Daily Energy News
Policy & Regulatory
The US will support NuScale’s 2.5 GW nuclear project in South Africa
20 Oct 2020The US International Development Finance Corporation (DFC), which was authorised by US authorities to support nuclear power projects abroad in July 2020, has signed a letter of intent (LoI) to support NuScale, a US nuclear energy technology firm, to develop 2.5 GW of nuclear capacity in South Africa. South Africa has a PWR nuclear plant with a capacity of 1 860 MW (2 x 930 MW), located in Koeberg, near Cape Town, which has been operational since 1984. If successful, NuScale would be the first nuclear independent power producer in Africa.
Read moreThe EU is on track to meet its GHG emissions cut target by 2030
19 Oct 2020The European Commission has adopted the 2020 State of the Energy Union Report and released individual assessments of the 27 National Energy and Climate Plans, which analyses the pathway and ambition of each Member State towards the current 2030 climate and energy targets. While the EU is on track to outperform its current target of reducing greenhouse gas (GHG) emissions by 30%, several countries, including Germany, France and the Netherlands, are projected to fall short of GHG reduction objectives, while others, such as Croatia and Spain, should overachieve theirs.
Read moreThe US FERC supports carbon pricing in wholesale electricity markets
19 Oct 2020The US Federal Energy Regulatory Commission (FERC) has released a proposal to encourage regional electric markets operators to incorporate a state-determined carbon price in wholesale electric markets. The FERC, which is not an environmental regulator, can be called upon to review proposals that incorporate a state-determined state carbon price into these regional markets. According to the FERC, these rules could improve the efficiency and transparency of the organised wholesale markets by providing a market-based method to reduce GHG emissions.
Read moreCompanies
ConocoPhillips buys US shale producer Concho Resources for US$9.7bn
20 Oct 2020ConocoPhillips has reached an agreement to acquire the US shale oil producer Concho Resources for US$9.7bn. The transaction brings together assets across the Delaware and Midland basins in addition to positions in the Eagle Ford and Bakken in the Lower 48 and the Montney in Canada. The merged company will have a combined resource base of 23 Gboe with an average cost of supply below US$30/bbl WTI and an average production of 1.5 mboe/d, making the new company the largest independent oil and gas company in the United States.
Read moreEDF Renewables acquires 4.5 GW of solar projects in the United States
20 Oct 2020EDF Renewables has signed an agreement to acquire a 4.5 GW pipeline of solar projects from the renewable project developer Geenex Solar in the PJM market (United States). The project portfolio includes more than 20 solar projects in various stages of development. The first projects expect commercial operation in 2023 with other projects to follow. EDF Renewables already owns 2.6 GW of wind capacity and 200 MW solar capacity in the United States.
Read morePoland’s PGE plans to add 6.5 GW of renewables capacity by 2030
20 Oct 2020The Polish state-owned power utility PGE (57.4% state-owned) has presented a transformation plan targeting climate neutrality in 2050. The group intends to invest PLN75bn (€16.4bn) by 2030, with the objective to add 6.5 GW of renewable capacity, including 3 GW of solar PV, 2.5 GW of offshore wind and at least 1 GW of onshore wind. The utility aims to reach 100% of green energy in 2050.
Read moreEnergy & Climate Markets
Turkey discovers an extra 85 bcm of natural gas in the Black Sea’s Tuna-1 zone
20 Oct 2020Turkish Petroleum has discovered an additional 85 bcm of natural gas in the Black Sea’s Tuna-1 zone. The total amount of natural gas reserves in the Tuna-1 well of the Sakarya gas field now reaches 405 bcm. The Tuna-1 well is located on the seabed at a depth of 2,100 metres and the new discovery came at the depth of 4,400 metres. The field is expected to enter production in 2023.
Read moreInfrastructure & Investments
Voith wins turbine order for 800 MW Mohmand hydro project in Pakistan
20 Oct 2020The China Gezhouba Group Corporation (CGGC) has awarded a contract to Voith to supply four 200 MW Francis turbine for the 800 MW Mohmand hydropower project, which will be built on the Swat river in Khyber Pakhtunkhwa (Pakistan). The project is developed by a consortium of China Gezhouba Group Corporation and Pakistani company Descon Power Solutions. The first unit is expected to enter operations in 2025 and the project should be fully operational by 2026.
Read moreJuwi moves ahead with its 204 MW Kozani solar PV project in Greece
20 Oct 2020The German solar project developer Juwi has selected the Chinese company JinkoSolar to supply solar modules for the 204 MW Kozani solar PV project in northern Greece. In February 2020, Hellenic Petroleum acquired the project, which is due to enter construction in November 2021. Solar accounts for 14% of Greece’s installed capacity, with 2.8 GW.
Read moreScotland (UK) approves SSE’s Coire Glas 1.5 GW hydropower project
20 Oct 2020The Scottish government has granted consent for SSE Renewables’ 1.5 GW Coire Glas hydro pumped storage project located near Loch Lochy in Lochaber in the Scottish Highlands (United Kingdom). Initially approved for a 600 MW scheme in December 2013, revised plans were transmitted in April 2018 to the Scottish authorities for an up to 1500 MW .
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