In the latest auction conducted by Poland’s Energy Regulatory Office, 800 MW of solar and 900 MW of wind capacities were allocated. The ERO had received 127 bids which included 64 bids for wind projects and 63 bids for solar projects. 96 bids submitted by 70 renewable energy developers were selected and a total of 46.3 TWh of capacity worth $3.83 billion was sold in the auction.
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Centrica Energy Trading, a subsidiary of Centrica PLC, has signed a long-term power purchase agreement (PPA) with Finnish renewable energy developer Taaleri Energia for procuring renewable power from the latter’s assets in Finland. As part of a five-year agreement, Centrica Energy Trading will buy power from Taaleri Energia’s 312 MW of operational renewable power portfolio spread across 13 sites in Finland.
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Vestas and Mitsubishi Heavy Industries, Ltd. (MHI) have closed the agreement to expand their partnership in sustainable energy. By closing the agreement, Vestas has acquired MHI’s shares in the MHI Vestas Offshore Wind (MVOW) joint venture, while MHI has acquired 2.5 per cent in Vestas and will be nominated to a seat in Vestas’ Board of Directors.
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Neoen, a French renewable energy producer, has signed a 10-year power purchase agreement with the consortium formed by Heineken, Philips, Signify, and Nouryon for the supply of 126 MW of additional wind power in Europe. The electricity will be produced by installing additional capacities in the upcoming Mutkalampi wind farm which is owned by Neoen.
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BloombergNEF estimates that to generate enough green hydrogen to meet a quarter of the world’s energy needs would take more electricity than the world generates now from all sources and an investment of $11 trillion in production and storage. That’s why the focus for now is on the 15 percent of the economy with energy needs not easily supplied by wind and solar power, such as heavy manufacturing, long-distance trucking, and fuel for cargo ships and aircraft.
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Iberdrola has signed a PPA with Bayer to supply 100% renewable electricity. Novartis announced the signing of five virtual PPAs with Acciona, EDP Renewables and Enel. Enerparc has secured a 30-year PPA with German railway operator Deutsche Bahn.
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The Western Coast will remain the wind power hotspot, with the Marmara and Aegean Regions boasting the largest amounts of both installed wind capacity and capacity under development – according to the Turkish Wind Energy Association (TÜREB)’s July 2020 report. Both regions have been focus points for wind power investment in Turkey due to the regions’ access to high wind speeds stemming from long coastlines.
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In 2019 alone, coal-power generation fell by 24% in the EU and by 16% in the United States, bringing it down to half the 2007 level. In China itself, nearly 60% of the country’s enormous coal capacity is running at a loss, giving the government every reason to extend its global lead in solar and wind power, and to use its international reach to boost renewables beyond its borders.
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Among others, France and Germany revealed their plan to dedicate respectively €7 and €9 billion from public funds over the next ten years to creating a hydrogen industry. To what extent can hydrogen play a role in mitigating climate change? How are recovery plans addressing the potential pitfalls around its development?
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The Estonian government has allocated EUR8 million to the state-owned transmission system operator (TSO) Elering to compensate an increase in the renewable energy charge payable by domestic and business consumers in 2021.
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In the first and only auction that will be held this year, the Spanish authorities are planning to allocate around 3.6 GW of renewable energy capacity, of which 1 GW for the PV technology, 1 GW for wind power, and 80 MW for biomass projects with the remaining, around 1.5 GW being allocated with no technology restrictions.
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Danish renewables firm European Energy has announced that they will be constructing a $158 million solar farm that has been dubbed as the “largest” installation of its kind in Denmark and entire Northern Europe. The Danish company said it has won local council approval to build the 300 MW solar project in the municipality of Aabenraa in southern Jutland.
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Increasingly, climate is being inserted into a vision of great-power rivalry, rather than co-operation. In the US there are already voices calling for the establishment of green energy policies on the basis of a bipartisan national-security front against China. The tone is more moderate in Europe. But the EU too emphasises the need to recognise China as a ‘strategic competitor’.
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To achieve the current EU 2030 targets, annual investments in energy during 2021-30 will need to increase by over 1 percentage point of GDP (or EUR260 billion) on average compared to the previous decade. For an increased GHG reduction target of 55 per cent, this amount would increase to EUR350 billion. The annual energy infrastructure investments are estimated at EUR59 billion.
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Chinese President has declared that China will strive to become carbon neutral by 2060. The decision has high consequences for the European Union. However, for the time being, a carbon-neutral China remains a vague political aspiration.
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Norway is already well advanced on the way to becoming a climate neutral society. The 5.4 million inhabitants of the country obtain 95 percent of their energy from hydropower. About 1,600 hydropower plants are distributed over the country, which at 385,000 square km is only slightly larger than Germany. Around 3.5 per cent of the electricity comes from wind power.
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In view of the enlarged role for offshore wind in the energy mix in the long run, UK’s policymakers and regulator have been contemplating a change in the current approach to designing and building offshore wind transmission.
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Renewable energy generation projects (36 per cent), transmission and distribution (7 per cent), energy storage and system services (4 per cent), green hydrogen (5 per cent) jointly make up more than half of all projects identified in the report.
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The wind farm, which is expected to be commissioned by 2030, would produce approximately 3.5 terawatt-hours (tWh) of electricity per year, which is approximately 40 per cent of Estonia’s annual electricity consumption.
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Iberdrola and Fertiberia have signed an agreement to investment over Euro 150 million to construct a 100 MW solar photovoltaic plant, a 20 MWh lithium-ion battery system along with a 20 MW electrolytic hydrogen production system.
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