Daily Energy News
Policy & Regulatory
EU parliament approves the EU Climate Law
25 Jun 2021
The European Parliament has endorsed the EU Climate Law, which enshrines the EU’s commitment to reaching climate neutrality by 2050 and the intermediate target of reducing net greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990 levels. A proposal from the European Commission to regulate GHG emissions and removals from land use, land use change and forestry (LULUCF) could raise the 2030 target to 57% with the contribution from new carbon sinks. Before it enters into force, the text must now be approved formally by the EU member states.
Renewables should account for 40% of Malaysia’s installed capacity by 2035
24 Jun 2021
Malaysia aims to reach 31% of renewables in its installed capacity by 2025 and 40% by 2035. The installed renewable capacity (including hydropower) is expected to more than double, from nearly 8 GW in 2020 (around 20% of the installed capacity) to 18 GW by 2035. Malaysia aims to reduce the CO2 emission intensity from the power sector by 45% in 2030 compared to the 2005 level and by a further 60% in 2035.
Chile approves a bill that prohibits coal-fired generation
24 Jun 2021
The Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants. The measure, which is yet to be voted by the Senate, will take effect from 31 December 2025 for plants that are less than 30 years.
Coal accounts for 15% of Chile’s installed capacity, with 4.5 GW (2020). Fourteen coal-fired units totalling 3.3 GW will be less than 30 years as of 2025.
Energy & Climate Markets
Helen (Finland) will close a 212 MW coal-fired power plant in 2023
25 Jun 2021
The Finnish energy group Helen (owned by the City of Helsinki) has decided to bring forward the closure of the 212 MW Hanasaari coal-fired power plant from the end of 2024 to April 2023.
MSEDL’s tender for 500 MW of wind-solar projects 3 times oversubscribed (India)
25 Jun 2021
The Indian regional state-owned power company Maharashtra State Electricity Distribution Company Limited (MSEDCL) has received 1.5 GW of bids in response of its tender to procure 500 MW of grid-connected interstate and intrastate wind-solar hybrid projects that it launched in May 2021. Tata Power, JSW Energy, and ReNew Power were among the bidders. The company will sign 25-year power purchase agreements (PPAs) with selected bidders from the commercial operation date of the projects.
Forecasts
Coal may account for 44% of China’s energy mix by 2030
25 Jun 2021
According to the state-owned China National Petroleum Corporation (CNPC), China could reduce its coal use to 44% of energy consumption by 2030 and to 8% by 2060, as the country is increasingly turning to gas to meet its climate targets. Consequently, the share of natural gas China’s primary energy mix is expected to reach 12% in 2030. According to CNPC, coal would account for 44% of China’s energy mix by 2030, followed by non-fossil fuels (26%), petroleum (18%), and natural gas (12%).
Infrastructure & Investments
Drax plans to build a 600 MW pumped-storage power project in Scotland (UK)
25 Jun 2021
Drax is seeking planning permission to build a new 600 MW pumped-storage hydropower project at its Cruachan dam in Scotland (United Kingdom) that would increase the site’s total capacity from 440 MW to 1,040 MW.
The 465 MW Travers Solar project in Canada enters construction
25 Jun 2021
The 465 MW Travers Solar PV project located in Vulcan County, Alberta (Canada), has entered construction. The power plant is developed by Copenhagen Infrastructure Partners (CIP) and Greengate Power Corporation (Greengate) at a total cost of CAD700m (US$570m). Jinko Solar Canada will supply solar panels and PCL Construction will be responsible for construction. Commissioning is scheduled in 2022 and Amazon will offtake up to 400 MW from the project.
Bangladesh cancels 10 coal-fired projects totalling 9.3 GW
25 Jun 2021
The Bangladeshi authorities have decided to cancel 10 coal-fired projects totalling 9.3 GW due to difficulties in mobilising funds and concerns over environmental issues. Five of the plants totalling 5,175 MW may be converted to LNG, namely Ashuganj Power Station Company Ltd’s 1,320 MW Patuakhali, BPDB’s Moheskhali (1,320 MW), a CPGCL-Sumitomo project (1,200 MW) a Singapore-Bangladesh project (700 MW), and the 635 MW Gazaria project.
AES Brasil plans a GW-scale wind project in Rio Grande do Norte (Brazil)
25 Jun 2021
AES Brasil intends to build a GW-scale wind project in the municipalities of Lajes, Angicos, Pedro Avelino and Fernando Pedroza in Rio Grande do Norte, in north-eastern Brazil. The power plant will require an initial investment of BRL6bn (US$1.2bn). In addition, AES Brasil has selected Nordex Group to supply and install 55 N163/5.X turbines for the 314 MW Cajuína wind project in Rio Grande do Norte.
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