Daily Energy News
Policy & Regulatory
Pakistan targets a 30% share of renewables in power mix by 2030
12 Aug 2020The government of Pakistan plans to increase the share of its power generation from renewables (excluding hydropower) from less than 4% in 2018 to 20% by 2025 and 30% by 2030. The target will include mainly wind and solar power, but also geothermal, tidal and biomass energy. The share of renewables (including hydropower) in Pakistan’s power mix could increase from around 26% in 2018 to reach 65% by 2030, thanks to a boost in hydropower capacity. Pakistan intends to add between 7 to 8 GW of renewable power capacity by 2025.
Read moreNigeria details plans to upgrade its transmission capacity by 2025
12 Aug 2020As part of its electricity deal with the government, Siemens will upgrade 105 power substations and build 70 new ones along with 35 power transformers. In addition, 3,765 distribution transformers will be installed, and 5,109 km distribution lines be built with a potential capacity of over 13,000 MW.
Read moreCompanies
EDPR sells a 242 MW portfolio of Spanish onshore wind projects for €426m
12 Aug 2020EDP Renováveis (EDPR) has agreed to sell a 242 MW portfolio of onshore wind project to Portuguese energy producer Finerge for €426m. This sale includes seven onshore wind farms located in Ávila and Catalonia, Spain, which have been in operation for an average of nine years. The transaction is subject to regulatory conditions and is expected to be completed by end-2020.
With this new agreement, EDPR has already sold 40% of the €4bn planned for the period 2019-2022, as announced by the company in the March 2019 update of its Strategic Plan.
Read moreForecasts
ENTSO-E (EU) identifies 93 GW of needs for power interconnection by 2040
12 Aug 2020ENTSO-E’s new System Needs study identifies a total of 50 GW of needs for cross-border electricity exchanges on close to 40 borders in 2030 and another 43 GW on more than 55 borders in 2040. Addressing system needs would require €45bn of investment and could put Europe on track to realise the Green Deal, with 110 TWh of curtailed energy and 53 Mt of CO2 emissions avoided each year until 2040. The progress in market integration would lead to an increase in price convergence between bidding zone thanks to an additional 467 TWh/year of cross border exchanges by 2040.
Read moreAlgeria’s gas exports expected to decrease by 40% over 2020-2025
11 Aug 2020According to the energy minister, Algeria’s natural gas exports are expected to decrease by more than 40% between 2020 (45 bcm) and 2025 (26 bcm) due to stagnant production, rising domestic demand and insufficient investment. In 2019, exports reached 42.7 bcm.
Read moreInfrastructure & Investments
Chad plans a 200 MW solar-plus-storage plant
12 Aug 2020The Chadian government has signed an agreement with Argentina-based Alcaal Group to conduct studies for the development of a 200 MW solar PV power plant with storage capacity near N’Djamena.
Read moreCameron LNG commissions its third 4.5 Mt/year LNG export train (US)
12 Aug 2020The Phase 1 of the Cameron LNG export project in Hackberry, Louisiana (United States) has reached full commercial operations, as the third 4.5 Mt/year train has entered production. The US$10bn Phase 1 of the Cameron LNG export project includes three trains of up to 4.5 Mt/year each (total of up to 13.5 Mt/year). The train 1 began commercial operation in August 2019, with train 2 commissioned in March 2020.
Read moreEuropean Energy secures financing for a 121 MW solar project in Italy
12 Aug 2020European Energy has obtained a €96.5m financing for its 121.5 MW Troia solar power project near Foggia (Apulia) in Italy from the French financial service firm Natixis. The project is financed without having first been supported by state subsidies. The solar plant is divided into three sections. A first 63 MW phase is operating since November 2019 and receiving feed-in-tariffs for 20 years under the 5th Conto Energia. The second 40 MW phase was completed in June 2020. A third 18.5 MW phase is expected to be operational by October 2020.
Read moreThe UK government approves the 299 MW VPI Immingham OCGT project
12 Aug 2020The UK Secretary of State for Business, Energy and Industrial Strategy has granted development consent for the 299 MW VPI Immingham Open Cycle Gas Turbine (OCGT) project and associated development, including gas and electrical connection. Construction is expected to start in 2021 and the power plant could enter commercial operations in late 2022 or early 2023.
Read moreEnergy & Climate Markets
Saudi Arabia shelves US$3.2bn oil supply deal with Pakistan
11 Aug 2020A November 2018 arrangement between Pakistan and Saudi Arabia to supply US$3.2bn worth of Saudi oil on deferred payments expired in June 2020 and is still to be renewed, as Saudi Arabia would be awaiting Pakistan’s request to renew the arrangement. Pakistan was expecting to import US$1bn worth of oil in the fiscal year 2020-2021, which started in July 2020, but Saudi Arabia is yet to renew the deal. The US$3.2bn Saudi oil facility, which was part of the US$6.2bn Saudi Arabian package announced in November 2018, had the provision of renewal for two more years.
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