The Briefing on Power
The latest news, trends and data from the power industry
In Data:
power in numbers
4.65TWh
The latest Digest of UK Energy Statistics revealed that solar generation in the three months to June 2018 stood at 4.65TWh, a new record for solar in the UK, and contributed towards total renewable generation of 24.3TWh.
$200bn
Saudi Arabia and its funding partner Softbank have shelved plans for the world’s biggest solar power project to date, which was expected to cost $200bn. It was part of the kingdom’s economic transformation plan and would have produced three times its energy needs.
255
The Khyber Pakthunkhwa Government has completed 255 mini macro hydropower projects in Pakistan, with work on 67 further projects underway in the province to provide cheap electricity to residents, as part of the vision of Prime Minister Imran Khan.
640ft
The Walney Extension wind farm in the Irish Sea is the world’s biggest wind farm to date, with a generating capacity of 659MW from 87 turbines that stand up to 640ft tall. The project is bigger than San Francisco and powers more than half a million homes.
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1/3
South Korea generates about one-third of its energy needs from 24 nuclear reactors, the sixth-largest such fleet in the world. Nuclear power has been an important energy source for the country, which has the highest per capita electricity demand in Asia.
in the news:
top projects kicking off this month
Innogy inaugurates Galloper offshore wind farm
German energy group Innogy has officially inaugurated the 353MW Galloper offshore wind farm, located 27km off the UK’s Suffolk coast. Built with an investment of £1.5bn, the wind farm is expected to generate enough green power to meet the annual electricity needs of more than 380,000 UK households. Galloper has an expected operational lifetime of more than 20 years and will contribute towards the decarbonisation of the UK’s energy supply.
Construction of Siemens Gamesa’s ETES facility nears completion
Siemens Gamesa Renewable Energy (SGRE) has revealed that its electric thermal energy storage (ETES) facility has entered the final phase of construction. Located in Hamburg-Altenwerder, the new storage system will have the capacity to store 30MWh of energy, enough to meet the daily energy requirements of 1,500 German households. The company claims the facility has the potential to reduce the construction and operating costs of larger storage capacities.
Conti Solar to build largest solar project in Rhode Island, US
Conti Solar has been contracted to provide full turnkey EPC services for the Gold Meadow Farms solar project in Rhode Island, US. Developed by Southern Sky Renewable Energy, Gold Meadow Farms solar project is spread across 100 acres and will be equipped with nearly 53,000 solar panels and 130 string inverters. The 21.3MW solar project will have the capacity to generate clean solar energy for the City of Providence, while reducing energy costs.
Mergers and acquisitions:
this month’s top power deals
Marguerite to acquire 42MW wind farm
European infrastructure fund Marguerite has signed an agreement to acquire a Swedish 42MW wind turbine onshore wind farm from renewable energy projects developer OX2. OX2 will be building the Brännliden wind farm in Brännliden, Skellefteå municipality under an EPC contract. Financial deals of the transaction have not been disclosed by either company.
Capital Dynamics to acquire Springbok solar project
US-based independent solar power developer 8minutenergy Renewables has entered a definitive agreement to sell the equity interests of the 121MW-dc Springbok 3 solar farm to independent global private asset management firm Capital Dynamics. Located in Kern County, California, Springbok 3 solar farm is the third installation in the Springbok cluster that supplies clean energy to more than 152,000 households in Los Angeles.
Dominion sells interests in three electric generation assets
Dominion Energy has agreed to sell interests in three merchant electric generation assets for a total of $1.32bn, in two separate transactions. US-based private investment firm Starwood Energy Group Global has agreed to acquire 100% interest in two combined-cycle gas turbine plants totalling 1,708MW from Dominion, one located in Pennsylvania and the other in Rhode Island.
Ørsted to sell 50% stake in Hornsea 1 offshore wind farm
Danish power company Ørsted has agreed to sell 50% of its stake in Hornsea 1 offshore wind farm to US-based investment fund Global Infrastructure Partners in a $5.8bn deal. As per the agreement, Ørsted will construct the wind farm under a full-scope EPC contract. Hornsea 1 is currently under construction and will become the world’s largest offshore wind farm when commissioned in 2020.
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