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IEEFA
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, […]
IEEFA
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, […]
IEEFA
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 […]
IEEFA
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 […]
IEEFA
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
PV Tech: Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant. Global financial institutions the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), […]
IEEFA
Reuters ($): Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as […]
IEEFA
Thomson Reuters Foundation: Wind could power Africa’s energy demands 250 times over and create jobs lost in the move away from fossil fuels but the continent has only tapped into 0.01% of its potential, wind experts said on Thursday. Wind projects are growing fast, with 724MW of new capacity added in 2020, bringing the total […]
Bruce Robertson
Japan will cease to be a major buyer of Northern Territory gas
Ask anyone in business what the first rule of thumb is and they’ll tell you straight: you have to listen to what your customers want. Simple, right? But that’s exactly what two of the biggest names in the Northern Territory gas industry, Origin and Inpex, are failing to do. They’re pushing to open up huge […]
IEEFA
Bloomberg: Egypt has begun talks over plans to sell electricity to Europe and Africa, pressing its advantage as a producer of cheap renewable energy in a bid to become a regional export hub, the head of its sovereign wealth fund said. The nation, which has a surplus of electricity, sees unspecified “power-hungry” countries to the […]
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, […]