Daily Energy News
Policy & Regulatory
Ireland targets 51% GHG emissions cut by 2030
25 Mar 2021The Irish government has approved the Climate Action and Low Carbon Development (Amendment) Bill, which sets a binding target of cutting greenhouse gas (GHG) emissions by 51% by 2030 compared to 2018, with the aim of reaching carbon neutrality by 2050. The government will adopt five-year carbon budgets detailing actions for each sector and local authorities will have to prepare five-year individual Climate Action Plans including both mitigation and adaptation measures.
Read moreThe United Kingdom plans a large-scale floating wind leasing round
25 Mar 2021The UK Crown Estate has started working on a new leasing round for early commercial-scale floating wind projects in the Celtic Sea, as part of the UK plans to reach 1 GW of floating wind capacity by 2030. The new leasing round will focus on projects of around 300 MW, which will be located in the waters around south Wales and the south-west.
Read moreNigeria plans to concession the 700 MW Zungeru hydropower project
25 Mar 2021The Nigerian Bureau of Public Enterprise plans to concession the 700 MW Zungeru hydropower plant by the end of 2021. The US$1.3bn project, which should produce 2.6 TWh/year of electricity, is expected to be fully operational in December 2021. Construction started in 2013 and the project is currently 87% complete.
Read moreThe UAE aims to raise energy efficiency by 40% by 2050
24 Mar 2021The United Arab Emirates has launched its national water and energy demand management programme, which aims at raising energy efficiency by 40% by 2050 and at increasing the renewable energy’s contribution to the energy mix to 50% by 2050. The energy efficiency programme will focus on the three most energy-intensive sectors, namely transport, industry and construction.
Read moreSlovenia proposes to phaseout coal by 2033
24 Mar 2021The Slovenian Ministry of Infrastructure has launched a public consultation of a draft national strategy to restructure the country’s coal regions, proposing to phaseout coal by 2033. Under two alternative scenarios presented in the strategy, coal exit could occur in 2038 (when the investment loan for the Šoštanj-6 coal-fired unit is repaid) or in 2042, which would result in significant mitigation measures to meet Slovenia’s climate commitments.
Read moreEnergy & Climate Markets
Japan’s NRA bans restart of TEPCO’s Kashiwazaki-Kariwa-7 nuclear reactor
25 Mar 2021The Japanese Nuclear Regulation Authority (NRA) has banned TEPCO from restarting the unit 7 1.3 GW) at its 8.2 GW Kashiwazaki-Kariwa nuclear plant in Niigata prefecture (Japan) for security reasons. According to the NRA, TEPCO has been unable to detect unauthorized access at 15 points because of equipment glitches since March 2020. The measure will be in place until the situation improves. TEPCO expected to restart the unit 7 in June 2021.
Read moreInfrastructure & Investments
Eneco receives approval for an 870 MW CCGT project in Belgium
25 Mar 2021Eneco has received a permit for the construction and operation of an 870 MW CCGT power plant in the Seneffe-Manage industrial estate in Wallonia (Belgium). The €500m project should switch to green hydrogen in the medium term, once sustainable hydrogen production and its storage and transport will be sufficient.
Read moreThe EIB lends €350m to build the Calvados offshore wind plant (France)
25 Mar 2021The European Investment Bank (EIB) has awarded a €350m credit line to a consortium made up of EDF Renouvelables, Enbridge and wpd to co-finance the construction of a 450 MW offshore wind power plant off the coast of Courseulles-sur-Mer in Calvados in the Normandy region (north-western France). This financing will be guaranteed by the European Fund for Strategic Investments.
Read moreAustralia’s Genex launches equity raise to fund its 250 MW K2 hydro project
25 Mar 2021Genex Power has launched an AUD115m (US$87m) equity raise to complete financing of the 250 MW K2 pumped-storage hydropower project in Kidston, Queensland (Australia). In August 2020, the Japanese power utility J-Power reached an AUD25m (US$19m) agreement with Genex Power to finance project. Under the agreement, J-Power is expected to acquire a 19.99% stake in Genex Power’s enlarged share capital. The Northern Australia Infrastructure Facility (NAIF) will also lend AUD610m (US$465m), while the Australian Renewable Energy Agency (ARENA) has approved AUD47m (US$35m) in grant funding.
Read moreInvenergy reaches financial close on its 1 GW Traverse wind project (US)
25 Mar 2021Invenergy has completed construction financing for the 999 MW Traverse wind project in the Custer, Blaine, and Kingfisher Counties of Oklahoma (United States). The wind power plant is developed by Invenergy for AEP as part of the 1,485 MW North Central wind complex, which represents a combined investment of US$2bn.
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