Daily Energy News
Policy & Regulatory
South Korea’s updated NDC targets 24.4% GHG emissions cut by 2030
8 Jan 2021South Korea has updated its Nationally Determined Contribution (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). The updated target is to reduce the total national greenhouse gas (GHG) emissions by 24.4% by 2030, from their 2017 level (709.1 MtCO2eq), i.e. limiting national GHG emissions to 536 MtCO2eq by 2030. South Korea will use its Emissions Trading Scheme (ETS), which covers 73.5% of the national GHG emissions, to meet its target.
Read moreThe US conducts first oil and gas lease in the Arctic National Wildlife Refuge
8 Jan 2021The US administration has conducted the first oil and gas lease sale for the Coastal Plain of Alaska’s Arctic National Wildlife Refuge (ANWR), which is estimated to contain up to 11.8 Gbl of oil. The Bureau of Land Management (BLM) has received bids on half of the 22 tracts offered and 50% of the acreage. The Alaska Industrial Development and Export Authority (AIDEA) secured nine tracts, while small independent companies, Knik Arm Services and Regenerate Alaska, won two. The AIDEA plans to partner with oil companies to develop the leases it won in the auction.
Read moreTaiwan cuts feed-in tariffs for offshore wind projects by 8.5% in 2021
8 Jan 2021The Taiwanese Ministry of Economic Affairs has set feed-in tariffs (FiTs) for offshore wind projects signing 20-year power purchase agreements (PPAs) in 2021 at TWD4,656.8/MWh (US$166/MWh). This represents an 8.6% cut compared with the previous FiT rate set for 2020 (TWD5,094.6/MWh).
Read moreChina plans to launch its national ETS in February 2021
7 Jan 2021China plans to launch its national emissions trading scheme (ETS) in February 2021. Under the new rules, more than 2,200 companies above a cut-off point of 26,000 tCO2eq/year of greenhouse gas (GHG) emissions, equivalent to a consumption of 10,000 tce/year, can start trading their emission quotas from 1 February 2021. The first phase of the ETS will cover 2,267 coal-fired and gas-fired power plants.
Read moreCompanies
Engie sells a gas-fired power plant and a gas distributor in Turkey
8 Jan 2021Engie has agreed to sell its 775 MW Baymina gas-fired power plant near Ankara (Turkey) and Izgas, a gas distribution company in Kocaeli province, to the Turkish energy group Palmet Enerji for an undisclosed amount.
Read moreAES sells stake in 1.2 GW Mong Duong 2 coal-fired power plant (Vietnam)
7 Jan 2021The AES Corporation has signed an agreement to sell its entire stake in the 1,242 MW Mong Duong 2 coal-fired power plant in Vietnam to a consortium led by a US-based investor. AES is the majority shareholder with a 51% stake in the plant, in partnership with POSCO Power’s subsidiary PSC Energy Global (30%) and China Investment Corporation’s subsidiary Stable Investment Corporation (19%).
Read moreEnergy & Climate Markets
CO2-free generation accounted for 58% of the Belgian power mix in 2020
8 Jan 2021According to the Belgian power transmission system operator (TSO) Elia, the country’s electricity demand decreased by 7% in 2020 compared with the average for the previous five years. Wind and solar power generation in Belgium rose by 31% from 11.5 TWh to 15.1 TWh in 2020, accounting for nearly 19% of total production (8% from offshore wind, 5% from onshore wind and 5.3% from solar). Including nuclear (39% in 2020, down from 49% in 2019), CO2-free power generation accounted for 58% of the power mix in 2020.
Read moreInfrastructure & Investments
Polish TSO signs connection agreements for offshore wind projects
8 Jan 2021The Polish power transmission system operator PSE has concluded connection agreements with PGE, the developer of the Baltica offshore wind project, allowing the connection of the 1,498 MW Elektrownia Wiatrowa Baltica-2 offshore wind park by March 2028. The two other phases of the 3.4 GW Baltica project, 896 MW Baltica-1 and 1,045 MW Baltica-3 have already secured connection agreements. The Baltica-2 and 3 projects have secured environmental permit and are expected to be commissioned before 2030. Baltica 1 is due to come online after 2030.
Read moreGNA’s 1.3 GW LNG-to-power complex received its first cargo (Brazil)
8 Jan 2021Gas Natural Açu’s gas complex in the Port of Açu in Rio de Janeiro (Brazil) has received its first LNG cargo.
Read moreCGN starts building unit 1 of the San’ao nuclear power plant (China)
8 Jan 2021China General Nuclear (CGN) has started building the first unit of the San’ao nuclear power plant in the Zhejiang province of China. San’ao 1 will be the first of six Chinese-designed Hualong One pressurised water reactors (PWRs) planned for the site. The total installed capacity of the CNY120bn (US$18.6bn) project will reach 7.2 GW.
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