Brazilian energy major Petrobras (Petróleo Brasileiro S.A.) announced the signing of a Memorandum of Understanding (MoU) with the Norwegian oil major Equinor to evaluate a joint business development in the offshore wind energy industry in Brazil.
Belgium’s plans to support three offshore wind farm projects are in line with EU State aid rules, the European Commission announced, noting that the measure will further EU energy and climate goals without unduly distorting competition in the Single Market.
The European Commission has granted approval to the EnFAIT €20 million tidal energy project to proceed to its next stage, after a successful first year of design development and operations. The project aims to prove that the cost of tidal energy can be reduced by at least 40%.
Avangrid and Copenhagen Infrastructure Partners will develop an 800-megawatt offshore wind farm south of Martha’s Vineyard. This facility will save about $1.4 billion in a course of 20 years. Construction on the wind farm will start during 2019, and it is expected that it will start operation in 2021.
The Icebreaker Wind energy project proposed for Lake Erie has received a Section 401 water quality certificate of approval by Ohio’s Environmental Protection Agency, confirming compliance with marine pollution standards, and marking further a step towards the project implementation.
The European Commission has approved a French project promoting electricity generation from tidal energy, which was found to be in line with EU State aid rules, while it is expected to contribute further the EU’s energy and climate goals without distorting competition in the Single Market.
The New Jersey Board of Public Utilities proposed a rule that would establish an offshore wind funding mechanism known as an Offshore Wind Energy Certificate. The program intends to help the state reach its immediate goal of 1,100MW of offshore wind capacity and pave the way for the ultimate goal of 3,500MW.
In its ‘Energy Trends’ report for Q1 2018, the UK Department for Business, Energy and Industrial Strategy said the country has made 15% progress in the target set under the 2009 EU Renewable Directive. Provisional calculations show that 10.2% of final energy consumption in 2017 came from renewable sources; up from 9.2% in 2016.
India’s Ministry of New and Renewable Energy unveiled medium and long-term targets for the country’s offshore wind energy of 5GW by 2022 and 30 GW by 2030, respectively, as part of overall efforts to boost national renewable energy sector. MNRE had notified National Offshore Wind Policy in October 2015.
Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 – on the back of precipitous reductions in cost, and the advent of cheaper and cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply, said BNEF in its New Energy Outlook 2018.
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