Iberdrola has announced its first floating solar power plant project in France. The plant will be developed on the basin of the gravel pit of Bischwiller, in Alsace, with an installed production capacity of 25 MWp, producing about 27 GWh of green electricity per year. This project strengthens Iberdrola’s position in France in the production of green energy, in addition to its wind projects already in operation.
The signing of the intergovernmental agreement between Russia and Myanmar marks an important step towards the development of collaboration on the use of nuclear technologies. Thus, a strong impetus is given to the scientific development, higher and vocational education as well as the Burmese industrial sector.
Italy has declared its intention to use EU funds from the REPowerEU plan to wean itself off Russian gas completely and become an energy hub for the EU. With a total budget of €300 billion, the REPowerEU plan aims to end the EU’s dependence on Russian fossil fuels and combat the climate crisis.
The oil market reacted to increased demand in Turkey due to earthquakes and a recovery in Chinese demand. Brent and WTI prices rose by 2.30% and 2.46% respectively. This situation allows the oil industry to envisage a recovery that favors sustainable development.
The European Union is taking drastic measures to counter the Russian occupation of Ukraine by imposing a ban on Russian refined oil products, accompanied by price caps. Penalties will be applied if the cap level is exceeded.
Petronet LNG is looking to increase its LNG import quantity from 0.75 to 1 million tons per year. The company is looking to renew its long-term agreement with Qatar and link its LNG to global indices.
Siemens Energy announced Tuesday that its net loss for the first quarter more than doubled to 598 million euros. The loss is attributed in part to quality issues at Siemens Gamesa.
European elected officials are calling for the adoption of legislation banning new fossil fuel projects and for a non-proliferation treaty on fossil fuels, in order to limit the current climate risk.
The strike against pension reform led to a drop in electricity production of almost 4,500 MW in nuclear and coal-fired power plants. However, users should not suffer any power cuts, according to RTE.
BP on Tuesday reported a net loss of $2.5 billion for 2022, but profit excluding special items more than doubled to $27.7 billion thanks to high prices and growing demand. In order to increase its profits by 2030, BP plans to invest up to $18 billion, two-thirds of which will go to hydrocarbons.
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