Daily Energy News
Policy & Regulatory
Vietnam’s updated NDC targets 9% GHG emissions cut by 2030
10 Aug 2020The government of Vietnam has updated its Nationally Determined Contribution (NDC). The country intends to reduce to its greenhouse gas (GHG) emissions by 9% by 2030 compared to the business-as-usual (BAU) scenario, equivalent to 83.9 Mt of CO2eq, using its domestic resources. The new target is 1 percentage point higher than the previous objective set in 2015.
Read moreSpain allocates €300m for the energy rehabilitation of buildings
10 Aug 2020The Spanish government has allocated €300m to the Building Energy Rehabilitation Programme, which will subsidise changes to the thermal envelope, replacement of boilers with renewable options or improvements in lighting efficiency of buildings built before 2007. Between 25% and 35% of the cost of the renovation will be subsidised. In the case of vulnerable consumers, an additional 15% subsidy is provided. The program will be coordinated by the Institute for Energy Savings and Diversification (IDAE), dependent on the Ministry for Ecological Transition and the Demographic Challenge.
Read moreEU and Swiss ETS linking will start in September 2020
7 Aug 2020The European Commission and Switzerland will launch in September 2020 a provisional system for the transfer of carbon emission allowances between the EU Emission Trading Scheme (ETS) and the Swiss ETS. The Linking Agreement between the EU and Switzerland entered into force on 1 January 2020. The transfer system was initially expected to start in May 2020, but the initial launch was delayed due to the COVID-19 pandemic.
Read moreEnergy & Climate Markets
Peabody Energy writes off US$1.42bn of US coal assets
10 Aug 2020The US coal and energy group Peabody Energy, the largest private coal group in the world, has impaired the value of its North Antelope Rochelle Mine by US$1.42bn, taking into account lower long-term gas price forecast, coal-fired power plant retirement plans and continuous growth in renewable power generation, which are expected to reduce again the share of coal in the US power mix.
Read moreForecasts
Kazatomprom’s uranium output should drop by 16% in 2020 (Kazakhstan)
10 Aug 2020Kazakhstan’s state-owned uranium extraction and nuclear company Kazatomprom plans to produce 19,250 tU in 2020, i.e. 16% less than in 2019, when it produced 22,808 tU. In February 2020, the company had announced that its 2020 output would remain at about 22,750-22,800 tU. However, the 4-month shutdown of its uranium mines due to the COVID-19 pandemic and uncertainties over the impacts of the crisis prompted the company to revise its production estimates downward.
Read moreInfrastructure & Investments
Power China commissions a 1.6 GW hydro project in South China
10 Aug 2020Sinohydro Bureau 8, a subsidiary of state-owned company PowerChina, has commissioned the 1.6 GW Datengxia hydropower project on the left bank of the Qianjiang River, a tributary of the West Pearl River, in the Guangxi Zhuang autonomous region (South China). Power China was responsible for the main construction. The project is expected to generate 3.75 TWh/year of electricity.
At the end of 2019, China’s hydropower capacity reached 356 GW, accounting for 17% of the total capacity.
Read moreAustralian regulator approves Crux gas project’s development plan
10 Aug 2020The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) of Australia has approved the offshore project proposal for the Crux gas project in the northern Browse Basin, in northwestern Australia. The current project includes five production wells, a 165 km-long export pipeline connecting the production platform to the Prelude FLNG facility and the subsea integration system.
Read moreIndia’s NTPC awards 1.2 GW of solar power capacity in ISTS auction
10 Aug 2020The reverse auction led by the Indian state-owned power group NTPC for 1.2 GW of solar power projects under the Interstate Transmission System (ISTS) has seen a record low tariff of INR2.43/kWh (US$3.2c/kWh) proposed by O2 Power, Azure Power, and Tata Power. O2 Power won 400 MW of solar capacity, Tata Power 370 MW and Azure Power 300 MW. In addition, Amp Energy secured project capacities of 100 MW at a tariff of INR2.44/kWh (US$3.2c/kWh). Overall, NTPC received bids of about 1.7 GW capacity.
Read moreThe 731.5 MW Borssele III/IV wind project achieves first power (Netherlands)
10 Aug 2020Blauwwind has achieved first power on the 731.5 MW Borssele III/IV offshore wind project in the Dutch part of the North Sea. 36 of the 77 V164-9.5 MW turbines produced by MHI Vestas are now installed and the installation should be completed in October 2020. Once fully operational, the project is expected to generate 3 TWh/year.
Read moreCompanies
Iberdrola secures a 53% stake in the Australian renewable company Infigen
7 Aug 2020Spanish energy group Iberdrola has taken over Australian renewable producer Infigen Energy by securing ownership of 52.75% of its shares. Consequently, Iberdrola’s takeover offer has been automatically extended until 19 August 2020. Infigen has secured the approval of the Foreign Investment Review Board (FIRB) of Australia.
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