Oct 29, 2014

Energy Deals to Watch for October 29, 2014

2 min
Gamesa signs agreement to supply 27 MW of PV inverters in the UK. The Spanish company signed a framework agreement to sup...

Gamesa signs agreement to supply 27 MW of PV inverters in the UK.

The Spanish company signed a framework agreement to supply 27.4 MW of PV inverters to British Solar Renewables. For this third agreement with the developer, Gamesa will ship 20 of its E-1.25 MW units. The company was pleased with the continued partnership.

Jinko Solar to supply 19 MW of modules for a PV project in Chile.

The Chinese solar company is set to supply the 61,000 panels for a project in Atacama Desert region. No further details on the project itself were released, though the company was still pleased will its progress in Chile.

"We are proud of what we have accomplished in Chile this year, having become the one of the largest suppliers of PV modules with more than 160MW of contracts signed," said JinkoSolar sales director for emerging markets Alberto Cuter. "The increase in demand for renewable energy has turned Chile into one of the region’s principal solar markets."

EDF and Amundi partner up in €1.5 billion deal.

French utility EDF and asset management company Amundi are teaming up in a €1.5 billion deal targeting renewable energy and efficiency projects.

The partnership will raise and manage funds from various investors that are intended to finance renewable energy projects involving wind, solar, and hydro. Both members of the partnership will bring their own various forms of expertise to the table.

“This partnership is part of Amundi’s strategy to design innovating investment solutions for its clients while addressing investment challenges faced by corporate,” Chief Executive Yves Perrier said.

“After our inaugural Green Bond issuance in November 2013, this partnership with Amundi demonstrates once again EDF’s ability to innovate for the benefit of energy transition financing,” added EDF Group’s Senior Executive Thomas Piquemal. 

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Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.

The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.

In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.

The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.

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