Jun 20, 2014 - This week the French energy minister proposed a 32% renewables goal for 2030, Britain said yes to a 1.2-GW offshore wind proposal and Abengoa Yield's IPO raised USD 829 million.
Energy and environment minister Segolene Royal on Wednesday presented a bill under which France will seek to boost the share of renewables in its total power production to 40% and to 32% of its total energy demand by 2030. The new legislation is also intended to simplify the legal procedures for the wind sector and thus cut the time needed for constructing wind farms.
More details at: http://renewables.seenews.com/news/france-sets-40-renewables-power-target-for-2030-426375
SOLAR PARKS BRING 50% OF GERMANY’S POWER ON JUN 9
Meanwhile in neighbouring Germany solar power generation reached a peak of 23.1 GW on June 9, enough to meet 50.6% of the total electricity demand at the time, according to data by the Fraunhofer ISE. The solar energy research institute also reported that PV systems have produced a record 24.24 GW of electricity between 1300 and 1400 local time on June 6.
On a more negative note, on Thursday solar industry association BSW-Solar said that Germany has installed only 818 MW of PV capacity in January-May, down 45% year-on-year. The organisation warned that the country is likely to miss its annual solar installations goal of 2.5 GW-3.5 GW for 2014.
More details at: http://renewables.seenews.com/news/solar-parks-generate-over-50-of-germanys-power-on-jun-9-426528
and at: http://renewables.seenews.com/news/german-solar-installations-in-jan-may-2014-fall-to-818-mw-426479
JAPAN INSTALS 7 GW OF SOLAR IN FY 2013/14
Speaking of capacity additions Japan’s Ministry of Economy, Trade and Industry (METI) said Thursday that the country has installed 7,185 MW of renewable energy capacity in the fiscal year through March 2014, including 7,042 MW of solar photovoltaic (PV) plants. The Asian country added 5,735 MW of non-residential and 1,307 MW of residential solar systems in the period.
More details at: http://renewables.seenews.com/news/japan-installs-7-gw-of-solar-in-fy-2013-14-426596
UK OKAYS 1.2-GW EAST ANGLIA 1 OFFSHORE WIND PARK
On the wind energy front the TOP news this week came from Britain. On Tuesday the UK government gave the go-ahead to Vattenfall AB and ScottishPower Renewables (UK) Ltd's proposal to build the up to 1.2-GW East Anglia 1 wind park off the coast of Suffolk. Construction is set to begin in 2017 with offshore installation works starting the following year.
On the same day, the British government said that local firm MAP Environmental Ltd and Z N Shine Solar of China have struck a joint venture agreement to acquire, build and manage GBP 400 million (USD 682m/EUR 502m) worth of solar parks in the UK. The solar cooperation deal is part of GBP 14 billion of trade and investment agreement between UK and Chinese companies signed on Tuesday during China's Premier Li Keqiang to the UK.
More details at: http://renewables.seenews.com/news/uk-okays-1-2-gw-east-anglia-1-offshore-wind-park-426055
and at: http://renewables.seenews.com/news/uk-firm-teams-up-with-z-n-shine-of-china-in-gbp-400m-solar-jv-426163
ABENGOA YIELD’S IPO BRINGS USD 829M, NEXTERA RENEWABLES ARM EYES UP TO USD 314M
To conclude this week’s Friday Note come the initial public offerings (IPOs) of the yieldco arms of Spain's Abengoa (MCE:ABG) and NextEra Energy (NYSE:NEE) in the US, which may reach a combined value of over USD 1.2 billion (EUR 882m).
The Spanish company’s unit Abengoa Yield plc (NASDAQ:ABY) raised USD 828.8 million gross from its listing on the Nasdaq after the over-allotment option was exercised in full, the parent said on Monday. The subsidiary was set up as a dividend growth-oriented firm to own, manage and acquire renewable energy assets, conventional power plants, electric transmission lines and other contracted revenue-generating assets.
On Thursday NextEra Energy Partners LP (NEP), which holds interests in nearly 1 GW of renewable energy assets, also initiated the sale of 16.25 million common units to the public at an expected price of between USD 19.00 and USD 21.00 apiece. The Florida-based subsidiary has stakes in wind and solar parks in the US and Canada.
More details at: http://renewables.seenews.com/news/abengoa-yields-ipo-proceeds-reach-usd-829m-gross-425849
and at: http://renewables.seenews.com/news/nextera-renewables-unit-eyes-up-to-usd-341m-from-ipo-426543
(GBP 1 = USD 1.705/EUR 1.253)
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