Daily Energy News
Policy & Regulatory
South Korea pledges to reach carbon neutrality by 2050
29 Oct 2020South Korea has pledged to reach carbon neutrality by 2050. The country plans to spend KRW8,000bn (US$7.1bn) on a Green New Deal, aimed at developing a low-carbon economy that would focus on developing electric and hydrogen cars. The country aims to raise the number of electric vehicles on the roads from 91,000 in late 2019 to 1.13 million by 2025 and that of hydrogen cars from 5,000 to 200,000.
Read moreScotland (UK) targets 11 GW of offshore wind capacity by 2030
29 Oct 2020The Scottish government (United Kingdom) has raised its target for offshore wind power capacity by 2030 from 8 GW to 11 GW. Scotland has currently 5.6 GW of consented offshore capacity, of which 1 GW is operational.
Read moreChina plans to launch its carbon ETS between 2021 and 2025
29 Oct 2020The Chinese government intends to create a nationwide carbon emissions trading scheme (ETS) during the period from 2021 to 2025. The country previously expected to launch the first phase of the ETS, only covering the power sector, by the end of 2020. This scheme has been on the works for several years. China started with seven regional trading platforms in 2013 and launched a national ETS in December 2017 but had to work on legal and technical infrastructure construction before starting trading.
Read moreThailand’s updated NDC keeps GHG emissions reduction target unchanged
28 Oct 2020Thailand has updated its Nationally Determined Contribution (NDC), keeping its greenhouse gas (GHG) emissions reduction target unchanged. The country intends to reduce its GHG emissions by 20% by 2030 compared to the business-as-usual (BAU) scenario, using its domestic resources. The GHG emission cut target could be further increased from 20% to 25%, with international support through bilateral, multilateral cooperation and implementation of mechanisms under the Paris Agreement.
Read moreGerman onshore wind tender for 826 MW only attracts 769 MW
28 Oct 2020The German Federal Network Agency (Bundesnetzagentur or BNetzA) has published the results of the latest tenders for onshore wind and solar capacity, with a bidding date set for 1 October 2020. The auction for 826 MW of onshore wind capacity attracted 89 bids totalling 769 MW, with price ranging from €5.60c/kWh to €6.20c/kWh (weighted average of €6.11c/kWh). Three bids were excluded. Many projects were awarded in Schleswig-Holstein (23 awards totalling 109 MW) and in Lower Saxony (18 awards, totalling 235 MW).
Read moreCompanies
Vietnam signs deals with US and Japanese firms to build LNG power plants
29 Oct 2020AES has signed an agreement with PetroVietnam Gas to set up an LNG import terminal and power plant worth US$2.8bn in Vietnam. The facility is expected to import US LNG, paving the way for a rising LNG trade between the two countries.
Read moreInfrastructure & Investments
India’s NHPC awards contract for the 2 GW Lower Subansiri dam
29 Oct 2020India’s National Hydro Power Corporation (NHPC) has awarded a INR15.6bn (US$211m) contract to Patel Engineering, an Indian civil construction company, to take part to the construction of the 2 GW Lower Subansiri hydropower project near North Lakhimpur on the border of Arunachal Pradesh and Assam in Northeast India. The project received all necessary regulatory approvals in August 2019. The construction of the plant initially started in 2006 but came to a halt in 2011. Works resumed in October 2019. The construction could last 3.5 years for a total expenditure of INR 170bn (US$2.4bn).
Read moreRomania signs a deal with France for Cernavoda nuclear project
29 Oct 2020Romania and France have signed a declaration of intent to cooperate in the construction of Units 3 and 4 and the refurbishment of Unit 1 at the Cernavoda nuclear power plant in Romania. In addition, Nuclearelectrica has signed an agreement with French company Orano. A similar agreement was reached with the United States earlier in October 2020.
Read moreOman launches a 400 kV line project to tie north and south power grids
29 Oct 2020OETC, Oman Electricity Transmission Company (51% Nama Holding, SGID 49%), has awarded contracts worth OMR183m (US$476m) for the first phase of the Rabt transmission project, which aims to connect Oman’s north and south electricity transmission networks. The project will link up the national grid in the north with the electricity transmission network of Petroleum Development of Oman Company (PDO) – which is based on 132 kV voltage – and the Tanweer network in the Al Wusta region in addition to the Special Economic Zone at Duqm (Sezad) electricity network in the Wilayat of Duqm.
Read moreThe US approves ConocoPhillips’s Willow oil project in Alaska
29 Oct 2020The US authorities, through the Bureau of Land Management (BLM), have given the final environmental approval for ConocoPhillips’s Willow oil project in the National Petroleum Reserve in Alaska (United States). The plan allows for up to 3 drill sites and associated processing and support facilities, including and pipelines to provide access to federal leases and allow for oil and gas development and operations. The project could produce up to 160,000 bbl/d, with a processing capacity of 200,000 bbl/d over the next 30 years, producing a total of 590 mbl of oil.
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