The power industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
€1tn
The European Investment Bank has approved its Climate Bank Roadmap 2021-2025, aiming to invest €1tn in climate action projects before 2030.
19%
A report from Rethink Energy predicts that the US will jump from 11% of the global solar module market to 19% under President Biden.
27
Copenhagen Infrastructure Partners and Forestalia have agreed to invest in a portfolio of 27 onshore wind farms under development in Spain. The wind farms will have a total installed capacity of more than 1GW.
15
The City of London Corporation has signed a 15-year power purchase agreement with Voltalia to purchase all the clean energy generated by the 95,000-panel solar farm in Dorset.
2022
UK-based company EDF Energy has announced plans to close Hinkley Point B power station in Somerset no later than 15 July 2022.
Project updates
Solar projects developer ReneSola Power has entered a strategic partnership agreement with Innova to develop utility-scale projects in the UK.
Spanish renewables developer Iberdrola has signed a power purchase agreement with pharmaceutical company Bayer to supply 100% renewable electricity to nine Bayer sites in Spain.
UK-based energy companies SSE, ScottishPower, and National Grid have agreed to deliver Eastern Link, a renewable electric underwater super-highway from Scotland to north-east England.
Photovoltaic (PV) solar cells manufacturer Q CELLS has announced plans to build a 41MW floating PV power plant, which will be installed at the Hapcheon Dam in South Korea.
US-based steel products manufacturer Nucor has signed a virtual power purchase agreement with EDF Renewables North America for 250MWac of solar energy in Texas for 15 years.
Further reading
Balances and challenges: What impact will Biden’s victory have on the energy industry?
Despite ballots in Alaska and North Carolina still being counted, and Georgia’s two Senate seats awaiting the results of January runoff elections, Joe Biden has been pronounced the new US president-elect. While both parties are currently estimated to have 48 seats in the new Senate, we are yet to see whether one will take control.
With the election results announced, we round up the reactions from around the global energy industry to estimate the impact the new administration could have on renewable generation and decarbonisation.
Read more: Power-Technology
