18 February 2019

Latest Power Market News

The US plans to recycle lithium batteries

(North America): The US plans to develop recycling technology of lithium-ion batteries from automotive, consumer electronics and other products. The US Energy Department plans to invest $15 million in a three-year research and development project at Argonne National Laboratory outside Chicago. The US is keen to recycle lithium batteries to increase recycling and reduce reliance on Chinese imports.

Oxis Energy and Codemge Participacoes to build a battery plant in Brazil

(South America): The UK’s Oxis Energy has signed a $60 million agreement with Brazil’s Codemge Participacoes to build a production facility of lithium battery (Li–S battery) in Minas, Brazil. In the first phase, the plant production capacity will reach 2 million cells per year with a further expansion of 5 million cells. The plant is expected to be completed by 2022.

China plans to set up the first solar power station in space to power earth

(Asia): China plans to build the first solar power station in space between 2021 and 2025. The energy will be then transmitted from space solar station to earth in microwave or laser beam. The plan also includes building MW and GW levels commercial space solar power station by 2030 and 2050 respectively. China has already started experimental working on a space power plant in Chongqing.

27 MW hydropower project in Nepal to start power generation this year

(Asia): Nepal’s Himalayan Power Partner has almost completed Dordi Khola Hydropower Project in Lamjung, Nepal. It is expected to start commercial electricity generation by August this year. The 27 MW plant is expected to generate 147.69GWh electricity annually which is mainly be sold to state-owned power utility Nepal Electricity Authority (NEA).

PEC is setting up a new power plant in Cyprus

(Europe): Power Energy Cyprus (PEC), the first private conventional thermal power plant to start operation in Vassiliko, Cyprus by 2021. It will be at developed at the cost of around €200 million aiming to provide low cost and cleaner energy. The plant will have the production capacity of 260 MW and will be transmitted through the national grid.