The Briefing on Power
The latest news, trends and data from the power industry
In Data:
power in numbers
$170bn
The global wind energy market is expected to exceed $170bn by 2024, reaching an annual installation of more than 90GW. Of this total installed capacity, 13GW will be in offshore wind projects.
£20m
The UK has pledged to spend an additional £20m on carbon capture, usage and storage (CCUS) under its Clean Growth Action Plan. This will include the construction of the fist CCUS emissions storage facility in country.
54%
New research from Inmarsat has found that over half of energy organisations aim to reduce their environmental footprint through the use of the Industrial Internet of Things, to improve resource efficiency and monitor environmental conditions.
90 min.
Arsenal football club has unveiled a new battery storage system that can save enough energy to power the 60,000 capacity Emirates stadium for an entire 90 minute match, the equivalent of running 2,700 households for two hours.
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3x
The French Government has pledged to increase its renewables budget to €71bn from 2019 to 2028, and plans to triple onshore wind power capacity by 2030. The amount of energy produced from solar photovoltaic will increase fivefold.
in the news:
top projects kicking off this month
Neoen begins Coleambally solar farm operations
French independent renewable energy producer Neoen has started full-scale commercial operations at its Coleambally solar farm in New South Wales, Australia. The photovoltaic facility has the highest energy output capacity in comparison to existing solar farms in the country. It can power more than 65,000 homes in the New South Wales region.
Siemens begins construction of Bolivia service and training centre
Technology company Siemens has started construction works for its new Bolivia energy service and training centre, as part of a commitment to support efforts for improving electricity access in the country. The centre will provide Siemens’ specialised high-tech traditional and digital services to energy customers in Bolivia and South America.
Construction begins on Saudi Arabian solar project
Saudi Arabia’s King Salman bin Abdulaziz has marked the start of construction on the 300MW Sakaka solar photovoltaic IPP project, with a ground-breaking ceremony in Al Jouf. The project is said to be the first renewable energy project being built under King Salman’s renewable energy initiative. The plant is expected to begin commercial operations in 2019.
Mergers and acquisitions:
this month’s top power deals
LS Power to acquire CPower
US independent power company LS Power has signed a definitive agreement to purchase US energy management firm Enerwise Global Technologies (CPower) from HIG Capital for a private fund it manages. CPower provides demand response and distributed energy resources in North America. Financial details have not been disclosed.
Ontario Power finalises Eagle Creek acquisition
Ontario Power Generation has finalised a $224m deal to acquire US-based operator of small hydropower facilities, Eagle Creek Renewable Energy. Eagle Creek operates 63 small hydropower facilities with 216MW of in-service capacity. The hydropower plants are located in 13 states in the US, mostly in New England and New York.
Atlantis Energy to acquire SIMEC GHR for $160m
SIMEC Atlantis Energy has agreed to conditionally acquire SIMEC Green Highland Renewables (GHR) for $160m. The acquisition is expected to further enhance Atlantis' sustainable energy assets and transform it into a diversified energy company. SIMEC GHR’s portfolio has a total capacity of 20MW, producing 87GWh per annum.
NextEra Energy to acquire TBC for nearly $1bn
NextEra Energy Transmission has agreed to purchase Trans Bay Cable (TBC) for $1bn. TBC is a high-voltage direct current submarine cable system that runs under the San Francisco Bay. It transfers existing energy from Pittsburgh to San Francisco and supplies nearly 40% of electricity used by San Francisco and the surrounding areas.
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