CO2 Market Hurt by Russia, Australia Policy, Says World Bank

Posted on May 29th, 2014 by
   

CO2 Market Hurt by Russia, Australia Policy, Says World Bank

Efforts to put a value on greenhouse-gas emissions to contain global warming are being hurt as countries such as Russia, Australia and Japan pull back from carbon-reduction commitments, says the World Bank. Greenhouse gas emissions covered by pricing mechanisms such as levies and trading programs may fall to 12 percent from 18 percent if countries including Kazakhstan and Ukraine do not ratify an extension of the 1997 Kyoto climate agreement, adds the World Bank. Russia, New Zealand and Japan had already renounced the said pact’s second commitment period covering eight years through 2020.

Wind Power Decree Annulled by French Court

France’s highest administrative court has annulled the decree setting wind power feed-in tariffs, marking the end of a complicated legal procedure that has choked investment in France’s onshore wind sector since 2011. The decision is retroactive says SER wind specialist Marion Lettry. But existing wind farm owners will not have to reimburse the aid received under the now illegal decree, Lettry adds.  Un-connected wind farms will have to wait a few weeks before being added to the grid, until the new decree is promulgated around end-June, after a review by French energy regulator CRE.

Solar Manufacturer Shunfeng Wants To Become Solar Power Plant Developer Too

Shunfeng Photovoltaic International Ltd., the new owner of what was once the world’s largest solar manufacturer, is looking to issue HK$6 billion ($774 million) of shares to build solar power plants. Shunfeng is planning to sell as many as 600 million new shares at not less than HK$10 per share. The company also has plans to change its name to Sunfu International Lt. The name change as well as the share offering reflects the company’s expansion from a manufacturer into a power producer.

Construction Begins On 100 MW of New Solar Power Plants in Chile

Construction has now started on the 60 MW Lalackama solar PV power plant and the 40 MW Chañares solar PV power plant in Chile’s northern region. Construction of the $180 million projects are handled by Italy-based Enel Green Power. Once finished, they will produce around 254 gigawatt-hours of electricity annually – enough to provide electricity to 143,000 households. Both projects have power supply contracts to sell power on the regulated market vi a November tender auction held by Chile’s Central Interconnected System.

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