The Briefing on Power
The latest news, trends and data from the power industry
In Data:
power in numbers
£6bn
ScottishPower has announced that it will invest £6bn in UK energy by 2022, including £2bn this year. The announcement follows the sale of the company’s thermal generation business as part of its transition to 100% renewable energy.
9,600
German biogas plant manufacturer WELTEC Biopower has started construction of a biomethane plant in Yorkshire, UK. The plant will be operational later this year, providing enough biomethane to supply almost 10,000 homes with sustainable energy.
4%
General Electric has reported revenue growth of 4% in its renewable energy sector for the full-year 2018, but announced that profitability in renewables fell. The company’s revenue stood at $9.5bn for the year, of which the US was the biggest market.
4.2mw
Vestas has introduced its new V136-4.2MW Extreme Climate wind turbine, with reinforced blades and a strengthened hub. During testing, the company found the model was capable of withstanding winds speeds of up to 78 m/s.
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100GWh
Ørsted has signed a long-term offshore wind corporate PPA with Northumbrian Water, under which consumption sites in the northeast, Essex and Suffolk will receive nearly 100GWh per annum of renewable electricity from the offshore windfarm.
in the news:
top projects kicking off this month
Risen Energy begins works for 117MW solar facility in Mexico
China’s photovoltaic (PV) module producer Risen Energy has started construction on its latest 117MW solar project, located in the Durango region of Mexico. The facility is expected to supply over 269,000MWh or green electricity to Mexico every year. Risen Energy will serve as the EPC contractor, providing solar modules.
Acciona and Swicorp complete assembly of PV plants in Egypt
Acciona Energy and Swicorp’s renewable energy unit Enara Bahrain have completed the assembly of three photovoltaic (PV) plants in Egypt. With a maximum capacity of 186MWp (150MW), the PV plants will begin commercial operations over the next few weeks. The facilities will be built with an investment of approximately $180m.
Alinta Energy to build 214MW windfarm in Australia
Alinta Energy has awarded a contract to Danish renewable energy company Vestas to build a 214MW windfarm in Australia by mid-2020. Called Yandin Wind Farm, the facility will be built near the town of Dandaragan, 175km north of Perth. It will feature 51 4.2MW turbines that will be able to generate enough energy for up to 200,000 homes a year.
Mergers and acquisitions:
this month’s top power deals
EC approves RWE’s acquisition of E.ON and Innogy renewable assets
The European Commission (EC) has given approval for German electric utility firm RWE’s plan to acquire E.ON and Innogy’s renewable operations without any conditions. RWE files its intended acquisitions in January. The German Federal Cartel Office has also approved RWE’s acquisition of a 16.7% interest in E.ON.
Sempra Energy agrees to sell remaining US wind assets to AEP
US-based Sempra Energy has agreed to sell the remaining wind operating and development assets of its renewables subsidiary to American Electric Power for $551m in cash, subject to closing adjustments and working capital. The assets being sold under the agreement include the Black Oak Getty Wind project in Minnesota and the Apple Blossom Wind project in Michigan.
CenterPoint Energy and Vectren complete merger
CenterPoint Energy and Vectren have completed their merger to form a new company with an enterprise value of $27bn.
Headquartered in Houston, US the combined company is called CenterPoint Energy. It has regulated electric and natural gas utility businesses in eight states across the US, and assets totalling $29bn.
Sonnedix completes acquisition of Chilean PV portfolios
Sonnidex has completed the acquisition of two Chilean photovoltaic (PV) portfolios from Imelsa and Canadian Solar. The portfolios include PV projects ranging from 3MW to 9MW, which are being developed under the PMGD Programme in Chile. The Canadian Solar portfolio consists of two PMGD projects with a combined capacity of 18MW.
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