The Anonymous Widower

SSE Renewables Completes Acquisition Of European Renewable Energy Development Platform

The title of this post, is the same as that of this press release from SSE.

This paragraph introduces the deal.

SSE Renewables has completed the transaction with Siemens Gamesa Renewable Energy (SGRE) to acquire its existing European renewable energy development platform for a consideration of €580m.

I have a few thoughts.

Why Have Siemens Gamesa Sold Their European Renewable Energy Development Platform?

This article on Renewables Now is entitled Siemens Gamesa Wraps Up Sale Of 3.9-GW Wind Portfolio To SSE Renewables, gives a reason.

For the turbine maker, the sale represents one of the measures implemented to rein in profit losses quarter after quarter due to internal challenges, high costs and supply chain issues.

As with many things, it appears to be all about the money.

Can SSE Renewables Afford It?

Consider.

SSE seem to have found a Scottish magic money tree.

€580m is just small change.

What Projects Are Included In The Deal?

This is a paragraph from the press release.

The SGRE portfolio includes c.3.8GW of onshore wind development projects – around half of which is located in Spain with the remainder across France, Italy and Greece – with scope for up to 1.4GW of additional co-located solar development opportunities. Development of the portfolio of projects has continued to progress since the acquisition was announced in April, with additional opportunities identified and permits and grid connections advancing. Over 2GW of the total pipeline is considered to be at a secured stage, where a grid connection or land agreement has been secured or relevant permits granted.

Note.

  1. As an engineer, I note that there is no offshore wind, which surely is the renewable energy development with most risk and installation costs.
  2. SSE Renewables have a lot of experience of onshore wind, so delivering and financing the extra 3.8 GW, shouldn’t be a problem.
  3. The 1.4 GW of solar comes with the word co-located. Wind and solar together, perhaps with a battery must surely be a good investment in the sunnier climes of Europe.

It doesn’t look to me that SSE Renewables have bought a load of assets that no-one wants.

I do wonder thought, if Siemens Gamesa were having trouble progressing this large diverse portfolio of projects, due to a shortage of resources like money and engineers.

So are SSE finishing off a few projects and they can transfer a few engineers to these projects?

Are SSE Spreading The Risk?

SSE operate mainly in the UK and Ireland, so is adding Spain, France, Italy and Greece a good idea?

Of the four new countries, it’s unlikely that all will perform well, but a mixed portfolio is usually a good idea.

Will SSE Renewables  Buy Siemens Gamesa Turbines In The Future?

SSE Renewables seem to do an individual deal on each wind farm, as no one manufacturer dominates.

But now Siemens Gamesa may be more financially stable, perhaps they can get a better deal for the turbines they want.

Conclusion

I don’t think SSE Renewables have done a bad deal.

 

 

September 5, 2022 Posted by | Energy | , , , , , , , , | Leave a comment

The EuroAfrica Interconnector

The Wikipedia entry for the EuroAfrica Interconnector, introduces the project like this.

EuroAfrica Interconnector is a HVDC interconnector and submarine power cable between the Greek, Cypriot, and Egypt power grids.

The Wikipedia entry has a section called Technical Data, where this is said.

The EuroAfrica Interconnector will link Egypt with the Cypriot and Greek power grids through the island of Crete, with a high-voltage direct current submarine power cable of length around 1,396-kilometre (867 mi). Egypt will be connected with Cyprus with a 498-kilometre (309 mi) long cable. Cyprus will be connected with Crete with a 898-kilometre (558 mi) long cable providing a connection to the pan-European electricity grid.[1] The laying depth of cable will be up to 3,000 metres (9,800 ft) under sea level in some areas between Crete and Cyprus. It will have a capacity to transmit 2,000 megawatts of electricity in either direction. Annual transmission capacity is 17.5 TWh, much more than the annual production of the Aswan Dam.

In The EuroAsia Interconnector, I noted how Israel will be connected to Cyprus, thus when both interconnectors are complete, Cyprus, Egypt, Greece and Israel will be able to share electricity.

July 25, 2022 Posted by | Energy | , , , , , , , , | 1 Comment

The EuroAsia Interconnector

The Wikipedia entry for the EuroAsia Interconnector, introduces the project like this.

The EuroAsia Interconnector is a proposed HVDC interconnector between the Greek, Cypriot, and Israeli power grids via the world’s longest submarine power cable (310 kilometres (190 mi) from Israel to Cyprus and 898 kilometres (558 mi) from Cyprus to Greece, for a total of 1,208 kilometres (751 mi)). Connecting Kofinou, Cyprus to Hadera, Israel and Korakias, Crete, Greece and stated to finish construction in 2023.

When completed it will have a capacity of 2 GW.

From Wikipedia, it appears that at least initially, Israel will export electricity produced in gas-fired power stations from their own more than adequate supplies of natural gas.

In Andrew Forrest’s Fortescue Future Industries Inks Deal With Kingdom of Jordan For Green Hydrogen Study, I published this Google Map of Jordan.

Surely, in the future, the EuroAsia interconnector could be carrying solar generated green electricity from Iraq, Jordan and Saudi Arabia to Cyprus and Greece.

As, according to Reuters, Greece covers about 40% of its annual energy needs with Russian gas, this can’t be good for Vlad the Mad and his bloodstained gas.

 

 

July 25, 2022 Posted by | Energy | , , , , , , , , , , , | 2 Comments

Will We See More Multi-Country Renewable Energy Deals?

In this blog, I have talked about various deals, where two or more countries and/or companies are getting together to generate electricity in one country and transfer it to another, either as electricity or as hydrogen

Examples include.

There are also all the hydrogen deals done by Fortescue Future Industries.

Where Are There Possibilities Of More Multi-Country Renewable Energy Deals?

These are a few serious possibilities.

Argentina

This is an extract from this page on Wind Energy International, which is entitled Argentina.

Argentina has an estimated technical wind energy potential of 300 GW. In southern Patagonia (Chubut and Santa Cruz provinces), average wind speeds range between 9.0 and 11.2 m/s, whereas in the north (Neuquén and Río Negro provinces), wind speeds range from 7.2 to 8.4 m/s. The general average capacity factor for Argentina is 35% and in the Patagonia region it ranges between as much as 47% and 59%. Especially in Northwest Patagonia, locally known as the Comahue region, hydro and wind may seasonally complement each other and.benefit both technologies. One other promising region for wind power development is the Atlantic sea coast.

As I wrote in Australia’s FFI Plans $8.4 Billion Green Hydrogen Project In Argentina, it appears that Andrew Forrest and FFI are already on the ground.

Australia

There are already three major schemes based on Australia and I am certain they will be more. Especially, as Japan, Korea, Malaysia and Singapore will need the zero-carbon energy.

It would appear that except for the Australia-Asia PowerLink, the energy will be transferred as liquid hydrogen or liquid ammonia.

Bangladesh

Bangladesh wouldn’t be on the lists of many, where ideal countries for renewable energy are being discussed.

But, this report on Energy Tracker Asia is entitled The Renewable Energy Potential of Bangladesh, where this is said.

A report investigating the renewable energy technical capacity of Bangladesh found that the country could deploy up to 156 GW of utility-scale solar on 6,250 km2 of land and 150 GW of wind. Offshore wind power would account for 134 GW of this total capacity.

I wouldn’t be surprised to see Bangladesh, supplying renewable energy to the East, with international companies and organisations developing the renewable infrastructure.

I think it should be noted that international companies flock to countries, where the investment opportunities are good. That has happened in the UK, with offshore wind, where many wind farms have been developed by companies such as Equinor, Iberola, RWE and Wattenfall.

Chile

Chile has started to develop the 100,000 square kilometres of the Atacama Desert for solar power and I wrote about this in The Power Of Solar With A Large Battery.

This sentence in the Wikipedia entry for Energy In Chile, illustrates the potential of solar power in the Atacama Desert.

In 2013, Total S.A. announced the world’s largest unsubsidised solar farm would be installed with assistance from SunPower Corp into Chile’s Atacama desert.

I also wrote Chile Wants To Export Solar Energy To Asia Via 15,000km Submarine Cable, about Chile’s ambitions to supply Asia with energy.

Ethiopia

Andrew Forrest of Fortescue Future Industries is on the case, as I wrote in Fortescue Future Industries Enters Ethiopia to Produce Green Energy.

North Africa

Consider.

  • The major North African countries of Morocco, Algeria, Tunisia, Libya and Egypt, all have and depend on to a certain extent on fossil fuels.
  • There are gas pipelines to Spain and Italy.
  • Morocco will be the Southern end of the Morocco-UK Power Project, if it gets developed.
  • All five countries have some nuclear power stations.
  • All five countries have lots of sun for solar power.
  • Some Saharan countries to the South of Morocco, Algeria and Libya could also provide energy from the sun.
  • Egypt has substantial hydro-electric power on the River Nile.
  • Egypt will be connected to Greece through the EuroAfrica Interconnector.

I believe that a well-designed and co-ordinated project could generate a lot of electricity and hydrogen for Europe and bring much-needed income and employment to North Africa.

I feel that if the Morocco-UK Power Project can be successfully built, then this could create a flurry of activity all over North Africa.

Saudi Arabia

Saudi Arabia has a problem. As the rest of the world moves away from fossil fuels in the next few decades, they will see the revenues from oil and natural gas come under pressure.

But as a rich country, with 2.15 million km² of land and lots of sun, they must have some potential to generate solar electricity.

In the Wikipedia entry for Solar Power In Saudi Arabia, this is said.

The Saudi agency in charge of developing the nations renewable energy sector, Ka-care, announced in May 2012 that the nation would install 41 gigawatts (GW) of solar capacity by 2032.[2] It was projected to be composed of 25 GW of solar thermal, and 16 GW of photovoltaics. At the time of this announcement, Saudi Arabia had only 0.003 gigawatts of installed solar energy capacity. A total of 24 GW of renewable energy was expected by 2020, and 54 GW by 2032.

Wikipedia also says that Saudi Arabia also has nuclear ambitions.

I can see that Saudi Arabia will replace some of their oil and gas exports with green hydrogen.

July 25, 2022 Posted by | Energy, Hydrogen | , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

50 Secret Islands In Europe

The title of this post, is the same as an article in Travel section of The Times for May 4th 2019.

These are the islands.

Italy

  • San Nicola, Termiti Islands, Puglia
  • Ponza, Pontine Islands, Lazio
  • Favignana, Egadi Islands, Sicily
  • Capraia, Tuscany
  • Salina, Aeolian Islands – My favourite island!
  • Pellestrina, Venice
  • Panarea, Aeolian Islands – Been there!
  • Palmaria, Liguria
  • Budelli, Maddalena Archipelago, Sardinia

France

  • Ile de Batz, Brittany
  • Ushant, Brittany
  • Ile d’Arz, Brittany
  • Iles Chausey, Normandy
  • Ile de Behuard, Western Loire
  • Ile d’Yeu Vendee
  • Ile d’Aix, Charante-Maritime
  • Ile de Vassiviere, Limousin
  • Port-Cros, Provence
  • Ile Saint-Honorat, Provence

Croatia

  • Lastovo, Dubrovnik-Neretva
  • Vrnik, Korcula
  • Dugi Otok, Zadar
  • Prvic, Sibernik
  • Susak, Kvarner Islands
  • Palagruza

Spain

  • Illa da Taxa, Galicia
  • Illes Cies, Galicia
  • Tabarca, Valencia
  • La Graciosa, Canary Islands
  • Espalmador, Balearic Islands
  • Isla del Burguillo, Avila
  • Isla de Lobos, Canary Islands
  • Isla del Baron, Murcia

Greece

  • Anafi, Cyclades
  • Monissos, Cyclades
  • Folegandros, Cyclades
  • Fourni, Eastern Aegean
  • Ios, Cyclades
  • Kea, Cyclades
  • Kimolos, Cyclades
  • Kythira, Ionian
  • Tinos, Cyclades
  • Tilos, Dodecanese

Best Of The Rest

  • Helgoland, Germany
  • Sejero, Denmark
  • Ameland, Netherlands
  • Great Blasket, Ireland
  • Cape Clear, Ireland
  • Muhu, Estonia
  • Ada Bojana, Montenegro

I shall keep the pages, as some of these islands are worth visiting.

May 12, 2019 Posted by | World | , , , , , , | 2 Comments

Is The Greek Tragedy Approaching The Final Act?

According to this report on the BBC, Greece has now voted through the bailout conditions, so that they can get further money from its debtors.

But will this be the end of the tragedy?

I doubt it!

The Greeks voted for the end of austerity in the last General Election and they have now got Austerity Plus. But they do get to keep the euro!

That sounds like a recipe for trouble!

If there is a lesson in the story of Greece and the euro over the last few years, it is that you must not fiddle the books, bribe the electorate and you must above all keep the finances in order and hopefully balanced.

Did anybody tell the Greeks that euros don’t grow on trees in Brussels?

At least the sun won’t go on strike! This is the one light at the end of the tunnel.

July 16, 2015 Posted by | Finance, World | , , | Leave a comment

The Greek Finance Minister Had The Crash Helmet

What made me laugh yesterday was a picture of the now-resigned Greek Finance Minister, Yanis Varoufakis, riding away from the problems on his motocycle.

He was wearing a crash helmet and his bimbo-on-the-back had to make do without!

A Greek metaphor on the lines of I’m alright, Jack!

I think the video is on this page in the Guardian.

The Mail says the lady is his wife!

 

 

July 7, 2015 Posted by | Finance, World | | Leave a comment

Greeky Bum Time

The Sun can always be relied upon for a catchy headline.

July 6, 2015 Posted by | News | , | 1 Comment

Asking The Oracle At Delphi For Help On The Greek Bailout

In the on-line copy of The Times, in an article on the latest episode of the Greek Bailout saga, there is this reader entered comment.

I have just texted the Oracle of Delphi re the referendum. I have had a most impressive and quick response from one of the delightful ladies of Apollo Land.

As you know, I cannot give my answer until the seventh of this month but the gut feeling here at the Shrine is that the “No’ might just win. People must remember that the Islanders are dead worried that their special low rates of VAT will be increased to mainland levels. The good folk of Rhodes and Crete are especially annoyed as they were told pre the most recent General Election by this Tsipras Johnny that no fiddling with the Islanders VAT would take place.

Our political wing has for the last three thousand years advocated making the larger Islands self sufficient – do you think the IMF will consider a loan for this much needed independence? And here’s another suggestion – the EU’s migrant problem could be solved by dumping the poor b….ers on one or more of the many uninhabited Islands and use them as cheap labour to reclaim the land to grow fruit and veg and the profits used to pay back our debt.

Surely, if the Oracle at Delphi gave good advice the Greeks wouldn’t be in the financial mess they undoubtedly are.

 

 

July 3, 2015 Posted by | Finance, World | | Leave a comment

The Two Big Election Issues The Politicians Aren’t Addressing

The tragedy unfolding off the Libya coast, where hundreds are dying every day as they try to get to Europe is impossible to solve.

We can’t say it’s an Italian problem and put our heads in the sand, as most politicians seem to be doing. Especially, as it seems most of the migrants want to get to Northern Europe and often the UK, where the jobs are.

Suppose we just said that none of these migrants would be let into the UK, as probably the Ukippers would say. How long would it be before the rest of Europe applied policies to get us to accept our fair share?

If on the other hand, we took a selective number, then this would signal to those organising the trade, that there was a good chance you may get residence in the UK.

I haven’t a clue what you do! And neither have the politicians!

I do have some sympathy though for the migrants as three hundred years ago, my two closest male lines; one Jewish and one Huguenot, were welcomed in this country, after escaping from persecution. One was probably a tailor and the other was an engraver, so all they brought was their brains and skills. I don’t know about the Huguenot, but the Jew was probably single and converted to Christianity within a few years, so he could find a lady and get married. My two close female lines are both internal migrants from Devon and Northants. London has always been a magnet for migrants, so nothing has changed.

There is also the problem of Greece going bust, which could happen before our General Election.

It could be argued that it is nothing to do with us, as we’re outside the Euro zone!

But then we have a strong economy and a country where there are a lot of Greeks.

Certainly, if I was a Greek engineer living in Athens with a cousin in London, my savings would have been long gone.

I do wonder how much of the Greek bailout money ended up safely invested outside of Greece.

So we may not lose money, but we are probably going to suffer some collateral damage. Especially, if the various financial institutions want their money back!

It will not be as serious a problem as the Libyan migrants, but where are the politicians heads on this one?

Deep in the sand!

April 20, 2015 Posted by | World | , , , , | 1 Comment