REM - Renewable Energy
The African Development Bank and a number of European development finance institutes (DFIs) have committed $160mn of initial funding for the Facility for Energy Inclusion (FEI)
Japan’s TEPCO and Denmark’s Ørsted to form JV to win offshore wind bid
Post-crisis economic stimulus packages much be focused on clean energy and not coal if the fight against climate change is not to be derailed
China Energy has confirmed that France’s EDF is joining it in developing 502 MW of offshore wind capacity at two sites at a cost of $1.13bn
Ukraine's new cabinet offers voluntary tariff cuts for renewables, but ready to go to court in disputes
Ukraine’s new cabinet shocked investors by threatening to cut generous “green tariff” arrangements retroactively for renewable energy developers. This may prompt a raft of lawsuits from irate investors.
The African Development Bank has agreed to lend $200mn to Nigeria’s Rural Electricity Agency (REA) to boost access to power for domestic, commercial and industrial customers in rural areas.
Investment in off-grid energy access between 2010 and 2019 reached $2.1bn, connecting 420mn people to off-grid solar supplies and 47mn to local mini-grids.
The falling price of renewables means that the 499 GW of new coal capacity planned or being built worldwide could be a $638bn waste of money.
Japan’s JERA has increased its stake in the planned 2-GW Formosa 3 wind farm off Taiwan to 43.75%
Innogy-owned green developer Belectric has completed commissioning at Fortum’s 250-MW solar array at the Pavagada solar park in the Indian state of Karnataka, its largest solar project so far.
Japan has opened a pioneering 20-MW green hydrogen production plant as the government drives renewables development in a bid to diversify the energy sector away from fossil fuels.
China’s coal expansion has cancelled out the fuel’s decline in Europe and the US. China must also reduce its exposure to coal if the Paris targets are to be met
Don’t assume the push is motivated by an environmentalist impulse.
Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green.
Brazil has announced plans to increase the maximum amount of biodiesel blended with petroleum-derived diesel for retail sale to 15% over the next three years.
Uganda cannot let Chinese investment in renewables leave it exposed to unsustainable debt, stranded assets and high tariffs
The IFC has invested $200mn in Standard Bank of South Africa’s green bond, which was placed on the London Stock Exchange on March 2.
NEoT Offgrid Africa (NOA) has launched a pioneering receivables securitisation programme that aims to raise up to €40mn ($44.5mn) to finance off-grid solar home systems in West Africa.
Total investment in the Asia-Pacific (APAC) offshore wind sector surpassed Europe for the first time in 2019.
Singapore IPP Vena Energy has issued a $325mn green bond in a bid to raise cash to help fund its 9-GW portfolio of renewable projects under development across Asia.
Foreign investors are up in arms following the release of the Ukrainian government’s proposed changes to the generous green energy tariffs introduced by former president Petro Poroshenko.
UK-based investment fund ARCH Emerging Markets Partners has invested $16.5mn of equity capital in CrossBoundary Energy (CBE), an off-grid solar developer in Africa.
Scatec Solar has connected a second 86-MW tranche at the Dyason’s Klip 1 solar complex in SA
East Africa’s utility-scale wind sector received a much-needed boost this week as Siemens Gamesa confirmed that it would supply turbines for an Africa Finance Corporation (AFC)-led, 59-MW wind farm in Djibouti.
Following the rally in Russian utility universe, putting the sector ahead of every other Russian equity segment in year-to-date terms for 2020, VTB Capital sees more place for upside for certain names coming from expected profitability gains.
China’s JinkoSolar Holding led the global solar PV module market in 2019, shipping 14.2 GW of solar PV modules, way ahead of second-placed JA Solar with 10.3 GW.
India’s Suzlon has announced a major restructuring loan led by the State Bank of India (SBI) in a bid to stave off bankruptcy as it struggles under $1.8bn of debt.
Utility-scale wind additions in Africa and the Middle East dipped by 7% in 2019 to 894 MW, although the market is set to bounce back in the next five years.
The Chinese-backed Minety battery storage project in the UK has signed up Shell’s energy technology subsidiary as offtaker in a multi-year deal.
The European Union is to provide €50mn ($54.9mn) to support green investment across Southeast Asia.
Shell is to build the 120-MW Gangarri solar plant in Queensland in a bid to reduce the carbon footprint of its LNG export-orientated Queensland Curtis (QGC) onshore natural gas project.
Global energy-related emissions levelled out in 2019 at 33.3bn tonnes following two successive annual increases in 2017 and 2018.
Green energy eats into Australian coal generation
The US Energy Information Administration has released its Annual Energy Outlook for 2020, outlining its expectations for how energy trends will play out over the next 30 years.
Indonesia has unveiled plans to close coal plants over 20 years old, potentially removing 11,000 MW of capacity from the market
Large corporations signed 19.5 GW of wind and solar power purchase agreements in 2019, up over 40% on 2018
The UK is to continue providing development financing for African countries that extract and use oil and gas in cleaner ways, despite UK Prime Minister Boris Johnson’s announcement that his government would no longer support coal mining anywhere.
Global investment in renewable generation rose 1% in 2019 to $282bn, with the Chinese market falling and US spending reaching record levels.
The Asian Development Bank (ADB) has provided $55mn of support to the Maldives to build solar-hybrid battery systems on 48 islands in a bid to reduce diesel consumption.
Western Balkans Investment Framework (WBIF) study reveals huge untapped renewable energy potential in the region, which currently relies heavily on coal power.
Green hydrogen needs to build on its unprecedented political and business momentum if it is to beat fossil fuels, derive gas hydrogen on cost within five years and drive forward the energy transition
The African Development Bank (AfDB) has approved a $21.8mn grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states.
Shanghai Electric and China Three Gorges (CTG) have announced major fundraising and expansion plans at the start of the year as China’s offshore wind giants seek new global markets
Japan’s government and banks have provided $924mn of debt financing to support MHI Vestas' expansion into Taiwan, a major steeping stone to wider business in Asia
Micro-grids and other on-site renewable energy installations could supply refugee communities across the globe with the cheap, reliable electricity they need.
The new European Commission has set a target of net-zero carbon emissions by 2050 to avoid a climate disaster, but the target is controversial as the only way to get there is to ramp up the role nuclear power plays in producing Europe’s electricity.
Polish energy market regulator URE launched an auction for up to 2.5 gigawatts of onshore wind power capacity as Warsaw seeks to meet the EU-required target of a 15% share of renewable energy in final energy consumption by 2020.
In a sign of the complex politics surrounding climate change, CEE has huge opportunities for investment into two growth areas: renewable energy and airports, finds a new study by law firm CMS.
Abu Dhabi’s Masdar and Armenia National Interests Fund sign $300-320mn solar power projects development deal
The Russian government tabled a draft law on November 28 that will create a green certificate system in Russia as part of its efforts to battle climate change.
New research forecasts falling global coal-fired generation in 2019, as declining output in the EU and US outpaces expansion in Asia
Alteo's five-year strategy sets out the goal of becoming Hungary's number one industrial energy supplier and reaching a 50% share in renewable sources in district heating.
US-based refiner HollyFrontier has unveiled plans to build a new biodiesel plant as it seeks to meet its requirements under the Renewable Fuel Standard.
The Slovakian Ministry of Economy has announced a subsidy scheme to promote the purchase of electric vehicles and increase their number on Slovakian roads next year.
Drillers in the prolific Permian Basin are increasingly turning to renewable energy to power their operations.
Montenegro has substantial hydropower capacity but is looking to develop other forms of alternative energy.
Grey economy businesses “patronised by high-ranking officials” have set up in Svaneti region where locals receive free electricity because of the degree of hardship.
Serbia's ultimate goal is to make all its energy facilities compliant with EU environmental standards, as it aims to join the bloc by 2025.
Russia’s biggest foreign-owned utilities company has finally sold its Reftinskaya power station for an undisclosed amount as part of its efforts to “go green” as well as become more profitable.
The Global Wind Energy Council (GWEC) has called for trade barriers that hurt wind turbine exports to be slashed, arguing that tariff walls could hinder global attempts to mitigate climate change.
Sydney City Council has put forward ambitious A$60m ($41.2) plans to become 100% green and use wind and solar power at all its properties by 2020.
The IEA has raised its five-year green energy expansion forecast to 50%, although this is not enough to rein in emissions
GE Hitachi Nuclear Energy announces cooperation with richest Pole on small modular reactor for Synthos
GE Hitachi Nuclear Energy has signed an agreement with Poland’s chemical giant Synthos, owned by the richest Pole Michal Solowow, on the potential construction of a small modular reactor.
Ukraine has already been investing heavily in the renewable sector, and the goal of the government's renewable energy strategy is to reach 25% renewables by 2023.
Power planners were left with major headaches when the demise of the Soviet Union caused all Central Asian Power System (CAPS) member states to scramble to remake their grids along national lines. However, pan-region ideas are now back in fashion.
Chinese solar power developer ReneSola sells 55 MW of Polish solar capacity to Aberdeen Standard Investments
Uzbekistan announces winner in first ever competitive auction for solar power public-private partnership
Hungary can rely on two energy sources, nuclear and solar energy to meet the climate goals set out in the Paris Agreement, said President Janos Ader recently.
Montenegro, like most of the countries in the EU-aspiring region, derives a large share of its power from coal, but the decision to drop plans to build a new coal power plant is a sign countries in the region could be kicking the coal habit.
On September 14th, the Akademik Lomonosov, a first of its kind floating nuclear plant built by Russian state nuclear energy corporation Rosatom, arrived at Pevek, a port town on the remote Chukotka Peninsula in the Russian Arctic.
Saudi Arabia’s ACWA Power is to develop 250 MW of solar capacity in Ethiopia after making a record low bid of $0.02526 per kWh
CEZ executive calls Zolar the "pioneer of an innovative, decentralised model for purchasing rooftop solar systems".