AsiaElec - Asia Power
Wind giant Vestas has reduced its financial expectations for the year because of pressures from inflation and the energy crisis that followed Russia’s invasion of Ukraine.
Iran is claiming progress with its solar industry, reaching an estimated total of 1,000 MW in the next six months. Time will only tell whether the country, hit with massive protests and a crisis of legitimacy, will pull off this massive feat.
The world is heading for a 2.8°C rise in global warming by 2100 unless governments urgently improve their emissions targets, the UN warned, otherwise the window of opportunity to take the required climate action will slam shut.
The war in Ukraine has prompted new investment in green hydrogen to reach over $73bn as costs fall, making fossil fuel-produced hydrogen uneconomic as gas prices soar.
Japan must rapidly raise its carbon price from $2.6 to $30 per tonne of CO2 if it is to prevent gas to coal switching and drive forward the clean energy transition.
Adani is to appeal against a $6.7mn fine imposed in May 2022 by the Indian National Green Tribunal (NGT) for serious environmental breaches at its 1,200-MW Udupi coal power plant.