FRANKFURT: Germany’s power network operators (TSOs) will hike by 5.5% next year the fee consumers have to pay to support the country’s shift toward renewable energies, they said on Tuesday, confirming what a source earlier told Reuters. The surcharge is a key part of Germany’s policy to switch to lower carbon sources of energy, known […]
German Clean-Energy Fund Expanding Into U.S. Solar Development
Germany : based clean-energy fund Hep Kapitalverwaltung AG agreed to invest $50 million to $80 million annually in a partnership to develop small solar projects in the U.S. Hep and ReNew Petra, a North Carolina-based renewable energy company, plan to jointly develop more than 100 megawatts of solar annually, according to a statement Wednesday. Their […]
Glennmont to take 25% stake in German offshore wind project
LONDON: Fund manager Glennmont Partners will take a 25% stake in the Gode Wind 1 project off the coast of Germany, it said on Monday, marking its first investment in offshore wind. London-based Glennmont has 2 billion euros ($2.3 billion) of assets under management and already invests in renewable projects such as onshore wind and […]
German network agency approves solar power projects
The majority of the approved capacity was for Mecklenburg-Vorpommern state in the northeast, at an average price of $0.0613 cents per kWh, down from 6.59 cents awarded in the previous round FRANKFURT: Germany’s federal network agency on Wednesday reported it had approved 14 bids for a solar power capacity of 205 megawatts (MW) in this […]
Save coal, lose youth vote? Far-right German party faces climate policy revolt
A youth wing of Germany’s far-right Alternative for Germany (AfD) has called on the party to rethink its climate scepticism, which includes defending the coal industry, after a poor showing among young voters in last week’s European Parliament election. A youth wing of Germany’s far-right Alternative for Germany (AfD) has called on the party to […]
Enel team fires German battery
Enel Green Power Germany, Enertrag and Leclanche have inaugurated the 22MW Cremzow energy storage system in the German state of Brandenburg. The €17m battery project in Cremzow will support the stability of the German grid by providing frequency regulation services to the country’s primary control reserve, Enel said. “When the grid’s frequency decreases due to […]
Cracks appear in German government over planned climate law
Germany’s environment minister on Monday backed a European proposal to virtually eliminate man-made greenhouse gas emissions by mid-century, deepening divisions within the German government over how to tackle climate change. French President Emmanuel Macron and eight either EU countries pitched the plan at a summit of European leaders last week, but Germany was a notable […]
German government warming toward carbon tax: paper
BERLIN: Germany looks set to introduce an economy-wide system of carbon emissions pricing after senior officials from both parties of Berlin’s governing coalition reached a consensus on the proposal, the Frankfurter Allgemeine reported on Sunday. According to the newspaper, Economy Minister Peter Altmaier, a conservative, had come round to the idea after initially opposing the […]
French utility Engie to sell some German and Dutch coal power assets
Engie said it was selling those assets to investment firm Riverstone Holdings LLC and that the deal would cut Engie’s net consolidated debt by around $223 million PARIS: French utility Engie has agreed to sell some coal-fired power plants in the Netherlands and Germany, as Engie continues its strategy of disposing of non-core assets to […]
Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company
The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing facility of up to $5 million. […]
