Latest Energy News
Policy & Regulatory
New York State (US) awards 21 renewable and storage projects (1,278 MW)
The New York State Energy Research and Development Authority (NYSERDA) (United States) has awarded 21 solar, wind and energy storage projects across the state, totalling 1,278 MW of power capacity. The auction, totalling US$1bn in State investment, will lead to more than US$2.5bn in private investment.
Read moreSix EU countries call for a 100% renewable energy scenario by 2050
Austria, Denmark, Ireland, Lithuania, Luxembourg and Spain are calling for the European Commission to introduce a 100% renewable energy scenario in long-term climate projections to 2050. With the objective to make Europe’s economy compliant with the Paris Agreement, the European Commission presented eight energy scenarios for 2050 in November 2018, ranging from business-as-usual to net-zero emission cuts. However, none of the eight alternatives comprised a scenario based on 100% renewable energies, most notably in the electricity sector, and only two scenarios achieved climate neutrality.
Read moreIndia ends tariff caps on solar and wind tenders
The Ministry of New and Renewable Energy (MNRE) of India has issued a new regulation authorising the tendering agencies and state utilities to remove tariff cap from wind and solar tenders. The upcoming federal tender (Round Ten) should not include a tariff cap. The decision is not expected to make a major difference for solar auctions, as prices are already quite low (INR2.5/kWh i.e. US$3c/kWh in the latest round) but could lead to a higher tariff for wind.
Read moreNSW (Australia) releases net zero emissions plan by 2050
17 Mar 2020The government of New South Wales (NSW, 8.1 inhabitants) in Australia has released its Net Zero Plan Stage 1: 2020–2030, which aims to achieve net zero emissions by 2050 by attracting investment, cutting residential costs and creating new jobs. It aims at delivering a 35% emissions reduction by 2030 compared with 2005 levels, at a cost of AUD2bn (US$1.2bn).
Read moreChile’s energy efficiency law targets 7% consumption cut by 2035
17 Mar 2020Chile’s new Energy Efficiency Law aims to cut energy consumption by 5.5% by 2030 and by 7% by 2035. It will focus on energy management in large energy consuming sectors, such as cement, mining, forestry and real estate. For buildings, it introduces a voluntary Housing Energy Rating (Calificación Energética de Viviendas or CEV, corresponding to an energy efficiency labelling) that new houses must have to be marketed.
Read moreCompanies
Chile approves sale of electricity distributor to China’s State Grid
The National Economic Prosecutor’s Office (FNE), which regulates and enforces competition regulations in Chile, has approved the sale of Chilquinta Energía by Sempra Energy to State Grid International Development (SGID). In addition, the competition regulator has also accepted the acquisition and the merger of the companies Eletrans, Eletrans II and Eletrans III by Chilquinta Energía.
Read moreSaudi Aramco unveils 2019 results (Saudi Arabia)
Saudi Arabia’s national oil company Saudi Aramco has released its 2019 results, posting a nearly 21% decrease in its net income to US$88.2bn, due to lower crude oil prices and production volumes, reduced refining and chemical margins and a US$1.6bn impairment charge related to the Sadara Chemical Company.
Read moreEnergy & Climate Markets
German GHG emissions decreased by 6.3% in 2019
According to estimates released by the German Federal Environment Agency (Umweltbundesamt, UBA), greenhouse gas (GHG) emissions declined by 6.3% (-54 MtCO2eq) in 2019 to 805 MtCO2eq, the largest annual decrease since 1990. GHG emissions are now 35.7% lower than in 1990; Germany aims to reduce them by at least 55% by 2030, according to the Climate Protection Act.
Read moreKyushu Electric misses deadline on safety measures for Sendai-1 (Japan)
Kyushu Electric has stopped the 890 MW unit 1 of its Sendai nuclear power plant in the Kagoshima prefecture in southern Japan, due to delays in meeting the new regulations on back-up safety measures. In addition, the company will have to shut down Sendai 2 in May 2020.
Read moreInfrastructure & Investments
Golar Power will develop an LNG import terminal in Suape (Brazil)
The government of the state of Pernambuco in north-eastern Brazil has signed a Protocol of Intentions with Golar Power to develop an LNG import terminal in the port of Suape. Pending regulatory approvals and conclusion of commercial agreements, commercial operations could start as early as the second half of 2020.
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