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FPL (US) will develop 1.5 GW of solar capacity by mid-2021
6 Mar 2020The Florida Public Service Commission (FPSC) (United States) has approved Florida Power & Light Company’s (FPL) plans to launch its community solar program SolarTogether. As part of the plan, FPL will add 20 new solar power plants, totalling 1,490 MW, by mid-2021 for a construction cost of US$1,752m (US$1,176/kW). The 20 parks will be divided into 5 groups with an individual project capacity of 74.5 MW.
Read moreEnergy & Climate Markets
OPEC recommands 1.5 mb/d oil production cut until mid-2020
6 Mar 2020The Organization of the Petroleum Exporting Countries (OPEC) has met and proposed a further cut in crude oil production, after the coronavirus outbreak curbed global oil demand growth forecast for 2020 from 1.1 mb/d (December 2019 forecast) to 0.48 mb/d in 2020. Accordingly, the OPEC conference will recommand a further adjustment of 1.5 mb/d until 30 June 2020 to the next OPEC and non-OPEC meeting; the cut would be applied pro-rata between OPEC members (1 mb/d) and non-OPEC producing countries (0.5 mb/d).
Read moreColombian coal output decreased by 2% in 2019
6 Mar 2020According to the Colombian Ministry of Mines and Energy, coal production in the country decreased by 2% to 82.4 Mt in 2019. This decline in coal production was mainly caused by a drop in output at one of the main mines, as a judicial ruling prevented mining operations at the Cerrejon mine from being extended. In addition, the drought and high temperatures forced open-pit mines to cut production and to interrupt mining activity to reduce dust pollution. The average price of thermal coal decreased from US$82.5/t in 2018 to US$51.4/t in 2019.
Read moreEnergy Prices & Taxes
The Netherlands doubles upcoming renewables subsidy round to €4bn
6 Mar 2020The government of the Netherlands plans to increase the amount of money available under its upcoming renewables subsidy round from €2bn to €4bn, and to create a €4,000 subsidy for buyers of new electric cars.
Read moreInfrastructure & Investments
Nigeria will issue a guarantee for the US$2.6bn AKK gas pipeline project
6 Mar 2020The Nigerian government plans to issue a sovereign guarantee to back 85% of the US$2.6bn construction cost of the Ajaokuta-Kaduna-Kano gas pipeline project. The guarantee will be funded by a 15-year loan from the China Export and Credit Insurance Corporation (Sinosure). The remaining 15% will be financed by the Nigerian National Petroleum Corporation (NNPC).
Read moreUzbekistan seeks investors for 1.5 GW CCGT power project
6 Mar 2020The Government of Uzbekistan is looking for an investor to develop a 1,500 MW CCGT power plant in the Sirdarya region, in the east of the country. The project would be developed under a public-private partnership (PPP) and would cost around US$1.1bn.
Read moreNamibia and Angola aim to start building 600 MW binational dam in 2021
6 Mar 2020The Ministry for Energy and Water of Angola expects the construction of the US$1.2bn Baynes bi-national hydropower project to start in 2021. A public tender to select the construction company should be launched soon. The 600 MW dam would be built on the Cunene River between Angola and Namibia, and, under the terms of the agreements approved by the two governments, each country would be entitled to 300 MW of capacity.
Read moreCNNC completes hot testing at Fuqing-5 nuclear reactor (China)
6 Mar 2020China National Nuclear Corporation (CNNC) has completed hot testing at the fifth unit of the Fuqing nuclear power plant in the Fujian province of China. The 1,087 MW (1,150 MW gross) Hualong One reactor, the first in the world, passed the cold hydrostatic testing phase in May 2019.
Read morePolicy & Regulatory
European Commission presents its Climate Law targeting climate neutrality
5 Mar 2020The European Commission has presented the European Climate Law, which proposes a legally binding target of net zero greenhouse gas (GHG) emissions by 2050.
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