Latest news with #energíaRenovable
Bloomberg
6 days ago
- Business
- Bloomberg
Spain Makes First Payment in Lengthy Fight Over Renewable Energy
The Spanish government made its first payment as a result of an arbitration decision in 2021 around the country's move to change investor incentives tied to renewable energy projects, following a number of lengthy legal battles between Spain and various creditors. An entity called Blasket Renewable Investments, which petitioned a claim against the country in the US, notified a US federal court on Wednesday that Spain had 'fully satisfied' a final judgment ordering the payment, court documents show, without specifying how much was paid.
Yahoo
22-05-2025
- Business
- Yahoo
Ecopetrol Will Acquire Ten Renewable Energy Firms from Norway's Statkraft
CEO Ricardo Roa of Colombia's state-owned oil company Ecopetrol S.A. (NYSE:EC) stated on Tuesday that the two companies had reached an agreement to acquire ten wind and solar energy project development companies from Statkraft of Norway. A portfolio of renewable projects with a combined capacity of up to 1.3 gigawatts is part of the agreement, which aims to provide for the firm's domestic energy needs. There was no disclosure of the transaction's value. One project is now underway, and others have no set timeframe but are expected to begin in 2026 or 2027. Legal and regulatory approvals of the agreement are still pending. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. The acquisition reduces Ecopetrol S.A. (NYSE:EC)'s dependency on bilateral agreements and spot market purchases while assisting with its shift to low-emission energy. The projects are spread in the departments of La Guajira, Sucre, Cordoba, Caldas, and Magdalena. Roa claims that the agreement improves the business's energy independence in a market that is very competitive. Jose Castellanos, Statkraft's Colombian representative, stated that the sale marks the Norwegian company's complete withdrawal from the Colombian market. As part of a larger move toward renewable energy, Ecopetrol S.A. (NYSE:EC) also signed an agreement with AES Colombia in April to acquire a 49% stake in the Jemeiwaa Ka'I wind cluster and is currently negotiating the purchase of another wind project with Enel of Italy. While we acknowledge the potential of EC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EC and that has 100x upside potential, check out our report about this READ NEXT: and Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
20-05-2025
- Business
- Reuters
Colombia's Ecopetrol to buy 10 renewable energy firms from Norway's Statkraft
BOGOTA, May 20 (Reuters) - Colombia's Ecopetrol said on Tuesday it signed an agreement with Norway's Statkraft to buy 10 wind and solar energy project development companies. Ecopetrol Chief Executive Ricardo Roa said the portfolio of projects could total up to 1.3 gigawatts in capacity.
Telegraph
07-05-2025
- Politics
- Telegraph
Spanish PM doubles down on net zero after blackout
Spain's Socialist prime minister doubled down on a commitment to net zero over a week after an unprecedented blackout plunged the country into chaos. Pedro Sánchez said his government would not be changing course despite warnings from the national grid operator that increasing reliance on renewables risked system collapse. He also ruled out a rethink of its plan to scrap Spain's nuclear power stations. Mr Sánchez said the cause of the April 28 outage remained unknown, but that renewables were not to blame. 'There is not empirical evidence telling us that the incident was caused by an excess of renewable energy sources or from a lack of nuclear power,' he said to parliament on Wednesday. Hitting back at calls for the government to about-turn on scrapping the nuclear stations, he said nuclear power advocates were using the blackout as an excuse for a 'gigantic manipulation exercise'. 'Not a single serious study says nuclear power is essential for Spain,' he said. 'In Spain, the future of energy lies in other sources such as hydroelectric, solar, wind and green hydrogen. Renewables are not only the future; they are our only choice.' Before the blackout hit, renewables were generating 71 per cent of the grid's electricity. Solar power accounted for more than half of the input into the system. The collapse on April 28, which also knocked out power across Portugal and parts of southern France, lasted throughout the afternoon and into the evening in many places, with the grid recovering full power by 6am the next day. Mr Sánchez said that in the moments before the lights went out, three incidents were registered in the system: one in the south of the country and two in the south-west. All were in areas that generate large amounts of solar power. The prime minister said he understood that people were impatient to know the reason for the blackout, but warned it would take time to reconstruct the sequence of events. The ministries leading the investigation had gathered 756 million data points from the electricity system, Mr Sánchez noted, insisting that Spain's grid 'is among the safest in the world'. Spain's government has not ruled out the possibility that a cyberattack caused the blackout. The Red Eléctrica grid operator said it was not the victim of an attack on April 28, but that the causes of the incidents that took place in regional sub-grids have yet to be clarified. Mr Sánchez said Spain's critical infrastructure received a thousand cyberattacks last year and pledged to improve the security of telecommunications, airports and the electricity grid. About 31 per cent of a £9 billion defence plan announced last month would be allocated towards upgrading telecommunications and cybersecurity capabilities, he said. Alberto Núñez Feijóo, the opposition People's Party leader, said Mr Sánchez was 'taking Spaniards for fools' with Wednesday's speech to parliament. 'In an hour and a half he did not explain why the lights went out or how we are going to pay for the €10.5 billion in military spending.' Mr Sánchez's coalition government is divided on the need to boost defence spending, and has not been able to pass a state budget since before the last general election in 2023.
