The growth in primary energy over the outlook period is dominated by renewable energy, as the world shifts towards lower-carbon sources of energy. The share of renewable energy (including wind, solar, geothermal and bioenergy but excluding hydro power) increases more than 10-fold in both Rapid and Net Zero.
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As the necessity of energy system transformation gathers pace at a global level, North African countries are increasingly making efforts towards their respective clean energy transitions. Clean energy transitions offer opportunities for North African countries to transform their energy infrastructure in ways that can meet the region’s growing energy demand, create much-needed jobs and promote equitable socio-economic development, diversify their economies, and build climate change resilience, all while achieving low-carbon, sustainable, inclusive economic growth.
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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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Renewable energy generation projects (36 per cent), transmission and distribution (7 per cent), energy storage and system services (4 per cent), green hydrogen (5 per cent) jointly make up more than half of all projects identified in the report.
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Alphabet’s Google aims to power its data centers and offices 24-7 using solely carbon-free electricity by 2030. The tech giant is building on its previous goal of matching its energy use with 100% renewable energy.
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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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GDS Holdings Limited, a leading developer and operator of high-performance data centers in China has signed an MoU with Sembcorp Industries Limited to partner on renewable energy initiatives. Under the agreement, both the companies will collaborate to develop renewable energy solutions for GDS data centers wherever accessible in China.
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GE Renewable Energy has completed the installation and commissioning of the 53 MW Kirazli and 32 MW Meryem wind farms in Turkey.
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Swedish energy storage company Azelio and India based Atria Power have signed a MoU to install over 65 MW of energy storage capacity in India. According to the agreement the entire energy storage capacity will be set up until 2025.
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Global mining group BHP has signed a power purchasing agreement (PPA) to meet 50 per cent of its electricity needs across its Queensland Coal mines from green power sources. The said PPA has been signed with CleanCo, Queensland’s state-owned clean energy generator and retailer.
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Mainstream Renewable Power, a global wind and solar developer, has reached financial close for the second phase of its Andes Renovables renewable power platform in Chile. This second phase, called Huemul, will have a total capacity of 630 MW. It comprises of three onshore wind and two solar PV assets.
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NTR, a sustainable infrastructure investor and asset manager that acquires, constructs and manages renewable energy projects, has successfully completed a €370 million portfolio refinance of its 220 MW onshore wind portfolio. The said refinancing has been carried out for its NTR Wind 1 LP fund…
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USAID has awarded Tetra Tech, California-based consulting and engineering services firm, a five-year USD 29.7 million contract for the continuation of its Scaling Up Renewable Energy project (SURE II).
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Siemens Energy has signed an agreement with Beijing Green Hydrogen Technology Development Company Limited, a subsidiary of China Power International Development Ltd. (China Power), to provide a hydrogen production system for a fueling station in Yanqing District, Beijing.
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Duke Energy Renewables, a subsidiary of Duke Energy, has closed a preferred tax equity funding of $109.4 million from Goldman Sachs’ Alternative Energy Investing Group. This investment will be used to implement around 75 MW of solar and solar with energy storage projects over an 18-months period.
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Azelio, a public Swedish company specialising in thermal energy storage with dispatchable power, has signed an agreement with ALEC Energy to build a renewable energy storage site. Azelio will install a verification project in Abu Dhabi so as to evaluate its energy storage technology for inclusion in Masdar’s renewable energy product portfolio.
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GE Renewable Energy has announced that it will supply 13 wind turbines to the 68.9 MW E energija Telšiai onshore wind farm in Lithuania. As part of the partnership, GE will also provide a 25-year full services agreement for the wind project.
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AGL has announced that it has lodged a scoping report with the New South Wales Department of Planning, Industry and Environment (DPIE) for a grid-scale battery system at its Liddell Power Station site. The Liddell Battery project is part of the company’s target to develop 850 MW multi-site integrated battery systems by FY24.
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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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ExxonMobil, one of the largest refiners and marketers of petroleum products, has signed an agreement with Global Clean Energy Holdings to source renewable diesel from a converted refinery in Bakersfield, California.
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