CFE to Benefit from Natural Gas SurplusBy Cas Biekmann | Thu, 11/12/2020 - 16:29
State-owned CFE is gearing up to make good use of its natural gas surplus through various potential means. Chinese solar player Ginlong Solis brings its storage portfolio to Mexico. In other news, Braskem makes work of its carbon neutrality plans and EnerAB signs a PPA. Internationally, global renewable capacity will keep growing despite the pandemic and Spanish giant Iberdrola aims to ramp up renewable investments in Europe and the US.
Ready for more? Read your weekly energy roundup!
CFE Plans to Take Advantage of Natural Gas Surplus
Mexico’s state-owned energy utility CFE will sell surplus natural gas to private players through a new subsidiary formed by CFE’s CFEnergía arm, reports BNAmericas. Other efforts to turn the surplus into a boon include launching bids to build new power producing plants and to allow exports after liquefaction. By taking such actions, CFE aims to benefit from the natural gas it is already contractually obligated to purchase from third parties but that it cannot use in its own power plants. The Mexican industry and natural gas liquefaction plants are likely candidates to purchase the gas.
Ginlong Solis Offers Solar Energy Storage to Mexican SMEs
The Chinese company Ginlong Solis partnered with Mexican firm Exel Solar to promote the storage of solar energy among SMEs and the residential sector in Mexico and other Latin-American countries, in order to improve productivity and reduce energy costs.
Ginlong Solis, a Chinese company that focuses on solar inverters, has already introduced most of its portfolio to the Mexican market. Currently, the company’s plans are set to expand and it hopes to raise US$100 million to bolster its manufacturing capacity, storage projects and supply the energy network worldwide.
EnerAB and ACS Sign Wind Supply Agreement
EnerAB’s qualified supplier arm signed an agreement with ACS International, a manufacturer of filters for air bags and exhaust systems for the automotive industry. Through the PPA, it will supply around 50GWh of wind energy per year, reported Energía a Debate. The energy will come from the 306MW Mesa La Paz wind farm located in Taumaulipas.
Braskem Will Be Carbon Neutral
Braskem, a key producer of thermoplastics and biopolymers, announced it would increase its efforts to become a carbon neutral company by 2050. The company's strategy will focus on three areas: firstly, reducing emissions with a focus on energy efficiency, increasing the use of renewable energy in current operations and establishing alliances for innovation and technology. Secondly, offsetting emissions with investment in the production of chemicals and polymers of renewable origin and thirdly capturing carbon emissions for use as a raw material.
Global Renewable Capacity to Grow in 2020 Despite Pandemic: IEA
The International Energy Agency (IEA) predicted earlier this year that renewable energy development would be affected by the pandemic, but it would not stop entirely. Half a year later, the agency reports that renewable energy might even be more resilient than expected due to demand in the electricity sector. Renewable energy to generate electricity will grow by 7 percent. Furthermore, net installed renewable capacity will grow by nearly 4 percent globally in 2020, close to 200GW, as the US and China ramp up their energy transition.
Iberdrola Aims to Build 90GW of Renewable Energy by 2030
Spanish utility giant Iberdrola released a US$89 billion investment plan for renewable energy, leading up to 2025. Half of these funds will be focused on Spain, the US and the UK. This increases annual investments by almost US$12 billion, GreenTech Media reported.