The month of May, 2023, was characterised in the European markets by a continuation of the downward trend in electricity demand while wind energy production and photovoltaic energy production continue to grow. This situation, together with a downward trend in gas and CO2 emission rights prices, drove prices down in virtually all electricity markets. Solar … Continue reading Renewable energy production up and demand and prices down in May
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Iberdrola agrees with Norges Bank Investment Management for 1,265 renewable MW in Spain and we are negotiating more than 500 additional MW
Iberdrola has finalised the details of its strategic alliance with the sovereign fund of Norway, managed by Norges Bank Investment Management, to co-invest in 1,265 MW of new renewable capacity in Spain (20% wind and 80% Solar PV). Both companies have today informed the National Securities Market Commission (CNMV) that they have obtained all the legal … Continue reading Iberdrola agrees with Norges Bank Investment Management for 1,265 renewable MW in Spain and we are negotiating more than 500 additional MW
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Negative prices continue to appear in the electricity markets while gas prices continue to fall and solar photovoltaic energy production sets new records
Gas and CO2 prices continued their downward trend in the fourth week of May, which led to a general downward trend in prices in European electricity markets and several negative hourly prices were registered, which reached -€400/MWh in Netherlands. The notable exception of the Iberian market, with a rise in prices, came from the fall … Continue reading Negative prices continue to appear in the electricity markets while gas prices continue to fall and solar photovoltaic energy production sets new records
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Spain does not take advantage of the full potential of wind and solar energy due to lack of storage
The Spanish electrical system wastes an important – and growing – part of its potential for electricity from renewable sources. It is a fact that worries experts. The system dispenses with windmills or solar plants, or orders their operation to stop because there is not enough demand to absorb that supply. Given the current low … Continue reading Spain does not take advantage of the full potential of wind and solar energy due to lack of storage
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BW Ideol teams up with Elawan Energy for multi-GW floating offshore wind projects in the Iberian Peninsula
BW Ideol has signed a Head of Terms with Elawan Energy, an ORIX company based in Spain, for the joint development of a multi-GW floating offshore wind pipeline off Spain and Portugal, subject to further negotiation of the final agreement between the Parties.Elawan Energy is a leading player in the field of renewable energy in … Continue reading BW Ideol teams up with Elawan Energy for multi-GW floating offshore wind projects in the Iberian Peninsula
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Each MW of concentrated solar power can replace each MW of natural gas and achieve the decarbonization of the electricity sector
Each MW of solar thermal power can replace each MW of gas and achieve a total transition of the electricity sector, which would imply the substitution of current natural gas plants, as can be seen from the study carried out by Protermosolar in collaboration with the Comillas Pontifical University, which analyzes the technical and economic … Continue reading Each MW of concentrated solar power can replace each MW of natural gas and achieve the decarbonization of the electricity sector
Continue readingNew episodes of negative or zero prices in European electricity markets
In the third week of May, negative or zero hourly prices were registered in most of the European electricity markets, especially during the weekend. In the Nord Pool market, the value of -€5.67/MWh registered in an hour of Sunday 21 is the lowest one in history. For the week as a whole, prices decreased in every … Continue reading New episodes of negative or zero prices in European electricity markets
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Vestas Daimiel incorporates the V163 blade to its production lines
The V163 blade exceeds 80 meters in length and is part of the new Vestas V163-4.5 MW wind turbine. This turbine represents another step in the evolution of the 4MW platform. By increasing the swept area by 18 percent compared to the V150 rotor, it significantly increases power production at lower wind speeds, improving predictability … Continue reading Vestas Daimiel incorporates the V163 blade to its production lines
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IberBlue Wind announces second floating offshore wind farm off the coast of Andalusia
The project, called “La Pinta”, will be off the coast of Granada and Almeria, and will have up to 55 wind turbines with an installed capacity of circa 990MW. The global investment required for the construction and maintenance of the wind farm will exceed €2,500 million and generate over 3,300 jobs. IberBlue Wind, a joint venture … Continue reading IberBlue Wind announces second floating offshore wind farm off the coast of Andalusia
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Capital Energy awards the transformers of six of its wind farms to the company Faramax
These projects are located in Castilla y León, Castilla-La Mancha and AragónThe equipment will be manufactured at the plant that this company has in Cáceres and supplied, foreseeably between this year and 2024, to be coupled to the electrical energy evacuation infrastructures of La Herrada, Las Mareas I, Las Mareas II, Hazapierna, Praderas Altas and … Continue reading Capital Energy awards the transformers of six of its wind farms to the company Faramax
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The Elecnor Group makes a net profit of EUR 27.4 million in the first quarter of 2023
The Elecnor Group expects to top the sales and profit figures achieved the previous year, as it has indeed managed to do year after year throughout the past decade The Elecnor Group has concluded the first quarter of 2023 with a consolidated net profit of EUR 27.4 million, which represents an improvement of 7.7% on … Continue reading The Elecnor Group makes a net profit of EUR 27.4 million in the first quarter of 2023
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May begins with record values of solar photovoltaic energy production in Europe
In the first week of May, European electricity markets prices fell due to the drop in gas and CO2 prices. In addition, the demand decreased in most markets and wind and solar energy production increased in some cases, reaching record values for hourly solar photovoltaic energy production in almost all markets. Brent and TTF gas … Continue reading May begins with record values of solar photovoltaic energy production in Europe
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Agreement between Siemens Gamesa and Repsol to supply wind energy to 160,000 homes in Spain
Siemens Gamesa and Repsol have strengthened their commercial ties with the signing of two new contracts for the supply of 40 SG 5.0-145 onshore wind turbines for six wind farms in Spain, totaling 200 MW. Following this agreement, Repsol will have eight wind farms employing Siemens Gamesa technology, reaching a total of 324 MW. The … Continue reading Agreement between Siemens Gamesa and Repsol to supply wind energy to 160,000 homes in Spain
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Ingeteam develops a central inverter for 1500 V DC batteries
Ingeteam has developed a new central inverter for large-scale battery systems. This new product, commercially known as IS STORAGE 3Power HV, is specifically intended for energy storage plants developed with batteries up to a maximum voltage of 1500 V DC. The first units will start to be delivered in July for a project in Italy. … Continue reading Ingeteam develops a central inverter for 1500 V DC batteries
Continue readingElectricity demand in Spain in April among the lowest in the last 20 years
Electricity demand fell in April in all European markets. Excluding 2020 demand, which was affected by COVID measures, Spain and Italy registered their lowest values in 20 and 6 years, respectively. Falling demand and gas prices, as well as a solar energy production that was the highest for a month of April in several markets … Continue reading Electricity demand in Spain in April among the lowest in the last 20 years
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EDP Renewables’ EBITDA increases 14% in the first quarter of the year
EDP Renewables is moving forward with its 2023-2026 Business Plan to lead the energy transition through an acceleration of investment and sustainable growth. In the first quarter of 2023, EDPR’s gross investment amounted to €1 billion, with more than 80% of its Capex invested in Europe and North America, reflecting EDPR’s growth with 1.7 GW … Continue reading EDP Renewables’ EBITDA increases 14% in the first quarter of the year
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Iberdrola invests 10,400 million euros and has a net profit of 1,485 million
Financial Highlights Delivery of business plan, ahead of schedule Operational highlights 2023 outlook Commenting on the results, Ignacio Galán, Executive Chairman of Iberdrola: “This has been a good start to the year for Iberdrola, reinforcing the strength of our business model as a global leader in the energy transition”. “We are now seeing faster progress … Continue reading Iberdrola invests 10,400 million euros and has a net profit of 1,485 million
Continue readingSeveral negative or zero hourly prices in European electricity markets although prices generally increased
In the week of April 17, European electricity markets prices increased due to the fall in wind energy production and the increment in demand. However, in the MIBEL market of Spain and Portugal, seven zero hourly prices were registered on April 23. In the markets of Belgium and Netherlands there were several negative hourly prices … Continue reading Several negative or zero hourly prices in European electricity markets although prices generally increased
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Ingeteam launches a control system for hybridising wind and solar power plants
It is a system that allows the hybridization of wind farms with photovoltaic plants and energy storage systems in batteries.The first units are in the certification process and will be installed in Spain to hybridize two wind farms with two photovoltaic plants. Ingeteam has designed and manufactured the first units of its new control system … Continue reading Ingeteam launches a control system for hybridising wind and solar power plants
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Ørsted, developer of offshore wind power
Offshore wind energy, also called offshore wind energy, plays a very important role in the global transition to green energy. At Ørsted, we work to develop the potential of wind energy around the world. Today, through technological innovation, we have managed to reasonably reduce the cost of obtaining wind energy. Thus, as with land and … Continue reading Ørsted, developer of offshore wind power
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