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S&P Global Market Intelligence ($): Norwegian electrolyzer-maker Nel ASA wants to reduce the cost of green hydrogen, produced with renewable electricity, to $1.50 per kilogram by 2025 in a bid to outcompete fossil fuel alternatives. Cost reductions will be made by bringing the technology to multi-gigawatt scale and growing production capacity, the company said Jan. […]
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Renewables Now: Norwegian utility-scale wind power developer NBT entered a partnership with Belgium-based WV International, former Windvision, to develop wind projects with a combined capacity of 800 MW in Serbia by 2026, the two companies said on Tuesday. The first wind parks with a combined capacity of 168 MW are coming online in 2023, NBT […]
Clark Williams-Derry and Tom Sanzillo
For 2021, expect conflict and infighting to further muddy the industry’s prospects
It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]
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PV Tech: Norwegian energy firms Equinor and Scatec are to collaborate on a 480MW solar project in Brazil. The duo have signed a Memorandum of Understanding (MoU) with compatriot energy and aluminium provider Hydro to develop the project, with Hydro set to become an offtaker for some of the solar farm’s production. The MoU will […]
IEEFA
PV Tech: Norwegian renewables giant Statkraft is to acquire UK-headquartered solar developer Solarcentury, taking on a 6GW global portfolio in doing so. The deal, struck at a purchase price of £117.7 million, will see Statkraft take on a pipeline of utility-scale solar projects in markets including Spain, Chile, Italy, Greece, France, the Netherlands and the […]
Tom Sanzillo and Suzanne Mattei
Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves
October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]
Press Release, Tim Buckley and Saurabh Trivedi
Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal
20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]
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Reuters: Norwegian solar firm Scatec Solar said on Friday it had agreed to buy state-owned hydropower firm SN Power in a $1.17 billion deal as it transforms itself into a global renewables company. The combined company would have 450 employees and own 3.3 gigawatts of in operation and under construction power plant capacity in 14 […]
IEEFA
S&P Global Market Intelligence ($): Statkraft AS is preparing to start work on a 519-MW wind project in northeastern Brazil, after signing a turbine supply contract with Nordex SE. The Ventos de Santa Eugenia wind project will consist of 10 wind farms with a total of 91 turbines in the state of Bahia. It is […]
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OffshoreWind.biz: The construction has started on the world’s largest floating offshore wind farm, Hywind Tampen, at Kværner Stord in Norway, Equinor said. Kværner’s assignment will include building eleven floating concrete hulls for the Siemens Gamesa 8 MW turbines on the 88 MW Hywind Tampen. “Eighty percent of the world’s offshore wind resources are located in […]
IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars
Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improvesOctober 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]