Opinion: Egypt Banks on Renewables to Meet Expected Energy Demand Surge
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?Egypt’s population has now passed 100 million. As one of the most populous and fastest-growing nations on the African continent, providing…
Yantai Port to Launch LNG Storage Plants
China's Yantai Port Group aims to launch two jointly-owned liquefied natural gas (LNG) storage facilities by 2022 and expects government approval for them this month, two sources familiar with the matter said.Shandong province, where the Yantai port is located, is an industrial and petrochemical hub in China. It has one quarter of the country's steel capacity and is also a big coal consuming region…
Green Energy on the Rise in Thailand
BCPG Public Company is looking at ways in which innovation in technology and energy management are encouraging consumers to generate reusable energy and sell it on the retail market, Bundit Sapianchai told Oxford Business Group’s online broadcasting channel, Global Platform. Diversifying into more types of renewable energy and seeking…
DONG Energy Wins Order to Sell Onshore Wind Power in the UK
Danish utility and wind farm developer DONG Energy has signed an agreement with Britain's Banks Renewables, in what would be its first move into distributing onshore wind in the UK, the company said on Tuesday. The 15-year order includes buying power from three onshore wind farms under development by Banks Renewables, a unit within UK land developer Banks Group, and reselling it on the UK's power market.
Noble Group sells Calpine for $1.05 bln
Noble had flagged sale; part of strategy to raise funds. Singapore-listed commodities trader Noble Group agreed to sell its North American energy distribution unit to U.S. firm Calpine Corp for $1.05 billion, moving a step closer to completing a restructuring to raise $2 billion to help cut debt. The sale of Noble Americas Energy Solutions (NAES) includes repayment of working capital of about $248 million…
Passing Energy Bills, Ukrainian MPs Clear Path for New EU Loan
The Ukrainian parliament passed two bills on Thursday aimed at prising open the domestic energy distribution market to more competition, a reform demanded by the European Union in exchange for a 600-million-euro ($674.10 million) loan. The first bill will allow more companies to compete in the local distribution market - at present controlled by regional monopolies.
Noble Group Targets $500 mln cash call, Founder to Step Down
Chairman Richard Elman to step down within 12 months; moves comes just days after CEO quit. Noble Group is raising about $500 million from a deeply discounted share issue, cutting jobs and losing its Chairman Richard Elman who is stepping down, capping a tumultuous week for the embattled commodities trader. Friday's announcement of the planned departure of Elman…
Canadian Solar to Build 5 MW Plant in Australia
The Australian Renewable Energy Agency (ARENA) today announced $8.4 million funding support for Canadian Solar and Scouller Energy to construct a 5 MW DC (4.5 MW AC) solar farm near Normanton in far North-West Queensland. ARENA CEO Ivor Frischknecht said Normanton Solar Farm would help demonstrate how integrating solar into the grid can improve energy reliability in regional Australia.
ABB on Power Drive in Germany
ABB increases stake in STRIEBEL & JOHN GmbH & Co. KG to 100 percent from 51 percent. ABB will combine the STRIEBEL & JOHN product range with its own range in the field of low-voltage products to offer complete systems from a single source in Germany. Further integrating the supply chain to electrical wholesale and direct industrial customers will improve efficiency.
Two Killed In Kosovo Power Plant Blast, Supplies Hit
A hydrogen tank exploded at Kosovo's second biggest power plant on Friday, killing two people and injuring 14, officials said. The 40-year-old Kosovo A plant, considered one of the worst polluters in Europe, was shut down following the blast that was heard in the capital, Pristina, some 10 km (6 miles) away. The explosion threatened electricity supplies in a country already plagued by blackouts.
Power for Next Work Day Down on Less Demand, More Supply
Central European power for the next working day fell on Friday due to a holiday in the region expected to crimp demand and forecasts for strong renewable supply that would increase supply, traders said. Czech power for Monday delivery fell to 19 euros ($25.87) per megawatt hour in the over-the-counter market, well below the Friday delivery price of 32.90 euros and the day ahead price of 25 euros.
Ukrainian Firm May Cut Energy Supplies to Crimea
Ukrainian energy firm DTEK, owned by multi-billionaire Rinat Akhmetov, said on Friday it might cut energy supplies to consumers in Crimea, annexed by Russia last month, due to unpaid debts mainly by big companies. DTEK, which operates the Crimean energy distribution company Krymenergo, said the debts amounted to $60 million. A "critical…
PlanetSolar Solar Powered Ship
Imtech N.V. (technical services provider in Europe) is acting as technology partner of PlanetSolar, a solar energy powered ship. In 2011, PlanetSolar will set sail on a world cruise of approximately 50,000 km, with the aim of promoting solar energy and the use of environmentally-conscious alternative fuel for sailing. PlanetSolar is a high-tech 85 ton…
