UK: The world’s hugest offshore wind farm to be built by Dong Energy

12/09/2017 15:34 Wind

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The UK contract to build 1.4 gigawatts (GW) capacity at its Hornsea 2 wind power project, likely to be the world’s hugest offshore wind farm, has been awarded to DONG Energy.

According to the Danish wind firm, the guaranteed price to deliver power, established under the Contracts of Difference (CfD) scheme, is 57.50 pounds/MWh, or 50 % lower than the allocations at auction two years ago.

 

The replacement of direct subsidies for renewable power with a contracts-for-difference (CfD) system was part of the reforms to Britain’s electricity market.


According to the scheme, a minimum price is guaranteed for the eligible projects, at which these can sell electricity, and renewable electricity producers bid for CfD contracts in a round of auctions.

 

The Hornsea Project Two will have enough power to supply 1.3 million homes with electricity.

Azerbaijan: The deal to extend oilfield to 2049 signed by BP-led partners and SOCAR

18/09/2017 11:40:00

A deal has been signed between the Azerbaijan government, the State Oil Company of Azerbaijan (SOCAR) and BP-led partners for the Azeri, Chirag, and deepwater Gunashli field (ACG) in the Caspian Sea.

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Daily (18.09.2017): British gas contracts dipped on Friday due to weaker energy complex

18/09/2017 10:57:00

Oil prices were firm on Monday and stayed close to multi-month peaks hit late last week as the number of U.S. rigs drilling for new output fell and due to the restart of the refineries after Hurricane Harvey.

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Dubai, Shanghai Electric and ACWA Power cut a solar power deal worth $3.9 billion

18/09/2017 10:24:00

Shanghai Electric and Saudi Arabia’s ACWA Power will construct and manage a 700-megawatt solar power plant under a $3.9 billion contract awarded by Dubai’s state energy utility.

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