Daily Energy News
Companies
Total enters the floating offshore wind market in South Korea
2 Sep 2020Total and Macquarie’s Green Investment Group have entered into a partnership to create a portfolio of 5 floating offshore wind projects in South Korea, with a total capacity of 2 GW.
Read moreØrsted completes the divestment of its Danish electricity retail assets
2 Sep 2020Ørsted has completed the sales of its Danish power distribution business (Radius), residential customer business, and City Light business to Danish energy company SEAS-NVE. The transaction includes Ørsted’s Radius, which supplies electricity to 1 million homes and businesses in the Copenhagen area, North Zealand and parts of Central Zealand via an electricity network of approximately 19,000 km. It also includes Ørsted’s private customers business (717,000 electricity customers and 105,000 gas customers) and outdoor lighting operation and maintenance business.
Read moreRenova Energia (Brazil) receives two offers to complete a 743 MW wind project
2 Sep 2020Renova Energia has received two loan offers to complete Phase A (438 MW) of the 743 MW Alto Sertão III onshore wind project in Bahia (Brazil). The company filed brankruptcy in October 2019. The first two phases of the Sertão onshore wind were commissioned respectively in December 2014 (Alto Sertão I, 294 MW) and August 2017 (Alto Sertão II, 386 MW).
As of August 2020, wind accounts for around 9% of Brazil’s installed capacity with 15.4 GW. More than 4 GW are under construction and 33.8 GW are under development.
Read moreForecasts
Nigeria expects to become a net exporter of petroleum products in 2022
2 Sep 2020According to the Department of Petroleum Resources, Nigeria is expected to become a net exporter of petroleum products by 2022. In 2022, the country should have a refining capacity of 1,475 kb/d, with 375 kb/d from 27 modular refineries, 650 kb/d from the Dangote refinery and 450 kb/d from the state-owned refineries after their rehabilitation. In 2019, Nigeria produced only 10 kb/d of refined products in 2019, accounting for 2% of the total consumption (420 kb/d). The country had a total refining capacity of about 450 kb/d in 2019, but most of it is not operational.
Read moreInfrastructure & Investments
The EBRD plans to fund a 200 MW solar project in Egypt
2 Sep 2020The European Bank for Reconstruction and Development (EBRD) plans to fund a 200 MW solar project in Kom Ombo, Egypt. The European financial institution would provide a senior debt financing of US$40m, in addition to an equity loan of up US$14m. The project, which is developed by Saudi Arabia-based ACWA Power, would require a US$155.4m investment.
Read moreRocky Mountain Power seeks approval for a US$2bn transmission project (US)
2 Sep 2020Rocky Mountain Power, a subsidiary of PacificCorp (owned by Berkshire Hathaway), is seeking regulatory approval from the Wyoming Public Service Commission (US) to start construction on the next phase of its 500 kV transmission line project, extending 414 miles (666 km) from the planned Aeolus substation in south-eastern Wyoming into the Clover substation near Mona, Utah. 142 miles (229 km) of the US$2bn transmission project will be in Wyoming. The company plans to begin construction in August 2021 and to complete the project by end-2023.
Read moreThe EIB funds a 143 MW onshore wind project in Austria
2 Sep 2020The European Investment Bank (EIB) and UniCredit Bank Austria have agreed to provide funding worth €107.4m to finance a 143 MW onshore wind repowering project in Austria. Construction was launched in autumn 2019 and is expected to reach completion at the end of 2021. The €143m wind plant will be run by PÜSPÖK Group.
Read more900 MW Cascade CCGT project starts construction in Alberta (Canada)
2 Sep 2020Alberta based developer Kineticor Resource has closed financing on the 900 MW Cascade CCGT project, located near Edson, Alberta (Canada). Sponsors of the CAD1.5bn (US$1.2bn) project includes Macquarie Capital and Ontario-based pension fund OPTrust, Axium Infrastructure and DIF Capital Partners. Construction will start immediately with commercial operations commencing in 2023.
Read morePolicy & Regulatory
Argentina seeks to boost hydrocarbon production
1 Sep 2020As part of its strategy to pull the country out of a financial crisis, the government of Argentina will promote oil and natural gas production, with the objective to increase hydrocarbon exports. According to the government, an increase in hydrocarbon production will allow to adequately supply domestic needs, replace imports and to improve energy trade balance. In 2019, imports of natural gas and petroleum products accounted respectively for 10% and 20% of Argentina’s consumption.
Read moreGermany unlocks €40bn in compensation for coal mining regions
1 Sep 2020The German federal government has signed an agreement with Länder on the €40bn in support to ensure a just transition for coal regions. Brandenburg, Saxony, North Rhine-Westphalia and Saxony-Anhalt will receive €14bn until 2038 for direct investments, while the federal government will provide another €26bn to implement further measures to strengthen locales economies. The law governing support payments for mining regions was adopted in July 2020.
Read more
No Comment