Daily Energy News
Policy & Regulatory
Denmark could miss its 2030 climate target
2 Mar 2021According to the Danish Council on Climate Change, Denmark’s current climate policies are insufficient to meet its 2030 greenhouse gas emissions targets. With the government’s current policy, the country would be on track to reduce CO2 emissions by 54% compared with 1990 levels, falling short of reducing them by 70% as planned. Denmark expects to cut 9 to 16.5 MtCO2eq by using new technologies such as carbon capture storage (CCS) and wind power generation to produce hydrogen, to be used by heavy industry, shipping, and air travel.
Read moreGermany launches a 958 MW offshore wind tender
1 Mar 2021The German Federal Network Agency has launched a tender for 958 MW of offshore wind capacity across three areas in the North and Baltic Seas. The regulator offers 658 MW in the German North Sea and 300 MW in the Baltic Sea, with a maximum value of bids at €73/MWh. Offshore wind project developers must submit their bids until 1 September 2021 and the offshore wind projects should be commissioned in 2026.
Read moreMexico passes a law to favour power utility CFE over private competitors
1 Mar 2021The Mexican lower house of congress has passed a bill that requires power grid operators to take power generated by state-owned power utility CFE in priority over private generators.
Read moreCompanies
Engie aims to sell its Jorge Lacerda coal-fired power plant in Brazil
2 Mar 2021Engie has entered into an exclusive agreement with Fram Capital for a period of 120 days for the sale of its 857 MW Jorge Lacerda coal-fired power plant located in Capivari de Baixo, in the south of Santa Catarina (southern Brazil).
Read moreMexico’s oil company Pemex posted a US$23bn loss in 2020
2 Mar 2021The Mexican national oil and gas company Pemex has released its 2020 results, posting a MXN480,966bn loss (US$23.2bn), i.e. 38% higher than 2019 losses. Most of the losses occurred in the Industrial Transformation, and Exploration and Production segments. The company produced, on average, 1,705 kb/d of oil in 2020, a stable level compared to 2019 (after years of constant decline), thanks to new fields entering production, and its oil extraction costs fell from US$14.06/bbl in 2019 to US$11.15/bbl in 2020.
Read moreEnergy & Climate Markets
Coal accounted for 56.8% of China’s energy consumption in 2020
2 Mar 2021According to the National Bureau of Statistics, China reduced its coal use to from 57.7% of energy consumption in 2019 to 56.8% in 2020. However, overall coal use has continued to increase in a context of record industrial production and of completion of coal-fired power plants, and has not peaked yet. The share of natural gas, hydropower, nuclear power and wind power increased by one percentage point to 24.3% of consumption.
Read morePakistan signs a 3 Mt/year LNG supply agreement with Qatar Petroleum
2 Mar 2021Pakistan, through Pakistan State Oil company, has signed a new ten-year agreement with Qatar Petroleum to import 3 Mt/year of LNG from Qatar starting in January 2022. Deliveries will start with on average two ships per month, to be increased to four ships in the next three years. The agreement, which replaces a 15-year contract with Qatar signed in 2015, has been signed at a 31% lower rate than the 2015 contract, enabling Pakistan to save around US$300m/year in LNG import costs. It includes a renegotiation option after 4 years (instead of 10 years).
Read moreInfrastructure & Investments
RWE’s 857 MW Triton Knoll offshore wind project produces first power (UK)
2 Mar 2021RWE’s 857 MW Triton Knoll offshore wind project, which is located off the Lincolnshire coast (United Kingdom), has produced first power. Commercial operations should start in early 2022. The project is jointly owned by RWE (59%, operator), J-Power (25%), and Kansai Electric Power (16%). Triton Knoll was awarded a Contract for Difference (CfD) in September 2017 by the UK Department for Business, Energy & Industrial Strategy (BEIS) at £74.75/MWh (€83.39/MWh) over 15 years.
Read moreEDF’s JV starts consultation for a 1.5 GW offshore wind project (Ireland)
2 Mar 2021Codling Wind Park, a 50:50 joint venture between EDF Renewables and Fred Olsen Renewables, has launched a public consultation for the 1,500 MW Codling offshore wind project, located off the coast of County Wicklow, between Greystones and Wicklow Town (Ireland). The project could enter construction in 2024 or 2025 after it received all necessary permissions and consents and construction should take two to three years to complete.
Read moreThe Akkuyu-3 nuclear power project enters construction (Turkey)
2 Mar 2021Turkey has officially started building the third unit of Akkuyu nuclear power plant, located in the Mersin Province (southern Turkey), on the Mediterranean coast. The project received a construction permit in November 2020. The Akkuyu Nuclear Power Plant will consist of four 1,200 MW VVER reactors for a total capacity of 4,800 MW. The first unit is expected to be commissioned in 2023 and the remaining three units in 2026.
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