Neoen, a French renewable energy producer, has signed a 10-year power purchase agreement with the consortium formed by Heineken, Philips, Signify, and Nouryon for the supply of 126 MW of additional wind power in Europe. The electricity will be produced by installing additional capacities in the upcoming Mutkalampi wind farm which is owned by Neoen.
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Australian and Japanese companies are exploring the potential of capturing carbon dioxide from industries in Asia and storing it off the coast of Australia, on the ocean floor. Australian company, Transborders Energy Pty is leading the ‘deepC store project’ along with its partners which include Tokyo Gas Co. and Kyushu Electric Power Co. The team is exploring the possibility of shipping emissions across the Asia-Pacific region using a floating hub to inject the material under the seabed.
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The International Renewable Energy Agency (IRENA) and the African Development Bank (AfDB) have...
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Engie has announced the signing of renewable energy offtake contracts with Amazon which will see them develop wind and solar projects of a total capacity of 650 MW. As per the agreement, these capacities will be set up across the United States, Italy, and France.
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McDonald’s plans to finance three renewable projects in the United States. The company has already completed new virtual power purchase agreements for developing up two wind farms and a set of solar projects. These projects will be constructed across Illinois, Oklahoma, North Carolina and Ohio.
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Tasmania, an island state of Australia, has met its goal of running entirely on renewable energy two years ahead of schedule. It met its target with the commissioning of the region’s 29th wind turbine at Granville Harbour on the island’s west coast, with two turbines remaining to come online. When all 31 turbines are operational, Tasmania will be able to generate a total of about 10,741 GWh of renewable energy annually.
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Prime Capital, an asset manager and financial services provider, has announced the sale of three wind power projects in Finland. The projects have a cumulative capacity of 32.2 MW, comprised of 11 Vestas turbines. This capacity was acquired by two institutional funds from Luxembourg. They were advised by a German asset management company.
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The Ministry of Energy, Uzbekistan has shortlisted 11 bidders under the final phase of a tender for a 200 MW solar park. The project is set to be developed at Sherabad in the Surkhandarya region. The project site is 46km west of the Surkhan substation which is the main hub for electricity supply within Surkhandarya.
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Europe could mainstream green hydrogen faster than traditional assessments suggest by creating joint investment projects along the value chain, which would allow the initial green premium, or extra cost, of green hydrogen to be measured against the sustainability value-add of a final product, and not only against the cost of competing fossil fuels. Presented below are select extracts and highlights from the white paper titled, “Mainstreaming Green Hydrogen in Europe“. The white paper summarises an independent research project conducted by Material Economics and commissioned by Breakthrough Energy, exploring what Europe can do to accelerate the growth of hydrogen, and in particular renewable energy-based (or so-called green) hydrogen.
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Iberdrola plans to invest Euro 75 billion towards energy transition by 2025. More than Euro 7 billion will be allocated to renewables and over Euro 4.5 billion to networks. 83 per cent of the investment is targeted at countries with an A rating. Almost half of the investment, amounting to about Euro 34 billion, is to be directed towards the United States and the United Kingdom. The company plans an average investment of 10 billion Euros per year between 2020 and 2022, and 13 billion Euros per year in the period 2023-2025.
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Spain’s cabinet approved a decree establishing rules for renewable energy auctions. The long-awaited auction scheme is likely to lead to the first round by year’s end. The system will have submission of sealed bids and the winners will receive different prices based on their offers. This will take place under a “pay as bid” system.
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The rise of e-mobility could transform mobility from a preoccupation with ‘gigantism’ to electric micromobility as it lowers transportation costs while avoiding the risk of infection.
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European Energy, a renewable energy developer plans to develop a solar power project with a capacity of 300 MW in Denmark. The project will be set up in the municipality of Aabenraa in southern Jutland. The construction of the project would require an estimated investment of $159 million, set to be the biggest solar installation in the Nordic region.
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EBRD announced funding an amount of $24.8 million to support the development of a wind project in Kazakhstan with a capacity of 100 MW. The project work will be undertaken by Zhanatas Wind Power Station, a special project company run and owned by China Power International Holding in partnership with Dutch alternative asset manager Visor Investments Cooperatif.
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The Chilean government has shown significant political will to implement climate change mitigation actions, which will enable the country to fulfil its commitments regarding reductions in greenhouse gas (GHG) emissions. These obligations are set in different initiatives, like the Financial Strategy on Climate Change and the revised Chilean NDC, which aims to reach a target of zero net emissions by 2050.
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While the solutions and policy measures needed for some sectors – including power and passenger vehicles – look relatively clear (although still challenging), there are seven industry and transport sectors which will be the hardest to decarbonise. Those seven sectors will account for 38% of energy & process emissions and 43% of final energy use by 2050 unless major policy changes are pursued.
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BP and Microsoft have agreed to collaborate as strategic partners to facilitate digital transformation in energy systems and help the companies work towards their goals of becoming carbon neutral. A memorandum of understanding was signed by the two firms which includes the capabilities of each company to further the world’s collective goal of decarbonisation.
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Orix, a Japanese financial conglomerate, plans to invest around $980 million in Greenko Energy Holdings, an Indian renewable energy company. Orix is set to take a stake of more than 20 per cent in Greenko and the deal is expected to close within this year. This has been one of the largest investments made by the Japanese company overseas as it steps up its investments in clean energy.
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We need extraordinary policies, along with solutions and strategies across the three vital areas of more renewables, future-proofed power grids and more energy efficiency.
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The UK will need hydrogen to meet its goal of net-zero greenhouse gas emissions by 2050, according to the latest National Grid “future energy scenarios”. Hydrogen “could be the solution to many of the hardest parts of the transition to net-zero”, National Grid says, particularly in long-distance freight, shipping and heavy industry.
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