French, Irish Back Celtic Undersea Power Cable
French energy regulator CRE and its Irish counterpart CRU said on Monday they are backing a bid by the Celtic Interconnector undersea power cable project to get at least 60 percent of its 930 million euros investment from European Union grants.The 700 megawatts high-voltage power cable project, led by French power grid operator RTE and Ireland's EirGrid…
Petrobras to Sell Pipeline Unit for $9 Bln
Brazilian state-run oil company Petroleo Brasileiro SA has agreed to sell its TAG natural gas pipeline unit to a consortium led by France's Engie SA for roughly $9 billion, Bloomberg News reported on Friday, citing a source.The Engie consortium, which also includes Canada's Caisse de Dépôt e Placement du Québec…
Total CFO to Retire this Year
Total Chief Financial Officer Patrick de La Chevardiere is to retire by the end of this year, a spokesperson for the French oil and gas major said on Friday.De la Chevardiere has been Total CFO for the last 11 years and has been with the firm for 37 years, his LinkedIn profile showed.Total's spokesperson declined to comment on a report in French business magazine Challenges tha
France to Double Renewables Capacity Under Energy Plan
France plans to double its renewable energy capacity with a system of regular tenders under a draft 10-year energy strategy plan published on Friday.The so-called PPE plan, which lays out capacity targets for various energy sectors over the 2019-2023 and 2024-28 periods, also confirmed that four to six nuclear reactors - including two in Fessenheim - will be closed by 2028…
EDF Halts GE Turbine at Bouchain, Following U.S. Shutdowns
French power utility Electricite de France SA said on Tuesday it has shut down a General Electric Co turbine at its Bouchain power plant for one month due to a turbine blade issue that has shut down similar plants in the United States.EDF's move comes after GE and Exelon Corp said last week that four such turbines in Texas were halted due to a turbine blade failure.
Nord Stream 2 Pipeline on Track Despite Sanctions Risk, Operator Says
The Nord Stream 2 pipeline to transport Russian gas to Germany is progressing on schedule, its operator said on Friday, with European investors still committed to the project despite criticism from the United States and the threat of sanctions.In July, Washington repeated a warning to Western firms invested in the pipeline that they were at risk of sanctions…
Russia's First Sea-borne Nuclear Power Plant Arrives in Arctic
Russia's first-floating nuclear power plant arrived in the Arctic port of Murmansk over the weekend in preparation for its maiden mission, providing electricity to an isolated Russian town across the Bering Strait from Alaska.The state company behind the plant, called the "Akademik Lomonosov", says it could pioneer a new power source for remote regions of the planet…
Engie to End Engineering Contracts in Iran by November
French gas and power group Engie said on Friday it would end its engineering contracts in Iran by November.President Donald Trump’s withdrawal of the United States from the nuclear accord with Iran and his order that sanctions be reimposed on Tehran have led several European companies to announce their exit from the country…
Total Pays $1.7 bln for French Electric Retailer
Acquisition makes Total major competitor for EDF; and they paid 30 pct premium on Direct Energie's last close. Oil company Total said it will buy a majority stake in French electricity retailer Direct Energie in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF.
France to Decide on Offshore Wind in Coming Days
The French government will decide on the future of its planned offshore wind parks in the coming days, renewable energy lobby SER said in a statement. Last month, the French senate rejected a government proposal to renegotiate and possibly cancel projects to generate a combined 3,000 megawatts of offshore wind power on six sites on France's west coast awarded in 2012 and 2014.
France's Engie Exploring Sale of German Power Plants
French energy group Engie is considering selling its power plant assets in Germany in a deal that could fetch a few hundred million euros, two people familiar with the process told Reuters. Engie owns or holds stakes in three hard coal-fired power plants in Germany. It is the sole owner of the 472 megawatt (MW) Zolling site near Munich and the 351 MW Farge plant…
Engie Board to Propose Solvay's Clamadieu as New Chairman
French gas and power group Engie's board will propose Jean-Pierre Clamadieu, chief executive of Belgian chemical group Solvay, as new Engie board chairman on Tuesday, French daily paper Le Figaro reported on its website on Monday. Clamadieu would succeed Gerard Mestrallet, who built the global utility through a series of mergers and acquisitions over the past two decades.
EDF Wants to Take Part in Saudi Nuclear Plans - CEO
French state-controlled utility EDF wants to take part in Saudi Arabia's plans to build nuclear power reactors, its chief executive told Reuters on Monday. Saudi Arabia, which wants to reduce oil consumption at home, is considering building 17.6 gigawatts of nuclear-powered electricity generating capacity…
Engie Plans to Go Green
French utility Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100 percent green, its chief executive said on Monday. The power and gas group has some 70 biogas projects worldwide, including 40 in France, and says that if all its projects get approval its…
Nuclear Newbuild Projects at Decade Low -Report
The number of nuclear newbuild projects worldwide has dropped to a decade low in the wake of the 2011 Fukushima disaster and due to the rising cost of atomic energy, an industry report showed. From a high of 15 in 2010, the number of construction starts of nuclear reactors worldwide dropped to 10 in 2013…
EDF Must Review All Creusot-made Components on Nuclear Reactors
French nuclear regulator ASN said on Wednesday that utility EDF must review all components of its nuclear reactors that were made by Areva 's foundry Creusot Forge by the end of 2018. The ASN did not say in its statement that EDF would have to halt its reactors for the review. But its said the examination would have to take place while the reactors are halted for refueling.
MHI Says to Buy 19.5% of Areva New NP
Japan's Mitsubishi Heavy Industries (MHI) will buy a 19.5 percent stake in nuclear reactor builder Areva New NP as part of the sale of the Areva unit to utility EDF, MHI said in a statement. MHI confirmed it is also scheduled to acquire a 5 percent stake in nuclear fuel group New Areva Holding, formerly referred to as "NewCo", by the end of this year.
Rapid Nuclear Decommissioning Threatens Climate Targets, says IEA
Decommissioning nuclear plants in Europe and North America from 2020 threatens global plans to cut carbon emissions unless governments build new nuclear plants or expand the use of renewables, a top International Energy Agency official said. Nuclear is now the largest low-carbon power source in Europe and the United States…
New EU Rules Aim to Make Power Cheaper
Utilities in the European Union may have to offer more flexible prices from 2020 to encourage consumers to use more electricity when supplies are abundant and cheap, according to proposed new rules, a top EU official said. Most European utilities sell at fixed prices, regardless of price swings on wholesale markets…
Engie Not Interested in Innogy
French gas and power group Engie is not interested in making a bid for German energy group Innogy, French BFM TV reported on its website, quoting a source close to Engie. Innogy shares rose and Engie stock fell on Tuesday following a report by Bloomberg late on Monday saying Engie was weighing a bid for networks…
