Brazilian energy company EDP Brazil has agreed to sell Victory Hill Global Sustainable Energy Opportunities (GSEO) its Mascarenhas hydropower plant. The 198 MW hydropower project will be sold by the firm for $235 million. The run-of-river asset Mascarenhas, which is situated in the Brazilian state of Esprito Santo, has been in use since 1974.
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Bechtel, a US-based engineering firm, has been awarded a contract by BE Power and GE Renewable Energy, a division of General Electric, to provide planning support for a pumped storage hydropower facility in Australia. The Big-T hydropower project is located in south-east Queensland at Lake Cressbrook. It consists of a 400 MW pumped hydro energy storage facility and a 200 MW battery energy storage facility.
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As of 2020-21, Nepal’s total installed capacity stands at 1,451.34 MW, having grown at a compound annual growth rate (CAGR) of 11 per cent from 855.88 MW in 2015-16. This includes both independent power projects (IPPs) and NEA projects. Of the total installed capacity, hydro accounts for the largest share of 96.23 per cent, followed by thermal with 3.68 per cent and solar with the remaining 0.09 per cent.
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The cost declines seen in 2021 may not be repeated for solar PV and wind power in 2022, as supply chain constraints have been having an impact since late 2020, while commodity price rises accelerated in late 2021. These two factors saw equipment prices increase after experiencing lows in the first half of 2020, when the pandemic first took hold. Yet, the impact of these factors on projects commissioned in 2021 was not enough to raise the full year weighted average LCOE in many individual markets, nor at a global level.
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Governments in South Asia have been committing more towards renewable energy in their national policy targets, but further efforts are required to develop the enabling policies, institutions and market to attract more investments. Covid-19 stimulus packages for the energy sector should not only be centred around clean energy but also be accompanied by market mechanisms that would incentivise investors and unpack the technological potential of integrating more renewable energy into the grid.
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We have recently revised up our hydro-electric pumped storage generation and capacity forecasts for Mainland China, following positive developments in the sector. Mainland China is the top-performing market in Asia for pumped storage, with a total of 36.4GW of capacity as of end-2021. Over the coming years, we expect Mainland China’s hydro-electric pumped storage capacity to expand rapidly. In September 2021, the National Energy Administration (NEA) announced that it aims for hydro-electric pumped storage capacity to reach 62.0GW in 2025 and 120.0GW in 2030.
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Masdar, a UAE-based renewable energy company and the Ministry of Energy of the Kyrgyz Republic have signed a MoU to explore up to 1 GW of renewable energy opportunities in Kyrgyzstan. Under the agreement, Masdar plans to explore and invest in a wide range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV, and hydropower projects.
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At the end of 2021, global renewable generation capacity amounted to 3,064 GW. Hydropower accounted for the largest share of the global total, with a capacity of 1,230 GW. Solar and wind energy accounted for equal shares of the remainder, with capacities of 849 GW and 825 GW respectively. Other renewables included 143 GW of bioenergy and 16 GW of geothermal, plus 524 MW of marine energy.
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Hydropower projects in Asia face significant headwinds arising from environmental and social opposition, alongside financing hurdles. Hydropower projects have consistently been facing opposition stemming from environmentalists and local communities, as damming of rivers has implications for the ecology and livelihood of people around the rivers. In addition to environmental and social opposition, financing of hydropower projects remains limited, given the high capital required and long construction times before electricity is generated and sold.
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The MRC Council recently approved the Sustainable Hydropower Development Strategy 2021 for the LMB, one of the key deliverables of the previous Basin Development Strategy and the MRC Strategic Plan 2016- 2020, to address the sustainability of hydropower developments. The strategy represents a significant step forward in moving the basin towards optimal, safe and responsible outcomes that address interdependencies between environmental protection and water, food and hydropower production.
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Floating solar could be a valuable tool to help African nations expand their power infrastructure sustainably, according to a new study and an energy expert. If panels covered 1% of reservoirs, this alone could double African hydropower capacity and increase electricity generation from dams by 50%. But unknowns remain, such as the impacts on water quality and technical challenges including the impact of bird fouling and corrosion.
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We expect hydropower capacity in Myanmar to have a weakened growth over the coming years, due to uncertain prospects of projects, investors withdrawing from the market and continuous protests from locals and environmental activists. Despite uncertain prospects for new hydropower projects, we forecast hydropower generation to surpass thermal generation, following announcements of gas power plants reducing operations.
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Eranove, a French industrial conglomerate, and the Gabonese Fund for Strategic Investments (FGIS) have decided to raise €300 million. The Ngoulmendjim dam and a 82 MW hydroelectric plant will be built using this funding.
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Iniziative Bresciane S.p.A. (INBRE) will receive $55.6 million from the European Investment Bank (EIB) to improve and rebuild 13 river weirs and install 12 small run-of-river hydroelectric plants on the Arno River in Tuscany, Italy.
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The central purpose of this report is to guide policy making at all levels to facilitate effective cross-border integration of electricity markets to the benefit of Tajikistan as well as the region. This report can serve as a roadmap to support the Tajikistan’s National Development Strategy for 2030, which includes goals to export at least 10 TWh of its hydropower generation and to undertake reforms to improve the performance and sustainability of its power sector.
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The world’s reportedly largest hydro-floating solar hybrid project, built by EGAT at Sirindhorn Dam has begun commercial operation. The 45 MW Hydro-Floating Solar Hybrid Project at Sirindhorn Dam in Ubon Ratchathani Province began commercial operation on October 31, 2021. It will also become a new tourism attraction for the province of Ubon Ratchathani, Thailand in early 2022.
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Tanzania will become a net exporter of electricity over the near-medium term as its power generation will grow rapidly following the completion of the 2.1GW JNHPP in 2023. The completion of the Kafue Gorge Lower hydroelectric project will also make Zambia a net exporter of electricity through the medium term, boosting access to electricity and driving up overall consumption.
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Pumped storage hydropower (PSH) operates by storing electricity in the form of gravitational potential energy through pumping water from a lower to an upper reservoir. First built since the end of the 19th century, PSH is a mature and proven technology for long-duration energy storage. It has continuously evolved to suit the needs of changing power systems, providing a suite of power systems flexibility services such as inertia, frequency control, voltage regulation, and black-start capability, which are vital to support the growing shares of variable renewable energy in grid systems.
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The Ministry of Energy and Mineral Resources in Indonesia has been awarded a $380 million loan by the World Bank, for the construction of the 1 GW Upper Cisokan Pumped Storage Hydropower Plant in Indonesia. The project has been under development since 1986 and entails a cost of $800 million.
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Enel has agreed to pay the Italian renewable energy business ERG $1.19 billion for hydroelectric assets. It announced the acquisition of a 527 MW portfolio of assets from ERG, generating an average of 1.5 terrawatt hours of power per year.
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