Solar Energy News Roundup for January 5 2017

Local News:

Meralco to award deal to PowerSource- Solar developer PowerSource First Bulacan Solar Inc. matched the price offer of Asian solar developer Soleq to supply 50 megawatts of solar capacity to retailer Manila Electric Co. Meralco senior vice president and head of customer retail services, corporate marketing and communications Al Panlilio confirmed that PowerSource reduced its initial price offer of P5.39 per kilowatt-hour to P4.69 per kWh.

Ayala power unit to focus on wind, solar- Ayala-owned AC Energy Holdings Inc. is setting aside plans to develop hydropower projects to focus on other renewable energy (RE) developments in more advanced stages after it sold all its interests in three hydropower companies. “AC Energy will first focus on solar and wind development, and could potentially revisit hydro in the future,” AC Energy president and CEO John Eric Francia said in a text message.

International News:

SEIA teams with the Solar Energy Finance Association to lower the cost of capital- The Solar Energy Industries Association (SEIA) has formerly partnered with the Solar Energy Finance Association (SEFA) to lower the cost of capital in the industry and form a single voice for organising stakeholders including developers, investors and lenders.

50% Of UK’s Electricity July—September 2016 Came From Renewables + Nuclear- Around half of the electricity generated in the UK during the months of July 2016 through September 2016 came from “low carbon electricity” installations, according to recent reports.

Record number of oil and gas firms go bust as renewable energy revolution begins to bite- The world’s largest private power production company warns the sector that renewables could drive the oil price as low as $10 a barrel. A record number of oil and gas companies became insolvent last year, according to a new study which environmentalists said highlighted the need for the UK to prepare for the move to a low-carbon economy.

Engie Sees “Free Energy” & $10 Per Barrel Oil Prices By 2025- “The promise of quasi-infinite and free energy is here,” says Thierry Lepercq, head of research, technology and innovation for Engie SA. He thinks the cost of solar power will drop below $10 a megawatt-hour ($0.01 per kWh) before 2025 in the world’s sunniest places. Engie recently conducted a “very deep modeling” of the Provence-Alpes-Cote d’Azur region of France, which has about 5 million inhabitants. The study showed those regions could run entirely on renewable energy for about 20% less than the price of electricity today.