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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According to “Waste-to-Energy (WtE) Market – Global Industry Analysis (2017-2020), Growth Trends and Market Forecast (2021-2025)” report published by ResearchAndMarkets, the global demand for WtE market is expected to witness high surge in demand as governments across the globe invest in developing sustainable solutions for generating energy from waste. North America is expected to lead the global WtE market as this region has high potential due to developed economies in this region.
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WEC Energy Group plans for a new 310 MW solar and battery storage project. If approved, the Paris Solar-Battery Park in Kenosha County would be the largest facility of its kind in Wisconsin. The facility features 200 MW of solar generation which is equal to powering 60,000 homes. The Paris Solar-Battery Park is part of the company’s plans to invest $2 billion in new solar, wind and battery storage projects by 2025.
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The U.S. International Development Finance Corporation (DFC) and Shell Foundation (the UK-registered charity) have announced a new collaboration that will promote renewable energy uptake in low-income areas of Africa and Asia. The collaboration aims to improve gender inclusion and to bring affordable renewable energy to more than 5 million people in these regions.
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DB Invest, a member of the IDB Group, has awarded a USD 125 million financial package to Engie Energía Chile, a subsidiary of the Engie Group, in a bid to accelerate the decarbonization of the country’s electricity sector. The funds, with a period of up to 12 years, will be used to build, operate and maintain the Calama wind farm with an installed capacity of approximately 151 MW, which will be located in the vicinity of the city of Calama, in the Antofagasta region.
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The Asian Development Bank (ADB) and Japan’s Ministry of Economy, Trade and Industry (METI) have signed a memorandum of cooperation (MOC) for clean energy promotion in South-East Asia. The cooperation, under the Cleaner Energy Future Initiative for ASEAN (CEFIA), will strengthen their efforts in the areas that focus on energy transition including renewable energy, energy conservation and efficiency.
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A transition to renewable methanol could expand methanol’s use as a chemical feedstock and fuel while moving industrial and transport sectors toward net carbon neutral goals. The cost of renewable methanol production is currently high and production volumes are low. But with the right policies, renewable methanol could be cost competitive by 2050 or earlier.
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Bangladesh’s overall power system utilisation has fallen again in FY2019-20 to just 40%, down from 43% in the prior year. Instead of replacing the coal power projects with LNG, the Bangladesh government should consider using the land set aside for these projects for renewable energy installations. Another key part of a successful response to Bangladesh’s overcapacity problem would be investment in the transmission and distribution system.
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The report presents the results of a study which unpacks some of the major political, institutional, regulatory and social barriers to renewable energy deployment in South Africa. It also provides some insight into proposed means of addressing these barriers to facilitate accelerated industrialisation in the renewable energy sector.
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Pacific Green Technologies, Inc.’s wholly owned subsidiary, Pacific Green Technologies (Shanghai) Co. Limited has signed a framework agreement with SINOPEC Star Co., Ltd., a subsidiary of SINOPEC, to work on a portfolio of onshore and offshore wind power, solar photovoltaic and comprehensive energy utilization projects.
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Alliant Energy and the city of Sheboygan have reached an agreement to install a 1 MW solar facility in the Sheboygan Business Center. The solar facility is expected to be operational by the end of 2021.
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Spain-based energy group Naturgy has acquired 100% of the economic interests in Hamel Renewables, a renewable energy company specialising in solar and energy storage. This transaction marks Naturgy’s entry into the United States renewable energy market as this is its first investment here.
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Duke Energy and Firestone Walker Brewing Company have completed one of the largest on-site solar arrays in the craft beer industry: a 2.1 MW solar array and 281 kWsolar carport on 9.7 acres in Paso Robles, Calif. REC Solar designed and built the solar project, and Duke Energy Renewables provided Firestone Walker financing through a 25-year power purchase agreement.
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Grenergy, a Spanish company renewable energy company specializing in the development, construction and operation of photovoltaic and wind projects, has closed financing with Natixis, a French financial services multinational, for fourteen new solar plants, to be set up in Chile for around $ 85 million.
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Cordelio Power and Axium Infrastructure have announced that the latter has purchased a 49% interest in Cordelio’s Ontario renewable portfolio. The 396 MW Denfield portfolio includes four wind projects and two solar projects located in southwestern Ontario.
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NREL’s recent report analyses different scenarios of electrification in the US and how it will impact capacity addition and operation of the grid. To meet electricity demand in high-electrification scenarios, installed capacity grows to more than double 2018 levels by 2050. Generation from low-cost renewable energy increases in all the scenarios.
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Canada Pension Plan Investment Board (CPP Investments) has committed up to €245 million to its UK-based platform – Renewable Power Capital Limited (RPC), in support of RPC’s first investment in renewables in Europe.
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Trafigura Group Ltd. has promised to reduce some of its greenhouse gases by 30 per cent by the end of 2023. To achieve its goal, the company is committed to invest up to $2 billion in 2 GW of renewable energy projects by 2025.
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HC2 Holdings, Inc. has announced the sale of its majority-owned clean energy subsidiary Beyond6, Inc. to Mercuria Investments US, Inc. for approximately $169 million. HC2, which owns approximately 61 per cent of Beyond6 on a fully diluted basis, expects to receive approximately $65 million in cash.
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Xebec Adsorption Inc. has closed its previously announced acquisition of Green Vision Holding BV, the parent company of HyGear Technology and Services BV, for aggregate consideration of 82 million euros and the assumption of 18.4 million euros in net debt.
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