Daily Energy News
Policy & Regulatory
Thor offshore wind project (Denmark) cleared under EU state aid rules
3 Mar 2021The European Commission has approved Denmark’s support for the Thor offshore wind project, which will be located in the Danish part of the North Sea, under EU state aid rules. Denmark had approved an aid measure with a total maximum budget of DKK6.5bn (€870m), to support the design, construction and operation of the 800-1,000 M offshore wind project and of associated substation and grid connection.
Read moreUK National Grid approves price control proposed by Ofgem
3 Mar 2021The UK power transmission system operator (TSO) National Grid has accepted a price control proposal from the national energy regulator Ofgem, which should take effect from April 2021.The company will invest around £10bn (€11.6bn) in its power transmission network by 2026. However, National Grid will appeal to the Competition and Markets Authority (CMA) regarding Ofgem’s proposal to reduce the rate of return for network companies to 4.3%; National Grid previously suggested to limit the rate of return to 5.6%.
Read moreDenmark 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 moreCompanies
China’s State Grid unveils carbon neutrality action plan
3 Mar 2021The State Grid Corporation of China has unveiled its carbon neutrality action plan, which intends to step up the development of clean energy infrastructure, including wind, solar and hydropower for generating electricity, in order to reach 50% of "clean" electricity in transmitted volumes by 2025. State Grid expects wind and solar installed capacity to hit 1,000 GW by 2030, while hydropower capacity could attain 280 GW and nuclear capacity 80 GW by 2030.
Read moreBPCL will sell its stake in the 600 kb/d Numaligarh refinery (India)
3 Mar 2021The Indian oil company Bharat Petroleum Corporation Limited (BPCL) will sell its 61.65% stake in Numaligarh Refinery Ltd (NRL), the operator of the 3 Mt/year (60,000 bbl/d) Numaligarh refinery in Assam (eastern India) to a consortium of IndianOil, Engineers India and the state government of Assam. The transaction is subject to the approval from BPCL’s shareholders.
Read moreEngie 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 moreInfrastructure & Investments
Equatorial Guinea’s Alen Gas Monetisation Project produces first gas
3 Mar 2021Chevron, through its affiliate Noble Energy, has achieved first gas flow from the Alen Gas Monetisation Project in Equatorial Guinea. The project includes a 70 km pipeline with a capacity of 950 mcf/d of natural gas (27 mcm/d or 9.9 bcm/year) that allows gas from the Alen field, located in the Douala Basin offshore Equatorial Guinea, to be processed at the Alba Plant and the Equatorial Guinea LNG Plant in Punta Europa on Bioko Island. The project is expected to strengthen the position of Equatorial Guinea as a key player in Africa’s oil and gas industry.
Read moreEletronuclear launches tender for Angra 3 nuclear power project (Brazil)
3 Mar 2021The Brazilian state-owned nuclear company Eletronuclear (part of the Eletrobras group) has officially launched a tender for civil works at the 1,245 MW Angra 3 nuclear project in Brazil. The company plans to select a contractor to continue work at the site in 2022. In October 2019, China’s National Nuclear Corporation (CNNC), EDF (France) and Rosatom (Russia) were shortlisted as a potential partner.
Read moreSuper Energy commissions a 350 MW solar PV project in Vietnam
3 Mar 2021Super Energy, a Thailand-based energy group, has commissioned a 350 MW solar PV power plant in the Loc Ninh County, in Binh Phuoc Province (Vietnam). The power plant, which is supported by a feed-in tariff of US$7.1c/kWh, will produce 700 GWh/year.
Read moreSenegal’s 120 MW Malicounda CCGT power project receives a US$92m loan
3 Mar 2021Africa50 and Oragroup have implemented a XOF50bn (US$92m) syndicated loan to complete the 120 MW Malicounda gas-fired CCGT power project in Senegal, which is owned by Melec Powergen (MPG), Africa50, and the national electricity company Senelec. Construction of the XOF100bn (US$184m) project started in October 2019 and commissioning is scheduled in 2021. It is expected to produce over 950 GWh/year, that will be sold to Senelec under a 20-year power purchase agreement (PPA).
Read more
No Comment