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PV Magazine: Chemical-based battery company LG Energy Solution‘s (LGES’) $10.7 billion initial public offering received bids worth around $80 billion from institutional investors, Reuters reported today. The book for the offering, the largest ever held in South Korea, will close tomorrow with deal pricing set for Friday. The reported IPO could take the company’s value […]
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Energy Storage News: Chile has published details of its latest power auction set to take place later this year that will contract 5,250GWh per annum for 15 years. The country’s National Energy Commission (CNE) said it will carry out the tender to support the government’s decarbonisation efforts and the promotion of renewables and energy storage […]
Guest Contributor: Adrian Blundell-Wignall
From Glasgow, the U.S. and Europe must produce three critical fiscal developments to counter climate change
I was struck by the image of the G20 leaders tossing coins over their shoulders into the Trevi Fountain to make a wish. That pretty much sums up what members of that group will be left with – not least our own PM – if they don’t get moving on providing an adjustment mechanism to counter climate […]
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Reuters: Ukraine, Fiji, Colombia, Kenya and Mali will be the first countries to participate in an investment program announced on Thursday that will help developing countries transform their power grids to carry growing levels of renewable energy. The Climate Investment Funds (CIF), created by the world’s biggest economies in 2008 to help developing countries accelerate […]
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Reuters: Australian mining billionaire Andrew Forrest is planning what could be up to an $8.4 billion “green hydrogen” investment in Argentina, the South American country’s government said on Monday after a meeting between the businessman and President Alberto Fernandez. Forrest, whose Fortescue Metals Group Ltd (FMG.AX) aims to become carbon-neutral by 2030, is a major […]
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Energy Storage News: Statkraft has been awarded a tender of public lands in Chile to host a wind power project and Total Eren is developing a 1GW wind power project in Kazakhstan: both would be paired with large-scale battery energy storage systems (BESS) of up to 1GWh capacity each. Statkraft Chile said last week that […]
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PV Tech: Colombia has awarded contracts to 11 solar PV projects with a combined capacity of 796.3MW in its third renewable energy auction. The winning projects are backed by 15-year power purchase agreements (PPAs) and are required to be operational from January 2023. Average winning bids in the auction yesterday (26 October) were COP155.8/kWh (US$0.0414/kWh), […]
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PV Tech: Essentia Energia has begun operations at its 475MW Sol do Sertao solar power plant in the Brazilian state of Bahia. Sol do Sertao is the second largest solar project in Brazil and the third largest in Latin America, according to Essentia. The plant, which took 19 months to complete, utilises more than one […]
Tom Sanzillo and Press Release
Government pays annual income taxes for ExxonMobil, Hess and CNOOC
September 28, 2021 (IEEFA) — Guyana is giving tax breaks worth at least USD$1.7 billion over five years to three of the world’s largest oil companies, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA). Tax concessions granted to ExxonMobil, Hess and the China National Offshore Oil Company (CNOOC) by […]
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Houston Chronicle: The energy transition is well underway at the Offshore Technology Conference in Houston, and everyone in the fossil fuel industry should pay attention. Following the cancellation of last year’s OTC due to the COVID-19 pandemic, the four-day conference of energy suppliers, producers and supporters will be much smaller. Fewer panels, fewer technical discussions […]
IEEFA: The cash hit-list to counter climate change
From Glasgow, the U.S. and Europe must produce three critical fiscal developments to counter climate change
I was struck by the image of the G20 leaders tossing coins over their shoulders into the Trevi Fountain to make a wish. That pretty much sums up what members of that group will be left with – not least our own PM – if they don’t get moving on providing an adjustment mechanism to counter climate […]