15 May 2017 2017 02:42 PM GMT

Engie Strengthens Solar Presence In China With 30% Equity Investment In UNISUN

ENGIE has signed in Shanghai an Agreement for a 30% equity investment through a capital increase in UNISUN, a solar photovoltaic (PV) company. Since 2014, UNISUN has successfully developed around 500 MW PV projects, showing strong technical capacity. During COP21, China pledged to peak its carbon emissions in 2030 or earlier; the country shall subsequently increase the share of non-fossil energy from 13% to 20% in its energy mix by then.

ENGIE, a global energy player with the ambition to be a leader of the energy transition, sees the contribution to Chinese renewable energy development as mutually beneficial; and sees its role in China as supporting the transformation of China into a low-carbon economy. The company is aiming to support UNISUN in the field of photovoltaic business’ development, ownership, operation, as well as smart energy management in China. Forecasting fast growing business, UNISUN is targeting a development of around 4 GW PV projects (cumulated capacity) by 2020 in China.

He Yisha, President of UNISUN, stated: “The investment by the energy giant ENGIE into UNISUN demonstrates that the innovative business model and comprehensive service capacity of UNISUN is highly recognised. ENGIE’s strong support, in terms of experience, technology and resources will lead to a comprehensive upgrading of UNISUN capacity to achieve its vision to be a competent, innovative and integrated energy provider”.

Charlotte Roule, COO of ENGIE China declared: “This investment into UNISUN, which develops both projects of production on wholesale electricity market and projects for BtoB clients, represents for ENGIE the opportunity to step in the world biggest and most promising renewable power market. It demonstrates once again the ambition of ENGIE to be a leader of the energy transition in the world”.

ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group formerly known as GDF-Suez provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of over €65 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).

June 23rd 2017
Indian Firm Wins 1.8GW Sweihan Order; The Largest Solar PV Project In The World

Indian company Sterling and Wilson has won the contract for the world’s largest single location solar PV project. The Sweihan project in Abu Dhabi is for turnkey EPC as well as O&M; and is jointly developed by Japanese investment firm Marubeni, Chinese solar company Jinko Solar, and Abu Dhabi Water and Electricity Authority (ADWEA). It will deliver a capacity of 1177 MWp, surpassing the current largest 850 MWp single location plant in China. In March 2017, Marubeni and Jinko had signed a 25-year PPA with ADWEA on a tariff of $0.0242/kWh, making Sweihan also the plant with the lowest electricity price so far.

June 20th 2017
EDF, Canadian Solar Join Forces For One Of The Largest Solar Projects In LATAM

EDF Energies Nouvelles has acquired an 80% interest in the Pirapora II PV project (115 MWp) from Canadian Solar Inc., which is retaining a 20% stake and manufacturing the PV panels locally. It marks the latest step by EDF in Brazil’s renewable energy sector. With this addition, it now has 489 MW under construction, consisting of 183 MW (wind) and 306 MWp (solar). The project is located close to Pirapora I (191 MWp), also jointly owned by both companies. With a total installed capacity of over 300 MWp, the energy generated by both projects will cover the annual electricity consumption of 323,000 Brazilian homes.

June 23rd 2017
Wind Power Can Provide Energy On Coldest Days: Met Office, Imperial College

A new study by climate scientists has advanced the understanding of the potential for wind power to provide energy during the coldest spells of winter weather. The team, which involved scientists from the Met Office Hadley Centre, Imperial College London and the University of Reading, compared wind power availability with electricity demand in winter and they found an interesting result. The team found that during the highest 5% of energy demand days, one-third produce more wind power than the winter average. “The very coldest days are associated with a mix of different weather patterns, some of which produce high winds in parts of the UK.

June 16th 2017
New BNEF Report Highlights A Massive Shift to Wind And Solar, While Coal Fades

A new independent report from Bloomberg New Energy Finance (BNEF) states that clean energy such as wind and solar will account for almost 75% of investment in power generation worldwide, between now and 2014. New Energy Outlook 2017 estimates that overall $10.2 trillion will be spent on power generation technology in the next 22 years, with $7.4 trillion being spent on renewables. This year’s forecast sees solar energy costs dropping a further 66% by 2040, and onshore wind by 47%, with renewables undercutting the majority of existing fossil power stations by 2030.