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Power: Italy’s Enel is decommissioning one of its coal-fired power plants in Chile two years sooner than originally planned, with the unit’s closure coming two days after the Chile-based unit of a U.S. utility announced it would accelerate the closure of a pair of coal-fired power plants in the country. Enel on Dec. 31 is […]
Energy Storage News: AES Gener has held a virtual groundbreaking ceremony to mark the start of construction on a 112MW / 560MWh battery energy storage system project in Chile, Latin America. Multinational electric power generation and distribution company AES Corporation’s local subsidiary said the system, which can store power from nearby solar and wind facilities […]
Renewables Now: Santiago-based power company AES Gener SA submitted in Chile the environmental impact statement (EIS) for the 863-MW Parque Terra Energia Renovable wind-and-solar hybrid project. According to documents sent to the Chilean environmental evaluation service (SEA), the South American firm plans to invest USD 750 million (EUR 634.6m) in the project through its unit […]
Reuters: Chilean copper mines Escondida and Spence, controlled by BHP, will jointly pay $840 million for an early end to a contract signed in 2008 with a coal-fired thermoelectric plant in the north of the country. BHP, like other mining companies in Chile, has been migrating its energy contracts to renewable sources to reduce its […]
Power Technology: Spanish renewable energy and infrastructure company Elecnor has secured a contract to build a 185MW wind power facility in Chile. Backed by Mainstream Renewable Power, the Cerro Tigre wind farm will supply the national grid once operational. As per the terms of the contract, the company will install 44 wind turbines each with […]
S&P Global Market Intelligence ($): Italian utility Enel SpA will likely close its remaining coal-fired power stations around the world faster than anticipated, with worsening economics for the fuel leading to billions in write-downs and making an even stronger case to replace capacity with gas-fired plants and renewable energy. The company is still one of […]
ReNews.biz: Enel will exit Chile’s coal power sector early by bringing forward the closure of its Bocamina coal-fired power plant, located in Coronel. The company’s Chilean subsidiaries Enel Chile and Enel Generacion Chile informed the market that their boards of directors took the decisions to accelerate the closure of the power station. Enel Generacion Chile […]
As the economic impact of the coronavirus takes its toll, Australian thermal coal prices are now at their lowest level since 2016. This week the price for high energy Newcastle thermal coal dropped to US$50.60 a tonne, down around 25% already since January. Initially, COVID-19’s impact on energy prices has been focussed on oil. With […]
S&P Global Market Intelligence ($): Enel SpA recorded group net production of 53,928 GWh for the first quarter of 2020, representing a 13.0% decrease compared to 61,956 GWh in the same period in 2019. Notably, the group’s coal-fired production for the period plunged 79.0% year over year to 2,837 GWh from 13,535 GWh. Coal-fired generation […]
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IEEFA: Repurposing coal plants into solar and battery can pay up to 5 times more than decommissioning
An economic proposition for coal dominant developing countries
Worldwide, coal plants are grappling with environmental issues and low capacity utilization levels. They have not only become unprofitable to utilities, they are also uneconomical to customers. While retiring end-of-life coal plants can overall be very beneficial, and indeed necessary as finance continues to exit the fossil fuel sector driven by the global energy transition, […]