Daily Energy News
Policy & Regulatory
The UK targets 40 GW of offshore wind power capacity by 2030
7 Oct 2020The UK government has raised its target for offshore wind power capacity by 2030 from 30 GW to 40 GW. The authorities intend to release a 10-point programme for a “green industrial revolution” by the end of 2020. The country will invest £160m (€176m) in manufacturing the next generation of turbines, including floating wind turbines that could deliver 1 GW by 2030. In 2019, the UK had the largest offshore wind power capacity in the world, with 9.7 GW.
Read moreMexico investment plan’s energy projects focus on refinery upgrades
7 Oct 2020The Mexican government has unveiled a MXN297bn (US$14bn) infrastructure plan, which includes 5 energy projects totalling MXN99bn (US$4.6bn) in expected investment. The government intends to complete a MXN54.7bn (US$2.7bn) coking plant at Pemex’s 315,000 bbl/d Tula refinery in central Mexico, which would increase the production of higher-value motor fuels like gasoline and diesel.
Read moreCompanies
Shanxi government creates China’s second largest coal producer
7 Oct 2020The provincial government of Shanxi (China) will merge five state-owned coal producers into a single group named Jinneng Holding Group. The new entity will also take over assets from Datong Coal Mine Group, Shanxi Jincheng Anthracite Mining Group (a new company founded by Yangquan Coal Industry Group), and Shanxi Lu’an Mining Industry Group, and will absorb the Taiyuan Coal Exchange Centre, China’s largest coal market.
Read morePremierOil, Chrysaor merge to create UK North Sea’s largest oil producer
7 Oct 2020PremierOil has reached an agreement with Chrysaor to merge through a reverse takeover. Under the deal, Premier’s stakeholders will own 23% of the new entity and Chysaor 77%. Premier’s approximately US$2.7bi of total gross debt and some hedging liabilities will be repaid and cancelled on completion of the transaction and PremierOil’s creditors will receive US$1.23bn in cash.
Read moreBrazil’s Supreme Court authorises Petrobras to sell 8 refineries
6 Oct 2020The Federal Supreme Court of Justice, which is Brazil’s highest appellate court for non-constitutional questions of federal law, has authorised the Brazilian national oil and gas company Petrobras to create subsidiaries to sell 8 refineries, accounting for nearly half of its current refining capacity. The Brazilian Congress was requesting an injunction from the court to suspend the privatisation process.
Read moreElecnor maintains its partnership with Gamesa to build a wind project in Mauritania
6 Oct 2020The Spanish infrastructure group Elecnor has denied its withdrawal from a consortium with Siemens Gamesa Renewable Energy (SGRE) to build a 100 MW onshore wind power plant in Boulenouar (Mauritania), 80 km north of Nouadhibou. The SGRE-Elecnor will also be in charge of operations and maintenance over an 11-year period on behalf of the Mauritanian electricity company Somelec.
Read moreEnergy & Climate Markets
Eletronuclear plans to extend Angra 1 nuclear plant’s lifetime (Brazil)
7 Oct 2020The US nuclear group Westinghouse has signed an agreement with the state-owned Brazilian nuclear company Eletronuclear to conduct engineering analyses critical to the safety, reliability and long-term life of the 657 MW Angra 1 nuclear power plant in Brazil. The pressurised water reactor (PWR) began commercial operation in 1985.
Read moreInfrastructure & Investments
JERA plans two 650 MW CCGT units at its Chita power plant (Japan)
7 Oct 2020JERA, the joint venture between the Japanese power utilities TEPCO and Chubu Electric, has submitted the primary environmental impact consideration document to the Ministry of Economy, Trade, and Industry (MITI), the Governor of Aichi Prefecture, the Mayor of Chita City, and the Mayor of Tokai City, as the company aims to build two new 650 MW CCGT units (units 7 and 8) at its Chita power plant in Aichi prefecture (Japan).
Read more126 MW Tastiota solar plant (Mexico) reaches financial close
7 Oct 2020Canadian Solar has reached financial close for its 126 MWp Tastiota solar project in the state of Sonora, Mexico. The project won a 15-year power purchase agreement (PPA) with the Federal Electricity Commission during Mexico’s third energy auction. Its power generation will be sold to the Federal Electricity Commission (CFE) under a 15-year PPA for energy and capacity, and 20-year for Clean Energy Certificates. Commissioning is scheduled by end-2020.
Read moreAkuo plans to develop 750 MW of solar capacity in Greece
7 Oct 2020French renewable energy group Akuo plans to invest €1bn in Greece by 2025 to develop 750 MW of solar PV capacity, plus another 284 MW in partnership with Italy’s Enel. The company has applied for renewable production licences totalling 1 GW of wind and solar capacity and has recently acquired three wind power plants in Pella, Central Macedonia, investing €150m.
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