Daily Energy News
Policy & Regulatory
Spain awards 255 MW of solar capacity in Canary Islands
15 Mar 2021The Spanish Institute for Energy Diversification and Savings (IDAE) has selected 65 solar power projects in Canary islands with a total capacity of 255 MW under the SolCan aid program, which is co-financed by the European Regional Development Fund (ERDF). The initial quota was 150 MW. The solar projects, which must be operational before the end of 2022, will receive €20m in state support.
Read moreItaly aims at cutting its GHG emissions by 60% in 2030 compared to 1990
12 Mar 2021Italy intends to reduce its greenhouse gas (GHG) emissions by around 60% by 2030 compared to 1990 levels after using €80bn of EU funds for energy transition in the next five years. The country plans to add 40 GW of renewable capacity to accelerate decarbonisation by 2050.
Read moreVietnam’s installed capacity should increase by 145% in 2019-2030
12 Mar 2021According to a draft electricity plan released by the Vietnamese Ministry of Industry and Trade, Vietnam will need about US$320bn to develop its power sector in 2021-2045, including US$235bn for electricity and US$85bn for the grid. The supply of commercial electricity is forecast to reach 491 TWh in 2030 (+87% compared to 2019) and 877 TWh by 2045 (+265%).
Read moreCompanies
Drax plans to sell four gas-fired projects in the UK
15 Mar 2021Drax is considering selling four open-cycle gas turbine (OCGT) projects in the United Kingdom. The company has secured 15-year backup power agreements worth a total £230m (€270m) in a UK power capacity auction for three new 299 MW OCGT projects at sites in England and Wales. Development costs are estimated at £80-90m (€93-105m) each with a construction time of around 2 years.
Read moreFortum sells its district heating business in the Baltics for €800m
15 Mar 2021Fortum has agreed to sell its district heating business in the Baltics to Partners Group, a leading global private markets firm, for a total consideration of €800m. The company provides district heating in five cities, namely Tartu and Pärnu in Estonia, Daugavpils and Jelgava in Latvia and Klaipeda in Lithuania. In those cities Fortum also owns four CHP plants as well as a 49% share of the Kaunas CHP (commissioned in 2020) in Lithuania, through a joint venture. In 2020, Fortum’s sold 1.4 TWh of heat and 0.6 TWh of power in the Baltic countries.
Read moreRWE acquires a majority stake in the Rampion offshore wind plant (UK)
15 Mar 2021RWE has taken over a further 20% stake from E.ON in the 400 MW Rampion offshore wind power plant, located off the coast of Sussex (United Kingdom). The project, which was commissioned in April 2018, is now 50.1% owned by RWE. The remaining 49.9% stake in Rampion is held by a Macquarie-led consortium (25%) and the Canadian energy company Enbridge (24.9%). The transaction is expected to close in the first half of 2021.
Read moreEnergy & Climate Markets
US thermal coal exports decreased by a third in 2020
15 Mar 2021According to the US Energy Information Administration, US coal production, including coking coal, decreased by 24% in 2020 to 539 Mt, due to the global decline in coal demand that was accelerated by the COVID-19 pandemic during 2020. In addition, some US coal mines were idled for extended periods to slow the spread of the virus. Total exports dropped by 26% to 69 Mt, i.e. 13% of total production (as in 2019), and US thermal coal exports declined by 34% to 27 Mt in 2020.
Read moreInfrastructure & Investments
Poland allows PGE, Ørsted, Orlen and Northland Power to form offshore wind JVs
15 Mar 2021The Polish Office of Competition and Consumer Protection (UOKiK) has approved the creation of a 50:50 joint venture (JV) between Polska Grupa Energetyczna (PGE) and Ørsted to develop and build the 1,045 MW Baltica 3 and 1,498 MW Baltica 2 projects. The two projects, which are eligible to be included in Poland’s 2021 offshore wind allocation round, have already secured environmental permits and connection agreements and should be commissioned before 2030.
Read moreThe EIB support 863 MW of renewables project across Europe
15 Mar 2021The European Investment Bank has set aside €688m to harness renewables across Europe as part of a €3.7bn COVID-19 business support.
Read moreSoltec starts building 225 MW of solar capacity in Brazil
15 Mar 2021Powertis, an affiliate of Spain’s solar company Soltec, has started building two solar PV plants in Brazil with a total capacity of 225 MW. The projects, rated 112.5 MW each, are located in Pedranópolis (São Paulo) and Araxá (Minas Gerais). The Brazilian Development Bank (BNDES) has awarded a BRL385m (US$70m) financing for the two PV plants.
Powertis is developing more than 2 GW of solar projects in Brazil, 2 GW in Spain and over 1 GW in Italy.
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