Daily Energy News
Policy & Regulatory
China plans to increase its nuclear capacity by 40% over 2021-2025
8 Mar 2021China has released its 14th Five-Year Plan covering the 2021-2025 period and announced its aim to increase its nuclear power capacity by 40% from 50 GW in 2020 to 70 GW in 2025. In addition, the country intends to get 20% of its total energy consumption from non-fossil fuels by 2025 (15.9% in 2020). China also intends to reduce its energy intensity (i.e. energy use per unit of GDP) by 13.5% and its carbon intensity (i.e. CO2 emissions per unit of GDP) by 18% over the 2021-2025 period.
Read moreGermany will pay €2.4bn in compensation for early closure of nuclear plants
8 Mar 2021The federal government of Germany has agreed to pay €2,428m to Vattenfall, RWE, E.ON, and EnBW in compensation for the early closure of their nuclear power plants in response to the Fukushima disaster in March 2011 and the settlement of all related legal disputes. Vattenfall will receive €1,425m, RWE €880m, EnBW €80m and E.ON €42.5m respectively.
Read moreIndia’s SECI initiates tender for 1,785 MW of solar capacity in Rajasthan
8 Mar 2021The Solar Energy Corporation of India (SECI) has launched a Request for Selection (RfS) to develop an aggregate 1,785 MW of grid-connected solar PV capacity in Rajasthan (northern India). Bidding for the Tranche-IV tender closes on 19 Avril 2021. The successful projects, which are to be developed on a build-own-operate (BOO) basis in minimum sizes of 10 MW, will have to be completed within 18 months and will sign 25-year power purchase agreements (PPAs) with SECI.
Read moreOPEC+ keeps oil production target for April 2021 broadly unchanged
5 Mar 2021The OPEC+ has agreed to a continuation of the production levels of March 2021 – when the production cut reached 8.05 mb/d – in April 2021 for most member countries. However, Russia and Kazakhstan will be allowed to increase their crude oil production by 130 kb/d and 20 kb/d, respectively. The two countries were already authorised to raise their output by a combined 75 kb/d in February 2021 and a further 75 kb/d in March 2021. On the contrary, Saudi Arabia pledged to extend in April 2021 the voluntary oil output cuts of 1 mb/d that started in February 2021.
Read moreTurkey will tender 1 GW of solar capacity in March 2021
5 Mar 2021Turkey has decided to hold 74 solar mini tenders under its Renewable Energy Resources Zones (YEKA) scheme between 8 and 12 March 2021. It will offer a total capacity 1,000 MW spread across 36 different regions over a five-day period. Bidders will have to submit an offer for at least 20 MW, at a ceiling price of TRY0.35/kWh (€3.89c/kWh). Winners will sign 15-year power purchase agreements (PPAs) with the state. The tenders are expected to raise US$1bn in investments.
Read moreCompanies
CIP will sell a 49% stake in 487 MW of Spanish wind projects
8 Mar 2021Copenhagen Infrastructure Partners (CIP) has entered into an agreement to divest a 49% stake in the Monegros wind portfolio, consisting of 12 onshore wind power plants with a total installed capacity of 487 MW in Aragon (northern Spain), to a fund managed by Arjun Infrastructure Partners (Arjun). The projects are under construction and nearing completion. They will sell their power generation under a long term power purchase agreement (PPA).
Read moreInfrastructure & Investments
Bangladesh’s Beximco will emit a sukuk to fund 230 MW solar projects
8 Mar 2021The Bangladeshi conglomerate Beximco will issue a BDT30bn (US$355m) sukuk (i.e a sharia-compliant bond-like placement) to fund two solar projects of 200 MW and 30 MW in Bangladesh. The solar power plants are developed by two affiliates of Beximco, Teesta Solar and Korotoa Solar, alongside Chinese companies TBEA Xinjiang Sunoasis and Jiangsu Zhongtian Technology. Beximco will also use a portion of the funds to expand its textile division.
Read moreTilt Renewables commissions a 133 MW wind power plant in New Zealand
8 Mar 2021Tilt Renewables has completed the 133 MW Waipipi wind project located near Waverley in South Taranaki, New Zealand. The wind power plant consists of 31 wind turbines rated 4.3 MW each and will produce on average 455 GWh/year.
Read moreBC Hydro’s 1.1 GW Site C hydro project delayed to 2025 (Canada)
8 Mar 2021British Columbia (western Canada) remains committed to BC Hydro’s 1,100 MW Site C hydropower project, which entails a dam and a 1,100 MW hydropower plant. The project, which is now expected to cost CAD16bn (US$12.6bn) due to geotechnical issues, delays and the COVID-19 pandemic, is half complete and should be commissioned by 2025, a year behind schedule.
Read moreGTT will build six additional LNG storage tanks in Tianjin (China)
8 Mar 2021GTT has signed a new cooperation agreement with Beijing Gas Group related to the Tianjin Nangang LNG terminal, which is currently under construction in Nangang district, Tianjin north-eastern China). As part of the deal, GTT will build six additional 220,000 m3 LNG storage tanks, on top of the two 220,000 m3 LNG storage tanks that were ordered to GTT in June 2020.
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