Daily Energy News
Policy & Regulatory
Germany amends its EEG 2021 to support 2030 targets
18 Dec 2020The Bundestag has passed the amendment to the Renewable Energy Sources Act (EEG 2021), which intends to raise the share of renewable energies in gross electricity consumption to 65% by 2030. In addition, the amendment introduces a legally binding goal of greenhouse gas (GHG) neutrality before 2050 for the electricity generated and consumed in Germany. The text also comprises annual quotas for solar, biomass, and onshore and offshore wind, which are to be regularly checked in each of Germany’s 16 federal states.
Read moreSpain plans to reform its renewable energy surcharge
18 Dec 2020The Spanish Council of Ministers has presented a draft law to create a National Fund for the Sustainability of the Electric System (FNSSE), which would support the costs associated with the specific remuneration regime for renewables, cogeneration and waste (RECORE). The FNSSE is expected to avoid electricity price increases, to give clear signs of electrification of the economy, and to provide the certainty, sustainability and balance to the system to boost investments.
Read moreThe European Union bans nuclear, fossil fuels from Just Transition Fund
18 Dec 2020The European Council has excluded financing for nuclear or fossil projects from the Just Transition Fund, which will assist EU countries in accelerating the transition towards climate neutrality. The Just Transition Fund, which will have €17.5bn from both a coronavirus recovery fund and the EU’s budget for 2021-27, is expected to help coal-reliant countries to decarbonise their power sector and attract further private sector cash to support green industries and retrain workers from polluting sectors.
Read moreThe European Commission approves Estonia’s new renewable support scheme
18 Dec 2020The European Commission has approved, under EU State aid rules, the modification of the existing aid scheme to support renewable power generation and efficient co-generation in Estonia, considering that this scheme will help the country reach its carbon neutrality target by 2050 without distorting competition. The new modified scheme, with a budget of around €450m, replaces the existing one that is due to expire at the end of 2020.
Read moreThe EU plans to exclude oil and gas projects from infrastructure funding
17 Dec 2020The European Commission has proposed to revise TEN-E Regulation, which governs cross-border energy infrastructure planning and help implement projects of common interest (PCIs), to focus on the upgraded 2030 climate and energy targets and the 2050 climate neutrality objective under the European Green Deal. The proposal aims to exclude dedicated oil and gas infrastructure from the rules, which means that oil and gas infrastructure projects would no longer be eligible for PCI status.
Read moreThe UK launches consultation on accelerating coal exit by 1 year to 2024
17 Dec 2020The British government has launched a consultation on bringing forward the deadline for phasing out coal from the country’s energy system by one year, from October 2025 to 1 October 2024. In January 2018, the British Department for Business, Energy and Industrial Strategy (BEIS) unveiled a phase-out plan for its eight-remaining coal-fired power plants.
Read moreCompanies
EDP completes the sale of 6 hydropower plants (1.7 GW) in Portugal
18 Dec 2020EDP has completed the sale of 6 large hydropower plants totalling 1.7 GW in the Douro river basin in Portugal to a consortium of Engie (40%), Crédit Agricole Assurances (35%) and Mirova – Natixis Group (25%) for €2.2bn.
Read moreInfrastructure & Investments
Angola fully commissions the 2 GW Laúca hydropower project
18 Dec 2020The government of Angola has fully commissioned the 2,004 MW Laúca hydropower project, which produced first power in June 2019. The facility entails six turbines with an installed capacity of 334 MW each, provided by the Austrian plant engineering group Andritz, and an additional auxiliary generation turbine will be added in 2021.
Read morePNE plans a 2 GW offshore wind project in Vietnam
18 Dec 2020The German company PNE plans to invest US$4.8bn to develop a 2 GW offshore wind project in the Phu Cat and Phu My districts of the Binh Dinh province, the South Central Coast region of Vietnam. The project will be implemented in three phases. The first 700 MW phase would cost US$1.6bn and is expected to enter construction in 2024.
Read moreEleris Energy plans to develop 2.2 GW of solar capacity in Bangladesh
18 Dec 2020Eleris Energy, an US infrastructure group, plans to develop three solar projects, totalling 2.2 GW, and an LNG import project in Bangladesh. The company plans to implement two 600 MW solar projects under joint ventures with state-owned power utilities Bangladesh Power Development Board (BPDB) and Ashuganj Power Station Company Ltd (APSCL); the projects would be located in Chattogram and would be developed in three phases of 200 MW each, on a build, own and operate (BOO) basis.
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