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 20th 2018
Battery Boom: Wind And Solar Can Generate Half Of Worldwide Electricity By 2050

Coal is to shrink to just 11% of global electricity generation by mid-century, from 38% now, as costs shift heavily in favour of wind, solar and batteries. Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 due to reductions in cost. “Cheap battery storage means that it becomes increasingly possible to finesse the delivery of electricity from wind and solar so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear.”

May 22nd 2018
Chinese Solar Surge Fuels Overall Global Growth In Clean Energy Investment

World clean energy investment totalled $333.5 billion last year, up 3% from 2016 and the second highest annual figure ever, taking cumulative investment since 2010 to $2.5 trillion. An extraordinary boom in photovoltaic installations made 2017 a record year for China’s investment in clean energy. This outpaced changes elsewhere, including jumps in investment in Australia and Mexico, and declines in Japan, the U.K. and Germany. The figures up 3% from a revised $324.6 billion in 2016, and only 7% short of the record figure of $360.3 billion, in 2015.

June 20th 2018
Growth Of Renewables In Peru As Enel Opens Largest Wind Farm In Country

Enel is now Peru’s leading renewable energy generator with around 1.1 GW of installed capacity following the commissioning of Wayra I which, with more than 132 MW, is now Peru’s largest wind farm. Built in approximately a year and comprising 42 wind turbines of 3 MW over each, it’s expected to produce 600 GWh per year; enough to avoid the annual emission of over 285,000 tonnes of CO2 into the atmosphere. The energy generated by the wind farm is being delivered to the Peruvian transmission grid (SEIN) through the Poroma substation. The project is supported by a 20-year energy supply contract with Peru’s Ministry of Energy and Mines.

June 18th 2018
IET’s Renewable Power Generation Conference Comes To Copenhagen

The Institution of Engineering and Technology’s popular Renewable Power Generation conference will be making its first visit to Denmark this year. The conference, now in its 7th iteration, will be hosted by the Center for Electric Power and Energy at DTU, which also manages the world-class experiment platform for research and development of renewables integration – PowerLabDK. Over 180 new research papers will be presented at the conference. Attendees will be able to find out the latest ideas and thinking around wind power plant modelling and control; wave and tidal energy; renewable energy forecasting; power conversion and grid interaction; Hybrid systems combining multiple energy sources; the impact of distributed generation and use of HVDC.