The Briefing on Power
The latest news, trends and data from the power industry
power in numbers
The global wind turbines market value is estimated to be $47.83bn in 2022, up from $44.75bn in 2017, largely driven by onshore deployment, according to GlobalData. Asia-Pacific is expected to lead the market value.
The US state of California has set an ambitious mandate to become powered by 100% renewable sources by 2045. The announcement has been welcomed by environmentalists, although there will be numerous hurdles to overcome to reach fully renewable energy.
In the UK, solar broke the record for weekly output between 21-28 June this year, producing 533 gigawatt hours of power. During this week, solar accounted for 27.8% of the country’s electricity mix.
In 2017, the average cost of nuclear energy in North America was $148 per megawatt hour (MWh). This compared to $102/MWh for coal, $60/MWh for gas, $50/MWh for solar, and $45/MWh for wind.
Just over 1% of the Sahara Desert would need to be covered in solar panels to gain enough energy to power the world per year. This area is equal to 43,000 square miles, and would provide more than 17.4TW of power.
in the news:
top projects kicking off this month
CMI opens industrial energy storage pilot plant
CMI Energy has opened an industrial energy storage facility called the Micro Réseau Intégré Seraing (MiRIS) in Belgium. The facility features renewable, as well as energy storage systems, and is integrated with a microgrid. The renewable section of MiRIS includes a 1.75GWh photovoltaic system with 6,500 rooftop and carport panels.
Iberdrola opens €1.4bn offshore wind farm in Germany
Spanish electric utility company Iberdrola has officially opened the 350MW Wikinger offshore wind farm in Germany. Built with an investment of more than €1.4bn, the new wind farm is located off the northeast coast of the German island of Rügen. The renewable energy generated by the farm is supplied to the German grid and will be sufficient to power 350,000 homes in the region.
Work begins on Japanese biomass power generation plant
Mitsubishi Corporation Power and Kansai Electric Power have initiated works to build a new 200MW biomass power generation plant in western Japan. The project is being executed through a joint venture between the two companies, and will see the conversion of Unit 2 of the Aioi Power Station in Hyogo Prefecture to use natural wood pellets as a fuel source.
Mergers and acquisitions:
this month’s top power deals
SolarEdge Technologies to acquire stake in Kokam
SolarEdge Technologies will acquire a 75% stake in Kokam for approximately $88m. SolarEdge will add battery storage to its product portfolio to help make solar installations smarter and more beneficial. South Korea-based Kokam provides lithium-ion battery cells, batteries and energy storage solutions.
Carlyle Group buys EnerMech Group for undisclosed sum
The Carlyle Group has acquired EnerMech Group from Lime Rock Partners for an undisclosed sum. The acquisition is in line with Carlyle Group’s plans to expand its global footprint and enter new markets. Scotland-based EnerMech is engaged in providing critical asset support to the energy, infrastructure and industrial sectors.
Oncor to acquire entire equity interest of InfraREIT
Oncor Electric Delivery Company, 80% of which is owned by Sempra Energy, has agreed to acquire the entire equity interest of InfraREIT for $1.275bn. The purchase will help Sempra to advance its growth plans and expand its Texas-regulated utility platform. Based in the US, InfraREIT is a real estate investment trust.
PKA takes stake in Canadian Solar’s PV projects
Danish pension service provider Pensionskassernes Administration (PKA) has agreed to acquire Canadian Solar’s 49% stake in the Garland and Tranquillity solar facilities for $304m. Investment in the two solar PV projects is reported to be the first for PKA. Located in California, the facilities together generate enough energy to power almost 100,000 homes.
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