Latest Energy News
Policy & Regulatory
Virginia’s new renewable law targets over 20 GW of renewable capacity (US)
15 Apr 2020The governor of the US state of Virginia (8.5 million inhabitants) has signed the Virginia Clean Economy Act into law that aims at boosting the state’s renewable power capacity, by raising the limit for generation capacities that are declared to be in the public interest from 5,000 MW to 16,100 MW for solar and onshore wind and from 16 MW to 3,000 MW for offshore wind.
Read moreIREDA replaces SECI for 12 GW CPSU solar PV scheme (India)
15 Apr 2020The Ministry of New and Renewable Energy (MNRE) of India has transferred the implementation of the second phase of the 12 GW Central Public Sector Undertaking (CPSU) scheme from the Solar Energy Corporation of India (SECI) to the Indian Renewable Energy Development Agency (IREDA). Under this scheme, India plans to add 4 GW per year of new solar capacity between 2019-2020 (April 2019-March 2020) and 2022-2023.
Read moreChile’s updated NDC strengthens GHG emissions cap by 2030
14 Apr 2020The government of Chile has presented its updated Nationally Determined Contribution (NDC), presenting its climate commitments to 2030 with a view to achieving carbon neutrality by 2050. The updated NDC replaces the previous emission intensity indicator (conditional and unconditional) with unconditional absolute indicators, with a goal of 95 MtCO2eq by 2030 (compared to a target of 123 MtCO2eq by 2030 in the previous NDC), an emissions maximum in 2025, and a greenhouse gas (GHG) emissions budget of no more than 1,100 MtCO2eq over the period 2020-2030.
Read moreSingapore intends to import solar electricity to cut GHG emissions
14 Apr 2020Singapore plans to import solar electricity, with the objective to diversify its energy supply and reduce its greenhouse gas (GHG) emissions. Singapore’s Energy Market Authority (EMA) also ambitions to reach 2 GW of solar PV capacity by 2030, up from 255 MW at the end of 2019 and 350 MW expected at the end of 2020. In 2018, the country generated 95% of its electricity from imported gas and 3% from biomass. Singapore is connected to Peninsular Malaysia through a 200 MW line, which is not used.
Read moreCompanies
Shell plans to create an LNG import JV with GCL Group in China
15 Apr 2020Shell has signed a preliminary agreement with GCL Oil & Natural Gas to create a joint venture (JV), which would market and trade liquefied natural (LNG) in eastern China. The JV would receive LNG deliveries from Shell and market fuel to GCL’s planned LNG terminal in Jiangsu province.
Read moreEnergy & Climate Markets
Japan’s GHG emissions decreased by 3.9% in 2018-2019
15 Apr 2020According to the Japanese Ministry of the Environment, Japan’s greenhouse gas (GHG) emissions decreased by 3.9% in the financial year 2018-2019 (April 2018-March 2019) to 1,240 MtCO2eq, their lowest level since 1990-1991. It represents a 12% decline compared to the financial year 2013. It is the fifth year in a row of decline, which is mainly driven by the increased use of renewable energies, the restart of nine nuclear reactors and a lower energy demand thanks to a warmer winter.
Read moreIndia will buy 19 mbl of oil for its strategic petroleum reserves
15 Apr 2020The government of India plans to move 19 mbl of oil into its strategic petroleum reserves (SPR) by the end of May 2020, filling them completely, in order to help the country’s refineries reduce their excess crude. The SPR, which is an affiliate of India’s Oil Industry Development Board, owns three storage sites in southern India with a capacity of 37 mbl, corresponding to 9.5 days of the country’s oil consumption.
Read moreInfrastructure & Investments
Shell withdraws from a JV deal with Gazprom in Arctic Russia
15 Apr 2020Shell has withdrawn from a proposed joint venture (50-50 JV) with Gazprom to develop license blocks in the Yamal-Nenets Autonomous Okrug in the Russian Arctic, due to the fall in oil prices and the coronavirus epidemic. As part a preliminary agreement deal signed in June 2019, Shell was supposed to acquire a 50% stake in the share capital of Meretoyakha Neftegaz, which holds licensing rights to the Meretoyakhinskoye field, along with license blocks at various stages of development, namely the Tazovsky and Severo-Sambrugsky blocks, and two Zapadno-Yubileiny blocks in the Yamalo-Nenets area.
Read moreOver 6.3 GW of renewable power projects have been proposed in Egypt
15 Apr 2020The New and Renewable Energy Authority (NREA) of Egypt has received construction permit requests for a total of 6,340 MW of power projects. Over 40% of this volume (2,750 MW) is developed by the private sector, including 1,950 MW of wind projects and 800 MW of solar PV projects.
Read moreEngie acquires Vilvorde gas-fired power plant (Belgium) to expand it
15 Apr 2020Electrabel (Engie) has reached an agreement with EM Generation Brussels (EMGB) to acquire its 255 MW Vilvoorde gas-fired power plant. The transaction is expected to close by the summer 2020.
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