China seeks to be undisputed green leader
September 24, 2020
Richard Heap explores China's desire to become a leader in renewable energy.
Jones Day’s Elise N. Zoli and colleagues provide insight into the unique attributes of the Asian offshore wind sector and address challenges facing the Asian wind and hydrogen sectors.
Last week we held our Financing Wind North America conference. One of the most interesting sessions was on the first day as Frank Getman, president and CEO at Great Bay Renewables, spoke to Bruce Hogg, managing director and head of power & renewables at CPP Investment Board, and Martin Torres, head of the Americas for renewables at BlackRock Real Assets.
In less volatile market conditions, renewable energy sellers could afford a more relaxed attitude toward off-taker credit. But in the post-Covid, post-subsidy environment, certainty around credit is now key to ensuring that PPAs don’t end up costing more than the seller bargained for.
This month, Equinor has applied to the Brazilian Institute of Environment & Renewable Natural Resources for an environmental impact assessment that would pave the way for an up-to-4.7GW complex called Aracatu 1 & 2.
This is Masdar’s second US deal, and it has hinted at more to come. Financial firepower certainly wouldn’t be a problem: Masdar is part of Abu Dhabi state-owned sovereign wealth fund Mubadala, which has assets under management worth $229bn. But is this a one-off or the start of a broader trend?
German manufacturer Nordex this week announced it is set to sell a 2.7GW pipeline of European development projects to German utility RWE.
Macquarie Infrastructure & Real Assets agreed to buy Bard Offshore 1’s owner in August and won European Commission support for the deal last September. How did Bard Offshore 1 overcome its history – and where is it going from here?