Daily Energy News
Policy & Regulatory
Lebanon unveils its updated Nationally Determined Contribution
17 Mar 2021Lebanon has updated its 2015 Nationally Determined Contribution (NDC). The country intends to unconditionally increase its greenhouse gas (GHG) emission reduction target relative to the Business-as-Usual (BAU) scenario from 15% to 20%, and conditionally increase its GHG emission reduction target relative to the BAU scenario from 30% to 31%. In addition, Lebanon pledges to unconditionally generate 18% of its power demand and 11% of its heat demand (in the building sector) from renewable energy sources in 2030, compared to a combined 15% in 2015.
Read moreEuropean 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 moreCompanies
RWE’s renewable power generation surged by 71% in 2020 (Germany)
17 Mar 2021RWE has released its 2020 results, posting a net income of €995m (-88%); adjusted net income reached €1.2bn. The company’s power generation decreased by 4% in 2020 to 147 TWh, of which 34% was generated from natural gas and 30% from lignite and hard coal. Renewables accounted for 22% (including pumped-storage hydropower and biomass) and nuclear for 14 %.
Read moreNew 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 moreEnergy & Climate Markets
India has reached 93 GW of renewable capacity (excluding hydro)
17 Mar 2021According to the Indian Ministry of Power and New Renewable Energy, India has 93 GW of renewable capacity (excluding large hydropower), as of February 2021, including around 39 GW each of solar and wind capacity, 10 GW of bio-power and 4.8 GW of small hydropower. In addition, over 50 GW of renewable projects are under various stages of implementation and 27 GW are under various stages of bidding.
Read moreRenewables accounted for 16.1% of South Africa’s power mix in 2020
17 Mar 2021South Africa’s system demand for electricity decreased by 5.1% in 2020, according to the Council for Scientific and Industrial Research (CSIR). Reduced demand in 2020 was met mostly by reduced coal (-5%), nuclear (-15%), and diesel and gas (-10%), while others energy source increased production, particularly solar PV (+25%) and pumped-storage (+7%). The electricity mix remains dominated by coal-fired power generation which contributed 83.5% to system demand in 2020, followed by renewables (including hydropower, 16.1%) and nuclear (5.2%).
Read moreUS LNG exports increased by almost a third in 2020 to 67 bcm
17 Mar 2021According to the US Energy Information Administration (EIA), US LNG export increased by 31% to 67 bcm in 2020. LNG exports to Asia increased by 67% to 31.9 bcm (48% of total exports), surpassing Europe in terms of destination, and accounting for nearly half of US LNG exports. Exports to China averaged 6.2 bcm, after China reduced its tariffs on US LNG imports from 25% to 10%. US LNG exports to Europe increased by 32% to 25.8 bcm, i.e., 39% to total US LNG exports.
Read moreInfrastructure & Investments
Senegal should start its first LNG-to-power project in June 2021
17 Mar 2021Sembcorp Marine has delivered a floating storage regasification unit (FSRU), called KARMOL LNGT Powership Africa, to KARMOL, a joint venture between Karpowership and Mitsui OSK Lines, for its LNG supply project in Senegal.
Read moreThe AfDB finances a 400 kV power transmission line in Angola
17 Mar 2021The African Development Bank (AfDB) has pledged US$530m to finance the construction of a 343 km, 400 kV power transmission line that will connect the north and south transmission grids in Angola. The financing package, approved in December 2019, includes US$480m in financing from the AfDB, along with US$50m from the Africa Growing Together Fund, a US$2bn facility sponsored by the People’s Bank of China and administered by the AfDB.
Read moreJERA starts approval process for a 1.3 GW gas-fired power project (Japan)
17 Mar 2021JERA has submitted the Environmental Impact Assessment Scoping Document for two new 650 MW CCGT units (units 7 and 8) at its Chita power plant in Aichi prefecture (Japan) to the Ministry of Economy, Trade, and Industry (MITI) of Japan, the Governor of Aichi Prefecture, the Mayor of Chita City, and the Mayor of Tokai City.
Read more
No Comment