Latest Energy News
Policy & Regulatory
Sri Lanka launches 150 MW solar tender
10 Mar 2020Sri Lanka has published a request for proposals for 150 MW of solar capacity. As part of the third phase of the Battle for Solar Energy programme, state-owned power utility Ceylon Electricity Board (CEB) intends to build 20 solar power projects ranging from 3 MW to 10 MW under a build, own and operate (BOO) model. The solar projects will be built in various locations and each of them will be connected to different grid substations. CEB has set the ceiling price at LKR15.6/kWh (US$8.6c/kWh) and will readjust 80% of the proposed tariff based on LKR/US$ fluctuations.
Read moreManitoba (Canada) implements flat CAD25/t carbon tax
9 Mar 2020The Canadian province of Manitoba (1.4 million inhabitants) has decided to introduce a flat CAD 25/tCO2 (US$19/tCO2) carbon tax as of 1 July 2020, and to cut the provincial sales tax (PST) from 7% to 6%, saving Manitobans CAD325m/year (US$242m/year), i.e. CAD40m (US$30m) more than the cost of the carbon tax.
Read moreGermany may miss its climate target for 2030
9 Mar 2020According to the German Federal Environment Ministry, the country’s 2030 climate protection programme is expected to reduce Germany’s greenhouse gas (GHG) emissions by 51% by 2030 compared to 1990 (from 1,252 MtCO2eq in 1990 to 614 MtCO2eq in 2030), falling short to achieve the target of at least 55% reduction by 2030 (down to 543 MtCO2eq).
Read moreCompanies
India invites bids for the sale of 53% in oil refiner BPCL
10 Mar 2020India has launched the privatisation process of Bharat Petroleum Corporation Limited (BPCL), the second largest oil refining and fuel retailing company in the country, with the publication of an invitation to bid. The government owns a 53% stake in the company. BPCL operates four refineries at Mumbai, Kochi (Kerala), Bina (Madhya Pradesh) and Numaligarh (Assam). Moreover, it operates around 15,000 service stations (23% of the total oil stations in India) and around 6,000 LPG distributors (25% of the total).
Read moreEnergy & Climate Markets
OPEC and Russia fail to agree on deeper crude oil production cut
10 Mar 2020The Organisation of the Petroleum Exporting Countries (OPEC) and Russia have failed to agree on a further cut in crude oil production in order to straighten crude oil prices. 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, the 14 OPEC countries proposed a further cut in crude oil production of 1.5 mb/d until 30 June 2020 to the next OPEC and non-OPEC meeting.
Read moreUS NRC allows Peach Bottom nuclear reactors to operate until 2054
10 Mar 2020The US Nuclear Regulatory Commission (NRC) has granted a 20-year license extension for the two reactors (units 2 and 3) of Exelon Generation’s Peach Bottom nuclear power plant in Pennsylvania (United States). The two reactors, rated 1,232 MW and 1,251 MW respectively, were both commissioned in 1974 and were recently upgraded to increase their capacity by around 12%.
Read moreIndonesia may face power oversupply as electricity demand slows down
10 Mar 2020According to the Ministry of Energy of Indonesia, the slowdown in the country’s electricity demand (+4.5% in 2019 against a government target of +6.3%, and +3.8% only in January 2020) at a time when new power capacities are being commissioned may result in state-owned power utility PT PLN generating more power than needed. Some islands such as Java and Bali may be over-supplied by up to 41.5% in 2020, while Halmahera may be over-supplied by 202%.
Read moreInfrastructure & Investments
Berkshire Hathaway scraps investment in 11 Mt/year LNG project in Canada
10 Mar 2020Berkshire Hathaway (led by Warren Buffett) has decided to abandon plans to invest CAD 4bn (US$2.9bn) in a CAD 9bn (US$6.6bn) liquefaction project at Port Saguenay, in Quebec (Canada), citing Canada’s current political context, political opposition and resistance from environmental groups and Indigenous people, and current low oil and
Read moreRWE plans to invest in PPC’s renewable projects in Greece
10 Mar 2020The German energy group RWE has signed a memorandum of understanding with Greece’s state-owned power utility Public Power Corporation (PPC) to cooperate on the development of renewable projects in Greece. RWE intends to invest €1bn in the Greek renewable market by 2025. As part of the preliminary deal, RWE could participate in 2.5 GW of solar projects developed by PPC near its mines in Ptolemaida (Western Macedonia). In addition, the company is interested in helping PPC to transform some of its lignite-fired units into biomass-fired plants.
Read morePeru moves ahead with three power transmission line projects
10 Mar 2020The Ministry of Energy and Mines of Perus has signed concession contracts for three high voltage power lines with Cobra’s affiliate La Niña SAC, with the objective of strengthening electricity supply in the departments of Tumbes, Piura, Huánuco and Ucayali. As part of the agreement, the company will build and operate the 500 kV La Niña-Piura line (87 km) in northern Peru, a section of the first 500 kV interconnection with Ecuador, which will be extended with the Piura Nueva – Frontera line; ProInversion will tender the concession for this new section in the next few months.
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