Chinese supplier of wind power equipment plans IPO

By International Herald Tribune


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China High-Speed Transmission Equipment Group, the nation's largest maker of gears for windmills, is seeking as much as 2.12 billion Hong Kong dollars in an initial public offering, two people with knowledge of the sale said.

The company plans to sell 300 million new shares, a 25 percent stake, in Hong Kong at 5.38 dollars to 7.08 dollars apiece, said the people, who declined to be identified because the details are not public.

At the higher valuation, the sale would reap $271 million.

Chinese makers of equipment to generate wind and solar power are selling shares to finance expansion as the government invests more in renewable energy.

China Energy Conservation Investment, a state-run company that is building a 200-megawatt wind farm, said in April that it planned an IPO.

China is encouraging wind power to reduce pollution and help overcome energy shortages. The government plans to expand installed wind power capacity to 5,000 megawatts by 2010 from 1,000 megawatts at the end of 2005.

Wind power accounted for 0.2 percent of China's installed energy generation capacity at the end of 2005, according to an article on the Web site of the National Development and Reform Commission, China's top economic planning body.

Yingli Green Energy Holding, a Chinese maker of solar-power models, this month raised $319 million in a U.S. IPO, joining local rivals including LDK Solar in selling stock this year.

China High-Speed has about 90 percent of the Chinese market for wind power transmission equipment, the chairman, Hu Yueming, said recently. It earned about 25 percent of gross profit from wind power gear in 2006, according to the chief financial officer, Edward Lui.

The company also supplies transmission equipment for ships, road transportation, metals processing and construction materials companies, Hu said.

The price range values China High-Speed at 16.5 times to 21.7 times estimated 2008 earnings, the people said. Vestas Wind Systems, a Danish company that is the world's largest windmill maker, trades at 23.9 times next year's estimated earnings, according to data compiled by Bloomberg.

Morgan Stanley is arranging the share sale.

Zhai Shuping, an official in China High-Speed's Nanjing office, said she had no information about the price range. Cheung Po-ling, a Morgan Stanley spokeswoman in Hong Kong, declined to comment.

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Fish boom prompts energy conglomerate to spend $14.5M to bury subsea cables

Maritime Link Cable Burial safeguards 200-kV subsea cables in the Cabot Strait as Emera and Nova Scotia Power trench lines to mitigate bottom trawling risks from a redfish boom, ensuring Muskrat Falls hydro delivery.

 

Key Points

Trenching Cabot Strait subsea power cables to prevent redfish-driven bottom trawling and ensure Muskrat Falls power.

✅ $14.492M spent trenching 59 km at 400 m depth

✅ Protects 200-kV, 170-km subsea interconnects from trawls

✅ Driven by Gulf redfish boom; DFO and UARB consultations

 

The parent company of Nova Scotia Power disclosed this week to the Utility and Review Board, amid Site C dam watchdog attention to major hydro projects, that it spent almost $14,492,000 this summer to bury its Maritime Links cables lying on the floor of the Cabot Strait between Newfoundland and Cape Breton.

It's a fish story no one saw coming, at least not Halifax-based energy conglomerate Emera.

The parent company of Nova Scotia Power disclosed this week to the Utility and Review Board that it spent almost $14,492,000 this summer to bury its Maritime Link cables lying on the floor of the Cabot Strait between Newfoundland and Cape Breton.

The cables were protected because an unprecedented explosion in the redfish population in the Gulf of St Lawrence is about to trigger a corresponding boom in bottom trawling in the area.

Also known as ocean perch, redfish were not on anyone's radar when the $1.5-billion Maritime Link was designed and built to carry Muskrat Falls hydroelectricity from Newfoundland to Nova Scotia.

The two 200-kilovolt electrical submarine cables spanning the Cabot Strait are the longest in North America, compared with projects like the New England Clean Power Link planned further south. They are each 170 kilometres long and weigh 5,500 tonnes.

Nova Scotia Power customers are paying for the Maritime Link in return for a minimum of 20 per cent of the electricity generated by Muskrat Falls over 35 years.

The electricity is supposed to start sending first electricity through the Maritime Link in mid-2020.

First time cost disclosed
In August, the company buried 59 kilometres of subsea cables one metre below the bottom at depths of 400 metres.

"These cables had not been previously trenched due to the absence of fishing activities at those depths when the cables were originally installed," spokesperson Jeff Myrick wrote in an email to CBC News in October.

Ratepayers will get the bill next year, as utilities also face risks like copper theft that can drive costs in the region. Until now, the company had declined to release costs relating to protecting the Maritime Link.

The bill will be presented to regulators, a process that has affected projects such as a Manitoba Hydro line to Minnesota, when the company applies to recover Maritime Link costs from Nova Scotia Power ratepayers in 2020.

Myrick said the company was acting after consultation with the Department of Fisheries and Oceans.

Unexpected consequences
After years of overfishing in the 1980s and early 1990s, redfish quotas were slashed and a moratorium imposed on some redfish.

Confusingly, there are actually two redfish species in the Gulf of St. Lawrence.

But very strong recent year classes, that have coincided with warming waters in the gulf, as utilities adapt to climate change considerations grow, have produced redfish in massive numbers.

After years of overfishing, the redfish population is now booming in the Gulf of St. Lawrence. (Submitted by Marine Institute)
There is now believed to be three-million tonnes of redfish in the Gulf of St Lawrence.

The Department of Fisheries and Oceans is expected to increase quotas in the coming years and the fishing industry is gearing up in a big way.

Earlier this month, Scotia Harvest announced it will begin construction of a new $14-million fish plant in Digby next spring in part to process increased redfish catches.

 

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Renewable power developers discover more energy sources make better projects

Hybrid renewable energy projects integrate wind, solar, and battery storage to enhance grid reliability, reduce curtailment, and provide dispatchable power in markets like Alberta, leveraging photovoltaic tracking, overbuilt transformers, and improved storage economics.

 

Key Points

Hybrid renewable energy projects combine wind, solar, and storage to deliver reliable, dispatchable clean power.

✅ Combine wind, solar, and batteries for steady, dispatchable output

✅ Lower curtailment by using shared transformers and smart inverters

✅ Boost farm income via leases; diversify risk from oil and gas

 

Third-generation farmer James Praskach has been burned by the oil and gas sector and watched wicked weather pound his crops flat, but he is hoping a new kind of energy -- the renewable kind -- will pay dividends.

The 39-year-old is part of a landowner consortium that is hosting the sprawling 300-megawatt Blackspring Ridge wind power project in southeastern Alberta.

He receives regular lease payments from the $600-million project that came online in 2014, even though none of the 166 towering wind turbines that surround his land are actually on it.

His lease payments stand to rise, however, when and if the proposed 77-MW Vulcan Solar project, which won regulatory approval in 2016, is green-lighted by developer EDF Renewables Inc.

The panels would cover about 400 hectares of his family's land with nearly 300,000 photovoltaic solar panels in Alberta, installed on racks designed to follow the sun. It would stand in the way of traditional grain farming of the land, but that wouldn't have been a problem this year, Praskach says.

"This year we actually had a massive storm roll through. And we had 100 per cent hail damage on all of (the Vulcan Solar lands). We had canola, peas and barley on it this year," he said, adding the crop was covered by insurance.

Meanwhile, poor natural gas prices and a series of oilpatch financial failures mean rents aren't being paid for about half of the handful of gas wells on his land, showing how a province that is a powerhouse for both fossil and green energy can face volatility -- he's appealed to the Alberta surface Rights Board for compensation.

"(Solar power) would definitely add a level of security for our farming operations," said Praskach.

Hybrid power projects that combine energy sources are a growing trend as selling renewable energy gains traction across markets. Solar only works during the day and wind only when it is windy so combining the two -- potentially with battery storage or natural gas or biomass generation -- makes the power profile more reliable and predictable.

Globally, an oft-cited example is on El Hierro, the smallest of the Canary Islands, where wind power is used to pump water uphill to a reservoir in a volcanic crater so that it can be released to provide hydroelectric power when needed. At times, the project has provided 100 per cent of the tiny island's energy needs.

Improvements in technology such as improving solar and wind power and lower costs for storage mean it is being considered as a hybrid add-on for nearly all of its renewable power projects, said Dan Cunningham, manager of business development at Greengate Power Corp. of Calgary.

Grant Arnold, CEO of developer BluEarth Renewables, agreed.

"The barrier to date, I would say, has been cost of storage but that is changing rapidly," he said. "We feel that wind and storage or solar and storage will be a fundamental way we do business within five years. It's changing very, very rapidly and it's the product everybody wants."

Vulcan Solar was proposed after Blackspring Ridge came online, said David Warner, associate director of business development for EDF Renewables, which now co-owns the wind farm with Enbridge Inc.

"Blackspring actually had incremental capacity in the main power transformers," he said. "Essentially, it was capable of delivering more energy than Blackspring was producing. It was overbuilt."

Vulcan Solar has been sized to utilize the shortfall without producing so much energy that either will ever have to be constrained, he said. Much of the required environmental work has already been done for the wind farm.

Storage is being examined as a potential addition to the project but implementing it depends on the regulatory system. At present, Alberta's regulators are still working on how to permit and control what they call "dispatchable renewables and storage" systems.

EDF announced last spring it would proceed with the Arrow Canyon Solar Project in Nevada which is to combine 200 MW of solar with 75 MW of battery storage by 2022 -- the batteries are to soak up the sun's power in the morning and dispatch the electricity in the afternoon when Las Vegas casinos' air conditioning is most needed.

What is clear is that renewable energy will continue to grow, with Alberta renewable jobs expected to follow -- in a recent report, the International Energy Agency said global electricity capacity from renewables is set to rise by 50 per cent over the next five years, an increase equivalent to adding the current total power capacity of the United States.

The share of renewables is expected to rise from 26 per cent now to 30 per cent in 2024 but will remain well short of what is needed to meet long-term climate, air quality and energy access goals, it added.

 

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Newsom Vetoes Bill to Codify Load Flexibility

California Governor Gavin Newsom vetoed a bill aimed at expanding load flexibility in state grid planning, citing conflicts with California’s resource adequacy framework and concerns over grid reliability and energy planning uncertainty.

 

Why has Newsom vetoed the Bill to Codify Load Flexibility?

Governor Gavin Newsom’s veto blocks legislation that would have required the California Energy Commission to incorporate load flexibility into the state’s energy planning and policy framework, a move that has stirred debate across the clean energy sector.

✅ Argues the bill conflicts with California’s existing Resource Adequacy system

✅ Draws backlash from clean energy and grid modernization advocates

✅ Exposes ongoing tension over how to manage renewable integration and demand response

 

California Governor Gavin Newsom has vetoed Assembly Bill 44, which would have required the California Energy Commission to evaluate and incorporate load management mechanisms into the state’s energy planning process. The move drew criticism from clean energy advocates who say it undermines efforts to strengthen grid reliability and reduce costs.

The bill directed the commission to adopt “upfront technical requirements and load modification protocols” that would allow load-serving entities to adjust their electrical demand forecasts. Proponents viewed this as a way to modernize California’s grid management, and to explore a revamp of electricity rates to help clean the grid, making it more responsive to demand fluctuations and renewable energy variability.

In his veto statement, Newsom said the bill was incompatible with existing energy planning frameworks, even as a looming electricity shortage remains a concern. “While I support expanding electric load flexibility, this bill does not align with the California Public Utility Commission’s Resource Adequacy framework,” he said. “As a result, the requirements of this bill would not improve electric grid reliability planning and could create uncertainty around energy resource planning and procurement processes.”

Newsom’s decision comes shortly after he signed a broad package of energy legislation that set the stage for a regional Western electricity market and extended the state’s cap-and-trade program. However, that legislative package did not include continued funding for several key grid reliability programs — including what advocates have called the world’s largest virtual power plant, a distributed network of connected devices that can balance electricity demand in real time.

Clean energy supporters saw AB 44 as a crucial step toward integrating these distributed energy resources into long-term grid planning. “With Assembly Bill 44 being vetoed, the state has missed a huge opportunity to advance common-sense policy that would have lowered costs, strengthened the grid, and unlocked the full potential of advanced energy,” said Edson Perez, California lead at Advanced Energy United.

Perez added that the setback increases pressure on lawmakers to take stronger action in the next legislative session. “The pressure is on next session to ensure that California is using all tools in its policy toolbox to build critically needed infrastructure, strengthen the grid, and bring costs down,” he said.

California’s growing use of demand response programs and virtual power plants has been central to its strategy for managing grid stress during heat waves and wildfire seasons. These systems allow utilities and customers to temporarily reduce or shift energy use, helping to prevent blackouts and reduce the need for fossil-fuel peaker plants during peak demand.

A recent report by the Brattle Group found that California’s taxpayer-funded virtual power plant could save ratepayers $206 million between 2025 and 2028 while reducing reliance on gas generation. The study, commissioned by Sunrun and Tesla Energy, highlighted the potential for flexible load management to improve both grid reliability and reduce costs, even as regulators weigh whether the state needs more power plants to ensure reliability.

Despite these findings, Newsom’s veto signals continued tension between state policymakers and clean energy advocates over how best to modernize California’s power grid. While the governor has prioritized large-scale renewable development and regional market integration, critics argue that California’s climate policy choices risk exacerbating reliability challenges and that failing to codify load flexibility could slow progress toward a more adaptive, resilient, and affordable clean energy future.

 

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Hydro wants B.C. residents to pay an extra $2 a month for electricity

BC Hydro Rate Increase proposes a 2.3% hike from April, with BCUC review, aligning below inflation and funding clean energy, electrification, and grid upgrades across British Columbia while keeping electricity prices among North America's lowest.

 

Key Points

A proposed 2.3% BC Hydro hike from April, under BCUC review, funds clean energy and keeps average bills below inflation.

✅ Adds about $2 per month to average residential bill

✅ Sixth straight increase below inflation since 2018

✅ Supports renewable projects and grid modernization

 

The British Columbia government says the province’s Crown power utility is applying for a 2.3-per-cent rate increase starting in April, with higher BC Hydro rates previously outlined, adding about $2 a month to the average residential bill.

A statement from the Energy Ministry says it’s the sixth year in a row that BC Hydro has applied for an increase below the rate of inflation, similar to a 3 per cent rise noted in a separate approval, which still trailed inflation.

It says rates are currently 15.6 per cent lower than the cumulative rate of inflation over the last seven years, starting in 2017-2018, with a provincial rate freeze among past measures, and 12.4 per cent lower than the 10-year rates plan established by the previous government in 2013.

The ministry says the “modest” rate increase application comes after consideration of a variety of options and their long-term impacts, including scenarios like a 3.75% two-year path evaluated alongside others, and the B.C. Utilities Commission is expected to decide on the plan by the end of February.

Chris O’Riley, president of BC Hydro, says the rates application would keep electricity costs in the province among the lowest in North America, even as a BC Hydro fund surplus prompted calls for changes, while supporting investments in clean energy to power vehicles, homes and businesses.

Energy Minister Josie Osborne says it’s more important than ever to keep electricity bills down, especially as Ontario hydro rates increase in a separate jurisdiction, as the cost of living rises at rates that are unsustainable for many.

“Affordable, stable BC Hydro rates are good for people, businesses and climate as we work together to power our growing economy with renewable energy instead of fossil fuels,” Osborne says in a statement issued Monday.

Earlier this year, the ministry said BC Hydro provided $315 million in cost-of-living bill credits, while in another province Manitoba Hydro scaled back an increase to ease pressure, to families and small businesses in the province, including those who receive their electricity service from FortisBC or a municipal utility.

 

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IAEA Reviews Belarus’ Nuclear Power Infrastructure Development

Belarus Nuclear Power Infrastructure Review evaluates IAEA INIR Phase 3 readiness at Ostrovets NPP, VVER-1200 reactors, legal and regulatory framework, commissioning, safety, emergency preparedness, and energy diversification in a low-carbon program.

 

Key Points

An IAEA INIR Phase 3 assessment of Belarus readiness to commission and operate the Ostrovets NPP with VVER-1200 units.

✅ Reviews legal, regulatory, and institutional arrangements

✅ Confirms Phase 3 readiness for safe commissioning and operation

✅ Highlights good practices in peer reviews and emergency planning

 

An International Atomic Energy Agency (IAEA) team of experts today concluded a 12-day mission to Belarus to review its infrastructure development for a nuclear power programme. The Integrated Nuclear Infrastructure Review (INIR) was carried out at the invitation of the Government of Belarus.

Belarus, seeking to diversify its energy production with a reliable low-carbon source, and aware of the benefits of energy storage for grid flexibility, is building its first nuclear power plant (NPP) at the Ostrovets site, about 130 km north-west of the capital Minsk. The country has engaged with the Russian Federation to construct and commission two VVER-1200 pressurised water reactors at this site and expects the first unit to be connected to the grid this year.

The INIR mission reviewed the status of nuclear infrastructure development using the Phase 3 conditions of the IAEA’s Milestones Approach. The Ministry of Energy of Belarus hosted the mission.

The INIR team said Belarus is close to completing the required nuclear power infrastructure for starting the operation of its first NPP. The team made recommendations and suggestions aimed at assisting Belarus in making further progress in its readiness to commission and operate it, including planning for integration with variable renewables, as advances in new wind turbines are being deployed elsewhere to strengthen the overall energy mix.

“This mission marks an important step for Belarus in its preparations for the introduction of nuclear power,” said team leader Milko Kovachev, Head of the IAEA’s Nuclear Infrastructure Development Section. “We met well-prepared, motivated and competent professionals ready to openly discuss all infrastructure issues. The team saw a clear drive to meet the objectives of the programme and deliver benefits to the Belarusian people, such as supporting the country’s economic development, including growth in EV battery manufacturing sectors.”

The team comprised one expert from Algeria and two experts from the United Kingdom, as well as seven IAEA staff. It reviewed the status of 19 nuclear infrastructure issues using the IAEA evaluation methodology for Phase 3 of the Milestones Approach, noting that regional integration via an electricity highway can shape planning assumptions as well. It was the second INIR mission to Belarus, who hosted a mission covering Phases 1 and 2 in 2012.

Prior to the latest mission, Belarus prepared a Self-Evaluation Report covering all infrastructure issues and submitted the report and supporting documents to the IAEA.

The team highlighted areas where further actions would benefit Belarus, including the need to improve institutional arrangements and the legal and regulatory framework, drawing on international examples of streamlined licensing for advanced reactors to ensure a stable and predictable environment for the programme; and to finalize the remaining arrangements needed for sustainable operation of the nuclear power plant.

The team also identified good practices that would benefit other countries developing nuclear power in the areas of programme and project coordination, the use of independent peer reviews, cooperation with regulators from other countries, engagement with international stakeholders and emergency preparedness, and awareness of regional initiatives such as new electricity interconnectors that can enhance system resilience.

Mikhail Chudakov, IAEA Deputy Director General and Head of the Department of Nuclear Energy attended the Mission’s closing meeting. “Developing the infrastructure required for a nuclear power programme requires significant financial and human resources, and long lead times for preparation and the approval of major transmission projects that support clean power flows, and the construction activities,” he said. “Belarus has made commendable progress since the decision to launch a nuclear power programme 10 years ago.”

“Hosting the INIR mission, Belarus demonstrated its transparency and genuine interest to receive an objective professional assessment of the readiness of its nuclear power infrastructure for the commissioning of the country’s first nuclear power plant,” said Mikhail Mikhadyuk, Deputy Minister of Energy of the Republic of Belarus. ”The recommendations and suggestions we received will be an important guidance for our continuous efforts aimed at ensuring the highest level of safety and reliability of the Belarusian NPP."
 

 

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Poland’s largest power group opts to back wind over nuclear

Poland Offshore Wind Energy accelerates as PGE exits nuclear leadership, PKN Orlen steps in, and Baltic Sea projects expand to cut coal reliance, meet EU emissions goals, attract investors, and bridge the power capacity gap.

 

Key Points

A shift from coal and nuclear to Baltic offshore wind to add capacity, cut EU emissions, and attract investment.

✅ PGE drops lead in nuclear; pivots $10bn to offshore wind.

✅ PKN Orlen may assume nuclear role; projects await approval.

✅ 6 GW offshore could add 60b zlotys and 77k jobs by 2030.

 

PGE, Poland’s biggest power group has decided to abandon a role in building the country’s first nuclear power plant and will instead focus investment on offshore wind energy.

Reuters reports state-run refiner PKN Orlen (PKN.WA) could take on PGE’s role, while the latter announces a $10bn offshore wind power project.

Both moves into renewables and nuclear represent a major change in Polish energy policy, diversifying away from the country’s traditional coal-fired power base, as regional efforts like the North Sea wind farms initiative expand, in a bid to fill an electricity shortfall and meet EU emission standards.

An unnamed source told the news agency, PGE could not fund both projects and cheap technology had swung the decision in favour of wind, with offshore wind competing with gas in some markets. PGE could still play a smaller role in the nuclear project which has been delayed and still needs government approval.

#google#

A proposed law is currently before the Polish parliament aiming at facilitating easy construction of wind turbines, mindful of Germany’s grid expansion challenges that have hindered rollout.

If the law is passed, as expected, several other wind farm projects could also proceed.

Polenergia has said it would like to build a wind farm in the Baltic by 2022. PKN Orlen is also considering building one.

PGE said in March that it wants to build offshore windfarms with a capacity of 2.5 gigawatts (GW) by 2030.

Analysts and investors say that offshore wind farms are the easiest and fastest way for Poland to fill the expected capacity gap from coal, with examples like the largest UK offshore wind farm coming online underscoring momentum, and reduce CO2 emissions in line with EU’s 2030 targets as Poland seeks improved ties with Brussels.

The decision to open up the offshore power industry could also draw in investors, as shown by Japanese utilities’ UK offshore investment attracting cross-border capital. Statoil said in April it would join Polenergia’s offshore project which has drawn interest from other international wind companies. “

The Polish Wind Energy Association (PWEA) estimates that offshore windfarms with a total capacity of 6 GW would help create around 77,000 new jobs and add around 60 billion zlotys to economic growth.

 

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