Nuclear Investment
The state-owned China Development Bank wants to become a significant backer of Britain’s major infrastructure projects, the BBC has learned. China Development Bank (CDB) is a wholly owned subsidiary of the Chinese government. The BBC understands that it wants to directly fund two project areas in the UK – High Speed 2 and the next generation of nuclear power stations. CDB has signed a memorandum of understanding with TheCityUK.
BBC 17th June 2014 read more »
Support for HS2 might be politically controversial, but many will argue that China’s nuclear aspirations raise even more serious issues. UK government sources have made it clear to me that although they support linking with China on new nuclear power stations, they are well aware of the security risks and political sensitivities. China is already a minority partner in EDF’s plans to build a new nuclear station at Hinkley Point and George Osborne made it clear during his visit to China last autumn that he wanted that relationship to go further. China wholly owning and operating new nuclear power stations has not been ruled out. This is not a one way street and backers of Chinese money coming into the UK point out that CDB and others are simply looking for sustainable returns rather than political influence.
BBC 17th June 2014 read more »
The UK and Chinese governments have signed a civil nuclear agreement that could be worth hundreds of millions of pounds to British companies over several years. A separate landmark agreement also confirms that Chinese companies could own and operate a Chinese designed nuclear power station, provided they meet the stringent requirements of the UK’s independent regulator. Investing in nuclear will both diversify the energy mixes of both countries while playing a role in tackling climate change. For the first time, the UK and Chinese governments have agreed a ground-breaking joint statement on climate change. This is part of broader work together to reduce emissions and enhance energy security, central to which will be achieving a global, legally binding, and ambitious climate change agreement in Paris in 2015.
DECC 17th June 2014 read more »
Joint Statement from Government of the People’s Republic of China & Government of the United Kingdom of Great Britain and Northern Ireland. Both sides welcomed the cooperation on civil nuclear energy and signing of a joint statement on civil nuclear power. Both sides welcomed Chinese and UK companies’ participation in civil energy projects in each other’s country. The UK welcomed Chinese investment and progressive participation in the construction of new build nuclear energy projects in the UK, and was open to Chinese companies leading the development of other nuclear power station site(s) in the UK and the potential deployment of Chinese reactor technology in the UK, subject to meeting the stringent requirements of the UK’s independent regulators. Both countries recognised that companies entering into the UK through partnership would be in the best position later to maximise the growing opportunities that will be on offer in the UK nuclear market. Both sides stand ready to work together to ensure the success of Hinkley Point as soon as possible. Both sides welcomed the signing of an agreement to collaborate further in the field of nuclear fuel supply-chain and agreed to work together to strengthen cooperation in areas including waste treatment and decommissioning.
FCO 17th June 2014 read more »
China is to be allowed to design, own and operate a new generation of nuclear power stations in Britain despite concerns about the implications for national security. A deal signed yesterday during a visit by China’s premier Li Keqiang will let Chinese state-owned nuclear firms control British power plants if they meet the requirements of regulators.
Daily Mail 18th June 2014 read more »
China has been given the chance to take a decisive stake in the next stage of Britain’s energy and transport infrastructure as Chinese companies won the right to own and operate a nuclear power station and to help build high-speed rail lines. The government moved to stem criticism of co-operation in the highly sensitive area of civil nuclear power by saying it is part of an overall agreement to tackle climate change. China and Britain also signed a joint statement on climate change. In a Guardian article, the energy and climate change secretary Ed Davey writes: “Given the boost to low carbon electricity, to energy security and to jobs, the Chinese interest in taking forward investment at Hinkley Point C – the UK’s first nuclear station in a generation – is hugely welcome.
Guardian 17th June 2014 read more »
Ed Davey: Much has been written about the nuclear agreements signed at the UK-China summit. Given the boost to low-carbon electricity, to energy security and to jobs, the Chinese interest in taking forward investment at Hinkley Point C, the UK’s first nuclear station in a generation – is hugely welcome. We have been developing an ever closer relationship with China on climate change for many years which has led to collaboration on carbon trading, offshore wind development, on low-carbon buildings, on nuclear energy, and on carbon capture and storage – to name just some of the ways in which we’re working together.
Guardian 17th June 2014 read more »
China has signalled its interest in investing in two of Britain’s biggest and most controversial infrastructure projects – High Speed 2 and new nuclear power stations – at trade talks led by David Cameron and Chinese premier, Li Keqiang, in London. Also at the talks, Rolls-Royce said it has agreed to co-operate more closely with China’s State Nuclear Power Technology Corporation on civil nuclear power. It is likely a direct investment in HS2 and new nuclear would be made through the China Development Bank Corporation, which is responsible for funding large-scale projects on behalf of the powerhouse economy. On Tuesday the bank signed a memorandum of understanding (MoU) with TheCityUK to “expand its financing and lending activity in the UK, including in infrastructure-related investment”. Another MoU was signed by the Department for Transport and its Chinese counterpart, the NDRC, committing the countries to “business co-operation in the rail sector”. And a third was signed between the Chinese Atomic Energy Authority, the Chinese National Nuclear Corporation and the Department of Energy on “nuclear fuel cycle supply chain collaboration”. China is already a minority partner in EDF’s plans to build a new nuclear station at Hinkley Point in Somerset.
Telegraph 17th June 2014 read more »
China could design and run the next generation of British nuclear power stations after a series of deals ushered in a new era of co-operation over energy and infrastructure. With the Chinese premier, Li Keqiang, on an official visit to Britain, ministers agreed to co-operate on several areas in nuclear power as part of a wider package of deals worth more than £14 billion. While increased nuclear co-operation could be worth hundreds of millions of pounds to British companies over the coming years, it will also raise concerns about security. The nuclear agreement builds on an announcement last October when ministers agreed to work together on the development of civil nuclear power and announced that Chinese companies would take a stake in a new nuclear station at Hinkley Point in Somerset. The new deals go further, setting out the desire for future co-operation on fuel cycle development, decommissioning of nuclear facilities and management of radioactive waste, along with research and training.
Times 18th June 2014 read more »
EDF secured government subsidies for the £14 billion European Pressurised Reactor project last October, and at the same time announced it had entered in to agreements with China General Nuclear Corporation and China National Nuclear Corporation (CNNC). The two firms would take equity stakes in Hinkley Point C amounting to a 30-40% share of plant ownership. Today’s civil nuclear agreement between the Department of Energy and Climate Change, the Nuclear Decommissioning Authority, the China Atomic Energy Authority and CNNC allows that deal to go ahead. Both governments have also agreed to better cooperation on the wider nuclear fuel supply chain cycle, by working together to develop and export innovative solutions in areas such as waste treatment and decommissioning.
Process Engineering 17th June 2014 read more »
Utility Week 17th June 2014 read more »
Rolls-Royce signed a memorandum of understanding with China-based SNPTC to collaborate on civil nuclear power projects in the UK and other markets. The companies will work together in such areas as engineering support, provision of components and supply chain management, according to Reuters. Rolls-Royce said it already services more than 70 percent of China’s running nuclear reactors as well as those being built.
Power Engineering 17th June 2014 read more »
Rolls-Royce has signed a memorandum of understanding (MoU) with SNPTC, the Chinese nuclear reactor vendor. The agreement will see Rolls-Royce cooperate more closely with SNPTC in the field of civil nuclear power, in the UK and other overseas markets. Jason Smith, Rolls-Royce, President Nuclear, said: “China represents one of the world’s largest civil nuclear markets in which Rolls-Royce has been supplying safety-critical technology and solutions for 20 years.
Investigate 17th June 2014 read more »
Money AM 17th June 2014 read more »
Interactive Investor 17th June 2014 read more »
Hinkley
A three-day visit to Britain by the Chinese premier Li Keqiang starting on Monday is expected to lead to nearly £18bn of deals being signed, including a deepening Chinese involvement in energy, nuclear power and other UK infrastructure. In his first visit to Britain since becoming prime minister last year, Li will also announce investment plans that George Osborne, chancellor, will argue show that London is going to be the world centre for renminbi trading. Chinese companies China National Nuclear Corporation (CNNC) and China General Nuclear Power Corporation (CGN) have already agreed in principle to be minority shareholders in the Hinkley Point project. So far only letters of intent have been signed by EDF Group, Areva, CGN and CNNC to become strategic and industrial partners in the project. The two Chinese companies were due to take a stake of between 30% and 40%, but that may yet increase. EDF Energy, which runs 15 nuclear power plants, has been working with CGN and CNNC for 15 years. CGN currently operates 8.3 gigawatts of nuclear power. It has eight units in operation and 15 under construction, including two reactors being built in a joint venture with EDF at Taishan. CNNC has nine units in operation and 12 under construction.
Guardian 15th June 2014 read more »
China will deepen its investment in the UK, with around £18bn of deals expected to be signed during a three-day visit by the premier, Li Keqiang, starting on Monday. The visit, involving 200 Chinese business leaders, is also expected to shed more light on its involvement in the UK’s first new nuclear power station in a generation, at Hinkley Point in Somerset. China National Nuclear Corporation (CNNC) and China General Nuclear Power Corporation (CGN) have already agreed in principle to be minority shareholders in the £16bn project.
Guardian 16th June 2014 read more »
Utilities
A record 1.7m complaints were lodged against the Big Six energy suppliers in the first half of the year, according to new figures. Most of the grievances, up 15pc on the same period last year, are due to innacurate charges after companies estimated customers’ electricity and gas usage instead of relying on meter readings. Npower faced the most complaints, according to the figures produced by Which?, with an average of just over 83 objections per 1,000 customers – a rise of 70pc year-on-year.
Telegraph 18th June 2014 read more »
Israel
The Israeli Supreme Court’s refusal to allow whistle-blower Mordechai Vanunu to travel abroad is an inexcusable attempt to continue to punish him for what he did nearly 30 years ago, said Amnesty International. The Court issued its decision at the same time as Mordechai Vanunu was expecting to travel to events he has been invited to in the UK.
Amnesty International 17th June 2014 read more »
Japan – Fukushima
TEPCO has said it is having trouble with the early stages of an ice wall being built under broken reactors to contain radioactive water. Tokyo Electric Power (Tepco) has begun digging the trenches for a huge network of pipes under the plant through which it intends to pass refrigerant. This will freeze the soil and form a physical barrier that is intended to prevent clean groundwater flowing down mountainsides from mixing with contaminated water underneath the leaking reactors. Tepco said on Tuesday that a smaller, inner ice wall whose pipes it sank earlier to contain the already-contaminated water was proving difficult. “We have yet to form the ice stopper because we can’t make the temperature low enough to freeze water,” a Tepco spokesman said.
Guardian 17th June 2014 read more »
Quebec – uranium
Strateco Resources has thrown in the towel at the Matoush uranium camp in Northern Quebec. Strateco has been sitting on the project since a moratorium and commission of inquiry on Quebec’s uranium industry dating back to March 2013. The Quebec-based company blames the decision to call it quits on Matoush on the Quebec government’s refusal to issue the final permit it needs to start advanced exploration at the project.
Uranium Investing News 16th June 2014 read more »
Iran
Iran and six world powers re-launched talks on Tuesday to rescue prospects for a deal on Tehran’s nuclear activity by a July deadline, striving to prevent a long-time standoff from descending into a wider Middle East war.With time running short if a risky extension of the nuclear talks is to be avoided, negotiators face formidable challenges to bridge gaps in positions over the future scope of Iran’s nuclear programme in less than five weeks.
Reuters 17th June 2014 read more »
Middle East Online 17th June 2014 read more »
Renewable Heat
In the light of increasing fuel bills and drastic impacts of climate change, which are likely to affect most of us in some way during our lifetimes, we need innovative approaches to create a more secure, cost-effective and sustainable heat and power supply. The new waste-to-resource scheme was announced to utilise the excess heat generated by London’s Underground trains and warm homes in the Islington district. The Islington project is claimed to be the first of its kind in Europe. It is a joint venture developed by Islington Council, London Mayor Boris Johnson, UK Power Networks and Transport for London. The project is a part of an ongoing initiative to harness secondary heat in the city and is run through Islington Council’s innovative Bunhill Heat and Power heat network which already generates cheaper and greener energy for 700 homes in Islington.
Sustainable Homes 16th June 2014 read more »
Renewable Farming
Scottish food and drink firms who power their business through renewable energy will be featured at this year’s Royal Highland Show. The “Made in Scotland from Renewables” highlights companies who use green energy to produce their products. Organisers said the 12 firms show the benefits in investing in renewable energy.
BBC 17th June 2014 read more »
Renewables – offshore wind
One of the world’s largest offshore wind farms is set to be built off the coast of East Anglia, after the government today gave the go-ahead to the proposed East Anglia One development, predicting the project will drive over £520m of investment and create almost 2,900 jobs. Construction work on the 1.2GW project, which is to be developed by a 50:50 joint venture between ScottishPower Renewables and Vattenfall, is expected to start in 2017, subject to a final investment decision.
Business Green 17th June 2014 read more »
An offshore windfarm which could become one of the largest in the world has been given the green light by the UK government. Development of the East Anglia One windfarm, off the coast of Suffolk, will involve the installation of up to 240 turbines and, once built, will generate enough electricity to power around 820,000 homes. The scheme is expected to support almost 2,900 jobs during construction and operation and bring more than £520 million of investment into the UK economy, the Department of Energy and Climate Change (Decc) said.
Guardian 17th June 2014 read more »
Renewables – community solar
Solar developer Solarcentury has moved into the expanding market for community-owned solar farms, inking a deal with Hampshire’s first solar co-operative. The company announced yesterday that it has been selected to build a new 2.4MW solar farm by the West Solent Solar Cooperative, which has brought together investments from around 500 people to fund the project. The new development is to be located at a brownfield site at a restored gravel pit and is expected to provide clean power for nearly 600 homes in the Pennington and Lymington area.
Business Green 17th June 2014 read more »
Energy Efficiency
Ministers from seven European Union countries urged the bloc’s executive to propose a binding energy savings target next month, a sign of how Ukraine’s gas crisis is forcing lawmakers to find more ways of easing EU dependence on Russian gas. Environment and energy ministers from Germany, Belgium, Denmark, Greece, Ireland, Luxembourg and Portugal said the crisis in Ukraine, which transits around half the gas Russia sends to Europe, has highlighted the EU’s reliance on imports. “A target is essential to highlight the importance of energy efficiency, and a strong political commitment is crucial,” the ministers said told European Commission President Jose Manuel Barroso in a joint letter seen by Reuters. “The current situation in Ukraine emphasises the importance of reducing dependence on imported oil and natural gas.” The ministers said the Commission’s proposal should reflect its January impact assessment on the EU’s 2030 energy and environment goals as well as the European Parliament’s proposal for an energy efficiency target.
Reuters 17th June 2014 read more »
Fossil Fuels
Use of coal for power generation and other purposes grew by 3% in 2013 – faster than any other fossil fuel. Coal has reached its highest market share of global energy consumption for more than 40 years, figures reveal, despite fears that its high carbon emissions make it a prime cause of climate change. The use of coal for power generation and other purposes grew by 3% in 2013 – faster than any other fossil fuel – while its share of the market breached 30% for the first time since 1970, the BP Statistical Review reports. The figures were published as Prof Nick Stern, author of the influential climate change report the Stern Review, said his latest research indicated the economic risks of unchecked climate change were bigger than previously estimated.
Edie 17th June 2014 read more »
Europe’s green fields are becoming dotted with wind turbines, North American cars are chugging biogas rather than oil, and China’s rooftops are ever more adorned with solar panels. Everywhere, there are signs that the world is undergoing a clean energy revolution. But for all politicians’ talk of the “promise of clean energy”, new data shows the world is still heavily reliant on fossil fuels. While countries are taking tentative steps down a path to a low carbon energy sector, BP’s annual statistical review shows just how long that road could be. We take a look at some of the potential obstacles ahead.
Carbon Brief 17th June 2014 read more »
Rising sea levels, extremes of weather and an increase in the frequency of droughts and floods will all play havoc with the world’s energy systems as climate change takes hold, a new report has found. Energy companies are more often cited as part of the problem of climate change, generating the lion’s share of the world’s greenhouse gas emissions, amounting to around 40% of the total. But they will also suffer as global warming picks up pace, as generators – from nuclear reactors to coal-fired power plants – feel the brunt of the weather changes. Many large plants are particularly at risk from droughts, because they need water to cool their facilities, and floods, because they lack protection from sudden storms. Electricity distribution networks are also likely to be affected.
Guardian 18th June 2014 read more »
If the Iraq Crisis tells us anything, it’s that we live in a world utterly dominated by fossil fuels. If ever you are tempted to doubt that, consider everything that’s happening at the moment. Russia has cut off gas supplies to Ukraine, and Germany is pushing the European Union to reduce the region’s dependence on Russian gas. Our Prime Minister has just proudly announced a deal whereby BP and Shell will supply liquefied natural gas to China – the centrepiece of his meetings with the Chinese PM Li Keqiang. Unless I am unduly cynical, one of the reasons why Iran has become our new best friend is that the West would quite like its help to preserve the oil output of Iraq, as well as smoothing the path towards open market access for Iran’s own supplies. Then consider this about coal, the least fashionable of the fossil fuels. Last year consumption grew by 3 per cent, making it faster-growing than both gas and oil. Its share of total primary energy production was 30.1 per cent, the highest since 1970.
Independent 17th June 2014 read more »
Since the onset of the fracking boom almost a decade ago, every state in the US has been examining its geological resources in the hope of finding oil or gas it can access through this extraction method. Almost half the states are now producing at least some shale gas, with a few – Texas, Pennsylvania, California, Colorado, North Dakota – sitting on massive deposits. Nearly half a million wells in the US were producing shale gas in 2012. But while many countries now seek to bolster their economies by following the American lead in exploiting this controversial new source of fossil fuels, campaigners in the US are warning of serious collateral damage to the environment: the depletion and contamination of vital water supplies.
Climate News Network 18th June 2014 read more »
