RWE

This week, Russia joined forces with the United Arab Emirates to develop common hydrogen projects and similar moves were made by Chile and South Korea, Japan and Australia, as well as by France and Germany. French President Emmanuel Macron announced €2 billion in new investments.

According to media reports, the separation from the photovoltaic project developer is said to be part of the energy company’s plans to streamline its renewables business.

It’s official. After 18 months or so of negotiations, electric companies in Germany and Greece last night inked a deal to confirm RWE’s entry into the Greek power market. Initially, the arrangement concerns 2 GW of new PV generation capacity to be built in former lignite mines, however the deal may later expand to include additional power projects.

Around 500 open-pit lakes left behind as a legacy of Germany’s open-cast lignite mining industry could potentially host more than 50 GW of solar generation capacity. With that in mind, the Federal Ministry for Economic Affairs and Energy is financing a three-year study into the technology’s revenue potential.

German utility RWE will sell solar electricity to the German conglomerate under a 16-year power purchase agreement. The electricity will be generated by a 50 MW solar plant in southern Germany. Bosch has also sealed power supply deals with Statkraft and Vattenfall.

An assessment of the human rights performance of the world’s leading solar and wind power companies has painted a grim state of affairs, with the only dedicated solar manufacturer analyzed scoring 7%.

Dutch gas and power provider Essent has agreed to buy the Amsterdam-based renewables marketplace for an undisclosed sum. Vandebron sells electricity aggregated from wind, solar and biomass projects.

The energy transition is becoming ever more apparent among power companies, as was evident at the European Utility Week event last week in Paris, which showcased the hopes and fears of energy companies. Rebranding next year to ‘Enlit’, the organizers aim to reach the whole energy industry.

Economic thinktank Carbon Tracker used financial modeling to determine the profitability of every coal power plant in the EU. On average, 79% of the facilities run at a loss, with Germany, Spain and Czechia among the states particularly exposed to the consequences – for coal investors and the public.

It took a while, but now the energy giants can finalize the mega deal. Rival energy companies have criticized approval of the deal amid fears Eon could dominate the German market.