Masdar, Armenia sign MoU for 500 MW of wind, solar capacity

15/07/2019 08:29 Renewable


Armenian National Interests Fund (ANIF) on Friday signed a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company, better known as Masdar, for the development of 500 MW of renewable energy capacity.

Under the MoU, the state company and Masdar will pursue together the installation of 100 MW of floating solar photovoltaic (PV) capacity, 200 MW of normal PV and 200 MW of onshore wind in Armenia.


The country, with its more than 200 rivers and lakes, offers good conditions for the development of floating solar power projects. It also enjoys wind speeds of 8.5 m per second and above and an estimated 1,720 kWh of solar energy irradiation per sq m.


Currently, the country aims to have renewables accounting for 26% of its domestic power needs by 2025.


Costa Cruises’ 2nd LNG-powered cruise ship floated out in Finland

18/01/2021 08:57:00

Costa Toscana, an LNG powered, 185,000 GT cruise ship being built for Carnival’s Italian brand Costa Cruises, was floated out to the outfitting pier at Finland’s Meyer Turku shipyard on 15 January 2021.


Daily (15.01.2020): U.S. WTI crude ended at its highest level in 11 months on Thursday amid stimulus optimism

15/01/2021 09:11:00

Crude oil futures gained ground on Thursday, with U.S. WTI crude hitting its highest level since February of last year, buoyed by the continuing COVID-19 vaccine rollout and hopes that a new U.S. coronavirus relief plan could boost oil demand. Hence, Brent crude rose by 36 cents, or 0.6%, to settle at $56.42 a barrel on ICE Futures Europe. U.S. oil benchmark increased by 66 cents, or 1.3%, to close at $53.57 a barrel on the New York Mercantile Exchange.


Portugal on track to become coal-free by year end

15/01/2021 08:50:00

The Sines coal plant in Portugal went offline at midnight yesterday evening (14 January), leaving Portugal with just one remaining coal power station in operation, which is scheduled for closure in November.