The power industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
The Government of Portugal has increased the target of its first offshore wind power auction to 10GW with an aim to expedite the energy transition
Amazon has decided to expand its renewable energy portfolio by adding 2.7GW of capacity across 71 new renewable projects worldwide
Vestas has been selected as the preferred turbine supplier for Baltic Power, a 1.2GW offshore wind project in Poland
Niam, via its Niam Infra Fund, has partnered with solar developer Solkompaniet to develop a 500MW solar portfolio in southern Sweden
Enfinity Global has reached a definitive agreement with Capital Dynamics to acquire a 400MW utility-scale solar project portfolio in the US
Russian state-owned nuclear firm Rosatom has signed a wind project development agreement with the Government of Dagestan via its wind power division, NovaWind.
The two parties have agreed to develop wind power projects with up to 315MW of capacity in Dagestan, in addition to renewable energy sources. The renewable energy projects are expected to reduce power shortages and create jobs in the region, as well as increase regional tax revenues.
UK-based offshore energy firm Aquaterra Energy has partnered with Seawind Ocean Technology to develop HyMed, a floating wind and green hydrogen project offshore from Italy.
The project is expected to generate 3.2GW of electricity by 2027, more than 1GW of which will be green hydrogen. It is currently in its first phase of permitting, with grid connection and environmental impact assessments also underway.
The Abu Dhabi National Energy Company and the Abu Dhabi National Oil Company have reached financial close for a high-voltage direct current subsea transmission network project.
The $3.8bn project will be located in the Middle East and North Africa region. It will be developed jointly by a consortium of Korea Electric Power, Kyushu Electric Power Company and Électricité de France.
UK-based renewable energy firm Harmony Energy has received a permit from New Zealand’s Environmental Protection Authority to build the country’s largest solar farm.
The proposed 147MW solar facility is planned in the Waikato region, covering 182ha of a 260ha site at Te Aroha West, 140km south of Auckland. Harmony Energy director Pete Grogan said: “We are thrilled this important renewable development can now proceed.”
Germany nationalises Uniper to prevent bankruptcy
The German Government has reached an agreement to nationalise power generator Uniper to prevent the company’s collapse.
The German state will increase its holding to 98.5% of the company, at a price of $1.68 (€1.70) per share. The deal will also see $7.9bn (€8bn) of government money invested in Uniper. Of Uniper’s holdings, $3.9bn (€4bn) will repay a loan from parent company Fortum, headquartered in Finland.
State-owned bank KfW will provide bridge financing for the deal, which the parties expect to complete before the end of 2022.
Read more: Power Technology