Daily Energy News
Policy & Regulatory
Denmark approves a 3 GW offshore wind hub in the North Sea
5 Feb 2021The Danish coalition government has approved the creation of a 3 GW offshore wind energy island located 80 km from the shore of Jutland. It could be expanded to a capacity of 10 GW at a later stage, for a total investment of DKK 210bn (€28bn). The project will be developed under a public-private partnership between the Danish state, which will own the majority of the island, and private companies. The country intends to build another offshore wind hub on the Danish Baltic island of Bornholm.
Read moreGermany targets 28% of renewables in transport sector by 2030
5 Feb 2021The German government has decided to raise the share of renewable energies in the transport sector to 28% by 2030, which is twice as high as the EU goal of 14%. In addition, the greenhouse gas (GHG) emission reduction quota, which obliges suppliers of petroleum products to reduce emissions from their fuel by using climate-friendly energy products, will rise from 6% in 2021 to 10% by 2026, 14.5% in 2028 and 22% in 2030.
Read moreAndhra Pradesh’s tender for 6.4 GW of solar was oversubscribed (India)
5 Feb 2021Andhra Pradesh (south-eastern India) has received bids for a total capacity of 14.9 GW for its tender for 6.4 GW of grid-connected solar projects. The state-government granted 300 MW to Torrent Power, which quoted the lowest tariff of INR2.47/kWh (US$3.4c/kWh), 3 GW to Adani Green across five locations (600 MW each), 2.2 GW to Shirdi Sai Electricals, 600 MW to NTPC and 300 MW to HES Infra.
Read moreUzbekistan pledges to reach carbon neutrality by 2050
5 Feb 2021The Ministry of Energy of Uzbekistan has signed a Memorandum of Understanding with the European Bank for Reconstruction and Development (EBRD) to cooperate towards achieving carbon neutrality by 2050.
Read morePoland adopts its new energy policy until 2040
4 Feb 2021The Council of Ministers of Poland has approved Poland’s energy policy until 2040, which aims to shift its power mix to less emitting energy sources and will limit the share of coal in electricity production to 56% in 2030.
Read moreIndia unveils a 5-year US$42bn plan to reduce power grids’ T&D losses
4 Feb 2021The Indian government has unveiled an INR3,050bn (US$42bn) electricity distribution reform program to help reduce losses and improve the efficiency of electricity distribution companies (discoms) over the next 5-year period. The scheme proposes to upgrade supply systems, installs prepaid meters and separate supply lines from subsidised and non-subsidised customers. Around 20% of the spending plan will be funded by the Union Budget of India, and the rest will be raised from international financial institutions, such as the Asian Development Bank (ADB) and the World Bank.
Read moreCompanies
The Carlyle Group agrees to take over Switzerland’s only oil refinery (68 kb/d)
5 Feb 2021The Carlyle Group has agreed to increase its stake in Varo Energy from 33% to 66%, as Reggeborgh divested from the company. Vitol group retains the remaining 33% stake. The transaction is subject to regulatory approvals. Varo Energy has managed the 68,000 bbl/d Cressier refinery in Switzerland since acquiring it from Petroplus in 2012, and it owns a 51.4% stake in the 215,000 bbl/d Bayernoil refinery in Germany.
Read moreChina’s CNOOC increased its oil and gas production by 5% in 2020
5 Feb 2021The Chinese state-owned oil and gas company CNOOC produced 528 mboe of oil and gas in 2020, i.e. +5% compared with 2019 and in line with an earlier target of 520-530 mboe. Domestic production accounted for 64% of total production but the group plans to raise this share to 68% in 2021. The group aims to increase its output to 545-555 mboe in 2021, 590-600 mboe in 2022 and 640-650 mboe in 2023. CNOOC plans to invest CNY90-100bn (US$13.9-15.5bn) in 2021, with 61% for development, 20% for production and 17% for exploration.
Read moreVattenfall’s power generation declined by 13% in 2020 (Sweden)
5 Feb 2021The Swedish energy group Vattenfall has released its 2020 results, announcing a 13% drop in power generation in 2020 to 113 TWh. Its Power Generation business unit (conventional production from hydropower and nuclear) posted a 11% decrease in power generation in 2020 to 79 TWh, due to a 26% decline in nuclear power generation (down to 39 TWh) that was partly offset by a 11% increase in hydropower generation (up to 40 TWh). Vattenfall’s wind power generation rose by 10% to 11 TWh, as the installed wind capacity exceeded 3.5 GW (+231 MW).
Read moreInfrastructure & Investments
ATCO will buy a 325 MW pumped-storage hydro project in Australia
5 Feb 2021Canada-based gas group ATCO has reached an agreement with Altura Group to acquire the rights to develop the 325 MW Central West pumped-storage hydropower project near Yetholme in Central West New South Wales (Australia). The project is currently in the development phase. Construction is expected to start in 2023 and commissioning is scheduled in 2025.
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