Tags Posts tagged with "renewable energy"

renewable energy

Amazon has announced four new renewable energy projects in Australia, Spain, Sweden, and the US that further support Amazon’s commitment to reach 80% renewable energy by 2024 and 100% renewable energy by 2030 on path to net zero carbon by 2040.

Amazon is investing globally to enable new renewable energy projects as the company works towards net zero carbon by 2040. Amazon’s first renewable energy project in Australia is a 60 MW solar project anticipated to come online in 2021 in northern New South Wales. Once complete, the project is expected to generate 142,000 MWh of clean energy annually, which is equivalent to the annual electricity of almost 23,000 average Australian households.

Amazon’s newest renewable energy projects in Europe include 122 MW from an onshore wind project in Västernorrland, Sweden, expected to come online 2022, and a new 50 MW solar farm in Zaragoza, Spain, expected to begin operations in 2021. Once enabled, these projects have the capacity to power the equivalent of 158,000 average European homes each year.

Amazon’s newest solar project in the US will be located in Halifax County, Virginia. The 65 MW solar project is expected to generate over 150,000 MWh of renewable energy annually and will be Amazon’s 11th renewable energy project in the Commonwealth of Virginia. Separately, Amazon also recently announced a new solar project in Pittsylvania County that will power Amazon’s new HQ2 headquarters along with other Amazon-owned operations across the Commonwealth, including Whole Foods Markets and fulfillment centers.

Once complete, the four new Amazon renewable energy wind and solar projects will provide almost 300 MW and approximately 840,000 MWh of additional renewable capacity to the grids that supply energy to the company’s AWS data centers, which power Amazon and millions of AWS customers globally.

To date, Amazon has launched 26 utility-scale wind and solar renewable energy projects with over 2,200 MW of renewable capacity, that will deliver more than 6.2 million MWh of clean energy annually – enough to power 560,000 U.S. homes. Amazon has also installed more than 50 solar rooftops on fulfillment centers and sort centers around the globe that generate 122 MW of renewable capacity and deliver 193,000 MWh of clean energy annually.

Source: Amazon

LONGi, a world’s leading solar technology company, has announced that it has officially joined the global RE100 initiative led by The Climate Group in partnership with CDP. LONGi commits to sourcing 100% renewable electricity across its entire global operations by 2028 with an interim target of 70% by 2027.

The global RE100 initiative aims to unite Global Fortune 500 companies such as Apple, Google, Facebook, Coca-Cola, Microsoft, Philips and Goldman Sachs, to the committed goal of 100% renewable energy in the shortest possible timeframe. In order to achieve this climate goal, each company in the RE100 will commit to source 100% of the electricity used across their global operations from renewable energy.

In joining the RE100 initiative, LONGi assumes greater responsibility for the global development of the low-carbon economy and achievement of climate goals.

From 2006 to present, LONGi’s energy strategy is divided into three major stages:

  • Stage 1: 2006-2015, using traditional energy to produce clean energy.
  • Stage 2: 2016-present, using clean energy to produce clean energy.
    LONGi manufactures photovoltaic products in China’s Yunnan and Malaysia’s Kuching – regions that are rich in hydropower. The finished products are exported to customers in all parts of the world, becoming “amplifiers and porters of clean energy”.
  • Stage 3: In the future, LONGi will realize its “Solar for Solar” concept of manufacturing clean energy products using 100% clean energy and achieve a negative carbon earth.

In recent years, LONGi has installed solar photovoltaic systems on the rooftops of its production facilities to promote the use of clean energy. At the same time, LONGi also actively developed solar photovoltaic power stations with more than 2 GW of ground power stations and 1.5 GW of commercial & industrial power stations cumulatively. LONGi is one of the first photovoltaic enterprises to purchase “Green Electricity Certificates” and has been listed in the list of green manufacturing enterprises by the Ministry of Industry and Information Technology of the People’s Republic of China many times.

Helen Clarkson, CEO of The Climate Group said, “LONGi is a world leading solar technology company. The Climate Group and LONGi are fully aligned in the concept of sustainable development. We hope to work with LONGi to jointly promote the rapid development of global renewable energy.

Li Zhenguo, Founder and President of LONGi commented, “Joining the global RE100 initiative is LONGi’s commitment to the sustainable future of the world. We will take concrete steps to ensure that our commitments are achieved. LONGi is willing to work with global partners to drive the global energy transformation, and we firmly believe that the goal of 100% renewable energy worldwide by 2050 can be achieved, even possibly sooner.

Source: LONGi

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Elecnor, has been awarded a contract for 86 million euros to build a green combined heat and power (CHP) plant in the Belgian city of Ghent. This is the first contract the company has won in Belgium.

The plant is promoted by the Gentse Warmte Centrale (GWC), a society set up for this project by Belgian Eco Energy (BEE)—a Belgian energy company specialised in the production and supply of locally generated renewable energy—and the British fund manager Equitix.

The plant will have an electrical generation capacity of 19.9 MW by burning locally sources non-recyclable demolition wood. The facility will be located in a former coal terminal in the port of Ghent (North Sea Port), one of the most dynamic in the country. In addition, the project includes the production of steam to service a nearby industrial company.

During the implementation of this project, Elecnor will carry out all the geotechnical and topographical studies required, as well as the engineering work. In addition, the contract includes all construction work, such as demolition, earthmoving, piling and building, together with electrical and mechanical assembly.

The works on the CHP plant in Ghent, which are expected to take about 2 years, will have a significant economic impact on the city, as it will lead to the creation of up to 300 temporary jobs and about 35 permanent jobs. This contract joins the portfolio of biomass projects that Elecnor has undertaken in recent years, including the Viseu and Fundao facilities in Portugal.

Source: Elecnor

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    PV

    Founded in 2005, Guangzhou Sanjing Electric Co., Ltd (SAJ) is one of the largest global inverter specialists for renewable energy conversion, transmission and storage. It supplies grid connection inverters (0.7–60 kW), hybrid inverters, retrofit kits and monitoring platforms. In 2017, the company enjoyed a 24% market share of China’s residential PV market and was ranked among the Top 10 global manufacturers of residential solar inverters by IHS. In 2019, SAJ achieved 25% of the market share for residential storage inverters in the Australian PV market. Its latest product range, the R5 Series rooftop grid connection solar inverter, won the TÜV Rheinland “All Quality Matters” Award for the PV Inverter for Home Use Category in 2019. SAJ has now launched this product range in Spain to respond to the different needs of the solar market.

    Wärtsilä has completed the delivery of an island grid energy solution on Graciosa in the Azores. The order for Graciólica, announced in January 2018, was placed by Portuguese project company Graciolica Lda and supported by its majority shareholder, Denmark based Recharge A/S. The inauguration of the Graciosa Hybrid Renewable Power Plant took place on Graciosa on 20 February 2020. The purpose of the island grid is to reduce diesel fuel consumption and maximise renewable energy for the over 4,000 island inhabitants. The use of renewables will be increased from 15% to 65% with Wärtsilä’s new technology solution.

    Energy storage is needed to overcome the intermittency of renewable sources, manage the frequency and quality of the supplied power, and provide backup energy to meet spikes in demand. The power plant includes an energy storage system that enables a more resilient and sustainable power system as critical grid asset.

    The entire island’s energy management is monitored, integrated and optimised by Wärtsilä’s GEMS, an advanced energy management software system. GEMS software uses artificial intelligence and machine learning technology to optimise multiple energy generation assets based on load patterns and weather forecasting. GEMS’s computing technology and logic also accommodates the island’s renewable intermittent sources such as solar and wind. Particularly unique to the project is that GEMS does both individual asset control as well as system balancing to maximise renewable energy penetration, something traditionally carried out by system operators. GEMS has allowed the island system to perform at its best while decreasing the cost of diesel power generation. Wärtsilä will also provide software maintenance services under a five-year agreement.

    Demonstrating the potential of energy storage on islands

    Island grids present a unique set of challenges, particularly the heavy dependence on liquid fuel imports, coupled with a growing concern for climate change and need for reliable energy to provide critical power needs. Energy storage is a sustainable alternative. Wärtsilä’s island grid solution enables maximum renewable penetration, lowers reliance on imported liquid fuels and significantly reduces greenhouse gas emissions. The Graciosa Hybrid Renewable Power Plant has the potential to eliminate approximately 190,000 liters of diesel fuel per month.

    Source: Wärtsilä

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    By adding an estimated 4.7 GW in 2019, Spain returns to the continent’s top solar markets and is the clear market leader in Europe. The forecasts for the future development remain promising. According to SolarPower Europe’s “European Market Outlook 2019-2023” published in December 2019, Spain is expected to have a compound annual growth rate of 34% by 2023 in the medium scenario. A total installed solar PV capacity of 25.6 GW will then be reached. What role corporate sourcing of renewables and PPAs (Power Purchase Agreements) will play in this process and what obstacles still have to be overcome will be discussed on May 19, 2020 at Intersolar Summit Spain in Barcelona. After a successful start in 2019, Intersolar Summit Spain is taking place for the second time and will welcome more than 250 attendees.

    In the first decade of this century, Spain was already one of the leaders in solar energy. In 2008, Spain installed 3.1 GW due to attractive FiTs (Feed-in tariffs). As a result, solar energy grew strongly, but not sustainably. In the course of the 2008 financial crisis, the Spanish government drastically reduced subsidies for solar power in Spain and cut future additional capacity to 500 MW per year. These decisions led to a stagnation of new installations in the following years. Only with the new government in 2018, solar energy was given more importance again and, among other things, the controversial solar tax was abolished.

    At the beginning of 2019, the Spanish government approved the submission of the draft Integrated National Energy and Climate Plan 2021-2030 (NECP/ PNIEC). It defines caps on national greenhouse gas emissions, taking into account renewable energy and energy efficiency measures. The main goals are, to reduce greenhouse gas emissions by 21% with respect to 1990, to achieve 42% renewable energy in the country’s final energy use, and to achieve 74% renewable energy in electricity generation by 2030. To realize the target in the electricity sector, the PNIEC foresees a total installed capacity of 37 GW of solar PV by 2030. In comparison, SolarPower Europe forecasts in their European Market Outlook a total installed capacity of 25.6 GW as early as 2023 in their medium scenario.

    According to the PNIEC, auctions and PPAs will play a major role in achieving the 2030 targets. Nevertheless, it is important to keep the possible barriers in mind. According to SolarPower Europe these are mainly the issues financing, network injection capacity and administrative procedures.

    Intersolar Summit Spain, taking place on May 19, 2020, will have a deep look into the developments of the Spanish solar market, chances and risks, the role of Corporate Sourcing/ PPAs, and the topic of self-consumption. With the recently approved bills (Royal Decree-Law 15/2018 and Royal Decree 244/2019), the latter has becoming more attractive again as the current regulatory framework includes the right to self-consumption without charges, the simplification of administration, and remuneration of excess power. The European Market Outlook forecasts 300-400 MW of PV self-consumption per year in Spain due to this regulation.

    SolarPower Europe and the Spanish solar energy association UNEF are strategic partners of Intersolar Summit Spain.

    Source: SolarPower Europe

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    Grupo T-Solar, a leading Spanish independent renewable power producer, asset manager and a portfolio company of I Squared Capital, has completed one of the largest financings of the renewable energy market worth €567.8 million, including a €34 million senior secured class A1 bonds, €234.1 million senior secured class A2 bonds both due June 2038 and a 10-year €299.7 million bank loan.

    The proceeds will be used to refinance 23 photovoltaic solar projects with a combined installed capacity of 127 MW across Spain owned by T-Solar Global Operating Assets, an affiliate of Grupo T-Solar. The assets operate under the Spanish regulatory framework with a regulated return granted for 30 years.

    This is Grupo T-Solar’s first financing to obtain a Green Evaluation by Standard and Poor’s, achieving a very strong E1/80 score—the highest granted by the agency—due to the transaction’s robust environmental impact mitigation, governance and transparency.

    Grupo T-Solar’s Chief Executive Officer, Marta Martinez, commented on the market response: “We have seen very strong interest in our first green financing among leading banks and institutional investors. This transaction enables investors that share our vision of a more sustainable future to partner with T-Solar in reducing carbon emissions for future generations.

    Deutsche Bank and Banco Santander acted as Mandated Lead Arrangers and Global Coordinators of the issuance.

    Grupo T-Solar is a leading independent renewable power producer and asset manager that owns 336 megawatts of installed capacity and operates 51 renewable power plants in Spain, Italy, Peru and India that generated over 602 gigawatt-hours of clean electricity in 2019 and avoided over 216,000 tons of CO2 emissions.

    The company has a strong track record in the development and construction of solar farms. Following acquisition by global infrastructure investment manager I Squared Capital in 2017, Grupo T-Solar is focusing on the European market with 92 percent of its assets in Spain and Italy. Including recent divestments in Japan and the U.S., the company has managed over €1.9 billion in environmentally friendly and regulated assets.

    Source: Grupo T-Solar

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    The share of renewables in global power should more than double by 2030 to advance the global energy transformation, achieve sustainable development goals and a pathway to climate safety, according to the International Renewable Energy Agency (IRENA). Renewable electricity should supply 57 per cent of global power by the end of the decade, up from 26 per cent today.

    A new booklet 10 Years: Progress to Action, published for the 10th annual Assembly of IRENA, charts recent global advances and outlines the measures still needed to scale up renewables. The Agency’s data shows that annual renewable energy investment needs to double from around USD 330 billion today, to close to USD 750 billion to deploy renewable energy at the speed required. Much of the needed investment can be met by redirecting planned fossil fuel investment. Close to USD 10 trillion of non-renewables related energy investments are planned to 2030, risking stranded assets and increasing the likelihood of exceeding the world’s 1.5 degree carbon budget this decade.

    Additional investments bring significant external cost savings, including minimising significant losses caused by climate change as a result of inaction. Savings could amount to between USD 1.6 trillion and USD 3.7 trillion annually by 2030, three to seven times higher than investment costs for the energy transformation.

    Falling technology costs continue to strengthen the case for renewable energy. IRENA points out that solar PV costs have fallen by almost 90 per cent over the last 10 years and onshore wind turbine prices have fallen by up half in that period. By the end of this decade, solar PV and wind costs may consistently outcompete traditional energy. The two technologies could cover over a third of global power needs.

    Renewables can become a vital tool in closing the energy access gap, a key sustainable development goal. Off-grid renewables have emerged as a key solution to expand energy access and now deliver access to around 150 million people. IRENA data shows that 60 per cent of new electricity access can be met by renewables in the next decade with stand-alone and mini-grid systems providing the means for almost half of new access.

    Source: IRENA

    Countries are being urged to significantly raise renewable energy ambition and adopt targets to transform the global energy system in the next round of Nationally Determined Contributions (NDCs), according to a new report by the International Renewable Energy Agency (IRENA) that will be released at the UN Climate Change Conference (COP25) in Madrid. The report will show that renewable energy ambition within NDCs would have to more than double by 2030 to put the world in line with the Paris Agreement goals, cost-effectively reaching 7.7 terawatts (TW) of globally installed capacity by then. Today’s renewable energy pledges under the NDCs are falling short of this, targeting only 3.2 TW.

    The report NDCs in 2020: Advancing Renewables in the Power Sector and Beyond will be released at IRENA’s official side event on enhancing NDCs and raising ambition on 11 December 2019. It will state that with over 2.3 TW installed renewable capacity today, almost half of the additional renewable energy capacity foreseen by current NDCs has already been installed. The analysis will also highlight that delivering on increased renewable energy ambition can be achieved in a cost-effective way and with considerable socio-economic benefits across the world.

    Increasing renewable energy targets is absolutly necessary,” said IRENA’s Director-General Francesco La Camera. “Much more is possible. There is a decisive opportunity for policy makers to step up climate action by raising ambition on renewables, which are the only immediate solution to meet rising energy demand whilst decarbonizing the economy and building resilience”.

    IRENA’s analysis shows that a pathway to a decarbonised economy is technologically possible and socially and economically beneficial,” continued Mr. La Camera. “Renewables are good for growth, good for job creation and deliver significant welfare benefits. With renewables, we can also expand energy access and help eradicate energy poverty in line with the UN Sustainable Development Agenda 2030. IRENA will promote knowledge exchange, strengthen partnerships and work with all stakeholders to catalyse action on the ground. We are engaging with countries and regions worldwide to facilitate renewable energy projects and raise their ambitions”.

    NDCs must become a driving force for an accelerated global energy transformation. The current pledges reflect neither the past decade’s rapid growth nor the ongoing market trends for renewables. Through a higher renewable energy ambition, NDCs could serve to advance multiple climate and development objectives.

    Source: IRENA

    Mix de generación de España en el escenario base. Fuente: BloombergNEF. Nota: El gráfico muestra una proyección para España peninsular (continental) y no incluye las islas españolas / Spain’s generation mix in the base scenario. Source: BloombergNEF. Note: The chart shows a projection for peninsular (mainland) Spain, and does not include Spanish islands

    Maximizing the role of solar and wind power in the electricity systems of Spain and Chile between now and 2050 will hinge on the extent to which flexibility assets such as batteries and dynamic electric vehicle chargers are deployed and used. That is the conclusion of twin reports, published by BloombergNEF (BNEF) in partnership with Acciona.

    Both Spain and Chile have world-class resources in sunshine and wind, and are therefore prime locations for the build-out of renewable energy over the next three decades. The BNEF reports model the outlook for the power generation mix of the two countries by 2050, based on various scenarios. Both Spain and Chile have ambitious targets for decarbonizing their electricity systems, the former for renewable generation, and the latter for the retirement of its entire coal-fired power station fleet. But attaining these, or getting close, will require a focus on flexibility, as well as simply pouring money into increasingly cheap renewables.

    Flexibility is provided by technologies that can rapidly increase or reduce the amount of electricity they deliver to the grid, depending on the balance between supply from generators and demand from businesses and consumers. Examples are stationary storage batteries, EV chargers that charge when electric prices are low rather than at peak periods, interconnectors to other countries, and – on the fossil fuel side – quick-response gas-fired power stations.

    Among the conclusions of the two reports are:

    • The base-case scenario for Spain shows wind and solar generating 51% of total electricity by 2030, and as much as 75% by 2050, thanks to the fact that they are the lowest-cost options in that country for generating power.
    • The base-case scenario for Chile shows wind and solar surging from supplying 13% of the country’s electricity now, to 40% by 2030, and 67% by 2050. The market is expected to be 93% supplied by all renewables in that year. In a coal phase-out scenario, the figure rises to 98%.
    • In Spain, in a scenario in which battery storage costs fall more rapidly than expected, the electricity system could need 13% less gas back-up capacity by 2050, have 12% fewer emissions, and accommodate up to 94% zero-carbon generation.
    • In Spain, in a scenario in which EVs are able to charge flexibly (to take advantage of hours of cheaper electricity), the added costs to the energy system of electrifying transport can be halved. It would also lead to 9% fewer emissions than in the base-case scenario.
    • An increase in interconnector capacity between Spain and France would enable the share of zero-carbon electricity to be increased relative to the base-case, and at slightly lower overall cost. However, the benefits are less obvious in the long-term as the interconnector utilization drops due to wind and solar over-generating more often in both countries simultaneously.
    • However, another scenario in which storage costs fail to come down as sharply as expected, would lead to 11% more emissions by 2050, and 3% higher system costs, than in the base case.
    • In Chile, wind and solar represent a $35 billion investment opportunity between now and 2050, and batteries an $8 billion opportunity.
    • In Chile, coal makes up 39% of electricity generation today and this is set to slide all the way to 6% in the base-case scenario, as it loses ground to cheaper wind and solar projects.
    • To cut coal-fired generation further, and minimize Chile’s emissions, would require deliberate government policy and 25% more investment in new generation than in the base case.

    Source: BNEF

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