Daily Energy News
Policy & Regulatory
China launches new consultations on a national carbon ETS
6 Nov 2020The Chinese Ministry of Ecology and Environment (MEE) has launched a consultation plan for a national emissions trading scheme (ETS). Under the new draft rules, participation in the ETS will be mandatory for companies above a cut-off point of 26,000 tCO2eq/year, equivalent to a consumption of 10,000 tce/year. Companies will have to issue emissions reports, subject to information disclosure and verification requirements. The MEE will determine a methodology and standards to allocate carbon emissions allowances.
Read moreNigeria privatises a 726 MW gas-fired power plant for US$273m
6 Nov 2020The Nigerian government, through the Bureau of Public Enterprises (BPE), has sold the 726 MW Afam IV-V gas-fired power plant for a total consideration of NGN105bn (US$273m) to Transcorp.
Read moreSpain approves a decree creating a new renewable auction system
5 Nov 2020The Spanish Council of Ministers has approved a decree establishing a new regulatory framework for renewable energy auctions, the Economic Renewable Energy Regime (Régimen Económico de Energías Renovables, REER). The text creates a “pay as bid” system in which bids will be submitted sealed, and the winners will receive different prices based on their offers. The new scheme allows hybridisation between technologies, the expansion and modification of existing plants and will be compatible with electricity storage.
Read moreCompanies
Iberdrola (Spain) will invest €75bn to double its renewable capacity
6 Nov 2020The Spanish energy group Iberdrola has launched a €75bn investment plan to 2025. Almost €35bn (51%) will go to renewables and €27bn (40%) to networks. Iberdrola intends to nearly double its renewable power capacity from 32 GW in 2019 to 60 GW in 2025, including 26 GW of onshore wind, 4 GW of offshore wind, 16 GW of solar, and 14 GW of hydro. This renewable boost should reduce Iberdrola’s carbon factor by 86% by 2030 to 50gCO2/kWh; the group will offset emissions by planting trees to become carbon neutral by 2030.
Read moreGreece’s DESFA buys a 20% stake in the Alexandroupolis LNG project
6 Nov 2020The Greek gas transmission system operator DESFA has signed an agreement to acquire a 20% stake in Gastrade, which develops the Alexandroupolis LNG import terminal project in northern Greece. The transaction is subject to regulatory approvals. In August 2020, the Bulgarian state-owned gas transmission system operator Bulgartransgaz agreed to buy a 20% stake in the project.
Read moreØrsted raises US$524m for a 900 MW offshore wind project in Taiwan
5 Nov 2020The Danish energy group Ørsted has raised TWD15bn (US$524m) through the issuance of green bonds to finance the Changhua 1 and 2a offshore wind projects offshore Taiwan, which will include two phases of roughly 450 MW each. The plants will be located approximately 35-60 km off the coast of Changhua County and are expected to be commissioned in 2021 and 2022.
Read moreEnergy & Climate Markets
CTGPC fully commissions the 22.5 GW Three Gorges dam (China)
6 Nov 2020China Three Gorges Power (CTGPC) has officially fully commissioned the 22.5 GW Three Gorges hydropower project on the Yangtze River (China). The project, which consists of a dam, a five-tier ship lock and 34 turbines, has passed all acceptance tests. The construction of the project began in 1994 and started generating electricity in 2003. Construction was completed in 2009.
Read moreInfrastructure & Investments
The US Army Corps approves a 1.2 GW NECEC power transmission line project
6 Nov 2020The United States Army Corps of Engineers has issued the federal environmental permit for Hydro-Québec’s New England Clean Energy Connect (NECEC) power transmission line project, which is aimed at delivering up to 1,200 MW of electricity generated at Hydro-Québec’s hydropower plants in Canada to the New England energy grid in Maine. The Army Corps permit clears the way for the launch of construction work in Maine.
Read moreChina Gezhouba starts building a 1.5 GW CCGT plant in Uzbekistan
6 Nov 2020The Chinese company China Gezhouba Group Corporation (CGGC) has launched the construction of a 1.5 GW gas-fired CCGT power project near Shirin, in the Sirdarya region, east of Uzbekistan. The company will build the power plant on a turnkey basis, while the Japanese group Mitsubishi Power will supply two gas turbines. The project is expected to generate 10 TWh/year of electricity.
Read moreDenmark’s water utility Hofnor plans a 180 MW solar project
6 Nov 2020Hofor, a Danish water utility, plans to develop a 180 MW solar power project on land owned by the Sorø Academy Foundation north of Fjenneslev and Vestmotorvejen. The power project, which needs to secure regulatory approvals, is expected to be completed in 2024 and will be one of the largest solar parks in the country. In October 2020, European Energy’s 300 MW solar project near Kassø received approval from the municipality of Aabenraa, in Southern Jutland. Construction is expected to start in early 2021 and grid connection should take place before the end of 2021.
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