Clifford Chance’s Post

#Construction is now underway on the £2.4bn/€2.8bn NeuConnect project – a vital new #energylink between the #UK and #Germany that will connect two of #Europe’s largest #energy markets for the first time. Led by global investors Meridiam, ACP | Allianz Capital Partners, The Kansai Electric Power Co.,Inc. and #Tepco, #NeuConnect will become one of the world’s largest #interconnectors. Some 725km of land and subsea cables will form an ‘invisible energy highway’ between the UK and Germany, allowing up to 1.4GW of electricity to flow in either direction, helping to boost energy security and resilience while also helping to integrate renewable energy sources in both countries. NeuConnect’s main contractors, Prysmian Group and Siemens Energy have now started works in the #UK, with preparatory works also underway in Germany, where #construction will begin in early 2024. Learn more about this project https://lnkd.in/e-VafKUq

A roadmap for Italy and Europe towards energy independence. A new study by Enel Foundation and The European House-Ambrosetti highlights how collaboration and a common governance framework are key to sustainable growth. Discover more 👇

The German government approved in August a €212 billion budget for its flagship climate and transformation fund (KTF). Key focus areas of investment include buildings renovation, decarbonisation of industry, and industrial development to be implemented between 2024 and 2027. What are the €212 billion going for? →The fund primarily targets energy-efficient building renovations, industrial decarbonisation, expansion of renewable energy, electric mobility, semiconductors, and charging infrastructure. →€27 billion is dedicated to replacing existing oil and gas heating systems with eco-friendly options like heat pumps. →The government plans to finance and mandate that all heating systems installed after 2024 must be at least 65% powered by renewable energy. →€12.5 billion will be invested in renovating and expanding the Deutsche Bahn railway network to address train delays. →€4.7 billion is allocated for expanding electric vehicle charging infrastructure, →€3.8 billion will support the hydrogen industry. →€4 billion is set aside for semiconductor projects as the government invests heavily in this industry, securing agreements with large players. →€27 billion, the government is planning on easing the financial burden on households to switch to climate-friendly alternatives. Read more: https://lnkd.in/eNQCPahp #germany #sustainability #climatechange #climatetech #climatefund #co2 #emissions #emissionstrading

Germany is still serious about climate action. At least, if their new flagship fund is any indication. The fund ís leaning heavily toward electrification and transport. Especially if compared to notable solution portfolio breakdowns provided by Project Drawdown and UNEP. These portfolios show significant (avoidable) global emission chunks tied to food waste and to meat and dairy consumption. It makes me wonder: to what extent does the German government dare to promote dietary shifts through government action? Is this as controversial in Green-led Germany as it is in the Netherlands?

Another good news to keep the spirits high! A necessary step forward, which must be looked at not just with awe, but also scrutiny, to hold those in power accountable for its execution. #greenfinance #onestepcloser #climatechangesolutions

We’re growing – I’m proud that the European Team could welcome new members at our recent meeting. It was truly energizing to see such a #diverse group of talented individuals join us on our journey to drive the energy transition! A warm welcome our new team members, whose enthusiasm and fresh perspectives already enrich our collaborative efforts and drive our success forward, Mana Farrokhseresht, Andre Köllejan, Timm Kraegenow! Thanks to our new team members, the European Regulation Team at TenneT will be well positioned for future challenges, with some new focus on the offshore sector. That’s why our meeting centered around the pivotal topic of #Offshore regulation. The insightful discussions and exchange of ideas underscored the importance of our collective efforts in driving #innovation, #coordination and #sustainability in the offshore area. The fact that offshore issues - whether in terms of the energy industry, #regulation or politics - have also become increasingly important at an European level is also shown by ENTSO-E's vision: almost 150 GW of offshore capacity from renewable energies is to be added by 2030. The majority of this growth will take place in the North Sea and will therefore naturally affect both TenneT Netherlands and Germany. To recognise this development, ENTSO-E has for the first time ever also drawn up Offshore Network Development Plans (ONDP) as part of the Ten Year Network Development Plan. The ONDP serves as a guide on where infrastructure is the most needed. Furthermore, it considers "hybrid" solutions, i.e. infrastructure that serves a dual purpose, both connecting offshore generation and interconnecting two or more countries/markets. As a cross-border TSO in the centre of Europe, this is a matter close to our hearts. Building is primordial, but lots of regulation will be needed to arrange bidding zones, balancing, financing, and much more. TenneT is working on it, both as part of the Esbjerg group TSOs as well as in the relevant European TSO-bodies and working groups.  I'm thrilled to witness the growing expertise and passion within our team, and I'm confident that together, we will continue to make significant strides in our Offshore projects – for TenneT and for Europe! #europeanregulation #teamworkmakesthedreamwork #energytransition #sustainability #greenelectricity 

After an acceleration in announcements in the first quarter, the French PPP market set a new record in Q2 2023. Never before have so many contracts been booked in a single quarter, enabling many consumers to sign their very first CPPA in France, and the first few weeks of Q3 have confirmed this very strong momentum. In fact, French regulations are increasingly encouraging the sector. In this edition, we offer you an analysis of the various impacts on the French PPA market of the law to accelerate the production of renewable energies, which was enacted in March. The average selling price at national Guarantees of Origin auctions remained stable before falling slightly in June. Nevertheless, it remained within a high price range (€6.0 to €7.5/MWh), close to the levels of the previous two quarters. See barometer EU here (Belgium included) : https://lnkd.in/ep7dqMVg #LowCarbon #Decarbonization #Sustainability #GreenEnergy   Florent Andrillon | Arthur Arrighi de Casanova

⛳ EP ITRE Committee has approved the draft report steered by MEP Christian Ehler. We welcome the inclusion of Energy Storage technologies in the scope of the Net-Zero Industry Act as crucial for supporting the energy transition.   However, additional widening the scope of the Act to ‘any technology’ still risks: 🔺Diluting the attention from the core purpose of the Net-Zero Industry Act to scale up clean technologies across Europe 🔺Reinforce existing challenges clean tech manufacturers currently face, such as rising energy, input costs and extra-EU imports 🔺Divert the NZIA objective to support the significant investment needed to ensure global competitiveness for critical mass-manufactured clean energy technologies.   EASE will closely monitor the legislative progress of this Act, beginning with the November trialogues.

Today and tomorrow, energy ministers are meeting to discuss the resilience and competitiveness of the EU’s energy infrastructure. On their agenda, ministers will discuss: 1. Resilience of energy infrastructure 2. Financing and de-risking 3. The need for standardization and speedy permitting CCS Europe asks ministers to prioritise the development a Union-wide market for key technologies such as CCS. Developers of net-zero technologies need access to effective de-risking mechanisms as they face a disproportionate amount of the risks involved. We urge Member States to foster cooperation and support the expansion of a market that promote the growth of innovative net-zero technologies. #NoNetZeroWithoutCCS

The Aurora Line, a 400 kV AC transmission line stretching 380 km from Messaure in Sweden to Pyhänselkä in Finland, is more than just an electrical connection line. It serves as a crucial lifeline for enabling the northern industrial green energy transition. This ambitious project is set to significantly boost electricity trading capacity between Sweden and Finland by 40–45%. Recognised as a European project of common interest, the Aurora Line plays a critical role in contributing to a sustainable, secure, and interconnected European electricity market. AFRY, together with Svenska kraftnät, provided a detailed design and carried out ground investigations for the 90 km stretch in Sweden. As the project advances to the construction phase, AFRY will continue to provide technical advice and work closely with Svenska kraftnät and the contractors. This partnership exemplifies our dedication to building secure and efficient electricity systems. We take pride in actively contributing to the realisation of a more sustainable and interconnected energy landscape in Europe. Learn more about the project: https://lnkd.in/dQDmUeSs #engineeredbyAFRY #makingfuture #energytransition