Coal Price Surge Justified by China's Dynamics: Russell
How much of the current surge in thermal coal prices in Asia is because of a fundamental shift in the supply-demand balance, and how much is down to speculative froth? This is a question often asked when a commodity experiences a strong gain - or drop - in price, especially when the fundamentals don't appear to have shifted that much, at least on a casual view. Virtually everybody in the coal industry can agree that the strong performance in seaborne thermal coal this year is being driven by market dynamics in top importer China.
Sierra Club sues US Energy Department
Environmental group the Sierra Club sued the U.S. Energy Department on Monday in hopes of forcing it to reveal the groups it has consulted in conducting an eagerly awaited study on the electricity grid. It was the latest push-back on the department’s study from backers of renewable energy such as wind and solar power who fear it could be used by the Trump administration to form policies that could slow growth in the industry. Energy Secretary Rick Perry…
GMG Completes Cable Burial Work off the Netherlands
Global Marine Group (GMG), a provider of offshore engineering services to the renewables, telecommunications and oil and gas industries, said it has completed a remedial cable burial project for Prinses Amaliawindpark (PAWP), a wind farm off the Netherlands’ West Coast. PAWP covers an area of around 14km2 and comprises of 60 wind turbines that are connected by eight in-field cable strings that converge at the central offshore high voltage station.
Germany's Long Goodbye to Coal Despite Merkel's Green Push
Coal needed for power supply security for decades. Burning coal for power looks set to remain the backbone of Germany's energy supply for decades yet, an apparent contrast to Chancellor Angela Merkel's ambitions for Europe's biggest economy to be a role model in tackling climate change. Merkel is avoiding the sensitive subject of phasing out coal, which could hit tens of thousands of jobs, in the campaign for the Sept. 24 election, in which she hopes to win a fourth term.
European Oil Majors Enter U.S. Offshore Wind Markets
Statoil, Shell, DONG Energy turn to U.S. offshore wind; oil firms bring big budgets, offshore tech and risk experience. Some European oil majors have made inroads into the emerging U.S. offshore wind energy market, aiming to leverage their experience of deepwater development and the crowded offshore wind arena at home. Late entrants to the offshore wind game in Europe, which began with a project off Denmark 25 years ago and is now approaching maturity…
The Energy Patch: where rights offerings are "sexy" again
Energy businesses that are trying to exit bankruptcy are finding a saviour in some of their own creditors, which have been scooping up newly issued stock from the companies at hefty discounts. More than a dozen so-called rights offerings have raised billions of dollars over the past 18 months, according to data compiled by Reuters, to help revitalize these energy companies in return for large fees and juicy investment returns. But those benefits have not been equally shared among all the creditors providing the cash.
Shell Plans 400 Job Cuts in the Netherlands
Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters. The world's second-largest oil company by market capitalisation said in a statement responding to questions from Reuters that "approximately 400 (staff) are potentially at risk of redundancy during the last quarter of 2017/first half of 2018".
EMP Aquarius MRE Prepares for Sea Trials
Eco Marine Power (EMP) has begun preparing for sea trials of its Aquarius Marine Renewable Energy (MRE) solution in co-operation with strategic partners and ship owner Hisafuku Kisen K.K. of Onomichi, Japan. This preparatory work will lead to the world’s first installation of an integrated rigid sail and solar power system for ships using EMP’s patented technologies including the EnergySail. This is a major step forward towards a more sustainable…
Blackrock, Lightsource Target UK Solar Power Portfolio
Asset manager Blackrock and solar energy firm Lightsource have agreed to jointly create a 1 billion pound ($1.3 billion) portfolio of solar power assets in Britain over the next three years, the two companies said on Tuesday. The partnership, called Kingfisher, will initially include 25 of Lightsource's British solar assets with a combined capacity of 156 megawatts (MW), which have already secured government subsidies for their power production.
Wind, Solar Do Not Harm Power Grid Reliability -Draft US Study
The growth of renewable power, including wind and solar, has not harmed the reliability of the U.S. electricity grid, according to a draft U.S. Department of Energy study, echoing the findings of grid operators across the country. The conclusion of the draft, dated July and viewed by Reuters, could ease fears in the renewable energy industry that the widely anticipated study would be used by President Donald Trump's administration to form policies supporting coal plants at the expense of wind and solar.
Saudi Aramco to Set up Companies for Energy Industrial City
Saudi Aramco received the approval of the Saudi government to set up two new companies that will develop and operate a new Energy Industrial City in Saudi Arabia, as the kingdom seeks to expand its industrial base, state news agency SPA reported on Monday. The city will be developed over 50-square km of land in the oil producing region, SPA said quoting a cabinet statement. An earlier report said the city will be close to Abqaiq and will develop energy-related industries.
Vattenfall to Save $356 Mln a Year after Sweden Tax Phase Out
Swedish state-owned power utility Vattenfall will save about 3 billion Swedish crowns ($356 million) a year after the country's nuclear tax has been phased out and will use the savings to extend the life of its reactors, its CEO told Reuters. On July 1, in a long expected move, Sweden started a two-year phasing out of its tax on nuclear power production, which many nuclear energy producers, including Vattenfall , said had created losses and halted investments. "The tax reduction will be 3 billion crowns per year ...
French Wind Power Sector to Consolidate Further -EDF
France's wind power generation sector will consolidate further, the head EDF's renewables unit Antoine Cahuzac said on Wednesday as the company moves to complete the takeover of wind energy developer Futuren . The renewables subsidiary of the French state-controlled utility has acquired 67.2 percent of Futuren, and will on Thursday launch a public offer for the remaining shares in a deal worth 320 million euros ($363 million). "The consolidation will not end here," Cahuzac, Chief Executive of EDF Energies Nouvelles, told reporters.
Indian Renewable Firms Plan $2.5 Bln in Offshore Dollar Bond Issues
Four Indian renewable power producers are planning to raise up to $2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised $250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues…
Europe to be Natural Gas Kingmaker
It's probably not quite here yet, but the trend is unmistakeable; the world is moving to a globally-linked natural gas market and the rise of liquefied natural gas (LNG) is the key driver. Much of the increase in LNG capacity is because of the rapid boost to plants in Australia and the United States, as both countries take advantage of abundant local reserves of natural gas to muscle in on a market that until recently had been dominated by a few established producers and buyers.
'Bring On More Renewables,' US Regulator Says
Wind and solar power does not make the U.S. electricity grid less stable, an outgoing federal regulator said on Tuesday, as the Trump administration readies a study that will examine whether renewable energy has had a harmful effect. Colette Honorable, a member of the Federal Energy Regulatory Commission, said at a conference that renewables have different attributes than base load power, which includes coal and nuclear energy, and that those difference need to be overcome.
China Cash Boosts African FLNG Projects
China aims to become lowest-cost seller of FLNG plants; its shipyards to build floating plants for African projects. China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s. Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor…
Coal Isn't Dead (Yet): Russell
Here's a question for the anti-coal lobby. If coal is dying, how come there is an increasingly heated bidding war going on for Rio Tinto's coal mines in Australia? Here's another question, this time for the pro-coal lobby. If coal still has a viable long-term future as an energy source, how come the world's biggest planned new mine is now hostage to whether the Australian government decides to loan it money? Reconciling these two questions…
Rapid Nuclear Decommissioning Threatens Climate Targets, says IEA
Decommissioning nuclear plants in Europe and North America from 2020 threatens global plans to cut carbon emissions unless governments build new nuclear plants or expand the use of renewables, a top International Energy Agency official said. Nuclear is now the largest low-carbon power source in Europe and the United States, about three times bigger than wind and solar combined, according to IEA data. But most reactors were built in the 1970s and early 80s, and will reach the end of their life around 2020.
Wind, Solar Energy No Threat to Grid: Industry Study
With the Trump administration expected to publish an analysis that could undermine the U.S. wind and solar industries, two renewable energy lobbying groups on Tuesday released their own study saying new energy sources pose no threat to the country's power grid. Wind and solar advocates have said the government study's outcome appeared to be pre-determined to favor fossil fuel industries. The new report, commissioned by the American Wind Energy Association and Advanced Energy Economy…
IEA Welcomes Hungary's Efforts in Energy Sector
Hungary took a major step in the right direction with its National Energy Strategy to 2030, which was published in 2011. The country must now make greater use of market-based mechanisms in the energy sector to meet its goals, according to the International Energy Agency's latest assessment of Hungary's energy policies. The main objective of Hungary's energy strategy is to ensure a sustainable and secure energy sector while supporting the competitiveness of the economy.
F2i buys Seven Wind Farms in Green Drive
F2i, the largest infrastructure fund operating in Italy, said on Tuesday it will strengthen its position in green energy by buying seven wind farms in the south of the country. The fund, which is around 14 percent owned by state lender Cassa Depositi e Prestiti, said it had bought the wind plants on the island of Sicily and in Calabria from Italy's Veronagest. It did not disclose the price for the 282 megawatt wind power portfolio, but in a joint statement with Veronagest it said the deal is expected to be wrapped up by the end of June.
Boosting Renewable Energy Requires Gas Too -ConEd
Shifting more U.S. energy production to renewable sources such as wind and solar power is doable but will require greater use of natural gas and overcoming opposition to building pipelines, a senior executive of a U.S. utility said on Thursday. Consolidated Edison Inc no longer defaults to the traditional utility solution of building more infrastructure to meet growing demand for power, said Craig Ivey, president of the company unit serving New York City and nearby suburbs.
French Installed Wind Capacity Soared in Q1
France installed 330 megawatt (MW) of renewable wind power capacity in the first quarter of 2017, the biggest increase in any first quarter, taking total French wind power capacity to over 12 gigawatts (GW), the Ecology Ministry said in a report. The increase in capacity was boosted by new projects which were connected to the grid during the quarter, boosting French electricity output from wind turbines to about 6.9 terawatt-hour (TWh) in the quarter, or about 4.8 percent of French demand.
QOS Energy sets up Indian Office
QOS Energy, a renewable O&M analytics software provider, opened a new office in India to better serve the booming Indian market. “QOS Energy provides turnkey O&M analytics services to unleash the value of data from thousands of renewable energy plants across the world. With its target to ramp up solar power generation to 100 GW by 2022, India is poised to become one of the largest PV market in the world. Our customers’ business needs reflect this trend.
Solarworld Files for Insolvency
Germany's Solarworld has filed for insolvency proceedings, defeated by Chinese competition which has flooded the market with cheap solar panels. "Due to the ongoing price erosion and the development of the business, the company no longer has a positive going concern prognosis, is therefore over-indebted and thus obliged to file for insolvency proceedings," Solarworld said in a statement on Wednesday. It added that it was assessing if affiliated companies would also have to file for insolvency.
ESCO Acquires Renewable NRG Systems
ESCO Technologies Inc. announced it has acquired NRG Systems, Inc., doing business as Renewable NRG Systems, located in Hinesburg, Vermont. NRG, founded in 1982, is a designer and manufacturer of decision support tools for the renewable energy industry, primarily wind. NRG serves electric utilities, wind turbine manufacturers, renewable energy developers, research institutes, and government agencies in more than 150 countries. The business…
SunPower Corp Posts Bigger Quarterly Loss
U.S. solar company SunPower Corp reported a bigger loss on Tuesday, hurt in part by higher costs. The company, which is majority owned by France's Total SA , said its net loss attributable to shareholders widened to $134.5 million, or 97 cents per share, in the first quarter ended April 2, from $85.4 million, or 62 cents per share, a year earlier. Total revenue rose to $399.1 million from $384.9 million. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak Dasgupta)
Vivint Solar Reports Quarterly Profit on Lower Costs
U.S. solar company Vivint Solar Inc reported a quarterly profit on Tuesday compared with a year-ago loss, helped by lower costs. The company, which largely caters to the residential solar market, reported net income attributable to shareholders of $13.3 million, or 11 cents per share, in the first quarter ended March 31, compared with a loss of $31.2 million, or 29 cents per share, a year earlier. The company recorded a one-time impairment charge of $36.6 million in the year-ago quarter.
Statoil Interested in Algerian Offshore, Renewables
Norway's Statoil is interested in investments in Algeria's offshore potential and solar and wind energy projects, Norway's foreign affairs minister said after meeting with his Algerian counterpart, a ministry statement said on Tuesday. Statoil is already operating in Algeria's gas sector, but it is the first time the company has expressed public interest in renewable energy projects and offshore projects in Algeria. Algeria, hit by the crash in global oil prices…
Saudi Arabia Shortlists Companies for Solar, Wind Projects
Top oil exporter Saudi Arabia has shortlisted companies for its solar and wind power projects, as part of the first round of its renewable energy initiative, the energy ministry said on Monday. France's EDF Energies Nouvelles, Japanese companies Marubeni Corporation and Mitsui & Co. and Saudi Acwa Power are among the firms which have qualified to bid for the 300 megawatt solar PV project in Sakaka, the Al Jouf Province in the north of the kingdom.
LNG Turns to Trading, Risk to Maintain Market Share
Woodside, Shell see big opportunity in small-scale LNG. Producers of liquefied natural gas (LNG) have shot themselves in the foot with oversupply, and face calls for flexibility and greater competition from other fuels that may force them to take more risks and start trading just like other commodity dealers. That's a big change for a market long dominated by large producers such as Royal Dutch Shell and BP who provide major importers with fixed volumes under multi-decade contracts linked to the price of oil.
New EU Rules Aim to Make Power Cheaper
Utilities in the European Union may have to offer more flexible prices from 2020 to encourage consumers to use more electricity when supplies are abundant and cheap, according to proposed new rules, a top EU official said. Most European utilities sell at fixed prices, regardless of price swings on wholesale markets, which makes sense when most power comes from coal and nuclear plants that are always on. But the surge in intermittent renewable energy…
Danfoss, General Electric Join Forces
Danfoss Silicon Power has announced it is establishing production in the U.S. and entering into a collaboration with industrial giant General Electric (GE). The collaboration means that Danfoss Silicon Power will become the world’s leading provider of silicon-carbide (SiC) power modules. The SiC power modules will create smaller, faster, and more effective electronic devices — and are expected to revolutionize the technology within solar and wind energy as well as the future generations of electric and hybrid cars.
Partners Spur Renewable Electricity Integration
Hydrogen addition from renewable sources to natural gas supports the decarbonization of the natural gas system and integration of sustainable energy sources. However, the properties of hydrogen differ significantly from those of natural gas, and its introduction into the gas infrastructure may negatively impact public safety, the integrity of the gas system and the performance of end-use equipment. The HYREADY Joint Industry Project (JIP)…
Green Power Law Impacting U.S. Utilities
In the last four years, North Carolina has become the second largest solar market in the United States, behind only California. It has installed more solar energy than Texas, which has nearly three times the population; more than Arizona, which has twice as many sunny days; and more than New York, which has far more aggressive renewable energy targets. North Carolina’s solar boom is rooted in a federal law enacted four decades ago – one that has only recently had much impact.
Trump Signs Order Sweeping away Obama-era Climate Policies
U.S. President Donald Trump signed an executive order on Tuesday to undo a slew of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court. The decree's main target is former President Barack Obama's Clean Power Plan that required states to slash carbon emissions from power plants - a critical element in helping the United States meet its commitments to a global climate change accord reached by nearly 200 countries in Paris in 2015.
Vattenfall to Invest $1.9 bln in Wind Power in 2017-2018
Sweden's Vattenfall will invest 17 billion crowns ($1.94 bln) in onshore and offshore wind power during 2017-2018, the state-owned utility said on Tuesday. Spending on wind power will account for 60 percent of an investment programme worth 28 billion crowns, highlighting a strategic shift from fossil fuels to renewable energy. Most of the rest of the funds will go on solar power and distribution. The company aims to commission 2,300 megawatts (MW) or more of new renewable capacity in the five years to 2020.
Asian Spot LNG Prices Slip on Weak Demand
Asian spot LNG prices fell this week on poor demand from major gas-consuming regions despite a slew of new purchase tenders. The May spot LNG contract fell by $0.25 cents to $5.40 per million British thermal units (mmBtu), with new production coming on stream in Australia and the United States. Analysts and traders mainly blamed low demand for driving prices lower. In the Middle East, Abu Dhabi was staying on the sidelines of the market and new solar power capacity in Dubai was eroding gas demand there.
Top LNG Buyers Form Alliance to Push for Flexible Contracts
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Japan, China and South Korea are the world's biggest LNG importers, accounting for about 55 percent of global purchases, according to data from energy consultancy Wood Mackenzie. The countries' biggest respective buyers are joining together to extract concessions…
Yaskawa Invests In Large-capacity Kinetic Energy Storage Company, Teraloop
Yaskawa Electric Corporation has completed a strategic investment in Helsinki-based Teraloop, a startup grid- and utility-scale kinetic energy storage company. This equity investment aims to help Teraloop accelerate the steps needed to bring its patent-pending storage solution to the market within the next two years. The financing will allow the prototype to be finalized for a complete simulation in commercial working conditions. This latest…
SOLV Deploys QOS Energy’s O&M Management Platform
SOLV, an independent solar O&M service provider in America and a division of EPC contractor Swinerton Renewable Energy, has begun deployment of QOS Energy’s Qantum software to monitor and support the operations and maintenance of more than 1 GW of solar PV plants in the United-states. Qantum is an innovative cloud-based analytics platform that allows SOLV to harness the power of the data generated by the multiple PV installations they manage on behalf of leading renewable energy project owners.
Statkraft Eyes Distressed Assets After Offshore Wind Exit This Year
* Says still sees high interest for renewable energy in California and other state of the U.S. and willingness to continue putting up investment schemes, despite lack of clarify from the new U.S.
EFG Hermes Expects to Buy UK Solar Assets by June
EFG Hermes expects a deal for its renewable energy platform Vortex to buy a portfolio of solar power assets in Britain for 470 million pounds ($576.8 million) from Sun Edison's Terraforma (TERP.O) to close in May or June, a senior executive said on Monday. The deal formed part of the bank's plan to grow Vortex's assets to 2 gigawatts in the next few years from 820 megawatts currently, Karim Moussa, chief executive of the investment bank at EFG Hermes, told Reuters. The bank said in January it had agreed to buy the portfolio from Sun Edison.
What does Trump's Presidency Mean for the Power Industry?
Donald Trump has promised numerous changes, many of which impact the sectors that NES Global Talent operates in. Although he has only been in office for 39 days at the time of writing, he has already made numerous policy adjustments. In a recent NES survey, 63% of oil and gas professionals felt Trump’s government will have a positive effect on the oil and gas industry and 64% from the U.S. felt more confident about their job prospects as result, but we also wanted to get an expert opinion on how Trump's government may effect the power market.
U.S. Military Marches on Green Energy
President Donald Trump and his top advisors have often scoffed at government support of green energy. But the largest U.S. government agency - the Department of Defense - plans to forge ahead under the new administration with a decade-long effort to convert its fuel-hungry operations to renewable power, senior military officials told Reuters. The reasons have nothing to do with the white-hot debate over climate change. In combat zones, green energy saves lives by…
Singapore Carbon Tax Would Hit Refiners, Help Renewables
Proposed carbon tax would deal blow to refineries; Singapore is main regional oil trading hub. Singapore's proposed plan to tax greenhouse gas emissions would probably hit oil refiners hard, ramping up costs in an industry that has been central to the city-state's rapid development over the last half-century. Monday's announcement that a carbon tax on direct emitters is to be introduced from 2019 shows that Singapore, Asia's main oil trading hub, could be moving towards a longer-term future dominated by cleaner technology and resources.
Australia says clean energy fund could underwrite new coal plants
Australia is considering altering legislation to enable funds slated for clean energy developments to be used to bankroll construction of new low emission, coal-fired power plants. The suggestion by Energy Minister Josh Frydenberg comes after a major power outage during a heat wave in South Australia state worsened a row with the national government over energy security and the state's heavy reliance on wind and solar power. Frydenberg said…
EU countries clear 18-month extension of China solar duties
European Union member have cleared an 18-month extension of import tariffs on solar panels from China, a compromise position after initial opposition, sources said on Friday. Anti-dumping and anti-subsidy duties have been in place on Chinese solar panels and cells since 2013 and are currently under review as to whether they should be maintained. The European Commission had initially proposed a two-year extension, but that was rejected by a majority of EU countries in a vote last month, prompting the Commission to revise its proposal.
Saudi Arabia Debating Shape of Aramco Ahead of IPO
Saudi Arabia is considering two options for the shape of Saudi Aramco when it sells shares in the national oil giant next year: a global industrial conglomerate, and a specialised international oil company, industry and banking sources said. The listing of Aramco <IPO-ARMO.SE>, expected to be the world's biggest initial public offer and raise tens of billions of dollars, is a centrepiece of the government's ambitious plan - known as Vision 2030 - to diversify the economy beyond oil.
Senate Set to Approve Trump's EPA Pick
The U.S. Senate is expected to approve President Donald Trump's pick to run the Environmental Protection Agency on Friday over the objections of Democrats and green groups worried he will gut the agency, as the administration readies executive orders to ease regulation on drillers and miners. Trump's nominee, Oklahoma Attorney General Scott Pruitt, is likely to pass the vote scheduled for midday with the support of nearly all the Republicans in the Republican-controlled Senate. The vote could take place earlier in the day.
Former EPA Employees Oppose Trump's Nominee
Despite nearly 800 former Environmental Protection Agency officials urging the U.S. Senate to reject President Donald Trump's nominee to run the agency as the chamber moved closer on Thursday to approving his pick, Scott Pruitt, the attorney general of oil-producing Oklahoma is likely to be confirmed. The 773 former officials signed a letter organized by the nonprofit group Environmental Integrity Project that said Pruitt's record and public statements suggest he does not agree with underlying principles of environmental laws.
California Wind Demand Energizes Transmission Firms
A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California, where officials have set ambitious green power goals. The $5 billion project, however, will be constructed 700 miles away in Wyoming, a state better known for coal mines and oil fields. The vast distance between the two states provides a different Anschutz…
Germany's Solarworld Cuts Jobs, Production as Loss Widens
Solarworld said on Friday it would cut 12 percent of its workforce after reporting a bigger operating loss for last year. The company, hit by price pressures across the solar industry, said it would phase out production of some components at its factories to reduce overlap, which would result in about 400 job cuts by 2019. "These measures will decrease costs and increase efficiency significantly," Chief Executive Officer Frank Asbeck said in a statement.
Coal Shortfall Buoys Miner Bottom Line
Coal prices have surged, topping oil, LNG, copper gains in 2016. Many a swan song has been sung for thermal coal markets as renewable power generation and a push towards using more natural gas have gained traction. Yet a coal price spike last year, driven by a Chinese change in regulation that capped local mining operations, has shown how easily markets can swing from oversupply to shortfall. While many analysts and investors see the long…
Global Study into use of Wind, Solar Power on Ships
In co-operation with several shipping companies and technology partners, Eco Marine Power (EMP)has begun a detailed study focused on the practical applications of its patented EnergySail and Aquarius MRE technologies. The study will cover the engineering aspects of installing an EnergySail or Aquarius MRE based solution on a variety of ships and the expected Fuel Oil Consumption (FOC) and CO2 savings that can be achieved in an operational environment. Energy storage options will also be studied including the possible use of fuel cells.
Siemens, Voest and Verbund to Build Largest Green Hydrogen Site
Siemens, steel maker Voestalpine and hydropower firm Verbund are planning to build a cutting-edge plant to make green hydrogen more suitable for industrial use, the companies said on Tuesday. Utilities and industrial firms are under increasing pressure to reduce carbon dioxide (CO2) emissions and they hope to use excess power generated by renewable sources such as wind or solar to create hydrogen from water with electrolysis. The hydrogen can then be stored for reconversion into power or for direct industrial use.
EU Proposes Shorter Extension of China Solar Duties
The European Commission has softened its proposal to extend anti-dumping duties on imports of Chinese solar panels after opposition from a majority of EU countries, according to a document seen by Reuters. The Commission, which oversees EU trade policy, recommends limiting the extension of measures to 18 months, from an original 24, and making clear that this period represents a final phasing out of duties that have been in place since 2013. The proposal will be put to a meeting of the EU's 28 commissioners on Wednesday, a source said.
China's solar power capacity doubles
China's installed photovoltaic (PV) capacity more than doubled last year, turning the country into the world's biggest producer of solar energy by capacity, the National Energy Administration (NEA) said on Saturday. Installed PV capacity rose to 77.42 gigawatts at the end of 2016, with the addition of 34.54 gigawatts over the course of the year, data from the energy agency showed. Shandong, Xinjiang, Henan were among the provinces that saw the most capacity increase…
Allianz, MFUG Invest in EDF-owned Wind Deal
Allianz and Japanese bank Mitsubishi UFJ Financial Group (MUFG) have invested in a U.S.-based wind park owned by French utility EDF , Allianz said, as the German insurer expands its renewables portfolio. Allianz, which gave no further financial details, said the 225 megawatt (MW) Great Western wind project is about 200 km (125 miles) north-west of Oklahoma City and can power about 70,000 households. Renewable assets in the United States have attracted billions of euros from foreign investors in recent years…