How interconnection can support decarbonization
Interconnection of power networks can significantly support decarbonisation by harnessing and sharing large amounts of renewable energy.
THIS WEBSITE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER COUNTRIES WHERE SUCH AN OFFER OR SOLICITATION WOULD REQUIRE THE APPROVAL OF LOCAL AUTHORITIES OR OTHERWISE BE UNLAWFUL (THE “OTHER COUNTRIES”). ANY PUBLIC OFFERING WILL BE CONDUCTED IN ITALY PURSUANT TO A PROSPECTUS, DULY AUTHORIZED BY CONSOB IN ACCORDANCE WITH APPLICABLE REGULATIONS. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN REGISTERED AND WILL NOT BE REGISTERED IN THE UNITED STATES UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE CORRESPONDING REGULATIONS IN FORCE IN THE OTHER COUNTRIES AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO “U. S. PERSONS” UNLESS SUCH SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. THE COMPANY DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES.
ANY OFFER OF SECURITIES IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (“EEA”) WHICH HAS IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A “RELEVANT MEMBER STATE”), WILL BE MADE ON THE BASIS OF A PROSPECTUS APPROVED BY THE COMPETENT AUTHORITY AND PUBLISHED IN ACCORDANCE WITH THE PROSPECTUS DIRECTIVE (THE “PERMITTED PUBLIC OFFER”) AND/OR PURSUANT TO AN EXEMPTION UNDER THE PROSPECTUS DIRECTIVE FROM THE REQUIREMENT TO PUBLISH A PROSPECTUS FOR OFFERS OF SECURITIES.
ACCORDINGLY, ANY PERSON MAKING OR INTENDING TO MAKE ANY OFFER OF SECURITIES IN A RELEVANT MEMBER STATE OTHER THAN THE PERMITTED PUBLIC OFFER, MAY ONLY DO SO IN CIRCUMSTANCES IN WHICH NO OBLIGATION ARISES FOR THE COMPANY OR ANY OF THE JOINT GLOBAL COORDINATORS OR ANY OF THE MANAGERS TO PUBLISH A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE OR SUPPLEMENT A PROSPECTUS PURSUANT TO ARTICLE 16 OF THE PROSPECTUS DIRECTIVE, IN EACH CASE, IN RELATION TO SUCH OFFER.
THE EXPRESSION “PROSPECTUS DIRECTIVE” MEANS DIRECTIVE 2003/71/EC (THIS DIRECTIVE AND AMENDMENTS THERETO, INCLUDING DIRECTIVE 2010/73/EC, TO THE EXTENT IMPLEMENTED IN THE RELEVANT MEMBER STATE, TOGETHER WITH ANY IMPLEMENTING MEASURES IN ANY MEMBER STATE). INVESTORS SHOULD NOT SUBSCRIBE FOR ANY SECURITIES REFERRED TO IN THIS DOCUMENT EXCEPT ON THE BASIS OF INFORMATION CONTAINED IN ANY PROSPECTUS.
Confirmation that the certifying party understands and accepts the above disclaimer.
The information contained on this section is for information purposes only and are not intended for or open to access by anyone who is in or who is resident in the USA, Australia, Canada, Japan or in any of the Other Countries. I declare that I am not resident or located in United States, Australia, Canada or Japan or any Other Countries and I am not a “U.S. Person” (according to Regulation S of the Securities Act). I have read and understood the above disclaimer. I understand that it may affect my rights. I agree to be bound by its terms.
QUESTO SITO WEB (E LE INFORMAZIONI IVI CONTENUTE) NON CONTIENE NÉ COSTITUISCE UN'OFFERTA DI VENDITA DI STRUMENTI FINANZIARI O UNA SOLLECITAZIONE DI OFFERTA DI ACQUISTO O SOTTOSCRIZIONE DI STRUMENTI FINANZIARI NEGLI STATI UNITI, IN AUSTRALIA, CANADA O GIAPPONE O IN QUALSIASI ALTRO PAESE NEL QUALE L’OFFERTA O SOLLECITAZIONE DEGLI STRUMENTI FINANZIARI SAREBBERO SOGGETTE ALL’AUTORIZZAZIONE DA PARTE DI AUTORITÀ LOCALI O COMUNQUE VIETATE AI SENSI DI LEGGE (GLI “ALTRI PAESI”). QUALUNQUE OFFERTA PUBBLICA SARÀ REALIZZATA IN ITALIA SULLA BASE DI UN PROSPETTO, APPROVATO DA CONSOB IN CONFORMITÀ ALLA REGOLAMENTAZIONE APPLICABILE. GLI STRUMENTI FINANZIARI IVI INDICATI NON SONO STATI E NON SARANNO REGISTRATI AI SENSI DELLO U.S. SECURITIES ACT DEL 1933, COME SUCCESSIVAMENTE MODIFICATO (IL “SECURITIES ACT”), O AI SENSI DELLE CORRISPONDENTI NORMATIVE VIGENTI NEGLI “ALTRI PAESI” E NON POSSONO ESSERE OFFERTI O VENDUTI NEGLI STATI UNITI O A “U.S. PERSONS” SALVO CHE I TITOLI SIANO REGISTRATI AI SENSI DEL SECURITIES ACT O IN PRESENZA DI UN'ESENZIONE DALLA REGISTRAZIONE APPLICABILE AI SENSI DEL SECURITIES ACT. NON SI INTENDE EFFETTUARE ALCUNA OFFERTA AL PUBBLICO DI TALI STRUMENTI FINANZIARI NEGLI STATI UNITI.
QUALSIASI OFFERTA DI STRUMENTI FINANZIARI IN QUALSIASI STATO MEMBRO DELLO SPAZIO ECONOMICO EUROPEO (“SEE”) CHE ABBIA RECEPITO LA DIRETTIVA PROSPETTI (CIASCUNO, UN “STATO MEMBRO RILEVANTE”) SARÀ EFFETTUATA SULLA BASE DI UN PROSPETTO APPROVATO DALL’AUTORITÀ COMPETENTE E PUBBLICATO IN CONFORMITÀ A QUANTO PREVISTO DALLA DIRETTIVA PROSPETTI (L’“OFFERTA PUBBLICA CONSENTITA”) E/O AI SENSI DI UN’ESENZIONE DAL REQUISITO DI PUBBLICAZIONE DI UN PROSPETTO PER OFFERTE DI STRUMENTI FINANZIARI PREVISTA DALLA DIRETTIVA PROSPETTI.
CONSEGUENTEMENTE, CHIUNQUE EFFETTUI O INTENDA EFFETTUARE UN’OFFERTA DI STRUMENTI FINANZIARI IN UNO STATO MEMBRO RILEVANTE DIVERSA DALL’“OFFERTA PUBBLICA CONSENTITA” PUÒ FARLO ESCLUSIVAMENTE LADDOVE NON SIA PREVISTO ALCUN OBBLIGO PER LA SOCIETÀ O UNO DEI JOINT GLOBAL COORDINATOR O DEI MANAGER DI PUBBLICARE RISPETTIVAMENTE UN PROSPETTO AI SENSI DELL'ARTICOLO 3 DELLA DIRETTIVA PROSPETTO O INTEGRARE UN PROSPETTO AI SENSI DELL'ARTICOLO 16 DELLA DIRETTIVA PROSPETTO, IN RELAZIONE A TALE OFFERTA.
L'ESPRESSIONE “DIRETTIVA PROSPETTI” INDICA LA DIRETTIVA 2003/71/CE (TALE DIRETTIVA E LE RELATIVE MODIFICHE, NONCHÉ LA DIRETTIVA 2010/73/UE, NELLA MISURA IN CUI SIA RECEPITA NELLO STATO MEMBRO RILEVANTE, UNITAMENTE A QUALSIASI MISURA DI ATTUAZIONE NEL RELATIVO STATO MEMBRO). GLI INVESTITORI NON DOVREBBERO SOTTOSCRIVERE ALCUNO STRUMENTO FINANZIARIO SE NON SULLA BASE DELLE INFORMAZIONI CONTENUTE NEL RELATIVO PROSPETTO.
Conferma che il certificante comprende e accetta il disclaimer sopraesposto.
I documenti contenuti nella presente sezione hanno esclusivamente finalità informative e non sono diretti o destinati all'accesso da parte di persone che si trovano o sono residenti negli Stati Uniti, in Australia, Canada o Giappone o uno degli Altri Paesi. Dichiaro di non essere soggetto residente o trovarmi negli Stati Uniti, in Australia, Canada o Giappone o uno degli Altri Paesi e di non essere una “US person” (ai sensi della Regulation S del Securities Act). Ho letto e compreso il disclaimer sopraesposto. Comprendo che può condizionare i miei diritti. Accetto di rispettarne i vincoli.
Interconnection of power networks can significantly support decarbonisation by harnessing and sharing large amounts of renewable energy.
According to the US Energy Information Administration’s "International Energy Outlook 2021" global energy demand will rise 50% between 2020 and 2050, pushing the sector’s annual CO2 emissions up by 24.7%. Renewable energy will make up a far larger part of the total global power mix by 2050, growing 3.3% per year, but fossil fuels will remain in use. How can this be balanced with carbon reduction ambitions?
Global carbon dioxide emissions need to be reduced by 45% by 2030 from 2010 levels and reach net-zero emissions by 2050 in order to reach the goals set out in the Paris Agreement. The energy sector has a vital role to play in this. In 2021, global energy-related CO2 emissions remained at 31.5 Gt, which contributed to CO2 reaching its highest ever average annual atmospheric concentration.
When looking at energy sector CO2 production in different countries, we see that carbon emissions of energy imports are not considered in the same way as those of locally produced power. An Aurora Energy Research study specifies that electricity imports are net-zero “only when supplied by renewables and nuclear sources, or when the grid emission factor of the exporting country is near zero during the time of exports.” Carbon emissions of imports can vary significantly depending on their source. If sustainable energy is exchanged as efficiently as possible, however, this will have a marked effect on decarbonisation.
One key challenge related to renewable energy sources, such as solar and wind, is the variability of yield. This can vary enormously from season to season and even day to day. Through smart transmission interconnection neighbouring regions can mitigate this by importing and exporting power. Interconnectors make it possible for countries to import zero-carbon energy from other regions to supplement their own generation mix. Or they can import energy when renewable source yields drop – for example, solar farms at night. That allows countries to maximise their clean use of energy resources and phase out fossil sources.
High-potential renewable energy areas, such as a solar park in a desert region, are often located very far from the areas where power is consumed. Long-distance transmission interconnections can ensure this energy is transported efficiently to these areas, as well as other countries with relatively little sunlight. Countries experiencing vast amounts of wind at any given moment can share the generated energy with other areas. As a result, countries can reduce their dependency on fossil fuels they may need to support their local renewable sources. In addition, interconnection can also help keep power affordable. If prices in one area increase, power can immediately be imported from countries where generation is less expensive. It’s also possible to react immediately to changes in demand, without needing to start up fossil fuel-based backup power.
By transporting zero-carbon energy from where it is produced to where it is required, interconnectors can help cut CO2 emissions in order to reach net zero. As interconnector capacity increases, the role of interconnectors in supporting decarbonisation is expected to increase. Global and intercontinental power grid interconnections offer significant potential to decarbonize the electrical systems by making smart use of renewable energy and balance supply and demand across regions and time zones. By bringing together load centers and areas that can produce high volumes of renewable power, intercontinental grid interconnection may, in time, result in a global power grid.
‘Electric Power Network Interconnection: A Review on Current Status, Future Prospects and Research Direction’ lists the technological benefits of large scale power network interconnections as follows:
North America: four power grids are interconnected across the United States, Canada and Mexico. Latin America: three main regions linked via grid interconnection Africa: The Africa Clean Energy Corridor (ACEC) enhances cross-border interconnection and trade of renewable power from Egypt to South Africa. Europe: a ‘Europe-Mediterranean-Middle East’ super-power grid is being planned for 2050. India: five regional grids interconnected via HVAC and HVDC links.