Friday 23 August 2013

Renewable energy use gaining worldwide:IEA
27 Jun 2013

RENEWABLES like solar and wind power represent the fastest-growing source of energy generation and will make up a quarter of the global power mix by 2018, the International Energy Agency IEA says. The IEA said that in 2016 renewable energy will overtake natural gas as a power source and will be twice that of nuclear, and second only to coal as a source of power.

The growth of renewables has been bolstered by increased competitiveness with conventional energy. It is "a bright spot in an otherwise bleak assessment of global progress towards a cleaner and more diversified energy mix", said IEA Executive Director Maria van der Hoeven. The report listed Australia as one of several countries where renewable energy was becoming more competitive.

It said Australian wind generation is cost-effective next to new coal and gas-fired plants with carbon pricing. It also noted the success of onshore wind turbines in Brazil and South Africa. Renewable energy is growing especially fast in China and other developing and emerging countries. The IEA said non-hydroelectric renewable power, mainly wind and solar photovoltaics, is projected to grow from 4% of all power generation in 2011 to 8% in 2018.

"As their costs continue to fall, renewable power sources are increasingly standing on their own merits versus new fossil fuel generation", said van der Hoeven. "This is good news for a global energy system that needs to become cleaner and more diversified, but it should not be an excuse for government complacency, especially among OECD countries".

Still, the IEA, an institute backed by major energy consuming countries, cautioned that the continued growth of alternatives to oil, gas and coal faces some important challenges.

These include uncertainty about long-term government policies that discourages investment, reduced subsidies in some countries because of economic problems, and tough competition from other energy sources, such as the US, where a boom in shale gas has made that fuel more competitive. The report comes on the heels of recent research suggesting the threat of climate change is greater than earlier estimates.

An IEA report released earlier this month warned the world is on track to surpass by more than double the two-degree Celsius warming goal set by the United Nations, unless urgent measures are taken. The IEA's recommendations include curtailing coal-fired power stations and phasing out fossil fuel subsidies.

Solar, Project, Photovoltaic
27 Jun 2013

Electricity Generating Plc (EGCO2, the first independent power producer in Thailand, has paid 3.2 billion baht (A$110m) for full ownership of the Boco Rock Wind Farm in New South Wales, Australia.

In its press statement issued Thursday, the company said the purchase was a result of a 100% investment in Asia Pacific Renewables Ltd, principally owned by Continental Wind Partners, the developer of the wind farm. The share purchase agreement was executed on Tuesday.

The 113MW Boco Rock Wind Farm, comprising 67 wind turbines to be supplied by General Electric Co International Incorporated and its related subsidiaries, is about 160 km south of Canberra. The wind farm has entered into a 15 year power purchase agreement with EnergyAustralia Pty Ltd, with commercial operations expected to start in February 2015.

Sahust Pratuknukul, the company's president said the investment is in line with EGCO Group's strategic plan to seek new investment opportunities in Thailand and overseas. It is the company's first successful investment in Australia and is intended to help maintain the company's growth while offering long-term returns for shareholders.

SOLEIR forges lease agreement for $100m solar project in Australia
27 Jun 2013

Australian solar power company SOLEIR has forged a 30 year lease agreement for a $100m solar project at Molong in central New South Wales (NSW). As per the terms of the agreement, SOLEIR has secured a three year option over a 100 hectare site to house a 50MW photovoltaic (PV) solar power project.

With lease agreement in place, the company is seeking development consent with the NSW State Government along with a connection agreement with TransGrid. It expects to secure both of them to be over in the next few months.

SOLEIR is planning to raise funds to finance the project from a major financial institution. The solar company, acquired by exploration firm Red Sky earlier in November 2012, is currently working on its first renewable project, the Dubbo Solar One Project located in central NSW.

First solar module is scheduled for installation at Dubbo project over next two months. In addition, the company is also expecting to obtain regulatory approval and connection agreement within next two months.