Daily Energy News
Policy & Regulatory
The Japanese government targets carbon neutrality by 2050
27 Oct 2020Japan intends to achieve carbon neutrality by 2050. To cut greenhouse gases (GHG) emissions to zero by 2050, the country will invest in new solar cells and carbon recycling, intensifying research and development in those areas, and digitalise its economy.
Read moreIsrael targets 30% of renewables in power generation by 2030
27 Oct 2020The Israeli government has approved an plan to increase the share of renewable energy sources in power generation to 30% by 2030, with the remaining 70% covered by gas, tapping large domestic resources in the Mediterranean Sea. The country aims to generate 20% of electricity from renewable energy sources by 2025. The targets for 2030 will be evaluated and updated in 2024.
Read moreCompanies
Canadian oil and gas producer Cenovus will take over its rival Husky
27 Oct 2020The Canadian oil and gas producer Cenovus has acquired its rival Husky Energy for CAD3.8bn (US$2.9bn) to create a new integrated oil and natural gas company in Canada. The two companies have entered into a definitive arrangement agreement under which Cenovus and Husky will combine in an all-stock transaction valued at CAD23.6bn (US$17.9bn), inclusive of debt. The transaction, which was approved by both boards of directors, should close by early 2021.
Read moreCzechia’s ČEZ will sell an portfolio of power assets in Romania
26 Oct 2020Macquarie Infrastructure and Real Assets (MIRA), through a consortium led by Macquarie European Infrastructure Fund 6, has signed an agreement to acquire the 622 MW Fantanele Cogealac onshore wind complex in Romania, owned by the Czech state-owned power utility ČEZ Group. In addition, the consortium bought an integrated energy infrastructure portfolio, which includes an 86,665 kilometre regulated electricity distribution network (Distribuție Oltenia) and an electricity and gas supply business with 1.4 million residential and industrial connections in the South West of Romania.
Read moreChina’s CNOOC plans to raise gas’ share to half of output by 2035
26 Oct 2020The Chinese state-owned oil and gas company CNOOC intends to raise the share of natural gas to 50% of its total production by 2035 by accelerating exploration and production both in China and overseas. Currently gas accounts for 21% of its total hydrocarbon production. The company also plans to expand its offshore wind power business, to contribute to China’s national carbon neutrality target by 2060.
Read moreEDPR plans to develop 900 MW of wind capacity in Greece
26 Oct 2020Portugal’s renewable energy group EDP Renováveis (EDPR) has signed an agreement with the Greek infrastructure group Ellaktor to jointly develop an onshore wind portfolio with a capacity of 900 MW. The wind projects are currently under different development stages and will strengthen EDPR’s assets in Greece. EDPR already contracted 152 MW in recent wind auctions to start operations in 2021 and 2022.
Read moreEnergy & Climate Markets
Singapore plans to start importing electricity from Malaysia by end-2021
27 Oct 2020Singapore will start a trial to import 100 MW of electricity from Malaysia over a period of two years. The country’s Energy Market Authority (EMA) will issue a request for proposal (RfP) in March 2021 and electricity imports could start as early as late 2021, through the existing 200 MW power interconnection between Singapore and Malaysia (not used currently). At a later stage, Singapore could import electricity from other countries.
Read moreTechnology
BP and partners plan CO2 transport and storage project in the UK North Sea
27 Oct 2020BP, Eni, Equinor, National Grid, Shell and Total have created a partnership, the Northern Endurance Partnership (NEP), to develop offshore CO2 transport and storage infrastructure in the UK North Sea. BP will be the operator of the project. This infrastructure will serve the Net Zero Teesside (NZT) carbon capture, utilisation and storage (CCUS) project, which could capture up to 10 MtCO2/year, and the Zero Carbon Humber (ZCH) carbon removal project, which could capture at least 17 MtCO2/year from projects across the Humber by the mid-2030s.
Read moreInfrastructure & Investments
Brazil’s state-owned BNDES will fund 505 MW of solar projects
27 Oct 2020The Brazilian National Bank for Economic and Social Development (BNDES) has approved two solar PV power projects, requiring a total investment of BRL1.1bn (US$196m). The bank awarded a financing of BRL910m (US$162m) for the Sol de Sol do Sertão solar project, consisting of 8 solar parks with a total installed capacity of 415 MW, developed by Essentia Energia in Oliveira de Brejinhos (Bahia). The solar complex is expected to be operational in the second half of 2021.
Read moreChile’s SEA approves Repsol’s 550 MW solar PV project in Antofagasta
27 Oct 2020The Environmental Assessment Service (SEA) of Chile has approved a 550 MW solar plant project in the Antofagasta region developed by a consortium of Spanish energy groups Repsol and Grupo Ibereólica Renovables. The project requires an investment of US$532m.
In July 2020, Repsol signed an agreement with Grupo Ibereólica Renovables to create a 50-50 joint venture (JV) in Chile to operate and build over 2,600 MW of renewable power projects by 2030. The JV’s resources will allow the development of 3 wind and 2 solar projects totalling more than 1,600 MW.
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