Cappro news – Page 6
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CapPro newsOEUK ‘concerned’ over UK offshore auction results
On September 8, the UK government announced the results of the latest offshore wind auction – Auction Round 5 (AR5). Results showed no bids for new offshore wind farms, but there were deals for solar, tidal and onshore wind projects.
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CapPro newsEU passes bill increasing renewable energy targets
The European Parliament has approved revisions to the Renewable Energy Directive (RED). The directive raises the EU’s renewable energy target substantially, aiming to reach 42.5 percent of final energy consumption from renewables by 2030.
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CapPro newsIEA calls for supercharged collaboration to meet 1.5°C climate goal
Countries must supercharge international collaboration on technologies and markets for high-emission sectors such as power, transport, industry, buildings and agriculture, in order to get to get back on track for the 1.5°C climate goal.
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CapPro newsBoosting UKCS output
The UK’s continental shelf still contains energy reserves equivalent to 15 bn barrels of oil – enough to fuel the UK for 30 years – according to a report from Offshore Energies UK.
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CapPro newsH2Kwinana moves closer to FID with concept development complete
Western Australia is a step closer to the creation of a large-scale green hydrogen hub with bp completing its concept development phase study into its energy hub H2Kwinana.
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CapPro newsUK wind energy pipeline under threat from rising costs and planning headaches
Westwood Global Energy Group’s current outlook for the UK’s 2030 installed base for the offshore wind sector stands at 48.4GW. This suggests that the UK will only fall slightly short of its ambitious 50GW 2030 target. However, a review of the pipeline leading up to 2030 reveals potential risks that could result in a shift in our outlook.
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CapPro newsGigastack project paused
The UK’s Gigastack project – a development that would use power from the Hornsea 2 wind farm to produce renewable hydrogen – has been put on ice.
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CapPro newsPorthos construction can go ahead, says Dutch court
Media reports suggest that the Porthos carbon capture project can go ahead, despite objections from climate lobbyists.
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CapPro newsFinal permits pending on Triton project
OX2’s offshore wind farm Triton, located off the southern coast of Sweden, has received a Natura 2000 permit. In June, the County Administrative Board suggesting the government grant Triton a permit according to the Act on Sweden’s Exclusive Economic Zone. If the government gives the final approval, construction could start by 2027 and production start before 2030.
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CapPro newsDeepOcean becomes supplier for Nordseecluster A
RWE has appointed ocean services provider DeepOcean as preferred supplier of subsea installation services in connection with the Nordseecluster A offshore wind development off the German coast.
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CapPro news
Guyana’s petroleum bill passes
Guyana’s Petroleum Activities Bill was read for third time before being passed in the National Assembly on August 10.
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CapPro news
Canada publishes draft green energy regulations
The Canadian government has released draft clean electricity regulations (CER) aimed at achieving a net-zero emissions power grid by 2035.
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CapPro newsAustralia moves forward with Illawarra Renewable Energy Zone
The Australian federal government is commencing public consultation for an offshore wind development zone in the Illawarra. NSW Ports has welcomed the decision, as it positions itself as a hub to support offshore wind development projects.
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CapPro newsBOEM sets date for Gulf of Mexico offshore wind auction
The USA will hold the first-ever offshore wind energy lease sale in the Gulf of Mexico, including two lease areas off the coast of Texas and one off the coast of Louisiana.
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CapPro newsWork suspended at Norfolk Boreas due to cost inflation
The UK’s offshore wind energy industry suffered a blow this week when developer Vattenfall said that it suspended work on its 1.4 GW Norfolk Boreas site.
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CapPro newsIneos Project ONE permit cancelled
The environmental permit for the billion-dollar Ineos Project ONE has been revoked, dealing a harsh blow for Antwerp’s – and Europe’s – chemical sector.
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CapPro newsClean spending boosts in response to pandemic
Clean energy spending allocated by governments in response to the pandemic has risen to USD710 bn, according to latest data from the International Energy Agency (IEA).
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CapPro news
Shale oil hedging concerns
US shale oil producers are in line to suffer more than USD10 bn in derivative hedging losses this year if oil prices remain around USD100 per barrel, Rystad Energy research shows.
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CapPro news
Recoverable reserves down 9 percent
According to Rystad Energy analysis, global recoverable oil now totals an estimated 1,572 bn barrels, a drop of almost 9 percent since last year and 152 bn fewer barrels than 2021’s total.
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CapPro newsIndian renewable investments surge
Investment in renewable energy in India reached a record USD14.5 bn in the last financial year (FY2021-22), an increase of 125 percent compared to FY2020-21 and 72 percent over pre-pandemic FY2019-20, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).