Daily Energy News
Policy & Regulatory
France’s GHG emissions declined by 1.7% in 2019 to 437 MtCO2eq
11 Feb 2021According to the CITEPA, France’s greenhouse gas (GHG) emissions reached 437 MtCO2 in 2019, a decrease of 1.7% compared to 2018. This represents a 19.7% decrease compared to 1990 and a 20.7% decrease compared to 2005 levels.
Read moreFrance awards 520 MW of onshore wind capacity in auction
10 Feb 2021The French Ministry for the Ecological Transition has selected 15 onshore wind power projects representing a total capacity of 520 MW at an average price of €59.5/MWh (-0.3% compared to the previous tender) in its AO7 auction held in November 2020. The 7th 500 MW onshore wind auction attracted 49 bids totalling 1,065 MW. The 226 MW Mont des 4 Faux project in Ardennes (north-eastern France), developed by EDF Renewables and Windvision, is among the winning projects. The final investment decision (FID) on the €250m project is expected in 2022.
Read moreChile promulgates a new bill on energy efficiency
10 Feb 2021The Chilean president has promulgated a bill on energy efficiency, which was approved by the National Congress of Chile in January 2021. The new law targets a reduction in energy intensity of 10% by 2030 compared to 2019, enabling to save 28.6 MtCO2 and US$15.2bn in energy bills. The text creates energy efficiency labels for homes and establishes energy efficiency standards for vehicles. In addition, large consumers with energy management capacity will have to cut their energy intensity by at least 4% over the period of the plan.
Read moreCompanies
Masdar buys a 50% stake in a 1.6 GW portfolio of US renewable projects
11 Feb 2021Masdar has achieved the first closing on the acquisition of a 50% stake in a 1.6 GW renewable project portfolio in the United States from EDF. As agreed in August 2020, Masdar has acquired an interest in five solar PV projects in California totalling 689 MW, two of which include BESS totalling 75 MW, and three utility-scale wind power plants in Nebraska and Texas totalling 815 MW.
Read moreCTG closes acquisition of the 572 MW Daylight solar park (Spain)
11 Feb 2021The Chinese state-owned power company China Three Gorges (CTG) has completed the acquisition of the Daylight solar PV power plant from Madrid-based renewables firm X-Elio. The project comprises 13 solar plants with a total capacity of 572 MW, located in Andalusia, Extremadura, Castilla La Mancha, Murcia and Castilla y León and were built in 2019-2020 and are fully operational. The two companies signed an agreement in August 2020.
Read moreEquinor (Norway) posts a US$5.5bn net loss in 2020
11 Feb 2021Equinor has posted a net loss of US$5.5bn (€4.5bn) in 2020 as the company was impacted by low oil and gas prices. The company produced 2,070 kboe/d (stable) in 2020, with 54% of oil and 46% of gas. With 5.26 billion barrels in proved reserves, Equinor’s reserves to production ratio (R/P) was 7.4 years. Its renewable generation reached 1.7 TWh (-5%).
Read moreRWE and PPC will create a JV to develop 2 GW of solar projects in Greece
11 Feb 2021The Greek state-owned power utility Public Power Corporation (PPC) will create a joint venture with RWE to develop solar PV projects with a total capacity of 2 GW in Greece. RWE would hold a 51% in the joint venture, and PPC the remaining 49% stake.
Read moreEnergy & Climate Markets
ExxonMobil plans to close its 90 kb/d Altona refinery in Australia
11 Feb 2021ExxonMobil has decided to close its 90,000 bbl/d Altona refinery in Victoria (south-eastern Australia), which is no longer considered economically viable, and convert it into an import terminal. The refinery started operations in 1949 and recently suffered from declining domestic crude oil production, competitive supply of products into Australia, and future capital investments.
Read moreInfrastructure & Investments
Ørsted will acquire a 50% stake in two offshore wind projects in Poland
11 Feb 2021The Polish energy group Polska Grupa Energetyczna (PGE) and the Danish energy group Ørsted have signed an agreement to create a 50:50 joint venture, which the objective to develop two offshore wind projects with a total capacity of 2.5 GW in the Polish Baltic Sea. As part of the agreement, Ørsted will buy a 50% stake in 1,498 MW Baltica 2 and 1,045 MW Baltica 3 for a total consideration of PLN657m (€146m).
Read morePapua New Guinea and Total sign fiscal terms for the Papua LNG project
11 Feb 2021The government of Papua New Guinea has signed a fiscal stability agreement with Total for the Papua LNG project. The new agreement keeps terms agreed in April 2019 unchanged.
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