EBRD confirms investments in Baltic projects
Baltic News Service, 2010-02-19
EBRD Director of Power and Energy Nandita Parshad said at a news conference held in Vilnius, Lithuania, that the EBRD was prepared to invest in the building of interstate power links, upgrade of power generation and renewable energy projects in the Baltics. Mrs Parshad said, however, that investing in the targeted nuclear power plant- building project in Lithuania was not considered as it would be against the EBRD's investment practice. The EBRD is likewise prepared to contribute to the implementation of the power links between Lithuania and Poland; Lithuania-Sweden; and Estonia-Finland. The EBRD has opened a EUR 71mn credit line to the Lithuanian power plant, Lietuvos Elektrine, which will use the funds in building a 445 MW gas-fired unit.
Media reports that Russia may get 80% stake in Belene NPP
Russia's Kommersant newspaper has reported that the country may acquire a stake of 80% in Bulgaria's Belene Nuclear Power Plant (NPP) project in return for providing a loan worth EUR 1.90bn (USD 2.57bn) to finance initial construction of the plant. In order to pay back the loan, Bulgaria would have to sell electricity generated by the plant on the deregulated market.
RWE enters electricity market
RWE, a German energy group, started selling electricity in the Czech Republic in January 2010. It currently supplies only corporate clients but plans to serve households too. RWE promises that it will sort out all paperwork needed to change the electricity supplier. The company's goal is to have a double- digit market share within a few years.
Prime Minister wants to organise an annual "green growth" summit
Danish Prime Minister Lars Løkke Rasmussen wants to organise an annual "green growth" summit in Copenhagen to gather world leaders in Denmark to discuss climate and energy policy issues. According to Lars Løkke Rasmussen, all the activities around the recent COP15 climate summit in Copenhagen were of great value for Danish businesses as they demonstrated Danish competences and strength areas.
Government to decide on the Kriegers Flak windfarm project this summer
Danish Climate Minister Lykke Friis expects the government to put forward a proposal this summer regarding the planned offshore wind farm at Kriegers Flak in the Baltic Sea. The wind farm would supply electricity to Denmark and Germany and combine the two countries' power grids. The Danish Wind Industry Association has urged the government to put pressure on Sweden to make them join the project as it would make the cross-border wind farm and the combined grid connection even more interesting.
Commission adopts report on biomass sustainability
Press Release, 2010-02-25
The European Commission has adopted a report on the sustainability requirements of using biogas and soldid biomass in cooling, heating and electricity. The report is to give advice to EU member states that want to introduce national biomass schemes on how how to avoid pitfalls. This comes as there is no EU-wide set of rules for biomass schemes. The report suggests that the use of biomass from land that was converted from highly biodiverse areas or high carbon stock areas such as forests should be forbidden. It also recommends that the origin of biomass should be monitored.
EDF EN to invest EUR 434mn in world's biggest solar power project
Le Figaro, 2010-03-01
EDF Energie Nouvelles is set to make its biggest investment in ten years, sinking EUR 434mn (USD 591.80mn) into the world's biggest ever solar power project. For EUR 1mn (USD 1.36mn) per year, it will rent a 400-hectare disused military base in Toul-Rosières (Meurthe-et-Moselle), which will be covered with photovoltaic panels. The facility will have capacity of 143 MW, enough to power a community with 62,000 inhabitants. Since the area's climate is not the warmest, compared to energy prices in the South of France it will be granted a 17% bonus. The announcement follows plans for solar power plants in Gabardan (EDF EN, Landes) and Curbans (GDF Suez, Provence-Alpes-Côtes d'Azur), with capacity of 76 MW and 33 MW respectively. The Toul site is expected to be operational by 2013. It will bring EUR 1.30mn (USD 1.77mn) into the area each year, as well as generating employment.
Mibrag, CEZ to decide about new coal power station in 2010
Mitteldeutsche Zeitung, 2010-02-22
According to chief executive Joachim Geisler, Mitteldeutsche Braunkohlengesellschaft (Mibrag) is to take a decision by the end of 2010 on the construction of a coal power station in Profen. The EUR 1.20bn (USD 1.63bn) investment in a 660-MW power station will be financed by the new parent. Czech energy group CEZ acquired Mibrag from US owners together with finance group J&T in 2009. The proposed power station would rely on new coal deposits in the Lützen area. According to Geisler, trials there have met the company's expectations.
Eon completes sale of extra-high-voltage power grid to Tennet
German energy group Eon now completed the sale of its extra-high-voltage power grid to Dutch energy group Tennet. Thus, Tennet will take over all stakes in Eon's subsidiary Transpower Stromübertragungs with retroactive effect from 31 December 2009. The purchase price for the grid with a length of about 11,000km amounts to EUR 1.10bn (USD 1.49bn).
A2A denies possible sale of its stake in Edison to EdF
La Repubblica, 2010-02-23
Italian utility A2A has denied being interested in selling its stake in Italian energy provider Edison to its French partner EdF.
Riga City Council and Dalkia may set up joint venture Dalkia City Heat
Dienas Bizness, 2010-02-25
A joint venture, which may be established by Latvia's Riga City Council and Dalkia Latvija to take control over Riga municipal thermal energy and district heating company, Rigas Siltums (RS), may possibly be named Dalkia City Heat. Currently both parties are in talks over distribution of shares in the joint venture, to be managed by Dalkia Latvija. The time schedule of establishing the joint venture is not known yet. For now, Riga City Council controls 49% of RS' stake, the State of Latvia controls 48.995% of the stake, Dalkia City Heat controls 2% of the stake, and state-owned power utility, Latvenergo, controls 0.005% of the company's stake.
Fortum to build CHP plant in Klaipeda
The Baltic Course, 2010-02-24
Finland's state-owned energy group, Fortum, will build a combined heat and power plant in the Lithuanian city of Klaipeda. The value of the investment is around EUR 140mn. The power plant will run on municipal and industrial waste and biomass, and should begin production by January 2013. The plant's production capacity will be 50 MW of heating energy and 20 MW of electricity. The plant will sell the heating energy to Klaipeda's municipal utility, Klaipedos Energija, and the electricity to Lithuania's national power grid.
Rosatom searches for investors in construction of Baltic NPP
Rosatom intends to attract investors for participation in a project to construct Baltic nuclear power plant (NPP). Two variants are offered to possible investors: up to 49% of capital in the plant, or long-term agreements about electric power supply. According to Sergey Kirilenko, the general director of Rosatom, investors are very interested in the project. Particularly, German companies are meant, as well as companies from countries neighbouring the Kaliningrad region (North-West).
Bids for EDF's electricity network expected by mid-2010
Channel News Asia, 2010-03-01
According to a report by The Sunday Telegraph, bids for the UK electricity distribution network of France-based EDF are expected by the middle of March 2010. Bids are anticipated to be made by Hong Kong-based Cheung Kong Infrastructure; a consortium of Canadian pension fund Borealis with Scottish & Southern Energy; and a consortium that includes sovereign wealth fund ADIA from the UAE, Canadian Pension Plan and Australia's Macquarie Infrastructure. The network takeover is estimated to be worth some GBP 4bn (EUR 4.45bn USD 6.07bn).
Government boosts development of tidal energy
New Energy Focus, 2010-02-22
The Technology Strategy Board supported by the British Government is inviting companies to create innovative solutions in order to promote the development of wave and tidal power generation. In 2010 the Government has set up a competition in which companies can qualify for GBP 12mn (EUR 13.70mn USD 18.53mn) worth of investments. The first GBP 9mn investment to be launched in March 2010, aims the reduction of the cost of equipment to generate tidal and wave energy and also to improve its reliability. The second GBP 3mn scheme to be launched in September 2010 will support the use of equipment in the pre commercial stage and it is aimed at companies already involved the pre development stage of their technology.
Disclaimer: The newsletter "Energy News Europe" contains an overview of energy-related news published in European media. It does not represent the views of Vattenfall or its management.