Daily Energy News
Policy & Regulatory
The Philippines implements a moratorium on new coal-fired power plants
30 Oct 2020The Philippines has decided to cease coal-fired power plant developments. The moratorium on new coal-fired power plants will not concern projects that are already approved or that have secured permits.
Read moreChina’s 14th Five-Year Plan will include carbon intensity cut targets
30 Oct 2020China will set a national goal on carbon intensity (i.e. CO2 emissions per unit of GDP) reduction to reach its CO2 emissions peak before 2030 and achieve net zero carbon emissions before 2060. The national target will be included in the 14th Five-Year Plan for National Economic and Social Development (2021-2025). In addition, the country will come up with mandatory targets for regions to reduce carbon intensity and to ramp up inspections.
Read moreSouth 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 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 moreCompanies
The European Commission clears the sale of Viesgo (Spain) to EDP
30 Oct 2020The European Commission has authorised, under the EU merger regulations, the Portuguese energy group EDP to acquire the Spanish power company Viesgo, considering that the proposed acquisition would not raise any competition concerns. In July 2020, EDP reached an agreement with Macquarie Infrastructure and Real Assets (MIRA) to acquire MIRA’s entire stake in Viesgo for €2bn including debt (net equity investment of €900m).
Read moreEDF’s reactor lifetime expansion plan will cost €49.4bn (France)
30 Oct 2020EDF has revised upward the cost of the Grand Carénage programme by 2.5% from €48.2bn to €49.4bn. The plan, which runs from 2014 to 2025, aims at enhancing reactor safety and continuing nuclear fleet operations beyond 40 years. The new estimate is based on the first findings on the works to be conducted, as EDF is carrying out the periodic safety review of its 900 MW reactors.
Read moreInfrastructure & Investments
State Grid commissions a new 2 GW transmission line in Northwest China
30 Oct 2020The Chinese power transmission network operator State Grid has commissioned the Altay-Zhunbei 750 kV power transmission and transformation project in the Xinjiang Uygur autonomous region (Northwest China). The 341 km line, which required a CNY1.67bn (US$250m) investment, is expected to improve power transmission capacity to other regions by 2 GW.
Read moreSouth Africa commissions an 800 MW unit at the Kusile coal-fired power plant
30 Oct 2020The South African state-owned power utility Eskom has commissioned the second 800 MW unit of the Kusile coal-fired power plant in South Africa.
Read moreEuropean Energy’s 300 MW solar project in Denmark gets green light
30 Oct 2020European Energy’s 300 MW solar project near Kassø (Denmark), southwest of Rødekro, has received approval from the municipality of Aabenraa, in Southern Jutland. Investments total more than DKK1bn (€134m). Construction is expected to start in early 2021 and grid connection should take place before the end of 2021.
Solar accounts for 6.5% of Denmark’s total installed capacity, with 1.1 GW (2019).
Read moreVineyard Wind moves ahead with its 800 MW offshore wind project (US)
30 Oct 2020Vineyard Wind, a 50:50 joint venture between Copenhagen Infrastructure Partners and Avangrid Renewable (an affiliate of the Spanish energy group Iberdrola) has executed an interconnection agreement with the power transmission company ISO New England (ISO-NE) for its 800 MW Vineyard Wind 1 offshore wind project to be located 24 km off the coast of Martha’s Vineyard, in Massachusetts (United States). The deal, which was approved by the Federal Energy Regulatory Commission (FERC) in September 2020, will allow Vineyard Wind to connect the offshore wind project to the New England power grid.
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