EU's 2020 budget approved with sharpened climate focus
Monday, the European Parliament and member states reached agreement on the union's budget for 2020, boosting climate and energy.
EnergyWatch
A part ofWatch Medier
Monday, the European Parliament and member states reached agreement on the union's budget for 2020, boosting climate and energy.
A major Australian project entailing 10 GW of hybrid solar capacity with energy storage, connected to Singapore through a 4,500 kilometer export cable is in the process of raising capital. If realized by target year 2027, the project could supply around one fifth of the city state's electricity requirements.
The US state raises its ambition for offshore wind to 7.5 GW by 2035.
The Danish cable manufacturer has won a supply contract for Dogger Bank offshore wind farms Creyke Beck A and B.
Another important step is taken in the development of Denmark's next offshore wind farm. The final steel monopile has now left production and is closer to installation at the Vattenfall-led project.
Global data streams could surge almost 20-fold ahead to 2030, resulting in a huge increase in electricity use.
A series of investors criticize the IEA for not having made adequate recommendations for achieving the Paris Climate Accord's goals. Scandinavian pension funds PensionDanmark and Storebrand are among the letter's signatories, rebuking the IEA for failing to live up to its responsibility.
Analyst firm estimates that oil supermajors are headed toward a fire sale of assets worth over USD 27 billion. Three companies in particular are expected to take the lead.
Backed by SoftBank, Exeger is now ready to construct a large-scale solar cell factory for production of third-generation solar cells. The new production facility will be built in cooperation with ABB, which develops robots and automation solutions for Exeger and its factories.
The US-based wind OEM announces an order for 350 MW in its home country.
The Saudi state-owned oil company halts plans to promote itself before its initial public offering.
.jpg)
Oceaneering Asset Integrity ended up drawing the shortest straw when Equinor allocated inspection contracts worth NOK 3.5 billion (EUR 346 million). The deals for six rigs worth NOK 300 million is substantially less than the firm expected – and now it announces staff dismissals.
In three years, Norsk Hydro has gone from being a wind energy freshman to taking on the role of sector-wide trend setter that continues to set new standards for both duration and scope for PPAs. Security and counterpart risk trump all other factors when new deals are entered, says Norsk Hydro's head of power negotiations.
The Norwegian oil giant is selling off major US shale gas assets and exploring possibilities for investing in US renewables beyond offshore wind.
A French floating offshore wind pilot project adds a quarter more capacity and nominates MHI Vestas as preferred supplier.
Canada's Northland Power plans to develop offshore wind projects totaling 600 MW with Japanese partner.
Norsk Hydro looks with concern upon the resistance toward wind energy, which in the worst-case scenario might end up yielding a power shortage in Norway. If electricity during a societal process of electrification is to be held at a more or less stable and cheap level, wind energy is a must, says the company, which on its own accounts for 14 percent of Norway's power consumption.
With an estimated value of USD 1.7 trillion, the Saudi oil giant is on its way to be listed.
The winner of Denmark's Thor offshore wind project will be compensated if the power price drops below the preceding year's average. If the price is higher, though, the profit will be shared with the state.
Two decades ago, when coal ruled U.S. power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau.
Buyers are gone, the deficit deepens and Suzlon's debt has exploded. The Indian OEM has halted payments to most of its investors, several of which are threatening the manufacturer with insolvency liquidation.
Ineos expects to have completed preparatory efforts for development projects Hejre and Solsort in 2020, says CEO Sebastian Koks Andreassen in an interview with EnergyWatch. Neither of the projects are projected to be completely operational within the next few years.
Equinor discloses contracts for six years of inspection tasks worth NOK 3.5 billion. Aker Solutions takes an order for NOK 1.2 billion.
The European Investment Bank, owned by EU member states, will no longer fund fossil fuel ventures from 2021.
Following two rounds of layoffs and several restructurings, the North Sea operator is well-positioned for the future, assesses CEO Sebastian Koks Andreassen. "The business did not make money by itself," says the CEO about Ineos' Danish oil business.
Technical designer for GIS and electrical documentation
Project Developers
Energy Analyst with Ability to Involve and Communicate
