Weekly HEG Global Energy Digest
Statoil gets into Poland’s offshore wind market
Norway’s Statoil inked an accord with Polish energy company Polenergia to obtain a 50 percent interest in two early stages of offshore wind development projects in Poland.
The company stated that the two projects have an estimated capacity of 1,200 megawatts with the potential to connect over two million Polish households.
Irene Rummelhoff, executive vice president of new energy solutions in Statoil declared: “We are very pleased to have entered into a partnership with Polenergia, which is an experienced energy company with a growing renewable portfolio and in-depth knowledge of the Polish electricity market.”
Also, she affirmed that part of Statoil’s target is to expand significantly in renewable energy by pumping up to €10 billion investment in profitable green energy towards 2030.
The Baltyk Srodkowy II and III wind projects are situated in the Baltic Sea around 27 and 40 kilometers, respectively from the port of Leba in water depths of 20-40 meters.
Statoil is already designing the Arkona offshore wind farm jointly with EON in the German part of the Baltic Sea. The company is also running three offshore wind sites off the U.K. coast.
Offshore wind already has a strong position in Europe with more than 15 gigawatts (GW) of installed capacity, with a possibility to hit between 50 and 70 GW by 2030.
The Polish Baltic Sea has potential of more than 8 GW, of which the first 4 GW could become functional by 2030.
Article Source: http://www.energymarketprice.com/energy-news/e-on-offers-its-clients-%E2%80%9Cvirtual-battery%E2%80%9D-for-solar
Italian company will construct a solar plant in Iran
Renewable energy developer Atlantis has started a five-year bond to support back its future projects.
Through Abundance Investment Limited’s renewable peer-to-peer investment platform, the bond offer is looking to raise a minimum of £2 million and a maximum of £5 million.
These profits will be used to hasten the development of opportunities such as Uskmouth power station conversion and the Wyre tidal gateway project, to recover debts and to offer general working capital.
The bond matures in 2023 – it has a coupon of 8%, payable twice a year and is likely to close at the beginning of 2018.
Tim Cornelius, CEO of Atlantis, affirmed: “This bond offer represents a chance for ordinary investors to help Atlantis to grow and share in our future financial success. These bonds will help us achieve our ambition of becoming one of the largest and most diversified renewable energy companies on the London Stock Exchange.”
Article Source: http:http://www.energymarketprice.com/energy-news/italian-company-will-construct-a-solar-plant-in-iran
The accord inked with the Industrial Development and Renovation Organization of Iran (IDRO), sets a 15-month deadline to finalize the project.
Previously in August 2017, Carlo Maresca signed a legal act to build a 10-MW solar power plant in Iran’s Qeshm Free Trade Zone, a project whose first phase launched last week. With the prior deal, the company became the first Italian firm to fund photovoltaic projects in Iran.
IDRO is a governmental structure that backs industrial projects and innovation in Iran. Since the lifting of sanctions in January 2016, it has inked co-operation agreements with firms like Wärtsilä and HOT Engineering.
China to begin the construction of up to eight reactors in 2018
According to a plan released by the country’s National Energy Administration (NEA), China will encourage the development of nuclear power this year. Five new nuclear power reactors are planned to become operational in 2018 and construction works will commence with further six to eight units.
In its Energy Work Guidance Opinion for 2018, the NEA affirmed that China’s installed nuclear generating capacity would be enhanced by 6 GWe overall this year with the start-up of the Sanmen 1 and Haiyang 1 AP1000s, the Taishan 1 EPR, the Tianwan 3 VVER-1000 and the Yangjiang 5 ACPR1000.
The plan also expects China to continue the implementation of important nuclear science and technology projects, build a sharing system for experimental platforms for nuclear power technology and equipment, hasten the establishment of major projects for small-scale reactors and actively support the comprehensive utilization of nuclear energy.
Under the latest Five-Year Plan, published in March 2016, China should have some 58 GWe of nuclear production capacity functional by 2020, up from the current capacity of almost 35 GWe. Additionally, a further 30 GWe of nuclear capacity will be under construction by 2020.
Article Source: http://www.energymarketprice.com/energy-news/china-to-begin-the-construction-of-up-to-eight-reactors-in-2018
Vattenfall creates a joint group for French wind project
Swedish state-owned company Vattenfall has created an alliance to bid in an offshore wind tender held in France.
It formed the group together with the French financial institution Caisse des Dépôts and German wind developer WPD.
The Eliade wind project located in Dunkerque will have a capacity of 250MW to 750MW – Vattenfall was chosen in a prequalification stage held in May 2017.
The selection process will be based on three criteria: price, the optimization of the wind power zone and how environmentally friendly the offer is.
Article Source: http://www.energymarketprice.com/energy-news/vallenfall-creates-a-joint-group-for-french-wind-project