Weekly HEG Global Energy Digest
German RWE restructures its gas, coal production business
German firm RWE AG has reorganized its gas, hard coal, hydroelectric power and biomass generation businesses to merge within its subsidiary RWE Generation.
From now, the main company, RWE Generation and it’s another subsidiary RWE Power, will join their efforts in operating effectively as independent enterprises with devoted executive boards.
The company wants to reorganize its portfolio in an efficient way, adjusting to a changing market environment.
Rolf Martin Schmitz, chairman and CEO of parent company RWE AG, declared: “This is why we decided last year to make our electricity generation companies more flexible, while aligning them more closely to their respective energy sources.”
RWE AG has its main office in Essen, Germany. The energy company offers services in three business areas – Lignite and Nuclear, European Power (gas, coal, hydro, and biomass) and Supply & Trading.
As of 1st of January 2018, the German energy firm is responsible for electricity generation from lignite, being currently the strategic manager of nuclear power.
Article Source: http://www.energymarketprice.com/energy-news/german-rwe-restructures-its-gas–coal-production-business
Gas exports to Europe via Norway’s pipeline hit a record high in 2017
Gas exports to Europe through Norway’s pipeline attained a record high in 2017, according to preliminary data collected from the country’s offshore gas systems operator Gassco.
The Nordic state exported 116 billion cubic meters (bcm) of natural gas through pipelines to receiving terminals in UK, Germany, France and Belgium last year, or a 7% increase from the previous record of 108.6 bcm in 2016.
About a quarter of Europe’s demand is met by Norwegian energy supplies. According to analysts, Norway’s export levels in 2017 were considerably higher because of low summer maintenance at the country’s offshore gas fields, and increased production from its largest field, Troll.
Statistics show that more than 40 percent of all exports were directed to Germany, and over 30 percent to Great Britain. The rest of exports were shared between France and Belgium. The peak daily delivery in 2017 was estimated at 365.3 million cubic meters.
Norwegian authorities established higher Troll field production quota to 36 billion cubic meters from Oct. 1, 2017 until Sept. 30, 2018, or an increase from 33 billion cubic meters for the previous 12 months. Since 2012, Norway’s export of gas to Europe has climbed to over 100 billion cubic meters per year.
Article Source: http://www.energymarketprice.com/energy-news/gas-exports-to-europe-via-norway%E2%80%99s-pipeline-hit-a-record-high-in-2017
Canada invests £41.9 million in British solar
A Canadian renewable energy company inked a £41.9 million refinancing agreement with German bank BayernLB for several solar projects in UK.
Canadian Solar settled a project finance facility with German bank BayernLB for 10 operational plants with an overall generation capacity of 52.2 MW.
According to the energy firm, the projects are being endorsed under the terms of the Renewable Obligation Certificate (ROC) scheme for a period of 20 years.
Shawn Qu, Canadian Solar Chairman and CEO, declared: “We are excited to continue our partnership with BayernLB as we seek opportunities to expand our solar energy development initiatives across Europe.”
According to a solar energy fund in the Great Britain, the overall yearly energy production for 2017 in the UK is anticipated to be lower than its initial expectations.
Article Source: http://www.energymarketprice.com/energy-news/canada-invests-?41-9-million-in-british-solar
Finnish clean energy company will provide a wave park in Bali
A 10MW wave energy park will be constructed in Bali by a Finnish clean energy firm, named Wello, which received first commercial wave energy park order from Gapura Energi Utama, an Indonesian infrastructure firm.
Wello energy company affirmed that the facility will generate zero emissions, likely to become the biggest wave energy park globally.
Penguin wave energy converter of the site can operate in difficult ocean conditions thanks to the way it floats on the surface of the water. Wello also says that the plant will make no visual or noise pollution.
Once the firm will obtain full permission from authorities, it will start delivery and construction process. According to estimations, the final permission is likely to be obtained at the end of 2018.
Heikki Paakkinen, CEO and Founder of Wello, declared: “I am extremely proud that our long-term development work is now rewarded with this order. The cost of energy generated with Wello Penguin is already very competitive compared to offshore wind energy and in serial production we aim for a further 50% cost reduction.”
Article Source: http://www.energymarketprice.com/energy-news/finnish-clean-energy-company-will-provide-a-wave-park-in-bali