THE FRIDAY NOTE: Turkey's Enerjisa eyes 4 GW of renewables by 2020 and the rest of the week's top picks
Sep 27, 2013 - This week Turkey's Enerjisa unveils 4-GW renewables goal by 2020, Russia selects 504 MW of wind, solar in subsidies tender and Mitsubishi Heavy Industries forms offshore wind joint venture with Vestas.
Enerjisa, a unit of Turkish conglomerate Sabanci Holding (BIST:SAHOL), aims to have 4 GW of renewable energy capacity in operation by 2020, Sabanci Holding said in a statement on Thursday. At present, the company has 1.3 GW of natural gas-fired power plants, 481 MW of hydropower and 211 MW of wind farms in operation.
EMERGING MARKETS TO ADD 10.9 GW OF PV IN 2017 - IHS
On the same day, IHS (NYSE:IHS) said that Turkey was likely to install 2.8 GW of solar photovoltaic (PV) capacity between 2013 and 2017. The country took the second place in the market research firm’s top 10 ranking of emerging markets in terms of anticipated installations by 2017. Thailand ranked first with 2.9 GW.
According to IHS, emerging markets will reach annual PV capacity additions of as much as 10.9 GW by 2017, up from 2.2 GW in 2012. The compound annual growth rate (CAGR) for PV in such countries will be 38% in the period between 2012-2017, compared to 13% for the global solar market. By 2017 around 40 emerging markets are expected to hold a 19% share of the global PV capacity.
VESTAS, MITSUBISHI HEAVY TIE UP IN OFFSHORE WIND JV
On Friday, Denmark's Vestas Wind Systems A/S (CPH:VWS) and Japan's Mitsubishi Heavy Industries Ltd (TYO:7011), or MHI, agreed to establish a 50/50 offshore wind joint venture with a focus on Vestas' 8-MW turbine platform. MHI will be able to boost its shareholding by 1% in April 2016.
The JV will combine the two firm’s capabilities in the offshore wind segment and is expected to bring significant synergies. As part of the deal, Vestas will transfer to the JV the development of the V164-8.0 MW turbine, the V112 offshore machine order book, current offshore service deals and about 300 workers. MHI will invest EUR 100 million (USD 135m) in cash into the entity and EUR 200 more depending on milestones.
Earlier in the week, Vestas unveiled the biggest order it had received since 2010. The company got a contract to supply 200 pieces of the V110-2.0 MW machine for the Los Vientos III and Los Vientos IV wind parks in Texas of Duke Energy Corp (NYSE:DUK).
RUSSIA SHORTLISTS 504 MW OF RENEWABLES IN GOVT AUCTION
The Russian government has selected 39 renewable energy projects with a combined capacity of 504 MW to receive state subsidies, Russian energy regulator Market Council said Monday. The first government auction to support the country’s renewable segment targeted 1,100 MW of wind capacity and 710 MW of solar capacity for the 2014-2017 period.
Overall, 32 solar projects got approval for 399 MW of capacity, while wind project developers got the nod for a little over 100 MW.