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Reuters: Power distribution company WEL Networks and renewables developer Infratec are in the final stages of assessment for what will be New Zealand’s first utility-scale battery energy storage Power company Energias de Portugal (EDP.LS) (EDP) plans to invest 12.86 billion pounds ($17.65 billion) in wind and solar projects in Britain by 2030 as the country […]
Clark Williams-Derry
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten images of gasoline queues in the 1970s, but increasingly describes the spike in global fossil fuel prices. A handful of commenters eagerly lay the blame on renewable energy, which they claim has distracted the world’s attention from investments in oil, gas, and coal production that could have calmed markets. […]
IEEFA
Reuters: Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday. “The world is not investing enough to meet its future energy needs … transition‐related spending is gradually […]
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ReNews.biz: Vattenfall has committed to a landfill ban for end of life wind turbine blades. Instead it will re-use, recycle or recover 100% of decommissioned wind turbine blades from owned wind farms. The Swedish developer is aiming for a 50% recycling rate of wind turbine blades by 2025 , rising to 100% by 2030 It said […]
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Associated Press: A group studying the economics of offshore wind energy in the U.S. says building and operating the nascent industry will be worth $109 billion to businesses in its supply chain over the next 10 years. The report by the Special Initiative on Offshore Wind comes as states on both coasts and the Gulf […]
IEEFA
Mercom India: Federal Bank Limited will discontinue financing of any new-coal related projects, including coal-fired power projects. The announcement comes on the heels of the equity infusion from the International Finance Corporation (IFC) in July 2021. In July 2021, IFC, the financial arm of the World Bank, acquired a 4.99% stake in Federal Bank for […]
IEEFA
Bloomberg ($): The United Arab Emirates has become the first of the Persian Gulf’s petrostates to commit to eliminating planet-warming emissions within its borders. “We are committed to seize the opportunity to cement our leadership on climate change within our region and take this key economic opportunity to drive development, growth and new jobs,” said […]
IEEFA
Energy Storage News: US utility company Georgia Power has approval from regulator Georgia Public Service Commission (PCS) for the first project in its 80MW portfolio of ‘build, own, operate’ standalone battery energy storage systems (BESS). The company said yesterday that approval has been granted for Mossy Branch Battery Facility, a 65MW / 260MWh asset which […]
IEEFA
Renew Economy: Alinta is planning to build a huge 1 gigawatt offshore wind farm to tap into Australia’s main grid – the first major utility in the country to make such a commitment – as part of a massive spending spree on renewables and storage. CEO Jeff Dimery says Alinta is also poised to announce […]
IEEFA
Bloomberg ($): Only 1 in 20 of Europe’s largest 1,000 listed companies will achieve their net-zero pledges unless they speed up emissions cuts in the next decade. Almost one-third of those companies have committed to reaching net zero by 2050, and just 9% of those are on course to succeed if they continue the pace […]
IEEFA Europe: Snam woos investors with net-zero claims, while growing its spending on fossil gas infrastructure
Italian gas giant publicizes hydrogen commitment while spending shows business as usualMarch 16, 2021 (IEEFA) — Even as it seeks to attract funding from sustainability-led lenders, Europe’s largest gas pipeline company continues to devote the vast majority of planned capital spending to unabated fossil gas infrastructure, according to a report from the Institute for Energy Economics and Financial Analysis (IEEFA). Snam, the Milan-based gas transmission system […]