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.

Daily (15.08.2018): Bullish UK gas forward prices on Tuesday, due to upcoming maintenance at Kollsnes

15/08/2018 11:32:00

Increasing trade tensions between US and China led to a decline in oil prices on Tuesday. Brent crude edged 0.2% lower at $72.46 a barrel, due to a pessimistic economic outlook and predictions of reduced demand. Meanwhile, WTI crude ended 0.2% down at $67.04, following the rise in crude inventories.

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TANAP to strengthen Turkey's energy security - minister

15/08/2018 08:26:00

Trans-Anatolian Natural Gas Pipeline (TANAP) will strengthen Turkey’s energy security and contribute to the diversification of energy sources, Minister of Energy and Natural Resources of Turkey Alparslan Bayraktar said, Turkish media reported.

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Egypt Signs New Agreements with European Oil Companies

15/08/2018 08:18:00

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed three agreements today for the exploration of oil and natural gas in the Mediterranean, Western Sahara and Nile Delta.

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