Daily Energy News
Policy & Regulatory
Croatia releases a new low-carbon development strategy
8 Jun 2021
Croatia has unveiled a new low-carbon development strategy. The country foresees a reduction of greenhouse gas (GHG) emission from the 1990 level under two scenarios. The first scenario, which considers a 33.5% reduction in GHG emissions by 2030 and a 56.8% reduction by 2050, would allow Croatia to fulfil its pledge to reach the level set for sectors outside the EU Emissions Trading System (ETS) by 2030.
Romania pledges to exit coal at the latest by 2032
7 Jun 2021
Romania has committed to exit coal in 2032 at the latest, according to the country’s National Recovery and Resilience Plan (PNRR). Coal accounts for around 15% of Romania’s installed capacity, with 3.2 GW (end of 2020). A law to address the closure of mines and adopt measures to support coal regions should be passed by mid-2022. The state-owned power utility CE Oltenia might close 5 of its 9 coal mines in 2026. By this date, the country is also expected to convert 1.3 GW of coal capacity to natural gas (including a mix of gas and hydrogen) or high efficiency cogeneration.
Indonesia plans to add 20 GW of renewable capacity by 2030
7 Jun 2021
Indonesia aims to raise the share of renewables in its draft 2021-2030 national electricity plan to at least 48% or almost 20 GW. The 2019-2028 plan targeted 30% of renewables. The national electricity supply plan (RUPTL) is a 10-year policy document set by the authorities for the state-owned power utility PT Perusahaan Listrik Negara (PLN); the draft RUPTL is expected to be completed by the end of June 2021. Over the next decade, the country plans to add 41 GW of new capacity, including nearly 19.9 GW of renewable capacity.
Companies
China Three Gorges Renewables raises US$3.6bn through an IPO
8 Jun 2021
The initial public offering (IPO) of China Three Gorges Renewables, an affiliate of China Three Gorges Corporation, was oversubscribed 190 times, which has led it to allocate more shares to this portion. China Tree Gorges Renewables, which will be listed at the Shanghai Stock Exchange, sold 8.6 billion shares at CNY2.7 (US$42c) each, allowing the company to raise up to CNY22.7bn (US$3.6bn). The group plans to use the proceeds from the sale to finance seven offshore wind plants with a total capacity of 2.5 GW.
Energy & Climate Markets
DTE Energy retires an 840 MW coal-fired power plant (United States)
8 Jun 2021
DTE Energy has decommissioned the 840 MW River Rouge coal-fired power plant in southeast Michigan (United States). The power plant entered commercial operation in 1958 with two generating units of 260 MW each and a third at 320 MW.
Turkey discovers a new field with 135 bcm of natural gas
8 Jun 2021
Turkish Petroleum has discovered 135 bcm of natural gas reserves in the Amasra-1 borehole in the Sakarya gas field in the Black Sea, where the national state-owned oil company has been carrying exploration activities. The field is expected to enter production in 2023 with an average production of 5-10 bcm/year, with production ramping up until 2025, when it should reach a plateau output of 15 bcm/year; sustained plateau production should start in 2027 or 2028.
Forecasts
Pakistan’s installed capacity may rise by over 40% to 57 GW in 2030
8 Jun 2021
Pakistan will have to increase its power generation capacity to 57 GW by 2030, according to the Indicative Generation Capacity Expansion Plan (IGCEP) 2020, prepared by the National Transmission and Dispatch Company. Consequently, the country will have to invest around US$32bn by 2030 to develop new power projects.
Infrastructure & Investments
The 950 MW Moray East offshore wind project starts producing power (UK)
8 Jun 2021
The 950 MW Moray East offshore wind project off the coast of Scotland (United Kingdom) has delivered first power to the National Grid. The project, which will comprise 100 MHI Vestas 9.5 MW turbines, is being developed by Moray Offshore Windfarm East Ltd (MOWEL), a joint venture company owned by Ocean Winds (a joint venture of EDPR and ENGIE, 56.6%), Diamond Green Limited (33.4%) and China Three Gorges (CTG, 10%).
Ghana plans to expand its gas processing capacity to 2.5 bcm/year
8 Jun 2021
Ghana Gas plans to raise its gas processing capacity to 2.5 bcm/year, with a second plant, which would be located at Atuabo in the Western Region. The new processing plant will have a capacity of 0.9 bcm/year. In addition, the state-owned company intends to build a 278 km gas pipeline between Takoradi and Tema. Ghana produced 1.5 bcm of gas in 2019 (+66% compared to 2018).
India’s GUVNL signs PPAs for 2.5 GW of solar capacity
8 Jun 2021
Four power distribution companies affiliated with the Indian regional state-owned power utility Gujarat Urja Vikas Nigam Limited (GUVNL) have signed power purchase agreements (PPAs) for 3,979 small-scale solar projects. These power plants, which have a total capacity of about 2.5 GW and should be operational within 18 months, will supply power at INR2.83/kWh (US$3.9c/kWh) for a period of 25 years. The country aims to develop 175 GW of solar capacity by 2022.
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