian and Belarusian systems, aim to synchronise their grid with the continental European network (CEN) by 2025.
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