Author: Khushboo Goyal

Can voluntary carbon markets change the game for climate change?

Can voluntary carbon markets change the game for climate change?

March 22, 2021 |

Carbon credits are created in projects where actors implement activities resulting in lower or negative emissions. These credits can be sold by the actor who implemented the carbon reduction and can be traded and purchased by other actors, e.g. companies, to ‘compensate’ for their emissions. The motivations of the actors purchasing these offsets might be to comply with emission standards or regulations, to voluntarily improve their carbon footprint, or to support decarbonization projects.

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Amazon announces a 62 MW solar project in Singapore

Amazon announces a 62 MW solar project in Singapore

March 19, 2021 |

Amazon plans to set up a 62 MW ground-mounted solar project in Singapore. This is the company’s first renewable energy project in Singapore and is expected to be completed in 2022. It will be among the largest aggregated movable solar energy projects in the country and will supply power to the national electricity grid.

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BP plans 1 GW hydrogen production facility in the UK

BP plans 1 GW hydrogen production facility in the UK

March 19, 2021 |

bp has proposed a large blue hydrogen production facility with a targeted capacity of 1 GW by 2030. The project, H2Teesside, would capture and send for storage up to two million tonnes of carbon dioxide per year. The project would be located in Teesside in north-east England which is in close proximity to North Sea storage sites, pipe corridors and existing operational hydrogen storage and distribution capabilities.

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Wärtsilä to supply 200 MW of energy storage capacity for improving grid support in Texas

Wärtsilä to supply 200 MW of energy storage capacity for improving grid support in Texas

March 19, 2021 |

Wärtsilä will supply advanced energy storage solutions with a total capacity of 200 MW to Able Grid Energy Solutions. This will entail two interconnected stand-alone systems, Madero and Ignacio, in southern Texas in United States. The energy storage systems will be supplied to Able Grid Energy Solutions, Inc. (“Able Grid”) as per an order placed by the company in February 2021.

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Capital Dynamics acquires a 50 MW solar project from WElink Group in Spain

Capital Dynamics acquires a 50 MW solar project from WElink Group in Spain

March 19, 2021 |

Capital Dynamics owned Clean Energy Infrastructure (CEI) has acquired a 100 percent equity stake in a 50 MW solar power project in Southern Spain. The 50 MW Puerto Real 2 project has been acquired from WElink Group which is a leading global developer of renewable energy solutions. This is a subsidy-free project and is located near the 133 MW Puerto Real 1 project in the town of Puerto Real in Cadiz province.

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Telecom giant Orange to procure 100 GWh of renewable power from Total for 20 years in France

Telecom giant Orange to procure 100 GWh of renewable power from Total for 20 years in France

March 10, 2021 |

Telecom company Orange has signed a Corporate Power Purchase Agreement with Total, through its subsidiary Total Quadran. This is a 20 year contract, as part of which Total will supply Orange with 100 GWh renewable electricity every year. To honour this agreement, Total will develop a dozen new solar power plants with a total capacity of 80 MW by 2024, spread throughout metropolitan France.

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Wärtsilä to set up a flexible floating energy storage system in Philippines

Wärtsilä to set up a flexible floating energy storage system in Philippines

March 10, 2021 |

Wärtsilä will deliver a barge-mounted energy storage system for Therma Marine Inc. (TMI), a subsidiary of Aboitiz Power Corporation, one of the Philippines’ leading companies involved in power generation, distribution, and retail electricity services. The said energy storage system will have a capacity of 54 MW/32 MWh and will be delivered on an engineering, procurement, and construction basis. It will be placed next to TMI’s existing thermal power barge of 100 MW capacity and will provide flexibility for TMI in their ancillary service contract with the National Grid Corporation of the Philippines.

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FedEx announces plans to have carbon-neutral operations by 2040

FedEx announces plans to have carbon-neutral operations by 2040

March 10, 2021 |

Global cargo airline giant, FedEx Corp. has announced its ambitious goal to achieve carbon–neutral operations globally by 2040. The company has earmarked more than $2 billion of initial investment to help it achieve its ambitions. This will be mainly used in the domains of vehicle electrification, sustainable energy, and carbon sequestration.

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Hydrogen is expected to play a central role in Japan’s clean energy transition: IEA

Hydrogen is expected to play a central role in Japan’s clean energy transition: IEA

March 9, 2021 |

It has been almost a decade since the Fukushima nuclear accident which resulted in significant disruption to Japan’s energy supply and the country has been making significant efforts to diversify its energy mix. It has been gradually expanding its renewable energy capacity and improving its energy efficiency in order to lower its carbon emissions as well as reduce the dependence on imported fuels. However, the country’s energy supply still remains highly carbon intensive and Japan will need to redouble its efforts to achieve its goal of reaching carbon neutrality by 2050.

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Africa is only tapping into 0.01% of its wind power potential: GWEC

Africa is only tapping into 0.01% of its wind power potential: GWEC

March 8, 2021 |

In 2020, 821 MW of new wind power capacity was installed in Africa and the Middle East, bringing total capacity in the region to over 7 GW, which helps to avoid 10.7 million tonnes of CO2 emissions annually – equivalent to taking 2.3 million passenger cars off the road. South Africa installed 515 MW of new wind power capacity in 2020, making it the number one market for new annual installations last year as well as for cumulative installations.

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Challenges hinder Kenya’s prospects for becoming a preferred solar destination

Challenges hinder Kenya’s prospects for becoming a preferred solar destination

March 4, 2021 |

Kenya’s geographical location astride the equator gives it a unique opportunity for a vibrant solar energy market where solar power can be harnessed for generating electricity, lighting, heating and drying. However, the percentage of solar energy harnessed presently is insignificant relative to the potential. Kenya has just 53 MW of contracted solar power capacity which is less than 2% of the total contracted demand of 2,668 MW.

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Evolugen and Gazifère collaborate on a large green hydrogen injection project in Canada

Evolugen and Gazifère collaborate on a large green hydrogen injection project in Canada

March 3, 2021 |

Evolugen and Gazifère Inc., an Enbridge company have come together to build and operate one of the largest green hydrogen projects for injection into a natural gas distribution network in Quebec. They will develop a 20 MW water electrolysis hydrogen production plant in the Outaouais region. This is part of a collaboration formed to advance the development and use of green hydrogen.

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EV charging network provider ChargePoint gets publicly listed on NYSE

EV charging network provider ChargePoint gets publicly listed on NYSE

March 3, 2021 |

The leading EV charging network provider ChargePoint has announced that it has become the first publicly traded EV charging company operating across continents. This follows the closure of its business combination deal with Switchback Energy Acquisition Corporation on February 26, 2021. The combined entity is listed on the New York Stock Exchange.

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EDPR and Engie collaborate with Terna Energy for offshore wind development in Greece

EDPR and Engie collaborate with Terna Energy for offshore wind development in Greece

March 3, 2021 |

Ocean Winds, a joint venture of EDP Renewables and Engie, has signed a collaboration agreement with Terna Energy for development of offshore wind projects in Greece. As part of the agreement, the companies will identify the most suitable areas in the Greek seas for co-development of floating offshore capacity. They together plan to develop a pipeline of over 1.5 GW capacity according to their development roadmap for the current decade.

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Indonesia’s Biomass Cofiring Bet: Beware of the Implementation Risks

Indonesia’s Biomass Cofiring Bet: Beware of the Implementation Risks

March 1, 2021 |

IEEFA believes that a focused effort to prioritize particular regions could be more viable than chasing the dream of an ambitious nation-wide deployment plan. A targeted deployment plan focused on demonstrating commercial viability and PLN’s willingness to support long-term purchase agreements would send a stronger positive signal to attract major investments for the biomass industry. Indonesia has the potential to become a powerhouse for the biomass industry, and the cofiring ambition could be a starting point to spark its development.

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India’s ReNew Power to list on NASDAQ through a $8 billion deal

India’s ReNew Power to list on NASDAQ through a $8 billion deal

February 26, 2021 |

India’s leading renewable energy venture ReNew Power and RMG Acquisition Corporation II (RMG II) have entered into a business combination agreement to form ReNew Energy Global PLC. Upon the closing of this deal, the combined entity ReNew Energy Global PLC is expected to be publicly listed on the NASDAQ under the symbol “RNW”. This special purposed acquisition company (SPAC) transaction is valued at about $8 billion is expected to close in the second quarter of 2021.

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Total sells two of its renewable power portfolios in France

Total sells two of its renewable power portfolios in France

February 26, 2021 |

Total Quadran, Total’s 100% renewable power geneation subsidiary in France, has sold half of its equity stakes in two renewable energy portfolios to Banque des Territoires and Crédit Agricole Assurances. Banque des Territoires has acquired a 50% stake in a 53 MW portfolio comprising of 8 solar farms in New Caledonia. Meanwhile, Crédit Agricole Assurances has acquired a 50% stake in a 285 MW portfolio comprising of 9 wind farms with a total capacity of 103 MW and 44 solar power plants with a total capacity of 182 MW.

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Thailand’s Energy Absolute receives $47.62 million green loan from ADB

Thailand’s Energy Absolute receives $47.62 million green loan from ADB

February 26, 2021 |

Thailand-based Energy Absolute Public Company Limited (Energy Absolute) has secured a green loan from the Asian Development Bank (ADB) to finance its renewable energy and electric vehicle charging network projects in Thailand. The $47.62 million green loan will be used to finance the ongoing the Nakornsawan Solar and Hanuman Wind power plants. In addition, the funds will also be used to deploy fast and standard chargers at across Thailand.

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Eni expands its Spanish portfolio with the acquisition of three solar projects

Eni expands its Spanish portfolio with the acquisition of three solar projects

February 22, 2021 |

Eni and X-Elio have signed an agreement according to which Eni will acquire three of X-Elio’s solar PV projects. These projects are located in Spain and have a total capacity of 140 MW. They are also planning for a larger strategic collaboration as part of which the parties will develop renewable energy projects in Spain, where Eni aims to have 1 GW of renewable energy projects in the next five years.

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