Head Lines

Mission E: Porsche’s First Fully Electric Sports Car Is Named Taycan

Europe/Middle East/Africa, Head Lines, Technology

Porsche have announced that series production of its first purely electric vehicle is set to begin next year. The “Mission E” concept study, the name currently used to describe Porsche’s complete electric offering, will be known as the Taycan. Two permanently excited synchronous motors (PSM) with a system output of over 600 hp (440 kW) accelerate the electric sports car to 100 km/h in well under 3.5 seconds and to 200 km/h in under twelve seconds. This performance is in addition to a continuous power level that is unprecedented among electric vehicles.

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Major Wins For Solar As EU Increases Renewable Energy Target

Europe/Middle East/Africa, Head Lines, Policy, Solar

The European Parliament, European Council and European Commission have agreed to a binding 32% EU renewable energy target for 2030, up from the original proposal of 27%. James Watson, CEO SolarPower Europe commented ‘The deal is a good one for solar. We see a much more ambitious target than was expected just a few months ago and importantly we have a strong framework for self-consumption and prosumers. Households wake up this morning with the knowledge that they will have a new right – the right to self-generate, consume and store the energy they produce. This is a major achievement.

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Chinese Solar Surge Fuels Overall Global Growth In Clean Energy Investment

Deals & Finance, Energy, Head Lines, Region

World clean energy investment totalled $333.5 billion last year, up 3% from 2016 and the second highest annual figure ever, taking cumulative investment since 2010 to $2.5 trillion. An extraordinary boom in photovoltaic installations made 2017 a record year for China’s investment in clean energy. This outpaced changes elsewhere, including jumps in investment in Australia and Mexico, and declines in Japan, the U.K. and Germany. The figures up 3% from a revised $324.6 billion in 2016, and only 7% short of the record figure of $360.3 billion, in 2015.

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Vestas Sets 10.6 GW Record In 2017 After Year-End Surge; Ups Cashflow Guidance

Americas, Deals & Finance, Head Lines, Wind

Vestas has received a firm and unconditional order for 190 MW of 4 MW platform turbines in the U.S. taking the global order intake for the company in 2017 to 10.6 GW, surpassing 2016’s record order intake of 10.5 GW. The surge of orders at the end of the year has resulted in the company revising its guidance for free cashflow upwards. It now expects the free cashflow for 2017 to be €1.15bn-€1.25bn, as compared with the previous guidance of €450m-€900m. Markets have reacted favourably with the company share price experiencing an increase of 5%.

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Volkswagen Strongly Commits To E-Mobility And Digitalisation, Investing €34 Bn

Europe/Middle East/Africa, Head Lines, Technology

The Volkswagen Group has made a major announcement regarding its strategic goals until 2025. By the end of 2022: more than €34 billion is planned for the development of e-mobility, autonomous driving, new mobility services and digitalisation. Financial markets reacted positively to the Group’s strategic focus and Volkswagen’s share price were back at the pre-crisis levels. CEO Matthias Müller stated “We are reinventing the car. To achieve that, we are making targeted investments to provide the necessary funds from our own resources.” The Group has said it would electrify its entire model portfolio by 2030.

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Beyond Petroleum. BP Returns To Solar; Following Shell, Total Into Clean Energy

Deals & Finance, Europe/Middle East/Africa, Head Lines, Solar

BP and Lightsource have announced a strategic partnership combining BP’s global scale with Lightsource’s solar expertise. BP will acquire 43% equity share in Lightsource for $200 million, with the majority of the investment funding Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP. BP is not alone in moving away from oil and gas and towards clean energy. Anglo-Dutch Shell is purchasing electric car infrastructure companies, France’s Total is acquiring battery storage firms and Norway’s Statoil is pioneering floating wind farms.

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Vestas Strengthens In India. Wins 250 MW Wind Project: Its Largest Order To Date

Asia Pacific, Deals & Finance, Head Lines, Wind

Vestas’ has just gained strength in a strategically significant market for the company. Its extensive experience from around 4 GW of turnkey projects across the globe has secured its largest project in India to date. The record order was placed by Ostro Kutch Power Private Limited and awarded through India’s first wind power auction held in February 2017. The 250 MW turnkey order follows another 100 MW turnkey project in India earlier this year, taking the total order intake in India to more than 480 MW in 2017. The project starts in the third quarter of 2018, and includes delivery, installation, commissioning and servicing of the 125 turbines.

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EDF Commissions 179 MW At Two Solar Power Plants In Nevada

Americas, Deals & Finance, Head Lines, Solar

Policy makers led by US Senator Harry Reid were present at a celebration formally recognising Switch Stations 1 and 2 solar power plants, with a combined generation capacity of 179 MWac, as fully commissioned and in commercial operation. Senator Reid stated “Less than a decade ago, Nevada’s solar energy landscape was nonexistent, but this commissioning helps fulfil the vision I had to make our state the leader in renewable energy development. A technology giant like Switch committing to using 100% renewable energy is truly visionary and grows our clean energy economy by creating hundreds of good-paying construction jobs here.”

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Renewable Future Challenges UK And Germany To Build Flexibility In Power Systems

Efficiency, Energy, Europe/Middle East/Africa, Head Lines, Policy

A new economic study highlights that future energy systems in the UK and Germany, with very high levels of variable renewable generation, must be complemented by flexible resources, including energy storage. The study was released by Bloomberg New Energy Finance (BNEF). “This study highlights a seismic shift in how power systems will operate in the future. As wind and solar become the cheapest options for power generation, the race is on to develop and deploy the flexible resources that will complement them,” said Albert Cheung, head of global analysis at Bloomberg New Energy Finance.

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Google Leads The Way In Purchasing Clean Energy; Signs 196 MW PPA With Avangrid

Americas, Deals & Finance, Head Lines, Wind

Google has reached power purchasing agreements with Avangrid Renewables for 196 MW of wind power. The agreements cover two wind farms, producing enough energy each year to power 50,000 households. The additional capacity helps Google reach its goal of purchasing enough renewable energy to match its energy use in global operations. Gary Demasi, Google’s director of global infrastructure stated: “with solar and wind declining dramatically in cost and propelling significant employment growth, the transition to clean energy is driving unprecedented economic opportunity and doing so faster than we ever anticipated.”

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