Canberra backs Australia power link to Singapore

Market: Electricity, Natural gas
30/07/20

The Australian government plans to accelerate the planning process for the A$22bn ($15.7bn) project to build a 3,000MW high-voltage power cable to Singapore to transmit electricity generated from a 10,000MW solar farm proposed for the Northern Territory.

Major project status has been granted to Australian-Singaporean private investment firm Sun Cable's proposed Australian-Asean Power Link (AAPL), supported by the battery and solar farm in the Barkly region near Tennant Creek, Australian energy minister Angus Taylor said.

The AAPL project's transmission cable has the capacity to deliver up to a third of Singapore's current electricity demand. Around 95pc of Singapore's electricity is generated by gas-fired plants. The project was previously known as the Australia-Singapore Power Link.

There are also plans to build a 15,000MW solar and wind power project in the Pilbara region of Western Australia, supplying Indonesia and 3,000MW dedicated to mining projects in the Pilbara.

By Kevin Morrison

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20/12/24

US House votes to avert government shutdown

Washington, 20 December (Argus) — The US House of Representatives voted overwhelmingly today to extend funding for US federal government agencies and avoid a partial government shutdown. The Republican-controlled House, by a 366-34 vote, approved a measure that would maintain funding for the government at current levels until 14 March, deliver $10bn in agricultural aid and provide $100bn in disaster relief. Its passage was in doubt until voting began in the House at 5pm ET, following a chaotic intervention two days earlier by president-elect Donald Trump and his allies, including Tesla chief executive Elon Musk. The Democratic-led Senate is expected to approve the measure, and President Joe Biden has promised to sign it. Trump and Musk on 18 December derailed a spending deal House speaker Mike Johnson (R-Louisiana) had negotiated with Democratic lawmakers in the House and the Senate. Trump lobbied for a more streamlined version that would have suspended the ceiling on federal debt until 30 January 2027. But that version of the bill failed in the House on Thursday, because of opposition from 38 Republicans who bucked the preference of their party leader. Trump and Musk opposed the bipartisan spending package, contending that it would fund Democratic priorities, such as rebuilding the collapsed Francis Scott Key Bridge in Baltimore, Maryland. But doing away with that bill killed many other initiatives that his party members have advanced, including a provision authorizing year-round 15pc ethanol gasoline (E15) sales. Depending on the timing of the Senate action and the presidential signature, funding for US government agencies could lapse briefly beginning on Saturday. Key US agencies tasked with energy sector regulatory oversight and permitting activities have indicated that a brief shutdown would not significantly interfere with their operations. But the episode previews potential legislative disarray when Republicans take full control of Congress on 3 January and Trump returns to the White House on 20 January. Extending government funding beyond 14 March is likely to feature as an element in the Republicans' attempts to extend corporate tax cuts set to expire at the end of 2025, which is a key priority for Trump. The Republicans will have a 53-47 majority in the Senate next month, but their hold on the House will be even narrower than this year, at 219-215 initially. Trump has picked two House Republican members to serve in his administration, so the House Republican majority could briefly drop to 217-215 just as funding for the government would expire in mid-March. Congress will separately have to tackle the issue of raising the debt limit. Conservative advocacy group Economic Policy Innovation Center projects that US borrowing could reach that limit as early as June. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Brazil Bndes invests more in Sao Paulo EV fleet

20/12/24

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20/12/24

Brazil Bndes invests more in Sao Paulo EV fleet

Sao Paulo, 20 December (Argus) — Brazil's Bndes development bank approved R94.8mn ($15.6mn) in financing for transport company MobiBrasil to buy 87 electric buses in Sao Paulo city. The environment ministry's climate fund — created to finance climate change mitigation projects and Bndes — will be responsible for R45mn. A federal fund to provide financial security to the unemployed, dubbed FGTS, will be responsible for the remaining R49.8mn. This is Bndes' first operation using FGTS resources. Earlier this month, Bndes said it will invest R2.5bn to buy 1,300 EV-buses in Sao Paulo city . On 9 December, the city's council postponed the bus fleet transition from diesel-powered to EVs to 2054 from the previous 2038 deadline. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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US government agencies set to shut down

20/12/24

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20/12/24

US government agencies set to shut down

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Investment funds cut net long positions on Ice TTF

20/12/24

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20/12/24

Investment funds cut net long positions on Ice TTF

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Australia’s Cleanaway, LMS to produce landfill gas

20/12/24

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20/12/24

Australia’s Cleanaway, LMS to produce landfill gas

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