CHINA GD POWER SAYS TO INVEST IN $3 BLN HYDROPOWER PLANT
SHANGHAI, Nov 30 (Reuters) - China GD Power Development's majority-owned subsidiary will invest in a 19.26 billion yuan ($3 billion) hydropower project, the firm said in a statement on Wednesday.
GD Power, a unit of state-owned Guodian Corp, said investment in the Houziyan hydropower project would be made via Dadu River Hydropower Development Co Ltd, in which it has a 69 percent stake.
SPAIN HYDRO RESERVES DOWN, IRRIGATION STOCKS UP
Madrid, Nov 29 (Reuters) - - Spain had less water than a week ago to generate hydropower and ease its hefty dependence on gas imports but irrigation reserves rose in what is also a major grain buying country, according to the latest official data on Tuesday.
Hydropower reservoirs had the capacity to produce 11,460 gigawatt-hours, down 51 GWh on the week, according to the Ministry for the Environment and Rural Affairs.
GRID CONNECTION KEY TO OFFSHORE WIND GROWTH - EWEA
AMSTERDAM, Nov 29 (Reuters) - Funds for the offshore wind sector, mainly to cover the cost of connecting turbines to the grid, is vital to developing an industry that could meet a substantial part of Europe's energy needs and create nearly 170,000 jobs by 2020, a new study said.
More than 141 gigawatts of offshore wind energy capacity is built, under construction, agreed to, or planned in Europe, according to The European Wind Energy Association (EWEA) study, published on Tuesday. Once completed by 2030, these wind farms will provide 13.1 percent of Europe's total electricity.
CHINA SOLAR EXECS SAY AIM TO AVOID TRADE WAR WITH U.S.
BEIJING, Nov 29 (Reuters) - Heads of China's solar industry on Tuesday said they strongly oppose an investigation by the U.S. into Chinese-made solar panels and asserted that competitive advantages alone explained their success on the global market.
However, in a statement from the China Chamber of Commerce for the Import and Export of Machinery and Electronic Products (CCCME), which represents the solar industry, they added that the firms did not intend to start a trade war with the U.S. industry.
REC TO CUT SOLAR OUTPUT, WARNS OF FURTHER CUTS
OSLO, Nov 29 (Reuters) - Norwegian solar firm Renewable Energy Corp plans to cut output further as global economic turbulence depresses demand and prices, and predicted industry-wide consolidation as the sector makes a difficult adjustment to lower demand.
REC shares dropped 7.8 percent to 3.693 euros by 0822 GMT, having dropped as low as 3.66, equalling a record low set last week and a fraction of a peak of 224 set in 2007.
JAPAN'S KANSAI ELECTRIC TO BUILD 2 SOLAR PLANTS
TOKYO, Nov 28 (Reuters) - Japanese utility Kansai Electric Power Co said it has decided to build two solar power plants in Fukui prefecture in western Japan, with total capacity of 1 megawatt, by March 2015.
The plants, each with capacity of 500 kilowatts, are projected to generate a total 1 million kilowatt-hours of electricity a year, equivalent to reducing 300 tonnes annually of carbon dioxide emissions, the Osaka-based Kansai Electric said in a statement.
DENMARK AIMS FOR 100 PCT RENEWABLE ENERGY IN 2050
COPENHAGEN, Nov 25 (Reuters) - Danish government proposals on Friday called for sourcing just over half of its electricity from wind turbines by 2020 and all of its energy from renewable sources in 2050.
The government also invited the parties in parliament to negotiations on the proposal to shape energy policy to 2020.
UK LAUNCHES GREEN HEATING SCHEME AFTER 2-MONTH DELAY
LONDON, Nov 25 (Reuters) - Britain will on Monday open the world's first subsidy scheme designed to support the use of renewable energy sources for heating, two months later than its initial start date after the European Commission requested a rate change.
State aid for large-scale biomass heating schemes were slashed by 62 percent to one pence per kilowatt-hour (kWh) after the Commission's competition directorate objected to the initial rate which it deemed too high.
PANASONIC PLANS $580 MLN SOLAR CELL PLANT IN MALAYSIA
TOKYO, Nov 25 (Reuters) - Panasonic Corp said on Friday it will invest $580 million to build a solar cell plant in Malaysia, starting up its first such factory overseas as strength in the yen makes domestic production more expensive.
The Malaysia plant will start production in December 2012 and will have annual production capacity of 300 megawatts, boosting Panasonic's solar output capacity by 50 percent to about 900 megawatts.
IVORY COAST TO BUILD HYDRO DAM, BOOST CAPACITY
ABIDJAN, Nov 24 (Reuters) - Ivory Coast will build a 275-megawatt hydroelectric station power in the west in the next four years, part of plans to increase the country's capacity by 150 MW a year for the next 10 years, the ministry of mines has said.
Speaking late on Wednesday during a two-day meeting of West African power sector officials, mines and energy cabinet director Noel Guetat said the aim was to have more power available for exporting around the region.
AFDB PLEDGES $498 MLN TO MOROCCAN RENEWABLES PLAN
RABAT, Nov 23 (Reuters) - The African Development Bank (AfDB) on Wednesday said it was close to approving 373 million euros ($498 million) in financing for renewable energy in Morocco, which has embarked on one of the world's most ambitious solar energy developments.
The financing is in the course of being finalised, AfDB said in a statement, noting that it expects its board to vet it before the end of 2011.
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