The Briefing on Power
The latest news, trends and data from the power industry
power in numbers
By 2030, renewable capacity in Brazil is predicted to hit 61GW excluding small hydro, according to a recent report by GlobalData
After 200,000km, Tesla lithium ion batteries have been found to only degrade by 6%. Batteries are built to last at least 800,000km, and can then be replaced for $10,000
The capacity of each reactor used in the floating nuclear plant Russia's Rosatom is preparing to launch in the Arctic Ocean. The fleet includes two nuclear icebreakers with twin-reactor nuclear power plants and two with a single reactor
The number of Amazon's renewable projects around the world, which form part of the company's strategy to go 100% renewable
The IEA has predicted that by 2040, wind will be the world’s largest source of power, producing 1,100TWh
in the news:
top projects kicking off this month
Dominion Energy starts work on Coastal Virginia Offshore Wind project
US company Dominion Energy has started construction on the Coastal Virginia Offshore Wind project, the first wind power facility in US federal waters. Two 6MW turbines will be installed nearly 27 miles off Virginia Beach coast, creating enough energy to power 3,000 homes.
Enel Green Power begins construction of two new wind farms in US
Enel Green Power North America has commenced construction on two new wind farms in the US, the 66MW Whitney Hill plant located in Logan County, Illinois and 236.5MW White Cloud plant in Nodaway County, Missouri.
SSE Renewables opens £2.5bn Beatrice offshore wind farm in Scotland
SSE Renewables has officially opened the £2.5bn Beatrice offshore wind farm situated in the North Sea, 13km off the coast of Caithness in Scotland. Beatrice is Scotland’s largest offshore wind farm and features 84 turbines. It can generate 588MW clean electricity, enough to power nearly 450,000 homes in the region.
Mergers and acquisitions:
this month’s top power deals
value of M&A deals in the MENA region hits £112bn
In the Middle East and North Africa region, the value of mergers and acquisitions has hit $112bn for the first six months of 2019. Of this, energy and power sector deals accounted for some 80%. Financial data provider Refinitiv reported that this was largely driven by giant Saudi Aramco’s acquisition of 70% of Sabic for $69bn.
NextEra Energy Transmission completes acquisition of Trans Bay Cable
NextEra Energy Transmission has completed the acquisition of Trans Bay Cable from affiliates of Steelriver Infrastructure Fund North America. This follows the company entered definitive agreements with SteelRiver and partners in November 2018. NextEra noted that the transaction was valued at around $1bn, including the assumption of debt.
National Grid completes acquisition of Geronimo Energy in US
National Grid has completed the acquisition of US-based wind and solar projects developer Geronimo Energy through its competitive non-regulated unit National Grid Ventures for $100m. Established in 2004, Geronimo Energy has developed more than 2,200MW of wind and solar energy projects. It also has a pipeline of projects that are in various stages of development across the US.
EBRD acquires stake in renewable energy producer Voltalia
The European Bank for Reconstruction and Development (EBRD) has invested €23m in French renewable energy producer Voltalia. As part of this investment, the EBRD has acquired a 2.8% stake in Voltalia. The investment is expected to help Voltalia expand its operations to countries where the EBRD invests.
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