Britain Rejects Moroccan Subsea Power Project In Favor of Domestic Solutions
Britain has rejected a 25 billion pound ($34.39 billion) Moroccan renewable energy project that would have used solar and wind power from the Sahara to supply up to seven million UK homes.The British government, which is aiming to largely decarbonise its electricity sector by 2030, said on Thursday it believed domestic projects could offer better economic benefits."The government has concluded that it is not in the UK national interest at this time to continue further consideration of support for the Morocco-UK Power Project," energy department minister Michael Shanks said in a written statement to parliament.He also said the project did not
India wants to move faster with clean energy deals
India's power minister has proposed a rule that will require distribution companies to act faster after signing agreements to purchase power from clean energy sources. According to the draft rule of June 25, distribution companies are required to seek official approval within 30 days after signing a deal with a third party, such as an agency that implements renewable energy. This is an important step, as the industry has been highlighting delays by power distribution companies that have slowed the start-up of solar, wind and other renewable energy project.
Alterra, the UAE’s climate fund, supports Absolute Energy’s renewable energy project in Italy
Alterra, one the largest private climate funds in the world, has invested its second direct money in Europe via Italian renewable energy company Absolute Energy. It plans to do more deals, according to its CEO. The fund, which was set up by the United Arab Emirates in 2023 with $30 billion and has invested so far $6.5 billion, mainly through climate and transformation funds managed by global investment firms BlackRock Brookfield and TPG. In the deal with Absolute Energy, the fund will invest $50 million of direct equity from its Acceleration funds alongside U.S. Infrastructure firm I Squared Capital.
Kuwait looks to public-private partnerships for energy projects that will help end the power crisis
The acting director general of Kuwait Authority for Partnership Projects, KAPP, said that Kuwait hopes new energy projects, involving both state and private investors, will help it tackle its power shortage. One of these contracts is due to be awarded in the next few weeks. Kuwait, a country that is a member of the Organization of Petroleum Exporting Countries, has suffered from a severe shortage of electricity due to rapid population growth, urbanization, increasing temperatures, and delays with maintenance of some power plants. In order to reduce the burden, the government has been implementing planned power cuts since last year.
India dismisses state-run clean energy agency chairman
The Indian government has immediately removed the chairman of Solar Energy Corp of India, SECI, from his position, according to a federal notice published on Saturday. This was just a little over a week before the end of the chairman's tenure. In June 2023 the former SECI head, who was formerly India's top environment minister, was appointed SECI Chairman. His tenure was due to end next month. The government has not given a reason why Rameshwar Prasad Gupta was dismissed. Gupta declined comment. SECI barred Reliance Power, an Indian company, from participating in competitive bids for renewable energy project during Gupta’s tenure.
German spot increases as French spot drops
Early on Wednesday, European power prices were mixed. France was down due to lower consumption and increased supply while Germany rose amid positive factors. As of 8:40 GMT, the price for French baseload electricity on Thursday had fallen by 9.9% to 93.3 euros (96.02 dollars) per megawatt-hour (MWH). The German baseload for the day ahead was up by 21.6% to 125.5 Euros. LSEG data shows that power usage in Germany will increase by 2.6 gigawatts per day, reaching 62 GW at the end of Thursday. Guromarie Wyller, LSEG analyst, noted that the supply of wind power is expected to decrease while gas and coal are likely to increase.
Romania allocates 1.5 GW of renewable energy projects
The Energy Ministry announced in a Monday statement that Romania had allocated 1.5 gigawatts of renewable energy project funding through an EU-funded contract for difference scheme. The long-awaited low carbon energy support scheme fixes the price of electricity to providers at a level agreed for 15 years. The Ministry selected 10 projects for onshore wind worth 1.09 GW and 11 projects with a total capacity of 432 MW. The energy ministry stated that the projects would have an average weighted cost of 51 euros for solar projects and of 65 euros for wind projects.
European and Southern African Development Banks to lend an extra $220 million to clean energy projects
The European Investment Bank and Development Bank of Southern Africa announced on Wednesday that, together, they will lend an additional 200 millions euros ($220.16million) to renewable energy project in South Africa. The EIB and DBSA have pledged 400 million euros at the COP27 Climate Summit in 2022 for independent power projects to be supported in Africa's most developed economy. South Africa's energy minister pledged in July to speed up the transition to renewable energy, from coal. This was after his predecessor, who was opposed to rapid decarbonisation, halted progress.
Philippines fishermen fear solar farm on lake could hurt their income
Alcones, a member of a group that opposes the government's plans to install solar panels on top of Laguna de Bay, the largest source of freshwater fish in the country, to meet the growing demand for electricity, is opposed to this plan. "Laguna Lake provides income and life to fishermen who have not finished school, like us. "It also provides many displaced workers with an alternative source of income by fishing," said Alcones a 55-year old father of two, who lives near Laguna Lake. The Philippines, an archipelago with more than 7,500 islands, is limited by its land resources.
BP Beefs Up Hydrogen Team in Bet on Fuel's Future
BP is beefing up its hydrogen management team as the energy company prepares to accelerate investments in the low-carbon fuel which it believes will play a key role in the world's shift away from fossil fuels.The revamp of the hydrogen team is the first clear sign of changes Anja-Isabel Dotzenrath, a former head of RWE Renewables, has made since becoming BP's head of natural gas and renewables in March.It also comes as BP announces it has agreed to buy a 40.5% stake and become operator of an Australian renewable energy…
Hutchinson to Provide Platforms for Hornsea 2
Offshore wind specialists, EEW Group has contracted has contracted UK outfit Hutchinson Engineering for the fabrication and on-site assembly of 30 suspended internal platforms (SIPs) for Orsted's 1386MW Hornsea 2 offshore wind farm off eastern England.The SIPs are highly complex steel components, each weighing 10 tonnes and towering 12m high, that will be suspended inside the bright yellow transition pieces, which form part of the foundations for offshore wind turbines.Once complete Hornsea Two will become the UK’s…
Prysmian Wraps Up DolWin3 Gig
Prysmian Group, the major player in energy and telecom cable systems industry, has has announced that it commissioned the 900MW DolWin3 high voltage direct current (HVDC) offshore grid link in the German North Sea.Prysmian had secured this project in February 2013, with a contract awarded by Alstom Grid (now GE Grid GmbH) on behalf of the Dutch-German grid operator TenneT.DolWin3, the third offshore grid connection in the DolWin cluster, links the offshore converter platform DolWin Gamma, located approximately 85 kilometers offshore in the North Sea…
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…
Large Oil Firms Invest in Shale
Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, said Rystad Energy, energy research and business intelligence company.A recent review of 2019 capital budgets reveals that oil majors are the only group to increase shale expenditure from 2018 to 2019.Big companies such as Chevron and ExxonMobil recently announced plans to significantly ramp up production in prolific shale basins, such as the Permian Basin spanning Texas and New Mexico.“Oil majors are spending more dollars on shale in an effort to evolve into renewables…
Seaway Offshore Cables Wins US Job
Subsea 7 associate Seaway Offshore Cables has won a contract to supply and install array cables for the 12-megawatt Coastal Virginia Offshore Wind (CVOW) projects in the U.S."SOC in combination with Subsea 7, has been awarded its first US offshore wind project by Ørsted Wind Power North America who are constructing the project for Dominion Energy. This turnkey cable supply and cable installation contract for CVOW Project marks the continued success of a global renewables strategy for Subsea 7 in the U.S.," said a press release from the German company.The submarine cable installation…
North Sea Port Opens Netherlands' Largest Solar Park
The Scaldia solar park officially opened in North Sea Port, the logistical heart of Europe. The firm ib vogt installed more than 140,000 solar panels, making this the largest solar park in the Netherlands.The official opening took place with the symbolic starting of the generator, getting the largest solar park in the Netherlands up and running.The Scaldia solar park is located in the municipalities of Borsele and Vlissingen. For Zeeland, the facility is important to achieving its climate objectives: over 30 years, the solar park will avoid 738…
Siemens Gamesa Bags Orders for 176.8MW Wind Projects in India
Siemens Gamesa (SGRE), a renewable energy project developer and an Engineering Procurement Construction (EPC) provider, has won turnkey contract from renewable energy project developer ReNew Power for the development of two wind projects aggregating 176.8 MW in India.One order is for construction of a 100.8 MW wind farm in Gujarat's Kutch district and another for a 76 MW wind farm in Maharashtra's Osmanabad district, according to a statement from the renewable energy firm.As part of the turnkey contract, Siemens Gamesa will provide the infrastructure needed to install and operate the facility including supply…
Renewable Energy Conference to Advance Low-Carbon Development in Egypt
Release of IRENA’s ‘Egypt Renewable Energy Outlook’ will be key focus of co-organized three-day conference in Cairo next monthEgypt’s Ministry of Electricity and Renewable Energy and the New and Renewable Energy Authority (NREA) together with the International Renewable Energy Agency (IRENA) will co-organize the country’s first high-level renewable energy conference in the Egyptian capital, Cairo next week.The three-day Egypt Renewable Energy Conference, held from October 9-11, will seek to advance renewables development in the country and will feature the release of IRENA’s Egypt Renewable Energy Outlook report…
Amarenco Acquires Renewable Energy Developer Groupe Carré
Amarenco, an independent power producer based in Ireland, has announced its acquisition of Groupe Carré, a renewable energy project developers active in France. This acquisition supports Amarenco’s strategic objectives and strengthens its position in France’s promising wind and solar energy markets. Operating under the brand name Amarenco France, the new entity has the depth of skills, experience and financial girth to quickly become one of the main vertically integrated IPPs active in the country. Over the last few years…
Saudi Arabia Aims to Exceed Renewable Energy Target
Saudi Arabia aims to exceed its target to generate 9.5 gigawatts of electricity from renewable energy annually, to highlight its long-term commitment to green energy, a senior government official said. "We plan to exceed 9.5 gigawatts," Turki al-Shehri, head of the energy ministry's Renewable Energy Project Development Office (REPDO) told the Sino-Saudi investment forum in Jeddah on Thursday. "The whole idea of this is to give investors a sense of comfort that the Kingdom has a long-term vision for renewable energy," he later told Reuters.
