Ofgem gives conditional nod to 220-MW Scottish interconnector plan

17/09/2019 09:19 Electricity Market

news

UK energy regulator Ofgem said today it has given the thumbs-up to the construction of a 220-MW high-voltage transmission line that will connect the Orkney Islands with the Scottish mainland.

The interconnector, worth around GBP 260 million (USD 323.6m/EUR 293.1m), was proposed by Scottish and Southern Energy Networks (SSEN), part of UK utility SSE. The project is planned to be completed from 2023, enabling the interconnection of new wind parks and potentially tidal power plants.

 

The approval was granted following consultation and with conditions that require at least 135 MW of new wind projects on Orkney to be awarded Contracts for Difference (CfDs) or be “judged likely to be developed by December 2021.”

Source: renewablesnow.com

Exxon to make $500 million initial investment in Mozambique LNG project

08/10/2019 15:32:00

Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique.

<READ MORE

Qatar building large CO2 storage plant

08/10/2019 15:26:00

Qatar commissioned a carbon capture-and-storage plant and aims to sequester five million tonnes of carbon dioxide from its liquefied natural gas (LNG) facilities by 2025.

READ MORE

Daily (08.10.2019): Higher wind power output and warmer weather pushed NBP spot 6.3% down on Monday

08/10/2019 11:10:00

Oil prices were little changed on Monday on hopes of progress in U.S.-China trade negotiations which should take place on Oct. 10-11 in a fresh effort to work out a deal. However, worsening global economic conditions still put pressure on oil demand. Hence, Brent crude ended at $58.35 a barrel, while WTI futures lost 0.1% to end at $52.75 a barrel.

READ MORE