Day: July 6, 2020

Brent oil scores lift from Saudi price rise, China optimism, while U.S. crude weighed down by rising coronavirus cases

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nergy-producing nations have “weathered the COVID-19 demand devastation storm and non-compliance [with output cuts] should become the end-of-summer theme for OPEC+,” said Moya. On Monday, West Texas Intermediate crude for August CLQ20, -0.09% was down 13 cents, or 0.3%, at $40.49 a barrel on the New York Mercantile Exchange, after posting a weekly gain of 5% on Thursday, with U.S. markets closed for Independence Day on Friday. Global benchmark Brent oil for September BRNU20, -0.04% rose 38 cents, or 0.9%, at $43.18 a barrel on ICE Futures Europe. U.S. markets…

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Highest ever hydel electricity generated in 2019-20: Asad Umar

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ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Sunday said WAPDA produced the highest ever hydel electricity in 2019-20 with an increase of 20 per cent, compared to the previous year. In his tweet, the minister said massive hydel capacity increase was taking place with Dasu, Mohmand and Diamir Bhasha Dams being built. “We need to rely on local renewable energy instead of expensive imported thermal fuels,” he added. Read More: NEPRA directs power distribution companies to immediately minimise load shedding Earlier, on June 25, Prime Minister…

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Pakistan, China ink accord for construction of Azad Pattan Hydel Power Project

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ISLAMABAD: Pakistan and China on Monday signed an agreement for the construction of Azad Pattan Hydel Power Project. Prime Minister Imran Khan, Power and Petroleum Minister Omar Ayub Khan and Special Assistant to PM on Information and Broadcasting & CPEC Authority Chairman Lt Gen (r) Asim Saleem Bajwa witnessed the signing ceremony. Addressing the ceremony, the prime minister said the China-Pakistan Economic Corridor (CPEC) project will prove to be a milestone in the country’s development and prosperity. He said China is emerging as an economic power on the world’s map…

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India Sees New Record-Low Tariff In 2 Gigawatt Solar Bid

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India witnessed a new record-low solar power tariff in one of the recently concluded national level tenders. The new tariff bid is 3% lower than the previous record-low bid which was first discovered in 2017 and then twice in 2018. The Solar Energy Corporation of India (SECI) bid out 2 gigawatts of solar power capacity late last month in an auction dominated by foreign project developers. Spanish, Italian, French, German, and British companies bagged sizeable shares in the tender while quoting aggressively low tariffs. The lowest tariff bid was submitted by Solarpack,…

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Tracking the Sun to Boost Solar Energy

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Solar-power farms could increase average yield 35% to 40% simply by mounting double-sided photovoltaic (PV) panels on trackers to follow the sun, a multinational research team reports. The team—led by Carlos D. Rodríguez-Gallegos, a research fellow at the Solar Energy Research Institute of Singapore, which is part of the National University of Singapore—analyzed, on a global basis, two types of conventional silicon solar photovoltaic panels (mono- and bifacial) and single- or double-axis tracking systems to move the panels as they follow the sun throughout the day. Team members included researchers…

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