Enel reports 6.5% increase in core profit for the 9-mth period on renewable energy growth
Enel, Italy's largest utility, announced on Wednesday that its core profit for the nine months ended September rose by 6.5% on an annual basis, largely due to a strong production of renewable energy, which compensated more than enough for a drop in retail electricity prices in Italy. EBITDA, excluding extraordinary items, came in at 18.72 billion dollars, a figure that was higher than the consensus estimate of 17.3 billion euro compiled by. The ordinary net income for the period was 5,8 billion euros, exceeding an estimate of only 5.7 billion.
McKinsey says that Europe's power consumption for data centres is expected to triple between now and 2030.
A McKinsey study showed that Europe's data center power consumption will almost triple by 2030. This will require an increase in electricity, mostly from low carbon sources, as well as grid infrastructure upgrades. In the last couple of years, data centre investment has increased as digitalisation (AI) and digitalisation have gained momentum. The question is how the countries will be able to meet the anticipated rise in electricity demands that the increasing number of data centres create. The International Energy Agency states that the United States will see the most growth in data centers…
US unveils first of two decisions regarding solar tariffs
The U.S. Trade officials may this week impose new tariffs against solar panels imported from four Southeast Asian countries. American manufacturers claim that these nations provide unfair subsidies, which make U.S. goods uncompetitive. The Commerce Department is expected to announce its first preliminary decision in this year on a trade case filed by Hanwha Qcells in Korea, Arizona's First Solar, and several smaller companies that are seeking to protect their billions in investments made in U.S. manufacturing of solar panels.
EIA: US power consumption expected to hit record levels in 2024 and 25
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, published on Tuesday, said that the U.S. electricity consumption will reach new records by 2024 and 2025. The EIA projects that power consumption will increase to 4,101 billion Kilowatt Hours (kWh) by 2024, and 4,185 billion in 2025, due to the growing demand for power from data centers, manufacturing, and electrification in transportation and buildings. This compares to 4,000 billion kWh by 2023, and a record setting 4,067 trillion kWh by 2022.
German wind production expected to increase; spot prices not traded
German wind power is expected to double the German electricity supply. LSEG data shows that there were no transactions for German or French baseload power prices on Monday at 0922 GMT. Naser Hashemi, LSEG analyst, says that residual load is expected to drop in Germany and the rest of Europe on Monday as a result of lower consumption and increased wind and solar energy output. LSEG data show that the German wind output will increase by 7.6 gigawatts from Friday to 13,3 GW Monday. The French output, however, is expected to drop 1.1 GW to 2.2 GW. On Monday, the German solar energy supply is expected to increase by 510 megawatts to 13.1 GW.
Russia claims it has disrupted Ukraine’s power grid and weapons supplies with a massive strike
Russia announced on Monday that it had launched a massive attack on Ukraine, which it claimed had disrupted electricity supplies and rail transport of weapons and ammunition to front-line positions. Ukrainian officials claimed earlier that Russia launched over 100 missiles, and approximately 100 drones of attack at Ukraine during morning rush hour. And striking energy plants nationwide. In a press release, the Russian Defence Ministry stated that missiles were fired from air and sea. It also said that gas compressor stations and electricity substations had been hit in three Ukrainian regions.
Report: China's declining coal plant approvals indicate a shift in energy policy
The sharp decline in the number of new coal plants in China indicates that the world's biggest builder polluting power stations is shifting its energy policy to more renewable development. However, coal will continue to play a major part, according a report on Thursday. China approved only 10 new coal-fired plants with a combined capacity of 9 gigawatts in the first six months of 2024, a drop of 83% from the previous year. This is according to the Helsinki-based Centre for Research on Energy and Clean Air and the U.S. Global Energy Monitor. The report showed that China added more than 400 GW in wind and solar power since 2023.
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the supply chain is founded on declared and inferred offshore wind deployment targets by a growing number of countries of over 400 GW, driven by energy transition and energy security policies.2.
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…
UK Gov't Advised to Harness Pandemic to Speed Zero-carbon Aims
From creating jobs in home insulation to hiking dirty fuel taxes and expanding electric-vehicle charging, Britain's government should harness the COVID-19 pandemic to accelerate cuts in planet-heating emissions, an advisory panel said on Thursday.With public support for low-carbon shifts growing and the state spending billions to boost its flagging economy, now is "a once-in-a-lifetime opportunity" to ramp up the transition, said John Gummer, chair of Britain's Committee on Climate Change."If we are to emerge successfully from COVID-19…
Triton Knoll Installs Turbines
UK's Able Seaton Port (ASP) has begun latest transformation into multi-million Triton Knoll turbine base.Preparatory works are underway to transform Able Seaton Port (Able) for its role at the heart of turbine installation for Triton Knoll Offshore Wind Farm.Able Seaton Port was selected by MHI Vestas Offshore Wind in 2018 to be the offshore wind turbine pre-assembly base for the 857MW Triton Knoll Offshore Wind Farm.The 90 turbine Triton Knoll project and MHI Vestas are jointly investing in the works at the Teesside facility…
Dunkirk Port Switches on Cold Ironing
French container line CMA CGM announced that its ship APL Singapura has inaugurated the cold ironing facilities of the Terminal des Flandres in the Port of Dunkirk.By plugging into an onshore electricity supply (also known as "cold ironing"), container ships calling at port can shut down their auxiliary engines while still getting the power they need, particularly in order to maintain controlled temperatures in refrigerated containers (Reefers).This innovative technology has significant environmental benefits, including: Zero emissions of sulfur and nitrogen oxides and fine particles while ships are at berth…
EDF Begins Construction on 450 MW OWF
French utility EDF Group announced that its subsidiary EDF Renewables has launched the construction of the Scottish Neart na Gaoithe (NnG) offshore wind farm project along with the new partners, the Irish electricity company Electricity Supply Board (ESB), which is taking a 50% stake in the project.The 450MW Neart na Gaoithe will consist of 54 turbines and will be located in the North Sea approximately 15 kilometers off the coast of Fife in south-east Scotland.When fully operational, the NnG offshore wind farm will generate the equivalent electricity to power over 375…
E.ON, RWE Renewables Sign Clean Power Deal
Global energy company E.ON has signed an agreement to purchase clean energy from British wind farms of RWE Renewables.The 2.5-year agreement is on purchasing the output of more than 20 British wind farms, supplying sustainable power to the grid and supporting E.ON’s commitment to provide 100% renewable power for its UK customers.With this power purchase agreement (PPA) E.ON buys around 3TWh of power annually from wind farms around Great Britain which are operated by RWE. It covers a capacity of 892MW of onshore and offshore wind generation and includes a proportion of the London Array…
GERE Goes Carbon Neutral
GE Renewable Energy, the renewable energy arm of US industrial technology giant General Electric, announced its plan to make 100 percent of its operations carbon neutral by the end of 2020.GE Renewable Energy will reach carbon neutrality by reducing emissions through operational efficiencies, securing renewable electricity supply to all GE Renewable Energy sites throughout its operations for wind, offshore wind, hydropower, energy storage and grid businesses – and balancing remaining emissions with the purchase of carbon offsets to achieve a net-zero footprint.Jérôme Pécresse…
Partners Group invests in Greenlink
Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector, the subsea connection between Wales and Ireland in exchange for a stake in the scheme.To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain…
Tax Sops for Shore-Side Electricity Supply for Ships in EU
The Transport committee of the European Parliament supported yesterday the removal of tax barriers for the uptake of shore-side electricity supply (OPS) in ports for ships at berth.The Ertug report on the deployment of infrastructure for alternative fuels in the EU which was voted by the Transport committee, pointed out that taxation has a major impact on the price competitiveness of alternative fuels and underlined that disparities in energy taxation for shore-side supply for ships should be addressed.European…
Bosnia Adopts Long-Term Energy Strategy Key to Unlocking EU Funds
Bosnia's central government adopted a long-term energy strategy on Wednesday after years of political wrangling between its two regions, paving the way for major funding from the European Union and other investors."With this act, we completed the adoption of a package of four most important strategies for economic reforms," said Bosnia's Prime Minister Denis Zvizdic."We stopped a negative trend that meant we could not apply for energy projects and lost hundreds of millions of euros of investments and grants," Zvizdic told a news conference.Bosnia…
Saipem Wins $700 Mln Worth of Offshore Contracts
Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana.These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, as the project operator, are in addition to those awarded to Saipem in 2017 for Liza Phase 1.Following engineering and subject to requisite government approvals, project sanction from the joint venture and an authorization to proceed with the next phase, Saipem will then perform detailed engineering, procurement, construction, and installation of the risers, flowlines, and associated structures and jumpers.
French Energy Transition Key to Security - IEA
In its latest country review of energy policies, the International Energy Agency (IEA) praised France for setting in motion significant reforms towards more secure, affordable and sustainable energy supplies and the green growth of its economy. Over the past ten years the French economy has reduced its carbon intensity and benefitted from greater energy efficiency, notably in the residential sector, according to the IEA report, Energy Policies of IEA Countries: France 2016 Review. The IEA praised France's leadership role in climate change mitigation and green finance around the world and at home…
