Wednesday, December 12, 2018

Croatia's HEP to Invest $1.85 bln in Renewable Energy by 2030

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Croatia's state-run power utility HEP aims to boost renewable energy to 50 percent of its total capacity from the current 35 percent, investing 1 billion Croatian kuna ($153.96 million) a year on average until 2030, it said on Thursday.It will upgrade existing hydro power plants, as well as adding new ones, and invest in other renewable sources, HEP said in a statement.The company is currently running an open tender procedure for the construction of a 6.5 megawatt (MW) solar power plant on the island of Cres…

Hydrogen As an Energy Carrier

Pic: DNV GL

Hydrogen can play a significant role in decarbonizing world energy supply to mitigate climate change, according to a new research paper by DNV GL, the technical advisor to the oil and gas industry.According to new DNV GL research paper, decarbonization could drive an estimated 100,000-fold rise in demand for hydrogen for energy by 2050. The paper lays out a viable business concept for producing low-carbon transportable hydrogen offshore…

Wind Beats Solar in Danish Green Energy Auction

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Wind emerged as the most competitive power source in Denmark's first auction where wind and solar competed for state subsidies on equal footing to deliver power at the lowest price.Subsidies which have underpinned the growth of renewable energy are cooling as governments around the world opt for more competitive contract tenders, favoring project developers that submit the lowest bids.Denmark, which hopes to end green subsidies altogether before 2030…

Germany to Increase Wind and Solar Power Production

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Germany intends to increase energy production from wind and solar farms by a further 8 gigawatts (GW) over the next three years as the government tries to compensate for its decision to abandon strict emissions targets.Chancellor Angela Merkel's conservatives and their Social Democrat (SPD) junior coalition partners this year dropped plans to lower carbon dioxide emissions by 40 percent from 1990 levels by 2020.The decision was based on…

Turbine Brings New Wave of Energy to Gladstone Port

Image: Gladstone Ports Corporation

Australia's Gladstone Ports Corporation (GPC) is continuing to progress its renewable energy initiatives, with a tidal turbine deployed at its Barney Point Terminal in Gladstone.It is part of a six month trial aimed at demonstrating how tidal flows at the Port of Gladstone can be harnessed to produce electricity, according to a press release from the Queensland's largest multi-commodity port and the fifth largest multi-commodity port in Australia.GPC has partnered with MAKO Turbines Pty Ltd for the demonstration, which is the first of its kind

NYK to Demonstrate Tidal Energy in Singapore

Turbines. Image: NYK Line

Nippon Yusen Kabushiki Kaisha (NYK) and Japanese telecom giant MTI have reached an agreement to participate in a long-term demonstration of tidal energy being sponsored by MAKO Energy and Sentosa Development Corporation, which will provide the demonstration site.The demonstration will start next spring in a first-time attempt to commercialize tidal energy in Singapore.MAKO Energy is the Singapore-based subsidiary of Elemental Energy Technologies…

Petronas Sets Up Team for Renewables Push

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Malaysian state-owned oil and gas firm Petroliam Nasional Berhad, or Petronas, has set up a new business within the group to make a push into renewable energy, the head of the new venture said on Tuesday.Petronas has expressed interest over the last year to diversify into renewables amid low oil prices. In March, Chief Executive Wan Zulkiflee Wan Ariffin said Petronas will explore new business areas including new energy and that the company…

Google to Tap the Power of Offshore Wind

Google invests $700 mln in Danish data center, secures green energyGoogle will invest almost $700 million in a Danish data centre, the latest investment in the Nordic region which is known for its abundant renewable energy.Google said it would match the new centre's use of energy made from fossil fuels with green energy generated through so-called power purchase agreements (PPAs).The Nordic countries, which can generate electricity relatively cheaply from renewable sources such as hydropower and wind…

MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL

(L-R) Ben Oudman, Regional Manager, Central Europe, Middle East and India, DNV GL - Oil & Gas and Jan Zschommler, Manager, Middle East, DNV GL - Oil & Gas. Pics: DNV GL

The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions…

Equinor Makes Solar Energy Push

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Santi Sopa / Adobe Stock

Norway's Equinor has bought a 9.7 percent stake in renewable energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said on Thursday."The investment in Scatec Solar will increase Equinor’s exposure to a fast growing renewable sector, further complementing Equinor's portfolio with profitable solar energy," Equinor said in a statement."This is in line with our strategy to develop into a broad energy company," it said.It paid 700 million Norwegian crowns ($82.55 million) for the stake, corresponding to

North Sea Port Opens Netherlands' Largest Solar Park

Pic: North Sea Port

The Scaldia solar park officially opened in North Sea Port, the logistical heart of Europe. The firm ib vogt installed more than 140,000 solar panels, making this the largest solar park in the Netherlands.The official opening took place with the symbolic starting of the generator, getting the largest solar park in the Netherlands up and running.The Scaldia solar park is located in the municipalities of Borsele and Vlissingen. For Zeeland…

Big Oil Spent 1% on Green Energy in 2018

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Top oil and gas companies jointly spent around 1 percent of their 2018 budgets on clean energy, but investments by Europe's giants vastly outpaced their U.S. and Asian rivals, a study showed.Companies such as Royal Dutch Shell, Total and BP have in recent years accelerated spending on wind and solar power as well as battery technologies, seeking a larger role in global efforts to slash carbon emissions to battle global warming.Investors in recent years ratcheted up pressure on boards of fossil fuel companies including Exxon Mobil…

Denmark-Netherlands Subsea Power Cable Reaches Dutch Coast

Photo: www.cobracable.eu

A subsea power line set to link the networks of Denmark and the Netherlands reached the Dutch coast on Friday as part of plans to share excess electricity from wind farms and other sources.The 325 km (202 mile) long COBRAcable, short for Copenhagen, Brussels and Amsterdam, has a capacity of around 700 megawatts (MW) and is expected to become fully operational in the third quarter of 2019."This is an important step towards the integration of electricity networks in western Europe," said Jeroen Brouwers, spokesman for Dutch grid operator TenneT."

Lightsource BP Expands US Portfolio

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Lightsource BP, Europe's biggest solar energy developer, will expand its U.S. portfolio after signing a deal to build two solar projects, the UK-based company said on Wednesday.The 16 megawatt (MW) Wildflower Solar project will be built in California and has secured a 20 year plus power purchase agreement (PPA) with California’s Sacramento Municipal Utility District.Lightsource BP will also develop a 9 MW solar project in New Mexico which…

​​​​Cambodia to Boost Clean Energy Use

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Cambodia will push ahead with plans to use hydropower and coal to electrify the entire country by 2020, but solar energy will play some role, especially in remote areas, an energy ministry official said on Wednesday.The Southeast Asian nation has electrified rapidly since 2000, when only 16 percent of the population had access to power, according to the World Bank.Today, 87 percent of villages and 73 percent of households are connected to the grid…

Eco Marine Power, ClassNK to Collaborate

EnergySail. Image: Eco Marine Power

In another significant move towards commercial release of the EnergySail, Eco Marine Power (EMP) announced that it has begun collaboration with ClassNK (Nippon Kaiji Kyokai) to confirm design requirements and issues related to sea trials.According to a press release from the renewable energy tech company, the goal is to pave the way to the full commercial production of the EnergySail and thus complete the preparation of technologies required…

Renewables Could Reach 38% of German Power Use

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Germany is on track to produce enough green power to cover nearly 38 percent of its electricity consumption this year, up from about 36 percent in 2017, energy industry group BDEW and research institute ZSW said on Friday.Their forecast was published with data putting the figure at 38 percent share for the first nine months of the year, helped by high wind and solar power generation."Should wind supply develop along the line of recent years' averages in the fourth quarter, then renewables could cover a share of just under 38 percent (of demand)

European Consortium to Convert Coal-Fired Power Plant to Biomass

Photo: Engie/Port of Rotterdam

The European ARBAHEAT consortium will start a research project to investigate the conversion of the ENGIE Ultra-SuperCritical coal-fired Rotterdam power plant into a biomass-fired heat and power plant this month.The innovative technology used to produce the required steam treated biomass has been developed by the Norwegian company Arbaflame AS.Goal of this showcase is to investigate the technical possibilities of cost-effectively converting the coal-fired power plant into a flexible 100% sustainable biomass fired plant…

Senvion, Toshiba Energy Systems Form Wind Energy Alliance

Pic: Senvion

Toshiba Energy Systems & Solutions Corporation and German wind turbine equipment manufacturer Senvion GmbH announced that they signed a mutually non-exclusive strategic cooperation agreement for the distribution of onshore and offshore wind power generation systems.Through this collaboration, Toshiba ESS will sell Senvion's wind power generation system in Japan, using the commercial distribution of Toshiba ESS.The global wind power generation…

STAR Oil Refinery to Reduce Turkey Dependence on Imports, says Erdogan

Photo: SOCAR

A new $6.3 billion refinery set up by the Azeri state oil company in Turkey will reduce Ankara's dependence on imports for processed oil products, President Tayyip Erdogan said on Friday.The new plant could also help to ease some of the pain from Turkey's currency crisis, given that the lira's 35 percent slump this year has driven up costs for the country's energy companies and forced them to increase electricity and natural gas prices for…

Europe Power: Spot Prices Down as Wind Supply Rises

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European prompt power prices fell further on Wednesday from high levels, as the prospect of higher wind power supply overrode some thermal plant losses.German baseload power for Thursday delivery dropped by 12.3 percent to 62.3 euros ($72.03) per megawatt hour (MWh). Monday's day-ahead price had been at an 11-month high, driven by high demand and tight nuclear supply.German wind power production is expected to rise to 6.9 gigawatts (GW) on Thursday from 2.5 GW on Tuesday and range up to 17.3 GW over the next fortnight…

Natural Gas is Here to Stay, Big Oil Says

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Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy.Top oil companies including Royal Dutch Shell, BP and Total are adapting with growing urgency to the need to develop cleaner energy sources, investing more and more in solar and wind power, electric vehicle technology and even forestation.Still, they see oil…

Japan Transfers Excess Renewable Power Between Regions for First Time

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Japan transferred excess renewable energy supplies between two of its electricity regions for the first time since a major shakeup of its power sector, the country's grid monitor told Reuters.The transfer of excess solar power supplies from the island of Kyushu to Japan's main island of Honshu signals an increase in flexibility in the country's previously regionalized electricity grid as the market opens up to competition.Kyushu Electric Power Co transferred up to 1.125 gigawatts on Monday to five utilities including Kansai Electric Power and C

Amarenco Becomes France's Number One in Rooftop Solar

Photo: Amarenco

Amarenco, a leading European renewable energy IPP, has announced that it has become number one in the highly competitive 100kW-8MW rooftop solar segment in France, after winning 32MW in the latest CRE4.5 Buildings tender. Amarenco has been awarded a total capacity of more than 100MW across the five consecutive calls for tenders in this category, far ahead of Urbasolar (81MW) and Technique Solaire (68MW).Amarenco’s rooftop projects are distributed across two development platforms, one of which was established in partnership with TOTAL SOLAR.

NRCAN Grant Triggers Major Investment in the Bay of Fundy

Photo: DP Energy

The next wave of tidal energy development at the FORCE facility in the Bay of Fundy Nova Scotia has been triggered by a substantial grant of $29,750,000 under the Emerging Renewable Power Program (ERPP) from Natural Resources Canada (NRCan).European based renewable energy developer DP Energy is managing two berths in the Bay of Fundy through its Canadian registered company, Halagonia Tidal Energy Limited. It intends to develop both berths…

DNV GL Launches Operations & Analytics Centre in India

Image: DNV GL

DNV GL, the world’s largest independent energy advisory and certification body, has launched a new Global Operations & Analytics Centre for renewable assets located in Bengaluru, India.The new centre will work in tandem with DNV GL’s existing UK Operations Control Centre in Glasgow, to offer seamless 24/7 monitoring services that aim to strengthen performance and operational efficiencies of renewable assets alongside detecting, analysing and predicting failures.DNV GL’s recently published Energy Transition Outlook report forecasts that by 2050…

DNV GL Guidelines for Floating Wind Power

Image: DNV GL

DNV GL, the world’s largest resource of independent energy experts and certification body, has published the revised standard for design of floating wind turbine structures DNV GL-ST-0119, and a new guideline for the certification of floating wind turbines, DNVGL-SE-0422.Together, the two documents define design and certification requirements for floating offshore wind turbine concepts, prototypes and projects. The guidelines provide the most comprehensive technical reference suite for this emerging technology…

Green Energy on the Rise in Thailand

Photo courtesy of BCPG

BCPG Public Company is looking at ways in which innovation in technology and energy management are encouraging consumers to generate reusable energy and sell it on the retail market, Bundit Sapianchai told Oxford Business Group’s online broadcasting channel, Global Platform. Diversifying into more types of renewable energy and seeking innovative products and services is central to the company’s strategy of fulfilling consumer needs. In the wide-range interview…

​​​​Google Buys into New Finnish Wind Energy in Renewables Search

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Google said it has signed a 10-year deal to buy renewable energy from three new wind farms that are being built in Finland and which will power one of its data centers.Big companies have rushed to secure cheap renewable energy to manage costs and reduce their carbon footprint through so-called corporate power purchase agreements (PPAs), which allow firms such as Google, owned by Alphabet Inc, Facebook and Microsoft to buy directly from the energy generator.Google said on Tuesday that the Finnish deal is the first where it is buying power from E

Total adds Solar and Hydro Power Capacity in France

Total subsidiaries have won tenders for 15 French solar power projects and 5 tenders for small-scale hydro power generation units which will add around 112 megawatts of capacity to its portfolio, the energy producer said on Wednesday.The solar power projects will produce around 120 gigawatt hours (GWh) of electricity annually, meeting the requirements of around 45,000 households, Total said.Total is expanding power generation capacity after its $1.7 billion acquisition of alternative electricity provider Direct Energie as it makes a play for th

Mexican Wave Energy Project Moving Forward

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Energy from the ocean breakers that pound Mexico’s Pacific Coast could soon be turned into electricity as an Israeli joint venture finalizes permits and financing for the country’s first wave energy plant.Wave power development has long lagged renewable rivals such as solar, but Eco Wave Power says it could prove an effective way to deliver power to coastal communities in countries such as Ghana or Kenya that have little access to electricity.“The ocean is the biggest renewable resource that we have and it’s completely untapped…

Brazil Becomes Core Ares for Equinor

The West Saturn drillship. Photo: Seadrill

With daily oil production of over 90 000 barrels per day from current fields and with expected investments of more than 15 billion USD until 2030, Brazil has become a core area for Equinor.A press release said that Brazil stands out globally as one of the most promising offshore oil and gas basins with a significant remaining resource base. In addition, the country has a huge potential within renewable energy.Brazil is a great fit with Equinor’s strategy, using the strengths from the experience on the Norwegian Continental Shelf.

Equinor Bets on Offshore Wind

Photo: Equinor

Norway's Equinor is focusing its green efforts on offshore wind, a goal it is already on its way to achieve, but some investors are concerned about the impact this shift will have on the company's bottom line.European oil and gas companies are diversifying their portfolio to include less-emitting sources of energy as a result of the Paris 2015 agreement, which outlines a shift from fossil fuels this century.Equinor, formerly Statoil, is betting on offshore wind…

In Brazil, Equinor Aims to Repeat Norway's Oil Boom

File Image: a typical Equinor offshore north Sea installation (CREDIT: Equinor)

Norway's Equinor will invest up to $15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said on Wednesday.Coinciding with an expected drop in output from many ageing oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country's opening in recent years to more foreign investment.The company plans to raise its Brazilian output to between 300…

'Renewable Majors' will Pioneer Green Energy Transition, says Orsted CEO

Henrik Poulsen  (Photo: Orsted)

Danish offshore wind specialist Orsted aims to become one of a handful of future "renewable majors" that will lead a global transition from fossil fuels to green energy, the company's chief executive said.Orsted has gone through a rapid transition since 2012 when CEO Henrik Poulsen took the helm, shedding its oil and gas business and phasing out coal to become almost entirely green.The group, which has installed about a quarter of the world's offshore wind capacity…

India's Small Renewables Firms Fighting Consolidation Wave

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Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting the sector.The small companies' difficulty in raising cash is keeping them away from government power project auctions, restricting their growth and crippling their ability to refinance loans, said a consultant…

Australian States Delay Approving New Energy Policy

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Australia's states on Friday held off approving a plan to end more than a decade of climate and energy wars and spur investment in new power supply, disappointing industry seeking certainty on energy policy.Prime Minister Malcolm Turnbull is pushing a National Energy Guarantee (NEG) in a bid to bring down electricity prices, which have more than doubled over the past decade, and ensure supplies following a string of blackouts in 2016 and 2017.Energy Minister Josh Frydenberg said after a meeting with state governments that it had been "an import

Orsted Buys US Onshore Wind Developer LCE

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Danish energy group Orsted has agreed to buy U.S. onshore wind farm developer Lincoln Clean Energy (LCE) in a $580 million deal, aiming to gain a foothold in what it sees as a key growth market.The acquisition is the latest move for Orsted as it seeks to shed its fossil fuel business and become an entirely green energy company.Orsted, which has so far mainly developed offshore wind farms in Europe, said the global market for onshore wind…

CWT Solar Project in Port of Amsterdam

Photo: Port of Amsterdam

More than 41,000 solar panels will generate sustainable energy in the Port of Amsterdam for logistics services provider CWT. Spread across five locations, the panels will together form the largest solar project in Amsterdam.In addition to transport and sea shipping operations, CWT is active in the Port of Amsterdam in fields including storage of cocoa and coffee. In order to carry out these activities in a sustainable manner, CWT has opted to use the roofs of its buildings to generate solar power.

Siemens Gamesa, Van Oord win $580 mln Dutch wind farm contract

(Photo: Van Oord)

Wind turbine maker Siemens Gamesa and Dutch marine contractor Van Oord said on Friday they have won a contract worth more than 500 million euros ($580 million) to build a large wind farm in the Netherlands.The 380 megawatt (MW) wind farm on IJsselmeer lake is expected to provide enough energy to power around 380,000 households from mid 2021.Spain's Siemens Gamesa will design and supply 89 wind turbines and service the wind farm for at least 16 years.

In British Virgin Islands, Hurricane Whips up Green Energy Transition

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Nearly a year after Hurricane Irma knocked out power across the British Virgin Islands, electricity boss Leroy Abraham will be among the last residents to have their homes reconnected.But Abraham, general manager of the British overseas territory's electricity corporation (BVIEC), has barely had time to notice his own domestic outage."I was far too exhausted from giving everybody else electricity," said the 48-year-old, gazing at his two-storey house…

Powering Ships with Plastic in Amsterdam

Image: United Nations Environment Programme

In the Port of Amsterdam, a new factory is being built that could revolutionize the way we dispose of plastic waste. Utilizing groundbreaking technology, the facility will use previously unrecyclable plastic to create fuel for diesel powered cargo ships. The group behind the facility is Bin2Barrel, a Dutch company founded in 2012 by waste management entrepreneurs Floris Geeris and Paul Harkema. While the chemical recycling technology used in the past has worked, Bin2Barrel is the first company to utilize it commercially.

Oil Major Eni Pulls Out of Race for RTR Solar Assets in Italy

© Zsolnai Gergely / Photo: Adobe Stock

Italian oil major Eni has pulled out of a race to buy Terra Firma's solar power assets in Italy, a company spokesman told Reuters on Tuesday.The British private equity firm is looking to sell its Rete Rinnovabile, known as RTR, solar portfolio in Italy in a deal expected to fetch more than 1 billion euros ($1.17 billion).If successful, the transaction will be Italy's largest solar energy sale in a fragmented industry that has come under…

Petrobras May Partner with Total on Wind, Solar Power in Brazil

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State-controlled oil company Petróleo Brasileiro SA has signed a nonbinding agreement with France's Total SA and its renewable energy arm to assess potential businesses in onshore solar and wind power in Brazil.Petrobras, as the company is known, said in a securities filing on Tuesday that the agreement means to reduce risks in the Brazilian renewable energy and take advantage of potential gains of scale and cost savings.(Reporting by Bruno Federowski)

TransCanada Urges U.S. to Help Gas Pipeline Approvals

File Image (CREDIT: AdobeStock / © Maksym Yemelyanov )

The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp said at a conference this week. Suppliers in the United States, the world's biggest natural gas producer, have had a harder time getting shipments to market as more environmental lawsuits by U.S. states, green groups and property owners have tied up pipeline construction.

Nuclear, Coal Bailout Would 'keep America free' -US energy chief

File Image (CREDIT: AdobeStock / © Carolyn Franks)

U.S. Energy Secretary Rick Perry said on Thursday that bailing out struggling coal and nuclear power plants is as important to national security as keeping the military strong, and that the cost to Americans should not be an issue. "You cannot put a dollar figure on the cost to keep America free," he told reporters at a press conference in Washington, when asked how much the administration's effort to extend the lives of the facilities would cost. When asked about the cost of a potential bailout, he said he did not yet know.

Finland's Fortum Bets on Fledgling Russian Wind Power Market

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Finnish utility Fortum is hoping to attract financial partners for its new wind and solar projects in Russia, where it aims to capitalise on its decade-long presence in the country to expand in renewables.This approach is similar to moves by Denmark's Orsted , the world's largest owner of offshore wind power sites, which also has sold off large stakes in wind farms to invest the capital in new projects.Earlier this month, Fortum sold 54…

Sempra Energy to Shed U.S. Storage, Renewable Assets

File Image (CREDIT: AdobeStock / © Hansenn)

U.S. utility Sempra Energy said on Thursday it plans to sell some of its natural gas storage and renewable energy assets and expects to record a charge between $1.47 billion and $1.55 billion during the second quarter. Earlier this month, activist investors Elliott Management and Bluescape Resources Co, who have a combined stake of 4.9 percent in Sempra, pushed for a board shakeup and strategic review at the company. The activist investors…

Equinor Installs World’s First Battery for Offshore Wind

Photo: Equinor

With Batwind in operation, it will for the first time be possible to store energy produced from an offshore wind farm.The battery storage solution was presented in Peterhead, Scotland today by Batwind partners Equinor and Masdar. Electricity produced at the world’s first floating offshore wind farm Hywind Scotland, located 25 kilometers off the coast of Peterhead, will be transported via cables to an onshore substation where the 1 MW batteries are placed and connected to the grid.

DNV GL Unveils Renewable Energy Data Platform

Photo: DNV GL

DNV GL is launching GPM Horizon, a data monitoring platform with full integration of current and future renewable energy systems including solar PV, wind and energy storage assets. GPM Horizon enables future-proof fleet management by bringing digitalization technologies and integrated renewables systems together in one platform, which are the key drivers for the global energy transition.Global energy forecasters, including the International Energy Agency, foresee a rapid growth in renewable sources.

EU Agrees Final Energy Saving, Renewables Targets

(Photo: Eric Haun)

The European Union on Wednesday finalized new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030.National governments must now draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent below 1990 levels by 2030 in line with the Paris Agreement.Talks have dragged on…

No Signs of Oil Shortage After Drop in Spending -BP CFO

Brian Gilvary (Photo: BP)

BP does not yet foresee a shortfall in oil supplies in the coming years due to a fall in investments across the sector, the company's Chief Financial Officer Brian Gilvary said on Thursday.Although investment in new oil and gas projects more than halved following the collapse of oil prices in 2014, U.S. shale oil production has surged in recent years as drillers adapted.The U.S. output growth helped offset production cuts by OPEC and several…

Pope Warns Energy Bosses of Global Destruction without Fuel Shift

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Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe."Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives at the end of a two-day conference in the Vatican.Climate change was a challenge of "epochal proportions", he said, adding that the world needed an energy mix that combated pollution…

Batteries hasten winds of change for electricity stocks

(Photo: Eric Haun)

Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.After a decade of steep cost declines, wind and solar installations, often paired with battery storage, are increasingly displacing older coal and gas-fired power plants, benefiting battery makers and some utilities,…

Enphase Energy Names Former Tesla Exec as CFO

Solar inverter maker Enphase Energy on Monday named former Tesla Inc executive Eric Branderiz as its Chief Financial Officer.Branderiz was the chief accounting officer at Tesla and quit the position in March, citing personal reasons.At Enphase, he will succeed Bert Garcia effective immediately.(Reporting by Akshara P in Bengaluru; Editing by Arun Koyyur)

Trump Administration Mulls New Plan to Help Ailing Coal, Nuke Plants - Bloomberg

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Trump administration officials are considering requiring grid operators to buy electricity from ailing nuclear and coal-fired power plants to keep them from being shuttered, according to a Bloomberg news report on Friday that cited a draft memo.If adopted, the move would mark an unprecedented intervention in power markets, and would serve the administration's goal of bolstering America's struggling coal and nuclear industries that have been shrinking amid competition from natural gas, solar and wind power.Under the plan, the U.S.

Pope to Address Oil Majors in Vatican Climate Conference

© Mazur/catholicchurch.org.uk

The Vatican will host executives of the world's top oil companies for a conference next week on climate change and the transition away from fossil fuels, a Vatican source said on Friday.Pope Francis, who wrote a major document on protection of the environment from global warming in 2015, is expected to address the group on the last day of the June 8-9 conference.The conference, organised by Notre Dame University in the United States, is expected to be attended by the heads or senior executives of companies including ExxonMobil…

Cryptocurrency May Light Up Renewable Energy in Moldova

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Moldova, a small, landlocked country in eastern Europe, imports three-quarters of its energy and has seen its energy prices rise by more than half in the past five years.But that could soon change, according to the United Nations Development Programme (UNDP), which this year will launch an innovative effort to power a Moldovan university with cryptocurrency-funded solar energy.The initiative with Sun Exchange, a South African solar power marketplace…

Arctic Oil 'Undrillable' amid Global Warming -UN's Ex-climate Chief

Photo: Ole Jørgen Bratland / Statoil

An architect of the Paris climate agreement urged governments on Tuesday to halt oil exploration in the Arctic, saying drilling was not economical and warming threatened the environmentally fragile region.Christiana Figueres, formerly head of the U.N. Climate Change Secretariat when the Paris accord was reached by almost 200 nations in 2015, told Reuters by telephone "the Arctic has been rendered undrillable."The past three years have been the hottest since records began in the 19th century…

REDEN Solar Enters the Portuguese Solar Market

Photo: Reden Solar

REDEN Solar, a solar IPP from France, has acquired several existing photovoltaic power plants in Portugal, representing a total capacity of 50 MW. The French Solar project developer also announced plans to develop new projects in the country in the coming years.The company, which already has a strong presence in France and Latin America, said it has chosen to continue its European development in Portugal, due to favorable economic prospects and the country's strong commitment to renewable energies.