Daily Energy News
Policy & Regulatory
Spain approves a decree to speed up renewable energy project development
24 Jun 2020The Spanish government has approved a decree to promote the transition towards a 100% renewable electricity system by 2050, with an intermediate target of 74% renewable electricity by 2030. The text includes measures to combat speculation in the use of network access permits (successive administrative milestones with stricter time limits for permits), to cut red tape (measures to simplify and speed up the processing of renewable projects and the associated electrical infrastructure) and to introduce a new power auction system, based on the price of energy.
Read moreDenmark’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 moreCompanies
ADNOC (UAE) sells leasing rights to its gas transport network for US$10bn
24 Jun 2020Abu Dhabi National Oil Company (ADNOC, United Arab Emirates) has signed a US$10bn gas infrastructure agreement to sell a 49% stake in ADNOC Gas Pipeline Assets to a consortium of investors comprising Global Infrastructure Partners, Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board (Canada), South’s Korea NH Investment & Securities and Snam (Italy).
Read moreIberdrola takes majority stake in Swedish offshore wind projects (9 GW)
24 Jun 2020The Spanish energy group Iberdrola has signed an agreement with Svea Vind Offshore (SVO) to take a majority stake in eight offshore wind projects in Sweden. The projects, with a total capacity of 9 GW, are expected to start operating from 2029 onwards. Projects are grouped around two geographical zones: Gavle (six projects totalling 5.1 GW of power capacity) and Oxelosund (two projects totalling another 3.9 GW).
Read moreAdani Power acquires AES’s stake in 1.7 GW coal-fired power plant (India)
24 Jun 2020The US power group AES Corporation has signed an agreement to sell its 49% stake in the 1,740 MW OPGC 1-2 coal-fired power plants in Odisha (eastern India) to Adani Power, an affiliate of the Indian conglomerate Adani Group. Through this sale, the share of coal in AES’ total power generation will be reduced from 45% to 35%.
Read moreJERA 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
Gunvor plans to mothball its 110,000 bbl/d refinery in Antwerp (Belgium)
24 Jun 2020Swiss crude oil and oil products trader Gunvor plans to mothball its 110,000 bbl/d refinery in Antwerp (Belgium), as the facility is expected to be loss-making in the near term. The group already stopped processing crude oil at the Antwerp refinery in May 2020 due to a low demand. Gunvor also anticipates increasing costs, a shortage in raw materials (medium sulphur crude oil) and rising competition from new complex refiners.
Read moreDenmark will export 8-16 TWh of renewable power to the Netherlands
24 Jun 2020As part of an agreement on energy cooperation and statistical transfer, Denmark and the Netherlands will cooperate on offshore wind, sustainable heat and heat networks, hydrogen, synthetic fuels and carbon capture, utilisation, and storage (CCUS) and on Power-to-X technologies. In addition, Denmark will export 8 to 16 TWh of renewable electricity to the Netherlands for a fee of €12.5/MWh. The funds involved in the transfer will be spent on a Power-to-X project for the electrolysis of green hydrogen.
Read moreForecasts
China plans to increase its oil and gas production in 2020
24 Jun 2020In 2020, China intends to raise its crude oil production by 1% and its gas production by 4.3%. It will focus on four key hydrocarbon production areas to reach this target, namely the Bohai Bay in northern China (offshore production), the Sichuan province, the Erdos Basin and the Xinjiang region (western China). China also aims to promote new energies, including renewables, fuel ethanol and coal-to-liquids (CTL) to replace conventional hydrocarbons, according to the National Energy Administration.
Read moreInfrastructure & Investments
Innogy selects turbines for 1.4 GW Sofia offshore wind project (UK)
24 Jun 2020Innogy has selected Siemens Gamesa Renewable Energy to supply 100 turbines rated 14 MW each for its 1.4 GW Sofia (Dogger Bank Teesside B) offshore wind project located 195 km off the northeast coast on Dogger Bank in the British North Sea. The project was granted development consent order in August 2015 and it won a Contracts for Difference (CfD) in September 2019. In May 2019, Innogy was granted approval by the United Kingdom and the Marine Management Organisation to expand the capacity of the Sofia offshore wind park project by 15% (200 MW) to 1,400 MW.
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