Daily Energy News
Policy & Regulatory
The United States and Canada target net-zero emissions by 2050
25 Feb 2021The United States and Canada have agreed to work towards achieving net zero emissions by 2050, also reaffirming their shared commitment to cutting oil and gas methane emissions. The United States, which has just re-entered the Paris agreement on climate change after having officially withdrawn in November 2020, aims to achieve a net-zero carbon pollution free power sector by 2035, while Canada reaffirmed its goal to achieve 90% non-emitting electricity by 2030.
Read moreFrance awards 452 MW of solar PV capacity
24 Feb 2021The French Energy Regulatory Commission has selected 69 PV projects representing a total capacity of 452 MW. In the first category, which comprises ground-mounted PV projects exceeding 5 MW in size, the CRE allocated 216 MW (less than the proposed quota of 400 MW), at an average final price of €5.33c/kWh. In the second category, including ground-mounted PV projects with a capacity between 500 kW and 5 MW, the allocated capacity was 120 MW (for a quota of 170 MW) and the final average price stood at €6.22c/kWh.
Read moreCompanies
Indian renewable firm ReNew will merge with RMG
25 Feb 2021The Indian renewable energy company ReNew Power has entered into an agreement to merge with RMG Acquisition Corporation II. The transaction is expected to close in the second quarter of 2021. The merged entity, which is valued at US$8bn, will be listed on the NASDAQ. Founded in 2011, ReNew has an aggregate capacity of close to 10 GW (including capacity already won in competitive bids), with a portfolio of more than 100 operational wind and solar energy projects spread across 9 Indian states (over 5 GW).
Read moreExelon (US) will separate its regulated and competitive businesses
25 Feb 2021The US energy group Exelon plans to separate its regulated electric and gas activities from its competitive activities into two publicly traded companies, in order to give each company the strategic and financial independence to focus on its core business strategy.
Read moreSpain’s Iberdrola added 4 GW of renewable capacity in 2020
25 Feb 2021The Spanish energy group Iberdrola has released its 2020 results, posting a €3.6bn net profit (+4.2%). The company invested €9.2bn in 2020 (+13%), with 91% allocated to the development of new renewable power projects and to electricity networks. In 2020, the group’s net capacity (including the net installed capacity for third parties) grew by 3 GW to over 55 GW, including 35 GW of renewable power capacity.
Read moreChina’s CTG will acquire a 330 MW wind power portfolio in Spain
24 Feb 2021The Chinese state-owned power group China Three Gorges (CTG) has signed an agreement with a consortium led by Corporacion Masaveu to acquire a 330 MW portfolio of wind power plants in Spain for €500m. The portfolio includes eight wind parks owned by Borawind in the Burgos region, north of Madrid.
Read moreEnergy & Climate Markets
France’s installed renewable capacity rose by 2 GW to 55.9 GW in 2020
25 Feb 2021According to the French Renewable Energy Association, France’s installed renewable capacity, including hydropower, increased by more than 2 GW in 2020 (+1,105 MW of wind and +820 MW of solar) and reached 55.9 GW at the end of 2020. Hydropower capacity accounting for over half of the capacity, with 25.7 GW, followed by wind (17.6 GW), solar (10.4 GW) and bio-energies (2.2 GW). Renewable accounted for 26.9% of electricity consumption in mainland France in 2020, compared to 23.1% in 2019.
Read moreSpain added 1.7 GW of wind capacity in 2020
25 Feb 2021According to the Spanish wind association Asociación Empresarial Eólica (AEE), Spain’s installed wind capacity increased by 1,720 MW in 2020 and reached 27,446 MW at the end of 2020. In 2020, the autonomous communities with the largest wind capacity additions were Aragón (+1,051 MW to 4,159 MW), followed by Navarra (+263 MW to 1,302 MW), Castilla y León (+216 MW to 6,300 MW), Castilla La Mancha (+65 MW to 3,885 MW), Canary Islands (+29 MW to 450 MW), Andalusia (+24 MW to 3,478 MW) and Galicia (+24 MW to 3,829 MW).
Read moreInfrastructure & Investments
Meridian Energy plans a 176 MW wind power plant in New Zealand
25 Feb 2021Meridian Energy plans to build a 176 MW wind project worth NZD395m (US$293m) in New Zealand. The Harapaki power plant, located in Hawke’s Bay, will comprise 41 turbines supplied by Siemens Gamesa. Construction is expected to start soon and the project would be completed in 3 years (commissioning in 2024).
Wind accounts for 7% of New Zealand’s installed capacity with 690 MW.
Read moreSolar Philippines plans a 2 GW solar project in Batangas (Philippines)
25 Feb 2021Solar Philippines has submitted a proposal to the Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) of the Philippines for its Batangas 3 Solar Baseload Plant in Nasugbu, Batangas. The solar plant would have a capacity of 2,000 MW and would include a 6,000 MWh battery energy storage system (BESS). In addition, the project would comprise a 600 MW diesel backup. The company aims to start construction in the fourth quarter of 2022 and to complete the project in the fourth quarter of 2024.
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