Daily Energy News
Policy & Regulatory
European Parliament endorses plan to price carbon at EU’s border
16 Mar 2021The European Parliament has approved a resolution on a WTO-compatible EU carbon border adjustment mechanism (CBAM) to create a global level playing field as well as an incentive for both EU and non-EU industries to decarbonise in line with the Paris Agreement objectives.
Read moreSpain 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 moreCompanies
New Zealand’s renewable developer Tilt agrees on US$2.1bn takeover bid
16 Mar 2021Powering Australian Renewables (PowAR), a partnership between AGL, investment manager QIC and Australia’s sovereign wealth fund, will take over the Australian assets held by New Zealand’s renewable project developer Tilt Renewables. In addition, Mercury NZ, which already owns 19.9% of Tilt Renewables, will buy its New Zealand business, including 20 wind parks in operation or under development. Tilt Renewables has 836 MW of wind farms in operation and under commissioning in Australia and New Zealand, and over 3.5 GW of renewable projects in Australia.
Read moreRomania’s Delgaz will invest €225m by 2023 in its power distribution grid
16 Mar 2021Delgaz Grid, an affiliate of E.ON, plans to invest RON1.1bn (€225m) in 2020-2023 to upgrade its power distribution grid in Romania. The company will focus on further implementing SCADA and automation of the distribution system, SMART metering, modernizing overhead networks and substations, transformer replacements, and connecting new consumers to the grid. Around 327,000 smart meters were installed at the end of 2020. For the period 2021-2028, the company’s goal is to install another 387,000 smart meters.
Read moreShell sells a minority stake in 8.5 Mt/year QCLNG project (Australia)
16 Mar 2021Shell has closed the sale of a 26.25% stake in the 8.5 Mt/year Queensland Curtis LNG (QCLNG) export terminal in Australia to Global Infrastructure Partners Australia for a total consideration of US$2.5bn. The two parties agreed on the deal in December 2020. Shell will remain operator and will retain a majority stake (73.75%) in the overall project (CNOOC retains its 50% stake in Train 1 and Tokyo Gas its 2.5% stake in Train 2). The sale is in line with Shell’ strategy to raise US$4bn from asset sales.
Read moreDrax 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 moreEnergy & Climate Markets
Ghana intends to relocate the 250 MW Ameri gas-fired power plant to Kumasi
16 Mar 2021Ghana plans to relocate the 250 MW Ameri emergency gas-fired power project from Aboadze in the Western region to Kumasi in the Ashanti region to help stabilise the national power grid. In 2015, Ameri, a Dubai-based company, signed an US$510m agreement with the government to build a 250 MW gas-fired plant in Aboadze under a 5-year build-own-operate-transfer (BOOT) contract. The deal was later lowered to US$459m. The project entered commercial operations in 2016.
Read moreForecasts
Egypt aims to raise gas production by 9% to 74 bcm in 2021-22
16 Mar 2021Egypt intends to produce 7.2 bcf/d (over 74 bcm/year) of natural gas in the 2021-2022 financial year that starts in July 2021, up from an average production of 6.6 bcf/d (68 bcm/year) in the calendar year 2020. With an output of 69 bcm in 2019, Egypt was Africa’s second largest natural gas producer in 2019, after Algeria (91 bcm). However, most of the production (90%) is consumed domestically, especially in the energy sector (over 60%).
Read moreInfrastructure & Investments
Mexico’s CFE plans to tender 4.3 GW of gas-fired capacity
16 Mar 2021The Mexican power utility CFE plans to tender six new combined-cycle (CCGT) projects with a total capacity of 4,322 MW in strategic regions of the country. The projects will be developed based on a new contracting mechanism through the State-owned Master Investment Trust. They will be awarded through three packages, each with two CCGT power plant projects. The tender is open to national and international companies.
Read moreTenneT plans to invest €5-6bn/year in German and Dutch power grids
16 Mar 2021TenneT (100% owned by the Dutch state) intends to invest €5-6bn/year to prepare power transmission grids for renewable energy and increase connections in northern Europe. The company brings electricity to 42 million customers in the Netherlands and Germany. In 2020, Tennet invested €3.4bn in grids in both countries (+11.4%), including 62% in Germany. The company operates 23,500 km of high-voltage grids.
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