Norway: Statnett obtains 0.3 bln euro loan from EIB for electricity cable to Germany

02/06/2017 16:05 Electricity Market

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Norway's grid operator Statnett obtained a 300 million-euro ($336.33 million) loan from the European Investment Bank to finalize its electricity cable to Germany, according to the company on Friday.

The estimated cost of Nordlink cable is about 2 billion euros, while its capacity is likely to attain 1.4 GW. The link should be accomplished by 2019 and is expected to start operations in 2020.

 

EIB also issued a 350-million-euro loan to Nordlink's German co-constructor Tennet Holding in April. The bank targets to direct 25% of its investments towards climate action relevant projects, as stated by Andrew McDowell, the EIB’s Vice President.

Repsol sets up renewables unit

11/10/2019 16:01:00

Spanish oil business Repsol has established a renewable energy subsidiary, Repsol Renovables and plans to have 4.5 GW of clean energy generation capacity in 2025. And the fossil fuel giant claims it already has a clean energy pipeline in place sufficient to hit 90% of that ambition.

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Chongqing gas mine plans to build 10 billion square gas field

11/10/2019 15:58:00

Chongqing Daily reporter learned that the gas mine is speeding up the shale gas business and tapping the potential of the old area, and plans to stop the decline and pick up natural gas production by 2020, with natural gas production exceeding 5 billion square meters by 2025 and 8 billion square meters by 2035 and striving to reach 10 billion square meters.

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Daily (11.10.2019): EU carbon prices climbed by 2.5% on Thursday, following positive negotiations between the UK and Ireland

11/10/2019 10:44:00

Crude oil prices rebounded on Thursday, as OPEC pledges to take a supply decision for next year this December. Trade talks between U.S. and China to be held next week also lent support to prices. Hence, Brent crude rose by 1.3% to 59.10 a barrel, while WTI futures climbed by 1.8% on a daily basis to end at $53.55 a barrel.

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