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Bloomberg ($): PPC Ltd., the biggest South African cement maker, has set a target of attaining net zero emissions by 2050. The company aims to cut emissions by 10% by 2025 and 27% by 2030, it said in its inaugural climate change report on Monday. PPC produces a total of 11.6 million tons of cement […]
IEEFA
Bloomberg ($): South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new coal-fired power plants. “New coal-fired power flies in the face of our constitutional right to an environment not harmful to health and wellbeing, not only for the present generations but for […]
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Energy Storage News: A US$57.67 million loan towards the development cost of large-scale battery energy storage system (BESS) projects will be made to South Africa’s public electricity utility Eskom by the African Development Bank. The bank’s board of directors said last week that the loan has been approved, assisting the development of 200MW of four-hour […]
IEEFA
The Guardian: More than 40 countries have agreed to phase out their use of coal-fired power, the dirtiest fuel source, in a boost to UK hopes of a deal to “keep 1.5C alive”, from the Cop26 climate summit. Major coal-using countries, including Canada, Poland, Ukraine and Vietnam, will phase out their use of coal for […]
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PV Magazine: South Africa‘s president, Cyril Ramaphosa, announced today that France, Germany, the United Kingdom and the United State will provide $8.5 billion in funds to help the country achieve the new carbon emission targets that were presented in the Nationally Determined Contribution (NDC) brought to the COP26 conference in Glasgow, UK. “The highly concessional […]
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PV Magazine: Burundi-based renewable energy company Gigawatt Global Coöperatief U.A. has announced the completion of the country’s first large-scale PV plant – a 7.5 MW installation under development since 2015 and for which construction works were announced in 2017. The project was financed by South Africa-based equity investor Inspired Evolution, the U.K. government-funded Renewable Energy […]
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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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Huffington Post: As Congress debates whether to pare down the Biden administration’s signature climate proposals or allow the fossil fuel industry to benefit more from new government programs, new research suggests doing so would create far fewer jobs. For every million dollars the United States government invests, solar produces over 2.7 times more jobs than […]
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: China’s pledge to stop building coal-fired power plants overseas could cull $50 billion of investment as it slashes future carbon emissions, analysts said, although Beijing’s own domestic coal programme is still propping up the dirty fossil fuel. Chinese President Xi Jinping said in a pre-recorded address at the United Nations General Assembly on Tuesday […]
IEEFA Japan: ¥26 billion loss on Australian coal power plant raises questions for Sumitomo and its investors
Sumitomo’s coal policies are lagging its trading house peers and the Japanese government23 November 2020 (IEEFA Japan): As the government of Japan’s energy policy shifts significantly and Japanese trading houses exit coal projects overseas, Sumitomo Corporation continues to develop coal power projects and has seen its thermal coal output grow according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, […]