Utilities in Europe and North America “have to change their business model, whether they like it or not”, says the International Energy Agency (IEA). At the same time, the IEA is very critical about the plans of several European countries to set up capacity schemes which the large European enegy companies are pleading for. “We should try energy-only solutions first before we try capacity schemes”, says Maria van der Hoeven, Executive Director of … [Read more...]
Archives for August 2014
Global renewable energy at the cross-roads
Is the renewables glass half-full or half-empty? That’s the central question that appears to run through the International Energy Agency (IEA’s) new comprehensive market report on the state of renewable energy in the world. The answer is complex. Renewables have made “tremendous progress”, notes the IEA, but growth “falls short of global climate change objectives”. Karel Beckman reports. … [Read more...]
UK Power Reserve adds three more plants to portfolio
UK Power Reserve (UKPR) announces the acquisition of a 30MW portfolio of gas-fired power stations from Scottish Power (SP). The acquisition brings the company's portfolio to 13 plants situated across England and Wales. The three SP power stations are Watson Street, Greengate and Cowley Hill and are located in Merseyside. Each site comprises three embedded packages totaling 10MW of generating capacity. UKPR will manage the operation and … [Read more...]
US Energy Information Administration: Energy reform could increase Mexico’s long-term oil production by 75%
On August 11, Mexico's president signed into law legislation that will open its oil and natural gas markets to foreign direct investment, effectively ending the 75-year-old monopoly of state-owned PetrĂłleos Mexicanos (Pemex). These laws, which follow previously adopted changes in Mexico's constitution to eliminate provisions that prohibited direct foreign investment in that nation's oil and natural gas sector, are likely to have major … [Read more...]
Why Ukraine’s dependence on Russia in nuclear is worse than in gas – and what to do about it
While discussions around Ukrainian energy dependence on Russia usually focus on gas, the Ukrainian nuclear sector is even more dominated by Russia. And more strategic: it supplies half of the country’s electricity. And whereas Ukraine wants to use less gas, the government intends to expand the country’s nuclear power production significantly. The good news for Ukraine is that it has plenty of its own uranium. With Western support the country … [Read more...]
Professor Henrik Lund: Denmark proves complete fossil fuel independence is possible
Complete independence from energy generated from fossil fuels is possible. Professor Henrik Lund, of Aalborg University, believes that a system based 100 per cent on renewable energy is a viable option and could be achieved by 2050 in Denmark. Renewable energy systems (RES) planning can also be successfully applied to other countries worldwide. During his extremely well attended plenary lecture at CHISA, the 21st International Congress of … [Read more...]
MeyGen tidal energy project in Scotland gets another boost
Atlantis, owner of the world’s largest planned tidal stream energy project, MeyGen, has been awarded a ÂŁ7.5 million two year contract with the UK’s Energy Technologies Institute (ETI) to deliver a multi-turbine foundation structure which will support a further two turbines at the Atlantis-owned MeyGen tidal stream array in the Pentland Firth, Scotland. The agreement with ETI marks the start of Phase 2 of the ETI Tidal Energy Converter … [Read more...]
Let’s start a European tidal lagoon industry
A unique, ÂŁ1 billion plan to build the world’s first tidal lagoon in Swansea Bay in Wales has won strong local support. Stephen Tindale, associate fellow at the Centre for European Reform in the UK, who is involved in the project, argues that the EU should support it  and help create a new European tidal lagoon industry. … [Read more...]
UBS and Citigroup expect massive solar-EV revolution
Analysts from UBS and Citigroup, two of the world’s largest investment banks, believe the growth of solar power, in combination with advances in batteries and electric cars, will cause a huge disruption in the energy industry. UBS believes centralised fossil fuel generation  will become “extinct” sooner than most people realise. Citigroup predicts renewables will replace coal and gas in power generation, which will free up the use of gas as a … [Read more...]
France announces $13.4 billion energy plan
Tax credits and low-interest loans will be used to generate about €10 billion ($13.4 billion) for a new energy plan in France. About half the money will be loaned by Caisse des Depots et Consignations, a government-owned lender, and some will also come from non-state banks. French President Francois Hollande wants France to reduce its reliance on atomic power from 75% to 50% by 2025. Such an investment is necessary to help with … [Read more...]
New report Carbon Tracker: Top 20 high-cost oil projects risk wasting $91 bln of investor cash
The Carbon Tracker Initiative (CTI) has come out with a new report highlighting some of the world’s most expensive future oil projects, which the biggest publicly listed oil companies are considering for development. Some of these projects require prices far exceeding today’s levels, and risk wasting $91 billion of investor cash over the next decade if taken into production. The projects are suggested as prime candidates for … [Read more...]
SkyNRG, Boeing and South African Airways aim to turn tobacco into sustainable jet fuelÂ
SkyNRG announces its first major feedstock project in South Africa based on the Solaris technology. Solaris is a nicotine-free energy tobacco crop that has been developed by the Italian company Sunchem. SkyNRG and Sunchem SA have teamed up to roll out Solaris in Southern Africa at large scale to help power local sustainable jet fuel production. Both South African Airways (SAA) and Boeing will provide active support in securing further project … [Read more...]
The saga of Hinkley Point C: Europe’s key nuclear decision
Will EDF with Chinese backing build a new third-generation nuclear power plant in the U.K., and if so under what conditions? The answer to this question will be vital to the future of the European energy sector. And a great deal will depend on the European Commission, which is expected to decide any moment whether the U.K.’s agreement with EDF will be allowed under EU State Aid rules. In the World Nuclear  Industry Status Report 2014, an annual … [Read more...]
Wishful thinking about natural gas: why fossil fuels can’t solve the problems created by fossil fuels
Natural gas is touted as a great success story in the US, not just by industry but also by the Obama administration and even by many environmentalists. The gas boom is supposed to have led to lower greenhouse gas emissions and to help pave the way to a greener future. But according to Harvard historian of science Naomi Oreskes, this is wishful thinking. There is no evidence that higher gas use has led to lower emissions and there is every reason … [Read more...]
Do we need capacity markets? Do we need Russia?
There are two major issues on which the future of the energy sector hangs, notes EP editor Karel Beckman: 1) Â how far will the renewables revolution go in combination with climate policy; 2) how will growing geopolitical tensions, especially relations with Russia, affect markets? Karel asks whether we need capacity schemes, indicates how utilities could get back on a growth path and how (not) to deal with Russia. … [Read more...]