Freja Offshore, a joint venture between Aker Horizons-controlled Mainstream Renewable Power and Stockholm-based floating wind developer Hexicon, has submitted plans for another 2.5 GW floating wind power in Swedish waters. The wind farm called Dyning will be able to deliver 10 TWh annually which can supply more than the entire energy need of the regions … Continue reading Mainstream and Hexicon seeks to build gigawatt-scale floating wind farm off Sweden
Continue readingMonthly Archives: October 2023
How can sustainable debt support China’s energy transition?
Sustainable debt has become a popular tool to fund green and sustainability-linked activities since it first emerged in the mid-2010s, providing a tailwind to clean energy investment. Global sustainable debt issuances have risen nearly tenfold since 2016, peaking at over USD 1.7 trillion in 2021. These instruments have been leveraged by governments to raise capital … Continue reading How can sustainable debt support China’s energy transition?
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Statkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
“Despite increased geopolitical unrest and rivalry, renewable energy growth remains strong and won’t stop or reverse. The cost of wind and solar power, batteries and electric vehicles have dropped significantly over the last decade, resulting in them replacing fossil fuels. Energy security has also become a top priority on the international agenda, resulting in an … Continue reading Statkraft releases report on global energy trends and scenarios for 2050: Growth in renewables will continue despite international turmoil
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Prysmian signs approx. €900 million agreement for the Clean Path New York
Prysmian Group, world leader in the energy and telecom cable systems industry, has signed an agreement worth approximately €900 million with Clean Path New York to provide submarine and land power cable systems for one of the largest transmission infrastructure projects in the United States. Clean Path New York is an $11 billion renewable energy … Continue reading Prysmian signs approx. €900 million agreement for the Clean Path New York
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The Iberian market registers the lowest prices in Europe in the last week of October thanks to wind energy
In the last week of October, the weekly average price on the Nord Pool market was the highest since mid-June. Between October 26 and 30, the Iberian Peninsula’s MIBEL market reached the lowest price of all markets, supported by high wind energy generation. TTF gas futures remained at the €50/MWh level for the third consecutive … Continue reading The Iberian market registers the lowest prices in Europe in the last week of October thanks to wind energy
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Solar and wind power curtailments are rising in California
The California Independent System Operator (CAISO), the grid operator for most of the state, is increasingly curtailing solar- and wind-powered electricity generation as it faces the rapid growth of wind and solar power in California. Grid operators require wind and solar generators to curtail production to reduce energy output below the levels they would have … Continue reading Solar and wind power curtailments are rising in California
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New Wind Energy Areas in the Gulf of Mexico
The US Bureau of Ocean Energy Management (BOEM) is continuing its efforts to expand wind energy capacity in the Gulf of Mexico. In line with the government’s ambitious target of deploying 30 gigawatts of offshore wind energy by 2030, BOEM is set to auction off four new wind energy areas in the region. The recently … Continue reading New Wind Energy Areas in the Gulf of Mexico
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COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
Abu Dhabi, United Arab Emirates, 30 October 2023 – The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report today on the sidelines of the Pre-COP event in Abu Dhabi, titled “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C.” The … Continue reading COP28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030
Continue readingChina’s installed solar and wind power capacity saw robust growth this year
China’s installed solar and wind power capacity saw robust growth this year amid the country’s green development push, according to the National Energy Administration, Azernews reports, citing Xinhua. At the end of September, the country’s installed solar power capacity was approximately 520 million kilowatts, up 45.3 percent year on year, and its installed wind power … Continue reading China’s installed solar and wind power capacity saw robust growth this year
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Suzlon secures 50.4 MW wind order for its 3 MW wind turbines from Juniper Green Energy Private
To supply 16 wind turbines with a rated capacity of 3.15 MW each. Wind farm to be completed in 2025 at Dwarka district in Gujarat. Part of bid awarded to Juniper Green Energy Private Limited by Gujarat Urja Vikas Nigam Ltd. (GUVNL). A project of this size can provide electricity to ~38 thousand households and … Continue reading Suzlon secures 50.4 MW wind order for its 3 MW wind turbines from Juniper Green Energy Private
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Financial and accounting implications of PPA
It is important to anticipate the financial and accounting implications of preparing PPA contracts. There are important differences in the accounting treatment between physical and financial PPA and, in the case of the latter, their accounting can lead to volatility in the income statement. Experts stress the relevance of long-term price forecasts for a reliable … Continue reading Financial and accounting implications of PPA
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How reversible are the recent setbacks of the offshore wind sector?
Amid a challenging year for the offshore wind sector, recent setbacks have increased costs but are now also starting to spur vital policy changes. The industry is now in a position to reverse setbacks and advance toward ambitious goals, encouraging greater investments in renewables and job growth over the next decade Søren Lassen Head of … Continue reading How reversible are the recent setbacks of the offshore wind sector?
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Installation of Türkiye´s highest capacity wind energy project to be kicked off
The main components of the first wind turbines for Akköy Wind Power Plant (WPP) will be on their way to the site in Türkiye shortly. At the 5th Turkish-German Energy Forum in Ankara on 27 October, ENERCON CCO Ulrich Schulze Südhoff and Sabanc? Holding Energy Group President K?vanç Zaimler announced that the units were ready … Continue reading Installation of Türkiye´s highest capacity wind energy project to be kicked off
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Vattenfall builds wind farm Velinga
Vattenfall has taken an investment decision to start building an onshore wind farm in Velinga, outside Tidaholm, in the south of Sweden. Construction will start before year end and the wind farm will be ready for commission in early 2026. The wind farm will have an output of 67 MW and an annual production of … Continue reading Vattenfall builds wind farm Velinga
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Decarbonising metals and mining: three key strategies to win the emissions battle
The metals and mining industry is responsible for approximately 15% of annual global emissions. As the world increasingly focuses on net zero, the metals and mining industry finds itself in a dichotomy. On the one hand, its products, from aluminium and copper to lithium, nickel and zinc, are essential for the energy transition. But on … Continue reading Decarbonising metals and mining: three key strategies to win the emissions battle
Continue readingCIP and Avangrid Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.
Copenhagen Infrastructure Partners (CIP), a global leader in green energy investment, and Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that the Vineyard Wind 1 project closed a first-of-its-kind tax equity package for commercial-scale offshore wind with three US-based banks. The $1.2 billion dollar investment transaction … Continue reading CIP and Avangrid Announce Largest Single Asset Tax Equity Financing and First Large-Scale Offshore Transaction in the U.S.
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Statkraft strengthens its position in Sweden through wind power acquisitions
Statkraft has acquired two companies in onshore and offshore wind power: Njordr Offshore Wind AB, which develops offshore wind power and Svevind Nordic AB, a development company in onshore wind power. With the purchase, Statkraft underlines its ambitions to continue the Swedish growth journey in renewable energy and contribute to the energy transition. Svevind Nordic … Continue reading Statkraft strengthens its position in Sweden through wind power acquisitions
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Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
Investments reach €11 billion in the last 12 months Net profit up 17% to €3.64 billion Dividend FY 2023 Net profit outlook raised to double-digit growth Reinforcing financial strength Strategic Plan Delivery Growth based on Networks, with regulatory frameworks covering 96% of asset base closed to 2025 Renewable capacity up 3,100 MW in the last … Continue reading Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17%
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MENA’s Transforming Role in an Evolving Energy Landscape
The Middle East and North Africa (MENA) region has been leading fossil fuel production for decades, creating tremendous economic growth. However, fossil fuel-driven growth has proven to be unsustainable for both people and planet. As the climate action clock ticks, and with the global community in a race to curb carbon emissions, the MENA region … Continue reading MENA’s Transforming Role in an Evolving Energy Landscape
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RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
Consistent growth of renewable corporate power purchase agreements (PPAs) proves that corporates are stepping up their commitments to the energy transition. But corporate energy buyers are calling on policymakers to use the EU Electricity Market Design (EMD) reform to remove the remaining barriers to PPAs. Record-breaking year in the EU PPA market with companies procuring … Continue reading RE-Source 2023 marks 7.8 GW PPA record but industry urges for barriers to be removed to reach EU net zero objectives
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