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IEEFA
Re.News.biz: Norwegian energy company Statkraft has unveiled plans to build its first wind farms in Chile, comprising the three-project 102MW Torsa complex. Construction at Torsa, which will feature 19 Nordex N163/5.X machines, will start in the second half of this year. The three wind farms are called Cardonal, Manantiales and Los Cerillos and will be […]
IEEFA
Reuters: Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy project, a new asset class for the world’s largest state-owned investor, it said on Wednesday. The fund bought a 50% stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion) […]
Press Release and Guest Commentary: John Robert
With export markets' changing expectations, investors and industry beware
31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]
IEEFA
Reuters: Norwegian renewable energy producer Scatec plans to invest 100 billion Norwegian crowns ($11.8 billion) by the end of 2025 in a drive to increase output capacity fivefold, the company said on Tuesday. Originally a solar power producer, Scatec has expanded to hydro and wind power as well as electricity storage to capitalize on a […]
IEEFA
OffshoreWind.biz: Hywind Scotland, the world’s first floating offshore wind farm, has reached the highest average capacity factor for any wind farm in the UK for its third consecutive year. With an average capacity factor of 57.1% in the twelve months to March 2021, Hywind Scotland set a new record in the UK. During its first […]
IEEFA
Reuters: Norway’s Statkraft and Aker Horizons, a unit of investment firm Aker, have joined chemicals firm Yara in electrifying and decarbonising a plant in Norway to produce zero carbon ammonia, the companies said on Thursday. Yara, one of the world’s largest producers of nitrogen fertilisers, aims to eliminate CO2 emissions from the 500,000-tonnes-a-year plant in […]
Tom Sanzillo and Guest Commentary: Gerard Kreeft
After 25 years of deepwater drilling, African nation sinks $76B deeper in debt
The South American country of Guyana, the latest nation to have discovered commercial reserves of oil and gas, hopes to raise its standard of living, cut its debt, eliminate its deficit and create a sovereign wealth fund. It is in a weak position to accomplish these goals. Consider the example of Angola, which has hosted […]
IEEFA
S&P Global Market Intelligence ($): 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. […]
IEEFA
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 […]
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders
With export markets' changing expectations, investors and industry beware31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]