Spot prices fall on increasing wind and solar volumes
The European power price fell on Thursday as a result of the expectation that wind and solar energy will be more available in the days ahead. This overshadowed the effect of the rising demand due to the cooling temperatures. At 0820 GMT, the price of German baseload electricity for Friday had fallen by 71.1% to 17.0 euros per Megawatt Hour (MWh). The French equivalent contract was 21.0 euros/MWh down 16.8%. LSEG data indicated that the German wind power production was expected to be 41.1 gigawatts on Friday compared to 30.5 GW Thursday. In Germany and France, solar output is expected to increase by 2.7 GW per day to reach 11.2 GW.
Greenpeace reports that China has reduced new coal power plant approvals by almost 80%.
A report by an environmental group shows that China, the largest coal-fired power station builder in the world, has cut the number permits for new plants almost 80% during the first half 2024. The report says time will tell if this is a turning point. Based on data from new project approvals, the Greenpeace East Asia Report also found that China's combined solar and wind capacity of 11.8 Terawatts (TW), exceeded coal capacity (11.7TW), for the first in the first half. This capacity accounted for 84.2% all new grid-connected power. The report released on Tuesday shows that China also commissioned 14 coal power plants, with a total of 10.3 gigawatts of capacity.
Pick your Poison: NOAA Study Finds Less Air Pollution brings more Hurricanes
A new study from NOAA finds that reducing air pollution in North America & Europe brings more hurricanes; increased pollution in Asia reduces tropical cyclonesA NOAA study published in the journal Science Advances about four decades of tropical cyclones reveals the surprising result that reducing particulate air pollution in Europe and North America has contributed to an increase in the number of tropical cyclones in the North Atlantic basin and a decrease in the number of these storms in the Southern Hemisphere. The study also found that…
What to Expect from the US Offshore Wind Market This Year
After many false starts, the U.S. offshore wind market is building strong roots for a solid future. But as the market develops from its current northeast and mid-Atlantic niche new opportunities and challenges arise.The U.S. offshore wind market has long been seen as not delivering on its significant potential. With an offshore wind technical potential of more than double that of the country’s total annual electricity sales, the U.S. has long been seen as having the potential to be a major player in the global offshore wind market. However…
Wave Energy Developer Plots Strong Growth Plan in '22, IPO in '23
South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015. Additional international projects will see expansion across four continents throughout 2022 and beyond.This includes a Vietnamese and Korean initiative in Quang Ngai province - through a five-party MoU involving Quang Ngai People’s Committee, INGINE, SK Innovation, Doosan Vina and VinGroup…
Floating Solar: DNV Advises on Indonesian Floating Solar Photovoltaic Project
Floating solar photovoltaic (PV), initially considered a niche technology, is now the fastest-growing solar PV category, alongside ground-mounted utility-scale solar and rooftop PV. As of August 2020, more than 60 countries have actively pursued the deployment of floating PV, with more than 35 installing an estimated 350 operational floating PV systems, equal to a total 2.6 GW of installed capacity. DNV acted as the Lender’s Technical Advisor, during the development phase, for Indonesia’s first-ever floating solar photovoltaic (PV) project at Cirata Reservoir in West Java. The project owner, PT.
Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery
Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conference on Tuesday.Global demand for oil is likely to recover from the second half of the year and could reach 99 million barrels per day (bpd) in 2022, Amin Nasser said at IHS Markit's online CERAWeek conference.Diesel demand has recovered globally due to door-to-door deliveries, though jet fuel lags as people avoid long flights, said Chevron CEO Michael Wirth, who spoke on a panel with Nasser.Oil demand improving in China, India and East Asia, with vaccine deployment as "cause for optimism" in the West, Nasser said.(Reporti
Forum Bags Trenching System Contract for Cable Maintenance Project in SE Asia
Forum Energy Technologies won an order to supply subsea equipment for a major cable maintenance project in South East Asia, specifically a Perry XT500 trenching system and Dynacon Launch and Recovery System as well as associated surface power and control installations. The XT500 trenching system has a 3,000m depth rating and three meter ROV burial capability on the ocean floor. It uses Forum’s Integrated Control Engine (ICE) and has 500 HP power.The vehicle will be manufactured at Forum’s facility at Kirkbymoorside, Yorkshire and installed onboard the client’s vessel in early 2021.As part of the workscope…
Gastech Postponed for 2021
Gastech, one of the world's largest gas, LNG and energy industries events has been postponed for 2021 due to the COVID-19 pandemic.The event was expected to take place in Singapore in September this year, however, the organizers have now decided to delay the event to September 13 to 16, 2021.Organizers dmg events said the decision had been based on concerns around the global pandemic, accessibility and for the wellbeing of speakers, delegates, exhibitors and visitors. Nick Ornstien, Vice President Energy for dmg events, said: "The postponement of Gastech 2020 gives the gas…
Denmark, Vietnam Talk Offshore Wind Expansion
Denmark and Vietnam are working on finding ways to further boost Vietnam's offshore wind development, which according to the Danish Energy Agency, has a potential of 160 GW offshore wind. As part of the effort, the Danish Energy Agency and the Vietnamese Electricity and Renewable Energy Authority are preparing an Input to Roadmap report for offshore wind development in Vietnam. The Danish Energy Agency and Vietnamese authorities on Tuesday organized a webinar to discuss the most important governmental steps to move the expansion of offshore wind forward.
Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come, with South and South-east Asia generating more than half of the increased demand.Natural gas emits between 45 and 55% fewer greenhouse…
Wood Group Sees Higher Annual Earnings
Oilfield services provider John Wood Group Plc expects higher core earnings in 2019, with strong performance in its engineering services unit in the Middle East, Asia and the Caspian region offseting slowing U.S. onshore drilling demand.The Aberdeen-headquartered company said on Thursday adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is expected to be in a range of $850 million to $860 million for the year ended Dec. 31, compared with $693.8 million a year earlier.(Reporting by Shanima A in Bengaluru; Editing by Subhranshu Sahu)
Europe Dominates LNG Import Story in 2019
Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019, up from 314.9 million tonnes in 2018.This represents the largest ever increase in production.While East Asian, especially Chinese, demand increased in 2017 and 2018 to absorb additional production, there was little change this year. Instead, supply pushed into Europe reached a record high, having a major impact on regional hub pricing with price correlations growing between Europe and Asia.Qatar wins outIn the battle for top exporter…
Airswift Eyes APAC Growth
Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, announced two senior hires to build upon recent successes in the Asia Pacific (APAC) region. Fueled by the region’s energy and infrastructure markets, the appointments follow 20% year-on-year growth for the company.Based in Brisbane, Ryan Carroll has been appointed as Regional Director, Australia & New Zealand, where he will be responsible for all in-country operations. Carroll has four years’ recruitment experience in Australia across industries such as civil engineering…
SE Asia to Expand Floating Solar Set to Grow
Floating solar photovoltaic (PV) panels are making a splash in Southeast Asia. Development of floating solar PV power plants is expected to increase 100-fold in the region over the next five to 15 years, according to energy research firm Rystad Energy. Projects plans are in the works in Thailand and Vietnam as large-scale floating PV installations, with smaller utility-scale floating PV developments being proposed in Indonesia, Singapore and Myanmar.Rystad Energy expects large-scale floating PV developments, typically installed on dams and reservoirs…
GATE Energy Moves into Singapore
GATE Energy, a player in oil and gas engineering, commissioning and specialty field services, announced the opening of its new Singapore office."This marks the first permanent location for the GATE Energy family of companies outside of the United States," said a press release.Since GATE Energy first opened its office in North America in 2000, it has continued to forge partnerships and attract customers from multiple sectors of the energy value chain.The new office expansion enables GATE Energy to solidify its international growth by setting roots in Singapore to support our projects and customers in South East Asia and around the world…
ALE Installs WTG in Australia
The global heavylift and transportation provider ALE Heavylift said that its K1650L tower cranes have begun work to install wind turbine generators (WTG) near Port Augusta in southern Australia, where they will help to power 155,000 homes.It is the first time this type of crane has been used for wind turbine installation in Australia. ALE has brought two of the innovative cranes to the country, where one recently commenced work at Lincoln Gap Wind Farm.The K1650L tower crane was selected for the project due to its high wind speed tolerance and small footprint.
Mainstream Names Asia-Pacific Head
Irish wind and solar projects developer Mainstream Renewable Power has appointed Raghuram Natarajan chief executive of its Asia-Pacific business."This key appointment to the Group’s Leadership Team, based out of its newly opened regional headquarters in Singapore, comes ahead of significant expansion plans for the region," said a press release.Natarajan brings a decade and a half of senior leadership experience in the wind and solar industry across India, Thailand, the Philippines, Malaysia, Taiwan, South Korea, Japan and Australia.His most…
Sun Cable Eyes World’s Biggest Solar Project
World's largest solar project proposed in Australia, connected to South East Asia via subsea cable.Singapore-based Sun Cable has proposed a 10 GW solar farm near Tenant Creek in Australia, with facilities to export electricity via a subsea High Voltage Direct Current (HVDC) cable straight to Singapore.Rystad Energy said that the proposed renewable energy project will provide one fifth of Singapore’s electricity needs.In terms of size, the only solar project of a similar scale in Australia is the Asian Renewable Energy Hub which plans to supply a regional load to the Pilbara region…
DNV GL Supports Asia's Largest Solar Floater
DNV GL, the international accredited registrar and classification society, said that it has been appointed by PUB, Singapore’s national water agency, as technical adviser for a 50MW floating photovoltaic (PV) project tender in Singapore.The first-of-its-kind 50 MW project, south-east Asia’s largest floating PV, could reduce Singapore’s carbon footprint by the equivalent removing 6,000 cars off local roads."Once completed, the floating solar project will be one of the largest single floating solar systems in the world and will feature a pioneering business model consisting of both conventional and renewable energy components…
