Daily Energy News
Policy & Regulatory
New Zealand reforms its GHG emissions trading scheme
18 Jun 2020The New Zealand Parliament has approved the Emissions Trading Reform Bill, which will introduce a cap on the total greenhouse gas (GHG) emissions allowed within the Emissions Trading Scheme from 2021. The government proposed to cap the country’s emissions at 354 MtCO2eq over 2021-2025, with a limit of 160 MtCO2eq for industries covered by the ETS.
Read moreIndonesia delays production start-up of palm oil-based diesel to 2026
18 Jun 2020Indonesia, which planned to start producing diesel made entirely from palm oil in 2023, has delayed the target to 2026. The so-called “green diesel” is prepared by refining fossil crude oil and palm derivatives (fatty acid methyl ester, or FAME) together and the state-owned oil and gas corporation Pertamina is building refineries to process palm oil directly to fuel.
Read moreSweden will end its rebate scheme for rooftop PV in July 2020
17 Jun 2020The Swedish government has decided to close its rebate scheme for rooftop PV projects on 7 July 2020, leaving less than one month for interested households to submit their subsidy application for solar rooftop installations. In addition, Sweden has postponed the deadline to complete projects under the rebate scheme from 31 December 2020 to 30 June 2021, due to construction delays related to the pandemic. The rebate scheme will be replaced from January 2021 by tax deductions for private individuals.
Read moreIreland’s new government plans to levy €100/tCO2 on carbon by 2030
17 Jun 2020Ireland’s new government plans to increase the carbon tax by €7.5/tCO2 in every budget until 2029, as the coalition government intends to levy €100/tCO2 on carbon by 2030, against €80/tCO2 under the current trajectory. According to the plan, all extra carbon tax revenue will be transferred to a Climate Action Fund, which is expected to raise €9.5bn over the next decade.
Read moreCompanies
Vectren plans to add 1.3 GW of renewable power capacity in the US
18 Jun 2020The US energy utility Vectren (part of the CenterPoint Energy group) plans to develop up to 1.3 GW of renewable power capacity, including 1 GW of solar and 300 MW of wind, and to phase out 730 MW of coal-fired power generation capacity. In addition, the company will add 460 MW of gas-fired capacity.
Read moreForecasts
Global solar capacities could surpass 1 TW in 2022
18 Jun 2020According to SolarPower Europe, the global solar market is expected to contract by 4% in 2020, to 112 GW in the medium scenario (instead of the 144 GW initially forecast), due to the global pandemic. However, if governments adopt “green” recovery plans, solar should rebound over the 2021-2024 period, with annual demand to increase by 34% to 150 GW in 2021, 12% to 168 GW in 2022, 9% to 184 GW in 2023, and 9% to 200 GW in 2024. Consequently, solar capacities worldwide should reach 1 TW by 2022 and 1.4 TW in 2024 under the medium scenario.
Read moreInfrastructure & Investments
Nord Stream 2 requests updated permit for gas pipeline in Denmark
18 Jun 2020Nord Stream 2 has applied for a permit to use pipe-laying vessels with anchors to complete the 55 bcm/year Nord Stream 2 gas pipeline in Danish waters. The Danish Energy Agency is expected to make a decision within a month, on an administrative basis and in accordance with the United Nations Convention on the Law of the Sea. In October 2019, the Danish Energy Agency granted a permit to Nord Stream 2 to build a gas pipeline south-east of Bornholm, proposed in May 2019. It preferred this path based on environmental and safety considerations.
Read moreThe Viking Link interconnector (UK-Denmark) secures a €660m loan
18 Jun 2020The British power transmission system operator (TSO) National Grid has secured a US$743m (€660m) loan to fund the 1,400 MW Viking Link power interconnector project between the United Kingdom and Denmark, estimated at €2bn. The so-called “green loan” is made up of US$488m (€434m) from SACE Export Credit and US$255m (€227m) from Euler Hermes Export Credit.
Read moreMyanmar commissions its first 477 MW LNG-to-power plant
18 Jun 2020VPower Group has commissioned a 477 MW LNG-to-power project in Thaketa Township of Yangon (Myanmar), the first LNG-to-power commissioned in Myanmar. The project was awarded to a 50-50 joint venture between VPower Group and state-owned China National Technical Import and Export Corporation (CNTIC) in late 2019 through a public tender. The joint venture, CNTIC VPower, has signed a power purchase agreement with Myanmar Electric Power Enterprise.
Read moreSSE takes FID on 443 MW Viking onshore wind project (UK)
18 Jun 2020SSE has taken a final investment decision (FID) for the 443 MW Viking onshore wind project in Shetland, in Scotland (United Kigdom), which is expected to produce 1.9 TWh/year. SSE’s capital expenditure on the project is estimated to be around £580m (€645m). Construction of the project is expected to start before the end of 2020.
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