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Bloomberg ($): Kenya’s securities exchange has moved a step closer to requiring companies to start Environmental, Social and Governance, or ESG, disclosure and introducing an index for the category. The Nairobi Securities Exchange published its ESG guidance manual on Monday, with a view of aligning information reported by companies listed in Kenya with international standards. […]
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Wall Street Journal ($): At the end of 2019, General Motors Co. announced a $1 billion investment to produce a new generation of Chevrolet Colorado and GMC Canyon pickup trucks at its factory in Wentzville, Mo. Just over a year later, GM said it would go all electric by 2035. Analysts are worried that some […]
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Renewables Now: Saudi Crown Prince Mohammed bin Salman announced on Wednesday plans for the construction of a massive floating industrial complex that will run on renewable energy and become home to “the world’s largest green hydrogen project”. This new net-zero industrial city called Oxagon is to be established with a unique octagonal design in a […]
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PV-Tech: South African public utility Eskom has signed a Memorandum of Understanding (MOU) with mining companies Exxaro and Seriti Resources to help decarbonise their operations by deploying solar PV. Announced today (25 October), the first phase of the agreement will see the construction of off-grid and wheeled solar solutions both at the mines and at […]
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S&P Capital IQ ($): A consortium of companies agreed to develop, construct and operate a 500-MW wind farm in Ras Ghareb, Egypt. The consortium, composed of France’s Engie SA, Japan’s Toyota Tsusho Corp./Eurus Energy Holdings Corp. and Dubai’s Orascom Construction PLC, has reached an agreement with the Egyptian Electricity Transmission Co. for the wind project, […]
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The Guardian: The finance minister of Iraq, one of the founding members of the global oil cartel Opec, has made an unprecedented call to fellow oil producers to move away from fossil fuel dependency and into renewable energy, ahead of a key Opec meeting. Ali Allawi, the deputy prime minister and finance minister of Iraq, […]
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S&P Global Platts ($): Siemens Energy and the state-owned Egyptian Electricity Holding Co. have signed a memorandum of understanding to develop a hydrogen-based industry with export potential, including a 100-200 MW pilot electrolyzer facility, as the North African gas producer seeks to develop a clean energy industry. “Siemens Energy and EEHC will jointly promote investment, […]
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Arab News: ACWA Power, the utility developer backed by Saudi Arabia’s Public Investment Fund (PIF), is planning to invest $16 billion in new projects around the world in 2021, ahead of plans for an initial public offering (IPO). Early last year, CEO Paddy Padmanathan said the company planned to invest $10 billion in new projects […]
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PV Tech: Abu Dhabi-based renewables company Masdar has signed an agreement to develop solar projects in Iraq with a minimum total capacity of 2GW. The plants will be built in central and southern Iraq and support the country in its ambition to procure 25% of its energy from renewables, Oil Minister Ihsan Abdul Jabbar Ismail […]
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ESI Africa: Renewables supplied only a third of Africa’s electricity demand growth in 2020 according to energy think tank Ember’s The Global Electricity Review. The Global Electricity Review showed that wind and solar showed resilient growth in 2020, despite the COVID-19 pandemic. While this forced a record fall in global power figures, this was not […]
IEEFA report: Bangladesh’s power system headed for financial disaster due to overcapacity in coal, LNG power
Investments in renewable energy and grid are needed to meet lower-than-expected demand slowed further by COVID-1918 May 2020 (IEEFA Australia) ‒ Bangladesh’s plan for significant coal- and LNG-fired power plant additions will lock the nation into substantial overcapacity, with major financial implications, according to a new study released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The coronavirus pandemic is currently lowering power demand significantly in Bangladesh, […]