Many economists, politicians, and central bankers have been studying, theorizing, and debating the potential role central banking could play in the global effort to promote decarbonization and address climate change. There is little consensus, if any. However, the People’s Bank of China (PBOC) has eschewed debate and quietly made efforts to green China’s financial system for some time.
Read More
The total energy access gap is pretty huge in Nigeria. Even for those who do have access to power, the power supply is unreliable and unstable. Thus, there is a lot that needs to be done. The federal government of Nigeria has taken huge steps towards bridging the existing energy access gap. A number of policies and regulations have been introduced to promote solar power in Nigeria to not take over but supplement the main grid.
Read More
Russia’s invasion of Ukraine has once more exposed the EU’s vulnerability in relying on fossil fuels to heat our homes, power our cars and fuel our industries. While heavy industry is a major consumer of fossil gas, it has been notably absent in the emerging EU strategy to rapidly get off Russian gas. The EU needs to act now, maximising short-term gas savings in industry and ensuring the Fit for 55 package sends the right policy signals to substantially reduce gas dependency in the next 10 years.
Read More
The emergence of iron-based chemistries to solve some of the cost issues of RFBs is expected to improve their commercial feasibility, allowing them to compete with lithium-ion for around half of the stationary storage market by 2030, according to the US Department of Energy’s Energy Storage Grand Challenge Market Report 2020. Currently, the preferred electrolyte for flow- batteries is vanadium due to its stability.
Read More
In 2020, Europe’s contribution to the total cumulative PV installations amounted to 22% (compared to 24% in 2019). In contrast, installations in China accounted for 33% (same value as the year before). Si-wafer based PV technology accounted for about 95% of the total production in 2020. The share of mono-crystalline technology is now about 84% (compared to 66% in 2019) of total c-Si production.
Read More
The year 2022 is expected to be a turning point for the ASEAN Region in terms of its energy transition. The AMS’ updated NDCs are expected to bring more ambitious strategies. This is evident by the statement under the Glasgow Climate Pact and the Global Coal to Clean Power Transition Statement. In addition to this, the AMS also set their long-term strategies to reach net zero emissions, which are beyond their NDCs target.
Read More
ESG was already gaining traction among the biggest investors in the world. The United Nations Principles for Responsible Investing (UNPRI) was founded in 2006 and now has more than 3,500 signatories including the biggest institutional investors with US$120 trillion in assets under management. These signatories have committed to integrating ESG factors into investment decision-making.
Read More
Could the waves in our oceans and seas help tackle the global energy crisis? In theory, yes. Wave energy globally could meet the world’s annual electricity needs, if it was fully harnessed, scientists have estimated. Indeed, the waves around the United States coasts could provide 66% of the country’s electricity, according to the US Energy Information Administration.
Read More
California’s 100 Percent Clean Energy Act of 2018 or Senate Bill 100 (SB 100) calls for a switch over to carbon-free electricity by 2045, in addition to accelerating the integration of new renewable electricity resources into the grid. It also aims to ensure at least 60 per cent of California’s electricity is renewable by 2030. The draft develops a long-range blueprint of the interconnected high-voltage wires required to meet the above goals.
Read More
The Minister for the Environment, Climate and Communications, Eamon Ryan TD, announced the commencement of the Maritime Area Consent (MAC) Regime. The new regime enables the Minister, on an interim basis, to issue Maritime Area Consents (MACs) to renewable energy developers who meet the relevant assessment criteria. Developers must have a Maritime Area Consent to make an application for permission, to include environmental assessments, to An Bord Pleanála.
Read More
Mainstream Renewable Power recently announced that Mitsui & Co., Ltd. has agreed to invest EUR €575 million in Mainstream in the form of new common shares. This corresponds to a 27.5 percent equity stake in the company, and will enable Mitsui to take a long-term active role in Mainstream’s growth.
Read More
SSE Renewables has announced its intention to apply for a Maritime Area Consent (MAC) for its Arklow Bank Wind Park Phase 2 project under Ireland’s new consenting regime. This transfer from the current route of delivery via the Foreshore Act into the MAC regime has been notified to the relevant authorities. The said project, now progressing through the MAC regime, will be delivered later than initially envisaged.
Read More
Cindrigo announced that it has exercised the option agreement entered into last November to acquire the entire issued share capital of Energy Co-invest Global Corp (ECG). Cindrigo wants to expand its renewable energy portfolio and this acquisition of ECG will help the former to strengthen its position in the clean energy space, especially geothermal energy.
Read More
United Kingdom based independent renewable power company Anesco has secured a £12m revolving credit facility from Santander UK. Anesco plans to use these funds for expansion in the UK and Europe. This finance will support its pipeline of various renewable energy projects which includes five battery storage projects and three solar farms, that are at the ready-to-build stage.
Read More
At REGlobal’s 2nd edition of “Solar Power in Africa” conference, Anita Otubu, Head – PMU, Nigeria Electrification Project gave a presentation on the various solar power plans and policies in the country of Nigeria. In her presentation, she discussed the schemes and regulations to promote solar power in Nigeria; progress made so far in these countries; and initiatives to address the challenges that lie ahead.
Read More
Medium- and heavy-duty vehicles account for less than 5% of the vehicles on the road but produce over 20% of the emissions from the transportation sector, which currently accounts for more than one-third of U.S. green-house gas emissions. Key findings of the report suggest that cost competitiveness of zero-emissions medium- and heavy-duty vehicles can largely be achieved by 2035.
Read More
India’s landmark Green Hydrogen Policy released in February 2022 was a welcome initiative. While it sets the ball rolling it marks only the first steps in a long road. Challenges do remain in both implementing these measures as well as additional measures needed. It is critical to ensure that the technology, capital, and capacities do not pose a significant test for India’s domestic capabilities.
Read More
March is a stress test for the European Green Deal. European and national leaders can endorse it as part of the solution to the current crisis, and send a clear political signal of increased ambitions for the Fit for 55 Package. The invasion of Ukraine by Russia raises the importance of understanding and managing the deep entanglement between energy, security and geopolitics. EU and national leaders will have to show strong leadership to actively shape Europe’s course of destiny, not just respond to incredibly tragic events.
Read More
Allocations of $615 million in funds for electric vehicle (EV) infrastructure in the US under the National Electric Vehicle Infrastructure Formula Program moved forward with recent publications from the US Department of Transportation (DOT). The funds will be allocated on a state-by-state basis—with some receiving far more than others—but the first step will be for each state to propose a plan for its allocated share of funds (Plan).
Read More
Government can supercharge renewables deployment this decade by ensuring all relevant bodies have a mandate aligned with the UK’s 2035 net zero power system target, scaling up support to attract renewable supply chain investment to the UK, and setting ambitious interim targets for renewables technologies. While existing oil and gas production should continue to be used, future licensing rounds will not play a part in eliminating UK’s reliance on Russian gas due to the long time to bring projects online.
Read More