The Week in Energy: Efforts Toward Going GreenBy Dalia Maria de León | Fri, 01/10/2020 - 15:15
Hidalgo and Sonora strengthen their position as flagships toward a greener future. The OECD highlights the importance of cooperation between the private sector and the government while the Energy Reform is revised. Meanwhile, Spain is willing to abandon “dirty” energy generation and global green bonds keep advancing.
Energized, yet? Here’s the Week in Energy!
OECD: “Reform processes never end; it is legitimate for the government to make changes to the energy reform.”
General Secretary of OECD, José Angel Gurria declared that the government is acting in a legitime way as it modifies the Energy Reform. Gurría’s main advice to energy companies is to keep an open dialogue with the government and to recognize that there was a change of administration and a new vision, which is why they will need time to adapt to that change.
EDF Renewables’ Solar Project Starts Commercial Activity in Sonora
EDF Renewables announced the inauguration of its Bluemex Power1 solar project, which was one of two projects awarded to the company during the second long-term auction in 2016. Located in Sonora, with a capacity of 119.6MW and a required investment of USD$110 million, this project created 900 jobs during its construction. Bluemex Power1 is already working and supplying energy.
Hidalgo Leads Renewable Energy Generation
Hidalgo is attracting investments from strong firms such as Atlas Renewable Energy and Enel Green Power that are planning projects in what seems to be Mexico's new renewable energy capital.
In December 2019, Atlas Renewable Energy inaugurated its first solar energy Project in Mexico: the Guajiro photovoltaic park. At the event, Minister of Economic Development of Hidalgo José Luis Romo confirmed the commitment that the local government has towards investment attraction and employment generation. Likewise, CEO of Enel Green Power Paolo Romannacci announced the Italian company is considering to invest of US$53 million in a solar project in Hidalgo.
Spain Abandons Coal
Spain announces the end of coal as a way to produce electricity due to its high levels of pollution and its strong contribution to climate change. In 2019, coal only represented 5 percent of the electricity generation in Spain, while its production dropped almost 70 percent compared to the previous year.
In December 27, 2019, Endesa submitted a formal request for the closure of the A Pontes and Litoral thermal power plants, which are planned to close in 2021. With this, just three thermoelectric plants remain in Spain, two of them located in Asturias and another one in Cadiz.
Diverxia Plans New Photovoltaic Investment in Spain
Spanish company Diverxia announced an investment of around US170 million in three photovoltaic parks in Granada (150MW) and one in Puertollano (50MW). The company created in 2006, and in which Grupo Alonso participates since 2007, has also made projects in other countries such as the UK, Italy and Mexico. However, its largest project outside Spain is located in Colombia, where it has achieved a capacity of 240MW.
Global Green Bonds Advanced 35 Percent in 2019
In 2019, global sales of green bonds totaled US$231 billion, more than 60 times as much as in 2013, according to the Climate Bonds Initiative, a UK-based nonprofit organization that aims to promote investment in climate change solutions. However, despite exceeding 2018’s record, the annual goal set at US$250 billion was not achieved.