Latest Energy News
Policy & Regulatory
Israel releases a US$23bn solar development plan to 2030
3 Jun 2020The Israeli government has presented an ILS80bn (US$23bn) plan to increase the share of solar in the power generation to 30% by 2030, when solar power should cover more than 80% of the country’s electricity needs at peak hours. Most of the funding will go to solar plants, which will be built by private operators. In addition, the government will finance the upgrade of the national grid and investments in energy storage. Israel aims at reaching 16 GW of solar capacity by 2030. In parallel, coal-fired generation will be completely phased out.
Read moreDominican Republic plans to tender 400 MW of renewables capacity
3 Jun 2020The government of the Dominican Republic plans to relaunch a 400 MW renewable tender before the end of 2020. The auction was originally planned in early 2020. The selected project will be awarded a 20-year contract in US dollars.
In 2019, the country pledged to achieve to achieve 70% of renewables in total energy use by 2030. As of May 2020, renewables accounted for 19% (893 MW) of total capacity (4.7 GW), with 629 MW of hydro and 166 MW of solar.
Read moreUzbekistan’s low-carbon strategy aims to raise renewable power generation
2 Jun 2020The Ministry of Energy of Uzbekistan has announced a new national Low-Carbon Energy Strategy, which was set up with the assistance from the European Bank for Reconstruction and Development (EBRD). The Low-Carbon Energy Strategy aims at raising the share of renewables in the country’s energy consumption and improving energy efficiency.
Read moreAlbania selects Voltalia to develop 140 MW solar power project at €2.5c/kWh
2 Jun 2020The Ministry of Infrastructure and Energy of Albania has concluded its international auction for the development of the 140 MW Karavasta solar project near Divjaka and has selected Voltalia, which won with a record low bid of €24.89/MWh, i.e. less than half the €55/MWh auction ceiling. The solar tender was arranged by the European Bank for Reconstruction and Development (EBRD) and was launched in January 2020. Voltalia was the sole of five final bidders to meet the technical criteria for the project. The €100m project will be developed on two sites in the Divjaka and Fier municipalities.
Read moreCompanies
CNOOC will not pre-empt sale of Tullow’s Lake Albert assets in Uganda
3 Jun 2020China’s CNOOC has notified Tullow and Total that it will not pre-empt the sale of Tullow’s assets in Uganda to Total. The Chinese company had a pre-emption right on 50% of the transaction.
Read moreAlgeria’s Sonatrach becomes main shareholder in Medgaz gas pipeline
3 Jun 2020The Spanish energy group Naturgy and the Algerian national oil and gas company Sonatrach have completed the acquisition of the 42.09% stake held by Abu Dhabi state-owned holding Mubadala (United Arab Emirates) through Cepsa in Medgaz, which operates the 8 bcm/year gas pipeline linking Beni Saf (Algeria) to Almeria (Spain). Sonatrach, which owned 42.96% in the company, acquired 8.04% in Medgaz, raising its interest in the gas pipeline to 51%. Naturgy, which owned a 14.95% stake in Medgaz, acquired 34.05% in the company for €445m, reaching 49% in Medgaz.
Read moreEnergy & Climate Markets
Uniper plans to return Irsching CCGT plant to the market (Germany)
3 Jun 2020Uniper has decided to return its mothballed Irsching 4 and 5 gas-fired power plants in Bavaria (Germany) to the market on 1 October 2020, as a fall in gas prices allows better commercial operations.
Read moreInfrastructure & Investments
Peru plans to invest US$1.3bn in new power grid projects over 2021-2030
3 Jun 2020The National Interconnected System Financial Operation Committee (COES), which is responsible for the Peruvian electric grid development, has released its preliminary 2021-2030 transmission plan, which would require US$1.3bn of new investments. Ten of the projects envisioned by the plan are expected to start in 2021-2022 and to be commissioned by 2026, for a total investment of US$690m.
Read moreSumitomo plans to bid for a 480 MW offshore wind plant (Japan)
3 Jun 2020The Japanese trading house Sumitomo Corporation has formed a consortium with Inpex, Japan Petroleum Exploration (JAPEX), TEPCO Renewable Power, JR-East Energy Development (a unit of East Japan Railway) and three other companies to jointly bid at a planned auction for a 480 MW offshore wind plant project near Noshiro, Mitane and Oga in Akita, in northern Japan. The 480 MW offshore wind project would be commissioned in 2026.
Read moreIndonesia ends partnership with Saudi Aramco to expand Cilacap refinery
3 Jun 2020Indonesian state-owned oil corporation Pertamina has ended its partnership with Saudi Aramco to upgrade its Cilacap refinery in Central Java. The company is now looking for a new strategic partner, and still hopes to complete the 52,000 bbl/d expansion by 2025.
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