Daily Energy News
Policy & Regulatory
Romania will sign a deal with the US for Cernavoda nuclear project
12 Oct 2020Romania and the United States have agreed to cooperate for the construction of Units 3 and 4 and the refurbishment of Unit 1 at the Cernavoda nuclear power plant in Romania. Romania will use US technology and expertise for the modernisation and new build project. In addition, the US Exim Bank would offer a US$8bn (€6.8bn) financial package to the country for the nuclear units and other projects.
Read moreGermany’s Bundestag approves a national price of €25/t for CO2 emissions
9 Oct 2020The Bundestag, Germany’s lower house of parliament, has passed a text introducing a national price of €25/t of CO2 emissions in the transport and building sectors from 2021, which will be raised to €55/t by 2025. From 2026, the certificate price will be determined through auctions, with a ceiling price of €55/t and a maximum price of €65/t in 2026. Companies active in fuel (gasoline, diesel, heating oil) and gas sales will have to buy emission rights. Consequently, gasoline prices are expected to rise by €7c/l and diesel prices by €7.9c/l in 2021 (+€0.6c/kWh for gas).
Read moreEuropean Parliament votes for 60% GHG emissions cut by 2030
9 Oct 2020The European Parliament has approved a law to make climate neutrality mandatory by 2050 in both EU and member states and to achieve "negative emissions" after 2050. In addition, the parliament recommends reducing greenhouse gas (GHG) emissions by 60% in 2030 compared to 1990, instead of the current 40% emission cut target for 2030 and instead of “at least 55%”, as the European Commission proposed. It also requires an interim target for 2040 to ensure the EU is on track to reach its 2050 target.
Read moreCompanies
Polish state-owned power utilities will separate coal assets in 2021
12 Oct 2020The State Assets Ministry of Poland is expected to present a reform plan for state-owned power utilities operating coal assets by the end of 2020. Under the reform plan, power utilities would start separating coal from other assets in 2021, which is expected to facilitate financing for non-coal projects, as banks are increasingly reluctant to finance companies active in fossil fuels. PGE, whose power generation is mainly based on coal, is facing massive costs to invest in offshore wind and has called for a split of its coal assets to help raise financing for renewable projects.
Read moreGermany’s EnBW plans to phase out coal-fired generation by 2035
12 Oct 2020The German power utility EnBW has released a 25-point programme, which aims to exit coal-fired generation by 2035. EnBW intends to halve its CO2 emissions by 2030 and to reach carbon neutrality by 2035. EnBW’s current coal-based generation capacity is 4.6 GW. The company plans to withdraw 2.5 GW by 2030 and to completely phase out coal-fired generation by 2035.
Read moreRenova accepts binding offer for a 305 MW wind project in Brazil
12 Oct 2020Renova Energia has accepted a bidding proposal from Prisma Capital to acquire the 305 MW Phase B of the 743 MW Alto Sertão III onshore wind project in Bahia (Brazil). The transaction is subject to approval of the General Creditors’ Meeting. In September 2020, Renova Energia approved a loan offer from asset manager Quadra Capital to complete Phase A (438 MW) of the Alto Sertão III project.
Read moreInfrastructure & Investments
The ADB lends US$186m to develop a 257 MW solar project in Vietnam
12 Oct 2020The Asian Development Bank (ADB) has awarded a US$186m loan to Phu Yen TTP, an affiliate of B.Grimm Power and Truong Thanh Viet Nam Group, to develop and operate a 257 MW solar power plant in Hoa Hoi, Phu Yen Province, in Vietnam. The financing includes a $27.9m loan funded by ADB, a US$148.8m syndicated loan funded by commercial banks with ADB as lender of record, and a US$9.3m loan from Leading Asia’s Private Infrastructure Fund (LEAP).
Read moreEnel starts building its 204 MW Domeyko solar PV project in Chile
12 Oct 2020Enel Chile, through its renewable energy subsidiary Enel Green Power Chile, has started building its 204 MW Domeyko solar PV project, located in the Antofagasta Region in northern Chile. The solar plant, which is scheduled to be commissioned in July 2021, requires a total investment of US$164m. It is expected to generate 589 GWh/year.
Read moreSpain’s Iberdrola starts building a 317 MW solar-wind project in Australia
12 Oct 2020The Spanish energy group Iberdrola has started building the 317 MW Port Augusta wind and solar power project in South Australia, which combines 210 MW of wind and 107 MW of solar capacity. The power project, which will require an AUD500m (US$362m) investment, is expected to enter operations in 2021.
Read moreCGN Power fully commissions Yangjiang nuclear power plant (China)
12 Oct 2020China General Nuclear (CGN) Power has fully commissioned the Yangjiang nuclear power project in Guangdong (South China). The Yangjiang nuclear project consists of six units of 1,000 MW, including four 1,080 MW CPR-1000 pressurized water reactors and two ACPR-1000 reactors. The first reactor was commissioned in 2014, the second in June 2015, the third unit in January 2016 and the fourth unit in March 2017. Unit 5 entered commercial operation in July 2018 and the 1000 MW reactor achieved first criticality and was connected to the national grid in late June 2019.
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