Daily Energy News
Policy & Regulatory
Denmark’s coalition government approves new climate agreement
23 Jun 2020The Danish government and parliament have signed a climate agreement that targets a 3.4 Mt reduction in CO2 emissions. As part of the deal, the country will approve the creation of two offshore wind hubs totalling 5 GW and that of a 1 GW offshore wind project in Hesselø and will invest in CO2 capture (carbon capture and storage, CCS) and green fuels. In addition, Denmark will introduce a tax on emissions of CO2 and greenhouse gases (GHGs).
Read morePoland considers separating coal-fired power capacity from energy groups
22 Jun 2020The Polish government is working on a plan to take over coal-fired power capacity from energy groups, including PGE, Tauron, Enea and Energa, and to consolidate it in a separate entity. The objective would be to maintain coal assets on the capacity market and give great development opportunities for renewables, as having coal assets makes it difficult for energy groups to access investment financing. The programme could take months to materialise. As of June 2020, coal-fired capacity accounted for 64% of Poland’s total capacity.
Read moreChina’s budget for renewable subsidies rises by 7.5% in 2020 to US$13bn
22 Jun 2020The Chinese government has increased its budget for renewable power subsidies by 7.5% from CNY85.2bn (US$12bn) in 2019 to CNY92.4bn (US$13bn) in 2020. Solar projects will collect CNY42.8bn (US$6bn, +14%), while wind will receive CNY35.7bn (US$5bn, -3.2%). The remaining CNY13.8bn (US$1.95bn) will fund biomass power and local grid companies. So far in 2020, solar power projects accounting for 33.5 GW of new capacity have applied for subsidies (+36% on 2019). In 2019, the Chinese authorities subsidised 22.8 GW of the 24.8 GW that applied for the scheme.
Read moreCompanies
JERA creates JV to develop 2 GW of floating offshore wind projects
23 Jun 2020JERA, the joint venture between the Japanese power utilities TEPCO and Chubu Electric, French state-owned investment company ADEME Investissement and IDEOL, a company specialised in floating offshore wind, have decided to create a common investment vehicle with the objective to develop 2 GW of floating offshore wind projects over the 2020-2025 period.
Read moreEnergy & Climate Markets
BP will ramp up gas production from Oman’s Khazzan field by 50%
23 Jun 2020BP plans to ramp up gas production from the Khazzan project in Oman by 50% by the end of 2020. The field’s production, which currently reaches 1 bcf/d (28.3 mcm/d), is expected to attain 1.5 bcf/d (42.5 mcm/d) by end-2020, in addition to around 35,000 bbl/d of gas condensate (light oil).
Read moreInfrastructure & Investments
The Mozambique LNG project secures a US$2.25bn state guarantee
23 Jun 2020The government of Mozambique has offered a US$2.25bn state guarantee to the US$20bn Mozambique LNG project in lieu of an immediate equity contribution from the state-owned National Hydrocarbon Company (ENH).
Read moreStatkraft commissions 184 MW Moglicë hydropower project in Albania
23 Jun 2020Statkraft has commissioned the 184 MW Moglicë hydropower plant on the Devoll River in Albania. Construction started in 2015 and the project is expected to generate around 450 GWh/year. In 2016, Statkraft commissioned the 73 MW Banjë dam, the first phase of its 256 MW project on the Devoll River.
Albania has a generation capacity of 2.2 GW, with hydro accounting for 96% of the total (and 100% of the power generation).
Read moreArgentina commissions a grid connection for a 300 MW solar project
23 Jun 2020The province of Jujuy (Argentina) has commissioned a grid connection for the Cauchari solar I, II and III projects with a total capacity of 300 MW. The grid connection will allow to connect the solar power plants, which were completed in December 2019, to the Argentinian grid. The local state-owned JEMSE operates the plant.
Read moreEnlight secures loans for its 312 MW Gecama wind project (Spain)
23 Jun 2020The Israeli company Enlight Renewable Energy has reached financial close for the 312 MW Gecama wind power project in Spain. Enlight, which obtained a €320m loan from two Spanish banks, Banco de Sabadell and Bankia, will invest €115m in project, holding a 72% stake. The remaining capital will be completed by project partners Phoenix and Menora Mivtachim. The Gecama wind project will consist of Nordex wind turbines and is expected to enter operation in 2022. The project will sell electricity on a full merchant basis.
Read moreGazprom still expects to start Nord Stream 2 gas pipeline by end 2020
23 Jun 2020According to Gazprom, the Nord Stream 2 gas pipeline project between Russia and Germany remains on schedule. Commissioning is still expected at the end-2020 or early 2021. Earlier in June 2020, Nord Stream 2 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.
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